RAD-All the Latest News!Texas Housing Conference

July 28-30, 2014Hilton HotelAustin, TX

PresentersModerator

Terri Anderson, Anderson Capital

Panel MembersJerry Anderson, Gill Group

Elizabeth Arteaga, HUDBarry Palmer, Coats | Rose

Deborah Van Amerongen, Nixon Peabody

RAD Update

What’s happening now?

Jerry R. Anderson

1. Current Unit Cap vs. Proposed Unit Cap

2. What is happening with current “waiting list” applications

3. Current Closing projections

4. Program Improvements

RAD Cap

60,000 vs. 180,000/185,000

What is the status?

What will HUD do for waiting list applicants?

Continue to work with Congress to lift the unit cap

Complete reviews of RAD applications – expect most reviews will be completed within 30 days, the rest in 60 days

Issue conditional approvals pending the lifting of the unit cap

Provide technical assistance for applicants to help prepare to make transactions go smoothly

If and when CHAPs are withdrawn/revoked, pull projects from wait list – small number to date

What waiting list PHAs can do!

Submit more applications!

Study PIH Notice 2012-32 REV 1

Training Materials

Talk with your peers

Communicate with residents

Procure a RAD PCA

Refine your proposal

Compile your development team

Amend your Annual Plan

Current Closing Projections

May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14Dec-14 Jan-15 Feb-15Mar-15Apr-15May-15 Jun-15 Jul-15 Aug-15 Sep-150

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

3,3595,395

15,000

36,000

Current & Projected

Program Improvements

LIHTC Fast Tracking

Fast Track checklist and instructions just posted on RAD Resource Desk

Streamlined submission requirements

Compresses milestones to one deadline 60 days after award/approval

Ability to extend the 60 day deadline as requested by PHA

Risk-based processing – accounts for extensive review of lender/investor

Focuses HUD review on areas where we add value

Helps PHA & development team meet LIHTC time frames

FHA/RAD Fast Tracking

5 FHA closings to date; several in processing

Centralized processingContract support for Section 223(f)/RAD underwriting

Special centralized team in Chicago for Section 221(d)(4)s

Streamlined approval processesOne approval committee replaces RAD/FHA loan committees

Waivers of PCAs and most market studies for Section 221(d)(4)s

Updated Guidance

Relocation NoticeClarifies process for resident relocation in RAD conversions

Demystifies program requirements to shorten approval process

Closing DocumentsClarifying lender rights and responsibilities in event of foreclosure

Clarifying HAP contract language with regard to future changes in policy

Conversion GuidesWritten protocols on PBRA and PBV conversion

Public Housing close-out guide

Updated Guidance, Continued…

Energy EfficiencyNew guidance on Utility Baselines (requirement of PCAs) – may be provided after closing

FAQ document on EPCs forthcoming – will address treatment of EPCs for RAD projects

2014 Rent LevelsFY14 Rents just posted on RAD Resource Desk

FAQsNew FAQs on Resource Desk on key topics - utility allowances, rehab assistance payments, and

removing units from PIC.

Latest Management Changes within HUD

OAHP

Asset Management

For More Information:

RAD Notice, application materials, and additional resources can be found at www.hud.gov/rad

Email questions to rad@hud.gov

Rad Resource Deskwww.radresource.net

RAD Capital Marketplace www.radcapitalmarketplace.com

Or, Get In Touch With Me:

Jerry R. Andersonjerry.anderson@gillgroup.com

(303) 805-06780(303) 810-4579 Cell

Thank You!