Operating Deficit Guaranty: Targeted Affordable Housing Properties With Preservation Rehabilitation (ODG-TAP) is a program designed by the United States Department of Housing and Urban Development (HUD) to guarantee the operating deficits of affordable housing units that are undergoing major repairs or preservation rehabilitation. The program provides loans to eligible property owners to cover up to 90% of the difference between the property’s rental income and its operating expenses. The ODG-TAP loans are available for existing, multi-family, rental properties with up to 200 units, that are at least 20 years old. The program is divided into two components: the Operating Deficit Guaranty, and the Targeted Affordable Preservation (TAP) program. The Operating Deficit Guaranty helps property owners finance operating deficits incurred while completing major repairs or preservation rehabilitation to the property. The TAP program helps property owners finance the preservation and rehabilitation of their properties, with the goal of preserving the affordability of the housing. There are two types of ODG-TAP loans: direct loans and subordinate loans. Direct loans are made directly to the property owner, and are used to finance the operating deficits incurred while completing the repairs and rehabilitation. Subordinate loans are provided to the property owner by a lender, and are used to finance the preservation and rehabilitation of the property.
Operating Deficit Guaranty: Targeted Affordable Housing Properties With Preservation Rehabilitation
Description
How to fill out Operating Deficit Guaranty: Targeted Affordable Housing Properties With Preservation Rehabilitation?
If you’re searching for a way to properly complete the Operating Deficit Guaranty: Targeted Affordable Housing Properties With Preservation Rehabilitation without hiring a lawyer, then you’re just in the right place. US Legal Forms has proven itself as the most extensive and reputable library of formal templates for every individual and business situation. Every piece of documentation you find on our web service is created in accordance with nationwide and state regulations, so you can be certain that your documents are in order.
Follow these simple instructions on how to acquire the ready-to-use Operating Deficit Guaranty: Targeted Affordable Housing Properties With Preservation Rehabilitation:
- Make sure the document you see on the page meets your legal situation and state regulations by checking its text description or looking through the Preview mode.
- Type in the document title in the Search tab on the top of the page and select your state from the dropdown to locate an alternative template if there are any inconsistencies.
- Repeat with the content verification and click Buy now when you are confident with the paperwork compliance with all the demands.
- ​Log in to your account and click Download. Create an account with the service and choose the subscription plan if you still don’t have one.
- Use your credit card or the PayPal option to pay for your US Legal Forms subscription. The document will be available to download right after.
- Decide in what format you want to save your Operating Deficit Guaranty: Targeted Affordable Housing Properties With Preservation Rehabilitation and download it by clicking the appropriate button.
- Upload your template to an online editor to fill out and sign it rapidly or print it out to prepare your hard copy manually.
Another great advantage of US Legal Forms is that you never lose the paperwork you acquired - you can pick any of your downloaded blanks in the My Forms tab of your profile whenever you need it.