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HUD recently announced a nearly $1 billion Rental Assistance Demonstration (RAD) transaction with the New York City Housing Authority (NYCHA) that will enable major upgrades for more than 2,000 affordable rental units in the Bronx. This is the largest transaction to date under the RAD program. Through RAD, these homes will be converted to Project-Based Section 8 housing using a RAD/Section 18 Blend, a component of RAD that allows for higher levels of funding to directly support improvements to resident units.
