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Rental Property Management Company Income Tax

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                                    Rental Development Project Application
                                              New Mexico Mortgage Finance Authority
                                                       344 4th Street SW
                                                Albuquerque, New Mexico 87102
                                                        (505) 843-6880
                                                                                                                           For MFA Use:
Date of Application:                                                                                                       Project #:

SECTION I: Application Type                                   (Please Check and Complete All Applicable Items)



     For Construction/Perm or Permanent Financing 542(c) or 538:                                       Construction/Perm            Permanent

Loan Amount Requested
Const/Lease Up Period (Mos.)                                                                           Term (Years)




   For Tax Credit Projects:                              State Tax Credit           Federal Tax Credit
Federal Tax Credit Set-Aside:                            USDA/RD Financing          Non-Profit
                                                         Inital      Carryover      Final Allocation      Subsidy Layering     Bond Consistency Review
Federal Tax Credit Application Type:

Amount of Annual Federal Credit Requested:
          Amount of State Credit Requested:

     For HOME Funds:                   Construction      Construction/Perm       Permanent        CHDO HOME Set-Aside:                  Yes          No

  Loan Amount Requested                                                                Interest Rate Requested
             Const/Lease Up Period (Mos.)                                                         Term (Years)


     For Housing Trust Fund Projects:                                        Construction              Construction/Perm            Permanent

              Const. Loan Amount Requested                                             Interest Rate Requested
            Const/Sale/Lease Up Period (Mos.)                                                     Term (Years)


     For Primero Loan Program:                           Construction               Construction/Perm               Permanent


    Loan Amount Requested                   Interest Rate Requested                                                          Term (Years)
         Grant Amount Requested (Supportive Housing only)
          Const/Sale/Lease Up Period (Mos.)

Primero Special Initiatives:            Manufactured Housing             Colonias            Supportive Housing            Native American Housing

SECTION II: Project Address and Identification
Project Name:                                                                                       Census Tract:
Project Address:                                                                            Congressional District:
                                                                                             State Senate District:
City/State/Zip Code:                                                                         State House District:
County:
(List all, attach additional sheet(s) if necessary)
SECTION III: Type of Project                        (Check All That Apply For Each Source Requested)

HOUSING TAX CREDIT:                                                                   ALL PROJECTS
                                                                                         New Construction           Special Needs
   New Contruction without Federal Subsidy
                                                                                         Acquisition                Workforce Housing
   New Construction with Federal Subsidy
   Acquisition/Rehabilitation without Federal Subsidy                                    Rehabilitation             Other
   Acquisition/Rehabilitation with Federal Subsidy
   Acquisition Only of Distressed Property (Qualified Only)                              Other

   Rehabilitation Only without Federal Subsidy
   Rehabilitation Only with Federal Subsidy
    Revised 4/2010                                                Development Project Application                                                         Page 1 of 7
SECTION IV: Description of Project
Subsidy, Period of Affordability-Use Restriction

Will Project use Project-Based Section 8 Subsidies?                                       Yes      No    # of units_________
Will Project use Section 8 Vouchers or Certificates?                                      Yes      No

Will Project treat any HOME Program Funding as Federal Funds?                             Yes      No

The owner irrevocably commits to a use restriction period of                           years. (30 Year Minimum
for Federal Tax Credit Projects, 15 Year Minimum for 542(c)).

Income, Rent and Occupancy Restrictions
The Minimum Federal Set-Aside (for Federal Tax Credit or Risk-Sharing Projects Only) is:
             20% of Units at 50% Area Median Income         or          40% of Units at 60% of Area Median Income

All Projects:
List overall income restrictions.
 # Units will be for households with incomes at, or below                     %        of the median area income.
            will be for households with incomes at, or below                           of the median area income.
            will be for households with incomes at, or below                           of the median area income.
            will be for households with incomes at, or below                           of the median area income.
            will be for households with incomes at, or below                           of the median area income.
            will be for households with no income limitation.
             Total Units
            Weighted Average Income Level of All Units
List overall rent restrictions.
 # Units will be for households with rents at, or below                       %        of the median area income.
            will be for households with rents at, or below                             of the median area income.
            will be for households with rents at, or below                             of the median area income.
            will be for households with rents at, or below                             of the median area income.
            will be for households with rents at, or below                             of the median area income.
            will be for households at market rates.
             Total Units
             Weighted Average Rent Level of All Units

Special Needs Population Information:
(Include only those units restricted to occupancy by Special Needs Tenants)

# of Units                    Population Type                             # of Units            Population Type



Are Support Services being Provided to Clients?                   Yes             No
Are Costs of Support Services Included in Rent?                   Yes             No

Site Information
Site Control is in the form of:         Deed           Option     Lease       (Term             Years)
                                        Purchase Contract         Other

Expiration Date of Contract, Option, or Lease                             (month/year)
Name of Seller or Lessor:
                Address:
    City/State/Zip Code:
             Telephone:
    Revised 4/2010                               Development Project Application                                     Page 2 of 7
Site Information (Continued)

Is there an identity of interest between Buyer and Seller? If yes, explain:

      Area of Site:                  Acres                          or        Square Feet

Is site zoned for your development?                                              Yes           No                Zoning
      If no, is site currently in the process of Re-Zoning?                      Yes           No                Re-Zoning
      When is the zoning issue to be resolved?                                                 (month/year)
Has locality approved site plan?                                                 Yes           No
Has locality issued building permit?                                             Yes           No
Are all utilities presently available to the site?                               Yes           No

      If no, which utilities need to be brought to the site?
      Who has responsibilitiy of bringing utilities to site?

Buildings                                                                                        Number of Units
                                               # of Bldgs     Low Income       Market Rate      Mgr/Empl   Common            Commercial        Total

A.    Buildings Containing Rental Units

      Sq. Feet in Buildings with Rental

B.    Buildings with No Rental Units

      Sq. Feet in buildings with No Rental


                                              Total Units

                                              Total Sq Ft

Note: If there is a unit for an employee or Manager that will be a qualified low income tenant, count the unit as low income, not mgr/empl.
      Total residential sq ft (Low Income sq ft + Market Rate sq ft) must agree with total on Schedule "B" Unit Type and Rent Summary.

Number of Floors in Tallest Building:                        Total Number of Elevators:
Number of Handicap Accessible Units:

Please Check All Applicable Items:

         Apartments          Detached Units           Highrise (4 stories or more)       Midrise (2-3 stories)        Slab on grade

         Townhome            Semi-Detached/Duplex                                        Manufactured                 Crawl Space


         Special Needs       Group Home               Assisted Living                    Walk-up

                             Other


      Structural System                                                      Exterior Finish

      Floor System                                                               Other




        Revised 4/2010                                 Development Project Application                                                Page 3 of 7
Appliances and Amenities Provided Without Additional Charge:

           Amenity/Appliance               Market Units       Low-Income Units
       Refrigerator                          Yes        No         Yes           No
       Gas Range                             Yes        No         Yes           No
       Electric Range                        Yes        No         Yes           No
       Dishwasher                            Yes        No         Yes           No
       Disposal                              Yes        No         Yes           No
       W/D Hookups                           Yes        No         Yes           No
       A/C or Evap Cooler                    Yes        No         Yes           No
       Carpet                                Yes        No         Yes           No

       Drapes/Shades                         Yes        No         Yes           No

       Exhaust Fan                           Yes        No         Yes           No
       Range Hood                            Yes        No         Yes           No
       Other:                                Yes        No         Yes           No

Monthly Utility Allowance Calculations:

                                    Type of Utility                                            Enter Allowances by Bedroom Size:
              Utilities           (Gas, Electric, etc.)        Utilities Paid By:         0-Bdr       1-Bdr      2-Bdr      3-Bdr   ___Bdr
       Heating                                                    Owner         Tenant
       Evap Cooling/AC                                            Owner         Tenant
       Cooking                                                    Owner         Tenant
       Lighting, Etc.                                             Owner         Tenant
       Hot Water                                                  Owner         Tenant
       Water                                                      Owner         Tenant
       Sewer                                                      Owner         Tenant
       Trash                          0                           Owner         Tenant

                                               Total Utility Allowance for Units:

                Source of Utility Allowance Calculation:

               Local PHA:                              Utility Company                      Other:


Note: Documentation to support Utility Allowance claims from source identified above must be submitted with this
       application. Failure to do so will result in the application being deemed incomplete.

SECTION V: Acquisition Projects Only

Building(s) are vacant:                                                   Yes                No

Does this project involve any relocation of tenants?                      Yes                No

If yes, please describe the proposed relocation assistance and plan or attach copy of the relocation plan:


Last date of occupancy mm/yy                                      Year construction was completed
Building(s) acquired or to be acquired from:                              Related Party      Unrelated Party
Building(s) acquired or to be acquired with Buyer's Basis:                Determined with reference to Seller's Basis
    (Federal Tax Credit only)                                             Not determined with reference to Seller's Basis
Is the Project a Historic Building?                                       Yes                No
Is the Project located in a Historic District?                            Yes                No
Is a HUD Approval for Transfer of Physical Assets Required?               Yes                No
Are Building(s) previously subsidized with Federal Tax Credits?           Yes                No

    Revised 4/2010                                 Development Project Application                                          Page 4 of 7
Acquisition Projects Only (Continued): (Federal Tax Credit Only)
List below, by address, the date the building was placed in service, the date the building was or is to be acquired, and
the number of years between the date the building was placed in service and date of acquisition. Attach separate
sheet(s) with additional information if necessary.

                                                Placed-in-Service             Proposed Date of
    Address(es) of Building(s)                   Date (By Most                 Acquisition by                     Number of Years
                                                 Recent Owner)                    Applicant                        between Dates




SECTION VI: Developer/Project Contact Information

Name(s):                                                                     Federal Tax I.D. Number:
Address:
                                                                             Telephone:
City/State/Zip Code:                                                         Fax:
Project Contact:                                                             Email Address:

         Non-profit*              For-profit                 CHDO Non-profit (HOME Projects Only)              Municipal Government
         Tribal Government        County Government          Other

*Non-profits must complete non-profit developer information in Section VIII of this Application.

SECTION VII: Owner/Partnership/Borrower Information
Note: MFA reserves Federal Tax Credits to the partnership and general partners. Reservations are not transferable.
Any unapproved change in general partner status results in reservation, commitment, or carryover forfeiture.

Name of Borrower or Ownership Entity:
Federal Tax I.D. Number:

Type of Entity:              Partnership         Limited Partnership                Joint Venture                Other_________

                             "C" Corporation     Limited Liability Company          "S" Corporation

List below: If Partnership, limited partners with a 25% or greater interest and all general partners; or if
corporation/LLC, stockholders with a 10% or greater interest and all officers. Indicate "Title" ie. Individual,
Gen Partner, Ltd Partner, Pres, Secy, Treas, Stockholder, etc. as appropriate. (Federal Tax Identification
Numbers are Required)
    Name(s)/Title/Address/Federal Tax ID#                                    Telephone/Fax                      % Ownership
                                                                                                      at time of final partnership closing




(Attach additional sheet(s) if necessary)

    Revised 4/2010                                Development Project Application                                              Page 5 of 7
SECTION VIII: Non-profit Determination

( Federal Tax Credit and HOME Projects Only)

If this project is to be considered for the non-profit set-aside, or for additional points for non-profit participation, the
following information must be complete. To qualify for the non-profit set-aside, the applicant must materially
participate in the development and operation of the project throughout the compliance period. Within the meaning of
IRC 469(h), "a (non-profit) shall be treated as materially participating in an activity only if the (non-profit) owns an
interest in the project and is involved in the development and operation of the project on a basis which is regular,
continuous and substantial."



Non-Profit Name:                                                      Federal Tax I.D. Number:
Street Address:
                                                                      Telephone:
City/State/Zip Code:                                                  Fax:
Contact Person:                                                       Email Address:

                501(c)(3) Organization                             501(c)(4) Organization

                Exempt from tax under Section 501(a)               Exempt purposes includes fostering of Low-Income Housing

                Other:

Will the Non-Profit hold a 51% or greater interest in the General Partner (if partnership) or in the managing
member (if LLC)?
                Yes        No
Describe the non-profit's participation in the development, operation, and/or management of the project:



 l Attach current list of Board Members for the non-profit organization indicating their home addresses.
If a Member holds a P.O. Box, provide a signed affidavit referencing the Member's physical residential location.


l Attach a list of all paid full-time staff and sources of funds for annual operating expenses and current programs.



SECTION IX: Previous Participation of Principals

l List all previous housing development experience for each Principal using Schedule H. Include market and affordable
developments.

"Principal" means an applicant, any general partner of an Applicant, and any officer, director or any shareholder, general partner,
managing member, or an affiliate of an Applicant. It also includes any entity receiving any part of a developer fee for a project.

SECTION X: Previous Participation of Management

l List all previous multifamily management experience using Schedule I.




    Revised 4/2010                                Development Project Application                                       Page 6 of   7
SECTION XI: Development Team Information
                                                                            Developer Fee                  ² Identity of Interest?
                                                                               Amount
Developer¹                                                                  $                                   Yes         No

General Partner¹                                                            $                                   Yes         No

Contractor¹                                                                 $                                   Yes         No

Management Co.¹                                                             $                                   Yes         No

Consultant¹                                                                 $                                   Yes         No

Architect¹                                                                  $                                   Yes         No

Attorney                                                                    $                                   Yes         No

Accountant                                                                  $                                   Yes         No

¹ Each member of the development team must submit a resume which lists qualifications, address, telephone number and contact
person.
² Please check the appropriate box and list any direct or indirect, financial or other interest any member of the development team
may have with another member of the development team, or between any of the parties involved in the acquisition, construction,
refinancing, rehabilitation, or management of this project.

SECTION XII: Notification of Local Official
Provide the name of the smallest local political jurisdiction in which the project will be located and include the name
and address of the chief executive officer of the political jurisdiction.

Name of Political Jurisdiction:
Name of Chief Executive Officer:
Title:
Address:
City/State/Zip Code:
Telephone:

All attachments to this Development Project Application form are identified in the appropriate Exhibits Checklist. If
you are applying for more than one program, separate copies must be provided for each program checklist. All
Attachments must be clearly labeled and provided in the order requested.

MFA reserves the right to request additional materials as needed or require changes in the information submitted
herewith. MFA may adjust any or all figures provided herein for underwriting purposes.

Applicant Certification

The undersigned hereby applies for the item(s) as specified above and represents that the property described herein
will not be used for any illegal or restricted purposes. The undersigned certifies that the statements made in this
application and all attachments are true, correct and complete. Verification may be obtained from any source
necessary. The undersigned agrees to pay applicable fees when due, and MFA's direct costs within ten (10) days of
MFA's request for payment.



                                                 Original Signature Required

Signature:                                                                              Title:


Organization:                                                                          Date:

    Revised 4/2010                               Development Project Application                                      Page 7 of 7

				
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