USDA Rural Development Makes Several COVID-19-Related Actions

Wednesday, March 25, 2020 - 3:15pm

U.S. Department of Agriculture Rural Development today took several actions related to the COVID-19 pandemic, including changes for multifamily housing. Among the actions for multifamily housing were to extend tenant certifications due March 31, April 30 and May 31 to a June 30 deadline with no late fees or overage charges; extend Section 515 annual financial statements that were due March 31 by at least 30 days; and waive late fees on Section 515 mortgages. Rural Development also encouraged owners to work with impacted residents and families, but clarified that no additional subsidy funds are currently available.

Stay tuned for information on a COVID-19 webinar from Novogradac. For community development, affordable housing and renewable energy updates related to COVID-19, see Novogradac’s dedicated page.