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ATTY/RESO.0053/CC RESO AMENDING AFFORDABLE HOUSING PRESERVATION PROGRAM – EXHIBIT A <br />REV: 08-19-24 LF <br />Page 9 of 19 <br /> <br /> <br /> <br />EVALUATION CRITERIA <br />POSSIBLE <br />POINTS <br />Readiness to Proceed 30 <br />Timing of Acquisition Closing/Rehabilitation Finance <br />Closing: Full points if within 3 months of the City’s <br />commitment, ½ points for within 6 months, 0 points if over 6 <br />months. <br />30 <br /> <br />Services 10 <br />Supportive Services: Types of services provided should be <br />appropriate for the population being served. If targeting a <br />special population, full points for 1.0 FTE of onsite <br />supportive services staff, ½ points for less than 1.0 FTE of <br />onsite supportive services staff. (If serving the general <br />population and no services required, full points.) <br />10 <br />Affordability 10 <br />Extremely Low-Income (ELI): 5 points for each 5% of <br />project units provided at 30% or less of AMI, up to the <br />maximum of 10 points. <br />10 <br /> <br />Budget Completeness and Accuracy 25 <br />Hard costs: Full points if costs are justified by the Physical <br />Needs Assessment. <br />5 <br /> <br />Hard cost contingency: If project requires rehabilitation, <br />budget must show a 20% hard cost contingency. (If project <br />does not require rehabilitation, full points.) <br />2 <br /> <br />Relocation: If project requires relocation, budget must <br />include appropriate relocation costs. (If no relocation <br />required, full points.) <br />3 <br />Replacement reserves: Replacement reserves must meet <br />City’s standard. <br />3 <br />Operating reserves: Operating reserves must meet City’s <br />standard. <br />2 <br />Cash flow: Cash flow must be positive over 20-year period. 5 <br />Rental/Operating subsidy: If rental/operating subsidy is <br />needed, must demonstrate the rental/operating subsidy is <br />committed. (If no subsidy is required, full points.) <br />5 <br />Preservation Specific 25 <br />Full points if located in an Equity Priority Community (see <br />Exhibit B). <br />10 <br />Full points if the project can document that a minimum of <br />50% of existing tenants have incomes at or below 80% AMI <br />(vacant units count towards this number). <br />10 <br />6.M. - Page 14 of 110 <br />470