04 - Laserfiche WebLink

• Multifamily Rental Housing. Rehabilitation and code enforcement programs; and revolving loan programs to assist with site acquisition, predevelopment and construction of projects; or financing to support the development of a specific project. (This housing category accommodates shelters, special needs that include group homes, etc.) • Single-Family Ownership Housing. Rehabilitation and code enforcement programs, revolving loan programs to assist with construction financing, and subordinate loan programs for homebuyers. Please Note: The Agency's new Residential Development Loan Program (RDLP) provides financing for site acquisition and predevelopment activities for infill housing; you can obtain further information on this program at CaIHFA's website (www.calhfa.ca.gov). Additionally, HELP and RDLP cannot be accessed for the same project, unless HELP is used exclusively to provide construction financing or subordinate loans for the homebuyers of that project. Loan Conditions and Repayment. HELP funds are available to a local government entity as an unsecured deferred loan from CaIHFA for up to 10 years at 3 1/2% simple interest per year, and carry minimal restrictions and conditions. Repayment is backed by the general obligation of the local government entity and is required, in full, no later than 10 years from the date a loan agreement is executed. The local government entity shall assure and demonstrate that it possesses full authority to enter into the loan agreement and to repay the loan under the terms and conditions of the loan agreement. Loan-to-Lender Format. Under this format, the local government entity contracts to repay CaIHFA and relends or otherwise utilizes the funds for its stated purposes. The local government entity does not provide property or other resources as collateral. General Considerations for Program Design Evaluation Criteria. Proposals will be ranked on a competitive basis, using the following criteria: • extent to which assisted units are affordable (term, depth, amount, proportion of assisted units within project, relative affordability given the market) • efficiency of propram costs (interest rate, administrative and staffing costs, source and assurance of HELP loan repayment, timing of HELP repayment, etc.). NOTE: If the HELP Program funds are intended to be reloaned by the local government entity to their program participant(s), then the interest rate on the reloaned funds should be as low as practical to provide the maximum benefit to the assisted households. • maximization of benefit (number of units, HELP funds per unit, number of persons to benefit, etc.) • implementation readiness (local agency experience with the type of housing activity, staffing and administrative capacity, local agency financial capacity, site control, requisite zoning and entitlements, local programs in place, drafted implementation plan, market and risk analyses, other financing sources in place, authority to proceed has been provided by local government, etc.) • relative resource impact in directly achieving program objectives (the locality's relative ability to contribute funds, staffing, administration and in-kind services; and the depth of leveraging provided) • comprehensiveness of physical design (physical design aspects that enable the residents and incorporation of the housing into the community; physical design aspects of 2