Rental Assistance Demonstration (RAD)
RAD in Fort Worth!
FWHA is breaking ground with a bold, new initiative that will improve the quality of life for over one thousand Fort Worth citizens currently living in Public Housing. By applying to participate in a new HUD pilot program, known as RAD, FWHA is working with public/private partnerships to help redevelop aging public housing units throughout the city.
RAD Program Overview
The RAD, or Rental Assistance Demonstration Program, is a new program initiated by HUD, to address the underfunded capital needs of Public Housing apartments across the country. Under RAD, Housing Authorities are able to raise substantial amounts of capital to rehabilitate or redevelop deteriorating public housing developments. The RAD program operates by converting public housing subsidies into Section 8 contracts that are attached to the developments. These contracts can be leveraged against private debt sources to raise the necessary funds for significant rehabilitation or renovation projects.
What are the benefits of RAD conversion to the Resident?
The switch from public housing to the RAD Section 8 Project-Based subsidy program will allow FWHA to tap resources that are not allowable in traditional public housing. RAD will allow FWHA to seek private funding options that will assist in the renovation of its properties, some of which have been in long disrepair, keeping them viable and most importantly affordable. Residents benefit from upgraded and in some cases, new homes while still paying only approximately 30% of their income towards rent.
What are the benefits of RAD conversion to the City of Fort Worth?
• RAD is a critical opportunity to revitalize and/or redevelop 1002 aging Public Housing Units.
• RAD will provide FWHA with the means to de-concentrate our public housing developments into more vibrant, mixed income and mixed use neighborhoods.
FWHA Existing RAD Development Sites:
• Fair Oaks Apartments
• Fair Park Apartments
• Hunter Plaza Apartments
• Butler Place Apartments
• Cavile Place Apartments
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