CalHFA Issues RFI for Local Agency Multifamily (Workforce) Affordable Housing Program
Tuesday, December 17, 2024
On Monday, November 19, the California Housing Finance Agency (CalHFA) issued a Request for Information (RFI) to help inform the creation of a program for the development of new affordable multifamily rental housing. Responses to Part 1 of the RFI are due January 3, 2025, and additional responses (Part 1 & 2) are due February 28, 2025.
Local public entities (LPE), including community colleges, are invited to respond to the RFI. CalHFA is interested in developments with a minimum of 100 units for economies of scale. While the RFI is broad, it does appear that community colleges could consider this program for the construction of workforce housing.
CalHFA would serve as the lender, and the LPE would own the land. There are multiple options for ownership of the improvement and project operations. Among other things, CalHFA is “evaluating the interest of a local public entity in having CalHFA contract with qualified project management, construction, and property management firms to lead development and operations vs. a LPE or its instrumentality contract with qualified project management, construction, and property management firms to lead development and operations.”
For more information, please see the RFI here.
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