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Request for Proposals for Affordable Housing Development <br />July 2, 2019 <br />Page 2 <br />Division Quarterly Report. Inclusionary Housing Fund in -lieu fee pending payments and any other <br />funds that have not yet been received by the City are not considered available funds. <br />The current available funds for this RFP are as follows: <br />Inclusionary Housing Fund <br />$1,614,113 <br />HOME Investment Partnerships Program <br />$1,050,802 <br />(HOME) <br />HOME Investment Partnerships Program <br />Funds for Community Housing Development <br />$691,063 <br />Organizations (CHDOs) <br />Community Development Block Grant Program <br />$676,000 <br />(CDBG <br />Rental Rehabilitation Program <br />$381,551 <br />TOTAL <br />$4,212,528 <br />Available program funds may be used for affordable housing development loans for the following <br />eligible purposes: <br />(1) The purchase of existing multi -family or other buildings for rent or sale to very low- and <br />extremely low-income households and for the development of congregate housing for rent to <br />very low- and extremely low-income persons with special needs (e.g. homeless individuals <br />and families, elderly, persons with a disability). <br />(2) The purchase or lease of land and buildings for new construction or rehabilitation of housing <br />that may utilize available State and Federal housing _ assistance programs such as Low - <br />Income Housing Tax Credits, the Section 202 Supportive Housing for the Elderly Program, <br />tax-exempt bond financing, Section 811 Supportive Housing Program, and/or other available <br />State and Federal programs. <br />(3) The development of limited -equity housing cooperatives through either conversion or new <br />construction. <br />(4) The provision of interim loan funds for any of the above purposes prior to the funding of a <br />public or private loan. Eligible development costs for the above uses include, but are not <br />necessarily limited to: <br />a. site acquisition and preparation; <br />b. rehabilitation of dwelling units, common areas and related structures; <br />c. new construction; <br />d. carrying charges and financing fees; <br />e. architectural, legal, and organizational fees; <br />f. temporary or permanent tenant relocation costs. <br />The Rental Rehabilitation Program (RRP) grant is a soure of affordable housing funds that has not <br />been available in previous years. This source of affordable housing funds was authorized by <br />Congress on November 30, 1983 by Section 301 of the 1983 Housing and Urban -Rural Recovery <br />80A-2 <br />