2008 020RosewoodEstates by 65Afpp4

VIEWS: 7 PAGES: 996

									        Georgia Department of Community Affairs                                                                                                          Office of Affordable Housing

                                                2008 Application Binder Tabs Checklist For: Rosewood Estates, Cordele, Crisp 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.
                                                                                                                                                                    Included Req'd LIHTC HOME Non- CHDO
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                   in App for all Apps Apps Profit Apps
Nbr                                                                                                                                                                  Binder Apps Only Only Apps Only

--                                                       Completed Application Tabs Checklist                                                                        Yes     x
1 Core Application Form                                  Completed Core Application (Parts I through X)                                                              Yes     x
                                                         Documents from USDA indicating project is located in rural area                                             Yes     x
                                                         Project Narrative / Project Concept                                                                         Yes     x
                                                         Evidence of National Historic Designation (if applicable)                                                   N/a     x
                                                         Organizational Chart                                                                                        Yes     x
                                                         Copy of Tax Exempt Bond Inducement Resolution, if applicable                                                N/a     x
2 Waivers (as applicable)                                Per-Unit Cost Limit Waiver Approval                                                                         N/a     x
                                                         Operating Cost Waiver Approval                                                                              N/a     x
                                                         Tenancy Characteristic Waiver Approval                                                                      N/a     x
                                                         Target Population Project Waiver Approval                                                                   N/a     x
                                                         Payment & Performance Bond Waiver Approval                                                                  N/a     x
                                                         Other:                                                                                                      N/a
3 For projects proposing both new const. & rehab         New Construction and Rehabilitation Eligible Basis Breakdown (if applicable)                                N/a     x
  For occupied projects proposing rehab                  Actual Operating Statements for last two years                                                              N/a     x
  For projects proposing commercial component            Development Budget for commercial component                                                                 N/a     x
                                                         Sources of Funds for commercial component                                                                   N/a     x
                                                         Annual Income Statement for commercial component                                                            N/a     x
                                                         Annual Expense Statement for commercial component                                                           N/a     x
                                                         15-year Operating Proforma for commercial component                                                         N/a     x
                                                         Evidence of Preliminary Financing for commercial component                                                  N/a     x
                                                         Leases and/or letters of intent from prospective lessees                                                    N/a     x
4 Site Control Documentation                             Executed Warranty Deed, Sales Option Contract or long-term ground lease                                     Yes     x
                                                         Legal Description of Property                                                                               Yes     x
5 Environmental Requirements                             DCA Pre-Application Environmental Approval Letter                                                           N/a     x
                                                         DCA Noise Waiver Approval, if applicable                                                                    N/a     x
                                                         Phase I Environmental Study (including Flood Plains and Wetlands Delineation maps)                          Yes     x
                                                         Phase II Environmental Study (if applicable)                                                                N/a     x
                                                         Environmental Certification                                                                                 Yes     x
                                                         Owner's Environmental Questionnaire and Disclosure Statement                                                Yes     x
                                                         Property Log and Information Checklist                                                                      Yes     x
                                                         Flood Plains / Floodways documentation (if applicable)                                                      Yes     x
                                                         Wetlands documentation (if applicable)                                                                      Yes     x
                                                         HOME/HUD Environmental Questionnaire                                                                        N/a                 x
                                                         Noise documentation (if applicable)                                                                         Yes     x
                                                         O & M Plan (if applicable)                                                                                  N/a     x



        2008 OAH Funding Application - March                                      Application Tabs Checklist                                                                          1 of 996
        Georgia Department of Community Affairs                                                                                                          Office of Affordable Housing

                                                2008 Application Binder Tabs Checklist For: Rosewood Estates, Cordele, Crisp 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.
                                                                                                                                                                    Included Req'd LIHTC HOME Non- CHDO
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                   in App for all Apps Apps Profit Apps
Nbr                                                                                                                                                                  Binder Apps Only Only Apps Only

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

                                                         Copy of Ordinance                                                                                           Yes     x

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

8 Market Feasibility                                     DCA Pre-Application Market Study Approval Letter                                                            N/a     x
                                                         Applicant market information or applicant-commissioned market study                                         Yes     x
                                                         Duplicate work scope for rehabilitation                                                                     N/a     x
                                                         Copy of Location and Vicinity map                                                                           Yes     x
                                                         Copy of Conceptual Site Plan                                                                                Yes     x

9 Appraisal                                              Applicant Commissioned Appraisal (if applicable)                                                            N/a     x

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

11 Architectural Design                                  Sustainable Communities Certification documentation                                                         N/a     x
                                                         Project Design and Energy Efficiency Waiver Approval                                                        N/a     x
                                                         Evidence of Off Site Improvements for Master Planned Communities                                            N/a     x
                                                         Optional Amenities Waiver Approval                                                                          N/a     x
                                                         Architectural Standards Waiver Approval                                                                     N/a     x

12 Physical Needs Assessment                             Physical Needs Assessment documentation                                                                     N/a     x
      (Rehab projects)                                   Capital Reserve Statement                                                                                   N/a     x
                                                         Scope of Work                                                                                               N/a     x
                                                         Construction Budget                                                                                         N/a     x




        2008 OAH Funding Application - March                                      Application Tabs Checklist                                                                          2 of 996
        Georgia Department of Community Affairs                                                                                                          Office of Affordable Housing

                                                2008 Application Binder Tabs Checklist For: Rosewood Estates, Cordele, Crisp 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.
                                                                                                                                                                    Included Req'd LIHTC HOME Non- CHDO
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                   in App for all Apps Apps Profit Apps
Nbr                                                                                                                                                                  Binder Apps Only Only Apps Only

13 Site Info and Development Plan                        Location and Vicinity Map (all parcels for a scattered site must be indicated)                              Yes     x
   (All Projects New AND Rehab)                          Conceptual Site Development Plan of the property                                                            Yes     x
                                                         Site Maps & Photographs (photos must be color in all copies)                                                Yes     x
                                                         Aerial Photo (for HOME and 9% LIHTC funded properties)                                                      Yes     x
                                                         Desirable/Undesirable Certification                                                                         Yes     x
                                                         Evidence that desirable activities under construction are above ground                                      N/a     x
                                                         Third party evidence of change/mitigation of undesirable conditions                                         N/a     x

14 Quality Growth Initiatives                            Infill map showing established development on adjacent sides                                                N/a     x
                                                         Documentation of Master Plan Communities, if applicable                                                     N/a     x
                                                         Rural Smart Growth map showing established development on adjacent side                                     Yes     x

15 Community Transportation Option                       Documentation of Transit Oriented Development, regularly scheduled bus service, or "on call" bus            Yes     x
                                                         service

16 Adaptive Re-Use, Brownfield, and Greyfield            Building / site photos (Adaptive Re-use and Greyfield)                                                      N/a     x
                                                         Evidence of EPA Brownfield designation, opinion letter, budget, scope and timeline for clean up.            N/a     x

17 Preliminary Financing Commitments                     Preliminary Financing Commitments - Debt, Equity, Historic Rehab Credits & Grants (if applicable)           Yes     x
                                                         Documentation of Applicable Index Rate (for interest rates tied to an index)                                Yes     x
                                                         Operating Subsidy Agreements other than Rental Assistance Agreements for which points will be               N/a     x
                                                         claimed
                                                         HUD Invitation to Submit & Lender Preliminary Commitment for HUD 221(d)3 or (d)4 Program                    N/a     x
                                                         Evidence of Developer Fee Note                                                                              Yes     x
                                                         Evidence of Bridge Loans, if applicable                                                                     N/a     x
                                                         Evidence of PBRA Agreements, if applicable                                                                  N/a     x
                                                         Letter from Lender re: assumption of existing debt                                                          N/a     x

        Assumption of Existing Debt (if applicable)      Certification Letter                                                                                        N/a     x
                                                         Copy of Original Promissory Note and Amendments                                                             N/a     x
                                                         Copy of Original Loan Agreement and Amendments                                                              N/a     x
                                                         Copy of Original Security Instruments                                                                       N/a     x

18 Legal Opinions                                        Legal Opinion for Assisted Living (as applicable)                                                           N/a     x
                                                         LIHTC Legal Opinion as to Project Qualification for Acquisition Credits                                     N/a     x
                                                         Accessibility exemption Legal Opinion (if applicable)                                                       N/a     x
                                                         Other:                                                                                                      N/a




        2008 OAH Funding Application - March                                      Application Tabs Checklist                                                                          3 of 996
        Georgia Department of Community Affairs                                                                                                          Office of Affordable Housing

                                                2008 Application Binder Tabs Checklist For: Rosewood Estates, Cordele, Crisp 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.
                                                                                                                                                                    Included Req'd LIHTC HOME Non- CHDO
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                   in App for all Apps Apps Profit Apps
Nbr                                                                                                                                                                  Binder Apps Only Only Apps Only

19 Performance                                           Evidence of Experience Determination (for Owner, Developer, and Property Manager as required)               Yes     x
   (Experience and Compliance)                           Compliance Scoring Certificates (as applicable)                                                             N/a     x
                                                         Detail of relationships when an identity of interest exists between any Project Participants and            N/a     x
                                                         development team members.
                                                         General Partner Organization Documents Including Operating Agreement                                        Yes     x
                                                         Development Agreement                                                                                       Yes     x
                                                         Partnership or Consulting Agreement Between Inexperienced and Experienced Entities, if                      Yes     x
                                                         applicable (must include training plan)
                                                         Experience and Compliance Documentation as required                                                         N/a     x
                                                         Detailed statements and dates of all governmental debarments/ suspensions, criminal                         N/a     x
                                                         convictions, indictments, bankruptcies and pending criminal investigations of all Owners and
                                                         Developers.

        Performance                                      Organizational Chart (as of time of application submittal)                                                  Yes     x
        Workbook (electronic)                            Completed General Information Form for Performance (if not done at Pre-Application)                         Yes     x
        - includes:                                      Owner, Developer and Manager Questionnaires                                                                 Yes     x
                                                         Index of Multistate Release Forms (that have been sent to other states)                                     Yes     x
                                                         Copies of Multistate Release Form (that have been sent to other states)                                     Yes     x
                                                         Compliance History Summaries (CHS) - complete indicated sections for each team member                       Yes     x
                                                         Compliance Self-Score Tally Sheet (delete unused lines, Participants must match Org Chart)                  Yes     x
                                                         Compliance Scoring Worksheets (CSW) - complete indicated sections for each team member                      Yes     x
20 Eligibility for credit under Nonprofit Set-Aside      IRS Tax-Exempt Status Determination Letter                                                                  Yes                       x     x
   and CHDO Set-Aside:                                   Secretary of State Certification of Nonprofit Status                                                        Yes                       x     x
                                                         General Partnership Joint Venture Agreement                                                                 Yes                       x     x
                                                         Legal Opinion regarding nonprofit tax-exempt status                                                         Yes                       x     x
                                                         Documentation of Nonprofit's ownership interest                                                             Yes                       x     x
                                                         Board of Directors information: name, address, phone, occupation, positions                                 Yes                       x     x
                                                         Development Agreement if the nonprofit is a codeveloper                                                     Yes                       x     x
                                                         ByLaws for NonProfit Organization                                                                           Yes                       x     x
                                                         Articles of Incorporation                                                                                   Yes                       x     x
                                                         Copy of State CHDO Pre-qualification or Renewal letter                                                      Yes                             x
                                                         Evidence of CHDO Predevelopment Loan                                                                        N/a                             x
                                                         Evidence that project is within CHDO service area                                                           N/a                             x




        2008 OAH Funding Application - March                                      Application Tabs Checklist                                                                          4 of 996
        Georgia Department of Community Affairs                                                                                                          Office of Affordable Housing

                                                2008 Application Binder Tabs Checklist For: Rosewood Estates, Cordele, Crisp 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.
                                                                                                                                                                    Included Req'd LIHTC HOME Non- CHDO
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                   in App for all Apps Apps Profit Apps
Nbr                                                                                                                                                                  Binder Apps Only Only Apps Only

21 Additional HOME/HUD Requirements                      Site & Neighborhood Standards Pre-Approval (if applicable)                                                  N/a                 x
                                                         Site & Neighborhood Standards Certification                                                                 N/a                 x
                                                         US Census Tract documentation                                                                               N/a                 x
                                                         Certification for Contracts, Loans and Cooperative Agreements                                               N/a                 x
                                                         Disclosure of Lobbying Activities                                                                           N/a                 x
                                                         Applicant / Recipient Disclosure / Update Report                                                            N/a                 x
                                                         MBE / WBE Outreach Plan Guide form                                                                          N/a                 x
                                                         Pre-Contract Agreement or Right to Withdraw                                                                 N/a                 x
                                                         Affirmative Fair Housing Marketing Plan                                                                     N/a                 x
22 Relocation (if applicable)                            Detailed Tenant Relocation Plan                                                                             N/a     x
                                                         Tenant Household Data Forms                                                                                 N/a     x
                                                         Relocation Displacement Spreadsheet                                                                         N/a     x
                                                         Temporary Relocation Cost Estimate                                                                          N/a     x
                                                         General Info Notice for Occupants at Time of App / Proof of Delivery                                        N/a                 x
                                                         Current Rent Roll                                                                                           N/a     x
                                                         Other (per Relocation Manual):                                                                              N/a
23 Special Needs Target Populations                      DCA Pre-approval of Service Provider and Type of PBRA                                                       Yes     x
                                                         Detailed Sources and Uses Budget for supportive services (on site)                                          N/a     x
                                                         Evidence of PBRA for Special Needs Units (if applicable)                                                    N/a     x
                                                         Letter of Agreement between service provider and ownership entity                                           Yes     x
24 Additional Rent and Income Elections                  Rent and Income Restriction Certification                                                                   Yes     x
                                                         Executed Owner/PHA Rental Subsidy Agreement (if applicable)                                                 N/a     x
        PBRA                                             Project-Based Rental Assistance: executed agreement with funding entity                                     N/a     x
                                                         HUD Letter regarding extension of PBRA contract                                                             N/a     x
                                                         Tenant Selection Plan if PBRA is not from HUD PHA or USDA                                                   N/a     x
                                                         DCA PBRA For Special Needs Applicant Certification                                                          Yes     x
25 Extension of Cancellation Option                      Agreement to forgo the cancellation option                                                                  Yes     x
                                                         Tenant Ownership Conversion Plan                                                                            N/a     x

26 Preservation                                          Priority Designation from HUD or USDA                                                                       N/a     x
                                                         Documentation Evidencing Rent and Income Restrictions or a Rent Roll                                        N/a     x
                                                         Partnership's 1st Full Year's and 15th Year's Tax Returns                                                   N/a     x
                                                         Section 8 PBRA contract (if applicable)                                                                     N/a     x
                                                         IRS Form 8609                                                                                               N/a           x




        2008 OAH Funding Application - March                                      Application Tabs Checklist                                                                           5 of 996
        Georgia Department of Community Affairs                                                                                                          Office of Affordable Housing

                                                2008 Application Binder Tabs Checklist For: Rosewood Estates, Cordele, Crisp 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.
                                                                                                                                                                    Included Req'd LIHTC HOME Non- CHDO
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                   in App for all Apps Apps Profit Apps
Nbr                                                                                                                                                                  Binder Apps Only Only Apps Only

27 Local Government Support                              Letter of Support & local governing body resolution - or -                                                  Yes     x
                                                         Letter of Support from local governing official                                                             N/a     x
                                                         Letter from DCA Signature, GICH, or Community of Opportunity Communities                                    N/a     x

28 Financial Assistance                                  Letter from entity providing contribution                                                                   N/a     x
                                                         USDA Documentation                                                                                          Yes     X
                                                         Government financial support documentation                                                                  N/a     x
                                                         Docs demonstrating PHA investment in project physical plant                                                 N/a     x
                                                         Executed Owner/PHA Operating Cost Contribution Agreement (if applicable)                                    N/a     x
                                                         Notification of Award from entity providing contribution (if applicable)                                    N/a     x
                                                         Letter documenting project is under final consideration (if applicable)                                     N/a     x
                                                         Documentation of Offsite Improvement, Amenity, Facility Investment                                          N/a     x
                                                         HUD 221(d)(3) or (d)(4) documentation (if applicable)                                                       N/a     x
                                                         Third Party Contribution Pre-Application Approval                                                           N/a     x

29 Redevelopment / Revitalization Strategies             DCA Pre-Application Approval of Redevelopment Plan                                                          N/a     x
                                                         Project Characteristics Form                                                                                Yes     x
                                                         Neighborhood Revitalization Plan & evidence of adoption                                                     N/a     x
                                                         Documentation of Georgia Better HomeTown/Georgia MainStreet Community/Urban Main Street                     Yes     x
                                                         Documentation evidencing site is in QCT or DDA                                                              Yes     x
                                                         Documents showing site is in an enterprise, renewal community or empowerment zone                           Yes     x
                                                         Executed Agreement between PHA and project ownership entity for Community Building Initiative               N/a     x

30 Readiness to Proceed                                  Original Building Permits     - or -                                                                        N/a     x
                                                         Original local governing authority letter and copy of permits (if applicable) w/matching permit nbrs        Yes     x

31 Utility Allowance Documentation                       Allowance Estimation Data Sheet (if applicable and available)                                               N/a     x
                                                         Allowance Letter From Utility Provider (if applicable)                                                      N/a     x
                                                         Utility Allowance Support Documentation                                                                     Yes     x


                 Note: Additional Forms and Documentation required for the 2008 Application Submittal may be obtained on the DCA website at
                                     http://www.dca.state.ga.us/housing/HousingDevelopment/programs/QAP2008docs.asp




        2008 OAH Funding Application - March                                      Application Tabs Checklist                                                                          6 of 996
Georgia Department of Community Affairs                                         2008 Funding Application                                                        Office of Affordable Housing
                                            PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

   Please note:                    Blue-shaded cells are unlocked for your use and do not contain references/formulas.                             DCA Use Only - Project Nbr:
                                   Purple-shaded cells are unlocked for your use and do contain references/formulas that can be overwritten.               2008-020

   I.     REQUESTED RESOURCES

          LIHTC Amount                           $             850,000
          DCA HOME Amount                        $                   -

   II.    TYPE OF APPLICATION                   Competitive Round

          If "Additional Credits/Competitive Round", please also provide:
          Original DCA Project Number
          Original Award of Credits            $                    -
          Original DCA Score
          Original re-scoring requested

   III.   APPLICANT CONTACT FOR APPLICATION REVIEW

          Name                                  Mark M. du Mas                                                                        Title       President
          Address                               2730 Cumberland Boulevard                                                             Direct Line                  (770) 431-9696
          City                                  Smyrna                                                                                Fax                              (770) 431-9699
          State                                 GA                                       Zip+4           30080-3048                   Cellular                     (404) 307-9232
          Office Phone                          (770) 431-9696                            Ext.                  E-mail       mark@pacesfoundation.org
          (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)

   IV.    PROJECT LOCATION

          Project Name                          Rosewood Estates                                                                         Phased Project?           Yes - no Master Plan
          Site Street Address                   Joe Wright Drive                                                                         Scattered Site?           No
          City                                  Cordele                                       Zip+4                     31015-4115       Acreage                   39.3
          Within City Limits?                   Yes                                          County             Crisp                    Census Tract #            9802
          In USDA Rural Area?                   Yes                    HUD MSA/NonMSA name Crisp Co.                                     QCT?         Yes               DDA? No
                                                      Congressional            State Senate              State House
          Legislative Districts                           106                       13                       147
          If on boundary, other district:                 110

          Political Jurisdiction                City of Cordele, GA
          Name of Chief Elected Official        Zach H. Wade                                                       Title     Chairman
          Address                               501 North 7th Street                                               City      Cordele
          Zip+4                                 31015-4366                  Phone                (229) 273-3102                 Fax            (229) 273-6773




2008 OAH Funding Application - April                                             Part I-Project Information                                                                         7 of 996
Georgia Department of Community Affairs                                          2008 Funding Application                                     Office of Affordable Housing
                                         PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

   V.      PROJECT DESCRIPTION               (Note: Purple-shaded cells auto-fill after completion of Rent Chart in Revenues and Expenses)


        A. Type of Construction: Indicate number of units in each category that applies:
           New Construction                                             56
           Adaptive Reuse
           Acquisition/Rehab
           Substantial Rehab
           Historic Rehab

        B. Mixed Use                                                           No

        C. Buildings
           Number of Residential Buildings                                     56
           Number of Non-Residential Buildings                                 1
           Total Number of Buildings                                           57

        D. Unit Breakdown
           Number of Low Income Units                                          50        (Include manager units that are income restricted)
           Number of Market Rate Units                                         6
           Total Residential Units                                             56
           Common Space Units                                                            (no rent may be charged)
           Total Units                                                         56

        E. Unit Area
           Total Low Income Residential Square Footage                      62,242
           Total Market Rate Residential Square Footage                      7,490
           Total Residential Square Footage                                 69,732
           Total Common Space Square Footage                                 2,450
           Total Square Footage                                             72,182

        F. Rent Restricted Units                                                                  Nbr of PBRA Units
           Number of 30% Units                                                 3
           Number of 50% Units                                                 12
           Number of 60% Units                                                 35
           Other:

        G. Total Residential Parking Spaces (min 1.5 per unit)                119




2008 OAH Funding Application - April                                                Part I-Project Information                                                    8 of 996
Georgia Department of Community Affairs                                         2008 Funding Application                                                   Office of Affordable Housing
                                            PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

   VI.        TENANCY CHARACTERISTICS

           A. Family or Senior                                             Family
              If Other, please specify:
           B. Special Needs/Targeted
              Number of Special Needs/Targeted Units Reserved:                3
              Majority of Units reserved                                      No
              Will supportive services be provided to the tenants?            No           If Yes, list below:
              Description of Service                                                                               Name of Service Provider




           C. Mobility Impaired                   Nbr of Units Equipped:       3                % of Total Units     5.4%
           D. Sight/Hearing Impaired              Nbr of Units Equipped:       2                % of Total Units     3.6%


   VII.       SET ASIDES

           A. Tax Credit Only Rent and Income Election                     40% of Units at 60% of AMI
           B. DCA HOME and Tax Credit Projects Minimum Set-Aside Requirement (Rent and Income)                                 40% of Units at 50% of AMI in each building   No
              DCA HOME Only Projects Minimum Set-Aside Requirement (Rent and Income)                                           20% of Units at 50% of AMI in each building   No
           C. Other HOME and Tax Credit Projects Minimum Set-Aside Requirement (Income)                                        40% of Units at 50% of AMI in each building   No
           D. Other Set Asides
           E. Competitive Round Set-Aside(s):
              Nonprofit                                                       Yes
              CHDO                                                            No
              Rural                                                           Yes


   VIII.      GOVERNMENT FUNDING SOURCES (check all that apply)
              Tax Credits                 Yes                HUD              No
              DCA HOME                    No                 HOPE VI          No
              DCA PSH HOME                No                 FHLB/AHP         No
              Other HOME                  No                 CDBG             No
              Tax Exempt Bonds            No                 USDA 515         No
              Taxable Bonds               No                 USDA 538         Yes
              Historic Rehab Credits      No                 Other            No                      (describe)
              FHA Insured Mortgage        No                 Other            No                      (describe)




2008 OAH Funding Application - April                                                Part I-Project Information                                                                 9 of 996
Georgia Department of Community Affairs                                        2008 Funding Application                                                      Office of Affordable Housing
                                           PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

   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

   X.       AWARD LIMITATIONS FOR CURRENT DCA COMPETITIVE ROUND
            Answer the following questions on behalf of the General Partnership Entity and each of its Principals for all Applications involving them that will be submitted in the
            current DCA OAH Competitive Round:
         A. Number of Applications Submitted:                                                                            3
         B. All Applications produce a combined total of $1,750,000 or less in Federal Tax Credits?                      No
         C. Names of Projects in which the General Partnership entity and each of its principals has a direct or indirect Ownership interest:
                  1.) Galleria Manor of Smyrna                                                    5.)
                  2.) Shannon Estates                                                             6.)
                  3.) Rosewood Estates                                                            7.)
                    4.)                                                                                      8.)
         D. Names of Projects in which the General Partnership entity and each of its principals is partnering with an inexperienced unrelated entity for purposes of
            meeting DCA Experience Requirements:
                   1.) Shannon Estates                                                             5.)
                    2.)                                                                                      6.)
                    3.)                                                                                      7.)
                    4.)                                                                                      8.)


   XI.      PRESERVATION                                                                                                 No
         A. Subsequent Allocation
            Year of Original Allocation
            Original GHFA/DCA Project Number
            First Year of Credit Period
            First Building Identification Nbr in Project                                                           GA-
            Last Building Identification Nbr in Project                                                            GA-
            Expiring Tax Credit (15 Year)
            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
            USDA funded affordable nonpublic housing project                                                             No




2008 OAH Funding Application - April                                            Part I-Project Information                                                                       10 of 996
Georgia Department of Community Affairs                                        2008 Funding Application                                                 Office of Affordable Housing
                                            PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

   XII.       HOME
           A. HOME Units will be:     (Choose either Floating or Fixed)
           B. Total Number of HOME Units

   XIII.      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. Is there currently an Extention of Cancellation Option?                                            No     If yes, expiration year:
           C. Is there a Tenant Ownership Plan?                                                                  No
           D. 100% HUD PBRA                                                                                      No
           E. Is the Project Currently Occupied?                                                                 No
              Total Existing Units
              Number Occupied
              % Existing Occupied
           F. Waivers
              Per-Unit Cost Limit Waiver Approved?                                                               No      If Yes, new Limit is:
              Operating Expense Waiver Approved?                                                                 No      If Yes, new Limit is:
              Architectural Standards Enhancement Waiver Approved?                                               No
              Developer Experience Waiver Approved?                                                              No
              Energy Efficient Waiver Approved?                                                                  No
              Environmental Noise Waiver Approved?                                                               No
              Manager Experience Waiver Approved?                                                                No
              Optional Amenities Waiver Approved?                                                                No
              Owner Experience Waiver Approved?                                                                  No
              Payment & Performance Bond Waiver Approved?                                                        No
              Public Water/Sewer Requirement Waiver Approved?                                                    No
              Service Requirement Waiver Approved?                                                               No
              Target Population Project Waiver Approved?                                                         No
              3rd Party Amenities ( Off-Site Improvement / Amenities / Facilities ) Approved?                    No
              Other (specify waiver):                                                                            No
           G. Projected Place-In-Service Date
              Acquisition
              Rehab
              New Construction                                                                                December 31, 2010



2008 OAH Funding Application - April                                             Part I-Project Information                                                                11 of 996
Georgia Department of Community Affairs                                              2008 Funding Application                                      Office of Affordable Housing
                                             PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

   XIV.    APPLICANT COMMENTS AND CLARIFICATIONS                                                                       XV.   DCA COMMENTS - DCA USE ONLY
   IV. Project Location - This project is the 1st phase of a 2 phase project. We will have an additonal 4.5 acres of
   land and plan to develop a senior housing project in the future on the Phase 2 land.




2008 OAH Funding Application - April                                                  Part I-Project Information                                                      12 of 996
Georgia Department of Community Affairs                                        2008 Funding Application                                                    Office of Affordable Housing
                                          PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County




       St                             (Non)Metrop           FMR MSA                                     Tax-
       ate County Name Utility Region olitan SA   MSA?      Name          FMR MSA                       Exempt                                         MunicipalityCounty
       AL Appling      South        Appling Co.                 Appling County, GA N                    Abbeville Housing Authority                    Abbeville Wilcox
       AK Atkinson     South        Atkinson Co.                Atkinson County, GAN                    Acworth Downtown Development Authority         Acworth     Cobb
       AZ Bacon        South        Bacon Co.                   Bacon County, GA N                      Adairsville Development Authority              Adairsville Bartow
       AR Baker        South        Albany                      Albany, GA MSA      Y                   Adairsville Downtown Development Authority Adel            Cook
       CA Baldwin      Middle       Baldwin Co.                 Baldwin County, GA N                    Albany-Dougherty Inner City Authority          Adrian      Johnson
       CO Banks        North        Banks Co.                   Banks County, GA N                      Alma Downtown Development Authority            Ailey       Montgomery
       CT Barrow       Middle       Atlanta-Sandy Springs-Marietta                  Y                   Arabi Industrial Development Authority
                                                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area                                  Alamo       Wheeler
       DE Bartow       North        Atlanta-Sandy Springs-Marietta                  Y                   Arlington Housing Authority
                                                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area                                  Alapaha     Berrien
       DC Ben Hill     South        Ben Hill Co                 Ben Hill County, GA N                                                                  Albany
                                                                                                        Athens-Clarke County Downtown Development Authority Dougherty
       FL Berrien      South        Berrien Co.                 Berrien County, GA N                                                                   Aldora
                                                                                                        Atkinson County-Coffee County Joint Development Authority  Lamar
       GA Bibb         Middle       Macon                       Macon, GA MSA       Y                   Atlanta Development Authority                  Allenhurst Liberty
       HI Bleckley     South        Bleckley Co.                Bleckley County, GA N                   Augusta, Georgia Landbank Authority            Allentown Wilkinson
       ID Brantley     South        Brunswick                   Brunswick, GA MSA Y                     Bacon County Development Authority             Alma        Bacon
       IL Brooks       South        Valdosta                    Valdosta, GA MSA Y                      Banks/Habersham Counties Joint Development Alpharetta Fulton
                                                                                                                                                       Authority
       IN Bryan        South        Savannah                    Savannah, GA MSA Y                      Barnesville Housing Authority                  Alston      Montgomery
       IA Bulloch      South        Bulloch Co.                 Bulloch County, GA N                    Bartow-Cartersville Joint Development AuthorityAlto        Habersham
       KS Burke        Middle       Augusta-Richmond Co.        Augusta-Richmond County, GA-SC MSA
                                                                                    Y                   Ben Hill-Irwin Area Joint Development AuthorityAmbrose Coffee
       KY Butts        Middle                                   Butts County, GA HUD Metro FMR Area
                                    Atlanta-Sandy Springs-Marietta                  Y                   Berrien County Development Authority           Americus Sumter
       LA Calhoun      South        Calhoun Co.                 Calhoun County, GA N                    Boston Downtown Development Authority                      Sumter
                                                                                                                                                       Andersonville
       ME Camden       South        Camden Co.                  Camden County, GAN                      Bowdon Housing Authority                       Arabi       Crisp
       MD Candler      South        Candler Co.                 Candler County, GA N                    Brantley County Development Authority          Aragon      Polk
       MA Carroll      Middle       Atlanta-Sandy Springs-Marietta                  Y                   Bremen Housing Authority
                                                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area                                  Arcade      Jackson
       MI Catoosa      North        Chattanooga                 Chattanooga, TN-GAY  MSA                Brooks County Development Authority            Argyle      Clinch
       MN Charlton     South        Charlton Co.                Charlton County, GAN                                                                   Arlington Calhoun
                                                                                                        Brunswick and Glynn County Development Authority
       MS Chatham      South        Savannah                    Savannah, GA MSA Y                      Bryan County-Pembroke Development AuthorityArnoldsville Oglethorpe
       MO ChattahoocheeMiddle       Columbus                    Columbus, GA-AL MSA Y                                                                  Ashburn     Turner
                                                                                                        Butts, Henry, Lamar and Spalding County Joint Development Authority
       MT Chattooga    North        Chattooga Co.               Chattooga County, GAN                   Byron Development Authority                    Athens      Clarke
       NE Cherokee     North        Atlanta-Sandy Springs-Marietta                  Y                   Byron Downtown Development Authority
                                                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area                                  Atlanta     Fulton
       NV Clarke       Middle       Athens-Clarke Co.           Athens-Clarke County, GA MSA
                                                                                    Y                   Byron Redevelopment Authority                  Attapulgus Decatur
       NH Clay         South        Clay Co.                    Clay County, GA     N                   Calhoun Downtown Development Authority         Auburn      Barrow
       NJ Clayton      Middle       Atlanta-Sandy Springs-Marietta                  Y                   Camden County Joint Development Authority Augusta
                                                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area                                              Richmond
       NM Clinch       South        Clinch Co.                  Clinch County, GA N                     Canton Development Authority                   Austell     Cobb
       NY Cobb         North        Atlanta-Sandy Springs-Marietta                  Y                   Carrollton Redevelopment Authority
                                                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area                                  Avalon      Stephens
       NC Coffee       South        Coffee Co.                  Coffee County, GA N                     Cartersville Development Authority             Avera       Jefferson
       ND Colquitt     South        Colquitt Co.                Colquitt County, GA N                                                                              DeKalb
                                                                                                        Cartersville Downtown Development Authority Avondale Estates
       OH Columbia     Middle       Augusta-Richmond Co.        Augusta-Richmond County, GA-SC MSA
                                                                                    Y                   Catoosa County Development Authority           Baconton Mitchell
       OK Cook         South        Cook Co.                    Cook County, GA     N                   Cedartown Development Authority                Bainbridge Decatur
       OR Coweta       Middle                                   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR AreaDowntown Development Authority Baldwin
                                    Atlanta-Sandy Springs-Marietta                  Y                   Cedartown                                                  Habersham
       PA Crawford     Middle       Macon                       Macon, GA MSA       Y                   Central Georgia Joint Development Authority Ball GroundCherokee
       RI Crisp        South        Crisp Co.                   Crisp County, GA    N                                                                  Barnesville Lamar
                                                                                                        Central Savannah River Area Unified Development Authority
       SC Dade         North        Chattanooga                 Chattanooga, TN-GAY  MSA                Central Valdosta Development Authority         Bartow      Jefferson
       SD Dawson       North        Atlanta-Sandy Springs-Marietta                  Y                   Chatham-Savannah Authority for the Homeless Barwick
                                                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area                                              Thomas

2008 OAH Funding Application - April                                            Part I-Project Information                                                                      13 of 996
Georgia Department of Community Affairs                                      2008 Funding Application                                                     Office of Affordable Housing
                                       PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

       TN Decatur      South     Decatur Co.                 Decatur County, GA N                     Chattooga County Development Authority         Baxley       Appling
       TX Dekalb       Middle    Atlanta-Sandy Springs-Marietta                   Y                   Cherokee County Development Authority
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area                                   Bellville    Evans
       UT Dodge        South     Dodge Co.                   Dodge County, GA N                       City of Alpharetta Development Authority       Berkeley LakeGwinnett
       VT Dooly        South     Dooly Co.                   Dooly County, GA N                                                                      Berlin       Colquitt
                                                                                                      City of Barnesville and County of Lamar Development Authority
       VA Dougherty    South     Albany                      Albany, GA MSA       Y                   City of Cairo Development Authority            Bethlehem Barrow
       WA Douglas      Middle                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMRClaxton Downtown Development Authority
                                 Atlanta-Sandy Springs-Marietta                   Y                   City of Area                                   Between Walton
       WV Early        South     Early Co.                   Early County, GA     N                   City of Clayton Downtown Development Authority Bishop       Oconee
       WI Echols       South     Valdosta                    Valdosta, GA MSA Y                       City of Commerce Downtown Development AuthorityBlackshear Pierce
       WY Effingham    South     Savannah                    Savannah, GA MSA Y                       City of Cumming Development Authority          Blairsville Union
          Elbert       Middle    Elbert Co.                  Elbert County, GA N                      City of Dawson Development Authority           Blakely      Early
          Emanuel      South     Emanuel Co.                 Emanuel County, GAN                                                                     Bloomingdale
                                                                                                      City of Dublin and County of Laurens Development Authority  Chatham
          Evans        South     Evans Co.                   Evans County, GA N                       City of Duluth Downtown Development AuthorityBlue Ridge Fannin
          Fannin       North     Fannin Co.                  Fannin County, GA N                                                                     Bluffton
                                                                                                      City of Fayetteville Downtown Development Authority         Clay
          Fayette      Middle                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMRJesup Downtown Development AuthorityBlythe
                                 Atlanta-Sandy Springs-Marietta                   Y                   City of Area                                                Richmond
          Floyd        North     Rome                        Rome, GA MSA         Y                                                                  Bogart
                                                                                                      City of Stockbridge, Georgia Downtown Development Authority Oconee
          Forsyth      North                                                      Y                   City of Area                                   Boston
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMRSugar Hill Downtown Development Authority
                                 Atlanta-Sandy Springs-Marietta                                                                                                   Thomas
          Franklin     North     Franklin Co.                Franklin County, GA N                    City of Sylvania Downtown Development AuthorityBostwick Morgan
          Fulton       Middle                                                     Y                   City of Area                                   Bowdon
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMRWashington Downtown Development Authority
                                 Atlanta-Sandy Springs-Marietta                                                                                                   Carroll
          Gilmer       North     Gilmer Co.                  Gilmer County, GA N                      City of Willacoochee Development Authority     Bowersville Hart
          Glascock     Middle    Glascock Co.                Glascock County, GA  N                   Clay County Development Authority              Bowman Elbert
          Glynn        South     Brunswick                   Brunswick, GA MSA Y                      Clinch County Development Authority            Braselton Jackson
          Gordon       North     Gordon Co.                  Gordon County, GA N                                                                     Braswell
                                                                                                      Consolidated Housing Authority of Talbot County, Georgia Paulding
          Grady        South     Grady Co.                   Grady County, GA N                       Coweta County Development Authority            Bremen       Haralson
          Greene       Middle    Greene Co.                  Greene County, GA N                                                                      Authority Decatur
                                                                                                      Coweta, Fayette, Meriwether Joint DevelopmentBrinson
          Gwinnett     Middle                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Joint Development Authority
                                 Atlanta-Sandy Springs-Marietta                   Y                   Crisp-Dooly                                    Bronwood Terrell
          Habersham    North     Habersham Co.               Habersham County, GA N                   Dahlonega Downtown Development Authority Brooklet           Bulloch
          Hall         North     Gainesville                 Gainesville, GA MSAY                     Development Authority for the City of SavannahBrooks        Fayette
          Hancock      Middle    Hancock Co.                 Hancock County, GAN                      Development Authority of Appling County        Broxton      Coffee
          Haralson     North     Haralson Co.                Haralson County, GAY  HUD Metro FMR Area Development Authority of Atkinson County       Brunswick Glynn
          Harris       Middle    Columbus                    Columbus, GA-AL MSA  Y                                                                  Buchanan
                                                                                                      Development Authority of Bainbridge and Decatur County Haralson
          Hart         Middle    Hart Co.                    Hart County, GA      N                   Development Authority of Baker County          Buckhead Morgan
          Heard        Middle                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Authority of Banks County
                                 Atlanta-Sandy Springs-Marietta                   Y                   Development                                    Buena VistaMarion
          Henry        Middle                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Authority of Bartow County
                                 Atlanta-Sandy Springs-Marietta                   Y                   Development                                    Buford       Gwinnett
          Houston      Middle    Warner Robins               Warner Robins, GA MSAY                   Development Authority of Ben Hill County       Butler       Taylor
          Irwin        South     Irwin Co.                   Irwin County, GA     N                   Development Authority of Bibb County           Byromville Dooly
          Jackson      Middle    Jackson Co.                 Jackson County, GA N                     Development Authority of Brooks County, GeorgiaByron        Peach
          Jasper       Middle                                Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Authority of Bulloch County
                                 Atlanta-Sandy Springs-Marietta                   Y                   Development                                    Cadwell      Laurens
          Jeff Davis   South     Jeff Davis Co.              Jeff Davis County, GAN                   Development Authority of Burke County          Cairo        Grady
          Jefferson    Middle    Jefferson Co.               Jefferson County, GA N                   Development Authority of Butts County          Calhoun      Gordon
          Jenkins      South     Jenkins Co.                 Jenkins County, GA N                     Development Authority of Carroll County        Camak        Warren
          Johnson      South     Johnson Co.                 Johnson County, GAN                      Development Authority of Cartersville          Camilla      Mitchell
          Jones        Middle    Macon                       Macon, GA MSA        Y                   Development Authority of Catoosa County        Canon        Franklin
          Lamar        Middle    Lamar Co.                   Lamar County, GA HUD Metro FMR Area Development Authority of Chattooga County
                                                                                  Y                                                                  Canton       Cherokee
          Lanier       South     Valdosta                    Valdosta, GA MSA Y                       Development Authority of Cherokee County       Carl         Barrow
          Laurens      South     Laurens Co.                 Laurens County, GA N                                                                    C
                                                                                                      Development Authority of City of Edison, Georgia arlton     Madison
          Lee          South     Albany                      Albany, GA MSA       Y                   Development Authority of Clayton County        Carnesville Franklin
          Liberty      South     Hinesville-Fort Stewart     Hinesville-Fort Stewart, GA HUD Metro FMRDevelopment Authority of Cobb County
                                                                                  Y                   Area                                           Carrollton Carroll
          Lincoln      Middle    Lincoln Co.                 Lincoln County, GA N                     Development Authority of Columbia County       Cartersville Bartow


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                                        PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

          Long         South     Long Co.                    Long County, GA HUD Metro FMR Area
                                                                                  Y                  Development     Authority of Columbus, Georgia Cave SpringFloyd
          Lowndes      South     Valdosta                    Valdosta, GA MSA Y                      Development     Authority of Conyers, Georgia      Cecil        Cook
          Lumpkin      North     Lumpkin Co.                 Lumpkin County, GAN                     Development     Authority of Coweta County         Cedartown Polk
          Macon        Middle    Macon Co.                   Macon County, GA N                      Development     Authority of Crawford County       Centerville Houston
          Madison      Middle    Athens-Clarke Co.           Athens-Clarke County, GA MSA
                                                                                  Y                  Development     Authority of Crisp County          Centralhatchee
                                                                                                                                                                     Heard
          Marion       Middle    Columbus                    Columbus, GA-AL MSA  Y                  Development     Authority of Dawson County         Chamblee DeKalb
          McDuffie     Middle    Augusta-Richmond Co.        Augusta-Richmond County, GA-SC MSA
                                                                                  Y                  Development     Authority of DeKalb County         Chatsworth Murray
          McIntosh     South     Brunswick                   Brunswick, GA MSA Y                     Development     Authority of Dougherty County      Chauncey Dodge
          Meriwether   Middle    Meriwether Co.              Meriwether County, GA HUD Metro FMR Area
                                                                                  Y                  Development     Authority of Douglas County        Chester      Dodge
          Miller       South     Miller Co.                  Miller County, GA   N                   Development     Authority of Early County          Chickamauga  Walker
          Mitchell     South     Mitchell Co.                Mitchell County, GA N                   Development     Authority of Effingham County      Clarkesville Habersham
          Monroe       Middle    Monroe Co.                  Monroe County, GA HUD Metro FMR Area Development
                                                                                  Y                                                                     Clarkston DeKalb
                                                                                                                     Authority of Elbert County, Elberton and Bowman
          Montgomery   South     Montgomery Co.              Montgomery County, N GA                 Development     Authority of Emanuel County        Claxton      Evans
          Morgan       Middle    Morgan Co.                  Morgan County, GA N                     Development                                        Clayton      Rabun
                                                                                                                     Authority of Emanuel County and the City of Swainsboro
          Murray       North     Murray Co.                  Murray County, GA HUD Metro FMR Area Development
                                                                                  Y                                  Authority of Fairburn              Clermont Hall
          Muscogee     Middle    Columbus                    Columbus, GA-AL MSA  Y                  Development     Authority of Floyd County          Cleveland White
          Newton       Middle    Atlanta-Sandy Springs-Marietta
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                  Development     Authority of Forsyth County        Climax       Decatur
          Oconee       Middle    Athens-Clarke Co.           Athens-Clarke County, GA MSA
                                                                                  Y                  Development     Authority of Fulton County         Cobbtown Tattnall
          Oglethorpe   Middle    Athens-Clarke Co.           Athens-Clarke County, GA MSA
                                                                                  Y                  Development     Authority of Gordon County         Cochran      Bleckley
          Paulding     North     Atlanta-Sandy Springs-Marietta
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                  Development     Authority of Gwinnett County       Cohutta      Whitfield
          Peach        Middle    Peach Co.                   Peach County, GA N                      Development     Authority of Haralson County       Colbert      Madison
          Pickens      North     Atlanta-Sandy Springs-Marietta                   Y                  Development
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area   Authority of Harris County         Coleman Randolph
          Pierce       South     Pierce Co.                  Pierce County, GA N                     Development     Authority of Heard County                       F
                                                                                                                                                        College Park ulton
          Pike         Middle    Atlanta-Sandy Springs-Marietta
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                  Development     Authority of Houston County        Collins      Tattnall
          Polk         North     Polk Co.                    Polk County, GA     N                   Development     Authority of Jasper County         Colquitt     Miller
          Pulaski      South     Pulaski Co.                 Pulaski County, GA N                    Development     Authority of Jefferson County      Columbus Muscogee
          Putnam       Middle    Putnam Co.                  Putnam County, GA N                     Development     Authority of Jefferson, Georgia Comer           Madison
          Quitman      South     Quitman Co.                 Quitman County, GAN                     Development     Authority of Jenkins County        Commerce Jackson
          Rabun        North     Rabun Co.                   Rabun County, GA N                      Development                                        Concord
                                                                                                                     Authority of Johnson County, Georgia            Pike
          Randolph     South     Randolph Co.                Randolph County, GA N                   Development     Authority of Jones County          Conyers      Rockdale
          Richmond     Middle    Augusta-Richmond Co.        Augusta-Richmond County, GA-SC MSA
                                                                                  Y                  Development     Authority of LaFayette             Coolidge Thomas
          Rockdale     Middle    Atlanta-Sandy Springs-Marietta
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                  Development     Authority of LaGrange              Cordele      Crisp
          Schley       Middle    Schley Co.                  Schley County, GA N                     Development     Authority of Lanier County         Cornelia     Habersham
          Screven      South     Screven Co.                 Screven County, GA N                    Development     Authority of Lawrenceville, GA     Covington Newton
          Seminole     South     Seminole Co.                Seminole County, GA N                   Development     Authority of Lee County            Crawford Oglethorpe
          Spalding     Middle    Atlanta-Sandy Springs-Marietta
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                  Development     Authority of Lumpkin County        Crawfordville aliaferro
                                                                                                                                                                     T
          Stephens     North     Stephens Co.                Stephens County, GA N                   Development     Authority of Macon County          Culloden Monroe
          Stewart      South     Stewart Co.                 Stewart County, GA N                    Development     Authority of McDuffie County       Cumming Forsyth
          Sumter       South     Sumter Co.                  Sumter County, GA N                     Development                                        Cusseta      Chattahoochee
                                                                                                                     Authority of McDuffie County and the City of Thomson
          Talbot       Middle    Talbot Co.                  Talbot County, GA N                     Development     Authority of Mitchell County       Cuthbert Randolph
          Taliaferro   Middle    Taliaferro Co.              Taliaferro County, GA
                                                                                 N                   Development     Authority of Monroe County         Dacula       Gwinnett
          Tattnall     South     Tattnall Co.                Tattnall County, GA N                   Development     Authority of Morgan County         Dahlonega Lumpkin
          Taylor       Middle    Taylor Co.                  Taylor County, GA N                     Development     Authority of Palmetto              Daisy        Evans
          Telfair      South     Telfair Co.                 Telfair County, GA N                    Development     Authority of Peach County          Dallas       Paulding
          Terrell      South     Albany                      Albany, GA MSA       Y                  Development     Authority of Peachtree City        Dalton       Whitfield
          Thomas       South     Thomas Co.                  Thomas County, GA N                     Development     Authority of Pike County           Damascus Early
          Tift         South     Tift Co.                    Tift County, GA     N                   Development     Authority of Polk County           Danielsville Madison
          Toombs       South     Toombs Co.                  Toombs County, GA N                     Development     Authority of Rabun County          Danville     Wilkinson


2008 OAH Funding Application - April                                            Part I-Project Information                                                                           15 of 996
Georgia Department of Community Affairs                                        2008 Funding Application                                                Office of Affordable Housing
                                        PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

          Towns        North     Towns Co.                   Towns County, GA N                                Authority of Richmond County
                                                                                                     Development                                    Darien       McIntosh
          Treutlen     South     Treutlen Co.                Treutlen County, GA N                             Authority of Rockdale County
                                                                                                     Development                                    Dasher       Lowndes
          Troup        Middle    Troup Co.                   Troup County, GA N                                Authority of Screven County
                                                                                                     Development                                    Davisboro Washington
          Turner       South     Turner Co.                  Turner County, GA N                               Authority of Seminole County and Dawson
                                                                                                     Development                                    DonalsonvilleTerrell
          Twiggs       Middle    Macon                       Macon, GA MSA       Y                             Authority of St. Marys
                                                                                                     Development                                    DawsonvilleDawson
          Union        North     Union Co.                   Union County, GA N                                Authority of Talbot County
                                                                                                     Development                                    Dearing      McDuffie
          Upson        Middle    Upson Co.                   Upson County, GA N                                Authority of Telfair County
                                                                                                     Development                                    Decatur      DeKalb
          Walker       North     Chattanooga                 Chattanooga, TN-GAY  MSA                          Authority of the City of Americus Deepstep Washington
                                                                                                     Development
          Walton       Middle    Atlanta-Sandy Springs-Marietta                  Y                             Authority of the City of Bowdon Demorest Habersham
                                                                                                     Development
                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
          Ware         South     Ware Co.                    Ware County, GA N                                 Authority of the City of Dalton
                                                                                                     Development                                    Denton       Jeff Davis
          Warren       Middle    Warren Co.                  Warren County, GA N                     Development                                    DeSoto       Sumter
                                                                                                               Authority of the City of Folkston and Charlton County
          Washington   South     Washington Co.              Washington County, NGA                            Authority of the City of Homeland Dexter
                                                                                                     Development                                                 Laurens
          Wayne        South     Wayne Co.                   Wayne County, GA N                                Authority of the City of Jasper
                                                                                                     Development                                    Dillard      Rabun
          Webster      South     Webster Co.                 Webster County, GA N                    Development                                    Doerun       Colquitt
                                                                                                               Authority of the City of Jeffersonville and Twiggs County
          Wheeler      South     Wheeler Co.                 Wheeler County, GA N                                                                                S
                                                                                                               Authority of the City of Marietta Donalsonvilleeminole
                                                                                                     Development
          White        North     White Co.                   White County, GA N                      Development                                    Dooling      Dooly
                                                                                                               Authority of the City of Milledgeville and Baldwin County
          Whitfield    North     Dalton                                          Y
                                                             Dalton, GA HUD Metro FMR Area                     Authority of the City of Newnan Doraville DeKalb
                                                                                                     Development
          Wilcox       South     Wilcox Co.                  Wilcox County, GA N                               Authority of the City of Oakwood Douglas
                                                                                                     Development                                                 Coffee
          Wilkes       Middle    Wilkes Co.                  Wilkes County, GA N                               Authority of the City of Roswell DouglasvilleDouglas
                                                                                                     Development
          Wilkinson    Middle    Wilkinson Co.               Wilkinson County, GAN                   Development
                                                                                                               Authority of the City of Vienna      Dublin       Laurens
          Worth        South     Albany                      Albany, GA MSA      Y                   Development                                    Dudley       Laurens
                                                                                                               Authority of the Unified Government of Athens-Clarke County, Georgia
                                                                                                   Development Authority of Tift County             Duluth       Gwinnett
                                                                                                   Development Authority of Union County            DuPont       Clinch
                                                                                                   Development Authority of Vidalia                 East Dublin Laurens
                                                                                                   Development Authority of Walton County           East Ellijay Gilmer
                                                                                                   Development Authority of Warner Robins           East Point Fulton
                                                                                                   Development Authority of Warren County           Eastman Dodge
                                                                                                   Development Authority of Washington County Eatonton Putnam
                                                                                                   Development Authority of Wheeler County          Edgehill     Glascock
                                                                                                   Development Authority of White County            Edison       Calhoun
                                                                                                   Development Authority of Whitfield County        Elberton     Elbert
                                                                                                   Development Authority of Wilkinson County        Ellaville    Schley
                                                                                                   Downtown Athens Development Authority            Ellenton     Colquitt
                                                                                                   Downtown Camilla Development Authority           Ellijay      Gilmer
                                                                                                   Downtown Dalton Development Authority            Emerson Bartow
                                                                                                   Downtown Development Authority for the City ofEnigma City
                                                                                                                                                     Garden      Berrien
                                                                                                   Downtown Development Authority for the City ofEphesusGeorgia
                                                                                                                                                     Hahira,     Heard
                                                                                                   Downtown Development Authority for the City ofEtonSavannah Murray
                                                                                                   Downtown Development Authority for the City ofEuharleeRobins
                                                                                                                                                     Warner      Bartow
                                                                                                   Downtown Development Authority of Adel, Georgia  Fairburn     Fulton
                                                                                                   Downtown Development Authority of Albany, GeorgiaFairmount Gordon
                                                                                                                                                    Fargo
                                                                                                   Downtown Development Authority of Augusta-Richmond County     Clinch
                                                                                                   Downtown Development Authority of Austell        Fayetteville Fayette
                                                                                                                                                    Fitzgerald Ben Hill
                                                                                                   Downtown Development Authority of Avondale Estates
                                                                                                   Downtown Development Authority of BarnesvilleFlemington Liberty
                                                                                                   Downtown Development Authority of Baxley         Flovilla     Butts
                                                                                                   Downtown Development Authority of Bremen Flowery Branch       Hall
                                                                                                   Downtown Development Authority of Brunswick Folkston Charlton


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                                       PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                                                      Downtown Development Authority of CentervilleForest Park Clayton
                                                                                      Downtown Development Authority of Chatsworth  Forsyth     Monroe
                                                                                      Downtown Development Authority of Columbus,Fort GainesClay
                                                                                                                                     Georgia
                                                                                      Downtown Development Authority of Cordele Fort Oglethorpe Catoosa
                                                                                                                                    Fort Valley Peach
                                                                                      Downtown Development Authority of Cuthbert, Georgia
                                                                                      Downtown Development Authority of Douglas Franklin        Heard
                                                                                                                                                Franklin
                                                                                      Downtown Development Authority of Fairburn Franklin Springs
                                                                                      Downtown Development Authority of Fitzgerald Funston      Colquitt
                                                                                      Downtown Development Authority of Forsyth Gainesville Hall
                                                                                                                                    Garden CityChatham
                                                                                      Downtown Development Authority of Fort Gaines, Georgia
                                                                                      Downtown Development Authority of Hampton Garfield        Emanuel
                                                                                                                                    Gay
                                                                                      Downtown Development Authority of Hartwell, Georgia       Meriwether
                                                                                      Downtown Development Authority of Hinesville, Geneva
                                                                                                                                    Georgia     Talbot
                                                                                                                                    GeorgetownQuitman
                                                                                      Downtown Development Authority of Holly Springs
                                                                                                                                    Gibson
                                                                                      Downtown Development Authority of Lawrenceville, GA       Glascock
                                                                                      Downtown Development Authority of Madison Gillsville      Hall
                                                                                      Downtown Development Authority of Maysville Girard        Burke
                                                                                                                                    Glennville Tattnall
                                                                                      Downtown Development Authority of Millen, Georgia
                                                                                      Downtown Development Authority of Monticello,Glenwood Wheeler
                                                                                                                                     Georgia
                                                                                      Downtown Development Authority of Moultrie Good Hope Walton
                                                                                                                                    Gordon
                                                                                      Downtown Development Authority of Pitts, Georgia          Wilkinson
                                                                                      Downtown Development Authority of Smyrna Graham           Appling
                                                                                                                                    Grantville Coweta
                                                                                      Downtown Development Authority of Snellville, Georgia
                                                                                                                                    Gray
                                                                                      Downtown Development Authority of Social Circle           Jones
                                                                                      Downtown Development Authority of the City of Grayson
                                                                                                                                    Atlanta     Gwinnett
                                                                                      Downtown Development Authority of the City of GreensboroGreene
                                                                                                                                    Baconton
                                                                                      Downtown Development Authority of the City of Greenville Meriwether
                                                                                                                                    Buford
                                                                                                                                                Spalding
                                                                                      Downtown Development Authority of the City of Griffin Georgia
                                                                                                                                    Canton,
                                                                                      Downtown Development Authority of the City of Grovetown Columbia
                                                                                                                                    Dallas, Georgia
                                                                                      Downtown Development Authority of the City of Gum Branch
                                                                                                                                    Darien      Liberty
                                                                                      Downtown Development Authority of the City of Guyton
                                                                                                                                    Dawson      Effingham
                                                                                      Downtown Development Authority of the City of Hagan
                                                                                                                                    Decatur     Evans
                                                                                                                                    DouglasvilleLowndes
                                                                                      Downtown Development Authority of the City of Hahira
                                                                                      Downtown Development Authority of the City of Hamilton Harris
                                                                                                                                    Greensboro
                                                                                      Downtown Development Authority of the City of Hampton Henry
                                                                                                                                    Jackson
                                                                                      Downtown Development Authority of the City of Hapeville Fulton
                                                                                                                                    LaFayette
                                                                                      Downtown Development Authority of the City of Haralson Coweta
                                                                                                                                    LaGrange
                                                                                      Downtown Development Authority of the City of Harlem Grove
                                                                                                                                    Locust      Columbia
                                                                                      Downtown Development Authority of the City of Harrison Washington
                                                                                                                                    Monroe
                                                                                                                                                Hart
                                                                                      Downtown Development Authority of the City of Hartwell Georgia
                                                                                                                                    Morrow,
                                                                                      Downtown Development Authority of the City of HawkinsvillePulaski
                                                                                                                                    Newnan, Georgia
                                                                                      Downtown Development Authority of the City of Hazlehurst Jeff Davis
                                                                                                                                    Norcross
                                                                                      Downtown Development Authority of the City of Helen
                                                                                                                                    Perry       White
                                                                                                                                    Richland, Telfair
                                                                                      Downtown Development Authority of the City of Helena Georgia
                                                                                      Downtown Development Authority of the City of Hephzibah Richmond
                                                                                                                                    Rome
                                                                                      Downtown Development Authority of the City of Hiawassee Towns
                                                                                                                                    Rossville
                                                                                      Downtown Development Authority of the City of Higgston Montgomery
                                                                                                                                    Roswell
                                                                                      Downtown Development Authority of the City of Hiltonia
                                                                                                                                    Royston     Screven


2008 OAH Funding Application - April                                 Part I-Project Information                                                              17 of 996
Georgia Department of Community Affairs                             2008 Funding Application                                              Office of Affordable Housing
                                       PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                                                      Downtown Development Authority of the City of Hinesville Liberty
                                                                                                                                     Senoia
                                                                                                                                     Smithville Paulding
                                                                                      Downtown Development Authority of the City of Hiram
                                                                                      Downtown Development Authority of the City of Hoboken Brantley
                                                                                                                                     Tallapoosa
                                                                                      Downtown Development Authority of the City of Hogansville Troup
                                                                                                                                     Thomson
                                                                                                                                                 C
                                                                                      Downtown Development Authority of the City of Holly Springs herokee
                                                                                                                                     Tifton
                                                                                      Downtown Development Authority of the City of Homeland Charlton
                                                                                                                                     Unadilla
                                                                                      Downtown Development Authority of the City of Homer
                                                                                                                                     Vienna      Banks
                                                                                      Downtown Development Authority of the City of Homerville Clinch
                                                                                                                                     Warrenton
                                                                                      Downtown Development Authority of the City of Hoschton Jackson
                                                                                                                                     Warwick
                                                                                      Downtown Development Authority of the City of Hull
                                                                                                                                     Zebulon     Madison
                                                                                                                                     Ideal       Macon
                                                                                      Downtown Development Authority of the Mayor and City Council of Americus
                                                                                      Downtown Development Authority of Toccoa Ila               Madison
                                                                                      Downtown Development Authority of Woodbury Iron City       Seminole
                                                                                      Downtown Development Authority of Woodstock    Irwinton    Wilkinson
                                                                                                                                     Ivey
                                                                                      Downtown Development Authority, City of Forest Park        Wilkinson
                                                                                      Downtown LaGrange Development Authority Jackson            Butts
                                                                                      Downtown Marietta Development Authority        JacksonvilleTelfair
                                                                                      Downtown Savannah Authority                    Jakin       Early
                                                                                      Downtown Statesboro Development Authority Jasper           Pickens
                                                                                      Downtown Waycross Development Authority Jefferson Jackson
                                                                                                                                                 T
                                                                                      Dublin-Laurens County Development Authority Jeffersonville wiggs
                                                                                                                                     JenkinsburgButts
                                                                                      Elbert County Richard B. Russell Development Authority
                                                                                                                                     Jersey
                                                                                      Elberton Downtown Development Authority d/b/a MainStreetWalton
                                                                                                                                                  Elberton
                                                                                      Emanuel County Development Authority           Jesup       Wayne
                                                                                      Emanuel-Johnson County Development Authority   Jonesboro Clayton
                                                                                                                                                 T
                                                                                      Etowah Area Consolidated Housing Authority Junction City albot
                                                                                      Fairburn Housing Authority                     Kennesaw Cobb
                                                                                      Fall Line Regional Development Authority       Keysville Burke
                                                                                      Fayette County Development Authority           Kingsland Camden
                                                                                                                                     Kingston Bartow
                                                                                      Fitzgerald/Ben Hill County Development Authority
                                                                                      Flint Area Consolidated Housing Authority      Kite        Johnson
                                                                                      Fort Oglethorpe Downtown Development Authority LaFayette Walker
                                                                                      Fort Valley Downtown Development Authority LaGrange Troup
                                                                                                                                     Lake City Clayton
                                                                                      Fulton County/City of Atlanta Land Bank Authority, Inc.
                                                                                                                                     Lake
                                                                                      Gainesville and Hall County Development Authority Park Lowndes
                                                                                      Gainesville Redevelopment Authority            Lakeland Lanier
                                                                                      Georgia Bioscience Joint Development Authority Lavonia     Franklin
                                                                                      Gibson Housing Authority                                   Gwinnett
                                                                                                                                     Lawrenceville
                                                                                      Glennville Development Authority               Leary       Calhoun
                                                                                      Glennville Downtown Development Authority Leesburg Lee
                                                                                                                                     Lenox
                                                                                      Gordon County - Floyd County Development Authority         Cook
                                                                                      Gordon Downtown Development Authority          Leslie      Sumter
                                                                                      Grady County Joint Development Authority       Lexington Oglethorpe
                                                                                      Greene County Development Authority            Lilburn     Gwinnett
                                                                                      Griffin-Spalding County Development Authority Lilly        Dooly
                                                                                      Habersham County Development Authority         Lincolnton Lincoln
                                                                                      Hapeville Development Authority                Lithonia    DeKalb
                                                                                      Hawkinsville Downtown Development Authority Locust Grove   Henry


2008 OAH Funding Application - April                                 Part I-Project Information                                                                  18 of 996
Georgia Department of Community Affairs                             2008 Funding Application                                                   Office of Affordable Housing
                                       PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                                                      Hawkinsville Housing Authority                   Loganville Walton
                                                                                      Hazlehurst Downtown Development Authority Lone Oak Meriwether
                                                                                      Henry County Development Authority                             Walker
                                                                                                                                       Lookout Mountain
                                                                                      Hogansville Development Authority                Louisville Jefferson
                                                                                      Housing Authority City of Sylvester, GA          Lovejoy       Clayton
                                                                                      Housing Authority of City of Carrollton          Ludowici Long
                                                                                      Housing Authority of City of Danielsville        Lula          Hall
                                                                                      Housing Authority of Clayton County              Lumber CityTelfair
                                                                                      Housing Authority of Cobb County                 Lumpkin       Stewart
                                                                                      Housing Authority of Columbus, Georgia           Luthersville Meriwether
                                                                                      Housing Authority of Fulton County               Lyerly        Chattooga
                                                                                      Housing Authority of Gwinnett County             Lyons         Toombs
                                                                                      Housing Authority of Lee County                  Macon         Bibb
                                                                                      Housing Authority of Savannah                    Madison       Morgan
                                                                                      Housing Authority of Screven County              Manassas Tattnall
                                                                                      Housing Authority of the City of Acworth         ManchesterMeriwether
                                                                                      Housing Authority of the City of Adel, Georgia Mansfield Newton
                                                                                      Housing Authority of the City of Alamo           Marietta      Cobb
                                                                                      Housing Authority of the City of Albany          Marshallville Macon
                                                                                      Housing Authority of the City of Ashburn         Martin        Stephens
                                                                                      Housing Authority of the City of Athens, GeorgiaMaxeys         Oglethorpe
                                                                                      Housing Authority of the City of Augusta, GeorgiaMaysville Banks
                                                                                      Housing Authority of the City of Bainbridge      McCaysvilleFannin
                                                                                      Housing Authority of the City of Baxley          McDonoughHenry
                                                                                      Housing Authority of the City of Blackshear      McIntyre Wilkinson
                                                                                      Housing Authority of the City of Blakely, GeorgiaMcRae         Telfair
                                                                                      Housing Authority of the City of Buford, GeorgiaMeansville Pike
                                                                                      Housing Authority of the City of Cairo, Georgia Meigs          Thomas
                                                                                      Housing Authority of the City of Calhoun         Menlo         Chattooga
                                                                                      Housing Authority of the City of Camilla         Metter        Candler
                                                                                      Housing Authority of the City of Canton          Midville      Burke
                                                                                      Housing Authority of the City of Cave Spring     Midway        Liberty
                                                                                      Housing Authority of the City of Cedartown, Ga. Milan          Telfair
                                                                                                                                       M
                                                                                      Housing Authority of the City of Clarkesville, Ga. illedgevilleBaldwin
                                                                                      Housing Authority of the City of Clarkston       Millen        Jenkins
                                                                                      Housing Authority of the City of Clayton, GeorgiaMilner        Lamar
                                                                                      Housing Authority of the City of Cleveland, Ga. Mitchell       Glascock
                                                                                      Housing Authority of the City of College Park Molena           Pike
                                                                                      Housing Authority of the City of Colquitt        Monroe        Walton
                                                                                      Housing Authority of the City of Conyers         MontezumaMacon
                                                                                      Housing Authority of the City of Cornelia, Ga. Monticello Jasper
                                                                                      Housing Authority of the City of Covington       Montrose Laurens
                                                                                      Housing Authority of the City of Crawfordville Moreland Coweta
                                                                                      Housing Authority of the City of Cumming         Morgan        Calhoun
                                                                                      Housing Authority of the City of Cuthbert, GA Morganton Fannin
                                                                                      Housing Authority of the City of Dahlonega       Morrow        Clayton
                                                                                      Housing Authority of the City of Dawson          Morven        Brooks
                                                                                                                                       M
                                                                                      Housing Authority of the City of Decatur, Georgia oultrie      Colquitt


2008 OAH Funding Application - April                                 Part I-Project Information                                                                   19 of 996
Georgia Department of Community Affairs                             2008 Funding Application                                                 Office of Affordable Housing
                                       PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                                                      Housing Authority of the City of Doerun, Georgia  Mount Airy Habersham
                                                                                      Housing Authority of the City of Dublin, Georgia Mount Vernon Montgomery
                                                                                                                                        Mount
                                                                                      Housing Authority of the City of East Point, Georgia Zion Carroll
                                                                                      Housing Authority of the City of Eastman                      Rabun
                                                                                                                                        Mountain City
                                                                                      Housing Authority of the City of Eatonton                     Fulton
                                                                                                                                        Mountain Park
                                                                                      Housing Authority of the City of Edison, GA.      Nahunta     Brantley
                                                                                      Housing Authority of the City of Ellaville        Nashville Berrien
                                                                                      Housing Authority of the City of Ellijay, Georgia Nelson      Pickens
                                                                                      Housing Authority of the City of Fitzgerald       Newborn Newton
                                                                                      Housing Authority of the City of Forsyth          Newington Screven
                                                                                      Housing Authority of the City of Fort Gaines      Newnan      Coweta
                                                                                                                                         Georgia Baker
                                                                                      Housing Authority of the City of Fort Oglethorpe,Newton
                                                                                      Housing Authority of the City of Fort Valley      Nicholls    Coffee
                                                                                      Housing Authority of the City of Gainesville      Nicholson Jackson
                                                                                      Housing Authority of the City of Glennville       Norcross Gwinnett
                                                                                      Housing Authority of the City of Glenwood                     C
                                                                                                                                        Norman Park olquitt
                                                                                      Housing Authority of the City of Grantville                   Oconee
                                                                                                                                        North High Shoals
                                                                                                                                        Norwood Warren
                                                                                      Housing Authority of the City of Greensboro, Georgia
                                                                                      Housing Authority of the City of Griffin          Nunez       Emanuel
                                                                                      Housing Authority of the City of Hahira, GeorgiaOak Park Emanuel
                                                                                      Housing Authority of the City of Hampton, Georgia Oakwood Hall
                                                                                      Housing Authority of the City of Harlem, Georgia  OchlockneeThomas
                                                                                      Housing Authority of the City of Hartwell         Ocilla      Irwin
                                                                                      Housing Authority of the City of Hinesville, Ga Oconee        Washington
                                                                                      Housing Authority of the City of Hogansville      Odum        Wayne
                                                                                      Housing Authority of the City of Jasper           Offerman Pierce
                                                                                      Housing Authority of the City of Jefferson        Oglethorpe Macon
                                                                                      Housing Authority of the City of Jesup            Oliver      Screven
                                                                                      Housing Authority of the City of Lakeland, GeorgiaOmega       Tift
                                                                                      Housing Authority of the City of Lavonia          Orchard HillSpalding
                                                                                      Housing Authority of the City of Lawrenceville, GAOxford      Newton
                                                                                                                                        P
                                                                                      Housing Authority of the City of Lithonia, Georgia almetto Fulton
                                                                                      Housing Authority of the City of Loganville, GA Parrott       Terrell
                                                                                      Housing Authority of the City of Louisville       Patterson Pierce
                                                                                      Housing Authority of the City of Macon, GeorgiaPavo           Thomas
                                                                                      Housing Authority of the City of Madison, GA Payne City Bibb
                                                                                      Housing Authority of the City of Marietta                     Fayette
                                                                                                                                        Peachtree City
                                                                                      Housing Authority of the City of McDonough        Pearson     Atkinson
                                                                                      Housing Authority of the City of Menlo, Georgia Pelham        Mitchell
                                                                                      Housing Authority of the City of Metter           Pembroke Bryan
                                                                                                                                        Pendergrass
                                                                                      Housing Authority of the City of Milledgeville and Sparta     Jackson
                                                                                      Housing Authority of the City of Millen           Perry       Houston
                                                                                      Housing Authority of the City of Monroe, GA       Pine Lake DeKalb
                                                                                      Housing Authority of the City of Monticello                   Harris
                                                                                                                                        Pine Mountain
                                                                                                                                        P
                                                                                      Housing Authority of the City of Moultrie, Georgia inehurst Dooly
                                                                                      Housing Authority of the City of Mt. Vernon       Pineview Wilcox
                                                                                      Housing Authority of the City of Nahunta          Pitts       Wilcox
                                                                                                                                        Plains
                                                                                      Housing Authority of the City of Nashville, Georgia           Sumter


2008 OAH Funding Application - April                                 Part I-Project Information                                                                  20 of 996
Georgia Department of Community Affairs                             2008 Funding Application                                               Office of Affordable Housing
                                       PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                                                      Housing Authority of the City of Oakwood, GeorgiaPlainville Gordon
                                                                                      Housing Authority of the City of Ocilla, Ga      Pooler      Chatham
                                                                                                                                       Port
                                                                                      Housing Authority of the City of Pearson, Georgia Wentworth  Chatham
                                                                                      Housing Authority of the City of Perry, Georgia Portal       Bulloch
                                                                                      Housing Authority of the City of Quitman         Porterdale Newton
                                                                                      Housing Authority of the City of Ringgold        Poulan      Worth
                                                                                      Housing Authority of the City of Roberta, GA. Powder Springs Cobb
                                                                                      Housing Authority of the City of Roswell         Preston     Webster
                                                                                      Housing Authority of the City of Royston         Pulaski     Candler
                                                                                      Housing Authority of the City of Sandersville    Quitman     Brooks
                                                                                      Housing Authority of the City of Senoia          Ranger      Gordon
                                                                                      Housing Authority of the City of Shellman        Ray City    Berrien
                                                                                                                                       Rayle
                                                                                      Housing Authority of the City of Social Circle, GA           Wilkes
                                                                                      Housing Authority of the City of Soperton        Rebecca Turner
                                                                                      Housing Authority of the City of Statesboro      Register    Bulloch
                                                                                      Housing Authority of the City of Summerville     Reidsville Tattnall
                                                                                      Housing Authority of the City of Swainsboro      Remerton Lowndes
                                                                                      Housing Authority of the City of Sylvania        Rentz       Laurens
                                                                                                                                       Resaca
                                                                                      Housing Authority of the City of Tallapoosa, Georgia         Gordon
                                                                                      Housing Authority of the City of Thomaston       Rest HavenGwinnett
                                                                                                                                       Reynolds Taylor
                                                                                      Housing Authority of the City of Thomasville, Georgia
                                                                                      Housing Authority of the City of Thomson, GeorgiaRhine       Dodge
                                                                                      Housing Authority of the City of Tifton, Georgia Riceboro Liberty
                                                                                      Housing Authority of the City of Toccoa, Ga.     Richland Stewart
                                                                                      Housing Authority of the City of Vidalia                     Bryan
                                                                                                                                       Richmond Hill
                                                                                      Housing Authority of the City of Vienna          Riddleville Washington
                                                                                      Housing Authority of the City of Warner Robins, Rincon
                                                                                                                                        Georgia    Effingham
                                                                                      Housing Authority of the City of Warrenton       Ringgold Catoosa
                                                                                      Housing Authority of the City of Waycross        Riverdale Clayton
                                                                                      Housing Authority of the City of Waynesboro Riverside Colquitt
                                                                                      Housing Authority of the City of West Point      Roberta     Crawford
                                                                                      Housing Authority of the City of Winder          Rochelle Wilcox
                                                                                                                                       Rockmart Polk
                                                                                      Housing Authority of the City of Woodbury, Georgia
                                                                                      Housing Authority of the City of Wrightsville    Rocky Ford Screven
                                                                                                                                       Rome
                                                                                      Housing Authority of the County of Atkinson, Georgia         Floyd
                                                                                                                                       Roopville Carroll
                                                                                      Housing Authority of the County of DeKalb, Georgia
                                                                                      Housing Authority of the County of Harris        Rossville Walker
                                                                                                                                       Roswell
                                                                                      Housing Authority of the County of Houston, Georgia          Fulton
                                                                                      Housing Authority of the Town of Homer, Ga. Royston          Franklin
                                                                                      Houston County Development Authority             Rutledge Morgan
                                                                                      Ideal Downtown Development Authority             Sale City Mitchell
                                                                                      Jackson Housing Authority                        SandersvilleWashington
                                                                                      Jenkins County Development Authority                         Fulton
                                                                                                                                       Sandy Springs
                                                                                                                                       Santa ClausToombs
                                                                                      Joint Development Authority of Baker, Dougherty, Terrell, and Lee Counties
                                                                                                                                       Sardis      Burke
                                                                                      Joint Development Authority of Bartow County and Pickens County
                                                                                                                                                   Terrell
                                                                                      Joint Development Authority of Brooks, Colquitt,Sasser Mitchell, and Thomas Counties
                                                                                                                                        Grady,
                                                                                                                                       Savannah Chatham
                                                                                      Joint Development Authority of Burke County and City of Waynesboro
                                                                                                                                       Scotland Telfair
                                                                                      Joint Development Authority of Carroll, Haralson, Polk, Heard and Troup Counties


2008 OAH Funding Application - April                                 Part I-Project Information                                                                 21 of 996
Georgia Department of Community Affairs                             2008 Funding Application                                                Office of Affordable Housing
                                       PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                                                                                                      Screven      Wayne
                                                                                      Joint Development Authority of Fannin County, Towns County and Union County
                                                                                                                                      Senoia
                                                                                      Joint Development Authority of Franklin, Hart and Stephens Coweta
                                                                                                                                                   Counties
                                                                                                                                      Shady Dale Telfair
                                                                                      Joint Development Authority of Hazlehurst, Lumber City andJasper County
                                                                                                                                      Newton, Taliaferro
                                                                                      Joint Development Authority of Jasper, Morgan, Sharon and Walton Counties
                                                                                                                                      Sharpsburg Coweta
                                                                                      Joint Development Authority of Jeff Davis County, Hazlehurst and Denton, Georgia
                                                                                                                                      Shellman Randolph
                                                                                      Joint Development Authority of Metropolitan Atlanta
                                                                                      Joint Development Authority of Northeast GeorgiaShiloh       Harris
                                                                                                                                      Siloam
                                                                                      Joint Development Authority of Winder-Barrow County          Greene
                                                                                      Kennesaw Development Authority                  Sky Valley Rabun
                                                                                      Kennesaw Downtown Development Authority Smithville Lee
                                                                                      Kingsland Development Authority                 Smyrna       Cobb
                                                                                      Kingsland Downtown Development Authority Snellville Gwinnett
                                                                                      Kingston Downtown Development Authority         Social CircleWalton
                                                                                      LaFayette Housing Authority                     Soperton Treutlen
                                                                                      LaGrange Development Authority                  Sparks       Cook
                                                                                      Lake Oconee Area Development Authority          Sparta       Hancock
                                                                                      Laurens-Treutlen Joint Development Authority Springfield Effingham
                                                                                      Lavonia Downtown Development Authority          St. Marys Camden
                                                                                      Lincoln County Development Authority            Stapleton Jefferson
                                                                                      Long County Housing Authority                   Statesboro Bulloch
                                                                                      Lyons Downtown Development Authority            Statham      Barrow
                                                                                      Macon-Bibb County Urban Development Authority   Stillmore Emanuel
                                                                                      Marion County Development Authority             StockbridgeHenry
                                                                                      Middle Coastal Unified Development Authority Stone Mountain  DeKalb
                                                                                      Middle Georgia Regional Development AuthoritySugar Hill Gwinnett
                                                                                                                                                   E
                                                                                                                                      Summertown manuel
                                                                                      Milledgeville MainStreet/The Downtown Development Authority of the City of Milledgeville
                                                                                      Miller County Development Authority             Summerville  Chattooga
                                                                                      Mitchell County Development Authority           Sumner       Worth
                                                                                      Montezuma Downtown Development Authority Sunny Side Spalding
                                                                                      Montgomery County Development Authority         Surrency Appling
                                                                                      Moultrie-Colquitt County Development AuthoritySuwanee Gwinnett
                                                                                      Nashville Downtown Development Authority        SwainsboroEmanuel
                                                                                      Northeast Georgia Housing Authority             Sycamore Turner
                                                                                      Northwest Georgia Housing Authority             Sylvania     Screven
                                                                                      Northwest Georgia Joint Development AuthoritySylvester Worth
                                                                                      Ocmulgee Regional Joint Development Authority   Talbotton Talbot
                                                                                      Oglethorpe Development Authority                             P
                                                                                                                                      Talking Rock ickens
                                                                                      Okefenokee Area Development Authority           Tallapoosa Haralson
                                                                                      Palmetto Housing Authority                                   H
                                                                                                                                      Tallulah Falls abersham
                                                                                      Pelham Housing Authority                        Talmo        Jackson
                                                                                      Pooler Development Authority                    Tarrytown Montgomery
                                                                                      Port Wentworth Downtown Development Authority   Taylorsville Bartow
                                                                                      Powder Springs Downtown Development Authority   Temple       Carroll
                                                                                                                                      Tennille
                                                                                      Pulaski County-Hawkinsville Development Authority            Washington
                                                                                      Putnam Development Authority                    Thomaston Upson
                                                                                      Randolph County Development Authority           ThomasvilleThomas
                                                                                      Redevelopment Authority of Clayton County       Thomson McDuffie
                                                                                      Rochelle Housing Authority                      ThunderboltChatham


2008 OAH Funding Application - April                                 Part I-Project Information                                                                   22 of 996
Georgia Department of Community Affairs                             2008 Funding Application                                                Office of Affordable Housing
                                       PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                                                      Rockmart Development Authority                  Tifton       Tift
                                                                                      Rome-Floyd County Development Authority         Tiger        Rabun
                                                                                      Sandersville Downtown Development Authority Tignall          Wilkes
                                                                                      Sardis Development Authority                    Toccoa       Stephens
                                                                                                                                      Toomsboro Wilkinson
                                                                                      Schley-Sumter-Macon Counties Joint Development Authority
                                                                                      Screven County Development Authority            Trenton      Dade
                                                                                      Smyrna Housing Authority                        Trion        Chattooga
                                                                                      Social Circle Development Authority             Tunnell Hill Whitfield
                                                                                      South Georgia Business and Development AuthorityTurin        Coweta
                                                                                                                                      Twin
                                                                                      Southeast Georgia Consolidated Housing Authority City Emanuel
                                                                                      Southeast Georgia Joint Development AuthorityTy Ty           Tift
                                                                                                                                      Tybee
                                                                                      Southeast Georgia Regional Development Authority Island      Chatham
                                                                                      Southwest Georgia Joint Development AuthorityTyrone          Fayette
                                                                                      Sparta-Hancock County Development Authority Unadilla         Dooly
                                                                                      St. Marys Downtown Development Authority        Union City Fulton
                                                                                      Stephens County Development Authority           Union Point Greene
                                                                                      Suwanee Downtown Development Authority          Uvalda       Montgomery
                                                                                      Tallapoosa Development Authority                Valdosta Lowndes
                                                                                      Tattnall County Development Authority           Varnell      Whitfield
                                                                                      Taylor County Development Authority             VernonburgChatham
                                                                                      Temple Downtown Development Authority           Vidalia      Toombs
                                                                                      Terrell County Development Authority            Vidette      Burke
                                                                                      The Commerce Housing Authority                  Vienna       Dooly
                                                                                      The Development Authority of Long County        Villa Rica Carroll
                                                                                      The Development Authority of Pickens County Waco             Haralson
                                                                                      The Development Authority of Snellville, GeorgiaWadley       Jefferson
                                                                                      The Development Authority of the City of CamillaWaleska Cherokee
                                                                                                                                      Walnut
                                                                                      The Development Authority of the City of Manchester Grove    Walton
                                                                                                                                                   L
                                                                                                                                      Walthourville iberty
                                                                                      The Development Authority of the City of Tallapoosa
                                                                                                                                      Warm Springs
                                                                                      The Downtown Development Authority of Bainbridge, Georgia    Meriwether
                                                                                                                                      Warner RobinsHouston
                                                                                      The Downtown Development Authority of the City of Griffin, Georgia
                                                                                                                                      Warrenton Warren
                                                                                      The Housing Authority of the City of Americus, GA
                                                                                                                                      Warwick Worth
                                                                                      The Housing Authority of the City of Atlanta, Georgia
                                                                                      The Housing Authority of the City of Brunswick, WashingtonWilkes
                                                                                                                                      Georgia
                                                                                                                                      WatkinsvilleOconee
                                                                                      The Housing Authority of the City of Dallas, Georgia
                                                                                      The Housing Authority of the City of Newnan Waverly Hall     Harris
                                                                                      The Housing Authority of the City of Washington Waycross Ware
                                                                                      Thomaston Downtown Development Authority Waynesboro          Burke
                                                                                      Thomasville Downtown Development Authority West Point Troup
                                                                                      Tift County Development Authority               Weston       Webster
                                                                                                                                      Whigham Grady
                                                                                      Tift-Turner-Worth-Cook Joint Development Authority
                                                                                      Toombs County Development Authority             White        Bartow
                                                                                      Treutlen County Development Authority           White Plains Greene
                                                                                      Troup County Development Authority              Whitesburg Carroll
                                                                                      Turner County Development Authority             Willacoochee Atkinson
                                                                                      Union City Housing Authority                    Williamson Pike
                                                                                                                                      Winder
                                                                                      Urban Redevelopment Agency of Clayton County, Georgia Barrow
                                                                                      Urban Redevelopment Agency of the City of CantonWinterville Clarke


2008 OAH Funding Application - April                                 Part I-Project Information                                                                 23 of 996
Georgia Department of Community Affairs                             2008 Funding Application                                                   Office of Affordable Housing
                                       PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                                                      Urban Redevelopment Agency of the City of DallasWoodbine Camden
                                                                                      Urban Redevelopment Agency of the City of DuluthWoodbury Meriwether
                                                                                                                                      Woodland Talbot
                                                                                      Urban Redevelopment Agency of the City of Kennesaw, Georgia
                                                                                                                                      Woodstock Cherokee
                                                                                      Urban Redevelopment Authority of the City of Suwanee
                                                                                                                                      Woodville Greene
                                                                                      Urban Residential Finance Authority of the City of Atlanta, Georgia
                                                                                      Valdosta Housing Authority                      Woolsey Fayette
                                                                                      Valley Partnership Joint Development Authority Wrens         Jefferson
                                                                                      Vidalia Development Authority                   Wrightsville Johnson
                                                                                      Villa Rica Downtown Development Authority       Yatesville Upson
                                                                                      Walker County Development Authority                          T
                                                                                                                                      Young Harris owns
                                                                                      Waycross and Ware County Development Authority  Zebulon      Pike
                                                                                      West Central Georgia Joint Development Authority             <---- Enter unlisted city here as needed, th
                                                                                      West Georgia Joint Development Authority
                                                                                      West Point Development Authority
                                                                                      West Point Lake Development Authority
                                                                                      Winder Downtown Development Authority
                                                                                      Woodbine Downtown Development Authority
                                                                                                                                      <---- Enter unlisted tax-exempt bond issuer here as ne




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2008 OAH Funding Application - April      Part I-Project Information                      41 of 996
Georgia Department of Community Affairs                                       2008 Funding Application                             Office of Affordable Housing




                     <---- 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.




2008 OAH Funding Application - April                                           Part I-Project Information                                             42 of 996
Georgia Department of Community Affairs                                                     2008 Funding Application                                               Office of Affordable Housing

                                           PART TWO - DEVELOPMENT TEAM INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

I. OWNERSHIP INFORMATION

  A. OWNERSHIP ENTITY                     Cordele Rosewood Partners, LP                                                        Name of Principal Mark du Mas
        Office Street Address             2730 Cumberland Pkwy                                                                 Title of Principal Manager
        City                              Smyrna                             Fed Tax ID:                                       Direct line        (770) 431-9696
        State                                 GA         Zip+4          30080-3048                                             Cellular           (404) 307-9232
        10-Digit Office Phone / Ext.      (770) 431-9696                         Fax                   (770) 431-9699   E-mail mark@pacesfoundation.org
          (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)
  B. PROPOSED PARTNERSHIP INFORMATION

     1. GENERAL PARTNER(S)
        a. Managing Gen'l Partner         Cordele Rosewood GP, LLC                                                             Name of Principal Mark du Mas
           Office Street Address          2730 Cumberland Pkwy                                                                 Title of Principal Manager
           City                           Smyrna                                                                               Direct line        (770) 431-9696
           State                              GA         Zip+4              30080-3048                                         Cellular           (404) 307-9232
           10-Digit Office Phone / Ext.   (770) 431-9696                             Fax               (770) 431-9699   E-mail mark@pacesfoundation.org
        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        SunAmerica Affordable Housing Partners                                               Name of Principal Michael Fowler
           Office Street Address          1 SunAmerica Center                                                                  Title of Principal President
           City                           Los Angeles                                                                          Direct line
           State                              CA         Zip+4          90067-6022                                             Cellular
           10-Digit Office Phone / Ext.   (310) 772-6553                         Fax                   (310) 772-6794   E-mail mfowler@sunamerica.com
        b. State Limited Partner          SunAmerica Affordable Housing Partners                                               Name of Principal Michael Fowler
           Office Street Address          1 SunAmerica Center                                                                  Title of Principal President
           City                           Los Angeles                                                                          Direct line
           State                              CA         Zip+4          90067-6022                                             Cellular
           10-Digit Office Phone / Ext.   (310) 772-6553                         Fax                   (310) 772-6794   E-mail mfowler@sunamerica.com

     3. NONPROFIT SPONSOR
          Nonprofit Sponsor*              Paces Foundation, Inc.                                                               Name of Principal Mark du Mas
          Office Street Address           2730 Cumberland Pkwy                                                                 Title of Principal President
          City                            Smyrna                                                                               Direct line        (770) 431-9696
          State                               GA         Zip+4              30080-3048                                         Cellular           (404) 307-9232
          10-Digit Office Phone / Ext.    (770) 431-9696                             Fax               (770) 431-9699   E-mail mark@pacesfoundation.org




2008 OAH Funding Application - April                                                       Part II-Development Team                                                                  43 of 996
Georgia Department of Community Affairs                                          2008 Funding Application                                               Office of Affordable Housing

                                          PART TWO - DEVELOPMENT TEAM INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

II. DEVELOPER(S)

  A. DEVELOPER                          Cordele Rosewood Developer, LLC                                             Name of Principal Mark du Mas
         Office Street Address          2730 Cumberland Pkwy                                                        Title of Principal Manager
         City                           Smyrna                                                                      Direct line        (770) 431-9696
         State                              GA         Zip+4         30080-3048                                     Cellular           (404) 307-9232
         10-Digit Office Phone / Ext.   (770) 431-9696                        Fax           (770) 431-9699   E-mail mark@pacesfoundation.org
  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

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                 CAA/Hardin                                                                  Name of Principal Louis "Chap" Ashmore
         Office Street Address          3600 Dallas Highway, Suite 230                                              Title of Principal Principal
         City                           Marietta                                                                    Direct line
         State                              GA         Zip+4           30064-1685                                   Cellular           (404) 697-7067
         10-Digit Office Phone / Ext.   (404) 697-7067                          Fax         (912) 852-9250   E-mail chapa@bulloch.net
  C. MANAGEMENT COMPANY                 Community Management Services, Inc.                                         Name of Principal Vincent Murphy
        Office Street Address           5755 North Point Parkway, Suite 67                                          Title of Principal Partner
        City                            Alpharetta                                                                  Direct line
        State                               GA         Zip+4           30022-1146                                   Cellular           (770) 815-7440
        10-Digit Office Phone / Ext.    (770) 594-5220                          Fax         (770) 594-7973   E-mail vince@comgtsvc.com
  D. ATTORNEY                           Coleman Talley, LLP                                                         Name of Principal Clay Powell
         Office Street Address          910 North Patterson Street                                                  Title of Principal Partner
         City                           Valdosta                                                                    Direct line
         State                              GA          Zip+4        31601-4531                                     Cellular           (229) 300-1408
         10-Digit Office Phone / Ext.   (229) 242-7562                        Fax           (229) 333-0885   E-mail clay.powell@colemantalley.com




2008 OAH Funding Application - April                                            Part II-Development Team                                                                  44 of 996
Georgia Department of Community Affairs                                                                2008 Funding Application                                                                  Office of Affordable Housing

                                                    PART TWO - DEVELOPMENT TEAM INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

     E. ACCOUNTANT                                Habif Arogetti & Wynne                                                                                     Name of Principal Ed Deck
           Office Street Address                  5565 Glenridge Connector, Suite 200                                                                        Title of Principal Partner
           City                                   Atlanta                                                                                                    Direct line
           State                                       GA          Zip+4         30342-4782                                                                  Cellular           (404) 218-2305
           10-Digit Office Phone / Ext.           (404) 898-8245                          Fax                        (404) 602-4698                   E-mail ed.deck@hwcpa.com
     F. ARCHITECT                                 Wallace Architects                                                                                         Name of Principal Kurt Wallace
            Office Street Address                 3615 W. Broadway Blvd, Suite B                                                                             Title of Principal Partner
            City                                  Sedalia                                                                                                    Direct line
            State                                     MO          Zip+4          65301-2479                                                                  Cellular           (660) 287-7000
            10-Digit Office Phone / Ext.          (660) 826-7000                          Fax                        (660) 826-7666                   E-mail kurt@wallacearchitects.com

IV. OTHER REQUIRED INFORMATION (Answer each of the 6 questions below for each participant listed below.)

                                      1. Is                                                         4. Does this entity have 5. Has this entity ever
                                                2. Has any person,        3. Does this entity have
                                      this                                                            an identity of interest    been debarred or           6. Applicable
                                             principal, or agent for this  an identity of interest
                                     entity                                                             with any member,        suspended from any       Organizational Type                       7. Project Ownership
             Participant                    entity ever been convicted    with any other entity in
                                       a                                                             officer, or employee of   local, state, or federal (For Profit, Nonprofit,                         Percentage
                                            of a felony (Yes or No)?. If this chart? If yes, attach
                                     MBE/                                                             DCA? If yes, attach       housing program? If            CHDO)
                                              yes, attach explanation.          explanation.
                                     WBE?                                                                  explanation.       yes, attach explanation.

     Managing General Partner          No                     No                             Yes                            No                            No                  For Profit                 0.0100%
     Other General Partner 1
     Other General Partner 2
     Federal Limited Partner           No                     No                             No                             No                            No                  For Profit                 99.9900%
     State Limited Partner             No                     No                             No                             No                            No                  For Profit                 99.9900%
     Nonprofit Sponsor                 No                     No                             Yes                            No                            No                   CHDO                     100.0000%
     Developer                         No                     No                             Yes                            No                            No                  For Profit                  0.0000%
     Co-Developer 1
     Co-Developer 2
     Owner Consultant
     Developer Consultant
     Contractor                        No                     No                             No                             No                            No                  For Profit                 0.0000%
     Management Company                No                     No                             No                             No                            No                  For Profit                 0.0000%

V.     APPLICANT COMMENTS AND CLARIFICATIONS                                                                                                    VI.         DCA COMMENTS - DCA USE ONLY
The Managing General Partner is owned 100% by Cordele Service Corporation. 100% of the stock in Cordele Service Corporation is owned by Paces
Foundation, Inc. (501c3) The Developer, Cordele Rosewood Developer, LLC is 100% owned by Paces Foundation, Inc. (501c3) 100% of the
ownership of the managing General Partner is a 501c3.




The Federal Tax ID Number documentation is located in Tab 20 in front of the LP Agreement.




2008 OAH Funding Application - April                                                                  Part II-Development Team                                                                                     45 of 996
Georgia Department of Community Affairs                                     2008 Funding Application                                   Office of Affordable Housing

                                          PART TWO - DEVELOPMENT TEAM INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County




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



2008 OAH Funding Application - April                                        Part II-Development Team                                                     46 of 996
Georgia Department of Community Affairs                                     2008 Funding Application                                   Office of Affordable Housing

                                          PART TWO - DEVELOPMENT TEAM INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                                                                                          WI
                                                                                                                          WY




2008 OAH Funding Application - April                                        Part II-Development Team                                                     47 of 996
Georgia Department of Community Affairs                                          2008 Funding Application                                                           Office of Affordable Housing
                                               PART THREE - SOURCES OF FUNDS - 2008-020 Rosewood Estates, Cordele, Crisp County

 I.    CONSTRUCTION FINANCING
       Financing Type                                                  Name of Financing Entity                            Amount                    Effective Interest Rate   Term (In Months)
       First Mortgage                                             SunTrust USDA 538 Loan                                                  950,000            6.630%                   24
       Second Mortgage
       Third Mortgage
       Federal Grant
       State, Local, or Private Grant
       Deferred Developer Fees
       Federal Housing Credit Equity                              SunAmerica                                                             5,705,298
       State Housing Credit Equity                                SunAmerica                                                             1,951,402
       Other Source (specify)
       Other Source (specify)
       Other Source (specify)
       Total Construction Financing:                                                                                                     8,606,700
       Total Construction Period Costs from Development Budget:                                                                          8,606,700
       Surplus/(Shortage) of Construction funds to Construction costs:                                                                           0

 II.   PERMANENT FINANCING                                                                              Effective
                                                                                                        Interest     Term      Amort.     Annual Debt Service
       Financing Type                   Name of Financing Entity               Principal Amount           Rate      (Years)    (Years)     Per Terms Given            Loan Type         Balloon?
       First Mortgage                   SunTrust USDA 538 Loan                            950,000       6.630%        25         30                   73,033          Amortizing          No
       Second Mortgage
       Third Mortgage
       Other:
       Other:
       Deferred Devlpr Fee       0.72%  Cordele Rosewood Developer, LLC                        9,330    4.130%        1             1                    9,540        Amortizing          No
       Federal Grant
       State, Local, or Private Grant
       Federal Housing Credit Equity    SunAmerica                                         6,969,303
       State Housing Credit Equity      SunAmerica                                         2,379,762
       Historic Credit Equity
       Invstmt Earnings: T-E Bonds
       Invstmt Earnings: Taxable Bonds
       Income from Operations
       Other:
       Other:
       Other:
       Total Permanent Financing:                                                 10,308,395
       Total Development Costs from Development Budget:                           10,308,395
       Surplus/(Shortage) of Permanent funds to development costs:                     0

                                           Year:        1 -7         8           9            10          11         12             13       14          15          16         17         18
       Proposed DCA HOME Loan
                                           Rate:
       Interest Rate by Operating Year
                                           Year:         19          20         21            22           23         24            25       26          27          28         29         30
       for Projects in Rural Areas:
                                           Rate:




2008 OAH Funding Application - April                                                 Part III-Sources of Funds                                                                           48 of 996
Georgia Department of Community Affairs                                                     2008 Funding Application                                   Office of Affordable Housing
                                                    PART THREE - SOURCES OF FUNDS - 2008-020 Rosewood Estates, Cordele, Crisp County


 III.   APPLICANT COMMENTS AND CLARIFICATIONS                                                                  IV.       DCA COMMENTS - DCA USE ONLY
 The Defered Developer Fee note is set at rate no lower than AFR which is currently 4.13%




2008 OAH Funding Application - April                                                         Part III-Sources of Funds                                                    49 of 996
Georgia Department of Community Affairs                                          2008 Funding Application                                          Office of Affordable Housing

                                                       PART FOUR - USES OF FUNDS - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                            CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

     DEVELOPMENT BUDGET                                                                                                                                         Amortizable or
I.                                                                                               New Construction      Acquisition        Rehabilitation
                                                                                                                                                               Non-Depreciable
                                                                                                      Basis              Basis               Basis
                                                                             TOTAL COST                                                                            Basis

     PRE-DEVELOPMENT COSTS                                                                                               PRE-DEVELOPMENT COSTS
     Property Appraisal
     Market Study                                                                   6,200                    6,200
     Environmental Report(s)                                                        8,145                    8,145
     Soil Borings                                                                  10,000                   10,000
     Boundary and Topographical Survey                                             20,000                   20,000
     Zoning/Site Plan Fees                                                          1,000                    1,000
     Other: USDA 538 Loan Appraisal                                                 6,000                    6,000
     Other:
     Other:
                                                                  Subtotal         51,345                   51,345              -                    -                     -

     ACQUISITION                                                                                                                 ACQUISITION
     Land                                                                         331,800                                                                             331,800
     Demolition
     Acquisition Legal Fees (if existing structures)
     Existing Structures
                                                                  Subtotal        331,800                                       -                                     331,800

     SITE IMPROVEMENTS                                                                                                      SITE IMPROVEMENTS
     Site Preparation (On-site)                                                  1,450,000             1,450,000
     Site Preparation (Off-site)
                                                                  Subtotal       1,450,000             1,450,000                -                    -                     -

     UNIT/BUILDING CONSTRUCTION                                                                                        UNIT/BUILDING CONSTRUCTION
     Unit/Building Construction/New Construction                                 4,525,000             4,525,000
     Unit/Building Construction/Rehab
     Project Amenities / Accessory Buildings                                       180,000               180,000
     Other: Landscaping                                                             68,400                68,400
     Construction Contingency                                                      500,000               500,000
                                                                  Subtotal       5,273,400             5,273,400                -                    -                     -

     CONTRACTOR SERVICES                                                                                                  CONTRACTOR SERVICES
     Builder's Overhead:                2.00%                      124,468        124,468                  124,468
     Builder Profit:                    6.00%                      373,404        373,404                  373,404
     General Requirements               6.00%                      373,404        373,404                  373,404
     Payment/performance bond or
     letter-of-credit fee or premium                              Subtotal        871,276                  871,276              -                    -                     -
     Total Construction Costs                126,691 per unit
                     7,094,676                    98 per sq ft




2008 OAH Funding Application - April                                               Part IV-Uses of Funds                                                              50 of 996
Georgia Department of Community Affairs                                    2008 Funding Application                                         Office of Affordable Housing

                                                 PART FOUR - USES OF FUNDS - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                      CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

     DEVELOPMENT BUDGET                                                                                                                                  Amortizable or
I.                                                                                         New Construction      Acquisition      Rehabilitation
                                                                                                                                                        Non-Depreciable
                                                                                                Basis              Basis             Basis
                                                                       TOTAL COST                                                                           Basis

     CONSTRUCTION PERIOD FINANCING                                                                             CONSTRUCTION PERIOD FINANCING
     Construction Loan Fee                                                    1,923                    1,923
     Construction Loan Interest                                              47,239                   25,981                                                    21,258
     Construction Legal Fees                                                 25,000                   25,000
     Construction Period Real Estate Tax                                     19,600                   19,600
     Construction Insurance                                                  73,227                   73,227
     Bridge Loan Fee and Bridge Loan Interest
     Other:
                                                            Subtotal        166,989                  145,731              -                  -                  21,258

     PROFESSIONAL SERVICES                                                                                          PROFESSIONAL SERVICES
     Architectural Fee - Design                                              84,000                   84,000
     Architectural Fee - Supervision                                          8,000                    8,000
     Engineering                                                             38,890                   38,890
     Real Estate Attorney                                                    10,000                   10,000
     Accounting                                                              35,000                   35,000
     Other:
                                                            Subtotal        175,890                  175,890              -                  -                      -
     LOCAL GOVERNMENT FEES                                                                                         LOCAL GOVERNMENT FEES
     Building Permits                                                        14,000                   14,000
     Impact Fees
     Water Tap Fees    waived?                            No                  1,000                    1,000
     Sewer Tap Fees    waived?                            No                  1,000                    1,000
                                                            Subtotal         16,000                   16,000              -                  -                      -
     PERMANENT FINANCING FEES                                                                                     PERMANENT FINANCING FEES
     Permanent Loan Fees                                                     34,127                                                                             34,127
     Permanent Loan Legal Fees                                               25,000                                                                             25,000
     Title and Recording Fees                                                15,000                   15,000
     As-Built Survey                                                          5,000                    5,000
     Bond Issuance Premium
     Cost of Issuance / Underwriter's Discount
     Other:
                                                            Subtotal         79,127                   20,000              -                  -                  59,127




2008 OAH Funding Application - April                                         Part IV-Uses of Funds                                                             51 of 996
Georgia Department of Community Affairs                                     2008 Funding Application                                       Office of Affordable Housing

                                               PART FOUR - USES OF FUNDS - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                     CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

     DEVELOPMENT BUDGET                                                                                                                                 Amortizable or
I.                                                                                          New Construction    Acquisition       Rehabilitation
                                                                                                                                                       Non-Depreciable
                                                                                                 Basis            Basis              Basis
                                                                         TOTAL COST                                                                        Basis

     DCA-RELATED COSTS                                                                                               DCA-RELATED COSTS
     DCA Loan Application Fee (less DCA Mkt Study fee)
     Tax Credit Application Fee (less DCA Mkt Study fee)                        2,500                                                                           2,500
     DCA-Commissioned Market Study                                              5,000                   5,000
     DCA Waiver Fees
     LIHTC Allocation Processing Fee                            59,500         59,500                                                                          59,500
     LIHTC Compliance Monitoring Fee                            33,600         33,600                                                                          33,600
     DCA Front End Analysis Fee (HOME, when ID of Interest)
     DCA Final Inspection Fee                                                   3,000                                                                           3,000
     Other:
                                                              Subtotal        103,600                   5,000            -                   -                 98,600

     EQUITY COSTS                                                                                                        EQUITY COSTS
     Partnership Organization Fees                                              5,000                                                                           5,000
     Tax Credit Legal Opinion                                                   1,000                                                                           1,000
     Syndicator Legal Fees
     Other:
                                                              Subtotal          6,000                     -              -                   -                  6,000
     DEVELOPER'S FEE                                                                                                   DEVELOPER'S FEE
     Developer's Overhead                                                     260,000                 260,000
     Consultant's Fee
     Developer's Fee                                                        1,040,000             1,040,000
                                                              Subtotal      1,300,000             1,300,000              -                   -                     -
     START-UP AND RESERVES                                                                                         START-UP AND RESERVES
     Marketing                                                                 10,000                                                                          10,000
     Rent -Up Reserves                                                         46,000                                                                          46,000
     Operating Deficit Reserve:                                                93,204                                                                          93,204
     Replacement Reserve
     Furniture, Fixtures and Equipment                                        103,850                 103,850
     Other: USDA Interest Credit Reserve                                       23,746                                                                          23,746
                                                              Subtotal        276,800                 103,850            -                   -                172,950
     OTHER COSTS                                                                                                         OTHER COSTS
     Relocation
     Other: USDA Permanent Loan Conversion Reserve                            206,168                                                                         206,168
     Other:
                                                              Subtotal        206,168                     -              -                   -                206,168

     TOTAL DEVELOPMENT COST                                                10,308,395             9,412,492              -                   -                895,903

     Per Unit                                                             184078.4821
     Per Square Foot                                                      142.8111579




2008 OAH Funding Application - April                                          Part IV-Uses of Funds                                                           52 of 996
Georgia Department of Community Affairs                                                   2008 Funding Application                                                               Office of Affordable Housing

                                                        PART FOUR - USES OF FUNDS - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                               CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
II.    TAX CREDIT CALCULATION - BASIS METHOD                                                                  New Construction    4% Acquisition                    Rehabilitation
                                                                                                                   Basis              Basis                            Basis
       Subtractions From Eligible Basis
       Amount of federal grant(s) used to finance qualifying development costs
       Amount of federal below market rate loan
       Amount of nonqualified nonrecourse financing
       Costs of Nonqualifying units of higher quality
       Nonqualifying excess portion of higher quality units
       Historic Tax Credit (Residential Portion Only)
       Other
       Total Subtractions From Basis:                                                                                0                                                      0

       Eligible Basis Calculation
       Total Basis                                                                                               9,412,492                 0                                0
       Less Total Subtractions From Basis (see above)                                                                0                                                      0
       Total Eligible Basis                                                                                      9,412,492                 0                                0
       Eligible Basis Adjustment for DDA/QCT Location                                                            130.00%
       Adjusted Eligible Basis                                                                                  12,236,240                 0                                0
       Multiply Adjusted Eligible Basis by Applicable Fraction                                                    89.26%                 89.26%                           89.26%
       Qualified Basis                                                                                          10,921,930                 0                                0
       Multiply Qualified Basis by Applicable Credit Percentage                                                   78.00%
       Maximum Tax Credit Amount                                                                                 8,519,105                 0                                0
       Total Basis Method Tax Credit Calculation                                                                                      8,519,105

III.   TAX CREDIT CALCULATION - GAP METHOD
       Equity Gap Calculation
       Total Development Cost (not to exceed Per Unit Cost Limitation or DCA-Approved Per Unit Cost Waiver)        10,308,395    Enter the lesser of the Total Development Cost (TDC) indicated above,
                                                                                                                                 the TDC waiver amount approved by DCA, or the maximum TDC
       Subtract Non-Tax Credit (excluding deferred fee) Source of Funds                                              950,000     calculated for this project based on the Per Unit Cost Limits set forth in
       Equity Gap                                                                                                  9,358,395
       Divide Equity Gap by 10                                                                                           / 10
       Annual Equity Required                                                                                        935,840                      Federal                           State
       Enter Final Federal and State Equity Factors (not including GP contribution)                                  1.1000          =            0.8200              +            0.2800
       Total Gap Method Tax Credit Calculation                                                                       850,763


IV.    TAX CREDIT ALLOCATION                                                                                         850,000




2008 OAH Funding Application - April                                                         Part IV-Uses of Funds                                                                                            53 of 996
Georgia Department of Community Affairs                                                                    2008 Funding Application                                                 Office of Affordable Housing

                                                                 PART FOUR - USES OF FUNDS - 2008-020 Rosewood Estates, Cordele, Crisp County

                                                                          CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
V.    APPLICANT COMMENTS AND CLARIFICATIONS                                                                                                     VI.   DCA COMMENTS - DCA USE ONLY
The Fees charged for the USDA 538 Loan are as follows: $25,000 Commitment Fee / $2500 USDA Application Fee / Gurantee Fee
$8550 (1% of the guranteed portion of the loan amount at closing). The Total of all fees is $36,050. The term of the loan is 300 months.
The claculation for the portion that is for construction is as follows: 16 month construction period / 300 month term on the loan x $36,050 =
$1923.00. The balance, $34,127 is allocated towards the permanent loan cost.

USDA Interest Credit Reserve - The USDA requires the owner to start an account with the first years interest credit in the account at the
start of the loan. The interest credit reserve is paid back to the owner at the end of the year. Because the reserve is paid in month 12, a
reserve must be established at closing to cover the additonal interest cost during the first 12 months until the reserve is paid.


USDA Permanent Loan Conversion Reserve - This reserve is 2.0% of appraised value or total development cost. it is required for
construction / permanent loans, this reserve is reimbursed to the borrower once the property attains 90% occupancy for 90 days at the
proforma assumptions for the rent and DSC. The reserve is held to allow conversion to permanent loan without the 90/90 achievement.


Operating Deficit Reserve - USDA Requires 2% of the Loan amount for the reserve. We do not feel that is adequate and have increaded
the reserve to match the required reserve for HOME funded projects. (4 months of Operating Expenses and 4 months of Debt Service
without the Interest Credit Reserve)


The land costs is calculated as follows. We are paying $14,000 per upland acre. We have approx. 39.3 acres under contract. We have
15.6 acres of flood plain and 23.7 acres of upland. $14,000 x 23.7 = $331,800




2008 OAH Funding Application - April                                                                          Part IV-Uses of Funds                                                                    54 of 996
Georgia Department of Community Affairs                           2008 Funding Application                                        Office of Affordable Housing


                           PART FIVE - UTILITY ALLOWANCES - 2008-020 Rosewood Estates, Cordele, Crisp County

  I.   UTILITY ALLOWANCE SCHEDULE #1                     Source of Utility Allowances            Georgia Department of Community Affairs
                                                         Date of Utility Allowances              June 1, 2008           Structure SF Detached
                                                          Paid By (check one)         Tenant-Paid Utility Allowances by Unit Size (No. of Bedrooms)
       Utility              Fuel                           Tenant     Owner             0          1            2         3           4         5
       Heat                 Natural Gas
       Heat                 Electric
       Heat                 Propane
       Heat                 78% + AFUE Gas
       Heat                 Electric Heat Pump                X                                                                  6          9
       Air Conditioning     Electric                          X                                                                 58         75
       Cooking              Natural Gas                       X                                                                 18         22
       Cooking              Electric
       Cooking              Propane
       Hot Water            Natural Gas                       X                                                                 46         58
       Hot Water            Electric
       Hot Water            Propane
       Lights               Electric                          X                                                                 40         51
       Water & Sewer        Submetered?      Yes              X                                                                 49         58
       Refuse Collection                                                    X
       Total Utility Allowance by Unit Size                                              0            0            0           217         273        0

          No      Election to use Electric Utility Provider's Allowance as outlined in the 2008 QAP
                 *Elderly allowances cannot be used except at properties that have 100% PBRA and satisfy the DCA definition of "elderly"

       APPLICANT COMMENTS AND CLARIFICATIONS




       DCA COMMENTS




2008 OAH Funding Application - April                               Part V-Utility Allowances                                                         55 of 996
Georgia Department of Community Affairs                           2008 Funding Application                                         Office of Affordable Housing


                            PART FIVE - UTILITY ALLOWANCES - 2008-020 Rosewood Estates, Cordele, Crisp County

  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 (No. of Bedrooms)
        Utility              Fuel                           Tenant     Owner             0          1            2         3           4         5
        Heat                 Natural Gas
        Heat                 Electric
        Heat                 Propane
        Heat                 78% + AFUE Gas
        Heat                 Electric Heat Pump
        Air Conditioning     Electric
        Cooking              Natural Gas
        Cooking              Electric
        Cooking              Propane
        Hot Water            Natural Gas
        Hot Water            Electric
        Hot Water            Propane
        Lights               Electric
        Water & Sewer        Submetered?
        Refuse Collection
        Total Utility Allowance by Unit Size                                              0            0            0            0          0          0

                  Election to use Electric Utility Provider's Allowance as outlined in the 2008 QAP
                  *Elderly allowances cannot be used except at properties that have 100% PBRA and satisfy the DCA definition of "elderly"

        APPLICANT COMMENTS AND CLARIFICATIONS




        DCA COMMENTS




2008 OAH Funding Application - April                                Part V-Utility Allowances                                                         56 of 996
                                      Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008 Funding Application                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       Of f ice of Af f ordable Housing




                                            PART SIX - PROJECTED REVENUES & EXPENSES - 2008-020 Rosewood Estates, Cordele, Crisp County

I.   RENT SCHEDULE                         DO NOT cut, copy or paste cells in this Rent Schedule.         Assign a Rent Type of "N/A-CS" to Common Space units.
                                                                                                                          Monthly Net Rent                                                      Efficiency                                                  Efficiency                                                  Efficiency                                                                                                                        Efficiency   1 BR   2 BR   3 BR   4 BR   5 BR   Efficiency   1 BR   2 BR   3 BR   4 BR   5 BR   Efficiency   1 BR   2 BR   3 BR   4 BR   5 BR    Efficiency                                                                                                                                                                                                                                                                                                                                                                                                       Efficiency     1 BR       2 BR       3 BR       4 BR       5 BR     Efficiency   1 BR New 2 BR New 3 BR New 4 BR New 5 BR New Efficiency       1 BR New 2 BR New 3 BR New 4 BR New 5 BR New        Efficiency    1 BR        2 BR      3 BR        4 BR      5 BR      Efficiency     1 BR        2 BR        3 BR       4 BR        5 BR       Efficiency    1 BR       2 BR       3 BR       4 BR       5 BR      Efficiency     1 BR        2 BR        3 BR        4 BR        5 BR      Efficiency     1 BR
        Rent     Nbr of    No. of   Unit      Unit      HOME    Max Gross Proposed              Utility      PBRA                               Employee          Building       Type of
                                                                                                                                                                                                   60%       1 BR 60% 2 BR 60% 3 BR 60% 4 BR 60% 5 BR 60%      50%       1 BR 50% 2 BR 50% 3 BR 50% 4 BR 50% 5 BR 50%      30%       1 BR 30% 2 BR 30% 3 BR 30% 4 BR 30% 5 BR 30%   Efficiency   1 BR Mkt   2 BR Mkt   3 BR Mkt    4 BR Mkt    5 BR Mkt     PBRA       PBRA   PBRA   PBRA   PBRA   PBRA     PBRA       PBRA   PBRA   PBRA   PBRA   PBRA     PBRA       PBRA   PBRA   PBRA   PBRA   PBRA    Common       1 BR Common    2 BR Common    3 BR Common    4 BR Common    5 BR Common    Efficiency   1 BR 60% 2 BR 60% 3 BR 60% 4 BR 60% 5 BR 60%   Efficiency   1 BR 50%   2 BR 50% 3 BR 50% 4 BR 50% 5 BR 50%   Efficiency   1 BR 30% 2 BR 30% 3 BR 30% 4 BR 30% 5 BR 30%   Efficiency   1 BR Mkt   2 BR Mkt   3 BR Mkt   4 BR Mkt   5 BR Mkt   Efficiency     1 BR      2 BR      3 BR      4 BR      5 BR    Common       Common     Common     Common     Common     Common        New       Construct Construct Construct Construct Construct   New       Construct Construct Construct Construct Construct        LI      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   Rehab LI   Rehab LI    Rehab        Rehab       Rehab       Rehab       Rehab       Rehab      Adaptive     Adaptive
        Type     Bdrms Baths Count            Area       Unit   Rent Limit Gross Rent         Allowance     Source      Per Unit      Total        Unit         Type            Activity          Units        Units    Units    Units    Units    Units      Units        Units    Units    Units    Units    Units      Units        Units    Units    Units    Units    Units    Mkt Units      Units      Units      Units       Units       Units       30%        30%    30%    30%    30%    30%      50%        50%    50%    50%    50%    50%      60%        60%    60%    60%    60%    60%   Space Units    Space Units    Space Units    Space Units    Space Units    Space Units    60% SF         SF       SF       SF       SF       SF       50% SF         SF         SF       SF       SF       SF       30% SF         SF       SF       SF       SF       SF       Mkt SF         SF         SF         SF         SF         SF      PBRA SF      PBRA SF   PBRA SF   PBRA SF   PBRA SF   PBRA SF   Space SF     Space SF   Space SF   Space SF   Space SF   Space SF   Construct      ion LI   ion LI    ion LI    ion LI    ion LI   Construct    ion Mkt   ion Mkt   ion Mkt   ion Mkt   ion Mkt    Acq/Rhb      LI Units   LI Units   LI Units   LI Units   LI Units   Mkt Units    Mkt Units   Mkt Units   Mkt Units   Mkt Units   Mkt Units     Units       Units      Units      Units      Units      Units     Mkt Units    Mkt Units   Mkt Units   Mkt Units   Mkt Units   Mkt Units    Reuse        Reuse
       50% AMI     3    2.0    9              1,161    Not HOME    603        572                 217                        355       3,195        No       SF Detached     New Construction
                                                                                                                                                                                                                                                                                                   9                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               10449                                                                                                                                                                                                                                                                                                                                 9
       50% AMI     4    2.0    1              1,401    Not HOME    672        672                 273                        399         399        No       SF Detached     New Construction
                                                                                                                                                                                                                                                                                                            1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                1401                                                                                                                                                                                                                                                                                                                                  1
       50% AMI     4    2.0    2              1,445    Not HOME    672        672                 273                        399         798        No       SF Detached     New Construction
                                                                                                                                                                                                                                                                                                            2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                2890                                                                                                                                                                                                                                                                                                                                  2
       60% AMI     3    2.0   23              1,161    Not HOME    723        707                 217                        490      11,270        No       SF Detached     New Construction
                                                                                                                                                                                                                                    23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  26703                                                                                                                                                                                                                                                                                                                                                                                          23
       60% AMI     4    2.0    6              1,401    Not HOME    807        807                 273                        534       3,204        No       SF Detached     New Construction                                                   6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 8406                                                                                                                                                                                                                                                                                                                                                                                             6
       60% AMI     4    2.0    6              1,445    Not HOME    807        807                 273                        534       3,204        No       SF Detached     New Construction
                                                                                                                                                                                                                                                6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 8670                                                                                                                                                                                                                                                                                                                                                                                             6
        Market     3    2.0    4              1,161    Not HOME               575                                            575       2,300        No       SF Detached     New Construction
                                                                                                                                                                                                                                                                                                                                                                                                                               4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               4644                                                                                                                                                                                                                                                                    4
        Market     4    2.0    1              1,401    Not HOME               625                                            625         625        No       SF Detached     New Construction
                                                                                                                                                                                                                                                                                                                                                                                                                                           1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              1401                                                                                                                                                                                                                                                                   1
        Market     4    2.0    1              1,445    Not HOME               625                                            625         625        No       SF Detached     New Construction
                                                                                                                                                                                                                                                                                                                                                                                                                                           1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              1445                                                                                                                                                                                                                                                                   1
       30% AMI     3    2.0    2              1,161    Not HOME    361        361                   217                      144         288        No       SF Detached     New Construction                                                                                                                                                                  2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               2322                                                                                                                                                                                                                                                                       2
       30% AMI     4    2.0    1              1,401    Not HOME    403        403                   273                      130         130        No       SF Detached     New Construction
                                                                                                                                                                                                                                                                                                                                                                        1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1401                                                                                                                                                                                                                                                                        1
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                                                                                                                             -           -
                          TOTAL      56      69,732                                                            MONTHLY TOTAL          26,038
                                                                                                                                                                                                                                  23       12                                                  9        3                                                  2        1                                                      4           2                                                                                                                                                                                                                                                                                               26,703    17,076                                           10,449   4,291                                              2,322    1,401                                                  4,644      2,846                                                                                                                                                                                       34        16                                                  4         2
                                                                                                                 ANNUAL TOTAL        312,456




                                      2008 OAH Funding Application - April                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Part VI-Revenues & Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              57 of 996
                                         Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                               2008 Funding Application      Of f ice of Af f ordable Housing




                                               PART SIX - PROJECTED REVENUES & EXPENSES - 2008-020 Rosewood Estates, Cordele, Crisp County


II. UNIT SUMMARY                                                                                                                                                                                         II.   UNIT SUMMARY
  Units:                                                             Efficiency     1BR      2BR        3BR         4BR          5BR         Total                                                             Units:                                                           Efficiency   1BR   2BR    3BR        4BR       5BR   Total
                Low-Income                                60% AMI               -   -         -               23          12      -                35   (Include mgr units that are income restricted)                   Low-Income                                  60% AMI           -     -     -           23         12   -           35   (Include mgr units that are income restricted)
                                                          50% AMI               -   -         -                9           3      -                12                                                                                                                50% AMI           -     -     -            9          3   -           12
                                                          30% AMI               -   -         -                2           1      -                 3                                                                                                                30% AMI           -     -     -            2          1   -            3
                                                          T otal                -   -         -               34          16      -                50                                                                                                                T otal            -     -     -           34         16   -           50
                Market Rate                                                     -   -         -                4           2      -                 6                                                                    Market Rate                                                   -     -     -            4          2   -            6
                Total Residential                                               -   -         -               38          18      -                56                                                                    Total Residential                                             -     -     -           38         18   -           56
                Common Space                                                    -   -         -           -           -           -            -        (no rent may be charged)                                         Common Space                                                  -     -     -       -          -        -       -        (no rent may be charged)
                Total                                                           -   -         -               38          18      -                56                                                                    Total                                                         -     -     -           38         18   -           56

                HOME                Fixed                 60% AMI               -   -         -           -           -           -            -                                                                         HOME                     Fixed              60% AMI           -     -     -       -          -        -       -
                (included in LI above)                    50% AMI               -   -         -           -           -           -            -                                                                         (included in LI above)                      50% AMI           -     -     -       -          -        -       -
                                                          30% AMI               -   -         -           -           -           -            -                                                                                                                     30% AMI           -     -     -       -          -        -       -
                                                          T otal                -   -         -           -           -           -            -                                                                                                                     T otal            -     -     -       -          -        -       -

                                    Floating              60% AMI               -   -         -           -           -           -            -                                                                                                  Floating           60% AMI           -     -     -       -          -        -       -
                                                          50% AMI               -   -         -           -           -           -            -                                                                                                                     50% AMI           -     -     -       -          -        -       -
                                                          30% AMI               -   -         -           -           -           -            -                                                                                                                     30% AMI           -     -     -       -          -        -       -
                                                          T otal                -   -         -           -           -           -            -                                                                                                                     T otal            -     -     -       -          -        -       -

                PBRA-Assisted                             60% AMI               -   -         -           -           -           -            -                                                                         PBRA-Assisted                               60% AMI           -     -     -       -          -        -       -
                (included in LI above)                    50% AMI               -   -         -           -           -           -            -                                                                         (included in LI above)                      50% AMI           -     -     -       -          -        -       -
                                                          30% AMI               -   -         -           -           -           -            -                                                                                                                     30% AMI           -     -     -       -          -        -       -
                                                          T otal                -   -         -           -           -           -            -                                                                                                                     T otal            -     -     -       -          -        -       -
                Construction:                                                                                                                                                                                            Construction:
                                    New Construction      Low Inc               -   -         -               34          16      -                50                                                                                             New Construction   Low Inc           -     -     -           34         16   -           50
                                                          Mkt Rate              -   -         -                4           2      -                 6                                                                                                                Mkt Rate          -     -     -            4          2   -            6
                                    Acq/Rehab             Low Inc               -   -         -           -           -           -            -                                                                                                  Acq/Rehab          Low Inc           -     -     -       -          -        -       -
                                                          Mkt Rate              -   -         -           -           -           -            -                                                                                                                     Mkt Rate          -     -     -       -          -        -       -
                                    Rehab Only            Low Inc               -   -         -           -           -           -            -                                                                                                  Rehab Only         Low Inc           -     -     -       -          -        -       -
                                                          Mkt Rate              -   -         -           -           -           -            -                                                                                                                     Mkt Rate          -     -     -       -          -        -       -


  Square Footage:                                                                                                                                                                                              Square Footage:
                Low Income                                60% AMI               -   -         -        26,703      17,076         -          43,779                                                                      Low Income                                  60% AMI           -     -     -     26,703     17,076     -     43,779
                                                          50% AMI               -   -         -        10,449       4,291         -          14,740                                                                                                                  50% AMI           -     -     -     10,449      4,291     -     14,740
                                                          30% AMI               -   -         -         2,322       1,401         -           3,723                                                                                                                  30% AMI           -     -     -      2,322      1,401     -      3,723
                                                          T otal                -   -         -        39,474      22,768         -          62,242                                                                                                                  T otal            -     -     -     39,474     22,768     -     62,242
                Market Rate                                                     -   -         -         4,644       2,846         -           7,490                                                                      Market Rate                                                   -     -     -      4,644      2,846     -      7,490
                Total Residential                                               -   -         -        44,118      25,614         -          69,732                                                                      Total Residential                                             -     -     -     44,118     25,614     -     69,732
                Common Space                                                    -   -         -           -           -           -             -                                                                        Common Space                                                  -     -     -        -          -       -        -
                Total                                                           -   -         -        44,118      25,614         -          69,732                                                                      Total                                                         -     -     -     44,118     25,614     -     69,732




                                         2008 OAH Funding Application - April                                                                                                                                                                                                                                                                                                                    Part VI-Revenues & Expenses                           58 of 996
                                          Georgia Department of Community Af f airs                                                                                                                            2008 Funding Application      Of f ice of Af f ordable Housing




                                                PART SIX - PROJECTED REVENUES & EXPENSES - 2008-020 Rosewood Estates, Cordele, Crisp County


III. ANCILLARY AND OTHER INCOME (annual amounts)
   Ancillary Income                                                         6,249                                    Laundry, vending, app fees, etc. Will be exactly 2% of potential gross income.
   Other Income (by Year)                                       1            2        3        4             5               6               7              8                  9                10
   Property Tax Abatement
   Property Tax Exemption
   Operating Subsidy                                          23,633       23,366    23,080    22,776       22,450          22,102          21,731        21,334                20,910             20,456
   Other:           USDA Annual Guarantee Fee                 -4,240       -4,179    -4,125    -4,069       -4,008          -3,943          -3,874        -3,800                -3,720             -3,636
   Total                                                     19,393       19,187    18,955    18,707       18,442          18,159          17,857        17,534                17,190             16,820
                                                               11           12       13        14            15              16             17             18                  19               20
   Property Tax Abatement
   Property Tax Exemption
   Operating Subsidy                                          19,972       19,455    18,903    18,312       17,682          17,008          16,288        15,519                14,697             13,820
   Other:           USDA Annual Guarantee Fee                 -3,546       -3,449    -3,346    -3,236       -3,118          -2,993          -2,858        -2,715                -2,562             -2,398
   Total                                                     16,426       16,006    15,557    15,076       14,564          14,015          13,430        12,804                12,135             11,422
                                                               21           22       23        24            25              26             27             28                  29               30
   Property Tax Abatement
   Property Tax Exemption
   Operating Subsidy                                          12,882       11,880   10,810      9,666        8,445            7,140          5,745          4,256                2,664                  964
   Other:           USDA Annual Guarantee Fee                 -2,223       -2,036   -1,837     -1,623       -1,395           -1,152           -892           -614                 -317
   Total                                                     10,659        9,844    8,973      8,043        7,050            5,988          4,853          3,642                2,347                  964
IV. ANNUAL OPERATING EXPENSE BUDGET
   On-Site Staff Costs                                                                                  Professional Services
                                                                                    30,000
   Management Salaries & Benefits                                                                       Legal                                                                                          4,200
                                                                                    25,000
   Maintenance Salaries & Benefits                                                                      Accounting                                                                                     4,200
   Support Services Salaries & Benefits                                                                 Advertising                                                                                    2,800
   Other                                                                                                Other
                                                                                    55,000
                          Subtotal                                                                                                      Subtotal                                                      11,200
   On-Site Office Costs                                                                                 Utilities
                                                                                     2,500
   Office Supplies & Postage                                                                            Electricity                                                                                    5,200
                                                                                     1,200
   Telephone                                                                                            Natural Gas                                                                                    2,000
                                                                                     1,000
   Travel                                                                                               Water & Sewer                                                                                  5,000
                                                                                     3,000
   Leased Furniture / Equipment                                                                         Trash Collection                                                                               6,000
                                                                                     1,200
   Activities Supplies / Overhead Cost                                                                  Other
   Other                                                                                                                                Subtotal                                                      18,200
                                                                                     8,900
                            Subtotal
   Maintenance Expenses                                                                                 Taxes and Insurance
                                                                                     5,000
   Contracted Repairs                                                                                   Real Estate Taxes                                                                             35,000
                                                                                     5,000
   General Repairs                                                                                      Insurance                                                                                     11,200
                                                                                     6,000
   Grounds Maintenance                                                                                  Other
                                                                                     1,500
   Extermination                                                                                                                        Subtotal                                                      46,200
                                                                                     4,000
   Maintenance Supplies
   Elevator Maintenance                                                                                                            Proforma Yr 1 Mgt Fee:              -15789                 15,059
                                                                                     6,500              Management Fee:
   Redecorating                                                                                         (Amount entered here must match Property Mgt Fee amount shown in Year 1 of Proforma.)
   Other
                                                                                    28,000                                                                          per unit
                        Subtotal                                                                        TOTAL OPERATING EXPENSES                        3,268.91                                  183,059
   On-Site Security                                                                                     Replacement Reserve                              420.00     per unit                          23,520
   Contracted Guard
                                                                                      500
   Electronic Alarm System
                                                                                      500
                         Subtotal                                                                       TOTAL ANNUAL EXPENSES                                                                     206,579




                                          2008 OAH Funding Application - April                                                                                                                                 Part VI-Revenues & Expenses                           59 of 996
                                                Georgia Department of Community Af f airs                                                            2008 Funding Application      Of f ice of Af f ordable Housing




                                                      PART SIX - PROJECTED REVENUES & EXPENSES - 2008-020 Rosewood Estates, Cordele, Crisp County


V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                        VI.   DCA COMMENTS

T he Operating Subsidy is the USDA Interest Credit. T he calculation for this credit which is paid back to the owner on a
yearly basis is included in the application under T ab 28.



T he USDA Annual Guarnatee Fee is 50 basis points on 90% of the outstanding principal balance (Guaranteed Portion of
the Loan). It is set aside monthly on a pro-rata basis and paid by the owner to USDA on January 1 on the outstanding
principal and interest balance of the guaranteed portion of the loan at the end of the year. T his is treated as an operating
expense. Since the principal amount of the loan goes down every year, the Annual Guarantee Fee to the USDA goes down
every year. We have added this fee to this section since the expenses trend 3% up per year and that would be incorrect for
this fee. A copy of the calcualtion of this fee is included in the application under T ab 28.




                                                2008 OAH Funding Application - April                                                                 Part VI-Revenues & Expenses                           60 of 996
Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             2008 Funding Application                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Of f ice of Af f ordable Housing




                                                                                                                                                                                                                                    0 BR       1 BR       2 BR       3 BR       4 BR       5 BR                                                                        0 BR     1 BR     2 BR     3 BR     4 BR     5 BR      0 BR       1 BR       2 BR       3 BR       4 BR       5 BR      0 BR      1 BR      2 BR      3 BR      4 BR      5 BR      0 BR      1 BR      2 BR         3 BR       4 BR          5 BR      0 BR      1 BR      2 BR      3 BR      4 BR      5 BR       0 BR       1 BR       2 BR       3 BR       4 BR       5 BR
                                              2 BR       3 BR       4 BR       5 BR     Efficiency     1 BR        2 BR        3 BR        4 BR        5 BR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 Effic 60%   1 BR 60%    2 BR 60%    3 BR 60%    4 BR 60%    5 BR 60%    Effic 50%   1 BR 50%    2 BR 50%    3 BR 50%    4 BR 50%    5 BR 50%    Effic 30%   1 BR 30%    2 BR 30%    3 BR 30%    4 BR 30%    5 BR 30%    Effic 60%   1 BR 60%   2 BR 60%   3 BR 60%   4 BR 60%   5 BR 60%   Effic 50%   1 BR 50%   2 BR 50%   3 BR 50%   4 BR 50%   5 BR 50%   Effic 30%   1 BR 30%   2 BR 30%   3 BR 30%   4 BR 30%   5 BR 30%
                                            Adaptive   Adaptive   Adaptive   Adaptive    Adaptive     Adaptive    Adaptive    Adaptive    Adaptive    Adaptive   0 BR MF    1 BR       2 BR       3 BR       4 BR       5 BR      SF Det'd   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       5 BR      Duplex   Duplex   Duplex   Duplex   Duplex   Duplex   Townhom    Townhom    Townhom    Townhom    Townhom    Townhom    1-Story   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   2-Story   2-Story   3+ Story   3+ Story   3+ Story   3+ Story   3+ Story   3+ Story     HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME        HOME       HOME       HOME       HOME       HOME       HOME        HOME       HOME       HOME       HOME       HOME       HOME        HOME       HOME       HOME       HOME       HOME
                                             Reuse      Reuse      Reuse      Reuse     Reuse SF     Reuse SF    Reuse SF    Reuse SF    Reuse SF    Reuse SF      Units   MF Units   MF Units   MF Units   MF Units   MF Units    Units      Units      Units      Units      Units      Units     MH Units   MH Units   MH Units   MH Units   MH Units   MH Units    Units    Units    Units    Units    Units    Units    e Units    e Units    e Units    e Units    e Units    e Units    Units     Units     Units     Units     Units     Units     Units     Units     Units       Units       Units         Units     Wlkp      Wlkp      Wlkp      Wlkp      Wlkp      Wlkp      Units      Units      Units      Units      Units      Units      Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating     Fixed       Fixed      Fixed      Fixed      Fixed      Fixed      Fixed       Fixed      Fixed      Fixed      Fixed      Fixed      Fixed       Fixed      Fixed      Fixed      Fixed      Fixed
                                                                                                                                                                                                                                                                       9
                                                                                                                                                                                                                                                                                  1
                                                                                                                                                                                                                                                                                  2
                                                                                                                                                                                                                                                                      23
                                                                                                                                                                                                                                                                                  6
                                                                                                                                                                                                                                                                                  6
                                                                                                                                                                                                                                                                       4
                                                                                                                                                                                                                                                                                  1
                                                                                                                                                                                                                                                                                  1
                                                                                                                                                                                                                                                                       2
                                                                                                                                                                                                                                                                                  1




                                                                                                                                                                                                                                                                      38         18




2008 OAH Funding Application - April                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Part VI-Revenues & Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    61 of 996
Georgia Department of Community Af f airs   2008 Funding Application      Of f ice of Af f ordable Housing




2008 OAH Funding Application - April        Part VI-Revenues & Expenses                           62 of 996
Georgia Department of Community Af f airs   2008 Funding Application      Of f ice of Af f ordable Housing




2008 OAH Funding Application - April        Part VI-Revenues & Expenses                           63 of 996
Georgia Department of Community Af f airs   2008 Funding Application      Of f ice of Af f ordable Housing




2008 OAH Funding Application - April        Part VI-Revenues & Expenses                           64 of 996
  Georgia Department of Community Affairs                                         2008 Funding Application                                                                 Office of Affordable Housing


                                   PART SEVEN - OPERATING PRO FORMA - 2008-020 Rosewood Estates, Cordele, Crisp County

I. OPERATING ASSUMPTIONS                              Please Note:                  Purple-shaded cells are unlocked for your use and contain references/formulas that can be overwritten.
Revenue Growth            2.00%                       Asset Management Fee Amount                               5,000        Yr 1 Asset Mgt Fee Percentage of EGI:                 1.58%
Expense Growth            3.00%                       Incentive Management Fee Amount                           5,000        Yr 1 Incent Mgt Fee Percentage of EGI:                1.58%
Reserves Growth           3.00%                       Property Mgt Fee Growth Rate (choose one):                             Yr 1 Prop Mgt Fee Percentage of EGI:                  5.00%
Vacancy & Collection Loss 7.00%                          Expense Growth Rate (3.00%)                                No
Ancillary Income Limit    2.00%                          Percent of Effective Gross Income                         Yes --> If Yes, indicate actual percentage:                         5.000%

II. OPERATING PRO FORMA
Year                                  1           2               3                4                5                6                7                8                9               10
Revenues                       312,456     318,705         325,079          331,581          338,212          344,977          351,876          358,914          366,092          373,414
Ancillary Income                 6,249       6,374           6,502            6,632            6,764            6,900            7,038            7,178            7,322            7,468
Vacancy                        (22,309)    (22,756)        (23,211)         (23,675)         (24,148)         (24,631)         (25,124)         (25,626)         (26,139)         (26,662)
Other Income                    19,393      19,187          18,955           18,707           18,442           18,159           17,857           17,534           17,190           16,820
Expenses less Mgt Fee         (168,000)   (173,040)       (178,231)        (183,578)        (189,085)        (194,758)        (200,601)        (206,619)        (212,817)        (219,202)
Property Mgmt                  (15,789)    (16,076)        (16,366)         (16,662)         (16,964)         (17,270)         (17,582)         (17,900)         (18,223)         (18,552)
Reserves                       (23,520)    (24,226)        (24,952)         (25,701)         (26,472)         (27,266)         (28,084)         (28,927)         (29,794)         (30,688)
NOI                            108,480     108,169         107,776          107,303          106,749          106,110          105,380          104,554          103,630          102,598
D/S First Mortgage             (73,033)    (73,033)        (73,033)         (73,033)         (73,033)         (73,033)         (73,033)         (73,033)         (73,033)         (73,033)
D/S Second Mortgage                -           -               -                -                -                -                -                -                -                -
D/S Third Mortgage                 -           -               -                -                -                -                -                -                -                -
D/S Other Source                                               -                -                -                -                -                -                -                -
D/S Other Source                   -           -               -                -                -                -                -                -                -                -
DCA HOME Cash Resrv.
DDF                             (9,540)
Asset Mgmt                      (5,000)     (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)
Incentive Mgmt                  (5,000)     (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)
Cash Flow                       15,907      25,136           24,742           24,270           23,716           23,077           22,347           21,521           20,597           19,565
DCR First Mortgage                1.49        1.48             1.48             1.47             1.46             1.45             1.44             1.43             1.42             1.40
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
First Mortgage Balance         939,641     928,574         916,750          904,118          890,623          876,205          860,802          844,346          826,765          807,982
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                        -           -                 -                -                -                -                -                -                -                -




  2008 OAH Funding Application - April                                                  Part VII-Pro Forma                                                                                      65 of 996
  Georgia Department of Community Affairs                                         2008 Funding Application                                                                 Office of Affordable Housing


                                   PART SEVEN - OPERATING PRO FORMA - 2008-020 Rosewood Estates, Cordele, Crisp County

I. OPERATING ASSUMPTIONS                              Please Note:                  Purple-shaded cells are unlocked for your use and contain references/formulas that can be overwritten.
Revenue Growth            2.00%                       Asset Management Fee Amount                               5,000        Yr 1 Asset Mgt Fee Percentage of EGI:                 1.58%
Expense Growth            3.00%                       Incentive Management Fee Amount                           5,000        Yr 1 Incent Mgt Fee Percentage of EGI:                1.58%
Reserves Growth           3.00%                       Property Mgt Fee Growth Rate (choose one):                             Yr 1 Prop Mgt Fee Percentage of EGI:                  5.00%
Vacancy & Collection Loss 7.00%                          Expense Growth Rate (3.00%)                                No
Ancillary Income Limit    2.00%                          Percent of Effective Gross Income                         Yes --> If Yes, indicate actual percentage:                         5.000%

II. OPERATING PRO FORMA
Year                                 11          12              13               14               15               16               17               18               19               20
Revenues                       380,882     388,500         396,270          404,195          412,279          420,525          428,935          437,514          446,264          455,189
Ancillary Income                 7,618       7,770           7,925            8,084            8,246            8,410            8,579            8,750            8,925            9,104
Vacancy                        (27,195)    (27,739)        (28,294)         (28,860)         (29,437)         (30,025)         (30,626)         (31,238)         (31,863)         (32,501)
Other Income                    16,426      16,006          15,557           15,076           14,564           14,015           13,430           12,804           12,135           11,422
Expenses less Mgt Fee         (225,778)   (232,551)       (239,528)        (246,714)        (254,115)        (261,739)        (269,591)        (277,678)        (286,009)        (294,589)
Property Mgmt                  (18,887)    (19,227)        (19,573)         (19,925)         (20,283)         (20,646)         (21,016)         (21,391)         (21,773)         (22,161)
Reserves                       (31,609)    (32,557)        (33,534)         (34,540)         (35,576)         (36,643)         (37,743)         (38,875)         (40,041)         (41,242)
NOI                            101,457     100,201          98,824           97,317           95,678           93,897           91,968           89,885           87,638           85,222
D/S First Mortgage             (73,033)    (73,033)        (73,033)         (73,033)         (73,033)         (73,033)         (73,033)         (73,033)         (73,033)         (73,033)
D/S Second Mortgage                -           -               -                -                -                -                -                -                -                -
D/S Third Mortgage                 -           -               -                -                -                -                -                -                -                -
D/S Other Source                   -           -               -                -                -                -                -                -                -                -
D/S Other Source                   -           -               -                -                -                -                -                -                -                -
DCA HOME Cash Resrv.
DDF
Asset Mgmt                      (5,000)     (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)
Incentive Mgmt                  (5,000)     (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)
Cash Flow                       18,424      17,168           15,791           14,284           12,645           10,864            8,935            6,852            4,605            2,189
DCR First Mortgage                1.39        1.37             1.35             1.33             1.31             1.29             1.26             1.23             1.20             1.17
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
First Mortgage Balance         787,916     766,478         743,574          719,105          692,964          665,036          635,199          603,322          569,267          532,884
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                        -           -                 -                -                -                -                -                -                -                -




  2008 OAH Funding Application - April                                                  Part VII-Pro Forma                                                                                      66 of 996
  Georgia Department of Community Affairs                                           2008 Funding Application                                                                 Office of Affordable Housing


                                    PART SEVEN - OPERATING PRO FORMA - 2008-020 Rosewood Estates, Cordele, Crisp County

I. OPERATING ASSUMPTIONS                                Please Note:                  Purple-shaded cells are unlocked for your use and contain references/formulas that can be overwritten.
Revenue Growth            2.00%                         Asset Management Fee Amount                               5,000        Yr 1 Asset Mgt Fee Percentage of EGI:                 1.58%
Expense Growth            3.00%                         Incentive Management Fee Amount                           5,000        Yr 1 Incent Mgt Fee Percentage of EGI:                1.58%
Reserves Growth           3.00%                         Property Mgt Fee Growth Rate (choose one):                             Yr 1 Prop Mgt Fee Percentage of EGI:                  5.00%
Vacancy & Collection Loss 7.00%                            Expense Growth Rate (3.00%)                                No
Ancillary Income Limit    2.00%                            Percent of Effective Gross Income                         Yes --> If Yes, indicate actual percentage:                         5.000%

II. OPERATING PRO FORMA
Year                                 21            22              23               24               25               26               27               28               29               30
Revenues                       464,293       473,579         483,051          492,712          502,566          512,617          522,870          533,327          543,993          554,873
Ancillary Income                 9,286         9,472           9,661            9,854           10,051           10,252           10,457           10,667           10,880           11,097
Vacancy                        (33,151)      (33,814)        (34,490)         (35,180)         (35,883)         (36,601)         (37,333)         (38,080)         (38,841)         (39,618)
Other Income                    10,659         9,844           8,973            8,043            7,050            5,988            4,853            3,642            2,347              964
Expenses less Mgt Fee         (303,427)     (312,529)       (321,905)        (331,563)        (341,509)        (351,755)        (362,307)        (373,177)        (384,372)        (395,903)
Property Mgmt                  (22,554)      (22,954)        (23,360)         (23,771)         (24,189)         (24,613)         (25,042)         (25,478)         (25,919)         (26,366)
Reserves                       (42,480)      (43,754)        (45,067)         (46,419)         (47,811)         (49,246)         (50,723)         (52,245)         (53,812)         (55,426)
NOI                             82,627        79,843          76,863           73,677           70,274           66,643           62,775           58,657           54,276           49,621
D/S First Mortgage             (73,033)      (73,033)        (73,033)         (73,033)         (73,033)         (73,033)         (73,033)         (73,033)         (73,033)         (73,033)
D/S Second Mortgage                -             -               -                -                -                -                -                -                -                -
D/S Third Mortgage                 -             -               -                -                -                -                -                -                -                -
D/S Other Source                   -             -               -                -                -                -                -                -                -                -
D/S Other Source                   -             -               -                -                -                -                -                -                -                -
DCA HOME Cash Resrv.
DDF
Asset Mgmt                        (5,000)     (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)
Incentive Mgmt                    (5,000)     (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)          (5,000)
Cash Flow                           (406)     (3,190)          (6,170)          (9,356)         (12,759)         (16,390)         (20,258)         (24,376)         (28,757)         (33,412)
DCR First Mortgage                  1.13        1.09             1.05             1.01             0.96             0.91             0.86             0.80             0.74             0.68
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
First Mortgage Balance         494,014      452,487          408,122          360,724          310,086          255,988          198,191          136,444            70,477                   (0)
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                          -           -                 -                -                -                -                -                -                -                -




  2008 OAH Funding Application - April                                                    Part VII-Pro Forma                                                                                        67 of 996
  Georgia Department of Community Affairs                                          2008 Funding Application                                                               Office of Affordable Housing


                                   PART SEVEN - OPERATING PRO FORMA - 2008-020 Rosewood Estates, Cordele, Crisp County

I. OPERATING ASSUMPTIONS                               Please Note:                  Purple-shaded cells are unlocked for your use and contain references/formulas that can be overwritten.
Revenue Growth            2.00%                        Asset Management Fee Amount                               5,000        Yr 1 Asset Mgt Fee Percentage of EGI:                 1.58%
Expense Growth            3.00%                        Incentive Management Fee Amount                           5,000        Yr 1 Incent Mgt Fee Percentage of EGI:                1.58%
Reserves Growth           3.00%                        Property Mgt Fee Growth Rate (choose one):                             Yr 1 Prop Mgt Fee Percentage of EGI:                  5.00%
Vacancy & Collection Loss 7.00%                           Expense Growth Rate (3.00%)                                No
Ancillary Income Limit    2.00%                           Percent of Effective Gross Income                         Yes --> If Yes, indicate actual percentage:                         5.000%

II. OPERATING PRO FORMA
Year                                31          32               33               34               35
Revenues                       565,971     577,290          588,836          600,613          612,625
Ancillary Income                11,319      11,546           11,777           12,012           12,252
Vacancy                        (40,410)    (41,219)         (42,043)         (42,884)         (43,741)
Other Income
Expenses less Mgt Fee         (407,780)   (420,013)        (432,614)        (445,592)        (458,960)
Property Mgmt                  (26,844)    (27,381)         (27,928)         (28,487)         (29,057)
Reserves                       (57,089)    (58,802)         (60,566)         (62,383)         (64,254)
NOI                             45,167      41,421           37,462           33,279           28,865
D/S First Mortgage             (73,033)    (73,033)         (73,033)         (73,033)         (73,033)
D/S Second Mortgage                -           -                -                -                -
D/S Third Mortgage                 -           -                -                -                -
D/S Other Source                   -           -                -                -                -
D/S Other Source                   -           -                -                -                -
DCA HOME Cash Resrv.
DDF                             (9,540)      (9,540)          (9,540)          (9,540)          (9,540)
Asset Mgmt                      (5,000)      (5,000)          (5,000)          (5,000)          (5,000)
Incentive Mgmt                  (5,000)      (5,000)          (5,000)          (5,000)          (5,000)
Cash Flow                      (47,407)     (51,152)         (55,111)         (59,294)         (63,709)
DCR First Mortgage                0.62         0.57             0.51             0.46             0.40
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
First Mortgage Balance         (75,294)   (155,734)        (241,673)        (333,485)        (431,574)
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                        -         (9,723)         (19,855)         (30,413)         (41,416)




  2008 OAH Funding Application - April                                                   Part VII-Pro Forma                                                                                      68 of 996
   Georgia Department of Community Affairs                                              2008 Funding Application                                                               Office of Affordable Housing


                                            PART SEVEN - OPERATING PRO FORMA - 2008-020 Rosewood Estates, Cordele, Crisp County

I. OPERATING ASSUMPTIONS                                    Please Note:                  Purple-shaded cells are unlocked for your use and contain references/formulas that can be overwritten.
Revenue Growth            2.00%                             Asset Management Fee Amount                               5,000        Yr 1 Asset Mgt Fee Percentage of EGI:                 1.58%
Expense Growth            3.00%                             Incentive Management Fee Amount                           5,000        Yr 1 Incent Mgt Fee Percentage of EGI:                1.58%
Reserves Growth           3.00%                             Property Mgt Fee Growth Rate (choose one):                             Yr 1 Prop Mgt Fee Percentage of EGI:                  5.00%
Vacancy & Collection Loss 7.00%                                Expense Growth Rate (3.00%)                                No
Ancillary Income Limit    2.00%                                Percent of Effective Gross Income                         Yes --> If Yes, indicate actual percentage:                         5.000%

II. OPERATING PRO FORMA
III. Applicant Comments & Clarifications                                                                       IV. DCA Comments

The Defered Developer fee is paid back 100% in Year 1.




   2008 OAH Funding Application - April                                                      Part VII-Pro Forma                                                                                       69 of 996
           Georgia Department of Community Affairs                                                               2008 Funding Application                                                              Office of Affordable Housing
                                                                    PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                             DCA USE ONLY
      Preliminary Rating: Incomplete                                                                                                                                                        Applicant Response
                                                                                                                                                                                                                             Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
DCA's Comments / Approval Conditions:
1.)
2.)
3.)
4.)
5.)
6.)
7.)

1     Project Feasibility, Viability Analysis, and Conformance with Plan                                                                                                                                             Pass?

      A.   Are original preliminary financial commitments for all sources of financing included with this application submission?                                                  A.                 Yes
      B.   Do the preliminary commitments disclose, at a minimum, the purpose, property, address, amount, interest rate, terms, conditions, and fees?                              B.                 Yes
      C.   Do the terms of the commitments correspond to the Application?                                                                                                          C.                 Yes
      D.   Are any commitments submitted as "under consideration" which need Final Approval submitted before August 15, 2008?                                                      D.                 Yes
           If Yes, then state the applicable financial assistance/funding (select one):                                                                                                                             USDA
      E. Does this application include an Assumption of Existing Debt? If Yes:                                                                                                     E.                  No
         1) Does the application include a letter signed by an officer of the lender whose debt is being assumed?                                                                  1)                  No
         2) Does the application include a copy of the original Promissory Note and any amendments and/or modification to said Promissory Note?                                    2)                  No
         3) Does the application include a copy of the original Loan Agreement and any amendments and/or modification to said Loan Agreement?                                      3)                  No
         4) Does the application include a copy of the original Mortgage, Deed to Secure Debt, Deed of Trust or such other security instrument providing                           4)
            security for the loan, and any amendments and/or modification to said security instruments?                                                                                                No

      F. Is there a Deferred Developer Fee? If Yes:                                                                                                                                F.                 Yes
         1) Is the deferred Developer Fee payable within fifteen years from available cash flow?                                                                                   1)                 Yes
         2) Does the deferred Developer Fee exceed 50% of the total amount of Developer Fee at initial application?                                                                2)                 No
      G. Is there a guarantor fee?                                                                                                                                                 G.                 Yes
         If Yes, what is the amount?                                                                                                                                                                           325,000.00
     H. Debt Coverage Ratio:                                                                                                                                                 H.             Yr 1 = 1.49, Yr 15 = 1.31, Yr 20 = 1.17
      I. Total Development Cost Limit per the Unit Cost Limitation is:                                                                                                        I.                                     10,628,000.00
     J. Per unit waiver is included?                                                                                                                                                           J.                No
     K. Operating Cost Waiver Approval Letter From DCA is included?                                                                                                                           K.                 No
     L. Utility Allowances utilized (select one)                                                                                                            L.                                                                DCA
     M. If rehab, average per unit rehab is $:                                                                                                                               M.
     Applicant's comments regarding this section of Threshold:
1.D. The USDA Loan application has been submitted to Wayne Rogers at USDA and is under consideration. We hope to have our commitiment by July 31st. In an email dated May 23rd from Wayne Rogers to SunTrust, our USDA lender, Wayne indicated that
the USDA is not making a commitment that the loan will be approved or "USDA Award" by July 31st and that DCA is aware of this. A copy of the email is included in this application in Tabs 17 and 28.

1. G. The Guarntoor Fee is equal to 25% of the Developer Fee that is Earned by Paces Foundation. Paces Foundation is 100% owner of Cordele Rosewood Developer, LLC. A copy of the Consulting Agreement between Paces Foundation, Inc. and ETW Tax
Credit Consulting is included in this application in Tab 19.



      DCA's Comments:




           2008 OAH Funding Application - April                                                                  Part VIII-Threshold Criteria                                                                                    70 of 996
       Georgia Department of Community Affairs                                                                  2008 Funding Application                                                                     Office of Affordable Housing
                                                                  PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                                   DCA USE ONLY
    Preliminary Rating: Incomplete                                                                                                                                                               Applicant Response
                                                                                                                                                                                                                                   Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
2   Tenancy Characteristics                                                                                                                                                                                                Pass?

       This project is designated as:                                                                      Family                                                                                            Yes
    Applicant's comments regarding this section of Threshold:                                                                   DCA's Comments:



3   Required Services                                                                                                                                                                                                      Pass?

     A. Applicants must certify at Application Submission that they will designate the specific services and meet the additional policies related to services. Applicant
        understands that by by entering "Yes" into these boxes that the services must be provided and that all additional QAP policies related to Services must be followed.                                Agree
        Services can be changed only with the prior written consent of DCA. Does Applicant agree?
     B. Specify below at least 1 basic ongoing service selected from categories listed in QAP for Family projects, or at least 2 basic ongoing services selected 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)                 No
         3) After school or adult day care located on site                                                                                                                                       3)                 No
         4) Waiver (small rural projects only)                                                                                                                                                   4)
    Applicant's comments regarding this section of Threshold:
Community Management Services, Inc. ("CMS") will identify the needs of the community and provide Social and Recreational Programming. Some examples of programming that will be provided are the following: Birthday parties, Holiday Theme Parties,
Resident Forums, etc. CMS has been providing management and resident services to their communities since April 1994. Most of the programming will be provided by employees of CMS, but they will bring outside experts to assist as needed.




    DCA's Comments:




4   Market Feasibility                                                                                                                                                                                                     Pass?

     A. Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                                                                      A.                No
        If Yes, has there been any change in the unit mix or information submitted in the Pre-Application?
     B. Has Applicant included market information?                                                                                                                                         B.                Yes
        If Yes, then provide the name of the analyst used by applicant:                                                                                         Real Property Reasearch - Tad Scepaniak
    Applicant's comments regarding this section of Threshold:
The applicant hired Real Property Research to conduct a Market Demand Analysis in conformance with the Plan. A copy of the analysis is included in the application in Tab 8.




       2008 OAH Funding Application - April                                                                     Part VIII-Threshold Criteria                                                                                            71 of 996
      Georgia Department of Community Affairs                                                                   2008 Funding Application                                                                 Office of Affordable Housing
                                                                  PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                          DCA USE ONLY
    Preliminary Rating: Incomplete                                                                                                                                                               Applicant Response
                                                                                                                                                                                                                          Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
    Market Feasibility (continued)                                                                                                                                                                                Pass?
    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 tax credit value?
         2) Does the “as is” value delineate the value of the land and building?
         3) Does the total hard cost of the project exceed 90% of the as completed unencumbered appraised value of the property?
    Applicant's comments regarding this section of Threshold:




    DCA's Comments:




      2008 OAH Funding Application - April                                                                      Part VIII-Threshold Criteria                                                                                 72 of 996
       Georgia Department of Community Affairs                                                                    2008 Funding Application                                                                               Office of Affordable Housing
                                                                    PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                                           DCA USE ONLY
    Preliminary Rating: Incomplete                                                                                                                                                                          Applicant Response
                                                                                                                                                                                                                                           Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
6   Environmental Requirements                                                                                                                                                                                                     Pass?

    Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                                                                                         No
    Did the Applicant receive a DCA Noise Waiver?                                                                                                                                                         No
     A. Name of Consultant that prepared the Phase I Assessment:                                                                                       A. Rindt - McDuff Associates - Joe Hartline
     B. Was the original Phase I Environmental Report for the subject property prepared after November 1, 2007 in accordance with the new ASTM standards?                             B.                 Yes
     C. Is a Phase II Environmental Report included?                                                                                                                                 C.                   No
     D. Was a Noise Assessment performed?                                                                                                                                            D.                  Yes
         If "Yes", provide the maximum noise level on site in decibels:                                                                                                                            Less than 55dbs
         If "Yes", what are the contributing factors in decreasing order of magnitude?
         Crisp County Airport
     E. Is the subject property located in a:
          1) Brownfield?                                                                                                                                                              1)                  No
          2) 100 year flood plain / floodway?                                                                                                                                         2)                 Yes
              If "Yes", percentage of site that is within a floodplain:                                                                                                                                  40%
              If "Yes", will any development occur in the floodplain?                                                                                                                                     No
                  If "Yes", is documentation provided as per Threshold criteria?
          3) Wetlands?                                                                                                                                                                3)                  No
              If "Yes", enter the percentage of the site that is a wetlands:
              If "Yes", will any development occur in the wetlands?
                  If "Yes", is documentation provided as per Threshold criteria?
          4) State Waters/Streams area?                                                                                                                                               4)                  No
     F. Has the Environmental Professional identified any of the following on the subject property:
          1) Asbestos?                                   No                   3) PCB's?               No                 5) Lead in water?       No
          2) Lead-based paint?                           No                   4) Mold?                No                 6) Radon?               No
          7) Other (e.g., endangered species, Native American burial grounds, etc.):              N/A                                                                                                     No
     G. Is all additional environmental documentation required for a HOME application included?                                                                                                   G.                    N/A
         1) Eight-Step Process completed for Wetlands and/or Floodplains?                                                                                                                         1)
         2) Has Applicant/PE completed the HOME and HUD Environmental Questionnaire?                                                                                                              2)
         3) Owner agrees that they must refrain from undertaking any activities that could have an adverse effect on the subject property?                                                        3)
     H. If HUD approval has been previously granted, has the HUD Form 4128 been included?                                                                                                         H.                    N/A

    Applicant's comments regarding this section of Threshold:
The exisiting noise is within the accepatble range.

Our site has 15.6 acres of 100 year flood plain per the FEMA FIRM Map that was updated after the flood in the early 1990's. There will be no development activity in the 100 year flood plain. This is evident by our site plan.

The applicant had a wetland delineation performed and determined that there no jurisdictional wetlands on the site.



    DCA's Comments:




       2008 OAH Funding Application - April                                                                        Part VIII-Threshold Criteria                                                                                               73 of 996
       Georgia Department of Community Affairs                                                                    2008 Funding Application                                                               Office of Affordable Housing
                                                                   PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                          DCA USE ONLY
    Preliminary Rating: Incomplete                                                                                                                                                               Applicant Response
                                                                                                                                                                                                                          Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
7   Site Control                                                                                                                                                                                                  Pass?
     A. Is site control provided through September 30, 2008?                                                                                                                                            Yes
     B. Form of site control:                                                                                                                                                Contract/Option
     C. Name of Entity with site control:                                                                                                                        Cordele Rosewood Partners, LP
    Applicant's comments regarding this section of Threshold:
The applicant has site control through April 30, 2009
The Owner of the Land is Patenville Land Development, LP
    DCA's Comments:




8   Site Access                                                                                                                                                                                                   Pass?
     A. Is this site legally accessible by paved roads and are drawings included showing these roads?                                                                                                   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 completion of such paved road?
    Applicant's comments regarding this section of Threshold:



    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:
9.C. The site is zoned PDD which allows single family homes. This is evident by our zoning letter which is included in Tab 6.

    DCA's Comments:




10 Operating Utilities                                                                                                                                                                                            Pass?
    Check applicable utilities:                               Gas                                                                                                                                       Yes
                                                              Electric                                                                                                                                  Yes
     Applicant's comments regarding this section of Threshold:
Gas is available to our site and is provided by The City of Cordele, GA.
Electricity is available to our site and is provided by Crisp County Power Commission
     DCA's Comments:




       2008 OAH Funding Application - April                                                                       Part VIII-Threshold Criteria                                                                               74 of 996
       Georgia Department of Community Affairs                                                                      2008 Funding Application                                                             Office of Affordable Housing
                                                                     PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                          DCA USE ONLY
    Preliminary Rating: Incomplete                                                                                                                                                               Applicant Response
                                                                                                                                                                                                                          Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
11 Public Water/Sanitary Sewer/Storm Sewer                                                                                                                                                                        Pass?

     Is there a Waiver Approval Letter From DCA included in this application for this criterion as it pertains to Rural projects?                                                                       No
     Check all that are available to the site:                  Public water                                                                                                                            Yes
                                                                Public sewer                                                                                                                            Yes
                                                                Waiver                                                                                                                                  No
     Applicant's comments regarding this section of Threshold:
Public Water Service is available to our site and is provided by The City of Cordele, GA
Public Sewer Service is available to our site and is provided by The City of Cordele, GA
    DCA's Comments:




12 Required Amenities                                                                                                                                                                                             Pass?

     A. Applicant agrees to provide all required Project Amenities?                                                                                                                      A.             Agree
     B. Applicant agrees to provide the following required Project Amenities in conformance with the DCA Amenities Manual (select one in each category):                                 B.             Agree
        1) Community area (select either community room or community building):                                                                                          1) Building
        2) Exterior gathering area:                                                                                                                                      2) Gazebo
        3) On site laundry type:                                                                                                                           3) 1 washer and 1 dryer per every 25 units
        4) Equipped recreation area (specify and describe):                                                                                                4) Playground
     C. Applicant agrees to provide the following required Unit Amenities in conformance with the DCA Amenities Manual:                                                                  C.             Agree
        1) HVAC                                                                                                                                                                          1)              Yes
        2) Refrigerator (Energy Star rated)                                                                                                                                              2)              Yes
        3) Stove                                                                                                                                                                         3)              Yes
        4) Carbon Dioxide Fire Suppression system installed above the range cook top                                                                                                     4)              Yes
     D. Applicant agrees to provide the following additional required Amenities for Senior projects:                                                                                     D.
        1) Elevators are installed for access to all units above the ground floor.                                                                                                       1)
        2) Buildings more than two story construction have interior gathering areas in several locations in the lobbies and/or corridors                                                 2)
        3) 100% of the units are accessible and adaptable                                                                                                                                3)
           If No, was a waiver granted?
        4) All units are equipped with an installed call system, including a buzzer/bell and a light to the exterior.                                                                    4)
     E. Applicant agrees to provide the following three required Amenities for 4% Tax Credit projects, per the Amenities Guidebook:                                                      E.
         1) <<Select>>
         2) <<Select>>
         3) <<Select>>
    Applicant's comments regarding this section of Threshold:




    DCA's Comments:




       2008 OAH Funding Application - April                                                                          Part VIII-Threshold Criteria                                                                            75 of 996
       Georgia Department of Community Affairs                                                                   2008 Funding Application                                                       Office of Affordable Housing
                                                                   PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                 DCA USE ONLY
    Preliminary Rating: Incomplete                                                                                                                                                      Applicant Response
                                                                                                                                                                                                                 Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
13 Physical Needs Assessment (Rehabilitation Projects Only)                                                                                                                                              Pass?

     A.Type of rehab (choose one):                                                                                                                                            A.
     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 requirements as set forth in the      E.
       QAP and Manuals, and health and safety codes and requirements. Applicant agrees?
    Applicant's comments regarding this section of Threshold:




    DCA's Comments:




14 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
     C. Is the Desirable/Undesirable Certification included in this application with all supporting documentation as set forth in the QAP and Manual?                              C.          Yes
     D. If this is a 4% deal is the Desirable/Undesirable Certification included in this application?                                                                              D.
     Applicant's comments regarding this section of Threshold:
Applicant has included a copy of the typical landscape for the single family homes under Tab 13.
Applicant has included a Replacement Reserve Analysis for the project as required for Single Family under Tab 1.
Applicant has included a Detailed maintenance Plan for the project as required for Single Family under Tab 1.
    DCA's Comments:




15 Energy Standards                                                                                                                                                                                      Pass?

    Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                                                 No
     A. Does the project meet Georgia Energy Codes?                                                                                                                                A.          Yes
    B. Do the basic design and equipment meet the requirements of the Architectural Manual, including those for Energy Star rated appliances?                                      B.          Yes
    C. If a 4% deal, select 4 energy components for project, two (2) of which must contribute to the increased efficiency of the HVAC systems:                                     C.
        1) (Select an energy standard from options provided here)
        2) (Select an energy standard from options provided here)
        3) (Select an energy standard from options provided here)
        4) (Select an energy standard from options provided here)
    Applicant's comments regarding this section of Threshold:




    DCA's Comments:




       2008 OAH Funding Application - April                                                                      Part VIII-Threshold Criteria                                                                       76 of 996
     Georgia Department of Community Affairs                                                                    2008 Funding Application                                                          Office of Affordable Housing
                                                                  PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                   DCA USE ONLY
   Preliminary Rating: Incomplete                                                                                                                                                         Applicant Response
                                                                                                                                                                                                                   Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
16 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, American with Disabilities   A.
                                                                                                                                                                                                 Yes
      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 2008 Application Manual?                                   B.          Yes
   C. Are at least 5% of the total units equipped for the mobility disabled, including wheelchair restricted residents?                                                              C.          Yes
   D. Are at least 2% of the total units equipped for hearing and sight-impaired residents?                                                                                          D.          Yes
   Applicant's comments regarding this section of Threshold:




   DCA's Comments:




17 Architectural Design & Quality Standards                                                                                                                                                                Pass?

   Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                                                    No
   A. Does this application meet the Architectural Standards contained in the Application Manual for quality and longevity?                                                          A.          Yes
   B. If a 4% deal, are at least 4 upgraded exterior materials and finishes selected? At least one (1) must include upgrades to exterior finishes in the form of 40% masonry         B.
      for new construction, upgraded siding for new and existing buildings, and upgraded roofing materials. At least two (2) selections must be made from the Site Design
      criteria, one of which must include the preservation or replacement of existing trees and vegetation. Note: Options provided below are abbreviated. Applicant must
      refer to QAP for full definition of selections provided below.

       1) Select exterior material /finish upgrade choice from options provided here
       2) Select exterior material /finish upgrade choice from options provided here
       3) Select site design choice from options provided here
       4) Select site design choice from options provided here

   Applicant's comments regarding this section of Threshold:




   DCA's Comments:




     2008 OAH Funding Application - April                                                                       Part VIII-Threshold Criteria                                                                          77 of 996
     Georgia Department of Community Affairs                                                                     2008 Funding Application                                                                         Office of Affordable Housing
                                                                  PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                                    DCA USE ONLY
  Preliminary Rating: Incomplete                                                                                                                                                                          Applicant Response
                                                                                                                                                                                                                                    Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
18 Experience                                                                                                                                                                                                               Pass?

   Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                                                                                                  No
   Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                                                                    No
   A. Have all entities and individuals in the Owner and Developer organizational structure been identified on an organizational chart?                                           A.                Yes
      Please disclose any conflict of interest between the parties:
      Paces Foundation, Inc. is the sole memeber of the Cordele Rosewood Partners GP, LLC and Paces Foundation, Inc. is the sole memeber of the Cordele Rosewood Developer, LLC. Paces is 100% owner of both the GP and
      Developer LLC

   B. Is there a Development fee sharing arrangement between the Owner, Developer or any other party?                                                                                  B.                     Yes
      If Yes, disclose details in box below:
       Paces Foundation, Inc. has entered into a Consulating Agreement with ETW Tax Credit Consulting, LLC. Paces will pay ETW a fee equal to 25% of their portion of the development Fee for their consulting services. The fee
      sharing arangements are included in the Consulting Agreement which is included in the application in Tab 19.

   C. Is there any Guarantee Agreement?                                                                                                                                                C.                   Yes
      If Yes, disclose details in box below:
      Paces Foundation, Inc. has entered into a Consulting Agreement with ETW Tax Credit Consulting, LLC. Paces will pay ETW a fee equal to 25% of their portion of the development Fee for their guarantees. The fee sharing
      arangements are included in the Consulting Agreement which is included in the application in Tab 19.

   D. Please disclose all owner and development consultants, direct or indirect, paid or unpaid.
      Paces Foundation, Inc. has entered into a Consulting Agreement with ETW Tax Credit Consulting, LLC. Paces will pay ETW a total fee equal to 50% of their portion of the development Fee for ETW's consulting work and
      gurantees. The fee sharing arangements are included in the Consulting Agreement which is included in the application in Tab 19.

   E. This Application meets Owner Experience through (select one):                                                                                                                E. Partner
      1) Name of Experienced Owner, Partner or Consultant:                                                                                                                         1) Paces Foundation, Inc.
      2) Was this individual or entity determined to be experienced by DCA prior to 2008 Application Submission?                                                                                 2)              Yes
      3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership and operation of the project?               3)              Yes
    F. This Application meets Developer Experience through (select one):                                                                                                            F. Partner
       1) Name of Experienced Developer, Partner or Consultant:                                                                                                                     1) Paces Foundation, Inc.
       2) Was this individual or entity determined to be experienced by DCA prior to 2008 Application Submission?                                                                                 2)             Yes
       3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership and operation of the project?               3)             Yes
   G. This Application meets Manager Experience through (select one):                                                                                                              G. Manager
      1) Name of Experienced Manager, Partner or Consultant:                                                                                                                       1) Community Management Servcies, Inc.
      2) Was this individual or entity determined to be experienced by DCA prior to 2008 Application Submission?                                                                                2)               Yes
      3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership and operation of the project?              3)               No
   H. If the Owner or Developer is meeting DCA experience requirements through a consulting agreement with an experienced consultant, the Applicant must state the
           name of the property through which the Owner or Developer meets said requirements.                                                         Name of Property:
    I. Is the applicant applying to DCA under the Probationary Participation provision?                                                                                                           I.              No
   Applicant's comments regarding this section of Threshold:




   DCA's Comments:




     2008 OAH Funding Application - April                                                                        Part VIII-Threshold Criteria                                                                                          78 of 996
       Georgia Department of Community Affairs                                                                     2008 Funding Application                                                           Office of Affordable Housing
                                                                    PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                           DCA USE ONLY
    Preliminary Rating: Incomplete                                                                                                                                                        Applicant Response
                                                                                                                                                                                                                           Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
19 Eligibility for Credit under the Nonprofit Set-Aside                                                                                                                                                            Pass?

     A. Name of Qualified Nonprofit:                                                                                               A.                                                             Paces Foundation, Inc.
        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 whose tax-exempt
     B.                                                                                                                                                                              B.              Yes
        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.              Yes
     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.              Yes
     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 ownership   E.              Yes
        interest?
     F. Is a copy of the GP joint venture agreement that indicates the nonprofit's general partnership interest and developer fee amount included in the application?              F.                 Yes
    Applicant's comments regarding this section of Threshold:
The sole General partner is Cordele Rosewood GP, LLC, whose sole member is Cordele Services Corporation+A39 (Taxable Subsidiary) owned 100% by Paces Foundation, Inc., a 501(c)3. Cordele Servies Corporation owns 100% of the GP, LLC The sole
GP is 100% owned by a 501c3 corporation.



    DCA's Comments:




20 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 interest?            E.
     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 Fee          F.
       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:



    DCA's Comments:




21 Additional HOME/HUD Requirements                                                                                                                                                                                Pass?

    Is there a Pre-Determination Letter From DCA included in this application for HOME/HUD Site and Neighborhoos Standards?
     A. The Census Tract for the property is characterized as [Choose either Minority concentration (50% or more minority), Racially mixed (25% or more minority), or Non-
        minority (less than 25% minority)]:
          Please list all contiguous Census Tracts:
    B. Is Contract Addendum included in Application?
    Applicant's comments regarding this section of Threshold:




    DCA's Comments:




       2008 OAH Funding Application - April                                                                         Part VIII-Threshold Criteria                                                                               79 of 996
       Georgia Department of Community Affairs                                                                      2008 Funding Application                                                                      Office of Affordable Housing
                                                                    PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                                                        DCA USE ONLY
    Preliminary Rating: Incomplete                                                                                                                                                                   Applicant Response
                                                                                                                                                                                                                                        Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
22 Required Legal Opinions                                                                                                                                                                                                      Pass?
    State legal opinions included in                       A. Credit Eligibilty for Acquisition                                                                                             A.
    application using boxes provided.                      B. Credit Eligibilty for Assisted Living                                                                                         B.
                                                           C. Nonprofit Federal Tax Exempt Status                                                                                           C.                   Yes
                                                           D. Accessibility Standards                                                                                                       D.
                                                           E. Other (If Yes, then also describe):
    Applicant's comments regarding this section of Threshold:
The Non-profit Legal Opinion for Paces Foundation, Inc is included in tab 20. It was provided by Jeff Adams with Arnall Golden Gregory
    DCA's Comments:



23 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 months of
                                                                                                                                                                                                                Agree
        selection. I agree.
    B. Has Applicant registered all available affordable Housing Units previously funded by DCA on the Georgia Housing Search website?                                                                           Yes
    Applicant's comments regarding this section of Threshold:                                                               DCA's Comments:



24 Relocation and Displacement of Tenants                                                                                                                                                                                       Pass?
     A. Does the Applicant anticipate displacing or relocating any tenants?                                                                                                                 A.                    No
     B. Have the completed and executed tenant household data forms been submitted with the Application for every occupied unit in each building to be rehabilitated?                       B.
     C.                                                                                                                                                                                     C.
        Is a relocation plan (including a sufficient budget) that meets the requirements of the Uniform Relocation Act and any other applicable laws, included in the application?

     D. If the Applicant anticipates displacing tenants, did the Applicant include a detailed displacement plan which sets forth the specifics of the displacement, including a             D.
        projected budget and an explanation of efforts planned by the Applicant to mitigate the impact of the displacement?
     E. If the project has HOPE VI or other master relocation plans, were those plans submitted with their Application?                                                                      E.
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:




25 Compliance History Summary                                                                                                                                                                                                   Pass?
    Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                                                                                                 No
     A. Has the principal and entities of each General Partner, Developer, and project consultant(s) submitted a complete and correct DCA Compliance History Summary                       A.                     Yes
     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 Form)?                    D.                     Yes
    Applicant's comments regarding this section of Threshold:
25.B. The DCA Uniform Release Forms are not shown in the application checklist and the form itself no longer exists in the 2008 documents on DCA's website. Therefore, we have not included this in our applicztion. The 2008 Multi-state release forms have
been used by us for this purpose and are in our application in Tab 19.



    DCA's Comments:




       2008 OAH Funding Application - April                                                                         Part VIII-Threshold Criteria                                                                                             80 of 996
   Georgia Department of Community Affairs                                           2008 Funding Application                                                  Office of Affordable Housing
                                                 PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                   DCA USE ONLY
  Preliminary Rating: Incomplete                                                                                                                      Applicant Response
                                                                                                                                                                                   Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
    Additional Required Project Amenities for 4% Tax Credit Projects
    <<Select>>
    Microwave Oven in every unit
    In-sink disposal in every unit
    Built in dishwasher in every unit
    Installed call system in all units, including a buzzer and light to the exterior
    High-speed internet access
    Attractively fenced community gardens
    Equipped soccer field
    Tennis court
    Equipped walking path with exercise stations or sitting areas
    Retention pond / fountain
    Equipped playground
    Covered pavilion with picnic/barbecue facilities to encourage community or family reunion type functions
    Furnished Children’s Activity center
    Furnished Library
    Equipped Computer Center
    Furnished Exercise/Fitness Center
    Furnished sitting areas by elevators
    Swimming Pool
    Complete built-in fire sprinkler system in every unit and the community center, including an exterior audio and visual alarm system



    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
    Kitchen range hood ventilation to be ducted to the exterior and equipped with a damper
    Energystar ceiling fans in living rooms, sunrooms and all bedrooms
    Energystar bath exhaust fan with timer and humidistat control
    Front Loading washers in Community Laundry

    Landscaping and Site Design Features                                                          Exterior Wall Finishes and Major Building Component Materials and Upgrades
    <<Select preservation or substantial replacement of trees>>                                   <<Select exterior material /finish upgrade choice from options provided here>>
    <<Select site design choice from options provided here>>                                      All exterior wall faces have over 40% brick or stone
    Preservation of existing trees and vegetation                                                 Rehabilitation of buildings that are eligible for historic credits
   2008 OAH Funding Application - April                                               Part VIII-Threshold Criteria                                                                    81 of 996
   Georgia Department of Community Affairs                                              2008 Funding Application                                                          Office of Affordable Housing
                                                   PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                            DCA USE ONLY
  Preliminary Rating: Incomplete                                                                                                                                Applicant Response
                                                                                                                                                                                            Threshold Rating
FINAL THRESHOLD DETERMINATION (DCA Use Only)
    Substantial replanting of trees and integrated vegetation                                        Rehab of buildings not having over 40% existing brick or stone
    Site entry w/ permanent, illuminated entry sign and decorative fence                             Cementitious siding, hard stucco and/or wood siding
    Upgraded landscaping                                                                             Upgraded roofing shingles, or roofing materials
    Freestanding shelters                                                                            Upgraded windows and French doors with lever hardware
    Additional larger trees, seating and other shade plantings                                       Upgraded interior doors with lever hardware
    Interlocking porous paving components                                                            Upgraded interior cabinetry
    Low water landscaping                                                                            Upgraded flooring materials
    Rainwater harvesting system

    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
    Washers and dryers are installed and maintained in every unit at no additional cost to tenants Equipped playground (Must include minimum of three different pieces of equipment)
                                                                                                        Tot lot (fenced
    Installed call system in all units, including a buzzer and light to the exterior (basic amenity for senior projects)and equipped 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 pr
                                                                                                        Swimming Pool
                                                                                                        Furnished Exercise/Fitness Center
                                                                                                        Complete built-in fire sprinkler system in every unit and the community center, including an exterior audio and visu

      Additional Requirements and Amenities for Senior projects




   2008 OAH Funding Application - April                                                 Part VIII-Threshold Criteria                                                                            82 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




                Row size may be
                  increased.




                Row size may be
                  increased.



                Row size may be
                  increased.




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      83 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      84 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      85 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




                Row size may be
                  increased.




                Row size may be
                  increased.




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      86 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      87 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




                Row size may be
                  increased.




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      88 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




                Row size may be
                  increased.




                Row size may be
                  increased.




                Row size may be
                  increased.




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      89 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




                Row size may be
                  increased.




                Row size may be
                  increased.




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      90 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




                Row size may be
                  increased.




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      91 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




                Row size may be
                  increased.




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      92 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      93 of 996
Georgia Department of Community Affairs   2008 Funding Application       Office of Affordable Housing




2008 OAH Funding Application - April      Part VIII-Threshold Criteria                      94 of 996
                Georgia Department of Community Affairs            2008 Funding Application       Office of Affordable Housing




y or family reunion type functions
 onal media and recreational equipment)

every computer, and one computer and printer for every 25 units)


center, including an exterior audio and visual alarm system




                2008 OAH Funding Application - April               Part VIII-Threshold Criteria                      95 of 996
Georgia Department of Community Affairs                                                     2008 Funding Application                                                Office of Affordable Housing
                                                   PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                      Self
                                                                                                                                                                Score                Score DCA
                                                                                                                                                                Value                Value Score
                                                                                                                                                   TOTALS:       192                  148    8
 1. APPLICATION COMPLETENESS/ORGANIZATION                                                                                                                         8                    8     8
     A.   Missing or Incomplete Documents (Completeness)                     (points entered here will be subtracted from the score value)                         7            A.
     B.   Financial and Other Adjustments                                    (points entered here will be subtracted from the score value)                         0            B.
     C.   Organization                                                       (points entered here will be subtracted from the score value)                         1            C.

     Applicant's comments regarding this section of scoring:




     DCA's Comments:               Nbr of missing or incomplete documents:                     Nbr of financial adjustments/revisions requested:    Nbr of documents not organized correctly:




2008 OAH Funding Application - April                                                           Part IX-Scoring Criteria                                                                         96 of 996
Georgia Department of Community Affairs                                                      2008 Funding Application                                                     Office of Affordable Housing
                                                   PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                         Self
                                                                                                                                                                       Score            Score DCA
                                                                                                                                                                       Value            Value Score
                                                                                                                                                             TOTALS:    192              148    8
 2. DESIRABLE/UNDESIRABLE ACTIVITIES CHARACTERISTICS                                                                                                                     10              10     0
          (Applicants need to complete Desirable/Undesirable Certification form)

     A. Desirable Sites (1 pt each)                                                                                                                                    various     A.    10
     B. Undesirable Sites (1 pt subtracted for each - points entered here will be subtracted from the total score)                                                     various     B.    0
     Applicant's comments regarding this section of scoring:




     DCA's Comments:




 3. DEEPER TARGETING / RENT AND INCOME RESTRICTIONS                                                                                                                      10              10     0
     A.   50% Gross Rent Restrictions / 50% Income Restrictions:          Nbr units to have these restrictions:      12     Percent of Residential Units:     21.4%      10        A.    5
     B.   30% Gross Rent Restrictions / 30% Income Restrictions:          Nbr units to have these restrictions:      3      Percent of Residential Units:      5.4%       5        B.    5
     Applicant's comments regarding this section of scoring:




     DCA's Comments:




 4. MIXED INCOME PROJECTS                                                                                                                                                2               2
                                                                             Total market rate units:                6    Pct of Mkt to Residential Units:    10.7%
     Applicant's comments regarding this section of scoring:


     DCA's Comments:




2008 OAH Funding Application - April                                                           Part IX-Scoring Criteria                                                                       97 of 996
Georgia Department of Community Affairs                                                            2008 Funding Application                                            Office of Affordable Housing
                                                      PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                      Self
                                                                                                                                                                     Score           Score DCA
                                                                                                                                                                     Value           Value Score
                                                                                                                                                           TOTALS:   192              148    8
 5. QUALITY GROWTH INITIATIVES                                  See scoring criteria for further requirements and information                                         7                5     0
     A.   Infill and Smart Growth Rural Development                                                                                                                    3        A.    3
          Indicate Quality Growth Initiative to be used (choose one):                                                 Rural Smart Growth

          How does the      With frontage on Joe Wright Drive, the project will be on the exisiting road grid and utilize utilities in the right-of-way.
          site maximize
          the use of
          existing
          facilities and
          infrastructure?


          Describe Adjacent established       West - Pateville Estates
          occupied residential
          development:


          Additional information for Infill Option:

          Indicate Infill Type (choose one):                                                                    New Construction
          Describe Adjacent established      North - Single Family Homes, West -Pateville Estates, East - Single Family Homes
          development that is on all but
          one side of development:


     B.   Community Transportation Options                      (choose only one)                                                                                      2        B.    2      0
      1. Rapid Transit Authority (choose only one) :            Transit Oriented Development                                            OR                             2        1.
                                                                Adjacent to a rapid rail transit station                                                               2
      2. Bus (choose only one):                                 Bus route with defined, regularly scheduled bus service                 OR                             2        2.
                                                                “On call” bus system (for Majority Special Needs projects)                                             2
      3. “On call” bus system (Rural)                                                                                                                                  2        3.    2
     C.   Economic Investment Areas                             County:                                               << Select one >>                                 2        C.

     Applicant's comments regarding this section of scoring:




     DCA's Comments:




2008 OAH Funding Application - April                                                                  Part IX-Scoring Criteria                                                            98 of 996
Georgia Department of Community Affairs                                                          2008 Funding Application                                                            Office of Affordable Housing
                                                   PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                    Self
                                                                                                                                                                                  Score            Score DCA
                                                                                                                                                                                  Value            Value Score
                                                                                                                                                                   TOTALS:         192              148    8
 6. REDEVELOPMENT AND REVITALIZATION STRATEGIES                                                                                                                                     15                6        0
     A. Difficult to Develop Sites                                                                                                                                                   5
      1. State EZ, Federal EC or a HUD or USDA EZ or a Renewal Community:                                      USDA Empowerment Zone                                                 2        1.      2
      2. Difficult Development Area or Qualified Census Tract :                                                Qualified Census Tract                                                3        2.      3
     B. Community Redevelop/Revitalization Plans and Strategies                                 Name of Plan:                                                                         3       B.
      1. Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                                                                             Applicant DCA
      2. Indicate whether the Community Redevelop/Revitalization Plan includes the following:                                                                                                      Yes / No Yes / No
                                                       a) A discussion of potential sources of funding for the plan                                                                           a)
                                                       b) A clearly delineated target area that includes the proposed project site                                                            b)
                                                        c) Detailed policy goals (one of which must be housing)                                                                               c)
                                                       d) Implementation measures along with specific time frames for the achievement of such policies and housing activities                 d)
                                                       e) A copy of the entire plan must be included in the Application.                                                                      e)
                                                        f) Evidence that the proposed development project supports at least one of the goals of the redevelopment or revitalization plan      f)

     C.   PHA Community Building Initiative                    Investment Type:                                << Select one>>                                                       6        C.      0
     D.   DCA Community Initiatives                            Project site is in:                             Georgia Mainstreet Community                                          1        D.      1
     Applicant's comments regarding this section of scoring:




     DCA's Comments:




 7. ADAPTIVE REUSE AND BROWNFIELD / GREYFIELD REDEVELOPMENT                                                                                                                          6                0        0
     A.   Adaptive Reuse of entire existing building           (with Physical Needs Assessment and supporting documentation)                                                         2        A.      0
     B.   Brownfields Redevelopment                            (With EPA/EPD Documentation)                                                                                          2        B.      0
     C.   Greyfields Redevelopment                             (with supporting documentation)                                                                                       2        C.      0
     Applicant's comments regarding this section of scoring:



     DCA's Comments:




2008 OAH Funding Application - April                                                              Part IX-Scoring Criteria                                                                                  99 of 996
Georgia Department of Community Affairs                                                         2008 Funding Application                                                            Office of Affordable Housing
                                                     PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                   Self
                                                                                                                                                                                  Score           Score DCA
                                                                                                                                                                                  Value           Value Score
                                                                                                                                                                        TOTALS:   192              148    8
 8. PREVIOUS PROJECTS / PHASED PROJECTS                                                                                             (choose only one)                              6                6     0
     A.   Proposed development site is w/in boundaries of a Local Govt in which a 9% Credit, 4% Credit and/or HOME project not awarded w/in last three (3) DCA funding cycles       6        A.    6
     B.   Proposed project is part of a Master Planned Community in which one or more phases received an allocation of 9% tax credits                                               5        B.    0
     C.   Proposed development site is w/in boundaries of a Local Govt in which a 9% Credit, 4% Credit and/or HOME project not awarded w/in last two (2) DCA funding cycles         4        C.    0
     D.   Proposed development site is w/in boundaries of a Local Govt in which a 9% Credit project not awarded w/in last three (3) DCA funding cycles                              3        D.    0
     Applicant's comments regarding this section of scoring:

     DCA's Comments:



 9. WAIVER OF QUALIFIED CONTRACT RIGHT OR TENANT OWNERSHIP PLAN                                                                     (choose only one)                               1              1
     A.   The owner is willing to forgo the cancellation option after the close of the compliance period for at least five (5) years:                                                        A.   Yes
     B.   Tenant ownership plan                                                                                                                                                              B.   No
     Applicant's comments regarding this section of scoring:




     DCA's Comments:




 10. PRESERVATION OF EXISTING AFFORDABLE HOUSING                                                                                    (choose either A or B for points)              10              0        0
     A.   Application proposes the preservation of an affordable housing project with low-income housing tax credits where the credit period has ended.                             5        A.
          Application proposes the preservation of an affordable housing project with low-income housing tax credits which are beyond the 14th year of the compliance period.       5
     B.   Application proposes the preservation of a HUD funded or USDA funded affordable non-public housing project.                                                               5        B.
          Application proposes the preservation of a project that currently has a Project Based Section 8 contract but is eligible to opt out.                                      1
     Applicant's comments regarding this section of scoring:




     DCA's Comments:




2008 OAH Funding Application - April                                                              Part IX-Scoring Criteria                                                                              100 of 996
Georgia Department of Community Affairs                                                         2008 Funding Application                                                               Office of Affordable Housing
                                                      PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                         Self
                                                                                                                                                                                   Score                Score DCA
                                                                                                                                                                                   Value                Value Score
                                                                                                                                                                     TOTALS:        192                  148    8
 11. HISTORIC DESIGNATION                                                                                                                                                             4
       A. Has the Applicant received a Historic Designation for the subject property?                                                                                                              A.    No
       B. Federal Historic Credits have or will be submitted?                                                                                                                                      B.    No
      Applicant's comments regarding this section of scoring:



      DCA's Comments:




 12. SPECIAL NEEDS TARGETED UNITS                               (choose only one)                                                                                                    10                   3         0
      Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                                                        No
       A. Name of Service Provider                                                                                                              A. Crisp County Department of Family and Children Services
       B. Is Service Provider approved by DCA?                                                                                                                                                      B.   Yes
          Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                                                                                   Yes
       C. Number of Units that are:                      1. 30% Rent Restricted:                                                                                                                    1.     3
                                                         2. PBRA-assisted:                                                                                                                          2.
       D. Developments with a Portion of Units Designated as Targeted                                 Nbr Trgtd Units in Set Aside     3           Pct of Tot Units:   5.4%            3           D.      3
       E. Developments w/ Majority of Units Designated for Targeted Population Tenants              Nbr Trgtd Units in Set Aside       0           Pct of Tot Units:   0.0%           10            E.     0
      Applicant's comments regarding this section of scoring:
 Applicant has (3) 30% Rent Restricted Units under the deeper targeting section. These units will be used for the Special Needs Targeted Units.


      DCA's Comments:




 13. CHDO / NONPROFIT                                           (choose only one)                                                                                                     3                   3         0
       A. Name of CHDO:                                                                                                                         A. Paces Foundation, Inc.
       B. GP is at least 51% owned by Georgia CHDO and is both applying and eligible for the HOME CHDO Loan Program set-aside                                      OR                 3            B.     0
          GP comprised of 100% nonprofit organizations and the project is applying for and is eligible for the nonprofit set-aside                                 OR                 3                   3
      C. GP is for-profit entity partnering with a nonprofit that is applying (and eligible) under the Plan’s Credits nonprofit set-aside                                             1  C.               0
     Applicant's comments regarding this section of scoring:
 The sole General Partner is Cordele Rosewood GP, LLC, whose sole member is Cordele Service Corporation (Taxable Subsidiary) owned 100% by Paces Foundation, Inc., a 501(c)3. Cordele Service Corporation owns
 100% of the GP, LLC. The sole GP is 100% owned by a 501c3 corporation.



      DCA's Comments:




 14. RURAL PROJECTS                                            (75 units or less)                                                                                                     4                  4
     Applicant's comments regarding this section of scoring:                                                                         DCA's Comments:
 Documentation that the project is in a Rural area is in Tab 1.




2008 OAH Funding Application - April                                                                Part IX-Scoring Criteria                                                                                    101 of 996
Georgia Department of Community Affairs                                                          2008 Funding Application                                                              Office of Affordable Housing
                                                      PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                         Self
                                                                                                                                                                                     Score              Score DCA
                                                                                                                                                                                     Value              Value Score
                                                                                                                                                                          TOTALS:    192                 148    8
 15. LOCAL GOVERNMENT SUPPORT                                                                                                                                                         5                  3       0
      A. Name of Community:                                                                                                                    A. City of Cordele, GA
      B. Local Government adopts resolution of support for the proposed project                                             OR (choose only one)                                       3           B.    3
         Letter from the elected official if Local Government is governed by only one elected official (as specified in its Charter)                                                   3
      C. Project has a letter from a designated DCA Signature Community clearly identifying the project as indicative of the community’s affordable housing goals.                     2           C.

     Applicant's comments regarding this section of scoring:




     DCA's Comments:




 16. FINANCIAL ASSISTANCE / LEVERAGING OF RESOURCES / REDUCTION OF RISK                                                                                                               11                 10      0
      A. On Site                                                                                                                                                                      10                 10      0
               1.            Indicate applicable General Conditions met by the assistance or resources:                                                  Applicant         DCA
                                                                                                                                                         Yes / No         Yes / No
                       a)    Funding or assistance provided will be binding and unconditional except as set forth in this section.             a)          Yes
                       b)    Funding or assistance must be from an unrelated party.                                                            b)          Yes
                       c)    Resources will be utilized if the project is selected for funding by DCA.                                         c)          Yes
                       d)    Loans are for both construction and permanent phases and are for a minimum period of ten years.                   d)          Yes
                       e)    Government loan guarantees and/or mortgage insurance for loans meet these terms.                                  e)          Yes
                       f)    Loans are cash flow or below AFR.                                                                                 f)          No
                       g)    Project-based rental assistance is not used for points in this section.                                           g)          No
                       h)    Costs associated w/ waiver of zoning and/or building code reqmts not used for points in this section.             h)          No
                        i)   Reductions in annual operating costs occur in each of the first 10 years.                                          i)         N/a
                        j)   DCA Permanent Supportive Housing Loan is for project that qualifies as “majority” special need project.            j)         N/a

                2.           Indicate Qualifying Resource(s) used and provide detail below:                                         LG: USDA 538                                     Provide amount:

                       a) Government:                          Type:                                                           a)
                                                               Jurisdiction Name:

                                                               Resource Name:                                                                        If Other, specify:
                                                               Resource Type:
                                                               If resource type is cost reduction, specify:
                                                               If cost reduction type is Other, specify:

                                                               Additional Resource Name:                                                             If Other, specify:
                                                               Resource Type:
                                                               If resource type is cost reduction, specify:
                                                               If cost reduction type is Other, specify:

                       b) DCA HOME or PSH HOME:                Project is:                                                     b)
                                                               PSH Loan?
                                                               Resource Type:




2008 OAH Funding Application - April                                                                Part IX-Scoring Criteria                                                                                  102 of 996
Georgia Department of Community Affairs                                                        2008 Funding Application                                                              Office of Affordable Housing
                                                   PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                      Self
                                                                                                                                                                                   Score             Score DCA
                                                                                                                                                                                   Value             Value Score
                                                                                                                                                                  TOTALS:          192                148    8
                 2.       Indicate Qualifying Resource(s) used (continued) :                                                                                                       Provide amount:
                        c) Unrelated 3rd party:             Name (Foundation or trust):                                     c)
                                                            Resource Type:
                                                            If resource type is cost reduction, specify:
                                                            If cost reduction type is Other, specify:
                        d) Federal Home Loan Bank AHP: Resource Type:                                                       d)
                        e) Local PHA:                       Resource Name:                                                  e)
                                                            If Other PHA resources, specify:
                                                            Resource Type:
                                                            Development Cost reduction type:
                                                            If cost reduction type is Other, specify:
                                                            Operating Cost reduction type:
                                                            If cost reduction type is Other, specify:
                        f) USDA 515 Loan in form of:                                                                         f)
                        g) Loan Guarantee:                  Type:                                                           g) USDA 538          Amt of underlying insured loan:         950,000

          Urban Areas     3% but less than 6% of total project development cost and/or average annual operating cost reduction                                                       4
                          Greater than or equal to 6% but less than 10% of total project development cost and/or average annual operating cost reduction                             6
                          10% or more of total project development cost and/or average annual operation cost reduction                                                              10
          Rural Areas     3% but less than 6% of total project development cost and/or average annual operating cost reduction                                                       6
                          Greater than or equal to 6% of total project development cost and/or average annual operating cost reduction                                              10                10
       B. Off Site        Unrelated third-party entity type:                                                                                                                         1
                          Name of entity:
                          Resource Description and Amount:
                          Describe Improvement, Amenity and Facility Investment:
                          Investment is not community wide, part of community local action plan nor will it be developed regardless of proposed project?
                          Is there a Pre-Determination Letter From DCA included in this application for this criterion?
     Applicant's comments regarding this section of scoring:
 We have calculated the percentage of the loan subsidies for Financial Assistance at 9.21% ($950,000 / $10,308,395)




     DCA's Comments:




2008 OAH Funding Application - April                                                             Part IX-Scoring Criteria                                                                                  103 of 996
Georgia Department of Community Affairs                                                         2008 Funding Application                                                                      Office of Affordable Housing
                                                     PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                               Self
                                                                                                                                                                                          Score               Score DCA
                                                                                                                                                                                          Value               Value Score
                                                                                                                                                                          TOTALS:          192                 148    8
 17. OPTIONAL AMENITIES                                                                                                                                                                      20                 20
     Is there a Pre-Determination Letter From DCA included in this application for this criterion?                        No
     Is there a Waiver Approval Letter From DCA included in this application for this criterion?                          No                     Total Points selected by Applicant:         20
          List optional amenities below and points associated with each item (amenities selected to satisfy basic amenities are not eligible for points). See scoring criteria for additional information.
          Unit Amenities - for a minimum of six (6) points (See scoring criteria)                Point Value Site Amenities (must be suitable for tenant base)                                               Point Value
          Microwave Oven in every unit                                                                2          Attractively fenced community gardens                                                            2

          In-sink disposal in every unit                                                                 2         Equipped walking path with exercise stations or sitting areas                                 2

          Built in dishwasher in every unit                                                              2         Covered pavilion with picnic/barbecue facilities                                              2

          (Select a unit amenity from options provided here)                                                       Furnished Children’s Activity center                                                          2

          (Select a unit amenity from options provided here)                                                       Furnished Library                                                                             2

                                                                                                                   Equipped Computer Center                                                                      2
          Other Optional Amenities as approved by DCA                                                Point Value

                                                                                                                   Furnished Exercise/Fitness Center                                                             2

                                                                                                                   <<Select>>

                                                                                                                   <<Select>>

                                                                                                                   <<Select>>

                                                                                                                   <<Select>>

                                                                                                                   <<Select>>

     Applicant's comments regarding this section of scoring:
 We have elected to provide an Equipped Walking Path with Benches every 100 feet. This is evident on our conceptual site plan which is included in this application in Tabs 8, 10 and 13




     DCA's Comments:




2008 OAH Funding Application - April                                                               Part IX-Scoring Criteria                                                                                           104 of 996
Georgia Department of Community Affairs                                                           2008 Funding Application                                                         Office of Affordable Housing
                                                     PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                   Self
                                                                                                                                                                                 Score            Score DCA
                                                                                                                                                                                 Value            Value Score
                                                                                                                                                                       TOTALS:   192               148    8
 18. ARCHITECTURAL ENHANCEMENTS                                                                                                                                                   43               41     0
      A. Energy Efficiency and Indoor Air Quality Requirements                                  (See Scoring Criteria for complete requirements and information)                  14               14       0
         Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                     No
                1a.       EPA Energy Star Program construction and certification:               OR                                                                                10       1a.
                1b.       Southface Energy Institute's Earth Craft House construction and certification                                                                           14       1b.
                1c.       Enterprise Foundation's Green Communities standard of construction and certification                                                                    14       1c.
                1d.       US Green Building Council's LEED For Homes construction and certification                                                                               14       1d.
                 2.       Exterior envelope wall systems insulation                                                                                                                2        2.
                 3.       Attic insulation to R-38                                                                                                                                 2        3.     2
                 4.       ARI rated furnace (90% AFUE) or heat pump (HSPF 8.0 for both HP 2 ton and HP 1.5 ton units)                                                              4        4.     4
                 5.       ARI rated SEER 14 cooling equipment with sensible heat ratio less than 0.75                                                                              4        5.     4
                 6.       Locate HVAC ductwork in condtitioned spaces                                                                                                              2        6.
                 7.       Installation of two low flow fixtures (must incl toilet and showerhead to qualify for utility self billing option)                                       2        7.     2
                 8.       Installation of Energystar "Advanced Lighting Package' throughout the property                                                                           2        8.
                 9.       HVAC system designed for controlled introduction of outside air per ASHRAE 62.2                                                                          2        9.
                10.       Common area lighting with Energystar rating and controls                                                                                                 2       10.
                11.       Combustion equipment located in sealed space with outside ventilation                                                                                    2       11.
                12.       Range hood ventilated to the exterior with damper                                                                                                        2       12.
                13.       Energystar ceiling fans in living rooms, sunrooms and all bedrooms                                                                                       2       13.
                14.       Energystar bath exhaust with timer and humidistat control                                                                                                2       14.
                15.       Front Loading washers in Community Laundry                                                                                                               2       15.     2
                16.       Other - describe:                                                                                                                                        2       16.
                17.       Other - describe:                                                                                                                                        2       17.
                18.       Other - describe:                                                                                                                                        2       18.
      B. Sustainable Communities Certification                                                      (See Scoring Criteria for complete requirements and information)               2        B.
      C. Project Design                                                                         (See Scoring Criteria for complete requirements and information)                  20               20       0
         Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                     No
                 1        Exterior Wall Finishes                                                                                                                                   4               4        0
                       a. Exterior wall faces have more than 40% masonry on all sides of building                                                                                  4        a.     4
                       b. Rehabilitation of historic structures that elect to maintain/restore exterior wall finishes                                                              4        b.
                        c. Rehabilitation of buildings (with no masonry) that elect to upgrade all exterior finishes                                                               4        c.

                 2        Attractive Features                                                                                                                                      4               4        0
                       a. Recreation of historic decorative elements on historic (non-designated) buildings                                                                        2        a.
                       b. Addition of decorative exterior elements for new and existing buildings                                                                                  2        b.     2
                        c. Addition or redesign of covered building entries for new and existing buildings                                                                         2        c.     2
                       d. Addition or redesign of attractive stair/railings for new and existing buildings                                                                         2        d.

                 3        Major Building Component Materials and Upgrades                                                                                                          4               4        0
                       a. Cementitious siding, hard stucco or wood siding exterior finishes                                                                                        2        a.     2
                       b. Upgraded roofing materials                                                                                                                               2        b.     2
                        c. Upgraded windows and french doors with lever hardware throughout the property                                                                           2        c.
                       d. Upgraded interior doors with lever hardware throughout the property                                                                                      2        d.
                       e. Upgraded interior cabinetry throughout the property                                                                                                      1        e.
                        f. Upgraded flooring materials throughout the property                                                                                                     1         f.


2008 OAH Funding Application - April                                                                 Part IX-Scoring Criteria                                                                           105 of 996
Georgia Department of Community Affairs                                                          2008 Funding Application                                                        Office of Affordable Housing
                                                      PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                                 Self
                                                                                                                                                                               Score            Score DCA
                                                                                                                                                                               Value            Value Score
                                                                                                                                                                     TOTALS:   192               148    8
      C. Project Design (continued)                                                               (See Scoring Criteria for complete requirements and information)
                 4          Landscaping and Ste Design Features                                                                                                                  8               8       0
                         a. Site entry(ies) delineated with permanent illuminated sign and decorative fencing                                                                    2        a.     2
                         b. Upgraded landscaping at areas of community usea.                                                                                                     2        b.     2
                         c. Freestanding site shelters in addition to the basic requirements - describe:                                                                         2        c.     2
                         d. Additional larger trees, shade plantings and seating at recreational/community use areas                                                             2        d.     2
                         e. 50% of property (100% of sidewalks) to have porous paving                                                                                            4        e.
                         f. Xeriscaping, areas for native plantings or low water landscaping                                                                                     2         f.
                         g. Reuse of site water run-off for landscaping irrigation                                                                                               4        g.
                         h. Preservation of existing trees and vegetation within the body of the site OR:                                                                        2        h.
                            Substantial replanting of tress and vegetation where none are existing or can be preserved.                                                          2
                 5          Other Project Design Options not listed above
                         a. Other - describe:                                                                                                                                    2        a.
                         b. Other - describe:                                                                                                                                    2        b.
                         c. Other - describe:                                                                                                                                    2        c.

      D. Accessibility                                                                            (See Scoring Criteria for complete requirements and information)               7               7      0
               1.          Three third-party construction inspections                                                                                                            5        1.     5
                2.         Third-Party Report from review of construction documents per DCA template and requirements                                                            2        2.     2
                3.         Additional 2% of the units equipped for the mobility impaired (to include a roll-in shower)                                                           2        3.     0
                4.         All units equipped for the disabled to include front loading washers and dryers                                                                       2        4.     0
                5.         Maximum length of travel from all first floor units to the parking areas designated for the disabled does not exceed 200'                             2        5.     0
                6.         All units on all floors shall be modified to be 'visitable' according to the FHA Standards (Senior properties not eligible)                           2        6.     0
     Applicant's comments regarding this section of scoring:




     DCA's Comments:




2008 OAH Funding Application - April                                                               Part IX-Scoring Criteria                                                                          106 of 996
Georgia Department of Community Affairs                                                        2008 Funding Application                                                       Office of Affordable Housing
                                                    PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                                              Self
                                                                                                                                                                           Score             Score DCA
                                                                                                                                                                           Value             Value Score
                                                                                                                                                              TOTALS:       192               148    8
 19. READINESS TO PROCEED                   (choose one)                                                                                                                     2                 1     0
     A.   Original building permit obtained, dated appropriately                                                                                                             2          A.
     B.   Original letter from the Local Government referencing project’s name, address, nbr of units and, if building permit released, permit number                        1          B.       1
     Applicant's comments regarding this section of scoring:



     DCA's Comments:




 20. COMPLIANCE HISTORY STATUS                                                                                                                                               15               15         0
     Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                                                                               No
     A.   Owner/Developer                                                                                                                                                               A.       15
     B.   Manager (Pass or Fail)                                                                                                                                                        B.   Pass
    Applicant's comments regarding this section of scoring:
 Community Management Services is listed on the PASS list for Managers for 2008. This list is included in our application in Tab 19.




     DCA's Comments:




                                                                                                TOTAL POSSIBLE SCORE                                                       192               148         8



          (Select a unit amenity from options provided here)                                                                     (Select an amenity from options provided here)
          Microwave Oven in every unit                                                                                           <<Select>>
          In-sink disposal in every unit                                                                                         Attractively fenced community gardens
          Built in dishwasher in every unit                                                                                      Equipped soccer field
          Installed call system in all units                                                                                     Tennis court
          High-speed internet access No Cost                                                                                     Equipped walking path with exercise stations or sitting areas
          High-speed internet access Low Cost                                                                                    Retention pond/Fountain
                                                                                                                                 Equipped playground
2008 OAH Funding Application - April                                                             Part IX-Scoring Criteria                                                                             107 of 996
Georgia Department of Community Affairs                                       2008 Funding Application                                             Office of Affordable Housing
                                          PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County
                                                                                                                                                                Self
                                                                                                                                                Score          Score DCA
                                                                                                                                                Value          Value Score
                                                                                                                                     TOTALS:     192            148    8
         <<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)




2008 OAH Funding Application - April                                           Part IX-Scoring Criteria                                                              108 of 996
                 Georgia Department of Community Affairs      2008 Funding Application    Office of Affordable Housing




                                                X




                                            Row size may be
                                              increased.
Nbr of documents not organized correctly:


                                            Row size may be
                                              increased.




                 2008 OAH Funding Application - April          Part IX-Scoring Criteria                     109 of 996
Georgia Department of Community Affairs      2008 Funding Application    Office of Affordable Housing




                               X




                           Row size may be
                             increased.



                           Row size may be
                             increased.




                               X




                               X




2008 OAH Funding Application - April          Part IX-Scoring Criteria                     110 of 996
Georgia Department of Community Affairs      2008 Funding Application    Office of Affordable Housing




                               X




                           Row size may be
                             increased.




                           Row size may be
                             increased.



                           Row size may be
                             increased.




2008 OAH Funding Application - April          Part IX-Scoring Criteria                     111 of 996
Georgia Department of Community Affairs      2008 Funding Application    Office of Affordable Housing




                               X




                           Row size may be
                             increased.


                           Row size may be
                             increased.


                               X




2008 OAH Funding Application - April          Part IX-Scoring Criteria                     112 of 996
Georgia Department of Community Affairs      2008 Funding Application    Office of Affordable Housing




                               X




                               X




                               X




                           Row size may be
                             increased.

                           Row size may be
                             increased.




2008 OAH Funding Application - April          Part IX-Scoring Criteria                     113 of 996
Georgia Department of Community Affairs   2008 Funding Application    Office of Affordable Housing




                               X




                               X




                               X




                               X




2008 OAH Funding Application - April       Part IX-Scoring Criteria                     114 of 996
Georgia Department of Community Affairs                          2008 Funding Application                                                       Office of Affordable Housing




                               X




                               X




                                          Qualifying Resource:          Federal Govt, State Govt, Local Govt, DCA HOME Loan, DCA PSH HOME Loan, Unrelated Third Party, FHLB AHP, Local PHA, USDA 51
                                                                                                    <<Select>>




2008 OAH Funding Application - April                              Part IX-Scoring Criteria                                                                            115 of 996
Georgia Department of Community Affairs      2008 Funding Application    Office of Affordable Housing




                               X




                           Row size may be
                             increased.




                           Row size may be
                             increased.




2008 OAH Funding Application - April          Part IX-Scoring Criteria                     116 of 996
Georgia Department of Community Affairs      2008 Funding Application    Office of Affordable Housing




                               X




                           Row size may be
                             increased.




2008 OAH Funding Application - April          Part IX-Scoring Criteria                     117 of 996
Georgia Department of Community Affairs   2008 Funding Application    Office of Affordable Housing




                               X




2008 OAH Funding Application - April       Part IX-Scoring Criteria                     118 of 996
Georgia Department of Community Affairs      2008 Funding Application    Office of Affordable Housing




                           Row size may be
                             increased.




                           Row size may be
                             increased.




2008 OAH Funding Application - April          Part IX-Scoring Criteria                     119 of 996
Georgia Department of Community Affairs      2008 Funding Application    Office of Affordable Housing




                               X




                               X




                           Row size may be
                             increased.




                           Row size may be
                             increased.




2008 OAH Funding Application - April          Part IX-Scoring Criteria                     120 of 996
Georgia Department of Community Affairs   2008 Funding Application    Office of Affordable Housing




2008 OAH Funding Application - April       Part IX-Scoring Criteria                     121 of 996
                        [This document is to be submitted with Application]

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

     [Date]

     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 2008 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.


2008 QAP
OAH Form - Core                               DCA Office of Affordable Housing                              Page 122 of 996
     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]




2008 QAP
OAH Form - Core                              DCA Office of Affordable Housing                            Page 123 of 996
                                     GEORGIA DEPARTMENT OF COMMUNITY AFFAIRS
                                     AUTHORIZATION FOR RELEASE OF INFORMATION
                                                  Multi-State Release Form

Applicant: Please copy this form, complete page 1, send the entire form to each state in which you have previously
participated in the Low-Income Housing Tax Credit (LIHTC) Program, and or HOME Program and submit a copy of each with
your application for LIHTC and HOME Funding. Complete this process for any Applicant listed in this tax credit application that
has an ownership interest in a tax conducted business under different names.

                                                                By:
(State Housing Finance Agency)                                        (Compliance Manager)



(Street Address)                                                      (City, State & Zip)

The undersigned hereby authorizes you to complete the attached LIHTC/HOME Program Performance Questionnaire and to
release to the Georgia Department of Community Affairs (DCA) any information you have regarding our firm as it relates to
project development, compliance debarment, the curing of or failure to cure any project noncompliance, and any formal or
informal action taken by our agency with respect to our particpation as an owner or management agent in your LIHTC or HOME
program. Other data that may be relevant to DCA in its assessment of our development experience and compliance record is
also appreciated. Thank you in advance for your cooperation.

                                                                By:
(Company Name)                                                        (Signature)


(Printed Name)                                                        (Title)

Properties developed or managed by this company in the above-referenced state (attach additional pages if necessary):
                                     LIHTC                                                         LIHTC
                 Name                              City                               Name                              City
                                   Project No.                                                   Project No.




     553812d5-9420-4db1-a819-3a7af9cb81ca.xls             page 124 of 996                           Part XI - MultiState Release
                    TAX CREDIT PROGRAM PERFORMANCE QUESTIONNAIRE
The person or entity identified on page 1 has applied for an allocation of low-income housing tax credits or HOME Funding in
the State of Georgia. They have provided on page 1 a list of tax credit/HOME developments in your state in which they have
developed an ownership interest or perform as management agent. As part of the application review process, DCA examines
the Sponsor's previous participation and performance history. Please review the list of properties and answer the following
questions.
1. Notice(s) of violations has/have been issued in the past 36 months in the following categories:
                                                                    Corrected Non-corrected               Correction(s) Due
Major violations of health, safety and building codes
Refusal to lease to Section 8 voucher holders
Violation under the Fair Housing Act
Leasing to unqualified tenants
Lack of proper documentation
Failure to recertify tenants annually
Rents not properly restricted
Instances of transient occupancy
Failure to maintain minimum housing quality standards
General non-compliance with governing regulations
2. Applicant's attached list does not disclose all of the LIHTC or HOME properties they own or manage in this state.
Please list
additional
properties:

3. Applicant has been involved in bankruptcy, an adverse fair housing settlement, an adverse civil rights settlement, or an
adverse federal or state government proceeding and settlement (please explain ).



4.Application has failed to meet tax credit deadlines or compliance standards of a tax credit allocation (includes returning a
reservation of credits aftet the carryover agreement has been signed).



5. Applicant has failed to meet tax credit deadlines or compliance standards of a tax credit allocation (includes returning a
reservation of creduts after the carryover agreement has been signed).



6. Applicant has demonstrated performance issues in the development and construction phase (please explain ).



7. Overall Agency rating of Applicant's performance:                                Excellent                       Good
                                              Average                               Poor                            Barred
8. Additional information/comments:



This response represents this agency's evaluation of the Applicant's performance as of


                       Preparer's Name                                                                    Title

Please return the entire 2-page questionnaire to DCA within 10 days of receipt. Your response is greatly appreciated.
Georgia Department of Community Affairs                                             If you have questions, please contact:
Attention: OAH Legal Affairs Manager                                                Compliance Mgr: Nan Maddux
60 Executive Park South, NE                                                         Phone:          (404) 679-0611
Atlanta, GA 30329                                                                   Email:          nmaddux@dca.state.ga.us


    553812d5-9420-4db1-a819-3a7af9cb81ca.xls               page 125 of 996                              Part XI - MultiState Release
553812d5-9420-4db1-a819-3a7af9cb81ca.xls   page 126 of 996   Part XI - MultiState Release
PART ONE - PROJECT INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

Please note:                                             Blue cells are unlocked for your use and do not contain references/formulas.
                                                         Purple cells are unlocked for your use and do contain references/formulas that can be overwritten.

I.                     REQUESTED RESOURCES

                       LIHTC Amount                                    $     850,000
                       DCA HOME Amount                                 $           -

II.                    TYPE OF APPLICATION                             Competitive Round

                       If "Additional Credits/Competitive Round", please also provide:
                       Original DCA Project Number                 0
                       Original Award of Credits                    $          -
                       Original DCA Score                          0
                       Original re-scoring requested               0

III.                   APPLICANT CONTACT FOR APPLICATION REVIEW

                       Name                                            Mark M. du Mas
                       Address                                         2730 Cumberland Boulevard
                       City                                            Smyrna
                       State                                           GA                                            Zip+4      30080-3048
                       Office Phone                                    ##########                                     Ext.          0            E-mail
                       (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)

IV.                    PROJECT LOCATION

                       Project Name                                    Rosewood Estates
                       Site Street Address                             Joe Wright Drive
                       City                                            Cordele                                              Zip+4              31015-4115
                       Within City Limits?                             Yes                                                 County             Crisp
                       In USDA Rural Area?                             Yes                          HUD MSA/NonMSA name Crisp Co.
                                                                      Congressional                State Senate                 State House
                       Legislative Districts                              106                           13                          147
                       If on boundary, other district:                    110                            0                            0

                       Political Jurisdiction                          City of Cordele, GA
                       Name of Chief Elected Official                  Zach H. Wade                                                               Title
                       Address                                         501 North 7th Street                                                       City
                       Zip+4                                           31015-4366                       Phone     ##########
V.              PROJECT DESCRIPTION                      (Note: Purple-shaded cells auto-fill after completion of Rent Chart in Revenues and Expenses)


           A.   Type of Construction: Indicate number of units in each category that applies:
                New Construction                                                           56
                Adaptive Reuse                                                              0
                Acquisition/Rehab                                                           0
                Substantial Rehab                                                           0
                Historic Rehab                                                              0

           B.   Mixed Use                                                                         No

           C.   Buildings
                Number of Residential Buildings                                                   56
                Number of Non-Residential Buildings                                                1
                Total Number of Buildings                                                         57

           D.   Unit Breakdown
                Number of Low Income Units                                                        50         (Include manager units that are income restricted)
                Number of Market Rate Units                                                        6
                Total Residential Units                                                           56
                Common Space Units                                                                 0         (no rent may be charged)
                Total Units                                                                       56

           E.   Unit Area
                Total Low Income Residential Square Footage                                     62242
                Total Market Rate Residential Square Footage                                     7490
                Total Residential Square Footage                                                69732
                Total Common Space Square Footage                                                2450
                Total Square Footage                                                            72182

           F.   Rent Restricted Units                                                                                       Nbr of PBRA Units
                Number of 30% Units                                                                3                                0
                Number of 50% Units                                                               12                                0
                Number of 60% Units                                                               35                                0
                Other:       0                                                                     0                                0

           G.   Total Residential Parking Spaces (min 1.5 per unit)                               119

     VI.        TENANCY CHARACTERISTICS

           A.   Family or Senior                                                            Family
             If Other, please specify:                                                0

        B.   Special Needs/Targeted
             Number of Units Reserved for:                                                  3
             Majority of Units reserved                                                    No
             Will supportive services be provided to the tenants?                          No        If Yes, list below:
             Description of Service                                                                                                Name of Service Provider
             0                                                                                                                     0
             0                                                                                                                     0
             0                                                                                                                     0
             0                                                                                                                     0

        C.   Mobility Impaired                               Nbr of Units Equipped:        3                    % of Total Units      5.4%

        D.   Sight/Hearing Impaired                          Nbr of Units Equipped:        2                    % of Total Units      3.6%


VII.         SET ASIDES

        A.   Tax Credit Only Rent and Income Election                                 40% of Units at 60% of AMI

        B.   DCA HOME and Tax Credit Projects Minimum Set-Aside Requirement (Rent and Income)
             DCA HOME Only Projects Minimum Set-Aside Requirement (Rent and Income)

        C.   Other HOME and Tax Credit Projects Minimum Set-Aside Requirement (Income)

        D.   Other Set Asides                                                         0

        E.   Competitive Round Set-Aside(s):
             Nonprofit                                                                    Yes
             CHDO                                                                         No
             Rural                                                                        Yes


VIII.        GOVERNMENT FUNDING SOURCES (check all that apply)
             Tax Credits                      Yes                    HUD                  No
             DCA HOME                         No                     HOPE VI              No
             DCA PSH HOME                     No                     FHLB/AHP             No
             Other HOME                       No                     CDBG                 No
             Tax Exempt Bonds                 No                     USDA 515             No
             Taxable Bonds                    No                     USDA 538             Yes
             Historic Rehab Credits           No                     Other                No                          (describe) 0
             FHA Insured Mortgage             No                     Other                No                          (describe) 0

IX.          TAX EXEMPT BOND FINANCED PROJECT
            Issuer:                      0
            Office Street Address        0
            City                         0                                                State            0           Zip+4         00000-0000
            Contact Name                 0                                                Title      0
            10-Digit Office Phone        -                                   0            Fax        -                                   Direct line

X.          AWARD LIMITATIONS FOR CURRENT DCA COMPETITIVE ROUND
            Answer the following questions on behalf of the General Partnership Entity and each of its Principals for all Applications involving them that will be s


       A.   Number of Applications Submitted:                                                                                                3
       B.   All Applications produce a combined total of $1,750,000 or less in Federal Tax Credits?                                         No
       C.   Names of Projects in which the General Partnership entity and each of its principals has a direct or indirect Ownership interest:
                     1.) Galleria Manor of Smyrna                                                                     5.) 0
                     2.) Shannon Estates                                                                              6.) 0
                     3.) Rosewood Estates                                                                             7.) 0
                     4.) 0                                                                                            8.) 0
       D.   Names of Projects in which the General Partnership entity and each of its principals is partnering with an inexperienced unrelated entity

                       1.)   Shannon Estates                                                                                   5.)   0
                       2.)   0                                                                                                 6.)   0
                       3.)   0                                                                                                 7.)   0
                       4.)   0                                                                                                 8.)   0

XI.         PRESERVATION                                                                                                                    No
       A.   Subsequent Allocation
            Year of Original Allocation                                                                                                      0
            Original GHFA/DCA Project Number                                                                                         0
            First Year of Credit Period                                                                                                      0
            First Building Identification Nbr in Project                                                                             GA-
            Last Building Identification Nbr in Project                                                                              GA-
            Expiring Tax Credit (15 Year)                                                                                                 0
            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
            USDA funded affordable nonpublic housing project                                                                                No

XII.        HOME
        A.   HOME Units will be:         (Choose either Floating or Fixed)                                                  0
        B.   Total Number of HOME Units                                                                                     0

XIII.        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:                                  0
             Nbr of Units Reserved and Rented to PHA Tenants w/ PBRA or Households on Waiting List:                         0
             Local PHA                   0
             Street Address              0
             City                        0                                                         Zip+4   00000-0000
             Area Code / Phone           -                                               Fax   -
        B.   Is there currently an Extention of Cancellation Option?                                                       No
        C.   Is there a Tenant Ownership Plan?                                                                             No
        D.   100% HUD PBRA                                                                                                 No
        E.   Is the Project Currently Occupied?                                                                            No
             Total Existing Units                                                                                           0
             Number Occupied                                                                                                0
             % Existing Occupied
        F.   Waivers
             Per-Unit Cost Limit Waiver Approved?                                                                          No
             Operating Expense Waiver Approved?                                                                            No
             Architectural Standards Enhancement Waiver Approved?                                                          No
             Developer Experience Waiver Approved?                                                                         No
             Energy Efficient Waiver Approved?                                                                             No
             Environmental Noise Waiver Approved?                                                                          No
             Manager Experience Waiver Approved?                                                                           No
             Optional Amenities Waiver Approved?                                                                           No
             Owner Experience Waiver Approved?                                                                             No
             Payment & Performance Bond Waiver Approved?                                                                   No
             Public Water/Sewer Requirement Waiver Approved?                                                               No
             Service Requirement Waiver Approved?                                                                          No
             Target Population Project Waiver Approved?                                                                    No
             3rd Party Amenities ( Off-Site Improvement / Amenities / Facilities ) Approved?                               No
             Other (specify waiver):      0                                                                                No
        G.   Projected Place-In-Service Date
             Acquisition                                                                                                ##########
             Rehab                                                                                                      ##########
             New Construction                                                                                           ##########
XIV.                            APPLICANT COMMENTS AND CLARIFICATIONS                                                                                           XV.
                                                                                                                                                                0
IV. Project Location - This project is the 1st phase of a 2 phase project. We will have an additonal 4.5 acres of land and plan to develop a senior housing project in the future on the Phase 2 land




0                                                                                                                                                               0




0                                                                                                                                                               0




0                                                                                                                                                               0




0                                                                                                                                                               0




0                                                                                                                                                               0




0                                                                                                                                                               0




0                                                                                                                                                               0




0                                                                                                                                                               0




0                                                                                                                                                               0




0                                                                                                                                                               0
PART TWO - DEVELOPMENT TEAM INFORMATION - 2008-020 Rosewood Estates, Cordele, Crisp County

I.         OWNERSHIP INFORMATION

           A.         OWNERSHIP ENTITY                                                   Cordele Rosewood Partners, LP
                                             Office Street Address                       2730 Cumberland Pkwy
                                             City                                        Smyrna                                   Fed Tax ID:
                                             State                                       GA              Zip+4     300803048
                                             10-Digit Office Phone / Ext.                7704319696                                  Fax
                                             (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)
           B.         PROPOSED PARTNERSHIP INFORMATION

                      1.          GENERAL PARTNER(S)

                                  a.         Managing Gen'l Partner                      Cordele Rosewood GP, LLC
                                             Office Street Address                       2730 Cumberland Pkwy
                                             City                                        Smyrna
                                             State                                       GA              Zip+4    300803048
                                             10-Digit Office Phone / Ext.                7704319696                                  Fax

                                  b.         Other General Partner                       0
                                             Office Street Address                       0
                                             City                                        0
                                             State                                       0                  Zip+4      0
                                             10-Digit Office Phone / Ext.                0                                           Fax

                                  c.         Other General Partner                       0
                                             Office Street Address                       0
                                             City                                        0
                                             State                                       0                  Zip+4      0
                                             10-Digit Office Phone / Ext.                0                                           Fax

                      2.          LIMITED PARTNERS (PROPOSED OR ACTUAL)

                                  a.         Federal Limited Partner                     SunAmerica Affordable Housing Partners
                                             Office Street Address                       1 SunAmerica Center
                                             City                                        Los Angeles
                                             State                                       CA              Zip+4     900676022
                                             10-Digit Office Phone / Ext.                3107726553                                  Fax

                                  b.         State Limited Partner                       SunAmerica Affordable Housing Partners
                                             Office Street Address                       1 SunAmerica Center
                                         City                           Los Angeles
                                         State                          CA              Zip+4    900676022
                                         10-Digit Office Phone / Ext.   3107726553                            Fax

                          3. NONPROFIT SPONSOR

                                         Nonprofit Sponsor*             Paces Foundation, Inc.
                                         Office Street Address          2730 Cumberland Pkwy
                                         City                           Smyrna
                                         State                          GA              Zip+4    30080-3048
                                         10-Digit Office Phone / Ext.   7704319696                            Fax
II.    DEVELOPER(S)

       A.        DEVELOPER                                              Cordele Rosewood Developer, LLC
                                         Office Street Address          2730 Cumberland Pkwy
                                         City                           Smyrna
                                         State                          GA              Zip+4   30080-3048
                                         10-Digit Office Phone / Ext.   7704319696                            Fax

       B.        CO-DEVELOPER 1                                         0
                                         Office Street Address          0
                                         City                           0
                                         State                          0               Zip+4    0
                                         10-Digit Office Phone / Ext.   0                                     Fax

       C.        CO-DEVELOPER 2                                         0
                                         Office Street Address          0
                                         City                           0
                                         State                          0               Zip+4    0
                                         10-Digit Office Phone / Ext.   0                                     Fax

       D.        DEVELOPMENT CONSULTANT                                 0
                                    Office Street Address               0
                                    City                                0
                                    State                               0               Zip+4    0
                                    10-Digit Office Phone / Ext.        0                                     Fax

III.   OTHER PROJECT TEAM MEMBERS

       A.        OWNERSHIP CONSULTANT                                   0
                                    Office Street Address               0
                                    City                                0
                                    State                               0               Zip+4    0
                                    10-Digit Office Phone / Ext.        0                                     Fax

       B.        GENERAL CONTRACTOR                                     CAA/Hardin
                                          Office Street Address                       3600 Dallas Highway, Suite 230
                                          City                                        Marietta
                                          State                                       GA               Zip+4     300641685
                                          10-Digit Office Phone / Ext.                4046977067                              Fax

      C.            MANAGEMENT COMPANY                                                Community Management Services, Inc.
                                          Office Street Address                       5755 North Point Parkway, Suite 67
                                          City                                        Alpharetta
                                          State                                       GA                Zip+4    300221146
                                          10-Digit Office Phone / Ext.                7705945220                              Fax

      D.            ATTORNEY                                                          Coleman Talley, LLP
                                          Office Street Address                       910 North Patterson Street
                                          City                                        Valdosta
                                          State                                       GA               Zip+4     316014531
                                          10-Digit Office Phone / Ext.                2292427562                              Fax


      E.            ACCOUNTANT                                                        Habif Arogetti & Wynne
                                          Office Street Address                       5565 Glenridge Connector, Suite 200
                                          City                                        Atlanta
                                          State                                       GA                Zip+4    303424782
                                          10-Digit Office Phone / Ext.                4048988245                              Fax

      F.            ARCHITECT                                                         Wallace Architects
                                          Office Street Address                       3615 W. Broadway Blvd, Suite B
                                          City                                        Sedalia
                                          State                                       MO                Zip+4   653012479
                                          10-Digit Office Phone / Ext.                6608267000                              Fax

IV.   OTHER REQUIRED INFORMATION (Answer each of the 6 questions below for each participant listed below.)

      Participant                                       1. Is this       2. Has any                            3. Does this




      Managing General Partner                                No         No                                    Yes
      Other General Partner 1                                  0         0                                     0
      Other General Partner 2                                  0         0                                     0
      Federal Limited Partner                                 No         No                                    No
      State Limited Partner                                   No         No                                    No
      Nonprofit Sponsor                                       No         No                                    Yes
      Developer                                               No         No                                    Yes
      Co-Developer 1                                           0         0                                     0
      Co-Developer 2                                           0         0                                     0
                  Owner Consultant                                               0   0                           0
                  Developer Consultant                                           0   0                           0
                  Contractor                                                    No   No                          No
                  Management Company                                            No   No                          No

V.                              APPLICANT COMMENTS AND CLARIFICATIONS

The Managing
General Partner
The Federal Tax
ID Number
0

0

0

0




PART THREE - SOURCES OF FUNDS - 2008-020 Rosewood Estates, , County

I.                CONSTRUCTION FINANCING

                  Financing Type                                                      Name of Financing Entity   Amount
                  First Mortgage                                                     SunTrust USDA 538 Loan          950,000
                  Second Mortgage                                                    0                                   -
                  Third Mortgage                                                     0                                   -
                  Federal Grant                                                      0                                   -
                  State, Local, or Private Grant                                     0                                   -
                  Deferred Developer Fees                                            0                                   -
                  Federal Housing Credit Equity                                      SunAmerica                    5,705,298
                  State Housing Credit Equity                                        SunAmerica                    1,951,402
                  Other Source (specify)       0                                     0                                   -
                  Other Source (specify)       0                                     0                                   -
                  Other Source (specify)       0                                     0                                   -
                  Total Construction Financing:                                                                    8,606,700
                  Total Construction Period Costs from Development Budget:                                         8,606,700
                  Surplus/(Shortage) of Construction funds to Construction costs:                                        -

II.               PERMANENT FINANCING                                                                              Effective
                                                                                                                            Interest          Term
                Financing Type                            Name of Financing Entity           Principal Amount                 Rate           (Years)
                First Mortgage                           SunTrust USDA 538 Loan                   950,000                6.630%         25
                Second Mortgage                          0                                             -                 0.000%         0
                Third Mortgage                           0                                             -                 0.000%         0
                Other:         0                         0                                             -                 0.000%         0
                Other:         0                         0                                             -                 0.000%         0
                Deferred Devlpr Fee                      Cordele Rosewood Developer, LLC            9,330                4.130%         1
                Federal Grant                            0                                             -
                State, Local, or Private Grant           0                                             -
                Federal Housing Credit Equity            SunAmerica                             6,969,303
                State Housing Credit Equity              SunAmerica                             2,379,762
                Historic Credit Equity                   0                                             -
                Invstmt Earnings: T-E Bonds              0                                             -
                Invstmt Earnings: Taxable Bonds          0                                             -
                Income from Operations                   0                                             -
                Other:         0                         0                                             -
                Other:         0                         0                                             -
                Other:         0                         0                                             -
                Total Permanent Financing:                                                    10,308,395
                Total Development Costs from Development Budget:                              10,308,395
                Surplus/(Shortage) of Permanent funds to development costs:                            -

                Proposed                                   Year:         1 -7           8          9               10            11            12
                                                           Rate:       0.000%       0.000%     0.000%           0.000%         0.000%        0.000%
                                                           Year:          19           20         21               22             23            24
                                                           Rate:       0.000%       0.000%     0.000%           0.000%         0.000%        0.000%


III.            APPLICANT COMMENTS AND CLARIFICATIONS                                                                    IV.            DCA COMMENTS

The Defered                                                                                                              0
Developer Fee


0                                                                                                                        0




0                                                                                                                        0




0                                                                                                                        0
0                                                                                    0




0                                                                                    0




0                                                                                    0




0                                                                                    0




0                                                                                    0




0                                                                                    0




0                                                                                    0




0                                                                                    0




PART FOUR - USES OF FUNDS - 2008-020 Rosewood Estates, Cordele, Crisp County

CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

I.         DEVELOPMENT BUDGET                                                  New
                                                          TOTAL COST

           PRE-DEVELOPMENT COSTS
     Property Appraisal                                                   -               -
     Market Study                                                       6,200           6,200
     Environmental Report(s)                                            8,145           8,145
     Soil Borings                                                      10,000          10,000
     Boundary and Topographical Survey                                 20,000          20,000
     Zoning/Site Plan Fees                                              1,000           1,000
     Other:        USDA 538 Loan Appraisal                              6,000           6,000
     Other:        0                                                      -               -
     Other:        0                                                      -               -
                                                        Subtotal       51,345          51,345

     ACQUISITION
     Land                                                             331,800
     Demolition                                                           -
     Acquisition Legal Fees (if existing structures)                      -
     Existing Structures                                                  -
                                                        Subtotal      331,800

     SITE IMPROVEMENTS
     Site Preparation (On-site)                                     1,450,000    1,450,000
     Site Preparation (Off-site)                                          -
                                                        Subtotal    1,450,000    1,450,000

     UNIT/BUILDING CONSTRUCTION
     Unit/Building Construction/New Construction                    4,525,000    4,525,000
     Unit/Building Construction/Rehab                                     -            -
     Project Amenities / Accessory Buildings                          180,000      180,000
     Other:         Landscaping                                        68,400       68,400
     Construction Contingency                                         500,000      500,000
                                                        Subtotal    5,273,400    5,273,400

     CONTRACTOR SERVICES
     Builder's Overhead:              2.00%            #VALUE!        124,468         124,468
     Builder Profit:                  6.00%            #VALUE!        373,404         373,404
     General Requirements             6.00%            #VALUE!        373,404         373,404
     Payment/perf                                                         -               -
     letter-of-                                     Subtotal          871,276         871,276
     Total Construction Costs           126,691 per unit
       7,094,676                             98 per sq ft

I.   DEVELOPMENT BUDGET                                                         New
                                                                   TOTAL COST


     CONSTRUCTION PERIOD FINANCING
     Construction Loan Fee                                              1,923           1,923
     Construction Loan Interest                                  47,239          25,981
     Construction Legal Fees                                     25,000          25,000
     Construction Period Real Estate Tax                         19,600          19,600
     Construction Insurance                                      73,227          73,227
     Bridge Loan Fee and Bridge Loan Interest                       -               -
     Other:        0                                                -               -
                                                 Subtotal       166,989         145,731

     PROFESSIONAL SERVICES
     Architectural Fee - Design                                  84,000          84,000
     Architectural Fee - Supervision                              8,000           8,000
     Engineering                                                 38,890          38,890
     Real Estate Attorney                                        10,000          10,000
     Accounting                                                  35,000          35,000
     Other:         0                                               -               -
                                                 Subtotal       175,890         175,890

     LOCAL GOVERNMENT FEES
     Building Permits                                            14,000          14,000
     Impact Fees                                                    -               -
     Water Tap Fees     waived?                   No              1,000           1,000
     Sewer Tap Fees     waived?                   No              1,000           1,000
                                                 Subtotal        16,000          16,000

     PERMANENT FINANCING FEES
     Permanent Loan Fees                                         34,127
     Permanent Loan Legal Fees                                   25,000
     Title and Recording Fees                                    15,000          15,000
     As-Built Survey                                              5,000           5,000
     Bond Issuance Premium                                          -               -
     Cost of Issuance / Underwriter's Discount                      -               -
     Other:        0                                                -               -
                                                 Subtotal        79,127          20,000


I.   DEVELOPMENT BUDGET                                                   New
                                                             TOTAL COST


     DCA-RELATED COSTS
     DCA Loan Application Fee (less DCA Mkt Study fee)              -
     Tax Credit Application Fee (less DCA Mkt Study fee)          2,500
     DCA-Commissioned Market Study                                5,000           5,000
     DCA Waiver Fees                                                -
     LIHTC Allocation Processing Fee                    -        59,500
     LIHTC Compliance Monitoring Fee                33,600       33,600
      DCA Front End Analysis Fee (HOME, when ID of Interest)           -
      DCA Final Inspection Fee                                       3,000
      Other:       0                                                   -
                                                Subtotal           103,600              5,000

      EQUITY COSTS
      Partnership Organization Fees                                  5,000
      Tax Credit Legal Opinion                                       1,000
      Syndicator Legal Fees                                            -
      Other:        0                                                  -
                                                    Subtotal         6,000                -

      DEVELOPER'S FEE
      Developer's Overhead                                         260,000            260,000
      Consultant's Fee                                                 -                  -
      Developer's Fee                                            1,040,000          1,040,000
                                                    Subtotal     1,300,000          1,300,000

      START-UP AND RESERVES
      Marketing                                                     10,000
      Rent -Up Reserves                                             46,000
      Operating Deficit Reserve:                                    93,204
      Replacement Reserve                                              -
      Furniture, Fixtures and Equipment                            103,850            103,850
      Other:         USDA Interest Credit Reserve                   23,746                -
                                                    Subtotal       276,800            103,850

      OTHER COSTS
      Relocation                                                       -                  -
      Other:     USDA Permanent Loan Conversion Reserve            206,168                -
      Other:     0                                                     -                  -
                                            Subtotal               206,168                -

      TOTAL DEVELOPMENT COST                                    10,308,395          9,412,492

      Per Unit                                                  184078.482
      Per Square Foot                                           142.811158

II.   TAX CREDIT CALCULATION - BASIS METHOD                                     New

      Subtractions From Eligible Basis
      Amount of federal grant(s) used to finance qualifying development costs   0
      Amount of federal below market rate loan                                  0
      Amount of nonqualified nonrecourse financing                              0
      Costs of Nonqualifying units of higher quality                            0
      Nonqualifying excess portion of higher quality units                      0
                    Historic Tax Credit (Residential Portion Only)                                                         0
                    Other                                     0                                                            0
                    Total Subtractions From Basis:                                                                                     0

                    Eligible Basis Calculation
                    Total Basis                                                                                                 9,412,492
                    Less Total Subtractions From Basis (see above)                                                                      0
                    Total Eligible Basis                                                                                        9,412,492
                    Eligible Basis Adjustment for DDA/QCT Location                                                                130.00%
                    Adjusted Eligible Basis                                                                                    12,236,240
                    Multiply Adjusted Eligible Basis by Applicable Fraction                                                        89.26%
                    Qualified Basis                                                                                            10,921,930
                    Multiply Qualified Basis by Applicable Credit Percentage                                                       78.00%
                    Maximum Tax Credit Amount                                                                                   8,519,105
                    Total Basis Method Tax Credit Calculation                                                                   8,519,105

III.                TAX CREDIT CALCULATION - GAP METHOD

                    Equity Gap Calculation
                    Total Development Cost (not to exceed Per Unit Cost Limitation or DCA-Approved Per Unit Cost Waiver)     10,308,395
                    Subtract Non-Tax Credit (excluding deferred fee) Source of Funds                                            950,000
                    Equity Gap                                                                                                9,358,395
                    Divide Equity Gap by 10                                                                                / 10
                    Annual Equity Required                                                                                      935,840
                    Enter Final Federal and State Equity Factors (not including GP contribution)                                 1.1000
                    Total Gap Method Tax Credit Calculation                                                                     850,763

IV.                 TAX CREDIT ALLOCATION                                                                                        850,000



V.                  APPLICANT COMMENTS AND CLARIFICATIONS                                                                                   VI.       DCA COMMENTS
The Fees                                                                                                                                          0
charged for the



USDA Interest                                                                                                                                     0
Credit Reserve -



USDA                                                                                                                                              0
Permanent Loan



Operating Deficit                                                                                                                                 0
Reserve - USDA
The land costs                                                                                                                 0
is calculated as



                   0                                                                                                           0




                   0                                                                                                           0




                   0                                                                                                           0




                   0                                                                                                           0




                   0                                                                                                           0




                   0                                                                                                           0




                   0                                                                                                           0




PART FIVE - UTILITY ALLOWANCES - 2008-020 Rosewood Estates, Cordele, Crisp County

I.                     UTILITY ALLOWANCE SCHEDULE #1       Source of Utility Allowances                Georgia Department of Community Affairs
                                                           Date of Utility Allowances                  June 1, 2008              Structure

                                                           Paid By (check one)            Tenant-Paid Utility Allowances by Unit Size (No. of Bedrooms)
                       Utility             Fuel               Tenant       Owner               0              1           2             3
      Heat                       Natural Gas                               0              0               0              0               0          0
      Heat                       Electric                                  0              0               0              0               0          0
      Heat                       Propane                                   0              0               0              0               0          0
      Heat                       78% + AFUE Gas                            0              0               0              0               0          0
      Heat                       Electric Heat Pump                        X              0               0              0               0          6
      Air Conditioning           Electric                                  X              0               0              0               0         58
      Cooking                    Natural Gas                               X              0               0              0               0         18
      Cooking                    Electric                                  0              0               0              0               0          0
      Cooking                    Propane                                   0              0               0              0               0          0
      Hot Water                  Natural Gas                               X              0               0              0               0         46
      Hot Water                  Electric                                  0              0               0              0               0          0
      Hot Water                  Propane                                   0              0               0              0               0          0
      Lights                     Electric                                  X              0               0              0               0         40
      Water & Sewer              Submetered?                               X              0               0              0               0         49
      Refuse Collection                                                    0              X               0              0               0          0
      Total Utility Allowance by Unit Size                                                                0              0               0        217

           No         Election to use Electric Utility Provider's Allowance as outlined in the 2008 QAP (TAX CREDIT ONLY)
                      *Elderly allowances cannot be used except at properties that have 100% PBRA and satisfy the DCA definition of "elderly"

      APPLICANT COMMENTS AND CLARIFICATIONS
                  0

                  0


      DCA COMMENTS
                  0

                  0


II.   UTILITY ALLOWANCE SCHEDULE #2                                 Source of Utility Allowances                            0
                                                                    Date of Utility Allowances                     ##########                   Structure

                                                                    Paid By (check one)            Tenant-Paid Utility Allowances by Unit Size (No. of Bedrooms)
      Utility                        Fuel                              Tenant       Owner               0              1           2             3
      Heat                           Natural Gas                         0            0                 0              0           0             0
      Heat                           Electric                            0            0                 0              0           0             0
      Heat                           Propane                             0            0                 0              0           0             0
      Heat                           78% + AFUE Gas                      0            0                 0              0           0             0
      Heat                           Electric Heat Pump                  0            0                 0              0           0             0
      Air Conditioning               Electric                            0            0                 0              0           0             0
      Cooking                        Natural Gas                         0            0                 0              0           0             0
      Cooking                        Electric                            0            0                 0              0           0             0
      Cooking                        Propane                             0            0                 0              0           0             0
           Hot Water                  Natural Gas                               0              0               0              0               0           0
           Hot Water                  Electric                                  0              0               0              0               0           0
           Hot Water                  Propane                                   0              0               0              0               0           0
           Lights                     Electric                                  0              0               0              0               0           0
           Water & Sewer              Submetered?                               0              0               0              0               0           0
           Refuse Collection                                                    0              0               0              0               0           0
           Total Utility Allowance by Unit Size                                                                0              0               0           0

                0          Election to use Electric Utility Provider's Allowance as outlined in the 2008 QAP (TAX CREDIT ONLY)
                           *Elderly allowances cannot be used except at properties that have 100% PBRA and satisfy the DCA definition of "elderly"

           APPLICANT COMMENTS AND CLARIFICATIONS
                       0

                       0


           DCA COMMENTS
                       0

                       0




PART SIX - PROJECTED REVENUES & EXPENSES - 2008-020 Rosewood Estates, Cordele, Crisp County

I.         RENT SCHEDULE                                                 DO NOT cut, copy or paste cells in this Rent Schedule.                      Assign a Rent Type of "N/A-CS

               Rent           Nbr of          No. of           Unit            Unit         HOME          Max Gross       Proposed         Utility     PBRA
               Type           Bdrms           Baths           Count           Area           Unit         Rent Limit     Gross Rent      Allowance     Source
             50% AMI            3                      2.0       9            1,161        Not HOME          603             572             217         0
             50% AMI            4                      2.0       1            1,401        Not HOME          672             672             273         0
             50% AMI            4                      2.0       2            1,445        Not HOME          672             672             273         0
             60% AMI            3                      2.0      23            1,161        Not HOME          723             707             217         0
             60% AMI            4                      2.0       6            1,401        Not HOME          807             807             273         0
             60% AMI            4                      2.0       6            1,445        Not HOME          807             807             273         0
              Market            3                      2.0       4            1,161        Not HOME           0              575              0          0
              Market            4                      2.0       1            1,401        Not HOME           0              625              0          0
              Market            4                      2.0       1            1,445        Not HOME           0              625              0          0
             30% AMI            3                      2.0       2            1,161        Not HOME          361             361             217         0
             30% AMI            4                      2.0       1            1,401        Not HOME          403             403             273         0
                 0              0                      -         0              0              0              0               0               0          0
                 0              0                      -         0              0              0              0               0               0          0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
           0          0                   -             0        0             0       0         0         0         0
                                        TOTAL               56   69,732                                                  MONTHLY TOTAL
                                                                                                                          ANNUAL TOTAL

II.   UNIT SUMMARY

      Units:                                                                        Efficiency       1BR       2BR       3BR
               Low-Income                                                 60% AMI          -         -         -             23
                                                                          50% AMI          -         -         -              9
                                                                          30% AMI          -         -         -              2
                                                                          Total            -         -         -             34
               Market Rate                                                                 -         -         -              4
               Total Residential                                                           -         -         -             38
               Common Space                                                                -         -         -         -
               Total                                                                       -         -         -             38

               HOME                             Fixed                     60% AMI          -         -         -         -
               (included in LI above)                                     50% AMI          -         -         -         -
                                                                          30% AMI          -         -         -         -
                                                                          Total            -         -         -         -
                                             Floating           60% AMI             -           -              -               -
                                                                50% AMI             -           -              -               -
                                                                30% AMI             -           -              -               -
                                                                Total               -           -              -               -

                   PBRA-Assisted                                60% AMI             -           -              -               -
                   (included in LI above)                       50% AMI             -           -              -               -
                                                                30% AMI             -           -              -               -
                                                                Total               -           -              -               -
                   Construction:
                                             New Construction   Low Inc             -           -              -                   34
                                                                Mkt Rate            -           -              -                    4
                                             Acq/Rehab          Low Inc             -           -              -               -
                                                                Mkt Rate            -           -              -               -
                                             Rehab Only         Low Inc             -           -              -               -
                                                                Mkt Rate            -           -              -               -

       Square Footage:
                   Low Income                                   60% AMI             -           -              -           26,703
                                                                50% AMI             -           -              -           10,449
                                                                30% AMI             -           -              -            2,322
                                                                Total               -           -              -           39,474
                   Market Rate                                                      -           -              -            4,644
                   Total Residential                                                -           -              -           44,118
                   Common Space                                                     -           -              -              -
                   Total                                                            -           -              -           44,118

III.   ANCILLARY AND OTHER INCOME (annual amounts)

       Ancillary Income                                                6,249              Laundry, vending, app fees, etc. Will be exactly 2% of potentia

       Other Income (by Year)                                         1           2          3              4              5
       Property Tax Abatement                                         0           0          0              0              0
       Property Tax Exemption                                         0           0          0              0              0
       Operating Subsidy                                           23,633      23,366     23,080         22,776         22,450
       Other:        USDA Annual Guarantee Fee                     -4,240      -4,179     -4,125         -4,069         -4,008
       Total                                                         19,393      19,187     18,955         18,707         18,442

                                                                     11          12         13             14             15
       Property Tax Abatement                                         0           0          0              0              0
       Property Tax Exemption                                         0           0          0              0              0
       Operating Subsidy                                           19,972      19,455     18,903         18,312         17,682
       Other:        USDA Annual Guarantee Fee                     -3,546      -3,449     -3,346         -3,236         -3,118
       Total                                                         16,426      16,006     15,557         15,076         14,564
                                                              21         22          23           24                 25
                 Property Tax Abatement                        0          0           0            0                  0
                 Property Tax Exemption                        0          0           0            0                  0
                 Operating Subsidy                          12,882     11,880      10,810       9,666              8,445
                 Other:        USDA Annual Guarantee Fee    -2,223     -2,036      -1,837      -1,623             -1,395
                 Total                                        10,659       9,844       8,973        8,043              7,050

IV.              ANNUAL OPERATING EXPENSE BUDGET

                 On-Site Staff Costs                                                                        Professional Services
                 Management Salaries & Benefits                          30,000                             Legal
                 Maintenance Salaries & Benefits                         25,000                             Accounting
                 Support Services Salaries & Benefits                         0                             Advertising
                 Other                       0                                0                             Other
                                                 Subtotal                55,000

                 On-Site Office Costs                                                                       Utilities
                 Office Supplies & Postage                                2,500                             Electricity
                 Telephone                                                1,200                             Natural Gas
                 Travel                                                   1,000                             Water & Sewer
                 Leased Furniture / Equipment                             3,000                             Trash Collection
                 Activities Supplies / Overhead Cost                      1,200                             Other
                 Other                        0                               0
                                                 Subtotal                 8,900

                 Maintenance Expenses                                                                       Taxes and Insurance
                 Contracted Repairs                                       5,000                             Real Estate Taxes
                 General Repairs                                          5,000                             Insurance
                 Grounds Maintenance                                      6,000                             Other
                 Extermination                                            1,500
                 Maintenance Supplies                                     4,000
                 Elevator Maintenance                                         0                             Management Fee:
                 Redecorating                                             6,500                             (Amount entered here must match P
                 Other                      0                                 0
                                                Subtotal                 28,000                             TOTAL OPERATING EXPENSE

                 On-Site Security                                                                           Replacement Reserve
                 Contracted Guard                                             0
                 Electronic Alarm System                                    500
                                                Subtotal                    500                             TOTAL ANNUAL EXPENSES

V.               APPLICANT COMMENTS AND CLARIFICATIONS                                                      VI.

The Operating                                                                                               0
Subsidy is the
The USDA   0
Annual



0          0




0          0




0          0




0          0




0          0




0          0




0          0




0          0




0          0




0          0
PART SEVEN - OPERATING PRO FORMA - 2008-020 Rosewood Estates, Cordele, Crisp County

I. OPERATING ASSUMPTIONS

Revenue Growth 2.00%                      Asset Management Fee Amount                     5,000     Yr 1 Asset Mgt Fee Percentage of EGI:        1.58%
Expense Growth 3.00%                      Incentive Management Fee Amount                 5,000     Yr 1 Incent Mgt Fee Percentage of EGI:       1.58%
Reserves Growth3.00%                      Property Mgt Fee Growth Rate (choose one):                Yr 1 Prop Mgt Fee Percentage of EGI:         5.00%
               7.00%
Vacancy & Collection Loss                    Expense Growth Rate (3.00%)                     No
               2.00%
Ancillary Income Limit                       Percent of Effective Gross Income              Yes    <-- If Percent of EGI, indicate percentage:    5.000%

II. OPERATING PRO FORMA

Year                      1           2              3            4             5              6            7              8              9             10
Revenues          312,456      318,705        325,079      331,581       338,212        344,977      351,876        358,914        366,092        373,414
Ancillary Income     6,249       6,374          6,502        6,632         6,764          6,900        7,038          7,178          7,322          7,468
Vacancy            (22,309)    (22,756)       (23,211)     (23,675)      (24,148)       (24,631)     (25,124)       (25,626)       (26,139)       (26,662)
Other Income        19,393      19,187         18,955       18,707        18,442         18,159       17,857         17,534         17,190         16,820
                 (168,000)
Expenses less Mgt Fee         (173,040)      (178,231)    (183,578)     (189,085)      (194,758)    (200,601)      (206,619)      (212,817)      (219,202)
Property Mgmt      (15,789)    (16,076)       (16,366)     (16,662)      (16,964)       (17,270)     (17,582)       (17,900)       (18,223)       (18,552)
Reserves           (23,520)    (24,226)       (24,952)     (25,701)      (26,472)       (27,266)     (28,084)       (28,927)       (29,794)       (30,688)
NOI               108,480      108,169        107,776      107,303       106,749        106,110      105,380        104,554        103,630        102,598
D/S First Mortgage (73,033)    (73,033)       (73,033)     (73,033)      (73,033)       (73,033)     (73,033)       (73,033)       (73,033)       (73,033)
D/S Second Mortgage -              -              -            -             -              -            -              -              -              -
D/S Third Mortgage     -           -              -            -             -              -            -              -              -              -
D/S Other Source       -           -              -            -             -              -            -              -              -              -
D/S Other Source       -           -              -            -             -              -            -              -              -              -
DCA HOME Cash Resrv.   -           -              -            -             -              -            -              -              -              -
DDF                 (9,540)        -              -            -             -              -            -              -              -              -
Asset Mgmt          (5,000)     (5,000)        (5,000)      (5,000)       (5,000)        (5,000)      (5,000)        (5,000)        (5,000)        (5,000)
Incentive Mgmt      (5,000)     (5,000)        (5,000)      (5,000)       (5,000)        (5,000)      (5,000)        (5,000)        (5,000)        (5,000)
Cash Flow           15,907      25,136         24,742       24,270        23,716         23,077       22,347         21,521         20,597         19,565
DCR First Mortgage 1.49           1.48           1.48         1.47          1.46           1.45         1.44           1.43           1.42           1.40
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
                  939,641
First Mortgage Balance        928,574         916,750      904,118      890,623        876,205       860,802        844,346       826,765        807,982
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance            -           -           -           -           -           -           -           -           -           -

Year                     11          12          13          14          15          16          17          18          19          20
Revenues          380,882      388,500     396,270     404,195     412,279     420,525     428,935     437,514     446,264     455,189
Ancillary Income     7,618       7,770       7,925       8,084       8,246       8,410       8,579       8,750       8,925       9,104
Vacancy            (27,195)    (27,739)    (28,294)    (28,860)    (29,437)    (30,025)    (30,626)    (31,238)    (31,863)    (32,501)
Other Income        16,426      16,006      15,557      15,076      14,564      14,015      13,430      12,804      12,135      11,422
                 (225,778)
Expenses less Mgt Fee         (232,551)   (239,528)   (246,714)   (254,115)   (261,739)   (269,591)   (277,678)   (286,009)   (294,589)
Property Mgmt      (18,887)    (19,227)    (19,573)    (19,925)    (20,283)    (20,646)    (21,016)    (21,391)    (21,773)    (22,161)
Reserves           (31,609)    (32,557)    (33,534)    (34,540)    (35,576)    (36,643)    (37,743)    (38,875)    (40,041)    (41,242)
NOI               101,457      100,201      98,824      97,317      95,678      93,897      91,968      89,885      87,638      85,222
D/S First Mortgage (73,033)    (73,033)    (73,033)    (73,033)    (73,033)    (73,033)    (73,033)    (73,033)    (73,033)    (73,033)
D/S Second Mortgage -              -           -           -           -           -           -           -           -           -
D/S Third Mortgage     -           -           -           -           -           -           -           -           -           -
D/S Other Source       -           -           -           -           -           -           -           -           -           -
D/S Other Source       -           -           -           -           -           -           -           -           -           -
DCA HOME Cash Resrv.   -           -           -           -           -           -           -           -           -           -
DDF                    -           -           -           -           -           -           -           -           -           -
Asset Mgmt          (5,000)     (5,000)     (5,000)     (5,000)     (5,000)     (5,000)     (5,000)     (5,000)     (5,000)     (5,000)
Incentive Mgmt      (5,000)     (5,000)     (5,000)     (5,000)     (5,000)     (5,000)     (5,000)     (5,000)     (5,000)     (5,000)
Cash Flow           18,424      17,168      15,791      14,284      12,645      10,864       8,935       6,852       4,605       2,189
DCR First Mortgage 1.39           1.37        1.35        1.33        1.31        1.29        1.26        1.23        1.20        1.17
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
                  787,916
First Mortgage Balance        766,478     743,574     719,105     692,964     665,036     635,199     603,322     569,267     532,884
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance            -           -           -           -           -           -           -           -           -           -

Year                     21          22          23          24          25          26          27          28          29          30
Revenues          464,293      473,579     483,051     492,712     502,566     512,617     522,870     533,327     543,993     554,873
Ancillary Income     9,286       9,472       9,661       9,854      10,051      10,252      10,457      10,667      10,880      11,097
Vacancy            (33,151)    (33,814)    (34,490)    (35,180)    (35,883)    (36,601)    (37,333)    (38,080)    (38,841)    (39,618)
Other Income        10,659       9,844       8,973       8,043       7,050       5,988       4,853       3,642       2,347         964
                 (303,427)
Expenses less Mgt Fee         (312,529)   (321,905)   (331,563)   (341,509)   (351,755)   (362,307)   (373,177)   (384,372)   (395,903)
Property Mgmt      (22,554)    (22,954)    (23,360)    (23,771)    (24,189)    (24,613)    (25,042)    (25,478)    (25,919)    (26,366)
Reserves           (42,480)    (43,754)    (45,067)    (46,419)    (47,811)    (49,246)    (50,723)    (52,245)    (53,812)    (55,426)
NOI                 82,627      79,843      76,863      73,677      70,274      66,643      62,775      58,657      54,276      49,621
D/S First Mortgage (73,033)    (73,033)    (73,033)    (73,033)    (73,033)    (73,033)    (73,033)    (73,033)    (73,033)    (73,033)
D/S Second Mortgage -              -           -           -           -           -           -           -           -           -
D/S Third Mortgage     -           -           -           -           -           -           -           -           -           -
D/S Other Source       -           -           -           -           -           -           -           -           -           -
D/S Other Source       -           -           -           -           -          -          -          -          -          -
DCA HOME Cash Resrv.   -           -           -           -           -          -          -          -          -          -
DDF                    -           -           -           -           -          -          -          -          -          -
Asset Mgmt          (5,000)     (5,000)     (5,000)     (5,000)     (5,000)    (5,000)    (5,000)    (5,000)    (5,000)    (5,000)
Incentive Mgmt      (5,000)     (5,000)     (5,000)     (5,000)     (5,000)    (5,000)    (5,000)    (5,000)    (5,000)    (5,000)
Cash Flow             (406)     (3,190)     (6,170)     (9,356)    (12,759)   (16,390)   (20,258)   (24,376)   (28,757)   (33,412)
DCR First Mortgage 1.13           1.09        1.05        1.01        0.96       0.91       0.86       0.80       0.74       0.68
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
                  494,014
First Mortgage Balance        452,487     408,122     360,724     310,086     255,988    198,191    136,444    70,477             (0)
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance            -           -           -           -           -          -          -          -          -          -

Year                     31          32          33          34          35
Revenues          565,971      577,290     588,836     600,613     612,625
Ancillary Income    11,319      11,546      11,777      12,012      12,252
Vacancy            (40,410)    (41,219)    (42,043)    (42,884)    (43,741)
Other Income           -           -           -           -           -
                 (407,780)
Expenses less Mgt Fee         (420,013)   (432,614)   (445,592)   (458,960)
Property Mgmt      (26,844)    (27,381)    (27,928)    (28,487)    (29,057)
Reserves           (57,089)    (58,802)    (60,566)    (62,383)    (64,254)
NOI                 45,167      41,421      37,462      33,279      28,865
D/S First Mortgage (73,033)    (73,033)    (73,033)    (73,033)    (73,033)
D/S Second Mortgage -              -           -           -           -
D/S Third Mortgage     -           -           -           -           -
D/S Other Source       -           -           -           -           -
D/S Other Source       -           -           -           -           -
DCA HOME Cash Resrv.   -           -           -           -           -
DDF                 (9,540)     (9,540)     (9,540)     (9,540)     (9,540)
Asset Mgmt          (5,000)     (5,000)     (5,000)     (5,000)     (5,000)
Incentive Mgmt      (5,000)     (5,000)     (5,000)     (5,000)     (5,000)
Cash Flow          (47,407)    (51,152)    (55,111)    (59,294)    (63,709)
DCR First Mortgage 0.62           0.57        0.51        0.46        0.40
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
                   (75,294)
First Mortgage Balance        (155,734)   (241,673)   (333,485)   (431,574)
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance          -          (9,723)    (19,855)   (30,413)   (41,416)

III. Applicant Comments & Clarifications                                    IV. DCA Comments

The Defered                                                                 0
Developer fee is



0                                                                           0




0                                                                           0




0                                                                           0




0                                                                           0




0                                                                           0




0                                                                           0




0                                                                           0




PART EIGHT - THRESHOLD CRITERIA - 2008-020 Rosewood Estates, Cordele, Crisp County

Preliminary Rating: Incomplete
FINAL THRESHOLD DETERMINATION (DCA Use Only)

DCA's Comments / Approval Conditions:
1.)
2.)
3.)
4.)
5.)
6.)
7.)


1                   Project Feasibility, Viability Analysis, and Conformance with Plan

                           A.       Are original preliminary financial commitments for all sources of financing included with this application submission?
                           B.       Do the preliminary commitments disclose, at a minimum, the purpose, property, address, amount, interest rate, terms, conditions, and fees?
                           C.       Do the terms of the commitments correspond to the Application?
                           D.       Are any commitments submitted as "under consideration" which need Final Approval submitted before August 15, 2008?
                                    If Yes, then state the applicable financial assistance/funding (select one):

                           E.       Does this application include an Assumption of Existing Debt? If Yes:
                                    1)                Does the application include a letter signed by an officer of the lender whose debt is being assumed?
                                    2)                Does the application include a copy of the original Promissory Note and any amendments and/or modification to said Promissory Note?
                                    3)                Does the application include a copy of the original Loan Agreement and any amendments and/or modification to said Loan Agreement?
                                    4)                Does the
                                                      application
                           F.       Is there a Deferred Developer Fee? If Yes:
                                    1)                Is the deferred Developer Fee payable within fifteen years from available cash flow?
                                    2)                Does the deferred Developer Fee exceed 50% of the total amount of Developer Fee at initial application?

                           G.       Is there a guarantor fee?
                                    If Yes, what is the amount?

                           H.       Debt Coverage Ratio:
                           I.       Total Development Cost Limit per the Unit Cost Limitation is:
                           J.       Per unit waiver is included?
                           K.       Operating Cost Waiver Approval Letter From DCA is included?
                           L.       Utility Allowances utilized (select one)
                           M.       If rehab, average per unit rehab is $:
                    Applicant's comments regarding this section of Threshold:
1.D. The USDA
Loan The
1. G. application
Guarntoor Fee
0
0
                    DCA's Comments:
2               Tenancy Characteristics

                                 This project is designated as:                                                                       Family
                Applicant's comments regarding this section of Threshold:                                                                      DCA's Comments:
0


3               Required Services

                              A. Applicants must
                              B. certify at
                                 Specify below at
                                 least 1 basic 1) Social and recreational programs planned and overseen by project mgr
                                               2) Semi-monthly classes conducted on site
                                               3) After school or adult day care located on site
                                               4) Waiver (small rural projects only)
                Applicant's comments regarding this section of Threshold:
Community
Management
0
0
                DCA's Comments:




4               Market Feasibility

                              A. Is there a Pre-Determination Letter From DCA included in this application for this criterion?
                                 If Yes, has there been any change in the unit mix or information submitted in the Pre-Application?
                              B. Has Applicant included market information?
                                If Yes, then provide the name of the analyst used by applicant:
                Applicant's comments regarding this section of Threshold:
The applicant
hired Real
0
0
0


                Market Feasibility (continued)
                DCA's Comments:
5   Appraisals

                  A. Is there is an identity of interest between the buyer and seller of the project?
                  B. Is an appraisal included in this application submission?
                                         If an appraisal is included, indicate Appraiser's Name and answer the following questions:                           Appraiser's Name:
                                      1) Does it include
                                         Does the value,
                                      2) the “as is”“as is” value delineate the value of the land and building?
                                   3) Does the total hard cost of the project exceed 90% of the as completed unencumbered appraised value of the property?
    Applicant's comments regarding this section of Threshold:
0
0
0
    DCA's Comments:




6   Environmental Requirements

    Is there a Pre-Determination Letter From DCA included in this application for this criterion?
    Did the Applicant receive a DCA Noise Waiver?
                   A. Name of Consultant that prepared the Phase I Assessment:
                   B. Was the original Phase I Environmental Report for the subject property prepared after November 1, 2007 in accordance with the new ASTM standards?
                   C. Is a Phase II Environmental Report included?
                   D. Was a Noise Assessment performed?
                      If "Yes", provide the maximum noise level on site in decibels:
                      If "Yes", what are the contributing factors in decreasing order of magnitude?
                      Crisp County
                   E. Airportsubject property located in a:
                      Is the
                                    1) Brownfield?
                                    2) 100 year flood plain / floodway?
                                       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?
                                       If "Yes", enter the percentage of the site that is a wetlands:
                                       If "Yes", will any development occur in the wetlands?
                                           If "Yes", is documentation provided as per Threshold criteria?
                                    4) State Waters/Streams area?
                                 F. Has the Environmental Professional identified any of the following on the subject property:
                                                     1) Asbestos?                                 No                        3) PCB's?                  No                        5) Lead in water?
                                                     2) Lead-based paint?                         No                        4) Mold?                   No                        6) Radon?
                                                     7) Other (e.g., endangered species, Native American burial grounds, etc.):                 N/A
                                 G. Is all additional environmental documentation required for a HOME application included?
                                                     1) Eight-Step Process completed for Wetlands and/or Floodplains?
                                                     2) Has Applicant/PE completed the HOME and HUD Environmental Questionnaire?
                                                     3) Owner agrees that they must refrain from undertaking any activities that could have an adverse effect on the subject property?
                                 H. If HUD approval has been previously granted, has the HUD Form 4128 been included?

                   Applicant's comments regarding this section of Threshold:
The exisiting
noise is within
Our site has
15.6 applicant
The acres of
0 a wetland
had
                   DCA's Comments:




7                  Site Control
                                 A. Is site control provided through September 30, 2008?
                                 B. Form of site control:
                                 C. Name of Entity with site control:                                                                                                              Cordele Rosewood Partners, LP
                   Applicant's comments regarding this section of Threshold:
The applicant
has site control
The Owner of
the Land is        DCA's Comments:




8                  Site Access
                                 A. Is this site legally accessible by paved roads and are drawings included showing these roads?
                                 B. If access roads are not in place, does the application contain documentation evidencing a local commitment for the funding and the timetable for completion of such paved road?
                   Applicant's comments regarding this section of Threshold:
0
0
                   DCA's Comments:




9                  Site Zoning
                                 A. Is Zoning in place at the time of this application submission?
                                 B. Is Zoning conformance in writing by the authorized Local Government official, and includes the zoning & land use classifications?
                                  C. Is documentation provided that demonstrates that the site layout conforms to any moratoriums, density, setbacks or other requirements?
                                  D. Is this information included on the Architectural Site Conceptual Development Plan?
                                  E. Are all issues and questions surrounding the zoning and land use classification clearly defined prior to this application submission?
                   Applicant's comments regarding this section of Threshold:
9.C. The site is
zoned PDD
0
                   DCA's Comments:




10                 Operating Utilities
                   Check applicable utilities:                                                                 Gas
                                                                                                               Electric
                  Applicant's comments regarding this section of Threshold:
Gas is available
to our site is is
Electricity and
available to our DCA's Comments:




11                 Public Water/Sanitary Sewer/Storm Sewer

                   Is there a Waiver Approval Letter From DCA included in this application for this criterion as it pertains to Rural projects?
                   Check all that are available to the site:                                                  Public water
                                                                                                              Public sewer
                                                                                                              Waiver
                   Applicant's comments regarding this section of Threshold:
Public Water
Service is
Public Sewer
Service is
                   DCA's Comments:




12                 Required Amenities

                                  A. Applicant agrees to provide all required Project Amenities?

                                  B. Applicant agrees to provide the following required Project Amenities in conformance with the DCA Amenities Manual (select one in each category):
                                                   1) Community area (select either community room or community building):
                                                   2) Exterior gathering area:
                                                   3) On site laundry type:
                                                   4) Equipped recreation area (specify and describe):
                   C. Applicant agrees to provide the following required Unit Amenities in conformance with the DCA Amenities Manual:
                                    1) HVAC
                                    2) Refrigerator (Energy Star rated)
                                    3) Stove
                                    4) Carbon Dioxide Fire Suppression system installed above the range cook top

                   D. Applicant agrees to provide the following additional required Amenities for Senior projects:
                                    1) Elevators are installed for access to all units above the ground floor.
                                    2) Buildings more than two story construction have interior gathering areas in several locations in the lobbies and/or corridors
                                    3) 100% of the units are accessible and adaptable
                                       If No, was a waiver granted?
                                    4) All units are equipped with an installed call system, including a buzzer/bell and a light to the exterior.

                   E. Applicant agrees to provide the following three required Amenities for 4% Tax Credit projects, per the Amenities Guidebook:
                             1)        <<Select>>
                             2)        <<Select>>
                             3)        <<Select>>
     Applicant's comments regarding this section of Threshold:
0
0
0
     DCA's Comments:




13   Physical Needs Assessment (Rehabilitation Projects Only)

                   A.Type of rehab (choose one):
                   B.Date of PNA:
                   C.Name of consultant preparing PNA:
                   D.Is 20-year replacement reserve study included?
                   E.Applicant
                     understands that
     Applicant's comments regarding this section of Threshold:
0
0
0

     DCA's Comments:




14   Site Information and Conceptual Site Development Plan

                   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?
                               B. Are all site related amenities required and selected in this application indicated on the Conceptual Site Development Plan?
                               C. Is the Desirable/Undesirable Certification included in this application with all supporting documentation as set forth in the QAP and Manual?
                               D. If this is a 4% deal is the Desirable/Undesirable Certification included in this application?
                 Applicant's comments regarding this section of Threshold:
Applicant has
Applicant copy
included ahas
included
Applicantahas
included a
                 DCA's Comments:




15               Energy Standards

                 Is there a Waiver Approval Letter From DCA included in this application for this criterion?

                               A. Does the project meet Georgia Energy Codes?
                               B. Do the basic design and equipment meet the requirements of the Architectural Manual, including those for Energy Star rated appliances?
                               C. If a 4% deal, select 4 energy components for project, two (2) of which must contribute to the increased efficiency of the HVAC systems:
                                          1)        (Select an
                                          2)        energy standard
                                                    (Select an
                                          3)        energy standard
                                                    (Select an
                                          4)        energy standard
                                                    (Select an
                                                    energy standard
                 Applicant's comments regarding this section of Threshold:
0
0
0

                 DCA's Comments:




16               Accessibility Standards

                               A. Does this project
                               B. comply with all comply with applicable DCA accessibility requirements detailed in the Accessibility Manual of the 2008 Application Manual?
                                  Does this project
                               C. Are at least 5% of the total units equipped for the mobility disabled, including wheelchair restricted residents?
                               D. Are at least 2% of the total units equipped for hearing and sight-impaired residents?

                 Applicant's comments regarding this section of Threshold:
0
0
0
                 DCA's Comments:
17   Architectural Design & Quality Standards

     Is there a Waiver Approval Letter From DCA included in this application for this criterion?

                   A. Does this
                   B. application meet
                      If a 4% deal, are
                               4
                      at least 1)       Select exterior
                               2)       material /finish
                                        Select exterior
                               3)       material /finish
                                        Select site
                               4)       Select choice
                                        design site
                                        design choice
     Applicant's comments regarding this section of Threshold:
0
0
0
0
0
     DCA's Comments:




18   Experience

     Is there a Pre-Determination Letter From DCA included in this application for this criterion?
     Is there a Waiver Approval Letter From DCA included in this application for this criterion?

                    A. Have all entities and individuals in the Owner and Developer organizational structure been identified on an organizational chart?
                       Please disclose any conflict of interest between the parties:
                       Paces
                       Foundation, Inc.
                   B. Is there a Development fee sharing arrangement between the Owner, Developer or any other party?
                      If Yes, disclose details in box below:
                       Paces
                      Foundation, Inc.
                   C. Is there any Guarantee Agreement?
                      If Yes, disclose details in box below:
                        Paces
                        Foundation, Inc.
                   D. Please disclose all owner and development consultants, direct or indirect, paid or unpaid.
                      Paces
                      Foundation, Inc.
                   E. This Application meets Owner Experience through (select one):
                                     1) Name of Experienced Owner, Partner or Consultant:
                                     2) Was this individual or entity determined to be experienced by DCA prior to 2008 Application Submission?
                                     3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership and operation of the project?

                   F. This Application meets Developer Experience through (select one):
                                     1) Name of Experienced Developer, Partner or Consultant:
                                     2) Was this individual or entity determined to be experienced by DCA prior to 2008 Application Submission?
                                     3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership and operation of the project?

                   G. This Application meets Manager Experience through (select one):
                                     1) Name of Experienced Manager, Partner or Consultant:
                                     2) Was this individual or entity determined to be experienced by DCA prior to 2008 Application Submission?
                                     3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership and operation of the project?

                   H. If the Owner or Developer is meeting DCA experience requirements through a consulting agreement with an experienced consultant, the Applicant must state the
                                       name of the property through which the Owner or Developer meets said requirements.

                    I. Is the applicant applying to DCA under the Probationary Participation provision?

     Applicant's comments regarding this section of Threshold:
0
0
0

     DCA's Comments:




19   Eligibility for Credit under the Nonprofit Set-Aside

                   A.   Name of Qualified Nonprofit:                                                                                                                   A. Paces Foundation, Inc.
                   B.   Is the
                   C.   organization a
                        Does the qualified nonprofit materially participate in the project as described in IRC Section 469(h)?
                   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?
                   E. If the nonprofit is
                      Is a a developer
                   F. also copy of the GP joint venture agreement that indicates the nonprofit's general partnership interest and developer fee amount included in the application?
     Applicant's comments regarding this section of Threshold:
The sole
General partner
0

                  DCA's Comments:




20                Eligibility for HOME Loans under the CHDO Set-Aside*

                                A. Name of CHDO:                                                                                                                               A.         0
                                B. Is a copy of the State CHDO pre-qualification/renewal letter included in the Application?
                                C. Is the CHDO either the sole general partner of the ownership entity or the managing general partner of the ownership entity?
                                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?
                                E. Does the CHDO
                                F.       wholly
                                   (oraacopy of the
                                   Is
                                   GP/joint venture
                                G. Do all parties understand that the CHDO must exercise effective control of the partnership throughout the period of affordability?
                  Applicant's comments regarding this section of Threshold:
0
0

                  DCA's Comments:




21                Additional HOME/HUD Requirements

                  Is there a Pre-Determination Letter From DCA included in this application for HOME/HUD Site and Neighborhoos Standards?

                                A. The Census
                                   Tract for the
                                   Please list all contiguous Census Tracts:                                               0
                                B. Is Contract Addendum included in Application?
                  Applicant's comments regarding this section of Threshold:
0
0
0

                  DCA's Comments:




22                Required Legal Opinions
                  State legal                                                                          A.   Credit Eligibilty for Acquisition
                  opinions                                                                             B.   Credit Eligibilty for Assisted Living
                                                                                                       C.   Nonprofit Federal Tax Exempt Status
                                                                                                       D.   Accessibility Standards
                                                                                                         E. Other (If Yes, then also describe):                      0         0
                  Applicant's comments regarding this section of Threshold:
The Non-profit
Legal Opinion     DCA's Comments:



23                Georgia Housing Search
                                 A. Applicant agrees
                                B. that if
                                   Has Applicant registered all available affordable Housing Units previously funded by DCA on the Georgia Housing Search website?
                  Applicant's comments regarding this section of Threshold:                                                                                                    DCA's Comments:
0


24                Relocation and Displacement of Tenants
                                A. Does the Applicant anticipate displacing or relocating any tenants?
                                B. Have the completed and executed tenant household data forms been submitted with the Application for every occupied unit in each building to be rehabilitated?
                                C. Is a relocation
                                D. plan (including a
                                   If the Applicant
                                   anticipates
                                E. If the project has HOPE VI or other master relocation plans, were those plans submitted with their Application?
                  Applicant's comments regarding this section of Threshold:
0
0

                  DCA's Comments:




25                Compliance History Summary
                  Is there a Pre-Determination Letter From DCA included in this application for this criterion?

                                A.   Has the principal
                                B.   Are entities
                                     and five fullyof
                                C.   executed DCA compliance questionnaire for each General Partner, Developer, and project consultant(s) included in the application?
                                     Is the completed
                                D.   Has Applicant included appropriate documentation or releases from other state housing agencies (both the MultiState Release Form and the Uniform Release Form)?
                  Applicant's comments regarding this section of Threshold:
25.B. The DCA
Uniform Release
0
0

                  DCA's Comments:
PART NINE - SCORING CRITERIA - 2008-020 Rosewood Estates, , County




1.         APPLICATION COMPLETENESS/ORGANIZATION

           A.               Missing or Incomplete Documents (Completeness)
           B.               Financial and Other Adjustments (points entered here will be subtracted from the total score)
           C.               Organization

           Applicant's comments regarding this section of scoring:
0
0

           DCA's Comments:                               Nbr of missing or incomplete documents:                      Nbr of financial adjustments/revisions requested:
2.   DESIRABLE/UNDESIRABLE ACTIVITIES CHARACTERISTICS
                      (Applicants need to complete Desirable/Undesirable Certification form)

     A.              Desirable Sites (1 pt each)
     B.              Undesirable Sites (1 pt subtracted for each - points entered here will be subtracted from the total score)
     Applicant's comments regarding this section of scoring:
0
0
0
0

     DCA's Comments:




3.   DEEPER TARGETING / RENT AND INCOME RESTRICTIONS

     A.               50% Gross Rent Restrictions / 50% Income Restrictions:                Nbr units to have these restrictions:   12     Percent of Residential Units:
     B.               30% Gross Rent Restrictions / 30% Income Restrictions:                Nbr units to have these restrictions:   3      Percent of Residential Units:

     Applicant's comments regarding this section of scoring:
0
0

     DCA's Comments:




4.   MIXED INCOME PROJECTS
                                                                                               Total market rate units:             6    Pct of Mkt to Residential Units:
     Applicant's comments regarding this section of scoring:
0

     DCA's Comments:
5.   QUALITY GROWTH INITIATIVES                                                See scoring criteria for further requirements and information

     A.               Infill and Smart Growth Rural Development
                      Indicate Quality Growth Initiative to be used (choose one):                                                    Rural Smart Growth

                      How does the       With frontage on
                      site maximize      Joe Wright
                                         0
                                         0

                      Describe                              West - Pateville
                      Adjacent                              Estates
                      Additional information for Infill Option:

                      Indicate Infill Type (choose one):                                                                             New Construction
                      Describe                              North - Single
                      Adjacent                              Family Homes,


     B.               Community Transportation Options                         (choose only one)

                   1. Rapid Transit Authority (choose only one) :              Transit Oriented Development                                             OR
                                                                               Adjacent to a rapid rail transit station

                   2. Bus (choose only one):                                   Bus route with defined, regularly scheduled bus service                  OR
                                                                               “On call” bus system (for Majority Special Needs projects)

                   3. “On call” bus system (Rural)

     C.               Economic Investment Areas                                County:                                               << Select one >>

     Applicant's comments regarding this section of scoring:
0
0
0

     DCA's Comments:




6.   REDEVELOPMENT AND REVITALIZATION STRATEGIES

     A.               Difficult to Develop Sites
                   1. State EZ, Federal EC or a HUD or USDA EZ or a Renewal Community:                                               USDA Empowerment Zone
                   2. Difficult Development Area or Qualified Census Tract :                                                    Qualified Census Tract

     B.               Community Redevelop/Revitalization Plans and Strategies                                     Name of Plan:                  0
                   1. Is there a Pre-Determination Letter From DCA included in this application for this criterion?                              0
                   2. Indicate whether the Community Redevelop/Revitalization Plan includes the following:
                                                                       a) A discussion of potential sources of funding for the plan
                                                                       b) A clearly delineated target area that includes the proposed project site
                                                                       c) Detailed policy goals (one of which must be housing)
                                                                       d) Implementation measures along with specific time frames for the achievement of such policies and housing activities
                                                                       e) A copy of the entire plan must be included in the Application.
                                                                        f) Evidence that the proposed development project supports at least one of the goals of the redevelopment or revitalization plan

     C.               PHA Community Building Initiative                    Investment Type:                                     << Select one>>

     D.               DCA Community Initiatives                            Project site is in:                                  Georgia Mainstreet Community

     Applicant's comments regarding this section of scoring:
0
0
0
     DCA's Comments:




7.   ADAPTIVE REUSE AND BROWNFIELD / GREYFIELD REDEVELOPMENT

     A.               Adaptive Reuse of entire existing building           (with Physical Needs Assessment and supporting documentation)
     B.               Brownfields Redevelopment                            (With EPA/EPD Documentation)
     C.               Greyfields Redevelopment                             (with supporting documentation)

     Applicant's comments regarding this section of scoring:
0
0
     DCA's Comments:




8.   PREVIOUS PROJECTS / PHASED PROJECTS                                                                                                          (choose only one)

     A.               Proposed development site is w/in boundaries of a Local Govt in which a 9% Credit, 4% Credit and/or HOME project not awarded w/in last three (3) DCA funding cycles
     B.               Proposed project is part of a Master Planned Community in which one or more phases received an allocation of 9% tax credits
     C.               Proposed development site is w/in boundaries of a Local Govt in which a 9% Credit, 4% Credit and/or HOME project not awarded w/in last two (2) DCA funding cycles
     D.               Proposed development site is w/in boundaries of a Local Govt in which a 9% Credit project not awarded w/in last three (3) DCA funding cycles
      Applicant's comments regarding this section of scoring:
0
      DCA's Comments:



9.    WAIVER OF QUALIFIED CONTRACT RIGHT OR TENANT OWNERSHIP PLAN                                                                                 (choose only one)

      A.               The owner is willing to forgo the cancellation option after the close of the compliance period for at least five (5) years:
      B.               Tenant ownership plan

      Applicant's comments regarding this section of scoring:
0
0

      DCA's Comments:




10.   PRESERVATION OF EXISTING AFFORDABLE HOUSING                                                                                                 (choose either A or B for points)

      A.               Application proposes the preservation of an affordable housing project with low-income housing tax credits where the credit period has ended.
                       Application proposes the preservation of an affordable housing project with low-income housing tax credits which are beyond the 14th year of the compliance period.
      B.               Application proposes the preservation of a HUD funded or USDA funded affordable non-public housing project.
                       Application proposes the preservation of a project that currently has a Project Based Section 8 contract but is eligible to opt out.

      Applicant's comments regarding this section of scoring:
0
0

      DCA's Comments:




11.   HISTORIC DESIGNATION
                    A. Has the Applicant received a Historic Designation for the subject property?
                    B. Federal Historic Credits have or will be submitted?
      Applicant's comments regarding this section of scoring:
0
0
      DCA's Comments:
12.                SPECIAL NEEDS TARGETED UNITS                                           (choose only one)
                   Is there a Waiver Approval Letter From DCA included in this application for this criterion?

                                 A. Name of Service Provider                                                                                                                  A. Crisp County Department of Family and
                                 B. Is Service Provider approved by DCA?
                                    Is there a Pre-Determination Letter From DCA included in this application for this criterion?
                                 C. Number of Units that are:                        1. 30% Rent Restricted:
                                                                                     2. PBRA-assisted:
                                 D. Developments with a Portion of Units Designated as Targeted                                     Nbr Trgtd Units in Set Aside         3       Pct of Tot Units:
                                 E. Developments w/ Majority of Units Designated for Targeted Population Tenants                    Nbr Trgtd Units in Set Aside         0       Pct of Tot Units:
                   Applicant's comments regarding this section of scoring:
Applicant has
(3) 30% Rent
0
                   DCA's Comments:




13.                CHDO / NONPROFIT                                                      (choose only one)
                                 A. Name of CHDO:                                                                                                                             A. Paces Foundation, Inc.
                                 B. GP is at least 51% owned by Georgia CHDO and is both applying and eligible for the HOME CHDO Loan Program set-aside
                                    GP comprised of 100% nonprofit organizations and the project is applying for and is eligible for the nonprofit set-aside
                                 C. GP is for-profit entity partnering with a nonprofit that is applying (and eligible) under the Plan’s Credits nonprofit set-aside
                   Applicant's comments regarding this section of scoring:
The sole
General Partner
0
                   DCA's Comments:




14.                RURAL PROJECTS                                                          (75 units or less)
                   Applicant's comments regarding this section of scoring:                                                                                         DCA's Comments:
Documentation
that the project
15.                LOCAL GOVERNMENT SUPPORT

                                 A. Name of Community:                                                                                                                     A. City of Cordele, GA
                                 B. Local Government adopts resolution of support for the proposed project                                                  OR (choose only one)
                                    Letter from the elected official if Local Government is governed by only one elected official (as specified in its Charter)
                                 C. Project has a letter from a designated DCA Signature Community clearly identifying the project as indicative of the community’s affordable housing goals.

                   Applicant's comments regarding this section of scoring:
0
0

                   DCA's Comments:
16.   FINANCIAL ASSISTANCE / LEVERAGING OF RESOURCES / REDUCTION OF RISK

              A. On Site
                        1.         Indicate applicable General Conditions met by the assistance or resources:                                                          Applicant
                                                                                                                                                                       Yes / No
                             a)    Funding or assistance provided will be binding and unconditional except as set forth in this section.                     a)          Yes
                             b)    Funding or assistance must be from an unrelated party.                                                                    b)          Yes
                             c)    Resources will be utilized if the project is selected for funding by DCA.                                                 c)          Yes
                             d)    Loans are for both construction and permanent phases and are for a minimum period of ten years.                           d)          Yes
                             e)    Government loan guarantees and/or mortgage insurance for loans meet these terms.                                          e)          Yes
                             f)    Loans are cash flow or below AFR.                                                                                         f)          No
                             g)    Project-based rental assistance is not used for points in this section.                                                   g)          No
                             h)    Costs associated w/ waiver of zoning and/or building code reqmts not used for points in this section.                     h)          No
                              i)   Reductions in annual operating costs occur in each of the first 10 years.                                                  i)         N/a
                              j)   DCA Permanent Supportive Housing Loan is for project that qualifies as “majority” special need project.                    j)         N/a

                        2.         Indicate Qualifying Resource(s) used and provide detail below:                                                 LG: USDA 538

                             a) Government:                            Type:                                                                 a)                  0
                                                                       Jurisdiction Name:                                                         0

                                                                       Resource Name:                                                                            0 If Other, specify:
                                                                       Resource Type:                                                                            0
                                                                       If resource type is cost reduction, specify:                                              0
                                                                       If cost reduction type is Other, specify:                                  0

                                                                       Additional Resource Name:                                                                 0 If Other, specify:
                                                                       Resource Type:                                                                            0
                                                                       If resource type is cost reduction, specify:                                              0
                                                                       If cost reduction type is Other, specify:                                                 0

                             b) DCA HOME or PSH HOME:                  Project is:                                                           b)                  0
                                                                       PSH Loan?                                                                                 0
                                                                       Resource Type:                                                                            0

                        2.         Indicate Qualifying Resource(s) used (continued) :

                             c) Unrelated 3rd party:                   Name (Foundation or trust):                                           c)                  0
                                                                       Resource Type:                                                                            0
                                                                       If resource type is cost reduction, specify:                                              0
                                                                       If cost reduction type is Other, specify:                                                 0

                             d) Federal Home Loan Bank AHP:            Resource Type:                                                        d)                  0
                                                  e) Local PHA:                           Resource Name:                                                         e)                 0
                                                                                          If Other PHA resources, specify:                                                          0

                                                                                          Resource Type:                                                                            0
                                                                                          Development Cost reduction type:                                                          0
                                                                                          If cost reduction type is Other, specify:                                                 0
                                                                                          Operating Cost reduction type:                                                            0
                                                                                          If cost reduction type is Other, specify:                                                 0

                                                   f) USDA 515 Loan in form of:                                                                                  f)                 0

                                                  g) Loan Guarantee:                      Type:                                                                  g) USDA 538              Amt of underlying insured loan:

                                   Urban Areas       3% but less than 6% of total project development cost and/or average annual operating cost reduction
                                                     Greater than or equal to 6% but less than 10% of total project development cost and/or average annual operating cost reduction
                                                     10% or more of total project development cost and/or average annual operation cost reduction

                                   Rural Areas       3% but less than 6% of total project development cost and/or average annual operating cost reduction
                                                     Greater than or equal to 6% of total project development cost and/or average annual operating cost reduction

                               B. Off Site           Unrelated third-party entity type:                                                                                        0
                                                     Name of entity:                                                                                                           0
                                                     Resource Description and Amount:                                                                                          0
                                                     Describe Improvement, Amenity and Facility Investment:                                                                    0
                                                     Investment is not community wide, part of community local action plan nor will it be developed regardless of proposed project?
                                                     Is there a Pre-Determination Letter From DCA included in this application for this criterion?

                 Applicant's comments regarding this section of scoring:
We have
calculated the
0
0
0
                 DCA's Comments:




17.              OPTIONAL AMENITIES
                 Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                          No
                 Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                            No                         Total Points selected by Applicant:

                                   List optional amenities below and points associated with each item (amenities selected to satisfy basic amenities are not eligible for points). See scoring criteria for additional informati
                                   Unit Amenities - for a minimum of six (6) points (See scoring criteria)                    Point Value    Site Amenities (must be suitable for tenant base)
                                   Microwave Oven                                                                                    2       Attractively
                                   in every unit
                                   In-sink disposal                                                                                  2       fenced
                                                                                                                                             Equipped
                                   in every unit                                                                                             walking path
                              Built in                                                                                                2          Covered pavilion
                              dishwasher in
                              (Select a unit                                                                                          0          with
                                                                                                                                                 Furnished
                              amenityafrom
                              (Select unit                                                                                            0          Children’s
                                                                                                                                                 Furnished
                              amenity from Amenities as approved by DCA
                              Other Optional                                                                                    Point Value      Library
                                                                                                                                                 Equipped
                              0                                                                                                      0           Computer
                                                                                                                                                 Furnished
                              0                                                                                                      0           Exercise/Fitness
                                                                                                                                                 <<Select>>
                              0                                                                                                      0           <<Select>>
                              0                                                                                                      0           <<Select>>
                              0                                                                                                      0           <<Select>>
                              0                                                                                                      0           <<Select>>
             Applicant's comments regarding this section of scoring:
We have
elected to
0
0
             DCA's Comments:




18.          ARCHITECTURAL ENHANCEMENTS

                    A.        Energy Efficiency and Indoor Air Quality Requirements                                      (See Scoring Criteria for complete requirements and information)
                              Is there a Waiver Approval Letter From DCA included in this application for this criterion?
                                      1a.       EPA Energy Star Program construction and certification:                  OR
                                     1b.        Southface Energy Institute's Earth Craft House construction and certification
                                     1c.        Enterprise Foundation's Green Communities standard of construction and certification
                                     1d.        US Green Building Council's LEED For Homes construction and certification
                                      2.        Exterior envelope wall systems insulation
                                      3.        Attic insulation to R-38
                                      4.        ARI rated furnace (90% AFUE) or heat pump (HSPF 8.0 for both HP 2 ton and HP 1.5 ton units)
                                      5.        ARI rated SEER 14 cooling equipment with sensible heat ratio less than 0.75
                                      6.        Locate HVAC ductwork in condtitioned spaces
                                      7.        Installation of two low flow fixtures (must incl toilet and showerhead to qualify for utility self billing option)
                                      8.        Installation of Energystar "Advanced Lighting Package' throughout the property
                                      9.        HVAC system designed for controlled introduction of outside air per ASHRAE 62.2
                                     10.        Common area lighting with Energystar rating and controls
                                     11.        Combustion equipment located in sealed space with outside ventilation
                                     12.        Range hood ventilated to the exterior with damper
                                     13.        Energystar ceiling fans in living rooms, sunrooms and all bedrooms
                                     14.        Energystar bath exhaust with timer and humidistat control
                                     15.        Front Loading washers in Community Laundry
                                     16.        Other - describe: 0
                                     17.        Other - describe: 0
                                     18.        Other - describe: 0

                    B.        Sustainable Communities Certification                                                          (See Scoring Criteria for complete requirements and information)
C.   Project Design                                                                                (See Scoring Criteria for complete requirements and information)
     Is there a Waiver Approval Letter From DCA included in this application for this criterion?
              1        Exterior Wall Finishes
                    a. Exterior wall faces have more than 40% masonry on all sides of building
                    b. Rehabilitation of historic structures that elect to maintain/restore exterior wall finishes
                    c. Rehabilitation of buildings (with no masonry) that elect to upgrade all exterior finishes

             2            Attractive Features
                     a.   Recreation of historic decorative elements on historic (non-designated) buildings
                     b.   Addition of decorative exterior elements for new and existing buildings
                     c.   Addition or redesign of covered building entries for new and existing buildings
                     d.   Addition or redesign of attractive stair/railings for new and existing buildings

             3            Major Building
                  a. Component siding, hard stucco or wood siding exterior finishes
                      Cementitious
                  b. Upgraded roofing materials
                  c. Upgraded windows and french doors with lever hardware throughout the property
                  d. Upgraded interior doors with lever hardware throughout the property
                  e. Upgraded interior cabinetry throughout the property
                   f. Upgraded flooring materials throughout the property
C.   Project Design (continued)                                                          (See Scoring Criteria for complete requirements and information)

             4            Landscaping
                     a.   and Ste Design
                          Site entry(ies) delineated with permanent illuminated sign and decorative fencing
                     b.   Upgraded landscaping at areas of community usea.
                     c.   Freestanding site shelters in addition to the basic requirements - describe:             0
                     d.   Additional larger trees, shade plantings and seating at recreational/community use areas
                     e.   50% of property (100% of sidewalks) to have porous paving
                     f.   Xeriscaping, areas for native plantings or low water landscaping
                     g.   Reuse of site water run-off for landscaping irrigation
                     h.   Preservation of existing trees and vegetation within the body of the site OR:
                          Substantial replanting of tress and vegetation where none are existing or can be preserved.

             5            Other Project
                     a.   Design Options 0
                          Other - describe:
                     b.   Other - describe: 0
                     c.   Other - describe: 0

D.   Accessibility                                                                                     (See Scoring Criteria for complete requirements and information)
           1.             Three third-party construction inspections
           2.             Third-Party Report from review of construction documents per DCA template and requirements
           3.             Additional 2% of the units equipped for the mobility impaired (to include a roll-in shower)
           4.             All units equipped for the disabled to include front loading washers and dryers
           5.             Maximum length of travel from all first floor units to the parking areas designated for the disabled does not exceed 200'
           6.             All units on all floors shall be modified to be 'visitable' according to the FHA Standards (Senior properties not eligible)
             Applicant's comments regarding this section of scoring:
0
0
0
0

             DCA's Comments:




19.          READINESS TO PROCEED                                  (choose one)

             A.                Original building permit obtained, dated appropriately
             B.                Original letter from the Local Government referencing project’s name, address, nbr of units and, if building permit released, permit number

             Applicant's comments regarding this section of scoring:
0
0
             DCA's Comments:




20.          COMPLIANCE HISTORY STATUS

             Is there a Pre-Determination Letter From DCA included in this application for this criterion?

             A.                Owner/Developer

             B.                Manager (Pass or Fail)

             Applicant's comments regarding this section of scoring:
Community
Management
0
0
             DCA's Comments:
TOTAL POSSIBLE SCORE
     DCA Use Only - Project Nbr:
                           2008-020




           Title         President
           Direct Line                ##########
           Fax                        ##########
           Cellular                   ##########
mark@pacesfoundation.org




            Phased Project?           Yes - no Master Plan
            Scattered Site?           No
            Acreage                   39.3
            Census Tract #            9802
            QCT?           Yes               DDA? No




Chairman
Cordele
    Fax      ##########
e restricted)
Service Provider




               40% of Units at 50% of AMI in each building   No
               20% of Units at 50% of AMI in each building   No

               40% of Units at 50% of AMI in each building   No
                  Inducement Date:            ##########
                  Applicable QAP:             0

         E-mail   0
     -                             Cellular   -



ving them that will be submitted in the current DCA OAH Competitive Round:




hip interest:




nced unrelated entity for purposes of meeting DCA Experience Requirements:
                           % of Total Residential Units   0%
                           % of Total Residential Units   0%
Contact        0
Email          0
Direct line    -
Cellular       -
If yes, expiration year:                       0




 If Yes, new Limit is:        $0.00
 If Yes, new Limit is:        $0.00
DCA COMMENTS
                    Name of Principal          Mark du Mas
                    Title of Principal         Manager
0                   Direct line                7704319696
                    Cellular                   4043079232
7704319699   E-mail mark@pacesfoundation.org




                    Name of Principal          Mark du Mas
                    Title of Principal         Manager
                    Direct line                7704319696
                    Cellular                   4043079232
7704319699   E-mail mark@pacesfoundation.org

                    Name of Principal          0
                    Title of Principal         0
                    Direct line                0
                    Cellular                   0
0            E-mail 0

                    Name of Principal          0
                    Title of Principal         0
                    Direct line                0
                    Cellular                   0
0            E-mail 0



                    Name of Principal          Michael Fowler
                    Title of Principal         President
                    Direct line                0
                    Cellular                   0
3107726794   E-mail mfowler@sunamerica.com

                    Name of Principal          Michael Fowler
                    Title of Principal         President
                    Direct line            0
                    Cellular               0
3107726794   E-mail mfowler@sunamerica.com



                    Name of Principal          Mark du Mas
                    Title of Principal         President
                    Direct line                7704319696
                    Cellular                   4043079232
7704319699   E-mail mark@pacesfoundation.org


                    Name of Principal          Mark du Mas
                    Title of Principal         Manager
                    Direct line                7704319696
                    Cellular                   4043079232
7704319699   E-mail mark@pacesfoundation.org

                    Name of Principal          0
                    Title of Principal         0
                    Direct line                0
                    Cellular                   0
0            E-mail 0

                    Name of Principal          0
                    Title of Principal         0
                    Direct line                0
                    Cellular                   0
0            E-mail 0

                    Name of Principal          0
                    Title of Principal         0
                    Direct line                0
                    Cellular                   0
0            E-mail 0



                    Name of Principal          0
                    Title of Principal         0
                    Direct line                0
                    Cellular                   0
0            E-mail 0

                    Name of Principal          Louis "Chap" Ashmore
                            Title of Principal           Principal
                            Direct line                  0
                            Cellular                     4046977067
9128529250           E-mail chapa@bulloch.net

                            Name of Principal            Vincent Murphy
                            Title of Principal           Partner
                            Direct line                  0
                            Cellular                     7708157440
7705947973           E-mail vince@comgtsvc.com

                            Name of Principal          Clay Powell
                            Title of Principal         Partner
                            Direct line                0
                            Cellular                   2293001408
2293330885           E-mail clay.powell@colemantalley.com


                            Name of Principal            Ed Deck
                            Title of Principal           Partner
                            Direct line                  0
                            Cellular                     4042182305
4046024698           E-mail ed.deck@hwcpa.com

                            Name of Principal          Kurt Wallace
                            Title of Principal         Partner
                            Direct line                0
                            Cellular                   6602877000
6608267666           E-mail kurt@wallacearchitects.com



4. Does this   5. Has this               6. Applicable                7. Project




No             No                        For Profit                         0.0100%
0              0                         0                                  0.0000%
0              0                         0                                  0.0000%
No             No                        For Profit                        99.9900%
No             No                        For Profit                        99.9900%
No             No                        CHDO                             100.0000%
No             No                        For Profit                         0.0000%
0              0                         0                                  0.0000%
0              0                         0                                  0.0000%
0    0                         0                  0.0000%
0    0                         0                  0.0000%
No   No                        For Profit         0.0000%
No   No                        For Profit         0.0000%

     VI.           DCA COMMENTS

     0

     0

     0

     0

     0

     0




     Effective Interest Rate   Term (In Months)
     6.630%                    24
     0.000%                    0
     0.000%                    0
        Amort.    Annual Debt Service
        (Years)   Per Terms Given          Loan Type             Balloon?
   30             73,033                   Amortizing              No
   0                                       0                         0
   0                                       0                         0
   0                                       0                         0
   0                                       0                         0
   1              9,540                    Amortizing              No




           13          14            15         16         17       18
        0.000%      0.000%        0.000%     0.000%     0.000%   0.000%
           25          26            27         28         29       30
        0.000%      0.000%        0.000%     0.000%     0.000%   0.000%


MMENTS
Acquisition                  Rehabilitati   Amortizable


              PRE-DEVELOPMENT COSTS
       -                                      -             -
       -                                      -             -
       -                                      -             -
       -                                      -             -
       -                                      -             -
       -                                      -             -
       -                                      -             -
       -                                      -             -
       -                                      -             -
       -                                      -             -

                       ACQUISITION
                                                        331,800
                                                            -
       -                                                    -
       -                                                    -
       -                                                331,800

                   SITE IMPROVEMENTS
       -                                      -             -
                                                            -
       -                                      -             -

               UNIT/BUILDING CONSTRUCTION
       -                                -                   -
       -                                -                   -
       -                                -                   -
       -                                -                   -
       -                                -                   -
       -                                -                   -

                  CONTRACTOR SERVICES
       -                                      -             -
       -                                      -             -
       -                                      -             -
       -                                      -             -
       -                                      -             -



Acquisition                          Rehabilitati   Amortizable




              CONSTRUCTION PERIOD FINANCING
       -                                 -                  -
       -                                -          21,258
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -          21,258

               PROFESSIONAL SERVICES
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -             -

              LOCAL GOVERNMENT FEES
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -             -

              PERMANENT FINANCING FEES
                                                   34,127
                                                   25,000
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -             -
       -                                -          59,127


Acquisition                    Rehabilitati   Amortizable




                 DCA-RELATED COSTS
                                                      -
                                                    2,500
       -                                -             -
                                                      -
                                                   59,500
                                                   33,600
                                           -
                                         3,000
                                           -
     -                           -      98,600

             EQUITY COSTS
                                         5,000
                                         1,000
                                           -
                                           -
     -                           -       6,000

            DEVELOPER'S FEE
     -                           -         -
     -                           -         -
     -                           -         -
     -                           -         -

         START-UP AND RESERVES
                                        10,000
                                        46,000
                                        93,204
                                           -
     -                           -         -
     -                           -      23,746
     -                           -     172,950

             OTHER COSTS
     -                           -         -
     -                           -     206,168
     -                           -         -
     -                           -     206,168

     -                           -     895,903




4%                      Rehabilitati


                        0
                        0
                        0
                        0
                        0
                                     0
                                     0
                                             0


                 0                            0
                                              0
                 0                            0
                                          0.00%
               0                              0
          89.26%                         89.26%
               0                              0
           0.00%                          0.00%
               0                              0




   Enter the lesser
   of the Total



                      Federal                     State
          =                 0.8200       +                0.2800




MMENTS
    SF Detached

of Bedrooms)
         4        5
          0        0
          0        0
          0        0
          0        0
          9        0
         75        0
         22        0
          0        0
          0        0
         58        0
          0        0
          0        0
         51        0
         58        0
          0        0
        273        0




               0

of Bedrooms)
         4         5
         0         0
         0         0
         0         0
         0         0
         0         0
         0         0
         0         0
         0         0
         0         0
         0            0
         0            0
         0            0
         0            0
         0            0
         0            0
         0            0




Rent Type of "N/A-CS" to Common Space units.

   Monthly Net Rent             Employee    Building       Type of        Efficiency 60% 1 BR 60%   2 BR 60%   3 BR 60%   4 BR 60%   5 BR 60%   Efficiency
     Per Unit       Total         Unit        Type         Activity             Units      Units      Units      Units      Units      Units    50% Units
            355        3,195      No       SF Detached New Construction
            399           399     No       SF Detached New Construction
            399           798     No       SF Detached New Construction
            490       11,270      No       SF Detached New Construction                                              23
            534        3,204      No       SF Detached New Construction                                                          6
            534        3,204      No       SF Detached New Construction                                                          6
            575        2,300      No       SF Detached New Construction
            625           625     No       SF Detached New Construction
            625           625     No       SF Detached New Construction
            144           288     No       SF Detached New Construction
            130           130     No       SF Detached New Construction
            -             -        0            0             0
            -             -        0            0             0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
          -            -     0             0           0
MONTHLY TOTAL       26,038                                         0         0       0          0            23        12   0       0
 ANNUAL TOTAL      312,456

                                                                       II.       UNIT SUMMARY - BASED ONLY ON RENT CHART ENTRIES!!!!

         4BR         5BR         Total         Discrepancy Check                 Units:                                                   Efficie
              12      -               35              OK                                  Low-Income                            60% AMI
               3      -               12              OK                                                                        50% AMI
               1      -                3              OK                                                                        30% AMI
              16      -               50              OK                                                                        Total
               2      -                6              OK                                  Market Rate
              18      -               56              OK                                  Total Residential
          -           -           -                   OK                                  Common Space
              18      -               56              OK                                  Total

          -           -           -                   OK                                  HOME                     Fixed        60% AMI
          -           -           -                   OK                                  (included in LI above)                50% AMI
          -           -           -                   OK                                                                        30% AMI
          -           -           -                   OK                                                                        Total
              -               -               -                    OK                                          Floating           60% AMI
              -               -               -                    OK                                                             50% AMI
              -               -               -                    OK                                                             30% AMI
              -               -               -                    OK                                                             Total

              -               -               -                    OK                 PBRA-Assisted                               60% AMI
              -               -               -                    OK                 (included in LI above)                      50% AMI
              -               -               -                    OK                                                             30% AMI
              -               -               -                    OK                                                             Total
                                                                                      Construction:
                  16          -                   50               OK                                          New Construction   Low Inc
                   2          -                    6               OK                                                             Mkt Rate
              -               -               -                    OK                                          Acq/Rehab          Low Inc
              -               -               -                    OK                                                             Mkt Rate
              -               -               -                    OK                                          Rehab Only         Low Inc
              -               -               -                    OK                                                             Mkt Rate

                                                                             Square Footage:
           17,076             -            43,779                  OK                 Low Income                                  60% AMI
            4,291             -            14,740                  OK                                                             50% AMI
            1,401             -             3,723                  OK                                                             30% AMI
           22,768             -            62,242                  OK                                                             Total
            2,846             -             7,490                  OK                 Market Rate
           25,614             -            69,732                  OK                 Total Residential
              -               -               -                    OK                 Common Space
           25,614             -            69,732                  OK                 Total



be exactly 2% of potential gross income.

           6               7              8               9         10
           0               0              0               0          0
           0               0              0               0          0
        22,102          21,731         21,334          20,910     20,456
        -3,943          -3,874         -3,800          -3,720     -3,636
          18,159          17,857         17,534          17,190     16,820

          16              17             18              19         20
           0               0              0               0          0
           0               0              0               0          0
        17,008          16,288         15,519          14,697     13,820
        -2,993          -2,858         -2,715          -2,562     -2,398
          14,015          13,430         12,804          12,135     11,422
              26              27          28            29            30
               0               0           0             0             0
               0               0           0             0             0
            7,140           5,745       4,256         2,664          964
           -1,152           -892        -614          -317             0
                5,988           4,853       3,642         2,347            964



onal Services
                                                                       4,200
                                                                       4,200
                                                                       2,800
                        0                                                  0
                            Subtotal                                   11,200


                                                                       5,200
                                                                       2,000
Sewer                                                                  5,000
llection                                                               6,000
                        0                                                  0
                            Subtotal                                   18,200


 d Insurance
ate Taxes                                                             35,000
                                                                      11,200
                        0                                                  0
                            Subtotal                                   46,200

ment Fee:                                               -15789        15,059
ntered here must match Property Mgt Fee amount shown in Year 1 of Proforma.)

OPERATING EXPENSES                      3,268.91 per unit             183,059

ment Reserve                             420.00 per unit              23,520


ANNUAL EXPENSES                                                       206,579

     DCA COMMENTS
Applicant   DCA USE
                                   Pass?

                        A.    Yes
                        B.    Yes
                        C.    Yes
                        D.    Yes
  USDA

                         E.   No
                         1)   No
                         2)   No
                         3)   No
                         4)   No

                         F.   Yes
                         1)   Yes
                         2)   No

                        G.    Yes
               325,000.00

         H. Yr 1 = 1.49,
          I. 10,628,000.00
                         J.   No
                         K.   No
L. DCA
         M.           0.00
                                                Pass?

                                             Yes
ments:



                                                Pass?

                                            Agree

                                     1)      Yes
                                     2)      No
                                     3)      No
                                     4)       0




                                                Pass?

                                     A.        No
                                                0
                                      B.      Yes
         Real Property Reasearch - Tad Scepaniak




                                                Pass?
                                                      Pass?

                                        A.       No
                                        B.       No
Name:     0
                                                  0
                                                  0
                                                  0




                                                      Pass?

                                                   No
                                                   No
        A. Rindt - McDuff Associates - Joe Hartline
                                         B.       Yes
                                         C.        No
                                         D.       Yes
                                            Less than 55dbs




                                        1)       No
                                        2)      Yes
                                                40%
                                                 No
                                                  0
                                        3)       No
                                                 0%
                                                  0
                                                  0
                                        4)       No
            No
            No
                                           No
                                     G.    N/A
                                     1)     0
                                     2)     0
                                     3)     0
                                     H.    N/A




                                             Pass?
                                           Yes
                         Contract/Option
sewood Partners, LP




                                             Pass?
                                           Yes
on of such paved road?                      0




                                             Pass?
                                     A.    Yes
                                     B.    Yes
                                C.       Yes
                                D.       Yes
                                E.       Yes




                                            Pass?
                                         Yes
                                         Yes




                                            Pass?

                                         No
                                         Yes
                                         Yes
                                         No




                                            Pass?

                                A.      Agree

                                B.       Agree
                1) Building
                2) Gazebo
3) 1 washer and 1 dryer per every 25 units
4) Playground
               C.    Agree
               1)     Yes
               2)     Yes
               3)     Yes
               4)     Yes

               D.     0
               1)     0
               2)     0
               3)     0
                      0
                4)    0

                E.    0




                          Pass?

A.               0
B. January 0, 1900
C.               0
                D.    0
                E.    0




                          Pass?

                A.   Yes
B.   Yes
C.   Yes
D.    0




          Pass?

     No

A.   Yes
B.   Yes
C.    0




          Pass?

A.   Yes
B.   Yes
C.   Yes
D.   Yes
          Pass?

     No

A.   Yes
B.    0




          Pass?

     No
     No

A.   Yes




B.   Yes




C.   Yes
                                     E. Partner
                                     1) Paces Foundation, Inc.
                                                    2)       Yes
 operation of the project?                          3)       Yes

                                      F. Partner
                                      1) Paces Foundation, Inc.
                                                     2)       Yes
 operation of the project?                           3)       Yes

                                     G. Manager
                                     1) Community Management Servcies, Inc.
                                                   2)     Yes
 operation of the project?                         3)     No

ate the
                       Name of Property: 0

                                                     I.      No




                                                                  Pass?

ndation, Inc.
                                                     B.      Yes
                                                     C.      Yes
                                                     D.      Yes
                                                     E.      Yes
                                                     F.      Yes
          Pass?



B.    0
C.    0
D.    0
E.    0
F.    0
G.    0




          Pass?

      0

0

      0




          Pass?
A.    0
B.    0
C.   Yes
D.    0
                        Pass?
                  Agree
                   Yes
ments:



                        Pass?
             A.    No
ated?        B.     0
             C.     0
             D.     0
             E.     0




                        Pass?
                   No

             A.   Yes
             B.   No
             C.   Yes
ase Form)?   D.   Yes
          Score Value                            Self
                                                Score          DCA
                                                Value          Score

TOTALS:      192                                 148            8

               8                                  8             8

               7                        A.        0             0
               0                        B.        0             0
               1                        C.        0             0




                   Nbr of documents not organized correctly:
          10           10   0


        various   A.   10   0
        various   B.    0   0




          10           10   0

21.4%     10      A.   5    0
 5.4%      5      B.   5    0




          2            2    0
10.7%
7         5   0

3    A.   3   0




2    B.   2   0

2    1.   0   0
2         0   0

2    2.   0   0
2         0   0

2    3.   2   0

2    C.   0   0




15        6   0

5
2    1.   2   0
                              3   2.      3          0

                              3   B.      0          0
                                       Applicant    DCA
                                       Yes / No    Yes / No
                                  a)      0          0
                                  b)      0          0
                                  c)      0          0
 ousing activities                d)      0          0
                                  e)      0          0
ment or revitalization plan       f)      0          0

                              6   C.      0          0

                              1   D.      1          0




                              6           0          0

                              2   A.      0          0
                              2   B.      0          0
                              2   C.      0          0




                              6           6          0

 unding cycles                6   A.      6          0
                              5   B.      0          0
nding cycles                  4   C.      0          0
                              3   D.      0          0
              1         1     0

                   A.   Yes
                   B.   No




              10        0     0

              5    A.   0     0
nce period.   5         0     0
              5    B.   0     0
              1         0     0




              4         0     0
                   A.   No
                   B.   No
                             10                     3     0
                                                    No

y Department of Family and Children Services
                                               B.   Yes
                                                    Yes
                                               1.    3
                                               2.    0
               5.4%           3                D.   3     0
               0.0%          10                E.   0     0




                             3                      3     0
dation, Inc.
      OR                     3                 B.   0     0
      OR                     3                      3     0
                             1                 C.   0     0




                             4                      4     0



                             5                      3     0

ele, GA
                             3                 B.   3     0
                             3                      0     0
sing goals.                  2                 C.   0     0
                    11           10   0

                     10          10   0
     DCA
    Yes / No
       0
       0
       0
       0
       0
       0
       0
       0
       0
       0

               Provide amount:




0                            0




0                            0




                             0

               Provide amount:



                             0




                             0
                                               0

                                               0



                                               0

nderlying insured loan:                   950,000


                                   4                    0         0
                                   6                    0         0
                                  10                    0         0

                                   6                    0         0
                                  10                   10         0

                                      1                 0         0

                                               0

                        0
                        0




                                  20                   20         0

elected by Applicant:             20

riteria for additional information.
                                                    Point Value
                                                         2
                                                         2
                2
                2
                2
                2
                2
                0
                0
                0
                0
                0




     43         41   0

     14         14   0
No
     10   1a.   0    0
     14   1b.   0    0
     14   1c.   0    0
     14   1d.   0    0
      2    2.   0    0
      2    3.   2    0
      4    4.   4    0
      4    5.   4    0
      2    6.   0    0
      2    7.   2    0
      2    8.   0    0
      2    9.   0    0
      2   10.   0    0
      2   11.   0    0
      2   12.   0    0
      2   13.   0    0
      2   14.   0    0
      2   15.   2    0
      2   16.   0    0
      2   17.   0    0
      2   18.   0    0

     2    B.    0    0
     20        20   0
No
     4         4    0
     4    a.   4    0
     4    b.   0    0
     4    c.   0    0

     4         4    0
     2    a.   0    0
     2    b.   2    0
     2    c.   2    0
     2    d.   0    0

     4         4    0
     2    a.   2    0
     2    b.   2    0
     2    c.   0    0
     2    d.   0    0
     1    e.   0    0
     1    f.   0    0


     8         8    0
     2    a.   2    0
     2    b.   2    0
     2    c.   2    0
     2    d.   2    0
     4    e.   0    0
     2    f.   0    0
     4    g.   0    0
     2    h.   0    0
     2         0    0


     2    a.   0    0
     2    b.   0    0
     2    c.   0    0

     7         7    0
     5    1.   5    0
     2    2.   2    0
     2    3.   0    0
     2    4.   0    0
     2    5.   0    0
     2    6.   0    0
2          1     0

2    A.    0     0
1    B.    1     0




15        15     0

          No

     A.   15     0

     B.   Pass
    192         148   8

Per Applicant   148   8
1 BR 50%   2 BR 50%   3 BR 50%   4 BR 50%   5 BR 50%   Efficiency   1 BR 30%   2 BR 30%   3 BR 30%   4 BR 30%   5 BR 30%   Efficiency   1 BR Mkt   2 BR Mkt
  Units      Units      Units      Units      Units    30% Units      Units      Units      Units      Units      Units    Mkt Units      Units      Units
                             9
                                        1
                                        2




                                                                                                 2
                                                                                                            1
     0       0       9       3            0            0       0                 0             2             1             0   0   0   0




Efficiency   1BR     2BR     3BR          4BR          5BR     Total
         -       -       -           23           12       -           35 (Include mgr units that are income restricted)
         -       -       -            9            3       -           12
         -       -       -            2            1       -            3
         -       -       -           34           16       -           50
         -       -       -            4            2       -            6
         -       -       -           38           18       -           56
         -       -       -       -            -            -       -        (no rent may be charged)
         -       -       -           38           18       -           56

         -       -       -       -            -            -       -
         -       -       -       -            -            -       -
         -       -       -       -            -            -       -
         -       -       -       -            -            -       -
-   -   -      -           -        -      -
-   -   -      -           -        -      -
-   -   -      -           -        -      -
-   -   -      -           -        -      -

-   -   -      -           -        -      -
-   -   -      -           -        -      -
-   -   -      -           -        -      -
-   -   -      -           -        -      -

-   -   -          34          16   -          50
-   -   -           4           2   -           6
-   -   -      -           -        -      -
-   -   -      -           -        -      -
-   -   -      -           -        -      -
-   -   -      -           -        -      -


-   -   -   26,703      17,076      -   43,779
-   -   -   10,449       4,291      -   14,740
-   -   -    2,322       1,401      -    3,723
-   -   -   39,474      22,768      -   62,242
-   -   -    4,644       2,846      -    7,490
-   -   -   44,118      25,614      -   69,732
-   -   -      -           -        -      -
-   -   -   44,118      25,614      -   69,732
                                  Efficiency                                                   Efficiency
3 BR Mkt   4 BR Mkt   5 BR Mkt   PBRA 30% 1 BR PBRA 2 BR PBRA 3 BR PBRA 4 BR PBRA 5 BR PBRA PBRA 50% 1 BR PBRA 2 BR PBRA 3 BR PBRA 4 BR PBRA
  Units      Units      Units       Units    30% Units 30% Units 30% Units 30% Units 30% Units   Units    50% Units 50% Units 50% Units 50% Units
                                                                                                                                     9
                                                                                                                                               1
                                                                                                                                               2



       4
                  1
                  1
                                                                       2
                                                                                  1
4   2   0   0   0   0   2   1   0   0   0   0   9   3
                                                                        Efficiency    1 BR     2 BR     3 BR     4 BR     5 BR
           Efficiency                                                   Common       Common   Common   Common   Common   Common
5 BR PBRA PBRA 60% 1 BR PBRA 2 BR PBRA 3 BR PBRA 4 BR PBRA 5 BR PBRA     Space        Space    Space    Space    Space    Space   Efficiency
 50% Units   Units    60% Units 60% Units 60% Units 60% Units 60% Units   Units       Units    Units    Units    Units    Units    60% SF




                                                 23
                                                            6
                                                            6
0   0   0   0   23   12   0   0   0   0   0   0   0   0
1 BR 60%   2 BR 60%   3 BR 60%   4 BR 60%   5 BR 60%   Efficiency   1 BR 50%   2 BR 50%   3 BR 50%   4 BR 50%   5 BR 50%   Efficiency   1 BR 30%   2 BR 30%
   SF         SF         SF         SF         SF       50% SF         SF         SF         SF         SF         SF       30% SF         SF         SF
                                                                                             10449
                                                                                                         1401
                                                                                                         2890
                         26703
                                     8406
                                     8670
0   0   26,703   17,076   0   0   0   0   10,449   4,291   0   0   0   0
3 BR 30%   4 BR 30%   5 BR 30%   Efficiency   1 BR Mkt   2 BR Mkt   3 BR Mkt   4 BR Mkt   5 BR Mkt   Efficiency 1 BR PBRA 2 BR PBRA 3 BR PBRA 4 BR PBRA
   SF         SF         SF       Mkt SF         SF         SF         SF         SF         SF      PBRA SF        SF        SF        SF        SF
                                                                                                                                       10449
                                                                                                                                                  1401
                                                                                                                                                  2890
                                                                                                                                       26703
                                                                                                                                                  8406
                                                                                                                                                  8670
                                                                        4644                                                            4644
                                                                                   1401                                                           1401
                                                                                   1445                                                           1445
    2322                                                                                                                                2322
               1401                                                                                                                               1401
2,322   1,401   0   0   0   0   4,644   2,846   0   0   0   0   44,118   25,614
                                                                            Efficiency                                                             Efficiency
          Efficiency     1 BR       2 BR       3 BR       4 BR       5 BR      New     1 BR New 2 BR New 3 BR New 4 BR New 5 BR New                   New
5 BR PBRA Common       Common     Common     Common     Common     Common Constructio Constructio Constructio Constructio Constructio Constructio Constructio
    SF    Space SF     Space SF   Space SF   Space SF   Space SF   Space SF n LI Units n LI Units n LI Units n LI Units n LI Units n LI Units n Mkt Units
                                                                                                                         9
                                                                                                                                    1
                                                                                                                                    2
                                                                                                                        23
                                                                                                                                    6
                                                                                                                                    6



                                                                                                                         2
                                                                                                                                    1
0   0   0   0   0   0   0   0   0   0   34   16   0   0
1 BR New 2 BR New 3 BR New 4 BR New 5 BR New Efficiency                  1 BR       2 BR       3 BR       4 BR       5 BR     Efficiency    1 BR        2 BR
Constructio Constructio Constructio Constructio Constructio LI Acq/Rhb Acq/Rhb LI Acq/Rhb LI Acq/Rhb LI Acq/Rhb LI Acq/Rhb LI Acq/Rhb      Acq/Rhb     Acq/Rhb
n Mkt Units n Mkt Units n Mkt Units n Mkt Units n Mkt Units    Units     Units      Units      Units      Units      Units    Mkt Units    Mkt Units   Mkt Units




                                4
                                           1
                                           1
0   0   4   2   0   0   0   0   0   0   0   0   0   0
 3 BR        4 BR        5 BR       Efficiency    1 BR       2 BR       3 BR       4 BR       5 BR      Efficiency  1 BR      2 BR      3 BR      4 BR
Acq/Rhb     Acq/Rhb     Acq/Rhb     Rehab LI     Rehab LI   Rehab LI   Rehab LI   Rehab LI   Rehab LI   Rehab Mkt Rehab Mkt Rehab Mkt Rehab Mkt Rehab Mkt
Mkt Units   Mkt Units   Mkt Units     Units       Units      Units      Units      Units      Units       Units     Units     Units     Units     Units
0   0   0   0   0   0   0   0   0   0   0   0   0   0
            Efficiency    1 BR       2 BR       3 BR       4 BR       5 BR
  5 BR      Adaptive     Adaptive   Adaptive   Adaptive   Adaptive   Adaptive   Efficiency     1 BR       2 BR       3 BR       4 BR       5 BR
Rehab Mkt    Reuse        Reuse      Reuse      Reuse      Reuse      Reuse     Adaptive     Adaptive   Adaptive   Adaptive   Adaptive   Adaptive   0 BR MF
  Units       Units       Units      Units      Units      Units      Units     Reuse SF     Reuse SF   Reuse SF   Reuse SF   Reuse SF   Reuse SF     Units
0   0   0   0   0   0   0   0   0   0   0   0   0   0
                                                        0 BR       1 BR       2 BR       3 BR       4 BR       5 BR

 1 BR       2 BR       3 BR       4 BR       5 BR      SF Det'd   SF Det'd   SF Det'd   SF Det'd   SF Det'd   SF Det'd    0 BR       1 BR       2 BR
MF Units   MF Units   MF Units   MF Units   MF Units    Units      Units      Units      Units      Units      Units     MH Units   MH Units   MH Units
                                                                                           9
                                                                                                      1
                                                                                                      2
                                                                                          23
                                                                                                      6
                                                                                                      6
                                                                                           4
                                                                                                      1
                                                                                                      1
                                                                                           2
                                                                                                      1
0   0   0   0   0   0   0   0   38   18   0   0   0   0
                                 0 BR     1 BR     2 BR     3 BR     4 BR     5 BR       0 BR     1 BR     2 BR     3 BR     4 BR

 3 BR       4 BR       5 BR      Duplex   Duplex   Duplex   Duplex   Duplex   Duplex   Townhome Townhome Townhome Townhome Townhome
MH Units   MH Units   MH Units    Units    Units    Units    Units    Units    Units     Units    Units    Units    Units    Units
0   0   0   0   0   0   0   0   0   0   0   0   0   0
  5 BR      0 BR      1 BR      2 BR      3 BR      4 BR      5 BR      0 BR      1 BR      2 BR      3 BR      4 BR      5 BR       0 BR

Townhome   1-Story   1-Story   1-Story   1-Story   1-Story   1-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story    2-Story
  Units     Units     Units     Units     Units     Units     Units     Units     Units     Units     Units     Units     Units    Wlkp Units
0   0   0   0   0   0   0   0   0   0   0   0   0   0
  1 BR       2 BR       3 BR       4 BR        5 BR       0 BR       1 BR       2 BR       3 BR       4 BR       5 BR      Effic 60%   1 BR 60%    2 BR 60%
                                                                                                                            HOME         HOME        HOME
 2-Story    2-Story    2-Story    2-Story    2-Story     3+ Story   3+ Story   3+ Story   3+ Story   3+ Story   3+ Story    Floating    Floating    Floating
Wlkp Units Wlkp Units Wlkp Units Wlkp Units Wlkp Units    Units      Units      Units      Units      Units      Units       Units        Units       Units
0   0   0   0   0   0   0   0   0   0   0   0   0   0
3 BR 60%    4 BR 60%    5 BR 60%    Effic 50%   1 BR 50%    2 BR 50%    3 BR 50%    4 BR 50%    5 BR 50%    Effic 30%   1 BR 30%    2 BR 30%    3 BR 30%    4 BR 30%
  HOME        HOME        HOME       HOME         HOME        HOME        HOME        HOME        HOME       HOME         HOME        HOME        HOME        HOME
 Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating    Floating
   Units       Units       Units      Units        Units       Units       Units       Units       Units      Units        Units       Units       Units       Units
0   0   0   0   0   0   0   0   0   0   0   0   0   0
5 BR 30%
  HOME       Effic 60%  1 BR 60%   2 BR 60%   3 BR 60%   4 BR 60%   5 BR 60%   Effic 50%  1 BR 50%   2 BR 50%   3 BR 50%   4 BR 50%   5 BR 50%   Effic 30%
 Floating   HOME Fixed HOME Fixed HOME Fixed HOME Fixed HOME Fixed HOME Fixed HOME Fixed HOME Fixed HOME Fixed HOME Fixed HOME Fixed HOME Fixed HOME Fixed
   Units       Units      Units      Units      Units      Units      Units      Units      Units      Units      Units      Units      Units      Units
0   0   0   0   0   0   0   0   0   0   0   0   0   0
 1 BR 30%   2 BR 30%   3 BR 30%   4 BR 30%   5 BR 30%
HOME Fixed HOME Fixed HOME Fixed HOME Fixed HOME Fixed
   Units      Units      Units      Units      Units
0   0   0   0   0

								
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