Project Based Voucher & Gap Financing for Mixed Finance Developments 2018

RFP/RFQ#600-33-18

CLOSED, Awarded

The Housing Authority of Pittsburgh (“HACP”) continues to pursue opportunities to expand and preserve the availability of quality affordable housing in the City of Pittsburgh. Over the past several years, HACP has repeatedly issued Requests for Proposals for Project-Based Voucher awards. In order to increase the likelihood of proposed projects being implemented, HACP is issuing this revised and enhanced Request for Proposals. Skilled and knowledgeable residential real estate owner/developers and/or development firms (hereinafter referred to as “Owner/Developer”) that have the experience and capacity to produce affordable housing units and/or to co-develop affordable housing units in partnership with HACP’s instrumentality, Allies and Ross Management & Development Corporation (“ARMDC”), are encouraged to apply. HACP is desirous to embark on a strategic neighborhood revitalization and affordable housing strategy by investing in the development and/or preservation of up to two-hundred (200) affordable rental housing units throughout the City of Pittsburgh (“City”) over the next thirty-six (36) month period through the utilization of Project Based Vouchers (“PBV”) and last resort gap financing to the extent necessary for new and substantially renovated housing units. HACP may award to multiple proposers. There is no maximum or minimum size requirement for proposed developments. Apart from the organization’s expertise and capacity in successfully funding and implementing comparable projects, the proposals will also be evaluated on how well the proposed plan can positively impact communities and neighborhoods. HACP will provide certain financial incentives to support the successful completion of any particular development proposal. The primary tools that may be afforded by HACP to encourage participation and successful creation of affordable housing units are: ? Section 8 Project Based Housing Choice Voucher Funding or PBV ? Last Resort Gap Financing in the form of soft and hard loan(s)(Gap Financing) Both programs (i.e., PBV and Gap Financing) are explained in greater detail in Section II of the RFP. These programs offer operational funding and development gap financing incentives that can support partial project financing but not the total development costs of the project. These programs can only be used for affordable housing units, even if those units are within larger unsubsidized developments. Proposals including affordable units within larger unsubsidized developments are encouraged. Owner/Developers are also encouraged to be ingenious in the leveraging of these resources and the structuring of financial deals that could ultimately promote the integration of diverse socio-economic populations and create healthy communities. All of the units supported by these programs must be located within the City of Pittsburgh and Owner/Developer must commit to the long-term affordability restrictions (minimum 30 years or gap financing loan term, whichever is greater) and management of the newly developed or rehabilitated communities.

Issue Date:

Oct 15, 2018 08:07 am

Meeting Date:

Oct 24, 2018 11:00 am

Deadline Date:

Nov 2, 2018 11:00 am

Procurement Details:

Proposers interested in the Project Based Voucher rental assistance program only should respond to HACP’s separate RFP for Project Based Housing Choice Vouchers only. Owner/Developers who apply for, and are selected to participate in, the Gap Financing program, will be required to participate in the Project Based Voucher rental assistance program in accordance with HACP policies and guidelines, as detailed below. The HACP is a municipal corporation, formed under the U.S. Housing Act of 1937, codified at 42 U.S.C. Section 1401 et seq. as amended and the Housing Authority Law of the Commonwealth of Pennsylvania codified at 35 P.C. 1542, et. seq. as amended. As such, the HACP is charged with providing “affordable decent, safe and sanitary housing for low-income persons.” The HACP has approximately 300 employees and services over 20,000 residents. HACP maintains approximately 4,000 units of rental housing directly or through private management companies; and, through its Section 8 Housing Choice Voucher program, funds the rental of approximately 5,500 other units of privately owned housing. The United States Department of Housing and Urban Development (“HUD”) provides the funding for these programs. For recipients of Gap Financing, HACP requires that any Developer Services performed are in compliance with all rules, regulations and requirements of Mixed-Finance Development set forth at 24 C.F.R. Part 905 and all other applicable Federal regulations including, but not limited to, the Quality Housing & Work Responsibility Act of 1998 ("QHWRA"), Section 208 of title V of the FY 1999 HUD appropriations Act (Public L.105-276, 112 Stat. 2518, approved October 21, 1998), as amended, and the U.S. Housing Act 1937. In addition to the Federal laws, rules and regulations, all Developer Services must also be performed in compliance with all Commonwealth of Pennsylvania laws and regulations, including where applicable, those governing the Pennsylvania Housing Finance Agency (“PHFA”) Low Income Housing Tax Credit (“LIHTC”) program. HACP requires that all units developed must be in compliance with all applicable Federal regulations including, but not limited to, Handicap Accessibility (Section 504), Uniform Federal Accessibility Standards (UFAS) and Federal procurement requirements. In addition to the Federal laws and regulations, all the units must satisfy the compliance requirements of the Commonwealth of Pennsylvania laws and regulations and the City of Pittsburgh Building Codes. HACP’s selection process under this RFP may result in multiple awards for Project Based Vouchers and Gap Financing support that HACP has determined to be in its best interest. As each proposed project’s financing is identified, planned and/or ready for implementation, HACP/ARMDC will analyze the deal and determine if HACP’s investment will assist in the timely implementation of the project. HACP reserves the right to award to one or multiple respondents, or to not make an award. HACP/ARMDC’s provision of gap financing is dependent on availability of funds and once its pool of funds is exhausted, the gap financing shall come to an end as this is a first in first out strategy. Any questions regarding this Request for Proposals should be in writing and directed to: Kim Detrick Director of Procurement/Chief Contracting Officer Housing Authority of the City of Pittsburgh 100 Ross Street, 2nd Floor Pittsburgh, PA 15219

Contact Information:

Mr. Kim Detrick
(412) 456-5116 Opt #1
Kim.Detrick@hacp.org
HACP Procurement Department
100 Ross Street
2nd Floor Suite 200
Pittsburgh, PA 15219

Question Deadline:

Oct 26, 2018 11:00 am

Bid Instructions:

HACP Procurement Department
100 Ross Street
2nd Floor Suite 200
Pittsburgh, PA 15219

Awardee:

MidPoint Group of Companies, Inc. TREK Development Group, Inc. Amani Christian Community Development Corp. Bridging the Gap Development, LLC. KBK Enterprises, LLC. Hill Community Development Corporation 327 NN, LLC. Ralph A. Falbo, Inc.

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