RAD - Rental Assistance Demonstration
The Rental Assistance Demonstration (RAD), authorized by Congress in 2012, is a pilot program that will allow public housing authorities to convert their public housing properties to long term Section 8 Rental Assistance contracts. The program seeks to build on a proven Section 8 multifamily platform that leverages limited public resources with private debt and equity to open financial sources for capital improvements that have been traditionally off-limits to public housing authorities.
Brick Housing Authority has applied for the conversion of three (3) of its public housing communities in Brick, New Jersey, and has accepted its CHAP award and closed on all three (3) communities in November of 2016. These communities included George Conway, David Fried and Forge Pond a total of 266 units. As a result of RAD conversion, The Brick Housing Authority adopted Project Based Vouchers.