Terminate Iowa Rental Agreement by ymk16089

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									                     2009 LOW-INCOME HOUSING TAX CREDIT THRESHOLD APPLICATION
                                       IOWA FINANCE AUTHORITY
                                2015 Grand Avenue Des Moines, IA 50312
                                     (515) 725-4900 or (800) 432-7230
                                            Fax: 515-725-4901
                                                         www.IowaFinanceAuthority.gov
          (The capitalized terms in the Threshold Application shall have the same meaning as the capitalized terms in the Qualified Allocation Plan.)
Application Type:                                                                                  For IFA Use Only:
                            1
         Initial Application/Reservation                                                               IFA Project No.
                                                                                                       Application Recd.
Project Type:                                                                                          Application Fee Recd.
         1
        9% Competitive Round

GENERAL INFORMATION                                                                                                                          SECTION 1
TYPE OF LOW-INCOME HOUSING TAX CREDIT REQUESTED (check as applicable)
 1.01        New Construction without Federal Subsidies
 1.02        New Construction with Federal Subsidies
 1.03        Acquisition/Rehabilitation (adaptive reuse or historic preservation) without Federal Subsidies
 1.04        Acquisition/Rehabilitation (adaptive reuse or historic preservation) with Federal Subsidies
 1.05        Rehabilitation (adaptive reuse or historic preservation) only without Federal Subsidies
 1.06        Rehabilitation (adaptive reuse or historic preservation) only with Federal Subsidies

SET-ASIDE REQUESTS
 1.09 Are you requesting Tax Credit from the Nonprofit Set-Aside?                                                                    Yes                 No

FUNDING REQUESTS
 1.11 Are you planning to use the Senior Living Revolving Loan Fund?                                                                 Yes                 No
 1.12 Are you planning on using the Transitional Housing Revolving Loan Program?                                                     Yes                 No
 1.13 Are you using or planning to use State HOME Funds?                                                                             Yes                 No
         A joint application for both Low-Income Housing Tax Credits and State HOME Funds from the Iowa
         Department of Economic Development is utilized.


OWNERSHIP ENTITY                                                                                                                             SECTION 2
  2.01   Legal Name of Ownership Entity*
         Address
         Telephone No.                             Fax No.
         Tax ID Number*                            E-mail
  2.02   Ownership Entity Contact Name
         Address
         Telephone No.                             Fax No.
         E-mail
  2.03   Name of General Partner and/or Managing Member or other (identify)

         Address
         Telephone No.                             Fax No.
         Tax ID Number                             E-mail
  2.04   Name of Co-General Partner and/or Co-Managing Member or other (identify), if applicable

         Address
         Telephone No.                                              Fax No.
         Tax ID Number                                              E-mail
*Name/Tax ID Number in which Tax Credits will be issued.

         de8c4ed1-8393-445e-b973-2a8d39750db3.xls                      revised 9/12/2008                                                        Page 1
              OWNERSHIP ENTITY - continued                                                                                                                      SECTION 2
              2.05     List the principal participants for the Partnership, Limited Liability Company, or Corporation.
                      (Type an “X” in one of the two columns under Partnership, Limited Liability and Corporation.)
                                                                                Partnership                  Limited Liability                             Corporation
                       Name                Phone      % Ownership    General Partner    Limited Partner   Member        Managing Member      Shareholder                 Officer




              PROJECT INFORMATION                                                                                                                               SECTION 3
              If this is a scattered site project, complete a Scattered Site Addendum for each site.
              3.01     Project Name
              3.02     Project Address(es)
                      (include all buildings)


              3.03     City                                                                               Zip
              3.04     County                       ADAIR
              3.05     Congressional District                                State Senate District                                   State House District
              3.06     Is the entire project located in Qualified Census Tract?                                                             Yes           No
                       If yes, please select up to six Qualified Census Tract(s).
                       <Select One>                                 <Select One>                                   <Select One>

                       <Select One>                                 <Select One>                                   <Select One>

                       Is the entire project located in a Federally declared County approved for
                       Individual Assistance or Individual and Public Assistance?                                                               Yes                 No
                      See Appendix D.


              APPLICABLE FRACTION
              Unit Fraction Calculation
              3.07   Number of Low-Income Units for which rent is charged
              3.08   Number of Total Units for which rent is charged
              3.09   Unit Fraction Percentage                                                                                             0.00%

              Floor Space Fraction Calculation
              3.10   Floor space for Low-Income Units for which rent is charged (sq. ft.)
              3.11   Floor space for Total Units for which rent is charged (sq. ft.)
              3.12   Floor Space Fraction Percentage                                                                                      0.00%

              3.13     Applicable Fraction Calculation                                                                                    0.00%



              RENTAL ASSISTANCE
              3.14 Do any Low-Income Units receive or have any Low-Income Units been approved
                   to receive Rental Assistance at time of Threshold Application?                                                         Yes                  No
                   If Yes, list the type of Rental Assistance:
                                       Section 8 New Construction or Substantial Rehabilitation
                                       Section 8 Moderate Rehabilitation
                                       Rural Development 515 Rental Assistance
                                       Section 8 Vouchers
                                       State Assistance
                                       Other:
                   Number of units receiving Rental Assistance?
                   Number of years of Rental Assistance Contract?

              3.15     EXISTING SUBSIDIES WITH ACQUISITION PROJECTS
                                  Section 221(d)(3)BMIR (Below Market Rate Interest Rate)
                                  Section 236
                                  Section 8 Rent Supplement or Rental Assistance payment
                                  Other:

              3.16     HUD APPROVAL
                       Is HUD approval for transfer of physical assets required?                                                          Yes                  No



de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                                                                           Page 2
PROJECT DESCRIPTION                                                                                                       SECTION 4
4.01   Occupancy Type:                            <Select One>

4.02   Special Needs Type:                    <Select One>

4.03   Unit Amenities (check all applicable boxes)
           Air Conditioning                        Microwave                                        Washer/Dryer Hook-up
           Ceiling Fans                            Patio/balcony                                    Window Coverings
           Dishwasher                              Range                                            Other
           Exterior storage                        Refrigerator                                     Other
           Garbage Disposal                        Washer & Dryer                                   Other
           Kitchen Exhaust Fan

       Project Amenities (check all applicable boxes)
           Beauty Salon/Barber                     Gardening Area                                   Security Locked Building
           Clubhouse                               Gazebo                                           Swimming Pool
           Craft/Game Room                         Laundry Room                                     Walking Trails
           Community Room                          Library                                          24-Hour on site resident manager
           Computer Learning Center                Media Center Room                                Other
           Dining Room                             On-Site Leasing Office                           Other
           Fitness/Exercise Room                   Playground -Commercial Equipmt.
           Garages                                 Picnic Area/Tables
           Accessory Buildings (describe):

       Community Building                                                                                         square feet
       Community Room                                                                                             square feet
       Garages - Number
       Garages - Will rent be charged?                                                                  Yes          No
       Surface Parking - Number
       Surface Parking - Will rent be charged?                                                          Yes          No
       Parking Under/Within Building - Number
       Parking Under/Within Building - Will rent be charged?                                            Yes          No

PROJECT SQUARE FOOTAGE
4.04   Residential square footage (all LIHTC/Market Rent Units including Manager's Units that are
       classified as LIHTC or Market Rate)                                                                        square feet
4.05   Common area square footage (including common area Manager's Unit)                                          square feet
4.06   Commercial square footage                                                                                  square feet
       Gross square footage area of all buildings                                                             0   square feet
4.07   Accessory Buildings and Areas (describe):

OTHER
4.08   Total Number of Buildings that includes units for which rent is charged
4.09   If any building in the Project consists of 4 or fewer units, will any unit in such building be
       occupied by the owner of such building or any person who is related to such owner?
                                                                                                                     Yes            No
4.10   Elevator:            Yes          No              Number of Stories
4.11   Number of fully handicap accessible units (Minimum 5% of total units - QAP Appendix 1G, #18)
4.12   Number of hearing/visual handicap units (Minimum 2% of total units - QAP Appendix 1G, #18)
         NOTE: Minimum 5% handicap accessible units plus 2% hearing and visually impaired
4.13   Are 100% of the units handicapped accessible?                                                                 Yes            No
4.14   If planning to submit a Resident Population with Special Needs Plan, what will be the per unit
       expense? (Must be a minimum of $150/unit)                                                                                    /unit




       de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                            Page 3
PROJECT DESCRIPTION - continued                                                                                                                                                                 SECTION 4
4.15   UNIT DISTRIBUTION TABLE
       For a Low-Income Unit, the combination of tenant-paid monthly rent and utility or utility allowance may not exceed the maximum allowable rents under Section 42 of the Code.
       Include Manager and Employee units in applicable tables below.

       Low-Income Units

                                                                                                                    Total Sq. Ft.
                                                             Number of    Number of   Total Number   Average Sq.     Per Bdrm     AMGI % Served      Monthly       Total Monthly      Utility    Gross Rent per
        Manager Unit    Employee Unit          Unit Type     Bedrooms     Bathrooms      of Units    Ft. Per Unit       Size       (30/40/50/60)      Rent            Rents        Allowance          Unit
       No              No               <Select One>
                                                   1                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       No              No               <Select One>                                                                     0                                              $0                            $0
       Totals                                                                              0                             0                                              $0

       Market Rate Units
                                                                                                                    Total Sq. Ft.
                                                             Number of    Number of     Number of    Average Sq.     Per Bdrm        Monthly       Total Monthly       Utility     Gross Rent
        Manager Unit    Employee Unit          Unit Type     Bedrooms     Bathrooms       Units      Ft. Per Unit       Size          Rent            Rents         Allowance       Per Unit
       No              No               <Select One>                                                                     0                              $0                            $0
       No              No               <Select One>                                                                     0                              $0                            $0
       No              No               <Select One>                                                                     0                              $0                            $0
       No              No               <Select One>                                                                     0                              $0                            $0
       No              No               <Select One>                                                                     0                              $0                            $0
       No              No               <Select One>                                                                     0                              $0                            $0
       No              No               <Select One>                                                                     0                              $0                            $0
       No              No               <Select One>                                                                     0                              $0                            $0
       No              No               <Select One>                                                                     0                              $0                            $0
       Totals                                                                              0                             0                              $0

4.16   Total number of market rate units minus manager and employee units from Market Rate table:                        0

       Common Space Units (No Rent Charged)
                                                                                                                    Total Sq. Ft.
                                                             Number of    Number of     Number of    Average Sq.     Per Bdrm
        Manager Unit    Employee Unit          Unit Type     Bedrooms     Bathrooms       Units      Ft. Per Unit       Size
       No              No               <Select One>                                                                     0
       No              No               <Select One>                                                                     0
       No              No               <Select One>                                                                     0
       Totals                                                                              0                             0
       (See Section 18 Utility Allowances and Exhibit 18T)

4.17   Number of Total Units for which rent is charged (Section 3.08):                                                   0
4.18   Total number of units from Low-Income and Market Rate tables (Section 4.15):                                      0




            de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                                                                   Page 3a
SITE INFORMATION                                                                                              SECTION 5
SITE CONTROL
5.01  Who has site control for the Project?

5.02   Is any of the land or the buildings being acquired from a party related to this                      Yes            No
       transaction? (If Yes, Exhibit 2B is required.)
5.03   Site control is in the form of:        (Exhibit 1B)
                   Purchase Contract                                         Master Lease
                   Option                                                    Sandwich Lease
                   Recorded Warranty Deed
                   Executed long-term landlease through compliance/extended use period
                  Other (describe)
5.04   Expiration Date of contract, lease or option (month/year)
5.05   Total Cost of Land
       If Total Cost of Land is different than listed in Section 13.01, please explain.


5.06   Exact Area of Site                                   acres
       If different than legal description or site control documentation, explain below.


5.07   Name of Seller
       Address
       City, State, Zip
       Telephone Number
5.08   Does any portion of the site contain detrimental characteristics? If yes, provide a                        Yes            No
       remediation plan and budget to make the site suitable in Exhibit 7B.

OFF-SITE INFRASTRUCTURE
5.09  Available at Site with Adequate Capacity (immediately adjacent to property)
                Water              Yes                     No                Gas               Yes                    No
                Sewer              Yes                     No                Electrical        Yes                    No
                Paving             Yes                     No
      If "No" is selected for any of the above utilities, please provide a brief explanation and include these costs in Section
      13.02 in the total for "Off-site Work for Utility/Paving Extension."
      Explain:




       de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                         Page 4
       DEVELOPMENT TEAM                                                                                                  SECTION 6
        6.01 Has the Project Developer, General Partner/Managing Member or Development Consultant completed one
             LIHTC Project through the attainment of Form 8609?                                                    Yes       No

       DEVELOPER - MANDATORY
       6.02 Is the Developer a non-profit?                                                                         Yes       No
             Has the Developer previously submitted a LIHTC to IFA? (9% deals)                                     Yes       No
             Has the Developer previously submitted a LIHTC to IFA? (4% deals)                                     Yes       No
             Has the Developer received an award of LIHTC from IFA?                                                Yes       No
             Has the Developer completed a LIHTC project in which all LIHTC units have been leased at least
             once, either in Iowa or any other state?                                                              Yes       No
             If yes, provide one project name and address:
             Enter all state abbreviations where you have had previous LIHTC projects (example: IA, TX, CA, MN):



             Does the Developer have any uncorrected 8823(s) on any LIHTC projects in Iowa or another
             state?                                                                                                Yes       No
             If yes, provide Project Name(s), Addresses, and explain:



             Has the Developer been debarred from any program administered by IFA, any other state
             agencies, or any federal agency?                                                                      Yes       No
             If yes, explain:




             Has the Developer been removed as the General Partner for any LIHTC Projects?                         Yes       No
             If yes, explain:



             Developer Name:
             Complete Address:
             Business Type:                                                <Select One>
             If Other, please explain:
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:




de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                          Page 5
       CO-DEVELOPER (if applicable)
       6.03 Is the Co-Developer a non-profit?                                                                      Yes   No
             Has the Co-Developer previously submitted a LIHTC to IFA? (9% deals)                                  Yes   No
             Has the Co-Developer previously submitted a LIHTC to IFA? (4% deals)                                  Yes   No
             Has the Co-Developer received an award of LIHTC from IFA?                                             Yes   No
             Has the Developer completed a LIHTC project in which all LIHTC units have been leased at least
             once, either in Iowa or any other state?                                                              Yes   No
             If yes, provide one project name and address:
             Enter all state abbreviations where you have had previous LIHTC projects (example: IA, TX, CA, MN):



             Does the Co-Developer have any uncorrected 8823(s) on any LIHTC projects in Iowa or another
             state?                                                                                                Yes   No
             If yes, provide Project Name(s), Addresses, and explain:



             Has the Co-Developer been debarred from any program administered by IFA, any other state
             agencies, or any federal agency?                                                                      Yes   No
             If yes, explain:




             Has the Co-Developer been removed as the General Partner for any LIHTC Projects?                      Yes   No
             If yes, explain:



             Co-Developer Name:
             Complete Address:
             Business Type:                                                <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:




de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                      Page 5
       GENERAL PARTNER/MANAGING MEMBER - Mandatory
       6.04 Enter all state abbreviations where you have had previous LIHTC projects (example: IA, TX, CA, MN):



             Does the General Partner have any uncorrected 8823(s) on any LIHTC projects in Iowa or
             another state?                                                                                       Yes   No
             If yes, provide Project Name(s), Addresses, and explain:



             Has the General Partner been debarred from any program administered by IFA, any other state
             agencies, or any federal agency?                                                                     Yes   No
             If yes, explain:




             Has the General Partner been removed as the General Partner for any LIHTC Projects?                  Yes   No
             If yes, explain:



             General Partner Name:
             Complete Address:
             Business Type:                                                <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:

       CO-GENERAL PARTNER/MANAGING MEMBER (if applicable)
       6.05 Enter all state abbreviations where you have had previous LIHTC projects (example: IA, TX, CA, MN):



             Does the Co-General Partner have any uncorrected 8823(s) on any LIHTC projects in Iowa or
             another state?                                                                                       Yes   No
             If yes, provide Project Name(s), Addresses, and explain:



             Has the Co-General Partner been debarred from any program administered by IFA, any other
             state agencies, or any federal agency?                                                               Yes   No
             If yes, explain:




             Has the Co-General Partner been removed as the General Partner for any LIHTC Projects?               Yes   No
             If yes, explain:



             Co-General Partner Name:
             Complete Address:
             Business Type:                                                <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:




de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                     Page 5
       ARCHITECT - Mandatory
       6.06 Architect Name:
             Complete Address:
             Business Type:                                              <Select One>
             IA License Number (must be current):
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:

       ENERGY CONSULTANT - Mandatory
       6.07 Energy Consultant Name:
             Complete Address:
             Business Type:                                              <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:

       MANAGEMENT COMPANY - Mandatory
       6.08 Management Company Name:
             Complete Address:
             Business Type:                                              <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience (required for this
             team member):

       TAX ACCOUNTANT - Mandatory
       6.09 Tax Accountant Name:
             Complete Address:
             Business Type:                                              <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:

       TAX ATTORNEY - Mandatory
       6.10 Tax Attorney Name:
             Complete Address:
             Business Type:                                              <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:




de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                Page 5
       CONTRACTOR
       6.11 Contractor Name:
             Complete Address:
             Business Type:                            <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:

       DEVELOPMENT CONSULTANT
       6.12 Development Consultant Name:
             Complete Address:
             Business Type:                            <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:

       ENGINEER
       6.13 Engineer Name:
             Complete Address:
             Business Type:                            <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:

       SYNDICATOR
       6.14 Syndicator Name:
             Complete Address:
             Business Type:                            <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:

       OTHER
       6.15 Describe other position:
             Name:
             Complete Address:
             Business Type:                            <Select One>
             Tax Identification Number:
             Contact Person:
             Email Address:
             Telephone Number:
             Website URL:
             Years of Related Experience:
             Years of Section 42 Related Experience:




de8c4ed1-8393-445e-b973-2a8d39750db3.xls                              Page 5
       IDENTITY OF INTEREST
       6.16
                  If any individual or entity for the Project is Controlled By, In Control of, Affiliated With, a Related Party to, or has an Identity of Interest
                  with any of the other individuals or entities for the Project, mark each applicable intersecting box with an "X".




                                                                                                                                                                                                                Sellers/Lessor of Land or Buildings to the Project




                                                                                                                                                                                                                                                                                           Project Management or Supervisor/Consultant
                                                                                                                                                                         Company Members or any CM's of LLC's
                                                                                                                                               Managing Members of LLC
                                                                                                                  Parties to a Joint Venture




                                                                                                                                                                                                                                                                                                                                                                                                                                                                Syndicators / Investors
                                                                                                                                                                                                                                                                     General Contractors




                                                                                                                                                                                                                                                                                                                                                                                                                                            Property Managers
                                                                                                                                                                                                                                                                                                                                                                                   Material Suppliers
                                                                                               General Partners




                                                                                                                                                                                                                                                                                                                                                                  Subcontractors
                                                                               Co-Developers




                                                                                                                                                                                                                                                                                                                                                                                                                    Accountants
                                                                  Developers




                                                                                                                                                                                                                                                                                                                                         Engineers

                                                                                                                                                                                                                                                                                                                                                     Architects




                                                                                                                                                                                                                                                                                                                                                                                                        Attorneys
                                                      Applicant




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Realtors
                                                                                                                                                                                                                                                                                                                                                                                                                                  Lenders
       Applicant


       Developers


       Co-Developers


       General Partners


       Parties to a Joint Venture


       Managing Members of an LLC


       Company Members and any CM's of LLC's

       Sellers/Lessor of Land or Buildings to be in
       Project


       General Contractors

       Project Management or
       Supervisor/Consultants


       Engineers


       Architects


       Subcontractors


       Material Suppliers


       Attorneys


       Accountants


       Lenders


       Property Managers


       Syndicators / Investors


       Realtors


       6.17 For each "X" marked in the chart above, include an explanation describing the relationship between the parties.




de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                                                                                                                                                                                                                                                                                                                                                                                             Page 5
de8c4ed1-8393-445e-b973-2a8d39750db3.xls   Page 5
NONPROFIT DETERMINATION - if applicable                                                                                       SECTION 7
7.01   Name of Nonprofit
       Federal I.D. Number
       Contact Name                                                                             Telephone No.
       Address
       Email                                                                                             Ownership %
7.02   Is the Nonprofit affiliated with or controlled by a for-profit organization?                                         Yes           No
       (If answer is Yes, not eligible for Nonprofit Set-Aside)
7.03   Will Nonprofit ownership remain the same throughout the compliance period?                                           Yes           No

ACQUISITION OF EXISTING BUILDINGS - if applicable                                                                             SECTION 8
In order to qualify under Section 42(d)(2)(B)(ii) of the Code (the ten-year rule), Exhibit 14T must be completed unless you are NOT claiming
Acquisition credits.

If completing this Section, need Exhibit11T - Type of Ownership Control.
8.01   How many buildings will be acquired for the Project?
8.02   Are all of the buildings currently under control of the Project?                                               Yes            No
       If No, explain:
8.03   Building(s) acquired or to be acquired from an insured depository institution in default or
       from a receiver or conservator of such institution?                                                            Yes            No
       If Yes, name of institution:
8.04
       Building(s) acquired or to be acquired from owner in default or as a result of foreclosure?                    Yes            No
       If Yes, name of Owner:
8.05   Building(s) acquired or to be acquired from a governmental unit or a qualified nonprofit
       organization?                                                                                                  Yes            No
       If Yes, name of governmental unit or nonprofit organization:

8.06   Building (if a single family residence) acquired or to be acquired from owner who used such
       residence for no other purpose than his or her principal residence?                                            Yes            No
       If Yes, name of Owner:




        de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                              Page 6
  REHABILITATION INFORMATION - if applicable                                                            SECTION 9
  (If completing this section, need Exhibit 11T - Type of Ownership Control)
     9.01 Number of buildings with rehabilitation expenditures:                                                 0

   9.02   Total hard construction cost                                                                     $0
          Applicable fraction                                                                 x          0.00%
          Total hard construction costs for low-income units:                                 =            $0
          Number of LIHTC units:                                                              ÷             0
          Hard construction cost per LIHTC Unit:                                              =            $0

   9.03   Total adjusted eligible basis (13.23) x 20%                                                      $0

          Rehabilitation Expenditures                                                                      $0




          Are Rehabilitation Expenditures equal to or greater than 20% of adjusted eligible       This is not applicable
          basis or $10,000 per LIHTC unit?                                                        to new construction.



  RELOCATION INFORMATION                                                                             SECTION 10
   10.01 Does this Project require any form of temporary or                                       Yes               No
          permanent relocation of existing tenants?
          (If Yes, complete Exhibit 13T - Relocation Plan)




de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                   Page 7
GENERAL PARTNER/DEVELOPER CONTRIBUTION                                                                          SECTION 11
11.01 Is there a Developer/General Partner contribution?                                                    Yes        No

      If Yes, user must select one or more of the following and then describe below:

           Cash              Amount of Contribution

           Land              Amount of Contribution

           Other             Amount of Contribution

           Describe:




RESERVES                                                                                                        SECTION 12

12.01 Select the manner the operating reserve will be established.

           Line of credit (Enter the line of credit fees in 13.06 and note the line of credit limit in 15.04)


           Escrow (Enter the cash balance in escrow accounts in 13.10)



12.02 Select the manner in which the replacement reserve will be escrowed and used only for repairs to the units.
      (QAP Section 4.3.2)

           Deposits equal to QAP amount for family Projects.
           Deposits equal to QAP amount for older person Projects.

           Deposits higher than QAP amounts as required by lender, syndicator, etc.




  de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                         Page 8
PROJECT COSTS AND ELIGIBLE BASIS                                                                                                       SECTION 13
List total Project Costs and Eligible Basis by the Credit Type
                                                                                         ELIGIBLE BASIS BY CREDIT TYPE
                                                                          New Construction                         Acquisition/Rehabilitation


                               ITEM                                        30% PV (1)      70% PV (2)                    30% PV (1)      70% PV (2)
                                                            Project Costs Eligible Basis Eligible Basis   Project Costs Eligible Basis Eligible Basis
13.01 TO PURCHASE LAND AND BUILDINGS

       Land and Broker's Fees

       Existing Structures
13.02 FOR SITE WORK

       On-site Work

       Off-site Work for Utility/Paving Extension

       Demolition

       Garages (not included in rent)
       Other(s) (Specify)
13.03 FOR CONSTRUCTION COSTS

       New Building

       Rehabilitation
       Accessory Building(s) (includes garages that are
       part of rent)
       Community Service Facility

       General Requirements

       Builder Overhead

       Builder Profit

       Builder Bond Fee

       Construction Contingency


       Other Fees (Specify)
       Less EZ Sales Tax Rebate                     (from
       Section 15.04)
       Less Builder's Eligible Basis Reduction
       (from Section 13.02)
13.04 FOR PROFESSIONAL FEES

       Architect Fees -Design

       Architect Fees -Supervision (inspection)

       Engineer Fees

       Attorney Fees (Real Estate)

       Accountant Fees
       Other(s) (Specify)
13.05 FOR INTERIM COSTS
       Construction Insurance
       Construction Interest
       Construction Loan Origination Fee
       Construction Loan Credit Enhancement
       Taxes During Construction
                SUBTOTAL -THIS PAGE -
               (spreadsheet will calculate)
(1)
      The 30% PV column is to be used for items eligible for an approximately 3.45% credit.
(2)
      The 70% PV column is to be used for items eligible for an approximately 9.00% credit.



            de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                  Page 9
 PROJECT COSTS AND ELIGIBLE BASIS -cont.                                                                                                         SECTION 13
                                                                                                    ELIGIBLE BASIS BY CREDIT TYPE
                                                                             New Construction                           Acquisition/Rehabilitation


                              ITEM                            PROJECT          30% PV (1)      70% PV (2)          PROJECT        30% PV (1)      70% PV (2)
                                                               COSTS          Eligible Basis Eligible Basis         COSTS        Eligible Basis Eligible Basis

                    SUBTOTALS FROM PAGE 9
13.06      FOR FINANCING FEES AND EXPENSES
           Bond Premium and/or Credit Report
           Bond Costs
           Permanent Loan Origination Fee
           Permanent Loan Credit Enhancement
           Title and Recording
           Attorney's Fees
           Letter of Credit (LOC) Fees
           Other(s) (Specify)
13.07      FOR SOFT COSTS
           Property Appraisal
           Market Study
           Environmental Report
           Tax Credit Application Fees
           Tax Credit Reservation Fee
           Tax Credit Compliance Fees
           Tax Attorney Fees
           City Impact Fees
           Furnishings and Equipment
           Capital Needs Assessment
           Tenant Relocation Costs
           Other(s) (Specify)
13.08      FOR SYNDICATION COSTS
           Organizational (Partnership)
           Bridge Loans Fees and/or Expenses
           Tax Opinion
           Other(s) (Specify)
           Project Costs before Developer/Consultant
           Fees
           FOR DEVELOPER'S/CONSULTANT'S FEES
           (3)
13.09

           Developer's Overhead
           Consultant's Fee
           Developer's Fee
           Other(s) (Specify)
13.10      FOR PROJECT RESERVE
           Rent-up Reserve
           Operating Reserve
           Other(s) (Specify)
Total Project Costs
(spreadsheet will calculate)                                                                                                                 0              0
           Reduction in Eligible Basis for Developer
13.11      Fees (Section 14.02)                                          0                                                   0
13.12      Total Project Costs                                                                                                               0              0
13.13      Total Cost per Unit
13.14      Total Construction Cost per Unit
(1)
      The 30% PV column is to be used for items eligible for an approximately 3.45% credit.
(2)
      The 70% PV column is to be used for items eligible for an approximately 9.00% credit.
(3)
      Consultant's fees, Developer's fees and Developer's overhead are limited. See Qualified Allocation Plan (QAP).


de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                                               Page 10
PROJECT COSTS AND ELIGIBLE BASIS - continued                                                                                                                             SECTION 13
                                                                                                                               ELIGIBLE BASIS BY CREDIT TYPE

                                                                                                                New Construction                      Acquisition/Rehabilitation

                                                                                                                     (1)                   (2)                 (1)              (2)
                                                                                              PROJECT       30% PV                 70% PV              30% PV         70% PV
                                           ITEM                                                COSTS      Eligible Basis         Eligible Basis      Eligible Basis Eligible Basis


                               TOTALS FROM PAGE 10                                                                                                                   0                0


      13.15   Less portion of any grants used to finance qualifying Project costs

              List Grants:



      13.16   Less amount of non-qualified nonrecourse financing



      13.17   Less non-qualifying excess portion of higher quality units



      13.18   Less Federal Historic Tax Credit (Residential Portion Only)

      13.19
              Less Salaries and Benefits for all paid full-time staff paid for with Federal Grant Funds



      13.20   Less Community Service Facility



      13.21   TOTAL ELIGIBLE BASIS                                                                                                                                   0                0

      13.22
              130% Adjustment for high cost area (not allowed for acquisition basis Sec. 13.01)                     100%                   100%              100%              100%



      13.23   TOTAL ADJUSTED ELIGIBLE BASIS                                                                    #VALUE!                 #VALUE!                       0                0

      13.24   Multiplied by the Applicable Fraction (See item 3.13 -% of Project which is low-
              income)



      13.25   130% Adjustment for high cost area Community Service Facility                                          -                       -                 -                 -



      13.26   TOTAL QUALIFIED BASIS                                                                            #VALUE!                 #VALUE!            #VALUE!            #VALUE!


      13.27   Multiplied by the Applicable Percentage*                                                              3.45%                 9.00%              3.45%             9.00%

              *For purposes of application. Actual % used at time of allocation may vary.


      13.28   MAXIMUM ALLOWABLE CREDIT AMOUNT
              (For application and reservation purposes only -Allocation may be less)                                      0                     0        #VALUE!            #VALUE!



      13.29   COMBINED 30% AND 70% PV CREDIT                                                              #VALUE!



      13.30   TOTAL CREDIT REQUESTED PER UNIT                                                             #VALUE!
              (Actual amount of Tax Credit requested divided by number of low income units)


PLEASE NOTE: The actual amount of Tax Credit for the project is determined by IFA. If the Project is eligible for Federal Historic Tax Credit, include a complete
breakdown of the determination of eligible basis for the Federal Historic Credit with the Threshold Application.

(1)
      The 30% PV column is to be used for items eligible for an approximately 3.45% credit.
(2)
      The 70% PV column is to be used for items eligible for an approximately 9.00% credit.




       de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                                                           Page 11
Builder, Developer Fee and Other Limits                                                                        SECTION 14
14.01   Builder's Profit, Overhead, & General Requirements as a Percentage of Hard Construction Costs.

                                   Maximum %
                                    Allowed                               14%


                                                                                               New                Acquisition/
                                                                                            Construction         Rehabilitation
                      Builder Fees:
                              Overhead                                                                     0                      0
                              Profit                                                                       0                      0
                             General Requirements                                                          0                      0
                      Total Builder Fees:                                                                  0                      0

                      Other Costs:
                              Site Work                                                                    0                      0
                              Architect and Engineer Fees                                                  0                      0
                              New Structures                                                               0                      0
                              Rehabilitation                                                                                      0
                              Accessory Structures                                                                                0
                              Contingency/Other Fees                                                                              0
                      Total Costs for calculating Builder Fees:                                            0                      0
                      Maximum Allowable Builder Fees:                                                      0                      0
                      Amount of Eligible Basis Reduction                                                   0                      0

14.02   Aggregate Developer Fees, Overhead, Consultant Fee Limits

                                                                                Maximum %
              Type of Units
                                                                                 Allowed
              New Construction                                                    15%
              Acquisition/Rehabilitation                                          17%          New                Acquisition/
                                                                                            Construction         Rehabilitation

        Total Project Costs (before Developer fee and reserves)
              Less Land and Broker's Fees                                                                                         0
        Total Costs for calculating Developer/Consultant Fees:                                             0
        Allowable Developer/Consultant Fees for New Construction Units:                                    0
        Allowable Developer/Consultant Fees Acquisition/Rehabilitation Units:
        Budgeted Developer/Consultant Fees:                                                                                       0
        Amount of Eligible Basis Reduction                                                                                        0


                      Total Amount of Eligible Basis Reduction                                                                    0




    de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                    Page 12
Builder, Developer Fee and Other Limits - continued                                                    SECTION 14

14.03 Unit Cost Cap


      The cost per unit shall be no greater than $237,000. The calculation is as follows:

            # of Units    Project Costs          Fed Hist Credit(Res Portion)               Calculated Cost Per Unit
                 0              0                             0                                                   -

                                                                        The Unit Cost Cap Requirement has been met.


      Does one or more of the following apply? (check all that apply)
         Project has received a commitment of State historic rehabilitation tax credits.
         Project is eligible for Federal Historic rehabilitation tax credit.
         All project sites are located in a Qualified Census Tract.
         All project sites are located in an Individual Assistance Disaster or Individual and Public Assistance
         Disaster county.

      If one of the above is checked, then is the Applicant requesting that the
      reservation amount may be calculated based on the Eligible Basis and the
      Equity Gap methods?                                                                      Yes           No




   de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                   Page 13
Builder, Developer Fee and Other Limits - continued                                     SECTION 14

14.04 Cost Cap Method of Tax Credit Determination




 4% Basis:       #VALUE! x % of Low Income Units    0.00%   x Applicable%   3.45%   =       #VALUE!

 9% Basis:       #VALUE! x % of Low Income Units    0.00%   x Applicable%   9.00%   =       #VALUE!

Tax Credits Allowed Using Cost Cap method                                                   #VALUE!




   de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                               Page 14
SOURCES OF FUNDS (CONSTRUCTION AND PERMANENT FINANCING)                                                                             SECTION 15

15.01   CONSTRUCTION FINANCING
        List individually sources of construction financing.
                                                                                                               Term of Interest Rate of     Commitment
                Source of Funds/Name of Lender                 Amount of Funds          Type of Loan            Loan         Loan              Date

                                                                                 <Select One>

                                                                                 <Select One>

                                                                                 <Select One>

                                                                                 <Select One>

                                                                                 <Select One>

                                                                                 <Select One>


        Total Amount of Funds for Construction
        Describe any loan types where Other was selected:




15.02   PERMANENT FINANCING
        List individually source(s) of permanent financing (not including Equity Funds).
                                                                                                  Type and     Annual Debt       Interest       Amort.
        Source of Funds/Name of Lender                                       Amount of Funds    Term of Loan   Service Pmt         Rate         Period

        1st Mortgage (or Rural Development 515 or Tax Exempt Financing)


        HOME Loan(s)
        IDED
        CITY
        Subordinate Debt (or CDBG Financing)




        Deferred Developer Fees




        Total Amount of Funds from Permanent Financing



        A.   Total Sources of Permanent Financing (not including Equity Funds)                   $              0 32

        B.   Proceeds from State Historic Tax Credits ( must have firm commitment)

        C.   Proceeds from Federal Historic Tax Credits
        D.   Total Sources (Except LIHTC Equity Funds)                                                          0

        E.   Proceeds from Low Income Housing Tax Credits (Equity Funds)                                        0

        F.   Proceeds from Section 15.03                                                                        0
        G.   TOTAL - ALL SOURCES                                                                 $              0



    de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                              Page 15
SOURCES OF FUNDS (CONSTRUCTION AND PERMANENT FINANCING - cont.)                                                         SECTION 15

15.03
          Sources of Funds not included in 15.01 and 15.02
          (LIST ONLY FUNDS THAT REDUCE TOTAL PROJECT COST - INCLUDING OTHER                             Amount of
          FUNDS MAY RESULT IN A FINANCING GAP.)                                                          Funds
          CDBG Grant
          HOME Grant
          Federal Home Loan Bank Grant
          State Grant (Specify and List below)




          Local Grant (Specify and List below)


          Developer/General Partner Contribution (from Section 11.01)                                               -
          Other Grants or Equity
           Enterprise Zone Tax Credit Proceeds


                                                                            Total to Section 15.02F                 0    48     48

15.04 Sources of Funds not included in 15.01, 15.02 and 15.03.                  (Examples: Tax          Amount of
      Abatement, Donated Land, EZ Tax Rebate)                                                            Funds
          Enterprise Zone Sales Tax Rebate
          Operating Reserves Line of Credit Limit




15.05 Is any portion of the Source of Funds for the Project financed directly or indirectly with Federal,
      State or Local Government Funds?                                                                                  Yes             No
             If yes, what is the total amount?

15.06 Will Developer elect to exclude any below market federal loan from eligible basis?                                Yes             No

              If Yes, what amount is excluded?

15.07 Is tax-exempt financing being used?                                                                               Yes             No

             If Yes, what is the percentage of tax-exempt financing to the total cost of the Project?




        de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                              Page 16
EQUITY INFORMATION                                                                                                                                 SECTION 16
 16.01 Do you intend to syndicate Tax Credits for this development?                                                                     Yes                     No

          If No, describe how tax credit equity will finance the Project.




          If Yes, provide information concerning any syndication or placement of interests in the ownership entity and estimate proceeds to be
          received from such sale or placement.

                           Actual                     Anticipated


          Total Syndication Proceeds                                                         ## Federal Historic Tax Credit Proceeds
          Syndication value per Tax Credit dollar (%)                                           State Historic Tax Credit Proceeds
                                                                                                Date of Award (State Credits)
          Provide a narrative explaining when these funds will be paid. (i.e. dates, 8609, carryover)




          Type of offering                                            Public                 Private
          Type of investors                                           Individuals            Corporation
          Name of Fund
          Name of Syndicator




DETERMINATION OF RESERVATION AMOUNT NEEDED                                                                                                         SECTION 17

The following calculation of the amount of Tax Credits needed is substantially the same as the calculation which will be made by IFA to determine, as required by
the Code, the maximum amount of Tax Credits which may be reserved/allocated/placed in service for the Project. IFA, however, at all times retains the right to
substitute such information and assumptions as are determined by IFA to be reasonable for the information and assumptions provided herein as to costs
(including Developer fees, profits, etc.), sources of funding, expected equity, etc. Accordingly, if the Project is selected by IFA for a reservation of Tax Credits and
allocation/8609, the amount of such reservation/allocation/8609 may differ significantly from the amount you compute below:


   A.     Total Project Costs (Item 13.12, 1st & 4th columns)                           48                                                                  0

   B.     Less Total Sources of Funds (except LIHTC equity Funds, from Item 15.02(D) and (F))                                                               0

   C.     Equity Gap (A-B)                                                                                                                                  0

   D.     Equity Percentage (% investor expected to pay for each dollar of LIHTC)                                                                     0.00%

   E.     Ten-Year Credit Amount Needed to Fund Gap (C÷D)                                                                                                   0

   F.     Annual Tax Credit Required to Fund the Equity Gap (E÷10)                                                                                          0

   G.     The Maximum Allowable Tax Credit Amount (from Item 13.29)                                                                               #VALUE!

   H.     The Maximum Allowable Tax Credit Amount (from Cost Cap method - Item 14.04)                                                                       0

    I.    Reservation Amount (Lesser of F, G or H)                                                                                                #VALUE!




         de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                                  Page 17
        UTILITY ALLOWANCES                                                                                           SECTION 18

18.01        Does the owner pay all utilities? (excluding telephone, internet & cable)                         Yes                No
             (If Yes, do not fill in the rest of this section.)

18.02        What source was used to determine the utility allowance for tenant paid utilities? (Exhibit 18T)

             PHA
             HUD
             Rural Development (for Rural Development financed projects only)
             Utility Company

18.03        Enter T (Tenant) or O (Owner) depending on who pays for the utility. If a T is entered, then a dollar
             amount of the cost of that utility MUST be entered in the appropriate bedroom(s) size(s). If an O is
             entered, then no dollar amount is needed.

                                            Paid by       Efficiency/
             Utility                        T or O           SRO
                                                                        1 bdrm       2 bdrm       3 bdrm        4 bdrm         5+ bdrm

             Heating
              Natural Gas
              Bottle Gas
              Electric
              Oil
             Air Conditioning
              Central
              Window
             Cooking
              Natural Gas
              Bottle Gas
              Electric
             Other Electric*
             Water Heating
              Natural Gas
              Bottle Gas
              Electric
              Oil
             Water
             Sewer
             Trash Collection
             Other (Specify)**
                           Total Paid by Tenant                     -            -            -            -             -               -

             *Specify Other Electric (such as lighting, refrigeration if applicable)



             **Specify Other (if applicable)




 de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                    Page 18
MINIMUM SET-ASIDE ELECTION                                                                                                       SECTION 19

The Developer irrevocably elects the following Minimum Set-Aside Requirement (check 19.01 or 19.02, and 19.03 if applicable):


               At least 20% of all the rental residential units in this Project are rent restricted, and are to be occupied by individuals whose
 19.01         income is 50% or less of area median income.



               At least 40% of the rental residential units in this Project are rent restricted, and are to be occupied by individuals whose
 19.02         income is 60% or less of area median income.



               In addition to the Minimum Set-Aside Requirement checked above, the Project will also meet the deep rent skewing option as
               defined in Section 142(d)(4) of the Code (15% of the units occupied by individuals whose income is 40% or less of area
 19.03         median income).


 19.04 Will the rents for 100% of the low-income units be set at or below 100% of the Fair Market Rents for
       the county(ies) in which the property(ies) are located as established annually by HUD? (See Appendix                    Yes             No
       C for HUD Fair Market Rents Link)




         de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                                 Page 19
LOW-INCOME OCCUPANCY                                                                                         SECTION 20
Note: Each recipient of an allocation of Tax Credits will be required to record a Regulatory Agreement as required by
the Code, governing the use of the Project for Low-Income housing for at least 30 years. However, the Code
provides that, in certain circumstances, such extended use period may be terminated. This Regulatory Agreement is
for Low-Income Units as listed under Section 4.15.


20.01   Ownership Entity waives its right to a qualified contract and agrees to maintain the duration of   Yes        No
        low-income use for a minimum of 30 years. (The Ownership Entity agrees that the
        provisions of IRC 42(h)(6)(E)(i)(II) and 42(h)(6)(F) - which provisions would permit the
        Ownership Entity to terminate the restrictions under this agreement at the end of the
        Compliance Period in the event that IFA does not present the Ownership Entity with a
        qualified contract for the acquisition of the Project - do not apply to the Project. Section 42
        income and rental restrictions shall apply for a period of 30 years beginning with the first day
        of the Compliance Period.)




        de8c4ed1-8393-445e-b973-2a8d39750db3.xls                                                                 Page 20
                                                                               Escalating Factors:                                               Vacancy:                        Vacancy:
15-YEAR CASH FLOW PROFORMA                                                           Income:                      Expenses:                     (9% Credits)                    (4% Credits)


                                                                                   Year              Year           Year           Year          Year             Year           Year           Year          Year          Year          Year          Year          Year          Year          Year
Income:                                              (Explain, if necessary)        1                 2              3              4             5                6              7              8             9             10            11            12            13            14            15
Gross Rental Income                                                                         0                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Laundry Income                                                                                               0                0             0             0                0              0              0             0             0             0             0             0             0             0
Other Income (Specify)                                                                                       0                0             0             0                0              0              0             0             0             0             0             0             0             0
Other Income (Specify)                                                                                       0                0             0             0                0              0              0             0             0             0             0             0             0             0
Less Vacancy                                                                                0                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Net Rental Income                                                                           0                0                0             0             0                0              0              0             0             0             0             0             0             0             0

Operating Expenses:                                  (Explain, if necessary)
Accounting and Auditing                                                                                      0                0             0             0                0              0              0             0             0             0             0             0             0             0
Investor Service Fees (Fill in manually)
Advertising                                                                                                  0                0             0             0                0              0              0             0             0             0             0             0             0             0
Office Expenses/On-site Mgr Salaries                                                                         0                0             0             0                0              0              0             0             0             0             0             0             0             0
Property Mgmt fee (Using Income Escalator)                                                                   0                0             0             0                0              0              0             0             0             0             0             0             0             0
Electric and Gas                                                                                             0                0             0             0                0              0              0             0             0             0             0             0             0             0
Water and Sewer                                                                                              0                0             0             0                0              0              0             0             0             0             0             0             0             0
Waste Removal                                                                                                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Maintenance payroll                                                                                          0                0             0             0                0              0              0             0             0             0             0             0             0             0
Repairs and Maintenance                                                                                      0                0             0             0                0              0              0             0             0             0             0             0             0             0
Decorating                                                                                                   0                0             0             0                0              0              0             0             0             0             0             0             0             0
Elevator Maintenance                                                                                         0                0             0             0                0              0              0             0             0             0             0             0             0             0
Grounds Maintenance                                                                                          0                0             0             0                0              0              0             0             0             0             0             0             0             0
Snow Removal                                                                                                 0                0             0             0                0              0              0             0             0             0             0             0             0             0
Insurance                                                                                                    0                0             0             0                0              0              0             0             0             0             0             0             0             0
Other (Specify)                                                                                              0                0             0             0                0              0              0             0             0             0             0             0             0             0
Other (Specify)                                                                                              0                0             0             0                0              0              0             0             0             0             0             0             0             0
   Sub-Total Operating Expenses                                                             0                0                0             0             0                0              0              0             0             0             0             0             0             0             0

Real Estate Taxes                                                                           0                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Projected Adjustments (i.e. tax abatement)                                                  0                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Resident Pop. With Special Needs Plan ($150/low-income unit min.)                           0                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Total Operating Expenses                                                                    0                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Net Operating Income                                                                        0                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Operating Expense Ratio                                                           #DIV/0!        #DIV/0!           #DIV/0!        #DIV/0!       #DIV/0!          #DIV/0!        #DIV/0!        #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!

Reserve replacement funds                            see QAP 4.3.2                                           0                0             0             0                0              0              0             0             0             0             0             0             0             0
Mortgage Ins. Prem. (MIP)                                                                                    0                0             0             0                0              0              0             0             0             0             0             0             0             0
Adjusted N.O.I.                                                                             0                0                0             0             0                0              0              0             0             0             0             0             0             0             0

Annual Debt Service Payment                          Mortgagor
1st Mortgage
HOME                                                 IDED
HOME                                                 CITY
Other Subordinate Loans
Other Subordinate Loans
Other Subordinate Loans
Other Subordinate Loans
Total Debt Service Payments                                                                 0                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Net cash flow                                                                               0                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Debt Service Ratio: 1st Mortgage                                                          N/A               N/A            N/A            N/A           N/A               N/A           N/A            N/A           N/A           N/A           N/A           N/A           N/A           N/A           N/A
Debt Service Ratio: All Debt                                                              N/A               N/A            N/A            N/A           N/A               N/A           N/A            N/A           N/A           N/A           N/A           N/A           N/A           N/A           N/A

Other Considerations
Deferred Developer Fee                                                                      0                0                0             0             0                0              0              0             0             0             0             0             0             0             0
Net Cash Flow After Other Considerations                                                    0                0                0             0             0                0              0              0             0             0             0             0             0             0             0




       2009 Round-Proforma                                                                                                                                Page 28 of 39
                                                                Escalating Factors:                                 Vacancy:                   Vacancy:
15-YEAR CASH FLOW PROFORMA                                            Income:                Expenses:             (9% Credits)               (4% Credits)




UNDERWRITING STANDARDS: AUTOMATED CHECKS AGAINST QAP REQUIREMENTS


Income Escalator (QAP Section 4.1.1)
Expense Escalator (QAP Section 4.1.1)
Minimum Spread (QAP Section 4.1.1)
Vacancy Rate -9% credits (QAP Section 4.1.2)
Vacancy Rate -4% credits (QAP Section 10.1.2)


                                                                     Year             Year     Year       Year      Year             Year      Year           Year      Year      Year      Year      Year      Year      Year      Year
                                                                      1                2        3          4         5                6         7              8         9         10        11        12        13        14        15



Underwriting Standards:
Debt Service Ratio Error Explanation (QAP Section 4.1.3)             N/A              N/A       N/A       N/A        N/A             N/A        N/A           N/A       N/A       N/A       N/A       N/A       N/A       N/A       N/A



Underwriting Standards:
Net Cash Flow Error Explanation (QAP Section 4.1.4)                  OK               OK        OK        OK         OK               OK        OK            OK        OK        OK        OK        OK        OK        OK        OK



Operating Expenses
Housing for Older Persons (QAP Section 4.2.1)                       #DIV/0!       #DIV/0!     #DIV/0!    #DIV/0!   #DIV/0!          #DIV/0!   #DIV/0!        #DIV/0!   #DIV/0!   #DIV/0!   #DIV/0!   #DIV/0!   #DIV/0!   #DIV/0!   #DIV/0!



Operating Expenses:
Housing for Families (QAP Section 4.2.2)                             N/A              N/A       N/A       N/A        N/A             N/A        N/A           N/A       N/A       N/A       N/A       N/A       N/A       N/A       N/A




       2009 Round-Proforma                                                                                                   Page 29 of 39
                                               IFA PROFORMA
                               15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                                     First Mortgage



             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning           Annual Debt           Interest      Principal   Ending
      Year         Balance            Service Pymt          Payment       Payment     Balance

       1

       2

       3

       4

       5

       6

       7

       8

       9

       10

       11

       12

       13

       14

       15




de8c4ed1-8393-445e-b973-2a8d39750db3.xls       Proforma -Loan Schedules                     30 of 39
                                               IFA PROFORMA
                               15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                                     HOME Loan

                                                         IDED

             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning           Annual Debt                                              Ending
      Year         Balance            Service Pymt      Interest Payment   Principal Payment   Balance

       1

       2

       3

       4

       5

       6

       7

       8

       9

       10

       11

       12

       13

       14

       15




de8c4ed1-8393-445e-b973-2a8d39750db3.xls       Proforma -Loan Schedules                              31 of 39
                                               IFA PROFORMA
                               15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                                     HOME Loan

                                                          CITY

             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning           Annual Debt                                              Ending
      Year         Balance            Service Pymt      Interest Payment   Principal Payment   Balance

       1

       2

       3

       4

       5

       6

       7

       8

       9

       10

       11

       12

       13

       14

       15




de8c4ed1-8393-445e-b973-2a8d39750db3.xls       Proforma -Loan Schedules                              32 of 39
                                               IFA PROFORMA
                               15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                              Subordinate Financing



             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning           Annual Debt                                              Ending
      Year         Balance            Service Pymt      Interest Payment   Principal Payment   Balance

       1

       2

       3

       4

       5

       6

       7

       8

       9

       10

       11

       12

       13

       14

 #     15




de8c4ed1-8393-445e-b973-2a8d39750db3.xls       Proforma -Loan Schedules                              33 of 39
                                               IFA PROFORMA
                               15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                              Subordinate Financing



             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning           Annual Debt                                              Ending
      Year         Balance            Service Pymt      Interest Payment   Principal Payment   Balance

       1

       2

       3

       4

       5

       6

       7

       8

       9

       10

       11

       12

       13

       14

 #     15




de8c4ed1-8393-445e-b973-2a8d39750db3.xls       Proforma -Loan Schedules                              34 of 39
                                               IFA PROFORMA
                               15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                              Subordinate Financing



             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning           Annual Debt                                              Ending
      Year         Balance            Service Pymt      Interest Payment   Principal Payment   Balance

       1

       2

       3

       4

       5

       6

       7

       8

       9

       10

       11

       12

       13

       14

 #     15




de8c4ed1-8393-445e-b973-2a8d39750db3.xls       Proforma -Loan Schedules                              35 of 39
                                               IFA PROFORMA
                               15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                              Subordinate Financing



             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning           Annual Debt                                              Ending
      Year         Balance            Service Pymt      Interest Payment   Principal Payment   Balance

       1

       2

       3

       4

       5

       6

       7

       8

       9

       10

       11

       12

       13

       14

 #     15




de8c4ed1-8393-445e-b973-2a8d39750db3.xls       Proforma -Loan Schedules                              36 of 39
                                                            IFA PROFORMA


                                        15-Year Projected Property Tax Payment Schedule



Enter the PROJECTED amount of the real estate tax payment you anticipate will be assessed against the property.


                            Amount of        Escalating                                                Amount of      Escalating
Year     Tax Amount          Change            Factor                     Year            Tax Amount    Change          Factor

  1
  2                                                                         9
  3                                                                        10
  4                                                                        11
  5                                                                        12
  6                                                                        13
  7                                                                        14
  8                                                                        15


 Property taxes can not decline over the 15-year period. Please provide an explanation for any unusual or significant change in
the calculated escalating factor. Include any discussion you have had with your assessor regarding your calculation method.

Explanation:




  de8c4ed1-8393-445e-b973-2a8d39750db3.xls                Proforma -RE Tax & Adjust Sch                                    37 of 39
                                                           IFA PROFORMA


                                                 15-Year Projected Adjustments



    Enter an amount for each year, if applicable, if not, enter zero, or leave blank.


              Amount of         Amount of          % of                              Amount of    Amount of      % of
     Year     Adjustment         Change           Change                 Year        Adjustment    Change       Change

      1
      2                                                                   9
      3                                                                   10
      4                                                                   11
      5                                                                   12
      6                                                                   13
      7                                                                   14
      8                                                                   15


    Please provide an explanation as the nature (i.e. property tax abatement) of the adjustments being made for each year
    and the rationale used determine each year's amount.

    Explanation:




de8c4ed1-8393-445e-b973-2a8d39750db3.xls             Proforma -RE Tax & Adjust Sch                                    38 of 39
                                                               IFA PROFORMA


                                                         Deferred Developer Fees



               Enter an amount for each year, if applicable, if not, enter zero, or leave blank.


                        Amount of                             Amount of                            Amount of
               Year     Adjustment                Year        Adjustment                Year       Adjustment

                 1                                 6                                    11
                 2                                 7                                    12
                 3                                 8                                    13
                 4                                 9                                    14
                 5                                 10                                   15




                                                 Total Deferred Developer Fees




                                                           Investor Services Fees

               Enter an amount for each year, if applicable, if not, enter zero, or leave blank.


                        Amount of                             Amount of                            Amount of
               Year     Adjustment                Year        Adjustment                Year       Adjustment

                 1                                 6                                    11
                 2                                 7                                    12
                 3                                 8                                    13
                 4                                 9                                    14
                 5                                 10                                   15




de8c4ed1-8393-445e-b973-2a8d39750db3.xls                Proforma -RE Tax & Adjust Sch                           39 of 39

								
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