river's edge app

8/6/2019 River's Edge App

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

roject Description

oject Name: River's Edge at Elizabeth Crossing

dress: HWY 17

ty: Elizabeth City County: Pasquotank Zip:

ensus Tract: 9606 Block Group: Block Group 2

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

olitical Jurisdiction: City of Elizabeth City

risdiction CEO Name:First:Charles Last:Foster

Title: Mayor

risdiction Address: 306 E. Colonial Ave.

risdiction City: Elizabeth City Zip:

risdiction Phone:

e Latitude:

e Longitude:

oject Type: New Construction

this project a previously awarded tax credit development? No

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

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

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

ehab:

umber of residents holding Section 8uchers:

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

es a community revitalization plan exist? No

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

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

ttps://www.nchfa.org/Rental/RTCApp/(S(ppyv3njuk...6F3D20598F&SNID=7F67E7A7AFFF408A92B279AD53B84285 (1 of 30)9/16/2008 3:22:53 PM

27909

27907-0347

(252)338-3981

36.1727

-76.1516


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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: We are targeting 10% of the units for persons with disabilities as required by the 2008 QAP, Section IV(F)(4).We are targeting 5% or 3 of the units for ADA and 5% or 3 of the units to comply with QAP Section IV(F)(3)for mobility impaired.


6

6


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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: Douglas NC, LLC

dress: PO Box 160 / 709 N. Main Street

ty: Aynor State: SC Zip:

ontact: First: David Last:Douglas Title:Managing Member

lephone:

Phone:

x:

mail Address:

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


29511

(919)741-9328

(843)358-1052

(919)662-0124

[email protected]


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te Description

al Site Acreage: Total Buildable Acreage:

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

.6 non-buildable due to building setbacks and buffers.

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

Storm Sewer Water Sanitary Sewer Electric

he demolition of any buildings required or planned? No

If yes, please describe:

e existing buildings on the site currently occupied? No

If yes:(a) Briefly describe the situation:

(b) Will tenant displacement be temporary?(c) Will tenant displacement be permanent?

he site directly accessed by an existing, paved, publicly maintained road? Yes

If no, please explain:

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

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


6.7 6.1


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



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te Control

es the owner have fee simple ownership of the property (site/buildings)?No

If yes provide:

Purchase Date: Purchase Price:

If no:(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?Yes

(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract fopurchase of the property and the seller of the property?NoIf yes, specify the relationship:

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

(D) Enter Purchase Price:


8/30/2008

740,000


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oning

esent zoning classification of the site:HB (Highway Business)

multifamily use permitted?Yes

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

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

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

them:Property was annexed and entire tract was rezoned and annexed as HB to allow for multifamily at 12 unitsper acre by the city council on April 23rd, 2007. A public hearing was held on April 9th, 2007.

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: Rivers Edge, LLC

dress: PO Box 160 / 709 N. Main Street

y: Aynor State:SC Zip:

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

ote: Do not submit social security numbers for individuals.

tity Type: Limited Liability Company

tity Status: 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: Rivers Edge Managing Member, LLC

st Name: David Last Name: Douglas Function: Managing Memberddress: PO Box 160 / 709 N. Main Street

ty: Aynor State: SC Zip: 29511

one: Fax:

Mail: Nonprofit: No

Org: Douglas NC, LLC

st Name: David Last Name: Douglas Function: Principal

ddress: PO Box 160 / 709 N. Main Street


one: Fax:

Mail: Nonprofit: No

Org: Halcon Development, LLC

st Name: Traci Last Name: Dusenbury Function: Principal

ddress: 1403-305 Pitching Wedge Drive

ty: Raleigh State: NC Zip: 27603

one: Fax:

Mail: Nonprofit: No

Org: Hart Development, LLC

st Name: Doug Last Name: Hart Function: Principal

ddress: PO Box 160 / 709 N. Main Street


one: Fax:


29511

26-0845430

(843)358-1052 (843)358-1069

[email protected]

(843)358-1052 (843)358-1069

[email protected]

(919)662-0122 (919)662-0124

[email protected]

(843)358-1052 (843)358-1069


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Mail: Nonprofit: No

Org: DuPree Development, LLC

st Name: Frank Last Name: Dupree Function: Principal

dress: 201 E McBee 300B

ty: Greenville State: SC Zip: 29601

one: Fax:

Mail: Nonprofit: No


[email protected]

(864)404-3500 (864)404-3502

[email protected]


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t ili ties included in rents: Water/Sewer Electric Gas Other

atistics

AllUnits

Units

Gross MonthlyRental Income

Low Income.......

Market Rate.......

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

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

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

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

Elevators - Number of Elevators:

uare Footage Information

oss Floor Square Footage:

tal Net Sq. Ft. (All Heated Areas):

tes

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

units are within established thresholds.

ttps://www.nchfa.org/Rental/RTCApp/(S(ppyv3nju...F3D20598F&SNID=7F67E7A7AFFF408A92B279AD53B84285 (11 of 30)9/16/2008 3:22:53 PM

56 6 23339

56 6 23339

4 2

1,742

74,783

64,438
http://www.nchfa.com/lib/html/rental/Median%20Income%20Charts/income_limits.htmhttp://www.nchfa.com/lib/html/rental/Median%20Income%20Charts/income_limits.htm


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argeting

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

BRs Units %

targeted at percent of median income affordable to/occupied by






tal Low Income Units:

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


3 50

5 60

13 50

11 60

13 50

11 60

56


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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:CDBG-HD

RD 515 Loan

RD 538 Loan - Specify:

AHP Loan

Other Loan 1 - Specify:



Tax Exempt Bonds

State Tax Credit(Loan)

State Tax Credit(Direct Refund)

Equity: Federal LIHTC

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees

Owner Investment

Other - Specify:

Total Sources**

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

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

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

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

on-Repayable Grant-FHLBA AHP Direct Subsidy--BB&T--Awarded. Award letter attached.


108,000 2.00 20 20 6,556

1,539,576 0 30 30 0

5,177,674

229,600

7,054,850

80


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ocal Gov't Loan-Pasquotank County has applied for a CDBG-HD from DCA in the amount of20,000 and will loan River's Edge, LLC $108,000. The loan will be for 20 years at 2%.

quity Commitment letter provided by Alliant Capital, LTD.



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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


500,000 400,000

3,376,800 3,376,800

232,608 232,608

82,188 82,188

246,564 246,564

133,145 133,145

82,200 82,200

30,000 30,000

55,000 36,000

4,738,505

10,000 10,000

31,473 31,473

186,862 112,117

10,000 7,000

369,384 369,384

15,000 15,000

4,000 4,000

10,000 10,000

7,200 7,200

10,000


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30 Real Estate Attorney

31 Other Attorney's Fees

32 Tax Credit Application Fees (Preliminary and Full)

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

34 Cost Certification / Accounting Fees

35 Tax Opinion

36 Organizational (Partnership)

37 Tax Credit Monitoring Fee


38 Furnishings and Equipment

39 Relocation Expense

40 Developer's Fee

41

42

43 Rent-up Expense

44

45


46 Rent up Reserve

47 Operating Reserve

48

49

50 DEVELOPMENT COST (lines 1-49)

51 Less Federal Financing

52 Less Disproportionate Standard

53 Less Nonqualified Nonrecourse Financing

54 Less Historic Tax Credit

55 TOTAL ELIGIBLE BASIS

56 Applicable Fraction (percentage of LI Units)

57 Basis Before Boost

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

59 TOTAL QUALIFIED BASIS


653,919

24,000 9,000

25,000 25,000

2,200

45,690

10,000 10,000

5,000

1,000

39,200

152,090

40,000 40,000

588,000 588,000

building permits

investor attorney / inves

15,000

off site costs

survey / title conversion

643,000

16,800

110,536

Other Reserve (specify)

Other Reserve (specify)

6,314,850 0 5,857,679

0

5,857,679 0 5,857,679

100.00% 100% 100%

5,857,679 0 5,857,679

130.00% 130.00%

7,614,983 0 7,614,983


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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:

Line #19 includes costs for a stormwater, landfill, and recreation impact fee, as well as the water and sewerconnection fees based on the number of units.Line #44 includes costs for an off-site emergency access and interconnectivity measures to link thecommunity to the adjacent shopping center.

Total Replacement Cost per unit:81,630


3.40 8.50

647,274 0 647,274

685,348 0 685,348

0

740,000

7,054,850

685,348


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arket Study Information

ase provide a detailed description of the proposed project:

e are proposing to build 56 family units. There will be five residential buildings and a clubhouse building.cording to local real estate professionals there is a growing need for new affordable housing. With anpanding economy and populuation, Elizabeth City's demand for affordable housing becomes moreident. The site is located in close proximity to grocery stores, commercial facilities, restaurants, andtertainment. The site is also lies on one of the main thoroughfares through Elizabeth City allowing forse of transportation to and from the location of the development.

nstruction (check all that apply):

Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches

Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding

Other:

ve you built other tax credit developments that use the same building design as this project?No

If yes, please provide name and address:

e Amenities:

undry, online computer stations, community room, picnic and grill areas, playground and benches onoperty, and connecting sidewalks that encourages walks around the property.

site Activities:

e will work closely with local human service agencies to provide educational, social and healtheservation programs for the families living at River's Edge. We plan to invite local service providers andse managers to come on site and provide educational workshops for our residents. Residents will havecess to the internet and computers in our computer center. Management will supply refreshments forese functions and coordinate services with the residents.

ndscaping Plans:



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ur landscaping plan will be creative as we hope to incorporate many different kinds of evergreens andciduous species trees and shrubbery around the buildings. Specific flowering type trees will also belized to accent color beauty, and texture, as will colorful perennials and accent flower beds. Overall thendscaping plan will facilitate picnicking and leisurely strolls around the development.

erior Apartment Amenities:

anges, range hoods, dishwashers, refrigerators (frost-free), interior and exterior storage areas, mini-

nds, pantry, ceiling fans, walk in closets, carpet and washers and dryers hook-ups.

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.

izabeth City was ranked by Money Magazine as one of the Best Places to live on the Coast. The site is

close proximity to the Pasquotank River and Intracoastal Waterway. It is close to shopping, retail,ommercial and medical and services. The surrounding properties are a mix of commercial and residential.he neighborhood as a whole is growing and there are many single-family neighborhoods being built. Asizabeth City contiues to grow, so does the need for more affordable high quality rental units.

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. There are no other apartment communities near this project but manysinesses that will be beneficial to our residents. There are restaurants, grocery stores, a bank, an urgentre and a gas station all within walking distance of our proposed project.

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. There are adequate traffic controls and there is no burden on the public

cilities for this project. There is no mass transit but there is public transportation that will come to thevelopment. Neighboring businesses are Pizza Inn, Subway, Applebees, Farm Fresh Grocery, Chartway

ank, Urgent Care, and a BP gas station.

egree of on-site negative features and physical barriers that will impede project construction or adversely

ect 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).

here are no negative features on the site that will impede the construction or adversely affect the futurenants.

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

he proposed community will fit in nicely with the surrounding area. The design of our buildings will fit inesthetically and actually enhance the existing community.We are working very closely with the City toesign our product and develop our site plan.

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



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Grocery StoreCommunity/Senior

Center

Mall/Strip Center Hospital

Outdoor Athletic Fields Pharmacy

Day Care/After School Basic Health Care

Schools

Public Transportation

op

Convenience Store

Public Parks

Gas Station

Library

her facilities or services:e college of the Albemarle, Elizabeth City State University, and Roanoke Bible College are also in close

oximity. See map located in the Map/Directions section of the Application to show proximity to services/menities.


1.4

2 3

5 .2

5 .2

6

4


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evelopment Team

ovide contact information for development team members below:

nagement Agent

ompany: Vista Capital Management Group, Inc.

ddress: 201 E. McBee Ave., Third Floor, Suite 300-B

ty: Greenville State: SC Zip:

one Email:

ontact Name: First: Wayne Last: Redding

chitect

ompany: Humphreys & Partners Architects

dress: 8929 J. M. Keynes Drive, Suite 355

ty: Charlotte State: NC Zip:

one Email:

ontact Name: First: Sarmad Last: Fahmi

orney

ompany: Blanco Tackabery

dress: 110 S. Stratford Rd., Suite 500

ty: Winston Salem State: NC Zip:

one Email:

ontact Name: First: Carolyn Last: Scogin

estor

ompany: Alliant Capital, LTD.

dress: 340 Royal Poinciana Way, Suite 305

ty: Palm Beach State: FL Zip:

one Email:

ontact Name: First: Becker Last: Bass

nsultant/Application Preparer (if different from developer)

ompany: Halcon Properties & Consulting, LLC

dress: 1403 Pitching Wedge Drive, Suite #305

ty: Raleigh State: NC Zip:

one Email:

ontact Name: First: Traci Last: Dusenbury


29601

(864)404-3500 [email protected]

28262


27104


33480


27603



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neral Contractor Identity of Interest?

ompany: Progress Builders, LLC

dress: PO BOX 160 / 709 N. Main Street

ty: Aynor State: SC Zip:

one Email:

ontact Name: First: Michael Last: Allard


29511



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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


1,000

2,400

21,000

38,000

3,000

1,500

1,000

computer center/high sp1,200

69,100

9,500

8,300

8,300

26,100

1,000

3,500

3,500

7,000


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Grounds Supplies

Grounds Contract

Repairs Payroll

Repairs Material

Repairs Contract

Elevator Maintenance/Contract

Heating/Cooling Repairs and Maintenance

Swimming Pool Maintenance/Contract

Snow Removal

Decorating Payroll/Contract

Decorating Supplies

Other (specify):

Miscellaneous Operating & Maintenance Expenses

SUBTOTAL

Taxes and Insurance

Real Estate Taxes

Payroll Taxes (FICA)

Miscellaneous Taxes, Licenses and Permits

Property and Liability Insurance (Hazard)

Fidelity Bond Insurance

Workmen's Compensation

Health Insurance and Other Employee Benefits

Other Insurance:

SUBTOTAL

Supportive Service Expenses

Service Coordinator

Service Supplies

Tenant Association Funds

Other Expenses (specify):

SUBTOTAL

Reserves

Replacement Reserves

SUBTOTAL


1,000

6,000

1,000

4,000

27,000

29,716

5,000

24,000

4,000

Flood Insurance10,000

72,716

4,000

1,600

Flood

5,600

14,000

14,000


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TOTAL OPERATING EXPENSES

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

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

PER UNIT PER YEAR


214,516

165,200

56

2,950


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

river's edge app

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