New River Gardens

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  • 8/7/2019 New River Gardens




    This application was prepared using Excel, Microsoft Office 2003. Please note that using the active Excel

    workbook does not eliminate the need to submit the required PDF of the signed hardcopy of the application and

    related documentation. A more detailed explanation of application submission requirements is provided

    below and in the Application Manual.

    An electronic copy of your completed application is a mandatory submission item.

    Applications For 9% Competitive Credits

    Applicants should submit an electronic copy of the application either on CD or by email, or both, prior to theapplication deadline, which is 2:00 PM Richmond Virginia time on March 12, 2010. Failure to submit an electroni

    copy of the application by the deadline will cause the application to be disqualified.

    Applications For Tax Exempt Bond Credits

    Applicants should submit an electronic copy of the application either on CD or by email, or both, at the at the time

    of application submission. Applications will not be processed until an electronic copy is received.


    VHDA assumes no responsibility for any problems incurred in using this spreadsheet or for theaccuracy of the calculations. Check your application for correctness and completeness before

    submitting the application to VHDA.

    Entering Data:

    Enter numbers or text as appropriate in the blank spaces highlighted in yellow. All other cells are

    protected and will not allow any changes. The format for cells has been set to accept text, currency,

    percentages, etc. as appropriate. Enter any number without commas or dollar signs. Enter

    percentages beginning with a decimal point. There is no text wrap-around feature, so care must be

    taken to enter text so that it does not extend beyond the right margin of the page. Enter in only enough

    text to fill one line and then drop to the first yellow cell of the next line. Each page of the application is a

    separate sheet in the spreadsheet. The spreadsheet contains numerous error checks which are

    designed to assist you in identifying potential mistakes in your application. Please note that these may

    appear as you enter data because many are dependent on entries later in the application. Do not be

    concerned with these messages until all data has been entered. Also note that some cells contain

    error messages such as "#DIV/0!" before you begin. These warnings will disappear as you enter

    numbers necessary to complete the application.


    If you have any questions, please call Jim Chandler at (804) 343-5786, Dale Wittie at (804)

    343-5876, Cara Wallo at (804) 343-5714, Jaynell McFarland at (804) 343-5733 or Debbie Griner

    at (804) 343-5518. Please note that we cannot release the copy protection password.

    Staff email - - -

    NEW in 2010Applicants should submit all application materials in electronic format only beginning in 2010There should be 6 distinct files saved to 1 or more CDs and should include the following:1. Application For Reservation the active Microsoft Excel workbook2. A PDF file which includes the following:

    - Application For Reservation Signed version of hardcopy- All application attachments (i.e. tab documents, excluding market study and plans & specs)

    3. Market Study PDF or Microsoft Word format4. Plans - PDF or other readable electronic format5. Specifications - PDF or other readable electronic format (may be combined into the same file as th

    plans if necessary)6. Unit-By-Unit work write up (rehab only) - PDF or other readable electronic format

    Notes: -Do not submit any files on a flash drive.-Do not submit any application materials via or to any em

    address unlessspecifically requested by the VHDA Allocation Department staff.

    v1/8/2010 Instructions

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    2010 Federal Low Income Housing

    Tax Credit Program

    Application For Reservation


    Virginia Housing Development Authority

    601 South Belvidere Street

    Richmond, 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 onemonth before the bonds are priced(if bonds issued by

    VHDA), or 75 days 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) (MANDAT

    Electronic 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 Certification

    A.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 (MANDATOR

    Tab 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 Letter

    Tab I: Local CEO Letter

    Tab J: Homeownership PlanTab K: Site Control Documentation & Most Recent Real Estate Tax Assessment (MANDATORY)Tab L: Plan of Development Certification Letter

    Tab M: Zoning Certification LetterTab N: Copies of 8609s To Certify Developer Experience

    Tab O: (Reserved)

    Tab P: Plans and Specifications and Work Write-Up (MANDATORY)

    Tab Q: Documentation of Rental Assistance

    Tab R: Documentation of Operating Budget

    Tab S: Documentation of Project Budget

    Tab T: Documentation of Financing SourcesTab U:

    Documentation To Request Exception To Restriction-Pools With Little/No Increase In Rent Burdened Population

    Documentation of site location in an urban development area as defined in 15.2-2223.1of the Code of Virginia

    Documentation 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 Virginia

    Tab 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 inorganizing the submission in the following order, and actually using tabs to mark them as shown, will facilitate review of yourapplication. Please note that all mandatory items must be included for the application to be processed. The inclusion of otheritems may increase the number of points for which you are eligible under VHDA's point system of ranking applications, and mayassist VHDA in its determination of the appropriate amount of credits that it may reserve for the development.

    v12.31.09 Submission Checklist

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    Low-Income Housing Tax Credit Application For Reservation


    I. General Information

    All code "Section" references are to, and the term "IRC" shall be deemed to mean, March 9, 2010

    the Internal Revenue Code of 1986, as amended. (Date of Application)

    A. Development Name and Location:

    1. Name of Development New River Gardens II Apartments

    2. Address of Development 300 Jeffries Drive

    (Street)Radford VA 24141

    (City) (State) (Zip Code)

    3. If complete address is not available, provide longitude and latitude coordinates (x,y) from

    location 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 Radford City (ie; Richmond City, Chesterfield County; see application manual)

    5. Does the site overlap one or more jurisdictional boundaries? Yes new No

    If yes, what other City/County is the site located in besides the one mentioned above?

    6. Census Tract the development is located in: 102

    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 f