Fund Administrator Services For The ULA Acquisition and Rehabilitation Small Noah Program RFP

The Los Angeles Housing Department (LAHD) is seeking a Fund Administrator to manage the ULA Acquisition and Rehabilitation Small NOAH Program, which aims to preserve the affordability of small multifamily properties in Los Angeles. The Fund Administrator will be responsible for developing and implementing program guidelines, soliciting borrowers, originating loans, and monitoring compliance with program requirements. The ideal candidate will have experience in affordable housing finance, lending to nonprofits, and working with Community Land Trusts (CLTs) and community development corporations (CDCs). Key responsibilities include: • Developing and annually updating program guidelines and plans • Soliciting borrowers and originating loans • Monitoring compliance with program requirements • Providing technical assistance to borrowers • Coordinating with other LAHD teams to ensure compliance with funding requirements The program has a budget of $38,076,321 for the first year, with additional funding allocated in subsequent years subject to City Council and Mayoral approval. The Fund Administrator's compensation shall not exceed 2% of the total contract amount.