Arbors at Winmore App
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Print Preview - FinalApplicationTax Credits, RPP Loans, and/or Tax Exempt Bond Loans
roject Description
oject Name: The Arbors at Winmore
ddress: (scattered sites) W. Winmore Avenue, S. Cameilia Street
ty: Carrboro County: Orange Zip:
ensus Tract: 112.02 Block Group: 1003
project in Qualified Census Tract or Difficult to Develop Area? No
olitical Jurisdiction: Town of Carrboro
risdiction CEO Name:First:Mark Last:Chilton
Title: Mayor
risdiction Address: 301 W. Main Street
risdiction City: Carrboro 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
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27510
27510
(919)942-8541
35.9472
-79.0802
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If yes, please describe:
rget Population:Family
ll the project be receiving project based federal rental assistance? No
If yes, provide the subsidy source: and number of units:
icate below any additional targeting for special populations proposed for this project:
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal andstate codes.)
Number of Units:
Persons with disabilities or homeless populations: 10% of the total units.
Number of Units:
Remarks:
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3
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: Crosland LLC
dress: 227 West Trade Street, Suite 800
ty: Charlotte State: NC Zip:
ontact: First: Dean Last:Edwards Title:Vice President
lephone:
Phone:
x:
mail Address:
OTE: Email Address above will be used for communication between NCHFA and Applicant.
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28202
(919)754-8990
(919)256-3025
(919)754-8995
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te Description
al Site Acreage: Total Buildable Acreage:
If buildable acreage is less than total acreage, please explain:
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:
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1.67 1.67
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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:
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09/30/2008
850,176
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oning
esent zoning classification of the site:VMU (Village Mixed Use)
multifamily use permitted?Yes
e variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?No
If yes, have the hearings been completed and permits been obtained?
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for obta
them:
e there any existing conditions of historical significance located on the project site that will require State Historic Preservation office re
If yes, describe below:
e there any existing conditions of environmental significance located on the project site?No
If yes, describe below:
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wnership Entity
wner Name: Arbors at Winmore LLC
dress: 227 West Trade Street, Suite 800
y: Charlotte State:NC 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: Crosland LLC
st Name: Dean Last Name: Edwards Function: Managing Memberddress: 227 West Trade Street, Suite 800
ty: Charlotte State: NC Zip: 28202
one: Fax:
Mail: Nonprofit: No
Org: United Housing Associates, Inc.
st Name: Kathi Last Name: Santeramo Function: Member
ddress: 1345 Garner Lane, Suite 103
ty: Columbia State: SC Zip: 29210
one: Fax:
Mail: Nonprofit: Yes
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28202
26-0829629
(919)754-8990 (919)754-8995
(803)731-3881 (803)731-3877
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oposed number of residential buildings: Maximum number of stories in buildings:
oject Includes:Separate community building - Sq. Ft. (Floor Area):
Community space within residential bulding(s) - Sq. Ft. (Floor Area):
Elevators - Number of Elevators:
uare Footage Information
oss Floor Square Footage:
tal Net Sq. Ft. (All Heated Areas):
tes
Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low inc
units are within established thresholds.
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4 3
1,972
64,243
61,212
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
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
targeted at percent of median income affordable to/occupied by
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.
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11 30
4 30
15 50
6 50
16 60
6 60
58
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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:Town of Chapel Hill - HOME Funds
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan
Other Loan 1 - Specify:FHLB-AHP
Other Loan 2 - Specify:FHLB-AHP
Other Loan 3 - Specify:
Tax Exempt Bonds
State Tax Credit(Loan)
State Tax Credit(Direct Refund)
Equity: Federal LIHTC
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees
Owner Investment
Other - Specify:
Total Sources**
"Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt serbelow.
Total Sources must equal total replacement cost in Project Development Cost (PDC) section.
timated pricing on sale of Federal Tax Credits: $0.
emarks concerning project funding sources:ease be sure to include the name of the funding source(s))
e Non-repayable Grant is a FHLB-AHP Grant which is being converted to a non-amortizing loan
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300,000 2.00 30 30 13,306
1,440,000 2.00 20 20 87,417
550,000 7.00 30 30 43,910
250,000 4.46 30 30
410,160 0 30 30 0
4,541,011
7,491,171
85
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om the non-profit sponsor to the project at the Applicable Federal Rate with no payments for 30ars. This $250,000 will remain in Basis.
ans with Variable Amortizationease fill in the annual debt service as applicable for the first 20 years of the project life.
her Loan 2 - FHLB-AHP
ear:mt:
1 2 3 4 5 6 7 8 9 10
ear:mt:
11 12 13 14 15 16 17 18 19 20
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0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
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evelopment Costs
Item Cost Element TOTAL COSTEligible Basis
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only)
2 Demolition (Rehab / Adaptive Reuse only)
3 On-site Improvements
4 Rehabilitation
5 Construction of New Building(s)
6 Accessory Building(s)
7 General Requirements (max 6% lines 2-6)
8 Contractor Overhead (max 2% lines 2-7)
9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest)
10 Construction Contingency (max 3% lines 2-9, Rehabs 6%)
11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10)
12 Architect's Fee - Inspection
13 Engineering Costs
SUBTOTAL (lines 1 through 13)
14 Construction Insurance (prorate)
15 Construction Loan Orig. Fee (prorate)
16 Construction Loan Interest (prorate)
17 Construction Loan Credit Enhancement (prorate)
18 Construction Period Taxes (prorate)
19 Water, Sewer and Impact Fees
20 Survey
21 Property Appraisal
22 Environmental Report
23 Market Study
24 Bond Costs
25 Bond Issuance Costs
26 Placement Fee
27 Permanent Loan Origination Fee
28 Permanent Loan Credit Enhancement
29 Title and Recording
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605,334 605,334
3,427,803 3,427,803
241,988 241,988
85,503 85,503
256,508 256,508
138,514 138,514
104,250 104,250
38,400 38,400
50,000 50,000
4,948,300
16,500 16,500
36,750 36,750
225,468 225,468
5,000 5,000
294,448 294,448
20,000 20,000
5,000 5,000
9,000 9,000
4,300 4,300
19,900
10,000
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SUBTOTAL (lines 14 through 29)
30 Real Estate Attorney
31 Other Attorney's Fees
32 Tax Credit Application Fees (Preliminary and Full)
33 Tax Credit Allocation Fee (0.60% of line 59, minimum $7,500)
34 Cost Certification / Accounting Fees
35 Tax Opinion
36 Organizational (Partnership)
37 Tax Credit Monitoring Fee
SUBTOTAL (lines 30 through 37)
38 Furnishings and Equipment
39 Relocation Expense
40 Developer's Fee
41
42
43 Rent-up Expense
44
45
SUBTOTAL (lines 38 through 45)
46 Rent up Reserve
47 Operating Reserve
48
49
50 DEVELOPMENT COST (lines 1-49)
51 Less Federal Financing
52 Less Disproportionate Standard
53 Less Nonqualified Nonrecourse Financing
54 Less Historic Tax Credit
55 TOTAL ELIGIBLE BASIS
56 Applicable Fraction (percentage of LI Units)
57 Basis Before Boost
58 Boost for QCT/DDA (if applicable, enter 130%)
59 TOTAL QUALIFIED BASIS
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646,366
40,000 40,000
10,000 10,000
2,200
37,715
15,000 15,000
2,500
2,500
40,600
150,515
35,000 35,000
609,000 609,000
Other Basis Expense (B 12,000 12,000
Other Basis Expense (S
26,100
Other Non-basis Expen
Other Non-basis Expen
682,100
17,400
196,314
Other Reserve (specify)
Other Reserve (specify)
6,640,995 0 6,285,766
0
6,285,766 0 6,285,766
100.00% 100% 100%
6,285,766 0 6,285,766
100.00% 100.00%
6,285,766 0 6,285,766
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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:
Total Replacement Cost per unit:81,994
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3.40 8.50
534,290 0 534,290
565,719 0 565,719
0
850,176
7,491,171
565,719
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arket Study Information
ase provide a detailed description of the proposed project:
e Arbors at Winmore will be a 58-unit family housing development located in a pastoral setting of rollinguntryside not far from downtown Carrboro and Chapel Hill, NC. The Arbors at Winmore is situated on 3parate plots of land within the Winmore Subdivision, a high-end, market rate, traditional neighborhoodproved by the Town of Carrboro with the stipulation that affordable housing be made available to themmunity. The site for Winmore includes almost 68 acres of wooded land where attention to detail is therm. The community will have its own civic building, a community swimming pool and club house,
ailable to all residents, as well as a Frisbee Golf field, a children's play area, village green, and largeeenway with walking trails. The developers also plan an apple orchard, and other environmentally friendlyeen spaces throughout the village. The Arbors at Winmore consists of 42 2-BR and 16 3-BR unitssigned with the overall look of the Village Mixed Use sought after by the Town of Carrboro. The floor
ans for the Arbors will range from garden style apartments to colonial-style town homes dependent uponeir location. The Arbors will be divided into two primary sites, and will have its own community room andtivity space for tenants to augment the overall village amenities. The apartments will include spaciousor plans, washer and dryer hook-ups, balconies, and exterior storage space for each unit. Winmorebdivision itself is being promoted as a dynamic, mixed-use community nestles off of Homestead Road,
st a short walk to the local elementary, middle, and high schools. It will include 96 single family homes, 86wn homes, 20 of which will be live/work homes build around the central village green. Prices will rangem under $400,000 to the $900,000's and will provide a wonderful mix of income ranges that will includehe Arbors" tenants.
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?Yes
If yes, please provide name and address:
The Havens at Willow Oaks located in Greensboro, NC uses a portion of this design for the townhouseunits.
e Amenities:
entral community Civic building, community swimming pool, children's play area, Frisbee Golf Field,eenway, walking trails. Community Center with laundry facilities, TV room, computer center with higheed internet connection, library, and deck area for tenant gatherings. The Winmore Master Planned
ommunity includes a Village Conservancy (open space), children's play area, multi-use field, bike racks,nches, and community gardens.
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site Activities:
ter school tutoring and activities for children, summer camp, family counseling and educationalportunities as well as tenant sponsored dinners.
ndscaping Plans:
th a generous budget of $1,200 per unit, Crosland will heavily landscape the proposed buildings in thisoject to ensure the mature growth of plants and trees compliment the surrounding wooded area. Winmorebdivision has adopted a "Winmore Design Code", which includes landscaping regulations and plant lists
at include the requirement of 1 1/2 inch caliper trees on the street side of all buildings and houses. Theveloper is also required by the town to landscape the entry and streetscape throughout the subdivision.
erior Apartment Amenities:
nits are spacious and planned to maximize living space. Each unit includes its own washer dryer hook-up,chen with bar areas that open out to dining and living areas, pantries, covered balconies with exteriororage closets, and ceiling fans in bedrooms and living rooms.
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.
Winmore Subdivision itself is being promoted as a dynamic, mixed-use community nestled off of
omestead Road, just a short walk to the local elementary, middle and high schools. It will include 96 singlemily homes, 86 town homes, 20 of which will be live/work homes built around the central village green.rices will range from under $400,000 to the $900,000's which fall in line with surrounding communities.he Carrboro/Chapel Hill area has been a unique real estate market with land at a premium and no realfordable housing available. There is no nearby affordable housing other than another Crosland tax creditte in Chapel Hill which will not impact this site.
URROUNDING LAND USES AND AMENITIES
nd use pattern is residential in character (single and multifamily housing). Extent that the location isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:astewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distributioncilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,
urces of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount andaracter of vacant, undeveloped land. Surrounding areas for Winmore include a variety of single family andultifamily homes and apartments. No industrial sites or other commercial sites are located nearby, andhile there is a power transmission line through the Winmore Subdivision, the tract is heavily wooded, ands and streets have been planned so that the line will have minimal effect on the residents.
TE SUITABILITY
equate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilitiesarticularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project signin relation to traffic corridors. The Arbors is located within the Winmore Subdivision and is, therefore,
sulated from heavy traffic. Mass transit stops have been planned in the village green area of thebdivision, and will be within walking distance of The Arbors tenants.
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 few problems with site development for the project. The master developer of Winmore is in therocess of finishing all utilities to the full subdivision, water, sewer, electric, and paving, should beompleted by summer of 2007. While there are streams running through the neighborhood, the developeras mitigated these in accordance with the state of NC and has developed the parcels on which The Arborsll be built in such a way that there will be no adverse effects from streams and floodways.
milarity of scale and aesthetics/architecture between project and surroundings.
he Arbors will consist of 2 and 3 story buildings that will blend in with the surrounding town homes, singlemily houses and businesses to be constructed in the neighborhood. Also, Winmore's developer's havedopted a "Winmore Design Code" which must be followed by all builders in the neighborhood, insuring aomogeneous look and quality.
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 fitness/nature trails and public swimming pool are part of the overall Winmore project.
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7.4
7 5.14
5 1.7
5 1.6
2
6
7
5
7
25
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evelopment Team
ovide contact information for development team members below:
nagement Agent
ompany: Crosland LLC
dress: 227 W. Trade St., Suite 800
ty: Charlotte State: NC Zip:
one Email:
ontact Name: First: Charlie Last: Henley
chitect
ompany: J Davis
dress: 510 Glenwood Ave., Suite 201
ty: Raleigh State: NC Zip:
one Email:
ontact Name: First: Bill Last: Egan
orney
ompany: Jordan Price Wall Gray Jones & Carlton
dress: 1951 Clark Avenue
ty: Raleigh State: NC Zip:
one Email:
ontact Name: First: Susan Last: Ellinger
estor
ompany: RBC Capital Markets-Apollo Equity Partners
dress: 2101 Rexford Road, Suite 375W
ty: Charlotte State: NC Zip:
one Email:
ontact Name: First: Brian Last: Flanagan
nsultant/Application Preparer (if different from developer)
ompany:
dress:
ty: State: Zip:
one Email:
ontact Name: First: Last:
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28202
(704)529-1166 [email protected]
27603
(919)835-1500 [email protected]
27605
(919)831-4482 [email protected]
28211
(980)233-6500 [email protected]
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neral Contractor Identity of Interest?
ompany: Crosland Contractors LLC
dress: 227 W. Trade St., Suite 800
ty: Charlotte State: NC Zip:
one Email:
ontact Name: First: Denon Last: Williams
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28202
(704)529-1166 [email protected]
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rojected Operating Costs
Project Operations (Year One)
Administrative Expenses
Advertising
Office Salaries
Office Supplies
Office or Model Apartment Rent
Management Fee
Manager or Superintendent Salaries
Manager or Superintendent Rent Free Unit
Legal Expenses (Project)
Auditing Expenses (Project)
Bookkeeping Fees/Accounting Services
Telephone and Answering Service
Bad Debts
Other Administrative Expenses (specify):
SUBTOTAL
Utilities Expense
Fuel Oil
Electricity (Light and Misc. Power)
Water
Gas
Sewer
SUBTOTAL
Operating and Maintenance Expenses
Janitor and Cleaning Payroll
Janitor and Cleaning Supplies
Janitor and Cleaning Contract
Exterminating Payroll/Contract
Exterminating Supplies
Garbage and Trash Removal
Security Payroll/Contract
Grounds Payroll
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1,500
500
25,752
36,000
1,500
5,000
10,000
3,600
1,500
Training/Mileage2,000
87,352
2,500
13,500
13,500
29,500
12,000
250
5,000
2,500
500
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Grounds Supplies
Grounds Contract
Repairs Payroll
Repairs Material
Repairs Contract
Elevator Maintenance/Contract
Heating/Cooling Repairs and Maintenance
Swimming Pool Maintenance/Contract
Snow Removal
Decorating Payroll/Contract
Decorating Supplies
Other (specify):
Miscellaneous Operating & Maintenance Expenses
SUBTOTAL
Taxes and Insurance
Real Estate Taxes
Payroll Taxes (FICA)
Miscellaneous Taxes, Licenses and Permits
Property and Liability Insurance (Hazard)
Fidelity Bond Insurance
Workmen's Compensation
Health Insurance and Other Employee Benefits
Other Insurance:
SUBTOTAL
Supportive Service Expenses
Service Coordinator
Service Supplies
Tenant Association Funds
Other Expenses (specify):
SUBTOTAL
Reserves
Replacement Reserves
SUBTOTAL
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500
14,000
500
1,500
250
250
37,250
40,600
2,743
500
15,000
75
75
3,000
61,993
12,000
500
12,500
14,500
14,500
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TOTAL OPERATING EXPENSES
ADJUSTED TOTAL OPERATING EXPENSES(Does not include taxes, reserves and resident support services) *
TOTAL UNITS(from total units in the Unit Mix section)
PER UNIT PER YEAR
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243,095
175,495
58
3,026
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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:High Income county:
At least twenty-five percent (25%) of qualified units will be affordable to households with incomes at or below thirty percent (30county median income.At least twenty-five percent (25%) of qualified units will be affordable to and occupied by households with incomes at or below 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 comedian income.At least fifty percent (50%) of qualified units will be affordable to and occupied by households with incomes at or below forty pe(40%) 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)