Description
Housing Authority of the City of Milwaukee (HACM) is seeking one or more equity investors to fund the Highland Gardens Rental Assistance Demonstration (RAD) conversion of a 114‑unit senior independent‑living complex. The investor will provide equity according to a staged pay‑in schedule, may offer complementary construction or permanent‑loan financing, and must accept the proposed partnership agreement (or a more favorable version). The solicitation includes extensive documentation requirements, insurance coverage, and compliance with HUD, LIHTC, and WHEDA rules.
• Provide equity capital (≈ $13‑$14 M total) on a 20 %/65 %/10 %/5 % schedule or an alternative schedule.
• Optionally supply construction or permanent‑loan financing terms.
• Submit detailed investor profile, experience with RAD/LIHTC projects, and required insurance (≥ $1 M professional liability & workers’ compensation).
• Meet strict evaluation criteria emphasizing pricing, guarantees, and RAD experience.
• Deadline for full proposal is 2:00 PM CST on August 4 2023; questions due July 21 2023.