Metropolitan Housing Trust Fund Commission
Barnes Fund for Affordable Housing
Fall 2016
Request for Application
Adriane Bond Harris
Office of Economic Opportunity and Empowerment
Senior Advisor – Affordable Housing
Office of the Mayor
100 Metro Courthouse
Nashville, TN 37201
The Metropolitan Housing Trust Fund Commission
The Barnes Fund for Affordable Housing
Purpose
The Nashville Metropolitan Government established the Metropolitan Housing Trust Fund Commission (Commission) in 2013 to develop a housing trust fund to provide a local and flexible method for increasing the supply of affordable housing in Davidson County. The Barnes Fund for Affordable Housing (Barnes Fund) grant program was established to assist non-profit affordable housing developers in providing good quality affordable housing to residents of Davidson County with limited means. The Barnes Fund targets low income households earning less than 80% of the Area Median Income (AMI) adjusted for family size by addressing unmet critical housing needs.
Eligibility
This Request for Proposal (RFP) is open to 501(c)3 non-profit housing developers interested in creating rental or home buyer opportunities for Davidson County’s low income population.. Eligible activities under this RFP include:
· Acquisition and rehabilitation
· Acquisition and new construction
· New construction only
· Acquisition, demolition and new construction
· Rehabilitation Only
· Acquisition Only
All units assisted with Barnes funds must serve persons with income at or below 80% of the AMI adjusted for family size Rental projects must serve persons with income at or below 60% of the AMI. The property must be located within Davidson County Tennessee and the non-profit must have control and management of the project.
Ineligible activities include:
· Mobile Home located on rented lots
· Land acquisition only
· Luxury items such as swimming pools and hot tubs
· Furniture
· Services
· Re-financing only of current debt
Funding
Funding is provided by the Nashville Metropolitan Government. For the fall 2016 funding round approximately $10,000,000.00 is available for eligible projects in Davidson County Tennessee. There is no limit on the amount of funds requested but preference will be given to projects that leverage additional federal and/or private funds. In the event of a tie score and funds are insufficient to fund both projects, the funds will be awarded to the development team that has the greatest number of years’ experience working in the neighborhood of the project submitted.
Properties
Metro back tax properties are available for project donation this funding round. These properties may be requested for the development of rental or home buyer activities. The properties will be deed restricted. Because of the nature of the donated properties, it is important that the nonprofits review the zoning eligibility and conditions of the sites. The nonprofit should also include any legal or title expenses in the development pro forma to ensure the proposed project is developable and buildable.
Funding Request Submittal
An electronic application for funding is available at the Nashville Mayor’s Office website located at www.nashville.gov. To fill out the application electronically you must download the application and save it to the applicant’s computer. Use only the forms and spaces provided on the application. Questions altered or changed will result in the application being deemed ineligible and will not be reviewed for funding.
All applications must be received no later than 12:00 pm, on November 14, 2016. A post mark does not constitute delivery. If you are unable to submit some of your attachments the attachments may be physically submitted but must be received no later than 12:00 pm on November 14, 2016. Applications will be accepted via electronic submission only. Completed applications must be emailed and received by OEOE by 12:00 pm on November 14, 2016. Applications received after this date and time will not be considered. There are no exceptions to this deadline.
Please submit your application to:
Adriane Harris
Senior Advisor – Affordable Housing
Economic Opportunity and Empowerment
Office of the Mayor
100 Metro Courthouse
Nashville, TN 37201
Applications will only be accepted through:
Barnes Housing Trust Fund
2016 Home Buyer Funding Application
Date of Application: Click here to enter a date. Activity: Click here to enter text.
SECTION 1: Applicant Information
Organization: Click here to enter text. / Type of Organization: Choose an item.Contact Person: Click here to enter text. / Tax ID Number: Click here to enter text.
Address: Click here to enter text. / Date Formed: Click here to enter a date.
City: Click here to enter text.
State: Click here to enter text.
Zip Code: Click here to enter text.
Telephone Number: Click here to enter text.
Fax Number: Click here to enter text.
Email Address: Click here to enter text.
SECTION II: Project Information
Project Name Click here to enter text.
Address(es): Click here to enter text.
City: Click here to enter text.
State: Click here to enter text.
Zip Code: Click here to enter text.
Census Tract(s): Click here to enter text.
Type of project: Choose an item.
Do you have site control or already own the property? ☐Yes ☐No
If yes, site control is in the form of: ☐Deed ☐Option
☐Sales Contract ☐Metro Lot ☐ Other
Is the site zoned for the proposed activity? ☐Yes ☐No
If no, attach a brief description of the zone change efforts and the anticipated date of the change. Include any letters of support for the zone change.
Is the proposed site in a floodway? ☐Yes ☐No
Is the property a foreclosure? ☐Yes ☐No
Type of Development (Check all that apply):
☐Town House ☐Single Family Detached ☐Single Family Attached
☐Apartment Style Condo
Is a home buyer education class required? ☐Yes ☐No
Is post purchase education required? ☐Yes ☐No
Is your agency responsible for the pre and post purchase education? ☐Yes ☐No
Are you requesting Barnes funds for education/counseling? ☐Yes ☐No
Are you applying for down payment assistance? ☐Yes ☐No
SECTION III: Building and Neighborhood Information
Number of floors in tallest building: Click here to enter text.
Number of elevators: Click here to enter text.
Are energy efficient measure and/or green building activities proposed? ☐Yes ☐No
Will you use Universal Design principles in your development? ☐Yes ☐No
Will the project serve special needs populations? ☐Yes ☐No
If yes, what percentage of the units will be set aside for the special needs population? Click here to enter text.
Is the project located within the Promise Zone? ☐Yes ☐No
Is the project located within a Tier One Center of the Nashville Next Growth & Preservation Concept Map?
☐Yes ☐No
Is the project located near a major transportation corridor with a public transportation option within ¼ of a mile of the unit?
☐Yes ☐No
Describe the surrounding neighborhood including the types and style of architecture, age of other housing units, height of buildings, size of comparable units and neighborhood characteristics. Limit to the space provided.
SECTION IV: Acquisition, Demolition and/or Rehabilitation Projects Only
The units(s) are? ☐Occupied ☐Vacant ☐Both
If the units are occupied is relocation proposed? ☐Yes ☐No
If yes, include relocation plan as well as the cost and source of fund in the project budget
Were any of the buildings built before 1978? ☐Yes ☐No
If yes, has a lead based paint test been performed? ☐Yes ☐No
Are any other environmental concerns present? ☐Yes ☐No
If yes, what are the concerns? Click here to enter text.
Are any of the buildings a Historic Building? ☐Yes ☐No
Is the project located in a Historic Conservation District? ☐Yes ☐No
If the project involves rehabilitation, do you have work write ups? ☐Yes ☐No
If yes, include work write ups.
SECTION V: New Construction Only
Do you have architectural plans for the project? ☐Yes ☐No
Do you have construction specifications for the project? ☐Yes ☐No
Are utilities available at the proposed site? ☐Yes ☐No
If no, which utilities are not available? ☐Water ☐Gas ☐Sewer
☐Electric
Are you proposing building more than one unit per lot? ☐Yes ☐No
SECTION VI: Home Buyer Information
Describe your typical purchaser and the type of Barnes Fund financial assistance needed to make the unit affordable to the proposed purchaser.
Total number of units for households with incomes:
Click here to enter text.Below 30% of area median income
Click here to enter text.30% to 60% of area median income
Click here to enter text.60% to 80% of area median income
Click here to enter text.Over 80% of area median income
Number of Barnes Fund units for households with incomes:
Click here to enter text.Below 30% of area median income
Click here to enter text.30% to 60% of area median income
Click here to enter text.60% to 80% of area median income
VII: Proposed Units (Include information for each floor plan or rehabilitated unit)
Total Number of Units Proposed: Click here to enter text.
Number of Units by Bedrooms:
One Bedroom Click here to enter text. Three Bedroom Click here to enter text.
Two Bedroom Click here to enter text. Four Bedroom Click here to enter text.
Other (List) Click here to enter text. Click here to enter text.
Unit Size by Number of Bedrooms / Living Area Sq. Feet / Number of Bathrooms / Unit Cost / Unit Selling Price / Monthly Mortgage Payment (PITI)Click here to enter text. / Click here to enter text. / Click here to enter text. / Click here to enter text. / Click here to enter text. / Click here to enter text.
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Using the information from the table above please provide an affordability example for each income range you are proposing to serve. Using the proposed monthly mortgage payment plus the homeowners association fees or condo association fees (if applicable) calculate the percentage of the purchaser’s total gross monthly income. Please include the maximum front end and back end ratios allowed under your proposed program. If proposing down payment assistance please provide information on how that assistance will be secured, minimum and maximum assistance amounts and the method for determining the needed funding amount.
Is a Home Owner Association (HOA) proposed? ☐Yes ☐No
If yes what is the HOA fee? Click here to enter text.
If the proposed project is a condo what is the condo association fee? Click here to enter text.
Have the HOA/Condo fees been included in the affordability calculations? ☐Yes ☐No
If the units have not been pre-sold to a person/family that is pre-approved for a mortgage sufficient to purchase the proposed units, please provide information on how the unit(s) will be marketed. Please include the number of months you anticipate the units will be vacant prior to the home buyer’s loan closing.
SECTION VIII: Funding Sources Information
Total Project Cost: Click here to enter text.
Total Barnes Fund Request: Click here to enter text.
Total Other Fund(s) Amounts: Click here to enter text.
Please enter all funding resources for the development and construction of the units, including any match/leverage and the Barnes Fund Request, for the proposed project. (If applicable)
Funding Source / Amount / Interest Rate / Term in Months / Type of FundsClick here to enter text. / Click here to enter text. / Click here to enter text. / Click here to enter text. / Choose an item.
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Please enter the anticipated unit sales information by proposed floorplan or address (if purchase/rehab).
Floor Plan Letter or Number or Unit Address (if purchase/rehab) / Sales Price / Subsidy Amount / First Mortgage Amount / Interest Rate / Terms in MonthsClick here to enter text. / Click here to enter text. / Click here to enter text. / Click here to enter text. / Click here to enter text. / Click here to enter text.
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IX: Development Subsidy
Briefly describe how the Barnes subsidy will be used to make the units affordable to the potential purchaser. Include how the home buyer subsidy amount will be determined as well as if the subsidy will be a grant, amortizing loan or due on sale loan. Explain your agency’s proposal for maintaining the affordability of the unit for the 20 year affordability period.
X. Barnes Fund Request Summary
New Construction or Purchase and Rehabilitation Cost Request: Click here to enter text.
Down Payment Assistance Request: Click here to enter text.
Developer Fee Request: Click here to enter text.
Operational Support Request: Click here to enter text.
Note: Total amount requested must equal the sum of the three requests listed above.
SECTION XI: Development Team Information
Executive Director: Click here to enter text. Email Address: Click here to enter text.