In a Federal Register notice today, the Department of Housing and Urban Development announced details for increasing the unit cap from 185,000 to 225,000 for the Rental Assistance Demonstration (RAD) program.
On May 5, the 2017 Appropriations Act amended the RAD statute by increasing the cap to 225,000 units and extending the period for project applications until Sept. 30, 2020. Per the RAD statute, HUD must select properties from applications for conversion as part of RAD through a competitive process. HUD will use the existing waiting list, according to the notice.
For public housing authorities (PHAs) that have reserved their position on the waiting list by submitting a letter of interest (LOI) and that were among the next 40,000 units on the waiting list, the publication of the notice begins the 60-day clock for PHAs to submit a complete RAD application, portfolio award request, or multi-phase award covering the units reserved in their LOI, explained the RAD Collaborative.
Eligible PHAs that do not submit a complete application within 60 days will forfeit their position on the waiting list.
Read the notice for details.
