CHFA eNews: Multifamily 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. Connect with CHFA!
