RFQ - Affordable Housing Developer and Operator

Affordable Housing Developer and OperatorApril 22, 2024 The City of Bainbridge Island (“the City”) is issuing a Request for Qualifications (RFQ) from established affordable housing developers capable of developing and operating a 100+ unit mixed use development using Tax-exempt bond financing and the Federal 4% Low Income Housing Tax Credit program (“4% LIHTC”) on City-owned land on Bainbridge Island.  The City encourages responses from firms led by those who identify as women or members of traditionally marginalized communities, or who are or could be certified as Minority Business Enterprise/Women Business Enterprise (MBE/WBE), Disadvantaged Business Enterprise (DBE), or Black, Indigenous, People of Color (BIPOC) led Organizations. Background Bainbridge Island City Council has identified affordable housing as a City priority and is committed to expanding the supply of housing on the Island that serves lower income households, particularly families with children, employees of Bainbridge Island business and public agencies, and seniors who might otherwise be displaced from the community. The City-owned parcel at 625 Winslow Way East has been identified as an ideal location for a significant supply of affordable rental housing greatly needed in the community.  The City has conducted an initial design and feasibility assessment that supports its expectation that a 100+ unit mixed-use apartment building can be developed on the site. The zoning analysis concluded that a feasible affordable housing project meets current City Municipal Code (Reference 1) height restrictions but will require an increase in Floor Area Ratio (FAR).  The Winslow Subarea Plan Update (Reference 2) currently under review contemplates  increasing FARs and adjusting parking standards  consistent with this scale of development for the site.  The City is prepared to commit approximately $3 million of its own housing funding to the project and will cooperate with the selected developer to identify other gap funding sources required to make a 4% LIHTC project feasible. In addition, the City is prepared to invest the value of the land into the project but intends to retain long term control of the land.Project Objectives:An affordable housing development integrating a high level of design, quality construction, and environmental sustainabilityApproximately 100 units or more of rental housing that will be affordable to households with incomes not exceeding 60% of Area Median Income (AMI), financed through the Bonds / 4% LIHTC program of the Washington State Housing Finance Agency (WSHFC).Housing that serves a mix of household sizes, responding to needs for affordable housing on Bainbridge Island that have not been met by market-driven development.Ground-floor non-housing spaces that contributes positively to the pedestrian environment and economic vibrancy of the area.Long range commitment to maintain and operate the affordable housing to a standard that contributes positively to the community.A land lease, covenant or mechanism that ensures that the City of Bainbridge Island retains long-term control of the underlying land.   Supplemental information on the property and project may be issued by the City and posted on the website as a supplement to this RFQ. Request for Qualificatiothe first stage of a developer selection process, the City is issuing this Request for Qualifications from housing developers with demonstrated purpose, experience, longevity and financial capacity to enter into an agreement with the City of Bainbridge Island to redevelop the 625 Winslow Way E parcel consistent with the Project Objectives, and who express a compelling vision for the project.Based on its review of the responses to the RFQ, at Council’s direction, the City may request additional information, references and/or concept information from some or all RFQ respondents. The City may alternatively or additionally conduct interviews with RFQ respondents before selecting a firm with which to negotiate a development agreement. SubmittalsPlease address the following information in your submittal. Brevity is appreciated. The City may request supplemental information from respondents during review of the RFQ responses. About the Housing Development FirmStructure, leadership, and mission or focusOperational scale of organizationHistory doing 4% LIHTC developmentsExperience of