On April 26, 2024, HUD’s Office of Multifamily Asset Management sent out the following information:

The Office of Multifamily Housing Programs published a Environmental Reporting Requirements for Certain Asset Management Preservation Transactions draft notice to the multifamily housing policy drafting table for feedback.

This notice summarizes and clarifies existing environmental reporting and review requirements for five common asset management preservation transactions:

  • Section 8(bb) transfers;
  • Transfers of rental assistance with HUD-held or -insured debt and/or Use Restrictions (as authorized by Section 209);
  • Section 8 renewals with Capital Repair Projects (“Chapter 15 Renewals”);
  • Transfers of RAD PBRA Rental Assistance and Demolition; and
  • New Construction of RAD PBRA Covered Projects.

The notice is intended to reduce the complexity and processing time for such transactions for HUD staff and stakeholders.

The notice also retires the usage of HEROS partner worksheets, requiring stakeholders to enter submission requests directly into HEROS. This change will streamline the submission process, ensuring complete and correct submissions and allowing for quicker review by HUD staff. HUD will provide technical assistance to facilitate the transition for stakeholders, including transaction-specific guides and increased support on how to access and use HEROS.

Please document your feedback on this worksheet and email completed feedback worksheets to S8RPG@hud.gov. HUD will consider feedback that is received as of June 4, 2024.