ADFA Compliance Department under the guidance of US Housing Consultants has drafted a New Affordable Housing Compliance Manual for our Low Income Housing Tax Credit, HOME and National Housing Trust Funds Programs.
The draft copy has been placed on our ADFA Website under the Compliance and Monitoring Section under the Low Income Housing Tax Credit Program tab for our partners review of the changes for the new federally-mandated rules under HOTMA.
Please Note: The attached guidelines are required for compliance with new federally-mandated rules. ADFA is limited in what aspects of the Affordable Housing Compliance Manual can be changed, and this notice is being posted primarily to alert developers and others of the pending change.
Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Southeast Estates Senior Cottages
These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).
Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Southeast Estates
These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).
Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Stone Ridge at Springdale Phase II
These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).
To: Applicants for loans, financing, tax credits, awards and other benefits through the Arkansas Development Finance Authority
From: Jake Bleed, General Counsel
Date: 4/24/25
RE: Policy on Good Standing ____________________________________________________________________________________________
The following policy has been proposed for adoption by the Arkansas Development Finance Authority. Questions, comments or concerns on the adoption of this policy should be sent to Jake Bleed, general counsel of the Arkansas Development Finance Authority, via email to jake.bleed@arkansas.gov or via mail to the following address:
Jake Bleed, General Counsel Arkansas Development Finance Authority 1 Commerce Way, Suite 602 Little Rock, Arkansas, 72201
Proposed Policy:
“The Authority shall take no action on a request by a third-party entity, including approval of additional loans, grants or provision of additional benefits of any kind, unless and until a finding that the requesting entity or any parties reasonably associated with the requesting entity are in Good Standing with the Authority.
For purposes of the proposed policy, “Good Standing” is defined as:
a) A finding that the requesting entity or any parties reasonably associated with the requesting entity are in full compliance with all outstanding legal and contractual obligations to the Arkansas Development Finance Authority in effect at the time of review; and
b) A determination that the requesting entity or any parties reasonably associated with the requesting entity has paid all fees, payments or other financial obligations owed to the Authority are paid in full at the time of review.
A finding of Good Standing will be made in writing and provided upon request of either the third-party entity or the President of the Authority. Any finding of less than Good Standing will be submitted to the requesting entity in writing and supported by documentation of outstanding obligations owed to the Authority by the requesting entity.
Entities who wish to contest a finding of less-than Good Standing may submit facts supporting their challenge to the Authority. The President of the Authority, with the approval of the Board of the Authority, may waive the requirement of Good Standing upon a finding that the action requested is supported by compelling facts and the requesting entity cannot obtain Good Standing status with reasonable effort.”
NOTICE OF FINDING OF NO SIGNFICANT IMPACT AND NOTICE OF INTENT TO REQEST RELEASE OF FUNDS – THE BLUFFS AT SHACKLEFORD
These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).
NOTICE OF FINDING OF NO SIGNFICANT IMPACT AND NOTICE OF INTENT TO REQEST RELEASE OF FUNDS
NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS
These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).
REQUEST FOR PROPOSALS – CDBG-DR – GENERAL GRANT COORDINATION & PROJECT MANAGEMENT
General Grant Coordination and Project Management Community Development Block Grant – Disaster Recovery (CDBG-DR)
INTRODUCTION
ADFA is soliciting proposals from interested firms and individuals to provide General Grant Coordination and Management and Project Management Services for a Community Development Block Grant – Disaster Recovery (CDBGDR grant). ADFA has received approximately $59,048,000 in overall CDBG-DR funding. ADFA will receive proposals from Proposers having specific experience and qualifications in the area identified in this solicitation. For consideration, proposals for this project must contain evidence of the Proposer’s experience and abilities in the specified area and other disciplines directly related to the proposed service.
QUALIFICATIONS
The Proposer must show to the complete satisfaction of ADFA that it has the necessary facilities, ability, and financial resources to provide the services specified herein in a satisfactory manner. The Proposer should also give a past history and references in order to satisfy ADFA in regard to the Proposer’s qualifications. ADFA may make reasonable investigations deemed necessary and proper to determine the ability of the Proposer to perform the work, and the Proposer shall furnish to ADFA all information for this purpose that may be requested. ADFA reserves the right to reject any offer if the evidence submitted by, or investigation of, the Proposer fails to satisfy ADFA that the Proposer is properly qualified to carry out the obligations of the contract and to complete the work described therein.
Evaluation of the Proposer’s qualifications shall include:
A. The ability, capacity, skill, financial and other necessary resources to perform the work or provide the service required; B. The ability to perform the work or provide the service promptly or within the time specified, without delay or interference; C. The character, integrity, reputation, judgment, experience, and efficiency of the Proposer, and; D. The quality of performance of previous contracts or services.
*Respondents must provide a listing of the personnel to be assigned to the project, including organizational structure and each person’s area of responsibility. Resumes for each professional assigned to this project are also required. Responders must have sufficient and qualified staff immediately available to contract solicitations and to enter into and manage any components targeted by the RFP.
SCOPE OF WORK
A. General Statement: ADFA requests proposals for services of providing an approved CDBG-DR Action Plan.
C. Specifically, ADFA requests the following services to be provided: 1. Action Plan and program development and support including Action Plan amendments.
TIMELINE
It is expected that the Grant Coordination and Management and Project Management process will begin May 1, 2025.
RFP Issued: March 17, 2025 RFP Responses due: April 7, 2025, by 4:30 p.m. Selection of Consultant: April 18, 2025
ADFA reserves the right to make adjustments as needed to the above schedule.
A consultant, firm, or combination thereof wishing to submit a proposal must include the following in their response:
• A brief history of the proposing entity, including general background, knowledge of housing, and experience working with relevant agencies. • Resumes of the personnel assigned to the project. • A statement substantiating the resources of the proposing entity and the ability to carry out the scope of work requested within the proposed timeline. • Proposed fee structure, including billing rates, hourly rates, reimbursable expenses, etc. Preferences will be given to firm fixed pricing. • References including contact information for at least three organizations. • At least one (1) example of work. • A statement of conflicts (if any) the proposing entity or key employees may have regarding these services. The statement should include conflicts, as well as any working relationships that may be perceived by disinterested parties as a conflict. If no potential conflicts of interests are identified, please state so.
SELECTION CRITERIA
Proposals will be reviewed and evaluated by staff.
Criteria for evaluation will include: 5% Proposal for accomplishing the tasks listed in Project Scope 70% Cost 20% Capacity to perform the services within the established timeframe 5% References
RFP SUBMISSION PROCESS Due-April 7, 2025, by 4:30 p.m. Sealed proposals must be received in the ADFA office at the address referenced below. Submittals should include three hard copies including signatures. EDIT – E-mail proposals will be accepted at lori.brockway@arkansas.gov . No fax transmission will be accepted.
Department of Commerce-ADFA Suite 602 1 Commerce Way Little Rock, AR 72120
Proposing entities must note on the outside of their proposal package:
NOTICE OF FINDING OF NO SIGNFICANT IMPACT AND NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS
December 27, 2024
Arkansas Development Finance Authority 1 Commerce Way, Suite 602 Little Rock, AR 72202 501-682-5900
These notices shall satisfy two separate but related procedural requirements for activitiesto be undertaken by the Arkansas Development Finance Authority (“ADFA”). REQUEST FOR RELEASE OF FUNDS
On or about January 13, 2025, ADFA will submit a request to the U.S. Department of Housing and Urban Development (“HUD”) for the release of HOME funds under Title II of the Cranston-Gonzalez Affordable Housing Act of 1990, as amended, to undertake a project known as McAuley Place Apartments Phase II for the purpose of constructing sixty (60) low income multifamily units on vacant land located at approximately 4322 SW I Street, Bentonville, AR 72712. The funding amount is Three Million and 00/100 Dollars($3,000,000.00) in HOME Funds, HUD Grant/Program Number #M-21-SG-050100. The estimated total project cost is Twelve Million Three Hundred Sixty-Three Thousand Two Hundred Four and 00/100 Dollars ($12,363,204.00).
FINDING OF NO SIGNIFICANT IMPACT
ADFA has determined that the project will have no significant impact on the human environment. Therefore, an Environmental Impact Statement under the National Environmental Policy Act of 1969 (NEPA) is not required. Additional project information is contained in the Environmental Review Record (ERR) on file at Arkansas Development Finance Authority, 1 Commerce Way, Suite 602, Little Rock, AR and may be examined or copied weekdays 8 A.M. to 4:30 P.M.
PUBLIC COMMENTS
Any individual, group, or agency may submit written comments on the ERR to ADFA. Allcomments received by January 11, 2025 will be considered by ADFA prior to authorizing submission of a request for release of funds. Comments should specify which Notice they areaddressing.
ENVIRONMENTAL CERTIFICATION
ADFA certifies to HUD that Lori Brockway in her capacity as Federal Housing Programs Manager consents to accept the jurisdiction of the Federal Courts if an action is brought to enforce responsibilities in relation to the environmental review process and that these responsibilities have been satisfied. HUD’s approval of the certification satisfies its responsibilities under NEPA and related laws and authorities and allows Bentonville 2024 Education Workforce Housing LP to use Program funds.
OBJECTIONS TO RELEASE OF FUNDS
HUD will accept objections to its release of fund and ADFA’s certification for a period of fifteen days following the anticipated submission date or its actual receipt of the request(whichever is later) only if they are on one of the following bases: (a) the certification was not executed by the Certifying Officer of ADFA; (b) ADFA has omitted a step or failed to make a decision or finding required by HUD regulations at 24 CFR part 58; (c) the grant recipient or other participants in the development process have committed funds, incurred costs or undertaken activities not authorized by 24 CFR Part 58 before approval of a release of funds by HUD; or (d) another Federal agency acting pursuant to 40 CFR Part 1504 has submitted a written finding that the project is unsatisfactory from the standpoint of environmental quality. Objections must be prepared and submitted in accordance with the required procedures (24 CFR Part 58, Sec. 58.76) and shall be addressed to HUD at 425 W.Capitol, Suite 1000, Little Rock, AR. Potential objectors should contact HUD to verify the actual last day of the objection period.
NOTICE OF FUNDING AVAILABILITY FOR EMERGENCY SOLUTIONS GRANT (ESG) FUNDS
Notice of Funding Availability for Emergency Solutions Grant (ESG) FundsThe Arkansas Development Finance Authority (ADFA) has opened the Emergency Solutions Grant (ESG) Application for the 2024-2025 grant year. The purpose of the program is to help improve the quality of existing emergency shelters for the homeless, make available additional shelters; help meet the cost of operating shelters; help prevent homelessness and assist in placing people in permanent housing as quickly as possible.
The Arkansas Development Finance Authority (ADFA) is the implementing entity for the State of Arkansas and administrator of all programs.
SSBCI is a $10 billion federal program administered by the Department of the Treasury. It is a federal program administered by the Department of the Treasury that was created to strengthen capital programs that support private financing to small businesses, including capital access programs and other credit support programs (loan guarantees, loan participations, and venture capital investment programs) of eligible jurisdictions (i.e., states, the District of Columbia, territories, Tribal governments, and eligible municipalities).
Arkansas was awarded up to $81,621,691 payable in three tranches over 6 years, where 80% of each tranche must be expended to draw the next tranche of funds. The program requires an initial minimum of $1 private funds match for each $1 of SSBCI funds with a plan to produce $10 of private funds match for each $1 of SSBCI funds over the 9-year life of the program.
Treasury has mandated deployment of funds into the following specific targeted areas:
Socially and Economically Disadvantaged Individuals (SEDI) Owned Businesses $16,557,075
Very Small Businesses (VSB) with less than 10 employees) $ 4,142,176
Additional Incentive Funds (available for meeting above targets $ 8,830,440
Main Capital Allocation for General Distribution to all Small Businesses $52,092,000
Total SSBCI Allocation Available to ADFA $81,621,691
ADFA will deploy funds through the following existing programs:
