Request for Proposals
Created in 1983, the New Hampshire Community Development Finance Authority (CDFA) supports affordable housing and economic development activities that benefit low and moderate income citizens in New Hampshire.
CDFA administers nearly $25 million in assets annually, which includes a combination of state tax credits, federal Community Development Block Grants, and its Clean Energy Fund. We support the development of vibrant and resilient communities by providing financial resources to nonprofits, community development organizations, counties, municipalities, and for-profit businesses. These organizations, in partnership with CDFA, create affordable housing, support the formation of new jobs, reduce energy costs, and help retain existing employment for low and moderate income New Hampshire residents.
CDFA seeks to establish a predevelopment lending fund that will be accessible for all CDFA-eligible projects (loosely defined as municipalities, nonprofits, and commercial entities). The fund would be used to provide a debt product to qualified project developers for certain costs associated with bringing a full project to the point of being fundable. This includes affordable housing, community development, infrastructure, and clean energy.
The product would have set interest rates and terms, be non-negotiable, allow deferred payments, and would distribute incremental payments based on actual costs. Repayment in full would occur at construction closing. In most cases this would be an unsecured loan.
- Perform basic financial modeling of an initial capitalization of a $600,000 predevelopment fund as described.
- Include various scenarios with specific weighting per project type (housing; community development; infrastructure; clean energy)
- Estimate administrative costs needs
- Compare scenarios wherein CDFA is major project investor vs LIHTC projects
- Identify key underwriting criteria
- Risk mitigation strategies based on existing similar programs
- Identify standards to be included in underwriting review
- Develop key components of a scoring system that reflects risk
- Define options for additional capitalization/scale-up
Questions and submittal
New Hampshire Community Development Finance Authority
Attention: Katy Easterly Martey, Director of Economic Development
14 Dixon Ave, Suite 102
Concord, NH 03301
P 603-717-9118 F 603-226-2816
Proposals should include qualifications, describe any recent project work in this or relevant field, and estimated costs. Proposals should be submitted via email no later than June 25th 2015 at 4 pm.
The Community Development Advisory Committee will consider the latest applications for CDBG grants.
Required reporting for CDFA awardees must be completed and submitted today.
The Board of Directors of CDFA will consider applications for the 2015 tax credit program
Applications from communities interested in CDBG HS/PF must be submitted by today's deadline.
CDFA will hold a press conference to announce tax credit projects selected for FY 16 & 17