To stem the loss of critically needed public and other forms of subsidized housing as a result of the severe backlog of capital needs, on January 10, 2013, HUD officially launched its Rental Assistance Demonstration (RAD), the Obama Administrations groundbreaking strategy to preserve tens of thousands of public and HUD-assisted housing units. In the near term, RAD is expected to preserve and enhance more than 13,000 units of affordable housing and generate more than $650 million in private capital to address the estimated $26 billion backlog in capital needs faced by public housing authorities in the U.S. This additional capital will also stimulate employment in the construction trades across the country.
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