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
Contract Overview
Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.
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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, USASet-Aside
Timeline
Submission Closed
Organization & Contact Information
Full Description
Earlier notices in this NAICS code
Posted before this notice, open and closed
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