Request for Proposals for Downtown Living Initiative Program (DLIP)

Department: Division of Housing and Community Resources 
Related Links: Downtown_Living_Initiative_Program.pdf, NJ W9.pdf, NJ Standard Terms and Conditions.pdf,
Waiver and DPA Contract Checklist.pdf

Introduction:

Name of Program: Downtown Living Initiative Program.

Purpose of the Program: To demonstrate the value of market rate rental housing as part of an overall urban revitalization strategy.

    

Summary:

Requirements: Primary consideration will be given to projects that demonstrate how a market rate rental project can be integrated with, or provide stimulus to, other development projects, such as retail, office or urban home ownership. New construction or conversion projects will be given priority. Consideration will be given to substantial rehabilitation projects in existing rental properties which have been vacant for at least 2 years and are critical to a neighborhood. Secondary review factors will include readiness to proceed, applicant’s ability to deliver, private funds leveraged and amount of subsidy required.

Available Funding: $4,500,000. Funds will be provided in the form of a zero (0%) percent non-amortizing loan. Funds must be repaid upon future refinancing or sale.

Award Criteria: Funds are being provided as gap financing. Minimum number of project rental units is 10. Only one project will be awarded per developer.

Eligible Applicants: Experienced for-profit and non-profit housing developers with a minimum of 5 years of real estate development experience and currently in good standing with the State of New Jersey, (DCA).

Eligible Activities: Funds can be used for project related capital costs including construction, professional fees, financing fees, acquisition (must be part of a development project) and contingencies.

Targeted Neighborhoods: The project must be located in one of the following Trenton neighborhoods: Downtown, Hanover Academy, Mill Hill or the Train Station.

Please see Downtown_Living_Initiative_Program.pdf for complete details. 

 

 

Application process:

All applications must be submitted via the New Jersey Department of Community Affairs’ electronic application system known as the System for Administrating Grant Electronically (SAGE) at https://dcasage.intelligrants.com

Application Submittals: The electronic SAGE application as well as 2 hard copies of all required attachments and submittals must be received by DCA, at 101 South Broad Street, Trenton, NJ 08625, on or before the deadline.

 

 

Deadline:

The deadline by which SAGE applications and hard copies must be received is 5:00 P.M December 27, 2017

 

For Questions or More Information, Please Contact:
Bill Popko 
609-633-6269 or
William.Popko@dca.nj.gov

All bid submissions must include completed mandatory compliance forms.

Click on the links below for mandatory compliance documents:
NJ Standard Terms and Conditions.pdf
Waiver and DPA Contract Checklist.pdf 

Click on this link for the NJSTART Vendor Portal:
https://www.njstart.gov/bso/