NSP Multifamily Rental Toolkit

Multifamily Rental tools are intended for grantees and their partners designing and implementing programs that provide affordable rental housing through large rental projects of five or more units.

Find By Implementation Step

Program Setup

Toolkit resources categorized in the Program Setup phase are intended for use in the planning and program design phase of NSP projects. Resources include sample policies and procedures, program manuals, checklists, and sample agreements.

Multifamily Rental RFPs and RFQ

NSP Multifamily Rental Program Non-Project-Specific RFQ

Sample Request for Qualifications (RFQ) to be used to solicit developers for multifamily rental projects in the predevelopment phase

Date Published: August 2010

NSP Multifamily Rental Program Sample Project-Specific RFP

Sample Request for Proposals (RFP) to be used with a specific project for which the developer has site control and has already secured any needed non-NSP funding

Date Published: August 2010

NSP Multifamily Rental Program Sample Project-Specific RFP - Attachment

This tool is intended as an attachment for the Multifamily Rental Program Project-Specific RFP, and provides an Excel Workbook to be used in project selection

Date Published: August 2010

Multifamily Rental under NSP

Creating an NSP-Eligible Rental Project

General information on rental basics, relevant rules and regulations, definitions, and additional guidance related to developing multifamily rental projects

Date Published: August 2010

Rental Development Basics

Basics of Rental Development: A Primer on Using Rental Projects to Meet NSP Obligation and 25% Set-Aside Requirement

Multifamily Rental 101 guide for grantees and their partners who are new to the process of developing a rental project. Attachment to the guide calculates maximum supportable debt and 20-year cash flow projections based on user-entered income and expense data

Date Published: September 2010

Acquisition of Properties

Toolkit resources categorized in the Acquisition of Properties phase are intended for use by grantees and their partners who are using NSP funds to acquire property. Resources deal with such issues as property research, URA compliance, tenant protection and relocation, environmental review and more.

Acquiring Property for Multifamily Rental Projects

NSP Multifamily Rental Property Site Acquisition Guide

Guidance and resources for use in identifying and fixing potential NSP compliance issues when developers have already identified sites prior to receiving the NSP award

Date Published: November 2010

General Guidance on Property Acquisition

NSP Property Acquisition Guide

Guide to complying with NSP requirements related to property acquisition

Date Published: September 2010

Sample NSP Property Acquisition File Checklist

Index of documents to be included in a paper file for a property being acquired under NSP

Date Published: September 2010

Underwriting, Financing, and Long-Term Affordability

Toolkit resources categorized in the Underwriting, Financing and Long-Term Affordability phase are intended for grantees and their partners who have acquired property and are financing their NSP project. Resources deal with such issues as applying for financing, pricing NSP homes to comply with NSP requirements, evaluating project feasibility, and more.

Interim Financing Guide

Guide to Using Interim Financing for NSP Activities

Short guide to help grantees understand and implement interim financing in their local neighborhood stabilization programs

Date Published: March 2012

Application Processing Guide for Multifamily Rental Projects

NSP Application Processing Guide for Multifamily Rental Projects

Guidance on processing project-specific proposals submitted in response to a project-specific RFP, and on processing developer-specific proposals submitted in response to a non-project-specific RFQ

Date Published: August 2010

NSP Multifamily Rental Process for Reviewing Applications and Making Awards - Attachment: Subsidy Layering Review Template

Attachment to the Application Processing Guide for Multifamily Rental Projects — provides a template for use in assessing the subsidy amount for a project

Date Published: August 2010

Multifamily Rental Legal Documents

NSP Multifamily Rental Program Sample Gap Financing Loan Agreement: Projects that will Receive Funding After Completion

Sample gap financing loan agreement between an NSP grantee and a borrower for projects that will receive funding after construction

Date Published: August 2010

NSP Multifamily Rental Program Sample Gap Financing Loan Agreement: Projects that will Receive Funding During Construction

Sample gap financing loan agreement between an NSP grantee and a borrower for projects that will receive funding during construction

Date Published: August 2010

NSP Multifamily Rental Program Sample Gap Financing Note

Framework for designing a gap financing note for multifamily rental projects

Date Published: August 2010

NSP Multifamily Rental Program Sample Intercreditor Agreement

Template for an intercreditor agreement between a grantee and another lender, such as a construction lender or permanent lender

Date Published: August 2010

NSP Multifamily Rental Program Sample Mortgage, Assignment of Leases and Rents, and Security Agreement

Sample mortgage document for projects using multiple sources of funding

Date Published: August 2010

NSP Multifamily Rental Program Sample Operating Deficit Guaranty

Adaptable operating deficit guaranty to be given to the grantee by affiliates of the developer to assure the grantee that any initial cash flow deficits will be funded at no expense to the grantee

Date Published: August 2010

NSP Multifamily Rental Program Sample Performance and Completion Guaranty

Sample guaranty to assure the funder that a project will be completed in lien-free condition, in a timely manner, and in accordance with approved plans and specifications

Date Published: August 2010

NSP Multifamily Rental Program Sample Predevelopment Grant Agreement

Sample predevelopment grant agreement to adapt and issue to a developer who successfully competed under the non-project-specific RFQ, also available on the NSP Resource Exchange

Date Published: August 2010

NSP Multifamily Rental Program Sample Regulatory Agreement

Adaptable NSP regulatory agreement for use with projects that may utilize multiple sources of funding

Date Published: August 2010

NSP Multifamily Rental Program Sample Subordination Agreement

Sample agreement for situations in which the grantee's loan to the project will be subordinate to the lien of a commercial lender

Date Published: August 2010

Multifamily Rental Underwriting Template

NSP Multifamily Rental Program Underwriting Template

Workbook template to support multifamily underwriting in NSP. A completed example is also provided.

Date Published: August 2010

Multifamily Rental Written Agreements

NSP Multifamily Rental Program Non-Project-Specific Letter of Intent

Sample letter of intent to conditionally reserve a stated NSP funding amount for a future project for a developer that successfully completed under the non-project-specific RFQ, also available on the NSP Resource Exchange

Date Published: August 2010

NSP Multifamily Rental Program Project-Specific Award Acceptance Agreement

Sample award acceptance agreement for use in projects in which the developer has site control and has secured all non-NSP funding for the site in response to the project-specific RFP

Date Published: August 2010

Rehabilitation and Construction Management

Toolkit resources categorized in the Rehabilitation and Construction Management phase are intended for use by grantees and their partners who have acquired property and financed their NSP projects, and are building or rehabilitating units. Resources deal with inspection and rehabilitation and include information on green specifications.

Multifamily Housing Rehab Project Specification

NSP Multifamily Housing Rehab Project Specification Template and Construction Team Checklist

Customizable library of green and energy efficient building practices that may be edited for each NSP project’s scope of work and incorporated into construction documents for multifamily projects

Date Published: October 2012

Green Building Techniques

NSP Green Housing Development Guide

Guide for incorporating cost-effective green building standards into single-family housing development or rehabilitation programs

Date Published: August 2010

Property and Occupancy Management

Toolkit resources categorized in the Property and Occupancy Management phase are intended for use by grantees and their partners who are carrying out day-to-day operations of the buildings and units developed with NSP funds. Resources deal with such issues as maintenance programs, rental management, income qualification, and more.

Income Qualification Tools

Guide to Completing NSP Income Certifications

Sample procedures for calculating household income to determine eligibility for NSP housing assistance

Date Published: March 2016

Property Management for Rental Projects

NSP Sample Rental Housing Property Management Agreement

Agreement between property owner and management company for management company to operate a rent- and income-restricted rental housing property as an agent of the property owner

Date Published: September 2010

Tenant Application Form

NSP Sample Rental Housing Tenant Application Form

Sample rental application form for prospective tenants

Date Published: September 2010

Program Administration

Toolkit resources categorized in the Program Administration phase are intended for use by grantees and their partners who are managing the activities carried out under NSP. Resources deal with project and financial management issues, and include sample checklists and activity logs.

Tracking Project Data

NSP Property Development Activity Log

Spreadsheet for subrecipients and developers to track NSP project data for their own data management purposes and to transmit to the NSP grantee

Date Published: August 2010

NSP Site and Rehabilitation Approval Request Form

Spreadsheet for tracking crucial information on property acquisitions

Date Published: August 2010