Senate Bill Includes RAD for PRAC Eligibility, Funding

May 25, 2016 LeadingAge DC Executive Director

After months of advocacy by LeadingAge members, the Senate HUD appropriations committee has included eligibility for HUD’s Rental Assistance Demonstration to include Project Rental Assistance Contracts (PRACs) and provided $4 million to assist in these conversions in its fiscal year 2017 bill. This is great news and the first step in what will be a long fiscal year 2017 appropriations season. There are 2,900 Section 202 communities with PRACs; many of them could decide that participating in RAD will help them preserve their affordable properties. For more information about the bill, go here.