Real Estate Owned Program (REO) Requests for
Qualifications for Community Partners, Architects, and Contractors
Restored Homes HDFC (Restored Homes) is issuing Requests for
Qualifications (RFQ) to determine the eligibility of experienced Community
Partners, Architects, and Contractors to participate in the rehabilitation and
sale of vacant foreclosed 1 to 4 family homes to low and moderate income
families in New York City.
In 2008, Congress passed the Housing and Economic Recovery Act (HERA),
which created the National Neighborhood Stabilization Program (NSP).The NSP provides grants to States and localities for the redevelopment of
foreclosed and abandoned homes.The grants are intended to
prevent further declines in neighborhoods most severely impacted by
foreclosures.The City of New York's Department of Housing
Preservation and Development (HPD) received a direct allocation of NSP funds
which will be used to implement its 2008 Consolidated Plan: Addendum -
Neighborhood Stabilization Program, focusing on acquiring, rehabilitating, and
re-selling lender-owned real estate (REO) properties in the five
boroughs.
Restored Homes, through an affiliate organization Restoring Urban
Neighborhoods LLC (RUN LLC), is working in collaboration with HPD, NYS Housing
Finance Authority, the National Community Stabilization Trust and
lenders/servicers to facilitate the transfer of REO property to qualified
owner-occupants to help alleviate the destabilizing effects that the growing
stock of vacant homes is having on many New York City neighborhoods.Restored Homes will purchase and redevelop approximately 95 REO
properties over a 36 month period.In order to create the
largest positive impact, the REO Program targets the areas of greatest need,
based on the highest percent of foreclosures, high cost loans and lis pendens
filings, for property acquisition, rehabilitation, and marketing of
homes.
In addition to accepting applications for the REO Program, Restored
Homes will continue to accept applications for the Asset Control Area (ACA)
Program.Through the ACA Program, Restored Homes will
purchase, rehabilitate and re-sell up to 90 FHA-foreclosed properties from the
U.S. Department of Housing and Urban Development (HUD).The
ACA properties will be located in specific HUD-designated Revitalization Areas
which are defined as neighborhoods in need of economic and community development
where there is already a strong commitment by the local governments to address
preservation of existing housing.Applicants found eligible
may be working in both programs
simultaneously.
If you have any questions, please call at 212-584-8981
Ext. 0.
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Housing Asset Renewal Program (HARP) Notice of
Funding Availability
HPD and HDC are inviting development teams to submit applications for
the funding of affordable housing units in completed or partially constructed
unoccupied residential buildings in New York City where, due to market or
construction conditions, the owner is unable to complete construction or to sell
or rent a sufficient number of units to meet private lending requirements and
therefore construction or completion has been stalled. The funding
available through this Notice of Funding Availability (NOFA) is intended to
convert market-rate units to affordable units and enable the owner to complete
construction and/or rent or sell units. Applicants can apply for funding
to convert the developments into either affordable rental housing or affordable
homeownership housing.
Respondents who choose to download the NOFA at no charge must register
online.A copy of the NOFA may also be obtained via mail or
in person from 9 a.m. to 5 p.m. at HPD located at 100 Gold Street, New York, NY
10038.Respondents must register online at the HPD website or
in person at HPD to receive any updates or additional communications regarding
the NOFA.
Proposals can be submitted starting April 1, 2010 and are
due in hand no later than 4:00 p.m. on April 1, 2010.Detailed instructions are provided in the NOFA.
All communications must be IN WRITING to:
Arden Sokolow NYC HPD 100 Gold Street,
Room 9S-7 E-mail:HARP@hpd.nyc.gov New York, NY
10038