Print Preview - Final Application: Project Name and Location
Print Preview - Final Application: Project Name and Location
Print Preview - Final Application: Project Name and Location
Page 1 of 34
Is project in Qualified Census Tract & Difficult to Develop area? No Does a community revitalization plan exist? No Political Jurisdiction: Jurisdiction Address: Jurisdiction City: Jurisdiction Phone: Town of Aberdeen Last: Mofield Title: Mayor 115 North Poplar St Aberdeen (910)944-7024 Zip: 28315
35.1334 -79.4412
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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? Yes If yes, list names of previous phase(s): Woodgreen Apartments, Aberdeen, NC Will the project be receiving project based 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 the units required by other federal and state codes.) Persons with disabilities or homeless populations: the greater of 5 units or 10% of the total units Remarks: Six of the units will be handicapped accessible. Five of the units will target disabled/homeless populations.
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Applicant Information
Applicant Name: Address: City: Contact: Telephone: United Developers, Inc. P.O. Drawer 42208 Fayetteville First: Murray (910)485-6600 State: NC Zip: 28309 Last: Duggins Title:
Alt Phone:
(910)485-6600
Fax:
(910)483-4274
Email Address:
butlers@united-realty-fay.com
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Site Description
Total Site Acreage: 4.16 Total Buildable Acreage: 4.16 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 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:
(b) Describe flood mitigation if the project 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? Yes If yes, specify the relationship: Nancy Duggins is 100% owner in NTD, LLC
Purchase Price:
(c) Enter the current expiration date of the option/contract to purchase: 12/31/2004 (D) Enter Purchase Price: 210,000
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Zoning
Present zoning classification of the site: R-10 Conditional 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:
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: Woodgreen II 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:
Woodgreen II/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
butlers@united-realty-fay.com
Org:
Duggins Family Limited Partnership Last Name: Duggins Function: General Partner
First Name: Murray Address: City: Phone: EMail: P.O. Drawer 42208 Fayetteville (910)485-6600
State: NC
Zip: 28309
butlers@united-realty-fay.com
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Unit Mix
The Median Income for Moore county is $55,600. Low Income Units Type Gdn Apt Gdn Apt Gdn Apt Gdn Apt Gdn Apt Gdn Apt Gdn Apt Gdn Apt # BRs Net Sq.Ft. 1 1 2 2 2 2 3 3 747 747 932 932 932 932 1161 1161 Total # Units 3 2 2 4 8 13 6 6 # Units 0 2 0 0 2 0 2 0 Monthly Rent 155 300 175 300 420 420 495 495 Electric Utility Allowance 50 50 70 70 70 70 100 100 Gas Other Mandatory Serv. Fees **Total Housing Exp. 205 350 245 370 490 490 595 595
Water/Sewer
Employee Units (will add to Low Income Unit total) Type # BRs Net Sq.Ft. Total # Units # Units Monthly Rent Electric Utility Allowance Gas Other Mandatory Serv. Fees **Total Housing Exp.
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 6 17375 44 Gross Monthly Rental Income 17375
Units 6
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: 49,136
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Notes ** 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 1 2 2 2 3 3 5 6 8 13 6 6
% percent of median income. 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 2.00 Term (Years) 30 20 Amort. Period (Years) 30 20 Annual Debt Service 39,702
Source Bank Loan RPP Loan Local Gov. Loan - Specify: RD 515 Loan RD 538 Loan - Specify: AHP Loan Other Loan 1 - Specify: Other Loan 2 - Specify: Other Loan 3 - Specify: Tax Exempt Bonds State Tax Credit(Loan) State Tax Credit(Direct Refund) Equity: Federal LIHTC Non-Repayable Grant Equity: Historic Tax Credits Deferred Developer Fees Owner Investment Other - Specify: Total Sources**
614,781
30
30
1,870,833
3,570,614
* "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. 74 Remarks concerning project funding sources: (Please be sure to include the name of the funding source(s))
Loans with Variable Amortization Please fill in the annual debt service as applicable for the first 20 years of the project life.
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RPP Loan Year: Amt: Year: Amt: 1 13710 11 15934 2 14128 12 15850 3 14512 13 15693 4 14857 14 15459 5 15162 15 15142 6 15422 16 14736 7 15635 17 14237 8 15796 18 13636 9 15903 19 12930 10 15950 20 12109
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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 Tax Credit Monitoring Fee 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 Cost Certification Accounting Fees Other Basis Expense (specify) Other Non-basis Expense (specify) Other Non-basis Expense (specify) SUBTOTAL (lines 36 through 43) 44 Rent up Reserve 351,000 13,200 340,000 5,000 340,000 5,000 26,400 91,159 6,000 6,000 18,759 97,000 46,000 46,000 5,000 12,000 5,000 6,000 5,000 4,000 5,000 12,000 5,000 6,000 5,000 4,000 60,000 60,000 2,713,448 134,200 47,400 142,000 76,848 75,000 134,200 47,400 142,000 76,848 75,000 1,903,000 1,903,000 335,000 335,000 TOTAL COST Eligible Basis 30% PV 70% PV 0
41 Rent-up Expenses
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94,807
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 Applicable Fraction (percentage of LI Units) 55 Basis Before Boost 56 Boost for QCT/DDA (if applicable, enter 130%) 57 TOTAL QUALIFIED BASIS 58 Tax Credit Rate 59 Federal Tax Credits at Estimated Rate 60 Federal Tax Credits at 8.5% or 3.75% 61 Federal Tax Credits Requested 62 Land Cost 63 TOTAL REPLACEMENT COST Comments:
3,360,614
3,207,448
0 3,207,448 100.00% 3,207,448 3,207,448 253,388 272,633 0 210,000 3,570,614 0 100% 0 100.00% 0 0.00% 0 0 3,207,448 100% 3,207,448 100.00% 3,207,448 7.90% 253,388 272,633
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Construction (check all that apply): Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches
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 Apartments 4131 Fescue Court Hope Mills, NC Crosswinds Green I & II 3415 Town St. Hope Mills, NC Longview Apartments 117 Longview Dr Fayetteville, NC Blanton Green I & II 1024 Lauren McNeil Loop Fayetteville, NC Rosehill West Apartments 1945 James Hamner Way Fayetteville, NC Raeford Green Apartments 300 W.Southern Ave. Raeford, NC Woodgreen Apartments 200 Bradford Dr. Aberdeen, NC Southview Green Apartments (under construction) Elk Road Hope Mills, NC Bunce Green Apartments (under construction) Bunce Road Fayetteville, NC River View Green Apartments (under construction) Riverview Court Roanoke Rapids, NC
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Palmer Green Apartments (under construction) Palmer Street Raeford, 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
Onsite Activities: Support Services Coordinator on staff. Woodgreen Phase II will share a community building with Phase I.
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? No If yes, please make sure to include the additional information in your pre-application packet.
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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). Appropriate stop signs and traffic lights are 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 on site 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. As with Phase I, the architectural design will be compatable with the existing homes and an asset to the community.
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For each applicable neighborhood feature, enter distance from project in miles. 2.5 2.7 .0 4 1.5 Grocery Store Mall/Strip Center Outdoor Athletic Fields Day Care/After School Schools 1 3.1 2.7 2.2 2.2 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 1.4 1.3 1.5 .0 1 3.5 .75 4.5 Convenience Store Basketball/Tennis Courts Public Parks Gas Station Library Fitness/Nature Trails Public Swimming Pools 1 1 3 3 2 1
Other facilities or services: (.0) The site is adjacent to Coloniel Heights Park. Downtown Aberdeen is located 1.5 miles from the site.
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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.A. P.O. Box 17652 Raleigh (919)782-6472 State: NC Zip: 27619 Email: mrarch@intrex.net Last: Riley
Tuggle, Duggins & Mechan, P.A. P.O. Box 2888 Greensboro (336)271-5216 State: NC Zip: 27402 Email: bburgin@tuggleduggins.com Last: Burgin
Raymond James Tax Credit Funds, Inc. 880 Carillon Parkway St. Petersburg (800)438-8088 State: FL Zip: 33716 Email: cdescalzi@rjtcf.rjf.com Last: Descalzi
Consultant/Application Preparer (if different from developer) Company: Address: City: Phone Contact Name: First: State: Email: Last: Zip:
Identity of Interest? General Contractor Company: United Developers, Inc. Address: City: Phone P.O. Drawer 42208 Fayetteville (910)485-6600 State: NC Zip: 28309 Email: dlljd@aol.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: 24 920 6 176
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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4,000 1,200
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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
32,500 5,000
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136,200 61,425
53,412
8,013 1.15
* 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: Pennco Model: Series 2070
Type/Construction: Vinyl, Single Hung, Thermal Break, Tilt Sash Exterior Doors Type: Peachtree Steel Hardi-Plank & Brick Veneer and/or .044" Type: vinyl siding and trim. Warranty: 50 Year Exterior Trim Shingles Pro Trim/Hardi Plank and/or vinyl trim Type: Asphalt Warranty: 30 Year Architectural Sprinkler System Cabinets Heat Pump Tri-Pak Composit 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 8,883 15,463 48,955 4,935 16,515 58,956 20,162 0 32,305 41,783 0 60,075 40,335 42,441 17,766 11,844 500 0 3,948 0 0 0 0 0 0 0 0 LABOR 15,134 0 46,718 0 6,909 22,240 28,820 111,925 MATERIAL 8,817 0 38,229 0 5,922 34,335 33,821 181,767 77,419 7,896 18,292 46,257 12,831 4,606 44,152 5,593 24,807 39,283 70,668 0 48,432 34,217 0 85,145 53,495 69,814 41,454 11,845 5,000 0 9,212 0 0 0 0 0 TOTAL 23,951 0 84,947 0 12,831 56,575 62,641 293,692 77,419 7,896 18,292 46,257 21,714 20,069 93,107 10,528 41,322 98,239 90,830 0 80,737 76,000 0 145,220 93,830 112,255 59,220 23,689 5,500 0 13,160 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 Rental Other 1 (specify in Remarks) Other 2 (specify in Remarks) Total Cost Remarks: 1. Driveway/Sidewalk/Porch 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 Office Supplies Security/Watchman Project Signage Tools and Equipment Gas, Oil, and Maintenance 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: 1. Water & Sewer Connection Fees & Dumpster Rental 134,200 TOTAL 75,633 5,365 0 11,650 0 2,755 0 4,553 0 9,250 4,555 5,365 0 0 0 0 15,074
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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 Dumpster Pads/Fencing Fencing/Gates Landscaping/Topsoil Rock and Hardpan Excavation Site Supervision Personnel Other (specify in Remarks) Total Cost Remarks: 335,000 TOTAL 0 92,520 0 27,880 6,080 0 0 0 33,720 6,960 82,296 0 3,200 1,400 6,784 0 74,160 0
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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: 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.
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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Print - APP04-0068
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J Local Government Letter Confirming Zoning (original on letterhead, no fax or photocopies) K Copy of certificate of occupancy or proof of placed-in-service date (Rehabs Only) L Site plan, floor plans and elevations M Hazard and structural inspection and termite reports (Renovation projects only) N Anticipated budget demonstrating how the project would meet the 10% test by November 14th. O Evidence of Architect's Errors and Omissions insurance (or equivalent). P Description of acquisition for existing/occupied projects or for projects with occupied buildings to be demolished. Q Description of proposed Relocation Plan & Relocation Budget, Etc. If any relocation is anticipated, reference Appendix F. R Targeting Plan and supporting documentation (Required for all projects) S Local Housing Authority Agreement (Reference Model in Appendix I) T Appraisal (for land costs greater than $5,000 and for buildings in rehab projects) U Evidence of Permanent Loan Commitment, other sources of funds, and project-based subsidies. V Statement regarding terms of Deferred Developer Fee and, if nonprofit, resolution of Board approving fee. W Inducement Resolution (Tax-Exempt Bond Financed Projects only) X Documentation to support estimated utility costs.
https://www.nchfa.org/Rental/RTCApp/(n1olbp553szfk32wuzdayr45)/site/PrintApp.aspx?... 1/14/2005