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					       Georgia Department of Community Affairs                                                                                                                         Office of Affordable Housing
                                                 2011 Application Binder Tabs Checklist For: 2011-049, Stratford Court, Barrow County
           Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                        Included
Tab   Required Application Binder Tabs                    Required Tab Contents and Specified Order                                                                                                      in App
Nbr                                                                                                                                                                                                      Binder

                                                          Completed Application Tabs Checklist                                                                                                           Yes
      CORE QAP DOCUMENTATION
1 Project Overview                                        Completed Core Application (Parts I through X)                                                                                                 Yes
                                                          Documents from USDA indicating project is located in rural area (if applicable)                                                                Yes
                                                          Project Narrative / Project Concept (printed from electronic Core Application)                                                                 Yes
                                                          Copy of Tax Exempt Bond Inducement Resolution, if applicable                                                                                   N/a
                                                          Master Planned Community Documentation                                                                                                         N/a
                                                          Application Certification Letter (Tab X of electronic Core Application)                                                                        Yes
2 Set asides                                              The partnership’s tax returns for the first and final years of credit period                                                                   N/a
         Special Needs Set Aside                          Commitment from DCA Permanent Supportive Housing Program                                                                                       N/a
         CHOICE Neighborhoods / HOPE VI Set Aside         A copy of Grant Assistance Award (form HUD-1044) identifying PHA receiving grant and amount of grant                                           N/a
                                                          Additional documentation reflecting the time limits for use of the HOPE VI funds                                                               N/a
                                                          A letter from the Executive Director of the identified PHA                                                                                     N/a
                                                          A copy of the HUD approved Revitalization Plan                                                                                                 N/a
         Preservation Set Aside                           IRS Forms 8609 for first and final years of credit period                                                                                      N/a
                                                          Legal opinion that project will meet for the 15 year compliance period requirement specified for the Preservation Set-Aside                    N/a
                                                          Replacement housing factor (RHF) funds documents                                                                                               N/a
                                                          Section 515 financing documents                                                                                                                N/a
                                                          Project Based Section 8 contract (Original and Renewal)                                                                                        N/a
                                                          HUD Section 236 decoupling documents                                                                                                           N/a
                                                          HUD/USDA Letter of Priority                                                                                                                    N/a
         Non Profit Set Aside                             IRS Tax-Exempt Status Determination Letter                                                                                                     N/a
                                                          Secretary of State Certification of Nonprofit Status                                                                                           N/a
                                                          General Partnership Joint Venture Agreement if applicable                                                                                      N/a
                                                          Legal Opinion regarding nonprofit tax-exempt status                                                                                            N/a
                                                          Documentation of ALL Nonprofit's ownership interest                                                                                            N/a
                                                          Board of Directors information: name, address, phone, occupation, positions                                                                    N/a
                                                          Development Agreement                                                                                                                          N/a
                                                          By-laws or Articles of Incorporation for Non Profit                                                                                            N/a

3 Project Participants                                    Copies of Performance Workbook for all project participants                                                                                     Yes
                                                          Copies of DCA experience determinations/Waivers                                                                                                 N/a
                                                          Probationary participation approval                                                                                                             N/a
                                                          Explanation documentation, if applicable                                                                                                        N/a
                                                          Detailed statements and dates of all governmental debarments/ suspensions, criminal convictions, indictments, bankruptcies and pending criminal Yes
                                                          investigations of all Owners and Developers.
                                                          General Partner Organization Documents Including Operating Agreement                                                                            Yes
                                                          Developer Organization Documents                                                                                                                Yes
                                                          Partnership or Consulting Agreement Between Inexperienced and Experienced Entities, if applies (must have training plan)                        N/a
       d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                Application Tabs Checklist                                                                        1 of 128
       Georgia Department of Community Affairs                                                                                                                     Office of Affordable Housing
                                                2011 Application Binder Tabs Checklist For: 2011-049, Stratford Court, Barrow County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                    Included
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                                                   in App
Nbr                                                                                                                                                                                                  Binder
4 Waivers/Preapprovals (Non financial)                   Pre determination of proposed Project Team Qualifications                                                                                   Yes
                                                         Architectural Standards Waiver                                                                                                              N/a
                                                         Amenities Pre-Approval                                                                                                                      N/a
                                                         Tenancy Characteristic Waiver Approval                                                                                                      N/a
                                                         Operating Expense Waiver Approval                                                                                                           N/a
                                                         Payment & Performance Bond Waiver                                                                                                           N/a
                                                         Other Waiver Approval                                                                                                                       N/a
      THRESHOLD DOCUMENTATION
5 Financing Commitments                                  Preliminary Financing Commitments - Debt, Equity, Historic Rehab Credits & Grants (if applicable)                                           Yes
                                                         CDBG documentation, if applicable                                                                                                           N/a
                                                         NSP Reservation and commitments, if applicable                                                                                              N/a
                                                         AHP Commitment and loan documents, if applicable                                                                                            N/a
                                                         Permanent Supportive Housing commitment                                                                                                     N/a
                                                         Documentation of Applicable Index Rate (for interest rates tied to an index), if applicable                                                 Yes
                                                         DCA HOME Loan consent pursuant to the pre-application process, if applicable                                                                N/a
                                                         Operating Subsidy Agreements, if applicable                                                                                                 N/a
                                                         HUD Under Consideration Letter & Lender Preliminary Commitment for HUD 221(d)3 or (d)4 Program, if applicable                               N/a
                                                         HUD Invitation to Submit, if applicable                                                                                                     N/a
                                                         USDA documentation, if applicable                                                                                                           N/a
                                                         Tax Abatement documentation, if applicable                                                                                                  N/a
                                                         Evidence of PBRA Agreements, if applicable                                                                                                  N/a
                                                         Other Financing Commitments                                                                                                                 N/a
                                                         Support Documentation for Tax Exemption                                                                                                     N/a
                                                         Alternate Financing Commitments, if applicable, due on or before 8/17/11.                                                                   N/a

6 Assumption of Existing Debt (if applicable)            Estoppel Letter from Lender containing certifications required relating to assumption of existing debt                                      N/a
                                                         Copy of Original Promissory Note and Amendments                                                                                             N/a
                                                         Copy of Original Loan Agreement and Amendments                                                                                              N/a
                                                         Copy of Original Security Instruments                                                                                                       N/a

7 Operating Utility Allowance (UA)                       Current utility allowance schedule from applicable utility provider to be used by project                                                   Yes

8 Additional Feasibility documents                       Documentation back up for construction costs (i.e., Schedule of Values), insurance and taxes                                                Yes
                                                         DCA Operating expense waiver approval                                                                                                       N/a

9 Market Feasibility                                     Market Study for proposed site                                                                                                              Yes

10 Appraisal                                             Applicant Commissioned Appraisal (if applicable)                                                                                            N/a

11 Environmental Requirements                            Phase I Environmental Study (including all appendices in the format prescribed in the Environmental Manual)                                 Yes
                                                         Phase II Environmental Study (if applicable)                                                                                                N/a



       d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                               Application Tabs Checklist                                                                     2 of 128
       Georgia Department of Community Affairs                                                                                                                       Office of Affordable Housing
                                                2011 Application Binder Tabs Checklist For: 2011-049, Stratford Court, Barrow County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
   This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
                Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                    Included
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                                                                   in App
Nbr                                                                                                                                                                                                                  Binder
12 Site Control                                          Executed Warranty Deed, Sales Option Contract or long-term ground lease                                                                                     Yes
                                                         Legal Description of Property                                                                                                                               Yes
                                                         HOME Contract Addendum (If applicable)/or right to withdraw                                                                                                 N/a

13 Site Access                                           Appropriate drawings, survey and other documents reflecting roads                                                                                           Yes
                                                         Local Govt commitment for funding of paved roads, and timetable if applicable                                                                               N/a
                                                         Proof of ownership or executed easement of a private drive, if applicable                                                                                   N/a
                                                         Plans and costs for paving private drive, if applicable                                                                                                     N/a

14 Site Zoning                                           Documentation from authorized Local Government Official that details zoning, land use classification and conditions of zoning, explanation of               Yes
                                                         requirements, and any conditions of zoning and classification.
                                                         Copy of Ordinance                                                                                                                                           Yes

15 Operating Utility original letters:                   Letter of availability and capacity from local Natural Gas provider                                                                                         N/a
                                                         Public Water/Sewer Requirement Waiver Approval                                                                                                              N/a
                                                         Letter of availability and capacity from proposed local Electricity provider                                                                                Yes
                                                         Letter of availability and capacity from local public water authority                                                                                       Yes
                                                         Letter of availability and capacity from local public sewer authority                                                                                       Yes
                                                         Evidence of easements necessary to extend utilities (if applicable)                                                                                         Yes
                                                         Verification of Annexation and Improvements (if applicable)                                                                                                 N/a

16 Local Government Support and Community                Evidence of public meetings and presentations regarding the proposed project to local government and residents of the community                             Yes
   Engagement                                            Resolutions of support or letters of support from local government officials (may be included, but are not required)                                        Yes
                                                         Other (Explain in "Other" tab section at end of this checklist)                                                                                             N/a

17 Rehabilitation Standards                              Physical Needs Assessment (See Rehabilitation Guide in Architectural Manual)                                                                                N/a
   (Rehab projects)                                      Comprehensive Rehabilitation Work Scope                                                                                                                     N/a

18 Site Info and Development Plan                        Location and Vicinity Map (all parcels for a scattered site must be indicated)                                                                              Yes
   (All Projects New AND Rehab)                          Conceptual Site Development Plan of the property                                                                                                            Yes
                                                         Site Maps & Photographs (photos must be color in all copies)                                                                                                Yes
                                                         Aerial Photos of proposed site                                                                                                                              Yes

19 Qualifications for Project Team (Performance)         Organizational Chart (s) with all entities and individuals in the Project Participant Team organizational structures                                        Yes
                                                         Qualification of Project Participants Determination                                                                                                         Yes
                                                         Real estate properties disclosure                                                                                                                           Yes
                                                         Development fee sharing arrangements                                                                                                                        N/a
                                                         Guarantor agreements                                                                                                                                        N/a
                                                         Consulting agreements - direct or indirect, paid or unpaid                                                                                                  N/a
                                                         Documentation of all pending litigation                                                                                                                     N/a
                                                         Conclusively demonstrative documentation of current ownership and operation of 5 (five) or more successful LIHTC projects in which you own a                Yes
                                                         minimum 20% interest in the General Partner and Development entities


       d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                              Application Tabs Checklist                                                                                      3 of 128
       Georgia Department of Community Affairs                                                                                                                              Office of Affordable Housing
                                                    2011 Application Binder Tabs Checklist For: 2011-049, Stratford Court, Barrow County
           Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
   This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
                Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                          Included
Tab   Required Application Binder Tabs                         Required Tab Contents and Specified Order                                                                                                                   in App
Nbr                                                                                                                                                                                                                        Binder
20 Additional HOME/HUD Requirements                           Site & Neighborhood Standards documentation                                                                                                                  N/a
                                                              US Census Tract documentation                                                                                                                                N/a
                                                              Certification for Contracts, Loans and Cooperative Agreements                                                                                                N/a
                                                              Disclosure of Lobbying Activities                                                                                                                            N/a
                                                              Applicant / Recipient Disclosure / Update Report                                                                                                             N/a
                                                              MBE / WBE Outreach Plan Guide form                                                                                                                           N/a
                                                              Affirmative Fair Housing Marketing Plan                                                                                                                      N/a

21 Required Legal Opinions                                    Legal Opinion for Assisted Living (as applicable)                                                                                                            N/a
                                                              LIHTC Legal Opinion as to Project Qualification for Acquisition Credits                                                                                      N/a
                                                              Accessibility exemption Legal Opinion (if applicable)                                                                                                        N/a
                                                              Legal opinion for scattered site projects. The legal opinion should address the proposed site plan and must be included as part of the opinion               N/a
                                                              Other legal (Explain in "Other" tab section at end of this checklist)                                                                                        N/a
22 Relocation (if applicable)                                 Relocation Displacement Spreadsheet                                                                                                                          N/a
                                                              Detailed Project-Specific Displacement/Relocation Plan and Budget                                                                                            N/a
                                                              Multifamily Tenant Relocation Plan Certification                                                                                                             N/a
                                                              Temporary Relocation Cost Estimate                                                                                                                           N/a
                                                              General Info Notice for Occupants at Time of App / Proof of Delivery                                                                                         N/a
                                                              Occupancy History                                                                                                                                            N/a
                                                              Site Map of Property                                                                                                                                         N/a
                                                              Tenant Household Data Forms                                                                                                                                  N/a
                                                              Site Relocation Survey                                                                                                                                       N/a
23 Marketing To Populations With Disabilities Or The Marketing Plan incorporates outreach efforts to each service provider, homeless shelter or local disability advocacy organization in project's county                 Yes
   Homeless                                          Marketing Plan outlining how the project will market units to tenants with disabilities and the homeless                                                              Yes
                                                              Marketing Plan establishes and maintains relationships between the management agent and community service providers                                          Yes
                                                              Marketing Plan including a referral and screening process, the screening criteria and a plan to provide reasonable accommodations to facilitate the          Yes
                                                              admittance of persons with disabilities or the homeless into the project
      SCORING DOCUMENTATION
24 Desirable / Undesirable Characteristics                    Desirable/Undesirable Form                                                                                                                                   Yes
                                                              A site map indicating the specific locations of each desirable and undesirable activity/ characteristics                                                     Yes
                                                              Photographs of the desirable and undesirable activities/characteristics                                                                                      Yes
                                                              Documentation from the owner of the site on which the undesirable condition exists or from a third party government source documenting how such              Yes
                                                              change will occur and the time frame
                                                              Documentation that evidences the desirable activity/characteristic that will be located in sites under construction                                          N/a
25 Community Transportation Options                           Map showing the location of the Rapid Rail Transit station and/or public transit stop in relation to the proposed development site                           N/a
                                                              Documentation from transit authority showing relevant bus route and schedule                                                                                 N/a




       d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                  Application Tabs Checklist                                                                                        4 of 128
       Georgia Department of Community Affairs                                                                                                                        Office of Affordable Housing
                                                2011 Application Binder Tabs Checklist For: 2011-049, Stratford Court, Barrow County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
   This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
                Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                     Included
Tab   Required Application Binder Tabs                    Required Tab Contents and Specified Order                                                                                                                   in App
Nbr                                                                                                                                                                                                                   Binder
26 Adaptive Re-Use                                        Documentation on the previous use of the building                                                                                                           N/a
                                                          Photographs of the building that to be reused                                                                                                               N/a
                                                          Documentation of whether or not the building is occupied                                                                                                    N/a
                                                          Narrative of how building will be reused                                                                                                                    N/a

27 Brownfield                                             Evidence of designation as a Brownfield site                                                                                                                N/a
                                                          Opinion letter from either an attorney or a PE that the property appears to meet requirements for issuance of EPD Letter of No Further Action               N/a
                                                          Proposed scope of work for clean up of a site                                                                                                               N/a
                                                          Detailed budget for clean up                                                                                                                                N/a
                                                          Time line for clean up of the site                                                                                                                          N/a

28 Sustainable Communities Certification                  Draft scoring sheet for the development that includes the minimum score under the program to qualify for the designation                                    N/a
                                                          Master site plan for the development                                                                                                                        N/a
                                                          Copy of an executed EarthCraft Communities Memorandum of Participation for the development the project is locating within or LEED-ND registration           N/a
                                                          for the larger development from US Green Building Council

29 Sustainable Building Certification                     Draft scoring sheet for the development that includes the minimum score under the program to qualify for the designation.                                   Yes
                                                          Certification of completion of Southface’s green building for affordable housing training course                                                            Yes

30 Stable Communitities                                   Each page of FFIEC census demonstrating project meets requirements                                                                                          Yes

31 Community Redevelopment /Revitalization Plans and Strategies
      HOPE VI or CHOICE Neighborhoods Initiatives A copy of the HOPE VI or Choice Neighborhoods Revitalization Grant Assistance Award (form HUD-1044) identifying funded PHA and amount                               N/a
                                                          Additional documentation reflecting the time limits for use of the HOPE VI or Choice Neighborhoods funds                                                    N/a
                                                          A certification letter from the Executive Director of the identified PHA                                                                                    N/a
                                                          A copy of the HUD approved Revitalization Plan.                                                                                                             N/a
        Statutory Redevelopment Plans                     Copy of the Plan                                                                                                                                            N/a
                                                          Website address where information regarding the plan can be located                                                                                         N/a
                                                          Copy of Resolution(s) adopting the Plan according to requirements of statute                                                                                N/a
                                                          Documentation of Public Hearing and Publication if required by statute                                                                                      N/a
                                                          Documentation that Plan is current, ongoing and directly affects the site                                                                                   N/a
        Redevelopment Zones                               Copy of Resolution adopting the state enterprise zone                                                                                                       N/a
                                                          Documentation evidencing that the proposed site is located in a QCT/DDA                                                                                     N/a
        Local Redevelopment Plans                         DCA Neighborhood Redevelopment Certification Form                                                                                                           N/a
                                                          Documentation of the process the government used for developing and adopting the plan                                                                       N/a
                                                          Details regarding community input and public hearings held prior to the adoption of the plan                                                                N/a
                                                          Copy of the entire plan                                                                                                                                     N/a
                                                          Evidence of adoption                                                                                                                                        N/a
                                                          Map of area targeted by plan identifying location of project                                                                                                N/a



       d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                              Application Tabs Checklist                                                                                       5 of 128
       Georgia Department of Community Affairs                                                                                                                           Office of Affordable Housing
                                                 2011 Application Binder Tabs Checklist For: 2011-049, Stratford Court, Barrow County
           Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                  Included
Tab   Required Application Binder Tabs                      Required Tab Contents and Specified Order                                                                                                              in App
Nbr                                                                                                                                                                                                                Binder
32 Tenant Ownership                                         Copy of Strategy meeting requirements                                                                                                                  N/a

33 Historic Designation                                     Copy of the Georgia DNR-HPD and NPS approved Part 1, Part 2 and, if applying, the Georgia-approved Part A                                              N/a
                                                            Copy of preliminary equity commitment for federal and Georgia historic rehab credits                                                                   N/a
                                                            NPS National Historic Designation documentation on or before 8/17/2011                                                                                 N/a

34 Preservation of Affordable Projects
        Expiring Tax Credit Properties                      Partnership’s tax returns for the first and last years in which credits were claimed, along with the appropriate IRS Forms 8609 attached               N/a
        USDA Properties                                     Documentation from USDA specifying the projects’ High Priority designation                                                                             N/a
        HUD Properties                                      Documentation from HUD specifying the projects High Priority designation                                                                               N/a

35 Tax Credit Experience                                    Letter from closing attorney evidencing final closing of equity and construction has occurred and the date                                             Yes

36 DCA Community Initiatives                                Letter executed by Official Representative                                                                                                             Yes

37 3rd Party Investment in Offsite Amenities                Commitment of Funds                                                                                                                                    N/a
                                                            Detailed Source of Funds                                                                                                                               N/a
                                                            Amount of Investment                                                                                                                                   N/a
                                                            Timeline for Completion                                                                                                                                N/a
                                                            Description and location of improvements on site map                                                                                                   N/a
                                                            Narrative that includes benefit specific to the tenant base                                                                                            N/a

38 Compliance / Performance                                 DCA Compliance History Form for each project                                                                                                           Yes
                                                            DCA Compliance Certification for each state finance agency from which the Owner/Developer entity, affiliates or principals have received LIHTC         Yes

39 Other                                                    Compliance with DCA Web-based MITAS System Requirements                       Part IX A-Scoring Criteria                                               Yes

        (Provide name of each item and what section it is
        needed for)
                 Note: Additional Forms and Documentation required for the 2011 Application Submittal may be obtained on the DCA website at
                                     http://www.dca.state.ga.us/housing/HousingDevelopment/programs/QAP2011docs.asp




       d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                 Application Tabs Checklist                                                                                 6 of 128
                                                          Project Narrative
                                                           Stratford Court
                                                        Winder, Barrow County

Stratford Court is a proposed 64-unit community reserved exclusively for seniors. Located along Jefferson Highway in Winder,
Georgia; the property will be designated as Elderly Housing with residency restricted to occupants age 62 years and older who are
capable of an independent living lifestyle. Sixty-three (63) of the units will be residential with one remaining unit reserved for
employee use (common space). The community will include 1Bed/1Bath and 2Bed/1Bath unit types. Stratford Court will be                          NOTE: Row siz
developed by the Norsouth Development Company of Georgia, LLC, managed by Norsouth Management Company Inc. and owned                           decreased as n
by Stratford Court, LP.                                                                                                                        will hold only 2


The city of Winder, the county seat of Barrow County, was originally a settlement called "Jug Tavern". Winder was incorporated in
1893 when the Seaboard Airline Railroad was built through the town. It was named after the president of the railroad, John H. Winder
of North Carolina. The city of Winder was located at the juncture of Gwinnett, Jackson and Walton counties. Being situated in three
counties caused continuous legal problems and governance confusion; so in 1914 Barrow County was created and the city of Winder
declared the county seat.




Stratford Court offers excellent accessibility to retail shopping, service providers and restaurants. In addition, the property is less than
two miles from the emerging Downtown Winder District; which in 2009 received a Livable Centers Initiative (LCI) study by the Atlanta
Regional Commission.




The city of Winder LCI Study is the first such study in Barrow County. The study area encompasses nearly 550 acres of land,
including downtown, adjacent historic residential neighborhoods, the May Street corridor and areas north. Through the LCI process,
the study will review existing conditions in central Winder and develop a long-term vision for the future. This vision will promote a
more livable Winder. Areas to be addressed include land use, parks and open space, environment, transportation, urban design,
historic preservation, economic development and public facilities. Stratford Court's close proximity to the LCI district assures the
residents will experience the benefits of the long-term Winder vision.




Stratford Court will feature a 64 unit, four-story residential building with elevator access to all units above ground level. The building
will be oriented along a wooded portion of the property to provide a private and natural setting for the residents. The building will
have a modern design with extremely attractive façade and roofline offsets, a combination of brick and cementitious siding, various
architectural features and a secluded exterior courtyard. The property will be surrounded with perimeter fencing to provide controlled
pedestrian access and residents will be offered secured parking for vehicles.




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                                                         Project Narrative
                                                         Stratford Court
                                                      Winder, Barrow County

All units will feature, among other amenities, spacious kitchens, 9 foot ceilings, large walk-in closets and Energy Star appliances. The
community will be highly amenitized to encourage resident socialization. Amenities will include, but will not be limited to: a fitness
center, community room, library, business center, individual gardens and an outdoor gazebo with barbeque area.




Stratford Court will feature an appealing mix of spacious 1Bed/1Bath and 2Bed/1Bath apartment homes. One hundred percent
(100%) of the residential units will be affordable to households with incomes at or below 60% of Atlanta area median income. There
will also be one (1) employee unit in the building.




Stratford Court will be designed and certified as EarthCraft Housing (ECH) Multifamily. Green design and building techniques will
include, but will not be limited to sustainable site planning, energy efficient building envelopes, lighting packages, unit fixtures and
appliances. The project will also incorporate resource efficient unit design and building materials, indoor air quality improvements as
well as education programs designed to enable residents to fully capture the personal and economic benefits of these sustainable
building practices.




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                                     Project Narrative
                                       Stratford Court
                                    Winder, Barrow County




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              Georgia Department of Community Affairs                                                                          2011 Funding Application                                                         Office of Affordable Housing
                                                       PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

Please note:                           Blue-shaded cells are unlocked for your use and do not contain references/formulas.                                                        DCA Use Only - Project Nbr:
                                       Green-shaded cells are unlocked for your use and do contain references/formulas that can be overwritten.                                             2011-049

I.        DCA RESOURCES                              LIHTC (auto-filled based on later entries)                   $                770,000
                                                     DCA HOME (amount from Consent Form)                                    N/A

II.       TYPE OF APPLICATION                        Competitive Round                                  Other:
III.      APPLICANT CONTACT FOR APPLICATION REVIEW
          Name                                       Jervon Harris                                                                                       Title       Vice President
          Address                                    2000 Riveredge Parkway, Suite 950                                                                   Direct Line             (678) 460-2868
          City                                       Atlanta                                                                                             Fax                     (770) 850-8230
          State                                      GA                                              Zip+4              30328-5820                       Cellular                (404) 580-0117
          Office Phone                               (770) 850-8280                                   Ext.            1113      E-mail        jervon@norsouth.com
          (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)

IV.       PROJECT LOCATION
          Project Name                               Stratford Court                                                                                       Phased Project?            No
          Site Street Address                        450 Jefferson Highway                                                                                 Scattered Site?            No
          City                                       Winder                                      9-digit Zip *       30680-3639                            Acreage                    7.5
          Within City Limits?                        Yes                                        County         Barrow                                      Census Tract #             1803
          In USDA Rural Area?                        Yes                                   HUD MSA/NonMSA Atlanta-Sandy Springs-Marietta                   QCT?          No                  DDA? No
                                                           Congressional *                 State Senate                 State House
          Legislative Districts                                  7                              47                          108
          If on boundary, other district:
          Political Jurisdiction                     City of Winder
          Name of Chief Elected Official             George Thompson III                                                            Title     Mayor
          Address                                    45 East Athens Street                                                          City      Winder
          Zip+4                                      30680-2531                       Phone                    (770) 867-3106                    Fax             (770) 307-0424

V.        PROJECT DESCRIPTION                                                                                    * Must be verified by applicant using following websites:
       A. Mixed Use                                        No                                                    Zip Codes                http://zip4.usps.com/zip4/welcome.jsp
       B. Type of Construction:                                                                                  Congressional Districts: http://www.govtrack.us/congress/findyourreps.xpd
          New Construction                                 64
          Adaptive Reuse
          Acquisition/Rehabilitation                                For Acquisition/Rehabilitation, date of original construction:
          Substantial Rehabilitation
          Historic Rehab




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                                                    PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

        C. Unit Breakdown                                                                       # of PBRA              D. Unit Area
           Number of Low Income Units                                                  63          Units                  Total Low Income Residential Square Footage                  53,076
                        Number of 50% Units                                            10                                 Total Unrestricted (Market) Residential Square Footage
                        Number of 60% Units                                            53                                 Total Residential Square Footage                             53,076
           Number of Unrestricted (Market) Units                                                                          Total Common Space Square Footage from Units                  942
           Total Residential Units                                                     63                                 Total Square Footage from Units                              54,018
           Common Space Units                                                           1
           Total Units                                                                 64
        E. Buildings    Number of Residential Buildings                                1                                  Total Common Area Square Footage from Nonresidential areas    4,500
                        Number of Non-Residential Buildings                            1                                  Total Square Footage                                         58,518
                        Total Number of Buildings                                      2
        F. Total Residential Parking Spaces (min 1.5 per unit)                         69

VI.        TENANCY CHARACTERISTICS
        A. Family or Senior                                                       Senior (Elderly)                        If Other, specify:                     N/A
        B. Mobility Impaired                         Nbr of Units Equipped:            4                                  % of Total Units                                             6.3%
        C. Sight / Hearing Impaired                  Nbr of Units Equipped:            2                                  % of Total Units                                             3.1%
        D. Special Needs Units                                    Nbr of Units:                                           % of Total Units

VII.       RENT AND INCOME ELECTIONS
        A. Tax Credit Election                                                         40% of Units at 60% of AMI
        B. DCA HOME Projects Minimum Set-Aside Requirement (Rent & Income)                                                 20% of HOME-Assisted Units at 50% of AMI                     No

VIII.      SET ASIDES
                                         No        Nonprofit                          Yes      Rural                           No        CHOICE Neighborhoods / HOPE VI
                                         No        Preservation                       No       Special Needs                   No        Supplemental (Noncompetitive - see QAP)

IX.        TAX EXEMPT BOND FINANCED PROJECT
           Issuer:                                                                                                                                    Inducement Date:
           Office Street Address                                                                                                                      Applicable QAP:
           City                                                                      State                     Zip+4
           Contact Name                                                              Title                                                   E-mail
           10-Digit Office Phone                                                      Fax                                  Direct line                              Cellular




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             Georgia Department of Community Affairs                                                                 2011 Funding Application                                        Office of Affordable Housing
                                                  PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

X.       AWARD LIMITATIONS FOR CURRENT DCA COMPETITIVE ROUND
         The following sections apply to all direct and indirect Owners, Developers and Consultants (Entity and Principal) :
      A. Number of Applications Submitted:                                         2
      B. Amount of Federal Tax Credits in All Applications:                     1,700,000
      C. Names of Projects in which an Owner, Developer and Consultant(s) and each of its principals has a direct or indirect Ownership interest:
         Project Participant                Name of Project                                   Project Participant                   Name of Project
         1 NS Partners, LLC                      Hearthside at Peachtree City                          8
         2 NS Partners, LLC                      Stratford Court                                       9
         3                                                                                             10
         4                                                                                             11
         5                                                                                             12
         6                                                                                             13
         7                                                                                             14

      D. Names of Projects in which the Owner, Developer and Consultant(s) and each of its principals is partnering with an inexperienced unrelated entity for purposes of meeting
         DCA Experience Requirements:
         Project Participant                Name of Project                                   Project Participant                   Name of Project
         1                                                                                             8
         2                                                                                             9
         3                                                                                             10
         4                                                                                             11
         5                                                                                             12
         6                                                                                             13
         7                                                                                             14

XI.      PRESERVATION                                                              No
      A. Subsequent Allocation
         Year of Original Allocation
         Original GHFA/DCA Project Number
         First Year of Credit Period                                                                                 First Building ID Nbr in Project               GA-
         Expiring Tax Credit (15 Year)                                             No                                Last Building ID Nbr in Project                GA-
         Date all buildings will complete 15 yr Compliance pd
      B. Expiring Section 8                                                        No
      C. Expiring HUD or USDA
         HUD funded affordable nonpublic housing project                           No                                HUD funded affordable public housing project         No
         USDA funded affordable nonpublic housing project                          No




             d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                        Part I-Project Information                                                       15 of 128
              Georgia Department of Community Affairs                                                                                 2011 Funding Application                                                   Office of Affordable Housing
                                                          PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

XII.     ADDITIONAL PROJECT INFORMATION
      A. PHA Units
         Is proposed project part of a local public housing replacement program?                                           No
         Number of Public Housing Units reserved and rented to public housing tenants:                                               % of Total Residential Units
         Nbr of Units Reserved and Rented to PHA Tenants w/ PBRA or Households on Waiting List:                                      % of Total Residential Units
         Local PHA                                                                                                                   Contact
         Street Address                                                                                                              Email
         City                                                                             Zip+4                                      Direct line
         Area Code / Phone                                                     Fax                                                   Cellular
      B. Existing properties: currently an Extention of Cancellation Option?               No        If yes, expiration year:                        Nbr yrs to forgo cancellation option:
      C. Is there a Tenant Ownership Plan?                                                 No
      D. Is the Project Currently Occupied?                                                No
         Total Existing Units
         Number Occupied
         % Existing Occupied
      E. Waivers and/or Pre-Approvals - have the following waivers and/or pre-approvals been approved by DCA?
         Amenities?                                                                                                                  Other Tenancy?
         Architectural Standards?                                                                                                    Probationary Participation?
         HOME Consent?                                                                                                               Service Requirement (for small rural projects)?
         Qualification Determination?                                                      Yes                                       Payment & Performance Bond?
         Pre-determination of Qualification to Compete?                                    Yes
         Operating Expense?                                                                        ---------------------------> If Yes, new Limit is:
         Other (specify waiver):
      F. Projected Place-In-Service Date
         Acquisition                                                                   N/A
         Rehab                                                                         N/A
         New Construction                                                              June 30, 2013
XIII.    APPLICANT COMMENTS AND CLARIFICATIONS                                                                       XV.             DCA COMMENTS - DCA USE ONLY
X-C - Norsouth is applying for credits as an owner through NS Partners, LLC in two projects for a total credit allocation of
$1,700,000 as allowed by the QAP.

V-F - he City of Winder's zoning ordinance allows for a minimum parking ratio of 1 space per dwelling unit. Please see evidence
of this parking ratio in the site zoning tab 14.




       Sta                                (Non)Metropolit               FMR MSA                                        Tax-Exempt                                                                                                 Unincorporated
       te County Name    Utility Region   an SA           MSA?          Name              FMR MSA                      Bond Issuers                                    City          County   other                               Place          County
       AL Appling        South            Appling Co.                   Appling County, GA    N                        Abbeville Housing Authority                     Abbeville     Wilcox   Abbeville City                      Coleman        Randolph
       AK Atkinson       South            Atkinson Co.                  Atkinson County, GA   N                        Acworth Downtown Development Authority          Acworth       Cobb     Acworth City                        Cusseta        Chattahoochee
       AZ Bacon          South            Bacon Co.                     Bacon County, GA      N                        Adairsville Development Authority               Adairsville   Bartow   Adairsville City                    Georgetown     Quitman


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       Georgia Department of Community Affairs                                                                           2011 Funding Application                                                                              Office of Affordable Housing
                                             PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

AR Baker           South    Albany                           Albany, GA MSA        Y                       Adairsville Downtown Development Authority                    Adel           Cook         Adel City                                  Martinez      Columbia
CA Baldwin         Middle   Baldwin Co.                      Baldwin County, GA N                          Albany-Dougherty Inner City Authority                         Adrian         Johnson      Adrian City                                Preston       Webster
CO Banks           North    Banks Co.                        Banks County, GA      N                       Alma Downtown Development Authority                           Ailey          Montgomery   Ailey City                                 Tennille      Washington
CT Barrow          Middle   Atlanta-Sandy Springs-Marietta                         Y
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                           Arabi Industrial Development Authority                        Alamo          Wheeler      Alamo Town                                 Weston        Webster
DE Bartow          North    Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Housing Authority
                                                                                   Y                       Arlington                                                     Alapaha        Berrien      Alapaha Town
DC Ben Hill        South    Ben Hill Co                      Ben Hill County, GA N                         Athens-Clarke County Downtown Development Authority           Albany         Dougherty    Albany City
FL Berrien         South    Berrien Co.                      Berrien County, GA    N                       Atkinson County-Coffee County Joint Development Authority     Aldora         Lamar        Aldora Town
GA Bibb            Middle   Macon                            Macon, GA MSA         Y                       Atlanta Development Authority                                 Allenhurst     Liberty      Allenhurst City
HI Bleckley        South    Bleckley Co.                     Bleckley County, GA N                         Augusta, Georgia Landbank Authority                           Allentown      Wilkinson    Allentown City
ID Brantley        South    Brunswick                        Brunswick, GA MSA Y                           Bacon County Development Authority                            Alma           Bacon        Alma City
IL Brooks          South    Valdosta                         Valdosta, GA MSA      Y                       Banks/Habersham Counties Joint Development Authority          Alpharetta     Fulton       Alpharetta City
IN Bryan           South    Savannah                         Savannah, GA MSA Y                            Barnesville Housing Authority                                 Alston         Montgomery   Alston Town
IA Bulloch         South    Bulloch Co.                      Bulloch County, GA    N                       Bartow-Cartersville Joint Development Authority               Alto           Habersham    Alto Town
KS Burke           Middle   Augusta-Richmond Co.             Augusta-Richmond County, GA-SC MSA
                                                                                   Y                       Ben Hill-Irwin Area Joint Development Authority               Ambrose        Coffee       Ambrose City
KY Butts           Middle   Atlanta-Sandy Springs-Marietta   Butts County, GA HUD Metro FMR Area
                                                                                   Y                       Berrien County Development Authority                          Americus       Sumter       Americus City
LA Calhoun         South    Calhoun Co.                      Calhoun County, GA N                          Boston Downtown Development Authority                         Andersonville Sumter        Andersonville City
ME Camden          South    Camden Co.                       Camden County, GA N                           Bowdon Housing Authority                                      Arabi          Crisp        Arabi Town
MD Candler         South    Candler Co.                      Candler County, GA N                          Brantley County Development Authority                         Aragon         Polk         Aragon City
MA Carroll         Middle   Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Housing Authority
                                                                                   Y                       Bremen                                                        Arcade         Jackson      Arcade Town
MI Catoosa         North    Chattanooga                      Chattanooga, TN-GA MSAY                       Brooks County Development Authority                           Argyle         Clinch       Argyle Town
MN Charlton        South    Charlton Co.                     Charlton County, GA N                         Brunswick and Glynn County Development Authority              Arlington      Calhoun      Arlington City
MS Chatham         South    Savannah                         Savannah, GA MSA Y                            Bryan County-Pembroke Development Authority                   Arnoldsville   Oglethorpe   Arnoldsville City
MO Chattahoochee   Middle   Columbus                         Columbus, GA-AL MSA Y                                                                                       Ashburn
                                                                                                           Butts, Henry, Lamar and Spalding County Joint Development Authority          Turner       Ashburn City
MT Chattooga       North    Chattooga Co.                    Chattooga County, GA N                        Byron Development Authority                                   Athens         Clarke       Defunct city govt
NE Cherokee        North    Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                   Y                       Byron Downtown Development Authority                          Atlanta        Fulton       Atlanta City
NV Clarke          Middle   Athens-Clarke Co.                Athens-Clarke County, GA MSA
                                                                                   Y                       Byron Redevelopment Authority                                 Attapulgus     Decatur      Attapulgus City
NH Clay            South    Clay Co.                         Clay County, GA       N                       Calhoun Downtown Development Authority                        Auburn         Barrow       Auburn City
NJ Clayton         Middle   Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area County Joint Development Authority
                                                                                   Y                       Camden                                                        Augusta        Richmond     Defunct city govt
NM Clinch          South    Clinch Co.                       Clinch County, GA     N                       Canton Development Authority                                  Austell        Cobb         Austell City
NY Cobb            North    Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Redevelopment Authority
                                                                                   Y                       Carrollton                                                    Avalon         Stephens     Avalon Town
NC Coffee          South    Coffee Co.                       Coffee County, GA     N                       Cartersville Development Authority                            Avera          Jefferson    Avera City
ND Colquitt        South    Colquitt Co.                     Colquitt County, GA N                         Cartersville Downtown Development Authority                                  DeKalb
                                                                                                                                                                         Avondale Estates            Avondale Estates City
OH Columbia        Middle   Augusta-Richmond Co.             Augusta-Richmond County, GA-SC MSA
                                                                                   Y                       Catoosa County Development Authority                          Baconton       Mitchell     Baconton City
OK Cook            South    Cook Co.                         Cook County, GA       N                       Cedartown Development Authority                               Bainbridge     Decatur      Bainbridge City
OR Coweta          Middle   Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Downtown Development Authority
                                                                                   Y                       Cedartown                                                     Baldwin        Habersham    Baldwin City
PA Crawford        Middle   Macon                            Macon, GA MSA         Y                       Central Georgia Joint Development Authority                   Ball Ground    Cherokee     Ball Ground City
RI Crisp           South    Crisp Co.                        Crisp County, GA      N                       Central Savannah River Area Unified Development Authority     Barnesville    Lamar        Barnesville City
SC Dade            North    Chattanooga                      Chattanooga, TN-GA MSAY                       Central Valdosta Development Authority                        Bartow         Jefferson    Bartow Town
SD Dawson          North    Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                   Y                       Chatham-Savannah Authority for the Homeless                   Barwick        Thomas       Barwick City
TN Decatur         South    Decatur Co.                      Decatur County, GA N                          Chattooga County Development Authority                        Baxley         Appling      Baxley City
TX Dekalb          Middle   Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area County Development Authority
                                                                                   Y                       Cherokee                                                      Bellville      Evans        Bellville City
UT Dodge           South    Dodge Co.                        Dodge County, GA      N                       City of Alpharetta Development Authority                      Belvedere Park DeKalb       Census Designated Place
VT Dooly           South    Dooly Co.                        Dooly County, GA      N                       City of Barnesville and County of Lamar Development Authority Berkeley Lake Gwinnett      Berkeley Lake City
VA Dougherty       South    Albany                           Albany, GA MSA        Y                       City of Cairo Development Authority                           Berlin         Colquitt     Berlin City
WA Douglas         Middle   Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                   Y                       City of Claxton Downtown Development Authority                Bethlehem      Barrow       Bethlehem Town
WV Early           South    Early Co.                        Early County, GA      N                       City of Clayton Downtown Development Authority                Between        Walton       Between Town
WI Echols          South    Valdosta                         Valdosta, GA MSA      Y                       City of Commerce Downtown Development Authority               Bibb City      Muscogee     Defunct city govt
WY Effingham       South    Savannah                         Savannah, GA MSA Y                            City of Cumming Development Authority                         Bishop         Oconee       Bishop Town
   Elbert          Middle   Elbert Co.                       Elbert County, GA     N                       City of Dawson Development Authority                          Blackshear     Pierce       Blackshear City
   Emanuel         South    Emanuel Co.                      Emanuel County, GA N                          City of Dublin and County of Laurens Development Authority    Blacksville    Henry        Census Designated Place
   Evans           South    Evans Co.                        Evans County, GA      N                       City of Duluth Downtown Development Authority                 Blairsville    Union        Blairsville City
   Fannin          North    Fannin Co.                       Fannin County, GA     N                       City of Fayetteville Downtown Development Authority           Blakely        Early        Blakely City
   Fayette         Middle   Atlanta-Sandy Springs-Marietta                         Y
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                           City of Jesup Downtown Development Authority                  Bloomingdale Chatham        Bloomingdale City

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                                        PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

Floyd        North     Rome                             Rome, GA MSA             Y                     City of Stockbridge, Georgia Downtown Development Authority Blue Ridge        Fannin      Blue Ridge City
Forsyth      North     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                 Y                     City of Sugar Hill Downtown Development Authority              Bluffton       Clay        Bluffton Town
Franklin     North     Franklin Co.                     Franklin County, GA N                          City of Sylvania Downtown Development Authority                Blythe         Richmond    Blythe Town
Fulton       Middle    Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                 Y                     City of Washington Downtown Development Authority              Bogart         Oconee      Bogart City
Gilmer       North     Gilmer Co.                       Gilmer County, GA        N                     City of Willacoochee Development Authority                     Bonanza        Clayton     Census Designated Place
Glascock     Middle    Glascock Co.                     Glascock County, GA N                          Clay County Development Authority                              Boston         Thomas      Boston City
Glynn        South     Brunswick                        Brunswick, GA MSA Y                            Clinch County Development Authority                            Bostwick       Morgan      Bostwick City
Gordon       North     Gordon Co.                       Gordon County, GA N                            Consolidated Housing Authority of Talbot County, Georgia       Bowdon         Carroll     Bowdon City
Grady        South     Grady Co.                        Grady County, GA         N                     Coweta County Development Authority                            Bowersville    Hart        Bowersville Town
Greene       Middle    Greene Co.                       Greene County, GA N                            Coweta, Fayette, Meriwether Joint Development Authority        Bowman         Elbert      Bowman City
Gwinnett     Middle    Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Joint Development Authority
                                                                                 Y                     Crisp-Dooly                                                    Braselton      Jackson     Braselton Town
Habersham    North     Habersham Co.                    Habersham County, GAN                          Dahlonega Downtown Development Authority                       Braswell       Paulding    Braswell Town
Hall         North     Gainesville                      Gainesville, GA MSA Y                          Development Authority for the City of Savannah                 Bremen         Haralson    Bremen City
Hancock      Middle    Hancock Co.                      Hancock County, GA N                           Development Authority of Appling County                        Brinson        Decatur     Brinson Town
Haralson     North     Haralson Co.                     Haralson County, GA HUD Metro FMR Area
                                                                                 Y                     Development Authority of Atkinson County                       Bronwood       Terrell     Bronwood City
Harris       Middle    Columbus                         Columbus, GA-AL MSA Y                          Development Authority of Bainbridge and Decatur County         Brooklet       Bulloch     Brooklet City
Hart         Middle    Hart Co.                         Hart County, GA          N                     Development Authority of Baker County                          Brooks         Fayette     Brooks Town
Heard        Middle    Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                 Y                     Development Authority of Banks County                          Broxton        Coffee      Broxton City
Henry        Middle    Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                 Y                     Development Authority of Bartow County                         Brunswick      Glynn       Brunswick City
Houston      Middle    Warner Robins                    Warner Robins, GA MSA    Y                     Development Authority of Ben Hill County                       Buchanan       Haralson    Buchanan City
Irwin        South     Irwin Co.                        Irwin County, GA         N                     Development Authority of Bibb County                           Buckhead       Morgan      Buckhead Town
Jackson      Middle    Jackson Co.                      Jackson County, GA N                           Development Authority of Brooks County, Georgia                Buena Vista    Marion      Buena Vista City
Jasper       Middle    Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                 Y                     Development Authority of Bulloch County                        Buford         Gwinnett    Buford City
Jeff Davis   South     Jeff Davis Co.                   Jeff Davis County, GA N                        Development Authority of Burke County                          Butler         Taylor      Butler City
Jefferson    Middle    Jefferson Co.                    Jefferson County, GA N                         Development Authority of Butts County                          Byromville     Dooly       Byromville Town
Jenkins      South     Jenkins Co.                      Jenkins County, GA N                           Development Authority of Carroll County                        Byron          Peach       Byron City
Johnson      South     Johnson Co.                      Johnson County, GA N                           Development Authority of Cartersville                          Cadwell        Laurens     Cadwell Town
Jones        Middle    Macon                            Macon, GA MSA            Y                     Development Authority of Catoosa County                        Cairo          Grady       Cairo City
Lamar        Middle    Lamar Co.                        Lamar County, GA HUDY     Metro FMR Area       Development Authority of Chattooga County                      Calhoun        Gordon      Calhoun City
Lanier       South     Valdosta                         Valdosta, GA MSA         Y                     Development Authority of Cherokee County                       Camak          Warren      Camak Town
Laurens      South     Laurens Co.                      Laurens County, GA N                           Development Authority of City of Edison, Georgia               Camilla        Mitchell    Camilla City
Lee          South     Albany                           Albany, GA MSA           Y                     Development Authority of Clayton County                        Canon          Franklin    Canon City
Liberty      South     Hinesville-Fort Stewart                                   Y
                                                        Hinesville-Fort Stewart, GA HUD Metro FMR Area Development Authority of Cobb County                           Canton         Cherokee    Canton City
Lincoln      Middle    Lincoln Co.                      Lincoln County, GA       N                     Development Authority of Columbia County                       Carl           Barrow      Carl Town
Long         South     Long Co.                         Long County, GA HUD Metro FMR Area
                                                                                 Y                     Development Authority of Columbus, Georgia                     Carlton        Madison     Carlton City
Lowndes      South     Valdosta                         Valdosta, GA MSA         Y                     Development Authority of Conyers, Georgia                      Carnesville    Franklin    Carnesville City
Lumpkin      North     Lumpkin Co.                      Lumpkin County, GA N                           Development Authority of Coweta County                         Carrollton     Carroll     Carrollton City
Macon        Middle    Macon Co.                        Macon County, GA         N                     Development Authority of Crawford County                       Cartersville   Bartow      Cartersville City
Madison      Middle    Athens-Clarke Co.                Athens-Clarke County, GA MSA
                                                                                 Y                     Development Authority of Crisp County                          Cave Spring    Floyd       Cave Spring City
Marion       Middle    Columbus                         Columbus, GA-AL MSA Y                          Development Authority of Dawson County                         Cecil          Cook        Cecil City
McDuffie     Middle    Augusta-Richmond Co.             Augusta-Richmond County, GA-SC MSA
                                                                                 Y                     Development Authority of DeKalb County                         Cedartown      Polk        Cedartown City
McIntosh     South     Brunswick                        Brunswick, GA MSA Y                            Development Authority of Dougherty County                      Centerville    Houston     Centerville Town
Meriwether   Middle    Meriwether Co.                                            HUD
                                                        Meriwether County, GA Y Metro FMR Area Development Authority of Douglas County                                Centralhatchee Heard       Centralhatchee Town
Miller       South     Miller Co.                       Miller County, GA        N                     Development Authority of Early County                          Chamblee       DeKalb      Chamblee City
Mitchell     South     Mitchell Co.                     Mitchell County, GA N                          Development Authority of Effingham County                      Chatsworth     Murray      Chatsworth City
Monroe       Middle    Monroe Co.                                                Y
                                                        Monroe County, GA HUD Metro FMR Area                                                                                         Fulton
                                                                                                       Development Authority of Elbert County, Elberton and Bowman Chattahoochee Hill Country    Chattahoochee Hills City
Montgomery   South     Montgomery Co.                   Montgomery County, GA    N                     Development Authority of Emanuel County                                       Walker
                                                                                                                                                                      Chattanooga Valley         Census Designated Place
Morgan       Middle    Morgan Co.                       Morgan County, GA N                                                                                           Chauncey
                                                                                                       Development Authority of Emanuel County and the City of Swainsboro            Dodge       Chauncey City
Murray       North     Murray Co.                       Murray County, GA HUD Metro FMR Area
                                                                                 Y                     Development Authority of Fairburn                              Chester        Dodge       Chester Town
Muscogee     Middle    Columbus                         Columbus, GA-AL MSA Y                          Development Authority of Floyd County                          Chickamauga Walker         Chickamauga City
Newton       Middle    Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                 Y                     Development Authority of Forsyth County                        Clarkesville   Habersham   Clarkesville City
Oconee       Middle    Athens-Clarke Co.                Athens-Clarke County, GA MSA
                                                                                 Y                     Development Authority of Fulton County                         Clarkston      DeKalb      Clarkston City
Oglethorpe   Middle    Athens-Clarke Co.                Athens-Clarke County, GA MSA
                                                                                 Y                     Development Authority of Gordon County                         Claxton        Evans       Claxton City

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     Georgia Department of Community Affairs                                                                                            2011 Funding Application                                                                                   Office of Affordable Housing
                                                         PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

Paulding            North               Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                               Y                       Development Authority of Gwinnett County                          Clayton         Rabun           Clayton City
Peach               Middle              Peach Co.                        Peach County, GA      N                       Development Authority of Haralson County                          Clermont        Hall            Clermont Town
Pickens             North               Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                               Y                       Development Authority of Harris County                            Cleveland       White           Cleveland City
Pierce              South               Pierce Co.                       Pierce County, GA     N                       Development Authority of Heard County                             Climax          Decatur         Climax City
Pike                Middle              Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                               Y                       Development Authority of Houston County                           Cobbtown        Tattnall        Cobbtown City
Polk                North               Polk Co.                         Polk County, GA       N                       Development Authority of Jasper County                            Cochran         Bleckley        Cochran City
Pulaski             South               Pulaski Co.                      Pulaski County, GA    N                       Development Authority of Jefferson County                         Cohutta         Whitfield       Cohutta City
Putnam              Middle              Putnam Co.                       Putnam County, GA N                           Development Authority of Jefferson, Georgia                       Colbert         Madison         Colbert City
Quitman             South               Quitman Co.                      Quitman County, GA N                          Development Authority of Jenkins County                           Coleman         Randolph        Defunct city govt
Rabun               North               Rabun Co.                        Rabun County, GA      N                       Development Authority of Johnson County, Georgia                  College Park Fulton             College Park City
Randolph            South               Randolph Co.                     Randolph County, GA N                         Development Authority of Jones County                             Collins         Tattnall        Collins City
Richmond            Middle              Augusta-Richmond Co.             Augusta-Richmond County, GA-SC MSA
                                                                                               Y                       Development Authority of LaFayette                                Colquitt        Miller          Colquitt City
Rockdale            Middle              Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                               Y                       Development Authority of LaGrange                                 Columbus        Muscogee        Defunct city govt
Schley              Middle              Schley Co.                       Schley County, GA     N                       Development Authority of Lanier County                            Comer           Madison         Comer City
Screven             South               Screven Co.                      Screven County, GA N                          Development Authority of Lawrenceville, GA                        Commerce        Jackson         Commerce City
Select City first   Select City first   Select City first                                                              Development Authority of Lee County                               Concord         Pike            Concord City
Seminole            South               Seminole Co.                     Seminole County, GA N                         Development Authority of Lumpkin County                           Conley          Clayton         Census Designated Place
Spalding            Middle              Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                               Y                       Development Authority of Macon County                             Conyers         Rockdale        Conyers City
Stephens            North               Stephens Co.                     Stephens County, GA N                         Development Authority of McDuffie County                          Coolidge        Thomas          Coolidge City
Stewart             South               Stewart Co.                      Stewart County, GA N                                                                                            C
                                                                                                                       Development Authority of McDuffie County and the City of Thomson ordele           Crisp           Cordele City
Sumter              South               Sumter Co.                       Sumter County, GA     N                       Development Authority of Mitchell County                          Corinth         Heard           Defunct city govt
Talbot              Middle              Talbot Co.                       Talbot County, GA     N                       Development Authority of Monroe County                            Cornelia        Habersham       Cornelia City
Taliaferro          Middle              Taliaferro Co.                   Taliaferro County, GA N                       Development Authority of Morgan County                                            Bulloch
                                                                                                                                                                                         Country Club Estates            Census Designated Place
Tattnall            South               Tattnall Co.                     Tattnall County, GA   N                       Development Authority of Palmetto                                 Covington       Newton          Covington City
Taylor              Middle              Taylor Co.                       Taylor County, GA     N                       Development Authority of Peach County                             Crawford        Oglethorpe      Crawford City
Telfair             South               Telfair Co.                      Telfair County, GA    N                       Development Authority of Peachtree City                           Crawfordville Taliaferro        Crawfordville City
Terrell             South               Albany                           Albany, GA MSA        Y                       Development Authority of Pike County                              Culloden        Monroe          Culloden City
Thomas              South               Thomas Co.                       Thomas County, GA N                           Development Authority of Polk County                              Cumming         Forsyth         Cumming City
Tift                South               Tift Co.                         Tift County, GA       N                       Development Authority of Rabun County                             Cusseta         Chattahoochee   Defunct city govt
Toombs              South               Toombs Co.                       Toombs County, GA N                           Development Authority of Richmond County                          Cuthbert        Randolph        Cuthbert City
Towns               North               Towns Co.                        Towns County, GA      N                       Development Authority of Rockdale County                          Dacula          Gwinnett        Dacula City
Treutlen            South               Treutlen Co.                     Treutlen County, GA N                         Development Authority of Screven County                           Dahlonega       Lumpkin         Dahlonega City
Troup               Middle              Troup Co.                        Troup County, GA      N                       Development Authority of Seminole County and Donalsonville        Daisy           Evans           Daisy City
Turner              South               Turner Co.                       Turner County, GA     N                       Development Authority of St. Marys                                Dallas          Paulding        Dallas City
Twiggs              Middle              Macon                            Macon, GA MSA         Y                       Development Authority of Talbot County                            Dalton          Whitfield       Dalton City
Union               North               Union Co.                        Union County, GA      N                       Development Authority of Telfair County                           Damascus        Early           Damascus City
Upson               Middle              Upson Co.                        Upson County, GA      N                       Development Authority of the City of Americus                     Danielsville    Madison         Danielsville City
Walker              North               Chattanooga                      Chattanooga, TN-GA MSAY                       Development Authority of the City of Bowdon                       Danville        Wilkinson       Danville Town
Walton              Middle              Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                               Y                       Development Authority of the City of Dalton                       Darien          McIntosh        Darien City
Ware                South               Ware Co.                         Ware County, GA       N                       Development Authority of the City of Folkston and Charlton CountyDasher           Lowndes         Dasher City
Warren              Middle              Warren Co.                       Warren County, GA     N                       Development Authority of the City of Homeland                     Davisboro       Washington      Davisboro City
Washington          South               Washington Co.                   Washington County, GAN                        Development Authority of the City of Jasper                       Dawson          Terrell         Dawson City
Wayne               South               Wayne Co.                        Wayne County, GA      N                                                                                         Dawsonville
                                                                                                                       Development Authority of the City of Jeffersonville and Twiggs County             Dawson          Dawsonville City
Webster             South               Webster Co.                      Webster County, GA N                          Development Authority of the City of Marietta                     De Soto         Sumter          De Soto City
Wheeler             South               Wheeler Co.                      Wheeler County, GA N                                                                                            Dearing
                                                                                                                       Development Authority of the City of Milledgeville and Baldwin County             McDuffie        Dearing Town
White               North               White Co.                        White County, GA      N                       Development Authority of the City of Newnan                       Decatur         DeKalb          Decatur City
Whitfield           North               Dalton                           Dalton, GA HUD Metro FMR Area
                                                                                               Y                       Development Authority of the City of Oakwood                      Deenwood        Ware            Census Designated Place
Wilcox              South               Wilcox Co.                       Wilcox County, GA     N                       Development Authority of the City of Roswell                      Deepstep        Washington      Deepstep Town
Wilkes              Middle              Wilkes Co.                       Wilkes County, GA     N                       Development Authority of the City of Vienna                       Demorest        Habersham       Demorest City
Wilkinson           Middle              Wilkinson Co.                    Wilkinson County, GA N                                                                                                          Jeff
                                                                                                                       Development Authority of the Unified Government of Athens-ClarkeDenton Georgia Davis
                                                                                                                                                                                          County,                        Denton City
Worth               South               Albany                           Albany, GA MSA        Y                       Development Authority of Tift County                              Dexter          Laurens         Dexter Town
                                                                                                                       Development Authority of Union County                             Dillard         Rabun           Dillard City
                                                                                                                       Development Authority of Vidalia                                  Dock Junction Glynn             Census Designated Place

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                                                                            Development Authority of Walton County                           Doerun           Colquitt   Doerun City
                                                                            Development Authority of Warner Robins                           Donalsonville    Seminole   Donalsonville City
                                                                            Development Authority of Warren County                           Dooling          Dooly      Dooling Town
                                                                            Development Authority of Washington County                       Doraville        DeKalb     Doraville City
                                                                            Development Authority of Wheeler County                          Douglas          Coffee     Douglas City
                                                                            Development Authority of White County                            Douglasville     Douglas    Douglasville City
                                                                            Development Authority of Whitfield County                        Druid Hills      DeKalb     Census Designated Place
                                                                            Development Authority of Wilkinson County                        Dublin           Laurens    Dublin City
                                                                            Downtown Athens Development Authority                            Dudley           Laurens    Dudley City
                                                                            Downtown Camilla Development Authority                           Duluth           Gwinnett   Duluth City
                                                                            Downtown Dalton Development Authority                            Dunwoody         DeKalb     Dunwoody City
                                                                            Downtown Development Authority for the City of Garden City       DuPont           Clinch     DuPont Town
                                                                            Downtown Development Authority for the City of Hahira, Georgia   East Dublin      Laurens    East Dublin City
                                                                            Downtown Development Authority for the City of Savannah          East Ellijay     Gilmer     East Ellijay City
                                                                            Downtown Development Authority for the City of Warner Robins     East Griffin     Spalding   Census Designated Place
                                                                            Downtown Development Authority of Adel, Georgia                  East Newnan Coweta          Census Designated Place
                                                                            Downtown Development Authority of Albany, Georgia                East Point       Fulton     East Point City
                                                                            Downtown Development Authority of Augusta-Richmond County        Eastman          Dodge      Eastman City
                                                                            Downtown Development Authority of Austell                        Eatonton         Putnam     Eatonton City
                                                                            Downtown Development Authority of Avondale Estates               Edgehill         Glascock   Edgehill City
                                                                            Downtown Development Authority of Barnesville                    Edison           Calhoun    Edison City
                                                                            Downtown Development Authority of Baxley                         Elberton         Elbert     Elberton City
                                                                            Downtown Development Authority of Bremen                         Ellaville        Schley     Ellaville City
                                                                            Downtown Development Authority of Brunswick                      Ellenton         Colquitt   Ellenton City
                                                                            Downtown Development Authority of Centerville                    Ellijay          Gilmer     Ellijay City
                                                                            Downtown Development Authority of Chatsworth                     Emerson          Bartow     Emerson City
                                                                            Downtown Development Authority of Columbus, Georgia              Enigma           Berrien    Enigma City
                                                                            Downtown Development Authority of Cordele                        Ephesus          Heard      Ephesus City
                                                                            Downtown Development Authority of Cuthbert, Georgia              Eton             Murray     Eton City
                                                                            Downtown Development Authority of Douglas                        Euharlee         Bartow     Euharlee City
                                                                            Downtown Development Authority of Fairburn                       Evans            Columbia   Census Designated Place
                                                                            Downtown Development Authority of Fitzgerald                     Experiment       Spalding   Census Designated Place
                                                                            Downtown Development Authority of Forsyth                        Fair Oaks        Cobb       Census Designated Place
                                                                            Downtown Development Authority of Fort Gaines, Georgia           Fairburn         Fulton     Fairburn City
                                                                            Downtown Development Authority of Hampton                        Fairmount        Gordon     Fairmount City
                                                                            Downtown Development Authority of Hartwell, Georgia              Fairview         Walker     Census Designated Place
                                                                            Downtown Development Authority of Hinesville, Georgia            Fargo            Clinch     Fargo City
                                                                            Downtown Development Authority of Holly Springs                  Fayetteville     Fayette    Fayetteville City
                                                                            Downtown Development Authority of Lawrenceville, GA              Fitzgerald       Ben Hill   Fitzgerald City
                                                                            Downtown Development Authority of Madison                        Flemington       Liberty    Flemington City
                                                                            Downtown Development Authority of Maysville                      Flovilla         Butts      Flovilla City
                                                                            Downtown Development Authority of Millen, Georgia                Flowery Branch Hall         Flowery Branch City
                                                                            Downtown Development Authority of Monticello, Georgia            Folkston         Charlton   Folkston City
                                                                            Downtown Development Authority of Moultrie                       Forest Park      Clayton    Forest Park City
                                                                            Downtown Development Authority of Pitts, Georgia                 Forsyth          Monroe     Forsyth City
                                                                            Downtown Development Authority of Smyrna                         Fort Gaines      Clay       Fort Gaines City
                                                                            Downtown Development Authority of Snellville, Georgia            Fort Oglethorpe Catoosa     Fort Oglethorpe City
                                                                            Downtown Development Authority of Social Circle                  Fort Stewart     Liberty    Census Designated Place
                                                                            Downtown Development Authority of the City of Atlanta            Fort Valley      Peach      Fort Valley City
                                                                            Downtown Development Authority of the City of Baconton           Franklin         Heard      Franklin City
                                                                            Downtown Development Authority of the City of Buford             Franklin Springs Franklin   Franklin Springs City
                                                                            Downtown Development Authority of the City of Canton, Georgia    Funston          Colquitt   Funston City
                                                                            Downtown Development Authority of the City of Dallas, Georgia    Gainesville      Hall       Gainesville City

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                                                                            Downtown Development Authority of the City of Darien            Garden City     Chatham      Garden City
                                                                            Downtown Development Authority of the City of Dawson            Garfield        Emanuel      Garfield City
                                                                            Downtown Development Authority of the City of Decatur           Gay             Meriwether   Gay Town
                                                                            Downtown Development Authority of the City of Douglasville      Geneva          Talbot       Geneva Town
                                                                            Downtown Development Authority of the City of Greensboro        Georgetown      Quitman      Defunct city govt
                                                                            Downtown Development Authority of the City of Jackson           Gibson          Glascock     Gibson City
                                                                            Downtown Development Authority of the City of LaFayette         Gillsville      Hall         Gillsville City
                                                                            Downtown Development Authority of the City of LaGrange          Girard          Burke        Girard Town
                                                                            Downtown Development Authority of the City of Locust Grove      Glennville      Tattnall     Glennville City
                                                                            Downtown Development Authority of the City of Monroe            Glenwood        Wheeler      Glenwood City
                                                                            Downtown Development Authority of the City of Morrow, Georgia Good Hope         Walton       Good Hope City
                                                                            Downtown Development Authority of the City of Newnan, Georgia Gordon            Wilkinson    Gordon City
                                                                            Downtown Development Authority of the City of Norcross          Graham          Appling      Graham City
                                                                            Downtown Development Authority of the City of Perry             Grantville      Coweta       Grantville City
                                                                            Downtown Development Authority of the City of Richland, Georgia Gray            Jones        Gray City
                                                                            Downtown Development Authority of the City of Rome              Grayson         Gwinnett     Grayson City
                                                                            Downtown Development Authority of the City of Rossville         Greensboro      Greene       Greensboro City
                                                                            Downtown Development Authority of the City of Roswell           Greenville      Meriwether   Greenville City
                                                                            Downtown Development Authority of the City of Royston           Gresham Park    DeKalb       Census Designated Place
                                                                            Downtown Development Authority of the City of Senoia            Griffin         Spalding     Griffin City
                                                                            Downtown Development Authority of the City of Smithville        Grovetown       Columbia     Grovetown City
                                                                            Downtown Development Authority of the City of Tallapoosa        Gum Branch      Liberty      Gum Branch City
                                                                            Downtown Development Authority of the City of Thomson           Gumlog          Towns        Census Designated Place
                                                                            Downtown Development Authority of the City of Tifton            Guyton          Effingham    Guyton City
                                                                            Downtown Development Authority of the City of Unadilla          Hagan           Evans        Hagan City
                                                                            Downtown Development Authority of the City of Vienna            Hahira          Lowndes      Hahira City
                                                                            Downtown Development Authority of the City of Warrenton         Hamilton        Harris       Hamilton City
                                                                            Downtown Development Authority of the City of Warwick           Hampton         Henry        Hampton City
                                                                            Downtown Development Authority of the City of Zebulon           Hannahs Mill    Upson        Census Designated Place
                                                                            Downtown Development Authority of the Mayor and City Council ofHapeville
                                                                                                                                            Americus        Fulton       Hapeville City
                                                                            Downtown Development Authority of Toccoa                        Haralson        Coweta       Haralson Town
                                                                            Downtown Development Authority of Woodbury                      Harlem          Columbia     Harlem City
                                                                            Downtown Development Authority of Woodstock                     Harrison        Washington   Harrison Town
                                                                            Downtown Development Authority, City of Forest Park             Hartwell        Hart         Hartwell City
                                                                            Downtown LaGrange Development Authority                         Hawkinsville    Pulaski      Hawkinsville City
                                                                            Downtown Marietta Development Authority                         Hazlehurst      Jeff Davis   Hazlehurst City
                                                                            Downtown Savannah Authority                                     Helen           White        Helen City
                                                                            Downtown Statesboro Development Authority                       Helena          Telfair      Helena City
                                                                            Downtown Waycross Development Authority                         Hephzibah       Richmond     Hephzibah City
                                                                            Dublin-Laurens County Development Authority                     Hiawassee       Towns        Hiawassee City
                                                                            Elbert County Richard B. Russell Development Authority          Higgston        Montgomery   Higgston Town
                                                                                                                                            Hilltop
                                                                            Elberton Downtown Development Authority d/b/a MainStreet Elberton               Pike         Census Designated Place
                                                                            Emanuel County Development Authority                            Hiltonia        Screven      Hiltonia City
                                                                            Emanuel-Johnson County Development Authority                    Hinesville      Liberty      Hinesville City
                                                                            Etowah Area Consolidated Housing Authority                      Hiram           Paulding     Hiram City
                                                                            Fairburn Housing Authority                                      Hoboken         Brantley     Hoboken City
                                                                            Fall Line Regional Development Authority                        Hogansville     Troup        Hogansville City
                                                                            Fayette County Development Authority                            Holly Springs   Cherokee     Holly Springs City
                                                                            Fitzgerald/Ben Hill County Development Authority                Homeland        Charlton     Homeland City
                                                                            Flint Area Consolidated Housing Authority                       Homer           Banks        Homer Town
                                                                            Fort Oglethorpe Downtown Development Authority                  Homerville      Clinch       Homerville City
                                                                            Fort Valley Downtown Development Authority                      Hoschton        Jackson      Hoschton City
                                                                            Fulton County/City of Atlanta Land Bank Authority, Inc.         Hull            Madison      Hull Town

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                                                                            Gainesville and Hall County Development Authority    Ideal          Macon        Ideal City
                                                                            Gainesville Redevelopment Authority                  Ila            Madison      Ila City
                                                                            Georgia Bioscience Joint Development Authority       Indian Springs Catoosa      Census Designated Place
                                                                            Gibson Housing Authority                             Iron City      Seminole     Iron City
                                                                            Glennville Development Authority                     Irondale       Clayton      Census Designated Place
                                                                            Glennville Downtown Development Authority            Irwinton       Wilkinson    Irwinton City
                                                                            Gordon County - Floyd County Development Authority   Isle of Hope   Chatham      Census Designated Place
                                                                            Gordon Downtown Development Authority                Ivey           Wilkinson    Ivey City
                                                                            Grady County Joint Development Authority             Jackson        Butts        Jackson City
                                                                            Greene County Development Authority                  Jacksonville   Telfair      Jacksonville City
                                                                            Griffin-Spalding County Development Authority        Jakin          Early        Jakin City
                                                                            Habersham County Development Authority               Jasper         Pickens      Jasper City
                                                                            Hapeville Development Authority                      Jefferson      Jackson      Jefferson City
                                                                            Hawkinsville Downtown Development Authority          Jeffersonville Twiggs       Jeffersonville City
                                                                            Hawkinsville Housing Authority                       Jenkinsburg    Butts        Jenkinsburg Town
                                                                            Hazlehurst Downtown Development Authority            Jersey         Walton       Jersey City
                                                                            Henry County Development Authority                   Jesup          Wayne        Jesup City
                                                                            Hogansville Development Authority                    Johns Creek    Fulton       Johns Creek City
                                                                            Housing Authority City of Sylvester, GA              Jonesboro      Clayton      Jonesboro City
                                                                            Housing Authority of City of Carrollton              Junction City Talbot        Junction City
                                                                            Housing Authority of City of Danielsville            Kennesaw       Cobb         Kennesaw City
                                                                            Housing Authority of Clayton County                  Keysville      Burke        Keysville City
                                                                            Housing Authority of Cobb County                     Kings Bay Base Camden       Census Designated Place
                                                                            Housing Authority of Columbus, Georgia               Kingsland      Camden       Kingsland City
                                                                            Housing Authority of Fulton County                   Kingston       Bartow       Kingston City
                                                                            Housing Authority of Gwinnett County                 Kite           Johnson      Kite City
                                                                            Housing Authority of Lee County                      LaFayette      Walker       LaFayette City
                                                                            Housing Authority of Savannah                        LaGrange       Troup        LaGrange City
                                                                            Housing Authority of Screven County                  Lake City      Clayton      Lake City
                                                                            Housing Authority of the City of Acworth             Lake Park      Lowndes      Lake Park City
                                                                            Housing Authority of the City of Adel, Georgia       Lakeland       Lanier       Lakeland City
                                                                            Housing Authority of the City of Alamo               Lakeview       Catoosa      Census Designated Place
                                                                            Housing Authority of the City of Albany                             Rockdale
                                                                                                                                 Lakeview Estates            Census Designated Place
                                                                            Housing Authority of the City of Ashburn             Lavonia        Franklin     Lavonia City
                                                                            Housing Authority of the City of Athens, Georgia     Lawrenceville Gwinnett      Lawrenceville City
                                                                            Housing Authority of the City of Augusta, Georgia    Leary          Calhoun      Leary City
                                                                            Housing Authority of the City of Bainbridge          Leesburg       Lee          Leesburg City
                                                                            Housing Authority of the City of Baxley              Lenox          Cook         Lenox Town
                                                                            Housing Authority of the City of Blackshear          Leslie         Sumter       Leslie City
                                                                            Housing Authority of the City of Blakely, Georgia    Lexington      Oglethorpe   Lexington City
                                                                            Housing Authority of the City of Buford, Georgia     Lilburn        Gwinnett     Lilburn City
                                                                            Housing Authority of the City of Cairo, Georgia      Lilly          Dooly        Lilly City
                                                                            Housing Authority of the City of Calhoun             Lincoln Park   Upson        Census Designated Place
                                                                            Housing Authority of the City of Camilla             Lincolnton     Lincoln      Lincolnton City
                                                                            Housing Authority of the City of Canton              Linwood        Walker       Defunct city govt
                                                                            Housing Authority of the City of Cave Spring         Lithia Springs Douglas      Defunct city govt
                                                                            Housing Authority of the City of Cedartown, Ga.      Lithonia       DeKalb       Lithonia City
                                                                            Housing Authority of the City of Clarkesville, Ga.   Locust Grove Henry          Locust Grove City
                                                                            Housing Authority of the City of Clarkston           Loganville     Walton       Loganville City
                                                                            Housing Authority of the City of Clayton, Georgia    Lone Oak       Meriwether   Lone Oak Town
                                                                            Housing Authority of the City of Cleveland, Ga.                     W
                                                                                                                                 Lookout Mountain alker      Lookout Mountain City
                                                                            Housing Authority of the City of College Park        Louisville     Jefferson    Louisville City
                                                                            Housing Authority of the City of Colquitt            Lovejoy        Clayton      Lovejoy City

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                                                                            Housing Authority of the City of Conyers                    Ludowici      Long         Ludowici City
                                                                            Housing Authority of the City of Cornelia, Ga.              Lula          Hall         Lula City
                                                                            Housing Authority of the City of Covington                  Lumber City   Telfair      Lumber City
                                                                            Housing Authority of the City of Crawfordville              Lumpkin       Stewart      Lumpkin City
                                                                            Housing Authority of the City of Cumming                    Luthersville  Meriwether   Luthersville Town
                                                                            Housing Authority of the City of Cuthbert, GA               Lyerly        Chattooga    Lyerly Town
                                                                            Housing Authority of the City of Dahlonega                  Lyons         Toombs       Lyons City
                                                                            Housing Authority of the City of Dawson                     Mableton      Cobb         Census Designated Place
                                                                            Housing Authority of the City of Decatur, Georgia           Macon         Bibb         Macon City
                                                                            Housing Authority of the City of Doerun, Georgia            Madison       Morgan       Madison City
                                                                            Housing Authority of the City of Dublin, Georgia            Manassas      Tattnall     Manassas City
                                                                            Housing Authority of the City of East Point, Georgia        Manchester    Meriwether   Manchester City
                                                                            Housing Authority of the City of Eastman                    Mansfield     Newton       Mansfield City
                                                                            Housing Authority of the City of Eatonton                   Marietta      Cobb         Marietta City
                                                                            Housing Authority of the City of Edison, GA.                Marshallville Macon        Marshallville City
                                                                            Housing Authority of the City of Ellaville                  Martin        Stephens     Martin Town
                                                                            Housing Authority of the City of Ellijay, Georgia           Martinez      Columbia     Census Designated Place
                                                                            Housing Authority of the City of Fitzgerald                 Maxeys        Oglethorpe   Maxeys Town
                                                                            Housing Authority of the City of Forsyth                    Maysville     Banks        Maysville Town
                                                                            Housing Authority of the City of Fort Gaines                McCaysville   Fannin       McCaysville City
                                                                            Housing Authority of the City of Fort Oglethorpe, Georgia   McDonough     Henry        McDonough City
                                                                            Housing Authority of the City of Fort Valley                McIntyre      Wilkinson    McIntyre Town
                                                                            Housing Authority of the City of Gainesville                McRae         Telfair      McRae City
                                                                            Housing Authority of the City of Glennville                 Meansville    Pike         Meansville City
                                                                            Housing Authority of the City of Glenwood                   Meigs         Thomas       Meigs City
                                                                            Housing Authority of the City of Grantville                 Menlo         Chattooga    Menlo City
                                                                            Housing Authority of the City of Greensboro, Georgia        Metter        Candler      Metter City
                                                                            Housing Authority of the City of Griffin                    Midville      Burke        Midville City
                                                                            Housing Authority of the City of Hahira, Georgia            Midway        Liberty      Midway City
                                                                            Housing Authority of the City of Hampton, Georgia           Milan         Telfair      Milan City
                                                                            Housing Authority of the City of Harlem, Georgia            Milledgeville Baldwin      Milledgeville City
                                                                            Housing Authority of the City of Hartwell                   Millen        Jenkins      Millen City
                                                                            Housing Authority of the City of Hinesville, Ga             Milner        Lamar        Milner City
                                                                            Housing Authority of the City of Hogansville                Milton        Fulton       Milton City
                                                                            Housing Authority of the City of Jasper                     Mineral Bluff Fannin       Defunct city govt
                                                                            Housing Authority of the City of Jefferson                  Mitchell      Glascock     Mitchell Town
                                                                            Housing Authority of the City of Jesup                      Molena        Pike         Molena City
                                                                            Housing Authority of the City of Lakeland, Georgia          Monroe        Walton       Monroe City
                                                                            Housing Authority of the City of Lavonia                    Montezuma     Macon        Montezuma City
                                                                            Housing Authority of the City of Lawrenceville, GA          Montgomery    Chatham      Census Designated Place
                                                                            Housing Authority of the City of Lithonia, Georgia          Monticello    Jasper       Monticello City
                                                                            Housing Authority of the City of Loganville, GA             Montrose      Laurens      Montrose Town
                                                                            Housing Authority of the City of Louisville                 Moody AFB     Lowndes      Census Designated Place
                                                                            Housing Authority of the City of Macon, Georgia             Moreland      Coweta       Moreland Town
                                                                            Housing Authority of the City of Madison, GA                Morgan        Calhoun      Morgan City
                                                                            Housing Authority of the City of Marietta                   Morganton     Fannin       Morganton City
                                                                            Housing Authority of the City of McDonough                  Morrow        Clayton      Morrow City
                                                                            Housing Authority of the City of Menlo, Georgia             Morven        Brooks       Morven City
                                                                            Housing Authority of the City of Metter                     Moultrie      Colquitt     Moultrie City
                                                                            Housing Authority of the City of Milledgeville and Sparta   Mount Airy    Habersham    Mount Airy Town
                                                                            Housing Authority of the City of Millen                     Mount Vernon Montgomery    Mount Vernon City
                                                                            Housing Authority of the City of Monroe, GA                 Mount Zion    Carroll      Mount Zion City
                                                                            Housing Authority of the City of Monticello                 Mountain City Rabun        Mountain City

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                                                                            Housing Authority of the City of Moultrie, Georgia                  Mountain Park Fulton           Mountain Park City
                                                                            Housing Authority of the City of Mt. Vernon                         Mountain Park Fulton           Census Designated Place
                                                                            Housing Authority of the City of Nahunta                            Nahunta           Brantley     Nahunta City
                                                                            Housing Authority of the City of Nashville, Georgia                 Nashville         Berrien      Nashville City
                                                                            Housing Authority of the City of Oakwood, Georgia                   Naylor            Lowndes      Defunct city govt
                                                                            Housing Authority of the City of Ocilla, Ga                         Nelson            Pickens      Nelson City
                                                                            Housing Authority of the City of Pearson, Georgia                   Newborn           Newton       Newborn Town
                                                                            Housing Authority of the City of Perry, Georgia                     Newington         Screven      Newington Town
                                                                            Housing Authority of the City of Quitman                            Newnan            Coweta       Newnan City
                                                                            Housing Authority of the City of Ringgold                           Newton            Baker        Newton City
                                                                            Housing Authority of the City of Roberta, GA.                       Nicholls          Coffee       Nicholls City
                                                                            Housing Authority of the City of Roswell                            Nicholson         Jackson      Nicholson Town
                                                                            Housing Authority of the City of Royston                            Norcross          Gwinnett     Norcross City
                                                                            Housing Authority of the City of Sandersville                       Norman Park Colquitt           Norman Park City
                                                                            Housing Authority of the City of Senoia                             North Atlanta DeKalb           Census Designated Place
                                                                            Housing Authority of the City of Shellman                           North Decatur DeKalb           Census Designated Place
                                                                            Housing Authority of the City of Social Circle, GA                  North Druid Hills DeKalb       Census Designated Place
                                                                            Housing Authority of the City of Soperton                           North High Shoals Oconee       North High Shoals Town
                                                                            Housing Authority of the City of Statesboro                         Norwood           Warren       Norwood City
                                                                            Housing Authority of the City of Summerville                        Nunez             Emanuel      Nunez City
                                                                            Housing Authority of the City of Swainsboro                         Oak Park          Emanuel      Oak Park Town
                                                                            Housing Authority of the City of Sylvania                           Oakwood           Hall         Oakwood City
                                                                            Housing Authority of the City of Tallapoosa, Georgia                Ochlocknee        Thomas       Ochlocknee Town
                                                                            Housing Authority of the City of Thomaston                          Ocilla            Irwin        Ocilla City
                                                                            Housing Authority of the City of Thomasville, Georgia               Oconee            Washington   Oconee City
                                                                            Housing Authority of the City of Thomson, Georgia                   Odum              Wayne        Odum City
                                                                            Housing Authority of the City of Tifton, Georgia                    Offerman          Pierce       Offerman City
                                                                            Housing Authority of the City of Toccoa, Ga.                        Oglethorpe        Macon        Oglethorpe City
                                                                            Housing Authority of the City of Vidalia                            Oliver            Screven      Oliver City
                                                                            Housing Authority of the City of Vienna                             Omaha             Stewart      Defunct city govt
                                                                            Housing Authority of the City of Warner Robins, Georgia             Omega             Tift         Omega City
                                                                            Housing Authority of the City of Warrenton                          Orchard Hill      Spalding     Orchard Hill Town
                                                                            Housing Authority of the City of Waycross                           Oxford            Newton       Oxford City
                                                                            Housing Authority of the City of Waynesboro                         Palmetto          Fulton       Palmetto City
                                                                            Housing Authority of the City of West Point                         Panthersville DeKalb           Census Designated Place
                                                                            Housing Authority of the City of Winder                             Parrott           Terrell      Parrott Town
                                                                            Housing Authority of the City of Woodbury, Georgia                  Patterson         Pierce       Patterson City
                                                                            Housing Authority of the City of Wrightsville                       Pavo              Thomas       Pavo City
                                                                            Housing Authority of the County of Atkinson, Georgia                Payne City        Bibb         Payne City
                                                                            Housing Authority of the County of DeKalb, Georgia                  Peachtree City Fayette         Peachtree City
                                                                            Housing Authority of the County of Harris                           Pearson           Atkinson     Pearson City
                                                                            Housing Authority of the County of Houston, Georgia                 Pelham            Mitchell     Pelham City
                                                                            Housing Authority of the Town of Homer, Ga.                         Pembroke          Bryan        Pembroke City
                                                                            Houston County Development Authority                                Pendergrass Jackson            Pendergrass Town          CDP Name        CDP County   CDP
                                                                            Ideal Downtown Development Authority                                Perry             Houston      Perry City                Belvedere Park DeKalb        Census Designated Place
                                                                            Jackson Housing Authority                                           Phillipsburg      Tift         Census Designated Place   Blacksville     Henry        Census Designated Place
                                                                            Jenkins County Development Authority                                Pine Lake         DeKalb       Pine Lake City            Bonanza         Clayton      Census Designated Place
                                                                                                                                                Pine Mountain Harris
                                                                            Joint Development Authority of Baker, Dougherty, Terrell, and Lee Counties                         Pine Mountain Town        Candler-McAfee               Census Designated Place
                                                                            Joint Development Authority of Bartow County and Pickens CountyPinehurst              Dooly        Pinehurst City                            Walker
                                                                                                                                                                                                         Chattanooga Valley           Census Designated Place
                                                                                                                                                Pineview
                                                                            Joint Development Authority of Brooks, Colquitt, Grady, Mitchell, and Thomas Counties Wilcox       Pineview Town             Conley          Clayton      Census Designated Place
                                                                            Joint Development Authority of Burke County and City of Waynesboro  Pitts             Wilcox       Pitts City                                Bulloch
                                                                                                                                                                                                         Country Club Estates         Census Designated Place
                                                                                                                                                Plains
                                                                            Joint Development Authority of Carroll, Haralson, Polk, Heard and Troup Counties Sumter            Plains City               Deenwood        Ware         Census Designated Place
                                                                                                                                                Plainville
                                                                            Joint Development Authority of Fannin County, Towns County and Union County Gordon                 Plainville City           Dock Junction Glynn          Census Designated Place

d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                             Part I-Project Information                                                                                                                24 of 128
Georgia Department of Community Affairs                                                    2011 Funding Application                                                                                       Office of Affordable Housing
                                 PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

                                                                                                                                              Pooler
                                                                            Joint Development Authority of Franklin, Hart and Stephens Counties               Chatham      Pooler City               Druid Hills       DeKalb      Census Designated Place
                                                                            Joint Development Authority of Hazlehurst, Lumber City and TelfairPort Wentworth Chatham
                                                                                                                                              County                       Port Wentworth City       East Griffin      Spalding    Census Designated Place
                                                                                                                                              Portal
                                                                            Joint Development Authority of Jasper, Morgan, Newton, and Walton Counties        Bulloch      Portal Town               East Newnan Coweta            Census Designated Place
                                                                                                                                              Porterdale
                                                                            Joint Development Authority of Jeff Davis County, Hazlehurst and Denton, Georgia Newton        Porterdale Town           Evans             Columbia    Census Designated Place
                                                                            Joint Development Authority of Metropolitan Atlanta               Poulan          Worth        Poulan City               Experiment        Spalding    Census Designated Place
                                                                            Joint Development Authority of Northeast Georgia                  Powder Springs Cobb          Powder Springs City       Fair Oaks         Cobb        Census Designated Place
                                                                            Joint Development Authority of Winder-Barrow County               Preston         Webster      Defunct city govt         Fairview          Walker      Census Designated Place
                                                                            Kennesaw Development Authority                                    Pulaski         Candler      Pulaski Town              Fort Stewart      Liberty     Census Designated Place
                                                                            Kennesaw Downtown Development Authority                           Putney          Dougherty    Census Designated Place   Georgetown        Quitman     Census Designated Place
                                                                            Kingsland Development Authority                                   Quitman         Brooks       Quitman City              Gresham Park DeKalb           Census Designated Place
                                                                            Kingsland Downtown Development Authority                          Ranger          Gordon       Ranger Town               Gumlog            Towns       Census Designated Place
                                                                            Kingston Downtown Development Authority                           Raoul           Habersham    Census Designated Place   Hannahs Mill      Upson       Census Designated Place
                                                                            LaFayette Housing Authority                                       Ray City        Berrien      Ray City                  Hilltop           Pike        Census Designated Place
                                                                            LaGrange Development Authority                                    Rayle           Wilkes       Rayle Town                Indian Springs Catoosa        Census Designated Place
                                                                            Lake Oconee Area Development Authority                            Rebecca         Turner       Rebecca Town              Irondale          Clayton     Census Designated Place
                                                                            Laurens-Treutlen Joint Development Authority                      Redan           DeKalb       Census Designated Place   Isle of Hope      Chatham     Census Designated Place
                                                                            Lavonia Downtown Development Authority                            Reed Creek      Hart         Census Designated Place   Kings Bay Base Camden         Census Designated Place
                                                                            Lincoln County Development Authority                              Register        Bulloch      Register Town             Lakeview          Catoosa     Census Designated Place
                                                                            Long County Housing Authority                                     Reidsville      Tattnall     Reidsville City           Lakeview EstatesRockdale      Census Designated Place
                                                                            Lyons Downtown Development Authority                              Remerton        Lowndes      Remerton City             Lincoln Park      Upson       Census Designated Place
                                                                            Macon-Bibb County Urban Development Authority                     Rentz           Laurens      Rentz City                Lithia Springs Douglas        Census Designated Place
                                                                            Marion County Development Authority                               Resaca          Gordon       Resaca Town               Mableton          Cobb        Census Designated Place
                                                                            Middle Coastal Unified Development Authority                      Rest Haven      Gwinnett     Rest Haven City           Martinez          Columbia    Census Designated Place
                                                                            Middle Georgia Regional Development Authority                     Reynolds        Taylor       Reynolds City             Midway-Hardwick               Census Designated Place
                                                                                                                                              Rhine           Dodge
                                                                            Milledgeville MainStreet/The Downtown Development Authority of the City of Milledgeville       Rhine Town                Montgomery        Chatham     Census Designated Place
                                                                            Miller County Development Authority                               Riceboro        Liberty      Riceboro City             Moody AFB         Lowndes     Census Designated Place
                                                                            Mitchell County Development Authority                             Richland        Stewart      Richland City             Mountain Park Fulton          Census Designated Place
                                                                            Montezuma Downtown Development Authority                          Richmond Hill Bryan          Richmond Hill City        North Atlanta     DeKalb      Census Designated Place
                                                                            Montgomery County Development Authority                           Riddleville     Washington   Riddleville Town          North Decatur DeKalb          Census Designated Place
                                                                            Moultrie-Colquitt County Development Authority                    Rincon          Effingham    Rincon City               North Druid Hills DeKalb      Census Designated Place
                                                                            Nashville Downtown Development Authority                          Ringgold        Catoosa      Ringgold City             Panthersville     DeKalb      Census Designated Place
                                                                            Northeast Georgia Housing Authority                               Riverdale       Clayton      Riverdale City            Phillipsburg      Tift        Census Designated Place
                                                                            Northwest Georgia Housing Authority                               Riverside       Colquitt     Riverside Town            Putney            Dougherty   Census Designated Place
                                                                            Northwest Georgia Joint Development Authority                     Roberta         Crawford     Roberta City              Raoul             Habersham   Census Designated Place
                                                                            Ocmulgee Regional Joint Development Authority                     Robins AFB      Houston      Census Designated Place   Redan             DeKalb      Census Designated Place
                                                                            Oglethorpe Development Authority                                  Rochelle        Wilcox       Rochelle City             Reed Creek        Hart        Census Designated Place
                                                                            Okefenokee Area Development Authority                             Rockmart        Polk         Rockmart City             Robins AFB        Houston     Census Designated Place
                                                                            Palmetto Housing Authority                                        Rocky Ford      Screven      Rocky Ford City           Russell           Barrow      Census Designated Place
                                                                            Pelham Housing Authority                                          Rome            Floyd        Rome City                 St. Simons        Glynn       Census Designated Place
                                                                            Pooler Development Authority                                      Roopville       Carroll      Roopville Town            Salem             Catoosa     Census Designated Place
                                                                            Port Wentworth Downtown Development Authority                     Rossville       Walker       Rossville City            Scottdale         DeKalb      Census Designated Place
                                                                            Powder Springs Downtown Development Authority                     Roswell         Fulton       Roswell City              Shannon           Floyd       Census Designated Place
                                                                            Pulaski County-Hawkinsville Development Authority                 Royston         Franklin     Royston City              Skidaway Island Chatham       Census Designated Place
                                                                            Putnam Development Authority                                      Russell         Barrow       Defunct city govt         Sunnyside         Towns       Census Designated Place
                                                                            Randolph County Development Authority                             Russell         Barrow       Census Designated Place   Sunset Village Upson          Census Designated Place
                                                                            Redevelopment Authority of Clayton County                         Rutledge        Morgan       Rutledge City             Tucker            DeKalb      Census Designated Place
                                                                            Rochelle Housing Authority                                        Sale City       Mitchell     Sale City                 Unionville        Tift        Census Designated Place
                                                                            Rockmart Development Authority                                    Salem           Catoosa      Census Designated Place   Vinings           Cobb        Census Designated Place
                                                                            Rome-Floyd County Development Authority                           Sandersville    Washington   Sandersville City                           C
                                                                                                                                                                                                     Whitemarsh Island hatham      Census Designated Place
                                                                            Sandersville Downtown Development Authority                       Sandy Springs Fulton         Sandy Springs City        Wilmington IslandChatham      Census Designated Place
                                                                            Sardis Development Authority                                      Santa Claus     Toombs       Santa Claus City
                                                                            Schley-Sumter-Macon Counties Joint Development Authority          Sardis          Burke        Sardis City
                                                                            Screven County Development Authority                              Sasser          Terrell      Sasser Town

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Georgia Department of Community Affairs                                                      2011 Funding Application                                                                                          Office of Affordable Housing
                                 PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

                                                                            Smyrna Housing Authority                                            Savannah         Chatham             Savannah City
                                                                            Social Circle Development Authority                                 Scotland         Telfair             Scotland City
                                                                            South Georgia Business and Development Authority                    Scottdale        DeKalb              Census Designated Place
                                                                            Southeast Georgia Consolidated Housing Authority                    Screven          Wayne               Screven City
                                                                            Southeast Georgia Joint Development Authority                       Select from list Select City first
                                                                            Southeast Georgia Regional Development Authority                    Senoia           Coweta              Senoia City
                                                                            Southwest Georgia Joint Development Authority                       Shady Dale       Jasper              Shady Dale City
                                                                            Sparta-Hancock County Development Authority                         Shannon          Floyd               Census Designated Place
                                                                            St. Marys Downtown Development Authority                            Sharon           Taliaferro          Sharon City
                                                                            Stephens County Development Authority                               Sharpsburg       Coweta              Sharpsburg Town
                                                                            Suwanee Downtown Development Authority                              Shellman         Randolph            Shellman City
                                                                            Tallapoosa Development Authority                                    Shiloh           Harris              Shiloh City
                                                                            Tattnall County Development Authority                               Siloam           Greene              Siloam Town
                                                                            Taylor County Development Authority                                 Skidaway Island Chatham              Census Designated Place
                                                                            Temple Downtown Development Authority                               Sky Valley       Rabun               Sky Valley City
                                                                            Terrell County Development Authority                                Smithville       Lee                 Smithville City
                                                                            The Commerce Housing Authority                                      Smyrna           Cobb                Smyrna City
                                                                            The Development Authority of Long County                            Snellville       Gwinnett            Snellville City
                                                                            The Development Authority of Pickens County                         Social Circle    Walton              Social Circle City
                                                                            The Development Authority of Snellville, Georgia                    Soperton         Treutlen            Soperton City
                                                                            The Development Authority of the City of Camilla                    Sparks           Cook                Sparks Town
                                                                            The Development Authority of the City of Manchester                 Sparta           Hancock             Sparta City
                                                                            The Development Authority of the City of Tallapoosa                 Springfield      Effingham           Springfield City
                                                                            The Downtown Development Authority of Bainbridge, Georgia           St. Marys        Camden              St. Marys City
                                                                                                                                                St.
                                                                            The Downtown Development Authority of the City of Griffin, Georgia Simons            Glynn               Census Designated Place
                                                                            The Housing Authority of the City of Americus, GA                   Stapleton        Jefferson           Stapleton City
                                                                            The Housing Authority of the City of Atlanta, Georgia               Statesboro       Bulloch             Statesboro City
                                                                            The Housing Authority of the City of Brunswick, Georgia             Statham          Barrow              Statham City
                                                                            The Housing Authority of the City of Dallas, Georgia                Stillmore        Emanuel             Stillmore City
                                                                            The Housing Authority of the City of Newnan                         Stockbridge      Henry               Stockbridge City
                                                                            The Housing Authority of the City of Washington                     Stone Mountain DeKalb                Stone Mountain City
                                                                            Thomaston Downtown Development Authority                            Sugar Hill       Gwinnett            Sugar Hill City
                                                                            Thomasville Downtown Development Authority                          Summertown Emanuel                   Summertown City
                                                                            Tift County Development Authority                                   Summerville      Chattooga           Summerville City
                                                                            Tift-Turner-Worth-Cook Joint Development Authority                  Sumner           Worth               Sumner Town
                                                                            Toombs County Development Authority                                 Sunny Side       Spalding            Sunny Side City
                                                                            Treutlen County Development Authority                               Sunnyside        Towns               Census Designated Place
                                                                            Troup County Development Authority                                  Sunset Village Upson                 Census Designated Place
                                                                            Turner County Development Authority                                 Surrency         Appling             Surrency Town
                                                                            Union City Housing Authority                                        Suwanee          Gwinnett            Suwanee City
                                                                            Urban Redevelopment Agency of Clayton County, Georgia               Swainsboro       Emanuel             Swainsboro City
                                                                            Urban Redevelopment Agency of the City of Canton                    Sycamore         Turner              Sycamore City
                                                                            Urban Redevelopment Agency of the City of Dallas                    Sylvania         Screven             Sylvania City
                                                                            Urban Redevelopment Agency of the City of Duluth                    Sylvester        Worth               Sylvester City
                                                                            Urban Redevelopment Agency of the City of Kennesaw, Georgia Talbotton                Talbot              Talbotton City
                                                                            Urban Redevelopment Authority of the City of Suwanee                Talking Rock Pickens                 Talking Rock Town
                                                                            Urban Residential Finance Authority of the City of Atlanta, Georgia Tallapoosa       Haralson            Tallapoosa City
                                                                            Valdosta Housing Authority                                          Tallulah Falls Habersham             Tallulah Falls Town
                                                                            Valley Partnership Joint Development Authority                      Talmo            Jackson             Talmo Town
                                                                            Vidalia Development Authority                                       Tarrytown        Montgomery          Tarrytown City
                                                                            Villa Rica Downtown Development Authority                           Taylorsville     Bartow              Taylorsville Town
                                                                            Walker County Development Authority                                 Temple           Carroll             Temple City
                                                                            Waycross and Ware County Development Authority                      Tennille         Washington          Tennille City

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Georgia Department of Community Affairs                                                    2011 Funding Application                                                                  Office of Affordable Housing
                                 PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

                                                                            West Central Georgia Joint Development Authority   The Rock       Upson        Defunct city govt
                                                                            West Georgia Joint Development Authority           Thomaston      Upson        Thomaston City
                                                                            West Point Development Authority                   Thomasville    Thomas       Thomasville City
                                                                            West Point Lake Development Authority              Thomson        McDuffie     Thomson City
                                                                            Winder Downtown Development Authority              Thunderbolt    Chatham      Thunderbolt Town
                                                                            Woodbine Downtown Development Authority            Tifton         Tift         Tifton City
                                                                                                                               Tiger          Rabun        Tiger Town
                                                                                                                               Tignall        Wilkes       Tignall Town
                                                                                                                               Toccoa         Stephens     Toccoa City
                                                                                                                               Toomsboro      Wilkinson    Toomsboro City
                                                                                                                               Trenton        Dade         Trenton City
                                                                                                                               Trion          Chattooga    Trion Town
                                                                                                                               Tucker         DeKalb       Census Designated Place
                                                                                                                               Tunnell Hill   Whitfield    Tunnel Hill City
                                                                                                                               Turin          Coweta       Turin Town
                                                                                                                               Twin City      Emanuel      Twin City
                                                                                                                               Ty Ty          Tift         Ty Ty City
                                                                                                                               Tybee Island Chatham        Tybee Island City
                                                                                                                               Tyrone         Fayette      Tyrone Town
                                                                                                                               Unadilla       Dooly        Unadilla City
                                                                                                                               Union City     Fulton       Union City
                                                                                                                               Union Point    Greene       Union Point City
                                                                                                                               Unionville     Tift         Census Designated Place
                                                                                                                               Uvalda         Montgomery   Uvalda City
                                                                                                                               Valdosta       Lowndes      Valdosta City
                                                                                                                               Varnell        Whitfield    Varnell City
                                                                                                                               Vernonburg     Chatham      Vernonburg Town
                                                                                                                               Vidalia        Toombs       Vidalia City
                                                                                                                               Vidette        Burke        Defunct city govt
                                                                                                                               Vienna         Dooly        Vienna City
                                                                                                                               Villa Rica     Carroll      Villa Rica City
                                                                                                                               Vinings        Cobb         Census Designated Place
                                                                                                                               Waco           Haralson     Waco Town
                                                                                                                               Wadley         Jefferson    Wadley City
                                                                                                                               Waleska        Cherokee     Waleska City
                                                                                                                               Walnut Grove Walton         Walnut Grove City
                                                                                                                               Walthourville Liberty       Walthourville City
                                                                                                                               Warm Springs Meriwether     Warm Springs City
                                                                                                                               Warner Robins Houston       Warner Robins City
                                                                                                                               Warrenton      Warren       Warrenton City
                                                                                                                               Warwick        Worth        Warwick City
                                                                                                                               Washington     Wilkes       Washington City
                                                                                                                               Watkinsville   Oconee       Watkinsville City
                                                                                                                               Waverly Hall   Harris       Waverly Hall Town
                                                                                                                               Waycross       Ware         Waycross City
                                                                                                                               Waynesboro Burke            Waynesboro City
                                                                                                                               West Point     Troup        West Point City
                                                                                                                               Weston         Webster      Defunct city govt
                                                                                                                               Whigham        Grady        Whigham City
                                                                                                                               White          Bartow       White City
                                                                                                                               White Plains   Greene       White Plains City
                                                                                                                                              Chatham
                                                                                                                               Whitemarsh Island           Census Designated Place
                                                                                                                               Whitesburg     Carroll      Whitesburg City

d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                            Part I-Project Information                                                                                27 of 128
Georgia Department of Community Affairs                                                2011 Funding Application                                                                                  Office of Affordable Housing
                                 PART ONE - PROJECT INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

                                                                                                                        Willacoochee Atkinson            Willacoochee City
                                                                                                                        Williamson      Pike             Williamson City
                                                                                                                                        C
                                                                                                                        Wilmington Island hatham         Census Designated Place
                                                                                                                        Winder          Barrow           Winder City
                                                                                                                        Winterville     Clarke           Winterville City
                                                                                                                        Woodbine        Camden           Woodbine City
                                                                                                                        Woodbury        Meriwether       Woodbury City
                                                                                                                        Woodland        Talbot           Woodland City
                                                                                                                        Woodstock       Cherokee         Woodstock City
                                                                                                                        Woodville       Greene           Woodville City
                                                                                                                        Woolsey         Fayette          Woolsey Town
                                                                                                                        Wrens           Jefferson        Wrens City
                                                                                                                        Wrightsville    Johnson          Wrightsville City
                                                                                                                        Yatesville      Upson            Yatesville Town
                                                                                                                        Young Harris Towns               Young Harris City
                                                                                                                        Zebulon         Pike             Zebulon City

                                                                                                                                          <---- Enter unlisted city here as needed, then select it from the corresponding box's drop down list.
                                                                                                                        <---- Enter unlisted tax-exempt bond issuer here as needed, then select it from the corresponding box's drop down list.




d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                       Part I-Project Information                                                                                                                28 of 128
     Georgia Department of Community Affairs                                     2011 Funding Application                                                     Office of Affordable Housing
                                          PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

I.    OWNERSHIP INFORMATION

      A. OWNERSHIP ENTITY                            Stratford Court, L.P.                                                                    Name of Principal         William E. Johnston
             Office Street Address                   329 Commercial Drive, Suite 110                                                          Title of Principal        Manager
             City                                    Savannah                             Fed Tax ID:                                         Direct line               (912) 344-6969
             State                                       GA       Zip+4 *            31406-3617       HQ Congressional District *    12       Cellular                  (912) 547-6096
             10-Digit Office Phone / Ext.            (912) 354-6096                           Fax          (912) 352-3451              E-mail Billj@norsouth.com
               (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)         * Must be verified by applicant using following websites:
      B. PROPOSED PARTNERSHIP INFORMATION                                                          Zip Codes                                  http://zip4.usps.com/zip4/welcome.jsp
         1. GENERAL PARTNER(S)                                                                     Congressional Districts:                   http://www.govtrack.us/congress/findyourreps.xpd
            a. Managing Gen'l Partner             NS Partners, LLC                                                                          Name of Principal           David H. Dixon
               Office Street Address              2000 Riveredge Parkway, Suite 950                                                         Title of Principal          Manager
               City                               Atlanta                                                                                   Direct line                 (678) 460-2860
               State                                  GA      Zip+4 *       30328-5820             HQ Congressional District *      6       Cellular                    (404) 375-1894
               10-Digit Office Phone / Ext.       (770) 850-8280                     Fax                 (770) 850-8230              E-mail Dave@norsouth.com
            b. Other General Partner                                                                                                          Name of Principal
               Office Street Address                                                                                                          Title of Principal
               City                                                                                                                           Direct line
               State                                            Zip+4                                                                         Cellular
               10-Digit Office Phone / Ext.                                               Fax                                        E-mail
            c. Other General Partner                                                                                                          Name of Principal
               Office Street Address                                                                                                          Title of Principal
               City                                                                                                                           Direct line
               State                                            Zip+4                                                                         Cellular
               10-Digit Office Phone / Ext.                                               Fax                                        E-mail
         2. LIMITED PARTNERS (PROPOSED OR ACTUAL)
            a. Federal Limited Partner            RBC Capital Markets                                                                       Name of Principal     Brian Flanagan
               Office Street Address              2101 Rexford Road , Suite 375W                                                            Title of Principal    Regional Director
               City                               Charlotte                                                                                 Direct line           (980) 233-6462
               State                                  NC       Zip+4         28211-0000                                                     Cellular              (704) 608-4188
               10-Digit Office Phone / Ext.       (980) 233-6462                      Fax                (980) 233-6501              E-mail brian.flanagan@rbc.com
            b. State Limited Partner              RBC Capital Markets                                                                       Name of Principal     Brian Flanagan
               Office Street Address              2101 Rexford Road, Suite 375W                                                             Title of Principal    Regional Director
               City                               Charlotte                                                                                 Direct line           (980) 233-6462
               State                                  NC       Zip+4         28211-0000                                                     Cellular              (704) 608-4188
               10-Digit Office Phone / Ext.       (980) 233-6462                      Fax                (980) 233-6501              E-mail brian.flanagan@rbc.com



     d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                          Part II-Development Team                                                                              29 of 128
 Georgia Department of Community Affairs                                2011 Funding Application                                         Office of Affordable Housing
                                       PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

      3. NONPROFIT SPONSOR
            Nonprofit Sponsor                                                                                             Name of Principal
            Office Street Address                                                                                         Title of Principal
            City                                                                                                          Direct line
            State                                         Zip+4                                                           Cellular
            10-Digit Office Phone / Ext.                                        Fax                              E-mail

II. DEVELOPER(S)

   A. DEVELOPER                               Norsouth Development Company of Georgia, LLC                              Name of Principal       David H. Dixon
           Office Street Address              2000 Riveredge Parkway, Suite 950                                         Title of Principal      Manager
           City                               Atlanta                                                                   Direct line             (678) 460-2860
           State                                  GA       Zip+4        30328-5820                                      Cellular                (404) 375-1894
           10-Digit Office Phone / Ext.       (770) 850-8280                     Fax         (770) 850-8230      E-mail Dave@norsouth.com
   B. CO-DEVELOPER 1                                                                                                      Name of Principal
           Office Street Address                                                                                          Title of Principal
           City                                                                                                           Direct line
           State                                          Zip+4                                                           Cellular
           10-Digit Office Phone / Ext.                                         Fax                              E-mail
   C. CO-DEVELOPER 2                                                                                                      Name of Principal
           Office Street Address                                                                                          Title of Principal
           City                                                                                                           Direct line
           State                                          Zip+4                                                           Cellular
           10-Digit Office Phone / Ext.                                         Fax                              E-mail
   D. DEVELOPMENT CONSULTANT                                                                                              Name of Principal
           Office Street Address                                                                                          Title of Principal
           City                                                                                                           Direct line
           State                                          Zip+4                                                           Cellular
           10-Digit Office Phone / Ext.                                         Fax                              E-mail




 d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                     Part II-Development Team                                                               30 of 128
 Georgia Department of Community Affairs                                  2011 Funding Application                                      Office of Affordable Housing
                                      PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

III. OTHER PROJECT TEAM MEMBERS

   A. OWNERSHIP CONSULTANT                                                                                               Name of Principal
          Office Street Address                                                                                          Title of Principal
          City                                                                                                           Direct line
          State                                           Zip+4                                                          Cellular
          10-Digit Office Phone / Ext.                                            Fax                           E-mail
   B. GENERAL CONTRACTOR                     Norsouth Construction Company of Georgia, Inc                             Name of Principal       Mike Creeden
          Office Street Address              329 Commercial Drive, Suite 110                                           Title of Principal      Vice President
          City                               Savannah                                                                  Direct line             (912) 644-6961
          State                                  GA       Zip+4          31406-3617                                    Cellular                (404) 617-9539
          10-Digit Office Phone / Ext.       (912) 354-6096                       Fax          (912) 352-3451   E-mail mike@norsouth.com
   C. MANAGEMENT COMPANY                     Norsouth Management Company, Inc.                                         Name of Principal       William E. Johnston
          Office Street Address              329 Commercial Drive, Suite 110                                           Title of Principal      President
          City                               Savannah                                                                  Direct line             (912) 644-6969
          State                                  GA       Zip+4          31406-3617                                    Cellular                (912) 547-6096
          10-Digit Office Phone / Ext.       (912) 354-6096                       Fax          (912) 352-3451   E-mail Billj@norsouth.com
   D. ATTORNEY                               Hunter MacLean Exley & Dunn                                               Name of Principal  Ted Henneman
          Office Street Address              200 East Saint Julian Street                                              Title of Principal Attorney
          City                               Savannah                                                                  Direct line        (912) 944-1635
          State                                  GA       Zip+4           31401-2700                                   Cellular           (912) 441-3863
          10-Digit Office Phone / Ext.       (912) 236-0261                        Fax         (912) 236-4926   E-mail Thenneman@huntermaclean.com
   E. ACCOUNTANT                             Reznick Group                                                             Name of Principal    Tim Kemper
          Office Street Address              2002 Summit Boulevard, Suite 1000                                         Title of Principal   Managing Principal
          City                               Atlanta                                                                   Direct line          (404) 847-9447
          State                                  GA       Zip+4         30319-1470                                     Cellular             (678) 576-0400
          10-Digit Office Phone / Ext.       (404) 847-9447                      Fax                            E-mail Timothy.kemper@reznickgroup.com
   F. ARCHITECT                              Foley Design Associates Architects, Inc.                                  Name of Principal       William H. Foley
           Office Street Address             1513 Cleveland Avenue, Building 100, Suite 102                            Title of Principal      President
           City                              East Point                                                                Direct line             (404) 761-1299
           State                                 GA       Zip+4         30344-0000                                     Cellular                (678) 409-6042
           10-Digit Office Phone / Ext.      (404) 761-1299                         Fax        (404) 763-3172   E-mail Billfoley@foleydesign.com




 d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                       Part II-Development Team                                                            31 of 128
     Georgia Department of Community Affairs                                                 2011 Funding Application                                                  Office of Affordable Housing
                                                PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

IV. OTHER REQUIRED INFORMATION (Answer each of the questions below for each participant listed below.)
                      1. Has this entity   2. Is this    3. Has any person,         4. Does this entity have 5. Does this entity have 6. Has this entity ever been 7. Applicable            8. Project
                     withdrawn or been     entity a     principal, or agent for    an identity of interest with an identity of interest with debarred or suspended       Organizational     Ownership
                   involuntarily removed MBE/            this entity ever been       any other entity in this    any member, officer, or      from any local, state, or Type (For Profit,   Percentage
                 from a HOME or LIHTC WBE?              convicted of a felony        chart? If yes, attach        employee of DCA? If        federal housing program? Nonprofit, CHDO)
 Participant        project in the last 36
                                                        (Yes or No)?. If yes,            explanation.           yes, attach explanation. If yes, attach explanation.
                    months (Y/N)? If Y,
                                                        attach explanation.
                    attach explanation.


Manage GP                  No                 No                  No                            Yes                             No                    No                   For Profit            0.0090%
Other GP1
Other GP2
Federal LP                 No                 No                  No                            No                              No                    No                   For Profit           98.9910%
State LP                   No                 No                                                No                              No                    No                   For Profit            1.0000%
NP Sponsor
Developer                  No                 No                  No                            Yes                             No                    No                   For Profit            0.0000%
Co-Develpr 1
Co-Develpr 2
Ownr Consult
Dev Consult
Contractor                 No                 No                  No                            Yes                             No                   Yes                   For Profit           0.0000%
Mgt Co                     No                 No                  No                            Yes                             No                   No                    For Profit           0.0000%
                                                                                                                                                                                    Total     100.0000%

V.       APPLICANT COMMENTS AND CLARIFICATIONS                                                                                             VI.         DCA COMMENTS - DCA USE ONLY
Part IV. (4) - The Managing General Partner, Developer, Contractor and Management Company are related entities through William E.
Johnston and David H. Dixon. As a result of this identity of interest between the Developer and General Contractor the Applicant removed
the builder profit from its calculation of developer fee.
Part IV. (6) - Please see the explanation on the debarment of the Contractor - William E. Johnston - this is included with this section.




     d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                      Part II-Development Team                                                                       32 of 128
Georgia Department of Community Affairs                           2011 Funding Application                                    Office of Affordable Housing
                                  PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-049 Stratford Court, Winder, Barrow County



                                                                                                                              State
                                                                                                                              AL
                                                                                                                              AK
                                                                                                                              AZ
                                                                                                                              AR
                                                                                                                              CA
                                                                                                                              CO
                                                                                                                              CT
                                                                                                                              DE
                                                                                                                              DC
                                                                                                                              FL
                                                                                                                              GA
                                                                                                                              HI
                                                                                                                              ID
                                                                                                                              IL
                                                                                                                              IN
                                                                                                                              IA
                                                                                                                              KS
                                                                                                                              KY
                                                                                                                              LA
                                                                                                                              ME
                                                                                                                              MD
                                                                                                                              MA
                                                                                                                              MI
                                                                                                                              MN
                                                                                                                              MS
                                                                                                                              MO
                                                                                                                              MT
                                                                                                                              NE
                                                                                                                              NV
                                                                                                                              NH
                                                                                                                              NJ
                                                                                                                              NM
                                                                                                                              NY
                                                                                                                              NC
                                                                                                                              ND
                                                                                                                              OH
                                                                                                                              OK
                                                                                                                              OR
                                                                                                                              PA

d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011               Part II-Development Team                                                       33 of 128
Georgia Department of Community Affairs                           2011 Funding Application                                    Office of Affordable Housing
                                  PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-049 Stratford Court, Winder, Barrow County

                                                                                                                              RI
                                                                                                                              SC
                                                                                                                              SD
                                                                                                                              TN
                                                                                                                              TX
                                                                                                                              UT
                                                                                                                              VT
                                                                                                                              VA
                                                                                                                              WA
                                                                                                                              WV
                                                                                                                              WI
                                                                                                                              WY




d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011               Part II-Development Team                                                       34 of 128
      Georgia Department of Community Affairs                                                    2011 Funding Application                                                                Office of Affordable Housing
                                                    PART THREE - SOURCES OF FUNDS - 2011-049 Stratford Court, Winder, Barrow County


I.     GOVERNMENT FUNDING SOURCES (check all that apply)

          Yes       Tax Credits                No      DCA HOME* --> amt from DCA Consent Ltr:                    N/A                            No       Historic Rehab Credits
           No       Tax Exempt Bonds           No      DCA PSHP HOME*                                       No      CDBG                         No       FHA Insured Mortgage
           No       Taxable Bonds              No      Other HOME*                                          No      FHA Risk Share               No       Other NSP* - Amount:
           No       USDA 515                   No      USDA 538                     No      HOPE VI         No      FHLB / AHP*                  No       Other - describe here
       *This source may possibly trigger Uniform Relocation Act and/or HUD 104(d) reqmts. Check with source. For DCA HOME, refer to Relocation Manual. NSP = Neighborhood Stabilization Program


II.    CONSTRUCTION FINANCING

       Financing Type                                                           Name of Financing Entity                                Amount            Effective Interest Rate   Term (In Months)
       Mortgage A                                                               SunTrust Community Capital                                   2,980,352           6.000%                     24
       Mortgage B
       Mortgage C
       Federal Grant
       State, Local, or Private Grant
       Deferred Developer Fees
       Federal Housing Credit Equity                                            RBC Capital Markets                                          3,272,500
       State Housing Credit Equity                                              RBC Capital Markets                                          1,001,000
       Other Type (specify)
       Other Type (specify)
       Other Type (specify)
       Total Construction Financing:                                                                                                         7,253,852
       Total Construction Period Costs from Development Budget:                                                                              7,253,852
       Surplus / (Shortage) of Construction funds to Construction costs:                                                                              0




      d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                           Part III A-Sources of Funds                                                                            35 of 128
       Georgia Department of Community Affairs                                                              2011 Funding Application                                                              Office of Affordable Housing
                                                        PART THREE - SOURCES OF FUNDS - 2011-049 Stratford Court, Winder, Barrow County

III.    PERMANENT FINANCING
                                                                                                                     Effective       Term      Amort.      Annual Debt Service                        Target
        Financing Type                    Name of Financing Entity                          Principal Amount         Int Rate       (Years)    (Years)        in Year One           Loan Type          DCR
        Mortgage A                                                                                              0    0.000%            0          0                                 Amortizing
        Mortgage B
        Mortgage C
        Other:
        Grant from foundation or charity
        Deferred Devlpr Fee       28.21% Norsouth Development Co. of GA                                 287,696       0.000%                                           63,041       Cash Flow          1.00
        Federal Grant                                                                                                                                                                                                    TC Equity
        State, Local, or Private Grant                                                                                    Equity Check          +/-                                                                      % of TDC
        Federal Housing Credit Equity     RBC Capital Markets                                         6,545,000            6,545,000                     0 Proposed DCA HOME Loan Interest Rate by Operating               74%
        State Housing Credit Equity       RBC Capital Markets                                         2,002,000            2,002,000                     0           Year for Projects in Rural Areas:                     23%
        Historic Credit Equity                                                                                                                               Year:      1 -7       8         9          10                 97%
        Invstmt Earnings: T-E Bonds                                                                                                                          Rate:
        Invstmt Earnings: Taxable Bonds                                                                                                                       11        12        13         14         15
        Income from Operations
        Other:                                                                                                                                                16        17        18         19         20
        Other:
        Other:                                                                                                                                                21        22        23         24         25
        Total Permanent Financing:                                                             8,834,696
        Total Development Costs from Development Budget:                                       8,834,696                                                      26        27        28         29         30
        Surplus/(Shortage) of Permanent funds to development costs:                                0
IV.     APPLICANT COMMENTS AND CLARIFICATIONS                                                                                     IV.         DCA COMMENTS - DCA USE ONLY
Part II - the construction loan interest rate is a variable rate that is currently equal to 3.18%. We are using an underwriting
rate of 6.0% that is commonly used in any variable rate loan underwriting.



Part III - This project is assumed to have no permanent debt in order to ensure long-term feasibility given the very
affordable rural rental rates combined with operating expenses associated with an urban MSA location.



Part III - The deferred development fee will be incorporated into the Limited Partnership Agreement as allowed by DCA in
Threshold Section I. It will be paid from available cash flow per the terms of the LPA waterfall and will be paid well within
fifteen (15) years.




       d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                     Part III A-Sources of Funds                                                                          36 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                 PART III B: USD 538 LOAN - 2011-049 Stratford Court, Winder, Barrow County

                                                  I. Data Input
 Loan Amount:                                                                       $0.00                    $0.00
 Interest Rate:           USDA Spread               0.00%           (aka Interest Assistance Rate in USDA Handbook)
                          Effective Rate                            (Effective Interest Assistance Rate in USDA Handbook)
 USDA Annual Fee                                    0.00%           (per annum)
 Loan Term (yrs)
 Amortization Pd (yrs)
 Annual P & I                                      #DIV/0!                 #DIV/0!                  #DIV/0!
 Monthly P & I                                     #DIV/0!                 #DIV/0!                  #DIV/0!

                                 II. Interest Credit / USDA Annual Guaranty Fee
          Year               Interest Credit    Guarantee Fee                     Annual Debt Svc
            1                     $0.00            $0.00                              $0.00
            2                     $0.00            $0.00                              $0.00
            3                     $0.00            $0.00                              $0.00
            4                     $0.00            $0.00                              $0.00
            5                     $0.00            $0.00                              $0.00
            6                     $0.00            $0.00                              $0.00
            7                     $0.00            $0.00                              $0.00
            8                     $0.00            $0.00                              $0.00
            9                     $0.00            $0.00                              $0.00
           10                     $0.00            $0.00                              $0.00
           11                     $0.00            $0.00                              $0.00
           12                     $0.00            $0.00                              $0.00
           13                     $0.00            $0.00                              $0.00
           14                     $0.00            $0.00                              $0.00
           15                     $0.00            $0.00                              $0.00
           16                     $0.00            $0.00                              $0.00
           17                     $0.00            $0.00                              $0.00
           18                     $0.00            $0.00                              $0.00
           19                     $0.00            $0.00                              $0.00
           20                     $0.00            $0.00                              $0.00
           21                     $0.00            $0.00                              $0.00
           22                     $0.00            $0.00                              $0.00
           23                     $0.00            $0.00                              $0.00
           24                     $0.00            $0.00                              $0.00
           25                     $0.00            $0.00                              $0.00
           26                     $0.00            $0.00                              $0.00
           27                     $0.00            $0.00                              $0.00
           28                     $0.00            $0.00                              $0.00
           29                     $0.00            $0.00                              $0.00
           30                     $0.00            $0.00                              $0.00
           31                     $0.00            $0.00                              $0.00
           32                     $0.00            $0.00                              $0.00
           33                     $0.00            $0.00                              $0.00
           34                     $0.00            $0.00                              $0.00
           35                     $0.00            $0.00                              $0.00
           36                     $0.00            $0.00                              $0.00
           37                     $0.00            $0.00                              $0.00
           38                     $0.00            $0.00                              $0.00
           39                     $0.00            $0.00                              $0.00
           40                     $0.00            $0.00                              $0.00


Georgia Department of Community Affairs        Part III B-USDA 538 Loan                                               37 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
         Month                   P&I Payment                     Interest            Principal   Balance        Year
          Close                                                                                        $0.00
            1                               $0.00                  $0.00                $0.00          $0.00
            2                               $0.00                  $0.00                $0.00          $0.00
            3                               $0.00                  $0.00                $0.00          $0.00
            4                               $0.00                  $0.00                $0.00          $0.00
            5                               $0.00                  $0.00                $0.00          $0.00
            6                               $0.00                  $0.00                $0.00          $0.00
            7                               $0.00                  $0.00                $0.00          $0.00
            8                               $0.00                  $0.00                $0.00          $0.00
            9                               $0.00                  $0.00                $0.00          $0.00
           10                               $0.00                  $0.00                $0.00          $0.00
           11                               $0.00                  $0.00                $0.00          $0.00
           12                               $0.00                  $0.00                $0.00          $0.00      1
           13                               $0.00                  $0.00                $0.00          $0.00
           14                               $0.00                  $0.00                $0.00          $0.00
           15                               $0.00                  $0.00                $0.00          $0.00
           16                               $0.00                  $0.00                $0.00          $0.00
           17                               $0.00                  $0.00                $0.00          $0.00
           18                               $0.00                  $0.00                $0.00          $0.00
           19                               $0.00                  $0.00                $0.00          $0.00
           20                               $0.00                  $0.00                $0.00          $0.00
           21                               $0.00                  $0.00                $0.00          $0.00
           22                               $0.00                  $0.00                $0.00          $0.00
           23                               $0.00                  $0.00                $0.00          $0.00
           24                               $0.00                  $0.00                $0.00          $0.00      2
           25                               $0.00                  $0.00                $0.00          $0.00
           26                               $0.00                  $0.00                $0.00          $0.00
           27                               $0.00                  $0.00                $0.00          $0.00
           28                               $0.00                  $0.00                $0.00          $0.00
           29                               $0.00                  $0.00                $0.00          $0.00
           30                               $0.00                  $0.00                $0.00          $0.00
           31                               $0.00                  $0.00                $0.00          $0.00
           32                               $0.00                  $0.00                $0.00          $0.00
           33                               $0.00                  $0.00                $0.00          $0.00
           34                               $0.00                  $0.00                $0.00          $0.00
           35                               $0.00                  $0.00                $0.00          $0.00
           36                               $0.00                  $0.00                $0.00          $0.00      3
           37                               $0.00                  $0.00                $0.00          $0.00
           38                               $0.00                  $0.00                $0.00          $0.00
           39                               $0.00                  $0.00                $0.00          $0.00
           40                               $0.00                  $0.00                $0.00          $0.00
           41                               $0.00                  $0.00                $0.00          $0.00
           42                               $0.00                  $0.00                $0.00          $0.00
           43                               $0.00                  $0.00                $0.00          $0.00
           44                               $0.00                  $0.00                $0.00          $0.00
           45                               $0.00                  $0.00                $0.00          $0.00
           46                               $0.00                  $0.00                $0.00          $0.00
           47                               $0.00                  $0.00                $0.00          $0.00
           48                               $0.00                  $0.00                $0.00          $0.00      4




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                                 38 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
         Month                   P&I Payment                     Interest            Principal   Balance        Year
           49                               $0.00                  $0.00                $0.00          $0.00
           50                               $0.00                  $0.00                $0.00          $0.00
           51                               $0.00                  $0.00                $0.00          $0.00
           52                               $0.00                  $0.00                $0.00          $0.00
           53                               $0.00                  $0.00                $0.00          $0.00
           54                               $0.00                  $0.00                $0.00          $0.00
           55                               $0.00                  $0.00                $0.00          $0.00
           56                               $0.00                  $0.00                $0.00          $0.00
           57                               $0.00                  $0.00                $0.00          $0.00
           58                               $0.00                  $0.00                $0.00          $0.00
           59                               $0.00                  $0.00                $0.00          $0.00
           60                               $0.00                  $0.00                $0.00          $0.00
           61                               $0.00                  $0.00                $0.00          $0.00
           62                               $0.00                  $0.00                $0.00          $0.00      5
           63                               $0.00                  $0.00                $0.00          $0.00
           64                               $0.00                  $0.00                $0.00          $0.00
           65                               $0.00                  $0.00                $0.00          $0.00
           66                               $0.00                  $0.00                $0.00          $0.00
           67                               $0.00                  $0.00                $0.00          $0.00
           68                               $0.00                  $0.00                $0.00          $0.00
           69                               $0.00                  $0.00                $0.00          $0.00
           70                               $0.00                  $0.00                $0.00          $0.00
           71                               $0.00                  $0.00                $0.00          $0.00
           72                               $0.00                  $0.00                $0.00          $0.00
           73                               $0.00                  $0.00                $0.00          $0.00
           74                               $0.00                  $0.00                $0.00          $0.00      6
           75                               $0.00                  $0.00                $0.00          $0.00
           76                               $0.00                  $0.00                $0.00          $0.00
           77                               $0.00                  $0.00                $0.00          $0.00
           78                               $0.00                  $0.00                $0.00          $0.00
           79                               $0.00                  $0.00                $0.00          $0.00
           80                               $0.00                  $0.00                $0.00          $0.00
           81                               $0.00                  $0.00                $0.00          $0.00
           82                               $0.00                  $0.00                $0.00          $0.00
           83                               $0.00                  $0.00                $0.00          $0.00
           84                               $0.00                  $0.00                $0.00          $0.00      7
           85                               $0.00                  $0.00                $0.00          $0.00
           86                               $0.00                  $0.00                $0.00          $0.00
           87                               $0.00                  $0.00                $0.00          $0.00
           88                               $0.00                  $0.00                $0.00          $0.00
           89                               $0.00                  $0.00                $0.00          $0.00
           90                               $0.00                  $0.00                $0.00          $0.00
           91                               $0.00                  $0.00                $0.00          $0.00
           92                               $0.00                  $0.00                $0.00          $0.00
           93                               $0.00                  $0.00                $0.00          $0.00
           94                               $0.00                  $0.00                $0.00          $0.00
           95                               $0.00                  $0.00                $0.00          $0.00
           96                               $0.00                  $0.00                $0.00          $0.00      8




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                                 39 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
         Month                   P&I Payment                     Interest            Principal   Balance        Year
           97                               $0.00                  $0.00                $0.00          $0.00
           98                               $0.00                  $0.00                $0.00          $0.00
           99                               $0.00                  $0.00                $0.00          $0.00
           100                              $0.00                  $0.00                $0.00          $0.00
           101                              $0.00                  $0.00                $0.00          $0.00
           102                              $0.00                  $0.00                $0.00          $0.00
           103                              $0.00                  $0.00                $0.00          $0.00
           104                              $0.00                  $0.00                $0.00          $0.00
           105                              $0.00                  $0.00                $0.00          $0.00
           106                              $0.00                  $0.00                $0.00          $0.00
           107                              $0.00                  $0.00                $0.00          $0.00
           108                              $0.00                  $0.00                $0.00          $0.00      9
           109                              $0.00                  $0.00                $0.00          $0.00
           110                              $0.00                  $0.00                $0.00          $0.00
           111                              $0.00                  $0.00                $0.00          $0.00
           112                              $0.00                  $0.00                $0.00          $0.00
           113                              $0.00                  $0.00                $0.00          $0.00
           114                              $0.00                  $0.00                $0.00          $0.00
           115                              $0.00                  $0.00                $0.00          $0.00
           116                              $0.00                  $0.00                $0.00          $0.00
           117                              $0.00                  $0.00                $0.00          $0.00
           118                              $0.00                  $0.00                $0.00          $0.00
           119                              $0.00                  $0.00                $0.00          $0.00
           120                              $0.00                  $0.00                $0.00          $0.00      10
           121                              $0.00                  $0.00                $0.00          $0.00
           122                              $0.00                  $0.00                $0.00          $0.00
           123                              $0.00                  $0.00                $0.00          $0.00
           124                              $0.00                  $0.00                $0.00          $0.00
           125                              $0.00                  $0.00                $0.00          $0.00
           126                              $0.00                  $0.00                $0.00          $0.00
           127                              $0.00                  $0.00                $0.00          $0.00
           128                              $0.00                  $0.00                $0.00          $0.00
           129                              $0.00                  $0.00                $0.00          $0.00
           130                              $0.00                  $0.00                $0.00          $0.00
           131                              $0.00                  $0.00                $0.00          $0.00
           132                              $0.00                  $0.00                $0.00          $0.00      11
           133                              $0.00                  $0.00                $0.00          $0.00
           134                              $0.00                  $0.00                $0.00          $0.00
           135                              $0.00                  $0.00                $0.00          $0.00
           136                              $0.00                  $0.00                $0.00          $0.00
           137                              $0.00                  $0.00                $0.00          $0.00
           138                              $0.00                  $0.00                $0.00          $0.00
           139                              $0.00                  $0.00                $0.00          $0.00
           140                              $0.00                  $0.00                $0.00          $0.00
           141                              $0.00                  $0.00                $0.00          $0.00
           142                              $0.00                  $0.00                $0.00          $0.00
           143                              $0.00                  $0.00                $0.00          $0.00
           144                              $0.00                  $0.00                $0.00          $0.00      12




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                                 40 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
         Month                   P&I Payment                     Interest            Principal   Balance        Year
           145                              $0.00                  $0.00                $0.00          $0.00
           146                              $0.00                  $0.00                $0.00          $0.00
           147                              $0.00                  $0.00                $0.00          $0.00
           148                              $0.00                  $0.00                $0.00          $0.00
           149                              $0.00                  $0.00                $0.00          $0.00
           150                              $0.00                  $0.00                $0.00          $0.00
           151                              $0.00                  $0.00                $0.00          $0.00
           152                              $0.00                  $0.00                $0.00          $0.00
           153                              $0.00                  $0.00                $0.00          $0.00
           154                              $0.00                  $0.00                $0.00          $0.00
           155                              $0.00                  $0.00                $0.00          $0.00
           156                              $0.00                  $0.00                $0.00          $0.00      13
           157                              $0.00                  $0.00                $0.00          $0.00
           158                              $0.00                  $0.00                $0.00          $0.00
           159                              $0.00                  $0.00                $0.00          $0.00
           160                              $0.00                  $0.00                $0.00          $0.00
           161                              $0.00                  $0.00                $0.00          $0.00
           162                              $0.00                  $0.00                $0.00          $0.00
           163                              $0.00                  $0.00                $0.00          $0.00
           164                              $0.00                  $0.00                $0.00          $0.00
           165                              $0.00                  $0.00                $0.00          $0.00
           166                              $0.00                  $0.00                $0.00          $0.00
           167                              $0.00                  $0.00                $0.00          $0.00
           168                              $0.00                  $0.00                $0.00          $0.00      14
           169                              $0.00                  $0.00                $0.00          $0.00
           170                              $0.00                  $0.00                $0.00          $0.00
           171                              $0.00                  $0.00                $0.00          $0.00
           172                              $0.00                  $0.00                $0.00          $0.00
           173                              $0.00                  $0.00                $0.00          $0.00
           174                              $0.00                  $0.00                $0.00          $0.00
           175                              $0.00                  $0.00                $0.00          $0.00
           176                              $0.00                  $0.00                $0.00          $0.00
           177                              $0.00                  $0.00                $0.00          $0.00
           178                              $0.00                  $0.00                $0.00          $0.00
           179                              $0.00                  $0.00                $0.00          $0.00
           180                              $0.00                  $0.00                $0.00          $0.00      15
           181                              $0.00                  $0.00                $0.00          $0.00
           182                              $0.00                  $0.00                $0.00          $0.00
           183                              $0.00                  $0.00                $0.00          $0.00
           184                              $0.00                  $0.00                $0.00          $0.00
           185                              $0.00                  $0.00                $0.00          $0.00
           186                              $0.00                  $0.00                $0.00          $0.00
           187                              $0.00                  $0.00                $0.00          $0.00
           188                              $0.00                  $0.00                $0.00          $0.00
           189                              $0.00                  $0.00                $0.00          $0.00
           190                              $0.00                  $0.00                $0.00          $0.00
           191                              $0.00                  $0.00                $0.00          $0.00
           192                              $0.00                  $0.00                $0.00          $0.00      16




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                                 41 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
         Month                   P&I Payment                     Interest            Principal   Balance        Year
           193                              $0.00                  $0.00                $0.00          $0.00
           194                              $0.00                  $0.00                $0.00          $0.00
           195                              $0.00                  $0.00                $0.00          $0.00
           196                              $0.00                  $0.00                $0.00          $0.00
           197                              $0.00                  $0.00                $0.00          $0.00
           198                              $0.00                  $0.00                $0.00          $0.00
           199                              $0.00                  $0.00                $0.00          $0.00
           200                              $0.00                  $0.00                $0.00          $0.00
           201                              $0.00                  $0.00                $0.00          $0.00
           202                              $0.00                  $0.00                $0.00          $0.00
           203                              $0.00                  $0.00                $0.00          $0.00
           204                              $0.00                  $0.00                $0.00          $0.00      17
           205                              $0.00                  $0.00                $0.00          $0.00
           206                              $0.00                  $0.00                $0.00          $0.00
           207                              $0.00                  $0.00                $0.00          $0.00
           208                              $0.00                  $0.00                $0.00          $0.00
           209                              $0.00                  $0.00                $0.00          $0.00
           210                              $0.00                  $0.00                $0.00          $0.00
           211                              $0.00                  $0.00                $0.00          $0.00
           212                              $0.00                  $0.00                $0.00          $0.00
           213                              $0.00                  $0.00                $0.00          $0.00
           214                              $0.00                  $0.00                $0.00          $0.00
           215                              $0.00                  $0.00                $0.00          $0.00
           216                              $0.00                  $0.00                $0.00          $0.00      18
           217                              $0.00                  $0.00                $0.00          $0.00
           218                              $0.00                  $0.00                $0.00          $0.00
           219                              $0.00                  $0.00                $0.00          $0.00
           220                              $0.00                  $0.00                $0.00          $0.00
           221                              $0.00                  $0.00                $0.00          $0.00
           222                              $0.00                  $0.00                $0.00          $0.00
           223                              $0.00                  $0.00                $0.00          $0.00
           224                              $0.00                  $0.00                $0.00          $0.00
           225                              $0.00                  $0.00                $0.00          $0.00
           226                              $0.00                  $0.00                $0.00          $0.00
           227                              $0.00                  $0.00                $0.00          $0.00
           228                              $0.00                  $0.00                $0.00          $0.00      19
           229                              $0.00                  $0.00                $0.00          $0.00
           230                              $0.00                  $0.00                $0.00          $0.00
           231                              $0.00                  $0.00                $0.00          $0.00
           232                              $0.00                  $0.00                $0.00          $0.00
           233                              $0.00                  $0.00                $0.00          $0.00
           234                              $0.00                  $0.00                $0.00          $0.00
           235                              $0.00                  $0.00                $0.00          $0.00
           236                              $0.00                  $0.00                $0.00          $0.00
           237                              $0.00                  $0.00                $0.00          $0.00
           238                              $0.00                  $0.00                $0.00          $0.00
           239                              $0.00                  $0.00                $0.00          $0.00
           240                              $0.00                  $0.00                $0.00          $0.00      20




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                                 42 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
         Month                   P&I Payment                     Interest            Principal   Balance        Year
           241                              $0.00                  $0.00                $0.00          $0.00
           242                              $0.00                  $0.00                $0.00          $0.00
           243                              $0.00                  $0.00                $0.00          $0.00
           244                              $0.00                  $0.00                $0.00          $0.00
           245                              $0.00                  $0.00                $0.00          $0.00
           246                              $0.00                  $0.00                $0.00          $0.00
           247                              $0.00                  $0.00                $0.00          $0.00
           248                              $0.00                  $0.00                $0.00          $0.00
           249                              $0.00                  $0.00                $0.00          $0.00
           250                              $0.00                  $0.00                $0.00          $0.00
           251                              $0.00                  $0.00                $0.00          $0.00
           252                              $0.00                  $0.00                $0.00          $0.00      21
           253                              $0.00                  $0.00                $0.00          $0.00
           254                              $0.00                  $0.00                $0.00          $0.00
           255                              $0.00                  $0.00                $0.00          $0.00
           256                              $0.00                  $0.00                $0.00          $0.00
           257                              $0.00                  $0.00                $0.00          $0.00
           258                              $0.00                  $0.00                $0.00          $0.00
           259                              $0.00                  $0.00                $0.00          $0.00
           260                              $0.00                  $0.00                $0.00          $0.00
           261                              $0.00                  $0.00                $0.00          $0.00
           262                              $0.00                  $0.00                $0.00          $0.00
           263                              $0.00                  $0.00                $0.00          $0.00
           264                              $0.00                  $0.00                $0.00          $0.00      22
           265                              $0.00                  $0.00                $0.00          $0.00
           266                              $0.00                  $0.00                $0.00          $0.00
           267                              $0.00                  $0.00                $0.00          $0.00
           268                              $0.00                  $0.00                $0.00          $0.00
           269                              $0.00                  $0.00                $0.00          $0.00
           270                              $0.00                  $0.00                $0.00          $0.00
           271                              $0.00                  $0.00                $0.00          $0.00
           272                              $0.00                  $0.00                $0.00          $0.00
           273                              $0.00                  $0.00                $0.00          $0.00
           274                              $0.00                  $0.00                $0.00          $0.00
           275                              $0.00                  $0.00                $0.00          $0.00
           276                              $0.00                  $0.00                $0.00          $0.00      23
           277                              $0.00                  $0.00                $0.00          $0.00
           278                              $0.00                  $0.00                $0.00          $0.00
           279                              $0.00                  $0.00                $0.00          $0.00
           280                              $0.00                  $0.00                $0.00          $0.00
           281                              $0.00                  $0.00                $0.00          $0.00
           282                              $0.00                  $0.00                $0.00          $0.00
           283                              $0.00                  $0.00                $0.00          $0.00
           284                              $0.00                  $0.00                $0.00          $0.00
           285                              $0.00                  $0.00                $0.00          $0.00
           286                              $0.00                  $0.00                $0.00          $0.00
           287                              $0.00                  $0.00                $0.00          $0.00
           288                              $0.00                  $0.00                $0.00          $0.00      24




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                                 43 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
         Month                   P&I Payment                     Interest            Principal   Balance        Year
           289                              $0.00                  $0.00                $0.00          $0.00
           290                              $0.00                  $0.00                $0.00          $0.00
           291                              $0.00                  $0.00                $0.00          $0.00
           292                              $0.00                  $0.00                $0.00          $0.00
           293                              $0.00                  $0.00                $0.00          $0.00
           294                              $0.00                  $0.00                $0.00          $0.00
           295                              $0.00                  $0.00                $0.00          $0.00
           296                              $0.00                  $0.00                $0.00          $0.00
           297                              $0.00                  $0.00                $0.00          $0.00
           298                              $0.00                  $0.00                $0.00          $0.00
           299                              $0.00                  $0.00                $0.00          $0.00
           300                              $0.00                  $0.00                $0.00          $0.00      25
           301                              $0.00                  $0.00                $0.00          $0.00
           302                              $0.00                  $0.00                $0.00          $0.00
           303                              $0.00                  $0.00                $0.00          $0.00
           304                              $0.00                  $0.00                $0.00          $0.00
           305                              $0.00                  $0.00                $0.00          $0.00
           306                              $0.00                  $0.00                $0.00          $0.00
           307                              $0.00                  $0.00                $0.00          $0.00
           308                              $0.00                  $0.00                $0.00          $0.00
           309                              $0.00                  $0.00                $0.00          $0.00
           310                              $0.00                  $0.00                $0.00          $0.00
           311                              $0.00                  $0.00                $0.00          $0.00
           312                              $0.00                  $0.00                $0.00          $0.00      26
           313                              $0.00                  $0.00                $0.00          $0.00
           314                              $0.00                  $0.00                $0.00          $0.00
           315                              $0.00                  $0.00                $0.00          $0.00
           316                              $0.00                  $0.00                $0.00          $0.00
           317                              $0.00                  $0.00                $0.00          $0.00
           318                              $0.00                  $0.00                $0.00          $0.00
           319                              $0.00                  $0.00                $0.00          $0.00
           320                              $0.00                  $0.00                $0.00          $0.00
           321                              $0.00                  $0.00                $0.00          $0.00
           322                              $0.00                  $0.00                $0.00          $0.00
           323                              $0.00                  $0.00                $0.00          $0.00
           324                              $0.00                  $0.00                $0.00          $0.00      27
           325                              $0.00                  $0.00                $0.00          $0.00
           326                              $0.00                  $0.00                $0.00          $0.00
           327                              $0.00                  $0.00                $0.00          $0.00
           328                              $0.00                  $0.00                $0.00          $0.00
           329                              $0.00                  $0.00                $0.00          $0.00
           330                              $0.00                  $0.00                $0.00          $0.00
           331                              $0.00                  $0.00                $0.00          $0.00
           332                              $0.00                  $0.00                $0.00          $0.00
           333                              $0.00                  $0.00                $0.00          $0.00
           334                              $0.00                  $0.00                $0.00          $0.00
           335                              $0.00                  $0.00                $0.00          $0.00
           336                              $0.00                  $0.00                $0.00          $0.00      28




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                                 44 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
         Month                   P&I Payment                     Interest            Principal   Balance        Year
           337                              $0.00                  $0.00                $0.00          $0.00
           338                              $0.00                  $0.00                $0.00          $0.00
           339                              $0.00                  $0.00                $0.00          $0.00
           340                              $0.00                  $0.00                $0.00          $0.00
           341                              $0.00                  $0.00                $0.00          $0.00
           342                              $0.00                  $0.00                $0.00          $0.00
           343                              $0.00                  $0.00                $0.00          $0.00
           344                              $0.00                  $0.00                $0.00          $0.00
           345                              $0.00                  $0.00                $0.00          $0.00
           346                              $0.00                  $0.00                $0.00          $0.00
           347                              $0.00                  $0.00                $0.00          $0.00
           348                              $0.00                  $0.00                $0.00          $0.00      29
           349                              $0.00                  $0.00                $0.00          $0.00
           350                              $0.00                  $0.00                $0.00          $0.00
           351                              $0.00                  $0.00                $0.00          $0.00
           352                              $0.00                  $0.00                $0.00          $0.00
           353                              $0.00                  $0.00                $0.00          $0.00
           354                              $0.00                  $0.00                $0.00          $0.00
           355                              $0.00                  $0.00                $0.00          $0.00
           356                              $0.00                  $0.00                $0.00          $0.00
           357                              $0.00                  $0.00                $0.00          $0.00
           358                              $0.00                  $0.00                $0.00          $0.00
           359                              $0.00                  $0.00                $0.00          $0.00
           360                              $0.00                  $0.00                $0.00          $0.00      30
           361                              $0.00                  $0.00                $0.00          $0.00
           362                              $0.00                  $0.00                $0.00          $0.00
           363                              $0.00                  $0.00                $0.00          $0.00
           364                              $0.00                  $0.00                $0.00          $0.00
           365                              $0.00                  $0.00                $0.00          $0.00
           366                              $0.00                  $0.00                $0.00          $0.00
           367                              $0.00                  $0.00                $0.00          $0.00
           368                              $0.00                  $0.00                $0.00          $0.00
           369                              $0.00                  $0.00                $0.00          $0.00
           370                              $0.00                  $0.00                $0.00          $0.00
           371                              $0.00                  $0.00                $0.00          $0.00
           372                              $0.00                  $0.00                $0.00          $0.00      31
           373                              $0.00                  $0.00                $0.00          $0.00
           374                              $0.00                  $0.00                $0.00          $0.00
           375                              $0.00                  $0.00                $0.00          $0.00
           376                              $0.00                  $0.00                $0.00          $0.00
           377                              $0.00                  $0.00                $0.00          $0.00
           378                              $0.00                  $0.00                $0.00          $0.00
           379                              $0.00                  $0.00                $0.00          $0.00
           380                              $0.00                  $0.00                $0.00          $0.00
           381                              $0.00                  $0.00                $0.00          $0.00
           382                              $0.00                  $0.00                $0.00          $0.00
           383                              $0.00                  $0.00                $0.00          $0.00
           384                              $0.00                  $0.00                $0.00          $0.00      32




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                                 45 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
         Month                   P&I Payment                     Interest            Principal   Balance        Year
           385                              $0.00                  $0.00                $0.00          $0.00
           386                              $0.00                  $0.00                $0.00          $0.00
           387                              $0.00                  $0.00                $0.00          $0.00
           388                              $0.00                  $0.00                $0.00          $0.00
           389                              $0.00                  $0.00                $0.00          $0.00
           390                              $0.00                  $0.00                $0.00          $0.00
           391                              $0.00                  $0.00                $0.00          $0.00
           392                              $0.00                  $0.00                $0.00          $0.00
           393                              $0.00                  $0.00                $0.00          $0.00
           394                              $0.00                  $0.00                $0.00          $0.00
           395                              $0.00                  $0.00                $0.00          $0.00
           396                              $0.00                  $0.00                $0.00          $0.00      33
           397                              $0.00                  $0.00                $0.00          $0.00
           398                              $0.00                  $0.00                $0.00          $0.00
           399                              $0.00                  $0.00                $0.00          $0.00
           400                              $0.00                  $0.00                $0.00          $0.00
           401                              $0.00                  $0.00                $0.00          $0.00
           402                              $0.00                  $0.00                $0.00          $0.00
           403                              $0.00                  $0.00                $0.00          $0.00
           404                              $0.00                  $0.00                $0.00          $0.00
           405                              $0.00                  $0.00                $0.00          $0.00
           406                              $0.00                  $0.00                $0.00          $0.00
           407                              $0.00                  $0.00                $0.00          $0.00
           408                              $0.00                  $0.00                $0.00          $0.00      34
           409                              $0.00                  $0.00                $0.00          $0.00
           410                              $0.00                  $0.00                $0.00          $0.00
           411                              $0.00                  $0.00                $0.00          $0.00
           412                              $0.00                  $0.00                $0.00          $0.00
           413                              $0.00                  $0.00                $0.00          $0.00
           414                              $0.00                  $0.00                $0.00          $0.00
           415                              $0.00                  $0.00                $0.00          $0.00
           416                              $0.00                  $0.00                $0.00          $0.00
           417                              $0.00                  $0.00                $0.00          $0.00
           418                              $0.00                  $0.00                $0.00          $0.00
           419                              $0.00                  $0.00                $0.00          $0.00
           420                              $0.00                  $0.00                $0.00          $0.00      35
           421                              $0.00                  $0.00                $0.00          $0.00
           422                              $0.00                  $0.00                $0.00          $0.00
           423                              $0.00                  $0.00                $0.00          $0.00
           424                              $0.00                  $0.00                $0.00          $0.00
           425                              $0.00                  $0.00                $0.00          $0.00
           426                              $0.00                  $0.00                $0.00          $0.00
           427                              $0.00                  $0.00                $0.00          $0.00
           428                              $0.00                  $0.00                $0.00          $0.00
           429                              $0.00                  $0.00                $0.00          $0.00
           430                              $0.00                  $0.00                $0.00          $0.00
           431                              $0.00                  $0.00                $0.00          $0.00
           432                              $0.00                  $0.00                $0.00          $0.00      36




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                                 46 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
         Month                   P&I Payment                     Interest            Principal   Balance        Year
           433                              $0.00                  $0.00                $0.00          $0.00
           434                              $0.00                  $0.00                $0.00          $0.00
           435                              $0.00                  $0.00                $0.00          $0.00
           436                              $0.00                  $0.00                $0.00          $0.00
           437                              $0.00                  $0.00                $0.00          $0.00
           438                              $0.00                  $0.00                $0.00          $0.00
           439                              $0.00                  $0.00                $0.00          $0.00
           440                              $0.00                  $0.00                $0.00          $0.00
           441                              $0.00                  $0.00                $0.00          $0.00
           442                              $0.00                  $0.00                $0.00          $0.00
           443                              $0.00                  $0.00                $0.00          $0.00
           444                              $0.00                  $0.00                $0.00          $0.00      37
           445                              $0.00                  $0.00                $0.00          $0.00
           446                              $0.00                  $0.00                $0.00          $0.00
           447                              $0.00                  $0.00                $0.00          $0.00
           448                              $0.00                  $0.00                $0.00          $0.00
           449                              $0.00                  $0.00                $0.00          $0.00
           450                              $0.00                  $0.00                $0.00          $0.00
           451                              $0.00                  $0.00                $0.00          $0.00
           452                              $0.00                  $0.00                $0.00          $0.00
           453                              $0.00                  $0.00                $0.00          $0.00
           454                              $0.00                  $0.00                $0.00          $0.00
           455                              $0.00                  $0.00                $0.00          $0.00
           456                              $0.00                  $0.00                $0.00          $0.00      38
           457                              $0.00                  $0.00                $0.00          $0.00
           458                              $0.00                  $0.00                $0.00          $0.00
           459                              $0.00                  $0.00                $0.00          $0.00
           460                              $0.00                  $0.00                $0.00          $0.00
           461                              $0.00                  $0.00                $0.00          $0.00
           462                              $0.00                  $0.00                $0.00          $0.00
           463                              $0.00                  $0.00                $0.00          $0.00
           464                              $0.00                  $0.00                $0.00          $0.00
           465                              $0.00                  $0.00                $0.00          $0.00
           466                              $0.00                  $0.00                $0.00          $0.00
           467                              $0.00                  $0.00                $0.00          $0.00
           468                              $0.00                  $0.00                $0.00          $0.00      39
           469                              $0.00                  $0.00                $0.00          $0.00
           470                              $0.00                  $0.00                $0.00          $0.00
           471                              $0.00                  $0.00                $0.00          $0.00
           472                              $0.00                  $0.00                $0.00          $0.00
           473                              $0.00                  $0.00                $0.00          $0.00
           474                              $0.00                  $0.00                $0.00          $0.00
           475                              $0.00                  $0.00                $0.00          $0.00
           476                              $0.00                  $0.00                $0.00          $0.00
           477                              $0.00                  $0.00                $0.00          $0.00
           478                              $0.00                  $0.00                $0.00          $0.00
           479                              $0.00                  $0.00                $0.00          $0.00
           480                              $0.00                  $0.00                $0.00          $0.00      40




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                                 47 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations




Georgia Department of Community Affairs        Part III B-USDA 538 Loan                48 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                  III. Amortization Schedule
                  Month        P&I Payment              Interest       Principal      Balance       Year
                  Close                                                                     $0.00
                    1                     $0.00           $0.00            $0.00            $0.00
                    2                     $0.00           $0.00            $0.00            $0.00
                    3                     $0.00           $0.00            $0.00            $0.00
                    4                     $0.00           $0.00            $0.00            $0.00
                    5                     $0.00           $0.00            $0.00            $0.00
                    6                     $0.00           $0.00            $0.00            $0.00
                    7                     $0.00           $0.00            $0.00            $0.00
                    8                     $0.00           $0.00            $0.00            $0.00
                    9                     $0.00           $0.00            $0.00            $0.00
                   10                     $0.00           $0.00            $0.00            $0.00
                   11                     $0.00           $0.00            $0.00            $0.00
                   12                     $0.00           $0.00            $0.00            $0.00    1
                   13                     $0.00           $0.00            $0.00            $0.00
                   14                     $0.00           $0.00            $0.00            $0.00
                   15                     $0.00           $0.00            $0.00            $0.00
                   16                     $0.00           $0.00            $0.00            $0.00
                   17                     $0.00           $0.00            $0.00            $0.00
                   18                     $0.00           $0.00            $0.00            $0.00
                   19                     $0.00           $0.00            $0.00            $0.00
                   20                     $0.00           $0.00            $0.00            $0.00
                   21                     $0.00           $0.00            $0.00            $0.00
                   22                     $0.00           $0.00            $0.00            $0.00
                   23                     $0.00           $0.00            $0.00            $0.00
                   24                     $0.00           $0.00            $0.00            $0.00    2
                   25                     $0.00           $0.00            $0.00            $0.00
                   26                     $0.00           $0.00            $0.00            $0.00
                   27                     $0.00           $0.00            $0.00            $0.00
                   28                     $0.00           $0.00            $0.00            $0.00
                   29                     $0.00           $0.00            $0.00            $0.00
                   30                     $0.00           $0.00            $0.00            $0.00
                   31                     $0.00           $0.00            $0.00            $0.00
                   32                     $0.00           $0.00            $0.00            $0.00
                   33                     $0.00           $0.00            $0.00            $0.00
                   34                     $0.00           $0.00            $0.00            $0.00
                   35                     $0.00           $0.00            $0.00            $0.00
                   36                     $0.00           $0.00            $0.00            $0.00    3
                   37                     $0.00           $0.00            $0.00            $0.00
                   38                     $0.00           $0.00            $0.00            $0.00
                   39                     $0.00           $0.00            $0.00            $0.00
                   40                     $0.00           $0.00            $0.00            $0.00
                   41                     $0.00           $0.00            $0.00            $0.00
                   42                     $0.00           $0.00            $0.00            $0.00
                   43                     $0.00           $0.00            $0.00            $0.00
                   44                     $0.00           $0.00            $0.00            $0.00
                   45                     $0.00           $0.00            $0.00            $0.00
                   46                     $0.00           $0.00            $0.00            $0.00
                   47                     $0.00           $0.00            $0.00            $0.00
                   48                     $0.00           $0.00            $0.00            $0.00    4




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                             49 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                  III. Amortization Schedule
                  Month        P&I Payment              Interest       Principal      Balance       Year
                    49                    $0.00           $0.00            $0.00            $0.00
                    50                    $0.00           $0.00            $0.00            $0.00
                    51                    $0.00           $0.00            $0.00            $0.00
                    52                    $0.00           $0.00            $0.00            $0.00
                    53                    $0.00           $0.00            $0.00            $0.00
                    54                    $0.00           $0.00            $0.00            $0.00
                    55                    $0.00           $0.00            $0.00            $0.00
                    56                    $0.00           $0.00            $0.00            $0.00
                    57                    $0.00           $0.00            $0.00            $0.00
                    58                    $0.00           $0.00            $0.00            $0.00
                    59                    $0.00           $0.00            $0.00            $0.00
                    60                    $0.00           $0.00            $0.00            $0.00
                    61                    $0.00           $0.00            $0.00            $0.00
                    62                    $0.00           $0.00            $0.00            $0.00    5
                    63                    $0.00           $0.00            $0.00            $0.00
                    64                    $0.00           $0.00            $0.00            $0.00
                    65                    $0.00           $0.00            $0.00            $0.00
                    66                    $0.00           $0.00            $0.00            $0.00
                    67                    $0.00           $0.00            $0.00            $0.00
                    68                    $0.00           $0.00            $0.00            $0.00
                    69                    $0.00           $0.00            $0.00            $0.00
                    70                    $0.00           $0.00            $0.00            $0.00
                    71                    $0.00           $0.00            $0.00            $0.00
                    72                    $0.00           $0.00            $0.00            $0.00
                    73                    $0.00           $0.00            $0.00            $0.00
                    74                    $0.00           $0.00            $0.00            $0.00    6
                    75                    $0.00           $0.00            $0.00            $0.00
                    76                    $0.00           $0.00            $0.00            $0.00
                    77                    $0.00           $0.00            $0.00            $0.00
                    78                    $0.00           $0.00            $0.00            $0.00
                    79                    $0.00           $0.00            $0.00            $0.00
                    80                    $0.00           $0.00            $0.00            $0.00
                    81                    $0.00           $0.00            $0.00            $0.00
                    82                    $0.00           $0.00            $0.00            $0.00
                    83                    $0.00           $0.00            $0.00            $0.00
                    84                    $0.00           $0.00            $0.00            $0.00    7
                    85                    $0.00           $0.00            $0.00            $0.00
                    86                    $0.00           $0.00            $0.00            $0.00
                    87                    $0.00           $0.00            $0.00            $0.00
                    88                    $0.00           $0.00            $0.00            $0.00
                    89                    $0.00           $0.00            $0.00            $0.00
                    90                    $0.00           $0.00            $0.00            $0.00
                    91                    $0.00           $0.00            $0.00            $0.00
                    92                    $0.00           $0.00            $0.00            $0.00
                    93                    $0.00           $0.00            $0.00            $0.00
                    94                    $0.00           $0.00            $0.00            $0.00
                    95                    $0.00           $0.00            $0.00            $0.00
                    96                    $0.00           $0.00            $0.00            $0.00    8




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                             50 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                  III. Amortization Schedule
                  Month        P&I Payment              Interest       Principal      Balance       Year
                    97                    $0.00           $0.00            $0.00            $0.00
                    98                    $0.00           $0.00            $0.00            $0.00
                    99                    $0.00           $0.00            $0.00            $0.00
                   100                    $0.00           $0.00            $0.00            $0.00
                   101                    $0.00           $0.00            $0.00            $0.00
                   102                    $0.00           $0.00            $0.00            $0.00
                   103                    $0.00           $0.00            $0.00            $0.00
                   104                    $0.00           $0.00            $0.00            $0.00
                   105                    $0.00           $0.00            $0.00            $0.00
                   106                    $0.00           $0.00            $0.00            $0.00
                   107                    $0.00           $0.00            $0.00            $0.00
                   108                    $0.00           $0.00            $0.00            $0.00    9
                   109                    $0.00           $0.00            $0.00            $0.00
                   110                    $0.00           $0.00            $0.00            $0.00
                   111                    $0.00           $0.00            $0.00            $0.00
                   112                    $0.00           $0.00            $0.00            $0.00
                   113                    $0.00           $0.00            $0.00            $0.00
                   114                    $0.00           $0.00            $0.00            $0.00
                   115                    $0.00           $0.00            $0.00            $0.00
                   116                    $0.00           $0.00            $0.00            $0.00
                   117                    $0.00           $0.00            $0.00            $0.00
                   118                    $0.00           $0.00            $0.00            $0.00
                   119                    $0.00           $0.00            $0.00            $0.00
                   120                    $0.00           $0.00            $0.00            $0.00   10
                   121                    $0.00           $0.00            $0.00            $0.00
                   122                    $0.00           $0.00            $0.00            $0.00
                   123                    $0.00           $0.00            $0.00            $0.00
                   124                    $0.00           $0.00            $0.00            $0.00
                   125                    $0.00           $0.00            $0.00            $0.00
                   126                    $0.00           $0.00            $0.00            $0.00
                   127                    $0.00           $0.00            $0.00            $0.00
                   128                    $0.00           $0.00            $0.00            $0.00
                   129                    $0.00           $0.00            $0.00            $0.00
                   130                    $0.00           $0.00            $0.00            $0.00
                   131                    $0.00           $0.00            $0.00            $0.00
                   132                    $0.00           $0.00            $0.00            $0.00   11
                   133                    $0.00           $0.00            $0.00            $0.00
                   134                    $0.00           $0.00            $0.00            $0.00
                   135                    $0.00           $0.00            $0.00            $0.00
                   136                    $0.00           $0.00            $0.00            $0.00
                   137                    $0.00           $0.00            $0.00            $0.00
                   138                    $0.00           $0.00            $0.00            $0.00
                   139                    $0.00           $0.00            $0.00            $0.00
                   140                    $0.00           $0.00            $0.00            $0.00
                   141                    $0.00           $0.00            $0.00            $0.00
                   142                    $0.00           $0.00            $0.00            $0.00
                   143                    $0.00           $0.00            $0.00            $0.00
                   144                    $0.00           $0.00            $0.00            $0.00   12




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                             51 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                  III. Amortization Schedule
                  Month        P&I Payment              Interest       Principal      Balance       Year
                   145                    $0.00           $0.00            $0.00            $0.00
                   146                    $0.00           $0.00            $0.00            $0.00
                   147                    $0.00           $0.00            $0.00            $0.00
                   148                    $0.00           $0.00            $0.00            $0.00
                   149                    $0.00           $0.00            $0.00            $0.00
                   150                    $0.00           $0.00            $0.00            $0.00
                   151                    $0.00           $0.00            $0.00            $0.00
                   152                    $0.00           $0.00            $0.00            $0.00
                   153                    $0.00           $0.00            $0.00            $0.00
                   154                    $0.00           $0.00            $0.00            $0.00
                   155                    $0.00           $0.00            $0.00            $0.00
                   156                    $0.00           $0.00            $0.00            $0.00   13
                   157                    $0.00           $0.00            $0.00            $0.00
                   158                    $0.00           $0.00            $0.00            $0.00
                   159                    $0.00           $0.00            $0.00            $0.00
                   160                    $0.00           $0.00            $0.00            $0.00
                   161                    $0.00           $0.00            $0.00            $0.00
                   162                    $0.00           $0.00            $0.00            $0.00
                   163                    $0.00           $0.00            $0.00            $0.00
                   164                    $0.00           $0.00            $0.00            $0.00
                   165                    $0.00           $0.00            $0.00            $0.00
                   166                    $0.00           $0.00            $0.00            $0.00
                   167                    $0.00           $0.00            $0.00            $0.00
                   168                    $0.00           $0.00            $0.00            $0.00   14
                   169                    $0.00           $0.00            $0.00            $0.00
                   170                    $0.00           $0.00            $0.00            $0.00
                   171                    $0.00           $0.00            $0.00            $0.00
                   172                    $0.00           $0.00            $0.00            $0.00
                   173                    $0.00           $0.00            $0.00            $0.00
                   174                    $0.00           $0.00            $0.00            $0.00
                   175                    $0.00           $0.00            $0.00            $0.00
                   176                    $0.00           $0.00            $0.00            $0.00
                   177                    $0.00           $0.00            $0.00            $0.00
                   178                    $0.00           $0.00            $0.00            $0.00
                   179                    $0.00           $0.00            $0.00            $0.00
                   180                    $0.00           $0.00            $0.00            $0.00   15
                   181                    $0.00           $0.00            $0.00            $0.00
                   182                    $0.00           $0.00            $0.00            $0.00
                   183                    $0.00           $0.00            $0.00            $0.00
                   184                    $0.00           $0.00            $0.00            $0.00
                   185                    $0.00           $0.00            $0.00            $0.00
                   186                    $0.00           $0.00            $0.00            $0.00
                   187                    $0.00           $0.00            $0.00            $0.00
                   188                    $0.00           $0.00            $0.00            $0.00
                   189                    $0.00           $0.00            $0.00            $0.00
                   190                    $0.00           $0.00            $0.00            $0.00
                   191                    $0.00           $0.00            $0.00            $0.00
                   192                    $0.00           $0.00            $0.00            $0.00   16




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                             52 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                  III. Amortization Schedule
                  Month        P&I Payment              Interest       Principal      Balance       Year
                   193                    $0.00           $0.00            $0.00            $0.00
                   194                    $0.00           $0.00            $0.00            $0.00
                   195                    $0.00           $0.00            $0.00            $0.00
                   196                    $0.00           $0.00            $0.00            $0.00
                   197                    $0.00           $0.00            $0.00            $0.00
                   198                    $0.00           $0.00            $0.00            $0.00
                   199                    $0.00           $0.00            $0.00            $0.00
                   200                    $0.00           $0.00            $0.00            $0.00
                   201                    $0.00           $0.00            $0.00            $0.00
                   202                    $0.00           $0.00            $0.00            $0.00
                   203                    $0.00           $0.00            $0.00            $0.00
                   204                    $0.00           $0.00            $0.00            $0.00   17
                   205                    $0.00           $0.00            $0.00            $0.00
                   206                    $0.00           $0.00            $0.00            $0.00
                   207                    $0.00           $0.00            $0.00            $0.00
                   208                    $0.00           $0.00            $0.00            $0.00
                   209                    $0.00           $0.00            $0.00            $0.00
                   210                    $0.00           $0.00            $0.00            $0.00
                   211                    $0.00           $0.00            $0.00            $0.00
                   212                    $0.00           $0.00            $0.00            $0.00
                   213                    $0.00           $0.00            $0.00            $0.00
                   214                    $0.00           $0.00            $0.00            $0.00
                   215                    $0.00           $0.00            $0.00            $0.00
                   216                    $0.00           $0.00            $0.00            $0.00   18
                   217                    $0.00           $0.00            $0.00            $0.00
                   218                    $0.00           $0.00            $0.00            $0.00
                   219                    $0.00           $0.00            $0.00            $0.00
                   220                    $0.00           $0.00            $0.00            $0.00
                   221                    $0.00           $0.00            $0.00            $0.00
                   222                    $0.00           $0.00            $0.00            $0.00
                   223                    $0.00           $0.00            $0.00            $0.00
                   224                    $0.00           $0.00            $0.00            $0.00
                   225                    $0.00           $0.00            $0.00            $0.00
                   226                    $0.00           $0.00            $0.00            $0.00
                   227                    $0.00           $0.00            $0.00            $0.00
                   228                    $0.00           $0.00            $0.00            $0.00   19
                   229                    $0.00           $0.00            $0.00            $0.00
                   230                    $0.00           $0.00            $0.00            $0.00
                   231                    $0.00           $0.00            $0.00            $0.00
                   232                    $0.00           $0.00            $0.00            $0.00
                   233                    $0.00           $0.00            $0.00            $0.00
                   234                    $0.00           $0.00            $0.00            $0.00
                   235                    $0.00           $0.00            $0.00            $0.00
                   236                    $0.00           $0.00            $0.00            $0.00
                   237                    $0.00           $0.00            $0.00            $0.00
                   238                    $0.00           $0.00            $0.00            $0.00
                   239                    $0.00           $0.00            $0.00            $0.00
                   240                    $0.00           $0.00            $0.00            $0.00   20




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                             53 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                  III. Amortization Schedule
                  Month        P&I Payment              Interest       Principal      Balance       Year
                   241                    $0.00           $0.00            $0.00            $0.00
                   242                    $0.00           $0.00            $0.00            $0.00
                   243                    $0.00           $0.00            $0.00            $0.00
                   244                    $0.00           $0.00            $0.00            $0.00
                   245                    $0.00           $0.00            $0.00            $0.00
                   246                    $0.00           $0.00            $0.00            $0.00
                   247                    $0.00           $0.00            $0.00            $0.00
                   248                    $0.00           $0.00            $0.00            $0.00
                   249                    $0.00           $0.00            $0.00            $0.00
                   250                    $0.00           $0.00            $0.00            $0.00
                   251                    $0.00           $0.00            $0.00            $0.00
                   252                    $0.00           $0.00            $0.00            $0.00   21
                   253                    $0.00           $0.00            $0.00            $0.00
                   254                    $0.00           $0.00            $0.00            $0.00
                   255                    $0.00           $0.00            $0.00            $0.00
                   256                    $0.00           $0.00            $0.00            $0.00
                   257                    $0.00           $0.00            $0.00            $0.00
                   258                    $0.00           $0.00            $0.00            $0.00
                   259                    $0.00           $0.00            $0.00            $0.00
                   260                    $0.00           $0.00            $0.00            $0.00
                   261                    $0.00           $0.00            $0.00            $0.00
                   262                    $0.00           $0.00            $0.00            $0.00
                   263                    $0.00           $0.00            $0.00            $0.00
                   264                    $0.00           $0.00            $0.00            $0.00   22
                   265                    $0.00           $0.00            $0.00            $0.00
                   266                    $0.00           $0.00            $0.00            $0.00
                   267                    $0.00           $0.00            $0.00            $0.00
                   268                    $0.00           $0.00            $0.00            $0.00
                   269                    $0.00           $0.00            $0.00            $0.00
                   270                    $0.00           $0.00            $0.00            $0.00
                   271                    $0.00           $0.00            $0.00            $0.00
                   272                    $0.00           $0.00            $0.00            $0.00
                   273                    $0.00           $0.00            $0.00            $0.00
                   274                    $0.00           $0.00            $0.00            $0.00
                   275                    $0.00           $0.00            $0.00            $0.00
                   276                    $0.00           $0.00            $0.00            $0.00   23
                   277                    $0.00           $0.00            $0.00            $0.00
                   278                    $0.00           $0.00            $0.00            $0.00
                   279                    $0.00           $0.00            $0.00            $0.00
                   280                    $0.00           $0.00            $0.00            $0.00
                   281                    $0.00           $0.00            $0.00            $0.00
                   282                    $0.00           $0.00            $0.00            $0.00
                   283                    $0.00           $0.00            $0.00            $0.00
                   284                    $0.00           $0.00            $0.00            $0.00
                   285                    $0.00           $0.00            $0.00            $0.00
                   286                    $0.00           $0.00            $0.00            $0.00
                   287                    $0.00           $0.00            $0.00            $0.00
                   288                    $0.00           $0.00            $0.00            $0.00   24




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                             54 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                  III. Amortization Schedule
                  Month        P&I Payment              Interest       Principal      Balance       Year
                   289                    $0.00           $0.00            $0.00            $0.00
                   290                    $0.00           $0.00            $0.00            $0.00
                   291                    $0.00           $0.00            $0.00            $0.00
                   292                    $0.00           $0.00            $0.00            $0.00
                   293                    $0.00           $0.00            $0.00            $0.00
                   294                    $0.00           $0.00            $0.00            $0.00
                   295                    $0.00           $0.00            $0.00            $0.00
                   296                    $0.00           $0.00            $0.00            $0.00
                   297                    $0.00           $0.00            $0.00            $0.00
                   298                    $0.00           $0.00            $0.00            $0.00
                   299                    $0.00           $0.00            $0.00            $0.00
                   300                    $0.00           $0.00            $0.00            $0.00   25
                   301                    $0.00           $0.00            $0.00            $0.00
                   302                    $0.00           $0.00            $0.00            $0.00
                   303                    $0.00           $0.00            $0.00            $0.00
                   304                    $0.00           $0.00            $0.00            $0.00
                   305                    $0.00           $0.00            $0.00            $0.00
                   306                    $0.00           $0.00            $0.00            $0.00
                   307                    $0.00           $0.00            $0.00            $0.00
                   308                    $0.00           $0.00            $0.00            $0.00
                   309                    $0.00           $0.00            $0.00            $0.00
                   310                    $0.00           $0.00            $0.00            $0.00
                   311                    $0.00           $0.00            $0.00            $0.00
                   312                    $0.00           $0.00            $0.00            $0.00   26
                   313                    $0.00           $0.00            $0.00            $0.00
                   314                    $0.00           $0.00            $0.00            $0.00
                   315                    $0.00           $0.00            $0.00            $0.00
                   316                    $0.00           $0.00            $0.00            $0.00
                   317                    $0.00           $0.00            $0.00            $0.00
                   318                    $0.00           $0.00            $0.00            $0.00
                   319                    $0.00           $0.00            $0.00            $0.00
                   320                    $0.00           $0.00            $0.00            $0.00
                   321                    $0.00           $0.00            $0.00            $0.00
                   322                    $0.00           $0.00            $0.00            $0.00
                   323                    $0.00           $0.00            $0.00            $0.00
                   324                    $0.00           $0.00            $0.00            $0.00   27
                   325                    $0.00           $0.00            $0.00            $0.00
                   326                    $0.00           $0.00            $0.00            $0.00
                   327                    $0.00           $0.00            $0.00            $0.00
                   328                    $0.00           $0.00            $0.00            $0.00
                   329                    $0.00           $0.00            $0.00            $0.00
                   330                    $0.00           $0.00            $0.00            $0.00
                   331                    $0.00           $0.00            $0.00            $0.00
                   332                    $0.00           $0.00            $0.00            $0.00
                   333                    $0.00           $0.00            $0.00            $0.00
                   334                    $0.00           $0.00            $0.00            $0.00
                   335                    $0.00           $0.00            $0.00            $0.00
                   336                    $0.00           $0.00            $0.00            $0.00   28




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                             55 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                  III. Amortization Schedule
                  Month        P&I Payment              Interest       Principal      Balance       Year
                   337                    $0.00           $0.00            $0.00            $0.00
                   338                    $0.00           $0.00            $0.00            $0.00
                   339                    $0.00           $0.00            $0.00            $0.00
                   340                    $0.00           $0.00            $0.00            $0.00
                   341                    $0.00           $0.00            $0.00            $0.00
                   342                    $0.00           $0.00            $0.00            $0.00
                   343                    $0.00           $0.00            $0.00            $0.00
                   344                    $0.00           $0.00            $0.00            $0.00
                   345                    $0.00           $0.00            $0.00            $0.00
                   346                    $0.00           $0.00            $0.00            $0.00
                   347                    $0.00           $0.00            $0.00            $0.00
                   348                    $0.00           $0.00            $0.00            $0.00   29
                   349                    $0.00           $0.00            $0.00            $0.00
                   350                    $0.00           $0.00            $0.00            $0.00
                   351                    $0.00           $0.00            $0.00            $0.00
                   352                    $0.00           $0.00            $0.00            $0.00
                   353                    $0.00           $0.00            $0.00            $0.00
                   354                    $0.00           $0.00            $0.00            $0.00
                   355                    $0.00           $0.00            $0.00            $0.00
                   356                    $0.00           $0.00            $0.00            $0.00
                   357                    $0.00           $0.00            $0.00            $0.00
                   358                    $0.00           $0.00            $0.00            $0.00
                   359                    $0.00           $0.00            $0.00            $0.00
                   360                    $0.00           $0.00            $0.00            $0.00   30
                   361                    $0.00           $0.00            $0.00            $0.00
                   362                    $0.00           $0.00            $0.00            $0.00
                   363                    $0.00           $0.00            $0.00            $0.00
                   364                    $0.00           $0.00            $0.00            $0.00
                   365                    $0.00           $0.00            $0.00            $0.00
                   366                    $0.00           $0.00            $0.00            $0.00
                   367                    $0.00           $0.00            $0.00            $0.00
                   368                    $0.00           $0.00            $0.00            $0.00
                   369                    $0.00           $0.00            $0.00            $0.00
                   370                    $0.00           $0.00            $0.00            $0.00
                   371                    $0.00           $0.00            $0.00            $0.00
                   372                    $0.00           $0.00            $0.00            $0.00   31
                   373                    $0.00           $0.00            $0.00            $0.00
                   374                    $0.00           $0.00            $0.00            $0.00
                   375                    $0.00           $0.00            $0.00            $0.00
                   376                    $0.00           $0.00            $0.00            $0.00
                   377                    $0.00           $0.00            $0.00            $0.00
                   378                    $0.00           $0.00            $0.00            $0.00
                   379                    $0.00           $0.00            $0.00            $0.00
                   380                    $0.00           $0.00            $0.00            $0.00
                   381                    $0.00           $0.00            $0.00            $0.00
                   382                    $0.00           $0.00            $0.00            $0.00
                   383                    $0.00           $0.00            $0.00            $0.00
                   384                    $0.00           $0.00            $0.00            $0.00   32




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                             56 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                  III. Amortization Schedule
                  Month        P&I Payment              Interest       Principal      Balance       Year
                   385                    $0.00           $0.00            $0.00            $0.00
                   386                    $0.00           $0.00            $0.00            $0.00
                   387                    $0.00           $0.00            $0.00            $0.00
                   388                    $0.00           $0.00            $0.00            $0.00
                   389                    $0.00           $0.00            $0.00            $0.00
                   390                    $0.00           $0.00            $0.00            $0.00
                   391                    $0.00           $0.00            $0.00            $0.00
                   392                    $0.00           $0.00            $0.00            $0.00
                   393                    $0.00           $0.00            $0.00            $0.00
                   394                    $0.00           $0.00            $0.00            $0.00
                   395                    $0.00           $0.00            $0.00            $0.00
                   396                    $0.00           $0.00            $0.00            $0.00   33
                   397                    $0.00           $0.00            $0.00            $0.00
                   398                    $0.00           $0.00            $0.00            $0.00
                   399                    $0.00           $0.00            $0.00            $0.00
                   400                    $0.00           $0.00            $0.00            $0.00
                   401                    $0.00           $0.00            $0.00            $0.00
                   402                    $0.00           $0.00            $0.00            $0.00
                   403                    $0.00           $0.00            $0.00            $0.00
                   404                    $0.00           $0.00            $0.00            $0.00
                   405                    $0.00           $0.00            $0.00            $0.00
                   406                    $0.00           $0.00            $0.00            $0.00
                   407                    $0.00           $0.00            $0.00            $0.00
                   408                    $0.00           $0.00            $0.00            $0.00   34
                   409                    $0.00           $0.00            $0.00            $0.00
                   410                    $0.00           $0.00            $0.00            $0.00
                   411                    $0.00           $0.00            $0.00            $0.00
                   412                    $0.00           $0.00            $0.00            $0.00
                   413                    $0.00           $0.00            $0.00            $0.00
                   414                    $0.00           $0.00            $0.00            $0.00
                   415                    $0.00           $0.00            $0.00            $0.00
                   416                    $0.00           $0.00            $0.00            $0.00
                   417                    $0.00           $0.00            $0.00            $0.00
                   418                    $0.00           $0.00            $0.00            $0.00
                   419                    $0.00           $0.00            $0.00            $0.00
                   420                    $0.00           $0.00            $0.00            $0.00   35
                   421                    $0.00           $0.00            $0.00            $0.00
                   422                    $0.00           $0.00            $0.00            $0.00
                   423                    $0.00           $0.00            $0.00            $0.00
                   424                    $0.00           $0.00            $0.00            $0.00
                   425                    $0.00           $0.00            $0.00            $0.00
                   426                    $0.00           $0.00            $0.00            $0.00
                   427                    $0.00           $0.00            $0.00            $0.00
                   428                    $0.00           $0.00            $0.00            $0.00
                   429                    $0.00           $0.00            $0.00            $0.00
                   430                    $0.00           $0.00            $0.00            $0.00
                   431                    $0.00           $0.00            $0.00            $0.00
                   432                    $0.00           $0.00            $0.00            $0.00   36




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                             57 of 128
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                  III. Amortization Schedule
                  Month        P&I Payment              Interest       Principal      Balance       Year
                   433                    $0.00           $0.00            $0.00            $0.00
                   434                    $0.00           $0.00            $0.00            $0.00
                   435                    $0.00           $0.00            $0.00            $0.00
                   436                    $0.00           $0.00            $0.00            $0.00
                   437                    $0.00           $0.00            $0.00            $0.00
                   438                    $0.00           $0.00            $0.00            $0.00
                   439                    $0.00           $0.00            $0.00            $0.00
                   440                    $0.00           $0.00            $0.00            $0.00
                   441                    $0.00           $0.00            $0.00            $0.00
                   442                    $0.00           $0.00            $0.00            $0.00
                   443                    $0.00           $0.00            $0.00            $0.00
                   444                    $0.00           $0.00            $0.00            $0.00   37
                   445                    $0.00           $0.00            $0.00            $0.00
                   446                    $0.00           $0.00            $0.00            $0.00
                   447                    $0.00           $0.00            $0.00            $0.00
                   448                    $0.00           $0.00            $0.00            $0.00
                   449                    $0.00           $0.00            $0.00            $0.00
                   450                    $0.00           $0.00            $0.00            $0.00
                   451                    $0.00           $0.00            $0.00            $0.00
                   452                    $0.00           $0.00            $0.00            $0.00
                   453                    $0.00           $0.00            $0.00            $0.00
                   454                    $0.00           $0.00            $0.00            $0.00
                   455                    $0.00           $0.00            $0.00            $0.00
                   456                    $0.00           $0.00            $0.00            $0.00   38
                   457                    $0.00           $0.00            $0.00            $0.00
                   458                    $0.00           $0.00            $0.00            $0.00
                   459                    $0.00           $0.00            $0.00            $0.00
                   460                    $0.00           $0.00            $0.00            $0.00
                   461                    $0.00           $0.00            $0.00            $0.00
                   462                    $0.00           $0.00            $0.00            $0.00
                   463                    $0.00           $0.00            $0.00            $0.00
                   464                    $0.00           $0.00            $0.00            $0.00
                   465                    $0.00           $0.00            $0.00            $0.00
                   466                    $0.00           $0.00            $0.00            $0.00
                   467                    $0.00           $0.00            $0.00            $0.00
                   468                    $0.00           $0.00            $0.00            $0.00   39
                   469                    $0.00           $0.00            $0.00            $0.00
                   470                    $0.00           $0.00            $0.00            $0.00
                   471                    $0.00           $0.00            $0.00            $0.00
                   472                    $0.00           $0.00            $0.00            $0.00
                   473                    $0.00           $0.00            $0.00            $0.00
                   474                    $0.00           $0.00            $0.00            $0.00
                   475                    $0.00           $0.00            $0.00            $0.00
                   476                    $0.00           $0.00            $0.00            $0.00
                   477                    $0.00           $0.00            $0.00            $0.00
                   478                    $0.00           $0.00            $0.00            $0.00
                   479                    $0.00           $0.00            $0.00            $0.00
                   480                    $0.00           $0.00            $0.00            $0.00   40




Georgia Department of Community Affairs               Part III B-USDA 538 Loan                             58 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
            PART III C - HUD INSURED LOAN - 2011-049 Stratford Court, Winder, Barrow County

                                                       I. Data Input

Loan Amount:                                                                    NOTE: If this section is completed,
                                                                                then Applicant must also complete
Interest Rate:                    Investor Rate                                 the "Additional HUD Requirements"
                                  Servicing Fee                                 section in the Threshold Criteria tab.
                                  GNMA Gty Fee
                                  Effective Rate                0.000%

HUD Mortgage Insurance Premium                                                  per annum

Loan Term                                                                       years

Amortization Period                                                             years

Annual Debt Service at Effective Rate                           #DIV/0!         (Excluding MIP)

Monthly Debt Service at Effective Rate                          #DIV/0!         (Excluding MIP)




                              II. HUD Mortgage Insurance Premium / Debt Service


  Year              MIP             Annual Debt Svc              Year                   MIP         Annual Debt Svc
    1              $0.00                  $0.00                    21                   $0.00             $0.00
    2              $0.00                  $0.00                    22                   $0.00             $0.00
    3              $0.00                  $0.00                    23                   $0.00             $0.00
    4              $0.00                  $0.00                    24                   $0.00             $0.00
    5              $0.00                  $0.00                    25                   $0.00             $0.00
    6              $0.00                  $0.00                    26                   $0.00             $0.00
    7              $0.00                  $0.00                    27                   $0.00             $0.00
    8              $0.00                  $0.00                    28                   $0.00             $0.00
    9              $0.00                  $0.00                    29                   $0.00             $0.00
   10              $0.00                  $0.00                    30                   $0.00             $0.00
   11              $0.00                  $0.00                    31                   $0.00             $0.00
   12              $0.00                  $0.00                    32                   $0.00             $0.00
   13              $0.00                  $0.00                    33                   $0.00             $0.00
   14              $0.00                  $0.00                    34                   $0.00             $0.00
   15              $0.00                  $0.00                    35                   $0.00             $0.00
   16              $0.00                  $0.00                    36                   $0.00             $0.00
   17              $0.00                  $0.00                    37                   $0.00             $0.00
   18              $0.00                  $0.00                    38                   $0.00             $0.00
   19              $0.00                  $0.00                    39                   $0.00             $0.00
   20              $0.00                  $0.00                    40                   $0.00             $0.00




Georgia Department of Community Affairs           Part III C-HUD Insured Loan                              page 59 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
 Month        P&I Payment                   Interest                Principal          Balance       Year
Close                                                                                        $0.00
       1                  $0.00                     $0.00                     $0.00          $0.00
       2                  $0.00                     $0.00                     $0.00          $0.00
       3                  $0.00                     $0.00                     $0.00          $0.00
       4                  $0.00                     $0.00                     $0.00          $0.00
       5                  $0.00                     $0.00                     $0.00          $0.00
       6                  $0.00                     $0.00                     $0.00          $0.00
       7                  $0.00                     $0.00                     $0.00          $0.00
       8                  $0.00                     $0.00                     $0.00          $0.00
       9                  $0.00                     $0.00                     $0.00          $0.00
      10                  $0.00                     $0.00                     $0.00          $0.00
      11                  $0.00                     $0.00                     $0.00          $0.00
      12                  $0.00                     $0.00                     $0.00          $0.00    1
      13                  $0.00                     $0.00                     $0.00          $0.00
      14                  $0.00                     $0.00                     $0.00          $0.00
      15                  $0.00                     $0.00                     $0.00          $0.00
      16                  $0.00                     $0.00                     $0.00          $0.00
      17                  $0.00                     $0.00                     $0.00          $0.00
      18                  $0.00                     $0.00                     $0.00          $0.00
      19                  $0.00                     $0.00                     $0.00          $0.00
      20                  $0.00                     $0.00                     $0.00          $0.00
      21                  $0.00                     $0.00                     $0.00          $0.00
      22                  $0.00                     $0.00                     $0.00          $0.00
      23                  $0.00                     $0.00                     $0.00          $0.00
      24                  $0.00                     $0.00                     $0.00          $0.00    2
      25                  $0.00                     $0.00                     $0.00          $0.00
      26                  $0.00                     $0.00                     $0.00          $0.00
      27                  $0.00                     $0.00                     $0.00          $0.00
      28                  $0.00                     $0.00                     $0.00          $0.00
      29                  $0.00                     $0.00                     $0.00          $0.00
      30                  $0.00                     $0.00                     $0.00          $0.00
      31                  $0.00                     $0.00                     $0.00          $0.00
      32                  $0.00                     $0.00                     $0.00          $0.00
      33                  $0.00                     $0.00                     $0.00          $0.00
      34                  $0.00                     $0.00                     $0.00          $0.00
      35                  $0.00                     $0.00                     $0.00          $0.00
      36                  $0.00                     $0.00                     $0.00          $0.00    3
      37                  $0.00                     $0.00                     $0.00          $0.00
      38                  $0.00                     $0.00                     $0.00          $0.00
      39                  $0.00                     $0.00                     $0.00          $0.00
      40                  $0.00                     $0.00                     $0.00          $0.00
      41                  $0.00                     $0.00                     $0.00          $0.00
      42                  $0.00                     $0.00                     $0.00          $0.00
      43                  $0.00                     $0.00                     $0.00          $0.00
      44                  $0.00                     $0.00                     $0.00          $0.00
      45                  $0.00                     $0.00                     $0.00          $0.00
      46                  $0.00                     $0.00                     $0.00          $0.00
      47                  $0.00                     $0.00                     $0.00          $0.00
      48                  $0.00                     $0.00                     $0.00          $0.00    4




Georgia Department of Community Affairs                Part III C-HUD Insured Loan                   page 60 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
 Month        P&I Payment                   Interest                Principal          Balance       Year
      49                  $0.00                     $0.00                     $0.00          $0.00
      50                  $0.00                     $0.00                     $0.00          $0.00
      51                  $0.00                     $0.00                     $0.00          $0.00
      52                  $0.00                     $0.00                     $0.00          $0.00
      53                  $0.00                     $0.00                     $0.00          $0.00
      54                  $0.00                     $0.00                     $0.00          $0.00
      55                  $0.00                     $0.00                     $0.00          $0.00
      56                  $0.00                     $0.00                     $0.00          $0.00
      57                  $0.00                     $0.00                     $0.00          $0.00
      58                  $0.00                     $0.00                     $0.00          $0.00
      59                  $0.00                     $0.00                     $0.00          $0.00
      60                  $0.00                     $0.00                     $0.00          $0.00
      61                  $0.00                     $0.00                     $0.00          $0.00
      62                  $0.00                     $0.00                     $0.00          $0.00    5
      63                  $0.00                     $0.00                     $0.00          $0.00
      64                  $0.00                     $0.00                     $0.00          $0.00
      65                  $0.00                     $0.00                     $0.00          $0.00
      66                  $0.00                     $0.00                     $0.00          $0.00
      67                  $0.00                     $0.00                     $0.00          $0.00
      68                  $0.00                     $0.00                     $0.00          $0.00
      69                  $0.00                     $0.00                     $0.00          $0.00
      70                  $0.00                     $0.00                     $0.00          $0.00
      71                  $0.00                     $0.00                     $0.00          $0.00
      72                  $0.00                     $0.00                     $0.00          $0.00
      73                  $0.00                     $0.00                     $0.00          $0.00
      74                  $0.00                     $0.00                     $0.00          $0.00    6
      75                  $0.00                     $0.00                     $0.00          $0.00
      76                  $0.00                     $0.00                     $0.00          $0.00
      77                  $0.00                     $0.00                     $0.00          $0.00
      78                  $0.00                     $0.00                     $0.00          $0.00
      79                  $0.00                     $0.00                     $0.00          $0.00
      80                  $0.00                     $0.00                     $0.00          $0.00
      81                  $0.00                     $0.00                     $0.00          $0.00
      82                  $0.00                     $0.00                     $0.00          $0.00
      83                  $0.00                     $0.00                     $0.00          $0.00
      84                  $0.00                     $0.00                     $0.00          $0.00    7
      85                  $0.00                     $0.00                     $0.00          $0.00
      86                  $0.00                     $0.00                     $0.00          $0.00
      87                  $0.00                     $0.00                     $0.00          $0.00
      88                  $0.00                     $0.00                     $0.00          $0.00
      89                  $0.00                     $0.00                     $0.00          $0.00
      90                  $0.00                     $0.00                     $0.00          $0.00
      91                  $0.00                     $0.00                     $0.00          $0.00
      92                  $0.00                     $0.00                     $0.00          $0.00
      93                  $0.00                     $0.00                     $0.00          $0.00
      94                  $0.00                     $0.00                     $0.00          $0.00
      95                  $0.00                     $0.00                     $0.00          $0.00
      96                  $0.00                     $0.00                     $0.00          $0.00    8




Georgia Department of Community Affairs                Part III C-HUD Insured Loan                   page 61 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
 Month        P&I Payment                   Interest                Principal          Balance       Year
      97                  $0.00                     $0.00                     $0.00          $0.00
      98                  $0.00                     $0.00                     $0.00          $0.00
      99                  $0.00                     $0.00                     $0.00          $0.00
     100                  $0.00                     $0.00                     $0.00          $0.00
     101                  $0.00                     $0.00                     $0.00          $0.00
     102                  $0.00                     $0.00                     $0.00          $0.00
     103                  $0.00                     $0.00                     $0.00          $0.00
     104                  $0.00                     $0.00                     $0.00          $0.00
     105                  $0.00                     $0.00                     $0.00          $0.00
     106                  $0.00                     $0.00                     $0.00          $0.00
     107                  $0.00                     $0.00                     $0.00          $0.00
     108                  $0.00                     $0.00                     $0.00          $0.00    9
     109                  $0.00                     $0.00                     $0.00          $0.00
     110                  $0.00                     $0.00                     $0.00          $0.00
     111                  $0.00                     $0.00                     $0.00          $0.00
     112                  $0.00                     $0.00                     $0.00          $0.00
     113                  $0.00                     $0.00                     $0.00          $0.00
     114                  $0.00                     $0.00                     $0.00          $0.00
     115                  $0.00                     $0.00                     $0.00          $0.00
     116                  $0.00                     $0.00                     $0.00          $0.00
     117                  $0.00                     $0.00                     $0.00          $0.00
     118                  $0.00                     $0.00                     $0.00          $0.00
     119                  $0.00                     $0.00                     $0.00          $0.00
     120                  $0.00                     $0.00                     $0.00          $0.00   10
     121                  $0.00                     $0.00                     $0.00          $0.00
     122                  $0.00                     $0.00                     $0.00          $0.00
     123                  $0.00                     $0.00                     $0.00          $0.00
     124                  $0.00                     $0.00                     $0.00          $0.00
     125                  $0.00                     $0.00                     $0.00          $0.00
     126                  $0.00                     $0.00                     $0.00          $0.00
     127                  $0.00                     $0.00                     $0.00          $0.00
     128                  $0.00                     $0.00                     $0.00          $0.00
     129                  $0.00                     $0.00                     $0.00          $0.00
     130                  $0.00                     $0.00                     $0.00          $0.00
     131                  $0.00                     $0.00                     $0.00          $0.00
     132                  $0.00                     $0.00                     $0.00          $0.00   11
     133                  $0.00                     $0.00                     $0.00          $0.00
     134                  $0.00                     $0.00                     $0.00          $0.00
     135                  $0.00                     $0.00                     $0.00          $0.00
     136                  $0.00                     $0.00                     $0.00          $0.00
     137                  $0.00                     $0.00                     $0.00          $0.00
     138                  $0.00                     $0.00                     $0.00          $0.00
     139                  $0.00                     $0.00                     $0.00          $0.00
     140                  $0.00                     $0.00                     $0.00          $0.00
     141                  $0.00                     $0.00                     $0.00          $0.00
     142                  $0.00                     $0.00                     $0.00          $0.00
     143                  $0.00                     $0.00                     $0.00          $0.00
     144                  $0.00                     $0.00                     $0.00          $0.00   12




Georgia Department of Community Affairs                Part III C-HUD Insured Loan                   page 62 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
 Month        P&I Payment                   Interest                Principal          Balance       Year
     145                  $0.00                     $0.00                     $0.00          $0.00
     146                  $0.00                     $0.00                     $0.00          $0.00
     147                  $0.00                     $0.00                     $0.00          $0.00
     148                  $0.00                     $0.00                     $0.00          $0.00
     149                  $0.00                     $0.00                     $0.00          $0.00
     150                  $0.00                     $0.00                     $0.00          $0.00
     151                  $0.00                     $0.00                     $0.00          $0.00
     152                  $0.00                     $0.00                     $0.00          $0.00
     153                  $0.00                     $0.00                     $0.00          $0.00
     154                  $0.00                     $0.00                     $0.00          $0.00
     155                  $0.00                     $0.00                     $0.00          $0.00
     156                  $0.00                     $0.00                     $0.00          $0.00   13
     157                  $0.00                     $0.00                     $0.00          $0.00
     158                  $0.00                     $0.00                     $0.00          $0.00
     159                  $0.00                     $0.00                     $0.00          $0.00
     160                  $0.00                     $0.00                     $0.00          $0.00
     161                  $0.00                     $0.00                     $0.00          $0.00
     162                  $0.00                     $0.00                     $0.00          $0.00
     163                  $0.00                     $0.00                     $0.00          $0.00
     164                  $0.00                     $0.00                     $0.00          $0.00
     165                  $0.00                     $0.00                     $0.00          $0.00
     166                  $0.00                     $0.00                     $0.00          $0.00
     167                  $0.00                     $0.00                     $0.00          $0.00
     168                  $0.00                     $0.00                     $0.00          $0.00   14
     169                  $0.00                     $0.00                     $0.00          $0.00
     170                  $0.00                     $0.00                     $0.00          $0.00
     171                  $0.00                     $0.00                     $0.00          $0.00
     172                  $0.00                     $0.00                     $0.00          $0.00
     173                  $0.00                     $0.00                     $0.00          $0.00
     174                  $0.00                     $0.00                     $0.00          $0.00
     175                  $0.00                     $0.00                     $0.00          $0.00
     176                  $0.00                     $0.00                     $0.00          $0.00
     177                  $0.00                     $0.00                     $0.00          $0.00
     178                  $0.00                     $0.00                     $0.00          $0.00
     179                  $0.00                     $0.00                     $0.00          $0.00
     180                  $0.00                     $0.00                     $0.00          $0.00   15
     181                  $0.00                     $0.00                     $0.00          $0.00
     182                  $0.00                     $0.00                     $0.00          $0.00
     183                  $0.00                     $0.00                     $0.00          $0.00
     184                  $0.00                     $0.00                     $0.00          $0.00
     185                  $0.00                     $0.00                     $0.00          $0.00
     186                  $0.00                     $0.00                     $0.00          $0.00
     187                  $0.00                     $0.00                     $0.00          $0.00
     188                  $0.00                     $0.00                     $0.00          $0.00
     189                  $0.00                     $0.00                     $0.00          $0.00
     190                  $0.00                     $0.00                     $0.00          $0.00
     191                  $0.00                     $0.00                     $0.00          $0.00
     192                  $0.00                     $0.00                     $0.00          $0.00   16




Georgia Department of Community Affairs                Part III C-HUD Insured Loan                   page 63 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
 Month        P&I Payment                   Interest                Principal          Balance       Year
     193                  $0.00                     $0.00                     $0.00          $0.00
     194                  $0.00                     $0.00                     $0.00          $0.00
     195                  $0.00                     $0.00                     $0.00          $0.00
     196                  $0.00                     $0.00                     $0.00          $0.00
     197                  $0.00                     $0.00                     $0.00          $0.00
     198                  $0.00                     $0.00                     $0.00          $0.00
     199                  $0.00                     $0.00                     $0.00          $0.00
     200                  $0.00                     $0.00                     $0.00          $0.00
     201                  $0.00                     $0.00                     $0.00          $0.00
     202                  $0.00                     $0.00                     $0.00          $0.00
     203                  $0.00                     $0.00                     $0.00          $0.00
     204                  $0.00                     $0.00                     $0.00          $0.00   17
     205                  $0.00                     $0.00                     $0.00          $0.00
     206                  $0.00                     $0.00                     $0.00          $0.00
     207                  $0.00                     $0.00                     $0.00          $0.00
     208                  $0.00                     $0.00                     $0.00          $0.00
     209                  $0.00                     $0.00                     $0.00          $0.00
     210                  $0.00                     $0.00                     $0.00          $0.00
     211                  $0.00                     $0.00                     $0.00          $0.00
     212                  $0.00                     $0.00                     $0.00          $0.00
     213                  $0.00                     $0.00                     $0.00          $0.00
     214                  $0.00                     $0.00                     $0.00          $0.00
     215                  $0.00                     $0.00                     $0.00          $0.00
     216                  $0.00                     $0.00                     $0.00          $0.00   18
     217                  $0.00                     $0.00                     $0.00          $0.00
     218                  $0.00                     $0.00                     $0.00          $0.00
     219                  $0.00                     $0.00                     $0.00          $0.00
     220                  $0.00                     $0.00                     $0.00          $0.00
     221                  $0.00                     $0.00                     $0.00          $0.00
     222                  $0.00                     $0.00                     $0.00          $0.00
     223                  $0.00                     $0.00                     $0.00          $0.00
     224                  $0.00                     $0.00                     $0.00          $0.00
     225                  $0.00                     $0.00                     $0.00          $0.00
     226                  $0.00                     $0.00                     $0.00          $0.00
     227                  $0.00                     $0.00                     $0.00          $0.00
     228                  $0.00                     $0.00                     $0.00          $0.00   19
     229                  $0.00                     $0.00                     $0.00          $0.00
     230                  $0.00                     $0.00                     $0.00          $0.00
     231                  $0.00                     $0.00                     $0.00          $0.00
     232                  $0.00                     $0.00                     $0.00          $0.00
     233                  $0.00                     $0.00                     $0.00          $0.00
     234                  $0.00                     $0.00                     $0.00          $0.00
     235                  $0.00                     $0.00                     $0.00          $0.00
     236                  $0.00                     $0.00                     $0.00          $0.00
     237                  $0.00                     $0.00                     $0.00          $0.00
     238                  $0.00                     $0.00                     $0.00          $0.00
     239                  $0.00                     $0.00                     $0.00          $0.00
     240                  $0.00                     $0.00                     $0.00          $0.00   20




Georgia Department of Community Affairs                Part III C-HUD Insured Loan                   page 64 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
 Month        P&I Payment                   Interest                Principal          Balance       Year
     241                  $0.00                     $0.00                     $0.00          $0.00
     242                  $0.00                     $0.00                     $0.00          $0.00
     243                  $0.00                     $0.00                     $0.00          $0.00
     244                  $0.00                     $0.00                     $0.00          $0.00
     245                  $0.00                     $0.00                     $0.00          $0.00
     246                  $0.00                     $0.00                     $0.00          $0.00
     247                  $0.00                     $0.00                     $0.00          $0.00
     248                  $0.00                     $0.00                     $0.00          $0.00
     249                  $0.00                     $0.00                     $0.00          $0.00
     250                  $0.00                     $0.00                     $0.00          $0.00
     251                  $0.00                     $0.00                     $0.00          $0.00
     252                  $0.00                     $0.00                     $0.00          $0.00   21
     253                  $0.00                     $0.00                     $0.00          $0.00
     254                  $0.00                     $0.00                     $0.00          $0.00
     255                  $0.00                     $0.00                     $0.00          $0.00
     256                  $0.00                     $0.00                     $0.00          $0.00
     257                  $0.00                     $0.00                     $0.00          $0.00
     258                  $0.00                     $0.00                     $0.00          $0.00
     259                  $0.00                     $0.00                     $0.00          $0.00
     260                  $0.00                     $0.00                     $0.00          $0.00
     261                  $0.00                     $0.00                     $0.00          $0.00
     262                  $0.00                     $0.00                     $0.00          $0.00
     263                  $0.00                     $0.00                     $0.00          $0.00
     264                  $0.00                     $0.00                     $0.00          $0.00   22
     265                  $0.00                     $0.00                     $0.00          $0.00
     266                  $0.00                     $0.00                     $0.00          $0.00
     267                  $0.00                     $0.00                     $0.00          $0.00
     268                  $0.00                     $0.00                     $0.00          $0.00
     269                  $0.00                     $0.00                     $0.00          $0.00
     270                  $0.00                     $0.00                     $0.00          $0.00
     271                  $0.00                     $0.00                     $0.00          $0.00
     272                  $0.00                     $0.00                     $0.00          $0.00
     273                  $0.00                     $0.00                     $0.00          $0.00
     274                  $0.00                     $0.00                     $0.00          $0.00
     275                  $0.00                     $0.00                     $0.00          $0.00
     276                  $0.00                     $0.00                     $0.00          $0.00   23
     277                  $0.00                     $0.00                     $0.00          $0.00
     278                  $0.00                     $0.00                     $0.00          $0.00
     279                  $0.00                     $0.00                     $0.00          $0.00
     280                  $0.00                     $0.00                     $0.00          $0.00
     281                  $0.00                     $0.00                     $0.00          $0.00
     282                  $0.00                     $0.00                     $0.00          $0.00
     283                  $0.00                     $0.00                     $0.00          $0.00
     284                  $0.00                     $0.00                     $0.00          $0.00
     285                  $0.00                     $0.00                     $0.00          $0.00
     286                  $0.00                     $0.00                     $0.00          $0.00
     287                  $0.00                     $0.00                     $0.00          $0.00
     288                  $0.00                     $0.00                     $0.00          $0.00   24




Georgia Department of Community Affairs                Part III C-HUD Insured Loan                   page 65 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
 Month        P&I Payment                   Interest                Principal          Balance       Year
     289                  $0.00                     $0.00                     $0.00          $0.00
     290                  $0.00                     $0.00                     $0.00          $0.00
     291                  $0.00                     $0.00                     $0.00          $0.00
     292                  $0.00                     $0.00                     $0.00          $0.00
     293                  $0.00                     $0.00                     $0.00          $0.00
     294                  $0.00                     $0.00                     $0.00          $0.00
     295                  $0.00                     $0.00                     $0.00          $0.00
     296                  $0.00                     $0.00                     $0.00          $0.00
     297                  $0.00                     $0.00                     $0.00          $0.00
     298                  $0.00                     $0.00                     $0.00          $0.00
     299                  $0.00                     $0.00                     $0.00          $0.00
     300                  $0.00                     $0.00                     $0.00          $0.00   25
     301                  $0.00                     $0.00                     $0.00          $0.00
     302                  $0.00                     $0.00                     $0.00          $0.00
     303                  $0.00                     $0.00                     $0.00          $0.00
     304                  $0.00                     $0.00                     $0.00          $0.00
     305                  $0.00                     $0.00                     $0.00          $0.00
     306                  $0.00                     $0.00                     $0.00          $0.00
     307                  $0.00                     $0.00                     $0.00          $0.00
     308                  $0.00                     $0.00                     $0.00          $0.00
     309                  $0.00                     $0.00                     $0.00          $0.00
     310                  $0.00                     $0.00                     $0.00          $0.00
     311                  $0.00                     $0.00                     $0.00          $0.00
     312                  $0.00                     $0.00                     $0.00          $0.00   26
     313                  $0.00                     $0.00                     $0.00          $0.00
     314                  $0.00                     $0.00                     $0.00          $0.00
     315                  $0.00                     $0.00                     $0.00          $0.00
     316                  $0.00                     $0.00                     $0.00          $0.00
     317                  $0.00                     $0.00                     $0.00          $0.00
     318                  $0.00                     $0.00                     $0.00          $0.00
     319                  $0.00                     $0.00                     $0.00          $0.00
     320                  $0.00                     $0.00                     $0.00          $0.00
     321                  $0.00                     $0.00                     $0.00          $0.00
     322                  $0.00                     $0.00                     $0.00          $0.00
     323                  $0.00                     $0.00                     $0.00          $0.00
     324                  $0.00                     $0.00                     $0.00          $0.00   27
     325                  $0.00                     $0.00                     $0.00          $0.00
     326                  $0.00                     $0.00                     $0.00          $0.00
     327                  $0.00                     $0.00                     $0.00          $0.00
     328                  $0.00                     $0.00                     $0.00          $0.00
     329                  $0.00                     $0.00                     $0.00          $0.00
     330                  $0.00                     $0.00                     $0.00          $0.00
     331                  $0.00                     $0.00                     $0.00          $0.00
     332                  $0.00                     $0.00                     $0.00          $0.00
     333                  $0.00                     $0.00                     $0.00          $0.00
     334                  $0.00                     $0.00                     $0.00          $0.00
     335                  $0.00                     $0.00                     $0.00          $0.00
     336                  $0.00                     $0.00                     $0.00          $0.00   28




Georgia Department of Community Affairs                Part III C-HUD Insured Loan                   page 66 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
 Month        P&I Payment                   Interest                Principal          Balance       Year
     337                  $0.00                     $0.00                     $0.00          $0.00
     338                  $0.00                     $0.00                     $0.00          $0.00
     339                  $0.00                     $0.00                     $0.00          $0.00
     340                  $0.00                     $0.00                     $0.00          $0.00
     341                  $0.00                     $0.00                     $0.00          $0.00
     342                  $0.00                     $0.00                     $0.00          $0.00
     343                  $0.00                     $0.00                     $0.00          $0.00
     344                  $0.00                     $0.00                     $0.00          $0.00
     345                  $0.00                     $0.00                     $0.00          $0.00
     346                  $0.00                     $0.00                     $0.00          $0.00
     347                  $0.00                     $0.00                     $0.00          $0.00
     348                  $0.00                     $0.00                     $0.00          $0.00   29
     349                  $0.00                     $0.00                     $0.00          $0.00
     350                  $0.00                     $0.00                     $0.00          $0.00
     351                  $0.00                     $0.00                     $0.00          $0.00
     352                  $0.00                     $0.00                     $0.00          $0.00
     353                  $0.00                     $0.00                     $0.00          $0.00
     354                  $0.00                     $0.00                     $0.00          $0.00
     355                  $0.00                     $0.00                     $0.00          $0.00
     356                  $0.00                     $0.00                     $0.00          $0.00
     357                  $0.00                     $0.00                     $0.00          $0.00
     358                  $0.00                     $0.00                     $0.00          $0.00
     359                  $0.00                     $0.00                     $0.00          $0.00
     360                  $0.00                     $0.00                     $0.00          $0.00   30
     361                  $0.00                     $0.00                     $0.00          $0.00
     362                  $0.00                     $0.00                     $0.00          $0.00
     363                  $0.00                     $0.00                     $0.00          $0.00
     364                  $0.00                     $0.00                     $0.00          $0.00
     365                  $0.00                     $0.00                     $0.00          $0.00
     366                  $0.00                     $0.00                     $0.00          $0.00
     367                  $0.00                     $0.00                     $0.00          $0.00
     368                  $0.00                     $0.00                     $0.00          $0.00
     369                  $0.00                     $0.00                     $0.00          $0.00
     370                  $0.00                     $0.00                     $0.00          $0.00
     371                  $0.00                     $0.00                     $0.00          $0.00
     372                  $0.00                     $0.00                     $0.00          $0.00   31
     373                  $0.00                     $0.00                     $0.00          $0.00
     374                  $0.00                     $0.00                     $0.00          $0.00
     375                  $0.00                     $0.00                     $0.00          $0.00
     376                  $0.00                     $0.00                     $0.00          $0.00
     377                  $0.00                     $0.00                     $0.00          $0.00
     378                  $0.00                     $0.00                     $0.00          $0.00
     379                  $0.00                     $0.00                     $0.00          $0.00
     380                  $0.00                     $0.00                     $0.00          $0.00
     381                  $0.00                     $0.00                     $0.00          $0.00
     382                  $0.00                     $0.00                     $0.00          $0.00
     383                  $0.00                     $0.00                     $0.00          $0.00
     384                  $0.00                     $0.00                     $0.00          $0.00   32




Georgia Department of Community Affairs                Part III C-HUD Insured Loan                   page 67 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
 Month        P&I Payment                   Interest                Principal          Balance       Year
     385                  $0.00                     $0.00                     $0.00          $0.00
     386                  $0.00                     $0.00                     $0.00          $0.00
     387                  $0.00                     $0.00                     $0.00          $0.00
     388                  $0.00                     $0.00                     $0.00          $0.00
     389                  $0.00                     $0.00                     $0.00          $0.00
     390                  $0.00                     $0.00                     $0.00          $0.00
     391                  $0.00                     $0.00                     $0.00          $0.00
     392                  $0.00                     $0.00                     $0.00          $0.00
     393                  $0.00                     $0.00                     $0.00          $0.00
     394                  $0.00                     $0.00                     $0.00          $0.00
     395                  $0.00                     $0.00                     $0.00          $0.00
     396                  $0.00                     $0.00                     $0.00          $0.00   33
     397                  $0.00                     $0.00                     $0.00          $0.00
     398                  $0.00                     $0.00                     $0.00          $0.00
     399                  $0.00                     $0.00                     $0.00          $0.00
     400                  $0.00                     $0.00                     $0.00          $0.00
     401                  $0.00                     $0.00                     $0.00          $0.00
     402                  $0.00                     $0.00                     $0.00          $0.00
     403                  $0.00                     $0.00                     $0.00          $0.00
     404                  $0.00                     $0.00                     $0.00          $0.00
     405                  $0.00                     $0.00                     $0.00          $0.00
     406                  $0.00                     $0.00                     $0.00          $0.00
     407                  $0.00                     $0.00                     $0.00          $0.00
     408                  $0.00                     $0.00                     $0.00          $0.00   34
     409                  $0.00                     $0.00                     $0.00          $0.00
     410                  $0.00                     $0.00                     $0.00          $0.00
     411                  $0.00                     $0.00                     $0.00          $0.00
     412                  $0.00                     $0.00                     $0.00          $0.00
     413                  $0.00                     $0.00                     $0.00          $0.00
     414                  $0.00                     $0.00                     $0.00          $0.00
     415                  $0.00                     $0.00                     $0.00          $0.00
     416                  $0.00                     $0.00                     $0.00          $0.00
     417                  $0.00                     $0.00                     $0.00          $0.00
     418                  $0.00                     $0.00                     $0.00          $0.00
     419                  $0.00                     $0.00                     $0.00          $0.00
     420                  $0.00                     $0.00                     $0.00          $0.00   35
     421                  $0.00                     $0.00                     $0.00          $0.00
     422                  $0.00                     $0.00                     $0.00          $0.00
     423                  $0.00                     $0.00                     $0.00          $0.00
     424                  $0.00                     $0.00                     $0.00          $0.00
     425                  $0.00                     $0.00                     $0.00          $0.00
     426                  $0.00                     $0.00                     $0.00          $0.00
     427                  $0.00                     $0.00                     $0.00          $0.00
     428                  $0.00                     $0.00                     $0.00          $0.00
     429                  $0.00                     $0.00                     $0.00          $0.00
     430                  $0.00                     $0.00                     $0.00          $0.00
     431                  $0.00                     $0.00                     $0.00          $0.00
     432                  $0.00                     $0.00                     $0.00          $0.00   36




Georgia Department of Community Affairs                Part III C-HUD Insured Loan                   page 68 of 128
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                          2011-049 Stratford Court, Winder, Barrow County
                                                 III. Amortization Schedule
 Month        P&I Payment                   Interest                Principal          Balance       Year
     433                  $0.00                     $0.00                     $0.00          $0.00
     434                  $0.00                     $0.00                     $0.00          $0.00
     435                  $0.00                     $0.00                     $0.00          $0.00
     436                  $0.00                     $0.00                     $0.00          $0.00
     437                  $0.00                     $0.00                     $0.00          $0.00
     438                  $0.00                     $0.00                     $0.00          $0.00
     439                  $0.00                     $0.00                     $0.00          $0.00
     440                  $0.00                     $0.00                     $0.00          $0.00
     441                  $0.00                     $0.00                     $0.00          $0.00
     442                  $0.00                     $0.00                     $0.00          $0.00
     443                  $0.00                     $0.00                     $0.00          $0.00
     444                  $0.00                     $0.00                     $0.00          $0.00   37
     445                  $0.00                     $0.00                     $0.00          $0.00
     446                  $0.00                     $0.00                     $0.00          $0.00
     447                  $0.00                     $0.00                     $0.00          $0.00
     448                  $0.00                     $0.00                     $0.00          $0.00
     449                  $0.00                     $0.00                     $0.00          $0.00
     450                  $0.00                     $0.00                     $0.00          $0.00
     451                  $0.00                     $0.00                     $0.00          $0.00
     452                  $0.00                     $0.00                     $0.00          $0.00
     453                  $0.00                     $0.00                     $0.00          $0.00
     454                  $0.00                     $0.00                     $0.00          $0.00
     455                  $0.00                     $0.00                     $0.00          $0.00
     456                  $0.00                     $0.00                     $0.00          $0.00   38
     457                  $0.00                     $0.00                     $0.00          $0.00
     458                  $0.00                     $0.00                     $0.00          $0.00
     459                  $0.00                     $0.00                     $0.00          $0.00
     460                  $0.00                     $0.00                     $0.00          $0.00
     461                  $0.00                     $0.00                     $0.00          $0.00
     462                  $0.00                     $0.00                     $0.00          $0.00
     463                  $0.00                     $0.00                     $0.00          $0.00
     464                  $0.00                     $0.00                     $0.00          $0.00
     465                  $0.00                     $0.00                     $0.00          $0.00
     466                  $0.00                     $0.00                     $0.00          $0.00
     467                  $0.00                     $0.00                     $0.00          $0.00
     468                  $0.00                     $0.00                     $0.00          $0.00   39
     469                  $0.00                     $0.00                     $0.00          $0.00
     470                  $0.00                     $0.00                     $0.00          $0.00
     471                  $0.00                     $0.00                     $0.00          $0.00
     472                  $0.00                     $0.00                     $0.00          $0.00
     473                  $0.00                     $0.00                     $0.00          $0.00
     474                  $0.00                     $0.00                     $0.00          $0.00
     475                  $0.00                     $0.00                     $0.00          $0.00
     476                  $0.00                     $0.00                     $0.00          $0.00
     477                  $0.00                     $0.00                     $0.00          $0.00
     478                  $0.00                     $0.00                     $0.00          $0.00
     479                  $0.00                     $0.00                     $0.00          $0.00
     480                  $0.00                     $0.00                     $0.00          $0.00   40




Georgia Department of Community Affairs                Part III C-HUD Insured Loan                   page 69 of 128
      Georgia Department of Community Affairs                                       2011 Funding Application                                      Office of Affordable Housing
                                                    PART FOUR - USES OF FUNDS - 2011-049 Stratford Court, Winder, Barrow County
                                                           CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
                                                                                                         New                                                 Amortizable or
I. DEVELOPMENT BUDGET                                                                                                      Acquisition     Rehabilitation
                                                                                                      Construction                                          Non-Depreciable
                                                                                    TOTAL COST                               Basis            Basis
                                                                                                         Basis                                                  Basis
  PRE-DEVELOPMENT COSTS                                                                                                     PRE-DEVELOPMENT COSTS
  Property Appraisal
  Market Study                                                                            15,000                 15,000
  Environmental Report(s)                                                                  7,500                  7,500
  Soil Borings                                                                            50,000                 50,000
  Boundary and Topographical Survey                                                       12,500                 12,500
  Zoning/Site Plan Fees                                                                      -                      -
  Other: Noise assessment, utility availability services                                   8,000                  8,000
  Other: Fire protection plan review                                                       3,500                  3,500
  Other: Wetlands investigation                                                            1,500                  1,500
                                                                         Subtotal         98,000                 98,000             -                 -                 -
  ACQUISITION                                                                                                                      ACQUISITION
  Land                                                                                   700,000                                                                    700,000
  Site Demolition
  Acquisition Legal Fees (if existing structures)
  Existing Structures
                                                                         Subtotal        700,000                                   -                                700,000
  LAND IMPROVEMENTS                                                                                                           LAND IMPROVEMENTS
  Site Construction (On-site)                                                            862,308                732,962                                             129,346
  Site Construction (Off-site)
                                                                         Subtotal        862,308                732,962             -                 -             129,346
  STRUCTURES                                                                                                                       STRUCTURES
  Residential Structures - New Construction                                             3,553,692              3,553,692
  Residential Structures - Rehab
  Accessory Structures (ie. community building, maintenance building, etc.)
                                                                        Subtotal        3,553,692              3,553,692          -              -                      -
  CONTRACTOR SERVICES                                   14.00%                                                               CONTRACTOR SERVICES
  Builder Profit:                                        6.00%           264,960         264,960                264,960
  General Requirements* and Builder Overhead             8.00%           353,280         353,280                353,280
  *Refer to General Requirements policy in QAP                          Subtotal         618,240                618,240             -                 -                 -
  Total Construction Hard Costs                78,660.00            per unit
  5,034,240.00                                     93.20            per sq ft
  CONSTRUCTION CONTINGENCY                                                                                                 CONSTRUCTION CONTINGENCY
  Construction Contingency                                             5.0000%           251,712                251,712




      d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                             Part IV-Uses of Funds                                                            70 of 128
      Georgia Department of Community Affairs                                      2011 Funding Application                                    Office of Affordable Housing
                                                 PART FOUR - USES OF FUNDS - 2011-049 Stratford Court, Winder, Barrow County
                                                        CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
                                                                                                        New                                               Amortizable or
I. DEVELOPMENT BUDGET                                                                                                     Acquisition   Rehabilitation
                                                                                                     Construction                                        Non-Depreciable
                                                                                   TOTAL COST                               Basis          Basis
                                                                                                        Basis                                                Basis
  CONSTRUCTION PERIOD FINANCING                                                                                         CONSTRUCTION PERIOD FINANCING
  Construction Loan Fee                                                                  30,000                30,000
  Construction Loan Interest                                                            180,000               120,600                                             59,400
  Construction Legal Fees                                                                30,000                30,000
  Construction Period Real Estate Tax                                                    10,000                10,000
  Construction Insurance                                                                 13,440                                                                   13,440
  Bridge Loan Fee and Bridge Loan Interest
  Payment and Performance bonds                                                          47,532                47,532
  Other: application/due diligence fee & construction inspection fees                    40,000                40,000
                                                                        Subtotal        350,972               278,132            -               -                72,840
  PROFESSIONAL SERVICES                                                                                                    PROFESSIONAL SERVICES
  Architectural Fee - Design                                                            245,000               245,000
  Architectural Fee - Supervision                                                        50,000                50,000
  Green Building Consultant Fee
  Green Building Program Certification Fee (LEED or Earthcraft)                          25,000                25,000
  Accessibility Inspections and Plan Review                                              10,000                10,000
  Construction Materials Testing
  Engineering                                                                            40,000                40,000
  Real Estate Attorney                                                                   15,000                15,000
  Accounting                                                                             40,000                25,000                                             15,000
  Other: Landscape architecture design and supervision fee                               25,000                25,000
                                                                        Subtotal        450,000               435,000             -              -                15,000
  LOCAL GOVERNMENT FEES                                                                                                    LOCAL GOVERNMENT FEES
  Building Permits                                                                       36,700                36,700
  Impact Fees                                                                               -                     -
  Water Tap Fees                              waived?      No                            55,040                55,040
  Sewer Tap Fees                              waived?      No                           224,000               224,000
                                                                      Subtotal          315,740               315,740            -               -                   -
  PERMANENT FINANCING FEES                                                                                                PERMANENT FINANCING FEES
  Permanent Loan Fees                                                                       -                                                                        -
  Permanent Loan Legal Fees                                                                 -
  Title and Recording Fees                                                               30,000                30,000
  As-Built Survey                                                                         5,000                 5,000
  Bond Issuance Premium
  Cost of Issuance / Underwriter's Discount
  Other: <Enter detailed description here; use Comments section if needed>
                                                                      Subtotal           35,000                35,000              -               -                 -
      d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                            Part IV-Uses of Funds                                                          71 of 128
Georgia Department of Community Affairs                             2011 Funding Application                         Office of Affordable Housing
                                       PART FOUR - USES OF FUNDS - 2011-049 Stratford Court, Winder, Barrow County
                                           CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS




d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                    Part IV-Uses of Funds                                             72 of 128
      Georgia Department of Community Affairs                                     2011 Funding Application                                      Office of Affordable Housing
                                                PART FOUR - USES OF FUNDS - 2011-049 Stratford Court, Winder, Barrow County
                                                     CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

I. DEVELOPMENT BUDGET                                                                                  New               Acquisition     Rehabilitation    Amortizable or
                                                                                                    Construction           Basis            Basis         Non-Depreciable
                                                                                  TOTAL COST
                                                                                                       Basis                                                  Basis
  DCA-RELATED COSTS                                                                                                          DCA-RELATED COSTS
  DCA HOME Loan Pre-Application Fee
  Tax Credit Application Fee                                                             4,000                                                                      4,000
  DCA Waiver Fees
  LIHTC Allocation Processing Fee                                        53,900         53,900                                                                     53,900
  LIHTC Compliance Monitoring Fee                                        44,800         44,800                                                                     44,800
  DCA Front End Analysis Fee (HOME, when ID of Interest)
  DCA Final Inspection Fee (Tax Credit only - no HOME)                                   3,000                                                                      3,000
  Other: <Enter detailed description here; use Comments section if needed>
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal        105,700                                                                    105,700
  EQUITY COSTS                                                                                                                  EQUITY COSTS
  Partnership Organization Fees                                                         20,000                                                                     20,000
  Tax Credit Legal Opinion                                                              60,000                                                                     60,000
  Syndicator Legal Fees                                                                 45,000                                                                     45,000
  Other:
                                                                       Subtotal        125,000                                                                    125,000
  DEVELOPER'S FEE                                                                                                             DEVELOPER'S FEE
  Developer's Overhead                                               20.000%           204,000                204,000
  Consultant's Fee                                                   0.000%
  Developer's Profit                                                 80.000%            816,000                816,000
                                                                       Subtotal       1,020,000              1,020,000           -              -                      -
  START-UP AND RESERVES                                                                                                   START-UP AND RESERVES
  Marketing                                                                             40,000                                                                     40,000
  Rent-Up Reserves                                                                      69,000                                                                     69,000
  Operating Deficit Reserve:                                                           136,500                                                                    136,500
  Replacement Reserve
  Furniture, Fixtures and Equipment                  Per Unit: 135675.000%              86,832                 86,832
  Other: RE tax during lease up                                                         16,000                                                                     16,000
                                                                       Subtotal        348,332                 86,832            -                  -             261,500
  OTHER COSTS                                                                                                                   OTHER COSTS
  Relocation
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal             -                      -              -                 -                  -
  TOTAL DEVELOPMENT COST                                                              8,834,696              7,425,310            -                 -            1,409,386
  Total Per Unit Cost Limitation:            8,953,444           TDC Per Unit:       138,042.13   TDC Per Sq Ft:                163.55



      d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                           Part IV-Uses of Funds                                                             73 of 128
        Georgia Department of Community Affairs                                     2011 Funding Application                                                Office of Affordable Housing
                                                   PART FOUR - USES OF FUNDS - 2011-049 Stratford Court, Winder, Barrow County
                                                        CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
II. TAX CREDIT CALCULATION - BASIS METHOD                                                                  New
                                                                                                                         4% Acquisition          Rehabilitation
                                                                                                        Construction
                                                                                                                             Basis                  Basis
   Subtractions From Eligible Basis                                                                        Basis

   Amount of federal grant(s) used to finance qualifying development costs
   Amount of nonqualified nonrecourse financing
   Costs of Nonqualifying units of higher quality
   Nonqualifying excess portion of higher quality units
   Historic Tax Credits (Residential Portion Only)
   Other <Enter detailed description here; use Comments section if needed>
   Total Subtractions From Basis:                                                                                0                                      0
   Eligible Basis Calculation
   Total Basis                                                                                            7,425,310             0                       0
   Less Total Subtractions From Basis (see above)                                                             0                                         0
   Total Eligible Basis                                                                                   7,425,310             0                       0
   Eligible Basis Adjustment (DDA/QCT Location or State Designated Boost)           Type: State Boost      130.00%
   Adjusted Eligible Basis                                                                                9,652,903             0                      0
   Multiply Adjusted Eligible Basis by Applicable Fraction                                                 100.00%           100.00%                100.00%
   Qualified Basis                                                                                        9,652,903             0                      0
   Multiply Qualified Basis by Applicable Credit Percentage                                                 9.00%
   Maximum Tax Credit Amount                                                                               868,761              0                       0
   Total Basis Method Tax Credit Calculation                                                                                 868,761

III. TAX CREDIT CALCULATION - GAP METHOD                                                                  Maximum TDC                                                  If Historic Designation
                                                                                                                                                                            or Brownfield
     Equity Gap Calculation                                                                                 8,834,696   If TDC > PUCL, provide amount of grant from
                                                                                                                                                                    Development involved,
     Total Development Cost (TDC or PUCL; explain in Comments if TDC > PUCL)                               8,834,696    foundation or charitable org to cover the      indicate below:
                                                                                                                        cost exceeding the PUCL:
     Subtract Non-LIHTC (excluding deferred fee) Source of Funds                                               0                                                                       Y/N
     Equity Gap                                                                                            8,834,696        Grant Amt         Foundtn / Charitble Org Hist Desig       No
     Divide Equity Gap by 10                                                                                  / 10              0                        0            Brownfld         No
     Annual Equity Required                                                                                 883,470                 Federal                   State
     Enter Final Federal and State Equity Factors (not including GP contribution)                           1.1100         =        0.8500         +         0.2600
     Total Gap Method Tax Credit Calculation                                                                795,919

   TAX CREDIT PROJECT MAXIMUM - Lower of Basis Method, Gap Method and DCA Limit:                            795,919

   TAX CREDIT REQUEST - Cannot exceed Tax Credit Project Maximum, but may be lower:                         770,000

IV. TAX CREDIT ALLOCATION - Lower of Tax Credit Request and Tax Credit Project Maximum                      770,000


        d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                             Part IV-Uses of Funds                                                                            74 of 128
         Georgia Department of Community Affairs                                                      2011 Funding Application                                           Office of Affordable Housing
                                                             PART FOUR - USES OF FUNDS - 2011-049 Stratford Court, Winder, Barrow County
                                                                   CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                                   VI.   DCA COMMENTS - DCA USE ONLY
The Applicant determined the construction hard costs through direct input from Norsouth Construction Company and their
construction cost estimating tool. This program uses inputs from the development program, conceptual site plan, unit sizes, unit
mix and common area assumptions. This information is then used to determine material quantities which are then priced using
current market prices from similar projects recently built by Norsouth Construction Company. Please note - the costs for
certification in the Earth Craft multifamily program have been included in this estimating exercise.




Developer fee is calculated at 15% of total development costs, less the developer fee, land costs and the builder profit due to the
identity of interest between the Developer and the General Contractor. Local government fees are budgeted based on discussions
with representatives of the City of Winder Water Department and Sewer Department. The water tap fees are equal to $860 per
unit and the sewer tap fees are equal to $3,500 per unit. No fee schedule was provided by the City of Winder at that time. The
building permit fees are based on our experience of $5 per $1000 of construction costs as well as aproximately $10,000 for land
disturbance permit fees. Furthermore, the City of Winder confirmed that there will be no impact fees for this project.




The rent up reserve is sized using three months of operating expenses. Based on our lease up projections and absorption pace,
this should be sufficient to cover lease up period deficits. Included in this calculation are costs for insurance escrows during lease
up, legal fees and marketing expenses during lease up. Similarly, the construction interest reserve is calculated as one year of
interest on our loan of $2,980,352 at 6%. The operating deficit reserve is sized to aproximately six months of operating expenses
including replacement reserves, as required by our equity investor. There is no debt service included in this calculation since there
is no permanent debt service for this project.




Items are included in the "other" categories as it applies to the particular aspects of this project and are based on the Developer's
experience with similar costs on other tax credit senior housing projects. Costs are included for noise assessment, utility
availability services, fire protection plan review, wetlands investigation, construction application, due diligence and inspection fees,
landscape architecture design and supervision fees and real estate taxes during lease up. Professional services fees are also
consistent with fees incurred by Norsouth for similar tax credit senior housing projects in the past several years.




         d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                Part IV-Uses of Funds                                                            75 of 128
Georgia Department of Community Affairs                                2011 Funding Application                                               Office of Affordable Housing



                                PART FIVE - UTILITY ALLOWANCES - 2011-049 Stratford Court, Winder, Barrow County

                                                             DCA Utility Region for project:          Middle

    I. UTILITY ALLOWANCE SCHEDULE #1                         Source of Utility Allowances             Georgia Department of Community Affairs
                                                             Date of Utility Allowances               June 1, 2011           Structure MF
                                                              Paid By (check one)                     Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
       Utility              Fuel                               Tenant     Owner                          0           1           2          3          4
       Heat                 Electric Heat Pump                   X                                                   7           9
       Air Conditioning     Electric                             X                                                  32          41
       Cooking              Electric                             X                                                   9          12
       Hot Water            Electric                             X                                                  28          36
       Lights               Electric                             X                                                  26          33
       Water & Sewer        Submetered?       No                            X
       Refuse Collection                                                    X
       Total Utility Allowance by Unit Size                                                                0            102          131            0           0

    II. UTILITY ALLOWANCE SCHEDULE #2                        Source of Utility Allowances
                                                             Date of Utility Allowances                                           Structure
                                                              Paid By (check one)                     Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
       Utility              Fuel                               Tenant     Owner                          0           1           2          3          4
       Heat                 <<Select Fuel >>
       Air Conditioning     Electric
       Cooking              <<Select Fuel >>
       Hot Water            <<Select Fuel >>
       Lights               Electric
       Water & Sewer        Submetered? <Select>
       Refuse Collection
       Total Utility Allowance by Unit Size                                                                0             0             0            0           0

       *Elderly allowances cannot be used except at properties that have 100% HUD PBRA and satisfy the DCA definition of "elderly"
       APPLICANT COMMENTS AND CLARIFICATIONS
       There is no local public housing authority in Barrow County that administers a Section 8 program, therefore the Applicant is using the DCA utility
       allowance table for the Middle region.
       DCA COMMENTS




d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                      Part V-Utility Allowances                                                          page 76 of 128
                                        Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             2011 Funding Application                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Of f ice of Af f ordable Housing




                                                PART SIX - PROJECTED REVENUES & EXPENSES - 2011-049 Stratford Court, W inder, Barrow County

                                                                                                                                                                  Atlanta-Sandy Springs-Marietta
I.   RENT SCHEDULE          DO NOT cut, copy or paste cells in this tab. Assign a Rent Type of "N/A-CS" to Common Space units.                      MSA/NonMSA:

     HOME projects - Fixed or Floating units:                                                                                                                                            AMI
                                                                                                 PBRA Provider                                                                          68,300                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Efficiency                                           Efficiency                                           Efficiency
     Are 100% of units HUD PBRA?                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              Efficiency     1 BR       2 BR       3 BR       4 BR     Efficiency     1 BR       2 BR       3 BR       4 BR     Efficiency     1 BR       2 BR       3 BR        4 BR
                                                                                                                                                                                                                                                                                                                                                                                                                                                       Efficiency   1 BR    2 BR    3 BR    4 BR    Efficiency   1 BR    2 BR    3 BR    4 BR    Efficiency   1 BR    2 BR    3 BR    4 BR       PHA         PHA        PHA        PHA        PHA         PHA         PHA        PHA        PHA        PHA         PHA         PHA        PHA        PHA         PHA        Efficiency    1 BR     2 BR       3 BR                                                                                                                                                                                                                                                                                                                                                                            New       1 BR New 2 BR New 3 BR New 4 BR New        New       1 BR New 2 BR New 3 BR New 4 BR New        New       1 BR New 2 BR New 3 BR New 4 BR New       Efficiency                                                                                                            Efficiency
                                                                                                  or Operating
                                                                                                                    Monthly Net Rent                                                     Affordable to:                              Efficiency                                         Efficiency                                         Efficiency                                                                                                    PBRA       PBRA    PBRA    PBRA    PBRA      PBRA       PBRA    PBRA    PBRA    PBRA      PBRA       PBRA    PBRA    PBRA    PBRA    Oper Sub     Oper Sub   Oper Sub   Oper Sub   Oper Sub   Oper Sub     Oper Sub   Oper Sub   Oper Sub   Oper Sub   Oper Sub     Oper Sub   Oper Sub   Oper Sub    Oper Sub     Common       Common   Common     Common                                                                                                                                                                                                                                                                                                               Efficiency     1 BR       2 BR       3 BR       4 BR     Construct    Construct Construct Construct Construct Construct    Construct Construct Construct Construct Construct    Construct Construct Construct Construct        LI        1 BR       2 BR       3 BR       4 BR     Efficiency    1 BR         2 BR       3 BR        4 BR           CS        1 BR       2 BR       3 BR       4 BR         Efficiency    1 BR       2 BR       3 BR
         Rent        Nbr of No. of Unit          Unit      Max Gross Proposed            Utility                                         Employee     Building       Type of
                                                                                                   Subsidy ***                                                                                                                          60%       1 BR 60% 2 BR 60% 3 BR 60% 4 BR 60%      50%       1 BR 50% 2 BR 50% 3 BR 50% 4 BR 50%      30%       1 BR 30% 2 BR 30% 3 BR 30% 4 BR 30%   Efficiency   1 BR Mkt   2 BR Mkt   3 BR Mkt   4 BR Mkt      30%        30%     30%     30%     30%       50%        50%     50%     50%     50%       60%        60%     60%     60%     60%       30%         30%        30%        30%        30%         50%         50%        50%        50%        50%         60%         60%        60%        60%         60%          Space       Space    Space      Space   4 BR Common    Efficiency 60%                                                           Efficiency   1 BR 50% 2 BR 50% 3 BR 50% 4 BR 50%   Efficiency   1 BR 30% 2 BR 30% 3 BR 30% 4 BR 30%   Efficiency   1 BR Mkt   2 BR Mkt   3 BR Mkt   4 BR Mkt   Efficiency     1 BR      2 BR      3 BR      4 BR    Common       Common     Common     Common     Common       ion LI       ion LI   ion LI    ion LI    ion LI    ion Mkt      ion Mkt   ion Mkt   ion Mkt   ion Mkt   ion CS        ion CS   ion CS    ion CS    ion CS     Acq/Rhb      Acq/Rhb    Acq/Rhb    Acq/Rhb    Acq/Rhb    Acq/Rhb      Acq/Rhb     Acq/Rhb     Acq/Rhb     Acq/Rhb     Acq/Rhb      Acq/Rhb    Acq/Rhb    Acq/Rhb    Acq/Rhb       Rehab LI     Rehab LI   Rehab LI   Rehab LI
         Type        Bdrms Baths Count           Area      Rent Limit Gross Rent       Allowance (See note below) Per Unit      Total      Unit        Type          Activity          Income      % of AMI   Underwriter Comments     Units        Units    Units    Units    Units      Units        Units    Units    Units    Units      Units        Units    Units    Units    Units    Mkt Units      Units      Units      Units      Units      Units      Units   Units   Units   Units     Units      Units   Units   Units   Units     Units      Units   Units   Units   Units     Units       Units      Units      Units      Units       Units       Units      Units      Units      Units       Units       Units      Units      Units       Units         Units       Units    Units      Units    Space Units          SF        1 BR 60% SF   2 BR 60% SF   3 BR 60% SF   4 BR 60% SF    50% SF         SF       SF       SF       SF       30% SF         SF       SF       SF       SF       Mkt SF         SF         SF         SF         SF      PBRA SF      PBRA SF   PBRA SF   PBRA SF   PBRA SF   Space SF     Space SF   Space SF   Space SF   Space SF     Units        Units    Units     Units     Units      Units        Units     Units     Units     Units     Units         Units    Units     Units     Units       Units      LI Units   LI Units   LI Units   LI Units   Mkt Units    Mkt Units   Mkt Units   Mkt Units   Mkt Units     Units      CS Units   CS Units   CS Units   CS Units        Units       Units      Units      Units
        50% AMI        1     1.0     8           752          641        522               102                        420        3,360      No        3+ Story    New Construction      20,880      40.76%
                                                                                                                                                                                                                                                                                                             8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 6016                                                                                                                                                                                                                                                                              8
        50% AMI        2     1.0     2           942          768        621               131                        490          980      No        3+ Story    New Construction      24,840      40.41%
                                                                                                                                                                                                                                                                                                                      2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 1884                                                                                                                                                                                                                                                                              2
        60% AMI        1     1.0    25           752          769        557               102                        455       11,375      No        3+ Story    New Construction      22,280      43.49%
                                                                                                                                                                                                                                                       25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   18800                                                                                                                                                                                                                                                                                                                                              25
        60% AMI        2     1.0    28           942          922        646               131                        515       14,420      No        3+ Story    New Construction      25,840      42.04%
                                                                                                                                                                                                                                                                28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        26376                                                                                                                                                                                                                                                                                                                                         28
        N/A-CS         2     1.0     1           942                                                                  -            -     Common       3+ Story    New Construction                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       1                                                                                                                                                                                                                                                                                                                                                    942                                                                                                                                                                   1
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                                                                                                                      -            -
                           TOTAL       64        54,018                                                MONTHLY TOTAL            30,135
                                                                                                                                                                                                                                                     25       28                                        8         2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  1                                                   18,800        26,376                                                6,016    1,884                                                                                                                                                                                                                  942                                           33         30                                                                                                        1
                                                                                                        ANNUAL TOTAL           361,620

*** NOTE: W hen selecting "PHA Operating Subsidy" in the "PBRA Provider or Operating Subsidy" column above, please also then enter a zero in the "Proposed Gross Rent" column above AND
include the PHA operating subsidy amount in the "III. Ancillary and Other Income" section below. Also refer to the Application Instructions provided separately.




                                        d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Part VI-Revenues & Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 77 of 128
                                             Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                         2011 Funding Application       Of f ice of Af f ordable Housing




                                                    PART SIX - PROJECTED REVENUES & EXPENSES - 2011-049 Stratford Court, W inder, Barrow County


II. UNIT SUMMARY                                                                                                                                                                    II.   UNIT SUMMARY
   Units:                                                                     Efficiency        1BR           2BR       3BR   4BR     Total                                               Units:                                                                    Efficiency    1BR        2BR       3BR   4BR   Total
                    Low-Income                                  60% AMI              -                  25         28   -     -             53   (Includes manager units that are                           Low-Income                                   60% AMI           -           25         28   -     -           53   (Include mgr units that are income restricted)
                                                                50% AMI              -                   8          2   -     -             10   income restricted)                                                                                      50% AMI           -            8          2   -     -           10
                                                                T otal               -                  33         30   -     -             63                                                                                                           T otal            -           33         30   -     -           63
NOTE TO             Unrestricted                                                     -              -          -        -     -         -                                                                   Unrestricted                                                   -       -          -        -     -       -
APPLICANTS: If      Total Residential                                                -                  33         30   -     -             63                                                              Total Residential                                              -           33         30   -     -           63
the numbers         Common Space                                                     -              -               1   -     -              1   (no rent to be charged)                                    Common Space                                                   -       -               1   -     -            1   (no rent may be charged)
compiled in this    Total                                                            -                  33         31   -     -             64                                                              Total                                                          -           33         31   -     -           64
Summary do not
appear to match     PBRA-Assisted                               60% AMI              -              -          -        -     -         -                                                                   PBRA-Assisted                                60% AMI           -       -          -        -     -       -
what was entered
                    (included in LI above)                      50% AMI              -              -          -        -     -         -                                                                   (included in LI above)                       50% AMI           -       -          -        -     -       -
in the Rent Chart
                                                                T otal               -              -          -        -     -         -                                                                                                                T otal            -       -          -        -     -       -
above, please
verify that all
applicable          PHA Operating Subsidy-Assisted              60% AMI              -              -          -        -     -         -                                                                   PHA Operating Subsidy-Assisted               60% AMI           -       -          -        -     -       -
columns were        (included in LI above)                      50% AMI              -              -          -        -     -         -                                                                   (included in LI above)                       50% AMI           -       -          -        -     -       -
completed in the                                                T otal               -              -          -        -     -         -                                                                                                                T otal            -       -          -        -     -       -
rows used in the    Type of Construction Activity                                                                                                                                                           Construction:
Rent Chart                              New Construction        Low Inc              -                  33         30   -     -             63                                                                                       New Construction    Low Inc           -           33         30   -     -           63
above.                                                          Unrestricted         -              -          -        -     -         -                                                                                                                Mkt Rate          -       -          -        -     -       -
                                                                T otal + CS          -                  33         31   -     -             64                                                                                                           T otal + CS       -           33         31   -     -           64
                                        Acq/Rehab               Low Inc              -              -          -        -     -         -                                                                                            Acq/Rehab           Low Inc           -       -          -        -     -       -
                                                                Unrestricted         -              -          -        -     -         -                                                                                                                Mkt Rate          -       -          -        -     -       -
                                                                T otal + CS          -              -          -        -     -         -                                                                                                                T otal + CS       -       -          -        -     -       -
                                        Substantial Rehab       Low Inc              -              -          -        -     -         -                                                                                            Rehab Only          Low Inc           -       -          -        -     -       -
                                        Only                    Unrestricted         -              -          -        -     -         -                                                                                                                Mkt Rate          -       -          -        -     -       -
                                                                T otal + CS          -              -          -        -     -         -                                                                                                                T otal + CS       -       -          -        -     -       -
                                        Adaptive Reuse                                                                                  -
                                        Historic Rehab                                                                                  -
                    Building Type:                                                                                                                                                                          Building Type:
                                        Multifamily                                  -                  33         31   -     -             64                                                                                       Multifamily                           -           33         31   -     -           64
                                        SF Detached                                  -              -          -        -     -         -                                                                                            SF Detached                           -       -          -        -     -       -
                                        Townhome                                     -              -          -        -     -         -                                                                                            Townhome                              -       -          -        -     -       -
                                        Duplex                                       -              -          -        -     -         -                                                                                            Duplex                                -       -          -        -     -       -
                                                                                     -              -          -        -     -         -                                                                                                                                  -       -          -        -     -       -
                                        Manufactured home                                                                                                                                                                            Manufactured home

   Unit Square Footage:                                                                                                                                                                   Square Footage:
                  Low Income                                    60% AMI              -        18,800         26,376     -     -       45,176                                                                Low Income                                   60% AMI           -     18,800     26,376     -     -     45,176
                                                                50% AMI              -         6,016          1,884     -     -        7,900                                                                                                             50% AMI           -      6,016      1,884     -     -      7,900
                                                                T otal               -        24,816         28,260     -     -       53,076                                                                                                             T otal            -     24,816     28,260     -     -     53,076
                    Unrestricted                                                     -           -              -       -     -          -                                                                  Unrestricted                                                   -        -          -       -     -        -
                    Total Residential                                                -        24,816         28,260     -     -       53,076                                                                Total Residential                                              -     24,816     28,260     -     -     53,076
                    Common Space                                                     -           -              942     -     -          942                                                                Common Space                                                   -        -          942     -     -        942
                    Total                                                            -        24,816         29,202     -     -       54,018                                                                Total                                                          -     24,816     29,202     -     -     54,018




                                             d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                                                                                                                                                                               Part VI-Revenues & Expenses                           78 of 128
                                             Georgia Department of Community Af f airs                                                                                                                    2011 Funding Application       Of f ice of Af f ordable Housing




                                                     PART SIX - PROJECTED REVENUES & EXPENSES - 2011-049 Stratford Court, W inder, Barrow County


III. ANCILLARY AND OTHER INCOME (annual amounts)

   Ancillary Income                                                              7,232                               Laundry, vending, app fees, etc. Will be exactly 2% of potential gross income.

   Other Income (OI) by Year:

   Included in Mgt Fee:                                              1            2             3       4       5            6              7               8                  9               10
   Operating Subsidy
   Other:
                   Total OI in Mgt Fee                               -             -                -    -       -               -              -               -                  -                  -

   NOT Included in Mgt Fee:
   USDA 538 Loan Interest Credit (fill in Part III A tab)
   Property Tax Abatement
   Other:
                     Total OI NOT in Mgt Fee                         -             -                -    -       -               -              -               -                  -                  -




   Included in Mgt Fee:                                             11           12             13      14     15           16             17              18                 19               20
   Operating Subsidy
   Other:
                     Total OI in Mgt Fee                             -             -                -    -       -               -              -               -                  -                  -

   NOT Included in Mgt Fee:
   USDA 538 Loan Interest Credit (fill in Part III A tab)
   Property Tax Abatement
   Other:
                     Total OI NOT in Mgt Fee                         -             -                -    -       -               -              -               -                  -                  -




   Included in Mgt Fee:                                             21           22             23      24     25           26             27              28                 29               30
   Operating Subsidy
   Other:
                     Total OI in Mgt Fee                             -             -                -    -       -               -              -               -                  -                  -

   NOT Included in Mgt Fee:
   USDA 538 Loan Interest Credit (fill in Part III A tab)
   Property Tax Abatement
   Other:
                     Total OI NOT in Mgt Fee                         -             -                -    -       -               -              -               -                  -                  -




                                             d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                          Part VI-Revenues & Expenses                           79 of 128
                                                  Georgia Department of Community Af f airs                                                                                                                   2011 Funding Application       Of f ice of Af f ordable Housing




                                                          PART SIX - PROJECTED REVENUES & EXPENSES - 2011-049 Stratford Court, W inder, Barrow County

IV. ANNUAL OPERATING EXPENSE BUDGET

    On-Site Staff Costs                                                                                On-Site Security                                       Taxes and Insurance
    Management Salaries & Benefits                                         38,000                      Contracted Guard                                       Real Estate Taxes (Gross)*             14,220
                                                                           34,000                                                                 1,200
    Maintenance Salaries & Benefits                                                                    Electronic Alarm System                                Insurance**                            13,440
                                                                                                                                                  1,200
    Support Services Salaries & Benefits                                                                                  Subtotal                            Other (describe here)
    Employee Incentive                                                      3,000
                                                                                                                                                                 Subtotal                            27,660
                                                                           75,000
                    Subtotal

    On-Site Office Costs                                                                               Professional Services                                  Management Fee:                        17,152
                                                                            2,500                                                                  1,500
    Office Supplies & Postage                                                                          Legal                                                     288.17   per unit per year
                                                                           12,000                                                                  8,000
    Telephone                                                                                          Accounting                                                  24.01       per unit per month
                                                                              500                                                                  5,000
    Travel                                                                                             Advertising
                                                                                                                                                   7,500
    Leased Furniture / Equipment                                                                       Resident Services                                      (Management Fee is from Pro Forma, Section 1,
    Activities Supplies / Overhead Cost                                     2,200                                         Subtotal                22,000      Operating Assumptions)
    Cable and Internet                                                     10,000
                                                                           27,200
                    Subtotal

    Maintenance Expenses                                                                               Utilities          ($/mth/unit)                        TOTAL OPERATING EXPENSES
                                                                           12,000                                                                 15,000
    Contracted Repairs                                                                                 Electricity           19.53                               4,008   per unit                   256,492
                                                                            5,000
    General Repairs                                                                                    Natural Gas
                                                                           15,000                                                                 17,280
    Grounds Maintenance                                                                                Water&Swr            22.50
                                                                            3,500                                                                  8,000
    Extermination                                                                                      Trash Collection                                       Replacement Reserve                    16,000
    Maintenance Supplies                                                    3,000                                                                             Enter desired per unit amount:            250
                                                                                                       Other (describe here)
                                                                            4,500                                                                 40,280
    Elevator Maintenance                                                                                                  Subtotal
    Redecorating
    Fire Sprinkler Maintenance                                              3,000
                                                                                                                                                              TOTAL ANNUAL EXPENSES
                                                                           46,000
                    Subtotal                                                                                                                                                                        272,492

V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                                 VI.   DCA COMMENTS
Real estate tax calculations for this location are provided in tab 8. The City of Winder does not currently charge real estate taxes.
The amount in the analysis was increased by approximately 10 percent to allow for potential increases between current millage
rates and those of the projected stabilized year 1 as well as the possibility that the City of Winder is forced to implement property
taxes as a new revenue source due to the difficult economic times.
Insurance calculation is based upon the commitment letter provided by Westcott and Associates, Inc. which is provided in tab 8.




Because this is a rural project located in the Atlanta MSA we have budgeted operating expenses of over $4,000 per unit
consistent with DCA's minimum requirement for an urban project in a MSA.




                                                  d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                         Part VI-Revenues & Expenses                           80 of 128
Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                                                                                                                                                                     2011 Funding Application                                                                                                                                                                                                                                                                                                                                                                                                           Of f ice of Af f ordable Housing




                                                                                                                                                                                                                                                0 BR       1 BR       2 BR       3 BR       4 BR                                                             0 BR     1 BR     2 BR     3 BR     4 BR      0 BR       1 BR       2 BR       3 BR       4 BR      0 BR      1 BR      2 BR      3 BR        4 BR         0 BR     1 BR      2 BR      3 BR      4 BR      0 BR      1 BR      2 BR      3 BR      4 BR       0 BR       1 BR       2 BR       3 BR       4 BR
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Efficiency
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            New      1 BR New 2 BR New 3 BR New 4 BR New       Efficiency    1 BR       2 BR     3 BR       4 BR    Efficiency    1 BR    2 BR    3 BR    4 BR
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Effic   1 BR    2 BR    3 BR    4 BR                                                  Construct    Construct Construct Construct Construct      NSP       Acq/Rhb   Acq/Rhb   Acq/Rhb   Acq/Rhb    Rehab       Rehab   Rehab   Rehab   Rehab
                                                        4 BR      Efficiency     1 BR        2 BR        3 BR        4 BR      Efficiency    1 BR       2 BR       3 BR       4 BR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               120%     120%    120%    120%    120%      Effic    1 BR     2 BR     3 BR     4 BR     ion NSP      ion NSP  ion NSP   ion NSP   ion NSP       120%        NSP        NSP      NSP        NSP        NSP        NSP     NSP     NSP     NSP
                                                       Rehab LI    Rehab        Rehab       Rehab       Rehab       Rehab       Rehab        Rehab      Rehab      Rehab      Rehab     0 BR MF    1 BR       2 BR       3 BR       4 BR      SF Det'd   SF Det'd   SF Det'd   SF Det'd   SF Det'd    0 BR       1 BR       2 BR       3 BR       4 BR      Duplex   Duplex   Duplex   Duplex   Duplex   Townhom    Townhom    Townhom    Townhom    Townhom    1-Story   1-Story   1-Story   1-Story     1-Story     2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   3+ Story   3+ Story   3+ Story   3+ Story   3+ Story    NSP      NSP     NSP     NSP     NSP     120%      120%     120%     120%     120%       120%         120%     120%      120%      120%      Acq/Rhb       120%      120%      120%      120%       120%       120%    120%    120%    120%
                                                        Units     Mkt Units    Mkt Units   Mkt Units   Mkt Units   Mkt Units   CS Units     CS Units   CS Units   CS Units   CS Units     Units   MF Units   MF Units   MF Units   MF Units    Units      Units      Units      Units      Units     MH Units   MH Units   MH Units   MH Units   MH Units    Units    Units    Units    Units    Units    e Units    e Units    e Units    e Units    e Units    Units     Units     Units     Units       Units       Units     Units     Units     Units     Units     Wlkp      Wlkp      Wlkp      Wlkp      Wlkp      Units      Units      Units      Units      Units     Units    Units   Units   Units   Units   NSP SF    NSP SF   NSP SF   NSP SF   NSP SF      Units        Units    Units     Units     Units       Units       Units     Units     Units     Units      Units      Units   Units   Units   Units
                                                                                                                                                                                                     8                                                                                                                                                                                                                                                                                                                                                                                                                                   8
                                                                                                                                                                                                                2                                                                                                                                                                                                                                                                                                                                                                                                                                   2
                                                                                                                                                                                                     25                                                                                                                                                                                                                                                                                                                                                                                                                                 25
                                                                                                                                                                                                                28                                                                                                                                                                                                                                                                                                                                                                                                                                 28
                                                                                                                                                                                                                 1                                                                                                                                                                                                                                                                                                                                                                                                                                  1




                                                                                                                                                                                                     33         31                                                                                                                                                                                                                                                                                                                                                                                                                      33         31




d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                                                                                                                                                                                                                                                                                                                                            Part VI-Revenues & Expenses                                                                                                                                                                                                                                                                                                                                                                                                                              81 of 128
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011    Part VI-Revenues & Expenses                           82 of 128
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011    Part VI-Revenues & Expenses                           83 of 128
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011    Part VI-Revenues & Expenses                           84 of 128
  Georgia Department of Community Affairs                                           2011 Funding Application                                                              Office of Affordable Housing
                                         PART SEVEN - OPERATING PRO FORMA - 2011-049 Stratford Court, Winder, Barrow County
I. OPERATING ASSUMPTIONS                                        Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                                 Asset Management Fee Amount                                7,500          Yr 1 Asset Mgt Fee Percentage of EGI:                       2.19%
Expense Growth            3.00%                                 Incentive Management Fee Amount                               -           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           3.00%                                 Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:                        5.00%
Vacancy & Collection Loss 7.00%                                    Expense Growth Rate (3.00%)                                  No --> If Yes, indicate Yr 1 Mgt Fee Amt:
Ancillary Income Limit    2.00%                                    Percent of Effective Gross Income                          Yes --> If Yes, indicate actual percentage:                                5.000%
II. OPERATING PRO FORMA
Year                                      1                2                 3                 4                 5                 6                 7                 8                 9                10
Revenues                           361,620          368,852           376,229           383,754           391,429           399,258           407,243           415,388           423,695           432,169
Ancillary Income                     7,232            7,377             7,525             7,675             7,829             7,985             8,145             8,308             8,474             8,643
Vacancy                            (25,820)         (26,336)          (26,863)          (27,400)          (27,948)          (28,507)          (29,077)          (29,659)          (30,252)          (30,857)
Other Income (OI)                      -                -                 -                 -                 -                 -                 -                 -                 -                 -
OI Not Subject to Mgt Fee              -                -                 -                 -                 -                 -                 -                 -                 -                 -
Expenses less Mgt Fee             (239,340)        (246,520)         (253,916)         (261,533)         (269,379)         (277,461)         (285,784)         (294,358)         (303,189)         (312,284)
Property Mgmt                      (17,152)         (17,495)          (17,845)          (18,201)          (18,565)          (18,937)          (19,316)          (19,702)          (20,096)          (20,498)
Reserves                           (16,000)         (16,480)          (16,974)          (17,484)          (18,008)          (18,548)          (19,105)          (19,678)          (20,268)          (20,876)
NOI                                 70,541           69,398            68,156            66,811            65,357            63,790            62,105            60,299            58,364            56,297
D/S USDA/HUD Mortgage                  -                -                 -                 -                 -                 -                 -                 -                 -                 -
                                       -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage B                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage C                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Other Source                       -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Grant from fdn / charity           -                -                 -                 -                 -                 -                 -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                           (7,500)         (7,725)           (7,957)           (8,195)           (8,441)           (8,695)           (8,955)           (9,224)           (9,501)           (9,786)
DDF                                 (63,041)        (61,673)          (60,199)          (58,616)          (44,167)              -                 -                 -                 -                 -
Incentive Mgmt                          -               -                 -                 -             (11,474)          (49,586)          (47,835)          (45,967)          (43,977)          (41,860)
Cash Flow                                 (0)             0                 0                 (0)           1,275             5,510             5,315             5,107             4,886             4,651
DCR First Mortgage
DCR USDA/HUD Fee
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio                1.26              1.25             1.24              1.22              1.21              1.20              1.19              1.18              1.17              1.16
Mortgage A Balance                      -                 -                -                 -                 -                 -                 -                 -                 -                 -
Mortgage B Balance
Mortgage C Balance
Other Source Balance
Other Source Balance
DDF Balance                        224,655          162,982           102,783            44,167                  -                -                 -                 -                 -                 -


  d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                      Part VII-Pro Forma                                                                                      85 of 128
  Georgia Department of Community Affairs                                           2011 Funding Application                                                              Office of Affordable Housing
                                         PART SEVEN - OPERATING PRO FORMA - 2011-049 Stratford Court, Winder, Barrow County
I. OPERATING ASSUMPTIONS                                        Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                                 Asset Management Fee Amount                                7,500          Yr 1 Asset Mgt Fee Percentage of EGI:                       2.19%
Expense Growth            3.00%                                 Incentive Management Fee Amount                               -           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           3.00%                                 Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:                        5.00%
Vacancy & Collection Loss 7.00%                                    Expense Growth Rate (3.00%)                                  No --> If Yes, indicate Yr 1 Mgt Fee Amt:
Ancillary Income Limit    2.00%                                    Percent of Effective Gross Income                          Yes --> If Yes, indicate actual percentage:                                5.000%
II. OPERATING PRO FORMA
Year                                     11               12                13                14                15                16                17                18                19                20
Revenues                           440,813          449,629           458,622           467,794           477,150           486,693           496,427           506,355           516,482           526,812
Ancillary Income                     8,816            8,993             9,172             9,356             9,543             9,734             9,929            10,127            10,330            10,536
Vacancy                            (31,474)         (32,104)          (32,746)          (33,400)          (34,069)          (34,750)          (35,445)          (36,154)          (36,877)          (37,614)
Other Income (OI)                      -                -                 -                 -                 -                 -                 -                 -                 -                 -
OI Not Subject to Mgt Fee              -                -                 -                 -                 -                 -                 -                 -                 -                 -
Expenses less Mgt Fee             (321,653)        (331,303)         (341,242)         (351,479)         (362,023)         (372,884)         (384,070)         (395,593)         (407,460)         (419,684)
Property Mgmt                      (20,908)         (21,326)          (21,752)          (22,187)          (22,631)          (23,084)          (23,546)          (24,016)          (24,497)          (24,987)
Reserves                           (21,503)         (22,148)          (22,812)          (23,497)          (24,201)          (24,927)          (25,675)          (26,446)          (27,239)          (28,056)
NOI                                 54,091           51,742            49,243            46,587            43,769            40,781            37,619            34,275            30,739            27,007
D/S USDA/HUD Mortgage                  -                -                 -                 -                 -                 -                 -                 -                 -                 -
                                       -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage B                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage C                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Other Source                       -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Grant from fdn / charity           -                -                 -                 -                 -                 -                 -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                          (10,079)        (10,382)          (10,693)          (11,014)          (11,344)          (11,685)          (12,035)          (12,396)          (12,768)          (13,151)
DDF                                     -               -                 -                 -                 -                 -                 -                 -                 -                 -
Incentive Mgmt                      (39,611)        (37,224)          (34,695)          (32,016)          (29,182)          (26,187)          (23,025)          (19,690)          (16,174)          (12,470)
Cash Flow                             4,401           4,136             3,855             3,557             3,242             2,910             2,558             2,188             1,797             1,386
DCR First Mortgage
DCR USDA/HUD Fee
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio                1.15              1.14             1.13              1.12              1.11              1.10              1.09              1.08              1.07              1.06
First Mortgage Balance                  -                 -                -                 -                 -                 -                 -                 -                 -                 -
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                             -                 -                 -                 -                  -                -                 -                 -                 -                 -


  d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                      Part VII-Pro Forma                                                                                      86 of 128
  Georgia Department of Community Affairs                                           2011 Funding Application                                                              Office of Affordable Housing
                                         PART SEVEN - OPERATING PRO FORMA - 2011-049 Stratford Court, Winder, Barrow County
I. OPERATING ASSUMPTIONS                                        Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                                 Asset Management Fee Amount                                7,500          Yr 1 Asset Mgt Fee Percentage of EGI:                       2.19%
Expense Growth            3.00%                                 Incentive Management Fee Amount                               -           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           3.00%                                 Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:                        5.00%
Vacancy & Collection Loss 7.00%                                    Expense Growth Rate (3.00%)                                  No --> If Yes, indicate Yr 1 Mgt Fee Amt:
Ancillary Income Limit    2.00%                                    Percent of Effective Gross Income                          Yes --> If Yes, indicate actual percentage:                                5.000%
II. OPERATING PRO FORMA
Year                                     21               22                23                24                25                26                27                28                29                30
Revenues                           537,348          548,095           559,057           570,238           581,643           593,276           605,141           617,244           629,589           642,181
Ancillary Income                    10,747           10,962            11,181            11,405            11,633            11,866            12,103            12,345            12,592            12,844
Vacancy                            (38,367)         (39,134)          (39,917)          (40,715)          (41,529)          (42,360)          (43,207)          (44,071)          (44,953)          (45,852)
Other Income (OI)                      -                -                 -                 -                 -                 -                 -                 -                 -                 -
OI Not Subject to Mgt Fee              -                -                 -                 -                 -                 -                 -                 -                 -                 -
Expenses less Mgt Fee             (432,275)        (445,243)         (458,600)         (472,358)         (486,529)         (501,125)         (516,159)         (531,643)         (547,593)         (564,020)
Property Mgmt                      (25,486)         (25,996)          (26,516)          (27,046)          (27,587)          (28,139)          (28,702)          (29,276)          (29,861)          (30,459)
Reserves                           (28,898)         (29,765)          (30,658)          (31,577)          (32,525)          (33,500)          (34,505)          (35,541)          (36,607)          (37,705)
NOI                                 23,070           18,920            14,548             9,946             5,106                 17           (5,329)          (10,942)          (16,832)          (23,012)
D/S USDA/HUD Mortgage                  -                -                 -                 -                 -                 -                 -                 -                 -                 -
                                       -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage B                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage C                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Other Source                       -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Grant from fdn / charity           -                -                 -                 -                 -                 -                 -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                          (13,546)        (13,952)          (14,371)          (14,802)          (15,246)          (15,703)          (16,174)          (16,660)          (17,159)          (17,674)
DDF                                     -               -                 -                 -                 -                 -                 -                 -                 -                 -
Incentive Mgmt                       (8,572)         (4,471)             (159)
Cash Flow                               952             497                 18            (4,855)         (10,140)          (15,686)          (21,503)          (27,602)          (33,992)          (40,686)
DCR First Mortgage
DCR USDA/HUD Fee
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio                1.05              1.04             1.03              1.02              1.01              1.00              0.99              0.98              0.97              0.96
First Mortgage Balance                  -                 -                -                 -                 -                 -                 -                 -                 -                 -
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                             -                 -                 -                 -                  -                -                 -                 -                 -                 -


  d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                      Part VII-Pro Forma                                                                                      87 of 128
  Georgia Department of Community Affairs                                           2011 Funding Application                                                           Office of Affordable Housing
                                         PART SEVEN - OPERATING PRO FORMA - 2011-049 Stratford Court, Winder, Barrow County
I. OPERATING ASSUMPTIONS                                        Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                                 Asset Management Fee Amount                                7,500          Yr 1 Asset Mgt Fee Percentage of EGI:                       2.19%
Expense Growth            3.00%                                 Incentive Management Fee Amount                               -           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           3.00%                                 Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:                        5.00%
Vacancy & Collection Loss 7.00%                                    Expense Growth Rate (3.00%)                                  No --> If Yes, indicate Yr 1 Mgt Fee Amt:
Ancillary Income Limit    2.00%                                    Percent of Effective Gross Income                          Yes --> If Yes, indicate actual percentage:                                5.000%
II. OPERATING PRO FORMA
Year                                    31               32                33                34                35
Revenues                           655,025          668,125           681,488           695,117           709,020
Ancillary Income                    13,100           13,363            13,630            13,902            14,180
Vacancy                            (46,769)         (47,704)          (48,658)          (49,631)          (50,624)
Other Income (OI)
OI Not Subject to Mgt Fee
Expenses less Mgt Fee             (580,941)        (598,369)         (616,320)         (634,810)         (653,854)
Property Mgmt                      (31,068)         (31,689)          (32,323)          (32,969)          (33,629)
Reserves                           (38,836)         (40,001)          (41,201)          (42,437)          (43,710)
NOI                                (29,489)         (36,276)          (43,386)          (50,828)          (58,618)
D/S USDA/HUD Mortgage                  -                -                 -                 -                 -
                                       -                -                 -                 -                 -
D/S Mortgage B                         -                -                 -                 -                 -
D/S Mortgage C                         -                -                 -                 -                 -
D/S Other Source                       -                -                 -                 -                 -
D/S Grant from fdn / charity           -                -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                          (18,204)        (18,751)          (19,313)          (19,893)          (20,489)
DDF                                     -               -                 -                 -                 -
Incentive Mgmt                          -               -                 -                 -                 -
Cash Flow                           (47,693)        (55,027)          (62,699)          (70,721)          (79,107)
DCR First Mortgage
DCR USDA/HUD Fee
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio                0.95              0.95             0.94              0.93              0.92
First Mortgage Balance                  -                 -                -                 -                 -
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                             -                 -                 -                 -                  -


  d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                      Part VII-Pro Forma                                                                                      88 of 128
   Georgia Department of Community Affairs                                                           2011 Funding Application                                                        Office of Affordable Housing
                                                    PART SEVEN - OPERATING PRO FORMA - 2011-049 Stratford Court, Winder, Barrow County
I. OPERATING ASSUMPTIONS                                                      Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                                               Asset Management Fee Amount                                7,500          Yr 1 Asset Mgt Fee Percentage of EGI:                       2.19%
Expense Growth            3.00%                                               Incentive Management Fee Amount                               -           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           3.00%                                               Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:                        5.00%
Vacancy & Collection Loss 7.00%                                                  Expense Growth Rate (3.00%)                                  No --> If Yes, indicate Yr 1 Mgt Fee Amt:
Ancillary Income Limit    2.00%                                                  Percent of Effective Gross Income                          Yes --> If Yes, indicate actual percentage:                                5.000%
II. OPERATING PRO FORMA
III. Applicant Comments & Clarifications                                                                                                 IV. DCA Comments

Because this is a no-debt project we are using the operating expense ratio requirement as outlined in the QAP. Our project meets the
DCA requirement of a 1.10 OE ratio for years 1-15.




We have assumed that all cash flow in the early years will be used to pay down the deferred development fee. The equity investors
asset management fee is consistent with the terms of their preliminary commitment and it escalates at 3% per year as outlined in their
commitment.




We have calculated the incentive mangement fee consistent with the terms of the fee outlined in RBC's commitment letter. This fee is
equal to 90% of all net cash flow after payment of the asset management fee and the deferred development fee. There will not be funds
to pay this fee until year 5.




   d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                       Part VII-Pro Forma                                                                                  89 of 128
           Georgia Department of Community Affairs                                                                                2011 Funding Application              Office of Affordable Housing

                                  PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                        Applicant            DCA
                                                                                                                      Response             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
DCA's Comments / Approval Conditions:
1.)

2.)
                                                                                                                                                      Please increase
3.)
                                                                                                                                                      or decrease row
                                                                                                                                                      size as needed.
4.)

5.)

6.)

7.)

8.)

9.)
                                                                                                                                                      Please increase
10.)
                                                                                                                                                      or decrease row
                                                                                                                                                      size as needed.
11.)

12.)

13.)

14.)

15.)

16.)
                                                                                                                                                      Please increase
17.)
                                                                                                                                                      or decrease row
                                                                                                                                                      size as needed.
18.)

19.)

20.)




           d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                     Part VIII-Threshold Criteria                            90 of 128
              Georgia Department of Community Affairs                                                                                                                                          2011 Funding Application               Office of Affordable Housing

                                          PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                                   Applicant               DCA
                                                                                                                                                                                 Response                USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
1   Project Feasibility, Viability Analysis, and Conformance with Plan                                                                                                           Pass?

      A. Are any commitments submitted as “Under Consideration” which need final approval before July 29, 2011?                                                                     A)       No
      B. If yes, then state the applicable financial assistance/funding:                                                     << Select >>
      Applicant's comments regarding this section of Threshold:
All required preliminary financing commitments are in place with SunTrust Community Capital for construction debt financing and with RBC Capital Markets for equity financing.
                                                                                                                                                                                                                    Row size may be
Please see tab 5 for the financing commitments.
                                                                                                                                                                                                                      increased.
    DCA's Comments:

                                                                                                                                                                                                                    Row size may be
                                                                                                                                                                                                                      increased.



2   Tenancy Characteristics                                                                                                                                                      Pass?

       This project is designated as:                                                                        Senior (Elderly)                                                               Yes
    Applicant's comments regarding this section of Threshold:                                                  DCA's Comments:


3   Required Services                                                                                                                                                            Pass?

     A. Applicants certify that all selected services will meet QAP policies. Does Applicant agree?                                                                                            Agree
     B. Specify below at least 1 basic ongoing service from categories listed in QAP for Family projects, or at least 2 basic ongoing services from categories listed in QAP for Senior projects:
          1) Social and recreational programs planned and overseen by project mgr                                                                                                       1)      Yes
          2) Semi-monthly classes conducted on site                                                                                                                                     2)      Yes
          3) Other service approved by DCA                                                                                 3) N/A
     Applicant's comments regarding this section of Threshold:
The Applicant has relationships with a number of supportive service providers in the area who can/will provide services to our residents. Norsouth Management Company will also provide a number
of social and recreational programs at the property.
     DCA's Comments:




              d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                                Part VIII-Threshold Criteria                            91 of 128
               Georgia Department of Community Affairs                                                                                                                                           2011 Funding Application          Office of Affordable Housing

                                              PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                                   Applicant                    DCA
                                                                                                                                                                                 Response                     USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
4    Market Feasibility                                                                                                                                                          Pass?

     A. Provide the name of the market study analyst used by applicant:                                                                      A. Real Property Research Group
     B. Project absorption period to reach stabilized occupancy                                                                              B. 8 units per month
     C. Stabilization period                                                                                                                C. 8 months
     D. Overall capture rate for credit units                                                                                               D. 19.80%
     E. List DCA tax credit projects (inside a 2-mile radius for urban or, for rural, the greater of a 10-mile radius or the local
                                                                                                                                                                                     E.       Yes
        jurisdiction) for years 2008 - 2010. Include both DCA project number and project name in each case.
              Project Nbr Project Name                                  Project Nbr Project Name                                   Project Nbr Project Name
          1 2010-059 Farmington Hills (family)                       4                                                           7
          2                                                          5                                                           8
          3                                                          6                                                           9
     F. Does the unit mix/rents and amenities included in the application match those provided in the market study?                                                                  F.       Yes
    Applicant's comments regarding this section of Threshold:
Because there are no senior LIHTC communities in the primary market area, the proposed units will fill a void for affordable senior housing in the City of Winder and Barrow County.

The DCA tax credit project funded in 2010 is designated for family tenancy and therefore neither project will compete for tenants in this market.

     DCA's Comments:




5    Appraisals                                                                                                                                                                  Pass?

     A. Is there is an identity of interest between the buyer and seller of the project?                                                                                              A.       No
     B. Is an appraisal included in this application submission?                                                                                                                      B.       No
             If an appraisal is included, indicate Appraiser's Name and answer the following questions:           Appraiser's Name:
         1) Does it include the “as is” value, "as built/as complete" (encumbered), "as built/ as complete" (unencumbered) values of the proposed subject property and                1)
             tax credit value?
         2) Does the “as is” value delineate the value of the land and building?                                                                                                    2)
         3) Does the total hard cost of the project exceed 90% of the as completed unencumbered appraised value of the property?                                                    3)
     C. If an identity of interest exists between the buyer and seller, did the seller purchase this property within the past three (3) years?                                      C.
     D. Has the property been:
         1) Rezoned?                                                                                                                                                                1)        Yes
         2) Subdivided?                                                                                                                                                             2)        Yes
         3) Modified?                                                                                                                                                               3)         No
    Applicant's comments regarding this section of Threshold:
Please see evidence of the site rezoning in tab 14. The property has been approved for subdivision by the Winder City Council, however, the plat has not been recorded at this time. It is anticipated that
this will occur at some time prior to site acquisition if tax credits are awarded.
     DCA's Comments:




               d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                                 Part VIII-Threshold Criteria                       92 of 128
              Georgia Department of Community Affairs                                                                                                                                 2011 Funding Application               Office of Affordable Housing

                                           PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                            Applicant             DCA
                                                                                                                                                                          Response              USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
6   Environmental Requirements                                                                                                                                            Pass?

     A. Name of Consultant that prepared the Phase I Assessment:                                                                          A. One Consulting Group, Inc.
     B. Is a Phase II Environmental Report included?                                                                                                                         B.    No
     C. Was a Noise Assessment performed?                                                                                                                                    C.   Yes
        1) If "Yes", provide the maximum noise level on site in decibels:                                                                                                         61.2
        If "Yes", what are the contributing factors in decreasing order of magnitude?
        Jefferson Highway
     D. Is the subject property located in a:                                                                                                                                D.
         1) Brownfield?                                                                                                                                                      1)   No
         2) 100 year flood plain / floodway?                                                                                                                                 2)   No
             If "Yes", percentage of site that is within a floodplain:
             If "Yes", will any development occur in the floodplain?
                 If "Yes", is documentation provided as per Threshold criteria?
         3) Wetlands?                                                                                                                                                        3)   No
             If "Yes", enter the percentage of the site that is a wetlands:
             If "Yes", will any development occur in the wetlands?
                 If "Yes", is documentation provided as per Threshold criteria?
         4) State Waters/Streams area?                                                                                                                                       4)   No
     E. Has the Environmental Professional identified any of the following on the subject property:                                                                          E.   No
         1) Asbestos?                             No                             3) PCB's?            No                                  5) Lead in water        No
         2) Lead-based paint?                     No                             4) Mold?             No                                  6) Radon?               No
         7) Other (e.g., endangered species, Native American burial grounds, etc.):               N/A
     F. Is all additional environmental documentation required for a HOME application included?                                                                              F.   N/A
         1) Eight-Step Process for Wetlands and/or Floodplains required?                                                                                                     1)
         2) Has Applicant/PE completed the HOME and HUD Environmental Questionnaire?                                                                                         2)
         3) Owner agrees that they must refrain from undertaking any activities that could have an adverse effect on the subject property?                                   3)
     G. If HUD approval has been previously granted, has the HUD Form 4128 been included?                                                                                    G.   N/A
     Applicant's comments regarding this section of Threshold:
There were no adverse environmental conditions recognized either on-site or off-site at this property. The PE conclusion is that there is no further study required.
                                                                                                                                                                                                           Row size may be
This application does not include HOME funding so the items in section F and G are not applicable.
                                                                                                                                                                                                             increased.
    DCA's Comments:
                                                                                                                                                                                                           Row size may be
                                                                                                                                                                                                             increased.




              d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                       Part VIII-Threshold Criteria                            93 of 128
              Georgia Department of Community Affairs                                                                                                                                  2011 Funding Application         Office of Affordable Housing

                                          PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                             Applicant            DCA
                                                                                                                                                                           Response             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
7   Site Control                                                                                                                                                           Pass?
    A. Is site control provided through October 31, 2011?                                                                                                                     A.   Yes
    B. Form of site control:                                                                                                                         B. Contract/Option
    C. Name of Entity with site control:                                                                     C.                          Stratford Court, L.P.                     Yes
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:



8   Site Access                                                                                                                                                            Pass?
      A. Is this site legally accessible by paved roads and are drawings or photographs included showing these roads?                                                         A.   Yes
      B. If access roads are not in place, does the application contain documentation evidencing a local commitment for the funding and the timetable for the completion      B.
         of such paved roads?
     Applicant's comments regarding this section of Threshold:
8-B is not applicable

    DCA's Comments:



9   Site Zoning                                                                                                                                                            Pass?
     A. Is Zoning in place at the time of this application submission?                                                                                                        A.   Yes
     B. Is Zoning conformance in writing by the authorized Local Government official, and includes the zoning & land use classifications?                                     B.   Yes
     C. Is documentation provided that demonstrates that the site layout conforms to any moratoriums, density, setbacks or other requirements?                                C.   Yes
     D. Is this information included on the Architectural Site Conceptual Development Plan?                                                                                   D.   Yes
     E. Are all issues and questions surrounding the zoning and land use classification clearly defined prior to this application submission?                                 E.   Yes
    Applicant's comments regarding this section of Threshold:
Please see tab 14 for evidence of site zoning.

    DCA's Comments:



10 Operating Utilities                                                                                                                                                     Pass?
     A. Check applicable utilities and enter provider name:                     1) Gas            N/A                                                                         1)   No
                                                                                2) Electric       Georgia Power                                                               2)   Yes
    Applicant's comments regarding this section of Threshold:
Property will be all electric therefore gas is not applicable.
    DCA's Comments:




              d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                       Part VIII-Threshold Criteria                       94 of 128
              Georgia Department of Community Affairs                                                                                                                                              2011 Funding Application                Office of Affordable Housing

                                           PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                                      Applicant                 DCA
                                                                                                                                                                                    Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
11 Public Water/Sanitary Sewer/Storm Sewer                                                                                                                                          Pass?

      A. 1) Is there a Waiver Approval Letter From DCA included in this application for this criterion as it pertains to single-family detached Rural projects?                        A1)        No
          2) If Yes, is the waiver request accompanied by an engineering report confirming the availability of water and the percolation of the soil?                                   2)
      B. Check all that are available to the site and enter provider             1) Public water City of Winder                                                                        B1)       Yes
          name:                                                                  2) Public sewer City of Winder                                                                         2)       Yes
     Applicant's comments regarding this section of Threshold:
As stated in the Purchase Agreement, the Seller will extend domestic water and sanitary sewer utilities to the boundary of the site at a minimum of 45 days prior to closing. All work will be performed within the
public right of way, therefore there are no easements required to complete this work. Please see tab 15 for further clarification of this issue.
     DCA's Comments:


12 Local Government Support and Community Engagement                                                                                                                                Pass?
    Does documentation include:
     A. Evidence of public meetings regarding the proposed project to local government and residents of the community?                                                                  A.       Yes
     B. Evidence of presentations regarding the proposed project to local government and residents of the community?                                                                    B.       Yes
     C. Resolutions of support from local government officials?                                                                                                                         C.       No
     D. Letters of support from local government officials?                                                                                                                             D.       Yes
    Applicant's comments regarding this section of Threshold:
Please see the evidence of public meetings and presentations provided in tab 16. A letter of support from Mayor George "Chip" Thompson III is also included in tab 16.
                                                                                                                                                                                                                         Row size may be
                                                                                                                                                                                                                           increased.
    DCA's Comments:




13 Required Amenities                                                                                                                                                               Pass?
    Is there a Pre-Approval Form from DCA included in this application for this criterion?                                                                                                       No
     A. Applicant agrees to provide the following required Standard Site Amenities in conformance with the DCA Amenities Guidebook (select one in each category):
         1) Community area (select either community room or community building):                                       A1) Building                                                            Agree
         2) Exterior gathering area (if "Other" is selected, applicant must explain in Comments Section below):        A2) Gazebo                                                              Agree
         3) On site laundry type:                                                                                      A3) On-site laundry                                                     Agree
     B. Applicant agrees to provide the following required Additional Site Amenities to conform with the DCA Amenities Guidebook.                                               B.    Agree
        The nbr of amenities required depends on the total unit count: 1-125 units = 2 amenities, 126+ units = 4 amenities;                                                           Additional Amenities
           Additional Amenities (describe in space provided below)                 Guidebook Met? DCA Pre-approved?      Additional Amenities (describe in space provided below) Guidebook Met? DCA Pre-approved?
        1) Fitness Center                                                                                            3)
        2) Library with computer stations                                                                            4)
     C. Applicant agrees to provide the following required Unit Amenities:                                                                                                              C.     Agree
        1) HVAC                                                                                                                                                                         1)      Yes
        2) Refrigerator (Energy Star rated)                                                                                                                                             2)      Yes
        3) Dishwasher (Energy Star rated)                                                                                                                                               3)      Yes
        4) Stove                                                                                                                                                                        4)      Yes
        5) a. Powder-based stovetop fire suppression canisters installed above the range cook top, OR                                                                                  5a)      Yes
           b. Electronically controlled solid cover plates over stove top burners                                                                                                      5b)      No




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              Georgia Department of Community Affairs                                                                                                                                       2011 Funding Application                Office of Affordable Housing

                                          PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                               Applicant                 DCA
                                                                                                                                                                             Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
      D. Applicant agrees to provide the following additional required Amenities for Senior projects:                                                                           D.      Agree
          1) Elevators are installed for access to all units above the ground floor.                                                                                            1)       Yes
          2) Buildings more than two story construction have interior furnished gathering areas in several locations in the lobbies and/or corridors                            2)       Yes
          3) a. 100% of the units are accessible and adaptable, as defined by the Fair Housing Amendments Act of1988                                                           3a)       Yes
              b. If No, was a DCA Architectural Standards waiver granted?                                                                                                      3b)
      Applicant's comments regarding this section of Threshold:
All required amenities are documented on the conceptual site development plan in tab 18. A DCA Architectual Standards waiver was not required or requested therefore question 3b is not applicable.
                                                                                                                                                                                                                  Row size may be
    DCA's Comments:                                                                                                                                                                                                 increased.


14 Rehabilitation Standards (Rehabilitation Projects Only)                                                                                                                   Pass?

     A.   Type of rehab (choose one):                                                                                                    A. <<Select>>                                 <<Select>>
     B.   Date of PNA:                                                                                                                   B.
     C.   Name of consultant preparing PNA:                                                                                              C.
     D.   Is 20-year replacement reserve study included?                                                                                                                          D.
     E.   Applicant understands that in addition to propose work scope, the project must meet state and local building codes, DCA architectural                                   E.
          requirements as set forth in the QAP and Manuals, and health and safety codes and requirements. Applicant agrees?
     Applicant's comments regarding this section of Threshold:
This is a new construction project therefore this section is not applicable.
                                                                                                                                                                                                                  Row size may be
                                                                                                                                                                                                                    increased.
    DCA's Comments:




15 Site Information and Conceptual Site Development Plan                                                                                                                     Pass?

     A. Is the Conceptual Site Development Plan included in this application and has it been prepared in accordance with instructions set forth in the Manual?                    A.      Yes
     B. Are all site related amenities required and selected in this application indicated on the Conceptual Site Development Plan?                                               B.      Yes
    Applicant's comments regarding this section of Threshold:
Please see tab 18 for the site information and conceptual site development plan.
                                                                                                                                                                                                                  Row size may be
                                                                                                                                                                                                                    increased.
    DCA's Comments:




              d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                              Part VIII-Threshold Criteria                            96 of 128
               Georgia Department of Community Affairs                                                                                                                                               2011 Funding Application                Office of Affordable Housing

                                            PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                                        Applicant                 DCA
                                                                                                                                                                                      Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
16 Building Sustainability                                                                                                                                                           Pass?

     A. Applicant agrees that this proposed property must achieve a minimum standard for energy efficiency and sustainable building practices upon construction                           A.
        completionas set forth in the QAP and Manual?.                                                                                                                                           Agree

     B. Applicant agrees that the final construction documents must clearly indicate all components of the building envelope and all materials and equipment that meet                    B.
        the requirements set forth in the QAP and Architectural Manual?.                                                                                                                         Agree

     C. For 4% credit projects, applicant agrees that the project must also include additional sustainability items as outlined in the Exhibit A to Appendix I Building                     B.
         Sustainability Certification, and that the Building Sustainability Certification must be submitted with the Step II architectural documents submission detailing how
         the minimum standard will be achieved?
    Applicant's comments regarding this section of Threshold:
The project will qualify for EarthCraft multifamiliy certification as evidenced by the project scoresheet included in tab 29 and as such will meet or exceed all DCA building sustainability requirements.
                                                                                                                                                                                                                           Row size may be
This is a 9% credit project therefore 16-C is not applicable.
                                                                                                                                                                                                                             increased.
    DCA's Comments:




17 Accessibility Standards                                                                                                                                                           Pass?
     A. Does this project comply with all applicable Federal and State accessibility laws including but not limited to The Fair Housing Act, Section 504,                                 A.       Yes
        American with Disabilities Act, Georgia Fair Housing Law and Georgia Access Law?
     B. Does this project comply with applicable DCA accessibility requirements detailed in the Accessibility Manual of the 2011 Application Manual?                                      B.       Yes
     C. Are at least 5% of the total units equipped for the mobility disabled, including wheelchair restricted residents, and at least 2% of the total units (to be part of this
                                                                                                                                                                                          C.       Yes
        5%) are equipped with roll-in showers?
     D. Are at least an additional 2% of the total units equipped for hearing and sight-impaired residents?                                                                               D.       Yes
     E. Applicant agrees to arrange for the preconstruction plan review and inspection of the project by a DCA-qualified consultant 3 times during construction in order
                                                                                                                                                                                          E.       Yes
        to certify the project's as-built compliance with accessibility regulations?
    Applicant's comments regarding this section of Threshold:
                                                                                                                                                                                                                           Row size may be
    DCA's Comments:                                                                                                                                                                                                          increased.




               d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                                      Part VIII-Threshold Criteria                            97 of 128
              Georgia Department of Community Affairs                                                                                                                                             2011 Funding Application                  Office of Affordable Housing

                                           PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                                     Applicant                 DCA
                                                                                                                                                                                   Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
18 Architectural Design & Quality Standards                                                                                                                                        Pass?
    Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                                                 No
    Does this application meet the Architectural Standards contained in the Application Manual for quality and longevity?                                                                       Yes
     A. Constructed and Rehabilitation Construction Hard Costs - are the following minimum review standards for rehabilitation projects met or exceeded by this project?
         Rehabilitation projects will be considered for funding only if the per unit rehabilitation hard costs exceed $25,000 for properties less than 20 years old and the             A.
         per unit rehabilitation hard costs exceed $30,000 for properties that exceed 20 years old. The costs of furniture, fixtures, construction of community buildings
         and common area amenities are not included in these amounts.
     B. Standard Design Options for All Projects                                                                                                                                        B.      Yes
         1) Exterior Wall Finishes (select one)         Exterior wall faces will have an excess of 40% brick or stone on each total wall surface                                        1)      Yes

         2) Attractive Features (select two)            Addition of or the redesign of existing covered entries                                                                         2)      Yes
                                                        Addition of new or redesign of existing durable attractive stair and railing elements                                                   Yes
         3) Major Bldg Component Materials &            Upgraded roofing shingles, or roofing materials                                                                                 3)      Yes
            Upgrades (select one)
         4) Landscaping and Site Design Features        Substantial replanting of trees and integrated vegetation                                                                       4)      Yes
            (select two)                                Site entry w/ permanent, illuminated entry sign and decorative fence                                                                    Yes
    Applicant's comments regarding this section of Threshold:
Please see the conceptual site development plan in tab 18 for evidence of all the architectual design and quality standards. This is a new construction project therefore item 18-A is not applicable.                    Row size may be
                                                                                                                                                                                                                            increased.
    DCA's Comments:



19 Qualifications for Project Participants (Performance)                                                                                                                           Pass?

    Is there a pre-application Qualification of Project Participants Determination from DCA included in this application for this criterion?                                                    Yes
    Has there been any change in the Project Team since the initial pre-application submission?                                                                                                 No
    DCA's pre-application Qualification of Project's Participants Determination indicated a status of (select one):              Qualified without Conditions                                   Yes
    DCA Final Determination
    Applicant's comments regarding this section of Threshold:

                                                                                                                                                                                                                        Row size may be
                                                                                                                                                                                                                          increased.
    DCA's Comments:




              d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                                    Part VIII-Threshold Criteria                              98 of 128
              Georgia Department of Community Affairs                                                                                                                                      2011 Funding Application            Office of Affordable Housing

                                            PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                              Applicant                  DCA
                                                                                                                                                                            Response                   USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
20 Compliance History Summary                                                                                                                                               Pass?

     A. Has the principal and entities of each General Partner, Developer, Management Company and Project Consultant(s) submitted a complete and correct DCA                    A.
                                                                                                                                                                                          Yes
        Compliance History Summary Form?
     B. Are five fully executed DCA Uniform Release Forms included in the application?                                                                                          B.        No
     C. Is the completed compliance questionnaire for each General Partner, Developer, and project consultant(s) included in the application?                                  C.         Yes
     D. Has Applicant included appropriate documentation or releases from other state housing agencies (both the MultiState Release Form and the Uniform Release               D.
                                                                                                                                                                                          Yes
        Form)?
    Applicant's comments regarding this section of Threshold:
20-B - The Uniform Release forms are not required for this submission because the other state housing agencies have responded to the Multistate Release Forms that were previously sent
by Norsouth. Evidence of these responses is provided by the DCA authorization release chart provided in tab 38.
    DCA's Comments:




21 Eligibility for Credit under the Nonprofit Set-Aside                                                                                                                     Pass?
     A. Name of Qualified Nonprofit:                                                                             A.
     B. Is the organization a qualified nonprofit, defined as a 501c(3) or 501c(4) organization not affiliated or controlled by a for-profit organization, and                  B.
        whose tax-exempt purpose is the fostering of low-income housing?
     C. Does the qualified nonprofit materially participate in the project as described in IRC Section 469(h)?                                                                 C.
     D. Does the qualified nonprofit own at least 51% of the GP's interest in the project and is the managing general partner of the ownership entity?                         D.
     E. If the nonprofit is also a developer of the project, does the nonprofit receive a percentage of the developer fee greater than or equal to its percentage of its       E.
        ownership interest?
      F. Is a copy of the GP joint venture agreement that indicates nonprofit's general partnership interest and developer fee amount included in application?                  F.
     Applicant's comments regarding this section of Threshold:
This section is not applicable for this project.
     DCA's Comments:


22 Eligibility for HOME Loans under the CHDO Set-Aside*                                                                                                                     Pass?
     A.  Name of CHDO:                                                                                       A.
     B.  Is a copy of the State CHDO pre-qualification/renewal letter included in the Application?                                                                             B.
     C.  Is the CHDO either the sole general partner of the ownership entity or the managing general partner of the ownership entity?                                          C.
     D.  If the CHDO is a general partner with a for-profit or nonprofit general partner, does the CHDO own at least 51% of the general partnership interest?                  D.
     E.  Does the CHDO (or a wholly owned or controlled affiliate) receive a percentage of the Developer Fee greater than or equal to the percentage of ownership              E.
         interest?
      F. Is a copy of the GP/joint venture agreement indicating CHDO’s GP interest and its share (or the share of the wholly owned and controlled affiliate) of Developer       F.
         Fee included in Application?
     G. Do all parties understand that the CHDO must exercise effective control of the partnership throughout the period of affordability?                                     G.
     Applicant's comments regarding this section of Threshold:
This section is not applicable for this project.
     DCA's Comments:




              d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                              Part VIII-Threshold Criteria                       99 of 128
              Georgia Department of Community Affairs                                                                                                                                           2011 Funding Application                  Office of Affordable Housing

                                            PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                                     Applicant                 DCA
                                                                                                                                                                                   Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
23 Additional Reporting Requirements                                                                                                                                               Pass?
     A. The Census Tract for the property is characterized as [Choose either Minority concentration (50% or more minority), Racially                      A.          Non-minority               <<Select>>
         mixed (25% - 49% minority), or Non-minority (less than 25% minority)]:
     B. List all contiguous Census Tracts:                        B. 1801.01,1802.01,1802.02,1804,107,101                                                                                     Yes
     C. Is Contract Addendum included in Application?                                                                                                                                   C.    No
    Applicant's comments regarding this section of Threshold:
Since there is no HUD financing contemplated for this project, additional HUD reporting is not required, however the census tract information for this site is provided in the boxes above.
                                                                                                                                                                                                                        Row size may be
    DCA's Comments:
                                                                                                                                                                                                                          increased.


24 Required Legal Opinions                State legal opinions included in application using boxes provided.                                                                       Pass?
     A. Credit Eligibilty for Acquisition                                                                                                                                               A.     No
     B. Credit Eligibilty for Assisted Living                                                                                                                                           B.     No
    C. Nonprofit Federal Tax Exempt Status                                                                                                                                              C.     No
    D. Accessibility Standards                                                                                                                                                          D.     No
     E. Other (If Yes, then also describe):                   E.                                                                                                                               No
    Applicant's comments regarding this section of Threshold:
No additional legal opinions are required for this project.
    DCA's Comments:


25 Georgia Housing Search                                                                                                                                                          Pass?
     A. Applicant agrees that if Application is selected for funding, then the Applicant will list all of its existing developments in the Georgia Housing Search within six            A.
                                                                                                                                                                                              Agree
        months of selection. I agree.
    B. Has Applicant registered all available affordable Housing Units previously funded by DCA on the Georgia Housing Search website?                                                  B.    Yes
    Applicant's comments regarding this section of Threshold:                                                DCA's Comments:




              d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                                    Part VIII-Threshold Criteria                           100 of 128
               Georgia Department of Community Affairs                                                                                                                                2011 Funding Application                Office of Affordable Housing

                                            PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                            Applicant              DCA
                                                                                                                                                                          Response               USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
26 Relocation and Displacement of Tenants                                                                                                                                 Pass?
     A. Does the Applicant anticipate displacing or relocating any tenants?                                                                                                  A.    No
     B. 1) Are any of the sources other than DCA HOME considered to be Federal Funding?                                                                                     B1)
        If Yes, applicant will need to check with the source of these funds to determine if this project will trigger the Uniform Relocation Act or 104(d).
        2) Will any funding source used trigger the Uniform Relocation Act or HUD 104 (d) requirements?                                                                      2)
     C. Is sufficient comparable replacement housing identified in the relocation plan according to DCA relocation requirements?                                             C.
     D. Provide summary data collected from Relocation Displacement Spreadsheet:                                                                                             D.
        1) Number of Over Income Tenants                                                                                                                                     1)
        2) Number of Rent Burdened Tenants                                                                                                                                   2)
        3) Number of Vacancies                                                                                                                                               3)
        4) Number of Down units                                                                                                                                              4)
        5) Number of Displaced Tenants                                                                                                                                       5)
     E. Indicate Proposed Advisory Services to be used (see Relocation Manual for further explanation):                                                                      E.
          1) Individual interviews                                                                                                                                           1)
          2) Meetings                                                                                                                                                        2)
          3) Written Notifications                                                                                                                                           3)
          4) Other - describe in box provided:                       4)
     Applicant's comments regarding this section of Threshold:
This is a new construction project, therefore there will be no displacement or relocation of tenants in this project. This section is not applicable.

     DCA's Comments:




27 Marketing to Populations with Disabilities or the Homeless                                                                                                             Pass?
     A. If selected, the Applicant agrees to prepare and submit a Marketing Plan outlining how the project will market units to tenants with special needs?                  A.   Agree
     B. If selected, the Applicant agrees to provide reasonable accommodation for these tenants in the Property Management’s tenant application?                             B.   Agree
     C. If selected, the Applicant agrees to designate these populations as having priority for units with rental assistance if allowable under their rental assistance      C.   Agree
        agreements?
      Applicant's comments regarding this section of Threshold:
If selected, the applicant agrees to market the populations with disabilities or the homeless as referenced above and as requried by the QAP.
                                                                                                                                                                                                            Row size may be
The applicant has provided a preliminary marketing plan in tab 23 that addresses each of the items referenced above and in the application checklist.
                                                                                                                                                                                                              increased.
     DCA's Comments:




               d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                       Part VIII-Threshold Criteria                           101 of 128
              Georgia Department of Community Affairs                                                                                                                                              2011 Funding Application               Office of Affordable Housing

                                           PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                                                                      Applicant                 DCA
                                                                                                                                                                                    Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
28 Optimal Utilization of Resources                                                                                                                                                 Pass?
      Applicant's comments regarding this section of Threshold:
We believe that this project meets DCA's optimal utilization of resources threshold because in addition to having total development costs that are well below the maximum per unit cost limits this project
                                                                                                                                                                                                                        Row size may be
will provide much needed affordable rental housing for seniors in a market area that has no similar newly constructed age restricted affordable housing.
      DCA's Comments:                                                                                                                                                                                                     increased.




    C. Viability Analysis                                                                                                                                                    C.
                                                                                                                                                                             1)
       1) Has a sensitivity analysis been conducted for the project to determine the affect of slow lease up or reduced rents on the viability of the project? If Yes, attach.
       2) What percentage of the Developer’s Fee is deferred (to confirm that it is not over 50%)?                                                                           2)
       3) Does the Debt Coverage Ratio fall below the DCA minimum within the first 15 years for the proposed project?                                                        3)
       4) What percentage of the funding sources is cash flow debt?                                                                                                          4)
       5) Are the tax credit rents set at 95% of the allowed maximum rent under the Tax Credit Program?                                                                      5)
       6) Does the vacancy and collection rate reflect the higher of 7% or the actual market vacancy and collection loss for similar properties?                             6)
       7) What is the projected repairs cost per unit in the application?                                                                                                    7)
       8) What is the projected repairs cost for the common area?                                                                                                            8)
       9) Are replacement reserves based on a Physical Needs Assessment or the minimum?                                                                                      9)
       10) a) Does the Operating Deficit Reserve exceed the minimum?                                                                                                         10a)
       10) b) If yes, why?
       11) Is the PBRA contract for at least 10 years?                                                                                                                       11)
       12) What is the cash flow to operating expense ratio?                                                                                                                 12)
       13) Please provide the basis for projected expenses:           <<Select>>                                                                                             13)



         (Select a unit amenity from options provided here)                                         (Select an amenity from options provided here)
         Microwave Oven in every unit                                                               <<Select>>
         In-sink disposal in every unit                                     Arts & Crafts / Activity Center
         Built in dishwasher in every unit                                  Attractively fenced community gardens
         Installed call system in all units                                 Baseball Field
         High-speed internet access No Cost                                 Beauty Parlor
         High-speed internet access Low Cost                                Complete built-in fire sprinkler system
                                                                            Covered pavilion w/ picnic/barbecue facilities
         <<Select>>                                                         Equipped Computer Center
         Construction of on-site access road req'd for property access      Equipped Playground
         Construction of off-site access road req'd for property access     Equipped soccer field
         Development of parks on a master plan development site             Equipped walking path w/exercise stations or sitting areas
         Development of green space on a master plan development site       Furnished Exercise/Fitness Center
         Development of walking trails on a master plan development site    Furnished Library
         Development of YMCA center                                         Movie Theater
         Development of youth center                                        Putting Green
         Development of senior center                                       Shuffleboard Court
         Construction of sidewalks adjacent to the property                 Swimming Pool
         Construction of streetscape adjacent to the property               Tennis court
         Construction of sidewalks and streetscape adjacent to the property Wellness Center
         Other (See comments)



         Additional Required Project Amenities for 4% Tax Credit Projects
         <<Select>>
         Microwave Oven in every unit
         In-sink disposal in every unit
         Built in dishwasher in every unit
         Installed call system in all units, including a buzzer and light to the exterior
         High-speed internet access
         Attractively fenced community gardens
         Equipped soccer field
         Tennis court
         Equipped walking path with exercise stations or sitting areas
         Retention pond / fountain
         Equipped playground
         Covered pavilion with picnic/barbecue facilities to encourage community or family reunion type functions
         Furnished Children’s Activity center
         Furnished Library
         Equipped Computer Center
         Furnished Exercise/Fitness Center
         Furnished sitting areas by elevators
         Swimming Pool
         Complete built-in fire sprinkler system in every unit and the community center, including an exterior audio and visual alarm system

              d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                                                                    Part VIII-Threshold Criteria                           102 of 128
        Georgia Department of Community Affairs                                                                                                     2011 Funding Application                                                                                                                  Office of Affordable Housing

                               PART EIGHT - THRESHOLD CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
Preliminary Rating: Incomplete                                                                                                          Applicant             DCA
                                                                                                                                        Response              USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)



    Energy Standards
    (Select an energy standard from options provided here)
    EPA Energy Star Program construction and certification:
    Southface Energy Institute's Earth Craft House construction and certification
    US Green Building Council's LEED For Homes construction and certification
    Enterprise Foundation's Green Communities standard of construction and certification
    Locate HVAC ductwork in conditioned spaces
    Exterior envelope wall systems, including the rim (band) joist spaces, to be insulated
    Attic insulation to R-38
    ARI rated furnace (90% AFUE) or heat pump (HSPF 8.0 for both HP 2 ton and HP 1.5 ton units)
    ARI rated SEER 14 cooling equipment with sensible heat ratio less than 0.75
    Locate HVAC ductwork in conditioned spaces
    Installation of at least two plumbing fixture types having lower flow rates than NEPA standards
    Installation of Energystar “Advanced Lighting Package” throughout the property
    HVAC system designed for controlled introduction of outside air per ASHRAE 62.2
    Installation of common area lighting with Energystar rating and controlled with either photocells or timers
    Combustion equipment isolated in a sealed combustion closet that is vented from outside building envelope
                                                                                       damper
    Kitchen range hood ventilation to be ducted to the exterior and equipped with a Major Bldg Component Materials & Upgrades
    Energystar ceiling fans in living rooms, sunrooms and all bedrooms                <<Select materials>>
    Energystar bath exhaust fan with timer and humidistat control                     Fiber cement siding, hard stucco and/or wood siding will be installed on all exterior wall surfaces not already required to be brick
    Front Loading washers in Community Laundry                                        Upgraded roofing shingles, or roofing materials
                                                                                      Interior package upgrade
    Landscaping and Site Design Features                                              Exterior Wall Finishes and Major Building Component Materials and Upgrades
    <<Select landscaping or site design feature>>                                     <<Select exterior material /finish upgrade choice from options provided here>>
    Preservation of existing trees and vegetation                                     Exterior wall faces will have an excess of 40% brick or stone on each total wall surface
    Substantial replanting of trees and integrated vegetation                         Rehab of bldgs eligible for historic preservation credits will maintain or replace w/matching materials, the existing/original exterior finish surfaces
    Site entry w/ permanent, illuminated entry sign and decorative fence              Rehab of bldgs w/out existing brick/stone over 40% (& ineligible for historic credits) will replace & upgrade existing exterior finish surfaces on all wall faces w/brick or product w/40 yr warranty
    Freestanding shelters                                                             For single story buildings, the total building envelope will have 35% minimum brick coverage; remaining 65% will be fiber cement siding or stucco
                                                                                      Attractive Features
                                                                                      <<Select attractive features>>
                                                                                      Recreation of existing or missing known historic decorative elements
                                                                                      Addition of decorative elements
                                                                                      Addition of or the redesign of existing covered entries
                                                                                      Addition of new or redesign of existing durable attractive stair and railing elements

    Unit Amenities                                                                       Site Amenities
    (Select an amenity from options provided here)                                       (Select an amenity from options provided here)
    Microwave Oven in every unit                                                         Attractively fenced community gardens
    In-sink disposal in every unit                                                       Equipped play court (basketball, volleyball, shuffleboard or tennis) as appropriate
    Built in dishwasher in every unit                                                    Equipped walking path with exercise stations or sitting areas
    Washer/dryer hookups in all units in addition to required central laundry            Picnic area equipped with adequate picnic tables and grills
                                                                                         Equipped playground (Must include minimum of three different pieces of equipment)
    Washers and dryers are installed and maintained in every unit at no additional cost to tenants
                                                                                         Tot lot (fenced and equipped
    Installed call system in all units, including a buzzer and light to the exterior (basic amenity for senior projects)with a minimum of three pieces of equipment)
    High-speed internet access (see QAP requirements)                                    Large open playing fields (of at least 5,000 square feet) (Family projects only)
                                                                                         Covered pavilion with picnic/barbecue facilities to encourage community or family reunion type functions
                                                                                         Furnished Children’s Activity center (must have furnishings, TV, educational media and recreational equipment)
                                                                                         Furnished Library (must include sitting areas, tables, periodicals, adequate reference materials)
                                                                                         Equipped Computer Center (must have high-speed internet access for every computer, and one computer and printer for every 25 units)
                                                                                         Swimming Pool
                                                                                         Furnished Exercise/Fitness Center
                                                                                         Complete built-in fire sprinkler system in every unit and the community center, including an exterior audio and visual alarm system

      Additional Requirements and Amenities for Senior projects




        d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                           Part VIII-Threshold Criteria                                                                                                                              103 of 128
            Georgia Department of Community Affairs                                                                        2011 Funding Application                                                                        Office of Affordable Housing
                                                 PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                                                                            Score         Self DCA
                                                                                                                                                                                            Value        Score Score
                                                                                                                                                                         TOTALS:             90           59    13
1. APPLICATION COMPLETENESS/ORGANIZATION                                                  (Applicants start with 10 pts. Any points entered will be subtracted from score value)             10           10    10          X
    A. Missing or Incomplete Documents                 Number: 0                  For each missing or incomplete document, one (1) point will be deducted                                     7     A.     0
    B. Financial and Other Adjustments                 Number: 0                  1-3 adjustments/revisions = one (1) pt deduction total; then (1) pt deducted for each add'l adjustment.     0     B.     0
    C. Organization                                    Number: 0                  One (1) pt deducted if not organized in DCA format and/or required document not in correct tab.             1     C.     0
Applicant's comments regarding this section of scoring:
All required documents are included and are organized as required by the QAP and project checklist. We do not believe that any financial or other adjustments will be required.
                                                                                                                                                                                                                         Row size may be
DCA's Comments:                                   Enter "1" for each item                                                                    Enter "1" for each item                           Enter "1" for each item
                                                                                                                                                                                                                           increased.
A. Missing / incomplete documents:                Nbr        0        B. Financial adjustments/revisions requested:                        Nbr          0          C. Documents not organized correctly: Nbr      0
1                                                                     1                                                                                            1

2                                                                     2                                                                                             2
                                                                                                                                                                                                                         Row size may be
3                                                                     3                                                                                             3                                                      increased.
4                                                                     4                                                                                             4

5                                                                     5                                                                                             5

6                                                                     6                                                                                             6

7                                                                     7                                                                                             7

8                                                                     8                                                                                             8

9                                                                     9                                                                                             9

10                                                                    10                                                                                            10

11                                                                    11                                                                                            11

12                                                                    12                                                                                            12




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            Georgia Department of Community Affairs                                                                                2011 Funding Application                                                                                    Office of Affordable Housing
                                                PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                                                                                             Score           Self DCA
                                                                                                                                                                                                             Value          Score Score
                                                                                                                                                                                      TOTALS:                 90             59    13
2. DEEPER TARGETING / RENT AND INCOME RESTRICTIONS                                                                                                                                                             3              3                X
    50% Gross Rent Restrictions / 50% Income Restrictions:                              Nbr units to have these restrictions:                    10                     Percent of Residential Units:         15.9%
    Applicant's comments regarding this section of scoring:
The Applicant agrees to set aside Ten (10) units or 15.9% of the total residential units at 50% AMI rent and income limits.                These units will be spread across each of the unit and bedroom types.

     DCA's Comments:



3. DESIRABLE AND UNDESIRABLE CHARACTERISTICS                                                  See QAP Scoring for further requirements. Applicants must complete Desirable/Undesirable Certification form.     12            12    0           X
                                                                                                                                                                                                               10            10    0      Net Desirable/Undesirable, exclusive of Bonus
 A. Desirable Activities                   (1 pt each)                   Number of sites under construction                                                                                   0                10      A.    10
 B. Bonus Desirable Sites                  Pts only awarded if applicant scores 10+ pts in base Desirables section w/out any Undesirable deductions,                                                            2      B.     2
 C. Undesirable Sites                      (1 pt subtracted each)       Nbr sites where conditions making property undesirable are temporary & change/mitigation is imminent                  1              various   C.     0

     Applicant's comments regarding this section of scoring:
Stratford Court is surrounded by a wide variety of desirable sites as evidenced by the certification worksheet included in Section 24. The surrounding community has a good mix of desirable residential, retail and
commercial uses. In addition, Stratford Court receives the two (2) bonus desirable points as evidenced by the certification worksheet in Section 24.
                                                                                                                                                                                                                                          Row size may be
The is an adjacent home that is abandoned and in disrepair, but Norsouth has an agreement with the owner of the house to demolish the structure and clean the site at its own expense prior to the placed in                                increased.
service date. Please see tab 24 for additional documentation regarding this condition.
Because this undesirable condition will be mitigated per the requirements of the QAP we have not deducted a point for this site.

     DCA's Comments:

                                                                                                                                                                                                                                          Row size may be
                                                                                                                                                                                                                                            increased.



4. Community Transportation Options                                                           See scoring criteria for further requirements and information                                                    2             0     0           X
 A. Rapid Rail                                                                                                                                                                                                 2       A.    0
 B. Public Transit Stop                                                                                                                                                                                        1       B.    0
     Applicant's comments regarding this section of scoring:
Not applicable

     DCA's Comments:




            d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                        Part IX A-Scoring Criteria                                                                                                      105 of 128
               Georgia Department of Community Affairs                                                                                         2011 Funding Application                                                                                            Office of Affordable Housing
                                                            PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                                                                                                            Score             Self DCA
                                                                                                                                                                                                                            Value            Score Score
                                                                                                                                                                                                   TOTALS:                     90             59    13
5. Adaptive Reuse                                      (w/PNA & supporting documentation - see scoring criteria)                  See scoring criteria for further requirements and information                                 1              0                   X
      Will the entire building be an adaptive reuse?                                                                                                                                                                                            N/a
      Existing building to be adapted was formerly used as:                                                                       N/A
     For rehabilitation projects, is the building to be adapted for reuse already part of the existing multifamily development?                                                                                                                 N/a
     Applicant's comments regarding this section of scoring:
Not applicable

      DCA's Comments:




6. Brownfield                                          (With EPA/EPD Documentation)                                               See scoring criteria for further requirements and information                                 2                0                 X
     Environmental regulatory agency which has designated the site as a Brownfield and determined:cleanup guidelines:             N/A
     Applicant's comments regarding this section of scoring:
Not applicable

      DCA's Comments:




7. SUSTAINABLE DEVELOPMENTS                         Choose only one. See scoring criteria for further req'mts. Earth Craft House                                                  3                                                              2                 X
      Does project meet threshold requirement for Building Sustainability and does owner agree to implement the following to educate residents and management?                                                                                  Yes
       A. Educate tenants with a project manual provided to each tenant upon move-in and conduct at least 1 class on green building features of the units prior to the submission                                                         A. Agree
            of LIHTC final allocation application. Submit a copy of the manual along with a sign-in sheet for the class conducted prior to the submission of LIHTC final allocation
            application.
       B. Educate management and maintenance staff with an orientation and produce a green operations and maintenance manual detailing sustainable features, the staff's role                                                             B. Agree
            in maintaining those features, and a replacement parts product source guide. Submit a copy of the manual to DCA prior to the submission of LIHTC final allocation
            application.
       Applicant's comments regarding this section of scoring:
Stratford Court will enter into the EarthCraft multifamily program as evidenced by the draft scoresheet provided in tab 29. In addition, Jervon Harris on our staff has completed Southface's green building for affordable housing training course as evidenced
by the certificate included in tab 29.



      DCA's Comments:




               d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                                 Part IX A-Scoring Criteria                                                                                                         106 of 128
               Georgia Department of Community Affairs                                                                                       2011 Funding Application                                                                                       Office of Affordable Housing
                                                        PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                                                                                                         Score               Self DCA
                                                                                                                                                                                                                         Value              Score Score
                                                                                                                                                                                                TOTALS:                     90               59    13
8. STABLE COMMUNITIES / REDEVELOPMENT / REVITALIZATION             Stable Communities < 10%                                                                                                                                  6                4             X
                                   Additional required questions depending on option selected above:
 A. Stable Communities                                                                                                                                                                                                       4
 X     1.    Project is located in a census tract that meets the following demographics according to the most recent FFIEC Census Report (www.ffiec.gov/WebCensus/):                                                                        Yes/No Yes/No
       a)    Less than 10% below Poverty level                           (see Income)                                                                                                                                                 a)     Yes
       b)    Designated Middle or Upper Income level                     (see Demographics)                                                                                                                                           b)     Yes
        c)   Market study must demonstrate need for affordable housing                                                                                                                                                                e)     Yes
       2.    Project is located in a census tract that meets the following demographics according to the most recent FFIEC Census Report (www.ffiec.gov/WebCensus/):                                                                        Yes/No Yes/No
       a)    Less than 20% below Poverty level                           (see Housing)                                                                                                                                                a)
       b)    Designated Middle or Upper Income level                     (see Demographics)                                                                                                                                           b)
        c)   Market study must demonstrate need for affordable housing                                                                                                                                                                e)
 B. Community Redevelop / Revitalization Plans and Strategies                                                                                                                                                                6
       1. HOPE VI or Choice Neighborhoods Initiatives - the Initiative will:                                                                                                                                                                Yes/No Yes/No
        a) Provide affordable units for an extended period of 30 years or more?                                                                                                                                                       a)
        b) Be part of a mixed income phased community with a significant market component?                                                                                                                                            b)
        c) Facilitate the deconcentration of poverty?                                                                                                                                                                                 c)
        d) Provide for community improvements or amenities?                                                                                                                                                                           d)
       2. Statutory Redevelopment Plans                               Plan clearly targets project's specific neighborhood and is proven to be current, ongoing and directly affecting site of proposed project?                      2.
       3. Redevelopment Zones                                         Type:                     <<Select>>            Identifier / Nbr:                                                                                               3.
       4. Local Redevelopment Plan - includes items below?            Name of Plan:                                                                                                                                                   4.
        a) Adopted on or before January 1, 2011?                      Date adopted:                                                                                                                                                   a)
        b) A discussion of potential sources of funding for the plan;                                                                                                                                                                 b)
        c) A clearly delineated target area that includes the proposed project site                                                                                                                                                   c)
        d) Detailed policy goals (one of which must be the rehabilitation or production of affordable rental housing)                                                                                                                 d)
        e) Implementation measures along with specific time frames for the achievement of such policies and housing activities.                                                                                                       e)
         f) The proposed development project must support at least one of the goals of the redevelopment or revitalization plan;                                                                                                       f)
        g) An assessment of the existing physical structures and infrastructure of the community                                                                                                                                      g)
      Is the Plan:                                                                                                                                                                                                                          Yes/No Yes/No
        h) Formulated by the Owner of the project and submitted to a local government for approval?                                                                                                                                   h)
         i) A short-term work plan?                                                                                                                                                                                                    i)
         j) A comprehensive plan, consolidated plan, municipal zoning plan or land use plan?                                                                                                                                           j)
        k) More than four years old?                                                                                                                                                                                                  k)
      Applicant's comments regarding this section of scoring:
The subject site is located in a census tract with 7.07% of the population below the Poverty Line; and is designated as a Middle Income level census tract. The market study included in Section 9 demonstrates a need for affordable housing due to the
capture rates for the project being considerably lower that the DCA maximum allowed. No other point categories are applicable in this section.



      DCA's Comments:




               d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                               Part IX A-Scoring Criteria                                                                                                    107 of 128
           Georgia Department of Community Affairs                                                                  2011 Funding Application                                                                            Office of Affordable Housing
                                               PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                                                                    Score            Self DCA
                                                                                                                                                                                    Value           Score Score
                                                                                                                                                               TOTALS:                90             59    13
9. PHASED DEVELOPMENTS / PREVIOUS PROJECTS                                                                                (choose only one)                                            3              3     3           X
     A. Phased Developments                                                                                                                                                            3       A.     0
      1. Is the proposed project part of a Phased Development in which one or more phases received an allocation of 9% tax credits within the past 3 funding rounds and at                     1.
                                                                                                                                                                                                     No
         least one phase has commenced construction per that allocation?
         If Yes, indicate DCA Project Nbr and Project Name of that phase:               DCA Project Nbr:                  Project Name
      2. Was the community originally designed as one development with different phases?                                                                                                      2.
      3. Are any other phases for this project also submitted during the current funding round?                                                                                               3.
      4. Was site control over the entire site (including all phases) in place when the initial phase was closed?                                                                             4.
OR B. Previous Projects                                                                                                                                                                3      B.    3       3
           Proposed development site is within the boundaries of a Local Government where a 9% Credit, 4% Credit and/or HOME project has not been awarded within the last            4        DCA funding cycles.
    Applicant's comments regarding this section of scoring:
As evidenced by DCA's previous projects list published on March 3rd; there have been NO 9% credit, 4% credit or HOME projects awarded within the City of Winder within the last four (4) DCA funding cycles.

    DCA's Comments:


10. MARKET                                                                                                                                                                             2              2                 X
    For DCA determination:                                                                                                                                                                                     Yes/No
 a) Have occupancy rates at comparable DCA properties experienced a significant decline?                                                                                                                  a)
 b) Are there more than two DCA funded projects in the primary market area which have occupancy rates of less than 90% and which compete for the same tenant base as the proposed
                                                                                                                                                                                                          b)
    project?
 c) Does analysis of one or more comparable properties in the market area indicate that the property may have difficulty reaching stabilized occupancy within the required timeframe?                     c)
 d) Does DCA have one or more projects in the primary market area that have been unable to convert construction to permanent loans due to failure to reach stabilized occupancy?                          d)
 e) Has there been a significant change in economic conditions in the proposed market that was unknown at the time of Application and which could detrimentally affect the long term viability of
                                                                                                                                                                                                          e)
    the proposed project and the proposed tenant population?
   f) Will foreclosures in the proposed market area detrimentally affect the ability of the proposed project to lease up?                                                                              f)
  g) Are the proposed rents at or near market rate rents of comparable properties?                                                                                                                    g)
  h) Does the proposed market area appear to be overestimated, creating the likelihood that the demand for the project is weaker than projected?                                                      h)
      Applicant's comments regarding this section of scoring:
The market study indicates strong demand for this project, the required capture rates for the project are considerably lower than the DCA maximum allowed and the rents are favorable in comparison to the other
rental properties in the market area.



    DCA's Comments:




           d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                          Part IX A-Scoring Criteria                                                                                         108 of 128
            Georgia Department of Community Affairs                                                                        2011 Funding Application                                                                        Office of Affordable Housing
                                                 PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                                                                                Score         Self DCA
                                                                                                                                                                                                Value        Score Score
                                                                                                                                                                         TOTALS:                 90           59    13
11. WAIVER OF QUALIFIED CONTRACT RIGHT / TENANT OWNERSHIP PLAN                                                                 (choose only one)                                                  1            1     0     X
     A. Waiver of Qualified Contract Right                  Applicant agrees to forego cancellation option for at least 5 yrs after close of Compliance period?               Yes                 1     A.     1
     B. Tenant Ownership                                                                                                                                                                          1     B.     0
    Applicant's comments regarding this section of scoring:
The Applicant agrees to forgo the cancellation option for at least 5 years after the close fo the Compliance period. Tenant ownership is not applicable
     DCA's Comments:




12. PRESERVATION                                                                                                                 (choose only one)                                                6            0    0      X
     A. Historic Designation                                                                                                                                                                      3     A.     0    0
         Indicate which category below the project falls into (select either category "One" or category "Two"). Documentation required by the QAP must be included in
         application binder where indicated by the Tabs Checklist:
      1. The property is a certified historic structure with an approved Part 1-Evaluation of Significance AND has submitted a Part 2- Description of Rehabilitation (and/or the                  3
         Georgia equivalent, Part A-Preliminary Certification) and has received approval from the Georgia DNR-HPD and the NPS of the scope of the rehabilitation as presented
         in the Part 2 and/or Part A application(s)
      2. The property is a certified historic structure (either listed individually on the National Register, or as a contributing structure in a National Register Historic District), or is     1
         deemed via a Georgia DNR-HPD approved NPS Part 1-Evaluation of Significance to have a preliminary determination of listing on the National Register.

     B. Preservation of Affordable Projects                                                                                                                                                       6     B.     0    0
       1. Expiring Tax Credit Properties                                                                                                                                                          6     1.     0
       2. USDA Properties                                                                                                                                                                         2     2.     0
       3. HUD Properties                                                                                                                                                                          2     3.     0
     Applicant's comments regarding this section of scoring:
This section is not applicable.




     DCA's Comments:




13. NONPROFIT                                                                                                                    (choose only one)                                                3            0    0      X
 A. GP comprised of 100% qualified NP organization having ownership in 5+ successful LIHTC projects they developed, constructed/rehabbed and P-I-S.                                               3     A.     0
 B. GP comprised of 100% qualified NP organization having ownership in 2+ successful LIHTC projects they developed, constructed/rehabbed and P-I-S.                                               2     B.     0
     Applicant's comments regarding this section of scoring:
Not applicable


     DCA's Comments:




            d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                Part IX A-Scoring Criteria                                                                                     109 of 128
            Georgia Department of Community Affairs                                                                         2011 Funding Application                                                                           Office of Affordable Housing
                                                 PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                                                                               Score            Self DCA
                                                                                                                                                                                               Value           Score Score
                                                                                                                                                                         TOTALS:                 90             59    13
14. TAX CREDIT EXPERIENCE                                                                                                         (choose only one)                                               2              2      0      X
 A. GP and Developer have been a project participant in two LIHTC projects. List project names and nbrs in Comments below.                                                                        2       A.     2
 B. GP and Developer have been a project participant in one LIHTC project. List project name and nbr in Comments below.                                                                           1       B.     0
     Applicant's comments regarding this section of scoring:
Both NS Partners, LLC (General Partner) and Norsouth Development Company of Georgia, LLC (Developer) were project participants in the following two (2) recently closed LIHTC projects; both of which
received an allocation in 2009. Heritage at Madison Pointe - #2009-047 (closed on 10/14/2010) and Marketside at Brookleigh - #2009-045 (closed on 2/25/2011).
     DCA's Comments:




15. RURAL                                                                                                                         (80 residential units or less)                                  3             3              X
     If claiming Rural points for both this project and another rural project, list the project name of the other rural project in box below and indicate points claimed. List all other rural projects
     submitted in this funding round in Comments below for which no points are being claimed.
          Project Name                                  N/A                                  Points Claimed for other project:                             Points Claimed for this project:       3
     Applicant's comments regarding this section of scoring:                                                                      DCA's Comments:
USDA evidence of rural qualification is provided in tab 1. Norsouth is not claiming rural points for any other projects in
this funding round.

16. DCA COMMUNITY INITIATIVES                                                                                                                                                                     1              1             X
     Letter from a designated                     Georgia Institute for Community Housing Community             that clearly:                                                                                  Yes/No Yes/No
      a) identifies the project as located w/in political jurisdiction:                      Winder                                         <Select Community of Opportunity>                             a)    Yes
      b) is indicative of the community’s affordable housing goals                                                                                                                                        b)    Yes
      c) identifies that the project meets one of the objectives of the Community                                                                                                                         c)    Yes
      d) is excuted by the official representative of the Community                                                                                                                                       d)    Yes

    Applicant's comments regarding this section of scoring:
Please see the letter from Mayor George "Chip" Thompson III in tab 36 evidencing how our project will support the goals and objectives of the City's GICHC plan.




     DCA's Comments:




            d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                                 Part IX A-Scoring Criteria                                                                                        110 of 128
             Georgia Department of Community Affairs                                                                 2011 Funding Application                                                  Office of Affordable Housing
                                               PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                                                  Score         Self DCA
                                                                                                                                                                  Value        Score Score
                                                                                                                                                        TOTALS:    90           59    13
17. LEVERAGING OF RESOURCES                                                                                                                                        8            0       0      X
    To be eligible for points under section A or B below, the following criteria must be met:                                                                                  Yes/No Yes/No
     1. Funding or assistance provided will be binding and unconditional except as set forth in this section.                                                             1.    N/a
      2.   Resources will be utilized if the project is selected for funding by DCA                                                                                       2.    N/a
      3.   Loans are for both construction and permanent financing phases                                                                                                 3.    N/a
      4.   Loans are for a minimum period of ten years and reflect interest rates at or below AFR.                                                                        4.    N/a
      5.   Commitment or award documentation meets the terms and conditions as applicable specified in Appendix I, Threshold Criteria, Section I (I).                     5.    N/a
 A. Grants/Loans                                                                                                                                                    3     A.    0       0
      1.   Community Development Block Grant (CDBG) program funds                    ($500,000 minimum)                                                             1     1.     0
      2.   Federal Home Loan Bank Affordable Housing Program (AHP)                   ($500,000 minimum)                                                             1     2.     0
      3.   HOME Funds (non DCA source)                                               ($500,000 minimum)                                                             1     3.     0
      4.   Long term Ground leases for nominal consideration and no other land costs                                                                                1     4.     0
      5.   NSP not allocated from DCA                                                ($1,000,000 minimum)                                                           2     5.     0
      6.   Beltline Grant                                                            ($1,000,000 minimum)                                                           2     6.     0
      7.   Housing Opportunity Bonds                                                 ($1,000,000 minimum)                                                           2     7.     0
      8.   HUD 202 or 811 program funds                                              ($3,000,000 minimum)                                                           3     8.     0
 B. Efficient use of DCA Resources                                                    DCA OAH HOME Loan Consent                                                     3     B.     0
 C. Off Site Improvement, Amenity and Facility Investment                                                                                                           2     C.     0
      1. Name of Unrelated Third Party
      2. Description of Improvement(s)



      3. Full Cost of Improvement

    Applicant's comments regarding this section of scoring:
The applicant is not claiming any points in this section.




    DCA's Comments:




             d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                        Part IX A-Scoring Criteria                                                                111 of 128
           Georgia Department of Community Affairs                                                                     2011 Funding Application                                                                   Office of Affordable Housing
                                               PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                                                                     Score         Self DCA
                                                                                                                                                                                     Value        Score Score
                                                                                                                                                                  TOTALS:             90           59    13
18. SUPERIOR PROJECT CONCEPT AND DESIGN                                                                                                                                                6                           X
    Is the applicant claiming these points?                                                                                                                                                        No
    If Yes, a form for applicant's required narrative is located in Tab IX-B of this electronic core application. Is a completed printed copy (no more than two pages) included in
    the application binder where indicated by the Tabs Checklist?
    Applicant's comments regarding this section of scoring:
The applicant is not claiming points for this category.


    DCA's Comments:




19. BONUS POINTS                                                                                                                                                                       6            6     0        X
 A. Compliance with DCA Web-Based MITAS System Requirements                                                                                                                            3     A.     3
 B. Marketing to Tenants with Special Needs                                                                                                                                            3     B.     3
    Owner and Developer agree to accept rental assistance from a state, federal or other approved organization for up to 5% of the units in their Georgia owned Tax credit developments
                                                                                                                                                                                                  Agree
    for purposes of housing tenants covered by the settlement order between the State of Georgia and the Department of Justice in case # 1:10-CV-249-CAP?
    Applicant's comments regarding this section of scoring:
Norsouth Management Company provided all the required MITAS system requirements as requested by DCA-please see tab 39.
    DCA's Comments:



20. COMPLIANCE / PERFORMANCE                                                                                                                                                          10           10     0        X
    Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                                                                                  No
    A. Owner/Developer                                                                                                                                                                       A.    10
    B. Manager (Pass or Fail)                                                                                                                                                                B.   Pass
     Applicant's comments regarding this section of scoring:
The Applicant did not apply for a compliance predetermination letter from DCA. The required compliance scoring forms are included in the Performance Workbook in tab 3 as well as in the compliance scoring
                                                                                                                                                                                                                Row size may be
tab 38. Norsouth Management Company has been awarded a Pass rating by DCA as evidenced by the pre-determination chart provided by DCA and included in both tab 4 and tab 38.
                                                                                                                                                                                                                  increased.

    DCA's Comments:
                                                                                                                                                                                                                Row size may be
                                                                                                                                                                                                                  increased.

                                                                                      TOTAL POSSIBLE SCORE                                                                            90           59     13




         (Select a unit amenity from options provided here)                                                                 (Select an amenity from options provided here)
         Microwave Oven in every unit                                                                                       <<Select>>
           d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                            Part IX A-Scoring Criteria                                                                                 112 of 128
 Georgia Department of Community Affairs                                                                 2011 Funding Application                                                       Office of Affordable Housing
                              PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                                               Score       Self DCA
                                                                                                                                                               Value      Score Score
                                                                                                                                               TOTALS:           90        59    13
In-sink disposal in every unit                                                                                   Attractively fenced community gardens
Built in dishwasher in every unit                                                                                Equipped soccer field
Installed call system in all units                                                                               Tennis court
High-speed internet access No Cost                                                                               Equipped walking path with exercise stations or sitting areas
High-speed internet access Low Cost                                                                              Retention pond/Fountain
                                                                                                                 Equipped playground
<<Select>>                                                                                                       Covered pavilion with picnic/barbecue facilities
Construction of on-site access road req'd for property access                                                    Furnished Children’s Activity center
Construction of off-site access road req'd for property access                                                   Furnished Library
Development of parks on a master plan development site                                                           Equipped Computer Center
Development of green space on a master plan development site                                                     Furnished Exercise/Fitness Center
Development of walking trails on a master plan development site                                                  Furnished sitting areas by elevators
Development of YMCA center                                                                                       Swimming Pool
Development of youth center                                                                                      Complete built-in fire sprinkler system
Development of senior center                                                                                     Off Site Improvements in Master Plan Communities
Construction of sidewalks adjacent to the property
Construction of streetscape adjacent to the property
Construction of sidewalks and streetscape adjacent to the property
Other (See comments)


                                                GICH Communities           Signature          Communities of
                                                                          Communities          Opportunity
                                                < Select applicable   < Select Signature    <Select Community
                                                GICH >                Community >           of Opportunity>


                                                Americus / Sumter     Barnesville           Berrien
                                                County
                                                Auburn                Calhoun               Burke
                                                Berrien County        Colquitt /Miller Co   Calhoun
                                                Brunswick             Covington /Newton     Clay
                                                                      Co
                                                Calhoun               Dublin                Coffee
                                                Camden County         Fayetteville          Colquitt
                                                Cartersville          Flovilla / Butts Co   Cook
                                                Colquitt              Forsyth               Decatur
                                                Cordele               Holly Springs         Dooly
                                                Covington             Jesup / Wayne Co      Dougherty


                                                Dalton / Whitfield    Remerton/Valdosta     Early
                                                County
                                                Douglas               Rome                  Elbert
                                                Eatonton              Snellville            Glascock




 d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                           Part IX A-Scoring Criteria                                                                  113 of 128
Georgia Department of Community Affairs                                                              2011 Funding Application                                       Office of Affordable Housing
                             PART NINE - SCORING CRITERIA - 2011-049 Stratford Court, Winder, Barrow County
                                                                                                                                              Score    Self DCA
                                                                                                                                              Value   Score Score
                                                                                                                                    TOTALS:    90      59    13
                                               Fort Valley          St.                 Grady
                                                                    Mary's/Kingsland/Wo
                                                                    odbine/Camden Co


                                               Gray / Jones County Tifton / Tift Co     Hancock


                                               Griffin              Toccoa / Stephens   Irwin
                                                                    Co
                                               Hall County          Wilkinson Co        Jefferson
                                               Hawkinsville         N/a                 Jenkins
                                               Metter                                   Lee
                                               Milledgeville                            Lincoln
                                               Moultrie                                 Macon
                                               Newnan                                   Marion
                                               Rome                                     McDuffie
                                               Sandersville /                           Miller
                                               Tennille /
                                               Washington County


                                               Sylvania                                 Mitchell
                                               Sylvester                                Schley
                                               Thomasville                              Seminole
                                               Thomson / McDuffie                       Stewart
                                               County
                                               Tifton                                   Taliaferro
                                               Toccoa                                   Taylor
                                               Valdosta                                 Terrell
                                               Vienna                                   Thomas
                                               Washington                               Warren
                                               Waycross                                 Webster
                                               Waynesboro                               Wilkes
                                               Winder                                   Worth




d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx - May 2011                                                   Part IX A-Scoring Criteria                                                       114 of 128
Georgia Department of Community Affairs                                               Office of Affordable Housing
                 Scoring Section 18 - Superior Project Concept and Design Narrative
                                               Stratford Court
                                            Winder, Barrow County




                                                                                                         NOTE: Row siz
                                                                                                         decreased as n
                                                                                                         will hold only 2




2011 OAH Funding Round                    d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx                   115 of 128
Georgia Department of Community Affairs                                               Office of Affordable Housing
                 Scoring Section 18 - Superior Project Concept and Design Narrative
                                               Stratford Court
                                            Winder, Barrow County




2011 OAH Funding Round                    d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx                   116 of 128
Georgia Department of Community Affairs                                               Office of Affordable Housing
                 Scoring Section 18 - Superior Project Concept and Design Narrative
                                               Stratford Court
                                            Winder, Barrow County




2011 OAH Funding Round                    d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx                   117 of 128
Georgia Department of Community Affairs                                               Office of Affordable Housing




                         NOTE: Row size may be increased or
                         decreased as needed. However, each cell
                         will hold only 255 characters.




2011 OAH Funding Round                    d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx                   118 of 128
Georgia Department of Community Affairs                                               Office of Affordable Housing




2011 OAH Funding Round                    d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx                   119 of 128
Georgia Department of Community Affairs                                               Office of Affordable Housing




2011 OAH Funding Round                    d5900df1-5eb0-48aa-9df1-879d9bca379f.xlsx                   120 of 128
    Georgia Department of Community Affairs
    Office of Affordable Housing
    60 Executive Park South, NE.
    Atlanta, Georgia 30329-2231

    Re: Application for Low-Income Housing Tax Credit and/or HOME Funding

    To DCA:

    This application is submitted in accordance with the 2011 Qualified Allocation Plan and the Office of
    Affordable Housing Application Manual. In submitting this application for funding consideration, the
    undersigned applicant hereby certifies:
    1)    I am 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(c)(2) and will satisfy all
          applicable requirements of State and federal tax law in the acquisition, rehabilitation, and operation
          of the project to receive State and federal housing tax credits.
    2)    I am responsible for all calculations and figures relating to the determination of the eligible basis of
          the building(s). I understand and agree that the amount of the credit is allocated by reference to the
          figures that I submit as to eligible and qualified basis. I understand that the actual amount of credit
          allocated may vary somewhat from the amount initially reserved or committed due to (a) the
          determination by the Georgia Department of Community Affairs ("DCA") as to the amount of
          credit necessary for the financial feasibility of the project and its viability as a qualified low-
          income housing project; (b) revisions in the calculations of eligible and qualified basis as finally
          determined; (c) fluctuations in the prevailing credit percentage; and (d) availability of the credit.

    3)    I understand and agree that DCA makes no representations or warranties regarding the financial
          feasibility of the project, the amount of credit, or the appropriateness of the allocation of the credit
          and makes no independent investigation as to the eligible and qualified basis and that any and all
          credit awards and credit amounts are solely based on representations made by me. I therefore
          agree to hold harmless and indemnify DCA and the individual directors, employees, members,
          officers, and agents of DCA in the event that I or anyone acting on my behalf, at my request or by
          and through me incurs any loss in conjunction with the project, diminution of the credit, loss of the
          credit, recapture of part or all of the credit or failure to allocate the credit requested in my
          application.

    4)    I understand and agree that neither DCA nor any of its individual directors, employees, members,
          officers, or agents assume any responsibility or make any representations or warranties with
          respect to: (i) the amount or availability of credit for the project; or (ii) the financial feasibility of
          the project.



2011 OAH Funding Application                  DCA Office of Affordable Housing                              Page 121 of 128
    5)    I understand and agree that my application for a low-income housing credit and/or HOME loan, all
          attachments thereto, amendments, and all correspondence relating to my application in particular or
          the credit in general are subject to a request disclosure under the Georgia Open Records Act and I
          expressly consent to such disclosure. I further understand and agree that any and all
          correspondence to me from DCA or other DCA-generated documents relating to my application are
          subject to a request for disclosure under the Georgia Open Records Act and I expressly consent to
          such disclosure. I agree to hold harmless DCA and the individual directors, employees, members,
          officers, and agents of DCA against all losses, costs, damages, expenses, and liability of
          whatsoever nature or kind (including, but not limited to, attorneys' fees, litigation, and court costs)
          directly or indirectly resulting from or arising out of the release of all information pertaining to my
          application pursuant to a request under the Georgia Open Records Act.

    6)    I understand that any misrepresentations in this application or supporting documentation may result
          in a withdrawal of tax credits and/or HOME loan by DCA, my (and related parties) being barred
          from future program participation, and notification of the Internal Revenue Service and/or HUD.
    7)    I certify that all Federal, State and local subsidies have been disclosed and revealed.

    In addition, Applicant understands:
    •     The above certifications are of a continuing nature and apply at all stages of the application
          process: initial application, commitment, and final allocation/funding.
    •     The State of Georgia Department of Community Affairs (DCA) must be notified of any subsequent
          events or information, which would change any statements or representations in the attached
          application or amendments thereto;
    •     DCA reserves the right to verify all information or documents used in processing the application,
          including requiring credit checks on all parties involved in the transaction. Applicant hereby
          authorizes the financing bank, accountant, mortgage lender, creditors, other state housing agencies
          and others sources identified in the application to release information to DCA or its designee in
          order to verify the accuracy of information in the application and amendments thereto.

    Applicant agrees and understands that it may be charged for all fees and costs incurred by DCA in the
    inspection of funded properties during and after construction and in the enforcement of DCA
    regulations and policies.
    To the best of my knowledge, all of the information in the attached application, including all supporting
    documentation is correct, complete and accurate.

    APPLICANT/OWNER


                        Printed Name                                                   Title




                          Signature                                                    Date

                                                                                     [SEAL]




2011 OAH Funding Application                 DCA Office of Affordable Housing                            Page 122 of 128
    [This document is to be submitted with Application]

    APPLICATION CERTIFICATION FORM LETTER
    [to be submitted under Applicant's letterhead]

    [Date]




2011 OAH Funding Application     DCA Office of Affordable Housing   Page 123 of 128
                                                                                           SUMMARY OF DCA UNDERWRITING ASSUMPTIONS
Category                                                Specification                                                Scale                                                                          Minumum Maximum
Funding Limits                                          LIHTC                                                        Per Project                                                                      n/a          950,000
                                                                                                                     Per Owner Per Round                                                              n/a         1,700,000
                                                        HOME                                                         Per Project                                                                    800,000       2,500,000
                                                                                                                     Per Owner Per Round (% of HOME funds available)                                  n/a            25%
                                                                                                                         0 BR         1 BR         2 BR         3 BR                 4 BR
                                                        Unit Cost Limit - both LIHTC and HOME                          110,481      126,647      154,003     199,229               218,693            n/a         8,953,444
                                                        Brownfield Projects                                            132,577      151,976      184,804     239,075               262,432            n/a        10,744,132
                                                        Historic Rehab Projects                                        121,529      139,312      169,403     219,152               240,562            n/a         9,848,789
Annual Operating Expenses
  Annual Operating Expenses                             Urban          Atlanta                                       Per Unit                                                                          4,500            n/a
                                                                       Other                                         Per Unit                                                                          4,000            n/a
                                                        Non-MSA Rural w/out USDA Financing                           Per Unit                                                                          3,000            n/a
                                                        Rural w/USDA Financing                                       Per Unit                                                                          3,000            n/a
  Replacement Reserve Pymt                              Rehab                                                        Per Unit                                                                            350            n/a
                                                        New                                                          Per Unit                                                                            250            n/a
                                                        All Single Family                                            Per Unit                                                                            420            n/a
                                                        All Historic Rehab                                           Per Unit                                                                            420            n/a
Development Costs
  Pre-Development Costs                                 Tax Credit Application Fee                                   Per Project - For Profit or Joint Venture                                                4,000
                                                        Tax Credit Application Fee                                   Per Project - Nonprofit                                                                  3,000
                                                        DCA Loan Application Fee                                     Per Project - For Profit or Joint Venture                                                1,000
                                                        DCA Loan Application Fee                                     Per Project - Nonprofit                                                                   500
                                                        DCA Loan / LIHTC Application Fee                             Per Project - For Profit or Joint Venture                                                5,000
                                                        DCA Loan / LIHTC Application Fee                             Per Project - Nonprofit                                                                  3,500
  Hard Costs                                            Rehab                                                        Per unit - Properties 20 yrs old or less                                       25,000            see UCL
                                                                                                                     Per unit - Properties over 20 yrs old                                          30,000            see UCL
  Construction Contingency                              New                                                          LESSER OF % of Construction Hard Costs                                          N/A                5%
                                                                                                                     OR Dollar amount                                                                N/A              500,000
                                                        Rehab                                                        LESSER OF % of Construction Hard Costs                                          N/A                7%
                                                                                                                     OR Dollar amount                                                                N/A              500,000
  Builder Profit                                          n/a                                                        % of (Construction Hard Costs, exclusive of Contingency and Contractor Svcs)     n/a               6%
  Builder's Overhead                                      n/a                                                        % of (Construction Hard Costs, exclusive of Contingency and Contractor Svcs)     n/a               2%
  General Requirements (exclusive of Contractor Services) n/a                                                        % of (Construction Hard Costs, exclusive of Contingency and Contractor Svcs)     n/a               6%
  LIHTC Allocation Fee                                    LIHTC Fee                                                  Percent of Credit Request                                                                 7%
  4% LIHTC IRS Form 8609 Fee                              LIHTC Fee                                                  Percent of Credit Request                                                                 7%
  Front-End Analysis Fee                                                                                                                                                                                      2,700
  Compliance Monitoring Fee                               LIHTC Fee (both 4% and 9%)                                 Per Unit                                                                        700                n/a
                                                          USDA or URFA Fee                                           Per Unit                                                                        150                n/a
  Developer's Fee                                                                                                    Maximum                                                                                1,800,000
                                                          Identity of Interest     New Construction                  % of (TDC - budgeted DF - Demo - uw Land)                                                 15%
                                                                                   Acq / Rehab Acq portion           % of Existing Structures acquisition cost (including Acquisition Legal Fees)              15%
                                                                                                  Rhb portion        % of (TDC - budgeted DF - uw Land - Acq Lgl Fees - Existing Structures)                   15%
                                                                                   Rehabilitation                    % of (TDC - budgeted DF - uw Land - Acq Lgl Fees - Existing Structures)                   15%
                                                                                                  % DF to bldg acq   % of (TDC - budgeted DF - uw Land)                                                        15%
                                                          No Identity of Interest                                    LESSER OF % of (TDC - uw Land - budgeted DF - Bldr profit)                                15%
                                                                                                                     OR percentage proposed                                                                     ?
                                                        Deferred DF Term (Years)                                                                                                                       0                15
                                                        Deferred DF % of Total DF                                                                                                                     0%               50%
   Operating Deficit Reserve                                                      Mths of Year 1 Debt Service (out of 12)                                6             n/a
                                                                                  Mths of Year 1 O&M Expense (out of 12)                                 6             n/a
   Rent-Up Reserve                                                                Mths of projected operating expenses                                   3             n/a
   Final Inspection Fee                                                           Per Project                                                                  3,000
Proforma Operating Forecast
   Number of Persons in Family and Percentage Adjustments for Rent Calculations        1             2             3         4       5      6      7      8
                                                                                      70%          80%            90%       Base   108%   116%   124%   132%
   Revenue Growth Rate                                                            Per Operation Year                                                            2%
   V&C Loss Rate (Non-PBRA/USDA)                                                  Per Operation Year                                                            7%
   V&C Loss Rate (PBRA/USDA)                                                      Per Operation Year                                                            7%
   Operating Expense Growth Rate                                                  Per Operation Year                                                            3%
   Replacement Reserve Annual Payment Growth Rate                                 Per Operation Year                                                            3%
   Operating Reserve Annual Payment Growth Rate                                   Per Operation Year                                                            0%




                                 2011                                             Assumed Family Size Adjustments
                   Area             AMI                                            # Bdrms       Adj         AFS
            Albany                48,700                                                0            0.7           1
            Athens-Clarke County58,600                                                  1           0.75          1.5
                                  68,300
            Atlanta-Sandy Springs-Marietta                                              2            0.9           3
            Augusta-Richmond Co.  57,100                                                3           1.04          4.5
            Brunswick             59,400                                                4           1.16           6
            Butts Co.             63,400                                                5           1.28          7.5
            Chattanooga           57,000
            Columbus              51,600
            Dalton                50,200
            Gainesville           61,200
            Haralson Co.          46,800
                                  47,100
            Hinesville - Fort Stewart
            Lamar Co.             42,700
            Long Co.              48,500
            Macon                 54,000
            Meriwether Co.        48,900
            Monroe Co.            63,700
            Murray Co.            47,100
            Rome                  52,100
            Savannah              60,000
            Valdosta              50,300
            Warner Robins         70,400
            Appling Co.           44,500
            Atkinson Co.          36,500
            Bacon Co.             45,100
            Baldwin Co.           49,700
            Banks Co.             48,400
            Ben Hill Co.          36,500
            Berrien Co.           43,700
            Bleckley Co.          52,300
            Bulloch Co.           56,000
            Calhoun Co.           43,200
            Camden Co.            60,800
            Candler Co.           40,700
            Charlton Co.          48,200
            Chattooga Co.         40,500
            Clay Co.              44,200
            Clinch Co.            41,600
            Coffee Co.            42,300
            Colquitt Co.          40,400
Cook Co.         41,100
Crisp Co.        40,400
Decatur Co.      46,800
Dodge Co.        46,200
Dooly Co.        39,800
Early Co.        41,300
Elbert Co.       39,500
Emanuel Co.      38,800
Evans Co.        44,200
Fannin Co.       45,700
Franklin Co.     45,600
Gilmer Co.       43,900
Glascock Co.     42,800
Gordon Co.       51,700
Grady Co.        45,000
Greene Co.       47,400
Habersham Co.    50,200
Hancock Co.      33,300
Hart Co.         49,900
Irwin Co.        55,800
Jackson Co.      58,600
Jeff Davis Co.   38,400
Jefferson Co.    38,500
Jenkins Co.      36,500
Johnson Co.      32,800
Laurens Co.      50,600
Lincoln Co.      43,200
Lumpkin Co.      52,400
Macon Co.        38,600
Miller Co.       44,700
Mitchell Co.     47,700
Montgomery Co.   47,400
Morgan Co.       56,700
Peach Co.        58,800
Pierce Co.       48,700
Polk Co.         48,000
Pulaski Co.      46,600
Putnam Co.       52,000
Quitman Co.      40,400
Rabun Co.        52,600
Randolph Co.     33,500
Schley Co.       48,100
Screven Co.      49,000
Seminole Co.     45,200
Stephens Co.     44,700
Stewart Co.      38,200
Sumter Co.       40,800
Talbot Co.       46,600
Taliaferro Co.   25,200
Tattnall Co.     45,700
Taylor Co.       37,000
Telfair Co.      40,300
Thomas Co.       51,200
Tift Co.         47,000
Toombs Co.       43,300
Towns Co.        51,200
Treutlen Co.     38,400
Troup Co.        50,100
Turner Co.       41,000
Union Co.        50,700
Upson Co.        44,900
Ware Co.         46,000
Warren Co.       36,500
Washington Co.   42,800
Wayne Co.        51,700
Webster Co.      37,800
Wheeler Co.     47,100
White Co.       53,800
Wilcox Co.      41,100
Wilkes Co.      42,000
Wilkinson Co.   45,200
Maximum is project-specific
Maximum is project-specific
Maximum is project-specific

				
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