Understanding the 2530 (Previous Participation) Processing Guide - Don't Let Flags Prevent You from Closing Your Next HUD Transaction
Tuesday, April 23, 2019
2:00 - 4:00 PM EDT
The Multifamily Industry still struggles with submitting a Previous Participation Certification (Informally known as the ‘HUD 2530 process’) online through Active Partners Performance System (APPS) or via paper on form HUD 2530. Many are unaware of how to prepare a 2530 or conform their report to HUD’s new regulations issued on October 20, 2016, in 24 CFR part 200, subpart H and Processing Guide for the Previous Participation Review. The guide provides more specific details and examples to aid in preparing an application to HUD. This webcast, hosted by Mr. Vinnie Viola and special guest and subject matter expert Ms. Rosemarie Harris, will discuss the process improvements, new requirements and how to conform your existing 2530 to the new process. Ms. Harris, principal owner of Secured Systems Consulting, has over 20 years’ experience in the Previous Participation Review process.
- Events that trigger a 2530 submission.
- 'Controlling Participant' and how to identify them.
- HUD review of your application.
- Proactive steps to achieve HUD approval.
- New Flag System and it can impact your filing.
Is This Training for Me?
This training is ideal for multifamily professionals with decision making authority over their HUD projects as well as stakeholders that assist in the preparation / review of Previous Participation Certifications:
- Multifamily Housing and Healthcare Owners
- Managing Agents
- General Contractors
- Lenders and Investors
- Others interested in learning about HUD’s 2530 process.
Contact Vinnie with questions about this training and group discounts of five or more at 617-905-6340 or firstname.lastname@example.org.
About the Presenters
Rosemarie Harris is the principal owner of Secured Systems Consulting. She serves a variety of clients from owners, agents, attorneys and lenders on regulatory matters with a special focus on the HUD 2530 Process. Prior to starting Secured Systems, Ms. Harris was the Director of Regulatory Affairs for Aimco, the largest owner of affordable properties. During her tenure, she worked on several billions of dollars in transactions on large mergers and tax credit preservation deals, while working through some of the most challenging 2530 flag issues an owner could face. In 1998, she was selected by HUD Headquarters to be a key contributor in the online 2530 process we now know as Active Partners Performance System (APPS) and has been involved with further development ever since.
Vinnie Viola, MPA, HCCP, is principal and founder of Birch Island Real Estate Consulting. His company provides consulting services and trainings on multifamily asset management and the Low-Income Housing Tax Credit (LIHTC) program to owners, developers, operators and investors of multifamily housing funded with tax credit equity. With over 25 years’ experience, Mr. Viola has worked in for-profit, government and not-for-profit organizations that invest in, manage and regulate affordable housing. His career includes ten years in various leadership roles at Boston Financial Investment Management and Boston Capital, through which he gained expertise with asset management best practices. In these roles, Mr. Viola participated in hundreds of investment committee meetings for prospective tax credit investments. He proactively managed thousands of rental units in hundreds of investment partnerships, comprising over $1 BN in investor contributed equity. Mr. Viola received his Bachelor of Arts in Geography with concentration in urban planning from the University of Massachusetts Boston and Master of Public Affairs from the University of Texas Dallas. He is an active member of NH & RA's Asset Management Council, a peer network that convenes affordable housing executives from multifamily development firms as well as syndicators, tax credit investors and lenders, to develop operational best practices.