(Washington, DC) Jalal Greene, Director, District of Columbia Department of Housing and Community Development (DHCD), has issued Requests for Qualifications (RFQ) for Lenders and for Non-Profit Affordable Housing Developers to be selected or qualified to participate in the new Site Acquisition Funding Initiative for Affordable Housing (SAFI), under Housing Production Trust Fund Program (HPTF), administered by DHCD.
The $15 million SAFI funding for Fiscal Year 2005 seeks to leverage DHCD funds with private monies to provide expeditious closings, accessibility, and a revolving loan fund for non-profit developers for the preservation, rehabilitation and production of affordable housing. Under this new initiative, DHCD will partner with established lenders, currently funding affordable housing ventures, who will provide site acquisition and pre-development loans, purchase options, and technical assistance to Participating Non-Profit Affordable Housing Developers. This will allow these developers to compete in the District’s real estate market with its rapidly escalating property values and provide a streamlined process to administer acquisition funding.
Developers can utilize SAFI funds for multi-family ventures of 10 units or more for affordable rental housing, including special needs housing of at least 5 units; and home ownership housing, which must have a minimum of 5 units.
For additional information regarding the SAFI Initiative, please contact Victor Selman, 202/442-7173. Preprinted copies of the RFQs may be obtained from DHCD, at the 9th Floor Reception Desk, 801 North Capitol St., NE, Washington, DC 20002. Lender RFQs are due by 4:00 pm on June 6, 2005, and Developer RFQs are due by 4:00 pm on June 13, 2005.