Morgage says RAD program shifted Riverstone's landlord to private developer
Morgage explains that under NYCHA management, Riverstone had no rent as a mandated service. Under RAD, the landlord is now a private developer, Pact Renaissance Corporation. She says the relationship has been contentious and nonprofit providers are an afterthought.
But under the RAD program,
things have shifted dramatically.
So our issue is slightly different than what has been described because our landlord is not NYCHA, but a private developer.
So our written testimony that will be submitted later today will provide a lot more detail, but I want to emphasize four things today.
First, we understand that
RAD is intended to benefit the residents.
The nonprofit service providers are clearly an afterthought.
I suspect many are individually, many other older adult centers or nonprofit service providers in RAD buildings
are individually encountering similar challenges as Riverstone is.
Item two, our relationship with our for-profit developer, Pact Renaissance Corporation, or PRC, has been contentious for many reasons.