In a memorandum emailed to all HAs and dated May 12, 2026, HUD announced that it is “winding down” the Restore-Rebuild initiative. The key points of the memo, effective immediately, are:
- No new requests for a Notice of Anticipated RAD Rents (NARR) will be accepted.
- Already submitted NARR requests that are pending HUD action will continue to be processed.
- Agencies that have already received a NARR have 90 days from the memorandum date to demonstrate one of the following:
- Submitted a substantially complete mixed-finance development or public housing acquisition proposal to HUD for the proposed project; or,
- Received HUD approval for a mixed-finance development or public housing acquisition;
- Can document from a state allocating agency that an application for Low-Income Housing Tax Credits for the proposed project has been submitted and is under review or has been approved.
PHADA is disappointed with this action by HUD, as the severe shortage of affordable housing argues for increasing the number of available units. Restore-Rebuild was one of the few avenues available to do so. PHADA will urge HUD to extend the 90-day timeframe for
projects that have received a NARR and include LIHTC financing in their proposed project.