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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)
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March 2010 Application Tabs Checklist 1 of 63
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)
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March 2010 Application Tabs Checklist 2 of 63
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
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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
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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
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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
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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
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Georgia Department of Community Affairs 2010 Funding Application Office of Affordable Housing
PART ONE - PROJECT INFORMATION - 2010-0 , , County
Historic Rehab
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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
VII. SET ASIDES
A. Competitive Round Set-Aside(s): Nonprofit Rural CHDO
Preservation Special Needs
B. Other (non-Competitive) Supplemental
VIII. 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
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Georgia Department of Community Affairs 2010 Funding Application Office of Affordable Housing
PART ONE - PROJECT INFORMATION - 2010-0 , , County
IX. 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
X. 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
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Georgia Department of Community Affairs 2010 Funding Application Office of Affordable Housing
PART ONE - PROJECT INFORMATION - 2010-0 , , County
XI. 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
XII. APPLICANT COMMENTS AND CLARIFICATIONS XV. DCA COMMENTS - DCA USE ONLY
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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
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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
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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
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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, 5. Has this entity ever
1. Is 3. Does this entity have 4. Does this entity have
principal, or agent for been debarred or 6. Applicable
this an identity of interest with an identity of interest 7. Project
this entity ever been suspended from any local, Organizational
Participant entity a any other entity in this with any member, officer, Ownership
convicted of a felony state, or federal housing Type (For Profit,
MBE/ chart? If yes, attach or employee of DCA? If Percentage
(Yes or No)?. If yes, program? If yes, attach Nonprofit, CHDO)
WBE? explanation. yes, attach explanation.
attach explanation. 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
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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
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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
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Georgia Department of Community Affairs 2010 Funding Application Office of Affordable Housing
PART THREE - SOURCES OF FUNDS - 2010-0 , , County
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part III A-Sources of Funds 18 of 63
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 19 of 63
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 20 of 63
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 21 of 63
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
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part IV-Uses of Funds 22 of 63
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 - - - - -
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part IV-Uses of Funds 23 of 63
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!
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part IV-Uses of Funds 24 of 63
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!
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part IV-Uses of Funds 25 of 63
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.
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part IV-Uses of Funds 26 of 63
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
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part V-Utility Allowances page 27 of 63
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 -
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part VI-Revenues & Expenses 28 of 63
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 0
- - - - - - income 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
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part VI-Revenues & Expenses 29 of 63
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 - - - - - - - - - -
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part VI-Revenues & Expenses 30 of 63
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.
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part VI-Revenues & Expenses 31 of 63
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 C C C
Choose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee
C C C C C C
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
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part VII-Pro Forma 32 of 63
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 C C C
Choose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee
C C C C C C
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
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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 C C C
Choose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee
C C C C C C
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
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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 C C C C
Choose mgt fee hoose mgt fee hoose mgt fee hoose mgt fee hoose 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
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part VII-Pro Forma 35 of 63
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
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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.)
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part VIII-Threshold Criteria 37 of 63
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:
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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
1)
property 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:
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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:
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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:
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part VIII-Threshold Criteria 41 of 63
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:
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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:
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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:
477271bb-f4f7-4c5b-9d82-9d7e32d4b5f7.xls - March Part VIII-Threshold Criteria 44 of 63
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:
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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 E.
its 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:
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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 A.
within 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:
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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:
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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:
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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
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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:
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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:
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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:
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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:
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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:
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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:
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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:
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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
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[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 59 of 63
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 60 of 63
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%
Maximum is project-specific
Maximum is project-specific
Maximum is project-specific
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