HUD Publishes RAD for PRAC Notice for Comment
The FY 2018 Appropriations Act authorized the conversion of properties assisted by Section 202 Project Rental Assistance Contracts (PRAC). HUD has requested comments to a new draft Section 4 to be added to the Rental Assistance Demonstration (RAD) Revised Notice. The new section would allow for the conversion of these properties, and HUD has indicated it intends to alter this guidance in response to feedback. Here are some highlights from the Section 4 draft:
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