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09.06.19

RAD Updates Published in Rev-4 (Part 3: Rent Supp and RAP Conversions)

HUD has published Rev-4 of the RAD Notice (“Rev-4”) on its website (now renumbered as Notice H-2019-09 / PIH-2019-23(HA)).  This blog post focuses on Rent Supp and RAP conversions.  For more information on the Rev-4 updates to the other RAD conversion types – public housing and Mod Rehab – and the new guidance on “RAD for PRAC,” implementing the authority to convert Section 202 PRAC projects through RAD to long-term Section 8 contracts.  For more information, see Parts 1, 2 and 4 of this blog entry.)
With respect to Rent Supp and RAP conversions, the biggest news this year is that there are only five RAP projects left eligible for conversion.  All Rent Supp projects have converted!  With this dwindling number, HUD has set a deadline for conversions –
  • Requests for conversion must be submitted by September 30, 2019.
  • Conversions must close by November 30, 2019.
If you are one of the five RAP owners left – what are you waiting for?!

Tags: RAD