RAD Readiness Training Overview and Guidelines
Discover the role of Readiness Transaction Managers in the Rental Assistance Demonstration (RAD) program and learn about the key steps involved in RAD Round 2. Understand the application process, financing requirements, and the responsibilities of the PHA. Gain insights on managing timelines, accessing resources, and ensuring successful submissions for RAD conversions.
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Presentation Transcript
RENTAL ASSISTANCE DEMONSTRATION (RAD) Readiness Transaction Manager Introductory Training February 25, 2015
PURPOSE Define the Role of the Readiness TM Present the Enhancements to the RAD Resource Desk 2
AGENDA Instructions Purpose Overview of RAD Round 2 Define the Readiness Transaction Manager ( TM ) Available PHA Resources RAD Resource Desk 3
GOTO WEBINAR INSTRUCTIONS Ask questions! Here s how: Raise your hand by clicking on the hand icon and the presenter will un-mute your line so you can ask your question live Note: To do this, you MUST call the dial-in number shown on your attendee control panel and input the audio PIN shown, which is unique to each attendee Send in questions via the Question feature or email them to hud@rad.gov; answers to those questions will be provided after the webcast and posted to the FAQs 4
OVERVIEWOF RAD ROUND 2 PHA Enters PIC Removal Request (30 Days from CHAP Award) PHA Applies CHAP Awarded Readiness TM Assigned; Kick- Off Call Held Readiness Check; Financing TM Assigned Monthly Check- In Calls PHA Submits Financing Plan (180 Days from CHAP Award) Closing (30-60 Days from RCC Issued) RCC Issued (60 Days from FP Submission) Note: The Financing Plan consists of all supporting documentation including the RPCA, FHEO Checklist, Lender Commitments, etc. 5
OVERVIEWOF RAD ROUND 2 Applicants 285 PHAs Approximately 700 AMPS Approximately 120,000 Units Review Teams Existing Recap RAD Transaction Managers Multi-Amp Conversions Contractor (Enterprise) Team Single AMP Conversions High Profile PHAs 6
READINESS TM ROLE Guide to the RAD Program Direct the PHA to available resources Recommend additional expertise when possible Timeline Management Regular contact to keep the transaction moving forward Set achievable goals for submission Access the Readiness of the PHA s Financing Plan Administrative Record Hold PHAs accountable Summary information for management Detailed comments for handoff to Financing TM 7
READINESS TM ROLEVS FINANCING TM ROLE Readiness TM Financing TM Kick Off Call Monthly Check In Regular Correspondence Documenting Progress Guide to Resources Amended CHAPs for Unit Changes (count or configuration) Recommend Milestone Extensions Review Adequacy of Financing Plan Submission Review & Approve Financing Plans Approve Environmental Reviews for non-FHA Part 50 Transactions Present to RAD Approval Committee (where required) Produce the RAD Conversion Commitment 8
PHA RESOURCES Welcome Kit Program Background and Tips RAD Resource Desk Library of Guides and Tools RPCA Guide Financing Plan Guides Communication Portal Document Submission Portal Technical Assistance PHA Funds can be spend on Pre-Development Costs Limited HUD provided TA 9
RAD RESOURCE DESK Transaction Manager Interface Focused on PHA Provide online Readiness evaluation Administrative Record PIH Interface Tracking of required approvals Detailed information on each conversion, by PHA PHA Interface Direct interaction with the TM Confirmation of transaction specific issues Current status of required submissions and approvals 10
RAD RESOURCE DESK Correspondence Tracking Readiness TM Kick Off and Check In Call Summaries PHA Response and/or Correction Detailed History Financing Plan Submission Maintain PHA s Focus on this single date/deliverable Ensure the PHA s Readiness to submit Provide a record steps taken to meet this goal Milestone Tracking Limited to Financing Plan and Beyond 11
RAD READINESS TM INTRODUCTORY TRAINING Any Questions? 12
