On January 19, 2017, HUD announced the publication of Revision 3 of the RAD Notice in the Federal Register, which makes effective the provisions in RAD Notice (PIH 2012-32 / H 2017-03 Rev 3), with the exception of three provisions related to selection and eligibility criteria. A blackline version showing the changes made in Revision 3 as compared to Revision 2 is also available. HUD will host two trainings on the RAD Notice revision changes. Please see additional details and how to register below:
RAD Notice Revision 3 Training: Public Housing Conversion
Date: Tuesday, February 21 3:00-4:30
Register Here: https://attendee.gotowebinar.com/register/8269319580933039873
RAD Notice Revision 3 Training: Mod Rehab, Mod Rehab SRO, Rent Supp, and RAP Conversions
Date: Thursday, February 23, 3:00-4:30
Register Here: https://attendee.gotowebinar.com/register/817145327704528129
Each of these webinars will be recorded and posted for public viewing.
NH&RA, on behalf of its RAD User Group, is submitting a comment letter this week responding to Revision 3. The RAD User Group met by conference call to discuss the changes.
The comment letter calls for a change to the proposed developer fee in the Revision, stressing the fee as important for mitigating risk, maintaining operating reserves, supplying PHAs with needed compensation, and encouraging large and efficient bundled transactions. The letter also speaks to delaying implementation of the CNA e-Tool and asks for clarity regarding the definition of “contiguous” as it relates to HOPE VI Projects.