CHA is committed to keeping the same operational rules, rent structure and tenant rights that are in place now. Residents should feel very little day-to-day impact in how CHA manages its properties.
As of November 1, residents signed a new lease, preserving current tenant rights and protections after the RAD conversion. CHA’s Admissions and Continued Occupancy Policy and Administrative Plan will also be retained and are being updated to reflect any needed adjustments under RAD conversion. In addition, CHA will have a RAD use agreement, long-term ground leases, deed restrictions and other recorded restrictions to ensure stability and to keep these properties affordable for generations to come.
On conversion, some properties will become tax-credit properties. When Low Income Housing Tax Credits (LIHTC) are used to finance major construction at a site, the property becomes subject to LIHTC rules, which include additional income certifications and inspections.