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Check all that apply:
Federal Low Income Housing Tax Credit
State Low Income Housing Tax Credit
Tax Exempt Bonds
Rental Production Program (RPP) Loan
Requested RPP Loan Amount:RPP Loan Product Requested: Multi-Family Production
Print Preview - Final Application
Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans
Resources Requested
556,672
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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 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:
Square Footage Information
Project Description
Project Type:* New Construction Rehab Adaptive Reuse
No
Yes
2424
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to other federal and staterequirements)
Persons with disabilities or homeless populations: the greater of 5 units or 10% of the total units
Remarks: Five units will be targeted to persons with disabilities. See enclosed targeting plan.
Proposed number of residential buildings: 1 Maximum number of stories in buildings: 1
Types of Units:* Townhouse Duplex Garden Apartment Detached Single-Family
Project Includes:Separate community building -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area):
Community space within residential bulding(s) -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area): 8,4308,430
Elevators -- Number of Elevators:Number of Elevators:
Gross Floor Square Footage: 31,400
Total Net Sq. Ft. (All Heated Areas): 31,143
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Applicant Information
Applicant Name: Evergreen Construction Company
Address: 7706 Six Forks Road, Suite 202
City: State: NC Zip:Raleigh 27615
Contact: First: Last: Title:Tim Morgan Vice President
Telephone: (919)848-2041
Alt Phone: (919)630-3383
Fax: (919)848-0455
Email Address: [email protected]
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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 in a distressed neighborhood?
If yes, does a community revitalization plan exist?
Is the site directly accessed by an existing, paved, publicly maintained road?
If no, please explain:
Is any portion of the site located inside the 100 year floodplain?
If yes:(a) Describe placement of project buildings in relation to this area:
Site Description
3.4313 3.4313
No
No
No
Yes
No
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(b) Describe flood mitigation if the project is in the East Region and will have improvements within the 100 year floodplain:
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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
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: 08/31/2003
(D) Enter Purchase Price: 65,000
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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:
Is a public hearing of any kind required in the future for you to fully develop this property?
If yes, describe the nature of the hearing and when you expect the hearing will be held:
Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office review?
If yes, describe below:
Are there any existing conditions of environmental significance located on the project site?
If yes, describe below:
Zoning
RM - Residential Multi-Family
Yes
No
No
No
No
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List each applicable unit mix combination in a separate row below. Click [Add] to create another row. Click "X" (at the left of each row) todelete a row.
Low Income Units
Market Rate Units
Statistics
Notes
Unit Mix
Type # BRs Net Sq.Ft.Total
# Units#Units
MonthlyRent
UtilityAllowance
MandatoryServ. Fees
**TotalHousing Exp.
Gdn Apt 1 625 4 3 495 79 0 574
Gdn Apt 2 838 3 2 540 102 0 642
Gdn Apt 1 625 12 0 495 79 0 574
Gdn Apt 2 838 6 0 540 102 0 642
Utilites included in rents: Water/Sewer Electric Gas Other
Type # BRs Net Sq.Ft.Total
# Units#Units
MonthlyRent
UtilityAllowance
MandatoryServ. Fees
**TotalHousing Exp.
Utilites included in rents: Water/Sewer Electric Gas Other
AllUnits
Units
Gross MonthlyRental Income
Low Income....... 25 5 12780
Market Rate.......
Totals............... 25 5 12780
* Paint-to-Paint Square Footage
** 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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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 255,000 255,000
4 Rehabilitation
5 Construction of New Building(s) 1,302,000 1,302,000
6 Accessory Building(s)
7 General Requirements 93,420 93,420
8 Contractor Overhead 33,008 33,008
9 Contractor Profit 99,025 99,025
10 Construction Contingency 53,474 53,474
11 Architect's Fee - Design 47,500 47,500
12 Architect's Fee - Inspection 10,000 10,000
SUBTOTAL (lines 1 through 12) 1,893,427
13 Construction Insurance (prorate)
14 Construction Loan Orig. Fee (prorate) 8,500 8,500
15 Construction Loan Interest (prorate) 55,000 55,000
16 Construction Loan Credit Enhancement (prorate)
17 Construction Period Taxes (prorate) 2,000 2,000
18 Water, Sewer and Impact Fees 19,525 19,525
19 Survey 36,000 36,000
20 Property Appraisal 5,000 5,000
21 Environmental Report 2,500 2,500
22 Market Study 7,500 7,500
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 2,000
SUBTOTAL (lines 13 through 28) 138,025
29 Real Estate Attorney 15,000 15,000
30 Other Attorney's Fees 6,000 6,000
31 Tax Credit App Fees 11,196 11,196
32 Cost Certification/Accounting Fees (Cost Cert.) 5,000 5,000
33 Tax Opinion
34 Organizational (Partnership) 500
35 Tax Credit Monitoring Fee 15,000
SUBTOTAL (lines 29 through 35) 52,696
36 Furnishings and Equipment 35,000 35,000
37 Relocation Expenses
38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 298,067 298,067
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)
SUBTOTAL (lines 36 through 43) 333,067
44 Rent up Reserve 36,193
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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:
Market Study Information
We are proposing to construct a twenty-five (25) unit senior rental community on Snow Hill Road inAyden. The project will consist of (16) one bedroom, one bath units and (9) two bedroom, one bathunits for persons 62 years of age and older. The project will participate in the RD 515 program andwill have 24 units of rental assistance. The design of the building is such that all units are groundfloor garden style units. The main entrance is secured with a call panel entry system. All exterior
doors are self locking. We will have over 8,400 s.f. of common area space for the residents use.There will be a computer room, a library/reading room, a multi-purpose room with a kitchen, avending room, a TV/game room, an exercise room, two laundry rooms, an exam room, andadditional storage rooms for the residents use. We will have units set aside for households at 40%and 50% of the county median income. In addition, we will have a contracted supportive servicescoordinator through the Pitt County Council on Aging.
30 Year Dimensional Roof Shingles and a Covered Drive Thru Entrance.
Yes
Willow Spring Apartments700 Spring Forest RoadGreenville, NC 27834 (Pitt)
Silver Spring Apartments601 Pony RoadZebulon, NC 27597 (Wake)
Meadow Spring Apartments190 Fieldspring LaneRaleigh, NC 27606 (Wake)
Garden Spring Apartments2830 Kidd RoadRaleigh, NC 27610 (Wake)
Community Bldg - Sq Ft: Community Room - Sq Ft: 8,430 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
Continuous sidewalk all the way around the permiter of the building for outdoor exercise.
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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.
The building will have landscaped plantings in front of each of the apartments, placed in mulchedbeds. Trees will also be planted around the building and common areas. The interior courtyard willalso be landscaped with plantings in mulched beds. The budgeted amount for landscaping is $1,000per unit. A detailed landscape plan will be submitted with the full application.
Range Hood Dishwasher Disposal Refrigerator (frost free) Storage interior/exterior
W/D Hookups Mini-blinds Pantry Ceiling fans Walk-in closets
VCT
Yes
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Briefly describe your site in each of the following categories:
Applicant's Site Evaluation
NEIGHBORHOOD CHARACTERISTICS
Physical condition of buildings and improvements. Trend and direction of real estate developmentrelative to the project. Area economic health (degree of decline or investment).
The physical condition of the surrounding uses is fair to good. There are new for-sale duplexesbeing constructed further down Snow Hill Road as you head towards Hwy 11. New growth is alsooccurring just on the other side of Hwy 11. I would summize the economic health of the area assteady.
Suitability of surrounding development. Land use pattern is primarily residential with a balance ofother uses, including non-competing multifamily and single family units, relevant amenities, shoppingand services.The surrounding land uses are primarily residential. Adjacent to the site is the Liberty ArmsAparments, which is a section 8 housing authority property. Across the street are single-familyhomes. Heading towards Hwy 11, there is a nursing home and new for-sale duplexes. The majorityof shopping is located on W. Third street which runs parallel to Snow Hill Road.
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).The site is serviced by Snow Hill Road, which is a lightly traveled road that feeds into Hwy 11. It ismore than adequate to serve the needs of this development.
Amount and character of vacant, undeveloped land. Effect of industrial, large-scale institutional orother incompatible uses: wastewater treatment facilities, high traffic corridors, junkyards, prisons,landfills, large swamps, distribution facilities, frequently used railroad tracks, power transmission linesand towers, factories or similar operations, sources of excessive noise, and sites with environmentalconcerns (such as odors or pollution).There is a large tract of vacant land (approx. 25 acres) adjacent to this site that is for sale. It used tobe farm land. Then adjacent to that is a tract of land that is being developed as for-sale single-familyduplexes. There are no offensive land uses or excessive noise concerns associated with this site.
Degree of on-site negative features and physical barriers that will impede project construction oradversely affect future tenants; for example: power transmission lines and towers, flood hazards,steep slopes, large boulders, ravines, year-round streams, wetlands, and other similar features. Foradaptive re-use projects- suitability for residential use and difficulties posed by the building(s), suchas limited parking, environmental problems or the need for excessive demolition.None exist.
Similarity of scale and aesthetics/architecture between project and surroundings.Our building is a one story design, which will fit in with the surrounding uses.
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For each applicable neighborhood feature, enter distance from project in miles.
Other facilities or services:
Concentration of affordable housing (housing credit, project-based rental assistance, public housing).Next to the site is the Liberty Arms Apartments which is a public housing project. Ayden also has
two RD-515 Elderly developments, Cardinal Pointe (24 units) and Briarcliff Manor (40 units). Inaddition to this, there are two RD-515 Family developments, Greenbriar Village (52 units) andFairmont Village (50 units). All of the above mentioned have 100% rental assistance and stayoccupied and maintain waiting lists.
Availability of Supportive Services (if applicable):We will be contracting with the Pitt County Council on Aging for our supportive services coordinator.
Grocery Store1.24 Community/Senior Center
Mall/Strip Center1.24 Hospital11.0
Outdoor Athletic Fields.8 Pharmacy1.12
Day Care/After School.58 Basic Health Care.74
Schools.8 Medical Offices.67
Public Transportation Stop Bank/Credit Union1.12
Convenience Store1.12 Restaurants1.12
Basketball/Tennis Courts.41 Professional Services.7
Public Parks.41 Movie Theater9.46
Gas Station1.24 Video Rental1.24
Library.44 Public Safety (Fire/Police).73
Fitness/Nature Trails.41 Post Office.73
Public Swimming Pools
See vicinity map for other facilities and services.
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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: 9 0
Units: 370 0
North Carolina Other States
Projects: 17 0
Units: 728 0
No
No
No
No
No
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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? No
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 300
Other Administrative Expense (specify):1,000
Office SalariesOffice Supplies
Office or Model Apartment Rent
Management Fee 8,600
Manager or Superintendent Salaries 10,000
Manager or Superintendent Rent Free Unit
Legal Expenses (Project) 250
Auditing Expenses (Project) 4,000
Bookkeeping Fees/Accounting Services
Telephone and Answering Service 2,500
Bad Debts
Other Administrative Expenses (specify):
SUBTOTAL 26,650
Utilities Expense
Fuel Oil
Electricity (Light and Misc. Power) 6,500
Water 2,500
Gas
Sewer 2,500
SUBTOTAL 11,500
Operating and Maintenance Expenses
Janitor and Cleaning Payroll
Janitor and Cleaning Supplies
Janitor and Cleaning Contract
Exterminating Payroll/Contract 2,500
Exterminating Supplies
Garbage and Trash Removal 4,500
Security Payroll/Contract
Grounds Payroll
Grounds Supplies 2,500
Grounds Contract 6,000
Repairs Payroll 8,000
Repairs Material 1,500
Repairs Contract 1,500
Elevator Maintenance/Contract
Heating/Cooling Repairs and Maintenance
Swimming Pool Maintenance/Contract
Snow Removal
Decorating Payroll/Contract 750
Decorating Supplies 750
Other (specify):
Miscellaneous Operating & Maintenance Expenses 400
SUBTOTAL 28,400
Taxes and Insurance
Real Estate Taxes 12,500
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Payroll Taxes (FICA) 1,800
Miscellaneous Taxes, Licenses and Permits 250
Property and Liability Insurance (Hazard) 8,050
Fidelity Bond Insurance 50
Workmen's Compensation 900
Health Insurance and Other Employee Benefits 1,000
Other Insurance:
SUBTOTAL 24,550
Supportive Service Expenses
Service Coordinator 5,000
Service Supplies 1,000
Tenant Association Funds
Other Expenses (specify):
SUBTOTAL 6,000
Reserves
Replacement Reserves 18,100
SUBTOTAL 18,100
TOTAL OPERATING EXPENSES 115,200
ADJUSTED TOTAL OPERATING EXPENSES(Does not include taxes, reserves and resident support services) *
78,600
TOTAL UNITS(from total units in the Unit Mix section)
25
PER UNIT PER YEAR 3,144
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Design Features
ITEM DESCRIPTION
Foundation/Slab Components Brick and block foundation with concrete slab
Primary Windows Make: Model:Silverline 2900 Type/Construction: Vinyl-Tilt Sash w/5/8" Insulated Glass - 6/6 Lite
Exterior DoorsType: Frames:
Commercial Grade-Metal Metal
Siding Type: Grade/Thickness:Vinyl .044
Warranty: Lifetime
Exterior Trim Vinyl and Aluminum Coil
Shingles
Type: Weight:
Tamko-Dimensional
Shingles
Heritage
Series Warranty: 30 Years
Sprinkler System Wet System
Cabinets Cardell Millenia Series - Oakbrook Gold - Wood Cabinets
Heat Pump SEER: Make:11 Rheem
Model: RPLA-024-JAC
Air Conditioner SEER: Make:11 Rheem
Model: RPLA-024-JAC
Other Heat Systems SEER: Make:
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 3,200 4,800 8,000
Backfill-slab, Crawl 0
Slab-concrete/Rebar/Gravel 29,800 44,700 74,500
Waterproofing 0
Masonry Foundation 0
Brick Veneer 26,000 21,450 47,450
Steel/Structure/Rails 0
Framing/Lumber/Nails 98,300 135,500 233,800
Trusses 0
Crane Rental 6,000 6,000
Windows/Grilles/Screen 16,250 16,250Exterior Doors 25,000 25,000
Roofing 11,900 17,400 29,300
Fencing 2,500 2,500
Vinyl Siding/Trim/Box 41,150 41,150
Gutters/Shutters 2,850 2,850
Insulation 19,000 19,000
Drywall 83,500 83,500
Interior Doors 10,000 10,000
Int. & Final/Stair/Trim/Shelves 14,130 21,100 35,230
Cabinets & Tops 47,000 47,000
Painting 41,300 41,300
Marble - Tub/Shwr/Tops 0
Plumbing 105,000 105,000
Electrical 128,500 128,500
Heating/Air Conditioning 117,000 117,000
Floor Covering and Underlayment 32,500 32,500
Wall Paper 0
Mailboxes/Special Features/Signage 14,500 14,500
Gypcrete 0
Blinds/Shades/Art Work 3,800 3,800
Light Fixtures/Fans 0
Sprinkler System 115,000 115,000
Security Alarm 0
Hardwood Floors 0
Elevator 0
Ceramic Tiles 0
Acoustical Ceilings 0
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Remarks:
Mirror/Shower Door/Encls. 0
Hardware/Bath Access. 6,000 6,000
Appliances 30,500 30,500
Playground Equipment 0
Interior Clean 7,000 7,000
Exterior Clean/Dumpster 9,000 9,000
Other 1 (specify in Remarks) 10,370 10,370
Other 2 (specify in Remarks) 0
Total Cost 205,330 1,096,670 1,302,000
Masonry Foundation included in Brick Veneer.Trusses included in Framing.Labor Costs for the following are included in Materials:Vinyl Siding, Gutters, Insulation, Drywall,Cabinets, Painting, Plumbing, Electrical, HVAC, Floor Covering, Mailboxes, Blinds, SprinklerSystem, Hardware/Bath, Other 1-VCT.
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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 45,000
Job Site Office/Trailer Rental 4,500
Impact Fees
Office Supplies 500
Security/Watchman
Water and Sewer Connection Fees
Project Signage 1,000
Tools and Equipment
Gas, Oil, and Maintenance
Cleanup/Dumpster Rental 8,500
Temporary Water, Electric, and Telephone 3,000Storage/Hauling 2,500
Driveway Access Permit
Porta-John Rental/Dumping 720
Builders Risk Insurance 7,500
Re-inspection Fees
Extra Plans and Specifications 250
Miscellaneous, Casual Labor 7,500
Equipment Rental 4,000
Other 1 (specify in Remarks) 8,450
Other 2 (specify in Remarks)
Total Cost 93,420
Other 1 - Various Permits for Construction
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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 Exploration/Perk Testing/Site Engineering
Clearing/Grading/Final Grading/Excess and Borrow 5,200
Demolition
Earthwork/Excavation/Aerating 47,800
Soil Treatment 3,000
Pile Foundations
Caissons
Shoring/Bracing
Site Drainage
Site Utilities/Site Lighting 67,000
Paving and Surfacing/Curb and Gutter 81,000Walkways 6,000
Site Signage 5,000
Parking Lot Painting
Dumpsite Pads/Fencing 2,500
Fencing/Gates 2,500
Landscaping/Topsoil 35,000
Waterproofing/De-Watering
Operation of Construction Equipment/Fuel/Oil
Crane Rental
Rock and Hardpan Excavation
Site Supervision Personnel
Other (specify in Remarks)
Total Cost 255,000
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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
Credit Enhancement
Underwriter Discount
Capital Interest Fund
Other 1 (specify in Remarks)
Other 2 (specify in Remarks)
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:
High Income county:
At least twenty-five percent (25%) of qualified units will be affordable to households with incomes at or below thirty percent (30%) ofcounty median income.
At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below thirtypercent (30%) of county median income.
At least fifty percent (50%) of qualified units will be affordable to households with incomes at or below forty percent (40%) of countymedian income.
At least fifty percent (50%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.
Moderate Income County:
At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below fortypercent (40%) of county median income.
At least fifty percent (50%) of qualified units will be affordable to households with incomes at or below fifty percent (50%) of county
median income.At least fifty percent (50%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent(50%) of county median income.
Low Income County:
At least forty percent (40%) of qualified units will be affordable to households with incomes at or below fifty percent (50%) of countymedian income.
At least forty percent (40%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent(50%) of county median income.
Tax Exempt Bonds
Threshold requirement (select one):
At least ten percent (10%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent
(50%) of county median income.
At least five percent (5%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.
Eligible for mortgage subsidy points (select one):
At least twenty percent (20%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent(50%) of county median income.
At least ten percent(10%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.
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PLEASE indicate which of the following exhibits are attached to your application. Others may be required as noted.
Full Application Checklist
A Nonprofit Organization Documentation or For-profit Corporation Documentation
B Current Financial Statements/Principals and Owners
C Ownership Entity Agreement, Development Agreement or any other agreements governing development services
D Management Agent Agreement
E Development and manager multi-family experience & Management Questionnaire (Appendix C)
F Letters from State Housing Agencies or designated monitoring agent verifying Out of State Management Experience
G Completed IRS Form 8821 (Appendix I)
H Permitted zoning letter (including conditional and special use)
I Site plan, floor plans and elevations
J Hazard and structural inspection and termite reports (Renovation projects only)
K Description of any existing conditions of historical significance.
L Description of environmental significance.
M Anticipated budget demonstrating how the project would meet the 10% test by November 14th.
N Evidence of Architect's Errors and Omissions insurance (or equivalent).
O Description of acquisition for existing/occupied projects or for projects with occupied buildings to be demolished.
P Description of proposed Relocation Plan & Relocation Budget, Etc. If any relocation is anticipated, reference Appendix F.
Q Targeting Plan and supporting documentation (Required for projects targeted to Special Populations)
R Local Housing Authority Agreement (Reference Model in Appendix I)
S Appraisal (for land costs greater than $5,000 and for buildings in rehab projects)
T Evidence of Permanent Loan Commitment, other sources of funds, and project-based subsidies.
U Statement regarding terms of Deferred Developer Fee and, if nonprofit, resolution of Board approving fee.
V Inducement Resolution (Tax-Exempt Bond Financed Projects only)
W Documentation to support estimated utility costs.
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