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Last Updated | 08/16/2022 01:04 PM |
Project Title | RFQ - Portage County Home Sites |
Physical Address | View project details and contacts |
City, State (County) | Ravenna, OH 44266 (Portage County) |
Category(s) | Heavy and Highway, Residential |
Sub-Category(s) | Single-Family Homes, Site Development |
Contracting Method | Bids by Invitation |
Project Status | Construction start expected May 2023 |
Bids Due | View project details and contacts |
Estimated Value | $750,000 [brand] Estimate |
Plans Available from | Owner's Representative |
Owner | View project details and contacts |
Architect | View project details and contacts |
Description | Residential Single-Family New Construction Request for Qualifications (RFQ) Residential New Construction Loan Program Overview: The New Construction Revolving Loan Fund (NC RLF) program is a collaboration between the Portage County Land Reutilization Corporation (PCLRC) and the private sector that will leverage the PCLRC’s current and future inventory of vacant land and currently available funding to promote investment and redevelopment of under-utilized property throughout Portage County. The RLF program will provide the necessary land and short-term financing for new housing construction projects that upon completion, will be sold on the open market. Program Design and Statement of Work: Based upon responses to this RFQ, the PCLRC will select a builder(s)/general contractor(s), enter into a property purchase and construction loan agreement, and transfer the vacant land according to the below terms: ? Vacant Land Purchase Terms • Appraised value (third-party appraiser): 50% paid upon loan closing and 50% paid upon sale of the property, or 16 months, whichever is first ? Construction Loan Terms • Interest rate: WSJ prime minus 1% (currently 4.5%) • Fees/closing costs: None • Amount: Up to 75% of post-construction appraised value (third-party appraiser) • Term: loan re-paid upon sale of the property, or 16 months, whichever is first Style: Homes shall be site-built wood or metal frame, vinyl sided (or a superior material), with a pitched, shingled roof. Front porch configuration, and window sizes and amounts, shall be comparable to other homes on the street. House color, and accent colors, should also be consistent with other houses in the area. Basement: A basement is preferred but is not a requirement in the construction of the house. If the design does not include a basement, the home must have adequate storage space in the garage and within the house. Garage: A two car garage is required. Square Footage: The livable square footage shall be a minimum of 1,250 sq. ft., or more as required by local zoning ordinances, deed restrictions or homeowner association requirements. Finished Product: The interior of the home must be move-in ready upon completion, including a range and refrigerator in the kitchen. The house must have a Certificate of Occupancy before the builder(s)/general contractor(s) has completed this task. Note from owner - no questions were received, all responses to the RFQ are due by August 24, 2022, 3:00 PM |
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Details | 1,250 SF.
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Bidder's List | View project details and contacts | ||||||||||||||||||||||||||||||||
Prospective Bidders | View project details and contacts | ||||||||||||||||||||||||||||||||
Project Documents |
Engineered Spec Sheet Architectural Plans Other Documents |