Affordable Homeownership Revolving Fund Administration
State of Washington > Washington State Housing Finance Commission
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Contact
Submission Instructions
Description
The Washington State Housing Finance Commission seeks one or more qualified Community Development Financial Institutions or similarly mission-aligned financial intermediaries to establish and administer the Affordable Homeownership Revolving Construction Catalyst Fund. The proposed fund is expected to be capitalized with approximately $10 million and will provide flexible predevelopment, site preparation, infrastructure, acquisition, development, and construction financing to eligible nonprofit homeownership developers. The selected contractor will serve as fund administrator and lender, developing underwriting and servicing policies, originating and monitoring loans, maintaining financial controls and reporting systems, recycling repayments into new projects, providing borrower technical assistance, and pursuing supplemental public, private, philanthropic, and impact-investment capital. Funded projects must use 2D panelized or 3D modular construction and support long-term affordable, shared-equity homeownership. Proposers must demonstrate CDFI or comparable lending authority, at least five years of relevant loan-fund or construction-lending experience, affordable-housing experience, and statewide operating capacity.
Classification Codes
Smart Codes
Specifications
Timeline
Join ZoomRequirements
- Commercial General Liability — $1,000,000.00
- Automobile Liability — $1,000,000.00
- Professional Liability/Errors and Omissions — $1,000,000.00
- Fidelity Insurance — $100,000.00
- Minimum 3 references
- Within the last 5 years
- Client point of contact required for each reference
Documents
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