HomeMy WebLinkAboutPRESENTATION - #36Request for Proposals for
Affordable Housing Development
DECEMBER 7, 2021
COMMUNITY DEVELOPMENT AGENCY
AGENDA ITEM # 36
Background
In accordance with the City's Affordable Housing Funds
Policies and Procedures amended by City Council on August
18, 2020, the Community Development Agency, upon City
Council approval, will issue a Request for Proposals (RFP), for
available funds.
The available funds for this RFP includes funds available in
the Inclusionary Housing Fund, HOME Investment
Partnerships (HOME) Program, HOME -American Rescue Plan
(HOME -ARP) Program, Project -Based Voucher Program, and
Neighborhood Stabilization Program.
Available Funds
Inclusionary Housing Fund
$10,093,318
HOME Investment Partnerships
ProProgram(HOME)$3,161,226
g
HOME —American Rescue Plan
HOME —ARP)$5,256,327
Neighborhood Stabilization Program
$135,107
NSP )
Project -Based Vouchers
Twenty -Five (25)
$18,645,978 and 25 Project -
TOTAL
Based Vouchers
The RFP also includes a land asset currently held by the Housing
Authority at 302 E. Twenty -Second Street.
Priorities
1. Acquisition and rehabilitation projects
2. Homeownership projects
Projects that do not fit these two priorities will still be
eligible to submit a proposal.
Competitive Selection Criteria also includes:
Project provides at least 50% or more of the units for
extremely low-income families at 30% AMI (possible
F
oints based on a tiered scoring —10 pts. for 50%, 8 pts.
0r 40%, 6 pts. for 30%, 4 pts. for 20%, etc.)
BONUS POINTS: Project provides at least 75% or more of
the units for extremely low-income families at 30% Area
Median Income
HOME -ARP Funds
The City was awarded $6,183,914 in HOME -ARP funds that are
restricted to serve people experiencing homelessness.
A Substantial Amendment to the FY 2021-2022 Annual Action
Plan is required to allocate these new HOME -ARP funds which
includes the CitY 's HOME -ARP Allocation Plan.
HOME -ARP Allocation Plan:
The City will issue an RFP for Affordable Housing Development to
commit the funds for the following two eligible activities:
To acquire, rehabilitate, or construct affordable rental housing
primarily for individuals and families experiencing
homelessness• and
To acquire and develop HOME -ARP non -congregate shelter for
individuals and families experiencing homelessness (e.g.
motels).
RFP Issuance and Deadline
With approval by City Council, the RFP for Affordable
Housing Development will be issued on December 8, 2021.
Staff will publicize the RFP as widely as possible to
affordable housing developers.
The deadline for the RFP will be February 28, 2022.
Following this competitive selection process, staff will
return to City Council with a recommendation to award
affordable housing funds to one or more projects.
Questions