Glossary of CPD Terms - R

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Reconstruction (also Rehabilitation)
The stage at which all necessary title transfer requirements and construction work have been performed; the project complies with all HOME requirements; the final draw-down has been disbursed for the project; and the project completion information has been entered in the Integrated Disbursement and Information System (IDIS) established by HUD. For tenant-based rental assistance (TBRA), project completion means the final draw-down has been disbursed for the project.

Rehabilitation
means the labor, materials, tools, and other costs of improving buildings, other than minor or routine repairs. The term includes where the use of a building is changed to an emergency shelter and the cost of this change and any rehabilitation costs does not exceed 75 percent of the value of the building before the change in use.

Renewal Communities
The Omnibus Consolidation & Emergency Supplemental Appropriations Act for FY 2001 (P.L. 106-554), signed into law on December 21, 2000, enacted the provisions of a number of bills of the 106th Congress. Among them was the Community Renewal Tax Relief Act of 2000 (CRTR Act), which authorizes the designation of 40 Renewal Communities (RCs - 28 urban and 12 rural).
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Renewable energy
means a non-depletable source of energy.

Renewable energy measure
means any capital investment that reduces energy costs in an amount sufficient to recover the total cost of purchasing and installing such measure over an appropriate period of time and that results in the use of renewable energy to replace the use of non-renewable energy.

Renovation
means rehabilitation that involves costs of 75 percent or less of the value of the building before rehabilitation.

Residential building
means any building which is constructed for residential occupancy.

Revitalization of Severely Distressed Public Housing (HOPE VI)
Through the HOPE VI program, HUD provides grants to eligible applicants for the demolition, construction, and rehabilitation of public housing; development of replacement housing; and community and supportive services that pro-vide public housing residents with resources to support their progress toward sufficiency. The HOPE VI program encourages PHAs to seek new partnerships with private entities to create mixed-finance and mixed-income affordable housing that is a departure from traditional public housing.
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Revolving fund
means a separate fund (with a set of accounts that are independent of other program accounts) established for the purpose of carrying out specific activities which, in turn, generate payments to the fund for use in carrying out the same activities.
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