FLORIDA HOUSING FINANCE CORPORATION
RFP 2012-04 Extremely Low Income Households
The Florida Housing Finance Corporation invites all qualified Applicants to submit proposals for consideration in accordance with the terms and conditions set forth in Request for Proposals 2012-04.
Florida Housing is soliciting sealed proposals from qualified Applicants that commit to set aside additional units for ELI Households by converting units at or above the 50 percent Area Median Income (AMI) committed to in their LURA or EUA down to the ELI AMI level in accordance with the terms and conditions of this RFP, applicable laws, rules, and regulations, and Florida Housing’s generally applicable construction and financial standards.
Florida Housing expects to have up to $20,000,000 of uncommitted SAIL monies for the SAIL program. The monies resulted from SAIL interest and principal payments on SAIL loans, and earnings from the investment of SAIL funds. Earlier this year, the Legislature passed a bill that the Governor signed into law authorizing SAIL funding to preserve existing Guarantee Program developments that meet the following criteria;
(1) The Guarantee Program mortgage note was executed and recorded not later than September 30, 2003;
(2) The development must commit to provide additional units for extremely-low-income persons; and
(3) The shareholders, members, or partners of the project owner must have funded deficits in an amount that is not less than 20 percent of the State Apartment Incentive Loan not later than the closing of any financing under this RFP.
The legislation also provided a funding priority for Guarantee Program developments approved by the Board to provide additional units for extremely-low-income persons in calendar year 2011 and a maximum amount of $2.5 million in new SAIL ELI funding per development.
Proposals shall be accepted until 2:00 p.m., Eastern Time, on Monday, October 8, 2012, to the Attention: Sherry Green, Contracts Administrator, Florida Housing Finance Corporation, 227 North Bronough Street, Suite 5000, Tallahassee, Florida 32301-1329. For questions or additional information, please contact: Sherry Green, (850)488-4197 or sherry.green@floridahousing.org. To obtain a copy of the Request for Proposals, which outlines selection criteria and applicant’s responsibilities, please submit your request to the attention of Sherry Green, or you can download the Request for Proposals from the Florida Housing Finance Corporation web site: http://apps.floridahousing/org/StandAlone/ FHFC_ECM/AppPage_LegalRFPs.aspx.
Any modifications that occur to the Request for Proposals will be posted at the web site and may result in an extension of the deadline.
