The Congressional Budget Office released an updated guide to federal housing programs, entitled Federal Housing Assistance for Low-Income Households (September 2015). For the first time, the guide includes the Rental Assistance Demonstration program.
According to the October 2015 RAD Blast, the guide explains the program as follows:
“Lawmakers could also increase access to private funds by authorizing an expansion of the Rental Assistance Demonstration Program. Under that program, PHAs convert public housing to projectbased rental assistance or to project-based HCVs. The property owners can then renovate or redevelop the units using private sources of financing — such as conventional mortgages — and the LIHTC…An advantage of this option is its potential for improving the condition of properties used to provide assistance.“
