19D - AFFORDABLE HOUSING RFP - Laserfiche WebLink

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Eligible Uses and Activities Funds can be used to make loans to eligible borrowers to provide affordable housing, for low- and very low- income households, including, but not limited to, the following: • acquisition and rehabilitation of eligible rental properties; • acquisition and conversion of non-residential property to multifamily rental housing units; • new construction of rental housing units; and, • predevelopment loans up to a period of 24 months for site acquisition, predevelopment activities, including professional services which cannot be obtained on a contingency basis, and construction. Such loans may be extended for up to 18 months with an additional 12 month extension option at the discretion of the Housing Division Manager. For more information, please see Santa Ana Municipal Code Section 41*1900. r V. HOME INVESTMENT PARTNERSHIPS PROGRAM Source of Funds Funding for this Program is provided through the U.S.,Department of Housing and Urban Development (HUD) HOME Program (including program income and residual. receipts), and therefohe is subject to the federal rules and regulations found in 24 CFR Part 92, as amended from time to time. Eligible Borrowers/Grantees Eligible borrowers are nonprofit Housing Development Corporations (HDC's) duly organized to promote and undertake community development activities on a'not-for-profit basis, and which have a valid 501(c)(3) or (4) designation from the IRS, or for-profit housing developers or development corporations, with proven capacities to develop, own, and operate affordable housing: Limited partnerships whose general partners are otherwise eligible under the above are also eligible to borrow Program funds. Eligible Projects Projects eligible for HOME funding shall: 1) be rental projects located in the City of Santa Ana; 2) contribute to the achievement of,the City's Strategic Plan and fair housing goals; 3) involve 4 or more`apartments:which will be rented, to eligible lower income households at rents that do not exceed rents as defined'by 24 CFR 92.252, as amended from time to time. Projects serving persons with special needs, or'where the City Manager finds that the project will provide a substantial public benefit, may have,fewer than four units. Transitional or permanent supportive housing may be provided (but not temporary shelters). 4) have at least 20% of the HOME -assisted units rented to very low-income families (50% of median income) under the,, terms and conditions set forth in 24 CFR 92.252 (2)(b); 5) demonstrate financial feasibility -- including the ability to maintain rents for the subsidized units at affordable levels for.the periods specified in 24 CFR 92.252; 6) be free of significant adverse environmental impacts, except those that can be mitigated through the project itself; 7) minimize tenant displacement; 8) comply with all local building and zoning codes and standards, including energy efficiency and water conservation standards, and meet housing quality standards in Section 882.109 of Title 24. Newly constructed housing must meet the current edition Model Energy Code of the Council of American Building Officials; 9) make efficient use of public funds and avoid "layering" of subsidies beyond those necessary to achieve a financially feasible project; and, 10) have at least 51 % of the project space be residential, if in a mixed use project. City of Santa Ana Community Development Agency Request for Proposals for Affordable Housing Development Pa a 17 19 -21