Rental Assistance Demonstration (RAD)

* Address preservation problems

* Access private debt and equity (Unable to due to Public Housing Declaration of Trust)

* Section 8 contract helps leverage private capital to preserve and redevelop assets (RAD/CNI)

* Allows for mixed-income communities

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Morreene Road – December 2012

 * TDC $17 million (LIHTCs, Bonds, Capital Funds, loan)

* $8.7 million rehab
   – Mechanical
   – Electrical
   – Roofing
   – Flooring
   – Windows
   – Site Improvements
   – Appliances
   – Cabinets
   – Etc.

Damar Court – July 2013

* TDC $12 million (LIHTCs, Bonds, Capital Funds, loan)

* $4 million rehab
   – Mechanical 
   – Electrical
   – Roofing
   – Flooring
   – Windows
   – Site Improvements
   – Appliances
   – Cabinets
   – Etc.