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 Na me: Cedar Spring - A Senior Living Community Address: 100 S. Hollybrook Road City: Wendell County: Wake Zip: 27591 Census Tract: 0544.02 Block Group: 2021 No No Politi ca l Jurisdiction: Town o f Wendell Jurisdiction CEO Name: First: Last: Tim Hinnant Title: Mayor Juri sd iction Ad dress: P. O. Box 828 Jurisdiction City: Wendell Zip: 27591 Jurisdiction Ph one: (919)365- 4444 Site Latitude: 35.7791 Site Longitude: -78.3666 Page 1 of 34 Print - APP04-0178 1/14/2005 https://www.nchfa.org/Rental/RTCApp/(hq0kzb551fhluqeyl4nt2tez)/site/PrintApp.aspx?II...
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8/6/2019 Cedar Spring
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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: Cedar Spring - A Senior Living Community
Address: 100 S. Hollybrook Road
City: Wendell County: Wake Zip: 27591
Census Tract: 0544.02 Block Group: 2021
No
No
Political Jurisdiction: Town of Wendell
Jurisdiction CEO Name: First: Last:Tim Hinnant Title: Mayor
Federal Tax ID Number of Ownership Entity: (If assigned)
Federal Tax ID Number of Managing GP or Member: (If Not Assigned)028-40-6430
Entity Type: Limited Liability Company
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: Cedar Spring Housing Associates, LLC
First Name: Lyle Last Name: Gardner Function: Managing Member
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
We are proposing to construct a twenty (20) unit senior rental community at the corner of 100 S.Hollybrook Road and 200 E. Second Street in the Town of Wendell. The project will consist of (10)one bedroom, one bath units and (10) two bedroom, one bath units for persons 55 years of age andolder. The design of the building is such that all units are fully accessible. The building is served byone elevator and the main entrance is secured with a call panel entry system. All exterior doors are
self locking with all residential units opening into a interior hallway. We will have over 5,000 s.f. ofcommon area space for the residents use. There will be a computer center, a library/reading room, amulti-purpose room with a full size kitchen, a vending area, laundry room, a TV room and additionalstorage rooms for the residents use. We will have units set aside for persons at 40% and up to 60%of median income. In addition, we will have a contracted supportive services coordinator throughResources for Seniors, to assist with screening and determining the needs of the residents and withlinking them to agencies that exist within the community to help with their needs.
30 Year Dimensional Roof Shingles
Yes
Berkeley Spring5521 Dixon DriveRaleigh, NC 27609Berkeley Spring is very similar in design with what we are proposing. The main difference isBerkeley is rectangular in shape. What we are proposing in Wendell is an L-shaped version.
Community Bldg - Sq Ft: Community Room - Sq Ft: 5,760 Garages - Number:
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
Onsite activities will consist of bingo, bible studies, monthly birthday celebrations, holidaygatherings, use of computer and exercise equipment, and planned movie nights.
Briefly describe your site in each of the following categories:
Applicant's Site Evaluation
NEIGHBORHOOD CHARACTERISTICS
Physical condition of buildings and improvements. Trend and direction of real estate developmentrelative to the project. Area economic health (degree of decline or investment). Concentration of
affordable housing.The physical condition of the buildings and homes within view of the site are fair. The site is veryclose to the downtown area (Main Street) of Wendell. Main street has some older homes at thesouth end that are fairly well maintained. The direction of development for Wendell is further west ofthis site, back on Business 64. There are two other senior housing complexes in Wendell,Robinwood and Crestfield. Robinwood is a 84 unit RD/LIHTC project and Crestfield is a 40 unit HUD202. Directly across the street from this site, are 10 units of what appear to be affordable housingunits. Also across the street is the senior center.
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).
This site is directly across the street from the senior center, which serves as a nutrition site for theelderly. The public library is also across the street. Within walking distance is the historic downtownarea of Wendell, that has a variety of shops and businesses. Abuting this parcel is Cedar Trace, a12 unit conventional rental community. Across the street are additional rental units consisting of (5)duplex buildings. Traveling south on Hollybrook Road, the land use is almost all single family. Thehomes closest to the site look to be twenty plus years old. But going further south on Hollybrook are(2) new subdivisions, Deerfield and HollyPointe, that appear to be completely built out. Also withinview from the site is the Mortex Apparel Company and a couple of warehouses they own. There areno vacant tracts of land nearby. This is a downtown site with business/commercial uses to the northand single family uses to the south.
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).There are two publicly maintained streets that adequately access this site (Hollybrook Road andSecond Street). The town has a stop sign in place where these two streets intersect. Hollybrook
Road, traveling North, feeds into Wendell Avenue, which takes you back out to Business 64. Theredo not appear to be any traffic issues related to this site.
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.None exist. This is a cleared, relatively flat parcel.
Similarity of scale and aesthetics/architecture between project and surroundings.What we are proposing will help this area of Wendell. As previously stated, the new growth isoccuring back towards Hwy 64. It will a lso give the senior population another housing option that iswithin walking distance of the senior center.
For each applicable neighborhood feature, enter distance from project in miles.
Other facilities or services:
Grocery Store1 Community/Senior Center.08
Mall/Strip Center2.5 Hospital
Outdoor Athletic Fields.6 Pharmacy.4
Day Care/After School Basic Health Care
Schools.6 Medical OfficesPublic Transportation Stop Bank/Credit Union.2
Convenience Store.3 Restaurants.23
Basketball/Tennis Courts.6 Professional Services.09
Public Parks.6 Movie Theater
Gas Station.6 Video Rental1.2
Library.08 Public Safety (Fire/Police).21
Fitness/Nature Trails Post Office2.5
Public Swimming Pools
There are two dentist offices .7 mile from the site. The nearest hospital is East Wake Hospital inZebulon. The downtown area of Wendell is within easy walking distance, again offering a variety ofbusinesses and services. See vicinity map for location of facilities and services in relation to the site.
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 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?
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? Yes
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
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.
Masonry Foundation included in Brick Veneer.Trusses included in Framing.Labor costs for the following are included in Materials: Vinyl Siding, Gutters, Insulationk, Drywall,Cabinets, Painting, Plumbing, Electrical, HVAC, Floor Covering, Mailboxes, Blinds, Elevator,Hardware/Bath.
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.
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.
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.
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)
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.
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.
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.