United States Department of Agriculture
PN 635: Changes to Form RD 3560-12
January 17, 2025
Summary
USDA has revised Form RD 3560-12 (Request for Authorization to Withdraw Reserve Funds) and its FMI, updating the dollar thresholds for required bids on capital needs work. For properties with 24 or fewer units, borrowers must attach invoices or scope and cost estimates for items over $10,000; for 25 or more units, the threshold is $25,000. The form also now includes the borrower identification number and number of rental units.
PROCEDURE NOTICE
| FORM REPLACEMENT | |
|---|---|
| RD 3560-12 (WSAL) | REQUEST FOR AUTHORIZATION TO WITHDRAW RESERVE FUNDS dated 01-25. Prescribed in HB-2-3560. This Form and FMI are revised to reflect the new dollar amount thresholds for required bids for capital needs work on an MFH property. (For properties with 24 units or less, the borrower must attach invoices or scope of work and cost estimates for items in excess of $10,000. For properties with 25 units or more, the borrower must attach invoices or scope of work and cost estimates for items in excess of $25,000.) |
The form is also revised to include the Borrower identification number and number of rental units at the property. These minor changes allow MFH staff the appropriate information to approve or deny the withdrawal request. The Form and FMI can be located on the eForms website eForms Home (usda.gov).
| REMOVE | INSERT |
|---|---|
| FMI dated 02-24-05. | FMI revised 01-17-25. |
oOo
Source: https://www.rd.usda.gov/media/file/download/pn635.pdf
Common questions
- What does "PN 635: Changes to Form RD 3560-12" cover?
- USDA has revised Form RD 3560-12 (Request for Authorization to Withdraw Reserve Funds) and its FMI, updating the dollar thresholds for required bids on…
- Which agency issued this update?
- This update was issued by United States Department of Agriculture.
- When was it published?
- It was published on January 17, 2025.
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