News related to "prac"

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HUD Issues Updated Rent Increase Guidance for PRAC Owners

On March 25, 2020 by Bobbie Guidry

As of March 18, HUD has restarted routine processing and approval of Section 202 PRAC rent adjustments to increase Reserve for Replacement deposits. There have been several updates to field office procedures for reviewing Capital Needs Assessments (CNAs) and determining how capital needs should be reflected in annual PRAC project operating rents.   

New Video Resource: PRACtical RAD Overview

On February 18, 2020 by Bobbie Guidry

The U.S. Housing & Urban Development Department (HUD) has released the first of a series of short videos on RAD for PRAC.  

Free HUD 202 Webinar: RAD for PRAC - What 202 Owners Need to Know

On October 1, 2019 by Bobbie Guidry

Need an overview of the new RAD for PRAC authority and what it means for the preservation of 202/PRAC communities? Participate in free, members-only webinar on Wednesday, Oct. 16 at 3 p.m.  

Section 202/PRACs Can Now Leverage Private Capitol to Preserve Affordable Housing

On September 10, 2019 by Bobbie Guidry

Effective immediately, HUD providers of Section 202 Housing for the Elderly with Project Rental Assistance Contracts (202/PRACs) can begin to leverage private capital to preserve their affordable housing over the long-term.  

Affordable Housing: 202 PRAC Reserve Levels Frozen, FY19 Renewals Very Tight

On July 30, 2019 by Bobbie Guidry

LeadingAge has been informed by HUD officials that 202 PRAC funding availability is very tight right now and will remain so for the remainder of FY19.  

Capital Needs Assessment e-Tool Requirement for PRACs Suspended

On August 14, 2018 by Bobbie Guidry

The U.S.  Housing & Urban Development Department (HUD) has suspended use of the CNA e-Tool for PRAC budgeting purposes. Until further notice, PRAC projects needing to submit a rent increase should follow previous guidance in HUD Handbook 4350.1, Chapter 7: Processing Budgeted Rent Increases. 

New Construction and Home Modification Funding in Senate Bill

On June 12, 2018 by Bobbie Guidry

The Senate Appropriations Committee approved $44.5 billion for HUD in fiscal year 2019, including $678 million for the Section 202 Housing for the Elderly account and $11.7 billion for Project-Based Rental Assistance that provides the operating subsidy for approximately two-thirds of Section 202 homes. 

Now Available: Capital Needs Assessment e-Tool Training for PRAC Providers

On February 27, 2018 by Bobbie Guidry

A new webinar from the U.S. Housing & Urban Development Department (HUD) will help Project Rental Assistant Contract (PRAC) properties successfully complete the new, mandatory electronic format and online submission for the Comprehensive Needs Assessment.  

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