The purpose of the program is to minimize displacement of families living in multifamily rental housing projects and to maintain the amount of decent, safe, and sanitary housing affordable to them. Project purchasers may be for-profit and nonprofit organizations or cooperatives. Recipients are eligible low-income families. Rental assistance can support rehabilitation or assist tenants.
Rental assistance can support rehabilitation or assist tenants.
The Property Disposition Set-Aside program is authorized under Section 8 of the U.S. Housing Act of 1937. Subsidy requirements associated with the management and disposition of multifamily properties are authorized under Section 203 of the Housing and Community Development Amendments of 1978. The program is administered by HUD's Office of Housing. Two recent changes have made the process more efficient. The Multifamily Property Disposition Reform Act of 1994 provided more flexibility to HUD to sell properties on a subsidized and unsubsidized basis.