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01-2011-AHFA-Streetsboro-Family-Homes_FINAL_10.14.10

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					                                                           2011

                                                Release Date August 24, 2010
                                                                                             Project Proforma
                       Transmittal Page                   Project Information                  Standard and
Instructions
                                                                                               Basis Adjust


                                             OHFA
                                                                                Housing Credit
     Public Notification                    Program
                                                                                  Program
                                          Certification


                          Housing
                                                           Multifamily Bond
                      Development Loan                                                       Program Forms
                                                               Program
                          Program
             Project Proforma          Operating Budget
               Standard and            Worksheet - new
               Basis Adjust



Housing Credit
                                HDAP
  Program




             Program Forms




                                                          VOLUMN 1 POSTED TO THE WEBSITE 8/24/10
WEBSITE 8/24/10
                                                                                                                               Streetsboro Family Homes x


         INSTRUCTIONS AND DOCUMENT/NARRATIVE REQUIREMENTS
  Submission Guidelines and General Instructions for the
  2011 Affordable Housing Finance Application
  Applicants should use this 2011 Affordable Housing Funding Application to apply for Housing Credits,
  Housing Development Assistance Program (HDAP), Housing Development Loans (HDL), and the Multifamily
  Bond Program (MFBP)

  Applicants must provide all information to OHFA in electronic format on a CD or DVD.
  The only paper documents that will be accepted are those that require an original signature.
  They are noted in the chart below in red.

  All applicants must submit the following:
  All documents in their required electronic formats on a CD or DVD in a standard sized CD case, with the project name
  written on the disk. (Please do not use stickers on the disks as this may cause the disk to lodge in the drive.) A list of
  required documents follows these instructions.

  A standard size pocket folder with the documents that require original signatures. All documents must be on white
  standard sized (8.5x11) paper. Please do not bind, staple or hole punch any of this documentation.

  A standard size report folder with documents for OHFA’s site visit:
       - Two contacts, their cell phone numbers, a list of the members of the development team and CHDO status;
       - A copy of the narrative description of the project;
       - One MapQuest-type map showing the location and address or crossroads
       - A site plan and all building elevations

  A check or money order made payable to the Ohio Housing Finance Agency.
       - Indicate the project name somewhere on the check or money order.

  Hand deliver, courier or mail to
  Ohio Housing Finance Agency
  Office of Planning, Preservation & Development
  57 East Main Street
  Columbus, OH 43215

  Completed proposals are due by Thursday October 14, 2010
  and must be received in the OHFA office by 4PM that day.




   Instructions on using this AHFA

   All information should be entered into the blue and red outlined cells. Enter words or numbers into the BLUE
   outlined cells. RED outlined cells are restricted to the dropdown menu attached to the cell. The GREEN
   outlined cells contain the spreadsheet formulas; they are locked.

   DO NOT ATTEMPT TO BYPASS THE PROTECTIONS ON THESE SHEETS! This year,
   the data you supply will be read directly into our new project tracking system. If this
   AHFA is altered in any way, the program will reject it - and then we will reject your
   AHFA! Each project requires a new AHFA to be downloaded from the website. Do not
   copy AHFAs! Cutting and pasting data will alter the formats and will cause your
   application to be rejected.
   Reference Documents

   Please refer to the following documents, for specific qualification, procedure, and submission information for
   each program:

   Housing Credit: 2011 Housing Credit Qualified Allocation Plan (QAP)

   HDAP: Housing Development Assistance Program Guidelines

   HDLP: Housing Development Loan Program Guidelines - March 2009

   MFBP: Multifamily Bond Program Guidelines

   These documents can be found on the OHFA website at www.ohiohome.org

   If you have any questions regarding the above programs, you may contact the Office of Planning,
   Preservation & Development at (614) 466-0400 or through our web site at www.ohiohome.org.




Page 4 of 60
        2011 QAP                Items in light blue are to be submitted at the proposal stage. The other documents will be due at
CHECK
          Page       DOC #       a later date. Make sure you follow the file naming conventions for each document or document
 OFF
        Reference                                                              group.
                                Document/Narrative                          Format(s)                                  File Name
                              1 2011 AHFA                                   EXCEL file                                 01 2011AHFA (insert project name).xls
                                                                            PDF of copy of check and actual check with
               27             2 Application Fee                             Project Name in Originals Folder           02 appfee.pdf
                                Program Certifications (in this
                              4 AHFA)                                       PDF, Original Signed Copy                 04 programcert.pdf
           27-28              5 Evidence of Site Control                PDF                                           05 site.pdf
                                         Executed Option(s), Purchase
                                                 Contract(s), Leases(s)
                                                       Property Deed(s)
                                                  Other Documentation
           28-29              6 Zoning Documentation                        PDF                                       06 zoning.pdf
                                                     Local Zoning Letter
                                                 Other Documentation
                                Affirmative Fair Housing Marketing
                                Plan & Attachments (available on
               39             7 OHFA website)                        PDF                                              07 AFHM.pdf




           38-39              8 Conditional Financial Commitments PDF                                                 08 condfincommit.pdf
               39             9 Utility Allowance Information               PDF                                       09 utility.pdf
                                Certification of Conformity with
                                Local Consolidated Plan/CHIS
           39-40             10 (OHFA Form 004)                             PDF                                       10 conformplan.pdf
               42            11 Required Public Notifications               PDF                                       11 pubnotice.pdf
                                OPTIONAL drawings/info in
                                support of the "Distinctive"
                             12 Narrative in the Project
                                Information Section of this AHFA
                                                                                                                      12 distinctive.pdf
                                Architectural Plans and
               32            13 Specifications                              PDF                                       13 architectural.pdf
                                                     Typical Unit Plan(s)
                                                    Building Elevation(s)
                                                                Site Plan
                                                    Schematic Site Plan
                                                       Topography Map
                                                      Aerial Photograph
                                        Scope of Work for Rehabilitation
         32 (15-h)           14 Project History Narrative                   PDF                                       14 projhistory.pdf
               35            15 Approved Waiver Requests                    PDF                                       15 appwaiver.pdf
                                2011 Development Features
                                Agreement (available on OHFA
               41            16 website)                                    PDF, Original Signed Copy                 16 devfeatures.pdf
                                Contents of Site Visit Folder (see
                             17 above)                                      PDF                                       17 sitevisitfolder.pdf
                                Universal Design Narrative and
          41, 80             18 accompanying documentation                  PDF                                       18 UD.pdf
                                Development Team Resumes and
               17            19 Experience                                  PDF                                       19 devteam.pdf
               32            20 Mini-Phase I                                PDF                                       20 miniphase.pdf
               32            21 Environmental Review                        PDF                                       21 ER.pdf
               35            22 Market Study                                PDF                                       22 markstudy.pdf
                                                            Market Study
                                    Market Study Checklist (OHFA form
                                                                    002)
                                  Market Study Certification (OHFA form
                                                                    003)
                                               Public Housing Authority
                                                  Notification/Concerns
               42            23 Capital Needs Assessment                                                              23 capneeds.pdf

               16            24 Competitive Evaluation Narrative            PDF                                       24 competitive.pdf
                                                      Policy Statements
                                             Project Design & Amenities
                                                       Project Amenities
                                                 Site Location & Quality
                                                    Development Team
                                                      Market Criteria
                                Non-Profit Organization
                             25 Documentation                         PDF                                             25 nonprofdocs.pdf

                                  IRS Letter of Determination of Status
                                  Articles of Incorporation & By-Laws of
                                                           the Non-Profit




Page 5 of 60
                          Ohio Secretary of State Documentation
                         Target Pool Eligibility
                      26 Documentation                          PDF                                      26 targetpool.pdf
         31 (11-14)   27 Supportive Service Plan                  PDF                                    27 supportserv.pdf
          31 (13)     28 Lease-Purchase Strategy                  PDF                                    28 LP.pdf
                         Documentation for Historic
                      29 Buildings                                PDF                                    29 historic.pdf

               16     30 Green Communities Documentation PDF                                             30 green.pdf
                         Documentation of Community
               25     31 Revitalization Plan             PDF                                             31 revitalization.pdf
                                  Community Revitalization Plan
                                  Narrative of Revitalization Plan
                                               Evaluation Criteria
                         Documentation of Leveraging
                      32 Federal Resources                         PDF                                   32 leveraging.pdf


                         HDAP Gap Financing
                         Documentation                            if you are applying for HDAP funding
                      34 Audited Financial Statements             PDF                                    34 audfinstate.pdf
                      35 Organizational Charts                    PDF                                    35 orgchart.pdf
                      36 Qualified Cost Estimate                  PDF                                    36 costest.pdf
                         Evidence of Attempt to Secure
                      37 Local Funding                            PDF                                    37 locfund.pdf
                      38 Letters of Local Support                 PDF                                    38 locsupport.pdf
                      39 Non-Profit Board Resolution              PDF                                    39 nonprofres.pdf
                         Uniform Relocation Act Forms and
                      40 Documentation                            PDF                                    40 relocation.pdf
                         Evidence of Submission to Local
                      41 Clearinghouse                            PDF                                    41 clearinghouse.pdf
                      42 Lead-Based Paint Plan                    PDF                                    42 lead.pdf
                         Homeownership Counseling
                      43 Documentation                            PDF                                    43 counseling.pdf

                         Housing Development Loan
                         Program Specific Documentation           if you are applying for HDLP funding
                      44 Statement of Public Purpose              PDF                                    44 pubpurpose.pdf
                      45 Fair Market Rent Schedule                PDF                                    45 fairmarketrent.pdf
                         Current Rent Roster (for occupied
                      46 properties)                              PDF                                    46 rentroster.pdf
                         Tax Information Authorization
                      47 Disclosure(s)                            PDF                                    47 taxauth.pdf
                         Multifamily Bond Program Specific
                         Documentation                            if you are applying for MFBP funding

                         Letter of Intent from Guarantor or
                      48 Private Placement Entity                 PDF                                    48 letterofintent.pdf
                         Inducement and Indemnity
                      49 Agreement Letter                         PDF                                    49 inducement.pdf
                         ANSI Standards Letter from
                      50 Architect                                PDF                                    50 ANSI.pdf
                      51 Prevailing Wage Statement                PDF                                    51 prevailing.pdf
                         Source for Building Value & LTV
                      52 Ratio                                    PDF                                    52 LTV.pdf
                      53 Audited Financial Statements             PDF                                    53 Audfinstate.pdf
                      54 Audited Project Cash Flows               PDF                                    54 cashflow.pdf
                      55 Rent Rolls                               PDF                                    55 rentrolls.pdf




Page 6 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                    Streetsboro Family Homes


                                                 Transmittal Page
       Project Tracking Number:                                                           (leave blank)


       Date Application Submitted:                                     10/14/10

       Applicant Information:

                          Project Name:       Streetsboro Family Homes                                    YES
                           Project Type:                  nc                                              NO
                      City or Township: Streetsboro
                                County: Portage

                        Majority Owner: PIRHL Streetsboro GP Corp.
                           Owner Type:                  FP
                        % of Ownership:               100.00%

                      Allocation Pool:                     General Pool                   RURAL DEVELOPMENT POOL


                Number of Total Units                            28

   Number of Special Needs Units:
                                    Senior                    #VALUE!      Family
 Persons w/ Mobility or Sensory Impairment
Persons w/ Severe/Persistent Mental Illness
      Persons w/ Developmental Disability
    Extremely Low Income (>= 35% AMGI)                          4.0012
              Formerly Homeless Persons

          Scattered Site Development?                             No

       Funding Requested:

               Housing Credit Program (annual): $                             596,729
        Housing Development Assistance Program $                              550,000

               Housing Development Loan Program:
                                Seed Money Loan:            $                         -
                        Construction Deposit Loan:          $                         -
                               Equity Bridge Loan:          $                         -
                                      Direct Loan:          $                         -
                                  Loan Guarantee:           $                         -

                          Multifamily Bond Program:         $                         -

       Application Status:

       Please check all that apply. Abbreviations are as follows: HC = Housing Credit; MFBP = Multifamily Bond Program;
       HDLP = Housing Development Loan Program; HDAP = Housing Development Assistance Program)

                                                                 HC           MFBP          HDLP            HDAP
                                 Initial Application:            Yes                                         Yes
                    Request for Additional Funding:
                               Revised Application:

       Application Fees:
                                                                  HC          MFBP          HDAP
                                    Amount Enclosed:            $2,000




Page 7 of 60                                                                                                              Revised February 13, 2009
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                     Streetsboro Family Homes


                                                Transmittal Page
       Additional Information (for revised applications only):                                         Please check all that apply.

                       Number of Units:                                          Rent Elections:
                         Type of Units:                                     Minimum Set-Aside:
                         Bedroom Mix:                                     Ownership Information:
                        Special Needs:                                      Other (describe below) :




Page 8 of 60                                                                                                               Revised February 13, 2009
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                                       Streetsboro Family Homes


                                                            Project Information
                                                                           PROJECT INFORMATION

                      Name:        Streetsboro Family Homes
         Address (be specific) :   Market Place Drive & State Route 303
           City or Township:       Streetsboro                          (Enter the political jurisdiction where the project is located)
                   Zip Code:       44241
                     County:       Portage
                 Submarket:                                                    (if applicable)
            Census Tract(s):       6004.01
                                   enter one census tract per cell
            Located in a Qualified Census Tract?                     No        Yes/No
                  Lease-purchase development?                        No        Yes/No
                                  Scattered Site?                    No        Yes/No                                                               See 2011 QAP for details.

         Briefly describe the project and its location(s), date of original construction (if applicable), project design, project amenities
         (including security systems and strategies), target population, development team members, financing, and project timeline.
                  Streetsboro Family Town Homes (“SFTH”) is proposed as a 28 unit general occupancy development located on


         Describe facets of this project that make it distinctive. The purpose of this section is to give the reviewer a fuller picture of the project that may not be
         conveyed elsewhere in this application. Be thorough, but succinct. Do not duplicate the information contained in the Competitive Evaluation Narrative.
         In addition, you may also submit any supporting drawings or details in (Optional) Document 12 (see document list on the instruction page.)


                Three primary features distinguish Streetsboro Family Homes from other applications competing within the Rural

         If any units (identified in this AHFA or anticipated to be included in this development) have been funded previously by any
         OHFA or ODOD program, describe the funding source(s) and the dates and amounts they received.
                                                                               n/a

                                                                          OWNERSHIP INFORMATION

       Name Of LLC or LLP:         Streetsboro Family Homes LP
                       c/o:        PIRHL LLC
                  Address:         4949 Galaxy Parkway, Suite S
                      City:        Warrensville Heights
                     State:        Ohio
                 Zip Code:         44128




                                     Type of Entity: Limited Partnership                                 Limited Partner Percentage of Ownership:             99.99%
                                   Federal Tax ID #: TBD

                                    Contact Person             Last Name:      Uram                                               First Name: David
                                                                     Title:    President                                           Salutation: Mr.
                                                              Organization:    PIRHL LLC
                                                              Telephone #:     (216) 378-9690        (ext)                        E-mail: duram@pirhl.com
                                                                    Fax #:     (216) 378-9691                           Web Page Address: www.pirhl.com
         The Contact Person must be able to answer all questions concerning this application.

                                 Authorized Signer             Last Name:      Uram                                               First Name: David
                                                                     Title:    President                                           Salutation: Mr.
                                                              Organization:    PIRHL LLC
                                                              Telephone #:     (216) 378-9690        (ext)                        E-mail: duram@pirhl.com
                                                                    Fax #:     (216) 378-9691                           Web Page Address: www.pirhl.com

         The Authorized Signer must have the authority to act on behalf of the project ownership.


                                           PARTICIPATION OF NON-PROFIT ORGANIZATION(S) if applicable

         Primary Non-Profit Organization                                                                                     Contact Person

            Non-Profit Name: n/a                                                                        Last Name:
                   Address:                                                                             First Name:
                        City:                                                                                  Title:
                       State:                                                                          Telephone #:                                 (ext)
                  Zip Code:                                                                                   Fax #:
        State Senate District:                                                                               E-mail:
        State House District:                                                                     Web Page Address:




Page 9 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                      Streetsboro Family Homes


                                                       Project Information
                                501 (c) (3) Organization         PROJECT INFORMATION
                                501 (c) (4) Organization
                                Exempt purposes include fostering of Low-Income Housing
                                Filed in accordance with ORC Section 1702
                                Other:
                FALSE

         Is this non-profit organization located in or committed to serve the county in which the project is located?

                                Yes/No

         How many years has this non-profit organization continually served the county in which the project is located?


         What percentage of the general partner interest will be owned or controlled by this non-profit organization?


         Is this organization eligible for and will this organization participate in the non-profit set-aside referenced in
         Section 42(h)(5) of the Internal Revenue Code?

                                Yes/No


         Is this non-profit organization certified as a Community Housing Development Organization (CHDO) by the State of Ohio?

                                Yes/No

         Secondary Non-Profit Organization                                                                          Contact Person

             Non-Profit Name: N/A                                                                Last Name:
                    Address:                                                                     First Name:
                         City:                                                                          Title:
                        State:                                                                  Telephone #:                         (ext)
                   Zip Code:                                                                           Fax #:
         State Senate District:                                                                       E-mail:
         State House District:                                                             Web Page Address:


                                501 (c) (3) Organization                              (Please select all that apply)
                                501 (c) (4) Organization
                                Exempt purposes include fostering of Low-Income Housing
                                Filed in accordance with ORC Section 1702
                                Other:
                FALSE

         Is this non-profit organization located in or committed to serve the county in which the project is located?

                                Yes/No

         How many years has this non-profit organization continually served the county in which the project is located?


         What percentage of the general partner interest will be owned or controlled by this non-profit organization?


         Is this organization eligible for and will this organization participate in the non-profit set-aside referenced in
         Section 42(h)(5) of the Internal Revenue Code?

                                Yes/No


         Is this non-profit organization certified as a Community Housing Development Organization (CHDO) by the State of Ohio?

 FALSE                          Yes/No



                                                  PARTICIPATING MEMBERS OF OWNERSHIP ENTITY

         Majority Owner Information

                      Name: PIRHL Streetsboro GP Corp.                                              NP or FP?:            FP
         Parent Organization: PIRHL, LLC                                                            NP or FP?:            FP




Page 10 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                        Streetsboro Family Homes


                                                       Project Information
                   Address:     4949 Galaxy Parkway, Suite S          PROJECT INFORMATION
                       City:    Warrensville Heights                                      Contact Last Name:     Uram
                      State:    Ohio                                                      Contact First Name:    David
                  Zip Code:     44128                                                           Contact Title:   President
               Parent FTI #:                                                                    Telephone #:     (216) 378-9690  (ext)
          Web Page Address:     www.pirhl.com                                                           Fax #:   (216) 378-9691
           % of Ownership:         100.00%                                                             E-mail:   duram@pirhl.com

          Years of Experience Developing Affordable Housing:                                         6

          Number of Housing Credit Projects Placed-in-Service:                    In Ohio:           3
                                                                           In other states:          6

          Number of Other Affordable Housing Projects Placed-in-Service:

          Experience with Development Loans and/or HDAP Financing?                                  Yes          Yes/No




          Please enter all applicable information in the spaces below for each project in which the owner (1) held at least 25% of the general partner interest
          and (2) was a material participant during the development of the project. All other projects in which the owner held an interest must be entered
          on the "Other Experience" (other_exp) tab in this application.

          Enter the date of approval or allocation of funding and status as follows: PIS (placed-in-service); UC (under construction); or W (withdrawn).
          OHFA programs include: Housing Credit; HDAP - Housing Development Assistance Program;
          HDLP (Housing Development Loan Program); and MFBP (Multifamily Bond Program).

                                                                           Name of GP      Housing Credit        HDAP              Other Programs
Project Name                   Tracking #                # of Units       & Parent Org.      Date/Status      Date/Status         Name/Date/Status
Greenway Senior Housing        05-0014                      52                                       2005 PIS,
                                                                        PIRHL Greenway LLC (25%); PIRHL, LLC 2007         LIHTC, HDAP - HOME
Gateway Town Homes             by name                      30                                       2006 PIS,
                                                                        PIRHL Gateway LLC (25%), PIRHL, LLC 2008          RHPP, Tax Abatement
Englewood Senior Housing       08-0039                      38                                       2008 LLC
                                                                        PIRHL Englewood LLC (49%), PIRHL,Closed, 2009     TCE gap; City HOME funds
Chambersburg Family Townhomes  TC-2007405                   40                                       2007 n/a
                                                                        PIRHL Chambersburg Townhomes LLC (49%), PIRHL, LLCARRA TCE; DCED; FHLB
Chambersburg Senior Housing TC-2008-612                     32                                       2008 n/a
                                                                        PIRHL Chambersburg Seniors LLC (49%), PIRHL, LLC TCE; DCED; PennHOMES; FHLB
Fairview Family Homes          TC-2008-611                  25                                       2008 n/a
                                                                        PIRHL Fairview LLC (49%), PIRHL, LLC              TCE; DCED; PennHOMES; FHLB
Library Court Senior Apartments09-0093                      44                                       2009 Closed,
                                                                        PIRHL Library Court LLC (100%), PIRHL, LLC 2010   TCE gap financing; County HOME
Euclid Corridor Senior Housing 09-0092                      48                                       2009 ARRA Step III
                                                                        PIRHL Euclid LLC (100%), PIRHL, LLC               TCE gap financing; City HTF
                               100020
St. John's Village West Family Homes                        40                                       2010 May
                                                                        PIRHL St. John's LLC (49%), PIRHL, LLC 2011 Close LIHTC, HDAP, City HTF




                                SEE 'OTHER EXPERIENCE' TAB FOR ADDITIONAL INFORMATION



If more space is needed, go to the "Extra Space" (extra_SP) tab in this application




          Second Owner Information                  (if applicable)

                      Name: n/a                                                                    NP or FP?:
         Parent Organization:                                                                      NP or FP?:
                    Address:
                        City:                                                             Contact Last Name:
                       State:                                                             Contact First Name:
                   Zip Code:                                                                    Contact Title:
                       FTI #:                                                                   Telephone #:
         Web Page Address:                                                                              Fax #:
           % of Ownership:                                                                             E-mail:

          Years of Experience Developing Affordable Housing:

          Number of Housing Credit Projects Placed-in-Service:                    In Ohio:
                             (projects with at least 5 units)              In other states:

          Number of Other Affordable Housing Projects Placed-in-Service:

          Experience with Development Loans and/or HDAP Financing?                                               Yes/No




Page 11 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                        Streetsboro Family Homes


                                                       Project Information
                                                                    PROJECT INFORMATION
          Please enter all applicable information in the spaces below for each project in which the owner (1) held at least 25% of the general partner interest
          and (2) was a material participant during the development of the project. All other projects in which the owner held an interest must be entered
          on the "Other Experience" (other_exp) tab in this application.

          Enter the date of approval or allocation of funding and status as follows: PIS (placed-in-service); UC (under construction); or W (withdrawn).
          OHFA programs include: Housing Credit; HDAP - Housing Development Assistance Program);
          HDLP (Housing Development Loan Program); and MFBP (Multifamily Bond Program).

                                                                            Name of GP        Housing Credit          HDAP                     Other Programs
Project Name                    Tracking #               # of Units        & Parent Org.       Date/Status          Date/Status               Name/Date/Status




If more space is needed, go to the "Extra Space" (extra_SP) tab in this application




          Third Owner Information                   (if applicable)

                      Name: n/a                                                                    NP or FP?:
         Parent Organization:                                                                      NP or FP?:
                    Address:
                        City:                                                              Contact Last Name:
                       State:                                                              Contact First Name:
                   Zip Code:                                                                     Contact Title:
                       FTI #:                                                                    Telephone #:                        (ext)
         Web Page Address:                                                                               Fax #:
           % of Ownership:                                                                              E-mail:

          Years of Experience Developing Affordable Housing:

          Number of Housing Credit Projects Placed-in-Service:                    In Ohio:
                             (projects with at least 5 units)              In other states:

          Number of Other Affordable Housing Projects Placed-in-Service:

          Experience with Development Loans and/or HDAP Financing?                                                Yes/No




          Please enter all applicable information in the spaces below for each project in which the owner (1) held at least 25% of the general partner interest
          and (2) was a material participant during the development of the project. All other projects in which the owner held an interest must be entered
          on the "Other Experience" (other_exp) tab in this application.

          Enter the date of approval or allocation of funding and status as follows: PIS (placed-in-service); UC (under construction); or W (withdrawn).
          OHFA programs include: Housing Credit; HDAP - Housing Development Assistance Program);
          HDLP (Housing Development Loan Program); and MFBP (Multifamily Bond Program).

                                                                            Name of GP        Housing Credit          HDAP                     Other Programs
Project Name                    Tracking #               # of Units        & Parent Org.       Date/Status          Date/Status               Name/Date/Status




Page 12 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                       Streetsboro Family Homes


                                                        Project Information
                                                                    PROJECT INFORMATION




If more space is needed, go to the "Extra Space" (extra_SP) tab in this application




                                                            DEVELOPMENT TEAM INFORMATION

                                       Developer:     PIRHL Developers LLC
                                         Address:     4949 Galaxy Parkway, Suite S
                                             City:    Warensville Heights
                                            State:    OH
                                        Zip Code:     44128                             Contact Last Name:        Uram
                                                                                        Contact First Name:       David
     # of Residential Projects Placed-in-Service:            9                                Contact Title:      Vice-President
                                                                                              Telephone #:        (216) 378-9690  (ext)
        # of Residential Units Placed-in-Service:           374                                       Fax #:      (216) 378-9691
                                                                                                     E-mail:      duram@pirhl.com
                   # of Years Developing Housing:            6                          Web Page Address:         www.pirhl.com


                             General Contractor:      PIRHL Contractors LLC
                                        Address:      4949 Galaxy Parkway, Suite S
                                            City:     Warensville Heights
                                           State:     OH
                                       Zip Code:      44128                             Contact Last Name:        Gore
                                                                                        Contact First Name:       Jack
           # of Residential Projects Constructed:            9                                Contact Title:      President
                                                                                              Telephone #:        (216) 378-9690     (ext)
                # of Residential Units Constructed:         374                                       Fax #:                 (216) 378-9691
                                                                                                     E-mail:      jgore@pirhl.com
                 # of Years Constructing Housing:            6                          Web Page Address:         www.pirhl.com

                 Project Types: single family homes, 2 and 3 story mid rise apartments, town homes


                                                  Firm                                Contact                         Phone #             Fax #
                 ENGINEER         mNeff & associates                     Matt Neff                                (216) 663-8820    (216) 663-8821
                ARCHITECT         RDL Architects                         Margaret Stanton                         216-752-4300      216-752-4301
              CONSULTANT          Ohio Capital Corporation for Housing   Brian Langmeyer                          614-224-8446      614-224-8452
                    LEGAL         Singerman, Mills, Desberg & Kauntz     Paul Singerman                           216-292-5807      216-292-5867
             TAX ATTORNEY         Squire, Sanders & Dempsey              Mike Saad                                614-365-2700      614-365-2499

          Describe how each organization will be involved in the project with respect to specific areas of responsibility, and how each
          organization will function as part of the development team, including the roles of the other members of the development team. Identify
          specifically what staff members will be involved in the project and their roles. Explain how this project will affect staff capacity, and
          explain how the organization will expand staff capacity if necessary. Briefly describe any "identities of interest" between members of
          the development team.
           Developer/Owner: PIRHL will act as the lead developer and General Partner for Streetsboro Family Homes and will provide


          MANAGEMENT COMPANY

                        Name:     Wallick Companies                                         Contact Last Name:    Daines
                      Address:    6880 Tussing Road                                         Contact First Name:   Bob
                          City:   Reynoldsburg                                                      Title:        Property Manager
                         State:   OH                                                         Telephone #:         (614) 552-5900    (ext)
                     Zip Code:    43068                                                            Fax #:                   (614) 322-8831
                                                                                                  E-mail:         bdaines@wallickcos.com
                                                                                        Web Page Address:         www.wallickcos.com


          Summary of Affordable Housing Management Experience

          Please indicate the number of affordable housing projects currently under management, and any Housing Credit projects previously managed
          for at least one year.




Page 13 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                                      Streetsboro Family Homes


                                                        Project Information
                    Program:       Housing Credit         USDA RD      PROJECT INFORMATION
                                                                          HUD Section 8  hdap                                     hdlp                 202               TOTAL
                # of Projects:          65                                          27                      5                                                              97
                   # of Units:        4,913                                        1,648                   241                                                           6,802


         Management Company Affordable Housing Experience

         Please list information for affordable housing projects currently under management, and any Housing Credit projects previously managedfor at least
         one year. Include all of the affordable housing programs associated with each project, using the following abbreviations:HC (Housing Credit); HDAP
         (Housing Development Assistance Program); HDLP (Housing Development Loan Program); MFBP (MultifamilyBond Program); RD (U.S. Dept. of
         Agriculture Rural Development); HUD (U.S. Dept. of Housing & Urban Development).

          Wallick-Hendy Properties is a diverse property management organization providing management services to most segments

                                                 PHYSICAL STRUCTURE INFORMATION

Project Type

         Yes                      New Construction

                                  Acquisition and Substantial Rehabilitation

                                  Substantial Rehabilitation

         Project Characteristics
                                                      rehabilitation         new construction
                       # of Residential Buildings:                                    7
                  # of Stories of Tallest Building:                                   2
                                  Total # of Units:                                   28

                             # of Parking Spaces:                                     60

                       Elevator in any buildings?              No            Yes/No

         Number of Units by Rental Type
                                                           NUMBER            % OF TOTAL UNITS
                                 Low-Income Units:                     28              100.00%
                                 Market-Rate Units:                     0                0.00%
                                   Employee Units:                      0                0.00%
                                           TOTAL:                      28              100.00%

         Number of    BUILDINGS by Building Type

                                                                                                                                                                        ENTER # OF
                                                       # of buildings that    # of buildings that    # of buildings that   # of buildings that   ELEVATOR in any of   UNITS IN EACH
                                                           are 1 Floor           are 2 Floors           are 3 Floors          are 4+ Floors        the buildings?     BUILDING TYPE
                         Single-Family Detached:                                                                       0
                        Single-Family Townhouse
                                         Duplex:
                                         Triplex:
                   Multi-Family (4 or more units):                                              7                      0                         No                                  28
                                           Other:
                                         TOTAL:                          0                      7                      0                     0                                       28

         Number of Units by Bedroom Number

                                         SRO              EFFICIENCY                  1BR                   2BR                   3BR                  4BR+
          Low-Income Units:                                                           0                      4                    24
          Market Rate Units:
                    TOTAL:                0                    0                      0                      4                    24                     0

         Detached Non-Residential Community Space

                                                       TOTAL SQUARE
                                       NUMBER              FEET
        Accessory Buildings:              1                  1400
        Recreation Facilities:                                                                      Type of Commercial Facilities (if applicable) :
       Commercial Facilities:


         Floor Area

                           Gross floor area of all building(s) (sq. ft.):                  37,208




Page 14 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                                     Streetsboro Family Homes


                                                             Project Information
                                                                   PROJECT INFORMATION
                                      Commercial floor area (sq. ft.):
                                   Common space floor area (sq. ft.):         1,400
                                  Non-low-income floor area (sq. ft.):
                               Total Residential Floor Area (sq. ft.):       37,208 Gross floor area minus Commercial floor area
                                Net Residential Floor Area (sq. ft.):        35,808 Total Res. floor area minus Common Space floor area
                                   Low-Income Floor Area (sq. ft.):          35,808 Net Res. floor area minus Non-Low-Income floor area
                           Average Net Residential Sq. Ft. per Unit :   1278.857143 Total Net Res. Sq. Ft. divided by Total # of Units

                                                                                   POPULATIONS SERVED

                                                                                                          % OF UNITS TO BE        SUPPORTIVE
              POPULATION(S)                                                                               OCCUPIED BY THIS         SERVICES
                 SERVED                                                                                     POPULATION            PROVIDED?


                                  Families/Individuals (seniors may reside there, but not exclusively a
                    Yes           senior development)                                                          100%          Yes
                    No            Exclusively Senior (at least 1 in household is 55 or older)   ---->            -

              SPECIAL NEEDS
             POPULATION SET-
                 ASIDES           Choose YES if the development specifically sets aside units for this population. Otherwise, choose NO


                    No            Persons with Mobility or Sensory Impairment-------------->                                 No
                                                                              ------------->
                                  Persons with Severe/Persistent Mental Illness

                                  Persons with Developmental Disability ------------------->

                    Yes           Extremely Low Income (>= 35% AMGI) ------------------>                       14%           Yes
                                  Formerly Homeless ---------------------------------->




       Service Coordinator: Family & Community Services, Inc.
                       Address: 705 Oakwood Street, Suite 221
                            City: Ravenna
                          State: OH                                                                          Telephone #: (330) 297-7027       (ext)
                      Zip Code: 44266                                                                                Fax #: (330) 296-2684
           Web Page Address: www.portagefamilies.org                                                                 E-mail: frisone@portagefamilies.org


           For projects seeking Housing Credits and serving a special needs population, service coordinators and a supportive
           service plan containing specified services are required. Please attach the supportive service plan with the application.



                                                            SITE & BUILDING ACQUISITION INFORMATION

           Site Roster

           Please list all sites under control at time of application. All sites must contain at least one unit, and must have a
           permanent parcel number listed. Sites that do not have parcel numbers will not be accepted. See the Housing Credit
           Qualified Allocation Plan for details regarding site control and scattered site projects.


           Please indicate the Qualified Census Tract (QCT) number for each site where applicable.
           For type of site control, indicate the following from the drop down memu: D = recorded deed; O = executed option; P = purchase contract;
           L = long term lease. For type of construction, please indicate the following: NC = new construction; R = rehabilitation.



                                                               permanent                                    type of site         type of        proposed # of
                          site address                          parcel #                   QCT #              control          construction         units
       1 Market Square Drive, Streetsboro, Ohio35-043-000-000-3010                       6004.01                 O                   NC                28                        28
       2                                                                                                                                                                          0
       3                                                                                                                                                                          0
       4                                                                                                                                                                          0
       5                                                                                                                                                                          0
       6                                                                                                                                                                          0
       7                                                                                                                                                                          0
       8                                                                                                                                                                          0
       9                                                                                                                                                                          0




Page 15 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                         Streetsboro Family Homes


                                                      Project Information
      10                                                          PROJECT INFORMATION                                                                                     0
      11                                                                                                                                                                  0
      12                                                                                                                                                                  0
      13                                                                                                                                                                  0
      14                                                                                                                                                                  0
      15                                                                                                                                                                  0
      16                                                                                                                                                                  0
      17                                                                                                                                                                  0
      18                                                                                                                                                                  0
      19                                                                                                                                                                  0
      20                                                                                                                                                                  0
      21                                                                                                                                                                  0
      22                                                                                                                                                                  0
      23                                                                                                                                                                  0
      24                                                                                                                                                                  0
      25                                                                                                                                                                  0
      26                                                                                                                                                                  0
      27                                                                                                                                                                  0
      28                                                                                                                                                                  0
      29                                                                                                                                                                  0
      30                                                                                                                                                                  0
      31                                                                                                                                                                  0
      32                                                                                                                                                                  0
      33                                                                                                                                                                  0
      34                                                                                                                                                                  0
      35                                                                                                                                                                  0
      36                                                                                                                                                                  0
      37                                                                                                                                                                  0
      38                                                                                                                                                                  0
      39                                                                                                                                                                  0
      40                                                                                                                                                                  0

                                                    new construction     rehabilitation                         new construction    rehabilitation
                        # of Sites Under Control:           1                 0                   # of Units:         28                    0


                  # of Sites Proposed to Acquire:           1


                       % of Sites Under Control:        100.00%             0.00%



           Site Acquisition Information


                                                    last placed-in-                                                                                     is the seller a
                       site address                 service date                    seller name                            seller address               related party?
       1 Market Square Drive, Streetsboro, Ohio                        MP Purchase Company LLC                                                           No
                                                                                                                14855 Broadway Ave, Maple Heights, oh 44137
       2 0
       3 0
       4 0
       5 0
       6 0
       7 0
       8 0
       9 0
      10 0
      11 0
      12 0
      13 0
      14 0
      15 0
      16 0




Page 16 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                      Streetsboro Family Homes


                                                         Project Information
      17 0                                                           PROJECT INFORMATION
      18 0
      19   0
      20   0
      21   0
      22   0
      23   0
      24   0
      25   0
      26   0
      27   0
      28   0
      29   0
      30   0
      31   0
      32   0
      33   0
      34   0
      35   0
      36   0
      37   0
      38   0
      39   0
      40   0

           Will this project consist of scattered sites?                         No          See 2011 QAP for details.




           Will the site be subdivided?                      No           Yes, No

           Area of Site (Acres):                                  4.372



                                                         OCCUPANCY INFORMATION if applicable

           Are any of the units currently occupied?

                    No             Yes, No
                                   % of units occupied

           Does this project involve the relocation of any commercial or residential tenants, or will any occupied portion of the project be made vacant?

                    No             Yes, No

           If Yes, please attach a Relocation Plan with the application. This plan must include a budget.
           URA forms must be submitted for those projects seeking funding from the HDAP Program.


                                                                  SCHEDULE OF DEVELOPMENT
                                                                                                      Performance Date
                  Activity                                                                          Goal           Actual
            1. Formation of Limited Partnership                                              March, 2011
            2. Land or Building acquired                                                     Sept., 2011
            3. Phase I Environmental Review                                                  June, 2011
            4. Zoning permit obtained                                                        March, 2011
            5. 10% completion                                                                Sept., 2011
            6. Appraisal completed                                                           July, 2011
            7. Building permits obtained                                                     July, 2011
            8. Construction loan committed                                                   June, 2011
            9. Permanent financing committed                                                 June, 2011
           10. Construction contract executed                                                June, 2011
           11. Construction loan closing                                                     Aug., 2011
           12. Equity closing                                                                Aug., 2012
           13. Site preparation and/or demolition begins                                     Sept., 2011
           14. Start of construction, contractor's commencement notice                       Sept., 2011
           15. 50% completion                                                                Mar., 2012
           16. Occupancy approval                                                            Sept.2012
           17. Permanent loan closing                                                        June, 2013
           18. Construction completion                                                       Sept., 2012




Page 17 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                      Streetsboro Family Homes


                                                  Project Information
                                                               PROJECT INFORMATION

         Estimated placed-in-service date:         First building:    09/12/12   Last building:   09/12/12

This is the official OHFA Form




Page 18 of 60
              Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                                     Streetsboro Family Homes x


            Project Proforma (Standard and Basis Adjust)
                                                  ANNUAL GROSS PROJECT INCOME CALCULATION

Include all low-income and market rate units in this section.
Applicants must complete all applicable information in the table below.
For Gross Rents, HDAP applicants must apply the HUD Low HOME Rent to HDAP restricted units.




            NUMBER                                     AFFORD-ABLE OCCUPIED                                                                   MONTHLY
NUMBER      OF BED-     NUMBER OF         SQUARE        TO WHAT %  BY WHAT %            TENANT PAID       RENTAL                               RENTAL         MAXIMUM
OF UNITS    ROOMS       BATHROOMS        FOOTAGE         OF AMGI    OF AMGI? GROSS RENTS UTILITIES        SUBSIDY         NET RENTS            INCOME       GROSS RENTS
   2           2              2            1032           30%         30%    $       500   $    133   $         200   $          567      $       1,134     $       438
   2           2              2            1032           40%         40%    $       575   $    133   $         125   $          567      $       1,134     $       584
   2           3              2            1320           30%         30%    $       500   $    163   $         400   $          737      $       1,474     $       505
   3           3              2            1320           40%         40%    $       670   $    163   $         230   $          737      $       2,211     $       673
   2           3              2            1320           50%         50%    $       840   $    163   $         60    $          737      $       1,474     $       842
   7           3              2            1320           50%         60%    $       840   $    163   $         60    $          737      $       5,159     $       842
   10          3              2            1320           60%         60%    $       840   $    163   $         60    $          737      $       7,370     $     1,010
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
                                                                                                                      $               -   $             -   $         -
       28                                                                                                 Monthly Rental Income:          $     19,956

                     # of years remaining on rental                                                Annual Net Rental Income:              $ 239,472
                   subsidy contract (if applicable):       15                                  Annual Residential Fee Income:
                                                                                                        Annual Other Income:              $             -




Page 19 of 60
            Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                             Streetsboro Family Homes x


        Project Proforma (Standard and Basis Adjust)
                                                                                                   Annual Commercial Income:    $        -

                                Vacancy Rate:      7.00%                                            Annual Vacancy Allowance:   $ (16,763)
                     First Year Vacancy Rate:     25.00%
                                                                                                       Gross Annual Income:     $ 222,709



                                                      PROJECT INCOME INFORMATION

                       Fee income source(s): n/a

                     Other income source(s): n/a

                Commercial income source(s): n/a

                    Rental subsidy source(s): The Portgage County Metropolitan Housing Authority will provide 28 Project Based Section 8 Vouchers to Streetsboro Family Homes. These vouchers will oper



                                                        ANNUAL PROJECT EXPENSES

         These cells will be filled in automatically from the Operating Budget Worksheet

                                         TOTAL ADMIN EXPENSES             $      37,296
                                        TOTAL UTILITY EXPENSES            $      17,920
                                    TOTAL OPER/MAINT EXPENSES             $      40,712
                                      TOTAL TAXES & INSURANCE             $      43,400
                               TOTAL OTHER FINANCING EXPENSES             $      14,000   (includes replacement reserves)

                            TOTAL ANNUAL OPERATING EXPENSES               $     153,328




If the total annual operating expenses do not meet OHFA requirements, please explain why.
                                                                 n/a

Describe any specific line items in the operating budget worksheet that may need further explanation.
        Tenants will not pay more than their prescribed Tax Credit rent. The project based Section 8 rental subsidy will cover the


Source of monthly utility expense information:




Page 20 of 60
             Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                                        Streetsboro Family Homes x


         Project Proforma (Standard and Basis Adjust)
Tenant-paid Utilities
        BR Type:         SRO              0 BR           1BR           2BR             3BR              4BR
            Heat:                                                  $         63   $          79
         Electric:                                                 $         70   $          84
          Water:
          Sewer:
          Trash:
 Other:     specify
        TOTALS: $                 -   $          -   $         -   $     133      $        163     $             -

Owner-paid Utilities
        BR Type:         SRO              0 BR           1BR           2BR             3BR              4BR
            Heat:
         Electric:
          Water:                                                   $         13   $          13
          Sewer:                                                   $         32   $          32
          Trash:                                                   $         19   $          19
 Other:     specify
        TOTALS: $                 -   $          -   $         -   $         64   $          64    $             -



                                             CONSTRUCTION FINANCING AND EQUITY SOURCES

All blanks pertaining to a source must be completed. Mark N/A if a space does not apply
                                                                                                       ANNUAL                                 AMORTI-
                                                                                                        DEBT         INTEREST                 ZATION
                                                     SOURCE NAME                      AMOUNT           SERVICE         RATE      TERM         PERIOD
                CONSTRUCTION LOAN     Key Bank                                    $    3,375,812   $             -    5.75%     24 months    interest only
                 TAX CREDIT EQUITY    Ohio Capital Corporation                    $     906,938
       HISTORIC TAX CREDIT EQUITY     n/a
                               HDAP   Housing Trust Funds                         $     550,000    $             -    3.00%        30             30
         DEFERRED DEVELOPER FEE       Streetsboro Family Homes LP                 $       2,894    $             -    3.00%        15             30
                  OTHER FINANCING     Deferred Expenses                           $    1,158,386
                  OTHER FINANCING
                                                                                  $    5,994,030   $             -
All blanks pertaining to a source must be completed. Mark N/A if a space does not apply


                                                 PERMANENT FINANCING AND EQUITY SOURCES

The Ohio Housing Finance Agency requires that all non-OHFA permanent source(s) be committed or conditionally




Page 21 of 60
              Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                                                       Streetsboro Family Homes x


         Project Proforma (Standard and Basis Adjust)
committed at the time of application.
If the project has Historic Tax Credits, do not combine the Historic Tax Credit and Housing Credit equity.

                                                                                                         ANNUAL                                               AMORTI-
                                                                                                          DEBT              INTEREST                          ZATION
                                                     SOURCE NAME                        AMOUNT           SERVICE              RATE             TERM           PERIOD
               PERMANENT LOAN (1st)     Key Bank - USDA 538 approved lender $             664,717             50181             5.75%                  25                   25
              PERMANENT LOAN (2nd)      n/a
                  TAX CREDIT EQUITY     Ohio Captial Corporation            $            3,488,223                                                                                       3488222.1
        HISTORIC TAX CREDIT EQUITY      n/a
                                 HDAP   Housing Trust Funds                 $             550,000    $              -           1.00%                  25                   30
          DEFERRED DEVELOPER FEE        Streetsboro Family Homes LP         $                   -                               3.00%                  25                   30
         SOFT FINANCING 1 (SPECIFY)     Portage County Housing Authority    $             150,000                               1.00%                  25                   30
         SOFT FINANCING 2 (SPECIFY)     GP Capital Contribution             $                 100                       n/a
       OTHER FINANCING 1 (SPECIFY)      Financial Gap                       $            1,140,990                      n/a
       OTHER FINANCING 2 (SPECIFY)
                                                                         TOTALS     $    5,994,030   $       50,181
All blanks pertaining to a source must be completed. Mark N/A if a space does not apply


                      CONSTRUCTION FINANCING AND EQUITY SOURCES (UP TO 130 % BASIS ADJUSTMENT)

All blanks pertaining to a source must be completed. Mark N/A if a space does not apply
                                                                                                         ANNUAL                                               AMORTI-
                                                                                                          DEBT              INTEREST                          ZATION
                                                     SOURCE NAME                        AMOUNT           SERVICE              RATE             TERM           PERIOD
                CONSTRUCTION LOAN       Key Bank                                    $    3,375,812   $              - 5.75%                24 months        interest only
                  TAX CREDIT EQUITY     Ohio Capital Corporation                    $     906,938
        HISTORIC TAX CREDIT EQUITY      n/a                                         $            -
                                 HDAP   Housing Trust Funds                         $     550,000    $              - 3.00%                            30               30
          DEFERRED DEVELOPER FEE        Streetsboro Family Homes LP                 $        2,894   $              - 3.00%                            15               30
                   OTHER FINANCING      Deferred Expenses                           $    1,158,386   $              -   $              -               15               30
                   OTHER FINANCING
                                                                                    $    5,994,030   $          -
All blanks pertaining to a source must be completed. Mark N/A if a space does not apply

                         PERMANENT FINANCING AND EQUITY SOURCES (UP TO 130% BASIS ADJUSTMENT)

The Ohio Housing Finance Agency requires that all non-OHFA permanent source(s) be committed or conditionally
committed at the time of application.
If the project has Historic Tax Credits, do not combine the Historic Tax Credit and Housing Credit equity.




Page 22 of 60
             Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                                               Streetsboro Family Homes x


         Project Proforma (Standard and Basis Adjust)
                                                                                                      ANNUAL                                           AMORTI-
                                                                                                       DEBT             INTEREST                       ZATION
                                                  SOURCE NAME                        AMOUNT           SERVICE             RATE         TERM            PERIOD
              PERMANENT LOAN (1st)   Key Bank - USDA 538 approved lender $             664,717    $      50,181 5.75%              $          25   $         25                 0.1108965
             PERMANENT LOAN (2nd)    n/a
                 TAX CREDIT EQUITY   Ohio Captial Corporation            $            4,534,688
       HISTORIC TAX CREDIT EQUITY    n/a
                              HDAP   Housing Trust Funds                 $             550,000    $             -   $          0   $          25   $         30
         DEFERRED DEVELOPER FEE      Streetsboro Family Homes LP         $              94,525    $             -   $          0   $          25   $         30
          SOFT FINANCING (SPECIFY)   Portgage County Housing Authority   $             150,000    $             -   $          0   $          25   $         30
          SOFT FINANCING (SPECIFY)   GP Capital Contribution             $                 100
        OTHER FINANCING (SPECIFY)
        OTHER FINANCING (SPECIFY)
                                                                      TOTALS     $    5,994,030   $      50,181
All blanks pertaining to a source must be completed. Mark N/A if a space does not apply

If this project is participating in the HUD Portfolio Reengineering Program ("Mark-to-Market"), enter the amount of soft
subordinate debt to be restructured by HUD under this program:                            $        -


Discuss any pre-development funding that is being provided to the project, including whether funds are in the form of a loan or a grant and the
expenses and activities covered by the pre-development funding.
           PIRHL LLC will provide loans to the project partnership as necessary to cover predevelopment and pre-construction

If the financial structure is anticipated to change during the life of the project, explain when and how this will occur.
                                                                               n/a


                                                    STABLE YEAR CASH FLOW CALCULATION

                                        Gross Annual Income:      $    223,609


                            Total Annual Operating Expenses       $    153,328



                                       Net Operating Income       $     70,281


                                  Primary Hard Debt Service       $     50,181
                                Secondary Hard Debt Service       $          -


                                 Cash Flow (Hard Debt Only):      $     20,100   Net Operating Income less Hard Debt Service


                                 Hard Debt Coverage Ratio:            1.40       Net Operating Income divided by Hard Debt Service




Page 23 of 60
             Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                                           Streetsboro Family Homes x


         Project Proforma (Standard and Basis Adjust)
                                             HDAP Debt Service           $          -
                                 Debt Service for Deferred Fees:         $          -
                                      Other Debt Service (Soft):         $          -


                                                Cash Flow (All Debt):    $     20,100   Net Operating Income less Hard and Soft Debt Service

                                  Overall Debt Coverage Ratio:               1.40       Net Operating Income divided by Debt Service




OHFA underwriting is based in part upon the analysis of a 15-year proforma, assuming a 2% annual increase in revenue
and a 3% annual increase in expenses.



                                      ITEMIZATION OF PROJECT COSTS AND ELIGIBLE BASIS (STANDARD)

All costs projected to be incurred by the project (eligible and ineligible) are to be listed under total costs.
Those costs to be included in eligible basis are to be broken out by acquisition, rehabilitation, and new construction.
For projects containing a mix of rehabilitation and new construction, eligible costs not directly attributable to the type
of construction (e.g. - most soft costs) may be classified into rehabilitation, new construction, or both,
at the applicant's discretion.

                                                                                                     Hard Construction Costs                   Soft Construction Costs



                                                                                                        HOUSING CREDIT ELIGIBLE BASIS - STANDARD
                                                                                               ACQUISITION                 REHABILITATION           NEW CONSTRUCTION
                                                                  TOTAL COSTS
                                                    Land:     $            550,000
                                        Land Broker Fees      $                  -
                                     Building Acquisition:    $                  -
                                   Demolition/Relocation      $                  -
                                 Off-Site Improvements:       $                  -
                                 On-Site Improvements:        $            588,000                                                              $                   588,000
                Hard Construction (Residential New Const.):   $          2,531,632                                                              $                 2,531,632
                Hard Construction (Residential Rehab.):       $                  -
                      Hard Construction (Commercial):         $                  -
                        Hard Construction (Fee Items*):       $                  -
                              Construction Contingency:       $             95,521                                                              $                        95,521
                                 Furnishings/Appliances:      $             92,400                                                              $                        92,400



Page 24 of 60
             Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                           Streetsboro Family Homes x


         Project Proforma (Standard and Basis Adjust)
                               General Requirements:        $          198,453                                                 $              198,453
                                 Contractor Overhead:       $           66,151                                                 $               66,151
                                     Contractor Profit:     $          198,453                                                 $              198,453
                                      Survey(s) Costs:      $           46,840                                                 $               46,840
                                    Architectural Fees:     $          115,000                                                 $              115,000


                                    Engineering Fees:       $            50,000                                                $               50,000
                              Construction Insurance:       $            35,000                                                $               35,000
                                 Construction Interest:     $           115,000                                                $              115,000
                           Construction Loan(s) Fees:       $            35,000                                                $               35,000
                            Permanent Loan(s) Fees:         $             6,613
                          Costs of TE-Bond Issuance:        $                 -                                                $                     -
                                                 Taxes:     $             5,000                                                $                 5,000
                                             Appraisal:     $             7,500                                                $                 7,500
                                         Market Study:      $             6,500                                                $                 6,500
                                Environmental Report:       $             9,600                                                $                 9,600
                       Housing Credit Application Fee:      $             2,000
                     Housing Credit Reservation Fee:        $            29,836
                          Compliance Monitoring Fee:        $            25,200
                            Rent-up Costs/Marketing:        $            40,000
                                     Title & Recording:     $            23,000
                  Legal Fees (not syndication related):     $            50,000                                                $               50,000
                                     Accounting Fees:       $            20,850                                                $               10,000
                        Developer's Fee & Overhead:         $           765,000                                                $              765,000
                                      Consultant Fees:      $                 -
                                **Organizational Fees:      $                 -
                              **Syndication Expenses:       $                 -
                                **Operating Reserves:       $           106,281
                            **Replacement Reserves:         $                 -
                               Other 1
                    Rental / Supportive Service Escrow      $           100,000                                                $                     -
                                Other landscape design
                 Energy * testing and 2                     $            11,200                                                $                11,200
                                 Other 3
                        Utility tap in and municipal fees   $            40,000                                                $                40,000
                               Other 4
                   Building Permit and Inspection Fees      $            28,000                                                $                28,000
                                             TOTALS:        $         5,994,030   $                    -   $               -   $             5,100,250

* - Fee items include things that tenants must pay a fee to use, such as garages, carports, pools, and recreation rooms.
** - Lower-tier (project) costs ONLY.
                                                                SOURCES AND USES BREAKDOWN (STANDARD)

                                                                                             SOURCES



Page 25 of 60
              Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                                                 Streetsboro Family Homes x


        Project Proforma (Standard and Basis Adjust)




                                                                                                                                                                                                  Financial Gap
                                                                                                                                                                         Contribution
                                                                                     Ohio Captial




                                                                                                                  Trust Funds
                                                                                     Corporation




                                                                                                                                    Streetsboro
                                            Total Line




                                                            Key Bank -




                                                                                                                                                                          GP Capital
                                                                                                                                     Homes LP
                                                            USDA 538
                                                            approved




                                                                                                                                                      Authority
                                                                                                                    Housing




                                                                                                                                                      Housing
                                                                                                                                                       Portage
                                                                                                                                                       County
                                                                                                                                       Family
                                                              lender
                                            Item from




                                                                           n/a




                                                                                                        n/a




                                                                                                                                                                                                                  0
                                              TOTAL
                                              COSTS
                      USES                    above
                                   Land:    $    550,000                         $         550,000
                      Land Broker Fees:     $           -                        $                  -
                    Building Acquisition:   $           -                        $                  -
                  Demolition/Relocation:    $           -                        $                  -
                 Off-Site Improvements:     $           -                        $                  -
                 On-Site Improvements:      $    588,000                         $         588,000
   Hard Construction (Res. New Const.):     $   2,531,632   $    664,717         $         940,825            $       550,000                                        $                  100   $         375,990
       Hard Construction (Res. Rehab.):     $           -                        $                  -
       Hard Construction (Commercial):      $           -                        $                  -
        Hard Construction (Fee Items*):     $           -                        $                  -
              Construction Contingency:     $     95,521                         $           95,521
                Furnishings/Appliances:     $     92,400                         $           42,400                                                   $     50,000
                 General Requirements:      $    198,453                         $         198,453
                  Contractor Overhead:      $     66,151                         $           66,151
                       Contractor Profit:   $    198,453                         $         198,453
                       Survey(s) Costs:     $     46,840                         $           46,840
                       Architectural Fees $      115,000                         $         115,000
                      Engineering Fees:     $     50,000                         $           50,000
                Construction Insurance:     $     35,000                         $           35,000
                   Construction Interest:   $    115,000                         $         115,000
             Construction Loan(s) Fees:     $     35,000                         $           35,000
              Permanent Loan(s) Fees:       $      6,613                         $             6,613
            Costs of TE-Bond Issuance:      $           -                        $                  -
                                  Taxes:    $      5,000                         $             5,000
                              Appraisal:    $      7,500                         $             7,500
                          Market Study:     $      6,500                         $             6,500
                  Environmental Report:     $      9,600                         $             9,600
         Housing Credit Application Fee:    $      2,000                         $             2,000
       Housing Credit Reservation Fee:      $     29,836                         $           29,836
            Compliance Monitoring Fee:      $     25,200                         $           25,200
              Rent-up Costs/Marketing:      $     40,000                         $           40,000
                      Title & Recording:    $     23,000                         $           23,000
    Legal Fees (not syndication related):   $     50,000                         $           50,000
                       Accounting Fees:     $     20,850                         $           20,850
          Developer's Fee & Overhead:       $    765,000                         $                  -                           $                 -                                           $         765,000




Page 26 of 60
             Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                                                              Streetsboro Family Homes x


        Project Proforma (Standard and Basis Adjust)
                       Consultant Fees:     $           -                            $                    -
                 **Organizational Fees:     $           -                            $                    -
                **Syndication Expenses:     $           -                            $                    -
                 **Operating Reserves:      $    106,281                             $              106,281
              **Replacement Reserves:       $           -                            $                    -
               Supportive Service Escrow $
      Rental / Other 1                           100,000                             $                    -                                                       $    100,000
              Other 2
   Energy * testing and landscape design $        11,200                             $               11,200
               Other in
          Utility tap 3 and municipal fees $      40,000                             $               40,000
              Other
     Building Permit4and Inspection Fees $        28,000                             $               28,000
                         SOURCE TOTALS:     $   5,994,030   $    664,717   $     -   $          3,488,223     $     -   $             550,000   $             -   $    150,000   $              100   $   1,140,990   $   -

                                                                                                                                                                                 GRAND TOTAL          $   5,994,030




                                     SOURCES AND USES BREAKDOWN (UP TO 130% BASIS ADJUSTMENT)


  Projects may receive an allocation of credits based upon 130% of the qualified basis for new construction or substantial rehabilitation. This increase in
                              basis will be approved based upon demonstrated financial need, on a project by project basis.

Provide details to justify the financial need for the increased basis.
           The project needs the basis boost because of low equity pricing and limited availability of additional gap

                                            SOURCES




                                                                                                                                                                                 Contribution
                                                                                     Ohio Captial




                                                                                                                        Trust Funds
                                                                                     Corporation




                                                                                                                                                Streetsboro
                                            Total Line
                                                            Key Bank -




                                                                                                                                                                                  GP Capital
                                                                                                                                                 Homes LP
                                                            USDA 538
                                                            approved




                                                                                                                                                                  Authority
                                                                                                                                                                  Portgage
                                                                                                                          Housing




                                                                                                                                                                  Housing
                                                                                                                                                                   County
                                                                                                                                                   Family
                                                              lender




                                            Item from
                                                                           n/a




                                                                                                              n/a




                                                                                                                                                                                                      0




                                                                                                                                                                                                                      0
                                              TOTAL
                                              COSTS
                      USES                    above
                                   Land:    $    550,000                             $              550,000
                     Land Broker Fees:      $           -                            $                    -
                    Building Acquisition:   $           -                            $                    -
                 Demolition/Relocation:     $           -                            $                    -
                Off-Site Improvements:      $           -                            $                    -
                 On-Site Improvements:      $    588,000                             $              588,000
   Hard Construction (Res. New Const.):     $   2,531,632   $    664,717             $          1,316,815               $             550,000                                    $              100
       Hard Construction (Res. Rehab.):     $           -                            $                    -
       Hard Construction (Commercial):      $           -                            $                    -
        Hard Construction (Fee Items*):     $           -                            $                    -
              Construction Contingency:     $     95,521                             $               95,521
                Furnishings/Appliances:     $     92,400                             $               42,400                                                       $     50,000




Page 27 of 60
              Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                                Streetsboro Family Homes x


        Project Proforma (Standard and Basis Adjust)
                 General Requirements:      $    198,453                          $    198,453
                  Contractor Overhead:      $     66,151                          $     66,151
                       Contractor Profit:   $    198,453                          $    198,453
                       Survey(s) Costs:     $     46,840                          $     46,840
                       Architectural Fees $      115,000                          $    115,000
                      Engineering Fees:     $     50,000                          $     50,000
                Construction Insurance:     $     35,000                          $     35,000
                   Construction Interest:   $    115,000                          $    115,000
             Construction Loan(s) Fees:     $     35,000                          $     35,000
              Permanent Loan(s) Fees:       $      6,613                          $      6,613
            Costs of TE-Bond Issuance:      $           -                         $           -
                                  Taxes:    $      5,000                          $      5,000
                              Appraisal:    $      7,500                          $      7,500
                          Market Study:     $      6,500                          $      6,500
                  Environmental Report:     $      9,600                          $      9,600
        Housing Credit Application Fee:     $      2,000                          $      2,000
       Housing Credit Reservation Fee:      $     29,836                          $     29,836
            Compliance Monitoring Fee:      $     25,200                          $     25,200
              Rent-up Costs/Marketing:      $     40,000                          $     40,000
                      Title & Recording:    $     23,000                          $     23,000
    Legal Fees (not syndication related):   $     50,000                          $     50,000
                       Accounting Fees:     $     20,850                          $     20,850
          Developer's Fee & Overhead:       $    765,000                          $    670,475                          $   94,525
                       Consultant Fees:     $           -                         $           -
                  **Organizational Fees:    $           -                         $           -
                **Syndication Expenses:     $           -                         $           -
                  **Operating Reserves:     $    106,281                          $    106,281
              **Replacement Reserves:       $           -                         $           -
               Supportive Service Escrow $
      Rental / Other 1                           100,000                          $           -                                      $    100,000
              Other 2
   Energy * testing and landscape design $        11,200                          $     11,200
               Other in
          Utility tap 3 and municipal fees $      40,000                          $     40,000
              Other
     Building Permit4and Inspection Fees $        28,000                          $     28,000
                         SOURCE TOTALS:     $   5,994,030   $   664,717   $   -   $   4,534,688   $   -   $   550,000   $   94,525   $    150,000   $        100   $           -   $   -
                                                                                                                                                    GRAND TOTAL    $   5,994,030


                                                                   PROJECT COST NARRATIVES

Describe the provisions made for project reserves, including operating reserve, replacement reserve, lease-up reserve,
and any lender reserve. Provide the assumptions used to estimate the reserve needs.
          Capitalized operating reserves are equal to nine months operations plus reserves. The deveopment has also capitalized




Page 28 of 60
            Ohio Housing Finance Agency 2010 Affordable Housing Funding Application                                                                     Streetsboro Family Homes x


        Project Proforma (Standard and Basis Adjust)
Describe any specific line items in the Itemization of Project Cost proforma that may need further explanation.
                                                                           n/a



                                                                PROJECT COST CALCULATIONS

             Total Development Cost per Unit:          $      189,734 Total Project Costs (less land, commercial hard construction, compliance
                                                                         monitoring fee, operating reserves, replacement reserves, & residential
                                                                         historic rehabilitation tax credit amount) divided by total number of units.


Dev. Fees and Overhead + Consultant Fees %             $      765,000    Not to exceed 15% of Rehabilitation and New Construction Eligible Basis plus
                                                                         5% of Acquisition Eligible Basis.
                                                                                        --- OR ---
                                                       $      765,000 Not to exceed 15% of Rehabilitation and New Construction Eligible Basis plus 10%
                                                                         of Acquisition Eligible Basis (for prop. transfers requiring HUD approval).


                     General Requirements %                      6.00%   General Requirements/Hard Construction Costs

                       Contractor Overhead %                     2.00%   Contractor Overhead / Hard Construction Costs

                             Contractor Profit %                 6.00%   Contractor Profit / Hard Construction Costs

                             Total Soft Cost %:                35.06%    Total Soft Costs (less: construction insurance, interest, & loan fees;
                                                                         housing credit application, reservation, & monitoring fees; and operating
                                                                         & replacement reserves) / by Total Housing Credit Eligible Basis.

                  Hard Construction Costs for Rehab:   $             -   Sum of rehabilitation costs for residential hard construction, on-site
                                                                         improvements, construction contingency, furnishings and appliances.

            Rehab Hard Construction Cost %:                #DIV/0!       Hard Construction Cost for Rehabilitation divided by
                                                       $             -   Total Project Cost (less land).




Page 29 of 60
               Ohio Housing Finance Agency 2011 Affordable Housing Funding Application           Streetsboro Family Homes


                    Annual Operating Budget Worksheet
Name of Project                           Streetsboro Family Homes
Total Number of Units:                28
Net Rentable Square Footage:          35808


                           ANNUAL INCOME

                                              TOTAL PROJECT           PER UNIT
 Rental Income
Rent                                  $                    239,472    $ 8,553
Annual Residential Fee Income:        $                          -    $     -
Annual Other Income:                  $                          -
Annual Commercial Income:             $                          -
Other                                                               $    -
Annual Vacancy Allowance              $                    (16,763) $ (599)
TOTAL RENTAL INCOME                   $                    222,709 $ 9,151

 Financial Income
Interest Income                       $                           -   $     -
Interest from Reserve Accounts        $                           -   $     -
Other                                 $                           -   $     -
TOTAL FINANCIAL INCOME                $                           -   $     -

 Service Income
Laundry Revenue                       $                          -    $     -
Tenant Charges/Fees                   $                        900    $    32
Elderly Care/Service Delivery                                         $     -
Other 1                                                               $     -
Other 2                                                               $     -
Other 3                                                               $     -
TOTAL SERVICE INCOME                  $                        900    $    32

                    TOTAL INCOME $                         223,609    $ 7,986


                        ANNUAL EXPENSES
 Administrative Expenses

Advertising and Marketing             $                      1,400    $    50
Office Expenses                       $                      1,960    $    70
Administrative Salaries               $                     14,000    $   500
Telephone                                                             $     -
Management Fee                        $                     14,000    $   500
Management Salary                                                     $     -
Legal Expense                                                         $     -
Audit Expense                         $                       5,936   $   212
Accounting Fees                                                       $     -
Bad Debts                                                             $     -
Tenant Relations                                                      $     -
Misc. Administrative Expenses                                         $     -
Other 1 (type over cell to specify)                                   $     -
Other 2 (type over cell to specify)                                   $     -
Other 3 (type over cell to specify)                                   $     -
TOTAL ADMIN EXPENSES                  $                     37,296    $ 1,332



 Owner Paid Utilities for Common Areas and Units

Electricity                           $                      1,400    $    50
Water                                 $                      4,368    $   156             4368
Gas                                   $                      1,400    $    50
Sewer                                 $                     10,752    $   384            10752
Cable/Internet                                                        $     -
Other 1 (type over cell to specify)                                   $     -
Other 2 (type over cell to specify)                                   $     -
TOTAL UTILITY EXPENSES                $                     17,920    $   640

 Operating/Maintenance

Operating/maintenance Contracts       $                     15,400    $   550
Elevator                                                              $     -
Garbage/Trash Removal                 $                       2,100   $    75
Van Driver Payroll                                                    $     -
Janitor Payroll                       $                     11,200    $   400
Maintenance Payroll                                                   $     -
Maintenance Supplies                  $                       3,612   $   129
Painting and Decorating               $                       2,800   $   100
HVAC Maintenance                      $                       1,400   $    50
Snow Removal/Landscaping              $                       4,200   $   150
Vehicle Operation and Repairs                                         $     -
Rent Concessions/Incentives                            $     -
Extermination                                          $     -
Other 1 (type over cell to specify)                    $     -
Other 2 (type over cell to specify)                    $     -
Other 3 (type over cell to specify)                    $     -
Other 4 (type over cell to specify)                    $     -
TOTAL OPER/MAINT EXPENSES             $       40,712   $ 1,454

Taxes and Insurance

REAL ESTATE TAXES                     $       25,760   $   920
PAYROLL TAXES                                          $     -
PROPERTY/LIABILITYINSURANCE           $       14,000   $   500
FIDELITY BOND INSURANCE                                $     -
WORKERS COMPENSATION                  $        1,820   $    65
HEALTH INS/EMP BENEFITS               $        1,820   $    65
MISC TAXES/INSUR/LICENSE                               $     -
Other 1 (type over cell to specify)                    $     -
Other 2 (type over cell to specify)                    $     -
Other 3 (type over cell to specify)                    $     -
TOTAL TAXES & INSURANCE               $       43,400   $ 1,550

Other Financial Expenses (including replacement reserves)

Replacement Reserves                  $            -   $      -
Other 1 (supportive services)         $        2,800   $    100
Other 2 (Replacement Reserves)        $       11,200   $    400
TOTAL OTHER FINANCIAL EXPENSES        $       14,000   $    500

            TOTAL EXPENSES $                 153,328   $ 5,476

NET OPERATING INCOME                  $       70,281   $ 2,510
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                                                   Streetsboro Family Homes


                                                                   Public Notification
                                                         Elected Officials and Legislators Where Project is Located
         See program guidelines for specific instructions.


         If the project is located in a city or village, complete Part a;
         if the project is located in a township, complete Part b. All projects must complete Parts c, d and e.

             CITY OR VILLAGE Streetsboro

         Chief Executive Officer in which the project is located                          Clerk of the Legislative Body in which project is located
         Arthur Scott                                                                                               Caroline L. Kremer


                       TOWNSHIP N/A

         Clerk of the Board of Trustees in which proposed project is located
                                              N/A


                          COUNTY Portage

         Clerk of the Board of Commissioners in which the project is located
                                     Deborah Mazanec

         STATE REPRESENTATIVE


         State Representative in which the project is located                                        District
                                     Kathleen Chandler                                    68th

         STATE SENATOR

         State Senator in which the project is located                                               District
                                        Tom Sawyer                                        28th

                                     Elected Officials and Legislators For Jurisdictions Within 1/2 Mile of the Project

             CITY OR VILLAGE N/A

         Chief Executive Officer 1/2 mile from which proposed project is located          Clerk of the Legislative Body 1/2 mile from which proposed project is located




                       TOWNSHIP N/A

         Clerk of the Board of Trustees 1/2 mile from which proposed project is located




                          COUNTY N/A

         Clerk of the Board of Commissioners 1/2 mile from which proposed project is located




         STATE REPRESENTATIVE

         State Representative 1/2 mile from which proposed project is located             District




         STATE SENATOR

         State Senator 1/2 mile from which proposed project is located                    District




Page 32 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                                                   Streetsboro Family Homes


                                                                  Public Notification
                                    Elected Officials and Legislators For Jurisdictions Within 1/2 Mile of the Project

             CITY OR VILLAGE

         Chief Executive Officer 1/2 mile from which proposed project is located          Clerk of the Legislative Body 1/2 mile from which proposed project is located




                      TOWNSHIP

         Clerk of the Board of Trustees 1/2 mile from which proposed project is located




                          COUNTY

         Clerk of the Board of Commissioners 1/2 mile from which proposed project is located




         STATE REPRESENTATIVE

         State Representative 1/2 mile from which proposed project is located             District




         STATE SENATOR

         State Senator 1/2 mile from which proposed project is located                    District




                                    Elected Officials and Legislators For Jurisdictions Within 1/2 Mile of the Project

             CITY OR VILLAGE

         Chief Executive Officer 1/2 mile from which proposed project is located          Clerk of the Legislative Body 1/2 mile from which proposed project is located




                      TOWNSHIP

         Clerk of the Board of Trustees 1/2 mile from which proposed project is located




                          COUNTY

         Clerk of the Board of Commissioners 1/2 mile from which proposed project is located




         STATE REPRESENTATIVE

         State Representative 1/2 mile from which proposed project is located             District



         STATE SENATOR

         State Senator 1/2 mile from which proposed project is located                    District




Page 33 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                      Streetsboro Family Homes

                  2011 OHFA Program Certification
                                    An original executed OHFA Program Certification must be submitted
                                          for each general partner participating in the project

 The undersigned, having full power and authority to execute, deliver, perform, enter into and carry out the performance of this
 application, hereby represents and certifies under penalty of perjury that:

 To the best of his/her knowledge, all information contained within, attached to, and submitted with the 2011 Ohio Housing Finance
 Agency Affordable Housing Funding Application is true and complete, and accurately describes the proposed project;

 Any additional information requested by the Ohio Housing Finance Agency will be supplied by the undersigned in order for this
 application to remain valid;

 The undersigned affirmatively covenants that it does not owe (a) any delinquent taxes to the State of Ohio ("the State") or a
 political subdivision of the State; (b) any moneys to the State or a state agency for the administration or enforcement of any
 environmental laws of the State; and (c) any other moneys to the State, a state agency or a political subdivision of the State that
 are past due, whether the amounts owed are being contested in a court of law or not;

 The undersigned agrees that the Ohio Housing Finance Agency (including its agencies) will at all times be indemnified and held
 harmless against all losses, costs, damages, expenses, and liabilities whatsoever nature or kind (including, but not limited to
 attorney's fees, litigation, and court costs, amounts paid in settlement, and amounts paid to discharge judgment, and any loss from
 judgment from the Internal Revenue Service) directly or indirectly resulting from, arising out of, or related to acceptance,
 consideration, and approval or disapproval of such allocation and/or funding request.

 It is the responsibility of the undersigned and any of its employees, agents or sub-contractors in doing business with the Ohio
 Housing Finance Agency to adhere to and comply with all Federal Civil Rights legislation inclusive of the Fair Housing Laws,
 Section 504 of the Rehabilitation Act of 1973, the Americans With Disabilities Act as well as any state and local Civil Rights
 legislation along with any required related codes and laws. Should the Ohio Housing Finance Agency not specify any
 requirements, such as design, it is none the less the owners responsibility to be aware of and comply with all non-discrimination
 provisions relating to race, color, religion, sex, handicap, familial status, and national origin. This includes design requirements for
 construction or rehabilitation, Equal Opportunity in regard to marketing and tenant selection and reasonable accommodation and
 modification for those tenants covered under the Laws.

 The undersigned will unconditionally comply with all policies, rules, regulations, and guidelines of the Ohio Housing Finance
 Agency.

 The undersigned declares that notification pursuant to ORC Section 175.07 and program guidelines has been made. The
 undersigned assumes full responsibility for notification and agrees to hold the OHFA harmless for notification requirements.

 If applying for the Housing Credit Program, the following additional conditions will apply:

 The undersigned is responsible for ensuring that the project consists or will consist of a qualified low-income building or buildings
 as defined in the Internal Revenue Code, Section 42, and will satisfy all applicable requirements of federal tax law in the
 acquisition, rehabilitation, or construction and operation of the project to receive low-income housing tax credits.

 If applying for the Housing Development Loan Program, the following additional conditions will apply:

 The undersigned is responsible for the provision of ORC 175, the pertinent Administrative Rules, and OHFA Loan Guidelines.

 The undersigned certifies that this project can proceed only "but for" the receipt of the Housing Development Loan.

 If applying for the Housing Development Assistance Program (HDAP), the following additional conditions will apply:

 The undersigned has full power and authority to execute, deliver, perform, enter into and carry out the performance of this proposal
 according to the undersigned's charter, by-laws, and/or articles of incorporation;

 The undersigned has read, understood and will abide by the current HDAP guidelines.

 The board of the non-profit organization has passed a resolution authorizing submission of this request for funding to the Ohio
 Housing Finance Agency, and a copy of this resolution is attached.




Page 34 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                    Streetsboro Family Homes

                  2011 OHFA Program Certification
                                     An original executed OHFA Program Certification must be submitted

IN WITNESS WHEREOF, the undersigned has caused this document to be duly executed in its name on

                          this                           day of




                                 Streetsboro Family Homes LP
                                 Legal Name of Actual or Proposed Ownership Entity




                  BY:
                                 Authorized Signator - General Partner


                                 David J. Uram
                                 Print Name


                                 President
                                 Title


                                 Streetsboro Family Homes GP Corp.
                                 Organization



           STATE OF                                                       :
                                                                          :   ss:
           COUNTY OF                                                      :

           BEFORE ME, a Notary Public in and for said County and State, personally appeared the above-named

                                                                                          , the
                                 AUTHORIZED SIGNATOR                                                             TITLE
           of                                                                 a(n) Ohio
                                 NAME OF COMPANY                                                   TYPE OF COMPANY


           who acknowledges that he/she is an authorized signator of said company, and did sign the foregoing instrument

           on behalf of                                                       and that the same is his/her free act and deed.
                                                   NAME OF COMPANY


           IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal            this ________day of _____________, 20




Page 35 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                     Streetsboro Family Homes


                                             Housing Credit Program
                              This is the official OHFA form
                                                    PREVIOUS ALLOCATION OF HOUSING CREDIT

         Has this project previously received an allocation of Housing Credits?                     No          Yes/No

         If Yes, complete the following:

                             Allocation Year:                               BIN #(s):
                      Placed In Service Date                       Original Tracking #:
   Names of previous owners or management who are parties in this new development

                                                        ANNUAL HOUSING CREDIT CALCULATION

                                                  total              total                 total
                                                  acquisition        rehabilitation        new construction
                                                  basis              basis                 basis
                            Total Eligible Basis: $                - $                   - $     5,100,250

                Portion of Grants & Low-Interest
                 Federal Loans used to Finance
                  Qualifying Development Costs:                                              $               - Subtract from Total Eligible Basis.

                                 Non-Qualifying
                         Units of Higher Quality:                                            $               - Subtract from Total Eligible Basis.

                            Historic Tax Credit:                                                                Subtract from Total Eligible Basis.
                      (Residential Portion only)




                                                                                                                         0
                               Net Eligible Basis $                -   $                 -   $      5,100,250

                       % of Sites in a 2010 QCT                                                     0%          See Exhibit K of the 2011 QAP

                Adjusted Eligible Basis for QCT     $              -   $                 -   $      5,100,250 Multiply Net Eligible Basis by 130% for Sites
                                                                                                                Located in a QCT.
           Maximum Additional Basis Available                          $                 -   $      1,530,075

                     Additional Basis Requested                                              $      1,530,075 See 2011 QAP page 45 for details before filling in this
                                                                                                                cell. Must also submit a narrative detailing the


                    Total Adjusted Eligible Basis $                -   $                 -    $     6,630,325

                            Applicable Fraction:          100.0000%         100.0000%              100.0000% Lesser of Low-Income Unit Fraction or
                                                                                                                Low-Income Floor Space Fraction.

                           Total Qualified Basis:   $              -   $                 -   $      6,630,325 Multiply Adjusted Eligible Basis
                                                                                                                by Applicable Fraction.

            Applicable Tax Credit Percentage:                                                     9.00%

                            Annual Amount of
                     Housing Credit Requested:      $              -   $                 -   $        596,729 Multiply Total Qualified Basis by
                                                                                                                Applicable Tax Credit Percentage.

                            Previous Allocation:    $              -   $                 -   $               - Subtract from Amount of HC Requested.


                                       Housing Credit Requested:       $          596,729 Add Acquisition, Rehabilitation, & New Construction
                                                                                             Housing Credit amounts.

                                     Ten Year Housing Credit Total:    $     5,967,293 Multiply Total Housing Credit Amount by 10.

                                                               SALE OF LIMITED PARTNERSHIP




Page 36 of 60
          Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                             Streetsboro Family Homes


                                                          Housing Credit Program
                                           This is the official OHFA form

                               Name of Fund or Syndicator: Ohio Capital Corporation

                      Type of Offering:

                              No           Public Offering                                     No          Self-Syndicated

                              Yes          Private Offering                                    No          No Syndication

                      Contact Person:                 Name: Brian Langmeyer
                                                    Phone #: (614) 224-8446            (ext)                           Fax #:       (614) 224-8452



                                                              HOUSING CREDIT EQUITY PROCEEDS CALCULATION


                      Calculation of Net Equity:
                                                                      Gross Equity:    $       4,534,688                             4534688.786
                                              less: upper tier Bridge Loan interest:
                                      less: lower tier OHFA Bridge Loan interest:
                                        less: lower tier other Bridge Loan interest:
                                                             less other deductions:

                                                                       Net Equity:     $       4,534,688 Should equal the Housing Credit Net Equity amount listed in
                                                                                                           the conditional equity commitment letter

                      Housing Credit Net Equity Factor:                      0.7600 4 decimals             Less all upper tier costs and bridge loan interest, and
                                                                                                           including OHFA Equity Bridge Loan (if applicable).


                                                          DESIGNATION OF HOUSING CREDIT ALLOCATION POOL

                      Applications for the competitive funding round will be assigned by OHFA to one allocation pool based on the characteristics
                      of the proposed project. Mark Yes or No in each applicable space below to determine the allocation pool for your project.

                      Indicate whether all of the buildings in this project will be financed using one of the following USDA Rural Development programs:

=IF(B105="yes",1,0)           No           Section 515 Rural Rental Housing Loan (new construction only)
=IF(B106="yes",1,0)           Yes          Section 538 Rural Rental Housing Loan Guarantee (must equal at least 10% of total project costs)

                      Does this project meet the criteria of Permanent Supportive Housing according to the ICHAH PSH Policy Framework?
                      See 2011 QAP Exhibit D
                                       0          No           Yes/No



                      Indicate whether all of the residential buildings in this project will meet one of the following definitions of preservation housing:

=IF(B115="Yes",1,0)           No           Projects receiving project-based rental subsidy through a Section 8 HAP contract
=IF(B116="Yes",1,0)           No           Troubled project that has received assistance from the USDA Rural Development office.
=IF(B117="Yes",1,0)           No           Approved to participate in the HUD Portfolio Reengineering Program.
=IF(B118="Yes",1,0)           No           HUD Section 202 or Section 811.
=IF(B119="Yes",1,0)           No           Existing HUD Section 236 project with decoupling of Interest Reduction Payment (IRP).
=IF(B120="Yes",1,0)           No           Project that received an allocation of Housing Credits between 1987 and 1994 and was later completed and placed-in-service.

                      This project will compete in the following allocation pool:                   General Pool                 RURAL DEVELOPMENT POOL




                                                                                    OTHER TAX CREDITS
                      Will this project use Federal Historic Rehabilitation Tax Credits in its financing structure?
                                                   No          Yes/No                                                            (If yes, answer all questions in this section)

                                           Are there buildings in this project listed on National Register of Historic Places?
                                                   No           Yes/No

                                           Have the buildings in this project received an approved Part I application from the Ohio Historic Preservation Office?




          Page 37 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                    Streetsboro Family Homes


                                              Housing Credit Program
                              This is the official OHFA form
                                       No           Yes/No                                                                           Approval Date
                              % of the total units in this project contained in historic buildings

                              Have one of the GP's or the contractor successfully completed and placed-in-service at least one other historic project?
                                     No         Yes/No

         Will this project use the Ohio Historic Preservation Tax Credit in its financing structure?
                                      No           Yes/No

                                                        RENT ELECTIONS and INCOME TARGETING

         Rent elections for the low-income units in the project: (use percentages)

                 60%                 of the low-income units at                 60%            of Area Median Gross Income (AMGI).

                 35%                 of the low-income units at                 50%            of AMGI.

                 5%                  of the low-income units at                 35%            of AMGI.




         Select one of the elections below
                             At least 20% of the rental residential units in this development are rent restricted
                             and to be occupied by individuals whose income is 50% or less of Area Median Income.

                 Yes          At least 40% of the rental residential units in this development are rent restricted
                              and to be occupied by individuals whose income is 60% or less of Area Median Income.



                                    HDAP OCCUPANCY & AFFORDABILITY REQUIREMENTS (if applicable)

         If applying for HDAP in addition to Housing Credits, please mark one box below:

         FOR PROJECTS LOCATED IN NON-PARTICIPATING JURISDICTIONS
              Yes      At least 35% of the rental residential units in this development will be occupied by and affordable to
                       individuals at or below 50% of Area Median Income
               yes     5% of the units occupied and affordable to households with incomes at or below 35% AMGI

         FOR PROJECTS LOCATED IN PARTICIPATING JURISDICTIONS
                       At least 40% of the rental residential units in this development will be occupied by and affordable to
                       individuals at or below 50% of Area Median Income
                       10% of the units occupied and affordable to households with incomes at or below 35% AMGI



                                                           HOUSING CREDIT APPLICATION FEE

         Application Fee:       $          2,000

                                       Please make checks or money orders payable to:         Ohio Housing Finance Agency
                                            Please write the project name on the check.


                                                              ESTIMATED RESERVATION FEE

                   Reservation Fee (estimate):      $          29,836

                                                                ESTIMATED MONITORING FEE

                       Monitoring Fee (estimate):   $          25,200

                                                        OHIO HOUSING LOCATOR REGISTRATION

The owner and/or property manager of all housing credit credit properties funded from 2008 on are required to list their properties in the Ohio Housing Locator,
which is the OHFA-sponsored statewide, affordable housing database. The registration is required as soon as the units are placed in service. How do you intend
      To that this Housing Credits, in addition to completing Sections A, B, C, D, and E of the 2008 OHFA
to insure apply for takes place?



Page 38 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                Streetsboro Family Homes


                                            Housing Credit Program
The owner and/or property manager of all housing credit credit properties funded from 2008 on are required to list their properties in the Ohio Housing Locator,
which is the OHFA-sponsoredThis is the official OHFA form database. The registration is required as soon as the units are placed in service. How do you intend
                                 statewide, affordable housing
      To that this Housing Credits, in addition to completing Sections A, B, C, D, and E of the 2008 OHFA
to insure apply for takes place?

         The owner and property manager of this development commit to list this property with the Ohio Housing Locator upon Placed-in-

                 Link to Locator >>>>             www.OhioHousingLocator.org




Page 39 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                    Streetsboro Family Homes


         Housing Development Assistance Program (HDAP)
                                                                    THRESHOLD REVIEW

    The following items represent the minimum requirements for this program. The staff will strictly adhere to the policies established in the
    program guidelines. It is strongly recommended that applicants review the guidelines to avoid delays in processing their request.

                      HDAP RECIPIENT CONTACT NAME Streetsboro Family Homes LP
                                AUTHORIZED SIGNER David J. Uram

In addition to the applicable Threshold requirements noted for the Housing Development Loan Program, the Recipient must submit:



                 x         Most recent audited financial statements of the Recipient (2009 or later)

                 x         Organizational Chart of the Applicant organization

                           Lead Based Paint Plan

                 x         Qualified Cost Estimates
                           (If any members of the development team have an identity of interest with the general contractor, then the
                           cost estimates must be from a third party)

                 x         Evidence of submission to the Local Clearinghouse:
                           - copy of the cover letter, and
                           - copy of one of the following:
                             a) stamped certified receipt
                             b) signed green card for certified mail
                             c) signed receipt from the Clearinghouse
                             d) letter from the Clearinghouse acknowledging receipt

                 x         Copy of Corporate Resolution of Recipient evidencing the authority of the "authorized signer" to sign legal documents
                           on behalf of the organization

                 x         Required Narratives

For Applicants qualified to participate in the HOME CHDO set-aside and/or applicants requesting a grant:

                           Submit a copy of the letter from the State acknowledging the entity as a State Certified CHDO

If applying for a Grant:

                           Evidence of Federal Tax-Exempt Status [i.e. 501(c)(3) or 501(c)(4)]

                           Articles of Incorporation and Ohio Secretary of State documentation of status for the Non-Profit Organization

                           By-Laws of the Non-Profit Organization

         NOTE: Projects that are currently receiving subsidy that requires rent to be maintained at an affordable level and
         are NOT being submitted as a Preservation Project are NOT eligible for an allocation of funds under HDAP.



                                                                 GENERAL INFORMATION

         If this project previously received an allocation of Credits, the original Housing Credit Tracking # will appear below.
                        0

         Type of award being requested (select one) :

                           Grant            NOTE: The project must meet the eligibility requirements for a grant, if requested.

                 x         Loan

                                           PROFILE OF COMMITTED/POTENTIAL FEDERAL FUNDING

         Federal Funding Anticipated and/or Awarded                             MUST INCLUDE ALL SOURCES OF HOME/FEDERAL DOLLARS
                                                                                                 Amounts




Page 40 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                           Streetsboro Family Homes


        Housing Development Assistance Program (HDAP)
         Source                                                 HOME         CDBG                     (Other 1)          (Other 2)
         HDAP                                                   $    550,000




                                                                                                                                                0.107142857
                                                      Totals:   $     550,000      $              -   $              -   $              -

         Calculation of Assisted Units - Estimate

         HDAP Assisted Units:                        3          HDAP Amount Requested divided by Total Project Cost multiplied by Total
                                                                Number of Units.

         HOME or Assisted Units:                     3          Total HOME Requested divided by Total Project Cost multiplied by Total
                                                                Number of Units.

         221(d)(3) Limit Calculation:                3                3            (Rounded Up)

         Estimated Assisted Unit Distribution:




                                             Total Affordable   Estimated
                                                   Units      Assisted Units
                                SRO                  0              0
                                EFF                  0              0
                                1 BR                 0             0.00
                                2 BR                 4             0.43
                                3 BR                24        2.571428571
                               4+ BR                 0              0
                               TOTAL                                3



         Applicability of High and Low HOME Rents - Estimate

                  Total Number of HOME or Assisted Units              3

                           Low HOME Rents - Applicable?               no           If HOME-Assisted Units equal 5 or more, Low HOME Rents apply.



                                                                                       Low HOME         High HOME            Low HOME           High HOME
                                                 Total Units    Assisted Units           Units             Units               Rents               Rents
                                 SRO                 0                0                    0                 0
                                 EFF                 0                0                    0                 0
                                 1 BR                0               0.00                  0               0.00
                                 2 BR                4               0.43                  0               0.43          $           731    $          762
                                 3 BR               24          2.571428571                0           2.571428571       $           845    $          969
                                4+ BR                0                0                    0                 0



                                                                 APPLICABLE WAGE RATES

         Federal Wage Rates

                HOME or Assisted Units =             3

         If the HOME-Assisted Units are 12 or more AND/OR the project has received CDBG funds and has eight or more units,
         then Federal Davis-Bacon Wage Rates must be paid by the project. If 811, 202 or 221(d)(4) financing is part of the project,
         Davis-Bacon wage rates apply, no matter how many units are proposed

         Were Davis-Bacon Wage Rates used to estimate construction costs for the project?
                                      Yes                       x         No



         State Prevailing Wage Rates




Page 41 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                     Streetsboro Family Homes


        Housing Development Assistance Program (HDAP)
         Applicant / majority owner is a for-profit                      x         Yes                                  No

         * If Yes, does the project contain 5 or more units (total affordable units, not assisted units)?

                                    x          Yes                                 No                                   Not Applicable

         If the applicant/majority owner is a for-profit and is proposing to construct 5 or more units, State of Ohio Prevailing
         Wage Rates must be paid by the project.

         Were State of Ohio Prevailing Wage Rates used to estimate construction costs for the project?

                                    x          Yes                       x         No


         Applicant/majority owner is a not-for-profit                    x         Yes                                  No

         * If Yes, does the project contain more than 24 units (total units, not assisted units)?

                                    x          Yes                                 No                                   Not Applicable

         * If there are 25 or more units, are 12% or more of project sources federal sources?

                                    x          Yes                                 No                                   Not Applicable
                                                                                                                                                      No

         If the applicant/majority owner is a not-for-profit, is proposing to construct more than 24 units AND less than 12% of the
         project's financing sources are from the federal government, State of Ohio Prevailing Wage Rates must be paid by the project.

         Were State of Ohio Prevailing Wage Rates used to estimate construction costs for the project?                                                No

                                    x          Yes                       x         No



                                                                  ACQUISITION/RELOCATION

         Does the project involve the acquisition of existing buildings?                                                Yes                      x    No

                            If yes, include evidence of Acquisition/Relocation Documentation.



         Does the Project Involve the Temporary or Permanent Relocation of Residents?                                   Yes                      x    No

         If yes, include a Relocation Plan, including a detailed budget, describing how relocation will be achieved and how much it will cost.



                                                        HDAP FINANCING AWARD INFORMATION

                         Name of Recipient: PIRHL Streetsboro GP Corp.
                                     Address 4949 Galaxy Parkway, Suite S
                    City, State and Zip Code Warrensville Heights, OH 44128
                                     Phone #         (216) 378-9690         Email Address            duram@pirhl.com

          Status of Recipient Organization                      Not For Profit     x                 For Profit
                            (Please refer to the program guidelines for the definition of "eligible applicant")

                FTIN of the above Recipient:

                            (Note: Funds cannot be encumbered without an FTIN)

      Authorized Signer                 Name: David J. Uram                                                       Title: President




Page 42 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                   Streetsboro Family Homes


        Housing Development Assistance Program (HDAP)
                                                             CHDO SET - ASIDE ELIGIBILITY

         Is the applicant a State-Designated Community Housing Development Organization (CHDO) and eligible for the HOME CHDO Set-Aside?

                                            Yes                       x        No

         Is the applicant willing to be awarded funds under the CHDO Set-Aside requirements?

                                            Yes                       x        No

         NOTE: OHFA reserves the right to award HOME funds to CHDOs to meet the Agency's set-aside requirements, if necessary.



                                      NEW CONSTRUCTION - SITE AND NEIGHBORHOOD STANDARDS

         For all proposed new construction projects, OHFA guidelines require that new construction rental developments meet a set of site and
         neighborhood standards. To evidence that the proposed project meets those standards, all projects proposing all or some new construction
         units must answer the following:

         SITE: Is the site of adequate size to accommodate the number of units proposed? Is the site adequately served by infrastructure?
                         Yes. The site can accommodae the number of units proposed. All utilities are available to the site.

         CONCENTRATION: Will the project unduly concentrate minority or low-income residents?
                      How will the project promote greater housing choice?
                    No. This will be the only tax credit financed residental development in the Primary Market Area.

         NEIGHBORHOOD CONDITIONS: Is the project located in an area of declining housing stock or high crime?
         If yes, are there concerted efforts to remedy these conditions and if so, what are those remedies?
                                    No. The development will be located in a stable growing area within Streetsboro.

         LOCATION: Is the project accessible to social, recreational, educational, commercial and health services and facilities and other
           community services? Is the project located in an area that would require undue cost or time in traveling to places of employment?
           The site is located in immediate proximity and walking distance to a broad array of retail, service facilities, and employment

         3.1 Discuss any theyour organization's history, including its accomplishments with includingto past projects,funds are in theservi ces a
         2.1 Briefly describe following items in proposed is being provided to including demographics and these programs and form of
         Please discuss neighborhood that the detail:
         4.1 Describe the pre-development assistance that project would serve, the project, respect whetherother relevant socio-economic




Page 43 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                         Streetsboro Family Homes


                        Housing Development Loan Program
                                                                    THRESHOLD REVIEW

   The following items represent the minimum requirements for this program. Applications with inaccurate, incomplete, or missing information will
   not move through the approval process until all required information is provided. OHFA cannot guarantee a Board approval date. The staff will
                                                      2009 Housing Development Loan Program Guidelines and Appendix A.
   strictly adhere to the policies established in the Housing Development Loan Program Guidelines. It is strongly recommended that applicants
   OHFA the guidelines to avoid delays any additional information
   review reserves the right to requestin processing their request. it deems necessary to evaluate funding requests.
   OHFA reserves the right to request any additional information it deems necessary to evaluate funding requests.

INCLUDED:

                           Completed 2011 AHFA




FINANCIAL:

                           If applying for an Equity Bridge Loan, a letter from the equity provider stating they have read, understood, and will abide by
                           the Housing Development Loan Program Guidelines, and providing a detail of the form and substance of the
                           collateral to be provided .

                           If applying for a Construction Deposit Grant, a letter from the construction Lender which states
                           the benefit of the grant in terms of how it affects the construction loan interest rate.


                           Equity commitment letter(s) detailing the benefit both with and without the Equity Bridge Loan net of bridge loan interest
                           (Direct Loan if collateral will be Qualified Investor Notes) .

                           Copies of all Credit Enhancement Financing, including but not limited to AHP, CDFF, Secondary Bridge Loan, and ELF. Applicant
                           must include firm or conditional commitment letters, or a letter from the organization providing the enhancement affirming that
                           (1) an application has been received, (2) the project meets the program requirements, and (3) when a funding decision will be made.

                           Developer and/or General Partner deferral commitment letters, if applicable.

                           Documentation provided for all additional income noted in the Proforma section of the AHFA (including rental assistance,
                           if applicable). This information must agree with the Proforma.

                           Sources and Uses of funds must be equal.

                           Permanent Financing cannot be less than the Construction Financing. If the Permanent Financing is greater than
                           the Construction Financing, an explanation must be provided detailing what costs are being included in the Permanent
                           Financing that are not covered in the Construction Financing and why.

PRESERVATION PROJECTS:

                           Evidence that clearly states that project meets one of more of the definitions of "Preservation" in the 2011 QAP (page 24)



OCCUPIED AND/OR REHABILITATION PROPERTIES:

                           For projects that are currently occupied, (1) a current rent roster, (2) a current rent schedule, and (3) a statement describing
                           the vacancy rate over the past three years.

                           Rehabilitation projects must provide an "as-is" appraisal evidencing the value of the structure(s) prior to any rehabilitation work.
                           This must be provided within 30 days of an reservation of Housing Credits. The appraisal, with a cover letter stating the name
                           and tracking number of the project, must be sent to OHFA, to the attention of the Affordable Housing Programs Manager.

GENERAL:

                           Letter from each entity with an ownership interest in the project stating they have read and will abide by the current (March 2009)
                           Housing Development Loan Program Guidelines.

                           Statement of Public Purpose.

                           Tax Information Authorization Disclosure for the applicant and for each entity that comprises the applicant.

                           For new construction properties, an appraisal evidencing the value of the land.




Page 44 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                    Streetsboro Family Homes


                        Housing Development Loan Program
                             Uniform Relocation Act Statement or Plan AND Relocation Plan.

                             Current version of the Affirmative Fair Housing Marketing Plan (Revised August 2010)



NOTE:    It is expected that all supporting information provided in the application will support and/or confirm the information entered by the Applicant
         on the 2011 AHFA. If it does not, it will constitute a Threshold Deficiency.



Name of Borrower




Name of Applicant




                                                           CONSTRUCTION DEPOSIT GRANT

         Amount requested:


         Percent of the amount of the loan against the Total Residential Project Cost*:                                           0.00%
         * Net OHFA interest.



         Projected construction interest expense:
                        (i)                        Including Construction Deposit Grant request:
                       (ii)                       Excluding Construction Deposit Grant request:

                             One of these figures should equal the construction interest expense
                             (both amounts must be evidenced in the construction financing commitment letter).

         Estimated Construction Loan Draw Information:

                             loan draw                                                    loan draw
                month        amount                                     month              amount
                  1                                                      13
                  2                                                      14
                  3                                                      15
                  4                                                      16
                  5                                                      17
                  6                                                      18
                  7                                                      19
                  8                                                      20
                  9                                                      21
                 10                                                      22
                 11                                                      23
                 12                                                      24



                                                         EQUITY BRIDGE LOAN INFORMATION

         Amount requested:                                                                               (not to exceed $1,500,000 or 50% of Total Residential Project Cost

         Term of the loan:                                        months.            (not to exceed 120 months)


         Budgeted interest rate:                     2.00%

         Percent of the amount of the loan against the Total Net Equity:                                                         #DIV/0!




Page 45 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                   Streetsboro Family Homes


                        Housing Development Loan Program
         Percent of the amount of the loan against the Total Residential Project Cost*:                                                0.00%
         * Net OHFA interest.

         What is the pledged amount of the limited partner equity contribution:

                              Including Equity Bridge request
                              Excluding Equity Bridge request                                              Must supply equity commitments for both scenarios.



         Net Equity Pay-In Schedule:
                                                   net equity
                                                    amount
                           Up to P.I.S. Date:
                                End Year 1:
                                End Year 2:
                                End Year 3:
                                End Year 4:
                                End Year 5:
                                End Year 6:
                                End Year 7:
                                End Year 8:
                                End Year 9:
                               End Year 10:
                                     Other 1:
                                     Other 2:
                                       Total: $                  - Should equal the Housing Credit Net Equity amount listed in the conditional
                                                                   equity commitment letter.



                   Name of Specific Equity Fund or Syndicator:

         Type of Offering:

                             Public Offering                                            Self-Syndicated

                             Private Offering                                           No Syndication


         Contact Person:               Name:
                                     Phone #:                                  Fax #:

         Identify the existing or proposed limited partners and their share of capital contributions in the fund:
                                                                                                                               percentage
         name of limited partner                                                                                                 share




         Proposed Collateral For the Equity Bridge Loan:

                             Qualified Investor Notes                                   Qualified Corporate Guarantee

                             Qualifed Letters of Credit                                 Other:

         Please give further details on the proposed EBL collateral.
                            Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.

                                                                 FLEX LOAN INFORMATION

         Amount requested:

         Term of the loan:                                         months.              not to exceed 120 months


         Proposed Use of Loan:




Page 46 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                 Streetsboro Family Homes


                        Housing Development Loan Program
                        Construction Period:                                                  Post-Construction Period:

         Describe the proposed use of the Flex Loan:
                           Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.

         Budgeted interest rate:                     2.00%

         Proposed Collateral For the Direct Loan:

                           Municipal Guarantee                                      Qualified Corporate Guarantee
                           Qualified Letters of Credit                              Other:

         Please give further details on the proposed Direct Loan collateral.
                            Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.

                                                                   OCCUPIED PROPERTIES

         How many units are currently vacant?

         If rents increase, please describe what impact the rent increase will have on existing tenants and what assistance,
         if any, will be provided to those tenants.
                              Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.

                                                             PROJECT COST CALCULATIONS

         Total Development Cost per Unit:       $        189,734




         If the construction financing for the project is less than the permanent financing, please provide a DETAILED explanation. Indicate which costs
         evidenced in the 'Uses' section of the Proforma will not be addressed until the permanent financing phase.
                              Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.

                                                         ALTERNATE SOURCES OF FINANCING

         Can this project proceed only "but for" the receipt of the Housing Development Loan?

                           Yes                                     No

         Are there other alternative sources of financing with reasonable equivalent terms and conditions available for this project?

                           Yes                                     No

         If Yes to question above, describe these alternate sources of funding below.
                             Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.

         If No to question above, explain what alternative sources of financing were considered and why it was determined that such sources
         were not available for the project.
                            Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.




                                                     ACQUISITION & REHABILITATION PROJECTS

         Are any members of the original ownership structure (general partners or limited partners) remaining in the new ownership structure?

                                               Yes                                  No                                    Not Applicable

         If Yes, please explain which members will be remaining in the ownership structure, and describe why the rehabilitation is required
         through no fault of the such owners.
                             Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.

         Will there be a change in the management company for this project?




Page 47 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                             Streetsboro Family Homes


                       Housing Development Loan Program
                                                Yes                                      No                            Not Applicable

         If No, please explain why the rehabilitation is required through no fault of the present management company.
                            Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.

                                        HOUSING DEVELOPMENT LOAN PROGRAM APPLICATION FEE

         Application Fee:

                            The application fees for the Housing Development Loan Program is as follows:
                            See Appendix A of the 2009 HDLP Guidelines for loan sevicing fees and closing fees




                                                Construction Deposit Loan:                      $600

                                                Equity Bridge Loan:                             $600

                                                Direct Loan:                                    $600




                   NOTE: Projects seeking Housing Credits will be required to submit HDLP application fees after a reservation
                         of credit is received. Do not include these fees with the initial application submission.

                            DO NOT REMIT PAYMENT UNTIL AN INVOICE HAS BEEN RECEIVED.




Page 48 of 60
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                 Streetsboro Family Homes


                                          Multifamily Bond Program
NOTE: Only projects that wish to have the OHFA issue tax-exempt bonds must complete this section.
Projects that are using tax-exempt bond financing issued by another entity do not have to complete this section.


APPLICATION TYPE                                                       TYPE OF BONDS

                               New Issue                                                    Bonds Issued pursuant to Private Activity Volume Cap
                               Refunder                                                     501(c)(3) Bonds
                               Supplemental Issue                                           Other (Taxable)



         Is the applicant also seeking an allocation of Housing Credits?

                               Yes                                     No



                                                    TAX-EXEMPT BOND FINANCING INFORMATION


                                                    Aggregate Basis
                                     Amount            plus Land            Interest Rate         Term
                Series A                                           0
                Series B                                           0
                Series C                                           0
                 Other                                             0



         For Acquisition projects only:

          Value of Building:                                         Loan to Value Ratio:        #DIV/0!

                    Source:



                                                    ADDITIONAL DEVELOPMENT TEAM MEMBERS

         In addition to the development team members listed previously, please provide the following:

                                                                               name                                 phone #             fax #
                                  Bond Counsel:
                             Investment Banker:
                               Mortgage Banker:
                                       Guarantor:
                                   Paying Agent:
                              Mortgage Servicer:
                                  Trustee Bank:
                               Owner's Counsel:
                              Trustee's Counsel:
                           Underwriter's Counsel:
                                           Other:



CONTROLLING OWNER/MANAGING MEMBER PREVIOUS EXPERIENCE WITH TAX-EXEMPT BOND PROJECTS

         For project status please ONLY list: PIS (placed-in-service); W (withdrawn); R (revoked);
         or UC (under construction). Please include both Ohio and out-of state projects.

                      project name                  issuer & state           issue date                  bond amount                    status        # of units




Page 49 of 60                                                                                                                            Revised February 13, 2009
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                            Streetsboro Family Homes


                                         Multifamily Bond Program




         IF MORE SPACE IS NEEDED, CLICK ON TAB EXTRA_SP2)
                                                                 CREDIT ENHANCEMENT

                Type
                                                FHA
                                                Private Placement
                                                Letter of Credit
                                                Other:

   Term of Enhancement:                         years.

         Briefly describe the enhancement below:
                                  Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.

                                                          PROJECT BENEFITS NARRATIVE

         Please describe below: A. the benefits that the future and/or current residents and the community will receive;
         and B. the costs savings and any financial benefits that the owner of the project will receive resulting from
         the tax-exempt bond transaction. Be specific.

         This narrative is necessary for all requests to the OHFA Board for authorization of issuance.
                                 Type your response here. It can be as long as necessary. Ignore the cell boundaries as you type.

                                                            RECEIPTS & DISBURSEMENTS

                                                      Series A            Series B            taxable              other
                                                       bonds               bonds               bonds               funds           TOTAL
           Receipts: (Account for all receipts
                   Principal Amount of Bonds:                                                                                  $            -
                Less: Original Issue Discount:                                                                                 $            -
                       Plus: Accrued Interest:                                                                                 $            -
                     Net Receipts on Bonds: $                     -   $               -   $               -   $            -   $            -
                  Plus: Mortgage Payment(s):                                                                                   $            -
                 Plus: Debt Service Reserve:                                                                                   $            -




Page 50 of 60                                                                                                                       Revised February 13, 2009
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                       Streetsboro Family Homes


                                         Multifamily Bond Program
                     Plus: Bond Fund Balance:                                                                                          $                 -
                                Plus: Other 1:                                                                                         $                 -
                                Plus: Other 2:                                                                                         $                 -

                TOTAL RECEIPTS (equal TPC): $                      -   $                -   $                -   $                 -   $                 -

                               Disbursements:
                 Accrued Interest to Bond Fund:                                                                                        $                 -
                   Debt Service Reserve Fund:                                                                                          $                 -
                 Cash Deposit to Escrow Fund:                                                                                          $                 -
                       Project Repairs Escrow:                                                                                         $                 -
                            *Costs of Issuance:                                                                                        $                 -
                         Deposit to Bond Fund:                                                                                         $                 -
                                        Other 1:                                                                                       $                 -
                                        Other 2:                                                                                       $                 -
                                        Other 3:                                                                                       $                 -

      TOTAL DISBURSEMENTS (equal TPC): $                           -   $                -   $                -   $                 -   $                 -

         * This percentage can be no higher than 2% of tax-exempt bond proceeds. Any amount over 2% must be noted from
         another source above.

         Note: In lieu of submitting the above, OHFA permits the investment banker to submit legible copies (in their own format)
         of the sources and uses of all of the following: revenue; bond number series; fees; or other contributions.
         Updates will be required by the Agency periodically.



                                                          COST OF ISSUANCE BREAKDOWN

                                                   % of Tax-Exempt
                                                        Bonds          Series A Bonds       Series B Bonds         Taxable Bonds           Other Funds           TOTAL
                    Investment Banker's Fee:            #DIV/0!                                                                                              $           -
              Other Related Issuance Costs:
           Issuer's application fee & expenses:                                                                                                              $           -
              Investment banker's counsel fee:                                                                                                               $           -
              Issuer's counsel fee & expenses:                                                                                                               $           -
                Bond Counsel fee & expenses:                                                                                                                 $           -
             Lender's Counsel fee & expenses:                                                                                                                $           -
                                Special Counsel:                                                                                                             $           -
                                    Trustee's fee:                                                                                                           $           -
                Trustee's counsel & expenses:                                                                                                                $           -
                                Other expenses:                                                                                                              $           -
                                Other expenses:                                                                                                              $           -
                                Other expenses:                                                                                                              $           -
                                Other expenses:                                                                                                              $           -
                  Printing, etc. blank securities                                                                                                            $           -
                          & offering documents:                                                                                                              $           -
                                  Clearance fee:        #DIV/0!                                                                                              $           -
                                    MSRB/PSA:           #DIV/0!                                                                                              $           -
                                       CUSPID:          #DIV/0!                                                                                              $           -
                   Miscellaneous contingency:                                                                                                                $           -
     Other Related Issuance Costs Subtotal:             #DIV/0!        $                -   $                -   $                 -   $                 -   $           -
                                         TOTAL:         #DIV/0!        $                -   $                -   $                 -   $                 -   $           -

         * This percentage can be no higher than 2% of tax-exempt bond proceeds. Any amount over 2% must be noted from
         another source above.

         Note: In lieu of submitting the above, OHFA permits the investment banker to submit their own analysis format
         detailing all costs of issuance.



                                                           MINIMUM SET - ASIDE ELECTION

         Please mark an "x" in one box below:

                             At least 20% of the rental residential units in this development are to be occupied




Page 51 of 60                                                                                                                                 Revised February 13, 2009
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                                 Streetsboro Family Homes


                                          Multifamily Bond Program
                             by individuals whose income is 50% or less of area median income.

                             At least 40% of the rental residential units in this development are to be occupied
                             by individuals whose income is 60% or less of area median income.


         Complete the following if applying for Housing Credits in addition to Tax-Exempt Bond financing:

                            Applicable Fraction:          N/A                               Lesser of Low-Income Unit Fraction or Low-Income Floor Space Fraction.



                                                                      APPLICATION FEE

                               Application Fee:         $2,000

                                        Please make checks or money orders payable to: Ohio Housing Finance Agency
                                        Also, please write the project name on the check.



                                         TAX-EXEMPT BOND APPLICATION SUBMISSION CHECKLIST
         To apply for Preliminary Approval for Tax-Exempt Bond Financing, in addition to completing Sections A, B, C, D, and H of the
         applicable year's OHFA Affordable Housing Funding Application, please submit the exhibits and attachments as follows :


                             Completed AHFA

                             Application Fee


                             Proper Evidence of Site Control*

                             Permissive Zoning Letter and/or Descriptive Zoning Map*

                             Local Official Notification Letters*: Pursuant to ORC 175

                             OHFA Form PC-E45 - Affirmative Fair Housing Marketing Plan & Attachments*

                             Non-OHFA Construction & Permanent Sources Conditional Commitment Letters (Loan, Grant, & Equity)*

                             Preliminary Plans & Specifications*

                             Location Map & Pictures*

                             Resumes for All Development Team Members

                             Letter of Intent from Guarantor or Private Placement Entity

                             Inducement and Indemnity Agreement Letter

                             Market Study*

                             Prevailing Wage Statement

                             Source for Building Value and Loan-to-Value Ratio

                             Audited Financial Statements for the General Partners for the past three consecutive years
         * It is not necessary to submit another copy of these items if the applicant is also applying for Housing Credits.

b.       For Acquisition/Rehabilitation projects, these additional items need to be submitted:

                             Audited Project Cash Flows for the past three consecutive years

                             Rent Rolls to Document Current Occupancy

c.       For projects requesting Housing Credits, these additional items need to be submitted:




Page 52 of 60                                                                                                                            Revised February 13, 2009
Ohio Housing Finance Agency 2011 Affordable Housing Funding Application                                                          Streetsboro Family Homes


                                       Multifamily Bond Program
                           Utility Allowance Information



d.       When applying for Final Approval, please submit any pages of the applicable year's AHFA which have information that has changed
         from the initial application, and the exhibits and attachments as follows :

                           Narrative Describing Changes from Initial Application
                           Relocation Plan, Management Plan & Contract, and Lease Agreement
                           As Improved Appraisal
                           Evidence of Credit Enhancement or Private Placement Commitment
                           Final Drawings and Specifications; Rehabilitation Scopes of Work/Detail
                           Construction Contract
                           Legal Opinion(s)
                           Underwriter's Debt Service Schedule




Page 53 of 60                                                                                                                    Revised February 13, 2009
                             Ohio Housing Finance Agency 2011 Affordable Housing Funding Application


                                     2011 Program Forms

         Development Features Agreement

         OHFA FORM 001A - Reconsideration of 2011 Visitability Requirements

         OHFA FORM 002 - Market Study Checklist

         OHFA FORM 003 - Market Study Certification

         OHFA FORM 004 - Certification of Consistency with Local Consolidated Plan or CHIS

         OHFA FORM PC-E45 (revised August 2010) - Affirmative Fair Housing Marketing Plan


         Link for all forms below:

         Sample 1: Inducement and Indemnity Agreement Letter (MFBP)

         Instructions: Acquisition, Relocation and Demolition Section

         Attachment 1: Questionnaire on Acquisition, Relocation and Demolition

         Attachment 2: Real Property Acquisition and Relocation Certifications

         Attachment 3: Sample Voluntary Acquisition Form - Third Party

         Attachment 4: Tax Information Disclosure Authorization




Page 54 of 60                                                                                          Revised February 13, 2009
EXTRA SPACE FOR HOUSING CREDIT APPLICANTS                 2011 QAP     Streetsboro Family Homes




                        OWNERSHIP ENTITY (check one)      x
                       Majority  Second     Third Owner                                  Name of GP &   Housing Credit     HDAP         Other Programs
       Project Name    Owner      Owner                   Tracking #      # of Units      Parent Org.    Date/Status     Date/Status   Name/Date/Status




Page 55 of 60
EXTRA SPACE FOR MF BOND APPLICANTS            2011 QAP        Streetsboro Family Homes




           project name      issuer & state      issue date     bond amount              status   # of units




Page 56 of 60
Other Experience with Affordable Housing Programs                 2011 QAP      Streetsboro Family Homes




                                OWNERSHIP ENTITY (check one)      x
                               Majority  Second     Third Owner                                   Name of GP &          Housing Credit       HDAP                Other Programs
       Project Name            Owner      Owner                   Tracking #       # of Units      Parent Org.           Date/Status       Date/Status          Name/Date/Status

PIRHL's OTHER EXPERIENCE
                             Ohio Equity                                                         Elkhart Senior
Water Tower Place            Fund for                                                            Housing, Corp.;
Apartments                   Housing                              IN-06-02200          52        LaCasa, Inc.               2006         n/a             IHCDA HOME
                             Ohio Equity                                                         Frank Cook Senior
                             Fund for                                                            Housing Corp.; ZHDC
Frank Cook Senior Housing    Housing                              05-0010              60        & MEOAG                    2005         2005 - closed   OEE Linked Deposit
                             Ohio Equity                                                         Zanesville Family
                             Fund for                                                            Homes II, Corp.;
Zanesville Family Homes II   Housing                              06-0033              50        ZHDC & MEOAG               2006         2006 - closed   OEE Linked Deposit
                                                                                                 Edinboro Family
                             PNC                                                                 Homes, Corp.;
Edinboro Family Homes        Multifamily                          TC2005-625           29        HANDS                      2005         n/a             FHLB
                                                                                                 Uniontown Family
                             PNC                                                                 Homes, Corp.;
Uniontown Family Homes       Multifamily                          TC2007-435           30        FCCAA                      2007         n/a             FHLB; DCED; Act 137
                                                                                                 PIRHL Danville LLC &
                             PIRHL                                                               Danville Family
Danville Family Homes        Holdings, LLC                        08-TC-016           40         Housing Corp.;             2008         n/a             State HOME
                                                                                                 PIRHL Uniontown
                             PIRHL                                                               LLC & Uniontown
Uniontown Senior Housing     Holdings, LLC                        TC2009-604          36         Senior Housing GP          2009         n/a             TCE, TCAP, FHLB
                                                                                                 Millcreek Family
                             Northwest                                                           Townhomes GP
The Woodlands at Zuck Park   Savings                              TC2010-629          30         Corp.; HANDS               2010         n/a             TCE, PennHOMES
                                                                                                 Cumberland Family
                             Boston                                                              Homes II GP Corp.;
Cumberland Family Homes II   Financial                            ??                  25         Interfaith Housing         2010         n/a             RHPP




Page 57 of 60
IN WITNESS WHEREOF, the undersigned has caused this document to be duly executed in its name on

                       this                          day of




                              Legal Name of Actual or Proposed Ownership Entity




                BY:
                              Authorized Signator - General Partner



                              Print Name



                              Title



                              Organization



        STATE OF                                                :
                                                                :       ss:
        COUNTY OF                                               :

        BEFORE ME, a Notary Public in and for said County and State, personally appeared the above-named

                                                                                    , the
                              AUTHORIZED SIGNATOR                                                              TITLE
        of                                                              a(n) Ohio
                              NAME OF COMPANY                                                  TYPE OF COMPANY


        who acknowledges that he/she is an authorized signator of said company, and did sign the foregoing instrument

        on behalf of                                                    and that the same is his/her free act and deed.
                                                NAME OF COMPANY


        IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal         this ________day of ____________, 20   .




Page 58 of 60
This sheet contains information used for calculating AHFA formulas




Page 59 of 60                                                        Revised February 13, 2009
Page 60 of 60   Revised February 13, 2009

				
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