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NYC Department of Housing Preservation & Development
Press Room

FOR IMMEDIATE RELEASE

August 2, 2002

Press Contacts:
Carol Abrams (212) 863-5176
Kim Brown (212) 863-8076

NYC Housing Agency Issues RFQ for Rehabilitation and Management of HUD-owned Properties

$130 million committed to the rehabilitation of properties throughout the City HPD and HUD join forces to rehabilitate properties throughout the City

New York City Department of Housing Preservation and Development (HPD) Commissioner Jerilyn Perine has issued a Request For Qualifications (RFQ) for the rehabilitation and management of properties owned by the U.S. Department of Housing and Urban Development (HUD). This is a new initiative in which HPD and HUD have partnered to sell vacant and occupied, single and multi-family buildings owned by HUD for redevelopment into affordable housing units. The two agencies will rehabilitate more than 500 HUD residential properties to provide homeownership and rental opportunities citywide. These properties, acquired through the foreclosure of federally-insured 203(k) mortgages, will be sold to both non-profit and for-profit developers through the RFQ competitive process.

The agreement forged a plan using models of existing HPD programs that have successfully developed hundreds of thousands of homes and apartments throughout the city.

The majority of this round of HUD-owned properties are located in upper Manhattan and central Brooklyn, with remaining property sites scattered throughout other New York City neighborhoods. HPD will use the same disposition criteria it uses for other city-owned properties, such as building size, location, and occupancy status.

HUD has committed $130 million and $7.7 million in anticipated sales to finance the full rehabilitation of these properties to meet New York City's housing code; HPD will leverage $30 million in private sector development funds which will be provided in the form of direct rehabilitation loans or grants to selected developers. The City will also provide $95 million in tax abatements to purchasers and developers. In some cases, developers will be expected to use additional private financing and equity for rehabilitation.

The City will also provide federally-funded rental assistance for families who qualify. All existing legal tenants of 203(k) buildings will be given the opportunity to return to affordable rehabilitated housing units.

As they become available, HPD will choose a developer for each site through a competitive selection process. The RFQ contains a detailed description of HPD's disposition programs that will be used in this initiative, their competitive selection criteria, and submission requirements. Selected qualified developers are expected to follow an aggressive time schedule with respect to the rehabilitation and operation of the assigned properties.

Applicants may obtain a copy of the RFQ by registering online and downloading the document and its attachments from the HPD website at: http://nyc.gov/html/hpd/html/forms-pubs/forms-pubs-menu.html, or by visiting HPD at 100 Gold St., Manhattan, Room 4-O1 from 9 a.m. to 5 p.m. on weekdays.

All completed submissions must be delivered by hand to HPD at 100 Gold Street, 4th Floor, Manhattan. Each submission requires a non-refundable fee of $100 in the form of a certified check, cashier's check or money order payable to "NYC Department of Housing Preservation and Development." For applicants who are certified not-for-profit organizations, the fee is reduced to $50. No cash or personal checks will be accepted.

All communications and inquiries regarding the RFQ should be directed to:

Grace Samala
Office of the First Deputy Commissioner
100 Gold Street, Room 4-O1
New York, NY 10038
Telephone: (212) 863-8829
Fax: (212) 863-8577

HPD reserves the right to negotiate with any number of developers, accept or reject any or all submissions received as a result of this RFQ, or postpone or cancel this RFQ in part or in its entirety.

HPD's mission is to promote quality housing and viable neighborhoods for New Yorkers. The department is the nation's largest municipal housing development agency. Since Fiscal Year 1987, the agency has completed the construction or rehabilitation of 180,000 units of affordable housing. To request a Homeownership Kit, call HPD's Information Line at (212) 863-8000. For more information about affordable rental housing, call HPD's Affordable Housing Hotline at (212) 863-5610 or log on to nyc.gov/hpd.




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