The City of Fremont (City) is announcing a Notice of Funding Availability
(NOFA) for the creation of affordable rental housing in Fremont.
Approximately $8.0 million in funding is available to support predevelopment, acquisition and construction or rehabilitation of affordable housing. The funding is intended to fill the financing gap between a project’s total development cost and other available financing sources.
The funding available through this NOFA is for capital costs only; no financing is available to fund operating subsidies or supportive services. It should be noted that if additional housing funds become available to the City during the NOFA evaluation process, the amount awarded through this NOFA may also increase.
Qualified affordable housing developers that can meet the NOFA requirements
and demonstrate their ability to finance, design, build/rehabilitate and manage affordable housing are encouraged to submit proposals. All proposals must be received by February 13, 2015. Applications submitted after the deadline will not be considered. Funding will be awarded by the City on a competitive basis to the project or projects that provide the best opportunity to address the City’s affordable housing needs.
The City reserves the right to request that Applicants submit additional information as may be requested by staff to clarify submitted information. Also, the City reserves the right to reject any and all proposals for any reason, and at its sole discretion.