HUD’s Office of Multifamily Housing, Office of Recapitalization sent out the following information:
HUD Seeks Feedback on Section 811 and Section 202 RAD Conversions
The Consolidated Appropriations Act, 2022 authorized the conversion of properties assisted under Section 811 through RAD. To implement this new conversion option, HUD is planning to amend Section IV of the current RAD Notice and is seeking public feedback on changes to be made to Section IV that would guide the conversion of these properties. HUD is also seeking feedback on changes that could enhance program requirements governing the conversion of Section 202 PRACs.
Please send written feedback via e-mail to rad2@hud.gov with the subject line: “RAD – Section 811 Drafting Table Feedback” no later than 3:00 PM ET, Wednesday, November 23rd. As much as possible, please note page and line numbers to identify the text to which your comments apply. Please visit the Multifamily Housing Policy Drafting Table for more information and to find copy of Section IV of the RAD notice with numbered lines.
Updated RAD/Section 18 Blend Eligibility Workbook Released
HUD has updated the Workbook to Test HCC Threshold: For RAD Section 18 Blends and Opportunity Zone Rent Increases that allows PHAs to assess whether the proposed rehabilitation or construction costs of a property makes it eligible for a RAD/Section 18 construction blend (PIH 2021-07 Section 3.A.2.e) or the Opportunity Zone rent boost (Section 1.7.A.5.e of RAD Notice). The workbook compares proposed rehabilitation costs against Housing Construction Costs (HCC) data published annually by HUD to determine blend eligibility. This version of the workbook includes HCC data for 2022, 2021, and 2020 and allows users to select the applicable year based on CHAP issuance. As updated HCC numbers are released after an applicant has been issued its CHAP, the PHA may opt to use the new numbers by the time the RCC is issued. HUD will update this workbook as additional HCC data become available.