Public Notice for CPD Request for Proposals
Nov 14th, 2011
Posted in: Public NoticePUBLIC NOTICE
CITY OF MOBILE
COMMUNITY PLANNING AND DEVELOPMENT (CPD) DEPARTMENT
NEIGHBORHOOD REVITALIZATION REVOLVING LOAN FUND
NOTICE OF FUNDING AVAILBILITY FOR AFFORDABLE HOUSING PROJECTS
Request for Proposals
The City of Mobile seeks applicants for funding under the Neighborhood Revitalization Loan Fund. The Loan Fund will be administered by the City in partnership with selected financial institutions to provide construction loan to Developers and /or potential homebuyers seeking to acquire and renovate blighted residential properties for homeownership-sale or occupation in Target Neighborhoods–District 2. Completed properties will be affordable to low- moderate income individuals and households with income at or below 80% of Mobile’s Area Median Income based on HUD Income Limits.
The 2009 Action Plan allocated $586,000 in CDBG for revolving loan fund from the U.S. Department of Housing and Urban Development. Loan fund may not exceed $50,000 per residential unit. The City anticipates allocating funding for 12 projects. Applicants are encouraged to use CDBG funds to leverage financing from other sources.
The City intends to attract proposals that will create impact, cost effective, project ready (completed within 24 months) of fund commitment, and leverage additional funding from public and private sources.
The Loan Program Policies, Procedures and Application materials are available on the City's website at www.cityofmobile.org by Tuesday, November 15, 2011. You can also call (251) 208-6290 or visit the City's Community Planning and Development Department at 205 Government Street, South Tower, 5th Floor, Room 508. Email Jelili@cityofmobile.org or call (251) 208-7631 with questions regarding the application.
Completed applications will be accepted until Friday December 9, 2011 at 4:00 P.M.
Applications must be submitted in accordance with the Loan Program Policies and Procedures.
Application Workshop will be held on Thursday, November 17, 2011 at 6:00 pm in the Thomas Sullivan Community Center 351 Catherine Street, Mobile, AL 36603. The application will be discussed in detail, and potential applicants will have the opportunity to ask specific questions about a proposed project, application, project selection process and funding requirements.
If you have any questions or require special accommodations, please contact Karen Hansberry at (251) 208-6290 or at Karen.Hansberry@cityofmobile.org.