- Country: USA
- Summary: County Owned Land for the Development of Affordable Housing
- UST Ref No: 116218338
- Deadline: 16 Apr 2025
- Financier: Self Financed
- Purchaser Ownership: Government
- Tender Value: Refer Document
- Notice Type: Tender
- Document Ref. No.: 25-P-73MC
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- Description:
- The County of Volusia is seeking to donate county-owned land to a non-profit organization. In exchange for the land, the applicant/developer shall construct new affordable housing units and shall provide documentation of occupancy within (48) months of the date of the execution of a written agreement in a form provided by the County. All units developed on the county-owned land donated as a result of this RFP must be rented or sold to households at or below 120% of the area median income (AMI) based on the Florida Housing Finance Corporation (FHFC) State Housing Initiative Program (SHIP) income limits that are in effect at the time of the lease or sale, current income limits are shown in Attachment A for reference. The goal of this RFP is to create units that benefit a variety of income levels at or below 120% AMI, but at least 51% of the units must benefit those that are at or below 80% AMI.If rental units are constructed, the rent charged must comply with FHFC-s SHIP rent limits in effective at the time of the lease, current limits are shown in Attachment A. Households who receive Section 8 assistance will be eligible to apply for developed rental units. If the affordable housing units are sold, the purchase price may not exceed the Volusia County-s SHIP maximum sales price in effect at the time of sale. Households buying a unit must have a front-end ratio between 22%-30%. An exception may be made for the front-end ratio to not exceed 35%, if permitted and documented by the first mortgage(s) holder(s), while the back-end ratio cannot exceed 50%.The affordable housing project will be subject to continuing affordability restrictions through an established “period of affordability” during which the property must remain affordable for a period of 50 years (i.e., income and rents must be restricted according to published SHIP limits) as defined by the program. The affordability restrictions will be enforced through a written agreement and a recorded declaration of cove...
- Documents:
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CLICK HERE TO LOGINCounty Owned Land for the Development of Affordable Housing - USA Tender
The COMMUNITY ASSISTANCE, a Government sector organization in USA, has announced a new tender for County Owned Land for the Development of Affordable Housing. This tender is published on USARFP under UST Ref No: 116218338 and is categorized as a Tender. Interested and eligible suppliers are invited to participate by reviewing the tender documents and submitting their bids before the deadline on 2025-04-16.
The estimated tender value is Refer Document, and full details, including technical specifications and submission requirements, are provided in the official tender documents. Ensure all submissions meet the criteria outlined to be considered for evaluation.
