DFI’s Pre-Development Process results in a recommended program (uses, associated square footage and parking) and public participation structure for each of our projects. Once the local government client has endorsed these recommendations, DFI actively recruits developers to respond to the solicitation, similar to a request for qualifications or request for proposals. All project research is summarized in the solicitation, along with requirements to be included in responses, and the timeline and criteria for evaluation of responses.
DFI, on the behalf of the City of Rocky Mount, is now soliciting experienced developers for the development of up to 60 affordable rental units in the heart of downtown. This opportunity is part of an effort known as Public-Private Partnerships (P3) for Housing that seeks to leverage State and Federal disaster recovery funds to expand affordable rental housing options outside areas vulnerable to flooding. Qualified developers will demonstrate experience with the use of 4% Low-Income Housing Tax Credit (LIHTC) and Multifamily Revenue Bonds (Tax-Exempt Bonds), as well as Federal sources such as Community Development Block Grants (CDBG). Submissions are due Friday, November 22. The Solicitation can be accessed here.