Development Opportunities
Current Requests + Invitations
The RDA periodically releases Requests for Proposals (RFPs), Requests for Qualifications (RFQs), Invitations to Bid, and other types of solicitations, for a variety of services and development opportunities. These documents will be posted to the Utah Public Procurement Place website, where you will need to be a registered user to officially respond to an open bid. If you are interested in responding, you can check the announcements at the bottom of this page, which are posted as they become available.
For more information about a specific solicitation, please submit questions to rda@slcgov.com. You can also pick up Requests for Proposals at our offices, located at 451 S. State, Room 115, Salt Lake City, UT 84111
NOTICE OF FUNDING AVAILABILITY
RESIDENTIAL WEALTH BUILDING PILOT PROGRAM – $3.2M AVAILABLE
The Redevelopment Agency of Salt Lake City (RDA) is excited to announce the public release of a Notice of Funding Availability (NOFA) for its Residential Wealth Building Pilot Program. This program aims to provide flexibility to support housing developments and programs that bridge the wealth gap between renters and homeowners, offering low- to moderate-income families a pathway to financial stability and wealth building!
Application Deadline: December 19, 2024, by 5:00 PM MST
A virtual information meeting was held on November 13 at 12:00 PM MST.
Below is a recording of the information session. Please note the SLC Residential Wealth Building Guidelines were amended on 11/22/2024.
Please send any questions to Browne Sebright at browne.sebright@slc.gov before December 13 at 5:00 PM MST. Responses to common questions will be posted further down this page.
Links to Guidelines and Application:
- SLC Residential Wealth Building Guidelines 2024 – Amended 11/22/2024
- Residential Wealth Building Application
This NOFA is also posted on Utah Public Procurement Place under event number SLCRDA202528583.
HOUSING DEVELOPMENT LOAN PROGRAM – $5M AVAILABLE
The Redevelopment Agency of Salt Lake City (RDA) is excited to announce the public release of a Notice of Funding Availability (NOFA) for its Housing Development Loan Program. Through this NOFA, the city intends to provide low-cost financial assistance to incentivize the development and preservation of affordable housing within city limits.
Application Deadline: December 19, 2024 by 5:00 PM MST
A virtual information meeting was held on November 13 at 12:00 PM MST.
Below is a recording of the information session:
Please send any questions to Kate Werrett at kate.werrett@slc.gov before December 13 at 5:00 PM MST.
Links to Guidelines and Application:
This NOFA is also posted on Utah Public Procurement Place under event number SLCRDA202528585.
RESIDENTIAL WEALTH BUILDING PILOT PROGRAM FAQ
The home value affordable to households making 80% of AMI, as defined by HUD standards, will vary depending on several project-specific and household-specific factors.
These factors include, but are not limited to:
• Downpayment size
• Interest rates
• Financial assistance
• HOA fees
• Mortgage insurance
• Real estate taxes
Total monthly housing costs (including mortgage, property taxes, insurance, utilities, and HOA dues) cannot exceed 30% of a household’s gross income. The RDA cannot assume the specific factors relevant to each Proposal or estimate the home value affordable to each unique household making 80% of AMI. However, the following example illustrates how home values may be determined. Using the HUD-defined standards for Area Median Income, maximum monthly housing costs not exceeding 30% of a household’s gross income, and a 5% downpayment, as well as a 6.125% mortgage rate, 30-year mortgage term, $500 annual property insurance, mortgage insurance at 0.70% of the mortgage amount, real estate taxes at 0.55% of the purchase price, and HOA fees at 1% of the sale price, we will derive the following figures:
Please note that the exact home values affordable to a household making 80% of AMI will depend on the specific project factors described above, particularly the downpayment size and financial assistance available to the households targeted for each development. The RDA in no way asserts that the figures illustrated in this response will apply to each Respondent’s Proposal.
The RDA does not currently have guidelines that require matching household size with unit size (number of bedrooms or square footage) for the purposes of establishing home price. As outlined in Section 5: Application, Review, & Approval Process, Respondents are required to articulate their tenant selection plan and procedures (Criteria I.b.), including any marketing efforts that target certain households to a respective development. Respondents are also required to articulate the number of beneficiaries of each Proposal (Criteria II.b.) and describe the competitiveness of the pricing for the scope of work proposed (Criteria III.c.). Respondents are encouraged to ensure that any proposed tenant selection plan complies with applicable construction codes (building, fire, residential, etc.) and residential property management best practices.
If a project qualifies for both programs, you may submit applications to both the Residential Wealth Building Pilot Program and the Housing Development Loan Program.
Solicitation Process
The RDA periodically releases Requests for Proposals (RFPs), Requests for Qualifications (RFQs), Invitations to Bid, and other types of solicitations, for a variety of services and development opportunities. These documents will be posted to the Utah Public Procurement Place website, where you will need to be a registered user to officially respond to an open bid. If you are interested in responding, you can check the announcements at the bottom of this page, which are posted as they become available.
For more information about a specific solicitation, please submit questions to rda@slcgov.com. You can also pick up Requests for Proposals at our offices, located at 451 S. State, Room 115, Salt Lake City, UT 84111.
Pre-Submission
Addenda and/or exhibits to the requests and invitations, if issued, will be posted to the Utah Public Procurement Place website, as well as kept on file in the office of the RDA. It is the responsibility of all parties submitting responses to REGISTER on the Utah Supplier Portal website for, or make inquiries as to, the addenda, exhibits, or updates issued, and to ascertain prior to submitting a response that all addenda and exhibits have been received. All such addenda and exhibits shall become part of the official documents and all respondents shall be bound by such addenda and exhibits, whether or not received by the respondents.
Submission
All proposals and responses must be submitted to the RDA by the time and date indicated. Submissions can be made in person or by special delivery to the RDA offices. Submissions can also be mailed to PO Box 145518, Salt Lake City, UT 84114-5518, but extra time should be provided in order that submissions arrive in the RDA offices by the deadline.
Post-Submission
When the final ranking has been determined and the City has opened negotiations with the top-ranked offeror, this page will reflect that selection status. In compliance with City Ordinance, no further information regarding the proposals can be made public until contract negotiations have been completed and a formal contract has been awarded. Requests for bids will be opened immediately following the deadline, and the lowest bid will be announced. However, staff will have to review the bid and other required information to confirm that the lowest bidder has complied with all requirements before a contract will be awarded.
Status of Recent Opportunities
The results of recent requests and invitations will be listed here as they become available.