The nation's public housing stock has nearly $30 billion in unmet capital needs, and with support from HUD dwindling, it's incumbent upon local housing authorities to address these needs. The problem is, the vast majority of public housing authorities are too small to carry the kind of debt required to borrow money to make upgrades to roofs, windows, appliances, bathrooms and more. HUD's Rental Assistance Demonstration (RAD) program allows PHAs to partner with an investor, transferring ownership to the investor for the duration of the loan finance period, while keeping the stewardship and management of the housing public. However, this temporary, long-term privatization capital strategy, while perhaps necessary, requires an investor that shares the mission of supplying safe, decent, affordable public housing. Attendees will learn how to understand their capital needs and to find lending partners who embrace affordable, public homes.
Workshop Session II