City Accepting Proposals for Housing Opportunity Fund
Published on February 15, 2023
The City is currently accepting proposals for its Housing Opportunity Fund (HOF). The HOF is a local, flexible source with 2023 program year funds derived from Construction Excise Tax revenue, American Recovery Plan Act (ARPA), and the Medford City Council Vision Fund. The City Council established the HOF’s 2023 eligibility criteria and funding priorities on October 20, 2022.
Funding will be awarded as zero-interest, deferred loans with $1,000,000 available for projects. All projects receiving a HOF award will be deed restricted to guarantee affordability as listed below. Failure to comply with these requirements will result in repayment.
Affordability Period
<80% AMI 30 years
80-120% AMI 20 years
Homeownership projects 10 years
ARPA-funded 20 years*
*For new rental housing affordable to households <65% AMI or <40% for renovation projects that convert existing rental housing to regulated affordable housing
The HOF was created to help address challenges that housing developers, providers, and property owners encounter when seeking to develop or redevelop quality housing that is affordable. Eligible projects must be located within Medford city limits and support one or more of the following activities:
- Acquisition of real property for housing development
- Construction of new housing
- Development of Accessory Dwelling Units (ADUs)
- Infrastructure development in support of construction of new housing
- Rehabilitation of existing structures for new housing
- Short-term, long-term, and GAP financing for construction of both rental and homeownership housing
- Payment of System Development Charges (SDCs) and/or permit fees of both rental and homeownership housing
Proposals will be accepted from property owners, private sector for-profit developers, certified Community Housing Development Organizations (CHDO’s), government housing providers, and qualified 501(c)(3) organizations. The Request for Proposals may be obtained by contacting the Planning department via email at planning@cityofmedford.org or by calling (541) 774-2398.
Interested developers may attend a voluntary orientation session on Tuesday, February 21, 2023, from 3:00 p.m. – 4:00 p.m. To attend the orientation, please register here. This is a virtual meeting. Please ensure that those who will be responsible for the proposed project attend.
Proposals received after the time established for receiving proposals will not be considered. Paper and facsimile proposals are not acceptable. As soon thereafter as possible, all proposals will be reviewed and evaluated by the City’s Housing Advisory Commission (HAC). The HAC develops funding recommendations, which are then considered by City Council for final approval. The City may reject any and all proposals upon a finding of the City that it is in the public interest to do so. The City also reserves the right to waive any informalities in any proposal and to delete certain items listed in the proposal as set forth herein.
The last day to submit questions is Monday, March 6, 2023, by 5:00 PM. Inquires will be addressed within one week of submittal.
The proposal due date is Friday, March 24, 2023 at 4:00 PM.
The City of Medford programs, services and activities are open to all persons without regard to race, sex, age, handicap, religion, ethnic background or national origin. For further information about this equal opportunity policy, contact the Human Resources department at (541) 774-2010.
Meeting locations are generally accessible to persons with disabilities. To request interpreters for hearing impaired or other accommodations for persons with disabilities, please contact the ADA Coordinator at (541) 774-2074 or ada@cityofmedford.org at least three business days prior to the meeting to ensure availability. For TTY, dial 711 or (800) 735-1232.