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Multifamily 2018 Priorities, Loan Terms and RFP DetailsDevelopment Standards TimelineProcurement ProceduresSelection CriteriaCompliance DiscussionQ&A
AGENDA
Multifamily PrioritiesPromote Development
New Construction Reconstruction Renovation Purchase
In Following AreasIn Following Areas
Complete Communities
Complete Communities
Concerted Revitalization Areas / TIRZs
Concerted Revitalization Areas / TIRZs
Low Poverty Areas / High Performing
Schools
Low Poverty Areas / High Performing
Schools
Preservation and Conversion
Preservation and Conversion
Permanent Supportive / Special
Needs Housing
Permanent Supportive / Special
Needs Housing
TransitOriented
Development
TransitOriented
Development
RFP Details
Sites must have a city of Houston address Sources of Funds – HOME, CDBG, TIRZ
and any other sources availableEligible for new construction, rehabilitation,
acquisition and demolitionExperienced developers with capacity only
Loan Terms
Awards to be structured as non-amortized loans payable at maturity*1% interest only* (subject to cash flow) 10-40 year loan term and LURA (includes
24 month construction term)Subordinate debt, but LURA senior to all
liens
*Not applicable to PSH or transactions without senior debt
Timeline
Applications Due Friday, March 30th 3:00 pm (sharp)
Threshold Review and Final Selection Monday, April 30th
HCDD Underwriting and Project Review Committee 120 Days
Housing Subcommittee Third Tuesday of each month
Document Preparation and City Council Approval
4 Weeks after Housing Subcommittee Approval
Accessibility2010 ADA Standards for Accessible Design with 11 HUD Exceptions
Third-party review of the drawings using appropriate accessible standards is required.
Accessibility -The Process A detailed review of the drawings using
appropriate accessible standards will be conducted by a Third Party Consult. The report will include detailed comments and requirements backing up the comments.
An interim inspection of the project to occur when the construction of one of each accessible floor plan types are at 50-70% completed.
A final inspection
City Standard: TDHCA’s Multifamily Rules & QAPwith three main exceptions
Higher standards for floodplain development
Floodway development prohibited
Exception
Lower threshold for poverty rates – 25% Exceptions for
rehabilitations and sites in Complete Communities, CRAs and TIRZs
Exception
City Standard: TDHCA’s Multifamily Rules & QAPwith three main exceptions
Higher threshold for school performance standards Exceptions for
rehabilitations and sites in Complete Communities, CRAs and TIRZs
Exception
City Standard: TDHCA’s Multifamily Rules & QAPwith three main exceptions
Applicationsfor HCDD
Competitive Funds
HOME, CDBG, TIRZ
HCDD CompetitiveFunds Application
Scoring Criteria
Developer Experience
Site Location
Project Information
Financial Analysis
SCORE CRITERIA
Developer Experience
Years of experience Number of transactions Financial capacity
Key Scoring Criteria
Site Location
Complete Community Concerted Revitalization
Area (CRA) Poverty concentration Etc.
Key Scoring Criteria
Compliance Standards
City of Houston MBE / SBE
Section 3 – Employment and
contracting opportunities
Davis Bacon – Labor standards
HCDD MWSBE Policy
HCDD takes all necessary affirmative steps to ensure that MWSBEs and labor surplus area firms are used to the extent possible.
In addition, ensure that minority, small business enterprises are solicited on all applicable projects when local, state and federal triggers are met.
Construction Goal AmountsAnnual citywide MWSBE is 34% for construction. For city funded projects, HCDD shall observe the goal stipulation based on the city’s awarded amount solely.
HCDD shall observe the following goals for construction contracts funded with federal grant dollars, pursuant to federal statutes/regulations: • 12% participation for construction contracts over $3,000,000.• 11% participation for construction contracts from $1,000,000 -
$3,000,000.• 10% participation for construction contracts less than $1,000,000.• 4% SBE Cap for contract-specific goal.
Section 3 General Policy
Section 3 is the legal basis for providing jobs for residents and awarding contracts to businesses in areas receiving certain types of HUD financial assistance.
Under the Section 3 HUD Act of 1968, wherever HUD financial assistance is expended for housing and community development, to the greatest extent feasible, economic opportunities will be given to Section 3 residents and businesses in that area housing.
Funding Threshold • The rule that triggers implementation of Section 3 requirements is “new”
employment. Federally funded projects in excess of $200,000, and subcontracts in excess of $100,000 are required to follow the policy and procedures of Section 3 once the need for “new” employment is established.
• If you have a need for Lower-Tier Subcontractors and/or New Hires, you will be required to comply with the following performance goals, if applicable to your need:
a) 10% of construction contract must be awarded to Section 3 Business.b) 3% soft cost (non-construction) budget must be awarded to Section 3
Business.c) 30% New Hire goal states 30% of new hires must be selected.
Who are Section 3 Residents?
Section 3 residents are: Public Housing Residents; andLow and very low income persons who live
in the metropolitan area or non-metropolitan county where a HUD -assisted project for housing or community development is located.