Multifamily Launches New Section 8(bb) Preservation Tool Web Page on HUD.gov
The Office of Multifamily Housing has launched a new webpage for the Section 8(bb) Preservation Tool. Here is the link to the webpage.
The webpage provides a brief explanation of the Section 8(bb) Preservation Tool, which allows for the transfer of Section 8 project based rental assistance (PBRA) budget authority from one multifamily project (Project A) to another multifamily project (Project B).
The webpage features a list of potential Property Bs, which will be useful to owners who are interested in transferring their PBRA budget authority. The list is downloadable in Excel, can be sorted or filtered by state or county, and is updated every two weeks.
It also provides instructions for owners of multifamily properties who are interested in receiving Section 8 budget authority via the 8(bb) transfer process on how to request that their properties be added to the list.