RAD APPLICATION LIVE Q&A October 5, 2012 Greg Byrne William Lavy

Agenda Welcome The Initial Application Period Advantage Why RAD? RAD Resources Update Partial Conversion demo Your Questions RAD L IVE Q&A 2

Objective: We’re here to help you, the PHAs, answer questions related to submitting a successful RAD application for the Initial Application window W ELCOME 3

4 Send us your questions! Here’s how: your questions to “Raise your hand” by clicking on the icon and the presenter will un-mute your line so you can ask your question. Use the “Question” feature on your attendee control panel to type a question Note: Questions will be reviewed and responded to live at the end of the webcast. If we run out of time, look for answers in the FAQ document on

Why Apply Now? The Initial Application period opened on 9/24 and closes on 10/24 The demonstration is limited to 60,000 units and has various caps by region, PHA size and Mixed Finance projects If you wait to submit after 10/24, the overall program could be over subscribed and/or your regional/PHA size pool could be full! I NITIAL A PPLICATION P ERIOD A DVANTAGE 5

Regulatory Simplification Community Service The Public Housing Assessment System Annual Plans Public Housing Procurement Rules Specialized Operating Subsidy Calculations Annual Prorations of Operating Subsidy PIC, etc. W HY RAD? 6

Recapitalization of Housing Stock Leverage private debt and equity Historically low interest rates W HY RAD? 7

Potential Impact of Today’s Low Interest Rates on YOUR Property: Note: The 3.45% combined rate reflects many recent 223(f) transactions. W HY RAD? 8 Property OneProperty Two Units 100 Mortgage Term 35 years Debt Coverage 1.20 NOI $130/PUPM Interest Rate (with MIP) 6.45%3.45% Supportable Mortgage $1,800,000$2,650,000 Supportable Mortgage/Unit $18,000$26,500

Applications available for download on PHA Applications are customized by state New Version of PHA Application released on 10/4/12 Prerecorded webcasts available to walk you through completing an application RAD R ESOURCE U PDATE 9

Visit the RAD Resource Desk at Submit Questions Review FAQs, updated daily Search RAD R ESOURCE U PDATE 10

Have you reviewed the posted FAQs? Current Q&As address many application issues such as: Proposed reductions to operating expenses Required application attachments Choice Mobility Application fatal errors & thresholds Partial conversions RAD R ESOURCE U PDATE 11

Partial Conversion Demo RAD R ESOURCE U PDATE 12

Quick Application Tips Complete the Application in sequence The application is designed to flow from top to bottom and later inputs rely on information completed in the early sections Jumping from section to section will likely result in errors RAD R ESOURCE U PDATE 13

Quick Application Tips Completing “The Narratives” section (PHA Sect. 15; Mod Rehab Section 11): Land, Location/Neighborhood, Physical Plant Known Environmental Risks Accessibility Modifications Market Competitiveness Proposed Relocation Plans Development Team Capacity RAD R ESOURCE U PDATE 14

L IVE Q&A 15 Send us your questions! Here’s how: your questions now to “Raise your hand” by clicking on the icon and the presenter will un-mute your line so you can ask your question Use the “Question” feature on your attendee control panel to type a question Note: Questions will be reviewed and responded to live at the end of the webcast. If we run out of time, look for answers in the FAQ document on

U PCOMING L IVE Q&A W EBCASTS 16 October 12, 2012 – 2-3pm EST October 19, 2012 – 2-3pm EST