application for home funds general instructions

2020 Application for HOME Funds of 5

City of Eugene 99 W. 10th Avenue Eugene, Oregon 97401 (541) 682-5443 (541) 682-5572 FAX www.eugene-or.gov

APPLICATION FOR HOME FUNDS General Instructions

Application Components: The Application for HOME funds has three parts, all of which must be submitted for an application to be reviewed:

1. Narrative QuestionsThis WORD document contains the Narrative Questions portion of the application. The NarrativeQuestions are divided into Sections. For example, Section 1 is Project Summary.

2. Project Proforma & Other FormsThe Project Proforma & other forms portion of the application are EXCEL documents.

3. Common AttachmentsThe Table of Contents of this document lists the attachments that are required behind each section.

Application Assembly:

Applications must include a completed and signed Table of Contents/Self-Certification.

Applications must include a completed Attachment B Project Compatibility with HOME Fundingchecklist.

The Attachment C and Attachment D Application requires 10 Sections as outlined in the Table ofContents. Materials should be organized in the following manner:

o First, insert the responses to the narrative questions behind labeled section tabs for itscorresponding Section

o Second, insert relevant Formso Third, insert required attachments labeled with the name of the Attachment.

Please print double-sided whenever possible.

Submit Your Application by 12:00 pm (noon) Wednesday October 28, 2020.

Mail one (1) copy of the application to Ellen Meyi-Galloway at 99 W 10th Ave. Eugene, OR 97401

Submit an electronic copy via email to [email protected]

mailto:[email protected]


HOME/Affordable Housing RFP Application Table of Contents/Self-Certification Checklist

Project Description

Section 2 Project Description

Attachments Preliminary drawings and site plan

Documentation of Site Control

Informational Notice to Seller (if acquisition project)

Documentation that proposed Project meets Zoning and Land Use laws

Title Report (if available)

Photos of the site, buildings, and interiors of units (if existing units)

Need & Population Served

Section 3 Need & Population Served

Relocation

Section 4 Relocation

Form 4 Relocation Budget

Attachments Tenant Relocation Plan

General Information Notice issued to all current occupants

Self-certifications of Income for all current occupants

Tenant Rosters (current and last 30 days)

Draft Move-In Notice

Draft Intent to Vacate Notice

Project Schedule

Section 5 Project Schedule narrative

Form 5 Project Schedule

Development Budget(s)

Section 6 Development Budget(s) narrative

Form 6 Proforma

Attachment B Checklist

Project Compatibility with HOME Funding

Project Summary

Section 1 Project Summary

Attachments Map showing project location, nearby facilities and distances


Project Financing

Section 7 Project Financing

Attachments Funding commitment or interest letters

Description of status of investor negotiations

Systems Development Charge estimate calculation (if applicable)

Project Operations

Section 8 Operating Budget narrative

Attachments Documentation of utility allowance schedule

Development Team

Section 9 Project Team

Form 9 Identity of Interest Matrix

Attachments Development consultant agreement

Most recent audited financial statement and current year operating budget

Borrowing Resolution or ownership entity approval to borrow HOME Funds

Services

Section 10 Services

Attachments Memorandum of Understanding

Services funding commitment letters

If any item listed above is not checked or is not applicable to your project, please reference the specific document and provide an explanation here:

Project Description: No information notice or pictures are required because the project in question is new construction. Furthermore, there is no title report readily available at this time. Relocation: The project in question does not require any relocation. Project Financing: The project in question does not have any ongoing investor negotiations. Development Team: There will be no development consultant working on this project. Services: Because all services will be carried out by DevNW personnel, there are no MOU’s or other commitments from outside agencies.


Self-Certification of Threshold Requirements

I, Emily Reiman, CEO of DevNW acknowledge that I have completed the self-certified threshold checklist and that all the required documentation necessary to review this application has been included.

SIGNATURE OF AUTHORIZED OFFICIAL

Signature: Title: CEO

Name: Emily Reiman Date:

Organization: DevNW Project: Polk 2.0

10/28/2020


Attachment B SUBMIT THIS FORM WITH YOUR APPLICATION: PROJECT COMPATIBILITY WITH HOME FUNDING

As the applicant, it is your responsibility to know and understand the regulations and requirements of the funding source(s) you are applying for. The following questions will help you determine what local, state and federal requirements your project may be subject to. This is not exhaustive, and there may be other regulations or requirements pertaining to your project that are not covered in this questionnaire. Submit this form with your application.

PROJECT TITLE: Polk 2.0

1. Does your project meet application HOME income and rent limits? Yes No

2. Is your target population identified in the 2015 Consolidated Plan?Yes No

3. Do you have the capacity to maintain accurate income documentation andkeep records and data current, as required by the HOME program? Yes No

4. Is the proposed project within the Eugene City Limits or Springfield CityLimits? Yes No

5. Does the proposed project meet the existing local zoning and land use laws? Yes No (documentation must be included with application)

6. Do you have site control for the property? (If applying for the property at1505-1525 River Rd, check “Yes”) Yes No

7. If your project includes using HOME funds for acquisition, has a Notice toSeller been issued to the seller? (copy must be included with application) Yes No n/a

8. If new construction, do your plans and specs include Section 504 and StateBuilding Code requirements? (accessibility standards) Yes No n/a

9. If your project involves an existing building, is the existing structure lessthan 50 years old? Yes No n/a

10. Is the subject property vacant or occupied by the owner? Yes No

If it is not vacant:

Has a tenant Self-Certification been completed for each unit? Yes No n/a

General Information Notices Sent to existing occupants? Yes No n/a (copies of notices with acknowledgement of receipt must be included with the HOME application)

11. If relocation will occur, either temporary or permanent, have adequate fundsbeen set aside for this activity, and are they reflected in your application? Yes No n/a

12. If your project includes construction, is your project subject to federal Davis-Bacon wage requirements?

Yes No n/a

13. Is your project located outside the 100-year floodplain?Yes No


14. Is the project site free of any wetlands?Yes No

15. Is the project site free of any identified environmental contamination orhazards?

Yes No

16. Does your project leverage at least 25% of total project cost in non-federalsources of funds?

Yes No

17. Can you demonstrate a commitment of leveraged funds? Yes No

18. Does your project create/add additional units to the housing stock? Yes No

19. If your project is acquisition/rehabilitation in Springfield, does it createadditional units?

Yes No n/a

2020 Application for HOME Funds Section 1-1

SECTION 1 Project Summary

1. Project Name and Location

Project Name: Polk 2.0

Project Address: 89 N. Polk St.

City and Zip Code: Eugene, OR 97402

Project Map and Taxlot: Map 17-04-25-41 Tax lot: 4900

Current Zoning: R-2

Census Tract and Block Group: 004000-3-003

Name of Ownership Entity: Corvallis Neighborhood Housing Services Inc., DBA DevNW

Total HOME award requested: $754,539

2. Applicant Information

Organization: DevNW

Project Contact Person: Adam Dallimore

Phone: 541-345-7106 x 2071 Fax: N/A

Email: [email protected]

3. Development Consultant (if applicable)

Organization Name: N/A

Consultant Name: N/A

Phone: N/A Fax: N/A

Email: N/A

4. Will the Development Consultant serve as the primary project contact? Yes No N/A

5. Development Organization/Applicant Type (check only one):

Local Housing Authority Nonprofit Community, Neighborhood, State or Regional Organization Community Housing Development Organization (CHDO)

Other (please specify)



6. Rental Project Activity Type (check all that apply): Acquisition Rehabilitation/Preservation of Existing Rental Housing New Construction Rehab or Adaptive Reuse of an Existing Building (not currently residential) Redevelopment Mobile Home Park Preservation HUD/USDA Preservation Expiring Tax Credit Property

Mixed Use (please explain)


7. Proposed Ownership Structure (check all that apply) Nonprofit Limited Liability Corporation (LLC) Limited Liability Partnership (LLP) Limited Partnership (LP) CHDO Nonprofit Single Asset Entity Other Corporation Joint Venture Cooperative

Other, Describe:

8. For Existing Housing Only (check one): Privately Owned Publicly Owned Owned by Applicant


9. Total number of existing units: 0

Total number of units proposed: 13

Will there be a unit set aside for an on-site manager? Yes No

Rental Assistance

10. Are any existing low-income housing units that are part of the project currently Yes No receiving rental assistance?

11. Do you have a commitment for rental assistance to housing units in the project? Yes No


12. If yes to either, indicate the type of rental assistance: Section 8 Project Based Vouchers Section 8 Housing Choice Vouchers HUD 811/202 rental assistance contract

Other (please specify) N/A

13. Number of housing units receiving rental assistance: N/A

14. Number of years remaining on rental assistance contract: N/A

15. Is the project currently required to restrict rents? Yes No

a. If yes, what is the expiration date? N/A

Low Income Housing Tax Credits (LIHTC) 16. Does this project propose to use Low Income Housing Tax Credits? Yes No

a. If yes, please select the LIHTC type below:

4% tax credit/bond project

9% competitive project

Attachments Map showing project location, nearby facilities (schools, bus stops, parks, etc.) and distances to

those facilities

Section 1

Attachment 1: Maps

Type Name Distance to Project

Emergency Services Eugene-Springfield Fire Station #2 Eugene Police Department PeaceHealth Sacred Heart Medical

Center University District

0.9 Miles 3.1 Miles 2.5 Miles

Parks Sladden Park Skinner Butte Park Owen Rose Garden


Schools River Road Elementary School Kelly Middle School North Eugene High School


Grocery Stores Quick Stop Food Store Little Food Pantry Neighborhood Market Albertsons Fred Meyer

0.2 Miles 0.4 Miles 0.6 Miles 2.1 Miles 2.9 Miles

Bus Stop W/S of Railroad E of Polk E/S of Railroad N of Polk

476ft 0.1 Miles

Commercial/Social Services & Employment Opportunities

Head Start of Lane County Care Giver Career Supported Employment Services Center for Dialogue and Resolution

(Formerly Community Mediation Services) Meili Construction

0.3 Miles 0.2 Miles 1.8 Miles 0.1 Miles

0.3 Miles

Restaurants, Cafes, Eateries The Last Stand Coffee Co. Ojisan's Ramen The Peaceful Palate Food Truck Tacos Maria New Day Bakery

0.2 Miles 0.3 Miles 0.4 Miles 0.5 Miles 0.5 Miles

Attachment 1:

Map 1 MAP KEY

Project Location: 89 N. Polk

St.Emergency Services

Park

Grocery Store

Bus Stop

Commercial/Social Services &

Employment Opportunities

Restaurants, Cafes, Eateries

School

Attachment 1:

Map 2

MAP KEY

Project Location: 89 N. Polk

St.Emergency Services

Park

Grocery Store

Bus Stop

Commercial/Social Services &

Employment Opportunities

Restaurants, Cafes, Eateries

School

Attachment 1:


Section 2 Project Description

PROJECT CHARACTERISTICS Project Narrative 1. Please provide a brief narrative summary of the proposed project. Please include: location in the

community, project type (new construction vs. acquisition-rehab), and proposed affordability period.Describe target population and income level that would be served. Describe the market need/housingdemand in the city and the neighborhood in which the project is proposed. Please describe any uniqueproject characteristics. Also explain why an allocation of HOME funds is crucial to the successfulimplementation of your project and its affordability level(s).

Total number of units: 13

Number of proposed HOME units: 11

Have HOME funds previously been awarded to this project? Yes No

a. If yes, when does/did the affordability period end? N/A

Has your organization previously received HOME funds through the City of Eugene or City of Springfield? Yes No

Project Design 2. Provide a detailed description of the proposed design, construction, rehabilitation, and/or other

improvements. Include a description of how the design of the project is suitable for and will meet theneeds of targeted and Special Needs populations (if any).

The Polk 2.0 project was intentionally designed to address the specific needs of young adults who are

coming out of the foster system. Understanding that the residents have likely experienced varying degrees

of trauma and lack of personal safety earlier in their lives, the Owner-Designer team identified two central

goals: to provide for the needs of individuals, and to cultivate a community. These goals will be reached

through a set of design principles intended to create safe personal spaces within a communal setting.

Balancing privacy with a sense of belonging, these principles will shape and guide the project from

inception to design, and through construction.

The project is comprised of a new 2-story building housing 12 SRO’s, common spaces, and a manager’s

apartment. Site improvements include communal outdoor amenities for recreation and gardening, and

green open spaces. The project is integrated into the residential fabric of Eugene’s vibrant Whiteaker

neighborhood adjacent to parks, public transit, work places, and cultural / entertainment venues.

Each of the SRO units will be fully appointed for independent living, with a sleeping / living room; ample

daylight and views of the outdoors; a full bathroom; and a kitchenette consisting of a counter, cabinets,

sink, fridge, and microwave. Shared spaces are designed for casual interactions, group activities, and

individual use. The entry lobby will lead to a Common Room for dining, meeting, learning, and social

gatherings. Accessible to all residents, a full kitchen with a stocked pantry will be used both privately and

communally. A laundry room will serve all residents, and a 2nd-floor flex area will be furnished for

relaxation and studying. A covered patio and a gazebo will provide sheltered outdoor spaces linked via

pathways to a central lawn, a community garden, and ornamental landscaped areas.

PG: 24


3. Please describe any unique design components or characteristics of the Project.

In order to support both independent and communal living, the project design features areas and elements

that are flexible, serve multiple purposes, and delineate varying space types.

The main building lobby will be open to the Common Room, while a secondary entry door will lead to the

SRO’s lobby. This will enable guests’ access to the Common Room during a public event or a class, while

ensuring the privacy of the building’s residents. Similarly, a barn-style sliding door will allow the kitchen

to be either linked to, or separate from the Common Room.

The building manager’s apartment will be accessed through the SRO’s lobby and stairs, fostering ongoing

contact between the residents and the manager. At the same time, the apartment entry will be buffered

from the SRO’s hallway with a small vestibule, to provide the manager with a level of privacy. The

manager’s apartment’s 2nd-floor balcony, will double as a roof over the patio which will serve the

Common Room.

A 2-story apartment building exists on the property, and the site design intentionally provides separation

between the two buildings in order to safeguard the special-needs population in the new SRO building.

The existing building occupies the southwest corner of the site, and the new building will be positioned

away from it, near the northeast corner. The parking area will be used by all of the site’s inhabitants,

though the new building will be served by a separate path and a distinct entryway. The open lawn, gazebo

and community garden will occupy the site’s interior. These areas were designed as amenities for the SRO

building, though shared use by both buildings’ residents may be made available if deemed appropriate.

4. Does the Project include components that contribute to improved energy performance, thermalcomfort, a healthier indoor environment, increased durability and/or simplified maintenancerequirements? Does the Project meet any green building certification standards?

Consistent with DevNW’s commitment to sustainable development, Polk 2.0 is planned with a list of

strategies geared toward reducing the project’s ecological impact, and establishing a healthy environment.

The building will be designed to conserve energy via the following technologies: A high-performance

envelope will feature an air barrier membrane and insulation above code-mandated level. Highly

insulated windows will be arranged and sized to maximize daylighting and minimize the use of artificial

lighting. The HVAC concept will rely on split systems with high-efficiency air-to-air heat pumps for

heating & cooling, coupled with Heat Recovery Ventilation, smart programmable exhaust fans, and

controllable fresh air inlets. All lighting fixtures and appliances will be selected based on optimal energy

performance rating.

Materials and finishes selection criteria will include recycled content, manufacturing environmental

impact levels, and no/low-toxicity composition. Water will be conserved via low-flush / low-flow plumbing

fixtures.

The construction work and staging will be planned carefully to minimize detrimental site impact, and all

recyclable construction waste will be diverted from the landfill to local reclamation facilities. Stormwater

runoff from the building and site’s impermeable surfaces will be collected into a raingarden for

infiltration and treatment prior to the release of excess water into the City’s stormwater system. The

building’s roof and electrical system will be designed to accommodate future installation of a solar PV

array for on-site energy generation.


a. If planning to apply for Low Income Housing Tax Credits through Oregon Housing and Community Services (OHCS), which Sustainable Building Path will be integrated into the project design?

Enterprise Green Communities Earth Advantage Homes Leadership in Energy and Environmental Design (LEED) Not Applicable (not applying for LIHTC)

5. Does the Project meet Section 504 (Rehabilitation Act of 1973) accessibility standards? For new

construction and major rehabilitation projects with 5 or more units, 5% of units must be accessible to persons with physical disabilities and 2% have to be accessible to persons with sensory disabilities. For small projects or minor rehabilitation, accessibility improvements must be made to the maximum extent feasible. Please make a statement about your plan for accessible units.

DevNW is fully committed to accessibility in all housing projects, and is pursuing an exceptionally high

level of accessibility in the Polk 2.0 project. All common areas throughout the project site will be barrier-

free per current ADA standards, including: an accessible parking stall and all exterior paths; building

entries; the lobbies, Common Room, kitchen, bathroom, and laundry room; and the patio, gazebo, and a

minimum of 10% of the food garden beds. Additionally, one of the 12 SROS (equaling 8% of units) was

designed for persons with physical disabilities, with additional floor area to make it ADA-accessible. This

includes all required maneuvering clearances, and a transfer-style roll-in shower in the fully accessible

bathroom. Any of the 5 additional ground-floor SRO’s will be adaptable in the future into Type A or B

Units and / or to accommodate persons with sensory disabilities, when the need for additional accessible

units arises.

On-Site Amenities 6. Please describe any on-site amenities, including any project characteristics that address special needs of

the population you intend to serve:

From its conception, Polk 2.0 was envisioned as a home for youth aging out of the foster care system.

Most individuals within this category never had a stable home or community, and some have spent long

periods of time in group homes, institutions, or living on the street. DevNW created this project as a place

where residents can heal, gain strength, and mature – relying on a safe home, a sense of partnership, and

an array of support services as they move towards independent living and long term success. As such, each

aspect of the project and every area within the building and site were designed specifically to address the

unique individual needs of each resident, and build community.

Upon arrival to Polk 2.0, new residents will be led on a path through a spacious yard planted with trees,

shrubs, and native grasses. An open gazebo with picnic benches will overlook an open lawn ideal for

relaxation, and a south-facing food garden with raised beds. A covered porch and lobby will welcome the

newcomer into a generous, brightly lit Common Room with a fully-stocked kitchen, ADA bathroom, and

furniture that can be arranged for dining, learning, a community meeting, or a social event.

Passing near a shared laundry room and through an airy Flex Area with cozy furniture, the resident will

be led into her or his individual living unit with its kitchenette, full bathroom, storage closet, and a

sleeping / living room with large windows that open to views of the surrounding residential neighborhood,

trees, and sky. A place to call home.


Neighborhood/Off-Site Amenities 7. Briefly describe the property location, neighborhood, transportation options, local services and

amenities adjacent to the property. Describe the location relative to schools, jobs, and parks. Whatmakes this location suitable? (Please include these locations in the site map in Section 1.)

The property is located at 89 N. Polk St. in the Whiteaker Neighborhood, west of downtown Eugene. The

property is 1.7 miles (3-minute drive) away from River Road Elementary School, 3.1 mile (6-minute drive)

away from Kelly Middle School, and 2.9 miles (6-minute drive) away from North Eugene High School.

There are multiple grocery stores within walking distance from the property, such as Little Food Pantry,

The Neighborhood Market, and Red Barn Natural Grocery. Owen Rose Garden is just .9 miles away,

Sladden Park is .5 miles away, and Skinner Butte Park is 1.1 miles away. There are employment centers

within just a few miles, such as Care Giver Career (.5 miles), Cardinal Services, Inc. (1.2 miles), and

Supported Employment Services, Lane County (3.8 miles). The Whiteaker Neighborhood is known for its

number of eclectic cafés and eateries as well. Lastly, the site is conveniently located, providing multiple

transportation options to access various services important to the youths’ daily life. For example, the site

is within .1 miles of the 51 Bus line/.3 miles of the 40 Bus line, providing access to nearby high schools,

North Eugene HS and Willamette HS respectively. Importantly, the site is a short bus ride or walk to

Eugene’s main LTD bus terminal providing access to transportation throughout Eugene and Springfield.

The location of the site in downtown Eugene also adds to the walkability/bike-ability to nearby locations,

including various health clinics, as well as other social service agencies (multiple within 15 minute walk).

8. If planning to apply for 9% Low-Income Housing Tax Credits (LIHTC), please calculate the locationefficiencies of the proposed site (please skip if it is not applicable):

a. Walk Score (https://www.walkscore.com/):b. Proximity to the following (in number of miles):

Major grocery store

Public transit stop

Medical services

Public schools

Libraries

9. If planning to apply for 9% Low-Income Housing Tax Credits (LIHTC), please describe how the site fitsinto a Vulnerable Gentrification Area or an Opportunity Area as defined by OHCS. (Please skip if it is notapplicable):

Potential Development Obstacles 10. Are there any known issues or circumstances that may delay the project? Yes No

a. If yes, list issues below, including an outline of steps that will be taken and the time frameneeded to resolve these issues:


Neighborhood Notification 11. The level of neighborhood notification appropriate for a project is based on the size and proposed use,

but applicants are required to inform neighborhoods of the project.

a. For Eugene projects: in what neighborhood is the project located?

The Whiteaker Neighborhood

b. For Eugene projects: did you notify the applicable City Councilor for the site, and what was theCouncilor’s response?

The City Council is aware of our project. They have approved property tax exemption on the site.

c. For Springfield and Eugene projects: How did you notify the adjacent property owners and theneighborhood about the project?

Beginning in early 2019, DevNW has been in regular contact with the adjacent property owners to

introduce our expansion plans and receive feedback to promote positive communication and maintain

transparency throughout the development process. Despite some initial tension between DevNW and the

abutting neighbors regarding an access easement issue, DevNW and the neighbors have developed an

excellent working relationship. Upon receiving a funding commitment from Lane County for pre-

planning of the expansion we have worked with area neighbors to obtain the proper access easement to

ensure the project could proceed. To demonstrate their support, the neighbors recently volunteered to

provide a letter to the Eugene Planning Department in support of our adjustment application

d. Given the specific characteristics of your project, what will be done to encourage neighborhoodsupport? Describe how surrounding neighbors will continue to be informed about the project.Identify concerns that neighbors have raised and strategies to mitigate those concerns.

The Whiteaker Community Council supported the first phase of this project (when we acquired and

rehabbed the existing 12-unit building for housing youth aging out of foster care), including testifying in

favor of the project before City Council. We contacted Council leaders early in our planning process for

this second phase, and they indicated continued support for the additional 12 units. Although COVID

presents a challenge in some of our traditional engagement techniques, we will continue to update the

Council and hope to attend a virtual meeting this winter. We also plan to host a virtual ‘open house’, to

which we invite all neighbors living in the immediate vicinity of the project.

We have worked even more closely with abutting neighbors of the property, particularly the two single

family homes that border the driveway to the project. That driveway exists via an easement on land that

belongs to one of those homes, and shares a fence with the other. Because these properties are the most

closely connected to our project, we have been in regular communication with the owners for over a year

now and they have supplied city staff with a letter of support endorsing the proposed development.


SITE/PARCEL CHARACTERISTICS Site Control

12. Has site control been established? Yes NoIf the project is an acquisition, please ensure the project followed the Option Agreement guidance inthe Reference Section.

13. Expiration date of option or conditional contract: N/A

14. What is the form of site control? Deed (developer owned site) Conditional Contract Purchase Option Lease Lease Option City owned site Other:

15. If the project involves acquisition, did you submit the Informational Notice to the Owner/Seller prior tosubmitting the option or conditional contract? Yes No N/A

16. Are there any anticipated changes to the project’s legal description? If yes, please describe.

There are no anticipated changes to the project’s legal description.

17. What is the square footage of the proposed project parcel? 0.54 Acres

18. Is the proposed project site subject to any existing encumbrances Yes No such as a restrictive covenant, use restriction, or regulatory agreement?

a. If so, how do you plan to mitigate the encumbrance? Quit-Claim Deed Subdivision of the Property Other:

Zoning 19. What is the current zoning of the project site? R-2

20. For new construction proposals: has your project had a Project Consultation (Eugene) or DevelopmentIssues Meeting (DIM) (Springfield)? Yes No N/A

21. Is the proposed project consistent with the zoning status of the site? Yes No Please provide documentation that the projects meets local zoning and land use laws.


a. If current zoning is not consistent, please explain: N/A b. Please outline the steps that will be taken to address zoning issues and include the time frame

needed to resolve these issues: N/A

c. Do you anticipate applying for any Adjustment Reviews (e.g. multi-family development standards, access connections, etc.) through the land use application process? Please outline the adjustments that would potentially be requested, if known.

DevNW has already requested (and was approved for) an adjustment to the width of access. 22. Is the proposed project consistent/compatible with surrounding uses? Yes No

If yes, please describe.

There is another building on the same property that is currently occupied by youth aging out of the foster

care system, which is the same population that the proposed building will serve. Additionally, there is a

market-rate multifamily building directly to the north of the property. The surrounding area is a mixture

of low and medium density residential dwellings.

23. Do you plan to charge for residential parking separately from rent? Yes No Existing Structures 24. Does the site contain existing structures? Yes No

a. If yes, how many? 1 (one) 25. What is to be done with on-site existing structures? Demolish

Rehab Nothing (does not apply/not part of this project)

26. Please provide the following information for any on-site structures to be retained as part of this project: Approx. Total Sq. Footage N/A Number of Building(s) N/A Date Built N/A Number of Stories N/A 27. Please give a brief description of the condition of the buildings to be rehabilitated: N/A Environmental 28. Are there known adverse environmental conditions on the site? (These may include high level of noise,

wetland, floodplain, leaking underground storage tank, above ground storage of toxic materials within sight, etc.) Yes No


If yes, what are they and please describe how they can be mitigated though reasonable measures?

Historical Elements 29. Are any on-site structures subject to historical preservation requirements? Yes No

a. Governing body/code: National Historic Register State Department of Archaeology and Historic Preservation Other:

b. Briefly state how you plan to comply with applicable historic preservation requirements:

The proposed project will not impact any historic properties.

Other Federal Regulations

30. For projects requesting $100,000 or more, what will you do to assure that employment and/or jobtraining opportunities for low-income individuals are provided in the development of your project, perHUD Section 3 requirements?

31. For projects requesting $10,000 or more, what steps will you take to hire businesses that are registered

with the State of Oregon as Minority Business Enterprises (MBE) or Women’s Business Enterprises

(WBE) firms?

DevNW will identify and compile a list of all local registered MWESB businesses, and will factor the

inclusion of these business (or others that may not be registered yet) into the decision-making process

when selecting a general contractor. Furthermore, we will work to conduct community outreach and

education regarding the MWESB registration process to ensure that local MWESB organizations are

DevNW has over 60 years of experience in community economic development, and is committed to continuing to diversify our already robust development bench to ensure that minority-owned, women-owned, and emerging small businesses across Oregon are fairly represented and utilized whenever possible during our design and build process. As our geographical footprint continues to grow in Oregon, we add additional businesses to our bench each quarter. DevNW uses resources such as Business Oregon’s COBID database and HUD’s Section 3 Business Directory to identify new potential partners. Furthermore, we leverage existing relationships to seek out individuals, families, and business’ that do not have the same access to employment/contract opportunities as those with higher incomes levels. While cost considerations are always a factor in our decision-making, we believe that there is tremendous value in having a diverse development team and we work to find creative ways to offset the cost-differential whenever possible. Recognizing the opportunity to provide our residents with practical and resume-building experience, our Real Estate Development team offers internship opportunities that supports skills development and training through participation in the design and build process of a project. This comes in the form of working directly with a DevNW team member, or by working with one of our partners.


aware of the opportunity. Lastly, the DevNW Asset Management Team commits to also seeking out

registered MWSEB organizations whenever possible for ongoing maintenance, property management, and

compliance.

Attachments

Preliminary drawings and site plan

Documentation of Site Control (Not applicable to River Road site)

Informational Notice to Seller (for acquisition projects)

Documentation that proposed Project meets Zoning and Land Use laws

Title Report (if available)

Photos of the site, buildings, and interiors of units (if existing units)

Section 2

Narrative Question: Project Narrative

Attachment 2: Preliminary Site Plan and Drawings

Attachment 3: Documentation of Site Control (Deed)

Attachment 4: Zoning Verification

Attachment 5: Adjustment Approval

Project Narrative 1. Please provide a brief narrative summary of the proposed project. Please include: location

in the community, project type (new construction vs. acquisition-rehab), and proposedaffordability period. Describe target population and income level that would be served.Describe the market need/housing demand in the city and the neighborhood in which theproject is proposed. Please describe any unique project characteristics. Also explain why anallocation of HOME funds is crucial to the successful implementation of your project and itsaffordability level(s).

Polk 2.0 will include the development of 12 newly constructed (SROs/1beds) units for youth

aging out of the foster care system. The proposed project is an expansion of an existing site

owned and operated by DevNW that currently provides housing to youth aging out of foster

care. In addition to providing housing, the new site will also include a managers’ unit as well

as a community garden, recreation room, laundry, and kitchen. The site itself is located in the

Whitaker Neighborhood of Eugene - an ideal location for this population given that it is a

diverse mixed-dwelling community within walking distance of downtown, public transit,

schools, healthcare, social service agencies, parks, and other vital amenities. For a variety of

reasons, youth aging out of foster care are at much higher risk of homelessness, substance

abuse, unemployment, and a variety of other psychosocial challenges. Despite a steady uptick

in the numbers of youth exiting the foster care system, public funding for this population has

not been prioritized. DevNW has managed to secure $500,000 from Lane County, but will

require Eugene HOME funds to kick-start development.

Attachment 2:

Attachment 3:

Attachment 4:

Attachment 5:


SECTION 3 NEED & POPULATIONS SERVED

Population Narrative 1. Describe the target population to be served. Is the target population identified as a priority need

population in the Consolidated Plan?

Target Population Income

Please indicate the targeted household income levels for the proposed development as a percentage of area median income (AMI):

0-30% AMI # of Units

31-50% AMI # of Units

51-80% AMI # of Units 12 (all units for those who are at or below 60% AMI)

Special Needs 2. Will this project serve Special Needs populations? Yes No

3. Special Needs Populations to be served (Check all that apply). Homeless Families with children Seniors Ex-offenders People with HIV/AIDS Victims of Domestic Violence People with Drug and Alcohol Addictions People who are Evicted/Foreclosed People with Physical Disabilities People with Mental Disabilities Veterans Youth Young adults aging out of foster care

Other Special Needs (please explain)

No Special Needs, General Low-Income Renters

4. Is your organization working with a referral service entity on this project? Yes No

5. State the name of the referral entity: N/A

6. If a working arrangement with a referral service entity has not been established, briefly state why not.

DevNW will not be working with a referral service entity on this project. Instead, we will be creating a new

position that will be an expansion of the existing on-site manager’s role. The position will be responsible

PG 45-46


for supporting property management, assisting with resident services, supporting conflict resolution, and

conducting onsite passive and active programming.

Services

7. Will this project provide services? (e.g. Child Care, Case Management, Yes NoTransportation) If yes, please describe further in the Services portion of this Application (Section 10)

8. Describe services promoting self-sufficiency and independent living. Include in this discussion anycounseling, job training, or other education, both on site and off site, which will be made available toresidents of your project.

Our Asset Building department hosts a variety of financial literacy courses and educational programs

aimed at building one’s credit and basic financial skills. Furthermore, DevNW has another line of

business aimed at creating happy, healthy, thriving communities. This department employs individuals,

such as Youth Health Navigators, who provide invaluable information and direction for community

members searching for everything from food supplies to employment. These service components will be

available to all of our residents living at Polk 2.0.

9. Describe how residents will be encouraged to participate in decision making processes.

Community engagement and communication transparency are essential to developing safe and successful

communities. Standard operating procedure at DevNW requires that we effectively communicate all major

decisions to residents, and integrate their input whenever possible. One of the primary purposes of the on-

site manager will be to serve as a conduit between DevNW and the residents to ensure that residents are

engaged in the decision-making process and that their voices are heard. This can be achieved in a variety

of ways, including but not limited to holding regular complex meetings, creating resident leadership

opportunities, designing programming with resident feedback and participation, developing newsletters

and other communications materials to engage residents, etc.

Community Priorities

10. Does this project meet the objectives of any of the local, state or federal plans listed below?(check all that apply)

Consolidated Plan Housing Dispersal Policy Envision Eugene Plan Springfield 2030 Comprehensive Plan Area Plans (Land Use and/or Strategic Neighborhood Assessment & Planning Work Plan)

Other:

11. Please list the ways in which your project will meet the plan(s) checked. If none of the plans apply,describe how your project will fulfill a perceived need for affordable housing in the community. Bespecific.

While the Consolidated Plan is the only plan that explicitly lists “Youth aging out of foster care” as a high

needs population under the housing plan, there is a tremendous need for more affordable housing

throughout Eugene and particularly for this vulnerable population. This project will bring an additional


12 units online for transitional youth in an environment where there is only one other multifamily

complex of its kind in Lane County, and it is owned and operated by DevNW. At present, emergency

shelters for unaccompanied youth in Lane county can only meet 11% of its demand. By even adding an

additional 12 SRO’s to the housing stock, we are doubling the supply while simultaneously creating a

vehicle which can support at-risk youth and transition them to independent living. We hope that through

projects like these, more people will be dedicated to this cause in Eugene.

Section 3

Narrative Question: Population Narrative

Population Narrative 1. Describe the target population to be served. Is the target population identified as a priority

need population in the Consolidated Plan?

DevNW proposes to provide former foster youth (ages 18-25) in Lane County with stable

housing through the expansion of our Polk Street Apartments, a complex dedicated to this

population.

Youth aging out of foster care and LGBTQ former foster youth face multiple, often

overlapping, barriers to housing, education, and employment. They are also at greater risk of

short and long-term homelessness, as well as the risks associated with homelessness including

substance abuse, victimization, survival sex (defined as exchanging sex to meet basic needs),

early and unplanned parenthood, and criminal justice system involvement. These risks are

exacerbated by the disconnect between youth and adult services with the “aging out” of youth

services proving debilitating for many young adults.

According to HUD, up to 50% of youth exiting foster care "couch surf, double up,

move frequently within a short period of time, have trouble paying rent, and face

eviction,” all of which can compromise overall health and wellbeing, leading to

instability in employment, education, and accessing available social services. Lacking

stable housing, these youth often have little to no income and no family resources on

which to fall back for support.

Many youth exiting foster care do not obtain a high school diploma or GED, are less

likely to attend and/or complete college than their peers, and lack knowledge necessary

to fill out a job application or skills required to maintain employment once secured.

Youth aging out of foster care lack both the financial and social capital to obtain stable

and decent housing. They age out of the system with inadequate assets to afford

security deposits and inadequate familial or adult relationships to obtain a cosigner

when they have insufficient credit history and/or rental deposit funds to secure

housing.

Fewer than 20% of former foster youth attend college (compared to 60% of youth in

the general population), and fewer still obtain a college degree.

Aging out of the foster system is a major contributor of youth into the homeless

pipeline with 12-36% of emancipated youth reporting episodes of homelessness after

discharge from DHS care.

In Oregon, nearly 300 youth exit the foster system unsupported each year. Data from Oregon

Child Welfare indicates that every quarter between 60-84 youth exit foster care as a result of

turning 18. In the 2018 calendar year, 286 youth aged out of foster care. In 2019, the number

of youth leaving foster care due to age was 216. The challenges experienced by these youth are

multiple, and include among others the inability to procure and maintain stable housing, lack

of capital resources and supportive human relationships, and the lack of skills, job training,

and/or education needed to secure living-wage employment. The problems facing LGBTQI

former foster youth and youth of color are intertwined with those of their peers with additional

obstacles often related to discrimination and targeted abuse.

In Lane County, a disproportionately large number of youth are experiencing homelessness

with 482 school-engaged youth reported as unaccompanied during the 2018-2019 academic

year. For instance, the County’s 2019 Point-in-Time (PIT) count identified 145

unaccompanied youth with 21 in emergency shelter, 16 in transitional housing, and 108

unsheltered. Of these youth, 119 were ages 18-24 and 26 were under age 18. Lane County’s

current youth-specific emergency shelter capacity is only able to meet 11% of the demand for

its unaccompanied youth population, which includes former foster youth. And, this is only

within shelters. Only 12 beds currently serve child-only households, which represents less than

1% of the unaccompanied homeless youth population in need (page 123 of the Eugene-

Springfield 2020 Consolidated Plan).

Despite limited data on youth aging out of foster care, the Eugene-Springfield 2020

Consolidated Plan (The Plan) specifically identifies this population as a priority need for

additional support as it relates to affordable housing, human services, and employment

opportunities within the “non-homeless special needs population” (pages 15 and 16 of the

executive summary). Indeed, DevNW’s existing property which will be expanded with HOME

funding, is the only facility dedicated to serving former foster care youth in Lane County. The

Plan also identifies “people experiencing homelessness” as a priority population, citing

specifically that “there are no youth-specific resources for transition-age youth (ages 18-24).”

Additionally, low and very low-income “renters” are also identified as a priority population for

increased access to quality affordable rental housing as well as rental assistance. As low and

very low-income renters, youth aging out of foster care, also fall within this “renter”

population. Although limited data exists on transition age youth generally, The Plan indicates

there are significant numbers and unique housing and service needs to warrant identification

(pg. 8 of the exec summary). Comprising three priority populations: non-homeless special

needs; people experiencing homeless; and renters, youth aging out of foster care fit within

several of the Plan’s strategies, namely: to increase the supply of affordable housing; provide

rental assistance for housing stability and homelessness prevention; and to remove barriers to

affordable and supportive housing.


SECTION 4 RELOCATION

1. Does this project involve the acquisition, demolition, or rehabilitation of Yes No any existing occupied structures? (If no, skip to Section 5)

2. If acquisition, have you included provisions in the Option Agreement that enable Yes No you to obtain tenantincome and rent information, and to give notices to existingand incoming tenants prior to closing?Please use the Relocation Forms in the Reference Section.

3. Have you collected information on all current occupants of the property, including Yes No both residential and commercial tenants, and occupants with or without leases?

4. Was anyone made to move within the 90 days prior to the execution of the Yes No Option Agreement/Conditional Contract?

Type of Relocation 5. Enter the number of tenant households to be relocated:

Residential: Permanently Temporarily None

Commercial: Permanently Temporarily None

6. Explain the income verification process and the strategy for addressing any current residents who arenot eligible to remain in the building.

7. What requirements or guidelines govern your relocation plan? (check all applicable)

Uniform Relocation Act Section104 [d] Other (please specify):

8. Have you identified replacement or temporary units for those who will Yes No be displaced?

9. Have you calculated tenants’ relocation benefits in preparation of a relocation Yes No budget?


Relocation Notices

10. Have you provided General Information Notices to all occupants using the Yes No sample notices in HUD’s Handbook 1378 on relocation (including both residentialand commercial tenants, and occupants with or without leases)?

11. Have you collected tenant Income Self-Certifications from all occupants so that Yes No subsequent notices can be provided to tenants immediately upon entering into anAgreement for HOME funding? (i.e., Notice of Eligibility or Notice of Non-Displacement)

12. Is the applicant or property owner prepared to issue move-in notices to all new Yes No tenants that sign leases subsequent to this funding application?

13. Is the applicant or property owner prepared to issue Intent to Vacate forms to Yes No all tenants who move from the property subsequent to this funding application?

Please complete the following Excel form in Attachment D and place in this section: ► Form 4, Relocation Budget

Attachments Tenant Relocation Plan – describe how the plan minimizes displacement. It should

identify staff that will carry out relocation activities, provide an estimated timeline for all relocation activities, including the issuing of notices. The plan should also explain the rationale for any estimated costs in the relocation budget.

General Information Notices issued to all current occupants

Self-certifications of Income for current occupants

Tenant Rosters (current and last 30 days)

Drafts of Move-in Notices

Drafts of Intent to Vacate Notices


SECTION 5 PROJECT SCHEDULE

Project Schedule Narrative 1. Please provide a narrative description to accompany the Form 5 project schedule in your

proforma. Please be specific about how the timelines were determined for obtaining commitments forleveraged project financing, forming legal ownership entities, real estate closing, temporary andpermanent relocation, construction commencement, construction completion, lease-up, etc. Describethe plan for securing all financing, and the plan to complete acquisition within 12 months.

Please complete the following Excel form in Attachment D and place in this section: ► Form 5, Project Schedule

PG 51

Section 5

Narrative Question: Project Schedule Narrative

Form 5: Proect Schedule

Project Schedule Narrative

1. Please provide a narrative description to accompany the Form 5 project schedule in yourproforma. Please be specific about how the timelines were determined for obtainingcommitments for leveraged project financing, forming legal ownership entities, real estateclosing, temporary and permanent relocation, construction commencement, constructioncompletion, lease-up, etc. Describe the plan for securing all financing, and the plan tocomplete acquisition within 12 months.

DevNW has owned the property at 89 N. Polk St. since 2015 and has always had plans to build

an additional building on site. After securing $550,000 in Lane County Housing Improvement

Program (HIP) funds in 2019 and working through various land use approvals, DevNW is

prepared to start construction in January of 2022. Within 3-6 months of a HOME award,

DevNW will discuss financing terms with our lending partners for the remainder of project

costs. Construction would commence in Q1 of 2022. No short term relocation of current

residents will be needed as the construction of the new building will not interfere with their

current living arrangements. Construction will take approximately 12 months to complete. By

early 2023, the Whiteaker neighborhood will have an additional 12 Single Room Occupancy

(SRO) units along with a manager apartment, common kitchen, laundry, and a community

garden. We anticipate a lease up period of around 6 months.

Organization Name: DevNW


Instructions:

Category TasksDate Completed

or Expected Completion

Status

Site Control Option Agreement/Conditional contract 2015 (e.g., Executed March 20, 2015)

Site Control Maximum Extensions 2015 (e.g., Must Waive Financing Contingency 12/31/14)

Site Control Closing 2015 (e.g., Must Close on August 15, 2015)

Feasibility/Due Diligence Site survey 2015 (e.g., Completed on schedule)

Feasibility/Due Diligence Market study 2015 Completed

Feasibility/Due Diligence Phase I Environmental Assessment 2015 Completed

Feasibility/Due Diligence Phase 2 Environmental Assessment 2015 Completed

Feasibility/Due Diligence Capital needs assessment 2015 Completed

Feasibility/Due Diligence Neighborhood notification 2015 Completed

Feasibility/Due Diligence Relocation of existing tenants N/A No Relocation Needed

Financing Award date for funding (HIP Grant from LaneCounty)

May. 2019 Committed

Design/Permitting Preliminary drawings completed Sep. 2020 Completed

Construction Solicit bids Sep. 2020 Completed

Construction Selection of general contractor Oct. 2020 Completed

Financing Construction cost estimate Oct. 2020 Completed; Received bid from Meili

Financing Application for funding (Eugene HOME & SDC Exemption):

Oct. 2020 Applying

Financing Award date for funding source (Eugene HOME & SDC Exemption):

Feb. 2021 Expect Award

Financing Appraisal Feb. 2021 Order Appraisal after HOME Award

Financing Lender selection Mar. 2021Start to shop lenders for both Construction loan and Perm loan

Financing Project Fundraising Mar. 2021 Fundraising Start

Financing Project Fundraising Aug.2021 Construciton Loan Secured; Obtain Letter of Interest

Financing Project Fundraising Oct. 2021 Perm Loan Secured; Obtain Letter of Interest

Financing Project Fundraising Nov. 2021 Completed $500,000

Design/Permitting Site plan approval Nov. 2021 Pending Land Use Process

Design/Permitting Building permit application submitted Nov. 2021

Design/Permitting Final Plans and Specs Completed Dec. 2021

Design/Permitting Building permits issued Jan. 2022

Construction Begin construction Jan. 2022

Construction Issued certificate of occupancy Jan. 2023

Occupancy Begin lease-up Jan. 2023 Lease Up Complete by July 31 2023

Occupancy Selection of management entity N/A Management in House

Occupancy Selection of service providers N/A Management in House

Occupancy Placed in service Jul. 2023

• Provide "Date Completed" and "Status" information for the following project tasks at a minimum.

• If a task does not apply to your project, enter N/A. To add additional tasks, insert additional lines as needed.

• Submit this form in chronological order. Use the sort function to reorder the form by the "Date Completed” column.

• For each new task you enter in this column, also enter the appropriate category in the first column.

Form 5: Project Schedule


SECTION 6 DEVELOPMENT BUDGET

Development Budget Narrative 1. Please provide a thorough narrative description regarding the development budget (specifically related

to the Sources and Uses of Funds tabs in the pro forma). Please provide justifications of all costs andassumptions. Describe any choices the development team has made related to long-term affordabilityand cost savings. Please include an estimated $25,000 for City Project Delivery Costs in your budget.

2. If your project includes construction, is your project subject to federal Yes No Davis-Bacon wage requirements?

a. If no, explain why your project is exempt.

We are requesting funds for 11 ‘HOME’ units, which is under the 12-unit threshold for Davis-

Bacon prevailing wage.

b. If yes, are current Davis-Bacon wage rates reflected in your application? Yes No

Please complete the following Excel form in Attachment D and place in this section: ► Form 6, Proforma (includes several tabs)

PG 55

Section 6:

Narrative Question: Development Budget Narrative

Project Pro Forma: Separate Attachment

Development Budget Narrative

1. Please provide a thorough narrative description regarding the development budget (specificallyrelated to the Sources and Uses of Funds tabs in the pro forma). Please provide justifications of allcosts and assumptions. Describe any choices the development team has made related to long-termaffordability and cost savings. Please include an estimated $25,000 for City Project Delivery Costs inyour budget.

Budget Amount ($) Justifications

Acquisition Costs $0 DevNW owns the land

Construction Costs $1,535,617 Received a construction bid from Meili Construction based on the current site plan

Development Costs $122,451

$26,382 SDC estimate from EWEB

$46,069 for Builders Risk (3% of Meili’sbid)

$50,000 for building permits and otherfees (environmental, surveys, etc.)

General Fees $197,000

$125,000 for Architectural and Engineering

$35,000 for Legal Services

$25,000 for City HOME Fee

$12,000 for an Appraisal

Financing Costs $99,900

$77,900 for Construction Loan FinancingCosts (loan fees, title reports, andinspections)

$14,000 for Permanent Loan Financing Costs

$8,000 for taxes

Contingency $143,817 8% of hard costs and 5% of soft costs

Interest $10,529 Construction loan interest

Developer Fee $350,000 Developer Fee must be less than 14% of thetotal project costs

Project Reserves $50,000 Reserved for future operating costsTotal: $2,509,314

Project Name Date

Project Type-- Acq/RehabX New Construction total %-- Rehab 2,810 48.2%-- Preservation 2,240 38.4%

780 13.4%5,050 86.6%

12 5,830 --

Overall Costs

Total Costs Cost / Res Sq Ft% of Total

Costs$2,509,314 $496.89 -

$0 $0.00 0.0%$1,535,617 $304.08 61.2%$973,697 $192.81 38.8%

Development & Construction Cost / Unit Typetot sq ft tot units2,810 12 $209,109

0 0 -0 0 -0 0 -0 0 -0 0 -

2,240 $187$2,509,314

$497

Construction CostsTotal Costs Cost / Res Sq Ft$1,535,617 $304.08

$0 $0.00$0 $0.00$0 $0.00$0 $0.00$0 $0.00

Development CostsTotal Costs % Construction

$75,000 5%Total Costs Cost / Unit$143,817 $11,985

$0$0

Builder General ConditionsBuilder Overhead

Builder ProfitConstruction Contingency

Dev & Const cost/unit

Development & Construction CostsDev & Const Cost / Res Sq Ft:

Common Areas:

5 bedroom

0 bedroom1 bedroom2 bedroom3 bedroom4 bedroom

$0

% of Development17.3%

Architect's Fee

Development Contingency

Cost / Unit$209,109

$0$127,968$81,141

Total Builder GC/O/P

$0$0

Cost / Unit

ConstructionDevelopment

Total Acquisition

$6,250

Total Construction Costs minus GC/O/P $127,968

Cost / Unit

Total Res Sq FtTotal

figures* based on: (A) Original Application*specified in row 5 "pro forma type":

Number of Units

Project Square FeetResidential

Common SpaceCommercial

Project Summary

Polk 2.0 10/28/2020

select X for each applicable Pro Forma Type: (A) Original Application

Summary 10/28/2020

Project Name DatePolk 2.0 10/28/2020

Total Cost / Unit$350,000 $29,167

$0 $0

$87,500 $7,292

$350,000 $29,167$0 $0

$350,000 $29,167

Total $ / Unit$84,898 $7,075

$0

Total / UnitPercent of EGI w

OAHTC$2,490 0.0%

$0 0.0%$150 0.0%

$2,340 0.0%

$250 0.0%$0 0.0%

$250 0.0%

$300 0.0%$450 0.0%

Total $ / Unit$55,018 $4,585

$0

Total1.02

-

1.02-

Total $ / Unit$1,293 $108#REF! $0

$1,293 $108#REF! $0

Net Op Exp/Unit

On Site Mgmt Fee / Unit 0.3%

0.5%

Percent of EGI

Total Cash Flow without OAHTC 1.5%

Debt Coverage Ratio:

Total DCR without OAHTCTotal DCR with OAHTC

Total Cash Flow with OAHTC 0.0%

Primary Cash Flow with OAHTC1.5%0.0%

Cash Flow:

----

0.0%0.3%

Percent of EGI64.8%0.0%

Primary Cash Flow without OAHTC

Net Operating Income:

Primary DCR without OAHTCPrimary DCR with OAHTC

Net Operating Income without OAHTCNet Operating Income with OAHTC

Replacement Reserve

Percent of EGI

Maintenance & Repairs / Unit 0.4%

0.0%0.2%2.8%

Percent of EGI w/o OAHTC

2.9%

Operating Income & Expense:

EGI without OAHTCEGI with OAHTC

Income:

Off Site Mgmt Fee / UnitTotal Mgmt Fee / Unit

Less resident services / Unit

Expenses:Total Op Expenses / UnitLess Property Tax / Unit

Consultant FeeMinimum Required non-profit share of

Developer Fee (If Applicable)Total Developer Fee

Total Deferred FeeTotal Cash Developer Fee

0%

4%

17%0%

17%

% of Total17%Developer Fee

Summary 10/28/2020

Project Name: Date: 10/28/2020

Funding SourceHOME Match

(select)

Initial Application Carryover Final

Application Status

Anticipated or Firm

Commitment Date

Commercial

Anticipated or Firm

Commitment Date

LIHTC EquityHOME

$0 $0 $0 $0

Tax Exempt BondsHOME

$0 $0 $0 $0

HIP Grant from Lane County $550,000 Committed 5/1/2019SDC Exemptions $26,382 Tentative 2/28/2021

$576,382 $0 $0 $0

Permanent Loan (write bank name) $678,393 Tentative 2/28/2021City of Eugene HOME $754,539 Tentative 2/28/2021

$1,432,932 $0 $0 $0

CashDeferred Development FeeDevNW Equity & Fundraising $500,000 Tentative 2/28/2021

$500,000 $0 $0 $0

Cash flow During RehabEWEB Incentives

$0 $0 $0 $0 TOTAL FUND SOURCES $2,509,314 $0 $0 $0

$0

(loan amount from OAHTC worksheet)(enter loan amount)(loan amount)

Oregon Affordable Housing Tax Credit (OAHTC)Construction bridge loanPredevelopment Loan

Other OHCS non-equity sources:

OTHER: (list additional as applicable)

Total Other Funds

(original) Surplus or Gap

APPLICANT CONTRIBUTIONS (list additional as applicable)

Total Applicant Contribution

(Note: Total Fund Sources must match "Total Project Cost" from

Uses of Funding page.)

Polk 2.0

NON-OHCS LOANS (list as applicable)

Total NON-OHCS Grants

OHCS LOANS

Total OHCS Loans

NON-OHCS GRANTS (list)

Total NON-OHCS Loans

SOURCES OF FUNDING

RESIDENTIAL COMMERCIAL

OHCS GRANTS & EQUITY

Total OHCS Grants & Equity

Sources 10/28/2020

--12 As Selected on Summary Page

Total2,810 $2,509,3142,240 $209,109780 $497

5,050 -5,830

Commercial

(A) Original

Application Cost per

Unit

(B) Carryover

Application % Diff (B/A)

Cost per Unit

(C) Final

Application% Diff (C/B)

Cost per Unit Funding Source

Total Estimated Eligible Basis

Estimated Gross Expended by

Carryover Date

Purchase Price: $0 $0 $0 Land $0 - - - - - n/a Improvements $0 - - - - -Liens and Other Taxes $0 - - - - -Closing/Recording $0 - - - - -Extension Fees $0 - - - - -Other (list below):

$0 - - - - -$0 - - - - -$0 - - - - -

Acquisition Costs Subtotal: $0 $0 $0 - $0 - - $0 - - -- $0 $0

Off-site Work $0 - - - - -On-site Work $0 - - - - -Hazardous Materials Abatement $0 - - - - -Demolition $0 - - - - -Residential Building $0 - - - - -Commercial Space/Building $0 - - - - - n/aCommon Use Facilities $0 - - - - -FF&E (Common Area Furnishings) $0 - - - - -Internet Wiring & Equipment $0 - - - - -Landscaping $0 - - - - -Elevator $0 - - - - -Laundry Facilities $0 - - - - -Storage/Garages $0 - - - - -Builder's Risk Insurance $0 - - - - -Performance Bond $0 - - - - -3rd Party Const. Management $0 - - - - -Contingency $0 - - - - -General Conditions $0 - - - - -Contractor Overhead $0 - - - - -Contractor Profit $0 - - - - -Other (list below): Meili ConstructionBid $1,535,617 $1,535,617 $127,968 -100.0% - - - Loan/HOME

$0 - - - - -$0 - - - - -

Construction Costs Subtotal: $1,535,617 $0 $1,535,617 $127,968 $0 -100.0% - $0 - - -- $0 $0

Acquisition Costs

Construction Costs

Residential Common Areas:

Date: Pro Forma Type: 10/28/2020 (A) Original Application

Residential Unit Square Footage:

Project Name:Acq/Rehab

Total / Summary Costs Based on: (A) Original ApplicationResidential Summary:

Polk 2.0

IRS Set-asideNumber of Units:

COSTS:

These two columns are for

LIHTC APPLICANTS ONLY

Cost / Res Sq Ft% of Total Costs

Commercial/other $00.0%

Total Square Footage:Total Residential Square Footage:

Total Costs(comm & res;

based on pro forma type selection on summary page)

RESIDENTIALCOMMERCIAL (where applicable)

USES OF FUNDS

$30461.2%

$973,697$81,141

$19338.8%

Acquisition Construction DevelopmentTotal CostsCost / Unit

$1,535,617$127,968

$0$0

Uses of Funds 10/28/2020

Date: Pro Forma Type: 10/28/2020 (A) Original ApplicationProject Name: Polk 2.0USES OF FUNDS

Land Use Approvals $0 - - - - -Building Permits/Fees $30,000 $30,000 $2,500 -100.0% - - -System Development Charges $26,382 $26,382 $2,199 -100.0% - - -Market Study $0 - - - - -Environmental Report $5,000 $5,000 $417 -100.0% - - -Lead Based Paint Report $0 - - - - -Asbestos Report $0 - - - - -Soils Report (Geotechnical) $5,000 $5,000 $417 -100.0% - - -Survey $10,000 $10,000 $833 -100.0% - - -Capital Needs Assessment $0 - - - - -Marketing/Advertising $0 - - - - - n/aInsurance $0 - - - - -OHCS Fees $0 - - - - -OHCS Const. Inspection $0 - - - - -OHCS Constr. Analyst $0 - - - - -Other (list below): Builders Risk $46,069 $46,069 $3,839 -100.0% - - -

$0 - - - - -$0 - - - - -

Architectural $75,000 $75,000 $6,250 -100.0% - - -SPD Architectural Review Fee $0 - - - - -Engineering $50,000 $50,000 $4,167 -100.0% - - -Legal/Accounting $35,000 $35,000 $2,917 -100.0% - - -Cost Certification $0 - - - - -Appraisals $12,000 $12,000 $1,000 -100.0% - - -Special Inspections/Testing $0 - - - - -Developer Fee $350,000 $350,000 $29,167 -100.0% - - -Consultant Fee $0 - - - - -Rate Lock Fee $0 - - - - -Other (list below): City HOME Fee $25,000 $25,000 $2,083 -100.0% - - -

$0 - - - - -$0 - - - - -

Lender Inspection Fees $5,400 $5,400 $450 -100.0% - - -Lender Title Insurance $20,000 $20,000 $1,667 -100.0% - - -Lender Legal Fees $20,000 $20,000 $1,667 -100.0% - - -Loan Fees $27,500 $27,500 $2,292 -100.0% - - -Loan Closing Fees $5,000 $5,000 $417 -100.0% - - -Property Taxes (Constr Period) $8,000 $8,000 $667 -100.0% - - -Insurance $0 - - - - -

Development Costs

Construction Loan Costs/Fees

General Fees



Bridge Loan Legal $0 - - - - -Bridge Loan Trustee $0 - - - - -Bridge Loan Underwriting $0 - - - - -

Perm. Loan Fee $6,500 $6,500 $542 -100.0% - - - n/aPerm. Loan Closing Fees $7,500 $7,500 $625 -100.0% - - - n/a

Tax Credit Fee $0 - - - - -Tax Credit Syndication Fee $0 - - - - - n/aTax Credit Cost Certification $0 - - - - -Tax Credit Legal/Advisor Fee $0 - - - - - n/a

Cost of Bond Issuance $0 - - - - - n/aNegative Arbitrage (1.50%) $0 - - - - - n/aBond Cost Certification $0 - - - - - n/aOther (list below):

$0 - - - - - n/a

Construction Period $2,995 $2,995 $250 -100.0% - - -Construction Bridge Loan $7,534 $7,534 $628 -100.0% - - - n/aOther (list below):

$0 - - - - -$0 - - - - -

Development Contingency $143,817 $143,817 $11,985 -100.0% - - -Contingency Escrow Account (3%) $0 - - - - - n/a

Lease Up $0 - - - - - n/aTenant Relocation $0 - - - - -

Operating Reserve $50,000 $50,000 $4,167 -100.0% - - - n/aDeposit to Replacement Reserves $0 - - - - - n/aOther (list below):

$0 - - - - -$0 - - - - -$0 - - - - -$0 - - - - -

Development Costs Subtotal: $973,697 $0 $973,697 $81,141 $0 -100.0% - $0 - - -- $0 $0

TOTAL PROJECT COST $2,509,314 $0 $2,509,314 $209,109 $0 -100.0% - $0 - - -- $0 $0

Surplus or Gap (original) $0Surplus or Gap (carry over) $0Surplus or Gap (final) $2,509,314

0%

Permanent Loan Fees

Bridge Loan Fees

Reserves/Cash Accounts

Development Contingency

Interest

Bond Issuance Fees

Tax Credit Fees

Lease Up / Tenant Relocation

(equals) the Percent of estimated cost expended by Carryover Date(divided by) Total Residential Project Costs

Total of the amount to be expended by Carryover Date



(A) Original

Application

(B) Carryover

Application

(C) Final

ApplicationDeveloper Fee Percent 16.6% - -

Project Development Percentage 38.8% - -Development Contingency 17.3% - -Construction Contingency 0.0% - -

Contractor Profit, Overhead & GC 0.0%Construction less Contractor P&O&GC $1,535,617 $0 $0

$2,109,313.6 $0.0 $0.0 Project costs net of developer fee, reserves and cash accounts

OHCS policy; Development costs can be no more than 30% of total project costs.

OHCS policy; Construction contingency can be no more than 5% for NC, 10% for Rehab.OHCS policy maximum, Contractor Profit (8%), Overhead (2%) and General Conditions (6%). Combined can be no more than 14% of construction

OHCS policy; Total developer fee must be no more than 15% of total Project costs net of developer fee, reserves and cash accounts.

Preference is to be no more than a maximum of 5%


2.00%

Unit Size

Unit Type (BDR /MGR)

# of Baths

Square Feet / Unit

Median Income

%

Gross Monthly Program Rent Per

Unit

Tenant Paid

Utility Allow

Net Monthly Rent Per

Unit# of

Units

1 2 3 4 5 10 15 20 30

0 BDR 1.0 230 $773 - $146 = 627 X 12 11 = $82,764 $84,419 $86,108 $87,830 $89,586 $98,911 $109,205 $120,572 $146,9760 BDR 1.0 280 $773 - $146 = 627 X 12 1 = $7,524 $7,674 $7,828 $7,985 $8,144 $8,992 $9,928 $10,961 $13,361

- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0- = 0 X 12 = $0 $0 $0 $0 $0 $0 $0 $0 $0

12 = $90,288 $92,094 $93,936 $95,814 $97,731 $107,903 $119,133 $131,533 $160,337

$0 $0 $0 $0 $0 $0 $0 $0

$0 $0 $0 $0 $0 $0 $0 $0

$1,000 $1,020 $1,040 $1,061 $1,082 $1,195 $1,319 $1,457 $1,776$0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0

$1,000 $1,020 $1,040 $1,061 $1,082 $1,195 $1,319 $1,457 $1,776

$91,288 $93,114 $94,976 $96,876 $98,813 $109,098 $120,453 $132,989 $162,113

7.0% ($6,390) ($6,518) ($6,648) ($6,781) ($6,917) ($7,637) ($8,432) ($9,309) ($11,348)

$84,898 $86,596 $88,328 $90,094 $91,896 $101,461 $112,021 $123,680 $150,765

pick from drop down Income Inflation Rate:Actual Multifamily Tax Subsidy Incomes

HOUSING OPERATING BUDGET - INCOME

County: LANE

(A) Original Application

if you change this income inflation rate from it's default (2%) you must support it in your narrative

10/28/2020 Pro Forma Type:

Total Residential Square Feet2,810

Laundry

Date: Project Name: Polk 2.0

SUB-TOTALS

Service Revenue:

Total Annual Income

yearsselect from drop down

Other:

Site-based rental assistance:Site-based rental assistance:

Rents based on: pick from drop down

select vacancy rate from drop down; if you change from it's default (7%) you must support it in your narrative

Gross Income:

Less Vacancy Rate

Garage/Parking

Effective Gross Income:

Cable TV

SUB-TOTAL OTHER REVENUE

Interest IncomeApplication FeesInternet Access FeesOther:

Deposits on Turnover

Other Revenue:

Income 10/28/2020

Date:

3.00%

Annual per Unit 1 2 3 4 5 10 15 20 30$245 $2,940 $3,028 $3,119 $3,213 $3,309 $3,836 $4,447 $5,155 $6,928

$0 -$ $0 $0 $0 $0 $0 $0 $0 $0$350 4,200$ $4,326 $4,456 $4,589 $4,727 $5,480 $6,353 $7,365 $9,898$200 2,400$ $2,472 $2,546 $2,623 $2,701 $3,131 $3,630 $4,208 $5,656$150 1,800$ $1,854 $1,910 $1,967 $2,026 $2,349 $2,723 $3,156 $4,242$0 -$ $0 $0 $0 $0 $0 $0 $0 $0

$300 3,600$ $3,708 $3,819 $3,934 $4,052 $4,697 $5,445 $6,313 $8,484$150 1,800$ $1,854 $1,910 $1,967 $2,026 $2,349 $2,723 $3,156 $4,242$450 5,400$ $5,562 $5,729 $5,901 $6,078 $7,046 $8,168 $9,469 $12,725

$250 $3,000 $3,090 $3,183 $3,278 $3,377 $3,914 $4,538 $5,261 $7,070$0 $0 $0 $0 $0 $0 $0 $0 $0

$150 $1,800 $1,854 $1,910 $1,967 $2,026 $2,349 $2,723 $3,156 $4,242$0 $0 $0 $0 $0 $0 $0 $0 $0 $0$25 $300 $309 $318 $328 $338 $391 $454 $526 $707$50 $600 $618 $637 $656 $675 $783 $908 $1,052 $1,414$0 $0 $0 $0 $0 $0 $0 $0 $0 $0$95 $1,140 $1,174 $1,209 $1,246 $1,283 $1,487 $1,724 $1,999 $2,686$0 $0 $0 $0 $0 $0 $0 $0 $0 $0$75 $900 $927 $955 $983 $1,013 $1,174 $1,361 $1,578 $2,121$0 $0 $0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0 $0 $0

$0 $0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0 $0

$2,490 $29,880 $30,776 $31,700 $32,651 $33,630 $38,987 $45,196 $52,395 $70,414Total Annual Operating Expenses:

if you change this expense inflation rate from it's default (3%) you must support it in your narrativeEnter annual expense for ALL units below

Other: (list below)

Unit Turnover Taxes(non-real estate)Real Estate Taxes

Professional Services:Resident ServicesCase Management

Payroll TaxesInternet Connection Fee

Legal AccountingCompliance Monitoring Fees

Office & AdministrationAdvertising/Marketing & Promotion

Landscape MaintenanceReplacement ReserveProperty Management:

On-site Contracted (Off-Site)


Expense Inflation Rate:Pro Forma Type:

Gas/Oil Electric Water & SewerGarbage RemovalCable TV

Repairs & Maintenance

10/28/2020(A) Original Application

Annual Operating Expenses

Insurance Utilities:(common areas)

HOUSING OPERATING BUDGET - EXPENSES

Expenses 10/28/2020

Date:

3.00%

Annual per Unit 1 2 3 4 5 10 15 20 30







RateAmortization

(Years) Loan Amount5.00% 20 $678,393 $4,477 $53,725 $53,725 $53,725 $53,725 $53,725 $53,725 $53,725 $53,725 $0

RateAmortization

(Years) Loan Amount#REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!

RateAmortization

(Years)

Loan Amount (minus OAHTC

portion)#REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!

RateAmortization

(Years) Loan Amount$0 $0 $0 $0 $0 $0 $0 $0 $0 $0

RateAmortization

(Years) Loan Amount$0 $0 $0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0 $0 $0$0 $0 $0 $0 $0 $0 $0 $0 $0 $0

OAHTC loan scenario

Deferred Developer Fee

OAHTC Permanent loan

Other Loans / Deferred Fee

Portion of perm loan w/o OAHTC (if applicable)

Less Debt Service:

Permanent loan (no OAHTC)

Other Loans (HOME Loan, Partnership Loans) & Cash flow Loans

Expenses 10/28/2020

Date:

3.00%

Annual per Unit 1 2 3 4 5 10 15 20 30







Annual per Unit 1 2 3 4 5 10 15 20 30

$7,075 $84,898 $86,596 $88,328 $90,094 $91,896 $101,461 $112,021 $123,680 $150,765$2,490 $29,880 $30,776 $31,700 $32,651 $33,630 $38,987 $45,196 $52,395 $70,414$4,585 $55,018 $55,819 $56,628 $57,444 $58,266 $62,474 $66,825 $71,285 $80,351$4,477 $53,725 $53,725 $53,725 $53,725 $53,725 $53,725 $53,725 $53,725 $0$4,477 $53,725 $53,725 $53,725 $53,725 $53,725 $53,725 $53,725 $53,725 $0$108 $1,293 $2,094 $2,903 $3,718 $4,541 $8,749 $13,100 $17,560 $80,351$108 $1,293 $2,094 $2,903 $3,718 $4,541 $8,749 $13,100 $17,560 $80,3511.02 1.02 1.04 1.05 1.07 1.08 1.16 1.24 1.33 -1.02 1.02 1.04 1.05 1.07 1.08 1.16 1.24 1.33 -

Annual per Unit 1 2 3 4 5 10 15 20

- #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!$2,490 $29,880 $30,776 $31,700 $32,651 $33,630 $38,987 $45,196 $52,395

- #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!$0 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!$0 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!- #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!- #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!- - - - - - - - -- - - - - - - - -

Primary Debt Service

WITHOUT OAHTC

Effective Gross Income: Total Annual Operating Expenses: Net Operating Income:

Cash Flow Per Year Total: Primary Debt Coverage Ratio: Total Debt Coverage Ratio:

Effective Gross Income: Total Annual Operating Expenses: Net Operating Income: Primary Debt Service Total Debt Service: Cash Flow Per Year Primary:

Total Debt Service Cash Flow Per Year Primary: Cash Flow Per Year Total: Primary Debt Coverage Ratio Total Debt Coverage Ratio

WITH OAHTC

Expenses 10/28/2020

Project Name Polk 2.0 Date 10/27/2020

Construction Phase

After Construction /

Home Sale

Final Sources &

Uses

DevNW Equity & Fundraising 500,000 500,000 HIP Grant from Lane County 550,000 550,000 HOME 754,539 754,539 SDC Exemptions 26,382 26,382 Construction Loan 270,903 6,265 277,169 Construction Loan Payback (277,169) (277,169) Perm Loan 678,439 678,439

Total Sources 2,101,824 407,536 2,509,360

Acquisition Costs - - 0Construction Costs 1,535,617 - 1,535,617Contruction Loan Interest 3,040 7,536 10,576Development Costs 122,451 - 122,451General Fees 197,000 - 197,000Financing Costs 99,900 - 99,900Contingency 143,817 - 143,817Developer Fee - 350,000 350,000Project Reserves/Other - 50,000 50,000

Total Uses 2,101,824 407,536 2,509,360 0 0 0Sources less Uses (Gap)

Summary Sources & Uses

Sources

Uses

Project Pro Forma


Function 1st Floor 2nd FloorSRO's Units Area Subtotal Units Area Subtotal Total

Typical 5 230 1,150 6 230 1,380 2,530Adaptable 1 280 280 280 Total Units

Subtotal SRO's Sq Ft 6 1,430 6 1,380 2,810 12SRO's Amenties

SRO's Lobby 150 260 410Laundry 100 100Kitchen 100 100

Accessory 480 480 960Subtotal Amenties' Sq Ft 830 740 1,570Community

Common Lobby 60 60Common Room 470 470

Other 140 140 Residential Com. AreasSubtotal Community Sq Ft 670 0 670 2,240

Manager's Apartment 780 780Total Square Footage 2,930 2,900 5,830

Project Pro Forma

Assumption / Shared

CostsNew

Construction

New Construction -

Cost / Unit12

Acquisition CostsLand Acquisition 0.0

Sub Total 0 0Construction Costs

Meili's Construction Bid 1,535,617 127,968.1Sub Total 1,535,617 127,968

Development CostsLand Use Approvals 0.0Building Permits/Fees 30,000 2,500.0System Development Charges 26,382 2,198.5Market Study 0.0Environmental Report 5,000 416.7Lead Based Paint Report 0.0Asbestos Report 0.0Soils Report (Geotechnical) 5,000 416.7Survey 10,000 833.3Capital Needs Assessment 0.0Marketing/Advertising 0.0OHCS Fees 0.0OHCS Const. Inspection 0.0OHCS Constr. Analyst 0.0Construction Insurance - Builders Risk 3% 46,069 3,839.0

Sub Total 122,451 10,204General Fees

Architectural 75,000 6,250.0SPD Architectural Review Fee 0.0Engineering 50,000 4,166.7Legal/Accounting 35,000 2,916.7Cost Certification 0.0Appraisals 12,000 1,000.0Special Inspections/Testing 0.0Consultant Fee 0.0Rate Lock Fee 0.0City HOME Fee 25,000 2,083.3Other 0.0Other 0.0

Sub Total 197,000 16,417Financing Costs

Lender Inspection Fees 5,400 450.0Lender Title Insurance 20,000 1,666.7Lender Legal Fees 20,000 1,666.7Loan Fees 27,500 2,291.7Loan Closing Fees 5,000 416.7Property Taxes (Constr Period) 8,000 666.7Perm. Loan Fee 6,500 541.7

Budget

Project Pro Forma

Perm. Loan Closing Fees 7,500 625.0Sub Total 99,900 8,325

ContingencyHard Costs Contingency 8% 122,849 10,237.4Soft Costs Contingency 5% 20,968 1,747.3

Sub Total 143,817 11,985Interests/Developer Fee

Interests during Construction Period 3,040 253.3Interests during lease up 7,536 628.0Developer Fee 350,000 29,166.7

Sub Total 360,576 30,048Project Reserves/Other

Operating Reserves 50,000 4,166.7Deposit to Replacement Reserves 0.0Supportive Services Reserve 0.0

Sub Total 50,000 4,167Total Development Cost 2,509,360 209,113

Project Pro Forma


Construction Phase Sources and Uses

Financial Closing As Of

Construction Start

Month 0 1 2 3 4 5 6Date 31-Jan-22 28-Feb-22 31-Mar-22 30-Apr-22 31-May-22 30-Jun-22 31-Jul-22

Construction Loan Interrest Accrual 5.50% 0 0 0 0 0 0Construction Loan Note Balance Outstanding 0 0 0 0 0 0

Cash Remaining Balance 194,502 0 0 0 0Project Cash Sources IR

Construction Draws From Construction Loan Note 270,903 5.50% 0 0 0 0 0 0DevNW Equity & Fundraising 500,000 500,000HIP Grant from Lane County 550,000 84,561 355,843 109,596HOME 754,539 148,087 211,615 165,546 134,834SDC Exemptions 26,382 26,382

Perm. LoanTotal Sources 2,101,824 526,382 279,062 355,843 257,683 211,615 165,546 134,834

Project Cash UsesAcquisition Costs 0Construction Costs 1,535,617 230,343 307,123 245,699 199,630 153,562 122,849Contruction Loan Interest 3,040 0 0 0 0 0 0Development Costs 122,451 48,980 36,735 36,735General Fees 197,000 197,000Financing Costs 99,900 85,900Contingency 143,817 11,985 11,985 11,985 11,985 11,985 11,985Developer FeeProject Reserves/Other

Subtotal: 331,880 279,062 355,843 257,683 211,615 165,546 134,834

Cash Balance 194,502 0 0 0 0Construction Loan Payback

Total Uses 2,101,824 526,382 279,062 355,843 257,683 211,615 165,546 134,834Excess/Shortfall - - - - - - - -

Construction ScheduleNew Construction - Estimated Construction Spend % 15% 20% 16% 13% 10% 8%

Project Pro Forma

Construction Completion

Lease Up Complete

Permanent Sources and

Uses7 8 9 10 11 12 13 14 15 16 17 18

31-Aug-22 30-Sep-22 31-Oct-22 30-Nov-22 31-Dec-22 31-Jan-23 28-Feb-23 31-Mar-23 30-Apr-23 31-May-23 30-Jun-23 31-Jul-230 44 451 649 848 1,047 1,242 1,247 1,253 1,259 1,265 1,270

9,666 98,476 141,624 184,970 228,515 270,903 272,145 273,392 274,645 275,904 277,169

9,666 88,810 43,148 43,346 43,545 42,388 1,242 1,247 1,253 1,259 1,265 0 277,169500,000550,000

94,456 754,53926,382

678,439 678,439104,122 88,810 43,148 43,346 43,545 42,388 1,242 1,247 1,253 1,259 1,265 678,439 2,509,360

092,137 76,781 30,712 30,712 30,712 15,356 0 0 0 0 0 0 1,535,617

0 44 451 649 848 1,047 1,242 1,247 1,253 1,259 1,265 1,270 10,576122,451197,000

14,000 99,90011,985 11,985 11,985 11,985 11,985 11,985 143,817

350,000 350,00050,000 50,000

104,122 88,810 43,148 43,346 43,545 42,388 1,242 1,247 1,253 1,259 1,265 401,270 2,509,360

277,169 277,169104,122 88,810 43,148 43,346 43,545 42,388 1,242 1,247 1,253 1,259 1,265 678,439 2,509,360

- - - - - - - - - - - - -

6% 5% 2% 2% 2% 1% 100%

Project Pro Forma


Number of Units 12 Total OAHTC Residential Sq FtIncome Inflation Rate: 2.00%County Lane

Annual Operating Incomes Year 2024 2025 2026 2027 2028 2033 2038 2043 2053

Unit Size Unit Type # of Baths Square Foot# of

UnitsMedian

Income % Program

Gross Monthly Rent per

Unit

Tenant Paid Utility

Allowance

Net Monthly

Rent

1 2 3 4 5 10 15 20 30

SRO BDR 1.0 230 11 60% HOME $773 - $146 = $627 82,764$ 84,419$ 86,108$ 87,830$ 89,586$ 98,911$ 109,205$ 120,572$ 146,976$ SRO BDR 1.0 280 1 60% N/A $773 - $146 = $627 7,524$ 7,674$ 7,828$ 7,985$ 8,144$ 8,992$ 9,928$ 10,961$ 13,361$

- =- =- =- =

Sub-Totals: 7,524$ 90,288$ 92,094$ 93,936$ 95,814$ 97,731$ 107,903$ 119,133$ 131,533$ 160,337$

Year 1 2 3 4 5 10 15 20 30Site Based Rental Assistance:

Site Based Rental Assistance: -$ -$ -$ -$ -$ -$ -$ -$ -$ Service Revenue:

Service Revenue: -$ -$ -$ -$ -$ -$ -$ -$ -$ Other Revenue:

Laundry 1,000$ 1,020$ 1,040$ 1,061$ 1,082$ 1,195$ 1,319$ 1,457$ 1,776$ Garage/Parking -$ -$ -$ -$ -$ -$ -$ -$ -$ Deposits on Turnover -$ -$ -$ -$ -$ -$ -$ -$ -$ Cable TV -$ -$ -$ -$ -$ -$ -$ -$ -$ Interest Income -$ -$ -$ -$ -$ -$ -$ -$ -$ Application Fees -$ -$ -$ -$ -$ -$ -$ -$ -$ Internet Access Fees -$ -$ -$ -$ -$ -$ -$ -$ -$ Other -$ -$ -$ -$ -$ -$ -$ -$

Sub-total Other Revenue 1,000$ $1,020 $1,040 $1,061 $1,082 $1,195 $1,319 $1,457 $1,776

Gross Income: 91,288$ 93,114$ 94,976$ 96,876$ 98,813$ 109,098$ 120,453$ 132,989$ 162,113$

Less: Vacancy Rate 7.00% ($6,390) ($6,518) ($6,648) ($6,781) ($6,917) ($7,637) ($8,432) ($9,309) ($11,348)

Effective Gross Income: 84,898$ 86,596$ 88,328$ 90,094$ 91,896$ 101,461$ 112,021$ 123,680$ 150,765$

Project Pro Forma


Number of Units 12 Expenses Inflation Rate: 3.00%

Annual Operating ExpensesAnnual Exp.

per Unit1 2 3 4 5 10 15 20 30

Insurance 245$ 2,940$ 3,028$ 3,119$ 3,213$ 3,309$ 3,836$ 4,447$ 5,155$ 6,928$ Utilities: (common areas)

Gas/Oil -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Electric 350$ 4,200$ 4,326$ 4,456$ 4,589$ 4,727$ 5,480$ 6,353$ 7,365$ 9,898$ Water & Sewer 200$ 2,400$ 2,472$ 2,546$ 2,623$ 2,701$ 3,131$ 3,630$ 4,208$ 5,656$ Garbage Removal 150$ 1,800$ 1,854$ 1,910$ 1,967$ 2,026$ 2,349$ 2,723$ 3,156$ 4,242$ Cable TV -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Repairs & Maintenance 300$ 3,600$ 3,708$ 3,819$ 3,934$ 4,052$ 4,697$ 5,445$ 6,313$ 8,484$ Landscape Maintenance 150$ 1,800$ 1,854$ 1,910$ 1,967$ 2,026$ 2,349$ 2,723$ 3,156$ 4,242$ Replacement Reserve 450$ 5,400$ 5,562$ 5,729$ 5,901$ 6,078$ 7,046$ 8,168$ 9,469$ 12,725$ Property Management:

On-site 250$ 3,000$ 3,090$ 3,183$ 3,278$ 3,377$ 3,914$ 4,538$ 5,261$ 7,070$ Contracted (Off-Site) -$ -$ -$ -$ -$ -$ -$ -$ -$

Porfessional Services:Resident Services 150$ 1,800$ 1,854$ 1,910$ 1,967$ 2,026$ 2,349$ 2,723$ 3,156$ 4,242$ Case Management -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Legal 25$ 300$ 309$ 318$ 328$ 338$ 391$ 454$ 526$ 707$ Accounting 50$ 600$ 618$ 637$ 656$ 675$ 783$ 908$ 1,052$ 1,414$ Compliance Monitoring Fees -$ -$ -$ -$ -$ -$ -$ -$ -$

Office & Administration 95$ 1,140$ 1,174$ 1,209$ 1,246$ 1,283$ 1,487$ 1,724$ 1,999$ 2,686$ Advertising/Marketing & Promotion -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Unit Turnover 75$ 900$ 927$ 955$ 983$ 1,013$ 1,174$ 1,361$ 1,578$ 2,121$ Taxes (non-real estate) -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Real Estate Taxes -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Payroll Taxes -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Internet Connection Fee/Phone Lines -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Other: (list below)

OAHTC Fee -$ -$ -$ -$ -$ -$ -$ -$ -$ Investor Services Fee -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Operating Expenses: 2,490$ 29,880$ 30,776$ 31,700$ 32,651$ 33,630$ 38,987$ 45,196$ 52,395$ 70,414$ % Opt. Exp over Income 35% 35% 36% 36% 36% 37% 38% 40% 42%

With OAHTC Per Unit /YrEffective Gross Income: 7,075$ 84,898$ 86,596$ 88,328$ 90,094$ 91,896$ 101,461$ 112,021$ 123,680$ Total Annual Operating Expenses: 2,490$ 29,880$ 30,776$ 31,700$ 32,651$ 33,630$ 38,987$ 45,196$ 52,395$ Net Operating Income: 4,585$ 55,018$ 55,819$ 56,628$ 57,444$ 58,266$ 62,474$ 66,825$ 71,285$

Total Debt Service: 4,477$ $53,729 $53,729 $53,729 $53,729 $53,729 $53,729 $53,729 $53,729Cash Flow Per Year Total: 107$ 1,289$ 2,091$ 2,899$ 3,715$ 4,537$ 8,745$ 13,096$ 17,557$

Total Debt Coverage Ratio: 1.02 1.02 1.04 1.05 1.07 1.08 1.16 1.24 1.33

Less Debt Service:

Permanent Loan

Rate Loan AmountAmoritization

(Years)5.00% $678,439 20 $4,477 $53,729 $53,729 $53,729 $53,729 $53,729 $53,729 $53,729 $53,729

Project Pro Forma


Lease Up Period Lease Up CompleteMonthly ProForma After Construction Complete 28-Feb-23 31-Mar-23 30-Apr-23 31-May-23 30-Jun-23 31-Jul-23 31-Aug-23 30-Sep-23 31-Oct-23 30-Nov-23 31-Dec-23 2023

Month Numberrs >>> 13 14 15 16 17 18 19 20 21 22 23 TotalRent Growth

Physical Vacancy - New Construction 75.00% 50.00% 25.00% 15.00% 7.00% 0.00%Economic Vacancy - New Construction 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00%

REVENUE Gross Possible Residential Income 7,524 7,524 7,524 7,524 7,524 7,524 7,524 7,524 7,524 7,524 7,524 82,764

Physical Vacancy (5,643) (3,762) (1,881) (1,129) (527) 0 (12,941) Economic Vacancy 0 0 0 0 (527) (527) (527) (527) (527) (527) (3,160)

Effective Gross Income 1,881 3,762 5,643 6,395 6,997 6,997 6,997 6,997 6,997 6,997 6,997 66,663

EXPENSESOperating Expenses 679 1,358 2,037 2,309 2,526 2,716 2,716 2,716 2,716 2,716 2,716 29,880

Expenses Subtotal 679 1,358 2,037 2,309 2,526 2,716 2,716 2,716 2,716 2,716 2,716 29,880

Net Operating Income 1,202 2,404 3,606 4,086 4,471 4,281 4,281 4,281 4,281 4,281 4,281 36,783

Perm Loan Annual Payment 4,477 4,477 4,477 4,477 4,477 22,387

Net Cash Flow 1,202 2,404 3,606 4,086 4,471 4,281 (196) (196) (196) (196) (196) 14,396

Project Pro Forma


Annual Proforma Operating Statement 2023 2024 2025 2026 2027 2028 2029 2030 2031Year Numberrs >>> 0 1 2 3 4 5 6 7 8

Effective Gross Income 2.00% 66,663 84,898 86,596 88,328 90,094 91,896 93,734 95,609 97,521

Operating Expenses 3.00% 29,880 29,880 30,776 31,700 32,651 33,630 34,639 35,678 36,749

Net Operating Income 36,783 55,018 55,819 56,628 57,444 58,266 59,095 59,930 60,772

Perm Loan Annual Payment 5.00% 22,387 53,729 53,729 53,729 53,729 53,729 53,729 53,729 53,729

Net Cash Flow 14,396 1,289 2,091 2,899 3,715 4,537 5,366 6,202 7,044PV 6.00% 14,396 1,216 1,861 2,434 2,942 3,390 3,783 4,124 4,419

NPV 507,643

Project Pro Forma

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 20439 10 11 12 13 14 15 16 17 18 19 20

TV99,471 101,461 103,490 105,560 107,671 109,824 112,021 114,261 116,547 118,877 121,255 123,680 3,153,843$

37,851 38,987 40,156 41,361 42,602 43,880 45,196 46,552 47,949 49,387 50,869 52,395 1,798,887$

61,620 62,474 63,334 64,199 65,069 65,945 66,825 67,709 68,598 69,490 70,386 71,285 1,354,956

53,729 53,729 53,729 53,729 53,729 53,729 53,729 53,729 53,729 53,729 53,729 31,342

7,891 8,745 9,605 10,470 11,340 12,216 13,096 13,980 14,869 15,762 16,658 39,944 1,354,9564,671 4,883 5,060 5,203 5,317 5,403 5,464 5,503 5,522 5,522 5,506 12,455 398,568

Project Pro Forma

Location Green Discount Unit Type DateZIP 97402 - Eugene, OR None Larger Apartment Building (5+ units) 10/19/2020

Utility/Service0 BR 1 BR 2 BR 3 BR 4 BR 5 BR

Space Heating Natural Gas n/a n/a n/a n/a n/a n/aBottle Gas n/a n/a n/a n/a n/a n/aElectric Resistance $13 $16 $21 $26 $31 $36Electric Heat Pump $32 $34 $37 $39 $41 $43Fuel Oil n/a n/a n/a n/a n/a n/a

Cooking Natural Gas n/a n/a n/a n/a n/a n/aBottle Gas n/a n/a n/a n/a n/a n/aElectric $4 $4 $6 $8 $10 $12Other n/a n/a n/a n/a n/a n/a

Other Electric $14 $17 $23 $30 $36 $43Air Conditioning $1 $1 $1 $2 $2 $3Water Heating Natural Gas n/a n/a n/a n/a n/a n/a

Bottle Gas n/a n/a n/a n/a n/a n/aElectric $9 $11 $14 $17 $20 $23Fuel Oil n/a n/a n/a n/a n/a n/a

Water $40 $43 $62 $91 $121 $150Sewer $48 $52 $78 $117 $156 $195Trash Collection $25 n/a n/a n/a n/a n/aRange/Microwave $11 n/a n/a n/a n/a n/aRefrigerator $12 n/a n/a n/a n/a n/aOther – specify $10 n/a n/a n/a n/a n/a

Number of bedrooms0 – Studio

Projected Utility AllowancesUtility/Service Type of Utility Cost/MonthSpace Heating Electric Heat Pump $32Cooking Electric $4Other Electric Electric $14Air Conditioning Electric $1Water Heating Electric $9Water Tenant pays $40Sewer Tenant pays $48Trash Collection Tenant pays $25Range/Microwave Tenant pays $11Refrigerator Tenant pays $12Other Tenant pays $10Total Utility Allowances $206

Total Tenant Pays $146

Monthly Dollar Allowances [State Average]

Project Pro Forma


SECTION 7 PROJECT FINANCING

Unique Financing Circumstances 1. Please describe any unique financing details or structures as they pertain to this project. Discuss the

timing of obtaining other funding commitments prior to receiving a HOME award.

Funding Timeline:

In March, 2015, NEDCO (DevNW) received Property Tax Exemption for 89 N. Polk St.

DevNW received a $550,000 Housing Improvement Program Grant from Lane County in April

2019.

DevNW is seeking a $754,539 HOME fund and a $26,382 SDC Exemption through this

application.

DevNW plans to bring in $500,000 equity through fundraising by the end of 2021.

DevNW plans to contact lenders and have a Construction Loan committed to the project by

summer 2021

DevNW plans to contact lenders and have a Perm Loan committed to the project by the end of 2021

2. HOME funds requested: $0.00

3. Other resources (at least 25% of total development costs must be non-federal leverage): $0.00

4. Total Project cost: $0.00

5. Do you plan to apply for the City of Eugene or City of Springfield Low Income Yes No Rental Housing Property Tax Exemption (LIRHPTE)?

6. Do you plan to apply for a City of Eugene CDBG Rehabilitation Loan? Yes No

If yes, how much will you request?

7. Do you plan to apply for a City of Springfield CDBG Rehabilitation Loan? Yes No

If yes, how much will you request?

8. Do you plan to use City of Eugene Systems Development Charge Waivers? Yes No If yes, did you obtain an estimate of the SDC calculation from the Permit and Information Center (PIC)? Yes No

How much is your request (if known)? $26,382

9. Please describe the non-federal HOME Match that will be permanently contributed to the Project(please refer to the HOME Match guidance in the Reference Section.)

DevNW has secured $550,000 in funding from the Lane County HIP grant. We propose using 30,000 for

predevelopment and the remaining $520,000 will be used for the development of our proposed building at


various phases. With a TDC of around $1,535,000, our Lane County HIP grant already contributes over

35%.

Attachments Funding commitment letters

Description of status of investor negotiations

Copy of the Systems Development Charge Estimate (if the project will seek an SDC Exemption.)

Section 7

Attachment 6: Property Tax Exemption Agreement

Attachment 7: Lane County Housing Improvement

Program (HIP) Grant Contract

Attachment 8: SDC Estimate

Attachment 6:

Attachment 7:

From: Chris Bigelow

To: Adam Dallimore; Jeannine Parisi

Subject: RE: 89 N. Polk SDC Question

Date: Monday, October 26, 2020 11:45:17 AM

Adam,

The SDC for a 1.5” metered service is $11,382.00. The installation charge for a 1.5” service at this

location will be around $15,000.00 I will not be doing a full estimate until the service is ordered.

Let me know if you have any questions.

Chris Bigelow

Water Engineering Tech III

EWEB

(541)685-7353 – Office

(541)606-9880 - Cell

From: Adam Dallimore <[email protected]>

Sent: Monday, October 26, 2020 10:52 AM

To: Chris Bigelow <[email protected]>; Jeannine Parisi <[email protected]>

Subject: RE: 89 N. Polk SDC Question

Caution: This email originated from outside of the organization

Morning!

Any update on this front? Just want to check in before we submit the application.

Best,

— Adam Dallimore DevNW // Development Associate

»Where to find us

O 541.345.7106 x2071

Please be cautious This email was sent outside of your organization

Attachment 8:







http://www.devnw.org/

http://www.devnw.org/about/contact-us


SECTION 8 PROJECT OPERATIONS

Operations Narrative

1. Please provide a narrative description of the long term operations (specifically related to the Incomeand Expenses tabs in your proforma). Please justify all costs and assumptions. Describe how theprojected revenue was determined. Please describe why the rents were selected and why they areappropriate to the long term viability of the project.

2. Projects can no longer use Utility Allowances from the Public Housing Authority (Homes for Good).They must be calculated using a particular methodology. Project specific methodology is based onactual utility usage at the property or project-specific factors such as size, orientation, buildingmaterials, mechanical systems, construction quality and local climate conditions. The acceptablemethods include but are not limited to: the HUD Utility Schedule Model, Multi-family Housing UtilityAnalysis, Utility Company Estimate, LIHTC Agency Estimate, and Energy Consumption Model/EngineerModel. Developers must submit their Utility Allowance calculation to the Consortium annually forapproval prior to entering into leases. More information is below. Please describe the method you usedto calculate UAs and submit the documentation of your calculation.https://www.hudexchange.info/news/hud-utility-schedule-model-calculating-utility-allowances-for-

home-webcast/

Attachment Documentation of utility allowance calculation.

PG 79

https://www.hudexchange.info/news/hud-utility-schedule-model-calculating-utility-allowances-for-home-webcast/

https://www.hudexchange.info/news/hud-utility-schedule-model-calculating-utility-allowances-for-home-webcast/

Section 8

Narrative Question: Operations Narrative

Attachment 9: Utility Allowance Calculation

Operations Narrative

1. Please provide a narrative description of the long term operations (specifically related to the Incomeand Expenses tabs in your proforma). Please justify all costs and assumptions. Describe how theprojected revenue was determined. Please describe why the rents were selected and why they areappropriate to the long term viability of the project.

DevNW determined the rent level from the HOME RFP, which lists a maximum rent of 773.

This amount is able to cover carrying and operating costs. This amount also secures the long

term viability of the project. Furthermore, all of the expense figures in the pro forma were

informed by the existing building at 89 N. Polk St. The utilities, specifically, were determined

by using the standard HUD Utility form.

Location Green Discount Unit Type DateZIP 97402 - Eugene, OR None Larger Apartment Building (5+ units) 10/19/2020

Utility/Service0 BR 1 BR 2 BR 3 BR 4 BR 5 BR

Space Heating Natural Gas n/a n/a n/a n/a n/a n/aBottle Gas n/a n/a n/a n/a n/a n/aElectric Resistance $13 $16 $21 $26 $31 $36Electric Heat Pump $32 $34 $37 $39 $41 $43Fuel Oil n/a n/a n/a n/a n/a n/a

Cooking Natural Gas n/a n/a n/a n/a n/a n/aBottle Gas n/a n/a n/a n/a n/a n/aElectric $4 $4 $6 $8 $10 $12Other n/a n/a n/a n/a n/a n/a

Other Electric $14 $17 $23 $30 $36 $43Air Conditioning $1 $1 $1 $2 $2 $3Water Heating Natural Gas n/a n/a n/a n/a n/a n/a

Bottle Gas n/a n/a n/a n/a n/a n/aElectric $9 $11 $14 $17 $20 $23Fuel Oil n/a n/a n/a n/a n/a n/a

Water $40 $43 $62 $91 $121 $150Sewer $48 $52 $78 $117 $156 $195Trash Collection $25 n/a n/a n/a n/a n/aRange/Microwave $11 n/a n/a n/a n/a n/aRefrigerator $12 n/a n/a n/a n/a n/aOther – specify $10 n/a n/a n/a n/a n/a

Number of bedrooms0 – Studio

Projected Utility AllowancesUtility/Service Type of Utility Cost/MonthSpace Heating Electric Heat Pump $32Cooking Electric $4Other Electric Electric $14Air Conditioning Electric $1Water Heating Electric $9Water Tenant pays $40Sewer Tenant pays $48Trash Collection Tenant pays $25Range/Microwave Tenant pays $11Refrigerator Tenant pays $12Other Tenant pays $10Total Utility Allowances $206

Total Tenant Pays $146

Monthly Dollar Allowances [State Average]

Attachment 9


SECTION 9 PROJECT TEAM

Personnel 1. List the names of key members of the organization’s development team, their titles and their years of

experience in affordable housing below.

Name Title

(e.g., executive director, project manager.) Years Experience in Affordable Housing

Erin Dey Real Estate Development Director 10 Skylar Yang Real Estate Development Associate 2 Adam Dallimore Real Estate Development Associate 2

Organizational History 2. Has the organization developed affordable housing projects previously? Yes No

3. Please describe the organization’s experience with this type of housing development.

DevNW currently has 443 units of affordable rental housing across 36 different properties in its

portfolio, and has 141 units across 5 sites in its development pipeline. DevNW’s holding assets currently

include multi-family rental housing, single-family-rental housing, and community land trust sites.

Historically, DevNW has also owned, developed, and operated commercial properties and mixed-use

sites.

In 2015, DevNW opened Polk Apartments, the first complex dedicated to youth aging out of foster care

in Oregon. Polk Apartments remains the only complex dedicated to the long-term housing of this

population in Lane County. For the last 5 years, DevNW has successfully owned and operated this site,

providing both safe and stable housing to these individuals as well as enhanced connectivity to a variety

of other psychosocial supports. In addition to the work DevNW has done at Polk Apartments, our Asset

Building team and youth navigators outside of Lane County are also actively involved in rapid re-

housing work with this population as well. While rapid re-housing is not directly related to

development, we as an organization have become intimately engaged in resolving the unique needs and

challenges of housing this population both in the short and long term.

4. Has the organization done similar projects to that for which you are seeking funds for through thisapplication:

a. Number of similar projects completed: 0 Projects

b. Please describe the similar projects completed: N/A


c. Please describe current projects underway and their status. How will you manage additionalprojects?

DevNW recently sold 6 Community Land Trust (CLT) homes in Cottage Grove and has an additional 12

units under construction in Florence. Furthermore, we are currently pending land-use approval for 40

units in West Eugene on Royal Ave. (31 CLT homes and 9 townhomes). We are also pending land use

approvals for 11 CLT homes in South Corvallis and a 19-unit affordable rental housing redevelopment

project in Salem. Over the next several years, the real estate team will be increasing staff capacity respective to the growth of its pipeline. In 2021, two additional positions have been proposed in real estate development and one new position in asset management.

5. Number Units Placed in Service: 0 Units

6. When did the organization last have an audit or a comprehensive review of its financial statements?(Please submit recent financial statements.)

a. Were there any findings or concerns about financials? Yes No b. If Yes, please describe the findings or concerns about financials.

c. Have these findings or identified concerns been resolved? Yes No N/A

d. If not, what is your plan for resolution?N/A

7. Is the Sponsor organization currently engaged in any project workouts? Yes No

a. If yes, please list any projects in workout, and provide a brief summary of the reason for theworkout status.

Project Name Reason for Workout

1.

2.

3.

Ownership Entity 8. What is the legal status of the Ownership Entity for the project?

Currently Exists To Be Formed prior to receiving a HOME award. Estimated formation date

9. Ownership Entity Information

Name: Corvallis Neighborhood Housing Services

Address: 212 Main St.

City: Springfield State: OR Zip Code: 97477

Phone: 541-345-7106 x2071 E-mail: [email protected]


Fax: N/A Federal Identification Number: 93-1057296

10. Individuals/Organizations that Comprise the Ownership Entity (if known at time of application):

Name Address Phone Entity Type Federal ID # % Ownership

11. Is the relationship between the ownership entity and organization expected to Yes No change over time?

a. How will the relationship change?

12. Did the ownership entity approve the plan to apply for and borrow HOME funds Yes No for the purpose of the proposed project? (Please submit the borrowingresolution or other documentation.)

Property Management 13. Briefly summarize the management plan for this project. Be sure to address facility maintenance, on-

site management, and services provided:

The DevNW management plan that will be followed at Polk 2.0 sets forth general policies and procedures

to ensure a high standard of housing for residents. DevNW will have the following objectives for

management of Polk 2.0:

The Project will be managed by the DevNW Asset Management team, and will be properly

maintained to provide safe and sanitary living conditions for its residents.

The Project will be a financially stable enterprise that successfully operates within its budget so

that all expenses, debt service, and reserve payments are covered by operating income.

The Project will be managed in accordance with Regulatory Agreements, and in compliance with

all local, state and federal laws.

The Project will be a catalyst for positive relationships among the residents, management staff and

area neighbors with open channels of communication.

14. Explain your marketing strategy and the tenant selection process, including the establishment andmanagement of the waiting list.

DevNW maintains a wait list for Polk Apartment applications. Vacant units are filled first from the wait

list if possible. If there are no qualified applicants (or ready to move applicants) from the wait list,


information on the vacant unit is sent to Looking Glass and Department of Human Services first; then

other service agencies such as McKinney-Vento, St. Vincent de Paul, Imagination House, Options

Counseling, etc. If our Property Management staff receives no response or a qualified applicant from any

of the agencies, they will turn to alternative means such as Craigslist. Tenants are selected on a first come

first serve basis with the unit being offered to the first qualified applicant(s). This wait list is maintained

on our server and hard copies in a locked file cabinet.

15. Describe your organization’s experience with income verification including information collected,required documentation, and third party verifications.

Applicants are required to complete a Tenant/Applicant Questionnaire and provide third part income

verifications when being considered for a unit. The applicant is provided with a HUD HOME

Employment Verification form or Self Declaration form with back up documentation and/or other HOME

verification forms as they pertain to that Applicants income sources.

16. Discuss the management agency‘s ability to efficiently maintain additional properties and assets.

DevNW has an Asset Management Department and performs long term physical oversite of the entire

holding asset portfolio.

17. Will management be provided on site? Yes No a. If yes, form of management:

Resident Manager(s) - Number of units: 1 (one) Management office (Business Hours Only) Management office (24 hr) Other, Describe:

b. If no, describe your service area and how this project fits within your organization’s capacity.

N/A

18. List the names of key property management staff, their titles and their years of experience in affordablehousing.

Name Title (e.g., project manager, intake staff)

Years Experience in Affordable Housing

Jodi Erickson Asset Manager 15 Dannette Gwin Property Manager & Assistant Asset

Manager 15

Fair Housing and Cultural Competency

19. Explain how your organization and property management staff stay educated about fair housing issues?


Property Management staff at DevNW are required to attend regular fair housing trainings as offered by

Oregon Housing & Community Services and Fair Housing Council of Oregon to stay informed and

educated about fair housing policies in our state. These trainings help us to ensure residents don’t face

illegal discrimination for their background, including race and other identities they may hold.

Additionally, DevNW is an active member of the local Rental Housing PM group that meets monthly to

stay apprised of local housing issues and policy changes that may affect the residents who live in our

affordable housing properties.

DevNW’s Asset Management and Resident Services staff are responsible for providing all Community

Health Workers and Property Managers with reoccurring Fair Housing trainings.

20. Describe how your organization/ ownership entity ensures that property management staff providesculturally competent services in working with protected classes.

In collaboration with Asset Management and the Linn Benton Health Equity Alliance, DevNW provides

Diversity, Equity, Inclusion and Justice (DEIJ) trainings to all property managers who live and/or work at

our rental properties. The full day trainings are held at least twice per year and are centered around

relevant and timely topics such as discrimination during the application process, or how to respond to

racist behavior when it happens at your property. Additionally, property managers at DevNW have access

to in-house bilingual staff and translation services for oral and written communications in languages

other than English.

21. Please describe how your organization/project team/ property management staff is working to broadenstaff and board diversity and knowledge around cultural competency.

DevNW management, board leadership, and staff are actively working to advance a commitment to

diversity, equity, and inclusion (DEIJ). As mentioned previously, DevNW is governed by a board of

directors of 11, and composed of individuals representing finance, construction, legal, resident, student,

and immigrant perspectives. With an eye toward diversity, equity, inclusion and justice, we have added

several new members in the past two years who add rich professional and life experience to our board,

helping us to be more representative of the communities we serve. Roughly one-third of our board is low-

income. DevNW has also prioritized hiring a diverse workforce that better represents our changing

communities’ demographics. Today, 36% of our staff are people of color and 16 Spanish-speaking staff

assist with delivering services to Spanish-speaking clients.

DevNW’s programs are culturally responsive and developed in collaboration with community partners

to most effectively meet the needs of vulnerable populations. We currently offer all our classes in both

English and Spanish, as well as online to address barriers to attendance. As a newly merged entity, we

have engaged in an equity review to inform and develop a comprehensive DEIJ plan for our future

planning and growth. With board support, we have reviewed internal policies including service

engagement and delivery, hiring and recruitment, personnel policies, lending policies etc. In addition,

we have begun reviewing ways to better serve communities of color in all business lines including

rentals, financial wellbeing, lending and healthy communities. As a result of this review, which has

been facilitated by a DEIJ consultant, we have implemented various changes to our processes,

including intake and document collection, technology usage, etc. We have also created a DEIJ team


made up of staff from all offices who bring valuable and relevant trainings to the organization to

inform and educate staff and help build a DEIJ culture at DevNW. We currently have a proposal

pending before The Collins Foundation to expand our capacity as an organization to continue to

dismantle racial inequalities and remove barriers which disproportionately impact people and

communities of color. The key goals of this work are: 1. to engage externally and internally in support

of black, indigenous, people of color (BIPOC); 2. to elevate/amplify BIPOC voices, leaders and

organizations in and through our community development work; and 3. to incorporate anti-racist

practices at every level of our organization, from hiring and staff development, to service programs and

housing, including specific training in recognizing and dismantling racism in all its forms.

Attachments

Development consultant agreement (if applicable) Most recent audited financial statement and current year operating budget OR if an

entity does not have an audit, please submit two years of tax returns and an annual operating budget for the entity.

Borrowing Resolution or ownership entity approval to borrow HOME Funds

Please complete the following Excel form in Attachment D and place in this section: ► Form 9, Identity of Interest Matrix

Section 9

Attachment 10: Virtual Board Approval for HOME ApplicationForm 9: Identity of Interest Matrix

Attachment 11: Audited Financial Statement

Attachment 12: 2020 Operating Budget

Attachment 10

Project Sponsor/Developer XGeneral Partner(s)Party(ies) to a Joint VentureManaging Member(s) of LLCCompany Member(s) and/or Manager(s) of LLCSeller/Lessor of Land or Building(s) included in Project

General Contractor(s)Project Management Consultant(s)Engineer(s)Architect(s)Subcontractor(s)Material Supplier(s)Attorney(s)Accountant(s)Lender(s)Property Manager(s)Syndicator(s)Board Member(s)Other: ___Other: ___Explanation of identified Identities of Interest:

Form 9

Ow

ners

hip

Entit

y

Pro

ject

Spo

nsor

/Dev

elop

er

Gen

eral

Par

tner

(s)

Party

(ies)

to a

Joi

nt V

entu

re

Man

agin

g M

embe

r(s) o

f LLC

Com

pany

Mem

ber(s

) and

/or M

anag

ers

of L

L

Sel

ler/L

esso

r of L

and

or B

uild

ing(

s)

Gen

eral

Con

tract

or(s

)

If any individual or entity for the Project is Controlled By, In Control Of, Affiliated With, a Related Party to, or has an Identity of Interest with any of the other individuals or entities for the Project, mark each applicable box with an "X." If there is an "X" marked for any of the individuals or entities for the Project,

include a detailed description of the relationships between the parties.

Acco

unta

nt(s

)

Lend

er(s

)

Pro

perty

Man

ager

Synd

icat

or(s

)

Boar

d M

embe

r(s)

Oth

er:_

__

Atto

rney

(s)

Proj

ect M

anag

emen

t

Eng

inee

r(s)

Arch

itect

(s)

Subc

ontra

ctor

(s)

Mat

eria

l Sup

plie

r(s)

The owner of 89 N. Polk is also the Developer for the project.

Form 9


SECTION 10 SERVICES

Intake and Transition

22. If in Section 3, you indicated that your organization is working with a referral agency, describe theirfocus and service areas:

23. If in Section 3, you indicated that your organization is NOT working with a referral agency, describe howindividuals and families will find out about your program:

Homeless 24. Will this project serve homeless individuals and/or families? Yes No

If no, skip to Question 10-7.

25. If your organization intends to serve homeless individuals and families, indicate your expected clientsource (check all that apply):

Streets Shelters Hospitals Jails Other (please explain)

26. Specify any imposed time limit on tenancy (i.e. up to 24 months for transitional housing). Months

27. Explain how time-limited households will transition into permanent housing.

Polk 2.0 is not intended to be a time-limited housing source. That said, the goal of this project would be to provide the stability and support necessary for residents to eventually shift their housing demand (willingness and ability) toward market-rate housing. DevNW continues to pursue rapid rehousing funding to further support residents in this process when appropriate.

As a provision of our rapid rehousing and supportive services programming already in place in other counties, youth participants may receive rental assistance for a maximum of 24 months, with an additional 6 months of case management and supportive services beyond the 24-month maximum. Throughout participation in our housing, youth are assisted in obtaining care and connected to appropriate services, with a focus on accessing services while maintaining stable housing in order to promote the best long-term health outcomes and a life-long understanding of the role that stable housing plays in physical and mental wellbeing. We also take measures that promote future success in acquiring and maintaining permanent housing after program completion (credit-building resources and positive rental history). Because youth at this age consistently “age out” of various youth services, our programming allows for a transition from youth to adult services with access to our suite of financial education and counseling, and financial resources at each critical next life phase. As a collaborative, we will follow-up with participants to coordinate ongoing resources and support appropriate to each individual’s situation, including enhancing educational or employment pursuits.


Case Management and Other Services 28. Describe your case management or services model and how it leads to housing stability and self-

sufficiency for the client.

DevNW’s case management and coordinated services are focused on a long-term vision of stable, independent, and self-sufficient adulthood and seeks to assist youth with individualized services in accordance with their expressed needs and goals. We approach this work with a framework that prioritizes youth leadership and ownership of their plan; provides comprehensive, wrap-around services that consistently seek the highest level possible of independence and mainstream adult life; is oriented around the self-sufficiency cornerstones of housing, employment, and post-secondary training that leads to a living wage; emphasizes financial knowledge, skills, self-sufficiency, and asset building to break the generational cycle of poverty from which most homeless and foster youth come; and as much as possible, utilizes adult-serving programs and services that will be a long-term resource for youth regardless of their age.

With this framework in mind, we utilize HUD best practices, as well as Harm Reduction and Positive Youth Development best practices as part of a greater strategy to empower the well-being of participants. Employing harm reduction through our housing first model we seek to destigmatize our participants, while also offsetting barriers to housing. Utilizing positive youth development, we promote personal asset building, self-efficacy, and also build intrinsic buy-in for youth participants towards their own personal advancement. The understanding is that the more personal assets a youth builds (community supports, positive relationships, mentoring, responsibility, discipline, etc.), the more likely they are to be a contributing, autonomous agent in society.

DevNW will provide safe and stable housing which closely resembles private market-rate housing, taking measures that promote future success in acquiring and maintaining long-term stable housing (e.g. credit-building resources, positive rental history, and grant-funded rental assistance for transition to permanent housing). DevNW seeks to encourage a seamless transition for youth into stable adulthood with the primary goal of connecting youth to education and/or employment to promote long-term self-sufficiency. While working with DevNW, youth are assisted in obtaining care and connected to appropriate services, with a focus on accessing services while maintaining stable housing in order to promote the best long-term health outcomes and a life-long understanding of the role that stable housing plays in physical and mental wellbeing. For example, we help youth receive benefits from the Oregon Health Plan by connecting them to Coordinated Care Organizations like Trillium and PacificSource. Such connection provides youth with previously inaccessible yet essential health care.

Taking a holistic approach to housing stability, financial wellbeing services are embedded into our housing model, providing participants access to DevNW’s specialty youth financial education curriculum (and all other financial education offerings) and coaching, as well as asset building programs, including Individual Development Accounts, microenterprise, and credit building services, free of charge. All services are offered in English and Spanish. We work individually with participants to help them achieve self-identified goals. Services are available at DevNW’s Springfield offices, at community partner offices, and virtually to create tenant choice and eliminate barriers to participation. In light of the current COVID-19 pandemic, we have adapted to a fully remote mode of assisting youth participants. We have found


current youth clients to embrace technology and have actually seen an increase in communication through use of technology.

DevNW also leverages additional services through a referral network with wraparound supportive case management, connecting youth housed by DevNW or partnering agencies (or on the waiting list for housing through DevNW) without interruption to our holistic menu of component pieces, including medical and mental health services, peer support, education, employment, and financial education and counseling. To leverage our services and ensure we are meeting the complete needs of youth participants, we currently partner and/or provide referrals with McKinney-Vento liaisons for all local Lane County school districts, Lane Community College, Lane Workforce Partnerships, St. Vincent de Paul (and affordable housing developers, HFG, ShelterCare and Cornerstone), Lane County Public Health, South Lane Mental Health, Community Sharing, Catholic Community Services, Coordinated Care Organizations Trillium and PacificSource, Food for Lane County, Laurel Hill Center Willamette Family, Inc., LTD, Looking Glass Independent Living Program, 15th Night’s RAN (Rapid Access Network), Womenspace, and Centro Latino Americano.

29. What are the proposed staffing levels (case manager to household ratio)?

1 (one) case managers to 12 households


30. If services will be provided by another agency, provide the name of the organization that will providethe services, the roles and responsibilities of the agency, and who will be the lead.

Service Provider Role/ Responsibility Lead at Service Provider

31. Describe how coordination of services will be handled.

N/A

Project Fit with Agency Mission

32. Briefly describe how this project fits the organization’s mission and that of any project partner’smission.

DevNW’s mission is to create thriving, inclusive and healthy communities through affordable housing, financial/economic opportunity, small business development and policy change. The underpinning of community is people. Healthy and thriving communities require healthy and thriving residents. Without them, communities cannot thrive. A residents’ wellbeing (physical, mental, social and financial) therefore is paramount to building strong and stable neighborhoods and communities. We seek to provide stable housing for former foster youth and reduce barriers that prohibit youth from accessing needed services. The provision of youth-directed services is not only essential to addressing youth housing instability, but the creation of communities where all residents thrive.

33. Describe your property management experience, or that of your proposed property manager entity, asit relates to working with the proposed population.

In 2015, DevNW opened the first complex dedicated to youth aging out of foster care in Oregon. It remains the only complex dedicated to the long-term housing of this population in Lane County. If granted funding, DevNW plans to expand upon this successful model in order to best serve youth experiencing, or at-risk of homelessness with stable housing which closely mirrors market-rate adult housing and offers peer support to the greatest extent possible. We are well prepared given our experience with youth rapid rehousing and our involvement with an expanded network of care providers, affordable housing developers and private landlords to work with former foster youth to ensure the long-term housing stability. As an affordable housing developer, we have a long history of property management and service to low-income populations including youth at risk of homelessness and former foster youth.

DevNW’s Director of Real Estate Development and Asset Management has over 15 years of experience in real estate development and property management. In addition, Erin is also a Licensed Clinical Social Worker in the state of Oregon and was a foster parent for a period of time prior to moving to Oregon. Erin’s responsibilities regarding this project include oversight of the design, development, financing, and ongoing property management processes, as well as selection of the real estate team and ongoing compliance management.


DevNW’s Asset Manager, Jodi Erickson, has worked for more than a decade advancing affordable housing projects at DevNW. She has been involved in five LIHTC projects overseeing and managing the entire relocation process in three occupied rehabs. Her responsibilities include oversight and coordination of third party property managers, monitoring and evaluation of property performance, all aspects of compliance including lease up and tenant certifications, and regular collection and reporting of key performance indicators to DevNW leadership. Jodi is an integral member of the development team ensuring that all properties operate to best serve residents, the mission of DevNW, and the larger community over the long term while remaining financially healthy. Jodi is a graduate of HDC’s Asset Management and Portfolio Preservation Program and has completed all requirements of the Certified Housing Asset Manager (CHAM) program.

DevNW’s Polk Apartment On-site Manager will be a newly-formed position that will expand upon the

current role and responsibilities of the existing on-site manager. The individual in this role will have

experience in property management, case management, and youth programming. The supervision for this

position will likely be split between Asset Management and our Asset Building/Youth Navigator team lead.

If possible, the individual in this role will also have direct experience (personal or professional) with youth

aging out of the foster care system or a similar population.

Cultural Competency

34. Explain how the service provider organization will provide culturally competent services that meet theneeds of the proposed population.

DevNW is thoughtful and careful in its approach to offering culturally competent, equitable, and trauma-informed services to our clients in a number of ways. First, all of our services, including case management, are available in English and Spanish. We are a culturally competent organization, and take great care to ensure our organizational and marketing materials are accessible, friendly, and appealing to clients across cultural backgrounds. We also work with translation and American Sign Language services for clients with language needs beyond English and Spanish. Second, we let participants know that the services we offer, and the way we deliver them, can be reasonably modified at any time to meet their needs. Third, our program uses a housing-first model and has very minimal barriers to entry. We work with participants to overcome rental or criminal histories that may present challenges to identifying housing. Fourth, our staff are trained in fair housing law, and help to ensure clients don’t face illegal discrimination for their background, including race and other identities they may hold. We have strong relationships with landlords and can leverage these to mediate between participants and their landlord if any crisis comes up, which may affect their housing, creating a plan to keep them securely housed.

Organizationally, DevNW is committed to Diversity, Equity, Inclusion and Justice (DEIJ). DEIJ is central to DevNW’s mission, core beliefs and commitment to social justice and we have a long history of community involvement, inclusion, equity, and leadership development. A focus on healthy homes, neighborhoods, and communities is a unifying theme in much of our work and informs our approach to housing development and management, and client, resident and community engagement.

As a newly merged entity, and to strengthen our commitment to DEIJ, DevNW examined specific internal policies including hiring and recruitment, personnel, and lending policies. As a result of this review, which has been facilitated by a DEIJ consultant, we have implemented various changes to our processes,


including intake and document collection, technology usage, etc. We are committed to expanding this review, conducting a deeper analysis to develop a more holistic understanding of the programs and policies which create unnecessary barriers for communities of color. Examples of our ongoing efforts in this space vary from specific policy reviews to facilitated readings and discussions on race and racial equity. For example, we have begun reviewing ways to better serve communities of color in all business lines including rental housing, financial wellbeing, lending and healthy communities. We have also created an Equity Committee made up of staff from all offices who bring valuable and relevant trainings (one a monthly basis) to the organization to inform and educate staff and help build a DEIJ culture at DevNW. Recent topics have included the race equity continuum, gender, and the immigrant experience. We remain committed to ongoing learning and evaluation of our policies and practices through a DEIJ lens.

35. Describe how the service provider’s staff and board reflect the population that will be served, and howyour organization is working to broaden staff and board diversity and knowledge around culturalcompetency.

DevNW is governed by a board of directors of 11, and composed of individuals representing finance, construction, legal, resident, student, and immigrant perspectives. With an eye toward DEIJ, we have added several new members in the past two years who add rich professional and life experience to our board, helping us to be more representative of the communities we serve. Roughly one-third of our board of directors is low-income, one member is a resident of our affordable rental housing, one has recent lived experience in the foster care system, two identify as people of color, four are women, and many have engaged in our financial wellbeing services. DevNW has also prioritized hiring a diverse workforce that better represents our changing communities’ demographics. Today, 36% of our staff are people of color and 16 Spanish-speaking staff assist with delivering services to Spanish-speaking clients. As mentioned above, DevNW is committed to advancing equity and cultural competency within our organization and board through recruitment of board and staff members that reflect the diversity of cultures, clients and needs within our communities. Additionally, we currently have a proposal pending before The Collins Foundation to support our work to increase our capacity to advance racial equity and cultural competency within the organization and the field of community development.

Rooted in an understanding that communities of color have faced disproportionate barriers to housing and asset building, we have a history of services aimed at the LatinX community - the largest racial minority in our service area. Our services strive to eliminate barriers and help families permanently break free from the cycle of generational poverty.

Attachments Memorandum of Understanding with Service Provider/Referral Agency

Services funding commitment letters

application for home funds general instructions

Documents