In 2012, as part of the FY 2012 HUD Appropriations Act, Congress authorized the Rental Assistance Demonstration (RAD) to help preserve and improve low-income housing. Administered by HUD’s Office of Multifamily Housing Programs, RAD allows public housing agencies (PHAs) and owners of private, HUD-assisted housing to leverage Section 8 rental assistance contracts in order to raise private debt and equity for capital improvements.
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