The DC Department of Housing and Community Development announces the Housing Production Trust Fund OpenRFP!
Housing Production Trust Fund (HPTF) Open Request for Proposals (RFP) OpenRFP
The Department of Housing and Community Development (DHCD) is responsible for advancing the District of Columbia’s affordable housing strategy through the production and preservation of housing opportunities for low- and moderate-income households. Through this reality, as DHCD operates within an ever-shifting affordable housing marketplace, DHCD must deploy available resources with heightened fiscal discipline and stewardship to ensure efficient investment in high-impact affordable housing. It is within this context that DHCD releases the Housing Production Trust Fund OpenRFP (“HPTF OpenRFP”) process for deployment of HPTF resources for the production and preservation of affordable housing.
The HPTF OpenRFP process is structured so that affordable housing developers can submit HPTF financing applications to DHCD on a rolling basis. This will allow DHCD to underwrite and select projects as close to their actual “readiness” date as possible, providing certainty towards an actual closing date and reducing budget uncertainty for project carrying costs. Within this process, DHCD will have the flexibility to respond more directly to financing requests and will be able to demonstrate actual budgetary demand for HPTF resources during the annual budget process. Overall, the HPTF Open RFP process will allow DHCD to be more responsive to the needs of the market, positioning DHCD as a “true” subsidy lender.
Applications will be accepted through the HPTF OpenRFP process via QuickBase on a rolling basis, with the application window opening quarterly as of January 1st, April 1st, July 1st, and October 1st of each fiscal year.
HPTF Project Concept Application
Under the HPTF OpenRFP process, DHCD has developed term sheets that provide preliminary terms and conditions for HPTF-financed new construction and preservation/stabilization projects - the HPTF New Construction Term Sheet and HPTF Preservation/Stabilization Term Sheet, respectively. These term sheets, in conjunction with the District of Columbia’s Qualified Allocation Plan (“QAP”) and/or the Consolidated Request for Proposals (“RFP”) currently in effect, must be used by the project sponsor to structure the proposed HPTF financing reflected in the HPTF Project Concept Application, the preliminary application for the project concept that includes the following:
- Cover Letter addressed to the DHCD Director;
- Project development narrative, including property name, address, Ward, unit count, development team members;
- Proposed development timeline with target initial financial closing date;
- Preliminary proforma inclusive of all proposed development budget sources and uses, including the proposed HPTF financing request, and a proposed operating budget (all provided via the DHCD Form 202);
- Schematic architectural drawings; and
- Development team contact information.
HPTF Project Application submission minimum requirements:
- Cover Letter
- Development Narrative
- Executed Letter of Intent (LOI) Term Sheet
- Development Team - DHCD Form 203 Developer’s Qualifications
- Pro-Forma - DHCD Form 202
- Site Survey, Appraisal, Market Study
- Zoning Eligibility confirmation
- Permits / Architectural plans
HPTF OpenRFP Process
- HPTF Project Concept Application and Meeting
- DHCD HPTF Letter of Interest (LOI)
- HPTF Project Financing Application Submission
- DHCD Loan Review Committee
- DHCD Financing Request
- DC Council Approval
- DHCD Final Approval
Contact Us: If you have questions about Housing Production Trust Fund (HPTF) OpenRFP, contact Andre Gould in DHCD’s Development Finance Division via email at
Andre Gould
Associate Director of Multifamily Finance
Department of Housing and Community Development
202-442-7200
[email protected]
