Retrospective Review-Improving the Previous Participation Reviews of Prospective Multifamily Housing and Healthcare Programs Participants

This proposed rule would revise HUD's regulations for reviewing the previous participation in federal programs of certain participants seeking to take part in multifamily housing and healthcare programs administered by HUD's Office of Housing. Specifically, the proposed rule would clarify and simplify the process by which HUD reviews the previous participation of participants that have decision- making authority over their projects as one component of HUD's responsibility to assess financial and operational risk to the projects in these programs. The proposed rule would clarify which individuals and entities will be reviewed, HUD's purpose in conducting such review, and describe the review to be undertaken. By targeting more closely the individuals and actions that would be subject to prior participation review, HUD not only brings greater certainty and clarity to the process but provides HUD with flexibility as to the necessary previous participation review for entities and individuals that is not possible in a one-size fits all approach. Through this rule, HUD proposes to replace the current previous participation regulations in their entirety.