4:30-5:30 p.m

78-F. RAD for PRAC in Senior Housing: Are You Ready to Convert?

In 2019, the U.S. Department of Housing and Urban Development (HUD) updated the Rental Assistance Demonstration (RAD) program so providers could convert HUD 202 Project Rental Assistance Contracts (PRAC) into 20-year Section 8 contracts. These conversions enable RAD participants to secure new financing, maintain surplus cash flow, and receive higher rents in exchange for providing additional supportive services. This session will offer an overview of the RAD for PRAC program, explain why Section 202 housing providers might want to participate, and outline the program's rent-setting rules. Presenters will identify the program's advantages and disadvantages, suggest refinements to address program challenges, and lay out the steps you can follow to determine if your property should participate.

• Gates Kellett, Managing Principal, Gates Development Group, LLC — Atlanta, GA, USA
• Jim Pieffer, CEO/President, Presbyterian SeniorCare Network — Oakmont, PA, USA