Preservation of Affordable Rural Housing: A Practitioner's Guide to the Section 515 Program
Date Published: 03/31/2005
Author: Shereen Aboul-Saad, Gideon Anders, Adam Galowitz, Christine R. Goepfert, Lee Higgins, Leslie R. Strauss, Timothy L. Thompson
Publisher: LISC
This handbook is a compilation of articles describing the 515 Program to help nonprofit organizations serving the housing needs of rural low-income communities improve their understanding of the rules and learn about recent thinking and practices in the field. Section 515 program, created in 1962 to finance affordable rental housing in rural areas, serves as an important resource to these communities nationwide. The publication describes the Program's history, function, regulatory scheme, characteristics of the existing stock, and program trends; major obstacels to its preservation; an explanation of funds available to nonprofit development organizations for acquisition and/or rehabilitation of Section 515 properties; the current legal framework surrounding prepayment and preservation; and the principles and potential impacts of Administrative Notice 4010 for preservation.
Topics: Housing, Rural, --Housing, --Rural communities / areas
Type: Guidebook