Dear Multifamily Stakeholders and Owners,
The Office of Multifamily Housing Programs has published a RAD PBRA Post Closing Website, FHA CNA 10-Year Update Memo, and NSPIRE Scoring Calculator.
PBRA Guidance for Post-RAD
If you have completed a RAD conversion and have questions about Project-based Rental Assistance, please visit the Office of Multifamily's website that provides guidance to owners that have converted their projects to Section 8 PBRA authorized under RAD. This guidance applies only to conversions of public housing, Section 8 Moderate Rehabilitation (Mod Rehab), Rent Supplement, Rental Assistance Payment (RAP), and Section 202 PRAC assistance to PBRA. It does not apply to RAD conversions of assistance to Project Based Voucher (PBV) assistance.
Review the new RAD Post Conversion website.
Recent Multifamily Housing Published Memos:
FHA CNA 10-Year Update
The purpose of this memo is to clarify under what circumstances a Capital Needs Assessment (CNA) is required for multifamily properties with an FHA-insured loan, particularly as it pertains to 10-year update CNAs. These requirements are not uniform for all FHA-insured loans and vary based on authorizing statute and final endorsement date. This memo sets forth guidance for determining if and when a CNA is required based on a property's FHA-insured loan.
NSPIRE Scoring Calculator
The National Standards for the Physical Inspection of Real Estate (NSPIRE) protocol will be effective later this year- going live for multifamily housing properties on October 1st, 2023. HUD has created a tool which will help property owners calculate an estimate for their NSPIRE score. Please note that this is just an estimate, and the most important factor will be the condition of the property on the day of inspection.
You can read more about the calculator, try it yourself on the NSPIRE web page, and watch an instructional video. If you have further questions, contact NSPIRE@hud.gov.