Now Accepting Proposals
The City is seeking multi-family developers and owners to provide proposals for the rehabilitation of multi-family housing to increase the diversity of housing options for Charlotteans using Community Development Block Grant funds. Funding will be available for rehabilitation where the rehabilitation substantially improves the quality of the housing stock.
The City allows flexibility in project financing based on the economics of each proposal. Successful projects will be required to ensure a period of affordability enforced through deed restrictions or similar instruments. The maximum request may be no more than 50% of the total project cost and no more than $35,000 per unit. At least 51% of the tenants in each property much have incomes that do not exceed 60% ($38,500) of the area median income. All projects financed through this program will be required to submit to regular compliance monitoring and must incorporate a compliance monitoring fee into the facility’s proforma.
Proposals will be competitively scored and additional points will be awarded for properties that offer housing to a mix of incomes, energy efficiency improvements and increased leveraging. The City anticipates approximately $3 million in funding available in this funding round.
The City reserves the right to waive any minor informalities or irregularities, which do not go to the heart of the proposal or prejudice other offers, or to reject, for good and compelling reasons, any and all proposals. Conditional proposals, or those which take exception to the RFP, will be considered non-responsive and will be rejected.
The RFP Schedule
|Request for Proposal (RFP) Posting
||July 21 2014|
Proposal Due Date:
Neighborhood & Business Services
600 East Trade Street – Suite 104
Charlotte, NC 28202
|August 21, 2014 by 5:00pm|
|End of Proposal Clarification Period
||August 28, 2014|
|Housing & Neighborhood Development Committee
||September 10, 2014|
|City Council Dinner Briefing
||September 22, 2014|
|City Council Approval
||October 27, 2014|