Eastside Green

8/6/2019 Eastside Green

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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: Eastside Green Apartments

Address: Cedar Creek Road

City: Fayetteville County: Cumberland Zip: 28312

Census Tract: 14 Block Group: 2-2029

No

Yes

Political Jurisdiction: City of Fayetteville

Jurisdiction CEO Name: First: Last:Marshall Pitts Title: Mayor

Jurisdiction Address: 433 Hay Street

Jurisdiction City: Fayetteville Zip: 28301

Jurisdiction Phone: (910)433-1992

Site Latitude: 35.0364

Site Longitude: -78.8464

Page 1 of 34Print - APP04-0067

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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: and number of units:and number of units:

Target Population: Family

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

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 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: 6 of the 60 units will be handicapped accessible. 6 of the units will target the disabled/homelesspopulations and will have a very low rent of $150 per month.





Applicant Information

Applicant Name: United Developers, Inc.

Address: P.O. Drawer 42208

City: State: NC Zip:Fayetteville 28309

Contact: First: Last: Title:Murray Duggins

Telephone: (910)485-6600

Alt Phone: (910)485-6600

Fax: (910)483-4274

Email Address: [email protected]





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

8 -8

A small area of wetlands (acreage not yet determined) borders a portion of the site.

No

No

Yes

No









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

If yes provide:

Purchase Date: Purchase Price:

If no:

Site Control

No

(a) Does the owner/principal or ownership entity have vaild 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 for

purchase of the property and the seller of the property?If yes, specify the relationship:

No

(c) Enter the current expiration date of the option/contract to purchase: 10/15/2004

(D) Enter Purchase Price: 180,000





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

R6

Yes

No

No

No





Ownership Entity

Owner Name: Eastside 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: Eastside 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: General Partner


City: Fayetteville State: NC Zip: 28309

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

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







** 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.





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 15 targeted at 40 percent of median income.





60





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 451,000 7.25 20 30 36,919

RPP Loan 500,000 2.00 20 20Local Gov. Loan - Specify:City of Fayetteville

100,000 2.00 20 20

RD 515 Loan

RD 538 Loan - Specify:

AHP Loan

Other Loan 1 - Specify:



Tax Exempt Bonds

State Tax Credit(Loan) 847,625 0 30 30 0

State Tax Credit(Direct Refund)

Equity: Federal LIHTC 2,644,751

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees 50,637

Owner Investment

Other - Specify:

Total Sources** 4,594,013

* "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 Loan

Year:Amt:

1

21853

2

22007

3

22102

4

22133

5

22095

6

21983

7

19793

8

19519

9

19155

10

18696

Year:Amt:

11

18134

12

17465

13

16680

14

15772

15

14734

16

13558

17

12235

18

10757

19

9114

20

7296

Local Gov. Loan - City of Fayetteville

Year:Amt:

1

0

2

0

3

0

4

0

5

0

6

0

7

2000

8

2000

9

2000

10

2000

Year:Amt:

11

2000

12

2000

13

2000

14

2000

15

2000

16

2000

17

2000

18

2000

19

2000

20

2000





Development Costs

Item Cost Element TOTAL COSTEligible Basis

30% PV 70% PV

1 Purchase of Buildings (Rehab) 0

2 Demoli tion

3 On-site Improvements 450,000 450,000

4 Rehabilitation

5 Construction of New Building(s) 2,600,000 2,600,000

6 Accessory Building(s)

7 General Requirements 183,000 183,000

8 Contractor Overhead 64,660 64,660

9 Contractor Profit 193,980 193,980

10 Construction Contingency 104,749 104,749

11 Architect's Fee - Design 105,620 105,620

12 Architect's Fee - Inspection

SUBTOTAL (lines 1 through 12) 3,702,009

13 Construction Insurance (prorate)

14 Construction Loan Orig. Fee (prorate)

15 Construction Loan Interest (prorate) 75,000 75,000

16 Construction Loan Credit Enhancement (prorate)

17 Construction Period Taxes (prorate) 5,000 5,000

18 Water, Sewer and Impact Fees 10,000 10,000

19 Survey 5,000 5,000

20 Property Appraisal 6,000 6,000

21 Environmental Report 5,000 5,000

22 Market Study 4,000 4,000

23 Bond Costs (specify)

24 Cost of Issuance

25 Placement Fee

26 Permanent Loan Origination Fee

27 Permanent Loan Credit Enhancement

28 Title and Recording

SUBTOTAL (lines 13 through 28) 110,000

29 Real Estate Attorney 46,000 46,000

30 Other Attorney's Fees

31 Tax Credit App Fees 24,118 24,118

32 Accounting Fees 5,000 5,000

33 Tax Opinion

34 Organizational (Partnership)

35 Tax Credit Monitoring Fee 36,000


36 Furnishings and Equipment 6,000 6,000

37 Relocation Expenses

38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 345,000 345,000

39 Other Basis Expense (specify)

40 Other Basis Expense (specify)

41 Rent-up Expenses

42 Other Non-basis Expense (specify)

43 Other Non-basis Expense (specify)


44 Rent up Reserve 18,000







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:

Market Study Information

Cedar Creek Green Apartments will be located on approximately 8 acres in eastern CumberlandCounty. The location off of Cedar Creek Road chosen for this project is part of a comprehensiveredevelopment plan initiated by the City of Fayetteville. The Fayetteville City Council unanimouslyadopted the plan on October 28, 2002. A copy of that plan is included in this application.

Cedar Creek Green will be a 60 unit family project located in 8 buildings with a seperateoffice/community building. The rent structure has been made very affordable. While the applicationtargets families at both 50% and 60% of the median income, 15 of the units will target those at 40%or below the median income and 6 of those units will target the disabled/homeless populations andhave a very low rent of $150 per month.

The surrounding site is a mix of residential and commercial property. Shopping,medical services anda public transportation stop are located just a few feet from the site. As with any revitalization area,the surrounding area is a mix of well maintained homes and businesses and those in a state ofdisrepair. The addition of Cedar Creek Green will be an asset to the neighborhood and a catalyst forimproving the appearance of the existing residential properties.Part of the revitalization plan calls forstreetscape improvements, development of a gateway at Cedar Creek Road and the creation of aneighborhood commons.

The first steps of the plan are currently underway and include the completetion of the EastsideNeighborhood Park, street paving and extension and neighborhood clean-up projects. The passageof Senate Bill 1312 will allow the city to condemn and remove buildings in a "community

development target area" much easier and quicker.

Yes

Golfview Apartments4131 Fescue CourtHope Mills, NC

Crosswinds Green I & II3415 Town StreetHope Mills, NC

Longview Apartments117 Longview DriveFayetteville, NC

Blanton Green I & II

1024 Lauren McNeill LoopFayetteville, NC

Rosehill West Apartments1945 James Hamner WayFayetteville, NC

Raeford Green Apartments300 Southern AvenueRaeford, NC

Woodgreen ApartmentsBradford DriveAberdeen, NC





Site Amenities (check all that apply):

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.

Southview Green Apartments (under construction)Elk RoadHope Mills, NC

Bunce Green Apartments (under construction)Bunce RoadFayetteville, NC

River View Green Apartments (under construction)

Riverview CourtRoanoke Rapids, NC

Palmer Green Apartments (under construction)Palmer StreetRaeford, NC

Community Bldg - Sq Ft: 1,428 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

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





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.Presently, the neighborhood is a mix of well maintained homes and business and those in need ofrepairs. The area surrounding the site appears to be growing as evidenced by the new shoppingcenter located directly at the site. All spaces appear to be occupied and an out parcel has been builtand has no vacancies.

The City of Fayettville is encouraging development east of the Cape Fear River.Currently there is noaffordable housing east of the river.

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).

The homes surrounding the site are primarily single family residences. The commercial propertiesare limited to retail and professional offices.The vacant land is wooded and undeveloped.

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).Cedar Creek Road is a wide four lane road with adequate traffic controls.

A Fayetteville Area System of Transit has a bus stop located in the parking lot of the shoppingcenter directly in front of the Dollar General Store.

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 is wooded and is zoned for residential development.There are very small areas of wetlands that border the site but do not present any problems with thelayout of the buildings. There are no environmental concerns at the site.

Similarity of scale and aesthetics/architecture between project and surroundings.The design, layout and construction of this project will be an asset to the community.





Other facilities or services:

Grocery Store.0 Community/Senior Center.9

Mall/Strip Center.0 Hospital3.5

Outdoor Athletic Fields2.1 Pharmacy.0

Day Care/After School.5 Basic Health Care.0

Schools2.1 Medical Offices.0

Public Transportation Stop.0 Bank/Credit Union1.5

Convenience Store.2 Restaurants.0

Basketball/Tennis Courts2.1 Professional Services.0

Public Parks2.3 Movie Theater2.9

Gas Station.2 Video Rental.0

Library2.2 Public Safety (Fire/Police).3

Fitness/Nature Trails2 Post Office.3

Public Swimming Pools

(.0) Cedar Creek Shopping Center is located directly at the site and contains a grocery store with

pharmacy, video store, restaurants and a public transportation stop.







Development List 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:

Management List 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 2

Units: 736 56

North Carolina Other States

Projects: 24 6

Units: 920 176

No

No

No

No

Yes





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:





Project Operations (Year One)

Projected Operating Costs

Administrative Expenses

Advertising 2,000

Office Salaries 3,500

Office Supplies 2,000

Office or Model Apartment Rent

Management Fee 25,000

Manager or Superintendent Salaries 12,000

Manager or Superintendent Rent Free Unit

Legal Expenses (Project) 2,500

Auditing Expenses (Project) 3,500

Bookkeeping Fees/Accounting Services

Telephone and Answering Service 4,500

Bad Debts

Other Administrative Expenses (specify):

SUBTOTAL 55,000

Utilities ExpenseFuel Oil

Electricity (Light and Misc. Power) 7,500

Water 2,000

Gas

Sewer 2,500

SUBTOTAL 12,000

Operating and Maintenance Expenses

Janitor and Cleaning Payroll

Janitor and Cleaning Supplies

Janitor and Cleaning Contract 6,000

Exterminating Payroll/Contract 3,500

Exterminating Supplies

Garbage and Trash Removal 4,000

Security Payroll/Contract

Grounds Payroll

Grounds Supplies

Grounds Contract 20,000

Repairs Payroll 6,000

Repairs Material 3,000

Repairs Contract 3,000

Elevator Maintenance/Contract

Heating/Cooling Repairs and Maintenance 6,000

Swimming Pool Maintenance/Contract

Snow Removal

Decorating Payroll/Contract

Decorating Supplies 1,000

Other (specify):

Miscellaneous Operating & Maintenance Expenses

SUBTOTAL 52,500

Taxes and Insurance

Real Estate Taxes 27,000

Payroll Taxes (FICA) 5,000

Miscellaneous Taxes, Licenses and Permits





Property and Liability Insurance (Hazard) 12,000

Fidelity Bond Insurance

Workmen's Compensation 1,000

Health Insurance and Other Employee Benefits 500

Other Insurance:

SUBTOTAL 45,500

Supportive Service Expenses

Service Coordinator 5,000

Service Supplies

Tenant Association Funds

Other Expenses (specify):

SUBTOTAL 5,000

Reserves

Replacement Reserves 15,000

SUBTOTAL 15,000

TOTAL OPERATING EXPENSES 185,000

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

138,000

TOTAL UNITS(from total units in the Unit Mix section) 60

PER UNIT PER YEAR 2,300







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:Pennco Series 2070 Type/Construction: Vinyl, Single Hung,Thermal Break,Tilt Sash

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

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:





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 20,070 12,690 32,760

Backfill-slab, Crawl 0 0 0

Slab-concrete/Rebar/Gravel 63,900 52,200 116,100

Waterproofing 0 0 0

Masonry Foundation 9,450 8,100 17,550

Brick Veneer 30,420 45,900 76,320

Steel/Structure/Rails 39,420 46,260 85,680

Framing/Lumber/Nails 153,090 252,720 405,810

Trusses 98,700 98,700

Crane Rental 10,800 10,800

Windows/Grilles/Screen 25,020 25,020Exterior Doors 63,270 63,270

Roofing 17,550 12,150 29,700

Fencing 21,150 6,300 27,450

Vinyl Siding/Trim/Box 66,960 60,390 127,350

Gutters/Shutters 6,750 7,650 14,400

Insulation 22,590 33,930 56,520

Drywall 80,640 53,730 134,370

Interior Doors 38,520 89,820 128,340

Int. & Final/Stair/Trim/Shelves 0 0 0

Cabinets & Tops 44,190 66,240 110,430

Painting 57,150 46,800 103,950

Marble - Tub/Shwr/Tops 0 0 0

Plumbing 82,170 116,460 198,630

Electrical 55,170 73,170 128,340

Heating/Air Conditioning 58,050 95,490 153,540

Floor Covering and Underlayment 24,300 56,700 81,000

Wall Paper 16,200 16,200 32,400

Mailboxes/Special Features/Signage 450 5,310 5,760

Gypcrete 0 0 0

Blinds/Shades/Art Work 5,400 12,600 18,000

Light Fixtures/Fans 0 0 0

Sprinkler System 0 0 0

Security Alarm 0 0 0

Hardwood Floors 0 0 0

Elevator 0 0 0

Ceramic Tiles 0 0 0

Acoustical Ceilings 0 0 0





Remarks:

Mirror/Shower Door/Encls. 0 0 0

Hardware/Bath Access. 32,040 32,040

Appliances 95,850 95,850

Playground Equipment 3,800 3,800

Interior Clean 16,470 16,470

Exterior Clean/Dumpster Rental 15,120 15,120

Other 1 (specify in Remarks) 9,720 8,640 18,360

Other 2 (specify in Remarks) 61,200 74,970 136,170

Total Cost 1,016,100 1,583,900 2,600,000

1. Driveway/Sidewalk/Porch2. Site Utilities





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 103,263

Job Site Office/Trailer Rental 7,319

Office Supplies 0

Security/Watchman 15,889

Project Signage 0

Tools and Equipment 3,758

Gas, Oil, and Maintenance 0

Temporary Water, Electric, and Telephone 6,211

Storage/Hauling 0

Driveway Access Permit 12,615

Porta-John Rental/Dumping 6,211Builders Risk Insurance 7,318

Re-inspection Fees 0

Extra Plans and Specifications 0

Miscellaneous, Casual Labor 0

Equipment Rental 0

Other 1 (specify in Remarks) 10,112

Other 2 (specify in Remarks) 10,304

Total Cost 183,000

1. Water & Sewer Connection Fees2. Dumpster Rental & Landfill Fees





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 129,383

Demolition 0

Earthwork/Excavation/Aerating 32,919

Soil Treatment 9,132

Pile Foundations 0

Caissons 0

Shoring/Bracing 0

Site Drainage 44,738

Site Utilities/Site Lighting 9,309

Paving and Surfacing/Curb and Gutter 116,383Walkways 0

Site Signage 3,488

Parking Lot Painting 1,861

Dumpster Pads/Fencing 9,074

Fencing/Gates 0

Landscaping/Topsoil 93,713

Rock and Hardpan Excavation 0

Site Supervision Personnel 0

Other (specify in Remarks)

Total Cost 450,000





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





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





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:

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 countymedian 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.

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.





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

Eastside Green