Multifamily Housing Solicitation

Acquisition, Preservation and Rehabilitation of Naturally Occurring Affordable Housing (NOAH) projects closing no later than the first quarter of 2022 (countywide), or, projects in Suburban Ramsey County applying for tax-exempt bonds through Minnesota Management and Budget (MMB) in January 2022. ​

Projects must demonstrate and satisfy the following feasibility requirements in their application:

• Whether the proposed project meets the applicable ARPA funding requirements, regulations and guidance.
• Whether the proposed site is appropriate for the proposed housing and the target population.
• Whether the proposed housing is needed in the intended market based upon population, job growth, and very low housing vacancy rates. This includes the need for supportive housing units.
• Whether the costs of developing the housing are reasonable and/or justifiable.
• Whether the applicant has demonstrated cost effectiveness for all stages and aspects of the development without compromising overall development quality.
• Whether the housing is economically viable.
• For permanent supportive housing, whether the service model, staffing, and secured funding are adequate to address the needs of the population to be served

Affordability 

At least 10% of units must be affordable to people and/or households earning 30% of Area Median Income (AMI) or below and Applicant must demonstrate substantial long-term affordability.

Funding 

Some or all of the payments under any resulting contracts, or executed agreements will be made from federal funds obtained by the county through the American Rescue Plan Act of 2021 (Public Law 117-2 and amendments thereto), Catalog of Federal Domestic Assistance (CFDA) No. 21.207 and Federal Award Identification Number SLFRP0236 (“American Rescue Plan”, “ARPA”). Therefore, successful Responder(s)  agree to comply with the American Rescue Plan Act, as amended, as well as the rules of any regulatory body under the American Rescue Plan Act.

Solicitation

Responses must demonstrate the following:

• How the project will incorporate county ARPA funding into a financing pro forma;
• How the project will conform to ARPA requirements for increasing the supply of affordable and high-quality living units; and
• How the project will comply with ARPA geographic eligibility (location in a qualified census tract) or benefit locally-defined populations or geographic areas where the pandemic resulted in disproportionate public health or economic outcomes for the specific populations, households, or geographic areas to be served.

In addition to demonstrating financial readiness, projects must demonstrate and satisfy the following capacity requirements in their application:

• The applicant’s related housing experience
• Whether the applicant has successfully completed similar projects or is partnering with other organizations that have successfully completed similar projects
• Whether the applicant has strong current and expected ongoing capacity to complete the proposed housing, as well as other proposals being developed by the organization
• Whether the applicant has the capacity to maintain the rental housing long-term

Responses must demonstrate the following:

• That the costs are allowable under ARPA funding requirements;
• That project costs are reasonable;
• Other sources of project financing commitment, including amounts and terms, and in what amounts;
• To the extent required, that the county’s ARPA funds are not substituted for non-Federal financial support
• That the project is financially feasible;
• To the extent practicable, that the return on the owner’s equity investment will not be unreasonably high; and  
• To the extent practicable, that county ARPA funds are disbursed on a pro rate basis with other finances provided to the project.