RFP- 2026/27 Notice of funding availability for Below Market Rate Housing Funds

The City of Menlo Park is releasing a Notice of Funding Availability (NOFA) for approximately $4 million in below‑market‑rate (BMR) affordable‑housing funds. The opportunity is aimed at developers—non‑profit or for‑profit—who can demonstrate experience in creating or preserving permanent affordable rental or ownership units for households earning ≤ 80 % of area median income. Applicants must meet experience thresholds, submit a detailed application by the deadline, and align projects with city priorities such as long‑term affordability, sustainability, local‑hire, and community amenities. The award will be made competitively by City Council after staff review and Housing Commission recommendation. • Funding for acquisition, preservation, or new construction of permanent affordable housing (≈ $4 M total). • Eligible projects must target extremely low‑, very low‑, or low‑income households and provide at least 55‑year deed restrictions. • Applicants need ≥ 2 years experience with ≥ 2 prior affordable‑housing projects (≥ 10 units each) in the Bay Area. • Applications are due 5 p.m. on Nov 20 2026 via the City’s PlanetBids portal; questions must be submitted by Nov 6 2026.