HUD posts preliminary RAD rents for 2014
Today on its RAD Tools website, HUD posted a spreadsheet showing preliminary 2014 rent levels for the Rental Assistance Demonstration (RAD). The spreadsheet contains HUD's preliminary calculation of RAD rents for each public housing property based on 2014 appropriations levels.
As part of its budget request for fiscal year (FY) 2015, HUD has requested an increase in the cap on RAD conversions from the current limit of 60,000 units. As stated in today’s announcement:
Upon an increase in the RAD cap, the Department will use the FY 2014 funding levels to set RAD rents for all pending, active applications above RAD’s current 60,000 unit threshold that are currently in hand or received in 2014. After further revision, HUD will update the data in the application, inventory assessment tool, and maximum first mortgage summary tool.
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