The City of San Jose Housing Department (CSJHD) invites qualified applicants to submit written proposals for new affordable multifamily rental housing projects that will provide housing for extremely low-, very low-, and low- income individuals and families, with 40% of the funding prioritized for ELI housing. CSJHD is providing gap financing for multifamily affordable housing, including supportive housing, located within the specified Expansion Areas identified in Section 3.4 - Affordable Housing Siting Policy Categories of the NOFA. The funding sources used for these NOFA Awards will include Low and Moderate Income Housing Asset Fund, Affordable Housing Impact Fees, Inclusionary Housing Ordinance In-Lieu Fees, HOME, and Measure E. CSJHD is making available $50,000,000 for gap financing for multifamily affordable rental housing projects that meet basic threshold criteria. Only new construction projects will be awarded funding under this NOFA. Funding will be provided in the form of a loan for construction and permanent financing, which may also include acquisition costs. CSJHD will provide low-interest rate loans to eligible projects. The construction and permanent loan amount, which includes both construction and permanent and acquisition loans, for any project will range from $200,000 to $325,000 per eligible unit depending on criteria and based on Siting Policy Category.
ELECTRONIC SUBMISSION:
Any questions regarding how to register with Biddingo or how to submit a response to this solicitation should be directed to Biddingo at (800) 208-1290 or by email to info@biddingo.com. For any questions regarding this NOFA, please email mark.gerhardt@sanjoseca.gov and reference NOFA CSJ HSG 10-10-2023 in the subject line of the email before Tuesday, October 31, 2023, 3:00 PM PST. The City will not respond to questions submitted in any other manner or format. Questions and comments received after the deadline may not be acknowledged.
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