No new project-based Section 8 HAP contracts may be executed by HUD with the exception of which program?

The RAD PBRA program (Rental Assistance Demonstration Project-Based Rental Assistance) is an exception to the general rule that prohibits the execution of new project-based Section 8 Housing Assistance Payment (HAP) contracts by HUD. This program allows public housing agencies to convert public housing units to long-term project-based rental assistance contracts, thereby facilitating modernization and preserving affordable housing.

The RAD program is designed to enhance the ability of public housing authorities to leverage private funding for improvements while ensuring that tenants continue to receive rental assistance. This approach is critical in addressing the need for quality housing in communities and offers a pathway for maintaining affordable housing stock.

In contrast, the traditional Section 8 program, multifamily program, and public housing program do not have the same provisions for new project-based contracts, as they are generally limited or do not allow for the execution of new HAP contracts due to budget constraints and policy shifts within HUD. The RAD PBRA program, therefore, stands out as a vital component in HUD’s efforts to adapt and preserve affordable housing through innovative financing solutions.