Posting Language
Title
Authorize negotiation and execution of a contract with Guidehouse, Inc. to assist in the implementation of program recommendations and underwriting tools to support the affordable housing development loan programs with procedures and standards in an amount not to exceed $200,000. Funding: $200,000 is available in the Fiscal Year 2024-2025 Austin Housing Finance Corporation Housing Assistance Fund.
De
Lead Department
Austin Housing Finance Corporation.
Fiscal Note
Funding in the amount of $200,000 is available in the Fiscal Year 2024-2025 Austin Housing Finance Corporation (AHFC) Housing Assistance Fund.
For More Information:
Mandy DeMayo, Treasurer, Austin Housing Finance Corporation, 512-974-1091.
Council Committee, Boards and Commission Action:
May 30, 2024 - The AHFC Board of Directors authorized negotiation and execution of a contract for consulting services with Guidehouse, Inc. in an amount not to exceed $447,780.
Additional Backup Information:
Completed Work: Under their initial contract, Guidehouse completed two tasks. In Task 1, Guidehouse completed their evaluation of existing strategic documentation; reviewed both the Rental Housing Development Assistance and Ownership Housing Development Assistance (OHDA) loan program guidelines; conducted rounds of internal, external, and peer-city interviews; and identified several key themes that highlight department level challenges and additional opportunities for improvement. In Task 2, Guidehouse developed an adapted underwriting framework for multifamily rental projects that builds on the findings and proposed guidelines from Task 1. Guidehouse also evaluated applicable tools for the OHDA loan program, pending the outcome of final guideline decisions.
Task 3: If approved, this item will provide AHFC with additional funding for Task 3. In Task 3, Guidehouse will assist AHFC staff with implementing approved recommendations. This will include assistance with finalizing the new application scoring rubric, developing summary term sheets, and updating program guidelines, among other tasks.
Ad-Hoc Support: Guidehouse may also provide subject matter expert support for the new application and underwriting model to AHFC staff to help troubleshoot problems with the new Underwriting Model Excel Workbook, provide application process support, and monitor the rollout plan.