Buckman Road - 2009 VA

2009 Federal Low Income Housing Tax Credit Program

Application For Reservation

Virginia Housing Development Authority601 South Belvidere StreetRichmond, Virginia 23220-6500

Deadline for Submission

9% Competitive CreditsApplications Must Be Received At VHDA No Later Than 5:00 PM

Richmond, VA Time On May 15, 2009

Tax Exempt BondsApplications should be received at VHDA at least one month

before the bonds are priced (if bonds issued by VHDA), or 75 days before the bonds are issued (if bonds are not issued by

VHDA)

2009 v1.1.2009

Low Income Housing Tax Credit Application for Reservation

Electronic Copy of the Microsoft Excel Based Application (MANDATORY) Hard Copy of All Application Pages With Signature (MANDATORY)Scanned Copy of the Tax Credit Application with all Attachments (excluding market study and plans & specs) (MANDATORY) $750 Application Fee (MANDATORY)Tab A: Documentation of Development Location: A.1 Qualified Census Tract Certification A.2 Revitalization Area Certification

Location MapSurveyor's Certification of Proximity To Public Transportation

Tab B: Partnership or Operating Agreement, including chart of ownership structure with percentage of interests (MANDATORYTab C: Virginia State Corporation Commission Certification (MANDATORY)Tab D: Principal's Previous Participation Certification and Resumé (MANDATORY)Tab E: Nonprofit Questionnaire (MANDATORY for points or pool)

The following documents need not be submitted unless requested by VHDA: -Nonprofit Articles of Incorporation -IRS Documentation of Nonprofit Status -Joint Venture Agreement (if applicable) -For-profit Consulting Agreement (if applicable)

Tab F: Architect's Certification (MANDATORY)Tab H: PHA / Section 8 Notification LetterTab I: Local CEO LetterTab J: Homeownership PlanTab K: Site Control Documentation (MANDATORY)Tab L: Plan of Development Certification LetterTab M: Zoning Certification LetterTab N: Copies of 8609s To Certify Developer ExperienceTab O: (Reserved)Tab P: Plans and Specifications and Work Write-Up (MANDATORY)Tab Q: Documentation of Rental AssistanceTab R: Documentation of Operating BudgetTab S: Documentation of Project BudgetTab T: Documentation of Financing SourcesTab U: (Reserved)Tab V: Nonprofit or LHA Purchase Option or Right of First RefusalTab W: Original Attorney's Opinion (MANDATORY)Tab X: (Reserved)Tab Y: Marketing Plan for units meeting accessibility requirements of HUD section 504Tab Z Market Study (MANDATORY-Application will be disqualified if market study not submitted with the application)

Please indicate if the following items are included with your application by checking the appropriate boxes. Your assistance in organizing the submission in the following order, and actually using tabs to mark them as shown, will facilitate review of your application. Please note that all mandatory items must be included for the application to be processed. The inclusion of other items may increase the number of points for which you are eligible under VHDA's point system of ranking applications, and may assist VHDA in its determination of the appropriate amount of credits that it may reserve for the development. You are therefore encouraged to submit as much requested information as is available, but their inclusion is not mandatory for review of your application.

2009 Submission Checklist

Low-Income Housing Tax Credit Application For Reservation

VHDA TRACKING NUMBER 2009-Z-019I. General Information

All code "Section" references are to, and the term "IRC" shall be deemed to mean, May 12, 2009the Internal Revenue Code of 1986, as amended. (Date of Application)

A. Development Name and Location:1. Name of Development Buckman Road Apartments2. Address of Development 3426 Buckman Road

(Street)Alexandria Virginia 22309

(City) (State) (Zip Code)

3. If complete address is not available, provide longitude and latitude coordinates (x,y) fromlocation on site your surveyor deems appropriate.

Documentation from surveyor attached (TAB A) (Only necessary if street address or street intersections are not available.(Coordinates should be the same as those listed on pg 13, if applicable)

4. The Circuit Court Clerk's office in which the deed to the property is or will be recorded:City/County of Fairfax County (ie; Richmond City, Chesterfield County; see application manual)

5. Does the site overlap one or more jurisdictional boundaries? Yes NoIf yes, what other City/County is the site located in besides the one mentioned above?

6. Is the development located in a Metropolitan Statistical Area? Yes No7. Census Tract the development is located in: 4216

Is this a Qualified Census Tract: Yes No (If yes, attach required form in TAB A) 8. Is the development located in a Difficult Development Area? No9. Is the development located in a revitalization area? Yes No (If yes, attach required form in TAB A)10. Is the development an existing RD or HUD S8/236 development? Yes No (If yes, attach required form in TAB Q)

Note: If there is an identity of interest between the applicant and the seller in this proposal, and the applicant is seeking points inthis category, then the applicant must either waive their rights to the developer's fee or other fees associated with acquisition and/orrehabilitation, or obtain a waiver of this requirement from VHDA prior to application submission to receive these points.

a. Applicant agrees to waive all rights to any developer's fee or other fees associated with acquisition and/or rehab. Yes n/ab. Applicant has obtained a waiver of this requirement from VHDA prior to the application submission deadline. Yes n/a

11. Is the development located in a census tract with a povertyrate <10% with no tax credit units currently present? Yes No

12. Is the development listed on the RD 515 Rehabilitation Priority List? Yes No

13. Congressional District 8 http://dlsgis.state.va.us/congress/2001PDFs/chap7Tab.pdf

Planning District 8 http://www.vapdc.org/aboutpdcs.htm#PDC%20Map

State Senate District 30 http://dlsgis.state.va.us/senate/2001PDFs/Chap2Tab.pdf

State House District 44 http://dlsgis.state.va.us/House/2001HousePDFs/Chap1Tab.pdf

14. Location Map Attached (TAB A)

B. Project Description:In the space provided below, give a brief description of the proposed project.

Buckman Road Apartments is a 204-unit apartment community located in the Alexandria area of Fairfax County that was built in the early 1970's under the HUD Section 236 program. The property was acquired by Community Preservation and Development Corporation, a 501(c)(3) not-for-profit, in 1996.

The buildings have all brick facades with pitched roofs. Although the units have individual HVAC systems, all utilities are centrally metered. The project has been well-managed and well-maintained. The property is consistently at least 98% occupied. The property has had no systematic renovation.

CPDC’s goal for the renovation is to make the project a model of sustainability. The renovations will be thorough and will result in units that are resource-efficient and accessible. Moreover, the renovations themselves will be resource-efficient. For instance, the renovations will be performed with residents in place (which preserves financial resources for the renovation hard costs) and wherever possible will involve selective, rather than wholesale, replacement (which preserves the embodied energy in the existing materials). Highlights of the scope of work include: • Replacement of all existing windows and sliding glass doors with new energy efficient models (Energy Star where applicable).• Replacement of all lighting fixtures and refrigerators with Energy Star models and replacement of all plumbing fixtures with water-saving

2009 Page 1

Low Income Housing Tax Credit Application For Reservation

C. Reservation Request

1. Total annual credit amount request (Must be the same as Part IX-D8) $1,013,082

2. Credits requested from:

9% CreditsNonprofit Set-Aside (All nonprofit owned developments which meet testsdescribed in Part II-D hereof may select this)Local Housing Authorities Tidewater MSA PoolNorthern Virginia MSA Pool Small MSA/Micropolitan PoolRichmond MSA Pool Rural Pool

Non-Competitive Pool (Preservation) Non-Competitive Pool (Disability)

Tax Exempt Bonds

new construction, or

rehabilitation, or

acquisition and rehabilitation.

Federal SubsidiesThe development will not receive federal subsidies.

This development will receive federal subsidies for:all buildings or

some buildings.

D. Type(s) of Allocation/Allocation Year

1. Regular Allocation

All of the buildings in the development are expected to be placed in service this year. For those buildings the owner will, this year, request anallocation of 2008 credits for new construction, or

rehabilitation, or

acquisition and rehabilitation.

2. Carryforward Allocation

All of the buildings in the development are expected to be placed in service within two years after the end of this calendar year, 2009, but theowner will have more than 10% basis in the development before the end of sixmonths following allocation of credits. For those buildings, the owner requests a carryforward allocation of 2009 credits pursuant to Section 42(h)(1)(E) for:

new construction, or

rehabilitation, or

acquisition and rehabilitation (even if you acquired a building this year and"placed it in service" for the purpose of the acquisition credit, you cannot receivethe 8609 form for it until the rehab 8609 is issued for that building once the rehabwork is "placed in service" in 2010 or 2011).

3. Federal SubsidiesThe development will not receive federal subsidies.

This development will receive federal subsidies for:all buildings or

some buildings.

2009 Page 2


E. Acquisition Credit Information NOTE: If no credits are being requested for existing buildings being acquired for the development,

so indicate and go on to Part F: No Acquisition

Ten-Year Rule For Acquisition Credits

All buildings satisfy the 10-year look-back rule of IRC Section 42 (d)(2)(B), including the 10% basis/$15,000.00 rehab costs ($10,000 for Tax Exempt Bonds) per unit requirement.

All buildings qualify for an exception to the 10-year rule under IRC Section 42(d)(2)(D)(i),Subsection (I)Subsection (II)Subsection (III)Subsection (IV)Subsection (V)

A waiver of the 10-year rule for all buildings has been or will be requested from the Department of the Treasury pursuant to IRC Section 42(d)(6)(B)

Different circumstances for different buildings: Attach a separate sheet and explain for each building.

F. Rehabilitation Credit Information

NOTE: If no credits are being requested for rehabilitation expenditures, so indicate and go on to Section II. No Rehabilitation

Minimum Expenditure Requirements

All buildings in the development satisfy the rehab costs per unit requirement of IRCSection 42(e)(3)(A)(ii).All buildings in the development qualify for the IRC Section 42(e)(3)(B) exception to the 10% basis requirement (4% credit only).All buildings in the development qualify for the IRC Section 42(f)(5)(B)(ii)(II) exception.

Different circumstances for different buildings. Attach a separate sheet and explain for each building.

2009 Page 3


II. OWNERSHIP INFORMATION

A. Owner Information:Name Buckman Road Development LLCContact Person First: Paul Middle: P. Last: BrowneAddress 5513 Connecticut Avenue NW, Suite 250

(Street)Washington DC 20015

(City) (State) (Zip Code)

Federal I. D. No. 26-3887523 (If not available, obtain prior to Allocation)Phone 202-885-9567 Fax 202-895-8805 Email address [email protected] of entity: Limited Partnership Other Limited Liability Company

Individual(s) CorporationOwner's organizational documents (e.g. Partnership agreements) attached (Mandatory TAB B)Certification from Virginia State Corporation Commission attached (Mandatory TAB C)

Principal(s) involved (e.g. general partners, LLC members, controlling shareholders, etc.)Names ** Phone Type Ownership % OwnershipCPDC Buckman Road LLC 202-895-8900 Managing Member 0.01%Community Housing, Inc. 202-895-8900 Interim Member 99.99%J. Michael Pitchford, President & C.E.O. 202-895-8900 n/a 0.00%Gerald H. Joseph, Vice President 202-895-8900 n/a 0.00%

0.00%0.00%0.00%

This should be 100% of the GP or managing member interest: 100.00%

** These should be the names of individuals who comprise the GP or managing members, not simply the names ofseparate partnerships or corporations which may comprise those components.

Principals' Previous Participation Certification attached (Mandatory TAB D), resumé, & ownership structure chart.

B. Seller Information:Name Buckman Road Preservation Corporation Contact Person Gerald JosephAddress 5513 Connecticut Avenue NW, Suite 250Washington, DC 20015 Phone 202-895-8900

Is there an identity of interest between the seller and owner/applicant? Yes NoIf yes, complete the following:

Principal(s) involved (e.g. general partners, controlling shareholders, etc.)Names Phone Type Ownership % OwnershipCommunity Preservation and Dev. Corp. 202-895-8900 Parent Corp. 100.00%J. Michael Pitchford, President & C.E.O. 202-895-8900 n/a 0.00%Gerald H. Joseph, Vice President 202-895-8900 n/a 0.00%

0.00%

NOTE: VHDA may allocate credits only to the tax-paying entity which owns the development at the time of the allocation. The term "Owner" herein refers to that entity. Please fill in the legalname of the owner. The ownership entity must be formed prior to submitting this application. Any transfer, direct or indirect, of partnership interests (except those involving the admission oflimited partners) prior to the placed-in-service date of the proposed development shall be prohibited, unless the transfer is consented to by VHDA in its sole discretion. IMPORTANT: TheOwner name listed on this page must match exactly the owner name listed on the Virginia State Corporation Commission Certification.

Must be an individual or legally formed entity

2009 Page 4


C. Development Team Information:Complete the following as applicable to your development team.

1. Tax Attorney: Jonathan Klein Related Entity? Yes NoFirm Name: Klein Hornig LLPAddress: 145 Tremont Street, Boston, MA 02111Phone: (617) 224-0607 Fax:

2. Tax Accountant: Ed Ryan Related Entity? Yes NoFirm Name: Reznick GroupAddress: 7700 Old Georgetown Road, Suite 400, Bethesda, MD 20814-6224Phone: (301) 961-5534 Fax:

3. Consultant: Related Entity? Yes NoFirm Name: Role:Address:Phone: Fax:

4. Management Entity (Contact): Scott Jones Related Entity? Yes NoFirm Name: Edgewood Management CorporationAddress: 20316 Seneca Meadows Parkway, Germantown, MDPhone: (301) 562-1600 Fax:

5. Contractor (Contact): To Be Determined Related Entity? Yes NoFirm Name:Address:Phone: Fax:

6. Architect: Ted Cage Related Entity? Yes NoFirm Name: Wiencek + Associates, Architects + PlannersAddress: 1814 N. Street NW, Washington, DC 20036Phone: (202) 349-0742 Fax: (202) 349-0740

7. Real Estate Attorney: Erik Hoffman Related Entity? Yes NoFirm Name: Klein Hornig LLPAddress: 1275 K Street NW, Suite 1200, Washington, DC 20005Phone: (202) 842-0125 Fax:

8. Mortgage Banker: Related Entity? Yes NoFirm Name:Address:Phone: Fax:

9. Other (Contact): Related Entity? Yes NoFirm Name: Role:Address:Phone: Fax:

2009 Page 5


D. Nonprofit Involvement:

Tax Credit Nonprofit Pool Applicants: To qualify for the nonprofit pool, an organization described in IRC Section 501 (c)(3) or 501 (c)(4) and exempt from taxation under IRC Section 501 (a), whose purposes include the fostering of low-income housing:

1. Must "materially participate" in the development and operation of the project throughout the compliance period, 2. Must own all general partnership interests in the development .3. Must not be affiliated with or controlled by a for-profit organization.4. Must not have been formed for the principal purpose of competition in the nonprofit pool, and5. Must not have any staff member, or member of the nonprofit's board of directors materially participate in the proposed project

as a for-profit entity.

All Applicants: To qualify for points under the ranking system, the nonprofit's involvement need not necessarilysatisfy all of the requirements for participation in the nonprofit tax credit pool

1. Nonprofit Involvement (All Applicants)If there is no nonprofit involvement in this development, please indicate by checking here

and go on to part III

2. Mandatory QuestionnaireIf there is nonprofit involvement, you must complete the Non-Profit Questionnaire

Questionnaire attached (Mandatory TAB E)

3. Type of involvement Nonprofit meets eligibility requirement for points only, not pool or

Nonprofit meets eligibility requirements for nonprofit pool and points

4. Identity of Nonprofit (All nonprofit applicants)The nonprofit organization involved in this development is

the Ownerthe Applicant (if different from Owner)Other

Community Housing, Inc.(Name of nonprofit)

Gerald Joseph 5513 Connecticut Avenue NW, Suite 250(Contact Person) (Street Address)

Washington DC 20015(City) (State) (Zip code)

202-895-8900 202-895-8801(Phone) (Fax)

5. Percentage of Nonprofit Ownership (All nonprofit applicants)Specify the nonprofit entity's percentage ownership of the general partnership interest: 100.0%

Applications For 9% Credits - Must be completed in order to compete in the nonprofit tax credit pool.All Applicants - Must be completed for points for nonprofit involvement under the ranking system.

2009 Page 6


III. DEVELOPMENT INFORMATION

A. Structure and Units:1. Total number of all units in development 204

Total number of rental units in development 204 bedrooms 408Number of low-income rental units 145 bedrooms 290Percentage of rental units designated low-income 71.08%

2. The development's structural features are (check all that apply):

Row House/Townhouse Detached Single-familyGarden Apartments Detached Two-familySlab on Grade BasementCrawl space Age of Structure: 35Elevator Number of stories: 3

3. Number of new units 0 bedrooms 0Number of adaptive reuse units 0 bedrooms 0Number of rehab units 204 bedrooms 408

4. Total Floor Area For The Entire Development 196,043.00 (Sq. ft.)

5. Unheated Floor Area (Breezeways, Balconies, Storage) 17,202.00 (Sq. ft.)

6. Nonresidential Commercial Floor Area 0.00 (Sq. ft.)

(Not eligible for funding)

7. Total Usable Residential Heated Area 178,841.00 (Sq. ft.)

8. Number of Buildings (containing rental units) 17

9. Commercial Area Intended Use:

10. Project consists primarily of a building(s) which is (are) (CHOOSE ONLY ONE)

Low-Rise (1-5 stories with any structural elements made of wood)Mid-Rise (5-7 stories with no structural elements made of wood)High-Rise (8 or more stories with no structural elements made of wood)

B. Building Systems:Please describe each of the following in the space provided.Community Facilities: 3,000 sf Community Programs Space, basketball court, tot lot

Exterior Finish: BrickHeating/AC System: Gas Furnaces + Split System Electric AC (proposed)Architectural Style: Traditional 1960's garden style

2009 Page 7

Low-Income Housing Tax Credit Application For ReservationC. Amenities:

1. Specify the average size per unit type: (Including pro rata share of heated common area) Assisted Lvg 0.00 SF 1Bdrm Eld 0.00 SF 3-Bdrm Gar 1,049.73 SF 1-Sty-Eff-Eld 0.00 SF 2Bdrm Eld 0.00 SF 4-Bdrm Gar 0.00 SF 1-Sty 1BR-Eld 0.00 SF Eff-Gar 0.00 SF 2-Bdrm TH 0.00 SF 1-Sty 2BR-Eld 0.00 SF 1-Bdrm Gar 706.35 SF 3-Bdrm TH 0.00 SF Eff-Eld 0.00 SF 2-Bdrm Gar 875.46 SF 4-Bdrm TH 0.00 SF

2. Total gross usable, heated square feet for the entire project less nonresidential commercial area: 178,841.00 Documentation attached (TAB F) Mandatory

(Sq. ft.)

NOTE: All developments must meet VHDA's Minimum Design and Construction Requirements. By signing and submitting the Application For Reservation of Low Income Housing Tax Credits the applicant certifies that the proposed project budget, plans & specifications and work write-ups incorporate all necessary elements to fulfill these requirements.

3. Check the following items which apply to the proposed project: Documentation attached (TAB F Architect Certification) Mandatory

For any project, upon completion of construction/rehabilitation: (Optional Point items)

0% a(1) Percentage of 2-bedroom units that have 1.5 bathrooms

0% a(2) Percentage of 3 or more bedroom units that have 2 bathrooms

b. A community/meeting room with a minimum of 749 square feet is provided

100% c. Percentage of exterior walls covered by brick (excluding triangular gable ends, doors and windows)

d. All kitchen and laundry appliances meet the EPA's Energy Star qualified program requirements

e. All windows meet the EPA's Energy Star qualified program requirements

f. Every unit in the development is heated and air conditioned with either (i) heat pump units with both aSEER rating of 14.0 or more and a HSPF rating of 8.2 or more and a variable speed air handling unit(for through- the-wall heat pump equipment that has an EER rating of 11.0 or more), or (ii) airconditioning units with a SEER rating of 14.0 or more and a variable speed air handling unit, combinedwith gas furnaces with an AFUE rating of 90% or more

g. Water expense is sub-metered (the tenant will pay monthly or bi-monthly bill)

h. Each bathroom consists only of low-flow faucets (2.2 gpm max.) and showerheads (2.5gpm max.)

i. Provide necessary infrastructure in all units for high speed cable, DSL or wireless internet sevice.

j. All water heaters meet the EPA's Energy Star qualified program requirements.

2009 Page 8

Low Income Housing Tax Credit Application For Reservation

For all projects exclusively serving elderly and/or handicapped tenants, upon completion of construction/rehabilitation: (Optional Point items)

a. All cooking ranges will have front controls

b. All units will have an emergency call system

c. All bathrooms will have an independent or supplemental heat source

d. All entrance doors have two eye viewers, one at 48" and the other at standard height

For all rehabilitation and adaptive reuse projects, upon completion of construction oror rehabilitation: (Optional Point items)

The structure is listed individually in the National Register of Historic Places or is located in a registered historic district and certified by the Secretary of the Interior asbeing of historical significance to the district, and the rehabilitation will be completedin such a manner as to be eligible for historic rehabilitation tax credits

Accessibility

Check one or none of the following point categories, as appropriate:

For any non-elderly property in which the greater of 5 or 10% of the units (i) provide federal project-based rent subsidies oequivalent assistance in order to ensure occupancy by extremely low-income persons; (ii) conform to HUD regulationinterpreting accessibility requirements of section 504 of the Rehabilitation Act; and (iii) are actively marketed to people witspecial needs in accordance with a plan submitted as part of the Application. (If special needs include mobility impairmentthe units described above must include roll-in showers and roll under sinks and front controls for ranges).

For any non-elderly property in which the greater of 5 or 10% of the units (i) have rents within HUD’s Housing ChoiceVoucher (“HCV”) payment standard; (ii) conform to HUD regulations interpreting accessibility requirements of section 504 othe Rehabilitation Act; and (iii) are actively marketed to people with mobility impairments, including HCV holders, inaccordance with a plan submitted as part the Application.

For any non-elderly property in which at least four percent (4%) of the units conform to HUD regulations interpretingaccessibility requirements of section 504 of the Rehabilitation Act and are actively marketed to people with mobilityimpairments in accordance with a plan submitted as part of the Application.

Earthcraft or LEED Development CertificationApplicant agrees to obtain Earthcraft or LEED certification prior to issuance of IRS Form 8609. Architectcertifies in the Architect Certification that the development's design will meet the criteria for such certification

Yes - Earthcraft Yes - LEEDIf Yes to either, attach appropriate documentation at TAB F

LEED Accredited Design Team MemberOne or more members of the design team is a LEED accredited professional.

Yes No If Yes, attach appropriate documentation at TAB F

Universal Design - Units Meeting Universal Design Standardsa. The architect of record certifies that units will be constructed to meet VHDA's Universal Design standards.

Yes No If Yes, attach appropriate documentation at TAB F

b. Number of Rental Units constructed to meet VHDA's Universal Design standards:2 Units 1%

VHDA Certified Property Management AgentOwner agrees to use a VHDA Certified Property Management Agent to manage the property.

Yes No

Yes No N/A The market-rate units' amenities are substantially equivalent to those of thelow-income units. If no, explain differences:

2009 Page 9


IV. TENANT INFORMATION

A. Set-Aside Election: UNITS SELECTED BELOW IN BOTH COLUMNS DETERMINE POINTS FOR THE BONUS POINT CATEGORY

Units Provided Per Household Type:

# of Units % of Units # of Units % of Units

0 0.00% 40% Area Median 0 0.00% 40% Area Median145 71.08% 50% Area Median 145 71.08% 50% Area Median

0 0.00% 60% Area Median 0 0.00% 60% Area Median59 28.92% Non-LMI Units 59 28.92% Non-LMI Units204 100.00% Total 204 100.00% Total

B. Special Housing Needs/Leasing Preference:

1. If 100% of the low-income units will be occupied by either or both of the following special needs groups as defined by the United States Fair Housing Act, so indicate:

Yes Elderly (age 55 or above)Yes Physically or mentally disabled persons (must meet the requirements of the federal

Americans with Disabilities Act)

2. Specify the number of low-income units that will serve individuals and families with children by providing three or more bedrooms: Number of units 33% of total low-income units

3. If the development has existing tenants, VHDA policy requires that the impact of economic and/or physicaldisplacement on those tenants be minimized, in which Owners agree to abide by the Authority's RelocationGuidelines for LIHTC properties.

Select one: N/A Relocation Plan Documentation attached (TAB G)

4. If leasing preference will be given to applicants on public housing waiting list and/or Section 8 waiting list, so indicate:

Yes NoLocality has no such waiting list; If yes, provide the following information:

Organization which holds such waiting list: Fairfax County Redevelopment and Housing AuthorityContact person (Name and Title) Carol Erhard, Director Housing Choice Voucher ProgramPhone Number 703-246-5217 Required documentation attached (TAB H)

5. If leasing preference will be given to individuals and families with children. (Less than or equal to 20% of the units must have of 1 or less bedrooms).

YesNo

Income Levels Rent Levels

48

Note: In order to qualify for any tax credits, a development must meet one of two minimum threshold occupancy tests. Either (i) at least 20% of the unitsmust be rent-restricted and occupied by persons whose incomes are 50% or less of the area median income adjusted for family size (this is called the 20/50test) or (ii) at least 40% of the units must be rent-restricted and occupied by persons whose incomes are 60% or less of the area median income adjusted forfamily size (this is called the 40/60 test), all as described in Section 42 of the IRC. Rent-and income-restricted units are known as low-income units. If youhave more low-income units than required, you qualify for more credits. If you serve lower incomes than required, you receive more points under the rankinsystem.

2009 Page 10


V. LOCAL NEEDS AND SUPPORT

A. Provide the name and the address of the chief executive officer (City Manager, Town Manager, or County Administrator) of the political jurisdiction in which the development will be located: Chief Executive Officer's Name Anthony GriffenChief Executive Officer's Title County ExecutiveStreet Address Office of the County Executive, 12000 Government Ctr. Pkwy Phone 703-324-2531City Fairfax State VA Zip 22035

Name and title of local official you have discussed this project with who could answer questions for thelocal CEO: Aseem Nigam, Director of Development Finance

Letter from CEO attached (TAB I) CEO letter to be submitted separately by June 1, 2009

VHDA notification letter to CEO submitted prior to 5:00 PM 3/5/09: (9% competitive credits only) Yes No

If the property overlaps another jurisdiction please fill in the following:Chief Executive Officer's Name Chief Executive Officer's TitleStreet Address PhoneCity State Zip

Name and title of local official you have discussed this project with who could answer questions for thelocal CEO:

Letter from CEO attached (TAB I) CEO letter to be submitted separately by June 1, 2009

VHDA notification letter to CEO submitted prior to 5:00 PM 3/5/09: (9% competitive credits only) Yes No

B. Project Schedule

ACTUAL OR NAME OFACTIVITY ANTICIPATED PERSON

DATE RESPONSIBLESiteOption/Contract May 11, 2009 Paul BrowneSite Acquisition October 31, 2009 Paul BrowneZoning Approval N/ASite Plan Approval N/AFinancingA. Construction Loan

Loan Application July 1, 2009 Paul BrowneConditional Commitment August 1, 2009 Paul BrowneFirm Commitment October 15, 2009 Paul Browne

B. Permanent Loan - First LienLoan Application July 1, 2009 Paul BrowneConditional Commitment August 1, 2009 Paul BrowneFirm Commitment October 15, 2009 Paul Browne

C. Permanent Loan-Second LienLoan Application N/A N/AConditional Commitment N/A N/AFirm Commitment N/A N/A

D. Other Loans & GrantsType & Source, ListApplication N/A N/AAward/Commitment N/A N/A

Formation of Owner December 15, 2008 Paul BrowneIRS Approval of Nonprofit StatusClosing and Transfer of Property to Owner October 31, 2009 Paul BrownePlans and Specifications, Working Drawings December 1, 2009 Paul BrowneBuilding Permit Issued by Local Government February 1, 2010 Paul BrowneStart Construction February 15, 2010 Paul BrowneBegin Lease-up February 15, 2010 Paul BrowneComplete Construction August 1, 2011 Paul BrowneComplete Lease-Up September 1, 2011 Paul BrowneCredit Placed in Service Date September 1, 2011 Paul Browne 2009 Page 11


VI. SITE CONTROL

A. Type of Site Control by Owner:

Applicant controls site by (select one and attach document - Mandatory TAB K)

Deed - attached

Long-term Lease - attached (expiration date: )

Option - attached (expiration date: )

Purchase Contract - attached (expiration date: 11/01/09 )

If more than one site for the development and more than one form of site control, please so indicate and attach a separate sheet specifying each site, number of existing buildings on the site, if any,

type of control of each site, and applicable expiration date of form of site control. A site controldocument is required for each site.

B. Timing of Acquisition by Owner:Select one:

Owner already controls site by either deed or long-term lease or

Owner is to acquire property by deed (or lease for period no shorter than period property will be subject to occupancy restrictions) no later than 10/31/09 (must be prior to November 7, 2008).

If more than one site for the development and more than one expected date of acquisition byOwner, please so indicate and attach separate sheet specifying each site, number of existing buildings on the site, if any, and expected date of acquisition of each site by the Owner.

C. Market Study Data:

Obtain the following information from the Market Study conducted in connection with this tax credit application and enter below:

Project Wide Capture Rate - LIHTC UnitsProject Wide Capture Rate - Market UnitsProject Wide Capture Rate - All UnitsProject Wide Absorption Period (Months)

2.70%2.70%2.70%

24

Note: Site control by the Owner identified herein is a mandatory precondition of review of this application. Documentary evidence of it,in the form of either a deed, option, purchase contract, or lease for a term longer than the period of time the property will be subject tooccupancy restrictions must be included herewith. (9% Competitive Credits - An option or contract must extend beyond theapplication deadline by a minimum of four months.)

Warning: Site control by an entity other than the Owner, even if it is a closely related party, is not sufficient. Anticipated future transfersto the Owner are not sufficient. The Owner, as identified in Subpart II-A, must have site control at the time this Application issubmitted.

NOTE: If the Owner receives a reservation of credits, the property must be titled in the name of or leased by (pursuant to a long-termlease) the Owner before the allocation of credits is made this year.

Contact us before you submit this application if you have any questions about this requirement.

2009 Page 12


C. Site Description

1. Exact area of site in acres 10.330

2. Has locality approved a final site plan or plan of development? Yes No

Required documentation form attached (TAB L)

3. Is site properly zoned for the proposed development? Yes No

Required documentation form attached (TAB M)

4. Will the proposal seek to qualify for points associated with proximity to public transportation?Yes No Required documentation form attached (TAB A)

D. Photographs

Include photographs of the site and any existing structure(s) in TAB O. For rehabilitation projects, provide interior pictures which document the necessity of the proposed work

E. Plans and Specifications

Minimum submission requirements for all properties (new construction, rehabilitation and adaptive reuse)

1. A location map with property clearly defined.2. Sketch plan of the site showing overall dimensions of main building(s), major site elements

(e.g., parking lots and location of existing utilities, and water, sewer, electric,gas in the streets adjacent to the site). Contour lines and elevations are not required.

3. Sketch plans of main building(s) reflecting overall dimensions of:a. Typical floor plan(s) showing apartment types and placementb. Ground floor plan(s) showing common areas;c. Sketch floor plan(s) of typical dwelling unit(s);d. Typical wall section(s) showing footing, foundation, wall and floor structure. Notes must indicate basic materials in structure, floor and exterior finish.

In addition: required documentation for rehabilitation properties

A unit-by-unit work write-up.

Plans and specifications/unit-by-unit work writeup attached (TAB P) or Plans and specifications/unit-by-unit work writeup submitted separately

2009 Page 13


VII. OPERATING BUDGET

A. Rental Assistance1. Do or will any low-income units receive rental assistance?

Yes No2. If yes, indicate type of rental assistance:

Section 8 New Construction Substantial Rehabilitation Section 8 Moderate Rehabilitation Section 8 Certificates Section 8 Project Based Assistance RD 515 Rental Assistance Section 8 Vouchers State Assistance Other:

3. Number of units receiving assistance: 40Number of years in rental assistance contract: 1Expiration date of contract: 02/01/10

Contract or other agreement attached (TAB Q)

B. Utilities1. Monthly Utility Allowance Calculations

Utilities Type of Utility Utilities Enter Allowances by Bedroom Size(Gas, Electric, Oil, etc.) Paid by: 0-bdr 1-bdr 2-bdr 3-bdr 4-br

Heating Natural Gas Owner xxx Tenant 0 37 40 44 0

Air Conditioning Electric Owner xxx Tenant 0 6 9 12 0

Cooking Natural Gas Owner xxx Tenant 0 9 11 13 0

Lighting Electric Owner xxx Tenant 0 38 46 54 0

Hot Water Natural Gas with Solar Thermal System xxx Owner Tenant 0 0 0 0 0

Water xxx Owner Tenant 0 0 0 0 0

Sewer xxx Owner Tenant 0 0 0 0 0

Trash xxx Owner Tenant 0 0 0 0 0

Total utility allowance for costs paid by tenant $0 $90 $106 $123 $0

2. Source of Utility Allowance Calculation (Attach Documentation TAB Q)

HUD

Utility Company (Estimate) Local PHA

Utility Company (Actual Survey) Other:

2009 Page 14


C. Revenue1. Indicate the estimated monthly income for the Low-Income Units: **

Total Number of Total MonthlyTax Credit Units Rental Income

0 $034 $27,56277 $67,69734 $32,7920 $0

145

Plus Other Income Source (list): Laundry, tenant charges $2,280Equals Total Monthly Income: $130,331Twelve Months x12Equals Annual Gross Potential Income $1,563,977Less Vacancy Allowance ( 7.0% ) $109,478Equals Annual Effective Gross Income (EGI) - Low Income Units $1,454,499

** Beginning at Row 75 enter the appropriate data for both tax credit and market rate units in the yellow shaded cells.

2. Indicate the estimated monthly income for the Market Rate Units: **Total Number of Total Monthly

Market Units Rental Income0 $014 $10,40231 $27,00114 $13,2160 $0

Total Number of Market Units 59

Plus Other Income Source (list): Laundry, tenant charges $928Equals Total Monthly Income: $51,547Twelve Months x12Equals Annual Gross Potential Income $618,563Less Vacancy Allowance ( 7.0% ) $43,299Equals Annual Effective Gross Income (EGI) - Market Rate Units $575,263

Documentation in Support of Operating Budget attached (TAB R)

List number of units by type: TOTAL UNITS

ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR

0 0 0 0 0 48

2 BD RM-GAR 3 BD RM-GAR 4 BD RM-GAR 2 BD RM-TH 3 BD RM-TH 4 BD RM-TH

108 48 0 0 0 0

1 STY-EFF-ELD 1 STY-1 BR-ELD 1 STY-2 BR-ELD Note: Please be sure to enter the number of units in the0 0 0 appropriate unit category. If not, you will find an error on

the scoresheet at 5a, 6a & 6b.List number of units by type: TAX CREDIT UNITS

ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR

0 0 0 0 0 34

2 BD RM-GAR 3 BD RM-GAR 4 BD RM-GAR 2 BD RM-TH 3 BD RM-TH 4 BD RM-TH

77 34 0 0 0 0

1 STY-EFF-ELD 1 STY-1 BR-ELD 1 STY-2 BR-ELD

0 0 0

Efficiency UnitsUnit Type / Net Rentable Monthly Rent Total

Rent Targeting Number Units Square Feet Per Unit Monthly Rent

Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$

Efficiency Units

4 Bedroom Units

Unit Type

Unit Type

1 Bedroom Units2 Bedroom Units3 Bedroom Units

Total Number of Tax Credit Units

Efficiency Units

4 Bedroom Units

1 Bedroom Units2 Bedroom Units3 Bedroom Units

2009 Page 15

Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$ Efficiency - 40% 0 0.00 -$ -$

Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$ Efficiency - 50% 0 0.00 -$ -$

Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Efficiency - 60% 0 0.00 -$ -$ Total Efficiency Total Monthly Eff.

Tax Credit Units: 0 0.00 Tax Credit Rent: -$

Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$ Efficiency - Market 0 0.00 -$ -$

Total EfficiencyMarket Units: 0 0.00 Total Monthly

Eff. Market Rent: -$

Total Eff. Units: 0 Total Eff. Rent -$

1-Bedroom UnitsNet Rentable Monthly Rent Total


1 BR - 40% 0 0.00 -$ -$ 2009 Page 15

1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$ 1 BR - 40% 0 0.00 -$ -$

1 BR - 50% 9 595.00 743$ 6,687$ 1 BR - 50% 25 595.00 835$ 20,875$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$ 1 BR - 50% 0 0.00 -$ -$

1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ 1 BR - 60% 0 0.00 -$ -$ Total 1-BR Total Monthly 1-BR

Tax Credit Units: 34 20,230.00 Tax Credit Rent: 27,562$

1 BR - Market 14 595 743 10,402$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$ 1 BR - Market 0 0.00 -$ -$

Total 1-BRMarket Units: 14 8,330.00 Total Monthly

1-BR Market Rent: 10,402$

Total 1-BR Units: 48 Total 1-BR Rent 37,964$

2009 Page 15



2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$ 2 BR - 40% 0 0.00 -$ -$

2 BR - 50% 70 730.00 871$ 60,970$ 2 BR - 50% 7 730.00 961$ 6,727$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$ 2 BR - 50% 0 0.00 -$ -$



2 BR - Market 31 730 871$ 27,001$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2 BR - Market 0 0.00 -$ -$ 2009 Page 15







3 BR - 50% 26 832.00 944$ 24,544$ 3 BR - 50% 8 832.00 1,031$ 8,248$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$ 3 BR - 50% 0 0.00 -$ -$



3 BR - Market 14 832 944 13,216$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$

2009 Page 15

3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$ 3 BR - Market 0 0.00 -$ -$









Tax Credit Units: 0 0.00 Tax Credit Rent: -$ 2009 Page 15

4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$ 4 BR - Market 0 0.00 -$ -$

Total 4-BRMarket Units: 0 0.00 Total Monthly

4-BR Market Rent: -$

Total 4-BR Units: 0 Total 4-BR Rent -$

Total Units 204 Net Rentable SF: TC Units 104,728.00MKT Units 42,608.00

Total NR SF: 147,336.00

71.0811%Floor Space Fraction

2009 Page 15


D. Operating ExpensesAdministrative:

1. Advertising/Marketing $8,2002. Office Salaries $25,1003. Office Supplies $6,5004. Office/Model Apartment (type______) $05. Management Fee $99,863

4.92% of EGI 489.5245098 Per Unit6. Manager Salaries $44,5007. Staff Unit (s) (type______) $21,7808. Legal $10,0009. Auditing $10,000

10. Bookkeeping/Accounting Fees $17,50011. Telephone & Answering Service $9,00012. Tax Credit Monitoring Fee $3,62513. Miscellaneous Administrative $235,805

Total Administrative $491,873Utilities

14. Fuel Oil $015. Electricity $55,00016. Water $65,00017. Gas $30,60018. Sewer $0

Total Utility $150,600Operating:

19. Janitor/Cleaning Payroll $27,00020. Janitor/Cleaning Supplies $021. Janitor/Cleaning Contract $22,00022. Exterminating $5,50023. Trash Removal $22,00024. Security Payroll/Contract $025. Grounds Payroll $026. Grounds Supplies $027. Grounds Contract $22,00028. Maintenance/Repairs Payroll $110,00029. Repairs/Material $28,00030. Repairs Contract $25,00031. Elevator Maintenance/Contract $032. Heating/Cooling Repairs & Maintenance $10,00033. Pool Maintenance/Contract/Staff $034. Snow Removal $4,00035. Decorating/Payroll/Contract $036. Decorating Supplies $037. Miscellaneous $0

Operating & Maintenance Totals $275,500Taxes & Insurance

38. Real Estate Taxes $75,00039. Payroll Taxes $20,00040. Miscellaneous Taxes/Licenses/Permits $5,00041. Property & Liability Insurance $52,00042. Fidelity Bond $043. Workman's Compensation $7,00044. Health Insurance & Employee Benefits $48,00045. Other Insurance $0

Total Taxes & Insurance $207,0006544

Total Operating Expense $1,124,973

D1. Total Oper. Ex. Per Unit $5,515 D2. Total Oper. Ex. As % EGI (from E3) 55.42%

Replacement Reserves (Total # Units X $300 or $250 New Const. Elderly Minimum) $81,600

Total Expenses $1,206,573

2009 Page 16


E. Cash Flow (First Year)1. Annual EGI Low-Income Units from (C1) $1,454,499

2. Annual EGI Market Units (from C2) + $575,263

3. Total Effective Gross Income = $2,029,762

4. Total Expenses (from D) $1,206,573

5. Net Operating Income = $823,189

6. Total Annual Debt Service (from Page 21 B2) - $715,817

7. Cash Flow Available for Distribution = $107,373

F. Projections for Financial Feasibility - 15 Year Projections of Cash Flow

StabilizedYear 1 Year 2 Year 3 Year 4 Year 5

Eff. Gross Income 2,029,762 2,090,655 2,153,375 2,217,976 2,284,515Less Oper. Expenses 1,206,573 1,254,836 1,305,029 1,357,231 1,411,520Net Income 823,189 835,819 848,345 860,745 872,995Less Debt Service 715,817 715,817 715,817 715,817 715,817Cash Flow 107,373 120,002 132,529 144,929 157,179Debt Coverage Ratio 1.15 1.17 1.19 1.20 1.22

Year 6 Year 7 Year 8 Year 9 Year 10Eff. Gross Income 2,353,051 2,423,642 2,496,351 2,571,242 2,648,379Less Oper. Expenses 1,467,981 1,526,700 1,587,768 1,651,278 1,717,330Net Income 885,070 896,942 908,584 919,964 931,050Less Debt Service 715,817 715,817 715,817 715,817 715,817Cash Flow 169,253 181,126 192,767 204,147 215,233Debt Coverage Ratio 1.24 1.25 1.27 1.29 1.30

Year 11 Year 12 Year 13 Year 14 Year 15Eff. Gross Income 2,727,831 2,809,666 2,893,956 2,980,774 3,070,197Less Oper. Expenses 1,786,023 1,857,464 1,931,762 2,009,033 2,089,394Net Income 941,808 952,202 962,193 971,741 980,803Less Debt Service 715,817 715,817 715,817 715,817 715,817Cash Flow 225,991 236,385 246,377 255,925 264,987Debt Coverage Ratio 1.32 1.33 1.34 1.36 1.37Estimated Annual Percentage Increase in Revenue 3.00% (Must be < 3%)Estimated Annual Percentage Increase in Expenses 4.00% (Must be > 4%)

2009 Page 17


VIII. PROJECT BUDGET

A. Cost/Basis/Maximum Allowable Credit

Complete cost column and basis column(s) as appropriate through A12. Check if the following documentation is attached at TAB S:

Executed Construction ContractExecuted Trade Payment BreakdownAppraisalOther Cost DocumentationEnvironmental Studies

Amount of Cost up to 100% Includable inEligible Basis--Use Applicable Column(s):

"30% Present Value Credit" (D)Item (A) Cost (B) Acquisition (C) Rehab/ "70 % Present

New Construction Value Credit"

1. Contractor Cost

A. Off-Site Improvements 0 0 0 0B. Site Work 0 0 0 0C. Other: Solar Hot Water 425,000 0 0 361,250D. Unit Structures (New) 0 0 0 0E. Unit Structures (Rehab) 7,405,390 0 0 7,405,390F. Accessory Building (s) 0 0 0 0G. Asbestos Removal 0 0 0 0H. Demolition 0 0 0 0I. Commercial Space Costs 0 0 0 0J. Structured Parking Garage 0 0 0 0K. Subtotal A: (Sum 1A..1J) 7,830,390 0 0 7,766,640L. General Requirements 500,000 0 0 500,000M. Builder's Overhead 147,764 0 0 147,764

( 1.9% Contract)N. Builder's Profit 369,410 0 0 369,410

( 4.7% Contract)O. Bonding Fee 0 0 0 0P. Other: 0 0 0 0Q. Contractor Cost

Subtotal (Sum 1K..1P) $8,847,564 $0 $0 $8,783,814

2. Owner CostsA. Building Permit 25,000 0 0 25,000B. Arch./Engin. Design Fee 333,243 0 0 333,243

( 1,634 /Unit)C. Arch. Supervision Fee 148,108 0 0 148,108

( 726 /Unit)D. Tap Fees 0 0 0 0E. Soil Borings 0 0

NOTE: Attorney must opine, among other things, as to correctness of the inclusion of each cost item in eligible basis, typeof credit and numerical calculations of this Part VIII.

2009 Page 18




New Construction Value Credit"2. Owner Costs Continued

F. Construction Loan 131,588 0 0 6,579

Origination FeeG. Construction Interest 206,475 0 0 40,648

( 0.0% for 0 months)H. Taxes During Construction 75,000 0 0 0I. Insurance During Construction 100,000 0 0 0J. Cost Certification Fee 20,000 0 0 20,000K. Title and Recording 25,071 0 0 7,521L. Legal Fees for Closing 315,000 0 0 88,611M. Permanent Loan Fee 131,588 0 0 0

( 1.0% )N. Other Permanent Loan Fees 0 0 0 0O. Credit Enhancement 0 0 0 0P. Mortgage Banker 0 0 0 0Q. Environmental Study 25,000 0 0 25,000R. Structural/Mechanical Study 0 0 0 0S. Appraisal Fee 10,000 0 0 10,000T. Market Study 12,500 0 0 12,500U. Operating Reserve 562,487 0 0 0V. Tax Credit Fee 71,800 0 0 0W. OTHER $3,473,438 $0 $0 $1,882,939

(SEE PAGE 19A)X. Owner Cost

Subtotal (Sum 2A..2W) $5,666,296 $0 $0 $2,600,148

Subtotal 1 + 2 $14,513,860 $0 $0 $11,383,962(Owner + Contractor Costs)

3. Developer's Fees 2,845,991 0 0 2,845,991

4. Owner's Acquisition CostsLand 1,527,877Existing Improvements 4,583,631 4,583,631Subtotal 4: $6,111,508 $4,583,631

5. Total Development CostsSubtotal 1+2+3+4: $23,471,359 $4,583,631 $0 $14,229,953

If this application seeks rehab credits only, in which there is no acquisition and no change in ownership, enter the greater of appraised value or tax assessment value here: $0 Land

(Attach documentation at Tab K) $0 Building

2009 Page 19




New Construction Value Credit"W. OTHER OWNER COSTS

Contingency Reserve 1,105,946 0 0 1,105,946(Rehab or Adaptive Reuse only)LIST ADDITIONAL ITEMSPartnership Costs 89,250 0 0 0Rent Transition Reserve 908,675 0 0 0Replacement Reserve 204,000 0 0 0Relocation 408,000 0 0 408,000Owner's Rep 104,000 0 0 104,000FF+E 100,000 0 0 100,000Soft Cost Contingency 123,968 0 0 35,393Misc. Professional Fees 29,600 0 0 29,600EarthCraft / Green Building 100,000 0 0 100,000Community Programs Reserve 300,000 0 0 0

0 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 0

Subtotal (Other Owner Costs) $3,473,438 $0 $0 $1,882,939

2009 Page 19A



"30 % Present Value Credit"(C) Rehab/ (D)

New "70 % PresentItem (A) Cost (B) Acquisition Construction Value Credit"

5. Total Development Costs Subtotal 1+2+3+4 23,471,359 4,583,631 0 14,229,953

6. Reductions in Eligible Basis

Subtract the following:A. Amount of federal grant(s) used to finance 0 0 63,750

qualifying development costs

B. Amount of nonqualified, nonrecourse financing 0 0 0

C. Costs of nonqualifying units of higher quality 0 0 0 (or excess portion thereof)

D. Historic Tax Credit (residential portion) 0 0 0

7. Total Eligible Basis (5 minus 6 above) 4,583,631 0 14,166,203

8. Adjustment(s) to Eligible Basis (For non-acquisition costs in eligible basis)

(i) For Earthcraft or LEED Certification AND 60 Bonus Points 0 0(ii) For QCT or DDA (Eligible Basis x 30%) 0 0

Total Adjusted Eligible basis 0 14,166,203

9. Applicable Fraction 71.0784% 71.0784% 71.0784%

10. Total Qualified Basis (Same as Part IX-C) 3,257,973 0 10,069,115(Eligible Basis x Applicable Fraction)

11. Applicable Percentage 3.28% 0.00% 9.00%(For 2009 9% competitive credits, use the May 2009 applicable percentages for acq.)

(For 9% non-competitive & tax exempt bonds, use the most recently published rates)

12. Maximum Allowable Credit under IRC §42 $106,862 $0 $906,220(Qualified Basis x Applicable Percentage)(Same as Part IX-C and equal to or more than $1,013,082credit amount requested) Combined 30% & 70% P. V. Credit

2009 Page 20


B. Sources of Funds

1. Construction Financing: List individually the sources of construction financing, including any suchloans financed through grant sources:

Date of Date of Amount of

Source of Funds Application Commitment Funds Name of Contact Person

1. Conventional Loan 07/01/09 $8,772,500 Priya Jayachandran - Bank of America

2. $0

3. $0

Commitments or letter(s) of intent attached (TAB T)

2. Permanent Financing: List individually the sources of all permanent financing in order of lien position:

Interest Amortization TermDate of Date of Amount of Annual Debt Rate of Period of

Source of Funds Application Commitment Funds Service Cost Loan IN YEARS Loan (years)

1. Conventional Mortgage 07/01/09 $8,129,500 $715,817 8.00% 30 30

2. IRP Mortgage 07/01/09 $643,000 $0 8.00% 5 5

3. Seller Note n/a $4,902,632 $0 4.00% 1000 0

4. $0 $0 0.00% 1000 0

5. $0 $0 0.00% 1000 0

6. $0 $0 0.00% 1000 0

Totals: $13,675,132 $715,817


3. Grants: List all grants provided for the development:

Date of Date of Amount of

Source of Funds Application Commitment Funds Name of Contact Person

1. Renewable Energy Grant 09/01/09 $127,500

2. $0

3. $0

4. $0

5. $0

6. TCAP N/A N/A $0

Total Permanent Grants: $127,500


2009 Page 21


4. Portion of Syndication Proceeds Attributable to Historic Tax CreditAmount of Federal historic credits $0 x Equity % $0.00 $0Amount of Virginia historic credits $0 x Equity % $0.00 $0

6. Equity that Sponsor will Fund:Cash Investment $1,400,000Contributed Land/Building $0 Assessment Attached (TAB S)Deferred Developer Fee $772,670Other:

Equity Total $2,172,6707. Total of All Sources (B2 + B3 + B4 + B5 + B6) $15,975,302

(not including syndication proceeds except for historic tax credits)

8. Total Development Cost $23,471,359(From VIII-A5)

9. Less Total Sources of Funds (From B7 above) $15,975,302

10. Equals equity gap to be funded with low-income tax credit proceeds (must equal IX-D3) $7,496,056

C. Syndication Information (If Applicable)

1. Actual or Anticipated Name of Syndicator To Be Determined2. Contact Person Phone3. Street Address

City State Zip

4. a. Total to be paid by anticipated users of credit (e.g., limited partners) $7,496,056b. Equity Dollars Per Credit (e.g., $0.85 per dollar of credit) $0.74c. Percent of ownership entity (e.g., 99% or 99.9%) 99.99%d. Net credit amount anticipated by user of credits $1,012,981e. Syndication costs not included in VIII-A5 (e.g., advisory fees) $0

5. Net amount which will be used to pay for Total Development Cost (4a-4e)as listed in Part VIII-A5 (same amount as Part IX-D3) $7,496,056

6. Amount of annual credit required for above amounts(same amount as Part IX-D6) $1,013,082

7. Net Equity Factor [C5 / (C6 X 10)] (same amount as Part IX-D4) Must be equal to or greater than 85% 73.99%

8. Syndication: Public or Private

9. Investors: Individual or Corporate

Syndication commitment or letter of intent attached (TAB U)

2009 Page 22


D. Recap of Federal, State, and Local Funds/Any Credit Enhancements

1. Are any portions of the sources of funds described above for the development financed directly or indirectly with Federal, State, or Local Government Funds? Yes NoIf yes, then check the type and list the amount of money involved.

Below-Market Loans Market-Rate Loans

Tax Exempt Bonds $0 Taxable Bonds $0RD 515 $0 Section 220 $0Section 221(d)(3) $0 Section 221(d)(3) $0Section 312 $0 Section 221(d)(4) $0Section 236 $0 Section 236 $643,000VHDA SPARC/REACH $0 Section 223(f) $0HOME Funds $0 Other: $8,772,500Other: $0Other: $0

Grants GrantsCDBG $0 State $0UDAG $0 Local

Other: TCAP $0

This means grants to the partnership. If you received a loan financed by a locality which received one of thelisted grants, please list it in the appropriate loan column as "other" and describe the applicable grant programwhich funded it.

2. Subsidized funding: list all sources of funding for points. Documentation Attached (TAB T)

Source of Funds Commitment date Funds1. $02. $03. $04. $05. $0

3. Does any of your financing have any credit enhancement? Yes No

If yes, list which financing and describe the credit enhancement:

4. Other Subsidies Documentation Attached (TAB Q)Section 8 Rent Supplement or Rental Assistance PaymentTax AbatementOther

5. Is HUD approval for transfer of physical asset required? Yes No

E. For Transactions Using Tax-Exempt Bonds Seeking 4% Credits:For purposes of the 50% Test, and based only on the data entered to thisapplication, the portion of the aggregate basis of buildings and land financed withtax-exempt funds is: N/A

2009 Page 23


IX. ADDITIONAL INFORMATION

A. Extended Use Restriction

This development will be subject to the standard extended use agreement which permits early termination (after the mandatory 15-year compliance period) of the extended use period. This development will be subject to an extended use agreement in which the owner's right to anyearly termination of the extended use provision is waived for 25 additional years after the 15-year compliance period for a total of 40 years. Do not select if IX.B is checked below.

This development will be subject to an extended use agreement in which the owner's right to any early termination of the extended use provision is waived for 35 additional years after the 15-year compliance period for a total of 50 years. Do not select if IX.B is checked below.

B. Nonprofit/Local Housing Authority Purchase Option/Right of First Refusal

1. After the mandatory 15-year compliance period, a qualified nonprofit as identified in the attached nonprofit questionnaire, or local housing authority will have the option to purchase or the right of first refusal to acquire the development for a price not to exceed the outstanding debt and exit taxes. Such debt must be limited to the original mortgage(s) unless any refinancingis approved by the nonprofit. Do not select if extended compliance is selected in IX.A above.

Option or Right of First Refusal in Recordable Form Attached (TAB V)Enter name of qualified nonprofit: Community Housing, Inc.

2. A qualified nonprofit or local housing authority submits a homeownership plan committing to sell the units in the development after the mandatory 15-year compliance period to tenants whoseincomes shall not exceed the applicable income limit at the time of their initial occupancy.Do not select if extended compliance is selected in IX.A above.

Homeownership Plan Attached (TAB J)

C. Building-by-Building Information (Complete page 25 as appropriate)

NOTE: Each recipient of an allocation of credits will be required to record an extended use agreement as required by theIRC governing the use of the development for low-income housing for at least 30 years. However, the IRC providesthat, in certain circumstances, such extended use period may be terminated early.

2009 Page 24


C. Building-by-Building Information Must CompleteQualified basis must be determined on a building-by building basis. Complete the section below. Building street addresses are required by the IRS (must have them by the time of allocation request).

30% Present Value 30% Present ValueCredit for Acquisition Credit for Construction 70% Present Value Credit

TAX MARKETCREDIT RATE Actual or Actual or Actual orUNITS UNITS Estimate Anticipated Estimate Anticipated Estimate Anticipated

Build Street Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit Qualified In-Service Applicable Crediting # Address Basis Date Percentage Amount Basis Date Percentage Amount Basis Date Percentage Amount

1. 17 7 3606-3608 Buckman Road $381,969 3.28% 12,529 $0 0.00% 0 $1,185,829 9.00% 106,7252. 25 11 3600-3604 Buckman Road $561,719 3.28% 18,424 $0 0.00% 0 $1,743,867 9.00% 156,9483. 35 13 3508-3514 Buckman Road $786,407 3.28% 25,794 $0 0.00% 0 $2,441,414 9.00% 219,7274. 35 13 3500-3506 Buckman Road $786,407 3.28% 25,794 $0 0.00% 0 $2,441,414 9.00% 219,7275. 33 15 3420-3426 Buckman Road $741,470 3.28% 24,320 $0 0.00% 0 $2,301,904 9.00% 207,1716. $0 0.00% 0 $0 0.00% 0 $0 0.00% 07. $0 0.00% 0 $0 0.00% 0 $0 0.00% 08. $0 0.00% 0 $0 0.00% 0 $0 0.00% 09. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0

10. $0 0.00% 0 $0 0.00% 0 $0 0.00% 011. $0 0.00% 0 $0 0.00% 0 $0 0.00% 012. $0 0.00% 0 $0 0.00% 0 $0 0.00% 013. $0 0.00% 0 $0 0.00% 0 $0 0.00% 014. $0 0.00% 0 $0 0.00% 0 $0 0.00% 015. $0 0.00% 0 $0 0.00% 0 $0 0.00% 016. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0

$3,257,973 $0 $10,114,428

$106,862 $0 $910,298Qualified Basis Totals (must agree with VIII-A10)

Credit Amount Totals (must agree with VIII-A-12)

NUMBEROF

2009 Page 25


D. Determination of Reservation Amount Needed

1. Total Development Costs (from VIII-A5, Column A page 20) $23,471,359

2. Less Total Sources of Funds (from VIII-B7 page 22) $15,975,302

3. Equals Equity Gap $7,496,056

4. Divided by Net Equity Factor (VIII-C7 page 22) 73.99%(Percent of 10-year credit expected to be raised as equity investment)

5. Equals Ten-Year Credit Amount Needed to Fund Gap $10,130,819

Divided by ten years 10

6. Equals Annual Tax Credit Required to Fund the Equity Gap $1,013,082

7. The Maximum Allowable Credit Amount $1,013,082(from VIII-A12-combined figure)

(This amount must be equal to or more than 6 above)

8. Reservation Amount (Lesser of 6 or 7 above)

Credit per Unit 6,987 Combined 30% & 70% PV Credit

Credit per Bedroom 3,493 $1,013,082Comprised of

$106,862 and $906,220 30% PV Credit 70% PV Credit

(Based on same relative percentages as VIII-A12)

E. Attorney’s OpinionAttached in Mandatory TAB W)

The following calculation of the amount of credits needed is substantially the same as the calculation which will be made by VHDA todetermine, as required by the IRC, the amount of credits which may be allocated for the development. However, VHDA at all times retains theright to substitute such information and assumptions as are determined by VHDA to be reasonable for the information and assumptionsprovided herein as to costs (including development fees, profits, etc.), sources for funding, expected equity, etc. Accordingly, if thedevelopment is selected by VHDA for a reservation of credits, the amount of such reservation may differ significantly from the amount youcompute below.

Goal Seek Function If you incur the error message that your reservation amount is not equal to the equity gap amount you may use the goal seek function within the Excelspreadsheet to eliminate the error message. To use the “Goal Seek” function firstplace the curser box on cell V28. Using the mouse arrow, point and click on“Tools” on the top line and then click on the “Goal Seek” option. A box willappear with the V28 cell shown in the top space, place the cursor in the middlebox and type in the new amount that you want the equity gap to be which should be the reservation amount below, then place the cursor in the bottom space and atthe bottom of the page click on page 22. Then place the cursor on cell N15(Deferred Developer Fee) and click on “OK”. A message should then appear that a solution has been found and if the amount is correct click “OK”. If the amountsare now equal the error message will disappear.

2009 Page 26


F. Statement of Owner

The undersigned hereby acknowledges the following:

1. that, to the best of its knowledge and belief, all factual information provided herein or in connection herewith is true and correct, and all estimates are reasonable.

2. that it will at all times indemnify and hold harmless VHDA and its assigns against all losses, costs,damages, VHDA's expenses, and liabilities of any nature directly or indirectly resulting from, arising out of, or relating to VHDA's acceptance, consideration, approval, or disapproval of this reservation request andthe issuance or nonissuance of an allocation of credits, grants and/or loan funds in connection herewith.

3. that points will be assigned only for representations made herein for which satisfactory documentation is submitted herewith and that no revised representations may be made in connection with this application once the deadline for applications has passed.

4. that this application form, provided by VHDA to applicants for tax credits, including all sections herein relative to basis, credit calculations, and determination of the amount of the credit necessary to make the development financially feasible, is provided only for the convenience of VHDA in reviewing reservationrequests; that completion hereof in no way guarantees eligibility for the credits or ensures that the amountof credits applied for has been computed in accordance with IRC requirements; and that any notationsherein describing IRC requirements are offered only as general guides and not as legal authority.

5. that the undersigned is responsible for ensuring that the proposed development will be comprised of qualified low-income buildings and that it will in all respects satisfy all applicable requirements of federaltax law and any other requirements imposed upon it by VHDA prior to allocation, should one be issued.

6. that, for the purposes of reviewing this application, VHDA is entitled to rely upon representations of the undersigned as to the inclusion of costs in eligible basis and as to all of the figures and calculations relativeto the determination of qualified basis for the development as a whole and/or each building therein individually as well as the amounts and types of credit applicable thereof, but that the issuance of a reservation based on such representation in no way warrants their correctness or compliance with IRCrequirements.

7. that VHDA may request or require changes in the information submitted herewith, may substitute its ownfigures which it deems reasonable for any or all figures provided herein by the undersigned and may reserve credits, if any, in an amount significantly different from the amount requested.

8. that reservations of credits are not transferable without prior written approval by VHDA at its sole discretion.

2009 Page 27

MANDATORY ITEMS: Score a. Signed, completed application Y Y or N 0 b. Duplicate copy of application Y Y or N 0 c. Partnership agreement Y Y or N 0 d. SCC Certification Y Y or N 0 e. Previous participation form Y Y or N 0 f. Site control document Y Y or N 0 g. Architect's Certification Y Y or N 0 h. Attorney's opinion Y Y or N 0 i. Nonprofit questionnaire (if NP) Y Y, N, N/A 0

0.001. READINESS: a. Plan of development N 0 or 40 0.00 b. Zoning approval Y 0 or 40 40.00

Total: 40.00

2. HOUSING NEEDS CHARACTERISTICS: a. VHDA notification letter to CEO Y 0 or -50 0.00 b. Local CEO letter (Y,NC,N) Y 0 or 25 or 50 50.00 c. Location in a revitalization area N 0 or 30 0.00 d. Location in a Qualified Census Tract N 0 or 5 0.00 e. Sec 8 or PHA waiting list preference Y 0 or 10 10.00 f. Subsidized funding commitments 0.00% Up to 40 0.00 g. Existing RD, HUD Section 8 or 236 program Y 0 or 20 20.00 h. Tax abatement or new project based rental subsidy (HUD or RD) Y 0 or 10 10.00 i. Census tract with <10% poverty rate, no tax credit units N 0 or 25 0.00 j. Development listed on the Rural Development Rehab Priority List N 0 or 15 0.00

Total 90.00

3. DEVELOPMENT CHARACTERISTICS: a. Unit size (See calculations below) Up to 100 94.23 b. Amenities (See calculations below) Up to 60 54.00 c. Project subsidies/HUD 504 accessibility for 5 or 10% of units N 0 or 50 0.00or d. HCV payment standard/HUD 504 accessibility for 5 or 10% of units N 0 or 30 0.00or e. HUD 504 accessibility for 4% of units Y 0 or 15 15.00 f. Proximity to public transportation Y20 0, 10 or 20 20.00 g. Development will be Earthcraft or LEED certified Y 0 or 30 30.00 h. VHDA Certified Property Management Agent Y 0 or 25 25.00 i. Units constructed to meet VHDA's Universal Design standards 1% Up to 15 0.15 j. Developments with less than 100 units Up to 20 0.00

Total 238.37

4. TENANT POPULATION CHARACTERISTICS: a. <= 20% of units having 1 or less bedrooms N 0 or 15 0.00 b. Percent of units with 3 or more bedrooms 23.45% Up to 15 15.00

Total 15.00

5. SPONSOR CHARACTERISTICS: a. Developer experience - 3 developments with 3 x units or 6 developments with 1 x units Y 0 or 50 50.00or b. Developer experience - 1 development with 1 x units N 0 or 10 0.00 c. Developer experience - uncorrected major violation N 0 or -50 0.00 d. Developer experience - noncompliance Enter Total Negative N 0 or -15 0.00 e1. Developer experience - did not build as represented Points Here: 0 0 or -x 0.00 e2. Developer experience - termination of credits by VHDA N 0 or -10 0.00 f. Management company rated unsatisfactory N 0 or -25 0.00 g. LEED accredited design team member Y 0 or 10 10.00

Total 60.00

6. EFFICIENT USE OF RESOURCES: a. Credit per unit If #N/A or #REF! appears in the score column of these point Up to 180 95.97 b. Cost per unit categories check spelling of Clerk's Office on pg 1. It must match Up to 75 37.64

2009 LIHTC SELF SCORE SHEET:

Self Scoring Process

This worksheet is intended to provide you with an estimate of your application score based on the selection criteria described in theQAP. Most of the data used in the scoring process is automatically entered below as you fill in the application. Other items,denoted below in the green shaded cells, are items that are typically evaluated by VHDA’s staff during the application review andfeasibility analysis. For purposes of self scoring, it will be necessary for you to make certain decisions and assumptions about yourapplication and enter the appropriate responses in the green shaded cells of this score sheet. All but two require yes/no responses,in which case enter Y or N as appropriate. Item 2b pertaining to the Local CEO Letter will require one of the following responses: Y– the letter indicates unconditional support; N – the letter indicates opposition to the project; NC – no comment from the locality, orany other response which is neither unconditional support nor opposition. Item 5e1 requires a numeric value to be entered. Pleaseremember that the score is only an estimate based on the selection criteria using the reservation application data and theresponses you’ve entered on this score sheet. VHDA reserves the right to change application data and/or score sheet responseswhere appropriate, which may change the final score.

2009

Total exactly with the Jurisdiction names listed in the Application Manual. 133.60

7. BONUS POINTS: Locality AMI State AMI a. Units with rents at or below 40% of AMI $99,000 $50,600 0% Up to 10 0.00 b. Units with rent and income at or below 50% of AMI 100% Up to 50 50.00or c. Units with rents at or below 50% rented to tenants at or below 60% of AMI 100% Up to 25 0.00or d. Units in Low Income Jurisdictions with rents <= 50% rented to tenants with <= 60% of AMI 100% Up to 50 0.00 e. Extended compliance 0 Years 40 or 50 0.00or f. Nonprofit or LHA purchase option Y 0 or 60 60.00or g. Nonprofit or LHA Home Ownership option N 0 or 5 0.00

Total 110.00

500 Point Threshold - 9% Credits TOTAL SCORE: 686.98475 Point Threshold - Tax Exempt Bond Credits

Unit Size Calculations:E-AS LVG E-EFF E-1 BDRM E-2 BDRM

High Sq.Ft. / BDRM 0 0 0 0 Low Sq.Ft. / BDRM 0 0 0 0 Project Sq.Ft. / BDRM 0 0 0 0 Percentage of Units 0.00% 0.00% 0.00% 0.00% Points per Bedroom 0.00 0.00 0.00 0.00

F-EFF-G F-1 BDRM-G F-2 BDRM-G F-3 BDRM-G High Sq.Ft. / BDRM 0 625 900 1,000 Low Sq.Ft. / BDRM 0 500 675 800 Project Sq.Ft. / BDRM 0 706 875 1,050 Percentage of Units 0.00% 23.53% 52.94% 23.53% Points per Bedroom 0.00 23.53 47.17 23.53

F-4 BDRM-G F-2 BDRM-TH F-3 BDRM-TH F-4 BDRM-TH High Sq.Ft. / BDRM 0 0 0 0 Low Sq.Ft. / BDRM 0 0 0 0 Project Sq.Ft. / BDRM 0 0 0 0 Percentage of Units 0.00% 0.00% 0.00% 0.00% Points per Bedroom 0.00 0.00 0.00 0.00

1 ST ELD-EFF 1 ST ELD-1 BDRM 1 ST ELD-2 BDRM If you do not receive a numeric point value High Sq.Ft. / BDRM 0 0 0 in the unit size calculations, please Low Sq.Ft. / BDRM 0 0 0 check the values entered on page 8, C1. Project Sq.Ft. / BDRM 0 0 0 These must be whole number numeric Percentage of Units 0.00% 0.00% 0.00% values only. Also check page 7, item 3, Points per Bedroom 0.00 0.00 0.00 the number of units must be either new,

adapt or rehab only. Combinations do Total Unit Size Points: 94.23 not calculate correctly.

Amenities:All units have:

a. 1.5 or 2 Bathrooms 0.00% 0.00b. Community Room 5.00c. Brick Walls 100.00% 20.00d. Kitchen/Laundry Appl-Energy Star 5.00e. Windows-Energy Star 5.00f. Heat/AC-SEER-AFUE 10.00g. Sub-metered water expense 0.00h. Low flow faucets & showerheads 3.00i. High speed cable, DSL, wireless internet 1.00j. Water heaters meet EPA Energy Star requirements 5.00

Total 54.00All elderly units have:

a. Front-control ranges 0.00b. Emergency call system 0.00c. Independent/suppl. heat source 0.00d. Two eye viewers 0.00

Total 0.00

All rehab or adaptive reuse units:b. Historic structure 0.00

Total amenities: 54.00

2009

$/SF = $119.55 Credits/SF = $7.97 Const $/unit = $43,370

TYPE OF PROJECT FAMILY = 11000; ELDERLY = 12000 11000 If an ERROR message appears here checkLOCATION BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR=600 110 spelling of Clerk's Office on pg 1. It mustTYPE OF CONSTRUCTION N C=1; ADPT=2;REHAB(25,000+)=3; REHAB(15,000-25,000)=4 3 match exactly with the Jurisdiction names

listed in the Application Manual.ELDERLY

AS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 STAVG UNIT SIZE 0 0 0 0 0 0 0NUMBER OF UNITS 0 0 0 0 0 0 0

PARAMETER-(COSTS=>25,000) 0 0 0 0 0 0 0PARAMETER-(COSTS<25,000) 0 0 0 0 0 0 0

COST PARAMETER 0 0 0 0 0 0 0PROJECT COST PER UNIT 0 0 0 0 0 0 0

PARAMETER-(CREDITS=>25,000) 0 0 0 0 0 0 0PARAMETER-(CREDITS<25,000) 0 0 0 0 0 0 0

CREDIT PARAMETER 0 0 0 0 0 0 0PROJECT CREDIT PER UNIT 0 0 0 0 0 0 0

COST PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00CREDIT PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FAMILYEFF-G 1 BR-G 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH

AVG UNIT SIZE 0 706 875 1,050 0 0 0 0NUMBER OF UNITS 0 34 77 34 0 0 0 0

PARAMETER-(COSTS=>25,000) 0 164,703 213,675 249,711 0 0 0 0PARAMETER-(COSTS<25,000) 0 0 0 0 0 0 0 0

COST PARAMETER 0 164,703 213,675 249,711 0 0 0 0PROJECT COST PER UNIT 0 84,446 104,664 125,498 0 0 0 0

PARAMETER-(CREDITS=>25,000) 0 11,716 15,200 17,764 0 0 0 0PARAMETER-(CREDITS<25,000) 0 0 0 0 0 0 0 0

CREDIT PARAMETER 0 11,716 15,200 17,764 0 0 0 0PROJECT CREDIT PER UNIT 0 5,629 6,977 8,366 0 0 0 0

COST PER UNIT POINTS 0.00 8.57 20.32 8.75 0.00 0.00 0.00 0.00CREDIT PER UNIT POINTS 0.00 21.93 51.71 22.33 0.00 0.00 0.00 0.00

TOTAL COST PER UNIT POINTS 37.64

TOTAL CREDIT PER UNIT POINTS 95.97

Cost Parameters - ElderlyAS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 ST

Standard Cost Parameter - low riseParameter Adjustment - mid riseParameter Adjustment - high rise

Adjusted Cost Parameter

Credit Parameters - ElderlyAS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 ST

Standard Credit Parameter - low riseParameter Adjustment - mid riseParameter Adjustment - high rise

Adjusted Credit Parameter

Cost Parameters - FamilyEFF-G 1 BR-G 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH

Standard Parameter - low riseParameter Adjustment - mid riseParameter Adjustment - high rise


Credit Parameters - FamilyEFF-G 1 BR-G 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH



0 0

0 00 0

0

0 0 0 00

0 0 0 0 0

000 0

0

00 0 0 00 0 00

0 0 0 0

0 164,703 213,675 249,711 0 0 0 00 00

00 0 00 0 0 0 0 0 0

0 0

0 164,703 213,675 249,711 0 0 0 0

0

0

0 0

0 00 0 0

0 0 0 00 0 0

0 0 0 00

0 11,716 15,200 17,764 0 0 0 00 0 0 0 0 0 0 00 0 0 0 0 0 0 00 11,716 15,200 17,764 0 0 0 0

2009

$/SF = $119.55 Credits/SF = $7.97 Const $/unit = $43,370

TYPE OF PROJECT FAMILY = 11000; ELDERLY = 12000 11000 If an ERROR message appears here checkLOCATION BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR=600 110 spelling of Clerk's Office on pg 1. It mustTYPE OF CONSTRUCTION N C=1; ADPT=2;REHAB(25,000+)=3; REHAB(10,000-25,000)=4 3 match exactly with the Jurisdiction names

listed in the Application Manual.ELDERLY

AS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 STAVG UNIT SIZE 0 0 0 0 0 0 0NUMBER OF UNITS 0 0 0 0 0 0 0

PARAMETER-(COSTS=>25,000) 0 0 0 0 0 0 0PARAMETER-(COSTS<25,000) 0 0 0 0 0 0 0

COST PARAMETER 0 0 0 0 0 0 0PROJECT COST PER UNIT 0 0 0 0 0 0 0

PARAMETER-(CREDITS=>25,000) 0 0 0 0 0 0 0PARAMETER-(CREDITS<25,000) 0 0 0 0 0 0 0

CREDIT PARAMETER 0 0 0 0 0 0 0PROJECT CREDIT PER UNIT 0 0 0 0 0 0 0

COST PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00CREDIT PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FAMILYEFF-G 1 BR-G 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH

AVG UNIT SIZE 0 706 875 1,050 0 0 0 0NUMBER OF UNITS 0 34 77 34 0 0 0 0

PARAMETER-(COSTS=>25,000) 0 134,757 182,574 204,309 0 0 0 0PARAMETER-(COSTS<25,000) 0 0 0 0 0 0 0 0

COST PARAMETER 0 134,757 182,574 204,309 0 0 0 0PROJECT COST PER UNIT 0 84,446 104,664 125,498 0 0 0 0

PARAMETER-(CREDITS=>25,000) 0 7,175 9,720 10,878 0 0 0 0PARAMETER-(CREDITS<25,000) 0 0 0 0 0 0 0 0

CREDIT PARAMETER 0 7,175 9,720 10,878 0 0 0 0PROJECT CREDIT PER UNIT 0 5,629 6,977 8,366 0 0 0 0

COST PER UNIT POINTS 0.00 6.57 17.00 6.78 0.00 0.00 0.00 0.00CREDIT PER UNIT POINTS 0.00 9.09 26.97 9.75 0.00 0.00 0.00 0.00

TOTAL COST PER UNIT POINTS 30.35

TOTAL CREDIT PER UNIT POINTS 45.81

Cost Parameters - ElderlyAS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 ST

Standard Cost Parameter - low riseParameter Adjustment - mid riseParameter Adjustment - high rise


Credit Parameters - ElderlyAS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 ST



Cost Parameters - FamilyEFF-G 1 BR-G 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH

Standard Parameter - low riseParameter Adjustment - mid riseParameter Adjustment - high rise


Credit Parameters - FamilyEFF-G 1 BR-G 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH


Adjusted Credit Parameter 0 0 0 00 7,175 9,720 10,8780 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 7,175 9,720 10,878

0 0 00 0 0 000 0 0 00

0

0 0

0 00 0 0

0 0 0 00 134,757 182,574 204,309

00 0 0 0 0 0 0

0 0 0 000

0 00 0 0 00 134,757 182,574 204,309

0 0 0 0

0

00 0 0 00 0 00 0

0 0 0 0 0

000 0

0 0 0 0

0 0

0 00 0

0

2009

TAB A (Documentation of Development Location)

Location Map

Address 3426 Buckman RdAlexandria, VA 22309

©2009 Google - Map data ©2009 Tele Atlas - Terms of Use

Page 1 of 13426 Buckman Road, Alexandria, Virginia - Google Maps

5/13/2009http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=3426+Buckman+R...

TAB B

(Partnership or Operating Agreement)

* Community Housing, Inc. (CHI) is a 501(c)(3) non-stock, not-for-profit corporation that is a supporting company to Community Preservation and Development Corporation (CPDC), which is also a 501(c)(3) non-stock, not-for-profit corporation. CHI serves as CPDC’s real estate development arm.

CPDC Buckman Road LLC

(Managing Member - .01% owner)

Buckman Road Development LLC

(Owner)

Community Housing, Inc.*

LIHTC Investor

(Member – 99.99% interest)

Initial Member (99.99% interest)Sole Member

J. Michael Pitchford

President & C.E.O.

Buckman Road Apartments

Organizational Chart

TAB C

(VA SCC Certification)

TAB D

(Principal’s Previous Participation Certification)

Community Housing, Inc. Attachment to Previous Participation Certification The following officers and directors of Community Housing, Inc. and Community Preservation and Development Corporation have no experience as principals of tax-credit developments: J. Michael Pitchford – President and Chief Executive Officer Gerald H. Joseph – Vice President for Real Estate Pamela M. Lyons – Vice President for Community Development Programs Harry Thompson – Treasurer and Chief Financial Officer Linda Cropp – Director Larry Dale – Co-Chair John Dillon – Director Conrad Egan – Director Eugene Ford – Director Barbara Goldman Goldberg – Director John K. McIlwain – Director Shekar Narasimhan - Director Arthur H. White - Director James R. Zabora - Director

TAB E

(Nonprofit Questionnaire)

TAB F

(Architect’s Certification)

Tab G

(Relocation Plan)


Virginia Housing Development Authority

Low Income Housing Tax Credit Multifamily Tenant-In-Place Relocation Plan

Community Housing, Inc. (the Developer) and Edgewood Management Corporation (the Management Company) have developed the following relocation plan for Buckman Road Apartments: The basic strategy of the tenant-in-place relocation plan for Buckman Road Apartments will be to maintain the existing community of residents within the property. To this end, priority consideration will be given to the successful tenant-in-place renovation and retention of existing residents. The substantial portion of the rehabilitation will involve repairs and renovation to the exterior, interior apartments and common areas. These renovations and repairs will not displace families; the apartment renovations and repairs will require residents to temporarily leave their apartment while renovations are being conducted in each apartment home. Construction is expected to take place in each apartment for an estimated 3 weeks; Monday through Friday, from 8:00 a.m. to 4:00 p.m. A survey of each apartment has been conducted to determine the renovations and repairs needed for that unit. Generally, the apartment renovations and repairs will include:

• Replacement of heating & cooling systems • Replacement windows & doors • Kitchen upgrades to include:

o flooring o appliances o kitchen cabinets & countertops

• Electrical upgrades to include: o panels o lighting

• Modernization of bathrooms.

Furthermore, 11 of the 204 apartment homes will be converted into barrier-free apartments. Every effort will be made to facilitate the renovation and repairs with the least amount of disruption to the residents as possible. This tenant-in-place relocation plan, which follows below, indicates the steps that will be taken by the Developer and the Management Company to help ensure a fair and efficient process that accomplishes the renovation as quickly as possible while avoiding negative impacts on resident’s health, safety, convenience and personal property. The plan calls for 12 apartment homes to be renovated during each stage with a total projected rehabilitation period of 16 months. CONTACT INFORMATION Owner: Buckman Road Development, LLC Contact: Paul Browne, Director of Real Estate Development Address: 5513 Connecticut Avenue, NW Suite 250 Washington, DC 20015 Phone: 202-885-9567 Email: [email protected] Developer: Community Housing, Inc. Contact: Paul Browne, Director of Real Estate Development

mailto:[email protected]

Address: 5513 Connecticut Avenue, NW Suite 250 Washington, DC 20015 Phone: 202-884-9567 Email [email protected] Management Agent: Edgewood Management Corporation Contact: John Noel, Senior Vice President Address: 20316 Seneca Meadows Parkway Germantown, MD 20876 Phone: 301-562-1775 Email: [email protected] PRINCIPLES OF THE TENANT-IN-PLACE RELOCATION PLAN Consistent with the Virginia Housing Development Authority relocation assistance requirements, the following principles will govern the development of the plan.

1. The residents of Buckman Road Apartments will not be displaced or relocated. The exception, 11 of the apartment homes have been selected to be rehabilitated to UFAS- compliant standards therefore resulting in the temporary relocation of those 11 apartments within the Buckman Road Apartment community. Most residents will be asked to vacate their units during the day while work is underway in their building. However, those households living in units that are to be converted to barrier free units will be transferred to vacant units within the property in advance of the renovations. There may also be some instances that a household will be relocated to another apartment that better suits their household size and composition, if determined appropriate during the income certification/audit process. Units will be maintained in suitable, decent, safe and sanitary and will be consistent with all applicable legal requirements.

2. The Developer will bear tenant-in-place relocation expenses incurred for the temporary packing

and storage of personal property during the apartment renovations. In an instance that a household is relocated due to ADA renovations or household size all costs will be paid by the developer. Costs to provide assistance for the elderly/disabled will also be paid by the developer.

3. In the course of operation over the 16 months rehabilitation period some attrition in the resident

population is expected. The tenant-in-place renovation plan will be discussed with all Buckman Road residents will prior to the construction inception. If a resident decides to move out of Buckman Road Apartments, the resident must provide notice of move out to the Rental Office, in accordance with the lease terms.

4. Any resident who has special needs (handicap/disabled) will be permanently accommodated in the

newly converted accessible units provided at Buckman Road Apartments to the extent of availability.

5. The Developer and Management Company will assist the established resident council at Buckman

Road Apartments. The resident council will be apprised and will have input into the operation of the tenant-in-place relocation plan, as well as any other Buckman Road Apartment resident programs or requirements. The on-site Relocation Team and Community Manager will facilitate this interaction, in coordination with the Regional Property Manager. We have begun conducting resident meetings to explain the renovation process and will continue to do so.

6. The plan will also include, once the details are more definite and sound, providing the residents

updates and correspondence via community meetings and newsletters.

7. All efforts will be made to protect the safety and all attempts will be made to limit the disruptions of the resident’s normal day to day living.



CONTINGENCY RELOCATION PLAN FOR UNQUALIFIED RESIDENTS The property is governed by a recorded Use Agreement that dates from the previous owner’s acquisition of the property (the LIHPRHA Covenant). Under the LIHPRHA Covenant, 145 of the units (71%) are required to be set aside for households at or below 50% of the Area Median Income, 17 of the units are for households with incomes between 51% and 80% of AMI, and 38 of the units are for households between 81% and 95% of AMI. The remaining four units are considered non-revenue units. The Developer has proposed to finance the renovations in part through Low Income Housing Tax Credits. Only the 145 units at or below 50% AMI will be subject to the LIHTC restrictions. The residents of the LIHTC units will be required to meet IRS -mandated income guidelines –50% of Area Median Income, as adjusted for family size. The Owner and Developer expect that all of the residents of Buckman Road apartments will meet either the LIHPRHA or LIHTC standards. In the event that a current household’s income exceeds the LIHTC limits, and the household cannot be accommodated in one of the non-LIHTC units, the Owner will provide additional relocation assistance. Such assistance will include:

♦ Expediting the return of security deposits; ♦ Contacting comparably priced rental communities to request priority for persons being displaced; ♦ Providing 120 day vacate notice; ♦ Give attention to the special problems of timing moves for families with school age children; and, ♦ Providing relocation payments for each family for their moving expenses as detailed in the table

below. Any family below 50% of the area median income will receive double the required payment. Half of the payment will be made when the residents provide a definite move out date and the other half after they have vacated.

Occupant owns furniture Occupant does not own

furnitureNumber of rooms of furniture

1 room

2 rooms

3 rooms

4 rooms

5 rooms

6 rooms

7 rooms

8 rooms

Each add’l. room

1 room not furn.

Each add’l. room

450 650 800 950 1100 1250 1400 1550 150 300 50 Assistance and services will be made available not only during regular business hours, but during evenings and weekends to accommodate residents who would otherwise have to miss work.

Moreover, if it is determined that the Uniform Relocation Act applies to the project, the Owner will provide relocation assistance (including relocation payments) in accordance with the Act. RELOCATION SERVICES AND COORDINATORS The relocation process will be overseen by two full-time relocation coordinators, who will be retained by the Management Company. The Relocation Coordinators will act as a liaison between residents, the Developer and the Management Company and will be responsible for making sure that the residents are kept informed and that their concerns are addressed. The Relocation Coordinators will provide written notice of any construction activity that will impact the residents and notices will be hand delivered and sent by mail. In addition, personal visits will be made by the Relocation Coordinators to work individually with the affected residents. One of the coordinators will work with the residents preparing them for overflow apartment packing. This coordinator will supply boxes and packing materials to all residents preparing for interior renovations. This

coordinator will also provide resident updates, newsletters and arrange assistance for residents with special needs. The second Relocation Coordinator will work with the remaining residents and contractors in order to create a smooth transition. This will include informing the residents of the upcoming overflow packing schedules and insuring that the residents have left their apartments by the start time of the daily construction schedule. This coordinator will also be responsible for insuring that all apartment homes have been secured following the daily departure of the General Contractor. The Relocation Coordinators, Developer and Management Company will hold an initial meeting with the residents at least 60 days prior to the scheduled start of construction to provide a detailed description of the relocation plan, anticipated schedule of construction, relocation reference summary, procedure for potential damage or loss or personal property and to answer any questions they may have.

During the period of construction the Owner and Management Company will hold vacant apartments to be utilized as hospitality suites for the use of residents whose units are under construction during the day. The hospitality suites will be equipped for comfort and convenience. The temporary hospitality suites will have full service kitchen & baths and will be furnished with seating areas. The hospitality suites will also include televisions with basic cable service, telephone service for local calls and light refreshments. If it becomes necessary for any residents to move any of their belongings out of their units temporarily to accommodate construction work, the Developer will provide for moving and secure on or off site storage of the residents personal property.

Since the residents will not be required to relocate during construction, except for residents with special needs or apartment homes converting into barrier-free units, residents will be expected to pay their normal rent; utility transfers will not be necessary. SPECIAL NEEDS The Relocation Coordinators will determine, during their initial visits with each resident, if any household member requires special accommodations, handicap accessibility needs, transportation or other special coordination needs. These needs will be incorporated into an individual relocation plan for those households identified as having these needs. MOVING PROCESS The on-site Community Manager and the Management Company will assist in the supervision of the Relocation Coordinators as well as the entire tenant-in-place renovation process. One moving company will be hired. For those residents who may be required to physically move from their units during the renovation, additional arrangements will be made for residents over the age of sixty (60) and for those who are disabled or require special assistance. The mover will be licensed, insured and bonded. Boxes will be provided to the residents prior to their scheduled overflow packing along with a checklist, which identifies the responsibilities of the residents and the responsibilities of the Developer and the Management Company. Each vendor who supplies goods and services for the tenant-in-place relocation program will submit invoices to the Management Company, which indicates the costs incurred per unit or residents. SCHEDULE OVERVIEW It is projected that the interior renovations of Buckman Road Apartments will be completed in stages. The staging would consist of 12 apartment homes (one stairwell per stage) undergoing rehabilitation. The completion of the property rehabilitation is anticipated to be a total of 16 months. All residents to be temporarily relocated on-site will receive a minimum thirty (30) day transfer notice. All residents remaining in their apartment home during the renovation period and requiring packing of overflow personal property will also receive a minimum (30) day scheduling notice.

COMMUNICATION The tenant-in-place relocation process will be an ongoing process of packing and entering apartments for the various interior apartment renovations. This is estimated to be a twenty one (21) day renovation process. Residents will be notified of packing and renovation dates by notices that will be hand delivered, sent regular mail and or certified mail. Subsequent notices will be hand delivered based on the importance of the subject. During this period in which the residents are coping with the prospects of great change in their lives, there will be an increased commitment to communications. Edgewood Management Corporation will inform residents of upcoming events and changes occurring throughout the renovation period through the use of the Resident Council, flyers and community meetings. Notifications will be posted in conspicuous public locations including the management office, laundry facilities, building entrances and mail-boxes. Representatives of the Management Company will be on site five (5) days a week to address any questions which may arise. The Relocation Coordinator will open the management office at 7:00 a.m. five (5) mornings per week to accommodate the work schedule of Buckman Road Apartment residents. RESOLUTION OF RESIDENT COMPLAINTS While the goal is to make the construction and relocation process a smooth one for the residents, certain situations may occur from time to time that will require a resolution of the resident concern. If a resident has a concern or grievance, the resident will immediately inform the Relocation Coordinator. If the Relocation Coordinator can resolve the issue, then the Relocation Coordinator will promptly notify the Regional Property Manager of the Management Company who will in turn work to resolve the concern. If the concern cannot be resolved by the Management Company, then the Owner/Developer will be promptly contacted for final disposition of the issue. The resident will be informed, in writing, as to the actions taken in each step of the complaint process. RELOCATION GUIDELINES The Owner, Developer and Management Company agree to abide by the Relocation Assistance Guidelines of the Virginia Housing Development Authority. To the extent than any of the foregoing contradicts the Guidelines, the Guidelines will control.

TAB H

(PHA/Section 8 Notification Letter)

TAB I

(Local CEO Letter)

Local CEO Letter is submitted separately

TAB K

(Site Control Documentation)

TAB M

(Zoning Certification Letter)

TAB N

(Copies of 8609’s To Certify Developer Experience)

TAB O

Photographs of Site

The Renovation of

Buckman Road Apartments 3500 Buckman Road

Alexandria, VA 22309

WIENCEK + ASSOCIATES ARCHITECTS + PLANNERS, PC COMMUNITY PRESEVATION DEVELOPMENTDEVELOPMENT CORPORATION

Building elevation from parking lot looking at rear of Building No.4

Access to existing leasing office (ramp is not ADA compliant). Leasing office will be relocated adjacent to

new proposed community center and will be fully accessible.

The Renovation of




Entrance with pre cast concrete “bridge “.

Deteriorated surface will be repaired and resurfaced.

Entrance into Building No.5.

The Renovation of




Existing aluminum balcony rails will be repaired and refinished. Existing concrete

will be repaired.

Existing through wall HVAC unit to be replaced with high efficiency split system. Existing

louver opening will be closed with new masonry infill. Existing T-111 wood panel siding will be replace with hard coat stucco or fiber cement

siding.

The Renovation of




Existing single pane aluminum windows and sliding doors will be

double insulated vinyl window with Low “E” glazing .

Existing downspout and gutters will be replaced with new pre-finished downspout and gutters. Existing exterior wood trim, fascia and rake board will be replaced with

new fiber cement trims .

The Renovation of




Typical aluminum building entry storefront system to remain. New canopy will be added to provide

added entry feature and weather protection.

Typical metal stair to be clean and repaired

The Renovation of




Existing fire alarm system to be replaced with new fire alarm system

compliant with current building code requirement

Typical laundry room per stair well

The Renovation of




Typical unit kitchen. New cabinets will be installed per survey. New cabinets will meet VHDA Minimum Cabinet

Standard

Appliances will be replaced per survey. New Energy Star rated dish washer will

be included in all units. All new appliances will be Energy Star rated.

The Renovation of




Interior door and frame to be repaired/replaced per survey

Damaged drywall will be replaced per survey.

The Renovation of




Replace existing smoke detector with new hardwire, battery back-up smoke detector

and CO detector

Replaced water damaged exterior mechanical closet doors with new

painted hollow metal doors per survey.

The Renovation of




Replace plumbing trims with low flow trims.

Replace all toilets with 1,6 gpf toilets

The Renovation of




Existing gas fired central water heater will be replaced with new high

efficiency gas water heaterExisting Magic Pak thru wall system to

be replaced with new gas furnace , electric cooling split system meeting

EarthCraft requirement.

The Renovation of




Existing riser-type electric system to be replaced completely

Existing light fixtures will be replaced with Energy Star rated fixtures

TAB Q.1

(Section 8 Contract)

TAB Q.2

(Utility Allowances)

Allowances for U.S. Department of HousingTenant-Furnished Utilities and Urban Developmentand Other Services Office of Public and Indian Housing

Calculated with UAproLocality Age Unit Type 5/29/2008

Garden/Walkup, Elevator/High-Rise

Utility or Service Monthly Dollar Allowances0 BR 1 BR 2 BR 3 BR 4 BR 5 BR

Heating a. Natural Gas $23 $26 $29 $33 $36 $40

b. Bottle Gas $53 $61 $69 $78 $86 $95

c. Oil $30 $46 $63 $79 $95 $112

d. Electric $15 $24 $32 $41 $50 $58

e. Heat pump $8 $12 $16 $21 $25 $30

Cooking a. Natural Gas $6 $9 $11 $13 $15 $18

b. Bottle Gas $13 $18 $23 $28 $33 $38

c. Electric $6 $8 $10 $13 $15 $17

d. Other $0 $0 $0 $0 $0 $0

Other Electric $30 $38 $46 $54 $62 $70

Air Conditioning $3 $6 $9 $12 $15 $18

Water Heating a. Natural Gas $10 $16 $21 $27 $32 $37

b. Bottle Gas $23 $35 $48 $61 $73 $86

c. Electric $11 $18 $24 $30 $37 $43

d. Oil $19 $29 $39 $50 $60 $70

Water $19 $25 $30 $35 $41 $46

Sewer $18 $26 $34 $42 $50 $58

Trash Collection $29 $29 $29 $29 $29 $29

Range/Microwave

Refrigerator

Other - specify Natural Gas Monthly Fee $11 $11 $11 $11 $11 $11Utility or Service per month costHeatingCookingOther ElectricAir ConditioningWater HeatingWaterSewerTrash CollectionRange/MicrowaveRefrigeratorOther

Total$0 $90 $106 $123 $139 $0

Spreadsheet (ver04) based on form HUD-52667 (12/97).

Previous editions are obsolete ref. Handbook 7420.8

Fairfax County RHAAveraged Rates

TAB Q.3

(Waiver of Identity of Interest Rule)

Browne, Paul

From: Chandler, Jim [[email protected]]Sent: Wednesday, May 13, 2009 11:11 AMTo: Browne, PaulSubject: RE: Buckman Road Apartments

Page 1 of 2

5/13/2009

No there would not be a change to the decision.

From: Browne, Paul [mailto:[email protected]] Sent: Wednesday, May 13, 2009 10:59 AM To: Chandler, Jim Subject: RE: Buckman Road Apartments Thanks, Jim. I take it that that decision would not be changed by the fact that CPDC’s subsidiary holds title directly, rather than as the GP of a limited partnership.

From: Chandler, Jim [mailto:[email protected]] Sent: Wednesday, May 13, 2009 10:36 AM To: Browne, Paul Subject: RE: Buckman Road Apartments Paul, Yes a waiver will be granted based on the information that CPDC has not been the General Partner owner for the entire time the current ownership has been in place.

From: Browne, Paul [mailto:[email protected]] Sent: Wednesday, May 13, 2009 10:10 AM To: Chandler, Jim Subject: Buckman Road Apartments

Jim: I am following up on our conversation earlier this week about Buckman Road and our requested waiver of the prohibition against claiming the 20 bonus points for having an existing Section 236 property. I am trying to get our application out in FedEx tonight, and would appreciate it if you could advise me whether VHDA will grant the waiver. Thanks very much. Paul Browne

Paul Browne Director of Real Estate Development

Community Preservation and Development Corporation 5513 Connecticut Avenue, NW Suite 250 Washington, DC 20015 www.cpdc.org

Office: 202.885.9567 | Mobile: 202.627.9938 | Fax: 202.895.8805 "Developing Vibrant Communities Through Innovation and Partnerships"


The information contained in this e-mail is confidential and/or proprietary to the Virginia Housing Development Authority. The information transmitted herewith is intended only for use by the individual or entity to which it is addressed. If the reader of this message is not the intended recipient, you are hereby notified that any review, retention, retransmission, dissemination, distribution, disclosure, copying or other use of, or taking of any action in reliance upon this information is strictly prohibited. If you have received this communication in error, please contact the sender and immediately delete this e-mail with any of its attachments from your computer and destroy any printouts that you may have made.

The information contained in this e-mail is confidential and/or proprietary to the Virginia Housing Development Authority. The information transmitted herewith is intended only for use by the individual or entity to which it is addressed. If the reader of this message is not the intended recipient, you are hereby notified that any review, retention, retransmission, dissemination, distribution, disclosure, copying or other use of, or taking of any action in reliance upon this information is strictly prohibited. If you have received this communication in error, please contact the sender and immediately delete this e-mail with any of its attachments from your computer and destroy any printouts that you may have made.



Page 2 of 2

5/13/2009

Browne, Paul

From: Browne, PaulSent: Monday, May 04, 2009 11:12 AMTo: '[email protected]'Subject: Buckman Road ApartmentsAttachments: Buckman Use Agreement.pdf; Capital Grant Agreement.pdf

Page 1 of 1

5/13/2009

Jim: I am writing to request that VHDA reconsider its position with respect to whether our application would be entitled to receive the 20 bonus points for being an existing Section 236 and Section 8 property in spite of the identity of interest between the buyer and seller (the Identity of Interest Rule). The property is currently owned by CPDC’s subsidiary, Buckman Road Preservation Corporation (BRPC), a 501(c)(3) not-for-profit corporation. BRPC purchased the property in 1996 under the Low Income Housing Preservation Resident Homeownership Act (LIHPRHA) program. That program had been established to provide Section 236 property owners with incentives to preserve their properties, either by providing equity take-out funding to the then-owner or by financing the acquisition of the properties by qualified not-for-profits. To buy Buckman Road apartments, CPDC assumed the Section 236 loan and Section 8 contract, and received a grant from HUD that covered the balance of the acquisition and transaction costs. For its part, CPDC agreed to maintain the property as a mixed-income affordable housing resource for the remainder of its useful life. The owner, however, was not allowed to any distribution of cash flow and is allowed only a small annual asset management fee. CPDC received no developer fee for its involvement in the transaction. For your reference, I am attaching a copy of the HUD Capital Grant Agreement which sets out the sources and uses of the acquisition (on Exhibit 3), and the Use Agreement which governs the property. You have advised me that a waiver of the Identity of Interest Rule has been granted in a situation in which the general partner of the existing owner of a Rural Development deal had assumed that role after the USDA had requested that the former general partner be removed from the partnership. We believe that the case of Buckman Road apartments offers an analogous situation. CPDC’s acquisition of the property was sponsored by the government and was part of an effort to preserve the property as affordable housing. As was likely the case in the RD property, CPDC received no financial benefit for stepping into the ownership role. I think it bears repeating that since taking over ownership CPDC has been a diligent steward of the property, as evidenced by the 90+ scores on the two most recent REAC inspections. In light of the fact that CPDC assumed ownership of Buckman Road apartments under a HUD preservation program and has received neither a developer fee nor a cash flow distribution, but has maintained the property scrupulously for 12 years, we believe that it is reasonable that CPDC receive the 20 points that would be granted if we were buying the property today from a third-party. Thank you for your consideration. Regards, Paul




TAB Q.4

(Evidence of Partial Tax Abatement Program)

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homepage > taxes & revenue > tax administration > real estate tax:

Tax Abatement - Revitalization Program

(Partial Tax Exemption Ordinance Amendment

effective September 1, 2007)

Article 24, Chapter 4 of the Fairfax County Code, Partial Tax Exemption Ordinance, as amended by the Fairfax County Board of Supervisors on July 23, 2007, provides for the renovation, rehabilitation or replacement of certain multifamily, commercial or industrial property. As authorized by state law, the Board provides a partial tax exemption incentive to improve and maintain the quality of buildings in the County. The Department of Tax Administration (DTA) is the administering agency of this program. Program highlights include:

Program Eligibility and Requirements:

Commercial and industrial structures located within Revitalization Districts are eligible for the program. Contact DTA to verify that the property is located within a Revitalization District. The building age must be at least 25 years old. If the improved structure total floor area is more than 80,000 sq. ft., then the project must be mixed-use. Minimum market value increase due to improvements is 25 percent.

Multifamily structures located countywide are eligible for the program. The Multifamily structure (building) must be at least 20 years old. Review Moderate Rental Apartment ratio criteria. Minimum market value increase due to improvements is 25 percent.

An application for Partial Tax Exemption must be filed with DTA at the time a permit is filed for the improvements. Review the ordinance criteria prior to filing the application, to determine if the planned revitalization qualifies (contact DTA for assistance).

DTA will schedule an inspection for an appraisal of the existing structure once a partial tax exemption application is received. This appraisal will establish the structure’s base value for the program. Any structural changes made prior to inspection will be incorporated in the structure’s base value.

Work must be completed by December 31st of the third year following the year in which the application for partial tax exemption is made. A detailed listing of actual costs must be submitted to DTA.

DTA will make a final appraisal upon substantial completion of work on the structure. This will establish the structure’s final value. The request for final appraisal must be made before November 1 for partial exemption in the following calendar year.

Review ordinance criteria for further information.

Hotels are not eligible for this program, unless part of a mixed use project.

Program Benefits:

Qualifying property owners receive a partial exemption of the taxes associated with the increase in structural value due to renovation, rehabilitation or replacement (i.e. final structural value compared to base structural value), provided all program requirements are met. Owner will receive an exemption over specified time period.

The partial tax exemption will transfer with the property.

Application for exemption must be made by September 1, 2010.

No exemption will be granted on land value.

All work done must conform to existing County regulations.

The amount of partial tax exemption will be fixed and will not grow over time. It may be reduced in the event the value of property declines in the future.

Taxes will be assessed and due at 100% during the construction phase (i.e. prior to final appraisal).

There is a $250 program application fee (nonrefundable).

Amenities such as swimming pools generally will not qualify for the program.

For more information, refer to the application procedures and the Partial Tax Exemption Ordinance in its entirety. The application and the other documents are available for viewing and printing from the Department of Tax Administration (DTA) website at: www.fairfaxcounty.gov/dta. The application can also be obtained by contacting the DTA office at 703-222-8234, [TTY 703-222-7594; Español 703-324-3855]. Completed application forms should be mailed to: Fairfax County Department of Tax Administration, 12000 Government Center Parkway, Suite 223, Fairfax, VA 22035.

Page 1 of 1Fairfax County Government

3/2/2009http://www.fairfaxcounty.gov/dta/realestatetax_abatementprogram.htm

homepage > taxes & revenue > tax administration > real estate tax > tax abatement - revitalization program:

Revitalization Ordinance Criteria

Partial Tax Exemption Revised Ordinance Criteria & Application Procedures

(Amendment Effective September 1, 2007)

Article 24, Chapter 4 of the Fairfax County Code, Partial Tax Exemption Ordinance, providing for the renovation, rehabilitation or replacement of multifamily, commercial or industrial property, was amended by the Fairfax County Board of Supervisors effective September 1, 2007. As authorized by state law, the Board provides a partial tax exemption incentive to improve and maintain the quality of certain types of property in the County. The Department of Tax Administration (DTA) is the administering agency of this program. The following is a summary of the application requirements. The original ordinance was approved by the Board of Supervisors on June 23, 1997, and was effective on September 1, 1997. That ordinance was amended by the Board of Supervisors July 1, 1999 and September 1, 2002. The current ordinance expires September 1, 2010.

Application Requirements:

1. File the Application for Partial Tax-Exemption with the Fairfax County Department of Tax Administration (DTA), Suite 223, 12000 Government Center Parkway, VA 22035 when you apply for a building permit. A building permit # is required on the application. A nonrefundable fee of $250.00 is required to be attached, made payable to the County of Fairfax. [Note: Prior to filing the application, owners should contact DTA staff to review the ordinance criteria and determine if the planned improvements may qualify]. The ordinance amendment provides for different criteria for Multifamily property located throughout the county and Commercial/Industrial property located within a Commercial Revitalization District. Refer to attached Table A for criteria. Call DTA staff for assistance at 703-222-8234. Current ordinance criteria are shown on website: www.fairfaxcounty.gov/dta.

2. Upon DTA's receipt of the application, the owner will be contacted to schedule an appraisal inspection of the property by a County appraiser to determine the base (building) value, and to review the number of Moderate Rental Apartment units (multifamily) or total square footage (commercial) of the existing structure undergoing improvements. Improvements made prior to the date DTA receives the application are not eligible for the partial tax exemption. The base value is determined by DTA after an interior and exterior inspection of the structure, prior to commencement of property improvements.

3. The Application will expire December 31st of the 3rd calendar year following the year in which the application was submitted. If the planned improvements do not meet the requirements for the partial tax exemption by the expiration date, the application will expire and a new application and fee will be required. Then, a new base building value will be established based on the condition of the building as of the date of DTA's base appraisal.

4. Final determination of qualification for a partial tax exemption is not made until the construction is complete. DTA will make a final appraisal upon substantial completion of work on the structure to establish the structure's final building value. An owner must submit prior to November 1st of the calendar year in which revitalization of a structure is complete, a written request to DTA for inspection of the structure to determine if it qualifies for the partial tax exemption for the following year. The request for final appraisal must be made before November 1st for partial tax exemption in the calendar year following construction completion.

5. Real estate taxes must be paid. Failure to pay all real estate taxes when due will result in forfeiture of the partial tax exemption for that year, in addition to other penalties as applicable by law. Ability to apply for this program will expire September 1, 2010. Any delinquent taxes must be paid prior to DTA accepting an application. The property will be inspected annually for January 1 assessments. Taxes will be assessed and payable at 100% during the construction phase (i.e. prior to effective date of an approved partial tax exemption).

6. A copy of the County partial tax exemption ordinance and program filing procedures can be obtained for reference by visiting the DTA web site at www.fairfaxcounty.gov/dta or by calling 703-222-8234. You may also visit our office located at the Government Center, Suite 223, 12000 Government Center Parkway.

7. Qualifying property owners shall receive a partial tax exemption of the general (base rate) real estate taxes associated with the increase in structural value due to renovation, rehabilitation or replacement. This tax exemption will be the difference in the value amount between the base improvement value and final improvement value established.

The tax exemption will transfer with the property. No tax exemption will be granted on land value.

All revitalization improvements must conform to existing County regulations.

The amount of tax exemption will be fixed and will not increase over time, however may be reduced if the property improvement value declines during the partial tax exemption period.

Real estate taxes will be assessed and due at 100% during the construction phase (i.e. prior to final value appraisal).

Owners must submit a detailed list of their actual improvement costs to DTA for review.

The time period for the partial tax exemption varies by property type.

8. Refer to the ordinance for additional definitions:

"commercial or industrial structure" means real property improved with a structure or sub structure that is used for commercial or industrial purposes, but that term does not include any hotel, except when a hotel is included as a use within a Mixed-Use Project.;

"commercial revitalization district" means those commercial revitalization districts specified in Appendix 7 to Chapter 112 (Zoning Ordinance) of the Fairfax County Code, the boundaries of which are established by the official zoning map. [Note: The 5 commercial revitalization districts are: Annandale, Bailey's Crossroads/Seven Corners, McLean, Richmond Highway, and Springfield. Contact the Department of Tax Administration to verify if a tax parcel is located within a Revitalization District; and

"total square footage" (commercial & industrial) is the exterior building dimensions typically used.


3/2/2009http://www.fairfaxcounty.gov/dta/realestatetax_tax_abat_criteria.htm

"mixed-use project" means a development that includes two or more physically integrated uses, such as retail, office, or apartment uses.

Completed application forms should be mailed to:

Fairfax County Department of Tax Administration Attn: Real Estate Division, Suite 223 12000 Government Center Parkway Fairfax, VA 22035

Questions? Call 703-222-8234

Visit the DTA Web Site at: www.fairfaxcounty.gov/dta E-Mail Address: [email protected] DTA FAX #: 703-324-4935

TABLE A. SUMMARY OF FAIRFAX COUNTY PARTIAL TAX EXEMPTION CRITERIA FOR CERTAIN REHABILITATED, RENOVATED, AND REPLACEMENT OF COMMERCIAL, INDUSTRIAL AND MULTIFAMILY STRUCTURES

Effective September 1, 2007

[Partial Tax Exemption Ordinance Amendment, Real Estate Division, Department of Tax Administration]

FORM A. MULTIFAMILY STRUCTURE PARTIAL TAX EXEMPTION CRITERIA FAIRFAX COUNTY

Effective September 1, 2007

[Amendment to Partial Tax Exemption Ordinance, Real Estate Division, Department of Tax Administration]

Note: Multifamily structures located countywide are eligible for the program. The following "Moderate Rental Apartment" criteria must be met. Applicants are to submit Table 1 with their application.

1. Any rental residential dwelling unit within a Multifamily Structure that is rented or leased to a household participating in the federal Housing Choice Voucher Program (formerly known as "Section 8") or other comparable federal housing subsidy program administered by the United States Department of Housing and Urban Development is considered to be a Moderate Rental Apartment.

2. "Moderate Rental Apartment" means a rental residential dwelling unit within a Multifamily Structure for which the annual rent, based on a total of 12 monthly payments, does not exceed the Area Median Gross Income ("AMGI") for a family of four for the Washington D.C. Metropolitan Statistical Area, as determined annually by the United States Department of Housing and Urban Development, as adjusted by multiplying the AMGI by factors determined annually by the County Department of Housing and Community Development ("DHCD"). For example, for calendar year 2007, the DHCD factors are as follows:

ORDINANCE CRITERIA Sec. 4-24-3.1 Commercial and Industrial Structures Within Revitalization Districts Only

Sec. 4-24-2.1 Multifamily Structures Countywide

(Refer to Form A)

Minimum Age, Eligibility, & Multifamily Structure Criteria

Minimum age of 25 years old;

Previous additions to a main structure that are less than 25 years old are not eligible for additional renovation abatements.

Eligibility is limited to criteria within Revitalization Districts

Minimum age of 20 years;

Structure must contain 6 or more dwelling units.

Eligibility and criteria is countywide.

Market Value Criteria Commercial or industrial minimum increase in market value is 25%.

Multifamily minimum increase in market value is 25%.

Square Footage Criteria

No maximum sq. ft. limit. No maximum sq. ft. limit.

Special Eligibility Criteria

If total floor area of a commercial or industrial structure that is substantially rehabilitated, renovated, or replaced is more than 80,000 sq. ft., then the owner of such property shall be issued a partial tax exemption only if the improved or replacement structure is a mixed use project.

Number of Moderate Rental Apartment units must remain the same, except,

If number of Moderate Rental Apartments is less than 6.25%, then the owner must maintain a minimum of 6.25%.

Refer to ordinance criteria for other rent criteria.

Partial Tax Exemption Time Period

Partial tax exemption time period is 100% for 12 years.

Partial tax exemption time period is 10 years @ 100% for each year.



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3. The total number of housing units that are designated as Moderate Rental Apartment units in any particular Multifamily Structure is the total of the annual average of units qualified by rent level as computed above using the Area Median Gross Income (AMGI) factor and the total of the annual average of units rented or leased to a household participating in the Housing Choice Voucher Program. However, any rental unit which qualifies under both the rent level and the Voucher Program shall be counted as one Moderate Rental Apartment unit.

4. In the event that the United States Department of Housing and Urban Development discontinues the publication of the AMGI for a family of four in the Washington D.C. Metropolitan Statistical Area, then the Director shall determine whether a rental residential dwelling unit is a Moderate Rental Apartment by using the median gross income for a family of four as determined by the Fairfax County Redevelopment and Housing Authority, as adjusted using the factors set forth above.

5. In order to qualify for the partial tax exemptions authorized, after the rehabilitation, renovation, or replacement of a Multifamily structure, at a minimum, the owner of that property shall maintain a number of Moderate Rental Apartment units within that multifamily structure that is equal or greater than the larger of:

(A) the same number and types of Moderate Rental Apartment units that were available at that property throughout the twelve-month period prior to the rehabilitation, renovation, or replacement, or

(B) a percentage of Moderate Rental Apartment units equal to 6.25 percent of the total number of units within the multifamily structure, apportioned ratably by number of bedroom types described in Section 4-24-1 (of the ordinance), rounded to the nearest whole integer.

6. Failure to maintain at least the same number and number of bedroom types of Moderate Rental Apartment units shall result in the forfeiture of eligibility for any partial tax exemption otherwise authorized for the year in which that failure occurred, and for all years remaining in the period for which partial tax exemption otherwise would have been available. The following two examples are given for illustration:

Example No. 1: If a multifamily structure contained eight one-bedroom housing units and twelve two-bedroom housing units that were within the definition of Moderate Rental Apartment prior to a qualifying improvement or replacement, then in order to receive the partial tax exemption provided, the owner of the improved or replaced multifamily structure shall maintain at least eight one-bedroom and twelve two-bedroom housing units that qualify as Moderate Rental Apartment units, provided that the number of moderate rental units was greater than or equal to 6.25 percent of the total number of units with the multifamily structure by number of bedroom types, rounded to the nearest whole integer.

Example No. 2: If a multifamily structure contained no Moderate Rental Apartment Units prior to a qualifying improvement or replacement, then in order to receive the partial tax exemption provided, the owner of the improved or replaced multifamily structure shall maintain a minimum of 6.25 percent of its housing units as Moderate Rental Apartments.

Size of Rental Unit: Multiply AMGI by: Annual rent for efficiency housing unit 0.1260 Annual rent for one-bedroom housing unit 0.1440 Annual rent for two-bedroom housing unit 0.1620 Annual rent for three-bedroom housing unit 0.1800 Annual rent for four-or-more bedroom unit 0.1944



TAB R

(Documentation of Operating Budget)

Exhibit R Documentation of Operating Budget The proposed operating budget for Buckman Road Apartments was based on CPDC’s 10+ year ownership of the property, with (1) adjustments to reflect the change from owner-paid to tenant-paid gas and electricity, and (2) a reduction to the HVAC repair cost category due to the expected full replacement of the HVAC systems.

TAB S

(Documentation of Project Budget)

HARKINS BUILDERS, INC. ESTIMATE

DATE 12-May-09

JOB # EST-JK

JOB NAME Buckman Road Apartments

BUDGET May 12, 2009 Budget

GSF 201,784

NSF 167,865

# BLDGS 5

# STORIES 3

# UNITS 204

EFFICIENCY 83%

Comments

DIVISION Basic Green Code TOTAL Marketability Options

1 GENERAL REQUIREMENTS 813,328 813,328

2 SITEWORK 331,743 6,630 162,600 500,973 230,500 37,595

3 CONCRETE 33,588 - - 33,588 - -

4 MASONRY 20,000 - - 20,000 - -

5 METALS 56,160 - 90,440 146,600 - 5,712

6 WOOD AND PLASTIC 678,064 334,600 - 1,012,664 54,400 235,040

7 THERMAL AND MOISTURE 195,548 79,196 - 274,744 - 221,962

8 DOORS AND WINDOWS 99,860 50,483 - 150,343 - 5,100

9 FINISHES 272,192 173,568 - 445,760 - 445,609

10 SPECIALTIES 33,350 - - 33,350 18,180 20,320

11 EQUIPMENT 103,340 271,750 - 375,090 30,360 32,800

12 FURNISHINGS - - - - 36,566 -

13 SPECIAL CONSTRUCTION - 42,000 - 42,000 - -

14 CONVEYING SYSTEMS - - - - - -

15 MECHANICAL 430,500 1,433,944 - 1,864,444 - 843,350

16 ELECTRICAL 98,000 272,950 483,940 854,890 - 38,700

17 BONDS AND INSURANCE 100,435 - - 100,435 - -

18 MISCELLANEOUS - - - - - -

19 RESERVED/ CONTINGENCY 350,000 - - 350,000 - -

SUBTOTAL 3,616,108 2,665,121 736,980 7,018,209 370,006 1,886,188

OVERHEAD 72,322 53,302 14,740 140,364 7,400 37,724

FEE 180,805 133,256 36,849 350,910 18,500 94,309

TOTAL 3,869,235 2,851,680 788,569 7,509,484 395,906 2,018,221

Basic Green Code TOTAL Marketability Options Comments

CLARIFICATIONS:

BUILDERS RISK IS NOT INCLUDED

PERMIT FEES ARE NOT INCLUDED

Add AlternateBase Budget

COST CODE

DIVISION 1 - GEN'L REQUIREMENTS

1030 WORKMAN'S FACILITIES 10,000 10,000

Harkins will be given one vertical stack of 6

apartments at a time. Work in each stack will

be completed in two weeks.

1040 TRUCK & AUTO 57,855 57,855

The tenant and all of their belongings will be

removed from the apartment for some or

1050 FIELD OFFICE 27,300 27,300

all of the two weeks.(HBI and CPDC to

coordinate). Window installation

1060 PROFESSIONAL FEES - 0

will take place independently of the other

renovation work.

1090 PROTECTION 800 800

1410 SUPERVISION 434,420 434,420

General conditions for 16 months are

estimated.

1410 SUPERVISION-LOAD 188,980 188,980

1420 SITE PERSONNEL/CLERK 27,297 27,297

1420 SITE PERSONNEL/CLERK LOAD 12,830 12,830

1430 PROGRAMMING 11,020 11,020

1470 PRINTS & PHOTOS 5,000 5,000

1480 PROJECT SIGN 800 800

1500 TEMPORARY FACILITIES 18,710 18,710

1650 SAFETY PERSONNEL 4,298 4,298

1650 SAFETY PERSONNEL LOAD 2,020 2,020

1705 REFUNDABLE DEPOSITS - 0

1900 PLANS/REIMBURSABLE 12,000 12,000

0

TOTAL DIVISION 1 813,328 813,328

COST CODE

DIVISION 2 - SITE WORK Basic Green Code TOTAL Marketability Options Comments

2070 SURVEYING & ENGINEERING -

2110 DEMOLITION -

2112 HAZARDOUS MAT'L ABATEMENT -

2200 B.1 EARTHWORK/ MINOR REGRADING 79,200 79,200

Includes grading swales. Includes downspout

connections. Regrading for waterproof.

B.2 INFILL MAGIC PAK AREAWAYS incl B.1 -

2202 EARTHWORK RENTAL - -

2211 ROCK REMOVAL -

2230 TESTING - -

2281 SOIL TREATMENT -

2300 DEEP FOUNDATIONS -

2420 SHORING/UNDERPINNING -

2500 A.3 STORM & SEWER REPAIR ALLOWANCE 10,000 10,000

A.2 TELEVISE STORM AND HYDRO JET LINES 7,000 7,000

A.4 ADJUST DOWNSPOUT CONNECTIONS incl b.1 -

2515 UNIT PAVERS -

2551 A.5 WATER UPGRADE CONNECT FOR SPRINKLER LINE - 37,595 Includes new fire laterals for 5 buildings

2552 A.1 SANITARY DISTR./TELEVISE AND HYDRO JET 6,800 6,800

2553 GAS DISTRIBUTION -

2554 J.1 DOMINION FEE FOR POWER UPGRADE By Owner - Harkins assumes cost to be by owner

2610 D.1 REPAIR, SEAL & RESTRIPE PAVING 110,230 110,230 10 patches are included.

2612 TEMPORARY ROADS - -

2620 C.2 NEW CURB CUTS. 6,000 6,000 Ten curb cuts

C.3 CURB REPAIRS 2,400 2,400

Includes 15 each 4' sections of curb to

replace.

2630 C.1 REMOVE AND REPLACE WALKS 36,000 36,000 includes 4000 s.f.

C.4 NEW HANDICAP RAMPS incl C.2 -

C.5 NEW HANDICAP RAMP TO MGMT OFFICE 600 600

2640 SYNTHETIC SURF/COURTS -

2650 STREET SIGNS -

2652 I.1 PROJECT SIGNAGE - 10,000

I.2 PROJECT SIGNAGE/ MANAGEMENT OFFICE - 5,000

2660 STREET/SITE LIGHTING -

2710 F.1 ACCESS CONTROLED FENCING - 207,400

Cost includes ornamental metal fencing for

entire perimeter.

F.2 ORNAMENTAL FENCE @ BUCKMAN Rd ( 2000 L.F.) 120,000 120,000 Includes 2,000 l.f. and no gates.

G.1 RX/ REPLACE 3 DUMPSTER ENCLOS. WITH PAD. 28,500 28,500

Enclosure to be pressure treated wood

with steel gates.

2715 TEMP. FENCE & WALKWAY 4,000 4,000

2720 ROAD/PARKING LINES -

2730 RECREATIONAL FACIL. -

2750 DEWATERING -

2751 IRRIGATION -

2760 SITE FURNISHINGS -

2800 E.2 LANDSCAPING/ PRUNE AND MULCH - 8,100

E.3 LANDSCAPING/SUPPLEMENT PLANTING 6,630 6,630

Includes six shrubs and one ornamental tree

per stairwell.

2820 SOD -

2822 E.1 SEED 3,613 3,613 Reseeding swales at building fronts.

2830 TREE PROTECTION -

2980 Retaining walls for condensers platform allowance. 30,000 30,000

Includes keystone structure and gravel

pavement.

2985 SITE-RAILROAD TIES -

2990 H.1 TOT LOT ALLOWANCE 50,000 50,000

TOTAL DIVISION 2 331,743 6,630 162,600 500,973 230,500 37,595

COST CODE

DIVISION 3 - CONCRETE Basic Green Code TOTAL Marketability Options Comments

3010 A.1 CONC. SLAB REPAIR GROUND FLOOR 700 700 Includes 2 patches per building

A.2 REPAIR BUILDING ENTRIES 23,936 23,936

includes topping 1/3 of the bridges for

$8/sf.

A.3 CONCRETE REPAIR BALCONIES 8,952 8,952 includes topping 1/3 of the balconies for $8/sf.

3320 GYPSUM UNDERLAYMENT -

3340 PRESTRESSED CONCRETE -

3400 ARCH. PRE-CAST CONCRETE -

3410 PRE CAST WHEEL STOPS -

3501 CONC ELEVATED DECKS -

3801 CONCRETE HEAT -

3802 CONCRETE RENTALS -

3805 HOIST AND TOWER -

3850 HOUSEKEEPING PADS -

3990 MISC. -

3991 MISC. -

3992 MISC. -

3993 MISC. -

3994 MISC. -

3995 MISC. -

TOTAL DIVISION 3 33,588 - - 33,588 - -

COST CODE

DIVISION 4 - MASONRY Basic Green Code TOTAL Marketability Options Comments

4010 MASONRY WORK -

4011 STUCCO/PARGING -

4014 MASONRY HEAT -

4015 MASONRY REINFORCING -

4151 SCAFFOLDING -

4400 STONE/GRANITE -

4500 A.1 MASONRY REPAIR ALLOWANCE 20,000 20,000

Allowance includes cost to repoint

approximately 2.5% area of brick.

4720 CAST STONE -

4802 MASONRY RENTALS -

4990 MISC. -

4991 MISC. -

4992 MISC. -

4993 MISC. -

4994 MISC. -

4995 MISC. -

TOTAL DIVISION 4 20,000 - - 20,000 - -

COST CODE

DIVISION 5 - METALS Basic Green Code TOTAL Marketability Options Comments

5100 STRUCTURAL STEEL -

5102 STEEL ERECTION -

5200 METAL JOISTS -

5250 HAMBRO FLOOR SYSTEM -

5300 METAL DECK -

5510 METAL STAIRS -

5520 HANDRAILS/RAILINGS -

5700 ORNAMENTAL METALS ALLOW. -

5800 MISC METALS -

5810 EXPANSION JOINT COVERS -

5990 A.1 MISC./REPAIR EXISTING RAILS/scrape & repaint 4,760 4,760

Includes cost to scrape and repaint. Only

minor repairs are included.

5991 A.2 MISC./REPLACE STAIR RAILS 90,440 90,440

5992 A.3 MISC./ NEW STAIR TREADS - 5,712 New treads should not be required.

A.4 MISC./ REPLACE ENTRY BRIDGE SLAB RAILS 46,550 46,550

5993 A.5 MISC./REPAIR BALCONY RAILS 4,850 4,850

Includes cost to scrape and repaint. Only

minor repairs are included.

5994 MISC. -

5995 MISC. -

TOTAL DIVISION 5 56,160 - 90,440 146,600 - 5,712

COST CODE

DIVISION 6 -WOODS AND PLASTICS Basic Green Code TOTAL Marketability Options Comments

6001 ROUGH CARPENTRY -

6100 FRAMING LUMBER -

6170 PREFAB STRUCT LUMBER -

6190 WOOD TRUSSES -

6200 FINISH CARPENTRY -

6220 MILLWORK/TRIM -

6240 LAMINATED PLASTICS -

6400 ARCH WOODWORK -

6430 STAIRWORK -

6660 SAFETY MATERIAL 2,000 2,000

6700 ROUGH HARDWARE 2,000 2,000

6720 MISC. CARPENTRY MATERIAL 7,000 7,000

6802 CARPENTRY RENTALS 2,000 2,000

6830 CARPENTRY TOOLS 2,000 2,000

6990 A.1 MINOR REPAIRS TO WOOD BASE 10,504 10,504 Includes one hour carpenter time.

6991 B.1 DEMOLITION INCLUDED IN LINE ITEMS -

6992 C.1 BARRIER FREE UPGRADE ALLOWANCE 207,790 207,790

Includes new walks from apartment patio

to sidewalk for 11 apartments.

6993 C.2 VISUAL AND HEARING IMPAIRED UPGRADE ALLOW. 5,800 5,800

6994 D.1 LAUNDRY RM. UPGRADE ALLOW. PAINT & FLOOR 13,600 13,600 paint & resilient floor only

6994 D.2 MAINT. OFFICE STORAGE ALLOW. PAINT & FLOOR 2,200 2,200 paint & resilient floor only

6994 D.3 COMMUNITY ROOM IMPROVEMENT ALLOW. 350,650 350,650

Addition of 2495 s.f. and convert old

community room to 2 H.C. apartments

6994 D.4 MANAGEMENT OFFICE IMPROVEMENT ALLOW. 25,800 25,800

6994 E.1 MISC. FRAMING REPAIRS 30,000 30,000

6994 F.1 FABRIC CANOPIES - 54,400

6994 F.2 OPTION CANVAS COVER AT 'BF' - 27,000

6994 G.1 NEW KITCHEN CABINETS FOR 122 UNITS 265,960 265,960 122 apartments

6994 G.2 NEW KITCHEN CABINETS FOR 82 UNITS - 178,760 82 apartments

6994 G.3 NEW BATH VANITIES FOR 143 UNITS 68,640 68,640 143 bathrooms

6994 G.4 NEW BATH VANITIES FOR 61 UNITS - 29,280 61 bathrooms

6995 WOOD FLOOR REPAIR ALLOWANCE 16,720 16,720 Assuming 152 repairs. 3 repairs for 50 apts.

TOTAL DIVISION 6 678,064 334,600 - 1,012,664 54,400 235,040

COST CODE

DIVISION 7 - THERMAL & MOISTURE Basic Green Code TOTAL Marketability Options Comments

7001 DRAIN TILE -

7100 F.1 WATERPROOFING 37,440 37,440

Bituthene waterproofing where grade is higher

than floor elevation.

7210 C.1 BUILDING INSULATION/R-38 IN ATTIC 50,446 50,446

7240 EIFS -

7250 SPRAY FIREPROOFING -

7270 FIRESTOPPING -

7300 A.1 MISC. REPAIRS TO EXISTING ROOF 25,000 25,000 Sheathing replacement is not included

A.2 REPLACE EXISTING SHINGLES - 221,962

7410 B.1 REMOVE T-111/ NEW CEMENT PANELS 42,500 42,500 Panels installed at furnace vent stack.

B.2 REPLACE GABLE END SIDING N/A - Gables appear to be all brick.

B.3 REPLACE SOFFIT & RAKES 57,200 57,200

7420 METAL WALL PANELS -

7510 BUILT-UP ROOF/EPDM ROOF -

7600 FLASHING/SHEETMETAL -

7603 METAL ROOFING -

7631 E.1 GUTTERS AND DOWNSPOUTS 33,408 33,408

7705 SPLASH BLOCKS -

7800 ROOF ACCESSORIES -

7810 SKYLIGHTS -

7900 G.1 CAULK & SEALANTS EXTERIOR 8,500 8,500

G.2 CAULK & SEALANTS INTERIOR 15,150 15,150

7910 TRAFFIC DECK SEALANTS -

7990 D.1 ATTIC VENTILATION/ TURBINE (NO MOTOR) 5,100 5,100 Louvers to be non mechanized.

7991 MISC -

7992 MISC -

7993 MISC -

7994 MISC -

7995 MISC -

-

TOTAL DIVISION 7 195,548 79,196 - 274,744 - 221,962

COST CODE

DIVISION 8 - DOORS AND WINDOWS Basic Green Code TOTAL Marketability Options Comments

8100 B.1 METAL DOORS/FRAMES/HRDWRE 143 EACH 72,930 72,930

8101 METAL CLAD DOORS -

8200 SOLID CORE WOOD DOORS -

8220 B.2 PREHUNG & BIFOLD DOORS 122 DOORS. 18,910 18,910

8305 ACCESS DOORS -

8350 SPECIAL DOORS -

8360 OVERHEAD DOORS -

8400 STOREFRONT -

8500 A.1 ALUMINUM WINDOWS 1,733 1,733 Existing window frame to be removed.

8530 SPECIAL WINDOWS -

8600 WOOD/PVC WINDOWS -

8640 A.2 SLIDING GLASS DOORS 48,750 48,750 Existing window frame to be left in place.

8710 FINISH HARDWARE -

8800 GLASS AND GLAZING -

8810 GLASS BREAKAGE - -

8950 STORAGE 1,920 1,920

8990 B.3 MISC./ REPAIR H.M. FRAMES 61 EACH 6,100 6,100

8991 B.4 MISC./UPGRADE ATTIC ACCESS PANELS - 5,100

8992 MISC. -

8993 MISC. -

8994 MISC. -

8995 MISC. -

-

TOTAL DIVISION 8 99,860 50,483 - 150,343 - 5,100

COST CODE

DIVISION 9 - FINISHES Basic Green Code TOTAL Marketability Options Comments

9100 LATH & PLASTER -

9250 A.1 GYPSUM WALLBOARD REPAIRS 101,000 101,000 Includes patching only.

9300 E.1 TILE/ NEW TUB SURROUNDS 40 UNITS 10,000 10,000

Includes new ceramic tile and cement backer

board at 40 tubs. Tubs to remain.

E.2 TILE/ NEW TUB SURROUNDS 162 UNITS - 40,500

Includes new ceramic tile and cement backer

board at 162 tubs. Tubs to remain.

9310 PORCELAIN REPAIR -

9340 MARBLE/STONE FLOORING -

9500 ACOUSTICAL TREATMENT -

9550 B.1 WOOD FLOORING - N.I.C. - Owner refinishes wood parquet floor.

9650 D.1 RESILIENT FLOORING WITH LUAN BOARD 32,825 32,825 New non PVC resilient in 204 bathrooms.

D.2 RESILIENT FLOORING -

D.3 RESILIENT FLOORING 80,093 80,093 New non PVC resilient in 204 kitchens.

D.4 RESILIENT FLOORING - 47,977 New non PVC resilient in 121 bathrooms.

9680 C.1 CARPETING - 205,794 New carpet for second and third floor units.

9700 SPECIAL FLOORING -

9800 SPECIAL FINISHES -

9900 F.1 PAINTING/ KITCHENS AND BATHS 55,550 55,550

F.2 PAINTING/ ENTIRE UNIT - 151,338 kitchen and bath paint included in F.1

9902 FINISHES RENTAL 30,800 30,800

9910 TEMPORARY LABOR - -

9920 CLEAN-UP LABOR 33,600 33,600

9920 CLEAN-UP LABOR-LOAD 15,792 15,792

9925 PUNCHOUT LABOR 15,360 15,360

9925 PUNCHOUT LABOR-LOAD 7,219 7,219

9930 QUALITY CONTROL 5,048 5,048

9930 QUALITY CONTROL LOAD 2,373 2,373

9950 WALLCOVERING -

9980 HEAT FOR FINISHES - -

9989 FINISH CLEAN 51,000 51,000

9990 F.1 MISC./WALK OFF-MATS 5,100 5,100

9991 MISC. -

9992 MISC. -

9993 MISC. -

9994 MISC. -

9995 MISC. -

TOTAL DIVISION 9 272,192 173,568 - 445,760 - 445,609

COST CODE

DIVISION 10 - SPECIALTIES Basic Green Code TOTAL Marketability Options Comments

10100 CHALKBOARDS/TACK BDS -

10160 TOILET/SHOWER PARTITIONS -

10190 CUBICLE TRACK/CURTAINS -

10200 LOUVERS, GRILLES -

10260 WALL/CORNER GUARDS -

10270 ACCESS FLOORING -

10290 PEST CONTROL -

10300 FIREPLACES -

10350 FLAGPOLE -

10400 B.1 IDENTIFYING DEVICES BUILDING NUMBERS 750 750

B.2 IDENTIFYING DEVICES APARTMENT NUMBERS - 5,050

10410 DIRECTORIES/DISPLAY CASES -

10500 LOCKERS -

10520 D.1 FIRE EXTINGUISHERS - 7,070

10530 CANOPIES AND AWNINGS -

10550 C.1 POSTAL SPECIALTIES - 18,180

10650 FOLDING PARTITIONS -

10670 WIRE SHELVING -

10750 TELEPHONE ENCLOSURES -

10800 A.1 TOILET/BATH ACCESS. 32,600 32,600 163 baths

A.2 TOILET/BATH ACCESS. - 8,200 41 baths

10820 SHOWER DOORS -

10990 MISC. -

TOTAL DIVISION 10 33,350 - - 33,350 18,180 20,320

COST CODE

DIVISION 11 - EQUIPMENT Basic Green Code TOTAL Marketability Options Comments

11060 STAGE EQUIPMENT -

11132 PROJECTION SCREENS -

11150 PARKING EQUIPMENT -

11160 LOADING DOCK EQUIP -

11172 COMPACTORS/CHUTES -

11400 FOOD SERVICE EQUIP. -

11452 A.3 REFRIGERATOR 121,200 121,200

11453 A.5 DISPOSAL 12,120 12,120

11454 A.4 DISHWASHERS INCLUDES PLUMBING & ELECTRIC 150,550 150,550

Assumes 81 units will require 18"

dishwashers at a $300 apiece premium.

11455 A.1 RANGE 122 EACH 48,800 48,800

A.2 RANGE 82 EACH - 32,800

11456 A.6 RANGE HOOD 42,420 42,420

11457 MICROWAVE OVENS -

11458 WASHER/DRYER FOR 10 B.F. UNITS - 30,360

11459 RANGE HEAT SHIELDS -

11460 UNIT KITCHENS (DWYER) -

11480 ATHLETIC EQUIPMENT -

11700 MEDICAL/HOSP. EQUIPMENT -

11989 STORAGE -

11990 MISC -

11991 MISC -

11992 MISC -

11993 MISC -

11994 MISC -

11995 MISC -

TOTAL DIVISION 11 103,340 271,750 - 375,090 30,360 32,800

COST CODE

DIVISION 12 - FURNISHINGS Basic Green Code TOTAL Marketability Options Comments

12300 KITCHEN CABINETS

12345 LABORATORY CASEWORK

12500 A.1 WINDOW TREATMENT 36,566

12670 RUGS AND MATS

12710 AUDITORIUM SEATING

12990 MISC.

12991 MISC.

12992 MISC.

TOTAL DIVISION 12 - - - - 36,566 -

COST CODE

DIVISION 13 - SPECIAL CONSTR. Basic Green Code TOTAL Marketability Options Comments

13001 COMMUNITY CENTER -

13052 SAUNAS -

13125 BLEACHERS -

13170 WHIRLPOOLS/SPAS -

13080 SOUND ISOLATION -

13090 XRAY PROTECTION -

13600 PREFAB. BUILDINGS -

13850 Earthcraft coordination, inspect & testing By Owner -

Our understanding is this cost to be carried by

owner.

13990 A.1 MISC./LEAD BASED PAINT MEASURES ALLOWANCE 21,000 21,000

13991 A.2 MISC. REMOVE ASBESTOS MATERIALS ALLOWANCE 21,000 21,000

13992 B.1 MISC./ FIRESTOPPING - - included in sub line items

TOTAL DIVISION 13 - 42,000 - 42,000 - -

COST CODE

DIVISION 14 - CONVEYING SYSTEMS Basic Green Code TOTAL Marketability Options Comments

14200 ELEVATORS -

14400 LIFTS

14990 MISC.

14991 MISC.

TOTAL DIVISION 14 - - - - - -

COST CODE

DIVISION 15 - MECHANICAL

15400 PLUMBING Basic Green Code TOTAL Marketability Options Comments

A1 Replace exist toilets with new 1.6 gpf toilets 95,694 95,694 new flanges are not included

A2 Replace tub faucets and trim with new faucets 80,800 80,800

A3 Allowance to repair and refinish exist tubs 40% 28,560 28,560

A4 Allowance to repair exist domestic water system 7,650 7,650 Allow 2 repairs per stairwell

A5 Option to remove and replace all domestic water system - 545,400

A6 Allowance for misc repairs to exist waste system 7,650 7,650

A7 TV inspection of exist water and waste system 51,000 51,000

A8 Route out and flush reused waste system 25,000 25,000

A9 Option to provide new dom. water submeters to units - 85,850 New domestic water system must be in place.

A10 Provide water saving faucetts at all bath vanities 71,250 71,250

A11 Provide water saving trims at all unit kitchens 69,690 69,690

D.1 New water heaters inside of apartments - 212,100 New domestic water system must be in place.

D.2 Replace central water heaters 171,700 171,700 High efficiency water heaters.

GAS SYSTEM -

Gas submetering 141,400 141,400

B1 Allowance to provide misc repair 6,000 6,000

B2 Replace all in unit gas valves 20,200 20,200

15410 CONSTR. WATER SERVICE 2,100 2,100

15510 SPRINKLER ????????

15600 HVAC

C.1 Replace magic pak w/ gas split system 989,800 989,800

C.2 Clean out ductwork 40,400 40,400

C.3 Provide new registers and grills 30,300 30,300

E.1 Replace bath exhausts 25,250 25,250

TOTAL DIVISION 15 430,500 1,433,944 - 1,864,444 - 843,350

COST CODE

DIVISION 16 - ELECTRICAL Basic Green Code TOTAL Marketability Options Comments

A.1 Service upgrade 75,000 75,000

Cost does not include secondary conduit or

conductors

B.1 Apartment service 138,370 138,370

Includes new aluminum SER apartment

feeders.

C.1 Replace all plugs, switches, covers, GFCI 82,670 82,670 Meggers test is not included

C.1a Perform Meggers testing 23,230 23,230

C.2 New ignition plug at ranges 15,150 15,150

C.3 New bedroom AFCI 42,420 42,420

D.1 Replace lighting w/ new energy star fluorescents 151,150 151,150

D.2 Provide new energy star fluorescent unit entry 21,000 21,000

Cost includes lights in stairwell and outside

stair door.

E.1 Replace smokes with new smoke / co detectors 100,800 100,800

F.1 Replace existing fire alarm with new annunciation 102,000 102,000

G.1 Upgrade existing exterior lights allowance 50,000 50,000

H.1 Security: Option to upgrade existing CCTV 18,500

I.1 Communications: misc repair to CATV and phone 20,200

J.1 High speed wireless network to all units 48,000 48,000

16110 CONSTR. ELEC SERVICE - -

J.1 Mag locks. - 5,100 5,100

TOTAL DIVISION 16 98,000 272,950 483,940 854,890 - 38,700

COST CODE

DIVISION 17 - BONDS, INSURANCE Basic Green Code TOTAL Marketability Options Comments

17001 PERFORMANCE BONDS 50,075 50,075

17002 PERMIT FEES - -

17003 AVAILABILITY & TAP FEES - -

17004 COST AUDIT 9,500 9,500

17005 BUILDERS RISK - - Builders risk premium not included.

17006 GENERAL LIABILITY 32,500 32,500

17007 FAIRFAX FEES 8,360 8,360

17008 LEGAL FEES - -

17990 SITE BONDS NIC

17991 MISC/ Condo Walks NIC

17992 MISC

TOTAL DIVISION 17 100,435 - - 100,435 - -

COST CODE

DIVISION 18 - MISC. Basic Green Code TOTAL Marketability Options Comments

18990 ARCHITECTURAL DESIGN FEES

18991 CIVIL DESIGN FEES

18992 OTHER DESIGN FEES

18993 MISC

18994 MISC

18995 MISC

TOTAL DIVISION 18 - - - - - -

COST CODE

DIVISION 19 - RESERVED Basic Green Code TOTAL Marketability Options Comments

19001 CONTINGENCY 350,000 350,000

19990 MISC

19991 MISC

19992 MISC

TOTAL DIVISION 19 350,000 - - 350,000 - -

TAB V

(Nonprofit or LHA Purchase Option or Right of First Refusal)

TAB W

(Original Attorney’s Opinion)

TAB Y (Marketing Plan for units meeting accessibility

requirements of HUD section 504)

BUCKMAN ROAD APARTMENTS

MARKETING PLAN

May 7, 2009

MARKETING PLAN FOR


All housing opportunities are available to all persons regardless of their race, color, creed, religion, sex, national origin, marital status, physical or mental handicap, or any other prohibited basis of discrimination in accordance with Title VII of the Federal Civil Rights Acts of 1968. In addition, housing opportunities are available in accordance with §36-96.3A(1) of the Virginia Code, which includes, race, color, religion, national origin, sex, elderliness or familial status. All marketing, leasing, advertising and resident selection will be done in accordance with the abovementioned Fair Housing policies. OVERVIEW Buckman Road Apartments is a garden-style community located in the Alexandria area of Fairfax County, Virginia. The property includes 204 rental apartment homes situated in seventeen three-story buildings in five building clusters. The site consists of an irregularly-shaped parcel containing 10.3299 acres. It is bordered by Buckman Road to the south and wooded areas and single family homes to the north and east. The site has two driveway entrances off Buckman Road and contains a total of 243 parking spaces. Little Hunting Creek runs along the western border of the site. Buckman Road Apartments is served by all public utilities including gas, electricity, water, sewer, telephone and cable. No. Of Units Description Square Footage 48 1 Bedroom / 1 Bath 595 sq. ft. 108 2 Bedroom / 1 Bath 730 sq. ft. 48 3 Bedroom / 1.5 Bath 832 sq. ft. The property was originally developed under the FHA Section 236 loan program, and is now subject to a recorded Use Agreement (the LIHPRHA Covenant) which requires that 145 of the units be rented to households with incomes at or below 50% of the Area Median Income, 17 of the units be rented to households between 51% and 80% of AMI, and 38 of the units to be rented to households between 81% and 95% of AMI. Buckman Road Development LLC intends to purchase and renovate the property, in part using Low Income Housing Tax Credits. 145 of the 204 units (those rented to households at or below 50% AMI) will be subject to the LIHTC rules. NEIGHBORHOOD

The property is located along the northerly side of Buckman Road just west of the Richmond Highway (Route 1) in southeastern Fairfax County about six miles south of the Capital Beltway (Interstate 95/495) and the City of Alexandria. Richmond Highway is lined with a mix of commercial and residential uses. Properties in the surrounding area are generally maintained in good condition with older vintage style properties being renovated over time. Mount Vernon, along the Potomac River, is located about two miles southeast of Buckman Road Apartments. The Fort Belvoir U.S. Army Reservations is also located two miles south of the property. Fort Belvoir is a dominant use in the area with about 22,000 employed military and civilian workers. In summary, Buckman Road Apartments is located in a stable and desirable suburban neighborhood conveniently accessible to public transportation, employment, shopping and recreational uses. CURRENT LAWFUL TENANT STIPULATION All tenants, who are lawful residents of the property at the time the property is acquired by Buckman Road Development LLC, shall be permitted to reside at the property under the terms of their existing lease and or subsequent new lease to be signed as a result of Low Income Housing Tax Credit conversion, shall only be required to comply with the Eligibility and Selection Criteria as it relates to the provisions of Section 42 Tax Credit financing of the property. This includes, but is not limited to sections 1, 6, 10, 11, 20, 21, and 22 (what is section 22?) contained within the Eligibility and Selection Criteria herein. BUCKMAN ROAD APARTMENTS ELIGIBILITY REQUIREMENTS The annual income and family composition are the key factors for determining eligibility. The Community Manager, however, will also consider the following criteria in screening applicants:

ELIGIBILITY CRITERA

1. Applicants must meet the applicable income limits as established by the LIHPRHA Covenant and LIHTC programs and/or the regulations and underlying documents for the unit for which they are applying. 145 units will units will be rented to households with income at or below fifty percent (50%) of area median income, 17 of the units will be rented to households with income between 51% and 80% of AMI, and 38 of the units will be rented to households with income between 81% and 95% of AMI . The applicable income limits will be posted in the Rental Office.

2. Applicants must provide complete and accurate verification of all income of all

family members. The household’s annual gross income may not exceed the

applicable tax credit limit. The annual gross income is compared to income limits to determine eligibility.

3. Family composition must be compatible for units available on the property. No more

than two persons may occupy the same bedroom.

Families must be placed in apartments of appropriate size for the composition and size of the family as follows

Bedroom Family size

1 1-2 2 2-4 3 3-6

4. Households must not be entirely and exclusively comprised of full-time students. Except under the following conditions: a. Any adult member (as defined by the tax credit monitoring agency) of the

household is married and filed a joint Federal Tax return in the previous year; or

b. If the household consists of a single-parent of a child (or children) in school, none of whom are dependent upon a third-party; or

c. A household member is a recipient of Aid to Families with Dependent Children (AFDC); or

d. A household member is in a federal, state or local job training program comparable to the Job Training Partnership Act.

Selection Criteria

The Agent recognizes that the process of screening and accepting applicants is crucial to well being of the development. The Agent will screen applicants to not only insure that they meet the above criteria as established by the tax credit program but also to determine that they will be responsible residents. In addition, the Resident Selection procedure will apply to applicants, including all adult members of the applicant's family who are expected to reside in the unit. The annual income and family composition are the key factors to determining resident eligibility. However, the Community Manager will also consider the following criteria in screening applicants for occupancy.

1. Applicants must be individuals, not agencies or groups. 2. Applicants must not receive a poor credit rating from the Credit Bureaus and other

credit reporting agencies, as well as must demonstrate an ability to pay rent on time.

A credit report will be conducted for each adult member of the household who is eighteen (18) years of age or older without charge to the applicant. The credit report will be reviewed to determine the history of payment practices, utilities, outstanding loans, judgments, bankruptcies, foreclosures, etc. Ratings on this report 0, 1, 2, or 3 will be generally acceptable. Ratings of 4 through 9, excluding medical, that are dated within three (3) years will be cause for rejection.

The following items will be considered examples of unfavorable credit references and will serve as the basis for rejection of the application and applicant’s eligibility.

a. Utility accounts such as gas, electric, water and sewer with a rating of 4

through 9 regardless of the date the account became delinquent will be grounds for rejection of the application. Even if the account is paid off after the date of application, it will still remain grounds for rejection.

If utility accounts have a rating of 4 through 9 but were paid off prior to the date of the application, it will not be considered grounds for rejection so long as a zero (0) balance showing on the credit report and/or payment in full can be verified as being made prior to the date of application.

b. Any outstanding balance due a landlord for non-payment of rent and/or

damages will be grounds for rejection.

c. Any outstanding civil judgments or civil suits, excluding medical, at the time of processing the application will be grounds for rejection of the application.

d. A bankruptcy filed within the past three (3) years, unless the result of a medical catastrophe will be grounds for the rejection of the application.

A lack of established credit in and of itself will not be grounds for rejection. If the applicant's denial is based upon a credit report, the applicant will be advised of the source of the credit report in accordance with the Federal Fair Reporting Act. Guidelines published by the Federal Trade Commission suggest that apartment managers fall under the provisions of the act and therefore are obligated to tell a person refused an apartment for credit reasons, the name and address of the credit reporting firm. The credit report will not be shown to the applicant nor will specific information be revealed. Buckman Road Apartments will reappraise a credit report forwarded to Buckman Road Apartments by the credit bureau on behalf the resident which encompasses

certain corrections or additions in the report as a result of action taken directly by the applicant with the credit bureau or creditor. The application and eligibility are, however, considered rejected until updated information is received from the credit agency. The applicant will be assigned to the waiting list chronologically according to the date of receiving a satisfactory credit, and criminal history report. Any application on the waiting list for ninety (90) days or longer will require an up-dated credit report be conducted when a unit becomes available. If lieu of this, if a negative credit report is received anytime after the initial approval of the applicant’s credit report, the applicant will be notified in writing that under the above guidelines, the application and eligibility are rejected.

3. Applicants must demonstrate their ability to pay rent on time. Verifiable rental

history will include a copy of the applicant’s rental agreement showing a monthly amount which is due to rent along with copies of cancelled checks or payment receipts and a completed Landlord Verification form signed by the current Landlord and any additional Landlords over the last four (4) years. Those applicants whose history shows a late payment record of more than ten (10) days past due on two or more occasions over the past year as verified by the current and prior Landlords and/or by court records will constitute a rejection on the basis of poor rental history. In addition, applicants may not owe a former Landlord a prior balance for rent or other related occupancy charges. No further considerations of delinquent accounts as listed under #2 above will occur if the applicant cannot provide a verifiable and satisfactory rental history as stated above. The application will be denied in this instance.

4. Applicants must demonstrate their ability to meet the requirements of residency as identified in the lease agreement.

5. Applicants must receive a satisfactory reference from former Landlords. Reference will be obtained from present and past landlords over a five (5) year period. An applicant may be rejected if these reports document a failure to make payments or shows evidence that the applicant, applicant’s family and/or guests of the applicant disturbed the safety, security and/or right to peaceful enjoyment of other residents. The applicant will also be rejected if the landlord states that poor housekeeping habits posed a threat to the health, safety and welfare of the household members or other residents of the community. Additional grounds for rejection will include legal proceedings against the applicant or household members occurred and/or eviction of the applicant.

6. Applicants must fill out Application for Lease and all verification forms truthfully. 7. Applicant(s) or any member of the household who are convicted of the illegal

manufacture or distribution of a controlled substance is not eligible for residency at Buckman Road Apartments. Similarly any applicant(s) convicted of a violent crime, sexual assault, assault or weapons violations within the last three years will not be considered for occupancy. Applicants or any member of the household who are current illegal abusers or addicts of a controlled substance are also not eligible for residency at Buckman Road Apartments. However, if an applicant is in a treatment program for a controlled substance abuse and also has a job, then that applicant shall be considered for residency at Buckman Road Apartments.

8. Applicants who demonstrate a substantial risk of intentional or negligent damages or

destruction to the unit and surrounding premises by the applicant or those under applicant's control are not eligible for residency at Buckman Road Apartments. This would include applicants who:

a. Have a verifiable history of grossly unsanitary or hazardous housekeeping or

failure to use in a reasonable manner all utilities, services, appliances and equipment in a dwelling unit.

b. Have a verifiable history of damage or destruction to a dwelling unit and

related equipment and surroundings.

9. Applicants who demonstrate a substantial risk of failure to comply with the terms of the Lease, such as providing shelter to unauthorized occupants, keeping unauthorized pets, painting or decorating or substantially altering the unit without Agent's approval will not be eligible for residency at Buckman Road Apartments.

10. Applicants must provide verification of full-time student status for all individuals

listed on the application as full-time students.

11. All applicants are required to disclose and verify the Social Security Numbers of all household members.

12. Applicants must demonstrate their ability to maintain acceptable housekeeping

standards.

13. Housing opportunities are available to all persons regardless of their race, color, creed, religion, sex, national origin, marital status, physical or mental handicap or any other prohibited basis of discrimination. Anyone who feels that he or she has been discriminated against should contact the Property Manager at (301) 562-1600.

14. Failure to meet the eligibility/occupancy criteria will result in applicant ineligibility. 15. Applicant shall not:

a. Have ever been evicted as a result of a judgment entered against an

applicant in a landlord/tenant case;

b. During the past 24 months, have more than three (1) judgments of possession entered against an applicant for rent due and unpaid;

c. During the past 24 months, have any judgments entered against an

applicant for restitution of the premises because of an applicant's unlawfully holding over beyond the termination of lease or because of an applicant's breach of lease; and

d. Owe a current or former landlord a prior balance for unpaid rent and

other related occupancy expenses.

16. Applicants must provide a doctor's statement and/or other proof of any handicap or

disability if same is claimed.

17. Applicants must provide proof of age for persons 62 years of age or older who will be heads of the household in order to obtain the elderly head of household allowance.

18. Applicants must provide Birth Certificates for all persons in the household.

19. Applicants must provide all information required by current Federal and VHDA

regulations and policies.

20. Applicants must submit documentation substantiating citizenship or eligible immigration status for any non-citizen.

All units will be occupied on a first come, first served basis in accordance with the unit size standards. The vacant units will first be occupied through in-house transfers in accordance with the transfer policy. After all transfers have been completed, vacant units will be occupied by applicants on the waiting list.

Applicants for units designated for the mobility impaired will be selected on a first come, first served basis for those households containing a handicapped person with a mobility impairment requiring the special design features of the unit.

21. Family composition must be compatible for units available on the property. No more than two persons may occupy the same bedroom. Families must be placed in apartments of appropriate size for the composition and size of the family as follows:

Bedroom Family size

1 1-2 2 2-4 3 3-6

Failure to meet the eligibility/occupancy criteria will result in applicant ineligibility. MARKETING THE PROPERTY Renovation of the property is expected to be completed in 17 phases, with 12 units in each stage. The marketing period will begin one hundred and twenty days before the anticipated completion of the rehabilitation of the first set of units. Marketing will be an ongoing program, varying in intensity with the needs of the development. During initial rent up, the marketing efforts will be intense until a 95% occupancy level of the units has been achieved. Minimal marketing efforts will then be needed to complete the lease up of the remaining units. It is expected that leasing will continue in conjunction with the construction schedule and will not be negatively affected. Move-ins will be scheduled based on availability of units. Future units will be pre-leased based on availability dates. We will concentrate our primary marketing efforts on attracting qualified applicants for units. Our marketing efforts will include, but are not limited to, signage, newspaper advertisements, flyers and other promotional materials. Each of these aspects is discussed in further detail in subsequent pages of this plan. The entire property should reach 95% occupancy no later than one hundred twenty days after rehabilitation has been completed. DETAILS OF MARKETING EFFORTS Newspaper Advertising

Print advertising will be primarily concentrated in the Washington Post which has the widest circulation of all publications in Alexandria, VA. However, this source is expensive and ads will be carefully placed to be most cost effective as well as successful. Initially a 15 - 25 line ad will run in Sunday’s and Wednesday’s paper. Smaller squib ads for 1 and 2 bedroom apartment homes may be run Monday through Friday determined by the unit delivery schedule and availability. The above ad schedule will begin ninety days prior to the anticipated completion of rehab and continue throughout lease-up. Squib ads will continue as necessary. Additional advertising may be done in the local Alexandria and Fairfax County Newspapers. Signage All exterior temporary signage will be installed with the commencement of construction. It is important to establish the image for Buckman Road Apartments in conjunction with the lease-up. There will be one main identifier sign at the entrance. One office directional sign will be located in the parking lot near the rental office. In addition, “Now Renting” banners may be hung on the face of the building as well as directionals around the community directing traffic to the property. Marketing Brochure/Information Sheet A marketing brochure/information sheet featuring the logo and a brief description of the property and amenities should be available for distribution to all prospective applicants and for community distribution. The brochure/information sheet will be professionally designed and produced. Other Promotional Materials Flyers can be professionally designed and copied by the on site staff at any time. These flyers can be placed in local businesses, on community bulletin boards, or handed out at shopping centers. Balloons should be utilized on the property to draw attention to the offices and at the entrance to the property. Costs involved for producing flyers and balloons are minimal. MARKETING AND LEASING OFFICE The Leasing Center/Management Office will be designed to offer accessibility to prospects including marketing materials and a closing area. Management office will be clearly marked and directional signs will be utilized. LEASING ACTIVITIES

All leasing activities will take place on site. Leasing activities include showing apartments, when available, taking applications, qualifying applicants, signing leases, accepting security deposits, and other related activities. In addition, Management will maintain unit availability charts, indicating the status of units and daily traffic logs indicating the number of responses to various ads and status of applications. Guest cards are required from all prospects in order to assure compliance with Fair Housing Guidelines. All applicants will be able to view their unit prior to signing a lease. OFFICE HOURS The office house will be flexible and will adjust according to the needs of the property. Initially through lease up and the intensive marketing phase, the hours will be: Monday through Friday 8am to 5pm Saturday (1st of Month) 9am to 5pm during lease-up and whenever occupancy levels dictate otherwise. Sunday and most holidays Closed unless occupancy levels dictate otherwise. Special appointments can be made at any time. The office will close for lunch. An answering service will be available during non-working hours. Applicants will be able to leave messages so that staff can return calls the following business day. TARGETED MARKET GROUP The targeted market group for Buckman Road Apartments will be defined by the income limits required by LIHPRHRA Covenant and the LIHTC program. Under the LIHTC program, the Owners have elected to set aside 145 units at 50% of median income. MAXIMUM PERMISSIBLE INCOMES7 Under the LIHTC program and the LIHPRHA covenant, 145 of the units of the units must be rented to households whose income is at or below 50% of median income adjusted for family size, and the balance are restricted under LIHPRHA between 51% and 95% of AMI. Buckman Road Apartments will have (one, two, and three bedroom units); therefore families of one to a maximum of six persons may occupy a unit at Buckman Road Apartments. The maximum income by family size for the three income tiers at the property is: 50% AMI 80% AMI 95% AMI 1 Person $ 35,950 $ 44,800 $ 68,296 2 Persons $ 41,100 $ 51,200 $ 78,052

Page 11

3 Persons $ 46,200 $ 57,600 $ 87,809 4 Persons $ 51,350 $ 64,000 $ 97,565 5 Persons $ 55,450 $ 69,100 $ 105,370 6 Persons $ 59,550 $ 74,250 $ 113,175

MAXIMUM PERMISSIBLE RENTS The rents at the property will continue to be set by HUD. Moreover, the rents will also be restricted under the LIHTC guidelines. The maximum permissible rents for the LIHTC units, including utilities, are:

Bedroom Size Median Income Maximum * Permissible Rent

Number of Units

One Bedroom 50% of Median Income $963.00 TBD Two Bedroom 50% of Median Income $1,155.00 TBD Three Bedroom 50% of Median Income $1,279.00 TBD

MINIMUM PERMISSIBLE INCOME The minimum income that a prospective resident may have and be considered qualified to pay the rent will be determined on a case by case basis. In general, a family should not spend more than 30% of their gross income for rent including utilities. Example: Monthly rent for a one bedroom of $650 with $50 utility allowance = Total monthly housing cost of $700. The minimum qualifying income would be $650 x 12 / .40 = $19,500. This minimum qualifying income would be acceptable with good credit and little to no debt.

Marketing Plan for Handicapped Accessible Units 11 of the units at Buckman Road Apartments will be renovated and fully equipped to accommodate the needs of those with physical disabilities and with hearing and sight impairment and additional units will be equipped specifically for hearing and sight impaired only. The units will be equipped to comply fully with HUD regulations interpreting accessibility requirements of The Uniform Federal Accessibility standards in accordance with the Architectural Barriers Act, 42 U.S.C. 4151-4157. At initial occupancy and upon turnover, each of the accessible units will be held vacant until they are leased to an eligible household. The Owner and Managing Agent will create a flyer that lists the basic accessibility features of the units that meet the accessibility requirements of HUD Section 504 regulations. This flyer will be made available in alternative formats upon request; including large print, computer diskette or audiotape. The flyer will be distributed via US postal service or email to organizations whose emphasis is placed on assisting persons with special needs; including: City of Alexandria

- Department of Human Services - Mental Health Division

(703) 838-4000 V Virginia Board for People with Disabilities (804-786-0016) V Centers for Independent Living

- Disability Resource Center (540) 373-2559 - Access Independence (540) 552-4452 -

Northern Virginia Regional Commission (703) 642-0700 V

Endependence Center of Northern Virginia (Local Independent Living Center) (703) 525-3268 V (703) 525-3553 TTY (703) 525-3585 FAX Coalition for Housing Opportunities In the Community (703) 851-5257 V [email protected]


Alexandria Commission on Persons with Disabilities (703) 519-3357 V Access Virginia (Statewide Accessible Housing Registry) http://www.accessva.org Public and Community Relations The Owner and Managing Agent will work with local organizations, neighborhood civic organizations, places of worship, city and government officials dedicated to assisting physically impaired individuals to identity potential qualified residents. PERSONNEL Community Manager - Resident relations, marketing, rent collection, certification and recertification procedures, selection of applicants, maintenance of resident files, preparation and submission of required reporting, supervision of project staff, physical maintenance of property, and other duties assigned by the Regional Property Manager.

Assistant Community Manager / Leasing Specialist - Rent collection, maintenance of resident files, processing charge changes, processing suit lists and other duties assigned by the Community Manager.

Maintenance Engineer - Respond to requests for maintenance services by residents, keep property in good repair, establish and conduct preventive maintenance schedules, supervise outside contractors, maintain property equipment and machinery, respond to emergency situations after hours, and other duties assigned by the Community Manager.

Custodial/Grounds Technician - Janitorial duties, grounds keeping, unit turnover preparation, and other duties assigned by the Community Manager. CONSTRUCTION The marketing staff will coordinate closely with the construction staff to ensure quality control and to minimize confusion on scheduling. The delivery schedule will be obtained from construction at the start of the construction phase. This schedule will be updated daily to insure accuracy. The construction staff will inform marketing of delays in the delivery of units. The Community Manager or his/her designee will inspect the unit and sign a copy of the punch-out list if the work and the unit are acceptable to management. A copy of the inspection and sign off on the punch-out list will be kept on site in the unit file. If further work is needed, construction will

http://www.accessva.org/

Market Study submitted separately

VHDA Locality Notification Information Form

Buckman Road Apartments / Alexandria

PART I - INSTRUCTIONS:

New in 2009!

50-Point Penalty:

Delivery of Electronic Copy of this form to VHDA:via e-mail to [email protected]. E-mail only one form at a time!

via regular mail (on CD) to:

VHDATax Credit Allocation Departmentc/o Debbie Griner601 S. Belvidere StreetRichmond, VA 23220-6500

VHDA Contact Information:Call Debbie Griner at 804-343-5518 if you have questions about completing this form.

Locality Notification Information Form

If you already have a local support letter, you can include it with the application at TAB I. However, you must still complete this form and submit it to VHDA or the application for this development will be penalized 50 points!

For information about additional points associated with receiving a Support Letter from the local jurisdiction, please refer to the Application Manual.

Failure to complete and submit this form prior to 5:00 p.m. EST time on March 25, 2009 will result in a 50-point penalty (-50 points) for any application submitted in connection with the 2009 competitive tax credits.

Section 42 (m)(1)(A)(ii) of the Internal Revenue Code requires allocating agencies to notify "the Chief Executive Officer (CEO) or equivalent of the local jurisdiction within which the building is located and provide such individual a reasonable opportunity to comment on the development." VHDA uses information you provide in this form to comply with this requirement. If your development overlaps two or more jurisdictions, you are required to submit this form for each.

Developers seeking tax-exempt bond 4% credits or Non-Competitive 9% credits, should submit this form at least 30 days prior to submission of the tax credit application.

If you use this e-mail option, you will receive an auto reply message confirming "message received." The system DOES NOT confirm that an attachment has been received.

Although VHDA prepares the documents sent to each locality, we rely on you, the developer/Applicant, to provide us with key information, including the name of the locality having jurisdiction over the development, names, addresses and salutations, as well as a summary of basic development information.

In addition to contacting the Locality CEO, VHDA will also be contacting the Mayor or Chairman of the Board of Supervisors. It is probable that each position will have a separate mailing address.



PART II - CEO & JURISDICTION INFORMATIONPlease read INSTRUCTIONS above carefully before completing the following sections.

A. Chief Executive Officer (CEO) Information

Name of CEO:Anthony H. GriffinFirst Name Middle Initial Last Name

Job Title: County Executive

Local Jurisdiction: Fairfax County

Mailing Address/P.O. Box: 12000 Government Center Parkway

Suite/Room # (if applicable):

City: FairfaxState: VirginiaZip: 22035

Salutation: Mr.

B. Mayor or Chairman of the Board of Supervisors Information

Name:Sharon BulovaFirst Name Middle Initial Last Name

Job Title: Chairman of the Board of Supervisors

Local Jurisdiction: Fairfax CountyMailing Address/P.O. Box: 12000 Government Center Parkway

Suite/Room # (if applicable): 530City: FairfaxState: VAZip: 22035

Salutation: The Honorable

e.g. "City Manager", "Town Manager", "County Administrator", "Executive Officer", "Chief Administrative Officer", etc.

e.g. "City of…", "Town of…" or "[ ] County"

This is the mailing address of the CEO and may not always be the same as the physical address of the courthouse, town hall, municipal building, city hall, etc. Please double check the address before entering.

This is the full name of the City Manager, Town Manager, County Administrator, Chief Administrative Officer, Executive Officer, etc.

e.g. "The Honorable", "Mr.", "Mrs.", "Ms.", "Rev.", etc.

"Mayor" or "Chairman of the Board of Supervisors"

This zip code must correspond to the P.O. Box or street address that you are using. Note: Zip codes for P.O. boxes are usually different from the zip codes for the street addresses.

e.g. "The Honorable", "Mr.", "Mrs.", "Ms.", "Rev.", etc.

This is the street address for the Admnistrator. May be different from CEO address. Please double check the address before entering.

Be sure the zip code you pick up corresponds to the P.O. Box or street address that you are using. Note: Zip codes for P.O. boxes are usually different from the zip codes for the street addresses.



C. Jurisdiction Detail

Circuit Court Clerk's office in which the deed to the property is or will be recorded: FairfaxCity/County of

Does the site overlap one or more jurisdictional boundaries? Yes No If yes, add the names of the other jurisdiction(s) here:

City/County of City/County of

Development is located in a Metropolitan Statistical Area (MSA)? Yes NoDevelopment's Census Tract: 4216

Census Tract Number

Is this a Qualified Census Tract? Yes NoIs the development located in a Difficult Development Area? Yes NoIs the development located in a revitalization area? Yes No

Congressional District 8 http://dlsgis.state.va.us/congress/2001PDFs/chap7Tab.pdfPlanning District 8 http://www.vapdc.org/aboutpdcs.htm#PDC%20MapState Senate District 30 http://dlsgis.state.va.us/senate/2001PDFs/Chap2Tab.pdfState House District 44 http://dlsgis.state.va.us/House/2001HousePDFs/Chap1Tab.pdf

Local Planning/Zoning Contact Info:

Best Person to Contact: Cathy Lewis

Job Title: Branch Chief, Rezoning and Special Exception Branch

Contact Phone: 703-324-1290

PART III - DEVELOPMENT INFORMATION

Proposed Development Name: Buckman Road ApartmentsThis is the marketing name of your development

Proposed Development Address: 3426 Buckman Road Alexandria VA 22039Street Address City State Zip

VHDA Tax Credit Pool: Northern Virginia MSA

In the space below, give a brief description of the proposed development.

Development Type: (Family or Elderly) FamilyDescribe Architectural Style:Describe Exterior Finish:Describe Community Facilities:

1. Units:Number of low-income units 145 # bedrooms 290% Low-Income Units 71%Number of new units # bedroomsNumber of adaptive reuse units # bedroomsNumber of rehabilitation units 204 # bedrooms 408Total number of all units 204 Total # bedrooms 408

2. Floor Area:Gross Residential Floor Area 196198Commercial Floor AreaLow-Income Floor Area 139454% Low-Income Unit Floor Area 71%

3. Number/Age of BuildingsNumber of Buildings 17Age of Building(s) 35 Number of stories: 3

4. Structural Features (check all that apply):Row House/Townhouse Garden Apartments Slab on GradeDetached Single-family Detached Two-family Basement Elevator Crawl Space

5. Building Systems:Describe Heating/AC System:

Traditional 1960's Garden ApartmentsBrick2,000 square foot community center, basketball courts, tot-lot

Indivdual gas-fired furnaces with electric AC

This is the person with whom you've previously spoken about the development and whom can answer anticipated questions from the CEO.

Buckman Road apartments is a 204-unit garden-style project built in 1972 in southeastern Fairfax County. Although well-maintained, the property has had no systematic renovation. The owner intends to refinance and renovate the property using conventional mortgage debt and low income housing tax credits. Following the renovation, at least 71% of the units will be

e.g., "Director of Planning", "Planning Administrator", "Zoning Administrator", etc



PART IV - OWNER & SELLER INFORMATION

A. Owner Information

Owner Name: Buckman Road Development LLC Phone: 202-885-9567Best Person to Contact: Paul BrowneStreet Address: 5513 Connecticut Avenue NW, Suite 250City, State & Zip: Washington DC 20015

City State Zip

Type of entity: Limited Partnership Other: Limited Liability CompanyIndividual(s) Corporation

Names Phone Type of Ownership % OwnershipCPDC Buckman Road LLC 202-895-8900 Managing Member .1%Community Housing, Inc. 202-895-8900 Member 99.9%J. Michael Pitchford 202-895-8900 President & CEO 0%(President and CEO of both members)

B. Seller Information:

Seller Name: Buckman Road Preservation CorporationSeller Phone: 202-895-8900Street Address: 5513 Connecticut Avenue NW, Suite 250City, State & Zip: Washington DC 20015

City State Zip

Is there an identity of interest between the seller and owner/applicant? Yes No If yes, completethe following:

Nature of Identity of Interest (1): Seller and the managing member of Buyer are affiliates of Community Preservation and e.g. general partner, managing member, controlling shareholder, etc.

Name Community Preservation and Development CorporationStreet Address 5513 Connecticut Avenue NW, Suite 250City, State & Zip: Washington DC 20015

City State Zip

Nature of Identity of Interest (2):e.g. general partner, managing member, controlling shareholder, etc.

NameStreet AddressCity, State & Zip:

City State Zip

5. If an Individual (owner or otherwise) - anyone having a 25% or more ownership interest of the named individual

List of Principals. Use the following as a guide to listing principals.

6. If Any Person that Directly or Indirectly Controls or Has the Power to Control a Principal

1. If Partnership (owner or otherwise) - all GPs, regardless of % interest in GP

3. If a Corporation (public or private), Organization or Governmental Entity - officers who are directly responsible to the Board of Directors (or equivalent) and any stockholder having a 25% or more interest

2. If an LLC - all members regardless of % interest

4. If a Trust - all persons having a 25% or more beneficial ownership interest in the assets of the trust


Buckman Road - 2009 VA

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