REQUEST FOR PROPOSALS - ELM STREET COMMONS

Elm Street Commons is a 52-unit multifamily residential property located in Anaheim, California, originally developed in 2006 with financing from the Redevelopment Agency and Low-Income Housing Tax Credits under Section 42 of the Internal Revenue Code. After experiencing operational and financial distress that led to a strategic default by the prior owner, the Anaheim Housing Authority intervened by purchasing the outstanding mortgage loan using Low and Moderate Income Housing Asset Funds, thereby preventing foreclosure and preserving the property’s affordability restrictions and resident tenancy. The Authority now seeks a new developer through Request for Proposals DEV2026-RFP0002 to assume management and operational responsibilities under strict regulatory frameworks. The property consists of a single four-story building over two levels of subterranean parking, with a gross area of approximately 78,000 square feet and a unit mix of 34 two-bedroom and 18 three-bedroom apartments. All activities are governed by a comprehensive set of regulatory agreements tied to the land, mandating long-term affordability, non-discrimination, and compliance with federal and state fair housing laws including prohibition of discrimination based on race, religion, color, national origin, ancestry, physical handicap, medical condition, marital status, gender, and sexual orientation. The property is subject to periodic inspection and audit rights by the Authority, with compliance monitoring required under ASTM E2018-24 standards for property condition assessments. The Developer must adhere to stringent contractual obligations including the prohibition of any discriminatory practices in leasing, employment, or services; full compliance with the Americans with Disabilities Act for public accommodations; and rigorous environmental safeguards to prevent the release of hazardous materials. No amendments or modifications to the regulatory agreements may be made except in writing, and the restrictions run with the land, binding all successors and assigns. The Developer is prohibited from selling, transferring, or encumbering any portion of the property without consent. The Authority retains the right to enforce compliance through corrective actions, including liens and cost recovery for unaddressed maintenance issues—ten days for graffiti, debris, and waste; thirty days for general maintenance, landscaping, and building improvements. Access to records and inspections must occur in Orange County with at least twenty-four hours’ notice. Payment for services and repairs will follow a process requiring purchase order matching, approval by the Field Supervisor, and semi-monthly voucher processing by the Agent’s Central Office. The solicitation includes essential supporting documents: Exhibit A (rent roll), Exhibit B (detailed property condition report), Exhibit