CARH’S BROADCAST E-MAIL – Regulatory Update

September 23, 2016

On September 21, 2016, HUD issued an Interim Evaluation Report on the Rental Assistance Demonstration (RAD) program. The report, summary, press release, and other resources are available by clicking here.

Research performed by Econometrica Inc, examined how RAD is performing and provided evidence that the program is on track to accomplish its goal of attracting substantial new capital to stabilize the physical and financial conditions of public housing properties significantly improving housing conditions for low-income residents.

According to the report, in addition to enabling the infusion of upfront capital—the $2.5 billion secured by 185 projects that closed as of October 2015—RAD appears to put converting properties on a stronger long-term financial trajectory. The interim report presents four case studies of actual RAD projects, along with a counterfactual (how the PHA might have funded equivalent investments without the opportunities presented by RAD). For each case study, the report analyzes the development budget (the budget for upfront repairs and investment) and the long-term (20-year) operating pro forma.

If you have any questions, please contact the CARH national office at carh@carh.org or 703-837-9001.