Family Resource Center Request for Proposal

Description

Request for Proposal Building and Property for Affordable Housing 1111 S Linn Street Boone, Iowa RFP Release Date: October 20th, 2026 Proposal due date: November 20th, 2026, at (Noon) 1 Introduction 1.1 Project Overview The City of Boone (“City”) is seeking development proposals for the City-owned property located at 1111 S Linn Street. The intent of this Request for Proposals (RFP) is to sell the property to a qualified development firm or team that will develop the property in a manner that best meets the City’s development priorities for this location. The City’s priorities are outlined in Section 3.4 of this RFP. The City has recently been designated an Iowa Thriving Community which will allocate additional points to a Low-Income Housing Tax Credit application for a project proposed on this site. Specific minimum requirements and/or evaluation criteria for the Property are further defined below. The successful proposer will enter into a purchase agreement and development agreement with the City to purchase and develop the property. To further ensure the long-term affordability, quality, and viability of the project, the successful proposer will be required to comply with a long-term affordable housing deed restriction or similar durable commitment. The successful proposer agrees to maintain Child Care Junction and Boone County Headstart as tenants for a period of at least 10 years with annual rental rate increases not to exceed more than 7% annually. Bonus points will be awarded to any proposer that agrees to maintain Child Care Junction and Boone County Headstart into perpetuity. The existing tenants shall have the first right of refusal should successful proposer decide to lease existing vacant space to an external tenant at any point in a 10-year period. 1.2 Proposal Format and Content (Section 5) When submitting a proposal, Proposers must follow the specific format and contents detailed in Section 5. Failure to do so will likely prolong the evaluation process. 2 General Rules 2.1 RFP Overview This Request for Proposals ("RFP") is an invitation for Proposers to submit a proposal to the City. It is not to be construed as an official and customary request for bids, but as a means by which the City can facilitate the acquisition of information related to the purchase of services. Any proposal submitted is a suggestion to negotiate and NOT A BID. 2.2 Proposal Submission Proposals shall be submitted in accordance with Section 5.