RAD Update
 
 
 
February 13, 2018 | Washington, D.C.
 
 
 
 

Budgets & FY 2018 Approps Picture for RAD


With the dust settled from last week’s whirl of activity on the Hill, here’s what we know and what is yet to come. Up against the wind-down of the latest Continuing Resolution (CR) on February 8, among other provisions, Congress agreed to budget toplines for FY208 and FY2019, which lifted the previous sequester caps dictating the total funding theoretically available for appropriations bills for this year and next. With that obstacle removed, it then extended a short-term funding bill until March 23 to work out the final details of what is now expected to be an omnibus appropriations bill for the remainder of FY 2018.

The FY 2018 appropriations bill is the vehicle that can potentially carry any RAD boosts, including an increase in the public housing cap and RAD for PRACs. Much of the THUD staff work has been completed.
 
At this point the best bet is to ask your House representatives to express their support for the Senate THUD proposals for RAD to Republican majority members of the House and Senate appropriations committee, especially Chairman Frelinghuysen in the House. A handy case point would be underscore RAD’s impact in your state, which is easily derived from data on the RAD Resource Desk, similar to the data for New Jersey—home of Chairman Frelinghuysen—below.

RAD’s IMPACT in NJ


# UNITS CONST $ LIHTC $ MORTGAGE $
Closed 4,468 75,342,533 35,376,672 55,749,182
Financing
Approved
1,956 30,222,666

CHAP
Awarded
1,136 75,446,770

Waitlist 9,000


TOTALS 16,560 $181,011,969 $35,376,672 $55,749,182
 
 
 
 
 
RAD Generates Over $5 Billion in Improvements!

​​​​​​​Here’s another amazing case point: HUD’s Recap Office has now closed on the conversion of 818 public housing properties consisting of over 88,000 units with improvements exceeding $5 billion. That work has stimulated approximately 94,700 jobs across the country. And the RAD public housing waiting list is now over 85,000 units. Wow! For more details on recent RAD outcomes, see the January 2018 edition of the Recap Office’s RAD Talk Newsletter here.
 
 
 
 
 

Trump Admin FY 2019 HUD Budget?


In what most now consider more a statement of Administration priorities than an actual budget blueprint for FY2019 given the 2-year budget agreement passed by Congress last week, the FY2019 budget proposal made by the Trump Administration relative to RAD is still a head-scratcher. It seems either a slight of budget handiwork or a continuing lack of understanding of how RAD actually works.


On one hand, HUD continues to propose the elimination of the RAD cap—and to offer $100 million in funding presumably for deeper-needs projects. But then on the other it proposes to completely eliminate Public Housing Capital Funds along with cuts to the Operating Funds budget. RAD can’t work both ways for public housing! Capital and Operating funds budgets need to be maintained at current levels in the very least.


Congress has understood this from RAD’s inception. We’ll continue to build on its understanding in making RAD work for all public housing and other RAD-convertible properties such as RAD for PRACs in the year ahead.

 
 
 
 
Contact
 
 

radcollaborative.org

 
 
 
 

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