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HOUSING CHOICE VOUCHER PROGRAM PROJECT-BASED VOUCHERS HIGH DENSITY - NEW CONSTRUCTION – 100% AFFORDABLE OWNER/DEVELOPER APPLICATION Instructions: Please review all instructions and fill out the attached form completely and include all necessary attachments. All information on each application will be kept confidential. Please submit one form for each property you wish to construct or rehabilitate. All questions and proposals should be submitted via email to Samantha Bradley at [EMAIL REDACTED]. All proposals must be received no later than 5:00 P.M., FRIDAY, JUNE 14, 2024. Background: The Arvada Housing Authority (AHA) is seeking to partner with Developers interested in developing new Affordable housing within the City of Arvada. The AHA plans to support this partnership with an allocation of up to 8 Project-Based Vouchers (PBVs) with rental levels set at up to 120% Fair Market Rent (FMR). This RFP defines “Affordable” as rents set at or below 80% AMI. Conditional Award: Applicants should note that this award will be conditioned on the following: Partnership with the City: The AHA or a wholly owned affiliate of the AHA or the City must be admitted to the Ownership Entity of the proposed development as a Special Limited Partner (SLP) as a condition to receive the vouchers. LIHTC Award Time Frame: Proposed developments that anticipate using LIHTC as a Source have 365 days from the Notification of Award to secure a LIHTC Award. Closing Deadline: It is expected that projects that will receive PBV assistance from the AHA anticipate reaching financial closing within a reasonable timeframe. The selected project will have 720 days from the Notification of Award to reach financial closing on its construction financing. If the project is a multi-phase project, the selected project must reach financial closing on at least the current phase of the project in the allotted time. Voucher utilization: For multi-phase projects, the Selected Project must use 100% of the vouchers awarded under this RFP for the current phase. Substantial Changes: The Selected Project is expected to be represented accurately in this application. Any other changes that would have reduced the project’s Total Score under this RFP cannot be made. It is expected that any proposed project is prepared to meet these. Should the Selected Project fail to meet any of the above conditions, the award will be considered terminated. In extraordinary ---PAGE BREAK--- circumstances, the AHA may choose to waive or extend some or all of these conditions on a case- by-case basis, but it is under no obligation to do so. Application Process: Applicants/Developers are invited to apply for PBVs by filling out the application provided and including all requested attachments and certifications. The AHA may automatically disqualify incomplete applications or applications that fail to follow the Form of Proposal without further review. The Form of Proposal can be found as Exhibit 2. Late applications will not be accepted. Complete applications will be reviewed and scored using the Scoring Matrix in Exhibit 3. Vouchers will be awarded to the proposal that receives the highest score. In the event of a tie, the following mechanisms will be used as tiebreakers in the following order; bonus points, higher number of units, lower per unit cost. If the conditional award of the Selected Project is terminated for any reason, the AHA may choose to award the vouchers to the next highest scoring application, or not award any vouchers under this RFP. The AHA may also choose not to award any vouchers under this RFP. Application Timeline: The review and award process will be conducted as follows: Request for Proposals is published: 5/16/2024 Deadline for questions: 5/30/2024 Answers to Questions (if any) is published as an addendum to the RFP: 6/5/2024 Submittal Deadline: 6/17/2024 Application Review and Question Deadline for AHA: 6/28/2024 Notification of Conditional Award(s): 7/8/2024 Threshold Criteria: The City of Arvada has identified the following as features necessary to be eligible to receive vouchers under this RFP: 1. Partnership with the City: The Arvada Housing Authority, or a wholly owned affiliate will be admitted into the Ownership Entity of the project as a Special Limited Partner as a condition to receiving the vouchers. The Partnership Agreement does not have to be executed at the time of submission. 2. 100% Affordable: 100% of the total proposed units must be income - restricted for households earning less than 80% AMI. 3. New Construction: Only New Construction projects are eligible to apply for vouchers under this RFP. 4. Financial Hardship: The AHA expects to only attach vouchers to projects that require them to make the project financially feasible. Proposals must demonstrate adequate financial hardship at unassisted Affordable Rents. 5. Zoning: Proposed project is properly zoned at the time of the application submission. ---PAGE BREAK--- ---PAGE BREAK--- ARVADA HOUSING AUTHORITY PROJECT BASED VOUCHER APPLICATION A. Applicant Information Please complete for each member of the proposed Applicant/Owner Entity, and affiliate parties. APPLICANT/OWNER: NAME: ADDRESS: WEBSITE: CONTACT NAME: CONTACT POSITION: CONTACT PHONE: CONTACT EMAIL: DEVELOPER (if different): NAME: ADDRESS: WEBSITE: CONTACT NAME: CONTACT POSITION: CONTACT PHONE: CONTACT EMAIL: Attachment A: Please provide an Organizational Chart of the proposed Owner Entity detailing ownership percentages of the proposed Owner Entity, as well as an explanation of affiliations between parties. ---PAGE BREAK--- B. Project Description Please provide a short description of your project in the space provided. If the proposed project will be phase, the applicant may disclose here, but should limit the description of the project to the applicable phase ONLY for the remainder of Section B. applicable phase only: B.2 – Project Details Please fill out the following for the Project (highlighted boxes indicate the confirmation of Threshold Criteria): PROJECT NAME: ADDRESS: TOTAL UNITS: PERCENT AFFORDABLE: 100% - THRESHOLD CRITERIA BUILDING TYPE: (single-family, townhouse, walk-up, elevator) NEW CONSTRUCTION or REHAB: NEW CONSTRUCTION – THRESHOLD CRITERIA PROJECT TYPE: (Family, Senior, Transitional, Permanent Supportive) INCOME RESTICTIONS: include all that apply (ELI, LIHTC, other.) AFFORDABILITY TERM: AMENITIES: ZONING OBTAINED (yes or no): YES – THRESHOLD CRITERIA NON-RESIDENTIAL UNITS (yes or no): Please attach evidence of zoning as Attachment B ---PAGE BREAK--- B.2 Unit Mix Please detail the following: PROJECT Bedrooms Total Units Proposed PBV Units Breakdown of Income Restrictions Studio 1 BD 2 BD 3 BD 4+ BD Total B.3 Utilities Please select all applicable utilities that will be paid by the owner and indicate if they are gas or electric: BUILDING - Please Circle Electric Owner Tenant NA Gas Electric Gas Owner Tenant NA Gas Electric Heat Owner Tenant NA Gas Electric Hot Water Owner Tenant NA Gas Electric Cooking Owner Tenant NA Gas Electric Garbage Owner Tenant NA Gas Electric Sewer Owner Tenant NA Gas Electric Other: Owner Tenant NA Gas Electric Other: Owner Tenant NA Gas Electric UNITS - Please Circle Electric Owner Tenant NA Gas Electric Gas Owner Tenant NA Gas Electric Heat Owner Tenant NA Gas Electric Hot Water Owner Tenant NA Gas Electric Cooking Owner Tenant NA Gas Electric Garbage Owner Tenant NA Gas Electric Sewer Owner Tenant NA Gas Electric Other: Owner Tenant NA Gas Electric Other: Owner Tenant NA Gas Electric ESTIMATED UTILITY ALLOWANCE Bedrooms: 0 1 2 3 Heat NA $ NA $ NA $ NA $ Hot Water NA $ NA $ NA $ NA $ Cooking NA $ NA $ NA $ NA $ Garbage NA $ NA $ NA $ NA $ Sewer NA $ NA $ NA $ NA $ ---PAGE BREAK--- Other: NA $ NA $ NA $ NA $ Other: NA $ NA $ NA $ NA $ TOTAL: $ $ $ $ B.4 Accessible Units Please identify ADA Compliant Units/Handicapped Accessible Units PROJECT Bedrooms Total ADA PBV (Yes or No) If no, detail income restriction (if any): Studio 1 BD 2 BD 3 BD 4+ BD Total B.5 Neighborhood Amenities Please list all neighborhood amenities less than 1 mile distance from the proposed project to any or all of the following categories: NEIGHBORHOOD AMENITIES Category Name Address Distance Grocery Store: Pharmacy: School: Hospital or Urgent Care Center: Public Transit: Rail Public Transit: Bus Public Park: Retail: (min of 3) Restaurants/Bars/Breweries: (min of 2) Applicants can use the same facility for multiple categories: e.g. a grocery store that has a pharmacy attached can be counted in the category of Grocery Store and Pharmacy. ---PAGE BREAK--- B.6 Building Amenities Please list all of the planned amenities, resources, or services that will be available to all residents, provided by the building. BUILDING AMENITIES Amenity Description B.7. Supportive Services In the space below- please describe the project’s Supportive Service Program (if applicable). Program need only be available to residents of the proposed voucher units. ---PAGE BREAK--- B.8. Development Timeline Please Complete the following Development Plan. For items that are pending, please include and anticipated conclusion date: Development Plan Action Item Status Date Anticipated Acquisition: Zoning Approval: Site Plan Approval: All Sources Fully Committed: ER: Council Approval: Construction Closing Construction Completion Conversion: Lease-Up: Stabilized Year 1: If further explanation is needed, please provide it below: ---PAGE BREAK--- C. DEVELOPMENT TEAM C.1 Proposed Development Team Development Team Please complete. Please disclose any affiliations between the Developer and Development Team member, or any affiliations between members. If a member of the team has not yet been filled, please write “Not Yet Selected” in the first line of each box. Please attached resumes for the Principals of the proposed team members as Attachment C. PROJECT ARCHITECT: AFFILIATATIONS : PRINCIPLAL: PREVIOUS EXPERIENCE: Project/Year Completed: Units: % Aff.: State: Project 1 Project 2 Project 3 PROJECT ENGINEER: AFFILIATIONS: PRINCIPLAL: PREVIOUS EXPERIENCE: Project/Year Completed: Units: % Aff.: State: Project 1 Project 2 Project 3 GENERAL CONTRACTOR: AFFILIATATIONS: PRINCIPLAL: PREVIOUS EXPERIENCE: Project/Year: Units: % Aff.: State: TDC: Project 1 Project 2 Project 3 PROPERTY MANAGER: AFFILIATIONS: PREVIOUS EXPERIENCE: Project/Years Managed: Units: % Aff.: Restriction Type: Project 1 Project 2 Project 3 CONSULTANT: AFFILIATATIONS: PRINCIPLAL: PREVIOUS EXPERIENCE: Project/Year: Units: % Aff.: State: Project 1 Project 2 ---PAGE BREAK--- Project 3 CONSULTANT: AFFILIATATIONS: PRINCIPLAL: PREVIOUS EXPERIENCE: Project/Year: Units: % Aff.: State: Project 1 Project 2 Project 3 LEGAL: AFFILIATATIONS: PRINCIPLAL: PREVIOUS EXPERIENCE: Project/Year: Units: % Aff.: State: Project 1 Project 2 Project 3 Please list all MBE/WBE Development Team Members: 1. 2. 3. 4. D. DEVELOPER EXPERIENCE List at least three affordable residential new construction projects the Applicant has built within the past five years. 1. PROJECT NAME: PROJECT ADDRESS: TOTAL DEVELOPMENT COST: TOTAL UNITS: % AFFORDABLE UNITS: INCOME RESTRICTIONS: BUILDING TYPE: PROJECT TYPE: FINANCING SOURCES: AMOUNTS: ---PAGE BREAK--- CLOSING DATE: COMPLETEION DATE: GC NAME: 2. PROJECT NAME: PROJECT ADDRESS: TOTAL DEVELOPMENT COST: TOTAL UNITS: % AFFORDABLE UNITS: INCOME RESTRICTIONS: BUILDING TYPE: PROJECT TYPE: FINANCING SOURCES: AMOUNTS: CLOSING DATE: COMPLETEION DATE: GC NAME: 3. PROJECT NAME: PROJECT ADDRESS: TOTAL DEVELOPMENT COST: TOTAL UNITS: % AFFORDABLE UNITS: INCOME RESTRICTIONS: BUILDING TYPE: PROJECT TYPE: FINANCING SOURCES: AMOUNTS: CLOSING DATE: COMPLETEION DATE: GC NAME: ---PAGE BREAK--- 4. Optional PROJECT NAME: PROJECT ADDRESS: TOTAL DEVELOPMENT COST: TOTAL UNITS: % AFFORDABLE UNITS: INCOME RESTRICTIONS: BUILDING TYPE: PROJECT TYPE: FINANCING SOURCES: AMOUNTS: CLOSING DATE: COMPLETEION DATE: GC NAME: 5. Optional PROJECT NAME: PROJECT ADDRESS: TOTAL DEVELOPMENT COST: TOTAL UNITS: % AFFORDABLE UNITS: INCOME RESTRICTIONS: BUILDING TYPE: PROJECT TYPE: FINANCING SOURCES: AMOUNTS: CLOSING DATE: COMPLETEION DATE: GC NAME: ---PAGE BREAK--- D.2. HUD/FHA Housing Programs Describe your experience (if any) with HUD/FHA housing programs. Property Name/Address Program Units Managed E. Financial Information Please provide a detailed Development pro forma as Attachment D which includes the following: • Rental Unit Mix with targeted income levels, proposed rents, voucher rents, and any non- residential income the project is expected to generate • Detailed Development Uses including Developer Fees, Capitalized Ground Lease Payments, Reserves, and any repayment of existing debt • Project Sources including all debt and equity assumptions and terms for all listed Sources • Breakdown of Year 1 rental revenues and operating expenses • 20-Year operating pro forma, including all anticipated repayment of deferred developer fee, debt, and distribution of residual cashflow to the all parties in the partnership • Construction Draw Schedule Applicants may be asked to provide additional explanations and breakdowns of pro forma line items during the review process. The AHA may also request a pro forma in Excel format. E.1. Project Income Please detail the following for Year 1: Bedrooms Total Units Total PBVs PBV Rent % FMR Non-PBV Rent Total Annual Rent Income Restrictions* Studio 1 BD 2 BD 3 BD 4+ BD Total Total Annual Non-Residential Income Total Gross Income Total Net Income (assuming vacancies) *On non-PBV Units ---PAGE BREAK--- E.2. Project Expenses Please detail the following for Year 1. Expense: Expected Cost: Property Management: Administration: Tenant Services: Maintenance: Utilities: Reserves: Other: Other: Total: E.3. Project Sources Please list all project Sources: Source: Amount: Terms: Committed? Total: Please attach documentation for all committed or conditionally committed sources, and LOIs for private debt and equity sources that have not been committed as Attachment E. E.4 Project Uses Please summarize your Project Uses Acquisition: $ Construction Costs: $ A&E: $ Environmental Reporting: $ Impact and Local Fees: $ Financing Fees: $ LIHTC Fees: $ Legal Fees: $ Consulting Fees: $ Taxes: $ Insurance: $ ---PAGE BREAK--- Other: $ Other: $ Other: $ Other: $ Developer Fee: $ Reserves: $ Total Development Cost: $ E.5. Encumbrances or Predevelopment Loans Please list any liens or other encumbrances on the property and explain if they will be forgiven, transferred to the redeveloped property, restructured, or will be repaid from project sources or by another party. ---PAGE BREAK--- EXHIBIT 1. FORM OF PROPOSAL All proposals should be emailed to Samantha Bradley [EMAIL REDACTED]. by or before the due date of June 17, 2024. Late submissions will not be accepted. Email submission should be formatted as follows: Subject Line: PBV NEW CONSTRUCTION: DEVELOPER NAME / PROJECT NAME Application should be broken into three* files labeled as follows: PBV Application_Developer Name_Project Name PBV Attachments_Developer Name_Project Name PBV Certifications_Developer Name_Project Name APPLICATION Completed Application ATTACHMENTS Attachment A – Organizational Chart Attachment B – Zoning Evidence Attachment C – Resumes for Development Team Attachment D – Proforma Attachment E – Financial Source Documentation CERTIFICATIONS Relocation Certification Certification of payments to influence federal transactions Certification of Compliance with Uniform Relocation Act Certification of Federal Requirements General Contractor Certification Multi-phase Certification DRAWINGS* If available, please provide preliminary Construction Drawings, preliminary estimate of construction cost and preliminary schedule as PBV Drawings_Developer Name_Project Name ---PAGE BREAK--- EXHIBIT 2. SCORING MATRIX Total Affordable Units (current phase) > 75 25 pts 50-74 15 pts 30-49 10 pts 0-20 0 pts % At or Below 60% AMI 75% 15 pts 65% 10 pts 50% 5 pts Amenities At least 3 neighborhood amenities from the listed categories AND at least 2 building amenities 10 pts T.O.D. Within 1 mile of an RTD station OR ½ mile of a bus stop 10 pts Special Populations Service Plan for eligible residents 5 pts WBE/MBE At least one primary member of the Development Team: developer, architect, general contractor, engineer, or property management 5 pts Green Design LEED Certified or Equivalent 5 pts State Commitment State Funded Source Committed or Conditionally Committed (Loan, Grant, or PAB if LIHTC) 5 pts Local Commitment City Funded Source Committed or Conditionally Committed (Loan, Grant, or PAB if LIHTC) 10 pts Shovel-Readiness Project can demonstrate a Construction Closing Timeline for 2024 – additional materials may be requested 10 pts TOTAL (100 MAX) BONUS POINTS – Scored ONLY in the event tie High-Density Over 150 Affordable Units proposed 1 pt PAB Not LIHTC or, if using LIHTC, Project has been awarded some PAB, but need not have the full balance 1 pt Long-Term Affordability More than 30-year commitment to affordability restrictions 1 pt ---PAGE BREAK--- CERTIFICATIONS The Developer/Applicant Certifies that: The date and exhibits contained in this application and proposal are true, correct, and complete; and Applicant/Developer Signature Date All applications must include the following attachments: Management Plan Certification of Payments to Influence Federal Transactions Certification of Participation in the Low-Income Housing Tax Credit Program (if applicable) Certification of owner’s intention to comply with Title VI of the Civil Rights Act of 1966, Title VIII of the Civil Rights Act of 1968, E.O. 11063, E.O.11246, Section 3 of the Housing and Urban development Act of 1968 (Equal Opportunity requirements) and all applicable Federal requirements listed in 24CFR 983.11; Contractor Certification Regarding Debarment and Suspension ---PAGE BREAK---