Getting Ready for RAD for PRAC

Regulation | August 07, 2018 | by Colleen Bloom

Coming soon to interested 202/PRAC providers – find out how communities can leverage private capital to preserve their affordable housing over the long-term! LeadingAge is out in front and working behind the scenes to make sure members are equipped and ready to move forward once the guidance is released, including a free call-in to highlight key elements like eligibility, timeframes and upcoming education offerings.

In 2017, LeadingAge members successfully urged Congress to allow interested Section 202/PRAC communities to convert their rental assistance to the Section 8 platform though an expansion of the Rental Assistance Demonstration (RAD) program. With passage of the HUD FY18 budget, RAD for PRAC became a reality

Since that time, LeadingAge has engaged members of the self-appointed Housing Advisory Group to discuss and provide recommendations as to how HUD should best implement its new RAD for PRAC authority, and helped to coordinate discussions among key external stakeholders as well.

RAD for PRAC Implementing Guidance – Coming soon from HUD

HUD says that implementing guidance is still expected this fall.

LeadingAge to Provide Rapid Access to Information and Education

As soon as the guidance is issued, LeadingAge will disseminate broadly across our listservs an announcement detailing where members can find the guidance along with the date for an informational phone call LeadingAge will host within days of its release. Additional education opportunities are already being explored, and details will be shared on the phone call.

This is an exciting opportunity for members with PRAC properties that need additional capital resources.