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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: Wyndsor Downs
Address: SR 1251, Near Hwy 74
City: Polkton County: Anson Zip: 28135
Census Tract: 9803 Block Group: 4
No
Yes
Political Jurisdiction: Town of Polkton
Jurisdiction CEO Name: First: Last:W. Cliff Martin Title: Mayor
Jurisdiction Address: 113 West Polk Street
Jurisdiction City: Polkton Zip: 28135
Jurisdiction Phone: (704)272-7463
Site Latitude: 34.99908
Site Longitude: -80.21582
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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:
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Applicant Information
Applicant Name: Pendergrant Development, LLC
Address: PO Box 18863
City: State: NC Zip:Raleigh 27619
Contact: First: Last: Title:Marilyn Hernandez Development Coordinator
Telephone: (919)755-0558
Alt Phone: (919)861-6028
Fax: (919)861-6068
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
5 5
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:
Yes
Frankie W. Pendergraph is the managing member of the Seller (Pendergrant, LLC) and theownership entity. WE HAVE PURCHASED THE LAND.
(c) Enter the current expiration date of the option/contract to purchase: 2/5/2005
(D) Enter Purchase Price: 150,000
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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
Residential/Business
Yes
No
No
No
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The Median Income for Anson county is $45,200.
Low Income Units
Employee Units (will add to Low Income Unit total)
Market Rate Units
Statistics
Square Footage Information
Notes
Unit Mix
Type # BRs Net Sq.Ft.Total
# Units#Units
MonthlyRent
UtilityAllowance
MandatoryServ. Fees
**TotalHousing Exp.
Gdn Apt 2 970 16 3 350 108 458
Gdn Apt 3 1220 4 1 395 126 521
Gdn Apt 2 970 8 0 410 108 518
Gdn Apt 3 1220 4 0 465 126 591
Utilites included in rents: Water/Sewer Electric Gas Other
Type # BRs Net Sq.Ft.Total
# Units#Units
MonthlyRent
UtilityAllowance
MandatoryServ. Fees
**TotalHousing Exp.
Utilites included in rents: Water/Sewer Electric Gas Other
Type # BRs Net Sq.Ft.Total
# Units#Units
MonthlyRent
UtilityAllowance
MandatoryServ. Fees
**TotalHousing Exp.
Utilites included in rents: Water/Sewer Electric Gas Other
AllUnits
Units
Gross MonthlyRental Income
Low Income....... 32 4 12320
Market Rate.......
Totals............... 32 4 12320
Proposed number of residential buildings: 4 Maximum number of stories in buildings: 2
Project Includes:Separate community building -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area): 1,7991,799
Community space within residential bulding(s) -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area):
Elevators -- Number of Elevators:Number of Elevators:
Gross Floor Square Footage: 38,623
Total Net Sq. Ft. (All Heated Areas): 34,570
** 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 16 targeted at 50 percent of median income.
3 4 targeted at 50 percent of median income.
2 8 targeted at 60 percent of median income.
3 4 targeted at 60 percent of median income.
32
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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 257,000 7.75 30 30 22,094
RPP LoanLocal Gov. Loan - Specify:
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan 160,000 0.00 30 30
Other Loan 1 - Specify:Town of Polkton
68,000 2.00 20 20 4,128
Other Loan 2 - Specify:
Other Loan 3 - Specify:
Tax Exempt Bonds
State Tax Credit(Loan) 687,393 0 30 30 0
State Tax Credit(Direct Refund)
Equity: Federal LIHTC 1,413,550
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees 23,781
Owner Investment 143
Other - Specify:
Total Sources** 2,609,867
* "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.
78
The AHP loan was approved in December of 2003. It is non-interest bearing, with a balloonprincipal payment at the end of 30 years (no monthly principal or interest payments).
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AHP Loan
Year:Amt:
1
0
2
0
3
0
4
0
5
0
6
0
7
0
8
0
9
0
10
0
Year:Amt:
11
0
12
0
13
0
14
0
15
0
16
0
17
0
18
0
19
0
20
0
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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 245,400 245,400
4 Rehabilitation
5 Construction of New Building(s) 1,137,200 1,137,200
6 Accessory Building(s) 85,000 85,000
7 General Requirements 86,196 86,196
8 Contractor Overhead 30,456 30,456
9 Contractor Profit 121,824 121,824
10 Construction Contingency 50,252 50,252
11 Architect's Fee - Design 45,000 45,000
12 Architect's Fee - Inspection 9,335 9,335
SUBTOTAL (lines 1 through 12) 1,810,663
13 Construction Insurance (prorate) 3,200 3,200
14 Construction Loan Orig. Fee (prorate) 17,933 17,933
15 Construction Loan Interest (prorate) 77,513 77,513
16 Construction Loan Credit Enhancement (prorate) 4,500 4,500
17 Construction Period Taxes (prorate) 4,500 4,500
18 Water, Sewer and Impact Fees
19 Survey 9,000 9,000
20 Property Appraisal 6,500 6,500
21 Environmental Report 9,000 9,000
22 Market Study 12,000 8,000
23 Bond Costs (specify)
24 Cost of Issuance
25 Placement Fee
26 Permanent Loan Origination Fee 5,140
27 Permanent Loan Credit Enhancement
28 Title and Recording 8,722
SUBTOTAL (lines 13 through 28) 158,008
29 Real Estate Attorney 25,000 20,000
30 Other Attorney's Fees 15,500 9,000
31 Tax Credit App Fees 13,995
32 Auditing, carryover, cost certification 13,500 8,500
33 Tax Opinion
34 Organizational (Partnership) 10,000
35 Tax Credit Monitoring Fee 16,800
SUBTOTAL (lines 29 through 35) 94,795
36 Furnishings and Equipment 15,000 15,000
37 Relocation Expenses
38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 288,000 288,000
39 Engineering,Geotech, soils testing
40 AHP Fee
41 Rent-up Expenses 19,800
42 Other Non-basis Expense (specify)
43 Other Non-basis Expense (specify)
SUBTOTAL (lines 36 through 43) 322,800
44 Rent up Reserve 9,600
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Comments:
45 Operating Reserve 64,001
46 Other Reserve (specify)
47 Other Reserve (specify)
48 DEVELOPMENT COST (lines 1-47) 2,459,867 0 2,291,309
49 Less Federal Financing
50 Less Disproportionate Standard
51 Less Nonqualified Nonrecourse Financing
52 Less Historic Tax Credit (residential) 0
53 TOTAL ELIGIBLE BASIS 2,291,309 0 2,291,309
54 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%
55 Basis Before Boost 2,291,309 0 2,291,309
56 Boost for QCT/DDA (if applicable, enter 130%) 100.00% 100.00%
57 TOTAL QUALIFIED BASIS 2,291,309 0 2,291,309
58 Tax Credit Rate 0.00% 7.91%
59 Federal Tax Credits at Estimated Rate 181,242 0 181,242
60 Federal Tax Credits at 8.5% or 3.75% 194,761 0 194,761
61 Federal Tax Credits Requested 0
62 Land Cost 150,000
63 TOTAL REPLACEMENT COST 2,609,867
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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 (check all that apply):
Market Study Information
Wyndsor Downs is a 32 unit multi-family housing development that will be located near theintersection of Highway 74 and SR 1252 in Polkton. The site is directly adjacent to South PiedmontCommunity College.
All ground floor apartment units will be able to comply with ADA requirements. The exterior will be
nearly all brick veneer with high quality vinyl siding and accents. Where applicable, the siding willhave a larger exposure on the first floor and a smaller exposure siding on the second floor. Abandboard will divide the two at the second level floor system. The two siding exposures will havecolor variations between the lower and upper floor. The roof design has a variety of large and smallgables. This along with the combination of brick siding, accent trim, decorative rails, and colorvariations will yield an aesthetically pleasing development.
This particular architectural style was chosen because we felt that a two-story design would blendwith the community and surrounding homes. We have developed this design on previousdevelopments. The Agency, Town Officials, lenders and our Equity Partners are very pleased withthe curb appeal.
The interior of the units will have carpet in the living room and bedrooms. VCT will be utilized in thekitchens and baths. All interior doors will be of a six-panel design. The cabinetry will be of solid woodstyles and fronts. All units will have washer/dryer hook-ups, dishwashers, patios or balconies, andexterior storage. HVAC will consist of energy efficient heat pumps with an eleven seer rating. Allexterior windows and doors, where applicable, will have energy efficient insulated glass.
The development will have a separate community/office, with amenities such as, playground,horseshoe pit, shuffleboard, gazebo, exercise room, library, media room, vending area, and a picnicarea. The development will be extensively landscaped.
The site has all the conveniences of shopping, restaurants, banking, churches, schools, medicalfacilities, and employment. The majority of new growth in Anson County such as businesses, singlefamily development and state government growth, etc. are taking place in Polkton
Front entries are covered breezeways. Patio doors are full view glass providing an abundance ofnatural lighting into the main l iving, dining, and kitchen area.
Yes
Morgans Ridge, Wilson, NCLaurel Pointe, Goldsboro, NCHawthorne Court, Tarboro, NC
Community Bldg - Sq Ft: 1,799 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
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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.
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
Although a service package is not required on a family development, we will have various on siteactivities such as holiday events, social gatherings, newsletters and recreational activities. Also,because Wyndsor Downs received an AHP Grant, all social services required by that program willbe offered.
The property will be extensively landscaped exceeding the require per units costs. Sod and irrigationwill be installed in high visibility areas. The site amenities will be strategically located with bordersthroughout the property and will be handicap accessible. The site will have attractive signage,lighting and landscaping. Trees will be a minumum of 2" calibar and all shrubs will be 3 gallon orlarger. White vinyl fencing will be installed around dumpsters with plant bed.
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:
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.The proposed site is located on Horne Town Road near its intersection with Highway 74 in Polkton.The site is directly across Horne Town Road from the South Piedmont Community College. Thephysical condition of the college is excellent. The neighborhood also consists of Whitaker AppliedTechnologies Center (part of the college), Anson Childrens Center and scattered single-familyhomes; all of which are in good physical condition. Whitaker Applied Technologies Center locatedon Horne Town Road is a part of South Piedmont Community College where they teach vocationsincluding how to repair automobiles and machinery.
The site is located on the west side of Polkton and development in the Town is moving in thatdirection. Although Polkton is a small town, it is growing and its economic health is increasing due tothe new State prison, located 1.8 miles from the site. The new prison will create 500 new jobs. Theexisting prison will remain and employs approximately 450 middle class workers. A new hospital,affiliated with the prison, is also being planned. There are significant employment opportunities atthese facilities but there simply is no place for the workers to live in Polkton.
Suitability of surrounding development. Land use pattern is primarily residential (single and
multifamily 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).Polkton is located on Highway 74 which connects Rockingham to Wadesboro and Monroe andcontinues to Charlotte. The areas on and off of Highway 74 in Polkton include downtown Polkton,the community college, single family homes, various gas stations and convenience stores, a fewrestaurants, and recreational areas/ball fields. There is one affordable multifamily development inPolkton and it tagets an elderly population.
The site is located just off of Highway 74 on Horne Town Road next to the South PiedmontCommunity College. The site is directly across Horne Town Road from the college and less than 1.8miles from the new and existing State prisons.
Downtown Polkton is approximately one mile from the site. The police department, fire department,
First 1 Bank, the post office and Town offices are all located downtown. The elementary school islocated just down Highway 74 West in Polkton.
There are two parks within a few miles of the site. The Polkton Swimming Pool contains a publicswimming pool and volleyball court. The Field of Dreams Complex contains several ball fields and isthe home to many little league tournaments. The Pee Dee National Wildlife Refuge is less than 5miles from the site.
Wadesboro, the County seat of Anson County, is located just down Highway 74 from the site. Theclosest retail center in Wadesboro is Anson Station which has many stores. Food Lion, IGA, Wal-Mart, Moore Department Store, Cato Fashion, Dollar General, Family Dollar and CVS Pharmacy areall less than 7 minutes (7 miles) from the site. The Anson Community Hospital is also less than 7miles from the site. The West Anson Medical Center is only 0.3 miles from the site. There are noincompatible uses or on-site or off-site negative features that would impede construction or adverslyaffect future tenants.
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).The streets and access roads are adequate to support the proposed development and have thenecessary traffic controls to provide for safe travel. Highway 74 is a four-lane highway with turnlanes. The proposed development will be directly serviced by Horne Town Road which is asecondary road.
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,
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For each applicable neighborhood feature, enter distance from project in miles.
Other facilities or services:
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 and physical barriers that will impede construction oradversely affect tenants. The older home that is located on the site will be removed prior toconstruction start. The site slopes from one end to the other but will be able to be balanced duringthe grading process. The site is the best location in Polkton for a multifamily housing development.
Similarity of scale and aesthetics/architecture between project and surroundings.The proposed development will be aesthetically and architecturally consistent with the surroundingneighborhood. The community college next door contains several attractive buildings which havemultiple stories. The proposed project will be a nice addition to the neighborhood.
Grocery Store.5 Community/Senior Center.5
Mall/Strip Center7 Hospital7
Outdoor Athletic Fields0.1 Pharmacy7
Day Care/After School.5 Basic Health Care.3
Schools0.1 Medical Offices.3
Public Transportation Stop.5 Bank/Credit Union.6
Convenience Store.6 Restaurants.5
Basketball/Tennis Courts.5 Professional Services.5
Public Parks.5 Movie Theater7
Gas Station.6 Video Rental.5
Library0.1 Public Safety (Fire/Police)1
Fitness/Nature Trails.5 Post Office1
Public Swimming Pools5
South Piedmont Community College is adjacent to the site and downtown Polkton is less than 1 milefrom the site. The Town of Wadesboro is 7 miles away. There are significant employmentopportunities at the new and existing prisons less than 2 miles from the site.
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DevelopmentList 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:
ManagementList 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: 11 3
Units: 482 160
North Carolina Other States
Projects: 37 6
Units: 1,578 640
No
No
Yes
No
No
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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? No
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? Yes
If yes, indicate the type and amount below:
Tax Exempt Financing: $
RD 515 Financing: $
Hope VI Financing: $
Other: $ 160,000
If Other, specify the type of Federal subsidy: AHP Grant to be loaned by the non-profit
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Project Operations (Year One)
Projected Operating Costs
Administrative Expenses
Advertising 1,500
Office Salaries 9,000
Office Supplies 600
Office or Model Apartment Rent 0
Management Fee 12,415
Manager or Superintendent Salaries 0
Manager or Superintendent Rent Free Unit 0
Legal Expenses (Project) 500
Auditing Expenses (Project) 3,000
Bookkeeping Fees/Accounting Services 0
Telephone and Answering Service 900
Bad Debts 0
Other Administrative Expenses (specify):0
SUBTOTAL 27,915
Utilities ExpenseFuel Oil 0
Electricity (Light and Misc. Power) 4,000
Water 1,920
Gas 0
Sewer 1,920
SUBTOTAL 7,840
Operating and Maintenance Expenses
Janitor and Cleaning Payroll 600
Janitor and Cleaning Supplies 0
Janitor and Cleaning Contract 0
Exterminating Payroll/Contract 768
Exterminating Supplies 0
Garbage and Trash Removal 3,456
Security Payroll/Contract 0
Grounds Payroll 0
Grounds Supplies 0
Grounds Contract 7,200
Repairs Payroll 10,000
Repairs Material 750
Repairs Contract 750
Elevator Maintenance/Contract 0
Heating/Cooling Repairs and Maintenance 750
Swimming Pool Maintenance/Contract 0
Snow Removal 0
Decorating Payroll/Contract 6,900
Decorating Supplies 0
Other (specify):0
Miscellaneous Operating & Maintenance Expenses 0
SUBTOTAL 31,174
Taxes and Insurance
Real Estate Taxes 17,375
Payroll Taxes (FICA) 1,710
Miscellaneous Taxes, Licenses and Permits 0
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Property and Liability Insurance (Hazard) 4,750
Fidelity Bond Insurance 65
Workmen's Compensation 551
Health Insurance and Other Employee Benefits 0
Other Insurance:0
SUBTOTAL 24,451
Supportive Service Expenses
Service Coordinator 1,500
Service Supplies 700
Tenant Association Funds 200
Other Expenses (specify):0
SUBTOTAL 2,400
Reserves
Replacement Reserves 8,000
SUBTOTAL 8,000
TOTAL OPERATING EXPENSES 101,780
ADJUSTED TOTAL OPERATING EXPENSES(Does not include taxes, reserves and resident support services) *
74,005
TOTAL UNITS(from total units in the Unit Mix section) 32
PER UNIT PER YEAR 2,312
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Design Features
ITEM DESCRIPTION
Foundation/Slab Components BLOCK PERIMETER, GRAVEL BASE, CONCRETE SLAB
Primary Windows Make: Model:SIMONTON/EQUAL PROFINISH Type/Construction: VINYL CLAD
Exterior Doors Type: Frames:METAL SIX PANEL WOOD
Siding Type: Grade/Thickness:VINYL .044MIL
Warranty: LIMITED LIFETIME
Exterior Trim WOOD
Shingles Type: Weight:FIBERGLASS 226-231
Warranty: 25+ YEARS ANTIFUNGAL
Sprinkler System N/A
Cabinets MERIALLAT/HORIZON/EQUAL/SOLID WOOD STYLES AND FRONTS
Heat Pump SEER: Make:11 GOODMAN/EQUAL
Model: CPKJ24
Air Conditioner SEER: Make:N/A
Model:
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 18,000 8,000 26,000
Backfill-slab, Crawl 21,000 16,000 37,000
Slab-concrete/Rebar/Gravel 11,000 14,500 25,500
Waterproofing 2,000 1,800 3,800
Masonry Foundation 13,400 21,000 34,400
Brick Veneer 15,000 48,000 63,000
Steel/Structure/Rails 0 0 0
Framing/Lumber/Nails 24,000 65,000 89,000
Trusses 0 52,000 52,000
Crane Rental 2,000 0 2,000
Windows/Grilles/Screen 0 16,000 16,000Exterior Doors 0 27,000 27,000
Roofing 9,500 20,000 29,500
Fencing 0 0 0
Vinyl Siding/Trim/Box 20,000 40,000 60,000
Gutters/Shutters 6,000 8,000 14,000
Insulation 7,800 24,000 31,800
Drywall 35,206 56,855 92,061
Interior Doors 0 32,000 32,000
Int. & Final/Stair/Trim/Shelves 14,000 18,900 32,900
Cabinets & Tops 7,000 34,000 41,000
Painting 18,000 8,000 26,000
Marble - Tub/Shwr/Tops 0 0 0
Plumbing 26,000 34,000 60,000
Electrical 29,800 29,800 59,600
Heating/Air Conditioning 32,000 32,000 64,000
Floor Covering and Underlayment 15,000 32,000 47,000
Wall Paper 0 0 0
Mailboxes/Special Features/Signage 300 200 500
Gypcrete 12,000 31,000 43,000
Blinds/Shades/Art Work 5,200 7,800 13,000
Light Fixtures/Fans 0 22,750 22,750
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. 3,375 3,375 6,750
Hardware/Bath Access. 4,600 6,000 10,600
Appliances 0 33,000 33,000
Playground Equipment 4,000 8,000 12,000
Interior Clean 14,000 2,039 16,039
Exterior Clean/Dumpster Rental 9,000 5,000 14,000
Other 1 (specify in Remarks) 0 0 0
Other 2 (specify in Remarks) 0 0 0
Total Cost 379,181 758,019 1,137,200
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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 22,000
Job Site Office/Trailer Rental 2,000
Office Supplies 2,000
Security/Watchman 0
Project Signage 8,000
Tools and Equipment 3,200
Gas, Oil, and Maintenance 2,500
Temporary Water, Electric, and Telephone 0
Storage/Hauling 15,000
Driveway Access Permit 1,090
Porta-John Rental/Dumping 1,850Builders Risk Insurance 8,000
Re-inspection Fees 456
Extra Plans and Specifications 1,600
Miscellaneous, Casual Labor 14,000
Equipment Rental 4,500
Other 1 (specify in Remarks) 0
Other 2 (specify in Remarks) 0
Total Cost 86,196
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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 16,000
Clearing/Grading/Final Grading/Excess and Borrow 21,000
Demolition 0
Earthwork/Excavation/Aerating 14,000
Soil Treatment 2,500
Pile Foundations 0
Caissons 0
Shoring/Bracing 5,000
Site Drainage 18,600
Site Utilities/Site Lighting 35,000
Paving and Surfacing/Curb and Gutter 26,000Walkways 18,400
Site Signage 4,000
Parking Lot Painting 4,000
Dumpster Pads/Fencing 5,000
Fencing/Gates 0
Landscaping/Topsoil 32,000
Rock and Hardpan Excavation 2,900
Site Supervision Personnel 10,000
Other (specify in Remarks) 31,000
Total Cost 245,400
Other: this is the amount from line 39 of the original app.
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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:
Low Income County:
At least forty percent (40%) of qualified units will be affordable to households with incomes at or below fifty percent (50%) of countymedian income.
At least forty percent (40%) 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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