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PA Bulletin, Doc. No. 02-542

NOTICES

HOUSING FINANCE AGENCY

Special Initiatives Program; Invitation to Submit Proposals

[32 Pa.B. 1779]

   The Housing Finance Agency (Agency) invites preliminary proposals (proposals) from entities or individuals (applicants) seeking funding for developments which will creatively meet affordable housing needs within this Commonwealth not currently addressed by existing Agency programs.

Program Objectives

   The Agency administers an array of housing funding programs for homeownership, rental housing, emergency mortgage assistance and related supportive housing programs. A complete list of existing Agency programs, application deadlines and contact information is available at www.phfa.org. The Agency recognizes that there may be affordable housing needs that do not coincide with the parameters of its existing programs. In 2002, the Agency has set aside $2 million to provide funding for selected proposals that will creatively meet affordable housing needs not currently addressed by existing Agency programs.

   By this notice, the Agency is inviting submission of Proposals from individuals or profit or nonprofit groups seeking development funding. The Agency encourages creative ideas for developments not otherwise being considered by traditional Agency funding programs. In its review of preliminary proposals, the Agency has not set any parameters on the size of funding request or on the type or number of proposals to be funded. The Agency's review of the proposals submitted may take into consideration factors such as Agency in its sole discretion deems appropriate. Because this program is intended to address affordable housing needs not currently served by existing Agency programs, the Agency will not accept or review proposals which are the same or substantially similar to those which the Applicant, or a related entity, previously submitted to the Agency for consideration under an existing Agency program.

Program Criteria

   Proposals should provide a narrative description of the proposed development. The proposal should clearly and concisely:

   *  identify the targeted need and population to be served; and

   *  offer an explanation of how the needs of the identified population or area will be served.

   Additionally, while the Agency is seeking program ideas that may not yet be fully developed, to the greatest extent available, the proposal should:

   *  provide a development budget;

   *  outline a development time frame;

   *  identify other funding participants and programs involved in the initiative (if any);

   *  specify the amount of Agency funding requested and explain how the Agency funds will be used to create a viable strategy for fulfilling the identified housing need; (Note: Agency funds may be used for bricks and mortar, housing development and directly related expenditures to support housing only, for example: land acquisition, infrastructure and development costs.); and

   *  identify who the participants in the development will be.

   In all instances, proposals must evidence financial viability. Proposals should delineate the income groups being targeted through the housing and the duration of the funded program. The Agency also seeks as much detail as possible regarding the expectations of dates for all significant components of the proposed development, including funding commitments from all other sources, governmental approvals for the development, site acquisition time frames and estimates of the substantial completion of the development. Proposals capable of being delivered quickly may be preferred. The Agency encourages submission of proposals with participation of entities designated as minority business enterprises (MBE), woman business enterprises (WBE) or disabled business enterprises (DBE) and which affirmatively further fair housing.

   Proposals will be considered by the Agency and conditional funding approvals will be provided to the applicants determined to best achieve the guidelines and criteria of the Special Initiative Program (Program). Once preliminary selections have been made by the Agency, applicants will be required to submit additional information including market studies, site analysis, funding commitments, and the like, as determined necessary and appropriate by the Agency. Funding commitment will be made after the Agency reviews the site, determines the facility is financially viable and feasible and determines that the proposal addresses affordable housing needs not currently served by existing Agency programs. Agency funding is subject to ongoing program requirements, the housing finance agency law, and all other applicable Federal, State and local laws and regulations.

   Selected applicants must provide evidence of substantial progress to ensure development feasibility within one year of the date of Agency funding approval. The Agency may recapture funds or terminate any commitment or funding reservation in the event of material deviations from the projected time frames.

Application Process

   Applicants should submit four complete copies of the proposal to Robert Bobincheck, Associate Director, Office of Strategic Planning and Policy, Housing Finance Agency, 2101 North Front Street, P. O. Box 8029, Harrisburg, PA 17105-8029.

   Proposals must be received by the Agency no later than 2 p.m. Thursday, May 16, 2002.

   The proposal/application material will become the property of the Agency. The Agency reserves the right to amend or modify this program at any time and may determine to discontinue this program at any time. Additional proposals and applications may be considered by the Agency at any time. All costs associated with this proposal/application will be the responsibility of the applicant. Questions regarding the program may be submitted to Robert Bobincheck in writing, by mail, fax (717) 780-1833 or e-mail at bbobincheck@phfa.org. Additional information about the Program may be made available from time to time at the Agency's website at www.phfa.org.

   Information regarding funding decisions is expected to be available in September 2002.

WILLIAM C. BOSTIC,   
Executive Director

[Pa.B. Doc. No. 02-542. Filed for public inspection April 5, 2002, 9:00 a.m.]


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