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Andrews Park

Apr 07, 2018

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

    New Construction/Adaptive Reuse: Is this project a follow-on (Phase II, etc) to a previously-awarded tax credit development project?

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

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

    Does a community revitalization plan exist?

    Target Population: Family

    Will the project be receiving project based federal rental assistance?

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

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

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

    Project Description

    Project Name: Andrews Park

    Address: 300 Slade Street

    City: Williamston County: Martin Zip: 27892

    Census Tract: 9702 Block Group: 3

    No

    Political Jurisdiction: Town of Williamston

    Jurisdiction CEO Name: First: Last:Tommy Roberson Title: MayorJurisdiction Address: PO Box 506

    Jurisdiction City: Williamston Zip: 27892

    Jurisdiction Phone: (252)792-5142

    Site Latitude: 35.8481

    Site Longitude: -77.0601

    Project Type: Rehab

    Rehab:

    Is this project a previously awarded tax credit development? No

    If yes, what year were credits awarded?:

    Number of residents holding Section 8 vouchers: 0

    No

    No

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

    Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77? NoIf yes, please describe:

    Yes

    5050

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

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    Number of Units: 0

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

    Number of Units: 5

    Remarks: Mobility impaired handicapped--the development consists of townhouse units with all bedroomslocated on the 2nd floor. This prevents us from providing fully accessible units to the residents.However, we will make every effort to install accessible features on the first floor.

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

    Applicant Information

    Applicant Name: Pendergraph Development, LLC

    Address: PO Box 19691

    City: State: NC Zip:Raleigh 27619

    Contact: First: Last: Title:Frankie Pendergraph

    Telephone: (919)755-0558

    Alt Phone: (919)861-6028

    Fax: (919)754-8663

    Email Address: [email protected]

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

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    Total Site Acreage: Total Buildable Acreage:

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

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

    Storm Sewer Water Sanitary Sewer Electric

    Is the demolition of any buildings required or planned?If yes, please describe:

    Are existing buildings on the site currently occupied?If yes:(a) Briefly describe the situation:

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

    Is the site directly accessed by an existing, paved, publicly maintained road?If no, please explain:

    Is any portion of the site located inside the 100 year floodplain?If yes:(a) Describe placement of project buildings in relation to this area:

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

    Site Description

    7.7 7.7

    Yes

    The existing laundry/maintenance building will be demolished and replaced with a new communitybuilding and leasing office. This structure will include laundry, maintenance, leasing office,community room and other amenities.

    Yes

    Due to the scope of work being complete, we do not anticipate having to displace any residentsexcept for maybe one night. We will offer residents a night in the hotel if necessary and cover theirmeals during the time they will be away from their home. The general contractor will be made awareof the possible overnight displacement and this will be handeled within their contract.

    YesNo

    Yes

    No

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

    If yes provide:Purchase Date: Purchase Price:

    If no:

    Site Control

    No

    (a) Does the owner/principal or ownership entity have valid option/contract to purchase the property? Yes(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for

    purchase of the property and the seller of the property?If yes, specify the relationship:

    No

    (c) Enter the current expiration date of the option/contract to purchase: 12/1/2007

    (D) Enter Purchase Price: 1,044,000

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    Present zoning classification of the site:

    Is multifamily use permitted?

    Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?

    If yes, have the hearings been completed and permits been obtained?If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for obtainingthem:

    Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation officereview?

    If yes, describe below:

    Are there any existing conditions of environmental significance located on the project site?If yes, describe below:

    Zoning

    R8

    Yes

    No

    No

    No

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    Ownership Entity

    Owner Name: Andrews Park, LLCAddress: PO Box 19691

    City: State: NC Zip:Raleigh 27619

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

    Note: Do not submit social security numbers for individuals.Entity Type: Limited Liability CompanyEntity Status: To Be FormedIs the applicant requesting that the Agency treat the application as Non-Profit sponsored? NoIs the applicant requesting that the Agency treat the application as CHDO sponsored? NoList all general partners, members,and principals. Specify nonprofit corporate general partners ormembers. Click [Add] to add additional partners, members, and principals.

    Org: FWP Andrews Park, LLC

    First Name: Frankie Last Name: Pendergraph Function: Managing Member

    Address: PO Box 19691City: Raleigh State: NC Zip: 27619

    Phone: (919)755-0558 Fax: (919)754-8663

    EMail: [email protected] Nonprofit: No

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    The Median Income for Martin county is $47,100.

    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.

    Twn Hse 1 817 10 0 356 85 0 441

    Twn Hse 2 1003 30 0 414 96 0 510

    Twn Hse 3 1189 10 0 449 99 0 548

    Utilities included in rents: Water/Sewer Electric Gas Other Trash

    Type # BRs Net Sq.Ft.Total

    # Units#Units

    MonthlyRent

    UtilityAllowance

    MandatoryServ. Fees

    **TotalHousing Exp.

    Utilities included in rents: Water/Sewer Electric Gas Other

    Type # BRs Net Sq.Ft.Total

    # Units#Units

    MonthlyRent

    UtilityAllowance

    MandatoryServ. Fees

    **TotalHousing Exp.

    Utilities included in rents: Water/Sewer Electric Gas Other

    AllUnits

    Units

    Gross MonthlyRental Income

    Low Income....... 50 0 20470

    Market Rate.......

    Totals............... 50 0 20470

    Proposed number of residential buildings: 9 Maximum number of stories in buildings: 2

    Project Includes:Separate community building -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area): 1,6141,614

    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: 53,554

    Total Net Sq. Ft. (All Heated Areas): 48,074

    ** Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for lowincome units are within established thresholds.

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

    Total Low Income Units:

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

    Targeting

    # BRs Units %1 5 targeted at 50 percent of median income affordable to/occupied by

    2 15 targeted at 50 percent of median income affordable to/occupied by

    3 5 targeted at 50 percent of median income affordable to/occupied by

    1 5 targeted at 60 percent of median income affordable to/occupied by

    2 15 targeted at 60 percent of median income affordable to/occupied by

    3 5 targeted at 60 percent of median income affordable to/occupied by

    50

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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 Loan 205,000 0.00 30 30 6,833

    Local Gov. Loan - Specify:

    RD 515 Loan 569,000 1.00 50 50 14,465

    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) 935,749 0 30 30 0

    State Tax Credit(Direct Refund)

    Equity: Federal LIHTC 1,821,398 Non-Repayable Grant

    Equity: Historic Tax Credits

    Deferred Developer Fees 624 Owner Investment 182 Other - Specify:

    Total Sources** 3,531,953

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

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

    85

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    Development Costs

    Item Cost Element TOTAL COST Eligible Basis30% PV 70% PV

    1 Purchase of Building(s) (Rehab / Adaptive Reuse only) 844,000 769,0002 Demolition (Rehab / Adaptive Reuse only)

    3 On-site Improvements 115,000 88,0004 Rehabilitation 1,100,000 1,100,0005 Construction of New Building(s)6 Accessory Building(s) 80,000 80,0007 General Requirements 77,700 77,7008 Contractor Overhead 27,454 27,4549 Contractor Profit 82,362 82,362

    10 Construction Contingency 88,951 88,95111 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 40,000 40,00012 Architect's Fee - Inspection 10,000 10,00013 Engineering Costs 2,000 2,000

    SUBTOTAL (lines 1 through 13) 2,467,467

    14 Construction Insurance (prorate) 2,000 2,00015 Construction Loan Orig. Fee (prorate) 11,675 11,67516 Construction Loan Interest (prorate) 84,060 84,06017 Construction Loan Credit Enhancement (prorate)18 Construction Period Taxes (prorate) 2,000 2,00019 Water, Sewer and Impact Fees20 Survey 18,000 18,00021 Property Appraisal 10,000 10,00022 Environmental Report 16,000 16,00023 Market Study 4,200 4,20024 Bond Costs25 Bond Issuance Costs

    26 Placement Fee27 Permanent Loan Origination Fee28 Permanent Loan Credit Enhancement29 Title and Recording 8,000

    SUBTOTAL (lines 14 through 29) 155,93530 Real Estate Attorney 30,000 0 10,00031 Other Attorney's Fees 1,000 0 1,00032 Tax Credit Application Fees (Preliminary and Full) 2,20033 Tax Credit Allocation Fee (0.58% of line 59, minimum $7,500) 18,09134 Cost Certification / Accounting Fees 9,000 9,00035 Tax Opinion36 Organizational (Partnership) 5,000

    37 Tax Credit Monitoring Fee 27,500SUBTOTAL (lines 30 through 37) 92,791

    38 Furnishings and Equipment 15,000 15,00039 Relocation Expense40 Developer's Fee 555,760 30,760 525,000

    41 Lender Inspection Fees 5,000 5,000

    42 Syndicator Underwriting Fees 10,000 10,000

    43 Rent-up Expense

    44 Other Non-basis Expense (specify)

    45 Other Non-basis Expense (specify)

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    Comments:

    SUBTOTAL (lines 38 through 45) 585,76046 Rent up Reserve 15,00047 Operating Reserve

    48 Other

    49 Lease Up Fee 15,000

    50 DEVELOPMENT COST (lines 1-49) 3,331,953 799,760 2,319,402

    51 Less Federal Financing52 Less Disproportionate Standard53 Less Nonqualified Nonrecourse Financing54 Less Historic Tax Credit (residential) 055 TOTAL ELIGIBLE BASIS 3,119,162 799,760 2,319,40256 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%57 Basis Before Boost 3,119,162 799,760 2,319,40258 Boost for QCT/DDA (if applicable, enter 130%) 100.00% 100.00%59 TOTAL QUALIFIED BASIS 3,119,162 799,760 2,319,40260 Tax Credit Rate 3.45 8.0561 Federal Tax Credits at Estimated Rate 214,303 27,591 186,71162 Federal Tax Credits at 8.5% or 3.75% 227,140 29,991 197,149

    63 Max Federal Tax Credits (With Energy Star - Lesser of $8,500 per unit or$800,000, w/o - Lesser of $8,000 per unit or $800,000) 400,00064 Federal Tax Credits Requested 246,309 29,991 216,31865 Land Cost 200,00066 TOTAL REPLACEMENT COST 3,531,953

    FEDERAL TAX CREDITS IF AWARDED 227,140

    Total Replacement Cost per unit: 66,039Federal Tax Credits (line 62) per unit: 4,543

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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:

    Onsite Activities:

    Market Study Information

    Andrews Park (Critcher Manor) Apartments is a fifty unit, one, two and three bedroom, familydevelopment located on approximately 7.7 acres near downtown Williamston. The property wasconstructed in 1979. The current development is financed utilizing loan funds from RuralDevelopment and rental assistance from HUD, with all 50 units having rental assistance. The siteconsists of 9 residential buildings and a laundry/maintenance building. At the center of the propertyis an open grassy courtyard bordered by mature pine trees. The two story, townhouse stylebuildings feature wood framed designs with pitched shingle covered roof systems. The exteriorveneer is completely brick facing with the overhangs trimmed in aluminum soffit and aluminum coilon the fascia.

    It is our desire to improve the overall physical condition of this property, and improve the quality oflife of the current and future residents. A few of the much needed improvements are as follows:improve the connectivity of sidewalks for handicap accessible routes to all buildings and amenities,add much needed recreational and picnic areas for children and adults, replace aged anddeteriorated roof coverings, install new energy efficient vinyl windows, replace old and damagedappliances, replace old and inefficient HVAC units and air handlers, install new water heaters,replace all cabinets and countertops, replace carpet and vinyl flooring, repair plumbing and electricalproblems, repaint walls and ceilings, repair damaged gypsum wallboard, etc The existinglaundry/maintenance building will be demolished and replaced with a new facility likened to theresidential buildings in terms of architectural appearance. This new facility will house a leasingoffice, multi-purpose community room, computer center, exercise room, media room, kitchenette,unisex restroom and maintenance room. This new facility will be constructed in compliance with alllocal codes and all applicable accessibility requirements.

    You will note a more descriptive needs assessment in the work write-up attached to this application.

    See detailed work write-up for additional information.

    No

    Upon completion of the re-development of Andrews Park the property will have a variety of siteamenities to include: covered picnic shelter with tables and grilles, playground, outdoor sitting areaswith benches (minimum of 3 locations), continuous concrete walks, and a mail kiosk. All siteamenities shall comply with ADA requirements.

    Various activities will be offered on site, some seasonal, such as holiday events, social gatherings,newsletters and recreational activities. Additionally, there are many supportive services in thecommunity within one to two miles of the site. Also, the community room will be readily available for

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    Landscaping Plans:

    Interior Apartment Amenities:

    Do you plan to submit additional market data (market study, etc.) that you want considered?

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

    neighborhood/community activities. Tenant associations will also be formed to afford all tenants theopportunity to participate in community decisions.

    The current landscaping is original to the property, which was developed and constructed in 1979.All overgrown shrubs will be removed and new foundation and perimeter plantings will be installed.Vegetative buffers along the property boundary will be manicured to enhance appearance andfunction. All plant beds will be well defined and heavily mulched. Present areas that lack positivewater flow will be re-graded to eliminate standing water. Two new development signs will beinstalled at the two property entrances, with lighting and new landscaping.

    Interior apartment amenities will include VCT flooring in the kitchen and bathrooms, carpet in theliving room and bedrooms, electric heat pumps, electric range, range hood, range queenextinguisher devices, refrigerator and mini-blinds.

    Yes

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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

    Trend and direction of real estate development and area economic health. Physical condition ofbuildings and improvements. Concentration of affordable housing.Andrews Park (Critcher Manor) Apartments is located in a mixed use area consisting primarily ofresidential homes, but also includes some low intensity commercial related uses such as a schooland retail related uses. The development is located off Andrews Street and Slade Street, just twoblocks off US Hwy 17 Business which is a main artery to nearby downtown Williamston. Growth inWilliamston has been consistently on the rise with new retail strip centers recently constructedincluding a new Food Lion anchored center as well as new freestanding retail such as Eckerd. Thereis a new medical park currently under development by the hospital and a new medical mall underconstruction on Hwy 64 Alt. Several new hotels have been constructed in recent years which are astrong indicator of steady growth. There is not an over abundance of affordable housing inWilliamston. We have attached a site map showing various businesses, restaurants, services andother amenities within a one to two mile radius of the property.

    SURROUNDING LAND USES AND AMENITIES

    Suitability of surrounding development. Land use pattern is residential in character (single andmultifamily housing) with a balance of other uses (particularly retail and amenities). Effect ofindustrial, large-scale institutional or other incompatible uses, including but not limited to: wastewatertreatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distributionfacilities, frequently used railroad tracks, power transmission lines and towers, factories or similaroperations, sources of excessive noise, and sites with environmental concerns (such as odors orpollution). Amount and character of vacant, undeveloped land.The site is suitable for the current development. There are no physical barriers from the surroundingareas. The area surrounding the development is primarily residential in nature with no large tracts ofvacant undeveloped land surrounding the development. There is a railroad track adjacent to the rearof the property which is not frequently traveled. The property is buffered from the railroad track by anexisting mature natural buffer and fence, which we intend to supplement with additional plantings.

    SITE SUITABILITY

    Adequate traffic controls (stop lights, speed limits, turn lanes, etc.). Burden on public facilities(particularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location ofproject sign(s) in relation to traffic corridors.The development is located on a secondary road (Andrews and Slade Streets) which is adequate toaccommodate the traffic generated by the development. No improvements will be necessary to thecurrent road system.

    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 no degree of on-site negative features or physical barriers that would impede therehabilitation of this development or adversely affect current or future residents. The current parkingis adequate for the development size.

    Similarity of scale and aesthetics/architecture between project and surroundings.The development is located in a mixed use area and is similar in scale to the surroundingneighborhood, and architecturally compatible.

    Grocery Store0.2 Community/Senior Center1.9

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    Other facilities or services:

    Mall/Strip Center1.6 Hospital0.8

    Outdoor Athletic Fields0.7 Pharmacy1.6

    Day Care/After School1.3 Basic Health Care0.8

    Schools0.1 Medical Offices0.8

    Public Transportation Stop Bank/Credit Union0.3

    Convenience Store0.5 Restaurants0.8Basketball/Tennis Courts1.9 Professional Services1.0

    Public Parks1.9 Movie Theater

    Gas Station0.5 Video Rental1.3

    Library1.1 Public Safety (Fire/Police)0.2

    Fitness/Nature Trails1.9 Post Office1.1

    Public Swimming Pools1.9

    Williamston is a small community with all conveniences within one to two miles of the property. Thedowntown district is less than one mile from the site. A location map, with accompanyingphotographs, has been attached that shows the items listed above , additional features andservices, with actual names of business to aid in location of them

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    Project Operations (Year One)

    Projected Operating Costs

    Administrative ExpensesAdvertising 1,500Office Salaries 15,000Office Supplies 1,500Office or Model Apartment RentManagement Fee 22,000Manager or Superintendent SalariesManager or Superintendent Rent Free UnitLegal Expenses (Project) 1,000Auditing Expenses (Project) 0Bookkeeping Fees/Accounting Services 4,000Telephone and Answering Service 1,500Bad DebtsOther Administrative Expenses (specify):Training, Computer Software, office equipment 2,375

    SUBTOTAL 48,875Utilities ExpenseFuel OilElectricity (Light and Misc. Power) 5,000Water 15,000GasSewer 15,000SUBTOTAL 35,000Operating and Maintenance ExpensesJanitor and Cleaning Payroll 500Janitor and Cleaning SuppliesJanitor and Cleaning ContractExterminating Payroll/Contract 600

    Exterminating SuppliesGarbage and Trash Removal 2,600Security Payroll/ContractGrounds PayrollGrounds SuppliesGrounds Contract 10,000Repairs Payroll 19,000Repairs Material 500Repairs Contract 2,200Elevator Maintenance/ContractHeating/Cooling Repairs and Maintenance 3,000Swimming Pool Maintenance/Contract

    Snow RemovalDecorating Payroll/ContractDecorating Supplies 1,000Other (specify):

    Miscellaneous Operating & Maintenance ExpensesSUBTOTAL 39,400Taxes and InsuranceReal Estate Taxes 23,200Payroll Taxes (FICA) 2,000

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    Miscellaneous Taxes, Licenses and Permits 500Property and Liability Insurance (Hazard) 10,000Fidelity Bond Insurance 250Workmen's Compensation 1,000Health Insurance and Other Employee Benefits 3,000Other Insurance:

    SUBTOTAL 39,950Supportive Service ExpensesService CoordinatorService SuppliesTenant Association FundsOther Expenses (specify):

    SUBTOTAL 0ReservesReplacement Reserves 41,000SUBTOTAL 41,000

    TOTAL OPERATING EXPENSES 204,225

    ADJUSTED TOTAL OPERATING EXPENSES (Does not include taxes, reserves and resident support services) * 140,025TOTAL UNITS(from total units in the Unit Mix section) 50

    PER UNIT PER YEAR 2,800

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    MINIMUM REQUIRED SET ASIDES (No Points Awarded):

    Minimum Set-Asides

    Select one of the following two options:

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

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

    If requesting RPP funds:

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

    State Tax Credit and QAP Targeting Points:

    Low Income County:

    At least forty percent (40%) of qualified units will be affordable to households with incomes at or below fifty percent (50%) ofcounty median income.

    At least forty percent (40%) of qualified units will be affordable to and occupied by households with incomes at or below fiftypercent (50%) of county median income.

    Tax Exempt Bonds

    Threshold requirement (select one):

    At least ten percent (10%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent(50%) of county median income.

    At least five percent (5%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.

    Eligible for targeting points (select one):

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

    At least ten percent(10%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.

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    PLEASE indicate which of the following exhibits are attached to your application. Others may be required as noted.

    Full Application Checklist

    A Nonprofit Organization Documentation or For-profit Corporation Documentation

    B Current Financial Statements/Principals and Owners (signed copies)

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

    D Management Agent Agreement

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

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

    G Completed IRS Form 8821 (Appendix I)

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

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

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

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

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

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

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

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

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

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

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

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

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