HUD Heralds RAD Program Surpassing $10 Billion in Capital Investment

Thursday, November 12, 2020 - 9:15am

The U.S. Department of Housing and Urban Development (HUD) today announced that the Rental Assistance Demonstration (RAD) program has facilitated more than $10 billion in capital investment to improve or replace 140,000 public housing units. RAD was launched in 2012 and allows public housing and HUD’s other non-public housing legacy rental assistance programs to convert to Section 8 funding with private ownership. HUD said there is $12.57 in private and public capital leveraged for every dollar of Congressionally appropriated public housing funds under RAD. HUD also released a fact sheet on RAD.

The 2020 Novogradac Rental Assistance Demonstration Handbook provides an in-depth guide to RAD, including an overview, best practices, tips to help make key decisions and information to navigate the complexities of the program. The $10 billion investment milestone and the future of RAD will be discussed at the Novogradac 2021 RAD Public Housing Virtual Conference, Jan. 14-15, 2021.