Taylor West at Taylor Estates

8/6/2019 Taylor West at Taylor Estates

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

roject Description

oject Name: Taylor West at Taylor Estates

ddress: 1214 N. 4th Street

ty: Wilmington County: New Hanover Zip:

ensus Tract: 114 Block Group: 2

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

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

olitical Jurisdiction: City of Wilmington

risdiction CEO Name:First:Bill Last:Saffo

Title: Mayor

risdiction Address: 102 N. 3rd Street

risdiction City: Wilmington Zip:

risdiction Phone:

te Latitude:

te Longitude:

oject Type: New Construction

Is this project a previously awarded tax creditdevelopment?

w Construction/Adaptive Reuse: his project a follow-on (Phase II, etc) to a previously-awarded tax credit development project? No

If yes, list names of previous phase(s):

ehab:

umber of residents holding Section 8uchers:

l the project meet Energy Star standards as defined in Appendix B? Yes

es a community revitalization plan exist? Yes

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

ttps://www.nchfa.org/Rental/RTCApp/(S(vq3eu155...067C5A06A&SNID=4EAED32E408547A7B6458605D414AA6A (1 of 24)4/8/2009 3:40:38 PM

28401

28401

(910)341-7815

34.2495

-77.9463



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

yes, please describe: Taylor West will have a separate 2036+/- square foot brick and fiber cement Community Service Facility. Thfacility contains handicap accessible toilet facilities; kitchen area that includes a refrigerator, sink and oven wstovetop range; administrative office area; maintenance and storage rooms; computer center; exercise roomwith equipment; laundry facilities; and a covered porch with sitting areas around a portion of the building.Resident mailboxes are conveniently located at the community building at a lighted and covered area.

rget Population:Family

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

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


48



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pplicant Information

icate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. UAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applica

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

pplicant Name: Housing and Economic Opportunities, Inc.

ddress: 1524 S. 16th Street

ty: Wilmington State: NC Zip:

ontact: First: Glenn Last:Floyd Title:Vice President

elephone:

t Phone:

ax:

mail Address:

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


28401

(910)341-7700

(910)232-3354

(910)254-9244

[email protected]



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te Description

tal Site Acreage: Total Buildable Acreage:

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

ntify utilities and services currently available (and with adequate capacity) for this site:

Storm Sewer Water Sanitary Sewer Electric

he demolition of any buildings required or planned? No

If yes, please describe:

e existing buildings on the site currently occupied? No

If yes:(a) Briefly describe the situation:

(b) Will tenant displacement be temporary?(c) Will tenant displacement be permanent?

he site directly accessed by an existing, paved, publicly maintained road? Yes

If no, please explain:

any portion of the site located inside the 100 year floodplain? No

If yes:(a) Describe placement of project buildings in relation to this area:


4.57 4.57



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(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:




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te Control

es the owner have fee simple ownership of the property (site/buildings)?Yes

If yes provide:

Purchase Date: Purchase Price:

If no:

(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?

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

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

(D) Enter Purchase Price:


5/9/1939 5,605



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oning

esent zoning classification of the site:MF-M

multifamily use permitted?Yes

e variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?No

If yes, have the hearings been completed and permits been obtained?

If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule forobtaining them:

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

If yes, describe below:

e there any existing conditions of environmental significance located on the project site?No

If yes, describe below:




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wnership Entity

wner Name: Taylor West LLC

dress: 1524 S. 16th Street

y: Wilmington State:NC Zip:

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

ote: Do not submit social security numbers for individuals.

ntity Type: Limited Liability Company

ntity Status: To Be Formed

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

the applicant requesting that the Agency treat the application as CHDO sponsored? No

st all general partners, members,and principals. Specify nonprofit corporate general partners or members.ick [Add] to add additional partners, members, and principals.

Org: HEO Partners III, LLC

rst Name: Michael Last Name: Krause Function: Managing Member

ddress: 1524 S. 16th Street

ty: Wilmington State: NC Zip: 28401

hone: Fax:

Mail: Nonprofit: No


28401

(910)341-7700 (910)254-9244

[email protected]



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oject Includes:Separate community building - Sq. Ft. (Floor Area):

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

Elevators - Number of Elevators:

quare Footage Information

oss Floor Square Footage:

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

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

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

Number of Units:

Number of Units Required:

Persons with disabilities or homeless populations.

Number of Units:

tes

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

income units are within established thresholds.


2,036

77,132

71,814

3

6

3

http://www.nchfa.com/Rental/Mincomelimits.aspx

http://www.nchfa.com/Rental/Mincomelimits.aspx



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argeting

ecify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] ate another row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.

BRs Units %

targeted at percent of median income affordable to/occupied by







tal Low Income Units:

te: This number should match the total number of low income units in the Unit Mix section.


5 40

13 60

8 40

10 60

2 30

2 30

8 30

48



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unding Sources

Source AmountNon-

Amortizing*Rate(%)

Term(Years)

Amort.Period(Years)

AnnualDebt

Service

Bank Loan

RPP Loan

Local Gov. Loan - Specify:CDBG

RD 515 Loan

RD 538 Loan - Specify:

AHP Loan

Other Loan 1 - Specify:HEO

Other Loan 2 - Specify:

Other Loan 3 - Specify:

Tax Exempt Bonds

State Tax Credit(Loan)

State Tax Credit(Direct Refund)

Equity: Federal LIHTC

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees

Owner Investment

Other - Specify:

Total Sources**

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

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

stimated pricing on sale of Federal Tax Credits: $0.

emarks concerning project funding sources:ease be sure to include the name of the funding source(s))


300,000 0.00 20 20 15,000

314,125 0.00 20 20 15,706

733,590 0 30 30 0

4,489,580

5,837,295

68



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evelopment Costs

Item Cost Element TOTAL COSTEligible Basis

30% PV 70% PV

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

2 Demolition (Rehab / Adaptive Reuse only)

3 On-site Improvements

4 Rehabilitation

5 Construction of New Building(s)

6 Accessory Building(s)

7 General Requirements (max 6% lines 2-6)

8 Contractor Overhead (max 2% lines 2-7)

9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest)

10 Construction Contingency (max 5% lines 2-9, Rehabs 10%)

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

12 Architect's Fee - Inspection

13 Engineering Costs

SUBTOTAL (lines 1 through 13)

14 Construction Insurance (prorate)

15 Construction Loan Orig. Fee (prorate)

16 Construction Loan Interest (prorate)

17 Construction Loan Credit Enhancement (prorate)

18 Construction Period Taxes (prorate)

19 Water, Sewer and Impact Fees

20 Survey

21 Property Appraisal

22 Environmental Report

23 Market Study

24 Bond Costs

25 Bond Issuance Costs

26 Placement Fee

27 Permanent Loan Origination Fee

28 Permanent Loan Credit Enhancement


500,000 500,000

3,400,000 3,400,000

234,000 234,000

82,680 82,680

330,720 330,720

227,370 227,370

110,000 110,000

33,243 33,243

50,000 50,000

4,968,013

2,500 2,500

5,000 5,000

35,000 35,000

42,000 42,000

5,000 5,000

6,500 6,500

1,700 1,700

4,300 4,300



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29 Title and Recording


30 Real Estate Attorney

31 Other Attorney's Fees

32 Tax Credit Application Fees (Preliminary and Full)

33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500)

34 Cost Certification / Accounting Fees

35 Tax Opinion

36 Organizational (Partnership)

37 Tax Credit Monitoring Fee


38 Furnishings and Equipment

39 Relocation Expense

40 Developer's Fee

41 Additional Contigency (greater of $500/unit or $30,000)

42

43

44 Rent-up Expense

45

46


47 Rent up Reserve

48 Operating Reserve

49

50

51 DEVELOPMENT COST (lines 1-49)

52 Less Federally Funded Grant

53 Less Disproportionate Standard

54 Less Nonqualified Nonrecourse Financing

55 Less Historic Tax Credit

56 TOTAL ELIGIBLE BASIS

57 Applicable Fraction (percentage of LI Units)


6,000

108,000

10,000 10,000

10,000 10,000

2,300

45,482

20,000 20,000

500

3,000

33,600

124,882

5,000 5,000

504,000 504,000

24,000 24,000

Other Basis Expense (s

Other Basis Expense (s

5,000

Other Non-basis Expen

Other Non-basis Expen

538,000

14,400

72,000

Other Reserve (specify) 12,000

Other Reserve (specify)

5,837,295 0 5,643,013

0

5,643,013 0 5,643,013

100.00% 100% 100%



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58 Basis Before Boost

59 Basis Boost of up to 130%

60 TOTAL QUALIFIED BASIS

61 Tax Credit Rate

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

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

64 Land Cost

65 TOTAL REPLACEMENT COST

FEDERAL TAX CREDITS IF AWARDED

Comments:

The Wilmington Housing Authority is the fee simple owner of the property. The Housing Authority will beentering into a Ground Lease with the owner of the development. The owner of the development will be alimited liability company with Housing and Economic Opportunities, Inc. (HEO) as one of its members. HEOis the non-profit instrumentality of the Housing Authority.

Project Development Cost per unit 70,833


5,643,013 0 5,643,013

100.00% 130.00%

7,335,917 0 7,335,917

3.50 9.00

660,233 0 660,233

0

5,837,295

660,233



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arket Study Information

ease provide a detailed description of the proposed project:

ent of new construction is to increase the number of affordable public housing units available to the low-come family population of Wilmington.

nce 2004 the City of Wilmington lost over 500 affordable public housing units. The lost units were at least years old.

present, 863 individuals/families compose the Wilmington Housing Authority’s waiting list for publicusing. Due to the loss of units since 2004, the waiting list is now closed but accepts applications for aority if the need is documented. The preferences consist of homeless, domestic violence, disabled,

derly and veterans. The Pointe at Taylor Estates, a recently built 48 unit tax credit project, was fully leasedthin 54 days and has a waiting list of over 70 applicants. This documents the need for affordable housingthis area.

aylor West is a 48 unit development consisting of 26 two bedroom units, 20 three bedroom units and 2ur bedroom units in 12 residential buildings. The architectural style blends with the styles of the recentlynstructed tax credit developments of Robert R. Taylor Senior Homes and The Pointe at Taylor Estates.e property contains very large old oak trees that will remain undisturbed and give the property a charmd feel of the past. Landscaped areas include sod and irrigation, in addition to the beautiful floweringrubs and vegetation which are native to our coastal climate. Carriage style street lamps throughout the

velopment give the neighborhood a warm and cozy feeling.

ere are 12 two-storey buildings. Three of those buildings are garden apartments which will include allndicap on the ground level. The exterior of the buildings is at least forty percent brick veneer with qualityer cement and metal roof accents, including color variations between the lower and upper floors whichovide additional definition to the design of the buildings and enhances the neighborhood. The roof isnstructed of high quality twenty-five year anti-fungal shingles and metal roofing accents to give theildings a coastal/urban flair.

andard features include carpeting throughout the living and bedrooms, quality VCT flooring in the kitchen,ning area, entrance area, and bathrooms; six panel solid interior doors; solid wood cabinetry in the kitchend bathrooms; a pantry, a mounted fire extinguisher in the kitchen; mini blinds throughout; washer/dryerok-ups; patio; exterior storage closet; and an energy efficient thirteen seer rated HVAC system. Thechen includes an energy star dishwasher and frost free refrigerator with freezer, and an oven with stove-p range. Each unit has its own private entrance with a covered porch and exterior door with a single leveradbolt and eye viewer. All exterior doors and double pane vinyl windows are insulated. There are lightediling fans, telephone jacks and cable connections in the living and bedrooms; lighted walk-in closets; andterior lighting at the unit’s entry doors.

e site location has all the conveniences of a downtown district, including shopping, restaurants, banking,urches, schools, medical facilities, and public parks and pools. It is located north of downtown Wilmington

here the majority of new growth such as shopping, medical offices, hotels and residential areas are beingnstructed.

nstruction (check all that apply):

Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches

Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding

Other:

(i) Metal roof accents; (ii) Community Service Facility; (iii) Underground Cultec storm water infiltrationsystem




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ve you built other tax credit developments that use the same building design as this project?No

If yes, please provide name and address:

e Amenities:

aylor West includes amenities that will provide a high quality of life for its residents. There is ample parkingclose vicinity to each tenant’s unit, including handicap parking per code. The buildings are positioned in amily-friendly manner that creates open spaces for resident use and play.

her site amenities include a covered picnic area with tables and grill, sitting areas, playground, flagpole,d refuse collection areas. The signage at Taylor West is located at the entrance to the development andvisible to motorists and pedestrians in the area.

aylor West has a separate 2036+/- square foot brick and fiber cement Community Service Facility. Thecility contains handicap accessible toilet facilities; kitchen area that includes a refrigerator, sink and oven

th stovetop range; administrative office area; maintenance and storage rooms; computer center; exerciseom with equipment; laundry facilities; and a covered porch with sitting areas around a portion of theilding. Resident mailboxes are conveniently located at the community building at a lighted and coveredea.

site Activities:

nsite activities will be provided by the Wilmington Housing Authority. Programs may include, but are notmited to:

Mentoring to Manhood (MTM): This program targets young men between the ages of 14 through 18 andcuses on developing an understanding of social responsibility and establishing a place as an effectiveader in the community.

P.E.A.R.L. Girls (Poised, Elegant, And Responsible Leaders): This program is dedicated to developing

d encouraging self-esteem, teaching ethics, respect and civility for young women ages 7 through 17.

Programs for adults featuring homebuyer’s education, money management, financial literacy (Moneymart), and credit repair.

ndscaping Plans:

e property contains very large old oak trees that will remain undisturbed and give the property a charmd feel of the past. The sod and irrigated landscape includes flowering shrubs and vegetation which aretive to our coastal climate. Carriage style street lamps, sitting areas, and a playground strategically

cated on the property create a family friendly feel to the development. The site’s attractive signage iscated at the entrance to the development and is visible to motorists and pedestrians in the area.

erior Apartment Amenities:

andard features include carpeting throughout the living and bedrooms, quality VCT flooring in the kitchen,ning area, entrance area, and bathrooms; six panel solid interior doors; solid wood cabinetry in the kitchend bathrooms; a pantry, a mounted fire extinguisher in the kitchen; mini blinds throughout; washer/dryerok-ups; and an energy efficient thirteen seer rated HVAC system. The kitchen includes an energy star

shwasher and frost free refrigerator with freezer, and an oven with stove-top range. There are lightediling fans, telephone jacks and cable connections in the living and bedrooms; and lighted walk-in closets.

you plan to submit additional market data (market study, etc.) that you want considered? No




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If yes, please make sure to include the additional information in your pre-application packet.




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pplicant's Site Evaluation

efly describe your site in each of the following categories:

EIGHBORHOOD CHARACTERISTICS

end and direction of real estate development and area economic health. Physical condition of buildings andprovements in the immediate vicinity. Concentration of affordable housing.

he trend and direction of real estate development continues to improve. The development is a part of the

ity’s NorthSide Community Plan, a revitalization plan that addresses housing, aesthetics, safety, amenitiesnd other community needs. Objective 3.0 of the plan refers to the replacement of the former Taylor Homesevelopment. A portion of this objective was reached upon the completion of the construction of The Robert. Taylor Senior Homes and The Pointe at Taylor Estates. The construction of Taylor West would completeis objective (see page 5-5 of the NorthSide Community Plan).

ompleted in the last three years and located less than a mile from the site are the luxury condominiumsannerman Station, Weldon Deco Condos, Modern Baking Company Lofts, The Mercantile, and Brooklynouse on the Promenade, adding 111 new units to the area. PPD (a contract research company withartners in the pharmaceutical, biotechnology, and other fields) recently completed their 400,000 squareot worldwide corporate headquarters overlooking the Cape Fear River and is within one mile of Taylor

West. The recently constructed 84,000 square foot multi-million dollar police headquarters is two blocksom the site.

urrently under construction within one mile from Taylor West is the Bank of America building, the multi-illion dollar Wilmington Convention Center, marina, and the full-service 157 room Hotel Indigo. Inovember 2008, the Wilmington City Council also approved $7 million for the phased redevelopment ofroperty near the Isabel Holmes Bridge which will add residential units, hotels, office and retail space in theowntown area. Cape Fear Community College, less than a mile from the site, recently received voterpproval of a $164 million bond referendum to build three new buildings dedicated to training in health,chnology, and general studies with the objective of bringing new jobs to Wilmington. The Gateway Projectless than two miles from Taylor West and was given approval by the Wilmington City Council in October

008. It is a mixed use high rise development which includes 260 condominium units, a restaurant, 40 boatips, and retail space for shops and food services.

he recently completed tax credit developments of The Pointe at Taylor Estates and Robert R. Taylorenior Homes added much needed quality affordable housing to the downtown area. The addition of Taylor

West supports the goal of creating affording housing in this growing downtown area.

he physical condition of the surrounding the site is continually improving along with the quality of theeighborhood.

URROUNDING LAND USES AND AMENITIES

nd use pattern is residential in character (single and multifamily housing). Extent that the location isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:astewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distributioncilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,urces of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount andaracter of vacant, undeveloped land. Taylor West is located in the Northside Community area of downtownlmington and is in close proximity to residential neighborhoods, retail services and amenities. In addition to

e newly constructed luxury condominiums in the area, there is a mix of single and multi-family homes in themediate vicinity, including the recently opened tax credit properties Robert R. Taylor Senior Homes ande Pointe at Taylor Estates. There is a wide variety of services and amenities that are available to residentsTaylor West. There are eleven convenience stores or specialty food markets located within one mile, twol-service grocery stores within two miles, and four full-service grocery stores within four miles. There areveral quaint retail shops at Chandler’s Warf, The Cotton Exchange, and at many individual specialty shopsat are located throughout the downtown area. Shopping at Independence Mall, various strip malls and aal-Mart Supercenter are within one to four miles of the site and are easily accessible by the WAVE public

ansit bus service. Basic health care includes New Hanover Community Heath Center which is located withino blocks of the proposed site. Also located in the downtown area are two walk-in clinics. New Hanover

egional Hospital, physician offices and pharmacies are located within three miles or less from the site. Allcilities are accessible by public transit bus service. Taylor West is in the New Hanover County School




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strict and is served by seven public schools from elementary to high school, which includes one year-roundd three County Pre-K schools. All County school facilities, including the gymnasiums, athletic fields, andditoriums are available for public use. Additional educational facilities which are one mile or less include St.

ary’s Catholic School and Cape Fear Community College. The University of North Carolina-Wilmington isur miles away. There are several local child development day care centers within one mile of Taylor West.any of these centers are subsidized by DHHS and residents may be eligible to receive financial assistancepay for the cost of the child care. The Wilmington community offers several supportive services for itssidents. Among these services are the Boys and Girls Club, Community Arts Center, Department of Healthd Human Services (DHHS), The Employment Security Commission (ESC), Good Shepard Center, andlmington Treatment Center. Services offered by these providers include aid for the homeless, mentalalth services, drug and alcohol abuse treatment, recreational, educational, social, and employmentrvices. Other programs are the Wilmington Youth Center for Inspiration, Recreation and Education (WIRE)d Communities In Schools of Cape Fear (CISCF). WIRE offers various programs including tutoring withunty school course credit, crisis intervention, medical attention, anger management, sports, and artsograms. CISCF is dedicated to helping young people learn successfully, stay in school, and prepare for lifed offers a wide variety of programs. Transportation for NHC students is available to WIRE and CISCF via asignated bus stop. In addition, CISCF offers free passes so students can get home free of charge viablic transportation. Other services in the vicinity include churches and the U.S. Post Office. The mainanch of the New Hanover County Library is less than one mile away. The Library offers various freervices including Wi-Fi internet access, meeting rooms, computer and credit counseling classes, toddler

ory time, and tax preparation assistance. Northside Park is a five acre park within walking distance of thee and includes playgrounds, shelters, picnic areas, and basketball courts. Northside Park also has a poolth splash pad, a bathhouse, lifeguards, and is handicap accessible. Robert Strange Park is a fifteen acrerk located just over a mile from Taylor. Amenities include ball parks, basketball and tennis courts, pool,

creation center, playground, shelters, restrooms and more. Greenfield Park surrounds Greenfield Lake anda 250 acre park with full amenities, including an amphitheater, paddle boats, and walking trails. Legionadium has a community pool, tennis courts, picnic areas, and athletic fields. Both Greenfield Park andgion Stadium are just over two miles away. There are no large scale or industrial institutions or other

compatible uses in the area that adversely affect the development. The nearby railway has beenandoned and has no effect on Taylor West or the surrounding neighborhood. The traffic patterns in theea are that of a downtown environment with controlled speed limits and traffic lights. The development is inmostly residential section of downtown and is not a thoroughfare for trucks or commercial vehicles. Theree no sources of excessive noise, pollution or other environmental concerns in this area.

TE SUITABILITY

dequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilitiesarticularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project sign

in relation to traffic corridors. Adequate traffic controls exist around the site to allow for steady traffic flowand around the site. All intersections directly surrounding the site are controlled by stop signs. The postedeed limit is 25 mph and speed humps exist on Nixon Street between 4th and 6th Streets. Traffic signalsist at the corner of 3rd Street and Davis Street and at Red Cross Street at 4th and 5th Streets. There are turn lanes into the development, however, traffic is such that those lanes are not necessary. The public

cilities, including roads and bridges, are not currently, nor are they expected to be, overburdened by thedition of this development. The site has exceptional access to traffic corridors leading into and out of thety of Wilmington, including the Isabel Holmes Bridge and Martin Luther King Jr. Parkway. One of the firstews upon entering the north side of the city will be this attractive community. With it’s appealing architectured urban design, it enhances the entrance to the City to both residents and tourists passing through theea. Prominent signage is displayed at the entrance to the community that is visible from various trafficrridors. Public transportation has routes throughout the City, including one stop directly across the street.e schedule runs every thirty minutes and costs the rider anywhere from $.50 to $1.00. A free trolley service

cles the downtown area enabling residents to easily access all the conveniences of downtown withoutving to walk long distances.




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egree of on-site negative features and physical barriers that will impede project construction or adverselyect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, largeulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-itability for residential use and difficulties posed by the building(s), such as limited parking, environmentaloblems or the need for excessive demolition).

o impediments or barriers currently exist on this property that negatively affect the residents. Sidewalksurrounding the site and throughout downtown are available for pedestrian activity. Ample parking isvailable, including handicapped on-site parking, on-street parking, and nearby parking garages providedy the city.

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

he majority of the structures in the immediate vicinity are no more than three stories tall and do notdversely affect the development. Taylor West is similar in scale and architecture to the recently completedx credit development of The Pointe at Taylor Estates. The high rise PPD building seen in the distance

nhances the view from this site and does not add any negative features to the neighborhood.

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

Grocery Store Community/Senior Center

Mall/Strip Center Hospital

Outdoor Athletic

eldsPharmacy

Day Care/After

choolBasic Health Care

SchoolsPublic Transportation

Stop

Convenience Store Public Parks

Gas Station Library

her facilities or services:

owntown Wilmington is within walking distance of the site and features the Farmer’s Market held inverfront Park each Saturday morning from April through December. The market features local farmers,oducers, artists and crafters. Several museums and historical sites are also located in the downtown areacluding Bellamy Mansion, Cape Fear Museum, Cape Fear Serpentarium, Historic Hannah Block USO

uilding, Wilmington Children’s Museum, Wilmington Railroad Museum and Henrietta III Riverboat. Historicalian Hall, a regional center for performing arts, is also located less than a mile from Taylor West. Theverwalk extends along the length of the Cape Fear River and enables pedestrians to walk from one endthe downtown area to the other end, with stops along the way for various shops, restaurants, offices, andurists attractions.

esidents have a clear view of the magnificent fireworks displays put on by the City of Wilmington atrious times of the year, including July 4th, Riverfest, and the Azalea Festival. Parades are held throughwntown during the festivals and holiday times.

ublic safety is nearby with the new Police headquarters located within two blocks and the Fire Stationadquarters less than a mile from the site.


.1 0.4

.7 3.2

.22.6

.20.2

.20.04

.04 0.2

.5 0.8



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anking, legal, and other professional services are located within the downtown area, along with thehamber of Commerce and other small businesses frequented by the citizens of Wilmington.




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reliminary App Checklist

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

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

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

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

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

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

C - Community Revitalization Plan

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

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

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

G - Rent Roll (Rehabs only)

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

Taylor West at Taylor Estates

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