If you work in the area of HUD-insured multifamily or healthcare loans, you are likely to have encountered a floodplain on a property prior to a HUD application and wondered “what do I do now?” You would not be alone. HUD’s environmental requirements in 24 CFR Part 50 are some of the most daunting and least understood elements of the HUD loan process. If your property is located in a floodplain or designated floodway, HUD’s floodplain management requirements at 24 CFR Part 55, specifically, have the potential to add project costs, delay loan application processing or even prohibit HUD assistance all together...
How Does HUD’s New Floodplain Management Rule Impact Potential FHA-Insured Projects?
Dinsmore & Shohl LLP, September 2024
