The Rural Housing Service (RHS) recently posted revisions to the Guaranteed Rural Rental Housing Program (GRRHP) Origination and Servicing Handbook. These revisions included a correction to Attachment 4-A GRRHP Application Checklist in Chapter 4, to align the Market Study and Appraisal submission requirements with Chapters 3 and 4 of the Handbook. Attachment 4-A now clearly indicates that both a Market Study and an Appraisal must be included in lender application packages.
Other updates included language for the new lease up reserve calculation that was announced in a Federal Register Notice dated September 6, 2022 and all references to “State Office” were replaced with “the Agency” to reflect the realignment of the Office of Multifamily Housing.
Please contact Jonathan Bell, Branch Director, Processing and Report Review at jonathan.bell@usda.gov with any questions or requests for clarification.
Rural Development Build America, Buy America Implementation Waiver Expires Feb 3, 2023
USDA Rural Development’s (RD) implementation waiver for the Build America, Buy America Act (BABAA) will expire on Feb. 3, 2023. After that date, all non-Federal organizations receiving RD financial assistance for infrastructure projects will be required to exclusively use iron, steel, manufactured products and construction materials manufactured in the United States.
The Build America, Buy America Act was enacted as part of the Infrastructure Investment and Jobs Act on Nov. 15, 2021. It requires that all iron, steel, manufactured products and
construction materials used in federally funded projects must be produced in the United States. To learn more, read the full Stakeholder Announcement.