clifton park

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Check all that apply:

Federal Low Income Housing Tax Credit

State Low Income Housing Tax Credit

Tax Exempt Bonds

Rental Production Program (RPP) Loan

Requested RPP Loan Amount:RPP Loan Product Requested:

Print Preview - Final Application

Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans

Resources Requested

of 34Print - APP03-0132

1/14/2005https://www.nchfa.org/Rental/RTCApp/(lfchcoyzftuedpy40toa1cyp)/site/PrintApp.aspx?II...



Is project in Qualified Census Tract & Difficult to Develop area:

Project Name and Location

Project Name: Clifton Park

Address: COWELL FARM ROAD

City: Washington County: BEAUFORT Zip: 27889

Census Tract: 9904 Block Group: 4

Yes

Political Jurisdiction: CITY OF WASHINGTON

Jurisdiction CEO Name: First: Last:STEWART RUMLEY Title: MAYOR

Jurisdiction Address: PO BOX 1988

Jurisdiction City: WASHINGTON Zip: 27889

Jurisdiction Phone: (252)975-9300

Site Latitude: 35.55254

Site Longitude: -77.03788





Is this project a follow-on (Phase II, etc) to a previously-awarded tax credit development project?

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

Will the project be receiving federal rental assistance?

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

Target Population: Family

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

Square Footage Information

Project Description

Project Type:* New Construction Rehab Adaptive Reuse

No

No

Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to other federal and staterequirements)

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

Remarks: persons with disabilities

Proposed number of residential buildings: 6 Maximum number of stories in buildings: 2

Types of Units:* Townhouse Duplex Garden Apartment Detached Single-Family

Project Includes:Separate community building -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area): 1,1671,167

Community space within residential bulding(s) -- Sq. Ft. (Floor Area):Sq. Ft. (Floor Area):

Elevators -- Number of Elevators:Number of Elevators:

Gross Floor Square Footage: 59,705

Total Net Sq. Ft. (All Heated Areas): 47,660





Applicant Information

Applicant Name: Pendergrant Development, LLC

Address: PO Box 18863

City: State: NC Zip:Raleigh 27619

Contact: First: Last: Title:Marilyn Hernandez Development Coordinator

Telephone: (919)755-0558

Alt Phone: (919)861-6028

Fax: (919)754-8663

Email Address: MHERNANDEZ@PENDERGRAPHPRO





Total Site Acreage: Total Buildable Acreage:

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

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

Storm Sewer Water Sanitary Sewer Electric

Is the demolition of any buildings required or planned?

If yes, please describe:

Are existing buildings on the site currently occupied?

If yes:(a) Briefly describe the situation:

(b) Will tenant displacement be temporary?

(c) Will tenant displacement be permanent?

Is the site in a distressed neighborhood?

If yes, does a community revitalization plan exist?

Is the site directly accessed by an existing, paved, publicly maintained road?

If no, please explain:

Is any portion of the site located inside the 100 year floodplain?

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

Site Description

4.5 4.5

No

No

No

Yes

No





(b) Describe flood mitigation if the project is in the East Region and will have improvements within the 100 year floodplain:





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

If yes provide:

Purchase Date: Purchase Price:

If no:

Site Control

No

(a) Does the owner/principal or ownership entity have vaild option/contract to purchase the property? Yes

(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for

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

No

(c) Enter the current expiration date of the option/contract to purchase: 10/31/2003

(D) Enter Purchase Price: 225,000





Present zoning classification of the site:

Is mutifamily use permitted?

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

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

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

Is a public hearing of any kind required in the future for you to fully develop this property?

If yes, describe the nature of the hearing and when you expect the hearing will be held:

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

If yes, describe below:

Are there any existing conditions of environmental significance located on the project site?

If yes, describe below:

Zoning

RMF-RESIDENTIAL MULTIFAMILY

Yes

No

No

No

No





Ownership Entity

Owner Name: Clifton Park, LLC


City: State: NC Zip:Raleigh 27619

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

Federal Tax ID Number of Managing GP or Member: (If Not Assigned)56-2055367

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: Pendergrant Clifton Park, LLC

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


City: Raleigh State: NC Zip: 27619

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

EMail: fpendergraph@pendergraphprop Nonprofit: No TaxID 999-99-9999

Org: Pendergrant Clifton Park, LLC

First Name: Charles Last Name: Grant Function: Member


City: Raleigh State: NC Zip: 27619

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

EMail: [email protected] Nonprofit: No TaxID 999-99-9999





List each applicable unit mix combination in a separate row below. Click [Add] to create another row. Click "X" (at the left of each row) todelete a row.

Low Income Units

Market Rate Units

Statistics

Notes

Unit Mix

Type # BRs Net Sq.Ft.Total

# Units#Units

MonthlyRent

UtilityAllowance

MandatoryServ. Fees

**TotalHousing Exp.

Gdn Apt 2 945 5 1 200 92 292

Gdn Apt 2 945 11 3 349 92 441

Gdn Apt 3 1204 8 1 389 106 495

Gdn Apt 2 945 16 0 349 92 441

Gdn Apt 3 1204 8 0 389 106 495

Utilites included in rents: Water/Sewer Electric Gas Other

Type # BRs Net Sq.Ft.Total

# Units#Units

MonthlyRent

UtilityAllowance

MandatoryServ. Fees

**TotalHousing Exp.

Utilites included in rents: Water/Sewer Electric Gas Other

AllUnits

Units

Gross MonthlyRental Income

Low Income....... 48 5 16647

Market Rate.......

Totals............... 48 5 16647

* Paint-to-Paint Square Footage

** 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.





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

Total Low Income Units:

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

Targeting

# BRs Units %

2 16 targeted at 50 percent of median income.




48





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

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

Funding Sources

Source AmountNon-

Amortizing*Rate(%)

Term(Years)

Amort.Period(Years)

AnnualDebt

Service

Bank Loan

RPP LoanLocal Gov. Loan - Specify:

RD Loan

AHP Loan

Other Loan 1 - Specify:



Tax Exempt Bonds

State Tax Credit(Loan) 1,283,617 0 30 30 0

State Tax Credit(Direct Refund)

Equity: Federal LIHTC 2,378,373

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees

Owner Investment 265 Other - Specify:

Total Sources** 3,662,255

* "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.

77

No Permanent Debt on this project.





Development Costs

Item Cost Element TOTAL COSTEligible Basis

30% PV 70% PV

1 Purchase of Buildings (Rehab) 0

2 Demoli tion

3 On-site Improvements 356,000 356,000

4 Rehabilitation

5 Construction of New Building(s) 1,748,928 1,748,928

6 Accessory Building(s) 60,000 60,000

7 General Requirements 101,546 101,546

8 Contractor Overhead 45,300 45,300

9 Contractor Profit 136,000 136,000

10 Construction Contingency 73,500 73,500

11 Architect's Fee - Design 76,800 76,800

12 Architect's Fee - Inspection 18,000 18,000

SUBTOTAL (lines 1 through 12) 2,616,074

13 Construction Insurance (prorate) 2,300 2,300

14 Construction Loan Orig. Fee (prorate) 28,324 28,324

15 Construction Loan Interest (prorate) 92,591 92,591

16 Construction Loan Credit Enhancement (prorate) 5,500 5,500

17 Construction Period Taxes (prorate) 5,500 5,500

18 Water, Sewer and Impact Fees 28,350 28,350

19 Survey 9,000 9,000

20 Property Appraisal 6,500 6,500

21 Environmental Report 6,000 6,000

22 Market Study 4,000 4,000

23 Bond Costs (specify)

24 Cost of Issuance

25 Placement Fee

26 Permanent Loan Origination Fee

27 Permanent Loan Credit Enhancement

28 Title and Recording 1,661

SUBTOTAL (lines 13 through 28) 189,726

29 Real Estate Attorney 28,662 28,662

30 Other Attorney's Fees 6,500 6,500

31 Tax Credit App Fees 23,220 23,220

32 Cost Certification/Carryover 7,500 7,500

33 Tax Opinion

34 Organizational (Partnership)

35 Tax Credit Monitoring Fee 25,200


36 Furnishings and Equipment 15,000 15,000

37 Relocation Expenses

38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 406,304 406,304

39 Other Basis Expense (specify)

40 Other Basis Expense (specify)

41 Rent-up Expenses 27,000

42 Other Non-basis Expense (specify)

43 Other Non-basis Expense (specify)


44 Rent up Reserve 14,400





Comments:

45 Operating Reserve 77,669

46 Other Reserve (specify)

47 Other Reserve (specify)

48 DEVELOPMENT COST (lines 1-47) 3,437,255 0 3,291,325

49 Less Federal Financing 181,905

50 Less Disproportionate Standard

51 Less Nonqualified Nonrecourse Financing

52 Less Historic Tax Credit (residential) 0

53 TOTAL ELIGIBLE BASIS 3,109,420 0 3,109,420

54 Times Applicable Fraction 130.00% 130% 130%

55 TOTAL QUALIFIED BASIS 4,042,246 0 4,042,246

56 Tax Credit Rate 0.00% 7.87%

57 FEDERAL TAX CREDITS at Estimated Rate 318,124 0 318,124

57a FEDERAL TAX CREDITS at 8.5% or 3.75% 343,590 0 343,590

58 FEDERAL TAX CREDITS REQUESTED 0

59 STATE TAX CREDITS 1,007,922

60 Land Cost 225,000

61 TOTAL REPLACEMENT COST 3,662,255

Basis reduced because project over subsidized. State credit calculated on basis w/o reduction.





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):

Market Study Information

Clifton Park is a 48-unit family housing development that will be located on Cowell Farm Road inWashington. The plan calls for 32 two-bedroom units and 16 three-bedroom units contained in 6residential buildings.

All ground floor apartment units will be able to comply with ADA requirements. The exterior will be

brick veneer and high quality vinyl horizontal siding. The siding will have a larger exposure on thefirst floor and a smaller exposure siding on the second floor. A bandboard will divide the two at thesecond level floor system. The two siding exposures will have color variations between the lowerand upper floor. The truss roof system has a variety of large and small gables. This, along with thecombination of brick siding accent trim, and color variations will yield an aesthetically pleasingdevelopment.

This particular architectural style was chosen because we felt that a two-story design would blendwith the community and surrounding homes. We have developed this design on previousdevelopments. The Agency, Town Officials, lenders and our Equity Partners are very pleased withthe curb appeal.

The interior of the units will have carpet in the living room and bedrooms. Vinyl flooring will beutilized in the kitchens and baths. All interior doors will be of a six-panel design. The cabinetry will beof solid wood styles and fronts. All units will have washer/dryer hook-ups, dishwashers, patios, andexterior storage. HVAC will consist of energy efficient heat pumps with an eleven seer rating. Allexterior windows and doors, where applicable, will have energy efficient insulated glass.

The development will include a separate community room and office as well as walking trails and agazebo. The development will be extensively landscaped.

The site has all the conveniences of shopping, restaurants, banking, churches, schools, medicalfacilities, and employment. It is located in the eastside of Washington where the majority of the newgrowth such as shopping, medical offices, hotels, and residential areas are being located.

FRONT ENRTIES HAVE COVERED BREEZEWAYS. PATIO DOORS ARE FULL VIEW GLASSPROVIDING AN ABDUNANCE OF NATURAL LIGHTING INTO THE MAIN LIVING, DINING ANDKITCHEN AREA.

Morgans Ridge in wilson, NC.Hawthorne Court in Tarboro, NC.Laurel Pointe in Goldsboro, NC.

Community Bldg - Sq Ft: 1,167 Community Room - Sq Ft: 662 Garages - Number:

Laundry Rm Screened Porch Resident Computer Center Exam Rm Reading Rm/Library

Game/Craft Rm Exercise Rm TV Rm Beauty Salon Vending Rm

Chapel/Prayer Rm Picnic Area Onsite Leasing Office Onsite Mgr Onsite Maint. Person





Onsite Activities:

Landscaping Plans:

Interior Apartment Amenities (check all that apply):

Flooring: Carpet Vinyl Wood Wood Parquet Ceramic Tile Other

Heating/Cooling: Central Air Gas Heat Heat Pump Electric Pump

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

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

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

Although a service package is not required on a family development, we will have various on-siteactivities such as holiday events, social gatherings, newsletters and recreational activities.Additionally, there are many supportive services in the community within a mile or so of the site.Also, the community room would be available for Town/community activities.

The property will be extensively landscaped exceeding the required per unit cost. Sod and irrigationwill be installed in high visibility areas. The site amenities will be strategically located with bordersthroughout the property and will be handicap accessible. The site will have attractive signage,lighting and landscaping. Curb appeal is always a top priority with Pendergrant Development.

Range Hood Dishwasher Disposal Refrigerator (frost free) Storage interior/exterior

W/D Hookups Mini-blinds Pantry Ceiling fans Walk-in closets

No





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).

THE SITE IS IN A NEW DEVELOPMENT AREA ON THE EAST SIDE OF WASHINGTON. THEMAJORITY OF THE EXISTING BUILDINGS AND HOUSING ARE NEW CONSTRUCTION. THEPHYSICAL CONDITION OF BUILDINGS AND IMPROVEMENTS ARE NEW OR EXCELLENT.NEW ECONOMIC DEVELOPMENT IN TOWN IS AT THIS LOCATION.

Suitability of surrounding development. Land use pattern is primarily residential with a balance ofother uses, including non-competing multifamily and single family units, relevant amenities, shoppingand services.THE SITE IS SURROUNDED BY BEAUFORT COUNTY HOSPITAL, NEW MEDICAL FACILITIES,OFFICE PARKS, SINGLE FAMILY HOMES AND NON-COMPETING MULTIFAMILYDEVELOPMENTS. THERE IS A TRUE BALANCE OF PROPERTY USES IN THENEIGHBORHOOD. SHOPPING, RETAIL CENTERS AND DOWNTOWN WASHINGTON AREVERY CLOSE BY.

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).COWELL FARM ROAD WILL SERVICE THE PROPOSED DEVELOPMENT. IT IS ADEQUATE INSIZE AND HAS THE NECESSARY TRAFFIC CONTROLS TO ACCOMODATE THE PROPOSEDDEVELOPMENT. IT HAS CONNECTORS TO BROWN STREET AND HIGHLAND AVENUE.

Amount and character of vacant, undeveloped land. Effect of industrial, large-scale institutional orother incompatible uses: wastewater treatment facilities, high traffic corridors, junkyards, prisons,landfills, large swamps, distribution facilities, frequently used railroad tracks, power transmission linesand towers, factories or similar operations, sources of excessive noise, and sites with environmentalconcerns (such as odors or pollution).THE VACANT LAND TO THE EAST OF COWELL FARM ROAD IS BEING DEVELOPED INTOOUT PARCELS FOR ADDITIONAL MEDICAL, OFFICE AND SINGLE FAMILY HOUSING. THECITY OF WASHINGTON IS PLANNING TO CONNECT COWELL FARM ROAD TO AVONAVENUE WHICH LIES SOUTHEAST OF THE SITE AT THE INTERSECTION OF HIGHLANDAVENUE.

Degree of on-site negative features and physical barriers that will impede project construction oradversely affect future tenants; for example: power transmission lines and towers, flood hazards,steep slopes, large boulders, ravines, year-round streams, wetlands, and other similar features. Foradaptive re-use projects- suitability for residential use and difficulties posed by the building(s), suchas limited parking, environmental problems or the need for excessive demolition.There are no on-site negative features or physical barriers that would impede project construction oradversely affect future tenants.

Similarity of scale and aesthetics/architecture between project and surroundings.THE DEVELOPMENT WILL FIT NICELY WITH THE SURROUNDING AREA. MOST OF THE





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

Other facilities or services:

IMPROVEMENTS AND BUILDINGS IN THE AREA ARE BRAND NEW.

Concentration of affordable housing (housing credit, project-based rental assistance, public housing).THERE ARE ONLY TWO SMALL NON-COMPETING AFFORDABLE DEVELOPMENTS WITHIN

THE AREA.

Availability of Supportive Services (if applicable):Although a service package is not required on a family development, we will have various on-siteactivities such as holiday events, social gatherings, newsletters and recreational activities.Additionally, there are many supportive services in the community within a mile or so of the site.Also, the community room would be available for Town/community activities.

Grocery Store0.2 Community/Senior Center0.1

Mall/Strip Center0.2 Hospital0.1

Outdoor Athletic Fields1.3 Pharmacy0.3

Day Care/After School0.1 Basic Health Care0.1

Schools0.2 Medical Offices0.1

Public Transportation Stop0.1 Bank/Credit Union0.3

Convenience Store0.2 Restaurants0.2

Basketball/Tennis Courts1.3 Professional Services0.1

Public Parks1.3 Movie Theater1.3

Gas Station0.2 Video Rental1

Library1.1 Public Safety (Fire/Police)0.9

Fitness/Nature Trails1.3 Post Office0.9

Public Swimming Pools0.9

WASHINGTON IS LOCATED ADJACENT TO THE PAMLICO RIVER/SOUND. THERE ARESEVERAL RECREATIONAL ACTIVITES SUCH AS FISHING, GOLFING, BOATING, SWIMMINGAND VACATIONING ON THE BEACH.





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?

Project Team Experience

North Carolina Other States

Projects: 10 2

Units: 474 104

North Carolina Other States

Projects: 17 5

Units: 812 256

No

No

No

No

No





Financing Commitments

Does the project have a firm commitment for construction financing? Yes

Does the project have a letter of intent for private permenant financing? No

Does the project have a firm commitment for government financing? No

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

If yes, indicate the type and amount below:

Tax Exempt Financing: $

RD 515 Financing: $

Hope VI Financing: $

Other: $

If Other, specify the type of Federal subsidy:





Project Operations (Year One)

Projected Operating Costs

Administrative Expenses

Advertising 2,000

Other Administrative Expense (specify):

Office Salaries 13,520Office Supplies 1,200

Office or Model Apartment Rent

Management Fee 17,055

Manager or Superintendent Salaries

Manager or Superintendent Rent Free Unit

Legal Expenses (Project) 500

Auditing Expenses (Project) 3,000

Bookkeeping Fees/Accounting Services

Telephone and Answering Service 900

Bad Debts

Other Administrative Expenses (specify):

SUBTOTAL 38,175

Utilities Expense

Fuel Oil

Electricity (Light and Misc. Power) 4,500

Water 7,376

Gas 7,376

Sewer

SUBTOTAL 19,252

Operating and Maintenance Expenses

Janitor and Cleaning Payroll

Janitor and Cleaning Supplies

Janitor and Cleaning Contract 600

Exterminating Payroll/Contract 1,152

Exterminating Supplies

Garbage and Trash Removal 6,336

Security Payroll/Contract

Grounds Payroll

Grounds Supplies

Grounds Contract 9,000

Repairs Payroll 19,500

Repairs Material 1,000

Repairs Contract 1,000

Elevator Maintenance/Contract

Heating/Cooling Repairs and Maintenance 1,000

Swimming Pool Maintenance/Contract

Snow Removal

Decorating Payroll/Contract 3,250

Decorating Supplies

Other (specify):

Miscellaneous Operating & Maintenance Expenses

SUBTOTAL 42,838

Taxes and Insurance

Real Estate Taxes 29,115





Payroll Taxes (FICA) 3,180

Miscellaneous Taxes, Licenses and Permits 100

Property and Liability Insurance (Hazard) 6,320

Fidelity Bond Insurance 70

Workmen's Compensation 687

Health Insurance and Other Employee Benefits

Other Insurance:

SUBTOTAL 39,472

Supportive Service Expenses

Service Coordinator 3,000

Service Supplies 600

Tenant Association Funds

Other Expenses (specify):

SUBTOTAL 3,600

Reserves

Replacement Reserves 12,000

SUBTOTAL 12,000

TOTAL OPERATING EXPENSES 155,337

ADJUSTED TOTAL OPERATING EXPENSES (Does not include taxes, reserves and resident support services) *

110,622

TOTAL UNITS(from total units in the Unit Mix section)

48

PER UNIT PER YEAR 2,304





Design Features

ITEM DESCRIPTION

Foundation/Slab Components MASONARY FOUNDATION/CONCRETE SLAB

Primary Windows Make: Model:SIMOTON/EQUAL PROFINISH Type/Construction: VINYL WITH INSULATED GLASS

Exterior Doors Type: Frames:METAL SIX PANEL WOOD

Siding Type: Grade/Thickness:VINYL .042MIL

Warranty: LIMITED LIFETIME

Exterior Trim VINYL AND METAL WRAP ON FACIA

Shingles Type: Weight:FIBERGLASS 226-231+

Warranty: 25 YEAR

Sprinkler System N/A

Cabinets MERILAT/EQUAL

Heat Pump SEER: Make:11 GOODMAN

Model:

Air Conditioner SEER: Make:N/A

Model:

Other Heat Systems SEER: Make:N/A

Model:





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.

Costs - Construction

ITEM LABOR MATERIAL TOTAL

Concrete Footings 28,540 14,059 42,599

Backfill-slab, Crawl 31,500 21,000 52,500

Slab-concrete/Rebar/Gravel 15,000 22,500 37,500

Waterproofing 3,780 2,520 6,300

Masonry Foundation 17,850 33,150 51,000

Brick Veneer 29,036 80,264 109,300

Steel/Structure/Rails 0 0 0

Framing/Lumber/Nails 82,500 122,500 205,000

Trusses 0 101,000 101,000

Crane Rental 9,000 0 9,000

Windows/Grilles/Screen 0 27,750 27,750Exterior Doors 0 42,000 42,000

Roofing 14,064 29,886 43,950

Fencing 0 0 0

Vinyl Siding/Trim/Box 39,390 59,085 98,475

Gutters/Shutters 10,504 10,504 21,008

Insulation 13,860 35,640 49,500

Drywall 54,630 66,770 121,400

Interior Doors 0 44,750 44,750

Int. & Final/Stair/Trim/Shelves 21,240 23,010 44,250

Cabinets & Tops 9,600 38,400 48,000

Painting 34,650 14,850 49,500

Marble - Tub/Shwr/Tops 0 0 0

Plumbing 46,775 46,775 93,550

Electrical 41,750 41,750 83,500

Heating/Air Conditioning 48,000 48,000 96,000

Floor Covering and Underlayment 16,785 39,165 55,950

Wall Paper 0 0 0

Mailboxes/Special Features/Signage 305 2,751 3,056

Gypcrete 15,450 36,050 51,500

Blinds/Shades/Art Work 7,200 10,800 18,000

Light Fixtures/Fans 0 27,750 27,750

Sprinkler System 0 0 0

Security Alarm 0 0 0

Hardwood Floors 0 0 0

Elevator 0 0 0

Ceramic Tiles 0 0 0

Acoustical Ceilings 0 0 0





Remarks:

Mirror/Shower Door/Encls. 3,375 3,375 6,750

Hardware/Bath Access. 5,100 7,650 12,750

Appliances 0 40,500 40,500

Playground Equipment 5,000 10,000 15,000

Interior Clean 18,351 2,039 20,390

Exterior Clean/Dumpster 11,670 7,780 19,450

Other 1 (specify in Remarks) 0 0 0

Other 2 (specify in Remarks) 0 0 0

Total Cost 634,905 1,114,023 1,748,928





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.

Remarks:

Costs - General

ITEM TOTAL

Supervision 25,200

Job Site Office/Trailer Rental 2,000

Impact Fees

Office Supplies 2,000

Security/Watchman 0

Water and Sewer Connection Fees

Project Signage 9,000

Tools and Equipment 5,850

Gas, Oil, and Maintenance 3,350

Cleanup/Dumpster Rental 17,560

Temporary Water, Electric, and Telephone 0Storage/Hauling 3,500

Driveway Access Permit 0

Porta-John Rental/Dumping 1,850

Builders Risk Insurance 0

Re-inspection Fees 456

Extra Plans and Specifications 1,600

Miscellaneous, Casual Labor 9,350

Equipment Rental 4,500

Other 1 (specify in Remarks) 15,330

Other 2 (specify in Remarks) 0

Total Cost 101,546

OTHER 1= BUILDING PERMITS





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.

Remarks:

Costs - Improvements

ITEM TOTAL

Subsurface Exploration/Perk Testing/Site Engineering 24,000

Clearing/Grading/Final Grading/Excess and Borrow 39,500

Demolition 0

Earthwork/Excavation/Aerating 23,400

Soil Treatment 2,500

Pile Foundations 0

Caissons 0

Shoring/Bracing 7,500

Site Drainage 25,500

Site Utilities/Site Lighting 65,500

Paving and Surfacing/Curb and Gutter 49,500Walkways 30,500

Site Signage 8,500

Parking Lot Painting 7,400

Dumpsite Pads/Fencing 7,500

Fencing/Gates 0

Landscaping/Topsoil 38,000

Waterproofing/De-Watering 0

Operation of Construction Equipment/Fuel/Oil 2,500

Crane Rental 0

Rock and Hardpan Excavation 2,900

Site Supervision Personnel 21,300

Other (specify in Remarks) 0

Total Cost 356,000





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.

Remarks:

Costs - Bond Costs

ITEM TOTAL

Letter of Credit Fee 0

Credit Enhancement 0

Underwriter Discount 0

Capital Interest Fund 0



Total Cost 0





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 0

Issuer Counsel 0

Credit Enhancement/LOC Counsel 0

Underwriter Counsel 0

Developer's Counsel 0

Rating Agency Fee 0

Printing 0

Trustee Fee 0

Trustee Counsel 0


Other 2 (specify in Remarks) 0Other 3 (specify in Remarks) 0

Total Cost 0

0





MINIMUM REQUIRED SET ASIDES (No Points Awarded):

Minimum Set-Asides

Select one of the following two options:

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.

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 fortypercent (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 county

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

Low Income County:

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

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

Tax Exempt Bonds

Threshold requirement (select one):

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

(50%) of county median income.

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

Eligible for 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 Permitted zoning letter (including conditional and special use)

I Site plan, floor plans and elevations

J Hazard and structural inspection and termite reports (Renovation projects only)

K Description of any existing conditions of historical significance.

L Description of environmental significance.

M Anticipated budget demonstrating how the project would meet the 10% test by November 14th.

N Evidence of Architect's Errors and Omissions insurance (or equivalent).

O Description of acquisition for existing/occupied projects or for projects with occupied buildings to be demolished.

P Description of proposed Relocation Plan & Relocation Budget, Etc. If any relocation is anticipated, reference Appendix F.

Q Targeting Plan and supporting documentation (Required for projects targeted to Special Populations)

R Local Housing Authority Agreement (Reference Model in Appendix I)

S Appraisal (for land costs greater than $5,000 and for buildings in rehab projects)

T Evidence of Permanent Loan Commitment, other sources of funds, and project-based subsidies.

U Statement regarding terms of Deferred Developer Fee and, if nonprofit, resolution of Board approving fee.

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

W Documentation to support estimated utility costs.


clifton park

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