A Ballard Spahr legal alert prompted news coverage of Congressional authorization of a financing scheme that allows housing authorities to leverage private sector resources.

Attorneys Sharifa A. Anderson, Mary Grace Folwell, and Amy M. McClain authored the alert, which reported that the FY 2012 appropriations bill for Transportation, Housing and Urban Development included authorization for the Rental Assistance Demonstration.

Under RAD, up to 60,000 public housing or moderate rehabilitation program units may be converted to either (i) assistance under a project-based housing choice voucher contract under Section 8(o)(13) of the U.S. Housing Act of 1937, or (ii) a project-based subsidy contract eligible for renewal under Section 524 of the Multifamily Assisted Housing Reform and Affordability Act of 1997.

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