Affordable Housing Development Funding

Description

The County of Volusia, Department of Community Services, Division of Community Assistance, is soliciting proposals for funding loans to support the development of affordable, multi-family rental housing projects or permanent supportive housing (PSH). The projects must be located in the County of Volusia, excluding the incorporated limits of the cities of Daytona Beach and Deltona. The County has State Housing Initiatives Partnership (“SHIP”), HOME Investment Partnerships (“HOME”) and HOME Investment Partnerships – The American Rescue Plan Act (“HOME-ARP”) program funds available.This request for proposals (RFP) seeks to address affordable housing needs in Volusia County. A proposal may request funding in one or more sections listed and may request all or a portion of the available funding. Both for-profit and not-for-profit developers are encouraged to participate.Eligible proposals requesting multi-family development funds must request funding for no less than ten (10) affordable rental units per project. Project proposals may contain more than ten (10) units, may contain units that are not included in the funding request, and can include units that are not affordable housing as long as the minimum is met. All affordable units must be for households at or below 80% of the area median income level while meeting specific set-aside commitments indicated in this RFP. The maximum funding request for multi-family development is $50,000 per unit.There is no minimum number of units required for proposals seeking funding for PSH only. All PSH units must be for households that meet HOME-ARP specific requirements indicated in this RFP. The maximum funding