Title: Small Rental Rehab Program

Deadline: 3/17/2022 4:00 PM   (UTC-06:00) Central Time (US & Canada)

Status: Awarded

Description: The City of Quincy is offering Small Rental Rehabilitation Program (SRRP) funding to assist redevelopment proposals to rehabilitate existing, distressed rental dwelling units or to develop new market-rate rental units through new construction or through the conversion of existing buildings. Building owners with property west of 18th Street, within the City limits, may submit proposals for SRRP funding assistance. Properties located within the Downtown Tax Increment Finance (TIF) District are not eligible for SRRP funding. City SRRP funding will provide zero interest loans for fifty percent of the total cost of renovation/construction up to $20,000 per unit, with the balance of the project cost paid by the owner. Upon project completion and a five year compliance review, the SRRP 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, “Small Rental Rehabilitation Program Proposal.” Proposals will be accepted no later than 4:00 p.m., March 17, 2022. RFP specifications and Small 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.

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