Sample Restructuring of Section 515 Property of Propertie

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• National Council of State Housing Agencies
• HFA Institute
• January 17, 2008
• Russell T. Davis
• Administrator
• Rural Housing Services
• USDA - Rural Development

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• 17,287 Properties
• 464,604 Units
• 12 Billion Outstanding Principal
• 55 of Units Have RA
• 9K Annual Average Income (7K for RA)
• 30 in Counties with Declining Income
• 27 Units / Property
• 16 Section 8 (7 payment based, 9 vouchers)
• 57 Elderly, 43 Family
• 74 Female-headed

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80 rehabilitation and recapitalize
10 foreclose and voucher
10 prepay and voucher
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4,000 Transfer
11,000 Properties
1,000 Litigate
6,000 Rehab and LIHTC
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