HomeMy WebLinkAboutBozeman Workfoce Housing Fund Request Worksheet (4)City of Bozeman
Workforce Housing Fund Funding Request Application
Organization Seeking Funding
Organization Name:______________________________________________________________
Address:_______________________________________________________________________
Contact Phone Number: _______________Contact Email Address:_________________________
Project Information:
Project Name:__________________________________________________________________
Location of Project:______________________________________________________________
Project Description*:_____________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
*Attach project documents if desired.
Project Timing: _________________________________________________________________
Which Community Housing Action Plan strategy / action item does this project address?:____________
___________________________________________________________________________________
(This question was moved from the Scoring Sheet)
# Affordable Dwelling Units to be Generated / Renovated:_______________________________
Area Median Income % Targeted:___________________________________________________
Project Partners (if applicable):_____________________________________________________
Does This Project Include Deed Restrictions or Community Land Trust?_____________________
Indicate how this project ensures permanent or long term affordability:
Deed Restriction ______
Land Trust ______
Other ______
Please explain: _________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
Project Funding (Please Attach Budget if Available):
Total Project Budget:
Primary Project Funding Sources (list sources and amounts):
1.___________________________________________$__________________
2.___________________________________________$__________________
3.__________________________________________ $___________________
Amount Requested From Workforce Housing Fund: $_______________________
Which Project Elements Will Funds Be Used For? (attach line item budget if needed):
1._____________________________________ $__________________
2._____________________________________ $__________________
3._____________________________________ $__________________
Type of Funding Requested (circle one): Grant / Loan
If you selected Grant, would you consider a Loan if Grant was not available? Yes / No
Would you accept 50% of your requested amount? Yes / No
Would you accept 25% of your requested amount? Yes / No
Could the Grant / Loan be split among multiple years? Yes / No
When would the funds requested need to be received in order to optimize the benefit of the
funds requested for the project? __________________________________________
Have you received workforce housing fund assistance in the past 5 years? Yes / No
Additional Information:
What additional funding sources have you solicited for this project?
__________________________________________________________________________
__________________________________________________________________________
What is the level of urgency behind the funding request?
__________________________________________________________________________
__________________________________________________________________________
If Workforce Housing Funds are not allocated to this project, how does impact the project?
__________________________________________________________________________
__________________________________________________________________________
Workforce Housing Fund
Scoring Sheet
For Use By CAHAB / Community Development
Date:________________________________________________________________________________
Project Name:_________________________________________________________________________
Amount of Funding Requested:__________________________________________________________
Which Community Housing Action Plan strategy / action item does this project address?:____________
____________________________________________________________________________________
(This question was moved to the Application Request)
Rank the project from 1-10 based on the following criteria:
Criteria Score
Viability of the proposed project: (1 to 5) _________
(Score based on the level of perceived risk – 5=No risk, 4= Low Risk, 3= Average Risk, 2 Medium Risk, 1 =
High Risk)
Ability of this project to address a community need: _________
(Is this germane? Isn’t the Community need to be addressed Community Housing as defined in the
Action Plan?)
Alignment with Community Housing Action Plan: (1 to 5) _________
(5=Well aligned, 3= Neutral, 1= Not Aligned)
Level of partnership with other organizations: (1 to 5) _________
(5 = Partners Participating, 3 = Partners contacted but not Participating or Proposal doesn’t lend itself to
including partners, 1 = Possible Partners not contacted)
Alternate funding sources have been secured / solicited: (1 to 5) _________
(5 = Other Funders Participating, 3 = Other Funders contacted but not Participating or Proposal doesn’t
lend itself to including other Funders, 1 = Other Possible Funders not contacted)
Thoroughness of the application / budget: (1 to 5) _________
(5= Complete and understandable, 3 = Neutral, 1 = Incomplete or hard to decipher)
Perceived need for Workforce Housing funds for project viability: (1 to 5) _________
(5 = Proposal not viable without Workforce Housing Funds or City Participation needed to bolster
funding requests from other sources, 3 = Project could be accomplished without Workforce Housing
Funds, 1 = Workforce Housing Funds not required)
Willingness to be flexible in grant / loan request: (1 to 5) _________
(5 = Very flexible, 3 = Neutral, 1 = Not flexible – based on answers to Type of Funding question)
Scope of project in terms of # of affordable housing units built / preserved: (1 to 10) _________
(Score based on 5 units or fewer = 2 points. Each increment of 5 additional units generates 1 additional
point up to the maximum of 10 points)
Requested investment of Community Housing funds per unit: (1 to 10) _________
(Rate on a declining scale of $1,000 per unit. $1,000 per unit or less = 10 points, $2,000 per unit = 9
points, continuing to $11,000 or more = 0 points)
Opportunity Cost: (1 to 5) _________
( Consider urgency of need: 1)will this opportunity go away or be severely diminished if funding is not
provide at this time; 2) Is the urgency of this request based on an opportunity that recently became
available or is the urgency due to inefficient planning; 3) Why is this request being presented now –
would it be better if executed at a different time)
Funds Recapture: (1 to 10) ________
(Score as follows – Full loan repayment upon completion of project = 10, Loan repayment within 5
years=7, Loan repayment within 10 years= 5, Repayment upon sale or transfer of property to another
entity = 3, Grant request = 0)
Project’s generation of long-term or permanently affordable housing: (1 to 10) _________
(Score on a scale of 5 year affordability = 1 point, each additional 5 year increment of affordability
generates another point. Permanent affordability = 10 points)
Target Income of those benefiting from proposal: (1 to 10) _________
(Score on the basis that below 60% of AMI = 10 points and each 10% increase of AMI results in a 2 point
decrease in the number of points allotted.)
Uniqueness of Proposal: (1 to 5) _________
(Does this proposal contain a new or unique approach that substantially contributes to the provision of
affordable housing and that can be replicated in other projects 5 = New Highly unique idea, 3 = New
application of an existing idea, 1 = Uses an existing approach)
Funds Availability: (1 to 5) _________
(Would providing funds for this project limit the ability to provide funding for future projects that may
be a better investment of Community Housing Funds? 5 = No, 3 = to a moderate degree, 1 = Yes)
Administrative / Overhead cost burden: (1 to 5) _________
(Are the Administrative / Overhead costs for this project in line with the costs for the deliverables? 5 =
Yes, 3 = Moderately so, 1 = No)
Ongoing project operation costs: (1 to 10) _________
(Provide points for Environmental design, Solar panels, Building envelope efficiency, low maintenance,
etc)
Construction Costs: (1 to 5) _________
(Points awarded for low cost per square foot without sacrificing quality, durability or longevity)
Total Score Points: _________
A minimum of 44 points is required for a proposal without dwelling units to be considered for funding.
A total of 69 points is required for a proposal that includes dwelling units to be considered.