statesville app
TRANSCRIPT
-
8/6/2019 Statesville App
1/29
rint - APP08-0037
Print Preview - FinalApplicationTax Credits, RPP Loans, and/or Tax Exempt Bond Loans
roject Description
oject Name: Statesville Avenue Apartments
dress: 2501 Statesville Ave.
ty: Charlotte County: Mecklenburg Zip:
ensus Tract: 50 Block Group: 1
project in Qualified Census Tract or Difficult to Develop Area? Yes
olitical Jurisdiction: City of Charlotte
risdiction CEO Name:First:Patrick Last:McCrory
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? No
If yes, list names of previous phase(s):
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?es
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45e...32956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (1 of 29)9/16/2008 2:15:52 PM
28206
28202
(704)336-7600
35.2541
-80.8360
-
8/6/2019 Statesville App
2/29
rint - APP08-0037
yes, please describe: This project will include a separate day care facility.
rget Population:Family
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: A partnership will be developed with a local lead agency to act as to service coordinator.
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45e...32956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (2 of 29)9/16/2008 2:15:52 PM
5
10
-
8/6/2019 Statesville App
3/29
rint - APP08-0037
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., Ste. 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.
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45e...32956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (3 of 29)9/16/2008 2:15:52 PM
28217
(704)342-0933
(704)342-2745
-
8/6/2019 Statesville App
4/29
rint - APP08-0037
te Description
al Site Acreage: Total Buildable Acreage:
If buildable acreage is less than total acreage, please explain:
Site's buildable acreage is less than total acreage due to the substraction of the local zoning setbackordinance.
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? Yes
If yes, please describe:
We will be demolishing (16) one story housing units to accommodate proposed project. The demolition and
relocation will be completed prior to tax credit award and the costs will not be incurred by the project.
e existing buildings on the site currently occupied? Yes
If yes:(a) Briefly describe the situation:
CMHP has hired a relocation specialist to relocate the current tenants of Double Oaks Apartments. Thisrelocation will comply with the requirements of the Uniform Relocation Act.
(b) Will tenant displacement be temporary? No(c) Will tenant displacement be permanent? Yes
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:
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45e...32956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (4 of 29)9/16/2008 2:15:52 PM
4.42 4.01
-
8/6/2019 Statesville App
5/29
rint - APP08-0037
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45e...32956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (5 of 29)9/16/2008 2:15:52 PM
-
8/6/2019 Statesville App
6/29
rint - APP08-0037
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-Mecklenburg HousingPartnership, Inc. is the sole member of Double Oaks Redevelopment, LLC.
(c) Enter the current expiration date of the option/contract to purchase:
(D) Enter Purchase Price:
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45e...32956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (6 of 29)9/16/2008 2:15:52 PM
5/30/2009
960,000
-
8/6/2019 Statesville App
7/29
rint - APP08-0037
oning
esent zoning classification of the site:R-22MF
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:
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45e...32956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (7 of 29)9/16/2008 2:15:52 PM
-
8/6/2019 Statesville App
8/29
rint - APP08-0037
wnership Entity
wner Name: Statesville Avenue Homes, 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
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45e...32956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (8 of 29)9/16/2008 2:15:52 PM
28217
(704)342-0933 (704)343-2745
-
8/6/2019 Statesville App
9/29
-
8/6/2019 Statesville App
10/29
rint - APP08-0037
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.
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (10 of 29)9/16/2008 2:15:52 PM
121,400
100,320
http://www.nchfa.com/lib/html/rental/Median%20Income%20Charts/income_limits.htmhttp://www.nchfa.com/lib/html/rental/Median%20Income%20Charts/income_limits.htm -
8/6/2019 Statesville App
11/29
rint - APP08-0037
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.
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (11 of 29)9/16/2008 2:15:52 PM
5 30
5 30
7 30
7 30
28 60
29 60
8 50
7 50
96
-
8/6/2019 Statesville App
12/29
rint - APP08-0037
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))
e site is located within a HUD defined QCT
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (12 of 29)9/16/2008 2:15:52 PM
2,400,000 4.50 40 40
946,179 0 30 30 0
8,499,150
10,000
11,855,329
85
-
8/6/2019 Statesville App
13/29
rint - APP08-0037
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
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (13 of 29)9/16/2008 2:15:52 PM
48000 48000 48000 48000 48000 48000 48000 48000 48000 48000
48000 48000 48000 48000 48000 48000 48000 48000 48000 48000
-
8/6/2019 Statesville App
14/29
rint - APP08-0037
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
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (14 of 29)9/16/2008 2:15:52 PM
768,000 691,200
5,952,000 5,952,000
1,056,000 1,056,000
384,000 384,000
120,000 120,000
528,000 528,000
192,000 192,000
200,000 200,000
25,000 25,000
100,000 100,000
9,325,000
60,000 48,000
40,000 36,000
240,000 216,000
20,000 20,000
112,200 112,200
12,000 12,000
12,000 12,000
9,000 9,000
10,300 10,300
10,000
-
8/6/2019 Statesville App
15/29
rint - APP08-0037
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
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (15 of 29)9/16/2008 2:15:52 PM
525,500
20,000 20,000
20,000
2,200
82,748
15,000 15,000
5,000
10,000
67,200
222,148
50,000 50,000
800,000 800,000
Other Basis Expense (s
Other Basis Expense (s
33,871
Other Non-basis Expen
Other Non-basis Expen
883,871
30,000
243,810
Other Reserve (specify)
Other Reserve (specify)
11,230,329 0 10,608,700
0
10,608,700 0 10,608,700
100.00% 100% 100%
10,608,700 0 10,608,700
130.00% 130.00%
13,791,310 0 13,791,310
-
8/6/2019 Statesville App
16/29
rint - APP08-0037
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:
Total Replacement Cost per unit:93,750
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (16 of 29)9/16/2008 2:15:52 PM
3.40 8.50
1,172,261 0 1,172,261
1,241,218 0 1,241,218
1,000,000 1,000,000
625,000
11,855,329
1,000,000
-
8/6/2019 Statesville App
17/29
rint - APP08-0037
arket Study Information
ase provide a detailed description of the proposed project:
atesville Avenue Apartments ("Statesville Avenue") is a proposed 96 unit family apartment communitynting Statesville Avenue in the Double Oaks neighborhood. The development will also include space foricensed day care facility within a separate basis eligible Community Service Facility as defined by the
ode. The census tract (i.e. tract 50) is a Qualified Census Tract as defined by HUD. Qualified Censusacts receive a 30% boost in tax credit equity.
rty eight (48) units will be affordable to residents at 30% AMI and forty eight (48) units will be affordablehouseholds with income up to 60% AMI. Statesville Avenue is located within the bounds of the Charlottety Council approved Double Oaks Apartment Redevelopment Plan. Charlotte-Mecklenburg Housing
artnership, Inc. ("CMHP") purchased Double Oaks Apartments in late 2007. Double Oaks is currentlymposed of 576 apartments that were constructed in 1949 and are now largely dilapidated. CMHP is in theocess of relocating residents and will start demolition of the existing units in early 2008.
MHP has submitted a petition to rezone Double Oaks January, 2008. The site for Statesville Avenuepartments is currently zoned R-22 MF which allows the proposed multifamily development UR-2 (Urbanesidential 2).
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 of
orship. There are also an abundance of supportive services facilities available to tenants within a two mileduis.
atesville Avenue will have a proposed $12,341,515 ($128,557 per unit) total development cost. There will48 (2) bedroom units at 931 square feet and 48 (3) bedroom units at 1159 square feet.
ere will also be a separate clubhouse/ leasing office on site. Site amenities will include a tot lot,ayground, covered picnic area with grills, outdoo sitting area with benches, bike racks, TV roomand high-eed Internet access availabe for each unit.
ources of funding other than the requested Federal Low Income Housing Tax Credits will include a loanm the City of Charlotte Housing Trust Fund and State Tax Credit loan.
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:
The construction of Statesville Avenue Apartments exterior construction will be vinyl, brick and wooddecorative trims.
ve you built other tax credit developments that use the same building design as this project?Yes
If yes, please provide name and address:
The proposed Development will have a design that is similar to Rivermere Apartments, 3404 DunnCommuns Parkway, Charlotte NC 28216
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (17 of 29)9/16/2008 2:15:52 PM
-
8/6/2019 Statesville App
18/29
rint - APP08-0037
e Amenities:
atesville Avenue Apartments will have the following site amenities: A residential playground, coveredcnic areas, outdoor sitting areas with benches, a tot lot area and walking trails.
site Activities:
e project will include a daycare center servicing up to (79) children. A community room will also beailable to be reserved by residents for private parties and other events in the evenings and on weekend.e property will host at least two community wide parties per year.
ndscaping Plans:
e site will have attractive landscaping in a similar fashion as the developer's prior tax credit communities.
erior Apartment Amenities:
is project will include the following interior amenities:residential computer center. Each apartment unit will also include range, hood, dishwasher, disposal,rigerator w/ ice maker, washer and dryer hook-ups, pantry, walk-in closets, mini blinds, carpet, vinyloring and central air conditioning.
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.
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (18 of 29)9/16/2008 2:15:52 PM
-
8/6/2019 Statesville App
19/29
rint - APP08-0037
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.
tatesville Avenue Apartments ("Statesville Avenue") is a proposed 96 unit family apartment community
onting Statesville Avenue in Double Oaks neighborhood. The development will also include space for acensed day care facility within a separate basis eligible Community Service Facility as defined by theode. The census tract (i.e. tract 50) is a qualified Census Tract as defined by HUD. Statesville Avenuepartments will be an essential part of the larger Double Oaks Redevelopment. A site concept plan forouble Oaks is included application binder. CMHP fully intends to develop Statesville Avenue Apartmentsfully meet Energy Star requirements. This is in keeping with the Double Oaks redevelopment which is
anned to be a "Green" development that meets either Earth Craft or LEED requirements.
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. Statesville Avenue is located within the bounds of the Charlotte City
ouncil approved Double Oaks Apartments Redevelopment Plan. This plan was approved by the Cityouncil July 2007. Charlotte-Mecklenburg Housing Partnership, inc. ("CMHP") purchased Double Oakspartments in late 2007. Double Oaks is currently composed of 576 apartments that were constructed in49 and are now largely dilapidated. CMHP is in the process of relocating residents and will start demolitionthe existing units in early 2008. CMHP has submitted a petition to rezone Double Oaks January, 2008. Thee for Statesville Avenue Apartments is currently zoned R-22 MF which allows the proposed multifamilyvelopment UR-2 (Urban Residential 2).
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 sign
in relation to traffic corridors. The site is minutes from Downtown Charlotte and the future residents willnefit from surrounding nearby amenities including public schools, parks, libraries, health services andblic transportation. In addition the residents will benefit from swimming pools, community centers,staurants and a number of places of worship. There are also an abundance of supportive services facilitiesailable to tenants within a two mile raduis. Maps detailing the surrounding amenties are included in thehibit 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).
his development will not be impeded by negative features and/or costly physical barriers that will impedeonstruction as proposed.
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (19 of 29)9/16/2008 2:15:52 PM
-
8/6/2019 Statesville App
20/29
rint - APP08-0037
milarity of scale and aesthetics/architecture between project and surroundings.
tatesville Avenue Apartments will have a close resemblance in scale, aesthetics and architecturalocabulary to our proposed Kohler Avenue Apartments (starting construction in 2008) and the surroundingsidential community. As stated, Statesville Avenue, 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 uncludes:anks - .57 milesotels - .96 milesovie Theatres - 1.83 milesS post Offices - 1.20 miles
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (20 of 29)9/16/2008 2:15:52 PM
7.10
92 1.02
38 .55
5 .80
24
2
7
75
26
49
-
8/6/2019 Statesville App
21/29
rint - APP08-0037
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 Kelley
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: Tood 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:
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (21 of 29)9/16/2008 2:15:52 PM
23510
(336)320-3472 [email protected]
28203
(704)377-0661 [email protected]
28226
(704)541-5779 tbrockmann@brockmannlawfirm.
99999
(999)999-9999
-
8/6/2019 Statesville App
22/29
rint - APP08-0037
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:
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (22 of 29)9/16/2008 2:15:52 PM
99999
(999)999-9999
-
8/6/2019 Statesville App
23/29
rint - APP08-0037
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
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (23 of 29)9/16/2008 2:15:52 PM
2,500
2,000
46,080
46,000
4,000
10,500
8,500
11,000
Training, Travel, Compu7,100
137,680
8,000
36,000
4,000
48,000
1,000
6,000
-
8/6/2019 Statesville App
24/29
rint - APP08-0037
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
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (24 of 29)9/16/2008 2:15:52 PM
20,000
46,000
10,000
20,600
103,600
83,460
8,800
24,080
3,000
7,000
126,340
0
24,000
24,000
-
8/6/2019 Statesville App
25/29
rint - APP08-0037
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
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (25 of 29)9/16/2008 2:15:52 PM
439,620
332,160
96
3,460
-
8/6/2019 Statesville App
26/29
-
8/6/2019 Statesville App
27/29
rint - APP08-0037
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".
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (27 of 29)9/16/2008 2:15:52 PM
-
8/6/2019 Statesville App
28/29
rint - APP08-0037
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.
ttps://www.nchfa.org/Rental/RTCApp/(S(0yuzmf45...2956538E6&SNID=C67EFF566DE74940B3194693AD31DD1B (28 of 29)9/16/2008 2:15:52 PM
-
8/6/2019 Statesville App
29/29
rint - APP08-0037
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)