RAD Property Condition Assessment (RPCA)
HUD’s Rental Demonstration Assistance (RAD) program allows projects funded under the public housing and Mod Rehab program to convert their assistance to long-term, project-based Section 8 rental assistance contracts.
Before a project converts to project-based assistance, HUD wants to be sure that the project can address all physical needs now and for the 20 years after conversion from public housing to project-based Section 8. The RAD Property Condition Assessment (RPCA) therefore drives the project scope of work, the development budget, and the initial and annual deposits to replacement reserves. The RPCA will estimate needs for the property. It will report critical repairs, immediate repair and rehab items (generally, any item that has exceeded its useful life), and market comparable and/or owner-initiated upgrades.
HUD recommends that PHAs plan to contract with the selected RPCA Contractor as soon as possible in order to have the RPCA in hand within 90 days after award. This timeframe will allow sufficient time to review the results and then make any changes either in the RPCA or the financing plan. The PHA will not be able to obtain financing or prepare the Financing Plan until the RPCA is finalized.
The RPCA includes three parts. Nova is a qualified contractor to provide these services.
Property Condition AssessmentIdentifies repairs necessary in the first year following restructuring and the repairs and replacements during the next 20 years; it only offers “traditional” and “green” components that meet local building code; it estimates costs using both “traditional” and “green” principles; and it provides comments on the benefits (financial and otherwise) of the green alternative.
Learn more about Nova’s Property Condition Assessment services.
Energy AuditEvaluates how energy and water is used at the property. It documents utility-related improvements (water and energy) to the property, the cost of the improvements, and a simple financial payback analysis. It includes an initial assessment of potentially viable alternatives for generating electricity, heating water, and heating and cooling the conditioned space at the building.
Learn more about Nova’s Energy Audit services.
Utility Consumption BaselineContains data on all utility usage at the property, both tenant-paid and owner-paid, and including all common areas for a full 12-month period. This component establishes a baseline; a standard on which future consumption can be compared.
Learn more about Nova’s Benchmarking services.
Contact our Strategic Energy Group to learn more.
Find out more information from HUD on their website.