RAD transaction closes March 18; Housing Authority shifts role as properties transfer to Anaconda LIH Solutions LP

The Housing Authority of the City of Anaconda announced that its Rental Assistance Demonstration (RAD) transaction closed on March 18, 2026, transferring Mount Haggin Homes, Cedar Park Homes and P.J. Hagan Manor to Anaconda LIH Solutions LP, a limited partnership that includes the Housing Authority.

"The RAD deal closed on March 18, 2026," Secretary Kaitlin Leary told the board. She said the sale structure was required for the low-income housing tax credit financing and that the Authority will now focus on transitioning residents and administration to the new program. She added staff expect a Notice to Proceed to be issued to the general construction contractor the following week.

In explaining implications, Leary said the Authority faces two significant setbacks from the conversion: it may no longer retain its status as a Public Housing Authority with HUD, and it may no longer be able to overhouse households when a larger unit is available and sits vacant. "We are still a Housing Authority, but will no longer be a Public Housing Authority," Leary said. She noted that households already overhoused will be grandfathered unless they request or need a transfer, and that Good Housing Partnership is investigating avenues to restore the overhousing option.

The board did not take a separate vote on these programmatic matters at the meeting; minutes reflect the update and staff direction to proceed with implementation steps and coordination with the development partner. The next procedural step Leary cited was receipt of the contractor's Notice to Proceed and continued administrative work to transfer records and tenant files to the new accounts and program structure.