Description
The City of Merced is seeking developers to acquire and develop ten vacant parcels ranging from 2,100 sf to 20,416 sf into affordable housing units that meet AMI income thresholds. Developers must submit proposals outlining site‑plan concepts, financing strategies, entitlement acquisition, and construction plans, with the goal of delivering at least 40 % of units affordable to households earning ≤ 75 % of AMI (including a substantial very‑low‑income component). The city will award a Disposition and Development Agreement to the selected developer, who will be responsible for all financing, permitting, construction, and long‑term affordability compliance.
• Ten parcels (0.05–0.47 acre) located on I St, 18th St, 19th St, and South R St, primarily zoned R‑4.
• Minimum 80 % of parcel area dedicated to housing; ≥ 40 % of units must be ≤ 75 % AMI, with ≥ 50 % of those for very‑low‑income households.
• Affordability restrictions of 30–55 years depending on ownership type; developers must secure all financing (tax credits, state/federal programs, etc.).
• Proposal deadline May 20 2021; selection expected August 2021; project completion required by Feb 25 2023.