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This Solicitation opportunity from Florida was posted on November 14, 2024. The submission period has ended. Browse the details below for market research, or find similar active opportunities.

Affordable Housing Development Funding

Closed
25-P-04MCState & Local

Contract Overview

Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.

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NAICS: 441110
New
SLED
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FINADMIN494 - Finance & Administration

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about 7 hours ago

DEADLINE

in 7 days

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Volusia County's Department of Community Services is seeking proposals to fund loans aimed at developing affordable multi-family rental housing and permanent supportive housing (PSH) within the county, excluding Daytona Beach and Deltona. The available funds come from programs such as SHIP, HOME, and HOME-ARP, and are intended to address the pressing need for affordable housing options. Developers, both for-profit and non-profit, can submit proposals requesting funding for a minimum of ten affordable rental units, with the flexibility to include additional units or non-affordable units within their projects. All affordable units must serve households earning at or below 80% of the area median income, with funding capped at $50,000 per unit for multi-family projects and $80,000 per unit for PSH projects. The funding is structured as a 50-year, interest-free, forgivable loan, contingent upon securing full project funding from other sources. Awards are at the discretion of the County and may be granted to one or multiple applicants, or not at all, based on the evaluation process. Projects must be approved by the Volusia County Council and will require a formal development agreement, mortgage, note, and restrictive covenants. Funds spent prior to executing these agreements will not be reimbursed, and federal funds are conditional upon environmental reviews and HUD approval before any acquisition or construction begins. The contract size ranges from five million to twenty million dollars, with the primary point of contact being Meghan Chestnut. The response deadline for proposals is December 18, 2024, and additional project details can be accessed through the county’s procurement portal.

General Info

Place of Performance

FL, USA

Set-Aside

NONE

Documents

8

25-P-04MC Affordable Housing Development Funding

PDF, High priority: read this firstrfp
High

25-P-04MC Federal Contract Provisions

PDF, High priority: read this firstspecifications
High

Attachment A - Funding Availability Chart

PDF, High priority: read this firstspecifications
High

Attachment B - SHIP Income and Rent Limits

PDF, High priority: read this firstspecifications
High

Attachment C - HOME Income Limits (Florida)

PDF, High priority: read this firstspecifications
High

Attachment D - HOME Rent Limits (Florida)

PDF, High priority: read this firstspecifications
High

Attachment E - Supplemental Conditions for Federally Assisted Projects

PDF, High priority: read this firstspecifications
High

Attachment F - Project Summary Required Submission

XLSX, High priority: read this firstspecifications
High

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Timeline

PhaseClosed
Posted

Solicitation

Response Deadline

Deadline has passed

Submission Closed

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Organization & Contact Information

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AgencyFlorida → Community Assistance
Contacts1 person available
OfficeN/A
Office AddressN/A

Full Description

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The County of Volusia, Department of Community Services, Division of Community Assistance, is soliciting proposals for funding loans to support the development of affordable, multi-family rental housing projects or permanent supportive housing (PSH). The projects must be located in the County of Volusia, excluding the incorporated limits of the cities of Daytona Beach and Deltona. The County has State Housing Initiatives Partnership (“SHIP”), HOME Investment Partnerships (“HOME”) and HOME Investment Partnerships – The American Rescue Plan Act (“HOME-ARP”) program funds available.This request for proposals (RFP) seeks to address affordable housing needs in Volusia County. A proposal may request funding in one or more sections listed and may request all or a portion of the available funding. Both for-profit and not-for-profit developers are encouraged to participate.Eligible proposals requesting multi-family development funds must request funding for no less than ten (10) affordable rental units per project. Project proposals may contain more than ten (10) units, may contain units that are not included in the funding request, and can include units that are not affordable housing as long as the minimum is met. All affordable units must be for households at or below 80% of the area median income level while meeting specific set-aside commitments indicated in this RFP. The maximum funding request for multi-family development is $50,000 per unit.There is no minimum number of units required for proposals seeking funding for PSH only. All PSH units must be for households that meet HOME-ARP specific requirements indicated in this RFP. The maximum funding request per unit for PSH is $80,000 per unit.The awards shall be structured in the form of 50-year deferred, forgivable loans with 0% interest. The loan awards will be contingent upon the applicant’s project being fully funded by all other sources being pursued. Volusia County, in its sole discretion, may choose to award funds to one applicant, multiple applicants, provide funding to none of the applicants, or request additional information or documentation prior to making an award.Volusia County Council shall approve funding for affordable housing projects. Any projects that are awarded will include a written development agreement, mortgage, note and restrictive covenants  (“Contract”). Important Note: Any funds expended by the applicant prior to executing the written rental developer agreement and related loan documents will NOT be eligible for reimbursement. Any federal funds (HOME or HOME-ARP) recommended for award will be considered conditional until an environmental review is completed and HUD issues an Authority to Use Grant Funds, prior to that issuance no acquisition or construction can occur.  

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