Financing Approach for Affordable Housing Development

The Howard County Housing Commission (the “Commission”) seeks proposals from:
1.1. Qualified and experienced syndicators of Low-Income Housing Tax Credit (“LIHTC”) equity; and
1.2. Qualified and experienced lenders for construction and permanent debt.

Proposers must submit for both of the above items. Proposers that only provide one of the items above are encouraged to submit as a team with other vendors that can provide the required debt and/or equity for the Project. It is the intention of the Commission to have one coordinated team, whether inclusive of one firm or multiple, that can provide the required equity and debt financing for the project.

As further described in this Request for Proposals (“RFP”), the selected firm(s) (the “Contractor”) will be tasked with financing a new construction affordable housing project that utilizes a “twinning” LIHTC structure (i.e., 4% and 9% LIHTC projects in the same building) in Columbia, Maryland (the “Project” or “Artist Flats”). See Exhibit A for a description of the Project.

The Project will be the first of five affordable or mixed income housing developments that the Commission is slated to develop in the fast-urbanizing Downtown Columbia district of Howard County over the next decade. Three of the additional four buildings will be mixed-use with residential apartments built above a new library, a new fire station, and a new transit center, respectively. The fourth remaining building will consist of residential apartments only.