The City of Ottawa is seeking housing development partners and projects for the Moderate Income Housing grant opportunity.
Donor Name: City of Ottawa
State: Kansas
City: Ottawa
Type of Grant: Grant
Deadline: 08/08/2022
Details:
Housing is a high priority in the City of Ottawa and the City is seeking developers, contractors, and investors to collaborate on an application to the Kansas Housing Resources Corporation (KHRC) for the Moderate Income Housing (MIH) grant and other potential resources to assist in the development of housing in Ottawa. The City of Ottawa may choose to contribute its resources as leverage to MIH and other state incentives. The City of Ottawa intends to sponsor an application for funding in the September 2022 round of the Moderate Income Housing (MIH) program and planning efforts are under way. Moderate income households are those having incomes within the range of 60 to 150 percent of median household income as defined by the Federal Department of Housing and Urban Development (HUD) FY 2022 Income Limits. The MIH program provides valuable gap financing to help make these projects viable.
Project Qualifications
Qualifying partners and projects must have well developed plans for new housing on a site in Ottawa. The Ottawa City Commission’s current priority is to support the construction of residential duplexes and multi-family residential housing. However, all types of projects will be considered based on their viability and capacity to provide workforce housing. Strong consideration will be given to projects and developers with these characteristics:
- Projects that include multi-family residential housing, which may include duplexes and apartments
- Developers with substantial prior experience in residential development and construction
- Project plans with sufficiently detailed cost, revenue, and funding information necessary for a complete MIH grant application
- Projects that can be completed within 18 months from the date the grant is awarded. The first round of grant awards is anticipated in November 2022.
- Projects meeting other policy objectives, including the redevelopment and adaptive reuse of existing buildings and properties.
- To partner in a successful application to KRHC, the developer must be prepared to provide project plans, share financial information relating to the project and its partners, and meet all local and state building/fire/ADA codes and/or requirements. KHRC can provide valuable gap financing, but with safeguards to ensure compliance and oversight. Potential project partners must be prepared to be transparent with the City of Ottawa as the project sponsor and KHRC as a project partner.
For more information, visit City of Ottawa.
