HUD Launches RAD Webpage

Following the passage of the Rental Assistance Demonstration (RAD) program in the FY12 appropriations bill late last year, HUD recently launched a new webpage to provide information on the RAD tools for preserving HUD-assisted housing. Under RAD, public housing and Section 8 Moderate Rehabilitation (Mod Rehab) properties can covert to long-term project-based Section 8 or project-based voucher contracts. Currently Mod Rehab properties can only renew their project-based rental assistance contracts for one-year terms, which do not attract private investment for preservation. The initial limit on conversion under this provision will be 60,000 units nationally. RAD also allows for the conversion of tenant-based vouchers received at Mod Rehab, Rent Supplement (Rent Supp), and Rental Assistance Payment (RAP) properties following a contract opt-out or expiration to a renewable, long-term project-based assistance contract. This creates the possibility of keeping rental assistance within the community and, again, attracting private investment for rehabilitation. Currently, Rent Supp and RAP properties can not renew their project-based assistance contracts. HUD will post all relevant RAD information, including notices and application materials, on the new webpage as it becomes available. Click here to visit HUD’s RAD webpage.

— Posted on 1/23/2012