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Title:
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REPORT - DECEMBER 2020 REQUEST FOR PROPOSALS FOR PROJECT BASED VOUCHERS - FUNDING RECOMMENDATIONS FOR 3575 MENDOCINO AVE PHASE I, BURBANK AVENUE APARTMENTS, THE CANNERY AT RAILROAD SQUARE, DEL NIDO APARTMENTS AND LINDA TUNIS SENIOR APARTMENTS
BACKGROUND: On November 3, 2020, the City of Santa Rosa Housing Authority released a Request for Funding Proposals (RFP) for up to 80 Project-Based Vouchers (PBVs) with the intent to improve the financial feasibility of projects seeking Community Development Block Grant - Disaster Relief (CDBG-DR) or other competitive financing. The RFP was released in conjunction with a separate, concurrent NOFA for approximately $38 million in CDBG-DR funds. All final awards of vouchers will be contingent upon the project receiving the competitive funding the PBVs are being used to leverage; in the case of new construction projects, final awards are also contingent upon a successful completion of a Department of Housing and Urban Development (HUD) Subsidy Layer...
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