The Rural Housing Service (RHS) is proposing to amend its regulation to change the requirements of the Reserve Account for the Sections 514/516 Farm Labor Housing program and the Section 515 Rural Rental Housing (RRH) program. According to the agency, "the intended effect of this action is to address reserve account requirements of new construction rental housing funded under Sections 514/516 and Section 515 and does not affect reserve accounts for existing portfolios."

Comments must be received on or before June 4, 2007. NAHMA's Rural Housing Committee will review the proposed rule and determine the appropriate response. For more information, click here.

So your comments can be considered in NAHMA's deliberations and can be forwarded to the appropriate agency, please send your comments by May 21, 2007 to:

Michelle Kitchen
Director of Government Affairs
National Affordable Housing Management Association (NAHMA)
400 N. Columbus Street, Suite 203
Alexandria, VA 22314