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May 4, 2012 – (RealEstateRama) — Connecticut Housing Finance Authority (CHFA) is seeking proposals from qualified respondents to develop a plan for capital improvements and redevelopment of State-sponsored Housing throughout the State of Connecticut (the “Capital Plan”). The goal of the Capital Plan is to identify and prioritize a $300 million capital investment over the next ten years in order to preserve and revitalize the State-sponsored Housing Portfolio. The capital planning process must include a capital needs assessment, a financial viability assessment, a market assessment for all properties currently in the State-sponsored Housing Portfolio and recommendations of reinvestment strategies for each property.
The process should focus on the need to maintain sustainable quality affordable housing within a realistic evaluation of capital needs and projections of available funding. The Capital Plan is intended to be a guide for decision making in how to best reinvest in properties to assure the long-term viability of the State-sponsored Housing Portfolio.
CHFA invites qualified respondents to submit qualifications for the development of a Capital Plan. Through a transparent and competitive selection process, a respondent will be designated to assess and determine, on an asset by asset basis, the State-sponsored Housing Portfolio’s capital and financial needs. In support of this activity a capital needs assessment report will be prepared by the respondent to identify the conditions of units and identify the type of financing required to bring those units to current construction standards described by the CHFA Standards of Design and Construction. Respondents should also make recommendations to position the properties to be competitive in the market, and address any handicap accessibility and environmental issues.
The deadline for submission of sealed proposals is Friday, June 15, 2012 at 4:00 p.m. Eastern Daylight Time. An overview session will be held on Thursday, May 10, 2012 from 1:00-4:00 p.m. at The Lyceum, 227 Lawrence Street, Hartford, CT.
Please see the attached RFP for additional information.
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