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ATTY/RESO.0053/CC RESO AMENDING AFFORDABLE HOUSING PRESERVATION PROGRAM – EXHIBIT A <br />REV: 08-19-24 LF <br />Page 4 of 19 <br />criteria. See the Available Funding document for descriptions of the funding sources and <br />amounts currently available. <br /> <br />Please note that available funding levels for the Program will vary over time. The City <br />reserves the right to re-allocate Program resources, as required, to ensure that overall <br />City goals are achieved. <br /> <br />Bay Area Housing Finance Authority (BAHFA) Preservation Funds <br /> <br />Redwood City projects with the intent to preserve affordability may be eligible for <br />additional funding through BAHFA. Applicants are encouraged to review the BAHFA <br />website and contact BAHFA staff for possible leveraging opportunities and program <br />details. <br /> <br /> Staff Contact <br />Somaya Abdelgany <br />sabdelgany@bayareametro.gov <br /> <br />SELECTION PROCESS <br /> <br />Projects will be reviewed and scored on a first-come, first-served basis. All projects that <br />meet the minimum threshold requirements will be eligible for funding. If multiple projects <br />have applied around the same time, projects that meet the threshold will be scored <br />against each other (see Evaluation Criteria). The City will use the Evaluation Criteria to <br />score eligible projects to determine the priority for awarding funds. <br /> <br />Minimum Threshold Criteria (Applicable to All Projects) <br /> <br />1) The application must be complete. <br /> <br />2) The funding request must be within the amount available (at the time of the <br />request) for that Program funding area. See the Available Funding document for <br />the funding sources and amounts currently available. <br /> <br />3) The proposal must meet the Program requirements. <br /> <br />4) The applicant must be a nonprofit organization, for-profit, local government <br />agency, joint powers agency, or a joint venture that includes a qualified nonprofit <br />organization. <br /> <br />5) Eligible projects include existing multi-family residential rental projects with: <br /> <br /> <br /> <br /> <br /> <br />6.M. - Page 9 of 110 <br />465