What is the term for the contracts that provide rental assistance to PHAs under the RAD program?

Housing Assistance Payments (HAP) contracts are the correct term for the agreements that provide rental assistance to Public Housing Authorities (PHAs) under the Rental Assistance Demonstration (RAD) program. HAP contracts are pivotal in ensuring that eligible low-income tenants have access to affordable housing by covering the difference between the tenant's contribution and the total rent amount.

These contracts are central to the RAD program because they allow for the conversion of public housing to project-based assistance, effectively ensuring that the properties continue to receive federal funding. Under such arrangements, the subsidy is attached to the property, helping to maintain affordability while also allowing PHAs to leverage public and private financing for necessary renovations and improvements.

The other options are related to rental assistance but do not specifically pertain to the RAD program context. Project-Based Vouchers (PBVs) and Section 8 Contracts (SEC8) refer to specific types of assistance under broader housing programs and are not exclusively linked to the RAD initiative. Long-term Contracts are not a standard term recognized in affordable housing contexts in relation to RAD either.