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Template Common Wall Agreement document sample
Document Sample
v.3.0
04/25/2011 - V1
Programs
Electronic Application ARIF x
Must be saved as BL
a 97-2003 Minnesota Multifamily Rental Housing Common Application CF
##### YES Multifamily Underwriting Division DM x
workbook (xls) Submit the completed Multifamily Rental Housing MHFA USE ONLY
john 400 Sibley Street, Suite 300 Common Application form electronically at EDHC x
for macros to
St. Paul, MN 55101-1998 https://online2.mhfa.state.mn.us/rfp-upload/index.aspx Date: EDHCE x
work and for
App. No.: EMG x
import into our
database. MULTIFAMILY APPLICATION FORM Dev. No.: FFCC
Submission Due Date 6/14/2011 MHFA # : FHF
HTC No.: 00000 Phone Numbers GMHF
This form is used for multifamily first mortgage loan programs, deferred loans and housing tax credits. HDO: HOM x
Click where appropriate :
ARCH: HOPWA x
Application Funding Modification Initial Closing/Closing HTC 8609 HMO: HTF x
Selection Meeting HTC Carry ov er Final Closing Round: HTFT x
Board Select/Approv al LMIR Commitment Deferred Final IHA
IIH x
I. PROPOSAL REQUEST LHIA
A. DEVELOPMENT LOCATION: LIHC
Check if this project will hav e multiple buildings. FALSE LMIR
Development Name/Program Name: MARIF x
MECF
Street Address: Latitude: MHOP
PARIF x
City: Zip: County: Longitude: POPSHP
ARIF
B. APPLICATION REQUEST: BL
Amount of funds requested at this time: Housing Tax Credits Only
Complete Sections Issuance Date
Super RFP(Deferred Loans) I-VIII NA Reserv ation
* LMIR First Mortgage $0 I-VIII Carry ov er
* Housing Tax Credits $0 I-IX 8609
GO Bonds Rent Assistance I-VIII Tax Exempt Bond Credits
Operating Subsidy I-VII Type of Credits
MN DEED I-VII Allocator
GO Bonds
Have you also submitted a single family application this round?
* Requires submission of separate application fees. See instruction page. Check(s) enclosed in the amount of:
Hav e y ou prev iously applied for and/or receiv ed any of the following funds for this dev elopment?
Housing Tax Credits only - check one.
Yes No
If yes, complete below first request HOPWA - Capital
Year Amount Awarded Loan No. HOPWA - Rent Assistance
MHFA Single Family Homes RFP supplemental request HOPWA - Intervention
HOPWA - Operating Subsidy
MHFA Multifamily RFP (Deferred) repeat request - not selected HOPWA - Other
MHFA First Mortgage
Project Based Rental Assistance
Housing Tax Credits Allocator
C. HOUSING AND POPULATION TYPE
# Units in # Units in
Development
# RFP Units
Development
# RFP Units # LTH Units
Type of Housing and # of units: (Fill in all that apply) Population Targeting: (Fill in all that apply):
Emergency Shelter Targeted General Occupancy
Transitional (up to 24 months) Families with Children LTH Family
Perm. Rental with Support Services Single HH with Children
Service Enriched Indv/Families of Color
Permanent Rental Youth LTH Youth
Housing Tax Credits Single Men
Rental Assistance Single Women
Metro HRA Project Based Near Homeless LTH Single
St. Paul PHA Project Based Homeless
Minneapolis PHA Project Based Long Term Homeless
HOPWA (choose type below) Elderly
Disabled Mental/cognitive
MHFA Rental Assistance (choose type below) Chemical dependency
People/families with HIV/AIDS
MHFA Operating Subsidies (choose type below) Physical disability
Developmental disability
Other (specify below) Traumatic Brain Injured
Other (specify below)
MHFA Application Form RFP/HTC1 1 1/24/2012 11:27 AM
v.3.0
04/25/2011 - V1
Programs
Electronic Application ARIF x
Must be saved as
II. DEVELOPMENT TEAM
A. DEVELOPER INFORMATION/APPLICANT INFORMATION:
Name (s): Social Security No.:
Address: Fed. Tax ID No (Not SSI):
City: State:
Zip Code:
Contact Person: E-mail:
Telephone: Fax: Cell Phone:
The dev eloper must be a legal entity (e.g. partnership, corporation etc.) or indiv idual.
Dev eloper is current owner and will retain ownership.
Dev eloper is the Project Dev eloper and will be part of the final ownership entity
Dev eloper is the project Dev eloper and will not be part of the final ownership entity . (Briefly describe the planned process and timing.)
Applicant administering program funds.
B. OWNERSHIP / PARTNERSHIP INFORMATION:
HTC Note: - The MHFA reserves tax credits to the partnership and General Partners or to the limited liability company.
Reservations are not transferable. Any change in the General Partner status requires MHFA approval.
Name (s): Fed. Tax ID No.: (not Social Security number)
Address: State:
City: Zip Code:
Contact Person:
Telephone: Fax: E-mail:
Legal Status of Ownership Entity Specify if 'Other' selected
Notes: MHFA First Mortgage program requires ownership by a single asset entity.
* POHP - requires ownership by public entity
* For HTC Applications refer to Chapter 3 of the HTC Procedural Manual
for non-profit qualifications. Requires IRS letters of 501(c)(3) or 501(c)(4) status.
Name of General Partner(s) / Contact Person Telephone Non-Profit % Ownership
0.0000%
C. DEVELOPMENT TEAM:
Name Contact Phone Fax E-mail
Processing Agent:
Attorney:
Architect:
General Contractor:
Service Provider:
Non Profit Lessee:
Management Co.:
Does an identity of interest exist between ownership Entity and General Contractor?
Yes No
Does the abov e entity currently manage the property ?
Yes Length of Time: No N/A
Will the building hav e an on-site caretak er?
Yes No
MHFA Application Form RFP/HTC1 2 1/24/2012 11:27 AM
v.3.0
04/25/2011 - V1
Programs
Electronic Application ARIF x
Must be saved as
III. DEVELOPMENT INFORMATION
A. ACTIVITY TYPE:
Type of Activity (Check all that apply):
Scattered Site Dev elopment
Acquisition
Refinance
New Construction
Rehabilitation Conv ersion/ adaptiv e re-use
Demolition Historic Preserv ation/Renov ation
Stabilization Preserv ation of Federally Assisted Housing
Rental Subsidy (please specify type: (i.e.; Sec 8))
Other (Specify )
B. BUILDING INFORMATION:
Total Site Area Sq Ft: 0 Acres Density: #DIV/0! (units/acre)
Type of Construction: Choose one
Year Built If existing: Occupied Vacant NA
Types of Structures Type of Number of Number of Number of Gross Const. Costs % of TDC
Building Buildings Stories Dwelling Sq. Feet Costs per Sq. Ft.
(1). Units (DU) (2).
Pass to FMP
Housing Space:
New Construction - 0% 0 0 <-TotalBldgs
Rehabilitation - 0%
Non-Housing Space:
Covered Parking - 0%
Administration/Programmatic - 0%
Commercial/Other (3) - 0%
TOTALS 0 0 0 $0 -
(1). Total number of residential structures.
(2). Count Basements and Balconies at 1/2 sq. footage.
(3). Other includes: common space, commercial, congregate dining, day care, etc.
Number of Parking Spaces: Surface Monthly fee
Covered Monthly fee
TOTAL 0
C. PROPERTY DESCRIPTION:
Site Control:
Does Applicant currently control the property /building? Ty pe of Existing Loan:
Yes No
Mortgage
Type of Site Control: Contract for Deed
Number of buildings currently under control: Other
If Ownership:
Purchase Price of the Property/Building: Date of Purchase: None
If Purchase is Proposed:
Date of Purchase/Option Agreement: Expiration Date of Purchase/Option Agreement:
If Leased:
Amount of Lease: Term of Lease:
If Tribal land, have approvals been received?
Developments Involving Acquisition (Check all applicable):
Buildings acquired or will be acquired from unrelated party
Buildings acquired or will be acquired from related party
Existing Subsidies:
* Are any of * Are the * Is the contract for federal
* Is the federal assistance at risk
these funds assisted units assistance at risk of expiring in
of loss due to deterioration of
Type of Subsidy Type # of Units subject to at risk of 2 years or less, or is the
the capacity of the current
long term use conversion to building at risk due to physical
ownership/management entity?
restrictions? market rents? deterioration?
0
MHFA Application Form RFP/HTC1 3 1/24/2012 11:27 AM
v.3.0
04/25/2011 - V1
Programs
Electronic Application ARIF x
Must be saved as
Existing Indebtedness on the Property/Building:
Name and Address of Original Loan Interest Term Unpaid Date of Number of Restricted to Loan to be Income Rent HUD Monthly Date of
Lender(s) of Existing Loans, Subsidies Amount Rate Balance Maturity Restricted Special Paid Off in this Limits Limits Insured Payment First
and Grants (secured and unscecured) Units Populations? Transaction ? Y or N Payment
TOTAL $0 $0 $0
Unusual Site Features: (Check all that apply):
Floodplain High-tension wires Fill
Steep ravines or grades Rock formations Creek, lake, etc.
Near airport Poor drainage High water table
Within 300 feet of railroad Unstable soil Industrial/environmental hazard
Zoning:
Is the property in compliance with current zoning requirements?
Yes No
If No, what is the proposed rezoning classification and timeline?
Does the site require annexation actions?
Yes No
Duration of the process:
Present Zoning/Classification: Max. units/acre:
Are there v ariances, conditional use permits or special use permits required?
Yes No
Is property in historic district or designated a historic building?
Yes No
Has the city approv ed the proposed Park ing Plan?
Yes No
What is the per unit parking requirement? Garage/unit Surface per unit
Utility Information:
Is or will the development be connected to the following:
Municipal Water Gas
Yes No Yes No
Provider: Provider:
Municipal Sewer Electric
Yes No Yes No
Provider: Provider:
Off-site public improv ements or substantial utility extensions necessary ?
Yes (If y es, state nature, amount and plan for construction) No
Planning and Development:
Is the proposal consistent/in compliance with one or more of the following? (Check all that apply )
Neighborhood or Community Rev italization Plan Planned Unit Dev elopment (PUD) Continuum of Care RHAG Guidelines Interagency Stabilization Group
Tax Increment Financing (TIF) Comprehensiv e Plan Other (specify ):
Jurisdictions/Political Districts:
Census Tract Number
This project is located in a Qualified Census Tract Difficult Dev elopment Area State Designated Basis Boost
State Senate District State House District RHAG Region
Congressional District Economic Development Region
MHFA Application Form RFP/HTC1 4 1/24/2012 11:27 AM
v.3.0
04/25/2011 - V1
Programs
Electronic Application ARIF x
Must be saved as ANNUAL INCOME AND EXPENSES
IV. ESTIMATED
A. HOUSING INCOME
RFP
Unit Monthly
Approx. Size Proposed Estimated Cost Total Rooms
Type Total Annual Gross Rent
(Net Rentable Monthly of Monthly Rental Rooms (# of Units x Rent Limit (% Income Limit Owner Owned units owned units
PHA sgft $ rooms units Owner Owned sf
(0BR, # of DU Contract Rent (Proposed Unit Type* Program Sub Program
Sq. Ft.) of Contract Rent Utilities Paid by Per Unit*** Rooms Per of AMI) (% of AMI)
1BR, (# x rent x 12) Contract Rent
Units Per Unit Occupant Unit)
2BR, + Utilities)
etc.)
$0 $0 0.0 0 0 0 0 0 0 0BR/SRO 0 0
$0 $0 0.0 0 0 0 0 0 0 1BR 0 0
$0 $0 0.0 0 0 0 0 0 0 2BR 0 0
$0 $0 0.0 0 0 0 0 0 0 3BR 0 0
$0 $0 0.0 0 0 0 0 0 0 4BR 0 0
$0 $0 0.0 0 0 0 0 0 0 5BR 0 0
$0 $0 0.0 0 0 0 0 0 0 6BR 0 0
$0 $0 0.0 0 0 0 0 0 0 Beds 0 0
$0 $0 0.0 0 0 0 0 0 0 0 0
$0 $0 0.0 0 0 0 0 0 0 0
$0 $0 0.0 0 0 0 0 0 0 0
$0 $0 0.0 0 0 0 0 0 0 0
$0 $0 0.0 0 0 0 0 0 0 0
$0 $0 0.0 0 0 0 0 0 0 0
$0 $0 0.0 0 0 0 0 0 0 0
$0 $0 0.0 0 0 0 0 0 0 0
UNITS: 0 0 TOTAL GRP: $0 TOTAL ROOMS: 0 *** Eff/SRO. = 2.5 rooms 0 0 0 0 0 0
1 BR = 3.5 rooms Non-MHOP Totals 0 0 0 0
* Indicate if: HTC, HOME, Market Rate (MR), Employee Occupied (EO), Owner Occupied (OO), 2 BR = 4.5 rooms
Project Based Assistance (PBA), Hollman (MHOP), Federally Assisted (FA) 3 BR = 6.0 rooms
4 BR = 7.0 rooms
Utilities to be paid by Occupant (Excluding Telephone): 5 BR = 8.5 rooms
6 BR = 9.5 rooms
Water & Sewer Heat -Ty pe: Bed = 2.0 rooms
Hot Water Air Conditioning
Household Electric Other-Specify :
Source of Utility Allowance Calculation (Treasury Reg 1.42-10, rev ised 07/29/08)
Public Housing Authority Other (Specify )
Percentage of Total
Utility Company Effective Date of Source of Information: #DIV/0! #DIV/0! Units
#DIV/0! #DIV/0! Square Feet
1. GROSS POTENTIAL RENT: Total
a. Rental Housing Potential $0 $0 $0
b. Parking/Garage Rent Potential
# of surface parking 0 Monthly fee $0
# of covered parking 0 Monthly fee $0 $0 $0
c. Commercial Rent Potential (specify) $0
d. Miscellaneous Rent Potential (specify) $0
e. Gross Potential Rent (Total Lines 1a thru 1d) $0 $0 $0
2. RENTAL LOSS: Total
a. Rental Housing Vacancy
Vacancy Factor 7.0% x Line 1a = $0 $0
b. Parking/Garage Vacancy
Vacancy Factor x Line 1b = $0 $0
c. Commercial Vacancy
Vacancy Factor x Line 1c = $0 $0
d. Miscellaneous Unrealized Income $0
e. Employee Rent Credits $0
f. Out of Service Units $0
g. Rental Concession Adjustments $0
h. Bad Debt $0
i. Total Rental Loss (Total Lines 2a thru 2h) $0 $0 $0
3. NET RENTAL COLLECTIONS: (Line 1e. minus 2i.) $0 $0 $0
MHFA Application Form RFP/HTC1 5 1/24/2012 11:27 AM
v.3.0
04/25/2011 - V1
Programs
Electronic Application ARIF x
Must be saved as OTHER INCOME:
4. Total
a. Tenant Fees $0
b. Other Income
Laundry Equipment: $/DU/Year $0 $0
Other (Specify) : $0 Annual Tax Increment Financing (TIF) Receipts:
$0
c. Total Other Income (Total Lines 4a thru 4d) $0 $0 $0
NOTE: FOR HTC ONLY
If there is a separate charge for tenant facilities, offices, parking, garages, club house, swimming pool,
storage lockers, etc., the associated costs are not included in eligible basis.
5. TOTAL REVENUE (Lines 3 plus 4e.) $0 $0 $0
B. ANNUAL OPERATING EXPENSES: Total
1. ADMINISTRATIVE EXPENSES
a. Advertising and Marketing a. $0
b. Management Fee (based on 100% occupancy)
$/Unit/Month Fee: $0.00
% of Total Revenue: 0.0% b. $0 $0
c. Legal c. $0
d. Auditing d. $0
e. Telephone e. $0
f. On-Site Management Payroll f. $0
g. Other Administration g. $0
h. Total Administration (Total Lines 1a thru 1g) $0 $0 $0
2. MAINTENANCE EXPENSES
a. Elevator Maintenance / Contract a. $0
b. Exterminating b. $0
c. Rubbish Removal c. $0
d. Other Contract Services d. $0 $0 Operating & Maintenance total for Valuation tab
e. Janitor Supplies e. $0 $0 Soft Costs for Sources & Uses tab
f. Maintenance Supplies f. $0 $0 Financing Costs for Sources & Uses Tab
g. Grounds Maintenance g. $0
h. Snow Removal h. $0
i. Heat & A/C Repair Services i. $0
j. General Repair Services j. $0
k. Paint/Decorating Materials k. $0
l. Maintenance & Jan. Payroll l. $0
m. Other Maintenance and Operating m. $0
n. Other: n. $0
o. Total Maintenance (Total Lines 2a thru 2n) o. $0 $0 $0
3. UTILITIES
a. Electricity a. $0
b. Water & Sewer b. $0
c. Gas and Oil c. $0
d. Total Utilities (Total Lines 3a thru 3c) d. $0 $0 $0
3.5 UNIQUE OPERATING EXPENSES For Supportive Housing 3.5. $0
4. INSURANCE 4. $0
5. TOTAL MANAGEMENT AND OPERATING EXPENSES
(Add Lines B.1h, B.2o, B.3d, B.3.5 and B.4) $0 $0 $0
a. Total Mgmt. and Operating Expenses Per Unit Per Mo. (Line B.5 / Total # Units / 12) $0 $0 $0
b. Total Mgmt. and Operating Expenses Per Room Annually (Line B.5 / Total # Rooms) M
$0 & O $/Unit/Year = $0.00 $0 $0
6. RESERVES AND ESCROWS Total
LIRC Calculation
a. Real Estate Taxes - $ Per Unit $0 X # Units= LIRC PILOT $0 IF YOU KNOW MARKET VALUE & TCR
Current Assessed Market Value
Proposed Market Value after Rehab Market Value $0 $ - $ -
Expected LIRC percentage Tax Capacity Rate 0% 0%
b. Replacement Reserve -$ Per Room X # Rooms= $0 $0 Normal Class Rate 1.0% 0.0%
c. Painting & Dec. Reserve - $/ Room X # Rooms= $0 RR and PD Reserves = $0.00 $0 Non-LIRC Property Tax $0 #DIV/0! $ - $ -
d. Miscellaneous Reserves -$ Per Room X # Rooms= ########### $0
e. Total Reserves & Escrows (Total Lines a thru d) $0 $0 $0 #REF!
7. EFFECTIVE GROSS EXPENSES (Add lines B.5 and B.6e) $0 $0 $0 Qualifying % 0%
(Total Mgmt. and Operating Expenses plus Reserves and Escrows) $0 LIRC Tax $0 #DIV/0!
8. NET OPERATING INCOME (Line A.5, Total Revenue, minus Line B.7) $0 $0 $0
MHFA Application Form RFP/HTC1 6 1/24/2012 11:27 AM
v.3.0
04/25/2011 - V1
Programs
Electronic Application ARIF x
Must be saved asSUPPORTABLE MORTGAGE
V. MAXIMUM Savings $0 #DIV/0!
A. Net Operating Income (Line IV.B.8) - (If zero ($0) or minus, skip this section and go to Section VI.) $0
B. Debt Coverage Ratio 1.2000
C. Net Operating Income Available for Debt Service Negotiated DCR
(Net Operating Income divided by Debt Coverage Ratio $0
1. Temporary Income
2. Total Net Operating Income Available for Debt Service $0
D. Annual Debt Service for proposed Subordinated Debt, if any:
Other Amortized Subordinated Debt:
Amortization Annual Debt
Lender Principal Rate Term
Term Service
MHFA LMIR TIF Loan
MHFA LMIR IRP Loan
Total Annual Subordinated Debt Service: V.D $0
E. Total Net Operating Income Available for Debt Service less Total Annual Subordinated Debt Service
(Line V.C.2 minus Line V.D) $0
F. Estimated Maximum Mortgage Based on Income Approach:
1. First Mortgage Terms Amortization:
Term: Years Rate: Years: MIP Rate:
a) Debt Service Factor 0.000000000
b) Plus Annual Fee - Type: Annual Fee
c) Total Debt Service Factor 0.000000000
2. Maximum Mortgage $0 Negotiated Mortgage
(Net Operating Income ( V.E) divided by Total Debt Service Factor ( V.F.1.c)
3. Net Mortgage Loan (Maximum Mortgage divided by 1.04)
(Applies to MHFA 1st Mortgage loans only) $0
4. Development Cost Escrow (DCE) $0 Manual DCE
(Maximum Mortgage minus Net Mortgage Loan) (Line V.F.2 minus Line V.F.3)
VI. DEVELOPMENT COST
Tax Credits Only
A. Acquisition or Refinance Existing Debt Costs: Sub Totals Total Costs 30% PV Basis 70% PV Basis
1. Acquisition/ Refinance
a) Land a.
b) Existing Structures b.
c) Demolition c.
Total Acquisition/ Refinance $0 $/DU
2. Special Assessments 2.
3. Other (specify :) 3.
4. Total (Lines 1 through 3) 4. $0 0 0 <-Subtotal
B. If New Construction, complete Section #1 below. If Rehabilitation, complete Section #2 below:
*For HTC ONLY: IF a separate fee is charged for use of these facilities, the associated costs are not included in eligible basis.
"+" Denotes Intermediary Costs
1. New Construction
a) Residential $0.00 $/gross sq. ft. = a.
b) Garages* $0.00 $/stall = b.
c) Accessory Structures* $0.00 $/gross sq. ft. = c.
d) On Site Work $0 $/DU = d.
e) Off Site Work $0 $/DU = e.
f) Specify Other: f.
g) Specify Other: g.
h) Net Construction $0 $/DU = h. $0
(Total Lines B.1.a. thru B.1.e.)
i) General Requirements 0.00% % of Line B.1.h = i.
j) Builder's General Overhead j.
0.00% % of Line B.1.h =
k) Builder's Profit 0.00% % of Line B.1.h = k.
l) Gross Construction (Contract Amount)
(Total Lines 1.h thru 1.k) $0 $/DU = l. $0
m) Construction Contingency (Minimum 4%, subject to MHFA review) m. $0 Manual NC Contingency
n) Total (Lines 1.l plus 1.m) n. $0 0.00% NC Contingency does not meet Agency minimum. 0 0 <-Subtotal
MHFA Application Form RFP/HTC1 7 1/24/2012 11:27 AM
v.3.0
04/25/2011 - V1
Programs
Electronic Application ARIF x
Must be saved as
2. Rehabilitation: (if available attach a more detailed scope; otherwise, complete this section).
a) Site work: (grading, paving, drainage, landscape, utilities, etc.) a.
b) Exterior: (includes roof, siding and trim, windows and doors, etc.) b.
c) Garages* $0.00 $/garage = c.
d) Accessory Structures* $0.00 $/gross sq. ft. = d.
e) Interior: (includes cabinets, appliances, fixtures, and wall, e.
ceiling, and floor finishes, etc.)
f) Mechanical Systems: (includes heating, air conditioning, f.
plumbing, and fixtures, etc.)
g) Electrical Systems: (includes service, wiring, and fixtures) g.
h) Specify Other: h.
i) Specify Other: i.
j) Net Rehab (Total Line B.2.a thru B.2.i.) j. $0
k) General 0.00% (% of Line B.2.j) k.
Requirements
l) Builder's General 0.00% (% of Line B.2.j) l.
Overhead
m) Builder's Profit 0.00% (% of Line B.2.j) m.
n) Other - Specify: n.
o) Gross Rehabilitation (Contract Amount) (Total Lines B.2.j thru B.2.n)
$0 $/DU = o. $0
p) Construction Contingency (Minimum 7%, subject to MHFA review) p. $0 Manual Rehab Contingency
q) Total (lines 2o plus 2p) q. $0 0.00% Rehab Contingency does not meet Agency minimum. 0 0 <-Subtotal
3. Environmental
a) Abatement Contract a.
b) Abatement Contingency (Agency determined) b.
c) Total (Lines 3a plus 3b) c. $0
C. Soft Costs Intermediary Costs
1. Professional Fees & Other Soft Costs Enter Manual Design Fee below
a) Architect's Fee - Design ( 75% of Total ) + a. $0 $0 75% Manual Design Fee
b) Architect's Fee - Supervision ( 25% of Total ) + b. $0 $0 25% Manual Supervision Fee
Total Architect's Fee -
0.0% of the total lines B.1.l + B.2.o - C.1.e - C.1.f
c) Marketing + c. $0
d) Surveys and Soil Borings d.
e) Payment & Performance Bond Premium + (if not included in construction contract) e. $0
f) Building Permit(s) + (if not included in construction contract) f. $0
g) Sewer-Water Access Charge g.
h) Appraisal Fee + h. $0
i) Energy Audit + i. $0
j) Environmental Assessment + j. $0
k) Cost Certification/Audit + k. $0
l) Market Study + l. $0
m) Tax Credit Fees + m. $0
n) Compliance Fees + n. $0
o) Furnishings and Equipment o.
p) Legal Fees + p. $0
(Syndication and permanent financing fees are not allowed in basis.)
q) Relocation Costs +: Relocation Costs q. $0
r1) Other Fees - Specify: r1. Enter if Other Intermediary Cost
r2) Other Fees - Specify: r2. Enter if Other Intermediary Cost
s) Total (Lines 1.a thru 1.r) s. $0
2. Developer's Fee
a) Developer's Fee + a. $0
1) Deferred Developer's Fee
2) Dev's Fee avail thru const completion $0
b) Processing Agent + b. $0
c) Other Consultant Fees (included in Dev. Fees) + c. $0
d) Other (Specify) d. Enter if Other Intermediary Cost
e) Total Developer's Fees 0.0% e. $0
% of Line VI.D - Line VI.C.2.e
3. Tax Credit Syndication Fees
a) Organization Fees + a. $0
b) Bridge Loan + b. $0
c) Tax Opinion + c. $0
d) Other Fees: d. Enter if Other Intermediary Cost
e) Total (Lines 3.a thru 3.d) e. $0
MHFA Application Form RFP/HTC1 8 1/24/2012 11:27 AM
v.3.0
04/25/2011 - V1
Programs
Electronic Application ARIF x
Must be saved as
4. Financing Costs
a) Hazard and Liability Insurance a.
b) Construction Int. at: + months b. $0
c) Taxes during construction + c. $0
d) Agency Inspection Fee ( MHFA First Mortgage Only) d. $0 $0 Enter Manual Insp. Fee
(1% of gross construction cost. See VI.B.l.) +
e) Other Inspection Fee + e. $0
f) MHFA Origination Fee (2% of 1st $5m. then 1%. $25K min. fee.) + f. $0 $0 Enter Manual Orig. Fee
g) Other Origination Fee (Permanent financing fee not eligible for basis.) + g. $0
h) Mortgage Insurance Premium + h. $0
i) Revenue Bond Premium + i. $0
j) Title and Recording + j. $0
k) MHFA DCE (Line V.F.4) k. $0
l) Other: Specify l. Enter if Other Intermediary Cost
m) Other: Specify m. Enter if Other Intermediary Cost
n) Other: Specify n. Enter if Other Intermediary Cost
o) Total Financing Costs (lines 4.a thru 4.n) o. $0 $0
D.Total Mortgageable Costs (TMC)
(Total of subtotal lines) $0 per unit D. $0 $0
E. Non-Mortgageable Costs (For example: Syndication Reserves)
a. Specify: 1.
a. Specify: 2.
a. Specify: 3.
4. $0 0.00 0.00
F. Total Development Cost (TDC) $0.00 $0 F. $0 $0 $0 $0 0.00 0.00
(Total lines VI.D and VI.E) Per Sq Ft Per Unit $0 $0.00 $0.00 0.00 0.00
G. Total Basis for Tax Credits (Sum of 30% + 70% PV Basis) G. $0 $0 $0
H. Total Intermediary Costs H. $0 0.000%
VII. FUNDING REQUIREMENTS:
A. Capital Sources of Funding: Maximum Mortgage $0 **Check to include in Housing Tax Credit
Calculated Gap $0 $0 (HTC) gap calculation MHFA USE ONLY
Name of Source Term Rate Amount Per Unit Committed? HTC Gap** Finance Type Program Units Pay Out Order Sub Program ADS Deferred? Loan ID Fund Source MHFA Fee/M
1 LMIR 1st Mortgage $0 Yes Yes 15 $0 $0.00 - 0 0
2 General Partner Cash $0 Yes 1 - 0 0
3 Syndication Proceeds* Deferred Proc.-> $0 Yes 4 - 0 0
4 $0 Yes Yes 2 $0 Deferred - 0 0
5 $0 Yes Yes 3 $0 Deferred - 0 0
6 $0 Yes Yes 5 $0 Deferred - 0 0
7 $0 Yes Yes 6 $0 Deferred - 0 0
8 $0 Yes Yes 7 $0 Deferred - 0 0
9 $0 Yes Yes 8 $0 Deferred - 0 0
10 $0 Yes Yes 9 $0 Deferred - 0 0
Yes Yes
11 $0 10 $0 Deferred - 0 0
12 $0 Yes Yes 11 $0 Deferred - 0 0
13 $0 Yes Yes 12 $0 Deferred - 0 0
14 $0 Yes Yes 13 $0 Deferred - 0 0
15 $0 Yes Yes 14 $0 Deferred - 0 0
Total of Permanent Financing $0 $0 0 $0 - 0 0
* HOUSING TAX CREDIT ONLY: List syndication proceeds from historic credits separately.
** HOUSING TAX CREDIT ONLY: Check yes for sources of financing which must be included in the HTC equity gap calculation.
B. Non-Capital Sources of Funding
Type of Source Name of Source Term # of Units Amount $ per Unit
$0
$0
$0
$0
Total Non-Capital Financing 0 $0 $0
C. Effective Rate of all Minnesota Housing's financing, blending amortizing and deferred loan rates
D. Other Requirements
1. Working Capital Escrow (3% of MHFA Net Mortgage)*
MHFA 1st mortgage only $0 Manual Working Capital escrow
2. Rent Up Escrow (3% of MHFA Net Mortgage)*
MHFA 1st mortgage only with unoccupied building $0 Manual Rent Up Escrow
3. Insurance Escrow ( MHFA determines $) for MHFA 1st Mortgage
4. Other - List:
5. Other - List:
*Can be Cash or Letter of Credit.
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Must beE. Maximum Allowable Return on Equity
#VALUE!
$0 Manual Max Allowable Return on Equity
F. Other Conditions:
G. Regulatory Cost Avoidance/Cost Reduction
1. Regulatory Incentive - The following worksheet must be completed
for each project that includes Regulatory Incentives
which reduce the cost of producing affordable housing. FOR MHFA USE ONLY
Incentive Cost Savings Total Cost Dev s with sy ndication proceeds Option 1 Amt $0.00 15% of owner cash, Line VII.A.2, plus 15% of syndication proceeds, Line VII.A.3
Per Unit Savings
Option 2 Amt $0.00 1.5% of (TMC, Line VI.D minus Developer Fee, Line VI.C.2e)
Dev s with no sy ndication proceeds
x Option 3 Amt $0.00 1.5% of (TMC, Line VI.D minus Developer Fee, Line VI.C.2e)
Option 4 Amt $0.00
Dev s with de minimus amt. of sy ndication proceeds
Manual Entry - enter at Line VII.F
2. Local Contributions - Value of donations that do not appear as a funding source. Sources must
be listed below for inclusion in HTC scoring for Local Contributions. Includes land donation, in-
kind contributions and donations of labor, materials, services, etc.
0
Source Contact Type Value of
Donation
/
VIII. AFFIRMATIVE ACTION REQUIREMENT
The Minnesota Human Rights Act states that any person or organization having 40 or more employees in the last 12 months in the State
of Minnesota and involved in any transaction of $100,000 or more with state agency must have Affirmative Action Plan approved by the
State Department of Human Rights. Therefore, no applications for $100,000 or more will be accepted unless they include either:
A. A Certificate of Compliance from the State Department of Human Rights (For information call 651-296-5663)
(for organizations with 40 or more employees); or
B. A notarized statement stating that the applying organization has had less than 40 employees in the State
of Minnesota in the last 12 months.
C. Provide information on how you intend to make opportunities available for women-owned or minority-
owned business enterprises.
This application is submitted by the undersigned with the full knowledge and consent of the governing body and is accurate in all details, to
the undersigned's best knowledge.
Signature Date
The Minnesota Housing Finance Agency does not discriminate on the basis of race, color, national origin, sex, religion, age, or disability
in employment or the provision of services.
Equal Opportunity Housing and Equal Opportunity Employment
Comments
Submit the completed Multifamily Rental Housing Common Application form electronically
at https://online2.mhfa.state.mn.us/rfp-upload/index.aspx
The Minnesota Housing will accept only one copy of the completed final Application Form.
IF YOU ARE NOT REQUESTING TAX CREDITS Do not send incomplete or preliminary Application Forms.
STOP AT THIS POINT.
The Application Form that is electronically submitted to the Minnesota Housing must be
identical to the original signed Application Form submitted to the Minnesota Housing.
Minnesota Multifamily Rental Housing Common Application forms willnot be accepted
after 5:00 pm on the application submission date.
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IX. HOUSING TAX CREDIT / APPLICATION
NOTE: Do not attempt to complete this application without reading the MHFA Tax Credit Procedural Manual, and Section 42
of Internal Revenue Code. An incomplete Form RFP/HTC-1 will not be accepted and will be returned to the applicant/developer.
A. SET-ASIDE OF HOUSING CREDIT REQUESTED:
Please check the appropriate set-aside. (HDS Rank ing Groups) (Nonprofits must sign application):
* Qualifying Non-Profit must materially participate in
Greater MN For-profit Greater MN Non-profit * Rural Dev elopment/Small Project ownership/management of the development in a
Metro For-profit Metro Non-profit * Tax Exempt Bond manner meeting requirements of Sec.469(h) of IRS Code.
Requires IRS letters of 501(c)(3) or 501(c)(4) status
or appropriate equivalent designation approval from the IRS.
B. TYPE OF HOUSING CREDIT REQUESTED:
Newly constructed and not federally subsidized Newly constructed and federally subsidized
Rehabilitation expenditures not federally subsidized Rehabilitation expenditures federally subsidized
Existing building Allocation subject to non profit set aside under sec. 42 (h)(5)
C. MINIMUM SET ASIDE:
At this time the owner "irrevocably" elects one of the minimum set aside requirements stated by
Section 42 of the Internal Revenue Code
Check one only
20% of the units serv ing households at 50% of the area median
40% of the units serv ing households at 60% of the area median
D. ESTIMATED PROJECT APPLICABLE FRACTION DETERMINATION:
1. Complete the section below for tenant facilities/amenities:
Type of use in all buildings # of Units Sq. Ft.
Common Space - Non unit Fee Included in Number Residential rental units in all bldgs
Sq Ft
Basis?
Parking/Garages Total commercial use
Storage Lockers List common use units below
Club House Full time caretaker unit
Swimming Pool Full time resident mgr unit
Community Service Facility Tenant Service Facility
Office Office
Other Hollman (PHA owned only)
2. Complete the section below for Applicable Fraction: Owner-occupied residential unit
Type of Residential Rental Units # of Units Sq. Ft. Community service facility
A. HTC Low Income Units TOTAL 0 0
B. Market Rate Units/non HTC units
C. TOTAL # HTC LOW INCOME + MARKET RATE 0 0 HOME Units
D. Unit and Area Fractions (A. divided by C.) 0.00% 0.00% Project-based assisted units (included in HTC only)
E. APPLICABLE FRACTION (lesser of unit 0.00% Hollman (owner retains ownership only)
or area fraction Line D above) Other low income (specify):
F. Employee/Common Space Units* TOTAL LOW INCOME UNITS
G. Total # and sq ft of Units 0 0
0 <-CommonSpaceUnits
* A fulltime resident manager’s or caretakers unit is considered an employee/common space unit and must not be included in the numerator or denominator
for calculating the applicable fraction.
Use the applicable fraction in number IX.D.2.E above when calculating qualified basis in number IX.H below.
At placed-in-service, calculation of the actual credit amount and compliance monitoring is done on a building-by-building basis and will be based
on the targeted applicable fraction set forth on the Building Map.
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Must beE. ACQUISITION/REHABILITATION:
1. Total Rehabilitation Expense (Line VI.B.2.q) $0 Manual Total Rehab Expense
2. Lowest avg. rehabilitation attributable qualified basis per low income unit/bldg. (in 5. below, you must complete details for all buildings)
3. Average rehabilitation expense per low income unit per project $0
4. Adjusted basis x 20% = $0
Rehabilitation expenditures must equal the greater of:
- An average of $6,000 in qualified basis per low income unit for a building increased annually by a cost of living adjustment per Section 42(e)(3)(d).; or
- An amount that is not less must be the greater of $5,000 low of the building as determined pursuant to Section 42(e)(3);
Rehabilitation expenditure than 20 percent of the adjusted /basis income unit / project (Minnesota Statute 462.A.221) or $3,000 rehabilitation attributable qualified basis / low
- and -
- Average at least $5,000 per unit (Minnesota Statutes Section 462A.221, Subdivision 5)*.
*In Greater Minnesota and Qualified preservation projects, the $5,000/unit/project is of applicable.
income unit / Building or qualifying rehabilitation expenditures not less than 10% notadjusted basis/building (42(e)(3)(A)(ii)(I) In Greater Minnesota and Qualified preservations,
the $5,000 / unit / project is not applicable.
5. Complete the following:
1 2 3 4 5 6 7 8
Average
Number of Years
Actual / rehabilitation
Date of Between Placed
Address of Building Date of Date of Original Proposed Date Is 10 year rule attributable
Substantial In Service (Later
(one line per building) Acquisition by Certificate of of violated for this qualified basis
Rehabilitation of column 2, 3,
Seller Occupancy Rehabilitation project? per low income
by Seller or 4) and
by Applicant unit for this
Rehabilitation
building
Total Buildings 0 Manual Total Buildings
6. If less than 10 y ears since last placed in serv ice, is the project eligible for a waiv er from the Secretary of U.S. Department of the Treasury .
Yes No N/A Due to Section 42(d)(6)
If 10 year rule is violated, actual or proposed waiver date?
7. Are any of the buildings owner-occupied single family dwellings?
F. OTHER BASIS CONSIDERATIONS:
1. Will any of the project financing be treated as or considered to be a Federal grant, tax-exempt obligation (Code Sec.103)?
Yes No
If yes, complete the following: If yes, complete the following:
Source of funds Source of funds
Amount Amount
If y es, elect one of the following options If y es, elect one of the following options
NA NA
4% credit 4% credit
Subtract from basis Subtract from basis
2. Will the dev elopment basis include a community serv ice facility ?
Yes No
If yes, all the following conditions must be met:
* project located in Qualified Census Tract
* eligible basis of the facility cannot exceed (a) 25% of so much of the eligibile basis of the project as does not
exceed $15,000,000 plus (b) 10% of so much of the eligible basis of the project as is not taken into account under (a).
See Sec 42( c)(4)(C)(i), (ii), (iii)
* facility must be designated to serve primarily individuals including tenants and non-tenants with incomes of 60% AMI or less.
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Must beG. TAX EXEMPT BOND FINANCING:
Are tax exempt bonds to be issued?
Note: Applicants requesting tax credits in conjunction
Yes No
with tax credit bond financing must complete and submit to MHFA
If yes, complete the following: all documents required in the MHFA Housing Tax Credit Qualified Allocation Plan
Article 9.
Total Aggregate Basis
Total tax exempt bonds
Name of bond issuer
Date of allocation of bond volume cap
H. DETERMINATION OF TAX CREDIT:
1. Tax Credit Basis Calculation COMPLETE FOR TAX CREDITS
30% PV 70% PV
Basis Basis
A. TOTAL BASIS (Section VI.G) A. $0 $0
Less portion of federal grant used to finance qualifying
development costs. List Grants:
Name Amount
Total $0
Less amount of nonqualified nonrecourse financing
Less nonqualifying units of higher quality
Less nonqualifying excess portion of higher quality units
Less Historic Tax Credit (Residential Portion Only)
B. TOTAL ELIGIBLE BASIS B. $0 $0
Portion of above Basis 30% 70%
NOT ELIGIBLE for High Cost Adjustment $0 $0
High Cost Adj. ( If applicable, check Qualified Census Tract, DDA or SDBB box in Section III.C )
Total Eligible Basis Adjusted for the High Cost $0 $0
Multiplied by the Applicable Fraction (Section IX.D) 0.0000 0.0000
$0.00
C. TOTAL QUALIFIED BASIS C. $0.00 $0.00
Multiplied by the Applicable Percentage
D. TAX CREDIT POTENTIAL FOR PROJECT D. $0.00 $0.00
E. ANNUAL TAX CREDITS REQUESTED THIS APPLICATION E. $0
(Sum of 30% & 70% PV Basis Columns)
PLEASE NOTE: The actual amount of credit for the project is determined by the housing credit agency at each evaluation stage.
If the project is eligible for Historic Tax Credit include a complete breakdown of the determination of eligible basis for the
Historic Credit with the application.
If the Project's basis has been adjusted because it is in a high cost or qualified census tract, the subsequent deduction for item(s)
to remove them from basis must be adjusted by multiplying the amount by 130%. (This does not apply to Historic Tax Credits.)
High cost/qualified census tract adjustment cannot be made to the acquisition basis of an acquisition/rehab type project.
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Applicable Sources from funding requirements VII.A. sources of funding.
Source Amount
0 $0.00
0 $0.00
0 $0.00
0 $0.00 To add or remove an entry from
0 $0.00 this table, check or uncheck the associated
0 $0.00 box labeled "HTC Gap" in the Sources of Funding table
0 $0.00 Section VII.A located below cell I611.
0 $0.00 TDC Total Dev
0 $0.00 0 $0 $0
0 $0.00 0 New Construction Contingency Test NOT OK
0 $0.00 0 Rehab Contingency Test NOT OK under_limit over_limit
0 $0.00 0 Units Under Over Prorate Mrtgble Costs Avg/unit Total Max Fee
0 $0.00 TRUE New Units 0 0 0 100.000% $0 $0 $0.00 $0.00 $0.00
a. Total Sources of Funds above $0.00 0 Rehab > 5000 0 0 0 0.000% $0 $0 $0.00 $0.00 $0.00
b. Total Development Costs $0.00 (Section VI.F.) 0 Rehab<5000 0 0 0 0.000% $0 $0 $0.00 $0.00 $0.00
c. Funding Gap $0.00 (a minus b) 0 Under limit Units Over limit units Max TOTAL 0 0 0 $0.00 $0.00 $0.00
d. Equity Factor (0.0000) = 0 Developer FeeTest #DIV/0! 0.00% 0.00% $0 #DIV/0!
e. 10 Year Credit Gap $0.00 (c divided by d) Identity of Interest Test NA $0 OK Total Dev Fee $0 $0
f. Annual Credit Gap $0 (e divided by 10) Gen.Req.Overhead & Profit Test #DIV/0! $0 #DIV/0! Prorated Costs $0 $0
g. Annual Basis Credit $0 (from 1.E) Intermediary Costs Test #DIV/0! Percent 0.00% 0.00%
Maximum Tax Cre dit Allowe d $0 (the lower of line f or line g above.)
Requesting waiv er of limit.
MHFA Approved Maximum Tax Credit $0 MHFA Use Only
Credit Amount Previously Allocated and/or reserved: Annual Tax Credit Approved
Date Amount
Maximum Credit Requested AT THIS TIME: $0 Manual Max Credit
I. TAX CREDIT SYNDICATION:
Tax Credit Syndication (Provide as much information as is available at time of application.)
1. Will the Tax Credits be offered to investors?
If no, attach a description explaining how the tax benefits will be used and how that will benefit the project.
If yes, answer each of the following:
Ty pe of offering
Public Priv ate
Number of Annual Pay-In Periods
First Pay-in Year
Interest Rate
Pay-in Amount Describe the structure of syndication proceeds Reserve Requirements Description
pay in
$0 ########### Total
HTC Syndication costs will be evaluated along with other project costs. Please list all estimated or actual cost of syndication associated with the project.
2. Ten Year Gross Tax Credits* (* Project's annual tax credit amount multiplied by 10.)
3. Gross Syndication Proceeds** $0 (** Gross Syndication Proceeds entered on Sources Tables (VII.A.3), cell F614, see also cell M999). Manual Gross Syndication Proceeds
4. Equity Factor (Line 3. divided by Line 2.)
*Gross Syndication Proceeds means all syndication proceeds with the exception of upper tier transaction costs not charged to or paid to the development.
5. Does this project qualify for historic rehabilitation Credits?
If yes, answer each of the following:
What is the credit amount?
Estimated Proceeds?
Proposed Syndicators or Equity Sources:
Federal
Name(s): Address: City / State: Zip Code: Contact Person: Telephone: Fax:
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J. Statement and Certification of Applicant/Owner
Individually, or as the general partner(s) or officers of the applicant entity (hereinafter referred to as "Owner"), we are familiar with the provisions of the
Tax Reform Act of 1986 and subsequent revisions with respect to the Low Income Housing Tax Credit (HTC), and to the best of our knowledge and belief,
the applicant entity has complied, or will comply with all of the requirements which are prerequisite to issuance of the HTC by Minnesota Housing
Finance Agency (Minnesota Housing). We understand that the HTC Program will be governed and controlled by rules and regulations issued
by the Internal Revenue Service (IRS). We also understand that we must comply with the Minnesota Statutes 462A and Housing Tax Credit Program
Procedural Manual and Allocation Plan of Minnesota Housing concerning Low-Income Housing Tax Credits.
I (We) hereby make application to Minnesota Housing for allocation of HTC. The undersigned hereby acknowledges that the making of an allocation
by Minnesota Housing does not warrant that the project is deemed qualified to receive such allocation. I (We) agree that neither Minnesota
Housing nor any of its directors, officers, employees, and agents will not be held responsible or liable for any representations made to the undersigned
or its investors relating to the HTC. I (We) assume the risk of all damages, losses, costs, and expenses related thereto and agree to indemnify
and save harmless Minnesota Housing or any of its directors, officers, employees, and agents against any and all claims, suits, losses, damages, costs, and expenses
of any kind and of any nature that the Minnesota Housing may hereinafter suffer, incur, or pay arising out of its decision concerning the application for HTC
or the use of the information concerning the HTC Program.
I (We) also understand and agree that Minnesota Housing has made no representations about the effect of the tax credit upon my (our) taxes
or that of any other person connected with this project.
I (we) understand and agree that:
(1) The information requested on this application and any attachments hereto are being collected to determine eligibility of the project under Section 42.
(2) Minnesota Housing may request additional information in order to evaluate this application.
(3) An applicant who fails to complete all information requested will not be eligible for a reservation of HTC.
(4) Certain provisions of Internal Revenue Code (IRC) Section 42 and regulations thereunder and Minnesota Statute Chapter 462A may change
and as a result of said change may require the submission of additional documentation to Minnesota Housing.
(5) Information requested in this application is public data which is accessible to the public pursuant to Minnesota Statutes, Chapter 13.
I (We) hereby certify that the information contained in this application is true, correct and complete. I (We) understand that any misrepresentations
and/or fraudulent information made in this application may result in the termination of HTC by Minnesota Housing and may bar me(us) and
related parties from future program participation, and reporting of such misrepresentation and fraudulent information to the IRS.
Signature of General Partner
by:
of:
its:
Print name
of signatory,
Date
The foregoing instrument was acknowledged before me this ___________ day of ___________ , 20___ ,
by __________________________________________ , the _____________________________________
(name) (title)
of __________________________________ a ________________________________________ .
(Name of corporation)
Notary Public
Signature of Nonprofit Partner (if applicable)
by:
of:
its:
Print name
of signatory,
Date
ss
The foregoing instrument was acknowledged before me this ___________ day of ___________ , 20___ ,
by __________________________________________ , the _____________________________________
(name) (title)
of __________________________________ a ________________________________________ .
(Name of corporation)
Notary Public
MHFA Application Form RFP/HTC1 15 1/24/2012 11:27 AM
578adddd-2ec7-4f6d-b296-dca61d745d411
A B C D E F G H
Federal Tax ID
1 Role (not SSI) Name Address 1 Address 2 City State Zip
2 Development Company
3 Developer Contact
4
5 Project Owner
6 Owner Contact
7
8 General Partner 1
9 General Partner Contact 1
10
11 General Partner 2
12 General Partner Contact 2
13
14 General Partner 3
15 General Partner Contact 3
16
17 General Partner 4
18 General Partner Contact 4
19
20 Processing Agent Company
21 Processing Agent Contact
22
23 Attorney Firm
24 Attorney Contact
25
26 Architect Firm
27 Architect Contact
28
29 Contractor Company
30 Contractor Contact
31
32 Service Provider Agency
33 Service Provider Contact
34
35 Non Profit Lessee Company
36 Non Profit Lessee Contact
37
38 Management Company
39 Management Agent
40
41 Syndicator
42 Syndicator Contact
43
44 Syndicator 2
45 Syndicator Contact 2
46
47 Rental Assitance Administrator
48 RA Administrator Contact
49
50 Operating Subsidy Administrator
51 OS Administrator Contact
52
53 Other Entity Roles
54
55
56
57
58
59
60
61
62
63
64
65
Page 16 of 37
578adddd-2ec7-4f6d-b296-dca61d745d411
A B C D E F G H
Federal Tax ID
1 Role (not SSI) Name Address 1 Address 2 City State Zip
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
Page 17 of 37
578adddd-2ec7-4f6d-b296-dca61d745d411
A B C I J K L M N O P Q R S
Federal Tax ID
1 Role (not SSI) Name Phone Fax Email Cell Phone
2 Development Company
3 Developer Contact
4
5 Project Owner
6 Owner Contact
7
8 General Partner 1
9 General Partner Contact 1
10
11 General Partner 2
12 General Partner Contact 2
13
14 General Partner 3
15 General Partner Contact 3
16
17 General Partner 4
18 General Partner Contact 4
19
20 Processing Agent Company
21 Processing Agent Contact
22
23 Attorney Firm
24 Attorney Contact
25
26 Architect Firm
27 Architect Contact
28
29 Contractor Company
30 Contractor Contact
31
32 Service Provider Agency
33 Service Provider Contact
34
35 Non Profit Lessee Company
36 Non Profit Lessee Contact
37
38 Management Company
39 Management Agent
40
41 Syndicator
42 Syndicator Contact
43
44 Syndicator 2
45 Syndicator Contact 2
46
47 Rental Assitance Administrator
48 RA Administrator Contact
49
50 Operating Subsidy Administrator
51 OS Administrator Contact
52
53 Other Entity Roles
54
55
56
57
58
59
60
61
62
63
64
65
Page 18 of 37
578adddd-2ec7-4f6d-b296-dca61d745d411
A B C I J K L M N O P Q R S
Federal Tax ID
1 Role (not SSI) Name Phone Fax Email Cell Phone
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
Page 19 of 37
578adddd-2ec7-4f6d-b296-dca61d745d411
A B C T U V W X Y
Federal Tax ID
1 Role (not SSI) Name DESCRIP
2 Development Company ACH Fees
3 Developer Contact Administrator
4 Administrator Contact
5 Project Owner Architect Contact
6 Owner Contact Asset Manager
7 Attorney (Borrower's)
8 General Partner 1 Attorney (Limited Partners)
9 General Partner Contact 1 Attorney Contact (Borrower's)
10 Auditor
11 General Partner 2 Consultant
12 General Partner Contact 2 Contractor
13 Contractor Contact
14 General Partner 3 Developer
15 General Partner Contact 3 Developer 2
16 Developer Contact
17 General Partner 4 Developer Contact 2
18 General Partner Contact 4 Draw Payee
19 File Retention Storage Site
20 Processing Agent Company General Partner
21 Processing Agent Contact General Partner (Managing)
22 General Partner Contact (Mang)
23 Attorney Firm General Partner 2
24 Attorney Contact General Partner Contact 2
25 General Partner 3
26 Architect Firm General Partner Contact 3
27 Architect Contact General Partner 4
28 General Partner Contact 4
29 Contractor Company General Partner 5
30 Contractor Contact General Partner Contact 5
31 Guarantor
32 Service Provider Agency HUD Entity
33 Service Provider Contact Insurance Vendor
34 Investor Member
35 Non Profit Lessee Company Investor Member Contact
36 Non Profit Lessee Contact Lender
37 Lender Bank
38 Management Company Lender Contact
39 Management Agent Limited Partner
40 Limited Partner Contact
41 Syndicator Management
42 Syndicator Contact Management Company
43 Managing Member
44 Syndicator 2 Managing Member Contact
45 Syndicator Contact 2 Member
46 Member Contact
47 Rental Assitance Administrator Member 2
48 RA Administrator Contact Member Contact 2
49
50 Operating Subsidy Administrator Member 2
51 OS Administrator Contact Member Contact 2
52 Member 3
53 Other Entity Roles Member Contact 3
54 Non Profit Lessee Contact
55 Previous Management Company
56 Previous Project Owner
57 Processing Agent
58 Processing Agent Contact
59 Project Owner
60 Project Owner Contact
61 Project Payee
62 Property Address
63 Property Manager
64 RA Administrator
65 RA Administrator Contact
Page 20 of 37
578adddd-2ec7-4f6d-b296-dca61d745d411
A B C T U V W X Y
Federal Tax ID
1 Role (not SSI) Name DESCRIP
66 Recipient
67 Resident Manager
68 Review Team
69 Service Provider (Primary)
70 Service Provider Contact
71 Site Contact
72 Small Business Borrower
73 Sponsor
74 Sub Contractor
75 Suballocator
76 Suballocator Contact
77 Syndicator
78 Syndicator 2
79 Syndicator Contact
80 Syndicator Contact 2
81 Title Company
82 Title Company Contact
83 Tracs Contact
Page 21 of 37
Instructions:
1) If buildings are located in the same city, zip and county, enter those fields once.
2) If buildings are located in multiple cities and/or counties, enter all here. On the Application sheet select one city and one county.
3) If buildings are scattered site, not in close proximity, enter latitude and longitude here.
Building Address City Zip Code County Longitude Latitude
Attachment A
PROJECT: HUD #.:
PREPARED BY: DATE:
SOURCES
Tax Credit Proceeds (Gross Est. Syn.Proceeds PV) $0
First Mortgage
Other Loans
Other:
TOTAL SOURCES $0
USES
To Purchase Land and Building VI. A. 4 $0
On/Off Site Work VI. B. 1. d.& e. & 2.a $0 Maximun Standards
Rehabilitation and New Construction
New Structures B.h. less d.&.e $0 General Req. #DIV/0! 6.00%
Rehabilitation B.2 j less a $0
Environmental Work B3c $0 Builder's Overhead #DIV/0! 2.00%
General Requirements B1i+B2k $0
Contractor Overhead B1j+B2l $0 Builder's Profit #DIV/0! 6.00%
Contractor Profit B1k+B2m $0
Construction Contingency B1m+B2p $0 Total of above #DIV/0!
Other (Identify) B2n $0
Professional Fees C1s $0 Developer's Fee #DIV/0! 15%
Financing Costs C4o $0
Syndication Costs C3e $0 Syndication Costs #DIV/0!
Developer Fees C2e $0
Project Reserves E4 $0
Other
TOTAL USES $0
PROJECT GAP $0
EST. NET SYND. PROCEEDS
Total Annual Tax Credit Allocation
Tax Credit Proceeds (from Above) $0
Syndication Costs C3e
EST. NET SYND. PROCEEDS $0
Net Synd Proceeds/0% of allocated tax credits % of allocated tax credits
$0 Divided $0 #DIV/0! Pay-in per $1 credits purchased
1. Gross Est. Syd. Proceeds were PV - see EX B
Attachment C
SUBSIDY LAYERING REVIEW
EQUITY PROCEEDS
PROJECT NAME:
LOCATION:
HUD PROJECT #:
Pay-In Schedule
Interest Rate (Bridge Loan, or NPV factor):
Construction Occupancy Date (Placed In Service Date):
No. of Months from FV or PV from
Date of Pay-In Description of Pay-In Amount
expected C.O. Date C.O. Date
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0 $0
Estimated Gross Syndication Proceeds $0
0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
0 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Total units 0
Annual Growth Rate - Income 2.00%
Annual Growth Rate - Expenses 3.00%
Cap Rate 8.00%
Vacancy Rate/Credit Allowance 7.0%
Months of operation 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12
Income 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Rental Income $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Parking $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Total Rental Loss #DIV/0! - - - - - - - - - - - - - - -
Net Rental Income $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Other Income (including Laundry) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Other Income Manual Override
Effective Gross Income $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Expenses
Management Fees #DIV/0! $ - - - - - - - - - - - - - - -
Administrative & Marketing $ - - - - - - - - - - - - - - -
Operating/Maintenance $ - - - - - - - - - - - - - - -
Payroll $ - - - - - - - - - - - - - - -
Utilities $ - - - - - - - - - - - - - - -
Unique Operating Expenses M&O/Unit/Mo= $ - - - - - - - - - - - - - - -
Insurance #DIV/0! $ - - - - - - - - - - - - - - -
Real Estate Taxes $ - - - - - - - - - - - - - - -
Reserves for Replacement #DIV/0! $0 - - - - - - - - - - - - - -
Effective Gross Expense* #DIV/0! $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Net Operating Income $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Debt Service- A Note #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Debt Service - B Note (enter Yes or No) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Debt Service Coverage #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
$ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
TOTAL DSC #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Net Cash Flow #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Outstanding Loan(s) Amount #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
RE Value - - - - - - - - - - - - - - -
Value of Remaining Tax Credits - - - - - - - - - - - - - - -
Debt/Unit #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
LTV (RE and TC) #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
1/24/2012
LTV (RE Only) #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Annual Tax Credit Value $ -
Price per tax Credit 0.0000
A Note Interest Rate and Amortization 0.00% 0 years
B Note Interest Rate and Amortization years
-
1/24/2012
2026
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
12
2026
$ -
$ -
-
$ -
$ -
$ -
-
-
-
-
-
-
-
-
-
$ -
$ -
#DIV/0!
$ -
#DIV/0!
$ -
#DIV/0!
#DIV/0!
#DIV/0!
-
-
#DIV/0!
#DIV/0!
1/24/2012
#DIV/0!
1/24/2012
AMRTZ-A
Name of Borrower: ANNUAL NOI Interest Rate: 0.00%
$ - Monthly Payment: #DIV/0!
$0.00 Original Principal Balance: $0
Debt Service 1.2 Date of Loan: 6/15/2011
Amort Length 0
Page 30
AMRTZ-A
Rate Quote date ANNUAL DS
#DIV/0!
Principal Override Input a # here if you have a "Negotiated Mortgage"
Input
Page 31
Name of Borrower: ANNUAL NOI Interest Rate:
$ - Monthly Payment: #DIV/0!
$ - Original Principal Balance:
Debt Service Date of Loan: 6/15/2011
Amort Length
ANNUAL DS
#DIV/0!
Total Sources Amount Finance Type Total Uses Amount Per Unit % of Costs
MHFA 1st Mortgage Note $ - 0 Acq. or Refinance Existing Debt Costs $ - #DIV/0!
General Partner Cash $ - 0 Gross New Construction or Rehab Contract $ - #DIV/0!
Syndication Proceeds $ - 0 Construction Contingency $ - #DIV/0! #DIV/0!
0 $ - 0 Environmental $ - #DIV/0!
0 $ - 0 Soft Costs $ - #DIV/0!
0 $ - 0 Financing Costs $ - #DIV/0!
0 $ - 0 Developer Fee $ - #DIV/0!
0 $ - 0 Construction Interest $ - #DIV/0!
0 $ - 0 MH Loan Fees $ - #DIV/0!
0 $ - 0 MH DCE $ - #DIV/0!
0 $ - 0 Non-Mortgageable Costs $ - #DIV/0!
0 $ - 0 $ - #DIV/0!
0 $ - 0 $ - #DIV/0!
0 $ - 0 $ - #DIV/0!
0 $ - 0
Subtotal (Perm. Loans) $ -
Not Committed $ - NOTES:
Committed $ - Acq. or Refinance Existing Debt Costs
Subtotal $ - (provide breakdown of payoff existing debt, $ -
owner cash out, etc.) $ -
$ -
$ -
$ -
Sum $ -
Reserves Uses Location
(list out prefunded reserves and where located $ -
above) $ -
$ -
$ -
$ -
Sum $ -
Effective Rate with all MHFA funds Last Row 382
Loan Desc-> NOI Loan MHFA Other 1 MHFA Other 2 Combined
Supporting Income -> 0.00
Rate --> 0.0000% 0.0000% 0.0000% #NUM!
Interest Type Compound Compound Compound
Term (Yrs) --> 0 0 0 0
Amortization (Yrs) -> 0 0 0
Future Value -> 0 0 0
Amortizing Loan -> Yes Yes Yes
Debt Service Factor -> 0 0 0 0 0
MIP Rate -> 0 0.00 0.00
Annual Fee -> 0.00 0.00 0.00
Total DSF -> 0 0 0 0 0
Loan Amount -> 0 0 0 0 0 0
Monthly Payment -> #DIV/0! 0.00 0.00 0.00 0.00
Negotiated Mortgage 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payment Payment Payment Payment Payment Payment Payment Loan 1 Loan 2 Loan3 Loan4 Loan5
Number Stream Stream Stream Stream Stream Stream Beginning Balance Interest Principal End Balance Beginning Balance Interest Principal End Balance Beginning Balance Interest Principal End Balance Beginning Balance Interest Principal End Balance Beginning Balance Interest Principal End Balance
0 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Page 35 of 37
10 Year Proforma
Base Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15
Annual Factor 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14
ANNUAL OPERATING INCOME:
GROSS POTENTIAL RENT: Manual Override
Rental Housing Potential 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Parking/Garage Rent Potential 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Commercial Rent Potential (specify) 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Miscellaneous Rent Potential (specify) 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Gross Potential Rent $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
RENTAL LOSS:
Rental Housing Vacancy 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Parking/Garage Vacancy 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Commercial Vacancy 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Miscellaneous Unrealized Income 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Employee Rent Credits 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Out of Service Units 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Rental Concession Adjustments 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Bad Debt 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Rental Loss $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
NET RENTAL COLLECTIONS: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
OTHER INCOME:
Tenant Fees 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Laundry Equipment 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Annual Tax Increment Financing (TIF) Receipts 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other (Spec:) 0 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other (Spec:) 0 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other (Spec:) 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other (Spec:) 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Forfeited Security Deposits 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Interest Income 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Other Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TOTAL REVENUE $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
ANNUAL OPERATING EXPENSES:
ADMINISTRATIVE EXPENSES
Advertising and Marketing 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Management Fee 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Legal 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Auditing 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Telephone 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
On-Site Management Payroll 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Administration 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Administration $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
MAINTENANCE EXPENSES
Elevator Maintenance / Contract 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Exterminating 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Rubbish Removal 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Contract Services 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Janitor Supplies 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Maintenance Supplies 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Grounds Maintenance 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Snow Removal 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Heat & A/C Repair Services 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
General Repair Services 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Paint/Decorating Materials 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Maintenance & Jan. Payroll 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Maintenance and Operating 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other 0 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
UNIQUE OPERATING EXPENSES
Other (Spec:) 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other (Spec:) 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other (Spec:) 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other (Spec:) 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Unique Operating Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
UTILITIES
a. Electricity 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
b. Water & Sewer 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
c. Gas and Oil 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
d. Total Utilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
INSURANCE 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TOTAL MANAGEMENT AND OPERATING EXPENSES $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
ANNUAL RESERVES AND ESCROWS
Real Estate Taxes 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Replacement Reserve 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Painting & Dec. Reserve 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Miscellaneous Reserves 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other 3.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Reserves & Escrows $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
EFFECTIVE GROSS EXPENSES $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
NET OPERATING INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Page 36 of 37
10 Year Proforma
Annual Factor 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14
ANNUAL DEBT SERVICE
Debt Service $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other
Cash Flow $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Requested Operating Subsidy
Adjusted Cash Flow $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Discount Rate
NPV $0.00
Page 37 of 37
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