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Home My WebLink AboutCF Land Trust Interview Follow-upFrom:paul Stavovy To:McClammy, Theo Cc:Wilson, Kourtney; Standfest, Maria Subject:Re: NHC Workforce Housing Request for Proposals FY 25 Date:Tuesday, August 13, 2024 9:55:34 AM ** External Email: Do not click links, open attachments, or reply until you know it is safe ** Good afternoon from Poland, or good morning there, I am not sure which is more appropriate! Thank you for offering the time to discuss our application in a little more detail. I appreciate New Hanover County's efforts to ask the questions and get into the details a little bit deeper. I believe it was a valuable call, so thank you Maria, Kourtney, and Theo for the time and expertise. Here are my takeaways from the call and points of clarification: This funding is specifically for the purchase of 2 homes in the year associated with this grant process These homes will be sold to those making less than 80% AMI and be secured at that price range in perpetuity due to our 99-year renewable ground lease. These homes will be legally bound to affordability upon any resale in the future The homes will be purchased from Cape Fear Collective (CFC) post-renovation, but CFCLT is working with CFC in a contractual agreement to oversee and manage the construction process, thus assuring high quality and sustainability After purchasing from CFC, CFCLT will place the land in trust and sell the home to homebuyers who meet income elligibility requirements (80% AMI or lower) The funding will then be "re-usable" by CFCLT to purchase subsequent homes from CFC and turn them into community assets The "2-home" number is correct for the contract details, but this is an ongoing investment in affordable housing, as it will be used for dozens of homes over the next several years due to the return of funds on sale The total amount of the project is listed as $650K on the application, but this number should be reflected as $992,750 because the project and the budget spreadsheet demonstrate that the project is actually CFCLT as a whole. The funding, however will be for the direct purchase of 2 homes The other $350K shown in the application has not been secured yet, but will be a similar fund to allow us to take homes from the open market and turn them into long-term, affordable, community assets. This is a current grant application that we have in to NHCE The $660K shown in the project budget reflects our purchase cost and acquisition expenses, and is different from the $650K because we have other expenses included that are not reflected in the proposals submitted to NHC and NHCE Just for verification, the affordability period for this project is 99 years+ because of our Land Trust Documents Also, for verification, we would be open to a loan if that is more consistent with the funding source and works better for NHC Most importantly, thank you again for the opportunity to clarify, and for asking the questions. We deeply value our relationship with New Hanover County and applaud the efforts that are being made to support affordable housing for our residents Please do not hesitate to reach out for any questions, clarifications, or requests for more information. Have a great day! Sincerely, Paul Paul J Stavovy Executive Director Cape Fear Community Land Trust, Inc. PO Box 1143 Wilmington, NC 28402 Phone: 910.619.1074 Website: www.foreverplaces.org Sustaining vibrant and economically diverse communities in the Cape Fear Region through land stewardship - providing permanently affordable housing, facilities, and other community amenities. From: McClammy, Theo <tmcclammy@nhcgov.com> Sent: Wednesday, August 7, 2024 13:22 To: paul Stavovy <paul@foreverplaces.org> Cc: Wilson, Kourtney <kwilson@nhcgov.com> Subject: RE: NHC Workforce Housing Request for Proposals FY 25 Confirmed. Tuesday at 9am. We’ll send the virtual link. Thanks Paul. Theo McClammy Program Manager New Hanover County ‑ Planning & Land Use ‑ Planning & Zoning (910) 798-7180 p | (910) 798-7838 f tmcclammy@nhcgov.com 230 Government Center Drive, Suite 110 Wilmington, NC 28403 www.NHCgov.com From: paul Stavovy <paul@foreverplaces.org> Sent: Wednesday, August 7, 2024 1:20 PM To: McClammy, Theo <tmcclammy@nhcgov.com> Cc: Wilson, Kourtney <kwilson@nhcgov.com> Subject: Re: NHC Workforce Housing Request for Proposals FY 25 ** External Email: Do not click links, open attachments, or reply until you know it is safe ** Good afternoon, Theo and Kourtney. We would like an interview if possible on Tuesday at 9 or 1030, but would we be able to do this virtually? I will be in Poland all week. If not available for virtual, the earliest I could meet would be Friday late morning. Let me know, and Theo, I will see you this afternoon. Thanks, Paul Paul J Stavovy Executive Director Cape Fear Community Land Trust, Inc. PO Box 1143 Wilmington, NC 28402 Phone: 910.619.1074 Website: www.foreverplaces.org Sustaining vibrant and economically diverse communities in the Cape Fear Region through land stewardship - providing permanently affordable housing, facilities, and other community amenities. From: McClammy, Theo <tmcclammy@nhcgov.com> Sent: Wednesday, August 7, 2024 12:38 To: paul Stavovy <paul@foreverplaces.org> Cc: Wilson, Kourtney <kwilson@nhcgov.com> Subject: NHC Workforce Housing Request for Proposals FY 25 The Workforce Housing RFP Post-submission Interview purpose is to receive insights into the applicant’s understanding, commitment, and financial capacity to adhere to the county’s deadline for allocation and disbursement of Federal funds. The interview goal is to summarize and illuminate the key elements of your budget and financial pro forma. What do you especially want the review team to be aware of? Verify how your proposal supports allocation of funds by December 31, 2024, and disbursement of funds by December 31, 2026. Process a. Interview appointments are available for all applicants on August 12 and 13 (if needed Aug. 14th). b. Thirty-minute time slots available. c. Participation is optional – not required. d. Applicants who participate in the interviews are asked to provide a written follow-up within 24 hours. The interview follow-up, one page or less, will be shared with the evaluation team. Interview dates and times: Monday, 8/12 Tuesday, 8/13 Wednesday, 8/14 11:30 am 9:00 am 10:30 am 11:00 am 1:30 pm 1:30 pm 3:00 pm 3:00 pm 3:30 pm 3:30 pm Please respond with two interview appointment preferences or if you do not believe an interview is necessary. Respond to tmcclammy@nhcgov.com and kwilson@nhcgov.com To prepare for the interview, you may draw upon the answers provided to these RFP questions: Name of Financial Fiduciary and Organization Receiving Payment Is the applicant claiming Presumptive Eligibility: Presumption 1 or 2? Project type Land acquisition; Construction (including site work, infrastructure, operational, and design costs) of new affordable single-family or multifamily housing units for sale or rent; Conversion/rehabilitation of existing residential and non-residential structure(s) for affordable single-family or multifamily housing units for sale or rent; Down payment assistance for income eligible homebuyers; Tenant-based rental assistance; or Emergency repair of single-family units for income eligible clients, (please include types of emergency repairs that will be supported by the proposed program). Describe if this project will break ground by July 2025 and how quickly this project will deploy units to market. WHSP funding requested (maximum $1.5 million) and total project/program cost vs. request Loan/Grant terms and interest rate requested Describe how this project supports allocation of funds by December 31, 2024, and disbursement of funds by December 31, 2026. Period of Affordability- Will the units be preserved in affordability for at least 20 years? How many years beyond the minimum 20 years? Once the project is built, how will you ensure compliance to the affordability requirement. Theo McClammy Program Manager New Hanover County ‑ Planning & Land Use ‑ Planning & Zoning (910) 798-7180 p | (910) 798-7838 f tmcclammy@nhcgov.com 230 Government Center Drive, Suite 110 Wilmington, NC 28403 www.NHCgov.com