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The "Office of Recap" is responsible for the preservation and recapitalization of federally assisted affordable housing and oversees and processes financial transactions to ensure the long-term physical and financial viability of affordable rental housing. In conducting the business of preservation of affordable housing, Recap is also responsible for ensuring compliance with relevant laws and statutes.
Recap has evolved over the years. It was originally, the "Office of Multifamily Housing Assistance Restructuring" (OMHAR), established in 1997, to administer the Mark-to-Market program under Multifamily Assisted Housing Reform and Affordability Act of 1997 (MAHRA). It then expanded as result of the growing need for preserving affordable housing and became the Office of Affordable Housing Preservation (OAHP) in 2004 until it's transition into the Office of Recapitalization under the Office of Multifamily.
Currently, the following programs are administered by the Office of Recap to preserve and recapitalize affordable housing:
Mark-to-Market
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Rental Assistance Demonstration (RAD)This program allows proven financing tools to be applied to at-risk public and assisted housing. RAD is a central part of the Department's rental housing preservation strategy, which works to preserve the nation's stock of deeply affordable rental housing, promote efficiency within and among HUD programs, and build strong, stable communities. RAD provides service for Public Housing, Rent Supp, RAP, Mod Rehab, Mod Rehab SRO, and PRAC properties. For more information visit the RAD web page. |
Section 236 Preservation
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Pre-1974 Section 202
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RAD
- The 30-Day Notice of the Paperwork Reduction Act (PRA) for RAD has been published. HUD is requesting comments from all interested parties on the proposed collection of information. The public comments are due June 18, 2021, which is 30 days after the date of publication in the Federal Register. For more information, including the list of documents in this collection visit our RAD PRA and Supporting Contracts web page. (5/19/2021)
- HUD has produced guidance PHAs and their partners can use to understand the new Faircloth to RAD process and make the appropriate submissions to HUD. That guidance is located here and our fact sheet on Faircloth to RAD is located here.(4/8/2021)
- The list of Closed Transactions under 2nd Component and the Potential RAD Mod Rehab Projects has been updated. Visit our RAD for Mod Rehab, Rent Supp and RAP web page for more details. (3/3/2021) Note: Use Microsoft Edge or Internet Explorer to View/Open the Excel File
Mark-to-Market
- The M2M Transactions Report has been updated and available in PDF and Excel). This report provides a list of all the properties in the Mark-to-Market portfolio, it's ownership information and the last milestone of the property's program in the program. For more information on the M2M program visit our web page. (04/23/2021) Note: Use Microsoft Edge or Internet Explorer to View/Open the Excel File
- Want to know more on the Office of Recap and Pre-1974 Section 202 Loan Preservation? Read the brochure, “Key Concepts for Preservation of Pre-1974 Section 202 Direct Loan Properties,” which assist owners with understanding the preservation options. For additional information visit our web page.
- All inquiries and requests related to Post Mark-to-Market (Assumption Subordination and Qualified Non Profit) transactions should be submitted electronically to PostM2M@hud.gov.
- For RAD Public Housing email rad@hud.gov.
- For RAD Multifamily Housing email rad2@hud.gov.
- For Section 236 Preservation email 236Preservation@hud.gov.
- For Pre 1974 Section 202 Direct Loan Preservation email Pre1974Section202@hud.gov.
- For Mark-to-Market email m2minfo@hud.gov.
- Post Mark-to-Market email PostM2M@hud.gov.
- The Office of Recapitalization Staff Directory is also available.