This RFQ is closed.
The Town of Jackson, through the Jackson/Teton County Housing Department, seeks a qualified partner to develop low-income rental housing within the Town of Jackson utilizing a combination of Low-Income Housing Tax Credits, HOME Investment Partnerships Program Funds, National Housing Trust Funds, Town funding and private funding. The Town of Jackson will provide land for the development pursuant to a ground lease and for a nominal annual fee and may consider additional investment depending on the project.
Six responses to the RFQ were received and are provided below. The Housing Supply Board will review these responses on Tuesday, April 28th at 8am via Zoom. Directions for accessing this meeting are provided here.
- Bear Development
- Costello Investments
- Roller Development & Tack Development
- SMR Development
- Summit Housing Group
- Westmount Development
You may find the RFQ here. Responses are due by 4pm on April 24, 2020.
All inquiries regarding this RFQ should be directed to email@example.com. Questions will be accepted until April 21, 2020. Answers to questions received are listed below.
Question: Given the COVID-19 situation, is there any chance you will be modifying the submission requirements to accept electronic copies only, or will a signed original still be required?
Answer: Electronic copies are acceptable and a signed original will not be required. All submissions must be received by the deadline.
Question: Is the Town proposing to take down the land and then do a ground lease to the development or should we be searching for land seller that would accept a land lease that the Town would take care of?
Answer: The Town is proposing to take down the land, although a long-term land leas with a third party could be considered. The Town also owns several properties that could be considered for development.
Question: At what point would the Town purchase the land? Would this be prior to application in September of at the closing of the tax credits?
Answer: The Town could purchase the land before the September application deadline. The Town could also have the property under contract contingent upon tax credit allocation.
Question: We can calculate the fees related to taking a development through LIHTC process to closing. Is the Town proposing to reimburse the chosen applicant for those fees?
Answer: The RFQ includes 4 tasks within the proposed scope. The Town would like to understand the hours required for each task and the hourly fees associated with complete the task. Once a development partner has been chosen, the Town will negotiate a contract for services for the first 3 tasks. Should the application be successful, the Town and developer will develop a separate Ground Lease and Development Agreement.
Question: Are you looking for a developer to do soup to nuts development and deliver a project in partnership with the community or are you looking for someone to better guide the Westmount Development Team through the financing and development process?
Answer: We are looking for a developer to put together a new application for LIHTC and, if awarded, to develop the project in partnership with the Town.
Question: Do you have insight as to whether WCDA is raising the maximum per unit credit allocation - and, if so, how much?
Answer: I do not believe WCDA is raising the per unit credit allocation.
Question: Do you have any idea as to how much the Town may be willing to provide in additional financial support for the project?
Answer: Without having a project to consider, the Town cannot commit to additional funding. However, the Town will consider additional support once a project is conceptualized. This could include providing utilities, preparing the property for development, and/or additional cash.
Question: Would receiving additional funding or support from the Town require a public referendum, meetings, vote?
Answer: Receiving funding or support from the Town will require approval from the Town Council. This is built in to the tasks in the RFQ.
Question: May we obtain a copy of the unsuccessful prior submission?
Answer: This is public information and can be found here.
Question: Have you modified the deadline and timeframes in the RFQ?
Answer: No deadline or timeframes have been modified.