Southview Green

8/6/2019 Southview Green

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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: Multi-Family Production

Print Preview - Final Application

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

Resources Requested

232,000

Page 1 of 35Print - APP03-0013

1/14/2005https://www.nchfa.org/Rental/RTCApp/(kyf1burojjra5inkzvecxmzp)/site/PrintApp.aspx?II...


2/35

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

Project Name and Location

Project Name: Southview Green Apartments

Address: Elk Road

City: Hope Mills County: CUMBERLAND Zip: 28348

Census Tract: 16.2 Block Group: 4

No

Political Jurisdiction: Cumberland County

Jurisdiction CEO Name: First: Last:James Martin Title: County Manager

Jurisdiction Address: P.O. Box 1829

Jurisdiction City: Fayetteville Zip: 28302

Jurisdiction Phone: (910)678-7723

Site Latitude: 34.9536

Site Longitude: -78.9353




3/35

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: Family

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: 25% or 18 of the units will be handicapped accessible. 8 of the units will target disabled/homelesspopulations. Rents on those 8 units will range from $140 to $155 per month.

Proposed number of residential buildings: 9 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): 1,2031,203

Community space within residential bulding(s) -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area):

Elevators -- Number of Elevators:Number of Elevators:

Gross Floor Square Footage: 78,921

Total Net Sq. Ft. (All Heated Areas): 71,055




4/35

Applicant Information

Applicant Name: Southview Green Associates Limited Partnership

Address: P.O. Drawer 42208

City: State: NC Zip:Fayetteville 28309

Contact: First: Last: Title:Murray Duggins Gen. Partner

Telephone: (910)485-6600

Alt Phone: (910)485-6600

Fax: (910)483-4274

Email Address: [email protected]




5/35

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

7.37 7.37

No

No

No

Yes

No




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




7/35

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

If yes provide:

Purchase Date: Purchase Price:

If no:

Site Control

Yes

02/28/2003 350,000

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

(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:

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

(D) Enter Purchase Price:




8/35

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

R6A

Yes

No

No

No

No




9/35

Ownership Entity

Owner Name: Southview Green Associates Limited Partnership


City: State: NC Zip:Fayetteville 28309

Federal Tax ID Number of Ownership Entity: (If assigned)

Federal Tax ID Number of Managing GP or Member: (If Not Assigned)56-2053411

Entity Type: Limited Partnership

Entity Status: To Be Formed

Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? No

Is the applicant requesting that the Agency treat the application as CHDO sponsored? No

List all general partners, members,and principals. Specify nonprofit corporate general partners ormembers. Click [Add] to add additional partners, members, and principals.

Org: Southview Green/Duggins LLC

First Name: N/A Last Name: N/A Function: Managing General Partner


City: Fayetteville State: NC Zip: 28309

Phone: (910)485-6600 Fax: (910)483-4274

EMail: [email protected] Nonprofit: No TaxID 56-2053411

Org: Duggins Family Limited Partnership

First Name: Murray Last Name: Duggins Function: Member

Address: P.O. Box 42208

City: Fayetteville State: NC Zip: 28309

Phone: (910)485-6600 Fax: (910)483-4274

EMail: [email protected] Nonprofit: No TaxID 56-2053411




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11/35

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 %

2 16 targeted at 40 percent of median income.






72




12/35

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 800,000 7.25 20 30 65,488

RPP Loan 232,000 2.00 20 20Local Gov. Loan - Specify:Cumberland County

360,000 2.00 20 20

RD Loan

AHP Loan

Other Loan 1 - Specify:



Tax Exempt Bonds

State Tax Credit(Loan) 936,049 0 30 30 0

State Tax Credit(Direct Refund)

Equity: Federal LIHTC 2,913,288

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees

Owner Investment

Other - Specify:

Total Sources** 5,241,337

* "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.

79

RPP and county repayments below reflect the correct Annual DS. sk

RPP Loan




13/35


14/35

Development Costs

Item Cost Element TOTAL COSTEligible Basis

30% PV 70% PV

1 Purchase of Buildings (Rehab) 0 0

2 Demolition 0 0 0

3 On-site Improvements 435,000 0 435,000

4 Rehabilitation 0 0 0

5 Construction of New Building(s) 2,892,000 0 2,892,000

6 Accessory Building(s) 0 0 0

7 General Requirements 171,900 0 171,900

8 Contractor Overhead 67,000 0 67,000

9 Contractor Profit 202,536 0 202,536

10 Construction Contingency 113,000 0 113,000

11 Architect's Fee - Design 124,000 0 124,000

12 Architect's Fee - Inspection 0 0

SUBTOTAL (lines 1 through 12) 4,005,436

13 Construction Insurance (prorate) 5,000 0 5,000

14 Construction Loan Orig. Fee (prorate) 0 0

15 Construction Loan Interest (prorate) 120,000 0 120,000

16 Construction Loan Credit Enhancement (prorate) 0 0 0

17 Construction Period Taxes (prorate) 8,000 0 8,000

18 Water, Sewer and Impact Fees 18,100 0 18,100

19 Survey 5,000 0 5,000

20 Property Appraisal 5,500 0 5,500

21 Environmental Report 4,000 0 3,500

22 Market Study 4,000 0 4,500

23 Bond Costs (specify) 0

24 Cost of Issuance 0

25 Placement Fee 0

26 Permanent Loan Origination Fee 0

27 Permanent Loan Credit Enhancement 0

28 Title and Recording 0

SUBTOTAL (lines 13 through 28) 169,600

29 Real Estate Attorney 43,000 0 43,000

30 Other Attorney's Fees 0 0

31 Tax Credit App Fees 25,207 0 25,207

32 Accounting Fees 7,500 0 7,500

33 Tax Opinion 0

34 Organizational (Partnership) 0

35 Tax Credit Monitoring Fee 43,200


36 Furnishings and Equipment 5,000 0 5,000

37 Relocation Expenses 0 0

38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 425,000 0 425,000

39 Other Basis Expense (specify) 0 0 0

40 Other Basis Expense (specify) 0 0 0

41 Rent-up Expenses 0

42 Other Non-basis Expense (specify) 0

43 Other Non-basis Expense (specify) 0


44 Rent up Reserve 22,000




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Comments:

45 Operating Reserve 145,394

46 Other Reserve (specify) 0

47 Other Reserve (specify) 0

48 DEVELOPMENT COST (lines 1-47) 4,891,337 0 4,680,743

49 Less Federal Financing 0 0

50 Less Disproportionate Standard 0 0

51 Less Nonqualified Nonrecourse Financing 0 0

52 Less Historic Tax Credit (residential) 0 0

53 TOTAL ELIGIBLE BASIS 4,680,743 0 4,680,743

54 Times Applicable Fraction 100.00% 100% 100%

55 TOTAL QUALIFIED BASIS 4,680,743 0 4,680,743

56 Tax Credit Rate 8.50% 7.87%

57 FEDERAL TAX CREDITS at Estimated Rate 368,374 0 368,374

57a FEDERAL TAX CREDITS at 8.5% or 3.75% 397,863 0 397,863

58 FEDERAL TAX CREDITS REQUESTED 397,743 397,743

59 STATE TAX CREDITS 935,867

60 Land Cost 350,000

61 TOTAL REPLACEMENT COST 5,241,337

units split to HOME rents. application submitted at 8.5%




16/35

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):

Market Study Information

Southview Green Apartments will be located on 7.37 acres in southern Cumberland County and willbe a 72 unit family project located in 9 buildings with a separate office building.

The rent structure has been made very affordable. While the application targets those at both 50%and 60% of the median income, 10 of the units will target those at 40% or below the median income

and another 8 units will target disabled/homeless populations and have a very low rent of $140 to$150 per month. Eighteen of the units will be handicapped accessible.

Two tax credit apartment complexes (Crosswinds I and II) are located approximately 1.5 miles fromthe site. Both of these complexes are at 100% occupancy with a waiting list of 52.

The surrounding neighborhood is a mix of well-maintained homes, apartments, schools, a nursingfacility and church. Shopping, recreational facilities and medical offices are very convenient to thesite.

A Support Services Coordinator will be on staff to assist the tenants.

Yes

Golfview Apartments4131 Fescue CourtHope Mills, NC

Crosswinds Green I & II3415 Town StreetHope Mills, NC

Longview Apartments117 Longview DriveFayetteville, NC

Blanton Green I & II (under construction)1024 Lauren McNeill LoopFayetteville, NC

Rosehill West Apartments1945 James Hamner WayFayetteville, NC

Raeford Green Apartments300 Sourthern AvenueRaeford, NC

Woodgreen Apartments (under construction)Pecan Grove DriveAberdeen, NC

Community Bldg - Sq Ft: 1,203 Community Room - Sq Ft: Garages - Number:

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




17/35

Onsite Activities:

Landscaping Plans:

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.

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

Support Services Coordinator on staff.

Above average landscaping with sprinkler system.

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

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

VCT

No




18/35

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 neighborhood is well kept with a mix of residential, schools, and churches. This portion of thecounty is growing as seen by the new construction in the area. According to a March 2002 marketstudy of the area, Hope Mills was among the fastest growing areas in Cumberland County.2000census data reported a population increase of 37% for the Hope Mills area in the 1990's withadditional solid gains expected through 2007.

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.The area surrounding the site is a mix of single family homes and apartments. A nursing facilty islocated beside the site. A middle school and high school are located in front of the site. Shopping,banking, medical and recreational services are located within a few minutes drive.

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).Elk Road is very adequate to serve the project. Access to I95 is located approximatley two milesfrom the site. Public transportation serves Hope Mills and the closest stop is approximately one milefrom the site

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).The remaining undeveloped land is wooded. There are no environmental concerns at this site.

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.The site slopes towards the rear of the property. No environmental problems exists. The site is notlocated in a flood zone.

Similarity of scale and aesthetics/architecture between project and surroundings.The two story buildings will have brick veneer and hardiplank siding.The design will be consistent




19/35

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

Other facilities or services:

with other architecture in the neighborhood and will be complimentary to the other structues.

Concentration of affordable housing (housing credit, project-based rental assistance, public housing).There is no public housing in this portion of the county. Crosswinds Green Apartments (tax credit) is

located approximately 1.5 miles from the site.

Availability of Supportive Services (if applicable):A Support Services Coordinator will be on staff.

Grocery Store1.5 Community/Senior Center1.8

Mall/Strip Center1.5 Hospital4.5

Outdoor Athletic Fields.1 Pharmacy1.5

Day Care/After School.25 Basic Health Care1.7

Schools.1 Medical Offices1.7

Public Transportation Stop1 Bank/Credit Union1.7

Convenience Store.9 Restaurants.5

Basketball/Tennis Courts.1 Professional Services1.7

Public Parks1.5 Movie Theater5

Gas Station.9 Video Rental1.5

Library1.7 Public Safety (Fire/Police)3

Fitness/Nature Trails.1 Post Office3

Public Swimming Pools

Hope Mills YMCA is located 2 miles from the site. Schools are located directly across the street fromthe site.




20/35


21/35

DevelopmentList 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:

ManagementList 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: 13 2

Units: 576 56

North Carolina Other States

Projects: 20 5

Units: 760 128

No

No

No

No

Yes




22/35

Financing Commitments

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

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:




23/35

Project Operations (Year One)

Projected Operating Costs

Administrative Expenses

Advertising 3,100

Other Administrative Expense (specify):5,600

Office Salaries 2,800Office Supplies 4,500

Office or Model Apartment Rent

Management Fee 32,000

Manager or Superintendent Salaries 4,500

Manager or Superintendent Rent Free Unit

Legal Expenses (Project) 2,500

Auditing Expenses (Project) 4,500

Bookkeeping Fees/Accounting Services

Telephone and Answering Service 4,500

Bad Debts

Other Administrative Expenses (specify):

SUBTOTAL 64,000

Utilities Expense

Fuel Oil

Electricity (Light and Misc. Power) 17,600

Water

Gas

Sewer

SUBTOTAL 17,600

Operating and Maintenance Expenses

Janitor and Cleaning Payroll 5,000

Janitor and Cleaning Supplies

Janitor and Cleaning Contract 5,000

Exterminating Payroll/Contract 3,000

Exterminating Supplies

Garbage and Trash Removal 5,000

Security Payroll/Contract

Grounds Payroll

Grounds Supplies

Grounds Contract 25,000

Repairs Payroll

Repairs Material

Repairs Contract 8,000

Elevator Maintenance/Contract

Heating/Cooling Repairs and Maintenance 6,000

Swimming Pool Maintenance/Contract

Snow Removal

Decorating Payroll/Contract

Decorating Supplies

Other (specify):

Miscellaneous Operating & Maintenance Expenses 13,000

SUBTOTAL 0

Taxes and Insurance

Real Estate Taxes 20,000




24/35

Payroll Taxes (FICA) 6,000

Miscellaneous Taxes, Licenses and Permits

Property and Liability Insurance (Hazard)

Fidelity Bond Insurance 8,000

Workmen's Compensation

Health Insurance and Other Employee Benefits

Other Insurance:

SUBTOTAL 0

Supportive Service Expenses

Service Coordinator 5,000

Service Supplies

Tenant Association Funds

Other Expenses (specify):

SUBTOTAL 0

Reserves

Replacement Reserves 18,000

SUBTOTAL 18,000

TOTAL OPERATING EXPENSES 208,600

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

165,600

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

72

PER UNIT PER YEAR 2,300




25/35


26/35

Design Features

ITEM DESCRIPTION

Foundation/Slab Components 20"X12" Footings w/2 #5 Rebar cont Reg. Brick 4"X8" Block & Header Blocks on 4" Slab

Primary Windows Make: Model:Alenco Windows Series 3852

Type/Construction:

Aluminum, Single Hung, Thermal Break, TiltSash

Exterior Doors Type: Frames:Peachtree Steel Wood

SidingType: Grade/Thickness:

Hardi-Plank & BrickVeneer and/or .044"vinyl siding and trim.

Warranty: 50 Year

Exterior Trim Pro Trim/Hardi Plank and/or vinyl trim

Shingles Type: Weight:Asphalt 240#

Warranty: 30 Year Architectural

Sprinkler System Grinnell Fire Protection System Throughout (Wet System)

Cabinets Tri-Pak Composit Box, 3/4" Shelf, Oak Face

Heat Pump SEER: Make:12 Goodman

Model:

Air Conditioner SEER: Make:12 Goodman

Model: CPK J18

Other Heat Systems SEER: Make:N/A

Model:




27/35

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 23,000 13,400 36,400

Backfill-slab, Crawl 0

Slab-concrete/Rebar/Gravel 71,000 58,100 129,100

Waterproofing 0

Masonry Foundation 10,500 9,000 19,500

Brick Veneer 33,800 51,000 84,800

Steel/Structure/Rails 43,800 51,400 95,200

Framing/Lumber/Nails 170,100 280,800 450,900

Trusses 113,100 113,100

Crane Rental 12,000 12,000

Windows/Grilles/Screen 27,800 27,800Exterior Doors 70,300 70,300

Roofing 19,500 13,500 33,000

Fencing 23,500 7,000 30,500

Vinyl Siding/Trim/Box 74,400 67,100 141,500

Gutters/Shutters 7,500 8,500 16,000

Insulation 25,100 37,700 62,800

Drywall 89,600 59,700 149,300

Interior Doors 42,800 99,800 142,600

Int. & Final/Stair/Trim/Shelves 0

Cabinets & Tops 49,100 73,600 122,700

Painting 63,500 52,000 115,500

Marble - Tub/Shwr/Tops 0

Plumbing 91,300 129,400 220,700

Electrical 61,300 81,300 142,600

Heating/Air Conditioning 64,500 106,100 170,600

Floor Covering and Underlayment 27,000 63,000 90,000

Wall Paper 18,000 18,000 36,000

Mailboxes/Special Features/Signage 500 5,900 6,400

Gypcrete 0

Blinds/Shades/Art Work 6,000 14,000 20,000

Light Fixtures/Fans 0

Sprinkler System 0

Security Alarm 0

Hardwood Floors 0

Elevator 0

Ceramic Tiles 0

Acoustical Ceilings 0




28/35

Remarks:

Mirror/Shower Door/Encls. 0

Hardware/Bath Access. 35,600 35,600

Appliances 106,500 106,500

Playground Equipment 3,800 3,800

Interior Clean 18,300 18,300

Exterior Clean/Dumpster 16,800 16,800

Other 1 (specify in Remarks) 10,800 9,600 20,400

Other 2 (specify in Remarks) 68,000 83,300 151,300

Total Cost 1,129,700 1,762,300 2,892,000

1-Includes Drive/Sidewalk/Porch2-Includes Site Utilities




29/35

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 107,200

Job Site Office/Trailer Rental 7,600

Impact Fees

Office Supplies

Security/Watchman 16,500

Water and Sewer Connection Fees

Project Signage

Tools and Equipment 3,900

Gas, Oil, and Maintenance

Cleanup/Dumpster Rental 3,100

Temporary Water, Electric, and Telephone 6,450Storage/Hauling

Driveway Access Permit 13,100

Porta-John Rental/Dumping 6,450

Builders Risk Insurance 7,600

Re-inspection Fees

Extra Plans and Specifications

Miscellaneous, Casual Labor

Equipment Rental

Other 1 (specify in Remarks)


Total Cost 171,900




30/35

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 106,900

Demolition 16,300

Earthwork/Excavation/Aerating 26,100

Soil Treatment 7,600

Pile Foundations

Caissons

Shoring/Bracing

Site Drainage 33,400

Site Utilities/Site Lighting 8,700

Paving and Surfacing/Curb and Gutter 96,620Walkways

Site Signage 3,260

Parking Lot Painting 1,740

Dumpsite Pads/Fencing 8,480

Fencing/Gates

Landscaping/Topsoil 85,700

Waterproofing/De-Watering

Operation of Construction Equipment/Fuel/Oil

Crane Rental

Rock and Hardpan Excavation

Site Supervision Personnel

Other (specify in Remarks) 40,200

Total Cost 435,000

Hauling trash, Clean up and labor.




31/35

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




32/35

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




33/35

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.




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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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