Clinch View Manor

CLINCHVIEWMANOR
INSTRUCTIONS FOR THE

VIRGINIA 2010 LIHTC APPLICATION FOR RESERVATION
This application was prepared using Excel, Microsoft Office 2003. Please note that using the active Excel
workbook does not eliminate the need to submit the required PDF of the signed hardcopy of the application and
related documentation. A more detailed explanation of application submission requirements is provided
below and in the Application Manual.
An electronic copy of your completed application is a mandatory submission item.
Applications For 9% Competitive Credits

Applicants should submit an electronic copy of the application either on CD or by email, or both, prior to the
application deadline, which is 2:00 PM Richmond Virginia time on March 12, 2010. Failure to submit an electronic
copy of the application by the deadline will cause the application to be disqualified.
Applications For Tax Exempt Bond Credits

Applicants should submit an electronic copy of the application either on CD or by email, or both, at the at the time
of application submission. Applications will not be processed until an electronic copy is received.
NEW in 2010
Applicants should submit all application materials in electronic format only beginning in 2010
There should be 6 distinct files saved to 1 or more CDs and should include the following:
1. Application For Reservation – the active Microsoft Excel workbook
2. A PDF file which includes the following:
- Application For Reservation – Signed version of hardcopy
- All application attachments (i.e. tab documents, excluding market study and plans & specs)
3. Market Study – PDF or Microsoft Word format
4. Plans - PDF or other readable electronic format
5. Specifications - PDF or other readable electronic format (may be combined into the same file as the plans if
necessary)
6. Unit-By-Unit work write up (rehab only) - PDF or other readable electronic format
Notes: -Do not submit any files on a flash drive.
-Do not submit any application materials via TaxCreditApps@VHDA.com or to any email address
unless
Disclaimer:
VHDA assumes no responsibility for any problems incurred in using this spreadsheet or for the
accuracy of the calculations. Check your application for correctness and completeness before
submitting the application to VHDA.
Entering Data:
Enter numbers or text as appropriate in the blank spaces highlighted in yellow. All other cells are
protected and will not allow any changes. The format for cells has been set to accept text, currency,
percentages, etc. as appropriate. Enter any number without commas or dollar signs. Enter
percentages beginning with a decimal point. There is no text wrap-around feature, so care must be
taken to enter text so that it does not extend beyond the right margin of the page. Enter in only enough
text to fill one line and then drop to the first yellow cell of the next line. Each page of the application is a
separate sheet in the spreadsheet. The spreadsheet contains numerous error checks which are
designed to assist you in identifying potential mistakes in your application. Please note that these may
appear as you enter data because many are dependent on entries later in the application. Do not be
concerned with these messages until all data has been entered. Also note that some cells contain
error messages such as "#DIV/0!" before you begin. These warnings will disappear as you enter
numbers necessary to complete the application.
Assistance:
If you have any questions, please call Jim Chandler at (804) 343-5786, Dale Wittie at (804)
343-5876, Cara Wallo at (804) 343-5714, Jaynell McFarland at (804) 343-5733 or Debbie Griner
at (804) 343-5518. Please note that we cannot release the copy protection password.
Staff email addresses:

jim.chandler@vhda.com - dale.wittie@vhda.com
cara.wallo@vhda.com - jaynell.pittman-shaw@vhda.com - debbie.griner@vhda.com
v12.31.09 Instructions
2010 Feder al L ow I ncome Housing
Tax Cr edit Pr ogr am
Application For Reser vation
Deadline for Submission
9% Competitive Credits
Applications Must Be Received At VHDA No Later Than 2:00 PM
Richmond, VA Time On March 12, 2010
Tax Exempt Bonds

Applications should be received at VHDA at least one month
before the bonds are priced (if bonds issued by VHDA), or 75
days before the bonds are issued (if bonds are not issued by
VHDA)
Virginia Housing Development Authority

601 South Belvidere Street
Richmond, Virginia 23220-6500
v12.31.09
L ow I ncome Housing Tax Cr edit Application for Reser vation
Please indicate if the following items are included with your application by checking the appropriate boxes. Your
assistance in organizing the submission in the following order, and actually using tabs to mark them as shown, will
facilitate review of your application. Please note that all mandatory items must be included for the application to be
processed. The inclusion of other items may increase the number of points for which you are eligible under VHDA's
point system of ranking applications, and may assist VHDA in its determination of the appropriate amount of credits that
Electronic Copy of the Microsoft Excel Based Application (M ANDATORY)

Scanned Copy of the Signed Tax Credit Application with Attachments (excluding market study and plans & specs) (M
Electronic Copy of the Market Study (M ANDATORY-Application will be disqualified if study not submitted with app
Electronic Copy of the Plans (M ANDATORY)
Electronic Copy of the Specifications (M ANDATORY)
Electronic Copy of the Unit By Unit Work Writeup (M ANDATORY if r ehab)
$750 Application Fee (M ANDATORY )
Tab A: Documentation of Development Location:
A.1 Qualified Census Tract Certification
A.2 Revitalization Area Certification
Location Map
Surveyor's Certification of Proximity To Public Transportation
Tab B: Partnership or Operating Agreement, including chart of ownership structure with percentage of interests (M AN
Tab C: Virginia State Corporation Commission Certification (M ANDATORY)
Tab D: Principal's Previous Participation Certification and Resumé (M ANDATORY)
Tab E: Nonprofit Questionnaire (M ANDATORY for points or pool)
The following documents need not be submitted unless requested by VHDA:
-Nonprofit Articles of Incorporation -IRS Documentation of Nonprofit Status
-Joint Venture Agreement (if applicable) -For-profit Consulting Agreement (if applicable)
Tab F: Architect's Certification (M ANDATORY)
Tab H: PHA / Section 8 Notification Letter
Tab I: Local CEO Letter
Tab J: Homeownership Plan
Tab K: Site Control Documentation & Most Recent Real Estate Tax Assessment (M ANDATORY)
Tab L: Plan of Development Certification Letter
Tab M: Zoning Certification Letter
Tab N: Copies of 8609s To Certify Developer Experience
Tab O: (Reserved)
Tab P: Plans and Specifications and Work Write-Up (M ANDATORY)
Tab Q: Documentation of Rental Assistance
Tab R: Documentation of Operating Budget
Tab S: Documentation of Project Budget
Tab T: Documentation of Financing Sources
Tab U:
Documentation To Request Exception To Restriction-Pools With Little/No Increase In Rent Burdened Populati
Documentation of site location in an urban development area as defined in §15.2-2223.1of the Code of Virginia
Documentation of the development participating in a locally adopted affordable housing dwelling unit program
described in either §15.2-2304 or §15.2-2305 of the Code of Virginia
Tab V: Nonprofit or LHA Purchase Option or Right of First Refusal
Tab W: Attorney's Opinion (M ANDATORY)
Tab X: (Reserved)
Tab Y: Marketing Plan for units meeting accessibility requirements of HUD section 504
v12.31.09 Submission Checklist

L ow-I ncome Housing Tax Cr edit Application For Reser vation
VHDA TRACK I NG NUM BER 2010-C-98

I. Gener al I nfor mation
All code "Section" references are to, and the term "IRC" shall be deemed to mean, March 11, 2010
the Internal Revenue Code of 1986, as amended. (Date of Application)
A. Development Name and L ocation:

1. Name of Development Clinch View Manor Apartments
2. Address of Development 134 Jay Street
(Street)
Gate City Virginia 24251
(City) (State) (Zip Code)
3. If complete address is not available, provide longitude and latitude coordinates (x,y) from
location on site your surveyor deems appropriate.
Documentation from surveyor attached (TAB A) (Only necessary if street address or street intersections are not availab
(Coordinates should be the same as those listed on pg 13, if applicable
4. The Circuit Court Clerk's office in which the deed to the property is or will be recorded:
City/County of Scott County (ie; Richmond City, Chesterfield County; see application manual)
5. Does the site overlap one or more jurisdictional boundaries? Yes No
If yes, what other City/County is the site located in besides the one mentioned above? Town of Gate City
6. Census Tract the development is located in: 51 169 0301
Is this a Qualified Census Tract: Yes No (If yes, attach required form in TAB A)
7. Is the development located in a Difficult Development Area? No
8. Is the development located in a revitalization area? Yes No (If yes, attach required form in TAB A)
9. Is the development an existing RD or HUD S8/236 development? Yes No (If yes, attach required form in TAB Q)
Note to #9: If there is an identity of interest between the applicant and the seller in this proposal, and the applicant is seeking points in
this category, then the applicant must either waive their rights to the developer's fee or other fees associated with acquisition and/or
rehabilitation, or obtain a waiver of this requirement from VHDA prior to application submission to receive these points.
a. Applicant agrees to waive all rights to any developer's fee or
other fees associated with acquisition and/or rehab. Yes n/a
b. Applicant has obtained a waiver of this requirement from VHDA
prior to the application submission deadline. Yes n/a
10. Is the development located in a census tract with a poverty
rate <10% with no tax credit units currently present? Yes No
11. Is the development listed on the RD 515 Rehabilitation Priority List? Yes No
12. Is the proposed development located in an urban development area as defined in §15.2-2223.1of the Code of Virginia?
Yes No (If yes, attach required form in TAB U)
13. Will the proposed development participate in a locally adopted affordable housing dwelling unit program area as described in
either §15.2-2304 or §15.2-2305 of the Code of Virginia? Yes No (If yes, attach required form in TAB U)
14. Congressional District 9 http:/ / dlsgis.state.va.us/ congress/ 2001PDFs/ chap7Tab.pdf

Planning District 1 http:/ / www.vapdc.org/ aboutpdcs.htm#PDC%20Map
State Senate District 40 http:/ / dlsgis.state.va.us/ senate/ 2001PDFs/ Chap2Tab.pdf
State House District 1 http:/ / dlsgis.state.va.us/ House/ 2001HousePDFs/ Chap1Tab.pdf
15. Location Map Attached (TAB A)
B. Pr oj ect Descr iption:

In the space provided below, give a brief description of the proposed project.
Clinch View Manor is an existing Rural Development 42-unit elderly apartment complex which has project based rental assistance. Rehab of the comm
new flooring, new cabinets and countertops, new energy star appliances, new high efficiency heat pumps, new 2900 kilowatt-hours/month solar electric
energy star water heaters, and will result in EarthCraft certified units.
v12.31.09 Page 1
CLINCH VIEW MANOR
Description
Clinch View Manor is an existing Rural 515 42-unit elderly a t complex which has
proiect based rental assistance. Rehab of the community will include new roofs, new flooring, new
Cabinets and new star appliances, new hi heat oumos, new solar
Electric power supplying 16% of the project demand and will result in EarthCraft certified units.
L ow I ncome Housing Tax Cr edit Application For Reser vation
C. Reser vation Request
1. Total annual credit amount request (Must be the same as Part IX-D8) $233,579
2. Credits requested from:

9% Cr edits
Nonprofit Set-Aside (All nonprofit owned developments which meet tests
described in Part II-D hereof may select this)
Local Housing Authorities Richmond MSA Pool
Planning District 8 (Inner Washington MSA) PooTidewater MSA Pool
Northwest / North Central VA Area Pool Balance of State Pool (Remaining Geogr
Non-Competitive Pool (Preservation) Non-Competitive Pool (Disability)
Tax Exempt Bonds

new construction, or
rehabilitation, or
acquisition and rehabilitation.
Federal Subsidies
The development will not receive federal subsidies.
This development will receive federal subsidies for:

all buildings or
some buildings.
D. Type(s) of Allocation/Allocation Ye
1. Regular Allocation
All of the buildings in the development are expected to be placed
in service this year. For those buildings the owner will, this year, request an
allocation of 2008 credits for new construction, or
rehabilitation, or
acquisition and rehabilitation.
2. Carryforward Allocation
All of the buildings in the development are expected to be placed
in service within two years after the end of this calendar year, 2009, but the
owner will have more than 10% basis in the development before the end of six
months following allocation of credits. For those buildings, the owner requests
a carryforward allocation of 2009 credits pursuant to Section 42(h)(1)(E) for:
new construction, or
rehabilitation, or
acquisition and rehabilitation (even if you acquired a building this year and
"placed it in service" for the purpose of the acquisition credit, you cannot receive
the 8609 form for it until the rehab 8609 is issued for that building once the rehab
work is "placed in service" in 2010 or 2011).
3. Federal Subsidies
The development will not receive federal subsidies.
This development will receive federal subsidies for:
all buildings or
some buildings.
v12.31.09 Page 2
E. Acquisition Cr edit I nfor mation

NOTE: If no credits are being requested for existing buildings being acquired for the development,
so indicate and go on to Part F: No Acquisition
Ten-Year Rule For Acquisition Cr edits

All buildings satisfy the 10-year look-back rule of IRC Section 42 (d)(2)(B), including the
10% basis/$15,000.00 rehab costs ($10,000 for Tax Exempt Bonds) per unit requirement.
All buildings qualify for an exception to the 10-year rule under IRC Section 42(d)(2)(D)(i),
Subsection (I)
Subsection (II)
Subsection (III)
Subsection (IV)
Subsection (V)
The 10-year rule in IRC Section 42 (d)(2)(B) for all buildings does not apply pursuant to IRC Section 42(d)(6).
Different circumstances for different buildings: Attach a separate sheet and explain for each building.
F. Rehabilitation Cr edit I nfor mation
NOTE: If no credits are being requested for rehabilitation expenditures, so indicate and go
on to Section II. No Rehabilitation
M inimum Expenditur e Requir ements

All buildings in the development satisfy the rehab costs per unit requirement of IRC
Section 42(e)(3)(A)(ii).
All buildings in the development qualify for the IRC Section 42(e)(3)(B) exception to the
10% basis requirement (4% credit only).
All buildings in the development qualify for the IRC Section 42(f)(5)(B)(ii)(II) exception.
Different circumstances for different buildings. Attach a separate sheet and
explain for each building.
G. Request For Exception

The proposed new construction development (including adaptive reuse and rehabilitation that creates additiona
space) is subject to an assessment of up to minus 20 points for being located in a pool identified by the Authori
with little or no increase in rent burdened population. N/A - Does not apply to this proposed development.
Applicant seeks an exception to this restriction in accordance with one of the following provisions under 13VA
Proposed development is specialized housing designed to meet special needs that cannot readily be addr
utilizing existing residential structures. Documentation Attached (TAB U)
Proposed development is designed to serve as a replacement for housing being demolished through
redevelopment. Documentation Attached (TAB U)
Proposed development is housing that is an integral part of a neighborhood revitalization project sponso
v12.31.09
a local housing authority. Documentation Attached (TAB U) Page 3
I I . OWNERSHI P I NFORM ATI ON

NOTE: VHDA may allocate credits only to the tax-paying entity which owns the development at the time of the allocation. The term "Owner" herein refers to that
entity. Please fill in the legal name of the owner. The ownership entity must be formed prior to submitting this application. Any transfer, direct or indirect, of
partnership interests (except those involving the admission of limited partners) prior to the placed-in-service date of the proposed development shall be prohibited,
unless the transfer is consented to by VHDA in its sole discretion. IMPORTANT: The Owner name listed on this page must match exactly the owner
Must be an individual or legally formed entity
A. Owner I nfor mation:

Name Clinch View Manor Apartments, L.L.C.
Contact Person First: Robert MiddleGlass Last: Goldsmith
Address 1173 West Main Street
(Street)
Abingdon Virginia 24210
(City) (State) (Zip Code)
Federal I. D. No. not yet available (If not available, obtain prior to Allocation)
Phone 276 623 9000 Fax 276 628 2931 Email addr ess rgoldsmith@peoplelinc.net
Type of entity: Limited Partnership Other Limited Liability Company
Individual(s) Corporation
Owner's organizational documents (e.g. Partnership agreements & ownership structure chart) attached (M andator y TA
Certification from Virginia State Corporation Commission attached (M andator y TAB C)
Principal(s) involved (e.g. general partners, LLC members, controlling shareholders, etc.):
Names * * Phone Type Ownership % Ownership
People Incorporated Housing Group 276 623 9000 Managing Member 90.00%
Robert G. Goldsmith 0.00%
0.00%
People Incorporated of Virginia 276 623 9000 Special Member 10.00%
Robert G. Goldsmith 0.00%
0.00%
0.00%
This should be 100% of the GP or managing member interest: 100.00%
* * These should be the names of individuals who comprise the GP or managing members, not simply the names
separate partnerships or corporations which may comprise those components.
Principals' Previous Participation Certification attached (M andator y TAB D) & resumé.
B. Seller I nfor mation:

Name Clinch View Manor Limited Partnership Contact Person Bill Hunt
Address 100 Abingdon Place; Abingdon, VA 24211
Phone 276 628 5000
I s ther e an identity of inter est between the seller and owner /applicant? Yes No
If yes, complete the following:
Principal(s) involved (e.g. general partners, controlling shareholders, etc.)
Names Phone Type Ownership % Ownership
0.00%
0.00%
0.00%
0.00%
v12.31.09 Page 4
C. Development Team I nfor mation:

Complete the following as applicable to your development team.
1. Tax Attorney: Tom Thorne-Thomsen Related Entity? Yes No

Firm Name: Applegate & Thorne-Thomsen
Address: 322 South Green Street, Suite 412; Chicago, IL 60607
Phone: (312) 491-3324 Fax: (312) 421-6162
2. Tax Accountant: Mike Vicars Related Entity? Yes No

Firm Name: Dooley and Vicars
Address: 429 Strawberry Street; Richmond, VA 23220
Phone: (804) 355-2508 Fax: (804) 359-3897
3. Consultant: Related Entity? Yes No

Firm Name: Role:
Address:
Phone: Fax:
4. Management Entity (Contact): Bill Hunt Related Entity? Yes No

Firm Name: Hunt & Associates Elderly Housing, Inc.
Address: 100 Abingdon Place; Abingdon, VA 24211
Phone: (276) 628-5000 Fax: 276 628 5010
5. Contractor (Contact): Robert G. Goldsmith Related Entity? Yes No

Firm Name: People Incorporated of Virginia
Address: 1173 West Main Street; Abingdon, VA 24210
Phone: (276) 623-9000 Fax: 276 628 2931
6. Architect: James C. Bundy Related Entity? Yes No

Firm Name: Bundy A& E
Address: 321 West Main Street; Abingdon, VA 24210
Phone: (276) 628-1067 Fax: (276) 698-3088
7. Real Estate Attorney: Peter Curcio Related Entity? Yes No

Firm Name: Curcio and Stout, P.C.
Address: 600 Commonwealth Avenue; Bristol, VA 24202
Phone: (276) 466-3377 Fax: (276) 669-4032
8. Mortgage Banker: Related Entity? Yes No

Firm Name:
Address:
Phone: Fax:
9. Other (Contact): Related Entity? Yes No

Firm Name: Role:
Address:
Phone: Fax:
v12.31.09 Page 5
D. Nonpr ofit I nvolvement:
Applications For 9% Credits - Must be completed in order to compete in the nonprofit tax credit pool.
All Applicants - Must be completed for points for nonprofit involvement under the ranking system.
Tax Cr edit Nonpr ofit Pool Applicants: To qualify for the nonprofit pool, an organization described in IRC Section 501
(c)(3) or 501 (c)(4) and exempt from taxation under IRC Section 501 (a), whose purposes include the fostering of low-income housing:
1. Must "materially participate" in the development and operation of the project throughout the compliance period,
2. Must own all general partnership interests in the development .
3. Must not be affiliated with or controlled by a for-profit organization.
4. Must not have been formed for the principal purpose of competition in the nonprofit pool, and
5. Must not have any staff member, or member of the nonprofit's board of directors materially participate in the proposed project
as a for-profit entity.
All Applicants: To qualify for points under the ranking system, the nonprofit's involvement need not necessarily
satisfy all of the requirements for participation in the nonprofit tax credit pool.
1. Nonprofit Involvement (All Applicants)

If there is no nonprofit involvement in this development, please indicate by checking here:
and go on to part III
2. Mandatory Questionnaire
If there is nonprofit involvement, you must complete the Non-Profit Questionnaire
Questionnaire attached (M andator y TAB E)
3. Type of involvement
Nonprofit meets eligibility requirement for points only, not pool or
Nonprofit meets eligibility requirements for nonprofit pool and points.
4. Identity of Nonprofit (All nonprofit applicants)

The nonprofit organization involved in this development is:
the Owner
the Applicant (if different from Owner)
Other
People Incorporated Housing Group
(Name of nonprofit)
Robert G. Goldsmith 1173 West Main Street
(Contact Person) (Street Address)
Abingdon Virginia 24210
(City) (State) (Zip code)
276 623 9000 276 628 2931
(Phone) (Fax)
5. Percentage of Nonprofit Ownership (All nonprofit applicants)

Specify the nonprofit entity's percentage ownership of the general partnership interest: 100.0%
v12.31.09 Page 6
I I I .DEVEL OPM ENT I NFORM ATI ON
A. Str uctur e and Units:

1. Total number of all units in development 42
Total number of r ental units in development 42 bedrooms 42
Number of low-income rental units 42 bedrooms 42
Percentage of rental units designated low-income 100.00%
2. The development's structural features are (check all that apply):
Row House/Townhouse Detached Single-family

Garden Apartments Detached Two-family
Slab on Grade Basement
Crawl space Age of Structure: 16
Elevator Number of stories 2
3. Number of new units 0 bedrooms 0
Number of adaptive reuse units 0 bedrooms 0
Number of rehab units 42 bedrooms 42
4. Total Floor Area For The Entire Development 34,468.64 (Sq. ft.)
5. Unheated Floor Area (Breezeways, Balconies, Storage) 3,363.86 (Sq. ft.)

6. Nonresidential Commercial Floor Area 0.00 (Sq. ft.)
(Not eligible for funding)
7. Total Usable Residential Heated Area 31,104.78 (Sq. ft.)
8. Number of Buildings (containing rental units) 1
9. Commercial Area Intended Use:
## Project consists primarily of a building(s) which is (CHOOSE ONL Y ONE)
Low-Rise (1-5 stories with any structural elements made of wood)

Mid-Rise (5-7 stories with no structural elements made of wood)
High-Rise (8 or more stories with no structural elements made of wood)
## a. Total Net Rental Square Feet 24,566.22

b. Percentage of Net Rentable Square Feet Deemed To Be New Rental S 0.00%
B. Building Systems:
Please describe each of the following in the space provided.
Community Facilities: On site office, laundry
Exterior Finish: Brick

Heating/AC System: HVAC
Architectural Style: Garden
v12.31.09 Page 7
C. Amenities:
1. Specify the average size per unit type: (I ncluding pr o r ata shar e of heated common ar ea)
Assisted Lvg 0.00 SF 1Bdrm Eld 740.59 SF 3-Bdrm Gar 0.00 SF
1-Sty-Eff-Eld 0.00 SF 2Bdrm Eld 0.00 SF 4-Bdrm Gar 0.00 SF
1-Sty 1BR-Eld 0.00 SF Eff-Gar 0.00 SF 2+Sty 2BR TH 0.00 SF
1-Sty 2BR-Eld 0.00 SF 1-Bdrm Gar 0.00 SF 2+Sty 3BR TH 0.00 SF
Eff-Eld 0.00 SF 2-Bdrm Gar 0.00 SF 2+Sty 4BR TH 0.00 SF
2. Total gross usable, heated square feet for the entire project less nonresidential commercial area:
31,104.78 Documentation attached (TAB F) M andator y
(Sq. ft.)
NOTE: All developments must meet VHDA's M inimum Design and Constr uction Requir ements.
By signing and submitting the Application For Reservation of Low Income Housing Tax Credits the
applicant certifies that the proposed project budget, plans & specifications and work write-ups incorporate
all necessary elements to fulfill these requirements.
3. Check the following items which apply to the proposed project:

Documentation attached (TAB F Architect Certification) M andator y
For any pr oj ect, upon completion of constr uction/r ehabilitation: (Optional Point items)
0% a(1)Percentage of 2-bedroom units that have 1.5 bathrooms
0% a(2)Percentage of 3 or more bedroom units that have 2 bathrooms
b. A community/meeting room with a minimum of 749 square feet is provided
100% c. Percentage of exterior walls covered by brick (excluding triangular gable ends, doors and window
d. All kitchen and laundry appliances meet the EPA's Energy Star qualified program requirements
e. All windows meet the EPA's Energy Star qualified program requirements
f. Every unit in the development is heated and cooled with either (i) heat pump equipment with bot
SEER rating of 15.0 or more and a HSPF rating of 8.5 or more , or (ii) air conditioning equipmen
with a SEER rating of 15.0 or more, combined with gas furnaces with an AFUE rating of 90% or
more
g. Water expense is sub-metered (the tenant will pay monthly or bi-monthly bill)
h. Each bathroom consists only of low-flow faucets (2.2 gpm max.) and showerheads (2.5gpm max
i. Provide necessary infrastructure in all units for high speed cable, DSL or wireless internet sevice
j. All water heaters meet the EPA's Energy Star qualified program requirements.
k. Every unit in the development will be heated and cooled with a geothermal heat pump that meets
EPA Energy Star qualified program requirements.
l. The development will have a solar electric system that will remain unshaded year round, be orien
to within 15 degrees of true south, and be angled horizontally within 15 degrees of latitude.
Expected Total Electrical Load (kilowatt hours per month): 18,060

Percent of Expected Load Offset By Solar Electric System: 16.00%
v12.31.09 Page 8
L ow I ncome Housing Tax Cr edit Application For Reser vation
For all pr oj ects exclusively ser ving elder ly and/or handicapped tenants, upon completion
of constr uction/r ehabilitation: (Optional Point items)
a. All cooking ranges will have front controls

b. All units will have an emergency call system
c. All bathrooms will have an independent or supplemental heat source
d. All entrance doors have two eye viewers, one at 48" and the other at standard height
For all r ehabilitation and adaptive r euse pr oj ects, upon completion of constr uction or
or r ehabilitation: (Optional Point items)
The structure is listed individually in the National Register of Historic Places or is

located in a registered historic district and certified by the Secretary of the Interior as
being of historical significance to the district, and the rehabilitation will be completed
in such a manner as to be eligible for historic rehabilitation tax credits
Accessibility
Check one or none of the following point categories, as appropriate:
For any non-elderly property in which the greater of 5 or 10% of the units will be subject to federal project-based rent
subsidies or equivalent assistance in order to ensure occupancy by extremely low-income persons; and (ii) the greater of 5
units or 10% of the units will conform to HUD regulations interpreting accessibility requirements of section 504 of the
Rehabilitation Act; and be actively marketed to people with special needs in accordance with a plan submitted as part of t
Application. (All of the units described in (ii) above must include roll-in showers and roll under sinks and front controls fo
ranges, unless agree to by the Authority prior to the applicant's submission of its application).
For any non-elderly property in which the greater of 5 or 10% of the units (i) have rents within HUD’ s Housing Choice
Voucher (“ HCV” ) payment standard; (ii) conform to HUD regulations interpreting accessibility requirements of section 5
the Rehabilitation Act; and (iii) are actively marketed to people with mobility impairments, including HCV holders, in
accordance with a plan submitted as part the Application.
For any non-elderly property in which at least four percent (4%) of the units conform to HUD regulations interpretin
accessibility requirements of section 504 of the Rehabilitation Act and are actively marketed to people with mobility
impairments in accordance with a plan submitted as part of the Application.
Ear thcr aft or L EED Development Cer tification

Applicant agrees to obtain Earthcraft or LEED certification prior to issuance of IRS Form 8609. Architect
certifies in the Architect Certification that the development's design will meet the criteria for such certification.
Yes - Ear thcr aft Yes - L EED
If Yes to either, attach appropriate documentation at TAB F
Univer sal Design - Units Meeting Universal Design Standards

a. The architect of record certifies that units will be constructed to meet VHDA's Universal Design standards.
Yes No If Yes, attach appropriate documentation at TAB F
b. Number of Rental Units constructed to meet VHDA's Universal Design standards:
42 Units 100%
VHDA Cer tified Pr oper ty M anagement Agent

Owner agrees to use a VHDA Certified Property Management Agent to manage the property.
Yes No
Yes No N/A The market-rate units' amenities are substantially equivalent to those of the
low-income units. If no, explain differences:
v12.31.09 Page 9
I V.TENANT I NFORM ATI ON
A. Set-Aside Election: UNI TS SEL ECTED BEL OW I N BOTH COL UM NS DETERM I NE

POI NTS FOR THE BONUS POI NT CATEGORY
Note: In order to qualify for any tax credits, a development must meet one of two minimum threshold occupancy tests. Either (i)
at least 20% of the units must be rent-restricted and occupied by persons whose incomes are 50% or less of the area median
income adjusted for family size (this is called the 20/50 test) or (ii) at least 40% of the units must be rent-restricted and occupied
by persons whose incomes are 60% or less of the area median income adjusted for family size (this is called the 40/60 test), all
as described in Section 42 of the IRC. Rent-and income-restricted units are known as low-income units. If you have more low-
income units than required, you qualify for more credits. If you serve lower incomes than required, you receive more points under
the ranking system.
Units Pr ovided Per Household Type:

I ncome L evels Rent L evels
# of Units % of Units # of Units % of Units
0 0.00% 40% Area Median 0 0.00% 40% Area Median
0 0.00% Non-LMI Units 0 0.00% Non-LMI Units
42 100.00% Total 42 100.00% Total
Note: Choosing 50% Rents/50% I ncome Will Not Scor e Higher Than Choosing 50% Rents/60% I ncome
B. Special Housing Needs/L easing Pr efer ence:
1. If 100% of the low-income units will be occupied by either or both of the following special needs
groups as defined by the United States Fair Housing Act, so indicate:
Yes Elderly (age 55 or above)
Yes Physically or mentally disabled persons (must meet the requirements of the federal
Americans with Disabilities Act)
2. Specify the number of low-income units that will serve individuals and families with children by
providing three or more bedrooms: 0 Number of units 0% of total low-income units
3. If the development has existing tenants, VHDA policy requires that the impact of economic and/or physical
displacement on those tenants be minimized, in which Owners agree to abide by the Authority's Relocation
Guidelines for LIHTC properties.
4. If leasing preference will be given to applicants on public housing waiting list and/or Section 8
waiting list, so indicate:
Yes
No
Locality has no such waiting list; If yes, provide the following information:
Organization which holds such waiting list: Scott County Redevelopment and Housing Authority
Contact person (Name and Title) Virginia Roach - Director
Phone Number (276) 431-2022 Requir ed documentation attached (TAB H)
5. If leasing preference will be given to individuals and families with children.

(Less than or equal to 20% of the units must have 1 or less bedrooms).
Yes
No
v12.31.09 Page 10
V. L OCAL NEEDS AND SUPPORT
Note: Please r efer to the Application M anual for specific instr uctions and deadlines for per taining to loca
notification of pr oposed L ow income Housing Tax Cr edit developments.
A. Pr ovide the name and the addr ess of the chief executive officer (City M anager , Town M anager , or
County Administr ator ) of the political j ur isdiction in which the development will be located:
Chief Executive Officer's Name Stephen Templeton
Chief Executive Officer's Title Town Manager
Street Address 156 E. Jackson Street Phone (276) 386-3831
City Gate City State VA Zip 24251
Name and title of local official you have discussed this project with who could answer questions for the
local CEO: Stephen Templeton, Town Manager
I f the pr oper ty over laps another j ur isdiction please fill in the following:
Chief Executive Officer's Name Rufus Hood
Chief Executive Officer's Title County Administrator
Street Address 336 Water Street Phone (276) 386-6521
City Gate City State VA Zip 24251
Name and title of local official you have discussed this project with who could answer questions for the
local CEO: Stephen Templeton, Town Manager
B. Pr oj ect Schedule
ACTUAL OR NAM E OF
ACTI VI TY ANTI CI PATED PERSON
DATE RESPONSI BL E
Site
Option/Contract March, 2010 Robert G. Goldsmith
Site Acquisition November, 2010 Robert G. Goldsmith
Zoning Approval February, 2010 Jen Surber
Site Plan Approval March, 2010 James C. Bundy
Financing
A. Constr uction L oan
Loan Application August, 2010 Jen Surber
Conditional Commitment September, 2010 Jen Surber
Firm Commitment February, 2011 Jen Surber
B. Per manent L oan - Fir st L ien
Loan Application December, 2010 Jen Surber
Conditional Commitment January, 2011 Jen Surber
Firm Commitment March, 2011 Jen Surber
C. Per manent L oan-Second L ien
Loan Application December, 2010 Jen Surber
Conditional Commitment January, 2011 Jen Surber
Firm Commitment February, 2011 Jen Surber
D. Other L oans & Gr ants
Type & Source, List
Application July, 2010 Jen Surber
Award/Commitment February, 2011 Jen Surber
For mation of Owner May, 2009 Pete Curcio
I RS Appr oval of Nonpr ofit Status 2003 Robert G. Goldsmith
Closing and Tr ansfer of Pr oper ty to Owner November, 2010 Pete Curcio
Plans and Specifications, Wor king Dr awings January, 2011 James C. Bundy
Building Per mit I ssued by L ocal Gover nment February, 2011 Bryan Ailey
Star t Constr uction July, 2011 Bryan Ailey
Begin L ease-up October, 2012 Julia Dye
Complete Constr uction October, 2012 Bryan Ailey
Complete L ease-Up October, 2012 Julia Dye
Cr edit Placed in Ser vice Date October, 2012 Mike Rush
v12.31.09 Page 11
VI . SI TE CONTROL
Note: Site control by the Owner identified herein is a mandatory precondition of review of this application.
Documentary evidence of it, in the form of either a deed, option, purchase contract, or lease for a term longer than
the period of time the property will be subject to occupancy restrictions must be included herewith. (9%
Competitive Credits - An option or contract must extend beyond the application deadline by a minimum of
four months.)
Warning: Site control by an entity other than the Owner, even if it is a closely related party, is not sufficient.
Anticipated future transfers to the Owner are not sufficient. The Owner, as identified in Subpart II-A, must have
site control at the time this Application is submitted.
NOTE: If the Owner receives a reservation of credits, the property must be titled in the name of or leased by
(pursuant to a long-term lease) the Owner before the allocation of credits is made this year.
Contact us before you submit this application if you have any questions about this requirement.
A. Type of Site Contr ol by Owner :
Applicant controls site by (select one and attach document - M andator y TAB K )
Deed - attached
Long-term Lease - attached (expiration date: )
Option - attached (expiration date: 10/01/10 )
Purchase Contract - attached (expiration date: )
If more than one site for the development and more than one form of site control, please so indicate
and attach a separate sheet specifying each site, number of existing buildings on the site, if any,
type of control of each site, and applicable expiration date of form of site control. A site control
document is required for each site.
Most recent property tax assessment - M andator y TAB K
B. Timing of Acquisition by Owner :

Select one:
Owner already controls site by either deed or long-term lease or
Owner is to acquire property by deed (or lease for period no shorter than period property
will be subject to occupancy restrictions) no later th 11/01/10
If more than one site for the development and more than one expected date of acquisition by
Owner, please so indicate and attach separate sheet specifying each site, number of existing
buildings on the site, if any, and expected date of acquisition of each site by the Owner.
C. M ar ket Study Data:
Obtain the following information from the M ar ket Study conducted in connection with this tax credit application and enter below:
Project Wide Capture Rate - LIHTC Units 25.00%

Project Wide Capture Rate - Market Units 0.00%
Project Wide Capture Rate - All Units 25.00%
Project Wide Absorption Period (Months) 6
v12.31.09 Page 12
C. Site Descr iption
1. Exact area of site in acres 4.000
2. Has locality approved a final site plan or plan of development?

Yes No
Requir ed documentation for m attached (TAB L )
3. Is site properly zoned for the proposed development?

Yes No
Requir ed documentation for m attached (TAB M)
4. Will the proposal seek to qualify for points associated with proximity to public transportation?
Yes No
Requir ed documentation for m attached (TAB A)
D. Plans and Specifications
Minimum submission r equir ements for all pr oper ties (new constr uction, r ehabilitation and adaptive r euse)
1. A location map with property clearly defined.

2. Sketch plan of the site showing overall dimensions of main building(s), major site elements
(e.g., parking lots and location of existing utilities, and water, sewer, electric,
gas in the streets adjacent to the site). Contour lines and elevations are not required.
3. Sketch plans of main building(s) reflecting overall dimensions of:
a. Typical floor plan(s) showing apartment types and placement
b. Ground floor plan(s) showing common areas;
c. Sketch floor plan(s) of typical dwelling unit(s);
d. Typical wall section(s) showing footing, foundation, wall and floor structure.
Notes must indicate basic materials in structure, floor and exterior finish.
4. Requir ed documentation for r ehabilitation pr oper ties: A unit-by-unit wor k wr ite-up.
v12.31.09 Page 13
VI I . OPERATI NG BUDGET
A. Rental Assistance
1. Do or will any low-income units receive rental assistance?
Yes No
2. If yes, indicate type of rental assistance:
Section 8 New Construction Substantial Rehabilitation

Section 8 Moderate Rehabilitation
Section 8 Certificates
Section 8 Project Based Assistance
RD 515 Rental Assistance
Section 8 Vouchers
State Assistance
Other:
3. Number of units receiving assistance: 41

Number of years in rental assistance contract: 1
Expiration date of contract:
Contract or other agreement attached (TAB Q)
B. Utilities
1. Monthly Utility Allowance Calculations
Utilities Type of Utility Utilities Enter Allowances by Bedroom Size

(Gas, Electric, Oil, etc.) Paid by: 0-bdr 1-bdr 2-bdr 3-bdr 4-br
Heating Electric Owner x Tenant 0 25 0 0 0
Air Conditioning Electric Owner x Tenant 0 0 0 0 0
Cooking Electric Owner x Tenant 0 6 0 0 0
Lighting Electric Owner x Tenant 0 18 0 0 0
Hot Water Electric Owner x Tenant 0 13 0 0 0
Water x Owner Tenant 0 0 0 0 0
Sewer x Owner Tenant 0 0 0 0 0
Trash x Owner Tenant 0 0 0 0 0
Total utility allowance for costs paid by tenant $0 $62 $0 $0 $0
2. Source of Utility Allowance Calculation (Attach Documentation TAB Q)

HUD
Utility Company (Estimate) Local PHA
Utility Company (Actual Survey) Other:
v12.31.09 Page 14
C. Revenue
1. Indicate the estimated monthly income for the L ow-I ncome Units: **
Total Number of Total Monthly
Unit Type Tax Credit Units Rental Income
Efficiency Units 0 $0
1 Bedroom Units 42 $16,701
2 Bedroom Units 0 $0
Total Number of Tax Credit Units 42
Plus Other Income Source (list): Subsidy Income - difference between unit rents and LIHTC m $1,107
Equals Total Monthly Income: $17,808
Twelve Months x12
Equals Annual Gross Potential Income $213,696
Less Vacancy Allowance ( 7.0% ) $14,959
Equals Annual Effective Gr oss I ncome (EGI ) - L ow I ncome Units $198,737
* * Beginning at Row 75 enter the appr opr iate data for both tax cr edit and mar ket r ate units in the yellow shaded cel
2. Indicate the estimated monthly income for the M ar ket Rate Units: **
Total Number of Total Monthly
Unit Type Market Units Rental Income
Efficiency Units 0 $0
Total Number of Market Units 0
Plus Other Income Source (list): $0

Equals Total Monthly Income: $0
Twelve Months x12
Equals Annual Gross Potential Income $0
Less Vacancy Allowance ( 0.0% ) $0
Equals Annual Effective Gr oss I ncome (EGI ) - M ar ket Rate Units $0
Documentation in Support of Operating Budget attached (TAB R)
L ist number of units by type: TOTAL UNI TS
ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR

0 0 42 0 0 0
2 BD RM-GAR 3 BD RM-GAR 4 BD RM-GAR 2+Story 2 BR-TH 2+Story 3 BR-TH 2+Story 4 BR-TH

0 0 0 0 0 0
1 STY-EFF-ELD 1 STY-1 BR-ELD 1 STY-2 BR-ELD Note: Please be sur e to enter the number of units in the
0 0 0 appr opr iate unit categor y. I f not, you will find an er r or on
the scor esheet at 5a, 6a & 6b.

L ist number of units by type: TAX CREDI T UNI TS
ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR
0 0 42 0 0 0
2 BD RM-GAR 3 BD RM-GAR 4 BD RM-GAR 2+Story 2 BR-TH 2+Story 3 BR-TH 2+Story 4 BR-TH

0 0 0 0 0 0
1 Story-EFF-ELD 1 Story-1 BR-ELD 1 Story-2 BR-ELD

0 0 0
Efficiency Units
Unit Type / Net Rentable Monthly Rent Total
Rent Targeting Number Units Square Feet Per Unit Monthly Rent
Efficiency - 40% 0 0.00 $ - $ -

Efficiency - 40% 0 0.00 $ - $ -
v12.31.09 Efficiency - 40% 0 0.00 $ - $ - Page 15
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -

Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -

Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Total Efficiency Total Monthly Eff.
Tax Credit Units: 0 0.00 Tax Credit Rent: $ -
Efficiency - Market 0 0.00 $ - $ -

Total Efficiency
Market Units: 0 0.00 Total Monthly
Eff. Market Rent: $ -
Total Eff. Units: 0 Total Eff. Rent $ -
1-Bedroom Units
Net Rentable Monthly Rent Total
v12.31.09 Page 15
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 50% 41 584.91 $ 397 $ 16,277

1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 60% 1 584.91 $ 424 $ 424

1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
Total 1-BR Total Monthly 1-BR
Tax Credit Units: 42 24,566.22 Tax Credit Rent: $ 16,701
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
Total 1-BR
1-BR Market Rent: $ -
v12.31.09 Page 15
Total 1-BR Units: 42 Total 1-BR Rent $ 16,701
2-Bedroom Units
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
v12.31.09 Page 15
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
Total 2-BR
Total 2-BR Units: 0 Total 2-BR Rent $ -
3-Bedroom Units
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
v12.31.09 Page 15
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
Total 3-BR
4-Bedroom Units
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
v12.31.09 Page 15
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
Total 4-BR
Total Units 42 Net Rentable SF: TC Units 24,566.22

MKT Units 0.00
Total NR SF: 24,566.22
Floor Space Fraction 100.0000%
v12.31.09 Page 15
D. Oper ating Expenses

Administr ative:
1. Advertising/Marketing $500
2. Office Salaries $0
3. Office Supplies $750
4. Office/Model Apartment (type______) $0
5. Management Fee $23,940
12.05% of EGI 570 Per Unit
6. Manager Salaries $14,000
7. Staff Unit (s) (type______) $0
8. Legal $300
9. Auditing $4,500
10. Bookkeeping/Accounting Fees $0
11. Telephone & Answering Service $950
12. Tax Credit Monitoring Fee $0
13. Miscellaneous Administrative $800
Total Administr ative $45,740
Utilities
14. Fuel Oil $0
15. Electricity $5,400
16. Water $8,700
17. Gas $0
18. Sewer $8,800
Total Utility $22,900
Oper ating:
19. Janitor/Cleaning Payroll $12,200
20. Janitor/Cleaning Supplies $5,000
21. Janitor/Cleaning Contract $5,600
22. Exterminating $0
23. Trash Removal $3,200
24. Security Payroll/Contract $0
25. Grounds Payroll $6,800
26. Grounds Supplies $1,600
27. Grounds Contract $0
28. Maintenance/Repairs Payroll $0
29. Repairs/Material $0
30. Repairs Contract $0
31. Elevator Maintenance/Contract $3,200
32. Heating/Cooling Repairs & Maintenance $0
33. Pool Maintenance/Contract/Staff $0
34. Snow Removal $500
35. Decorating/Payroll/Contract $1,500
36. Decorating Supplies $0
37. Miscellaneous $750
Oper ating & M aintenance Totals $40,350
Taxes & I nsur ance
38. Real Estate Taxes $14,500
39. Payroll Taxes $2,700
40. Miscellaneous Taxes/Licenses/Permits $0
41. Property & Liability Insurance $4,800
42. Fidelity Bond $22,510
43. Workman's Compensation $500
44. Health Insurance & Employee Benefits $3,500
45. Other Insurance $2,100
Total Taxes & I nsur ance $50,610
6544
Total Oper ating Expense $159,600
D1. Total Oper. Ex. Per Unit $3,800 D2. Total Oper. Ex. As % EGI (from E3) 80.31%
Replacement Reser ves (Total # Units X $300 or $250 New Const. Elderly Minimum) $0
Total Expenses $159,600
ERROR - REPLACEMENT RESERVES AMOUNT IS LESS THAN $300 PER UNIT MINIMUM
v12.31.09 Page 16
E. Cash Flow (Fir st Year )

1. Annual EGI Low-Income Units from (C1) $198,737
2. Annual EGI Market Units (from C2) + $0
3. Total Effective Gross Income = $198,737
4. Total Expenses (from D) $159,600
5. Net Operating Income = $39,137
6. Total Annual Debt Service (from Page 21 B2) - $35,724
7. Cash Flow Available for Distribution = $3,413
F. Pr oj ections for Financial Feasibility - 15 Year Pr oj ections of Cash Flow
Stabilized
Year 1 Year 2 Year 3 Year 4 Year 5
Eff. Gr oss I ncome 198,737 202,712 206,766 210,902 215,120
L ess Oper . Expenses 159,600 164,388 169,320 174,399 179,631
Net I ncome 39,137 38,324 37,447 36,502 35,488
L ess Debt Ser vice 35,724 35,724 35,724 35,724 35,724
Cash Flow 3,413 2,600 1,722 778 -236
Debt Cover age Ratio 1.10 1.07 1.05 1.02 0.99

Eff. Gr oss I ncome 219,422 223,810 228,287 232,852 237,509
Net I ncome 34,402 33,240 31,999 30,676 29,268
Cash Flow -1,323 -2,485 -3,726 -5,049 -6,457

Eff. Gr oss I ncome 242,260 247,105 252,047 257,088 262,230
Net I ncome 27,771 26,181 24,495 22,710 20,820
Cash Flow -7,954 -9,543 -11,229 -13,015 -14,904
Estimated Annual Percentage Increase in Revenue 2.00% (Must be < 2%)
Estimated Annual Percentage Increase in Expenses 3.00% (Must be > 3%)
v12.31.09 Page 17
VI I I . PROJECT BUDGET
A. Cost/Basis/M aximum Allowable Cr edit
Complete cost column and basis column(s) as appropriate through A12. Check if the following
documentation is attached at TAB S:
Executed Construction Contract
Executed Trade Payment Breakdown
Appraisal
Other Cost Documentation
Environmental Studies
NOTE: Attorney must opine, among other things, as to correctness of the inclusion of each cost item in
eligible basis, type of credit and numerical calculations of this Part VIII.
Amount of Cost up to 100% Includable in

Eligible Basis--Use Applicable Column(s):
"30% Present Value Credit" (D)
Item (A) Cost (B) Acquisition (C) Rehab/ "70 % Present
New Construction Value Credit"
1. Contr actor Cost
A. Off-Site Improvements 0 0 0 0
B. Site Work 0 0 0 0
C. Geothermal System 0 0 0 0
D. Unit Structures (New) 0 0 0 0
E. Unit Structures (Rehab) 1,152,846 0 0 1,152,846
F. Solar Electric System 0 0 0 0
G. Asbestos Removal 0 0 0 0
H. Demolition 0 0 0 0
I. Commercial Space Costs 0 0 0 0
J. Structured Parking Garage 0 0 0 0
K. Subtotal A: (Sum 1A..1J) 1,152,846 0 0 1,152,846
L. General Requirements 50,000 0 0 50,000
M. Builder's Overhead 50,000 0 0 50,000
( 4.3% Contract)
N. Builder's Profit 50,000 0 0 50,000
( 4.3% Contract)
O. Bonding Fee 0 0 0 0
P. Other 0 0 0 0
Q. Contractor Cost
Subtotal (Sum 1K..1P) $1,302,846 $0 $0 $1,302,846
2. Owner Costs
A. Building Permit 0 0 0 0
B. Arch./Engin. Design Fee 15,000 0 0 15,000
( 357 /Unit)
C. Arch. Supervision Fee 15,000 0 0 15,000
( 357 /Unit)
D. Tap Fees 0 0 0 0
E. Soil Borings 0 0 0 0
v12.31.09 Page 18

2. Owner Costs Continued
F. Construction Loan 10,000 0 0 10,000

Origination Fee
G. Construction Interest 70,000 0 0 70,000
( 4.0% for 18 months)
H. Taxes During Construction 7,500 0 0 7,500
I. Insurance During Construction 7,500 0 0 7,500
J. Cost Certification Fee 6,000 0 0 0
K. Title and Recording 45,000 0 0 45,000
L. Legal Fees for Closing 60,000 0 0 10,000
M. Permanent Loan Fee 0 0 0 0
( 0.0% )
N. Other Permanent Loan Fees 0 0 0 0
O. Credit Enhancement 0 0 0 0
P. Mortgage Banker 0 0 0 0
Q. Environmental Study 2,200 0 0 2,200
R. Structural/Mechanical Study 0 0 0 0
S. Appraisal Fee 5,000 0 0 5,000
T. Market Study 3,500 0 0 3,500
U. Operating Reserve 106,716 0 0 0
V. Tax Credit Fee 17,101 0 0 0
W. OTHER $30,000 $0 $0 $20,000
(SEE PAGE 19A)
X. Owner Cost
Subtotal (Sum 2A..2W) $400,517 $0 $0 $210,700
Subtotal 1 + 2 $1,703,363 $0 $0 $1,513,546

(Owner + Contractor Costs)
3. Developer 's Fees 449,000 0 0 449,000
4. Owner 's Acquisition Costs

Land 90,000
Existing Improvements 1,700,000 1,700,000
Subtotal 4: $1,790,000 $1,700,000
5. Total Development Costs

Subtotal 1+2+3+4: $3,942,363 $1,700,000 $0 $1,962,546
I f this application seeks r ehab cr edits only, in which ther e is no acquisition and no change in owner ship, enter the gr eater of
appr aised value or tax assessment value her e: $0 L and
(Attach documentation at Tab K ) $0 Building
12.31.09 Page 19

W. OTHER OWNER COSTS
Contingency Reserve 0 0 0 0
(Rehab or Adaptive Reuse only)
L I ST ADDI TI ONAL I TEM S
Leaseup Reserve 10,000 0 0
EarthCraft 10,000 0 0 10,000
Temporary Relocation 10,000 0 0 10,000
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
Subtotal (Other Owner Costs) $30,000 $0 $0 $20,000
v12.31.09 Page 19A


"30 % Present Value Credit"
(C) Rehab/ (D)
New "70 % Present
Item (A) Cost (B) Acquisition Construction Value Credit"
5. Total Development Costs
Subtotal 1+2+3+4 3,942,363 1,700,000 0 1,962,546
6. Reductions in Eligible Basis
Subtract the following:

A. Amount of federal grant(s) used to finance 0 0 0
qualifying development costs
B. Amount of nonqualified, nonrecourse financing 0 0 0
C. Costs of nonqualifying units of higher quality 0 0 0

(or excess portion thereof)
D. Historic Tax Credit (residential portion) 0 0 0
7. Total Eligible Basis (5 minus 6 above) 1,700,000 0 1,962,546
8. Adj ustment(s) to Eligible Basis (For non-acquisition costs in eligible basis)

(i) For Earthcraft or LEED Certification AND 60 Bonus Point 0 0
(ii) For QCT or DDA (Eligible Basis x 30%) 0 0
Total Adj usted Eligible basis 0 1,962,546
9. Applicable Fr action 100.0000% 100.0000% 100.0000%
10. Total Qualified Basis (Same as Par t I X-C) 1,700,000 0 1,962,546

(Eligible Basis x Applicable Fraction)
11. Applicable Per centage 3.35% 3.35% 9.00%

(For 2010 9% competitive credits, use the March 2010 applicable percentages for acq.)
(For 9% non-competitive & tax exempt bonds, use the most recently published rates)
12. M aximum Allowable Cr edit under I RC §42 $56,950 $0 $176,629

(Qualified Basis x Applicable Percentage)
(Same as Part IX-C and equal to or more than $233,579
credit amount requested) Combined 30% & 70% P. V. Credit
v12.31.09 Page 20
B. Sour ces of Funds
1. Constr uction Financing: List individually the sources of construction financing, including any such
loans financed through grant sources:
Date of Date of Amount of

Source of Funds Application Commitment Funds Name of Contact Person
1. The First Bank and Trus 08/01/10 02/01/11 $1,170,000 Mark Nelson
2. $0
3. $0
Commitments or letter(s) of intent attached (TAB T)
2. Per manent Financing: List individually the sources of all permanent financing in order of lien position:
Interest Amor tization Term

Date of Date of Amount of Annual Debt Rate of Per iod of
Source of Funds Application Commitment Funds Service Cost Loan I N YEARS Loan (years)
1. USDA Rural Developm assumed debt 02/01/11 $1,350,000 $35,424 1.00% 48 31

2. DHCD HOME 12/31/10 02/01/11 $30,000 $300 1.00% 1000 20
3. FHLB AHP 07/01/09 02/01/10 $211,521 $0 0.00% 30 30
4. Sponsor Loan 07/01/10 02/01/11 $264,600 $0 0.00% 30 30
5. $0 $0 0.00% 1000 0
6. $0 $0 0.00% 1000 0
Totals: $1,856,121 $35,724
3. Gr ants: List all grants provided for the development:
Date of Date of Amount of

Source of Funds Application Commitment Funds Name of Contact Person
1. $0
2. $0
3. $0
4. $0
5. $0
6. $0
Total Permanent Grants: $0

v12.31.09 Page 21
4. Portion of Syndication Proceeds Attributable to Historic Tax Credit

Amount of Federal historic credits $0 x Equity % $0.00 $0
Amount of Virginia historic credits $0 x Equity % $0.00 $0
6. Equity that Sponsor will Fund:

Cash Investment $0
Contributed Land/Building $0 Assessment Attached (TAB S)
Deferred Developer Fee $287,864
Other: $0
Equity Total $287,864
7. Total of All Sources (B2 + B3 + B4 + B5 + B6) $2,143,985
(not including syndication proceeds except for historic tax credits)
8. Total Development Cost $3,942,363

(From VIII-A5)
9. Less Total Sources of Funds (From B7 above) $2,143,985
10. Equals equity gap to be funded with low-income tax credit

proceeds (must equal IX-D3) $1,798,378
C. Syndication I nfor mation (I f Applicable)
1. Actual or Anticipated Name of Syndicator Virginia Community Development Corporation

2. Contact Person Chris Sterling Phone 804-343-1200
3. Street Address 1840 West Broad Street, Suite 200
City Richmond State VA Zip 23227
4. a. Total to be paid by anticipated users of credit (e.g., limited partners) $1,798,378

b. Equity Dollars Per Credit (e.g., $0.85 per dollar of credit) $0.77
c. Percent of ownership entity (e.g., 99% or 99.9%) 99.99%
d. Net credit amount anticipated by user of credits $233,556
e. Syndication costs not included in VIII-A5 (e.g., advisory fees) $0
5. Net amount which will be used to pay for Total Development Cost (4a-4e)
as listed in Part VIII-A5 (same amount as Part IX-D3) $1,798,378
6. Amount of annual credit required for above amounts

(same amount as Part IX-D6) $233,579
7. Net Equity Factor [C5 / (C6 X 10)]
(same amount as Part IX-D4) Must be equal to or greater than 85% 76.99%
8. Syndication: Public or Private

9. Investors: Individual or Corporate
Weighted Aver age Cr edit Pr ice Calculation

Exchange Component 40% $0.85 $0.34
Market Component 60% $0.72 $0.43
Weighted Average Credit Price: $0.77
v12.31.09 Page 22
D. Recap of Feder al, State, and L ocal Funds/Any Cr edit Enhancements
1. Are any portions of the sources of funds described above for the development financed directly or indirectly
with Federal, State, or Local Government Funds? Yes No
If yes, then check the type and list the amount of money involved.
Below-Market Loans Market-Rate Loans
Tax Exempt Bonds $0 Taxable Bonds $0

RD 515 $1,350,000 Section 220 $0
Section 221(d)(3) $0 Section 221(d)(3) $0
Section 312 $0 Section 221(d)(4) $0
Section 236 $0 Section 236 $0
VHDA SPARC/REACH $0 Section 223(f) $0
HOME Funds $30,000 Other: $0
Other: FHLBA AHP $211,521
Other: Sponsor Loan $264,600
Grants Grants
CDBG $0 State $0
UDAG $0 Local $0
Other: $0
This means grants to the partnership. If you received a loan financed by a locality which received one of the
listed grants, please list it in the appropriate loan column as "other" and describe the applicable grant program
which funded it.
2. Subsidized Funding: list all sources of funding for points. Documentation Attached (TAB T)
Source of Funds Commitment date Funds

1. FHLB AHP 02/01/10 $211,521
2. $0
3. $0
4. $0
5. $0
3. Does any of your financing have any credit enhancement? Yes No

If yes, list which financing and describe the credit enhancement:
4. Other Subsidies Documentation Attached (TAB Q)

Section 8 Rent Supplement or Rental Assistance Payment
Tax Abatement
Other
5. Is HUD approval for transfer of physical asset required?

Yes No
E. For Tr ansactions Using Tax-Exempt Bonds Seeking 4% Cr edits:

For purposes of the 50% Test, and based only on the data entered to this
application, the portion of the aggregate basis of buildings and land financed with
tax-exempt funds is:
v12.31.09 N/A Page 23
I X. ADDI TI ONAL I NFORM ATI ON
A. Extended Use Restr iction
NOTE: Each recipient of an allocation of credits will be required to record an extended use
agreement as required by the IRC governing the use of the development for low-income housing for
at least 30 years. However, the IRC provides that, in certain circumstances, such extended use
period may be terminated early.
This development will be subject to the standard extended use agreement which permits early
termination (after the mandatory 15-year compliance period) of the extended use period.
This development will be subject to an extended use agreement in which the owner's right to any
early termination of the extended use provision is waived for 25 additional years after the 15-
year compliance period for a total of 40 years. Do not select if IX.B is checked below.
This development will be subject to an extended use agreement in which the owner's right to any
early termination of the extended use provision is waived for 35 additional years after the 15-
year compliance period for a total of 50 years. Do not select if IX.B is checked below.
B. Nonpr ofit/L ocal Housing Author ity Pur chase Option/Right of Fir st Refusal
1. After the mandatory 15-year compliance period, a qualified nonprofit as identified in the
attached nonprofit questionnaire, or local housing authority will have the option to purchase
or the right of first refusal to acquire the development for a price not to exceed the outstanding
debt and exit taxes. Such debt must be limited to the original mortgage(s) unless any refinancing
is approved by the nonprofit. Do not select if extended compliance is selected in IX.A above.
Option or Right of Fir st Refusal in Recor dable For m Attached (TAB V)
Enter name of qualified nonpr ofit People Incorporated Housing Group
2. A qualified nonprofit or local housing authority submits a homeownership plan committing to

sell the units in the development after the mandatory 15-year compliance period to tenants whose
incomes shall not exceed the applicable income limit at the time of their initial occupancy.
Do not select if extended compliance is selected in IX.A above.
Homeowner ship Plan Attached (TAB J)
v12.31.09 Page 24
C. Building-by-Building I nfor mation M ust Complete

Qualified basis must be determined on a building-by building basis. Complete the section below. Building street addresses are required by the IRS (must have them by the time of
allocation request).
NUMBER 30% Present Value 30% Present Value

OF Credit for Acquisition Credit for Construction 70% Present Value Credit
TAX MARKET
CREDIT RATE Actual or Actual or Actual or
UNITS UNITS Estimate Anticipated Estimate Anticipated Estimate Anticipated
Build Street Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit
ing # Address Basis Date Percentage Amount Basis Date Percentage Amount Basis Date Percentage Amount
1. 42 0 134 Jay Street; Gate City, VA 2425 $1,700,000 10/31/12 3.35% 56,950 $0 0.00% 0 $1,962,546 10/31/12 9.00% 176,629
2. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
3. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
4. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
5. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
6. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
7. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
8. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
9. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
10. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
11. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
12. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
13. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
14. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
15. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
16. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$1,700,000 $0 $1,962,546
$56,950 $0 $176,629
Qualified Basis Totals (must agree with VIII-A10)
Credit Amount Totals (must agree with VIII-A-12)
v12.31.09 Page 25


TAX MARKET
17. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
18. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
19. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
20. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
21. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
22. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
23. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
24. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
25. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
26. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
27. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
28. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
29. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
30. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
31. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
32. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v12.31.09 Page 25 (2)



TAX MARKET
33. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
34. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
35. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
36. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
37. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
38. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
39. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
40. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
41. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
42. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
43. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
44. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
45. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
46. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
47. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
48. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v12.31.09 Page 25 (3)



TAX MARKET
49. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
50. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
51. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
52. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
53. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
54. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
55. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
56. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
57. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
58. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
59. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
60. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
61. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
62. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
63. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
64. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v12.31.09 Page 25 (3)



TAX MARKET
65. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
66. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
67. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
68. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
69. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
70. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
71. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
72. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
73. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
74. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
75. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
76. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
77. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
78. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
79. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
80. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v12.31.09 Page 25 (3)



TAX MARKET
81. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
82. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
83. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
84. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
85. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
86. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
87. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
88. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
89. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
90. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
91. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
92. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
93. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
94. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
95. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
96. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v12.31.09 Page 25 (3)

D. Deter mination of Reser vation Amount Needed
The following calculation of the amount of credits needed is substantially the same as the calculation which will be
made by VHDA to determine, as required by the IRC, the amount of credits which may be allocated for the
development. However, VHDA at all times retains the right to substitute such information and assumptions as are
determined by VHDA to be reasonable for the information and assumptions provided herein as to costs (including
development fees, profits, etc.), sources for funding, expected equity, etc. Accordingly, if the development is selected
by VHDA for a reservation of credits, the amount of such reservation may differ significantly from the amount you
compute below.
1. Total Development Costs (from VIII-A5, Column A page 20) $3,942,363
2. Less Total Sources of Funds (from VIII-B7 page 22) $2,143,985
3. Equals Equity Gap $1,798,378
4. Divided by Net Equity Factor (VIII-C7 page 22) 76.99%

(Percent of 10-year credit expected to be raised as equity investment)
5. Equals Ten-Year Credit Amount Needed to Fund Gap $2,335,789
Divided by ten years 10
6. Equals Annual Tax Credit Required to Fund the Equity Gap $233,579
7. The Maximum Allowable Credit Amount $233,579

(from VIII-A12-combined figure)
(This amount must be equal to or more than 6 above)
8. Reservation Amount (Lesser of 6 or 7 above)

Credit per Unit 5,561 Combined 30% & 70% PV Credit
Credit per Bedroom 5,561 $233,579

Comprised of
$56,950 and $176,629

30% PV Credit 70% PV Credit
(Based on same relative percentages as VIII-A12)
E. Attor ney’ s Opinion Goal Seek Function

Attached in M andator y TAB W ) If you incur the error message that your reservation amount is not equal
to the equity gap amount you may use the goal seek function within the Excel
spreadsheet to eliminate the error message. To use the “Goal Seek” function first
place the curser box on cell V28. Using the mouse arrow, point and click on
“Tools” on the top line and then click on the “Goal Seek” option. A box will
appear with the V28 cell shown in the top space, place the cursor in the middle
box and type in the new amount that you want the equity gap to be which should
be the reservation amount below, then place the cursor in the bottom space and at
the bottom of the page click on page 22. Then place the cursor on cell N15
(Deferred Developer Fee) and click on “OK”. A message should then appear that
a solution has been found and if the amount is correct click “OK”. If the amounts
are now equal the error message will disappear.
v12.31.09 Page 26
F. Statement of Owner
The undersigned hereby acknowledges the following:
1. that, to the best of its knowledge and belief, all factual information provided herein or in connection
herewith is true and correct, and all estimates are reasonable.
2. that it will at all times indemnify and hold harmless VHDA and its assigns against all losses, costs,
damages, VHDA's expenses, and liabilities of any nature directly or indirectly resulting from, arising out of,
or relating to VHDA's acceptance, consideration, approval, or disapproval of this reservation request and
the issuance or nonissuance of an allocation of credits, grants and/or loan funds in connection herewith.
3. that points will be assigned only for representations made herein for which satisfactory documentation is
submitted herewith and that no revised representations may be made in connection with this application
once the deadline for applications has passed.
4. that this application form, provided by VHDA to applicants for tax credits, including all sections herein
relative to basis, credit calculations, and determination of the amount of the credit necessary to make the
development financially feasible, is provided only for the convenience of VHDA in reviewing reservation
requests; that completion hereof in no way guarantees eligibility for the credits or ensures that the amount
of credits applied for has been computed in accordance with IRC requirements; and that any notations
herein describing IRC requirements are offered only as general guides and not as legal authority.
5. that the undersigned is responsible for ensuring that the proposed development will be comprised of
qualified low-income buildings and that it will in all respects satisfy all applicable requirements of federal
tax law and any other requirements imposed upon it by VHDA prior to allocation, should one be issued.
6. that, for the purposes of reviewing this application, VHDA is entitled to rely upon representations of the
undersigned as to the inclusion of costs in eligible basis and as to all of the figures and calculations relative
to the determination of qualified basis for the development as a whole and/or each building therein
individually as well as the amounts and types of credit applicable thereof, but that the issuance of a
reservation based on such representation in no way warrants their correctness or compliance with IRC
requirements.
7. that VHDA may request or require changes in the information submitted herewith, may substitute its own
figures which it deems reasonable for any or all figures provided herein by the undersigned and may reserve
credits, if any, in an amount significantly different from the amount requested.
8. that reservations of credits are not transferable without prior written approval by VHDA at its sole
discretion.
v12.31.09 Page 27
2010 LIHTC SELF SCORE SHEET:
Self Scoring Process
This worksheet is intended to provide you with an estimate of your application score based on the selection criteria described in the
QAP. Most of the data used in the scoring process is automatically entered below as you fill in the application. Other items,
denoted below in the green shaded cells, are items that are typically evaluated by VHDA’s staff during the application review and
feasibility analysis. For purposes of self scoring, it will be necessary for you to make certain decisions and assumptions about your
application and enter the appropriate responses in the green shaded cells of this score sheet. All but two require yes/no responses,
in which case enter Y or N as appropriate. Item 2b pertaining to the Local CEO Letter will require one of the following responses: Y
– the letter indicates unconditional support; N – the letter indicates opposition to the project; NC – no comment from the locality, or
any other response which is neither unconditional support nor opposition. Item 5e1 requires a numeric value to be entered. Please
remember that the score is only an estimate based on the selection criteria using the reservation application data and the
responses you’ve entered on this score sheet. VHDA reserves the right to change application data and/or score sheet responses
where appropriate, which may change the final score.
MANDATORY ITEMS: Score

a. Signed, completed application Y Y or N 0
b. Duplicate copy of application Y Y or N 0
c. Partnership agreement Y Y or N 0
d. SCC Certification Y Y or N 0
e. Previous participation form Y Y or N 0
f. Site control document Y Y or N 0
g. Architect's Certification Y Y or N 0
h. Attorney's opinion Y Y or N 0
i. Nonprofit questionnaire (if NP) Y Y, N, N/A 0
0.00
1. READINESS:
a. Plan of development Y 0 or 40 40.00
b. Zoning approval Y 0 or 40 40.00
Total: 80.00
2. HOUSING NEEDS CHARACTERISTICS:

a. VHDA notification letter to CEO Y 0 or -50 0.00
b. Local CEO letter (Y,NC,N) Y 0 or 25 or 50 50.00
c. Location in a revitalization area Y 0 or 30 30.00
d. Location in a Qualified Census Tract N 0 or 5 0.00
e. Sec 8 or PHA waiting list preference Y 0 or 10 10.00
f. Subsidized funding commitments 5.37% Up to 40 10.73
g. Existing RD, HUD Section 8 or 236 program Y 0 or 20 20.00
h. Tax abatement or new project based rental subsidy (HUD or RD) Y 0 or 10 10.00
i. Census tract with <10% poverty rate, no tax credit units N 0 or 25 0.00
j. Development listed on the Rural Development Rehab Priority List N 0 or 15 0.00
k. Dev. located in area with little or no increase in rent burdened population Up to -20 0.00
l. Dev. located in area with increasing rent burdened population Up to 20 0.00
Total 130.73
3. DEVELOPMENT CHARACTERISTICS:
a. Unit size (See calculations below) Up to 100 100.00
b. Amenities (See calculations below) Up to 70 68.00
c. Project subsidies/HUD 504 accessibility for 5 or 10% of units N 0 or 50 0.00
or d. HCV payment standard/HUD 504 accessibility for 5 or 10% of units N 0 or 30 0.00
or e. HUD 504 accessibility for 4% of units N 0 or 15 0.00
f. Proximity to public transportation N 0, 10 or 20 0.00
g. Development will be Earthcraft or LEED certified Y 0 or 30 30.00
h. VHDA Certified Property Management Agent Y 0 or 25 25.00
i. Units constructed to meet VHDA's Universal Design standards 100% Up to 15 15.00
j. Developments with less than 100 units Up to 20 20.00
Total 258.00
4. TENANT POPULATION CHARACTERISTICS:

a. <= 20% of units having 1 or less bedrooms N 0 or 15 0.00
b. Percent of units with 3 or more bedrooms 0.00% Up to 15 0.00
Total 0.00
5. SPONSOR CHARACTERISTICS:
a. Developer experience - 3 developments with 3 x units or 6 developments with 1 x units N 0 or 50 0.00
or b. Developer experience - 1 development with 1 x units Y 0 or 10 10.00
c. Developer experience - uncorrected major violation N 0 or -50 0.00
v12.31.09
d. Developer experience - noncompliance Enter Total Negative N 0 or -15 0.00
e1. Developer experience - did not build as represented Points Here: 0 0 or -x 0.00
e2. Developer experience - termination of credits by VHDA N 0 or -10 0.00
f. Management company rated unsatisfactory N 0 or -25 0.00
Total 10.00
6. EFFICIENT USE OF RESOURCES:

a. Credit per unit If #N/A or #REF! appears in the score column of these point Up to 180 58.52
b. Cost per unit categories check spelling of Clerk's Office on pg 1. It must match Up to 75 14.42
Total exactly with the Jurisdiction names listed in the Application Manual. 72.94
7. BONUS POINTS: Locality AMI State AMI

a. Units with rents at or below 40% of AMI $49,000 $53,100 0% Up to 10 0.00
b. Units with rent and income at or below 50% of AMI 50% Up to 50 0.00
or c. Units with rents at or below 50% rented to tenants at or below 60% of AMI 98% Up to 25 0.00
or d. Units in Low Income Jurisdictions with rents <= 50% rented to tenants with <= 60% of A 98% Up to 50 48.81
e. Extended compliance 0 Years 40 or 50 0.00
or f. Nonprofit or LHA purchase option Y 0 or 60 60.00
or g. Nonprofit or LHA Home Ownership option N 0 or 5 0.00
Total 108.81
500 Point Threshold - 9% Credits TOTAL SCORE: 660.48

475 Point Threshold - Tax Exempt Bond Credits
Unit Size Calculations:

E-AS LVG E-EFF E-1 BDRM E-2 BDRM
High Sq.Ft. / BDRM 0 0 725 0
Low Sq.Ft. / BDRM 0 0 580 0
Project Sq.Ft. / BDRM 0 0 741 0
Percentage of Units 0.00% 0.00% 100.00% 0.00%
Points per Bedroom 0.00 0.00 100.00 0.00
F-EFF-G F-1 BDRM-G F-2 BDRM-G F-3 BDRM-G

F-4 BDRM-G F-2 BDRM-TH F-3 BDRM-TH F-4 BDRM-TH

1 ST ELD-EFF 1 ST ELD-1 BDRM 1 ST ELD-2 BDRM If you do not receive a numeric point value
High Sq.Ft. / BDRM 0 0 0 in the unit size calculations, please
Low Sq.Ft. / BDRM 0 0 0 check the values entered on page 8, C1.
Project Sq.Ft. / BDRM 0 0 0 These must be whole number numeric
Percentage of Units 0.00% 0.00% 0.00% values only. Also check page 7, item 3,
Points per Bedroom 0.00 0.00 0.00 the number of units must be either new,
adapt or rehab only. Combinations do
Total Unit Size Points: 100.00 not calculate correctly.
Amenities:
All units have:
a. 1.5 or 2 Bathrooms 0.00% 0.00
b. Community Room 5.00
c. Brick Walls 100.00% 20.00
d. Kitchen/Laundry Appl-Energy Star 5.00
e. Windows-Energy Star 5.00
f. Heat/AC-SEER-AFUE 10.00
g. Sub-metered water expense 0.00
h. Low flow faucets & showerheads 3.00
i. High speed cable, DSL, wireless internet 1.00
j. Water heaters meet EPA Energy Star requirements 5.00
k. Geothermal Heat Pump - EPA Energy Star requirements 0.00
l. Solar Electric System - EPA Energy Star requirements 8.00 16.00%
Total 62.00
All elderly units have:
v12.31.09 a. Front-control ranges 1.00
b. Emergency call system 3.00
c. Independent/suppl. heat source 1.00
d. Two eye viewers 1.00
Total 6.00
All rehab or adaptive reuse units:

b. Historic structure 0.00
Total amenities: 68.00
v12.31.09
$/SF = $120.42 Credits/SF = $7.51 Const $/unit = $31,020
TYPE OF PROJECT FAMILY = 11000; ELDERLY = 12000 12000 If an ERROR message appears here check
LOCATION BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR= 500 spelling of Clerk's Office on pg 1. It must
TYPE OF CONSTRUCTION N C=1; ADPT=2;REHAB(35,000+)=3; REHAB(15,000-35,000)=4 4 match exactly with the Jurisdiction names
listed in the Application Manual.
ELDERLY
AS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 ST
AVG UNIT SIZE 0 0 741 0 0 0 0
NUMBER OF UNITS 0 0 42 0 0 0 0
PARAMETER-(COSTS=>35,000) 0 0 126,184 0 0 0 0
PARAMETER-(COSTS<35,000) 0 0 46,883 0 0 0 0
COST PARAMETER 0 0 110,404 0 0 0 0

PROJECT COST PER UNIT 0 0 89,182 0 0 0 0
PARAMETER-(CREDITS=>35,000 0 0 9,298 0 0 0 0
PARAMETER-(CREDITS<35,000) 0 0 3,985 0 0 0 0
CREDIT PARAMETER 0 0 8,241 0 0 0 0

PROJECT CREDIT PER UNIT 0 0 5,561 0 0 0 0
COST PER UNIT POINTS 0.00 0.00 14.42 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 0.00 0.00 58.52 0.00 0.00 0.00 0.00
FAMILY
EFF-G 1 BR-G 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH
AVG UNIT SIZE 0 0 0 0 0 0 0 0
NUMBER OF UNITS 0 0 0 0 0 0 0 0
PARAMETER-(COSTS=>35,000) 0 0 0 0 0 0 0 0
PARAMETER-(COSTS<35,000) 0 0 0 0 0 0 0 0
COST PARAMETER 0 0 0 0 0 0 0 0
PROJECT COST PER UNIT 0 0 0 0 0 0 0 0
PARAMETER-(CREDITS=>35,000 0 0 0 0 0 0 0 0
PARAMETER-(CREDITS<35,000) 0 0 0 0 0 0 0 0
CREDIT PARAMETER 0 0 0 0 0 0 0 0
PROJECT CREDIT PER UNIT 0 0 0 0 0 0 0 0
COST PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL COST PER UNIT POINTS 14.42
TOTAL CREDIT PER UNIT POINTS 58.52
Cost Parameters - Elderly

Standard Cost Parameter - low rise 0 0 110,404 0 0 0 0
Parameter Adjustment - mid rise 0 0 0 0 0 0 0
Parameter Adjustment - high rise 0 0 0 0 0 0 0
Adjusted Cost Parameter 0 0 110,404 0 0 0 0
Credit Parameters - Elderly

Standard Credit Parameter - low rise 0 0 8,241 0 0 0 0
Adjusted Credit Parameter 0 0 8,241 0 0 0 0
Cost Parameters - Family

Standard Parameter - low rise 0 0 0 0 0 0 0 0
Parameter Adjustment - mid rise 0 0 0 0 0 0 0 0
Parameter Adjustment - high rise 0 0 0 0 0 0 0 0
Adjusted Cost Parameter 0 0 0 0 0 0 0 0
Credit Parameters - Family

Standard Credit Parameter - low rise 0 0 0 0 0 0 0 0
Adjusted Credit Parameter 0 0 0 0 0 0 0 0
v12.31.09
$/SF = $120.42 Credits/SF = $7.51 Const $/unit = $31,020
TYPE OF PROJECT FAMILY = 11000; ELDERLY = 12000 12000 If an ERROR message appears here check
LOCATION BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR= 500 spelling of Clerk's Office on pg 1. It must
TYPE OF CONSTRUCTION N C=1; ADPT=2;REHAB(35,000+)=3; REHAB(10,000-35,000)=4 4 match exactly with the Jurisdiction names
listed in the Application Manual.
ELDERLY
AVG UNIT SIZE 0 0 741 0 0 0 0
NUMBER OF UNITS 0 0 42 0 0 0 0
PARAMETER-(COSTS=>35,000) 0 0 124,191 0 0 0 0
PARAMETER-(COSTS<35,000) 0 0 55,371 0 0 0 0
COST PARAMETER 0 0 113,235 0 0 0 0

PROJECT COST PER UNIT 0 0 89,182 0 0 0 0
PARAMETER-(CREDITS=>35,000 0 0 9,298 0 0 0 0
PARAMETER-(CREDITS<35,000) 0 0 4,782 0 0 0 0
CREDIT PARAMETER 0 0 8,579 0 0 0 0

PROJECT CREDIT PER UNIT 0 0 5,561 0 0 0 0
COST PER UNIT POINTS 0.00 0.00 15.93 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 0.00 0.00 63.31 0.00 0.00 0.00 0.00
FAMILY
AVG UNIT SIZE 0 0 0 0 0 0 0 0
NUMBER OF UNITS 0 0 0 0 0 0 0 0
PARAMETER-(COSTS=>35,000) 0 0 0 0 0 0 0 0
PARAMETER-(COSTS<35,000) 0 0 0 0 0 0 0 0
COST PARAMETER 0 0 0 0 0 0 0 0
PROJECT COST PER UNIT 0 0 0 0 0 0 0 0
PARAMETER-(CREDITS=>35,000 0 0 0 0 0 0 0 0
PARAMETER-(CREDITS<35,000) 0 0 0 0 0 0 0 0
CREDIT PARAMETER 0 0 0 0 0 0 0 0
PROJECT CREDIT PER UNIT 0 0 0 0 0 0 0 0
COST PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL COST PER UNIT POINTS 15.93
TOTAL CREDIT PER UNIT POINTS 63.31
Cost Parameters - Elderly

Standard Cost Parameter - low rise 0 0 113,235 0 0 0 0
Adjusted Cost Parameter 0 0 113,235 0 0 0 0
Credit Parameters - Elderly

Standard Credit Parameter - low rise 0 0 8,579 0 0 0 0
Adjusted Credit Parameter 0 0 8,579 0 0 0 0
Cost Parameters - Family

Standard Parameter - low rise 0 0 0 0 0 0 0 0
Adjusted Cost Parameter 0 0 0 0 0 0 0 0
Credit Parameters - Family

Standard Credit Parameter - low rise 0 0 0 0 0 0 0 0
Adjusted Credit Parameter 0 0 0 0 0 0 0 0
v12.31.09
CLINCH VIEW MANOR APARTMENTS, L.L.C. 
People Incorporated Housing Group  People Incorporated of Virginia 
(Managing Member 90%)  (Special Member 10%) 
Robert G. Goldsmith  Robert G. Goldsmith 
(President and CEO)  (President and CEO) 

Clinch View Manor

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INSTRUCTIONS FOR THE

An electronic copy of your completed application is a mandatory submission item.

Applications For 9% Competitive Credits

Applications For Tax Exempt Bond Credits

Staff email addresses:

Application For Reser vation

Deadline for Submission

Tax Exempt Bonds

Virginia Housing Development Authority

Electronic Copy of the Microsoft Excel Based Application (M ANDATORY)

v12.31.09 Submission Checklist

VHDA TRACK I NG NUM BER 2010-C-98

A. Development Name and L ocation:

14. Congressional District 9 http:/ / dlsgis.state.va.us/ congress/ 2001PDFs/ chap7Tab.pdf

State House District 1 http:/ / dlsgis.state.va.us/ House/ 2001HousePDFs/ Chap1Tab.pdf

15. Location Map Attached (TAB A)

B. Pr oj ect Descr iption:

C. Reser vation Request

2. Credits requested from:

Tax Exempt Bonds

This development will receive federal subsidies for:

E. Acquisition Cr edit I nfor mation

Ten-Year Rule For Acquisition Cr edits

F. Rehabilitation Cr edit I nfor mation

M inimum Expenditur e Requir ements

G. Request For Exception

I I . OWNERSHI P I NFORM ATI ON

Must be an individual or legally formed entity

A. Owner I nfor mation:

Principals' Previous Participation Certification attached (M andator y TAB D) & resumé.

B. Seller I nfor mation:

C. Development Team I nfor mation:

1. Tax Attorney: Tom Thorne-Thomsen Related Entity? Yes No

2. Tax Accountant: Mike Vicars Related Entity? Yes No

3. Consultant: Related Entity? Yes No

4. Management Entity (Contact): Bill Hunt Related Entity? Yes No

5. Contractor (Contact): Robert G. Goldsmith Related Entity? Yes No

6. Architect: James C. Bundy Related Entity? Yes No

7. Real Estate Attorney: Peter Curcio Related Entity? Yes No

8. Mortgage Banker: Related Entity? Yes No

9. Other (Contact): Related Entity? Yes No

D. Nonpr ofit I nvolvement:

1. Nonprofit Involvement (All Applicants)

4. Identity of Nonprofit (All nonprofit applicants)

5. Percentage of Nonprofit Ownership (All nonprofit applicants)

I I I .DEVEL OPM ENT I NFORM ATI ON

A. Str uctur e and Units:

2. The development's structural features are (check all that apply):

Row House/Townhouse Detached Single-family

5. Unheated Floor Area (Breezeways, Balconies, Storage) 3,363.86 (Sq. ft.)

8. Number of Buildings (containing rental units) 1

9. Commercial Area Intended Use:

## Project consists primarily of a building(s) which is (CHOOSE ONL Y ONE)

Low-Rise (1-5 stories with any structural elements made of wood)

## a. Total Net Rental Square Feet 24,566.22

Exterior Finish: Brick

3. Check the following items which apply to the proposed project:

Expected Total Electrical Load (kilowatt hours per month): 18,060

a. All cooking ranges will have front controls

The structure is listed individually in the National Register of Historic Places or is

Check one or none of the following point categories, as appropriate:

Ear thcr aft or L EED Development Cer tification