Blog
HUD Releases Timeline for RAD Transactions That Close in 2024
The U.S. Department of Housing and Urban Development (HUD) released timelines for year-end closing of transactions in the Rental Assistance Demonstration (RAD) program.
The U.S. Department of Housing and Urban Development (HUD) today released timelines for year-end closing of transactions in the Rental Assistance Demonstration (RAD) program. For RAD transactions with a Nov. 30 deadline–which enables properties to receive RAD starting Jan. 1, 2025–the deadline to upload all required financing plan (for public housing) or conversion plan (for public rental assistance contract [PRAC]) documents is July 1, the deadline to receive a HUD-executed RAD Conversion Commitment (RCC) (for public housing) or conditional approval level (for PRAC) is Aug. 30, the deadline to complete a closing package is Sept. 13 and the deadline for all RAD documents to be approved and ready for HUD signatures is Nov. 15. For transactions with a Dec. 31 closing deadline, the financing plan/conversion plan documents are due Aug. 1, the HUD-executed RCC or conditional approval letter deadline is Sept. 30, the deadline to submit the closing package is Oct. 11 and the deadline for all RAD documents to be approved and ready for HUD signatures is Dec. 13.Click here to view the original post by Novogradac featured on ?novoco.com
