Rental Assistance Demonstration (RAD) Program. Housing Authority of the City of Passaic. Presenter. William F. Snyder-Consultant Victor Cirilo, Executive Director. HUD Notice PIH 2012-32. Issued 7/26/12 Provide Instructions for the RAD program Eligibility Selection Criteria. What is RAD.
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Housing Authority of the City of Passaic
William F. Snyder-Consultant
Victor Cirilo, Executive Director
deficit $973 Billion
over the next 10 years $1.5 Trillion
What is sequestration?
Sequestration is an across-the-board reduction in Federal budgetary resources in all budget accounts that have not been exempted by statute. Under the Balanced Budget and Emergency Deficit Control Act of 1985, as amended by the Budget Control Act of 2011, the American Taxpayer Relief Act of 2012, and other relevant legislation, across-the-board reductions of $85 billion in budgetary resources were required to be ordered by the President on March 1, 2013. Sequestration reduces each agency’s budgetary resources in non-exempt accounts for the remainder of the fiscal year (which runs through September 30, 2013).
It results in an additional 5% across the board cut in all discretionary spending programs
HUD is considered discretionary spending
What will be the impact of sequestration on HUD?
HUD will attempt to minimize the impact of sequestration to the extent permitted by law. However, HUD cannot choose which programs to exempt or what percentage cuts to apply. This will mean automatic and across-the-board budget cuts at HUD. The impact of sequestration on HUD programs will be dramatic.
An approximate 5% across the board cut in HUD programs added to the already historic low proration factor!
We are proposing in excess of $40,000 per unit
Thank-you for participating!