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Is project in Qualified Census Tract & Difficult to Develop area?
Does a community revitalization plan exist?
Print Preview - Final Application
Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans
Project Name and Location
Project Name: Eastside Green Apartments
Address: Cedar Creek Road
City: Fayetteville County: Cumberland Zip: 28312
Census Tract: 14 Block Group: 2-2029
No
Yes
Political Jurisdiction: City of Fayetteville
Jurisdiction CEO Name: First: Last:Marshall Pitts Title: Mayor
Jurisdiction Address: 433 Hay Street
Jurisdiction City: Fayetteville Zip: 28301
Jurisdiction Phone: (910)433-1992
Site Latitude: 35.0364
Site Longitude: -78.8464
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Is this project a follow-on (Phase II, etc) to a previously-awarded tax credit development project?
If yes, list names of previous phase(s):If yes, list names of previous phase(s):
Will the project be receiving project based federal rental assistance?
If yes, provide the subsidy source:If yes, provide the subsidy source: and number of units:and number of units:
Target Population: Family
Indicate below any additional targeting for special populations proposed for this project:
Project Description
Project Type:* New Construction Rehab Adaptive Reuse
No
No
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federaland state codes.)
Persons with disabilities or homeless populations: the greater of 5 units or 10% of the total units
Remarks: 6 of the 60 units will be handicapped accessible. 6 of the units will target the disabled/homelesspopulations and will have a very low rent of $150 per month.
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Applicant Information
Applicant Name: United Developers, Inc.
Address: P.O. Drawer 42208
City: State: NC Zip:Fayetteville 28309
Contact: First: Last: Title:Murray Duggins
Telephone: (910)485-6600
Alt Phone: (910)485-6600
Fax: (910)483-4274
Email Address: [email protected]
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Total Site Acreage: Total Buildable Acreage:
If buildable acreage is less than total acreage, please explain:
Identify utilities and services currently available (and with adequate capacity) for this site:
Storm Sewer Water Sanitary Sewer Electric
Is the demolition of any buildings required or planned?
If yes, please describe:
Are existing buildings on the site currently occupied?
If yes:(a) Briefly describe the situation:
(b) Will tenant displacement be temporary?
(c) Will tenant displacement be permanent?
Is the site directly accessed by an existing, paved, publicly maintained road?
If no, please explain:
Is any portion of the site located inside the 100 year floodplain?
If yes:(a) Describe placement of project buildings in relation to this area:
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
Site Description
8 -8
A small area of wetlands (acreage not yet determined) borders a portion of the site.
No
No
Yes
No
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Does the owner have fee simple ownership of the property (site/buildings)?
If yes provide:
Purchase Date: Purchase Price:
If no:
Site Control
No
(a) Does the owner/principal or ownership entity have vaild option/contract to purchase the property? Yes
(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for
purchase of the property and the seller of the property?If yes, specify the relationship:
No
(c) Enter the current expiration date of the option/contract to purchase: 10/15/2004
(D) Enter Purchase Price: 180,000
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Present zoning classification of the site:
Is mutifamily use permitted?
Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?
If yes, have the hearings been completed and permits been obtained?
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for obtainingthem:
Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office review?
If yes, describe below:
Are there any existing conditions of environmental significance located on the project site?
If yes, describe below:
Zoning
R6
Yes
No
No
No
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Ownership Entity
Owner Name: Eastside Green Associates Limited Partnership
Address: P.O. Drawer 42208
City: State: NC Zip:Fayetteville 28309
Federal Tax ID Number of Ownership Entity: (If assigned)
Federal Tax ID Number of Managing GP or Member: (If Not Assigned)56-2053411
Entity Type: Limited Partnership
Entity Status: To Be Formed
Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? No
Is the applicant requesting that the Agency treat the application as CHDO sponsored? No
List all general partners, members,and principals. Specify nonprofit corporate general partners ormembers. Click [Add] to add additional partners, members, and principals.
Org: Eastside Green/Duggins LLC
First Name: N/A Last Name: N/A Function: Managing General Partner
Address: P.O. Drawer 42208
City: Fayetteville State: NC Zip: 28309
Phone: (910)485-6600 Fax: (910)483-4274
EMail: [email protected] Nonprofit: No TaxID 56-2053411
Org: Duggins Family Limited Partnership
First Name: Murray Last Name: Duggins Function: General Partner
Address: P.O. Drawer 42208
City: Fayetteville State: NC Zip: 28309
Phone: (910)485-6600 Fax: (910)483-4274
EMail: [email protected] Nonprofit: No TaxID 56-2053411
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** Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low incomeunits are within established thresholds.
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Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to createanother row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.
Total Low Income Units:
Note: This number should match the total number of low income units in the Unit Mix section.
Targeting
# BRs Units %
2 15 targeted at 40 percent of median income.
2 17 targeted at 50 percent of median income.
2 16 targeted at 60 percent of median income.
3 6 targeted at 50 percent of median income.
3 6 targeted at 60 percent of median income.
60
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Estimated pricing on sale of Federal Tax Credits: $0.
Remarks concerning project funding sources:(Please be sure to include the name of the funding source(s))
Loans with Variable AmortizationPlease fill in the annual debt service as applicable for the first 20 years of the project life.
Funding Sources
Source AmountNon-
Amortizing*Rate(%)
Term(Years)
Amort.Period(Years)
AnnualDebt
Service
Bank Loan 451,000 7.25 20 30 36,919
RPP Loan 500,000 2.00 20 20Local Gov. Loan - Specify:City of Fayetteville
100,000 2.00 20 20
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan
Other Loan 1 - Specify:
Other Loan 2 - Specify:
Other Loan 3 - Specify:
Tax Exempt Bonds
State Tax Credit(Loan) 847,625 0 30 30 0
State Tax Credit(Direct Refund)
Equity: Federal LIHTC 2,644,751
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees 50,637
Owner Investment
Other - Specify:
Total Sources** 4,594,013
* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt servicebelow.
** Total Sources must equal total replacement cost in Project Development Cost (PDC) section.
79
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RPP Loan
Year:Amt:
1
21853
2
22007
3
22102
4
22133
5
22095
6
21983
7
19793
8
19519
9
19155
10
18696
Year:Amt:
11
18134
12
17465
13
16680
14
15772
15
14734
16
13558
17
12235
18
10757
19
9114
20
7296
Local Gov. Loan - City of Fayetteville
Year:Amt:
1
0
2
0
3
0
4
0
5
0
6
0
7
2000
8
2000
9
2000
10
2000
Year:Amt:
11
2000
12
2000
13
2000
14
2000
15
2000
16
2000
17
2000
18
2000
19
2000
20
2000
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Development Costs
Item Cost Element TOTAL COSTEligible Basis
30% PV 70% PV
1 Purchase of Buildings (Rehab) 0
2 Demoli tion
3 On-site Improvements 450,000 450,000
4 Rehabilitation
5 Construction of New Building(s) 2,600,000 2,600,000
6 Accessory Building(s)
7 General Requirements 183,000 183,000
8 Contractor Overhead 64,660 64,660
9 Contractor Profit 193,980 193,980
10 Construction Contingency 104,749 104,749
11 Architect's Fee - Design 105,620 105,620
12 Architect's Fee - Inspection
SUBTOTAL (lines 1 through 12) 3,702,009
13 Construction Insurance (prorate)
14 Construction Loan Orig. Fee (prorate)
15 Construction Loan Interest (prorate) 75,000 75,000
16 Construction Loan Credit Enhancement (prorate)
17 Construction Period Taxes (prorate) 5,000 5,000
18 Water, Sewer and Impact Fees 10,000 10,000
19 Survey 5,000 5,000
20 Property Appraisal 6,000 6,000
21 Environmental Report 5,000 5,000
22 Market Study 4,000 4,000
23 Bond Costs (specify)
24 Cost of Issuance
25 Placement Fee
26 Permanent Loan Origination Fee
27 Permanent Loan Credit Enhancement
28 Title and Recording
SUBTOTAL (lines 13 through 28) 110,000
29 Real Estate Attorney 46,000 46,000
30 Other Attorney's Fees
31 Tax Credit App Fees 24,118 24,118
32 Accounting Fees 5,000 5,000
33 Tax Opinion
34 Organizational (Partnership)
35 Tax Credit Monitoring Fee 36,000
SUBTOTAL (lines 29 through 35) 111,118
36 Furnishings and Equipment 6,000 6,000
37 Relocation Expenses
38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 345,000 345,000
39 Other Basis Expense (specify)
40 Other Basis Expense (specify)
41 Rent-up Expenses
42 Other Non-basis Expense (specify)
43 Other Non-basis Expense (specify)
SUBTOTAL (lines 36 through 43) 351,000
44 Rent up Reserve 18,000
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Please provide a detailed description of the proposed project:
Construction (check all that apply):
Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches
Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding
Other:
Have you built other tax credit developments that use the same building design as this project?
If yes, please provide name and address:
Market Study Information
Cedar Creek Green Apartments will be located on approximately 8 acres in eastern CumberlandCounty. The location off of Cedar Creek Road chosen for this project is part of a comprehensiveredevelopment plan initiated by the City of Fayetteville. The Fayetteville City Council unanimouslyadopted the plan on October 28, 2002. A copy of that plan is included in this application.
Cedar Creek Green will be a 60 unit family project located in 8 buildings with a seperateoffice/community building. The rent structure has been made very affordable. While the applicationtargets families at both 50% and 60% of the median income, 15 of the units will target those at 40%or below the median income and 6 of those units will target the disabled/homeless populations andhave a very low rent of $150 per month.
The surrounding site is a mix of residential and commercial property. Shopping,medical services anda public transportation stop are located just a few feet from the site. As with any revitalization area,the surrounding area is a mix of well maintained homes and businesses and those in a state ofdisrepair. The addition of Cedar Creek Green will be an asset to the neighborhood and a catalyst forimproving the appearance of the existing residential properties.Part of the revitalization plan calls forstreetscape improvements, development of a gateway at Cedar Creek Road and the creation of aneighborhood commons.
The first steps of the plan are currently underway and include the completetion of the EastsideNeighborhood Park, street paving and extension and neighborhood clean-up projects. The passageof Senate Bill 1312 will allow the city to condemn and remove buildings in a "community
development target area" much easier and quicker.
Yes
Golfview Apartments4131 Fescue CourtHope Mills, NC
Crosswinds Green I & II3415 Town StreetHope Mills, NC
Longview Apartments117 Longview DriveFayetteville, NC
Blanton Green I & II
1024 Lauren McNeill LoopFayetteville, NC
Rosehill West Apartments1945 James Hamner WayFayetteville, NC
Raeford Green Apartments300 Southern AvenueRaeford, NC
Woodgreen ApartmentsBradford DriveAberdeen, NC
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Site Amenities (check all that apply):
Onsite Activities:
Landscaping Plans:
Interior Apartment Amenities (check all that apply):
Flooring: Carpet Vinyl Wood Wood Parquet Ceramic Tile Other
Heating/Cooling: Central Air Gas Heat Heat Pump Electric Pump
Do you plan to submit additional market data (market study, etc.) that you want considered?
If yes, please make sure to include the additional information in your pre-application packet.
Southview Green Apartments (under construction)Elk RoadHope Mills, NC
Bunce Green Apartments (under construction)Bunce RoadFayetteville, NC
River View Green Apartments (under construction)
Riverview CourtRoanoke Rapids, NC
Palmer Green Apartments (under construction)Palmer StreetRaeford, NC
Community Bldg - Sq Ft: 1,428 Community Room - Sq Ft: Garages - Number:
Laundry Rm Screened Porch Resident Computer Center Exam Rm Reading Rm/Library
Game/Craft Rm Exercise Rm TV Rm Beauty Salon Vending Rm
Chapel/Prayer Rm Picnic Area Onsite Leasing Office Onsite Mgr Onsite Maint. Person
Irrigated Lawns Security Gate Car Care Area Storage Units Gazebos
Walking Trails Garden Spots Basketball/Tennis Court Playground Ball Field
Pool Fitness Stations Horseshoe Pit Shuffleboard Covered Drive Thru
Support Services Coordinator on staff
Above average landscaping with sprinkler system
Range Hood Dishwasher Disposal Refrigerator (frost free) Storage interior/exterior
W/D Hookups Mini-blinds Pantry Ceiling fans Walk-in closets
VCT
No
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Briefly describe your site in each of the following categories:
For each applicable neighborhood feature, enter distance from project in miles.
Applicant's Site Evaluation
NEIGHBORHOOD CHARACTERISTICS
Physical condition of buildings and improvements. Trend and direction of real estate developmentrelative to the project. Area economic health (degree of decline or investment). Concentration of
affordable housing.Presently, the neighborhood is a mix of well maintained homes and business and those in need ofrepairs. The area surrounding the site appears to be growing as evidenced by the new shoppingcenter located directly at the site. All spaces appear to be occupied and an out parcel has been builtand has no vacancies.
The City of Fayettville is encouraging development east of the Cape Fear River.Currently there is noaffordable housing east of the river.
Suitability of surrounding development. Land use pattern is primarily residential (single andmultifamily housing) with a balance of other uses (particularly retail and amenities). Amount andcharacter of vacant, undeveloped land. Effect of industrial, large-scale institutional or otherincompatible uses: wastewater treatment facilities, high traffic corridors, junkyards, prisions, landfills,large swamps, distribution facilities, frequently used railroad tracks, power transmission lines andtowers, factories or similar operations, sources of excessive noise, and sites with environmentalconcerns (such as odors or pollution).
The homes surrounding the site are primarily single family residences. The commercial propertiesare limited to retail and professional offices.The vacant land is wooded and undeveloped.
SITE SUITABILITY
Adequacy of street(s) and/or access road(s) serving the proposed project and traffic controls (lights,stop signs, turning lanes). Access to mass transit (if applicable).Cedar Creek Road is a wide four lane road with adequate traffic controls.
A Fayetteville Area System of Transit has a bus stop located in the parking lot of the shoppingcenter directly in front of the Dollar General Store.
Degree of on-site negative features and physical barriers that will impede project construction oradversely affect future tenants; for example: power transmission lines and towers, flood hazards,steep slopes, large boulders, ravines, year-round streams, wetlands, and other similar features. Foradaptive re-use projects- suitability for residential use and difficulties posed by the building(s), suchas limited parking, environmental problems or the need for excessive demolition.The site is wooded and is zoned for residential development.There are very small areas of wetlands that border the site but do not present any problems with thelayout of the buildings. There are no environmental concerns at the site.
Similarity of scale and aesthetics/architecture between project and surroundings.The design, layout and construction of this project will be an asset to the community.
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Other facilities or services:
Grocery Store.0 Community/Senior Center.9
Mall/Strip Center.0 Hospital3.5
Outdoor Athletic Fields2.1 Pharmacy.0
Day Care/After School.5 Basic Health Care.0
Schools2.1 Medical Offices.0
Public Transportation Stop.0 Bank/Credit Union1.5
Convenience Store.2 Restaurants.0
Basketball/Tennis Courts2.1 Professional Services.0
Public Parks2.3 Movie Theater2.9
Gas Station.2 Video Rental.0
Library2.2 Public Safety (Fire/Police).3
Fitness/Nature Trails2 Post Office.3
Public Swimming Pools
(.0) Cedar Creek Shopping Center is located directly at the site and contains a grocery store with
pharmacy, video store, restaurants and a public transportation stop.
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Development List number low-income/tax credit housing projects and units developed, operated, and maintained in compliance by the principal(s) betweenDecember 1, 1996 and January 1, 2003:
Management List number of low-income housing tax credit units managed in the past 10 years:
Has any owner, principal, or management agent been debarred or received a limited denial participation in the past 10 years by any federal or
state agency?
Has any owner, principal, or management agent been involved in a bankruptcy, an adverse fair housing settlement, an adverse civil rights
settlement, or an adverse federal or state government proceeding and settlement in the past 10 years?
Has any owner or principal been in a mortgage default or delinquency of three months or more within the last 5 years on a FHA-insuredproject, a Rural Development funded rental project, a tax-exempt funded mortgage, a tax credit project, or any other publicly subsidized
project?
Has any owner or principal been involved within the last 10 years in a project which previously received an allocation of tax credits but failed tomeet compliance standards of the tax credit allocation, including return of a reservation of tax credits to the Agency after the carryover
agreement has been signed?
Has any owner or principal had a Form 8823 filed with the IRS for noncompliance on a project using low-income housing tax credits or
received a letter of non-compliance from the Agency?
Project Team Experience
North Carolina Other States
Projects: 17 2
Units: 736 56
North Carolina Other States
Projects: 24 6
Units: 920 176
No
No
No
No
Yes
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Financing Commitments
Does the project have a firm commitment for construction financing? Yes
Does the project have a letter of intent for private permenant financing? Yes
Does the project have a firm commitment for government financing? Yes
Does the project have a letter of intent from an investor? Yes
Is any portion of the eligible basis of new contruction or rehabilitation financed with federal subsidies other than CDBG funds or fundsfrom the HOME program? No
If yes, indicate the type and amount below:
Tax Exempt Financing: $
RD 515 Financing: $
Hope VI Financing: $
Other: $
If Other, specify the type of Federal subsidy:
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Project Operations (Year One)
Projected Operating Costs
Administrative Expenses
Advertising 2,000
Office Salaries 3,500
Office Supplies 2,000
Office or Model Apartment Rent
Management Fee 25,000
Manager or Superintendent Salaries 12,000
Manager or Superintendent Rent Free Unit
Legal Expenses (Project) 2,500
Auditing Expenses (Project) 3,500
Bookkeeping Fees/Accounting Services
Telephone and Answering Service 4,500
Bad Debts
Other Administrative Expenses (specify):
SUBTOTAL 55,000
Utilities ExpenseFuel Oil
Electricity (Light and Misc. Power) 7,500
Water 2,000
Gas
Sewer 2,500
SUBTOTAL 12,000
Operating and Maintenance Expenses
Janitor and Cleaning Payroll
Janitor and Cleaning Supplies
Janitor and Cleaning Contract 6,000
Exterminating Payroll/Contract 3,500
Exterminating Supplies
Garbage and Trash Removal 4,000
Security Payroll/Contract
Grounds Payroll
Grounds Supplies
Grounds Contract 20,000
Repairs Payroll 6,000
Repairs Material 3,000
Repairs Contract 3,000
Elevator Maintenance/Contract
Heating/Cooling Repairs and Maintenance 6,000
Swimming Pool Maintenance/Contract
Snow Removal
Decorating Payroll/Contract
Decorating Supplies 1,000
Other (specify):
Miscellaneous Operating & Maintenance Expenses
SUBTOTAL 52,500
Taxes and Insurance
Real Estate Taxes 27,000
Payroll Taxes (FICA) 5,000
Miscellaneous Taxes, Licenses and Permits
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Property and Liability Insurance (Hazard) 12,000
Fidelity Bond Insurance
Workmen's Compensation 1,000
Health Insurance and Other Employee Benefits 500
Other Insurance:
SUBTOTAL 45,500
Supportive Service Expenses
Service Coordinator 5,000
Service Supplies
Tenant Association Funds
Other Expenses (specify):
SUBTOTAL 5,000
Reserves
Replacement Reserves 15,000
SUBTOTAL 15,000
TOTAL OPERATING EXPENSES 185,000
ADJUSTED TOTAL OPERATING EXPENSES (Does not include taxes, reserves and resident support services) *
138,000
TOTAL UNITS(from total units in the Unit Mix section) 60
PER UNIT PER YEAR 2,300
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Design Features
ITEM DESCRIPTION
Foundation/Slab Components 20"X12" Footings w/2#5 Rebar cont Reg. Brick 4"X8" Block & Header Blocks on 4" Slab
Primary Windows Make: Model:Pennco Series 2070 Type/Construction: Vinyl, Single Hung,Thermal Break,Tilt Sash
Exterior Doors Type: Frames:Peachtree Steel Wood
SidingType: Grade/Thickness:
Hardi-Plank & BrickVeneer and /or .044"vinyl siding and trim
Warranty: 50 Year
Exterior Trim Pro Trim/Hardi Plank and/or vinyl trim
Shingles Type: Weight:Asphalt 240# Warranty: 30 Year Architectural
Sprinkler System
Cabinets Tri-Pak Composit Box, 3/4" Shelf, Oak Face
Heat Pump SEER: Make:12 Goodman
Model:
Air Conditioner SEER: Make:12 Goodman
Model: CPK J18
Other Heat Systems SEER: Make:N/A
Model:
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This is a detailed breakdown of rehabilitation or construction costs you summarized in the Development Costs table (Rehabilitation andConstruction of New Building(s)). The total should match those roll-up values.
Costs - Construction
ITEM LABOR MATERIAL TOTAL
Concrete Footings 20,070 12,690 32,760
Backfill-slab, Crawl 0 0 0
Slab-concrete/Rebar/Gravel 63,900 52,200 116,100
Waterproofing 0 0 0
Masonry Foundation 9,450 8,100 17,550
Brick Veneer 30,420 45,900 76,320
Steel/Structure/Rails 39,420 46,260 85,680
Framing/Lumber/Nails 153,090 252,720 405,810
Trusses 98,700 98,700
Crane Rental 10,800 10,800
Windows/Grilles/Screen 25,020 25,020Exterior Doors 63,270 63,270
Roofing 17,550 12,150 29,700
Fencing 21,150 6,300 27,450
Vinyl Siding/Trim/Box 66,960 60,390 127,350
Gutters/Shutters 6,750 7,650 14,400
Insulation 22,590 33,930 56,520
Drywall 80,640 53,730 134,370
Interior Doors 38,520 89,820 128,340
Int. & Final/Stair/Trim/Shelves 0 0 0
Cabinets & Tops 44,190 66,240 110,430
Painting 57,150 46,800 103,950
Marble - Tub/Shwr/Tops 0 0 0
Plumbing 82,170 116,460 198,630
Electrical 55,170 73,170 128,340
Heating/Air Conditioning 58,050 95,490 153,540
Floor Covering and Underlayment 24,300 56,700 81,000
Wall Paper 16,200 16,200 32,400
Mailboxes/Special Features/Signage 450 5,310 5,760
Gypcrete 0 0 0
Blinds/Shades/Art Work 5,400 12,600 18,000
Light Fixtures/Fans 0 0 0
Sprinkler System 0 0 0
Security Alarm 0 0 0
Hardwood Floors 0 0 0
Elevator 0 0 0
Ceramic Tiles 0 0 0
Acoustical Ceilings 0 0 0
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Remarks:
Mirror/Shower Door/Encls. 0 0 0
Hardware/Bath Access. 32,040 32,040
Appliances 95,850 95,850
Playground Equipment 3,800 3,800
Interior Clean 16,470 16,470
Exterior Clean/Dumpster Rental 15,120 15,120
Other 1 (specify in Remarks) 9,720 8,640 18,360
Other 2 (specify in Remarks) 61,200 74,970 136,170
Total Cost 1,016,100 1,583,900 2,600,000
1. Driveway/Sidewalk/Porch2. Site Utilities
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This is a detailed breakdown of the General Requirements cost element you summarized in the Development Costs table (GeneralRequirements). The total should match that roll-up value.
Remarks:
Costs - General
ITEM TOTAL
Supervision 103,263
Job Site Office/Trailer Rental 7,319
Office Supplies 0
Security/Watchman 15,889
Project Signage 0
Tools and Equipment 3,758
Gas, Oil, and Maintenance 0
Temporary Water, Electric, and Telephone 6,211
Storage/Hauling 0
Driveway Access Permit 12,615
Porta-John Rental/Dumping 6,211Builders Risk Insurance 7,318
Re-inspection Fees 0
Extra Plans and Specifications 0
Miscellaneous, Casual Labor 0
Equipment Rental 0
Other 1 (specify in Remarks) 10,112
Other 2 (specify in Remarks) 10,304
Total Cost 183,000
1. Water & Sewer Connection Fees2. Dumpster Rental & Landfill Fees
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This is a detailed breakdown of the Site Improvements cost element you summarized in the Development Costs table (On-siteImprovements). The total should match that roll-up value.
Remarks:
Costs - Improvements
ITEM TOTAL
Subsurface Exploration/Perk Testing/Site Engineering
Clearing/Grading/Final Grading/Excess and Borrow 129,383
Demolition 0
Earthwork/Excavation/Aerating 32,919
Soil Treatment 9,132
Pile Foundations 0
Caissons 0
Shoring/Bracing 0
Site Drainage 44,738
Site Utilities/Site Lighting 9,309
Paving and Surfacing/Curb and Gutter 116,383Walkways 0
Site Signage 3,488
Parking Lot Painting 1,861
Dumpster Pads/Fencing 9,074
Fencing/Gates 0
Landscaping/Topsoil 93,713
Rock and Hardpan Excavation 0
Site Supervision Personnel 0
Other (specify in Remarks)
Total Cost 450,000
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This is a detailed breakdown of the Bond Costs cost element you summarized in the Development Costs table (Bond Costs). The totalshould match that roll-up value.
Remarks:
Costs - Bond Costs
ITEM TOTAL
Letter of Credit Fee 0
Credit Enhancement 0
Underwriter Discount 0
Capital Interest Fund 0
Other 1 (specify in Remarks) 0
Other 2 (specify in Remarks) 0
Total Cost 0
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This is a detailed breakdown of the Bond Issuance cost element you summarized in the Development Costs table (Cost of Issuance). Thetotal should match that roll-up value.
Remarks:
Costs - Bond Issuance
ITEM TOTAL
Bond Counsel 0
Issuer Counsel 0
Credit Enhancement/LOC Counsel 0
Underwriter Counsel 0
Developer's Counsel 0
Rating Agency Fee 0
Printing 0
Trustee Fee 0
Trustee Counsel 0
Issuer's Fee 0
Other 1 (specify in Remarks) 0Other 2 (specify in Remarks) 0
Other 3 (specify in Remarks) 0
Total Cost 0
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MINIMUM REQUIRED SET ASIDES (No Points Awarded):
Minimum Set-Asides
Select one of the following two options:
20% of the qualified units are rent restricted and occupied by households with incomes at or below 50% of the median income (Note:No Tax Credit Eligble Units in the the project can exceed 50% of median income)
40% of the qualified units are rent restricted and occupied by households with incomes at or below 60% of the median income (Note:No Tax Credit Eligble Units in the the project can exceed 60% of median income)
If requesting RPP funds:
40% of the qualified unit are occupied by households with incomes at or below 50% of median income.
State Tax Credit and QAP Targeting Points:
Moderate Income County:
At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below fortypercent (40%) of county median income.
At least fifty percent (50%) of qualified units will be affordable to households with incomes at or below fifty percent (50%) of countymedian income.
At least fifty percent (50%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent(50%) of county median income.
Tax Exempt Bonds
Threshold requirement (select one):
At least ten percent (10%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent(50%) of county median income.
At least five percent (5%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.
Eligible for mortgage subsidy points (select one):
At least twenty percent (20%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent(50%) of county median income.
At least ten percent(10%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.
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PLEASE indicate which of the following exhibits are attached to your application. Others may be required as noted.
Full Application Checklist
A Nonprofit Organization Documentation or For-profit Corporation Documentation
B Current Financial Statements/Principals and Owners
C Ownership Entity Agreement, Development Agreement or any other agreements governing development services
D Management Agent Agreement
E Development and manager multi-family experience & Management Questionnaire (Appendix C)
F Letters from State Housing Agencies or designated monitoring agent verifying Out of State Management Experience
G Completed IRS Form 8821 (Appendix I)
H Letters from Local Utility Providers (original on letterhead, no fax or photocopies)
I Local Government Letter or Letter from Certified Engineer or Land Surveyor Confirming Floodplain Designation with Mapshowing 100 year and 500 year floodplain (original on letterhead, no fax or photocopies)
J Local Government Letter Confirming Zoning (original on letterhead, no fax or photocopies)
K Copy of certificate of occupancy or proof of placed-in-service date (Rehabs Only)
L Site plan, floor plans and elevations
M Hazard and structural inspection and termite reports (Renovation projects only)
N Anticipated budget demonstrating how the project would meet the 10% test by November 14th.
O Evidence of Architect's Errors and Omissions insurance (or equivalent).
P Description of acquisition for existing/occupied projects or for projects with occupied buildings to be demolished.
Q Description of proposed Relocation Plan & Relocation Budget, Etc. If any relocation is anticipated, reference Appendix F.
R Targeting Plan and supporting documentation (Required for all projects)
S Local Housing Authority Agreement (Reference Model in Appendix I)
T Appraisal (for land costs greater than $5,000 and for buildings in rehab projects)
U Evidence of Permanent Loan Commitment, other sources of funds, and project-based subsidies.
V Statement regarding terms of Deferred Developer Fee and, if nonprofit, resolution of Board approving fee.
W Inducement Resolution (Tax-Exempt Bond Financed Projects only)
X Documentation to support estimated utility costs.
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