Making a RAD Deal Work
September 6-7, 2012 | Chicago

Thanks to everyone who attended this workshop for housing authorities interested in applying for RAD, hosted by CLPHA, Enterprise Community Investment, Inc., and the National Equity Fund, Inc. The workshop covered a variety of topics and included time to discuss individual deals with lenders, syndicators, and HUD.  Click on session titles in the agenda below to view presentation materials.

Agenda and Presentation Materials

Day 1: Thursday, September 6

Pre-workshop primer on affordable housing development]

Overview of RAD, Review of Key Deadlines (PDF)

    Re-Capitalizing At-Risk Stock
    Basic Proposal Requirements
    Review of Key Deadlines
    RAD Funding Limitations
Assessing Your Portfolio; Key Steps and Compliance Issues ( PDF)

    Location, Location, Location
    PNA to PCA: Quantifying Rehabilitation Needs
    Baseline Construction Considerations
    Addressing Existing Debt

    Requirements for PHAs
    Resident Rights
    RAD Application Timing
    RAD Scoring
    Application Highlights
    Post-CHAP Benchmarks to Closing
Choosing Your Development Team;
Organizational Structures and Legal Issues

    The Team You Need
    How This Works with the HUD Procurement Process

    Legal Entities Needed for a LIHTC Deal or Just a Loan
    Roles and Responsibilities of a General Partner
    Guarantee Obligations

Laying the Groundwork for Financing (PDF)

    Preparing the Initial Project Budget - Costs That Must be Included
    Preparing Your Operating Budget
    Initial Market Study - Determination of HUD Rents to Market
Using the Resources Tools on the HUD RAD Website

Day 2: Friday, September 7

RAD Case Studies (PDF)

    Financing with an FHA Loan
    Financing with the 4% LIHTC and Bonds
    Financing with the 9% LIHTC
    Pros and Cons of Each Financing Option
    [FHA 223(f) Debt Service Example (PDF)]
Other Sources of Financing (PDF)

    HFA Resources
    State and City Rescources (HOME/CDGB)

Questions about RAD can be directed to CLPHA Research and Policy Analyst Carmen Brick (202-638-1300).

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