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Community Development

2024 Affordable Housing Fund-Tax Credits RFP

Purpose

The City of Madison Community Development Division (CDD) is offering gap financing for development proposals from qualified development teams seeking WHEDA Low Income Housing Tax Credits to accomplish the following three objectives:

  1. Increase the supply of safe, quality, affordable rental housing, especially units affordable to households with incomes at or below 30% of area median income, to ensure long-term affordability and sustainability.
  2. Preserve existing income- and rent-restricted rental housing to ensure long-term affordability and sustainability.
  3. Improve the existing rental housing stock through acquisition/rehab to create long-term affordability and sustainability.

Process Overview

  1. Review RFP Guidelines and Resources

    Please read the Guidelines carefully and before completing your Rental Housing Development Application.  The targeted area map and contract requirements are included for your information.

  2. Pre-Application Process

    Applicants are required to contact Community Development Division staff no later than July 22, 2024.

    To discuss your project, please contact Julie Spears, Community Development Specialist at jspears@cityofmadison.com.

    CDD will coordinate a pre-application meeting with staff from the Planning and Zoning Divisions to discuss site selection, zoning and the land use approval process. When scheduling these meetings, please indicate that the meeting will be about a proposed project applying through the AHF-TC RFP.

    Please see Section 2.1 in the RFP for more information regarding the pre-application process for housing development proposals.

    Applicants are strongly encouraged to make Pre-Application contacts as soon as feasible in advance of the AHF-TC Application deadline and are required to do so by July 22, 2024. When scheduling these meetings, please indicate that the meeting is regarding a proposed AHF-TC RFP project.

  3. Attend or Watch Workshop

    The City will hold a workshop over Zoom on July 10 at 9:30am for applicants interested in responding to this RFP.  Please register here in advance. The workshop will provide an overview of the RFP, requirements and preferences and what characterizes a successful application, with special attention to Integrated Supportive Housing and Tenant Selection Standards.   City Planning and Zoning staff will outline the Land Use Application process, customized for this RFP. Focus on Energy staff will present its new Energy Efficiency Design Express program. Panel members can address questions that interested applicants may have regarding the RFP or the application. The workshop will be recorded and posted here to follow.

  4. Review the Timeline

    Please keep these important dates in mind when preparing to submit your application.

    • July 1, 2024: Release of RFP
    • July 10, 2024 at 9:30 am: RFP Application Workshop (Register for the Workshop)
    • July 22, 2024: Deadline for Initial Staff Contact
    • August 1, 2024 at 12:00 pm CST: Deadline for Submission of Proposals
    • August 8, 2024: Deadline to Contact Common Council Office to Schedule Neighborhood Meeting
    • August 19, 2024 (week of): CDD Sends Request for Supplemental Application Information
    • August 29, 2024: Development Assistance Team and Neighborhood Meeting Deadlines
    • September 3, 2024: Applicants to Submit Supplemental Application and Focus on Energy Bundle Requirements Document
    • September 9, 2024 (week of): Applicant Presentations to Staff
    • September 12, 2024: Applicant Presentations to CDBG Committee
    • October 7, 2024: Land Use Application Deadline for Projects Requiring a Zoning Map Amendment or Urban Design Commission Action 
    • October 29, 2024: Introduction to Common Council
    • November 4, 2024: Land Use Application Deadline for Projects Not Requiring a Zoning Map Amendment
    • November 7, 2024: CDBG Committee - Staff Recommendations
    • November 18, 2024: Finance Committee Consideration
    • November 26, 2024: Common Council Approval
    • October 2024 – January 2025: Commitment Letter (Notification of Award) and Term Sheet Development
    • January/Spring 2025: Full WHEDA Application Deadline (TBD)
    • Late 2025 - Mid 2026: Anticipated Contract Effective Date(s) / Start of Construction

    Please note: These dates are for planning purposes.  They represent the City's desired timeline for implementing this project. Any revision to the Due Date for submission of proposals will be made by addendum. All other dates may be adjusted without notice, as needs and circumstances dictate.

  5. Fill out and Submit the Application

    Applications MUST be received on our office by 12:00 pm CST (noon) on August 1, 2024.

    Proposals must be submitted to: CDDapplications@cityofmadison.com

    All proposals must be submitted electronically. 

    Please submit only the required documents listed below and any additional required materials listed in Section 2.5 of the RFP and/or the Application checklist on the last page of the Application.  

    1. Application
    2. Budget Workbook 

    Applications time stamped received after 12:00 pm will not be considered, NO EXCEPTIONS!

    You will receive a confirmation email once you have submitted your application(s). These email notifications are not auto generated so allow some time for a person to receive and process your application. If you do not receive a notification within 2 hours, it means that your application did not get delivered.

  6. Submitted Applications Summary

    Submitted Applications Summary 

    The following applications will be considered for funding:
    EC Residential, LLC/Mandel
    Horizon Development Group, Inc.
    Madison Revitalization and Community Dev Corp.
    Northpointe Development (Merchant Place Senior Apts)
    Northpointe Development (United Residences)
    Preservation Housing Partners
    PreservingUS, Inc.
    Volker Development Inc.

    MSP   (Withdrawn)

  7. Funding Award Recommendations

    Funding Award Recommendations – Published November

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