The undersigned organizations write today to support H.R. 3873, the Section 515 Rural Housing Property Transfer Improvement Act of 2007 (“H.R. 3873”). This bill will help provide guidance to Rural Development at the U.S. Department of Agriculture about transfer processing. Transfer processing has become an important preservation tool. Many aging owners seek to sell their properties. Others seek transfer to a new entity and resyndication with low-income housing tax credits. As such, transfers become an important tool for preservation.
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