Application Tabs Checklist - DCA

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					       Georgia Department of Community Affairs                                                                                                                         Office of Affordable Housing
                                         2011 Application Binder Tabs Checklist For: 2011-015, Briarcliff Summit Apartments , Fulton 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)                                                                N/a
                                                          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                                                                   Yes
         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                                                                                      Yes
                                                          Legal opinion that project will meet for the 15 year compliance period requirement specified for the Preservation Set-Aside                    Yes
                                                          Replacement housing factor (RHF) funds documents                                                                                               N/a
                                                          Section 515 financing documents                                                                                                                N/a
                                                          Project Based Section 8 contract (Original and Renewal)                                                                                        Yes
                                                          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 N/a
                                                          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
       6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                Application Tabs Checklist                                                                        1 of 127
       Georgia Department of Community Affairs                                                                                                                     Office of Affordable Housing
                                         2011 Application Binder Tabs Checklist For: 2011-015, Briarcliff Summit Apartments , Fulton 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                                                                                                              Yes
                                                         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                                                                                                                       Yes
      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                                                 N/a
                                                         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                               Yes
                                                         HUD Invitation to Submit, if applicable                                                                                                     No
                                                         USDA documentation, if applicable                                                                                                           N/a
                                                         Tax Abatement documentation, if applicable                                                                                                  N/a
                                                         Evidence of PBRA Agreements, if applicable                                                                                                  Yes
                                                         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



       6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                               Application Tabs Checklist                                                                     2 of 127
       Georgia Department of Community Affairs                                                                                                                       Office of Affordable Housing
                                         2011 Application Binder Tabs Checklist For: 2011-015, Briarcliff Summit Apartments , Fulton 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                                                                                         Yes
                                                         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)                                                                                         N/a
                                                         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)                                                                                Yes
   (Rehab projects)                                      Comprehensive Rehabilitation Work Scope                                                                                                                     Yes

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                                                                                                                           N/a
                                                         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


       6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                              Application Tabs Checklist                                                                                      3 of 127
       Georgia Department of Community Affairs                                                                                                                              Office of Affordable Housing
                                            2011 Application Binder Tabs Checklist For: 2011-015, Briarcliff Summit Apartments , Fulton 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                                                                                      Yes
                                                              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                                                                                                                          Yes
                                                              Detailed Project-Specific Displacement/Relocation Plan and Budget                                                                                            Yes
                                                              Multifamily Tenant Relocation Plan Certification                                                                                                             Yes
                                                              Temporary Relocation Cost Estimate                                                                                                                           Yes
                                                              General Info Notice for Occupants at Time of App / Proof of Delivery                                                                                         N/a
                                                              Occupancy History                                                                                                                                            Yes
                                                              Site Map of Property                                                                                                                                         Yes
                                                              Tenant Household Data Forms                                                                                                                                  Yes
                                                              Site Relocation Survey                                                                                                                                       Yes
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                 N/a
   Homeless                                          Marketing Plan outlining how the project will market units to tenants with disabilities and the homeless                                                              N/a
                                                              Marketing Plan establishes and maintains relationships between the management agent and community service providers                                          N/a
                                                              Marketing Plan including a referral and screening process, the screening criteria and a plan to provide reasonable accommodations to facilitate the          N/a
                                                              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              N/a
                                                              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                           Yes
                                                              Documentation from transit authority showing relevant bus route and schedule                                                                                 Yes




       6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                  Application Tabs Checklist                                                                                        4 of 127
       Georgia Department of Community Affairs                                                                                                                        Office of Affordable Housing
                                        2011 Application Binder Tabs Checklist For: 2011-015, Briarcliff Summit Apartments , Fulton 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



       6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                              Application Tabs Checklist                                                                                       5 of 127
       Georgia Department of Community Affairs                                                                                                                           Office of Affordable Housing
                                          2011 Application Binder Tabs Checklist For: 2011-015, Briarcliff Summit Apartments , Fulton 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                                              No
                                                            Copy of preliminary equity commitment for federal and Georgia historic rehab credits                                                                   No
                                                            NPS National Historic Designation documentation on or before 8/17/2011                                                                                 Yes

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               Yes
        USDA Properties                                     Documentation from USDA specifying the projects’ High Priority designation                                                                             N/a
        HUD Properties                                      Documentation from HUD specifying the projects High Priority designation                                                                               Yes

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                                                                                                             N/a

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                                                  39-A: Superior Project Concept Narrative & Supplemental Materials               Superior Project Concept Bonus Points                                    Yes
                                                          39-B: Furniture, Fixtures and Equipment Budget                                  Part IV - Use of Funds, Development Budget FF&E Line Item                Yes
        (Provide name of each item and what section it is
                                                          39-C: Management Agent Qualification                                            Part                                                                     Yes
        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




       6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                 Application Tabs Checklist                                                                                 6 of 127
                                                         Project Narrative
                                                   Briarcliff Summit Apartments
                                                       Atlanta, Fulton County


Briarcliff Summit Apartments, located at 1050 Ponce De Leon Avenue NE, Atlanta, Georgia, was originally built in 1923 as a hotel. It
was converted into its current use, as affordable elderly housing, in the 1980s. The property was refinanced with bonds and 4% Tax
Credits in 1993 and has now completed its Tax Credit compliance period. The property has historical significance within the
neighborhood and has been listed on the National Register of Historic Places since 1982. Since its conversion to low-income                NOTE: Row siz
housing, Briarcliff Summit has served low and very low income elderly (aged 62+) and disabled individuals in a mix of efficiency, one      decreased as n
bedroom and two bedroom units. There are a total of 201-units at the property of which 89 are efficiency units, 86 are one bedroom         will hold only 2
units and 26 are two bedroom units. The property has a HUD project-based Section 8 contract that serves 99% of the units, enabling
the property to serve the lowest income population. More than half of the existing residents are disabled. The disabilities range from
physical handicaps to mental health and substance abuse challenges.

Evergreen Partners plans to acquire, renovate and stabilize Briarcliff Summit Apartments. The property currently suffers from
substantial deferred maintenance and is need of comprehensive rehabilitation. The renovation will also improve and stabilize the
property’s prominent historic features, making a significant and positive visual impact for the community. The property is a critical
source of deeply affordable housing in an ideal location that would be impossible to replicate if Briarcliff is lost from the affordable
inventory. Given the age and vulnerable nature of the population, without this unique housing resource many of the residents would
certainly be at-risk of becoming homeless or forced to live in substandard housing conditions.

Local officials, advocates and community representatives are aware of Briarcliff’s deterioration and of its value as a unique housing
resource. The sustained and vocal support shown by the City, Atlanta Development Authority and the Virginia Highlands Civic
Association attest to this. Most notably, HUD has designated Briarcliff as their “High Priority” property for the 2011 funding round.

The conversion of Briarcliff to a conventional use at some point in the future is a highly plausible threat. The existing Section 8
contract can be terminated by the owner at each annual anniversary. (Please see Regulatory History/Status description included in
Tab 39-A) Several of the principals in the current ownership group had bought into the property only six years ago with the intention
of converting the building to condominium use at the end of the (now expired) tax credit compliance period. The economic crisis of
the past few years has certainly dampened that prospect. However, because of the property’s urgent and mounting physical needs,
the current owner needs to achieve a recapitalization through one approach or another. Evergreen has applied for a Tax Credit
allocation in the 2010 Round, but was not successful. When the results of the 2010 round were announced, the owner proceeded to
list the property for sale with a broker, creating significant alarm among the residents and the advocate community. During the short
period of time that the property was listed, there was considerable interest from buyers who would seek to convert the property. The
complexity of such a conversion and the modest tenor of the economic recovery did introduce some uncertainty into this prospect, at
least for the short run. Evergreen was narrowly able to convince the owner that making another attempt at Tax Credits is their better
alternative.

The renovation plan for Briarcliff Summit is budgeted at approximately $57,000 per unit and will address all major building systems,
improving the living conditions for the residents and bringing the building up to today’s modern and energy efficient standards. The
following items will be replaced as part of the renovation: kitchens, bathrooms, flooring, heating and cooling system, lighting, windows
and roofing. Evergreen will participate in Enterprise’s Green Communities Program, and will implement a number of energy efficient
and green building measures as part of the renovation. New project amenities will be added as well, including; a Community Room,
Wellness Center, Fitness Center, Computer Lab, Arts & Crafts Room, on-site resident service coordinator and a new security camera
system.

The total re-development cost will be exceed $27.5MM. Approximately $7.1MM of this cost will be financed with an FHA insured
221(d)(4) first mortgage loan. HUD has been extremely supportive of the loan application, and the preservation effort as a whole. A
$1.5MM low-interest second mortgage loan will be obtained from the Atlanta Development Authority through their Housing
Opportunity Bond Program. Nearly $15.1MM in equity will be raised from the sale of Federal and State low-income housing tax
credits. An additional $2.8MM will be raised from the sale of historic tax credits that the property is qualified to receive. The
remaining sources will be funded by project income during construction and a deferred development fee note issued by the
developer.




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                                                        Project Narrative
                                                   Briarcliff Summit Apartments
                                                       Atlanta, Fulton County

Eighty-five percent of the apartments will be restricted to tax credit eligible elderly tenants earning a maximum of 60% of area median
income, and the balance (15%) will be set-aside to serve elderly individuals earning 50% or less of area median income. As noted
above, the property has an existing project-based Section 8 contact covering 99% of the units. This contract is currently being
renewed for single year terms. As part of the preservation effort, Evergreen will enter into a new twenty-year contract with HUD,
ensuring that long-term deep subsidy affordability remains in place for the residents.




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6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx   10 of 127
             Georgia Department of Community Affairs                                                                              2011 Funding Application                                                            Office of Affordable Housing

                                                  PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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.                                                   2011-015

I.        DCA RESOURCES                                  LIHTC (auto-filled based on later entries)                 $                950,000
                                                         DCA HOME (amount from Consent Form)                        $                      -

II.       TYPE OF APPLICATION                            Competitive Round                                 Other:
III.      APPLICANT CONTACT FOR APPLICATION REVIEW
          Name                                           Nick Bouquet                                                                                           Title       Development Associate
          Address                                        261 Gorham Road                                                                                        Direct Line             (207) 774-6989
          City                                           South Portland                                                                                         Fax                     (207) 774-6998
          State                                          ME                                             Zip+4             04106-2408                            Cellular                (207) 329-0188
          Office Phone                                   (207) 774-6989                                  Ext.           228       E-mail          nbouquet@evergreenpartnershousing.com
          (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)

IV.       PROJECT LOCATION
          Project Name                                   Briarcliff Summit Apartments                                                                              Phased Project?          No
          Site Street Address                            1050 Ponce de Leon Avenue NE                                                                              Scattered Site?          No
          City                                           Atlanta                                   9-digit Zip *        30306-4230                                 Acreage                  1.2
          Within City Limits?                            Yes                                       County        Fulton                                            Census Tract #           15
          In USDA Rural Area?                            No                                 HUD MSA/NonMSA Atlanta-Sandy Springs-Marietta                          QCT?          No               DDA? No
                                                               Congressional *              State Senate                State House
          Legislative Districts                                      5                           36                          57
          If on boundary, other district:
          Political Jurisdiction                         City of Atlanta (www.atlantaga.gov)
          Name of Chief Elected Official                 Kasim Read                                                                   Title       Mayor
          Address                                        55 Trinity Avenue                                                            City        Atlanta
          Zip+4                                          30303-3520                    Phone                      (404) 330-6100                        Fax            (404) 658-6893
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
          Adaptive Reuse
          Acquisition/Rehabilitation                           201      For Acquisition/Rehabilitation, date of original construction:
          Substantial Rehabilitation
          Historic Rehab                                       201




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                                                 PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

        C. Unit Breakdown                                                                          # of PBRA              D. Unit Area
           Number of Low Income Units                                                    200          Units                  Total Low Income Residential Square Footage                  107,522
                        Number of 50% Units                                              31             31                   Total Unrestricted (Market) Residential Square Footage
                        Number of 60% Units                                              169          169                    Total Residential Square Footage                             107,522
           Number of Unrestricted (Market) Units                                                                             Total Common Space Square Footage from Units
           Total Residential Units                                                       200                                 Total Square Footage from Units                              107,522
           Common Space Units                                                             1
           Total Units                                                                   201
        E. Buildings    Number of Residential Buildings                                   1                                  Total Common Area Square Footage from Nonresidential areas    55,717
                        Number of Non-Residential Buildings                                                                  Total Square Footage                                         163,239
                        Total Number of Buildings                                         1
        F. Total Residential Parking Spaces (min 1.5 per unit)                            40

VI.        TENANCY CHARACTERISTICS
        A. Family or Senior                                                          Senior (Elderly)                        If Other, specify:
        B. Mobility Impaired                             Nbr of Units Equipped:           14                                 % of Total Units                                              7.0%
        C. Sight / Hearing Impaired                      Nbr of Units Equipped:           4                                  % of Total Units                                              2.0%
        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

VIII.      SET ASIDES
                                                      Nonprofit                                   Rural                                     CHOICE Neighborhoods / HOPE VI
                                           Yes        Preservation                                Special Needs                             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 - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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:                                             1
      B. Amount of Federal Tax Credits in All Applications:                       1,375,000
      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
         See Tab 3-A for complete owner experience.




      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                                                                Yes
      A. Subsequent Allocation                                                       Yes
         Year of Original Allocation                                                1994
         Original GHFA/DCA Project Number                                        65-1548793
         First Year of Credit Period                                                1994                                  First Building ID Nbr in Project               GA-94-09101
         Expiring Tax Credit (15 Year)                                               Yes                                  Last Building ID Nbr in Project                GA-94-09101
         Date all buildings will complete 15 yr Compliance pd                    December 31, 2009
      B. Expiring Section 8                                                          Yes
      C. Expiring HUD or USDA
         HUD funded affordable nonpublic housing project                             Yes                                  HUD funded affordable public housing project      No
         USDA funded affordable nonpublic housing project                            No




             6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                                              Part I-Project Information                                                    13 of 127
               Georgia Department of Community Affairs                                                                           2011 Funding Application                                                              Office of Affordable Housing

                                                        PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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:          5
      C. Is there a Tenant Ownership Plan?                                                     No
      D. Is the Project Currently Occupied?                                                   Yes
         Total Existing Units                                                                 201
         Number Occupied                                                                      193
         % Existing Occupied                                                                96.02%
      E. Waivers and/or Pre-Approvals - have the following waivers and/or pre-approvals been approved by DCA?
         Amenities?                                                                                                                      Other Tenancy?
         Architectural Standards?                                                              No                                        Probationary Participation?
         HOME Consent?                                                                                                                   Service Requirement (for small rural projects)?
         Qualification Determination?                                                                                                    Payment & Performance Bond?
         Pre-determination of Qualification to Compete?                                       Yes
         Operating Expense?                                                                            ---------------------------> If Yes, new Limit is:
         Other (specify waiver):     Tax Credit Allocation Max of $950,000 has been waived    Yes
      F. Projected Place-In-Service Date
         Acquisition                                                                       May 1, 2012
         Rehab                                                                             May 1, 2013
         New Construction
XIII.    APPLICANT COMMENTS AND CLARIFICATIONS                                                                           XV.             DCA COMMENTS - DCA USE ONLY
On June 10, 2011 DCA Approved 1 of the 5 architectural waivers request we submitted prior to June 23, 2011. The remaining 4
architectural waivers remain under review. Please see the Threshold Determination (Section 13-18) and Tab 4-B for additional
information.
On March 8, 2011 DCA agreed to waive the $950,000 Tax Credit Allocation Max for the 2011 LIHTC competitive LIHTC round. A
copy of this waiver is included in Tab 4-G.




       Sta                               (Non)Metropolitan               FMR MSA                                  Tax-Exempt                                                                                                           Unincorporated
       te County Name   Utility Region   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
       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


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                                         PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

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                         Butts, Henry, Lamar and Spalding County Joint Development Authority   Ashburn        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
   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


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                                    PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

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
                                                                                 Y                     Crisp-Dooly Joint Development Authority                              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.                                            Y
                                                        Meriwether County, GA HUD 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.                       Monroe County, GA HUD Metro FMR Area
                                                                                 Y                     Development Authority of Elbert County, Elberton and Bowman                         Fulton
                                                                                                                                                                            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                            Development Authority of Emanuel County and the City of Swainsboro   Chauncey       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
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


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                                                     PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

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                          Development Authority of McDuffie County and the City of Thomson Cordele             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 County     Dasher         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                       Development Authority of the City of Jeffersonville and Twiggs County Dawsonville    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                          Development Authority of the City of Milledgeville and Baldwin County Dearing        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                                                                                              Denton
                                                                                                                       Development Authority of the Unified Government of Athens-Clarke County, Georgia     Jeff Davis      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
                                                                                                                       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


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                               PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                                                  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
                                                                                  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


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                               PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                                                  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
                                                                                                                                                     Hapeville
                                                                                  Downtown Development Authority of the Mayor and City Council of 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
                                                                                  Elberton Downtown Development Authority d/b/a MainStreet Elberton Hilltop           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
                                                                                  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


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                               PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                                                  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
                                                                                  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


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                               PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                                                  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
                                                                                  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


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                               PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                                                  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
                                                                                  Joint Development Authority of Baker, Dougherty, Terrell, and Lee Counties Mountain Harris             Pine Mountain Town        Candler-McAfee               Census Designated Place
                                                                                  Joint Development Authority of Bartow County and Pickens County         Pinehurst         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
                                                                                  Joint Development Authority of Carroll, Haralson, Polk, Heard and TroupPlains
                                                                                                                                                           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
                                                                                  Joint Development Authority of Franklin, Hart and Stephens Counties Pooler                Chatham      Pooler City               Druid Hills     DeKalb       Census Designated Place
                                                                                                                                                          Port
                                                                                  Joint Development Authority of Hazlehurst, Lumber City and Telfair County Wentworth Chatham            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


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                               PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                                                  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
                                                                                  Milledgeville MainStreet/The Downtown Development Authority of the City of MilledgevilleDodge             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
                                                                                  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


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                               PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                                                  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
                                                                                  The Downtown Development Authority of the City of Griffin, Georgia    St. 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
                                                                                  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


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                               PART ONE - PROJECT INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                                                                                                 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
                                                                                                                                 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.




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     Georgia Department of Community Affairs                                     2011 Funding Application                                                      Office of Affordable Housing
                                   PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

I.   OWNERSHIP INFORMATION

     A. OWNERSHIP ENTITY                            The Seven Fifty Limited Partnership                                                     Name of Principal    Brian M. Poulin
            Office Street Address                   261 Gorham Road, c/o Evergreen Partners Housing LLC                                     Title of Principal   Principal/Member
            City                                    South Portland                       Fed Tax ID:                                        Direct line          (954) 566-7450
            State                                       ME       Zip+4 *            04106-2408       HQ Congressional District *    1       Cellular             (207) 450-3297
            10-Digit Office Phone / Ext.            (954) 566-7450                           Fax                                     E-mail bpoulin@evergreenpartnershousing.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            Majestic Manor LLC                                                                      Name of Principal    Brian M. Poulin
              Office Street Address             261 Gorham Road, c/o Evergreen Partners Housing LLC                                     Title of Principal   Principal/Member
              City                              South Portland                                                                          Direct line          (956) 566-7450
              State                                 ME      Zip+4 *      04106-2408         HQ Congressional District *         1       Cellular             (207) 450-3297
              10-Digit Office Phone / Ext.      (956) 566-7450                     Fax                                           E-mail bpoulin@evergreenpartnershousing.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           Wells Fargo Community Lending and Investment (Proposed Limited Partner)                 Name of Principal     J. Frederick (Rick) Davis
              Office Street Address             301 South College Street                                                                Title of Principal    Managing Director
              City                              Charlotte                                                                               Direct line           (704) 383-0280
              State                                 NC       Zip+4       28288-5640                                                     Cellular
              10-Digit Office Phone / Ext.      (704) 383-0280                      Fax          (704) 715-0046                  E-mail rick.davis@wachovia.com
           b. State Limited Partner             Well Fargo Community Lending and Investment (Proposed Limited Partner)                  Name of Principal     J. Frederick (Rick) Davis
              Office Street Address             301 South College Street                                                                Title of Principal    Managing Director
              City                              Charlotte                                                                               Direct line           (704) 383-0280
              State                                 NC      Zip+4        28288-5640                                                     Cellular
              10-Digit Office Phone / Ext.      (704) 383-0280                      Fax          (704) 715-0045                  E-mail rick.davis@wachovia.com




     6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                          Part II-Development Team                                                                              26 of 127
   Georgia Department of Community Affairs                               2011 Funding Application                                             Office of Affordable Housing
                                 PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             Evergreen Partners II LLC                                                  Name of Principal    Brian M. Poulin
           Office Street Address            261 Gorham Road                                                            Title of Principal   Principal/Member
           City                             South Portland                                                             Direct line          (954) 566-7450
           State                                ME       Zip+4        04106-2408                                       Cellular             (207) 450-3297
           10-Digit Office Phone / Ext.     (954) 566-7450                     Fax                              E-mail bpoulin@evergreenpartnershousing.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




   6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                    Part II-Development Team                                                               27 of 127
   Georgia Department of Community Affairs                                 2011 Funding Application                                           Office of Affordable Housing
                                 PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                    The Whiting-Turner Contracting Company                                     Name of Principal      Carlos Cisneros
          Office Street Address             300 E. Joppa Road                                                          Title of Principal     Project Manager
          City                              Baltimore                                                                  Direct line            (443) 506-7471
          State                                 MD       Zip+4         21286-3020                                      Cellular               (443) 506-7471
          10-Digit Office Phone / Ext.      (800) 638-4279                      Fax                             E-mail carlos.cisneros@whiting-turner.com
   C. MANAGEMENT COMPANY                    Preservation Management, Inc.                                              Name of Principal    Brian M. Poulin
          Office Street Address             707 Sable Oaks Drive                                                       Title of Principal   Principal
          City                              South Portland                                                             Direct line          (954) 566-7450
          State                                 ME                    04106-3290                                       Cellular             (207) 450-3297
          10-Digit Office Phone / Ext.      (207) 774-0501        204          Fax           (207) 879-0901     E-mail bpoulin@evergreenpartnershousing.com
   D. ATTORNEY                              Arnall Golden Gregory LLP                                                  Name of Principal    Jeff Adams
          Office Street Address             171 17th Street NW                                                         Title of Principal   Partner
          City                              Atlanta                                                                    Direct line          (404) 873-7014
          State                                 GA       Zip+4        30363-1031                                       Cellular
          10-Digit Office Phone / Ext.      (404) 873-8500         7014        Fax           (404) 873-7015     E-mail jeffrey.adams@agg.com
   E. ACCOUNTANT                            Otis Atwell                                                                Name of Principal      Steve Atwell
          Office Street Address             324 Gannett Drive                                                          Title of Principal     Principal
          City                              South Portland                                                             Direct line            (207) 780-1100
          State                                 ME       Zip+4         04106-3263                                      Cellular
          10-Digit Office Phone / Ext.      (207) 780-1100                      Fax          (207) 780-1100     E-mail satwell@otisatwell.com
   F. ARCHITECT                             The Architectural Team, Inc.                                               Name of Principal      Mike Binette
           Office Street Address            50 Commandant's Way                                                        Title of Principal     Vice President - Principal
           City                             Chelsea                                                                    Direct line            (617) 889-4402
           State                                MA       Zip+4           02150-4015                                    Cellular
           10-Digit Office Phone / Ext.     (916) 889-4402           511          Fax        (617) 884-4329     E-mail mbinette@architecturalteam.com




   6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                      Part II-Development Team                                                             28 of 127
     Georgia Department of Community Affairs                                                    2011 Funding Application                                                    Office of Affordable Housing
                                         PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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 Ownership
                     withdrawn or been     entity a     principal, or agent for    an identity of interest with    an identity of interest with debarred or suspended      Organizational        Percentage
                   involuntarily removed MBE/            this entity ever been       any other entity in this       any member, officer, or     from any local, state, or Type (For Profit,
                 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                  0.0100%
Other GP1
Other GP2
Federal LP                 No                 No                  No                             No                             No                      No                  For Profit                99.9900%
State LP                   No                 No                  No                             No                             No                      No                  For Profit      (Same as Federal LP)
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                            No                              No                      No                  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
Section IV - #4 - Identity of Interest Disclosure: The principals of the managing general partner (Majestic Manor LLC), the developer
(Evergreen Partners II LLC) and the management company (Preservation Management, Inc.) are the same individuals and they have an
ownership interest in each of these entities.

Section IV - #8 - Project Ownership: Upon closing it is anticipated that a single limited partnership will purchase both the state and federal
low income housing and historic tax credits associated with Briarcliff Summit. It is expected their ownership % in The Seven Fifty Limited
Partnership will be 99.99% and that the GP (Majestic Manor LLC) will hold a 0.01% interest and serve as the managing member.




     6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                          Part II-Development Team                                                                         29 of 127
Georgia Department of Community Affairs                            2011 Funding Application                                        Office of Affordable Housing
                            PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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
                                                                                                                              RI


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Georgia Department of Community Affairs                            2011 Funding Application                                        Office of Affordable Housing
                            PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                                                                                              SC
                                                                                                                              SD
                                                                                                                              TN
                                                                                                                              TX
                                                                                                                              UT
                                                                                                                              VT
                                                                                                                              VA
                                                                                                                              WA
                                                                                                                              WV
                                                                                                                              WI
                                                                                                                              WY




6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                 Part II-Development Team                                                          31 of 127
      Georgia Department of Community Affairs                                                    2011 Funding Application                                                                Office of Affordable Housing
                                             PART THREE - SOURCES OF FUNDS - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County


I.     GOVERNMENT FUNDING SOURCES (check all that apply)

          Yes       Tax Credits                  No      DCA HOME* --> amt from DCA Consent Ltr:                                                 Yes       Historic Rehab Credits
           No       Tax Exempt Bonds             No      DCA PSHP HOME*                                     No      CDBG                         Yes       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*                  Yes       Atlanta Housing Opportunity Bond Program
       *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                                                               Grandbridge Real Estate Capital LLC                          7,144,800            6.700%                   480
       Mortgage B                                                               Atlanta Housing Opportunity Bond Program                     1,500,000            2.000%                   480
       Mortgage C
       Federal Grant
       State, Local, or Private Grant
       Deferred Developer Fees
       Federal Housing Credit Equity                                                                                                         9,850,234
       State Housing Credit Equity                                                                                                           2,897,106
       Other Type (specify)       Federal & State Historic Tax Credit Equity                                                                 2,426,617
       Other Type (specify)
       Other Type (specify)
       Total Construction Financing:                                                                                                       23,818,757
       Total Construction Period Costs from Development Budget:                                                                            23,818,757
       Surplus / (Shortage) of Construction funds to Construction costs:                                                                               0




      6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                           Part III A-Sources of Funds                                                                            32 of 127
       Georgia Department of Community Affairs                                           2011 Funding Application                                                         Office of Affordable Housing
                                         PART THREE - SOURCES OF FUNDS - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                        HUD Insured Loan                         7,144,800   6.250%          40          40                 486,766       Amortizing          n/a
        Mortgage B
        Mortgage C
        Other:                Loan        Atlanta Development Authority           1,500,000     2.000%           40        40                  54,509       Amortizing
        Grant from foundation or charity
        Deferred Devlpr Fee       24.05%                                            432,889     0.000%                                        308,118       Cash Flow          1.00
        Federal Grant                                                                                                                                                                            TC Equity
        State, Local, or Private Grant                                                             Equity Check           +/-                                                                    % of TDC
        Federal Housing Credit Equity     Wells Fargo                            11,686,331         8,075,000            3,611,331 Proposed DCA HOME Loan Interest Rate by Operating               42%
        State Housing Credit Equity       Wells Fargo                             3,437,156         2,375,000            1,062,156           Year for Projects in Rural Areas:                     12%
        Historic Credit Equity            Wells Fargo                             2,878,962                                         Year:       1 -7       8         9          10                 55%
        Invstmt Earnings: T-E Bonds                                                                                                 Rate:
        Invstmt Earnings: Taxable Bonds                                                                                              11         12        13         14         15
        Income from Operations                                                      586,332
        Other:                                                                                                                       16         17        18         19         20
        Other:
        Other:                                                                                                                       21         22        23         24         25
        Total Permanent Financing:                                          27,666,470
        Total Development Costs from Development Budget:                    27,666,470                                               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




       6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                Part III A-Sources of Funds                                                                       33 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
        PART III B: USD 538 LOAN - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                               34 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                    35 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                    36 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                    37 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                    38 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                    39 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                    40 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                    41 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                    42 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                    43 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                    44 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations




Georgia Department of Community Affairs        Part III B-USDA 538 Loan                45 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             46 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             47 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             48 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             49 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             50 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             51 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             52 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             53 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             54 of 127
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                             55 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
   PART III C - HUD INSURED LOAN - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                         I. Data Input

Loan Amount:                                                     $7,144,800.00 NOTE: If this section is completed,
                                                                               then Applicant must also complete
Interest Rate:                    Investor Rate                   6.000%       the "Additional HUD Requirements"
                                  Servicing Fee                   0.120%       section in the Threshold Criteria tab.
                                  GNMA Gty Fee                    0.130%
                                  Effective Rate                  6.250%

HUD Mortgage Insurance Premium                                     0.45%          per annum

Loan Term                                                            40           years

Amortization Period                                                  40           years

Annual Debt Service at Effective Rate                             $486,766.28 (Excluding MIP)

Monthly Debt Service at Effective Rate                              $40,563.86 (Excluding MIP)




                              II. HUD Mortgage Insurance Premium / Debt Service


  Year              MIP             Annual Debt Svc                Year                   MIP      Annual Debt Svc
    1            $32,151.60               $518,917.88                21               $24,973.36      $511,739.65
    2            $31,965.35               $518,731.64                22               $24,325.40      $511,091.68
    3            $31,767.12               $518,533.41                23               $23,635.75      $510,402.04
    4            $31,556.14               $518,322.43                24               $22,901.75      $509,668.04
    5            $31,331.60               $518,097.88                25               $22,120.54      $508,886.82
    6            $31,092.60               $517,858.89                26               $21,289.07      $508,055.35
    7            $30,838.24               $517,604.52                27               $20,404.12      $507,170.41
    8            $30,567.51               $517,333.80                28               $19,462.26      $506,228.54
    9            $30,279.37               $517,045.66                29               $18,459.81      $505,226.09
   10            $29,972.70               $516,738.98                30               $17,392.88      $504,159.16
   11            $29,646.30               $516,412.58                31               $16,257.32      $503,023.61
   12            $29,298.90               $516,065.19                32               $15,048.72      $501,815.01
   13            $28,929.16               $515,695.45                33               $13,762.39      $500,528.67
   14            $28,535.64               $515,301.93                34               $12,393.31      $499,159.60
   15            $28,116.81               $514,883.09                35               $10,936.17      $497,702.46
   16            $27,671.04               $514,437.32                36                $9,385.31      $496,151.59
   17            $27,196.59               $513,962.87                37                $7,734.69      $494,500.98
   18            $26,691.63               $513,457.91                38                $5,977.90      $492,744.19
   19            $26,154.18               $512,920.47                39                $4,108.12      $490,874.40
   20            $25,582.17               $512,348.45                40                $2,118.06      $488,884.34




Georgia Department of Community Affairs             Part III C-HUD Insured Loan                           page 56 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal          Balance        Year
Close                                                                               $7,144,800.00
       1            $40,563.86             $37,212.50                 $3,351.36     $7,141,448.64
       2            $40,563.86             $37,195.05                 $3,368.81     $7,138,079.83
       3            $40,563.86             $37,177.50                 $3,386.36     $7,134,693.47
       4            $40,563.86             $37,159.86                 $3,404.00     $7,131,289.48
       5            $40,563.86             $37,142.13                 $3,421.72     $7,127,867.75
       6            $40,563.86             $37,124.31                 $3,439.55     $7,124,428.21
       7            $40,563.86             $37,106.40                 $3,457.46     $7,120,970.75
       8            $40,563.86             $37,088.39                 $3,475.47     $7,117,495.28
       9            $40,563.86             $37,070.29                 $3,493.57     $7,114,001.71
      10            $40,563.86             $37,052.09                 $3,511.76     $7,110,489.95
      11            $40,563.86             $37,033.80                 $3,530.06     $7,106,959.89
      12            $40,563.86             $37,015.42                 $3,548.44     $7,103,411.45    1
      13            $40,563.86             $36,996.93                 $3,566.92     $7,099,844.53
      14            $40,563.86             $36,978.36                 $3,585.50     $7,096,259.03
      15            $40,563.86             $36,959.68                 $3,604.17     $7,092,654.85
      16            $40,563.86             $36,940.91                 $3,622.95     $7,089,031.91
      17            $40,563.86             $36,922.04                 $3,641.82     $7,085,390.09
      18            $40,563.86             $36,903.07                 $3,660.78     $7,081,729.31
      19            $40,563.86             $36,884.01                 $3,679.85     $7,078,049.46
      20            $40,563.86             $36,864.84                 $3,699.02     $7,074,350.44
      21            $40,563.86             $36,845.58                 $3,718.28     $7,070,632.16
      22            $40,563.86             $36,826.21                 $3,737.65     $7,066,894.51
      23            $40,563.86             $36,806.74                 $3,757.11     $7,063,137.40
      24            $40,563.86             $36,787.17                 $3,776.68     $7,059,360.71    2
      25            $40,563.86             $36,767.50                 $3,796.35     $7,055,564.36
      26            $40,563.86             $36,747.73                 $3,816.13     $7,051,748.23
      27            $40,563.86             $36,727.86                 $3,836.00     $7,047,912.23
      28            $40,563.86             $36,707.88                 $3,855.98     $7,044,056.25
      29            $40,563.86             $36,687.79                 $3,876.06     $7,040,180.19
      30            $40,563.86             $36,667.61                 $3,896.25     $7,036,283.94
      31            $40,563.86             $36,647.31                 $3,916.54     $7,032,367.39
      32            $40,563.86             $36,626.91                 $3,936.94     $7,028,430.45
      33            $40,563.86             $36,606.41                 $3,957.45     $7,024,473.00
      34            $40,563.86             $36,585.80                 $3,978.06     $7,020,494.94
      35            $40,563.86             $36,565.08                 $3,998.78     $7,016,496.16
      36            $40,563.86             $36,544.25                 $4,019.61     $7,012,476.55    3
      37            $40,563.86             $36,523.32                 $4,040.54     $7,008,436.01
      38            $40,563.86             $36,502.27                 $4,061.59     $7,004,374.42
      39            $40,563.86             $36,481.12                 $4,082.74     $7,000,291.68
      40            $40,563.86             $36,459.85                 $4,104.00     $6,996,187.68
      41            $40,563.86             $36,438.48                 $4,125.38     $6,992,062.30
      42            $40,563.86             $36,416.99                 $4,146.87     $6,987,915.43
      43            $40,563.86             $36,395.39                 $4,168.46     $6,983,746.97
      44            $40,563.86             $36,373.68                 $4,190.17     $6,979,556.80
      45            $40,563.86             $36,351.86                 $4,212.00     $6,975,344.80
      46            $40,563.86             $36,329.92                 $4,233.94     $6,971,110.86
      47            $40,563.86             $36,307.87                 $4,255.99     $6,966,854.87
      48            $40,563.86             $36,285.70                 $4,278.15     $6,962,576.72    4




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                    page 57 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal          Balance        Year
      49            $40,563.86             $36,263.42                 $4,300.44     $6,958,276.28
      50            $40,563.86             $36,241.02                 $4,322.83     $6,953,953.45
      51            $40,563.86             $36,218.51                 $4,345.35     $6,949,608.10
      52            $40,563.86             $36,195.88                 $4,367.98     $6,945,240.12
      53            $40,563.86             $36,173.13                 $4,390.73     $6,940,849.38
      54            $40,563.86             $36,150.26                 $4,413.60     $6,936,435.78
      55            $40,563.86             $36,127.27                 $4,436.59     $6,931,999.20
      56            $40,563.86             $36,104.16                 $4,459.69     $6,927,539.50
      57            $40,563.86             $36,080.93                 $4,482.92     $6,923,056.58
      58            $40,563.86             $36,057.59                 $4,506.27     $6,918,550.31
      59            $40,563.86             $36,034.12                 $4,529.74     $6,914,020.57
      60            $40,563.86             $36,010.52                 $4,553.33     $6,909,467.24
      61            $40,563.86             $35,986.81                 $4,577.05     $6,904,890.19
      62            $40,563.86             $35,962.97                 $4,600.89     $6,900,289.30    5
      63            $40,563.86             $35,939.01                 $4,624.85     $6,895,664.45
      64            $40,563.86             $35,914.92                 $4,648.94     $6,891,015.51
      65            $40,563.86             $35,890.71                 $4,673.15     $6,886,342.36
      66            $40,563.86             $35,866.37                 $4,697.49     $6,881,644.87
      67            $40,563.86             $35,841.90                 $4,721.96     $6,876,922.91
      68            $40,563.86             $35,817.31                 $4,746.55     $6,872,176.36
      69            $40,563.86             $35,792.59                 $4,771.27     $6,867,405.09
      70            $40,563.86             $35,767.73                 $4,796.12     $6,862,608.97
      71            $40,563.86             $35,742.76                 $4,821.10     $6,857,787.87
      72            $40,563.86             $35,717.65                 $4,846.21     $6,852,941.66
      73            $40,563.86             $35,692.40                 $4,871.45     $6,848,070.20
      74            $40,563.86             $35,667.03                 $4,896.82     $6,843,173.38    6
      75            $40,563.86             $35,641.53                 $4,922.33     $6,838,251.05
      76            $40,563.86             $35,615.89                 $4,947.97     $6,833,303.08
      77            $40,563.86             $35,590.12                 $4,973.74     $6,828,329.35
      78            $40,563.86             $35,564.22                 $4,999.64     $6,823,329.70
      79            $40,563.86             $35,538.18                 $5,025.68     $6,818,304.02
      80            $40,563.86             $35,512.00                 $5,051.86     $6,813,252.17
      81            $40,563.86             $35,485.69                 $5,078.17     $6,808,174.00
      82            $40,563.86             $35,459.24                 $5,104.62     $6,803,069.38
      83            $40,563.86             $35,432.65                 $5,131.20     $6,797,938.18
      84            $40,563.86             $35,405.93                 $5,157.93     $6,792,780.25    7
      85            $40,563.86             $35,379.06                 $5,184.79     $6,787,595.45
      86            $40,563.86             $35,352.06                 $5,211.80     $6,782,383.66
      87            $40,563.86             $35,324.91                 $5,238.94     $6,777,144.71
      88            $40,563.86             $35,297.63                 $5,266.23     $6,771,878.49
      89            $40,563.86             $35,270.20                 $5,293.66     $6,766,584.83
      90            $40,563.86             $35,242.63                 $5,321.23     $6,761,263.60
      91            $40,563.86             $35,214.91                 $5,348.94     $6,755,914.66
      92            $40,563.86             $35,187.06                 $5,376.80     $6,750,537.86
      93            $40,563.86             $35,159.05                 $5,404.81     $6,745,133.05
      94            $40,563.86             $35,130.90                 $5,432.96     $6,739,700.10
      95            $40,563.86             $35,102.60                 $5,461.25     $6,734,238.84
      96            $40,563.86             $35,074.16                 $5,489.70     $6,728,749.15    8




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                    page 58 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal          Balance        Year
      97            $40,563.86             $35,045.57                 $5,518.29     $6,723,230.86
      98            $40,563.86             $35,016.83                 $5,547.03     $6,717,683.83
      99            $40,563.86             $34,987.94                 $5,575.92     $6,712,107.91
     100            $40,563.86             $34,958.90                 $5,604.96     $6,706,502.95
     101            $40,563.86             $34,929.70                 $5,634.15     $6,700,868.79
     102            $40,563.86             $34,900.36                 $5,663.50     $6,695,205.29
     103            $40,563.86             $34,870.86                 $5,693.00     $6,689,512.30
     104            $40,563.86             $34,841.21                 $5,722.65     $6,683,789.65
     105            $40,563.86             $34,811.40                 $5,752.45     $6,678,037.20
     106            $40,563.86             $34,781.44                 $5,782.41     $6,672,254.78
     107            $40,563.86             $34,751.33                 $5,812.53     $6,666,442.25
     108            $40,563.86             $34,721.05                 $5,842.80     $6,660,599.45    9
     109            $40,563.86             $34,690.62                 $5,873.23     $6,654,726.22
     110            $40,563.86             $34,660.03                 $5,903.82     $6,648,822.39
     111            $40,563.86             $34,629.28                 $5,934.57     $6,642,887.82
     112            $40,563.86             $34,598.37                 $5,965.48     $6,636,922.33
     113            $40,563.86             $34,567.30                 $5,996.55     $6,630,925.78
     114            $40,563.86             $34,536.07                 $6,027.79     $6,624,898.00
     115            $40,563.86             $34,504.68                 $6,059.18     $6,618,838.82
     116            $40,563.86             $34,473.12                 $6,090.74     $6,612,748.08
     117            $40,563.86             $34,441.40                 $6,122.46     $6,606,625.62
     118            $40,563.86             $34,409.51                 $6,154.35     $6,600,471.27
     119            $40,563.86             $34,377.45                 $6,186.40     $6,594,284.87
     120            $40,563.86             $34,345.23                 $6,218.62     $6,588,066.24   10
     121            $40,563.86             $34,312.85                 $6,251.01     $6,581,815.23
     122            $40,563.86             $34,280.29                 $6,283.57     $6,575,531.66
     123            $40,563.86             $34,247.56                 $6,316.30     $6,569,215.37
     124            $40,563.86             $34,214.66                 $6,349.19     $6,562,866.17
     125            $40,563.86             $34,181.59                 $6,382.26     $6,556,483.91
     126            $40,563.86             $34,148.35                 $6,415.50     $6,550,068.41
     127            $40,563.86             $34,114.94                 $6,448.92     $6,543,619.49
     128            $40,563.86             $34,081.35                 $6,482.51     $6,537,136.98
     129            $40,563.86             $34,047.59                 $6,516.27     $6,530,620.71
     130            $40,563.86             $34,013.65                 $6,550.21     $6,524,070.51
     131            $40,563.86             $33,979.53                 $6,584.32     $6,517,486.18
     132            $40,563.86             $33,945.24                 $6,618.62     $6,510,867.57   11
     133            $40,563.86             $33,910.77                 $6,653.09     $6,504,214.48
     134            $40,563.86             $33,876.12                 $6,687.74     $6,497,526.74
     135            $40,563.86             $33,841.29                 $6,722.57     $6,490,804.17
     136            $40,563.86             $33,806.27                 $6,757.59     $6,484,046.58
     137            $40,563.86             $33,771.08                 $6,792.78     $6,477,253.80
     138            $40,563.86             $33,735.70                 $6,828.16     $6,470,425.64
     139            $40,563.86             $33,700.13                 $6,863.72     $6,463,561.92
     140            $40,563.86             $33,664.38                 $6,899.47     $6,456,662.44
     141            $40,563.86             $33,628.45                 $6,935.41     $6,449,727.04
     142            $40,563.86             $33,592.33                 $6,971.53     $6,442,755.51
     143            $40,563.86             $33,556.02                 $7,007.84     $6,435,747.67
     144            $40,563.86             $33,519.52                 $7,044.34     $6,428,703.33   12




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                    page 59 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal          Balance        Year
     145            $40,563.86             $33,482.83                 $7,081.03     $6,421,622.31
     146            $40,563.86             $33,445.95                 $7,117.91     $6,414,504.40
     147            $40,563.86             $33,408.88                 $7,154.98     $6,407,349.42
     148            $40,563.86             $33,371.61                 $7,192.25     $6,400,157.17
     149            $40,563.86             $33,334.15                 $7,229.71     $6,392,927.47
     150            $40,563.86             $33,296.50                 $7,267.36     $6,385,660.11
     151            $40,563.86             $33,258.65                 $7,305.21     $6,378,354.90
     152            $40,563.86             $33,220.60                 $7,343.26     $6,371,011.64
     153            $40,563.86             $33,182.35                 $7,381.50     $6,363,630.13
     154            $40,563.86             $33,143.91                 $7,419.95     $6,356,210.18
     155            $40,563.86             $33,105.26                 $7,458.60     $6,348,751.59
     156            $40,563.86             $33,066.41                 $7,497.44     $6,341,254.15   13
     157            $40,563.86             $33,027.37                 $7,536.49     $6,333,717.65
     158            $40,563.86             $32,988.11                 $7,575.74     $6,326,141.91
     159            $40,563.86             $32,948.66                 $7,615.20     $6,318,526.71
     160            $40,563.86             $32,908.99                 $7,654.86     $6,310,871.84
     161            $40,563.86             $32,869.12                 $7,694.73     $6,303,177.11
     162            $40,563.86             $32,829.05                 $7,734.81     $6,295,442.30
     163            $40,563.86             $32,788.76                 $7,775.10     $6,287,667.21
     164            $40,563.86             $32,748.27                 $7,815.59     $6,279,851.62
     165            $40,563.86             $32,707.56                 $7,856.30     $6,271,995.32
     166            $40,563.86             $32,666.64                 $7,897.21     $6,264,098.11
     167            $40,563.86             $32,625.51                 $7,938.35     $6,256,159.76
     168            $40,563.86             $32,584.17                 $7,979.69     $6,248,180.07   14
     169            $40,563.86             $32,542.60                 $8,021.25     $6,240,158.81
     170            $40,563.86             $32,500.83                 $8,063.03     $6,232,095.79
     171            $40,563.86             $32,458.83                 $8,105.02     $6,223,990.76
     172            $40,563.86             $32,416.62                 $8,147.24     $6,215,843.52
     173            $40,563.86             $32,374.19                 $8,189.67     $6,207,653.85
     174            $40,563.86             $32,331.53                 $8,232.33     $6,199,421.52
     175            $40,563.86             $32,288.65                 $8,275.20     $6,191,146.32
     176            $40,563.86             $32,245.55                 $8,318.30     $6,182,828.02
     177            $40,563.86             $32,202.23                 $8,361.63     $6,174,466.39
     178            $40,563.86             $32,158.68                 $8,405.18     $6,166,061.21
     179            $40,563.86             $32,114.90                 $8,448.95     $6,157,612.26
     180            $40,563.86             $32,070.90                 $8,492.96     $6,149,119.30   15
     181            $40,563.86             $32,026.66                 $8,537.19     $6,140,582.10
     182            $40,563.86             $31,982.20                 $8,581.66     $6,132,000.44
     183            $40,563.86             $31,937.50                 $8,626.35     $6,123,374.09
     184            $40,563.86             $31,892.57                 $8,671.28     $6,114,702.81
     185            $40,563.86             $31,847.41                 $8,716.45     $6,105,986.36
     186            $40,563.86             $31,802.01                 $8,761.84     $6,097,224.51
     187            $40,563.86             $31,756.38                 $8,807.48     $6,088,417.03
     188            $40,563.86             $31,710.51                 $8,853.35     $6,079,563.68
     189            $40,563.86             $31,664.39                 $8,899.46     $6,070,664.22
     190            $40,563.86             $31,618.04                 $8,945.81     $6,061,718.41
     191            $40,563.86             $31,571.45                 $8,992.41     $6,052,726.00
     192            $40,563.86             $31,524.61                 $9,039.24     $6,043,686.76   16




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                    page 60 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal          Balance        Year
     193            $40,563.86             $31,477.54                 $9,086.32     $6,034,600.43
     194            $40,563.86             $31,430.21                 $9,133.65     $6,025,466.79
     195            $40,563.86             $31,382.64                 $9,181.22     $6,016,285.57
     196            $40,563.86             $31,334.82                 $9,229.04     $6,007,056.53
     197            $40,563.86             $31,286.75                 $9,277.10     $5,997,779.43
     198            $40,563.86             $31,238.43                 $9,325.42     $5,988,454.01
     199            $40,563.86             $31,189.86                 $9,373.99     $5,979,080.01
     200            $40,563.86             $31,141.04                 $9,422.82     $5,969,657.20
     201            $40,563.86             $31,091.96                 $9,471.89     $5,960,185.31
     202            $40,563.86             $31,042.63                 $9,521.23     $5,950,664.08
     203            $40,563.86             $30,993.04                 $9,570.81     $5,941,093.27
     204            $40,563.86             $30,943.19                 $9,620.66     $5,931,472.60   17
     205            $40,563.86             $30,893.09                 $9,670.77     $5,921,801.83
     206            $40,563.86             $30,842.72                 $9,721.14     $5,912,080.69
     207            $40,563.86             $30,792.09                 $9,771.77     $5,902,308.92
     208            $40,563.86             $30,741.19                 $9,822.66     $5,892,486.26
     209            $40,563.86             $30,690.03                 $9,873.82     $5,882,612.44
     210            $40,563.86             $30,638.61                 $9,925.25     $5,872,687.18
     211            $40,563.86             $30,586.91                 $9,976.94     $5,862,710.24
     212            $40,563.86             $30,534.95                $10,028.91     $5,852,681.33
     213            $40,563.86             $30,482.72                $10,081.14     $5,842,600.19
     214            $40,563.86             $30,430.21                $10,133.65     $5,832,466.54
     215            $40,563.86             $30,377.43                $10,186.43     $5,822,280.12
     216            $40,563.86             $30,324.38                $10,239.48     $5,812,040.63   18
     217            $40,563.86             $30,271.04                $10,292.81     $5,801,747.82
     218            $40,563.86             $30,217.44                $10,346.42     $5,791,401.40
     219            $40,563.86             $30,163.55                $10,400.31     $5,781,001.09
     220            $40,563.86             $30,109.38                $10,454.48     $5,770,546.62
     221            $40,563.86             $30,054.93                $10,508.93     $5,760,037.69
     222            $40,563.86             $30,000.20                $10,563.66     $5,749,474.03
     223            $40,563.86             $29,945.18                $10,618.68     $5,738,855.35
     224            $40,563.86             $29,889.87                $10,673.99     $5,728,181.36
     225            $40,563.86             $29,834.28                $10,729.58     $5,717,451.79
     226            $40,563.86             $29,778.39                $10,785.46     $5,706,666.32
     227            $40,563.86             $29,722.22                $10,841.64     $5,695,824.69
     228            $40,563.86             $29,665.75                $10,898.10     $5,684,926.58   19
     229            $40,563.86             $29,608.99                $10,954.86     $5,673,971.72
     230            $40,563.86             $29,551.94                $11,011.92     $5,662,959.80
     231            $40,563.86             $29,494.58                $11,069.27     $5,651,890.52
     232            $40,563.86             $29,436.93                $11,126.93     $5,640,763.60
     233            $40,563.86             $29,378.98                $11,184.88     $5,629,578.72
     234            $40,563.86             $29,320.72                $11,243.13     $5,618,335.58
     235            $40,563.86             $29,262.16                $11,301.69     $5,607,033.89
     236            $40,563.86             $29,203.30                $11,360.56     $5,595,673.33
     237            $40,563.86             $29,144.13                $11,419.73     $5,584,253.61
     238            $40,563.86             $29,084.65                $11,479.20     $5,572,774.41
     239            $40,563.86             $29,024.87                $11,538.99     $5,561,235.41
     240            $40,563.86             $28,964.77                $11,599.09     $5,549,636.33   20




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                    page 61 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal          Balance        Year
     241            $40,563.86             $28,904.36                $11,659.50     $5,537,976.82
     242            $40,563.86             $28,843.63                $11,720.23     $5,526,256.60
     243            $40,563.86             $28,782.59                $11,781.27     $5,514,475.33
     244            $40,563.86             $28,721.23                $11,842.63     $5,502,632.69
     245            $40,563.86             $28,659.55                $11,904.31     $5,490,728.38
     246            $40,563.86             $28,597.54                $11,966.31     $5,478,762.07
     247            $40,563.86             $28,535.22                $12,028.64     $5,466,733.43
     248            $40,563.86             $28,472.57                $12,091.29     $5,454,642.14
     249            $40,563.86             $28,409.59                $12,154.26     $5,442,487.88
     250            $40,563.86             $28,346.29                $12,217.57     $5,430,270.32
     251            $40,563.86             $28,282.66                $12,281.20     $5,417,989.12
     252            $40,563.86             $28,218.69                $12,345.16     $5,405,643.95   21
     253            $40,563.86             $28,154.40                $12,409.46     $5,393,234.49
     254            $40,563.86             $28,089.76                $12,474.09     $5,380,760.40
     255            $40,563.86             $28,024.79                $12,539.06     $5,368,221.33
     256            $40,563.86             $27,959.49                $12,604.37     $5,355,616.96
     257            $40,563.86             $27,893.84                $12,670.02     $5,342,946.94
     258            $40,563.86             $27,827.85                $12,736.01     $5,330,210.94
     259            $40,563.86             $27,761.52                $12,802.34     $5,317,408.59
     260            $40,563.86             $27,694.84                $12,869.02     $5,304,539.57
     261            $40,563.86             $27,627.81                $12,936.05     $5,291,603.53
     262            $40,563.86             $27,560.44                $13,003.42     $5,278,600.11
     263            $40,563.86             $27,492.71                $13,071.15     $5,265,528.96
     264            $40,563.86             $27,424.63                $13,139.23     $5,252,389.73   22
     265            $40,563.86             $27,356.20                $13,207.66     $5,239,182.07
     266            $40,563.86             $27,287.41                $13,276.45     $5,225,905.62
     267            $40,563.86             $27,218.26                $13,345.60     $5,212,560.02
     268            $40,563.86             $27,148.75                $13,415.11     $5,199,144.91
     269            $40,563.86             $27,078.88                $13,484.98     $5,185,659.94
     270            $40,563.86             $27,008.65                $13,555.21     $5,172,104.72
     271            $40,563.86             $26,938.05                $13,625.81     $5,158,478.91
     272            $40,563.86             $26,867.08                $13,696.78     $5,144,782.13
     273            $40,563.86             $26,795.74                $13,768.12     $5,131,014.02
     274            $40,563.86             $26,724.03                $13,839.83     $5,117,174.19
     275            $40,563.86             $26,651.95                $13,911.91     $5,103,262.28
     276            $40,563.86             $26,579.49                $13,984.37     $5,089,277.92   23
     277            $40,563.86             $26,506.66                $14,057.20     $5,075,220.72
     278            $40,563.86             $26,433.44                $14,130.42     $5,061,090.30
     279            $40,563.86             $26,359.85                $14,204.01     $5,046,886.29
     280            $40,563.86             $26,285.87                $14,277.99     $5,032,608.30
     281            $40,563.86             $26,211.50                $14,352.36     $5,018,255.94
     282            $40,563.86             $26,136.75                $14,427.11     $5,003,828.83
     283            $40,563.86             $26,061.61                $14,502.25     $4,989,326.59
     284            $40,563.86             $25,986.08                $14,577.78     $4,974,748.81
     285            $40,563.86             $25,910.15                $14,653.71     $4,960,095.10
     286            $40,563.86             $25,833.83                $14,730.03     $4,945,365.07
     287            $40,563.86             $25,757.11                $14,806.75     $4,930,558.32
     288            $40,563.86             $25,679.99                $14,883.87     $4,915,674.46   24




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                    page 62 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal          Balance        Year
     289            $40,563.86             $25,602.47                $14,961.39     $4,900,713.07
     290            $40,563.86             $25,524.55                $15,039.31     $4,885,673.76
     291            $40,563.86             $25,446.22                $15,117.64     $4,870,556.12
     292            $40,563.86             $25,367.48                $15,196.38     $4,855,359.74
     293            $40,563.86             $25,288.33                $15,275.53     $4,840,084.22
     294            $40,563.86             $25,208.77                $15,355.09     $4,824,729.13
     295            $40,563.86             $25,128.80                $15,435.06     $4,809,294.07
     296            $40,563.86             $25,048.41                $15,515.45     $4,793,778.62
     297            $40,563.86             $24,967.60                $15,596.26     $4,778,182.36
     298            $40,563.86             $24,886.37                $15,677.49     $4,762,504.87
     299            $40,563.86             $24,804.71                $15,759.14     $4,746,745.73
     300            $40,563.86             $24,722.63                $15,841.22     $4,730,904.51   25
     301            $40,563.86             $24,640.13                $15,923.73     $4,714,980.78
     302            $40,563.86             $24,557.19                $16,006.67     $4,698,974.11
     303            $40,563.86             $24,473.82                $16,090.03     $4,682,884.08
     304            $40,563.86             $24,390.02                $16,173.84     $4,666,710.24
     305            $40,563.86             $24,305.78                $16,258.07     $4,650,452.17
     306            $40,563.86             $24,221.11                $16,342.75     $4,634,109.42
     307            $40,563.86             $24,135.99                $16,427.87     $4,617,681.55
     308            $40,563.86             $24,050.42                $16,513.43     $4,601,168.11
     309            $40,563.86             $23,964.42                $16,599.44     $4,584,568.67
     310            $40,563.86             $23,877.96                $16,685.90     $4,567,882.78
     311            $40,563.86             $23,791.06                $16,772.80     $4,551,109.98
     312            $40,563.86             $23,703.70                $16,860.16     $4,534,249.82   26
     313            $40,563.86             $23,615.88                $16,947.97     $4,517,301.85
     314            $40,563.86             $23,527.61                $17,036.24     $4,500,265.60
     315            $40,563.86             $23,438.88                $17,124.97     $4,483,140.63
     316            $40,563.86             $23,349.69                $17,214.17     $4,465,926.46
     317            $40,563.86             $23,260.03                $17,303.82     $4,448,622.64
     318            $40,563.86             $23,169.91                $17,393.95     $4,431,228.69
     319            $40,563.86             $23,079.32                $17,484.54     $4,413,744.15
     320            $40,563.86             $22,988.25                $17,575.61     $4,396,168.54
     321            $40,563.86             $22,896.71                $17,667.15     $4,378,501.40
     322            $40,563.86             $22,804.69                $17,759.16     $4,360,742.24
     323            $40,563.86             $22,712.20                $17,851.66     $4,342,890.58
     324            $40,563.86             $22,619.22                $17,944.64     $4,324,945.94   27
     325            $40,563.86             $22,525.76                $18,038.10     $4,306,907.85
     326            $40,563.86             $22,431.81                $18,132.05     $4,288,775.80
     327            $40,563.86             $22,337.37                $18,226.48     $4,270,549.32
     328            $40,563.86             $22,242.44                $18,321.41     $4,252,227.91
     329            $40,563.86             $22,147.02                $18,416.84     $4,233,811.07
     330            $40,563.86             $22,051.10                $18,512.76     $4,215,298.31
     331            $40,563.86             $21,954.68                $18,609.18     $4,196,689.13
     332            $40,563.86             $21,857.76                $18,706.10     $4,177,983.03
     333            $40,563.86             $21,760.33                $18,803.53     $4,159,179.50
     334            $40,563.86             $21,662.39                $18,901.46     $4,140,278.04
     335            $40,563.86             $21,563.95                $18,999.91     $4,121,278.13
     336            $40,563.86             $21,464.99                $19,098.87     $4,102,179.26   28




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                    page 63 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal          Balance        Year
     337            $40,563.86             $21,365.52                $19,198.34     $4,082,980.92
     338            $40,563.86             $21,265.53                $19,298.33     $4,063,682.59
     339            $40,563.86             $21,165.01                $19,398.84     $4,044,283.75
     340            $40,563.86             $21,063.98                $19,499.88     $4,024,783.87
     341            $40,563.86             $20,962.42                $19,601.44     $4,005,182.43
     342            $40,563.86             $20,860.33                $19,703.53     $3,985,478.90
     343            $40,563.86             $20,757.70                $19,806.15     $3,965,672.74
     344            $40,563.86             $20,654.55                $19,909.31     $3,945,763.43
     345            $40,563.86             $20,550.85                $20,013.01     $3,925,750.42
     346            $40,563.86             $20,446.62                $20,117.24     $3,905,633.18
     347            $40,563.86             $20,341.84                $20,222.02     $3,885,411.17
     348            $40,563.86             $20,236.52                $20,327.34     $3,865,083.83   29
     349            $40,563.86             $20,130.64                $20,433.21     $3,844,650.61
     350            $40,563.86             $20,024.22                $20,539.64     $3,824,110.98
     351            $40,563.86             $19,917.24                $20,646.61     $3,803,464.37
     352            $40,563.86             $19,809.71                $20,754.15     $3,782,710.22
     353            $40,563.86             $19,701.62                $20,862.24     $3,761,847.98
     354            $40,563.86             $19,592.96                $20,970.90     $3,740,877.08
     355            $40,563.86             $19,483.73                $21,080.12     $3,719,796.96
     356            $40,563.86             $19,373.94                $21,189.91     $3,698,607.04
     357            $40,563.86             $19,263.58                $21,300.28     $3,677,306.76
     358            $40,563.86             $19,152.64                $21,411.22     $3,655,895.55
     359            $40,563.86             $19,041.12                $21,522.73     $3,634,372.81
     360            $40,563.86             $18,929.03                $21,634.83     $3,612,737.98   30
     361            $40,563.86             $18,816.34                $21,747.51     $3,590,990.47
     362            $40,563.86             $18,703.08                $21,860.78     $3,569,129.68
     363            $40,563.86             $18,589.22                $21,974.64     $3,547,155.04
     364            $40,563.86             $18,474.77                $22,089.09     $3,525,065.95
     365            $40,563.86             $18,359.72                $22,204.14     $3,502,861.82
     366            $40,563.86             $18,244.07                $22,319.79     $3,480,542.03
     367            $40,563.86             $18,127.82                $22,436.03     $3,458,106.00
     368            $40,563.86             $18,010.97                $22,552.89     $3,435,553.11
     369            $40,563.86             $17,893.51                $22,670.35     $3,412,882.76
     370            $40,563.86             $17,775.43                $22,788.43     $3,390,094.33
     371            $40,563.86             $17,656.74                $22,907.12     $3,367,187.21
     372            $40,563.86             $17,537.43                $23,026.42     $3,344,160.79   31
     373            $40,563.86             $17,417.50                $23,146.35     $3,321,014.44
     374            $40,563.86             $17,296.95                $23,266.91     $3,297,747.53
     375            $40,563.86             $17,175.77                $23,388.09     $3,274,359.44
     376            $40,563.86             $17,053.96                $23,509.90     $3,250,849.54
     377            $40,563.86             $16,931.51                $23,632.35     $3,227,217.19
     378            $40,563.86             $16,808.42                $23,755.43     $3,203,461.76
     379            $40,563.86             $16,684.70                $23,879.16     $3,179,582.60
     380            $40,563.86             $16,560.33                $24,003.53     $3,155,579.07
     381            $40,563.86             $16,435.31                $24,128.55     $3,131,450.52
     382            $40,563.86             $16,309.64                $24,254.22     $3,107,196.30
     383            $40,563.86             $16,183.31                $24,380.54     $3,082,815.76
     384            $40,563.86             $16,056.33                $24,507.52     $3,058,308.23   32




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                    page 64 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal          Balance        Year
     385            $40,563.86             $15,928.69                $24,635.17     $3,033,673.06
     386            $40,563.86             $15,800.38                $24,763.48     $3,008,909.59
     387            $40,563.86             $15,671.40                $24,892.45     $2,984,017.13
     388            $40,563.86             $15,541.76                $25,022.10     $2,958,995.03
     389            $40,563.86             $15,411.43                $25,152.42     $2,933,842.61
     390            $40,563.86             $15,280.43                $25,283.43     $2,908,559.18
     391            $40,563.86             $15,148.75                $25,415.11     $2,883,144.07
     392            $40,563.86             $15,016.38                $25,547.48     $2,857,596.59
     393            $40,563.86             $14,883.32                $25,680.54     $2,831,916.05
     394            $40,563.86             $14,749.56                $25,814.29     $2,806,101.75
     395            $40,563.86             $14,615.11                $25,948.74     $2,780,153.01
     396            $40,563.86             $14,479.96                $26,083.89     $2,754,069.11   33
     397            $40,563.86             $14,344.11                $26,219.75     $2,727,849.37
     398            $40,563.86             $14,207.55                $26,356.31     $2,701,493.06
     399            $40,563.86             $14,070.28                $26,493.58     $2,674,999.48
     400            $40,563.86             $13,932.29                $26,631.57     $2,648,367.91
     401            $40,563.86             $13,793.58                $26,770.27     $2,621,597.64
     402            $40,563.86             $13,654.15                $26,909.70     $2,594,687.93
     403            $40,563.86             $13,514.00                $27,049.86     $2,567,638.08
     404            $40,563.86             $13,373.11                $27,190.74     $2,540,447.33
     405            $40,563.86             $13,231.50                $27,332.36     $2,513,114.97
     406            $40,563.86             $13,089.14                $27,474.72     $2,485,640.26
     407            $40,563.86             $12,946.04                $27,617.81     $2,458,022.44
     408            $40,563.86             $12,802.20                $27,761.66     $2,430,260.79   34
     409            $40,563.86             $12,657.61                $27,906.25     $2,402,354.54
     410            $40,563.86             $12,512.26                $28,051.59     $2,374,302.94
     411            $40,563.86             $12,366.16                $28,197.70     $2,346,105.25
     412            $40,563.86             $12,219.30                $28,344.56     $2,317,760.69
     413            $40,563.86             $12,071.67                $28,492.19     $2,289,268.50
     414            $40,563.86             $11,923.27                $28,640.58     $2,260,627.92
     415            $40,563.86             $11,774.10                $28,789.75     $2,231,838.16
     416            $40,563.86             $11,624.16                $28,939.70     $2,202,898.46
     417            $40,563.86             $11,473.43                $29,090.43     $2,173,808.04
     418            $40,563.86             $11,321.92                $29,241.94     $2,144,566.10
     419            $40,563.86             $11,169.62                $29,394.24     $2,115,171.86
     420            $40,563.86             $11,016.52                $29,547.34     $2,085,624.52   35
     421            $40,563.86             $10,862.63                $29,701.23     $2,055,923.29
     422            $40,563.86             $10,707.93                $29,855.92     $2,026,067.37
     423            $40,563.86             $10,552.43                $30,011.42     $1,996,055.94
     424            $40,563.86             $10,396.12                $30,167.73     $1,965,888.21
     425            $40,563.86             $10,239.00                $30,324.86     $1,935,563.35
     426            $40,563.86             $10,081.06                $30,482.80     $1,905,080.56
     427            $40,563.86              $9,922.29                $30,641.56     $1,874,438.99
     428            $40,563.86              $9,762.70                $30,801.15     $1,843,637.84
     429            $40,563.86              $9,602.28                $30,961.58     $1,812,676.26
     430            $40,563.86              $9,441.02                $31,122.83     $1,781,553.43
     431            $40,563.86              $9,278.92                $31,284.93     $1,750,268.50
     432            $40,563.86              $9,115.98                $31,447.88     $1,718,820.62   36




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                    page 65 of 127
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal          Balance         Year
     433            $40,563.86               $8,952.19               $31,611.67     $1,687,208.95
     434            $40,563.86               $8,787.55               $31,776.31     $1,655,432.64
     435            $40,563.86               $8,622.05               $31,941.81     $1,623,490.83
     436            $40,563.86               $8,455.68               $32,108.18     $1,591,382.66
     437            $40,563.86               $8,288.45               $32,275.41     $1,559,107.25
     438            $40,563.86               $8,120.35               $32,443.51     $1,526,663.74
     439            $40,563.86               $7,951.37               $32,612.48     $1,494,051.26
     440            $40,563.86               $7,781.52               $32,782.34     $1,461,268.92
     441            $40,563.86               $7,610.78               $32,953.08     $1,428,315.84
     442            $40,563.86               $7,439.14               $33,124.71     $1,395,191.13
     443            $40,563.86               $7,266.62               $33,297.24     $1,361,893.89
     444            $40,563.86               $7,093.20               $33,470.66     $1,328,423.23    37
     445            $40,563.86               $6,918.87               $33,644.99     $1,294,778.24
     446            $40,563.86               $6,743.64               $33,820.22     $1,260,958.02
     447            $40,563.86               $6,567.49               $33,996.37     $1,226,961.66
     448            $40,563.86               $6,390.43               $34,173.43     $1,192,788.23
     449            $40,563.86               $6,212.44               $34,351.42     $1,158,436.81
     450            $40,563.86               $6,033.53               $34,530.33     $1,123,906.48
     451            $40,563.86               $5,853.68               $34,710.18     $1,089,196.30
     452            $40,563.86               $5,672.90               $34,890.96     $1,054,305.34
     453            $40,563.86               $5,491.17               $35,072.68     $1,019,232.65
     454            $40,563.86               $5,308.50               $35,255.35       $983,977.30
     455            $40,563.86               $5,124.88               $35,438.98       $948,538.33
     456            $40,563.86               $4,940.30               $35,623.55       $912,914.77    38
     457            $40,563.86               $4,754.76               $35,809.09       $877,105.68
     458            $40,563.86               $4,568.26               $35,995.60       $841,110.08
     459            $40,563.86               $4,380.78               $36,183.08       $804,927.01
     460            $40,563.86               $4,192.33               $36,371.53       $768,555.48
     461            $40,563.86               $4,002.89               $36,560.96       $731,994.51
     462            $40,563.86               $3,812.47               $36,751.39       $695,243.13
     463            $40,563.86               $3,621.06               $36,942.80       $658,300.33
     464            $40,563.86               $3,428.65               $37,135.21       $621,165.12
     465            $40,563.86               $3,235.23               $37,328.62       $583,836.50
     466            $40,563.86               $3,040.82               $37,523.04       $546,313.46
     467            $40,563.86               $2,845.38               $37,718.47       $508,594.98
     468            $40,563.86               $2,648.93               $37,914.92       $470,680.06    39
     469            $40,563.86               $2,451.46               $38,112.40       $432,567.66
     470            $40,563.86               $2,252.96               $38,310.90       $394,256.76
     471            $40,563.86               $2,053.42               $38,510.44       $355,746.32
     472            $40,563.86               $1,852.85               $38,711.01       $317,035.31
     473            $40,563.86               $1,651.23               $38,912.63       $278,122.68
     474            $40,563.86               $1,448.56               $39,115.30       $239,007.38
     475            $40,563.86               $1,244.83               $39,319.03       $199,688.35
     476            $40,563.86               $1,040.04               $39,523.81       $160,164.54
     477            $40,563.86                 $834.19               $39,729.67       $120,434.87
     478            $40,563.86                 $627.26               $39,936.59        $80,498.28
     479            $40,563.86                 $419.26               $40,144.60        $40,353.68
     480            $40,563.86                 $210.18               $40,353.68            ($0.00)   40




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                     page 66 of 127
      Georgia Department of Community Affairs                                       2011 Funding Application                                    Office of Affordable Housing
                                            PART FOUR - USES OF FUNDS - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                                                            10,000                                                 10,000
  Environmental Report(s)                                                                  5,730                                                  5,730
  Soil Borings
  Boundary and Topographical Survey                                                       10,000                                                 10,000
  Zoning/Site Plan Fees
  Other: Environmental Testing During Renovations                                         35,000                                                 35,000
  Other: Capital Needs Assessment                                                          7,500                                                  7,500
  Other: Travel Expenses                                                                  15,000                                                 15,000
                                                                         Subtotal         83,230                -               -                83,230               -
  ACQUISITION                                                                                                                  ACQUISITION
  Land                                                                                  2,000,000
  Site Demolition
  Acquisition Legal Fees (if existing structures)                                          30,000                             30,000
  Existing Structures                                                                   7,700,000                          7,700,000
                                                                         Subtotal       9,730,000                          7,730,000                                  -
  LAND IMPROVEMENTS                                                                                                        LAND IMPROVEMENTS
  Site Construction (On-site)                                                             35,000                                            35,000
  Site Construction (Off-site)
                                                                         Subtotal         35,000                -               -                35,000               -
  STRUCTURES                                                                                                                   STRUCTURES
  Residential Structures - New Construction
  Residential Structures - Rehab                                                        9,993,199                                             9,993,199
  Accessory Structures (ie. community building, maintenance building, etc.)
                                                                        Subtotal        9,993,199               -              -          9,993,199                   -
  CONTRACTOR SERVICES                                   14.00%                                                            CONTRACTOR SERVICES
  Builder Profit:                                        6.00%           601,692          601,691                                           601,691
  General Requirements* and Builder Overhead             8.00%           802,256          802,256                                           802,256
  *Refer to General Requirements policy in QAP                          Subtotal        1,403,947               -              -          1,403,947                   -
  Total Construction Hard Costs                56,876.35            per unit
  11,432,146.00                                   106.32            per sq ft
  CONSTRUCTION CONTINGENCY                                                                                            CONSTRUCTION CONTINGENCY
  Construction Contingency                                             4.3736%           500,000                                          500,000




      6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                             Part IV-Uses of Funds                                                          67 of 127
      Georgia Department of Community Affairs                                    2011 Funding Application                                    Office of Affordable Housing
                                         PART FOUR - USES OF FUNDS - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                                               293,582                            21,434
  Construction Loan Interest                                                          476,550                                             95,310
  Construction Legal Fees                                                              30,000
  Construction Period Real Estate Tax                                                 177,691                                                 35,538
  Construction Insurance                                                               57,455                                                 11,491
  Bridge Loan Fee and Bridge Loan Interest
  Payment and Performance bonds                                                         75,211                                            75,211
  Other: Lender Plan Review & Property Inspection                                       20,000                                            20,000
                                                                     Subtotal        1,130,489               -           21,434          237,550                   -
  PROFESSIONAL SERVICES                                                                                               PROFESSIONAL SERVICES
  Architectural Fee - Design                                                          393,750                                            393,750
  Architectural Fee - Supervision                                                     131,250                                            131,250
  Green Building Consultant Fee
  Green Building Program Certification Fee (LEED or Earthcraft)
  Accessibility Inspections and Plan Review
  Construction Materials Testing
  Engineering
  Real Estate Attorney                                                                160,000                                           80,000
  Accounting                                                                           10,000                                           10,000
  Other: Historic Rehab Consultant                                                     50,000                                           50,000
                                                                     Subtotal         745,000                -              -          665,000                     -
  LOCAL GOVERNMENT FEES                                                                                              LOCAL GOVERNMENT FEES
  Building Permits                                                                     50,142                                           50,142
  Impact Fees
  Water Tap Fees                             waived?
  Sewer Tap Fees                             waived?
                                                                      Subtotal         50,142                -             -             50,142                    -
  PERMANENT FINANCING FEES                                                                                          PERMANENT FINANCING FEES
  Permanent Loan Fees
  Permanent Loan Legal Fees
  Title and Recording Fees
  As-Built Survey
  Bond Issuance Premium
  Cost of Issuance / Underwriter's Discount
  Other: <Enter detailed description here; use Comments section if needed>
                                                                      Subtotal             -                 -                -                  -                 -
      6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                          Part IV-Uses of Funds                                                          68 of 127
Georgia Department of Community Affairs                             2011 Funding Application                                 Office of Affordable Housing
                                PART FOUR - USES OF FUNDS - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                           CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS




6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                     Part IV-Uses of Funds                                                    69 of 127
      Georgia Department of Community Affairs                                     2011 Funding Application                                   Office of Affordable Housing
                                         PART FOUR - USES OF FUNDS - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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
  DCA Waiver Fees                                                                        7,500
  LIHTC Allocation Processing Fee                                        66,500         96,250
  LIHTC Compliance Monitoring Fee                                       140,700        140,700
  DCA Front End Analysis Fee (HOME, when ID of Interest)
  DCA Final Inspection Fee (Tax Credit only - no HOME)
  Other: <Enter detailed description here; use Comments section if needed>
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal        248,450                                                                     -
  EQUITY COSTS                                                                                                             EQUITY COSTS
  Partnership Organization Fees
  Tax Credit Legal Opinion
  Syndicator Legal Fees
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal             -                                                                      -
  DEVELOPER'S FEE                                                                                                        DEVELOPER'S FEE
  Developer's Overhead                                               30.000%           540,000                           145,500         394,500
  Consultant's Fee                                                   0.000%
  Developer's Profit                                                 70.000%          1,260,000                          339,500         920,500
                                                                       Subtotal       1,800,000               -          485,000       1,315,000                   -
  START-UP AND RESERVES                                                                                               START-UP AND RESERVES
  Marketing
  Rent-Up Reserves                                                                     307,785
  Operating Deficit Reserve:                                                           902,283
  Replacement Reserve
  Furniture, Fixtures and Equipment                  Per Unit: 24875.622%                50,000                                               50,000
  Other: Pre-paid Tax and Insurance Reserve                                             235,145
                                                                       Subtotal       1,495,213               -              -                50,000               -
  OTHER COSTS                                                                                                               OTHER COSTS
  Relocation                                                                           261,050                                               261,050
  Other: City of Atlanta Loan Repayment                                                190,750
                                                                       Subtotal        451,800                -               -              261,050               -
  TOTAL DEVELOPMENT COST                                                             27,666,470               -         8,236,434         14,594,118               -
  Total Per Unit Cost Limitation:           27,201,391           TDC Per Unit:       137,644.13   TDC Per Sq Ft:           257.31



      6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                           Part IV-Uses of Funds                                                         70 of 127
      Georgia Department of Community Affairs                                    2011 Funding Application                                            Office of Affordable Housing
                                            PART FOUR - USES OF FUNDS - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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)                                                                                              3,101,420
  Other <Enter detailed description here; use Comments section if needed>
  Total Subtractions From Basis:                                                                              0                                3,101,420
  Eligible Basis Calculation
  Total Basis                                                                                                 0         8,236,434             14,594,118
  Less Total Subtractions From Basis (see above)                                                              0                               3,101,420
  Total Eligible Basis                                                                                        0         8,236,434             11,492,698
  Eligible Basis Adjustment (DDA/QCT Location or State Designated Boost)         Type: State Boost                                             130.00%
  Adjusted Eligible Basis                                                                                  0            8,236,434             14,940,507
  Multiply Adjusted Eligible Basis by Applicable Fraction                                               100.00%          100.00%               100.00%
  Qualified Basis                                                                                          0            8,236,434             14,940,507
  Multiply Qualified Basis by Applicable Credit Percentage                                                                3.31%                  9.00%
  Maximum Tax Credit Amount                                                                                   0          272,626              1,344,646
  Total Basis Method Tax Credit Calculation                                                                             1,617,272

III. TAX CREDIT CALCULATION - GAP METHOD                                                               Maximum TDC           TDC exceeds PUCL!                     If Historic Designation
  Equity Gap Calculation                                                                                27,201,391   If TDC > PUCL, provide amount of grant from   or Brownfield
                                                                                                                     foundation or charitable org to cover the Development involved,
  Total Development Cost (TDC or PUCL; explain in Comments if TDC > PUCL)                               27,666,470   cost exceeding the PUCL:                     indicate below:


  Subtract Non-LIHTC (excluding deferred fee) Source of Funds                                           12,110,094                                                                 Y/N

  Equity Gap                                                                                            15,556,376       Grant Amt        Foundtn / Charitble Org Hist Desig      Yes
  Divide Equity Gap by 10                                                                                   / 10                                                  Brownfld
  Annual Equity Required                                                                                 1,555,638              Federal                 State
  Enter Final Federal and State Equity Factors (not including GP contribution)                            1.1000        =       0.8500         +       0.2500
  Total Gap Method Tax Credit Calculation                                                                1,414,216

  TAX CREDIT PROJECT MAXIMUM - Lower of Basis Method, Gap Method and DCA Limit:                          950,000

  TAX CREDIT REQUEST - Cannot exceed Tax Credit Project Maximum, but may be lower:                      1,375,000    ALLOCATION CANNOT EXCEED MAXIMUM - REVISE ALLOCATION!


      6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                            Part IV-Uses of Funds                                                                           71 of 127
      Georgia Department of Community Affairs                             2011 Funding Application                                 Office of Affordable Housing
                                      PART FOUR - USES OF FUNDS - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                 CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
IV. TAX CREDIT ALLOCATION - Lower of Tax Credit Request and Tax Credit Project Maximum     950,000




      6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                     Part IV-Uses of Funds                                                    72 of 127
         Georgia Department of Community Affairs                                                 2011 Funding Application                                         Office of Affordable Housing
                                                 PART FOUR - USES OF FUNDS - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                               CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                            VI.   DCA COMMENTS - DCA USE ONLY
Development Budget Project Amenities: As part of our renovation of Briarcliff Summit we will be adding the following amenities to
the property: Wellness Center, Fitness Center, Arts/Crafts Center, Sitting Areas where possible on each floor and a Computer
Center. The location of the these amenities within the building can be found in the project drawings included under Tab 13. We
have included $50,000 in FF/E to outfit the above facilities. A breakdown of this budget is include under Tab 39-B.



Development Budget - Construction Loan Fee: Below is a breakdown of the various fees which we have included in the line item:
HUD 221(d)(4) LOAN FEES:
A.) Grandbridge Financing Fees (1.50% of Loan AMT): $107,172
B.) Grandbridge Engagement Fee: $2,500
C.) Grandbridge Lender Fee: $10,000
D.) MIP: (90 bps of Loan AMT): $64,303
E.) Ginnie Mae Placement Fee: $1,700
F.) FHA HUD Inspection Fee: $58,038
G.) FHA Application Fee (30 bps of Loan AMT): $21,434
ATLANTA DEVELOPMENT AUTHORITY - HOUSING OPPORTUNITY BOND PROGRAM FEES:
A.) Application Fee: $1,500
B.) Commitment Fee: $1,500
C.) Initial Asset Management Fee: $4,000
OTHER:
A.) Georgia Intangible Mortgage Tax (30 bps of Loan AMT): $21,434
NOTE: Permanent Financing Fees do not apply to the project as a result of our utilization of the HUD 221(d)(4) Loan program. All
project financing fees will be paid during the construction period.




Development Budget - Professional Services: Real Estate Attorney: A breadown of the legal costs associated with this transaction
are as follows:
A.) Borrower's General Counsel: $90,000
B.) Borrower's Special Counsel: $50,000
C.) Borrower's Local Counsel: $20,000 (The costs for preparation of the legal opinion is carried within this number)




         6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                           Part IV-Uses of Funds                                                          73 of 127
         Georgia Department of Community Affairs                                                    2011 Funding Application                    Office of Affordable Housing
                                                   PART FOUR - USES OF FUNDS - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                 CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
Out Total Development Cost equals $27,666,470 which exceeds the DCA project maximum of $27,201,391. Briarcliff is an
existing property and has been listed on the national historic register since 1982. The property suffers from significant deferred
maintenance and is in desperate need of substantial renovation in order to bring it up to current housing standards and to create
modern and safe housing for its residents. The signficant renovation needs resulted in a renovation budget of $57,500 per unit.
The additional project costs will be funded through non-DCA resources such as the Atlanta Housing Authority Loan and the
Historic Tax Credit Equity. Given the extrodinary renovation needs of the property, coupled with the additional project costs
associated with a historic project, the total development cost listed above is what we believe is required in order to make the
transaction feasible and to ensure we are able to deliver a high quality, modernized property, to the market place that will be able
to serve the needs of low-income elderly and disabled individuals for many years to come. Additional information about the
signficant need of the property and its importance to the community is detailed in the Superior Project Concept Narrative found
under Tab 39-B.




         6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                              Part IV-Uses of Funds                                     74 of 127
Georgia Department of Community Affairs                                2011 Funding Application                                               Office of Affordable Housing



                        PART FIVE - UTILITY ALLOWANCES - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

                                                             DCA Utility Region for project:          Middle

    I. UTILITY ALLOWANCE SCHEDULE #1                         Source of Utility Allowances             Atlanta Housing Authority
                                                             Date of Utility Allowances               July 1, 2010              Structure MF
                                                              Paid By (check one)                     Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
       Utility              Fuel                               Tenant     Owner                           0          1           2          3          4
       Heat                 Natural Gas                                     X                             0          0           0
       Air Conditioning     Electric                             X                                       15         15          26
       Cooking              Electric                             X                                        8          8          10
       Hot Water            Natural Gas                                     X                             0          0           0
       Lights               Electric                             X                                       33         33           p
       Water & Sewer        Submetered?                No                   X                             0          0           0
       Refuse Collection
       Total Utility Allowance by Unit Size                                                               56            56            36            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
       Our renovation plan includes installing indivdual electric meters for each unit and installing water-source heat pumps to serve as HVAC in the units.
       After renovation, tenants will be responsible for paying unit electric costs. The utility conversion is further detailed in Tab 7.
       DCA COMMENTS




6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                      Part V-Utility Allowances                                                            page 75 of 127
                                          Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               2011 Funding Application                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Of f ice of Af f ordable Housing




                                                 PART SIX - PROJECTED REVENUES & EXPENSES - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                                                                                     71,800                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Efficiency                                           Efficiency                                           Efficiency
     Are 100% of units HUD PBRA?                                    Yes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      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
         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
         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
        50% AMI      Efficiency     1.0    7           390         598         906              56          HUD            850        5,950      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                                                                                7                                                                                                                                                                                                           7                                                                                                                                                                                                                                                                                                                                                                                                                      2730                                                                                                                                                           2730                                                                                                                                                                                                                                                                               7
        50% AMI      Efficiency     1.0    7           436         598         906              56          HUD            850        5,950      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                                                                                7                                                                                                                                                                                                           7                                                                                                                                                                                                                                                                                                                                                                                                                      3052                                                                                                                                                           3052                                                                                                                                                                                                                                                                               7
        50% AMI           1         1.0    7           599         641        1,031             56          HUD            975        6,825      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                                                                            7                                                                                                                                                                                                           7                                                                                                                                                                                                                                                                                                                                                                                                                     4193                                                                                                                                                           4193                                                                                                                                                                                                                                                                                7
        50% AMI           1         1.0    6           695         641        1,031             56          HUD            975        5,850      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                                                                            6                                                                                                                                                                                                           6                                                                                                                                                                                                                                                                                                                                                                                                                     4170                                                                                                                                                           4170                                                                                                                                                                                                                                                                                6
        50% AMI           2         1.0    4           780         768        1,152             77          HUD          1,075        4,300      No        3+ Story       Acquisition/Rehab          46,080        71.31%                                                                                                            4                                                                                                                                                                                                              4                                                                                                                                                                                                                                                                                                                                                                                                                  3120                                                                                                                                                            3120                                                                                                                                                                                                                                                                                  4
        60% AMI      Efficiency     1.0    8           318         718         906              56          HUD            850        6,800      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                             8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                            2544                                                                                                                                                                                                                               2544                                                                                                                                                                                                                                                                                8
        60% AMI      Efficiency     1.0    8           346         718         906              56          HUD            850        6,800      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                             8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                            2768                                                                                                                                                                                                                               2768                                                                                                                                                                                                                                                                                8
        60% AMI      Efficiency     1.0    8           349         718         906              56          HUD            850        6,800      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                             8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                            2792                                                                                                                                                                                                                               2792                                                                                                                                                                                                                                                                                8
        60% AMI      Efficiency     1.0    1           390         718         906              56          HUD            850          850      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                             1                                                                                                                                                                                                                                                                                                                   1                                                                                                                                                                                                                                                                                             390                                                                                                                                                                                                                                390                                                                                                                                                                                                                                                                                1
        60% AMI      Efficiency     1.0    8           391         718         906              56          HUD            850        6,800      No        3+ Story       Acquisition/Rehab          36,240         #N/A                                     8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                            3128                                                                                                                                                                                                                               3128                                                                                                                                                                                                                                                                                8
        60% AMI      Efficiency     1.0    8           395         718         906              56          HUD            850        6,800      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                             8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                            3160                                                                                                                                                                                                                               3160                                                                                                                                                                                                                                                                                8
        60% AMI      Efficiency     1.0    8           400         718         906              56          HUD            850        6,800      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                             8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                            3200                                                                                                                                                                                                                               3200                                                                                                                                                                                                                                                                                8
        60% AMI      Efficiency     1.0    1           426         718         906              56          HUD            850          850      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                             1                                                                                                                                                                                                                                                                                                                   1                                                                                                                                                                                                                                                                                             426                                                                                                                                                                                                                                426                                                                                                                                                                                                                                                                                1
        60% AMI      Efficiency     1.0    8           429         718         906              56          HUD            850        6,800      No        3+ Story       Acquisition/Rehab          36,240         #N/A                                     8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                            3432                                                                                                                                                                                                                               3432                                                                                                                                                                                                                                                                                8
        60% AMI      Efficiency     1.0    8           432         718         906              56          HUD            850        6,800      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                             8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                            3456                                                                                                                                                                                                                               3456                                                                                                                                                                                                                                                                                8
        60% AMI      Efficiency     1.0    1           436         718         906              56          HUD            850          850      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                             1                                                                                                                                                                                                                                                                                                                   1                                                                                                                                                                                                                                                                                             436                                                                                                                                                                                                                                436                                                                                                                                                                                                                                                                                1
        60% AMI      Efficiency     1.0    8           458         718         906              56          HUD            850        6,800      No        3+ Story       Acquisition/Rehab          36,240         #N/A
                                                                                                                                                                                                                                                             8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                            3664                                                                                                                                                                                                                               3664                                                                                                                                                                                                                                                                                8
        60% AMI           1         1.0    1           552         769        1,031             56          HUD            975          975      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         1                                                                                                                                                                                                                                                                                                                   1                                                                                                                                                                                                                                                                                                552                                                                                                                                                                                                                             552                                                                                                                                                                                                                                                                                1
        60% AMI           1         1.0    9           565         769        1,031             56          HUD            975        8,775      No        3+ Story       Acquisition/Rehab          41,240        76.58%                                                9                                                                                                                                                                                                                                                                                                                   9                                                                                                                                                                                                                                                                                               5085                                                                                                                                                                                                                            5085                                                                                                                                                                                                                                                                                9
        60% AMI           1         1.0    8           573         769        1,031             56          HUD            975        7,800      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                               4584                                                                                                                                                                                                                            4584                                                                                                                                                                                                                                                                                8
        60% AMI           1         1.0    8           594         769        1,031             56          HUD            975        7,800      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                               4752                                                                                                                                                                                                                            4752                                                                                                                                                                                                                                                                                8
        60% AMI           1         1.0    8           598         769        1,031             56          HUD            975        7,800      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                               4784                                                                                                                                                                                                                            4784                                                                                                                                                                                                                                                                                8
        60% AMI           1         1.0    1           599         769        1,031             56          HUD            975          975      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         1                                                                                                                                                                                                                                                                                                                   1                                                                                                                                                                                                                                                                                                599                                                                                                                                                                                                                             599                                                                                                                                                                                                                                                                                1
        60% AMI           1         1.0    1           600         769        1,031             56          HUD            975          975      No        3+ Story       Acquisition/Rehab          41,240        76.58%                                                1                                                                                                                                                                                                                                                                                                                   1                                                                                                                                                                                                                                                                                                600                                                                                                                                                                                                                             600                                                                                                                                                                                                                                                                                1
        60% AMI           1         1.0    8           626         769        1,031             56          HUD            975        7,800      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                               5008                                                                                                                                                                                                                            5008                                                                                                                                                                                                                                                                                8
        60% AMI           1         1.0    7           628         769        1,031             56          HUD            975        6,825      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         7                                                                                                                                                                                                                                                                                                                   7                                                                                                                                                                                                                                                                                               4396                                                                                                                                                                                                                            4396                                                                                                                                                                                                                                                                                7
        60% AMI           1         1.0    8           629         769        1,031             56          HUD            975        7,800      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                               5032                                                                                                                                                                                                                            5032                                                                                                                                                                                                                                                                                8
        60% AMI           1         1.0    1           633         769        1,031             56          HUD            975          975      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         1                                                                                                                                                                                                                                                                                                                   1                                                                                                                                                                                                                                                                                                633                                                                                                                                                                                                                             633                                                                                                                                                                                                                                                                                1
        60% AMI           1         1.0    1           683         769        1,031             56          HUD            975          975      No        3+ Story       Acquisition/Rehab          41,240        76.58%                                                1                                                                                                                                                                                                                                                                                                                   1                                                                                                                                                                                                                                                                                                683                                                                                                                                                                                                                             683                                                                                                                                                                                                                                                                                1
        60% AMI           1         1.0    1           688         769        1,031             56          HUD            975          975      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         1                                                                                                                                                                                                                                                                                                                   1                                                                                                                                                                                                                                                                                                688                                                                                                                                                                                                                             688                                                                                                                                                                                                                                                                                1
        60% AMI           1         1.0    8           689         769        1,031             56          HUD            975        7,800      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         8                                                                                                                                                                                                                                                                                                                   8                                                                                                                                                                                                                                                                                               5512                                                                                                                                                                                                                            5512                                                                                                                                                                                                                                                                                8
        60% AMI           1         1.0    2           695         769        1,031             56          HUD            975        1,950      No        3+ Story       Acquisition/Rehab          41,240        76.58%
                                                                                                                                                                                                                                                                         2                                                                                                                                                                                                                                                                                                                   2                                                                                                                                                                                                                                                                                               1390                                                                                                                                                                                                                            1390                                                                                                                                                                                                                                                                                2
        60% AMI           2         1.0    8           700         922        1,152             77          HUD          1,075        8,600      No        3+ Story       Acquisition/Rehab          46,080        71.31%
                                                                                                                                                                                                                                                                                  8                                                                                                                                                                                                                                                                                                                      8                                                                                                                                                                                                                                                                                                 5600                                                                                                                                                                                                                        5600                                                                                                                                                                                                                                                                                  8
        60% AMI           2         1.0    1           708         922        1,152             77          HUD          1,075        1,075      No        3+ Story       Acquisition/Rehab          46,080        71.31%                                                         1                                                                                                                                                                                                                                                                                                                      1                                                                                                                                                                                                                                                                                                  708                                                                                                                                                                                                                         708                                                                                                                                                                                                                                                                                  1
        60% AMI           2         1.0    4           780         922        1,152             77          HUD          1,075        4,300      No        3+ Story       Acquisition/Rehab          46,080        71.31%
                                                                                                                                                                                                                                                                                  4                                                                                                                                                                                                                                                                                                                      4                                                                                                                                                                                                                                                                                                 3120                                                                                                                                                                                                                        3120                                                                                                                                                                                                                                                                                  4
        60% AMI           2         1.0    1           783         922        1,152             77          HUD          1,075        1,075      No        3+ Story       Acquisition/Rehab          46,080        71.31%
                                                                                                                                                                                                                                                                                  1                                                                                                                                                                                                                                                                                                                      1                                                                                                                                                                                                                                                                                                  783                                                                                                                                                                                                                         783                                                                                                                                                                                                                                                                                  1
        60% AMI           2         1.0    8           794         922        1,152             77          HUD          1,075        8,600      No        3+ Story       Acquisition/Rehab          46,080        71.31%
                                                                                                                                                                                                                                                                                  8                                                                                                                                                                                                                                                                                                                      8                                                                                                                                                                                                                                                                                                 6352                                                                                                                                                                                                                        6352                                                                                                                                                                                                                                                                                  8
 1       N/A-CS           1         1.0    1                                                                HUD            -            -     Common       3+ Story       Acquisition/Rehab
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        1
                                  TOTAL    201       107,522                                                MONTHLY TOTAL           186,475
                                                                                                                                                                                                                                                        75          72       22                            14          13        4                                                                                                                                                                                     14         13          4                             75         72          22                                                                                                                                                                                                                       1                                            29,396          44,298        16,563                                    5,782       8,363    3,120                                                                                                                                    35,178      52,661    19,683                                                                                                                                                                                                                                                     89          85          26                                                                                                           1
                                                                                                             ANNUAL TOTAL         2,237,700

*** 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.




                                          6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Part VI-Revenues & Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     76 of 127
                                             Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                     2011 Funding Application       Of f ice of Af f ordable Housing




                                                   PART SIX - PROJECTED REVENUES & EXPENSES - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                  75            72         22   -     -            169    (Includes manager units that are income                           Low-Income                                   60% AMI               75         72         22   -     -        169    (Include mgr units that are income restricted)
                                                                   50% AMI                  14            13          4   -     -              31   restricted)                                                                                                    50% AMI               14         13          4   -     -          31
                                                                   T otal                   89            85         26   -     -            200                                                                                                                   T otal                89         85         26   -     -        200
NOTE TO             Unrestricted                                                        -             -          -        -     -            -                                                                        Unrestricted                                                   -          -          -        -     -        -
APPLICANTS: If      Total Residential                                                       89            85         26   -     -            200                                                                      Total Residential                                                  89         85         26   -     -        200
the numbers         Common Space                                                        -                  1     -        -     -              1    (no rent to be charged)                                           Common Space                                                   -               1     -        -     -          1    (no rent may be charged)
compiled in this    Total                                                                   89            86         26   -     -            201                                                                      Total                                                              89         86         26   -     -        201
Summary do not
appear to match     PBRA-Assisted                                  60% AMI                  75            72         22   -     -            169                                                                      PBRA-Assisted                                60% AMI               75         72         22   -     -        169
what was entered
                    (included in LI above)                         50% AMI                  14            13          4   -     -             31                                                                      (included in LI above)                       50% AMI               14         13          4   -     -         31
in the Rent Chart
                                                                   T otal                   89            85         26   -     -            200                                                                                                                   T otal                89         85         26   -     -        200
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              -             -          -        -     -            -                                                                                                 New Construction    Low Inc           -          -          -        -     -        -
above.                                                             Unrestricted         -             -          -        -     -            -                                                                                                                     Mkt Rate          -          -          -        -     -        -
                                                                   T otal + CS          -             -          -        -     -            -                                                                                                                     T otal + CS       -          -          -        -     -        -
                                             Acq/Rehab             Low Inc                  89            85         26   -     -            200                                                                                               Acq/Rehab           Low Inc               89         85         26   -     -        200
                                                                   Unrestricted         -             -          -        -     -            -                                                                                                                     Mkt Rate          -          -          -        -     -        -
                                                                   T otal + CS              89            86         26   -     -            201                                                                                                                   T otal + CS           89         86         26   -     -        201
                                             Substantial Rehab     Low Inc              -             -          -        -     -            -                                                                                                 Rehab Only          Low Inc           -          -          -        -     -        -
                                             Only                  Unrestricted         -             -          -        -     -            -                                                                                                                     Mkt Rate          -          -          -        -     -        -
                                                                   T otal + CS          -             -          -        -     -            -                                                                                                                     T otal + CS       -          -          -        -     -        -
                                             Adaptive Reuse                                                                                  -
                                             Historic Rehab                                 89            86         26                      201
                    Building Type:                                                                                                                                                                                    Building Type:
                                             Multifamily                                    89            86         26   -     -            201                                                                                               Multifamily                               89         86         26   -     -        201
                                             SF Detached                                -             -          -        -     -            -                                                                                                 SF Detached                           -          -          -        -     -        -
                                             Townhome                                   -             -          -        -     -            -                                                                                                 Townhome                              -          -          -        -     -        -
                                             Duplex                                     -             -          -        -     -            -                                                                                                 Duplex                                -          -          -        -     -        -
                                                                                        -             -          -        -     -            -                                                                                                                                       -          -          -        -     -        -
                                             Manufactured home                                                                                                                                                                                 Manufactured home

   Unit Square Footage:                                                                                                                                                                             Square Footage:
                  Low Income                                       60% AMI           29,396         44,298     16,563     -     -         90,257                                                                      Low Income                                   60% AMI        29,396      44,298     16,563     -     -      90,257
                                                                   50% AMI            5,782          8,363      3,120     -     -         17,265                                                                                                                   50% AMI         5,782       8,363      3,120     -     -      17,265
                                                                   T otal            35,178         52,661     19,683     -     -        107,522                                                                                                                   T otal         35,178      52,661     19,683     -     -     107,522
                    Unrestricted                                                        -              -          -       -     -            -                                                                        Unrestricted                                                   -           -          -       -     -         -
                    Total Residential                                                35,178         52,661     19,683     -     -        107,522                                                                      Total Residential                                           35,178      52,661     19,683     -     -     107,522
                    Common Space                                                        -              -          -       -     -            -                                                                        Common Space                                                   -           -          -       -     -         -
                    Total                                                            35,178         52,661     19,683     -     -        107,522                                                                      Total                                                       35,178      52,661     19,683     -     -     107,522




                                             6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                                                                                                                                                                                                                                                                           Part VI-Revenues & Expenses                           77 of 127
                                             Georgia Department of Community Af f airs                                                                                                                         2011 Funding Application       Of f ice of Af f ordable Housing




                                                    PART SIX - PROJECTED REVENUES & EXPENSES - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County


III. ANCILLARY AND OTHER INCOME (annual amounts)

   Ancillary Income                                                                 44,754                               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                             -             -             -    -          -               -              -               -                          -           -




                                             6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                                                                                               Part VI-Revenues & Expenses                           78 of 127
                                              Georgia Department of Community Af f airs                                                                                                                        2011 Funding Application       Of f ice of Af f ordable Housing




                                                     PART SIX - PROJECTED REVENUES & EXPENSES - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County

IV. ANNUAL OPERATING EXPENSE BUDGET

    On-Site Staff Costs                                                                        On-Site Security                                      Taxes and Insurance
    Management Salaries & Benefits                                     104,816                 Contracted Guard                                      Real Estate Taxes (Gross)*                      243,483
                                                                       133,704
    Maintenance Salaries & Benefits                                                            Electronic Alarm System                               Insurance**                                      57,455
                                                                        60,500
    Support Services Salaries & Benefits                                                                       Subtotal                              Misc. T axes                                       501
    Payroll T axes                                                      15,751
                                                                                                                                                        Subtotal                                     301,439
                                                                       314,771
                      Subtotal

    On-Site Office Costs                                                                       Professional Services                                 Management Fee:                                 106,134
                                                                        29,857                                                          7,500
    Office Supplies & Postage                                                                  Legal                                                    567.77   per unit per year
                                                                                                                                        9,000
    Telephone                                                                                  Accounting                                                 47.31      per unit per month
    Travel                                                                                     Advertising
                                                                                                                                        2,000
    Leased Furniture / Equipment                                                               ADA HOB Asset Mgmt Fee                                (Management Fee is from Pro Forma, Section 1,
    Activities Supplies / Overhead Cost                                                                        Subtotal                18,500        Operating Assumptions)
    Miscellaneous Admin                                                 11,500
                                                                        41,357
                      Subtotal

    Maintenance Expenses                                                                       Utilities       ($/mth/unit)                          TOTAL OPERATING EXPENSES
                                                                        16,762                                                        118,000
    Contracted Repairs                                                                         Electricity        48.92                                 5,705   per unit                         1,146,718
                                                                        20,000                                                         29,000
    General Repairs                                                                            Natural Gas        12.02
                                                                         8,000                                                        128,000
    Grounds Maintenance                                                                        Water&Swr          53.07
                                                                        10,000                                                         22,755
    Extermination                                                                              Trash Collection                                      Replacement Reserve                              84,420
    Maintenance Supplies                                                                       Other (describe here)                                 Enter desired per unit amount:                     420
                                                                        12,000                                                        297,755
    Elevator Maintenance                                                                                       Subtotal
    Redecorating
    Other (describe here)
                                                                                                                                                     TOTAL ANNUAL EXPENSES
                                                                        66,762
                      Subtotal                                                                                                                                                                   1,231,138

V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                      VI.   DCA COMMENTS
An estimate of the Real Estate Taxes and an Insurance Quote are included under Tab 8-A.
Miscellaneous Administrative Costs include:
A.) Boston Post Computer Fee: $4,000
B.) Annual Staff Training: $3,500
C.) Office Equipment Maintenance (computer, copy/fax, etc.): $2,750
D.) Computer software upgrades: $1,250




                                              6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                                                                                              Part VI-Revenues & Expenses                           79 of 127
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
                                                        3 BR       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 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      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
                                                                                                                                                                                                       7                                                                                                                                                                                                                                                                                                                                                                                                                                       7
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                                                                                                                                                                                                      89        86         26                                                                                                                                                                                                                                                                                                                                                                                                                 89         86         26




6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                                                                                                                                                                                                                                                                                                                                                                                                                                     Part VI-Revenues & Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                      80 of 127
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011    Part VI-Revenues & Expenses                           81 of 127
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011    Part VI-Revenues & Expenses                           82 of 127
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011    Part VI-Revenues & Expenses                           83 of 127
  Georgia Department of Community Affairs                                           2011 Funding Application                                                              Office of Affordable Housing
                                 PART SEVEN - OPERATING PRO FORMA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                              10,000           Yr 1 Asset Mgt Fee Percentage of EGI:                       0.47%
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                         2,237,700        2,282,454         2,328,103         2,374,665         2,422,158         2,470,602         2,520,014         2,570,414         2,621,822         2,674,259
Ancillary Income                    44,754           45,649            46,562            47,493            48,443            49,412            50,400            51,408            52,436            53,485
Vacancy                           (159,772)        (162,967)         (166,227)         (169,551)         (172,942)         (176,401)         (179,929)         (183,528)         (187,198)         (190,942)
Other Income (OI)                      -                -                 -                 -                 -                 -                 -                 -                 -                 -
OI Not Subject to Mgt Fee              -                -                 -                 -                 -                 -                 -                 -                 -                 -
Expenses less Mgt Fee           (1,040,584)      (1,071,802)       (1,103,956)       (1,137,074)       (1,171,186)       (1,206,322)       (1,242,512)       (1,279,787)       (1,318,181)       (1,357,726)
Property Mgmt                     (106,134)        (108,257)         (110,422)         (112,630)         (114,883)         (117,181)         (119,524)         (121,915)         (124,353)         (126,840)
Reserves                           (84,420)         (86,953)          (89,561)          (92,248)          (95,015)          (97,866)         (100,802)         (103,826)         (106,941)         (110,149)
NOI                                891,544          898,125           904,500           910,655           916,575           922,244           927,647           932,767           937,586           942,087
D/S USDA/HUD Mortgage             (486,766)        (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)
HUD MIP                            (32,152)         (31,965)          (31,767)          (31,556)          (31,332)          (31,093)          (30,838)          (30,568)          (30,279)          (29,973)
D/S Mortgage B                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage C                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Other Source                   (54,509)         (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)
D/S Grant from fdn / charity           -                -                 -                 -                 -                 -                 -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                         (10,000)         (10,300)          (10,609)          (10,927)          (11,255)          (11,593)          (11,941)          (12,299)          (12,668)          (13,048)
DDF                               (308,118)        (124,771)              -                 -                 -                 -                 -                 -                 -                 -
Incentive Mgmt                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
Cash Flow                                (0)        189,813           320,849           326,897           332,713           338,283           343,594           348,625           353,364           357,791
DCR First Mortgage                    1.83             1.85              1.86              1.87              1.88              1.89              1.91              1.92              1.93              1.94
DCR USDA/HUD Fee                      1.72             1.73              1.74              1.76              1.77              1.78              1.79              1.80              1.81              1.82
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source                       1.55              1.57             1.58              1.59              1.60              1.61              1.62              1.63              1.64              1.65
DCR Other Source
Oper Exp Coverage Ratio               1.72            1.71              1.69              1.68              1.66              1.65              1.63              1.62               1.61              1.59
Mortgage A Balance               7,103,411       7,059,361         7,012,477         6,962,577         6,909,467         6,852,942         6,792,780         6,728,749          6,660,599         6,588,066
Mortgage B Balance
Mortgage C Balance
Other Source Balance             1,475,265       1,450,032         1,424,289         1,398,026         1,371,233         1,343,899         1,316,014         1,287,566          1,258,544         1,228,935
Other Source Balance
DDF Balance                        124,771                -                 -                 -                  -                -                 -                 -                 -                 -


  6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                      Part VII-Pro Forma                                                                                      84 of 127
  Georgia Department of Community Affairs                                           2011 Funding Application                                                              Office of Affordable Housing
                                 PART SEVEN - OPERATING PRO FORMA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                              10,000           Yr 1 Asset Mgt Fee Percentage of EGI:                       0.47%
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                         2,727,744        2,782,299         2,837,945         2,894,704         2,952,598         3,011,650         3,071,883         3,133,320         3,195,987         3,259,906
Ancillary Income                    54,555           55,646            56,759            57,894            59,052            60,233            61,438            62,666            63,920            65,198
Vacancy                           (194,761)        (198,656)         (202,629)         (206,682)         (210,815)         (215,032)         (219,332)         (223,719)         (228,193)         (232,757)
Other Income (OI)                      -                -                 -                 -                 -                 -                 -                 -                 -                 -
OI Not Subject to Mgt Fee              -                -                 -                 -                 -                 -                 -                 -                 -                 -
Expenses less Mgt Fee           (1,398,458)      (1,440,412)       (1,483,624)       (1,528,133)       (1,573,977)       (1,621,196)       (1,669,832)       (1,719,927)       (1,771,525)       (1,824,670)
Property Mgmt                     (129,377)        (131,964)         (134,604)         (137,296)         (140,042)         (142,843)         (145,699)         (148,613)         (151,586)         (154,617)
Reserves                          (113,453)        (116,857)         (120,363)         (123,974)         (127,693)         (131,524)         (135,469)         (139,533)         (143,719)         (148,031)
NOI                                946,249          950,056           953,484           956,513           959,123           961,288           962,988           964,194           964,883           965,029
D/S USDA/HUD Mortgage             (486,766)        (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)
HUD MIP                            (29,646)         (29,299)          (28,929)          (28,536)          (28,117)          (27,671)          (27,197)          (26,692)          (26,154)          (25,582)
D/S Mortgage B                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage C                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Other Source                   (54,509)         (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)
D/S Grant from fdn / charity           -                -                 -                 -                 -                 -                 -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                         (13,439)        (13,842)           (14,258)          (14,685)          (15,126)          (15,580)          (16,047)          (16,528)          (17,024)          (17,535)
DDF                                    -               -                  -                 -                 -                 -                 -                 -                 -                 -
Incentive Mgmt                         -               -                  -                 -                 -                 -                 -                 -                 -                 -
Cash Flow                          361,889         365,640            369,022           372,018           374,605           376,763           378,469           379,699           380,429           380,637
DCR First Mortgage                    1.94            1.95               1.96              1.97              1.97              1.97              1.98              1.98              1.98              1.98
DCR USDA/HUD Fee                      1.83            1.84               1.85              1.86              1.86              1.87              1.87              1.88              1.88              1.88
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source                       1.66              1.67             1.67              1.68              1.68              1.69              1.69              1.70              1.70              1.70
DCR Other Source
Oper Exp Coverage Ratio               1.58            1.56              1.55              1.53              1.52              1.51              1.49              1.48               1.47              1.45
First Mortgage Balance           6,510,868       6,428,703         6,341,254         6,248,180         6,149,119         6,043,687         5,931,473         5,812,041          5,684,927         5,549,636
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance             1,198,730       1,167,914         1,136,477         1,104,405         1,071,685         1,038,306         1,004,252            969,511           934,069           897,911
Other Source Balance
DDF Balance                             -                 -                 -                 -                  -                -                 -                 -                 -                 -


  6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                      Part VII-Pro Forma                                                                                      85 of 127
  Georgia Department of Community Affairs                                           2011 Funding Application                                                              Office of Affordable Housing
                                 PART SEVEN - OPERATING PRO FORMA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                              10,000           Yr 1 Asset Mgt Fee Percentage of EGI:                       0.47%
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                         3,325,104        3,391,607         3,459,439         3,528,627         3,599,200         3,671,184         3,744,608         3,819,500         3,895,890         3,973,808
Ancillary Income                    66,502           67,832            69,189            70,573            71,984            73,424            74,892            76,390            77,918            79,476
Vacancy                           (237,412)        (242,161)         (247,004)         (251,944)         (256,983)         (262,123)         (267,365)         (272,712)         (278,167)         (283,730)
Other Income (OI)                      -                -                 -                 -                 -                 -                 -                 -                 -                 -
OI Not Subject to Mgt Fee              -                -                 -                 -                 -                 -                 -                 -                 -                 -
Expenses less Mgt Fee           (1,879,410)      (1,935,793)       (1,993,867)       (2,053,683)       (2,115,293)       (2,178,752)       (2,244,114)       (2,311,438)       (2,380,781)       (2,452,204)
Property Mgmt                     (157,710)        (160,864)         (164,081)         (167,363)         (170,710)         (174,124)         (177,607)         (181,159)         (184,782)         (188,478)
Reserves                          (152,472)        (157,046)         (161,757)         (166,610)         (171,608)         (176,757)         (182,059)         (187,521)         (193,147)         (198,941)
NOI                                964,602          963,575           961,919           959,600           956,590           952,853           948,354           943,060           936,931           929,930
D/S USDA/HUD Mortgage             (486,766)        (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)         (486,766)
HUD MIP                            (24,973)         (24,325)          (23,636)          (22,902)          (22,121)          (21,289)          (20,404)          (19,462)          (18,460)          (17,393)
D/S Mortgage B                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage C                         -                -                 -                 -                 -                 -                 -                 -                 -                 -
D/S Other Source                   (54,509)         (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)          (54,509)
D/S Grant from fdn / charity           -                -                 -                 -                 -                 -                 -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                         (18,061)        (18,603)           (19,161)          (19,736)          (20,328)          (20,938)          (21,566)          (22,213)          (22,879)          (23,566)
DDF                                    -               -                  -                 -                 -                 -                 -                 -                 -                 -
Incentive Mgmt                         -               -                  -                 -                 -                 -                 -                 -                 -                 -
Cash Flow                          380,292         379,372            377,847           375,688           372,866           369,351           365,109           360,110           354,317           347,697
DCR First Mortgage                    1.98            1.98               1.98              1.97              1.97              1.96              1.95              1.94              1.92              1.91
DCR USDA/HUD Fee                      1.88            1.89               1.88              1.88              1.88              1.88              1.87              1.86              1.85              1.84
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source                       1.70              1.70             1.70              1.70              1.70              1.69              1.69              1.68              1.67              1.66
DCR Other Source
Oper Exp Coverage Ratio               1.44            1.43              1.41              1.40              1.39              1.38              1.36              1.35               1.34              1.33
First Mortgage Balance           5,405,644       5,252,390         5,089,278         4,915,674         4,730,905         4,534,250         4,324,946         4,102,179          3,865,084         3,612,738
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance               861,024         823,392            785,001           745,835           705,878           665,114           623,528           581,103           537,821           493,665
Other Source Balance
DDF Balance                             -                 -                 -                 -                  -                -                 -                 -                 -                 -


  6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                      Part VII-Pro Forma                                                                                      86 of 127
  Georgia Department of Community Affairs                                           2011 Funding Application                                                           Office of Affordable Housing
                                 PART SEVEN - OPERATING PRO FORMA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                              10,000           Yr 1 Asset Mgt Fee Percentage of EGI:                       0.47%
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                         4,053,284       4,134,349         4,217,036         4,301,377         4,387,405
Ancillary Income                    81,066          82,687            84,341            86,028            87,748
Vacancy                           (289,404)       (295,193)         (301,096)         (307,118)         (313,261)
Other Income (OI)
OI Not Subject to Mgt Fee
Expenses less Mgt Fee           (2,525,770)      (2,601,544)       (2,679,590)       (2,759,978)       (2,842,777)
Property Mgmt                     (192,247)        (196,092)         (200,014)         (204,014)         (208,095)
Reserves                          (204,909)        (211,057)         (217,388)         (223,910)         (230,627)
NOI                                922,018          913,152           903,288           892,385           880,393
D/S USDA/HUD Mortgage             (486,766)        (486,766)         (486,766)         (486,766)         (486,766)
HUD MIP                            (16,257)         (15,049)          (13,762)          (12,393)          (10,936)
D/S Mortgage B                         -                -                 -                 -                 -
D/S Mortgage C                         -                -                 -                 -                 -
D/S Other Source                   (54,509)         (54,509)          (54,509)          (54,509)          (54,509)
D/S Grant from fdn / charity           -                -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                         (23,566)        (23,566)           (23,566)          (23,566)          (23,566)
DDF                                    -               -                  -                 -                 -
Incentive Mgmt                         -               -                  -                 -                 -
Cash Flow                          340,920         333,262            324,685           315,151           304,616
DCR First Mortgage                    1.89            1.88               1.86              1.83              1.81
DCR USDA/HUD Fee                      1.83            1.82               1.80              1.79              1.77
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source                       1.65              1.64             1.63              1.61              1.59
DCR Other Source
Oper Exp Coverage Ratio               1.32            1.30              1.29              1.28              1.27
First Mortgage Balance           3,344,161       3,058,308         2,754,069         2,430,261         2,085,625
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance               448,619         402,663            355,779           307,949           259,154
Other Source Balance
DDF Balance                             -                 -                 -                 -                  -


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   Georgia Department of Community Affairs                                                           2011 Funding Application                                                        Office of Affordable Housing
                                         PART SEVEN - OPERATING PRO FORMA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton 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                              10,000           Yr 1 Asset Mgt Fee Percentage of EGI:                       0.47%
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

The new first mortgage has been underwritten and sized based on the parameters of the HUD 221 (d)(4) loan program. The (d)(4)
program allows for the new debt to be underwritten to the lesser of the existing Section 8 Contract rents and the market rents determined
by the market study. The proposed Section 8 rents shown on the 'Revenues-Expenses' tab are supported by the DCA Market Study as
well as the HUD Market Study. We anticipate these are rents the project will receive from HUD post renovation but we are unable to
underwrite our new debt to these rents since they have not yet been approved by HUD. Consequently, the additional revenue generated
by the propsoed Section 8 contract rents creates a debt service coverage ratio that is greater than 1.40 in Year 1. We do not feel we
have oversubsidized the property since we have sized the new first mortgage within the parameters of the HUD 221(d)(4) loan program.
Additionally, we believe that sizing the debt in the manner we have will maximize the proejct's chances for successful operations in both
the near and long term.




Ancillary Income at the project is historically much less than the 2% of Gross Potential Income. We are anticipating Year 1 Ancillary
Income to be $8,061. The additional ancillary income shown above also adds additional debt service coverage ratio to the project and
should be taken into consideration when reviewing the project's pro forma.




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

                          PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                        Applicant            DCA
Preliminary Rating: Incomplete                                                                                          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.)




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

                                PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                            Applicant                DCA
Preliminary Rating: Incomplete                                                                                                                                              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:
                                                                                                                                                                                                                Row size may be
                                                                                                                                                                                                                  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:
The property is currently serving an elderly (62+ Years) and disabled population. We will not be changing the
tenancy characteristics as part of our plan to preserve the property. The fully renovated property will continue
to serve elderly (62+) and disabled residents.


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)
     Applicant's comments regarding this section of Threshold:
Our renovation plan for the property includes hiring a full-time resident service coordinator to work on-site with the residents of Briarcliff. Preservation Management, Inc.
(the proposed management agent) has substantial experience designing and successfully implementing resident service programs at our other properties. The supportive service plan we intend to implement is
included in Tab 39-A with the Superior Project Concept Narrative Supporting documentation.

    DCA's Comments:




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

                                  PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                                     Applicant                 DCA
Preliminary Rating: Incomplete                                                                                                                                                       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. Brad Moore, The Gill Group
     B.  Project absorption period to reach stabilized occupancy                                                                              B. 12 months
     C.  Stabilization period                                                                                                                C. 12 months
     D.  Overall capture rate for credit units                                                                                               D. 26.90%
     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 2009-027 Columbia Townhomes                              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.
     Applicant's comments regarding this section of Threshold:
Columbia Townhomes at Edgewood is a 100-unit unsubsidized elderly elderly (62+) property with 40 units set at 50% of AMI and 60 unit set at 60% of AMI. The property is made up a mix of 1 and 2 bedroom
apartments and is located at 1281 Caroline Stree NE, Atlanta, GA.
The project absorption and stabilization rate assume the project is vacant. The property is currently 96% occupied and we will not be permanently displacing any residents during renovations. We do not anticipate
the actual absorption and stablizing rate to be 12 months, and given the fact the property has large waitlist, and high demand for section 8 subsidized units, we believe the project will be fully occupied and stablized
shortly after renovations are complete. Additionally, given that Briarcliff is an existing property with a high occpancy rate, we do not believe the renovation of the property will negatively impact occupancy levels of
other tax credit and/or affordable properties within the market area.

    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)
         2) Subdivided?                                                                                                                                                                   2)
         3) Modified?                                                                                                                                                                     3)
    Applicant's comments regarding this section of Threshold:
There is no identity of interest between the Buyer and Seller. An appraisal was not included in the application submission.


    DCA's Comments:




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

                               PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                                Applicant              DCA
Preliminary Rating: Incomplete                                                                                                                                                  Response               USE




FINAL THRESHOLD DETERMINATION (DCA Use Only)
6   Environmental Requirements                                                                                                                                                  Pass?

    A. Name of Consultant that prepared the Phase I Assessment:                                                                        A. Teri Hovanec, The LJM Group
    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:                                                                                                                   72
       If "Yes", what are the contributing factors in decreasing order of magnitude?
       The 72 db noise level is an exterior noise reading and the primary contributing factor is that Briarcliff is located at the corner of Highland Avenue and Ponce de Leon Avenue,
       a major throughway intersection. Interior noise levels are well within acceptable level as documenting in the HUD noise analysis found in the Appendix of the Phase I ESA.

    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.
        1) Asbestos?                            Yes                            3) PCB's?             No                                5) Lead in water         No
        2) Lead-based paint?                    Yes                            4) Mold?              No                                6) Radon?                No
        7) Other (e.g., endangered species, Native American burial grounds, etc.):
    F. Is all additional environmental documentation required for a HOME application included?                                                                                      F.    No
        1) Eight-Step Process for Wetlands and/or Floodplains required?                                                                                                             1)    No
        2) Has Applicant/PE completed the HOME and HUD Environmental Questionnaire?                                                                                                 2)    Yes
        3) Owner agrees that they must refrain from undertaking any activities that could have an adverse effect on the subject property?                                           3)    Yes
    G. If HUD approval has been previously granted, has the HUD Form 4128 been included?                                                                                            G.
    Applicant's comments regarding this section of Threshold:

                                                                                                                                                                                                                  Row size may be
                                                                                                                                                                                                                    increased.
    DCA's Comments:

                                                                                                                                                                                                                  Row size may be
                                                                                                                                                                                                                    increased.




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

                                 PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                                   Applicant                 DCA
Preliminary Rating: Incomplete                                                                                                                                                     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.                      Evergreen Partners II LLC                             Yes
    Applicant's comments regarding this section of Threshold:
Evergreen Partners II LLC is an affiliate of proposed ownership entity The Seven Fifty Limited Partnership. Per Section 11.3 of the Purchase and Sale Contract included in Tab 12-A, Evergreen
Partners II LLC has the right to assign the P&S to an affiliated entity. Evergreen Partners II LLC will assign the purchase contract to The Seven Fifty Limited Partnership prior to closing.
    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:
Briarcliff Summit Apartments is an existing property with direct access to public paved roads (Ponde de Leon Avenue). Please see Tab 13 for Site Access documentation.

    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:
The City of Atlanta provided a zoning classifcation confirmation letter for Briarcliff Summit Apartments, along with the supporting City Zoning Ordinance documentation. As noted on the
Site Development Plan, Briarcliff is legally non-conforming since the site was developed prior to existance of the current zoning ordinances. Our renovation plan for the property will not changes the building's
footprint or number of units, and will continue to be legally non-conforming post renovation. The letter provided by the City of Atlanta is a standard format letter and they would not comment on whether or not the
renovation of Briarlciff Summit would include the development of prime or unique farm land, as required by the QAP. Given that it is an existing property located in an urban setting surrounded by single family,
multi-family and commercial uses we do not believe this designation is applicable to our plan to acquire and preserve Briarcliff Summit Apartments.



    DCA's Comments:



10 Operating Utilities                                                                                                                                                             Pass?
     A. Check applicable utilities and enter provider name:                      1) Gas            Georgia Natural Gas                                                                  1)      Yes
                                                                                 2) Electric       Georgia Power                                                                        2)      Yes
    Applicant's comments regarding this section of Threshold:

    DCA's Comments:




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

                                  PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                                      Applicant                  DCA
Preliminary Rating: Incomplete                                                                                                                                                        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 Atlanta                                                                   B1)        Yes
         name:                                                                      2) Public sewer City of Atlanta                                                                     2)       Yes
     Applicant's comments regarding this section of Threshold:
The City of Atlanta Department of Watershed Management provided us with a letter indicating that water service was established at the property in 1960. This is the only letter they would provide to us after
numerous attempts over the past months to secure a stronger letter. They would not comment on whether or not the utilities they provide are adequately designed to serve the capacity and needs of the property.
We also made numerous attempts to have them delineate between "water" and "sewer" which they would not do. The currrent management reports no issues with the water and sewer system at the property. We
believe the exisitng utilities are properly sized to meet the current demands of the population at Briarcliff Summit. Given the various water saving measures we will be implementing as part of our renovation plan
we believe this will continue to hold true going forward.
    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.    Yes
     D. Letters of support from local government officials?                                                                                                                                  D.    Yes
     Applicant's comments regarding this section of Threshold:
We initially presented our plan for Briarcliff Summit to the local neighborhood group, Virginia Highland Civic Association, in 2010 and again on June 13, 2011. A copy of the meeting minutes documenting our
attendance and their notification, as well as letter of support, is included under Tab 16-A. Additionally, the City of Atlanta adopted a resolution of support for the project in June 06, 2011. The resolution of support   Row size may be
was signed by the Mayor on June 13th, 2011. A copy of the resolution of support and associated meeting minutes are also included under Tab 16-B.
                                                                                                                                                                                                                               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) Room                                                                   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) Arts & Craft Center                                                                                       3) Wellness Center
        2) Computer Center                                                                                           4) Exercise/Fitness Center
     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)       No
        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 - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                                 Applicant                  DCA
Preliminary Rating: Incomplete                                                                                                                                                   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)         No
             b. If No, was a DCA Architectural Standards waiver granted?                                                                                                          3b)         No
     Applicant's comments regarding this section of Threshold:
Item 3: The Fair Housing Amendments Act of 1988 does not apply as the property was built for first occupancy prior to March 13, 1991. We have designed the scope
of work to make the property as accessible and adaptable as possible given its existing conditions and cost constraints. We are open to working with DCA to examine additional accessibility/adaptability options for   Row size may be
the property. We are current committing to 7% of the units as fully accessibily and an additional 2% adapted for individuals with hearing and vision impairments.
                                                                                                                                                                                                                          increased.
    DCA's Comments:




14 Rehabilitation Standards (Rehabilitation Projects Only)                                                                                                                       Pass?

     A.Type of rehab (choose one):                                                                                                    A. Historic Preservation                             <<Select>>
     B.Date of PNA:                                                                                                                   B. June 12, 2011
     C.Name of consultant preparing PNA:                                                                                              C. Melvin Cauthen, EMG Corp
     D.Is 20-year replacement reserve study included?                                                                                                                                 D.      Yes
     E.Applicant understands that in addition to propose work scope, the project must meet state and local building codes, DCA architectural                                          E.
                                                                                                                                                                                             Agree
       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:
                                                                                                                                                                                                                        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:
In Tab 17-B we have included the Site Plan (Briarcliff Summit is an existing property) and a map of the surrounding amenities. The area amenities are further detailed in Tab 24: Desirable/Undesirable Site
Characteristics.                                                                                                                                                                                                        Row size may be
                                                                                                                                                                                                                          increased.
    DCA's Comments:




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

                                  PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                                   Applicant                 DCA
Preliminary Rating: Incomplete                                                                                                                                                     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:
We plan to implement as many energy saving and water conversation improvements as we believe are possible for the site given its existing conditions and cost contraints associated with some energy efficiency
improvements. Some of the major improvements we are planning include: new windows, removal of the through wall A/C units, new high efficiency HVAC system, energystar applicances and fixtures and low-flow
water fixtures and toliets. We are open to discussing with DCA any suggestions about additional energy and water saving measures that could be implemented at the property to enchance what we are already
planning.                                                                                                                                                                                                                Row size may be
                                                                                                                                                                                                                           increased.
Additionally, as documented in Tab 29 - Sustainable Building Certification, we are planning to pursue a certification under Enterprise's 2011 Green Communities Program. We have included the program checklist
in our application which outlines how our renovation plan for Briarcliff Summit will meet the requirements of the program.
    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:
We are currently planning for 7% of the units at the property to modified for mobility and an additional 2% to be modified for individuals with hearing and site impairments. A waiver request for a 100% of the units
to not be adaptable and accessible is currently under review by DCA. We are open to working with DCA to maximize accessibility where possible at the property within the constraints of its existing conditions and
                                                                                                                                                                                                                         Row size may be
costs associated with modifying units to meet accessible/adaptable requirements.
                                                                                                                                                                                                                           increased.
    DCA's Comments:




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                                PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                              Applicant                DCA
Preliminary Rating: Incomplete                                                                                                                                                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.      Yes
         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)       Rehab of bldgs eligible for historic preservation credits will maintain or replace w/matching materials, the                1)      Yes
                                                      existing/original exterior finish surfaces
         2) Attractive Features (select two)          Recreation of existing or missing known historic decorative elements                                                        2)      Yes
                                                      Addition of or the redesign of existing covered entries                                                                             Yes
         3) Major Bldg Component Materials &          Upgraded roofing shingles, or roofing materials                                                                             3)      Yes
            Upgrades (select one)
         4) Landscaping and Site Design Features      Preservation of existing trees and vegetation                                                                               4)      Yes
            (select two)                              Site entry w/ permanent, illuminated entry sign and decorative fence                                                                Yes
     Applicant's comments regarding this section of Threshold:
4 of our 5 architectural waivers are still under review by DCA. The approved waiver and communications on this matter are included in Tab 4-B. We are planning $57,500 in renovations per unit at the property
and believe we have designed a renovation plan that will yield a high quality property designed for long term operation as superior affordable housing. We are open to suggestions from DCA on how we could
modify the scope of work to improve our existing plan and create the best possible environment for the residents, as is feasible within our current development budget.                                             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:




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

                                  PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                            Applicant            DCA
Preliminary Rating: Incomplete                                                                                                                                              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:
No Uniform Release was included in the Compliance Workbook. We will complete a Uniform Release if one is provided or required by DCA for the project team. We have completed and submitted the Multi-State
Release Form for each of the states where we have LIHTC properties. It is our understanding that all of the required Multi-State Releases have been submitted to DCA for review.



    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:
N/A - This project has no non-profit principals.
    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:
N/A - This project is not applying for a HOME loan and is also not eligible for the CHDO set-aside.
    DCA's Comments:




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                                 PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                                       Applicant              DCA
Preliminary Rating: Incomplete                                                                                                                                                         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. Census Tract: 15                                                                                                           Yes
    C. Is Contract Addendum included in Application?                                                                                                                                      C.   Yes
    Applicant's comments regarding this section of Threshold:
23-C: The property is currently operating under a HAP contract which is included in Tab 2-F as part of the Preservation Set-Aside documentation.
                                                                                                                                                                                                                         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.   Yes
    B. Credit Eligibilty for Assisted Living                                                                                                                                              B.
    C. Nonprofit Federal Tax Exempt Status                                                                                                                                                C.
    D. Accessibility Standards                                                                                                                                                            D.
    E. Other (If Yes, then also describe):                    E.
    Applicant's comments regarding this section of Threshold:

    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:
Northgate Village is listed on the Georga Housing search website.




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                                 PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                                  Applicant                  DCA
Preliminary Rating: Incomplete                                                                                                                                                    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.      Yes
     B. 1) Are any of the sources other than DCA HOME considered to be Federal Funding?                                                                                                    B1)       No
         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)      No
     C. Is sufficient comparable replacement housing identified in the relocation plan according to DCA relocation requirements?                                                            C.       No
     D. Provide summary data collected from Relocation Displacement Spreadsheet:                                                                                                            D.
         1) Number of Over Income Tenants                                                                                                                                                    1)    None
         2) Number of Rent Burdened Tenants                                                                                                                                                  2)    None
         3) Number of Vacancies                                                                                                                                                              3)      8
         4) Number of Down units                                                                                                                                                             4)      1
         5) Number of Displaced Tenants                                                                                                                                                      5)    None
     E. Indicate Proposed Advisory Services to be used (see Relocation Manual for further explanation):                                                                                     E.
         1) Individual interviews                                                                                                                                                            1)      No
         2) Meetings                                                                                                                                                                         2)     Yes
         3) Written Notifications                                                                                                                                                            3)     Yes
         4) Other - describe in box provided:                        4)
    Applicant's comments regarding this section of Threshold:
The project is not subject to the Uniform Relocation Act as the number of affordable units at the property will remain unchanged and none of the residents will be permanently displaced as a result of the
renovations we have planned for the property. All tenants will be relocated within the building itself during renovations to similar available/vacant units as described in the relocation plan. No resident will be
permanently relocated off-site or permanently displaced during renovation. Consequently, replacement housing was not identified as part of our relocation plan (Tab 22) as it is not required based on how we will
conduct the renovation of Briarcliff Summit Apartments.


    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:
                                                                                                                                                                                                                        Row size may be
                                                                                                                                                                                                                          increased.
    DCA's Comments:




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                                PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                                                                   Applicant            DCA
Preliminary Rating: Incomplete                                                                                                                                                     Response             USE




FINAL THRESHOLD DETERMINATION (DCA Use Only)
28 Optimal Utilization of Resources                                                                                                                                                Pass?
   Applicant's comments regarding this section of Threshold:
                                                                                                                                                                                                                   Row size may be
   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

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

                       PART EIGHT - THRESHOLD CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County



                                                                                                                                        Applicant             DCA
Preliminary Rating: Incomplete                                                                                                          Response              USE




FINAL THRESHOLD DETERMINATION (DCA Use Only)
    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



    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




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           Georgia Department of Community Affairs                                                                     2011 Funding Application                                                                           Office of Affordable Housing
                                    PART NINE - SCORING CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                                                                           Score         Self DCA
                                                                                                                                                                                           Value        Score Score
                                                                                                                                                                            TOTALS:         90           56    10
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:

                                                                                                                                                                                                                        Row size may be
                                                                                                                                                                                                                          increased.
DCA's Comments:                               Enter "1" for each item                                                                       Enter "1" for each item                           Enter "1" for each item
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 - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                                                                                            Score           Self DCA
                                                                                                                                                                                                            Value          Score Score
                                                                                                                                                                                     TOTALS:                 90             56    10
2. DEEPER TARGETING / RENT AND INCOME RESTRICTIONS                                                                                                                                                            3              3                X
      50% Gross Rent Restrictions / 50% Income Restrictions:                            Nbr units to have these restrictions:      31                   Percent of Residential Units:  15.5%
      Applicant's comments regarding this section of scoring:
31 units at the property will be designated to serve individuals earning 50% or less of AMI and the remaining 169 units will be at 60% of AMI. The property is also covered by a project-based Section 8 HAP
contract, which covers 99% of the units. Currently, 100% of the residents qualify and utilize the Section 8 HAP subsidy. Given the elderly (62+) and disabled population at the property, most of who are living on
a fixed-income, we expect that 100% of the population will continue to meet Tax Credit and Section 8 eligibility criteria. Please see Part VI Section I Rent Schedule for documentation of which units will be
designated to serve 50% and 60% residents.

     DCA's Comments:



3. DESIRABLE AND UNDESIRABLE CHARACTERISTICS                                                 See QAP Scoring for further requirements. Applicants must complete Desirable/Undesirable Certification form.     12            9     0           X
                                                                                                                                                                                                              10            9     0      Net Desirable/Undesirable, exclusive of Bonus
 A. Desirable Activities                  (1 pt each)                   Number of sites under construction                                                                                                    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.     0
 C. Undesirable Sites                     (1 pt subtracted each)       Nbr sites where conditions making property undesirable are temporary & change/mitigation is imminent                                 various   C.    1

     Applicant's comments regarding this section of scoring:
The site is very well located within the community and there are many desirable amenities and services within walking distance of the property. The property is located at the corner of Ponce de Leon Avenue and
Highland Avenue in Atlanta. This is a busy intersection and a major throughway to the City of Atlanta and the Virginia Highland Neighborhood. The loss of 1 point for "Undesirable Site" is due to the fact the
property has an exterior noise level of 72db, resulting from its close proximity to the roadway. The desirable/undesirable documentation is located under Tab 24 - Site Characteristics.
                                                                                                                                                                                                                                         Row size may be
                                                                                                                                                                                                                                           increased.



     DCA's Comments:

                                                                                                                                                                                                                                         Row size may be
                                                                                                                                                                                                                                           increased.



4. Community Transportation Options                                                          See scoring criteria for further requirements and information                                                    2             1     0           X
 A. Rapid Rail                                                                                                                                                                                                2       A.
 B. Public Transit Stop                                                                                                                                                                                       1       B.     1
    Applicant's comments regarding this section of scoring:
There is a MARTA Bus Stop located adjacent to the property along Ponce De Leon Avenue. Documentation of the Bus Stop is included under Tab 25.

     DCA's Comments:




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              Georgia Department of Community Affairs                                                                                           2011 Funding Application                                                                                   Office of Affordable Housing
                                              PART NINE - SCORING CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                                                                                                         Score                Self DCA
                                                                                                                                                                                                                         Value               Score Score
                                                                                                                                                                                                 TOTALS:                    90                56    10
5. Adaptive Reuse                                      (w/PNA & supporting documentation - see scoring criteria)                   See scoring criteria for further requirements and information                             1                             X
      Will the entire building be an adaptive reuse?
      Existing building to be adapted was formerly used as:
      For rehabilitation projects, is the building to be adapted for reuse already part of the existing multifamily development?
      Applicant's comments regarding this section of scoring:



      DCA's Comments:




6. Brownfield                                          (With EPA/EPD Documentation)                                                See scoring criteria for further requirements and information                             2                             X
      Environmental regulatory agency which has designated the site as a Brownfield and determined:cleanup guidelines:
      Applicant's comments regarding this section of scoring:



      DCA's Comments:




7. SUSTAINABLE DEVELOPMENTS                         Choose only one. See scoring criteria for further req'mts. EF Green Communities                                               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:
We will be pursing a certification under Enterprise's 2011 Green Communities Criteria. We have designed our renovation scope to meet this critera and documentation of our ability to participate in the program is included under Tab 29.




      DCA's Comments:




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               Georgia Department of Community Affairs                                                                                   2011 Funding Application                                                                                     Office of Affordable Housing
                                            PART NINE - SCORING CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                                                                                                  Score                Self DCA
                                                                                                                                                                                                                  Value               Score Score
                                                                                                                                                                                           TOTALS:                   90                56    10
8. STABLE COMMUNITIES / REDEVELOPMENT / REVITALIZATION             Stable Communities < 20%                                                                                                                           6                 2             X
                                   Additional required questions depending on option selected above:
 A. Stable Communities                                                                                                                                                                                                4
       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)
       b)    Designated Middle or Upper Income level                     (see Demographics)                                                                                                                                    b)
        c)   Market study must demonstrate need for affordable housing                                                                                                                                                         e)
 X     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)      Yes
       b)    Designated Middle or Upper Income level                     (see Demographics)                                                                                                                                    b)      Yes
        c)   Market study must demonstrate need for affordable housing                                                                                                                                                         e)      Yes
 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)
 X   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:
Briarcliff Summit Apartments meets the Stable Communities Criteria indicated in item #2 above. FFIEC Census Tract documentation is included under Tab 30. The property is not part of any Community Development/Revitalization Plan or Strategy.




     DCA's Comments:




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           Georgia Department of Community Affairs                                                                  2011 Funding Application                                                                             Office of Affordable Housing
                                     PART NINE - SCORING CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                                                                    Score            Self DCA
                                                                                                                                                                                    Value           Score Score
                                                                                                                                                               TOTALS:                90             56    10
9. PHASED DEVELOPMENTS / PREVIOUS PROJECTS                                                                                (choose only one)                                            3              0     0            X
     A. Phased Developments                                                                                                                                                            3       A.
      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.
         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.    0       0
          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 <Select> DCA funding cycles.
   Applicant's comments regarding this section of scoring:

    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:




    DCA's Comments:




           6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                                          Part IX A-Scoring Criteria                                                                                          107 of 127
            Georgia Department of Community Affairs                                                                        2011 Funding Application                                                                        Office of Affordable Housing
                                       PART NINE - SCORING CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                                                                                Score         Self DCA
                                                                                                                                                                                                Value        Score Score
                                                                                                                                                                         TOTALS:                 90           56    10
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.
    Applicant's comments regarding this section of scoring:
We agree to forego the cancellation option for a period of 5 years as indicated in Part I - Section XII-B of the Core Application.
     DCA's Comments:




12. PRESERVATION                                                                                                                 (choose only one)                                                6            6    0      X
     A. Historic Designation                                                                                                                                                                      3     A.     1    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:                                                                                                                                          Two
      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.     6         0
        1. Expiring Tax Credit Properties                                                                                                                                                6       1.    6
        2. USDA Properties                                                                                                                                                               2       2.
        3. HUD Properties                                                                                                                                                                2       3.    2
      Applicant's comments regarding this section of scoring:
Briarcliff Summit Apartments meets the Preservation Criteria under the Expiring Tax Credit Properties scoring. Please note, the proposed rent increase exceeds 10% of the existing rents. This will not negatively
impact the residents due the project-based Section 8 HAP contract that is currently in place. Post renovation, residents will continue to pay only 30% of their adjusted annual income toward rent. The residents
will not be burdened by our proposed Section 8 contract rents. Additionally, due to the dire need of preservation for Briarcliff Summit Apartments, HUD has designated the property as its High Priority Project for
2011. A copy of the HUD High Priority Letter is included under Tab 34-C. Documentation for the Preservation of Affordable Housing Scoring is included under Tab 34 A-C.




     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.
 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.
     Applicant's comments regarding this section of scoring:



     DCA's Comments:




            6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                                                Part IX A-Scoring Criteria                                                                                     108 of 127
           Georgia Department of Community Affairs                                                                         2011 Funding Application                                                                           Office of Affordable Housing
                                      PART NINE - SCORING CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                                                                              Score            Self DCA
                                                                                                                                                                                              Value           Score Score
                                                                                                                                                                        TOTALS:                 90             56    10
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.
    Applicant's comments regarding this section of scoring:
Documentation of LIHTC experience is include under Tab 35. The two LIHTC project we are submitting for experience are: 1.) Hudson Terrace Apartments (New York) Project#: SHARS ID 20096054 and 2.)
Sharp Leadenhall Apartments (Maryland), Project #: MD 05-18.
    DCA's Comments:




15. RURAL                                                                                                                        (80 residential units or less)                                  3             0              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                                                                       Points Claimed for other project:                             Points Claimed for this project:
    Applicant's comments regarding this section of scoring:                                                                      DCA's Comments:




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

    Applicant's comments regarding this section of scoring:




    DCA's Comments:




           6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                                                 Part IX A-Scoring Criteria                                                                                        109 of 127
             Georgia Department of Community Affairs                                                                 2011 Funding Application                                                  Office of Affordable Housing
                                      PART NINE - SCORING CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                                                  Score         Self DCA
                                                                                                                                                                  Value        Score Score
                                                                                                                                                        TOTALS:    90           56    10
17. LEVERAGING OF RESOURCES                                                                                                                                        8            2       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.
      2.   Resources will be utilized if the project is selected for funding by DCA                                                                                       2.
      3.   Loans are for both construction and permanent financing phases                                                                                                 3.
      4.   Loans are for a minimum period of ten years and reflect interest rates at or below AFR.                                                                        4.
      5.   Commitment or award documentation meets the terms and conditions as applicable specified in Appendix I, Threshold Criteria, Section I (I).                     5.
 A. Grants/Loans                                                                                                                                                    3     A.    2       0
      1.   Community Development Block Grant (CDBG) program funds                    ($500,000 minimum)                                                             1     1.
      2.   Federal Home Loan Bank Affordable Housing Program (AHP)                   ($500,000 minimum)                                                             1     2.
      3.   HOME Funds (non DCA source)                                               ($500,000 minimum)                                                             1     3.
      4.   Long term Ground leases for nominal consideration and no other land costs                                                                                1     4.
      5.   NSP not allocated from DCA                                                ($1,000,000 minimum)                                                           2     5.
      6.   Beltline Grant                                                            ($1,000,000 minimum)                                                           2     6.
      7.   Housing Opportunity Bonds                                                 ($1,000,000 minimum)                                                           2     7.     2
      8.   HUD 202 or 811 program funds                                              ($3,000,000 minimum)                                                           3     8.
 B. Efficient use of DCA Resources                                                    DCA OAH HOME Loan Consent                                                     3     B.
 C. Off Site Improvement, Amenity and Facility Investment                                                                                                           2     C.
      1. Name of Unrelated Third Party
      2. Description of Improvement(s)



      3. Full Cost of Improvement

     Applicant's comments regarding this section of scoring:
A preliminary commitment letter from the Atlanta Development Authority for a $1,500,000 award of Housing Opportunity Bonds is included under Tab 5-A.




    DCA's Comments:




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           Georgia Department of Community Affairs                                                                     2011 Funding Application                                                                   Office of Affordable Housing
                                     PART NINE - SCORING CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                                                                     Score         Self DCA
                                                                                                                                                                                     Value        Score Score
                                                                                                                                                                  TOTALS:             90           56    10
18. SUPERIOR PROJECT CONCEPT AND DESIGN                                                                                                                                                6                           X
    Is the applicant claiming these points?                                                                                                                                                        Yes
    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
                                                                                                                                                                                                   Yes
    the application binder where indicated by the Tabs Checklist?
    Applicant's comments regarding this section of scoring:
A copy of the Superior Project Concept and Design Narrative and supporting documentation is included under Tab 39-A.


    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:
Our existing Georgia property, Northgate Village (Columbus), is in compliance with DCA MITAS System Requirements. We agree to market up to 5% of the units to tenants with Special Needs.
    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:
There are currently no uncured non-compliance issues at any of the properties the project principals are involved with. Please see Tab 3 for copies of the Project Team's Compliance Workbooks and Tab 38 for
copies of the Project Team's Compliance History Summary. The Project Team has been determined to be "Qualified without Conditions"; however, a Pre-Determination Letter has not yet been received from
                                                                                                                                                                                                                Row size may be
DCA. We have included a copy of the Project Team Qualifications posted on DCA's website on June 16th in Tab 19-B.                                                                                                 increased.
On June 21, 2011, Preservation Management Inc ("PMI Inc.), was determined by DCA to be "qualified without conditions". A copy of the list of approved management agent's is included in Tab 39-C.

    DCA's Comments:
                                                                                                                                                                                                                Row size may be
                                                                                                                                                                                                                  increased.


                                                                                      TOTAL POSSIBLE SCORE                                                                            90           56     10




           6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx - May 2011                                                            Part IX A-Scoring Criteria                                                                                 111 of 127
 Georgia Department of Community Affairs                                                                2011 Funding Application                                                       Office of Affordable Housing
                      PART NINE - SCORING CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                                              Score       Self DCA
                                                                                                                                                              Value      Score Score
                                                                                                                                             TOTALS:          90          56    10
(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                                                                                  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


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Georgia Department of Community Affairs                                                             2011 Funding Application                                       Office of Affordable Housing
                     PART NINE - SCORING CRITERIA - 2011-015 Briarcliff Summit Apartments , Atlanta, Fulton County
                                                                                                                                             Score    Self DCA
                                                                                                                                             Value   Score Score
                                                                                                                                   TOTALS:    90      56    10
                                              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




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    Georgia Department of Community Affairs                                                                            Office of Affordable Housing
                        Scoring Section 18 - Superior Project Concept and Design Narrative
                                                    Briarcliff Summit Apartments
                                                        Atlanta, Fulton County

INTRODUCTION: The Briarcliff Summit is an historic building located in a great Atlanta neighborhood and serving 201 elderly and
disabled households. More than half of the existing households are disabled and 99% of the units benefit from Project Based Section
8 subsidy. Briarcliff is a unique and extremely important affordable housing resource. The Section 8 contract is currently being
renewed annually and can be terminated at each anniversary. The property completed a fifteen year LIHTC compliance period at the
end of 2010 and is no longer subject to a Land Use Restriction Agreement. While the inherent appeal of the property sustains its              NOTE: Row siz
occupancy levels, the building is in dire need of rehabilitation. Its deteriorating condition threatens its ability to continue serving the   decreased as n
existing, vulnerable resident population, and is having a de-stabilizing affect on the neighborhood. Evergreen has the ability to restore     will hold only 2
and stabilize the physical property, and to implement a management plan that provides secure, affordable independent housing for
the current mix of disabled and elderly residents. The renovation and preservation of this property will have a dramatic positive
impact for the building residents and the community at large.

The property is inarguably unique. The existing disabled resident base, potentially expiring affordability, and historic significance in an
excellent location comprise a distinctly compelling fact pattern. The need for intervention is urgent as affirmed by the support shown
by the City, that Atlanta Development Authority, the Neighborhood Planning Unit, and, perhaps most notably, HUD’s designation of
Briarcliff as its High Priority property for the 2011 Funding Round. As discussed below, Briarcliff’s owners have repeatedly considered
converting the property to a conventional use. The property will undergo some sort of dramatic change over the next few years, and
that course will almost certainly not involve housing the current residents if Tax Credits are not awarded this year. 9% Tax Credits are
the only resource that can facilitate the preservation of Briarcliff as affordable housing. DCA has an outstanding opportunity to make
a tremendous difference for the disabled and elderly residents, and for the neighborhood. The acute nature of the current problem
distinguishes the preservation of Briarcliff from other tax credit transactions. The ability to serve more than 100 disabled households
also meets an overriding DCA policy objective that can almost never be addressed as significantly and cost effectively through the
Tax Credit program.

RESIDENT BASE: Briarcliff Summit currently operates at 96% percent occupancy despite its failing condition. There is a substantial
population of non-elderly disabled residents – approximately 60% of the building. The disabilities range from physical handicaps to
mental health and substance abuse challenges. Evergreen’s affiliated property management company, Preservation Management,
Inc. (PMI), is a national leader in the area of Supportive Services. PMI provides supportive services to most of the 75 properties it
manages. Evergreen and PMI also own and manage a number of properties that, like Briarcliff, are urban, Section 8 subsidized, and
have a predominance of disabled residents. Management of these properties is intensive. However, these communities can be
highly successful environments for the residents and financially sound investments for the owners. Starting with a high quality
building, implementing strong house rules, and providing support for the residents are all key components for this success. PMI will
employ a full time supportive services coordinator at the property and implement an intensive program - tying residents to the array of
services they need. PMI will also host programs and activities that bolster the skills and improve quality of life for the residents.
Partnerships with local service providers will help to enrich the resources made available to the residents. (Please see Supportive
Service Plan included as part of Tab 39-A.)

BUILDING LOCATION: The same neighborhood features that make the area popular for more affluent renters and homeowners also
make Briarcliff a great place to live for low-income elderly and disabled residents. As the area amenity map included in Tab 18-B &
24, show public transportation, shopping, medical facilities, churches and virtually all other services are easily accessible from the
property. Social service providers and others familiar with the area and with Briarcliff’s residents attest that there are few, if any,
comparable housing opportunities for this vulnerable population in the market area.

The physical building itself is ideal for operating this service enriched property for this resident mix. Once the redevelopment is
complete, the building will have a Health & Wellness Center, Fitness Room, Computer Center, and a large community room with a full
kitchen. These facilities will allow PMI to implement a broad array of programming and create a strong sense of community at the
property. Resident outreach, education and other programming around energy conservation and indoor air quality issues will be an
important piece of the culture at the property. Evergreen and PMI have been early leaders in this area through participation in HUD’s
Green Initiative and an array of other sustainability programs. We have experience in not only creating the required Green O&M and
Resident Guide materials, but in developing the practices needed to ensure that these principles take root with staff and property
residents. The renovation plan will also be certified under the Enterprise Green Communities program.



    2011 OAH Funding Round                          6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx                                           114 of 127
     Georgia Department of Community Affairs                                                                              Office of Affordable Housing
                        Scoring Section 18 - Superior Project Concept and Design Narrative
                                                     Briarcliff Summit Apartments
                                                         Atlanta, Fulton County

Briarcliff has remained a strong physical presence at the corner of Ponce de Leon and Highland Avenue for more than 85 years even
as the neighborhood around it has continued to grow and change. The property and community have reached a crossroads where it
is clear that if this cultural resource is not preserved it will be at great risk of permanent loss. The use of Historic Tax Credits in
Evergreen’s financing plan both helps to increase of cost effectiveness of DCA’s LIHTC resource, and ensures that the prominent
existing features of the neighborhood landmark will be restored and preserved.



CURRENT STATUS: The property is extremely well located at the southern gateway to the Virginia Highlands neighborhood. The
conversion of this property to a conventional use at some point in the future is a highly plausible threat. (Please see Regulatory
History/Status description included as part of Tab 39-A.) It is telling that several of the principals in the current ownership group had
bought into the property only six years ago with the intention of converting the building to condominium use at the end of the tax credit
compliance period. The economic crisis of the past few years has certainly dampened that prospect. However, because of the
property’s urgent and mounting physical needs, the current owner needs to achieve a recapitalization through one approach or
another. When Evergreen did not receive an allocation in the 2010 funding round, the owner proceeded to list the property for sale
with a broker, creating significant alarm among the residents and the advocate community. During the short period of time that the
property was listed, there was considerable interest from buyers who would seek to convert the property. The complexity of such a
conversion and the modest tenor of the economic recovery did introduce some uncertainty into this prospect, at least for the short run.
Evergreen was narrowly able to convince the owner that making another attempt at Tax Credits is their better alternative.

CONCLUSION: DCA has a rare opportunity to respond to a unique and urgent need and to make a community changing impact for
the residents and the neighborhood by deeming Briarcliff the Superior Concept transaction and making the requested allocation of
credits. The following list of policy objectives that can be achieved, separately and by their breadth in aggregation, illustrate Briarcliff’s
distinctive qualification for the Superior Concept designation.




 Affirmation of the intensive interest and support shown by HUD, the City of Atlanta, the Atlanta Development Authority, and the
Virginia Highlands Civic Association
 Certification under the Enterprise Green Communities Program, and implementation of Green O&M and Resident outreach through
practiced and refined materials and protocols.




     2011 OAH Funding Round                           6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx                                            115 of 127
Georgia Department of Community Affairs                                               Office of Affordable Housing
                 Scoring Section 18 - Superior Project Concept and Design Narrative
                                          Briarcliff Summit Apartments
                                              Atlanta, Fulton County




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Georgia Department of Community Affairs                                               Office of Affordable Housing




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Georgia Department of Community Affairs                                               Office of Affordable Housing




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Georgia Department of Community Affairs                                               Office of Affordable Housing




2011 OAH Funding Round                    6df81eaf-e97a-4dfa-9340-a0e84548880b.xlsx                   119 of 127
    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 120 of 127
    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 121 of 127
    [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 122 of 127
                                                                                           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        24,728,529
                                                        Brownfield Projects                                            132,577      151,976      184,804     239,075               262,432            n/a        29,674,193
                                                        Historic Rehab Projects                                        121,529      139,312      169,403     219,152               240,562            n/a        27,201,391
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%




                                 2010                                             Assumed Family Size Adjustments
                   Area             AMI                                            # Bdrms       Adj         AFS
            Albany                48,600                                                0            0.7           1
            Athens-Clarke County57,700                                                  1           0.75          1.5
                                  71,800
            Atlanta-Sandy Springs-Marietta                                              2            0.9           3
            Augusta-Richmond Co.  55,600                                                3           1.04          4.5
            Brunswick             54,700                                                4           1.16           6
            Butts Co.             55,900                                                5           1.28          7.5
            Chattanooga           55,900
            Columbus              51,800
            Dalton                52,400
            Gainesville           60,200
            Haralson Co.          47,500
                                  44,900
            Hinesville - Fort Stewart
            Lamar Co.             54,100
            Long Co.              40,400
            Macon                 53,200
            Meriwether Co.        47,200
            Monroe Co.            63,600
            Murray Co.            52,500
            Rome                  52,400
            Savannah              59,000
            Valdosta              48,300
            Warner Robins         66,000
            Appling Co.           43,400
            Atkinson Co.          40,600
            Bacon Co.             40,600
            Baldwin Co.           51,900
            Banks Co.             53,700
            Ben Hill Co.          41,100
            Berrien Co.           43,100
            Bleckley Co.          51,100
            Bulloch Co.           53,600
            Calhoun Co.           38,600
            Camden Co.            56,000
            Candler Co.           38,200
            Charlton Co.          41,600
            Chattooga Co.         45,100
            Clay Co.              34,600
            Clinch Co.            39,500
            Coffee Co.            44,700
            Colquitt Co.          43,300
Cook Co.         39,600
Crisp Co.        40,700
Decatur Co.      40,600
Dodge Co.        43,200
Dooly Co.        44,000
Early Co.        38,800
Elbert Co.       42,000
Emanuel Co.      38,500
Evans Co.        38,700
Fannin Co.       43,600
Franklin Co.     46,700
Gilmer Co.       46,600
Glascock Co.     45,500
Gordon Co.       53,200
Grady Co.        42,600
Greene Co.       49,500
Habersham Co.    52,600
Hancock Co.      33,900
Hart Co.         49,200
Irwin Co.        43,800
Jackson Co.      56,600
Jeff Davis Co.   38,500
Jefferson Co.    39,000
Jenkins Co.      36,800
Johnson Co.      36,900
Laurens Co.      47,600
Lincoln Co.      45,600
Lumpkin Co.      57,700
Macon Co.        36,600
Miller Co.       39,700
Mitchell Co.     38,900
Montgomery Co.   47,800
Morgan Co.       57,400
Peach Co.        53,100
Pierce Co.       44,700
Polk Co.         46,200
Pulaski Co.      48,500
Putnam Co.       53,900
Quitman Co.      38,200
Rabun Co.        49,800
Randolph Co.     37,700
Schley Co.       45,000
Screven Co.      43,200
Seminole Co.     41,400
Stephens Co.     44,400
Stewart Co.      36,800
Sumter Co.       43,800
Talbot Co.       43,800
Taliaferro Co.   34,600
Tattnall Co.     44,700
Taylor Co.       37,300
Telfair Co.      40,500
Thomas Co.       49,300
Tift Co.         48,600
Toombs Co.       42,900
Towns Co.        46,400
Treutlen Co.     40,700
Troup Co.        51,700
Turner Co.       39,100
Union Co.        49,500
Upson Co.        46,400
Ware Co.         45,700
Warren Co.       40,900
Washington Co.   45,200
Wayne Co.        49,100
Webster Co.      40,200
Wheeler Co.     36,900
White Co.       50,800
Wilcox Co.      43,500
Wilkes Co.      45,100
Wilkinson Co.   49,000
Maximum is project-specific
Maximum is project-specific
Maximum is project-specific

				
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