Mixed-Income Financing Program

The Bay Area Housing Finance Authority is conducting an informal process to select a lending partners for its Mixed-Income Financing Program, a new small-scale regional finance program in advance of a successful ballot measure, both demonstrating and testing BAHFA’s potential as a public lender and creating a stable revenue stream for the agency. 

BAHFA envisions a flexible program that may include the following types of loan products: 

• Predevelopment Loans 
• Small First Lien Permanent Loans 
• Subordinate or First Lien Bridge Loans 
• Subordinate or First Lien Construction Loans 
• Subordinate Permanent Loans 

These products will support mission-driven developers and sponsors that will: 

• Acquire and rehabilitate unrestricted homes and convert them to permanently affordable housing, and 
• Construct new projects in which a minimum number of units will be permanently affordable. 

BAHFA seeks one or more lender partners to (1) lend alongside BAHFA for the Mixed-Income Financing Program and (2) support BAHFA staff with the loan underwriting process. BAHFA would like to balance maximizing efficiency with building its internal capacity in the long run. 

The Program is under internal review and is projected to obtain final approval by the BAHFA Board in fall of this year. BAHFA’s goal is to develop application and underwriting protocols concurrent with the BAHFA approvals process so that the Program can launch this Fall.

Call for Lenders now open

Link to Call for Lenders submission requirements.

BAHFA reserves the right in its sole discretion to enter into contract negotiations with one or more Proposers based on the submissions, and this call for lenders does not commit BAHFA to enter into any future agreements. The final terms of any potential agreement are subject to mutual agreement by the parties. This Call for Lenders does not commit BAHFA to select a Lender or to pay any costs incurred by any Proposer in the preparation of a response to this Call for Lenders. Only one response will be accepted from any one person, partnership, corporation, or other entity; however, several alternatives may be included in one response.  BAHFA reserves the right to accept or reject all Call for Lenders submitted, request additional information, or revisions to offers and negotiate with any or all Proposers.   BAHFA reserves the right in its sole discretion not to enter into any agreement as a result of this Call for Lenders.  If a selected Proposer fails to enter into an agreement with BAHFA in a timely manner as determined by BAHFA, in accordance with the terms and conditions of this Call for Lenders, BAHFA reserves the right to reject the proposal and enter into an agreement with the next qualified proposer.

Timeline

Monday, August 17, 5:00 pm: Questions due to bahfa@bayareametro.gov 
Monday, August 24, 5:00 pm: Answers to questions posted on the BAHFA website
Friday, September 11, 5:00 pm: Closing date/time for receipt of proposals    
Week of September 28: Interviews (if held)*    
October/November: Decision (tentative)*    

*All dates are approximate and are subject to change before or after the closing date of the RFP. All dates and times are in the Pacific Time Zone.

Staff Contact

Sara Amaral, Assistant Director, BAHFA
Email: bahfa@bayareametro.gov