City of Albuquerque: Affordable Rental Housing Development ProjectDeadline: November 7, 2018
The City of Albuquerque’s Department of Family and Community Services (DFCS) is seeking proposals for the development of affordable rental housing in Albuquerque. Funding will support the construction and/or rehabilitation of a mixed-income, multi-family rental housing development. The development shall leverage the City’s contribution in accordance with the City’s Workforce Housing Ordinance, funding no more than 20% of the Total Development Cost of any one project, and provide that a minimum of 51% of all units are affordable to households at/or below 80% Area Median Income (AMI). Proposed affordable housing development projects need to demonstrate the capacity to obtain additional project financing from available sources such as the Low Income Housing Tax Credit (LIHTC) Program, other HUD Programs, bank loans, etc. The development should be pedestrian friendly and designed to create a sense of community through a site plan including building arrangement, amenities, onsite service coordination, and open space appropriate to the needs of populations to be served.
Amount: A total of: 1) up to $4,400,000 of HOME Investment Partnerships Program funding from HUD; and 2) up to $2,000,000 of local Workforce Housing Trust Funds (WFHTF) is available.
Eligibility: Nonprofit organizations along with their development team, such as for-profit corporations, limited liability companies, and partnerships which have demonstrated capability in providing the services for which they are applying are eligible. Lead applicant organizations must be duly registered and in good standing with the State of New Mexico Public Regulation Commission, and must have not-for-profit status under 501(c)(3) or equivalent non-profit status provided under the U.S. Internal Revenue Service Code. In addition, the non-profit must be Certified or Re-certified by DFCS as a Community Housing Development Organization (CHDO) or an Affordable Housing Development Organization (AHDO), prior to award of contract.
Note: A mandatory pre-proposal conference will be held on September 28, 2018, 10:00 am local time, at City DFCS Offices, 700 4th Street, SW Albuquerque, New Mexico, 87102.