Abstract
This article provides an overview of the Rental Assistance Demonstration (RAD) program in the United States and examines its early implementation from its start in 2013 through April 6, 2016. RAD was devised to address the physical deterioration of public housing and secure a more stable funding stream. It requires public housing authorities to shift properties out of the public housing program into a different subsidy program (project-based Section 8) which enables them to obtain mortgages on more favorable terms and to secure tax-credit investment. The program is currently limited to 185,000 housing units. As of April 6th, the program was fully subscribed, and had generated more than $2 billion in new investment. Extrapolating from the early results, RAD has the potential to yield more than $15 billion for fund the redevelopment and renovation of public housing.
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