Agenda - 10-15-2002 - 9a - Laserfiche WebLink

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3 R 0 Orange Established:September 1998 Approved:December 15, 1998 Amended:April 2001 Proposed Reviabn: Ocmber 2002 This uuct w m outlines the policies govttning the expaditare of 2001AUOrdable Housing Bond funds and fiM1mc bond programs. 1. INTRODUCTION Separate Funding POOR Strategy: Separate Request for Proposals(Mal will be named simultaneously for three types of projects: l)homeownership 2)special needs,whether ownership or counsel,and 3)non-special needs rentall cooperative housing.Within each category,no distinction should be made between new construction and rehabilitation.The REP closing dates and award dates said also be the same. 20% of the expected$1.3 million that will be made available m 0e ford round of 2001 bond funding will be designated for We homeownership pool,20%will be designated for the special needs pool,and 40%Will be designated for the non-special nails renmEC0operative housing pool.(The 0nal 20%will be reserved for the land baakNg REP proems.) If Muds for any pool are not fully allocated in the Initial round,an execution perfect of 60 days will be granted for the submission of additional REPS for that specific project type. This extension pain)wi l begin the day following the ROCC's vote on awarding bond funds.During this Mission peri0d new applications will be reetsved; in addition, applicants who did not score the required 60 point;may revise[her api Gallon and reapply during the extension period.U,after this extension period and corresponding footling decisions,there are still Muds remaining W either We Home Ownership Rental, anNor Special Needs goalie),the PRS committee will make a recommendation to the County Manager for The dlapecitlon of remaining funds. Eligible Applicant:Only non-profit attitudes will be eligible to apply for Trading under the County'sbandpmgam. Non-profits may puma with for-profit entities to develop projects, however, in those cases;the non-profit must have the controlling majority in the project (mom than 5T10 interest). Requeal for Proposals:Prospective developers will be ralmrel to submit in apphcafon once the Orange Coumy Depapreent of Housing and Community Development announces a Regan for Proposals.Tic applications will be scored according to the cemblisbed evaluation criteria and targeting goals captained herein. Project Review and Selection: A County Committee will evaluate project proposals and make funding rccovuvrnda[ione to the County Managa. The Project Review sod Selection (FRS) Committee will be composed of up to three members of the Affordable Housing Advisory