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REPORT - COMMUNITY DEVELOPMENT BLOCK GRANT - DISASTER RECOVERY NOTICE OF FUNDING AVAILABILITY - FUNDING RECOMMENDATIONS
BACKGROUND: In response to the Community Development Block Grant - Disaster Recovery (CDBG-DR) Notice of Funding Availability (“NOFA”) for the Disaster Recovery - Multifamily Housing Program (DR-MHP) announcing approximately $38 million of funds for affordable housing, the Housing Authority received seventeen applications requesting $149 million for 1,283 total new units. A separate Request for Proposals (RFP) for Project-Based Vouchers was conducted simultaneously with the intent to improve the financial feasibility of projects seeking DR-MHP or other competitive financing. The timelines for both the NOFA and the RFP were expedited in an effort to position projects applying for 4% tax credits in February 2021. A joint City Council and Housing Authority Ad-Hoc Review Committee comprised of Councilmembers Sawyer and Schwedhelm and Housing Authority Commissioners Burk...
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