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Application
Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans

Project Description
Project Name: Campbell Terrace Family Rental Phase I
Address: 500 Campbell Terrace

City: Fayetteville County: Cumberland Zip: 28301

Census Tract: 2 Block Group: 2

Is project in Qualified Census Tract or Difficult to Develop Area? Yes


Are you requesting the basis boost under section II(E)(4) of the QAP?

Political Jurisdiction: City of Fayetteville


First:Dale Last:
Jurisdiction CEO Name: Title: City Manager
Iman
Jurisdiction Address: 433 Hay Street

Jurisdiction City: Fayetteville Zip: 28301

Jurisdiction Phone: (910)433-1990

Site Latitude: 35.043664

Site Longitude: -78.872747

Project Type: New Construction

Is this project a previously awarded tax credit


development?

New Construction/Adaptive Reuse:


Is this project a follow-on (Phase II, etc) to a previously-awarded tax credit development project? No

If yes, list names of previous phase(s):


Rehab:
Number of residents holding Section 8
vouchers:

Will the project meet Energy Star standards as defined in Appendix B? Yes

Does a community revitalization plan exist? Yes


Will the project use steel and concrete construction and have at least 4 stories? No

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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

If yes, provide the subsidy source: HUD and number of units: 28

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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

City: Fayetteville State: NC Zip: 28303


Contact: First: Murray Last:Duggins Title:Development Partner

Telephone: (910)485-6600

Alt Phone:

Fax: (910)483-4274

Email Address: perry@dugginssmith.com


NOTE: Email Address above will be used for communication between NCHFA and Applicant.

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Site Description

Total Site Acreage: 9.87 Total Buildable Acreage: 9.87


If buildable acreage is less than total acreage, please explain:

Identify utilities and services currently available (and with adequate capacity) for this site:

Storm Sewer Water Sanitary Sewer Electric

Is the demolition of any buildings required or planned? Yes


If yes, please describe:
Demolition of buildings will be the responsibility of the Fayetteville Metropolitan Housing Authority and is not
part of this application.

Are existing buildings on the site currently occupied? Yes


If yes:
(a) Briefly describe the situation:
It will be the responsibility of the Fayetteville Housing Authority to relocate current residents.

(b) Will tenant displacement be temporary? Yes


(c) Will tenant displacement be permanent? No

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:

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(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:

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Site Control
Does the owner have fee simple ownership of the property (site/buildings)?No

If yes provide:

Purchase Date: Purchase Price:

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

(D) Enter Purchase Price: 0

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Zoning
Present zoning classification of the site:R5

Is multifamily use permitted?Yes

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:

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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

Federal Tax ID Number of Ownership Entity: (If assigned)


Note: Do not submit social security numbers for individuals.
Entity Type: Limited Partnership
Entity Status: To Be Formed
Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? No
Is the applicant requesting that the Agency treat the application as CHDO sponsored? No
List all general partners, members,and principals. Specify nonprofit corporate general partners or members.
Click [Add] to add additional partners, members, and principals.

Org: Campbell Terrace Family Rental Phase I/TCG United, LLC


First Name: Murray Last Name: Duggins Function: Managing General Partner
Address: 2939 Breezewood Avenue Suite 201
City: Fayetteville State: NC Zip: 28303

Phone: (910)485-6600 Fax: (910)483-4274

EMail: mod@murrayduggins.com Nonprofit: No

Org: TCG Development Services, LLC


First Name: Peter Last Name: Behringer Function: Principal
Address: 8484 Georgia Avenue Suite 620
City: Silver Spring State: MD Zip: 28309

Phone: (301)563-5562 Fax: (301)563-6160

EMail: behringer@tcgdevelopment.com Nonprofit: No

Org: United Developers, Inc


First Name: Murray Last Name: Duggins Function: Principal
Address: 2939 Breezewood Avenue Suite 201
City: Fayetteville State: NC Zip: 28303

Phone: (910)485-6600 Fax: (910)483-4274

EMail: mod@murrayduggins.com Nonprofit: No

Org: TCG United, LLC


First Name: Murray Last Name: Duggins Function: Limited Partner
Address: 2939 Breezewood Avenue Suite 201
City: Fayetteville State: NC Zip: 28303

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Phone: (910)485-6600 Fax: (910)483-4274

EMail: mod@murrayduggins.com Nonprofit: No

Org: Fayetteville Metropolitan Housing Authority, NC


First Name: Dawn Last Name: Driggers Function: Limited Partner
Address: 1000 Ramsey Street
City: Fayetteville State: NC Zip: 28301

Phone: (910)483-3648 Fax: (910)483-4129

EMail: ddriggers@embarqmail.com Nonprofit: Yes

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Unit Mix
The Median Income for Cumberland county is $51,600.

Low Income Units

Total # Monthly Utility Mandatory **Total


Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.

Gdn Apt 2 1142 30 0 267 121 0 388

Gdn Apt 2 1142 18 0 430 121 0 551

Twn Hse 2 1158 3 0 430 121 0 551

Twn Hse 2 1158 30 12 530 121 0 651

Gdn Apt 3 1214 16 0 304 144 0 448

Gdn Apt 3 1214 4 0 495 144 0 639

Twn Hse 3 1357 3 0 495 144 0 639

Twn Hse 3 1357 8 0 595 144 0 739

Utilities included in rents: Water/Sewer Electric Gas Other Trash pick-up

Employee Units (will add to Low Income Unit total)

Total # Monthly Utility Mandatory **Total


Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.

Utilities included in rents: Water/Sewer Electric Gas Other

Market Rate Units

Total # Monthly Utility Mandatory **Total


Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.

Utilities included in rents: Water/Sewer Electric Gas Other

Statistics

All Gross Monthly


Units Units Rental Income

Low Income....... 112 12 46029

Market Rate.......

Totals............... 112 12 46029

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Proposed number of residential buildings: 16 Maximum number of stories in buildings: 3

Project Includes:
Separate community building - Sq. Ft. (Floor Area): 1,500

Community space within residential bulding(s) - Sq. Ft. (Floor Area):

Elevators - Number of Elevators:

Square Footage Information

Gross Floor Square Footage: 134,476

Total Net Sq. Ft. (All Heated Areas): 126,252

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 Required: 12


Persons with disabilities or homeless populations.

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.

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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 %

2 30 targeted at 35 percent of median income affordable to/occupied by

2 21 targeted at 50 percent of median income affordable to/occupied by

2 30 targeted at 60 percent of median income affordable to/occupied by

3 16 targeted at 35 percent of median income affordable to/occupied by

3 7 targeted at 50 percent of median income affordable to/occupied by

3 8 targeted at 60 percent of median income affordable to/occupied by

Total Low Income Units: 112

Note: This number should match the total number of low income units in the Unit Mix section.

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Funding Sources

Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service

Bank Loan

RPP Loan

Local Gov. Loan - Specify:


City HOME Funds 350,000 2.00 20 30 15,524

RD 515 Loan

RD 538 Loan - Specify:

AHP Loan

Other Loan 1 - Specify:

Other Loan 2 - Specify:

Other Loan 3 - Specify:

Tax Exempt Bonds

State Tax Credit(Loan) 0 0 30 30 0

State Tax Credit(Direct Refund)

Equity: Federal LIHTC 9,343,543

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees

Owner Investment

Other - Specify:
City/County/PWC Grant 2,097,000

Total Sources** 11,790,543

* "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.

Estimated pricing on sale of Federal Tax Credits: $0. 748

Remarks concerning project funding sources:


(Please be sure to include the name of the funding source(s))

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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.

See attached proforma.

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Development Costs
Eligible Basis
Item Cost Element TOTAL COST
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only)

2 Demolition (Rehab / Adaptive Reuse only)

3 On-site Improvements 975,000 975,000

4 Rehabilitation

5 Construction of New Building(s) 6,700,000 6,700,000

6 Accessory Building(s) 243,475 243,475

7 General Requirements (max 6% lines 2-6) 475,109 475,109

8 Contractor Overhead (max 2% lines 2-7) 167,872 167,872

9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest) 503,615 503,615

10 Construction Contingency (max 5% lines 2-9, Rehabs 10%) 271,951 271,951

11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 185,000 185,000

12 Architect's Fee - Inspection

13 Engineering Costs 92,000 92,000

SUBTOTAL (lines 1 through 13) 9,614,022

14 Construction Insurance (prorate) 69,000 69,000

15 Construction Loan Orig. Fee (prorate)

16 Construction Loan Interest (prorate) 301,491 301,491

17 Construction Loan Credit Enhancement (prorate)

18 Construction Period Taxes (prorate) 32,323 32,323

19 Water, Sewer and Impact Fees 0 0

20 Survey 12,000 12,000

21 Property Appraisal 7,500 7,500

22 Environmental Report 6,000 6,000

23 Market Study 4,300 4,300

24 Bond Costs

25 Bond Issuance Costs

26 Placement Fee

27 Permanent Loan Origination Fee

28 Permanent Loan Credit Enhancement

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29 Title and Recording 23,614

SUBTOTAL (lines 14 through 29) 456,228

30 Real Estate Attorney 128,490 128,490

31 Other Attorney's Fees

32 Tax Credit Application Fees (Preliminary and Full) 2,300

33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 89,400

34 Cost Certification / Accounting Fees 12,500 12,500

35 Tax Opinion

36 Organizational (Partnership)

37 Tax Credit Monitoring Fee 78,400

SUBTOTAL (lines 30 through 37) 311,090

38 Furnishings and Equipment 25,000 25,000

39 Relocation Expense

40 Developer's Fee 800,000 800,000

41 Additional Contigency (greater of $500/unit or $30,000)

42 Other Basis Expense -Soft Cost Contingency 61,000 61,000

43 Other Basis Expense -Construction Monitoring Report 18,275 18,275

44 Rent-up Expense

45 Other Non-basis Expense-Syndication Fees 116,000

46 Other Non-basis Expense (specify)

SUBTOTAL (lines 38 through 45) 1,020,275

47 Rent up Reserve 33,600

48 Operating Reserve 224,600

49 Other Reserve ACC Affordability Reserve 130,728

50 Other Reserve (specify)

51 DEVELOPMENT COST (lines 1-49) 11,790,543 0 11,091,901

52 Less Federally Funded Grant

53 Less Disproportionate Standard

54 Less Nonqualified Nonrecourse Financing

55 Less Historic Tax Credit 0

56 TOTAL ELIGIBLE BASIS 11,091,901 0 11,091,901

57 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%

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58 Basis Before Boost 11,091,901 0 11,091,901

59 Basis Boost of up to 130% 100.00% 130.00%

60 TOTAL QUALIFIED BASIS 14,419,471 0 14,419,471

61 Tax Credit Rate 3.50 9.00

62 Federal Tax Credits (maximum $1,300,000) 1,297,752 0 1,297,752

63 Federal Tax Credits Requested (if less than line 62) 1,250,000 1,250,000

64 Land Cost 0

65 TOTAL REPLACEMENT COST 11,790,543

FEDERAL TAX CREDITS IF AWARDED 1,297,752

Comments:
We are requesting $1,250,000 in federal tax credits.

Project Development Cost per unit 59,821

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Market Study Information


Please provide a detailed description of the proposed project:
Campbell Terrace Family Rental Phase I will be 112 units that will replace the existing Campbell Terrace
Complex. Campbell Terrace Phase I will be located on 9.87 in the City of Fayetteville approximately 1/2
mile from the downtown area. The project is part of the Old Wilimington Revitalization Plan which received a
$20 million 2007 Hope VI award.

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.

Construction (check all that apply):

Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches

Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding

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

Bunce Green Apartments


1430 Distinct Circle
Fayetteville, NC 28314

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

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117 Longview Drive


Fayetteville, NC 28311

Newberry Green-under construction

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 Green Apartments


3143 Round Grove Place
Hope Mills, NC 28348

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.

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Interior Apartment Amenities:


Apartment amenities will include range with hood, garbage disposal, dishwasher, frost free refrigerator, W/D
hookups, mini-blinds, ceiling fans, carpet, vinyl, VCT, storage/pantry, and HVAC. The living room and all
bedrooms will be equipped with telephone jacks and a cable connection. All appliances will meet Energy
Star requirements. All units will be sprinkler fit.

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.

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Applicant's Site Evaluation


Briefly describe your site in each of the following categories:

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.

SURROUNDING LAND USES AND AMENITIES

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.

Similarity of scale and aesthetics/architecture between project and surroundings.


The buildings will be designed to reflect the historic nature of the downtown area such as the Transportation
Museum building, the Cape Fear and Yadkin Valley station, Liberty Point and Bow Street Commons. The
one three-story building will be part of a four building roundabout. The additional three three-story buildings
are part of Phase II.

For each applicable neighborhood feature, enter distance from project in miles.

1.2 Grocery Store .6 Community/Senior Center

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1.2 Mall/Strip Center 1.3 Hospital

1 Outdoor Athletic 1.4 Pharmacy


Fields

0.6 Day Care/After 1.3 Basic Health Care


School

.1 Public Transportation
1 Schools
Stop

0.7 Convenience Store .1 Public Parks

0.7 Gas Station 1.1 Library

Other facilities or services:


Fire Station .1 miles
Restuarants .9 miles
The public transportation stop is actually at the entrance to Campbell Terrace.

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Preliminary App Checklist

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).

https://www.nchfa.org/Rental/RTCApp/(S(hqv0ln45ff...C244E934086&SNID=9D193415E6084262BB3514695D645E95 (23 of 23)4/8/2009 3:48:57 PM

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