RSG has worked with the City of Merced (“City”) since 2018 to advise on a variety of affordable housing activities and reporting. The City has committed $6.5 million in SLFRF funds to assist with the development of affordable housing. RSG reviewed the SLFRF Final Rule issued in January 2022 to identify eligible affordable housing activities and is currently reviewing funding requests from three developers to allocate SLFRF funds to eligible projects. RSG is underwriting a total of 11 affordable housing development pro formas from developers who have requested City funding from a variety of sources, including SLFRF, PLHA, CDBG, HOME, and HOME-ARP. RSG will advise the City on the total amount of funding to grant for each request and from which funding source based on the requirements of each program.
