RAD Consulting Services
Tapestry Development Group is a HUD-designated RAD Network Partner and has developed a specialty in development consulting to Public Housing Authorities and developers interested in participating in the HUD Rental Assistance Demonstration (RAD) program. Tapestry has been involved with 33 successful RAD conversions totaling over 4,600 units, has provided technical assistance on thousands of units, and is currently working on 20 RAD transactions totaling over 3,000 units. Tapestry has or is currently working with 40 Public Housing Authorities in 12 states amounting to over 18,700 RAD units in 90 projects. Tapestry has been involved with several of the first public housing RAD conversions in the country. These transactions are using a variety of financing methods for preservation, including 9% LIHTCs, 4% LIHTC/tax-exempt bonds, FHA debt-only financing, HOME funds, and Public Housing Authority funds.

By offering an array of services to choose from, we provide our clients with cost efficient ways to maintain control and receive the exact level of expertise they need.

The scope of RAD consulting services that we offer includes:
  • Project structuring
  • Financial feasibility assessment
  • Comparative analysis of properties most suitable for RAD
  • RAD application preparation
  • Coordination of the post-Commitment to enter into a Housing Assistance Payment Contract (CHAP) milestone process
  • Development team coordination
  • Financing application coordination
  • Financing closing coordination
  • RAD conversion closing coordination

Tapestry assisted the Georgia Department of Community Affairs (DCA) to create the RAD Multi-Site Bond Program to match public housing authorities (PHAs) participating in the RAD program with a developer partner to collectively secure 4% LIHTCs and tax-exempt bonds to rehabilitate the PHA's properties. The program targeted small PHAs which could not otherwise secure financing on their own due to the small size of their portfolios. Tapestry helped DCA create the program and served as the facilitator of the PHAs’ decision-making process. It is hoped that the program will serve as a national model of an innovative approach to preserving smaller aging affordable housing properties. For more information, visit: http://www.dca.ga.gov/housing/HousingDevelopment/programs/RADmultisite.asp

The program was also highlighted in Affordable Housing Finance magazine:
http://www.housingfinance.com/policy-legislation/georgia-launches-rad-multi-site-bond-program_o

We have provided training and presentations about the RAD program to a variety of national stakeholder groups in the housing industry.  For more information about the RAD program, click here to read an article Tapestry provided in the Georgia Affordable Housing Coalition’s newsletter.

For more information on this service, please contact Richelle (Shelly) Patton at 404-997-6786 or via

 
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