What does it mean to be “launch ready”?

For purposes of BHCIP Round 3 funding, a project is defined as “launch ready” when some essential pre-development design, planning, site control, and budgeting details have been professionally formalized and the project meets the minimum requirements listed below, but the project team has not yet issued an official notice to proceed, and construction has not yet started. (A notice to proceed is a formal notification to the construction teams to begin work on a project.)
The intent of these resources is to supplement, not supplant, existing funding resources or funding commitments. Specifically, DHCS defines the following minimum threshold requirements to demonstrate a project is launch ready, and therefore eligible for BHCIP Round 2 funding:

a. Site control established (with deed, purchase and sale agreement (PSA), option contract, letter of intent [LOI], or leasehold);
b. Site plan established (schematic plan with architectural and engineering specifications);
c. Stakeholder support established (letter from city/county/board of directors);
d. Match amount identified (equity, debt, donation, or in-kind with documentation);
e. Initial budget established (based on schematic site plan);
f. Development team established (as needed: attorney, architect, design-build team);
g. Ability to gain building permits within 6 months of funding;
h. Ability to close on land, after gaining building permits, within 6 months of funding; and
i. Ability to start construction within 6 months of grant funding.

A project may be deemed “more” launch ready than other projects by demonstrating any or all of the following, in addition to the above requirements:

a. Ownership of real estate site
b. Preliminary plan review completed, with comments received
c. Construction drawings complete or near completion
d. General contractor (builder) selected and ready for hire. 95% of construction drawings ready for submission for building permit
f. Building permit issued
g. Able to start construction within 60 days or less
Generally, a project that has an official “notice to proceed” is not eligible for BCHIP Round 3 funding. Exceptions may be made for a project that is in default or has a demonstrated capital shortfall. Such applications will be reviewed on a case-by-case basis.