Office of Recapitalization

The Office of Recapitalization (“Recap”) supports the preservation and recapitalization of federally-assisted housing and rental assistance for current and future generations. Recap structures, reviews, and implements transactions to ensure long-term physical and financial viability, often through public-private partnerships and the use of tax-incentivized financing. Recap also implements other affordable housing initiatives which leverage this transactional expertise. Programs or initiatives currently or recently implemented by Recap include the Rental Assistance Demonstration (RAD), the Green and Resilient Retrofit Program (GRRP), Mark-to-Market (M2M), Post Mark-to-Market (PM2M), Post Mark-to-Market Budget Based Rent Adjustments (BBRA), Section 236 Preservation, and Pre-1974 Section 202 Direct Loan Preservation (including SPRAC).

Programs and Initiatives

Rental Assistance Demonstration (RAD)

Green and Resilient Retrofit Program (GRRP)

Post Mark-to-Market (M2M)

Section 236 Preservation

Pre-1974 Section 202 Direct Loans Preservation

Budget Based Rent Adjustment for M2M (BBRA)

Faircloth to RAD

Resident Rights for RAD

Highlights

$279 Million in New Green and Resilient Retrofit Awards

New Green and Resilient Retrofit Program awards represent the largest dollar amount of GRRP grants and loans made under the program at one time to date.

Posted: 10/2/24

$69 Million in New Green and Resilient Retrofit Awards

We've awarded nearly $69 million in new Leading Edge grant and loan awards under the Green and Resilient Retrofit Program to support significant energy efficiency and climate resilience renovations in almost 2,000 homes at properties housing low-income individuals, families, and seniors.

Posted: 9/6/24

HUD Delivers Nearly $28 Million Transaction to Build and Preserve Affordable Housing for Illinois Seniors

With this transaction 98 homes will be available for seniors, in addition to new amenities and services, including a community room and an on-site leasing office allowing them to access support within reach.

Posted: 8/2/24

$19 Million in New Green and Resilient Retrofit Awards

New Green and Resilient Retrofit Program grants and loans will support significant energy efficiency and climate resilience renovations in more than 4,200 homes at properties housing low-income individuals, families, and seniors.Visit the GRRP web page for details.

Posted: 7/23/24

Have a question? Email us.

For the Office of Recapitalization Staff Directory visit our web page or email us at one of the programs below.

Green and Resilient Retrofit Program

RAD Public Housing

RAD Multifamily Housing

Mark-to-Market (M2M)

Post Mark-to-Market

Post M2M Budget Based Rent Adjustments (BBRA)

Section 236 Preservation

Pre 1974 Section 202 Direct Loan Preservation