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City of Crescent City·California

Proposals for Permanent Local Housing Allocation Funding of 2019-23 Five Year Plan

Closes 5/26/2023$100k – $300kRequest for Proposal
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Description

The City of Crescent City is issuing an RFP to solicit proposals from qualified affordable‑housing developers and nonprofit organizations to deploy Permanent Local Housing Allocation (PLHA) funds toward new or rehabilitated rental housing for households earning up to 60 % of Area Median Income. Applicants must submit a detailed project narrative, financial plan, unit‑mix, and compliance documentation, and the award will be a zero‑interest, ten‑year deferred loan (potentially forgivable) with a total maximum funding pool of $331,343 (plus a possible $129,495 supplemental amount). The evaluation is points‑based, rewarding projects that deliver the most affordable units, demonstrate strong experience, and meet deep‑targeting goals. Proposals are due May 26, 2023; interviews may be held in early June; the contract is expected to be presented to City Council by June 19, 2023, with work required to start within 60 days of contract execution. • Eligible activities include land acquisition, design, permitting, construction, financing costs, and soft‑costs. • Funding is provided as a loan, not a grant, and must be expended by April 30 of each allocation year. • The City will award based on a 105‑point scoring rubric (understanding, experience, number of affordable units, budget/financing plan, and a deep‑targeting bonus).

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Bridget Lacey(Grants and Economic Development Coordinator)

[email protected]

(707) 458-4814

Key dates

Opened
5/3/2023
Questions due
5/8/2023
Closes
5/26/2023
Projected award
6/19/2023

Last updated

Details

Type
Request for Proposal
Industry
Property Development
NAICS
531311
Solicitation №
PLHA 2023-1

Budget estimate

$100,000 – $300,000

The RFP caps total PLHA funding at $331,343 (with a possible supplemental $129,495). Assuming the vendor is the project developer, earnings would derive from developer fees, profit margins, and any additional financing they secure. Typical developer fees for affordable‑housing projects range from 5‑10 % of total project cost, and profit margins can add another 5‑15 %. For a $331k funded project, a realistic net return could be between $100k and $300k, depending on leverage, additional private equity, and the scope of ancillary services the vendor provides (e.g., design, consulting). Therefore, a low‑end estimate of $100,000 and a high‑end estimate of $300,000 are reasonable.

AI estimate from the solicitation

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