Title
Approval of 2021 Home Fund Construction Request for Proposals
Recommended Action
Move to approve the 2021 Home Fund Request for Proposal process and direct staff to solicit applications for the 2021 funding round.
Report
Issue:
Review, discuss and authorize staff to proceed with finalization of the 2021 Request for Proposals process for Home Fund affordable housing construction grants.
Staff Contact:
Cary Retlin, Home Fund Manager, Executive, 360.790.1986.
Presenter(s):
Cary Retlin, City of Olympia
Background and Analysis:
This funding round will be the third for the Olympia Home Fund. In 2019 Council set the goal of using the Home Fund to support the construction of 300 units of supportive housing in five years. In the Home Fund's first two years this Board has overseen funding two projects that will contribute 128 units toward the 300 goal. That is exciting progress that is unlikely to be sustained. Construction dollars (primarily through tax credits) and operational funding (like project-based housing vouchers) will limit the amount of supportive housing units that can be built and supported in future years.
This year's scoring criteria and application is generally similar to the 2020 Request for Proposal (RFP) documents (staff made minor changes to the application but did not change the scoring criteria). Last year Home Fund began requiring that applicants use the state's Combined Funder Application Spreadsheet since applicants provided inconsistent budget information when you reviewed applications in 2019.
There are two projects listed on the Thurston County Pipeline that were mentioned at the October meeting that could apply these funds and plan to provide permanent supportive housing: Martin Way Phase II and La Mancha. Projects are not required to be in the pipeline to apply for Home Funds, so it is possible that other affordable housing developments not on that list may also apply.
Staff will post this RFP on the city website and will...
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