Public Housing Updates: NYCHA PACT & Statewide Trends
2:30 PM - 3:20 PM Wed
Tom Davis is the Director of the Office of Recapitalization, within HUD’s Office of Multifamily Housing Programs. The Office of Recapitalization oversees the Rental Assistance Demonstration (RAD) program, the Green and Resilient Retrofit Program (GRRP), the Mark to Market (M2M) program, the Post-Mark to Market program (PM2M), the Senior Preservation Rental Assistance Contracts (SPRAC) program, and other housing development and preservation programs. The two largest programs in the Office of Recapitalization portfolio are the RAD program and the newly created GRRP. The GRRP was enacted in mid-2022 and provides funding for investments in existing multifamily properties (such as PBRA, Section 202, and Section 811 properties) to promote energy efficiency and to assist the properties withstand extreme weather hazards and other climate impacts. The Office of Recapitalization is currently designing the implementation of this program. The RAD program is a demonstration of how a change in a property’s regulatory platform can open the door to recapitalization or preservation of at-risk affordable housing properties. The focus of the demonstration is on conversions of public housing properties and of at-risk multifamily housing properties (currently properties associated with the Rent Supp, RAP, Mod Rehab, McKinney Vento Mod Rehab SRO, Section 202 PRAC, and Section 811 PRAC properties). The budget neutral RAD public housing conversions have stimulated capital investment of over $14 billion in the public housing portfolio. In 2017, Tom and the RAD Team were selected as a finalist for the prestigious Samuel J. Heyman Service to America Medals (“Sammies”) in the Management Excellence category. Tom joined HUD in 2015.
Prior to joining HUD, Tom worked as an attorney at Morrison & Foerster, specializing in affordable housing, LIHTC, real estate and environmental issues. He subsequently joined the Office of General Counsel at The Community Builders, Inc., a multi-state non-profit affordable housing owner and developer. At The Community Builders, Tom broadened his expertise and shifted into a project management role. He managed large multi-phase HOPE VI neighborhood revitalization efforts and spearheaded a strategic redesign of The Community Builders’ resident services and economic development programs to focus on financial counseling, asset building, employment, and youth. On leaving The Community Builders, Tom joined Preservation of Affordable Housing, Inc. (POAH), another multi-state non-profit developer and owner. At POAH, Tom built the organization’s asset management systems to appropriately steward a multi-jurisdiction real estate portfolio including federally assisted, tax credit and market-rate units, supervised implementation of green retrofits, utility data system and energy initiatives, and designed resident service efforts focused on health services and financial counseling. Most immediately before joining HUD, Tom was Senior Vice President of Recap Real Estate Advisors, a Boston-based affordable housing consulting firm, where he led the firm’s affordable housing consulting practice and focused on the recapitalization and preservation of existing affordable housing, particularly state and federal public housing. Tom received his undergraduate degree from Brown University, his Master’s in Public Affairs from Princeton University’s School of Public and International Affairs and his JD from the New York University School of Law.