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III. PROPOSAL SUBNDTTAL AND REVIEW PROCEDURES Proposal Subnullal All Proposals for Program funds shall be submitted to the Housing Division and shall be reviewed and recommended for approval to the Community Redevelopment and Housing Commission for its review and recommendation for City Council or Housing Authority approval through a transparent, open and competitive selection and review process as established in this section. The competitive selection process will begin with a determination by Housing Division staff that the City has sufficient Available Funds to develop one or more affordable housing projects. If the City has sufficient Available Funds to develop one or more projects, the Housing Division, upon City Council approval, will issue a Request for Proposals (RFP), Request for Qualifications (RFQ) or Notice of Funding Availability (NOFA), collectively referred to as the "RFP Process" for a certain amount of Available Funds. The RFP Process will be open ("Open RFP Process") and provide sufficient time for applicants to identify an eligible site and complete and submit a proposal in response to the RFP announcement. It will also align with annual funding cycles through the Low -Income Housing Tax Credit Program. The RFP Process will be open for at least one year with four (4) quarterly deadlines to submit a proposal scheduled throughout the year. The RFP Process will be announced through notices to the following parties: • Interested Developers and Nonprofit Organizations on the Housing Division's RFP Process Database o Developers and Nonprofit Organizations interested in being added to the RFP Process Database can do so by contacting the City's Housing Division • Other affordable housing membership association resources (e.g. Southern California Association of Nonprofit Housing, Kennedy Commission, 2-1-1 OC) • Public Notice in the local newspaper • Published on www.Planetbids.com Proposals must meet the minimum requirements outlined in the RFP Process to ensure compliance with available funding sources' regulations and requirements. Proposals will be received from qualified firms for projects consistent with the requirements of the Available Fund(s) issued through the RFP Process. Proposals shall not exceed the amount of the City's total Available Funds as published on a quarterly basis in the Housing Division Quarterly Report. A Qualified Developer (an "Applicant') shall complete and submit to the Housing Division the Proposal for Program funds and prepare all required attachments and exhibits, including, but not limited to, the project proforma, budget, sources and uses, project management plan, tenant selection and marketing plan, relocation plan (if applicable), signed purchase agreement and escrow instructions, preliminary title report, and limited partnership documents (if applicable). Affordable Housing Funds Policies and Procedures Page 9 75B-74