nathaniel village

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Is project in Qualified Census Tract or Difficult to Develop Area? New Construction/Adaptive Reuse: 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 meet Energy Star standards as defined in Appendix B? Does a community revitalization plan exist? Target Population: Family Will the project be receiving project based federal rental assistance? If yes, provide the subsidy source: If yes, provide the subsidy source:  and number of units: and number of units:  Indicate below any additional targeting for special populations proposed for this project: Print Preview - Full Application  Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans Project Description Proje ct Name: Nath aniel Villa ge Add re ss : 41 5 Mart in Lu the r Kin g J r. Dri ve City: Greenville County: Pitt Zip: 27858 Census Tract: 1.00 Block Group: 3 Yes Poli ti cal Jurisdicti on: Ci ty of Gr eenv il le Jurisdiction CEO Name: First: Last: Wayne Bowers Title: City Manager Ju risdic ti on Ad dress: P.O. Box 7207 Jurisdiction City: Greenville Zip: 27835-7207 Jurisdiction Ph one: (252)329-4436  Site Latitude: 35.6116 Site Longitude: -77.3763 Project Type: New Construc tion No Rehab: Is this project a previously awarded tax credit development? If yes, what year were credits awarded?: Number of residents holding Section 8 vouchers: No Yes Will the project use steel and concrete construction and have at least 4 stories? No Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77? No If yes, please describe: No Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal and state codes.)

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Page 1: Nathaniel Village

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Is project in Qualified Census Tract or Difficult to Develop Area?

New Construction/Adaptive Reuse: 

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 meet Energy Star standards as defined in Appendix B?

Does a community revitalization plan exist?

Target Population: Family

Will the project be receiving project based federal rental assistance?

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

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

Print Preview - Full Application  

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

Project Description

Project Name: Nathaniel Village

Address: 415 Martin Luther King Jr. Drive

City: Greenville County: Pitt Zip: 27858

Census Tract: 1.00 Block Group: 3

Yes

Political Jurisdiction: City of Greenville

Jurisdiction CEO Name: First: Last:Wayne Bowers Title: City ManagerJurisdiction Address: P.O. Box 7207

Jurisdiction City: Greenville Zip: 27835-7207

Jurisdiction Phone: (252)329-4436

 

Site Latitude: 35.6116

Site Longitude: -77.3763

Project Type: New Construction

No

Rehab:

Is this project a previously awarded tax credit development?

If yes, what year were credits awarded?:

Number of residents holding Section 8 vouchers:

No

Yes

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

Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77? No

If yes, please describe:

No

Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal andstate codes.)

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Number of Units: 3

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

Number of Units: 5

Remarks:

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Indicate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. UnderQAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicantmust become part of the ownership entity. The applicant will execute the signature page for this application.

Applicant Information

Applicant Name: Landmark Asset Services, Inc.

Address: 406 East Fourth Street

City: State: NC Zip:Winston-Salem 27101

Contact: First: Last: Title:Bill Scantland VP & Managing Member

Telephone: (336)714-8920

Alt Phone: (336)722-9871

Fax: (336)722-3603

Email Address: [email protected]

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

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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 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:

(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:

Site Description

3.3 3.3

No

No

Yes

No

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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 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 for

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

Yes

IOI does not exist. Using this box for clarification. This is a $1/yr land lease from the City ofGreenville. There is a parcel being purchased (submitted in Pre-app) by Landmark Asset Services,Inc. outside of the development cost in order to preserve the 5 point scoring bonus for which allother parameters have been met. Expiration date below is for the parcel purchase and the purchaseprice of $1 below is the lease amount/year.

(c) Enter the current expiration date of the option/contract to purchase: 09/01/2007

(D) Enter Purchase Price: 1

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Present zoning classification of the site:

Is multifamily 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:

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

CDF

Yes

No

No

No

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 Ownership Entity

Owner Name: Nathaniel Village, LLC

Address: 406 East Fourth Street

City: State: NC Zip:Winston-Salem 27101

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

Note: Do not submit social security numbers for individuals.

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: Landmark Asset Services, Inc.

First Name: Bill Last Name: Scantland Function: Managing Member

Address: 406 East Fourth Street

City: Winston-Salem State: NC Zip: 27101

Phone: (336)714-8920 Fax: (336)722-3603

EMail: devadmin@landmarkdevelopmen Nonprofit: No

Org: Sari and Company

First Name: Jim Last Name: Sari Function: Member

Address: 406 East Fourth Street

City: Winston-Salem State: NC Zip: 27101

Phone: (336)714-8911 Fax: (336)722-3603

EMail: [email protected] Nonprofit: No

Org: Fitch Development Group, Inc.

First Name: Hollis Last Name: Fitch Function: Member

Address: 426 East Fourth Street

City: Winston-Salem State: NC Zip: 27101

Phone: (336)714-8929 Fax: (336)722-3603

EMail: [email protected] Nonprofit: No

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Square Footage Information

Notes 

Gross Floor Square Footage: 54,406

Total Net Sq. Ft. (All Heated Areas): 50,139

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

income units are within established thresholds.

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Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] tocreate another 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 %

1 2 targeted at 40 percent of median income affordable to/occupied by

1 2 targeted at 50 percent of median income affordable to/occupied by

1 4 targeted at 60 percent of median income affordable to/occupied by

2 6 targeted at 40 percent of median income affordable to/occupied by

2 6 targeted at 50 percent of median income affordable to/occupied by

2 12 targeted at 60 percent of median income affordable to/occupied by

3 4 targeted at 40 percent of median income affordable to/occupied by

3 4 targeted at 50 percent of median income affordable to/occupied by

3 8 targeted at 60 percent of median income affordable to/occupied by

48

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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 217,356 7.75 20 20 21,412

RPP Loan

Local Gov. Loan - Specify:City of Greenville

525,000 2.00 20 20 31,870

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) 1,320,789 0 30 30 0

State Tax Credit(Direct Refund)

Equity: Federal LIHTC 3,455,654  

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees

Owner Investment

Other - Specify:

Total Sources** 5,518,799  

* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debtservice below.

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

90

Local government housing development funds - City of Greenville

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 Development 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) 100,000 100,000

3 On-site Improvements 600,000 600,0004 Rehabilitation

5 Construction of New Building(s) 2,754,458 2,754,458

6 Accessory Building(s)

7 General Requirements 202,300 202,300

8 Contractor Overhead 71,400 71,400

9 Contractor Profit 214,400 214,400

10 Construction Contingency 115,800 115,800

11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 100,000 100,000

12 Architect's Fee - Inspection 20,000 20,000

13 Engineering Costs 27,500 27,500

SUBTOTAL (lines 1 through 13) 4,205,858

14 Construction Insurance (prorate) 35,000 35,00015 Construction Loan Orig. Fee (prorate) 70,000 70,000

16 Construction Loan Interest (prorate) 250,000 160,000

17 Construction Loan Credit Enhancement (prorate) 30,000 30,000

18 Construction Period Taxes (prorate) 15,000 15,000

19 Water, Sewer and Impact Fees 17,900 17,900

20 Survey 12,000 12,000

21 Property Appraisal 8,000 8,000

22 Environmental Report 4,000 4,000

23 Market Study 4,200 4,200

24 Bond Costs

25 Bond Issuance Costs

26 Placement Fee27 Permanent Loan Origination Fee

28 Permanent Loan Credit Enhancement

29 Title and Recording 15,000

SUBTOTAL (lines 14 through 29) 461,100

30 Real Estate Attorney 30,000 30,000

31 Other Attorney's Fees 6,000 6,000

32 Tax Credit Application Fees (Preliminary and Full) 2,200

33 Tax Credit Allocation Fee (0.58% of line 59, minimum $7,500) 38,303

34 Cost Certification / Accounting Fees 8,000 8,000

35 Tax Opinion 6,000

36 Organizational (Partnership) 7,000

37 Tax Credit Monitoring Fee 26,400SUBTOTAL (lines 30 through 37) 123,903

38 Furnishings and Equipment 75,000 75,000

39 Relocation Expense

40 Developer's Fee 504,000 504,000

41 Other Basis Expense (specify)

42 Other Basis Expense (specify)

43 Rent-up Expense 21,466

44 Other Non-basis Expense (specify)

45 Other Non-basis Expense (specify)

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Comments:

SUBTOTAL (lines 38 through 45) 600,466

46 Rent up Reserve 24,000

47 Operating Reserve 103,472

48 Other Reserve (specify)

49 Other Reserve (specify)

50 DEVELOPMENT COST (lines 1-49) 5,518,799 0 5,184,958

51 Less Federal Financing52 Less Disproportionate Standard

53 Less Nonqualified Nonrecourse Financing

54 Less Historic Tax Credit (residential) 0

55 TOTAL ELIGIBLE BASIS 5,184,958 0 5,184,958

56 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%

57 Basis Before Boost 5,184,958 0 5,184,958

58 Boost for QCT/DDA (if applicable, enter 130%) 130.00% 130.00%

59 TOTAL QUALIFIED BASIS 6,740,445 0 6,740,445

60 Tax Credit Rate 3.45 8.05

61 Federal Tax Credits at Estimated Rate 542,605 0 542,605

62 Federal Tax Credits at 8.5% or 3.75% 572,937 0 572,937

63 Max Federal Tax Credits (With Energy Star - Lesser of $8,500 per unit or$800,000, w/o - Lesser of $8,000 per unit or $800,000) 384,000

64 Federal Tax Credits Requested 384,000 384,000

65 Land Cost 0

66 TOTAL REPLACEMENT COST 5,518,799

FEDERAL TAX CREDITS IF AWARDED 384,000

Replacement costs exceed $95,000 per unit maximum as defined in the 2007 QAP IV.C.1.(a).However, the property is within a central business district as defined in Section (iii) of the referencedQAP.

Total Replacement Cost per unit:  111,946

Federal Tax Credits (line 62) per unit:  11,936

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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:

Onsite Activities:

Landscaping Plans:

Interior Apartment Amenities:

Market Study Information

Nathaniel Village is an urban infill redevelopment effort of the City of Greenville and the GreenvilleRedevelopment Commission on 3.3 acres in the central business district of Greenville. Under acompetitive RFQ with design guidelines, “Nathaniel Village” is new construction and will feature six(6) “big houses” of eight (8) family units each. Each building will be two stories in height to blend wellwith the existing neighborhood. Over 25% will be three bedroom.

Yes

Not in North Carolina. However, though adapted for Nathaniel Village, Humphreys & PartnerArchitects developed the “Big House” concept and has built it in over 200 communities. Itsaffordable products include the Hillcrest & McCallum 4-unit building resembling a single family homeas public housing in north Dallas, Texas, and the 6-unit Lakewest Townhomes for the DallasHousing Authority. The Waterford developments in York and Swatara Township are three separatetax credit developments in Pennsylvania. The “E-House” style for the Waco Housing Authority inWaco, Texas produced 15 units per acre, roughly that proposed for Nathaniel Village in Greenville.Contact Scott Mitchell at Humphreys and Partners Architects, L.P. at 704 510-1357 x11 for details.

Consistent with Appendix B, Nathaniel Village will have an equipped playground, a residentcomputer center (min. 2 computers), a covered picnic area (150 sf w/ 2 tables and grill) and anoutdoor sitting area with benches (min. of 3 locations). The two optional amenities are the exerciseroom with equipment in the separate Community Building and high-speed Internet access in theliving area of each unit and support for a project-wide network or functional equivalent.

Onsite activities will eminate from the centrally located Community Building. The computer andexercise room, the kitchenette and meeting space and the coin-operated laundry will support theactivities of everyday life at Nathaniel Village. The equipped playground and lawn, plus the sittingbenches in three locations will provide active as well as passive recreational opportunites forresidents.

Site work and landscaping will be installed according to NCHFA standards in Appendix B.III.E. andCity of Greenville ordinances. As shown on the Site Concept Map, a screening fence with landscapebuffer will be provided along the western property line as per City of Greenville request to providesecurity and privacy for the Women’s Shelter adjacent west on MLK Drive. Plant material will benative to the climate and area, and trees and shrubs will be of adequate sizes.

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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.

A major asset at Nathaniel Village will be large apartment sizs. Other amenities will be consistentwith Appendix B design standards for units, bedrooms, and kitchens.

No

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Briefly describe your site in each of the following categories:

Applicant's Site Evaluation

NEIGHBORHOOD CHARACTERISTICS

Trend and direction of real estate development and area economic health. Physical condition ofbuildings and improvements. Concentration of affordable housing.The trend and direction of real estate development and area economic health is positive. Greenvilleis growing and has the planning and redevelopment social and political leadership to direct it. EastCarolina University is nearby Nathaniel Village with private land holdings and plans for expansionthat will bode well for this development. The physical condition of buildings and improvements thatwill front Nathaniel Village on MLK Drive, all east of the CSX railroad track from which this site isremoved and buffetted by the tracks being at a much lower elevation than the project site, are good.Any concentration of affordable housing is found west of the aforementioned railroad track, fartherfrom the central city.

SURROUNDING LAND USES AND AMENITIES

Suitability of surrounding development. Land use pattern is residential in character (single andmultifamily housing) with a balance of other uses (particularly retail and amenities). Effect ofindustrial, large-scale institutional or other incompatible uses, including but not limited to: wastewatertreatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distributionfacilities, frequently used railroad tracks, power transmission lines and towers, factories or similar

operations, sources of excessive noise, and sites with environmental concerns (such as odors orpollution). Amount and character of vacant, undeveloped land.Suitability of surrounding development is good for the proposed development and vice versa. Theland use pattern is predominantly residential in the west and north, with a balance of other uses(retail and amenities) on the east. Redevelopment plans by the City of Greenville call for residentialand mixed use to the south. The existing land use pattern is bolstered by like zoning (CDF) to thenorth and south of the site, with high density residential (R6) to the west and CD (CommercialDistrict (downtown)) to the east. Several acres of vacant land lie south of the site across Bonner’sLane, with the vacant historic Imperial Warehouse to the southwest. There are no adverse land useimpacts affecting this site.

SITE SUITABILITY

Adequate traffic controls (stop lights, speed limits, turn lanes, etc.). Burden on public facilities(particularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location ofproject sign(s) in relation to traffic corridors.Martin Luther King, Jr. Dr. is a major connector from Memorial Drive (on the west) to the central

business district (of which this development is a part) in downtown Greenville. Stop lights, speedlimits, and other urban traffic controls are in place and operating properly. Access to the bus systemin Greenville is available along MLK Drive. Four (4) of the big houses of Nathaniel Village will fronton MLK Drive as will the main entrance and its sign. They will be visible from this highly traveledcorridor.

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 will impede project construction oradversely affect future tenants. None of the hazards listed in this section of the application apply tothis gently rolling site that will be perfect for the proposed development.

Similarity of scale and aesthetics/architecture between project and surroundings.The “Big House” architectural design chosen for this development is the product of an RFQ by theCity Redevelopment Commission to ensure compatibility of scale and aesthetics/architecturebetween the project and surroundings. Two story height, bungalow detailing, building spacing, openspace and site amenities will all contribute to a high compatibility rating in this neighborhood.

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

Other facilities or services:

Grocery Store.64 Community/Senior Center.43

Mall/Strip Center.77 Hospital1.1

Outdoor Athletic Fields.67 Pharmacy.85

Day Care/After School.1 Basic Health Care1.25

Schools.43 Medical Offices.6

Public Transportation Stop.01 Bank/Credit Union.2

Convenience Store.36 Restaurants.28

Basketball/Tennis Courts.67 Professional Services.2

Public Parks.35 Movie Theater2.5

Gas Station.27 Video Rental.71

Library.22 Public Safety (Fire/Police).13

Fitness/Nature Trails.35 Post Office.28

Public Swimming Pools.99

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Project Operations (Year One) 

Projected Operating Costs

Administrative Expenses

Advertising 1,000

Office Salaries

Office Supplies 2,400

Office or Model Apartment Rent

Management Fee 23,040

Manager or Superintendent Salaries 16,380

Manager or Superintendent Rent Free Unit

Legal Expenses (Project) 200

Auditing Expenses (Project) 3,600

Bookkeeping Fees/Accounting Services 3,600

Telephone and Answering Service 3,600

Bad Debts 2,402

Other Administrative Expenses (specify):

SUBTOTAL 56,222

Utilities Expense

Fuel Oil

Electricity (Light and Misc. Power) 12,000

Water 7,246

Gas

Sewer 12,338

SUBTOTAL 31,584

Operating and Maintenance Expenses

Janitor and Cleaning Payroll 5,460

Janitor and Cleaning Supplies 600

Janitor and Cleaning Contract

Exterminating Payroll/Contract 1,152

Exterminating SuppliesGarbage and Trash Removal 4,800

Security Payroll/Contract

Grounds Payroll

Grounds Supplies 1,500

Grounds Contract 3,600

Repairs Payroll 14,820

Repairs Material 4,200

Repairs Contract 6,228

Elevator Maintenance/Contract

Heating/Cooling Repairs and Maintenance 980

Swimming Pool Maintenance/Contract

Snow RemovalDecorating Payroll/Contract 4,500

Decorating Supplies 1,100

Other (specify):

Fire Alarm/Sprinkler Maintenance1,000

Miscellaneous Operating & Maintenance Expenses

SUBTOTAL 49,940

Taxes and Insurance

Real Estate Taxes

Payroll Taxes (FICA) 4,198

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Miscellaneous Taxes, Licenses and Permits

Property and Liability Insurance (Hazard) 10,543

Fidelity Bond Insurance 50

Workmen's Compensation 1,123

Health Insurance and Other Employee Benefits

Other Insurance:

SUBTOTAL 15,914Supportive Service Expenses

Service Coordinator

Service Supplies

Tenant Association Funds

Other Expenses (specify):

SUBTOTAL 0

Reserves

Replacement Reserves 12,000

SUBTOTAL 12,000

TOTAL OPERATING EXPENSES 165,660

ADJUSTED TOTAL OPERATING EXPENSES (Does not include taxes, reserves and resident support services) * 153,660

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

48

PER UNIT PER YEAR 3,201

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MINIMUM REQUIRED SET ASIDES (No Points Awarded): 

Minimum Set-Asides

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: NoTax Credit 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: NoTax Credit 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 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 countymedian 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.

 

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 targeting points (select one):

At least twenty percent (20%) of qualified units will be affordable to and occupied by households with incomes at or below fiftypercent (50%) of county median income.

At least ten percent(10%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent(40%) of county median income.

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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 (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 Letters from State Housing Agencies or designated monitoring agent verifying out of state experience

G Completed IRS Form 8821 (Appendix I)

H 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)

I Local Government Letter Confirming Zoning including any pending notices or hearings (original on letterhead, no fax orphotocopies)

J Letters from Local Utility Providers regarding availability and capacity (original on letterhead, no fax or photocopies)

K Documentation from utility company or local PHA to support estimated utility costs

L Appraisal (required for land costs greater than $15,000 and for all Adaptive Re-use and Rehab projects)

M Site plan, floor plans and elevations for all projects. Scope of work for Adaptive Re-use and Rehab projects. (Full Size, 24 x36 inches)

N Hazard and structural inspection and termite reports (Adaptive Re-use and Rehab projects only)

O Copy of certificate of occupancy or proof of placed-in-service date (Rehabs Only)

P Proposed Relocation Plan including relocation budget and copies of notices. Required for all Rehabs and any projectsinvolving existing occupants of any dwellings to be rehabbed or demolished.

Q 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 lenderswith reserve balances, 3) letter from lender that outlines assumption requirements.

R 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.

S Statement regarding terms of Deferred Developer Fee. If a nonprofit is involved, a resolution from their board approvingdeferral of fee is required.

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