Affordable Senior Housing Consulting Services

The vendor is required to provide planning or housing finance consultant to support the advancement of a multi-unit affordable senior housing project on city-owned land.
- Provide specialized expertise to evaluate funding options, prepare financial models, pursue applicable financing sources, and guide deal structuring efforts to ensure project viability and long-term affordability.
1. Project assessment and funding strategy
• Conduct an initial review of the city-owned site and existing conceptual plans.
• Assess project readiness and identify potential barriers to financing or development.
• Develop a memo outlining the proposed funding strategy and timeline.
2. Funding source identification
• Identify and assess eligibility for local, state, and federal funding programs, including but not limited to:
o Low-income housing tax credits (LIHTC)
o Home investment partnerships program
o Community development block grant (CDBG)
o State housing trust fund
• Recommend the optimal mix of funding sources and potential sequencing.
3. Financial modeling and pro forma development
• Develop detailed financial models and multi-year pro formats.
• Conduct scenario testing based on different funding and development structures.
• Provide recommendations regarding long-term project sustainability and affordability.
4. Funding application preparation
• Prepare one or more competitive funding applications in accordance with agency requirements.
• Assemble required supporting documentation and ensure compliance with relevant funding criteria.
5. Partnership development
• Advise on the comparative benefits and risks of direct public financing versus forming
a Public-private partnership (p3).
• If a p3 is pursued, support the selection of a development partner and assist in negotiation and drafting of partnership terms to protect public interest and affordability.
6. Coordination and communication
• Participate in regular project meetings (virtual or in-person as needed).
• Provide a progress report and final report at city council work sessions.
• Communicate progress, seek input, and provide interim deliverables to city staff and leadership.
7. Compliance and readiness support
• Provide guidance on required compliance documentation for selected funding sources.
• Assist in ensuring the project is “shovel-ready” for the next development phase.
- Budget of $30,000
- Contract Period/Term: 3 years