YAKIMA, Wash.-- Some big changes coming for the Yakima Housing Authority.
It's one of only 68 organizations nationwide chosen for a ground breaking new program designed to help better fund renovations to low income units.
The change is part of the U.S. Housing and Urban Development's new, Rental Assistance Demonstration Initiative, also called RAD.
In a nutshell, the program will allow the Yakima Housing Authority to take advantage of different funding sources, outside the federal government.
Now, they'll be able to access private dollars, primarily through investors and equity, to be able to do some much needed renovation and rehabilitation work to the 150 low income units across Yakima.
Things like heating and air conditioning, roofing, siding, and even interior work will now be able to be funded.
"And it isn't that we haven't maintained them well with the funds we've had. We've done pretty good on that. But, after a while things, no matter how well you maintain them just wear out. And that's what we're trying to take care of," said Lowel Krueger, executive director of the Yakima Housing Authority.
He says it'll cost $9-$10-million to do all the renovation work at their housing complexes, but he's hopeful they'll be able to secure that money from local banks, thanks to RAD.
He says construction will probably start this time, next year.