Burnt Ordinary Village

8/7/2019 Burnt Ordinary Village

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2010 Federal Low Income HousingTax Credit Program

Application For Reservation

v1/8/2010

Virginia Housing Development Authority601 South Belvidere StreetRichmond, Virginia 23220-6500

Deadline for Submission

9% Competitive CreditsApplications Must Be Received At VHDA No Later Than 2:00

PM Richmond, VA Time On March 12, 2010

Tax Exempt BondsApplications should be received at VHDA at least one month

before the bonds are priced (if bonds issued by VHDA), or 75days before the bonds are issued (if bonds are not issued by

VHDA)

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Low Income Housing Tax Credit Application for Reservation

Electronic Copy of the Microsoft Excel Based Application (MANDATORY)Scanned Copy of the Signed Tax Credit Application with Attachments (excluding market study and plans & specs) (MANDATOElectronic Copy of the Market Study (MANDATORY-Application will be disqualified if study not submitted with application)Electronic Copy of the Plans (MANDATORY)Electronic Copy of the Specifications (MANDATORY)Electronic Copy of the Unit By Unit Work Writeup (MANDATORY if rehab)$750 Application Fee (MANDATORY )

Tab A: Documentation of Development Location:A.1 Qualified Census Tract CertificationA.2 Revitalization Area Certification

Location MapSurveyor's Certification of Proximity To Public Transportation

Tab B: Partnership or Operating Agreement, including chart of ownership structure with percentage of interests (MANDATORTab C: Virginia State Corporation Commission Certification (MANDATORY)Tab D: Principal's Previous Participation Certification and Resum (MANDATORY)Tab E: Nonprofit Questionnaire (MANDATORY for points or pool)

The following documents need not be submitted unless requested by VHDA:-Nonprofit Articles of Incorporation -IRS Documentation of Nonprofit Status-Joint Venture Agreement (if applicable) -For-profit Consulting Agreement (if applicable)

Tab F: Architect's Certification (MANDATORY)Tab H: PHA / Section 8 Notification LetterTab I: Local CEO LetterTab J: Homeownership PlanTab K: Site Control Documentation & Most Recent Real Estate Tax Assessment (MANDATORY)

Tab L: Plan of Development Certification LetterTab M: Zoning Certification LetterTab N: Copies of 8609s To Certify Developer ExperienceTab O: (Reserved)Tab P: Plans and Specifications and Work Write-Up (MANDATORY)Tab Q: Documentation of Rental AssistanceTab R: Documentation of Operating BudgetTab S: Documentation of Project BudgetTab T: Documentation of Financing SourcesTab U:

Documentation To Request Exception To Restriction-Pools With Little/No Increase In Rent Burdened PopulationDocumentation of site location in an urban development area as defined in 15.2-2223.1of the Code of VirginiaDocumentation of the development participating in a locally adopted affordable housing dwelling unit program area as

described in either 15.2-2304 or 15.2-2305 of the Code of VirginiaTab V: Nonprofit or LHA Purchase Option or Right of First RefusalTab W: Attorney's Opinion (MANDATORY)Tab X: (Reserved)Tab Y: Marketing Plan for units meeting accessibility requirements of HUD section 504

Please indicate if the following items are included with your application by checking the appropriate boxes. Your assistance in organizing thesubmission in the following order, and actually using tabs to mark them as shown, will facilitate review of your application. Please note that allmandatory items must be included for the application to be processed. The inclusion of other items may increase the number of points for whichyou are eligible under VHDA's point system of ranking applications, and may assist VHDA in its determination of the appropriate amount of credits that it may reserve for the development.

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Low-Income Housing Tax Credit Application For Reservation

VHDA TRACKING NUMBER 2010-C-23I. General Information

All code "Section" references are to, and the term "IRC" shall be deemed to mean, 3/1/10the Internal Revenue Code of 1986, as amended. (Date of Application)

A. Development Name and Location:1. Name of Development Burnt Ordinary Village Apartments2. Address of Development 3316 Toano Drive

(Street)Toano Virginia 23168

(City) (State) (Zip Code)

3. If complete address is not available, provide longitude and latitude coordinates (x,y) fromlocation on site your surveyor deems appropriate.

Documentation from surveyor attached (TAB A) (Only necessary if street address or street intersections are not available.(Coordinates should be the same as those listed on pg 13, if applicable)

4. The Circuit Court Clerk's office in which the deed to the property is or will be recorded:City/County of James City County (ie; Richmond City, Chesterfield County; see application manual)

5. Does the site overlap one or more jurisdictional boundaries? Yes NoIf yes, what other City/County is the site located in besides the one mentioned above?

6. Census Tract the development is located in: 804.02

Is this a Qualified Census Tract: Yes No (If yes, attach required form in TAB A)

7. Is the development located in a Difficult Development Area? No

8. Is the development located in a revitalization area? Yes No (If yes, attach required form in TAB A)

9. Is the development an existing RD or HUD S8/236 development? Yes No (If yes, attach required form in TAB Q)Note to #9: If there is an identity of interest between the applicant and the seller in this proposal, and the applicant is seeking points inthis category, then the applicant must either waive their rights to the developer's fee or other fees associated with acquisition and/orrehabilitation, or obtain a waiver of this requirement from VHDA prior to application submission to receive these points.

a. Applicant agrees to waive all rights to any developer's fee orother fees associated with acquisition and/or rehab. Yes n/a

b. Applicant has obtained a waiver of this requirement from VHDAprior to the application submission deadline. Yes n/a

10. Is the development located in a census tract with a povertyrate


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Low Income Housing Tax Credit Application For Reservation

C. Reservation Request

1. Total annual credit amount request (Must be the same as Part IX-D8) $147,814

2. Credits requested from:

9% CreditsNonprofit Set-Aside (All nonprofit owned developments which meet tests

described in Part II-D hereof may select this)Local Housing Authorities Richmond MSA PoolPlanning District 8 (Inner Washington MSA) Pool Tidewater MSA Pool

Northwest / North Central VA Area Pool Balance of State Pool (Remaining Geographi

Non-Competitive Pool (Preservation) Non-Competitive Pool (Disability)

Tax Exempt Bonds

new construction, or

rehabilitation, or

acquisition and rehabilitation.

Federal SubsidiesThe development will not receive federal subsidies.

This development will receive federal subsidies for:all buildings or

some buildings.

D. Type(s) of Allocation/Allocation Year

1. Regular Allocation

All of the buildings in the development are expected to be placed

in service this year. For those buildings the owner will, this year, request anallocation of 2010 credits for new construction, or

rehabilitation, or

acquisition and rehabilitation.

2. Carryforward Allocation

All of the buildings in the development are expected to be placedin service within two years after the end of this calendar year, 2010, but theowner will have more than 10% basis in the development before the end of twelvemonths following allocation of credits. For those buildings, the owner requestsa carryforward allocation of 2010 credits pursuant to Section 42(h)(1)(E) for:

new construction, or

rehabilitation, oracquisition and rehabilitation (even if you acquired a building this year and

"placed it in service" for the purpose of the acquisition credit, you cannot receivethe 8609 form for it until the rehab 8609 is issued for that building once the rehabwork is "placed in service" in 2011 or 2012).

3. Federal SubsidiesThe development will not receive federal subsidies.

This development will receive federal subsidies for:all buildings or

some buildings.

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E. Acquisition Credit Information

NOTE: If no credits are being requested for existing buildings being acquired for the development, so indicate and go on to Part F: No Acquisition

Ten-Year Rule For Acquisition Credits

All buildings satisfy the 10-year look-back rule of IRC Section 42 (d)(2)(B), including the10% basis/ 15,000.00 rehab costs ( 10,000 for Tax Exempt Bonds) per unit requirement.

All buildings qualify for an exception to the 10-year rule under IRC Section 42(d)(2)(D)(i),Subsection (I)Subsection (II)Subsection (III)Subsection (IV)Subsection (V)

The 10-year rule in IRC Section 42 (d)(2)(B) for all buildings does not apply pursuant to IRC Section 42(d)(6).

Different circumstances for different buildings: Attach a separate sheet and explain for each building.

F. Rehabilitation Credit Information

NOTE: If no credits are being requested for rehabilitation expenditures, so indicate and goon to Section II. No Rehabilitation

Minimum Expenditure Requirements

All buildings in the development satisfy the rehab costs per unit requirement of IRCSection 42(e)(3)(A)(ii).All buildings in the development qualify for the IRC Section 42(e)(3)(B) exception to the10% basis requirement (4% credit only).All buildings in the development qualify for the IRC Section 42(f)(5)(B)(ii)(II) exception.

Different circumstances for different buildings. Attach a separate sheet andexp a n or eac u ng.

G. Request For Exception

The proposed new construction development (including adaptive reuse and rehabilitation that creates additional rentalspace) is subject to an assessment of up to minus 20 points for being located in a pool identified by the Authority as a powith little or no increase in rent burdened population. N/A - Does not apply to this proposed development.

Applicant seeks an exception to this restriction in accordance with one of the following provisions under 13VAC10-180-

Proposed development is specialized housing designed to meet special needs that cannot readily be addressedutilizing existing residential structures. Documentation Attached (TAB U)

Proposed development is designed to serve as a replacement for housing being demolished throughredevelopment. Documentation Attached (TAB U)

Proposed development is housing that is an integral part of a neighborhood revitalization project sponsored bya local housing authority. Documentation Attached (TAB U)

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II. OWNERSHIP INFORMATION

A. Owner Information:Name Burnt Ordinary Village Limited PartnershipContact Person First: Adam Middle: J Last: StockmasterAddress 15825 Shady Grove RD, Suite 55

(Street)Rockville Maryland 20850

(City) (State) (Zip Code)

Federal I. D. No. 26-1889516 (If not available, obtain prior to Allocation)Phone 301-365-9314 Fax 301-365-9335 Email address [email protected] of entity: Limited Partnership Other

Individual(s) CorporationOwner's organizational documents (e.g. Partnership agreements & ownership structure chart) attached (Mandatory TAB B)Certification from Virginia State Corporation Commission attached (Mandatory TAB C)

Principal(s) involved (e.g. general partners, LLC members, controlling shareholders, etc.)Names ** Phone Type Ownership % OwnershipAS Squared, LLC 301-365-9314 General Partner 90.00%Adam Stockmaster Managing Member 0.00%Ari Severe Member 0.00%Telamon Corporation 919-851-7611 General Partner 10.00%Richard Joanis Executive Director 0.00%

0.00%0.00%

This should be 100% of the GP or managing member interest: 100.00%

** These should be the names of individuals who comprise the GP or managing members, not simply the names of separate partnerships or corporations which may comprise those components.

Principals' Previous Participation Certification attached (Mandatory TAB D) & resum .

B. Seller Information:Name Toano III Limited Partnership Contact PersonRobert B. MargolisAddress 15825 Shady Grove RD, Suite 55Rockville, Maryland 20850 Phone 301-365-9335

Is there an identity of interest between the seller and owner/applicant? Yes No

If yes, complete the following:

Principal(s) involved (e.g. general partners, controlling shareholders, etc.)Names Phone Type Ownership % Ownership

0.00%0.00%0.00%0.00%

NOTE: VHDA may allocate credits only to the tax-paying entity which owns the development at the time of the allocation. The term "Owner" herein refers to that entity. Please fill in the legalname of the owner. The ownership entity must be formed prior to submitting this application. Any transfer, direct or indirect, of partnership interests (except those involving the admission of limited partners) prior to the placed-in-service date of the proposed development shall be prohibited, unless the transfer is consented to by VHDA in its sole discretion. IMPORTANT: TheOwner name listed on this page must match exactly the owner name listed on the Virginia State Corporation Commission Certification.

Must be an individual or legally formed entity

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C. Development Team Information:Complete the following as applicable to your development team.

1. Tax Attorney: Allison T. Domson, Esq. Related Entity? Yes NoFirm Name: Williams MullenAddress: 1021 East Cary Street, Suite 1700, Richmond, Virginia 23219

Phone: 804-783-6465 Fax: 804-783-6507

2. Tax Accountant: Todd Fentress Related Entity? Yes NoFirm Name: Fentress and Barnes LLCAddress: 8001 Ravines Edge Court, Suite 112, Columbus, Ohio 43235Phone: 614-825-0011 Fax: 614-825-0014

3. Consultant: Related Entity? Yes NoFirm Name: Role:Address:Phone: Fax:

4. Management Entity (Contact): Lester D. Severe Related Entity? Yes NoFirm Name: TM Associates Management, IncAddress: 15825 Shady Grove RD, Suite 55, Rockville, Maryland 20850Phone: 240-683-0300 Fax: 240-683-0727

5. Contractor (Contact): Larry B. Canterbury, Jr. Related Entity? Yes NoFirm Name: Canterbury Construction, In cAddress: 118 East Main Street, Oak Hill, West Virginia 25901Phone: 304-469-6352 Fax: 304-465-0425

6. Architect: Richard "Rick" Ruhf Related Entity? Yes NoFirm Name: Ruhf, Plitt ArchitectsAddress: 100 Cathedral Street, Suite 5, Annapolis, Maryland 21401Phone: 410-257-6589 Fax: 410-257-6590

7. Real Estate Attorney: Allison T. Domson, Esq. Related Entity? Yes NoFirm Name: Williams MullenAddress: 1021 East Cary Street, Suite 1700, Richmond, Virginia 23219Phone: 804-783-6465 Fax: 804-783-6507

8. Mortgage Banker: Related Entity? Yes NoFirm Name:Address:Phone: Fax:

9. Other (Contact): Related Entity? Yes NoFirm Name: Role:Address:Phone: Fax:

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D. Nonprofit Involvement:

Tax Credit Nonprofit Pool Applicants: To qualify for the nonprofit pool, an organization described in IRC Section 501(c)(3) or 501 (c)(4) and exempt from taxation under IRC Section 501 (a), whose purposes include the fostering of low-income housing:

1. Must "materially participate" in the development and operation of the project throughout the compliance period,2. Must own all general partnership interests in the development .3. Must not be affiliated with or controlled by a for-profit organization.4. Must not have been formed for the principal purpose of competition in the nonprofit pool, and5. Must not have any staff member, or member of the nonprofit's board of directors materially participate in the proposed project

as a for-profit entity.

pp cants: To qualify for points under the ranking system, the nonprofit's involvement need not necessarilysatisfy all of the requirements for participation in the nonprofit tax credit pool

1. Nonprofit Involvement (All Applicants)If there is no nonprofit involvement in this development, please indicate by checking here

and go on to part III

2. Mandatory QuestionnaireIf there is nonprofit involvement, you must complete the Non-Profit Questionnair

Questionnaire attached (Mandatory TAB E)

3. Type of involvementNonprofit meets eligibility requirement for points only, not pool o

Nonprofit meets eligibility requirements for nonprofit pool and points

4. Identity of Nonprofit (All nonprofit applicants)The nonprofit organization involved in this development is

the Ownerthe Applicant (if different from Owner)Other

Telamon Corporation(Name of nonprofit)

Richard Joanis 5560 Munford RD, Suite 201(Contact Person) (Street Address)

Raleigh North Carolina 27612(City) (State) (Zip code)919-851-7611 919-851-1139

(Phone) (Fax)

5. Percentage of Nonprofit Ownership (All nonprofit applicants)Specify the nonprofit entity's percentage ownership of the general partnership interest: 10.0%

Applications For 9% Credits - Must be completed in order to compete in the nonprofit tax credit pool.All Applicants - Must be completed for points for nonprofit involvement under the ranking system.

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III. DEVELOPMENT INFORMATION

A. Structure and Units:1. Total number of all units in development 22

Total number of rental units in development 22 bedrooms 22Number of low-income rental units 22 bedrooms 22Percentage of rental units designated low-income 100.00%

2. The development's structural features are (check all that apply):

Row House/Townhouse Detached Single-familyGarden Apartments Detached Two-familySlab on Grade Basement

Crawl space Age of Structure: 20Elevator Number of stories: 1

3. Number of new units 0 bedrooms 0Number of adaptive reuse units 0 bedrooms 0Number of rehab units 22 bedrooms 22

4. Total Floor Area For The Entire Development 14,739.64 (Sq. ft.)

5. n eate oor rea (Breezeways, Balconies, Storage) 1,372.00 (Sq. ft.)

6. Nonresidential Commercial Floor Area 0.00 (Sq. ft.)(Not eligible for funding)

7. Total Usable Residential Heated Area 13,367.64 (Sq. ft.)

8. Number of Buildings (containing rental units) 6

9. Commercial Area Intended Use: N/A

10. Project consists primarily of a building(s) which is (are (CHOOSE ONLY ONE)

Low-Rise (1-5 stories with any structural elements made of wood)

Mid-Rise (5-7 stories with no structural elements made of wood)

High-Rise (8 or more stories with no structural elements made of wood)

11. a. Total Net Rental Square Feet 11,701.14

b. Percentage of Net Rentable Square Feet Deemed To Be New Rental Space 0.00%

B. Building Systems:Please describe each of the following in the space provided.Community Facilities: Laundry Room, Maintenance Facilities, Rental Office and ProposedCommunity RoomExterior Finish: Vinyl SidingHeating/AC System: Central Split-SystemArchitectural Style: One-Story Garden Style

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C. Amenities:

1. Specify the average size per unit type: (Including pro rata share of heated common area)Assisted Lvg 0.00 SF 1Bdrm Eld 0.00 SF 3-Bdrm Gar 0.00 SF1-Sty-Eff-Eld 0.00 SF 2Bdrm Eld 0.00 SF 4-Bdrm Gar 0.00 SF1-Sty 1BR-Eld 607.62 SF Eff-Gar 0.00 SF 2+Sty 2BR TH 0.00 SF1-Sty 2BR-Eld 0.00 SF 1-Bdrm Gar 0.00 SF 2+Sty 3BR TH 0.00 SFEff-Eld 0.00 SF 2-Bdrm Gar 0.00 SF 2+Sty 4BR TH 0.00 SF

2. Total gross usable, heated square feet for the entire project less nonresidential commercial area:

13,367.64 Documentation attached (TAB F) Mandatory(Sq. ft.)

NOTE: All developments must meet VHDA's Minimum Design and Construction Requirements .By signing and submitting the Application For Reservation of Low Income Housing Tax Credits theapplicant certifies that the proposed project budget, plans & specifications and work write-ups incorporateall necessary elements to fulfill these requirements.

3. Check the following items which apply to the proposed project:Documentation attached (TAB F Architect Certification) Mandatory

For any project, upon completion of construction/rehabilitation: (Optional Point items)

0% a(1) Percentage of 2-bedroom units that have 1.5 bathrooms

0% a(2) Percentage of 3 or more bedroom units that have 2 bathrooms

b. A community/meeting room with a minimum of 749 square feet is provided

0% c. Percentage of exterior walls covered by brick (excluding triangular gable ends, doors and windows)

d. All kitchen and laundry appliances meet the EPA's Energy Star qualified program requirements

e. All windows meet the EPA's Energy Star qualified program requirements

f. Every unit in the development is heated and cooled with either (i) heat pump equipment with both aSEER rating of 15.0 or more and a HSPF rating of 8.5 or more , or (ii) air conditioning equipmentwith a SEER rating of 15.0 or more, combined with gas furnaces with an AFUE rating of 90% ormore

g. Water expense is sub-metered (the tenant will pay monthly or bi-monthly bill)

h. Each bathroom consists only of low-flow faucets (2.2 gpm max.) and showerheads (2.5gpm max.)

i. Provide necessary infrastructure in all units for high speed cable, DSL or wireless internet sevice

j. All water heaters meet the EPA's Energy Star qualified program requirements.

k. Every unit in the development will be heated and cooled with a geothermal heat pump that meetsEPA Energy Star qualified program requirements.

l. The development will have a solar electric system that will remain unshaded year round, be orientedto within 15 degrees of true south, and be angled horizontally within 15 degrees of latitude.

Expected Total Electrical Load (kilowatt hours per month): 0

Percent of Expected Load Offset By Solar Electric System: 0.00%

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Low Income Housing Tax Credit Application For Reservation

For all projects exclusively serving elderly and/or handicapped tenants, upon completionof construction/rehabilitation: (Optional Point items)

a. All cooking ranges will have front controls

b. All units will have an emergency call system

c. All bathrooms will have an independent or supplemental heat source

d. All entrance doors have two eye viewers, one at 48" and the other at standard height

For all rehabilitation and adaptive reuse projects, upon completion of construction oror rehabilitation: (Optional Point items)

The structure is listed individually in the National Register of Historic Places or islocated in a registered historic district and certified by the Secretary of the Interior asbeing of historical significance to the district, and the rehabilitation will be completedin such a manner as to be eligible for historic rehabilitation tax credits

Accessibility

Check one or none of the following point categories, as appropriate:

For any non-elderly property in which the greater of 5 or 10% of the units will be subject to federal project-based rentsubsidies or equivalent assistance in order to ensure occupancy by extremely low-income persons; and (ii) the greater of 5units or 10% of the units will conform to HUD regulations interpreting accessibility requirements of section 504 of theRehabilitation Act; and be actively marketed to people with special needs in accordance with a plan submitted as part of theApplication. (All of the units described in (ii) above must include roll-in showers and roll under sinks and front controls forranges, unless agree to by the Authority prior to the applicant's submission of its application).

For any non-elderly property in which the greater of 5 or 10% of the units (i) have rents within HUDs Housing ChoiceVoucher (HCV) payment standard; (ii) conform to HUD regulations interpreting accessibility requirements of section 504 of the Rehabilitation Act; and (iii) are actively marketed to people with mobility impairments, including HCV holders, inaccordance with a plan submitted as part the Application.

For any non-elderly property in which at least four percent (4%) of the units conform to HUD regulations interpretingaccessibility requirements of section 504 of the Rehabilitation Act and are actively marketed to people with mobilityimpairments in accordance with a plan submitted as part of the Application.

Earthcraft or LEED Development CertificationApplicant agrees to obtain Earthcraft or LEED certification prior to issuance of IRS Form 8609. Architectcertifies in the Architect Certification that the development's design will meet the criteria for such certification.

Yes - Earthcraft Yes - LEEDIf Yes to either, attach appropriate documentation at TAB F

Universal Design - Units Meeting Universal Design Standardsa. The architect of record certifies that units will be constructed to meet VHDA's Universal Design standards.

Yes No If Yes, attach appropriate documentation at TAB F

b. Number of Rental Units constructed to meet VHDA's Universal Design standards:0 Units 0%

VHDA Certified Property Management AgentOwner agrees to use a VHDA Certified Property Management Agent to manage the property.

Yes No

Yes No N/A The market-rate units' amenities are substantially equivalent to those of thelow-income units. If no, explain differences:

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V. LOCAL NEEDS AND SUPPORT

Note: Please refer to the Application Manual for specific instructions and deadlines for pertaining to localitynotification of proposed Low income Housing Tax Credit developments.

A. Provide the name and the address of the chief executive officer (City Manager, Town Manager, orCounty Administrator) of the political jurisdiction in which the development will be located:

Chief Executive Officer's Name Sanford B. WannerChief Executive Officer's Title County AdministratorStreet Address 101 Mounts Bay Road Phone 757-253-6728City Williamsburg State Virginia Zip 23187

Name and title of local official you have discussed this project with who could answer questions for thlocal CEO: Richard "Rick" Hanson, Director of James City County Office of Housing and Community Development

If the property overlaps another jurisdiction please fill in the following:Chief Executive Officer's NameChief Executive Officer's TitleStreet Address PhoneCity State Zip

Name and title of local official you have discussed this project with who could answer questions for thlocal CEO:

B. Project Schedule

ACTUAL OR NAME OFACTIVITY ANTICIPATED PERSON

DATE RESPONSIBLESiteOption/Contract 3/5/10 Adam J. StockmasterSite Acquisition 11/1/10 Adam J. StockmasterZoning Approval 3/2/10 Adam J. StockmasterSite Plan Approval 3/2/10 Adam J. StockmasterFinancingA. Construction Loan

Loan Application 9/1/10 Ryan RielConditional Commitment 10/1/10 Ryan RielFirm Commitment 10/1/10 Ryan Riel

B. Permanent Loan - First LienLoan Application 9/1/10 E. Bennett AtwillConditional Commitment 10/1/10 E. Bennet t AtwillFirm Commitment 10/1/10 E. Bennett Atwill

C. Permanent Loan-Second LienLoan Application 3/1/10 Byron WatersConditional Commitment 3/4/10 Byron WatersFirm Commitment 8/31/10 Byron Waters

D. Other Loans & Grants

Type & Source, ListApplicationAward/Commitment

Formation of Owner 2/6/08 Adam J. StockmasterIRS A pproval of Nonprofit Status 3/73 Richard A. JoanisClosing and Transfer of Property to Owner 11/1/10 Adam J. StockmasterPlans and Specifications, Working Drawings 3/1/10 Richard Ruhf Building Permit Issued by Local Government 11/1/10 Larry B. CanterburyStart Construction 3/1/10 Adam J. StockmasterBegin Lease-up 3/1/10 Adam J. StockmasterComplete Construction 12/1/11 Adam J. StockmasterComplete Lease-Up 12/1/11 Adam J. StockmasterCredit Placed in Service Date 11/10- Acq. 12/11-Rehab Adam J. Stockmaster

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VI. SITE CONTROL

A. Type of Site Control by Owner:

Applicant controls site by (select one and attach document - Mandatory TAB K)Deed - attached

Long-term Lease - attached (expiration date: )

Option - attached (expiration date: )

Purchase Contract - attached (expiration date: 07/31/11 )

If more than one site for the development and more than one form of site control, please so indicateand attach a separate sheet specifying each site, number of existing buildings on the site, if any,

type of control of each site, and applicable expiration date of form of site control. A site controldocument is required for each site.

Most recent property tax assessment - Mandatory TAB K

B. Timing of Acquisition by Owner:Select one:

Owner already controls site by either deed or long-term lease or

Owner is to acquire property by deed (or lease for period no shorter than period propertywill be subject to occupancy restrictions) no later than 11/01/10

If more than one site for the development and more than one expected date of acquisition byOwner, please so indicate and attach separate sheet specifying each site, number of existingbuildings on the site, if any, and expected date of acquisition of each site by the Owner.

C. Market Study Data:

Obtain the following information from the Market Study conducted in connection with this tax credit application and enter below:

Project Wide Capture Rate - LIHTC UnitsProject Wide Capture Rate - Market UnitsProject Wide Capture Rate - All UnitsProject Wide Absorption Period (Months)

6.00%0.00%6.00%

5

Note: Site control by the Owner identified herein is a mandatory precondition of review of this application. Documentary evidence of it,in the form of either a deed, option, purchase contract, or lease for a term longer than the period of time the property will be subject tooccupancy restrictions must be included herewith. (9% Competitive Credits - An option or contract must extend beyond the

application deadline by a minimum of four months.)

Warning: Site control by an entity other than the Owner, even if it is a closely related party, is not sufficient. Anticipated future transfersto the Owner are not sufficient. The Owner, as identified in Subpart II-A, must have site control at the time this Application issubmitted.

NOTE: If the Owner receives a reservation of credits, the property must be titled in the name of or leased by (pursuant to a long-termlease) the Owner before the allocation of credits is made this year.

Contact us before you submit this application if you have any questions about this requirement.

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C. Site Description

1. Exact area of site in acres 2.813

2. Has locality approved a final site plan or plan of development?Yes NoRequired documentation form attached (TAB L)

3. Is site properly zoned for the proposed development?Yes NoRequired documentation form attached (TAB M)

4. Will the proposal seek to qualify for points associated with proximity to public transportation?Yes NoRequired documentation form attached (TAB A)

D. Plans and Specifications

Minimum submission requirements for all properties (new construction, rehabilitation and adaptive reuse)

1. A location map with property clearly defined.2. Sketch plan of the site showing overall dimensions of main building(s), major site elements

(e.g., parking lots and location of existing utilities, and water, sewer, electric,gas in the streets adjacent to the site). Contour lines and elevations are not required.

3. Sketch plans of main building(s) reflecting overall dimensions of:a. Typical floor plan(s) showing apartment types and placementb. Ground floor plan(s) showing common areas;c. Sketch floor plan(s) of typical dwelling unit(s);d. Typical wall section(s) showing footing, foundation, wall and floor structure.

Notes must indicate basic materials in structure, floor and exterior finish.4. Required documentation for rehabilitation properties: A unit-by-unit work write-up.

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VII. OPERATING BUDGET

A. Rental Assistance1. Do or will any low-income units receive rental assistance?

Yes No2. If yes, indicate type of rental assistance:

Section 8 New Construction Substantial Rehabilitation

Section 8 Moderate RehabilitationSection 8 Certificates

Section 8 Project Based Assistance

RD 515 Rental Assistance

Section 8 Vouchers

State AssistanceOther:

3. Number of units receiving assistance: 22Number of years in rental assistance contract: 1-year auto-renewalExpiration date of contract: N/A

Contract or other agreement attached (TAB Q)

B. Utilities1. Monthly Utility Allowance Calculations

Utilities Type of Utility Utilities Enter Allowances by Bedroom Size(Gas, Electric, Oil, etc.) Paid by: 0-bdr 1-bdr 2-bdr 3-bdr 4-br

Heating Electric Owner X Tenant 0 18 0 0 0

Air Conditioning Electric Owner X Tenant 0 18 0 0 0

Cooking Electric Owner X Tenant 0 16 0 0 0

Lighting Electric Owner X Tenant 0 16 0 0 0

Hot Water Electric Owner X Tenant 0 15 0 0 0

Water X Owner Tenant 0 0 0 0 0

Sewer X Owner Tenant 0 0 0 0 0

Trash X Owner Tenant 0 0 0 0 0

Total utility allowance for costs paid by tenant $0 $83 $0 $0 $0

2. Source of Utility Allowance Calculation (Attach Documentation TAB Q)

HUD

Utility Company (Estimate) Local PHA

Utility Company (Actual Survey) Other: USDA-RD

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C. Revenue1. Indicate the estimated monthly income for the Low-Income Units : **

Total Number of Total MonthlyTax Credit Units Rental Income

0 $022 $14,3000 $00 $00 $0

22

Plus Other Income Source (list): Laundry, Tenant Charges & Interest $116Equals Total Monthly Income: $14,416Twelve Months x12Equals Annual Gross Potential Income $172,998Less Vacancy Allowance ( 7.0% ) $12,110Equals Annual Effective Gross Income (EGI) - Low Income Unit $160,888

** Beginning at Row 75 enter the appropriate data for both tax credit and market rate units in the yellow shaded cells.

2. Indicate the estimated monthly income for the Market Rate Units : **

Total Number of Total MonthlyMarket Units Rental Income

0 $00 $0

0 $00 $00 $0

Total Number of Market Units 0

Plus Other Income Source (list): $0Equals Total Monthly Income: $0Twelve Months x12Equals Annual Gross Potential Income $0Less Vacancy Allowance ( 0.0% ) $0Equals Annual Effective Gross Income (EGI) - Market Rate Units $0

Documentation in Support of Operating Budget attached (TAB R)

List number of units by type: TOTAL UNITS

ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR

0 0 0 0 0 0

2 BD RM-GAR 3 BD RM-GAR 4 BD RM-GAR 2+Story 2 BR-TH 2+Story 3 BR-TH 2+Story 4 BR-TH

0 0 0 0 0 0

1 STY-EFF-ELD 1 STY-1 BR-ELD 1 STY-2 BR-ELD Note: Please be sure to enter the number of units in the

0 22 0 appropriate unit category. If not, you will find an error on

the scoresheet at 5a, 6a & 6b.

List number of units by type: TAX CREDIT UNITS

ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR

0 0 0 0 0 0

2 BD RM-GAR 3 BD RM-GAR 4 BD RM-GAR 2+Story 2 BR-TH 2+Story 3 BR-TH 2+Story 4 BR-TH

0 0 0 0 0 0

1 Story-EFF-ELD 1 Story-1 BR-ELD 1 Story-2 BR-ELD

0 22 0

Efficiency UnitsUnit Type / Net Rentable Monthly Rent Total

Rent Targeting Number Units Square Feet Per Unit Monthly Rent

Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$

Efficiency Units

4 Bedroom Units

Unit Type

Unit Type

1 Bedroom Units2 Bedroom Units3 Bedroom Units

Total Number of Tax Credit Units

Efficiency Units

4 Bedroom Units

1 Bedroom Units

2 Bedroom Units3 Bedroom Units

v12.31.09 Page 15


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Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$Efficiency - 40% 0 0.00 -$ -$

Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$Efficiency - 50% 0 0.00 -$ -$

Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Efficiency - 60% 0 0.00 -$ -$Total Efficiency Total Monthly Eff.

Tax Credit Units: 0 0.00 Tax Credit Rent: -$

Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$Efficiency - Market 0 0.00 -$ -$

Total EfficiencyMarket Units: 0 0.00 Total Monthly

Eff. Market Rent: -$

Total Eff. Units: 0 Total Eff. Rent -$

1-Bedroom UnitsNet Rentable Monthly Rent Total


1 BR - 40% 3 531.87 650$ 1,950$v12.31.09 Page 15


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1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$

1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$1 BR - 40% 0 0.00 -$ -$

1 BR - 50% 19 531.87 650$ 12,350$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$

1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$1 BR - 50% 0 0.00 -$ -$

1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$1 BR - 60% 0 0.00 -$ -$Total 1-BR Total Monthly 1-BR

Tax Credit Units: 22 11,701.14 Tax Credit Rent: 14,300$

1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$1 BR - Market 0 0.00 -$ -$

Total 1-BR

Market Units: 0 0.00 Total Monthly

1-BR Market Rent: -$

Total 1-BR Units: 22 Total 1-BR Rent 14,300$

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2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$

2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$2 BR - 40% 0 0.00 -$ -$

2 BR - 50% 0 0.00 -$ -$2 BR - 50% 0 0.00 -$ -$2 BR - 50% 0 0.00 -$ -$2 BR - 50% 0 0.00 -$ -$


2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$

2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$2 BR - 60% 0 0.00 -$ -$Total 2-BR Total Monthly 2-BR


2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$2 BR - Market 0 0.00 -$ -$v12.31.09 Page 15


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22/212

3 BR - Market 0 0.00 -$ -$3 BR - Market 0 0.00 -$ -$3 BR - Market 0 0.00 -$ -$3 BR - Market 0 0.00 -$ -$3 BR - Market 0 0.00 -$ -$3 BR - Market 0 0.00 -$ -$3 BR - Market 0 0.00 -$ -$3 BR - Market 0 0.00 -$ -$3 BR - Market 0 0.00 -$ -$

Total 3-BR



Total 3-BR Units: 0 Total 3-BR Rent -$



4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$

4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$4 BR - 40% 0 0.00 -$ -$

4 BR - 50% 0 0.00 -$ -$4 BR - 50% 0 0.00 -$ -$4 BR - 50% 0 0.00 -$ -$4 BR - 50% 0 0.00 -$ -$


4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$

4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$4 BR - 60% 0 0.00 -$ -$Total 4-BR Total Monthly 4-BR


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4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$

4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$4 BR - Market 0 0.00 -$ -$

Total 4-BR



Total 4-BR Units: 0 Total 4-BR Rent -$

Total Units 22 Net Rentable SF: TC Units 11,701.14MKT Units 0.00

Total NR SF: 11,701.14

100.0000%Floor Space Fraction

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D. Operating ExpensesAdministrative:

1. Advertising/Marketing $6002. Office Salaries $03. Office Supplies $1,5004. Office/Model Apartment (type______) $05. Management Fee $8,500

5.28% of EGI 386.3636364 Per Unit6. Manager Salaries $12,000

7. Staff Unit (s) (type______) $08. Legal $1009. Auditing $4,500

10. Bookkeeping/Accounting Fees $011. Telephone & Answering Service $2,90012. Tax Credit Monitoring Fee $33013. Miscellaneous Administrative $745

Total Administrative $31,175Utilities

14. Fuel Oil $015. Electricit y $4,00016. Water $5,70017. Gas $75018. Sewe r $8,500

Total Utility $18,950Operating:

19. Janitor/Cleaning Payroll $020. Janitor/Cleaning Supplies $021. Janitor/Cleaning Contract $022. Exterminating $1,00023. Trash Removal $4,60024. Security Payroll/Contract $025. Grounds Payroll $026. Grounds Supplies $027. Grounds Contract $75028. Maintenance/Repairs Payroll $17,00029. Repairs/Material $3,50030. Repairs Contract $2,00031. Elevator Maintenance/Contract $032. Heating/Cooling Repairs & Maintenance $033. Pool Maintenance/Contract/Staff $034. Snow Removal $20035. Decorating/Payroll/Contract $1,50036. Decorating Supplie $037. Miscellaneous $0

Operating & Maintenance Totals $30,550Taxes & Insurance

38. Real Estate Taxes $4,76139. Payroll Taxes $2,91340. Miscellaneous Taxes/Licenses/Permit $11041. Property & Liability Insuranc $4,95042. Fidelity Bond $6343. Workman's Compensation $28844. Health Insurance & Employee Benefit $5,49445. Other Insurance $0

Total Taxes & Insurance $18,5796544

Total Operating Expense $99,254

D1. Total Oper. Ex. Per Unit $4,512 D2. Total Oper. Ex. As % EGI (from E3) 61.69%

Replacement Reserves (Total # Units X $300 or $250 New Const. Elderly Minimum) $6,600

Total Expenses $105,854

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E. Cash Flow (First Year)1. Annual EGI Low-Income Units from (C1) $160,8882. Annual EGI Market Units (from C2) + $03. Total Effective Gross Income = $160,8884. Total Expenses (from D) $105,854

5. Net Operating Income = $55,0346. Total Annual Debt Service (from Page 21 B2) - $45,2307. Cash Flow Available for Distribution = $9,804

F. Projections for Financial Feasibility - 15 Year Projections of Cash Flow

StabilizedYear 1 Year 2 Year 3 Year 4 Year 5

Eff. Gross Income 160,888 164,106 167,388 170,736 174,150Less Oper. Expenses 105,854 109,030 112,301 115,670 119,140Net Income 55,034 55,076 55,087 55,066 55,011Less Debt Service 45,230 45,230 45,230 45,230 45,230Cash Flow 9,804 9,846 9,857 9,836 9,781Debt Coverage Ratio 1.22 1.22 1.22 1.22 1.22

Year 6 Year 7 Year 8 Year 9 Year 10Eff. Gross Income 177,633 181,186 184,810 188,506 192,276Less Oper. Expenses 122,714 126,395 130,187 134,093 138,115

Net Income 54,920 54,791 54,623 54,413 54,161Less Debt Service 45,230 45,230 45,230 45,230 45,230Cash Flow 9,690 9,561 9,393 9,183 8,931Debt Coverage Ratio 1.21 1.21 1.21 1.20 1.20

Year 11 Year 12 Year 13 Year 14 Year 15Eff. Gross Income 196,122 200,044 204,045 208,126 212,288Less Oper. Expenses 142,259 146,527 150,922 155,450 160,114Net Income 53,863 53,517 53,122 52,676 52,175Less Debt Service 45,230 45,230 45,230 45,230 45,230Cash Flow 8,633 8,287 7,893 7,446 6,945Debt Coverage Ratio 1.19 1.18 1.17 1.16 1.15Estimated Annual Percentage Increase in Revenue 2.00% (Must be < 2%)Estimated Annual Percentage Increase in Expenses 3.00% (Must be > 3%)

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VIII. PROJECT BUDGET

A. Cost/Basis/Maximum Allowable Credit

Complete cost column and basis column(s) as appropriate through A12. Check if the followingdocumentation is attached at TAB S :

Executed Construction ContractExecuted Trade Payment Breakdown

AppraisalOther Cost DocumentationEnvironmental Studies

Amount of Cost up to 100% Includable inEligible Basis--Use Applicable Column(s):

"30% Present Value Credit" (D)Item (A) Cost (B) Acquisit ion (C) Rehab/ "70 % Present

New Construction Value Credit"

1. Contractor Cost

A. Off-Site Improvements 0 0 0 0B. Site Work 80,370 0 0 80,370C. Geothermal System 0 0 0 0D. Unit Structures (New) 0 0 0 0E. Unit Structures (Rehab) 764,747 0 0 764,747F. Solar Electric System 0 0 0 0G. Asbestos Removal 0 0 0 0H. Demolition 0 0 0 0I. Commercial Space Costs 0 0 0 0J. Structured Parking Garage 0 0 0 0K. Subtotal A: (Sum 1A..1J) 845,117 0 0 845,117L. General Requirements 50,707 0 0 50,707M. Builder's Overhead 16,902 0 0 16,902

( 2.0% Contract)N. Builder's Profit 50,707 0 0 50,707

( 6.0% Contract)O. Bonding Fee 8,670 0 0 8,670P. Other 0 0 0 0Q. Contractor Cost

Subtotal (Sum 1K..1P) $972,103 $0 $0 $972,103

2. Owner CostsA. Building Permit 9,634 0 0 9,634B. Arch./Engin. Design Fee 11,000 0 0 11,000

( 500 /Unit)C. Arch. Supervision Fee 7,000 0 0 7,000

( 318 /Unit)D. Tap Fees 0 0 0 0E. Soil Borings 0 0 0 0

NOTE: Attorney must opine, among other things, as to correctness of the inclusion of each cost item in eligible basis, typeof credit and numerical calculations of this Part VIII.

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"30% Present Value Credit" (D)Item (A) Cost (B) Acquisition (C) Rehab/ "70 % Present

New Construction Value Credit"2. Owner Costs Continued

F. Construction Loan 15,879 0 0 15,879Origination Fee

G. Construction Interest 40,000 0 0 0( 6.4% for 9 months)

H. Taxes During Construction 0 0 0 0I. Insurance During Construction 0 0 0 0J. Cost Certification Fee 6,500 1,500 0 5,000K. Title and Recording 20,000 9,000 0 11,000L. Legal Fees for Closing 23,000 8,500 0 14,500M. Permanent Loan Fee 1,875 0 0 0

( 0.5% )N. Other Permanent Loan Fees 0 0 0 0O. Credit Enhancement 0 0 0 0P. Mortgage Banker 0 0 0 0Q. Environmental Study 2,600 2,600 0 0R. Structural/Mechanical Study 2,600 0 0 2,600S. Appraisal Fee 4,000 2,000 0 2,000T. Market Study 3,000 3,000 0 0U. Operating Reserve 78,309 0 0 0V. Tax Credit Fee 11,097 0 0 0W. OTHER $156,320 $10,000 $0 $50,172

(SEE PAGE 19A)X. Owner Cost

Subtotal (Sum 2A..2W) $392,814 $36,600 $0 $128,785

Subtotal 1 + 2 $1,364,917 $36,600 $0 $1,100,888(Owner + Contractor Costs)

3. Developer's Fees 273,032 0 0 273,032

4. Owner's Acquisition CostsLand 150,000Existing Improvements 511,570 511,570Subtotal 4: $661,570 $511,570

5. Total Development CostsSubtotal 1+2+3+4: $2,299,519 $548,170 $0 $1,373,920

If this application seeks rehab credits only, in which there is no acquisition and no change in ownership, enter the greater of appraised value or tax assessment value here: $0 Land

(Attach documentation at Tab K ) $0 Building

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"30% Present Value Credit" (D)Item (A) Cost (B) Acquisition (C) Rehab/ "70 % Present

New Construction Value Credit"W. OTHER OWNER COSTS

Contingency Reserve 48,172 0 0 48,172(Rehab or Adaptive Reuse only)LIST ADDITIONAL ITEMSSurvey 12,000 10,000 0 2,000Reserves and Deposits 96,148 0 0 0

0 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 0

Subtotal (Other Owner Costs) $156,320 $10,000 $0 $50,172

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"30 % Present Value Credit"(C) Rehab/ (D)

New "70 % PresentItem (A) Cost (B) Acquisition Construction Value Credit"

5. Total Development CostsSubtotal 1+2+3+4 2,299,519 548,170 0 1,373,920

6. Reductions in Eligible Basis

Subtract the following:A. Amount of federal grant(s) used to finance 0 0 0

qualifying development costs

B. Amount of nonqualified, nonrecourse financing 0 0 0

C. Costs of nonqualifying units of higher quality 0 0 0(or excess portion thereof)

D. Historic Tax Credit (residential portion) 0 0 0

7. Total Eligible Basis (5 minus 6 above) 548,170 0 1,373,920

8. Adjustment(s) to Eligible Basis (For non-acquisition costs in eligible basis)

(i) For Earthcraft or LEED Certification AND 60 Bonus Points ( Eligible For Increase) 0 68,696(ii) For QCT or DDA (Eligible Basis x 30%) 0 0

Total Adjusted Eligible basis 0 1,442,616

9. Applicable Fraction 100.0000% 100.0000% 100.0000%

10. Total Qualified Basis (Same as Part IX-C) 548,170 0 1,442,616(Eligible Basis x Applicable Fraction)

11. Applicable Percentage 3.35% 0.00% 9.00%(For 2010 9% competitive credits, use the March 2010 applicable percentages for acq.)

(For 9% non-competitive & tax exempt bon ds, use the most recently published rates)

12. Maximum Allowable Credit under IRC 42 $18,364 $0 $129,835(Qualified Basis x Applicable Percentage)(Same as Part IX-C and equal to or more than $148,199credit amount requested) Combined 30% & 70% P. V. Credit

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B. Sources of Funds

1. Construction Financing: List individually the sources of construction financing, including any suchloans financed through grant sources:

Date of Date of Amount of

Source of Funds Application Commitment Funds Name of Contact Person

1. Eagle Bank 09/01/10 10/01/10 $1,015,000 Ryan Riel

2. $0

3. $0

Commitments or letter(s) of intent attached (TAB T)

2. Permanent Financing: List individually the sources of all permanent financing in order of lien position:

Interest Amortization TermDate of Date of Amount of Annual Debt Rate of Period of

Source of Funds Application Commitment Funds Service Cost Loan IN YEARS Loan (years)

1. SPARC 09/01/10 10/01/10 $375,000 $26,966 5.25% 25 25

2. USDA-RD 03/01/10 03/04/10 $679,344 $18,264 1.00% 47 47

3. $0 $0 0.00% 1000 0

4. $0 $0 0.00% 1000 0

5. $0 $0 0.00% 1000 0

6. $0 $0 0.00% 1000 0

Totals: $1,054,344 $45,230


3. Grants : List all grants provided for the development:

Date of Date of Amount of

Source of Funds Application Commitment Funds Name of Contact Person

1. $0

2. $0

3. $0

4. $0

5. $0

6. $0

Total Permanent Grants: $0


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4. Portion of Syndication Proceeds Attributable to Historic Tax CreditAmount of Federal historic credits $0 x Equity % $0.00 $0Amount of Virginia historic credits $0 x Equity % $0.00 $0

6. Equity that Sponsor will Fund:Cash Investmen t $0

Contributed Land/Building $0 Assessment Attached (TAB S)Deferred Developer Fee $31,357Other: A/P & Reserves $68,374

Equity Total $99,7317. Total of All Sources (B2 + B3 + B4 + B5 + B6) $1,154,075

(not including syndication proceeds except for historic tax credits)

8. Total Development Cost $2,299,519(From VIII-A5)

9. Less Total Sources of Funds (From B7 above) $1,154,075

10. Equals equity gap to be funded with low-income tax creditproceeds (must equal IX-D3) $1,145,444

C. Syndication Information (If Applicable)

1. Actual or Anticipated Name of Syndicator Boston Capital2. Contact Person Joshua Gould Phone 617-624-88353. Street Address One Boston Place

City Boston State MA Zip 02108

4. a. Total to be paid by anticipated users of credit (e.g., limited partners) $1,145,444b. Equity Dollars Per Credit (e.g., $0.85 per dollar of credit) $0.78c. Percent of ownership entity (e.g., 99% or 99.9%) 99.99%d. Net credit amount anticipated by user of credits $147,799e. Syndication costs not included in VIII-A5 (e.g., advisory fees) $0

5. Net amount which will be used to pay for Total Development Cost (4a-4e)as listed in Part VIII-A5 (same amount as Part IX-D3) $1,145,444

6. Amount of annual credit required for above amounts(same amount as Part IX-D6) $147,814

7. Net Equity Factor [C5 / (C6 X 10)](same amount as Part IX-D4) Must be equal to or greater than 85% 77.49%

8. Syndication: Public or Private

9. Investors: Individual or Corporate

Weighted Average Credit Price CalculationExchange Component 40% $0.85 $0.34Market Component 60% $0.73 $0.44

Weighted Average Credit Price: $0.78

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D. Recap of Federal, State, and Local Funds/Any Credit Enhancements

1. Are any portions of the sources of funds described above for the development financed directly or indirectlywith Federal, State, or Local Government Funds? Yes NoIf yes, then check the type and list the amount of money involved.

Below-Market Loans Market-Rate Loans

Tax Exempt Bonds $0 Taxable Bonds $0RD 515 $679,344 Section 220 $0Section 221(d)(3) $0 Section 221(d)(3) $0Section 312 $0 Section 221(d)(4) $0Section 236 $0 Section 236 $0VHDA SPARC/REACH $375,000 Section 223(f) $0HOME Funds $0 Other: $0Other: $0Other: $0

Grants GrantsCDBG $0 State $0

UDAG $0 Local $0Other: $0

This means grants to the partnership. If you received a loan financed by a locality which received one of thelisted grants, please list it in the appropriate loan column as "other" and describe the applicable grant programwhich funded it.

2. Subsidized Funding: list all sources of funding for points. Documentation Attached (TAB T)

Source of Funds Commitment date Funds1. $0

2. $03. $04. $0

5. $0 3. Does any of your financing have any credit enhancement? Yes No

If yes, list which financing and describe the credit enhancement:

4. Other Subsidies Documentation Attached (TAB Q)Section 8 Rent Supplement or Rental Assistance Payment

Tax AbatementOther USDA-Rural Development

5. Is HUD approval for transfer of physical asset required?

Yes No

E. For Transactions Using Tax-Exempt Bonds Seeking 4% Credits:For purposes of the 50% Test, and based only on the data entered to thisapplication, the portion of the aggregate basis of buildings and land financed withtax-exempt funds is: N/A

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IX. ADDITIONAL INFORMATION

A. Extended Use Restriction

This development will be subject to the standard extended use agreement which permits earlytermination (after the mandatory 15-year compliance period) of the extended use period. This development will be subject to an extended use agreement in which the owner's right to anyearly termination of the extended use provision is waived for 25 additional years after the 15-year compliance period for a total of 40 years. Do not select if IX.B is checked below.

This development will be subject to an extended use agreement in which the owner's right to anyearly termination of the extended use provision is waived for 35 additional years after the 15-year compliance period for a total of 50 years. Do not select if IX.B is checked below.

B. Nonprofit/Local Housing Authority Purchase Option/Right of First Refusal

1. After the mandatory 15-year compliance period, a qualified nonprofit as identified in theattached nonprofit questionnaire, or local housing authority will have the option to purchaseor the right of first refusal to acquire the development for a price not to exceed the outstandingdebt and exit taxes. Such debt must be limited to the original mortgage(s) unless any refinancingis approved by the nonprofit. Do not select if extended compliance is selected in IX.A above.

Option or Right of First Refusal in Recordable Form Attached (TAB V)Enter name of qualified nonprofit: Telamon Corporation

2. A qualified nonprofit or local housing authority submits a homeownership plan committing tosell the units in the development after the mandatory 15-year compliance period to tenants whoseincomes shall not exceed the applicable income limit at the time of their initial occupancy.Do not select if extended compliance is selected in IX.A above.

Homeownership Plan Attached (TAB J)

NOTE: Each recipient of an allocation of credits will be required to record an extended use agreement as required bythe IRC governing the use of the development for low-income housing for at least 30 years. However, the IRC provides

that, in certain circumstances, such extended use period may be terminated early.

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C. Building-by-Building Information Must CompleteQualified basis must be determined on a building-by building basis. Complete the section below. Building street addresses are required by the IRS (must have themallocation request).

30% Present Value 30% Present ValueCredit for Acquisition Credit for Construction

TAX MARKET

CREDIT RATE Actual or Actual or UNITS UNITS Estimate Anticipated Estimate Anticipated

Build Street Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit Quing # Address Basis Date Percentage Amount Basis Date Percentage Amount

1. 4 0 3318 Toano Dr $99,667 11/01/10 3.35% 3,339 $0 0.00% 0

2. 4 0 3320 Toano Dr $99,667 11/01/10 3.35% 3,339 $0 0.00% 0

3. 4 0 3322 Toano Dr $99,667 11/01/10 3.35% 3,339 $0 0.00% 0

4. 4 0 3324 Toano Dr $99,667 11/01/10 3.35% 3,339 $0 0.00% 0

5. 2 0 3326 Toano Dr $49,834 11/01/10 3.35% 1,669 $0 0.00% 0

6. 4 0 3328 Toano Dr $99,667 11/01/10 3.35% 3,339 $0 0.00% 0

7. $0 0.00% 0 $0 0.00% 0

8. $0 0.00% 0 $0 0.00% 0

9. $0 0.00% 0 $0 0.00% 0

10. $0 0.00% 0 $0 0.00% 0

11. $0 0.00% 0 $0 0.00% 0

12. $0 0.00% 0 $0 0.00% 0

13. $0 0.00% 0 $0 0.00% 0

14. $0 0.00% 0 $0 0.00% 0

15. $0 0.00% 0 $0 0.00% 0

16. $0 0.00% 0 $0 0.00% 0

$548,170 $0

$18,364 $0 Qualified Basis Totals (must agree with VIII-A10)

Credit Amount Totals (must agree with VIII-A-12)

NUMBEROF

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TAX MARKET



17. $0 0.00% 0 $0 0.00% 0

18. $0 0.00% 0 $0 0.00% 0

19. $0 0.00% 0 $0 0.00% 0

20. $0 0.00% 0 $0 0.00% 0

21. $0 0.00% 0 $0 0.00% 0

22. $0 0.00% 0 $0 0.00% 0

23. $0 0.00% 0 $0 0.00% 0

24. $0 0.00% 0 $0 0.00% 0

25. $0 0.00% 0 $0 0.00% 0

26. $0 0.00% 0 $0 0.00% 0

27. $0 0.00% 0 $0 0.00% 0

28. $0 0.00% 0 $0 0.00% 0

29. $0 0.00% 0 $0 0.00% 0

30. $0 0.00% 0 $0 0.00% 0

31. $0 0.00% 0 $0 0.00% 0

32. $0 0.00% 0 $0 0.00% 0 $0 $0

$0 $0Qualified Basis Totals (must agree with VIII-A10)


NUMBEROF

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TAX MARKET



33. $0 0.00% 0 $0 0.00% 0

34. $0 0.00% 0 $0 0.00% 0

35. $0 0.00% 0 $0 0.00% 0

36. $0 0.00% 0 $0 0.00% 0

37. $0 0.00% 0 $0 0.00% 0

38. $0 0.00% 0 $0 0.00% 0

39. $0 0.00% 0 $0 0.00% 0

40. $0 0.00% 0 $0 0.00% 0

41. $0 0.00% 0 $0 0.00% 0

42. $0 0.00% 0 $0 0.00% 0

43. $0 0.00% 0 $0 0.00% 0

44. $0 0.00% 0 $0 0.00% 0

45. $0 0.00% 0 $0 0.00% 0

46. $0 0.00% 0 $0 0.00% 0

47. $0 0.00% 0 $0 0.00% 0

48. $0 0.00% 0 $0 0.00% 0 $0 $0



NUMBEROF

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TAX MARKET



49. $0 0.00% 0 $0 0.00% 0

50. $0 0.00% 0 $0 0.00% 0

51. $0 0.00% 0 $0 0.00% 0

52. $0 0.00% 0 $0 0.00% 0

53. $0 0.00% 0 $0 0.00% 0

54. $0 0.00% 0 $0 0.00% 0

55. $0 0.00% 0 $0 0.00% 0

56. $0 0.00% 0 $0 0.00% 0

57. $0 0.00% 0 $0 0.00% 0

58. $0 0.00% 0 $0 0.00% 0

59. $0 0.00% 0 $0 0.00% 0

60. $0 0.00% 0 $0 0.00% 0

61. $0 0.00% 0 $0 0.00% 0

62. $0 0.00% 0 $0 0.00% 0

63. $0 0.00% 0 $0 0.00% 0

64. $0 0.00% 0 $0 0.00% 0 $0 $0



NUMBEROF

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TAX MARKET



65. $0 0.00% 0 $0 0.00% 0

66. $0 0.00% 0 $0 0.00% 0

67. $0 0.00% 0 $0 0.00% 0

68. $0 0.00% 0 $0 0.00% 0

69. $0 0.00% 0 $0 0.00% 0

70. $0 0.00% 0 $0 0.00% 0

71. $0 0.00% 0 $0 0.00% 0

72. $0 0.00% 0 $0 0.00% 0

73. $0 0.00% 0 $0 0.00% 0

74. $0 0.00% 0 $0 0.00% 0

75. $0 0.00% 0 $0 0.00% 0

76. $0 0.00% 0 $0 0.00% 0

77. $0 0.00% 0 $0 0.00% 0

78. $0 0.00% 0 $0 0.00% 0

79. $0 0.00% 0 $0 0.00% 0

80. $0 0.00% 0 $0 0.00% 0 $0 $0



NUMBEROF

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TAX MARKET



81. $0 0.00% 0 $0 0.00% 0

82. $0 0.00% 0 $0 0.00% 0

83. $0 0.00% 0 $0 0.00% 0

84. $0 0.00% 0 $0 0.00% 0

85. $0 0.00% 0 $0 0.00% 0

86. $0 0.00% 0 $0 0.00% 0

87. $0 0.00% 0 $0 0.00% 0

88. $0 0.00% 0 $0 0.00% 0

89. $0 0.00% 0 $0 0.00% 0

90. $0 0.00% 0 $0 0.00% 0

91. $0 0.00% 0 $0 0.00% 0

92. $0 0.00% 0 $0 0.00% 0

93. $0 0.00% 0 $0 0.00% 0

94. $0 0.00% 0 $0 0.00% 0

95. $0 0.00% 0 $0 0.00% 0

96. $0 0.00% 0 $0 0.00% 0 $0 $0



NUMBEROF

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D. Determination of Reservation Amount Needed

1. Total Development Costs (from VIII-A5, Column A page 20) $2,299,519

2. Less Total Sources of Funds (from VIII-B7 page 22) $1,154,075

3. Equals Equity Gap $1,145,444

4. Divided by Net Equity Factor (VIII-C7 page 22) 77.49%(Percent of 10-year credit expected to be raised as equity investment)

5. Equals Ten-Year Credit Amount Needed to Fund Gap $1,478,140

Divided by ten years 10

6. Equals Annual Tax Credit Required to Fund the Equity Gap $147,814

7. The Maximum Allowable Credit Amount $148,199(from VIII-A12-combined figure)

(This amount must be equal to or more than 6 above)

8. Reservation Amount (Lesser of 6 or 7 above)

Credit per Unit 6,719 Combined 30% & 70% PV CreditCredit per Bedroom 6,719 $147,814

Comprised of

$17,980 and $129,83430% PV Credit 70% PV Credit

(Based on same relative percentages as VIII-A12)

E. Attorneys OpinionAttached in Mandatory TAB W )

The following calculation of the amount of credits needed is substantially the same as the calculation which will be made by VHDA todetermine, as required by the IRC, the amount of credits which may be allocated for the development. However, VHDA at all times retains theright to substitute such information and assumptions as are determined by VHDA to be reasonable for the information and assumptionsprovided herein as to costs (including development fees, profits, etc.), sources for funding, expected equity, etc. Accordingly, if thedevelopment is selected by VHDA for a reservation of credits, the amount of such reservation may differ significantly from the amount youcompute below.

Goal Seek FunctionIf you incur the error message that your reservation amount is not equal

to the equity gap amount you may use the goal seek function within the Excelspreadsheet to eliminate the error message. To use the Goal Seek function firstplace the curser box on cell V28. Using the mouse arrow, point and click onTools on the top line and then click on the Goal Seek option. A box willappear with the V28 cell shown in the top space, place the cursor in the middlebox and type in the new amount that you want the equity gap to be which shouldbe the reservation amount below, then place the cursor in the bottom space and atthe bottom of the page click on page 22. Then place the cursor on cell N15(Deferred Developer Fee) and click on OK. A message should then appear that

a solution has been found and if the amount is correct click OK. If the amountsare now equal the error message will disappear.

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F. Statement of Owner

The undersigned hereby acknowledges the following:

1. that, to the best of its knowledge and belief, all factual information provided herein or in connectionherewith is true and correct, and all estimates are reasonable.

2. that it will at all times indemnify and hold harmless VHDA and its assigns against all losses, costs,damages, VHDA's expenses, and liabilities of any nature directly or indirectly resulting from, arising out of,or relating to VHDA's acceptance, consideration, approval, or disapproval of this reservation request andthe issuance or nonissuance of an allocation of credits, grants and/or loan funds in connection herewith.

3. that points will be assigned only for representations made herein for which satisfactory documentation issubmitted herewith and that no revised representations may be made in connection with this applicationonce the deadline for applications has passed.

4. that this application form, provided by VHDA to applicants for tax credits, including all sections hereinrelative to basis, credit calculations, and determination of the amount of the credit necessary to make the

development financially feasible, is provided only for the convenience of VHDA in reviewing reservationrequests; that completion hereof in no way guarantees eligibility for the credits or ensures that the amountof credits applied for has been computed in accordance with IRC requirements; and that any notationsherein describing IRC requirements are offered only as general guides and not as legal authority.

5. that the undersigned is responsible for ensuring that the proposed development will be comprised of qualified low-income buildings and that it will in all respects satisfy all applicable requirements of federaltax law and any other requirements imposed upon it by VHDA prior to allocation, should one be issued.

6. that, for the purposes of reviewing this application, VHDA is entitled to rely upon representations of theundersigned as to the inclusion of costs in eligible basis and as to all of the figures and calculations relativeto the determination of qualified basis for the development as a whole and/or each building therein

individually as well as the amounts and types of credit applicable thereof, but that the issuance of areservation based on such representation in no way warrants their correctness or compliance with IRCrequirements.

7. that VHDA may request or require changes in the information submitted herewith, may substitute its ownfigures which it deems reasonable for any or all figures provided herein by the undersigned and may reservecredits, if any, in an amount significantly different from the amount requested.

8. that reservations of credits are not transferable without prior written approval by VHDA at its solediscretion.

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MANDATORY ITEMS: Scorea. Signed, completed application Y Y or N 0b. Duplicate copy of application Y Y or N 0c. Partnership agreement Y Y or N 0d. SCC Certification Y Y or N 0e. Previous participation form Y Y or N 0f. Site control document Y Y or N 0g. Architect's Certification Y Y or N 0h. Attorney's opinion Y Y or N 0i. Nonprofit questionnaire (if NP) Y Y, N, N/A 0

0.001. READINESS:

a. Plan of development N 0 or 40 0.00b. Zoning approval Y 0 or 40 40.00

Total: 40.00

2. HOUSING NEEDS CHARACTERISTICS:a. VHDA notification letter to CEO Y 0 or -50 0.00b. Local CEO letter (Y,NC,N) Y 0 or 25 or 50 50.00c. Location in a revitalization area Y 0 or 30 30.00d. Location in a Qualified Census Tract N 0 or 5 0.00e. Sec 8 or PHA waiting list preference Y 0 or 10 10.00f. Subsidized funding commitments 0.00% Up to 40 0.00g. Existing RD, HUD Section 8 or 236 program Y 0 or 20 20.00h. Tax abatement or new project based rental subsidy (HUD or RD) N 0 or 10 0.00i. Census tract with


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b. Cost per unit categories check spelling of Clerk's Office on pg 1. It must match Up to 75 32.47Total exactly with the Jurisdiction names listed in the Application Manual. 108.68

7. BONUS POINTS: Locality AMI State AMIa. Units with rents at or below 40% of AMI $67,900 $53,100 14% Up to 10 10.00b. Units with rent and income at or below 50% of AMI 100% Up to 50 50.00

or c. Units with rents at or below 50% rented to tenants at or below 60% of AMI 100% Up to 25 0.00or d. Units in Low Income Jurisdictions with rents


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$/SF = $154.94 Credits/SF = $11.06 Const $/unit = $44,187

TYPE OF PROJECT FAMILY = 11000; ELDERLY = 12000 12000 If an ERROR message appears here checkLOCATION BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR=600 400 spelling of Clerk's Office on pg 1. It mustTYPE OF CONSTRUCTION N C=1; ADPT=2;REHAB(35,000+)=3; REHAB(15,000-35,000)= 3 match exactly with the Jurisdiction names

listed in the Application Manual.ELDERLY

AS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 STAVG UNIT SIZE 0 0 0 0 0 608 0NUMBER OF UNITS 0 0 0 0 0 22 0

PARAMETER-(COSTS=>35,000) 0 0 0 0 0 166,031 0PARAMETER-(COSTS35,000) 0 0 0 0 0 11,652 0PARAMETER-(CREDITS35,000) 0 0 0 0 0 0 0 0PARAMETER-(COSTS35,000) 0 0 0 0 0 0 0 0PARAMETER-(CREDITS


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$/SF = $154.94 Credits/SF = $11.06 Const $/unit = $44,187

TYPE OF PROJECT FAMILY = 11000; ELDERLY = 12000 12000 If an ERROR message appears here checkLOCATION BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR=600 400 spelling of Clerk's Office on pg 1. It mustTYPE OF CONSTRUCTION N C=1; ADPT=2;REHAB(35,000+)=3; REHAB(10,000-35,000)= 3 match exactly with the Jurisdiction names

listed in the Application Manual.ELDERLY

AS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 STAVG UNIT SIZE 0 0 0 0 0 608 0NUMBER OF UNITS 0 0 0 0 0 22 0

PARAMETER-(COSTS=>35,000) 0 0 0 0 0 152,145 0PARAMETER-(COSTS35,000) 0 0 0 0 0 13,041 0PARAMETER-(CREDITS35,000) 0 0 0 0 0 0 0 0PARAMETER-(COSTS35,000) 0 0 0 0 0 0 0 0PARAMETER-(CREDITS


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8/7/2019 Burnt Ordin

Burnt Ordinary Village

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