Rental Assistance Demonstration

RAD: A Key Tool for Preserving and Recapitalizing Public Housing

The Rental Assistance Demonstration (RAD) is a preservation program focused on protecting and improving the nation’s at-risk public housing stock. RAD allows housing authorities to leverage private capital through a variety of proven financing tools as a key solution in tackling the nearly $26 billion in unmet capital backlog needs in the Public Housing Program. RAD was authorized with a unit cap of 60,000 in the FY12 appropriations bill. However, RAD applications seeking commitments for over 180,000 units have already been received. During its initial authorization, RAD did not receive incremental funding due to the constrained fiscal environment.

Expanding RAD to Meet the Need

CLPHA urges Congress to:

  • immediately raise the authorized unit cap for RAD to enable HUD to continue to process the applications already received.
  • eliminate the authorized unit cap on future applications for RAD conversions.
  • provide sufficient funding to enable larger housing authorities the opportunity to more fully participate in RAD in FY15.



Joint industry letter urging Congress to increase RAD cap in FY15 appropriations (5/16/2014)

Coalition News Release

Coalition Letter of Support - House

Coalition Letter of Support - Senate

HUD Overview of RAD proposal

Legislative Draft of RAD Proposal


Reports from Recap Real Estate Advisors:


Presentations

RAD Conversion Case Studies (Summer 2012 CLPHA meeting)

Presentations from the RAD workshop in Chicago (September 6-7, 2012)

Tools

RAD Capital Marketplace Website (launched August 2012)

CLPHA, the National Equity Fund, and Enterprise Community Investment have launched the RAD Capital Marketplace, a website tool designed to encourage contact and information sharing among housing authorities considering a conversion of assistance under RAD and the lenders, investors, development partners, financial intermediaries, professional financing advisors, and consultants who offer services and products that housing authorities may wish to use in preparing their application and/or financing plan.