Pacifico Affordable Housing Development
City of Davis > City Manager's Office
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Submission Instructions
Description
The City seeks proposals from qualified affordable housing developers and operators for its existing 1.53-acre, four-building Pacifico property, which has 112 beds across 96 rooms. Proposals may include leasing or purchasing the site, rehabilitating the existing structures, or demolishing them and constructing new housing. Each proposal must include a plan to manage the property and replace the existing affordable beds, with a feasible financial strategy that identifies anticipated funding sources and any requested City assistance. Submissions must describe the proposed development and its design, affordability levels, financing, financial capacity, and lease or purchase offer. They must include a project pro forma in PDF and unlocked Microsoft Excel formats, including construction and permanent sources and uses, a development budget, loan sizing, a 30-year cash-flow projection, and tax-credit projections. The proposal must also document the developer team's qualifications and relevant experience. The City expects affordable multifamily rental housing and requires the selected project to maintain affordable use under a regulatory agreement.
Classification Codes
Smart Codes
Specifications
Timeline
Requirements
- Minimum 2 references
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