Questions and inquiries will be accepted from all interested parties until Monday, August 2, 2021 at 5:00 p.m. EST. No responses will be provided for questions and inquiries received after this time. Answers to questions will be provided by Thursday, August 5, 2021 at 5:00 pm EST. All questions from interested parties will be posted to this webpage.
Question 1: The RFQ proposes affordable housing with a LDA finalized by 11.1.21 and construction commencing by year end. Just wondering if there’s an expected path to securing financing in that timeframe. (i.e. Are there particular affordable housing funding opportunities that will be available at necessary levels such as BURA HOME funds?)
Answer: The Mayor's Office of Strategic Planning (OSP) has committed to commencing all applicable regulatory steps, including but not limited to legal, Real Estate Disposition, HUD/URA, environmental, planning and preservation, necessary to keep HOME Funding available as a redevelopment source.
Question 2: If historic tax credit equity could be a funding source, would the construction period be able to be delayed as needed to obtain historic tax credit application approvals that are typically needed prior to construction start (i.e. SHPO and NPS part 1 and part 2 approvals)?
Answer: OSP is looking for a quick turn around in terms of construction commencement. However, if the selected developer needs to pursue historic tax credit application approvals and is not substantially altering the building, there can be room for this in the construction schedule.