Funding_for_Solicitation.docx

This is a funding document for a solicitation issued by the City of New Haven, Connecticut, for a Licensed Real Estate Broker position supporting the Fair Haven Homeownership Project. The project involves the rehabilitation of three adjacent 2-family structures located at 342, 346, and 350 Grand Avenue into homeowner-occupied units targeting affordable and workforce housing (60%-100% AMI). The City of New Haven, in collaboration with Fair Haven Health Clinic, controls all three properties and intends to use them to anchor a corner location on Grand Avenue and provide homeownership opportunities. Construction is expected to be completed by February 2027.

Contractor compensation for this solicitation is structured as a percentage-based fee calculated on the sales price of each structure, with payment occurring at closing from the sales proceeds. This performance-based compensation model ties the broker's earnings directly to the successful sale and closing of the rehabilitated properties, aligning financial incentives with project completion objectives.