Lease Contract Addendum

Document Sample
Lease Contract Addendum Powered By Docstoc
					       Georgia Department of Community Affairs                                                                                                                  Office of Affordable Housing
                                                               2010 Application Binder Tabs Checklist For: 2010-0, , County
           Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                            Included
Tab   Required Application Binder Tabs                    Required Tab Contents and Specified Order                                                                                                          in App
Nbr                                                                                                                                                                                                          Binder


      CORE QAP DOCUMENTATION
                                                          Completed Application Tabs Checklist
1 Project Overview                                        Completed Core Application (Parts I through X)
                                                          Documents from USDA indicating project is located in rural area (if applicable)
                                                          Project Narrative / Project Concept
                                                          Copy of Tax Exempt Bond Inducement Resolution, if applicable
                                                          Master Planned Community Documentation

2 Set asides                                              The partnership’s tax returns for the first and final years of credit period
         Preservation Set Aside                           IRS Forms 8609 for first and final years of credit period
                                                          Legal opinion that project will have met the Compliance Period by March 31, 2010
                                                          Replacement housing factor (RHF) funds documents
                                                          Section 515 financing documents
                                                          Project Based Section 8 contract (Original and Renewal)
                                                          HUD Section 236 decoupling documents
                                                          HUD/USDA Letter of Priority
         CHDO Set Aside                                   DCA CHDO Designation letter
                                                          Documentation that project is within CHDO service area
         Non Profit Set Aside                             IRS Tax-Exempt Status Determination Letter
                                                          Secretary of State Certification of Nonprofit Status
                                                          By-laws of non profit
                                                          Legal Opinion regarding nonprofit tax-exempt status
                                                          Documentation of ALL Nonprofit's ownership interest
                                                          Board of Directors information: name, address, phone, occupation, positions

3 Project Participants                                    Copies of Performance Workbook for all project participants
                                                          Copies of DCA experience determinations/Waivers
                                                          Probationary participation approval
                                                          Explanation documentation, if applicable
                                                          Detailed statements and dates of all governmental debarments/ suspensions, criminal convictions, indictments, bankruptcies and pending criminal
                                                          investigations of all Owners and Developers.
                                                          General Partner Organization Documents Including Operating Agreement
                                                          Developer Organization Documents
                                                          Partnership or Consulting Agreement Between Inexperienced and Experienced Entities, if applies (must have training plan)




       e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March 2010                             Application Tabs Checklist                                                                              1 of 61
       Georgia Department of Community Affairs                                                                                                                  Office of Affordable Housing
                                                              2010 Application Binder Tabs Checklist For: 2010-0, , County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                Included
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                                               in App
Nbr                                                                                                                                                                                              Binder
4 Waivers/Preapprovals (Non financial)                   Architectural Standards Waiver
                                                         Amenities Waiver
                                                         Tenancy Characteristic Waiver Approval
      THRESHOLD DOCUMENTATION
5 Financing Commitments                                  Preliminary Financing Commitments - Debt, Equity, Historic Rehab Credits & Grants (if applicable)
                                                         CDBG documentation, if applicable
                                                         NSP Reservation and commitments, if applicable
                                                         AHP Commitment and loan documents, if applicable
                                                         Permanent Supportive Housing commitment
                                                         Documentation of Applicable Index Rate (for interest rates tied to an index), if applicable
                                                         DCA HOME Loan consent pursuant to the pre-application process, if applicable
                                                         Operating Subsidy Agreements, if applicable
                                                         HUD Under Consideration Letter & Lender Preliminary Commitment for HUD 221(d)3 or (d)4 Program, if applicable
                                                         HUD Invitation to Submit (submit by 7/1/09), if applicable
                                                         USDA documentation, if applicable
                                                         Tax Abatement documentation, if applicable
                                                         Evidence of PBRA Agreements, if applicable
                                                         Other Financing Commitments

6 Assumption of Existing Debt (if applicable)            Letter from Lender re: assumption of existing debt
                                                         Certification Letter
                                                         Copy of Original Promissory Note and Amendments
                                                         Copy of Original Loan Agreement and Amendments
                                                         Copy of Original Security Instruments

7 Operating Utility Allowance (UA)                       Current utility allowance schedule from applicable utility provider to be used by project

8 Additional Feasibility documents                       Documentation back up for construction costs, insurance and taxes
                                                         DCA Operating expense waiver approval

9 Market Feasibility                                     Market Study for proposed site
                                                         Applicant Sel-score form for Market

10 Appraisal                                             Applicant Commissioned Appraisal (if applicable)




       e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March 2010                             Application Tabs Checklist                                                                   2 of 61
       Georgia Department of Community Affairs                                                                                                                       Office of Affordable Housing
                                                              2010 Application Binder Tabs Checklist For: 2010-0, , County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                   Included
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                                                                  in App
Nbr                                                                                                                                                                                                                 Binder
11 Environmental Requirements                            Phase I Environmental Study (including all appendices in the format prescribed in the Environmental Manual)
                                                         Phase II Environmental Study (if applicable)

12 Site Control                                          Executed Warranty Deed, Sales Option Contract or long-term ground lease
                                                         HOME Contract Addendum (If applicable)/or right to withdraw
                                                         Legal Description of Property

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

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

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

16 Physical Needs Assessment                             Physical Needs Assessment
   (Rehab projects)                                      Resume of individual or company
                                                         Three letters of recommendation ( at least one from should be from a Real Estate development or construction firm)
                                                         Terms of Reference form
                                                         Systems and Condition forms:
                                                              Site
                                                              Architectural
                                                              Dwelling unit
                                                              Mechanical and Electrical
                                                         Immediate Physical Needs
                                                         Capital Reserve Statement
                                                         Scope of Work
                                                         Construction Budget




       e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March 2010                             Application Tabs Checklist                                                                                      3 of 61
       Georgia Department of Community Affairs                                                                                                                    Office of Affordable Housing
                                                              2010 Application Binder Tabs Checklist For: 2010-0, , County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                              Included
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                                                             in App
Nbr                                                                                                                                                                                                            Binder
17 Site Info and Development Plan                        Location and Vicinity Map (all parcels for a scattered site must be indicated)
   (All Projects New AND Rehab)                          Conceptual Site Development Plan of the property
                                                         Site Maps & Photographs (photos must be color in all copies)
                                                         Aerial Photos of proposed site

18 Additional HOME/HUD Requirements                      Site & Neighborhood Standards documentation
                                                         US Census Tract documentation
                                                         Certification for Contracts, Loans and Cooperative Agreements
                                                         Disclosure of Lobbying Activities
                                                         Applicant / Recipient Disclosure / Update Report
                                                         MBE / WBE Outreach Plan Guide form
                                                         Affirmative Fair Housing Marketing Plan
19 Required Legal Opinions                               Legal Opinion for Assisted Living (as applicable)
                                                         LIHTC Legal Opinion as to Project Qualification for Acquisition Credits
                                                         Accessibility exemption Legal Opinion (if applicable)
                                                         other legal

20 Relocation (if applicable)                            Relocation Displacement Spreadsheet
                                                         Detailed Project-Specific Displacement/Relocation Plan and Budget
                                                         Temporary Relocation Cost Estimate
                                                         General Info Notice for Occupants at Time of App / Proof of Delivery
                                                         Occupancy History
                                                         Site Map of Property
                                                         Tenant Household Data Forms
                                                         Site Relocation Survey

21 Special Needs Projects                                Marketing Plan outlining how the project will market units to tenants with special needs
                                                         Description of access to supportive services, transportation, and community amenities
                                                         Identify service providers that can provide referrals to the project
                                                         Agreement to require management to regularly contact local service provider

      SCORING DOCUMENTATION
22 Desirable / Undesirable Characteristics               Desirable/Undesirable Form
                                                         A site map indicating the specific locations of each desirable and undesirable activity/ characteristics
                                                         Photographs of the desirable and undesirable activities/characteristics
                                                         Documentation from the owner of the site on which the undesirable condition exists or from a third party government source documenting how such
                                                         change will occur and the time frame
                                                         Documentation that evidences the desirable activity/characteristic that will be located in sites under construction



       e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March 2010                             Application Tabs Checklist                                                                                 4 of 61
       Georgia Department of Community Affairs                                                                                                                       Office of Affordable Housing
                                                              2010 Application Binder Tabs Checklist For: 2010-0, , County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                   Included
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                                                                  in App
Nbr                                                                                                                                                                                                                 Binder
23 Infill / Rural Smart Growth                           Documentation that the Applicant has site control over all parcels set out in a Phased project
                                                         Aerial photos of the proposed site per architectural submittal instructions
                                                         Documentation of an established park or green space area, if applicable

24 Community Transportation                              Map showing the location of the Rapid Rail Transit station in relation to the proposed development site

25 Adaptive Re-Use                                       Documentation on the previous use of the building
                                                         Photographs of the building that will be adapted
                                                         Documentation of whether or not it is occupied
                                                         Narrative of Reuse

26 Brownfield                                            Evidence of designation as a Brownfield site
                                                         An opinion letter from either an attorney or a PE that the property appears to meet the requirements for issuance of an EPD Letter of No Further Action

                                                         Proposed scope of work for clean up of a site
                                                         Detailed budget for clean up
                                                         Time line for clean up of the site

27 Sustainable Communities Certification                 Draft scoring sheet for the development and master site plan for the development
                                                         Copy of an executed EarthCraft Communities Memorandum of Participation for the development the project is locating within or LEED-ND registration
                                                         for the larger development from US Green Building Council

28 Sustainable Building Certification                    Scoring worksheets for the applicable program showing the intended path towards certification and minimum score

29 HOPE VI Initiatives                                   (A) A copy of the HOPE VI Revitalization Grant Assistance Award (form HUD-1044)
                                                         (B) A certification letter from the Executive Director of the identified PHA
                                                         (C) A copy of the HUD approved Revitalization Plan.

30 Neighborhood Stabilization                            Pictures of proposed site site and surrounding area
                                                         Copy of Foreclosure documents, if applicable
                                                         Evidence from the mortgage lender and/or tax authority that payments have been delinquent for 90 days and that foreclosure proceedings have been
                                                         initiated, if “abandoned”
                                                         A letter from the chief operating officer of the local government certifying that the redevelopment of the property will assist in stabilizing the
                                                         neighborhood
                                                         Narrative of how the project promotes the purposes of the Neighborhood Stabilization
        Greyfield                                        Documentation of current use of the vacant or abandoned center
                                                         90% of square footage documentation
                                                         Documentation of associated parking areas




       e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March 2010                            Application Tabs Checklist                                                                                      5 of 61
       Georgia Department of Community Affairs                                                                                                                                 Office of Affordable Housing
                                                                  2010 Application Binder Tabs Checklist For: 2010-0, , County
           Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
   This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
                Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                                Included
Tab   Required Application Binder Tabs                      Required Tab Contents and Specified Order                                                                                                                            in App
Nbr                                                                                                                                                                                                                              Binder
31 Redevelopment Plans / QCT                                Copy of the Plan
                                                            Website address where information regarding the plan can be located
                                                            Evidence of plan adoption
                                                            Documentation of Public Hearing and Publication if required by statute
                                                            Copy of Resolution adopting the state enterprise zone
                                                            Documentation evidencing that the proposed site is located in a QCT/DDA
                                                            The DCA Neighborhood Redevelopment Certification Form
                                                            Narrative and documentation of the process the government used for developing and adopting the plan.
                                                            Details regarding community input and public hearings held prior to the adoption of the plan must be included in the Application
                                                            Map of area targeted by plan identifying location of project
32 Stable Communitities                                     FFIEC Census Report showing demographics, income and housing statistics
33 Tenant Ownership                                         Copy of plan
34 Historic Designation                                     Documentation of project site listed in the National Register of Historic Places
                                                            Documentation of buildings on the project site are located either in a "registered historic district" or in potentially eligible district, including a State SHPO
                                                            nomination letter/approval

35 Resolution of Support                                    Resolution of Support
                                                            Evidence of Adoption of Resolution
                                                            Letter from elected official in the DCA format
                                                            Charter (if applicable)
                                                            Letter executed by Official Representative
36 DCA Community Initiatives                                Letter from Chief Officer
                                                            Copy of Community Plan
37 DCA Optional Points for Superior Project Concept Narrative, not more than two pages, along with supporting documentation
38 3rd Party Investment in Offsite Amenities                Commitment of Funds
                                                            Detailed Source of Funds
                                                            Amount of Investment
                                                            Timeline for Completion
                                                            Description and location of improvements on site map
                                                            Narrative that includes benefit specific to the tenant base
39 Other
        (Provide name of each item and what section it is
        needed for)
                 Note: Additional Forms and Documentation required for the 2010 Application Submittal may be obtained on the DCA website at
                                     http://www.dca.state.ga.us/housing/HousingDevelopment/programs/QAP2010docs.asp

       e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March 2010                                 Application Tabs Checklist                                                                                             6 of 61
       Georgia Department of Community Affairs                                          2010 Funding Application                                                         Office of Affordable Housing
                                                                         PART ONE - PROJECT INFORMATION - 2010-0 , , County

Please note:                           Blue-shaded cells are unlocked for your use and do not contain references/formulas.                                                           DCA Use Only - Project Nbr:
                                       Green-shaded cells are unlocked for your use and do contain references/formulas that can be overwritten.                                                 2010-0

I.        DCA RESOURCES                              LIHTC (auto-filled based on later entries)                            #DIV/0!
                                                     DCA HOME (amount from Consent Form)                           $                         -

II.       TYPE OF APPLICATION                                                                             Other:
III.      APPLICANT CONTACT FOR APPLICATION REVIEW
          Name                                                                                                                                             Title
          Address                                                                                                                                          Direct Line
          City                                                                                                                                             Fax
          State                                                                                      Zip+4                                                 Cellular
          Office Phone                                                                                Ext.                        E-mail
          (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)

IV.       PROJECT LOCATION
          Project Name                                                                                                                                     Phased Project?
          Site Street Address                                                                                                                              Scattered Site?
          City                                                                                Zip+4 *                                                      Acreage
          Within City Limits?                                                                 County                                                       Census Tract #
          In USDA Rural Area?                                                     HUD MSA/NonMSA name                                                      QCT?                                  DDA?
                                                           Congressional *                 State Senate                State House
          Legislative Districts
          If on boundary, other district:
          Political Jurisdiction
          Name of Chief Elected Official                                                                                             Title
          Address                                                                                                                    City
          Zip+4                                                                       Phone                                                       Fax
V.        PROJECT DESCRIPTION                                                                                                 * Must be verified by applicant using following websites:
        A. Mixed Use                                                                                                          Zip Codes                     http://zip4.usps.com/zip4/welcome.jsp
        B. Type of Construction:                                                                                              (Must verify zip codes for project site, Ownership Entity, and Managing GP)
           New Construction
           Adaptive Reuse                                                                                                     Congressional Districts:http://www.govtrack.us/congress/findyourreps.xpd
           Acquisition/Rehab                                                                                                  (Must verify congressional districts for project site, Ownership Entity HQ, and Managing GP HQ)
           Substantial Rehab
           Historic Rehab

       e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                       Part I-Project Information                                                                                    7 of 61
        Georgia Department of Community Affairs                                    2010 Funding Application                                                     Office of Affordable Housing
                                                                       PART ONE - PROJECT INFORMATION - 2010-0 , , County

         C. Unit Breakdown                                                                     # of PBRA               D. Unit Area
            Number of Low Income Units                                                            Units                   Total Low Income Residential Square Footage
                         Number of 50% Units
                         Number of 60% Units
            Number of Unrestricted Units                                                                                 Total Unrestricted Residential Square Footage
            Total Residential Units                                                                                      Total Residential Square Footage
            Common Space Units                                                                                           Total Common Space Square Footage from Units
            Total Units                                                                                                  Total Square Footage from Units
         E. Buildings   Number of Residential Buildings                                                                  Non-Residential SF from Units (Common Space)
                        Number of Non-Residential Buildings                                                              Non-Residential SF NOT from Units (Common Space)
                        Total Number of Buildings                                                                        Total Non-Residential Square Footage
         F. Total Residential Parking Spaces (min 1.5 per unit)

VI.        TENANCY CHARACTERISTICS
         A. Family or Senior                                                                                             If Other, specify:
         B. Mobility Impaired                        Nbr of Units Equipped:                                              % of Total Units
         C. Sight / Hearing Impaired                 Nbr of Units Equipped:                                              % of Total Units
         D. Special Needs Units                                   Nbr of Units:                                          % of Total Units

VII.       RENT AND INCOME ELECTIONS
         A. Tax Credit Election                                                     40% of Units at 60% of AMI
         B. DCA HOME Projects Minimum Set-Aside Requirement (Rent & Income)                                                20% of HOME-Assisted Units at 50% of AMI

VIII.      SET ASIDES
         A. Competitive Round Set-Aside(s):                                                  Nonprofit                                   Rural                                  CHDO
                                                                                             Preservation                                Special Needs
         B. Other (non-Competitive)                                                          Supplemental                                HOPE VI

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



        e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                  Part I-Project Information                                                                   8 of 61
      Georgia Department of Community Affairs                                       2010 Funding Application                                               Office of Affordable Housing
                                                                      PART ONE - PROJECT INFORMATION - 2010-0 , , County

X.        AWARD LIMITATIONS FOR CURRENT DCA COMPETITIVE ROUND
          The following sections apply to all direct and indirect Owners, Developers and Consultants (Entity and Principal) :
       A. Number of Applications Submitted:
       B. Amount of Federal Tax Credits in All Applications:
       C. Names of Projects in which an Owner, Developer and Consultant(s) and each of its principals has a direct or indirect Ownership interest:
          Project Participant                Name of Project                                   Project Participant                    Name of Project
          1                                                                                               8
          2                                                                                               9
          3                                                                                               10
          4                                                                                               11
          5                                                                                               12
          6                                                                                               13
          7                                                                                               14

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

XI.       PRESERVATION
       A. Subsequent Allocation
          Year of Original Allocation
          Original GHFA/DCA Project Number
          First Year of Credit Period                                                                                  First Building ID Nbr in Project               GA-
          Expiring Tax Credit (15 Year)                                                                                Last Building ID Nbr in Project                GA-
          Date all buildings will complete 15 yr Compliance pd
       B. Expiring Section 8
       C. Expiring HUD or USDA
          HUD funded affordable nonpublic housing project                                                              HUD funded affordable public housing project
          USDA funded affordable nonpublic housing project

      e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                  Part I-Project Information                                                               9 of 61
       Georgia Department of Community Affairs                                    2010 Funding Application                                                  Office of Affordable Housing
                                                                    PART ONE - PROJECT INFORMATION - 2010-0 , , County

XII.     ADDITIONAL PROJECT INFORMATION
      A. PHA Units
         Is proposed project part of a local public housing replacement program?
         Number of Public Housing Units reserved and rented to public housing tenants:                                            % of Total Residential Units
         Nbr of Units Reserved and Rented to PHA Tenants w/ PBRA or Households on Waiting List:                                   % of Total Residential Units
         Local PHA                                                                                                                Contact
         Street Address                                                                                                           Email
         City                                                                          Zip+4                                      Direct line
         Area Code / Phone                                                       Fax                                              Cellular
      B. Is there currently an Extention of Cancellation Option?                                   If yes, expiration year:                        Nbr yrs to forgo cancellation option:
      C. Is there a Tenant Ownership Plan?
      D. Is the Project Currently Occupied?
         Total Existing Units
         Number Occupied
         % Existing Occupied
      E. Waivers / Pre-Approvals - have the following waivers / pre-approvals been approved by DCA?
         Operating Expense?                                                                     ---------------------------> If Yes, new Limit is:
         Amenities?                                                                                                               Other Tenancy?
         Architectural Standards?                                                                                                 Probationary Experience Participation?
         Experience: Owner?                          Developer?               Manager?                                            Service Requirement (for small rural projects)
         HOME Consent?                                                                                                            Payment & Performance Bond?
         Other (specify waiver):
      F. Projected Place-In-Service Date
         Acquisition
         Rehab
         New Construction
XIII.    APPLICANT COMMENTS AND CLARIFICATIONS                                                                    XV.             DCA COMMENTS - DCA USE ONLY




       e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                Part I-Project Information                                                                          10 of 61
     Georgia Department of Community Affairs                                         2010 Funding Application                                                   Office of Affordable Housing
                                                             PART TWO - DEVELOPMENT TEAM INFORMATION - 2010-0 , , County

I.    OWNERSHIP INFORMATION

      A. OWNERSHIP ENTITY                           (Enter name as it will appear on all legal documents)                                       Name of Principal
             Office Street Address                                                                                                              Title of Principal
             City                                                                         Fed Tax ID:                                           Direct line
             State                                                Zip+4 *                               HQ Congressional District *             Cellular
             10-Digit Office Phone / Ext.                                                       Fax                                      E-mail
               (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)           * Must be verified by applicant using following websites:
      B. PROPOSED PARTNERSHIP INFORMATION                                                               Zip Codes                               http://zip4.usps.com/zip4/welcome.jsp
         1. GENERAL PARTNER(S)                                                                          Congressional Districts:                http://www.govtrack.us/congress/findyourreps.xpd
            a. Managing Gen'l Partner                                                                                                           Name of Principal
               Office Street Address                                                                                                            Title of Principal
               City                                                                                                                             Direct line
               State                                              Zip+4 *                               HQ Congressional District *             Cellular
               10-Digit Office Phone / Ext.                                                     Fax                                    E-mail
            b. Other General Partner                                                                                                            Name of Principal
               Office Street Address                                                                                                            Title of Principal
               City                                                                                                                             Direct line
               State                                               Zip+4                                                                        Cellular
               10-Digit Office Phone / Ext.                                                     Fax                                    E-mail
            c. Other General Partner                                                                                                            Name of Principal
               Office Street Address                                                                                                            Title of Principal
               City                                                                                                                             Direct line
               State                                               Zip+4                                                                        Cellular
               10-Digit Office Phone / Ext.                                                     Fax                                    E-mail
         2. LIMITED PARTNERS (PROPOSED OR ACTUAL)
            a. Federal Limited Partner                                                                                                          Name of Principal
               Office Street Address                                                                                                            Title of Principal
               City                                                                                                                             Direct line
               State                                               Zip+4                                                                        Cellular
               10-Digit Office Phone / Ext.                                                     Fax                                    E-mail
            b. State Limited Partner                                                                                                            Name of Principal
               Office Street Address                                                                                                            Title of Principal
               City                                                                                                                             Direct line
               State                                               Zip+4                                                                        Cellular
               10-Digit Office Phone / Ext.                                                     Fax                                    E-mail



     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                  Part II-Development Team                                                                             11 of 61
 Georgia Department of Community Affairs                             2010 Funding Application                                         Office of Affordable Housing
                                                    PART TWO - DEVELOPMENT TEAM INFORMATION - 2010-0 , , County

      3. NONPROFIT SPONSOR
            Nonprofit Sponsor                                                                                          Name of Principal
            Office Street Address                                                                                      Title of Principal
            City                                                                                                       Direct line
            State                                       Zip+4                                                          Cellular
            10-Digit Office Phone / Ext.                                     Fax                              E-mail

II. DEVELOPER(S)

   A. DEVELOPER                                                                                                        Name of Principal
           Office Street Address                                                                                       Title of Principal
           City                                                                                                        Direct line
           State                                        Zip+4                                                          Cellular
           10-Digit Office Phone / Ext.                                      Fax                              E-mail
   B. CO-DEVELOPER 1                                                                                                   Name of Principal
           Office Street Address                                                                                       Title of Principal
           City                                                                                                        Direct line
           State                                        Zip+4                                                          Cellular
           10-Digit Office Phone / Ext.                                      Fax                              E-mail
   C. CO-DEVELOPER 2                                                                                                   Name of Principal
           Office Street Address                                                                                       Title of Principal
           City                                                                                                        Direct line
           State                                        Zip+4                                                          Cellular
           10-Digit Office Phone / Ext.                                      Fax                              E-mail
   D. DEVELOPMENT CONSULTANT                                                                                           Name of Principal
           Office Street Address                                                                                       Title of Principal
           City                                                                                                        Direct line
           State                                        Zip+4                                                          Cellular
           10-Digit Office Phone / Ext.                                      Fax                              E-mail




 e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                      Part II-Development Team                                                            12 of 61
 Georgia Department of Community Affairs                             2010 Funding Application                                         Office of Affordable Housing
                                                    PART TWO - DEVELOPMENT TEAM INFORMATION - 2010-0 , , County

III. OTHER PROJECT TEAM MEMBERS

   A. OWNERSHIP CONSULTANT                                                                                             Name of Principal
          Office Street Address                                                                                        Title of Principal
          City                                                                                                         Direct line
          State                                         Zip+4                                                          Cellular
          10-Digit Office Phone / Ext.                                       Fax                              E-mail
   B. GENERAL CONTRACTOR                                                                                               Name of Principal
          Office Street Address                                                                                        Title of Principal
          City                                                                                                         Direct line
          State                                         Zip+4                                                          Cellular
          10-Digit Office Phone / Ext.                                       Fax                              E-mail
   C. MANAGEMENT COMPANY                                                                                               Name of Principal
          Office Street Address                                                                                        Title of Principal
          City                                                                                                         Direct line
          State                                         Zip+4                                                          Cellular
          10-Digit Office Phone / Ext.                                       Fax                              E-mail
   D. ATTORNEY                                                                                                         Name of Principal
          Office Street Address                                                                                        Title of Principal
          City                                                                                                         Direct line
          State                                         Zip+4                                                          Cellular
          10-Digit Office Phone / Ext.                                       Fax                              E-mail
   E. ACCOUNTANT                                                                                                       Name of Principal
          Office Street Address                                                                                        Title of Principal
          City                                                                                                         Direct line
          State                                         Zip+4                                                          Cellular
          10-Digit Office Phone / Ext.                                       Fax                              E-mail
   F. ARCHITECT                                                                                                        Name of Principal
           Office Street Address                                                                                       Title of Principal
           City                                                                                                        Direct line
           State                                        Zip+4                                                          Cellular
           10-Digit Office Phone / Ext.                                      Fax                              E-mail




 e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                      Part II-Development Team                                                            13 of 61
     Georgia Department of Community Affairs                                      2010 Funding Application                                                    Office of Affordable Housing
                                                          PART TWO - DEVELOPMENT TEAM INFORMATION - 2010-0 , , County

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


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

      Managing General Partner
      Other General Partner 1
      Other General Partner 2
      Federal Limited Partner
      State Limited Partner
      Nonprofit Sponsor
      Developer
      Co-Developer 1
      Co-Developer 2
      Owner Consultant
      Developer Consultant
      Contractor
      Management Company

V.       APPLICANT COMMENTS AND CLARIFICATIONS                                                                                  VI.           DCA COMMENTS - DCA USE ONLY




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                               Part II-Development Team                                                                          14 of 61
      Georgia Department of Community Affairs                                         2010 Funding Application                                                    Office of Affordable Housing
                                                                       PART THREE - SOURCES OF FUNDS - 2010-0 , , County


I.       GOVERNMENT FUNDING SOURCES (check all that apply)

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


II.      CONSTRUCTION FINANCING

         Financing Type                                                            Name of Financing Entity                                Amount            Effective Interest Rate    Term (In Months)
         Mortgage A
         Mortgage B
         Mortgage C
         Federal Grant
         State, Local, or Private Grant
         Deferred Developer Fees
         Federal Housing Credit Equity
         State Housing Credit Equity
         Other Type (specify)
         Other Type (specify)
         Other Type (specify)
         Total Construction Financing:                                                                                                                   0
         Total Construction Period Costs from Development Budget:                                                                                        0
         Surplus / (Shortage) of Construction funds to Construction costs:                                                                               0




      e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                   Part III A-Sources of Funds                                                                           15 of 61
       Georgia Department of Community Affairs                                2010 Funding Application                                              Office of Affordable Housing
                                                                   PART THREE - SOURCES OF FUNDS - 2010-0 , , County

III.      PERMANENT FINANCING
                                                                                                    Effective     Term       Amort.   Annual Debt Service                       Target
          Financing Type                    Name of Financing Entity         Principal Amount       Int Rate     (Years)    (Years)      in Year One           Loan Type         DCR
          N/A                               <<Select applicable option>>                        0   0.000%          0          0                               Amortizing         n/a
          Mortgage A
          Mortgage B
          Other:
          Funding Source for Costs>PUCL
          Deferred Devlpr Fee
          Federal Grant
          State, Local, or Private Grant                                                            % of TDC
          Federal Housing Credit Equity                                                              #DIV/0!                          Proposed DCA HOME Loan Interest Rate by Operating
          State Housing Credit Equity                                                                #DIV/0!                                    Year for Projects in Rural Areas:
          Historic Credit Equity                                                                     #DIV/0!                           Year:      1 -7          8            9    10
          Invstmt Earnings: T-E Bonds                                                                                                  Rate:
          Invstmt Earnings: Taxable Bonds                                                                                               11        12           13           14    15
          Income from Operations
          Other:                                                                                                                        16         17        18         19        20
          Other:
          Other:                                                                                                                        21         22        23         24        25
          Total Permanent Financing:                                                0
          Total Development Costs from Development Budget:                          0                                                   26         27        28         29        30
          Surplus/(Shortage) of Permanent funds to development costs:               0
IV.       APPLICANT COMMENTS AND CLARIFICATIONS                                                                 IV.        DCA COMMENTS - DCA USE ONLY




       e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                         Part III A-Sources of Funds                                                                  16 of 61
Georgia Department of Community Affairs                       2010 Funding Application                 Office of Affordable Housing
                                                   PART THREE - SOURCES OF FUNDS - 2010-0 , , County




e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                Part III A-Sources of Funds                                17 of 61
                               2010 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                    PART III B: USD 538 LOAN - 2010-0 , , County

                                                   I. Data Input
 Loan Amount:                                                                        $0.00                    $0.00
 Interest Rate:           USDA Spread                2.50%           (aka Interest Assistance Rate in USDA Handbook)
                          Effective Rate                             (Effective Interest Assistance Rate in USDA Handbook)
 USDA Annual Fee                                     0.50%           (per annum)
 Loan Term (yrs)
 Amortization Pd (yrs)
 Annual P & I                                       #DIV/0!                 #DIV/0!                  #DIV/0!
 Monthly P & I                                      #DIV/0!                 #DIV/0!                  #DIV/0!

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


Georgia Department of Community Affairs         Part III B-USDA 538 Loan                                               18 of 61
                               2010 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                                    2010-0 , , County
                                              III. Amortization Schedule
         Month                   P&I Payment                 Interest        Principal   Balance       Year
          Close                                                                                $0.00
            1                             $0.00                $0.00           $0.00           $0.00
            2                             $0.00                $0.00           $0.00           $0.00
            3                             $0.00                $0.00           $0.00           $0.00
            4                             $0.00                $0.00           $0.00           $0.00
            5                             $0.00                $0.00           $0.00           $0.00
            6                             $0.00                $0.00           $0.00           $0.00
            7                             $0.00                $0.00           $0.00           $0.00
            8                             $0.00                $0.00           $0.00           $0.00
            9                             $0.00                $0.00           $0.00           $0.00
           10                             $0.00                $0.00           $0.00           $0.00
           11                             $0.00                $0.00           $0.00           $0.00
           12                             $0.00                $0.00           $0.00           $0.00     1
           13                             $0.00                $0.00           $0.00           $0.00
           14                             $0.00                $0.00           $0.00           $0.00
           15                             $0.00                $0.00           $0.00           $0.00
           16                             $0.00                $0.00           $0.00           $0.00
           17                             $0.00                $0.00           $0.00           $0.00
           18                             $0.00                $0.00           $0.00           $0.00
           19                             $0.00                $0.00           $0.00           $0.00
           20                             $0.00                $0.00           $0.00           $0.00
           21                             $0.00                $0.00           $0.00           $0.00
           22                             $0.00                $0.00           $0.00           $0.00
           23                             $0.00                $0.00           $0.00           $0.00
           24                             $0.00                $0.00           $0.00           $0.00     2
           25                             $0.00                $0.00           $0.00           $0.00
           26                             $0.00                $0.00           $0.00           $0.00
           27                             $0.00                $0.00           $0.00           $0.00
           28                             $0.00                $0.00           $0.00           $0.00
           29                             $0.00                $0.00           $0.00           $0.00
           30                             $0.00                $0.00           $0.00           $0.00
           31                             $0.00                $0.00           $0.00           $0.00
           32                             $0.00                $0.00           $0.00           $0.00
           33                             $0.00                $0.00           $0.00           $0.00
           34                             $0.00                $0.00           $0.00           $0.00
           35                             $0.00                $0.00           $0.00           $0.00
           36                             $0.00                $0.00           $0.00           $0.00     3
           37                             $0.00                $0.00           $0.00           $0.00
           38                             $0.00                $0.00           $0.00           $0.00
           39                             $0.00                $0.00           $0.00           $0.00
           40                             $0.00                $0.00           $0.00           $0.00
           41                             $0.00                $0.00           $0.00           $0.00
           42                             $0.00                $0.00           $0.00           $0.00
           43                             $0.00                $0.00           $0.00           $0.00
           44                             $0.00                $0.00           $0.00           $0.00
           45                             $0.00                $0.00           $0.00           $0.00
           46                             $0.00                $0.00           $0.00           $0.00
           47                             $0.00                $0.00           $0.00           $0.00
           48                             $0.00                $0.00           $0.00           $0.00     4




Georgia Department of Community Affairs           Part III B-USDA 538 Loan                             19 of 61
                                  2010 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
                                PART III C - HUD INSURED LOAN - 2010-0 , , County

                                                       I. Data Input

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

HUD Mortgage Insurance Premium                                                  per annum

Loan Term                                                                       years

Amortization Period                                                             years

Annual Debt Service at Effective Rate                           #DIV/0!         (Excluding MIP)

Monthly Debt Service at Effective Rate                          #DIV/0!         (Excluding MIP)




                              II. HUD Mortgage Insurance Premium / Debt Service


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




Georgia Department of Community Affairs           Part III C-HUD Insured Loan                               page 20 of 61
  Georgia Department of Community Affairs                                  2010 Funding Application                                     Office of Affordable Housing
                                                                 PART FOUR - USES OF FUNDS - 2010-0 , , County

                                                     CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

                                                                                                             New                                           Amortizable or
I. DEVELOPMENT BUDGET                                                                                                    Acquisition     Rehabilitation
                                                                                                          Construction                                    Non-Depreciable
                                                                                   TOTAL COST                              Basis            Basis
                                                                                                             Basis                                             Basis
  PRE-DEVELOPMENT COSTS                                                                                                    PRE-DEVELOPMENT COSTS
  Property Appraisal
  Market Study
  Environmental Report(s)
  Soil Borings
  Boundary and Topographical Survey
  Zoning/Site Plan Fees
  Other: <Enter detailed description here; use Comments section if needed>
  Other: <Enter detailed description here; use Comments section if needed>
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal                -                    -             -                 -                  -
  ACQUISITION                                                                                                                    ACQUISITION
  Land
  Demolition
  Acquisition Legal Fees (if existing structures)
  Existing Structures
                                                                       Subtotal                -                                   -                                   -
  SITE IMPROVEMENTS                                                                                                          SITE IMPROVEMENTS
  Site Preparation (On-site)
  Site Preparation (Off-site)
                                                                       Subtotal                -                    -              -              -                    -
  UNIT/BUILDING CONSTRUCTION*                                                                                            UNIT/BUILDING CONSTRUCTION*
  Unit/Building Construction/New Construction
  Unit/Building Construction/Rehab
  Project Amenities / Accessory Buildings
  Other: <Enter detailed description here; use Comments section if needed>
  Construction Contingency
                                                                       Subtotal                -                    -            -              -                      -
  CONTRACTOR SERVICES                                     14.00%            -                                               CONTRACTOR SERVICES
  Builder Profit:                                          6.00%            -
  General Requirements* & Builder Overhead                 8.00%            -
  Payment and Performance bonds
  Letter-of-Credit fee or premium
  *Gen'l Rqmts must not include water tap & sewer fees.                Subtotal                -                    -             -                 -                  -
  Total Construction Costs                        #DIV/0!         per unit
  0.00                                            #DIV/0!         per sq ft


  e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                Part IV-Uses of Funds                                                         21 of 61
  Georgia Department of Community Affairs                                  2010 Funding Application                                      Office of Affordable Housing
                                                                 PART FOUR - USES OF FUNDS - 2010-0 , , County

                                                       CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

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

  CONSTRUCTION PERIOD FINANCING                                                                                          CONSTRUCTION PERIOD FINANCING
  Construction Loan Fee
  Construction Loan Interest
  Construction Legal Fees
  Construction Period Real Estate Tax
  Construction Insurance
  Bridge Loan Fee and Bridge Loan Interest
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal                -                    -               -                -                  -

  PROFESSIONAL SERVICES                                                                                                     PROFESSIONAL SERVICES
  Architectural Fee - Design
  Architectural Fee - Supervision
  Engineering
  Real Estate Attorney
  Accounting
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal                -                    -               -                -                  -
  LOCAL GOVERNMENT FEES                                                                                                     LOCAL GOVERNMENT FEES
  Building Permits
  Impact Fees
  Water Tap Fees                             waived?
  Sewer Tap Fees                             waived?
                                                                      Subtotal                 -                    -               -                -                  -
  PERMANENT FINANCING FEES                                                                                                 PERMANENT FINANCING FEES
  Permanent Loan Fees
  Permanent Loan Legal Fees
  Title and Recording Fees
  As-Built Survey
  Bond Issuance Premium
  Cost of Issuance / Underwriter's Discount
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal                -                    -               -                -                  -


  e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                Part IV-Uses of Funds                                                          22 of 61
  Georgia Department of Community Affairs                                  2010 Funding Application                                     Office of Affordable Housing
                                                                 PART FOUR - USES OF FUNDS - 2010-0 , , County

                                                     CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

I. DEVELOPMENT BUDGET                                                                                        New         Acquisition    Rehabilitation    Amortizable or
                                                                                                          Construction     Basis           Basis         Non-Depreciable
                                                                                   TOTAL COST
                                                                                                             Basis                                            Basis
  DCA-RELATED COSTS                                                                                                          DCA-RELATED COSTS
  DCA HOME Loan Pre-Application Fee
  Tax Credit Application Fee
  DCA Waiver Fees
  LIHTC Allocation Processing Fee                              #DIV/0!
  LIHTC Compliance Monitoring Fee                                          -
  DCA Front End Analysis Fee (HOME, when ID of Interest)
  DCA Final Inspection Fee
  Other: <Enter detailed description here; use Comments section if needed>
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal                 -                                                                     -
  EQUITY COSTS                                                                                                                  EQUITY COSTS
  Partnership Organization Fees
  Tax Credit Legal Opinion
  Syndicator Legal Fees
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal                 -                                                                     -
  DEVELOPER'S FEE                                                                                                             DEVELOPER'S FEE
  Developer's Overhead
  Consultant's Fee
  Developer's Profit
                                                                       Subtotal                 -                   -           -               -                     -
  START-UP AND RESERVES                                                                                                   START-UP AND RESERVES
  Marketing
  Rent-Up Reserves
  Operating Deficit Reserve:
  Replacement Reserve
  Furniture, Fixtures and Equipment
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal                 -                   -            -                 -                  -
  OTHER COSTS                                                                                                                   OTHER COSTS
  Relocation
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal                 -                   -               -              -                  -
  TOTAL DEVELOPMENT COST                                                                        -                   -               -              -                  -
  Total Per Unit Cost Limitation:                0               TDC Per Unit:        #DIV/0!         TDC Per Sq Ft:      #DIV/0!


  e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                Part IV-Uses of Funds                                                        23 of 61
   Georgia Department of Community Affairs                                            2010 Funding Application                                              Office of Affordable Housing
                                                                          PART FOUR - USES OF FUNDS - 2010-0 , , County

                                                             CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
II. TAX CREDIT CALCULATION - BASIS METHOD                                                                              New
                                                                                                                                    4% Acquisition           Rehabilitation
                                                                                                                    Construction
                                                                                                                                        Basis                   Basis
   Subtractions From Eligible Basis                                                                                    Basis

   Amount of federal grant(s) used to finance qualifying development costs
   Amount of nonqualified nonrecourse financing
   Costs of Nonqualifying units of higher quality
   Nonqualifying excess portion of higher quality units
   Historic Tax Credits (Residential Portion Only)
   Other
   Total Subtractions From Basis:                                                                                        0                                           0
   Eligible Basis Calculation
   Total Basis                                                                                                           0                   0                       0
   Less Total Subtractions From Basis (see above)                                                                        0                                           0
   Total Eligible Basis                                                                                                  0                   0                       0
   Eligible Basis Adjustment (DDA/QCT Location or State Designated Boost)                    Type: <<Select>>
   Adjusted Eligible Basis                                                                                              0                   0                        0
   Multiply Adjusted Eligible Basis by Applicable Fraction                                                            #DIV/0!             #DIV/0!                  #DIV/0!
   Qualified Basis                                                                                                    #DIV/0!             #DIV/0!                  #DIV/0!
   Multiply Qualified Basis by Applicable Credit Percentage
   Maximum Tax Credit Amount                                                                                          #DIV/0!             #DIV/0!                  #DIV/0!
   Total Basis Method Tax Credit Calculation                                                                                              #DIV/0!

III. TAX CREDIT CALCULATION - GAP METHOD
     Equity Gap Calculation                                                                                                         Maximum TDC:           If Maximum TDC is exceeded, indicate
     Total Development Cost (<=DCA Wvr or PUCL; explain in Comments if TDC > PUCL w/o DCA Waiver Approval)                               0                 reason below:
     Subtract Non-Tax Credit (excluding deferred fee) Source of Funds                                                     0                                Historic Designation
     Equity Gap                                                                                                           0                                Brownfield
     Divide Equity Gap by 10                                                                                             / 10
     Annual Equity Required                                                                                               0                      Federal                 State
     Enter Final Federal and State Equity Factors (not including GP contribution)                                      0.0000         =                        +
     Total Gap Method Tax Credit Calculation                                                                           #DIV/0!

   TAX CREDIT MAXIMUM - Lower of Basis Method, Gap Method and DCA Limit:                                               #DIV/0!

IV. TAX CREDIT ALLOCATION - Credit Amount Requested (may be lower than Tax Credit Maximum above):                      #DIV/0!     #DIV/0!



   e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                         Part IV-Uses of Funds                                                                     24 of 61
   Georgia Department of Community Affairs                                                2010 Funding Application                              Office of Affordable Housing
                                                                             PART FOUR - USES OF FUNDS - 2010-0 , , County

                                                                CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                VI.   DCA COMMENTS - DCA USE ONLY
* To all applicants: please provide methodology for determining applicable construction hard costs.




   e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                             Part IV-Uses of Funds                                                 25 of 61
Georgia Department of Community Affairs                              2010 Funding Application                                            Office of Affordable Housing




                                                   PART FIVE - UTILITY ALLOWANCES - 2010-0 , , County

    I. UTILITY ALLOWANCE SCHEDULE #1                      Source of Utility Allowances
                                                          Date of Utility Allowances                                         Structure
                                                            Paid By (check one)                    Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
       Utility              Fuel                             Tenant     Owner                         0           1           2          3          4
       Heat                 <<Select Fuel >>
       Air Conditioning     Electric
       Cooking              <<Select Fuel >>
       Hot Water            <<Select Fuel >>
       Lights               Electric
       Water & Sewer        Submetered? <Select>
       Refuse Collection
       Total Utility Allowance by Unit Size                                                            0            0            0             0           0

    II. UTILITY ALLOWANCE SCHEDULE #2                     Source of Utility Allowances
                                                          Date of Utility Allowances                                         Structure
                                                            Paid By (check one)                    Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
       Utility              Fuel                             Tenant     Owner                         0           1           2          3          4
       Heat                 <<Select Fuel >>
       Air Conditioning     Electric
       Cooking              <<Select Fuel >>
       Hot Water            <<Select Fuel >>
       Lights               Electric
       Water & Sewer        Submetered? <Select>
       Refuse Collection
       Total Utility Allowance by Unit Size                                                            0            0            0             0           0

       *Elderly allowances cannot be used except at properties that have 100% HUD PBRA and satisfy the DCA definition of "elderly"
       APPLICANT COMMENTS AND CLARIFICATIONS


       DCA COMMENTS




e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                       Part V-Utility Allowances                                                         page 26 of 61
     Georgia Department of Community Affairs                                            2010 Funding Application                                                  Office of Affordable Housing
                                                                 PART SIX - PROJECTED REVENUES & EXPENSES - 2010-0 , , County

I. RENT SCHEDULE              DO NOT cut, copy or paste cells in this tab. Assign a Rent Type of "N/A-CS" to Common Space units. Do NOT include PHA operating subsidy in PBRA Source.

    HOME projects - Fixed or Floating units:
    Are 100% of units HUD PBRA?

         Rent        Nbr of    No. of    Unit           Unit   Max Gross Proposed        Utility      PBRA               Monthly Net Rent       Employee   Building      Type of
         Type        Bdrms     Baths    Count           Area   Rent Limit Gross Rent   Allowance     Provider          Per Unit     Total         Unit      Type         Activity
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
                                                                                                                             -              -
0                             TOTAL         -              -                                              MONTHLY TOTAL                     -                                               0
                                                                                                           ANNUAL TOTAL                     -




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                    Part VI-Revenues & Expenses                                                                    27 of 61
    Georgia Department of Community Affairs                                              2010 Funding Application                                        Office of Affordable Housing
                                                                PART SIX - PROJECTED REVENUES & EXPENSES - 2010-0 , , County

II. UNIT SUMMARY
   Units:                                                                   Efficiency       1BR            2BR         3BR   4BR   Total
                    Low-Income                               60% AMI              -           -              -          -     -      -      (Include manager units that are income       0
                                                                                  -           -              -          -     -      -      restricted)
NOTE TO                                                      50% AMI                                                                                                                     0
APPLICANTS: If                                               Total                -           -              -          -     -      -                                                   0
the numbers         Unrestricted                                                  -           -              -          -     -      -                                                   0
compiled in this
                    Total Residential                                             -           -              -          -     -      -                                                   0
Summary do not
                    Common Space                                                  -           -              -          -     -      -      (no rent to be charged)                      0
appear to match
what was            Total                                                         -           -              -          -     -      -                                                   0
entered in the
Rent Chart          PBRA-Assisted                            60% AMI              -           -              -          -     -      -                                                   0
above, please       (included in LI above)                   50% AMI              -           -              -          -     -      -                                                   0
verify that all                                              Total                -           -              -          -     -      -                                                   0
applicable
                    Type of Construction Activity
columns were
                                         New Construction    Low Inc              -           -              -          -     -      -                                                   0
completed in the
rows used in the                                             Unrestricted         -           -              -          -     -      -                                                   0
Rent Chart                                                   Total + CS           -           -              -          -     -      -                                                   0
above.                                   Acq/Rehab           Low Inc              -           -              -          -     -      -                                                   0
                                                             Unrestricted         -           -              -          -     -      -                                                   0
                                                             Total + CS           -           -              -          -     -      -                                                   0
                                         Substantial Rehab   Low Inc              -           -              -          -     -      -                                                   0
                                         Only
                                                             Unrestricted         -           -              -          -     -      -                                                   0
                                                             Total + CS           -           -              -          -     -      -                                                   0
                                         Adaptive Reuse                                                                              -
                                         Historic Rehab                                                                              -
                    Building Type:
                                         Multifamily                              -           -              -          -     -      -                                                   0
                                         SF Detached                              -           -              -          -     -      -                                                   0
                                         Townhome                                 -           -              -          -     -      -                                                   0
                                         Duplex                                   -           -              -          -     -      -                                                   0
                                         Manufactured home                        -           -              -          -     -      -                                                   0

   Unit Square Footage:
                 Low Income                                  60% AMI              -           -              -          -     -      -                                                   0
                                                             50% AMI              -           -              -          -     -      -                                                   0
                                                             Total                -           -              -          -     -      -                                                   0
                    Unrestricted                                                  -           -              -          -     -      -                                                   0
                    Total Residential                                             -           -              -          -     -      -                                                   0
                    Common Space                                                  -           -              -          -     -      -                                                   0
                    Total                                                         -           -              -          -     -      -                                                   0




    e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                      Part VI-Revenues & Expenses                                                                28 of 61
   Georgia Department of Community Affairs                                           2010 Funding Application                                                               Office of Affordable Housing
                                                           PART SIX - PROJECTED REVENUES & EXPENSES - 2010-0 , , County

III. ANCILLARY AND OTHER INCOME (annual amounts)

  Ancillary Income                                                           -         Laundry, vending, app fees, etc. Will be exactly 2% of potential gross income.


  Other Income (OI) by Year:

  Included in Mgt Fee:                                      1           2               3             4              5              6              7               8                  9              10
  Operating Subsidy
  Other:
                    Total OI in Mgt Fee                         -            -              -             -              -              -              -                -                 -                  -

  NOT Included in Mgt Fee:
  USDA 538 Loan Interest Credit (fill in Part III A tab)            0            0              0             0              0              0              0                 0                0                  0
  Property Tax Abatement
  Other:
                    Total OI NOT in Mgt Fee                     -            -              -             -              -              -              -                -                 -                  -




  Included in Mgt Fee:                                      11          12             13            14             15             16             17              18                 19              20
  Operating Subsidy
  Other:
                    Total OI in Mgt Fee                         -            -              -             -              -              -              -                -                 -                  -

  NOT Included in Mgt Fee:
  USDA 538 Loan Interest Credit (fill in Part III A tab)            0            0              0             0              0              0              0                 0                0                  0
  Property Tax Abatement
  Other:
                    Total OI NOT in Mgt Fee                     -            -              -             -              -              -              -                -                 -                  -




  Included in Mgt Fee:                                      21          22             23            24             25             26             27              28                 29              30
  Operating Subsidy
  Other:
                    Total OI in Mgt Fee                         -            -              -             -              -              -              -                -                 -                  -

  NOT Included in Mgt Fee:
  USDA 538 Loan Interest Credit (fill in Part III A tab)            0            0              0             0              0              0              0                 0                0                  0
  Property Tax Abatement
  Other:
                    Total OI NOT in Mgt Fee                     -            -              -             -              -              -              -                -                 -                  -




   e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                   Part VI-Revenues & Expenses                                                                                 29 of 61
      Georgia Department of Community Affairs                                                                    2010 Funding Application                                             Office of Affordable Housing
                                                                                PART SIX - PROJECTED REVENUES & EXPENSES - 2010-0 , , County

IV. ANNUAL OPERATING EXPENSE BUDGET

    On-Site Staff Costs                                                                                       On-Site Security                                          Taxes and Insurance
    Management Salaries & Benefits                                                                            Contracted Guard                                          Real Estate Taxes (Gross)*
    Maintenance Salaries & Benefits                                                                           Electronic Alarm System                                   Insurance**
    Support Services Salaries & Benefits                                                                                           Subtotal                    0        Other (describe here)
    Other (describe here)                                                                                                                                                    Subtotal                                     0
                        Subtotal                                                        0

    On-Site Office Costs                                                                                      Professional Services                                     Management Fee:                                   0
    Office Supplies & Postage                                                                                 Legal                                                         #DIV/0!       per unit per year
    Telephone                                                                                                 Accounting                                                    #DIV/0!       per unit per month
    Travel                                                                                                    Advertising
    Leased Furniture / Equipment                                                                              Other (describe here)                                     (Management Fee is from Pro Forma, Section
    Activities Supplies / Overhead Cost                                                                                            Subtotal                     0       1, Operating Assumptions)
    Other (describe here)

                        Subtotal                                                        0

    Maintenance Expenses                                                                                      Utilities                                                 TOTAL OPERATING EXPENSES
    Contracted Repairs                                                                                        Electricity                                                   #DIV/0!       per unit                        0
    General Repairs                                                                                           Natural Gas
    Grounds Maintenance                                                                                       Water & Sewer
    Extermination                                                                                             Trash Collection                                          Replacement Reserve                               0
    Maintenance Supplies                                                                                      Other (describe here)                                     Enter desired per unit amount:
    Elevator Maintenance                                                                                                           Subtotal                     0
    Redecorating
    Other (describe here)                                                                                                                                               TOTAL ANNUAL EXPENSES
                        Subtotal                                                        0                                                                                                                                 0

V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                                           VI.   DCA COMMENTS
*To all Applicants: Real estate taxes shown in Operating Budget should be prior to any tax abatement. Please provide methodology for real estate
tax calculation.



**To all Applicants: Please provide methodology for insurance calculation.




      e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                                             Part VI-Revenues & Expenses                                                                 30 of 61
  Georgia Department of Community Affairs                                      2010 Funding Application                                                               Office of Affordable Housing
                                                         PART SEVEN - OPERATING PRO FORMA - 2010-0 , , County
I. OPERATING ASSUMPTIONS                                  Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                           Asset Management Fee Amount                                               Yr 1 Asset Mgt Fee Percentage of EGI:
Expense Growth            3.00%                           Incentive Management Fee Amount                                           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           3.00%                           Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:
Vacancy & Collection Loss 7.00%                              Expense Growth Rate (3.00%)                                        --> If Yes, indicate Yr 1 Mgt Fee Amt:
Ancillary Income Limit    2.00%                              Percent of Effective Gross Income                                  --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                    1            2            3            4            5            6            7            8            9           10
Revenues                             -            -            -            -            -            -            -            -            -            -
Ancillary Income                     -            -            -            -            -            -            -            -            -            -
Vacancy                              -            -            -            -            -            -            -            -            -            -
Other Income (OI)                    -            -            -            -            -            -            -            -            -            -
OI Not Subject to Mgt Fee            -            -            -            -            -            -            -            -            -            -
Expenses less Mgt Fee                -            -            -            -            -            -            -            -            -            -
Property Mgmt                              Choose mgt fee
                              Choose mgt fee            Choose mgt fee
                                                                     Choose mgt fee
                                                                                  Choose mgt fee
                                                                                               Choose mgt fee            Choose mgt fee
                                                                                                            Choose mgt fee                         Choose mgt fee
                                                                                                                                      Choose mgt fee
Reserves                             -            -            -            -            -            -            -            -            -            -
NOI                                  -            -            -            -            -            -            -            -            -            -
D/S USDA/HUD Mortgage                -            -            -            -            -            -            -            -            -            -
                                     -            -            -            -            -            -            -            -            -            -
D/S Mortgage B                       -            -            -            -            -            -            -            -            -            -
D/S Mortgage C                       -            -            -            -            -            -            -            -            -            -
D/S Other Source                     -            -            -            -            -            -            -            -            -            -
D/S Other Source                     -            -            -            -            -            -            -            -            -            -
DCA HOME Cash Resrv.
Asset Mgmt                              -            -                -                 -                  -                 -                 -                  -                 -                     -
DDF                                     -            -                -                 -                  -                 -                 -                  -                 -                     -
Incentive Mgmt                          -            -                -                 -                  -                 -                 -                  -                 -                     -
Cash Flow                               -            -                -                 -                  -                 -                 -                  -                 -                     -
DCR First Mortgage
DCR USDA/HUD Fee
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio
Mortgage A Balance                      -            -                -                 -                  -                 -                 -                  -                 -                     -
Mortgage B Balance
Mortgage C Balance
Other Source Balance
Other Source Balance
DDF Balance


  e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                    Part VII-Pro Forma                                                                                          31 of 61
  Georgia Department of Community Affairs                                      2010 Funding Application                                                               Office of Affordable Housing
                                                         PART SEVEN - OPERATING PRO FORMA - 2010-0 , , County
I. OPERATING ASSUMPTIONS                                  Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                           Asset Management Fee Amount                                               Yr 1 Asset Mgt Fee Percentage of EGI:
Expense Growth            3.00%                           Incentive Management Fee Amount                                           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           3.00%                           Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:
Vacancy & Collection Loss 7.00%                              Expense Growth Rate (3.00%)                                        --> If Yes, indicate Yr 1 Mgt Fee Amt:
Ancillary Income Limit    2.00%                              Percent of Effective Gross Income                                  --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                   11           12           13           14           15           16           17           18           19           20
Revenues                             -            -            -            -            -            -            -            -            -            -
Ancillary Income                     -            -            -            -            -            -            -            -            -            -
Vacancy                              -            -            -            -            -            -            -            -            -            -
Other Income (OI)                    -            -            -            -            -            -            -            -            -            -
OI Not Subject to Mgt Fee            -            -            -            -            -            -            -            -            -            -
Expenses less Mgt Fee                -            -            -            -            -            -            -            -            -            -
Property Mgmt                              Choose mgt fee
                              Choose mgt fee            Choose mgt fee
                                                                     Choose mgt fee
                                                                                  Choose mgt fee
                                                                                               Choose mgt fee            Choose mgt fee
                                                                                                            Choose mgt fee                         Choose mgt fee
                                                                                                                                      Choose mgt fee
Reserves                             -            -            -            -            -            -            -            -            -            -
NOI                                  -            -            -            -            -            -            -            -            -            -
D/S USDA/HUD Mortgage                -            -            -            -            -            -            -            -            -            -
                                     -            -            -            -            -            -            -            -            -            -
D/S Mortgage B                       -            -            -            -            -            -            -            -            -            -
D/S Mortgage C                       -            -            -            -            -            -            -            -            -            -
D/S Other Source                     -            -            -            -            -            -            -            -            -            -
D/S Other Source                     -            -            -            -            -            -            -            -            -            -
DCA HOME Cash Resrv.
Asset Mgmt                              -            -                -                 -                  -                 -                 -                  -                 -                     -
DDF                                     -            -                -                 -                  -                 -                 -                  -                 -                     -
Incentive Mgmt                          -            -                -                 -                  -                 -                 -                  -                 -                     -
Cash Flow                               -            -                -                 -                  -                 -                 -                  -                 -                     -
DCR First Mortgage
DCR USDA/HUD Fee
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio
First Mortgage Balance                  -            -                -                 -                  -                 -                 -                  -                 -                     -
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance


  e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                    Part VII-Pro Forma                                                                                          32 of 61
  Georgia Department of Community Affairs                                      2010 Funding Application                                                               Office of Affordable Housing
                                                         PART SEVEN - OPERATING PRO FORMA - 2010-0 , , County
I. OPERATING ASSUMPTIONS                                  Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                           Asset Management Fee Amount                                               Yr 1 Asset Mgt Fee Percentage of EGI:
Expense Growth            3.00%                           Incentive Management Fee Amount                                           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           3.00%                           Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:
Vacancy & Collection Loss 7.00%                              Expense Growth Rate (3.00%)                                        --> If Yes, indicate Yr 1 Mgt Fee Amt:
Ancillary Income Limit    2.00%                              Percent of Effective Gross Income                                  --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                   21           22           23           24           25           26           27           28           29           30
Revenues                             -            -            -            -            -            -            -            -            -            -
Ancillary Income                     -            -            -            -            -            -            -            -            -            -
Vacancy                              -            -            -            -            -            -            -            -            -            -
Other Income (OI)                    -            -            -            -            -            -            -            -            -            -
OI Not Subject to Mgt Fee            -            -            -            -            -            -            -            -            -            -
Expenses less Mgt Fee                -            -            -            -            -            -            -            -            -            -
Property Mgmt                              Choose mgt fee
                              Choose mgt fee            Choose mgt fee
                                                                     Choose mgt fee
                                                                                  Choose mgt fee
                                                                                               Choose mgt fee            Choose mgt fee
                                                                                                            Choose mgt fee                         Choose mgt fee
                                                                                                                                      Choose mgt fee
Reserves                             -            -            -            -            -            -            -            -            -            -
NOI                                  -            -            -            -            -            -            -            -            -            -
D/S USDA/HUD Mortgage                -            -            -            -            -            -            -            -            -            -
                                     -            -            -            -            -            -            -            -            -            -
D/S Mortgage B                       -            -            -            -            -            -            -            -            -            -
D/S Mortgage C                       -            -            -            -            -            -            -            -            -            -
D/S Other Source                     -            -            -            -            -            -            -            -            -            -
D/S Other Source                     -            -            -            -            -            -            -            -            -            -
DCA HOME Cash Resrv.
Asset Mgmt                              -            -                -                 -                  -                 -                 -                  -                 -                     -
DDF                                     -            -                -                 -                  -                 -                 -                  -                 -                     -
Incentive Mgmt                          -            -                -                 -                  -                 -                 -                  -                 -                     -
Cash Flow                               -            -                -                 -                  -                 -                 -                  -                 -                     -
DCR First Mortgage
DCR USDA/HUD Fee
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio
First Mortgage Balance                  -            -                -                 -                  -                 -                 -                  -                 -                     -
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance


  e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                    Part VII-Pro Forma                                                                                          33 of 61
  Georgia Department of Community Affairs                                          2010 Funding Application                                                             Office of Affordable Housing
                                                          PART SEVEN - OPERATING PRO FORMA - 2010-0 , , County
I. OPERATING ASSUMPTIONS                                      Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                               Asset Management Fee Amount                                               Yr 1 Asset Mgt Fee Percentage of EGI:
Expense Growth            3.00%                               Incentive Management Fee Amount                                           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           3.00%                               Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:
Vacancy & Collection Loss 7.00%                                  Expense Growth Rate (3.00%)                                        --> If Yes, indicate Yr 1 Mgt Fee Amt:
Ancillary Income Limit    2.00%                                  Percent of Effective Gross Income                                  --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                        31           32                   33                34                 35
Revenues                                -            -                    -                 -                  -
Ancillary Income                        -            -                    -                 -                  -
Vacancy                                 -            -                    -                 -                  -
Other Income (OI)
OI Not Subject to Mgt Fee
Expenses less Mgt Fee                -            -            -            -            -
Property Mgmt                              Choose mgt fee
                              Choose mgt fee                         Choose mgt fee
                                                        Choose mgt fee            Choose mgt fee
Reserves                             -            -            -            -            -
NOI                                  -            -            -            -            -
D/S USDA/HUD Mortgage                -            -            -            -            -
                                     -            -            -            -            -
D/S Mortgage B                       -            -            -            -            -
D/S Mortgage C                       -            -            -            -            -
D/S Other Source                     -            -            -            -            -
D/S Other Source                     -            -            -            -            -
DCA HOME Cash Resrv.
Asset Mgmt                              -            -                    -                 -                  -
DDF                                     -            -                    -                 -                  -
Incentive Mgmt                          -            -                    -                 -                  -
Cash Flow                               -            -                    -                 -                  -
DCR First Mortgage
DCR USDA/HUD Fee
DCR Second Mortgage
DCR Third Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio
First Mortgage Balance                  -            -                    -                 -                  -
Second Mortgage Balance
Third Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance


  e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                        Part VII-Pro Forma                                                                                          34 of 61
  Georgia Department of Community Affairs                                  2010 Funding Application                                                             Office of Affordable Housing
                                                     PART SEVEN - OPERATING PRO FORMA - 2010-0 , , County
I. OPERATING ASSUMPTIONS                              Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                       Asset Management Fee Amount                                               Yr 1 Asset Mgt Fee Percentage of EGI:
Expense Growth            3.00%                       Incentive Management Fee Amount                                           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           3.00%                       Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:
Vacancy & Collection Loss 7.00%                          Expense Growth Rate (3.00%)                                        --> If Yes, indicate Yr 1 Mgt Fee Amt:
Ancillary Income Limit    2.00%                          Percent of Effective Gross Income                                  --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
III. Applicant Comments & Clarifications                                                                     IV. DCA Comments




  e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                Part VII-Pro Forma                                                                                          35 of 61
       Georgia Department of Community Affairs                          2010 Funding Application                Office of Affordable Housing
                                                          PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                     Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
DCA's Comments / Approval Conditions:
1.)

2.)

3.)

4.)

5.)

6.)

7.)

8.)

9.)

10.)

11.)

12.)

13.)

14.)

15.)

16.)

17.)

18.)

19.)

20.)


       e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                   Part VIII-Threshold Criteria                                36 of 61
     Georgia Department of Community Affairs                                          2010 Funding Application                                                   Office of Affordable Housing
                                                                PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                                       Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
1   Project Feasibility, Viability Analysis, and Conformance with Plan                                                                                                      Pass?

    A. Equity Commitment                                                                                                                                                         A.
        1) Has the applicant closed an equity partnership with the proposed Equity provider within the last 24 months?                                                           1)
        2) How many tax credit deals have you closed with this equity provider within the past five years?                                                                       2)
    B. Debt Commitment                                                                                                                                                           B.
        1) a) Are any commitments submitted as “Under Consideration” which need final approval before September 30, 2010?                                                       1a)
           b) If yes, then state the applicable financial assistance/funding:                                          << Select >>                                             1b)
        2) Has the applicant closed a loan with the proposed lender within the last 24 months?                                                                                   2)
        3) How many loans have you closed with this lender within the past five years?                                                                                           3)
    Applicant's comments regarding this section of Threshold:




    DCA's Comments:




2   Tenancy Characteristics                                                                                                                                                 Pass?
       This project is designated as:
    Applicant's comments regarding this section of Threshold:                                                DCA's Comments:


3   Required Services                                                                                                                                                       Pass?

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



    DCA's Comments:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                    Part VIII-Threshold Criteria                                                                           37 of 61
     Georgia Department of Community Affairs                                          2010 Funding Application                                                Office of Affordable Housing
                                                                PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                                      Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
4   Market Feasibility                                                                                                                                                  Pass?

    A.  Provide the name of the market study analyst used by applicant:                                                                  A.
    B.  Project absorption period                                                                                                        B.
    C.  Stabilization period                                                                                                             C.
    D.  Overall capture rate for credit units                                                                                            D.
    E.  List DCA tax credit projects (inside a 2-mile radius for urban or, for rural, the greater of a 10-mile radius or the
                                                                                                                                                                           E.
        local jurisdiction) for years 2005 - 2009. Include both DCA project number and project name in each case.
             Project Nbr Project Name                                 Project Nbr Project Name                                 Project Nbr Project Name
          1                                                        4                                                         7
          2                                                        5                                                         8
          3                                                        6                                                         9
     F. Does the unit mix/rents and amenities included in the application match those provided in the market study?                                                        F.
    Applicant's comments regarding this section of Threshold:




    DCA's Comments:




5   Appraisals                                                                                                                                                          Pass?

    A. Is there is an identity of interest between the buyer and seller of the project?                                                                                    A.
    B. Is an appraisal included in this application submission?                                                                                                            B.
           If an appraisal is included, indicate Appraiser's Name and answer the following questions:         Appraiser's Name:
        1) Does it include the “as is” value, "as built/as complete" (encumbered), "as built/ as complete" (unencumbered) values of the proposed subject property
                                                                                                                                                                           1)
           and tax credit value?
        2) Does the “as is” value delineate the value of the land and building?                                                                                            2)
        3) Does the total hard cost of the project exceed 90% of the as completed unencumbered appraised value of the property?                                            3)
     C. Has the Ownership Entity owned the property for less than three (3) years?                                                                                         C.
     D. Has the property been:
        1) Rezoned?                                                                                                                                                        1)
        2) Subdivided?                                                                                                                                                     2)
        3) Modified?                                                                                                                                                       3)
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                    Part VIII-Threshold Criteria                                                               38 of 61
     Georgia Department of Community Affairs                                        2010 Funding Application                                          Office of Affordable Housing
                                                                PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                           Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
6   Environmental Requirements                                                                                                                               Pass?

    Did the Applicant receive a DCA Noise Waiver?
     A. Name of Consultant that prepared the Phase I Assessment:                                                                  A.
    B. Was the original Phase I Environmental Report for the subject property prepared in accordance with ASTM 1527-05?                                         B.
    C. Is a Phase II Environmental Report included?                                                                                                             C.
    D. Was a Noise Assessment performed?                                                                                                                        D.
        1) If "Yes", provide the maximum noise level on site in decibels:
        If "Yes", what are the contributing factors in decreasing order of magnitude?

    E. Is the subject property located in a:
        1) Brownfield?                                                                                                                                           1)
        2) 100 year flood plain / floodway?                                                                                                                      2)
           If "Yes", percentage of site that is within a floodplain:
           If "Yes", will any development occur in the floodplain?
               If "Yes", is documentation provided as per Threshold criteria?
        3) Wetlands?                                                                                                                                             3)
           If "Yes", enter the percentage of the site that is a wetlands:
           If "Yes", will any development occur in the wetlands?
               If "Yes", is documentation provided as per Threshold criteria?
        4) State Waters/Streams area?                                                                                                                            4)
    F. Has the Environmental Professional identified any of the following on the subject property:
        1) Asbestos?                                                          3) PCB's?                                            5) Lead in water
        2) Lead-based paint?                                                  4) Mold?                                             6) Radon?
        7) Other (e.g., endangered species, Native American burial grounds, etc.):
    G. Is all additional environmental documentation required for a HOME application included?                                                                  G.
        1) Eight-Step Process completed for Wetlands and/or Floodplains?                                                                                        1)
        2) Has Applicant/PE completed the HOME and HUD Environmental Questionnaire?                                                                             2)
        3) Owner agrees that they must refrain from undertaking any activities that could have an adverse effect on the subject property?                       3)
    H. If HUD approval has been previously granted, has the HUD Form 4128 been included?                                                                        H.
    Applicant's comments regarding this section of Threshold:




    DCA's Comments:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                  Part VIII-Threshold Criteria                                                         39 of 61
     Georgia Department of Community Affairs                                        2010 Funding Application                                                   Office of Affordable Housing
                                                                PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                                    Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
7   Site Control                                                                                                                                                      Pass?
     A. Is site control provided through December 31, 2010?                                                                                                               A.
     B. Form of site control:                                                                                                                     B.
     C. Name of Entity with site control:                                                                  C.
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:



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



    DCA's Comments:



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



    DCA's Comments:



10 Operating Utilities                                                                                                                                                Pass?
    A. Check applicable utilities and enter provider name:                   1) Gas              <<Enter Provider Name Here>>                                             1)
                                                                             2) Electric         <<Enter Provider Name Here>>                                             2)
    Applicant's comments regarding this section of Threshold:

    DCA's Comments:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                      Part VIII-Threshold Criteria                                                              40 of 61
    Georgia Department of Community Affairs                                          2010 Funding Application                                                Office of Affordable Housing
                                                               PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                                   Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
11 Public Water/Sanitary Sewer/Storm Sewer                                                                                                                              Pass?

   A. Is there a Waiver Approval Letter From DCA included in this application for this criterion as it pertains to Rural projects?                                          A.
   B. Check all that are available to the site and enter provider          1) Public water <<Enter Provider Name Here>>                                                     1)
      name:                                                                2) Public sewer <<Enter Provider Name Here>>                                                     2)
                                                                              3) Waiver         <<Enter Provider Name Here>>                                                3)
   Applicant's comments regarding this section of Threshold:

   DCA's Comments:


12 Required Amenities                                                                                                                                                   Pass?
   Is there a Pre-Approval Form from DCA included in this application for this criterion?
    A. Applicant agrees to provide the following required Standard Site Amenities in conformance with the DCA Amenities Guidebook (select one in each category):
        1) Community area (select either community room or community building):                                                               A1) <<Select>>
        2) Exterior gathering area:                                                                                                           A2) <<Select>>
        3) On site laundry type:                                                                                                A3) <<Select>>
    B. Applicant agrees to provide the following required Additional Site Amenities to conform with the DCA Amenities Guidebook.                                            B.
        The nbr of amenities required depends on the total unit count: 1-125 units = 2 amenities, 126+ units = 4 amenities;                                                       Additional Amenities
           Additional Amenities (describe in space provided below)              Guidebook Met? DCA Pre-approved?      Additional Amenities (describe in space provided below) Guidebook Met? DCA Pre-approved?
        1)                                                                                                         5)
        2)                                                                                                         6)
        3)                                                                                                         7)
        4)                                                                                                         8)
   C. Applicant agrees to provide the following required Unit Amenities:                                                                                                    C.
      1) HVAC                                                                                                                                                               1)
      2) Refrigerator (Energy Star rated)                                                                                                                                   2)
      3) Dishwasher (Energy Star rated)                                                                                                                                     3)
      4) Stove                                                                                                                                                              4)
      5) a. Powder-based stovetop fire suppression canisters installed above the range cook top, OR                                                                        5a)
         b. Electronically controlled solid cover plates over stove top burners                                                                                            5b)
    D. Applicant agrees to provide the following additional required Amenities for Senior projects:                                                                         D.
       1) Elevators are installed for access to all units above the ground floor.                                                                                           1)
       2) Buildings more than two story construction have interior gathering areas in several locations in the lobbies and/or corridors                                     2)
       3) a. 100% of the units are accessible and adaptable, as defined by the Fair Housing Amendments Act                                                                 3a)
          b. If No, was a DCA Architectural Standards waiver granted?                                                                                                      3b)
   Applicant's comments regarding this section of Threshold:



   DCA's Comments:




    e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                      Part VIII-Threshold Criteria                                                                     41 of 61
     Georgia Department of Community Affairs                                          2010 Funding Application                                                  Office of Affordable Housing
                                                                PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                                     Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
13 Physical Needs Assessment (Rehabilitation Projects Only)                                                                                                            Pass?

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




   DCA's Comments:




14 Site Information and Conceptual Site Development Plan                                                                                                               Pass?

    A. Is the Conceptual Site Development Plan included in this application and has it been prepared in accordance with instructions set forth in the Manual?              A.
    B. Are all site related amenities required and selected in this application indicated on the Conceptual Site Development Plan?                                         B.
   Applicant's comments regarding this section of Threshold:




   DCA's Comments:




15 Building Sustainability                                                                                                                                             Pass?

    A. Does the project meet Georgia Energy Codes?                                                                                                                         A.
    B. Do the basic design and equipment meet the requirements of the Architectural Manual, including those for Energy Star rated appliances?                              B.
    C. Applicant has reviewed Exhibit A to Appendix I Building Sustainability Certification and agrees to provide this Certification if funded with Step II
       Architectural Submittal documents in accordance with the Architectural Submittal Manual?                                                                           C.

   Applicant's comments regarding this section of Threshold:




   DCA's Comments:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                     Part VIII-Threshold Criteria                                                                       42 of 61
    Georgia Department of Community Affairs                                           2010 Funding Application                                                      Office of Affordable Housing
                                                               PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                                           Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
16 Accessibility Standards                                                                                                                                                   Pass?
   A. Does this project comply with all applicable Federal and State accessibility laws including but not limited to The Fair Housing Act, Section                              A.
      504, American with Disabilities Act, Georgia Fair Housing Law and Georgia Access Law?
   B. Does this project comply with applicable DCA accessibility requirements detailed in the Accessibility Manual of the 2010 Application Manual?                              B.
   C. Are at least 5% of the total units equipped for the mobility disabled, including wheelchair restricted residents, and at least 2% of the total units (to be part
                                                                                                                                                                                C.
      of this 5%) are equipped with roll-in showers?
   D. Are at least an additional 2% of the total units equipped for hearing and sight-impaired residents?                                                                       D.
   E. Applicant agrees to arrange for the inspection of the project by a DCA-qualified consultant 3 times during construction in order to certify the project's as-
                                                                                                                                                                                E.
      built compliance with accessibility regulations?
   Applicant's comments regarding this section of Threshold:



   DCA's Comments:




17 Architectural Design & Quality Standards                                                                                                                                  Pass?
   Is there a Waiver Approval Letter From DCA included in this application for this criterion?
   Does this application meet the Architectural Standards contained in the Application Manual for quality and longevity?
    A. Constructed and Rehabilitation Construction Hard Costs - are the following minimum review standards for rehabilitation projects met or exceeded by this project?
        1) The expected life of the completed property must exceed by five years the greater of the Compliance Period or the Period of Affordability                    1)
        2) All construction must meet the requirements set forth in the Manual                                                                                          2)
        3) Rehabilitation projects will be considered for funding only if the per unit rehabilitation hard costs exceed $25,000 for properties less than 20 years old   3)
           and the per unit rehabilitation hard costs exceed $30,000 for properties that exceed 20 years old
       4) The total hard cost of any rehabilitation project must not exceed 90% of the as-completed unrestricted appraised value of the property                                4)
       5) The costs of furniture, fixtures, construction of community buildings and common area amenities are not included in these amounts                                     5)
   B. Standard Design Options for All Projects                                                                                                                                  B.
      1) Exterior Wall Finishes (select one)   <<Select exterior material /finish upgrade choice from options provided here>>                                                   1)

       2) Attractive Features (select two)           <<Select attractive features>>                                                                                             2)
                                                     <<Select attractive features>>
       3) Major Bldg Component Materials &           <<Select materials>>                                                                                                       3)
          Upgrades (select one)
       4) Landscaping and Site Design Features       <<Select landscaping or site design feature>>                                                                              4)
          (select two)                               <<Select landscaping or site design feature>>
   Applicant's comments regarding this section of Threshold:



   DCA's Comments:




    e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                      Part VIII-Threshold Criteria                                                                    43 of 61
    Georgia Department of Community Affairs                                           2010 Funding Application                                             Office of Affordable Housing
                                                                PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                                Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
18 Experience                                                                                                                                                        Pass?

   Is there a Pre-Determination Letter From DCA included in this application for this criterion?
   Is there a Waiver Approval Letter From DCA included in this application for this criterion?
   A. Have all entities and individuals in the Owner and Developer organizational structure been identified on an organizational chart?                                 A.
      Please disclose any conflict of interest between the parties:


   B. Is there a Development fee sharing arrangement between the Owner, Developer or any other party?                                                                   B.
      If Yes, disclose details in box below:


   C. Is there any Guarantee Agreement?                                                                                                                                 C.
      If Yes, disclose details in box below:


   D. Please disclose all owner and development consultants, direct or indirect, paid or unpaid.


   E. This Application meets Owner Experience through (select one):                                                                                  E.
      1) Name of Experienced Owner, Partner or Consultant:                                                                                           1)
      2) Was this individual or entity determined to be experienced by DCA prior to 2010 Application Submission?                                                        2)
      3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership                    3)
         and operation of the project?
    F. This Application meets Developer Experience through (select one):                                                                              F.
       1) Name of Experienced Developer, Partner or Consultant:                                                                                       1)
       2) Was this individual or entity determined to be experienced by DCA prior to 2010 Application Submission?                                                       2)
       3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership                   3)
          and operation of the project?
   G. This Application meets Manager Experience through (select one):                                                                                  G.
        1) Name of Experienced Manager, Partner or Consultant:                                                                                         1)
        2) Was this individual or entity determined to be experienced by DCA prior to 2010 Application Submission?                                                      2)
        3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership                  3)
           and operation of the project?
   H. If the Owner or Developer is meeting DCA experience requirements through a consulting agreement with an experienced consultant, the Applicant must state the
           name of the property through which the Owner or Developer meets said requirements. Name of Property:
    I. Is the applicant applying to DCA under the Probationary Participation provision?                                                                                 I.
   J. Does the Training / Developer Agreement / Partnership Agreement meet the requirement set forth in the Consultant / Partnership Training Manual?                   J.
   Applicant's comments regarding this section of Threshold:



   DCA's Comments:




    e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                      Part VIII-Threshold Criteria                                                           44 of 61
     Georgia Department of Community Affairs                                            2010 Funding Application                                                   Office of Affordable Housing
                                                                 PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                                            Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
19 Compliance History Summary                                                                                                                                                 Pass?

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



   DCA's Comments:




20 Eligibility for Credit under the Nonprofit Set-Aside                                                                                                                       Pass?
    A. Name of Qualified Nonprofit:                                                                         A.
    B. Is the organization a qualified nonprofit, defined as a 501c(3) or 501c(4) organization not affiliated or controlled by a for-profit organization,
                                                                                                                                                                                 B.
       and whose tax-exempt purpose is the fostering of low-income housing?
    C. Does the qualified nonprofit materially participate in the project as described in IRC Section 469(h)?                                                                    C.
    D. Does the qualified nonprofit own at least 51% of the GP's interest in the project and is the managing general partner of the ownership entity?                            D.
    E. If the nonprofit is also a developer of the project, does the nonprofit receive a percentage of the developer fee greater than or equal to its percentage of its          E.
       ownership interest?
    F. Is a copy of the GP joint venture agreement that indicates nonprofit's general partnership interest and developer fee amount included in application?                     F.
   Applicant's comments regarding this section of Threshold:

   DCA's Comments:


21 Eligibility for HOME Loans under the CHDO Set-Aside*                                                                                                                       Pass?
    A. Name of CHDO:                                                                                    A.
    B. Is a copy of the State CHDO pre-qualification/renewal letter included in the Application?                                                                                 B.
    C. Is the CHDO either the sole general partner of the ownership entity or the managing general partner of the ownership entity?                                              C.
    D. If the CHDO is a general partner with a for-profit or nonprofit general partner, does the CHDO own at least 51% of the general partnership interest?                      D.
    E. Does the CHDO (or a wholly owned or controlled affiliate) receive a percentage of the Developer Fee greater than or equal to the percentage of
                                                                                                                                                                                 E.
       ownership interest?
    F. Is a copy of the GP/joint venture agreement indicating CHDO’s GP interest and its share (or the share of the wholly owned and controlled affiliate) of                    F.
       Developer Fee included in Application?
   G. Do all parties understand that the CHDO must exercise effective control of the partnership throughout the period of affordability?                                         G.
   Applicant's comments regarding this section of Threshold:

   DCA's Comments:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                      Part VIII-Threshold Criteria                                                                   45 of 61
     Georgia Department of Community Affairs                                           2010 Funding Application                                                     Office of Affordable Housing
                                                                PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                                            Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
22 Additional HUD Requirements                                                                                                                                                 Pass?
    A. The Census Tract for the property is characterized as [Choose either Minority concentration (50% or more minority),                            A.          <<Select>>           <<Select>>
       Racially mixed (25% - 49% minority), or Non-minority (less than 25% minority)]:
     B. List all contiguous Census Tracts:                    B.
     C. Is Contract Addendum included in Application?                                                                                                                             C.
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:




23 Required Legal Opinions State legal opinions included in application using boxes provided.                                                                                  Pass?
     A. Credit Eligibilty for Acquisition                                                                                                                                         A.
     B. Credit Eligibilty for Assisted Living                                                                                                                                     B.
     C. Nonprofit Federal Tax Exempt Status                                                                                                                                       C.
     D. Accessibility Standards                                                                                                                                                   D.
     E. Other (If Yes, then also describe):                   E.
    Applicant's comments regarding this section of Threshold:

    DCA's Comments:


24 Georgia Housing Search                                                                                                                                                      Pass?
    A. Applicant agrees that if Application is selected for funding, then the Applicant will list all of its existing developments in the Georgia Housing Search within           A.
       six months of selection. I agree.
     B. Has Applicant registered all available affordable Housing Units previously funded by DCA on the Georgia Housing Search website?                                           B.
    Applicant's comments regarding this section of Threshold:                                             DCA's Comments:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                     Part VIII-Threshold Criteria                                                                    46 of 61
    Georgia Department of Community Affairs                                           2010 Funding Application                                              Office of Affordable Housing
                                                               PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                                 Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
25 Relocation and Displacement of Tenants                                                                                                                          Pass?
   A. Does the Applicant anticipate displacing or relocating any tenants?                                                                                              A.
   B. 1) Are any of the sources other than DCA HOME considered to be Federal Funding?                                                                                 B1)
      If Yes, applicant will need to check with the source of these funds to determine if this project will trigger the Uniform Relocation Act or 104(d).
      2) Will any funding source used trigger the Uniform Relocation Act or HUD 104 (d) requirements?                                                                  2)
   C. Is sufficient comparable replacement housing identified in the relocation plan according to DCA relocation requirements?                                         C.
    D. Provide summary data collected from Relocation Displacement Spreadsheet:                                                                                        D.
       1) Number of Over Income Tenants                                                                                                                                1)
       2) Number of Rent Burdened Tenants                                                                                                                              2)
       3) Number of Vacancies                                                                                                                                          3)
       4) Number of Down units                                                                                                                                         4)
       5) Number of Displaced Tenants                                                                                                                                  5)
    E. Indicate Proposed Advisory Services to be used (see Relocation Manual for further explanation):                                                                 E.
       1) Individual interviews                                                                                                                                        1)
       2) Meetings                                                                                                                                                     2)
       3) Written Notifications                                                                                                                                        3)
       4) Other - describe in box provided:                  4)
   Applicant's comments regarding this section of Threshold:



   DCA's Comments:




26 Marketing to Special Need Population                                                                                                                            Pass?
    A. Has the marketing plan been completed according to DCA requirements and included in the application binder where indicated by the Tabs Checklist?               A.
    B. Name of Service Provider:                             B.
   Applicant's comments regarding this section of Threshold:




   DCA's Comments:




    e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                     Part VIII-Threshold Criteria                                                             47 of 61
    Georgia Department of Community Affairs                                      2010 Funding Application                                          Office of Affordable Housing
                                                            PART EIGHT - THRESHOLD CRITERIA - 2010-0 , , County
Preliminary Rating: Incomplete                                                                                                                        Applicant Response DCA USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
27 Optimal Utilization of Resources                                                                                                                       Pass?
   Are there any issues with the following project characteristics? If Yes, please explain in Comments box below.
   A. Property acquisition and rehabilitation cost versus the cost to demolish and build a similar property in the same market area
   B. Ratio of acquisition costs versus rehab hard costs
   C. DCA resources allocated to develop each unit
   D. Effectiveness and aesthetics versus the cost of a mitigation plan
   E. Efficient and marketable use of the site, considering size and lay-out, to accommodate the number and type of units and amenities proposed
   F. Undue enrichment of any development team member or contractor particularly where there are identities of interest
   G. Impact on affordable housing stock
   H. Other uses proximate to the site
    I. Market information generated by or available to DCA; and
   J. Property is already affordable and not a priority for receipt of resources
   K. Transaction appears to be primarily driven by the transfer of the property
   M. Other (describe):
   N. Other (describe):
   O. Other (describe):
   Applicant's comments regarding this section of Threshold:



   DCA's Comments:




    e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                Part VIII-Threshold Criteria                                                         48 of 61
        Georgia Department of Community Affairs                                    2010 Funding Application                                                                   Office of Affordable Housing
                                                                    PART NINE - SCORING CRITERIA - 2010-0 , , County
                                                                                                                                                                                          Score         Self DCA
                                                                                                                                                                                          Value        Score Score
                                                                                                                                                                           TOTALS:        108           10        10
1. APPLICATION COMPLETENESS/ORGANIZATION                                        (Applicants start with 10 pts. Any points entered will be subtracted from score value)                     10           10        10
    A. Missing or Incomplete Documents                Number:   0               For each missing or incomplete document, one (1) point will be deducted                                     7     A.
    B. Financial and Other Adjustments                Number:   0               1-3 adjustments/revisions = one (1) pt deduction total; then (1) pt deducted for each add'l adjustment.     0     B.
    C. Organization                                   Number:   0               One (1) pt deducted if not organized in DCA format and/or required document not in correct tab.             1     C.
Applicant's comments regarding this section of scoring:



DCA's Comments:                              Enter "1" for each item                                                                     Enter "1" for each item                          Enter "1" for each item
A. Missing / incomplete documents:           Nbr        0        B. Financial adjustments/revisions requested:                          Nbr         0          C. Documents not organized correctly: Nbr 0
1                                                                1                                                                                             1

2                                                               2                                                                                                   2

3                                                               3                                                                                                   3

4                                                               4                                                                                                   4

5                                                               5                                                                                                   5

6                                                               6                                                                                                   6

7                                                               7                                                                                                   7

8                                                               8                                                                                                   8

9                                                               9                                                                                                   9

10                                                              10                                                                                                  10

11                                                              11                                                                                                  11

12                                                              12                                                                                                  12




        e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                 Part IX-Scoring Criteria                                                                                      49 of 61
     Georgia Department of Community Affairs                                       2010 Funding Application                                                     Office of Affordable Housing
                                                                 PART NINE - SCORING CRITERIA - 2010-0 , , County
                                                                                                                                                                                 Score         Self DCA
                                                                                                                                                                                 Value        Score Score
                                                                                                                                                              TOTALS:             108          10        10
2. DEEPER TARGETING / RENT AND INCOME RESTRICTIONS                                                                                                                                 3
   50% Gross Rent Restrictions / 50% Income Restrictions:                       Nbr units to have these restrictions:                            Percent of Residential Units:
   Applicant's comments regarding this section of scoring:

   DCA's Comments:



3. QUALITY GROWTH INITIATIVES                                                    See scoring criteria for further requirements and information                                     18          0         0
A. Desirable/Undesirable Activities Characteristics                              (Applicants need to complete Desirable/Undesirable Certification form)                            10    A.    0         0
   1. Desirable Sites (1 pt each)                                                                                                                                                various 1.
   2. Undesirable Sites (1 pt subtracted for each - points entered here will be subtracted from the score value of 10)                                                           various 2.
   Applicant's comments regarding this section of scoring:




   DCA's Comments:




B. Infill / Rural Smart Growth Development                                                                                                                                         3     B.
   Indicate Quality Growth Initiative to be used (choose one):                   << Select one >>
   How does the site maximize the
   use of existing facilities and
   infrastructure?



   Describe Adjacent established
   occupied residential development:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                   Part IX-Scoring Criteria                                                                              50 of 61
    Georgia Department of Community Affairs                             2010 Funding Application                Office of Affordable Housing
                                                            PART NINE - SCORING CRITERIA - 2010-0 , , County
                                                                                                                           Score         Self DCA
                                                                                                                           Value        Score Score
                                                                                                               TOTALS:      108          10        10
  Additional information for Infill Option:
  Describe Adjacent established
  development that is on all but one
  side of development:



  Applicant's comments regarding this section of scoring:




  DCA's Comments:



C. Community Transportation Options                                                                                          3     C.
  Applicant's comments regarding this section of scoring:



  DCA's Comments:



D. Adaptive Reuse      (w/PNA & supporting documentation)              Existing building formerly used as:                   1     D.
  Applicant's comments regarding this section of scoring:



  DCA's Comments:



E. Brownfield                         (With EPA/EPD Documentation)                                                           2     E.
  Applicant's comments regarding this section of scoring:



  DCA's Comments:




    e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                          Part IX-Scoring Criteria                                  51 of 61
     Georgia Department of Community Affairs                                      2010 Funding Application                                                   Office of Affordable Housing
                                                                PART NINE - SCORING CRITERIA - 2010-0 , , County
                                                                                                                                                                        Score         Self DCA
                                                                                                                                                                        Value        Score Score
                                                                                                                                                          TOTALS:        108          10        10
4. SUSTAINABLE DEVELOPMENTS                      (choose only one)                               <Select a Sustainable Development Certification>                         4            0
   Applicant's comments regarding this section of scoring:




   DCA's Comments:




5. STABLE COMMUNITIES / REDEVELOPMENT / REVITALIZATION                                           <Select a Stable Communities/Redevelopment/Revitalization option>        6            0
Additional required questions depending on option selected above:
A. Stable Communities                                                                                                                                                     3
   Project is located in a census tract that meets the following demographics according to the most recent FFIEC Census Report (www.ffiec.gov/WebCensus/):                           Yes/No Yes/No
    a) Less than 10% below Poverty level                          (see Income)                                                                                                  a)
    b) Designated Middle or Upper Income level                    (see Demographics)                                                                                            b)
    c) Less than 25% of housing units are rental occupied         (see Housing)                                                                                                 c)
    d) Tracts not designated as distressed or underserved         (see Demographics)                                                                                            d)
    e) Market study must demonstrate need for affordable housing                                                                                                                e)
B. Community Redevelop / Revitalization Plans and Strategies
    1.    HOPE VI Initiatives - the Initiative will:                                                                                                                      6          Yes/No Yes/No
     a)   Provide affordable units for an extended period of 30 years or more;                                                                                                  a)
     b)   Be part of a mixed income phased community with a significant market component                                                                                        b)
     c)   Facilitate the deconcentration of poverty                                                                                                                             c)
     d)   Provide for community improvements or amenities                                                                                                                       d)
    2.    Promotes Neighborhood Stabilization                                                                                                                             3
    3.    Statutory Redevelopment Plans                                                                                                                                   2
    4.    Redevelopment Zones                                      Type:                             Number:                                                              2
    5.    Local Redevelopment Plan                                 Name of Plan:                                                                                          1
   Applicant's comments regarding this section of scoring:




   DCA's Comments:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                  Part IX-Scoring Criteria                                                                      52 of 61
     Georgia Department of Community Affairs                                        2010 Funding Application                                               Office of Affordable Housing
                                                                 PART NINE - SCORING CRITERIA - 2010-0 , , County
                                                                                                                                                                        Score         Self DCA
                                                                                                                                                                        Value        Score Score
                                                                                                                                                          TOTALS:       108           10        10
6. MARKET ADVANTAGE                                                                                                                                                      10            0         0
    A. Phased Developments
       Proposed project is part of Phased Development in which one or more phases received an allocation of 9% tax credits & at least one phase has commenced
       construction.                                                                                                                                                      6     A.

OR B. Previous Projects                                                                                                                                                   3     B.     0        0
       Proposed development site is within the boundaries of a Local Government where a 9% Credit, 4% Credit and/or HOME project has not been awarded within the last
        <Select Nbr> DCA funding cycles.
    C. Market Study                                                                                                                                                       4     C.     0        0
    1. Completeness Score                                                                                                                                                 2     1.
    2. Market Advantage Score                                                                                                                                             2     2.
   Applicant's comments regarding this section of scoring:




   DCA's Comments:




7. WAIVER OF QUALIFIED CONTRACT RIGHT / TENANT OWNERSHIP PLAN                                                           (choose only one)                                 1            0        0
    A. Waiver of Qualified Contract Right           Applicant agrees to forego cancellation option for at least 5 yrs after close of Compliance period?                   1     A.
    B. Tenant Ownership                                                                                                                                                   1     B.
   Applicant's comments regarding this section of scoring:

   DCA's Comments:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                    Part IX-Scoring Criteria                                                                    53 of 61
     Georgia Department of Community Affairs                                        2010 Funding Application                                             Office of Affordable Housing
                                                                 PART NINE - SCORING CRITERIA - 2010-0 , , County
                                                                                                                                                                    Score         Self DCA
                                                                                                                                                                    Value        Score Score
                                                                                                                                                        TOTALS:      108          10        10
8. PRESERVATION                                                                                                        (choose only one)                              6            0         0
   A. Historic Designation                                                                          <Select a Historic Designation>                                   3     A.     0
    1. Buildings on project site are listed individually in National Register of Historic Places & will be preserved according to SHPO requirements                   3
    2. Buildings on the project site are potentially eligible to be listed because they are located in a:
                     a. "Registered historic district"                                                                                                                1
                     b. Potentially eligible district that contributes to the significance of the district and will be preserved                                      1
   B. Preservation                                                                                                                                                    3     B.
   Applicant's comments regarding this section of scoring:




   DCA's Comments:




9. NONPROFIT                                                                                                           (choose only one)                              2            0        0
A. GP is comprised of 100% nonprofit organizations and the project is applying for and is eligible for the nonprofit set-aside                                        2     A.
B. For-profit entity partnering with a nonprofit that is applying for (and is eligible) under the Plan’s Credits nonprofit set-aside                                  1     B.
   Applicant's comments regarding this section of scoring:



   DCA's Comments:




10. RURAL                                                                                                              (80 residential units or less)                 2
   Applicant's comments regarding this section of scoring:                                                             DCA's Comments:




     e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                     Part IX-Scoring Criteria                                                               54 of 61
    Georgia Department of Community Affairs                                             2010 Funding Application                                           Office of Affordable Housing
                                                                       PART NINE - SCORING CRITERIA - 2010-0 , , County
                                                                                                                                                                          Score            Self DCA
                                                                                                                                                                          Value           Score Score
                                                                                                                                                         TOTALS:            108            10        10
11. LOCAL GOVERNMENT SUPPORT                                                                                                                                                 4             0         0
A. Resolution of Support                                                                                                                                                     3      A.
  The resolution clearly indicates that the Local Government understands the nature of the proposed project by identifying, at a minimum:                                                 Yes/No Yes/No
    1. Type of project                                                                                                                                                               1.
    2. Number of anticipated units                                                                                                                                                   2.
    3. Specific project location                                                                                                                                                     3.
    4. The resolution clearly expresses the Local Government’s support of the proposed project, as opposed to merely expressing indifference                                         4.

B. DCA Community Initiatives                                                                                                                                                 1      B.
       Letter from a designated                        <<Select a DCA Community Initiative>>               that clearly:                                                                  Yes/No Yes/No
    a) identifies the project as located w/in political jurisdiction    < Select applicable GICH >                < Select Signature Community >   <Select Community of Opportunity> a)
    b) is indicative of the community’s affordable housing goals                                                                                                                     b)
    c) identifies that the project meets one of the objectives of the formal Program Plan                                                                                            c)
    d) is excuted by the official representative of the Community                                                                                                                    d)

  Applicant's comments regarding this section of scoring:




  DCA's Comments:




    e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                           Part IX-Scoring Criteria                                                                   55 of 61
    Georgia Department of Community Affairs                                      2010 Funding Application                                       Office of Affordable Housing
                                                              PART NINE - SCORING CRITERIA - 2010-0 , , County
                                                                                                                                                           Score         Self DCA
                                                                                                                                                           Value        Score Score
                                                                                                                                               TOTALS:      108          10        10
12. LEVERAGING OF RESOURCES                                                                                                                                  7           0         0
  To be eligible for points under section A or B below, the following criteria must be met:                                                                             Yes/No Yes/No
   1. Funding or assistance provided will be binding and unconditional except as set forth in this section.                                                        1.
   2. Resources will be utilized if the project is selected for funding by DCA                                                                                     2.
   3. Loans are for both construction and permanent financing phases                                                                                               3.
   4. Loans are for a minimum period of ten years and reflect interest rates at or below AFR.                                                                      4.
   5. Commitment or award documentation meets the terms and conditions as applicable specified in Appendix I, Threshold Criteria, Section I.                       5.

A. Grants/Loans                                                                                                                                              3     A.    0         0
    1. Community Development Block Grant (CDBG) program funds                 ($500,000 minimum)                                                             1     1.
    2. Federal Home Loan Bank Affordable Housing Program (AHP)                 ($500,000 minimum)                                                            1     2.
    3. Long term Ground leases for nominal consideration and no other land costs                                                                             1     2.
    4. NSP not allocated from DCA                                              ($1,000,000 minimum)                                                          1     4.
    5. Beltline Grant                                                         ($1,000,000 minimum)                                                           1     5.
    6. Housing Opportunity Bonds                                              ($1,000,000 minimum)                                                           1     6.
    7. HOME Funds (non DCA source)                                            ($1,000,000 minimum)                                                           1     7.
    8. HUD 202 or 811 program funds                                           ($3,000,000 minimum)                                                           3     8.

B. Efficient use of DCA Resources                                                                                                                            3     B.    0         0
    1. DCA OAH HOME Loan Consent                                                                                                                             3     1.
    2. DCA-allocated NSP funds                                                ($1,000,000 minimum)                                                           3     2.

C. Off Site Improvement, Amenity and Facility Investment                                                                                                     2     C.
    1. Name of Unrelated Third Party
    2. Description of Improvement(s)
    3. Full Cost of Improvement

  Applicant's comments regarding this section of scoring:



  DCA's Comments:




    e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                  Part IX-Scoring Criteria                                                          56 of 61
    Georgia Department of Community Affairs                                          2010 Funding Application                     Office of Affordable Housing
                                                                  PART NINE - SCORING CRITERIA - 2010-0 , , County
                                                                                                                                             Score         Self DCA
                                                                                                                                             Value        Score Score
                                                                                                                                 TOTALS:      108          10        10
13. DCA OPTIONAL POINTS FOR SUPERIOR PROJECT CONCEPT                                                                                           6
  Is the required narrative (no more than two pages) included in the application binder where indicated by the Tabs Checklist?
  Applicant's comments regarding this section of scoring:



  DCA's Comments:




14. COMPLIANCE HISTORY STATUS                                                                                                                  15          0         0
  Is there a Pre-Determination Letter From DCA included in this application for this criterion?
  A. Owner/Developer                                                                                                                                 A.
  B. Manager (Pass or Fail)                                                                                                                          B.
  Applicant's comments regarding this section of scoring:




  DCA's Comments:




                                                                                  TOTAL POSSIBLE SCORE                                        108          10        10




    e1fd1c1d-56df-4246-9b83-3e470db4872d.xls - March                                      Part IX-Scoring Criteria                                        57 of 61
                          [This document is to be submitted with Application]

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

    [Date]

    Georgia Department of Community Affairs
    Office of Affordable Housing
    60 Executive Park South, NE.
    Atlanta, Georgia 30329-2231

    Re: Application for Low-Income Housing Tax Credit and/or HOME Funding

    To DCA:

    This application is submitted in accordance with the 2010 Qualified Allocation Plan and the Office of
    Affordable Housing Application Manual. In submitting this application for funding consideration, the
    undersigned applicant hereby certifies:
    1)    I am responsible for ensuring that the project consists or will consist of a qualified low-income
          building (or buildings) as defined in the Internal Revenue Code section 42(c)(2) and will satisfy all
          applicable requirements of State and federal tax law in the acquisition, rehabilitation, and operation
          of the project to receive State and federal housing tax credits.
    2)    I am responsible for all calculations and figures relating to the determination of the eligible basis of
          the building(s). I understand and agree that the amount of the credit is allocated by reference to the
          figures that I submit as to eligible and qualified basis. I understand that the actual amount of credit
          allocated may vary somewhat from the amount initially reserved or committed due to (a) the
          determination by the Georgia Department of Community Affairs ("DCA") as to the amount of
          credit necessary for the financial feasibility of the project and its viability as a qualified low-
          income housing project; (b) revisions in the calculations of eligible and qualified basis as finally
          determined; (c) fluctuations in the prevailing credit percentage; and (d) availability of the credit.

    3)    I understand and agree that DCA makes no representations or warranties regarding the financial
          feasibility of the project, the amount of credit, or the appropriateness of the allocation of the credit
          and makes no independent investigation as to the eligible and qualified basis and that any and all
          credit awards and credit amounts are solely based on representations made by me. I therefore
          agree to hold harmless and indemnify DCA and the individual directors, employees, members,
          officers, and agents of DCA in the event that I or anyone acting on my behalf, at my request or by
          and through me incurs any loss in conjunction with the project, diminution of the credit, loss of the
          credit, recapture of part or all of the credit or failure to allocate the credit requested in my
          application.

    4)    I understand and agree that neither DCA nor any of its individual directors, employees, members,
          officers, or agents assume any responsibility or make any representations or warranties with
          respect to: (i) the amount or availability of credit for the project; or (ii) the financial feasibility of
          the project.



2010 OAH Funding Application                  DCA Office of Affordable Housing                                Page 58 of 61
    5)    I understand and agree that my application for a low-income housing credit and/or HOME loan, all
          attachments thereto, amendments, and all correspondence relating to my application in particular or
          the credit in general are subject to a request disclosure under the Georgia Open Records Act and I
          expressly consent to such disclosure. I further understand and agree that any and all
          correspondence to me from DCA or other DCA-generated documents relating to my application are
          subject to a request for disclosure under the Georgia Open Records Act and I expressly consent to
          such disclosure. I agree to hold harmless DCA and the individual directors, employees, members,
          officers, and agents of DCA against all losses, costs, damages, expenses, and liability of
          whatsoever nature or kind (including, but not limited to, attorneys' fees, litigation, and court costs)
          directly or indirectly resulting from or arising out of the release of all information pertaining to my
          application pursuant to a request under the Georgia Open Records Act.

    6)    I understand that any misrepresentations in this application or supporting documentation may result
          in a withdrawal of tax credits and/or HOME loan by DCA, my (and related parties) being barred
          from future program participation, and notification of the Internal Revenue Service and/or HUD.
    7)    I certify that all Federal, State and local subsidies have been disclosed and revealed.

    In addition, Applicant understands:
    •     The above certifications are of a continuing nature and apply at all stages of the application
          process: initial application, commitment, and final allocation/funding.
    •     The State of Georgia Department of Community Affairs (DCA) must be notified of any subsequent
          events or information, which would change any statements or representations in the attached
          application or amendments thereto;
    •     DCA reserves the right to verify all information or documents used in processing the application,
          including requiring credit checks on all parties involved in the transaction. Applicant hereby
          authorizes the financing bank, accountant, mortgage lender, creditors, other state housing agencies
          and others sources identified in the application to release information to DCA or its designee in
          order to verify the accuracy of information in the application and amendments thereto.

    Applicant agrees and understands that it may be charged for all fees and costs incurred by DCA in the
    inspection of funded properties during and after construction and in the enforcement of DCA
    regulations and policies.
    To the best of my knowledge, all of the information in the attached application, including all supporting
    documentation is correct, complete and accurate.

    APPLICANT/OWNER


                        Printed Name                                                   Title




                          Signature                                                    Date

                                                                                     [SEAL]




2010 OAH Funding Application                 DCA Office of Affordable Housing                              Page 59 of 61
                                                                                       SUMMARY OF DCA UNDERWRITING ASSUMPTIONS
Category                                                 Specification                                Scale                                                                                    Minumum Maximum
Funding Limits                                           LIHTC                                        Per Project                                                                                n/a              n/a
                                                                                                      Per Owner Per Round                                                                        n/a           1,700,000
                                                         HOME                                         Per Project                                                                             1,000,000        2,500,000
                                                                                                          0 BR         1 BR             2 BR           3 BR       4 BR
                                                         Unit Cost Limit - both LIHTC and HOME          110,481      126,647          154,003        199,229    218,693                          n/a               0
                                                         Brownfield Projects                            132,577      151,976          184,804        239,075    262,432                          n/a               0
                                                         Historic Rehab Projects                        121,529      139,312          169,403        219,152    240,562                          n/a               0
Annual Operating Expenses
  Annual Operating Expenses                              Urban          Atlanta                       Per Unit                                                                                    4,500           n/a
                                                                        Other                         Per Unit                                                                                    4,000           n/a
                                                         Non-MSA Rural w/out USDA Financing           Per Unit                                                                                    3,000           n/a
                                                         Rural w/USDA Financing                       Per Unit                                                                                    3,000           n/a
   Replacement Reserve Pymt                              Rehab                                        Per Unit                                                                                      350           n/a
                                                         New                                          Per Unit                                                                                      250           n/a
                                                         All Single Family                            Per Unit                                                                                      420           n/a
                                                         All Historic Rehab                           Per Unit                                                                                      420           n/a
Development Costs
  Pre-Development Costs                                  Tax Credit Application Fee                   Per Project - For Profit or Joint Venture                                                         4,000
                                                         Tax Credit Application Fee                   Per Project - Nonprofit                                                                           3,000
                                                         DCA Loan Application Fee                     Per Project - For Profit or Joint Venture                                                         1,000
                                                         DCA Loan Application Fee                     Per Project - Nonprofit                                                                            500
                                                         DCA Loan / LIHTC Application Fee             Per Project - For Profit or Joint Venture                                                         5,000
                                                         DCA Loan / LIHTC Application Fee             Per Project - Nonprofit                                                                           3,500
   Hard Costs                                            Rehab                                        Per unit - Properties 20 yrs old or less                                                 25,000           see UCL
                                                                                                      Per unit - Properties over 20 yrs old                                                    30,000           see UCL
   Construction Contingency                              New                                          % of Construction Hard Costs                                                               5%                7%
                                                         Rehab                                        % of Construction Hard Costs                                                               7%               10%
                                                         Historic Rehab                               % of Construction Hard Costs                                                              10%               15%
   Builder Profit                                        n/a                                          % of (Construction Hard Costs, exclusive of Contingency and Contractor Svcs)               n/a               6%
   Builder's Overhead & General Requirements             n/a                                          % of (Construction Hard Costs, exclusive of Contingency and Contractor Svcs)               n/a               8%
   Contractor Services                                   n/a                                          % of (Construction Hard Costs, exclusive of Contingency and Contractor Svcs)               n/a              14%
   LIHTC Allocation Fee                                  LIHTC Fee                                    Percent of Credit Request                                                                          7%
   4% LIHTC IRS Form 8609 Fee                            LIHTC Fee                                    Percent of Credit Request                                                                          7%
   Front-End Analysis Fee                                                                                                                                                                               2,700
   Compliance Monitoring Fee                             LIHTC Fee                                    Per Unit                                                                                  700               n/a
                                                         USDA or URFA Fee                             Per Unit                                                                                  150               n/a
   Developer's Fee                                       Identity of Interest                         % of (Total Costs - Land - Builder Profit - Devlpr Fee)                                           15%
     20% Consultant max                                  No Identity of Interest                      % of (Total Costs - Land - Developer's Fee)                                                       15%
   Operating Deficit Reserve                                                                          Mths of Year 1 Debt Service (out of 12)                                                    6                n/a
                                                                                                      Mths of Year 1 O&M Expense (out of 12)                                                     6                n/a
   Final Inspection Fee                                                                               Per Project                                                                                       3,000
Proforma Operating Forecast
   Number of Persons in Family and Percentage Adjustments for Rent Calculations                            1             2               3              4           5             6      7       8
                                                                                                          70%          80%              90%            Base       108%          116%   124%    132%
   Revenue Growth Rate                                                                                Per Operation Year                                                                                  2%
   V&C Loss Rate (Non-PBRA/USDA)                                                                      Per Operation Year                                                                                  7%
   V&C Loss Rate (PBRA/USDA)                                                                          Per Operation Year                                                                                  7%
   Operating Expense Growth Rate                                                                      Per Operation Year                                                                                  3%
Replacement Reserve Annual Payment Growth Rate   Per Operation Year   3%
Operating Reserve Annual Payment Growth Rate     Per Operation Year   0%

				
DOCUMENT INFO
Description: Lease Contract Addendum document sample