Rental Assistance Demonstration (RAD) Program Overview for Newark Housing Authority

The Rental Assistance Demonstration (RAD) Program in Newark Housing Authority aims to convert public housing programs into Project-Based Voucher contracts, leveraging private capital for repairs and offering residents more choices. The program involves steps like engaging residents, securing financing, and demonstrating property improvements to HUD. Important topics covered include eligibility criteria, project goals, and the conversion process timeline.

• RAD Program
• Public Housing
• Newark Housing Authority
• Project-Based Voucher

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1. Rental Assistance Demonstration (RAD) Program- Fourth Resident Meeting Newark Housing Authority 1

2. Presenter Danny Gonzalez-Bosques 2

3. Welcome Welcome to your 4th tenant meeting. You have been invited to participate in this meeting if you reside in one of the four sites that has been selected for the first phase of NHA s RAD conversion. Those sites are: Stephen Crane Village Wynona Lipman Gardens Walsh/ Riverside Villa James C. White If you are participating in this meeting and do not reside at one of these sites, please note that the information we are about to share does not pertain to any other site other than the four included in Phase I of NHA s RAD Conversion. The residents at these sites were given the opportunity to submit their questions in advance. Answers to those questions will be included in this presentation. If you have other questions, you would like to ask the team after this meeting, please submit those questions to your Asset Manager or use the form found on our website (www.newarkha.org)under About us; RAD and 4th tenant meeting. Questions received by June 29th, 2020 will be addressed by the RAD TEAM in writing and our response will be mailed. If you are interested in participating in the Spanish version of this meeting, please check your Spanish flyer for the meeting ID and call in at 11 am to hear this presentation in Spanish. 3

4. HUD Notice PIH 2012-32REV-4 Issued 7/26/12 Revised 7/2/13 Revised 1/12/17 Provide Instructions for the RAD program: Eligibility Selection Criteria Revised 9/5/19 4

5. What is RAD ? RAD converts the current public housing program Annual Contributions Contract (ACC) into a Project Based Voucher (PBV) or Project Based Rental Assistance (PBRA) contract. RAD enables the Housing Authority to leverage private capital to make capital repairs. Offers residents greater choice & mobility 5

6. RADGoals Provide a stable and predictable funding source Leverage private capital dollars to preserve assets (renovation of public housing units) Offer residents greater choice and mobility 6

7. What are the steps in a RAD Conversion? A RAD conversion typically takes between 12 and 24 months to get to closing. There are multiple steps in engaging with residents, securing financing and demonstrating to HUD that the property will be improved and remain in good physical condition after conversion.

8. What is NHAs progress with steps in their RAD Conversion The steps for conversion are: Preparation of the application HUD Issues initial approval through a Commitment to enter into a Housing Assistance Payment (CHAP) PHA amends its annual plan PHA completes and submits a financing plan to HUD 1) HUD Issues a RAD Conversion Commitment (RCC) 2) The closing takes place and the property is converted to Project Based Voucher Assistance 3) Construction commences 8 NOTE: The Housing Authority may withdraw from the program anytime up to closing!

9. What is NHA's RAD Team currently working on? 1. We are working with our Lender, Prudential, to complete all of the financial and legal requirements necessary to present to HUD our final financial pro-formas for RAD PHASE I and acquire their approval. 2. We are in the process of updating our Capital Needs Assessments. You will see engineers walking the properties and inspecting the grounds, common areas and vacant units. We have a company on the properties taking measurements and creating current surveys of the 4 RAD properties. 3. 4. We are updating our procedures and working with our development partners to adhere to CDC guidance and guidance from state and local health officials as it relates to COVIVD-19. We assure you that NHA s RAD Team is concerned about your health and safety and will take every feasible pre-cautionary measure to ensure the safety of all of our residents, especially our most vulnerable populations, as we move forward with RAD. 9

10. CONCLUSION As we discussed in our previous tenant meetings, due to existing conditions and the rehabilitation needs at your properties, it appears that the only viable option for rehabilitation is through a RAD private/public partnership conversion. We are hoping to close on our deal by the end of this year in an effort to begin making upgrades to your properties in 2021! 10

11. Answers to Questions Submitted Before the Meeting 11

12. Question & Answers Thank-you! 12