Kohler Avenue Apartments

8/6/2019 Kohler Avenue Apartments

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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: Kohler Avenue Apartments

Address: 1238 Kohler Avenue

City: Charlotte County: Mecklenburg Zip: 28206

Census Tract: 50 Block Group: 1

Yes

Political Jurisdiction: City of Charlotte

Jurisdiction CEO Name: First: Last:Patrick McCrory Title: MayorJurisdiction Address: 600 East Fourth Street

Jurisdiction City: Charlotte Zip: 28202

Jurisdiction Phone: (704)336-7600

Site Latitude: 35.2510

Site Longitude: -80.8359

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: A partnership will be developed with Community Link to act as the local lead agency in the samemanner that Community Link is the local lead agency at Tyvola Crossing, another project developedby CMHP with a 2003 tax credit award.


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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: Charlotte-Mecklenburg Housing Partnership, Inc.

Address: 4601 Charlotte Park Drive, Suite 350

City: State: NC Zip:Charlotte 28217

Contact: First: Last: Title:Patricia Garrett President

Telephone: (704)342-0933

Alt Phone:

Fax: (704)342-2745

Email Address: [email protected]

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


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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

Yes

11/18/2003 1,834,500

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

(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:

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

(D) Enter Purchase Price:


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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

R-12 MF (CD)

Yes

No

No

No


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Ownership Entity

Owner Name: Kohler Ave LLC


City: State: NC Zip:Charlotte 28217

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: Already Formed

Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? Yes

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: Charlotte-Mecklenburg Housing Partnership, Inc.

First Name: Patricia Last Name: Garrett Function: Managing Member


City: Charlotte State: NC Zip: 28217

Phone: (704)342-0933 Fax: (704)342-2745

EMail: [email protected] Nonprofit: Yes


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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 %

2 6 targeted at 30 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))

Loans with Variable AmortizationPlease fill in the annual debt service as applicable for the first 20 years of the project life.

Funding Sources

Source AmountNon-

Amortizing*Rate(%)

Term(Years)

Amort.Period(Years)

AnnualDebt

Service

Bank Loan

RPP Loan

Local Gov. Loan - Specify:City of Charlotte

430,000 2.00 20 0

RD 515 Loan

RD 538 Loan - Specify:

AHP Loan

Other Loan 1 - Specify:CMHP Loan (Source of funds isCity of Charlotte)

460,000 4.90 40 0

Other Loan 2 - Specify:

Other Loan 3 - Specify:

Tax Exempt Bonds

State Tax Credit(Loan) 543,348 0 30 30 0

State Tax Credit(Direct Refund)

Equity: Federal LIHTC 3,936,556

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees

Owner InvestmentOther - Specify:

Total Sources** 5,369,904

* "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

The source of the CMHP loan to the project is City of Charlotte HOME funds.


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Local Gov. Loan - City of Charlotte

Year:Amt:

1

8600

2

8600

3

8600

4

8600

5

8600

6

8600

7

8600

8

8600

9

8600

10

8600

Year:Amt:

11

8600

12

8600

13

8600

14

8600

15

8600

16

8600

17

8600

18

8600

19

8600

20

8600

Other Loan 1 - CMHP Loan (Source of funds is City of Charlotte)

Year:Amt:

1

9200

2

9200

3

9200

4

9200

5

9200

6

9200

7

9200

8

9200

9

9200

10

9200

Year:Amt:

11

9200

12

9200

13

9200

14

9200

15

9200

16

9200

17

9200

18

9200

19

9200

20

9200


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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)

3 On-site Improvements 600,740 400,0004 Rehabilitation

5 Construction of New Building(s) 2,424,000 2,424,000

6 Accessory Building(s)

7 General Requirements 168,000 168,000

8 Contractor Overhead 62,400 62,400

9 Contractor Profit 240,000 240,000

10 Construction Contingency 96,000 96,000

11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 25,000 25,000

12 Architect's Fee - Inspection 75,000 75,000

13 Engineering Costs

SUBTOTAL (lines 1 through 13) 3,691,140

14 Construction Insurance (prorate) 10,000 10,00015 Construction Loan Orig. Fee (prorate)

16 Construction Loan Interest (prorate) 50,000 50,000

17 Construction Loan Credit Enhancement (prorate)

18 Construction Period Taxes (prorate) 4,000 4,000

19 Water, Sewer and Impact Fees 24,000 24,000

20 Survey 9,000 9,000

21 Property Appraisal 9,000 9,000

22 Environmental Report 9,000 9,000

23 Market Study 10,200 10,200

24 Bond Costs

25 Bond Issuance Costs

26 Placement Fee27 Permanent Loan Origination Fee

28 Permanent Loan Credit Enhancement

29 Title and Recording 10,000

SUBTOTAL (lines 14 through 29) 135,200

30 Real Estate Attorney 20,000 20,000

31 Other Attorney's Fees 20,000

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

33 Tax Credit Allocation Fee (0.58% of line 59, minimum $7,500) 31,514

34 Cost Certification / Accounting Fees 44,450 20,000

35 Tax Opinion 15,000

36 Organizational (Partnership) 10,000

37 Tax Credit Monitoring Fee 26,400SUBTOTAL (lines 30 through 37) 169,564

38 Furnishings and Equipment 20,000 20,000

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 20,000

44 Other Non-basis Expense (specify)

45 Other Non-basis Expense (specify)


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Comments:

SUBTOTAL (lines 38 through 45) 544,000

46 Rent up Reserve 20,000

47 Operating Reserve 150,000

48 Supportive Services Reserve 200,000

49 Other Reserve (specify)

50 DEVELOPMENT COST (lines 1-49) 4,909,904 0 4,179,600

51 Less Federal Financing52 Less Disproportionate Standard

53 Less Nonqualified Nonrecourse Financing

54 Less Historic Tax Credit (residential) 0

55 TOTAL ELIGIBLE BASIS 4,179,600 0 4,179,600

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

57 Basis Before Boost 4,179,600 0 4,179,600

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

59 TOTAL QUALIFIED BASIS 5,433,480 0 5,433,480

60 Tax Credit Rate 3.45 8.05

61 Federal Tax Credits at Estimated Rate 437,395 0 437,395

62 Federal Tax Credits at 8.5% or 3.75% 461,845 0 461,845

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 437,395 437,395

65 Land Cost 460,000

66 TOTAL REPLACEMENT COST 5,369,904

FEDERAL TAX CREDITS IF AWARDED 384,000

Project is in QCT so tax-credits awarded will be above $8,000/unit. Tax-credits before 130% boostare $7,010/unit.

Total Replacement Cost per unit: 94,081

Federal Tax Credits (line 62) per unit: 9,622


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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:

Market Study Information

Charlotte-Mecklenburg Housing Partnership, Inc (CMHP) proposes the development of KohlerAvenue Apartments ("Kohler") is a proposed 48 unit family apartment community on Kohler Avenueoff Statesville Avenue in the Druid Hills neighborhood. The census tract (i.e. tract 50) is a QualifiedCensus Tract as defined by HUD and thus qualifying for the 30% boost in tax credits. The proposed48 rental units will be located on the same site as 45 for sale townhome units. The for sale and therental phase of Kohler will receive funding from the City of Charlotte Housing Trust Fund. The TrustFund financing for the townhomes is anticipated to be approved by the Charlotte City Council in itsJanuary 2007 meeting. The mix of rental and homeownership builds upon the highly successfulmodel of the nearby Park at Oaklawn development. CMHP was the master developer of the Park atOaklawn.

The site has good accessibility to major thoroughfares, employment, shopping, public transportationand other services and is just minutes from downtown Charlotte. Kohler is located within the boundsof the approved Statesville Avenue Corridor Area Plan. This Plan was adopted by the Charlotte CityCouncil in 2001 and has spurred significant investment by the City of Charlotte, MecklenburgCounty, CMHP and others to improve the quality of life in the area. This investment has producedtangible results in the area in the form of dramatic crime reduction, new construction, infrastructureinvestment, street widening and resurfacing, sidewalk construction, code enforcement anddemolition and rehabilitation of existing structures. The Plan defined several Hot Spots within thearea in which additional investment was needed. The Kohler Avenue area was a defined Hot Spotdue to police calls for service to the structures that once existed on the site. CMHP with the City ofCharlotte financial assistance was able to acquire the units, relocate the remaining residents anddemolish the structures. This acquisition and relocation effort has resulted in a site with no existingstructures that has been successfully rezoned to enable the construction of the proposed apartmentcommunity.

The site is minutes from Downtown Charlotte and the future residents will benefit from surroundingnearby amenities including public schools, parks, libraries, health services and public transportation.In addition, the residents will benefit from swimming pools, community centers, restaurants, and anumber of places of worship. There are also an abundance of supportive services facilities availableto tenants within a two mile radius. Finally, the residents will benefit from a community center at theneighboring Park at Oaklawn HOPE VI community and a future park in the Druid Hills neighborhood.

The construction of Kohler Avenue Apartments will be largely based on architectuals used toconstruct Tyvola Crossing Apartments (2003 tax credit reservation). Exterior will be vinyl, brick andwood with decorative trim.

Yes

Tyvola Crossing Apartments4400 Block of West Tyvola Road

Charlote, NC 28216

The site will include the following: community building, community room, playground, picnic areawith tables and grilles, flag pole, sitting area, irrigated lawns, resident computer center with high-speed Internet access, television room and bike backs.


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Onsite Activities:

Landscaping Plans:

Interior Apartment Amenities:

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.

On-site activities will take place in the Community Building which will include a TV and a computercenter furnished with new computers and a printer with free high-speed internet access available toall residents. The property will host at least two community wide parties per year. The communitybuilding will also be available to be reserved by residents for birthday parties and othe events in theevening and on weekends.

The site will have attractive landscaping in a similiar fashion as the developers prior tax creditcommunities.

The interior amenities will include the following: Range, Hood, Dishwasher, Disposal, Refrigerator,Storage interior/exterior, Washer/Dryer Hookups, Mini-blinds, Pantry, Walk-in Closets, Carpet andVinyl Flooring and Central Air.

Yes


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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.In August 2003 the City of Charlotte Economic Development Division commissioned WarrenAssociates to conduct an economic development market study of the Statesville Avenue Corridor.The site for the proposed Kohler Avenue Apartments is located on the Statesville Avenue Corridor.The Report states the following about the corridor, "The Statesville Avenue Corridor extends for 2.5miles from North Graham Street to I-85. It represents the southernmost link between downtownCharlotte and the rapidly growing towns of Huntersville, Cornelius and Davidson in northMecklenburg County. Statesville Avenue merges with N. Graham Street less than one-quarter milenorth of I-277, the traditional boundary of downtown Charlotte. With a total of 55,000 professional

jobs, and the headquarters for Bank of America and Wachovia Corporation, downtown is the largestemployment center in the Charlotte region."

The Report goes on to state that other than the obvious benefit of downtown Charlotte proximity theCorridor has gained from the pace of public and private investment in the form of HOPE VI grantfunding to effect the demolition and renewal of the Park at Oaklawn, the widening of StatesvilleAvenue and CMHP's revitalization activity. These attributes of the area will help spawn additionalemployment opportunities in the area to compliment the existing employment centers.

CMHP's revitalization efforts on the site of Kohler Avenue Apartments and other areas in the DruidHills community have greatly improved the physical conditions of buildings in the area. To bring thesite to its current state, dilaidated structures on-site were demolished. This is in addition to a numberof rental units purchased and renovated by CMHP in the area with an additional 30 units to bedeveloped in the current year. CMHP was also the developer of the Gables at Druid Hills that isvisible from the site. The Gables is a stable elderly tax credit finance community that also serves asan amenity to the area by providing a meeting place for community activities.

As stated, Kohler Avenue Apartments will be located near the Gables at Druid Hills and the Park atOaklawn mixed-income communities. Both of these developments have been fully leased and havereached a point of stability. There is also a significant amount of other older and recently renovatedexisting affordable housing units within the Druid Hills neighborhood. CMHP's vast amount ofexperience in the area shows that demand for new affordable rental in the area greatly outstrips thesupply. In addition, rents will be structured to match the incomes of the area and to ensure lease upwithin a reasonable period of time.

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 similaroperations, sources of excessive noise, and sites with environmental concerns (such as odors orpollution). Amount and character of vacant, undeveloped land.The site for Kohler Avenue Apartments is urban and there are a good balance of uses surroundingthe site with the primary use being both homeownership and rental residential. The balance andvariety of uses will only be enhanced as the revitalization efforts along the Statesville AvenueCorridor continues. The industrial uses around the site are limited with the primary industrial usedbeing the Eckerd Corporation distribution facility on Statesville Avenue. Eckerd is also a largeemployer in the area. Since this is a urban location there is not a great deal of undeveloped landnear the 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.As stated, the City has invested in the widening of Statesville Avenue from two to four and five lanesin order to improve traffic flow. This widening has improved the traffic flow in the corridor. KohlerAvenue Apartments will add to the traffic count on Statesville but the widening efforts should beadequate to accommodate the additional traffic. It is also not anticipated that Kohler AvenueApartments will over-burden public facilities. The apartments will have good access to public transit.The Statesville Avenue Corridor is currently served by three bus lines: Route 26 (Oaklawn Avenue),Route 21 (Double Oaks) and Route 231. In addition, the site is minutes away from the CharlotteTransit Center which is the hub for all Charlotte area buses.


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

Other facilities or services:

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 significant physical barriers impeding construction.

Similarity of scale and aesthetics/architecture between project and surroundings.The landspacing and design detail of Kohler Avenue Apartments will be similiar to the Gables atDruid Hills and will enhance the Statesville Avenue Corridor with attractive and affordable newhousing.

Grocery Store1.5 Community/Senior Center.7

Mall/Strip Center.5 Hospital3

Outdoor Athletic Fields.25 Pharmacy2

Day Care/After School.5 Basic Health Care2

Schools.25 Medical Offices2

Public Transportation Stop.05 Bank/Credit Union.7

Convenience Store.5 Restaurants.5

Basketball/Tennis Courts.25 Professional Services1

Public Parks.5 Movie Theater1.5

Gas Station.7 Video Rental3

Library1.5 Public Safety (Fire/Police)1.2

Fitness/Nature Trails.25 Post Office1.1

Public Swimming Pools.5

See attached amenities map for additional amenities near the site.


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Project Operations (Year One)

Projected Operating Costs

Administrative Expenses

Advertising 1,200

Office Salaries 0

Office Supplies 1,000

Office or Model Apartment Rent 0

Management Fee 23,616

Manager or Superintendent Salaries 21,800

Manager or Superintendent Rent Free Unit 0

Legal Expenses (Project) 2,500

Auditing Expenses (Project) 6,500

Bookkeeping Fees/Accounting Services 2,500

Telephone and Answering Service 5,000

Bad Debts 6,000

Other Administrative Expenses (specify):

Training, fire equipment monitoring, recreational3,300

SUBTOTAL 73,416

Utilities Expense

Fuel Oil 0

Electricity (Light and Misc. Power) 7,300

Water 7,300

Gas 0

Sewer 7,000

SUBTOTAL 21,600

Operating and Maintenance Expenses

Janitor and Cleaning Payroll 0

Janitor and Cleaning Supplies 0

Janitor and Cleaning Contract 1,500

Exterminating Payroll/Contract 700

Exterminating Supplies 0Garbage and Trash Removal 5,400

Security Payroll/Contract 300

Grounds Payroll 0

Grounds Supplies 0

Grounds Contract 12,000

Repairs Payroll 21,800

Repairs Material 2,000

Repairs Contract 4,000

Elevator Maintenance/Contract 0

Heating/Cooling Repairs and Maintenance 500

Swimming Pool Maintenance/Contract 0

Snow Removal 0Decorating Payroll/Contract 0

Decorating Supplies 0

Other (specify):0

Miscellaneous Operating & Maintenance Expenses 0

SUBTOTAL 48,200

Taxes and Insurance

Real Estate Taxes 33,145

Payroll Taxes (FICA) 4,400


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Miscellaneous Taxes, Licenses and Permits 0

Property and Liability Insurance (Hazard) 9,360

Fidelity Bond Insurance 0

Workmen's Compensation 2,400

Health Insurance and Other Employee Benefits 2,400

Other Insurance:0

SUBTOTAL 51,705Supportive Service Expenses

Service Coordinator 8,500

Service Supplies 0

Tenant Association Funds 0

Other Expenses (specify):0

SUBTOTAL 8,500

Reserves

Replacement Reserves 12,000

SUBTOTAL 12,000

TOTAL OPERATING EXPENSES 215,421

ADJUSTED TOTAL OPERATING EXPENSES(Does not include taxes, reserves and resident support services) * 161,776

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

48

PER UNIT PER YEAR 3,370


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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:

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 belowthirty 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%) ofcounty median income.

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

Kohler Avenue Apartments

Documents

Transcript of Kohler Avenue Apartments