Affordable Housing Preservation Program Funding
City of East Palo Alto
Original Solicitation Links
Contact
Submission Instructions
Description
The City of East Palo Alto Affordable Housing Preservation Program provides $2,099,044 in available funding—$2,050,000 in Housing In-Lieu Funds and $49,043.52 in County of San Mateo Equity Innovation Funds—for projects that acquire and rehabilitate existing single-family or multifamily properties, convert market-rate housing to deed-restricted affordable housing, extend affordability restrictions, or create resident-controlled housing. Eligible projects must serve lower-income households, generally at or below 80% of Area Median Income, and may include rental, homeownership, cooperative, condominium, or community land trust models. Eligible costs include acquisition, rehabilitation, hard and soft costs, developer fees, reserves, and related housing costs. Applicants must meet organizational, site-control, experience, financing-gap, affordability, and other threshold requirements. Applications must include a cover letter, project and applicant narratives, organizational and financial documentation, property and financing information, budgets, certifications, and other materials identified in the guidelines. Applications are accepted on an ongoing, over-the-counter basis until funds are expended; hard copies are not accepted.
Classification Codes
Smart Codes
Specifications
Timeline
Requirements
- Commercial General Liability — $1,000,000.00
- Automobile Liability — $1,000,000.00
- Workers' Compensation and Employer's Liability
- Property Coverage
Location
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