Sandy Ridge App

8/6/2019 Sandy Ridge App

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

roject Description

oject Name: Sandy Ridge Apartments

dress: 46 N. Selma Road

ty: Wendell County: Wake Zip:

ensus Tract: 544.01 Block Group: 3025

project in Qualified Census Tract or Difficult to Develop Area? No

olitical Jurisdiction: Town of Wendell

risdiction CEO Name:First: Harold Last:Broadwell

Title: Mayor

risdiction Address: 15 East Fourth Street

risdiction City: Wendell Zip:

risdiction Phone:

e Latitude:

e Longitude:

oject Type: New Construction

this project a previously awarded tax credit development? No

If yes, what is the project number: Is this a request for supplementalcredits?

w Construction/Adaptive Reuse: his project a follow-on (Phase II, etc) to a previously-awarded tax credit development project? No

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

ehab:

umber of residents holding Section 8uchers:

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

es a community revitalization plan exist? No

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

ll the project include a Community Service Facility under IRS Revenue Ruling 2003-77?o

ttps://www.nchfa.org/Rental/RTCApp/(S(3efksd55h...3E50865B93&SNID=0A69E131A7B248468802353E2088E44B (1 of 29)9/17/2008 10:09:14 AM

27591

27591

(919)365-4445

35.7818

-78.3623



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If yes, please describe:

rget Population:Family

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:


6

5



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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. UndeP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant

come part of the ownership entity. The applicant will execute the signature page for this application.

pplicant Name: Evergreen Construction Company

dress: 7706 Six Forks Road, Suite 202

ty: Raleigh State: NC Zip:

ontact: First: Tim Last:Morgan Title:Vice President

lephone:

Phone:

x:

mail Address:

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


27615

(919)848-2041

(919)630-3383

(919)848-0455

[email protected]



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te Description

al Site Acreage: Total Buildable Acreage:

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

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:

e 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:

any portion of the site located inside the 100 year floodplain? No

If yes:(a) Describe placement of project buildings in relation to this area:


4.58 4.58



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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 fopurchase of the property and the seller of the property?YesIf yes, specify the relationship:

The property is owned by Lucius S. Jones. His son, Lucius S. (Sandy) Jones Jr. will be an active participantin the development of the project and will receive a portion of the developer fee for his services.

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

(D) Enter Purchase Price:


10/31/2008

458,000



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oning

esent zoning classification of the site:R-10

multifamily use permitted?Yes

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

If yes, have the hearings been completed and permits been obtained?Yes

If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for obta

them:A special use permit is required and was granted at the public hearing date on November 12, 2007.However, local opposition made the town aware that they failed to properly notify the public of the hearingdate (they fax the advertisement to the newspaper but somehow the newspaper didn't see the fax).Subsequently the town informed us in writing that they were voiding the permit and would require us to gothrough another public hearing, which has been set for February 11, 2008. The special use was granted.

e there any existing conditions of historical significance located on the project site that will require State Historic Preservation office re

If yes, describe below:

e 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: Sandy Ridge Housing Associates, LLC

dress: 7706 Six Forks Road, Suite 202

y: Raleigh State:NC Zip:

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

ote: Do not submit social security numbers for individuals.

tity Type: Limited Liability Company

tity Status: To Be Formed

the applicant requesting that the Agency treat the application as Non-Profit sponsored? No

the applicant requesting that the Agency treat the application as CHDO sponsored? No

st all general partners, members,and principals. Specify nonprofit corporate general partners or members.ck [Add] to add additional partners, members, and principals.

Org: Sandy Ridge Housing Associates, LLC

st Name: Lyle Last Name: Gardner Function: Managing Memberddress: 7706 Six Forks Road, Suite 202

ty: Raleigh State: NC Zip: 27615

one: Fax:

Mail: Nonprofit: No


st Name: Timothy Last Name: Morgan Function: Member

ddress: 7706 Six Forks Road, Suite 202

ty: Raleigh State: NC Zip: 27615

one: Fax:

Mail: Nonprofit: No


st Name: Lucius Last Name: Jones, Jr. Function: Member

dress: 426 Old Wilson Road

ty: Wendell State: NC Zip: 27591

one: Fax:

Mail: Nonprofit: No


27615

(919)848-2041 (919)848-0455

[email protected]

(919)848-2041 (919)848-0455

[email protected]

(919)365-7196 (919)365-3070

[email protected]





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AllUnits

Units

Gross MonthlyRental Income

Low Income.......

Market Rate.......

Totals...............

oposed number of residential buildings: Maximum number of stories in buildings:

oject Includes:Separate community building - Sq. Ft. (Floor Area):

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):

tes

Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low inc

units are within established thresholds.


45 6 24555

45 6 24555

8 2

1,003

57,542

53,994

http://www.nchfa.com/lib/html/rental/Median%20Income%20Charts/income_limits.htm

http://www.nchfa.com/lib/html/rental/Median%20Income%20Charts/income_limits.htm



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argeting

ecify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to cother 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



tal Low Income Units:

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


2 30

5 30

5 30

1 50

7 50

5 50

1 60

11 60

8 60

45



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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:WCHS

RD 515 Loan

RD 538 Loan - Specify:

AHP Loan

Other Loan 1 - 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 serbelow.

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

timated pricing on sale of Federal Tax Credits: $0.

emarks concerning project funding sources:ease be sure to include the name of the funding source(s))

CCAR is the proposed lender for the bank loan.


1,186,068 6.50 30 40 83,327

515,000 2.00 30 30

445,979 0 30 30 0

3,032,353

101

5,179,501

80



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ans with Variable Amortizationease fill in the annual debt service as applicable for the first 20 years of the project life.

ocal Gov. Loan - WCHS

ear:mt:

1 2 3 4 5 6 7 8 9 10

ear:mt:

11 12 13 14 15 16 17 18 19 20


567 1513 2424 3297 4128 4914 5650 6331 6953 7511

8000 8413 8747 8993 9147 9200 9146 8977 8686 8263



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evelopment Costs

Item Cost Element TOTAL COSTEligible Basis

30% PV 70% PV

1 Purchase of Building(s) (Rehab / Adaptive Reuse only)

2 Demolition (Rehab / Adaptive Reuse only)

3 On-site Improvements

4 Rehabilitation

5 Construction of New Building(s)

6 Accessory Building(s)

7 General Requirements (max 6% lines 2-6)

8 Contractor Overhead (max 2% lines 2-7)

9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest)

10 Construction Contingency (max 3% lines 2-9, Rehabs 6%)

11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10)

12 Architect's Fee - Inspection

13 Engineering Costs

SUBTOTAL (lines 1 through 13)

14 Construction Insurance (prorate)

15 Construction Loan Orig. Fee (prorate)

16 Construction Loan Interest (prorate)

17 Construction Loan Credit Enhancement (prorate)

18 Construction Period Taxes (prorate)

19 Water, Sewer and Impact Fees

20 Survey

21 Property Appraisal

22 Environmental Report

23 Market Study

24 Bond Costs

25 Bond Issuance Costs

26 Placement Fee

27 Permanent Loan Origination Fee

28 Permanent Loan Credit Enhancement

29 Title and Recording


540,000 540,000

2,500,000 2,500,000

182,400 182,400

64,448 64,448

193,344 193,344

104,406 104,406

45,000 45,000

9,750 9,750

51,250 51,250

3,690,598

8,500 8,500

85,000 85,000

5,500 5,500

154,890 154,890

10,000 10,000

5,000 5,000

3,000 3,000

5,800 5,800

21,960

5,500



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30 Real Estate Attorney

31 Other Attorney's Fees

32 Tax Credit Application Fees (Preliminary and Full)

33 Tax Credit Allocation Fee (0.60% of line 59, minimum $7,500)

34 Cost Certification / Accounting Fees

35 Tax Opinion

36 Organizational (Partnership)

37 Tax Credit Monitoring Fee


38 Furnishings and Equipment

39 Relocation Expense

40 Developer's Fee

41

42

43 Rent-up Expense

44

45


46 Rent up Reserve

47 Operating Reserve

48

49

50 DEVELOPMENT COST (lines 1-49)

51 Less Federal Financing

52 Less Disproportionate Standard

53 Less Nonqualified Nonrecourse Financing

54 Less Historic Tax Credit

55 TOTAL ELIGIBLE BASIS

56 Applicable Fraction (percentage of LI Units)

57 Basis Before Boost

58 Boost for QCT/DDA (if applicable, enter 130%)

59 TOTAL QUALIFIED BASIS


305,150

9,750 9,000

7,000 5,000

2,200

26,759

5,000 5,000

5,000

31,500

87,209

472,500 472,500

Other Basis Expense (s

Other Basis Expense (s

20,250

Other Non-basis Expen

Other Non-basis Expen

492,750

13,500

132,294

Other Reserve (specify)

Other Reserve (specify)

4,721,501 0 4,459,788

0

4,459,788 0 4,459,788

100.00% 100% 100%

4,459,788 0 4,459,788

100.00% 100.00%

4,459,788 0 4,459,788



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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: 79,658


3.40 8.50

379,082 0 379,082

401,381 0 401,381

354,107 354,107

458,000

5,179,501

401,381



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arket Study Information

ase provide a detailed description of the proposed project:

e are proposing to construct a forty-five (45) unit family rental community off N. Selma Road (near theersection of Fourth Street) in Wendell. The project will have (4) one bedroom, one bath units (2) twodroom, one bath units, (21) two bedroom, one and a half bath units and (18) three bedroom, two bathits. Both garden and townhouse style units will be availabe. There will also be a separate office/ mmunity/laundry building, a playground with separate tot lot, a covered picnic area with tables and grill, azebo, outdoor sitting areas and a computer center (located in the office building) for the residents to use.

e site's close proximity to the downtown area makes it a desirable location. In addition, 10% of the unitsl be targeted to persons with disabilities.

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:

30 Year Dimensional Shingles

ve you built other tax credit developments that use the same building design as this project?Yes

If yes, please provide name and address:

Autumn Trace Apartments2401 Fall LaneRaleigh, NC 27604

Ashebrooke Apartments227 Randall LaneGoldsboro, NC 27534

e Amenities:

aground with separate tot lot, resident computer center (located in office building), covered picnic areath tables and grill, outdoor sitting areas, a gazebo, community room and laundry facilities.

site Activities:

ndscaping Plans:




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e buildings will have landscaped beds around them. Trees will also be planted and dispersed throughoute property. Landscape plans will exceed Town of Wendell standards.

erior Apartment Amenities:

all to wall carpet, VCT in kitchen and bath areas, range, range hood, frost free refrigerator, dishwasher,

asher/dryer connections, panty, ceiling fans, mini-blinds, phone and cable ready.

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.

he physical condition of the buildings and homes near the site are fair. The site is within walking distance

the downtown area (Main Street) of Wendell. Main Street has some older homes at the south end thatre fairly well maintained. The direction of the development for Wendell is further west of the site, back onusiness 64. Cedar Spring, a 20 unit tax credit senior development is within close proximity of the site.obinwood, located on Hanor Lane, just as you come into Wendell, is an 84 unit RD tax credit seniorevelopment. Across from Robinwood is Maple Court Apartmetns, a well maintained older RD development.

URROUNDING LAND USES AND AMENITIES

nd use pattern is residential in character (single and multifamily housing). Extent that the location isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:astewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distributioncilities, 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 site is densly wooded and is bordered to the south by an in-tive rail line. On the opposite side of the track is primarily single-family residential development.mediately east of the site is primarily light industrial development.

TE SUITABILITY

equate 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. Street and highway accessibility are very good relative to the site. Ready

cess from the site to all major facilities can be attained within a 5 minute drive. Access to the site will be offSelma Road. Visibility of the buildings and signage is excellent.

egree 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, large

ulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-itability for residential use and difficulties posed by the building(s), such as limited parking, environmentaloblems or the need for excessive demolition).

he approximately 4.5 acre, L-shaped site is a densely wooded and undulating site.

milarity of scale and aesthetics/architecture between project and surroundings.

he project will feature both garden and townhouse style units, with a slight craftsmen style to them and will

ompliment the surrounding area.

r each applicable neighborhood feature, enter distance from project in miles.




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Grocery StoreCommunity/Senior

Center

Mall/Strip Center Hospital

Outdoor Athletic Fields Pharmacy

Day Care/After School Basic Health Care

Schools

Public Transportation

op

Convenience Store

Public Parks

Gas Station

Library

her facilities or services:ental Offices - .9, Hospital - Zebulon, Downtown area is within walking distance of site, banks -.4,staurants - .4


01.0

5

8 .6

8

8

6

2



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evelopment Team

ovide contact information for development team members below:

nagement Agent

ompany: Evergreen Construction Company

dress: 7706 SIx Forks Road


one Email:

ontact Name: First: Tim Last: Morgan

chitect

ompany: Andron Architects And Associates

dress: 11312 Saddleview Court


one Email:

ontact Name: First: Bob Last: Andron

orney

ompany: Law Offices of Howard S. Kohn

dress: 205 W. Millbrook Road, Suite 210


one Email:

ontact Name: First: Howard Last: Kohn

estor

ompany: CAHEC

dress: 7700 Falls of Neuse Road


one Email:

ontact Name: First: Yolanda Last: Winstead

nsultant/Application Preparer (if different from developer)

ompany:

dress:

ty: State: Zip:

one Email:

ontact Name: First: Last:


27615

(919)848-2041 [email protected]

27613


27609


27615




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neral Contractor Identity of Interest?

ompany: Evergreen Construction Company

dress: 7706 Six Forks Road


one Email:

ontact Name: First: Tim Last: Morgan


27615




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rojected Operating Costs

Project Operations (Year One)

Administrative Expenses

Advertising

Office Salaries

Office Supplies

Office 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 Services

Telephone 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


2,500

3,000

19,144

20,000

250

4,300

3,000

52,194

9,500

1,500

1,500

12,500

3,500

8,500



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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


3,500

9,500

20,000

3,500

3,500

3,500

3,500

700

59,700

28,000

4,000

250

6,750

50

2,000

1,500

42,550

2,500

2,500

11,250

11,250



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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


180,694

138,944

45

3,088





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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: NCredit 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: NCredit 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 (30county median income.At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below percent (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 comedian income.At least fifty percent (50%) of qualified units will be affordable to and occupied by households with incomes at or below forty pe(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 per(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 per(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 per(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, 24inches)

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 dwell ings 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 lenderreserve 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)

Documents

Sandy Ridge App