City of Quincy Solicitation

Title: Residential Downtown Redevelopment

Deadline: 8/8/2019 4:00 PM (Central Standard Time)

Status: Awarded

Description:

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  Building owners within the downtown TIF Districts with undeveloped or outdated upper-story space may submit proposals for TIF funding assistance.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 8, 2019.  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:

Addition 1

Posted: 8/12/2019

Type of Addition: In Review

Addition 2

Posted: 9/24/2019

Type of Addition: Award Information

Overview: This RFP was awarded by the Quincy City Council on September 9, 2019 to TBRP Properties LLC for the rehab of 2 rental units at a cost of $50,000 and to DP Properties of Quincy, LLC for the renovation of 4 rental units in the amount of $100,000

Amount: $150,000.00

Posted: 8/12/2019

Type of Addition: In Review

Posted: 9/24/2019

Type of Addition: Award Information

Overview: This RFP was awarded by the Quincy City Council on September 9, 2019 to TBRP Properties LLC for the rehab of 2 rental units at a cost of $50,000 and to DP Properties of Quincy, LLC for the renovation of 4 rental units in the amount of $100,000

Amount: $150,000.00