The City of Middleton has applied for an award of $2,950,000 in Community Development Block Grant (CDBG) – Disaster Recovery (DR) funding to incentivize workforce housing. The City of Middleton Workforce Housing Committee is seeking proposals from for-profit and non-profit developers for projects that create a minimum of 30 units of affordable rental housing for low-income households in the City. The units can all be contained within one building or project, or can be spread over more than one building or project. The units should be income-restricted and affordable to households earning less than 80% area median income (AMI). Preference shall be given to housing developments that offer deeper discounted rents (some 30%, 50%, and/or 60% units). A minimum affordability period of 20 years is required. Preference shall also be given to those projects that ensure that the affordable units remain affordable for a minimum of 30 years. Should the City of Middleton receive a funding allocation, the City would utilize these funds from the Department of Administration’s Community Development Block Grant (CDBG) – Disaster Recovery (DR) program to provide developers financial capacity in the amount of $2,950,000 to meet necessary project development costs. The City’s financing is generally “gap” financing. The CDBG-DR funds require additional documentation, and federal requirements for labor standards and Davis-Bacon wage rates.
To learn more about this opportunity, please see the Request for Proposals on the City website: https://www.cityofmiddleton.us/DocumentCenter/View/9521/CDBG-DR-RFP. Proposals are due Friday, December 10 at 3:00pm.
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