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8/6/2019 Curlin Commons App
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If yes, please describe:
get Population:Elderly (55)
ll the project be receiving project based federal rental assistance? No
If yes, provide the subsidy source: and number of units:
icate below any additional targeting for special populations proposed for this project:
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal andstate codes.)
Number of Units:
Persons with disabilities or homeless populations: 10% of the total units.
Number of Units:
Remarks:
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2
4
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pplicant Information
icate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. UnderP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant mustome part of the ownership entity. The applicant will execute the signature page for this application.
pplicant Name: The Affordable Housing Group of North Carolina, Inc.
ddress: 1300 Baxter Street, Suite 215
ty: Charlotte State: NC Zip:ntact: First: Kathy Last:Stilwell Title:Director of Real Estate Development
lephone:
t Phone:
x:
mail Address:
OTE: Email Address above will be used for communication between NCHFA and Applicant.
ttps://www.nchfa.org/Rental/RTCApp/(S(1rf3kertcw...28F074583CD&SNID=D0662482E7CF44038230CA104BF5CB47 (3 of 29)9/16/2008 1:48:11 PM
28204
(704)968-7202
(704)376-8709
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te Description
al Site Acreage: Total Buildable Acreage:
If buildable acreage is less than total acreage, please explain:A total of 18.1 acres are available, with 10.5 +/- acres to be subdivided from the main parcel for CurlinCommons to comply with zoning maximum of 4 units per acre. A dry creekbed with limited wetlanddeliniated and Public Service Gas line will be crossed to access the building site to the rear of the property.
ntify utilities and services currently available (and with adequate capacity) for this site:
Storm Sewer Water Sanitary Sewer Electric
he demolition of any buildings required or planned? No
If yes, please describe:
existing buildings on the site currently occupied? No
If yes:(a) Briefly describe the situation:
(b) Will tenant displacement be temporary?(c) Will tenant displacement be permanent?
he site directly accessed by an existing, paved, publicly maintained road? Yes
If no, please explain:
ny portion of the site located inside the 100 year floodplain? No
If yes:(a) Describe placement of project buildings in relation to this area:
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10.03 9
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(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
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te Control
es the owner have fee simple ownership of the property (site/buildings)?No
If yes provide:
Purchase Date: Purchase Price:
If 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 forpurchase of the property and the seller of the property?YesIf yes, specify the relationship:The lessor is the Catholic Diocese of Charlotte which is the parent non-profit of the Catholic Diocese ofCharlotte Housing Corporation
(c) Enter the current expiration date of the option/contract to purchase:
(D) Enter Purchase Price:
ttps://www.nchfa.org/Rental/RTCApp/(S(1rf3kertcw...28F074583CD&SNID=D0662482E7CF44038230CA104BF5CB47 (6 of 29)9/16/2008 1:48:11 PM
12/31/2008
0
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oning
sent zoning classification of the site:R20A
multifamily use permitted?Yes
variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?No
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:
there any existing conditions of historical significance located on the project site that will require State Historic Preservation office review?
If yes, describe below:
there any existing conditions of environmental significance located on the project site?No
If yes, describe below:
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wnership Entity
wner Name: Curlin Commons LLCdress: 1300 Baxter Street, Suite 215
y: Charlotte State:NC Zip:
deral Tax ID Number of Ownership Entity: (If assigned)
te: Do not submit social security numbers for individuals.tity Type: Limited Liability Companytity Status: Already Formedhe applicant requesting that the Agency treat the application as Non-Profit sponsored? Yeshe applicant requesting that the Agency treat the application as CHDO sponsored? Not all general partners, members,and principals. Specify nonprofit corporate general partners or members.ck [Add] to add additional partners, members, and principals.
Org: Curlin Commons Housing of Mooresville Inc.
st Name: Kathy Last Name: Stilwell Function: Managing Memberddress: 1300 Baxter Street, Suite 215
ty: Charlotte State: NC Zip: 28204
one: Fax:
Mail: Nonprofit: No
Org: The Affordable Housing Group of North Carolina, Inc.
st Name: Kathy Last Name: Stilwell Function: Member
ddress: 1300 Baxter Street, Suite 215
ty: Charlotte State: NC Zip: 28204
one: Fax:
Mail: Nonprofit: Yes
Org: Catholic Diocese of Charlotte Housing Corporation
st Name: Jerry Last Name: Widelski Function: Member
ddress: 1123 S. Church Street
ty: Charlotte State: NC Zip: 28203
one: Fax:
Mail: Nonprofit: Yes
ttps://www.nchfa.org/Rental/RTCApp/(S(1rf3kertcw...28F074583CD&SNID=D0662482E7CF44038230CA104BF5CB47 (8 of 29)9/16/2008 1:48:11 PM
28204
20-8564011
(704)968-7202 (704)376-8709
(704)968-7202 (704)376-8709
(704)370-3248 (704)370-3377
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Community space within residential bulding(s) - Sq. Ft. (Floor Area):
Elevators - Number of Elevators:
uare Footage Information
oss Floor Square Footage:
tal Net Sq. Ft. (All Heated Areas):
es
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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8,841
1
54,646
52,543
http://www.nchfa.com/lib/html/rental/Median%20Income%20Charts/income_limits.htmhttp://www.nchfa.com/lib/html/rental/Median%20Income%20Charts/income_limits.htm8/6/2019 Curlin Commons App
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rgeting
cify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to createther row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.
BRs Units %
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
al Low Income Units:
te: This number should match the total number of low income units in the Unit Mix section.
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7 30
10 50
11 60
3 30
4 50
5 60
40
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unding Sources
Source AmountNon-
Amortizing*Rate(%)
Term(Years)
Amort.Period(Years)
AnnualDebt
Service
Bank Loan
RPP Loan
Local Gov. Loan - Specify:
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan
Other Loan 1 - Specify:FHLB - Direct Subsidy
Other Loan 2 - Specify:
Other Loan 3 - Specify:
Tax Exempt Bonds
State Tax Credit(Loan)
State Tax Credit(Direct Refund)
Equity: Federal LIHTC
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees
Owner Investment
Other - Specify:
Total Sources**
"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.
timated pricing on sale of Federal Tax Credits: $0.
marks concerning project funding sources:ease be sure to include the name of the funding source(s))
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500,000 2.00 20 20
160,000 2.00 20 30 7,097
500,000 1.00 20 20
542,553 0 30 30 0
3,873,441
57,721
225,000
5,858,715
84
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ans with Variable Amortizationase fill in the annual debt service as applicable for the first 20 years of the project life.
nk Loan
ar:mt:
1 2 3 4 5 6 7 8 9 10
ar:mt:
11 12 13 14 15 16 17 18 19 20
her Loan 1 - FHLB - Direct Subsidy
ar:mt:
1 2 3 4 5 6 7 8 9 10
ar:mt:
11 12 13 14 15 16 17 18 19 20
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28000 28000 28000 27500 27000 27000 26500 25500 25000 24500
23500 22500 21500 20000 19000 17500 16000 14000 12500 10500
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
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60 Tax Credit Rate
61 Federal Tax Credits at Estimated Rate
62 Federal Tax Credits at 9.00% or 3.75% (maximum $1,000,000)
63 Federal Tax Credits Requested
64 Land Cost
65 TOTAL REPLACEMENT COST
FEDERAL TAX CREDITS IF AWARDED
Comments:
Total Replacement Cost per unit: 115,777
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3.40 8.50
461,170 0 461,170
488,298 0 488,298
461,144 461,144
0
5,858,715
488,298
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arket Study Information
ase provide a detailed description of the proposed project:rlin Commons is proposed as a single building containing 40 apartments on two floors. There will be anvator and core of amenities at the entry to the building and smaller sitting areas adjacent to laundry
cilities. The building design creates two interior courtyards for resident use - one in a formal design withewalks, benches and gardens - the second is a less formal area with shade trees and lawns. The site is
cated adjacent to an active church and very nice single family homes. The property is located in a quietidential area, but is less than a mile from a variety of shopping, support services, recreation andtaurants in the quickly developing Mooresville community.
nstruction (check all that apply):
Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches
Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding
Other:
ve you built other tax credit developments that use the same building design as this project?No
If yes, please provide name and address:
e Amenities:terior amenities include covered porch, patio, covered entry portico, landscaped courtyard, sidewalks.erior amenities include chapel, manager office, library/computer center, multipurpose area with kitchen,rlor with sitting area and TV, sitting areas adjacent to main entry, two laundry facilities per floor, residentlk storage closets.
site Activities:tholic Social Services will be active and will coordinate a variety of activities. Services shall beablished to meet the identified needs of the residents. Examples of such could include senior excercisesses, health screenings, movie night, covered dish dinners, game night, day trips, etc.
ndscaping Plans:
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operty will include foundation plantings with special detail on interior courtyard spaces with lighting,ewalks/paths, outdoor sitting area. Larger courtyard will include shade trees and lawn areas.
erior Apartment Amenities:partments are spacious with large kitchens with pantry, and bathrooms with linen closets. Each unit entryrecessed to provide privacy and sense of personal space. Bedrooms are large with walk-in closets anduble windows in the master. In addition to linen, pantry and walkin closets, each unit also includes twoditional storage spaces within the unit and bulk item storage in a seperate area on the same floor. Allits will include emergency pull stations in the bathroom and master bedroom and grab bar in the tub area.
you plan to submit additional market data (market study, etc.) that you want considered? No
If yes, please make sure to include the additional information in your pre-application packet.
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pplicant's Site Evaluation
efly describe your site in each of the following categories:
EIGHBORHOOD CHARACTERISTICS
end and direction of real estate development and area economic health. Physical condition of buildings andprovements in the immediate vicinity. Concentration of affordable housing.ee original application
URROUNDING LAND USES AND AMENITIES
nd use pattern is residential in character (single and multifamily housing). Extent that the location islated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:stewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distribution
cilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,
urces of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount andaracter of vacant, undeveloped land. The neighborhood surrounding Curlin Commons is a mix of middle toper middle class single family homes, new and existing highway commercial including retail and services,d a limited amount of light industrial. Undeveloped land includes the balance of the Diocese owned sited heavily wooded land to the rear of the proposed development.
TE SUITABILITY
dequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilitiesarticularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project signin relation to traffic corridors. Highway 150 is a main artery into Mooresville, and the entrance to Curlinmmons will be on the less traveled Overhead Bridge Road - both roads are in good condition and able tondle additional traffic. Curlin Commons will be situated to the rear of the 18 acre parcel, but will be visiblem Highway 150 and Overhead Bridge Road. Project signage will be located at the entrance off Overhead
idge Road and should be visible from Highway 150.gree of on-site negative features and physical barriers that will impede project construction or adverselyect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, largeulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-tability for residential use and difficulties posed by the building(s), such as limited parking, environmental
oblems or the need for excessive demolition).ee original application
milarity of scale and aesthetics/architecture between project and surroundings.ee original application
each applicable neighborhood feature, enter distance from project in miles.
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Grocery Store Community/SeniorCenter
Mall/Strip Center Hospital
Outdoor Athletic Fields Pharmacy
Day Care/After School Basic Health Care
Schools
Public Transportationop
Convenience Store
Public Parks
Gas Station
Library
her facilities or services:
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12.6
3
5 .1
.1
5
4
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evelopment Team
vide contact information for development team members below:
nagement Agent mpany: Excel Property Managment
ddress: 1004 Bullard Court, Suite 106
ty: Raleigh State: NC Zip:
one Email:
ntact Name: First: Rita Last: Blackmon
hitect mpany: Tise Kiester Architects
ddress: 119 E. Franklin Street, Suite 300
ty: Chapel Hill State: NC Zip:
one Email:
ntact Name: First: Don Last: Tise
orney mpany: Jordan Price Wall
ddress: 1951 Clark Avenue
ty: Raleigh State: NC Zip:
one Email:
ntact Name: First: Susan Last: Ellinger
estor mpany: Apollo
ddress: 2101 Rexford Road, Suite 375W
ty: Charlotte State: NC Zip:
one Email:
ntact Name: First: Brian Last: Flanagan
nsultant/Application Preparer (if different from developer) mpany:
ddress:
ty: State: Zip:
one Email:
ntact Name: First: Last:
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27615
(919)878-0522 [email protected]
27612
(919)967-0158 [email protected]
27605
(919)831-4482 [email protected]
28211
(980)233-6462 [email protected]
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neral Contractor Identity of Interest?ompany: Crosland (or other as negotiated)
ddress: 227 W. Trade Street, Suite 800
ty: Charlotte State: NC Zip:
one Email:
ntact Name: First: Susan Last: Lloyd
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28202
(704)561-5247 [email protected]
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ojected Operating Costs
Project Operations (Year One) Administrative Expenses
Advertising
Office Salaries
Office SuppliesOffice or Model Apartment Rent
Management Fee
Manager or Superintendent Salaries
Manager or Superintendent Rent Free Unit
Legal Expenses (Project)
Auditing Expenses (Project)
Bookkeeping Fees/Accounting ServicesTelephone and Answering Service
Bad Debts
Other Administrative Expenses (specify):
SUBTOTAL
Utilities Expense
Fuel Oil
Electricity (Light and Misc. Power)Water
Gas
Sewer
SUBTOTAL
Operating and Maintenance Expenses
Janitor and Cleaning Payroll
Janitor and Cleaning Supplies
Janitor and Cleaning Contract
Exterminating Payroll/Contract
Exterminating Supplies
Garbage and Trash Removal
Security Payroll/Contract
Grounds Payroll
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1,000
2,500
16,070
17,000
1,500
4,900
1,5623,000
Training, travel, postage1,500
49,032
8,000
8,000
5,000
21,000
500
1,000
924
2,000
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Grounds Supplies
Grounds Contract
Repairs Payroll
Repairs Material
Repairs Contract
Elevator Maintenance/Contract
Heating/Cooling Repairs and Maintenance
Swimming Pool Maintenance/Contract
Snow Removal
Decorating Payroll/Contract
Decorating Supplies
Other (specify):
Miscellaneous Operating & Maintenance Expenses
SUBTOTAL
Taxes and Insurance
Real Estate Taxes
Payroll Taxes (FICA)
Miscellaneous Taxes, Licenses and Permits
Property and Liability Insurance (Hazard)
Fidelity Bond Insurance
Workmen's Compensation
Health Insurance and Other Employee Benefits
Other Insurance:
SUBTOTAL
Supportive Service Expenses
Service Coordinator
Service Supplies
Tenant Association Funds
Other Expenses (specify):
SUBTOTAL
Reserves
Replacement Reserves
SUBTOTAL
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2,800
6,000
12,480
1,500
3,000
3,500
1,000
2,000
1,000
37,704
23,000
2,903
12,990
70
1,200
40,163
0
10,000
10,000
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TOTAL OPERATING EXPENSES
ADJUSTED TOTAL OPERATING EXPENSES (Does not include taxes, reserves and resident support services) *TOTAL UNITS(from total units in the Unit Mix section)
PER UNIT PER YEAR
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157,899
124,899
40
3,122
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2. "Total Operating Expenses" comes from 1st-year cash flow, then it is escalated by 4% per year.3. "Debt Service" is the sum of "regular/amortized loan debt service + non-amortizing annual service" as entered by user from
Funding Sources section.4. "Net Cash Flow" is "Net Rental/Other Income" minus "Total Operating Expenses" minus "Debt Service".5. "Debt Coverage Ratio" is ("Net Rental/Other Income" minus "Total Operating Expenses") divided by "Debt Service".
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inimum Set-Asides
NIMUM REQUIRED SET ASIDES (No Points Awarded):
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: No TaxCredit 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: No TaxCredit 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: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 BondsThreshold 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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ull Application Checklist
PLEASE indicate which of the following exhibits are attached to your application. Others may be required as noted.
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 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)
G Local Government Letter Confirming Zoning including any pending notices or hearings (original on letterhead, no fax orphotocopies)
H Letters from Local Utility Providers regarding availability and capacity (original on letterhead, no fax or photocopies)
I Documentation from utility company or local PHA to support estimated utility costs
J Appraisal (required for land costs greater than $15,000 and for all Adaptive Re-use and Rehab projects)
K Site plan, floor plans and elevations for all projects. Scope of work for Adaptive Re-use and Rehab projects. (Full Size, 24 x 36inches)
L Hazard and structural inspection and termite reports (Adaptive Re-use and Rehab projects only)
M Copy of certificate of occupancy or proof of placed-in-service date (Rehabs Only)
N 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.
O 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 lenders withreserve balances, 3) letter from lender that outlines assumption requirements.
P 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.
Q Statement regarding terms of Deferred Developer Fee. If a nonprofit is involved, a resolution from their board approvingdeferral of fee is required.
R Inducement Resolution (Tax-Exempt Bond Financed Projects only)