RAD Program Update
December 31, 2013
First Component of RAD
2
APPLICATION VOLUME
3
APPS, CHAPS & CLOSINGS
PENDING
APPLICATIONS
CURRENT CHAP
AWARDEES
CLOSED
No.
Units
PHAs
No.
Units
PHAs
No.
Units
PHAs
First Component
- PHA
674
84,127
282
322
54,506
158
14
1,287
10
First Component
– Mod Rehab
9
974
-
4
559
-
0
0
-
Multiphase
Awards
-
2,576
19
-
-
-
-
-
-
Portfolio Awards
-
32,019
64
-
-
-
-
-
-
683
119,696
282
326
55,065
158
14
1,287
10
TOTAL:
GRAND TOTAL
(PROJECTS)
1,023
GRAND TOTAL
(UNITS)
176,048
GRAND TOTAL
(UNIQUE PHAs)
382
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.
4
PERCENTAGE OF PUBLIC HOUSING APPLICATIONS BY CENSUS
REGION COMPARED TO CURRENT PUBIC HOUSING PROJECTS
RAD: 11%
PH: 8%
RAD:16%
PH: 29%
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.
5
PERCENTAGE OF CURRENT PH UNITS BY HUD REGION THAT HAVE
APPLIED FOR RAD
7%
15%
3%
6%
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.
6
RAD PARTICIPANT PROFILE
Top 10 Applicants by PHA
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Chicago, IL –
El Paso, TX –
Nashville, TN Birmingham, AL Baltimore, MD –
San Francisco, CA –
Charlotte, NC Mobile, AL –
Tampa, FL –
Greensboro, NC –
10,935 units
6,100 units
5,384 units
5,015 units
4,583 units
4,575 units
3,424 units
3,410 units
3,065 units
2,195 units
7
PROJECT LOCATIONS
8
SIZE OF PHA
Note: This data reflects the percentage of unique PHAs that have applied for RAD, by size.
9
PROJECT TYPE
10
SECTION 8 CONVERSION CHOICES BY PROJECT
11
TYPE OF PERMANENT PROJECT FINANCING
Type of 1st Mortgage Financing (without Tax Credits)
12
TYPE OF PERMANENT PROJECT FINANCING
Type of 1st Mortgage Financing (with Tax Credits)
13
TYPE OF LIHTCS BY PROJECT
14
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
15
Second Component of RAD
16
2ND COMPONENT UPDATE
Current Status
Closed*
Not ClosedFunded**
Projects
Units
Projects
Units
Projects
Units
Projects
Units
Projects
Units
2
300
5
649
37
4,351
4
280
2
71
0
0
1
25
4
324
2
10
1
51
GRAND TOTAL Projects
GRAND TOTAL Units
50
5,651
8
410
Program-Type
Mod Rehab
RAP
SUP
SUP - Retro
RAP - Retro
Not ClosedNot Yet
Not
Approved
Funded***
1
0
205
0
0
0
0
0
15
0
1,930
0
0
1
0
22
0
0
0
0
16
2,135
1
22
TOTAL
3
505
6
674
56
6,605
7
312
3
122
75
8,218
*Closed = Executed PBV HAP Contract
**Not Closed-Funded = TPV funding has been issued as voucher budget authority to the PHA for the PBV contract, owner and PHA are
going through final steps before executing HAP
***Not Closed-Not Funded: These projects are approved but won't move forward until TPV funding becomes available
17
RAD 2ND COMPONENT—RS & RAP GEOGRAPHY
Highly Concentrated in a Few States
WA
VA 2%
PA 3%
1%
Other CA
7% 3%
CT
1%
IL
6%
MA
15%
NY
29%
MD
4%
MI
12%
NJ
15%
MN
2%
18
2ND COMPONENT OF RAD UPDATE
•
Remaining Rent Supp and RAP Stock by FY Expiration
Total RAP Units: 11,088
Total RS Units: 5,053
19