NAHMAnalysis - "GAO Report: HUD Needs to Take Action to Improve Metrics and Ongoing Oversight"
Today, NAHMA published a new NAHMAnalysis titled “GAO Report: HUD Needs to Take Action to Improve Metrics and Ongoing Oversight of RAD.”
In fiscal year (FY) 2012, the Rental Assistance Demonstration (RAD) program was authorized for HUD to address an estimated $25 billion in unmet capital needs in the public housing stock. As evidenced by the recent FY18 omnibus funding bill, the Rental Assistance Demonstration (RAD) Program has strong bi-partisan support in Congress: Under the funding bill, the authorization for RAD was extended to 2024, the cap on RAD conversions was more than doubled (from 225,000 to 455,000 units), and RAD was expanded to allow Section 202 Project Rental Assistance Contract conversions (RAD for PRAC).
In light of these positive developments, RAD has also received scrutiny from the Government Accountability Office (GAO). In March 2018, the GAO released a report on RAD titled “Rental Assistance Demonstration: HUD Needs to Take Action to Improve Metrics and Ongoing Oversight.” This NAHMAnalysis examines key findings of the GAO report and its recommendations to improve the RAD program.
Juliana Bilowich, Government Affairs Coordinator
National Affordable Housing Management Association
400 N. Columbus St., Suite 203, Alexandria, VA 22314
Phone 703-683-8630, ext.116 Email email@example.com, Website www.nahma.org
NAHMA is the leading voice for affordable housing management, advocating on behalf of multifamily property managers and owners whose mission is to provide quality affordable housing.