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Print Preview - FinalApplicationTax Credits, RPP Loans, and/or Tax Exempt Bond Loans
roject Description
oject Name: Springbrook Apartments
dress: Crescent Drive
ty: Wilson County: Wilson Zip:
ensus Tract: 4 Block Group: 2
project in Qualified Census Tract or Difficult to Develop Area? Yes
olitical Jurisdiction: City of Wilson
risdiction CEO Name:First:Bruce Last:Rose
Title: Mayor
risdiction Address: 112 Goldsboro Street East
risdiction City: Wilson Zip:
risdiction Phone:
e Latitude:
e Longitude:
oject Type: New Construction
this project a previously awarded tax credit development? Yes
If yes, what is the project number: 2223 Is this a request for supplemental credits?No
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
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27893
27893
(252)399-2310
35.7257
-77.9194
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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:
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3
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. 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: Guilford Financial Services, LLC
dress: Post Office Box 29407
ty: Greensboro State: NC Zip:
ontact: First: Maida Last:Renson Title:Manager
lephone:
Phone:
x:
mail Address:
OTE: Email Address above will be used for communication between NCHFA and Applicant.
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27429-9407
(336)373-0600
(336)908-7718
(336)373-0601
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te Description
al Site Acreage: Total Buildable Acreage:
If buildable acreage is less than total acreage, please explain:
A portion of the property is set aside for potential wetlands and a buffer from a nearby floodplain as well asa for stormwater retention area.
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? Yes
If yes:(a) Describe placement of project buildings in relation to this area:
All of the buildings are at least 25 feet away from the edge of the 100 year floodplain and will be built well
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8.75 5.4
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above the floodplain level.
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
No project improvements will be within the 100 year floodplain. We will leave a buffer between the potentialfloodplain and the buildings. In addition, all buildings will be on building pads that will be built up to insure
that all finished floors are well above the 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?NoIf yes, specify the relationship:
(c) Enter the current expiration date of the option/contract to purchase:
(D) Enter Purchase Price:
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05/23/2008
437,500
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oning
esent zoning classification of the site:RA-8
multifamily use permitted?Yes
e 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 obta
them:
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: Wilson MMR Limited Partnership
dress: Post Office Box 29407
y: Greensboro State:NC Zip:
deral Tax ID Number of Ownership Entity: (If assigned)
ote: Do not submit social security numbers for individuals.
tity Type: Limited Partnership
tity Status: Already 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: Wilson MMR GP, LLC
st Name: Maida Last Name: Renson Function: Managing General Partnerdress: P. O. Box 29407
ty: Greensboro State: NC Zip: 27429-9407
one: Fax:
Mail: Nonprofit: No
Org: Guilford Financial Services, LLC
st Name: Maida Last Name: Renson Function: Principal
dress: P. O. Box 29407
ty: Greensboro State: NC Zip: 27429-9407
one: Fax:
Mail: Nonprofit: No
Org: Carolina Community Developers, LLC
st Name: Maida Last Name: Renson Function: Principal
dress: P. O. Box 29407
ty: Greensboro State: NC Zip: 27429-9407
one: Fax:
Mail: Nonprofit: No
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27429-9407
26-1394492
(336)373-0600 (336)373-0601
(336)373-0600 (336)373-0601
(336)373-0600 (336)373-0601
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ype # BRs Net Sq.Ft.Total
# Units#Units
MonthlyRent
UtilityAllowance
MandatoryServ. Fees
**TotalHousing Exp.
ti li ties included in rents: Water/Sewer Electric Gas Other
atistics
All
Units
Units
Gross Monthly
Rental 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.
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38 6 15004
38 6 15004
19 2
1,089
37,000
36,195
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 Spring Brook App
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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
targeted at percent of median income affordable to
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to
targeted at percent of median income affordable to
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to
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.
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3 40
3 50
6 60
5 40
4 50
9 60
2 40
2 50
4 60
38
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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:
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 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))
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587,800
0.00 20 20
825,568 0 30 30 0
3,701,802
100
5,115,270
75
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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.
PP Loan
ear:mt:
1 2 3 4 5 6 7 8 9 10
ear:mt:
11 12 13 14 15 16 17 18 19 20
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21674 21076 20411 19675 18862 17968 16990 15932 14757 13493
12122 10639 9038 7312 5455 3458 1315 0 0 0
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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
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861,733 861,733
2,187,131 2,186,381
178,730 178,730
63,151 63,151
248,805 248,805
106,134 106,134
65,668 65,668
43,650 43,650
31,260 31,260
3,786,262
34,825 34,825
145,000 129,320
617 617
2,250 2,250
70,260 70,260
1,250 1,250
8,800 8,800
4,300 4,300
5,500
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SUBTOTAL (lines 14 through 29)
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
SUBTOTAL (lines 30 through 37)
38 Furnishings and Equipment
39 Relocation Expense
40 Developer's Fee
41
42
43 Rent-up Expense
44
45
SUBTOTAL (lines 38 through 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
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272,802
7,500 5,000
25,000
2,200
34,844
15,000 13,045
4,000
13,000
26,600
128,144
13,000 13,000
399,000 399,000
Other Basis Expense (s
Other Basis Expense (s
17,100
Other Non-basis Expen
Other Non-basis Expen
429,100
11,400
82,562
Other Reserve (specify)
Other Reserve (specify)
4,710,270 0 4,467,179
0
4,467,179 0 4,467,179
100.00% 100% 100%
4,467,179 0 4,467,179
130.00% 130.00%
5,807,333 0 5,807,333
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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:
land appraised less than purchase price
Total Replacement Cost per unit:95,939
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3.40 8.50
493,623 0 493,623
522,660 0 522,660
498,590 498,590
405,000
5,115,270
522,660
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arket Study Information
ase provide a detailed description of the proposed project:
is project will consist of 19 duplex buildings (for a total of 38 units) plus a community building on a siteat totals approxumately 8.75 acres. A portion of the site is set aside as non-buildable to protect potentialetlands.
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:
Architectural shingles, multiple roof lines, gables, dormers, and many architectural details.
ve you built other tax credit developments that use the same building design as this project?Yes
If yes, please provide name and address:
Willow Grove Apartments322 Mt. Tabor RoadRed Springs, NC 28377
Stokesburg MeadowsStokesburg RoadWalnut Cove, NC 27042
e Amenities:
ayground, walking trails consisting of a 4' to 6' continuous sidewalk around the property, gazebo, coveredcnic area with 2 tables and grill, three outdoor sitting areas with benches,community room with TV,sident computer center (with 2 computers with high speed internet access), common laundry area, andchenette.
site Activities:
e site manager will be responsible for all on-site activities and programs. The manager will also holdecial events throughout the year, and especially at holiday times.
esidents will have access to a computer center with high-speed internet access in the community buildingeducational and recreational use. The community building will also include full kitchen facilities and
ting area.
ndscaping Plans:
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e site will retain some of the natural woods as perimeter buffers as well as attractive foundation plantingsd specimen evergreen and deciduous trees and bushes such as holly, deodora cedars, azaleas, crepe
yrtle and other attractive species.
erior Apartment Amenities:
partments will include ranges, range hoods, dishwashers, refrigerators, storage, washer/dryer hookups,
ni-blinds, pantries, TV cable connections, and walk-in closets.
you plan to submit additional market data (market study, etc.) that you want considered? Yes
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.
here is a significant amount of growth in the area, especially on the western portion of Wilson. The area
round the site has recently experienced significant commercial growth. The commercial sites are generallyewer, well-maintained and successful.
his economic vitality is also supported by a large development of single family homes being constructedn land adjacent to the proposed site.
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 proposed site is ideally situated in an area with new single familymes as well as many attractive retail and commercial establishments that will offer convenient amenities to
e residents. There is no known incompatible land use near the site that would adversely affect the residentsany way. There is no land close to the site that is vacant or is not in the process of being developed.
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. The site is situated near Forest Hills Road, a road that is well designed, and
s adequate traffice controls to handle the retail, commercial and residential traffic. Residents will enter andit the site onto a new extension of Crescent Drive before going to Forest Hills Road. Public transportationavailable very nearby on Forest Hills Road. A bus route has been included in the packet of additional
arketing materials attached to this application. The development will be at least partially visible to traffic onrest Hills Road.
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, largeulders, 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 site includes approximately three acres that might be considered wetlands. The site plan, however, wasarefully designed to avoid and protect these areas. There are no other known potential impediments tother construction or enjoyment of the residents.
milarity of scale and aesthetics/architecture between project and surroundings.
he proposed structures represent a design that should integrate nicely with the architectural style andcale with the nearby single family homes recently built and under construction.
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r each applicable neighborhood feature, enter distance from project in miles.
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:
e City of Wilson also offers a large number of cultural and recreation facilities and events. For example,sidents can visit Imagination Station, a science and technology center. They can go to the botanicalrdens, the symphony, the North Carolina Baseball Museum, go to the races, watch the Wilson Tobs playseball, go fishing at the reservoir and other cultural and historic activities.
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12.3
3 0.9
8 0.5
4 0.2
8
1
2
3
2
2
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evelopment Team
ovide contact information for development team members below:
nagement Agent
ompany: Partnership Property Management
dress: P.O. Box 26405
ty: Greensboro State: NC Zip:
one Email:
ontact Name: First: Mike Last: Holoman
chitect
ompany: Smith Norwood Architecture & Design, PA
dress: 608 Gaston St., Suite 100
ty: Raleigh State: NC Zip:
one Email:
ontact Name: First: Jill Last: Smith
orney
ompany: Schell,Bray,Aycock,Abel & Livingston, PLLC
dress: 230 N.Elm St. Suite 1500
ty: Greensboro State: NC Zip:
one Email:
ontact Name: First: Garland Last: Graham
estor
ompany: Raymond James Tax Credit Funds, Inc.
dress: 880 Carillon Parkway, Dept. 20485
ty: St. Petersburg State: FL Zip:
one Email:
ontact Name: First: Craig Last: Descalzi
nsultant/Application Preparer (if different from developer)
ompany:
dress:
ty: State: Zip:
one Email:
ontact Name: First: Last:
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27404-6405
(800)735-2962 [email protected]
27603
(919)807-1111 [email protected]
27401
(336)370-8843 [email protected]
33716
(800)438-8808 Craig.Descalzi@RaymondJames.
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neral Contractor Identity of Interest?
ompany: EST General Contractors, Inc.
dress: 100 Tilghman Dr.
ty: Dunn State: NC Zip:
one Email:
ontact Name: First: Ed Last: Turlington
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28334
(910)891-5465 [email protected]
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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
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1,000
10,920
2,000
20,520
3,000
2,500
Training 350,Cr.Bureau7,375
47,315
3,000
600
3,600
5,400
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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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10,800
12,775
4,000
6,000
6,750
45,725
27,360
2,400
6,500
900
150
37,310
0
9,500
9,500
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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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143,450
106,590
38
2,805
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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:Moderate Income County:
At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below percent (40%) of county median income.
At least fifty percent (50%) of qualified units will be affordable to households with incomes at or below fifty percent (50%) of comedian income.
At least fifty percent (50%) of qualified units will be affordable to and occupied by households with incomes at or below fifty per(50%) 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)