CHFA eNews: Multifamily
chfa enews - multifamily loan compliance

modified payment schedule: replacement reserve requests in December 2017 and January 2018

November 21, 2017

Year-end Replacement Reserve Request Deadlines

For multifamily properties with CHFA loans, replacement reserve requests will be processed according to a modified schedule in December 2017 and January 2018.

  • For approved replacement reserve requests received by the close of business on 12.14.2017, payments will be issued on 12.21.2017.

  • For approved replacement reserve requests received between 12.15.2017 and 12.27.2017, payments will be issued on 01.11.2018.
Replacement reserve request forms can be accessed on CHFA's website.

As a reminder, CHFA’s replacement reserve withdrawal policy was modified earlier this year as follows.
  • Requests for reimbursement will be considered when the amount totals at least $3,000.
    • Smaller requests will be considered on a case-by-case basis (e.g., very small properties with limited operating funds).
    • The amount of a single item that requires three bids has been increased from $5,000 to $10,000.


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