RFP- 2026/27 Notice of funding availability for Below Market Rate Housing Funds

Description: The City of Menlo Park announces the availability of funds to support affordable housing projects in the City and seeks responsive proposals. Approximately $4 million in Below Market Rate (BMR) housing funds are available under this NOFA to support the preservation and production of permanent affordable housing. The funding is intended to fill the financing gap between the projected total development costs and other available funding sources. Qualified applicants who meet the NOFA qualifications are encouraged to submit proposals. All proposals must be received no later than 5 p.m., November 20, 2026. Interested parties may submit as an individual entity and/or may collaborate with other entities, so long as the collective group meets the NOFA requirements. Funding will be awarded by the City Council on a competitive basis to those projects that are most successful in addressing the City's housing goals and programs. Please see the full details in the RFP document on the Documents tab.