gables ph ii app
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Print Preview - FinalApplicationTax Credits, RPP Loans, and/or Tax Exempt Bond Loans
roject Description
oject Name: Gables Phase II
dress: 2108 Statesville Ave.
ty: Charlotte County: Mecklenburg Zip:
ensus Tract: 51 Block Group: 2
project in Qualified Census Tract or Difficult to Develop Area? Yes
olitical Jurisdiction: City of Charlotte
risdiction CEO Name:First:Patrick Last:McCroy
Title: Mayor
risdiction Address: 600 East Fourth Street
risdiction City: Charlotte Zip:
risdiction Phone:
e Latitude:
e Longitude:
oject Type: New Construction
this project a previously awarded tax credit development? No
If yes, what is the project number: Is this a request for supplementalcredits?
w Construction/Adaptive Reuse:his project a follow-on (Phase II, etc) to a previously-awarded tax credit development project? Yes
If yes, list names of previous phase(s): Gables at Druid Hills
ehab:
umber of residents holding Section 8uchers:
l the project meet Energy Star standards as defined in Appendix B? Yes
es a community revitalization plan exist? Yes
ll the project use steel and concrete construction and have at least 4 stories? No
ll the project include a Community Service Facility under IRS Revenue Ruling 2003-77?o
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28206
28202
(704)336-7600
35.2502
-80.8359
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If yes, please describe:
rget Population:Elderly (55)
ll the project be receiving project based federal rental assistance? No
If yes, provide the subsidy source: and number of units:
icate below any additional targeting for special populations proposed for this project:
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal andstate codes.)
Number of Units:
Persons with disabilities or homeless populations: 10% of the total units.
Number of Units:
Remarks: The residents of Gables Phase II will have access to the amenities of the first phase including themanagement office.
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4
8
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pplicant Information
icate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. UndeP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant
come part of the ownership entity. The applicant will execute the signature page for this application.
pplicant Name: Charlotte-Mecklenburg Housing Partnership, Inc.
dress: 4601 Charlotte Park Dr., Suite 350
ty: Charlotte, State: NC Zip:
ontact: First: Patricia Last:Garrett Title:President
lephone:
Phone:
x:
mail Address:
OTE: Email Address above will be used for communication between NCHFA and Applicant.
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28217
(704)342-0933
(704)285-6010
(704)342-2745
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te Description
al Site Acreage: Total Buildable Acreage:
If buildable acreage is less than total acreage, please explain:
The buildable acreage in this case is less than the site acreage because it substracts the local zoningsetbacks ordinance.
ntify utilities and services currently available (and with adequate capacity) for this site:
Storm Sewer Water Sanitary Sewer Electric
he demolition of any buildings required or planned? No
If yes, please describe:
e existing buildings on the site currently occupied? No
If yes:(a) Briefly describe the situation:
(b) Will tenant displacement be temporary?(c) Will tenant displacement be permanent?
he site directly accessed by an existing, paved, publicly maintained road? Yes
If no, please explain:
any portion of the site located inside the 100 year floodplain? No
If yes:(a) Describe placement of project buildings in relation to this area:
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1.313 1.02
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(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
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te Control
es the owner have fee simple ownership of the property (site/buildings)?No
If yes provide:
Purchase Date: Purchase Price:
If no:(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?Yes
(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract fopurchase of the property and the seller of the property?YesIf yes, specify the relationship:
The property is currently owned by Double Oaks Development, LLC Charlotte-Meckenburg HousingPartnership, Inc. is the sole member of Double Oaks Development, Inc.
(c) Enter the current expiration date of the option/contract to purchase:
(D) Enter Purchase Price:
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5/30/2009
720,000
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oning
esent zoning classification of the site:NS
multifamily use permitted?Yes
e variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?No
If yes, have the hearings been completed and permits been obtained?
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for obta
them:
e there any existing conditions of historical significance located on the project site that will require State Historic Preservation office re
If yes, describe below:
e there any existing conditions of environmental significance located on the project site?No
If yes, describe below:
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wnership Entity
wner Name: Gables II, LLC
dress: 4601 Charlotte Park Dr. Ste 350
y: Charlotte State:NC Zip:
deral Tax ID Number of Ownership Entity: (If assigned)
ote: Do not submit social security numbers for individuals.
tity Type: Limited Liability Company
tity Status: Already Formed
the applicant requesting that the Agency treat the application as Non-Profit sponsored? Yes
the applicant requesting that the Agency treat the application as CHDO sponsored? No
st all general partners, members,and principals. Specify nonprofit corporate general partners or members.ck [Add] to add additional partners, members, and principals.
Org: Charlotte-Mecklenburg Housing Partnership, Inc.
st Name: Patricia Last Name: Garrett Function: Managing Memberddress: 4601 Charlotte Park Dr., Ste 350
ty: Charlotte State: NC Zip: 28217
one: Fax:
Mail: Nonprofit: No
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28217
(704)342-0933 (704)342-2745
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Community space within residential bulding(s) - Sq. Ft. (Floor Area):
Elevators - Number of Elevators:
uare Footage Information
oss Floor Square Footage:
tal Net Sq. Ft. (All Heated Areas):
tes
Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low inc
units are within established thresholds.
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4,000
2
91,500
75,520
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argeting
ecify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to cother row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.
BRs Units %
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
tal Low Income Units:
te: This number should match the total number of low income units in the Unit Mix section.
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6 30
2 30
7 30
3 30
32 60
11 60
6 50
5 50
72
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unding Sources
Source AmountNon-
Amortizing*Rate(%)
Term(Years)
Amort.Period(Years)
AnnualDebt
Service
Bank Loan
RPP Loan
Local Gov. Loan - Specify:City of Charlotte Loan
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan
Other Loan 1 - Specify:
Other Loan 2 - Specify:
Other Loan 3 - Specify:
Tax Exempt Bonds
State Tax Credit(Loan)
State Tax Credit(Direct Refund)
Equity: Federal LIHTC
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees
Owner Investment
Other - Specify:
Total Sources**
"Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt serbelow.
Total Sources must equal total replacement cost in Project Development Cost (PDC) section.
timated pricing on sale of Federal Tax Credits: $0.
emarks concerning project funding sources:ease be sure to include the name of the funding source(s))
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1,512,000 4.50 40 40
0 30 30 0
6,482,184
10,000
8,004,184
80
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ans with Variable Amortizationease fill in the annual debt service as applicable for the first 20 years of the project life.
ocal Gov. Loan - City of Charlotte Loan
ear:mt:
1 2 3 4 5 6 7 8 9 10
ear:mt:
11 12 13 14 15 16 17 18 19 20
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0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
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evelopment Costs
Item Cost Element TOTAL COSTEligible Basis
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only)
2 Demolition (Rehab / Adaptive Reuse only)
3 On-site Improvements
4 Rehabilitation
5 Construction of New Building(s)
6 Accessory Building(s)
7 General Requirements (max 6% lines 2-6)
8 Contractor Overhead (max 2% lines 2-7)
9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest)
10 Construction Contingency (max 3% lines 2-9, Rehabs 6%)
11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10)
12 Architect's Fee - Inspection
13 Engineering Costs
SUBTOTAL (lines 1 through 13)
14 Construction Insurance (prorate)
15 Construction Loan Orig. Fee (prorate)
16 Construction Loan Interest (prorate)
17 Construction Loan Credit Enhancement (prorate)
18 Construction Period Taxes (prorate)
19 Water, Sewer and Impact Fees
20 Survey
21 Property Appraisal
22 Environmental Report
23 Market Study
24 Bond Costs
25 Bond Issuance Costs
26 Placement Fee
27 Permanent Loan Origination Fee
28 Permanent Loan Credit Enhancement
29 Title and Recording
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576,000 518,400
4,392,000 4,392,000
288,000 288,000
90,000 90,000
396,000 396,000
144,000 144,000
150,000 150,000
25,000 25,000
100,000 100,000
6,161,000
50,000 40,000
20,000 18,000
240,000 216,000
5,000 5,000
117,575 117,575
12,000 12,000
12,000 12,000
9,000 9,000
10,300 10,300
10,000
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SUBTOTAL (lines 14 through 29)
30 Real Estate Attorney
31 Other Attorney's Fees
32 Tax Credit Application Fees (Preliminary and Full)
33 Tax Credit Allocation Fee (0.60% of line 59, minimum $7,500)
34 Cost Certification / Accounting Fees
35 Tax Opinion
36 Organizational (Partnership)
37 Tax Credit Monitoring Fee
SUBTOTAL (lines 30 through 37)
38 Furnishings and Equipment
39 Relocation Expense
40 Developer's Fee
41
42
43 Rent-up Expense
44
45
SUBTOTAL (lines 38 through 45)
46 Rent up Reserve
47 Operating Reserve
48
49
50 DEVELOPMENT COST (lines 1-49)
51 Less Federal Financing
52 Less Disproportionate Standard
53 Less Nonqualified Nonrecourse Financing
54 Less Historic Tax Credit
55 TOTAL ELIGIBLE BASIS
56 Applicable Fraction (percentage of LI Units)
57 Basis Before Boost
58 Boost for QCT/DDA (if applicable, enter 130%)
59 TOTAL QUALIFIED BASIS
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485,875
20,000 20,000
20,000
2,200
57,551
15,000 15,000
5,000
10,000
50,400
180,151
50,000 50,000
750,000 750,000
Other Basis Expense (s
Other Basis Expense (s
24,000
Other Non-basis Expen
Other Non-basis Expen
824,000
30,000
153,158
Other Reserve (specify)
Other Reserve (specify)
7,834,184 0 7,378,275
0
7,378,275 0 7,378,275
100.00% 100% 100%
7,378,275 0 7,378,275
130.00% 130.00%
9,591,758 0 9,591,758
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60 Tax Credit Rate
61 Federal Tax Credits at Estimated Rate
62 Federal Tax Credits at 9.00% or 3.75% (maximum $1,000,000)
63 Federal Tax Credits Requested
64 Land Cost
65 TOTAL REPLACEMENT COST
FEDERAL TAX CREDITS IF AWARDED
Comments:
Project oversourced, so max credit awarded is $858,022
Total Replacement Cost per unit:81,750
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3.40 8.50
815,299 0 815,299
863,258 0 863,258
773,521 773,521
170,000
8,004,184
858,022
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arket Study Information
ase provide a detailed description of the proposed project:
ables Phase II Elderly Apartments ("Gables II") is a proposed 72 unit family apartment community onohler Avenue off Statesville Avenue in the Druid Hills neighborhood. The development will face Statesvilleenue and will be contiguous with the Gables at Druid Hills elderly apartments (Gables I). Thevelopment is also located in a qualified Census Tract as defined by HUD and will therefore receive a 30%ost in tax credit equity.
ghteen (18) units will be affordable to residents at 30% AMI and fifty-four (54) units will be affordable touseholds with income up to 60% AMI. Gables II is located within the bounds of the approved Statesvilleenue Corridor Area Plan. A rezoning petition was submitted and approved to enable the construction of
e proposed apartment community. The rezoning petition and the draft site plan anticipate that thevelopment will share amenities and parking with Gables I. The development will have eight (8) dedicatedits for the mobility impaired.
e site is minutes from Downtown Charlotte and the future residents will benefit from surrounding nearbymenities including public schools, parks, libraries, health services and public transportation. In addition thesidents will benefit from swimming pools, community centers, restaurants and a number of places oforship. There are also an abundance of supportive services facilities available to tenants within a two miledius. The development will also benefit from the Double Oaks redevelopment and the future residents willable to take advantage of the new retail and civic uses in this new community.
ables II will have a proposed $8,470,800 ($117,650 per unit) total development cost. There will be 51 (1)droom units at 700 square feet and and 21 (2) bedroom units at 936 square feet.
nstruction (check all that apply):
Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches
Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding
Other:
Covered porch for residents.
ve you built other tax credit developments that use the same building design as this project?Yes
If yes, please provide name and address:
Gables at Druid HillsA 2001 Tax Credit Development2108 Statesville AvenueCharlotte, NC 28206
e Amenities:
e Gable Phase II Elderly Apartments site amenities will include shared outdoor sitting areas, walkingils, covered drive-thru or drop-off at building entry, shared gazebo and multi-purpose room.
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site Activities:
ommunity room will be available for group activities and other day and evenings and on weekends events.e property will host at least two community wide parties per year.
ndscaping Plans:
e facility's exterior will have attractive landscaping in a similar fashion as the developer's prior tax creditmmunities.
erior Apartment Amenities:
ur interior apartment amenities will include indoor sitting area, resident computer center and tenant
orage areas. All units must be equipped with emergency pull chains in master bedroom and in fullthroom.
you plan to submit additional market data (market study, etc.) that you want considered? Yes
If yes, please make sure to include the additional information in your pre-application packet.
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pplicant's Site Evaluation
efly describe your site in each of the following categories:
EIGHBORHOOD CHARACTERISTICS
end and direction of real estate development and area economic health. Physical condition of buildings andprovements in the immediate vicinity. Concentration of affordable housing.
ables II is located within the bounds of the approved Statesville Avenue Corridor Area Plan. A rezoning
etition has been submitted to enable the construction of the proposed apartment community. The rezoningetition and the draft site plan anticipate that the development will share amenities and parking with Theables I. Gables I is a 63 unit tax credit elderly development placed in service in 2003. The first phase wasso developed by Charlotte Mecklenburg Housing Partnership.
URROUNDING LAND USES AND AMENITIES
nd use pattern is residential in character (single and multifamily housing). Extent that the location isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:astewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distributioncilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,
urces of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount andaracter of vacant, undeveloped land. Gables II is located within the bounds of the approved Statesvilleenue Corridor Area Plan. A rezoning petition was submitted and approved to enable the construction of
e proposed apartment community. The rezoning petition and the draft site plan anticipate that thevelopment will share amenities and parking with The Gables I.
TE SUITABILITY
equate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilitiesarticularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project signin relation to traffic corridors. The site is minutes away from Downtown Charlotte through an extended grid
roads and highways. It also enjoys the convenience of a public bus transportation system that runs in frontthe development on Statesville Ave. The future residents will benefit from surounding nearby amenities
cluding public schools, parks, libraries and health services. In addition the residents will benefit from
wimming pools, community centers, restaurants and a number of places of places of worship. There areso and abundance of supportive services facilities available to tenants within a two mile radius. Thevelopment will also benefit from the Double Oaks redevelopment and the future residents will be able to
ke advantage of the new retail and civic uses in this new community. Maps detailing the surroundingmenties are included in the Exhibit F Market Study section.
egree of on-site negative features and physical barriers that will impede project construction or adverselyect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, largeulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-itability for residential use and difficulties posed by the building(s), such as limited parking, environmentaloblems or the need for excessive demolition).
he lot upon which the proposed development will be constructed is a small urban lot. The building isesigned to fit well within the urban fabric and the limitations of the small lot. The building design will beficient and will take advantage of the adjoining Gables Phase I development while accomodating the
quired on-site amenities. The site has no apparent physical barriers or negative features that wouldmpede construction as proposed.
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milarity of scale and aesthetics/architecture between project and surroundings.
ables Phase II Elderly Apartments (Gables II) will be a close reflection in scale, aesthetics andrchitectural vocabulary to it's precedential model (Gables I), which is physically adjacent to it and will shareome amenities and parking resources. Gables Phase II is part of the redevelopment of Double Oakspartments and as such will have to be consistent architecturally with the planned surrounding newonstruction. The architectural firm hired to master plan Double Oaks is in the process of creating a "patternook" that will define the architectural language of the entire neighborhood.
evelopers who purchase developed lots within the community will have to abide by the requirements ofis pattern book. CMHP will work closely with the architect to create the pattern book and will ensure thate affordable new construction is in compliance.
r each applicable neighborhood feature, enter distance from project in miles.
Grocery StoreCommunity/Senior
Center
Mall/Strip Center Hospital
Outdoor Athletic Fields Pharmacy
Day Care/After School Basic Health Care
Schools
Public Transportation
op
Convenience Store
Public Parks
Gas Station
Library
her facilities or services:
her services includes:anks - .43 milesotels - 1.28ovie Theatres - 1.52S Post Offices - 1.15
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6.09
82 .92
28 .23
4 1.34
4
2
7
49
6
59
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evelopment Team
ovide contact information for development team members below:
nagement Agent
ompany: S.L. Nusbaum Realty Company
ddress: 1000 Bank of America Center, One Commercial Place
ty: Norfolk State: VA Zip:
one Email:
ontact Name: First: Gary Last: Hartman
chitect
ompany: Shook Kelly
dress: 2151 Hawkins Street Suite 400
ty: Charlotte State: NC Zip:
one Email:
ontact Name: First: terry Last: shook
orney
ompany: The Brokmann Law Firm, P.C.
ddress: 8058 Corporate Center Drive, Suite 100
ty: Charlotte State: NC Zip:
one Email:
ontact Name: First: Todd Last: Brockmann
estor
ompany: To Be Bid
dress: To Be Bid
ty: To Be Bid State: NC Zip:
one Email:
ontact Name: First: Last:
nsultant/Application Preparer (if different from developer)
ompany:
dress:
ty: State: Zip:
one Email:
ontact Name: First: Last:
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23510
(336)320-3472 [email protected]
28203
(704)377-0661 [email protected]
28226
(704)541-5779 tbrockmann@brockmannlawfirm.
99999
(999)999-9999
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neral Contractor Identity of Interest?
ompany: To Be Bid
dress: To Be Bid
ty: To Be Bid State: NC Zip:
one Email:
ontact Name: First: Last:
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99999
(999)999-9999
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rojected Operating Costs
Project Operations (Year One)
Administrative Expenses
Advertising
Office Salaries
Office Supplies
Office or Model Apartment Rent
Management Fee
Manager or Superintendent Salaries
Manager or Superintendent Rent Free Unit
Legal Expenses (Project)
Auditing Expenses (Project)
Bookkeeping Fees/Accounting Services
Telephone and Answering Service
Bad Debts
Other Administrative Expenses (specify):
SUBTOTAL
Utilities Expense
Fuel Oil
Electricity (Light and Misc. Power)
Water
Gas
Sewer
SUBTOTAL
Operating and Maintenance Expenses
Janitor and Cleaning Payroll
Janitor and Cleaning Supplies
Janitor and Cleaning Contract
Exterminating Payroll/Contract
Exterminating Supplies
Garbage and Trash Removal
Security Payroll/Contract
Grounds Payroll
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2,000
2,000
34,560
33,500
1,500
10,500
5,500
5,700
Training, Travel, Compu1,600
96,860
18,800
8,000
2,000
28,800
1,000
1,000
4,500
500
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Grounds Supplies
Grounds Contract
Repairs Payroll
Repairs Material
Repairs Contract
Elevator Maintenance/Contract
Heating/Cooling Repairs and Maintenance
Swimming Pool Maintenance/Contract
Snow Removal
Decorating Payroll/Contract
Decorating Supplies
Other (specify):
Miscellaneous Operating & Maintenance Expenses
SUBTOTAL
Taxes and Insurance
Real Estate Taxes
Payroll Taxes (FICA)
Miscellaneous Taxes, Licenses and Permits
Property and Liability Insurance (Hazard)
Fidelity Bond Insurance
Workmen's Compensation
Health Insurance and Other Employee Benefits
Other Insurance:
SUBTOTAL
Supportive Service Expenses
Service Coordinator
Service Supplies
Tenant Association Funds
Other Expenses (specify):
SUBTOTAL
Reserves
Replacement Reserves
SUBTOTAL
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15,000
33,500
3,000
6,000
5,000
69,500
62,595
5,000
15,500
5,000
5,060
93,155
0
18,000
18,000
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TOTAL OPERATING EXPENSES
ADJUSTED TOTAL OPERATING EXPENSES(Does not include taxes, reserves and resident support services) *
TOTAL UNITS
(from total units in the Unit Mix section)
PER UNIT PER YEAR
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306,315
225,720
72
3,135
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2. "Total Operating Expenses" comes from 1st-year cash flow, then it is escalated by 4% per year.3. "Debt Service" is the sum of "regular/amortized loan debt service + non-amortizing annual service" as entered by user from
Funding Sources section.4. "Net Cash Flow" is "Net Rental/Other Income" minus "Total Operating Expenses" minus "Debt Service".5. "Debt Coverage Ratio" is ("Net Rental/Other Income" minus "Total Operating Expenses") divided by "Debt Service".
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inimum Set-Asides
NIMUM REQUIRED SET ASIDES (No Points Awarded):
Select one of the following two options:
20% of the units are rent restricted and occupied by households with incomes at or below 50% of the median income (Note: NCredit Eligible Units in the the project can exceed 50% of median income)
40% of the units are rent restricted and occupied by households with incomes at or below 60% of the median income (Note: NCredit Eligible Units in the the project can exceed 60% of median income)
If requesting RPP funds:40% of the units are occupied by households with incomes at or below 50% of median income.
State Tax Credit and QAP Targeting Points:High Income county:
At least twenty-five percent (25%) of qualified units will be affordable to households with incomes at or below thirty percent (30county median income.At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below percent (30%) of county median income.
At least fifty percent (50%) of qualified units will be affordable to households with incomes at or below forty percent (40%) of comedian income.At least fifty percent (50%) of qualified units will be affordable to and occupied by households with incomes at or below forty pe(40%) of county median income.
Tax Exempt BondsThreshold requirement (select one):
At least ten percent (10%) of qualified units will be affordable to and occupied by households with incomes at or below fifty per(50%) of county median income.At least five percent (5%) of qualified units will be affordable to and occupied by households with incomes at or below forty per(40%) of county median income.
Eligible for targeting points (select one):
At least twenty percent (20%) of qualified units will be affordable to and occupied by households with incomes at or below fiftypercent (50%) of county median income.
At least ten percent(10%) of qualified units will be affordable to and occupied by households with incomes at or below forty per(40%) of county median income.
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ull Application Checklist
PLEASE indicate which of the following exhibits are attached to your application. Others may be required as noted.
A Nonprofit Organization Documentation or For-profit Corporation Documentation
B Current Financial Statements/Principals and Owners (signed copies)
C Ownership Entity Agreement, Development Agreement or any other agreements governing development services
D Management Agent Agreement
E Owner and Management Experience & Management Questionnaire (Appendix C)
F Local Government Letter or Letter from Certified Engineer or Land Surveyor Confirming Floodplain Designation with Mapshowing all flood zones (original on letterhead, no fax or photocopies)
G Local Government Letter Confirming Zoning including any pending notices or hearings (original on letterhead, no fax orphotocopies)
H Letters from Local Utility Providers regarding availability and capacity (original on letterhead, no fax or photocopies)
I Documentation from utility company or local PHA to support estimated utility costs
J Appraisal (required for land costs greater than $15,000 and for all Adaptive Re-use and Rehab projects)
K Site plan, floor plans and elevations for all projects. Scope of work for Adaptive Re-use and Rehab projects. (Full Size, 24inches)
L Hazard and structural inspection and termite reports (Adaptive Re-use and Rehab projects only)
M Copy of certificate of occupancy or proof of placed-in-service date (Rehabs Only)
N Proposed Relocation Plan including relocation budget and copies of notices. Required for all Rehabs and any projectsinvolving existing occupants of any dwell ings to be rehabbed or demolished.
O Evidence of Permanent Loan Commitment and other sources of funds ( i.e. Equity letter, AHP, RD and local governmentfunds). For Rehabs with existing loans provide 1) copies of loan documents, 2) current loan balances from existing lenderreserve balances, 3) letter from lender that outlines assumption requirements.
P Local Housing Authority Agreement and Project Based Rental Assistance Letter, if applicable (Sample letters provided inAppendix I). For projects with existing PBRA contracts, provide a copy of the current contract and bank statement or otherdocumentation verifying reserve balances and annual reserve contribution requirements.
Q Statement regarding terms of Deferred Developer Fee. If a nonprofit is involved, a resolution from their board approvingdeferral of fee is required.
R Inducement Resolution (Tax-Exempt Bond Financed Projects only)