The County of Volusia, Office of Recovery and Resiliency, is soliciting proposals for gap funding loans to support the development of affordable, multi-family housing projects or Permanent Supportive Housing (PSH) for the Multifamily New Construction Program supported by the U.S. Dept. of Housing and Urban Development (“HUD”), utilizing funding from sources such as Community Development Block Grant – Disaster Recovery (CDBG-DR). For the purposes of CDBG-DR funds, multifamily housing is defined as five (5) or more units per structure. The projects must be located in the County of Volusia, be CDBG-DR eligible and meet a national objective. The allowable national objectives for the multifamily new construction program activities will be direct benefit to the low-to-moderate income community, and urgent need. The County has CDBG-DR program funds available.

This Request for Proposals (RFP) seeks to address the loss of housing stock in Volusia County as a result of extensive damage caused by Hurricane Ian. Public Housing Authorities (PHA), for-profit, and not-for-profit housing developers are encouraged to participate. The available funding must be used as gap funding for larger multifamily developments that have or are expected to have other affordable housing funding sources or significant leveraged private funding.

Eligible proposals requesting multifamily development funds must ensure that a minimum of fifty-one percent (51%) of the rental housing units are occupied by households with eighty percent (80%) Area Medium Income or less. Project proposals can include units that are not affordable housing as long as the minimum percent of affordability is met. All affordable units must be for households at or below eighty percent (80%) of the AMI while meeting specific set-aside commitments indicated in this RFP. The maximum funding request for multi-family development by unit type are $60,000 per unit for PHA, $35,000 per unit for non-PHA, and $75,000 for permanent supportive housing. The county may exceed the maximum award per project type on a case-by-case basis if it is determined to serve the best interests of the applicant and the program. The program has a budget of $50 Million for multifamily housing. The county anticipates conducting multiple award rounds, as a result of this or subsequent RFPs, over the life of the grant to support various community providers with different project lifecycles.

There is no minimum number of units required for proposals seeking funding for PSH only. All PSH units must be for households that meet CDBG-DR specific requirements indicated in this RFP. The maximum funding request per unit for PSH is $75,000 per unit.

The awards shall be structured in the form of thirty (30) year deferred, forgivable loans with zero percent (0%) interest. The loan awards will be contingent upon the applicant’s project being fully funded by all other sources being pursued. Volusia County, in its sole discretion, may choose to award funds to one applicant, multiple applicants, provide funding to none of the applicants, or request additional information or documentation prior to making an award. Applicants who propose one hundred percent (100%) repayment of CDBG-DR funds within the affordability period will receive priority.

The approval of the eligible affordable housing project shall be approved by the Volusia County Council. The Volusia County Council shall also approve the written development agreement and related loan documents for any eligible project that is awarded. Important Note: Any funds expended by the applicant prior to executing the written rental developer agreement and related loan documents will NOT be eligible for reimbursement.

The County of Volusia, Office of Recovery and Resiliency, administers funding for affordable housing repair and replacement due to damage from Hurricane Ian. Funds for this program are provided by the U.S. Department of Housing and Urban Development (HUD) including Community Development Block Grant - Disaster Recovery (CDBG-DR).  When engaged in such projects for its multifamily new construction program, Recovery and Resiliency intends to be the last funding available. Public Housing Authorities (PHA), for-profit, and non-profit developers will need to have significant leveraged resources to participate in this program, allowing the county to maximize the impact of the federal investment.