Curlin Commons App

8/6/2019 Curlin Commons App

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If yes, please describe:

get Population:Elderly (55)

ll the project be receiving project based federal rental assistance? No

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

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

Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal andstate codes.)

Number of Units:

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

Number of Units:

Remarks:

ttps://www.nchfa.org/Rental/RTCApp/(S(1rf3kertcw...28F074583CD&SNID=D0662482E7CF44038230CA104BF5CB47 (2 of 29)9/16/2008 1:48:11 PM

2

4


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pplicant Information

icate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. UnderP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant mustome part of the ownership entity. The applicant will execute the signature page for this application.

pplicant Name: The Affordable Housing Group of North Carolina, Inc.

ddress: 1300 Baxter Street, Suite 215

ty: Charlotte State: NC Zip:ntact: First: Kathy Last:Stilwell Title:Director of Real Estate Development

lephone:

t Phone:

x:

mail Address:

OTE: Email Address above will be used for communication between NCHFA and Applicant.


28204

(704)968-7202

(704)376-8709

[email protected]


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te Description

al Site Acreage: Total Buildable Acreage:

If buildable acreage is less than total acreage, please explain:A total of 18.1 acres are available, with 10.5 +/- acres to be subdivided from the main parcel for CurlinCommons to comply with zoning maximum of 4 units per acre. A dry creekbed with limited wetlanddeliniated and Public Service Gas line will be crossed to access the building site to the rear of the property.

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

Storm Sewer Water Sanitary Sewer Electric

he demolition of any buildings required or planned? No

If yes, please describe:

existing buildings on the site currently occupied? No

If yes:(a) Briefly describe the situation:

(b) Will tenant displacement be temporary?(c) Will tenant displacement be permanent?

he site directly accessed by an existing, paved, publicly maintained road? Yes

If no, please explain:

ny portion of the site located inside the 100 year floodplain? No

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


10.03 9


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(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:



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te Control

es the owner have fee simple ownership of the property (site/buildings)?No

If yes provide:

Purchase Date: Purchase Price:

If no:(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?Yes

(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract forpurchase of the property and the seller of the property?YesIf yes, specify the relationship:The lessor is the Catholic Diocese of Charlotte which is the parent non-profit of the Catholic Diocese ofCharlotte Housing Corporation

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

(D) Enter Purchase Price:


12/31/2008

0


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oning

sent zoning classification of the site:R20A

multifamily use permitted?Yes

variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?No

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:

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

If yes, describe below:

there any existing conditions of environmental significance located on the project site?No

If yes, describe below:



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wnership Entity

wner Name: Curlin Commons LLCdress: 1300 Baxter Street, Suite 215

y: Charlotte State:NC Zip:

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

te: Do not submit social security numbers for individuals.tity Type: Limited Liability Companytity Status: Already Formedhe applicant requesting that the Agency treat the application as Non-Profit sponsored? Yeshe applicant requesting that the Agency treat the application as CHDO sponsored? Not all general partners, members,and principals. Specify nonprofit corporate general partners or members.ck [Add] to add additional partners, members, and principals.

Org: Curlin Commons Housing of Mooresville Inc.

st Name: Kathy Last Name: Stilwell Function: Managing Memberddress: 1300 Baxter Street, Suite 215

ty: Charlotte State: NC Zip: 28204

one: Fax:

Mail: Nonprofit: No

Org: The Affordable Housing Group of North Carolina, Inc.

st Name: Kathy Last Name: Stilwell Function: Member

ddress: 1300 Baxter Street, Suite 215


one: Fax:

Mail: Nonprofit: Yes

Org: Catholic Diocese of Charlotte Housing Corporation

st Name: Jerry Last Name: Widelski Function: Member

ddress: 1123 S. Church Street


one: Fax:

Mail: Nonprofit: Yes


28204

20-8564011

(704)968-7202 (704)376-8709

[email protected]

(704)968-7202 (704)376-8709

[email protected]

(704)370-3248 (704)370-3377

[email protected]


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

Elevators - Number of Elevators:

uare Footage Information

oss Floor Square Footage:

tal Net Sq. Ft. (All Heated Areas):

es

Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low incomeunits are within established thresholds.

ttps://www.nchfa.org/Rental/RTCApp/(S(1rf3kertc...8F074583CD&SNID=D0662482E7CF44038230CA104BF5CB47 (10 of 29)9/16/2008 1:48:11 PM

8,841

1

54,646

52,543
http://www.nchfa.com/lib/html/rental/Median%20Income%20Charts/income_limits.htmhttp://www.nchfa.com/lib/html/rental/Median%20Income%20Charts/income_limits.htm


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rgeting

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

BRs Units %

targeted at percent of median income affordable to/occupied by






al Low Income Units:

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


7 30

10 50

11 60

3 30

4 50

5 60

40


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unding Sources

Source AmountNon-

Amortizing*Rate(%)

Term(Years)

Amort.Period(Years)

AnnualDebt

Service

Bank Loan

RPP Loan

Local Gov. Loan - Specify:

RD 515 Loan

RD 538 Loan - Specify:

AHP Loan

Other Loan 1 - Specify:FHLB - Direct Subsidy

Other Loan 2 - Specify:

Other Loan 3 - Specify:

Tax Exempt Bonds

State Tax Credit(Loan)

State Tax Credit(Direct Refund)

Equity: Federal LIHTC

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees

Owner Investment

Other - Specify:

Total Sources**

"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.

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

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


500,000 2.00 20 20

160,000 2.00 20 30 7,097

500,000 1.00 20 20

542,553 0 30 30 0

3,873,441

57,721

225,000

5,858,715

84


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

nk Loan

ar:mt:

1 2 3 4 5 6 7 8 9 10

ar:mt:

11 12 13 14 15 16 17 18 19 20

her Loan 1 - FHLB - Direct Subsidy

ar:mt:

1 2 3 4 5 6 7 8 9 10

ar:mt:

11 12 13 14 15 16 17 18 19 20


28000 28000 28000 27500 27000 27000 26500 25500 25000 24500

23500 22500 21500 20000 19000 17500 16000 14000 12500 10500

0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0


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60 Tax Credit Rate

61 Federal Tax Credits at Estimated Rate

62 Federal Tax Credits at 9.00% or 3.75% (maximum $1,000,000)

63 Federal Tax Credits Requested

64 Land Cost

65 TOTAL REPLACEMENT COST

FEDERAL TAX CREDITS IF AWARDED

Comments:

Total Replacement Cost per unit: 115,777


3.40 8.50

461,170 0 461,170

488,298 0 488,298

461,144 461,144

0

5,858,715

488,298


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arket Study Information

ase provide a detailed description of the proposed project:rlin Commons is proposed as a single building containing 40 apartments on two floors. There will be anvator and core of amenities at the entry to the building and smaller sitting areas adjacent to laundry

cilities. The building design creates two interior courtyards for resident use - one in a formal design withewalks, benches and gardens - the second is a less formal area with shade trees and lawns. The site is

cated adjacent to an active church and very nice single family homes. The property is located in a quietidential area, but is less than a mile from a variety of shopping, support services, recreation andtaurants in the quickly developing Mooresville community.

nstruction (check all that apply):

Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches

Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding

Other:

ve you built other tax credit developments that use the same building design as this project?No

If yes, please provide name and address:

e Amenities:terior amenities include covered porch, patio, covered entry portico, landscaped courtyard, sidewalks.erior amenities include chapel, manager office, library/computer center, multipurpose area with kitchen,rlor with sitting area and TV, sitting areas adjacent to main entry, two laundry facilities per floor, residentlk storage closets.

site Activities:tholic Social Services will be active and will coordinate a variety of activities. Services shall beablished to meet the identified needs of the residents. Examples of such could include senior excercisesses, health screenings, movie night, covered dish dinners, game night, day trips, etc.

ndscaping Plans:



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operty will include foundation plantings with special detail on interior courtyard spaces with lighting,ewalks/paths, outdoor sitting area. Larger courtyard will include shade trees and lawn areas.

erior Apartment Amenities:partments are spacious with large kitchens with pantry, and bathrooms with linen closets. Each unit entryrecessed to provide privacy and sense of personal space. Bedrooms are large with walk-in closets anduble windows in the master. In addition to linen, pantry and walkin closets, each unit also includes twoditional storage spaces within the unit and bulk item storage in a seperate area on the same floor. Allits will include emergency pull stations in the bathroom and master bedroom and grab bar in the tub area.

you plan to submit additional market data (market study, etc.) that you want considered? No

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



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pplicant's Site Evaluation

efly describe your site in each of the following categories:

EIGHBORHOOD CHARACTERISTICS

end and direction of real estate development and area economic health. Physical condition of buildings andprovements in the immediate vicinity. Concentration of affordable housing.ee original application

URROUNDING LAND USES AND AMENITIES

nd use pattern is residential in character (single and multifamily housing). Extent that the location islated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:stewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distribution

cilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,

urces of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount andaracter of vacant, undeveloped land. The neighborhood surrounding Curlin Commons is a mix of middle toper middle class single family homes, new and existing highway commercial including retail and services,d a limited amount of light industrial. Undeveloped land includes the balance of the Diocese owned sited heavily wooded land to the rear of the proposed development.

TE SUITABILITY

dequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilitiesarticularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project signin relation to traffic corridors. Highway 150 is a main artery into Mooresville, and the entrance to Curlinmmons will be on the less traveled Overhead Bridge Road - both roads are in good condition and able tondle additional traffic. Curlin Commons will be situated to the rear of the 18 acre parcel, but will be visiblem Highway 150 and Overhead Bridge Road. Project signage will be located at the entrance off Overhead

idge Road and should be visible from Highway 150.gree of on-site negative features and physical barriers that will impede project construction or adverselyect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, largeulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-tability for residential use and difficulties posed by the building(s), such as limited parking, environmental

oblems or the need for excessive demolition).ee original application

milarity of scale and aesthetics/architecture between project and surroundings.ee original application

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



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Grocery Store Community/SeniorCenter

Mall/Strip Center Hospital

Outdoor Athletic Fields Pharmacy

Day Care/After School Basic Health Care

Schools

Public Transportationop

Convenience Store

Public Parks

Gas Station

Library

her facilities or services:


12.6

3

5 .1

.1

5

4


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evelopment Team

vide contact information for development team members below:

nagement Agent mpany: Excel Property Managment

ddress: 1004 Bullard Court, Suite 106

ty: Raleigh State: NC Zip:

one Email:

ntact Name: First: Rita Last: Blackmon

hitect mpany: Tise Kiester Architects

ddress: 119 E. Franklin Street, Suite 300

ty: Chapel Hill State: NC Zip:

one Email:

ntact Name: First: Don Last: Tise

orney mpany: Jordan Price Wall

ddress: 1951 Clark Avenue

ty: Raleigh State: NC Zip:

one Email:

ntact Name: First: Susan Last: Ellinger

estor mpany: Apollo

ddress: 2101 Rexford Road, Suite 375W

ty: Charlotte State: NC Zip:

one Email:

ntact Name: First: Brian Last: Flanagan

nsultant/Application Preparer (if different from developer) mpany:

ddress:

ty: State: Zip:

one Email:

ntact Name: First: Last:


27615

(919)878-0522 [email protected]

27612


27605


28211



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neral Contractor Identity of Interest?ompany: Crosland (or other as negotiated)

ddress: 227 W. Trade Street, Suite 800

ty: Charlotte State: NC Zip:

one Email:

ntact Name: First: Susan Last: Lloyd


28202



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ojected Operating Costs

Project Operations (Year One) Administrative Expenses

Advertising

Office Salaries

Office SuppliesOffice or Model Apartment Rent

Management Fee

Manager or Superintendent Salaries

Manager or Superintendent Rent Free Unit

Legal Expenses (Project)

Auditing Expenses (Project)

Bookkeeping Fees/Accounting ServicesTelephone and Answering Service

Bad Debts

Other Administrative Expenses (specify):

SUBTOTAL

Utilities Expense

Fuel Oil

Electricity (Light and Misc. Power)Water

Gas

Sewer

SUBTOTAL

Operating and Maintenance Expenses

Janitor and Cleaning Payroll

Janitor and Cleaning Supplies

Janitor and Cleaning Contract

Exterminating Payroll/Contract

Exterminating Supplies

Garbage and Trash Removal

Security Payroll/Contract

Grounds Payroll


1,000

2,500

16,070

17,000

1,500

4,900

1,5623,000

Training, travel, postage1,500

49,032

8,000

8,000

5,000

21,000

500

1,000

924

2,000


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Grounds Supplies

Grounds Contract

Repairs Payroll

Repairs Material

Repairs Contract

Elevator Maintenance/Contract

Heating/Cooling Repairs and Maintenance

Swimming Pool Maintenance/Contract

Snow Removal

Decorating Payroll/Contract

Decorating Supplies

Other (specify):

Miscellaneous Operating & Maintenance Expenses

SUBTOTAL

Taxes and Insurance

Real Estate Taxes

Payroll Taxes (FICA)

Miscellaneous Taxes, Licenses and Permits

Property and Liability Insurance (Hazard)

Fidelity Bond Insurance

Workmen's Compensation

Health Insurance and Other Employee Benefits

Other Insurance:

SUBTOTAL

Supportive Service Expenses

Service Coordinator

Service Supplies

Tenant Association Funds

Other Expenses (specify):

SUBTOTAL

Reserves

Replacement Reserves

SUBTOTAL


2,800

6,000

12,480

1,500

3,000

3,500

1,000

2,000

1,000

37,704

23,000

2,903

12,990

70

1,200

40,163

0

10,000

10,000


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TOTAL OPERATING EXPENSES

ADJUSTED TOTAL OPERATING EXPENSES (Does not include taxes, reserves and resident support services) *TOTAL UNITS(from total units in the Unit Mix section)

PER UNIT PER YEAR


157,899

124,899

40

3,122


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2. "Total Operating Expenses" comes from 1st-year cash flow, then it is escalated by 4% per year.3. "Debt Service" is the sum of "regular/amortized loan debt service + non-amortizing annual service" as entered by user from

Funding Sources section.4. "Net Cash Flow" is "Net Rental/Other Income" minus "Total Operating Expenses" minus "Debt Service".5. "Debt Coverage Ratio" is ("Net Rental/Other Income" minus "Total Operating Expenses") divided by "Debt Service".



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inimum Set-Asides

NIMUM REQUIRED SET ASIDES (No Points Awarded):

Select one of the following two options:

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

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

If requesting RPP funds:40% of the units 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.

Tax Exempt BondsThreshold 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 targeting points (select one):At least twenty percent (20%) of qualified units will be affordable to and occupied by households with incomes at or below fiftypercent (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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ull Application Checklist

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

A Nonprofit Organization Documentation or For-profit Corporation Documentation

B Current Financial Statements/Principals and Owners (signed copies)

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

D Management Agent Agreement

E Owner and Management Experience & Management Questionnaire (Appendix C)

F Local Government Letter or Letter from Certified Engineer or Land Surveyor Confirming Floodplain Designation with Mapshowing all flood zones (original on letterhead, no fax or photocopies)

G Local Government Letter Confirming Zoning including any pending notices or hearings (original on letterhead, no fax orphotocopies)

H Letters from Local Utility Providers regarding availability and capacity (original on letterhead, no fax or photocopies)

I Documentation from utility company or local PHA to support estimated utility costs

J Appraisal (required for land costs greater than $15,000 and for all Adaptive Re-use and Rehab projects)

K Site plan, floor plans and elevations for all projects. Scope of work for Adaptive Re-use and Rehab projects. (Full Size, 24 x 36inches)

L Hazard and structural inspection and termite reports (Adaptive Re-use and Rehab projects only)

M Copy of certificate of occupancy or proof of placed-in-service date (Rehabs Only)

N Proposed Relocation Plan including relocation budget and copies of notices. Required for all Rehabs and any projectsinvolving existing occupants of any dwellings to be rehabbed or demolished.

O Evidence of Permanent Loan Commitment and other sources of funds ( i.e. Equity letter, AHP, RD and local governmentfunds). For Rehabs with existing loans provide 1) copies of loan documents, 2) current loan balances from existing lenders withreserve balances, 3) letter from lender that outlines assumption requirements.

P Local Housing Authority Agreement and Project Based Rental Assistance Letter, if applicable (Sample letters provided inAppendix I). For projects with existing PBRA contracts, provide a copy of the current contract and bank statement or otherdocumentation verifying reserve balances and annual reserve contribution requirements.

Q Statement regarding terms of Deferred Developer Fee. If a nonprofit is involved, a resolution from their board approvingdeferral of fee is required.

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

Documents

Curlin Commons App