Life After RAD Galveston, TX August, 2018 Holly Knight 202-699-1998 holly@bgcadvantage.com Life After RAD

What made you convert to RAD? What made you go PBV versus PBRA? LIFE AFTER RAD What made you convert to RAD? What are your projects? What made you go PBV versus PBRA? Have you had to restructure any at the office? Your 9% has a third party management company – how does that work for you?

LIFE AFTER RAD How do you get paid? Since you do not have capital funds and only receive HAP and Administrative Funds – how have your financials changed? Do you have the same employees and if so do they have the same jobs? What Policies have changed? (No ACOP, no occupancy report requests from HUD, Epic, LOOCS, etc.)Now just the two PBV two year tool What about REAC inspections? Headquarters inspections

LIFE AFTER RAD Was your conversion quick or did it take longer than you thought? Ballpark - About how much did the PHA only conversion costs? What about FHEO? Do you think there will be a large number of people wanting to leave their units after a year for choice mobility?

POLICIES BEFORE RAD – PH/HCV AFTER RAD – HCV or PBRA Public Housing Dwelling Lease ACOP HUD regulations DOT HCV Admin Plan AFTER RAD – HCV or PBRA PBV/PBRA (Dev LLC) Dwelling Lease PBV Landlord Policy/PBRA House Rules HAP contract RAD use agreement HCV Admin Plan – amend to include RAD PBV requirements

PROS AND CONS PROS CONS HUD regulations on one programs – HCV or PBRA Additional HCV AF OCAF (annual rent increase) Additional fees for COCC Eliminates CFP grant admin./Operating fund program Needs assessed over a 20-year period CONS Very Expensive (legal, consultants, training, surveys, PCA, environmental review, etc.) Adjustment for staff Very time consuming Funds may be delayed Not a lot of guidance available

RAD Regulatory Requirements RAD Notice Revision 3 RAD 2018-5 RAD Supplemental Notice PIH 2018-04 (RAD and Section 18) PBRA PBV FHEO Closeout-PIH 2016-23

PHA Effects PHA effects hand out Financing for Cost center Project cash flow Developer fee Admin fees Management