Ann Arbor Housing Commission Eyes Major Transition Using HUD’s RAD Program

Changes are underway that could be transformative for Ann Arbor’s public housing system, taking advantage of a new federal program that might result in private financing for capital improvements in aging housing stock.  The AAHC has applied for a new program offered by the HUD. The rental assistance demonstration program, known as RAD, is a mechanism to convert public housing units into public/private developments that in turn provide rental assistance through long-term Section 8 subsidy vouchers that are tied to those developments. The arrangement would give AAHC access to private financing to renovate the current public housing properties, using tax credit financing, loans, equity or grants that are not otherwise available to the housing commission.

Ann Arbor Chronicle

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