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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: Willow Grove
Address: Mt. Tabor Road
City: Red Springs County: Robeson Zip: 28377
Census Tract: 9603 Block Group:
Yes
No
Political Jurisdiction: Town of Red Springs
Jurisdiction CEO Name: First: Last:George Paris Title: Mayor
Jurisdiction Address: 217 S. Main Street
Jurisdiction City: Red Springs Zip: 28377-1621
Jurisdiction Phone: (910)843-5241
Site Latitude: 34.80888
Site Longitude: -79.16696
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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: Carolina Community Developers, LLC
Address: P.O. Box 29407
City: State: NC Zip:Greensboro 27429-9407
Contact: First: Last: Title:Maida Renson Manager
Telephone: (336)908-7718
Alt Phone: (336)292-3449
Fax: (336)852-9595
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
5.0 5.0
No
No
Yes
No
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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 (R) & Agriculture-Residential (AR)
Yes
Yes
Yes
A conditional use permit was approved by the Board of Commissioners on April 22, 2004.
No
No
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Notes
** 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 %
1 3 targeted at 50 percent of median income.
1 3 targeted at 60 percent of median income.
2 5 targeted at 50 percent of median income.
2 7 targeted at 60 percent of median income.
3 3 targeted at 50 percent of median income.
3 3 targeted at 60 percent of median income.
24
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Estimated pricing on sale of Federal Tax Credits: $0.
Remarks concerning project funding sources:(Please be sure to include the name of the funding source(s))
Funding Sources
Source AmountNon-
Amortizing*Rate(%)
Term(Years)
Amort.Period(Years)
AnnualDebt
Service
Bank Loan
RPP LoanLocal Gov. Loan - Specify:
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan
Other Loan 1 - Specify:
Other Loan 2 - Specify:
Other Loan 3 - Specify:
Tax Exempt Bonds
State Tax Credit(Loan) 844,648 0 30 30 0
State Tax Credit(Direct Refund)
Equity: Federal LIHTC 1,670,124 Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees
Owner Investment 100
Other - Specify:
Total Sources** 2,514,872
* "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.
75
Raymond James Tax Credit Funds is the source o f Federal LIHTC equity.
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Development Costs
Item Cost Element TOTAL COST Eligible Basis30% PV 70% PV
1 Purchase of Buildings (Rehab) 02 Demoli tion3 On-site Improvements 293,470 248,8004 Rehabilitation5 Construction of New Building(s) 1,197,785 1,197,7856 Accessory Building(s)7 General Requirements 88,295 88,2958 Contractor Overhead 31,198 31,1989 Contractor Profit 93,593 93,593
10 Construction Contingency 51,130 51,13011 Architect's Fee - Design 25,000 25,00012 Architect's Fee - Inspection 14,000 14,000
SUBTOTAL (lines 1 through 12) 1,794,47113 Construction Insurance (prorate)14 Construction Loan Orig. Fee (prorate) 16,000 10,66715 Construction Loan Interest (prorate) 40,000 40,00016 Construction Loan Credit Enhancement (prorate)17 Construction Period Taxes (prorate) 500 50018 Water, Sewer and Impact Fees 18,125 18,12519 Survey 13,750 13,75020 Property Appraisal 800 80021 Environmental Report 3,000 3,00022 Market Study 4,000 4,000
23 Other Basis Expense (specify)
24 Cost of Issuance25 Placement Fee26 Permanent Loan Origination Fee27 Permanent Loan Credit Enhancement28 Title and Recording 5,000
SUBTOTAL (lines 13 through 28) 101,17529 Real Estate Attorney 6,750 6,75030 Other Attorney's Fees31 Tax Credit App Fees 16,721 16,721
32 Cost Cert. and Other Professional Fees 17,000 17,000
33 Tax Opinion 3,50034 Organizational (Partnership) 12,75535 Tax Credit Monitoring Fee 12,600
SUBTOTAL (lines 29 through 35) 69,32636 Furnishings and Equipment 7,500 7,50037 Relocation Expenses38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 277,150 277,150
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) 284,65044 Rent up Reserve 35,000
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Comments:
45 Operating Reserve 80,250
46 Other Reserve (specify)
47 Other Reserve (specify)
48 DEVELOPMENT COST (lines 1-47) 2,364,872 0 2,165,76449 Less Federal Financing50 Less Disproportionate Standard51 Less Nonqualified Nonrecourse Financing
52 Less Historic Tax Credit (residential) 053 TOTAL ELIGIBLE BASIS 2,165,764 0 2,165,76454 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%55 Basis Before Boost 2,165,764 0 2,165,76456 Boost for QCT/DDA (if applicable, enter 130%) 130.00% 130.00%57 TOTAL QUALIFIED BASIS 2,815,493 0 2,815,49358 Tax Credit Rate 0.00% 7.91%59 Federal Tax Credits at Estimated Rate 222,705 0 222,70560 Federal Tax Credits at 8.5% or 3.75% 239,316 0 239,31661 Federal Tax Credits Requested 2,393,170 2,393,17062 Land Cost 150,00063 TOTAL REPLACEMENT COST 2,514,872
Additional operating reserves are required for small development with no project-based rentalassistance in a very small rural town in a county with a low median income.
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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
The proposed development will consist of 24 units in 12 attractive duplexes and a communitybuilding that is intended to address a significant housing shortage in Red Springs. The duplexes aredesigned to appear as if they are single-family homes, and therefore integrate easily into thesurrounding neighborhoods. The interiors will be bright and cheerful, and include such features aswalk-in closets, patios and front porches.
The site will include a computer area in the community room, a playgound, walking trails, gardenspots and other amenities.
Yes
Stokesburg Meadows in Walnut Cove, NC is currently under construction.
Community Bldg - Sq Ft: 1,302 Community Room - Sq Ft: Garages - Number:
Laundry Rm Screened Porch Resident Computer Center Exam Rm Reading Rm/Library
Game/Craft Rm Exercise Rm TV Rm Beauty Salon Vending Rm
Chapel/Prayer Rm Picnic Area Onsite Leasing Office Onsite Mgr Onsite Maint. Person
Irrigated Lawns Security Gate Car Care Area Storage Units Gazebos
Walking Trails Garden Spots Basketball/Tennis Court Playground Ball Field
Pool Fitness Stations Horseshoe Pit Shuffleboard Covered Drive Thru
The resident manager will be responsible for on-site activities and programs. Residents will haveaccess to a computer center in the community building for education and recreational use. Thecommunity room will also offer a full kitchen and serve as a community gathering area.
The site will be generously and attractively landscaped including some perimeter trees to define andscreen the property, scattered shade and ornamental trees, and foundation plantings.
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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
No
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Briefly describe your site in each of the following categories:
For each applicable neighborhood feature, enter distance from project in miles.
Applicant's Site Evaluation
NEIGHBORHOOD CHARACTERISTICS
Physical condition of buildings and improvements. Trend and direction of real estate developmentrelative to the project. Area economic health (degree of decline or investment). Concentration of
affordable housing.The surrounding neighborhood consists of an attractive mix of residential, commercial and farmproperties. The neighborhood is well-maintained and includes some recent development reflecting agrowth trend in this area of Red Springs. There is no evidence of economic decline in this area.
Suitability of surrounding development. Land use pattern is primarily residential (single andmultifamily housing) with a balance of other uses (particularly retail and amenities). Amount andcharacter of vacant, undeveloped land. Effect of industrial, large-scale institutional or otherincompatible uses: wastewater treatment facilities, high traffic corridors, junkyards, prisions, landfills,large swamps, distribution facilities, frequently used railroad tracks, power transmission lines andtowers, factories or similar operations, sources of excessive noise, and sites with environmentalconcerns (such as odors or pollution).
The area includes a blend of single-family residences, retail establishments, restaurants, a heathfacility and medical offices and other professional services. There is one affordable elderly complexin the area that will not compete for the family population targeted by this proposed development.
There are no incompatible uses or other negative factors in the local neighborhood.
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 site will be accessed from Mt. Tabor road which has more than adequate capacity and trafficcontrols to serve the current and future needs of the area. It is also one block east of NC highway211.
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 is some farmland adjacent to the east side of the property and across the street. There are noincompatible uses or other negative factors in the neighborhood.
Similarity of scale and aesthetics/architecture between project and surroundings.The duplexes are designed to appear as if they are single-family homes, and therefore shouldintegrate easily and blend will into the surrounding neighborhood. The attractive designs shouldenhance the aesthetics of the local neighborhood and represent an asset to the Town of RedSprings.
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Other facilities or services:
Grocery Store0.1 Community/Senior Center0.9
Mall/Strip Center0.1 Hospital15.3
Outdoor Athletic Fields1.8 Pharmacy0.1
Day Care/After School0.2 Basic Health Care0.8
Schools1.8 Medical Offices0.8
Public Transportation Stop Bank/Credit Union0.5
Convenience Store0.1 Restaurants0.1
Basketball/Tennis Courts1.8 Professional Services
Public Parks0.8 Movie Theater8.2
Gas Station0.1 Video Rental0.8
Library1.6 Public Safety (Fire/Police)0.2
Fitness/Nature Trails1.0 Post Office1.2
Public Swimming Pools0.4
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Development List number low-income/tax credit housing projects and units developed, operated, and maintained in compliance by the principal(s) betweenDecember 1, 1996 and January 1, 2003:
Management List number of low-income housing tax credit units managed in the past 10 years:
Has any owner, principal, or management agent been debarred or received a limited denial participation in the past 10 years by any federal orstate agency?
Has any owner, principal, or management agent been involved in a bankruptcy, an adverse fair housing settlement, an adverse civil rightssettlement, 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 subsidizedproject?
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 carryoveragreement 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 orreceived a letter of non-compliance from the Agency?
Project Team Experience
North Carolina Other States
Projects: 6 1
Units: 146 22
North Carolina Other States
Projects: 66 27
Units: 2,205 1,123
No
No
No
No
No
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Financing Commitments
Does the project have a firm commitment for construction financing? No
Does the project have a letter of intent for private permenant financing? No
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 ExpensesAdvertising 750Office SalariesOffice Supplies 472
Office or Model Apartment RentManagement Fee 17,112Manager or Superintendent SalariesManager or Superintendent Rent Free UnitLegal Expenses (Project)Auditing Expenses (Project) 3,000Bookkeeping Fees/Accounting ServicesTelephone and Answering Service 900Bad DebtsOther Administrative Expenses (specify):Training (600), Credit Bureau (450), Postage (300), Magistrate Fees (200), Multi-site (400), Other Fees and Exp (676) 2,626
SUBTOTAL 24,860
Utilities ExpenseFuel OilElectricity (Light and Misc. Power) 2,850Water 600GasSewerSUBTOTAL 3,450Operating and Maintenance ExpensesJanitor and Cleaning PayrollJanitor and Cleaning SuppliesJanitor and Cleaning ContractExterminating Payroll/ContractExterminating SuppliesGarbage and Trash Removal 2,500Security Payroll/ContractGrounds PayrollGrounds SuppliesGrounds Contract 3,320Repairs Payroll 8,150Repairs Material 1,440Repairs Contract 2,600Elevator Maintenance/ContractHeating/Cooling Repairs and MaintenanceSwimming Pool Maintenance/ContractSnow RemovalDecorating Payroll/Contract 4,000Decorating SuppliesOther (specify):
Miscellaneous Operating & Maintenance ExpensesSUBTOTAL 22,010Taxes and InsuranceReal Estate Taxes 12,000Payroll Taxes (FICA)Miscellaneous Taxes, Licenses and Permits
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Design Features
ITEM DESCRIPTION
Foundation/Slab Components Concrete Strip Footing with Concrete Turn Down
Primary Windows Make: Model:Allen Co. Thermal Break Frame Type/Construction: Aluminum Single Hung
Exterior Doors Type: Frames:Insulated Metal Wood
Siding Type: Grade/Thickness:Vinyl .045
Warranty: 20 Year
Exterior Trim Wood with Aluminum Wrap
Shingles Type: Weight:Fiberglass 225#
Warranty: 25 Year
Sprinkler System None
Cabinets Mesa by Marsh
Heat Pump SEER: Make:11.0 Trane or Equal
Model:
Air Conditioner SEER: Make:N/A N/A
Model: N/A
Other Heat Systems SEER: Make:N/A N/A Model: N/A
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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 12,650 13,703 26,353
Backfill-slab, Crawl 5,989 5,989
Slab-concrete/Rebar/Gravel 42,162 63,243 105,405
Waterproofing 0
Masonry Foundation 23,812 9,726 33,538
Brick Veneer 40,497 18,194 58,691
Steel/Structure/Rails 1,437 5,749 7,186
Framing/Lumber/Nails 75,460 140,141 215,601
Trusses 15,092 28,028 43,120
Crane Rental 5,390 5,390
Windows/Grilles/Screen 3,162 23,189 26,351Exterior Doors 2,336 13,236 15,572
Roofing 18,398 19,931 38,329
Fencing 0
Vinyl Siding/Trim/Box 19,704 36,592 56,296
Gutters/Shutters 2,875 3,114 5,989
Insulation 12,074 13,080 25,154
Drywall 43,120 28,747 71,867
Interior Doors 5,192 29,424 34,616
Int. & Final/Stair/Trim/Shelves 2,875 11,499 14,374
Cabinets & Tops 9,774 30,951 40,725Painting 14,201 15,384 29,585
Marble - Tub/Shwr/Tops 0
Plumbing 28,747 67,076 95,823
Electrical 29,705 44,558 74,263
Heating/Air Conditioning 11,978 47,911 59,889
Floor Covering and Underlayment 10,061 23,477 33,538
Wall Paper 0
Mailboxes/Special Features/Signage 419 3,773 4,192
Gypcrete 0
Blinds/Shades/Art Work 311 2,803 3,114
Light Fixtures/Fans 0
Sprinkler System 0
Security Alarm 0
Hardwood Floors 0
Elevator 0
Ceramic Tiles 0
Acoustical Ceilings 0
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Remarks:
Mirror/Shower Door/Encls. 0
Hardware/Bath Access. 1,916 7,666 9,582
Appliances 1,138 21,620 22,758
Playground Equipment 5,749 6,228 11,977
Interior Clean 3,563 629 4,192
Exterior Clean/Dumpster Rental 9,163 1,617 10,780
Other 1 (specify in Remarks) 3,622 3,924 7,546
Other 2 (specify in Remarks) 0
Total Cost 462,572 735,213 1,197,785
Gazebo Total Cost: $7,546
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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 32,422
Job Site Office/Trailer Rental 5,474
Office Supplies 1,148
Security/Watchman
Project Signage 689
Tools and Equipment 1,386
Gas, Oil, and Maintenance 6,622
Temporary Water, Electric, and Telephone 5,739
Storage/Hauling 5,501
Driveway Access Permit
Porta-John Rental/Dumping 7,770Builders Risk Insurance 7,770
Re-inspection Fees
Extra Plans and Specifications 1,413
Miscellaneous, Casual Labor
Equipment Rental 7,064
Other 1 (specify in Remarks) 5,297
Other 2 (specify in Remarks)
Total Cost 88,295
Building Permit - $5,298
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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
Issuer's Fee
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:
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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