The Housing Authority of the City of Camden (HACC) is working with a private multi-family developer to demolish and redevelop a 72-unit multi-family low-income housing site. The Authority contracted with 2RW to conduct a RAD capital needs assessment (CNA) using HUD’s eTool to provide them with the initial and annual replacement reserves required to cover future building repairs and component replacement.
2RW held a project alignment meeting at the project’s initiation to ensure that 2RW’s processes and understanding of the scope of work were aligned with the RAD financial plan.
The firm then conducted an analysis of existing site and building conditions which included:
The site and building component data and all other relevant RAD project information were entered into the most current version of HUD’s CNA eTool (using version 1.2 v7, published in July 2018).
Using RAD program guidelines and the 20-year capital needs schedule developed through a CNA eTool analysis, 2RW provided recommendations for the initial and annual deposit to balance the R4R account in alignment with the financial plan and future operations of the development. The CNA eTool file, R4R recommendations, and supporting documentation were included in the project’s financial plan submission to HUD.
OWNER: Housing Authority of the City of Camden (HACC)
SIZE: 72 Units