Housing Development and Financial Advisory Services

The Vendor is required to provide housing development and financial advisory on a wide range of HUD affordable housing topics related to the conversion of authority properties to other ownership and operational structures.
- Requirement:
• Offer technical expertise and general recommendations to inform the authority in its efforts to determine the feasibility and the structuring of each property using the conversion option with the “best fit” based on each property’s unique circumstances + utilizing competitive procurement where possible or through a subcontracting relationship, provide all forms of physical needs assessment, rad e-tools and similar reports.
• Identify the best grouping of properties into one of several rad applications, section 18 bundles or other conversion measure.
• Prepare and deliver a detailed analysis of the feasibility of rad, section 18 or other conversion of individual properties or groups of properties.
• The analysis will include projected post-conversion revenues, development of financial strategies and options to carry out conversion, and a comparative analysis showing the revenue potential for its portfolio as compared to current revenues.
• Review development budgets incorporating all applicable sources and uses.
• Create operational pro formats to ensure conformance with HUD program guidelines and lender requirements.
• Preparation and submission of all relevant applications for the properties.
• Participate in communications with the authority and HUD rad staff to help convert properties through the rad financing plan and rad conversion commitment (RCC) issuance process.
• Assist the authority in resolving any outstanding issues for the conversion and collaboratively work with all parties through the review and execution of the RCC, the housing assistance payments (hap) contract, and the rad use agreement, other rad-related documents required by HUD or other applicable documentation.
• Preparation of all relevant determinations and underwriting requirements related to financing applications (i.e. hard cost development thresholds, income averaging, etc.)