The U.S. Department of Housing and Urban Development (HUD) initiated the Rental Assistance Demonstration (RAD) as a tool for preserving affordable housing and addressing the growing backlog of capital improvement needs for public housing and HUD-subsidized projects across the nation. RAD seeks to preserve at-risk affordable housing by converting the federal rental subsidy provided by the public housing program (First Component), or legacy subsidy programs (Second Component) to the Section 8 program, using either project-based-rental assistance (PBRA) or project-based vouchers (PBV). This Guide details public housing conversions under the First Component, but does not cover the conversion of affordable units in privately-owned properties that receive assistance under legacy subsidy programs under the Second Component. Table of Contents:
• Program Overview • Feasibility Analysis • Resident Engagement • Application Submission • Statutory and Regulatory Waivers and Considerations • Resident Protections • Relocation • CHAP Award and Pre-Financing Plan Milestones • Financing Plan Submission • Closing Process • Post-Conversion Processes • RAD/Section 18 Blend • Restore-Rebuild • Conclusion
