Gateway Village

8/6/2019 Gateway Village

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

New Construction/Adaptive Reuse:

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 meet Energy Star standards as defined in Appendix B?

Does a community revitalization plan exist?

Target Population: Elderly (55)

Will the project be receiving project based federal rental assistance?

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

Indicate below any additional targeting for special populations proposed for this project:

Print Preview - Full Application

Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans

Project Description

Project Name: Gateway Village

Address: Beatrice Costner Avenue

City: Gastonia County: Gaston Zip: 28052

Census Tract: 320 Block Group: 2

Yes

Political Jurisdiction: City of Gastonia

Jurisdiction CEO Name: First: Last:Jennie Stultz Title: MayorJurisdiction Address: PO Box 1748

Jurisdiction City: Gastonia Zip: 28053

Jurisdiction Phone: (704)866-6752

Site Latitude: 35.262

Site Longitude: -81.188

Project Type: New Construction

No

Rehab:

Is this project a previously awarded tax credit development?

If yes, what year were credits awarded?:

Number of residents holding Section 8 vouchers:

Yes

Yes

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

Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77? No

If yes, please describe:

Yes

1010

Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal andstate codes.)


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Number of Units: 8

Persons with disabilities or homeless populations: the greater of 5 units or 10% of the total units.

Number of Units: 5

Remarks:


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Indicate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. UnderQAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicantmust become part of the ownership entity. The applicant will execute the signature page for this application.

Applicant Information

Applicant Name: Western North Carolina Housing Partnership

Address: PO Box 841

City: State: NC Zip:Rutherfordton 28139

Contact: First: Last: Title:Jeanne Price Executive Director

Telephone: (828)287-2281

Alt Phone: (828)230-1098

Fax: (828)287-2735

Email Address: [email protected]

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


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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

3.62 3.62

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 valid option/contract to purchase the property? Yes

(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract 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: 12/31/2007

(D) Enter Purchase Price: 1


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Present zoning classification of the site:

Is multifamily 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

Multifamily Planned Residential Development

Yes

No

No

No


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Ownership Entity

Owner Name: Gateway Village LLC

Address: PO Box 841

City: State: NC Zip:Rutherfordton 28139

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

Note: Do not submit social security numbers for individuals.

Entity Type: Limited Liability Company

Entity Status: To Be Formed

Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? Yes

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: Western North Carolina Housing Partnership

First Name: Jeanne Last Name: Price Function: Managing Member

Address: PO Box 841

City: Rutherfordton State: NC Zip: 28139

Phone: (828)287-2281 Fax: (828)287-2735

EMail: [email protected] Nonprofit: Yes


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income units 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] tocreate another 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 %

1 8 targeted at 40 percent of median income affordable to/occupied by




40


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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))

Funding Sources

Source AmountNon-

Amortizing*Rate(%)

Term(Years)

Amort.Period(Years)

AnnualDebt

Service

Bank Loan 89,395 8.25 18 30 8,059

RPP Loan

Local Gov. Loan - Specify:CDBG 108

250,000 2.00 20 20 15,176

RD 515 Loan

RD 538 Loan - Specify:

AHP Loan

Other Loan 1 - Specify:



Tax Exempt Bonds

State Tax Credit(Loan) 861,066 0 30 30 0

State Tax Credit(Direct Refund)

Equity: Federal LIHTC 3,100,830

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees 0

Owner Investment 100 Other - Specify:

Total Sources** 4,301,391

* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debtservice below.

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

91

City of Gastonia - CDBG/108 funds


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Development Costs

Item Cost Element TOTAL COSTEligible Basis

30% PV 70% PV

1 Purchase of Building(s) (Rehab / Adaptive Reuse only) 0

2 Demolition (Rehab / Adaptive Reuse only)

3 On-site Improvements 336,825 336,8254 Rehabilitation

5 Construction of New Building(s) 2,630,000 2,630,000

6 Accessory Building(s) 0

7 General Requirements 157,800 157,800

8 Contractor Overhead 52,600 52,600

9 Contractor Profit 202,974 202,974

10 Construction Contingency 91,301 91,301

11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 73,209 73,209

12 Architect's Fee - Inspection 18,302 18,302

13 Engineering Costs

SUBTOTAL (lines 1 through 13) 3,563,011

14 Construction Insurance (prorate) 8,000 8,00015 Construction Loan Orig. Fee (prorate) 5,000 5,000

16 Construction Loan Interest (prorate) 56,000 56,000

17 Construction Loan Credit Enhancement (prorate)

18 Construction Period Taxes (prorate) 5,000 5,000

19 Water, Sewer and Impact Fees 0 0

20 Survey 15,000 15,000

21 Property Appraisal 5,000 5,000

22 Environmental Report 2,000 2,000

23 Market Study 4,200 4,200

24 Bond Costs

25 Bond Issuance Costs

26 Placement Fee27 Permanent Loan Origination Fee

28 Permanent Loan Credit Enhancement

29 Title and Recording 5,000

SUBTOTAL (lines 14 through 29) 105,200

30 Real Estate Attorney 36,000 10,000

31 Other Attorney's Fees

32 Tax Credit Application Fees (Preliminary and Full) 2,200

33 Tax Credit Allocation Fee (0.58% of line 59, minimum $7,500) 29,980

34 Cost Certification / Accounting Fees 6,000 6,000

35 Tax Opinion 3,000

36 Organizational (Partnership) 1,000

37 Tax Credit Monitoring Fee 22,000SUBTOTAL (lines 30 through 37) 100,180

38 Furnishings and Equipment 15,000 15,000

39 Relocation Expense

40 Developer's Fee 420,000 420,000

41 Other Basis Expense (specify)

42 Other Basis Expense (specify)

43 Rent-up Expense

44 Other Non-basis Expense (specify)

45 Other Non-basis Expense (specify)


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Comments:

SUBTOTAL (lines 38 through 45) 435,000

46 Rent up Reserve 12,000

47 Operating Reserve 86,000

48 Other Reserve (specify)

49 Other Reserve (specify)

50 DEVELOPMENT COST (lines 1-49) 4,301,391 0 4,114,211

51 Less Federal Financing52 Less Disproportionate Standard

53 Less Nonqualified Nonrecourse Financing

54 Less Historic Tax Credit (residential) 0 0

55 TOTAL ELIGIBLE BASIS 4,114,211 0 4,114,211

56 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%

57 Basis Before Boost 4,114,211 0 4,114,211

58 Boost for QCT/DDA (if applicable, enter 130%) 130.00% 130.00%

59 TOTAL QUALIFIED BASIS 5,348,474 0 5,348,474

60 Tax Credit Rate 3.45 8.05

61 Federal Tax Credits at Estimated Rate 430,552 0 430,552

62 Federal Tax Credits at 8.5% or 3.75% 454,620 0 454,620

63 Max Federal Tax Credits (With Energy Star - Lesser of $8,500 per unit or$800,000, w/o - Lesser of $8,000 per unit or $800,000) 340,000

64 Federal Tax Credits Requested 340,000 340,000

65 Land Cost 0

66 TOTAL REPLACEMENT COST 4,301,391

FEDERAL TAX CREDITS IF AWARDED 340,000

Total Replacement Cost per unit: 105,085

Federal Tax Credits (line 62) per unit: 11,366


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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:

Site Amenities:

Market Study Information

Gateway Village Senior Apartments will be constructed as part of the City of Gastonias HighlandNeighborhood Urban Master Plan, a 27 acre traditional neighborhood development that combinesour 40-unit elderly housing complex with newly constructed and renovated existing single-familyhousing, churches, civic, shopping, and other commercial uses. Future expansion of the elderlyhousing and the addition of a family housing component and a community center have beenincluded in the Master Plan. The City of Gastonia has worked with neighborhood groups andresidents since 1999, and many streetscape and other infrastructure improvements have begun inpreparation for this proposed development. The neighborhood has been planned with a balance ofmixed uses, with a considerable effort by the City to attract new neighborhood service retail uses tothe area . The City has received a commitment of $2,000,000 in Section 108 guaranteed loan fundsand $1,000,000 in EDI grant funds to develop the commercial component adjacent to the GatewayVillage Senior Apartments.Original neighborhood is an older walkable community, minutes by foot from downtown, andfeatures the architecture of the 1920s and 1930s. The neighborhood will have a large greenspacelocated between the elderly housing and planned retail shops, that connects the neighborhood tothe Citys Greenway system.

The location of our project site adjacent to proposed new single-family housing units and a newshopping district offers the unique opportunity to design a building that will engage the elderlyresidents with the daily activity in the neighborhood. With that in mind, it is being designed to looklike a row of townhouses lining the street. Each of the apartments has a raised front porch and afront door to the street. Handicapped access is from the rear of the building. The row house effectbreaks up the mass of the building and creates a sense of individuality for the apartments and theCraftsman style architecture continues the concept of a traditional neighborhood. The parking lot isconcealed behind the building, further enhancing the neighborhood curb appeal.

The 40 one- and two-bedroom apartments include eight fully-accessible handicapped units; all unitsare adaptable for full accessibility in the future. The project has an on-site maintenance andmanagement office. Residents will enjoy a spacious lobby, library/reading room, a community roomand multi-purpose room for programmed activities.

Yes

The Park at Cline Village1810 Edgewater DrConover, NC

Outside includes a large rocking chair front porch with ceiling fans, a large covered entrancegazebo, a timber-framed picnic shelter, a playground for young visitors, a garden courtyard and avegetable garden for residents. Greenway access, fitness stations on greenway path, pedestrianbridge to retail center, porches each 1st floor apartment, balcony each 2nd floor apartment,horseshoe pit, shuffleboard, public garden area, semi-private resident garden area.


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Onsite Activities:

Landscaping Plans:

Interior Apartment Amenities:

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.

The project will provide educational classes, including computer literacy classes in an on-sitecomputer lab. Fitness classes will be conducted, health screenings provided, arts and crafts classesand Residents Council meetings will be held in the Community Room.

The project will boast and exceptional landscape for several reasons. The site boasts many maturehardwood trees and interesting natural features that will be taken advantage of and enhanced forthe project. Streetscape improvements are being undertaken by the City on Chester Street withlandscaped medians, street tree plantings and new sidewalks, street lighting and pedestriancrossings The stream running along the southern boundary of the site is being developed into agreenway park. And perhaps most importantly, the project budget reflects an allocation of $1,000per unit for landscaping, a budget sufficient to create a delightful landscape for the residentsenjoyment on the small, 2.9 acre site.

Each ground floor apartment has a raised front porch and each second floor apartment has abalcony; both contain a large exterior storage closet. Ground floor apartments feature entrancedoors from the building interior as well as an entrance directly from the porch for tenantconvenience. Kitchens have a large pantry, dishwashers and disposals, and are open and easilyconverted to full wheelchair accessibility. 20% of the apartments are fully accessible for the

handicapped, and all of the apartments have grab bars in the tubs and roll-in showers and at thetoilets. Each apartment has a washer and dryer hookup, a dressing area adjacent to the bathroom,and the two bedroom apartments have a walk-in closet in the master bedroom. Each bedroom andthe living room have ceiling fans and outlets for cable television and high-speed internet service.

No


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Briefly describe your site in each of the following categories:

Applicant's Site Evaluation

NEIGHBORHOOD CHARACTERISTICS

Trend and direction of real estate development and area economic health. Physical condition ofbuildings and improvements. Concentration of affordable housing.The community is an historically African-American neighborhood situated immediately to the north ofdowntown. Some of the working family housing has been purchased by first-time homeowners;much of the aging housing, however, has suffered from deterioration and is being purchased by theCity of Gastonia and demolished. During the past 5 years, the City has purchased and demolishedover 38 houses in the neighborhood. The City is making a commitment to improve the neighborhoodand has developed plans and committed funding to renovate existing homes, to demolishsubstandard structures and to build in-fill housing. The Citys plans for the Highland neighborhoodinclude:

The Highland Neighborhood Plan Downtown Urban Revitalization Plan Gateway Village Master Plan

The City has committed CDBG and HOME resources totaling $1,398,396 towards the other housingportions of the plan. In addition, the City has committed $3,000,000 in HUD funds to the constructionof the commercial component adjacent to Gateway Village Senior Housing. This property is currentlyunder option by a Charlotte commercial developer for construction of a small grocery store and retailshops.

In addition, Gaston County has made substantial investment (almost 78 million dollars) in theneighborhood, constructing the new County Police Station, County Administration Building,Courthouse, Department of Social Services, Sheriffs Department and jail

SURROUNDING LAND USES AND AMENITIES

Suitability of surrounding development. Land use pattern is residential in character (single andmultifamily housing) with a balance of other uses (particularly retail and amenities). Effect ofindustrial, large-scale institutional or other incompatible uses, including but not limited to: wastewatertreatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distributionfacilities, frequently used railroad tracks, power transmission lines and towers, factories or similaroperations, sources of excessive noise, and sites with environmental concerns (such as odors orpollution). Amount and character of vacant, undeveloped land.Land use pattern is primarily residential single family housing, with small pockets of neighborhoodscaled commercial development nearby. Public buildings are located east of the site on York Street.The proposed site is location north of downtown Gastonia. The natural topography of theneighborhood is hilly, but has been developed and urbanized over the past 100 years; many buildingsites have been terraced and graded into the landscape over the years The project site is a flat,previously developed two plus acre pad, ready for new construction. There are many vacant parcelsnearby in the neighborhood where single family homes once stood. New single family houses areproposed by the City for those parcels to recreate the fabric of the original, walkable neighborhood.

SITE SUITABILITY

Adequate traffic controls (stop lights, speed limits, turn lanes, etc.). Burden on public facilities(particularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location ofproject sign(s) in relation to traffic corridors.The project site is situated in an area with excellent access via a well-connected network of existingstreets. Chester Street is the main artery adjacent to the area; it is buffered by mature trees and asignificant grade separation from our site. York Ave., Allison St. and Rankin St. are lightly traveledcity-maintained collector street into the neighborhood. This project and other proposed housingdevelopments shown in the master plan are accessed primarily from neighborhood streets MoranSt. and Beatrice Costner Ave. Block sizes in the area are small, and each portion of the proposeddevelopment has multiple points of access from the existing street network. Mass transit is availableat the site with buses stopping in the neighborhood 19 times between 5:30 a.m. and 5:30 p.m. eachday.

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).There are no on-site negative features or physical barriers that will impede the development of theproject The proposed developments on site have been designed to take advantage of the naturaltopography, a perennial stream and mature trees to create amenities for our project and enhance


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

Other facilities or services:

the sense of privacy for the residents. A greenway park is being developed along the perennialstream, creating a scenic amenity for the elderly housing, with a pedestrian bridge across it to newretail development nearby. A stone cliff along busy Chester Street separates the project from thetraffic, while inviting new stair openings chiseled into the rock will make the neighborhood lessisolated from the larger community and connect the neighborhood to the greenway system.

Similarity of scale and aesthetics/architecture between project and surroundings.The original neighborhood consisted of a mixture of modest mill houses interspersed with some

grander Craftsman style homes and some commercial buildings on narrow, 40-50 ft. wide city lots.The project and other components of the local master plan were designed in a southern vernacularstyle with lot spacings and building setbacks to match the fabric of the original, and existingremnants, of the neighborhood.

Grocery Store2.3 Community/Senior Center.5

Mall/Strip Center2.3 Hospital5

Outdoor Athletic Fields.5 Pharmacy1.7

Day Care/After School.5 Basic Health Care3

Schools1.4 Medical Offices1.5

Public Transportation Stop.1 Bank/Credit Union.25

Convenience Store.1 Restaurants.25

Basketball/Tennis Courts.5 Professional Services.25

Public Parks.5 Movie Theater4.5

Gas Station.1 Video Rental1

Library2 Public Safety (Fire/Police).75

Fitness/Nature Trails1.2 Post Office.25

Public Swimming Pools4


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Project Operations (Year One)

Projected Operating Costs

Administrative Expenses

Advertising 1,000

Office Salaries 12,000

Office Supplies 1,000

Office or Model Apartment Rent

Management Fee 23,040

Manager or Superintendent Salaries

Manager or Superintendent Rent Free Unit

Legal Expenses (Project)

Auditing Expenses (Project) 3,000

Bookkeeping Fees/Accounting Services

Telephone and Answering Service 2,000

Bad Debts

Other Administrative Expenses (specify):

credit bureau, cablevision, postage, tax consulting, magistrate fees,3,160

SUBTOTAL 45,200

Utilities Expense

Fuel Oil

Electricity (Light and Misc. Power) 2,000

Water 17,520

Gas

Sewer

SUBTOTAL 19,520

Operating and Maintenance Expenses

Janitor and Cleaning Payroll 12,000

Janitor and Cleaning Supplies 2,000

Janitor and Cleaning Contract

Exterminating Payroll/Contract

Exterminating SuppliesGarbage and Trash Removal 2,400

Security Payroll/Contract

Grounds Payroll 12,000

Grounds Supplies

Grounds Contract

Repairs Payroll

Repairs Material

Repairs Contract 4,000

Elevator Maintenance/Contract 3,000

Heating/Cooling Repairs and Maintenance

Swimming Pool Maintenance/Contract

Snow RemovalDecorating Payroll/Contract 4,000

Decorating Supplies 2,000

Other (specify):

Miscellaneous Operating & Maintenance Expenses

SUBTOTAL 41,400

Taxes and Insurance

Real Estate Taxes 22,000

Payroll Taxes (FICA)


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Miscellaneous Taxes, Licenses and Permits

Property and Liability Insurance (Hazard) 8,500

Fidelity Bond Insurance

Workmen's Compensation

Health Insurance and Other Employee Benefits

Other Insurance:

SUBTOTAL 30,500Supportive Service Expenses

Service Coordinator

Service Supplies

Tenant Association Funds

Other Expenses (specify):

SUBTOTAL 0

Reserves

Replacement Reserves 10,000

SUBTOTAL 10,000

TOTAL OPERATING EXPENSES 146,620

ADJUSTED TOTAL OPERATING EXPENSES(Does not include taxes, reserves and resident support services) * 114,620

TOTAL UNITS(from total units in the Unit Mix section)

40

PER UNIT PER YEAR 2,865


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MINIMUM REQUIRED SET ASIDES (No Points Awarded):

Minimum Set-Asides

Select one of the following two options:

20% of the units are rent restricted and occupied by households with incomes at or below 50% of the median income (Note: NoTax Credit Eligible Units in the the project can exceed 50% of median income)

40% of the units are rent restricted and occupied by households with incomes at or below 60% of the median income (Note: NoTax Credit Eligible Units in the the project can exceed 60% of median income)

If requesting RPP funds:

40% of the units are occupied by households with incomes at or below 50% of median income.

State Tax Credit and QAP Targeting Points:

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 targeting points (select one):

At least twenty percent (20%) of qualified units will be affordable to and occupied by households with incomes at or below fiftypercent (50%) of county median income.

At least ten percent(10%) of qualified units will be affordable to and occupied by households with incomes at or below forty 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 (signed copies)

C Ownership Entity Agreement, Development Agreement or any other agreements governing development services

D Management Agent Agreement

E Owner and Management Experience & Management Questionnaire (Appendix C)

F Letters from State Housing Agencies or designated monitoring agent verifying out of state experience

G Completed IRS Form 8821 (Appendix I)

H Local Government Letter or Letter from Certified Engineer or Land Surveyor Confirming Floodplain Designation with Mapshowing all flood zones (original on letterhead, no fax or photocopies)

I Local Government Letter Confirming Zoning including any pending notices or hearings (original on letterhead, no fax orphotocopies)

J Letters from Local Utility Providers regarding availability and capacity (original on letterhead, no fax or photocopies)

K Documentation from utility company or local PHA to support estimated utility costs

L Appraisal (required for land costs greater than $15,000 and for all Adaptive Re-use and Rehab projects)

M Site plan, floor plans and elevations for all projects. Scope of work for Adaptive Re-use and Rehab projects. (Full Size, 24 x36 inches)

N Hazard and structural inspection and termite reports (Adaptive Re-use and Rehab projects only)

O Copy of certificate of occupancy or proof of placed-in-service date (Rehabs Only)

P Proposed Relocation Plan including relocation budget and copies of notices. Required for all Rehabs and any projectsinvolving existing occupants of any dwellings to be rehabbed or demolished.

Q Evidence of Permanent Loan Commitment and other sources of funds ( i.e. Equity letter, AHP, RD and local governmentfunds). For Rehabs with existing loans provide 1) copies of loan documents, 2) current loan balances from existing lenderswith reserve balances, 3) letter from lender that outlines assumption requirements.

R Local Housing Authority Agreement and Project Based Rental Assistance Letter, if applicable (Sample letters provided inAppendix I). For projects with existing PBRA contracts, provide a copy of the current contract and bank statement or otherdocumentation verifying reserve balances and annual reserve contribution requirements.

S Statement regarding terms of Deferred Developer Fee. If a nonprofit is involved, a resolution from their board approvingdeferral of fee is required.

T Inducement Resolution (Tax-Exempt Bond Financed Projects only)

Gateway Village

Documents

Transcript of Gateway Village