| Contract Administration
Rehab RFP FAQ's
Question:
On the list of items that must be provided the first time states approval to do business in NM. Is that registration with the AG's charitable organizations? Otherwise what documentation is required?
Answer:
The Minimum Threshold Requirements gives examples. They are Articles, Bylaws, and Certificate of Good Standing for a Corporation; Articles, Operating Agreement, and Certificate of Good Standing for a Limited Liability Company; partnership agreement and certificate of limited partnership for a partnership; 501 (c)(3) designation for a non-profit.
Question:
The RFP requests a list of names and addresses for rehab. May we just use initials and the town rather than full street address to maintain client confidentiality?
Answer:
The RFP requirement is the list of names and addresses. Client confidentiality will be maintained as no one outside of MFA staff will have access to these files.
Question:
Can this letter be provided at a later date if we have no alternative way to secure documentation from the City?
Answer:
For scoring purposes on the RFP applications, MFA cannot accept letters of support after the fact. Out of a possible 100 points, the amount of points lost if no letters of support are provided is 5.
Question:
- Page 13 discusses income levels of 50-80% AMI will have an amortized loan with an interest rate of 1-4%.
- Does this mean households within this income level will have to pay back the rehab loan?
Answer:
Yes, households that fall within the 50 – 80% AMI will be required to pay back the rehab loan.
- Is a credit report required?
No.
- Who will be responsible in making the approval decision?
The approval process should follow the same requirements as those in the 0 – 50% AMI range.
- Who will be responsible for collecting payments over the life of the loan?
MFA will service the loan.
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