Request for Proposals: ERA2 Predevelopment Program and ERA2 Site Acquisition | Rhode Island Government Bid

Agency:	State Government of Rhode Island
State:	Rhode Island
Type of Government:	State & Local
NAICS Category:	541330 - Engineering Services 541611 - Administrative Management and General Management Consulting Services
Posted Date:	Nov 19, 2024
Due Date:	Nov 18, 2025
Solicitation No:	RFP - ERA2 Predevelopment Program and ERA2 Site Ac
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Contact information:	Please Login to View Page
Bid Documents:	Please Login to View Page

Bid Description
RI Housing and Mortgage Finance Corporation
Bid Number: RFP - ERA2 Predevelopment Program and ERA2 Site Ac

Description

RIHousing announces the availability of funding under the ERA2 Predevelopment

Program (“ERA2-PD”) and ERA2 Site Acquisition Program (“ERA2-SAP”).

The purpose of the ERA2-PD is to provide funding to help qualified developers pay for predevelopment costs associated with the development of deed restricted housing
The purpose of ERA2-SAP is to provide grant funding for the acquisition of properties for future redevelopment of affordable and supportive housing
Both funds can only be used to support the development of housing serving households with incomes below 50% of area median income (“AMI”). For developments with a mix of incomes, the ERA-2 funds may only be used to support the pro rata cost of the 50% AMI component of the project.

In addition, applicants must demonstrate they can close by May 31, 2025

The source for both funds are the ERA2 Supplemental Development Financing Program, an Emergency Rental Assistance Program (“ERAP,” more specifically “ERA2”), which is funded through the American Rescue Plan Act of 2021. All projects are required to comply with federal ERA2 guidance, including Treasury Guidance FAQ #46.

For more information on both programs and to apply, visit www.rihousing.com/rfps-rfqs/.

* Disclaimer: This website provides information about bids, requests for proposals (RFPs), or requests for qualifications (RFQs) for convenience only and does not serve as an official public notice. Individuals who wish to respond to or inquire about bids, RFPs, or RFQs should contact the relevant government department directly.

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Request for Proposals: ERA2 Predevelopment Program and ERA2 Site Acquisition Program

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