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Check all that apply:
Federal Low Income Housing Tax Credit
State Low Income Housing Tax Credit
Tax Exempt Bonds
Rental Production Program (RPP) Loan
Requested RPP Loan Amount:RPP Loan Product Requested:
Print Preview - Final Application
Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans
Resources Requested
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Is project in Qualified Census Tract & Difficult to Develop area:
Project Name and Location
Project Name: Palmer Green Apartments
Address: Palmer Street
City: Raeford County: Hoke Zip: 28376
Census Tract: 9702 Block Group: 1
No
Political Jurisdiction: City of Raeford
Jurisdiction CEO Name: First: Last:Bob Gentry Title: Mayor
Jurisdiction Address: 315 N. Main Street
Jurisdiction City: Raeford Zip: 28376
Jurisdiction Phone: (910)875-8161
Site Latitude: 34.9751
Site Longitude: -79.2440
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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 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:
Square Footage Information
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 other federal and staterequirements)
Persons with disabilities or homeless populations: the greater of 5 units or 10% of the total units
Remarks: 25% of the units will be handicapped accessible. 5 of the units will target the homeless/disabledpoopulation. Rents will range from 155 to 175 on these units.
Proposed number of residential buildings: 5 Maximum number of stories in buildings: 2
Types of Units:* Townhouse Duplex Garden Apartment Detached Single-Family
Project Includes:Separate community building -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area): 1,2031,203
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: 44,323
Total Net Sq. Ft. (All Heated Areas): 39,853
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Applicant Information
Applicant Name: Palmer Green Associates Limited Partnership
Address: P. O. Drawer 42208
City: State: NC Zip:Fayetteville 28309
Contact: First: Last: Title:Murray Duggins Gen. Partner-see owner info page 9
Telephone: (910)485-6600
Alt Phone:
Fax: (910)483-4274
Email Address: [email protected]
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Total Site Acreage: Total Buildable Acreage:
If buildable acreage is less than total acreage, please explain:
Identify utilities and services currently available (and with adequate capacity) for this site:
Storm Sewer Water Sanitary Sewer Electric
Is the demolition of any buildings required or planned?
If yes, please describe:
Are existing buildings on the site currently occupied?
If yes:(a) Briefly describe the situation:
(b) Will tenant displacement be temporary?
(c) Will tenant displacement be permanent?
Is the site in a distressed neighborhood?
If yes, does a community revitalization plan exist?
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:
Site Description
4 4
No
No
No
Yes
No
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(b) Describe flood mitigation if the project is in the East Region and will have improvements within the 100 year floodplain:
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Does the owner have fee simple ownership of the property (site/buildings)?
If yes provide:
Purchase Date: Purchase Price:
If no:
Site Control
No
(a) Does the owner/principal or ownership entity have vaild option/contract to purchase the property? Yes
(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for
purchase of the property and the seller of the property?If yes, specify the relationship:
No
(c) Enter the current expiration date of the option/contract to purchase: 8/29/2003
(D) Enter Purchase Price: 100,000
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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:
Is a public hearing of any kind required in the future for you to fully develop this property?
If yes, describe the nature of the hearing and when you expect the hearing will be held:
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
RMF-12
Yes
Yes
Yes
The town of Raeford does not issue a permit. Included are the minutes of the town meeting whereuse was approved.
No
No
No
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Ownership Entity
Owner Name: Palmer Green Associates Limited Partnership
Address: P. O. Drawer 42208
City: State: NC Zip:Fayetteville 28309
Federal Tax ID Number of Ownership Entity: (If assigned)
Federal Tax ID Number of Managing GP or Member: (If Not Assigned)56-2053411
Entity Type: Limited Partnership
Entity Status: To Be Formed
Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? No
Is the applicant requesting that the Agency treat the application as CHDO sponsored? No
List all general partners, members,and principals. Specify nonprofit corporate general partners ormembers. Click [Add] to add additional partners, members, and principals.
Org: Palmer Green/Duggins, LLC
First Name: N/A Last Name: N/A Function: Managing General Partner
Address: P. O. Box 42208
City: Fayetteville State: NC Zip: 28309
Phone: (910)485-6600 Fax: (910)483-4274
EMail: [email protected] Nonprofit: No TaxID 56-2053411
Org: Duggins Family Limited Partnership
First Name: Murray Last Name: Duggins Function: General Partner
Address: P. O. Drawer 42208
City: Fayetteville State: NC Zip: 28309
Phone: (910)485-6600 Fax: (910)483-4274
EMail: [email protected] Nonprofit: No TaxID 56-2053411
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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 %
1 2 targeted at 40 percent of median income.
2 8 targeted at 40 percent of median income.
2 8 targeted at 50 percent of median income.
2 14 targeted at 60 percent of median income.
3 4 targeted at 50 percent of median income.
3 4 targeted at 60 percent of median income.
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))
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 230,000 7.25 20 30 18,828
RPP LoanLocal Gov. Loan - Specify:DCA
200,000 0.00 30 30
RD Loan
AHP Loan
Other Loan 1 - Specify:
Other Loan 2 - Specify:
Other Loan 3 - Specify:
Tax Exempt Bonds
State Tax Credit(Loan) 792,808 0 30 30 0
State Tax Credit(Direct Refund)
Equity: Federal LIHTC 1,629,674
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees
Owner Investment
Other - Specify:
Total Sources** 2,852,482
* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt servicebelow.
** Total Sources must equal total replacement cost in Project Development Cost (PDC) section.
79
The City of Raeford and a consultant, Larry Jarvis, are working with the Division ofCommunity Assistance for funding as noted above.
Local Gov. Loan - DCA
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Year:Amt:
1
11750
2
11750
3
11750
4
11750
5
11500
6
11500
7
11000
8
11000
9
11000
10
11000
Year:Amt:
11
10500
12
10500
13
10500
14
10500
15
10000
16
9000
17
8000
18
7000
19
6000
20
4000
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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 226,500 226,500
4 Rehabilitation
5 Construction of New Building(s) 1,590,597 1,590,597
6 Accessory Building(s)
7 General Requirements 98,660 98,660
8 Contractor Overhead 38,400 38,440
9 Contractor Profit 114,900 114,900
10 Construction Contingency 62,000 62,000
11 Architect's Fee - Design 70,000 70,000
12 Architect's Fee - Inspection
SUBTOTAL (lines 1 through 12) 2,201,057
13 Construction Insurance (prorate) 4,725 4,725
14 Construction Loan Orig. Fee (prorate)
15 Construction Loan Interest (prorate) 39,500 39,500
16 Construction Loan Credit Enhancement (prorate)
17 Construction Period Taxes (prorate) 3,000 3,000
18 Water, Sewer and Impact Fees 10,340 10,340
19 Survey 3,000 3,000
20 Property Appraisal 5,500 5,500
21 Environmental Report 3,500 3,500
22 Market Study 4,000 4,000
23 Bond Costs (specify)
24 Cost of Issuance
25 Placement Fee
26 Permanent Loan Origination Fee
27 Permanent Loan Credit Enhancement
28 Title and Recording
SUBTOTAL (lines 13 through 28) 73,565
29 Real Estate Attorney 40,650 40,650
30 Other Attorney's Fees
31 Tax Credit App Fees 15,121 15,121
32 Cost Certification/Accounting Fees (specify) 7,300 7,300
33 Tax Opinion
34 Organizational (Partnership)
35 Tax Credit Monitoring Fee 21,000
SUBTOTAL (lines 29 through 35) 84,071
36 Furnishings and Equipment 5,000 5,000
37 Relocation Expenses
38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 300,000 300,000
39 Other Basis Expense (specify)
40 Other Basis Expense (specify)
41 Rent-up Expenses
42 Other Non-basis Expense (specify)
43 Other Non-basis Expense (specify)
SUBTOTAL (lines 36 through 43) 305,000
44 Rent up Reserve 12,000
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Comments:
45 Operating Reserve 76,789
46 Other Reserve (specify)
47 Other Reserve (specify)
48 DEVELOPMENT COST (lines 1-47) 2,752,482 0 2,642,733
49 Less Federal Financing
50 Less Disproportionate Standard
51 Less Nonqualified Nonrecourse Financing
52 Less Historic Tax Credit (residential) 0
53 TOTAL ELIGIBLE BASIS 2,642,733 0 2,642,733
54 Times Applicable Fraction 100.00% 100% 100%
55 TOTAL QUALIFIED BASIS 2,642,733 0 2,642,733
56 Tax Credit Rate 8.50% 8.50%
57 FEDERAL TAX CREDITS at Estimated Rate 224,632 0 224,632
57a FEDERAL TAX CREDITS at 8.5% or 3.75% 224,632 0 224,632
58 FEDERAL TAX CREDITS REQUESTED 224,712 224,712
59 STATE TAX CREDITS 793,102
60 Land Cost 100,000
61 TOTAL REPLACEMENT COST 2,852,482
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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):
Onsite Activities:
Landscaping Plans:
Market Study Information
Project will consist of 5 two-story rental buildings containing a total of 40 one, two, & three bedrooms(one & two bath) units with a total rental area of approximately 42,000 sq. ft. Project will also havean office/community building. Palmer Green will be operated according to NCHFA requirements.Construction will be brick veneer and hardiplank. The management company will be UnitedManagement. A support services program will be in place. The proposed project targets those at
40%,50% and 60% of the median income. 11 units will be handicapped accessible. A supportservices coordinator is on staff to assist tenants.
Yes
Raeford Green Apts.,400 Southern Ave., Raeford, NC 28376;Blanton Green Apts., 1034 Lauren McNeill Loop, Fayetteville, NC 28303;Golfview Apts. 4131 Fescue Ct., Hope Mills, NC 28348; Longview Apts., 117 LongviewDr.,Fayetteville, NC; Blanton Green II Apts. (under const.) Adjacent to Blanton Green I; WoodgreenApts.(under const.) 200 Bradford Dr., Aberdeen, NC.28315; Rosehill West Apts., James HamnerWay, Fayetteville, NC.
Community Bldg - Sq Ft: 1,203 Community Room - Sq Ft: 1,100 Garages - Number:
Laundry Rm Screened Porch Resident Computer Center Exam Rm Reading Rm/Library
Game/Craft Rm Exercise Rm TV Rm Beauty Salon Vending Rm
Chapel/Prayer Rm Picnic Area Onsite Leasing Office Onsite Mgr Onsite Maint. Person
Irrigated Lawns Security Gate Car Care Area Storage Units Gazebos
Walking Trails Garden Spots Basketball/Tennis Court Playground Ball Field
Pool Fitness Stations Horseshoe Pit Shuffleboard Covered Drive Thru
Playground with equipment, support services director with scheduled activities.
Above average landscaping with automatic sprinkler system.
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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.
Range Hood Dishwasher Disposal Refrigerator (frost free) Storage interior/exterior
W/D Hookups Mini-blinds Pantry Ceiling fans Walk-in closets
vct
Yes
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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).
Surrounding area consists of nice residential homes and other acreage which is presently use foragriculture but zoned R-12 to allow residential homes. There are no signs of decline in the area andwe believe that a market assessment will show that the economic health is good.
Suitability of surrounding development. Land use pattern is primarily residential with a balance ofother uses, including non-competing multifamily and single family units, relevant amenities, shoppingand services.Land use pattern is primarily residential. There is a school across Thomas St. within .2 mi. of thesite. There is a water tower which was built in 1997 under modern standards and is 112 ft. in heightand 50 ft. in diameter. Please note that it is NOT A WELL SITE but a tank only. It is approximately230 ft. from property line and 245 ft. from any building which would be included in the project. Abuffer will be constructed along the property line for aesthetic reasons. Amenities, shopping,
services, etc. are listed below.
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 project ingress and egress will be state road 1244 (Palmer Street) which is not a main trafficartery. Appropriate stop signs and traffic lights are in place.
Amount and character of vacant, undeveloped land. Effect of industrial, large-scale institutional orother incompatible uses: wastewater treatment facilities, high traffic corridors, junkyards, prisons,landfills, large swamps, distribution facilities, frequently used railroad tracks, power transmission linesand towers, factories or similar operations, sources of excessive noise, and sites with environmentalconcerns (such as odors or pollution).Undeveloped land around site is now used for agriculture but is zoned for residential use. Tlhe siteitself is not used for agriculture. There are no detrimental factors as listed above. The water tower asdiscussed above will not, in our opinion have any detrimental effect on proposed project or tenants.
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 negative features that will impede project construction or adversely affect futuretenants.
Similarity of scale and aesthetics/architecture between project and surroundings.Project will blend well with surrounding aesthetics/architecture.
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For each applicable neighborhood feature, enter distance from project in miles.
Other facilities or services:
Concentration of affordable housing (housing credit, project-based rental assistance, public housing).There is a Rural Development project approximately one mile from the project (Twin Oaks Apts.)
and an affordable housing project approximately 2 miles from site (Raeford Green).
Availability of Supportive Services (if applicable):The developer of the low income projects employs a certified support services coordinator whoworks with tenants and establishes contact with city and county social service agencies for tenantsas needed. Many of the Hoke County support services offices are located in the City of Raeford.
Grocery Store1 Community/Senior Center.4
Mall/Strip Center1 Hospital.5
Outdoor Athletic Fields.2 Pharmacy.5
Day Care/After School.7 Basic Health Care.5
Schools.2 Medical Offices.5
Public Transportation Stop Bank/Credit Union1
Convenience Store.4 Restaurants1
Basketball/Tennis Courts.2 Professional Services1.5
Public Parks Movie Theater
Gas Station.4 Video Rental1
Library2 Public Safety (Fire/Police)2
Fitness/Nature Trails Post Office2
Public Swimming Pools
First Health Community Health Services is located .5 mi. from site. This facility offers diversemedical services and includes ambulance service .
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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: 19 4
Units: 736 104
North Carolina Other States
Projects: 20 5
Units: 760 128
No
No
No
No
Yes
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Financing Commitments
Does the project have a firm commitment for construction financing? Yes
Does the project have a letter of intent for private permenant financing? Yes
Does the project have a firm commitment for government financing? 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? No
If yes, indicate the type and amount below:
Tax Exempt Financing: $
RD 515 Financing: $
Hope VI Financing: $
Other: $
If Other, specify the type of Federal subsidy:
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Project Operations (Year One)
Projected Operating Costs
Administrative Expenses
Advertising 1,600
Other Administrative Expense (specify):
Office Salaries 4,200Office Supplies 1,500
Office or Model Apartment Rent
Management Fee 17,550
Manager or Superintendent Salaries 1,500
Manager or Superintendent Rent Free Unit
Legal Expenses (Project) 500
Auditing Expenses (Project) 3,500
Bookkeeping Fees/Accounting Services
Telephone and Answering Service 2,000
Bad Debts
Other Administrative Expenses (specify):
SUBTOTAL 32,350
Utilities Expense
Fuel Oil
Electricity (Light and Misc. Power) 6,500
Water
Gas
Sewer
SUBTOTAL 6,500
Operating and Maintenance Expenses
Janitor and Cleaning Payroll
Janitor and Cleaning Supplies
Janitor and Cleaning Contract 4,000
Exterminating Payroll/Contract 3,000
Exterminating Supplies
Garbage and Trash Removal 4,871
Security Payroll/Contract
Grounds Payroll 4,000
Grounds Supplies 3,000
Grounds Contract 7,000
Repairs Payroll 4,000
Repairs Material
Repairs Contract 3,500
Elevator Maintenance/Contract
Heating/Cooling Repairs and Maintenance 5,500
Swimming Pool Maintenance/Contract
Snow Removal
Decorating Payroll/Contract 3,000
Decorating Supplies 2,400
Other (specify):
Miscellaneous Operating & Maintenance Expenses
SUBTOTAL 0
Taxes and Insurance
Real Estate Taxes 15,000
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Payroll Taxes (FICA) 3,379
Miscellaneous Taxes, Licenses and Permits
Property and Liability Insurance (Hazard) 5,500
Fidelity Bond Insurance
Workmen's Compensation
Health Insurance and Other Employee Benefits
Other Insurance:
SUBTOTAL 0
Supportive Service Expenses
Service Coordinator 6,000
Service Supplies
Tenant Association Funds
Other Expenses (specify):
SUBTOTAL 0
Reserves
Replacement Reserves 10,000
SUBTOTAL 10,000
TOTAL OPERATING EXPENSES 123,000
ADJUSTED TOTAL OPERATING EXPENSES(Does not include taxes, reserves and resident support services) *
92,000
TOTAL UNITS(from total units in the Unit Mix section)
40
PER UNIT PER YEAR 2,300
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Design Features
ITEM DESCRIPTION
Foundation/Slab Components 20x12" footings w/2 rebar. Continuous reg. brick 4"x8" block & header blocks on 4"slab.
Primary Windows Make: Model:Alenco series 3852 Type/Construction: aluminum, single hung, thermal break, tilt sash
Exterior Doors Type: Frames:Peachtree Steel Wood
SidingType: Grade/Thickness:
Hardiplank & BrickVeneer and/or .044"vinyl siding & trim
Warranty: 50 yr. warranty
Exterior Trim Pro-trim/Hardiplank and/or vinyl trim
Shingles Type: Weight:Asphalt 240# Warranty: 30 yr. architectural
Sprinkler System Grinnell fire protection system throughout. Wet system
Cabinets Tri-Pac Composite Box, 3/4" shelf, oak face
Heat Pump SEER: Make:12 Goodman
Model:
Air Conditioner SEER: Make:12 Goodman
Model: CPK J18
Other Heat Systems SEER: Make:N/A
Model:
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This is a detailed breakdown of rehabilitation or construction costs you summarized in the Development Costs table (Rehabilitation andConstruction of New Building(s)). The total should match those roll-up values.
Costs - Construction
ITEM LABOR MATERIAL TOTAL
Concrete Footings 12,752 7,173 19,925
Backfill-slab, Crawl 39,030 31,933 70,963
Slab-concrete/Rebar/Gravel 0 0 0
Waterproofing 0 0 0
Masonry Foundation 0 0 0
Brick Veneer 25,190 21,416 46,606
Steel/Structure/Rails 24,144 28,339 52,483
Framing/Lumber/Nails 95,494 158,118 253,612
Trusses 0 62,168 62,168
Crane Rental 0 6,511 6,511
Windows/Grilles/Screen 0 14,865 14,865Exterior Doors 0 38,792 38,792
Roofing 10,575 7,404 17,979
Fencing 14,263 4,255 18,518
Vinyl Siding/Trim/Box 61,718 17,912 79,630
Gutters/Shutters 4,185 4,719 8,904
Insulation 14,212 21,317 35,529
Drywall 47,738 31,824 79,562
Interior Doors 23,542 54,933 78,475
Int. & Final/Stair/Trim/Shelves 0 0 0
Cabinets & Tops 26,982 40,474 67,456
Painting 34,988 28,627 63,615
Marble - Tub/Shwr/Tops 0 0 0
Plumbing 51,673 73,246 124,919
Electrical 33,744 44,731 78,475
Heating/Air Conditioning 35,397 58,384 93,781
Floor Covering and Underlayment 14,877 34,713 49,590
Wall Paper 10,116 10,116 20,232
Mailboxes/Special Features/Signage 278 3,228 3,506
Gypcrete 0 0 0
Blinds/Shades/Art Work 3,283 7,681 10,964
Light Fixtures/Fans 0 0 0
Sprinkler System 0 0 0
Security Alarm 0 0 0
Hardwood Floors 0 0 0
Elevator 0 0 0
Ceramic Tiles 0 0 0
Acoustical Ceilings 0 0 0
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Remarks:
Mirror/Shower Door/Encls. 0 0 0
Hardware/Bath Access. 0 19,590 19,590
Appliances 0 58,551 58,551
Playground Equipment 0 1,948 1,948
Interior Clean 10,017 0 10,017
Exterior Clean/Dumpster 9,183 0 9,183
Other 1 (specify in Remarks) 5,676 5,566 11,242
Other 2 (specify in Remarks) 37,330 45,676 83,006
Total Cost 646,387 944,210 1,590,597
Other 1. Driveway, sidewalks, porchOther 2. Site Utilities
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This is a detailed breakdown of the General Requirements cost element you summarized in the Development Costs table (GeneralRequirements). The total should match that roll-up value.
Remarks:
Costs - General
ITEM TOTAL
Supervision 61,489
Job Site Office/Trailer Rental 4,359
Impact Fees
Office Supplies 0
Security/Watchman 9,504
Water and Sewer Connection Fees
Project Signage 0
Tools and Equipment 2,235
Gas, Oil, and Maintenance 0
Cleanup/Dumpster Rental 1,789
Temporary Water, Electric, and Telephone 3,690Storage/Hauling 0
Driveway Access Permit 7,546
Porta-John Rental/Dumping 3,688
Builders Risk Insurance 4,360
Re-inspection Fees 0
Extra Plans and Specifications 0
Miscellaneous, Casual Labor 0
Equipment Rental 0
Other 1 (specify in Remarks) 0
Other 2 (specify in Remarks) 0
Total Cost 98,660
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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 0
Clearing/Grading/Final Grading/Excess and Borrow 49,424
Demolition 0
Earthwork/Excavation/Aerating 13,420
Soil Treatment 2,291
Pile Foundations 0
Caissons 0
Shoring/Bracing 0
Site Drainage 12,962
Site Utilities/Site Lighting 52,370
Paving and Surfacing/Curb and Gutter 34,497Walkways 0
Site Signage 1,637
Parking Lot Painting 654
Dumpsite Pads/Fencing 3,273
Fencing/Gates 0
Landscaping/Topsoil 33,061
Waterproofing/De-Watering 0
Operation of Construction Equipment/Fuel/Oil 0
Crane Rental 0
Rock and Hardpan Excavation 0
Site Supervision Personnel 7,200
Other (specify in Remarks) 15,711
Total Cost 226,500
Other - Hauling Trash
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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
Credit Enhancement
Underwriter Discount
Capital Interest Fund
Other 1 (specify in Remarks)
Other 2 (specify in Remarks)
Total Cost 0
N/A
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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
Issuer Counsel
Credit Enhancement/LOC Counsel
Underwriter Counsel
Developer's Counsel
Rating Agency Fee
Printing
Trustee Fee
Trustee Counsel
Other 1 (specify in Remarks)
Other 2 (specify in Remarks)Other 3 (specify in Remarks)
Total Cost 0
N/A
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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:
High Income county:
At least twenty-five percent (25%) of qualified units will be affordable to households with incomes at or below thirty percent (30%) ofcounty median income.
At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below thirtypercent (30%) of county median income.
At least fifty percent (50%) of qualified units will be affordable to households with incomes at or below forty percent (40%) of countymedian income.
At least fifty percent (50%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.
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 county
median 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.
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 Permitted zoning letter (including conditional and special use)
I Site plan, floor plans and elevations
J Hazard and structural inspection and termite reports (Renovation projects only)
K Description of any existing conditions of historical significance.
L Description of environmental significance.
M Anticipated budget demonstrating how the project would meet the 10% test by November 14th.
N Evidence of Architect's Errors and Omissions insurance (or equivalent).
O Description of acquisition for existing/occupied projects or for projects with occupied buildings to be demolished.
P Description of proposed Relocation Plan & Relocation Budget, Etc. If any relocation is anticipated, reference Appendix F.
Q Targeting Plan and supporting documentation (Required for projects targeted to Special Populations)
R Local Housing Authority Agreement (Reference Model in Appendix I)
S Appraisal (for land costs greater than $5,000 and for buildings in rehab projects)
T Evidence of Permanent Loan Commitment, other sources of funds, and project-based subsidies.
U Statement regarding terms of Deferred Developer Fee and, if nonprofit, resolution of Board approving fee.
V Inducement Resolution (Tax-Exempt Bond Financed Projects only)
W Documentation to support estimated utility costs.
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