Rental Assistance Demonstration (RAD)
The Rental Assistance Demonstration program was created to help PHA’s preserve and improve public housing properties. By allowing PHA’s to leverage public and private debt and equity, they’re able to reinvest in the public housing stock and make needed renovations.
Gives HUD’s “legacy” programs, which includes Rent Supplement, Rental Assistance Payment, and Section 8 Moderate Rehabilitation, the option to enter into long-term contracts that will allow for the financing of needed improvements.
Residents will maintain the rights they possessed in the public housing program, in addition to the protections under RAD. Prior to, and during conversion, residents maintain their claim to the property, and will be provided relocation protection if they must temporarily leave the premise due to construction.
San Francisco Housing Authority - Entire Portfolio
Through a combination of HUD RAD and Section 18 Demolition/Disposition programs, greater than 8,000 units of low-income housing in 33 properties have been preserved. D3G worked with four (4) different development teams to bring this inspiring transformation to fruition.
"Love Funding has been working with Dominion Due Diligence Group for over 20 years. D3G is on the front lines with lenders and HUD, helping to work through due diligence related issues as well as creative solutions designed to better measure risk. D3G’s commitment to this industry is unmatched and Love Funding looks forward to many more years together as business partners."Jon Camps ( President, Love Funding )
"I have been working with Dominion Due Diligence for over 15 years, and they consistently deliver excellent service. Their team has deep industry knowledge and an excellent reputation with HUD. I know that when I get a report from Dominion, they will stand behind their work, and they always work to identify creative solutions."Ken Buchanan ( Director of FHA Underwriting, Walker & Dunlop )
"We have been working with Dominion Due Diligence Group (D3G) for over 2 decades and their knowledge in our industry goes above and beyond. D3G continues to find creative solutions and keep us ahead of the affordable housing curve due to their proactive approach and deep understanding of the HUD regulations."Trever Smith ( Managing Director, FHA Chief Underwriter, ORIX Real Estate Capital )
Rob Talks Rad
Owner and CEO, Rob Hazelton, explains RAD and the importance it plays in the revitalization of public housing and surrounding communities.
D3G’s 25 years of experience with FHA mortgage insurance, Section 8 PBRA/PBVA, Section 9, Senior Housing Restructure, LIHTC, and mixed-financing real estate inspection and due diligence serves RAD transactions very well. D3G has the technical affordable housing expertise to guide PHA’s on financing options, and each of our Subject Matter Experts (SME’s) remains at the forefront of the housing industry trends. We can assist with the complex decisions of property transformation and know how best to make RAD work by using the tailored financing options available.