RFP for Audit Services 2026-2030

Location:	California
Posted:	Apr 21, 2026
Due:	May 8, 2026
Agency:	Capitol Area Development Authority (CADA)
Type of Government:	State & Local
Category:	R - Professional, Administrative and Management Support Services
Publication URL:	To access bid details, please log in.

Current Opportunities: RFP for Audit Services 2026-2030

Proposals Due: Friday, May 8, 2026 by 5:00 p.m.

Middle-Income Housing Program: Notice of Funding Availability (NOFA)

The Capitol Area Development Authority (CADA) is pleased to announce its newly adopted Middle-Income Housing Program and the release of this Notice of Funding Availability (NOFA) for $150,000 in funds available at this time. This funding will be awarded, with an accompanying affordability agreement to projects that serve 80% to 120% of Area Median Income households, in accordance with the program guidelines adopted June 30, 2023 and available on the CADA website at Middle-Housing Program .

This NOFA furthers the goals of CADA and its forming entities, the State of California and the City of Sacramento, in providing a range of housing types and affordability within the capitol area and downtown. Under this program, short-term loans and a regulatory agreement assist with housing being developed and operated for middle income households in accordance with State definitions under welfare tax code.

Application materials must be submitted electronically to info@cada.org using the email subject line “Middle-Income NOFA Response” no later than 5:00 p.m. Pacific Time on October 30, 2023. Applications will be accepted over the counter beginning January 2, 2024 for any remaining funds.

Questions regarding the NOFA may be submitted on or before October 13, 2023 to info@cada.org and a Q&A list will be published on the CADA website no later than October 20, 2023.

Please click here for the full NOFA.

Attachment Preview

September 29, 2023

MEMORANDUM FOR:

FROM:

SUBJECT:

POTENTIAL APPLICANTS

Danielle Foster, Executive Director

Middle-Income Housing Program

2023 Notice of Funding Availability (NOFA)

Downtown Sacramento

The Capitol Area Development Authority (CADA) is pleased to announce its newly adopted Middle-

Income Housing Program and the release of this Notice of Funding Availability (NOFA) for $150,000 in

funds available at this time with an accompanying affordability agreement and CADA’s interest in

partnering on projects that serve 80% to 120% of Area Median Income households in accordance with

the program guidelines adopted June 30, 2023 and available on the CADA website at

www.CADAnet.org. These guidelines are also included at the end of this document for additional

reference.

This NOFA furthers the goals of CADA and its forming entities, the State of California and the City of

Sacramento, in providing a range of housing types and affordability within the capitol area and

downtown. Under this program, short-term loans and a regulatory agreement assist with housing being

developed and operated for middle income households in accordance with State definitions under

welfare tax code.

Application materials must be submitted electronically to info@cadanet.org using the

email subject line “Middle-Income NOFA Response” no later than 5:00 p.m. Pacific Time on

October 30, 2023. Applications will be accepted over the counter beginning January 2,

2024 for any remaining funds.

Questions may be submitted on or before October 13, 2023 and a Q&A list will be

published on the CADA website no later than October 20, 2023.

Staff anticipates reviewing applications and making recommendations to the CADA Board at its

December 8, 2023 Board Meeting. The NOFA and related application checklist can be found on the

CADA website, as noted above, or can be requested via email at info@cadanet.org. Program questions

can be submitted to the same email.

Attachment- Program Information and Application Checklist

Preliminary Scoring Chart

CADA Project Area

Program Information:

1. Introduction and Program Goals

Middle-income households in Sacramento have experienced increasing rents and risk of displacement,

indicating a growing issue that requires new tools to reduce worsening of the affordability crisis faced

by lower income groups. Adoption and implementation of a Middle-Income Housing Program allows

public-private-non-profit partnerships to form and creatively respond to this local need for middle

income (80% to 120% Area Median Income) housing. This program can be used for new construction,

acquisition (with or without rehabilitation subject to CADA staff review) of existing housing to become

affordable to middle income households, and preservation of existing affordable housing at risk of

either losing its affordability restriction or without one in a neighborhood identified to be at risk of

gentrification and displacement of existing residents through loss of housing affordability.

For each middle-income housing project selected under this program, CADA will provide a small

secured loan (i.e., maximum of $100,000 per project) and enter into a regulatory agreement to

monitor maintenance, affordability, and upkeep of the units. CADA will partner with selected applicants,

which may include private for-profit developers and housing nonprofits, to accomplish the affordability

goals of the program.

The goals of this Program are:

• Housing Production and Conversion: Produce deed-restricted middle-income units that remain

affordable over time to serve local housing needs and address CADA’s affordable housing

obligations and the City of Sacramento’s commitment to implementing its Housing Element and

meeting its Regional Housing Needs Allocation (RHNA).

• City Housing Element Implementation: CADA will provide this funding in alignment with City

objectives and will prioritize sites identified within the City’s Housing Element as opportunity sites

to meet the local RHNA.

• Housing Affordability: Seek new methods to provide affordable housing at 80 to 120 percent

of the AMI, while minimizing direct subsidies and ensuring affordability for a minimum of

15 years, with the goal of 55 years.

• Other Community Benefits: Additional benefits to the community will be encouraged such as

projects that provide rapid conversion of units to middle-income housing, projects that stimulate

the receipt of other tax revenues (e.g., ground floor commercial uses), projects that include other

local economic and sustainability benefits (e.g., jobs, business incubation, transit-supportive

development), projects that reinvest in aging buildings, and projects that help revitalize blighted or

underutilized areas.

2. Application Process and Timeline

1. Distribution of Notification of Funding Availability (NOFA). Staff has prepared the program NOFA for

review by the Board and will distribute the notice once approved. CADA plans to release the

NOFA on September 29, 2023.

Questions may be submitted on or before October 13, 2023 and a Q&A list will be

published on the CADA website no later than October 20, 2023.

2. Submittal of Proposals. The applicants provide all the information listed in the Middle-Income

Housing Program Application Checklist. Applications will be due no later than October 30,

2023 at 5:00pm.

3. Applications Completeness Review and Analysis. CADA staff reviews the applications for the

required information and makes a “completeness” determination within 30 days. Applicants will be

notified if their application is complete, or if deemed incomplete, what additional information is

required to deem the application complete and a deadline for submittal.

4. Applicant Questions and Interviews (as needed). Questions will be sent to applicants as needed to

clarify applications. Interviews will be conducted to learn more if necessary.

5. Application Consideration by the Board. When CADA staff determines that the applications have

been reviewed and all necessary information has been gathered, the applications will be ranked

and the staff recommendation will be scheduled for a Board meeting for action on staff

recommendations.

3. Evaluation Criteria

To achieve Program goals and objectives, applications for funding support will be reviewed against the

evaluation criteria. Following initial publication of Notification of program Funding Availability, CADA will

consider proposals on a rolling basis until annual budget allocations are exhausted.

Limited Partnership Resources and Experience

The following professional experience parameters for members of the Limited Partnership. If the

project has a variance from this structure, please explain and include all relevant partners and their

related experience:

1. Managing General Partner (MGP) with experience in providing affordable housing and similar types

of housing units, including experience with processing the welfare tax exemption and reporting on

affordability.

2. Administrative General Partner with adequate and assembled resources, in partnership with the

MGP, to develop or acquire the housing contained in the proposal.

3. Property Manager shall have successful experience managing similar types of housing and shall

understand how to complete affordability reporting with the Managing General Partner.

Project Location, Feasibility and Financing

1. Project Location: CADA will review the project location for need for the unit types being proposed

and for the benefits provided to the surrounding neighborhood and area. Projects must be located

within the City of Sacramento. Priority will be granted to projects within CADA’s project areas (map

attached), particularly those on sites that align with the City of Sacramento’s Housing Element

opportunity site list for the Central City. Additional points will also be given to projects that provide

more housing units.

2. Financing: Financing of the project must be fully secured prior to the release of CADA funding.

Priority will be provided to projects requesting less funding assistance from CADA overall and on a

per unit basis, as well as projects that can be completed quickly and offered to residents sooner.

3. Cash Flow and Proforma: Analysis must show the project is feasible by analysis of the project

operational budget, debt, and partner obligations.

Tenant Protections & Occupancy Process

For acquisition of existing projects, the Partnership is required to take the following measures to avoid

involuntary displacement of existing tenants within the 12 months following a property’s acquisition:

1. Noticing: Each tenant shall be provided with a written notice advising them of their rights under the

terms of the approved transaction and deed restrictions and ongoing compliance procedures to

maintain their eligibility to reside in any market-rate or income and rent restricted units by

category, as applicable. The notice shall include procedures for the conversion of tenants of any

market-rate units to deed-restricted units in a way that does not cause involuntary displacement of

existing tenants.

2. Maximum Household Income: Following conversion to deed-restricted rents of all occupied market-

rate units at the commencement of lease-up, no units shall continue to be rented to tenants with

incomes that exceed 120 percent of AMI.

3. Existing Tenants: Existing tenants who meet household income requirements should be transitioned

first into income-qualifying units at their option, prioritizing those with the highest proportion of

income spent on rent payments.

4. Section 8: In accordance with SB 329, the Property Manager shall not discriminate in renting units

to Housing Choice or VASH (for veterans) voucher holders including those receiving rental

assistance from any local, federal, state, or non-profit agency.

5. Renters Insurance: Owners may not make payment of rental insurance premiums a condition of

occupancy.

Reporting Requirements

The following annual reporting is required:

1. Property Condition: The Property Management Company shall continually maintain the affordable

units in a condition which, at a minimum, satisfies the Uniform Physical Conditions Standards

promulgated by the Department of Housing and Urban Development (24 CFR §5.705). CADA will

periodically inspect a sample of units to ensure housing quality.

2. Tenant Summary: The property manager will provide an annual rent roll summary of tenant

attributes including household size, income and rent information on a form acceptable to the CADA

and will provide tenant income certifications for on-site review and upon request.

3. Requests for Other Information: The Partnership team shall respond within 10 calendar days in

writing to any reasonable written request from CADA for other information about the project’s

property maintenance conditions or leasing practices.

Basic Underwriting Standards

All applications will be reviewed against the following basic underwriting standards.

1. Additional Debt: After initial assistance, CADA debt will need to be repaid prior to additional debt on

the property. CADA will also be informed of any additional debt.

2. Annual Monitoring Fee: All projects will be required to pay CADA’s annual monitoring fee.

3. Annual Rent Growth: Rents charged on all units shall be based on 30% of the monthly targeted

income, minus any utilities paid by tenant.

4. Debt Service Coverage Ratio Minimum: The financing package, including all series of bonds where

relevant, must have a minimum debt service coverage ratio of 1.00 in each year the bonds for the

project are outstanding.

5. Deed Restriction: The affordability restrictions will include a 15-55-year deed restriction for all

projects, and otherwise be subject to review and approval by CADA.

6. Asset Management and Replacement Reserves: For new and existing buildings, reserves for asset

management fees and replacement items shall be adequately funded based on the needs of the

property.

7. Partnership Fees: Ensuring that fees collected by the partnership are reasonable and consistent

with industry standards.

8. Ongoing Fees: The total ongoing fees to all entities potentially including the owner, property

administrator, property manager shall be evaluated to ensure they do not exceed market

standards.

9. Operating Expense Growth: Expenses should be projected to grow at a minimum of three percent

per year. Accumulated capital reserves should be used to conduct major renovation as laid out in

the capital repairs Policy, as well as address unplanned emergencies.

10. Vacancy: Vacancy should be assumed at no less than five percent.

11. Debt Obligations: There shall be no additional debt obligations issued on the property without

notice to CADA.

4. Middle-Income Housing Program Application Checklist:

The following information must be submitted to the satisfaction of CADA staff to deem a Middle-

Income Housing Program Application complete for review and consideration by CADA staff and the

CADA Board. You may provide this information in Word, Excel, or related formats. These documents

must be submitted as your project application by emailing them together to info@cadanet.org. Please

be succinct with information and do not send more text than necessary to communicate the

information below. Text documents shall not exceed 15 pages in total.

Required Item

Description

Project Team Narrative and Roles

Description of the project team, each party’s

relevant experience, assigned roles within the

partnership structure. If the partnership has

been created, please include the partnership

agreement as well as an organizational chart

for the partnership and its partners.

Development Team Credentials

Include information about experience with

development and completion of similar

projects, including affordable and middle-

income units.

Project Narrative Summary

Project narrative will be a summary of the

overall project, construction or acquisition

information, number of units and size

(bedrooms, bathrooms, square footage),

affordability levels for units, amenities,

innovative aspects, sustainable components,

timeline for construction/acquisition and

occupancy, entitlement information, and any

other relevant information. If an acquisition

project, please note any plans for major

rehabilitation and whether tenants would be

displaced and/or require relocation. Please

include the project location, site control

information, site information, and whether it

was identified as an opportunity site in the

City’s Housing Element Sites Inventory, web-

based map tool found here:

www.cityofsacramento.org/Community-

Development/Planning/Housing/Housing-

Element

CADA Project Areas can be found here:

www.cadanet.org/resources-agendas/fast-

facts under Geographic Area and is attached

to the NOFA document.

Project Financial Proforma with Financing

Sources

A “live” Excel version of the proforma with

formulas for the transaction, including

projected income and expenses, reserves,

debt coverage ratio, use of CADA funds, etc.

This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.

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RFP for Audit Services 2026-2030

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