HOME Funding for Affordable Housing Development

The HOME Funding for Affordable Housing Development initiative is administered by the City of Turlock on behalf of the Stanislaus County HOME Consortium, which includes the Urban County and its incorporated cities and unincorporated areas. Effective July 1, 2023, Stanislaus County became the lead entity for the Consortium, though the City of Turlock retains responsibility for administering any unexpended HOME funds and ensuring compliance for projects initiated under the prior structure. This solicitation, numbered 2027-RFP-004, seeks proposers to develop affordable rental housing through new construction, acquisition, rehabilitation, or conversion of existing structures, with all units required to remain affordable for fifty years and serve households at or below 60% of Area Median Income, including a minimum of 20% occupied by households at or below 50% of AMI. Funding is provided as a 50-year loan at a simple interest rate of 3% per annum, and proposers must provide a detailed line-item budget covering acquisition, hard and soft construction costs, financing fees, reserves, and all funding sources, which must fully balance with the total development cost. Proposals are evaluated based on qualifications and experience (25%) and demonstrated community need and impact (25%), with the remaining scoring components unspecified; price is considered but is not the sole determinant, and responsiveness to threshold requirements is mandatory for eligibility. Applicants must submit a comprehensive package including a project narrative, staffing resumes, similar project references, market analysis, site control documents, letters of commitment, architectural renderings, and a detailed timeline with milestones, tasks, responsibilities, and risk mitigation strategies for construction delays, permitting, and weather. All projects must comply with federal, state, and local regulations, including 2 CFR 200, 24 CFR 92, Davis-Bacon prevailing wage standards, National Environmental Policy Act procedures, Fair Housing Act, Title VI, Section 504, and the Americans with Disabilities Act. The Borrower must maintain all records in accordance with HUD requirements, submit monthly financial and performance reports, provide annual monitoring documentation, and ensure tenant income certifications are obtained and maintained. Insurance mandates include automobile liability coverage of at least $1 million per accident, Builders Risk or Installation Floater insurance covering 100% of reconstruction cost with ordinance or law buy-back provisions, and flood insurance if located in a FEMA high-hazard zone. Proposals must be submitted electronically through the City’s OpenGov portal by August