5. HOUSING PROJECT PROPOSAL SCORING
Category Maximum
Points
1. Organizational Capacity and Relevant Experience
Organization’s staff, board members and project team are 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 one or more goals or needs identified in Housing Element. Stated need for project and proposed project are supported by letters from community members or organizations other than applicant. Proposed project would provide significant public benefits, such as increased affordability compared to existing conditions at the site, or addressing an urgent housing need in the community. Proposals must address how units reserved for such tenants will be made affordable to those with incomes between 0% to 30% of AMI (i.e., through use of project-based subsidies or other means). Projects serving senior residents shall receive an extra two points, not to exceed 17 total points for this section.
Bo
nus Criteria
Projects that meet any of the following criteria shall receive an extra two points per category, not to exceed 19 total points for this section:
• Project serves senior residents
• Project is located in a High or Highest Resource area according to the 2022 TCAC/HCD Opportunity Map
15 3. Project Design and Readiness
Project design (physical and operational) is cost-effective, feasible, compatible with the neighborhood, and effective in meeting the stated goals and objectives. Applicant is ready and able to apply for planning permits and other financing upon issuance of conditional funding award, and has or will have site control by that time. Applicants are encouraged to submit an application for Preliminary Review prior to July 31, 2022 to the Planning Division to receive initial feedback on their project. For rehabilitation- only projects: all lien-holders, owners, and/or agencies with an ownership or security interest in the property have reviewed and approved this proposal, and are willing to provide any required written approvals of the proposed rehabilitation project within 90 days of 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. 15 5. Percentage of Matching Funds (Leverage)
Points 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 HMF or BMR fund awards.
15 Attachment 2
6. A
ffordability Level
Percentage of units in the project that will be reserved for extremely low income (ELI) and very low income (VLI) households. Points will be awarded as follows: Up to 10 points shall be awarded for the percentage of ELI units, and up to 10 points for the percent of VLI units.
In each category, 1 point will be awarded for every 5 percent of ELI/VLI units, as applicable, up to a maximum of 10 points for 50% ELI or VLI units, as applicable (e.g., to earn a score of 20 points, the project would need to include 50% ELI and 50% VLI units). Unit affordability is based on restricted rent limits, not current occupants’ income levels.
20 Total Points Available 100
Attachment 2