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RAD Program Update December 31, 2013. First Component of RAD 2.

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Presentation on theme: "RAD Program Update December 31, 2013. First Component of RAD 2."— Presentation transcript:

1 RAD Program Update December 31, 2013

2 First Component of RAD 2

3 A PPLICATION V OLUME 3

4 A PPS, CHAP S & C LOSINGS 4 Note: This data reflects applications received as of 12/31/13 and CHAPs awarded through 1/6/14. CHAP Awardees includes CNI applicants as well as Portfolio and Multiphase awards made as of 1/6/14.

5 P ERCENTAGE OF P UBLIC H OUSING A PPLICATIONS BY C ENSUS R EGION C OMPARED TO C URRENT P UBIC H OUSING P ROJECTS 5 RAD: 11% PH: 8% RAD:16% PH: 29% RAD: 56% PH: 49% RAD: 17% PH: 13% Note: This data reflects the regional breakdown of RAD applications (“projects”) received compared to the number of existing PH projects in each region.

6 P ERCENTAGE OF C URRENT PH U NITS BY HUD R EGION THAT HAVE A PPLIED FOR RAD 6 6% 7% 16% 22% 15% 21% 3%7% 18% 21% Note: This data reflects the percentage of PH units in each HUD region that have applied for RAD; note that units are considered public housing until the RAD closing is complete.

7 RAD P ARTICIPANT P ROFILE 7 Top 10 Applicants by PHA 1. Chicago, IL – 10,935 units 2. El Paso, TX – 6,100 units 3. Nashville, TN - 5,384 units 4. Birmingham, AL -5,015 units 5. Baltimore, MD – 4,583 units 6. San Francisco, CA – 4,575 units 7. Charlotte, NC - 3,424 units 8. Mobile, AL – 3,410 units 9. Tampa, FL – 3,065 units 10. Greensboro, NC – 2,195 units

8 P ROJECT L OCATIONS 8

9 S IZE OF PHA 9 Note: This data reflects the percentage of unique PHAs that have applied for RAD, by size.

10 P ROJECT T YPE 10

11 S ECTION 8 C ONVERSION C HOICES B Y P ROJECT 11

12 T YPE O F P ERMANENT P ROJECT F INANCING 12 Type of 1st Mortgage Financing (without Tax Credits)

13 T YPE O F P ERMANENT P ROJECT F INANCING 13 Type of 1st Mortgage Financing (with Tax Credits)

14 T YPE OF LIHTC S BY P ROJECT 14

15 Indicated PHA Objectives Modernize aging family & elderly properties Sub rehab of deteriorated properties Thin densities/mix-incomes via PBVs & transfer authority Demolish/replace severely distressed/obsolete properties Portfolio streamlining A DDRESSING R ANGE OF C HALLENGES 15

16 Second Component of RAD 16

17 2 ND C OMPONENT U PDATE 17 Current Status Program-TypeClosed* Not Closed- Funded** Not Closed- Not Funded*** Not Yet Approved TOTAL Mod Rehab Projects20103 Units RAP Projects Units SUP Projects Units4, ,93006,605 SUP - Retro Projects Units RAP - Retro Projects Units GRAND TOTALProjects GRAND TOTALUnits5, ,135228,218 *Closed = Executed PBV HAP Contract **Not Closed-Funded = TPV funding has been issued as voucher budget authority to the PHA for the PBV contract, owner and PHA are going through final steps before executing HAP ***Not Closed-Not Funded: These projects are approved but won't move forward until TPV funding becomes available

18 RAD 2 ND C OMPONENT —RS & RAP G EOGRAPHY 18

19 2 ND C OMPONENT OF RAD U PDATE 19 Remaining Rent Supp and RAP Stock by FY Expiration Total RAP Units: 11,088Total RS Units: 5,053


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