(1) Vendor needs to provide ARPA predevelopment program to the government authority located in Rhode Island.
- The APP Funds will provide loans for predevelopment costs related to the future development of affordable and supportive housing.
- All APP loans will be secured by a land use restriction ensuring affordability for a minimum of 30 years.
- Include but are not limited to:
• Development team's capacity to undertake the project
• Ability to identify and leverage other funding sources
• Marketability of the proposed development, including but not limited to the location of the development, proposed affordability, amenities, and services
• Clear project vision that outlines development goals including project objectives and beneficiaries of the proposal
• A timeline for the submission of a funding application that in agency's estimation, appears reasonable and attainable.
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