HUD, FHA Provide Incentives for Developing Hospitals, Health Care Facilities in OZs
The U.S. Department of Housing and Urban Development (HUD) today issued H Notice 2019-10 on incentives for Federal Housing Administration (FHA) mortgage insurance for properties located in opportunity zones. Incentives include priority in underwriting queues for Section 232 residential care facilities, reduced FHA mortgage insurance application fees for Section 232 and Section 242 hospitals and annual (rather than the up-front) mortgage insurance premiums for Section 232 facilities in qualified census tracts or difficult development areas under the low-income housing tax credit. HUD Secretary Ben Carson and FHA Commission Brian Montgomery announced the initiatives today in Miami.
Alfonso Costa, HUD’s deputy chief of staff, will be a speaker at the Novogradac 2019 Opportunity Zones Fall Conference in Chicago, Oct. 24-25.