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Description
New Hampshire Housing is providing this informational page as a service to the public and to Commission members.
This act consists of two sections designed to ensure that tenants residing in foreclosed properties are not abruptly displaced from their units. HUD seeks to ensure that individuals or entities that participate in HUD programs are aware of obligations imposed on immediate successors of interest in any residential property pursuant to a foreclosure to provide tenants residing in such property, including but not limited to tenants with Section 8 rent assistance, with at least 90 days advance notice if they need to vacate the property, where the successor desires to have the tenants vacate.
A preliminary application review is required as a prerequisite to applying for Low-Income Housing Tax Credits. The purpose of the preliminary application review process is to bring together a diverse team of Authority staff members to meet with project sponsors and review all aspects of the project. The intent is to provide input early in the process in order to provide early guidance to the development team in order to facilitate successful funding applications.