HUD announced the volume of RAD for Section 202/Project Rental Assistance Contract (RAD for PRAC) conversion plan submissions this calendar year have used all Preservation Rent Increase (PRI) funding currently available.
As a result, any new RAD for PRAC conversion plan submissions with PRI after May 29, 2026, will be waitlisted and will be evaluated on a first-come-first-serve basis.
HUD’s priority is to assess available funding resources and obligations associated with existing conversion plan submissions as of June 25.