Affordable Housing Blog
Share Print View
Done deals! First three RAD Component 2 preservation deals using 20-Year Section 8 PBRA contracts close
A team of Nixon Peabody affordable housing attorneys collaborated with clients and HUD's Office of Recapitalization to close the first three RAD Component 2 preservation deals using 20-year Section 8 Project Based Rental Assistance (PBRA) contracts. All three transactions are located in New York State.
PBRA contracts were executed on December 30, 2015, after HUD was able to coordinate the funding of the contracts with the Office of Management and Budget and Treasury. The New York State Housing Finance Agency funded two of the transactions, which involved properties serving elderly residents. New York City's Housing Development Corporation funded the other transaction located in the Bronx.
Congress authorized the PBRA subsidy as an alternative to project based vouchers for RAD Component 2 transactions in the fiscal year 2015 Omnibus Appropriations legislation.


There are no comments yet for this post.

Privacy Policy | Terms of Use and Conditions | Statement of Client Rights
This website contains attorney advertising. Prior results do not guarantee a similar outcome. © 2018 Nixon Peabody LLP
expand 1. HUD / RD

AFHS alerts
Elderly Housing -- Section 202
FHA Insurance and Risk Sharing
Preservation - HUD OAHP and Mark to Market
Section 8 Renewal Contracts
Utility Allowance
expand 2. Local & Regional

California and West Coast
Housing Production Trust Fund
New York and Northeast
expand 3. Energy Tax Credits

expand 4. Historic Rehabilitation Tax Credits

Historic Rehabilitation Tax Credits
expand 5. Low-Income Housing Tax Credits

expand 6. New Markets Tax Credits

New Markets Tax Credits
expand 7. Real Estate

expand 8. Specialty

Freddie Mac
LGBT Housing
Tax-exempt Entities
expand 9. Video