Last week on its RAD Tools webpage, HUD posted a spreadsheet showing updated 2014 rent levels for the Rental Assistance Demonstration (RAD). The new spreadsheet updates preliminary figures posted in June 2014. AS HUD announced in June:
Upon an increase in the RAD cap, the department will use the fiscal year (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.
The RAD cap was increased from 60,000 to 185,000 units under 2015 appropriations. As noted in the revised spreadsheet:
The table below includes HUD's calculations of RAD contract rents for each public housing property based on 2014 appropriation levels, which will form the basis of the conversion rents for properties awarded CHAPs (commitment to enter into a housing assistance payments contract) as a result of the increase in the RAD unit cap.
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