On September 6 and 7, approximately 100 attendees representing nearly 40 housing authorities (PHAs) of various sizes from around the country and 25 private developers, syndicators, lenders, consultants, and other interested parties attended the Rental Assistance Demonstration (RAD) Workshop, Making a RAD Deal Work, in Chicago, IL. The workshop was hosted by CLPHA, Enterprise Community Investment (Enterprise), and the National Equity Fund (NEF), and featured two days of presentations from and dialogue with members of the financial industry interested in helping housing authorities put together RAD deals.
Steve Holmquist, partner at Reno & Cavanaugh and legal counsel to CLPHA, represented CLPHA at the workshop and presented on a number of regulatory and legal issues related to RAD. Presentations included:
The workshop provided an open dialogue format for housing
authorities to ask specific questions about their potential RAD deals. Many
attendees reported that the high level of experience and expertise in the room ensured
that almost every question received a thoughtful response on how to achieve a
solution. Discussion focused on the
needs of the audience, and break-out sessions to discuss individual deals on
the second day of the workshop were structured around the specific interests of
Housing authorities can continue to connect with potential partners and experts to help with RAD deals through the RAD Capital Marketplace. The website is designed to encourage contact and information sharing among housing authorities and multifamily owners considering a RAD conversion and the lenders, investors, development partners, financial intermediaries, professional financing advisors, and consultants that offer services and products that PHAs and owners may wish to use in preparing their RAD application and/or financing plan.
CLPHA would like to hear from members planning to apply for RAD (and would be interested to hear from others on their decision not to participate). Questions about RAD can be directed to CLPHA Research & Policy Analyst Theresa Finney Dumais.