DOWNPAYMENT ASSISTANCE PROGRAM (DAP) ADMINSTRATION

The City of Palm Bay is seeking a qualified non-profit agency to administer its Down Payment Assistance Program (DAP). The program provides financial assistance to income-eligible households for the purchase of decent, safe, and affordable housing within the city. The administration of the program will be through a contract that entails all necessary activities. The contract will include task orders specific to the source of funding, and invoicing and payments will be for completed activities. The key aspects of the program include: • Providing financial assistance for down payments, necessary repairs, and closing costs • Utilizing funding from federal, state, and local sources • Assisting income-eligible households in the purchase of primary residences • Offering deferred payment loans with 0% interest over the required affordability period • Securing loans with mortgage documents and associated liens.