The City of Cupertino has announced its FY 2022/23 NOFA and RFP and is requesting proposals for eligible capital housing projects. Funds must be used to serve low-and/or moderate-income households located within the City of Cupertino jurisdiction limits.
Donor Name: City of Cupertino
State: California
City: Cupertino
Type of Grant: Grant
Deadline (mm/dd/yyyy): 02/09/2022
Grant Size: $350,000 to 5,600,000
Grant Duration: 1 year
Details:
The City may award and appropriate funds to one or more eligible projects in each funding category. Funds must be used to serve low-and/or moderate-income households located within the City of Cupertino jurisdiction limits. The City is not accepting applications for public services due to a three-year grant funding cycle ending in FY 2022/23.
Funding Information
The following funding sources are on a one-year grant funding cycle (FY 22/23):
- Below Market Rate (BMR) Affordable Housing Fund (AHF) Capital Housing Projects (up to $5,600,000)
- Community Development Block Grant (CDBG) Capital Housing Projects (approx. $350,000)
The estimated CDBG dollar amounts may change based upon the final federal budget approved by Congress. BMR AHF and CDBG allocations are subject to City Council approval and may change as a result.
Funding Source #1- BMR AHF Capital Housing Projects (FY 22/23):
Project Requirements
BMR AHF capital housing project funds will not be granted or issued as forgivable loans. The City invites eligible non-profit and for-profit Development Entities (DEs) to submit proposals for eligible funding activities, which include, but are not limited to:
- Land acquisition
- New construction
- Acquisition and/or rehabilitation of buildings for permanent affordability
- Substantial rehabilitation
Project Affordability Requirements
BMR AHF affordable rental and/or ownership housing proposals must meet the City’s BMR requirements and offer 99 years of affordability. An affordable regulatory agreement will be recorded against the property to ensure affordability.
Eligible Development Entities (DEs)
- Eligible DEs include non-profit and for-profit organizations licensed to conduct business in the State of California.
- DEs must demonstrate credit worthiness, financial capacity, relevant experience to undertake acquisition, rehabilitation, operation of rental housing, or redevelopment of new affordable housing.
- DEs must have no negative financial and project management history within the last five years (i.e., DEs has not been in monetary default on a loan and has been current on all financial obligations and compliance documentation).
Funding Source #2: CDBG Capital Housing Projects (FY 22/23):
The City estimates allocating up to $350,000 in funding for eligible CDBG capital housing projects on a competitive basis for FY 22/23. CDBG capital housing project funds must be used for projects that will serve low-income households located within the City of Cupertino jurisdiction limits. CDBG capital housing projects are subject to HUD Section 3 requirements. The CDBG program is directed toward expanding and maintaining the affordable housing supply; promoting housing opportunities and choices; maintaining and improving community facilities; increasing economic opportunities, accessibility, energy efficiency and sustainability; and providing supportive services specifically for persons of very-low and/or low-income. Targeted groups might include persons who are homeless, seniors, persons with disabilities, and other special needs groups.
For more information, visit 2022/23 NOFA and RFP.
