Get documents about "Real Estate Investor Property Repair Checklist
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Real Estate Investor Property Repair Checklist document sample
Document Sample
Version 1: 2008
WORKBOOK INSTRUCTIONS Submission Date:
The Joint Application contains numerous Excel macros, meaning that various worksheets share
information. To allow the macros to work properly, the security setting on your Microsoft Excel
program must be turned to LOW. For Windows XP and lower, this is done through TOOLS-
Security/Macros: >MACRO->SECURITY. See screenshot below. After setting security to LOW, close out of excel
and re-open the document. For Windows VISTA, click the Microsoft Office Button and then
click Excel Options. In the Trust Center category, click Trust Center Settings, and then click the
Macro Settings category and set the security to low.
A number of cells contain self-generating summary calculations. These summary cells are shaded
GRAY and cannot be filled. If a cell is not auto-filling, it means additional information must still be
Auto-Filling Cells:
filled on this or another worksheet. Cells highlighted in LIGHT YELLOW are formulas that can be
typed over if the applicant has a modification.
Formula errors (i.e. #DIV/0!) may be visible in certain Auto-filled cells when you begin entering data.
Formula Errors: These formula errors result when information necessary to make a numeric calculation is not fully
entered. These errors should dissipate once required information is completely entered.
The Joint Application contains two entirely self-generating informational Summary worksheets.
Summary Pages:
They are the SUMMARY SHEET and the CASH FLOW worksheets.
The Application worksheet contains two cells shaded in LIGHT YELLOW. These are the Applicant
Developer/
Name and Development Name fields. Once this information is entered on the Application
Development
worksheet, it will be linked to a similarly named cell on all other worksheets to avoid having multiple
Name &
entries for these names. The Exhibit Checklist contains a "Submission Date" cell shaded in LIGHT
Submission Date:
YELLOW. This cell is linked across all worksheets.
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Version 1: 2008
WORKBOOK INSTRUCTIONS Submission Date:
● Use the Exhibit Checklist as your guide to determine the specific documents that must be
submitted for each type of funding request.
● If the same development will be submitted to both CHFA and DECD for funding, the application
submission requirements may vary. Make sure that each agency receives a complete application
based on the agency's specific requirements.
● For each line item in the Exhibit Checklist, the Application tab provides a more detailed
Exhibit Checklist:
explanation of submission requirements. For each Exhibit where a standard form is required, the
Exhibit Checklist contains a link to the form Exhibit. The form Exhibit then offers a navigation button
to bring the applicant either back to the Exhibit Checklist or to the Application form.
Development If the proposed submission does not contain any Low Income Housing Tax Credits (LIHTC),
Budget: disregard columns E and F.
Note that section 3.11 of the Application worksheet requires the level of architectural plans that
Schematic
must be submitted with the application. Note that DECD requires a minimum of 40% architectural
Drawings:
drawings be submitted with each application.
For the initial application submission, complete the yellow highlighted Submission Date field in the
Application Exhibit Checklist and "X" all items that will be submitted in the initial submission. For all subsequent
Submission: updates to the application, click "Insert Blank Exhibit Checklist" button, "X" only the items that have
changed and update the Submission Date.
Proforma The development's proforma stabilized year is entered in the Exhibit 3.4 Development Schedule. All
Stabilized Year: income and expenses should be stabilized year projections.
Section 1.12 of the Application form requires that applicants provide background information on
Applicant
your organizations capacity to complete the proposal. Make sure that the written description
Performance:
includes both your CHFA and DECD developments.
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Version 1: 2008
CHFA & DECD CONSOLIDATED APPLICATION FORM Submission Date:
General Information and Rental Developments
SECTION I. APPLICANT and CO-SPONSOR
Applicant and Co-Sponsor Information
1.1 Applicant
Applicant Name
Applicant Address
City State Zip
Contact Name Title
Phone Fax
Email FEIN
TIN
1.2 Co-Sponsor
Co-Sponsor Name Not Applicable
Co-Sponsor Address
City State Zip
Contact Name Title
Phone Fax
Email FEIN
If awarded funds pursuant to this application, will the applicant or co-sponsor be the recipient of funds? If no, please indicate type
of entity to-be-formed and anticipated name. Yes No
1.3 Please check appropriate Applicant type:
Individual For-Profit Entity Non-Profit Entity
Partnership * Limited Liability Company Municipality
Housing Authority Community Housing Development Corp. Municipal Developer
Other
*Date Corp. or Partnership was established:
1.4 Please check appropriate Co-Sponsor type
Individual For-Profit Entity Non-Profit Entity
Partnership * Limited Liability Company Municipality
Housing Authority Community Housing Development Corp. Municipal Developer
Other
*Date Corp. or Partnership was established:
If joint venture, explain the role of the non-profit:
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Version 1: 2008
CHFA & DECD CONSOLIDATED APPLICATION FORM Submission Date:
General Information and Rental Developments
1.5 Organizational Documents
If the applicant or co-sponsor is a legally existing organization, submit a copy of any incorporation documents and bylaws, including
(if applicable) documentation of non-profit status and certificate of legal existence for the current year. Attach and label as
"Exhibit 1.5"
1.6 Program Recapitalization
Is the Applicant or Co-Sponsor seeking financing to capitalize any new or existing programs? (DECD only) Yes No
If "Yes", please see attached program checklist to guide in the completion of this application.
1.7 Management Changes
Has there been any management or ownership changes in the Applicant and/or Co-Sponsor entity in the last twelve-month period?
(if "Yes" describe below) Yes No
1.8 Financial Statements and Annual Operating Budget
Attach the last three years audited financial statements or personal financial statements (include notes and projections) for both the
applicant, co-sponsors, and principals. If the Applicant and Co-Sponsor is newly formed with no historical financial statements, then
please provide financial statements for the parent organization. Please provide a copy of the Applicant and Co-Sponsor
organization’s current approved annual budget delineating state and non-state funding. Also identify any state agencies providing
funding. Attach and label as “Exhibit 1.8”
1.9 Applicant and Co-Sponsor’s Capacity
1.9.a. Please provide a written description of the Applicant’s and Co-Sponsor’s record of performance, qualifications and capacity
to perform its responsibilities for this development. Attach and label as “Exhibit 1.9. a.”
1.9.b. Work Completed and in Process
On the Applicant Capacity form provided, please identify:
a. 1. All developments currently underway by the Applicant or co-sponsor
b. 2. Developments completed in the last five years
c. 3. Five completed developments of similar type and scale in the last five years
Attach and label as "Exhibit 1.9.b"
1.10 Bankruptcy
Has the Applicant, Co-Sponsor, or any members of its development team, ever declared bankruptcy? Yes No
If "Yes", attach explanation and label as "Exhibit 1.10"
1.11 Taxes
Are the Applicant and Co-Sponsor current on all local, state, and federal taxes? Yes No
If "No", attach explanation and label as "Exhibit 1.11"
SECTION II. DEVELOPMENT TEAM
2.1 Qualified Development Team Contact Information
Provide information identifying the proposed qualified development team members on the form provided. Provide descriptions of
relevant experience and qualifications for each team member. Include resumes for all development team members. Attach and
label as "Exhibit 2.1"
If State or Federal Funds are to be used for architectural and engineering services then
DECD Procurement Standards and HUD CPD Notice 96-05 apply.
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CHFA & DECD CONSOLIDATED APPLICATION FORM Submission Date:
General Information and Rental Developments
2.2 Management Agent Approval (CHFA Financing and Next Steps Only)
The Connecticut Housing Finance Authority (CHFA) approves a proposed Management Agent (Agent) on an individual property
basis. At the time of application for CHFA financing, the sponsor is required to submit a list of Qualified Development Team
members. The proposed Agent must be a qualified member of the team. In order to obtain CHFA approval as a Qualified
Management Agent, the Agent must satisfy the requirements listed below. Please note the same requirements apply to existing
properties where a change in Agent is contemplated.
2.2.a. Demonstrate that the Agent is a licensed Real Estate Broker in good standing in the State of Connecticut (A copy of a
Connecticut Real Estate Broker’s’ License is required.) Exemptions to this requirement are enumerated in C.G.S. 20-329. The
exemptions include: “Any person who as owner or lessor performs any of the acts enumerated in Section 20-311 with reference to
property owned, leased or sought to be acquired or leased by the person, or to the person’s regular employees who are employed
as on-site residential superintendents or custodians….(5) persons in the employ of the federal or state government or any political
subdivision thereof while acting in the course of such employment….(6) any employee of any non-profit housing corporation that (A)
has been certified as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code…., or (B) manages a housing
project assisted in whole or in part by the federal government pursuant to Section 8 of the United States Housing Act…”. Attach
and label as “Exhibit 2.2.a"
2.2.b. Provide documentation from the Office of the Secretary of State indicating that the Agent is registered to do business in the
State of Connecticut. Attach and label as “Exhibit 2.2.b"
2.2.c. Demonstrate training and experience in management of multifamily residential housing acceptable to CHFA in at least one
of the following ways:
(a) Have managed low/moderate income housing assisted under Section 8, 202, 221(d)(3)(4), or 236 of the National Housing Act for
a period of not less than one year;
(b) Have managed conventionally-financed or unassisted multifamily housing for low/moderate income families for a period of not
less than three years; or
(c) Have completed specialized courses in the management of low and moderate income housing.
Attach and label as “Exhibit 2.2.c"
2.2.d. For developments receiving Low Income Housing Tax Credits (LIHTC), provide documentation evidencing knowledge of
and experience managing LIHTC developments as well as copies of LIHTC certifications received by staff.
Attach and label as “Exhibit 2.2.d"
2.2.e. Provide a list of all multifamily housing developments the Agent has managed, including all FHA-insured, HUD subsidized,
LIHTC and conventionally-financed developments. HUD Form #2530 Previous Participation Certificate must be completed by
Owner and Agent. Attach and label as “Exhibit 2.2.e"
2.2.f. Provide financial statements of the Agent’s principals reflecting current financial status and resources.
Attach and label as “Exhibit 2.2.f"
2.2.g. Provide a company profile including a list of principals and an organizational chart; staff resumes, experience and
professional designations; and a list of employees to be assigned to the property and their specific duties. Attach and label as
“Exhibit 2.2.g"
2.2.h. Confirm that the Agent will maintain an office within the State of Connecticut at which all books, documents, and records of
the development are made available to CHFA or its designees for examination at reasonable times. Attach and label as “Exhibit
2.2.h"
2.2.i. Provide a statement of familiarity and intention to comply with requirements as stated in CHFA’s loan documents, policies
and procedures. Attach and label as “Exhibit 2.2.i"
2.2.j. Arrange for CHFA staff to visit the Agent’s office and sites currently managed. Attach and label as “Exhibit 2.2.j"
2.2.k. Provide an oral presentation of management services and experience to CHFA staff. Attach and label as “Exhibit 2.2.k"
2.3 Construction Procurement Plan (DECD Only)
Applicant and Co-Sponsors seeking State or Federal funds through DECD are required to use, at a minimum, a Request for
Proposals Process in selecting their General Contractor. Provide your construction procurement plan in accordance with DECD’s
Procurement Standards. Attach and label as “Exhibit 2.3"
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CHFA & DECD CONSOLIDATED APPLICATION FORM Submission Date:
General Information and Rental Developments
SECTION III. DEVELOPMENT
3.1 Development Information
Development Name
Development Address* County
City State Zip
Metropolitan Area
3.1.a. Is Development Located in a Qualified Census Tract or Difficult Development Area?
* If yes, submit documentation from the City/Town Planner or Regional Planning Office of the project census tract. Attach and
label as “Exhibit 3.1.a”
Census Tract Congressional District
State Senate District(s) State House District(s)
3.1.b. * For multiple or scattered-site developments, please attach a detailed list of all proposed development sites. Attach and
label as “Exhibit 3.1.b”
3.1.c. How many years will the development remain affordable?
3.2 Development Scope (Check all that apply and enter number of units )
Total Units New Construction Rehab
Total number of units 0
Number of Income Restricted Rental Units 0
Number of Income Restricted Homeowner
Units 0
Number of Buildings 0
Number of CHFA Restricted Units 0
Number of DECD Restricted Units 0
Number of Non-Income Restricted Units 0
Number of Restricted Units that are co-funded
by CHFA and DECD 0
3.3 Development Description
3.3.a. Please provide a detailed description of the proposed construction and/or rehabilitation and other material aspects of the
development. Attach and label as “Exhibit 3.3.a”
3.3.b. Describe the neighborhood land use patterns and community demographics of the proposed development’s surrounding
area, contiguous land uses and the nature of the subject site including all existing improvements. Attach a location map, plot
plan and/or site layout and label as "Exhibit 3.3.b"
3.3.c. Describe how this development proposal complies with the Connecticut State Plan of Conservation and Development,
Connecticut State Statutes, DECD’s Consolidated Plan, the Connecticut State Long Range Housing Plan, the Next Steps RFP,
and/or the State Qualified Allocation Plan, as applicable. Attach and label as “Exhibit 3.3.c”
3.3.d. If Residential Equipment is different in qualified units from market rate units, describe. Attach and label as "Exhibit
3.3.d"
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CHFA & DECD CONSOLIDATED APPLICATION FORM Submission Date:
General Information and Rental Developments
3.4 Development Schedule
Submit a development schedule based on key events (acquisition, planning and zoning approval, construction, occupancy, etc.).
Attach and label as "Exhibit as 3.4"
3.5 Does the Applicant and/or Co-Sponsor have a previous financial involvement with this property? Yes No
3.6 Has the Applicant and/or Co-Sponsor received approval from the local Planning and Zoning Board? Yes No
If "Yes", attach and label as “Exhibit 3.6”
3.7 Site Control (check all that apply)
Please attach copies of all site control documents received to date. Attach and label as “Exhibit 3.7”
Number of
Parcels
Deed
Option Agreement*
Purchase Contract*
Ground Lease
Other (i.e. -- designated/preferred developer agreement)
Deed Acquisition Price Acquisition date
Option Agreement* Expiration Date
Purchase Contract* Expiration Date
Ground Lease Ground Lessor Maturity Date
Other (i.e. -- designated/preferred developer
agreement)
Disclosures to Seller: An Applicant or Co-Sponsor using DECD HOME funds to acquire
property must notify sellers in writing that the acquisition is completely voluntary and that such
Applicant and Co-Sponsor does not have the power of Eminent Domain. (Form Provided) See
DECD Appraisal Policy if application includes acquisition.
3.8 Site Plan
3.8.a. Please provide a preliminary site plan including building footprint(s) and all site improvements (minimum scale: 1” = 20’).
Include quantitative information on gross and net square footages, building heights, parking requirements, etc. Attach and label
as “Exhibit 3.8.a”
3.8.b. Please complete a Site and Building Report for each development site.
Attach and label as “Exhibit 3.8.b”
3.8.c. If a Capital Needs Assessment Report has been conducted on any existing structure, attach and label as "Exhibit 3.8.c"
3.8.d. The Connecticut State Historic Commission/SHPO must review all proposals to determine potential impact on historic
resources. Attach any correspondence to CHC/SHPO as well as their response letter regarding the proposal. Attach and label as
"Exhibit 3.8.d"
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CHFA & DECD CONSOLIDATED APPLICATION FORM Submission Date:
General Information and Rental Developments
3.8.e. Describe any known environmental issues and the proposed timeframe for commissioning a Phase I Environmental Site
Assessment if one has not yet been commissioned (Environmental Report is not required for HTCC). If the report has been
completed, please provide the Phase I Environmental Site Assessment Report. The Phase I Environmental Site Assessment
Report must be prepared by a Connecticut Licensed Environmental Professional. The qualification of both a professional firm and
the specific environmental consultant shall be included in the completed report. Also attach any other environmental documents
such as asbestos or lead paint assessments. Attach and label as “Exhibit 3.8.e” Please note, for CHFA Financing and Next
Steps, the Authority engages an outside third-party consultant (at the Applicant’s expense) to review environmental reports for
conformance to the “CHFA Environmental/Hazardous Materials Review Guidelines”. These guidelines, which can be accessed on
the Authority’s web page, state that the environmental consultant shall be a Connecticut licensed professional (“LEP”) listed on the
“CTDEP List of Licensed Environmental Professionals”.
3.8.f. Has there been any additional studies or remediation on the property?
Phase II Yes No
Phase III Yes No
Remediation Yes No
If "Yes", attach and label as "Exhibit 3.8.f"
3.9 Schematic Drawings
Include all of the following items if completed. Check the items that are included with this application. If any items below are NOT
included, attach documentation stating why it has not been submitted and when it will be submitted.
CHFA Financing & Next Steps – A minimum of Schematic Drawings, Outline Specifications and Project Cost Summary (Cost
Breakdown) must be submitted at time of application. Prior to Board Consideration, the Construction Documents need to be at a
minimum of 40% complete and a Trade Payment Breakdown must be submitted.
DECD projects - A minimum of Schematic Drawings, Outline Specifications and Project Cost Summary (Cost Breakdown) must be
submitted at time of application. Note that construction documents must be 100% complete prior to closing and/or prior to the
Department's request for Bond Commission funding for projects requiring individual Bond Commission approval. Rating and
Ranking points will be awarded based on the level of completeness of construction documents.
LIHTC – Schematic Drawings and Project Cost Summary (Cost Breakdown) are required at time of application. Points will be
awarded for either 10% or 40% complete Construction Documents.
HTCC – A Site Plan, Location Map and Project Cost Summary (Cost Breakdown) are required at time of application.
Proposed floor plans, elevations and residential unit layouts for each building and unit type in the proposed
development. (minimum scale: 1/8” = 1’– 0”). Attach and label as “Exhibit 3.9.a”
Outline Construction Specifications. Attach and label as "Exhibit 3.9.b"
Project Cost Summary (Construction Schedule of Values). The estimates should include the identity and
contact information of the party who prepared the estimates (i.e. architect, general contractor, cost
estimation consultant, etc.). Attach and label as "Exhibit 3.9.c"
Exploded trade payment breakdown to be submitted with 40% drawings. Attach and
label as "Exhibit 3.9.d"
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CHFA & DECD CONSOLIDATED APPLICATION FORM Submission Date:
General Information and Rental Developments
3.10 Reduction of Affordable Units
Will the proposed development result in a reduction of affordable units? Yes No
If yes, please complete the following chart.
60% AMI or below 60% - 80% AMI
How many units will be
lost?
How much square
footage will be lost?
3.11 Market Survey / Development Need
3.11.a. Please provide a brief description that demonstrates the need for this development and that describes the local market
conditions including the supply of affordable housing. In addition, attach the Market Survey (see exhibit 3.11.a.). Attach and label
as “Exhibit 3.11.a”
3.11.b. Market Study/market Analysis/Waiting Lists (DECD Only) If applying for DECD funds, development need must also be
documented by either a market analysis, market study, or waiting list. The age and source of data is critical. The more relevant and
reliable the data, the more weight it will be given during application review. For example, waiting lists that are current and purged
will receive the highest rating. Data will be evaluated by appropriate standards such as validity of methods, sample size and
relevance of data to the specific project proposed. Multiple data sources are evaluated favorably, though having one very solid
source is preferable to multiple soft sources. Attach and label as “Exhibit 3.11.b"
3.12 Narrative Submission Requirements (DECD Program only)
Please describe the goals and objectives for the program seeking capitalization. Include in your narrative
responses to the following:
3.12.a. Describe the type and level of assistance that will be provided through the program and the criteria for determining the
type of assistance offered?
3.12.b. What is the target area and strategies for marketing the program?
3.12.c. Identify the projected number of loans/grants to be funded through the program, the target population, and the time period
to complete the program.
3.12.d. Clearly identify how the program will operate, including application intake, application review, financial underwriting, the
available forms of assistance available to sub recipients and the criteria for determining the types of assistance offered, construction
oversight and HQS monitoring, and legal oversight.
3.12.e. Identify staffing needs, including specific staff roles and projected weekly hours to be spent on the program. Specific
responsible staff must be identified for each component, including intake, application review and underwriting, construction
services, HQS inspections, and ongoing oversight and enforcement.
3.12.f. Describe the internal review process to assure compliance with environmental and site issues, such as floodplain
compliance, wetlands, hazardous materials such as lead paint and asbestos, and other site and building issues.
3.12.g. If a first-time homebuyer program, give a detailed description of the pre and post purchase counseling/training that will be
provided. Include identification of who will conduct the training and their relevant experience. Also provide time frames (when) and
time periods (how long) for the training.
3.12.h. For homeownership projects, identify who will be responsible for long-term oversight of the project. This includes
monitoring for foreclosures, potential defaults and the resale and/or recapture provisions.
3.12.i. For rehabilitation programs, include your rehabilitation standards. Attach and label as “Exhibit 3.16.i”
3.13 Flood Zone
3.13.a. Is the proposed development located in a 100 year or 500 year FEMA mapped flood zone? Yes No
If "Yes", identify 100 year or 500 year and attach FEMA Flood Plain Map as "Exhibit 3.13.b" (DECD Only)
100 year Yes No
500 year Yes No
3.13.b. Letter from local official or project attorney concerning the site’s location in or not in a floodplain. Attach and label as
"Exhibit 3.13.b" (LIHTC Only)
DECD will NOT financially support any residential development in a 100 year or 500 year
FEMA mapped flood zone with State or Federal funds per Conn. Gen. Stat. Sec.25-68b.
However CHFA may consider such proposals for financing.
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CHFA & DECD CONSOLIDATED APPLICATION FORM Submission Date:
General Information and Rental Developments
3.14 Reduction of Affordable Units (HOME Only)
If the proposed development will result in a loss or reduction of affordable units, please provide the Applicant and Co-Sponsor’s plan
to replace the units in accordance with Section 104(d) (Barney Frank Amendment). Please provide copies of all local official
document certifying any units that are not suitable for rehabilitation. Attach and label as “Exhibit 3.14"
SECTION IV. RENTAL DEVELOPMENTS
4.1 Rental Income Calculation Worksheet
Identify the rent structure of the development by income targets, bedroom mix, and populations to be served. This exhibit also
identifies Utility Allowances and amenities. If development is utilizing rental subsidies, include executed rental assistance contract
or other documentation from appropriate agency. Attach and label as "Exhibit 4.1"
4.2 Operating Expenses
4.2.a. Detailed Expenses
Please complete the attached detailed expense form identifying the estimated operating expenses for the initial stabilized Net
Operating Income (NOI) for the development to be used in the cash flow analysis. Income and expenses on the Consolidated
Proforma are to be trended to the estimated stabilized year. Attach and label as "Exhibit 4.2.a"
4.2.b. Line by Line Explanation of Expenses
Please explain all income and expense line items in an attached document. Attach and label as "Exhibit 4.2.b"
4.2.c. Expense Summary
The Expense summary included in the application package will be self-generated based on the Detailed Expense Form. No input
required. Attach and label as "Exhibit 4.2.c"
4.2.d. Tax Schedule
Please provide documentation from the local Tax Assessor regarding the estimated “as developed” annual real estate tax burden on
the property for the selected pro forma year. If full taxes are not to be paid (i.e. full or partial abatement), provide a year-by-year
analysis of the proposed real estate tax schedule and include the annually scheduled amounts as part of the Cash Flow Projection.
Attach and label as "Exhibit 4.2.d"
4.2.e. Tax Abatement / PILOT
Is there a tax abatement or Payment in Lieu of Taxes (PILOT) associated with this development? Yes No
If "Yes", attach evidence and label as “Exhibit 4.2.e”
4.3 Cash Flow Projection
Please provide a multi-year cash flow projection covering the full term of the proposed CHFA and/or DECD financing. No input
required. Attach and label as “Exhibit 4.3”
4.4 Model Lease (DECD only)
Please attach a copy of the proposed model lease to be used in the development. Attach and label as “Exhibit 4.4”
4.5 Evidence of Utility Allowance
Attach and label as “Exhibit 4.5”
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CHFA & DECD CONSOLIDATED APPLICATION FORM Submission Date:
General Information and Rental Developments
SECTION V. FINANCING
5.1 Eligible Basis (LIHTC only)
Attestment letter from tax counsel re: eligible basis. Attach and label as “Exhibit 5.1”
5.2 Syndication Expenses (LIHTC only)
Itemized list of all syndication related expenses. Attach and label as “Exhibit 5.2”
5.3 Development Budget
Please provide an itemized budget listing all proposed uses of funds (hard and soft costs) for the development. For proposals using
Federal Low Income Housing Tax Credits (LIHTCs), Applicant and Co-Sponsors should provide a separate calculation showing how
the anticipated amount of net LIHTC proceeds shown in the proposed sources of funds was calculated or determined. Include a
letter or term sheet from the proposed syndicator or investor evidencing availability and applicable terms. Attach and label as
"Exhibit 5.3"
5.4 Labor Standards/Prevailing Wages (DECD HOME Program ONLY)
For projects that trigger federal prevailing wage requirements, the bid and construction documents must include all standard Federal
Labor Compliance clauses and the cost estimate must be based on Davis-Bacon costs. Contact your DECD Project Representative
prior to submission of the application to determine if Federal Labor requirements will be triggered. DECD will provide boilerplate
contract language and Federal Wage Rates as appropriate. Developers, Consultants, Contractors and Subcontractors must be
cleared from State and Federal Suspended and Debarred Contractors Lists.
Will Davis Bacon wage rates be required for this project? (check "Yes" if there will be 12 or more HOME assisted units)
Yes No
For DECD requests, applicants must identify the specific uses of DECD funds since certain
uses may trigger specific federal compliance requirements. Identify these costs in the two
right hand columns of the development budget.
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CHFA & DECD CONSOLIDATED APPLICATION FORM Submission Date:
General Information and Rental Developments
5.5 LIHTC Calculation
Complete the LIHTC Calculation worksheet. Attach and label as "Exhibit 5.5"
5.6 Sources of Funds
Complete the Sources of Funds exhibit. List all proposed sources for both construction and permanent financing. Be as descriptive
as possible. Provide terms and repayment provisions for all financing, including a detailed description of the terms and sources for
interim or bridge financing, if any. If proposal includes LIHTC, a syndication letter setting forth the discounted value of the credit
must be provided. Include copies of all funding commitments. Attach and label as "Exhibit 5.6"
5.7 Applicant and Co-Sponsor’s Financing Request
Construction Permanent
Funding Amount Funding Amount
HOME 0 0
Affordable (FLEX) 0 0
Housing Trust Fund 0 0
CHFA Multifamily Fin. 0 0
Next Steps 0 0
PRIME 0 0
5.8 Applicant and Co-Sponsor’s Equity Request
Construction Permanent
Funding Amount Funding Amount
LIHTC Proceeds (Fed) 0 0
HTCC Proceeds (State) 0 0
NOTE: *The Department of Economic and Community Development and the Connecticut Housing Finance
Authority reserve the right to determine the financing instrument, if any, they will offer the applicant regardless of
the application request, based on the outcome of each agency’s underwriting.
The undersigned understands that he/she may be prosecuted for false statement under the laws of the State of Connecticut
under Section 53a-157 of the General Statutes, as amended from time to time, for any false statement made herein; and,
the undersigned has been duly authorized to submit the attached in its name.
It is hereby represented by the undersigned as an inducement to the Department of Economic and Community Development
and the Connecticut Housing Finance Authority to consider the financial assistance requested herein, that to the best of my
knowledge and belief no information or data contained in this application or in the attachments are in any way false or
incorrect and that no material information has been omitted. The undersigned understands that the Department of
Economic and Community Development and/or Connecticut Housing Finance Authority will rely on the information in this
application and that, if the application is approved, any deliberate omissions, misrepresentations and/or incorrect statements
in this application may result in withdrawal of the application from the review process at the Department of Economic and
Community Development’s and/or Connecticut Housing Finance Authority’s discretion.
The undersigned agrees that banks, credit agencies, the Connecticut Department of Labor, the Connecticut
Department of Revenue Services, the Connecticut Department of Environmental Protection, and other references
are hereby authorized now, or anytime in the future, to give the Department of Economic and Community
Development and the Connecticut Housing Finance Authority any and all information in connection with matters
referred to in this application, including information concerning the payment of taxes by the Applicant and Co-
Sponsor. In addition, the undersigned agrees that the funds that may be provided pursuant to this application be
utilized exclusively for the purposes represented in this application, as may be amended.
Applicant Signature Date
Co-Sponsor Signature Date
The undersigned understands that he/she may be prosecuted for false statement under the laws of the State of Connecticut under Section
53a-157 of the General Statutes, as amended from time to time, for any false statement made herein; and, the undersigned has been duly
authorized to submit the attached in its name.
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Version 1: 2008
EXHIBIT CHECKLIST Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
= Not applicable N = Non-Threshold Item - if applicable, required prior to approval. If available, include with application.
T = Threshold Item - if applicable, required at application submission
Check if submitted or Mark N/A THIS FORM MUST BE SUBMITTED WITH INITIAL APPLICATION & ALL RESUBMISSIONS CHFA/
DECD use
DECD Funding CHFA Funding
only
Next Exhibit
Program Project Financing LIHTC HTCC
Steps Number
SECTION I. APPLICANT & CO-SPONSOR
T T N T T 1.5 Organizational Documents
T T T T 1.8 Financial Statements and Annual Operating Budget
T T T T 1.9.a Applicant's and Co-Sponsor's Record of Performance
T T T T 1.9.b Applicant Capacity (Form Provided)
T T T T T 1.10 Explanation of Bankruptcy
T T T T T 1.11 Explanation of Current Taxes
SECTION II. DEVELOPMENT TEAM
T T T T T T 2.1 Qualified Development Team Contact Information (Form Provided)
T N T 2.2 Management Agent Approval
T N T 2.2.a Connecticut Real Estate Broker’s’ License
T N T 2.2.b Agent is registered to do business in the State of Connecticut
T N T 2.2.c Experience in management of multifamily residential housing
T N T 2.2.d Experience managing LIHTC developments
T N T 2.2.e List of all multifamily housing developments the Agent has managed
T N T 2.2.f Financial statements of the Agent’s principals
T N T 2.2.g Company profile
T N T 2.2.h Maintain an office within the State of Connecticut
T N T 2.2.i Statement of familiarity and intention
T N T 2.2.j CHFA staff visit Management Agent property
T N T 2.2.k Oral presentation of management services
T T 2.3 Construction Procurement Plan
SECTION III. DEVELOPMENT
T N T T 3.1.a Qualified Census Tract
T N T 3.1.b Multiple and/or Scattered Site Detailed Listing
T T T N T 3.3.a Development Description
T T N T T 3.3.b Location Map, Plot Plan and/or Site Layout
T T T T T 3.3.c Compliance with State Plans
T T 3.3.d Residential Equipment
T T T N T T 3.4 Development Schedule (Form Provided)
N N T T T 3.6 Planning & Zoning Board Approval
T T T T T 3.7 Site Control Documentation
T T N T T 3.8.a Site Plan
T T N T 3.8.b Site & Building Report (Form Provided)
N N N T 3.8.c Capital Needs Assessment Report
T T T N T 3.8.d Historic Property Documentation
T T T N T 3.8.e Phase I Environmental Site Assessment or other Site Hazardous Materials Review
N N N N 3.8.f Phase II Environmental Site Assessment report
T T N T 3.9.a Schematic Drawings
T T N T 3.9.b Outline Specifications (Form Provided)
T T N T T 3.9.c Project Cost Summary (Form Provided)
N N N N 3.9.d Exploded Trade Payment Breakdown (Form Provided)
T T T T 3.11.a Market Survey (Form Provided)
T T T 3.11.b Market Study/Market Analysis/Waiting Lists
T 3.12 Narrative Submission for Programs
T T T 3.13.a Flood Zone
SECTION IV. RENTAL DEVELOPMENTS (N/A for Homeownership Projects)
T T T T T 4.1 Rental Income Calculation Worksheet (Form Provided)
D:\Docstoc\Working\pdf\File \ Exhibit Checklist 13 of 48
Version 1: 2008
EXHIBIT CHECKLIST Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
= Not applicable N = Non-Threshold Item - if applicable, required prior to approval. If available, include with application.
T = Threshold Item - if applicable, required at application submission
Check if submitted or Mark N/A THIS FORM MUST BE SUBMITTED WITH INITIAL APPLICATION & ALL RESUBMISSIONS CHFA/
DECD use
DECD Funding CHFA Funding
only
Next Exhibit
Program Project Financing LIHTC HTCC
Steps Number
T T T T T 4.2.a Detailed Income & Expense Form (Form Provided)
N N T N T 4.2.b Line by Line Explanation of Expenses
T T T T T 4.2.c Expense Summary (Generated Form)
T T N T 4.2.d Tax Schedule
T T N T 4.2.e Real Estate Tax Estimate / PILOT
T T T T 4.3 Cash Flow Projection (Generated Form)
T 4.4 Model Lease
N T N T T 4.5 Evidence of Utility Allowance
SECTION V. FINANCING
T 5.1 Eligible Basis
T T 5.2 Syndication Expenses
T T T N T T 5.3 Development Budget (Form Provided)
T T 5.5 LIHTC Calculation (Form Provided)
T T T T T T 5.6 Sources of Funds (Form Provided)
D:\Docstoc\Working\pdf\File \ Exhibit Checklist 14 of 48
Version 1: 2008
DEVELOPMENT SUMMARY Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
PERMANENT SOURCES of FUNDS FUNDING GAP
CHFA SOURCES 0 TOTAL SOURCES 0
CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ] 0 TOTAL USES 0
CHFA 1st Mortg. Loan [ Taxable Bonds ] 0 FUNDING GAP $0
CHFA 1st Mortg. Loan [ Non-Bond Proceeds ] 0
CHFA Next Steps Funds 0
Federal LIHTC Net Proceeds 0
RESIDENTIAL UNIT MIX
DECD SOURCES 0 NUMBER NUMBER OF TOTAL
DECD / HUD HOME Funds 0 OF RENTAL HOMEOWNERSHIP NUMBER OF
DECD Affordable Housing Program - FLEX 0 UNITS UNITS UNITS
DECD Housing Trust Fund 0 0-BR 0 0
DECD / HUD CDBG Small Cities Funds 0 1-BR 0 0
DECD Other [ Specify ] 0 2-BR 0 0
3-BR 0 0
HOMEOWNERSHIP SALES PROCEEDS 0 4-BR 0 0
5-BR 0 0
OTHER SOURCES 0 TOTAL UNITS 0 0 0
Gross Square Feet #DIV/0! #DIV/0! #DIV/0!
TOTAL SOURCES $0
USES OPERATING PROJECTION
Construction Hard Costs 0.0% 0 Proforma Stabilized Year = 0
Construction Contingency 0.0% 0
Architectural / Engineering 0.0% 0 INCOME
Finance and Interim Costs 0.0% 0 TOTAL RESIDENTIAL REVENUE 0
Soft Costs (Fees and Expenses) 0.0% 0 TOTAL NON-RESIDENTIAL REVENUE 0
Developer Allow. / Fee (Overhead+Profit) 0.0% 0
Pre-Develop. Carrying Costs 0.0% 0 GROSS INCOME 0
Site Acquisition (Recognized) 0.0% 0 LESS: Overall Vacancy Loss 0
Capitalized Reserves 0.0% 0 EFFECTIVE GROSS INCOME (EGI) 0
Other 0.0% 0
Recognized Lending Costs 0.0% 0 EXPENSES 0
Entity / Syndication / Other Costs 0.0% 0
TOTAL USES $0 ESTIMATED INITIAL NOI $0
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Version 1: 2008
Exhibit 1.9.b. - APPLICANT CAPACITY FORM Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
CURRENT PROJECTS UNDERWAY
Planned Total
# of Date Completion Development
Applicant/Co-Sponsor Name Project Name Stage Units Initiated Date Budget Town/ City
PROJECTS COMPLETED
Total
# of Date Date Development
Applicant/Co-Sponsor Name Project Name Project Type Units Initiated Completed Budget Town/ City
PROJECTS OF SIMILAR TYPE & SCALE
Total
# of Date Date Development
Applicant/Co-Sponsor Name Project Name Project Type Units Initiated Completed Budget Town/ City
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Version 1: 2008
Exhibit 2.1 - QUALIFIED DEVELOPMENT TEAM CONTACT INFORMATION Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
APPLICANT
(Owner/Mortgagor): 0
Address: 0
, 0 Website:
Principal(s):
Contact Person: 0 Email Address: 0
Telephone Number: 0 Fax Number: 0
Identity of interests: Yes No Entity:
DEVELOPER
(Legal Name):
Address:
Website:
Principal(s):
Contact Person: Email Address:
Telephone Number: Fax Number:
Identity of interests: Yes No Entity:
ARCHITECT
Address:
Website:
Principal(s):
Contact Person: Email Address:
Telephone Number: Fax Number:
Identity of interests: Yes No Entity:
ENGINEER
Address:
Website:
Principal(s):
Contact Person: Email Address:
Telephone Number: Fax Number:
Identity of interests: Yes No Entity:
CONSULTANT
Address:
Website:
Principal(s):
Contact Person: Email Address:
Telephone Number: Fax Number:
Identity of interests: Yes No Entity:
Services to be provided:
Estimated Cost: Estimated Hours:
SS / Federal Tax ID #: Is this firm a certified Small Business firm?
Is this firm a certified Minority/Women-Owned Enterprise?
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Version 1: 2008
Exhibit 2.1 - QUALIFIED DEVELOPMENT TEAM CONTACT INFORMATION Submission Date:
CONTRACTOR
Address:
Website:
Principal(s):
Contact Person: Email Address:
Telephone Number: Fax Number:
Identity of interests: Yes No Entity:
PROPERTY MANAGER
Address:
Website:
Principal(s):
Contact Person: Email Address:
Telephone Number: Fax Number:
Identity of interests: Yes No Entity:
TAX CREDIT SYNDICATOR
Address:
Website:
Principal(s):
Contact Person: Email Address:
Telephone Number: Fax Number:
Identity of interests: Yes No Entity:
SERVICE PROVIDER
Address:
Website:
Principal(s):
Contact Person: Email Address:
Telephone Number: Fax Number:
Identity of interests: Yes No Entity:
OTHER
Address:
Website:
Principal(s):
Contact Person: Email Address:
Telephone Number: Fax Number:
Identity of interests: Yes No Entity:
OTHER
Address:
Website:
Principal(s):
Contact Person: Email Address:
Telephone Number: Fax Number:
Identity of interests: Yes No Entity:
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Version 1: 2008
Exhibit 3.4 - DEVELOPMENT SCHEDULE Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
Activity Date: CHFA/DECD Use Only
Month/Year
Current Year: 2009
Site:
Option/Contract
Site Acquisition
Zoning Approval
Site Analysis
Financing:
Construction Loan
Loan Application
Conditional Commitment
Firm Commitment
Permanent Loan
Loan Application
Conditional Commitment
Firm Commitment
Other Loans & Grants
Type & Source: (describe)
Application
Award
Other Loans & Grants
Type & Source:
Application
Award
Other Loans & Grants
Type & Source: (describe)
Application
Award
Plans & Specifications:
Schematics
40% drawings
100% drawings
Closing & Transfer of Property
Construction Start
Completion of Construction
Lease-up
Sustaining Occupancy
Proforma Stabilized Year*
LIHT Credit Placed-In-Service Date
Will project construction be in phases? Yes No
If Yes, please indicate phase below and provide a separate schedule for each
phase on separate sheet.
Phase:
* Proforma Stabilized Year (PSY) is the first full year following lease up with sustaining occupancy. For
example, if sustaining occupancy is projected to occur in March of 2009, the PSY would be 2010.
Development Schedule
Version 1: 2008
Exhibit 3.8.b - SITE AND BUILDING REPORT Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
SECTION 1- GENERAL INFORMATION
Site name (if any):
Address: 0
Town/City: 0 State: 0 Zip: 0
Type of Housing Proposed: # of Units: 0
Acquisition Date 1/0/00
SECTION 2- PROPERTY INFORMATION
Present Owner:
Telephone #: FEIN #: SSN (if individual):
Address:
Town/City: State: Zip:
Present Lessee:
Telephone #: FEIN #: SSN (if individual):
Address:
Town/City: State: Zip:
Option Holder:
Telephone #: FEIN #: SSN (if individual):
Address:
Town/City: State: Zip:
Acreage: Shape: Dimensions: Frontage:
Size of Open Space: Buildable Space Size:
Easements: Liens: R.O.W.:
Present Zoning: Required Zoning:
Assessors Map: Section: Parcel: Lot:
Adjacent Property Use:
North:
South:
East:
West:
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Version 1: 2008
Exhibit 3.8.b - SITE AND BUILDING REPORT Submission Date:
SECTION 3- PROPERTY ASSESSMENT
For the 2 charts below, check one box for each factor/condition
Site Location:
Facilities Distance
Recreation <.5 miles .5- 1 miles 1-2 miles >2 miles
Stores <.5 miles .5- 1 miles 1-2 miles >2 miles
Schools <.5 miles .5- 1 miles 1-2 miles >2 miles
Places of Worship <.5 miles .5- 1 miles 1-2 miles >2 miles
Public Transportation <.5 miles .5- 1 miles 1-2 miles >2 miles
Fire Station <.5 miles .5- 1 miles 1-2 miles >2 miles
Site Conditions:
Conditions Factors
Access No Road Minor Road Major Road Highway
Agricultural Soils None Local State PRIME
Floodplain None 100 yrs 100-500yrs 500+ yrs
Wetlands (swamps, marshes) None 1 - 25% 26 - 50% >50%
Slope- Family 0% 1 - 10% 11 - 15% >15%
Slope- Elderly 0% 1 - 5% 6 - 10% >10%
Water Supply Watershed Within 1000' Private Wells
Protected of well Dense Sparse
Access to Utilities- Public Water Not Available Within 500' Within 200' At Site
Access to Utilities- Sanitary Sewers Not Available Within 500' Within 200' At Site
Access to Utilities- Storm Sewers Not Available Within 500' Within 200' At Site
Access to Utilities- Electric Not Available Within 500' Within 200' At Site
Access to Utilities- Gas Line Not Available Within 500' Within 200' At Site
Do ledge or rock outcroppings appear on the site? Yes No
Does the municipality require underground utilities? Yes No
Will utilities need to be brought to the site? Yes No
If "Yes", estimate expense to accomplish task:
Will road(s) need to be provided for the project? Yes No
If "Yes", will it be a public or private road? Public Private
Estimated Cost Length (feet) Cost/L.F. Total Cost
Offsite Road(s) x = $0
Onsite Road(s) x = $0
Is the site located in an Historical District? Yes No
SECTION 4- BUILDING INFORMATION
Total number of existing buildings on site:
Age of building(s) on site:
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Version 1: 2008
Exhibit 3.8.b - SITE AND BUILDING REPORT Submission Date:
Building Type (check all that apply):
Free standing/detached Townhouse Duplex Multi-unit
Semi-attached Walk-up Elevator Other
If Other, Describe:
Number of Stories: Type of Construction:
Existing net residential square footage of the building(s): S.F.
Are buildings currently occupied? Yes No
Describe:
Will the proposed activity result in requirements pertaining to the
Uniform Relocation and/or Replacement Act? Yes No
If "No", how long has it been vacant? (Months/Years):
Are any sites' structures of historical significance? Yes No
If "Yes" describe:
Has the federal, state, or local Historical Commission determined that
the building historical significance? Yes No
Has SHPO been notified of the impending rehab? Yes No
SECTION 5- BUILDING(S) ASSESSMENT
Indicate the age of the following conditions and check one box to describe its current condition. If there are multiple
buildings, provide chart for each building.
Existing Conditions Age Good Fair Poor
Roof
Exterior
Interior
Windows
Mechanical Systems
Insulation
Electrical Systems
Floor
Structural Systems
SECTION 6- SITE AND BUILDING ENVIRONMENTAL INFORMATION
What were/are the past and current uses of the property? (check all that apply)
Undeveloped Industrial Commercial Residential Other
Describe uses:
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Version 1: 2008
Exhibit 3.8.b - SITE AND BUILDING REPORT Submission Date:
What was the most recent business activity at the site?
Is Lead-based paint evident? Yes No
Are any potentially asbestos containing materials evident? (Check all that apply)
Ceiling Tiles Floor Tiles Sprayed-on Fireproofing Pipe insulation Wrap
Acoustical Plaster Other
Describe materials:
Are there now, or have there ever been, any underground
or aboveground storage tanks on the property? Yes No
If "Yes" Describe:
Are there transformers or capacitors on the property, which may contain PCBs? Yes No
If "Yes" Describe:
Were any chemicals or fuels handled at the site? Yes No
If "Yes" Describe:
Are any of the following obvious physical signs of contamination on or around the property? (check all that apply)
Stained soil or concrete Vegetation Damage Foul or unusual odors
Oily sheens or discoloration of surface water Other
Describe:
Are there groundwater wells on the property? Yes No
Is the groundwater in the immediate area used as a source of drinking water? Yes No
Are there any easements on the property (roads, pipelines) with potential environmental implications? Yes No
Is the property the subject of environmental litigation, regulatory citations, or enforcement action? Yes No
Are there any adverse press reports or complaints on file concerning the property? Yes No
Is the property, or any of the adjacent properties, on a federal, state,
or local list of hazardous waste or contaminated sites? Yes No
Could the activities at adjacent businesses or properties pose potential environmental risks? Yes No
Is the property near any floodplain, wetland or sensitive ecological area? Yes No
SECTION 7- PROPOSED PROJECT INFORMATION
Proposed plan for existing building(s): (check all that apply) No Change Demolition
Adaptive Reuse Moderate Rehab Substantial Rehab
What is the square footage of the building(s)?
Cost per Square Foot
Residential: s.f. #DIV/0!
Commercial: s.f. #DIV/0!
Other: s.f. #DIV/0!
Total: 0 s.f. #DIV/0!
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Version 1: 2008
Exhibit 3.8.b - SITE AND BUILDING REPORT Submission Date:
What is the percentage of square feet to be funded by DECD? %
Will the proposed project have more than 150 bedrooms? Yes No
For the chart below, indicate the energy sources proposed for each building and function:
Type of Service Proposed Energy Source
Heating
Cooling
Hot Water
Cooking
Will there be elevator service in the building? Yes No
For the chart below, indicate the number of units that are designed and equipped for persons with physical disabilities
as well as units for persons without physical disabilities. All units on the first or ground floor or served by an elevator must
be wheelchair accessible.
Type of Unit Bedroom Size
1 2 3 4 5 Total
Basement: Accessible 0
Basement: Non-Accessible 0
1st Floor: Accessible 0
1st Floor: Non-Accessible 0
2nd Floor: Accessible 0
2nd Floor: Non-Accessible 0
3rd Floor: Accessible 0
3rd Floor: Non-Accessible 0
Total Number of Units: 0 0 0 0 0 0
Total Accessible: 0 Total Non-Accessible: 0
Section 8- Project Approvals
In the chart below, list approvals currently in place and attach copies of each approval. (Zoning, etc.)
Type of Approval Approved Expiration Special Conditions
Date Date
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Version 1: 2008
Exhibit 3.8.b - SITE AND BUILDING REPORT Submission Date:
In the chart below, list approvals still required but not in place. (Zoning, etc)
Type of Approval Probable Date of Receipt Anticipated Special Conditions
SECTION 9- SUPPORTING DATA
The following materials and maps need to be attached to this document:
-Directions to the site from a major highway
-An 8 1/2" X 11" section of the 1:24,000 scale U.S. Geological Survey map showing the proposed site
-A 1" = 500' (min) to 1" = 200' (max) street map of approximately a 3/4 mile radius around the site with Public and
Community Facilities located
-A plot plan from the Assessor's office showing boundaries and dimensions, adjacent lots and streets
-Evidence of existing zoning and eligible uses or applicable zoning regulations/ordinances
-Information from the City or Town Engineer's office vis-à-vis grades, farmlands, sub-soils, ledge, floodplains, wetlands,
topography, or other unusual site conditions
-Soils and utility maps for the site
-Boring or test pit reports made on the site or adjacent sites
-Site and building (interior and exterior) photographs. Include a minimum of six for both interior and exterior.
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Version 1: 2008
Exhibit 3.9.b - OUTLINE SPECIFICATIONS Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
Address: 0
City/Town: 0 State: 0 Zip: 0
Mortgagor: 0
Prepared by: Date:
Title: Company:
SITE IMPROVEMENT
Parking Lot (material/thickness):
Curb (material): Sidewalk (material):
Special Site Conditions (slope, wetlands, hazardous materials):
FOUNDATIONS AND FOOTINGS
Basement walls (material, height):
Crawl Space: Yes No Sidewalk: Yes No
Insulation (type and R-value):
Yes No
Waterproofing (type): Footing drains:
Soil Type: Bearing capacity:
Water table (ft below grade):
INTERIOR STRUCTURAL SYSTEMS
Vertical load bearing members (structural steel/wood frame/masonry):
Floor system(s):
Roof system(s):
Wall system(s):
EXTERIOR ENVELOPE
Wall system (materials/size/spacing):
Insulation (R-value) for: Roof: Wall: Crawl space: Basement:
Roof Covering (material): Years of guarantee:
Doors (material): R-value:
MECHANICAL
Plumbing Pipes:
Below grade (type/material):
Above grade (type/material):
Heating:
Boiler or furnace (type/material): Fuel source: f
AFUE rating: # of apartments per heating unit:
Domestic hot water (size): Fuel source:
AFUE rating:
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Version 1: 2008
Exhibit 3.9.b - OUTLINE SPECIFICATIONS Submission Date:
Cooling:
Central air system: Fuel source:
EER Rating:
Fire protection/sprinkler (NFPA 13 or NFPA 13R):
Fire rating between units (walls): STC rating between units (walls):
Fire rating between units (floors): STC rating between units (floors):
ELECTRICAL
Load provided (per unit): Emergency lighting system:
Lighting fixture types:
Fire alarm system (describe):
Tenant communication system (describe):
Emergency call system (describe):
Building security system (describe):
INTERIOR FINISHES
Dwelling Units Public Areas
living/dining bedroom bath kitchen lobby corridor stairway lavatory
Floor
Wall
Ceiling
I hereby certify that the above Outline Specification information was
prepared under my guidance and
direction for the development known as: 0
I further certify that the preparation of the Outline Specifications includes the review and acknowledgement of the Connecticut Housing Finance Authority 2008
Standards of Design and Construction.
Prepared by:
Architect Date
Firm / Company Name
Accepted by:
Developer / Sponsor / Mortgagor Date
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Version 1: 2008
Exhibit 3.9.c - PROJECT COST SUMMARY (Construction Schedule of Values) Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
Number of Buildings Total Retail Square Footage
Total Project Square Footage Total Number of Units 0
Total Living Unit Square Footage
**This form represents the Contractor's and/or Mortgagor's firm costs and services as a basis for disbursing dollar amounts when advances are requested.**
LINE DIV. DIV./TRADE ITEM TOTAL EXPENSE COST/UNIT COST/S.F. REMARKS
1 2 Testing #DIV/0! 0
2 2 Environmental #DIV/0! 0
3 2 Grading & Excavation #DIV/0! 0
4 2 Site Utilities #DIV/0! 0
5 2 Paving, Walks & Signs #DIV/0! 0
6 2 Unusual Site Conditions #DIV/0! 0
7 2 Lawns & Plantings #DIV/0! 0
8 2 Other Site Work #DIV/0! 0
9 2 Demolition #DIV/0! 0
10 3 Concrete #DIV/0! 0
11 4 Masonry #DIV/0! 0
12 5 Metals #DIV/0! 0
13 6 Rough Carpentry #DIV/0! 0
14 6 Finish Carpentry #DIV/0! 0
15 7 Moisture Protection #DIV/0! 0
16 7 Insulation #DIV/0! 0
17 7 Roofing #DIV/0! 0
18 7 Sheet Metal #DIV/0! 0
19 7 Siding #DIV/0! 0
20 8 Doors & Hardware #DIV/0! 0
21 8 Windows & Glazing #DIV/0! 0
22 9 Acoustical Tile #DIV/0! 0
23 9 Drywall #DIV/0! 0
24 9 Ceramic Tile #DIV/0! 0
25 9 Wood Flooring #DIV/0! 0
26 9 Resilent Flooring #DIV/0! 0
27 9 Painting and Decorating #DIV/0! 0
28 9 Carpet #DIV/0! 0
29 10 Unit AC and/or Sleeves #DIV/0! 0
30 10 Specialties #DIV/0! 0
31 11 Special Equipment (Specify) #DIV/0! 0
32 11 Cabinets & Vanities #DIV/0! 0
33 11 Appliances #DIV/0! 0
34 12 Blinds, Shades & Artwork #DIV/0! 0
35 13 Special Construction #DIV/0! 0
36 14 Elevators #DIV/0! 0
37 15 Plumbing #DIV/0! 0
38 15 Hydronic Heating #DIV/0! 0
39 15 HVAC #DIV/0! 0
40 15 Fire Suppression #DIV/0! 0
41 16 Electrical (Building Only) #DIV/0! 0
42 TOTAL STRUCTURE & LAND IMPROVEMENTS 0
43 1 General Requirements
44 SUBTOTAL (Lines 42 & 43) 0
45 Builder's Overhead & Profit
46 SUBTOTAL (Lines 44 & 45) 0
47 Building Permit & Other Fees (Specify)
48 Bond Premium
49 TOTAL FOR ALL IMPROVEMENTS $0
Within sixty (60) days after substantial completion of the Development, as determined by the Authority, and prior to Final Closing, General Contractor and identity of
interest subcontractors shall deliver to the Authority, in form and content acceptable to the Authority, audited statements of costs certified by independent certified public
accountant(s) licensed in the State of Connecticut and acceptable to the Authority, to further verify such costs.
Mortgagor and Contractor CHFA / DECD Staff
Signature Date Signature Date
Name Title Name Title
Signature Date Signature Date
Name Title Name Title
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Version 1: 2008
Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
DIVISION TRADE ITEM QUANTITY COST TOTAL
01 GENERAL REQUIREMENTS
General Project Manager $0.00
Requirements Superintendent $0.00
Secretary $0.00
Vehicle Expense $0.00
Travel Expense $0.00
Snow Removal $0.00
OSHA Protection $0.00
Survey & Layout ( Site & Bldg.) $0.00
Weather Protection $0.00
Project Photographs $0.00
Dumpsters $0.00
Record Drawings $0.00
Broken Glass Repair $0.00
Temporary Toilets $0.00
Temporary Fencing $0.00
Temporary Heat (Winter Cond'n) $0.00
Temporary Power $0.00
Temporary Water $0.00
Temporary Office $0.00
Temporary Telephone $0.00
Temporary Fire Protection $0.00
Tests & Inspect'ns (Unless Spec'd) $0.00
Construction Sign $0.00
Materials Storage $0.00
SUBTOTAL: $0.00
TOTAL FOR GENERAL REQUIREMENTS: $0.00
02 SITE WORK
Special Testing Asbestos Removal $0.00
SUBTOTAL: $0.00
Environmental Lead-Based Paint Removal $0.00
Others (Specify) $0.00
Demolition $0.00
SUBTOTAL: $0.00
Grading & Clearing & Grubbing $0.00
Excavation Cut & Fill $0.00
Rock Excavation $0.00
Foundation Excavation & Backfill $0.00
Trenching $0.00
SUBTOTAL: $0.00
02 SITE WORK (Continued)
Site Utilities Water Supply $0.00
Sanitary Sewer $0.00
Storm Sewer $0.00
Gas $0.00
Electric Trenching $0.00
Electric conduit and wire $0.00
Offsite $0.00
SUBTOTAL: $0.00
Version 1: 2008
Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
DIVISION TRADE ITEM QUANTITY COST TOTAL
Paving Bituminous Paving $0.00
Walks & Boxing Out Paving $0.00
Signs Rough / Binder Course $0.00
Finish Coat $0.00
Curbing $0.00
Signs $0.00
Concrete Walks and Steps $0.00
Terrace (Specify) $0.00
SUBTOTAL: $0.00
Unusual Site Rock Excavation $0.00
Conditions Unsuitable Soil $0.00
Others (Specify) $0.00
SUBTOTAL: $0.00
Lawns & Topsoil $0.00
Planting Seeding & Sodding $0.00
Plantings $0.00
SUBTOTAL: $0.00
Other Retaining Walls & Fences $0.00
Site Benches,Tables,Playgr'nd Equip. $0.00
Work Irrigation $0.00
Site Lighting $0.00
Basketball Court, Tennis Court $0.00
Pool & Equipment $0.00
SUBTOTAL: $0.00
Demolition (Specify) $0.00
SUBTOTAL: $0.00
TOTAL FOR SITE WORK: $0.00
03 CONCRETE
Concrete Concrete Footings $0.00
Foundation Walls $0.00
Columns $0.00
Slab-On-Grade $0.00
Structural Slabs / Roof Deck $0.00
Reinforcing Steel $0.00
SUBTOTAL: $0.00
TOTAL FOR CONCRETE: $0.00
04 MASONRY
Masonry Face Brick $0.00
Concrete Block $0.00
Ties & Reinforcing Trusses $0.00
SUBTOTAL: $0.00
TOTAL FOR MASONRY: $0.00
05 METALS
Metals Structural Steel $0.00
Misc. Lintels & Ladders $0.00
Steel Stairs & Handrails $0.00
SUBTOTAL: $0.00
Version 1: 2008
Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
DIVISION TRADE ITEM QUANTITY COST TOTAL
TOTAL FOR METALS: $0.00
06 CARPENTRY
Rough Floor Framing Lumber $0.00
Carpentry Floor Framing Trusses $0.00
Wall Framing $0.00
Roof Framing Lumber $0.00
Roof Framing Trusses $0.00
Exterior Wall Sheathing $0.00
Plywood Subflooring $0.00
Plywood Underlayment $0.00
SUBTOTAL: $0.00
Finish Wood Stairs & Handrails $0.00
Carpentry Closet Shelving, Rods $0.00
Wood Base & Moulding $0.00
Wood Door & Window Trim $0.00
Millwork $0.00
SUBTOTAL: $0.00
TOTAL FOR CARPENTRY: $0.00
07 THERMAL & MOISTURE PROTECTION
Moisture Dampproofing $0.00
Protection Waterproofing $0.00
Membrane Waterproofing $0.00
Prefab. Foundation Drainage $0.00
Caulking $0.00
SUBTOTAL: $0.00
Insulation Foundation Insulation $0.00
Wall Insulation $0.00
Ceiling Insulation $0.00
SUBTOTAL: $0.00
Roofing Shingle Roofing (Specify) $0.00
Builtup Roofing (Specify) $0.00
Single Ply Roofing (Specify) $0.00
SUBTOTAL: $0.00
Sheet Metal Gutters & Leaders $0.00
Flashing $0.00
SUBTOTAL: $0.00
07 THERMAL & MOISTURE PROTECTION CONT.
Siding Vinyl / Aluminum Siding (Specify) $0.00
Wood Shingles / Siding (Specify) $0.00
SUBTOTAL: $0.00
TOTAL FOR THERMAL & MOISTURE PROTECTION: $0.00
08 DOORS & WINDOWS
Doors & Doors & Frames Exterior $0.00
Hardware Doors & Frames-Interior $0.00
Door Hardware $0.00
Specialty Doors & Frames $0.00
SUBTOTAL: $0.00
Version 1: 2008
Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
DIVISION TRADE ITEM QUANTITY COST TOTAL
08 DOORS & WINDOWS Cont.
Windows Windows & Glazing $0.00
Aluminum Storefront $0.00
SUBTOTAL: $0.00
TOTAL FOR DOORS & WINDOWS: $0.00
09 FINISHES
Acoustical Tile Ceilings $0.00
SUBTOTAL: $0.00
Drywall Gypsum Board Walls $0.00
Gypsum Board Ceilings $0.00
SUBTOTAL: $0.00
Ceramic Tile Flooring & Base $0.00
SUBTOTAL: $0.00
Wood Flooring Flooring & Base $0.00
SUBTOTAL: $0.00
Res. Flooring Flooring & Base $0.00
SUBTOTAL: $0.00
Painting Interior Painting $0.00
Exterior Painting $0.00
SUBTOTAL: $0.00
Carpet Flooring $0.00
SUBTOTAL: $0.00
TOTAL FOR FINISHES: $0.00
10 SPECIALTIES
Unit A/C Unit A/C and/or Sleeves (Specify) $0.00
SUBTOTAL: $0.00
Specialties Toilet Accessories $0.00
Interior Signage $0.00
Interior Mailboxes $0.00
Other (Specify) $0.00
Fire Extinguishers $0.00
SUBTOTAL: $0.00
TOTAL FOR SPECIALTIES: $0.00
11 EQUIPMENT
Special Equip. (Specify) $0.00
SUBTOTAL: $0.00
Cabinets Kitchen Cabinets $0.00
& Vanities Bathroom Vanities $0.00
SUBTOTAL: $0.00
Version 1: 2008
Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
DIVISION TRADE ITEM QUANTITY COST TOTAL
Kitchen Dishwasher $0.00
Appliances MicroWave $0.00
Range $0.00
Range Hood $0.00
Refrigerator $0.00
Washer & Drain Pan $0.00
Dryer $0.00
SUBTOTAL: $0.00
TOTAL FOR EQUIPMENT: $0.00
12 FURNISHINGS
Furnishing Blinds, Shades & Artwork $0.00
SUBTOTAL: $0.00
TOTAL FOR FURNISHINGS: $0.00
13 SPECIAL CONSTRUCTION
Special Indoor Swimming Pool $0.00
Construction Greenhouse $0.00
SUBTOTAL: $0.00
TOTAL FOR SPECIAL CONSTRUCTION: $0.00
14 CONVEYING SYSTEM
Conveying Sys Elevators $0.00
SUBTOTAL: $0.00
TOTAL FOR CONVEYING SYSTEM: $0.00
15 PLUMBING, HVAC & FIRE SUPPRESSIONOT WATER
Rough Water Supply Piping $0.00
Plumbing Drain,Waste & Vent Piping $0.00
Pipe Insulation $0.00
Gas Piping $0.00
SUBTOTAL: $0.00
Finish Kitchen Sinks & Faucets $0.00
Plumbing Toilet Fixtures $0.00
Lavatory Fixtures & Faucets $0.00
Shower & Tub Enclosures $0.00
Hot Water Heaters & Drain Pans $0.00
SUBTOTAL: $0.00
Hydronic Boiler Equipment $0.00
Heating Baseboard Radiation $0.00
Supply & Return Piping $0.00
Pipe Insulation $0.00
SUBTOTAL: $0.00
15 PLUMBING, HVAC & FIRE SUPPRESSIONOT WATER Cont.
Heating Rooftop Equipment / Furnaces $0.00
Ventilation Supply & Return Ductwork $0.00
A/C Registers & Grilles $0.00
Bathroom Exhaust Fans $0.00
Kitchen Exhuast Ductwork & Grille $0.00
Central-air System $0.00
SUBTOTAL: $0.00
Version 1: 2008
Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
DIVISION TRADE ITEM QUANTITY COST TOTAL
Suppr System Suppression System - Dry / Wet $0.00
SUBTOTAL: $0.00
TOTAL FOR PLUMBING, HVAC & FIRE SUPPRESSION: $0.00
16 ELECTRICAL (Building Only)
Rough Main Service Panel & Meters $0.00
Electrical Rough Wiring $0.00
SUBTOTAL: $0.00
Finish Switches,Receptacles $0.00
Electrical Lighting Fixtures $0.00
Cable T.V.System $0.00
Security System $0.00
Emergency Generator $0.00
Emergency Call for Aid System $0.00
SUBTOTAL: $0.00
TOTAL FOR ELECTRICAL: $0.00
TOTAL FOR ALL DIVISIONS (2-16) $0.00
% of Total
#DIV/0! GENERAL REQUIREMENTS (Div. 01 from above) 0 $0.00
#DIV/0! OVERHEAD & PROFIT $0.00
SUBTOTAL: $0.00
Misc. Items: BUILDING PERMIT $0.00
OTHER FEES $0.00
BOND PREMIUM $0.00
SUBTOTAL: $0.00
GRAND TOTAL OF ALL COSTS: $0.00
I hereby certify that the proposed housing can be built for the cost shown above:
Mortgagor and Contractor CHFA / DECD Staff
Signature Date Signature Date
Name Title Name Title
Signature Date Signature Date
Name Title Name Title
Version 1: 2008
Exhibit 3.9.d - EXPLODED TRADE PAYMENT BREAKDOWN Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
DIVISION TRADE ITEM QUANTITY COST TOTAL
It is standard CHFA policy to not allow payment to the Contractor for stored materials.
CHFA will only fund materials when they are installed within the project. CHFA does,
however, allow payment for long-lead items, i.e. elevators, precast concrete, structural
steel or large project specific mechanical equipment. Any request for stored materials
cost must be made directly to CHFA Underwriting and Technical Services before Initial
Closing.
In the event CHFA Underwriting and Technical Services approves the request for stored
materials, these materials must be insured, secured and paid for by the Contractor. The
materials may be stored, either on-site or off-site and must be readily available for
inspection by the CHFA Field Observer. CHFA will also require that the General
Contractor provide the expected cost for this storage in his General Requirements
breakdown. A line item has been added to the Exploded Trade Payment Breakdown, “
Materials Storage” for this purpose. Any materials not approved as stored materials,
purchased by the Contractor or Subcontractor, will be at their expense until such time as
the material has been installed within the project. Once these materials have been
accepted by the Owner and the CHFA Field Observer, CHFA will fund the expense
Version 1: 2008
Exhibit 3.11.a. - Market Survey Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
Complete the following information for each development in the proposed project's primary market area. Attach
extra sheets if necessary. The primary market area for the proposal is defined as:
Development Name:
Address:
Utilities Included,
Unit Mix/Rent: # of Units Rent/Mo. Yes or No
0-BR:
1-BR:
2-BR:
3-BR:
4-BR:
Distance to proposed site:
Comparability to proposed project: (10 high to 1 low):
Current Occupancy %: (Confirmed or Estimated):
Development Name:
Address:
Utilities Included,
Unit Mix/Rent: # of Units Rent/Mo. Yes or No
0-BR:
1-BR:
2-BR:
3-BR:
4-BR:
Distance to proposed site:
Comparability to proposed project: (10 high to 1 low):
Current Occupancy %: (Confirmed or Estimated):
Development Name:
Address:
Utilities Included,
Unit Mix/Rent: # of Units Rent/Mo. Yes or No
0-BR:
1-BR:
2-BR:
3-BR:
4-BR:
Distance to proposed site:
Comparability to proposed project: (10 high to 1 low):
Current Occupancy %: (Confirmed or Estimated):
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Version 1: 2008
Exhibit 4.1 - RENTAL INCOME CALCULATION WORKSHEET Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
Current Year 2009 Proforma Stabalized Year (PSY) 0
AMENITIES FUNDING SOURCES
Identify the amenities that are included: Identify AMI percentages and corresponding funding sources (DECD only) :
Yes No Funding (e.g. Home, LIHTC, Flex Targeted AMI Percentage of
Range
Number of Units
Yes No Funds) Percentage Units
Refrigerator
Yes No
Dishwasher #DIV/0!
Yes No
Garbage Disposal #DIV/0!
Yes No
Air Conditioning #DIV/0!
Yes No
Garages #DIV/0!
Yes No
Porch/Deck #DIV/0!
Yes No
Basement #DIV/0!
Other-Identify: #DIV/0!
UTILITY ALLOWANCE
"X" all that Apply Enter Current Year Tenant Paid Utility Allowance for all the Apply
Indicate Energy
Source (e.g.:
Owner Paid Tenant Paid 0BR 1BR 2BR 3BR 4BR
gas, electric)
Heating
Hot Water
Cooking
Lighting
Air Cond.
Other
Total $0.00 $0.00 $0.00 $0.00 $0.00
Utility Allowance Trended to Proforma Stabilized Year: $0.00 $0.00 $0.00 $0.00 $0.00
Source and Effective Date of Utility Allowances:
RENTAL INCOME
0 0
AMI % # Bedrooms # Units Unit Size Total Square Number of Persons per Unit Applicant's Utility Allowance
(Square Feet) Feet Baths per Unit Proposed
Monthly Gross
Rent
(DECD Only)
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
0 $0.00
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Version 1: 2008
Exhibit 4.1 - RENTAL INCOME CALCULATION WORKSHEET Submission Date:
0 0 0 0 0
AMI % # Bedrooms # Units Applicant's Estimated Annual Gross Annual Gross Vacancy Rate Effective Gross
Proposed Net Monthly Rental Rental Subsidy Rent Revenue Income
Rent Subsidy per Unit Revenue
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
0% 0% 0 $0 $0 $0 n/a $0
Total 0 $0 $0 $0 $0
Number of LITHC Qualified Units 0 Number of Other Affordable Units 0 Number of Market Rate Units 0
CHFA & DECD RENT GUIDELINES
2009 2009 2009 0 0 0 Does Proposed
AMI % # Bedrooms Maximum Allowable Maximum Maximum Annual Allowable Gross Rent
Allowable Housing Cost Allowable Gross Allowable Gross Proposed Gross Housing Cost meet CHFA &/or
Family Income Adjusted for Rent Rent Rent Adjusted for DECD
Family Size Family Size Requirements?
(DECD Only) (DECD Only) (CHFA Only) (CHFA Only) (DECD Only)
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
0% 0 $0 $0 $0 N/A
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Version 1: 2008
Exhibit 4.2.a - DETAILED INCOME & EXPENSES Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
Expenses are based on Proforma Stabilized Year 0
Asset
Non- Asset Manager Manager Adj. Adjusted Adjusted %
LINE ITEM DESCRIPTION Residential Residential $$ Per Unit % of GPI Adjustment Proforma $$/Unit of GPI
1 Rent Revenue- Gross Potential 0 0 0.0% 0 0 0.0%
2 Tenant Assistance Payments (HAP Receipts) 0 0 0.0% 0 0 0.0%
3 Rent Revenue- Stores & Commercial 0 0.0% 0 0 0.0%
4 Rent Revenue- Garage & Parking 0 0.0% 0 0 0.0%
5 Flexible Subsidy Revenue 0 0.0% 0 0 0.0%
6 Miscellaneous Rent Revenue 0 0.0% 0 0 0.0%
7 Excess Rent 0 0.0% 0 0 0.0%
8 Rent Revenue- Insurance 0 0.0% 0 0 0.0%
9 Special Claims Revenue 0 0.0% 0 0 0.0%
10 Retained Excess Income 0 0.0% 0 0 0.0%
11 Total Rent Revenue (GPI @ 100% Occupancy) 0 0 0 0.0% 0 0 0.0%
12 Apartments- Vacancy 0 0 0.0% 0 0 0.0%
13 Stores & Commercial- Vacancy 0 0.0% 0 0 0.0%
14 Rental Concessions 0 0.0% 0 0 0.0%
15 Garage & Parking- Vacancy 0 0.0% 0 0 0.0%
16 Miscellaneous (other vacancy) 0 0.0% 0 0 0.0%
17 Total Vacancies 0 0 0 0.0% 0 0 0.0%
18 Net Rental Revenue (Rent Revenue Less Vacancy) 0 0 0 0.0% 0 0 0.0%
19 Elderly & Congregate Serv. Income (attach schedule) 0 0.0% 0 0 0.0%
20 Financial Revenue- Project Operations 0 0.0% 0 0 0.0%
21 Revenue from Investments- Residual Receipts 0 0.0% 0 0 0.0%
22 Revenue from Investments- Replacement Reserves 0 0.0% 0 0 0.0%
23 Revenue from Investments- Miscellaneous 0 0.0% 0 0 0.0%
24 Total Financial Revenue 0 0 0 0.0% 0 0 0.0%
25 Laundry & Vending Revenue 0 0.0% 0 0 0.0%
26 NSF & Late Fees 0 0.0% 0 0 0.0%
27 Damages & Cleaning Fees 0 0.0% 0 0 0.0%
28 Forfeited Tenant Security Deposits 0 0.0% 0 0 0.0%
29 Tenant Charges (Total of Line 26-28) 0 0 0 0.0% 0 0 0.0%
30 Interest Reduction Payments 0 0.0% 0 0 0.0%
31 Miscellaneous Revenue 0 0.0% 0 0 0.0%
32 Total Other Revenue 0 0 0 0.0% 0 0 0.0%
33 TOTAL REVENUE 0 0 0 0.0% 0 0 0.0%
34 Conventions & Meetings 0 0.0% 0 0 0.0%
35 Management Consultants 0 0.0% 0 0 0.0%
36 Advertising & Marketing 0 0.0% 0 0 0.0%
37 Apartment Resale Expenses (Co-ops) 0 0.0% 0 0 0.0%
38 Other Renting Expenses 0 0.0% 0 0 0.0%
39 Office Salaries 0 0.0% 0 0 0.0%
40 Office Supplies 0 0.0% 0 0 0.0%
41 Telephone & Answering Service 0 0.0% 0 0 0.0%
42 Office Expenses (Total of Line 40 & 41) 0 0 0 0.0% 0 0 0.0%
43 Office or Model Apartment Rent 0 0.0% 0 0 0.0%
44 Management Fee 0 0.0% 0 0 0.0%
45 Manager or Superintendent Salaries 0 0.0% 0 0 0.0%
46 Administrative Rent Free Unit 0 0.0% 0 0 0.0%
47 Legal Expense- Project 0 0.0% 0 0 0.0%
48 Audit Expense 0 0.0% 0 0 0.0%
49 Bookkeeping Fees/Accounting Services 0 0.0% 0 0 0.0%
50 Bad Debts 0 0.0% 0 0 0.0%
51 Miscellaneous Administrative Expenses 0 0.0% 0 0 0.0%
52 Total Administrative Expenses 0 0 0 0.0% 0 0 0.0%
53 Fuel Oil/ Coal 0 0.0% 0 0 0.0%
54 Electricity 0 0.0% 0 0 0.0%
55 Water 0 0.0% 0 0 0.0%
56 Gas 0 0.0% 0 0 0.0%
57 Sewer 0 0.0% 0 0 0.0%
58 Total Utilities Expense 0 0 0 0.0% 0 0 0.0%
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Version 1: 2008
Exhibit 4.2.a - DETAILED INCOME & EXPENSES Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
Expenses are based on Proforma Stabilized Year 0
Asset
Non- Asset Manager Manager Adj. Adjusted Adjusted %
LINE ITEM DESCRIPTION Residential Residential $$ Per Unit % of GPI Adjustment Proforma $$/Unit of GPI
59 Janitor & Cleaning Payroll 0 0.0% 0 0 0.0%
60 Grounds Payroll 0 0.0% 0 0 0.0%
61 Repairs Payroll 0 0.0% 0 0 0.0%
62 Payroll (Total of Line 59-61) 0 0 0 0.0% 0 0 0.0%
63 Janitor and Cleaning Supplies 0 0.0% 0 0 0.0%
64 Exterminating Supplies 0 0.0% 0 0 0.0%
65 Ground Supplies 0 0.0% 0 0 0.0%
66 Repairs Material 0 0.0% 0 0 0.0%
67 Decorating Supplies 0 0.0% 0 0 0.0%
68 Supplies (Total of Line 63-67) 0 0 0 0.0% 0 0 0.0%
69 Janitor and Cleaning Contracts 0 0.0% 0 0 0.0%
70 Exterminating Contracts 0 0.0% 0 0 0.0%
71 Grounds Contracts 0 0.0% 0 0 0.0%
72 Repairs Contracts 0 0.0% 0 0 0.0%
73 Elevator Maintenance Contract 0 0.0% 0 0 0.0%
74 Swimming Pool Maintenance Contract 0 0.0% 0 0 0.0%
75 Decorating (Painting) Contract/Payroll 0 0.0% 0 0 0.0%
76 Contracts (Total of Line 69-75) 0 0 0 0.0% 0 0 0.0%
77 Operating & Maintenance Rent Free Unit 0 0.0% 0 0 0.0%
78 Garbage & Trash Removal 0 0.0% 0 0 0.0%
79 Security Payroll/ Contracts 0 0.0% 0 0 0.0%
80 Security Rent Free Unit 0 0.0% 0 0 0.0%
81 Heating/Cooling Repairs & Maintenance 0 0.0% 0 0 0.0%
82 Snow Removal 0 0.0% 0 0 0.0%
83 Vehicle & Maint. Equip. Operation & Repair 0 0.0% 0 0 0.0%
84 Miscellaneous Operating & Maintenance 0 0.0% 0 0 0.0%
85 Total Operating & Maintenance Expenses 0 0 0 0.0% 0 0 0.0%
86 Real Estate Tax 0 0.0% 0 0 0.0%
87 Payroll Taxes (project share) 0 0.0% 0 0 0.0%
88 Property & Liability Insurance 0 0.0% 0 0 0.0%
89 Fidelity Bond Insurance 0 0.0% 0 0 0.0%
90 Workmen's Compensation 0 0.0% 0 0 0.0%
91 Health Insurance & Other Benefits 0 0.0% 0 0 0.0%
92 Miscellaneous Taxes, Licenses, Permits 0 0.0% 0 0 0.0%
93 Other Insurance 0 0.0% 0 0 0.0%
94 Misc. Taxes, Lic., Permits & Ins. (Lines 92 & 93) 0 0 0 0.0% 0 0 0.0%
95 Total Taxes & Insurance 0 0 0 0.0% 0 0 0.0%
96 Elderly & Congregate Serv. Expense (attach schedule) 0 0.0% 0 0 0.0%
97 TOTAL OPERATING EXPENSES 0 0 0 0.0% 0 0 0.0%
98 OPERATING INCOME (LOSS) 0 0 0 0.0% 0 0 0.0%
99 Mortgage Principal & Interest- CHFA Debt 0 0.0% 0 0 0.0%
100 Mortgage Principal & Interest- Other Debt 0 0.0% 0 0 0.0%
101 Mortgage Insurance Premium/ Service Charges 0 0.0% 0 0 0.0%
102 Miscellaneous Financial Expenses 0 0.0% 0 0 0.0%
103 Total Financial Expenses 0 0 0 0.0% 0 0 0.0%
104 Replacement Reserve Deposits 0 0.0% 0 0 0.0%
105 Operating (Other) Reserve Deposits 0 0.0% 0 0 0.0%
106 NET PROJECTED CASH FLOW 0 0 0 0.0% 0 0 0.0%
107 Replacement Reserve Releases 0 0.0% 0 0 0.0%
108 Operating Reserve Releases 0 0.0% 0 0 0.0%
109 Capital Improvements- Building (attach schedule) 0 0.0% 0 0 0.0%
110 Capital Improvements- Equipment (attach schedule) 0 0.0% 0 0 0.0%
111 Net Operating Income (NOI) 0 0 0.0% 0 0 0.0%
112 Debt Service Coverage Ratio (DSC) n/a
113 Per Unit Expenses (Less: RE Taxes) 0
The undersigned presents the enclosed estimates as reasonable and accurate projections of operating income and expenses for stated stabilized fiscal year.
Accepted By: Management Company
Signature Date Signature Date
Name Title Name Title
D:\Docstoc\Working\pdf\a7a7eba4-09d7-4ef3-ac68-ec0fcf0fbbb7.xls \ Detailed Income and Expenses 40 of 48
Version 1: 2008
Exhibit 4.2.c - EXPENSES SUMMARY Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
DETAILED INCOME
NON-
& EXPENSES LINE
EXPENSES RESIDENTIAL $ / PUPA RESIDENTIAL COMBINED
REFERENCE
Administrative - - - -
Conventions and Meetings - - - - 34
Management Consultants - - - - 35
Advertising and Marketing - - - - 36
Office Salaries (Project Share) - - - - 39
Office Rent and Expenses (Incld. Phone) - - - - 37,38,40,41,43
Management Fee (Max. 5% EGI) #DIV/0! - - - - 44
Manager or Leasing Agent - - - - 45
Administrative Rent-Free / Reduced Unit - - - - 46
Audit and Legal Expenses (Project Share) - - - - 47,48,49
Administrative / Misc. - - - - 50,51
Maintenance - - - -
Decorating and Painting - - - - 67,75
Supplies (Grounds Maint ./ Janitorial / Etc. ) - - - - 65,66
Repairs and Maint. (HVAC / Electrical / Plumbing) - - - - 71,72,74,77,81
Elevator Maint. / Service Contract - - - - 73
Exterminating - - - - 70,64
Vehicle Equipment Operation & Repair - - - - 83
Lobby and Common Areas - - - - 63,69
Misc. Operating and Maintenance - - - - 84
Operating and Other - - - -
Fuel (Gas / Oil ) - - - - 53,56
Electricity - - - - 54
Water and Sewer - - - - 55,57
Garbage and Trash Removal - - - - 78
Snow Removal - - - - 82
Property and Liability Insurance - - - - 88
Fidelity Bond Insurance - - - - 89
Worker's Compensation - - - - 90
Payroll (Maint., Security, Janitorial, Etc.) - - - - 59,60,61
Payroll Taxes - - - - 87
Health Insurance and Other Benefits - - - - 91
Misc.Taxes, Licenses, Permits and Insurance - - - - 92
Security Contract/s - - - - 79,80
Total ADMIN, MAINT. And OPERATING - - - -
Other - - - - 93,96
Capital (Replacement) Reserve - - - - 104
Sub-Total (Incld. RESERVES) - - - -
Real Estate Taxes - - - - 86
TOTAL ANNUAL EXPENSES - - - -
D:\Docstoc\Working\pdf\a7a7eba4-09d7-4ef3-ac68-ec0fcf0fbbb7.xls \ Expenses Summary 41 of 48
Version 1: 2008
Exhibit 4.3 - CASH FLOW Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
INCOME 1 2 3 4 5
[ Net of Vacancy Losses ] Vac. % Growth % 0 1 2 3 4
RESIDENTIAL - Qualified / Afford. #DIV/0! 2.0% - - - - -
RESIDENTIAL - Market Rate 10.0% 2.0% - - - - -
Other 20.0% 2.0% - - - - -
EFFECTIVE GROSS INCOME (EGI) $ - $ - $ - $ - $ -
EXPENSES Administrative 3.0% - - - - -
Maintenance 3.0% - - - - -
Operating and Other 3.0% - - - - -
Other 3.0% - - - - -
Capital (Replacement) Reserve 4.0% - - - - -
Real Estate Taxes / PILOT's 3.0% - - - - -
Sub Total: ANNUAL EXPENSES $ - $ - $ - $ - $ -
NPV Rate NOI $ - $ - $ - $ - $ -
$0 5.00% AFDS @ 1.15 $0 $0 $0 $0 $0
SCHEDULED ANNUAL DEBT SERVICE (ADS)
CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA 1st Mortg. Loan [ Taxable Bonds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA 1st Mortg. Loan [ Non-Bond Proceeds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA Next Steps Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD / HUD HOME Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Affordable Housing Program - FLEX $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Housing Trust Fund $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD / HUD CDBG Small Cities Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
ADS STOT. = 0 0 0 0 0
CASH FLOW AFTER DEBT SERVICE (CFADS) 0 0 0 0 0
PROJECT DSC = 0.00 0.00 0.00 0.00 0.00
EFFECTIVE DSC (w/Op-DSC Reserve) n/a n/a n/a n/a n/a
OPERATING / DEBT SERVICE / COVERAGE RESERVE
Required Financing Reserve NPV's Project Actual DSC > 0.00 0.00 0.00 0.00 0.00
For 1.0 DSC 0 BALANCE (B.O.Y.) 0 0 0 0 0
For 1.0 - 1.15 DSC 0 OUTFLOWS (for 1.00 DSC) 0 0 0 0 0
TOTAL RESERVE $0 5.00% 0 0 0 0 0
Paid INTO Reserve 0 0 0 0 0
Required Next Steps Reserve NPV's BALANCE (E.O.Y.) 0 0 0 0 0
For 1.0 DSC 0 Economic Coverage (1.00 to 1.15 DSC) 0 0 0 0 0
For 1.0 - 1.05 DSC 0 Economic Coverage (1.00 to 1.05 DSC) 0 0 0 0 0
TOTAL RESERVE $0 EFFECTIVE NOI 0 0 0 0 0
EFFECTIVE DSC n/a n/a n/a n/a n/a
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Version 1: 2008
Exhibit 4.3 - CASH FLOW Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
INCOME 6 7 8 9 10
[ Net of Vacancy Losses ] Vac. % Growth % 5 6 7 8 9
RESIDENTIAL - Qualified / Afford. #DIV/0! 2.0% - - - - -
RESIDENTIAL - Market Rate 10.0% 2.0% - - - - -
Other 20.0% 2.0% - - - - -
EFFECTIVE GROSS INCOME (EGI) $ - $ - $ - $ - $ -
EXPENSES Administrative 3.0% - - - - -
Maintenance 3.0% - - - - -
Operating and Other 3.0% - - - - -
Other 3.0% - - - - -
Capital (Replacement) Reserve 4.0% - - - - -
Real Estate Taxes / PILOT's 3.0% - - - - -
Sub Total: ANNUAL EXPENSES $ - $ - $ - $ - $ -
NPV Rate NOI $ - $ - $ - $ - $ -
$0 5.00% AFDS @ 1.15 $0 $0 $0 $0 $0
SCHEDULED ANNUAL DEBT SERVICE (ADS)
CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA 1st Mortg. Loan [ Taxable Bonds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA 1st Mortg. Loan [ Non-Bond Proceeds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA Next Steps Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD / HUD HOME Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Affordable Housing Program - FLEX $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Housing Trust Fund $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD / HUD CDBG Small Cities Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
ADS STOT. = 0 0 0 0 0
CASH FLOW AFTER DEBT SERVICE (CFADS) 0 0 0 0 0
PROJECT DSC = 0.00 0.00 0.00 0.00 0.00
EFFECTIVE DSC (w/Op-DSC Reserve) n/a n/a n/a n/a n/a
OPERATING / DEBT SERVICE / COVERAGE RESERVE
Required Financing Reserve NPV's Project Actual DSC > 0.00 0.00 0.00 0.00 0.00
For 1.0 DSC 0 BALANCE (B.O.Y.) 0 0 0 0 0
For 1.0 - 1.15 DSC 0 OUTFLOWS (for 1.00 DSC) 0 0 0 0 0
TOTAL RESERVE $0 5.00% 0 0 0 0 0
Paid INTO Reserve 0 0 0 0 0
Required Next Steps Reserve NPV's BALANCE (E.O.Y.) 0 0 0 0 0
For 1.0 DSC 0 Economic Coverage (1.00 to 1.15 DSC) 0 0 0 0 0
For 1.0 - 1.05 DSC 0 Economic Coverage (1.00 to 1.05 DSC) 0 0 0 0 0
TOTAL RESERVE $0 EFFECTIVE NOI 0 0 0 0 0
EFFECTIVE DSC n/a n/a n/a n/a n/a
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Version 1: 2008
Exhibit 4.3 - CASH FLOW Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
INCOME 11 12 13 14 15
[ Net of Vacancy Losses ] Vac. % Growth % 10 11 12 13 14
RESIDENTIAL - Qualified / Afford. #DIV/0! 2.0% - - - - -
RESIDENTIAL - Market Rate 10.0% 2.0% - - - - -
Other 20.0% 2.0% - - - - -
EFFECTIVE GROSS INCOME (EGI) $ - $ - $ - $ - $ -
EXPENSES Administrative 3.0% - - - - -
Maintenance 3.0% - - - - -
Operating and Other 3.0% - - - - -
Other 3.0% - - - - -
Capital (Replacement) Reserve 4.0% - - - - -
Real Estate Taxes / PILOT's 3.0% - - - - -
Sub Total: ANNUAL EXPENSES $ - $ - $ - $ - $ -
NPV Rate NOI $ - $ - $ - $ - $ -
$0 5.00% AFDS @ 1.15 $0 $0 $0 $0 $0
SCHEDULED ANNUAL DEBT SERVICE (ADS)
CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA 1st Mortg. Loan [ Taxable Bonds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA 1st Mortg. Loan [ Non-Bond Proceeds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA Next Steps Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD / HUD HOME Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Affordable Housing Program - FLEX $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Housing Trust Fund $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD / HUD CDBG Small Cities Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
ADS STOT. = 0 0 0 0 0
CASH FLOW AFTER DEBT SERVICE (CFADS) 0 0 0 0 0
PROJECT DSC = 0.00 0.00 0.00 0.00 0.00
EFFECTIVE DSC (w/Op-DSC Reserve) n/a n/a n/a n/a n/a
OPERATING / DEBT SERVICE / COVERAGE RESERVE
Required Financing Reserve NPV's Project Actual DSC > 0.00 0.00 0.00 0.00 0.00
For 1.0 DSC 0 BALANCE (B.O.Y.) 0 0 0 0 0
For 1.0 - 1.15 DSC 0 OUTFLOWS (for 1.00 DSC) 0 0 0 0 0
TOTAL RESERVE $0 5.00% 0 0 0 0 0
Paid INTO Reserve 0 0 0 0 0
Required Next Steps Reserve NPV's BALANCE (E.O.Y.) 0 0 0 0 0
For 1.0 DSC 0 Economic Coverage (1.00 to 1.15 DSC) 0 0 0 0 0
For 1.0 - 1.05 DSC 0 Economic Coverage (1.00 to 1.05 DSC) 0 0 0 0 0
TOTAL RESERVE $0 EFFECTIVE NOI 0 0 0 0 0
EFFECTIVE DSC n/a n/a n/a n/a n/a
D:\Docstoc\Working\pdf\a7a7eba4-09d7-4ef3-ac68-ec0fcf0fbbb7.xls \ Cash Flow 44 of 48
Version 1: 2008
Exhibit 4.3 - CASH FLOW Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
INCOME 16 17 18 19 20
[ Net of Vacancy Losses ] Vac. % Growth % 15 16 17 18 19
RESIDENTIAL - Qualified / Afford. #DIV/0! 2.0% - - - - -
RESIDENTIAL - Market Rate 10.0% 2.0% - - - - -
Other 20.0% 2.0% - - - - -
EFFECTIVE GROSS INCOME (EGI) $ - $ - $ - $ - $ -
EXPENSES Administrative 3.0% - - - - -
Maintenance 3.0% - - - - -
Operating and Other 3.0% - - - - -
Other 3.0% - - - - -
Capital (Replacement) Reserve 4.0% - - - - -
Real Estate Taxes / PILOT's 3.0% - - - - -
Sub Total: ANNUAL EXPENSES $ - $ - $ - $ - $ -
NPV Rate NOI $ - $ - $ - $ - $ -
$0 5.00% AFDS @ 1.15 $0 $0 $0 $0 $0
SCHEDULED ANNUAL DEBT SERVICE (ADS)
CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA 1st Mortg. Loan [ Taxable Bonds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA 1st Mortg. Loan [ Non-Bond Proceeds ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
CHFA Next Steps Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD / HUD HOME Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Affordable Housing Program - FLEX $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Housing Trust Fund $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD / HUD CDBG Small Cities Funds $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
DECD Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
Other [ Specify ] $0 Pay Rate ADS 0 0 0 0 0
Term (Yrs.) > 30 DSC n/a n/a n/a n/a n/a
Contract Rate > 4.00% Bal. (E.O.Y.) 0 0 0 0 0
ADS STOT. = 0 0 0 0 0
CASH FLOW AFTER DEBT SERVICE (CFADS) 0 0 0 0 0
PROJECT DSC = 0.00 0.00 0.00 0.00 0.00
EFFECTIVE DSC (w/Op-DSC Reserve) n/a n/a n/a n/a n/a
OPERATING / DEBT SERVICE / COVERAGE RESERVE
Required Financing Reserve NPV's Project Actual DSC > 0.00 0.00 0.00 0.00 0.00
For 1.0 DSC 0 BALANCE (B.O.Y.) 0 0 0 0 0
For 1.0 - 1.15 DSC 0 OUTFLOWS (for 1.00 DSC) 0 0 0 0 0
TOTAL RESERVE $0 5.00% 0 0 0 0 0
Paid INTO Reserve 0 0 0 0 0
Required Next Steps Reserve NPV's BALANCE (E.O.Y.) 0 0 0 0 0
For 1.0 DSC 0 Economic Coverage (1.00 to 1.15 DSC) 0 0 0 0 0
For 1.0 - 1.05 DSC 0 Economic Coverage (1.00 to 1.05 DSC) 0 0 0 0 0
TOTAL RESERVE $0 EFFECTIVE NOI 0 0 0 0 0
EFFECTIVE DSC n/a n/a n/a n/a n/a
D:\Docstoc\Working\pdf\a7a7eba4-09d7-4ef3-ac68-ec0fcf0fbbb7.xls \ Cash Flow 45 of 48
Version 1: 2008
Exhibit 5.3 - DEVELOPMENT BUDGET Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
TAX CREDIT ELIGIBLE BASIS FINANCE PLAN
% BUDGET 70% NPV - 9% or 30% NPV - 4%
30% NPV - 4% Exist. Building DECD HOME Other DECD
(New / Rehab.) Acquisition Credit
SITE & IMPROVEMENTS (Div. 1-16) Hard Costs 0 0 N/A
GENERAL REQUIREMENTS (Max. 4% Site + Improvements) #DIV/0! 0 0 N/A
OVERHEAD and PROFIT ( Max. 12% Site + Improverments) #DIV/0! 0 0 N/A
BOND PREMIUM / L.O.C. COST 0 0 N/A
BUILDING PERMITS and OTHER DEVELOPMENT FEES 0 0 N/A
CONSTRUCTION (Form 2328) Sub-Total 0 0 N/A 0 0
Other 0 N/A
Other 0 N/A
Other 0 N/A
CONSTRUCTION CONTINGENCY (% Const. >) #DIV/0! 0 N/A
CONSTRUCTION 0 0 N/A 0 0
ARCHITECT - Design 0 N/A
ARCHITECT - Contract Admin (Min. 35%) (% Contract > ) #DIV/0! 0 N/A
ENGINEERING (Civil-Site / Stuctural / Etc.) 0 N/A
SURVEYS 0 N/A
Other 0 N/A
Other 0 N/A
Other 0 N/A
Other 0 N/A
ARCHITECTURAL and ENGINEERING 0 0 N/A 0 0
INTEREST (CHFA) - Const. + 2 Mos.Lease Up 0 N/A
CHFA PERM LOAN ORIG. / COMMIT. FEE #DIV/0! N/A N/A
INTEREST - Bridge Loan 0 N/A
FEES - Bridge Loan 0 N/A
R. E. TAXES / PILOTS - Const. Period 0 N/A
INSURANCE - Const. Period ( Builder's Risk / Liability / Hazard ) 0 N/A
UTILITIES - Const. Period ( If Owner Paid ) 0 N/A
Negative Arbitrage on Bonds (If Applic.) N/A N/A
Credit Enhancement Premium (HUD or Private Perm. Mortg. Insur.) N/A N/A
Other 0 N/A
Other 0 N/A
CHFA CONSTRUCTION OBSERVATION 0 N/A
FINANCE and INTERIM COSTS 0 0 N/A 0 0
Legal Counsel - Real Estate 0 N/A
Title Insur. Premiums & Recording Costs 0 N/A
Appraisals/Market Study (CHFA /LIHTC/DECD Required) 0 N/A
Lease Up & Marketing ($'s / Resid. Unit ) N/A N/A
Cost Certifications(CHFA/LIHTC/DECD Required) N/A N/A
ENVIRONMENTAL REPORTS and TESTING 0 N/A
Other 0 N/A
Other 0 N/A
Other 0 N/A
SOFT COST CONTINGENCY (5% Max.) (A&E+FIN+SOFT %) 0.0% 0 N/A
SOFT COSTS - Fees & Expenses 0 0 N/A 0 0
TOTAL DEVELOPMENT COSTS (TDC) 0 0 N/A 0 0
DEVELOPER ALLOWANCE / FEE (Max.15% TDC) 0.0% 0 N/A
PRE-DEVEL. FINANCING (Interest) COSTS [ Lender-Approved ] N/A N/A
Land Cost N/A N/A
Existing Building/s N/A 0
SITE ACQUISITION (Appraised "As Is" Value) 0 0 N/A 0 0
Operating / Debt Serv./ Coverage 0 N/A N/A N/A N/A
Capital / Replacement N/A N/A N/A N/A
Other N/A N/A
CAPITALIZED RESERVES 0 N/A N/A 0 0
RECOGNIZED LENDING COSTS 0 0 0 0 0
Entity Organizational and Legal N/A N/A
Syndicator Fees / Commissions N/A N/A
Equity Bridge Loan Interest and Fees N/A N/A
Tax Opinion and Entity Accounting N/A N/A
CHFA Tax Credit Fee (8% Ann. Credit) #DIV/0! N/A N/A
CHFA LIHTC Applic. Fee N/A N/A
Other N/A N/A
ENTITY and SYNDICATION COSTS / OTHER 0 0 N/A 0 0
TOTAL USES 0 0 0 0 0
Non-Construction Cost Percentage #DIV/0!
Developer CHFA / DECD
Signature Date Signature Date
Name Title Name Title
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Version 1: 2008
Exhibit 5.5 - LIHTC CALCULATION Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
NON-LIHTC SOURCES
Debt Sources Equity Sources
CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ] 0 DECD / HUD HOME Funds 0
CHFA 1st Mortg. Loan [ Taxable Bonds ] 0 DECD Affordable Housing Program - FLEX 0
CHFA 1st Mortg. Loan [ Non-Bond Proceeds ] 0 DECD Housing Trust Fund 0
CHFA Next Steps Funds 0 DECD / HUD CDBG Small Cities Funds 0
DECD / HUD HOME Funds 0 DECD Other [ Specify ] 0
DECD Affordable Housing Program - FLEX 0 Other Public Funds [ Specify ] 0
DECD Housing Trust Fund 0 Federal Historic Tax Credit Net Proceeds 0
DECD / HUD CDBG Small Cities Funds 0 CT HTCC Tax Credit Proceeds 0
DECD Other [ Specify ] 0 Developer / Investor Cash Equity (b) 0
Other [ Specify ] 0 Deferred Developer Fee [c] 0
Other [ Specify ] 0 Homeownership Sales Proceeds 0
Other [ Specify ] 0 Other [ Specify ] 0
Other [ Specify ] 0 Other [ Specify ] 0
Other [ Specify ] 0
Sub-Total 0 Sub-Total 0
Total Non-LIHTC Sources 0
CREDIT CALCULATION
New / Rehab Acquisition
(Use Table 4: 70% PV = 9% rate, 30% NPV = 4% rate) Credit NPV of AFR % = LIHTC Rates TOTALS
TAX CREDIT ELIGIBLE BASIS $0 $0 $0
LESS: BASIS ADJUSTMENTS $0
Non-Qualified Non-Recourse Financing N/A $0
Non-Qualifying units of higher quality N/A $0
Non-Qual. excess portion of higher qual. units N/A $0
Fed. Historic Tax Credits (Resid. Portion) N/A $0
Other N/A $0
Other N/A $0
PLUS: QCT / DDA INCREMENT n/a N/A n/a
ADJUSTED ELIGIBLE BASIS $0 $0 $0
X the Applicable Fraction (%) #DIV/0! #DIV/0!
TOTAL QUALIFIED BASIS #DIV/0! #DIV/0! #DIV/0!
ELIGIBLE Credit from QUALIFIED BASIS #DIV/0! #DIV/0! #DIV/0!
LIHTC EQUITY GAP > $0
ALLOWABLE Credit from GAP ANALYSIS > #DIV/0!
MAX. ANNUAL CREDIT AMOUNT (a) #DIV/0!
Annual Credits Per Unit #DIV/0!
Equity Raise ($ Yield / $1.00)
ESTIM. LIHTC NET PROCEEDS #DIV/0!
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Version 1: 2008
Exhibit 5.6 - SOURCES OF FUNDS Submission Date:
DEVELOPMENT NAME 0 APPLICANT 0
Construction Permanent Grant
EQUITY CAPITAL, GRANTS, Etc. Sources Sources [Y] or [N]
DECD / HUD HOME Funds
DECD Affordable Housing Program - FLEX
DECD Housing Trust Fund
DECD / HUD CDBG Small Cities Funds
DECD Other [ Specify ]
Other Public Funds [ Specify ]
Federal LIHTC Net Proceeds 0 N/A
Federal Historic Tax Credit Net Proceeds N/A
CT HTCC Tax Credit Proceeds N/A
Developer / Investor Cash Equity (b) N/A
Deferred Developer Fee [c] N/A
Homeownership Sales Proceeds N/A
Other [ Specify ]
Other [ Specify ]
Other [ Specify ]
Sub-Total $0 $0
Construction Permanent Perm. Perm. Const. Fully Deferred Scheduled
Sources Sources Loan Interest Interest Amortizing PMT Loan Debt Financing Notes
FINANCING [Sources w/ Notes and Mortgages ] Amort. [Yrs.] Rate Rate [Y] or [N] [Y] or [N] Service
CHFA Loan 1st Mortg. Loan [ Tax-Exempt Bonds ] 30 4.000% N/A $0
CHFA 1st Mortg. Loan [ Taxable Bonds ] 30 4.000% N/A $0
CHFA 1st Mortg. Loan [ Non-Bond Proceeds ] 30 4.000% N/A $0
CHFA Next Steps Funds 30 4.000% $0
DECD / HUD HOME Funds 30 4.000% $0
DECD Affordable Housing Program - FLEX 30 4.000% $0
DECD Housing Trust Fund 30 4.000% $0
DECD / HUD CDBG Small Cities Funds 30 4.000% $0
DECD Other [ Specify ] 30 4.000% $0
Other [ Specify ] 30 4.000% $0
Other [ Specify ] 30 4.000% $0
Other [ Specify ] 30 4.000% $0
Other [ Specify ] 30 4.000% $0
Sub-Total $0 $0 Total Scheduled Debt Service $0
TOTAL Sources $0 $0
Total Development Budget $0 $0
Sources LESS Uses $0 $0
(a) GRANTS: 3rd party sources for which no repayment is expected or required from other sources. Soft Debt: 3rd party sources secured by a mortgage and which may require partial or full repayment
(with or without interest) are considered financing and should be scheduled under the FINANCING section above.
(b) Intra-Entity ( LP, LLC, etc. ) loans to be repaid from approved Owner's Distributions are considered Developer / Investor Cash Equity.
(c) Deferred/Pledged Developer Fees ("DDF") are considered cash equity contributions. For transactions utilizing federal Low-Income Housing Tax Credits,
the amount of the DDF will be limited to a maximum of that which could be fully amortized from permitted Owner's Distributions at the Long-Term Applicable Federal Rate within the first ten (10)
years of operations. The Authority, at its sole discretion, may approve a DDF for less than the permitted maximum.
(d) For construction / interim sources not fully converting to permanent sources, provide information on proposed permanent "paydown" source/s including estimated paydown amount/s
and specific paydown terms and conditions as may be applicable.
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