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克利夫兰及周边地区消息
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Applications open: $34.45 million available
to improve Cleveland’s housing inventory
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Applications open: $34.45 million available to
improve Cleveland’s housing inventory through affordable and market
rate development January 31, 2023 — Cleveland |
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In October
2022, Cleveland City Council passed legislation (Ord. No. 900-2022)
allowing the city to use American Rescue Plan Act (ARPA) investments
for a housing gap financing fund to provide grants and/or equity
stake in projects that incentivize the renovation and construction
of affordable, workforce housing projects, mixed-income, and market
rate projects.
These funds are now available on a competitive basis through a
Department
of Community Development Request for Proposals (RFP) to allocate up
to $34.45 million, including:
· $10 million for Affordable Housing Gap Financing (ARPA restricted)
· $5 million for Market Rate Housing Gap Financing (ARPA/General
fund)
· $13.7 million for 30% AMI Affordable Housing Gap Financing
(HOME-ARP)
· $4 million for Non-Congregate Shelter Gap Financing (HOME-ARP)
· $1.75 million for Single-Family Affordable and Market Rate Housing
(City Bond Funds)
This RFP is only for housing development projects that will invest
in either affordable housing units, market-rate housing units, or a
mix. Submissions will be scored and used to create a slate of
projects to be considered by Cleveland City Council. Only approved
projects will be eligible to apply for these funds.
“We are excited for this opportunity to accept proposals for such a
wide variety of projects that will bring us closer to our vision for
equitable housing across our city,” said Cleveland’s Director of
Community Development Alyssa Hernandez.
Upcoming information sessions will be held on three consecutive
Wednesdays — Feb. 1, 8, and 15 — at 9 a.m. RVSPs (required) and
questions may be submitted at
Department of Community Development ?Info Sessions RSVP & RFP
Question Form (smartsheet.com). |
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