2011-026 Gateway Pines II Core.xlsx - DCA

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2011-026 Gateway Pines II Core.xlsx - DCA Powered By Docstoc
					       Georgia Department of Community Affairs                                                                                                                         Office of Affordable Housing
                                        2011 Application Binder Tabs Checklist For: 2011-026, Gateway Pines II Apartments, Lowndes County
           Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                        Included
Tab   Required Application Binder Tabs                    Required Tab Contents and Specified Order                                                                                                      in App
Nbr                                                                                                                                                                                                      Binder

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

3 Project Participants                                    Copies of Performance Workbook for all project participants                                                                                     Yes
                                                          Copies of DCA experience determinations/Waivers                                                                                                 Yes
                                                          Probationary participation approval                                                                                                             N/a
                                                          Explanation documentation, if applicable                                                                                                        Yes
                                                          Detailed statements and dates of all governmental debarments/ suspensions, criminal convictions, indictments, bankruptcies and pending criminal Yes
                                                          investigations of all Owners and Developers.
                                                          General Partner Organization Documents Including Operating Agreement                                                                            Yes
                                                          Developer Organization Documents                                                                                                                Yes
                                                          Partnership or Consulting Agreement Between Inexperienced and Experienced Entities, if applies (must have training plan)                        N/a
       96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                Application Tabs Checklist                                                                        1 of 124
       Georgia Department of Community Affairs                                                                                                                     Office of Affordable Housing
                                         2011 Application Binder Tabs Checklist For: 2011-026, Gateway Pines II Apartments, Lowndes County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                    Included
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                                                   in App
Nbr                                                                                                                                                                                                  Binder
4 Waivers/Preapprovals (Non financial)                   Pre determination of proposed Project Team Qualifications                                                                                   Yes
                                                         Architectural Standards Waiver                                                                                                              N/a
                                                         Amenities Pre-Approval                                                                                                                      N/a
                                                         Tenancy Characteristic Waiver Approval                                                                                                      N/a
                                                         Operating Expense Waiver Approval                                                                                                           N/a
                                                         Payment & Performance Bond Waiver                                                                                                           Yes
                                                         Other Waiver Approval                                                                                                                       N/a
      THRESHOLD DOCUMENTATION
5 Financing Commitments                                  Preliminary Financing Commitments - Debt, Equity, Historic Rehab Credits & Grants (if applicable)                                           Yes
                                                         CDBG documentation, if applicable                                                                                                           N/a
                                                         NSP Reservation and commitments, if applicable                                                                                              N/a
                                                         AHP Commitment and loan documents, if applicable                                                                                            N/a
                                                         Permanent Supportive Housing commitment                                                                                                     N/a
                                                         Documentation of Applicable Index Rate (for interest rates tied to an index), if applicable                                                 N/a
                                                         DCA HOME Loan consent pursuant to the pre-application process, if applicable                                                                Yes
                                                         Operating Subsidy Agreements, if applicable                                                                                                 N/a
                                                         HUD Under Consideration Letter & Lender Preliminary Commitment for HUD 221(d)3 or (d)4 Program, if applicable                               N/a
                                                         HUD Invitation to Submit, if applicable                                                                                                     N/a
                                                         USDA documentation, if applicable                                                                                                           N/a
                                                         Tax Abatement documentation, if applicable                                                                                                  N/a
                                                         Evidence of PBRA Agreements, if applicable                                                                                                  N/a
                                                         Other Financing Commitments                                                                                                                 Yes
                                                         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



       96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                               Application Tabs Checklist                                                                     2 of 124
       Georgia Department of Community Affairs                                                                                                                       Office of Affordable Housing
                                         2011 Application Binder Tabs Checklist For: 2011-026, Gateway Pines II Apartments, Lowndes 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                                                                                                 Yes

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

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

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

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

19 Qualifications for Project Team (Performance)         Organizational Chart (s) with all entities and individuals in the Project Participant Team organizational structures                                        Yes
                                                         Qualification of Project Participants Determination                                                                                                         Yes
                                                         Real estate properties disclosure                                                                                                                           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                                                                                                                     Yes
                                                         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


       96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                              Application Tabs Checklist                                                                                      3 of 124
       Georgia Department of Community Affairs                                                                                                                              Office of Affordable Housing
                                           2011 Application Binder Tabs Checklist For: 2011-026, Gateway Pines II Apartments, Lowndes 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                                                                                                                  Yes
                                                              US Census Tract documentation                                                                                                                                Yes
                                                              Certification for Contracts, Loans and Cooperative Agreements                                                                                                Yes
                                                              Disclosure of Lobbying Activities                                                                                                                            N/a
                                                              Applicant / Recipient Disclosure / Update Report                                                                                                             Yes
                                                              MBE / WBE Outreach Plan Guide form                                                                                                                           Yes
                                                              Affirmative Fair Housing Marketing Plan                                                                                                                      Yes

21 Required Legal Opinions                                    Legal Opinion for Assisted Living (as applicable)                                                                                                            N/a
                                                              LIHTC Legal Opinion as to Project Qualification for Acquisition Credits                                                                                      N/a
                                                              Accessibility exemption Legal Opinion (if applicable)                                                                                                        N/a
                                                              Legal opinion for scattered site projects. The legal opinion should address the proposed site plan and must be included as part of the opinion               N/a
                                                              Other legal (Explain in "Other" tab section at end of this checklist)                                                                                        No
22 Relocation (if applicable)                                 Relocation Displacement Spreadsheet                                                                                                                          N/a
                                                              Detailed Project-Specific Displacement/Relocation Plan and Budget                                                                                            N/a
                                                              Multifamily Tenant Relocation Plan Certification                                                                                                             N/a
                                                              Temporary Relocation Cost Estimate                                                                                                                           N/a
                                                              General Info Notice for Occupants at Time of App / Proof of Delivery                                                                                         N/a
                                                              Occupancy History                                                                                                                                            N/a
                                                              Site Map of Property                                                                                                                                         N/a
                                                              Tenant Household Data Forms                                                                                                                                  N/a
                                                              Site Relocation Survey                                                                                                                                       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                           N/a
                                                              Documentation from transit authority showing relevant bus route and schedule                                                                                 N/a




       96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                  Application Tabs Checklist                                                                                        4 of 124
       Georgia Department of Community Affairs                                                                                                                        Office of Affordable Housing
                                        2011 Application Binder Tabs Checklist For: 2011-026, Gateway Pines II Apartments, Lowndes 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                                    Yes
                                                          Master site plan for the development                                                                                                                        Yes
                                                          Copy of an executed EarthCraft Communities Memorandum of Participation for the development the project is locating within or LEED-ND registration           Yes
                                                          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.                                   N/a
                                                          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



       96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                              Application Tabs Checklist                                                                                       5 of 124
       Georgia Department of Community Affairs                                                                                                                           Office of Affordable Housing
                                         2011 Application Binder Tabs Checklist For: 2011-026, Gateway Pines II Apartments, Lowndes County
           Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                  Included
Tab   Required Application Binder Tabs                      Required Tab Contents and Specified Order                                                                                                              in App
Nbr                                                                                                                                                                                                                Binder
32 Tenant Ownership                                         Copy of Strategy meeting requirements                                                                                                                  N/a

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

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

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

36 DCA Community Initiatives                                Letter executed by Official Representative                                                                                                             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                                                    Superior Project Narrative                                                                                                                             Yes

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




       96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                 Application Tabs Checklist                                                                                 6 of 124
                                                        Project Narrative
                                                   Gateway Pines II Apartments
                                                    Hahira, Lowndes County

The proposed Gateway Pines Phase II in Hahira, Georgia is a 56 unit tax credit apartment community for senior Housing For Older
Persons residents earning 50% and 60% of area median income. The development is located in Lowndes County inside the city
limits of Hahira, Georgia. Gateway Pines II is the second phase of a planned development with common ownership in Hahira. The             NOTE: Row siz
first development, Gateway Pines (2010-004 family project), closed syndication and the construction loan with Regions bank May 25,        decreased as n
2011. Construction started on Phase I on June 13, 2011. The site has been cleared and other site work has started. Potential              will hold only 2
tenant interest in Phase I has been strong with one person already on a waiting list for the project.


The project is located in a USDA rural area. The 6.32 acre site is in a 120-acre planned mixed use development called “Hahira
Gateway” consisting of our Phase I family apartments as well as conventional homes, a grocery store, family duplexes, and retail
space. Hahira Gateway is patterned like a traditional village square with green spaces and the Town Centre being a shopping retail
area. The apartments will be within walking distance of a grocery store, a school, retail space, downtown Hahira and five city
maintained parks. Hahira is a golf cart community. Gateway Pines will have a golf cart path connecting the community to approved
golf cart roads. We will have golf cart and electric vehicle charging stations. This is the second phase of a phased development. A
third phase is planned if the market continues to grow.
The community is planned with one large two story building with elevators and interior hallways and entrances. Both the 1st and 2nd
floors will have a gathering place for residents to socialize. The 1st floor central community area will include the office, a library,
exercise room, central laundry and gathering spaces. The design of the building will foster a great sense of community among the
residents. The interior hallways create a secure environment for the residents. The building will be sprinkled for fire safety.
Residents will also have exterior gathering spaces including a covered pavillion with barbecue facilities and a gazebo.

The community will obtain a high degree of sustainability through incorporation of energy efficiency components and Green Building
techniques. The developer is applying for the Earthcraft Communities designation for the property. The residents will be provided
with amenities such as a computer center and exercise room and community activities that are not currently available to them in the
primary market area of Hahira. The senior residents will benefit from the sense of community and family generated by the activities
that will be available to them at Gateway Pines. Hahira has a very strong market for a senior tax credit project according to our
market analyst, Jerry Koontz. The proposed rents are well below area market rates.

A HOME loan consent has been approved in the amount of $1,470,000.

The developer of Gateway Pines II is ABC Developer, Inc. with David A. Brown as principal. David A. Brown has been a tax credit
developer since the beginning of the program and an affordable housing developer in excess of thirty years.




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                                    Project Narrative
                                Gateway Pines II Apartments
                                 Hahira, Lowndes County




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                   NOTE: Row size may be increased or
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96daa409-455d-4354-a28a-8425d039068e.xlsx   10 of 124
              Georgia Department of Community Affairs                                                                          2011 Funding Application                                                         Office of Affordable Housing
                                              PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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.                                             2011-026

I.        DCA RESOURCES                              LIHTC (auto-filled based on later entries)                   $              627,481
                                                     DCA HOME (amount from Consent Form)                          $           1,470,000

II.       TYPE OF APPLICATION                        Competitive Round                                  Other:
III.      APPLICANT CONTACT FOR APPLICATION REVIEW
          Name                                       Melanie Ferrell                                                                                      Title       Member
          Address                                    3548 North Crossing Circle                                                                           Direct Line
          City                                       Valdosta                                                                                             Fax                         (229) 245-1173
          State                                      GA                                              Zip+4              31602-6408                        Cellular                    (229) 561-0898
          Office Phone                               (229) 247-9956                                   Ext.            214       E-mail        mferrell@invmgt.com
          (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)

IV.       PROJECT LOCATION
          Project Name                               Gateway Pines II Apartments                                                                           Phased Project?            Yes- w/Master Plan
          Site Street Address                        1022 West Stanfill Street                                                                             Scattered Site?            No
          City                                       Hahira                                      9-digit Zip *      31632-4204                             Acreage                    6.32
          Within City Limits?                        Yes                                        County         Lowndes                                     Census Tract #             102.02
          In USDA Rural Area?                        Yes                                   HUD MSA/NonMSA Valdosta                                         QCT?          No                 DDA? No
                                                           Congressional *                 State Senate                 State House
          Legislative Districts                                  1                               8                          176
          If on boundary, other district:
          Political Jurisdiction                     City of Hahira
          Name of Chief Elected Official             Wayne Bullard                                                                  Title     Mayor
          Address                                    102 South Church Street                                                        City      Hahira
          Zip+4                                      31632-1406                       Phone                    (229) 794-2330                     Fax            (229) 794-9310

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                                 56
          Adaptive Reuse
          Acquisition/Rehabilitation                                For Acquisition/Rehabilitation, date of original construction:
          Substantial Rehabilitation
          Historic Rehab




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                  Part I-Project Information                                                                       11 of 124
              Georgia Department of Community Affairs                                                                  2011 Funding Application                                               Office of Affordable Housing
                                           PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

        C. Unit Breakdown                                                                     # of PBRA              D. Unit Area
           Number of Low Income Units                                                 56         Units                  Total Low Income Residential Square Footage                  58,080
                        Number of 50% Units                                           12                                Total Unrestricted (Market) Residential Square Footage
                        Number of 60% Units                                           44                                Total Residential Square Footage                             58,080
           Number of Unrestricted (Market) Units                                                                        Total Common Space Square Footage from Units
           Total Residential Units                                                    56                                Total Square Footage from Units                              58,080
           Common Space Units
           Total Units                                                                56
        E. Buildings    Number of Residential Buildings                               1                                 Total Common Area Square Footage from Nonresidential areas
                        Number of Non-Residential Buildings                                                             Total Square Footage                                         58,080
                        Total Number of Buildings                                     1
        F. Total Residential Parking Spaces (min 1.5 per unit)

VI.        TENANCY CHARACTERISTICS
        A. Family or Senior                                                       Senior (HFOP)                         If Other, specify:
        B. Mobility Impaired                         Nbr of Units Equipped:           3                                 % of Total Units                                             5.4%
        C. Sight / Hearing Impaired                  Nbr of Units Equipped:           2                                 % of Total Units                                             3.6%
        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                     Yes

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

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




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                          Part I-Project Information                                                             12 of 124
             Georgia Department of Community Affairs                                                                 2011 Funding Application                                        Office of Affordable Housing
                                          PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

X.       AWARD LIMITATIONS FOR CURRENT DCA COMPETITIVE ROUND
         The following sections apply to all direct and indirect Owners, Developers and Consultants (Entity and Principal) :
      A. Number of Applications Submitted:                                        2
      B. Amount of Federal Tax Credits in All Applications:                   1,201,432
      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
         David A. Brown                          Gateway Pines II                                      ABC Developer, Inc.                       Chestnut Village
         David A. Brown                          Chestnut Village                                      9
         Melanie Ferrell                         Gateway Pines II                                      10
         Melanie Ferrell                         Chestnut Village                                      11
         Houston Brown                           Gateway Pines II                                      12
         Houston Brown                           Chestnut Village                                      13
         ABC Developer, Inc.                     Gateway Pines II                                      14

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

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




             96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                        Part I-Project Information                                                       13 of 124
              Georgia Department of Community Affairs                                                                  2011 Funding Application                                                                Office of Affordable Housing
                                                PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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?                         If yes, expiration year:                       Nbr yrs to forgo cancellation option:
      C. Is there a Tenant Ownership Plan?                                                 No
      D. Is the Project Currently Occupied?                                                No
         Total Existing Units
         Number Occupied
         % Existing Occupied
      E. Waivers and/or Pre-Approvals - have the following waivers and/or pre-approvals been approved by DCA?
         Amenities?                                                                        No                                       Other Tenancy?                                                No
         Architectural Standards?                                                          No                                       Probationary Participation?                                   No
         HOME Consent?                                                                     Yes                                      Service Requirement (for small rural projects)?               No
         Qualification Determination?                                                      Yes                                      Payment & Performance Bond?                                   No
         Pre-determination of Qualification to Compete?                                    No
         Operating Expense?                                                                No     ---------------------------> If Yes, new Limit is:
         Other (specify waiver):                                                           No
      F. Projected Place-In-Service Date
         Acquisition
         Rehab
         New Construction                                                              September 30, 2013
XIII.    APPLICANT COMMENTS AND CLARIFICATIONS                                                                      XV.             DCA COMMENTS - DCA USE ONLY
Payment and Performance Bond waiver was applied for during pre-application.




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


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       Georgia Department of Community Affairs                                                                           2011 Funding Application                                                                              Office of Affordable Housing
                                   PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

       96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                   Part I-Project Information                                                                                              15 of 124
   Georgia Department of Community Affairs                                                                          2011 Funding Application                                                                               Office of Affordable Housing
                             PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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     Georgia Department of Community Affairs                                                                                            2011 Funding Application                                                                                   Office of Affordable Housing
                                               PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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                         PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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                         PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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                         PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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                         PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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                         PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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                         PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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                         PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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                         PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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                         PART ONE - PROJECT INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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

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




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     Georgia Department of Community Affairs                                    2011 Funding Application                                                    Office of Affordable Housing
                                  PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

I.    OWNERSHIP INFORMATION

      A. OWNERSHIP ENTITY                            Gateway Pines II Hahira, LP                                                              Name of Principal       David A. Brown
             Office Street Address                   3548 North Crossing Circle                                                               Title of Principal      Managing Member
             City                                    Valdosta                             Fed Tax ID:                                         Direct line
             State                                       GA       Zip+4 *            31602-6408       HQ Congressional District *     1       Cellular                (229) 292-1316
             10-Digit Office Phone / Ext.            (229) 247-9956               212         Fax          (229) 245-1173              E-mail dbrown@invmgt.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             Gateway Pines II Hahira Partners, LLC                                                    Name of Principal          David A. Brown
               Office Street Address              3548 North Crossing Circle                                                               Title of Principal         Managing Member
               City                               Valdosta                                                                                 Direct line
               State                                  GA      Zip+4 *         31602-6408          HQ Congressional District *      1       Cellular                   (229) 292-1316
               10-Digit Office Phone / Ext.       (229) 247-9956           212          Fax             (229) 245-1173              E-mail dbrown@invmgt.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            Regions Bank                                                                            Name of Principal      Reed Dolihite
               Office Street Address              1900 5th Avenue North, 25th Floor                                                       Title of Principal     Director of Acquisitions
               City                               Birmingham                                                                              Direct line
               State                                  AL       Zip+4         35203-2667                                                   Cellular
               10-Digit Office Phone / Ext.       (205) 264-4017                      Fax               (205) 306-3451             E-mail reed.dolihite@regions.com
            b. State Limited Partner              Gardner Capital, Inc.                                                                   Name of Principal   Mark Gardner
               Office Street Address              1414 E. Primrose St., Suite 100                                                         Title of Principal  President
               City                               Springfield                                                                             Direct line         (417) 447-1802
               State                                  Mo       Zip+4           65804-4283                                                 Cellular
               10-Digit Office Phone / Ext.       (417) 447-1800                        Fax             (417) 864-7894             E-mail mgardner@gardnercapital.com



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                               PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                              ABC Developer, Inc                                                       Name of Principal       David A. Brown
           Office Street Address             3548 North Crossing Circle                                               Title of Principal      President
           City                              Valdosta                                                                 Direct line
           State                                 GA       Zip+4          31602-6408                                   Cellular                (229) 292-1316
           10-Digit Office Phone / Ext.      (229) 247-9956           212         Fax         (229) 245-1173   E-mail dbrown@invmgt.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




 96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                      Part II-Development Team                                                            28 of 124
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                              PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                    McLain & Brown Construction Company, Inc                                   Name of Principal       Houston Brown
          Office Street Address             3548 North Crossing Circle                                                 Title of Principal      Vice-President
          City                              Valdosta                                                                   Direct line
          State                                 GA       Zip+4          31602-6408                                     Cellular
          10-Digit Office Phone / Ext.      (229) 244-0644           213         Fax          (229) 245-1173    E-mail hbrown@invmgt.com
   C. MANAGEMENT COMPANY                    Investors Managmeent Company of Valdosta, Inc.                             Name of Principal  David A. Brown
          Office Street Address             3548 North Crossing Circle                                                 Title of Principal President
          City                              Valdosta                                                                   Direct line
          State                                 GA       Zip+4          31602-6408                                     Cellular           (229) 292-1316
          10-Digit Office Phone / Ext.      (229) 247-9956           223         Fax          (229) 245-1173    E-mail bwatson@invmgt.com
   D. ATTORNEY                              ColemanTalley LLP                                                          Name of Principal      Tom Kurrie
          Office Street Address             910 North Patterson Street                                                 Title of Principal     Partner
          City                              Valdosta                                                                   Direct line            (229) 671-8216
          State                                 GA       Zip+4         30363-1031                                      Cellular               (229) 300-1404
          10-Digit Office Phone / Ext.      (229) 242-7562                      Fax           (229) 333-0885    E-mail tom.kurrie@colemanta​lley.com
   E. ACCOUNTANT                            Habif Arogeti & Wynne, PC                                                  Name of Principal    Frank Gudger
          Office Street Address             Glenridge Highlands Two, 5565 Glenridge Connector, Suite 200               Title of Principal   Partner
          City                              Atlanta                                                                    Direct line
          State                                 GA        Zip+4        30342-4728                                      Cellular
          10-Digit Office Phone / Ext.      (404) 892-9651                       Fax           (404) 876-3913   E-mail frank.gudger@hawcpa.com
   F. ARCHITECT                             Ingram Parris Group, Inc.                                                  Name of Principal      Robert Byington, Jr.
           Office Street Address            807 Northwood Park drive                                                   Title of Principal     Architect
           City                             Valdosta                                                                   Direct line
           State                                GA       Zip+4          31602-1393                                     Cellular
           10-Digit Office Phone / Ext.     (229) 242-6557                       Fax          (229) 242-4339    E-mail rbyington@ipgarchitects.com




 96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                      Part II-Development Team                                                             29 of 124
     Georgia Department of Community Affairs                                              2011 Funding Application                                                    Office of Affordable Housing
                                      PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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


Manage GP                  No                 No                  No                         Yes                        No                           No                   For Profit            0.0090%
Other GP1
Other GP2
Federal LP                 No                 No                  No                         No                         No                           No                   For Profit           99.9810%
State LP                   No                 No                  No                         No                         No                           No                   For Profit            0.0100%
NP Sponsor
Developer                  No                 No                  No                         Yes                        No                           No                   For Profit            0.0000%
Co-Develpr 1
Co-Develpr 2
Ownr Consult
Dev Consult
Contractor                 No                 No                  No                         Yes                        No                           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
Please see explanation of Identity of Interest in Binder Tab 3.




     96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                   Part II-Development Team                                                                         30 of 124
Georgia Department of Community Affairs                         2011 Funding Application                                    Office of Affordable Housing
                          PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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

96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011              Part II-Development Team                                                      31 of 124
Georgia Department of Community Affairs                         2011 Funding Application                                    Office of Affordable Housing
                          PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

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




96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011              Part II-Development Team                                                      32 of 124
      Georgia Department of Community Affairs                                                    2011 Funding Application                                                                Office of Affordable Housing
                                          PART THREE - SOURCES OF FUNDS - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County


I.     GOVERNMENT FUNDING SOURCES (check all that apply)

          Yes       Tax Credits                Yes     DCA HOME* --> amt from DCA Consent Ltr:                1,470,000                                   Historic Rehab Credits
                    Tax Exempt Bonds                   DCA PSHP HOME*                                               CDBG                                  FHA Insured Mortgage
                    Taxable Bonds                      Other HOME*                                                  FHA Risk Share                        Other NSP* - Amount:
                    USDA 515                           USDA 538                             HOPE VI                 FHLB / AHP*                           Other - describe here
       *This source may possibly trigger Uniform Relocation Act and/or HUD 104(d) reqmts. Check with source. For DCA HOME, refer to Relocation Manual. NSP = Neighborhood Stabilization Program


II.    CONSTRUCTION FINANCING

       Financing Type                                                           Name of Financing Entity                                Amount            Effective Interest Rate   Term (In Months)
       Mortgage A                                                               HOME                                                         1,470,000
       Mortgage B                                                               Regions Bank bridge loan                                     1,531,243           6.000%                     24
       Mortgage C                                                               Regions Bank construction loan                                 250,000           6.000%                     24
       Federal Grant
       State, Local, or Private Grant
       Deferred Developer Fees
       Federal Housing Credit Equity                                            Regions                                                      2,446,686
       State Housing Credit Equity                                              Gardner Capital, Inc.                                          784,352
       Other Type (specify)
       Other Type (specify)
       Other Type (specify)
       Total Construction Financing:                                                                                                         6,482,281
       Total Construction Period Costs from Development Budget:                                                                              6,482,281
       Surplus / (Shortage) of Construction funds to Construction costs:                                                                              0




      96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                           Part III A-Sources of Funds                                                                            33 of 124
       Georgia Department of Community Affairs                                                          2011 Funding Application                                                            Office of Affordable Housing
                                             PART THREE - SOURCES OF FUNDS - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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
        N/A                               Neither                                                         0      0.000%           0          0                                Amortizing          n/a
        Mortgage A                        DCA / HOME                                              1,470,000      1.000%          20         20                   51,000     DCA HOME IPS         1.25
        Mortgage B
        Other:
        Grant from foundation or charity
        Deferred Devlpr Fee        0.10% ABC Developer                                                   982     0.000%            1        1                                 Cash Flow
        Federal Grant                                                                                                                                                                                              TC Equity
        State, Local, or Private Grant                                                                               Equity Check          +/-                                                                     % of TDC
        Federal Housing Credit Equity     Regions Bank                                            4,893,373           4,894,352                 -979 Proposed DCA HOME Loan Interest Rate by Operating               62%
        State Housing Credit Equity       Gardner Capital, Inc.                                   1,568,703           1,568,703                    1           Year for Projects in Rural Areas:                     20%
        Historic Credit Equity                                                                                                                        Year:       1 -7         8        9          10                81%
        Invstmt Earnings: T-E Bonds                                                                                                                   Rate:     1.000%     0.500%   0.500%      0.500%
        Invstmt Earnings: Taxable Bonds                                                                                                                11         12          13       14          15
        Income from Operations                                                                                                                       0.500%     0.500%     0.500%   0.500%      0.500%
        Other:                                                                                                                                          16         17         18       19          20
        Other:                                                                                                                                       0.250%     0.250%     0.250%   0.250%      0.250%
        Other:                                                                                                                                          21         22         23       24          25
        Total Permanent Financing:                                                          7,933,058
        Total Development Costs from Development Budget:                                    7,933,058                                                   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
Federal credit investor purchasing .9998 of the federal credits leaving a small DDF.




25% of tax credit equity at closing, 25% of equity at 50% construction completion = 50% total during construction.




       96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                 Part III A-Sources of Funds                                                                        34 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
       PART III B: USD 538 LOAN - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                       #NUM!                  #NUM!                    #NUM!
 Monthly P & I                                      #NUM!                  #NUM!                    #NUM!

                                 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                                               35 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                  36 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                  37 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                  38 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                  39 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                  40 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                  41 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                  42 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                  43 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                  44 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                  45 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations




Georgia Department of Community Affairs        Part III B-USDA 538 Loan                46 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                         47 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                         48 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                         49 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                         50 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                         51 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                         52 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                         53 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                         54 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                         55 of 124
                               2011 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                         56 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
   PART III C - HUD INSURED LOAN - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

                                                       I. Data Input

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

HUD Mortgage Insurance Premium                                                  per annum

Loan Term                                                                       years

Amortization Period                                                             years

Annual Debt Service at Effective Rate                           #NUM!           (Excluding MIP)

Monthly Debt Service at Effective Rate                          #NUM!           (Excluding MIP)




                              II. HUD Mortgage Insurance Premium / Debt Service


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




Georgia Department of Community Affairs           Part III C-HUD Insured Loan                              page 57 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal         Balance       Year
Close                                                                                     $0.00
       1                  $0.00                  $0.00                      $0.00         $0.00
       2                  $0.00                  $0.00                      $0.00         $0.00
       3                  $0.00                  $0.00                      $0.00         $0.00
       4                  $0.00                  $0.00                      $0.00         $0.00
       5                  $0.00                  $0.00                      $0.00         $0.00
       6                  $0.00                  $0.00                      $0.00         $0.00
       7                  $0.00                  $0.00                      $0.00         $0.00
       8                  $0.00                  $0.00                      $0.00         $0.00
       9                  $0.00                  $0.00                      $0.00         $0.00
      10                  $0.00                  $0.00                      $0.00         $0.00
      11                  $0.00                  $0.00                      $0.00         $0.00
      12                  $0.00                  $0.00                      $0.00         $0.00    1
      13                  $0.00                  $0.00                      $0.00         $0.00
      14                  $0.00                  $0.00                      $0.00         $0.00
      15                  $0.00                  $0.00                      $0.00         $0.00
      16                  $0.00                  $0.00                      $0.00         $0.00
      17                  $0.00                  $0.00                      $0.00         $0.00
      18                  $0.00                  $0.00                      $0.00         $0.00
      19                  $0.00                  $0.00                      $0.00         $0.00
      20                  $0.00                  $0.00                      $0.00         $0.00
      21                  $0.00                  $0.00                      $0.00         $0.00
      22                  $0.00                  $0.00                      $0.00         $0.00
      23                  $0.00                  $0.00                      $0.00         $0.00
      24                  $0.00                  $0.00                      $0.00         $0.00    2
      25                  $0.00                  $0.00                      $0.00         $0.00
      26                  $0.00                  $0.00                      $0.00         $0.00
      27                  $0.00                  $0.00                      $0.00         $0.00
      28                  $0.00                  $0.00                      $0.00         $0.00
      29                  $0.00                  $0.00                      $0.00         $0.00
      30                  $0.00                  $0.00                      $0.00         $0.00
      31                  $0.00                  $0.00                      $0.00         $0.00
      32                  $0.00                  $0.00                      $0.00         $0.00
      33                  $0.00                  $0.00                      $0.00         $0.00
      34                  $0.00                  $0.00                      $0.00         $0.00
      35                  $0.00                  $0.00                      $0.00         $0.00
      36                  $0.00                  $0.00                      $0.00         $0.00    3
      37                  $0.00                  $0.00                      $0.00         $0.00
      38                  $0.00                  $0.00                      $0.00         $0.00
      39                  $0.00                  $0.00                      $0.00         $0.00
      40                  $0.00                  $0.00                      $0.00         $0.00
      41                  $0.00                  $0.00                      $0.00         $0.00
      42                  $0.00                  $0.00                      $0.00         $0.00
      43                  $0.00                  $0.00                      $0.00         $0.00
      44                  $0.00                  $0.00                      $0.00         $0.00
      45                  $0.00                  $0.00                      $0.00         $0.00
      46                  $0.00                  $0.00                      $0.00         $0.00
      47                  $0.00                  $0.00                      $0.00         $0.00
      48                  $0.00                  $0.00                      $0.00         $0.00    4




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                  page 58 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal         Balance       Year
      49                  $0.00                  $0.00                      $0.00         $0.00
      50                  $0.00                  $0.00                      $0.00         $0.00
      51                  $0.00                  $0.00                      $0.00         $0.00
      52                  $0.00                  $0.00                      $0.00         $0.00
      53                  $0.00                  $0.00                      $0.00         $0.00
      54                  $0.00                  $0.00                      $0.00         $0.00
      55                  $0.00                  $0.00                      $0.00         $0.00
      56                  $0.00                  $0.00                      $0.00         $0.00
      57                  $0.00                  $0.00                      $0.00         $0.00
      58                  $0.00                  $0.00                      $0.00         $0.00
      59                  $0.00                  $0.00                      $0.00         $0.00
      60                  $0.00                  $0.00                      $0.00         $0.00
      61                  $0.00                  $0.00                      $0.00         $0.00
      62                  $0.00                  $0.00                      $0.00         $0.00    5
      63                  $0.00                  $0.00                      $0.00         $0.00
      64                  $0.00                  $0.00                      $0.00         $0.00
      65                  $0.00                  $0.00                      $0.00         $0.00
      66                  $0.00                  $0.00                      $0.00         $0.00
      67                  $0.00                  $0.00                      $0.00         $0.00
      68                  $0.00                  $0.00                      $0.00         $0.00
      69                  $0.00                  $0.00                      $0.00         $0.00
      70                  $0.00                  $0.00                      $0.00         $0.00
      71                  $0.00                  $0.00                      $0.00         $0.00
      72                  $0.00                  $0.00                      $0.00         $0.00
      73                  $0.00                  $0.00                      $0.00         $0.00
      74                  $0.00                  $0.00                      $0.00         $0.00    6
      75                  $0.00                  $0.00                      $0.00         $0.00
      76                  $0.00                  $0.00                      $0.00         $0.00
      77                  $0.00                  $0.00                      $0.00         $0.00
      78                  $0.00                  $0.00                      $0.00         $0.00
      79                  $0.00                  $0.00                      $0.00         $0.00
      80                  $0.00                  $0.00                      $0.00         $0.00
      81                  $0.00                  $0.00                      $0.00         $0.00
      82                  $0.00                  $0.00                      $0.00         $0.00
      83                  $0.00                  $0.00                      $0.00         $0.00
      84                  $0.00                  $0.00                      $0.00         $0.00    7
      85                  $0.00                  $0.00                      $0.00         $0.00
      86                  $0.00                  $0.00                      $0.00         $0.00
      87                  $0.00                  $0.00                      $0.00         $0.00
      88                  $0.00                  $0.00                      $0.00         $0.00
      89                  $0.00                  $0.00                      $0.00         $0.00
      90                  $0.00                  $0.00                      $0.00         $0.00
      91                  $0.00                  $0.00                      $0.00         $0.00
      92                  $0.00                  $0.00                      $0.00         $0.00
      93                  $0.00                  $0.00                      $0.00         $0.00
      94                  $0.00                  $0.00                      $0.00         $0.00
      95                  $0.00                  $0.00                      $0.00         $0.00
      96                  $0.00                  $0.00                      $0.00         $0.00    8




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                  page 59 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal         Balance       Year
      97                  $0.00                  $0.00                      $0.00         $0.00
      98                  $0.00                  $0.00                      $0.00         $0.00
      99                  $0.00                  $0.00                      $0.00         $0.00
     100                  $0.00                  $0.00                      $0.00         $0.00
     101                  $0.00                  $0.00                      $0.00         $0.00
     102                  $0.00                  $0.00                      $0.00         $0.00
     103                  $0.00                  $0.00                      $0.00         $0.00
     104                  $0.00                  $0.00                      $0.00         $0.00
     105                  $0.00                  $0.00                      $0.00         $0.00
     106                  $0.00                  $0.00                      $0.00         $0.00
     107                  $0.00                  $0.00                      $0.00         $0.00
     108                  $0.00                  $0.00                      $0.00         $0.00    9
     109                  $0.00                  $0.00                      $0.00         $0.00
     110                  $0.00                  $0.00                      $0.00         $0.00
     111                  $0.00                  $0.00                      $0.00         $0.00
     112                  $0.00                  $0.00                      $0.00         $0.00
     113                  $0.00                  $0.00                      $0.00         $0.00
     114                  $0.00                  $0.00                      $0.00         $0.00
     115                  $0.00                  $0.00                      $0.00         $0.00
     116                  $0.00                  $0.00                      $0.00         $0.00
     117                  $0.00                  $0.00                      $0.00         $0.00
     118                  $0.00                  $0.00                      $0.00         $0.00
     119                  $0.00                  $0.00                      $0.00         $0.00
     120                  $0.00                  $0.00                      $0.00         $0.00   10
     121                  $0.00                  $0.00                      $0.00         $0.00
     122                  $0.00                  $0.00                      $0.00         $0.00
     123                  $0.00                  $0.00                      $0.00         $0.00
     124                  $0.00                  $0.00                      $0.00         $0.00
     125                  $0.00                  $0.00                      $0.00         $0.00
     126                  $0.00                  $0.00                      $0.00         $0.00
     127                  $0.00                  $0.00                      $0.00         $0.00
     128                  $0.00                  $0.00                      $0.00         $0.00
     129                  $0.00                  $0.00                      $0.00         $0.00
     130                  $0.00                  $0.00                      $0.00         $0.00
     131                  $0.00                  $0.00                      $0.00         $0.00
     132                  $0.00                  $0.00                      $0.00         $0.00   11
     133                  $0.00                  $0.00                      $0.00         $0.00
     134                  $0.00                  $0.00                      $0.00         $0.00
     135                  $0.00                  $0.00                      $0.00         $0.00
     136                  $0.00                  $0.00                      $0.00         $0.00
     137                  $0.00                  $0.00                      $0.00         $0.00
     138                  $0.00                  $0.00                      $0.00         $0.00
     139                  $0.00                  $0.00                      $0.00         $0.00
     140                  $0.00                  $0.00                      $0.00         $0.00
     141                  $0.00                  $0.00                      $0.00         $0.00
     142                  $0.00                  $0.00                      $0.00         $0.00
     143                  $0.00                  $0.00                      $0.00         $0.00
     144                  $0.00                  $0.00                      $0.00         $0.00   12




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                  page 60 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal         Balance       Year
     145                  $0.00                  $0.00                      $0.00         $0.00
     146                  $0.00                  $0.00                      $0.00         $0.00
     147                  $0.00                  $0.00                      $0.00         $0.00
     148                  $0.00                  $0.00                      $0.00         $0.00
     149                  $0.00                  $0.00                      $0.00         $0.00
     150                  $0.00                  $0.00                      $0.00         $0.00
     151                  $0.00                  $0.00                      $0.00         $0.00
     152                  $0.00                  $0.00                      $0.00         $0.00
     153                  $0.00                  $0.00                      $0.00         $0.00
     154                  $0.00                  $0.00                      $0.00         $0.00
     155                  $0.00                  $0.00                      $0.00         $0.00
     156                  $0.00                  $0.00                      $0.00         $0.00   13
     157                  $0.00                  $0.00                      $0.00         $0.00
     158                  $0.00                  $0.00                      $0.00         $0.00
     159                  $0.00                  $0.00                      $0.00         $0.00
     160                  $0.00                  $0.00                      $0.00         $0.00
     161                  $0.00                  $0.00                      $0.00         $0.00
     162                  $0.00                  $0.00                      $0.00         $0.00
     163                  $0.00                  $0.00                      $0.00         $0.00
     164                  $0.00                  $0.00                      $0.00         $0.00
     165                  $0.00                  $0.00                      $0.00         $0.00
     166                  $0.00                  $0.00                      $0.00         $0.00
     167                  $0.00                  $0.00                      $0.00         $0.00
     168                  $0.00                  $0.00                      $0.00         $0.00   14
     169                  $0.00                  $0.00                      $0.00         $0.00
     170                  $0.00                  $0.00                      $0.00         $0.00
     171                  $0.00                  $0.00                      $0.00         $0.00
     172                  $0.00                  $0.00                      $0.00         $0.00
     173                  $0.00                  $0.00                      $0.00         $0.00
     174                  $0.00                  $0.00                      $0.00         $0.00
     175                  $0.00                  $0.00                      $0.00         $0.00
     176                  $0.00                  $0.00                      $0.00         $0.00
     177                  $0.00                  $0.00                      $0.00         $0.00
     178                  $0.00                  $0.00                      $0.00         $0.00
     179                  $0.00                  $0.00                      $0.00         $0.00
     180                  $0.00                  $0.00                      $0.00         $0.00   15
     181                  $0.00                  $0.00                      $0.00         $0.00
     182                  $0.00                  $0.00                      $0.00         $0.00
     183                  $0.00                  $0.00                      $0.00         $0.00
     184                  $0.00                  $0.00                      $0.00         $0.00
     185                  $0.00                  $0.00                      $0.00         $0.00
     186                  $0.00                  $0.00                      $0.00         $0.00
     187                  $0.00                  $0.00                      $0.00         $0.00
     188                  $0.00                  $0.00                      $0.00         $0.00
     189                  $0.00                  $0.00                      $0.00         $0.00
     190                  $0.00                  $0.00                      $0.00         $0.00
     191                  $0.00                  $0.00                      $0.00         $0.00
     192                  $0.00                  $0.00                      $0.00         $0.00   16




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                  page 61 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal         Balance       Year
     193                  $0.00                  $0.00                      $0.00         $0.00
     194                  $0.00                  $0.00                      $0.00         $0.00
     195                  $0.00                  $0.00                      $0.00         $0.00
     196                  $0.00                  $0.00                      $0.00         $0.00
     197                  $0.00                  $0.00                      $0.00         $0.00
     198                  $0.00                  $0.00                      $0.00         $0.00
     199                  $0.00                  $0.00                      $0.00         $0.00
     200                  $0.00                  $0.00                      $0.00         $0.00
     201                  $0.00                  $0.00                      $0.00         $0.00
     202                  $0.00                  $0.00                      $0.00         $0.00
     203                  $0.00                  $0.00                      $0.00         $0.00
     204                  $0.00                  $0.00                      $0.00         $0.00   17
     205                  $0.00                  $0.00                      $0.00         $0.00
     206                  $0.00                  $0.00                      $0.00         $0.00
     207                  $0.00                  $0.00                      $0.00         $0.00
     208                  $0.00                  $0.00                      $0.00         $0.00
     209                  $0.00                  $0.00                      $0.00         $0.00
     210                  $0.00                  $0.00                      $0.00         $0.00
     211                  $0.00                  $0.00                      $0.00         $0.00
     212                  $0.00                  $0.00                      $0.00         $0.00
     213                  $0.00                  $0.00                      $0.00         $0.00
     214                  $0.00                  $0.00                      $0.00         $0.00
     215                  $0.00                  $0.00                      $0.00         $0.00
     216                  $0.00                  $0.00                      $0.00         $0.00   18
     217                  $0.00                  $0.00                      $0.00         $0.00
     218                  $0.00                  $0.00                      $0.00         $0.00
     219                  $0.00                  $0.00                      $0.00         $0.00
     220                  $0.00                  $0.00                      $0.00         $0.00
     221                  $0.00                  $0.00                      $0.00         $0.00
     222                  $0.00                  $0.00                      $0.00         $0.00
     223                  $0.00                  $0.00                      $0.00         $0.00
     224                  $0.00                  $0.00                      $0.00         $0.00
     225                  $0.00                  $0.00                      $0.00         $0.00
     226                  $0.00                  $0.00                      $0.00         $0.00
     227                  $0.00                  $0.00                      $0.00         $0.00
     228                  $0.00                  $0.00                      $0.00         $0.00   19
     229                  $0.00                  $0.00                      $0.00         $0.00
     230                  $0.00                  $0.00                      $0.00         $0.00
     231                  $0.00                  $0.00                      $0.00         $0.00
     232                  $0.00                  $0.00                      $0.00         $0.00
     233                  $0.00                  $0.00                      $0.00         $0.00
     234                  $0.00                  $0.00                      $0.00         $0.00
     235                  $0.00                  $0.00                      $0.00         $0.00
     236                  $0.00                  $0.00                      $0.00         $0.00
     237                  $0.00                  $0.00                      $0.00         $0.00
     238                  $0.00                  $0.00                      $0.00         $0.00
     239                  $0.00                  $0.00                      $0.00         $0.00
     240                  $0.00                  $0.00                      $0.00         $0.00   20




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                  page 62 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal         Balance       Year
     241                  $0.00                  $0.00                      $0.00         $0.00
     242                  $0.00                  $0.00                      $0.00         $0.00
     243                  $0.00                  $0.00                      $0.00         $0.00
     244                  $0.00                  $0.00                      $0.00         $0.00
     245                  $0.00                  $0.00                      $0.00         $0.00
     246                  $0.00                  $0.00                      $0.00         $0.00
     247                  $0.00                  $0.00                      $0.00         $0.00
     248                  $0.00                  $0.00                      $0.00         $0.00
     249                  $0.00                  $0.00                      $0.00         $0.00
     250                  $0.00                  $0.00                      $0.00         $0.00
     251                  $0.00                  $0.00                      $0.00         $0.00
     252                  $0.00                  $0.00                      $0.00         $0.00   21
     253                  $0.00                  $0.00                      $0.00         $0.00
     254                  $0.00                  $0.00                      $0.00         $0.00
     255                  $0.00                  $0.00                      $0.00         $0.00
     256                  $0.00                  $0.00                      $0.00         $0.00
     257                  $0.00                  $0.00                      $0.00         $0.00
     258                  $0.00                  $0.00                      $0.00         $0.00
     259                  $0.00                  $0.00                      $0.00         $0.00
     260                  $0.00                  $0.00                      $0.00         $0.00
     261                  $0.00                  $0.00                      $0.00         $0.00
     262                  $0.00                  $0.00                      $0.00         $0.00
     263                  $0.00                  $0.00                      $0.00         $0.00
     264                  $0.00                  $0.00                      $0.00         $0.00   22
     265                  $0.00                  $0.00                      $0.00         $0.00
     266                  $0.00                  $0.00                      $0.00         $0.00
     267                  $0.00                  $0.00                      $0.00         $0.00
     268                  $0.00                  $0.00                      $0.00         $0.00
     269                  $0.00                  $0.00                      $0.00         $0.00
     270                  $0.00                  $0.00                      $0.00         $0.00
     271                  $0.00                  $0.00                      $0.00         $0.00
     272                  $0.00                  $0.00                      $0.00         $0.00
     273                  $0.00                  $0.00                      $0.00         $0.00
     274                  $0.00                  $0.00                      $0.00         $0.00
     275                  $0.00                  $0.00                      $0.00         $0.00
     276                  $0.00                  $0.00                      $0.00         $0.00   23
     277                  $0.00                  $0.00                      $0.00         $0.00
     278                  $0.00                  $0.00                      $0.00         $0.00
     279                  $0.00                  $0.00                      $0.00         $0.00
     280                  $0.00                  $0.00                      $0.00         $0.00
     281                  $0.00                  $0.00                      $0.00         $0.00
     282                  $0.00                  $0.00                      $0.00         $0.00
     283                  $0.00                  $0.00                      $0.00         $0.00
     284                  $0.00                  $0.00                      $0.00         $0.00
     285                  $0.00                  $0.00                      $0.00         $0.00
     286                  $0.00                  $0.00                      $0.00         $0.00
     287                  $0.00                  $0.00                      $0.00         $0.00
     288                  $0.00                  $0.00                      $0.00         $0.00   24




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                  page 63 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal         Balance       Year
     289                  $0.00                  $0.00                      $0.00         $0.00
     290                  $0.00                  $0.00                      $0.00         $0.00
     291                  $0.00                  $0.00                      $0.00         $0.00
     292                  $0.00                  $0.00                      $0.00         $0.00
     293                  $0.00                  $0.00                      $0.00         $0.00
     294                  $0.00                  $0.00                      $0.00         $0.00
     295                  $0.00                  $0.00                      $0.00         $0.00
     296                  $0.00                  $0.00                      $0.00         $0.00
     297                  $0.00                  $0.00                      $0.00         $0.00
     298                  $0.00                  $0.00                      $0.00         $0.00
     299                  $0.00                  $0.00                      $0.00         $0.00
     300                  $0.00                  $0.00                      $0.00         $0.00   25
     301                  $0.00                  $0.00                      $0.00         $0.00
     302                  $0.00                  $0.00                      $0.00         $0.00
     303                  $0.00                  $0.00                      $0.00         $0.00
     304                  $0.00                  $0.00                      $0.00         $0.00
     305                  $0.00                  $0.00                      $0.00         $0.00
     306                  $0.00                  $0.00                      $0.00         $0.00
     307                  $0.00                  $0.00                      $0.00         $0.00
     308                  $0.00                  $0.00                      $0.00         $0.00
     309                  $0.00                  $0.00                      $0.00         $0.00
     310                  $0.00                  $0.00                      $0.00         $0.00
     311                  $0.00                  $0.00                      $0.00         $0.00
     312                  $0.00                  $0.00                      $0.00         $0.00   26
     313                  $0.00                  $0.00                      $0.00         $0.00
     314                  $0.00                  $0.00                      $0.00         $0.00
     315                  $0.00                  $0.00                      $0.00         $0.00
     316                  $0.00                  $0.00                      $0.00         $0.00
     317                  $0.00                  $0.00                      $0.00         $0.00
     318                  $0.00                  $0.00                      $0.00         $0.00
     319                  $0.00                  $0.00                      $0.00         $0.00
     320                  $0.00                  $0.00                      $0.00         $0.00
     321                  $0.00                  $0.00                      $0.00         $0.00
     322                  $0.00                  $0.00                      $0.00         $0.00
     323                  $0.00                  $0.00                      $0.00         $0.00
     324                  $0.00                  $0.00                      $0.00         $0.00   27
     325                  $0.00                  $0.00                      $0.00         $0.00
     326                  $0.00                  $0.00                      $0.00         $0.00
     327                  $0.00                  $0.00                      $0.00         $0.00
     328                  $0.00                  $0.00                      $0.00         $0.00
     329                  $0.00                  $0.00                      $0.00         $0.00
     330                  $0.00                  $0.00                      $0.00         $0.00
     331                  $0.00                  $0.00                      $0.00         $0.00
     332                  $0.00                  $0.00                      $0.00         $0.00
     333                  $0.00                  $0.00                      $0.00         $0.00
     334                  $0.00                  $0.00                      $0.00         $0.00
     335                  $0.00                  $0.00                      $0.00         $0.00
     336                  $0.00                  $0.00                      $0.00         $0.00   28




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                  page 64 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal         Balance       Year
     337                  $0.00                  $0.00                      $0.00         $0.00
     338                  $0.00                  $0.00                      $0.00         $0.00
     339                  $0.00                  $0.00                      $0.00         $0.00
     340                  $0.00                  $0.00                      $0.00         $0.00
     341                  $0.00                  $0.00                      $0.00         $0.00
     342                  $0.00                  $0.00                      $0.00         $0.00
     343                  $0.00                  $0.00                      $0.00         $0.00
     344                  $0.00                  $0.00                      $0.00         $0.00
     345                  $0.00                  $0.00                      $0.00         $0.00
     346                  $0.00                  $0.00                      $0.00         $0.00
     347                  $0.00                  $0.00                      $0.00         $0.00
     348                  $0.00                  $0.00                      $0.00         $0.00   29
     349                  $0.00                  $0.00                      $0.00         $0.00
     350                  $0.00                  $0.00                      $0.00         $0.00
     351                  $0.00                  $0.00                      $0.00         $0.00
     352                  $0.00                  $0.00                      $0.00         $0.00
     353                  $0.00                  $0.00                      $0.00         $0.00
     354                  $0.00                  $0.00                      $0.00         $0.00
     355                  $0.00                  $0.00                      $0.00         $0.00
     356                  $0.00                  $0.00                      $0.00         $0.00
     357                  $0.00                  $0.00                      $0.00         $0.00
     358                  $0.00                  $0.00                      $0.00         $0.00
     359                  $0.00                  $0.00                      $0.00         $0.00
     360                  $0.00                  $0.00                      $0.00         $0.00   30
     361                  $0.00                  $0.00                      $0.00         $0.00
     362                  $0.00                  $0.00                      $0.00         $0.00
     363                  $0.00                  $0.00                      $0.00         $0.00
     364                  $0.00                  $0.00                      $0.00         $0.00
     365                  $0.00                  $0.00                      $0.00         $0.00
     366                  $0.00                  $0.00                      $0.00         $0.00
     367                  $0.00                  $0.00                      $0.00         $0.00
     368                  $0.00                  $0.00                      $0.00         $0.00
     369                  $0.00                  $0.00                      $0.00         $0.00
     370                  $0.00                  $0.00                      $0.00         $0.00
     371                  $0.00                  $0.00                      $0.00         $0.00
     372                  $0.00                  $0.00                      $0.00         $0.00   31
     373                  $0.00                  $0.00                      $0.00         $0.00
     374                  $0.00                  $0.00                      $0.00         $0.00
     375                  $0.00                  $0.00                      $0.00         $0.00
     376                  $0.00                  $0.00                      $0.00         $0.00
     377                  $0.00                  $0.00                      $0.00         $0.00
     378                  $0.00                  $0.00                      $0.00         $0.00
     379                  $0.00                  $0.00                      $0.00         $0.00
     380                  $0.00                  $0.00                      $0.00         $0.00
     381                  $0.00                  $0.00                      $0.00         $0.00
     382                  $0.00                  $0.00                      $0.00         $0.00
     383                  $0.00                  $0.00                      $0.00         $0.00
     384                  $0.00                  $0.00                      $0.00         $0.00   32




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                  page 65 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal         Balance       Year
     385                  $0.00                  $0.00                      $0.00         $0.00
     386                  $0.00                  $0.00                      $0.00         $0.00
     387                  $0.00                  $0.00                      $0.00         $0.00
     388                  $0.00                  $0.00                      $0.00         $0.00
     389                  $0.00                  $0.00                      $0.00         $0.00
     390                  $0.00                  $0.00                      $0.00         $0.00
     391                  $0.00                  $0.00                      $0.00         $0.00
     392                  $0.00                  $0.00                      $0.00         $0.00
     393                  $0.00                  $0.00                      $0.00         $0.00
     394                  $0.00                  $0.00                      $0.00         $0.00
     395                  $0.00                  $0.00                      $0.00         $0.00
     396                  $0.00                  $0.00                      $0.00         $0.00   33
     397                  $0.00                  $0.00                      $0.00         $0.00
     398                  $0.00                  $0.00                      $0.00         $0.00
     399                  $0.00                  $0.00                      $0.00         $0.00
     400                  $0.00                  $0.00                      $0.00         $0.00
     401                  $0.00                  $0.00                      $0.00         $0.00
     402                  $0.00                  $0.00                      $0.00         $0.00
     403                  $0.00                  $0.00                      $0.00         $0.00
     404                  $0.00                  $0.00                      $0.00         $0.00
     405                  $0.00                  $0.00                      $0.00         $0.00
     406                  $0.00                  $0.00                      $0.00         $0.00
     407                  $0.00                  $0.00                      $0.00         $0.00
     408                  $0.00                  $0.00                      $0.00         $0.00   34
     409                  $0.00                  $0.00                      $0.00         $0.00
     410                  $0.00                  $0.00                      $0.00         $0.00
     411                  $0.00                  $0.00                      $0.00         $0.00
     412                  $0.00                  $0.00                      $0.00         $0.00
     413                  $0.00                  $0.00                      $0.00         $0.00
     414                  $0.00                  $0.00                      $0.00         $0.00
     415                  $0.00                  $0.00                      $0.00         $0.00
     416                  $0.00                  $0.00                      $0.00         $0.00
     417                  $0.00                  $0.00                      $0.00         $0.00
     418                  $0.00                  $0.00                      $0.00         $0.00
     419                  $0.00                  $0.00                      $0.00         $0.00
     420                  $0.00                  $0.00                      $0.00         $0.00   35
     421                  $0.00                  $0.00                      $0.00         $0.00
     422                  $0.00                  $0.00                      $0.00         $0.00
     423                  $0.00                  $0.00                      $0.00         $0.00
     424                  $0.00                  $0.00                      $0.00         $0.00
     425                  $0.00                  $0.00                      $0.00         $0.00
     426                  $0.00                  $0.00                      $0.00         $0.00
     427                  $0.00                  $0.00                      $0.00         $0.00
     428                  $0.00                  $0.00                      $0.00         $0.00
     429                  $0.00                  $0.00                      $0.00         $0.00
     430                  $0.00                  $0.00                      $0.00         $0.00
     431                  $0.00                  $0.00                      $0.00         $0.00
     432                  $0.00                  $0.00                      $0.00         $0.00   36




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                  page 66 of 124
                                  2011 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                               2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                               III. Amortization Schedule
 Month        P&I Payment                 Interest                Principal         Balance       Year
     433                  $0.00                  $0.00                      $0.00         $0.00
     434                  $0.00                  $0.00                      $0.00         $0.00
     435                  $0.00                  $0.00                      $0.00         $0.00
     436                  $0.00                  $0.00                      $0.00         $0.00
     437                  $0.00                  $0.00                      $0.00         $0.00
     438                  $0.00                  $0.00                      $0.00         $0.00
     439                  $0.00                  $0.00                      $0.00         $0.00
     440                  $0.00                  $0.00                      $0.00         $0.00
     441                  $0.00                  $0.00                      $0.00         $0.00
     442                  $0.00                  $0.00                      $0.00         $0.00
     443                  $0.00                  $0.00                      $0.00         $0.00
     444                  $0.00                  $0.00                      $0.00         $0.00   37
     445                  $0.00                  $0.00                      $0.00         $0.00
     446                  $0.00                  $0.00                      $0.00         $0.00
     447                  $0.00                  $0.00                      $0.00         $0.00
     448                  $0.00                  $0.00                      $0.00         $0.00
     449                  $0.00                  $0.00                      $0.00         $0.00
     450                  $0.00                  $0.00                      $0.00         $0.00
     451                  $0.00                  $0.00                      $0.00         $0.00
     452                  $0.00                  $0.00                      $0.00         $0.00
     453                  $0.00                  $0.00                      $0.00         $0.00
     454                  $0.00                  $0.00                      $0.00         $0.00
     455                  $0.00                  $0.00                      $0.00         $0.00
     456                  $0.00                  $0.00                      $0.00         $0.00   38
     457                  $0.00                  $0.00                      $0.00         $0.00
     458                  $0.00                  $0.00                      $0.00         $0.00
     459                  $0.00                  $0.00                      $0.00         $0.00
     460                  $0.00                  $0.00                      $0.00         $0.00
     461                  $0.00                  $0.00                      $0.00         $0.00
     462                  $0.00                  $0.00                      $0.00         $0.00
     463                  $0.00                  $0.00                      $0.00         $0.00
     464                  $0.00                  $0.00                      $0.00         $0.00
     465                  $0.00                  $0.00                      $0.00         $0.00
     466                  $0.00                  $0.00                      $0.00         $0.00
     467                  $0.00                  $0.00                      $0.00         $0.00
     468                  $0.00                  $0.00                      $0.00         $0.00   39
     469                  $0.00                  $0.00                      $0.00         $0.00
     470                  $0.00                  $0.00                      $0.00         $0.00
     471                  $0.00                  $0.00                      $0.00         $0.00
     472                  $0.00                  $0.00                      $0.00         $0.00
     473                  $0.00                  $0.00                      $0.00         $0.00
     474                  $0.00                  $0.00                      $0.00         $0.00
     475                  $0.00                  $0.00                      $0.00         $0.00
     476                  $0.00                  $0.00                      $0.00         $0.00
     477                  $0.00                  $0.00                      $0.00         $0.00
     478                  $0.00                  $0.00                      $0.00         $0.00
     479                  $0.00                  $0.00                      $0.00         $0.00
     480                  $0.00                  $0.00                      $0.00         $0.00   40




Georgia Department of Community Affairs              Part III C-HUD Insured Loan                  page 67 of 124
      Georgia Department of Community Affairs                                      2011 Funding Application                                      Office of Affordable Housing
                                         PART FOUR - USES OF FUNDS - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                                                      8,000                  8,000
  Market Study                                                                            5,150                  5,150
  Environmental Report(s)                                                                 8,000                  8,000
  Soil Borings                                                                            6,000                  6,000
  Boundary and Topographical Survey                                                      13,500                 13,500
  Zoning/Site Plan Fees                                                                     500                    500
  Other: <Enter detailed description here; use Comments section if needed>
  Other: <Enter detailed description here; use Comments section if needed>
  Other: <Enter detailed description here; use Comments section if needed>
                                                                        Subtotal         41,150                 41,150             -                 -                 -
  ACQUISITION                                                                                                                     ACQUISITION
  Land                                                                                  347,600                                                                    347,600
  Site Demolition
  Acquisition Legal Fees (if existing structures)
  Existing Structures
                                                                        Subtotal        347,600                                   -                                347,600
  LAND IMPROVEMENTS                                                                                                          LAND IMPROVEMENTS
  Site Construction (On-site)                                                           750,000                750,000
  Site Construction (Off-site)
                                                                        Subtotal        750,000                750,000             -                 -                 -
  STRUCTURES                                                                                                                      STRUCTURES
  Residential Structures - New Construction                                            3,779,619              3,779,619
  Residential Structures - Rehab
  Accessory Structures (ie. community building, maintenance building, etc.)               20,381                 20,381
                                                                        Subtotal       3,800,000              3,800,000          -              -                      -
  CONTRACTOR SERVICES                                   14.00%                                                              CONTRACTOR SERVICES
  Builder Profit:                                        6.00%           273,000        273,000                273,000
  General Requirements* and Builder Overhead             8.00%           364,000        364,000                364,000
  *Refer to General Requirements policy in QAP                          Subtotal        637,000                637,000             -                 -                 -
  Total Construction Hard Costs             92,625.00             per unit
  5,187,000.00                                  89.31             per sq ft
  CONSTRUCTION CONTINGENCY                                                                                                CONSTRUCTION CONTINGENCY
  Construction Contingency                                           5.0029%            259,500                259,500




      96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                            Part IV-Uses of Funds                                                            68 of 124
      Georgia Department of Community Affairs                                    2011 Funding Application                                    Office of Affordable Housing
                                         PART FOUR - USES OF FUNDS - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                                                 1,250                 1,250
  Construction Loan Interest                                                           15,000                15,000
  Construction Legal Fees                                                              15,000                15,000
  Construction Period Real Estate Tax                                                  15,000                15,000
  Construction Insurance                                                               20,000                20,000
  Bridge Loan Fee and Bridge Loan Interest                                             93,284                93,284
  Payment and Performance bonds
  Other: construction lender inspection fees                                            3,400                 3,400
                                                                     Subtotal         162,934               162,934            -               -                   -
  PROFESSIONAL SERVICES                                                                                                  PROFESSIONAL SERVICES
  Architectural Fee - Design                                                          168,000               168,000
  Architectural Fee - Supervision                                                      42,000                42,000
  Green Building Consultant Fee
  Green Building Program Certification Fee (LEED or Earthcraft)                        37,828                37,828
  Accessibility Inspections and Plan Review                                             6,500                 6,500
  Construction Materials Testing                                                        5,000                 5,000
  Engineering                                                                          30,000                30,000
  Real Estate Attorney                                                                 75,000                75,000
  Accounting                                                                           20,000                20,000
  Other: <Enter detailed description here; use Comments section if needed>
                                                                      Subtotal        384,328               384,328             -              -                   -
  LOCAL GOVERNMENT FEES                                                                                                  LOCAL GOVERNMENT FEES
  Building Permits                                                                     10,000                10,000
  Impact Fees
  Water Tap Fees                              waived?     No                           85,500                85,500
  Sewer Tap Fees                              waived?     No                           85,500                85,500
                                                                      Subtotal        181,000               181,000            -               -                   -
  PERMANENT FINANCING FEES                                                                                              PERMANENT FINANCING FEES
  Permanent Loan Fees
  Permanent Loan Legal Fees                                                             5,000                                                                    5,000
  Title and Recording Fees                                                             15,000                15,000
  As-Built Survey                                                                       6,000                 6,000
  Bond Issuance Premium
  Cost of Issuance / Underwriter's Discount
  Other: <Enter detailed description here; use Comments section if needed>
                                                                      Subtotal         26,000                21,000              -               -               5,000
      96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                          Part IV-Uses of Funds                                                          69 of 124
Georgia Department of Community Affairs                           2011 Funding Application                                Office of Affordable Housing
                               PART FOUR - USES OF FUNDS - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                          CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS




96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                   Part IV-Uses of Funds                                                   70 of 124
      Georgia Department of Community Affairs                                     2011 Funding Application                                      Office of Affordable Housing
                                        PART FOUR - USES OF FUNDS - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                                      1,000                                                                      1,000
  Tax Credit Application Fee                                                             4,000                                                                      4,000
  DCA Waiver Fees                                                                        1,500                                                                      1,500
  LIHTC Allocation Processing Fee                                        43,924         43,924                                                                     43,924
  LIHTC Compliance Monitoring Fee                                        39,200         39,200                                                                     39,200
  DCA Front End Analysis Fee (HOME, when ID of Interest)                                 2,700                                                                      2,700
  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         92,324                                                                     92,324
  EQUITY COSTS                                                                                                                  EQUITY COSTS
  Partnership Organization Fees                                                          1,500                                                                      1,500
  Tax Credit Legal Opinion                                                               2,000                                                                      2,000
  Syndicator Legal Fees                                                                 50,000                                                                     50,000
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal         53,500                                                                     53,500
  DEVELOPER'S FEE                                                                                                             DEVELOPER'S FEE
  Developer's Overhead                                               20.000%           190,760                190,760
  Consultant's Fee                                                   0.000%
  Developer's Profit                                                 80.000%           763,038                763,038
                                                                       Subtotal        953,798                953,798            -              -                     -
  START-UP AND RESERVES                                                                                                   START-UP AND RESERVES
  Marketing                                                                             27,669                                                                     27,669
  Rent-Up Reserves                                                                      42,750                                                                     42,750
  Operating Deficit Reserve:                                                           111,000                                                                    111,000
  Replacement Reserve
  Furniture, Fixtures and Equipment                  Per Unit: 111616.071%              62,505                 62,505
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal        243,924                 62,505            -                  -             181,419
  OTHER COSTS                                                                                                                   OTHER COSTS
  Relocation
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal             -                      -              -                 -                 -
  TOTAL DEVELOPMENT COST                                                              7,933,058              7,253,215            -                 -             679,843
  Total Per Unit Cost Limitation:            8,186,472           TDC Per Unit:       141,661.75   TDC Per Sq Ft:                136.59



      96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                           Part IV-Uses of Funds                                                            71 of 124
        Georgia Department of Community Affairs                                     2011 Funding Application                                               Office of Affordable Housing
                                           PART FOUR - USES OF FUNDS - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                        CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
II. TAX CREDIT CALCULATION - BASIS METHOD                                                                 New
                                                                                                                        4% Acquisition          Rehabilitation
                                                                                                       Construction
                                                                                                                            Basis                  Basis
   Subtractions From Eligible Basis                                                                       Basis

   Amount of federal grant(s) used to finance qualifying development costs
   Amount of nonqualified nonrecourse financing
   Costs of Nonqualifying units of higher quality
   Nonqualifying excess portion of higher quality units
   Historic Tax Credits (Residential Portion Only)
   Other <Enter detailed description here; use Comments section if needed>
   Total Subtractions From Basis:                                                                               0                                      0
   Eligible Basis Calculation
   Total Basis                                                                                           7,253,215             0                       0
   Less Total Subtractions From Basis (see above)                                                            0                                         0
   Total Eligible Basis                                                                                  7,253,215             0                       0
   Eligible Basis Adjustment (DDA/QCT Location or State Designated Boost)           Type: <<Select>>      100.00%
   Adjusted Eligible Basis                                                                               7,253,215             0                      0
   Multiply Adjusted Eligible Basis by Applicable Fraction                                                100.00%           100.00%                100.00%
   Qualified Basis                                                                                       7,253,215             0                      0
   Multiply Qualified Basis by Applicable Credit Percentage                                                9.00%
   Maximum Tax Credit Amount                                                                              652,789              0                       0
   Total Basis Method Tax Credit Calculation                                                                                652,789

III. TAX CREDIT CALCULATION - GAP METHOD                                                                 Maximum TDC                                                  If Historic Designation
                                                                                                                                                                           or Brownfield
     Equity Gap Calculation                                                                                7,933,058   If TDC > PUCL, provide amount of grant from
                                                                                                                                                                   Development involved,
     Total Development Cost (TDC or PUCL; explain in Comments if TDC > PUCL)                              7,933,058    foundation or charitable org to cover the      indicate below:
                                                                                                                       cost exceeding the PUCL:
     Subtract Non-LIHTC (excluding deferred fee) Source of Funds                                          1,470,000                                                                   Y/N
     Equity Gap                                                                                           6,463,058        Grant Amt         Foundtn / Charitble Org Hist Desig
     Divide Equity Gap by 10                                                                                 / 10                                                    Brownfld
     Annual Equity Required                                                                                646,306                 Federal                   State
     Enter Final Federal and State Equity Factors (not including GP contribution)                          1.0300         =        0.7800         +         0.2500
     Total Gap Method Tax Credit Calculation                                                               627,481

   TAX CREDIT PROJECT MAXIMUM - Lower of Basis Method, Gap Method and DCA Limit:                           627,481

   TAX CREDIT REQUEST - Cannot exceed Tax Credit Project Maximum, but may be lower:                        627,481

IV. TAX CREDIT ALLOCATION - Lower of Tax Credit Request and Tax Credit Project Maximum                     627,481


        96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                            Part IV-Uses of Funds                                                                            72 of 124
          Georgia Department of Community Affairs                                                 2011 Funding Application                                        Office of Affordable Housing
                                                 PART FOUR - USES OF FUNDS - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                            VI.   DCA COMMENTS - DCA USE ONLY
We have requested a payment and performance bond waiver from DCA therefore we have not budgeted a fee for this. DCA has
approved this waiver in the past for this development team. We did not budget a Letter of Credit fee because we can get a letter
of credit with no fee.




Construction Loan Interest and bridge loan interest are estimated at approximately one year's interest. The construction loan fee
and bridge loan fee are each .5% of loan. Water and sewer tap fees are $1500 per unit each x 59 units. Back up documentation
is included in Tab 8.




Land value justification is included in Tab 8.

Construction cost justifcation included in Tab 8.
Equity Pricing increased between HOME loan pre-application and application therefore tax credit request is less.




          96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                          Part IV-Uses of Funds                                                          73 of 124
Georgia Department of Community Affairs                             2011 Funding Application                                             Office of Affordable Housing



                       PART FIVE - UTILITY ALLOWANCES - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

                                                          DCA Utility Region for project:          South

    I. UTILITY ALLOWANCE SCHEDULE #1                      Source of Utility Allowances             GA DCA - OAH
                                                          Date of Utility Allowances               June 1, 2011              Structure 2-Story
                                                            Paid By (check one)                    Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
       Utility              Fuel                             Tenant     Owner                         0           1           2          3          4
       Heat                 Electric Heat Pump                 X                                                  2           2
       Air Conditioning     Electric                           X                                                 38          48
       Cooking              Electric                           X                                                  9          12
       Hot Water            Electric                           X                                                 28          36
       Lights               Electric                           X                                                 26          33
       Water & Sewer        Submetered?      Yes               X                                                 39          49
       Refuse Collection                                                  X
       Total Utility Allowance by Unit Size                                                            0           142          180            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


       DCA COMMENTS




96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                   Part V-Utility Allowances                                                        page 74 of 124
                                        Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        2011 Funding Application                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       Of f ice of Af f ordable Housing




                                        PART SIX - PROJECTED REVENUES & EXPENSES - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

                                                                                                                                                                Valdosta
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:               Floating                                                                                                                AMI
                                                                                               PBRA Provider                                                                       46,400                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           Efficiency                                           Efficiency                                           Efficiency
     Are 100% of units HUD PBRA?                              No                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Efficiency     1 BR       2 BR       3 BR       4 BR     Efficiency     1 BR       2 BR       3 BR       4 BR     Efficiency     1 BR       2 BR       3 BR        4 BR
                                                                                                                                                                                                                                                                                                                                                                                                                                                  Efficiency   1 BR    2 BR    3 BR    4 BR    Efficiency   1 BR    2 BR    3 BR    4 BR    Efficiency   1 BR    2 BR    3 BR    4 BR       PHA         PHA        PHA        PHA        PHA         PHA         PHA        PHA        PHA        PHA         PHA         PHA        PHA        PHA         PHA        Efficiency    1 BR     2 BR     3 BR                                                                                                                                                                                                                                                                                                                                                                            New       1 BR New 2 BR New 3 BR New 4 BR New        New       1 BR New 2 BR New 3 BR New 4 BR New        New       1 BR New 2 BR New 3 BR New 4 BR New       Efficiency                                                                                                            Efficiency
                                                                                                or Operating
                                                                                                                  Monthly Net Rent                                                  Affordable to:                              Efficiency                                         Efficiency                                         Efficiency                                                                                                    PBRA       PBRA    PBRA    PBRA    PBRA      PBRA       PBRA    PBRA    PBRA    PBRA      PBRA       PBRA    PBRA    PBRA    PBRA    Oper Sub     Oper Sub   Oper Sub   Oper Sub   Oper Sub   Oper Sub     Oper Sub   Oper Sub   Oper Sub   Oper Sub   Oper Sub     Oper Sub   Oper Sub   Oper Sub    Oper Sub     Common       Common   Common   Common                                                                                                                                                                                                                                                                                                               Efficiency     1 BR       2 BR       3 BR       4 BR     Construct    Construct Construct Construct Construct Construct    Construct Construct Construct Construct Construct    Construct Construct Construct Construct        LI        1 BR       2 BR       3 BR       4 BR     Efficiency    1 BR         2 BR       3 BR        4 BR           CS        1 BR       2 BR       3 BR       4 BR         Efficiency    1 BR       2 BR       3 BR
         Rent        Nbr of No. of Unit          Unit     Max Gross Proposed           Utility                                         Employee     Building       Type of
                                                                                                 Subsidy ***                                                                                                                       60%       1 BR 60% 2 BR 60% 3 BR 60% 4 BR 60%      50%       1 BR 50% 2 BR 50% 3 BR 50% 4 BR 50%      30%       1 BR 30% 2 BR 30% 3 BR 30% 4 BR 30%   Efficiency   1 BR Mkt   2 BR Mkt   3 BR Mkt   4 BR Mkt      30%        30%     30%     30%     30%       50%        50%     50%     50%     50%       60%        60%     60%     60%     60%       30%         30%        30%        30%        30%         50%         50%        50%        50%        50%         60%         60%        60%        60%         60%          Space       Space    Space    Space   4 BR Common    Efficiency 60%                                                           Efficiency   1 BR 50% 2 BR 50% 3 BR 50% 4 BR 50%   Efficiency   1 BR 30% 2 BR 30% 3 BR 30% 4 BR 30%   Efficiency   1 BR Mkt   2 BR Mkt   3 BR Mkt   4 BR Mkt   Efficiency     1 BR      2 BR      3 BR      4 BR    Common       Common     Common     Common     Common       ion LI       ion LI   ion LI    ion LI    ion LI    ion Mkt      ion Mkt   ion Mkt   ion Mkt   ion Mkt   ion CS        ion CS   ion CS    ion CS    ion CS     Acq/Rhb      Acq/Rhb    Acq/Rhb    Acq/Rhb    Acq/Rhb    Acq/Rhb      Acq/Rhb     Acq/Rhb     Acq/Rhb     Acq/Rhb     Acq/Rhb      Acq/Rhb    Acq/Rhb    Acq/Rhb    Acq/Rhb       Rehab LI     Rehab LI   Rehab LI   Rehab LI
         Type        Bdrms Baths Count           Area     Rent Limit Gross Rent      Allowance (See note below) Per Unit      Total      Unit         Type         Activity        Income     % of AMI   Underwriter Comments     Units        Units    Units    Units    Units      Units        Units    Units    Units    Units      Units        Units    Units    Units    Units    Mkt Units      Units      Units      Units      Units      Units      Units   Units   Units   Units     Units      Units   Units   Units   Units     Units      Units   Units   Units   Units     Units       Units      Units      Units      Units       Units       Units      Units      Units      Units       Units       Units      Units      Units       Units         Units       Units    Units    Units    Space Units          SF        1 BR 60% SF   2 BR 60% SF   3 BR 60% SF   4 BR 60% SF    50% SF         SF       SF       SF       SF       30% SF         SF       SF       SF       SF       Mkt SF         SF         SF         SF         SF      PBRA SF      PBRA SF   PBRA SF   PBRA SF   PBRA SF   Space SF     Space SF   Space SF   Space SF   Space SF     Units        Units    Units     Units     Units      Units        Units     Units     Units     Units     Units         Units    Units     Units     Units       Units      LI Units   LI Units   LI Units   LI Units   Mkt Units    Mkt Units   Mkt Units   Mkt Units   Mkt Units     Units      CS Units   CS Units   CS Units   CS Units        Units       Units      Units      Units
        50% AMI        1     1.0     4            830        453        442              142                        300        1,200      No         2-Story    New Construction    17,680     50.80%
                                                                                                                                                                                                                                                                                                        4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               3320                                                                                                                                                                                                                                                                              4
        50% AMI        2     1.5     8           1,120       543        540              180                        360        2,880      No         2-Story    New Construction    21,600     51.72%
                                                                                                                                                                                                                                                                                                                 8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               8960                                                                                                                                                                                                                                                                              8
        60% AMI        1     1.0    12            830        527        502              142                        360        4,320      No         2-Story    New Construction    20,080     57.70%
                                                                                                                                                                                                                                                  12                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  9960                                                                                                                                                                                                                                                                                                                                              12
        60% AMI        2     2.0    32           1,120       634        600              180                        420       13,440      No         2-Story    New Construction    24,000     57.47%
                                                                                                                                                                                                                                                           32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      35840                                                                                                                                                                                                                                                                                                                                         32
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                                                                                                                    -            -
                           TOTAL       56       58,080                                               MONTHLY TOTAL            21,840
                                                                                                                                                                                                                                                12       32                                        4         8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     9,960        35,840                                                3,320    8,960                                                                                                                                                                                                                                                                16         40
                                                                                                      ANNUAL TOTAL           262,080

*** 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.




                                        96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              Part VI-Revenues & Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               75 of 124
                                             Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                         2011 Funding Application       Of f ice of Af f ordable Housing




                                             PART SIX - PROJECTED REVENUES & EXPENSES - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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              -              12         32   -       -                44   (Includes manager units that are                           Low-Income                                   60% AMI           -           12         32   -     -           44   (Include mgr units that are income restricted)
                                                               50% AMI              -               4          8   -       -                12   income restricted)                                                                                      50% AMI           -            4          8   -     -           12
                                                               T otal               -              16         40   -       -                56                                                                                                           T otal            -           16         40   -     -           56
NOTE TO             Unrestricted                                                    -          -          -        -       -            -                                                                   Unrestricted                                                   -       -          -        -     -       -
APPLICANTS: If      Total Residential                                               -              16         40   -       -                56                                                              Total Residential                                              -           16         40   -     -           56
the numbers         Common Space                                                    -          -          -        -       -            -        (no rent to be charged)                                    Common Space                                                   -       -          -        -     -       -        (no rent may be charged)
compiled in this    Total                                                           -              16         40   -       -                56                                                              Total                                                          -           16         40   -     -           56
Summary do not
appear to match     PBRA-Assisted                              60% AMI              -          -          -        -       -            -                                                                   PBRA-Assisted                                60% AMI           -       -          -        -     -       -
what was entered
                    (included in LI above)                     50% AMI              -          -          -        -       -            -                                                                   (included in LI above)                       50% AMI           -       -          -        -     -       -
in the Rent Chart
                                                               T otal               -          -          -        -       -            -                                                                                                                T otal            -       -          -        -     -       -
above, please
verify that all
applicable          PHA Operating Subsidy-Assisted             60% AMI              -          -          -        -       -            -                                                                   PHA Operating Subsidy-Assisted               60% AMI           -       -          -        -     -       -
columns were        (included in LI above)                     50% AMI              -          -          -        -       -            -                                                                   (included in LI above)                       50% AMI           -       -          -        -     -       -
completed in the                                               T otal               -          -          -        -       -            -                                                                                                                T otal            -       -          -        -     -       -
rows used in the    Type of Construction Activity                                                                                                                                                           Construction:
Rent Chart                              New Construction       Low Inc              -              16         40   -       -                56                                                                                       New Construction    Low Inc           -           16         40   -     -           56
above.                                                         Unrestricted         -          -          -        -       -            -                                                                                                                Mkt Rate          -       -          -        -     -       -
                                                               T otal + CS          -              16         40   -       -                56                                                                                                           T otal + CS       -           16         40   -     -           56
                                        Acq/Rehab              Low Inc              -          -          -        -       -            -                                                                                            Acq/Rehab           Low Inc           -       -          -        -     -       -
                                                               Unrestricted         -          -          -        -       -            -                                                                                                                Mkt Rate          -       -          -        -     -       -
                                                               T otal + CS          -          -          -        -       -            -                                                                                                                T otal + CS       -       -          -        -     -       -
                                        Substantial Rehab      Low Inc              -          -          -        -       -            -                                                                                            Rehab Only          Low Inc           -       -          -        -     -       -
                                        Only                   Unrestricted         -          -          -        -       -            -                                                                                                                Mkt Rate          -       -          -        -     -       -
                                                               T otal + CS          -          -          -        -       -            -                                                                                                                T otal + CS       -       -          -        -     -       -
                                        Adaptive Reuse                                                                                  -
                                        Historic Rehab                                                                                  -
                    Building Type:                                                                                                                                                                          Building Type:
                                        Multifamily                                 -              16         40   -       -                56                                                                                       Multifamily                           -           16         40   -     -           56
                                        SF Detached                                 -          -          -        -       -            -                                                                                            SF Detached                           -       -          -        -     -       -
                                        Townhome                                    -          -          -        -       -            -                                                                                            Townhome                              -       -          -        -     -       -
                                        Duplex                                      -          -          -        -       -            -                                                                                            Duplex                                -       -          -        -     -       -
                                                                                    -          -          -        -       -            -                                                                                                                                  -       -          -        -     -       -
                                        Manufactured home                                                                                                                                                                            Manufactured home

   Unit Square Footage:                                                                                                                                                                   Square Footage:
                  Low Income                                   60% AMI              -        9,960      35,840     -       -         45,800                                                                 Low Income                                   60% AMI           -      9,960     35,840     -     -     45,800
                                                               50% AMI              -        3,320       8,960     -       -         12,280                                                                                                              50% AMI           -      3,320      8,960     -     -     12,280
                                                               T otal               -       13,280      44,800     -       -         58,080                                                                                                              T otal            -     13,280     44,800     -     -     58,080
                    Unrestricted                                                    -          -           -       -       -            -                                                                   Unrestricted                                                   -        -          -       -     -        -
                    Total Residential                                               -       13,280      44,800     -       -         58,080                                                                 Total Residential                                              -     13,280     44,800     -     -     58,080
                    Common Space                                                    -          -           -       -       -            -                                                                   Common Space                                                   -        -          -       -     -        -
                    Total                                                           -       13,280      44,800     -       -         58,080                                                                 Total                                                          -     13,280     44,800     -     -     58,080




                                             96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                                                                                                                                                                               Part VI-Revenues & Expenses                           76 of 124
                                             Georgia Department of Community Af f airs                                                                                                                   2011 Funding Application       Of f ice of Af f ordable Housing




                                              PART SIX - PROJECTED REVENUES & EXPENSES - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County


III. ANCILLARY AND OTHER INCOME (annual amounts)

   Ancillary Income                                                             5,242                               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                        -             -            -     -          -               -              -               -                  -                  -




                                             96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                         Part VI-Revenues & Expenses                           77 of 124
                                                Georgia Department of Community Af f airs                                                                                                                 2011 Funding Application       Of f ice of Af f ordable Housing




                                                PART SIX - PROJECTED REVENUES & EXPENSES - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County

IV. ANNUAL OPERATING EXPENSE BUDGET

    On-Site Staff Costs                                                                             On-Site Security                                      Taxes and Insurance
    Management Salaries & Benefits                                      21,000                      Contracted Guard                                      Real Estate Taxes (Gross)*             25,200
                                                                        17,500
    Maintenance Salaries & Benefits                                                                 Electronic Alarm System                               Insurance**                            10,360
    Support Services Salaries & Benefits                                                                              Subtotal                            Other (describe here)
    Other (describe here)
                                                                                                                                                             Subtotal                            35,560
                                                                        38,500
                    Subtotal

    On-Site Office Costs                                                                            Professional Services                                 Management Fee:                        27,810
                                                                          2,000                                                                1,000
    Office Supplies & Postage                                                                       Legal                                                    533.99   per unit per year
                                                                          2,000                                                                6,000
    Telephone                                                                                       Accounting                                                 44.50       per unit per month
                                                                            500                                                                3,500
    Travel                                                                                          Advertising
    Leased Furniture / Equipment                                                                    Other (describe here)                                 (Management Fee is from Pro Forma, Section 1,
    Activities Supplies / Overhead Cost                                   3,000                                       Subtotal                10,500      Operating Assumptions)
    Other (describe here)
                                                                          7,500
                    Subtotal

    Maintenance Expenses                                                                            Utilities         ($/mth/unit)                        TOTAL OPERATING EXPENSES
                                                                          4,500                                                               10,000
    Contracted Repairs                                                                              Electricity          14.88                               3,053   per unit                   170,970
                                                                          4,400
    General Repairs                                                                                 Natural Gas
                                                                          9,200                                                                4,000
    Grounds Maintenance                                                                             Water&Swr            5.95
                                                                          3,300                                                                6,000
    Extermination                                                                                   Trash Collection                                      Replacement Reserve                    14,000
    Maintenance Supplies                                                  4,200                                                                           Enter desired per unit amount:            250
                                                                                                    Other (describe here)
                                                                          3,000                                                               20,000
    Elevator Maintenance                                                                                              Subtotal
                                                                          2,500
    Redecorating
    Other (describe here)
                                                                                                                                                          TOTAL ANNUAL EXPENSES
                                                                        31,100
                    Subtotal                                                                                                                                                                    184,970

V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                             VI.   DCA COMMENTS
Property taxes are calculated by using the 2010 average property tax cost per unit for the property management's portfolio of
properties located in Lowndes County, GA. See attached property tax cost analysis.



Insurance premiums are calculated by using the 2010 average insurance cost per unit (average rate across property manager's
portfolio). See attached insurance cost analysis.




                                                96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                       Part VI-Revenues & Expenses                           78 of 124
Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                                                                                                                                                                     2011 Funding Application                                                                                                                                                                                                                                                                                                                                                                                                           Of f ice of Af f ordable Housing




                                                                                                                                                                                                                                                0 BR       1 BR       2 BR       3 BR       4 BR                                                             0 BR     1 BR     2 BR     3 BR     4 BR      0 BR       1 BR       2 BR       3 BR       4 BR      0 BR      1 BR      2 BR      3 BR        4 BR         0 BR     1 BR      2 BR      3 BR      4 BR      0 BR      1 BR      2 BR      3 BR      4 BR       0 BR       1 BR       2 BR       3 BR       4 BR
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Efficiency
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            New      1 BR New 2 BR New 3 BR New 4 BR New       Efficiency    1 BR       2 BR     3 BR       4 BR    Efficiency    1 BR    2 BR    3 BR    4 BR
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Effic   1 BR    2 BR    3 BR    4 BR                                                  Construct    Construct Construct Construct Construct      NSP       Acq/Rhb   Acq/Rhb   Acq/Rhb   Acq/Rhb    Rehab       Rehab   Rehab   Rehab   Rehab
                                                        4 BR      Efficiency     1 BR        2 BR        3 BR        4 BR      Efficiency    1 BR       2 BR       3 BR       4 BR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               120%     120%    120%    120%    120%      Effic    1 BR     2 BR     3 BR     4 BR     ion NSP      ion NSP  ion NSP   ion NSP   ion NSP       120%        NSP        NSP      NSP        NSP        NSP        NSP     NSP     NSP     NSP
                                                       Rehab LI    Rehab        Rehab       Rehab       Rehab       Rehab       Rehab        Rehab      Rehab      Rehab      Rehab     0 BR MF    1 BR       2 BR       3 BR       4 BR      SF Det'd   SF Det'd   SF Det'd   SF Det'd   SF Det'd    0 BR       1 BR       2 BR       3 BR       4 BR      Duplex   Duplex   Duplex   Duplex   Duplex   Townhom    Townhom    Townhom    Townhom    Townhom    1-Story   1-Story   1-Story   1-Story     1-Story     2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   3+ Story   3+ Story   3+ Story   3+ Story   3+ Story    NSP      NSP     NSP     NSP     NSP     120%      120%     120%     120%     120%       120%         120%     120%      120%      120%      Acq/Rhb       120%      120%      120%      120%       120%       120%    120%    120%    120%
                                                        Units     Mkt Units    Mkt Units   Mkt Units   Mkt Units   Mkt Units   CS Units     CS Units   CS Units   CS Units   CS Units     Units   MF Units   MF Units   MF Units   MF Units    Units      Units      Units      Units      Units     MH Units   MH Units   MH Units   MH Units   MH Units    Units    Units    Units    Units    Units    e Units    e Units    e Units    e Units    e Units    Units     Units     Units     Units       Units       Units     Units     Units     Units     Units     Wlkp      Wlkp      Wlkp      Wlkp      Wlkp      Units      Units      Units      Units      Units     Units    Units   Units   Units   Units   NSP SF    NSP SF   NSP SF   NSP SF   NSP SF      Units        Units    Units     Units     Units       Units       Units     Units     Units     Units      Units      Units   Units   Units   Units
                                                                                                                                                                                                     4                                                                                                                                                                                                                                                                                                                              4
                                                                                                                                                                                                                8                                                                                                                                                                                                                                                                                                                            8
                                                                                                                                                                                                     12                                                                                                                                                                                                                                                                                                                            12
                                                                                                                                                                                                                32                                                                                                                                                                                                                                                                                                                           32




                                                                                                                                                                                                     16         40                                                                                                                                                                                                                                                                                                                 16        40




96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                                                                                                                                                                                                                                                                                                                                            Part VI-Revenues & Expenses                                                                                                                                                                                                                                                                                                                                                                                                                              79 of 124
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011    Part VI-Revenues & Expenses                           80 of 124
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011    Part VI-Revenues & Expenses                           81 of 124
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011    Part VI-Revenues & Expenses                           82 of 124
  Georgia Department of Community Affairs                                           2011 Funding Application                                                              Office of Affordable Housing
                               PART SEVEN - OPERATING PRO FORMA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                5,000          Yr 1 Asset Mgt Fee Percentage of EGI:                       2.01%
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:                       11.19%
Vacancy & Collection Loss 7.00%                                    Expense Growth Rate (3.00%)                                Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                                 27,810
Ancillary Income Limit    2.00%                                    Percent of Effective Gross Income                            No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                     1               2                   3                 4                 5                 6                 7                 8                 9                10
Revenues                          262,080         267,322             272,668           278,121           283,684           289,357           295,145           301,048           307,068           313,210
Ancillary Income                    5,242           5,346               5,453             5,562             5,674             5,787             5,903             6,021             6,141             6,264
Vacancy                           (18,713)        (19,087)            (19,468)          (19,858)          (20,255)          (20,660)          (21,073)          (21,495)          (21,925)          (22,363)
Other Income (OI)                     -               -                   -                 -                 -                 -                 -                 -                 -                 -
OI Not Subject to Mgt Fee             -               -                   -                 -                 -                 -                 -                 -                 -                 -
Expenses less Mgt Fee            (143,160)       (147,455)           (151,878)         (156,435)         (161,128)         (165,962)         (170,941)         (176,069)         (181,351)         (186,791)
Property Mgmt                     (27,810)        (28,644)            (29,504)          (30,389)          (31,300)          (32,239)          (33,207)          (34,203)          (35,229)          (36,286)
Reserves                          (14,000)        (14,420)            (14,853)          (15,298)          (15,757)          (16,230)          (16,717)          (17,218)          (17,735)          (18,267)
NOI                                63,639          63,062              62,418            61,704            60,918            60,054            59,110            58,084            56,971            55,767
                                      -               -                   -                 -                 -                 -                 -                 -                 -                 -
                                      -               -                   -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage A                    (51,000)        (50,650)            (50,100)          (49,560)          (48,645)          (47,900)          (47,100)          (46,300)          (45,500)          (44,700)
D/S Mortgage B                        -               -                   -                 -                 -                 -                 -                 -                 -                 -
D/S Other Source                      -               -                   -                 -                 -                 -                 -                 -                 -                 -
D/S Grant from fdn / charity          -               -                   -                 -                 -                 -                 -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                          (5,000)         (5,000)             (5,000)           (5,000)           (5,000)           (5,000)           (5,000)           (5,000)           (5,000)           (5,000)
DDF                                   (982)            -                   -                 -                 -                 -                 -                 -                 -                 -
Incentive Mgmt                         -               -                   -                 -                 -                 -                 -                 -                 -                 -
Cash Flow                            6,657           7,412               7,318             7,144             7,273             7,154             7,010             6,784             6,471             6,067


DCR First Mortgage                    1.25               1.25             1.25              1.25              1.25              1.25              1.25              1.25              1.25              1.25
DCR Second Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio              1.34            1.33               1.32              1.31              1.29              1.28              1.27              1.26               1.24              1.23
                                      -               -                  -                 -                 -                 -                 -                 -                  -                 -
Mortgage A Balance              1,433,533       1,397,052          1,360,756         1,324,638         1,289,077         1,253,907         1,219,187         1,184,922          1,151,117         1,117,775
Mortgage B Balance
Other Source Balance
Other Source Balance
DDF Balance                                               -                 -                 -                  -                -                 -                 -                 -                 -


  96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                      Part VII-Pro Forma                                                                                      83 of 124
  Georgia Department of Community Affairs                                           2011 Funding Application                                                              Office of Affordable Housing
                               PART SEVEN - OPERATING PRO FORMA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                5,000          Yr 1 Asset Mgt Fee Percentage of EGI:                       2.01%
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:                       11.19%
Vacancy & Collection Loss 7.00%                                    Expense Growth Rate (3.00%)                                Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                                 27,810
Ancillary Income Limit    2.00%                                    Percent of Effective Gross Income                            No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                    11              12                  13                14                15                16                17                18                19                20
Revenues                          319,474         325,864             332,381           339,028           345,809           352,725           359,780           366,975           374,315           381,801
Ancillary Income                    6,389           6,517               6,648             6,781             6,916             7,055             7,196             7,340             7,486             7,636
Vacancy                           (22,810)        (23,267)            (23,732)          (24,207)          (24,691)          (25,185)          (25,688)          (26,202)          (26,726)          (27,261)
Other Income (OI)                     -               -                   -                 -                 -                 -                 -                 -                 -                 -
OI Not Subject to Mgt Fee             -               -                   -                 -                 -                 -                 -                 -                 -                 -
Expenses less Mgt Fee            (192,395)       (198,167)           (204,112)         (210,235)         (216,542)         (223,039)         (229,730)         (236,622)         (243,720)         (251,032)
Property Mgmt                     (37,374)        (38,496)            (39,650)          (40,840)          (42,065)          (43,327)          (44,627)          (45,966)          (47,345)          (48,765)
Reserves                          (18,815)        (19,379)            (19,961)          (20,559)          (21,176)          (21,812)          (22,466)          (23,140)          (23,834)          (24,549)
NOI                                54,469          53,072              51,574            49,968            48,251            46,418            44,464            42,385            40,176            37,830
                                      -               -                   -                 -                 -                 -                 -                 -                 -                 -
                                      -               -                   -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage A                    (43,700)        (42,600)            (41,400)          (40,100)          (38,700)          (37,200)          (35,700)          (34,000)          (32,100)          (30,300)
D/S Mortgage B                        -               -                   -                 -                 -                 -                 -                 -                 -                 -
D/S Other Source                      -               -                   -                 -                 -                 -                 -                 -                 -                 -
D/S Grant from fdn / charity          -               -                   -                 -                 -                 -                 -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                          (5,000)         (5,000)             (5,000)           (5,000)           (5,000)           (5,000)           (5,000)           (5,000)           (5,000)           (5,000)
DDF                                    -               -                   -                 -                 -                 -                 -                 -                 -                 -
Incentive Mgmt                         -               -                   -                 -                 -                 -                 -                 -                 -                 -
Cash Flow                            5,769           5,472               5,174             4,868             4,551             4,218             3,764             3,385             3,076             2,530


DCR First Mortgage                    1.25               1.25             1.25              1.25              1.25              1.25              1.25              1.25              1.25              1.25
DCR Second Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio              1.22            1.21               1.20               1.18              1.17              1.16              1.15              1.14              1.13              1.12
                                      -               -                  -                  -                 -                 -                 -                 -                 -                 -
First Mortgage Balance          1,085,104       1,053,209          1,022,199            992,184           963,273           935,579           909,114           884,091           860,725           838,932
Second Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                            -                  -                 -                 -                  -                -                 -                 -                 -                 -


  96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                      Part VII-Pro Forma                                                                                      84 of 124
  Georgia Department of Community Affairs                                           2011 Funding Application                                                              Office of Affordable Housing
                               PART SEVEN - OPERATING PRO FORMA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                5,000          Yr 1 Asset Mgt Fee Percentage of EGI:                       2.01%
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:                       11.19%
Vacancy & Collection Loss 7.00%                                    Expense Growth Rate (3.00%)                                Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                                 27,810
Ancillary Income Limit    2.00%                                    Percent of Effective Gross Income                            No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                    21              22                  23                24                25                26                27                28                29                30
Revenues                          389,437         397,226             405,170           413,274           421,539           429,970           438,569           447,341           456,288           465,413
Ancillary Income                    7,789           7,945               8,103             8,265             8,431             8,599             8,771             8,947             9,126             9,308
Vacancy                           (27,806)        (28,362)            (28,929)          (29,508)          (30,098)          (30,700)          (31,314)          (31,940)          (32,579)          (33,231)
Other Income (OI)                     -               -                   -                 -                 -                 -                 -                 -                 -                 -
OI Not Subject to Mgt Fee             -               -                   -                 -                 -                 -                 -                 -                 -                 -
Expenses less Mgt Fee            (258,563)       (266,320)           (274,309)         (282,539)         (291,015)         (299,745)         (308,738)         (318,000)         (327,540)         (337,366)
Property Mgmt                     (50,228)        (51,735)            (53,287)          (54,885)          (56,532)          (58,228)          (59,975)          (61,774)          (63,627)          (65,536)
Reserves                          (25,286)        (26,044)            (26,825)          (27,630)          (28,459)          (29,313)          (30,192)          (31,098)          (32,031)          (32,992)
NOI                                35,344          32,710              29,923            26,978            23,866            20,583            17,122            13,476             9,637             5,597
                                      -               -                   -                 -                 -                 -                 -                 -                 -                 -
                                      -               -                   -                 -                 -                 -                 -                 -                 -                 -
D/S Mortgage A                    (51,000)        (51,000)            (51,000)          (51,000)          (51,000)          (51,000)          (51,000)          (51,000)          (51,000)          (51,000)
D/S Mortgage B                        -               -                   -                 -                 -                 -                 -                 -                 -                 -
D/S Other Source                      -               -                   -                 -                 -                 -                 -                 -                 -                 -
D/S Grant from fdn / charity          -               -                   -                 -                 -                 -                 -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                                            -                   -                 -                 -                 -                 -                 -                 -                 -
DDF                                   -               -                   -                 -                 -                 -                 -                 -                 -                 -
Incentive Mgmt                        -               -                   -                 -                 -                 -                 -                 -                 -                 -
Cash Flow                         (15,656)        (18,290)            (21,077)          (24,022)          (27,134)          (30,417)          (33,878)          (37,524)          (41,363)          (45,403)


DCR First Mortgage                    0.69               0.64             0.59              0.53              0.47              0.40              0.34              0.26              0.19              0.11
DCR Second Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio              1.11            1.10                1.08              1.07              1.06              1.05              1.04              1.03              1.02              1.01
                                      -               -                   -                 -                 -                 -                 -                 -                 -                 -
First Mortgage Balance            796,126         752,889             709,218           665,109           620,556           575,556           530,103           484,194           437,824           390,988
Second Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                            -                  -                 -                 -                  -                -                 -                 -                 -                 -


  96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                      Part VII-Pro Forma                                                                                      85 of 124
  Georgia Department of Community Affairs                                         2011 Funding Application                                                           Office of Affordable Housing
                               PART SEVEN - OPERATING PRO FORMA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                5,000          Yr 1 Asset Mgt Fee Percentage of EGI:                       2.01%
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:                       11.19%
Vacancy & Collection Loss 7.00%                                  Expense Growth Rate (3.00%)                                Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                                 27,810
Ancillary Income Limit    2.00%                                  Percent of Effective Gross Income                            No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                   31              32                33                34                35
Revenues                          474,722         484,216           493,900           503,778           513,854
Ancillary Income                    9,494           9,684             9,878            10,076            10,277
Vacancy                           (33,895)        (34,573)          (35,264)          (35,970)          (36,689)
Other Income (OI)
OI Not Subject to Mgt Fee
Expenses less Mgt Fee            (347,487)       (357,912)         (368,649)         (379,708)         (391,100)
Property Mgmt                     (67,502)        (69,527)          (71,613)          (73,761)          (75,974)
Reserves                          (33,982)        (35,001)          (36,051)          (37,133)          (38,247)
NOI                                 1,350          (3,112)           (7,799)          (12,718)          (17,878)
                                      -               -                 -                 -                 -
                                      -               -                 -                 -                 -
D/S Mortgage A                    (51,000)        (51,000)          (51,000)          (51,000)          (51,000)
D/S Mortgage B                        -               -                 -                 -                 -
D/S Other Source                      -               -                 -                 -                 -
D/S Grant from fdn / charity          -               -                 -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                            -               -                 -                 -                 -
DDF                                   -               -                 -                 -                 -
Incentive Mgmt                        -               -                 -                 -                 -
Cash Flow                         (49,650)        (54,112)          (58,799)          (63,718)          (68,878)


DCR First Mortgage                    0.03           (0.06)            (0.15)            (0.25)            (0.35)
DCR Second Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio              1.00            0.99              0.98              0.97              0.96
                                      -               -                 -                 -                 -
First Mortgage Balance            343,681         295,900           247,638           198,891           149,655
Second Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                            -                 -                -                 -                  -


  96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                    Part VII-Pro Forma                                                                                      86 of 124
  Georgia Department of Community Affairs                                    2011 Funding Application                                                           Office of Affordable Housing
                               PART SEVEN - OPERATING PRO FORMA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes 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                                5,000          Yr 1 Asset Mgt Fee Percentage of EGI:                       2.01%
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:                       11.19%
Vacancy & Collection Loss 7.00%                             Expense Growth Rate (3.00%)                                Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                                 27,810
Ancillary Income Limit    2.00%                             Percent of Effective Gross Income                            No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
III. Applicant Comments & Clarifications                                                                       IV. DCA Comments




  96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                               Part VII-Pro Forma                                                                                      87 of 124
           Georgia Department of Community Affairs                                                                              2011 Funding Application              Office of Affordable Housing

                         PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                      Applicant            DCA
                                                                                                                    Response             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
DCA's Comments / Approval Conditions:
1.)

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

5.)

6.)

7.)

8.)

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

12.)

13.)

14.)

15.)

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

19.)

20.)




           96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                   Part VIII-Threshold Criteria                            88 of 124
              Georgia Department of Community Affairs                                                                                                                                            2011 Funding Application                 Office of Affordable Housing

                                PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                                    Applicant                  DCA
                                                                                                                                                                                  Response                   USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
1   Project Feasibility, Viability Analysis, and Conformance with Plan                                                                                                           Pass?

     A. Are any commitments submitted as “Under Consideration” which need final approval before July 29, 2011?                                                                        A)       No
     B. If yes, then state the applicable financial assistance/funding:                                                     << Select >>
    Applicant's comments regarding this section of Threshold:
The project will be financed with proceeds from the sale of the tax credits and a HOME loan. The project meets all of DCA's feasibility requirements as stated in the 2011 QAP.
                                                                                                                                                                                                                        Row size may be
                                                                                                                                                                                                                          increased.
    DCA's Comments:

                                                                                                                                                                                                                        Row size may be
                                                                                                                                                                                                                          increased.



2   Tenancy Characteristics                                                                                                                                                      Pass?

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


3   Required Services                                                                                                                                                            Pass?

     A. Applicants certify that all selected services will meet QAP policies. Does Applicant agree?                                                                                          Agree
     B. Specify below at least 1 basic ongoing service from categories listed in QAP for Family projects, or at least 2 basic ongoing services from categories listed in QAP for Senior projects:
         1) Social and recreational programs planned and overseen by project mgr                                                                                                        1)      Yes
         2) Semi-monthly classes conducted on site                                                                                                                                      2)      Yes
         3) Other service approved by DCA                                                                                  3)
     Applicant's comments regarding this section of Threshold:
Applicant will provide all required services.

    DCA's Comments:




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                                    Part VIII-Threshold Criteria                            89 of 124
               Georgia Department of Community Affairs                                                                                                                                          2011 Funding Application          Office of Affordable Housing

                                 PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                                   Applicant                DCA
                                                                                                                                                                                 Response                 USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
4    Market Feasibility                                                                                                                                                          Pass?

     A.   Provide the name of the market study analyst used by applicant:                                                                      A. Koonz & Salinger
     B.   Project absorption period to reach stabilized occupancy                                                                              B. 9 to 12 months
     C.   Stabilization period                                                                                                                C. up to 3 months
     D.   Overall capture rate for credit units                                                                                               D. 26.4
     E.   List DCA tax credit projects (inside a 2-mile radius for urban or, for rural, the greater of a 10-mile radius or the local
                                                                                                                                                                                      E.     Yes
          jurisdiction) for years 2008 - 2010. Include both DCA project number and project name in each case.
                Project Nbr Project Name                                  Project Nbr Project Name                                   Project Nbr Project Name
            1 2010-004 Gateway Pines I                                 4                                                           7
            2                                                          5                                                           8
            3                                                          6                                                           9
      F. Does the unit mix/rents and amenities included in the application match those provided in the market study?                                                                  F.     Yes
    Applicant's comments regarding this section of Threshold:
The first phase of this project, Gateway Pines I, was awarded credits last year and is targeted to families. Construction is currently underway. The market study prepared by Jerry Koonz supports the project.




     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)       No
          2) Subdivided?                                                                                                                                                             2)       No
          3) Modified?                                                                                                                                                               3)       No
     Applicant's comments regarding this section of Threshold:
No identity of interest between land buyer and seller.


     DCA's Comments:




               96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                                Part VIII-Threshold Criteria                       90 of 124
              Georgia Department of Community Affairs                                                                                                                                  2011 Funding Application                Office of Affordable Housing

                               PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                           Applicant                DCA
                                                                                                                                                                         Response                 USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
6   Environmental Requirements                                                                                                                                           Pass?

     A. Name of Consultant that prepared the Phase I Assessment:                                                                         A. Geotechnical and Environmental Consultants
     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:                                                                                                          65.4-66.7
        If "Yes", what are the contributing factors in decreasing order of magnitude?
        Interstate 75. A noise mitigation plan is required to ensure 65 DNL exterior and 45 DNL interior noise levels, or below, in accordance with HUD noise guidelines (NAG).
     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)    Yes
             If "Yes", enter the percentage of the site that is a wetlands:                                                                                                            7%
             If "Yes", will any development occur in the wetlands?                                                                                                                     No
                 If "Yes", is documentation provided as per Threshold criteria?
         4) State Waters/Streams area?                                                                                                                                          4)    Yes
     E. Has the Environmental Professional identified any of the following on the subject property:                                                                             E.     No
         1) Asbestos?                             No                             3) PCB's?             No                                5) Lead in water      No
         2) Lead-based paint?                     No                             4) Mold?              No                                6) Radon?             No
         7) Other (e.g., endangered species, Native American burial grounds, etc.):               No
     F. Is all additional environmental documentation required for a HOME application included?                                                                              F.      Yes
         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.      N/A
     Applicant's comments regarding this section of Threshold:
Project meets all DCA environmental requirements.
                                                                                                                                                                                                             Row size may be
                                                                                                                                                                                                               increased.
    DCA's Comments:
                                                                                                                                                                                                             Row size may be
                                                                                                                                                                                                               increased.




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                         Part VIII-Threshold Criteria                            91 of 124
              Georgia Department of Community Affairs                                                                                                                                  2011 Funding Application         Office of Affordable Housing

                                PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                             Applicant            DCA
                                                                                                                                                                           Response             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
7   Site Control                                                                                                                                                           Pass?
    A. Is site control provided through October 31, 2011?                                                                                                                     A.   Yes
    B. Form of site control:                                                                                                                         B. Contract/Option
    C. Name of Entity with site control:                                                                     C.                     Gateway Pines II Hahira, L.P.                  No
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:



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

    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:
Zoning evidence provided.

    DCA's Comments:



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




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                       Part VIII-Threshold Criteria                       92 of 124
              Georgia Department of Community Affairs                                                                                                                                    2011 Funding Application                Office of Affordable Housing

                                PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                            Applicant                 DCA
                                                                                                                                                                          Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
11 Public Water/Sanitary Sewer/Storm Sewer                                                                                                                                Pass?

    A. 1) Is there a Waiver Approval Letter From DCA included in this application for this criterion as it pertains to single-family detached Rural projects?                A1)       No
        2) If Yes, is the waiver request accompanied by an engineering report confirming the availability of water and the percolation of the soil?                           2)
    B. Check all that are available to the site and enter provider             1) Public water City of Hahira                                                                B1)      Yes
       name:                                                                   2) Public sewer City of Hahira                                                                 2)      Yes
    Applicant's comments regarding this section of Threshold:
Water/Sewer availability letters provided
    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.
    Applicant's comments regarding this section of Threshold:
A public meeting was held to inform local citizens and the project was presented to the Hahira City Council at a regularly scheduled council meeting.
                                                                                                                                                                                                               Row size may be
 The project is supported by the local government and residents of the community.
                                                                                                                                                                                                                 increased.
    DCA's Comments:




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




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                           Part VIII-Threshold Criteria                            93 of 124
               Georgia Department of Community Affairs                                                                                                                         2011 Funding Application                 Office of Affordable Housing

                                 PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                    Applicant                DCA
                                                                                                                                                                  Response                 USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
      D. Applicant agrees to provide the following additional required Amenities for Senior projects:                                                                D.     Agree
         1) Elevators are installed for access to all units above the ground floor.                                                                                  1)      Yes
         2) Buildings more than two story construction have interior furnished gathering areas in several locations in the lobbies and/or corridors                  2)      Yes
         3) a. 100% of the units are accessible and adaptable, as defined by the Fair Housing Amendments Act of1988                                                 3a)      Yes
              b. If No, was a DCA Architectural Standards waiver granted?                                                                                           3b)
     Applicant's comments regarding this section of Threshold:
Building will be two story with elevator. Although we only have two stories, we will provide furnished interior gathering spaces.
                                                                                                                                                                                                      Row size may be
      DCA's Comments:                                                                                                                                                                                   increased.


14 Rehabilitation Standards (Rehabilitation Projects Only)                                                                                                        Pass?

      A. Type of rehab (choose one):                                                                                                    A. <<Select>>                     <<Select>>
      B. Date of PNA:                                                                                                                   B.
      C. Name of consultant preparing PNA:                                                                                              C.
      D. Is 20-year replacement reserve study included?                                                                                                              D.
      E. Applicant understands that in addition to propose work scope, the project must meet state and local building codes, DCA architectural                       E.
         requirements as set forth in the QAP and Manuals, and health and safety codes and requirements. Applicant agrees?
      Applicant's comments regarding this section of Threshold:
N/A
                                                                                                                                                                                                      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:
                                                                                                                                                                                                      Row size may be
                                                                                                                                                                                                        increased.
      DCA's Comments:




               96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                 Part VIII-Threshold Criteria                            94 of 124
              Georgia Department of Community Affairs                                                                                                                                          2011 Funding Application                Office of Affordable Housing

                                 PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                                     Applicant              DCA
                                                                                                                                                                                   Response               USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
16 Building Sustainability                                                                                                                                                         Pass?

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

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

     C. For 4% credit projects, applicant agrees that the project must also include additional sustainability items as outlined in the Exhibit A to Appendix I Building               B.
         Sustainability Certification, and that the Building Sustainability Certification must be submitted with the Step II architectural documents submission detailing how
         the minimum standard will be achieved?
    Applicant's comments regarding this section of Threshold:
The project will meet and exceed Georgia Energy Codes and all DCA requirements.
                                                                                                                                                                                                                     Row size may be
                                                                                                                                                                                                                       increased.
    DCA's Comments:




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




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                                 Part VIII-Threshold Criteria                            95 of 124
              Georgia Department of Community Affairs                                                                                                                                     2011 Funding Application                Office of Affordable Housing

                               PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                                Applicant            DCA
                                                                                                                                                                              Response             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
18 Architectural Design & Quality Standards                                                                                                                                   Pass?
    Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                                       No
    Does this application meet the Architectural Standards contained in the Application Manual for quality and longevity?                                                             Yes
     A. Constructed and Rehabilitation Construction Hard Costs - are the following minimum review standards for rehabilitation projects met or exceeded by this project?
         Rehabilitation projects will be considered for funding only if the per unit rehabilitation hard costs exceed $25,000 for properties less than 20 years old and the      A.
         per unit rehabilitation hard costs exceed $30,000 for properties that exceed 20 years old. The costs of furniture, fixtures, construction of community buildings
         and common area amenities are not included in these amounts.
     B. Standard Design Options for All Projects                                                                                                                                 B.   Yes
         1) Exterior Wall Finishes (select one)       Exterior wall faces will have an excess of 40% brick or stone on each total wall surface                                   1)   Yes

         2) Attractive Features (select two)          Addition of 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:
Project will meet all requirements for new construction.                                                                                                                                                        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:




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                          Part VIII-Threshold Criteria                              96 of 124
               Georgia Department of Community Affairs                                                                                                                                   2011 Funding Application         Office of Affordable Housing

                                  PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                               Applicant            DCA
                                                                                                                                                                             Response             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
20 Compliance History Summary                                                                                                                                                Pass?

      A. Has the principal and entities of each General Partner, Developer, Management Company and Project Consultant(s) submitted a complete and correct DCA                   A.
                                                                                                                                                                                     Yes
         Compliance History Summary Form?
      B. Are five fully executed DCA Uniform Release Forms included in the application?                                                                                         B.   No
      C. Is the completed compliance questionnaire for each General Partner, Developer, and project consultant(s) included in the application?                                  C.   Yes
      D. Has Applicant included appropriate documentation or releases from other state housing agencies (both the MultiState Release Form and the Uniform Release               D.
                                                                                                                                                                                     No
         Form)?
     Applicant's comments regarding this section of Threshold:
Multi-state release form and Uniform Release Form are not required because applicant has no out of state projects monitered by other state housing agencies.


      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
      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
      DCA's Comments:




               96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                        Part VIII-Threshold Criteria                       97 of 124
              Georgia Department of Community Affairs                                                                                                                                              2011 Funding Application                Office of Affordable Housing

                                PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                                         Applicant              DCA
                                                                                                                                                                                       Response               USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
23 Additional Reporting Requirements                                                                                                                                                   Pass?
    A. The Census Tract for the property is characterized as [Choose either Minority concentration (50% or more minority), Racially                          A.         Non-minority               <<Select>>
       mixed (25% - 49% minority), or Non-minority (less than 25% minority)]:
    B. List all contiguous Census Tracts:                       B. 102.01, 101.01, 101.03, 103.01. , 33.07
    C. Is Contract Addendum included in Application?                                                                                                                                      C.   Yes
    Applicant's comments regarding this section of Threshold:
                                                                                                                                                                                                                         Row size may be
    DCA's Comments:
                                                                                                                                                                                                                           increased.


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




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                                     Part VIII-Threshold Criteria                            98 of 124
              Georgia Department of Community Affairs                                                                                                                                2011 Funding Application                Office of Affordable Housing

                                PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                           Applicant              DCA
                                                                                                                                                                         Response               USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
26 Relocation and Displacement of Tenants                                                                                                                                Pass?
    A. Does the Applicant anticipate displacing or relocating any tenants?                                                                                                  A.    No
    B. 1) Are any of the sources other than DCA HOME considered to be Federal Funding?                                                                                     B1)
       If Yes, applicant will need to check with the source of these funds to determine if this project will trigger the Uniform Relocation Act or 104(d).
       2) Will any funding source used trigger the Uniform Relocation Act or HUD 104 (d) requirements?                                                                      2)
    C. Is sufficient comparable replacement housing identified in the relocation plan according to DCA relocation requirements?                                             C.
    D. Provide summary data collected from Relocation Displacement Spreadsheet:                                                                                             D.
       1) Number of Over Income Tenants                                                                                                                                     1)
       2) Number of Rent Burdened Tenants                                                                                                                                   2)
       3) Number of Vacancies                                                                                                                                               3)
       4) Number of Down units                                                                                                                                              4)
       5) Number of Displaced Tenants                                                                                                                                       5)
    E. Indicate Proposed Advisory Services to be used (see Relocation Manual for further explanation):                                                                      E.
        1) Individual interviews                                                                                                                                            1)
        2) Meetings                                                                                                                                                         2)
        3) Written Notifications                                                                                                                                            3)
        4) Other - describe in box provided:                  4)
    Applicant's comments regarding this section of Threshold:
No relocation or displacement required.

    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:




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                       Part VIII-Threshold Criteria                            99 of 124
               Georgia Department of Community Affairs                                                                                                                                                2011 Funding Application                Office of Affordable Housing

                                 PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                                                                         Applicant                 DCA
                                                                                                                                                                                       Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
28 Optimal Utilization of Resources                                                                                                                                                    Pass?
     Applicant's comments regarding this section of Threshold:
Application is an optimal utilitzation of resources because it meets all the goals and policies set forth in the QAP providing safe, decent and affordable housing that is also viable physically, operationally and
economically over time. Equity prices are good for this project and should be at the high range of the market at award . A HOME loan consent was approved at Pre-application.                                               Row size may be
                                                                                                                                                                                                                              increased.
    DCA's Comments:




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



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



         Additional Required Project Amenities for 4% Tax Credit Projects
         <<Select>>
         Microwave Oven in every unit
         In-sink disposal in every unit
         Built in dishwasher in every unit
         Installed call system in all units, including a buzzer and light to the exterior
         High-speed internet access
         Attractively fenced community gardens
         Equipped soccer field
         Tennis court
         Equipped walking path with exercise stations or sitting areas
         Retention pond / fountain
         Equipped playground
         Covered pavilion with picnic/barbecue facilities to encourage community or family reunion type functions
         Furnished Children’s Activity center
         Furnished Library
         Equipped Computer Center
         Furnished Exercise/Fitness Center
         Furnished sitting areas by elevators
         Swimming Pool
               96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                                                                       Part VIII-Threshold Criteria                           100 of 124
        Georgia Department of Community Affairs                                                                                                     2011 Funding Application                                                                                                                  Office of Affordable Housing

                      PART EIGHT - THRESHOLD CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
Preliminary Rating: Incomplete                                                                                                          Applicant             DCA
                                                                                                                                        Response              USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
    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




        96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                           Part VIII-Threshold Criteria                                                                                                                              101 of 124
           Georgia Department of Community Affairs                                                                     2011 Funding Application                                                                           Office of Affordable Housing
                                   PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                                                                           Score         Self DCA
                                                                                                                                                                                           Value        Score Score
                                                                                                                                                                            TOTALS:         90           62    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
DCA's Comments:                               Enter "1" for each item                                                                       Enter "1" for each item                           Enter "1" for each item
                                                                                                                                                                                                                          increased.
A. Missing / incomplete documents:            Nbr        0        B. Financial adjustments/revisions requested:                           Nbr          0          C. Documents not organized correctly: Nbr      0
1                                                                 1                                                                                               1

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

5                                                                5                                                                                                     5

6                                                                6                                                                                                     6

7                                                                7                                                                                                     7

8                                                                8                                                                                                     8

9                                                                9                                                                                                     9

10                                                               10                                                                                                    10

11                                                               11                                                                                                    11

12                                                               12                                                                                                    12




           96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                             Part IX A-Scoring Criteria                                                                                        102 of 124
             Georgia Department of Community Affairs                                                                               2011 Funding Application                                                                                    Office of Affordable Housing
                                     PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                                                                                             Score           Self DCA
                                                                                                                                                                                                             Value          Score Score
                                                                                                                                                                                      TOTALS:                 90             62    10
2. DEEPER TARGETING / RENT AND INCOME RESTRICTIONS                                                                                                                                                             3              3                X
     50% Gross Rent Restrictions / 50% Income Restrictions:                                   Nbr units to have these restrictions:              12                     Percent of Residential Units:         21.4%
     Applicant's comments regarding this section of scoring:
12 units @ 50% agrees with our rent schedule on part VI.
      DCA's Comments:



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

    Applicant's comments regarding this section of scoring:
Gateway Pines is less than 1 mile walking/driving distance from the city hall and courthouse.
                                                                                                                                                                                                                                          Row size may be
The site has in excess of 10 desirables and no undesirables.                                                                                                                                                                                increased.


      DCA's Comments:

                                                                                                                                                                                                                                          Row size may be
                                                                                                                                                                                                                                            increased.



4. Community Transportation Options                                                           See scoring criteria for further requirements and information                                                    2             0     0           X
 A. Rapid Rail                                                                                                                                                                                                 2       A.    0
 B. Public Transit Stop                                                                                                                                                                                        1       B.    0
      Applicant's comments regarding this section of scoring:
N/A

      DCA's Comments:




             96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                       Part IX A-Scoring Criteria                                                                                                      103 of 124
              Georgia Department of Community Affairs                                                                                           2011 Funding Application                                                     Office of Affordable Housing
                                             PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                                                                                     Score      Self DCA
                                                                                                                                                                                                     Value     Score Score
                                                                                                                                                                                           TOTALS:    90        62    10
5. Adaptive Reuse                                      (w/PNA & supporting documentation - see scoring criteria)                   See scoring criteria for further requirements and information       1         0           X
      Will the entire building be an adaptive reuse?
      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:
N/A

      DCA's Comments:




6. Brownfield                                          (With EPA/EPD Documentation)                                                See scoring criteria for further requirements and information       2          0          X
      Environmental regulatory agency which has designated the site as a Brownfield and determined:cleanup guidelines:
      Applicant's comments regarding this section of scoring:
N/A

      DCA's Comments:




7. SUSTAINABLE DEVELOPMENTS                         Choose only one. See scoring criteria for further req'mts. Earth Craft Communities                                            3                               3          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:
Memorandum of Participation and Scoring Sheet attached




      DCA's Comments:




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                                  Part IX A-Scoring Criteria                                                                   104 of 124
              Georgia Department of Community Affairs                                                                                  2011 Funding Application                                                                                 Office of Affordable Housing
                                          PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                                                                                                  Score          Self DCA
                                                                                                                                                                                                                  Value         Score Score
                                                                                                                                                                                         TOTALS:                   90            62    10
8. STABLE COMMUNITIES / REDEVELOPMENT / REVITALIZATION             Stable Communities < 10%                                                                                                                         6             4             X
                                   Additional required questions depending on option selected above:
 A. Stable Communities                                                                                                                                                                                              4
 X    1.    Project is located in a census tract that meets the following demographics according to the most recent FFIEC Census Report (www.ffiec.gov/WebCensus/):                                                             Yes/No Yes/No
      a)    Less than 10% below Poverty level                           (see Income)                                                                                                                                      a)     Yes
      b)    Designated Middle or Upper Income level                     (see Demographics)                                                                                                                                b)     Yes
       c)   Market study must demonstrate need for affordable housing                                                                                                                                                     e)     Yes
      2.    Project is located in a census tract that meets the following demographics according to the most recent FFIEC Census Report (www.ffiec.gov/WebCensus/):                                                             Yes/No Yes/No
      a)    Less than 20% below Poverty level                           (see Housing)                                                                                                                                     a)
      b)    Designated Middle or Upper Income level                     (see Demographics)                                                                                                                                b)
       c)   Market study must demonstrate need for affordable housing                                                                                                                                                     e)
 B. Community Redevelop / Revitalization Plans and Strategies                                                                                                                                                       6
      1. HOPE VI or Choice Neighborhoods Initiatives - the Initiative will:                                                                                                                                                     Yes/No Yes/No
       a) Provide affordable units for an extended period of 30 years or more?                                                                                                                                            a)
       b) Be part of a mixed income phased community with a significant market component?                                                                                                                                 b)
       c) Facilitate the deconcentration of poverty?                                                                                                                                                                      c)
       d) Provide for community improvements or amenities?                                                                                                                                                                d)
      2. Statutory Redevelopment Plans                               Plan clearly targets project's specific neighborhood and is proven to be current, ongoing and directly affecting site of proposed project?           2.
      3. Redevelopment Zones                                         Type:                     <<Select>>            Identifier / Nbr:                                                                                    3.
      4. Local Redevelopment Plan - includes items below?            Name of Plan:                                                                                                                                        4.
       a) Adopted on or before January 1, 2011?                      Date adopted:                                                                                                                                        a)
       b) A discussion of potential sources of funding for the plan;                                                                                                                                                      b)
       c) A clearly delineated target area that includes the proposed project site                                                                                                                                        c)
       d) Detailed policy goals (one of which must be the rehabilitation or production of affordable rental housing)                                                                                                      d)
       e) Implementation measures along with specific time frames for the achievement of such policies and housing activities.                                                                                            e)
        f) The proposed development project must support at least one of the goals of the redevelopment or revitalization plan;                                                                                            f)
       g) An assessment of the existing physical structures and infrastructure of the community                                                                                                                           g)
     Is the Plan:                                                                                                                                                                                                               Yes/No Yes/No
       h) Formulated by the Owner of the project and submitted to a local government for approval?                                                                                                                        h)
        i) A short-term work plan?                                                                                                                                                                                         i)
        j) A comprehensive plan, consolidated plan, municipal zoning plan or land use plan?                                                                                                                                j)
       k) More than four years old?                                                                                                                                                                                       k)
     Applicant's comments regarding this section of scoring:
Evidence provided.




     DCA's Comments:




              96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                          Part IX A-Scoring Criteria                                                                                              105 of 124
           Georgia Department of Community Affairs                                                                    2011 Funding Application                                                                           Office of Affordable Housing
                                    PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                                                                    Score            Self DCA
                                                                                                                                                                                    Value           Score Score
                                                                                                                                                               TOTALS:                90             62    10
9. PHASED DEVELOPMENTS / PREVIOUS PROJECTS                                                                                 (choose only one)                                           3              3     0            X
     A. Phased Developments                                                                                                                                                            3       A.     3
      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.
                                                                                                                                                                                                     Yes
         least one phase has commenced construction per that allocation?
         If Yes, indicate DCA Project Nbr and Project Name of that phase:               DCA Project Nbr:       2010-004    Project Name                   Gateway Pines I
      2. Was the community originally designed as one development with different phases?                                                                                           2. Yes
      3. Are any other phases for this project also submitted during the current funding round?                                                                                    3.   No
      4. Was site control over the entire site (including all phases) in place when the initial phase was closed?                                                                  4. Yes
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:
Phased Plan was submitted in our application last year (2010-004) as information only. Further evidence is included in application Tab 1.
    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:
Answer to all questions in this category is no. The market study supports our application.




    DCA's Comments:




           96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                           Part IX A-Scoring Criteria                                                                                         106 of 124
             Georgia Department of Community Affairs                                                                        2011 Funding Application                                                                        Office of Affordable Housing
                                       PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                                                                                 Score         Self DCA
                                                                                                                                                                                                 Value        Score Score
                                                                                                                                                                          TOTALS:                 90           62    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:

      DCA's Comments:




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

      B. Preservation of Affordable Projects                                                                                                                                                       6     B.     0    0
       1. Expiring Tax Credit Properties                                                                                                                                                           6     1.
       2. USDA Properties                                                                                                                                                                          2     2.
       3. HUD Properties                                                                                                                                                                           2     3.
      Applicant's comments regarding this section of scoring:
N/A




      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:
N/A


      DCA's Comments:




             96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                Part IX A-Scoring Criteria                                                                                     107 of 124
             Georgia Department of Community Affairs                                                                         2011 Funding Application                                                                           Office of Affordable Housing
                                       PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                                                                                Score            Self DCA
                                                                                                                                                                                                Value           Score Score
                                                                                                                                                                          TOTALS:                 90             62    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:
GP and developer have successfully closed with a federal syndicator prior to application submission the following 3 qualifying projects: Gateway Pines I (2010-004), Brookhaven II (2009-035) and Spring Creek
(2008-012). Letters from closing attorneys are included in our application binder.
      DCA's Comments:




15. RURAL                                                                                                                          (80 residential units or less)                                  3             3              X
      If claiming Rural points for both this project and another rural project, list the project name of the other rural project in box below and indicate points claimed. List all other rural projects
      submitted in this funding round in Comments below for which no points are being claimed.
           Project Name                            Chestnut Village                           Points Claimed for other project:         2                   Points Claimed for this project:       3
      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:
N/A




      DCA's Comments:




             96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                                 Part IX A-Scoring Criteria                                                                                        108 of 124
             Georgia Department of Community Affairs                                                                 2011 Funding Application                                                  Office of Affordable Housing
                                     PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                                                  Score         Self DCA
                                                                                                                                                                  Value        Score Score
                                                                                                                                                        TOTALS:    90           62    10
17. LEVERAGING OF RESOURCES                                                                                                                                        8            3       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.    0       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.
      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.     3
 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:
HOME loan consent was received during pre-application.




    DCA's Comments:




             96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                        Part IX A-Scoring Criteria                                                                109 of 124
           Georgia Department of Community Affairs                                                                     2011 Funding Application                                                                   Office of Affordable Housing
                                    PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                                                                     Score         Self DCA
                                                                                                                                                                                     Value        Score Score
                                                                                                                                                                  TOTALS:             90           62    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:



    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:

    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?
    A. Owner/Developer                                                                                                                                                                       A.    10
    B. Manager (Pass or Fail)                                                                                                                                                                B.   Pass
    Applicant's comments regarding this section of scoring:
We received the pre-determination for Manager but have not received the complance score for Owner'Developer.
                                                                                                                                                                                                                Row size may be
                                                                                                                                                                                                                  increased.

    DCA's Comments:
                                                                                                                                                                                                                Row size may be
                                                                                                                                                                                                                  increased.

                                                                                      TOTAL POSSIBLE SCORE                                                                            90           62     10




         (Select a unit amenity from options provided here)                                                                 (Select an amenity from options provided here)
         Microwave Oven in every unit                                                                                       <<Select>>
           96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                            Part IX A-Scoring Criteria                                                                                 110 of 124
 Georgia Department of Community Affairs                                                               2011 Funding Application                                                       Office of Affordable Housing
                     PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                                             Score       Self DCA
                                                                                                                                                             Value      Score Score
                                                                                                                                             TOTALS:           90        62    10
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




 96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                         Part IX A-Scoring Criteria                                                                  111 of 124
Georgia Department of Community Affairs                                                            2011 Funding Application                                       Office of Affordable Housing
                    PART NINE - SCORING CRITERIA - 2011-026 Gateway Pines II Apartments, Hahira, Lowndes County
                                                                                                                                            Score    Self DCA
                                                                                                                                            Value   Score Score
                                                                                                                                  TOTALS:    90      62    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




96daa409-455d-4354-a28a-8425d039068e.xlsx - May 2011                                                 Part IX A-Scoring Criteria                                                       112 of 124
    Georgia Department of Community Affairs                                                                         Office of Affordable Housing
                       Scoring Section 18 - Superior Project Concept and Design Narrative
                                                   Gateway Pines II Apartments
                                                    Hahira, Lowndes County

The proposed Gateway Pines Phase II in Hahira, Georgia is a 56 unit tax credit apartment community for senior Housing For Older
Persons residents earning 50% and 60% of area median income. The development is located in Lowndes County inside the city                 NOTE: Row siz
limits of Hahira, Georgia. Gateway Pines II is the second phase of a planned development with common ownership in Hahira. The             decreased as n
project is located in a USDA rural area.                                                                                                  will hold only 2
This project qualifies for superior points because the 6.32 acre site is in a 120-acre planned mixed use development called “Hahira
Gateway” consisting of our Phase I family apartments as well as conventional homes, a grocery store, family duplexes, and retail
space. Hahira Gateway is patterned like a traditional village square with green spaces and the Town Centre being a shopping retail
area. The apartments will be within walking distance of a grocery store, a school, retail space, downtown Hahira and five city
maintained parks. Hahira is a golf cart community. Gateway Pines will have a golf cart path connecting the community to approved
golf cart roads. We will have golf cart and electric vehicle charging stations. This is the second phase of a phased development. A
third phase is planned if the market continues to grow.

The project is planned with one large two story building with elevators and interior hallways and entrances. Both the 1st and 2nd
floors will have a gathering place for residents to socialize. The 1st floor central community area will include the office, a library,
exercise room, central laundry and gathering spaces. The design of the building will foster a great sense of community among the
residents. The interior hallways create a secure environment for the residents. The building will be sprinkled for fire safety.
Residents will also have exterior gathering spaces including a covered pavillion with barbecue facilities and a gazebo.

Gateway Pines will be a Earthcraft Community certified project. Earthcraft Community is difficult to achieve in rural areas. Because of
connectivity with Phase I, single family homes and retail space the project can qualify. Gateway Pines will qualify because of
sustainablity, energy efficiency, water effiiciency, effective storm water management and walkability. Christina Corley of Southface
visited the site and was impressed with the neighborhood and the proximity to downtown, shopping and schools.

The residents will be provided with amenities and community activities that are not currently available to them in the primary market
area of Hahira. The senior residents will benefit from the sense of community and family generated by the activities that will be
available to them at Gateway Pines. Hahira has a very strong market for a senior tax credit project according to our market analyst,
Jerry Koontz. The funding of Gateway Pines II will provide the senior residents with many benefits and opportunities not typically
available in a rural area.




    2011 OAH Funding Round                        96daa409-455d-4354-a28a-8425d039068e.xlsx                                         113 of 124
Georgia Department of Community Affairs                                               Office of Affordable Housing
                 Scoring Section 18 - Superior Project Concept and Design Narrative
                                          Gateway Pines II Apartments
                                           Hahira, Lowndes County




2011 OAH Funding Round                    96daa409-455d-4354-a28a-8425d039068e.xlsx                   114 of 124
Georgia Department of Community Affairs                                               Office of Affordable Housing




                         NOTE: Row size may be increased or
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2011 OAH Funding Round                    96daa409-455d-4354-a28a-8425d039068e.xlsx                   115 of 124
Georgia Department of Community Affairs                                               Office of Affordable Housing




2011 OAH Funding Round                    96daa409-455d-4354-a28a-8425d039068e.xlsx                   116 of 124
    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 117 of 124
    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 118 of 124
    [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 119 of 124
                                                                                           SUMMARY OF DCA UNDERWRITING ASSUMPTIONS
Category                                                Specification                                                Scale                                                                          Minumum Maximum
Funding Limits                                          LIHTC                                                        Per Project                                                                      n/a          950,000
                                                                                                                     Per Owner Per Round                                                              n/a         1,700,000
                                                        HOME                                                         Per Project                                                                    800,000       2,500,000
                                                                                                                     Per Owner Per Round (% of HOME funds available)                                  n/a            25%
                                                                                                                         0 BR         1 BR         2 BR         3 BR                 4 BR
                                                        Unit Cost Limit - both LIHTC and HOME                          110,481      126,647      154,003     199,229               218,693            n/a         8,186,472
                                                        Brownfield Projects                                            132,577      151,976      184,804     239,075               262,432            n/a         9,823,776
                                                        Historic Rehab Projects                                        121,529      139,312      169,403     219,152               240,562            n/a         9,005,112
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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