New Hampshire Housing Finance Authority (NHHFA) updated its replacement reserve policy, effective immediately. Key changes include:
- Requests for ordinary turnover or requests under $5,000, NHHFA pre-approval are not required. These requests should be submitted to firstname.lastname@example.org.
- Requests $5,000-$19,999 must be submitted to the properties assigned Asset Manager for pre-approval.
- Requests $20,000 and above must be submitted to the properties assigned Asset Manager, with required back-up documentation, for prior approval.
- For jobs $20,000 or greater in value, owners must solicit and receive at least three bids.
- Attachment A has been updated to clearly define ordinary turnover items.
- Attachment B form has been updated and outdated forms will be returned to the Owner/Agent for correction.