Hud Section 108

The section 108 program is a financing tool that allows communities and states to expand the size of their cdbg programs.

Hud section 108. Section 108 s unique flexibility and range of applications makes it one of the most potent and important public investment tools that hud offers to state and local governments. The chapter provides information on and the economic development. Basically cdbg may 2014 8 1.

Many communities used section 108 funds to make loans to businesses undertaking economic development projects. This tool lists the general elements that states and local governments seeking to apply for section 108 loan guarantee assistance should include in an application to hud. This chapter covers economic development activities that are eligible for assistance under the cdbg program.

Hud office of block grant assistance. Chapter purpose contents. Section 108 borrowers with interim loans will be able to convert variable rate financing to permanent fixed rate financing.

This webinar focuses on underwriting standards for income producing real estate projects financed by hud s section 108 loan guarantee program. Hud s section 108 loan guarantee program. Section 108.

Hud section 108 loan guarantee program is the loan guarantee provision of the community development block grant cdbg program. This tool is explanatory in nature and neither replaces nor supersedes any requirements at 24 cfr subpart m 570 700 712. It is often used to catalyze private economic activity in underserved areas in cities and counties across the nation or to fill a financing gap in an important community project.

Underwriting income producing real estate projects. This training s focus includes housing commercial and mixed use real estate projects. It allows communities to transform a small portion of their cdbg funds into federally.