HUD EXTENDS FILING DEADLINE FOR SOME MULTIFAMILY PROJECTS
The U.S. Department of Housing and Urban Development's (HUD) Office of Multifamily Housing Programs authorized a blanket 30-day filing extension for those owners whose project's fiscal year ends December 31, 2009. HUD says that due to infrastructure performance problems, multifamily property owners have experienced difficulties submitting financial statements that are due on March 30. HUD says the extension has been automatically implemented. The extended due date is April 30, 2010; owners who submit financial statements on or before April 30 will not be referred to the Departmental Enforcement Center or be flagged in the Active Partners Performance System.