Request for Proposal for 2026 Affordable Rental Housing Project Utilizing Workforce Housing Trust Funds

Request for Proposal for 2026 Affordable Rental Housing Project Utilizing Workforce Housing Trust Funds The Citys Department Of Health, Housing & Homelessness (Hhh), Will Allocate Between $9,250,000 And $12,500,000 Of Local 2025 General Obligation Bond Funds Approved For The Workforce Housing Trust Fund And An Additional Affordable Housing Appropriation Under Council Resolution R-25-206, Towards The New Construction Or Acquisition/Rehabilitation And/Or Preservation Of Multiple Affordable Mixed-Income, Multi-Family Rental Housing Developments. Hhh Intends To Divide The Award Of Funding Among Two (2) To Three (3) Development Projects Responding To This Rfp, Thereby Leveraging City Resources And Maximizing The Number Of Affordable Units To Increase The City’S Housing Stock. Offerors Should Request Funds Accordingly. Any 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 30% Of All Units Are Affordable To Households At/Or Below 80% 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 Program, Other Hud Programs, Bank Loans, Etc.