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Tax Implications of Deed in Lieu

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					                                                                                                      Version 1: 2008
                                        WORKBOOK INSTRUCTIONS                                        Submission Date:
                                                                                                      January 1, 2011


Security/Macros:      The Joint Application contains numerous Excel macros, meaning that various
                      worksheets share information. To allow the macros to work properly, the security
                      setting on your Microsoft Excel program must be turned to LOW. This is
                      done through TOOLS->MACRO->SECURITY. See screenshot below.




Auto-Filling Cells:   A number of cells contain self-generating summary calculations. These summary
                      cells are shaded GRAY and cannot be filled. If a cell is not auto-filling, it means
                      additional information must still be filled on this or another worksheet.

Formula Errors:                                                                      cells when
                      Formula errors [show example] may be visible in certain Auto-filled
                      you begin entering data. These formula errors result when information
                      necessary to make a numeric calculation is not fully entered. These errors
                      should dissipate once required information is completely entered.

Summary Pages:        The Joint Application contains two entirely self-generating informational Summary
                      worksheets. They are the SUMMARY SHEET and the CASH FLOW
                      worksheets. These worksheets are fully locked and no data entry is allowed.




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                                                                                              Version 1: 2008
                                       WORKBOOK INSTRUCTIONS                                 Submission Date:
                                                                                              January 1, 2011


Developer/           The Application  worksheet contains two cells shaded in LIGHT BLUE.
Development          These are the Developer Name and Development Name fields. Once this
Name:
                     information is entered on the Application worksheet, it will be linked to a
                     similarly named cell on all other worksheet to avoid having multiple entries
                     for these names.


Exhibit Checklist:   ● Use the Exhibit
                                     Checklist as your guide to determine the specific
                     documents that must be submitted with each type of funding request being
                     ● Ifthe same joint application will be submitted to both CHFA and DECD,
                     the application submission requirements may vary. Make sure that each
                     agency receives a complete application based on each agencies specific
                     requirements. Checklist contains links for most exhibits to both the
                     ● The Exhibit
                     Application form and the form Exhibit. If an exhibit does not contain a form
                     exhibit see the Application worksheet for a description of the required
                     exhibit.

Development                                        not contain any Low Income Housing Tax
                     If the proposed submission does
Budget:              Credits (LIHTC), disregard columns E and F.

Schematic                                                   worksheet requires the level of
                     Note that section 3.11 of the Application
Drawings:            architectural plans that must be submitted with the application. Note that
                     DECD requires a minimum of 40% architectural drawings be submitted with
                     each application.

Applicant                                         forms requires that applicants provide
                     Section 1.12 of the Application
Performance:         background information on your organizations capacity to complete the
                     proposal. Make sure that the written description includes development of
                     both your CHFA and DECD development proj


Sequential Order:    Needs to be completed.




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                                                                                                                                         Version 1: 2008
                                  CHFA & DECD CONSOLIDATED APPLICATION FORM                                                              Submission Date:
                                           General Information and Rental Developments                                                    January 1, 2011

                                                   SECTION I. APPLICANT and CO-SPONSOR
Applicant and Co-Sponsor Information
     1.1 Applicant
          Applicant Name

         Applicant Address

         City                                                                                          State                   Zip

         Contact Name                                                                                  Title

         Phone                                                                                         Fax

         Email                                                                                         FEIN

                                                                                                       TIN

   1.2   Co-Sponsor
         Co-Sponsor Name                                                                                     Not Applicable

         Co-Sponsor Address

         City                                                                                          State                   Zip

         Contact Name                                                                                  Title

         Phone                                                                                         Fax

         Email                                                                                         FEIN


   1.3   Please check appropriate Applicant type:
            Individual                                           For-Profit Entity                                   Non-Profit Entity

            Partnership *                                        Limited Liability Company                           Municipality

            Housing Authority                                    Community Housing Development Corp.                 Municipal Developer

            Other

         *Date Corp.or Partnership was established:

   1.4   Please check appropriate Co-Sponsor type
            Individual                                           For-Profit Entity                                   Non-Profit Entity

             Partnership *                                       Limited Liability Company                           Municipality

             Housing Authority                                   Community Housing Development Corp.                 Municipal Developer

             Other

         *Date Corp.or Partnership was established:
         If joint venture, explain the role of the non-profit:




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                                                                                                                               Version 1: 2008
                                CHFA & DECD CONSOLIDATED APPLICATION FORM                                                     Submission Date:
                                        General Information and Rental Developments                                            January 1, 2011

   1.5   Organizational Documents
         If the applicant or co-sponsor is a legally existing organization, submit a copy of any incorporation documents and bylaws, including
         (if applicable) documentation of non-profit status and certificate of legal existence for the current year. Attach and label as "Exhibit
         1.5"

   1.6   Program Recapitalization
         Is the Applicant or Co-Sponsor seeking financing to capitalize any new or existing programs? (DECD only)             Yes        No
         If "Yes", please see attached program checklist to guide in the completion of this application.
   1.7   Management Changes
         Has there been any management or ownership changes in the Applicant and/or Co-Sponsor entity in the last twelve-month period?
         (if "Yes" describe below) Yes       No




   1.8   Financial Statements and Annual Operating Budget
         Attach the last three years audited financial statements or personal financial statements (include notes and projections) for both the
         applicant, co-sponsors, and principals. If the Applicant and Co-Sponsor is newly formed with no historical financial statements, then
         please provide financial statements for the parent organization. Please provide a copy of the Applicant and Co-Sponsor
         organization’s current approved annual budget delineating state and non-state funding. Also identify any state agencies providing
         funding. Attach and label as “Exhibit 1.8”

   1.9   Applicant and Co-Sponsor’s Capacity
         1.9.a. Please provide a written description of the Applicant’s and Co-Sponsor’s record of performance, qualifications and capacity to
         perform its responsibilities for this development. Attach and label as “Exhibit 1.9. a.”

         1.9.b. Work Completed and in Process
         On the Applicant Capacity form provided, please identify:
             All
         1. a. developments currently underway by the Applicant or co-sponsor
             Developments completed in the last five years
         2. b.
             Five completed developments of similar type and scale in the last five years
         3. c.
         Attach and label as "Exhibit 1.9.b"

   1.10 Bankruptcy
        Has the Applicant, Co-Sponsor, or any members of its development team, ever declared bankruptcy?               Yes          No
        If "Yes", attach explanation and label as "Exhibit 1.10"

   1.11 Taxes
        Are the Applicant and Co-Sponsor current on all local, state, and federal taxes?         Yes        No
        If "No", attach explanation and label as "Exhibit 1.11"

                                                     SECTION II. DEVELOPMENT TEAM

   2.1   Qualified Development Team Contact Information
         Provide information identifying the proposed qualified development team members on the form provided. Provide descriptions of
         relevant experience and qualifications for each team member. Include resumes for all development team members. Attach and
         label as "Exhibit 2.1"


         If State or Federal Funds are to be used for architectural and engineering services then
         DECD Procurement Standards and HUD CPD Notice 96-05 apply.




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                                                                                                                             Version 1: 2008
                                CHFA & DECD CONSOLIDATED APPLICATION FORM                                                    Submission Date:
                                        General Information and Rental Developments                                           January 1, 2011


   2.2   Management Agent Approval (CHFA Financing and Next Steps Only)
         The Connecticut Housing Finance Authority (CHFA) approves a proposed Management Agent (Agent) on an individual property
         basis. At the time of application for CHFA financing, the sponsor is required to submit a list of Qualified Development Team
         members. The proposed Agent must be a qualified member of the team. In order to obtain CHFA approval as a Qualified
         Management Agent, the Agent must satisfy the requirements listed below. Please note the same requirements apply to existing
         properties where a change in Agent is contemplated.

         2.2.a. Demonstrate that the Agent is a licensed Real Estate Broker in good standing in the State of Connecticut (A copy of a
         Connecticut Real Estate Broker’s’ License is required.) Exemptions to this requirement are enumerated in C.G.S. 20-329. The
         exemptions include: “Any person who as owner or lessor performs any of the acts enumerated in Section 20-311 with reference to
         property owned, leased or sought to be acquired or leased by the person, or to the person’s regular employees who are employed as
         on-site residential superintendents or custodians….(5) persons in the employ of the federal or state government or any political
         subdivision thereof while acting in the course of such employment….(6) any employee of any non-profit housing corporation that (A)
         has been certified as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code…., or (B) manages a housing
         project assisted in whole or in part by the federal government pursuant to Section 8 of the United States Housing Act…”. Attach
         and label as “Exhibit 2.2.a"

         2.2.b. Provide documentation from the Office of the Secretary of State indicating that the Agent is registered to do business in the
         State of Connecticut. Attach and label as “Exhibit 2.2.b"
         2.2.c. Demonstrate training and experience in management of multifamily residential housing acceptable to CHFA in at least one
         of the following ways:
         (a) Have managed low/moderate income housing assisted under Section 8, 202, 221(d)(3)(4), or 236 of the National Housing Act for
         a period of not less than one year;
         (b) Have managed conventionally-financed or unassisted multifamily housing for low/moderate income families for a period of not
         less than three years; or
         (c) Have completed specialized courses in the management of low and moderate income housing.
         Attach and label as “Exhibit 2.2.c"

         2.2.d. For developments receiving Low Income Housing Tax Credits (LIHTC), provide documentation evidencing knowledge of
         and experience managing LIHTC developments as well as copies of LIHTC certifications received by staff.

         Attach and label as “Exhibit 2.2.d"

         2.2.e. Provide a list of all multifamily housing developments the Agent has managed, including all FHA-insured, HUD subsidized,
         LIHTC and conventionally-financed developments. HUD Form #2530 Previous Participation Certificate must be completed by Owner
         and Agent. Attach and label as “Exhibit 2.2.e"
         2.2.f.  Provide financial statements of the Agent’s principals reflecting current financial status and resources.
         Attach and label as “Exhibit 2.2.f"
         2.2.g. Provide a company profile including a list of principals and an organizational chart; staff resumes, experience and
         professional designations; and a list of employees to be assigned to the property and their specific duties. Attach and label as
         “Exhibit 2.2.g"
         2.2.h. Confirm that the Agent will maintain an office within the State of Connecticut at which all books, documents, and records of
         the development are made available to CHFA or its designees for examination at reasonable times. Attach and label as “Exhibit
         2.2.h"
         2.2.i.  Provide a statement of familiarity and intention to comply with requirements as stated in CHFA’s loan documents, policies
         and procedures. Attach and label as “Exhibit 2.2.i"
         2.2.j.  Arrange for CHFA staff to visit the Agent’s office and sites currently managed. Attach and label as “Exhibit 2.2.j"
         2.2.k.   Provide an oral presentation of management services and experience to CHFA staff. Attach and label as “Exhibit 2.2.k"


   2.2   Construction Procurement Plan (DECD Only)
         Applicant and Co-Sponsors seeking State or Federal funds through DECD are required to use, at a minimum, a Request for
         Proposals Process in selecting their General Contractor. Provide your construction procurement plan in accordance with DECD’s
         Procurement Standards. Attach and label as “Exhibit 2.2"




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                                                                                                                             Version 1: 2008
                                     CHFA & DECD CONSOLIDATED APPLICATION FORM                                              Submission Date:
                                         General Information and Rental Developments                                          January 1, 2011

                                                        SECTION III. DEVELOPMENT

   3.1    Development Information

   Development Name

   Development Address*                                                                           County

   City                                                                                           State               Zip
   Metropolitan Area
          Is Development Located in Census Tract Qualified or Difficult Development Area?
          * If yes, submit documentation from the City/Town Planner or Regional Planning Office of the project census tract. Attach and
          label as “Exhibit 3.1.a”
                    Census Tract                                                   Congressional District
          State Senate District(s)                                                State House District(s)

          * For multiple or scattered-site developments, please attach a detailed list of all proposed development sites. Attach and label as
          “Exhibit 3.1.b”

   3.2    Development Scope (Check all that apply and enter number of units )


                                                              Total Units         New Construction              Rehab

                       Total number of units                       0

             Number of Income Restricted Rental Units              0
             Number of Income Restricted Homeowner
                             Units                                 0

                        Number of Buildings                        0

                 Number of CHFA Restricted Units                   0

                 Number of DECD Restricted Units                   0

             Number of Non-Income Restricted Units                 0
           Are the CHFA and DECD Restricted Units the
                          same units                               0

   3.3    Development Description
          3.3.a.    Please provide a detailed description of the proposed construction and/or rehabilitation and other material aspects of the
          development. Attach and label as “Exhibit 3.3.a”
          3.3.b.    Describe the neighborhood land use patterns and community demographics of the proposed development’s surrounding
          area, contiguous land uses and the nature of the subject site including all existing improvements. Attach a location map, plot plan
          and/or site layout and label as "Exhibit 3.3.b"
          3.3.c.    Describe how this development proposal complies with the Connecticut State Plan of Conservation and Development,
          Connecticut State Statutes, DECD’s Consolidated Plan, the Connecticut State Long Range Housing Plan, the Next Steps RFP,
          and/or the State Qualified Allocation Plan, as applicable. Attach and label as “Exhibit 3.3.c”
          3.3.d.    If Residential Equipment is different in qualified units from market rate units, describe. Attach and label as "Exhibit
          3.3.d"




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                                                                                                                                Version 1: 2008
                                 CHFA & DECD CONSOLIDATED APPLICATION FORM                                                      Submission Date:
                                         General Information and Rental Developments                                             January 1, 2011


   3.4   Development Schedule
         Submit a development schedule based on key events (acquisition, planning and zoning approval, construction, occupancy, etc.).
         Attach and label as "Exhibit as 3.4"

   3.5   Does the Applicant and/or Co-Sponsor have a previous financial involvement with this property?                   Yes        No

   3.6   Has the Applicant and/or Co-Sponsor received approval from the local Planning and Zoning Board?                  Yes        No
         If "Yes", attach and label as “Exhibit 3.6”

   3.7   Site Control (check all that apply)
         Please attach copies of all site control documents received to date.    Attach and label as “Exhibit 3.7”

                                                                                     Number of
                                                                                      Parcels
         Deed
         Option Agreement*
         Purchase Contract*
         Ground Lease
         Other (i.e. -- designated/preferred developer agreement)

         Deed                    Acquisition Price                               Acquisition date
         Option Agreement*       Expiration Date
         Purchase Contract*      Expiration Date
         Ground Lease             Ground Lessor                                                           Maturity Date
         Other (i.e. -- designated/preferred developer
         agreement)

         Disclosures to Seller: An Applicant or Co-Sponsor using DECD HOME funds to acquire
         property must notify sellers in writing that the acquisition is completely voluntary and that such
         Applicant and Co-Sponsor does not have the power of Eminent Domain. (Form Provided) See
         DECD Appraisal Policy if application includes acquisition.


     3.8 Site Plan
         3.8.a.    Please provide a preliminary site plan including building footprint(s) and all site improvements (minimum scale: 1” = 20’).
         Include quantitative information on gross and net square footages, building heights, parking requirements, etc. Attach and label as
         “Exhibit 3.8.a”
         3.8.b.   Please complete a Site and Building Report for each development site.
         Attach and label as “Exhibit 3.8.b”
         3.8.c.   If a Capital Needs Assessment Report has been conducted on any existing structure, attach and label as "Exhibit 3.8.c"

         3.8.d.    The Connecticut State Historic Commission/SHPO must review all proposals to determine potential impact on historic
         resources. Attach any correspondence to CHC/SHPO as well as their response letter regarding the proposal. Attach and label as
         "Exhibit 3.8.d"




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                                                                                                                               Version 1: 2008
                                 CHFA & DECD CONSOLIDATED APPLICATION FORM                                                    Submission Date:
                                        General Information and Rental Developments                                            January 1, 2011


         3.8.e.    Describe any known environmental issues and the proposed timeframe for commissioning a Phase I Environmental Site
         Assessment if one has not yet been commissioned (Environmental Report is not required for HTCC). If the report has been
         completed, please provide the Phase I Environmental Site Assessment Report. The Phase I Environmental Site Assessment
         Report must be prepared by a Connecticut Licensed Environmental Professional. The qualification of both a professional firm and
         the specific environmental consultant shall be included in the completed report. Also attach any other environmental documents
         such as asbestos or lead paint assessments. Attach and label as “Exhibit 3.8.e” Please note, for CHFA Financing and Next
         Steps, the Authority engages an outside third-party consultant (at the Applicant’s expense) to review environmental reports for
         conformance to the “CHFA Environmental/Hazardous Materials Review Guidelines”. These guidelines, which can be accessed on
         the Authority’s web page, state that the environmental consultant shall be a Connecticut licensed professional (“LEP”) listed on the
         “CTDEP List of Licensed Environmental Professionals”.

         3.8.f.   Has there been any additional studies or remidiation on the property?
                                Phase II              Yes      No
                                PhaseIII              Yes      No
                                Remediation           Yes      No
          If "Yes", attach and label as "Exhibit 3.8.f"

     3.9 Schematic Drawings
         Include all of the following items if completed. Check the items that are included with this application. If any items below are NOT
         included, attach documentation stating why it has not been submitted and when it will be submitted.

         CHFA Financing & Next Steps – A minimum of Schematic Drawings, Outline Specifications and Project Cost Summary (Cost
         Breakdown) must be submitted at time of application. Prior to Board Consideration, the Construction Documents need to be at a
         minimum of 40% complete and a Trade Payment Breakdown must be submitted.

         For all DECD projects, applicants are required to submit construction documents that are a minimum of 40% complete. Note that
         construction documents must be 100% complete prior to closing and/or prior to the Department's request for Bond Commission
         funding for projects requiring individual Bond Commission approval.

         LIHTC – Schematic Drawings and Project Cost Summary (Cost Breakdown) are required at time of application. Points will be
         awarded for either 10% or 40% complete Construction Documents.

         HTCC – A Site Plan, Location Map and Project Cost Summary (Cost Breakdown) are required at time of application.


                                 Proposed floor plans, elevations and residential unit layouts for each building and unit type in the proposed
                                 development. (minimum scale: 1/8” = 1’– 0”). Attach and label as “Exhibit 3.9.a”

                                 Outline Construction Specifications. Attach and label as "Exhibit 3.9.b"

                                 Project Cost Summary (Construction Schedule of Values). The estimates should include the identity and
                                 contact information of the party who prepared the estimates (i.e. architect, general contractor, cost estimation
                                 consultant, etc.). Attach and label as "Exhibit 3.9.c"

                                 Exploded trade payment breakdown to be submitted with 40% drawings. Attach and label
                                 as "Exhibit 3.9.d"




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                                                                                                                                 Version 1: 2008
                                 CHFA & DECD CONSOLIDATED APPLICATION FORM                                                      Submission Date:
                                         General Information and Rental Developments                                                January 1, 2011


   3.13 Reduction of Affordable Units
                3.13     Will the proposed development result in a reduction of affordable units?                    Yes             No
                  If yes, please complete the following chart.

                                                           60% AMI or below       60% - 80% AMI
                                 How many units will be
                                 lost?
                                 How much square
                                 footage will be lost?

   3.14 Market Survey / Development Need
        3.14.a Please provide a brief description that demonstrates the need for this development and that describes the local market
        conditions including the supply of affordable housing. In addition, attach the Market Survey (see exhibit 3.14). Attach and label as
        “Exhibit 3.14.a”

         3.14.b Market Study/market Analysis/Waiting Lists (DECD Only) If applying for DECD funds, development need must also be
         documented by either a market analysis, market study, or waiting list. The age and source of data is critical. The more relevant and
         reliable the data, the more weight it will be given during application review. For example, waiting lists that are current and purged will
         receive the highest rating. Data will be evaluated by appropriate standards such as validity of methods, sample size and relevance
         of data to the specific project proposed. Multiple data sources are evaluated favorably, though having one very solid source is
         preferable to multiple soft sources. Attach and label as “Exhibit 3.14.b"

   3.15 Narrative Submission Requirements (DECD Program only)
        Please describe the goals and objectives for the program seeking capitalization. Include in your narrative
        responses to the following:
         3.15.a. Describe the type and level of assistance that will be provided through the program and the criteria for determining the type
         of assistance offered?
         3.15.b. What is the target area and strategies for marketing the program?
         3.15.c. Identify the projected number of loans/grants to be funded through the program, the target population, and the time period
         to complete the program.
         3.15.d. Clearly identify how the program will operate, including application intake, application review, financial underwriting, the
         available forms of assistance available to subrecipients and the criteria for determining the types of assistance offered, construction
         oversight and HQS monitoring, and legal oversight.
         3.15.e. Identify staffing needs, including specific staff roles and projected weekly hours to be spent on the program. Specific
         responsible staff must be identified for each component, including intake, application review and underwriting, construction services,
         HQS inspections, and ongoing oversight and enforcement.
         3.15.f. Describe the internal review process to assure compliance with environmental and site issues, such as floodplain
         compliance, wetlands, hazardous materials such as lead paint and asbestos, and other site and building issues.
         3.15.g. If a first-time homebuyer program, give a detailed description of the pre and post purchase counseling/training that will be
         provided. Include identification of who will conduct the training and their relevant experience. Also provide time frames (when) and
         time periods (how long) for the training.
         3.15.h. For homeownership projects, identify who will be responsible for long-term oversight of the project. This includes
         monitoring for foreclosures, potential defaults and the resale and/or recapture provisions.
         3.15.i.   For rehabilitation programs, include your rehabilitation standards. Attach and label as “Exhibit 3.16.i”

   3.16 Flood Zone
        3.16.a.   Is the proposed development located in a 100 year or 500 year FEMA mapped flood zone?                       Yes            No
         If "Yes", identify 100 year or 500 year and attach FEMA Flood Plain Map as "Exhibit 3.16.b" (DECD Only)
                                                                                                             100 year         Yes            No
                                                                                                                 500 year       Yes          No
         Letter from local official or project attorney concerning the site’s location in or not in a floodplain. Attach and label as "Exhibit
         3.16.b" (LIHTC Only)

         DECD will NOT financially support any residential development in a 100 year or 500 year
         FEMA mapped flood zone with State or Federal funds per Conn. Gen. Stat. Sec.25-68b.
         However CHFA may consider such proposals for financing.




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                                                                                                                                  Version 1: 2008
                                 CHFA & DECD CONSOLIDATED APPLICATION FORM                                                        Submission Date:
                                         General Information and Rental Developments                                               January 1, 2011


   3.17 Reduction of Affordable Units (HOME Only)
        3.17.      If the proposed development will result in a loss or reduction of affordable units, please provide the Applicant and Co-
        Sponsor’s plan to replace the units in accordance with Section 104(d) (Barney Frank Amendment). Please provide copies of all local
        official document certifying any units that are not suitable for rehabilitation. Attach and label as “Exhibit 3.17"


                                                           SECTION IV. FINANCING

   4.1   Sources of Funds
         Complete the Sources of Funds exhibit. List all proposed sources for both construction and permanent financing. Be as descriptive
         as possible. Provide terms and repayment provisions for all financing, including a detailed description of the terms and sources for
         interim or bridge financing, if any. If proposal includes LIHTC, a syndication letter setting forth the discounted value of the credit
         must be provided. Include copies of all funding commitments. Attach and label as "Exhibit 4.1"

    4.2 Applicant and Co-Sponsor’s Financing Request

                                                              Construction    Permanent
                                                             Funding Amount Funding Amount
         HOME                                                       0              0
         Affordable (FLEX)                                          0              0
         Housing Trust Fund                                         0              0
         CHFA Multifamily Fin.                                      0              0
         Next Steps                                                 0              0
         PRIME                                                      0              0

    4.3 Applicant and Co-Sponsor’s Equity Request
                                                              Construction    Permanent
                                                             Funding Amount Funding Amount
         LIHTC Proceeds (Fed)                                       0              0
         HTCC Proceeds (State)                                      0              0

         NOTE: *The Department of Economic and Community Development and the Connecticut Housing Finance
         Authority reserve the right to determine the financing instrument, if any, they will offer the applicant regardless of
         the application request, based on the outcome of each agency’s underwriting.

   4.4   Eligible Basis (LIHTC only)
         Attestment letter from tax counsel re: eligible basis. Attach and label as “Exhibit 4.4”

   4.5   Syndication Expenses (LIHTC only)
         Itemized list of all syndication related expenses. Attach and label as “Exhibit 4.5”

   4.6   Development Budget
         Please provide an itemized budget listing all proposed uses of funds (hard and soft costs) for the development. For proposals using
         Federal Low Income Housing Tax Credits (LIHTCs), Applicant and Co-Sponsors should provide a separate calculation showing how
         the anticipated amount of net LIHTC proceeds shown in the proposed sources of funds was calculated or determined. Include a
         letter or term sheet from the proposed syndicator or investor evidencing availability and applicable terms. Attach and label as
         "Exhibit 4.6"
   4.7   Labor Standards/Prevailing Wages (DECD HOME Program ONLY)
         For projects that trigger federal prevailing wage requirements, the bid and construction documents must include all standard Federal
         Labor Compliance clauses and the cost estimate must be based on Davis-Bacon costs. Contact your DECD Project Representative
         prior to submission of the application to determine if Federal Labor requirements will be triggered. DECD will provide boilerplate
         contract language and Federal Wage Rates as appropriate. Developers, Consultants, Contractors and Subcontractors must be
         cleared from State and Federal Suspended and Debarred Contractors Lists.

         Will Davis Bacon wage rates be required for this project? (check "Yes" if there will be 12 or more HOME assisted units)
             Yes          No

          For DECD requests, applicants must identify the specific uses of DECD funds since certain
         uses may trigger specific federal compliance requirements. Identify these costs in the two
         right hand columns of the development budget.




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                                                                                                                                  Version 1: 2008
                                 CHFA & DECD CONSOLIDATED APPLICATION FORM                                                     Submission Date:
                                         General Information and Rental Developments                                              January 1, 2011


   4.8   LIHTC Calculation
         Complete the LIHTC Calculation worksheet. Attach and label as "Exhibit 4.8"

                                                   SECTION V. RENTAL DEVELOPMENTS

   5.1   Rental Income Calculation Worksheet
         Identify the rent structure of the development by income targets, bedroom mix, and populations to be served. This exhibit also
         identifies Utility Allowances and amenities. If development is utilizing rental subsidies, include executed rental assistance contract or
         other documentation from appropriate agency. Attach and label as "Exhibit 5.1"

   5.2   Operating Expenses
         5.2.a    Detailed Expenses
         Please complete the attached detailed expense form identifiying the estimated operating expenses for the initial stabilized Net
         Operating Income (NOI) for the development to be used in the cash flow analysis. Income and expenses on the Consolidated
         Proforma are to be trended to the estimated stabilized year. Attach and label as "Exhibit 5.2.a"

         5.2.b    Line by Line Explanation of Expenses
         Please explain all income and expense line items in an attached document. Attach and label as "Exhibit 5.2.b"
         5.2.c    Expense Summary
         The Expense summary included in the application package will be self-generated based on the Detailed Expense Form. No input
         required. Attach and label as "Exhibit 5.2.c"
         5.2.d    Tax Schedule
         Please provide documentation from the local Tax Assessor regarding the estimated “as developed” annual real estate tax burden on
         the property for the selected pro forma year. If full taxes are not to be paid (i.e. full or partial abatement), provide a year-by-year
         analysis of the proposed real estate tax schedule and include the annually scheduled amounts as part of the Cash Flow Projection.
         Attach and label as "Exhibit 5.2.d"

         5.2.e. Tax Abatement / PILOT
         Is there a tax abatement or Payment in Lieu of Taxes (PILOT) associated with this development?             Yes      No
          If "Yes", attach evidence and label as “Exhibit 5.2.e”

   5.3   Cash Flow Projection
         Please provide a multi-year cash flow projection covering the full term of the proposed CHFA and/or DECD financing. No input
         required. Attach and label as “Exhibit 5.3”

   5.4   Model Lease (DECD only)
         Please attach a copy of the proposed model lease to be used in the development. Attach and label as “Exhibit 5.4”

   5.5   Evidence of Utility Allowance
         Attach and label as “Exhibit 5.5”




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                                                                                                                              Version 1: 2008
                                 CHFA & DECD CONSOLIDATED APPLICATION FORM                                                Submission Date:
                                        General Information and Rental Developments                                           January 1, 2011




The undersigned understands that he/she may be prosecuted for false statement under the laws of the State of Connecticut
under Section 53a-157 of the General Statutes, as amended from time to time, for any false statement made herein; and, the
undersigned has been duly authorized to submit the attached in its name.


It is hereby represented by the undersigned as an inducement to the Department of Economic and Community Development
and the Connecticut Housing Finance Authority to consider the financial assistance requested herein, that to the best of my
knowledge and belief no information or data contained in this application or in the attachments are in any way false or
incorrect and that no material information has been omitted. The undersigned understands that the Department of Economic
and Community Development and/or Connecticut Housing Finance Authority will rely on the information in this application
and that, if the application is approved, any deliberate omissions, misrepresentations and/or incorrect statements in this
application may result in withdrawal of the application from the review process at the Department of Economic and
Community Development’s and/or Connecticut Housing Finance Authority’s discretion.


The undersigned agrees that banks, credit agencies, the Connecticut Department of Labor, the Connecticut
Department of Revenue Services, the Connecticut Department of Environmental Protection, and other references are
hereby authorized now, or anytime in the future, to give the Department of Economic and Community Development
and the Connecticut Housing Finance Authority any and all information in connection with matters referred to in this
application, including information concerning the payment of taxes by the Applicant and Co-Sponsor. In addition, the
undersigned agrees that the funds that may be provided pursuant to this application be utilized exclusively for the
purposes represented in this application, as may be amended.




Applicant Signature                                                                                             Date




Co-Sponsor Signature                                                                                            Date
The undersigned understands that he/she may be prosecuted for false statement under the laws of the State of Connecticut under Section 53a-
157 of the General Statutes, as amended from time to time, for any false statement made herein; and, the undersigned has been duly
authorized to submit the attached in its name.




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                                                                                                                                                                                              Version 1: 2008
                                                                                       EXHIBIT CHECKLIST                                                                                     Submission Date:
                                                                                                                                                                                              January 1, 2011

      DEVELOPMENT NAME                                                             0                                                         APPLICANT                                   0

    = Not applicable                                                        N          = Non-Threshold Item - if applicable, required prior to approval. If available, include with application.
T = Threshold Item - if applicable, required at application submission

                  Check if submitted or Mark N/A                           THIS FORM MUST BE SUBMITTED WITH INITIAL APPLICATION & ALL RESUBMISSIONS                                                 CHFA/
                                                                                                                                                                                                   DECD use
    DECD Funding                         CHFA Funding
                                                                                                                                                                                                     only
                                         Next                            Exhibit
Program      Project    Financing                    LIHTC       HTCC
                                         Steps                           Number
                                                                                       SECTION I. APPLICANT & CO-SPONSOR
T           T                        N           T           T             1.5         Organizational Documents
T           T           T            T                                     1.8         Financial Statements and Annual Operating Budget
T           T           T            T                                    1.9.a        Applicant's and Co-Sponsor's Record of Performance
T           T           T            T                                    1.9.b        Applicant Capacity (Form Provided)
T           T           T            T           T                        1.10         Explanation of Bankruptcy
T           T           T            T           T                        1.11         Explanation of Current Taxes
                                                                                       SECTION II. DEVELOPMENT TEAM
T           T           T            T           T           T             2.1         Qualified Development Team Contact Information (Form Provided)
                        N            N                                     2.2         Management Agent Approval
                        N            N                                    2.2.a          Connecticut Real Estate Broker’s’ License
                        N            N                                    2.2.b          Agent is registered to do business in the State of Connecticut
                        N            N                                    2.2.c          Experience in management of multifamily residential housing
                        N            N                                    2.2.d          Experience managing LIHTC developments
                        N            N                                    2.2.e          List of all multifamily housing developments the Agent has managed
                        N            N                                    2.2.f          Financial statements of the Agent’s principals
                        N            N                                    2.2.g          Company profile
                        N            N                                    2.2.h          Maintain an office within the State of Connecticut
                        N            N                                     2.2.i         Statement of familiarity and intention
                        N            N                                    2.2.j          CHFA staff visit Management Agent property
                        N            N                                    2.2.k          Oral presentation of management services
T           T                                                              2.2         Construction Procurement Plan
                                                                                       SECTION III. DEVELOPMENT
            T                        N           T           T            3.1.a        Qualified Census Tract
            T                        N                       T            3.1.b        Multiple and/or Scattered Site Detailed Listing
T           T           T            N           T           T            3.3.a        Development Description
            T           T            N           T           T            3.3.b        Location Map, Plot Plan and/or Site Layout
T           T           T            T           T                        3.3.c        Compliance with State Plans
                        T                        T                        3.3.d        Residential Equipment
T           T           T            N           T           T             3.4         Development Schedule (Form Provided)
            T           N            T           T           N             3.6         Planning & Zoning Board Approval
            T           T            T           T           N             3.7         Site Control Documentation
            T           T            N           T           T            3.8.a        Site Plan
            T           T            N           T           N            3.8.b        Site & Building Report (Form Provided)
            N           N            N           T                        3.8.c        Capital Needs Assessment Report
T           T           T           N                                     3.8.d        Historic Property Documentation
T           T           T           N            T           T            3.8.e        Phase I Environmental Site Assessment or other Site Hazardous Materials Review
N           N           N            N                                    3.8.f        Phase II Environmental Site Assessment report
            T           T            N           T                        3.9.a        Schematic Drawings
            T           T            N           T                        3.9.b        Outline Specifications (Form Provided)
            T           T            N           T           T            3.9.c        Project Cost Summary (Form Provided)
N           N           N            N                                    3.9.d        Exploded Trade Payment Breakdown (Form Provided)
T           T           T            T                                    3.14.a       Market Survey (Form Provided)
T           T                                                             3.14.b       Market Study/Market Analysis/Waiting Lists
T                                                                         3.15         Narrative Submission for Programs
T           T                                    T                        3.16.a       Flood Zone




      C:\Docstoc\Working\pdf\File \ Exhibit Checklist                                                                                                                                          13 of 48
                                                                                                                                                                                             Version 1: 2008
                                                                                      EXHIBIT CHECKLIST                                                                                     Submission Date:
                                                                                                                                                                                             January 1, 2011

      DEVELOPMENT NAME                                                            0                                                         APPLICANT                                   0

    = Not applicable                                                       N          = Non-Threshold Item - if applicable, required prior to approval. If available, include with application.
T = Threshold Item - if applicable, required at application submission

                  Check if submitted or Mark N/A                           THIS FORM MUST BE SUBMITTED WITH INITIAL APPLICATION & ALL RESUBMISSIONS                                                CHFA/
                                                                                                                                                                                                  DECD use
    DECD Funding                         CHFA Funding
                                                                                                                                                                                                    only
                                         Next                            Exhibit
Program      Project    Financing                    LIHTC       HTCC
                                         Steps                           Number
                                                                                      SECTION IV. FINANCING
T           T           T            T           T           T             4.1        Sources of Funds (Form Provided)
                                                 T                         4.4        Eligible Basis
                                     T           T                         4.5        Syndication Expenses
T           T           T            N           T           T             4.6        Development Budget (Form Provided)
                        T                        T           T             4.8        LIHTC Calculation (Form Provided)
                                                                                      SECTION V. RENTAL DEVELOPMENTS (N/A for Homeownership Projects)
            T           T            T           T           T             5.1        Rental Income Calculation Worksheet (Form Provided)
            T           T            T           T           T            5.2.a       Detailed Income & Expense Form (Form Provided)
N           N           N            N                                    5.2.b       Line by Line Explanation of Expenses
            T           T            T           T           T            5.2.c       Expense Summary (Generated Form)
            T           T            N           T                        5.2.d       Tax Schedule
            T           T            N           T                        5.2.e       Real Estate Tax Estimate / PILOT
            T           T            T           T                         5.3        Cash Flow Projection (Generated Form)
            T                                                              5.4        Model Lease
            N           N            N           N           N             5.5        Evidence of Utility Allowance




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                                                                                                                                             Version 1: 2008

                                                                    DEVELOPMENT SUMMARY                                                  Submission Date:
                                                                                                                                          January 1, 2011


                   DEVELOPMENT NAME                                 0                     APPLICANT                            0

   PERMANENT SOURCES of FUNDS                                                     FUNDING GAP
   CHFA SOURCES                                                 0                 TOTAL SOURCES             0
   CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ]               0                 TOTAL USES                0
   CHFA 1st Mortg. Loan [ Taxable Bonds ]                       0                 FUNDING GAP              $0
   CHFA 1st Mortg. Loan [ Non-Bond Proceeds ]                   0
   CHFA Next Steps Funds                                        0
   Federal LIHTC Net Proceeds                                   0
                                                                                  RESIDENTIAL UNIT MIX
   DECD SOURCES                                                 0                                       NUMBER          NUMBER OF     TOTAL
   DECD / HUD HOME Funds                                        0                                      OF RENTAL      HOMEOWNERSHIP NUMBER OF
   DECD Affordable Housing Program - FLEX                       0                                         UNITS            UNITS      UNITS
   DECD Housing Trust Fund                                      0                             0-BR          0                            0
   DECD / HUD CDBG Small Cities Funds                           0                             1-BR          0                            0
   DECD Other [ Specify ]                                       0                             2-BR          0                            0
                                                                                              3-BR          0                            0
   HOMEOWNERSHIP SALES PROCEEDS                                 0                             4-BR          0                            0
                                                                                              5-BR          0                            0
   OTHER SOURCES                                                0                     TOTAL UNITS           0                0           0
                                                                                  Gross Square Feet      #DIV/0!          #DIV/0!     #DIV/0!
                                     TOTAL SOURCES             $0


   USES                                                                           OPERATING PROJECTION
   Construction Hard Costs                          0.0%        0                                               Proforma Stabilized Year =          0
   Construction Contingency                         0.0%        0
   Architectural / Engineering                      0.0%        0                          INCOME
   Finance and Interim Costs                        0.0%        0                          TOTAL RESIDENTIAL REVENUE                                0
   Soft Costs (Fees and Expenses)                   0.0%        0                          TOTAL NON-RESIDENTIAL REVENUE                            0
   Developer Allow. / Fee (Overhead+Profit)         0.0%        0
   Pre-Develop. Carrying Costs                      0.0%        0                                                    GROSS INCOME                   0
   Site Acquisition (Recognized)                    0.0%        0                                            LESS: Overall Vacancy Loss             0
   Capitalized Reserves                             0.0%        0                                     EFFECTIVE GROSS INCOME (EGI)                  0
   Other                                            0.0%        0
                      Recognized Lending Costs      0.0%        0                          EXPENSES                                                 0
   Entity / Syndication / Other Costs               0.0%        0

                                         TOTAL USES            $0                                               ESTIMATED INITIAL NOI              $0


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                                                                                                                                          Version 1: 2008
                                                     Exhibit 1.9.b. - APPLICANT CAPACITY FORM                                            Submission Date:
                                                                                                                                          January 1, 2011


   DEVELOPMENT NAME                             0                                           APPLICANT                      0

CURRENT PROJECTS UNDERWAY
                                                                                                               Planned        Total
                                                                                          # of      Date      Completion   Development
Applicant/Co-Sponsor Name                 Project Name                       Stage        Units   Initiated      Date        Budget      Town/ City




PROJECTS COMPLETED
                                                                                                                              Total
                                                                                          # of      Date        Date       Development
Applicant/Co-Sponsor Name                 Project Name                    Project Type    Units   Initiated   Completed      Budget      Town/ City




PROJECTS OF SIMILAR TYPE & SCALE
                                                                                                                              Total
                                                                                          # of      Date        Date       Development
Applicant/Co-Sponsor Name                 Project Name                    Project Type    Units   Initiated   Completed      Budget      Town/ City




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                                                                                                                                            Version 1: 2008
                                  Exhibit 2.1 - QUALIFIED DEVELOPMENT TEAM CONTACT INFORMATION                                             Submission Date:
                                                                                                                                            January 1, 2011

DEVELOPMENT NAME                                      0                              APPLICANT                                   0

APPLICANT
(Owner/Mortgagor):                0
                    Address:      0
                                  , 0                                                         Website:
                 Principal(s):
            Contact Person:       0                                                     Email Address:     0
         Telephone Number:        0                                                       Fax Number:      0

         Identity of interests:       Yes        No                    Entity:
DEVELOPER
(Legal Name):
                    Address:
                                                                                              Website:
                 Principal(s):
            Contact Person:                                                             Email Address:
         Telephone Number:                                                                Fax Number:

         Identity of interests:       Yes        No                    Entity:


ARCHITECT
                    Address:
                                                                                              Website:
                 Principal(s):
            Contact Person:                                                             Email Address:
         Telephone Number:                                                                Fax Number:

         Identity of interests:       Yes        No                    Entity:


ENGINEER
                    Address:
                                                                                              Website:
                 Principal(s):
            Contact Person:                                                             Email Address:
         Telephone Number:                                                                Fax Number:

         Identity of interests:       Yes        No                    Entity:


CONSULTANT
                    Address:
                                                                                              Website:
                 Principal(s):
            Contact Person:                                                             Email Address:
         Telephone Number:                                                                Fax Number:

         Identity of interests:       Yes        No                    Entity:
    Services to be provided:
            Estimated Cost:                                                          Estimated Hours:
      SS / Federal Tax ID #:                                                                    Is this firm a certified Small Business firm?
                                                                                  Is this firm a certified Minority/Women-Owned Enterprise?




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                                                                                                    Version 1: 2008
                                  Exhibit 2.1 - QUALIFIED DEVELOPMENT TEAM CONTACT INFORMATION     Submission Date:
                                                                                                    January 1, 2011


CONTRACTOR
                    Address:
                                                                                       Website:
                 Principal(s):
            Contact Person:                                                       Email Address:
         Telephone Number:                                                          Fax Number:

         Identity of interests:   Yes            No                    Entity:

PROPERTY MANAGER
                    Address:
                                                                                       Website:
                 Principal(s):
            Contact Person:                                                       Email Address:
         Telephone Number:                                                          Fax Number:


         Identity of interests:    Yes           No                    Entity:


TAX CREDIT SYNDICATOR
                    Address:
                                                                                       Website:
                 Principal(s):
            Contact Person:                                                       Email Address:
         Telephone Number:                                                          Fax Number:

         Identity of interests:    Yes           No                    Entity:


SERVICE PROVIDER
                    Address:
                                                                                       Website:
                 Principal(s):
            Contact Person:                                                       Email Address:
         Telephone Number:                                                          Fax Number:

         Identity of interests:    Yes           No                    Entity:


OTHER
                    Address:
                                                                                       Website:
                 Principal(s):
            Contact Person:                                                       Email Address:
         Telephone Number:                                                          Fax Number:

         Identity of interests:    Yes           No                    Entity:


OTHER
                    Address:
                                                                                       Website:
                 Principal(s):
            Contact Person:                                                       Email Address:
         Telephone Number:                                                          Fax Number:

         Identity of interests:    Yes           No                    Entity:




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                                                                                                                                    Version 1: 2008

                                                        Exhibit 3.4 - DEVELOPMENT SCHEDULE                                         Submission Date:
                                                                                                                                    January 1, 2011


             DEVELOPMENT NAME                                         0                             APPLICANT                  0

                 Activity                                 Date:                                           CHFA/DECD Use Only
                                                        Month/Year

Current Year:                                             2008
Site:
        Option/Contract
        Site Acquisition
        Zoning Approval
        Site Analysis
Financing:
        Construction Loan
              Loan Application
              Conditional Commitment
              Firm Commitment
        Permanent Loan
              Loan Application
              Conditional Commitment
              Firm Commitment
        Other Loans & Grants
              Type & Source:                                                                 (describe)
              Application
              Award
        Other Loans & Grants
              Type & Source:
              Application
              Award
        Other Loans & Grants
              Type & Source:                                                                 (describe)
              Application
              Award
Plans & Specifications:
              Schematics
              40% drawings

              100% drawings
Closing & Transfer of Property
Construction Start
Completion of Construction
Lease-up
Sustaining Occupancy
Proforma Stabalized Year*
LIHT Credit Placed-In-Service Date


Will project construction be in phases?           Yes                 No


If Yes, please indicate phase below and provide a separate schedule for each
phase on separate sheet.
                                   Phase:


* Proforma Stabilized Year (PSY) is the first full year following leaseup with sustaining occupancy. For
example, if sustaining occupancy is projected to occur in March of 2009, the PSY would be 2010.




                                                                      Development Schedule
                                                                                                                      Version 1: 2008
                                      Exhibit 3.8.b - SITE AND BUILDING REPORT                                        Submission Date:
                                                                                                                       January 1, 2011

       DEVELOPMENT NAME                               0                          APPLICANT                            0




                                            SECTION 1- GENERAL INFORMATION

Site name (if any):
Address:                 0
Town/City:               0                                      State:       0                           Zip:     0

Type of Housing Proposed:                                                               # of Units:                   0

Acquisition Date             1/0/00

                                           SECTION 2- PROPERTY INFORMATION

Present Owner:
Telephone #:                                      FEIN #:                               SSN (if individual):
Address:
Town/City:                                                      State:                                   Zip:

Present Lessee:
Telephone #:                                      FEIN #:                               SSN (if individual):
Address:
Town/City:                                                      State:                                   Zip:

Option Holder:
Telephone #:                                      FEIN #:                               SSN (if individual):
Address:
Town/City:                                                      State:                                   Zip:

Acreage:                              Shape:                 Dimensions:                              Frontage:

Size of Open Space:                                             Buildable Space Size:

Easements:                                        Liens:                                R.O.W.:

Present Zoning:                                           Required Zoning:

Assessors Map:                         Section:                 Parcel:                    Lot:

Adjacent Property Use:

        North:

        South:

         East:

        West:




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                                                                                                               Version 1: 2008
                                          Exhibit 3.8.b - SITE AND BUILDING REPORT                             Submission Date:
                                                                                                                January 1, 2011


                                                     SECTION 3- PROPERTY ASSESSMENT

For the 2 charts below, check one box for each factor/condition
Site Location:
Facilities                                                                        Distance
Recreation                                              <.5 miles                 .5- 1 miles    1-2 miles             >2 miles
Stores                                                  <.5 miles                 .5- 1 miles    1-2 miles             >2 miles
Schools                                                 <.5 miles                 .5- 1 miles    1-2 miles             >2 miles
Places of Worship                                       <.5 miles                 .5- 1 miles    1-2 miles             >2 miles
Public Transportation                                   <.5 miles                 .5- 1 miles    1-2 miles             >2 miles
Fire Station                                            <.5 miles                 .5- 1 miles    1-2 miles             >2 miles

Site Conditions:
Conditions                                                                        Factors
Access                                                  No Road                   Minor Road     Major Road            Highway
Agricultural Soils                                      None                      Local          State                 PRIME
Floodplain                                              None                      100 yrs        100-500yrs            500+ yrs
Wetlands (swamps, marshes)                              None                      1 - 25%        26 - 50%              >50%
Slope-              Family                              0%                        1 - 10%        11 - 15%              >15%
Slope-              Elderly                             0%                        1 - 5%         6 - 10%               >10%
Water Supply                                            Watershed                 Within 1000'   Private               Wells
                                                        Protected                 of well        Dense                 Sparse
Access to Utilities-      Public Water                  Not Available             Within 500'    Within 200'           At Site
Access to Utilities-      Sanitary Sewers               Not Available             Within 500'    Within 200'           At Site
Access to Utilities-      Storm Sewers                  Not Available             Within 500'    Within 200'           At Site
Access to Utilities-      Electric                      Not Available             Within 500'    Within 200'           At Site
Access to Utilities-      Gas Line                      Not Available             Within 500'    Within 200'           At Site

Do ledge or rock outcroppings appear on the site?                                                              Yes              No


Does the municipality require underground utilities?                                                           Yes              No


Will utilities need to be brought to the site?                                                                 Yes              No

If "Yes", estimate expense to accomplish task:

Will road(s) need to be provided for the project?                                                              Yes              No
If "Yes", will it be a public or private road?             Public       Private


Estimated Cost            Length (feet)                 Cost/L.F.                 Total Cost
Offsite Road(s)                                  x                       =                $0
Onsite Road(s)                                   x                       =                $0

Is the site located in an Historical District?                                                                 Yes              No


                                                     SECTION 4- BUILDING INFORMATION

Total number of existing buildings on site:
Age of building(s) on site:




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                                                                                                                                 Version 1: 2008
                                        Exhibit 3.8.b - SITE AND BUILDING REPORT                                                Submission Date:
                                                                                                                                 January 1, 2011


Building Type (check all that apply):
                                         Free standing/detached                     Townhouse                  Duplex                    Multi-unit
                                         Semi-attached                              Walk-up                    Elevator                  Other

                        If Other, Describe:

Number of Stories:                                    Type of Construction:

Existing net residential square footage of the building(s):                                       S.F.

Are buildings currently occupied?                                                                                                Yes              No
                        Describe:



Will the proposed activity result in requirements pertaining to the
Uniform Relocation and/or Replacement Act?                                                                                      Yes               No


If "No", how long has it been vacant? (Months/Years):



Are any sites' structures of historical significance?                                                                           Yes               No


If "Yes" describe:



Has the federal, state, or local Historical Commission determined that
the building historical significance?                                                                                           Yes               No


Has SHPO been notified of the impending rehab?                                                                                  Yes               No


                                               SECTION 5- BUILDING(S) ASSESSMENT

                        Indicate the age of the following conditions and check one box to describe its current condition. If there are multiple
                        buildings, provide chart for each building.
Existing Conditions                         Age                         Good                         Fair                      Poor
Roof
Exterior
Interior
Windows
Mechanical Systems
Insulation
Electrical Systems
Floor
Structural Systems

                               SECTION 6- SITE AND BUILDING ENVIRONMENTAL INFORMATION

What were/are the past and current uses of the property? (check all that apply)
   Undeveloped                      Industrial              Commercial                                         Residential               Other
Describe uses:



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                                                                                                                       Version 1: 2008
                                       Exhibit 3.8.b - SITE AND BUILDING REPORT                                       Submission Date:
                                                                                                                       January 1, 2011


What was the most recent business activity at the site?
Is Lead-based paint evident?                                                                                          Yes              No


Are any potentially asbestos containing materials evident? (Check all that apply)
   Ceiling Tiles                      Floor Tiles            Sprayed-on Fireproofing                    Pipe insulation Wrap
   Acoustical Plaster                 Other
Describe materials:

Are there now, or have there ever been, any underground
or aboveground storage tanks on the property?                                                                         Yes              No
If "Yes" Describe:

Are there transformers or capacitors on the property, which may contain PCBs?                                         Yes              No
If "Yes" Describe:

Were any chemicals or fuels handled at the site?                                                                      Yes              No
If "Yes" Describe:

Are any of the following obvious physical signs of contamination on or around the property? (check all that apply)
   Stained soil or concrete                                  Vegetation Damage                    Foul or unusual odors
   Oily sheens or discoloration of surface water             Other
Describe:

Are there groundwater wells on the property?                                                                          Yes              No


Is the groundwater in the immediate area used as a source of drinking water?                                          Yes              No


Are there any easements on the property (roads,pipelines) with potential environmental implications?                  Yes              No


Is the property the subject of environmental litigation, regulatory citations, or enforcement action?                 Yes              No


Are there any adverse press reports or complaints on file concerning the property?                                    Yes              No


Is the property, or any of the adjacent properties, on a federal, state,
or local list of hazardous waste or contaminated sites?                                                               Yes              No


Could the activities at adjacent businesses or properties pose potential environmental risks?                         Yes              No


Is the property near any floodplain, wetland or sensitive ecological area?                                            Yes              No


                                        SECTION 7- PROPOSED PROJECT INFORMATION

Proposed plan for existing building(s): (check all that apply)                No Change                           Demolition
                                       Adaptive Reuse                         Moderate Rehab                      Substantial Rehab

What is the square footage of the building(s)?
                                                    Cost per Square Foot
Residential:                            s.f.                 #DIV/0!
Commerical:                             s.f.                 #DIV/0!
Other:                                  s.f.                 #DIV/0!
Total:                               0 s.f.                  #DIV/0!

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                                                                                                                              Version 1: 2008
                                         Exhibit 3.8.b - SITE AND BUILDING REPORT                                            Submission Date:
                                                                                                                              January 1, 2011



What is the percentage of square feet to be funded by DECD?                                     %

Will the proposed project have more than 150 bedrooms?                                                                       Yes              No


For the chart below, indicate the energy sources proposed for each building and function:


Type of Service                                       Proposed Energy Source
Heating
Cooling
Hot Water
Cooking

Will there be elevator service in the building?                                                                              Yes              No


For the chart below, indicate the number of units that are designed and equipped for persons with physical disabilities
as well as units for persons without physical disabilities. All units on the first or ground floor or served by an elevator must
be wheelchair accessible.

Type of Unit                                                              Bedroom Size
                                               1            2              3         4              5          Total
Basement: Accessible                                                                                            0
Basement: Non-Accessible                                                                                        0
1st Floor: Accessible                                                                                           0
1st Floor: Non-Accessible                                                                                       0
2nd Floor: Accessible                                                                                           0
2nd Floor: Non-Acessible                                                                                        0
3rd Floor: Accessible                                                                                           0
3rd Floor: Non-Accessible                                                                                       0
Total Number of Units:                         0            0              0                0       0           0

                                          Total Accessible:                0        Total Non-Accessible:       0



                                                        Section 8- Project Approvals

In the chart below, list approvals currently in place and attach copies of each approval. (Zoning, etc.)

                 Type of Approval                      Approved       Expiration                        Special Conditions
                                                         Date           Date




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                                                                                                                    Version 1: 2008
                                        Exhibit 3.8.b - SITE AND BUILDING REPORT                                   Submission Date:
                                                                                                                    January 1, 2011


In the chart below, list approvals still required but not in place. (Zoning, etc)

                 Type of Approval                    Probable Date of Receipt             Anticipated Special Conditions




                                                   SECTION 9- SUPPORTING DATA

The following materials and maps need to be attached to this document:

-Directions to the site from a major highway
-An 8 1/2" X 11" section of the 1:24,000 scale U.S. Geological Survey map showing the proposed site
-A 1" = 500' (min) to 1" = 200' (max) street map of approximately a 3/4 mile radius around the site with Public and
Community Facilities located
-A plot plan from the Assessor's office showing boundaries and dimensions, adjacent lots and streets
-Evidence of existing zoning and eligible uses or applicable zoning regulations/ordinances
-Information from the City or Town Engineer's office vis-à-vis grades, farmlands, sub-soils, ledge, floodplains, wetlands,
topography, or other unusual site conditions
-Soils and utility maps for the site
-Boring or test pit reports made on the site or adjacent sites
-Site and building (interior and exterior) photographs. Include a minimum of six for both interior and exterior.




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                                                                                                                                                             Version 1: 2008

                                                     Exhibit 3.9.b - OUTLINE SPECIFICATIONS                                                                  Submission Date:
                                                                                                                                                              January 1, 2011


    DEVELOPMENT NAME                                       0                                        APPLICANT                                  0

Address:            0

City/Town:          0                                       State:        0                                                Zip:        0

Mortgagor:                                                                                                                                                                  0



Prepared by:                                                                                                              Date:

Title:                                                   Company:


                                                                              SITE IMPROVEMENT


Parking Lot (material/thickness):

Curb (material):                                                                            Sidewalk (material):

Special Site Conditions (slope, wetlands, hazardous materials):


                                                                    FOUNDATIONS AND FOOTINGS


Basement walls (material, height):

Crawl Space:                 Yes                No                        Sidewalk:           Yes              No

Insulation (type and R-value):
                                                                                                     Yes            No
Waterproofing (type):                                                     Footing drains:

Soil Type:                                                                Bearing capacity:

Water table (ft below grade):


                                                                  INTERIOR STRUCTURAL SYSTEMS


Vertical load bearing members (structural steel/wood frame/masonry):

Floor system(s):

Roof system(s):

Wall system(s):


                                                                           EXTERIOR ENVELOPE


Wall system (materials/size/spacing):

Insulation (R-value) for:               Roof:                     Wall:                              Crawl space:                      Basement:

Roof Covering (material):                                                                     Years of guarantee:

Doors (material):                                                                                          R-value:


                                                                                MECHANICAL


Plumbing Pipes:

Below grade (type/material):

Above grade (type/material):



Heating:

Boiler or furnace (type/material):                                                                    Fuel source: f

AFUE rating:                                                                                                             # of apartments per heating unit:

Domestic hot water (size):                                                                            Fuel source:

AFUE rating:




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                                                                                                                                                    Version 1: 2008

                                                              Exhibit 3.9.b - OUTLINE SPECIFICATIONS                                               Submission Date:
                                                                                                                                                    January 1, 2011


Cooling:

Central air system:                                                                                Fuel source:

EER Rating:



Fire protection/sprinkler (NFPA 13 or NFPA 13R):

Fire rating between units (walls):                                                                 STC rating between units (walls):

Fire rating between units (floors):                                                               STC rating between units (floors):


                                                                                 ELECTRICAL


Load provided (per unit):                                                   Emergency lighting system:

Lighting fixture types:



Fire alarm system (describe):




Tenant communication system (describe):




Emergency call system (describe):




Building security system (describe):




                                                                              INTERIOR FINISHES


                                         Dwelling Units                                                       Public Areas

                      living/dining    bedroom         bath       kitchen         lobby            corridor              stairway      lavatory

Floor

Wall

Ceiling


I hereby certify that the above Outline Specification information was
prepared under my guidance and direction for the development known as:                                                        0
I further certify that the preparation of the Outline Specifications includes the review and acknowledgement of the Connecticut Housing Finance Authority 2008
Standards of Design and Construction.


Prepared by:




                                           Architect                                                                         Date



                                      Firm / Company Name


Accepted by:




                              Developer / Sponsor / Mortgagor                                                                Date




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                                                                                                                                                             Version 1: 2008
                                   Exhibit 3.9.c - PROJECT COST SUMMARY (Construction Schedule of Values)                                                   Submission Date:
                                                                                                                                                             January 1, 2011

        DEVELOPMENT NAME                                               0                           APPLICANT                                    0
                Number of Buildings                                                Total Retail Square Footage
      Total Project Square Footage                                                       Total Number of Units                                  0
   Total Living Unit Square Footage
**This form represents the Contractor's and/or Mortgagor's firm costs and services as a basis for disbursing dollar amounts when advances are requested.**
 LINE     DIV.                  DIV./TRADE ITEM                   TOTAL EXPENSE     COST/UNIT       COST/S.F.                              REMARKS
   1        2     Testing                                                             #DIV/0!            0
   2        2     Environmental                                                       #DIV/0!            0
   3        2     Grading & Excavation                                                #DIV/0!            0
   4        2     Site Utilities                                                      #DIV/0!            0
   5        2     Paving, Walks & Signs                                               #DIV/0!            0
   6        2     Unusual Site Conditions                                             #DIV/0!            0
   7        2     Lawns & Plantings                                                   #DIV/0!            0
   8        2     Other Site Work                                                     #DIV/0!            0
   9        2     Demolition                                                          #DIV/0!            0
   10       3     Concrete                                                            #DIV/0!            0
   11       4     Masonry                                                             #DIV/0!            0
   12       5     Metals                                                              #DIV/0!            0
   13       6     Rough Carpentry                                                     #DIV/0!            0
   14       6     Finish Carpentry                                                    #DIV/0!            0
   15       7     Moisture Protection                                                 #DIV/0!            0
   16       7     Insulation                                                          #DIV/0!            0
   17       7     Roofing                                                             #DIV/0!            0
   18       7     Sheet Metal                                                         #DIV/0!            0
   19       7     Siding                                                              #DIV/0!            0
   20       8     Doors & Hardware                                                    #DIV/0!            0
   21       8     Windows & Glazing                                                   #DIV/0!            0
   22       9     Acoustical Tile                                                     #DIV/0!            0
   23       9     Drywall                                                             #DIV/0!            0
   24       9     Ceramic Tile                                                        #DIV/0!            0
   25       9     Wood Flooring                                                       #DIV/0!            0
   26       9     Resilent Flooring                                                   #DIV/0!            0
   27       9     Painting and Decorating                                             #DIV/0!            0
   28       9     Carpet                                                              #DIV/0!            0
   29      10     Unit AC and/or Sleeves                                              #DIV/0!            0
   30      10     Specialties                                                         #DIV/0!            0
   31      11     Special Equipment (Specify)                                         #DIV/0!            0
   32      11     Cabinets & Vanities                                                 #DIV/0!            0
   33      11     Appliances                                                          #DIV/0!            0
   34      12     Blinds, Shades & Artwork                                            #DIV/0!            0
   35      13     Special Construction                                                #DIV/0!            0
   36      14     Elevators                                                           #DIV/0!            0
   37      15     Plumbing                                                            #DIV/0!            0
   38      15     Hydronic Heating                                                    #DIV/0!            0
   39      15     HVAC                                                                #DIV/0!            0
   40      15     Fire Suppression                                                    #DIV/0!            0
   41      16     Electrical (Building Only)                                          #DIV/0!            0

   42       TOTAL STRUCTURE & LAND IMPROVEMENTS                            0

   43       1      General Requirements

   44                               SUBTOTAL (Lines 42 & 43)               0

   45              Builder's Overhead & Profit
   46                               SUBTOTAL (Lines 44 & 45)               0

   47              Building Permit & Other Fees (Specify)
   48              Bond Premium
   49                      TOTAL FOR ALL IMPROVEMENTS                      $0


Within sixty (60) days after substantial completion of the Development, as determined by the Authority, and prior to Final Closing, General Contractor and identity of
interest subcontractors shall deliver to the Authority, in form and content acceptable to the Authority, audited statements of costs certified by independent certified public
accountant(s) licensed in the State of Connecticut and acceptable to the Authority, to further verify such costs.
                                Developer/Contractor                                                                     CHFA / DECD


                Signature                                      Date                          Signature                                        Date


                 Name                                          Title                            Name                                           Title




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                                                                                      Version 1: 2008
                        Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN             Submission Date:
                                                                                      January 1, 2011

  DEVELOPMENT NAME                           0                APPLICANT          0
 DIVISION                              TRADE ITEM             QUANTITY    COST        TOTAL
01 GENERAL REQUIREMENTS
         General         Project Manager                                              $0.00
         Requirements    Superintendent                                               $0.00
                         Secretary                                                    $0.00
                         Vehicle Expense                                              $0.00
                         Travel Expense                                               $0.00
                         Snow Removal                                                 $0.00
                         OSHA Protection                                              $0.00
                         Survey & Layout ( Site & Bldg.)                              $0.00
                         Weather Protection                                           $0.00
                         Project Photographs                                          $0.00
                         Dumpsters                                                    $0.00
                         Record Drawings                                              $0.00
                         Broken Glass Repair                                          $0.00
                         Temporary Toilets                                            $0.00
                         Temporary Fencing                                            $0.00
                         Temporary Heat (Winter Cond'n)                               $0.00
                         Temporary Power                                              $0.00
                         Temporary Water                                              $0.00
                         Temporary Office                                             $0.00
                         Temporary Telephone                                          $0.00
                         Temporary Fire Protection                                    $0.00
                         Tests & Inspect'ns (Unless Spec'd)                           $0.00
                         Construction Sign                                            $0.00
                         Materials Storage                                            $0.00
                         SUBTOTAL:                                                    $0.00
         TOTAL FOR GENERAL REQUIREMENTS:                                              $0.00
02 SITE WORK
         Special Testing Asbestos Removal                                             $0.00
                         SUBTOTAL:                                                    $0.00

            Environmental   Lead-Based Paint Removal                                  $0.00
                            Others (Specify)                                          $0.00
                            Demolition                                                $0.00
                            SUBTOTAL:                                                 $0.00

               Grading &  Clearing & Grubbing                                         $0.00
               Excavation Cut & Fill                                                  $0.00
                          Rock Excavation                                             $0.00
                          Foundation Excavation & Backfill                            $0.00
                          Trenching                                                   $0.00
                          SUBTOTAL:                                                   $0.00
02 SITE WORK      (Continued)
           Site Utilities Water Supply                                                $0.00
                          Sanitary Sewer                                              $0.00
                          Storm Sewer                                                 $0.00
                          Gas                                                         $0.00
                          Electric Trenching                                          $0.00
                          Electric conduit and wire                                   $0.00
                          Offsite                                                     $0.00
                          SUBTOTAL:                                                   $0.00
                                                                                     Version 1: 2008
                         Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN           Submission Date:
                                                                                     January 1, 2011

  DEVELOPMENT NAME                            0              APPLICANT          0
 DIVISION                              TRADE ITEM            QUANTITY    COST        TOTAL


              Paving       Bituminous Paving                                         $0.00
              Walks &      Boxing Out Paving                                         $0.00
               Signs       Rough / Binder Course                                     $0.00
                           Finish Coat                                               $0.00
                           Curbing                                                   $0.00
                           Signs                                                     $0.00
                           Concrete Walks and Steps                                  $0.00
                           Terrace (Specify)                                         $0.00
                           SUBTOTAL:                                                 $0.00

            Unusual Site   Rock Excavation                                           $0.00
             Conditions    Unsuitable Soil                                           $0.00
                           Others (Specify)                                          $0.00
                           SUBTOTAL:                                                 $0.00

              Lawns &      Topsoil                                                   $0.00
              Planting     Seeding & Sodding                                         $0.00
                           Plantings                                                 $0.00
                           SUBTOTAL:                                                 $0.00

               Other       Retaining Walls & Fences                                  $0.00
               Site        Benches,Tables,Playgr'nd Equip.                           $0.00
               Work        Irrigation                                                $0.00
                           Site Lighting                                             $0.00
                           Basketball Court, Tennis Court                            $0.00
                           Pool & Equipment                                          $0.00
                           SUBTOTAL:                                                 $0.00

             Demolition    (Specify)                                                 $0.00
                           SUBTOTAL:                                                 $0.00

        TOTAL FOR SITE WORK:                                                         $0.00
03 CONCRETE
        Concrete      Concrete Footings                                              $0.00
                      Foundation Walls                                               $0.00
                      Columns                                                        $0.00
                      Slab-On-Grade                                                  $0.00
                      Structural Slabs / Roof Deck                                   $0.00
                      Reinforcing Steel                                              $0.00
                      SUBTOTAL:                                                      $0.00

        TOTAL FOR CONCRETE:                                                          $0.00
04 MASONRY
        Masonry      Face Brick                                                      $0.00
                     Concrete Block                                                  $0.00
                     Ties & Reinforcing Trusses                                      $0.00
                     SUBTOTAL:                                                       $0.00

         TOTAL FOR MASONRY:                                                          $0.00
05 METALS
         Metals       Structural Steel                                               $0.00
                      Misc. Lintels & Ladders                                        $0.00
                      Steel Stairs & Handrails                                       $0.00
                      SUBTOTAL:                                                      $0.00
                                                                                  Version 1: 2008
                        Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN         Submission Date:
                                                                                  January 1, 2011

  DEVELOPMENT NAME                            0           APPLICANT          0
 DIVISION                              TRADE ITEM         QUANTITY    COST        TOTAL


        TOTAL FOR METALS:                                                         $0.00
06 CARPENTRY
             Rough   Floor Framing Lumber                                         $0.00
           Carpentry Floor Framing Trusses                                        $0.00
                     Wall Framing                                                 $0.00
                     Roof Framing Lumber                                          $0.00
                     Roof Framing Trusses                                         $0.00
                     Exterior Wall Sheathing                                      $0.00
                     Plywood Subflooring                                          $0.00
                     Plywood Underlayment                                         $0.00
                     SUBTOTAL:                                                    $0.00

              Finish      Wood Stairs & Handrails                                 $0.00
             Carpentry    Closet Shelving, Rods                                   $0.00
                          Wood Base & Moulding                                    $0.00
                          Wood Door & Window Trim                                 $0.00
                          Millwork                                                $0.00
                          SUBTOTAL:                                               $0.00

        TOTAL FOR CARPENTRY:                                                      $0.00
07 THERMAL & MOISTURE PROTECTION
            Moisture   Dampproofing                                               $0.00
            Protection Waterproofing                                              $0.00
                       Membrane Waterproofing                                     $0.00
                       Prefab. Foundation Drainage                                $0.00
                       Caulking                                                   $0.00
                       SUBTOTAL:                                                  $0.00

             Insulation   Foundation Insulation                                   $0.00
                          Wall Insulation                                         $0.00
                          Ceiling Insulation                                      $0.00
                          SUBTOTAL:                                               $0.00

              Roofing     Shingle Roofing (Specify)                               $0.00
                          Builtup Roofing (Specify)                               $0.00
                          Single Ply Roofing (Specify)                            $0.00
                          SUBTOTAL:                                               $0.00

            Sheet Metal   Gutters & Leaders                                       $0.00
                          Flashing                                                $0.00
                          SUBTOTAL:                                               $0.00

07 THERMAL & MOISTURE PROTECTION CONT.
             Siding   Vinyl / Aluminum Siding (Specify)                           $0.00
                      Wood Shingles / Siding (Specify)                            $0.00
                      SUBTOTAL:                                                   $0.00

        TOTAL FOR THERMAL & MOISTURE PROTECTION:                                  $0.00
08 DOORS & WINDOWS
            Doors &  Doors & Frames Exterior                                      $0.00
            Hardware Doors & Frames-Interior                                      $0.00
                     Door Hardware                                                $0.00
                     Specialty Doors & Frames                                     $0.00
                     SUBTOTAL:                                                    $0.00
                                                                                   Version 1: 2008
                           Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN       Submission Date:
                                                                                   January 1, 2011

  DEVELOPMENT NAME                                0        APPLICANT          0
 DIVISION                                 TRADE ITEM       QUANTITY    COST        TOTAL


08 DOORS & WINDOWS Cont.
            Windows  Windows & Glazing                                             $0.00
                     Aluminum Storefront                                           $0.00
                     SUBTOTAL:                                                     $0.00

          TOTAL FOR DOORS & WINDOWS:                                               $0.00
09 FINISHES
           Acoustical Tile Ceilings                                                $0.00
                           SUBTOTAL:                                               $0.00

                Drywall      Gypsum Board Walls                                    $0.00
                             Gypsum Board Ceilings                                 $0.00
                             SUBTOTAL:                                             $0.00

            Ceramic Tile     Flooring & Base                                       $0.00
                             SUBTOTAL:                                             $0.00

            Wood Flooring    Flooring & Base                                       $0.00
                             SUBTOTAL:                                             $0.00

            Res. Flooring    Flooring & Base                                       $0.00
                             SUBTOTAL:                                             $0.00

                Painting     Interior Painting                                     $0.00
                             Exterior Painting                                     $0.00
                             SUBTOTAL:                                             $0.00

            Carpet           Flooring                                              $0.00
                             SUBTOTAL:                                             $0.00

         TOTAL FOR FINISHES:                                                       $0.00
10 SPECIALTIES
         Unit A/C      Unit A/C and/or Sleeves (Specify)                           $0.00
                       SUBTOTAL:                                                   $0.00

            Specialties      Toilet Accessories                                    $0.00
                             Interior Signage                                      $0.00
                             Interior Mailboxes                                    $0.00
                             Other (Specify)                                       $0.00
                             Fire Extinguishers                                    $0.00
                             SUBTOTAL:                                             $0.00

         TOTAL FOR SPECIALTIES:                                                    $0.00
11 EQUIPMENT
          Special Equip. (Specify)                                                 $0.00
                         SUBTOTAL:                                                 $0.00

               Cabinets      Kitchen Cabinets                                      $0.00
               & Vanities    Bathroom Vanities                                     $0.00
                             SUBTOTAL:                                             $0.00
                                                                                        Version 1: 2008
                        Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN               Submission Date:
                                                                                        January 1, 2011

  DEVELOPMENT NAME                            0                 APPLICANT          0
 DIVISION                                TRADE ITEM             QUANTITY    COST        TOTAL


               Kitchen      Dishwasher                                                  $0.00
              Appliances    MicroWave                                                   $0.00
                            Range                                                       $0.00
                            Range Hood                                                  $0.00
                            Refrigerator                                                $0.00
                            Washer & Drain Pan                                          $0.00
                            Dryer                                                       $0.00
                            SUBTOTAL:                                                   $0.00

         TOTAL FOR EQUIPMENT:                                                           $0.00
12 FURNISHINGS
         Furnishing   Blinds, Shades & Artwork                                          $0.00
                      SUBTOTAL:                                                         $0.00

            TOTAL FOR FURNISHINGS:                                                      $0.00
13 SPECIAL CONSTRUCTION
        Special      Indoor Swimming Pool                                               $0.00
        Construction Greenhouse                                                         $0.00
                            SUBTOTAL:                                                   $0.00

            TOTAL FOR SPECIAL CONSTRUCTION:                                             $0.00
14 CONVEYING SYSTEM
       Conveying Sys Elevators                                                          $0.00
                            SUBTOTAL:                                                   $0.00

            TOTAL FOR CONVEYING SYSTEM:                                                 $0.00
15 PLUMBING, HVAC & FIRE SUPPRESSIONOT WATER
           Rough     Water Supply Piping                                                $0.00
          Plumbing   Drain,Waste & Vent Piping                                          $0.00
                            Pipe Insulation                                             $0.00
                            Gas Piping                                                  $0.00
                            SUBTOTAL:                                                   $0.00

               Finish       Kitchen Sinks & Faucets                                     $0.00
              Plumbing      Toilet Fixtures                                             $0.00
                            Lavatory Fixtures & Faucets                                 $0.00
                            Shower & Tub Enclosures                                     $0.00
                            Hot Water Heaters & Drain Pans                              $0.00
                            SUBTOTAL:                                                   $0.00

              Hydronic      Boiler Equipment                                            $0.00
              Heating       Baseboard Radiation                                         $0.00
                            Supply & Return Piping                                      $0.00
                            Pipe Insulation                                             $0.00
                            SUBTOTAL:                                                   $0.00

15 PLUMBING, HVAC & FIRE SUPPRESSIONOT WATER Cont.
               Heating      Rooftop Equipment / Furnaces                                $0.00
              Ventilation   Supply & Return Ductwork                                    $0.00
                 A/C        Registers & Grilles                                         $0.00
                            Bathroom Exhaust Fans                                       $0.00
                            Kitchen Exhuast Ductwork & Grille                           $0.00
                            Central-air System                                          $0.00
                            SUBTOTAL:                                                   $0.00
                                                                                                     Version 1: 2008
                            Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN                        Submission Date:
                                                                                                     January 1, 2011

  DEVELOPMENT NAME                                0                      APPLICANT              0
 DIVISION                                   TRADE ITEM                    QUANTITY    COST           TOTAL


              Suppr System    Suppression System - Dry / Wet                                         $0.00
                              SUBTOTAL:                                                              $0.00

            TOTAL FOR PLUMBING, HVAC & FIRE SUPPRESSION:                                             $0.00
16 ELECTRICAL (Building Only)
                 Rough        Main Service Panel & Meters                                            $0.00
                Electrical    Rough Wiring                                                           $0.00
                              SUBTOTAL:                                                              $0.00

                 Finish       Switches,Receptacles                                                   $0.00
                Electrical    Lighting Fixtures                                                      $0.00
                              Cable T.V.System                                                       $0.00
                              Security System                                                        $0.00
                              Emergency Generator                                                    $0.00
                              Emergency Call for Aid System                                          $0.00
                              SUBTOTAL:                                                              $0.00

            TOTAL FOR ELECTRICAL:                                                                    $0.00

            TOTAL FOR ALL DIVISIONS                                                                  $0.00
                                                                                     % of TDC
                              GENERAL REQUIREMENTS (Div. 01 from above)                              $0.00
                              OVERHEAD & PROFIT                                                      $0.00
                              SUBTOTAL:                                                              $0.00

              Misc. Items:    BUILDING PERMIT                                                        $0.00
                              OTHER FEES                                                             $0.00
                              BOND PREMIUM                                                           $0.00
                              SUBTOTAL:                                                              $0.00

                              GRAND TOTAL OF ALL COSTS:                                              $0.00


I hereby certify that the proposed housing can be built for the cost shown above.



Developer/Contractor Name                                              Signature                      Date



Accepted By:                  CHFA                                                    DECD


Signature                                       Date                   Signature                      Date


Name                                            Title                  Name                           Title
                                                                                       Version 1: 2008
                 Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN                     Submission Date:
                                                                                       January 1, 2011

 DEVELOPMENT NAME                  0                APPLICANT                    0
DIVISION                      TRADE ITEM             QUANTITY        COST              TOTAL


   It is standard CHFA policy to not allow payment to the Contractor for stored materials.
 CHFA will only fund materials when they are installed within the project. CHFA does,
 however, allow payment for long-lead items, i.e. elevators, precast concrete, structural
 steel or large project specific mechanical equipment. Any request for stored materials
 cost must be made directly to CHFA Underwriting and Technical Services before Initial
 Closing.
   In the event CHFA Underwriting and Technical Services approves the request for stored
 materials, these materials must be insured, secured and paid for by the Contractor. The
 materials may be stored, either on-site or off-site and must be readily available for
 inspection by the CHFA Field Observer. CHFA will also require that the General
 Contractor provide the expected cost for this storage in his General Requirements
 breakdown. A line item has been added to the Exploded Trade Payment Breakdown, “
 Materials Storage” for this purpose. Any materials not approved as stored materials,
 purchased by the Contractor or Subcontractor, will be at their expense until such time as
 the material has been installed within the project. Once these materials have been
 accepted by the Owner and the CHFA Field Observer, CHFA will fund the expense
                                                                                                           Version 1: 2008
                                           Exhibit 3.14 - Market Survey                                   Submission Date:
                                                                                                           January 1, 2011

             DEVELOPMENT NAME                     0                           APPLICANT               0



Complete the following information for each development in the proposed project's primary market area. Attach
extra sheets if necessary. The primary market area for the proposal is defined as:

Development Name:
Address:


                                                                                Utilities Included,
                Unit Mix/Rent:          # of Units            Rent/Mo.               Yes or No
                    0-BR:
                    1-BR:
                    2-BR:
                    3-BR:
                    4-BR:

     Distance to proposed site:
     Comparability to proposed project: (10 high to 1 low):
     Current Occupancy %:                                     (Confirmed or Estimated):

Development Name:
Address:


                                                                                Utilities Included,
                Unit Mix/Rent:          # of Units            Rent/Mo.               Yes or No
                    0-BR:
                    1-BR:
                    2-BR:
                    3-BR:
                    4-BR:

     Distance to proposed site:
     Comparability to proposed project: (10 high to 1 low):
     Current Occupancy %:                                     (Confirmed or Estimated):

Development Name:
Address:


                                                                                Utilities Included,
                Unit Mix/Rent:          # of Units            Rent/Mo.               Yes or No
                    0-BR:
                    1-BR:
                    2-BR:
                    3-BR:
                    4-BR:

     Distance to proposed site:
     Comparability to proposed project: (10 high to 1 low):
     Current Occupancy %:                                     (Confirmed or Estimated):




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                                                                                                                                                                                                                           Version 1: 2008
                                                                                                      Exhibit 4.1 - SOURCES OF FUNDS                                                                                      Submission Date:
                                                                                                                                                                                                                           January 1, 2011


                        DEVELOPMENT NAME                                             0                                           APPLICANT                               0

                                                            Construction           Permanent           Grant
EQUITY CAPITAL, GRANTS, Etc.                                  Sources               Sources          [Y] or [N]
                           DECD / HUD HOME Funds
           DECD Affordable Housing Program - FLEX
                            DECD Housing Trust Fund
              DECD / HUD CDBG Small Cities Funds
                               DECD Other [ Specify ]
                         Other Public Funds [ Specify ]
                         Federal LIHTC Net Proceeds                                      0              N/A
             Federal Historic Tax Credit Net Proceeds                                                   N/A
                       CT HTCC Tax Credit Proceeds                                                      N/A
                  Developer / Investor Cash Equity (b)                                                  N/A
                          Deferred Developer Fee [c]                                                    N/A
                      Homeownership Sales Proceeds                                                      N/A
                                      Other [ Specify ]
                                      Other [ Specify ]
                                      Other [ Specify ]
                                            Sub-Total             $0                     $0

                                                            Construction           Permanent           Perm.           Perm.          Const.            Fully       Deferred       Scheduled
                                                               Sources              Sources            Loan           Interest        Interest       Amortizing     PMT Loan          Debt              Financing Notes
FINANCING [Sources w/ Notes and Mortgages ]                                                         Term [Yrs.]        Rate            Rate           [Y] or [N]     [Y] or [N]      Service

    CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ]                                                                                                                     N/A              $0
              CHFA 1st Mortg. Loan [ Taxable Bonds ]                                                                                                                   N/A              $0
        CHFA 1st Mortg. Loan [ Non-Bond Proceeds ]                                                                                                                     N/A              $0
                             CHFA Next Steps Funds                                                                                                                                      $0
                           DECD / HUD HOME Funds                                                                                                                                        $0
           DECD Affordable Housing Program - FLEX                                                                                                                                       $0
                            DECD Housing Trust Fund                                                                                                                                     $0
              DECD / HUD CDBG Small Cities Funds                                                                                                                                        $0
                               DECD Other [ Specify ]                                                                                                                                   $0
                                      Other [ Specify ]                                                                                                                                 $0
                                      Other [ Specify ]                                                                                                                                 $0
                                      Other [ Specify ]                                                                                                                                 $0
                                      Other [ Specify ]                                                                                                                                 $0
                                      Other [ Specify ]                                                                                                                                 $0
                                            Sub-Total             $0                     $0                                                      Total Scheduled Debt Sevice            $0

                                      TOTAL Sources               $0                     $0
                          Total Development Budget                $0                     $0
                                  Sources LESS Uses               $0                     $0

(a) GRANTS: 3rd party sources for which no repayment is expected or required from other sources. Soft Debt: 3rd party sources secured by a mortgage and which may require partial or full repayment
    (with or without interest) are considered financing and should be scheduled under the FINANCING section above.
(b) Intra-Entity ( LP, LLC, etc. ) loans to be repaid from approved Owner's Distributions are considered Developer / Investor Cash Equity.
(c) Deferred/Pledged Developer Fees ("DDF") are considered cash equity contributions. For transactions utilizing federal Low-Income Housing Tax Credits,
    the amount of the DDF will be limited to a maximum of that which could be fully amortized from permitted Owner's Distributions at the Long-Term Applicable Federal Rate within the first ten (10)
    years of operations. The Authority, at its sole discretion, may approve a DDF for less than the permitted maximum.
(d) For construction / interim sources not fully converting to permanent sources, provide information on proposed permanent "paydown" source/s including estimated paydown amount/s
    and specific paydown terms and conditions as may be applicable.



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                                                                                                                                                   Version 1: 2008

                                                            Exhibit 4.6 - DEVELOPMENT BUDGET                                                      Submission Date:
                                                                                                                                                   January 1, 2011


 DEVELOPMENT NAME                                   0                         APPLICANT                                0

                                                                                                TAX CREDIT ELIGIBLE BASIS                  FINANCE PLAN
                                                                       %        BUDGET        70% NPV - 9% or 30% NPV - 4%
                                                                                               30% NPV - 4%    Exist. Building     DECD HOME        Other DECD
                                                                                               (New / Rehab.) Acquisition Credit
SITE & IMPROVEMENTS (Div. 1-16) Hard Costs                                        0                  0               N/A
GENERAL REQUIREMENTS (Max. 4% Site + Improvements)                  #DIV/0!       0                  0               N/A
OVERHEAD and PROFIT ( Max. 12% Site + Improverments)                #DIV/0!       0                  0               N/A
BOND PREMIUM / L.O.C. COST                                                        0                  0               N/A
BUILDING PERMITS and OTHER DEVELOPMENT FEES                                       0                  0               N/A
Other                                                                                                0               N/A
CONSTRUCTION (Form 2328) Sub-Total                                                0                  0               N/A               0                    0
Other                                                                                                0               N/A
Other                                                                                                0               N/A
Other                                                                                                0               N/A
CONSTRUCTION CONTINGENCY (% Const. >)                               #DIV/0!                          0               N/A
CONSTRUCTION                                                                      0                  0               N/A               0                    0
ARCHITECT - Design                                                                                   0               N/A
ARCHITECT - Contract Admin (Min. 35%) (% Contract > )               #DIV/0!                          0               N/A
ENGINEERING (Civil-Site / Stuctural / Etc.)                                                          0               N/A
SURVEYS                                                                                              0               N/A
Other                                                                                                0               N/A
Other                                                                                                0               N/A
Other                                                                                                0               N/A
Other                                                                                                0               N/A
ARCHITECTURAL and ENGINEERING                                                     0                  0               N/A               0                    0
INTEREST (CHFA) - Const. + 2 Mos.Lease Up                                                            0               N/A
CHFA PERM LOAN ORIG. / COMMIT. FEE                                  #DIV/0!                         N/A              N/A
INTEREST - Bridge Loan                                                                               0               N/A
FEES - Bridge Loan                                                                                   0               N/A
R. E. TAXES / PILOTS - Const. Period                                                                 0               N/A
INSURANCE - Const. Period ( Builder's Risk / Liability / Hazard )                                    0               N/A
UTILITIES - Const. Period ( If Owner Paid )                                                          0               N/A
Negative Arbitrage on Bonds (If Applic.)                                                            N/A              N/A
Credit Enhancement Premium (HUD or Private Perm. Mortg. Insur.)                                     N/A              N/A
Other                                                                                                0               N/A
Other                                                                                                0               N/A
CHFA CONSTRUCTION OBSERVATION                                                                        0               N/A
FINANCE and INTERIM COSTS                                                         0                  0               N/A               0                    0
Legal Counsel - Real Estate                                                                          0               N/A
Title Insur. Premiums & Recording Costs                                                              0               N/A
Appraisals/Market Study (CHFA /LIHTC/DECD Required)                                                  0               N/A
Lease Up & Marketing ($'s / Resid. Unit )                                                           N/A              N/A
Cost Certifications(CHFA/LIHTC/DECD Required)                                                       N/A              N/A
ENVIRONMENTAL REPORTS and TESTING                                                                    0               N/A
Other                                                                                                0               N/A
Other                                                                                                0               N/A
Other                                                                                                0               N/A
SOFT COST CONTINGENCY (5% Max.) (A&E+FIN+SOFT %)                     0.0%                            0               N/A
SOFT COSTS - Fees & Expenses                                                      0                  0               N/A               0                    0
TOTAL DEVELOPMENT COSTS (TDC)                                                     0                  0              N/A                0                    0
DEVELOPER ALLOWANCE / FEE (Max.15% TDC)                              0.0%                            0               N/A
PRE-DEVEL. FINANCING (Interest) COSTS [ Lender-Approved ]                                           N/A              N/A
  Land Cost                                                                                         N/A              N/A
  Existing Building/s                                                                               N/A               0
SITE ACQUISITION (Appraised "As Is" Value)                                        0                  0               N/A               0                    0
   Operating / Debt Serv./ Coverage                                               0                 N/A              N/A
   Capital / Replacement                                                                            N/A              N/A
   Other                                                                                            N/A              N/A
CAPITALIZED RESERVES                                                              0                  0               N/A               0                    0
RECOGNIZED LENDING COSTS                                                          0                  0                0                0                    0
Entity Organizational and Legal                                                                     N/A              N/A
Syndicator Fees / Commissions                                                                       N/A              N/A
Equity Bridge Loan Interest and Fees                                                                N/A              N/A
Tax Opinion and Entity Accounting                                                                   N/A              N/A
CHFA Tax Credit Fee (8% Ann. Credit)                                #DIV/0!                         N/A              N/A
CHFA LIHTC Applic. Fee                                                                              N/A              N/A
Other                                                                                               N/A              N/A
ENTITY and SYNDICATION COSTS / OTHER                                              0                 $0               N/A               0                    0
TOTAL USES                                                                        0                 $0               $0                0                    0

                                 Developer                                                                       CHFA / DECD


         Signature                                                  Date          Signature                                                      Date


          Name                                                      Title             Name                                                       Title


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                                                                                                                                                          Version 1: 2008

                                                                 Exhibit 4.8 - LIHTC CALCULATION                                                         Submission Date:
                                                                                                                                                          January 1, 2011


                        DEVELOPMENT NAME                                    0                            APPLICANT                              0

                                                                         NON-LIHTC SOURCES

                              Debt Sources                                                                               Equity Sources
   CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ]            0                        DECD / HUD HOME Funds                                                    0
   CHFA 1st Mortg. Loan [ Taxable Bonds ]                    0                        DECD Affordable Housing Program - FLEX                                   0
   CHFA 1st Mortg. Loan [ Non-Bond Proceeds ]                0                        DECD Housing Trust Fund                                                  0
   CHFA Next Steps Funds                                     0                        DECD / HUD CDBG Small Cities Funds                                       0
   DECD / HUD HOME Funds                                     0                        DECD Other [ Specify ]                                                   0
   DECD Affordable Housing Program - FLEX                    0                        Other Public Funds [ Specify ]                                           0
   DECD Housing Trust Fund                                   0                        Federal Historic Tax Credit Net Proceeds                                 0
   DECD / HUD CDBG Small Cities Funds                        0                        CT HTCC Tax Credit Proceeds                                              0
   DECD Other [ Specify ]                                    0                        Developer / Investor Cash Equity (b)                                     0
   Other [ Specify ]                                         0                        Deferred Developer Fee [c]                                               0
   Other [ Specify ]                                         0                        Homeownership Sales Proceeds                                             0
   Other [ Specify ]                                         0                        Other [ Specify ]                                                        0
   Other [ Specify ]                                         0                        Other [ Specify ]                                                        0
   Other [ Specify ]                                         0                        Other [ Specify ]                                                        0
   Sub-Total                                                 0                        Sub-Total                                                                0

   Total Non-LIHTC Sources                                   0

                                                                         CREDIT CALCULATION

                                                                                                                           New / Rehab    Acquisition
   (Use Table 4: 70% PV = 9% rate, 30% NPV = 4% rate)                           Credit NPV of AFR % = LIHTC Rates            7.84%          3.46%           TOTALS

                                                                                     TAX CREDIT ELIGIBLE BASIS                 $0              $0              $0
                                                                                     LESS: BASIS ADJUSTMENTS                   $0
                                                                            Federal Grants for Qualifying Devel. Costs                        N/A              $0
                                                                               Non-Qualified Non-Recourse Financing                           N/A              $0
                                                                                  Non-Qualifying units of higher quality                      N/A              $0
                                                                          Non-Qual. excess portion of higher qual. units                      N/A              $0
                                                                              Fed. HistoricTax Credits (Resid. Portion)                       N/A              $0
                                                                                                                 Other                        N/A              $0
                                                                                       PLUS: QCT / DDA INCREMENT               n/a            N/A              n/a
                                                                                          ADJUSTED ELIGIBLE BASIS              $0              $0              $0
                                                                                          X the Applicable Fraction (%)      #DIV/0!         #DIV/0!
                                                                                             TOTAL QUALIFIED BASIS           #DIV/0!         #DIV/0!        #DIV/0!
                                                                            ELIGIBLE Credit from QUALIFIED BASIS             #DIV/0!         #DIV/0!        #DIV/0!

                                                                                                                          LIHTC EQUITY GAP >                  $0
                                                                                                         ALLOWABLE Credit from GAP ANALYSIS >               #DIV/0!

                                                                                                                MAX. ANNUAL CREDIT AMOUNT (a)               #DIV/0!
                                                                                                                             Annual Credits Per Unit        #DIV/0!
                                                                                                                        Equity Raise ($ Yield / $1.00)
                                                                                                                     ESTIM. LIHTC NET PROCEEDS              #DIV/0!

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                                                                                                                                                               Version 1: 2008

                                                Exhibit 5.1 - RENTAL INCOME CALCULATION WORKSHEET                                                             Submission Date:
                                                                                                                                                               January 1, 2011


        DEVELOPMENT NAME                                           0                                 APPLICANT                                 0

                       Current Year                    2008                                          Proforma Stabalized Year (PSY)                       0

                        AMENITIES                                                                                    FUNDING SOURCES

Identify the amenities that are included:                                       Identify AMI percentages and corresponding funding sources (DECD only) :
                           Yes                 No                                Funding (e.g. Home, LIHTC, Flex       Targeted AMI                           Percentage of
Range
                                                                                                                                        Number of Units
                           Yes                 No                                            Funds)                     Percentage                                Units
Refrigerator
                           Yes                 No
Dishwasher                                                                                                                                                       #DIV/0!
                           Yes                 No
Garbage Disposal                                                                                                                                                 #DIV/0!
                           Yes                 No
Air Conditioning                                                                                                                                                 #DIV/0!
                           Yes                 No
Garages                                                                                                                                                          #DIV/0!
                           Yes                 No
Porch/Deck                                                                                                                                                       #DIV/0!
                           Yes                 No
Basement                                                                                                                                                         #DIV/0!
Other-Identify:                                                                                                                                                  #DIV/0!

                                                                            UTILITY ALLOWANCE

                                                 "X" all that Apply                          Enter Current Year Tenant Paid Utility Allowance for all the Apply
                     Indicate Energy
                       Source (e.g.:
                                          Owner Paid          Tenant Paid             0BR                1BR               2BR                3BR                  4BR
                       gas, electric)

  Heating
  Hot Water
  Cooking
  Lighting
  Air Cond.
  Other
                                                               Total                 $0.00               $0.00             $0.00             $0.00                $0.00
                   Utility Allowance Trended to Proforma Stabilized Year:            $0.00               $0.00             $0.00             $0.00                $0.00

                             Source and Effective Date of Utility Allowances:

                                                                                RENTAL INCOME

                                                                                                                                              0                    0
      AMI %            # Bedrooms           # Units           Unit Size           Total Square       Number of       Persons per Unit    Applicant's      Utility Allowance
                                                            (Square Feet)             Feet          Baths per Unit                        Proposed
                                                                                                                                        Monthly Gross
                                                                                                                                            Rent
                                                                                                                       (DECD Only)
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00
                                                                                       0                                                                          $0.00




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                                                                                                                                           Version 1: 2008

                                           Exhibit 5.1 - RENTAL INCOME CALCULATION WORKSHEET                                              Submission Date:
                                                                                                                                           January 1, 2011


                                                             0                 0               0               0                                 0
    AMI %         # Bedrooms            # Units         Applicant's        Estimated     Annual Gross    Annual Gross    Vacancy Rate    Effective Gross
                                                       Proposed Net      Monthly Rental Rental Subsidy   Rent Revenue                        Income
                                                           Rent         Subsidy per Unit   Revenue



     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
     0%                 0                  0                 $0                                 $0           $0               n/a               $0
                            Total          0                                                    $0           $0               $0                $0

Number of LITHC Qualified Units            0           Number of Other Affordable Units         0          Number of Market Rate Units          0

                                                                  CHFA & DECD RENT GUIDELINES

                                           2008             2008              2008             0              0                 0        Does Proposed
    AMI %         # Bedrooms            Maximum          Allowable          Maximum         Maximum         Annual         Allowable     Gross Rent meet
                                    Allowable Family   Housing Cost     Allowable Gross Allowable Gross Proposed Gross   Housing Cost       CHFA &/or
                                         Income        Adjusted for           Rent            Rent           Rent        Adjusted for         DECD
                                                        Family Size                                                       Family Size    Requirements?
                                     (DECD Only)       (DECD Only)        (CHFA Only)     (CHFA Only)                    (DECD Only)
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A
     0%                 0                                                                     $0              $0               $0              N/A




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                                                                                                                                                                       Version 1: 2008

                                                              Exhibit 5.2.a - DETAILED INCOME & EXPENSES                                                               Submission Date:
                                                                                                                                                                        January 1, 2011


                                      DEVELOPMENT NAME                                       0                                 APPLICANT                      0


                                                                                     Non-                                     Asset Manager Asset Manager   Adjusted        Adjusted %
      LINE ITEM DESCRIPTION                                      Residential       Residential       $$ Per Unit   % of GPI    Adjustment   Adj. ProForma    $$/Unit          of GPI
1     Rent Revenue- Gross Potential                                            0                               0       0.0%                            0               0              0.0%
2     Tenant Assistance Payments (HAP Receipts)                                0                               0       0.0%                            0               0              0.0%
3     Rent Revenue- Stores & Commercial                                                                        0       0.0%                            0               0              0.0%
4     Rent Revenue- Garage & Parking                                                                           0       0.0%                            0               0              0.0%
5     Flexible Subsidy Revenue                                                                                 0       0.0%                            0               0              0.0%
6     Miscellaneous Rent Revenue                                                                               0       0.0%                            0               0              0.0%
7     Excess Rent                                                                                              0       0.0%                            0               0              0.0%
8     Rent Revenue- Insurance                                                                                  0       0.0%                            0               0              0.0%
9     Special Claims Revenue                                                                                   0       0.0%                            0               0              0.0%
10    Retained Excess Income                                                                                   0       0.0%                            0               0              0.0%
11    Total Rent Revenue (GPI @ 100% Occupancy)                                0                 0             0       0.0%                            0               0              0.0%
12    Apartments- Vacancy                                                      0                               0       0.0%                            0               0              0.0%
13    Stores & Commercial- Vacancy                                                                             0       0.0%                            0               0              0.0%
14    Rental Concessions                                                                                       0       0.0%                            0               0              0.0%
15    Garage & Parking- Vacancy                                                                                0       0.0%                            0               0              0.0%
16    Miscellaneous (other vacancy)                                                                            0       0.0%                            0               0              0.0%
17    Total Vacancies                                                          0                 0             0       0.0%                            0               0              0.0%
18    Net Rental Revenue (Rent Revenue Less Vacancy)                           0                 0             0       0.0%                            0               0              0.0%
19    Elderly & Congregate Serv. Income (attach schedule)                                                      0       0.0%                            0               0              0.0%
20    Financial Revenue- Project Operations                                                                    0       0.0%                            0               0              0.0%
21    Revenue from Investments- Residual Receipts                                                              0       0.0%                            0               0              0.0%
22    Revenue from Investments- Replacement Reserves                                                           0       0.0%                            0               0              0.0%
23    Revenue from Investments- Miscellaneous                                                                  0       0.0%                            0               0              0.0%
24    Total Financial Revenue                                                  0                 0             0       0.0%                            0               0              0.0%
25    Laundry & Vending Revenue                                                                                0       0.0%                            0               0              0.0%
26    NSF & Late Fees                                                                                          0       0.0%                            0               0              0.0%
27    Damages & Cleaning Fees                                                                                  0       0.0%                            0               0              0.0%
28    Forfeited Tenant Security Deposits                                                                       0       0.0%                            0               0              0.0%
29    Tenant Charges (Total of Line 26-28)                                     0                 0             0       0.0%                            0               0              0.0%
30    Interest Reduction Payments                                                                              0       0.0%                            0               0              0.0%
31    Miscellaneous Revenue                                                                                    0       0.0%                            0               0              0.0%
32    Total Other Revenue                                                      0                 0             0       0.0%                            0               0              0.0%
33    TOTAL REVENUE                                                            0                 0             0       0.0%                            0               0              0.0%
34    Conventions & Meetings                                                                                   0       0.0%                            0               0              0.0%
35    Management Consultants                                                                                   0       0.0%                            0               0              0.0%
36    Advertising & Marketing                                                                                  0       0.0%                            0               0              0.0%
37    Apartment Resale Expenses (Co-ops)                                                                       0       0.0%                            0               0              0.0%
38    Other Renting Expenses                                                                                   0       0.0%                            0               0              0.0%
39    Office Salaries                                                                                          0       0.0%                            0               0              0.0%
40    Office Supplies                                                                                          0       0.0%                            0               0              0.0%
41    Telephone & Answering Service                                                                            0       0.0%                            0               0              0.0%
42    Office Expenses (Total of Line 40 & 41)                                  0                 0             0       0.0%                            0               0              0.0%
43    Office or Model Apartment Rent                                                                           0       0.0%                            0               0              0.0%
44    Management Fee                                                                                           0       0.0%                            0               0              0.0%
45    Manager or Superintendent Salaries                                                                       0       0.0%                            0               0              0.0%
46    Administrative Rent Free Unit                                                                            0       0.0%                            0               0              0.0%
47    Legal Expense- Project                                                                                   0       0.0%                            0               0              0.0%
48    Audit Expense                                                                                            0       0.0%                            0               0              0.0%
49    Bookkeeping Fees/Accounting Services                                                                     0       0.0%                            0               0              0.0%
50    Bad Debts                                                                                                0       0.0%                            0               0              0.0%
51    Miscellaneous Administrative Expenses                                                                    0       0.0%                            0               0              0.0%
52    Total Administrative Expenses                                            0                 0             0       0.0%                            0               0              0.0%
53    Fuel Oil/ Coal                                                                                           0       0.0%                            0               0              0.0%
54    Electricity                                                                                              0       0.0%                            0               0              0.0%
55    Water                                                                                                    0       0.0%                            0               0              0.0%
56    Gas                                                                                                      0       0.0%                            0               0              0.0%
57    Sewer                                                                                                    0       0.0%                            0               0              0.0%
58    Total Utilities Expense                                                  0                 0             0       0.0%                            0               0              0.0%




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                                                                                                                                                                             Version 1: 2008

                                                                   Exhibit 5.2.a - DETAILED INCOME & EXPENSES                                                                Submission Date:
                                                                                                                                                                              January 1, 2011


                                         DEVELOPMENT NAME                                         0                                  APPLICANT                      0


                                                                                          Non-                                      Asset Manager Asset Manager   Adjusted        Adjusted %
        LINE ITEM DESCRIPTION                                         Residential       Residential       $$ Per Unit   % of GPI     Adjustment   Adj. ProForma    $$/Unit          of GPI
  59    Janitor & Cleaning Payroll                                                                                  0        0.0%                            0               0              0.0%
  60    Grounds Payroll                                                                                             0        0.0%                            0               0              0.0%
  61    Repairs Payroll                                                                                             0        0.0%                            0               0              0.0%
  62    Payroll (Total of Line 59-61)                                               0                 0             0        0.0%                            0               0              0.0%
  63    Janitor and Cleaning Supplies                                                                               0        0.0%                            0               0              0.0%
  64    Exterminating Supplies                                                                                      0        0.0%                            0               0              0.0%
  65    Ground Supplies                                                                                             0        0.0%                            0               0              0.0%
  66    Repairs Material                                                                                            0        0.0%                            0               0              0.0%
  67    Decorating Supplies                                                                                         0        0.0%                            0               0              0.0%
  68    Supplies (Total of Line 63-67)                                              0                 0             0        0.0%                            0               0              0.0%
  69    Janitor and Cleaning Contracts                                                                              0        0.0%                            0               0              0.0%
  70    Exterminating Contracts                                                                                     0        0.0%                            0               0              0.0%
  71    Grounds Contracts                                                                                           0        0.0%                            0               0              0.0%
  72    Repairs Contracts                                                                                           0        0.0%                            0               0              0.0%
  73    Elevator Maintenance Contract                                                                               0        0.0%                            0               0              0.0%
  74    Swimming Pool Maintenance Contract                                                                          0        0.0%                            0               0              0.0%
  75    Decorating (Painting) Contract/Payroll                                                                      0        0.0%                            0               0              0.0%
  76    Contracts (Total of Line 69-75)                                             0                 0             0        0.0%                            0               0              0.0%
  77    Operating & Maintenance Rent Free Unit                                                                      0        0.0%                            0               0              0.0%
  78    Garbage & Trash Removal                                                                                     0        0.0%                            0               0              0.0%
  79    Security Payroll/ Contracts                                                                                 0        0.0%                            0               0              0.0%
  80    Security Rent Free Unit                                                                                     0        0.0%                            0               0              0.0%
  81    Heating/Cooling Repairs & Maintenance                                                                       0        0.0%                            0               0              0.0%
  82    Snow Removal                                                                                                0        0.0%                            0               0              0.0%
  83    Vehicle & Maint. Equip. Operation & Repair                                                                  0        0.0%                            0               0              0.0%
  84    Miscellaneous Operating & Maintenance                                                                       0        0.0%                            0               0              0.0%
  85    Total Operating & Maintenance Expenses                                      0                 0             0        0.0%                            0               0              0.0%
  86    Real Estate Tax                                                                                             0        0.0%                            0               0              0.0%
  87    Payroll Taxes (project share)                                                                               0        0.0%                            0               0              0.0%
  88    Property & Liability Insurance                                                                              0        0.0%                            0               0              0.0%
  89    Fidelity Bond Insurance                                                                                     0        0.0%                            0               0              0.0%
  90    Workmen's Compensation                                                                                      0        0.0%                            0               0              0.0%
  91    Health Insurance & Other Benefits                                                                           0        0.0%                            0               0              0.0%
  92    Miscellaneous Taxes, Licenses, Permits                                                                      0        0.0%                            0               0              0.0%
  93    Other Insurance                                                                                             0        0.0%                            0               0              0.0%
  94    Misc. Taxes, Lic., Permits & Ins. (Lines 92 & 93)                           0                 0             0        0.0%                            0               0              0.0%
  95    Total Taxes & Insurance                                                     0                 0             0        0.0%                            0               0              0.0%
  96    Elderly & Congregate Serv. Expense (attach schedule)                                                        0        0.0%                            0               0              0.0%
  97    TOTAL OPERATING EXPENSES                                                    0                 0             0        0.0%                            0               0              0.0%
  98    OPERATING INCOME (LOSS)                                                     0                 0             0        0.0%                            0               0              0.0%
  99    Mortgage Principal & Interest- CHFA Debt                                                                    0        0.0%                            0               0              0.0%
 100    Mortgage Principal & Interest- Other Debt                                                                   0        0.0%                            0               0              0.0%
 101    Mortgage Insurance Premium/ Service Charges                                                                 0        0.0%                            0               0              0.0%
 102    Miscellaneous Financial Expenses                                                                            0        0.0%                            0               0              0.0%
 103    Total Financial Expenses                                                    0                 0             0        0.0%                            0               0              0.0%
 104    Replacement Reserve Deposits                                                                                0        0.0%                            0               0              0.0%
 105    Operating (Other) Reserve Deposits                                                                          0        0.0%                            0               0              0.0%
 106    NET PROJECTED CASH FLOW                                                     0                 0             0        0.0%                            0               0              0.0%
 107    Replacement Reserve Releases                                                                                0        0.0%                            0               0              0.0%
 108    Operating Reserve Releases                                                                                  0        0.0%                            0               0              0.0%
 109    Capital Improvements- Building (attach schedule)                                                            0        0.0%                            0               0              0.0%
 110    Capital Improvements- Equipment (attach schedule)                                                           0        0.0%                            0               0              0.0%
 111    Net Operating Income (NOI)                                                  0                               0        0.0%                            0               0              0.0%
 112    Debt Service Coverage Ratio (DSC)                                        n/a
 113    Per Unit Expenses (Less: RE Taxes)                                          0

The undersigned presents the enclosed estimates as reasonable and accurate projections of operating income and expenses for stated stabilized fiscal year.
Accepted By:                                                                                                                    Management Company


Signature                                                                      Date                                     Signature                                                           Date


Name                                                                            Title                                   Name                                                                Title




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                                                                                                                                            Version 1: 2008

                                                               Exhibit 5.2.c - EXPENSES SUMMARY                                          Submission Date:
                                                                                                                                          January 1, 2011


            DEVELOPMENT NAME                                  0                    APPLICANT                             0

                                                                                                                                    DETAILED INCOME
                                                                                                      NON-
                                                                                                                                    & EXPENSES LINE
            EXPENSES                                                 RESIDENTIAL    $ / PUPA       RESIDENTIAL       COMBINED
                                                                                                                                       REFERENCE
            Administrative                                                     -               -                 -              -
            Conventions and Meetings                                           -               -                 -              -   34
            Management Consultants                                             -               -                 -              -   35
            Advertising and Marketing                                          -               -                 -              -   36
            Office Salaries (Project Share)                                    -               -                 -              -   39
            Office Rent and Expenses (Incld. Phone)                            -               -                 -              -   37,38,40,41,43
            Management Fee (Max. 5% EGI)                   #DIV/0!             -               -                 -              -   44
            Manager or Leasing Agent                                           -               -                 -              -   45
            Administrative Rent-Free / Reduced Unit                            -               -                 -              -   46
            Audit and Legal Expenses (Project Share)                           -               -                 -              -   47,48,49
            Administrative / Misc.                                             -               -                 -              -   50,51
            Maintenance                                                        -               -                 -              -
            Decorating and Painting                                            -               -                 -              -   67,75
            Supplies (Grounds Maint ./ Janitorial / Etc. )                     -               -                 -              -   65,66
            Repairs and Maint. (HVAC / Electrical / Plumbing)                  -               -                 -              -   71,72,74,77,81
            Elevator Maint. / Service Contract                                 -               -                 -              -   73
            Exterminating                                                      -               -                 -              -   70,64
            Vehicle Equipment Operation & Repair                               -               -                 -              -   83
            Lobby and Common Areas                                             -               -                 -              -   63,69
            Misc. Operating and Maintenance                                    -               -                 -              -   84
            Operating and Other                                                -               -                 -              -
            Fuel (Gas / Oil )                                                  -               -                 -              -   53,56
            Electricity                                                        -               -                 -              -   54
            Water and Sewer                                                    -               -                 -              -   55,57
            Garbage and Trash Removal                                          -               -                 -              -   78
            Snow Removal                                                       -               -                 -              -   82
            Property and Liability Insurance                                   -               -                 -              -   88
            Fidelity Bond Insurance                                            -               -                 -              -   89
            Worker's Compensation                                              -               -                 -              -   90
            Payroll (Maint., Security, Janitorial, Etc.)                       -               -                 -              -   59,60,61
            Payroll Taxes                                                      -               -                 -              -   87
            Health Insurance and Other Benefits                                -               -                 -              -   91
            Misc.Taxes, Licenses, Permits and Insurance                        -               -                 -              -   92
            Security Contract/s                                                -               -                 -              -   79,80
            Total ADMIN, MAINT. And OPERATING                                  -               -                 -              -
            Other                                                              -               -                 -              -   93,96
            Capital (Replacement) Reserve                                      -               -                 -              -   104
                                     Sub-Total (Incld. RESERVES)               -               -                 -              -
            Real Estate Taxes                                                  -               -                 -              -   86
                                      TOTAL ANNUAL EXPENSES                    -               -                 -              -

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                                                                                                                                                                          Version 1: 2008

                                                                     Exhibit 5.3 - CASH FLOW                                                                              Submission Date:
                                                                                                                                                                           January 1, 2011


        DEVELOPMENT NAME                                 0                                               APPLICANT                      0

INCOME                                                                                                       1                2                  3              4                  5
[ Net of Vacancy Losses ]                                        Vac. %             Growth %                 0                1                  2              3                  4

                    RESIDENTIAL - Qualified / Afford.            #DIV/0!           2.0%                              -              -                  -              -                      -
                        RESIDENTIAL - Market Rate                10.0%             2.0%                              -              -                  -              -                      -
                                               Other             20.0%             2.0%                              -              -                  -              -                      -
                                                                EFFECTIVE GROSS INCOME (EGI)         $               -   $          -       $          -   $          -    $                 -

EXPENSES                                                        Administrative        3.0%                           -              -                  -              -                      -
                                                                  Maintenance         3.0%                           -              -                  -              -                      -
                                                           Operating and Other        3.0%                           -              -                  -              -                      -
                                                                         Other        3.0%                           -              -                  -              -                      -
                                                Capital (Replacement) Reserve         4.0%                           -              -                  -              -                      -
                                                  Real Estate Taxes / PILOT's         3.0%                           -              -                  -              -                      -
                                                                  Sub Total: ANNUAL EXPENSES         $               -   $          -       $          -   $          -    $                 -

                                          NPV                     Rate                         NOI   $               -   $          -       $          -   $          -    $                 -

                                          $0                     5.00%              AFDS @ 1.15             $0               $0                 $0             $0                 $0

SCHEDULED ANNUAL DEBT SERVICE (ADS)

CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ]                     $0               Pay Rate ADS            0                0                  0              0                  0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a                n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

CHFA 1st Mortg. Loan [ Taxable Bonds ]                             $0               Pay Rate ADS            0                0                  0              0                  0
                                     Term (Yrs.) >                  0                        DSC            n/a              n/a                n/a            n/a                n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

CHFA 1st Mortg. Loan [ Non-Bond Proceeds ]                         $0               Pay Rate ADS            0                0                  0              0                  0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a                n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

CHFA Next Steps Funds                                              $0               Pay Rate ADS            0                0                  0              0                  0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a                n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

DECD / HUD HOME Funds                                              $0               Pay Rate ADS            0                0                  0              0                  0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a                n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

DECD Affordable Housing Program - FLEX                             $0               Pay Rate ADS            0                0                  0              0                  0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a                n/a
                                 Contract Rate >                 0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

DECD Housing Trust Fund                                            $0               Pay Rate ADS            0                0                  0              0                  0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a                n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

DECD / HUD CDBG Small Cities Funds                                 $0               Pay Rate ADS            0                0                  0              0                  0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a                n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

DECD Other [ Specify ]                                             $0               Pay Rate ADS            0                0                  0              0                  0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a                n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                  0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a                n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                  0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a                n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                  0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a                n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                  0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a                n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                  0

                                                                                     ADS STOT. =            0                 0                  0              0                  0

                                                    CASH FLOW AFTER DEBT SERVICE (CFADS)                    0                 0                  0              0                  0
                                                                                 PROJECT DSC =             0.00              0.00               0.00           0.00              0.00
                                                              EFFECTIVE DSC (w/Op-DSC Reserve)              n/a              n/a                n/a            n/a                n/a
OPERATING / DEBT SERVICE / COVERAGE RESERVE

Required Financing Reserve               NPV's                               Project Actual DSC >          0.00              0.00               0.00           0.00              0.00
                     For 1.0 DSC           0                                   BALANCE (B.O.Y.)             0                0                  0              0                  0
               For 1.0 - 1.15 DSC          0                           OUTFLOWS (for 1.00 DSC)              0                0                  0              0                  0
               TOTAL RESERVE              $0                                          5.00%                 0                0                  0              0                  0
                                                                               Paid INTO Reserve            0                0                  0              0                  0
Required Next Steps Reserve              NPV's                                 BALANCE (E.O.Y.)             0                0                  0              0                  0
                    For 1.0 DSC            0                 Economic Coverage (1.00 to 1.15 DSC)           0                0                  0              0                  0
              For 1.0 - 1.05 DSC           0                 Economic Coverage (1.00 to 1.05 DSC)           0                0                  0              0                  0
               TOTAL RESERVE              $0                                     EFFECTIVE NOI              0                0                  0              0                  0
                                                                                EFFECTIVE DSC               n/a              n/a                n/a            n/a                n/a




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                                                                                                                                                                           Version 1: 2008
                                                                     Exhibit 5.3 - CASH FLOW                                                                              Submission Date:
                                                                                                                                                                           January 1, 2011

        DEVELOPMENT NAME                                 0                                               APPLICANT                      0

INCOME                                                                                                       6                7                  8              9               10
[ Net of Vacancy Losses ]                                        Vac. %             Growth %                 5                6                  7              8                9

                    RESIDENTIAL - Qualified / Afford.            #DIV/0!           2.0%                              -              -                  -              -                    -
                        RESIDENTIAL - Market Rate                10.0%             2.0%                              -              -                  -              -                    -
                                               Other             20.0%             2.0%                              -              -                  -              -                    -
                                                                EFFECTIVE GROSS INCOME (EGI)         $               -   $          -       $          -   $          -   $                -

EXPENSES                                                        Administrative        3.0%                           -              -                  -              -                    -
                                                                  Maintenance         3.0%                           -              -                  -              -                    -
                                                           Operating and Other        3.0%                           -              -                  -              -                    -
                                                                         Other        3.0%                           -              -                  -              -                    -
                                                Capital (Replacement) Reserve         4.0%                           -              -                  -              -                    -
                                                  Real Estate Taxes / PILOT's         3.0%                           -              -                  -              -                    -
                                                                  Sub Total: ANNUAL EXPENSES         $               -   $          -       $          -   $          -   $                -

                                          NPV                     Rate                         NOI   $               -   $          -       $          -   $          -   $                -

                                          $0                     5.00%              AFDS @ 1.15             $0               $0                 $0             $0               $0

SCHEDULED ANNUAL DEBT SERVICE (ADS)

CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ]                     $0               Pay Rate ADS            0                0                  0              0                0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a              n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

CHFA 1st Mortg. Loan [ Taxable Bonds ]                             $0               Pay Rate ADS            0                0                  0              0                0
                                     Term (Yrs.) >                  0                        DSC            n/a              n/a                n/a            n/a              n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

CHFA 1st Mortg. Loan [ Non-Bond Proceeds ]                         $0               Pay Rate ADS            0                0                  0              0                0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a              n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

CHFA Next Steps Funds                                              $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

DECD / HUD HOME Funds                                              $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

DECD Affordable Housing Program - FLEX                             $0               Pay Rate ADS            0                0                  0              0                0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a              n/a
                                 Contract Rate >                 0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

DECD Housing Trust Fund                                            $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

DECD / HUD CDBG Small Cities Funds                                 $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

DECD Other [ Specify ]                                             $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

                                                                                     ADS STOT. =            0                 0                  0              0                0

                                                    CASH FLOW AFTER DEBT SERVICE (CFADS)                    0                 0                  0              0                0
                                                                                 PROJECT DSC =             0.00              0.00               0.00           0.00             0.00
                                                              EFFECTIVE DSC (w/Op-DSC Reserve)              n/a              n/a                n/a            n/a              n/a
OPERATING / DEBT SERVICE / COVERAGE RESERVE

Required Financing Reserve               NPV's                               Project Actual DSC >          0.00              0.00               0.00           0.00             0.00
                     For 1.0 DSC           0                                   BALANCE (B.O.Y.)             0                0                  0              0                0
               For 1.0 - 1.15 DSC          0                           OUTFLOWS (for 1.00 DSC)              0                0                  0              0                0
               TOTAL RESERVE              $0                                          5.00%                 0                0                  0              0                0
                                                                               Paid INTO Reserve            0                0                  0              0                0
Required Next Steps Reserve              NPV's                                 BALANCE (E.O.Y.)             0                0                  0              0                0
                    For 1.0 DSC            0                 Economic Coverage (1.00 to 1.15 DSC)           0                0                  0              0                0
              For 1.0 - 1.05 DSC           0                 Economic Coverage (1.00 to 1.05 DSC)           0                0                  0              0                0
               TOTAL RESERVE              $0                                     EFFECTIVE NOI              0                0                  0              0                0
                                                                                EFFECTIVE DSC               n/a              n/a                n/a            n/a              n/a




      C:\Docstoc\Working\pdf\be8e5adc-abf0-4e8c-aed5-ffbc295e0d7c.xls \ Cash Flow                                                                                                     46 of 48
                                                                                                                                                                          Version 1: 2008
                                                                     Exhibit 5.3 - CASH FLOW                                                                              Submission Date:
                                                                                                                                                                           January 1, 2011

        DEVELOPMENT NAME                                 0                                               APPLICANT                      0

INCOME                                                                                                      11               12                 13             14                15
[ Net of Vacancy Losses ]                                        Vac. %             Growth %                10               11                 12             13                14

                    RESIDENTIAL - Qualified / Afford.            #DIV/0!           2.0%                              -              -                  -              -                      -
                        RESIDENTIAL - Market Rate                10.0%             2.0%                              -              -                  -              -                      -
                                               Other             20.0%             2.0%                              -              -                  -              -                      -
                                                                EFFECTIVE GROSS INCOME (EGI)         $               -   $          -       $          -   $          -   $                  -

EXPENSES                                                        Administrative        3.0%                           -              -                  -              -                      -
                                                                  Maintenance         3.0%                           -              -                  -              -                      -
                                                           Operating and Other        3.0%                           -              -                  -              -                      -
                                                                         Other        3.0%                           -              -                  -              -                      -
                                                Capital (Replacement) Reserve         4.0%                           -              -                  -              -                      -
                                                  Real Estate Taxes / PILOT's         3.0%                           -              -                  -              -                      -
                                                                  Sub Total: ANNUAL EXPENSES         $               -   $          -       $          -   $          -   $                  -

                                          NPV                     Rate                         NOI   $               -   $          -       $          -   $          -   $                  -

                                          $0                     5.00%              AFDS @ 1.15             $0               $0                 $0             $0               $0

SCHEDULED ANNUAL DEBT SERVICE (ADS)

CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ]                     $0               Pay Rate ADS            0                0                  0              0                 0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a               n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

CHFA 1st Mortg. Loan [ Taxable Bonds ]                             $0               Pay Rate ADS            0                0                  0              0                 0
                                     Term (Yrs.) >                  0                        DSC            n/a              n/a                n/a            n/a               n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

CHFA 1st Mortg. Loan [ Non-Bond Proceeds ]                         $0               Pay Rate ADS            0                0                  0              0                 0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a               n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

CHFA Next Steps Funds                                              $0               Pay Rate ADS            0                0                  0              0                 0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a               n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

DECD / HUD HOME Funds                                              $0               Pay Rate ADS            0                0                  0              0                 0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a               n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

DECD Affordable Housing Program - FLEX                             $0               Pay Rate ADS            0                0                  0              0                 0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a               n/a
                                 Contract Rate >                 0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

DECD Housing Trust Fund                                            $0               Pay Rate ADS            0                0                  0              0                 0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a               n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

DECD / HUD CDBG Small Cities Funds                                 $0               Pay Rate ADS            0                0                  0              0                 0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a               n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

DECD Other [ Specify ]                                             $0               Pay Rate ADS            0                0                  0              0                 0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a               n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                 0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a               n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                 0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a               n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                 0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a               n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                 0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a               n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                 0

                                                                                     ADS STOT. =            0                 0                  0              0                0

                                                    CASH FLOW AFTER DEBT SERVICE (CFADS)                    0                 0                  0              0                0
                                                                                 PROJECT DSC =             0.00              0.00               0.00           0.00             0.00
                                                              EFFECTIVE DSC (w/Op-DSC Reserve)              n/a              n/a                n/a            n/a              n/a
OPERATING / DEBT SERVICE / COVERAGE RESERVE

Required Financing Reserve               NPV's                               Project Actual DSC >          0.00              0.00               0.00           0.00             0.00
                     For 1.0 DSC           0                                   BALANCE (B.O.Y.)             0                0                  0              0                0
               For 1.0 - 1.15 DSC          0                           OUTFLOWS (for 1.00 DSC)              0                0                  0              0                0
               TOTAL RESERVE              $0                                          5.00%                 0                0                  0              0                0
                                                                               Paid INTO Reserve            0                0                  0              0                0
Required Next Steps Reserve              NPV's                                 BALANCE (E.O.Y.)             0                0                  0              0                0
                    For 1.0 DSC            0                 Economic Coverage (1.00 to 1.15 DSC)           0                0                  0              0                0
              For 1.0 - 1.05 DSC           0                 Economic Coverage (1.00 to 1.05 DSC)           0                0                  0              0                0
               TOTAL RESERVE              $0                                     EFFECTIVE NOI              0                0                  0              0                0
                                                                                EFFECTIVE DSC               n/a              n/a                n/a            n/a              n/a




      C:\Docstoc\Working\pdf\be8e5adc-abf0-4e8c-aed5-ffbc295e0d7c.xls \ Cash Flow                                                                                                      47 of 48
                                                                                                                                                                           Version 1: 2008
                                                                     Exhibit 5.3 - CASH FLOW                                                                              Submission Date:
                                                                                                                                                                           January 1, 2011


        DEVELOPMENT NAME                                 0                                               APPLICANT                      0

INCOME                                                                                                      16               17                 18             19               20
[ Net of Vacancy Losses ]                                        Vac. %             Growth %                15               16                 17             18               19

                    RESIDENTIAL - Qualified / Afford.            #DIV/0!           2.0%                              -              -                  -              -                    -
                        RESIDENTIAL - Market Rate                10.0%             2.0%                              -              -                  -              -                    -
                                               Other             20.0%             2.0%                              -              -                  -              -                    -
                                                                EFFECTIVE GROSS INCOME (EGI)         $               -   $          -       $          -   $          -   $                -

EXPENSES                                                        Administrative        3.0%                           -              -                  -              -                    -
                                                                  Maintenance         3.0%                           -              -                  -              -                    -
                                                           Operating and Other        3.0%                           -              -                  -              -                    -
                                                                         Other        3.0%                           -              -                  -              -                    -
                                                Capital (Replacement) Reserve         4.0%                           -              -                  -              -                    -
                                                  Real Estate Taxes / PILOT's         3.0%                           -              -                  -              -                    -
                                                                  Sub Total: ANNUAL EXPENSES         $               -   $          -       $          -   $          -   $                -

                                          NPV                     Rate                         NOI   $               -   $          -       $          -   $          -   $                -

                                          $0                     5.00%              AFDS @ 1.15             $0               $0                 $0             $0               $0

SCHEDULED ANNUAL DEBT SERVICE (ADS)

CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ]                     $0               Pay Rate ADS            0                0                  0              0                0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a              n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

CHFA 1st Mortg. Loan [ Taxable Bonds ]                             $0               Pay Rate ADS            0                0                  0              0                0
                                     Term (Yrs.) >                  0                        DSC            n/a              n/a                n/a            n/a              n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

CHFA 1st Mortg. Loan [ Non-Bond Proceeds ]                         $0               Pay Rate ADS            0                0                  0              0                0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a              n/a
                                  Contract Rate >                0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

CHFA Next Steps Funds                                              $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

DECD / HUD HOME Funds                                              $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

DECD Affordable Housing Program - FLEX                             $0               Pay Rate ADS            0                0                  0              0                0
                                    Term (Yrs.) >                   0                        DSC            n/a              n/a                n/a            n/a              n/a
                                 Contract Rate >                 0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

DECD Housing Trust Fund                                            $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

DECD / HUD CDBG Small Cities Funds                                 $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

DECD Other [ Specify ]                                             $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

Other [ Specify ]                                                  $0               Pay Rate ADS            0                0                  0              0                0
                                       Term (Yrs.) >                0                        DSC            n/a              n/a                n/a            n/a              n/a
                                     Contract Rate >             0.00%               Bal. (E.O.Y.)           0                0                  0              0                0

                                                                                     ADS STOT. =            0                 0                  0              0                0

                                                    CASH FLOW AFTER DEBT SERVICE (CFADS)                    0                 0                  0              0                0
                                                                                 PROJECT DSC =             0.00              0.00               0.00           0.00             0.00
                                                              EFFECTIVE DSC (w/Op-DSC Reserve)              n/a              n/a                n/a            n/a              n/a
OPERATING / DEBT SERVICE / COVERAGE RESERVE

Required Financing Reserve               NPV's                               Project Actual DSC >          0.00              0.00               0.00           0.00             0.00
                     For 1.0 DSC           0                                   BALANCE (B.O.Y.)             0                0                  0              0                0
               For 1.0 - 1.15 DSC          0                           OUTFLOWS (for 1.00 DSC)              0                0                  0              0                0
               TOTAL RESERVE              $0                                          5.00%                 0                0                  0              0                0
                                                                               Paid INTO Reserve            0                0                  0              0                0
Required Next Steps Reserve              NPV's                                 BALANCE (E.O.Y.)             0                0                  0              0                0
                    For 1.0 DSC            0                 Economic Coverage (1.00 to 1.15 DSC)           0                0                  0              0                0
              For 1.0 - 1.05 DSC           0                 Economic Coverage (1.00 to 1.05 DSC)           0                0                  0              0                0
               TOTAL RESERVE              $0                                     EFFECTIVE NOI              0                0                  0              0                0
                                                                                EFFECTIVE DSC               n/a              n/a                n/a            n/a              n/a




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DOCUMENT INFO
Description: Tax Implications of Deed in Lieu document sample