City of Quincy Sealed Solicitation
Title: Residential Downtown Redevelopment Opportunity
Deadline: 8/6/2020 4:00 PM (UTC-06:00) Central Time (US & Canada)
Status: Awarded
Description:
Request for Proposals
Residential Downtown Redevelopment Opportunity
The City of Quincy is offering Tax Increment Finance (TIF) funding to assist redevelopment proposals for upper-story residential renovation projects that develop market rate rental housing units. Building owners within the downtown TIF Districts with undeveloped or outdated upper-story space may submit proposals for TIF funding assistance. City TIF funding will provide zero interest loans for fifty percent of the project cost up to a maximum of $25,000 per rental unit renovated, with the balance of the project cost paid by the owner. Upon project completion and a 5 year compliance review, the TIF loan is forgiven.
Proposals are to be submitted in a sealed envelope to: Purchasing Agent, 730 Maine St., Suite # 226, Quincy, IL 62301. The outside of the envelope must be clearly marked, “Residential Downtown Redevelopment Proposal.” Proposals will be accepted no later than 4:00 p.m., August 6, 2020. RFP specifications and TIF Rental Rehab Guidelines can be found online at www.quincyil.gov/bids. The City of Quincy reserves the right to waive technicalities and to reject any and all proposals. The City of Quincy reserves the right to accept the most advantageous proposal for the city.
Documents:
Documents as of 7/7/2020 |
---|
Login to view documents |
Addition 1
Posted: 8/7/2020
Type of Addition: In Review
Addition 2
Posted: 9/10/2020
Type of Addition: Award Information
Overview: The Quincy City Council approved Resolution in the amount of $125,000 for the renovation of five rental units. Q-City Properties - $50,000 for the rehab of 2 units and Quincy Elkton LLC - $75,000 for the rehab of 3 units.
Amount: $125,000.00
Posted: 8/7/2020
Type of Addition: In Review
Posted: 9/10/2020
Type of Addition: Award Information
Overview: The Quincy City Council approved Resolution in the amount of $125,000 for the renovation of five rental units. Q-City Properties - $50,000 for the rehab of 2 units and Quincy Elkton LLC - $75,000 for the rehab of 3 units.
Amount: $125,000.00