Holly Park

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

Does a community revitalization plan exist?

Print Preview - Final Application

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

Project Name and Location

Project Name: Holly Park

Address: # TBD Birch Street

City: Raeford County: Hoke Zip: 28376

Census Tract: 9704 Block Group:

No

No

Political Jurisdiction: Town of Raeford

Jurisdiction CEO Name: First: Last:Bob Gentry Title: Mayor

Jurisdiction Address: PO Box 606

Jurisdiction City: Raeford Zip: 28376

Jurisdiction Phone: (910)875-8161

Site Latitude:

Site Longitude:

Page 1 of 34Print - APP04-0053

1/14/2005https://www.nchfa.org/Rental/RTCApp/(cx0ikm45pkymjsmgt2c5dxai)/site/PrintApp.aspx...

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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 project based federal rental assistance?

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

Target Population: Elderly (RHS/HUD)

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

Project Description

Project Type:* New Construction Rehab Adaptive Reuse

No

Yes

2727

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

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

Remarks:



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Applicant Information

Applicant Name: Southland Partners LLC

Address: 131 Matthews Station St, Suite 2-F

City: State: NC Zip:Matthews 28105

Contact: First: Last: Title:Tom Honeycutt Manager

Telephone: (704)321-1526

Alt Phone:

Fax: (704)321-1562

Email Address: southllc@al ltel.net



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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 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:

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

Site Description

3.5 3.5

No

No

Yes

No



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

If yes provide:

Purchase Date: Purchase Price:

If no:

Site Control

Yes

5/29/2003 88,000

(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:



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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:

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

RMF-12

Yes

No

No

No



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[email protected] 240-86-7030

Org: Timothy L. Gunderman

First Name: Tim Last Name: Gunderman Function: Member

Address: 2021 Cross Beam Drive

City: Charlotte State: NC Zip: 28217

Phone: (704)357-6000 Fax: (704)357-1881

EMail: [email protected] Nonprofit: No TaxID 105-40-1626



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The Median Income for Hoke county is $45,200.

Low Income Units

Employee Units (will add to Low Income Unit total)

Market Rate Units

Statistics

Square Footage Information

Notes

Unit Mix

Type # BRs Net Sq.Ft.Total

# Units#Units

MonthlyRent

UtilityAllowance

MandatoryServ. Fees

**TotalHousing Exp.

Gdn Apt 1 644 26 2 495 60 0 555

Gdn Apt 2 847 1 1 550 73 0 623

Utilites included in rents: Water/Sewer Electric Gas Other


# Units#Units

MonthlyRent

UtilityAllowance

MandatoryServ. Fees

**TotalHousing Exp.

Gdn Apt 2 847 1 0 0 73 0 73



# Units#Units

MonthlyRent

UtilityAllowance

MandatoryServ. Fees

**TotalHousing Exp.


AllUnits

Units

Gross MonthlyRental Income

Low Income....... 28 3 13420

Market Rate.......

Totals............... 28 3 13420

Proposed number of residential buildings: 7 Maximum number of stories in buildings: 1

Project Includes:Separate community building -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area): 1,1201,120

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: 24,000

Total Net Sq. Ft. (All Heated Areas): 19,644

** 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.



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

Total Low Income Units:

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

Targeting

# BRs Units %

1 12 targeted at 50 percent of median income.




28



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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 0

RPP Loan 0Local Gov. Loan - Specify:

0

RD 515 Loan 250,000 1.00 30 50 6,355

RD 538 Loan - Specify:0

AHP Loan 170,000 0.00 15 15 11,333

Other Loan 1 - Specify:Southeastern Hsg. Pres. Inc.

59,720 0.00 30 30

Other Loan 2 - Specify:AHP Loan

120,000 4.00 15 15 10,651

Other Loan 3 - Specify:

0

Tax Exempt Bonds 0

State Tax Credit(Loan) 542,979 0 30 30 0

State Tax Credit(Direct Refund) 0

Equity: Federal LIHTC 1,082,223

Non-Repayable Grant 0

Equity: Historic Tax Credits 0

Deferred Developer Fees 0

Owner Investment 65

Other - Specify:

Total Sources** 2,224,987

* "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.

756

The Southeastern funds are from a grant from the FHLB of Atlanta and being made as a loanto Holly Park LLC in order to keep these funds in basis. There is no annual paymentrequirement, so the amount shown below are incorrect and the program would not allow meto change the number back to 0.



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Other Loan 1 - Southeastern Hsg. Pres. Inc.

Year:Amt:

1

500

2

500

3

500

4

500

5

500

6

500

7

500

8

500

9

500

10

500

Year:Amt:

11

500

12

500

13

500

14

500

15

500

16

500

17

500

18

500

19

500

20

500



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Development Costs

Item Cost Element TOTAL COSTEligible Basis

30% PV 70% PV

1 Purchase of Buildings (Rehab) 0 0

2 Demolition 0 0

3 On-site Improvements 295,000 295,000

4 Rehabilitation 0 0

5 Construction of New Building(s) 1,031,354 1,031,354

6 Accessory Building(s) 0 0

7 General Requirements 75,593 75,593

8 Contractor Overhead 26,710 26,710

9 Contractor Profit 106,838 106,838

10 Construction Contingency 46,065 46,065

11 Architect's Fee - Design 37,740 37,740

12 Architect's Fee - Inspection 7,560 7,560

SUBTOTAL (lines 1 through 12) 1,626,860

13 Construction Insurance (prorate) 0 0

14 Construction Loan Orig. Fee (prorate) 19,684 19,684

15 Construction Loan Interest (prorate) 75,595 75,595

16 Construction Loan Credit Enhancement (prorate) 0 0

17 Construction Period Taxes (prorate) 2,000 2,000

18 Water, Sewer and Impact Fees 0 0

19 Survey 16,000 16,000

20 Property Appraisal 2,800 2,800

21 Environmental Report 2,400 2,400

22 Market Study 7,500 7,500

23 Bond Costs (specify) 0

24 Cost of Issuance 0

25 Placement Fee 0

26 Permanent Loan Origination Fee 26,246

27 Permanent Loan Credit Enhancement 0

28 Title and Recording 0

SUBTOTAL (lines 13 through 28) 152,225

29 Real Estate Attorney 23,000 23,000

30 Other Attorney's Fees 0 0

31 Tax Credit App Fees 11,492 11,492

32 Cost Certification 3,600 3,600

33 Tax Opinion 2,000

34 Organizational (Partnership) 0

35 Tax Credit Monitoring Fee 9,800


36 Furnishings and Equipment 14,000 14,000

37 Relocation Expenses 0 0

38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 255,000 255,000

39 Other Basis Expense (specify)

40 Other Basis Expense (specify)

41 Rent-up Expenses 2,592

42 Other Non-basis Expense (specify)

43 Other Non-basis Expense (specify)


44 Rent up Reserve



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Comments:

45 Operating Reserve 36,418

46 Other Reserve (specify)

47 Other Reserve (specify)

48 DEVELOPMENT COST (lines 1-47) 2,136,987 0 2,059,931

49 Less Federal Financing 250,000

50 Less Disproportionate Standard

51 Less Nonqualified Nonrecourse Financing

52 Less Historic Tax Credit (residential) 0

53 TOTAL ELIGIBLE BASIS 1,809,931 0 1,809,931

54 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%

55 Basis Before Boost 1,809,931 0 1,809,931

56 Boost for QCT/DDA (if applicable, enter 130%) 100.00% 100.00%

57 TOTAL QUALIFIED BASIS 1,809,931 0 1,809,931

58 Tax Credit Rate 0.00% 7.91%

59 Federal Tax Credits at Estimated Rate 143,165 0 143,165

60 Federal Tax Credits at 8.5% or 3.75% 153,844 0 153,844

61 Federal Tax Credits Requested 143,038 0 143,038

62 Land Cost 88,000

63 TOTAL REPLACEMENT COST 2,224,987



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Please provide a detailed description of the proposed project:

Construction (check all that apply):

Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches

Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding

Other:

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

If yes, please provide name and address:

Site Amenities (check all that apply):

Onsite Activities:

Landscaping Plans:

Market Study Information

This is an elderly RD property obligated from the 2002 NOFA for RD 515 development funds andproject based rental assistance for all units. The FHLB funds are also obligated. RA is available for27 dwelling units, one unit set aside for the resident manager. The site is set up as quadraplexesand has a seperate community bldg. with a laundry room and office.

Yes

Creekridge, School House Road, Middlesex,NC

Community Bldg - Sq Ft: 1,120 Community Room - Sq Ft: Garages - Number:

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

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

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

Irrigated Lawns Security Gate Car Care Area Storage Units Gazebos

Walking Trails Garden Spots Basketball/Tennis Court Playground Ball Field

Pool Fitness Stations Horseshoe Pit Shuffleboard Covered Drive Thru

The community bldg. provides space for resident activities (meetings, meals, etc.), a laundry room,on site office, warming kitchen, TV, covered and uncovered patio in back.

Extensive landscaping to compliment the units. Cost will be in excess of the minimum requirement.



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Interior Apartment Amenities (check all that apply):

Flooring: Carpet Vinyl Wood Wood Parquet Ceramic Tile Other

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

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

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

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

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

Yes



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Briefly describe your site in each of the following categories:

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

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). Concentration of

affordable housing.Neighborhood condition is new construction to older homes, generally in good repair. There is a newtax credit family site down the street from this site which has recently rented up and several newbusiness buildings surrounding our site. Economic health in the area is good with continuing growthpredicted.

Suitability of surrounding development. Land use pattern is primarily residential (single andmultifamily housing) with a balance of other uses (particularly retail and amenities). Amount andcharacter of vacant, undeveloped land. Effect of industrial, large-scale institutional or otherincompatible uses: wastewater treatment facilities, high traffic corridors, junkyards, prisions, landfills,large swamps, distribution facilities, frequently used railroad tracks, power transmission lines andtowers, factories or similar operations, sources of excessive noise, and sites with environmentalconcerns (such as odors or pollution).

Surrounding development is a mix of professional, business, industry, multi-family and single familyresidential. Shopping and downtown areas are convenient. There is very little undeveloped land inthe immediate area and no immediate effects from what might be considered adverse uses, none ofwhich are immediately adjacent to the subject property, with the exception of the railroad which willbe buffered with berms (made from excess site dirt), landscaping and fencing at the towns request.

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).Site is served by a new street with appropriate controls. The street is considered to be used by localtraffic only and therefore not heavily traveled.

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.None, however the rail line near the back of the site will be bermed and recieve landscape treatmentdesigned to minimize noise. The town has required a fence along a good portion of the property linewhich will discourage foot traffic in that area.

Similarity of scale and aesthetics/architecture between project and surroundings.Surrounding architecture is a mix of single and 2 story residential, professional and commercial typebuildings. Our design is single story quadraplexes designed to blend with the neighborhood and ourresidents with an appealing and safe home.



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Other facilities or services:

Grocery Store.5 Community/Senior Center

Mall/Strip Center1 Hospital1.5

Outdoor Athletic Fields Pharmacy.5

Day Care/After School Basic Health Care.5

Schools.5 Medical Offices.1

Public Transportation Stop Bank/Credit Union.75

Convenience Store1 Restaurants1

Basketball/Tennis Courts Professional Services.75

Public Parks Movie Theater

Gas Station1 Video Rental

Library.75 Public Safety (Fire/Police).75

Fitness/Nature Trails Post Office1

Public Swimming Pools



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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: 17 16

Units: 475 626

North Carolina Other States

Projects: 49 63

Units: 1,462 2,009

No

No

No

No

Yes



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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:



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Project Operations (Year One)

Projected Operating Costs

Administrative Expenses

Advertising 1,680

Office Salaries 0

Office Supplies 500

Office or Model Apartment Rent 0

Management Fee 20,088

Manager or Superintendent Salaries 0

Manager or Superintendent Rent Free Unit 0

Legal Expenses (Project) 101

Auditing Expenses (Project) 3,850

Bookkeeping Fees/Accounting Services 0

Telephone and Answering Service 1,026

Bad Debts 0

Other Administrative Expenses (specify):0

SUBTOTAL 27,245

Utilities ExpenseFuel Oil 0

Electricity (Light and Misc. Power) 2,600

Water 1,800

Gas 0

Sewer 1,648

SUBTOTAL 6,048

Operating and Maintenance Expenses

Janitor and Cleaning Payroll 0

Janitor and Cleaning Supplies 0

Janitor and Cleaning Contract 0

Exterminating Payroll/Contract 980

Exterminating Supplies 0

Garbage and Trash Removal 1,500

Security Payroll/Contract 0

Grounds Payroll 0

Grounds Supplies 0

Grounds Contract 5,712

Repairs Payroll 7,169

Repairs Material 2,500

Repairs Contract 0

Elevator Maintenance/Contract 0

Heating/Cooling Repairs and Maintenance 2,500

Swimming Pool Maintenance/Contract 0

Snow Removal 0

Decorating Payroll/Contract 2,016

Decorating Supplies 0

Other (specify):0

Miscellaneous Operating & Maintenance Expenses 0

SUBTOTAL 22,377

Taxes and Insurance

Real Estate Taxes 18,832

Payroll Taxes (FICA) 1,536

Miscellaneous Taxes, Licenses and Permits 300



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Property and Liability Insurance (Hazard) 5,600

Fidelity Bond Insurance 300

Workmen's Compensation 1,000

Health Insurance and Other Employee Benefits

Other Insurance:

SUBTOTAL 27,568

Supportive Service Expenses

Service Coordinator 0

Service Supplies 0

Tenant Association Funds 0

Other Expenses (specify):0

SUBTOTAL 0

Reserves

Replacement Reserves 18,209

SUBTOTAL 18,209

TOTAL OPERATING EXPENSES 101,447

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

64,406

TOTAL UNITS(from total units in the Unit Mix section) 28

PER UNIT PER YEAR 2,300



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Design Features

ITEM DESCRIPTION

Foundation/Slab Components monolithic turn down slab on grade

Primary WindowsMake: Model:Alenco or equal thermal break frame andsash

Type/Construction: vinyl

Exterior DoorsType: Frames:

1 3/4" six panelinsulated metal wood

Siding Type: Grade/Thickness:vinyl .044

Warranty: limited lifetime

Exterior Trim prefinished aluiminum wrapped and prefinished aluminum columns

Shingles Type: Weight:anti fungal 3 tab 225# Warranty: 25 years

Sprinkler System per NC building code

Cabinets "mesa" by Marsh or equal

Heat Pump SEER: Make:11.0 seer Carrier or equal

Model:

Air Conditioner SEER: Make:see heat pump

Model:

Other Heat Systems SEER: Make:n/a

Model:



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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 0 0

Backfill-slab, Crawl 0 0

Slab-concrete/Rebar/Gravel 89,600 89,600

Waterproofing 0 0

Masonry Foundation 0 0

Brick Veneer 44,000 44,000

Steel/Structure/Rails 0 0

Framing/Lumber/Nails 125,720 125,720

Trusses 38,000 38,000

Crane Rental 2,500 2,500

Windows/Grilles/Screen 16,000 16,000Exterior Doors 16,600 16,600

Roofing 36,000 36,000

Fencing 0 0

Vinyl Siding/Trim/Box 49,500 49,500

Gutters/Shutters 8,000 8,000

Insulation 19,000 19,000

Drywall 69,000 69,000

Interior Doors 12,500 12,500

Int. & Final/Stair/Trim/Shelves 25,675 25,675

Cabinets & Tops 46,000 46,000

Painting 38,000 38,000

Marble - Tub/Shwr/Tops 0 0

Plumbing 81,000 81,000

Electrical 82,000 82,000

Heating/Air Conditioning 81,000 81,000

Floor Covering and Underlayment 27,340 27,340

Wall Paper 0 0

Mailboxes/Special Features/Signage 7,400 7,400

Gypcrete 0 0

Blinds/Shades/Art Work 5,100 5,100

Light Fixtures/Fans 0 0

Sprinkler System 0 0

Security Alarm 0 0

Hardwood Floors 0 0

Elevator 0 0

Ceramic Tiles 0 0

Acoustical Ceilings 0 0



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Remarks:

Mirror/Shower Door/Encls. 3,000 3,000

Hardware/Bath Access. 10,119 10,119

Appliances 22,000 22,000

Playground Equipment 11,500 11,500

Interior Clean 3,300 3,300

Exterior Clean/Dumpster Rental 9,500 9,500

Other 1 (specify in Remarks) 0 0

Other 2 (specify in Remarks) 52,000 52,000

Total Cost 1,031,354 0 1,031,354

Other 2 - permits and feesOur contractor has based these numbers on subcontract and informs us that a material vs laborbreakdown is not available at this time.



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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 50,000

Job Site Office/Trailer Rental 1,000

Office Supplies 800

Security/Watchman 0

Project Signage 200

Tools and Equipment 1,000

Gas, Oil, and Maintenance 1,800

Temporary Water, Electric, and Telephone 1,000

Storage/Hauling 400

Driveway Access Permit 0

Porta-John Rental/Dumping 500Builders Risk Insurance 3,600

Re-inspection Fees 0

Extra Plans and Specifications 250

Miscellaneous, Casual Labor 4,000

Equipment Rental 7,800

Other 1 (specify in Remarks) 3,243

Other 2 (specify in Remarks)

Total Cost 75,593

Other 1 - Cleanup/Dumpster Rental



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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 Explorat ion/Perk Testing/Site Engineering 7,000

Clearing/Grading/Final Grading/Excess and Borrow 67,000

Demolition 0

Earthwork/Excavation/Aerating 5,000

Soil Treatment 2,000

Pile Foundations 0

Caissons 0

Shoring/Bracing 0

Site Drainage 35,000

Site Utilities/Site Lighting 63,600

Paving and Surfacing/Curb and Gutter 63,000Walkways 14,000

Site Signage 4,000

Parking Lot Painting 900

Dumpster Pads/Fencing 2,500

Fencing/Gates 0

Landscaping/Topsoil 31,000

Rock and Hardpan Excavation 0

Site Supervision Personnel 0

Other (specify in Remarks) 0

Total Cost 295,000

Utility cost includes pump station



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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 0

Credit Enhancement 0

Underwriter Discount 0

Capital Interest Fund 0

Other 1 (specify in Remarks) 0


Total Cost 0



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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 0

Issuer Counsel 0

Credit Enhancement/LOC Counsel 0

Underwriter Counsel 0

Developer's Counsel 0

Rating Agency Fee 0

Printing 0

Trustee Fee 0

Trustee Counsel 0

Issuer's Fee 0

Other 1 (specify in Remarks) 0Other 2 (specify in Remarks) 0


Total Cost 0



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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:

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 Letters from Local Utility Providers (original on letterhead, no fax or photocopies)

I Local Government Letter or Letter from Certified Engineer or Land Surveyor Confirming Floodplain Designation with Mapshowing 100 year and 500 year floodplain (original on letterhead, no fax or photocopies)

J Local Government Letter Confirming Zoning (original on letterhead, no fax or photocopies)

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

L Site plan, floor plans and elevations

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

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

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

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

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

R Targeting Plan and supporting documentation (Required for all projects)

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

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

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

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

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

X Documentation to support estimated utility costs.


Documents

Holly Park