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RAD Program Update December 31, 2013 PowerPoint Presentation
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RAD Program Update December 31, 2013

RAD Program Update December 31, 2013

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RAD Program Update December 31, 2013

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Presentation Transcript

  1. RAD Program Update December 31, 2013

  2. First Component of RAD

  3. Application Volume

  4. Apps, CHAPs & Closings 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. Percentage of Public Housing Applications by Census Region Compared to Current Pubic Housing Projects RAD:16% PH: 29% RAD: 11% PH: 8% RAD: 17% PH: 13% RAD: 56% PH: 49% Note: This data reflects the regional breakdown of RAD applications (“projects”) received compared to the number of existing PH projects in each region.

  6. Percentage of Current PH Units by HUD Region that have Applied for RAD 15% 6% 7% 3% 7% 18% 16% 21% 22% 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 Participant Profile Top 10 Applicants by PHA • Chicago, IL – 10,935 units • El Paso, TX – 6,100 units • Nashville, TN - 5,384 units • Birmingham, AL - 5,015 units • Baltimore, MD – 4,583 units • San Francisco, CA – 4,575 units • Charlotte, NC - 3,424 units • Mobile, AL – 3,410 units • Tampa, FL – 3,065 units • Greensboro, NC – 2,195 units

  8. Project Locations

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

  10. Project Type

  11. Section 8 Conversion Choices By Project

  12. Type Of Permanent Project Financing Type of 1st Mortgage Financing (without Tax Credits)

  13. Type Of Permanent Project Financing Type of 1st Mortgage Financing (with Tax Credits)

  14. Type of LIHTCs by Project

  15. Addressing Range of Challenges 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

  16. Second Component of RAD

  17. 2nd Component Update Current Status

  18. RAD 2nd Component—RS & RAP Geography

  19. 2nd Component of RAD Update • Remaining Rent Supp and RAP Stock by FY Expiration Total RAP Units: 11,088 Total RS Units: 5,053