FULL PACKET_2015-05-19 - Laserfiche WebLink

Home Browse Search

• For acquisition /rehabilitation projects the City will require that the developer hire a professional relocation firm to develop and implement a relocation plan. The selected firm must be acceptable to the City. • Unless it will be rent and income restricted, HOME funds cannot be used to pay for the development of a resident manager's unit. • Under the newly revised HOME Program final rule, the City may not enter into a written agreement that commits HOME funds until all other required funding has been secured by means of a firm commitment, a budget and production schedule has been established, and X''ting completed. In order to facilitate this process, the City will require the selected developer tevidence of firm commitment for any additional funds required by the project within 30 days of ion by staff. If the selected developer cannot providethefinancingcommitments ,theirpropo ed. • The City must commit approximately half of its is imperative that proposed projects be read available. Proposed development schedules Under the newly revised HOME Program final r paid staff whose experience qualifies them to and must be in sole charge of a is of the de construction. CHDO rental proje ed" by a roles and their requirements ( "o nsoi which is available on HUD's website np these three roles they -will Dlay. and ho ev mee The newly be incorpc proposed 1 HOME fun Xne , 2014. As a consequence it forward anrequired funding be readily t this deadli V iing to be ce as CHDOs must have vities. To act aTWE veloper," a CHDO process, including JWgn, financing and be owned by the CHDO. Two other CHDO Lbed in Section 92.300 of the revised rule ding as CHDOs must identify which of !d pro gress - related deadlines that will st be incorporated into the project's a year of the commitment of HOME funds occupied by income - eligible tenants within 18 months within four years of the commitment of HOME funds Through the Housing Opp y Or e, the City of Santa Ana has established the Inclusionary Housing Fund for the specific purpose of assists velopment of affordable housing within the city. The residential units created through the Inclusionary Housin shall be affordable to Low and Moderate Income households and in alignment with the goals set forth in the City's General Plan, Housing Element and the City's Five -Year Strategic Plan. Through this RFP, the City has $1,875,000 available in funding from the Inclusionary Housing Fund. Please use the attached application (Exhibit B) to apply. Final funding recommendations may include conditions that have to be met prior to releasing funds. Examples of such conditions include: promissory note, recording a deed of trust securing the funds, securing other financial commitments and revenues, obtaining final development review approval, finalizing projected rehabilitation costs, or finalizing property management plan. City of Santa Ana Community Development Agency Request for Proposals for Affordable Housing Development 19119