E. Proposal Scoring
Category Maximum
Points
1. Organizational Capacity and Relevant Experience
Organization is well qualified to complete and operate project, considering years of relevant experience and number of similar projects completed. 15 2. Project Need
Project clearly addresses the housing goals and priorities listed in this NOFA, the Affordable Housing Fund Guidelines, and the City’s Housing Element and Comprehensive Plan.
20 3. Project Design and Readiness
Project design (physical and operational) is cost-effective, feasible, compatible with the neighborhood, includes green building/sustainability considerations, and effective in meeting the stated goals and objectives. Applicant is ready and able to apply for other financing upon issuance of conditional funding award. 20 4. Budget and Financial Management
Financial management points based on clean financial audits and a strong record of financial and regulatory compliance at other projects owned or managed by applicant. Budget scores based on realistic cost estimates and budget for development and operation of project, and projected competitiveness of project costs in tax credit applications, etc. If applicable, Proposals must address how units will be made affordable to households with incomes between 0% to 30% of AMI (i.e., through use of project-based subsidies or other means). 15 5. Percentage of Matching Funds
Points are awarded based on the following formula:
- 5 points for the minimum required match (25%);
- 10 points for a 50% match; and
- 15 points for a match of 75% or more.
Proposals with match ratios in between these percentages will be awarded 1 point for every 5% of match up to 15 points maximum. Matching percentage is determined by the percent of project cost to be funded by sources other than the requested City funds, according to applicant’s proposed project budget. Matching funds do not include existing City funding awards.
15 6. Affordability Level
Points are awarded based on the percentage of restricted units limited to various percentages of Area Median Income (AMI) and adjusted by household size. The proposed affordability restrictions included in the application will be incorporated into a City Affordable Housing Regulatory Agreement or other regulatory agreement prior to disbursement of funds. Points are awarded as follows:
Rental Projects
Percent of AMI
Percent of
50% 30%
100% 8 15
90% 8 15
80% 7 15
15 Category Maximum
Points
Restricted
Units
70% 7 14
60% 6 12
50% 5 10
40% 4 8
30% 3 6
20% 2 4
10% 1 2
Ownership Projects
Percent of AMI
Percent of
Restricted
Units
120% 80%
100% 8 15
90% 8 15
80% 7 15
70% 7 14
60% 6 12
50% 5 10
40% 4 8
30% 2 6
20% 1 4
10% 0 2
Total Points Available 100