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Project Description
Project Name: Campbell Terrace Family Rental Phase I
Address: 500 Campbell Terrace
Will the project meet Energy Star standards as defined in Appendix B? Yes
Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77?
No
If yes, please describe:
Target Population:Family
Will the project be receiving project based federal rental assistance? Yes
Applicant Information
Indicate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. Under
QAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant
must become part of the ownership entity. The applicant will execute the signature page for this application.
Applicant Name: TCG United, LLC (TCG Development Services/United Developers)
Address: 2939 Breezewood Avenue Suite 201
Telephone: (910)485-6600
Alt Phone:
Fax: (910)483-4274
Site Description
Identify utilities and services currently available (and with adequate capacity) for this site:
Is the site directly accessed by an existing, paved, publicly maintained road? Yes
If no, please explain:
Is any portion of the site located inside the 100 year floodplain? No
If yes:
(a) Describe placement of project buildings in relation to this area:
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
Site Control
Does the owner have fee simple ownership of the property (site/buildings)?No
If yes provide:
If no:
(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?Yes
(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for
purchase of the property and the seller of the property?Yes
If yes, specify the relationship:
Fayetteville Metropolitan Housing Authority (Seller) will be a limited partner of the owner.
(c) Enter the current expiration date of the option/contract to purchase: 10/31/2009
Zoning
Present zoning classification of the site:R5
Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?No
If yes, have the hearings been completed and permits been obtained?
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for
obtaining them:
Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office
review?No
If yes, describe below:
Are there any existing conditions of environmental significance located on the project site?No
If yes, describe below:
Ownership Entity
Owner Name: Campbell Terrace Family Rental Phase I Associates Limiited Partnership
Address: 2939 Breezewood Avenue Suite 201
City: Fayetteville State:NC Zip: 28303
Unit Mix
The Median Income for Cumberland county is $51,600.
Statistics
Market Rate.......
Project Includes:
Separate community building - Sq. Ft. (Floor Area): 1,500
Indicate below any additional targeting for special populations proposed for this project:
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal and
state codes.)
Number of Units: 12
Number of Units: 12
Notes
** Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low
income units are within established thresholds.
Targeting
Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to
create another row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.
# BRs Units %
Note: This number should match the total number of low income units in the Unit Mix section.
Funding Sources
Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service
Bank Loan
RPP Loan
RD 515 Loan
AHP Loan
Non-Repayable Grant
Owner Investment
Other - Specify:
City/County/PWC Grant 2,097,000
* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt
service below.
** Total Sources must equal total replacement cost in Project Development Cost (PDC) section.
In order to maintain the required 1.15 ratio for 20 years, $89,000 from cash flow will be placed in a
reserve account in years 1-15.This money will be redistributed as income in years 16-20.
Development Costs
Eligible Basis
Item Cost Element TOTAL COST
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only)
4 Rehabilitation
24 Bond Costs
26 Placement Fee
33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 89,400
35 Tax Opinion
36 Organizational (Partnership)
39 Relocation Expense
44 Rent-up Expense
63 Federal Tax Credits Requested (if less than line 62) 1,250,000 1,250,000
64 Land Cost 0
Comments:
We are requesting $1,250,000 in federal tax credits.
The project will consists of 112 family units located in 16 buildings with a separate office/community
building. The buildings will be constructed to to meet Energy Star Certification. The buildings will be a mix of
two-story garden apartments and two-story townhomes. One building will be three-stories.
The rent structure has been made very affordable. The units will target those at 35%, 50%, 60% of the
median income.
The surrounding area is mainly residential with some vacant undeveloped land. Many services are located
near the site including schools, churches, daycare and shopping.
Other:
Box Bays
Have you built other tax credit developments that use the same building design as this project?Yes
If yes, please provide name and address:
Blanton Green Apartments I, II, III
1024 Lauren McNeill Loop
Fayetteville, NC 28303
Crosswinds I, II
3514 Town Street
Hope Millls, NC 28348
Eastside I, II
708 Duggins Way
Fayetteville, NC 28301
Golfview Apartments
4131 Fescue Court
Hope Mills, NC 28348
Legion Crossings
3600 Ireland Drive
Hope Mills, NC 28348
Longview Green
Palmer Green I, II
380 W. Palmer Avenue
Raeford, NC 28376
Raeford Green
300 W. Southern Avenue
Raeford, NC 28376
Riverview Green
507 Riverview Court
Roanoke Rapids, NC 27870
Rosehill West
1945 James Hamner Way
Fayetteville, NC 28311
Southview Villas
3315 Gibbon Drive
Hope Mills, NC 28348
Tokay Green
1928 United Drive
Fayetteville, NC 28301
Wallstreet Green
970 Wolfpack Court
Sumter, SC 29150
Woodgreen I, II
200 Bradford Avenue
Aberdeen, NC 28315
Site Amenities:
The site will consist of a communtiy building that will include community room, laundry services, computer
center, postal facility, management office and maintenance room. The site will also include a playground
area, covered pinic area, sitting areas, tot-lot and gazebo. Plans call for creating new street patterns at
Campbell Terrace to better incorporate the site into the neighborhood.
Onsite Activities:
The development will staff an on-site Support Service Coordinator.
Landscaping Plans:
Every effort will be made to preserve as many mature trees as possible. The new plantings will be above
average with an irrigation system.
Do you plan to submit additional market data (market study, etc.) that you want considered? No
If yes, please make sure to include the additional information in your pre-application packet.
NEIGHBORHOOD CHARACTERISTICS
Trend and direction of real estate development and area economic health. Physical condition of buildings and
improvements in the immediate vicinity. Concentration of affordable housing.
Campbell Avenue Phase I will replace the existing Campbell Terrace public housing project. Applications
have been submitted for an additional family complex consisting of 184 new units and two senior complexes
consisting of 108 new units. These three projects are located on sites within .2 miles of Campbell Terrace
Phase I. Future plans call for the addition of new single family homes in the area. The community
revitalization plan also calls for a new school, medical facility, daycare and community resource center in
the area.
Land use pattern is residential in character (single and multifamily housing). Extent that the location is
isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:
wastewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distribution
facilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,
sources of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount and
character of vacant, undeveloped land. The Campbell Terrace site is surrounded mainly by multi and single
family residences.
SITE SUITABILITY
Adequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilities
(particularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project sign
(s) in relation to traffic corridors. There are adequate stop signs and speed limits for the roads within the
neighborhood. Campbell Avenue is off of Old Wilmington Road which is a main traffic corridor through the
downtown area and leads to US 301.
Degree of on-site negative features and physical barriers that will impede project construction or adversely
affect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, large
boulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-
suitability for residential use and difficulties posed by the building(s), such as limited parking, environmental
problems or the need for excessive demolition).
Demolition of buildings are not part of this application. The site will be vacant and cleared before
construction starts.
For each applicable neighborhood feature, enter distance from project in miles.
.1 Public Transportation
1 Schools
Stop
The following enclosures must be submitted along with your signed preliminary application. Some enclosures are required only under
certain conditions. Please check each applicable item to indicate that you understand the enclosure requirements and will enclose the
correct supporting documentation with your application.
Fee Payment
Check in the amount of $5,450.00 made payable to North Carolina Housing Finance Agency.
Tab A - Preliminary Application
Printed, signed copy of preliminary application generated from online system.
B - Map/Driving Instructions
A local map clearly identifying the location of the Site and detailed directions to the Site. Current City or County maps are preferred
– internet maps and directions are not acceptable. Applicant must also provide a map identifying the amenities listed in section IV
(A)(1)(b)(ii) of the QAP and their proximity to the site.
Applicant must provide a sign and boundary markers to clearly identify the road frontage of the site. The sign identifying the site
should read “SITE” with a minimum size of 11x17.
C - Community Revitalization Plan
Applicant should provide a map identifying the subject site within the Plan area (if applicable).
D - Evidence of Site Control
Provide valid option/contract or warranty deed and plot plan.
E - Site Plans/Scope of Work
Preliminary site plan, floor plans and elevations for all projects, interior and exterior photographs and detailed scope of work for
Adaptive Reuse and Rehab projects. Site and floor plans should be no larger than 11x17 and must be produced by a licensed
architect or engineer.
F - Information Package for Market Analysts
This section must include copies of items required in Tabs A, B, E and G (site and floor plans should be no larger than 11x17) and
can include any additional market information such as preliminary market studies the applicant would like to provide to the
Analysts.
G - Rent Roll (Rehabs only)
Provide the current rent roll for the property and indicate which units (if any) are receiving rental assistance.
H - Documentation for Basis Boost
Applicant should provide an appraisal and/or standard geological survey to support a request for the basis boost (if applicable).