The Department of Housing and Urban Development (HUD) is implementing a new Fast Track component to its Rental Assistance Demonstration program (better known by its catchy acronym: RAD), which provides access to viable financing tools for at risk public and assisted housing. RAD Fast Track aims to address the overwhelming popularity of the RAD program by streamlining the process. HUD estimates that roughly 10,000 public housing units are lost to deterioration annually, while the need for affordable housing for low-income renters continues to skyrocket. The RAD programis a central part of HUD’s efforts to close this gap by preserving the country’s affordable rental housing, while at the same time adding value to it through privately-funded energy efficiency improvements.
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