19D - RFP - AFFORDABLE RENTAL HOUSING

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developer should indicate whether the cost estimates in the Sources and Uses budget assume the payment of Davis Bacon wages and relocation benefits, if applicable. The pro forma must include a calculation of the return on investment to the developer. This will enable the City to comply with the new HUD requirement that it evaluate the reasonableness of the "level of profit or return on owner's or developer's investment in a project." To date, HUD has provided no further guidance on the required evaluation. 3. Projected Rental Income. Include evidence that the rental income shown in the pro forma is reasonable and achievable. If proposing all rents to be at low-income, include a market study that supports that this is achievable. Section 3 and Section 504 Compliance. Describe the steps to be taken to comply with the federal requirement for maximum feasible participation of local low income residents and businesses in the development of federally funded projects. Describe how the project will be developed and operated so as to insure compliance with all relevant components of the Americans with Disabilities Act. Proposed Development Schedule. Taking as a starting point City Council approval of the proposed City loan, provide a proposed development schedule that includes the following milestones at a minimum: Site acquisition, additional required loan commitments and funding from all other funding sources, zoning change approvals if necessary, preparation and approval of construction plans, start of construction, completion of construction, and lease-up. The schedule must reflect the fact that under the new HOME Program regulation the City cannot commit HOME funds to the project until it has completed its own underwriting, until the developer has obtained firm commitment for all additional required funds, and until the City and the developer have signed a loan agreement. 6. Current Tenants. Provide a listing of all tenants currently residing in units. Exhibit B - Additional Insured Endorsement for Commercial General Liability Policy. Not required until after Developer selection. 8. Exhibit C - Proposer's Statement 9. Exhibit E - Certification of Nondiscrimination 10. Exhibit F - Non-Collusion Affidavit The proposal must be completely responsive to the RFP. Incomplete proposals will be deemed as nonresponsive and will be rejected. The City reserves the right to reject any or all proposals submitted and no representation is made hereby that any contract will be awarded pursuant to this RFP or otherwise. XIV. DEVELOPER SELECTION - PROPOSAL AND EVALUATION Immediately following the submission deadline, the Community Development Agency will create a review panel composed of City staff from relevant City departments. Each member of this panel will City of Santa Ana Community Development Agency Request for Proposals for Affordable Housing Development 19Pacl=? 1