HUD Rental Assistance Demonstration (RAD) Program awards are making it possible for the GRHC to convert 300 agency-owned housing units from the Low-Income Public Housing Program to Section 8 Project-Based Program housing. Conversion provides 20-year contracts that are compatible with the federal Low-Income Housing Tax Credit (LIHTC) Program, making it possible for the GRHC to attract the funding that will enable us to undertake much-needed capital improvement projects.
The conversion of 92 units at Campau Commons Apartments was finalized in late May, with $100,000 in improvements slated to be completed by year end, including parking lot repaving, concrete repairs and energy conservation enhancements.
Twenty Scattered Sites units are currently moving through the conversion process, with required environmental assessments underway; we anticipate that conversion will be finalized this fall.The GRHC continues to seek the funding needed to convert 188 units at Adams Park Apartments under the RAD Program. Applications for a total of $3.4 million in LIHTC have been submitted to fund the following projects at the development, which serves disabled adults and seniors ages 62 and older:
Improvements will get underway when the necessary funding is in place.
No planned improvements will require displacing residents from their homes.
Mortgage loan financing is making it possible for the GRHC to make numerous much-needed upgrades at Leonard Terrace Apartments and Mount Mercy Apartments in the year ahead. Parking lot improvements at Leonard Terrace have been completed, and the parking lot at Mount Mercy will be resurfaced within the next few weeks. Additional improvements will begin later this summer.Leonard Terrace will receive $1.56 million in improvements. including:
We anticipate that Mount Mercy improvements will be completed during winter 2018 and Leonard Terrace improvements will be completed in spring 2018; no planned improvements will require displacing residents from their homes.