pineridge manor

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Check all that apply:

Federal Low Income Housing Tax Credit

State Low Income Housing Tax Credit

Tax Exempt Bonds

Rental Production Program (RPP) Loan

Requested RPP Loan Amount:RPP Loan Product Requested: CHDO

Print Preview - Final Application

Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans

Resources Requested

406,344

of 35Print - APP03-0110

1/14/2005https://www.nchfa.org/Rental/RTCApp/(4h10iw55mwug3g3jzlsfllam)/site/PrintApp.aspx?...



Is project in Qualified Census Tract & Difficult to Develop area:

Project Name and Location

Project Name: Pineridge Manor

Address: Old Plank Rd.

City: Hope Mills County: CUMBERLAND Zip: 28348

Census Tract: Block Group:

No

Political Jurisdiction: Town of Hope Mills

Jurisdiction CEO Name: First: Last:Edwin Deaver Title: Mayor

Jurisdiction Address: 5770 Rockfish Rd.

Jurisdiction City: Hope Mills Zip: 28348

Jurisdiction Phone: (910)424-4555

Site Latitude: 34.5830

Site Longitude: -78.5688





Is this project a follow-on (Phase II, etc) to a previously-awarded tax credit development project?

If yes, list names of previous phase(s):If yes, list names of previous phase(s):

Will the project be receiving federal rental assistance?

If yes, provide the subsidy source:If yes, provide the subsidy source: and number of units:and number of units:

Target Population: Elderly (55)

Indicate below any additional targeting for special populations proposed for this project:

Square Footage Information

Project Description

Project Type:* New Construction Rehab Adaptive Reuse

No

No

Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to other federal and staterequirements)

Persons with disabilities or homeless populations: the greater of 5 units or 10% of the total units

Remarks:

Proposed number of residential buildings: 1 Maximum number of stories in buildings: 2

Types of Units:* Townhouse Duplex Garden Apartment Detached Single-Family

Project Includes:Separate community building -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area):

Community space within residential bulding(s) -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area): 2,8892,889

Elevators -- Number of Elevators:Number of Elevators:

Gross Floor Square Footage: 68,490

Total Net Sq. Ft. (All Heated Areas): 60,438





Applicant Information

Applicant Name: Atlantic Housing Development LLC

Address: 1400 Hope MIlls Rd.

City: State: NC Zip:Fayetteville 28304

Contact: First: Last: Title:Terry Spell Managing member

Telephone: (910)425-9000

Alt Phone:

Fax: (910)425-0807

Email Address: terryspel [email protected]





Total Site Acreage: Total Buildable Acreage:

If buildable acreage is less than total acreage, please explain:

Identify utilities and services currently available (and with adequate capacity) for this site:

Storm Sewer Water Sanitary Sewer Electric

Is the demolition of any buildings required or planned?

If yes, please describe:

Are existing buildings on the site currently occupied?

If yes:(a) Briefly describe the situation:

(b) Will tenant displacement be temporary?

(c) Will tenant displacement be permanent?

Is the site in a distressed neighborhood?

If yes, does a community revitalization plan exist?

Is the site directly accessed by an existing, paved, publicly maintained road?

If no, please explain:

Is any portion of the site located inside the 100 year floodplain?

If yes:(a) Describe placement of project buildings in relation to this area:

Site Description

6.2 6.2

No

No

No

Yes

No





(b) Describe flood mitigation if the project is in the East Region and will have improvements within the 100 year floodplain:





Does the owner have fee simple ownership of the property (site/buildings)?

If yes provide:

Purchase Date: Purchase Price:

If no:

Site Control

No

(a) Does the owner/principal or ownership entity have vaild option/contract to purchase the property? Yes

(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for

purchase of the property and the seller of the property?If yes, specify the relationship:

No

(c) Enter the current expiration date of the option/contract to purchase: 10/15/2003

(D) Enter Purchase Price: 300,000





Present zoning classification of the site:

Is mutifamily use permitted?

Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?

If yes, have the hearings been completed and permits been obtained?

If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for obtainingthem:

Is a public hearing of any kind required in the future for you to fully develop this property?

If yes, describe the nature of the hearing and when you expect the hearing will be held:

Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office review?

If yes, describe below:

Are there any existing conditions of environmental significance located on the project site?

If yes, describe below:

Zoning

R-10

Yes

Yes

Yes

Special use permit obtained January 2003.

Yes

Late February

No

No





Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to createanother row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.

Total Low Income Units:

Note: This number should match the total number of low income units in the Unit Mix section.

Targeting

# BRs Units %

1 6 targeted at 40 percent of median income.







60





Estimated pricing on sale of Federal Tax Credits: $0.

Remarks concerning project funding sources:(Please be sure to include the name of the funding source(s))

Loans with Variable AmortizationPlease fill in the annual debt service as applicable for the first 20 years of the project life.

Funding Sources

Source AmountNon-

Amortizing*Rate(%)

Term(Years)

Amort.Period(Years)

AnnualDebt

Service

Bank Loan 475,000 7.50 30 30 39,855

RPP Loan 406,344 2.00 20 20Local Gov. Loan - Specify:Cumberland County Loan

360,000 2.00 20 20

RD Loan

AHP Loan

Other Loan 1 - Specify:



Tax Exempt Bonds

State Tax Credit(Loan) 875,740 0 30 30 0

State Tax Credit(Direct Refund)

Equity: Federal LIHTC 2,687,641

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees 89,848

Owner Investment

Other - Specify:

Total Sources** 4,894,573

* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt servicebelow.

** Total Sources must equal total replacement cost in Project Development Cost (PDC) section.

78

RPP Loan





Development Costs

Item Cost Element TOTAL COSTEligible Basis

30% PV 70% PV

1 Purchase of Buildings (Rehab) 0

2 Demoli tion

3 On-site Improvements 405,714 405,714

4 Rehabilitation

5 Construction of New Building(s) 2,580,000 2,580,000

6 Accessory Building(s)

7 General Requirements 179,143 179,143

8 Contractor Overhead 63,297 63,297

9 Contractor Profit 189,891 189,891

10 Construction Contingency 102,541 102,541

11 Architect's Fee - Design 123,200 123,200

12 Architect's Fee - Inspection 30,800 30,800

SUBTOTAL (lines 1 through 12) 3,674,586

13 Construction Insurance (prorate)

14 Construction Loan Orig. Fee (prorate) 15,000 15,000

15 Construction Loan Interest (prorate) 75,000 75,000

16 Construction Loan Credit Enhancement (prorate)

17 Construction Period Taxes (prorate) 501 501

18 Water, Sewer and Impact Fees

19 Survey 4,260 4,260

20 Property Appraisal 6,000 6,000

21 Environmental Report 2,500 2,500

22 Market Study 4,000 4,000

23 Bond Costs (specify)

24 Cost of Issuance

25 Placement Fee

26 Permanent Loan Origination Fee 10,000

27 Permanent Loan Credit Enhancement

28 Title and Recording 2,000

SUBTOTAL (lines 13 through 28) 119,261

29 Real Estate Attorney 15,000 15,000

30 Other Attorney's Fees 6,000 6,000

31 Tax Credit App Fees 23,715 23,715

32 Cost Certification/Accounting Fees (specify) 8,565 8,565

33 Tax Opinion

34 Organizational (Partnership)

35 Tax Credit Monitoring Fee 36,000


36 Furnishings and Equipment

37 Relocation Expenses

38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 543,574 543,574

39 Other Basis Expense (specify)

40 Other Basis Expense (specify)

41 Rent-up Expenses 14,821

42 Other Non-basis Expense (specify)

43 Other Non-basis Expense (specify)


44 Rent up Reserve 18,000





Comments:

45 Operating Reserve 135,051

46 Other Reserve (specify)

47 Other Reserve (specify)

48 DEVELOPMENT COST (lines 1-47) 4,594,573 0 4,378,701

49 Less Federal Financing

50 Less Disproportionate Standard

51 Less Nonqualified Nonrecourse Financing

52 Less Historic Tax Credit (residential) 0

53 TOTAL ELIGIBLE BASIS 4,378,701 0 4,378,701

54 Times Applicable Fraction 100.00% 100% 100%

55 TOTAL QUALIFIED BASIS 4,378,701 0 4,378,701

56 Tax Credit Rate 0.00% 7.87%

57 FEDERAL TAX CREDITS at Estimated Rate 344,603 0 344,603

57a FEDERAL TAX CREDITS at 8.5% or 3.75% 372,189 0 372,189

58 FEDERAL TAX CREDITS REQUESTED 344,595 344,595

59 STATE TAX CREDITS 875,718

60 Land Cost 300,000

61 TOTAL REPLACEMENT COST 4,894,573





Please provide a detailed description of the proposed project:

Construction (check all that apply):

Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches

Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding

Other:

Have you built other tax credit developments that use the same building design as this project?

If yes, please provide name and address:

Site Amenities (check all that apply):

Onsite Activities:

Landscaping Plans:

Market Study Information

This project will include two, one story, buildings each containing 36 housing units for the elderly.There will be 12 two bedrooms and 24 one bedrooms in each building. The buildings will beconnected by a covered walk. Each building will contain support/public spaces.

Community Bldg - Sq Ft: Community Room - Sq Ft: 1,500 Garages - Number:

Laundry Rm Screened Porch Resident Computer Center Exam Rm Reading Rm/Library

Game/Craft Rm Exercise Rm TV Rm Beauty Salon Vending Rm

Chapel/Prayer Rm Picnic Area Onsite Leasing Office Onsite Mgr Onsite Maint. Person

Irrigated Lawns Security Gate Car Care Area Storage Units Gazebos

Walking Trails Garden Spots Basketball/Tennis Court Playground Ball Field

Pool Fitness Stations Horseshoe Pit Shuffleboard Covered Drive Thru





Interior Apartment Amenities (check all that apply):

Flooring: Carpet Vinyl Wood Wood Parquet Ceramic Tile Other

Heating/Cooling: Central Air Gas Heat Heat Pump Electric Pump

Do you plan to submit additional market data (market study, etc.) that you want considered?

If yes, please make sure to include the additional information in your pre-application packet.

Range Hood Dishwasher Disposal Refrigerator (frost free) Storage interior/exterior

W/D Hookups Mini-blinds Pantry Ceiling fans Walk-in closets

Yes





Briefly describe your site in each of the following categories:

Applicant's Site Evaluation

NEIGHBORHOOD CHARACTERISTICS

Physical condition of buildings and improvements. Trend and direction of real estate developmentrelative to the project. Area economic health (degree of decline or investment).

The site is vacant, undeveloped woods. There is no evidence of any prior development on this site.Within a 1/2 mile radius of this site are 186 single family residences representing an approximatepopulation of 502 persons, 574 persons residing in apartments for a total of approximately 1,076people living within 1/2 mile of the site. This represents nearly 9% of the resident population of HopeMills. Most homes in the area have been constructed between the 1950's and the 1980's andappear to be in sound condition. This is an area in transition where a great deal of private and publicinvestments continues to define the ongoing trends of development geared towards professional,service and retail uses. Enclosed as part of the hard copy submittals is a map of the existing landuse in the area displaying a 1/2-mile to 1-mile radius of the site proposed for development. Uses areitemized on an accompanying paper listing each use in particular. This area is a part of Hope Millsthat will continue to undergo continual infill development in a manner consistent with the needs ofthe surrounding neighborhoods and sustaining economic vitality.

Suitability of surrounding development. Land use pattern is primarily residential with a balance ofother uses, including non-competing multifamily and single family units, relevant amenities, shoppingand services.Aside from residential uses, there are several sites nearby that provide certain desirable amenities

to citizens. Adjoining the proposed site is a new full service United States Post Office. Within walkingdistance is Hope Mills Crossing Shopping Center with a Bi Lo grocery as the anchor. A MedicineShoppe pharmacy, attorney's offices, chiropractors, insurance agencies, barber & hairdressingshops, restaurants, a Wal Mart Supercenter, two churches, a senior center, a Masonic Lodge, acommunity center, parks, playgrounds, and a public library are also within 1/2 miles of this site. Landuse in this area has been conducted in keeping with a comprehensive plan adopted by Hope Millssince 1996.

SITE SUITABILITY

Adequacy of street(s) and/or access road(s) serving the proposed project and traffic controls (lights,stop signs, turning lanes). Access to mass transit (if applicable).Current funded transportation improvements are in progress either by construction, design, orundergoing feasibility study. All transportation improvements will include sidewalks and bicyclelanes, consistent with the Bicycle & Pedestrian Plan adopted by Hope Mills in 1999. The majorintersection nearest this site was enhanced at the time the Hope Mills Crossing shopping center wasbuilt. "Lateral access" between sites is enforced to reduce traffic congestion and the number of

driveways along the major highways in Hope Mills. Mass transit, or at least some form of dedicatedtransit for certain residents, is currently on the table for discussion. It is hoped that Hope Mills canpartner with Fayetteville and Cumberland County within the next couple of years to determine thebest way to structure a countywide transit system that will be used extensively.

Amount and character of vacant, undeveloped land. Effect of industrial, large-scale institutional orother incompatible uses: wastewater treatment facilities, high traffic corridors, junkyards, prisons,landfills, large swamps, distribution facilities, frequently used railroad tracks, power transmission linesand towers, factories or similar operations, sources of excessive noise, and sites with environmentalconcerns (such as odors or pollution).This site enjoys the privilege of isolation from direct traffic and noise due to its location, yet it is closeenough in proximity to allow residents to walk or drive a short distance to accommodate theireveryday needs. Presumably, some land adjoining this site on the north side will provide a largenatural open space buffer to preserve the view setting and prevent undesirable encroachment ofnonresidential uses. Being located on the fringe of the corporate limits of Hope Mills affords this sitethe luxury of denying incompatible uses of natural and scenic land conservation help to insure thesite harmony with existing and future land uses. There are no wetlands in inventory that would prove

detrimental to site of this project, nor is there any concerns of flood. Any negative feature or physicalbarriers that may exist on or near this site are absolutely minimal, if they exist at all. Electricaltransmission lines are nearly 1/2 mile north of this site, and the railroad is nearly 3/4 mile south. Anyfuture development, or redevelopment, of parcels near this site will require review and approval, withspecial intent on preserving and enhancing existing development.

Degree of on-site negative features and physical barriers that will impede project construction oradversely affect future tenants; for example: power transmission lines and towers, flood hazards,steep slopes, large boulders, ravines, year-round streams, wetlands, and other similar features. Foradaptive re-use projects- suitability for residential use and difficulties posed by the building(s), suchas limited parking, environmental problems or the need for excessive demolition.





For each applicable neighborhood feature, enter distance from project in miles.

Other facilities or services:

Similarity of scale and aesthetics/architecture between project and surroundings.This project's location enables it to be as secluded or visible as it wants to be. Regardless, this is anarea where old and new construction meets, and the transition is not stark or cold. Landscapesbuffers are beneficial in softening the divisions from the old neighborhoods to the newer

developments. Aesthetically and architecturally, this project will blend in harmony with itssurroundings.

Concentration of affordable housing (housing credit, project-based rental assistance, public housing).This proposed project is the first of its kind to be considered for an area central to the core of HopeMills. Future development in this area will serve to enhance the project by way of supportiveservices. Recent trends in this area are moving away from predominately retail to more professionalservice offices and clinics that are complimentary to the residents of the project.

Availability of Supportive Services (if applicable):

The amenities within one mile of the project include the Hope Mills Municipal Complex where theFirs Station, Police Department and Town Hall are located. The Veteran's Park is also situated in thecomplex. An elementary school, animal hospital, dental clinic, banks, Hope mills Golf Course,Brower Park and three more churches are also located within one mile of the project site.

Grocery Store0.1 Community/Senior Center0.049

Mall/Strip Center0.1 Hospital0

Outdoor Athletic Fields0.17 Pharmacy0.032

Day Care/After School0.39 Basic Health Care0.74

Schools0.48 Medical Offices0.74

Public Transportation Stop0 Bank/Credit Union0.04

Convenience Store0.43 Restaurants0.19

Basketball/Tennis Courts0.32 Professional Services0.04

Public Parks0.17 Movie Theater0

Gas Station0.24 Video Rental0.38

Library0.31 Public Safety (Fire/Police)0.39

Fitness/Nature Trails0.38 Post Office0.0

Public Swimming Pools0





Development List number low-income/tax credit housing projects and units developed, operated, and maintained in compliance by the principal(s) betweenDecember 1, 1996 and January 1, 2003:

Management List number of low-income housing tax credit units managed in the past 10 years:

Has any owner, principal, or management agent been debarred or received a limited denial participation in the past 10 years by any federal or

state agency?

Has any owner, principal, or management agent been involved in a bankruptcy, an adverse fair housing settlement, an adverse civil rights

settlement, or an adverse federal or state government proceeding and settlement in the past 10 years?

Has any owner or principal been in a mortgage default or delinquency of three months or more within the last 5 years on a FHA-insuredproject, a Rural Development funded rental project, a tax-exempt funded mortgage, a tax credit project, or any other publicly subsidized

project?

Has any owner or principal been involved within the last 10 years in a project which previously received an allocation of tax credits but failed tomeet compliance standards of the tax credit allocation, including return of a reservation of tax credits to the Agency after the carryover

agreement has been signed?

Has any owner or principal had a Form 8823 filed with the IRS for noncompliance on a project using low-income housing tax credits or

received a letter of non-compliance from the Agency?

Project Team Experience

North Carolina Other States

Projects:

Units:

North Carolina Other States

Projects:

Units:

No

No

No

No

No





Financing Commitments

Does the project have a firm commitment for construction financing? No

Does the project have a letter of intent for private permenant financing? Yes

Does the project have a firm commitment for government financing? Yes

Does the project have a letter of intent from an investor? Yes

Is any portion of the eligible basis of new contruction or rehabilitation financed with federal subsidies other than CDBG funds or fundsfrom the HOME program? No

If yes, indicate the type and amount below:

Tax Exempt Financing: $

RD 515 Financing: $

Hope VI Financing: $

Other: $

If Other, specify the type of Federal subsidy:





Project Operations (Year One)

Projected Operating Costs

Administrative Expenses

Advertising 500

Other Administrative Expense (specify):1,000

Office SalariesOffice Supplies 2,125

Office or Model Apartment Rent

Management Fee 18,735

Manager or Superintendent Salaries 25,600

Manager or Superintendent Rent Free Unit

Legal Expenses (Project) 840

Auditing Expenses (Project) 3,800

Bookkeeping Fees/Accounting Services

Telephone and Answering Service 2,500

Bad Debts

Other Administrative Expenses (specify):

SUBTOTAL 55,100

Utilities Expense

Fuel Oil

Electricity (Light and Misc. Power) 7,575

Water 11,500

Gas

Sewer

SUBTOTAL 19,075

Operating and Maintenance Expenses

Janitor and Cleaning Payroll 450

Janitor and Cleaning Supplies 500

Janitor and Cleaning Contract

Exterminating Payroll/Contract 900

Exterminating Supplies

Garbage and Trash Removal 7,500

Security Payroll/Contract

Grounds Payroll

Grounds Supplies 1,500

Grounds Contract 7,800

Repairs Payroll 17,000

Repairs Material 1,200

Repairs Contract

Elevator Maintenance/Contract 2,500

Heating/Cooling Repairs and Maintenance 500

Swimming Pool Maintenance/Contract

Snow Removal

Decorating Payroll/Contract 4,500

Decorating Supplies

Other (specify):

Miscellaneous Operating & Maintenance Expenses

SUBTOTAL 44,350

Taxes and Insurance

Real Estate Taxes 27,375





Payroll Taxes (FICA) 3,900

Miscellaneous Taxes, Licenses and Permits

Property and Liability Insurance (Hazard) 16,000

Fidelity Bond Insurance

Workmen's Compensation 635

Health Insurance and Other Employee Benefits 7,225

Other Insurance:

SUBTOTAL 55,135

Supportive Service Expenses

Service Coordinator 8,320

Service Supplies 4,000

Tenant Association Funds

Other Expenses (specify):

SUBTOTAL 12,320

Reserves

Replacement Reserves 15,000

SUBTOTAL 15,000

TOTAL OPERATING EXPENSES 200,980

ADJUSTED TOTAL OPERATING EXPENSES (Does not include taxes, reserves and resident support services) *

146,285

TOTAL UNITS(from total units in the Unit Mix section)

60

PER UNIT PER YEAR 2,438





Design Features

ITEM DESCRIPTION

Foundation/Slab Components Poured Footing with Slab on Grade

Primary Windows Make: Model:Weather Shield Vinyl Clad Type/Construction:

Exterior Doors Type: Frames:MTL. Clad Wood

Siding Type: Grade/Thickness:Vinyl .042

Warranty: 50 Years

Exterior Trim Vinyl

Shingles Type: Weight:Asphalt 240lbs

Warranty: 25 year

Sprinkler System NFPA 13R

Cabinets Marsh or Equal

Heat Pump SEER: Make:12 Trane

Model: Split System

Air Conditioner SEER: Make:

Model:

Other Heat Systems SEER: Make:

Model:





This is a detailed breakdown of rehabilitation or construction costs you summarized in the Development Costs table (Rehabilitation andConstruction of New Building(s)). The total should match those roll-up values.

Costs - Construction

ITEM LABOR MATERIAL TOTAL

Concrete Footings 44,185 33,665 77,850

Backfill-slab, Crawl 2,946 14,729 17,675

Slab-concrete/Rebar/Gravel 46,710 16,833 63,543

Waterproofing 1,683 421 2,104

Masonry Foundation 63,122 44,186 107,308

Brick Veneer 84,163 112,779 196,942

Steel/Structure/Rails 0 18,095 18,095

Framing/Lumber/Nails 300,883 208,304 509,187

Trusses 0 77,851 77,851

Crane Rental 17,254 0 17,254

Windows/Grilles/Screen 0 44,606 44,606Exterior Doors 0 14,308 14,308

Roofing 25,249 19,358 44,607

Fencing 0 0 0

Vinyl Siding/Trim/Box 74,747 20,199 94,946

Gutters/Shutters 0 5,471 5,471

Insulation 27,774 10,521 38,295

Drywall 85,846 98,892 184,738

Interior Doors 0 27,353 27,353

Int. & Final/Stair/Trim/Shelves 50,498 26,511 77,009

Cabinets & Tops 0 62,281 62,281

Painting 42,082 12,625 54,707

Marble - Tub/Shwr/Tops 0 29,878 29,878

Plumbing 101,838 69,435 171,273

Electrical 60,597 60,597 121,194

Heating/Air Conditioning 42,081 84,163 126,244

Floor Covering and Underlayment 24,041 64,904 88,945

Wall Paper 0 0 0

Mailboxes/Special Features/Signage 0 12,624 12,624

Gypcrete 10,520 8,416 18,936

Blinds/Shades/Art Work 0 7,575 7,575

Light Fixtures/Fans 0 9,258 9,258

Sprinkler System 29,036 18,937 47,973

Security Alarm 12,624 7,575 20,199

Hardwood Floors 0 0 0

Elevator 18,095 25,249 43,344

Ceramic Tiles 0 0 0

Acoustical Ceilings 0 0 0





Remarks:

Mirror/Shower Door/Encls. 0 0 0

Hardware/Bath Access. 0 9,258 9,258

Appliances 0 31,561 31,561

Playground Equipment 0 0 0

Interior Clean 24,828 0 24,828

Exterior Clean/Dumpster 8,416 0 8,416

Other 1 (specify in Remarks) 0 72,364 72,364

Other 2 (specify in Remarks) 0 0 0

Total Cost 1,199,218 1,380,782 2,580,000

OTHER 1: PERMITS & FEES





This is a detailed breakdown of the General Requirements cost element you summarized in the Development Costs table (GeneralRequirements). The total should match that roll-up value.

Remarks:

Costs - General

ITEM TOTAL

Supervision 68,745

Job Site Office/Trailer Rental 4,359

Impact Fees 0

Office Supplies 559

Security/Watchman 1,118

Water and Sewer Connection Fees 0

Project Signage 1,118

Tools and Equipment 15,247

Gas, Oil, and Maintenance 6,535

Cleanup/Dumpster Rental 15,247

Temporary Water, Electric, and Telephone 15,792Storage/Hauling 0

Driveway Access Permit 0

Porta-John Rental/Dumping 4,356

Builders Risk Insurance 0

Re-inspection Fees 0

Extra Plans and Specifications 0

Miscellaneous, Casual Labor 0

Equipment Rental 46,067

Other 1 (specify in Remarks)


Total Cost 179,143





This is a detailed breakdown of the Site Improvements cost element you summarized in the Development Costs table (On-siteImprovements). The total should match that roll-up value.

Remarks:

Costs - Improvements

ITEM TOTAL

Subsurface Exploration/Perk Testing/Site Engineering

Clearing/Grading/Final Grading/Excess and Borrow

Demolition

Earthwork/Excavation/Aerating 57,329

Soil Treatment

Pile Foundations

Caissons

Shoring/Bracing

Site Drainage 119,068

Site Utilities/Site Lighting 37,054

Paving and Surfacing/Curb and Gutter 57,321Walkways 37,925

Site Signage 7,055

Parking Lot Painting 1,764

Dumpsite Pads/Fencing

Fencing/Gates

Landscaping/Topsoil 88,198

Waterproofing/De-Watering

Operation of Construction Equipment/Fuel/Oil

Crane Rental

Rock and Hardpan Excavation

Site Supervision Personnel

Other (specify in Remarks)

Total Cost 405,714





This is a detailed breakdown of the Bond Costs cost element you summarized in the Development Costs table (Bond Costs). The totalshould match that roll-up value.

Remarks:

Costs - Bond Costs

ITEM TOTAL

Letter of Credit Fee

Credit Enhancement

Underwriter Discount

Capital Interest Fund



Total Cost 0





This is a detailed breakdown of the Bond Issuance cost element you summarized in the Development Costs table (Cost of Issuance). Thetotal should match that roll-up value.

Remarks:

Costs - Bond Issuance

ITEM TOTAL

Bond Counsel

Issuer Counsel

Credit Enhancement/LOC Counsel

Underwriter Counsel

Developer's Counsel

Rating Agency Fee

Printing

Trustee Fee

Trustee Counsel


Other 2 (specify in Remarks)Other 3 (specify in Remarks)

Total Cost 0





MINIMUM REQUIRED SET ASIDES (No Points Awarded):

Minimum Set-Asides

Select one of the following two options:

20% of the qualified units are rent restricted and occupied by households with incomes at or below 50% of the median income (Note:No Tax Credit Eligble Units in the the project can exceed 50% of median income)

40% of the qualified units are rent restricted and occupied by households with incomes at or below 60% of the median income (Note:No Tax Credit Eligble Units in the the project can exceed 60% of median income)

If requesting RPP funds:

40% of the qualified unit are occupied by households with incomes at or below 50% of median income.

State Tax Credit and QAP Targeting Points:

High Income county:

At least twenty-five percent (25%) of qualified units will be affordable to households with incomes at or below thirty percent (30%) ofcounty median income.

At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below thirtypercent (30%) of county median income.

At least fifty percent (50%) of qualified units will be affordable to households with incomes at or below forty percent (40%) of countymedian income.

At least fifty percent (50%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.

Moderate Income County:

At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below fortypercent (40%) of county median income.

At least fifty percent (50%) of qualified units will be affordable to households with incomes at or below fifty percent (50%) of county

median income.At least fifty percent (50%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent(50%) of county median income.

Low Income County:

At least forty percent (40%) of qualified units will be affordable to households with incomes at or below fifty percent (50%) of countymedian income.

At least forty percent (40%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent(50%) of county median income.

Tax Exempt Bonds

Threshold requirement (select one):

At least ten percent (10%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent

(50%) of county median income.

At least five percent (5%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.

Eligible for mortgage subsidy points (select one):

At least twenty percent (20%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent(50%) of county median income.

At least ten percent(10%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.





PLEASE indicate which of the following exhibits are attached to your application. Others may be required as noted.

Full Application Checklist

A Nonprofit Organization Documentation or For-profit Corporation Documentation

B Current Financial Statements/Principals and Owners

C Ownership Entity Agreement, Development Agreement or any other agreements governing development services

D Management Agent Agreement

E Development and manager multi-family experience & Management Questionnaire (Appendix C)

F Letters from State Housing Agencies or designated monitoring agent verifying Out of State Management Experience

G Completed IRS Form 8821 (Appendix I)

H Permitted zoning letter (including conditional and special use)

I Site plan, floor plans and elevations

J Hazard and structural inspection and termite reports (Renovation projects only)

K Description of any existing conditions of historical significance.

L Description of environmental significance.

M Anticipated budget demonstrating how the project would meet the 10% test by November 14th.

N Evidence of Architect's Errors and Omissions insurance (or equivalent).

O Description of acquisition for existing/occupied projects or for projects with occupied buildings to be demolished.

P Description of proposed Relocation Plan & Relocation Budget, Etc. If any relocation is anticipated, reference Appendix F.

Q Targeting Plan and supporting documentation (Required for projects targeted to Special Populations)

R Local Housing Authority Agreement (Reference Model in Appendix I)

S Appraisal (for land costs greater than $5,000 and for buildings in rehab projects)

T Evidence of Permanent Loan Commitment, other sources of funds, and project-based subsidies.

U Statement regarding terms of Deferred Developer Fee and, if nonprofit, resolution of Board approving fee.

V Inducement Resolution (Tax-Exempt Bond Financed Projects only)

W Documentation to support estimated utility costs.


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