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Page 1 of 34
Resources Requested
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:
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Is project in Qualified Census Tract & Difficult to Develop area: No Political Jurisdiction: Jurisdiction Address: Jurisdiction City: Jurisdiction Phone: City of Roanoke Rapids Last: Beale Title: Mayor P.O. Box 38 Roanoke Rapids (252)533-2840 Zip: 27870
36.432 -77.630
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Project Description
Project Type:* New Construction Rehab Adaptive Reuse
Is this project a follow-on (Phase II, etc) to a previously-awarded tax credit development project? No If yes, list names of previous phase(s): Will the project be receiving federal rental assistance? No If yes, provide the subsidy source: and number of units:
Target Population: Family Indicate 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 other federal and state requirements) Persons with disabilities or homeless populations: the greater of 5 units or 10% of the total units Remarks: 25% of the units will be handicapped accessible. 5 of the units will target the disabled/homeless population. Rents on those 5 units will be $145 per month.
Townhouse
Duplex
Garden Apartment
Detached Single-Family
Separate community building - Sq. Ft. (Floor Area): 1,203 Community space within residential bulding(s) - Sq. Ft. (Floor Area): Elevators - Number of Elevators: Square Footage Information Gross Floor Square Footage: 49,135
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Applicant Information
Applicant Name: Address: City: Contact: Telephone: River View Green Associates Limited Partnership P.O. Drawer 42208 Fayetteville First: Murray (910)485-6600 State: NC Zip: 28309 Last: Duggins Title: Gen. Partner (see page 9)
Alt Phone:
Fax:
(910)483-4274
Email Address:
wanda@united-realty-fay.com
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Site Description
Total Site Acreage: 5 Total Buildable Acreage: 5 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
Are 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? Is the site in a distressed neighborhood? No If yes, does a community revitalization plan exist? Is the site directly accessed by an existing, paved, publicly maintained road? Yes If no, please explain:
Is 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:
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(b) Describe flood mitigation if the project is in the East Region and will have improvements within the 100 year floodplain:
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Site Control
Does the owner have fee simple ownership of the property (site/buildings)? No If yes provide: Purchase Date: If 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? No If yes, specify the relationship:
Purchase Price:
(c) Enter the current expiration date of the option/contract to purchase: 10/15/2003 (D) Enter Purchase Price: 175,000
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Zoning
Present zoning classification of the site: R-3 Residential Is mutifamily use permitted? Yes Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal? No If yes, have the hearings been completed and permits been obtained? If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for obtaining them:
Is a public hearing of any kind required in the future for you to fully develop this property? No 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? No If yes, describe below:
Are there any existing conditions of environmental significance located on the project site? No If yes, describe below:
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Ownership Entity
Owner Name: River View Green Associates Limited Partnership Address: City: P.O. Drawer 42208 Fayetteville State: NC Zip: 28309 (If assigned) 56-2053411 (If Not Assigned)
Federal Tax ID Number of Ownership Entity: Federal Tax ID Number of Managing GP or Member:
Entity Type: Limited Partnership Entity Status: To Be Formed Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? Is the applicant requesting that the Agency treat the application as CHDO sponsored?
No No
List all general partners, members,and principals. Specify nonprofit corporate general partners or members. Click [Add] to add additional partners, members, and principals.
Org:
River View Green/Duggins LLC Last Name: N/A Function: Managing General Partner
First Name: N/A Address: City: Phone: EMail: P.O. Drawer 42208 Fayetteville (910)485-6600
State: NC
Zip: 28309
wanda@united-realty-fay.com
Org:
First Name: Murray Address: City: Phone: EMail: P.O. Drawer 42208 Fayetteville (910)485-6600
State: NC
Zip: 28309
wanda@united-realty-fay.com
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Unit Mix
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) to delete a row. Low Income Units Type Gdn Apt Gdn Apt Gdn Apt Gdn Apt Gdn Apt Gdn Apt # BRs Net Sq.Ft. 2 2 2 2 3 3 880 880 880 880 1100 1100 Total # Units 5 6 7 18 4 4 # Units 1 1 4 3 1 1 Monthly Rent 145 285 380 425 445 460 Electric Utility Allowance 70 70 70 70 100 100 Gas Other Mandatory Serv. Fees 0 0 0 0 0 0 **Total Housing Exp. 215 355 450 495 545 560
Water/Sewer
Market Rate Units Type # BRs Net Sq.Ft. Total # Units # Units Monthly Rent Utility Allowance Gas Other Mandatory Serv. Fees **Total Housing Exp.
Water/Sewer
Electric
Statistics All Units Low Income....... Market Rate....... Totals............... 44 11 16365 44 Gross Monthly Rental Income 16365
Units 11
Notes * ** 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 income units are within established thresholds.
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Targeting
Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to create another row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.
# BRs 2 2 2 3 3 11 7 18 4 4
% percent of median income. percent of median income. percent of median income. percent of median income. percent of median income.
44
Note: This number should match the total number of low income units in the Unit Mix section.
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Funding Sources
NonAmortizing* Rate (%) 7.25 Term (Years) 20 Amort. Period (Years) 30 Annual Debt Service 40,399
Source Bank Loan RPP Loan Local Gov. Loan - Specify: RD Loan AHP Loan Other Loan 1 - Specify: Other Loan 2 - Specify: Other Loan 3 - Specify: Tax Exempt Bonds State Tax Credit(Loan) State Tax Credit(Direct Refund) Equity: Federal LIHTC Non-Repayable Grant Equity: Historic Tax Credits Deferred Developer Fees Owner Investment Other - Specify: Total Sources**
Amount 493,510
882,911
30
30
1,852,751
12,516
3,241,688
* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt service below. ** Total Sources must equal total replacement cost in Project Development Cost (PDC) section. Estimated pricing on sale of Federal Tax Credits: $0. 80 Remarks concerning project funding sources: (Please be sure to include the name of the funding source(s))
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Development Costs
Item Cost Element 1 Purchase of Buildings (Rehab) 2 Demolition 3 On-site Improvements 4 Rehabilitation 5 Construction of New Building(s) 6 Accessory Building(s) 7 General Requirements 8 Contractor Overhead 9 Contractor Profit 10 Construction Contingency 11 Architect's Fee - Design 12 Architect's Fee - Inspection SUBTOTAL (lines 1 through 12) 13 Construction Insurance (prorate) 14 Construction Loan Orig. Fee (prorate) 15 Construction Loan Interest (prorate) 16 Construction Loan Credit Enhancement (prorate) 17 Construction Period Taxes (prorate) 18 Water, Sewer and Impact Fees 19 Survey 20 Property Appraisal 21 Environmental Report 22 Market Study 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 SUBTOTAL (lines 13 through 28) 29 Real Estate Attorney 30 Other Attorney's Fees 31 Tax Credit App Fees 32 Cost Certification/Accounting Fees (specify) 33 Tax Opinion 34 Organizational (Partnership) 35 Tax Credit Monitoring Fee SUBTOTAL (lines 29 through 35) 36 Furnishings and Equipment 37 Relocation Expenses 38 Developer's Fee (max 15% lines 2-36, less 8 & 9) 39 40 42 43 Other Basis Expense (specify) Other Basis Expense (specify) Other Non-basis Expense (specify) Other Non-basis Expense (specify) SUBTOTAL (lines 36 through 43) 44 Rent up Reserve 335,000 14,000 330,000 330,000 23,100 88,708 5,000 5,000 16,608 7,000 16,608 7,000 97,459 42,000 42,000 3,000 11,459 4,000 6,000 4,000 4,000 3,000 11,459 4,000 6,000 4,000 4,000 60,000 60,000 2,444,971 5,000 5,000 109,521 42,750 128,300 69,400 65,000 109,521 42,750 128,300 69,400 65,000 1,750,000 1,750,000 280,000 280,000 TOTAL COST Eligible Basis 30% PV 70% PV 0
41 Rent-up Expenses
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86,550
48 DEVELOPMENT COST (lines 1-47) 49 Less Federal Financing 50 Less Disproportionate Standard 51 Less Nonqualified Nonrecourse Financing 52 Less Historic Tax Credit (residential) 53 TOTAL ELIGIBLE BASIS 54 Times Applicable Fraction 55 TOTAL QUALIFIED BASIS 56 Tax Credit Rate 57 FEDERAL TAX CREDITS at Estimated Rate 57a FEDERAL TAX CREDITS at 8.5% or 3.75% 58 FEDERAL TAX CREDITS REQUESTED 59 STATE TAX CREDITS 60 Land Cost 61 TOTAL REPLACEMENT COST Comments: application submitted at 8.5%.
3,066,688
2,943,038
0 2,943,038 100.00% 2,943,038 231,617 250,158 250,469 884,010 175,000 3,241,688 0 100% 0 8.50% 0 0 2,943,038 100% 2,943,038 7.87% 231,617 250,158 250,469
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Have you built other tax credit developments that use the same building design as this project? Yes If yes, please provide name and address: Golfview Apts., 4131 Fescue Ct., Hope Mills NC; Crosswinds I & II, 3415 Town St., Hope Mills, NC;Longview Apts., 117 Longview Dr., Fayetteville NC; Blanton Green I & II,(Phase II under const.) 1024 Lauren McNeill Loop, Fayetteville NC;Rosehill West Apats., 1945 James Hamner Way, Fayetteville NC;Raeford Green Apts., 300 Southern Ave., Raeford NC;Woodgreen Apts., 200 Bradford St., Aberdeen, NC.
Site Amenities (check all that apply): Community Bldg - Sq Ft: 1,203 Laundry Rm Game/Craft Rm Chapel/Prayer Rm Irrigated Lawns Walking Trails Pool Screened Porch Exercise Rm Picnic Area Security Gate Garden Spots Fitness Stations Community Room - Sq Ft: Resident Computer Center TV Rm Onsite Leasing Office Car Care Area Basketball/Tennis Court Horseshoe Pit Garages - Number: Exam Rm Beauty Salon Onsite Mgr Storage Units Playground Shuffleboard Reading Rm/Library Vending Rm Onsite Maint. Person Gazebos Ball Field Covered Drive Thru
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Interior Apartment Amenities (check all that apply): Range W/D Hookups Flooring: Carpet Hood Mini-blinds Vinyl Central Air Dishwasher Pantry Wood Gas Heat Disposal Ceiling fans Wood Parquet Heat Pump Refrigerator (frost free) Walk-in closets Other VCT Storage interior/exterior
Heating/Cooling:
Do 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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Suitability of surrounding development. Land use pattern is primarily residential with a balance of other uses, including non-competing multifamily and single family units, relevant amenities, shopping and services. Amenities i.e. shopping and services (see distance sheet) are within one mile of site. Land use pattern is a mix of residential homes and multifamily apartments.
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). Ingress and egress is from Riverview Court and traffic will empty on to Old Farm Road, which is not a major traffic artery. Appropriate stop signs and traffic lights are in place.
Amount and character of vacant, undeveloped land. Effect of industrial, large-scale institutional or other incompatible uses: wastewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distribution facilities, 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 or pollution). We do not believe there are any impediments to construction or conditions adverse to future tenants. Site backs up to I-95, however a natural heavily wooded buffer will be left in place.
Degree of on-site negative features and physical barriers that will impede project construction or adversely 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. For adaptive re-use projects- suitability for residential use and difficulties posed by the building(s), such as limited parking, environmental problems or the need for excessive demolition. There are no onsite negative features or physical barriers to impede construction or adversely affect future tenants.
Similarity of scale and aesthetics/architecture between project and surroundings. Project will be constructed to be aesthetically pleasing with surrounding area. Other "like" projects
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Concentration of affordable housing (housing credit, project-based rental assistance, public housing). There is a Rural Development complex in the area. However, concentration is not an issue because this is where growth in Roanoke Rapids is taking place and also due to the fact that this site is surrounded by the nicest homes in the area.
Availability of Supportive Services (if applicable): The developer employs a certified support services coordinator who works with tenants and establishes contact with city and county agencies as needed. He also provides on-site activities and is available to help tenants with special needs.
For each applicable neighborhood feature, enter distance from project in miles. .5 .5 1.00 1.5 1.00 Grocery Store Mall/Strip Center Outdoor Athletic Fields Day Care/After School Schools 2.00 1.2 .5 .5 .5 Community/Senior Center Hospital Pharmacy Basic Health Care Medical Offices Bank/Credit Union Restaurants Professional Services Movie Theater Video Rental Public Safety (Fire/Police) Post Office
Public Transportation Stop .3 .5 1.00 1.00 .3 2.00 1.00 1.6 Convenience Store Basketball/Tennis Courts Public Parks Gas Station Library Fitness/Nature Trails Public Swimming Pools .4 .5 1.1 .8 2.00 2.00
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Development Team
Provide contact information for development team members below: Management Agent Company: United Management Address: City: Phone P. O. Box 42936 Fayetteville (910)323-4266 State: NC Zip: 28309 Email: karl@unitedmgt.com Last: Johnson
Moore Riley Architects P. O. Box 17652 Raleigh (919)782-6472 State: NC Zip: 27691 Email: mrarch@intrex.com Last: Riley
Tuggle, Duggins & Meschan, P.A. P. O. Box 2888 Greensboro (336)271-5216 State: NC Zip: 27402 Email: bburgin@tuggleduggins.com Last: Burgin
Wachovia Securities 301 S. College St., TW17 Charlotte (704)383-6317 State: NC Zip: 28288-0173 Email: brian.flanagan@wachovia.com Last: Flanagan
Consultant/Application Preparer (if different from developer) Company: N/A Address: City: Phone Contact Name: First: State: Email: Last: Zip:
Identity of Interest? General Contractor Company: United Developers Address: City: Phone P. O. Box 42208 Fayetteville (910)485-6600 State: NC Zip: 28309 Email: wanda@united-realty-fay.com Last: Smith
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Management List number of low-income housing tax credit units managed in the past 10 years: North Carolina Other States Projects: Units: 20 760 5 128
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? No 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? No 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-insured project, a Rural Development funded rental project, a tax-exempt funded mortgage, a tax credit project, or any other publicly subsidized project? No 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 to meet 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? No 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? Yes
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Financing Commitments
Does the project have a firm commitment for construction financing? Does the project have a letter of intent for private permenant financing? Does the project have a firm commitment for government financing? Does the project have a letter of intent from an investor? Is any portion of the eligible basis of new contruction or rehabilitation financed with federal subsidies other than CDBG funds or funds from the HOME program? If yes, indicate the type and amount below: Tax Exempt Financing: $ RD 515 Financing: Hope VI Financing: Other: $ $ $ Yes Yes No Yes No
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2,500
2,500 1,000
8,000
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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 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
3,000 5,000
4,000
26,500 6,000
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132,700 52,724
40,399
12,325 1.305
* Net Rental Income escalated at annual rate of 3% and expenses escalated at a rate of 4% after the first year.
Calculations:
1. "Net Rental/Other Income" comes from 1st-year cash flow, then it is escalated by 3% per year. 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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Design Features
ITEM Foundation/Slab Components Primary Windows DESCRIPTION 20"x12" footings w/2 #5 rebar. Cont. reg. brick 4"x8"block & header blocks on 4" slab Make: Alenco Model: series 3852
Type/Construction: aluminum, single hung, thermal break, tilt sash Exterior Doors Type: Peachtree Steel Hardiplank & brick veneer and/or .044" Type: vinyl siding & trim Warranty: 50 yr. warranty Exterior Trim Shingles Pro Trim/Hardiplank and/or vinyl trim Type: Asphalt Warranty: 30 yr. architectural Sprinkler System Cabinets Heat Pump Grinnell fire protection system throughout. Wet system Tri-Pac Composite Box, 3/4" shelf, oak face SEER: 12 Model: Air Conditioner SEER: 12 Model: CPK J18 Other Heat Systems SEER: N/A Model: Make: Make: Goodman Make: Goodman Weight: 240# Frames: wood
Siding
Grade/Thickness:
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Costs - Construction
This is a detailed breakdown of rehabilitation or construction costs you summarized in the Development Costs table (Rehabilitation and Construction of New Building(s)). The total should match those roll-up values. ITEM Concrete Footings Backfill-slab, Crawl Slab-concrete/Rebar/Gravel Waterproofing Masonry Foundation Brick Veneer Steel/Structure/Rails Framing/Lumber/Nails Trusses Crane Rental Windows/Grilles/Screen Exterior Doors Roofing Fencing Vinyl Siding/Trim/Box Gutters/Shutters Insulation Drywall Interior Doors Int. & Final/Stair/Trim/Shelves Cabinets & Tops Painting Marble - Tub/Shwr/Tops Plumbing Electrical Heating/Air Conditioning Floor Covering and Underlayment Wall Paper Mailboxes/Special Features/Signage Gypcrete Blinds/Shades/Art Work Light Fixtures/Fans Sprinkler System Security Alarm Hardwood Floors Elevator Ceramic Tiles Acoustical Ceilings 27,709 26,559 105,247 0 0 0 0 11,633 15,691 67,894 4,604 15,634 52,514 25,895 0 29,679 38,489 0 56,842 37,119 38,936 16,364 11,128 307 0 3,613 0 0 0 0 0 0 0 23,562 31,178 173,454 68,396 7,163 16,777 42,678 8,144 4,681 19,706 5,193 23,452 35,012 60,435 0 44,528 31,494 0 80,582 49,212 64,232 38,190 11,129 3,550 0 8,449 0 0 0 0 0 0 0 LABOR 14,028 42,935 MATERIAL 7,892 35,131 TOTAL 21,920 78,066 0 0 0 51,271 57,737 278,701 68,396 7,163 16,777 42,678 19,777 20,372 87,600 9,797 39,086 87,526 86,330 0 74,207 69,983 0 137,424 86,331 103,168 54,554 22,257 3,857 0 12,062 0 0 0 0 0 0 0
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Mirror/Shower Door/Encls. Hardware/Bath Access. Appliances Playground Equipment Interior Clean Exterior Clean/Dumpster Other 1 (specify in Remarks) Other 2 (specify in Remarks) Total Cost Remarks: Other (1) Drive, Sidewalk, Porch Other (2) Site Utilities
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Costs - General
This is a detailed breakdown of the General Requirements cost element you summarized in the Development Costs table (General Requirements). The total should match that roll-up value. ITEM Supervision Job Site Office/Trailer Rental Impact Fees Office Supplies Security/Watchman Water and Sewer Connection Fees Project Signage Tools and Equipment Gas, Oil, and Maintenance Cleanup/Dumpster Rental Temporary Water, Electric, and Telephone Storage/Hauling Driveway Access Permit Porta-John Rental/Dumping Builders Risk Insurance Re-inspection Fees Extra Plans and Specifications Miscellaneous, Casual Labor Equipment Rental Other 1 (specify in Remarks) Other 2 (specify in Remarks) Total Cost Remarks: 0 2,482 0 1,986 4,095 0 8,374 4,095 4,840 0 0 0 0 0 0 109,521 0 10,550 TOTAL 68,260 4,839
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Costs - Improvements
This is a detailed breakdown of the Site Improvements cost element you summarized in the Development Costs table (On-site Improvements). The total should match that roll-up value. ITEM Subsurface Exploration/Perk Testing/Site Engineering Clearing/Grading/Final Grading/Excess and Borrow Demolition Earthwork/Excavation/Aerating Soil Treatment Pile Foundations Caissons Shoring/Bracing Site Drainage Site Utilities/Site Lighting Paving and Surfacing/Curb and Gutter Walkways Site Signage Parking Lot Painting Dumpsite Pads/Fencing Fencing/Gates Landscaping/Topsoil Waterproofing/De-Watering Operation of Construction Equipment/Fuel/Oil Crane Rental Rock and Hardpan Excavation Site Supervision Personnel Other (specify in Remarks) Total Cost Remarks: Other Hauling Trash TOTAL 0 61,098 0 16,536 2,732 0 0 0 16,024 64,740 42,546 0 2,129 851 4,155 0 40,866 0 0 0 0 8,901 19,422 280,000
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Minimum Set-Asides
MINIMUM REQUIRED SET ASIDES (No Points Awarded): 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%) of county median income. At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below thirty percent (30%) of county median income.
At least fifty percent (50%) of qualified units will be affordable to households with incomes at or below forty percent (40%) of county median 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 forty percent (40%) of county median income.
At least fifty percent (50%) of qualified units will be affordable to households with incomes at or below fifty percent (50%) of 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 county median 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.
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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.
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