Description
The Housing Authority of the City of Milwaukee (HACM) is seeking equity investors for the Westlawn Renaissance VII (WR VII) affordable‑housing project. The investor will provide the cash equity required under HACM’s pay‑in schedule, may optionally offer construction or permanent‑loan financing, and will become a member of a single‑member LLC that will own and operate the 97‑unit development (79 townhouses and 18 apartments). The partnership is expected to last 5‑10 years, with a structured cash‑flow distribution hierarchy and extensive reporting, insurance, and compliance obligations.
• Provide equity cash‑infusion per HACM’s 10 %/75 %/10 %/5 % pay‑in schedule and optionally construction/permanent‑loan financing.
• Sign the Partnership Agreement (Attachment A) and adhere to rigorous reporting (quarterly, annual, tax, insurance) and HUD RAD compliance requirements.
• Meet evaluation criteria: pricing (50 pts), guarantees (20 pts), RAD/mixed‑finance experience (20 pts), lender collaboration (5 pts), and AHP/CRA credit sponsorship (5 pts).
• Must supply extensive documentation (due‑diligence checklist, model commitment letter, insurance certificates, non‑collusive affidavit, EBE compliance, etc.) and submit hard‑copy and electronic proposals by the deadline.