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    Print Preview - PreliminaryApplicationTax Credits, RPP Loans, and/or Tax Exempt Bond Loans

    roject Description

    oject Name: 915 Caldwell

    ddress: 915 Caldwell

    ty: Charlotte County: Mecklenburg Zip:

    ensus Tract: 6 Block Group: 2001

    project in Qualified Census Tract or Difficult to Develop Area? Yes

    e you requesting the basis boost under section II(E)(4) of the QAP?

    olitical Jurisdiction: The City of Charlotte

    risdiction CEO Name:First:Pat Last:McCrory

    Title: Mayor

    risdiction Address: 600 East Fourth Street

    risdiction City: Charlotte Zip:

    risdiction Phone:

    te Latitude:

    te Longitude:

    oject Type: New Construction

    Is this project a previously awarded tax creditdevelopment?

    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? No

    ll the project use steel and concrete construction and have at least 4 stories? No

    ttps://www.nchfa.org/Rental/RTCApp/(S(mj3rrl55s...90D5531AC2&SNID=98E52B0EBEF24720A7DA5C9B9E4B1851 (1 of 22)4/8/2009 1:42:15 PM

    28206

    28202-2839

    (704)336-2241

    35.2311

    -80.8287

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    ll the project include a Community Service Facility under IRS Revenue Ruling 2003-77?o

    If yes, please describe:

    rget Population:Elderly (62)

    ll the project be receiving project based federal rental assistance? Yes

    If yes, provide the subsidy source: HUD and number of units:

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    58

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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. UAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applica

    st become part of the ownership entity. The applicant will execute the signature page for this application.

    pplicant Name: Charlotte Housing Authority

    ddress: 1301 South Boulevard

    ty: Charlotte State: NC Zip:

    ontact: First: Jeff Last:Meadows Title:Sr. Development Officer

    elephone:

    t Phone:

    ax:

    mail Address:

    OTE: Email Address above will be used for communication between NCHFA and Applicant.

    ttps://www.nchfa.org/Rental/RTCApp/(S(mj3rrl55s...90D5531AC2&SNID=98E52B0EBEF24720A7DA5C9B9E4B1851 (3 of 22)4/8/2009 1:42:15 PM

    28206

    (704)353-0324

    (704)336-7767

    [email protected]

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    te Description

    tal Site Acreage: Total Buildable Acreage:

    If buildable acreage is less than total acreage, please explain:

    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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    1.994 1.994

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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)?Yes

    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?

    (b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contractpurchase of the property and the seller of the property?If yes, specify the relationship:

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

    (D) Enter Purchase Price:

    ttps://www.nchfa.org/Rental/RTCApp/(S(mj3rrl55s...90D5531AC2&SNID=98E52B0EBEF24720A7DA5C9B9E4B1851 (6 of 22)4/8/2009 1:42:15 PM

    10/18/2004 1,325,000

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    oning

    esent zoning classification of the site:MUDD and MUDD (CD)

    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 forobtaining them:

    e there any existing conditions of historical significance located on the project site that will require State Historic Preservation officeiew?No

    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(mj3rrl55s...90D5531AC2&SNID=98E52B0EBEF24720A7DA5C9B9E4B1851 (7 of 22)4/8/2009 1:42:15 PM

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    wnership Entity

    wner Name: 915 Caldwell, LLC

    dress: 1301 South Boulevard

    y: Charlotte State:NC Zip:

    deral Tax ID Number of Ownership Entity: (If assigned)

    ote: Do not submit social security numbers for individuals.

    ntity Type: Limited Liability Company

    ntity Status: To Be 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.ick [Add] to add additional partners, members, and principals.

    Org: Horizon Development Properties, Inc.

    rst Name: Charles Last Name: Woodyard Function: Principal

    ddress: 1301 South Boulevard

    ty: Charlotte State: NC Zip: 28203

    hone: Fax:

    Mail: Nonprofit: Yes

    Org: Charlotte Housing Authority

    rst Name: Charles Last Name: Woodyard Function: Principal

    ddress: 1301 South Boulevardty: Charlotte State: NC Zip: 28203

    hone: Fax:

    Mail: Nonprofit: Yes

    ttps://www.nchfa.org/Rental/RTCApp/(S(mj3rrl55s...90D5531AC2&SNID=98E52B0EBEF24720A7DA5C9B9E4B1851 (8 of 22)4/8/2009 1:42:15 PM

    28203

    (704)336-5221 (704)336-7767

    [email protected]

    (704)336-5221 (704)336-7767

    [email protected]

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    Community space within residential bulding(s) - Sq. Ft. (Floor Area):

    Elevators - Number of Elevators:

    quare Footage Information

    oss Floor Square Footage:

    otal Net Sq. Ft. (All Heated Areas):

    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 state codes.)

    Number of Units:

    Number of Units Required:

    Persons with disabilities or homeless populations.

    Number of Units:

    tes

    Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low

    income units are within established thresholds.

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    22,759

    2

    88,233

    86,371

    10

    10

    10

    http://www.nchfa.com/Rental/Mincomelimits.aspxhttp://www.nchfa.com/Rental/Mincomelimits.aspx
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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] ate another 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

    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(mj3rrl55s...90D5531AC2&SNID=98E52B0EBEF24720A7DA5C9B9E4B1851 (11 of 22)4/8/2009 1:42:15 PM

    58 60

    42 30

    100

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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:Housing Trust Fund (HTF)

    RD 515 Loan

    RD 538 Loan - Specify:

    AHP Loan

    Other Loan 1 - Specify:Charlotte Housing Authority

    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 debtservice below.

    Total Sources must equal total replacement cost in Project Development Cost (PDC) section.

    stimated 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))

    ttps://www.nchfa.org/Rental/RTCApp/(S(mj3rrl55s...90D5531AC2&SNID=98E52B0EBEF24720A7DA5C9B9E4B1851 (12 of 22)4/8/2009 1:42:15 PM

    800,000 1.00 30 30

    673,328 5.00 30 30

    1,443,891 0 30 30 0

    9,616,914

    12,534,133

    74

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    TF Funding is anticipated by May 2009. This loan is proposed as an interest only loan at 1%.

    HA Loan is proposed at 5% cash flow contingent and/or accruing.

    ans with Variable Amortizationease fill in the annual debt service as applicable for the first 20 years of the project life.

    ocal Gov. Loan - Housing Trust Fund (HTF)

    ear:mt:

    1 2 3 4 5 6 7 8 9 10

    ear:mt:

    11 12 13 14 15 16 17 18 19 20

    her Loan 1 - Charlotte Housing Authority

    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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    8000 8000 8000 8000 8000 8000 8000 8000 8000 8000

    8000 8000 8000 8000 8000 8000 8000 8000 8000 8000

    33666 33666 33666 33666 33666 33666 33666 33666 30000 26000

    21500 16600 11700 6500 900 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 5% lines 2-9, Rehabs 10%)

    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

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    0

    0 0

    1,400,000 1,400,000

    0 0

    6,627,980 6,627,980

    0 0

    474,000 474,000

    158,000 158,000

    474,000 474,000

    345,000 345,000

    162,020 162,020

    25,000 25,000

    150,000 150,000

    9,816,000

    30,383 15,000

    55,000

    150,000 77,000

    0

    50,000 50,000

    0

    15,000 15,000

    10,000 10,000

    45,000 45,000

    10,000 10,000

    0

    0

    0

    0

    0

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    29 Title and Recording

    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 (0.62% of line 60, 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 Additional Contigency (greater of $500/unit or $30,000)

    42

    43

    44 Rent-up Expense

    45

    46

    SUBTOTAL (lines 38 through 45)

    47 Rent up Reserve

    48 Operating Reserve

    49

    50

    51 DEVELOPMENT COST (lines 1-49)

    52 Less Federally Funded Grant

    53 Less Disproportionate Standard

    54 Less Nonqualified Nonrecourse Financing

    55 Less Historic Tax Credit

    56 TOTAL ELIGIBLE BASIS

    57 Applicable Fraction (percentage of LI Units)

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    15,000

    380,383

    105,000 105,000

    25,000 25,000

    2,300

    83,150

    29,300 29,300

    70,000

    314,750

    165,000 80,250

    0

    800,000 800,000

    30,000 30,000

    Inspections, Building Pe 101,000

    Other Basis Expense (s

    36,000

    Other Non-basis Expen

    Other Non-basis Expen

    1,132,000

    36,000

    255,000

    Social Services Sinking 600,000

    Other Reserve (specify)

    12,534,133 0 11,107,550

    0

    0

    0

    0 0

    11,107,550 0 11,107,550

    100.00% 100% 100%

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    58 Basis Before Boost

    59 Basis Boost of up to 130%

    60 TOTAL QUALIFIED BASIS

    61 Tax Credit Rate

    62 Federal Tax Credits (maximum $1,300,000)

    63 Federal Tax Credits Requested (if less than line 62)

    64 Land Cost

    65 TOTAL REPLACEMENT COST

    FEDERAL TAX CREDITS IF AWARDED

    Comments:

    Project Development Cost per unit66,280

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    11,107,550 0 11,107,550

    100.00% 130.00%

    14,439,815 0 14,439,815

    3.50 9.00

    1,299,583 0 1,299,583

    0

    0

    12,534,133

    1,299,583

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    arket Study Information

    ease provide a detailed description of the proposed project:

    e proposed elderly project will consist of 100 one-bedroom units in a mid-rise elevator building. Thesign approach will include the following interior and exterior elements:

    omfortable, Accessible and Visitable Apartments with Good Storage and Furnishability; and

    e Management Offices, Maintenance Shop, Resident Laundry Rooms, Informal Sitting Areas,

    ongragate/Dining Hall with Warming Kitchen, Library, Common Lobbies per Floor will provide excellentility to provide residents a substantial level of service with an outstanding quality of life; and

    alking Trails, Resident Gardens, Outdoor Seating, and Picnic Area will encourage the residentsWellness"; and

    edestrian links connect the site to the Center City through a network of sidewalks. The site is also a fewndred feet from the proposed light rail system. An aerial photo located in the application package

    ustrates these relationships to the proposed site; and

    te Plans, Elevations and Floor Plans included in the application package demonstrate the high qualitysign included in this urban mid-rise building that blend within the context and character of the surroundingighborhood.

    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:

    See attached plans and elevations. The urban design is appropriate given the context of this urban infill siteat the edge of Charlotte's Central Business District commonly referred to as "Uptown". This prodcut willcompliment the existing 940 Brevard Senior apartments and the Historic Renovation of the Alpha Mill. Bothsites are adjacent to/across the street from the subject site.

    ve you built other tax credit developments that use the same building design as this project?Yes

    If yes, please provide name and address:

    940 Brevard Senior Apartments is located 940 Brevard Street. 915 Caldwell is "not" a phase II of 940Brevard. 915 Caldwell will be a stand alone project.

    e Amenities:

    e proposed project will include: community space of approximately 22,759 square feet, Resident Gardenots, Walking Trails, Gazebo/Arbor, Picnic Area with Tables, Covered Drive Through and Drop Off atntry, Sitting Area, Game and Craft Room, Exercise Room, Exam Room, Library/Reading Room, Residentomputer Room, TV Room, Vending Area and Storage Area.

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    site Activities:

    e Charlotte Housing Authority (CHA) will provide a variety of support services appropriate for the elderlypulation through the CHA Moving Forward program. The Moving Forward program is a federalmonstration program that focuses on service provision to promote self sufficiency and quality of life.ese services may include Nutrition Programs (Meals on Wheels or County On-site Food Program),

    ganized health activities such as exercise classes and health exams. Other services will be designed todress expressed needs of the residents.

    ndscaping Plans:

    e have budgeted approxiamtely $110,000 for landscaping. Given that the site is relatively small thisdget will provide for a substantial landscaped environment. A concerted planning effort will be made to

    end the proposed site landscape with 940 Brevard and Alpha Mill by using similar plant materials andanting patterns. This approach will establish a relationship between the properties in the newlytablished neighborhood block over time as the landscapes mature over time.

    erior Apartment Amenities:

    e apartments will include: Range, Hood, Dishwasher, Disposal, Refrigerator, Storage, Mini-blinds, Pantry,eiling Fans, Walk-in Closets, Carpet, Vinyl, Alarm/Call System, and HVAC systems.

    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.

    HA is leading a major redevelopment effort in the urban area surrounding the proposed site. A 2004

    OPE VI Grant for Piedmont Courts of $20M has been utilized to recreate this neighborhood area. TheOPE VI Grant has directly and indirectly leveraged public and private resources in excess of $100M toansform the built environment in the area. The revitalization effort has included the development of 940revard Senior Apartments; Seigle Point Apartments; Seigle Point Townhomes; The Seigle Pointommunity Center; McAden Apartments; Alpha Mills Apartments; redevelopment of the City Yards;gnificant investments by the City of Charlotte for planning efforts and infrastructre including an adoptedmall area plan; roads, utilities, stormwater and landscaping; moving industrial uses out of the area toreate and sustain the residential character of the neighborhood.

    he site is also adjacent to the First Ward Neighborhood. First ward was also a revitalization effortpearheaded by CHA in the 1990's that resulted in one of the City's most desirable neighborhoods with aalance of affordable and market rate housing. CHA has won four revitalization grants and one demolitionrant (First Ward, Piedmont Courts, Arbor Glen and The Park at Oaklawn as well as Belvedere,

    espectively) that have transformed each of the surrounding areas significantly. The award and theuccessful execution of these grants demonstrates CHA's ability to deliver on projects. They also indicaten endorsement by HUD and the City of Charlotte of CHA's redevelopment strategies.

    he development of this site will fill an urban infill site providing another piece of revitalization effort. Thete of the proposed project is located between Caldwell and Brevard Streets and bound to the south by2th Street, just outside Charlotte's uptown at the western edge of the Belmont Neighborhood and at theouthern most edge of the Optimist Park Neighborhood. The site is across Brevard Street from the Alphaill, a late 19th Century textile mill that has been redeveloped (Completed in late 2007) into class A

    partments that has reached stabilized occupancy. Immediately north accross the newly reconfigured Newalvine Street (A $1.45M City funded project that transformed a high speed connector road into aeighborhood street with on street parking) is the 940 Brevard Seniors Apartments. 940 Brevard, a taxredit project, was completed in late 2008 and is fully occupied with a waiting list of 26 and growing. The

    004 market study for the 940 project indicated demand for the senior low income product and the 940roject demonstrated that demand. 940 Brevard recieved its Certificate of Occupancy in late September008 and reached full occupancy by mid November 2008. The senior population in Charlotte continues torow particulary in the lower wealth population.

    n aerial photo is included in the application package and demonstrates the relationships outlined above.

    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. The land use pattern in the area is primarily multifmaily with some

    ngle family, office and light industrial which is consistent with an urban area and is compatible withsidential development. The site is a few blocks from the center of the Central Business District (CDB) ande services and amenities that come with an urban CBD. A set of rail road tracks is active on the oppositede of the block from the site which are buffered by the Alpha Mill and 940 Brevard buildings. The building,

    indicated on the provided site plan, will be located on the site at the greatest distance from the RR tracksssible and building techniques to be used will properly insulated the building. The City's Transit facility is

    cated accross Caldwell Street from the site and the buses are parked on the site. The dramatic shift lowersite elevation brings the tops of the buses level with the street grade behind a retaining wall. The subjecte is the primary undeveloped site in the immediate area. The private investment in Alpha Mill and thecucpnacy demand at 940 Brevard indicate the strength of the site's location and desirability to all economicnges. The introduction of additional senior product will blend with the existing environment well. Also of

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    te is the many churches that are located along North Tryon and in the Belmont and Optimist PArkeighborhoods which tend to be of particulary interest to the senior population. The is site is within closeoxmity to many goods and services as indicated below in the neighborhood feature section including ablic health clinic at the Hal Marshall Center and Presbyterian Hosptial to name a few of interest. Also note

    at both the 940 Brevard and 915 Caldwell sites include +/- 1/2 acre sites for future developement of for saleultifamily product. The sites will allow for 30 to 60 units to be developed as one project at a later date. Theure development will be at least three stories and no more than five in scale with the surrounding area.

    TE SUITABILITY

    dequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilities

    articularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project sign in relation to traffic corridors. The site is well connected to the transportation network through residentialeets, the Light Rail/Trolley (existing line three blocks away) and sidewalks as shown on the maps includedthe application package. The site is properly buffered from the 277 inner loop by 12th street and thequired set backs of the site's zoning category. However, this site will be highly visible to passing traffictering and exiting the uptown Central Business District and associated amenities. The project is planninginclude .5 parking spaces per unit given the elderly residents generally have fewer cars and tend to drive

    ss and generate less traffic and burden on the transportation network. The site will have two points ofgress and egress both on residential oriented streets with adequate access and relatively low traffic.

    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, environmental

    oblems or the need for excessive demolition).he proposed site does not have any negative features that would impede development. The site doesave a change in grade dropping approximately 10-15 feet from Caldwell Street toward Brevard Street.owever, this grade change is being used to the projects advantage to create a future development sitescussed below. Parking provided will exceed the zoning requirement. The site does not have any knownnvironmental issues.

    milarity of scale and aesthetics/architecture between project and surroundings.

    he proposed 4 story mid-rise building at 915 Caldwell will compliment the exisitng urban oriented design ofe 4 story development at 940 Brevard and Alpha Mill. The proposed development will use brick, metal and

    ardiplank in a similar method to blend and contrast with the existing environment. The color palate will alsoe implemented in a fashion to distinguish the proposed devlopment's identity but not clash with thexisiting character on the neighborhood.

    r each applicable neighborhood feature, enter distance from project in miles.

    Grocery Store Community/Senior Center

    Mall/Strip Center Hospital

    Outdoor Athletic

    eldsPharmacy

    Day Care/After

    choolBasic Health Care

    SchoolsPublic Transportation

    Stop

    Convenience Store Public Parks

    ttps://www.nchfa.org/Rental/RTCApp/(S(mj3rrl55s...90D5531AC2&SNID=98E52B0EBEF24720A7DA5C9B9E4B1851 (20 of 22)4/8/2009 1:42:15 PM

    6 .3

    .3 1.3

    79.7

    3.2

    .1

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    Gas Station Library

    her facilities or services:

    e site location is a few blocks from Charlotte's Central Business District and affords the residents a fullmpliment of services and entertainment opportunities. Museums, theathers, libraries, restaurants,orting events, concert halls and office buildings are within walkable distances from within a 1/2 mile toout one mile. Charlotte' transportation center is about a 1/2 mile from the site offering access to the hubthe Public Transit System. Only a site located in an expanding and vibrant urban condition offers such ade range of options and opportunities for services and amenities.

    ttps://www.nchfa.org/Rental/RTCApp/(S(mj3rrl55s...90D5531AC2&SNID=98E52B0EBEF24720A7DA5C9B9E4B1851 (21 of 22)4/8/2009 1:42:15 PM

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    reliminary App Checklist

    e following enclosures must be submitted along with your signed preliminary application. Some enclosures are required only undetain conditions. Please check each applicable item to indicate that you understand the enclosure requirements and will enclose threct supporting documentation with your application.

    Fee PaymentCheck in the amount of $5,450.00 made payable to North Carolina Housing Finance Agency.

    Tab A - Preliminary ApplicationPrinted, signed copy of preliminary application generated from online system.

    B - Map/Driving InstructionsA local map clearly identifying the location of the Site and detailed directions to the Site. Current City or County maps are prefe

    internet maps and directions are not acceptable. Applicant must also provide a map identifying the amenities listed in section(A)(1)(b)(ii) of the QAP and their proximity to the site.

    Applicant must provide a sign and boundary markers to clearly identify the road frontage of the site. The sign identifying the sitshould read SITE with a minimum size of 11x17.

    C - Community Revitalization Plan

    Applicant should provide a map identifying the subject site within the Plan area (if applicable).D - Evidence of Site ControlProvide valid option/contract or warranty deed and plot plan.

    E - Site Plans/Scope of WorkPreliminary site plan, floor plans and elevations for all projects, interior and exterior photographs and detailed scope of work foAdaptive Reuse and Rehab projects. Site and floor plans should be no larger than 11x17 and must be produced by a licensedarchitect or engineer.

    F - Information Package for Market AnalystsThis section must include copies of items required in Tabs A, B, E and G (site and floor plans should be no larger than 11x17) can include any additional market information such as preliminary market studies the applicant would like to provide to theAnalysts.

    G - Rent Roll (Rehabs only)

    Provide the current rent roll for the property and indicate which units (if any) are receiving rental assistance.H - Documentation for Basis BoostApplicant should provide an appraisal and/or standard geological survey to support a request for the basis boost (if applicable)