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2009-005 Powell Place - Georgia Department of Community Affairs _DCA_

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					       Georgia Department of Community Affairs                                                                                                                  Office of Affordable Housing
                                           2009 Application Binder Tabs Checklist For: 2009-005, Powell Place Apartments, Lamar 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                                                                                                               Yes
1 Project Overview                                        Completed Core Application (Parts I through X)                                                                                                     Yes
                                                          Documents from USDA indicating project is located in rural area (if applicable)                                                                    Yes
                                                          Project Narrative / Project Concept                                                                                                                Yes
                                                          Copy of Tax Exempt Bond Inducement Resolution, if applicable                                                                                       N/a
                                                          Master Planned Community Documentation                                                                                                             N/a

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

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



       2009 OAH Funding Application - April                                          Application Tabs Checklist                                                                              1 of 1038
       Georgia Department of Community Affairs                                                                                                                  Office of Affordable Housing
                                          2009 Application Binder Tabs Checklist For: 2009-005, Powell Place Apartments, Lamar 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                                                                                                         N/a
                                                         Amenities Pre-Approval                                                                                                                 N/a
                                                         Other Tenancy Approvals                                                                                                                N/a
                                                         Tenancy Characteristic Waiver Approval                                                                                                 N/a
                                                         3rd Party Investment in Offsite Amenities Approval                                                                                     N/a
      THRESHOLD DOCUMENTATION
5 Financing Commitments                                  Preliminary Financing Commitments - Debt, Equity, Historic Rehab Credits & Grants (if applicable)                                      Yes
                                                         CDBG documentation, if applicable                                                                                                      N/a
                                                         NSP Reservation and commitments, if applicable                                                                                         N/a
                                                         AHP Commitment and loan documents, if applicable                                                                                       N/a
                                                         Permanent Supportive Housing documentation, if applicable                                                                              N/a
                                                         Documentation of Applicable Index Rate (for interest rates tied to an index), if applicable                                            N/a
                                                         DCA HOME Loan consent pursuant to the pre-application process, if applicable                                                           Yes
                                                         Operating Subsidy Agreements, if applicable                                                                                            N/a
                                                         HUD Under Consideration Letter & Lender Preliminary Commitment for HUD 221(d)3 or (d)4 Program, if applicable                          N/a
                                                         HUD Invitation to Submit (submit by 7/1/09), if applicable                                                                             N/a
                                                         USDA documentation, if applicable                                                                                                      N/a
                                                         Tax Abatement documentation, if applicable                                                                                             N/a
                                                         Evidence of PBRA Agreements, if applicable                                                                                             N/a

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

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

8 Additional Feasibility documents                       Documentation back up for construction costs, insurance and taxes                                                                      Yes
                                                         20% Developer fee Approval for Green Building                                                                                          N/a
                                                         DCA Operating expense waiver approval                                                                                                  N/a
                                                         DCA Per unit cost limit waiver approval                                                                                                N/a
                                                         DCA 30% boost approval/copy of preapplication narrative                                                                                Yes

9 Market Feasibility                                     Market Study for proposed site                                                                                                         Yes

10 Appraisal                                             Applicant Commissioned Appraisal (if applicable)                                                                                       N/a




       2009 OAH Funding Application - April                                          Application Tabs Checklist                                                                    2 of 1038
       Georgia Department of Community Affairs                                                                                                                       Office of Affordable Housing
                                          2009 Application Binder Tabs Checklist For: 2009-005, Powell Place Apartments, Lamar 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                            DCA Noise Waiver Approval (if applicable)                                                                                                              N/a
                                                         Phase I Environmental Study (including all appendices in the format prescribed in the Environmental Manual)                                            Yes
                                                         Phase II Environmental Study (if applicable)                                                                                                           Yes

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

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

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

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

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



       2009 OAH Funding Application - April                                          Application Tabs Checklist                                                                                    3 of 1038
       Georgia Department of Community Affairs                                                                                                                    Office of Affordable Housing
                                          2009 Application Binder Tabs Checklist For: 2009-005, Powell Place Apartments, Lamar 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)                                                                     Yes
   (All Projects New AND Rehab)                          Conceptual Site Development Plan of the property                                                                                                   Yes
                                                         Site Maps & Photographs (photos must be color in all copies)                                                                                       Yes
                                                         Aerial Photos of proposed site                                                                                                                     Yes

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

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

21 Marketing to Special Needs Tenants                    Marketing Plan outlining how the project will market units to tenants with special needs                                                           Yes
                                                         description of access to supportive services, transportation, and community amenities                                                              Yes
                                                         Identify service providers that can provide referrals to the project                                                                               Yes
                                                         Agreement to require management to regularly contact local service provider                                                                        Yes
                                                                                                                                                                                                            Yes
      SCORING DOCUMENTATION
22 Desirable / Undesirable Characteristics               Desirable/Undesirable Form                                                                                                                         Yes
                                                         A site map indicating the specific locations of each desirable and undesirable activity/ characteristics                                           Yes
                                                         Photographs of the desirable and undesirable activities/characteristics                                                                            Yes
                                                         Documentation from the owner of the site on which the undesirable condition exists or from a third party government source documenting how such    N/a
                                                         change will occur and the time frame
                                                         Documentation that evidences the desirable activity/characteristic that will be located in sites under construction                                N/a



       2009 OAH Funding Application - April                                          Application Tabs Checklist                                                                                4 of 1038
       Georgia Department of Community Affairs                                                                                                                       Office of Affordable Housing
                                          2009 Application Binder Tabs Checklist For: 2009-005, Powell Place Apartments, Lamar 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                                                             N/a
                                                         Aerial photos of the proposed site per architectural submittal instructions                                                                                Yes

24 Community Transportation                              Documentation that the project is designated as a Transit Oriented Development from the local Transit Authority                                            N/a
                                                         Map showing the location of the Rapid Rail Transit station in relation to the proposed development site                                                    N/a

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

26 Brownfield                                            Evidence of designation as a Brownfield site                                                                                                               N/a
                                                         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    N/a

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

27 Greyfield                                             Documentation of current use of the vacant or abandoned center                                                                                             N/a
                                                         90% of square footage documentation                                                                                                                        N/a
                                                         Documentation of associated parking areas                                                                                                                  N/a

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

29 Sustainable Building Certification                    Scoring worksheets for the applicable program showing the intended path towards certification                                                              Yes

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

31 Neighborhood Stabilization                            Pictures of proposed site site and surrounding area                                                                                                        N/a
                                                         Copy of Foreclosure documents, if applicable                                                                                                               N/a
                                                         Evidence from the mortgage lender and/or tax authority that payments have been delinquent for 90 days and that foreclosure proceedings have been           N/a
                                                         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         N/a
                                                         neighborhood
                                                         Narrative of how the project promotes the purposes of the Neighborhood Stabilization                                                                       N/a




       2009 OAH Funding Application - April                                          Application Tabs Checklist                                                                                    5 of 1038
       Georgia Department of Community Affairs                                                                                                                                 Office of Affordable Housing
                                           2009 Application Binder Tabs Checklist For: 2009-005, Powell Place Apartments, Lamar 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
32 Redevelopment Plans / QCT                              Copy of the Plan                                                                                                                                                  N/a
                                                          Website address where information regarding the plan can be located                                                                                               N/a
                                                          Evidence of plan adoption                                                                                                                                         N/a
                                                          Documentation of Public Hearing and Publication if required by statute                                                                                            N/a
                                                          Copy of Resolution adopting the state enterprise zone                                                                                                             N/a
                                                          Documentation evidencing that the proposed site is located in a QCT/DDA                                                                                           N/a
                                                          The DCA Neighborhood Redevelopment Certification Form                                                                                                             N/a
                                                          Narrative and documentation of the process the government used for developing and adopting the plan.                                                              N/a
                                                          Details regarding community input and public hearings held prior to the adoption of the plan must be included in the Application                                  N/a
                                                          Map of area targeted by plan identifying location of project                                                                                                      N/a

33 Stable Communitities                                   FFIEC Census Report showing demographics, income and housing statistics                                                                                           N/a

34 Tenant Ownership                                       Copy of plan                                                                                                                                                      N/a

35 Historic Designation                                   Documentation of project site listed in the National Register of Historic Places                                                                                  N/a
                                                          Documentation of buildings on the project site are located either in a "registered historic district" or in potentially eligible district, including a State      N/a
                                                          SHPO nomination letter/approval

36 Resolution of Support                                  Resolution of Support                                                                                                                                             Yes
                                                          Evidence of Adoption of Resolution                                                                                                                                Yes
                                                          Letter from elected official in the DCA format                                                                                                                    Yes
                                                          Charter (if applicable)                                                                                                                                           N/a
                                                          Letter executed by Official Representative                                                                                                                        N/a

37 DCA Community Initiatives                              Letter from Chief Officer                                                                                                                                         Yes
                                                          Copy of Community Plan                                                                                                                                            Yes

38 DCA Optional Points for Superior Project Concept Narrative, not more than two pages, along with supporting documentation                                                                                                 Yes

39 Other
   (Provide name of each item
   and what section it is
   needed for)



                Note: Additional Forms and Documentation required for the 2009 Application Submittal may be obtained on the DCA website at
                                    http://www.dca.state.ga.us/housing/HousingDevelopment/programs/QAP2009docs.asp



       2009 OAH Funding Application - April                                            Application Tabs Checklist                                                                                              6 of 1038
Georgia Department of Community Affairs                                          2009 Funding Application                                                        Office of Affordable Housing
                                      PART ONE - PROJECT INFORMATION - 2009-005 Powell Place Apartments, Barnesville, Lamar 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.                            2009-005

   I.       DCA RESOURCES                        LIHTC (auto-filled based on later entries)           $            801,948                  DCA 2009 Pre-app Nbr,               PA09-29
                                                 DCA HOME (Pre-Application amount)                    $          1,000,000                  if pre-app was submitted:

   II.      TYPE OF APPLICATION                  Competitive Round                           Other:

   III.     APPLICANT CONTACT FOR APPLICATION REVIEW
            Name                                 Allan Rappuhn                                                                         Title       President
            Address                              920 Florence Blvd                                                                     Direct Line                      (256) 760-9657
            City                                 Florence                                                                              Fax                                  (256) 767-5804
            State                                AL                                        Zip+4          35630-0000                   Cellular                         (256) 335-4030
            Office Phone                         (256) 760-9657                             Ext.                 E-mail       arappuhn@gatewaymgt.com
            (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)

   IV.      PROJECT LOCATION
            Project Name                         Powell Place Apartments                                                                    Phased Project?             No
            Site Street Address                  Trojan Way                                                                                 Scattered Site?             No
            City                                 Barnesville                                 Zip+4
                                                                                        , Georgia       30204-0000                          Acreage                     8
            Within City Limits?                  Yes                                         County Lamar                                   Census Tract #              9703
            In USDA Rural Area?                  Yes                   HUD MSA/NonMSA name Lamar Co.                                        QCT?         No                    DDA? No
                                                       Congressional            State Senate              State House
            Legislative Districts                           3                        16                       125
            If on boundary, other district:
            Political Jurisdiction               City of Barnesville
            Name of Chief Elected Official       Peter L. Banks                                                      Title    Mayor
            Address                              109 Forsyth Street                                                  City     Barnesville
            Zip+4                                30204-0000                  Phone                  (770) 358-0181               Fax            (770) 358-0185

   V.       PROJECT DESCRIPTION
          A. Mixed Use                                 No

          B. Type of Construction:
             New Construction                          64
             Adaptive Reuse
             Acquisition/Rehab
             Substantial Rehab
             Historic Rehab




2009 OAH Funding Application - April                                              Part I-Project Information                                                                              7 of 1038
Georgia Department of Community Affairs                                       2009 Funding Application                                                        Office of Affordable Housing
                                     PART ONE - PROJECT INFORMATION - 2009-005 Powell Place Apartments, Barnesville, Lamar County

           C. Unit Breakdown                                                              # of                 D. Unit Area
              Number of Low Income Units                                    63           PBRA                     Total Low Income Residential Square Footage                 63,115
                          Number of 50% Units                               11
                          Number of 60% Units                               52
              Number of NSP 120% Units                                                                           Total NSP 120% Residential Square Footage
              Number of Unrestricted Units                                                                       Total Unrestricted Residential Square Footage
              Total Residential Units                                       63                                   Total Residential Square Footage                             63,115
              Common Space Units                                            1                                    Total Common Space Square Footage from Units                  965
              Total Units                                                   64                                   Total Square Footage from Units                              64,080
           E. Buildings Number of Residential Buildings                      8                                   Non-Residential SF from Units (Common Space)                  965
                        Number of Non-Residential Buildings                  1                                   Non-Residential SF NOT from Units (Common Space)
                        Total Number of Buildings                            9                                   Total Non-Residential Square Footage                          965
           F. Total Residential Parking Spaces (min 1.5 per unit)           128

   VI.       TENANCY CHARACTERISTICS
           A. Family or Senior                                           Family                                  If Other, specify:
           B. Mobility Impaired                 Nbr of Units Equipped:       4                                   % of Total Units                                              6.3%
           C. Sight / Hearing Impaired          Nbr of Units Equipped:       2                                   % of Total Units                                              3.1%

   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                    Yes
           C. Neighborhood Stabilization Funds (NSP)                                                               40% of Residential Units at 50% of AMI                       No

   VII.      SET ASIDES
           A. Competitive Round Set-Aside(s):                                          Nonprofit                     Yes        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




2009 OAH Funding Application - April                                              Part I-Project Information                                                                     8 of 1038
Georgia Department of Community Affairs                                       2009 Funding Application                                                      Office of Affordable Housing
                                     PART ONE - PROJECT INFORMATION - 2009-005 Powell Place Apartments, Barnesville, Lamar 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:                                 2
         B. Amount of Federal Tax Credits in All Applications:           1,546,683                             Are you claiming Tier 1 Entity points for this application?    No
         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
            Gateway Construction Corp.          Woodlawn Terrace Apartments




         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
            Gateway Construction                Azalea Mill Cottages




   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


2009 OAH Funding Application - April                                              Part I-Project Information                                                                   9 of 1038
Georgia Department of Community Affairs                                        2009 Funding Application                                                     Office of Affordable Housing
                                    PART ONE - PROJECT INFORMATION - 2009-005 Powell Place Apartments, Barnesville, Lamar County

   XI.     ADDITIONAL PROJECT INFORMATION
        A. PHA Units
           Is proposed project part of a local public housing replacement program?                                No
           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?                   No       If yes, expiration year:                  Nbr yrs to forgo cancellation option:
        C. Is there a Tenant Ownership Plan?                                         No
        D. Is the Project Currently Occupied?                                        No
           Total Existing Units
           Number Occupied
           % Existing Occupied
        E. Waivers / Pre-Approvals - have the following waivers / pre-approvals been approved by DCA?
           Per-Unit Cost Limit?                                                      No      ---------------------------> If Yes, new Limit is:
           Operating Expense?                                                        No      ---------------------------> If Yes, new Limit is:
           Amenities?                                                                No                                     Other Tenancy?                                      No
           Architectural Standards?                                                  No                                     Probationary Experience Participation?              No
           Experience: Owner?           Yes      Developer?     Yes     Manager?     Yes                                    Service Requirement (for small rural projects)      No
           HOME Reservation?                                                         Yes                                    State-Designated 30% Basis Boost?                   Yes
           Payment & Performance Bond?                                               No                                     20% Developer Fee?                                  No
           Noise?                                                                    No                                     3rd Party Investment in Off-Site Amenities?         No
           Other (specify waiver):                                                   No                                     Special Needs?                                      No
        F. Projected Place-In-Service Date
           Acquisition
           Rehab
           New Construction                                                       May 15, 2011
   XII.    APPLICANT COMMENTS AND CLARIFICATIONS                                                             XV.            DCA COMMENTS - DCA USE ONLY




2009 OAH Funding Application - April                                            Part I-Project Information                                                                      10 of 1038
  Georgia Department of Community Affairs                                                  2009 Funding Application                                         Office of Affordable Housing

                                    PART TWO - DEVELOPMENT TEAM INFORMATION - 2009-005 Powell Place Apartments, Barnesville, Lamar County

I. OWNERSHIP INFORMATION

  A. OWNERSHIP ENTITY                    Powell Place Apartments, LP                                                        Name of Principal Allan Rappuhn
        Office Street Address            920 Florence Blvd.                                                                 Title of Principal Managing Member
        City                             Florence                               Fed Tax ID: Applied for                     Direct line
        State                                 AL        Zip+4              35630-0000       ENTER THE 4_DIGIT EXTENSION!!!!!Cellular           (256) 335-4030
        10-Digit Office Phone / Ext.     (256) 760-9657                             Fax          (256) 767-5804     E-mail arappuhn@gatewaymgt.com
          (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)
  B. PROPOSED PARTNERSHIP INFORMATION

     1. GENERAL PARTNER(S)
       a. Managing Gen'l Partner         Gateway Powell Place, LLC                                                            Name of Principal Allan Rappuhn
          Office Street Address          920 Florence Blvd.                                                                   Title of Principal Managing Member
          City                           Florence                                                                             Direct line
          State                               AL        Zip+4              35630-0000                                         Cellular           (256) 335-4030
          10-Digit Office Phone / Ext.   (256) 760-9657                             Fax               (256) 767-5804   E-mail arappuhn@gatewaymgt.com
       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      TBD                                                                                      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        TBD                                                                                      Name of Principal
          Office Street Address                                                                                                 Title of Principal
          City                                                                                                                  Direct line
          State                                           Zip+4                                                                 Cellular
          10-Digit Office Phone / Ext.                                                 Fax                             E-mail

     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




  2009 OAH Funding Application - April                                                     Part II-Development Team                                                          11 of 1038
  Georgia Department of Community Affairs                                          2009 Funding Application                                            Office of Affordable Housing

                                  PART TWO - DEVELOPMENT TEAM INFORMATION - 2009-005 Powell Place Apartments, Barnesville, Lamar County

II. DEVELOPER(S)

  A. DEVELOPER                           Gateway Construction Corporation                                              Name of Principal Allan Rappuhn
         Office Street Address           920 Florence Blvd.                                                            Title of Principal President
         City                            Florence                                                                      Direct line
         State                                AL        Zip+4          35630-0000                                      Cellular           (256) 335-4030
         10-Digit Office Phone / Ext.    (256) 760-9657                         Fax            (256) 767-5804   E-mail arappuhn@gatewaymgt.com
  B. CO-DEVELOPER 1                      Gateway Properties, LLC                                                       Name of Principal Allan Rappuhn
         Office Street Address           920 Florence Blvd.                                                            Title of Principal Member
         City                            Florence                                                                      Direct line
         State                                AL        Zip+4            35630-0000                                    Cellular           (256) 335-4030
         10-Digit Office Phone / Ext.    (256) 760-9657                           Fax          (256) 767-5804   E-mail arappuhn@gatewaymgt.com
  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

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                  Park Lane Construction LLC                                                    Name of Principal Scott Parker
         Office Street Address           109 Village Street                                                            Title of Principal Member
         City                            Birmingham                                                                    Direct line
         State                               AL          Zip+4           35242-0000                                    Cellular
         10-Digit Office Phone / Ext.    (205) 995-5658                           Fax          (205) 995-9168   E-mail scott.parker@parklaneconstruction.com
  C. MANAGEMENT COMPANY                  Hall Housing Investments Inc.                                                 Name of Principal Gary Hall
        Office Street Address            P.O. Box 6657                                                                 Title of Principal President
        City                             Dothan                                                                        Direct line
        State                                 AL         Zip+4           36302-6657                                    Cellular
        10-Digit Office Phone / Ext.     (334) 794-2678                           Fax          (334) 702-1360   E-mail ghall001@aol.com
  D. ATTORNEY                            Coleman, Talley, Newburn, Kurrie, Rreston & Holland                           Name of Principal Thompson Kurrie
         Office Street Address           910 N. Patterson Street                                                       Title of Principal Partner
         City                            Valdosta                                                                      Direct line
         State                               GA         Zip+4           31603-4531                                     Cellular           (229) 548-4476
         10-Digit Office Phone / Ext.    (229) 242-7562                           Fax          (229) 333-0885   E-mail tom.kurrie@colemantalley.com



  2009 OAH Funding Application - April                                             Part II-Development Team                                                             12 of 1038
     Georgia Department of Community Affairs                                                                  2009 Funding Application                                                         Office of Affordable Housing

                                                PART TWO - DEVELOPMENT TEAM INFORMATION - 2009-005 Powell Place Apartments, Barnesville, Lamar County

     E. ACCOUNTANT                                    Donald Causey                                                                                    Name of Principal Donald Causey
            Office Street Address                     516 Walnut Street                                                                                Title of Principal Partner
            City                                      Gadsden                                                                                          Direct line
            State                                         AL         Zip+4                       35902-4232                                            Cellular
            10-Digit Office Phone / Ext.              (256) 543-3707                                      Fax            (256) 543-9800         E-mail dcausey@cybrtyme.com
     F. ARCHITECT                                     McKean & Associates                                                                              Name of Principal Rory McKean
            Office Street Address                     2815-B Zelda Road                                                                                Title of Principal President
            City                                      Montgomery                                                                                       Direct line
            State                                         AL         Zip+4                       03606-2727                                            Cellular           (334) 546-1281
            10-Digit Office Phone / Ext.              (334) 272-4044                                      Fax            (334) 244-0347         E-mail rmckean@mckeanarch.com

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

                                                                                                                                          5. Has this entity ever
                                        1. Is                                                         4. Does this entity have
                                                   2. Has any person,        3. Does this entity have                                        been debarred or
                                         this                                                           an identity of interest                                          6. Applicable
                                                principal, or agent for this  an identity of interest                                      suspended from any
                                        entity                                                            with any member,                                            Organizational Type          7. Project Ownership
              Participant                      entity ever been convicted with any other entity in                                        local, state, or federal
                                          a                                                            officer, or employee of                                       (For Profit, Nonprofit,            Percentage
                                               of a felony (Yes or No)?. If     this chart? If yes,                                        housing program? If
                                        MBE/                                                            DCA? If yes, attach                                                 CHDO)
                                                yes, attach explanation.       attach explanation.                                              yes, attach
                                        WBE?                                                                 explanation.
                                                                                                                                               explanation.
     Managing General Partner             No                      No                                    Yes                    No                   No                     For Profit                     0.0100%
     Other General Partner 1
     Other General Partner 2
     Federal Limited Partner
     State Limited Partner
     Nonprofit Sponsor
     Developer                            No                      No                                    Yes                    No                   No                     For Profit
     Co-Developer 1                       No                      No                                    Yes                    No                   No                     For Profit
     Co-Developer 2
     Owner Consultant
     Developer Consultant
     Contractor                           No                      No                                    No                     No                   No                     For Profit
     Management Company                   No                      No                                    No                     No                   No                     For Profit

V.      APPLICANT COMMENTS AND CLARIFICATIONS                                                                                             VI.          DCA COMMENTS - DCA USE ONLY
Allan Rappuhn has a common ownership interest in the developer, co-developer and the general partner.




     2009 OAH Funding Application - April                                                                     Part II-Development Team                                                                          13 of 1038
Georgia Department of Community Affairs                                                2009 Funding Application                                                            Office of Affordable Housing
                                            PART THREE - SOURCES OF FUNDS - 2009-005 Powell Place Apartments, Barnesville, Lamar County

  I.     GOVERNMENT FUNDING SOURCES (check all that apply)

            Yes      Tax Credits                 No       USDA 515                    No      Tax Exempt Bonds                          No    HOPE VI                     No        FHLB/AHP*
            Yes      DCA HOME*                   No       USDA 538                    No      Taxable Bonds                                                               No        Historic Rehab Credits
            No       Other HOME*                 No       CDBG                        No      DCA NSP* - if yes, amount:                                                  No        FHA Insured Mortgage
            No       DCA PSHP HOME*              No       FHA Risk Share              No      Other NSP* - if yes, amount:                                                No        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                                                 Sterling Bank                                                             5,744,814           7.000%                     14
         Mortgage B                                                 DCA HOME Loan                                                             1,000,000           0.000%                     14
         Mortgage C
         Federal Grant
         State, Local, or Private Grant
         Deferred Developer Fees
         Federal Housing Credit Equity                                                                                                         741,669
         State Housing Credit Equity                                                                                                           246,311
         Other Source (specify)
         Other Source (specify)
         Other Source (specify)
         Total Construction Financing:                                                                                                        7,732,794
         Total Construction Period Costs from Development Budget:                                                                             7,732,794
         Surplus/(Shortage) of Construction funds to Construction costs:                                                                              0

  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
                                            Neither                                                   0    0.000%          0           0                                   Amortizing             n/a
         Mortgage A                         DCA HOME Loan                                     1,000,000    1.000%         20          20                     56,689      DCA HOME IPS            1.15
         Mortgage B
         Other:
         Funding Source for Costs>PUCL
         Deferred Devlpr Fee       0.07%  Gateway Construction Corporation                          762     0.000%         1            1                       762         Cash Flow               n/a
         Federal Grant
         State, Local, or Private Grant                                                                   % of TDC
         Federal Housing Credit Equity                                                        5,613,077     65%                               Proposed DCA HOME Loan Interest Rate by Operating
         State Housing Credit Equity                                                          2,004,670     23%                                         Year for Projects in Rural Areas:
         Historic Credit Equity                                                                             88%                                 Year:      1 -7          8          9        10
         Invstmt Earnings: T-E Bonds                                                                                                            Rate:    1.000%      1.000%     1.000%    1.000%
         Invstmt Earnings: Taxable Bonds                                                                                                         11        12           13         14        15
         Income from Operations                                                                                                                1.000%    1.000%      1.000%     1.000%    1.000%
         Other:                                                                                                                                   16        17          18         19        20
         Other:                                                                                                                                1.000%    1.000%      1.000%     1.000%    1.000%
         Other:                                                                                                                                   21        22          23         24        25
         Total Permanent Financing:                                                     8,618,509
         Total Development Costs from Development Budget:                               8,618,509                                                 26          27          28           29            30
         Surplus/(Shortage) of Permanent funds to development costs:                        0



2009 OAH Funding Application - April                                                    Part III A-Sources of Funds                                                                                 14 of 1038
Georgia Department of Community Affairs                                 2009 Funding Application                                     Office of Affordable Housing
                                       PART THREE - SOURCES OF FUNDS - 2009-005 Powell Place Apartments, Barnesville, Lamar County


  IV.   APPLICANT COMMENTS AND CLARIFICATIONS                                             IV.          DCA COMMENTS - DCA USE ONLY




2009 OAH Funding Application - April                                     Part III A-Sources of Funds                                                   15 of 1038
                               2009 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
        PART III B: USD 538 LOAN - 2009-005 Powell Place Apartments, Barnesville, Lamar 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                                            16 of 1038
                               2009 Office of Affordable Housing Funding Application
                                   USDA 538 Guaranteed Loan Calculations
                                2009-005 Powell Place Apartments, Barnesville, Lamar 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                              17 of 1038
                                  2009 Office of Affordable Housing Funding Application
                                      HUD Insured Mortgage Loan Calculations
    PART III C - HUD INSURED LOAN - 2009-005 Powell Place Apartments, Barnesville, Lamar 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 18 of 1038
   Georgia Department of Community Affairs          2009 OAH Funding Application
                  PART III D - HOME ALLOCATION WORKSHEET - 2009-005 Powell Place Apartments, Barnesville, Lamar County

                                                                                Method I

  HOME Subsidy                                              Per Unit HOME    Proposed Nbr. of                                 Per Unit HOME                      Min Required
  Limitation               Unit Type                         Subsidy Limit     HOME Units                                     Subsidy Totals                     HOME Units
  (See Threshold           Efficiency                          $102,000                                                             $0                                 8
  Section 1 - Feasibility, 1 Bedroom                           $117,000               3                                          $351,000
  Part M)                  2 Bedroom                           $142,000               3                Total Per-Unit            $426,000
                           3 Bedroom                           $184,000               3                HOME Subsidy              $552,000
                           4+ Bedroom                          $202,000                                Limit for                    $0
                                                                                      9                Project:                 $1,329,000

                                                                                Method II
                                                                                                              Check
  Number of HOME Units Specified in Application                                       9                        9
  Number of Total Units Specified in Application                                     64                       64
  HOME Percent of Total Units                                                     14.063%                  14.063%          (Formula: HOME Percent of Total Units = # Home Units /
                                                                                                                            # Total Units)
  Total Development Costs (TDC)                                                  $8,618,509               $8,618,509
  Reserves Held for more than 18 months:
   Operating Deficit Reserve                                                       $93,417                  $93,417
   Other
   Other
  Total HOME Eligible Costs                                                      $8,525,092               $8,525,092

                                                                        Eligible HOME Amount

  Eligible HOME Amount is the Lesser of Method I or II                           $1,329,000            Maximum DCA HOME loan is $2,500,000
   (or Amount the project Needs for Feasibility, if less)
  Requested HOME Loan Amount (HOME Investment)                                   $1,000,000            When submitted at Application Deadline, this amount must match the amount
  Per Unit HOME Investment                                                        $111,111             shown on the DCA HOME Loan Consent Approval Letter.

  HOME Investment Proportion of Total HOME Eligible Cost                          11.730%              (Formula: HOME Investment Proportion of Total Eligible Cost = Total HOME
                                                                                                       Request (Investment) / Total HOME Eligible Costs)


Applicant Comments                                                                                    DCA Comments




   2009 OAH Funding Application - April                                  Part III-D HOME Allocation
Georgia Department of Community Affairs                                         2009 Funding Application                                          Office of Affordable Housing

                                              PART FOUR - USES OF FUNDS - 2009-005 Powell Place Apartments, Barnesville, Lamar County

                                                          CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

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

     PRE-DEVELOPMENT COSTS                                                                                            PRE-DEVELOPMENT COSTS
     Property Appraisal                                                            10,000                  10,000
     Market Study                                                                   5,000                   5,000
     Environmental Report(s)                                                        8,250                   8,250
     Soil Borings                                                                   5,000                   5,000
     Boundary and Topographical Survey                                             13,500                                                                              13,500
     Zoning/Site Plan Fees                                                            250                    250
     Other:
     Other:
     Other:
                                                                  Subtotal         42,000                  28,500             -                     -                  13,500

     ACQUISITION                                                                                                              ACQUISITION
     Land                                                                         280,000                                                                            280,000
     Demolition
     Acquisition Legal Fees (if existing structures)
     Existing Structures
                                                                  Subtotal        280,000                                     -                                      280,000

     SITE IMPROVEMENTS                                                                                                    SITE IMPROVEMENTS
     Site Preparation (On-site)                                                   320,000                 320,000
     Site Preparation (Off-site)
                                                                  Subtotal        320,000                 320,000             -                     -                     -

     UNIT/BUILDING CONSTRUCTION*                                                                                    UNIT/BUILDING CONSTRUCTION*
     Unit/Building Construction/New Construction                                4,640,000             4,640,000
     Unit/Building Construction/Rehab
     Project Amenities / Accessory Buildings
     Other:
     Construction Contingency                                                     282,720               282,720
                                                                  Subtotal      4,922,720             4,922,720               -                     -                     -

     CONTRACTOR SERVICES                                                                                                CONTRACTOR SERVICES
     Builder's Overhead:                 2.00%                     99,200          99,200                  99,200
     Builder Profit:                     6.00%                    297,600         297,600                 297,600
     General Requirements                6.00%                    297,600         297,600                 297,600
             includes
             Payment/performance bond or
             letter-of-credit fee or premium                      Subtotal        694,400                 694,400             -                     -                     -
     Total Construction Costs               88,350.00 per unit
     5,654,400.00                               88.24 per sq ft




2009 OAH Funding Application - April                                              Part IV-Uses of Funds                                                             20 of 1038
Georgia Department of Community Affairs                                    2009 Funding Application                                             Office of Affordable Housing

                                            PART FOUR - USES OF FUNDS - 2009-005 Powell Place Apartments, Barnesville, Lamar County

                                                      CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

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

     CONSTRUCTION PERIOD FINANCING                                                                              CONSTRUCTION PERIOD FINANCING
     Construction Loan Fee                                                    57,448                   57,448
     Construction Loan Interest                                              321,710                  321,710
     Construction Legal Fees                                                  15,000                   15,000
     Construction Period Real Estate Tax                                      15,000                   15,000
     Construction Insurance                                                   21,000                   21,000
     Bridge Loan Fee and Bridge Loan Interest
     Other:
                                                            Subtotal         430,158                  430,158              -                      -                     -

     PROFESSIONAL SERVICES                                                                                           PROFESSIONAL SERVICES
     Architectural Fee - Design                                               76,800                   76,800
     Architectural Fee - Supervision                                          38,400                   38,400
     Engineering                                                              35,000                   35,000
     Real Estate Attorney                                                     40,000                   40,000
     Accounting                                                                7,500                    7,500
     Other:
                                                            Subtotal         197,700                  197,700              -                      -                     -
     LOCAL GOVERNMENT FEES                                                                                          LOCAL GOVERNMENT FEES
     Building Permits                                                         80,000                   80,000
     Impact Fees
     Water Tap Fees    waived?                            No                  96,000                   96,000
     Sewer Tap Fees    waived?                            No                  96,000                   96,000
                                                            Subtotal         272,000                  272,000              -                      -                     -
     PERMANENT FINANCING FEES                                                                                      PERMANENT FINANCING FEES
     Permanent Loan Fees                                                      10,000                                                                                 10,000
     Permanent Loan Legal Fees                                                15,000                                                                                 15,000
     Title and Recording Fees                                                 21,546                   21,546
     As-Built Survey                                                          15,000                   15,000
     Bond Issuance Premium
     Cost of Issuance / Underwriter's Discount
     Other:
                                                            Subtotal          61,546                   36,546              -                      -                  25,000




2009 OAH Funding Application - April                                          Part IV-Uses of Funds                                                               21 of 1038
Georgia Department of Community Affairs                                      2009 Funding Application                                          Office of Affordable Housing

                                          PART FOUR - USES OF FUNDS - 2009-005 Powell Place Apartments, Barnesville, Lamar County

                                                     CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

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

     DCA-RELATED COSTS                                                                                                   DCA-RELATED COSTS
     DCA HOME Loan Pre-Application Fee                                            500                                                                                  500
     Tax Credit Application Fee                                                 4,000                                                                                4,000
     DCA Waiver Fees
     LIHTC Allocation Processing Fee                            56,136         56,136                                                                               56,136
     LIHTC Compliance Monitoring Fee                            44,800         44,800                                                                               44,800
     DCA Front End Analysis Fee (HOME, when ID of Interest)                     6,000                                                                                6,000
     DCA Final Inspection Fee                                                   3,000                                                                                3,000
     Other:
                                                              Subtotal        114,436                                                                             114,436

     EQUITY COSTS                                                                                                           EQUITY COSTS
     Partnership Organization Fees                                                500                                                                                  500
     Tax Credit Legal Opinion                                                   2,000                                                                                2,000
     Syndicator Legal Fees
     Other:
                                                              Subtotal          2,500                                                                                2,500
     DEVELOPER'S FEE                                                                                                      DEVELOPER'S FEE
     Developer's Overhead                                                     543,816                  543,816
     Consultant's Fee
     Developer's Fee                                                          543,816                543,816
                                                              Subtotal      1,087,632              1,087,632                 -                   -                     -
     START-UP AND RESERVES                                                                                            START-UP AND RESERVES
     Marketing                                                                 30,000                                                                               30,000
     Rent-Up Reserves                                                          30,000                                                                               30,000
     Operating Deficit Reserve:                                                93,417                                                                               93,417
     Replacement Reserve
     Furniture, Fixtures and Equipment                                         40,000                   40,000
     Other:
                                                              Subtotal        193,417                   40,000               -                   -                153,417
     OTHER COSTS                                                                                                            OTHER COSTS
     Relocation
     Other:
     Other:
                                                              Subtotal            -                        -                 -                   -                     -

     TOTAL DEVELOPMENT COST                                                 8,618,509              8,029,656                 -                   -                588,853

     Total Per Unit Cost Limitation:                                      9,896,000         TDC Breakdown:       Per Unit                  134,664.20
     Per Unit Cost Limitation Waiver Amount:                                  0                                  Per Square Foot               134.50




2009 OAH Funding Application - April                                           Part IV-Uses of Funds                                                             22 of 1038
Georgia Department of Community Affairs                                               2009 Funding Application                                                 Office of Affordable Housing

                                               PART FOUR - USES OF FUNDS - 2009-005 Powell Place Apartments, Barnesville, Lamar County

                                                              CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
II.    TAX CREDIT CALCULATION - BASIS METHOD                                                            New Construction    4% Acquisition          Rehabilitation
                                                                                                             Basis              Basis                  Basis
       Subtractions From Eligible 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                                                                                          8,029,656             0                        0
       Less Total Subtractions From Basis (see above)                                                            0                                         0
       Total Eligible Basis                                                                                 8,029,656             0                        0
       Eligible Basis Adjustment for DDA/QCT Location or State Designated 30% Basis Boost                    130.00%
       Adjusted Eligible Basis                                                                              10,438,553            0                        0
       Multiply Adjusted Eligible Basis by Applicable Fraction                                               100.00%           100.00%                 100.00%
       Qualified Basis                                                                                      10,438,553            0                        0
       Multiply Qualified Basis by Applicable Credit Percentage                                               9.00%
       Maximum Tax Credit Amount                                                                             939,470              0                        0
       Total Basis Method Tax Credit Calculation                                                                               939,470

III.   TAX CREDIT CALCULATION - GAP METHOD
       Equity Gap Calculation                                                                                                Maximum TDC:

       Total Development Cost (<=DCA Wvr or PUCL; explain in Comments if TDC > PUCL w/o DCA Wvr Approval)      8,618,509      8,618,509
       Subtract Non-Tax Credit (excluding deferred fee) Source of Funds                                        1,000,000
       Equity Gap                                                                                              7,618,509
       Divide Equity Gap by 10                                                                                       / 10
       Annual Equity Required                                                                                    761,851                 Federal                 State
       Enter Final Federal and State Equity Factors (not including GP contribution)                              0.9500       =          0.7000       +         0.2500
       Total Gap Method Tax Credit Calculation                                                                   801,948


IV.    TAX CREDIT ALLOCATION                                                                                     801,948           Lower credit amount, if requested:




2009 OAH Funding Application - April                                                     Part IV-Uses of Funds                                                                   23 of 1038
Georgia Department of Community Affairs                                                                       2009 Funding Application                                            Office of Affordable Housing

                                                            PART FOUR - USES OF FUNDS - 2009-005 Powell Place Apartments, Barnesville, Lamar County

                                                                            CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
V.     APPLICANT COMMENTS AND CLARIFICATIONS                                                                                                  VI.   DCA COMMENTS - DCA USE ONLY
Construction Hard Costs for the proposed product type held at about $85,000 per unit. We have added approximately $3,000 per unit for Green
Building techniques as estimated by our contractor.




2009 OAH Funding Application - April                                                                              Part IV-Uses of Funds                                                             24 of 1038
Georgia Department of Community Affairs                             2009 Funding Application                                            Office of Affordable Housing




                       PART FIVE - UTILITY ALLOWANCES - 2009-005 Powell Place Apartments, Barnesville, Lamar County

   I. UTILITY ALLOWANCE SCHEDULE #1                      Source of Utility Allowances            DCA - Middle Region
                                                         Date of Utility Allowances              June 1, 2009               Structure MF
                                                           Paid By (check one)                   Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
      Utility              Fuel                             Tenant     Owner                        0           1           2          3          4
      Heat                 Electric Heat Pump                 X                                                 7           8         12
      Air Conditioning     Electric                           X                                                29          37         45
      Cooking              Electric                           X                                                 8          11         13
      Hot Water            Electric                           X                                                25          33         40
      Lights               Electric                           X                                                24          30         37
      Water & Sewer        Submetered?       No               X                                                42          52         65
      Refuse Collection                                                  X
      Total Utility Allowance by Unit Size                                                            0           135          171           212          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




2009 OAH Funding Application - April                                Part V-Utility Allowances                                                      page 25 of 1038
     Georgia Department of Community Affairs                                       2009 Funding Application                                                  Office of Affordable Housing
                                     PART SIX - PROJECTED REVENUES & EXPENSES - 2009-005 Powell Place Apartments, Barnesville, Lamar 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:             Floating HOME projects must indicate "Yes" in the "HOME Unit" column in the chart below to designate HOME units.
    Are 100% of units HUD PBRA?                             No

        Rent       Nbr of   No. of   Unit      Unit      HOME      Max Gross     Proposed      Utility      PBRA          Monthly Net Rent        Employee       Building          Type of
         Type      Bdrms    Baths    Count     Area       Unit      Rent Limit   Gross Rent   Allowance    Provider     Per Unit       Total        Unit           Type            Activity
       50% AMI        1        1.0    2         850       Yes          475          445         135                           310           620     No        2-Story Walkup   New Construction
       50% AMI        2        2.0    1         965       Yes          570          531         171                           360           360     No        2-Story Walkup   New Construction
       50% AMI        3        2.0    1        1,100      Yes          701          677         212                           465           465     No        2-Story Walkup   New Construction
       50% AMI        1        1.0    2         850        No          506          465         135                           330           660     No        2-Story Walkup   New Construction
       50% AMI        2        2.0    2         965        No          607          571         171                           400           800     No        2-Story Walkup   New Construction
       50% AMI        3        2.0    3        1,100       No          701          697         212                           485         1,455     No        2-Story Walkup   New Construction
       60% AMI        1        1.0    1         850       Yes          475          445         135                           310           310     No        2-Story Walkup   New Construction
       60% AMI        2        2.0    2         965       Yes          570          531         171                           360           720     No        2-Story Walkup   New Construction
       60% AMI        3        2.0    2        1,100      Yes          751          677         212                           465           930     No        2-Story Walkup   New Construction
       60% AMI        1        1.0    3         850        No          607          465         135                           330           990     No        2-Story Walkup   New Construction
       60% AMI        2        2.0    26        965        No          729          571         171                           400        10,400     No        2-Story Walkup   New Construction
       60% AMI        3        2.0    18       1,100       No          842          712         212                           500         9,000     No        2-Story Walkup   New Construction
        N/A-CS        2        2.0    1         965        No           0            0           0                            -             -     Common      2-Story Walkup   New Construction
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
                                                                                                                              -             -
0                           TOTAL       64      64,080                                                          MONTHLY TOTAL            26,710
                                                                                                                 ANNUAL TOTAL           320,520




     2009 OAH Funding Application - April                                         Part VI-Revenues & Expenses                                                                    26 of 1038
    Georgia Department of Community Affairs                                             2009 Funding Application                                            Office of Affordable Housing
                                       PART SIX - PROJECTED REVENUES & EXPENSES - 2009-005 Powell Place Apartments, Barnesville, Lamar County

II. UNIT SUMMARY
   Units:                                                                 Efficiency       1BR         2BR           3BR      4BR   Total
                    Low-Income                             60% AMI              -               4           28           20   -          52 (Include manager units that are        0
                                                           50% AMI              -               4            3            4   -          11 income restricted)                     0
                                                           Total                -               8           31           24   -          63                                        0
                 NSP                                       120% AMI             -           -           -            -        -      -                                             0
                 Unrestricted                                                   -           -           -            -        -      -                                             0
NOTE TO
APPLICANTS: If Total Residential                                                -               8           31           24   -          63                                        0
the numbers      Common Space                                                   -           -                1       -        -           1 (no rent to be charged)                0
compiled in this Total                                                          -               8           32           24   -          64                                        0
Summary do not
appear to match HOME                  Floating             60% AMI              -               1            2            2   -           5                                        0
what was         (included in LI above)                    50% AMI              -               2            1            1   -           4                                        0
entered in the                                             Total                -               3            3            3   -           9                                        0
Rent Chart
above, please    NSP                                       60% AMI              -           -           -            -        -      -                                             0
verify that all  (included in LI above)                    50% AMI              -           -           -            -        -      -                                             0
applicable                                                 Total                -           -           -            -        -      -                                             0
columns were
completed in     PBRA-Assisted                             60% AMI              -           -           -            -        -      -                                             0
the rows used    (included in LI above)                    50% AMI              -           -           -            -        -      -                                             0
above.
                                                           Total                -           -           -            -        -      -                                             0
                    Type of Construction Activity
                                      New Construction     Low Inc              -               8           31           24   -          63                                        0
                                                           NSP 120%             -           -           -            -        -      -
                                                           Unrestricted         -           -           -            -        -      -                                             0
                                                           Total + CS           -               8           32           24   -          64                                        0
                                      Acq/Rehab            Low Inc              -           -           -            -        -      -                                             0
                                                           NSP 120%             -           -           -            -        -      -
                                                           Unrestricted         -           -           -            -        -      -                                             0
                                                           Total + CS           -           -           -            -        -      -                                             0
                                      Substantial Rehab Only
                                                           Low Inc              -           -           -            -        -      -                                             0
                                                           NSP 120%             -           -           -            -        -      -
                                                           Unrestricted         -           -           -            -        -      -                                             0
                                                           Total + CS           -           -           -            -        -      -                                             0
                                      Adaptive Reuse                                                                                 -
                                      Historic Rehab                                                                                 -
                    Building Type:
                                      Multifamily                               -               8           32           24   -          64                                        0
                                      SF Detached                               -           -           -            -        -      -                                             0
                                      Townhome                                  -           -           -            -        -      -                                             0
                                      Duplex                                    -           -           -            -        -      -                                             0
                                      Manufactured home                         -           -           -            -        -      -                                             0




    2009 OAH Funding Application - April                                               Part VI-Revenues & Expenses                                                            27 of 1038
    Georgia Department of Community Affairs                                                  2009 Funding Application                                                                Office of Affordable Housing
                                          PART SIX - PROJECTED REVENUES & EXPENSES - 2009-005 Powell Place Apartments, Barnesville, Lamar County

II. UNIT SUMMARY (continued)
  Unit Square Footage:
                Low Income                                 60% AMI                  -          3,400        27,020        22,000               -         52,420                                             0
                                                           50% AMI                  -          3,400         2,895         4,400               -         10,695                                             0
                                                           Total                    -          6,800        29,915        26,400               -         63,115                                             0
                    NSP                                    120% AMI                 -            -             -             -                 -            -                                               0
                    Unrestricted                                                    -            -             -             -                 -            -                                               0
                    Total Residential                                               -          6,800        29,915        26,400               -         63,115                                             0
                    Common Space                                                    -            -             965           -                 -            965                                             0
                    Total                                                           -          6,800        30,880        26,400               -         64,080                                             0
III. ANCILLARY AND OTHER INCOME (annual amounts)

  Ancillary Income                                                             6,410          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                            -            -              -             -              -              -              -              -                  -                    -




    2009 OAH Funding Application - April                                                    Part VI-Revenues & Expenses                                                                                 28 of 1038
      Georgia Department of Community Affairs                                                                     2009 Funding Application                                   Office of Affordable Housing
                                                PART SIX - PROJECTED REVENUES & EXPENSES - 2009-005 Powell Place Apartments, Barnesville, Lamar County

IV. ANNUAL OPERATING EXPENSE BUDGET
    On-Site Staff Costs                                                                                    On-Site Security                                   Taxes and Insurance
    Management Salaries & Benefits                                            30,000                       Contracted Guard                                   Real Estate Taxes (Gross)*                 64,000
    Maintenance Salaries & Benefits                                            9,743                       Electronic Alarm System                            Insurance**                                21,504
    Support Services Salaries & Benefits                                                                                   Subtotal                   0       Other (describe here)
    Other (describe here)                                                                                                                                        Subtotal                                85,504
                      Subtotal                                                39,743

    On-Site Office Costs                                                                                   Professional Services                              Management Fee:                            27,364
    Office Supplies & Postage                                                   3,000                      Legal                                   1,000           460       per unit per year
    Telephone                                                                   2,000                      Accounting                              6,000           38        per unit per month
    Travel                                                                        300                      Advertising                             3,000
    Leased Furniture / Equipment                                                                           Other (describe here)                              (Management Fee is from Pro Forma, Section
    Activities Supplies / Overhead Cost                                                                                       Subtotal            10,000      1, Operating Assumptions)
    Other (describe here)
                      Subtotal                                                  5,300

    Maintenance Expenses                                                                                   Utilities                                          TOTAL OPERATING EXPENSES
    Contracted Repairs                                                         6,208                       Electricity                             3,200          3,500      per unit                   224,023
    General Repairs                                                            4,816                       Natural Gas
    Grounds Maintenance                                                       13,888                       Water & Sewer                          12,000
    Extermination                                                              4,800                       Trash Collection                        8,000      Replacement Reserve                        15,360
    Maintenance Supplies                                                                                   Other (describe here)                              Enter desired per unit amount:                240
    Elevator Maintenance                                                                                                      Subtotal            23,200
    Redecorating                                                                3,200
    Other (describe here)                                                                                                                                     TOTAL ANNUAL EXPENSES
                      Subtotal                                                32,912                                                                                                                    239,383
V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                                 VI.   DCA COMMENTS
Real Estate Taxes are computed as follows: Estimated Tax Value of $5,654,400 X 40% X .0290 (local millige rate)




Estimated Insured Value of $5,654,400 X .0038




      2009 OAH Funding Application - April                                                                   Part VI-Revenues & Expenses                                                          29 of 1038
  Georgia Department of Community Affairs                                     2009 Funding Application                                                         Office of Affordable Housing
                            PART SEVEN - OPERATING PRO FORMA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
I. OPERATING ASSUMPTIONS                                Please Note:                 Green-shaded cells are unlocked for your use and contain references/formulas that can be overwritten.
Revenue Growth            2.00%                         Asset Management Fee Amount                             2,500         Yr 1 Asset Mgt Fee Percentage of EGI:                  0.82%
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:                   9.00%
Vacancy & Collection Loss 7.00%                            Expense Growth Rate (3.00%)                             Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                            27,364
Ancillary Income Limit    2.00%                            Percent of Effective Gross Income                        No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                  1             2               3                4                5                6                7                8                9               10
Revenues                       320,520       326,930         333,469          340,138          346,941          353,880          360,958          368,177          375,540          383,051
Ancillary Income                 6,410         6,539           6,669            6,803            6,939            7,078            7,219            7,364            7,511            7,661
Vacancy                        (22,885)      (23,343)        (23,810)         (24,286)         (24,772)         (25,267)         (25,772)         (26,288)         (26,814)         (27,350)
Other Income (OI)                  -             -               -                -                -                -                -                -                -                -
OI Not Subject to Mgt Fee          -             -               -                -                -                -                -                -                -                -
Expenses less Mgt Fee         (196,659)     (202,559)       (208,636)        (214,895)        (221,341)        (227,982)        (234,821)        (241,866)        (249,122)        (256,595)
Property Mgmt                  (27,364)      (28,185)        (29,030)         (29,901)         (30,798)         (31,722)         (32,674)         (33,654)         (34,664)         (35,704)
Reserves                       (15,360)      (15,821)        (16,295)         (16,784)         (17,288)         (17,806)         (18,341)         (18,891)         (19,458)         (20,041)
NOI                             64,662        63,562          62,368           61,075           59,681           58,180           56,569           54,842           52,994           51,022
                                   -             -               -                -                -                -                -                -                -                -
                                   -             -               -                -                -                -                -                -                -                -
D/S Mortgage A                 (56,228)      (55,271)        (54,232)         (53,109)         (51,896)         (50,591)         (49,190)         (47,688)         (46,082)         (44,367)
D/S Mortgage B                     -             -               -                -                -                -                -                -                -                -
D/S Other Source                   -             -               -                -                -                -                -                -                -                -
D/S Other Source                   -             -               -                -                -                -                -                -                -                -
DCA HOME Cash Resrv.
Asset Mgmt                        (2,500)     (2,500)          (2,500)          (2,500)          (2,500)          (2,500)          (2,500)          (2,500)          (2,500)          (2,500)
DDF                                 (762)
Incentive Mgmt                       -           -                -                -                -                -                -                -                -                -
Cash Flow                          5,172       5,791            5,636            5,466            5,285            5,089            4,879            4,654            4,412            4,155


DCR First Mortgage                 1.15         1.15              1.15             1.15             1.15             1.15             1.15             1.15             1.15             1.15
DCR Second Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio          1.36          1.34             1.33             1.32             1.31             1.29             1.28             1.27             1.26             1.24
                                  -             -                -                -                -                -                -                -                -                -
Mortgage A Balance            953,560       907,614          862,251          817,560          773,638          730,587          688,510          647,520          607,731          569,265
Mortgage B Balance
Other Source Balance
Other Source Balance
DDF Balance                          -           -                 -                -                -                -                -                -                -                -

  2009 OAH Funding Application - April                                            Part VII-Pro Forma                                                                                  30 of 1038
  Georgia Department of Community Affairs                                     2009 Funding Application                                                         Office of Affordable Housing
                            PART SEVEN - OPERATING PRO FORMA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
I. OPERATING ASSUMPTIONS                                Please Note:                 Green-shaded cells are unlocked for your use and contain references/formulas that can be overwritten.
Revenue Growth            2.00%                         Asset Management Fee Amount                             2,500         Yr 1 Asset Mgt Fee Percentage of EGI:                  0.82%
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:                   9.00%
Vacancy & Collection Loss 7.00%                            Expense Growth Rate (3.00%)                             Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                            27,364
Ancillary Income Limit    2.00%                            Percent of Effective Gross Income                        No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                11            12              13               14               15               16               17               18               19               20
Revenues                       390,712       398,526         406,497          414,627          422,919          431,378          440,005          448,805          457,781          466,937
Ancillary Income                 7,814         7,971           8,130            8,293            8,458            8,628            8,800            8,976            9,156            9,339
Vacancy                        (27,897)      (28,455)        (29,024)         (29,604)         (30,196)         (30,800)         (31,416)         (32,045)         (32,686)         (33,339)
Other Income (OI)                  -             -               -                -                -                -                -                -                -                -
OI Not Subject to Mgt Fee          -             -               -                -                -                -                -                -                -                -
Expenses less Mgt Fee         (264,293)     (272,222)       (280,389)        (288,800)        (297,464)        (306,388)        (315,580)        (325,047)        (334,799)        (344,843)
Property Mgmt                  (36,775)      (37,878)        (39,015)         (40,185)         (41,391)         (42,632)         (43,911)         (45,229)         (46,585)         (47,983)
Reserves                       (20,643)      (21,262)        (21,900)         (22,557)         (23,233)         (23,930)         (24,648)         (25,388)         (26,149)         (26,934)
NOI                             48,919        46,680          44,300           41,773           39,093           36,254           33,250           30,073           26,718           23,177
                                   -             -               -                -                -                -                -                -                -                -
                                   -             -               -                -                -                -                -                -                -                -
D/S Mortgage A                 (42,538)      (40,591)        (38,522)         (36,324)         (33,994)         (31,525)         (28,913)         (26,150)         (23,233)         (20,154)
D/S Mortgage B                     -             -               -                -                -                -                -                -                -                -
D/S Other Source                   -             -               -                -                -                -                -                -                -                -
D/S Other Source                   -             -               -                -                -                -                -                -                -                -
DCA HOME Cash Resrv.
Asset Mgmt                        (2,500)     (2,500)          (2,500)          (2,500)          (2,500)          (2,500)          (2,500)          (2,500)          (2,500)          (2,500)
DDF
Incentive Mgmt                      -            -                -                -                -                -                -                -                -                -
Cash Flow                         3,881        3,589            3,278            2,949            2,599            2,229            1,837            1,423              985              523


DCR First Mortgage                 1.15         1.15              1.15             1.15             1.15             1.15             1.15             1.15             1.15             1.15
DCR Second Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio          1.23          1.22             1.21             1.20             1.18             1.17             1.16             1.15             1.14             1.13
                                  -             -                -                -                -                -                -                -                -                -
First Mortgage Balance        532,250       496,820          463,112          431,273          401,456          373,819          348,528          325,759          305,692          288,516
Second Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                          -           -                 -                -                -                -                -                -                -                -

  2009 OAH Funding Application - April                                            Part VII-Pro Forma                                                                                  31 of 1038
  Georgia Department of Community Affairs                                   2009 Funding Application                                                         Office of Affordable Housing
                            PART SEVEN - OPERATING PRO FORMA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
I. OPERATING ASSUMPTIONS                              Please Note:                 Green-shaded cells are unlocked for your use and contain references/formulas that can be overwritten.
Revenue Growth            2.00%                       Asset Management Fee Amount                             2,500         Yr 1 Asset Mgt Fee Percentage of EGI:                  0.82%
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:                   9.00%
Vacancy & Collection Loss 7.00%                          Expense Growth Rate (3.00%)                             Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                            27,364
Ancillary Income Limit    2.00%                          Percent of Effective Gross Income                        No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                21          22              23               24               25               26               27               28               29               30
Revenues                       476,276     485,801         495,517          505,428          515,536          525,847          536,364          547,091          558,033          569,194
Ancillary Income                 9,526       9,716           9,910           10,109           10,311           10,517           10,727           10,942           11,161           11,384
Vacancy                        (34,006)    (34,686)        (35,380)         (36,088)         (36,809)         (37,545)         (38,296)         (39,062)         (39,844)         (40,640)
Other Income (OI)                  -           -               -                -                -                -                -                -                -                -
OI Not Subject to Mgt Fee          -           -               -                -                -                -                -                -                -                -
Expenses less Mgt Fee         (355,188)   (365,844)       (376,819)        (388,124)        (399,767)        (411,760)        (424,113)        (436,836)        (449,942)        (463,440)
Property Mgmt                  (49,422)    (50,905)        (52,432)         (54,005)         (55,625)         (57,294)         (59,013)         (60,783)         (62,607)         (64,485)
Reserves                       (27,742)    (28,574)        (29,431)         (30,314)         (31,224)         (32,160)         (33,125)         (34,119)         (35,143)         (36,197)
NOI                             19,443      15,508          11,365            7,006            2,422           (2,396)          (7,456)         (12,768)         (18,341)         (24,184)
                                   -           -               -                -                -                -                -                -                -                -
                                   -           -               -                -                -                -                -                -                -                -
D/S Mortgage A
D/S Mortgage B
D/S Other Source
D/S Other Source
DCA HOME Cash Resrv.
Asset Mgmt
DDF
Incentive Mgmt                    -            -                -                -                -                -                -                -                -                -
Cash Flow                      19,443       15,508           11,365            7,006            2,422           (2,396)          (7,456)         (12,768)         (18,341)         (24,184)


DCR First Mortgage
DCR Second Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio          1.12        1.11             1.10             1.08             1.07             1.06             1.05             1.04             1.03             1.02
                                  -           -                -                -                -                -                -                -                -                -
First Mortgage Balance        291,415     294,342          297,299          300,286          303,303          306,350          309,427          312,536          315,675          318,847
Second Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                        -           -                 -                -                -                -                -                -                -                -

  2009 OAH Funding Application - April                                          Part VII-Pro Forma                                                                                  32 of 1038
  Georgia Department of Community Affairs                                    2009 Funding Application                                                         Office of Affordable Housing
                            PART SEVEN - OPERATING PRO FORMA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
I. OPERATING ASSUMPTIONS                               Please Note:                 Green-shaded cells are unlocked for your use and contain references/formulas that can be overwritten.
Revenue Growth            2.00%                        Asset Management Fee Amount                             2,500         Yr 1 Asset Mgt Fee Percentage of EGI:                  0.82%
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:                   9.00%
Vacancy & Collection Loss 7.00%                           Expense Growth Rate (3.00%)                             Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                            27,364
Ancillary Income Limit    2.00%                           Percent of Effective Gross Income                        No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                               31           32               33               34               35
Revenues                      580,578      592,189          604,033          616,114          628,436
Ancillary Income               11,612       11,844           12,081           12,322           12,569
Vacancy                       (41,453)     (42,282)         (43,128)         (43,991)         (44,870)
Other Income (OI)
OI Not Subject to Mgt Fee
Expenses less Mgt Fee         (477,343)    (491,663)       (506,413)        (521,606)        (537,254)
Property Mgmt                  (66,420)     (68,412)        (70,465)         (72,579)         (74,756)
Reserves                       (37,283)     (38,401)        (39,553)         (40,740)         (41,962)
NOI                            (30,310)     (36,726)        (43,446)         (50,479)         (57,838)
                                   -            -               -                -                -
                                   -            -               -                -                -
D/S Mortgage A                 (56,689)     (56,689)        (56,689)         (56,689)         (56,689)
D/S Mortgage B                     -            -               -                -                -
D/S Other Source                   -            -               -                -                -
D/S Other Source                   -            -               -                -                -
DCA HOME Cash Resrv.
Asset Mgmt                         -            -               -                -                -
DDF                               (762)        (762)           (762)            (762)            (762)
Incentive Mgmt                     -            -               -                -                -
Cash Flow                      (87,761)     (94,177)       (100,897)        (107,930)        (115,289)


DCR First Mortgage                (0.53)      (0.65)            (0.77)           (0.89)           (1.02)
DCR Second Mortgage
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio          1.01         1.00             0.99             0.98              0.97
                                  -            -                -                -                 -
First Mortgage Balance        265,100      210,814          155,982          100,600            44,661
Second Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance                       (762)      (1,524)          (2,286)          (3,048)          (3,810)

  2009 OAH Funding Application - April                                           Part VII-Pro Forma                                                                                  33 of 1038
  Georgia Department of Community Affairs                              2009 Funding Application                                                         Office of Affordable Housing
                            PART SEVEN - OPERATING PRO FORMA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
I. OPERATING ASSUMPTIONS                         Please Note:                 Green-shaded cells are unlocked for your use and contain references/formulas that can be overwritten.
Revenue Growth            2.00%                  Asset Management Fee Amount                             2,500         Yr 1 Asset Mgt Fee Percentage of EGI:                  0.82%
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:                   9.00%
Vacancy & Collection Loss 7.00%                     Expense Growth Rate (3.00%)                             Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                            27,364
Ancillary Income Limit    2.00%                     Percent of Effective Gross Income                        No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
III. Applicant Comments & Clarifications                                                            IV. DCA Comments




  2009 OAH Funding Application - April                                     Part VII-Pro Forma                                                                                  34 of 1038
      Georgia Department of Community Affairs                             2009 Funding Application                                      Office of Affordable Housing
                                        PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                               DCA
       Preliminary Rating: Incomplete                                                                                                   Applicant Response
                                                                                                                                                               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.)




      2009 OAH Funding Application - April                                 Part VIII-Threshold Criteria                                                   35 of 1038
    Georgia Department of Community Affairs                                                          2009 Funding Application                                                                       Office of Affordable Housing
                                                 PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                                 DCA
     Preliminary Rating: Incomplete                                                                                                                                                                Applicant Response
                                                                                                                                                                                                                                 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)     No
       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 July 31, 2009?                                                                                             1a)     No
           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)    Yes
       3) How many loans have you closed with this lender within the past five years?                                                                                                                            3)     5
   Applicant's comments regarding this section of Threshold:
We have closed at least 5 HOME Loans with DCA.




     DCA's Comments:




2    Tenancy Characteristics                                                                                                                                                                                 Pass?

        This project is designated as:                                                                                             Family                                                                              Yes
     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?                                                                                                                   Agree
      B. Specify below at least 1 basic ongoing service selected from categories listed in QAP for Family projects, or at least 2 basic ongoing services selected from categories listed in QAP for Senior projects:
         1) Social and recreational programs planned and overseen by project mgr                                                                                                                                  1)   Yes
         2) Semi-monthly classes conducted on site                                                                                                                                                                2)   No
         3) After school or adult day care located on site                                                                                                                                                        3)   No
         4) Other service approved by DCA                                                                                                     4)
     Applicant's comments regarding this section of Threshold:




     DCA's Comments:




    2009 OAH Funding Application - April                                                               Part VIII-Threshold Criteria                                                                                          36 of 1038
    Georgia Department of Community Affairs                                                           2009 Funding Application                                                                 Office of Affordable Housing
                                                  PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                       DCA
     Preliminary Rating: Incomplete                                                                                                                                                            Applicant Response
                                                                                                                                                                                                                       USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
4    Market Feasibility                                                                                                                                                                              Pass?

      A.   Provide the name of the market study analyst used by applicant:                                                                                      A. Jerry Koontz
      B.   Project absorption period                                                                                                                            B. 12 months
      C.   Stabilization period                                                                                                                                 C. 12 months
      D.   Overall capture rate for credit units                                                                                                                D. 11.3
      E.   List DCA tax credit projects (inside a 2-mile radius for urban or 10-mile radius for rural) for years 2004 - 2008. Include both DCA project number and project name in each case.            E.   Yes
               Villas on Forsyth 2007-021




      F. Does the unit mix/rents and amenities included in the application match those provided in the market study?                                                                                    F.   Yes
     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.    No
      B. Is an appraisal included in this application submission?                                                                                                                                       B.    No
              If an appraisal is included, indicate Appraiser's Name and answer the following questions:                         Appraiser's Name:
           1) Does it include the “as is” value, "as built/as complete" (encumbered), "as built/ as complete" (unencumbered) values of the proposed subject property and tax credit value?              1)
           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.   Yes
      D. Has the property been:
           1) Rezoned?                                                                                                                                                                                  1)    No
           2) Subdivided?                                                                                                                                                                               2)    No
         3) Modified?                                                                                                                                                                                   3)    No
     Applicant's comments regarding this section of Threshold:




     DCA's Comments:




    2009 OAH Funding Application - April                                                               Part VIII-Threshold Criteria                                                                                37 of 1038
    Georgia Department of Community Affairs                                                        2009 Funding Application                                                                    Office of Affordable Housing
                                                 PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                             DCA
     Preliminary Rating: Incomplete                                                                                                                                                            Applicant Response
                                                                                                                                                                                                                             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
6    Environmental Requirements                                                                                                                                                                         Pass?

     Did the Applicant receive a DCA Noise Waiver?                                                                                                                                                                No
      A. Name of Consultant that prepared the Phase I Assessment:                                                                                                A. Geotechnical and Envorinmental Consultants
     B. Was the original Phase I Environmental Report for the subject property prepared in accordance with ASTM 1527-05?                                                                                     B.   Yes
     C. Is a Phase II Environmental Report included?                                                                                                                                                         C.   Yes
     D. Was a Noise Assessment performed?                                                                                                                                                                    D.   Yes
         1) If "Yes", provide the maximum noise level on site in decibels:                                                                                                                                        51.5
         If "Yes", what are the contributing factors in decreasing order of magnitude?
         All project locations are exposed to < 65 DNL exterior noise levels, therefor no exterior or interior noise mitigation is required per HUD noise guidelines
      E. Is the subject property located in a:
          1) Brownfield?                                                                                                                                                                                     1)   No
          2) 100 year flood plain / floodway?                                                                                                                                                                2)   No
              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)   No
              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)   No
      F. Has the Environmental Professional identified any of the following on the subject property:
          1) Asbestos?                                  No                                   3) PCB's?                   No                                      5) Lead in water?     No
          2) Lead-based paint?                          No                                   4) Mold?                    No                                      6) Radon?             No
          7) Other (e.g., endangered species, Native American burial grounds, etc.):                               na                                                                                             No
     G. Is all additional environmental documentation required for a HOME or NSP application included?                                                                                                      G.    Yes
         1) Eight-Step Process completed for Wetlands and/or Floodplains?                                                                                                                                   1)    No
         2) Has Applicant/PE completed the HOME and HUD Environmental Questionnaire?                                                                                                                        2)    Yes
         3) Owner agrees that they must refrain from undertaking any activities that could have an adverse effect on the subject property?                                                                  3)    Yes
     H. If HUD approval has been previously granted, has the HUD Form 4128 been included?                                                                                                                   H.    N/A
    Applicant's comments regarding this section of Threshold:
See TAB 11 for Phase I and Phase II

There are no wetlands or floodplain located on the site.




     DCA's Comments:




    2009 OAH Funding Application - April                                                           Part VIII-Threshold Criteria                                                                                          38 of 1038
    Georgia Department of Community Affairs                                                       2009 Funding Application                                                                 Office of Affordable Housing
                                                PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                   DCA
     Preliminary Rating: Incomplete                                                                                                                                                        Applicant Response
                                                                                                                                                                                                                   USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
7    Site Control                                                                                                                                                                                Pass?
     A. Is site control provided through October 31, 2009?                                                                                                                                          A.   Yes
     B. Form of site control:                                                                                                                                         B. Contract/Option
     C. Name of Entity with site control:                                                                                C.                          Powell Place Apartments, LP                         Yes
    Applicant's comments regarding this section of Threshold:
See TAB 12.
Powell Place Apartments has an option to purchase the property through December 31, 2009
    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.   Yes
     B. If access roads are not in place, does the application contain documentation evidencing a local commitment for the funding and the timetable for completion of such paved road?             B.
    Applicant's comments regarding this section of Threshold:
There is over 500 feet on Trojan Way a City Street.

     DCA's Comments:




9    Site Zoning                                                                                                                                                                                 Pass?
      A. Is Zoning in place at the time of this application submission?                                                                                                                             A.   Yes
      B. Is Zoning conformance in writing by the authorized Local Government official, and includes the zoning & land use classifications?                                                          B.   Yes
      C. Is documentation provided that demonstrates that the site layout conforms to any moratoriums, density, setbacks or other requirements?                                                     C.   Yes
      D. Is this information included on the Architectural Site Conceptual Development Plan?                                                                                                        D.   Yes
      E. Are all issues and questions surrounding the zoning and land use classification clearly defined prior to this application submission?                                                      E.   Yes
     Applicant's comments regarding this section of Threshold:
All zoning information is in TAB 14.

     DCA's Comments:




10 Operating Utilities                                                                                                                                                                           Pass?
      A. Check applicable utilities and enter provider name:             1) Gas                             NA                                                                                      1)   No
                                                                         2) Electric                        Georgia Power                                                                           2)   Yes
    Applicant's comments regarding this section of Threshold:
See TAB 15.

     DCA's Comments:




    2009 OAH Funding Application - April                                                           Part VIII-Threshold Criteria                                                                                39 of 1038
  Georgia Department of Community Affairs                                                            2009 Funding Application                                                            Office of Affordable Housing
                                                PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                  DCA
    Preliminary Rating: Incomplete                                                                                                                                                       Applicant Response
                                                                                                                                                                                                                  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.    No
     B. Check all that are available to the                              1) Public water                         City of Barnesville                                                              1)    Yes
        site and enter provider name:                                    2) Public sewer                         City of Barnesville                                                              2)    Yes
                                                                           3) Waiver                           <<Enter Provider Name Here>>                                                       3)    No
    Applicant's comments regarding this section of Threshold:
See TAB 15.


    DCA's Comments:




12 Required Amenities                                                                                                                                                                          Pass?

    Is there a Pre-Approval Form from DCA included in this application for this criterion?                                                                                                              No
     A. Applicant agrees to provide the following required Standard Site Amenities in conformance with the DCA Amenities Manual (select one in each category):                                    A.   Agree
         1) Community area (select either community room or community building):                                                                                      1) Building                      Agree
         2) Exterior gathering area:                                                                                                                                  2) Covered Porch                 Agree
         3) On site laundry type:                                                                                                                      3) On-site laundry                              Agree
     B. Applicant agrees to provide the following required Additional Site Amenities in conformance with the DCA Amenities Manual.                                       Nbr Amenities            B.   Agree
         The number of amenities required depends on the total unit count: 1-50 units = 4 amenities, 51-100 units = 5 amenities; 100+ units = 6 amenities.                      5                     Additional Amenities
         DCA Site Amenities Selected by Applicant:                                         DCA Verified? Additional Amenities (describe in space provided below)                                     Pre-approved by DCA?
         1) Attractively fenced community gardens
         2) Complete built-in fire sprinkler system
         3) Covered pavilion w/ picnic/barbecue facilities
         4) Equipped Computer Center
         5) Equipped Playground
         6) <<Select>>
     C. Applicant agrees to provide the following required Unit Amenities in conformance with the DCA Amenities Manual:                                                                           C.   Agree
        1) HVAC                                                                                                                                                                                   1)    Yes
        2) Refrigerator (Energy Star rated)                                                                                                                                                       2)    Yes
        3) Dishwasher (Energy Star rated)                                                                                                                                                         3)    Yes
        4) Stove                                                                                                                                                                                  4)    Yes
        5) Powder-based stovetop fire suppression canisters installed above the range cook top                                                                                                    5)    Yes
     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 waiver granted?                                                                                                                                                       3b)
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:




  2009 OAH Funding Application - April                                                                Part VIII-Threshold Criteria                                                                            40 of 1038
  Georgia Department of Community Affairs                                                              2009 Funding Application                                                                      Office of Affordable Housing
                                                 PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                                DCA
      Preliminary Rating: Incomplete                                                                                                                                                                 Applicant Response
                                                                                                                                                                                                                                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 requirements as set forth in                                   E.
         the QAP and Manuals, and health and safety codes and requirements. Applicant agrees?
      Applicant's comments regarding this section of Threshold:
N/A



      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.      Yes
     B. Are all site related amenities required and selected in this application indicated on the Conceptual Site Development Plan?                                                                           B.      Yes
    Applicant's comments regarding this section of Threshold:
See Site Plan in TAB 17.



      DCA's Comments:




15 Building Sustainability                                                                                                                                                                                 Pass?

      A. Does the project meet Georgia Energy Codes?                                                                                                                                                          A.      Yes
      B. Do the basic design and equipment meet the requirements of the Architectural Manual, including those for Energy Star rated appliances?                                                               B.      Yes
      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.      Yes

     Applicant's comments regarding this section of Threshold:
The project meets the Georgia Energy Codes, and its basic design meets the requirements of the Architetural Manual, including energy star appliances. We agree to provide the Building Sustainability
Certification at Step II when funded.


      DCA's Comments:




  2009 OAH Funding Application - April                                                                 Part VIII-Threshold Criteria                                                                                         41 of 1038
  Georgia Department of Community Affairs                                                              2009 Funding Application                                                                     Office of Affordable Housing
                                                  PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                            DCA
    Preliminary Rating: Incomplete                                                                                                                                                                  Applicant Response
                                                                                                                                                                                                                            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 504, American with                                      A.   Yes
        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 2009 Application Manual?                                                         B.   Yes
     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 of this 5%) are equipped
        with roll-in showers?                                                                                                                                                                                C.   Yes

     D. Are at least an additional 2% of the total units equipped for hearing and sight-impaired residents?                                                                                                  D.   Yes
     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-built compliance with
        accessibility regulations?                                                                                                                                                                           E.   Yes

   Applicant's comments regarding this section of Threshold:
We agree to comply all Federal and State accessibility accessibility laws.



    DCA's Comments:




17 Architectural Design & Quality Standards                                                                                                                                                               Pass?
    Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                                                                    No
    Does this application meet the Architectural Standards contained in the Application Manual for quality and longevity?                                                                                         Yes
     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)   Yes
        2) All construction must meet the requirements set forth in the Manual                                                                                                                               2)   Yes
        3) Rehabilitation projects will be considered for funding only if the per unit rehabilitation hard costs exceed $20,000 for properties less than 20                                                  3)   Yes
           years old and the per unit rehabilitation hard costs exceed $25,000 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)   Yes
         5) The costs of furniture, fixtures, construction of community buildings and common area amenities are not included in these amounts                                                                5)   Yes
     B. Standard Design Options for All Projects                                                                                                                                                             B.   Yes
         1) Exterior Wall Finishes (select one)               Exterior wall faces will have an excess of 40% brick or stone on each total wall surface                                                       1)   Yes

         2) Attractive Features (select two)                  Addition of decorative elements                                                                                                                2)   Yes
                                                              Addition of or the redesign of existing covered entries                                                                                             Yes
         3) Major Bldg Component Materials & Upgrades         Upgraded roofing shingles, or roofing materials                                                                                                3)   Yes
            (select one)
         4) Landscaping and Site Design Features (select      Substantial replanting of trees and integrated vegetation                                                                                      4)   Yes
            two)                                              Site entry w/ permanent, illuminated entry sign and decorative fence                                                                                Yes

    Applicant's comments regarding this section of Threshold:
The project consists of only new construction. The community buildings and common areas are included in the construction hard costs. Furniture and fixtures for the community buildings are excluded from the
construction contract.

    DCA's Comments:




  2009 OAH Funding Application - April                                                                 Part VIII-Threshold Criteria                                                                                     42 of 1038
 Georgia Department of Community Affairs                                                           2009 Funding Application                                                                       Office of Affordable Housing
                                               PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                               DCA
   Preliminary Rating: Incomplete                                                                                                                                                                Applicant Response
                                                                                                                                                                                                                               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?                                                                                                                     Yes
   Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                                                                       No
   A. Have all entities and individuals in the Owner and Developer organizational structure been identified on an organizational chart?                                                                        A.    Yes
      Please disclose any conflict of interest between the parties:
      Allan Rappuhn has controlling interest in the GP, Developer and Co-developer


   B. Is there a Development fee sharing arrangement between the Owner, Developer or any other party?                                                                                                          B.    No
      If Yes, disclose details in box below:



   C. Is there any Guarantee Agreement?                                                                                                                                                                        C.    No
      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. Owner
      1) Name of Experienced Owner, Partner or Consultant:                                                                                                                      1) Gateway Construction Corp.
      2) Was this individual or entity determined to be experienced by DCA prior to 2009 Application Submission?                                                                                              2)     Yes
      3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership and operation of the project?                            3)     Yes
    F. This Application meets Developer Experience through (select one):                                                                                                         F. Developer
       1) Name of Experienced Developer, Partner or Consultant:                                                                                                                  1) Gateway Construction Corp.
       2) Was this individual or entity determined to be experienced by DCA prior to 2009 Application Submission?                                                                                              2)    Yes
       3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership and operation of the project?                            3)    Yes
   G. This Application meets Manager Experience through (select one):                                                                                                           G. Manager
      1) Name of Experienced Manager, Partner or Consultant:                                                                                                                    1) Hall Housing Investments, Inc.
      2) Was this individual or entity determined to be experienced by DCA prior to 2009 Application Submission?                                                                                                2)   Yes
      3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materially participate in ownership and operation of the project?                              3)   Yes
   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.   No
    J. Does the Training / Developer Agreement / Partnership Agreement meet the requirement set forth in the Consultant / Partnership Training Manual?                                                          J.   No
   Applicant's comments regarding this section of Threshold:




   DCA's Comments:




 2009 OAH Funding Application - April                                                              Part VIII-Threshold Criteria                                                                                            43 of 1038
  Georgia Department of Community Affairs                                                             2009 Funding Application                                                                 Office of Affordable Housing
                                                PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                       DCA
    Preliminary Rating: Incomplete                                                                                                                                                             Applicant Response
                                                                                                                                                                                                                       USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
19 Threshold Designation Of Tier One Capacity                                                                                                                                                        Pass?

     A. Has an Entity or its principal been designated as a Tier 1 Entity by DCA for this project?                                                                                                      A.    No
     B. Name of Entity or principal so designated by DCA:                                                                     B.
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:




20 Compliance History Summary                                                                                                                                                                        Pass?
    Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                                                                                            Yes
     A. Has the principal and entities of each General Partner, Developer, and project consultant(s) submitted a complete and correct DCA Compliance History Summary                                    A.   Yes
     B. Are five fully executed DCA Uniform Release Forms included in the application?                                                                                                                  B.   Yes
     C. Is the completed compliance questionnaire for each General Partner, Developer, and project consultant(s) included in the application?                                                           C.   Yes
     D. Has Applicant included appropriate documentation or releases from other state housing agencies (both the MultiState Release Form and the Uniform Release Form)?                                 D.   Yes
    Applicant's comments regarding this section of Threshold:
See TAB 3 for compliance score



    DCA's Comments:




21 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, and whose tax-exempt
                                                                                                                                                                                                        B.
        purpose is the fostering of low-income housing?
     C. Does the qualified nonprofit materially participate in the project as described in IRC Section 469(h)?                                                                                          C.
     D. Does the qualified nonprofit own at least 51% of the GP's interest in the project and is the managing general partner of the ownership entity?                                                  D.
     E. If the nonprofit is also a developer of the project, does the nonprofit receive a percentage of the developer fee greater than or equal to its percentage of its ownership interest?            E.
     F. Is a copy of the GP joint venture agreement that indicates the nonprofit's general partnership interest and developer fee amount included in the application?                                   F.
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:




  2009 OAH Funding Application - April                                                                 Part VIII-Threshold Criteria                                                                                44 of 1038
  Georgia Department of Community Affairs                                                               2009 Funding Application                                                                      Office of Affordable Housing
                                                   PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                                 DCA
    Preliminary Rating: Incomplete                                                                                                                                                                    Applicant Response
                                                                                                                                                                                                                                 USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
22 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 ownership interest?                                         E.
     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 Developer Fee included in                           F.
       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:




23 Additional HUD Requirements                                                                                                                                                                                 Pass?
    Is there a Pre-Determination Letter From DCA included in this application for HOME/HUD Site and Neighborhood Standards?                                                                                             No
     A. The Census Tract for the property is characterized as [Choose either Minority concentration (50% or more minority), Racially mixed (25% - 49%                            A.           Racially mixed             <<Select>>
         minority), or Non-minority (less than 25% minority)]:
     B. List all contiguous Census Tracts:                   B. 9901/9804/9701/9702                                                                                                                                    Yes
     C. Is Contract Addendum included in Application?                                                                                                                                                             C.   Yes
    Applicant's comments regarding this section of Threshold:
See TAB 18 for additional HOME/HUD requirements.
The Right to Withdraw is located behind the Purchase option
    DCA's Comments:




24 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:


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




  2009 OAH Funding Application - April                                                                  Part VIII-Threshold Criteria                                                                                         45 of 1038
  Georgia Department of Community Affairs                                                              2009 Funding Application                                                                     Office of Affordable Housing
                                                 PART EIGHT - THRESHOLD CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                                             DCA
    Preliminary Rating: Incomplete                                                                                                                                                                  Applicant Response
                                                                                                                                                                                                                             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
26 Relocation and Displacement of Tenants                                                                                                                                                                  Pass?
     A. Does the Applicant anticipate displacing or relocating any tenants?                                                                                                                                   A.   No
     B. 1) Are any of the sources other than DCA HOME considered to be Federal Funding?                                                                                                                      B1)   No
        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)   No
     C. Are there any occupied or vacant residential or commercial buildings that will be demolished as a part of the proposed work scope?                                                                    C.   No
     D. Is sufficient comparable replacement housing identified in the relocation plan according to DCA relocation requirements?                                                                              D.   No
     E. Provide summary data collected from Relocation Displacement Spreadsheet:                                                                                                                              E.
        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)
     F. Indicate Proposed Advisory Services to be used (see Relocation Manual for further explanation):                                                                                                       F.
        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:




27 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.   Yes
     B. Name of Service Provider:                                     B.                                                      Roosevelt Warm Springs                                                               Yes
    Applicant's comments regarding this section of Threshold:
See TAB 21 for Targeting and Marketing Plan.



    DCA's Comments:




28 Poor Utilization of Resources                                                                                                                                                                           Pass?
   Applicant's comments regarding this section of Threshold:
Powell Place Apartments will be new construction on a vacant infill property located in the City of Barnesville, which is rural. There are no identities of interest of members on the development team.

    DCA's Comments:




  2009 OAH Funding Application - April                                                                  Part VIII-Threshold Criteria                                                                                     46 of 1038
Georgia Department of Community Affairs                                                    2009 Funding Application                                                                                     Office of Affordable Housing
                                             PART NINE - SCORING CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                                      Score            Self DCA
                                                                                                                                                                                                      Value           Score Score
                                                                                                                                                                                     TOTALS:          108              67    10
 1. APPLICATION COMPLETENESS/ORGANIZATION                                    (Applicants start with 10 points. 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:
 All documents are in place and in order. All financial have been checked.


 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



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 8                                                                           8                                                                                                  8



 9                                                                           9                                                                                                  9



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2009 OAH Funding Application - April                                                          Part IX-Scoring Criteria                                                                                                    47 of 1038
Georgia Department of Community Affairs                                                           2009 Funding Application                                                                   Office of Affordable Housing
                                                   PART NINE - SCORING CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                          Score             Self DCA
                                                                                                                                                                                          Value            Score Score
                                                                                                                                                                           TOTALS:         108              67    10
 2. TIER I ENTITIES                                                                                                                                                                         3                0
     Name of Tier 1 Entity for which these points are being claimed
     Tier One entity has a 100% ownership interest in both the General Partner and the Developer entity.
     Applicant's comments regarding this section of scoring:

     DCA's Comments:



 3. DEEPER TARGETING / RENT AND INCOME RESTRICTIONS                                                                                                                                         3               3
     50% Gross Rent Restrictions / 50% Income Restrictions:                   Nbr units to have these restrictions:                          10           Percent of Residential Units:    15.9%
     Applicant's comments regarding this section of scoring:
 15% of 64 is 9.6 unit and we have committed 10 units and that will give us 3 points based on the QAP.


     DCA's Comments:




 4. QUALITY GROWTH INITIATIVES                                                    See scoring criteria for further requirements and information                                                             13      0
  A. Desirable/Undesirable Activities Characteristics                      (Applicants need to complete Desirable/Undesirable Certification form)                                           10        A.    10      0
     1. Desirable Sites (1 pt each)                                                                                                                                                       various     1.    10
     2. Undesirable Sites (1 pt subtracted for each - points entered here will be subtracted from the score value of 10)                                                                  various     2.     0
     Applicant's comments regarding this section of scoring:
 There are 10 desirable and no undesirable activities. See tab 22.




     DCA's Comments:




  B. Infill / Smart Growth Rural Development                                                                                                                                                3         B.    3
     Indicate Quality Growth Initiative to be used (choose one):                  Rural Smart Growth
     How does the site        The Site is in Barnesville Ga which is located in Lamar County. Lamar County is considered rural by DCA. See list in TAB 1.
     maximize the use
     of existing facilities   All utlities are to the site.
     and infrastructure?

                              3


     Describe Adjacent        To the north is vacant and to the east is a park and to the south is the High School sports field and to the west is a single family development.
     established
     occupied
     residential
     development:



2009 OAH Funding Application - April                                                                Part IX-Scoring Criteria                                                                                     48 of 1038
Georgia Department of Community Affairs                                                   2009 Funding Application                                                       Office of Affordable Housing
                                              PART NINE - SCORING CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                       Score            Self DCA
                                                                                                                                                                       Value           Score Score
                                                                                                                                                             TOTALS:   108              67    10
       Additional information for Infill Option:
       Indicate Infill Type (choose one):                                   << Select one >>
 Describe Adjacent
 established
 development that is on
 all but one side of
 development:
       Applicant's comments regarding this section of scoring:
 See Tab 1 for DCA rural conty list.


     DCA's Comments:




  C. Community Transportation Options                                                                                                                                    3        C.    0       0
     1.   Transit Oriented Development                                                                                    OR                                             3        1.    0
     2.   Project located within ¼ mile walking distance of rapid rail transit station along paved roads, sidewalks, established pedestrian walkways or bike trails.     3        2.    0
     Applicant's comments regarding this section of scoring:



     DCA's Comments:




  D. Adaptive Reuse                       (w/PNA & supporting documentation)
                                                                           Existing bldg formerly used as:                                                               3        D.    0
     Applicant's comments regarding this section of scoring:



     DCA's Comments:




  E. Brownfield                           (With EPA/EPD Documentation)                                                                                                   3        E.    0
     Applicant's comments regarding this section of scoring:



     DCA's Comments:




  F. Greyfield                            (with supporting documentation)                                                                                                3        F.    0
     Applicant's comments regarding this section of scoring:



     DCA's Comments:




2009 OAH Funding Application - April                                                           Part IX-Scoring Criteria                                                                     49 of 1038
Georgia Department of Community Affairs                                                     2009 Funding Application                                 Office of Affordable Housing
                                            PART NINE - SCORING CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                   Score            Self DCA
                                                                                                                                                   Value           Score Score
                                                                                                                                         TOTALS:   108              67    10
 5. SUSTAINABLE DEVELOPMENTS                                                                 (choose only one)                                      6         A.     3     0
      A. Sustainable Communities Certification                                             (choose only one)                                        6         A.     0     0
       1. Earth Craft Communities program through Southface Energy Institute and the Greater Atlanta Home Builder’s Association         OR          6         1.     0
       2. US Green Building Council’s Leadership in Energy and Environmental Design for Neighborhood Development (LEED-ND)                          6         2.     0
 OR B. Sustainable Building Certification                                                   (choose only one)                                       3         B.     3     0
       1. Earth Craft House multifamily program through Southface Energy Institute and the Greater Atlanta Home Builder’s Association   OR          3         1.     3
       2. Enterprise Foundation’s Green Communities certification program                                                               OR          3         2.     0
       3. US Green Building Council’s LEED for Homes certification program                                                                          3         2.     0
 OR C. Energy Efficient Building Certification                               (EPA’s Energy Star program certification)                               1        C.      0
     Applicant's comments regarding this section of scoring:
 See scoring sheet from Southface in TAB 29.


      DCA's Comments:




 6. STABLE COMMUNITIES / REDEVELOPMENT / REVITALIZATION                                                                                             12                3        0
  A. Economic Growth and Need                                                                (choose only one)                                       3                3        0
       1. Economic Growth and Need                                                           Indicate Area: Lamar                                    3        1.      3
 OR   2. Stable Communitiies                                                                                                                         3        2.      0
         Project is located in a census tract that meets the following demographics according to the most recent FFIEC Census Report:                              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 15% of housings 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)
    Applicant's comments regarding this section of scoring:
 Lamar County is listed as a Economic Growth and Need area.


      DCA's Comments:




  B. Community Redevelop/Revitalization Plans and Strategies                                 (choose only one)                                       6        B.      0        0
    1. HOPE VI Initiatives                                                                                                                           6        1.      0
   The Initiative will:                                                                                                                                            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)
 OR 2. Promotes Neighborhood Stabilization                                                                                                           3        2.
   Applicant's comments regarding this section of scoring:



      DCA's Comments:




2009 OAH Funding Application - April                                                          Part IX-Scoring Criteria                                                    50 of 1038
Georgia Department of Community Affairs                                                    2009 Funding Application                                                               Office of Affordable Housing
                                            PART NINE - SCORING CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                             Score               Self DCA
                                                                                                                                                                             Value              Score Score
                                                                                                                                                               TOTALS:           108             67    10
  C. Redevelopment Incentive Programs                      (choose only one)                                                                                                      3        C.     0     0
       1. Statutory Redevelopment Plans                           OR                                                                                                              3        1.     0
 OR    2. Redevelopment Zones                                     OR                        Type:                                      Number:                                    1        2.     0
 OR     3. Local Redevelopment Plan                                                            Name of Plan:                                                                      1        3.     0
      Indicate whether the Community Redevelop/Revitalization Plan includes the following and include the page number from the plan:             Page Nbr       Page Nbr                        Yes / No Yes / No
        a) A discussion of potential sources of funding for the plan                                                                        a)                                             a)
        b) A clearly delineated target area that includes the proposed project site                                                         b)                                             b)
        c) Detailed policy goals (one of which must be housing)                                                                             c)                                             c)
        d) Implementation measures and specific time frames for the achievement of such policies and housing activities                     d)                                             d)
        e) Proposed development supports at least one of the goals of the redevelopment or revitalization plan                              e)                                             e)
        f) An assessment of the existing physical structures and infrastructure of the community                                            f)                                             f)
      Indicate whether the Community Redevelop/Revitalization Plan is:                                                                           Page Nbr       Page Nbr                        Yes / No Yes / No
        a) formulated by the Owner of the project and submitted to a local government for approval                                          a)                                             a)
        b) a short-term work plan                                                                                                           b)                                             b)
        c) a comprehensive plan, consolidated plan, municipal zoning plan or land use plan                                                  c)                                             c)
        d) outdated and does not reflect the current neighborhood conditions                                                                d)                                             d)
      Applicant's comments regarding this section of scoring:




      DCA's Comments:




 7. PHASED DEVELOPMENTS / PREVIOUS PROJECTS                                                 (choose only one)                                                                     6                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.      0
 OR B. Previous Projects                                                                                                                                                          3        B.      0        0
     1. Proposed development site is w/in boundaries of Local Govt where a 9% Credit, 4% Credit and/or HOME project has not been awarded w/in last 4 DCA funding cycles.          3        1.      0
  or 2. Proposed development site is w/in boundaries of Local Govt where a 9% Credit, 4% Credit and/or HOME project has not been awarded w/in last 3 DCA funding cycles.          2        2.      0
    Applicant's comments regarding this section of scoring:



      DCA's Comments:




2009 OAH Funding Application - April                                                         Part IX-Scoring Criteria                                                                                  51 of 1038
Georgia Department of Community Affairs                                                              2009 Funding Application                                                    Office of Affordable Housing
                                                 PART NINE - SCORING CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                               Score          Self DCA
                                                                                                                                                                               Value         Score Score
                                                                                                                                                                     TOTALS:   108            67    10
 8. WAIVER OF QUALIFIED CONTRACT RIGHT / TENANT OWNERSHIP PLAN                                                                      (choose only one)                           2              2     0
       A. Waiver of Qualified Contract Right                                                                                                                                    2         A.   2
           Applicant agrees to forego the cancellation option for at least 5 years after the close of the Compliance period?              Yes
       B. Tenant Ownership                                                                                                                                                       1        B.
     Applicant's comments regarding this section of scoring:
 We agree to forgo the cancellation option for at least five years after the close of the Compliance Period as stated in the QAP.


       DCA's Comments:




 9. HISTORIC DESIGNATION                                                                                                            (choose only one)                            3             0       0
    A. Bldgs on project site are listed individually in National Register of Historic Places & will be preserved according to SHPO rqmts                                         3        A.   0
 OR B. Buildings on the project site are potentially eligible to be listed because they are located in a:
        1. "Registered historic district"                                                                                                                                        1        1.   0
  or    2. Potentially eligible district that contributes to the significance of the district and will be preserved                                                              1        2.   0
       Applicant's comments regarding this section of scoring:




       DCA's Comments:




 10. 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.   0
  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.   0
       Applicant's comments regarding this section of scoring:



       DCA's Comments:




 11. RURAL                                                                                                                          (80 residential units or less)               2             2
     Applicant's comments regarding this section of scoring:                                                                        DCA's Comments:
 See DCA rural list in Tab 1 and Powell Place is only 64 units.




2009 OAH Funding Application - April                                                                    Part IX-Scoring Criteria                                                                   52 of 1038
Georgia Department of Community Affairs                                                          2009 Funding Application                                                         Office of Affordable Housing
                                                PART NINE - SCORING CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                Score            Self DCA
                                                                                                                                                                                Value           Score Score
                                                                                                                                                               TOTALS:          108              67    10
 12. LOCAL GOVERNMENT SUPPORT                                                                                                                                                    4                4         0
  A. Resolution of Support                                                                                                                                                        3        A.      3
     The resolution clearly indicates that the Local Government understands the nature of the proposed project by identifying, at a minimum:                                                    Yes / No Yes / No
      a) Type of project                                                                                                                                                                   a)     Yes
      b) Number of anticipated units                                                                                                                                                       b)     Yes
      c) Specific project location                                                                                                                                                         c)     Yes
      d) The resolution clearly expresses the Local Government’s support of the proposed project, as opposed to merely expressing indifference                                             d)     Yes
  B. DCA Community Initiatives                                                                                                                                                    1        B.      1
            Letter from a designated            DCA Signature Community                              that clearly:                                                                              Yes / No Yes / No
       a)   identifies the project as located within their political jurisdiction    < Select applicable GICH >           Barnesville       <Select Community of Opportunity>              a)     Yes
       b)   is indicative of the community’s affordable housing goals                                                                                                                      b)     Yes
       c)   identifies that the project meets one of the objectives of the formal Program Plan                                                                                             c)     Yes
       d)   is excuted by the official representative of the Community                                                                                                                     d)     Yes

     Applicant's comments regarding this section of scoring:
 See TAB 36.
 Powell Place meets the affordable housing goals set out in the Barnesville Signature Community Plan
     DCA's Comments:




 13. LEVERAGING OF RESOURCES                                                                                                                                                     9                6         0
  A. Grants/Loans                                                                                                                                                                 3        A.     0         0
       1. Community Development Block Grant (CDBG) program funds ($500,000 minimum)                                                                                               1        1.      0
       2. Federal Home Loan Bank Affordable Housing Program (AHP) ($500,000 minimum)                                                                                              1        2.      0
       3. NSP allocated from a direct HUD allocation to an Entitlement Area (Minimum $1,000,000)                                                                                  3        2.      0

  B. Efficient use of DCA Resources                                                                                                                                               6        B.     6         0
       1. DCA OAH HOME Loan Consent                                                                                                                                               6        1.      6
       2. DCA allocated NSP funds ($1,000,000 minimum)                                                                                                                            6        2.      0

  C. Off Site Improvement, Amenity and Facility Investment                                                                                                                        1        C.      0
       1. Name of Unrelated Third Party
       2. Description of Improvement(s)
       3. Full Cost of Improvement

     Applicant's comments regarding this section of scoring:
 See HOME Loan Conset in TAB 5.


     DCA's Comments:




2009 OAH Funding Application - April                                                                Part IX-Scoring Criteria                                                                            53 of 1038
Georgia Department of Community Affairs                                                        2009 Funding Application                                                                   Office of Affordable Housing
                                             PART NINE - SCORING CRITERIA - 2009-005 Powell Place Apartments, Barnesville, Lamar County
                                                                                                                                                                                      Score                  Self DCA
                                                                                                                                                                                      Value                 Score Score
                                                                                                                                                                       TOTALS:          108                  67    10
 14. DCA OPTIONAL POINTS FOR SUPERIOR PROJECT CONCEPT                                                                                                                                     6                   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:
 We believe that this project has to total support and backing by the City of Barnesville. We have just completed an elderly project in Barnesville and the City was so impressed that they would help us with their support
 for another project.See TAB 38.
     DCA's Comments:




 15. COMPLIANCE HISTORY STATUS                                                                                                                                                           15                  15         0
     Is there a Pre-Determination Letter From DCA included in this application for this criterion?                                                                                                           Yes
     A. Owner/Developer                                                                                                                                                                                A.     15
     B. Manager (Pass or Fail)                                                                                                                                                                         B.    Pass
     Applicant's comments regarding this section of scoring:
 See Tab 3 for score sheets.




     DCA's Comments:




                                                                                                TOTAL POSSIBLE SCORE                                                                   108                   67        10




2009 OAH Funding Application - April                                                             Part IX-Scoring Criteria                                                                                           54 of 1038
                        [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 2009 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.


2008 QAP
OAH Form - Core                                DCA Office of Affordable Housing                              Page 55 of 1038
     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]




2008 QAP
OAH Form - Core                               DCA Office of Affordable Housing                            Page 56 of 1038
                                                                                       SUMMARY OF DCA UNDERWRITING ASSUMPTIONS
Category                                                 Specification                                Scale                                                                                 Minumum Maximum
Funding Limits                                           LIHTC                                        Per Project                                                                             n/a            850,000
                                                                                                      Per Project with Tier 1 Developer                                                       n/a            950,000
                                                                                                      Per Round                                                                               n/a           1,700,000
                                                                                                      Per Round with Tier 1 Developer                                                         n/a           1,800,000
                                                         HOME                                         Per Project                                                                          1,000,000        2,500,000
                                                                                                          0 BR            1 BR          2 BR           3 BR       4 BR      5 BR
                                                         Unit Cost Limit                                102,000        117,000       142,000         184,000    202,000   202,000
                                                         HOME Per Unit Subsidy Limit                    102,000        117,000       142,000         184,000    202,000   202,000
Annual Operating Expenses
  Annual Operating Expenses                              Urban                                        Per Unit                                                                                 3,600           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                                                                                   300           n/a
                                                         New                                          Per Unit                                                                                   240           n/a
                                                         All Single Family                            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                                                      4,500
                                                         DCA Loan Application Fee                     Per Project - Nonprofit                                                                        4,000
                                                         DCA Loan / LIHTC Application Fee             Per Project - For Profit or Joint Venture                                                      4,500
                                                         DCA Loan / LIHTC Application Fee             Per Project - Nonprofit                                                                        4,000
   Hard Costs                                            Rehab                                        Per unit - Properties 20 yrs old or less                                              20,000           see UCL
                                                                                                      Per unit - Properties over 20 yrs old                                                 25,000           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's Overhead                                    n/a                                          % of Construction Hard Costs - Construction Svcs                                        n/a               2%
   Builder Profit                                        n/a                                          % of Construction Hard Costs - Construction Svcs                                        n/a               6%
   General Requirements                                  n/a                                          % of Construction Hard Costs - Construction Svcs                                        n/a               6%
   LIHTC Allocation Fee                                  LIHTC Fee                                    Percent of Credit Request                                                                        7%
   4% LIHTC IRS Form 8609 Fee                            LIHTC Fee                                    Percent of Credit Request                                                                        5%
   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)                                                 4                n/a
                                                                                                      Mths of Year 1 O&M Expense (out of 12)                                                  4                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%
                                                        PART ONE - PROJECT INFORMATION - 2009-005 Powell Place A

Please note:                                        Blue-shaded cells are unlocked for your use and do not contain references/
                                                    Green-shaded cells are unlocked for your use and do contain references/for

I.                    DCA RESOURCES                                LIHTC (auto-filled based on later entries)
                                                                   DCA HOME (Pre-Application amount)

II.                   TYPE OF APPLICATION                         Competitive Round

III.                  APPLICANT CONTACT FOR APPLICATION REVIEW

                      Name                                         Allan Rappuhn
                      Address                                      920 Florence Blvd
                      City                                         Florence
                      State                                        AL
                      Office Phone                                 ##########
                      (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)

IV.                   PROJECT LOCATION

                      Project Name                                 Powell Place Apartments
                      Site Street Address                          Trojan Way
                      City                                         Barnesville
                      Within City Limits?                         Yes
                      In USDA Rural Area?                          Yes                            HUD MSA/NonMSA name

                                                                   Congressional                State Senate
                      Legislative Districts                        3                            16
                      If on boundary, other district:              0                            0

                      Political Jurisdiction                       City of Barnesville
                      Name of Chief Elected Official               Peter L. Banks
                      Address                                      109 Forsyth Street
                      Zip+4                                         30204-0000                       Phone

V.                    PROJECT DESCRIPTION

               A.     Mixed Use                                          No

               B.     Type of Construction:
                      New Construction                                   64
                      Adaptive Reuse                                      0
                      Acquisition/Rehab                                   0
                      Substantial Rehab                                   0
                      Historic Rehab                                      0

                    C. Unit Breakdown
                       Number of Low Income Units                                               63
                                   Number of 50% Units                                          11
                                   Number of 60% Units                                          52
                       Number of NSP 120% Units                                                 0
                   Number of Unrestricted Units                                           0
                   Total Residential Units                                                63
                   Common Space Units                                                     1
                   Total Units                                                            64

              E.   Buildings     Number of Residential Buildings                          8
                                 Number of Non-Residential Buildings                      1
                                 Total Number of Buildings                                9

              F.   Total Residential Parking Spaces (min 1.5 per unit)                    128

        VI.        TENANCY CHARACTERISTICS

              A.   Family or Senior                                                       Family

              B.   Mobility Impaired                              Nbr of Units Equipped: 4

              C.   Sight / Hearing Impaired                       Nbr of Units Equipped: 2

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)

              C.   Neighborhood Stabilization Funds (NSP)

VII.               SET ASIDES


              A.   Competitive Round Set-Aside(s):                                        0
                                                                                          0

              B.   Other (non-Competitive)                                                0

VIII.              TAX EXEMPT BOND FINANCED PROJECT

                   Issuer:                     0
                   Office Street Address       0
                   City                        0                                                State
                   Contact Name                0                                                Title
                   10-Digit Office Phone                    -                                   Fax

IX.                AWARD LIMITATIONS FOR CURRENT DCA COMPETITIVE ROUND

                   The following sections apply to all direct and indirect Owners, Developers and Consultants (Entity a

              A.   Number of Applications Submitted:                                             2

              B.   Amount of Federal Tax Credits in All Applications:                         1,546,683

              C.   Names of Projects in which an Owner, Developer and Consultant(s) and each of its principa
           Project Participant                       Name of Project
           Gateway Construction Corp.                Woodlawn Terrace Apartments
           0                                         0
           0                                         0
           0                                         0
           0                                         0
           0                                         0
           0                                         0
           0                                         0
           0                                         0
           0                                         0

      D.   Names of

           Project Participant                       Name of Project
           Gateway Construction                      Azalea Mill Cottages
           0                                         0
           0                                         0
           0                                         0
           0                                         0
           0                                         0
           0                                         0
           0                                         0
           0                                         0
           0                                         0

X.         PRESERVATION                                                                0

      A.   Subsequent Allocation
           Year of Original Allocation                                                 0
           Original GHFA/DCA Project Number                                                 0
           First Year of Credit Period                                                  0
           Expiring Tax Credit (15 Year)                                                0
           Date all buildings will complete 15 yr Compliance pd                    ##########

      B.   Expiring Section 8                                                          0

      C.   Expiring HUD or USDA
           HUD funded affordable nonpublic housing project                             0
           USDA funded affordable nonpublic housing project                            0

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:
           Nbr of Units Reserved and Rented to PHA Tenants w/ PBRA or Households on Waiting List:
           Local PHA                    0
           Street Address               0
           City                         0
           Area Code / Phone                          -                             Fax
            B.   Is there currently an Extention of 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
                 Per-Unit Cost Limit?
                 Operating Expense?
                 Amenities?
                 Architectural Standards?
                 Experience: Owner?            Yes        Developer?      Yes       Manager?
                 HOME Reservation?
                 Payment & Performance Bond?
                 Noise?
                 Other (specify waiver):   0

            F.   Projected Place-In-Service Date
                 Acquisition
                 Rehab
                 New Construction

XII.             APPLICANT COMMENTS AND CLARIFICATIONS
0
0
0
0



                                                                    PART TWO - DEVELOPMENT TEAM INFOR

I.     OWNERSHIP INFORMATION

       A.        OWNERSHIP ENTITY                                                      Powell Place Apartments, L
                                           Office Street Address                       920 Florence Blvd.
                                           City                                        Florence
                                           State                                            AL
                                           10-Digit Office Phone / Ext.                ##########
                                           (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567
       B.        PROPOSED PARTNERSHIP INFORMATION

                 1.           GENERAL PARTNER(S)

                              a.           Managing Gen'l Partner                      Gateway Powell Place, LLC
                                           Office Street Address                       920 Florence Blvd.
                                           City                                        Florence
                                           State                                            AL
                                           10-Digit Office Phone / Ext.                ##########
                            b.        Other General Partner          0
                                      Office Street Address          0
                                      City                           0
                                      State                                0
                                      10-Digit Office Phone / Ext.              -

                            c.        Other General Partner          0
                                      Office Street Address          0
                                      City                           0
                                      State                                0
                                      10-Digit Office Phone / Ext.              -

                2.          LIMITED PARTNERS (PROPOSED OR ACTUAL)

                            a.        Federal Limited Partner        TBD
                                      Office Street Address          0
                                      City                           0
                                      State                                0
                                      10-Digit Office Phone / Ext.              -

                            b.        State Limited Partner          TBD
                                      Office Street Address          0
                                      City                           0
                                      State                                0
                                      10-Digit Office Phone / Ext.              -

                       3. NONPROFIT SPONSOR

                                      Nonprofit Sponsor              0
                                      Office Street Address          0
                                      City                           0
                                      State                                0
                                      10-Digit Office Phone / Ext.              -
II.   DEVELOPER(S)

      A.        DEVELOPER                                            Gateway Construction Corp
                                      Office Street Address          920 Florence Blvd.
                                      City                           Florence
                                      State                               AL
                                      10-Digit Office Phone / Ext.   ##########

      B.        CO-DEVELOPER 1                                       Gateway Properties, LLC
                                      Office Street Address          920 Florence Blvd.
                                      City                           Florence
                                      State                               AL
                                      10-Digit Office Phone / Ext.   ##########

      C.        CO-DEVELOPER 2                                       0
                                      Office Street Address          0
                                      City                           0
                                      State                                0
                                      10-Digit Office Phone / Ext.              -
       D.          DEVELOPMENT CONSULTANT                                              0
                                      Office Street Address                            0
                                      City                                             0
                                      State                                                  0
                                      10-Digit Office Phone / Ext.                                  -

III.   OTHER PROJECT TEAM MEMBERS

       A.          OWNERSHIP CONSULTANT                                                0
                                      Office Street Address                            0
                                      City                                             0
                                      State                                                  0
                                      10-Digit Office Phone / Ext.                                  -

       B.          GENERAL CONTRACTOR                                                  Park Lane Construction LLC
                                           Office Street Address                       109 Village Street
                                           City                                        Birmingham
                                           State                                            AL
                                           10-Digit Office Phone / Ext.                ##########

       C.          MANAGEMENT COMPANY                                                  Hall Housing Investments In
                                     Office Street Address                             P.O. Box 6657
                                     City                                              Dothan
                                     State                                                   AL
                                     10-Digit Office Phone / Ext.                      ##########

       D.          ATTORNEY                                                            Coleman, Talley, Newburn,
                                           Office Street Address                       910 N. Patterson Street
                                           City                                        Valdosta
                                           State                                           GA
                                           10-Digit Office Phone / Ext.                ##########


       E.          ACCOUNTANT                                                          Donald Causey
                                           Office Street Address                       516 Walnut Street
                                           City                                        Gadsden
                                           State                                           AL
                                           10-Digit Office Phone / Ext.                ##########

       F.          ARCHITECT                                                           McKean & Associates
                                           Office Street Address                       2815-B Zelda Road
                                           City                                        Montgomery
                                           State                                           AL
                                           10-Digit Office Phone / Ext.                ##########

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

                                                                          2. Has any person, principal, or agent
                                                          1. Is this
                                                                          for this entity ever been convicted of a
                          Participant                     entity a
                                                                            felony (Yes or No)?. If yes, attach
                                                         MBE/ WBE?
                                                                                         explanation.
                                                                                            2. Has any person, principal, or agent
                                                                             1. Is this
                                                                                            for this entity ever been convicted of a
                                         Participant                         entity a
                                                                                              felony (Yes or No)?. If yes, attach
                                                                            MBE/ WBE?
                                                                                                           explanation.
                  Managing General Partner                                       No       No
                  Other General Partner 1                                         0       0
                  Other General Partner 2                                         0       0
                  Federal Limited Partner                                         0       0
                  State Limited Partner                                           0       0
                  Nonprofit Sponsor                                               0       0
                  Developer                                                      No       No
                  Co-Developer 1                                                 No       No
                  Co-Developer 2                                                  0       0
                  Owner Consultant                                                0       0
                  Developer Consultant                                            0       0
                  Contractor                                                     No       No
                  Management Company                                             No       No

V.                              APPLICANT COMMENTS AND CLARIFICATIONS

Allan Rappuhn
has a common
ownership
interest in the
developer, co-
developer and
the general
partner.

0
0
0
0



                                                                        PART THREE - SOURCES OF FUNDS - 2009-005 Powell P

I.                GOVERNMENT FUNDING SOURCES (check all that apply)

                      Yes       Tax Credits                        No       USDA 515                          No
                      Yes       DCA HOME*                          No       USDA 538                          No
                      No        Other HOME*                        No       CDBG                              No
                      No        DCA PSHP HOME*                     No       FHA Risk Share                    No
                  *This source may possibly trigger Uniform Relocation Act and/or HUD 104(d) reqmts. Check with source. For DCA HOME,
II.               CONSTRUCTION FINANCING

                  Financing Type                                                           Name of Financing Entity
                  Mortgage A                                                              Sterling Bank
                  Mortgage B                                                              DCA HOME Loan
                  Mortgage C                                                              0
                  Federal Grant                                                           0
                  State, Local, or Private Grant                                          0
                  Deferred Developer Fees                                                 0
                  Federal Housing Credit Equity                                           0
                  State Housing Credit Equity                                             0
                   Other Source (specify)     0                                                  0
                   Other Source (specify)     0                                                  0
                   Other Source (specify)     0                                                  0
                   Total Construction Financing:
                   Total Construction Period Costs from Development Budget:
                   Surplus/(Shortage) of Construction funds to Construction costs:

      III.         PERMANENT FINANCING

                   Financing Type                            Name of Financing Entity                  Principal Amount
                   N/A                                      Neither                                    0
                   Mortgage A                               DCA HOME Loan                              1,000,000
                   Mortgage B                               0                                          0
                   Other:         0                         0                                          0
                   Funding Source for Costs>PUCL            0                                          0
                   Deferred Devlpr Fee            0.07%     Gateway Construction Corporation           762
                   Federal Grant                            0                                          0
                   State, Local, or Private Grant           0                                          0
                   Federal Housing Credit Equity            0                                          5,613,077
                   State Housing Credit Equity              0                                          2,004,670
                   Historic Credit Equity                   0                                          0
                   Invstmt Earnings: T-E Bonds              0                                          0
                   Invstmt Earnings: Taxable Bonds          0                                          0
                   Income from Operations                   0                                          0
                   Other:         0                         0                                          0
                   Other:         0                         0                                          0
                   Other:         0                         0                                          0
                   Total Permanent Financing:                                                            8,618,509
                   Total Development Costs from Development Budget:                                      8,618,509
                   Surplus/(Shortage) of Permanent funds to development costs:                                    0




      IV.          APPLICANT COMMENTS AND CLARIFICATIONS

      0
      0
      0
      0
      0



PART III B: USD 538 LOAN - 2009-005 Powell Place Apartments, Barnesville, Lamar County

                                       I. Data Input

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

PART III C - HUD INSURED LOAN - 2009-005 Powell Place Apartments, Barnesville, Lamar County

                                              I. Data Input

         Loan Amount:                                     $0.00 NOTE: If this section is
                                                                completed,       then
         Interest Rate:                Investor Rate  0.000%    Applicant must also
                                       Servicing Fee 0.000%     complete the "Additional
                                       GNMA Gty Fee 0.000%      HUD Requirements"
                                       Effective Rate 0.000%    section in the Threshold

         HUD Mortgage Insurance Premium                  0.00%     per annum

         Loan Term                                         0       years

         Amortization Period                               0       years

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

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


                   PART III D - HOME ALLOCATION WORKSHEET - 2009-005 Powell Place Apartments, Barnesville, Lamar Cou

                                                                            Method I
                                                       Per Unit     Proposed                               Per Unit
                          HOME                          HOME         Nbr. of                                HOME
                          Subsidy      Unit Type       Subsidy     HOME Units                              Subsidy
                          Limitation
                          (See         Efficiency      $102,000         0                                     $0
                          Threshold    1 Bedroom       $117,000         3                  Total Per-      $351,000
                          Section M)   2 Bedroom       $142,000         3                  Unit HOME       $426,000
                                       3 Bedroom       $184,000         3                  Subsidy         $552,000
                                       4+ Bedroom      $202,000         0                  Limit for          $0
                                                                        9                  Project:       $1,329,000

                                                                           Method II
                                                                                              Check
                          Number of HOME Units Specified in Application 9                       0
                          Number of Total Units Specified in Application 64                    64
                          HOME Percent of Total Units                  14.063%               0.000%   (Formula: HOME Percent of Total
                          Total Development Costs (TDC)               $8,618,509           $8,618,509
                          Reserves Held for more than 18 months:
                           Operating Deficit Reserve                   $93,417               $93,417
                           Other       0                                  $0
                           Other       0                                  $0
             Total HOME Eligible Costs                                 $8,525,092                  $8,525,092

                                                                   Eligible HOME Amount

                                                    $1,329,000
             Eligible HOME Amount is the Lesser of Method I or II                              Maximum DCA HOME loan is $2,500,000 for Rural
              (or Amount the project Needs for Feasibility, if less)
                                                   $1,000,000
             Requested HOME Loan Amount (HOME Investment)                                      When submitted at Application Deadline, this amoun
                                                                                               the amount shown on the DCA HOME Loan Consen
             Per Unit HOME Investment               $111,111
                                                                                               Letter.
                                                    11.730%
             HOME Investment Proportion of Total HOME Eligible Cost                            (Formula: HOME Investment Proportion of Total El
                                                                                               Total HOME Request (Investment) / Total HOME El


Applicant Comments                                                                  DCA Comments
0                                                                                   0

0                                                                                   0




                                                                                                       PART FOUR - USES OF FUNDS

                                                                                                          CERTIFICATION OF ACTUAL C

I.           DEVELOPMENT BUDGET
                                                                                         TOTAL COST

             PRE-DEVELOPMENT COSTS
             Property Appraisal                                                                        10,000
             Market Study                                                                               5,000
             Environmental Report(s)                                                                    8,250
             Soil Borings                                                                               5,000
             Boundary and Topographical Survey                                                         13,500
             Zoning/Site Plan Fees                                                                        250
             Other:        0                                                                              -
             Other:        0                                                                              -
             Other:        0                                                                              -
                                                                         Subtotal                      42,000

             ACQUISITION
             Land                                                                                    280,000
             Demolition                                                                                  -
             Acquisition Legal Fees (if existing structures)                                             -
             Existing Structures                                                                         -
                                                                         Subtotal                    280,000

             SITE IMPROVEMENTS
             Site Preparation (On-site)                                                              320,000
             Site Preparation (Off-site)                                                                 -
                                                                         Subtotal                    320,000

             UNIT/BUILDING CONSTRUCTION*
     Unit/Building Construction/New Construction                       4,640,000
     Unit/Building Construction/Rehab                                        -
     Project Amenities / Accessory Buildings                                 -
     Other:         0                                                        -
     Construction Contingency                                            282,720
                                                    Subtotal           4,922,720

     CONTRACTOR SERVICES
     Builder's Overhead:                 0.00%               -            99,200
     Builder Profit:                     0.00%               -           297,600
     General Requirements                0.00%               -           297,600
                     includes
                     Payment/performance bond or
                     letter-of-credit fee or premium Subtotal            694,400
     Total Construction Costs           88,350.00 per unit
     5,654,400.00                            88.24 per sq ft

I.   DEVELOPMENT BUDGET
                                                                 TOTAL COST


     CONSTRUCTION PERIOD FINANCING
     Construction Loan Fee                                                57,448
     Construction Loan Interest                                          321,710
     Construction Legal Fees                                              15,000
     Construction Period Real Estate Tax                                  15,000
     Construction Insurance                                               21,000
     Bridge Loan Fee and Bridge Loan Interest                                -
     Other:        0                                                         -
                                                    Subtotal             430,158

     PROFESSIONAL SERVICES
     Architectural Fee - Design                                           76,800
     Architectural Fee - Supervision                                      38,400
     Engineering                                                          35,000
     Real Estate Attorney                                                 40,000
     Accounting                                                            7,500
     Other:         0                                                        -
                                                    Subtotal             197,700

     LOCAL GOVERNMENT FEES
     Building Permits                                                     80,000
     Impact Fees                                                             -
     Water Tap Fees     waived?                      No                   96,000
     Sewer Tap Fees     waived?                      No                   96,000
                                                    Subtotal             272,000

     PERMANENT FINANCING FEES
     Permanent Loan Fees                                                  10,000
     Permanent Loan Legal Fees                                            15,000
     Title and Recording Fees                                             21,546
     As-Built Survey                                                      15,000
     Bond Issuance Premium                                                    -
     Cost of Issuance / Underwriter's Discount                                -
     Other:        0                                                          -
                                                 Subtotal                  61,546


I.   DEVELOPMENT BUDGET
                                                              TOTAL COST


     DCA-RELATED COSTS
     DCA HOME Loan Pre-Application Fee                                     500
     Tax Credit Application Fee                                          4,000
     DCA Waiver Fees                                                       -
     LIHTC Allocation Processing Fee         #VALUE!                    56,136
     LIHTC Compliance Monitoring Fee             44,800                 44,800
     DCA Front End Analysis Fee (HOME, when ID of Interest)              6,000
     DCA Final Inspection Fee                                            3,000
     Other:       0                                                        -
                                              Subtotal                 114,436

     EQUITY COSTS
     Partnership Organization Fees                                            500
     Tax Credit Legal Opinion                                               2,000
     Syndicator Legal Fees                                                    -
     Other:       0                                                           -
                                                 Subtotal                   2,500

     DEVELOPER'S FEE
     Developer's Overhead                                               543,816
     Consultant's Fee                                                       -
     Developer's Fee                                                    543,816
                                                 Subtotal             1,087,632

     START-UP AND RESERVES
     Marketing                                                          30,000
     Rent-Up Reserves                                                   30,000
     Operating Deficit Reserve:                                         93,417
     Replacement Reserve                                                   -
     Furniture, Fixtures and Equipment                                  40,000
     Other:         0                                                      -
                                                 Subtotal              193,417

     OTHER COSTS
     Relocation                                                               -
     Other:     0                                                             -
     Other:     0                                                             -
                                                 Subtotal                     -

     TOTAL DEVELOPMENT COST                                           8,618,509

     Total Per Unit Cost Limitation:                           9,896,000
                  Per Unit Cost Limitation Waiver Amount:                                                     0

II.               TAX CREDIT CALCULATION - BASIS METHOD

                  Subtractions From Eligible 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         0
                  Total Subtractions From Basis:

                  Eligible Basis Calculation
                  Total Basis
                  Less Total Subtractions From Basis (see above)
                  Total Eligible Basis
                  Eligible Basis Adjustment for DDA/QCT Location or State Designated 30% Basis Boost
                  Adjusted Eligible Basis
                  Multiply Adjusted Eligible Basis by Applicable Fraction
                  Qualified Basis
                  Multiply Qualified Basis by Applicable Credit Percentage
                  Maximum Tax Credit Amount
                  Total Basis Method Tax Credit Calculation

III.              TAX CREDIT CALCULATION - GAP METHOD

                  Equity Gap Calculation
                  Total Development Cost (<= DCA Wvr or PUCL; explain in Comments if TDC > PUCL w/o DCA Wvr Approval)
                  Subtract Non-Tax Credit (excluding deferred fee) Source of Funds
                  Equity Gap
                  Divide Equity Gap by 10
                  Annual Equity Required
                  Enter Final Federal and State Equity Factors (not including GP contribution)
                  Total Gap Method Tax Credit Calculation

IV.               TAX CREDIT ALLOCATION


V.                APPLICANT COMMENTS AND CLARIFICATIONS
Construction Hard Costs for the proposed product type held at about $85,000 per unit. We have added approximately $3,000 per unit for Green Building techniques as estim
0
0
0
0




                                                             PART FIVE - UTILITY ALLOWANCES - 2009-005 Powell Place Apartments,

I.                UTILITY ALLOWANCE SCHEDULE #1                                              Source of Utility Allowances
                                                                  Date of Utility Allowances

                                                                     Paid By (check one)
      Utility                    Fuel                                Tenant       Owner
      Heat                       Electric Heat Pump                    X            0
      Air Conditioning           Electric                              X            0
      Cooking                    Electric                              X            0
      Hot Water                  Electric                              X            0
      Lights                     Electric                              X            0
      Water & Sewer              Submetered?        No                 X            0
      Refuse Collection                                                0            X
      Total Utility Allowance by Unit Size

II.   UTILITY ALLOWANCE SCHEDULE #2                               Source of Utility Allowances
                                                                  Date of Utility Allowances

                                                                     Paid By (check one)
      Utility                    Fuel                                Tenant       Owner
      Heat                       <<Select Fuel >>                      0            0
      Air Conditioning           Electric                              0            0
      Cooking                    <<Select Fuel >>                      0            0
      Hot Water                  <<Select Fuel >>                      0            0
      Lights                     Electric                              0            0
      Water & Sewer              Submetered? <Select>                  0            0
      Refuse Collection                                                0            0
      Total Utility Allowance by Unit Size

      *Elderly allowances cannot be used except at properties that have 100% HUD PBRA and satisfy the DCA definition of "elde

      APPLICANT COMMENTS AND CLARIFICATIONS
      0
      0

      DCA COMMENTS
      0
      0




                                                       PART SIX - PROJECTED REVENUES & EXPENSES - 2009-005

I.    RENT SCHEDULE                 DO NOT cut, copy or paste cells in this tab. Assign a Rent Type of "N/A-CS" to

      HOME projects - Fixed or Floating units:                                      Floating     HOME projects must indicat
      Are 100% of units HUD PBRA?                                                      No

           Rent          Nbr of         No. of          Unit           Unit         HOME          Max Gross
           Type         Bdrms           Baths          Count          Area            Unit        Rent Limit
          50% AMI          1                     1.0     2             850            Yes            475
          50% AMI          2                     2.0     1             965            Yes            570
          50% AMI          3                     2.0     1            1,100           Yes            701
          50% AMI          1                     1.0     2             850            No             506
                 50% AMI            2                 2.0   2          965               No       607
                 50% AMI            3                 2.0   3         1,100              No       701
                 60% AMI            1                 1.0   1          850               Yes      475
                 60% AMI            2                 2.0   2          965               Yes      570
                 60% AMI            3                 2.0   2         1,100              Yes      751
                 60% AMI            1                 1.0   3          850               No       607
                 60% AMI            2                 2.0   26         965               No       729
                 60% AMI            3                 2.0   18        1,100              No       842
                  N/A-CS            2                 2.0   1          965               No        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
                     0              0                 -     0           0                 0        0
      0                                             TOTAL        64     64,080


II.            UNIT SUMMARY
               Units:                                                                          Efficiency
                              Low-Income                                         60% AMI                -
                                                                                 50% AMI                -
                                                                                 Total                  -
                              NSP                                                120% AMI               -
                              Unrestricted                                                              -
                              Total Residential                                                         -
                              Common Space                                                              -
NOTE TO APPLICANTS:           Total                                                                     -
If the numbers compiled
in this Summary do not HOME                                       0              60% AMI                -
appear to match what       (included in LI above)                                50% AMI                -
was entered in the Rent
Chart above, please
verify that all applicable
columns were
completed in the rows
used above.
NOTE TO APPLICANTS:
If the numbers compiled
in this Summary do not
appear to match what
was entered in the Rent                                                            Total              -
Chart above, please
verify that all applicable NSP                                                     60% AMI            -
columns were               (included in LI above)                                  50% AMI            -
completed in the rows                                                              Total              -
used above.
                              PBRA-Assisted                                        60% AMI            -
                              (included in LI above)                               50% AMI            -
                                                                                   Total              -
                              Type of Construction Activity
                                                          New Construction         Low Inc            -
                                                                                   NSP 120%           -
                                                                                   Unrestricted       -
                                                                                   Total + CS         -
                                                          Acq/Rehab                Low Inc            -
                                                                                   NSP 120%           -
                                                                                   Unrestricted       -
                                                                                   Total + CS         -
                                                          Substantial Rehab Only   Low Inc            -
                                                                                   NSP 120%           -
                                                                                   Unrestricted       -
                                                                                   Total + CS         -
                                                          Adaptive Reuse                              -
                                                          Historic Rehab                              -
                              Building Type:
                                                          Multifamily                                 -
                                                          SF Detached                                 -
                                                          Townhome                                    -
                                                          Duplex                                      -
                                                          Manufactured home                           -
II.            UNIT SUMMARY (continued)
               Unit Square Footage:
                            Low Income                                             60% AMI            -
                                                                                   50% AMI            -
                                                                                   Total              -
                              NSP                                                  120% AMI           -
                              Unrestricted                                                            -
                              Total Residential                                                       -
                              Common Space                                                            -
                              Total                                                                   -
III.           ANCILLARY AND OTHER INCOME (annual amounts)

               Ancillary Income                                                                   6,410

               Other Income (OI) by Year:

               Included in Mgt Fee:                                                        1      2
               Operating Subsidy                                                           0      0
      Other:           0                                       0            0
                       Total OI in Mgt Fee                          -            -
      NOT Included in Mgt Fee:
      USDA 538 Loan Interest Credit (fill in Part III A tab)            0            0
      Property Tax Abatement                                   0            0
      Other:       0                                           0            0
                       Total OI NOT in Mgt Fee                      -            -


      Included in Mgt Fee:                                     11           12
      Operating Subsidy                                         0            0
      Other:        0                                           0            0
                       Total OI in Mgt Fee                          -            -
      NOT Included in Mgt Fee:
      USDA 538 Loan Interest Credit (fill in Part III A tab)            0            0
      Property Tax Abatement                                   0            0
      Other:       0                                           0            0
                       Total OI NOT in Mgt Fee                      -            -


      Included in Mgt Fee:                                     21           22
      Operating Subsidy                                         0            0
      Other:        0                                           0            0
                       Total OI in Mgt Fee                          -            -
      NOT Included in Mgt Fee:
      USDA 538 Loan Interest Credit (fill in Part III A tab)            0            0
      Property Tax Abatement                                   0            0
      Other:       0                                           0            0
                       Total OI NOT in Mgt Fee                      -            -

IV.   ANNUAL OPERATING EXPENSE BUDGET
      On-Site Staff Costs
      Management Salaries & Benefits                           30,000
      Maintenance Salaries & Benefits                           9,743
      Support Services Salaries & Benefits                          0
      Other (describe here)                                         0
                              Subtotal                         39,743

      On-Site Office Costs
      Office Supplies & Postage                                 3,000
      Telephone                                                 2,000
      Travel                                                      300
      Leased Furniture / Equipment                                  0
      Activities Supplies / Overhead Cost                           0
      Other (describe here)                                         0
                              Subtotal                          5,300

      Maintenance Expenses
      Contracted Repairs                                        6,208
      General Repairs                                           4,816
      Grounds Maintenance                                      13,888
                    Extermination                                                                                              4,800
                    Maintenance Supplies                                                                                           0
                    Elevator Maintenance                                                                                           0
                    Redecorating                                                                                               3,200
                    Other (describe here)                                                                                          0
                                                Subtotal                                                                      32,912
V.                  APPLICANT COMMENTS AND CLARIFICATIONS
Real Estate Taxes are computed as follows: Estimated Tax Value of $5,654,400 X 40% X .0290 (local millige rate)




Estimated Insured Value of $5,654,400 X .0038




0




0




0




                                           PART SEVEN - OPERATING PRO FORMA - 2009-005 Powell Place Apartments, , County

I. OPERATING ASSUMPTIONS                                      Please Note:                             Green-shaded cells are unlocked for your use and contain reference


Revenue Growth2.00%                                           Asset Management Fee Amount                                      2,500     Yr 1 Asset Mgt Fee Per
Expense Growth3.00%                                           Incentive Management Fee Amount                                    -       Yr 1 Incent Mgt Fee Per
              3.00%
Reserves Growth                                               Property Mgt Fee Growth Rate (choose one):                                 Yr 1 Prop Mgt Fee Perc
              7.00%
Vacancy & Collection Loss                                        Expense Growth Rate (3.00%)                                      Yes --> If Yes, indicate Yr 1 Mg
              2.00%
Ancillary Income Limit                                           Percent of Effective Gross Income                                 No --> If Yes, indicate actual p

II. OPERATING PRO FORMA

Year                      1                            2                   3                    4                    5              6               7
Revenues          320,520                       326,930             333,469              340,138              346,941        353,880         360,958
Ancillary Income    6,410                           -                   -                    -                    -              -               -
Vacancy                -                            -                   -                    -                    -              -               -
Other Income (OI)      -                            -                   -                    -                    -              -               -
                       -
OI Not Subject to Mgt Fee                           -                   -                    -                    -              -               -
Expenses less Mgt Fee-                              -                   -                    -                    -              -               -
Property Mgmt          -                            -                   -                    -                    -              -               -
Reserves               -                            -                   -                    -                    -              -               -
NOI               326,930                       326,930             333,469              340,138              346,941        353,880         360,958
                       -                            -                   -                    -                    -              -               -
                     -            -          -          -          -          -          -
D/S Mortgage A (56,228)       (55,271)   (54,232)   (53,109)   (51,896)   (50,591)   (49,190)
D/S Mortgage B       -            -          -          -          -          -          -
D/S Other Source     -            -          -          -          -          -          -
D/S Other Source     -            -          -          -          -          -          -
DCA HOME Cash Resrv. -            -          -          -          -          -          -
Asset Mgmt        (2,500)      (2,500)    (2,500)    (2,500)    (2,500)    (2,500)    (2,500)
DDF                 (762)         -          -          -          -          -          -
Incentive Mgmt       -            -          -          -          -          -          -
Cash Flow        267,440      269,159    276,737    284,529    292,545    300,789    309,268


DCR First Mortgage 5.81          5.92       6.15       6.40       6.69       6.99       7.34
DCR Second Mortgage
DCR Other Source
DCR Other Source
                   Ratio
Oper Exp Coverage#DIV/0!       #DIV/0!    #DIV/0!    #DIV/0!    #DIV/0!    #DIV/0!    #DIV/0!
                     -            -          -          -          -          -          -
                 953,560
Mortgage A Balance            907,614    862,251    817,560    773,638    730,587    688,510
Mortgage B Balance
Other Source Balance
Other Source Balance
DDF Balance          -            -          -          -          -          -          -

Year                     11         12         13         14         15         16         17
Revenues               -          -          -          -          -          -          -
Ancillary Income       -          -          -          -          -          -          -
Vacancy                -          -          -          -          -          -          -
Other Income (OI)      -          -          -          -          -          -          -
                       -
OI Not Subject to Mgt Fee         -          -          -          -          -          -
Expenses less Mgt Fee-            -          -          -          -          -          -
Property Mgmt          -          -          -          -          -          -          -
Reserves               -          -          -          -          -          -          -
NOI                    -          -          -          -          -          -          -
             0         -          -          -          -          -          -          -
             0         -          -          -          -          -          -          -
             0     (42,538)   (40,591)   (38,522)   (36,324)   (33,994)   (31,525)   (28,913)
             0         -          -          -          -          -          -          -
D/S Other Source       -          -          -          -          -          -          -
D/S Other Source       -          -          -          -          -          -          -
DCA HOME Cash Resrv.   -          -          -          -          -          -          -
Asset Mgmt          (2,500)    (2,500)    (2,500)    (2,500)    (2,500)    (2,500)    (2,500)
DDF                    -          -          -          -          -          -          -
Incentive Mgmt         -          -          -          -          -          -          -
Cash Flow          (45,038)   (43,091)   (41,022)   (38,824)   (36,494)   (34,025)   (31,413)
             0
             0
             0         -          -          -          -          -          -          -
V.
DCR Other Source
DCR Other Source
                     Ratio
Oper Exp Coverage#DIV/0!       #DIV/0!    #DIV/0!    #DIV/0!    #DIV/0!    #DIV/0!    #DIV/0!
                       -          -            -            -            -            -            -
                  532,250
First Mortgage Balance        496,820      463,112      431,273      401,456      373,819      348,528
Second Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance            -          -            -            -            -            -            -

Year                     21           22           23           24           25           26           27
Revenues               -          -            -            -            -            -            -
Ancillary Income       -          -            -            -            -            -            -
Vacancy                -          -            -            -            -            -            -
Other Income (OI)      -          -            -            -            -            -            -
                       -
OI Not Subject to Mgt Fee         -            -            -            -            -            -
Expenses less Mgt Fee-            -            -            -            -            -            -
Property Mgmt          -          -            -            -            -            -            -
Reserves               -          -            -            -            -            -            -
NOI                    -          -            -            -            -            -            -
             0         -          -            -            -            -            -            -
             0         -          -            -            -            -            -            -
             0         -          -            -            -            -            -            -
             0         -          -            -            -            -            -            -
D/S Other Source       -          -            -            -            -            -            -
D/S Other Source       -          -            -            -            -            -            -
DCA HOME Cash Resrv.   -          -            -            -            -            -            -
Asset Mgmt             -          -            -            -            -            -            -
DDF                    -          -            -            -            -            -            -
Incentive Mgmt         -          -            -            -            -            -            -
Cash Flow              -          -            -            -            -            -            -
             0
             0
             0
V.
DCR Other Source
DCR Other Source
                    Ratio
Oper Exp Coverage#DIV/0!       #DIV/0!      #DIV/0!      #DIV/0!      #DIV/0!      #DIV/0!      #DIV/0!
                       -          -            -            -            -            -            -
                  291,415
First Mortgage Balance        294,342      297,299      300,286      303,303      306,350      309,427
Second Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance            -          -            -            -            -            -            -

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          -          -            -            -            -
Reserves               -          -            -            -            -
NOI                    -          -            -            -            -
            0          -             -          -          -           -
            0          -             -          -          -           -
            0     (56,689)       (56,689)   (56,689)   (56,689)    (56,689)
            0          -             -          -          -           -
D/S Other Source       -             -          -          -           -
D/S Other Source       -             -          -          -           -
DCA HOME Cash Resrv.   -             -          -          -           -
Asset Mgmt             -             -          -          -           -
DDF                  (762)          (762)      (762)      (762)       (762)
Incentive Mgmt         -             -          -          -           -
Cash Flow         (57,451)       (57,451)   (57,451)   (57,451)    (57,451)
            0
            0
            0          -                -       -          -           -
V.
DCR Other Source
DCR Other Source
                    Ratio
Oper Exp Coverage#DIV/0!         #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
                       -            -           -          -           -
                  265,100
First Mortgage Balance          210,814     155,982    100,600      44,661
Second Mortgage Balance
Other Source Balance
Other Source Balance
DDF Balance          (762)        (1,524)    (2,286)    (3,048)     (3,810)

III. Applicant Comments & Clarifications                                      IV. DCA Comments

0                                                                             0
0                                                                             0
0                                                                             0
0                                                                             0
0                                                                             0
0                                                                             0
0                                                                             0



                                                                  PART EIGHT - THRESHOLD CRITERIA - 2009-00


                      Preliminary Rating: Incomplete

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.)


1                 Project Feasibility, Viability Analysis, and Conformance with Plan

                         A.        Equity Commitment
                                                 1) Has the applicant closed an equity partnership with the proposed Equity provider within the last 24 month
                                                 2) How many tax credit deals have you closed with this equity provider within the past five years?
                         B.        Debt Commitment
                                                 1) a) Are any commitments submitted as “Under Consideration” which need final approval before July 31, 2
                                                    b) If yes, then state the applicable financial assistance/funding:
                                                 2) Has the applicant closed a loan with the proposed lender within the last 24 months?
                                                 3) How many loans have you closed with this lender within the past five years?
                  Applicant's comments regarding this section of Threshold:
We have
closed at least
5 HOME Loans
with DCA.

0
0
0
                  DCA's Comments:
0
0
0
0
0
0
0
0


2                 Tenancy Characteristics

                                   This project is designated as:
                  Applicant's comments regarding this section of Threshold:
0


3                 Required Services
                  A. Applicants certify that all selected services will meet QAP policies. Does Applicant agree?
                  B. Specify below at least 1 basic ongoing service selected from categories listed in QAP for Family projects, or at least 2 bas
                                    1) Social and recreational programs planned and overseen by project mgr
                                    2) Semi-monthly classes conducted on site
                                    3) After school or adult day care located on site
                                    4) Other service approved by DCA
    Applicant's comments regarding this section of Threshold:
0
0
    DCA's Comments:
0
0


4   Market Feasibility

                  A. Provide the name of the market study analyst used by applicant:
                  B. Project absorption period
                  C. Stabilization period
                  D. Overall capture rate for credit units
                  E. List DCA tax credit projects (inside a 2-mile radius for urban or 10-mile radius for rural) for years 2004 - 2008.
                                       Villas on Forsyth 2007-021                                               0
                                       0                                                                        0
                                       0                                                                        0
                                       0                                                                        0
                                       0                                                                        0
                                       0                                                                        0
                  F. Does the unit mix/rents and amenities included in the application match those provided in the market study?
    Applicant's comments regarding this section of Threshold:
0
0
    DCA's Comments:
0
0
0
5   Appraisals

                  A. Is there is an identity of interest between the buyer and seller of the project?
                  B. Is an appraisal included in this application submission?
                                       If an appraisal is included, indicate Appraiser's Name and answer the following questions:
                                    1) Does it include the “as is” value, "as built/as complete" (encumbered), "as built/ as complete" (unencumb
                                    2) Does the “as is” value delineate the value of the land and building?
                                    3) Does the total hard cost of the project exceed 90% of the as completed unencumbered appraised value
                  C. Has the Ownership Entity owned the property for less than three (3) years?
                  D. Has the property been:
                                    1) Rezoned?
                                    2) Subdivided?
                                    3) Modified?
    Applicant's comments regarding this section of Threshold:
0
0
    DCA's Comments:
0
0


6                Environmental Requirements

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

                                  All project
                                  locations are
                                  exposed to <
                                  65 DNL exterior
                                  noise levels,
                                  therefor no
                                  exterior or
                                  interior noise
                                  mitigation is
                                  required per
                                  HUD noise
                                  guidelines

                               E. Is the subject property located in a:
                                                 1) Brownfield?
                                                 2) 100 year flood plain / floodway?
                                                    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?
                                                    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?
                               F. Has the Environmental Professional identified any of the following on the subject property:
                                                 1) Asbestos?                                    No                  0                  3)
                                                 2) Lead-based paint?                            No                  0                  4)
                                                 7) Other (e.g., endangered species, Native American burial grounds, etc.):
                              G. Is all additional environmental documentation required for a HOME or NSP application included?
                                                 1) Eight-Step Process completed for Wetlands and/or Floodplains?
                                                 2) Has Applicant/PE completed the HOME and HUD Environmental Questionnaire?
                                                 3) Owner agrees that they must refrain from undertaking any activities that could have an adverse effect on
                               H. If HUD approval has been previously granted, has the HUD Form 4128 been included?


                 Applicant's comments regarding this section of Threshold:
See TAB 11 for
Phase I and
Phase II
There are no
wetlands or
floodplain
located on the
site.
0
0
                    DCA's Comments:
0
0
0
0


7                   Site Control
                                  A. Is site control provided through October 31, 2009?
                                  B. Form of site control:
                                  C. Name of Entity with site control:
                    Applicant's comments regarding this section of Threshold:
See TAB 12.
Powell Place
Apartments has
an option to
purchase the
property
through
December 31,
2009
                    DCA's Comments:
0
0


8                   Site Access
                                  A. Is this site legally accessible by paved roads and are drawings or photographs included showing these roads?
                                  B. If access roads are not in place, does the application contain documentation evidencing a local commitment for the fundin
                    Applicant's comments regarding this section of Threshold:
There is over
500 feet on
Trojan Way a
City Street.
0
                    DCA's Comments:
0
0
0


9                   Site Zoning
                                  A. Is Zoning in place at the time of this application submission?
                                  B. Is Zoning conformance in writing by the authorized Local Government official, and includes the zoning & land use classific
                                  C. Is documentation provided that demonstrates that the site layout conforms to any moratoriums, density, setbacks or other
                                  D. Is this information included on the Architectural Site Conceptual Development Plan?
                                  E. Are all issues and questions surrounding the zoning and land use classification clearly defined prior to this application sub
                    Applicant's comments regarding this section of Threshold:
All zoning
information is in
TAB 14.
0
                    DCA's Comments:
0
0
0


10            Operating Utilities
                            A. Check applicable utilities and enter provider name:                                     1) Gas
                                                                                                                       2) Electric
              Applicant's comments regarding this section of Threshold:
See TAB 15.
0
              DCA's Comments:
0
0
0


11            Public Water/Sanitary Sewer/Storm Sewer

                            A. Is there a Waiver Approval Letter From DCA included in this application for this criterion as it pertains to Rural projects?
                            B. Check all that are available to the site and enter                                     1) Public water
                               provider name:                                                                         2) Public sewer
                                                                                                                       3) Waiver
              Applicant's comments regarding this section of Threshold:
See TAB 15.
0


              DCA's Comments:
0
0


12            Required Amenities

              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 Ameniti
                                              1) Community area (select either community room or community building):
                                              2) Exterior gathering area:
                                              3) On site laundry type:
                            B. Applicant agrees to provide the following required Additional Site Amenities in conformance with the DCA Amenit
                               The number of amenities required depends on the total unit count: 1-50 units = 4 amenities, 51-100 units = 5 amen
                               DCA Site Amenities Selected by Applicant:
                                               Attractively
                                               fenced
                                           1) community
                                               gardens
                                                 Complete built-
                                                 in fire sprinkler
                                              2) system


                                                 Covered
                                                 pavilion w/
                                              3) picnic/barbecue
                                                 facilities
                                                 Equipped
                                              4) Computer
                                                 Center
                                                   Equipped
                                              5)
                                                   Playground
                                                6) <<Select>>


                              C. Applicant agrees to provide the following required Unit Amenities in conformance with the DCA Amenities Manua
                                                1) HVAC
                                                2) Refrigerator (Energy Star rated)
                                                3) Dishwasher (Energy Star rated)
                                                4) Stove
                                                5) Powder-based stovetop fire suppression canisters installed above the range cook top
                              D. Applicant agrees to provide the following additional required Amenities for Senior projects:
                                                1) Elevators are installed for access to all units above the ground floor.
                                                2) Buildings more than two story construction have interior gathering areas in several locations in the lobbie
                                                3) a) 100% of the units are accessible and adaptable, as defined by the Fair Housing Amendments Act
                                                   b) If No, was a waiver granted?
                Applicant's comments regarding this section of Threshold:
0
0
                DCA's Comments:
0
0
13              Physical Needs Assessment (Rehabilitation Projects Only)

                              A. Type of rehab (choose one):
                              B. Date of PNA:
                              C. Name of consultant preparing PNA:
                              D. Is 20-year replacement reserve study included?
                              E. Applicant understands that in addition to propose work scope, the project must meet state and local building codes, DCA a
                                 health and safety codes and Threshold:
                Applicant's comments regarding this section ofrequirements. Applicant agrees?
N/A
0
0


                DCA's Comments:
0
0
0


14              Site Information and Conceptual Site Development Plan

                              A. Is the Conceptual Site Development Plan included in this application and has it been prepared in accordance with instructi
                              B. Are all site related amenities required and selected in this application indicated on the Conceptual Site Development Plan?
                Applicant's comments regarding this section of Threshold:
See Site Plan
in TAB 17.
0
0


                DCA's Comments:
0
0
0


15              Building Sustainability
                                 A. Does the project meet Georgia Energy Codes?
                                 B. Do the basic design and equipment meet the requirements of the Architectural Manual, including those for Energy Star rat
                                 C. Applicant has reviewed Exhibit A to Appendix I Building Sustainability Certification and agrees to provide this Certification
                                    Architectural Submittal Manual?
                   Applicant's comments regarding this section of Threshold:
The project
meets the
Georgia Energy
Codes, and its
basic design
meets the
requirements of
the Architetural
Manual,
including
energy star
appliances.
We agree to
provide the
Building
Sustainability




Certification at
Step II when
funded.
0


                   DCA's Comments:
0
0
0
16                 Accessibility Standards
                                 A. Does this project comply with all applicable Federal and State accessibility laws including but not limited to The Fair Housi
                                    Does this project Georgia Access Law?
                                 B. Housing Law and comply with applicable DCA accessibility requirements detailed in the Accessibility Manual of the 2009 A
                                 C. Are at least 5% of the total units equipped for the mobility disabled, including wheelchair restricted residents, and at least 2
                                 D. Are at least an additional 2% of the total units equipped for hearing and sight-impaired residents?
                                 E. Applicant agrees to arrange for the inspection of the project by a DCA-qualified consultant 3 times during construction in o
                   Applicant's comments regarding this section of Threshold:
We agree to
comply all
Federal and
State
accessibility
accessibility
laws.
0
0
                   DCA's Comments:
0
0
0


17                 Architectural Design & Quality Standards
                   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 rehabilitatio
                                            1)        The expected life of the completed property must exceed by five years the greater of the Compliance Pe
                                            2)        All construction must meet the requirements set forth in the Manual
                                            3)        Rehabilitation projects will be considered for funding only if the per unit rehabilitation hard costs exceed $
                                            4)        the total hard cost of any rehabilitation project must for exceed 90% of the as-completed unrestricted ap
                                                      Theper unit rehabilitation hard costs exceed $25,000 not properties that exceed 20 years old
                                            5)        The costs of furniture, fixtures, construction of community buildings and common area amenities are not

                                 B. Standard Design Options for All Projects
                                          1)       Exterior Wall Finishes (select one)                       Exterior wall
                                            2)        Attractive Features (select two)                       faces willof
                                                                                                             Addition have
                                                                                                             decorative or
                                                                                                             Addition of
                                            3)        Major Bldg Component Materials & Upgrades              the redesign of
                                                                                                             Upgraded
                                            4)        (select one)
                                                      Landscaping and Site Design Features (select two) roofing
                                                                                                        Substantial
                                                                                                        replanting of
                                                                                                        Site entry w/
                                                                                                             permanent,
                   Applicant's comments regarding this section of Threshold:
The project
consists of only
new
construction.
The community
buildings and
common areas
are included in
the construction
hard costs.
Furniture and
fixtures for the
community
buildings are
excluded from
the




construction
contract.
0
                   DCA's Comments:
0
0
0


18                 Experience

                   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 c
                                    Please disclose any conflict of interest between the parties:
                     Allan Rappuhn
                     has controlling
                     interest in the
                     GP, Developer
                     and Co-
                     developer



                  B. Is there a Development fee sharing arrangement between the Owner, Developer or any other party?
                     If Yes, disclose details in box below:
                     0


                  C. Is there any Guarantee Agreement?
                     If Yes, disclose details in box below:
                     0


                  D. Please disclose all owner and development consultants, direct or indirect, paid or unpaid.
                     0


                  E. This Application meets Owner Experience through (select one):
                                    1) Name of Experienced Owner, Partner or Consultant:
                                    2) Was this individual or entity determined to be experienced by DCA prior to 2009 Application Submission?
                                    3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materi


                  F. This Application meets Developer Experience through (select one):
                                    1) Name of Experienced Developer, Partner or Consultant:
                                    2) Was this individual or entity determined to be experienced by DCA prior to 2009 Application Submission?
                                    3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materi


                 G. This Application meets Manager Experience through (select one):
                                   1) Name of Experienced Manager, Partner or Consultant:
                                    2) Was this individual or entity determined to be experienced by DCA prior to 2009 Application Submission?
                                    3) Will this individual or entity have a direct or indirect ownership interest in the ownership entity and materi


                  H. If the Owner or Developer is meeting DCA experience requirements through a consulting agreement with an experienced c
                                      name of the property through which the Owner or Developer meets said requirements.


                   I. Is the applicant applying to DCA under the Probationary Participation provision?


                  J. Does the Training / Developer Agreement / Partnership Agreement meet the requirement set forth in the Consultant / Part


    Applicant's comments regarding this section of Threshold:
0
0
0


    DCA's Comments:
0
0
0
0
0
19              Threshold Designation Of Tier One Capacity

                              A. Has an Entity or its principal been designated as a Tier 1 Entity by DCA for this project?
                              B. Name of Entity or principal so designated by DCA:                                            0
                Applicant's comments regarding this section of Threshold:
0
0


                DCA's Comments:
0
0


20              Compliance History Summary
                Is there a Pre-Determination Letter From DCA included in this application for this criterion?

                              A. Has the principal and entities of each General Partner, Developer, and project consultant(s) submitted a complete and cor
                              B. Are five fully executed DCA Uniform Release Forms included in the application?
                              C. Is the completed compliance questionnaire for each General Partner, Developer, and project consultant(s) included in the
                              D. Has Applicant included appropriate documentation or releases from other state housing agencies (both the MultiState Rele
                Applicant's comments regarding this section of Threshold:
See TAB 3 for
compliance
score
0
0


                DCA's Comments:
0
0
0



21              Eligibility for Credit under the Nonprofit Set-Aside

                              A. Name of Qualified Nonprofit:
                              B. Is the organization a qualified nonprofit, defined as a 501c(3) or 501c(4) organization not affiliated or controlled by a for-pro
                              C. low-income housing?
                                 Does the qualified nonprofit materially participate in the project as described in IRC Section 469(h)?
                              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
                              E. If the nonprofit is also a developer of the project, does the nonprofit receive a percentage of the developer fee greater than
                              F. Is a copy of the GP joint venture agreement that indicates the nonprofit's general partnership interest and developer fee am
                Applicant's comments regarding this section of Threshold:
0
0


                DCA's Comments:
0
0


22              Eligibility for HOME Loans under the CHDO Set-Aside*
                              A. Name of CHDO:
                              B. Is a copy of the State CHDO pre-qualification/renewal letter included in the Application?
                              C. Is the CHDO either the sole general partner of the ownership entity or the managing general partner of the ownership entit
                               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 gen
                               E. Does the CHDO (or a wholly owned or controlled affiliate) receive a percentage of the Developer Fee greater than or equa
                               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
                               G. Do all parties understand that the CHDO must exercise effective control of the partnership throughout the period of afforda
                 Applicant's comments regarding this section of Threshold:
0
0


                 DCA's Comments:
0
0


23               Additional HUD Requirements
                 Is there a Pre-Determination Letter From DCA included in this application for HOME/HUD Site and Neighborhood Standards?
                                A. The Census Tract for the property is characterized as [Choose either Minority concentration (50% or more minority), Raci
                                B. (less than 25% minority)]: Tracts:
                                   List all contiguous Census                                        B. 9901/9804/9701/9702
                               C. Is Contract Addendum included in Application?
                 Applicant's comments regarding this section of Threshold:
See TAB 18 for
additional
HOME/HUD
requirements.
The Right to
Withdraw is
located behind
the Purchase
option



                 DCA's Comments:
0
0


24               Required Legal Opinions                                                  State legal opinions included in application using boxes provided.
                               A. Credit Eligibilty for Acquisition
                               B. Credit Eligibilty for Assisted Living
                               C. Nonprofit Federal Tax Exempt Status
                               D. Accessibility Standards
                               E. Other (If Yes, then also describe):
                 Applicant's comments regarding this section of Threshold:
0
                 DCA's Comments:



25               Georgia Housing Search
                               A. Applicant agrees that if Application is selected for funding, then the Applicant will list all of its existing developments in the
                               B. Has Applicant registered all available affordable Housing Units previously funded by DCA on the Georgia Housing Search
                 Applicant's comments regarding this section of Threshold:
0


26               Relocation and Displacement of Tenants
                               A. Does the Applicant anticipate displacing or relocating any tenants?
                               B. 1) Are any of the sources other than DCA HOME considered to be Federal Funding?
                                   If Yes, applicant will need to check with the source of these funds to determine if this project will trigger the Uniform Reloc
                                   2) Will any funding source used trigger the Uniform Relocation Act or HUD 104 (d) requirements?
                                C. Are there any occupied or vacant residential or commercial buildings that will be demolished as a part of the proposed wor
                                D. Is sufficient comparable replacement housing identified in the relocation plan according to DCA relocation requirements?
                                E. Provide summary data collected from Relocation Displacement Spreadsheet:
                                   1) Number of Over Income Tenants
                                   2) Number of Rent Burdened Tenants
                                   3) Number of Vacancies
                                   4) Number of Down units
                                   5) Number of Displaced Tenants
                                F. Indicate Proposed Advisory Services to be used (see Relocation Manual for further explanation):
                                   1) Individual interviews
                                   2) Meetings
                                   3) Written Notifications
                                  4) Other - describe in box provided:                                                     4) 0
                  Applicant's comments regarding this section of Threshold:
0
0
                  DCA's Comments:
0
0
0
27                Marketing to Special Need Population
                                A. Has the marketing plan been completed according to DCA requirements and included in the application binder where indic
                                B. Name of Service Provider:                                                      B. Roosevelt Warm Springs
                  Applicant's comments regarding this section of Threshold:
See TAB 21 for
Targeting and
Marketing Plan.

0
0
                  DCA's Comments:




28                Poor Utilization of Resources
                  Applicant's comments regarding this section of Threshold:
Powell Place
Apartments will
be new
construction on
a vacant infill
property
located in the
City of
Barnesville,
which is rural.
There are no
identities of
interest of
members on
the
development
team.

0
                  DCA's Comments:
0
0
0
0
0




                                                          PART NINE - SCORING CRITERIA - 2009-005 Powell




1.                APPLICATION COMPLETENESS/ORGANIZATION                (Applicants start with 10 points. Any points ente


             A. Missing or Incomplete Documents              Number:   0               For each missing or incomplete documen
             B. Financial and Other Adjustments              Number:   0               1-3 adjustments/revisions = one (1) pt ded
             C. Organization                                 Number:   0               One (1) pt deducted if not organized in DC


Applicant's comments regarding this section of scoring:
All documents
are in place
and in order.
All financial
have been
checked.
0
DCA's Comments:                                                                     Enter "1" for each item
A. Missing / incomplete documents:                                                 Nbr         0          B. Financial adjustments/revisions requested:
1                                                                                              0          1
2                                                                                              0         2
3                                                                                              0         3
4                                                                                              0         4
5                                                                                              0         5
6                                                                                              0         6
7                                                                                              0         7
8                                                                                              0         8
9                                                                                              0         9
10                                                                                             0         10
11                                                                                             0         11
12                                                                                             0         12
2.                TIER I ENTITIES
                  Name of Tier 1 Entity for which these points are being claimed                                           0
                  Tier One entity has a 100% ownership interest in both the General Partner and the Developer entity.
                  Applicant's comments regarding this section of scoring:
0
                  DCA's Comments:
0


3.                DEEPER TARGETING / RENT AND INCOME RESTRICTIONS
                  50% Gross Rent Restrictions / 50% Income Restrictions:                                 Nbr units to have these restrictions:
                  Applicant's comments regarding this section of scoring:
15% of 64 is
9.6 unit and we
have
committed 10
units and that
will give us 3
points based on
the QAP.
0
                  DCA's Comments:
0
0


4.                QUALITY GROWTH INITIATIVES                                                             See scoring criteria for further requirements and info


             A. Desirable/Undesirable Activities Characteristics                                         (Applicants need to complete Desirable/Undesirable
                  1.               Desirable Sites (1 pt each)
                  2.               Undesirable Sites (1 pt subtracted for each - points entered here will be subtracted from the score value of 10)
                  Applicant's comments regarding this section of scoring:
There are 10
desirable and
no undesirable
activities. See
tab 22.
0
0
0
                  DCA's Comments:
0
0
0
0
0
0


             B. Infill / Smart Growth Rural Development
                  Indicate Quality Growth Initiative to be used (choose one):                             Rural Smart Growth


                  How does the site maximize the    The Site is in Barnesville Ga which is located in Lamar County. Lamar County is considered rural by DC
                  use of existing facilities and    All utlities are to the site.
                  infrastructure?
                                                    3


                  Describe Adjacent established     To the north is vacant and to the east is a park and to the south is the High School sports field and to the
                  occupied residential

                  Additional information for Infill Option:
                  Indicate Infill Type (choose one):                                                      << Select one >>
Describe Adjacent established development that is 0
on all but one side of development:

                  Applicant's comments regarding this section of scoring:
See Tab 1 for
DCA rural conty
list.
0
                  DCA's Comments:
0
0
0


             C. Community Transportation Options
                  1.               Transit Oriented Development
                  2.               Project located within ¼ mile walking distance of rapid rail transit station along paved roads, sidewalks, establish


                  Applicant's comments regarding this section of scoring:
0
0
                  DCA's Comments:
0
0


             D. Adaptive Reuse                                          (w/PNA & supporting documentation) Existing bldg formerly used as:
                  Applicant's comments regarding this section of scoring:
0
0
                  DCA's Comments:
0
0


               E. Brownfield                                         (With EPA/EPD Documentation)
                 Applicant's comments regarding this section of scoring:
0
0
                 DCA's Comments:
0
0


               F. Greyfield                                          (with supporting documentation)
                 Applicant's comments regarding this section of scoring:
0
0
                 DCA's Comments:
0
0
5.               SUSTAINABLE DEVELOPMENTS                                                                               (choose only one)


                               A. Sustainable Communities Certification                                                 (choose only one)
                               1. Earth Craft Communities program through Southface Energy Institute and the Greater Atlanta Home Builder’s Association
                               2. US Green Building Council’s Leadership in Energy and Environmental Design for Neighborhood Development (LEED-ND)


OR                             B. Sustainable Building Certification                                                    (choose only one)
                               1. Earth Craft House multifamily program through Southface Energy Institute and the Greater Atlanta Home Builder’s Associ
                               2. Enterprise Foundation’s Green Communities certification program
                               3. US Green Building Council’s LEED for Homes certification program


OR                             C. Energy Efficient Building Certification                              (EPA’s Energy Star program certification)
                 Applicant's comments regarding this section of scoring:
See scoring
sheet from
Southface in
TAB 29.
0
                 DCA's Comments:
0
0


6.               STABLE COMMUNITIES / REDEVELOPMENT / REVITALIZATION

               A. Economic Growth and Need                                                                              (choose only one)
                               1. Economic Growth and Need                                                              Indicate Area:
OR                             2. Stable Communitiies
                                  Project is located in a census tract that meets the following demographics according to the most recent FFIEC Census Re
                               a) Less than 10% below Poverty level (see Income)
                               b) Designated Middle or Upper Income level (see Demographics)
                               c) Less than 15% of housings units are rental occupied (see Housing)
                               d) Tracts not designated as distressed or underserved (see Demographics)
                                 e) Market study must demonstrate need for affordable housing
                 Applicant's comments regarding this section of scoring:
Lamar County
is listed as a
Economic
Growth and
Need area.
0
                 DCA's Comments:
0
0


             B. Community Redevelop/Revitalization Plans and Strategies                                                      (choose only one)
                                  1. HOPE VI Initiatives
                 The Initiative will:
                                 a) Provide affordable units for an extended period of 30 years or more;
                                 b) Be part of a mixed income phased community with a significant market component
                                  c) Facilitate the deconcentration of poverty
                                 d) Provide for community improvements or amenities
OR                                2. Promotes Neighborhood Stabilization
                 Applicant's comments regarding this section of scoring:
0
0
                 DCA's Comments:




             C. Redevelopment Incentive Programs                                          (choose only one)
                                  1. Statutory Redevelopment Plans                              OR
      OR                          2. Redevelopment Zones                                        OR                           Type:
      OR                          3. Local Redevelopment Plan                                                                Name of Plan:
                 Indicate whether the Community Redevelop/Revitalization Plan includes the following and include the page number from the plan:
                                 a) A discussion of potential sources of funding for the plan
                                 b) A clearly delineated target area that includes the proposed project site
                                  c) Detailed policy goals (one of which must be housing)
                                 d) Implementation measures and specific time frames for the achievement of such policies and housing activities
                                 e) Proposed development supports at least one of the goals of the redevelopment or revitalization plan
                                  f) An assessment of the existing physical structures and infrastructure of the community
                 Indicate whether the Community Redevelop/Revitalization Plan is:
                                 a) formulated by the Owner of the project and submitted to a local government for approval
                                 b) a short-term work plan
                                  c) a comprehensive plan, consolidated plan, municipal zoning plan or land use plan
                                 d) outdated and does not reflect the current neighborhood conditions
                 Applicant's comments regarding this section of scoring:
0
0
0
                 DCA's Comments:
0
0
0
7.                  PHASED DEVELOPMENTS / PREVIOUS PROJECTS                                                                         (choose only one)


                           A.        Phased Developments
                                     Proposed project is part of Phased Development in which one or more phases received an allocation of 9% tax credits & a
OR                         B.        Previous Projects
                                  1. Proposed development site is w/in boundaries of Local Govt where a 9% Credit, 4% Credit and/or HOME project has not b
               or                 2. Proposed development site is w/in boundaries of Local Govt where a 9% Credit, 4% Credit and/or HOME project has not b
                    Applicant's comments regarding this section of scoring:
0
0
                    DCA's Comments:
0
0


8.                  WAIVER OF QUALIFIED CONTRACT RIGHT / TENANT OWNERSHIP PLAN
                           A.        Waiver of Qualified Contract Right
                                     Applicant agrees to forego the cancellation option for at least 5 years after the close of the Compliance period?
                           B.        Tenant Ownership
                    Applicant's comments regarding this section of scoring:
We agree to
forgo the
cancellation
option for at
least five years
after the close
of the
Compliance
Period as
stated in the
QAP.


0


                    DCA's Comments:
0
0


9.                  HISTORIC DESIGNATION
                           A.        Bldgs on project site are listed individually in National Register of Historic Places & will be preserved
             OR            B.        Buildings on the project site are potentially eligible to be listed because they are located in a:
                                  1. "Registered historic district"
              or                  2. Potentially eligible district that contributes to the significance of the district and will be preserved
                    Applicant's comments regarding this section of scoring:
0
0


                    DCA's Comments:
0
0
10.              NONPROFIT
              A. GP is comprised of 100% nonprofit organizations and the project is applying for and is eligible for the nonprofit set-
              B. For-profit entity partnering with a nonprofit that is applying for (and is eligible) under the Plan’s Credits nonprofit se
                 Applicant's comments regarding this section of scoring:
0
0
                 DCA's Comments:
0
0


11.              RURAL
                 Applicant's comments regarding this section of scoring:
0


12.              LOCAL GOVERNMENT SUPPORT

              A. Resolution of Support
                 The resolution clearly indicates that the Local Government understands the nature of the proposed project by identifying, at a minimum:
                               a) Type of project
                               b) Number of anticipated units
                               c) Specific project location
                               d) The resolution clearly expresses the Local Government’s support of the proposed project, as opposed to merely expressin


              B. DCA Community Initiatives
                                  Letter from a designated               DCA Signature Community                          that clearly:
                               a) identifies the project as located within their political jurisdiction   < Select applicable GICH >
                               b) is indicative of the community’s affordable housing goals
                               c) identifies that the project meets one of the objectives of the formal Program Plan
                               d) is excuted by the official representative of the Community


                 Applicant's comments regarding this section of scoring:
See TAB 36.
Powell Place
meets the
affordable
housing goals
set out in the
Barnesville
Signature
Community Plan


                 DCA's Comments:
0
0


13.              LEVERAGING OF RESOURCES

              A. Grants/Loans
                               1. Community Development Block Grant (CDBG) program funds ($500,000 minimum)
                               2. Federal Home Loan Bank Affordable Housing Program (AHP) ($500,000 minimum)
                                  3. NSP allocated from a direct HUD allocation to an Entitlement Area (Minimum $1,000,000)


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


              C. Off Site Improvement, Amenity and Facility Investment
                                  1. Name of Unrelated Third Party      0
                                  2. Description of Improvement(s)      0
                                  3. Full Cost of Improvement           0


                   Applicant's comments regarding this section of scoring:
See HOME
Loan Conset in
TAB 5.
0
                   DCA's Comments:
0
0


14.                DCA OPTIONAL POINTS FOR SUPERIOR PROJECT CONCEPT
                   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:
We believe that
this project has
to total support
and backing by
the City of
Barnesville.
We have just
completed an
elderly project
in Barnesville
and the City
was so
impressed that
they would help
us with their
support for
another
project.See
TAB 38.




0
                   DCA's Comments:
0
0


15.                COMPLIANCE HISTORY STATUS

                   Is there a Pre-Determination Letter From DCA included in this application for this criterion?
                A.               Owner/Developer


                B.               Manager (Pass or Fail)


                Applicant's comments regarding this section of scoring:
See Tab 3 for
score sheets.
0
0
                DCA's Comments:
0
0
0
0


                                                                          TOTAL POSSIBLE SCO
 2009-005 Powell Place Apartments, Barnesville, Lamar County

d do not contain references/formulas.                                                                 DCA Use Only - Project Nbr:
nd do contain references/formulas that can be overwritten.                                                     2009-005

                              $                   801,948                  DCA 2009 Pre-app Nbr, if      PA09-29
                              $                 1,000,000                  pre-app was submitted:

                      Other: 0



                                                                           Title                        President
                                                                           Direct Line                  ##########
                                                                           Fax                          ##########
                  Zip+4        35630-0000                                  Cellular                     ##########
                   Ext.            0                                           E-mail                   arappuhn@gatewaymgt.com




                                                                           Phased Project?              No
                                                                           Scattered Site?              No
              , Georgia           Zip+4       30204-0000                   Acreage                      8
                                  County     Lamar                         Census Tract #               9703
HUD MSA/NonMSA name                          Lamar Co.                     QCT?           No                   DDA? No

                             State House
                             125
                             0


                                                  Title      Mayor
                                                  City       Barnesville
               ##########                                        Fax       ##########




               # of PBRA                   D. Unit Area
                  Units                       Total Low Income Residential Square Footage                               63,115
                    0
                    0
                    0                        Total NSP 120% Residential Square Footage                                    0
                                              Total Unrestricted Residential Square Footage                                0
                                              Total Residential Square Footage                                           63,115
                                              Total Common Space Square Footage from Units                                965
                                              Total Square Footage from Units                                            64,080

                                              Non-Residential SF from Units (Common Space)                                965
                                              Non-Residential SF NOT from Units                                            0
                                              Total Non-Residential Square Footage                                        965




Family                                        If Other, specify:                          0

                                              % of Total Units                                                           6.3%

                                              % of Total Units                                                           3.1%



 0% of Units at 60% of AMI

                                               20% of HOME-Assisted Units at 50% of AMI                                   Yes

                                               40% of Residential Units at 50% of AMI                                     No




              Nonprofit                            Yes       Rural                               0          CHDO
              Preservation                          0        Special Needs

              Supplemental



                                                                              Inducement Date:              ##########
                                                                              Applicable QAP:               0
                    0            Zip+4         00000-0000
                    0                                                            E-mail                              0
                           -                   Direct line                -                   Cellular               -



 s and Consultants (Entity and Principal) :



                                              Are you claiming Tier 1 Entity points for this application?                 No

) and each of its principals has a direct or indirect Ownership interest:
                             Project Participant                           Name of Project
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0




                             Project Participant                           Name of Project
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0
                             0                                             0




                                              First Building ID Nbr in Project               GA-
                                              Last Building ID Nbr in Project                GA-




                             HUD funded affordable public housing project                          0




                                                   No
                                                    0       % of Total Residential Units               0%
olds on Waiting List:                               0       % of Total Residential Units               0%
                                                            Contact      0
                                                            Email        0
                 Zip+4           00000-0000                 Direct line                -
                         -                                  Cellular                   -
                    No          If yes, expiration year:       0          Nbr yrs to forgo cancellation option:            0

                    No

                   No
                    0
                    0
                 #DIV/0!

ls been approved by DCA?
                No     ---------------------------> If Yes, new Limit is:                                         $0.00
                No     ---------------------------> If Yes, new Limit is:                                         $0.00
                No                                        Other Tenancy?                                                  No
                No                                        Probationary Experience Participation?                          No
                Yes                                       Service Requirement (for small rural projects)                  No
                Yes                                       State-Designated 30% Basis Boost?                               Yes
                No                                        20% Developer Fee?                                              No
                No                                        3rd Party Investment in Off-Site Amenities?                     No
                No                                        Special Needs?                                                  No


              January 0, 1900
              January 0, 1900
              May 15, 2011

                                            XV.            DCA COMMENTS - DCA USE ONLY
                                            0
                                            0
                                            0
                                            0



ELOPMENT TEAM INFORMATION - 2009-005 Powell Place Apartments, , County




Powell Place Apartments, LP                                                                         Name of Principal
 20 Florence Blvd.                                                                                  Title of Principal
                                             Fed Tax ID: Applied for                                Direct line
                  Zip+4       35630-0000                 ENTER THE 4_DIGIT EXTENSION!!!!!           Cellular
                                  0             Fax      ##########                                 E-mail
 arentheses, etc - ex: 1234567890)




Gateway Powell Place, LLC                                                                           Name of Principal
 20 Florence Blvd.                                                                                  Title of Principal
                                                                                                    Direct line
                  Zip+4       35630-0000                                                            Cellular
                                  0               Fax      ##########                               E-mail
                                                           Name of Principal
                                                           Title of Principal
                                                           Direct line
                Zip+4      00000-0000                      Cellular
                               0        Fax   -            E-mail

                                                           Name of Principal
                                                           Title of Principal
                                                           Direct line
                Zip+4      00000-0000                      Cellular
                               0        Fax   -            E-mail



                                                           Name of Principal
                                                           Title of Principal
                                                           Direct line
                Zip+4      00000-0000                      Cellular
                               0        Fax   -            E-mail

                                                           Name of Principal
                                                           Title of Principal
                                                           Direct line
                Zip+4      00000-0000                      Cellular
                               0        Fax   -            E-mail



                                                           Name of Principal
                                                           Title of Principal
                                                           Direct line
                Zip+4      00000-0000                      Cellular
                               0        Fax   -            E-mail


Gateway Construction Corporation                           Name of Principal
 20 Florence Blvd.                                         Title of Principal
                                                           Direct line
                Zip+4      35630-0000                      Cellular
                               0        Fax   ##########   E-mail

Gateway Properties, LLC                                    Name of Principal
 20 Florence Blvd.                                         Title of Principal
                                                           Direct line
                Zip+4      35630-0000                      Cellular
                               0        Fax   ##########   E-mail

                                                           Name of Principal
                                                           Title of Principal
                                                           Direct line
                Zip+4      00000-0000                      Cellular
                               0        Fax   -            E-mail
                                                                                                    Name of Principal
                                                                                                    Title of Principal
                                                                                                    Direct line
                  Zip+4       00000-0000                                                            Cellular
                                  0             Fax      -                                          E-mail



                                                                                                    Name of Principal
                                                                                                    Title of Principal
                                                                                                    Direct line
                  Zip+4       00000-0000                                                            Cellular
                                  0             Fax      -                                          E-mail

Park Lane Construction LLC                                                                          Name of Principal
 09 Village Street                                                                                  Title of Principal
                                                                                                    Direct line
                  Zip+4       35242-0000                                                            Cellular
                                  0             Fax      ##########                                 E-mail

Hall Housing Investments Inc.                                                                       Name of Principal
P.O. Box 6657                                                                                       Title of Principal
                                                                                                    Direct line
                  Zip+4      36302-6657                                                             Cellular
                                  0             Fax      ##########                                 E-mail

Coleman, Talley, Newburn, Kurrie, Rreston & Holland                                                 Name of Principal
 10 N. Patterson Street                                                                             Title of Principal
                                                                                                    Direct line
                  Zip+4       31603-4531                                                            Cellular
                                  0             Fax      ##########                                 E-mail


Donald Causey                                                                                       Name of Principal
 16 Walnut Street                                                                                   Title of Principal
                                                                                                    Direct line
                  Zip+4       35902-4232                                                            Cellular
                                  0             Fax      ##########                                 E-mail

McKean & Associates                                                                                 Name of Principal
 815-B Zelda Road                                                                                   Title of Principal
                                                                                                    Direct line
                  Zip+4       03606-2727                                                            Cellular
                                  0             Fax      ##########                                 E-mail

ach participant listed below.)

erson, principal, or agent   3. Does this entity have an 4. Does this entity have         5. Has this entity ever
                             identity of interest with any an identity of interest with     been debarred or              6. Applicable
ever been convicted of a
                              other entity in this chart?   any member, officer, or     suspended from any local,   Organizational Type (For
or No)?. If yes, attach
                                    If yes, attach         employee of DCA? If yes, state, or federal housing       Profit, Nonprofit, CHDO)
 xplanation.
                                     explanation.            attach explanation.         program? If yes, attach
erson, principal, or agent   3. Does this entity have an      4. Does this entity have        5. Has this entity ever
                             identity of interest with any   an identity of interest with        been debarred or               6. Applicable
ever been convicted of a
                              other entity in this chart?     any member, officer, or       suspended from any local,     Organizational Type (For
or No)?. If yes, attach
                                    If yes, attach           employee of DCA? If yes,        state, or federal housing    Profit, Nonprofit, CHDO)
 xplanation.
                                     explanation.               attach explanation.          program? If yes, attach
                             Yes                             No                             No                           For Profit
                                           0                             0                               0                            0
                                           0                             0                               0                            0
                                           0                             0                               0                            0
                                           0                             0                               0                            0
                                           0                             0                               0                            0
                             Yes                             No                             No                           For Profit
                             Yes                             No                             No                           For Profit
                                           0                             0                               0                            0
                                           0                             0                               0                            0
                                           0                             0                               0                            0
                             No                              No                             No                           For Profit
                             No                              No                             No                           For Profit

                                                                                            VI.           DCA COMMENTS - DCA USE ONLY

                                                                                            0




                                                                                            0
                                                                                            0
                                                                                            0
                                                                                            0



NDS - 2009-005 Powell Place Apartments, Barnesville, Lamar County



              Tax Exempt Bonds                                    No          HOPE VI                           No       FHLB/AHP*
              Taxable Bonds                                                                                     No       Historic Rehab Credits
              DCA NSP* - if yes, amount:                                  0                                     No       FHA Insured Mortgage
              Other NSP* - if yes, amount:                                0                                     No       Other - describe here
ith source. For DCA HOME, refer to Relocation Manual. NSP = Neighborhood Stabilization Program



                             Amount                                                         Effective Interest Rate      Term (In Months)
                               5,744,814                                                          7.000%                           14
                               1,000,000                                                          0.000%                           14
                                     -                                                            0.000%                            0
                                     -
                                     -
                                     -
                                 741,669
                                 246,311
                             -
                             -
                             -
                       7,732,794
                       7,732,794
                               0

                                                         Annual Debt
                       Effective      Term     Amort.    Service in
Principal Amount       Int Rate      (Years)   (Years)                          Loan Type
                       0.000%           0         0                             Amortizing
                       1.000%          20        20          56,689             DCA HOME IPS
                       0.000%           0         0                                        0
                       0.000%           0         0                                        0
                       0.000%           0         0                                        0
                       0.000%           1         1             762             Cash Flow

                    % of TDC
                    8909646%                             Proposed
                    3182016%                             DCA HOME
                   12091662%                                 Year:       1 -7         8            9
                                                             Rate:     1.000%     1.000%       1.000%
                                                              11         12          13           14
                                                            1.000%     1.000%     1.000%       1.000%
                                                               16         17         18           19
                                                            1.000%     1.000%     1.000%       1.000%
                                                               21         22         23           24
                                                            0.000%     0.000%     0.000%       0.000%
                                                               26         27         28           29
                                                            0.000%     0.000%     0.000%       0.000%




                   IV.             DCA COMMENTS - DCA USE ONLY

                   0
                   0
                   0
                   0
                   0
s, Barnesville, Lamar County



                                    Min
                                  Required
                                 HOME Units
                                     8




Formula: HOME Percent of Total Units = # Home Units / # Total Units)
 ME loan is $2,500,000 for Rural and $2,000,000 for Urban


Application Deadline, this amount must match
on the DCA HOME Loan Consent Approval

nvestment Proportion of Total Eligible Cost =
est (Investment) / Total HOME Eligible Costs)




OUR - USES OF FUNDS - 2009-005 Powell Place Apartments, , County

TIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS


                  New Construction Basis                    Acquisition Basis                 Rehabilitation Basis


                                                                         PRE-DEVELOPMENT COSTS
                                        10,000                              -                                   -
                                         5,000                              -                                   -
                                         8,250                              -                                   -
                                         5,000                              -                                   -
                                           -                                -                                   -
                                           250                              -                                   -
                                           -                                -                                   -
                                           -                                -                                   -
                                           -                                -                                   -
                                        28,500                              -                                   -

                                                                                ACQUISITION


                                                                            -
                                                                            -
                                                                            -

                                                                            SITE IMPROVEMENTS
                                      320,000                               -                                   -

                                      320,000                               -                                   -

                                                                      UNIT/BUILDING CONSTRUCTION*
             4,640,000                   -                                -
                   -                     -                                -
                   -                     -                                -
                   -                     -                                -
               282,720                   -                                -
             4,922,720                   -                                -

                                       CONTRACTOR SERVICES
                99,200                  -                                 -
               297,600                  -                                 -
               297,600                  -                                 -


               694,400                   -                                -




New Construction Basis   Acquisition Basis              Rehabilitation Basis



                                  CONSTRUCTION PERIOD FINANCING
                57,448                 -                                  -
               321,710                 -                                  -
                15,000                 -                                  -
                15,000                 -                                  -
                21,000                 -                                  -
                   -                   -                                  -
                   -                   -                                  -
               430,158                 -                                  -

                                      PROFESSIONAL SERVICES
                76,800                  -                                 -
                38,400                  -                                 -
                35,000                  -                                 -
                40,000                  -                                 -
                 7,500                  -                                 -
                   -                    -                                 -
               197,700                  -                                 -

                                      LOCAL GOVERNMENT FEES
                80,000                  -                                 -
                   -                    -                                 -
                96,000                  -                                 -
                96,000                  -                                 -
               272,000                  -                                 -

                                     PERMANENT FINANCING FEES


                21,546                   -                                -
                15,000                   -                                -
                    -                       -                                     -
                    -                       -                                     -
                    -                       -                                     -
                 36,546                     -                                     -



 New Construction Basis     Acquisition Basis                   Rehabilitation Basis



                                            DCA-RELATED COSTS




                                                 EQUITY COSTS




                                                DEVELOPER'S FEE
                543,816                     -                                     -
                    -                       -                                     -
                543,816                     -                                     -
              1,087,632                     -                                     -

                                         START-UP AND RESERVES




                 40,000                     -                                     -
                    -                       -                                     -
                 40,000                     -                                     -

                                                 OTHER COSTS
                     -                      -                                     -
                     -                      -                                     -
                     -                      -                                     -
                     -                      -                                     -

              8,029,656                     -                                     -

TDC Breakdown:            Per Unit                                          134,664.20
                                                                 Per Square Foot                                           134.50


                    New Construction Basis                         4% Acquisition Basis                  Rehabilitation Basis


                                                 -                                                                            -
                                                 -                                                                            -
                                                 -                                                                            -
                                                 -                                                                            -
                                                 -                                                                            -
                                                 -                                                                            -
                                  0                                                                                0


                             8,029,656                                      0                                      0
                                 0                                                                                 0
                             8,029,656                                      0                                      0
                              130.00%                                                                            0.00%
                            10,438,553                                       0                                     0
                              100.00%                                     100.00%                               100.00%
                            10,438,553                                       0                                     0
                               9.00%                                       0.00%                                 0.00%
                              939,470                                        0                                     0
                                                                          939,470



                                                                       Maximum TDC:
                                       8,618,509                            0
                                            0
                                       8,618,509
                                           / 10
                                        861,851                                       Federal                                      State
                                         0.9500                       =               0.7000                +                     0.2500
                                        907,211

                                            0                                                   Lower credit amount, if requested:


                                      VI.              DCA COMMENTS - DCA USE ONLY
                                    0
r Green Building techniques as estimated by our contractor.
                                    0
                                    0
                                    0
                                    0




Powell Place Apartments, , County

                 DCA - Middle Region
               June 1, 2009                    Structure   MF

                      Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
                      0            1             2            3           4
                      0            7             8           12           0
                      0           29            37           45           0
                      0            8            11           13           0
                      0           25            33           40           0
                      0           24            30           37           0
                      0           42            52           65           0
                      0            0             0            0           0
                      0          135           171          212           0

               0
               January 0, 1900                 Structure   0

                      Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
                      0           1             2            3            4
                      0           0             0            0            0
                      0           0             0            0            0
                      0           0             0            0            0
                      0           0             0            0            0
                      0           0             0            0            0
                      0           0             0            0            0
                      0           0             0            0            0
                      0           0             0            0            0

fy the DCA definition of "elderly"




& EXPENSES - 2009-005 Powell Place Apartments, , County

 Rent Type of "N/A-CS" to Common Space units. Do NOT include PHA operating subsidy in PBRA Source.

HOME projects must indicate "Yes" in the "HOME Unit" column in the chart below to designate HOME units.


                 Proposed            Utility    PBRA             Monthly Net Rent          Employee      Building       Type of
                Gross Rent       Allowance     Provider        Per Unit      Total           Unit         Type          Activity
                     445              135         0                  310             620     No                    N
                                                                                                      2-Story Walkup ew Construction
                     531              171         0                  360             360     No                    N
                                                                                                      2-Story Walkup ew Construction
                     677              212         0                  465             465     No                    N
                                                                                                      2-Story Walkup ew Construction
                     465              135         0                  330             660     No                    N
                                                                                                      2-Story Walkup ew Construction
571           171            0             400       800         No                      N
                                                                            2-Story Walkup ew Construction
697           212            0             485     1,455         No                      N
                                                                            2-Story Walkup ew Construction
445           135            0             310       310         No                      N
                                                                            2-Story Walkup ew Construction
531           171            0             360       720         No                      N
                                                                            2-Story Walkup ew Construction
677           212            0             465       930         No                      N
                                                                            2-Story Walkup ew Construction
465           135            0             330       990         No                      N
                                                                            2-Story Walkup ew Construction
571           171            0             400    10,400         No                      N
                                                                            2-Story Walkup ew Construction
712           212            0             500     9,000         No                      N
                                                                            2-Story Walkup ew Construction
 0             0             0             -         -         Common                    N
                                                                            2-Story Walkup ew Construction
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
 0             0             0             -         -            0                0            0
                                 MONTHLY TOTAL    26,710
                                  ANNUAL TOTAL   320,520
                                                                                                ERROR
                                                                                             Between Rent
  1BR           2BR              3BR      4BR     Total                                       Schedule &
          4             28           20    -            52 (Include manager units that are        0
          4              3            4    -            11 income restricted)                     0
          8             31           24    -            63                                        0
      -             -            -         -        -                                             0
      -             -            -         -        -                                             0
          8             31           24    -            63                                        0
      -                  1       -         -             1 (no rent to be charged)                0
          8             32           24    -            64                                        0


          1             2            2     -             5                                        0
          2             1            1     -             4                                        0
          3              3               3          -                   9                 0

      -              -               -              -               -                     0
      -              -               -              -               -                     0
      -              -               -              -               -                    146

      -              -               -              -               -                     0
      -              -               -              -               -                     0
      -              -               -              -               -                     0


          8              31              24         -                   63                0
      -              -               -              -               -
      -              -               -              -               -                     0
          8              32              24         -                   64                0
      -              -               -              -               -                     0
      -              -               -              -               -
      -              -               -              -               -                     0
      -              -               -              -               -                     0
      -              -               -              -               -                     0
      -              -               -              -               -
      -              -               -              -               -                     0
      -              -               -              -               -                     0
      -              -               -              -               -                     0
      -              -               -              -               -                     0


          8              32              24         -                   64               64
      -              -               -              -               -                     0
      -              -               -              -               -                     0
      -              -               -              -               -                    64
      -              -               -              -               -                     0




   3,400         27,020         22,000              -          52,420                     0
   3,400          2,895          4,400              -          10,695                     0
   6,800         29,915         26,400              -          63,115                     0
     -              -              -                -             -                       0
     -              -              -                -             -                       0
   6,800         29,915         26,400              -          63,115                     0
     -              965            -                -             965                     0
   6,800         30,880         26,400              -          64,080                     0



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



  3              4               5              6               7                8   9   10
  0              0               0              0               0                0   0    0
       0                  0           0            0            0                   0                 0              0
           -                  -            -            -            -                  -                 -               -

               0                  0            0            0            0                  0                 0               0
       0                  0           0            0            0                   0                 0              0
       0                  0           0            0            0                   0                 0              0
           -                  -            -            -            -                  -                 -               -


      13                 14           15           16           17                 18                19              20
       0                  0            0            0            0                  0                 0               0
       0                  0            0            0            0                  0                 0               0
           -                  -            -            -            -                  -                 -               -

               0                  0            0            0            0                  0                 0               0
       0                  0           0            0            0                   0                 0              0
       0                  0           0            0            0                   0                 0              0
           -                  -            -            -            -                  -                 -               -


      23                 24           25           26           27                 28                29              30
       0                  0            0            0            0                  0                 0               0
       0                  0            0            0            0                  0                 0               0
           -                  -            -            -            -                  -                 -               -

               0                  0            0            0            0                  0                 0               0
       0                  0           0            0            0                   0                 0              0
       0                  0           0            0            0                   0                 0              0
           -                  -            -            -            -                  -                 -               -


On-Site Security                                                             Taxes and Insurance
Contracted Guard                                            0                Real Estate Taxes (Gross)*              64,000
Electronic Alarm System                                     0                Insurance**                             21,504
                  Subtotal                                  0                Other (describe here)                        0
                                                                                 Subtotal                            85,504


Professional Services                                                        Management Fee:                         27,364
Legal                                              1,000                         #DIV/0!        per unit per year
Accounting                                         6,000                         #DIV/0!        per unit per month
Advertising                                        3,000
Other (describe here)                                  0                     (Management Fee is from Pro Forma,
                        Subtotal                   10,000                    Section 1, Operating Assumptions)




Utilities                                                                    TOTAL OPERATING EXPENSES
Electricity                                         3,200                      #DIV/0! per unit     224,023
Natural Gas                                             0
Water & Sewer                                      12,000
               Trash Collection                                         8,000      Replacement Reserve               15,360
               Other (describe here)                                        0      Enter desired per unit amount:       240
                                       Subtotal                         23,200

                                                                                   TOTAL ANNUAL EXPENSES
                                                                                                                    239,383
                                                  VI.               DCA COMMENTS
                                                  0




                                                  0




                                                  0




                                                  0




                                                  0




e Apartments, , County

your use and contain references/formulas that can be overwritten.


   Yr 1 Asset Mgt Fee Percentage of EGI:
   Yr 1 Incent Mgt Fee Percentage of EGI:
   Yr 1 Prop Mgt Fee Percentage of EGI:
--> If Yes, indicate Yr 1 Mgt Fee Amt:                    27,364
--> If Yes, indicate actual percentage:                  0.000%



                           8                  9               10
                    368,177            375,540          383,051
                        -                  -                -
                        -                  -                -
                        -                  -                -
                        -                  -                -
                        -                  -                -
                        -                  -                -
                        -                  -                -
                    368,177            375,540          383,051
                        -                  -                -
    -          -          -
(47,688)   (46,082)   (44,367)
    -          -          -
    -          -          -
    -          -          -
    -          -          -
 (2,500)    (2,500)    (2,500)
    -          -          -
    -          -          -
317,989    326,958    336,184


   7.72       8.15       8.63



 #DIV/0!    #DIV/0!    #DIV/0!
    -          -          -
647,520    607,731    569,265



    -          -          -

      18         19         20
    -          -          -
    -          -          -
    -          -          -
    -          -          -
    -          -          -
    -          -          -
    -          -          -
    -          -          -
    -          -          -
    -          -          -
    -          -          -
(26,150)   (23,233)   (20,154)
    -          -          -
    -          -          -
    -          -          -
    -          -          -
 (2,500)    (2,500)    (2,500)
    -          -          -
    -          -          -
(28,650)   (25,733)   (22,654)


    -          -          -



 #DIV/0!    #DIV/0!    #DIV/0!
    -            -            -
325,759      305,692      288,516



    -            -            -

        28           29           30
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -
    -            -            -




 #DIV/0!      #DIV/0!      #DIV/0!
    -            -            -
312,536      315,675      318,847



    -            -            -
OLD CRITERIA - 2009-005 Powell Place Apartments, , County

                                                            Applicant Response
                                                            Pass?


                                                               A.
 provider within the last 24 months?                           1)   No
hin the past five years?                                       2)    0
                                                               B.
ed final approval before July 31, 2009?                       1a)   No
                                          << Select >>        1b)    0
                                                               2)   Yes
                                                               3)    5




                                                            Pass?


                              Family                                Yes
                                          DCA's Comments:
                                          0


                                                            Pass?
e?                                                                                                                          Agree
Family projects, or at least 2 basic ongoing services selected from categories listed in QAP for Senior projects:
                                                                                                                       1)   Yes
                                                                                                                       2)    No
                                                                                                                       3)    No
                                                                   4) 0




                                                                                                                    Pass?


                                                                                    A. Jerry Koontz
                                                                                    B. 12 months
                                                                                    C. 12 months
                                                                                    D. 11.3
r years 2004 - 2008.                                                                                                   E.   Yes
                                                                      0
                                                                      0
                                                                      0
                                                                      0
                                                                      0
                                                                      0
 the market study?                                                                                                     F.   Yes




                                                                                                                    Pass?


                                                                                                                       A.    No
                                                                                                                       B.    No
llowing questions:                                                                    0
                                                                      Appraiser's Name:
as built/ as complete" (unencumbered) values of the proposed subject property and tax credit value?                    1)     0
                                                                                                                       2)     0
unencumbered appraised value of the property?                                                                          3)     0
                                                                                                                       C.   Yes


                                                                                                                       1)    No
                                                                                                                       2)    No
                                                                                                                       3)    No
                                                                                                       Pass?


                                                                                                                 No
                                                            A. Geotechnical and Envorinmental Consultants
dance with ASTM 1527-05?                                                                                    B.   Yes
                                                                                                            C.   Yes
                                                                                                            D.   Yes
                                                                                                                 51.5




                                                                                                            1)   No
                                                                                                            2)   No
                                                                                                                  0
                                                                                                                  0
                                                                                                                  0
                                                                                                            3)   No
                                                                                                                  0
                                                                                                                  0
                                                                                                                  0
                                                                                                            4)   No


               PCB's?                  No               0   5) Lead in water?      No              0
               Mold?                   No               0   6) Radon?              No              0
                                na                                                                               No
                                                                                                            G.   Yes
                                                                                                            1)   No
                                                                                                            2)   Yes
could have an adverse effect on the subject property?                                                       3)   Yes
                                                                                                            H.   N/A
                                                                                                               Pass?
                                                                                                                  A.       Yes
                                                                                          B. Contract/Option           0
                                                  C. Powell Place Apartments, LP                                           Yes




                                                                                                               Pass?
howing these roads?                                                                                               A.       Yes
a local commitment for the funding and the timetable for completion of such paved road?                           B.        0




                                                                                                               Pass?
                                                                                                                  A.       Yes
es the zoning & land use classifications?                                                                         B.       Yes
riums, density, setbacks or other requirements?                                                                   C.       Yes
                                                                                                                  D.       Yes
efined prior to this application submission?                                                                      E.       Yes
                                                                                                                      Pass?
                          0         NA                                                                                   1)    No
                          0         Georgia Power                                                                        2)   Yes




                                                                                                                      Pass?


as it pertains to Rural projects?                                                                                        A.    No
                           0        City of Barnesville                                                                  1)   Yes
                          0         City of Barnesville                                                                  2)   Yes
                          0         <<Enter Provider Name Here>>                                                         3)    No




                                                                                                                      Pass?


                                                                                                                               No
ormance with the DCA Amenities Manual (select one in each category):                                                     A.   Agree
                                                                                                 1) Building                  Agree
                                                                                                 2) Covered Porch             Agree
                                                                                 3) On-site laundry                           Agree
formance with the DCA Amenities Manual.                                                               Nbr Amenities      B.   Agree
menities, 51-100 units = 5 amenities; 100+ units = 6 amenities.                                            5                   Additional Amenities
                   DCA Verified? Additional Amenities (describe in space provided below)                                      Pre-approved by DCA?


                          0         0                                                                                           0




                          0         0                                                                                           0




                          0         0                                                                                           0



                          0         0                                                                                           0


                          0         0                                                                                           0
                         0         0                                                                                                   0


with the DCA Amenities Manual:                                                                                              C.       Agree
                                                                                                                            1)       Yes
                                                                                                                            2)       Yes
                                                                                                                            3)       Yes
                                                                                                                            4)       Yes
                                                                                                                            5)       Yes
                                                                                                                            D.         0
                                                                                                                            1)         0
 in several locations in the lobbies and/or corridors                                                                       2)         0
air Housing Amendments Act                                                                                                 3a)         0
                                                                                                                           3b)         0




                                                                                                                         Pass?


                                                                                                      A. <<Select>>              0
                                                                                                      B. #############           #############
                                                                                                      C. 0                       0
                                                                                                                            D.         0
e and local building codes, DCA architectural requirements as set forth in the QAP and Manuals, and                         E.         0




                                                                                                                         Pass?


pared in accordance with instructions set forth in the Manual?                                                              A.       Yes
nceptual Site Development Plan?                                                                                             B.       Yes




                                                                                                                         Pass?
                                                                                                                         A.   Yes
cluding those for Energy Star rated appliances?                                                                          B.   Yes
rees to provide this Certification if funded with Step II Architectural Submittal documents in accordance with the       C.   Yes




                                                                                                                      Pass?
but not limited to The Fair Housing Act, Section 504, American with Disabilities Act, Georgia Fair                       A.   Yes
ccessibility Manual of the 2009 Application Manual?                                                                      B.   Yes
estricted residents, and at least 2% of the total units (to be part of this 5%) are equipped with roll-in showers?       C.   Yes
                                                                                                                         D.   Yes
t 3 times during construction in order to certify the project's as-built compliance with accessibility regulations?      E.   Yes




                                                                                                                      Pass?
                                                                                                                              No
                                                                                             Yes
 review standards for rehabilitation projects met or exceeded by this project?
he greater of the Compliance Period or the Period of Affordability                      1)   Yes
                                                                                        2)   Yes
rehabilitation hard costs exceed $20,000 for properties less than 20 years old and      3)   Yes
exceed 20 years old
 the as-completed unrestricted appraised value of the property                          4)   Yes
common area amenities are not included in these amounts                                 5)   Yes

                                                                                        B.   Yes
                                                                                        1)   Yes
                                                                                        2)   Yes
                                                                                             Yes
                                                                                        3)   Yes
                                                                                        4)   Yes
                                                                                             Yes




                                                                                     Pass?


                                                                                             Yes
                                                                                             No

n identified on an organizational chart?                                                A.   Yes
                                                                                                                                     B.       No




                                                                                                                                     C.       No




                                                                                                    E. Owner                              0
                                                                                                    1) Gateway Construction Corp.         0
 to 2009 Application Submission?                                                                                                     2)       Yes
n the ownership entity and materially participate in ownership and operation of the project?                                         3)       Yes


                                                                                                     F. Developer                         0
                                                                                                     1) Gateway Construction Corp.        0
 to 2009 Application Submission?                                                                                                     2)       Yes
n the ownership entity and materially participate in ownership and operation of the project?                                         3)       Yes


                                                                                                    G. Manager                         0
                                                                                                    1) Hall Housing Investments, Inc. 0
 to 2009 Application Submission?                                                                                                    2)        Yes
n the ownership entity and materially participate in ownership and operation of the project?                                         3)       Yes

agreement with an experienced consultant, the Applicant must state the
                                                                                      Name of Property: 0                                 0


                                                                                                                                     I.       No


 set forth in the Consultant / Partnership Training Manual?                                                                          J.       No
                                                                                                          Pass?


                                                                                                             A.   No
                                                                                                             B.    0




                                                                                                          Pass?
                                                                                                                  Yes

(s) submitted a complete and correct DCA Compliance History Summary Form?                                    A.   Yes
                                                                                                             B.   Yes
 ect consultant(s) included in the application?                                                              C.   Yes
 gencies (both the MultiState Release Form and the Uniform Release Form)?                                    D.   Yes




                                                                                                          Pass?


                                                     A. 0                                                          0
affiliated or controlled by a for-profit organization, and whose tax-exempt purpose is the fostering of      B.    0
                                                                                                             C.    0
 managing general partner of the ownership entity?                                                           D.    0
 of the developer fee greater than or equal to its percentage of its ownership interest?                     E.    0
ship interest and developer fee amount included in the application?                                          F.    0




                                                                                                          Pass?
                                                  A. 0                                                             0
                                                                                                             B.    0
eral partner of the ownership entity?                                                                        C.    0
HDO own at least 51% of the general partnership interest?                                                                      D.     0
veloper Fee greater than or equal to the percentage of ownership interest?                                                     E.     0
(or the share of the wholly owned and controlled affiliate) of Developer Fee included in Application?                          F.     0
p throughout the period of affordability?                                                                                      G.     0




                                                                                                                            Pass?
orhood Standards?                                                                                                                    No
on (50% or more minority), Racially mixed (25% - 49% minority), or Non-minority                         A. Racially mixed                 <<Select>>
                                                                                                                                    Yes
                                                                                                                               C.   Yes




 cation using boxes provided.                                                                                               Pass?
                                                                                                                               A.     0
                                                                                                                               B.     0
                                                                                                                               C.     0
                                                                                                                               D.     0
                                                 E.                 0                                                                 0




                                                                                                                            Pass?
f its existing developments in the Georgia Housing Search within six months of selection. I agree.                             A.   Agree
 on the Georgia Housing Search website?                                                                                        B.   Yes
                                                      DCA's Comments:
                                                      0


                                                                                                                            Pass?
                                                                                                                               A.    No
                                                                                                                              B1)    No
ect will trigger the Uniform Relocation Act or 104(d).
                                                                  2)   No
hed as a part of the proposed work scope?                         C.   No
o DCA relocation requirements?                                    D.   No
                                                                  E.
                                                                  1)
                                                                  2)
                                                                  3)
                                                                  4)
                                                                  5)
                                                                  F.
                                                                  1)    0
                                                                  2)    0
                                                                  3)    0
                                                                        0
                                                                  4)   0




                                                               Pass?
he application binder where indicated by the Tabs Checklist?      A.   Yes
oosevelt Warm Springs                                                  Yes




                                                               Pass?
ERIA - 2009-005 Powell Place Apartments, , County

                                                                                                        Score         Self   DCA
                                                                                                        Value        Score   Score

                                                                                        TOTALS:                       67      10

with 10 points. Any points entered will be subtracted from score value)                                  10           10      10

or each missing or incomplete document, one (1) point will be deducted                                    7     A.    0       0
3 adjustments/revisions = one (1) pt deduction total; then (1) pt deducted for each add'l adjustment.     0     B.    0       0
ne (1) pt deducted if not organized in DCA format and/or required document not in correct tab.            1     C.    0       0
                                                   Enter "1" for each item                                                   Enter "1" for each item
 tments/revisions requested:                      Nbr        0         C. Documents not organized correctly: Nbr                          0
                                                             0         1                                                                  0
                                                             0         2                                                                  0
                                                             0         3                                                                  0
                                                             0         4                                                                  0
                                                             0         5                                                                  0
                                                             0         6                                                                  0
                                                             0         7                                                                  0
                                                             0         8                                                                  0
                                                             0         9                                                                  0
                                                             0         10                                                                 0
                                                             0         11                                                                 0
                                                             0         12                                                                 0
                                                                                             3                          0                 0

                                                                                                                        0                 0




                                                                                             3                          3                 0
hese restrictions:                           10           Percent of Residential Units:    15.9%




a for further requirements and information                                                                              13                0

o complete Desirable/Undesirable Certification form)                                        10                     A.   10                0
                                                                                          various                  1.   10                0
 the score value of 10)                                                                   various                  2.    0                0
                                                                          3   B.   3   0


County is considered rural by DCA. See list in TAB 1.




igh School sports field and to the west is a single family development.




                                                                          3   C.   0   0
                                  OR                                      3   1.   0   0
ved roads, sidewalks, established pedestrian walkways or bike trails.     3   2.   0   0




                0                                                         3   D.   0   0
                                             3    E.     0          0




                                             3    F.     0          0




choose only one)                             6    A.     3          0

choose only one)                             6    A.     0          0
anta Home Builder’s Association         OR   6    1.     0          0
orhood Development (LEED-ND)                 6    2.     0          0

choose only one)                             3    B.     3          0
er Atlanta Home Builder’s Association   OR   3    1.     3          0
                                        OR   3    2.     0          0
                                             3    2.     0          0

r program certification)                     1    C.     0          0




                                             12           3          0

choose only one)                             3           3          0
                 Lamar                       3    1.     3          0
                                             3    2.     0          0
e most recent FFIEC Census Report:                     Yes / No   Yes / No
                                                  a)     0          0
                                                  b)     0          0
                                                  c)     0          0
                                                  d)     0          0
                                                          e)     0          0




choose only one)                                      6   B.     0          0
                                                      6   1.     0
                                                               Yes / No   Yes / No
                                                          a)     0          0
                                                          b)     0          0
                                                          c)     0          0
                                                          d)     0          0
                                                      3   2.     0          0




                                                      3   C.     0          0
                                                      3   1.     0          0
                0        Number:              0       1   2.     0          0
                0                                     1   3.     0          0
 number from the plan:             Page Nbr                    Yes / No   Yes / No
                              a)      0           0       a)     0          0
                              b)      0           0       b)     0          0
                              c)      0           0       c)     0          0
and housing activities        d)      0           0       d)     0          0
                              e)      0           0       e)     0          0
                              f)      0           0       f)     0          0
                                   Page Nbr                    Yes / No   Yes / No
                              a)      0           0       a)     0          0
                              b)      0           0       b)     0          0
                              c)      0           0       c)     0          0
                              d)      0           0       d)     0          0
choose only one)                                                                  6        0   0


n allocation of 9% tax credits & at least one phase has commenced construction.   6   A.   0   0
                                                                                  3   B.   0   0
 it and/or HOME project has not been awarded w/in last 4 DCA funding cycles.      3   1.   0   0
 it and/or HOME project has not been awarded w/in last 3 DCA funding cycles.      2   2.   0   0




                                 (choose only one)                                2        2   0
                                                                                  2   A.   2   0
e Compliance period?                   Yes                                                 0   0
                                                                                  1   B.   0   0




                                 (choose only one)                                3        0   0
c Places & will be preserved according to SHPO rqmts                              3   A.   0   0
hey are located in a:
                                                                                  1   1.   0   0
                                                                                  1   2.   0   0
                                 (choose only one)                                    2          0          0
ligible for the nonprofit set-aside                                                   2   A.     0          0
 Plan’s Credits nonprofit set-aside                                                   1   B.     0          0




                                 (80 residential units or less)                       2          2          0
                                 DCA's Comments:
                                 0


                                                                                      4          4          0

                                                                                      3   A.     3          0
by identifying, at a minimum:                                                                  Yes / No   Yes / No
                                                                                          a)    Yes         0
                                                                                          b)    Yes         0
                                                                                          c)    Yes         0
, as opposed to merely expressing indifference                                            d)    Yes         0

                                                                                      1   B.     1          0
                                                                                               Yes / No   Yes / No
                Barnesville                       <Select Community of Opportunity>       a)    Yes         0
                                                                                          b)    Yes         0
                                                                                          c)    Yes         0
                                                                                          d)    Yes         0




                                                                                      9          6          0

                                                                                      3   A.     0          0
                                                                                      1   1.     0          0
                                                                                      1   2.     0          0
                    3    2.   0     0

                    6    B.   6     0
                    6    1.   6     0
                    6    2.   0     0

                    1    C.   0     0




                    6         6     0
e Tabs Checklist?             0     0




                    15        15    0

                              Yes   0
                           A.   15     0

                           B.   Pass   0




TOTAL POSSIBLE SCORE   0        67     10
ewaymgt.com
Allan Rappuhn
Managing Member
           -
##########
arappuhn@gatewaymgt.com




Allan Rappuhn
Managing Member
           -
##########
arappuhn@gatewaymgt.com
0
0
         -
         -
0

0
0
         -
         -
0



0
0
         -
         -
0

0
0
         -
         -
0



0
0
         -
         -
0


Allan Rappuhn
President
           -
##########
arappuhn@gatewaymgt.com

Allan Rappuhn
Member
           -
##########
arappuhn@gatewaymgt.com

0
0
         -
         -
0
            0
            0
                           -
                           -
            0



            0
            0
                           -
                           -
            0

            Scott Parker
            Member
                        -
                        -
            scott.parker@parklaneconstruction.com

            Gary Hall
            President
                      -
                      -
            ghall001@aol.com

            Thompson Kurrie
            Partner
                       -
             ##########
            tom.kurrie@colemantalley.com


            Donald Causey
            Partner
                       -
                       -
            dcausey@cybrtyme.com

            Rory McKean
            President
                       -
             ##########
            rmckean@mckeanarch.com




      6. Applicable
                               7. Project Ownership
Organizational Type (For
                                    Percentage
Profit, Nonprofit, CHDO)
      6. Applicable
                           7. Project Ownership
Organizational Type (For
                                Percentage
Profit, Nonprofit, CHDO)

                            0.0100%
                            0.0000%
                            0.0000%
                            0.0000%
                            0.0000%
                            0.0000%
                            0.0000%
                            0.0000%
                            0.0000%
                            0.0000%
                            0.0000%
                            0.0000%
                            0.0000%

NTS - DCA USE ONLY




Historic Rehab Credits
FHA Insured Mortgage
Other - describe here




Term (In Months)
Target DCR

    n/a
   1.15
     0
     0
     0
    n/a




     10
  1.000%
     15
  1.000%
     20
  1.000%
     25
  0.000%
     30
  0.000%
Amortizable or Non-
 Depreciable Basis



                  -
                  -
                  -
                  -
               13,500
                  -
                  -
                  -
                  -
               13,500


              280,000
                  -
                  -
                  -
              280,000


                  -
                  -
                  -
                  -
                  -
                  -
                  -
                  -
                  -


                  -
                  -
                  -


                  -



Amortizable or Non-
 Depreciable Basis




                  -
                  -
                  -
                  -
                  -
                  -
                  -
                  -


                  -
                  -
                  -
                  -
                  -
                  -
                  -


                  -
                  -
                  -
                  -
                  -


               10,000
               15,000
                  -
                  -
                  -
                  -
                  -
               25,000


Amortizable or Non-
 Depreciable Basis




                  500
                4,000
                  -
               56,136
               44,800
                6,000
                3,000
                  -
              114,436


                  500
                2,000
                  -
                  -
                2,500


                  -
                  -
                  -
                  -


               30,000
               30,000
               93,417
                  -
                  -
                  -
              153,417


                  -
                  -
                  -
                  -

              588,853
 State
0.2500


         0
Efficiency   1 BR 60%   2 BR 60%   3 BR 60%   4 BR 60%   Efficiency 1 BR 50%
60% Units       Units      Units      Units      Units   50% Units     Units
                                                                           2


                                                                           2
                                  1
                                                 2
                                                           2
                                  3
                                                 26
                                                           18
      1




      1        0          4                 28        20        0           0        4


II.       UNIT SUMMARY
          Units:                                                                Efficiency
                   Low-Income                                       60% AMI              -
                                                                    50% AMI              -
                                                                    Total                -
                   NSP (Both DCA and Other)                         120% AMI             -
                   Unrestricted                                                          -
                   Total Residential                                                     -
                   Common Space                                                          -
                   Total                                                                 -

                   HOME                                     0       60% AMI              -
                   (included in LI above)                           50% AMI              -
                                                              Total        -

                 NSP                                          60% AMI      -
                 (included in LI above)                       50% AMI      -
                                                              Total        -

                 PBRA-Assisted                                60% AMI      -
                 (included in LI above)                       50% AMI      -
                                                              Total        -
                 Construction:
                                          New Construction    Low Inc      -
                                                              NSP 120%     -
                                                              Mkt Rate     -
                                                              Total + CS   -
                                          Acq/Rehab           Low Inc      -
                                                              Low Inc      -
                                                              Mkt Rate     -
                                                              Total + CS   -
                                          Rehab Only          Low Inc      -
                                                              Low Inc      -
                                                              Mkt Rate     -
                                                              Total + CS   -



                 Building Type:
                                          Multifamily                      -
                                          SF Detached                      -
                                          Townhome                         -
                                          Duplex                           -
                                          Manufactured home                -
II.   UNIT SUMMARY
      Square Footage:
                  Low Income                                  60% AMI      -
                                                              50% AMI      -
                                                              Total        -
                 NSP                                          120% AMI     -
                 Unrestricted                                              -
                 Total Residential                                         -
                 Common Space                                              -
                 Total                                                     -
DCA USE
0
0


0
0
0
0




0
0


0
0
0




0




0




0
0
0
0
0
0
0


0
0
0
0


0
0
0
0




0
0
0
0
0
0
0
0
0
0




0
0
0
0
0
0
0


0




0
0




0
0
0
0
0
                 0
                 0




                 0
                 0
                 0
                 0




                 0
                 0
                 0
                 0
                 0
                 0
 Additional Amenities
Pre-approved by DCA?


                 0




                 0




                 0



                 0


                 0
0


0
0
0
0
0
0
0
0
0
0
0




0
0




0
0
0
0
0




0
0
0
0
0




0
0


0
0
0
0
0


0
0
0
0
0
0
0




0
0


0
0




0




0
0




0
0




0
0




0


0
0
0




0


0
0
0
0




0
0
0
0
0
0




0
0
0
             0
             0
             0
             0




             0
<<Select>>
             0
             0




             0
             0
             0
             0
             0




             0
             0




             0
             0
0
0
0


0
0
0
0
0

0
0
0
0
0




0
0
1" for each item
2 BR 50% 3 BR 50% 4 BR 50%   Efficiency 1 BR 30% 2 BR 30% 3 BR 30% 4 BR 30%   Efficiency   1 BR Mkt
   Units    Units    Units   30% Units     Units    Units    Units    Units   Mkt Units      Units

       1
                1
        2
                     3




3           4            0            0       0                 0             0            0              0   0



1BR         2BR          3BR          4BR     Total
        4           28           20       -           52 (Include mgr units that are income restricted)
        4            3            4       -           11
        8           31           24       -           63
    -           -            -            -       -
    -           -            -            -       -
        8           31           24       -           63
    -                1       -            -            1 (no rent may be charged)
        8           32           24       -           64

        1           2            2        -            5
        2           1            1        -            4
      3           3           3    -          9

  -           -           -        -     -
  -           -           -        -     -
      22          70          54   -     146

  -           -           -        -      -
  -           -           -        -      -
  -           -           -        -      -

      8           31          24   -          63
  -           -           -        -      -
  -           -           -        -      -
      8           32          24   -          64
  -           -           -        -      -
  -           -           -        -      -
  -           -           -        -      -
  -           -           -        -      -
  -           -           -        -      -
  -           -           -        -      -
  -           -           -        -      -
  -           -           -        -      -




  -           -           -        -      -
  -           -           -        -      -
  -           -           -        -      -
      8           32          24   -          64
  -           -           -        -      -



3,400      27,020      22,000      -   52,420
3,400       2,895       4,400      -   10,695
6,800      29,915      26,400      -   63,115
  -           -           -        -      -
  -           -           -        -      -
6,800      29,915      26,400      -   63,115
  -           965         -        -      965
6,800      30,880      26,400      -   64,080
                                 Efficiency  1 BR      2 BR      3 BR      4 BR    Efficiency  1 BR
2 BR Mkt   3 BR Mkt   4 BR Mkt    PBRA      PBRA      PBRA      PBRA      PBRA      PBRA      PBRA
  Units      Units      Units    30% Units 30% Units 30% Units 30% Units 30% Units 50% Units 50% Units
                                                                                                     2


                                                                                                     2
0   0   0   0   0   0   0   0   0   4
                                                                                Efficiency    1 BR
  2 BR      3 BR      4 BR    Efficiency  1 BR      2 BR      3 BR      4 BR    Common       Common
 PBRA      PBRA      PBRA      PBRA      PBRA      PBRA      PBRA      PBRA      Space        Space
50% Units 50% Units 50% Units 60% Units 60% Units 60% Units 60% Units 60% Units    Units       Units

       1
                  1
    2
            3
                            1
                                     2
                                               2
                            3
                                     26
                                               18




3       4       0   0   4       28        20        0   0   0
 2 BR      3 BR      4 BR
Common    Common    Common
 Space     Space     Space    Efficiency   1 BR 60% 2 BR 60% 3 BR 60% 4 BR 60% Efficiency    1 BR
  Units     Units     Units    60% SF         SF       SF       SF       SF     50% SF      50% SF
                                                                                                1700


                                                                                               1700
                       850
                               1930
                                        2200
                      2550
                              25090
                                       19800
    1




1       0   0   0   3,400    27,020   22,000   0   0   3,400
 2 BR     3 BR      4 BR  Efficiency    1 BR     2 BR     3 BR     4 BR  Efficiency 1 BR Mkt
50% SF   50% SF    50% SF 30% SF       30% SF   30% SF   30% SF   30% SF  Mkt SF       SF

   965
            1100
  1930
           3300




2,895    4,400    0   0   0   0   0   0   0   0
                                                                   Efficiency 1 BR
2 BR Mkt 3 BR Mkt 4 BR Mkt Efficiency 1 BR    2 BR   3 BR    4 BR  Common Common
   SF       SF       SF    PBRA SF PBRA SF PBRA SF PBRA SF PBRA SF Space SF Space SF
                                         1700
                                                 965
                                                        1100
                                         1700
                           1930
                                    3300
                   850
                           1930
                                    2200
                  2550
                          25090
                                   19800




0   0   0   0   6,800    29,915   26,400   0   0   0
                           Efficiency   1 BR       2 BR       3 BR       4 BR     Efficiency   1 BR
                              New       New        New        New        New         New       New
  2 BR     3 BR     4 BR   Constructi Constructi Constructi Constructi Constructi Constructi Constructi
Common Common Common         on LI      on LI      on LI      on LI      on LI     on Mkt     on Mkt
Space SF Space SF Space SF    Units     Units      Units      Units      Units       Units     Units
                                              2
                                                         1
                                                                    1
                                              2
                                 2
                                           3
                        1
                                 2
                                           2
                        3
                                 26
                                           18
  965




965     0   0   0   8       31        24        0   0   0
  2 BR       3 BR       4 BR     Efficiency   1 BR       2 BR       3 BR       4 BR
  New        New        New         New       New        New        New        New      Efficiency
Constructi Constructi Constructi Constructi Constructi Constructi Constructi Constructi      LI     1 BR
 on Mkt     on Mkt     on Mkt     on CS      on CS      on CS      on CS      on CS     Acq/Rhb Acq/Rhb
  Units      Units      Units       Units     Units      Units      Units      Units       Units   LI Units
                        1




0   0   0   0   0   1       0   0   0   0
                                                                                    Efficiency
  2 BR        3 BR        4 BR    Efficiency 1 BR      2 BR      3 BR      4 BR         CS      1 BR
Acq/Rhb     Acq/Rhb     Acq/Rhb Acq/Rhb Acq/Rhb Acq/Rhb Acq/Rhb Acq/Rhb Acq/Rhb Acq/Rhb
 LI Units    LI Units    LI Units Mkt Units Mkt Units Mkt Units Mkt Units Mkt Units    Units   CS Units
0   0   0   0   0   0   0   0   0   0
                                                                         0 BR     1 BR




 2 BR     3 BR     4 BR    Efficiency 1 BR  2 BR    3 BR     4 BR    Efficiency  1 BR
Acq/Rhb Acq/Rhb Acq/Rhb Rehab LI Rehab LI Rehab LI Rehab LI Rehab LI Rehab      Rehab
CS Units CS Units CS Units    Units   Units Units    Units    Units  Mkt Units Mkt Units
0   0   0   0   0   0   0   0   0   0
  2 BR     3 BR     4 BR                                                  0 BR       1 BR




  2 BR      3 BR      4 BR    Efficiency  1 BR    2 BR     3 BR     4 BR
 Rehab     Rehab     Rehab     Rehab     Rehab   Rehab    Rehab    Rehab 0 BR MF    1 BR
Mkt Units Mkt Units Mkt Units CS Units CS Units CS Units CS Units CS Units Units   MF Units
                                                                                      2


                                                                                      2
                                    1


                                    3




0   0   0   0   0   0   0   0   0   8
 2 BR      3 BR     4 BR     0 BR       1 BR       2 BR       3 BR       4 BR      0 BR      1 BR




 2 BR     3 BR     4 BR    SF Det'd   SF Det'd   SF Det'd   SF Det'd   SF Det'd    0 BR     1 BR
MF Units MF Units MF Units  Units      Units      Units      Units      Units     MH Units MH Units

   1
            1
2
     3

2
     2

26
     18
1




32   24   0   0   0   0   0   0   0   0
 2 BR      3 BR     4 BR      0 BR     1 BR     2 BR     3 BR     4 BR      0 BR    1 BR




 2 BR     3 BR     4 BR      Duplex   Duplex   Duplex   Duplex   Duplex   Townhom Townhom
MH Units MH Units MH Units    Units    Units    Units    Units    Units    e Units e Units
0   0   0   0   0   0   0   0   0   0
  2 BR    3 BR    4 BR    0 BR     1 BR      2 BR      3 BR      4 BR




Townhom Townhom Townhom 1-Story   1-Story   1-Story   1-Story   1-Story   2-Story   2-Story
 e Units e Units e Units Units     Units     Units     Units     Units     Units     Units
0   0   0   0   0   0   0   0   0   0
                              2-Story   2-Story   2-Story   2-Story   2-Story
2-Story   2-Story   2-Story    Wlkp      Wlkp      Wlkp      Wlkp      Wlkp     3+ Story   3+ Story
 Units     Units     Units     Units     Units     Units     Units     Units      Units      Units
                                           2
                                                     1
                                                               1
                                           2
                    2
                         3
                1
                    2
                         2
                3
                    26
                         18
                    1




0   0   0   0   8   32   24   0   0   0
                                            1 BR     2 BR     3 BR     4 BR                 1 BR
                               Effic 60%    60%      60%      60%      60%     Effic 50%    50%
3+ Story   3+ Story   3+ Story  HOME       HOME     HOME     HOME     HOME      HOME       HOME
  Units      Units      Units     Units     Units    Units    Units    Units      Units     Units
                                                                                              2
                1
                    2
                        2




0   0   0   0   1   2   2   0   0   2
 2 BR     3 BR     4 BR                 1 BR     2 BR     3 BR     4 BR                1 BR
 50%      50%      50%     Effic 30%    30%      30%      30%      30%     Effic 60%   60%
HOME     HOME     HOME      HOME       HOME     HOME     HOME     HOME        NSP      NSP
 Units    Units    Units      Units     Units    Units    Units    Units      Units    Units

  1
           1
1   1   0   0   0   0   0   0   0   0
2 BR    3 BR    4 BR                1 BR    2 BR    3 BR    4 BR    5 BR
60%     60%     60%     Effic 50%   50%     50%     50%     50%     50%     Effic 30%
NSP     NSP     NSP        NSP      NSP     NSP     NSP     NSP     NSP        NSP
Units   Units   Units      Units    Units   Units   Units   Units   Units      Units
0   0   0   0   0   0   0   0   0   0
1 BR    2 BR    3 BR    4 BR     Effic   1 BR    2 BR    3 BR    4 BR
30%     30%     30%     30%     120%     120%    120%    120%    120%      Effic
NSP     NSP     NSP     NSP     NSP      NSP     NSP     NSP     NSP      120%
Units   Units   Units   Units   Units    Units   Units   Units   Units   NSP SF
0   0   0   0   0   0   0   0   0   0
                                  Efficiency   1 BR       2 BR       3 BR       4 BR
                                     New       New        New        New        New     Efficiency
                                  Constructi Constructi Constructi Constructi Constructi NSP
 1 BR     2 BR     3 BR     4 BR   on NSP on NSP on NSP on NSP on NSP                     120%
 120%     120%     120%     120%    120%      120%       120%       120%       120%     Acq/Rhb
NSP SF   NSP SF   NSP SF   NSP SF    Units     Units      Units      Units      Units      Units
0   0   0   0   0   0   0   0   0   0
 1 BR      2 BR      3 BR      4 BR   Efficiency    1 BR     2 BR     3 BR     4 BR
Acq/Rhb   Acq/Rhb   Acq/Rhb   Acq/Rhb  Rehab       Rehab    Rehab    Rehab    Rehab
 NSP       NSP       NSP       NSP       NSP        NSP      NSP      NSP      NSP
 120%      120%      120%      120%     120%       120%     120%     120%     120%
  Units     Units     Units     Units    Units      Units    Units    Units    Units
0   0   0   0   0   0   0   0   0

				
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