HUD’s New Preservation Workbook

Regulation | October 09, 2017 | by Gates Dunaway

On October 6, 2017 HUD published the long awaited "HUD Preservation Workbook: Successful Stewardship of Multifamily Recapitalization".

The 97 page booklet, available on HUD Exchange here, is the culmination of many years of work by industry professionals who came together with HUD to write this practical "how-to" manual focused on the preservation of HUD 202, 236 and Section 8 properties. It also captures much of the material used for the HUD Preservation Clinics held throughout the country in 2015 and 2016.

The manual is very easy to follow, and it will be a good resource for owners who are struggling with deciding how best to preserve and improve their affordable housing properties. For owners and Boards of Directors that are early in the process, there are chapters that explain the importance of preservation, and how to evaluate your property to determine the best path forward. For those further into the process of preservation, there are tools to help size the new debt, how to plan the rehabilitation and tenant relocation, and how to budget for the development.

As a companion to the Workbook, HUD has also published a working excel tool designed to help owners size their new loans. Find the link to the tool here