Print Preview - Preliminary Application: Project Description

Print - APP09-0120
Print Preview - Preliminary

Application
Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans
Project Description
Project Name: Bellemont Oaks
Address: Lowes Drive (SE corner of intersection of US 15-501 & US 64 by-pass)
City: Pittsboro County: Chatham Zip: 27312
Census Tract: 208 Block Group: 1
Is project in Qualified Census Tract or Difficult to Develop Area? No

Are you requesting the basis boost under section II(E)(4) of the QAP? Yes
Political Jurisdiction: Town of Pittsboro

First:William Last:
Jurisdiction CEO Name: Title: Town Manager
Terry
Jurisdiction Address: 635 East Street
Jurisdiction City: Pittsboro Zip: 27312
Jurisdiction Phone: (919)542-4621
Site Latitude: 35.7451
Site Longitude: -79.1644
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? No

Will the project use steel and concrete construction and have at least 4 stories? No
https://www.nchfa.org/Rental/RTCApp/(S(x0knsd45...42C157911&SNID=AA2CBFFE05A04F9085BB86AC9B8B6896 (1 of 21)4/14/2009 2:01:42 PM

Print - APP09-0120
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? No
If yes, provide the subsidy source: and number of units:

Print - APP09-0120
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: NCHF Affordable Housing Corp.
Address: 8 West Third Street, Suite 565
City: Winston-Salem State: NC Zip: 27101

Contact: First: John Last:Nichols Title:Executive Director
Telephone: (336)725-3568
Alt Phone:
Fax: (336)765-3909
Email Address: sean.beismann@mvg.com

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

Print - APP09-0120
Site Description
Total Site Acreage: 6.46 Total Buildable Acreage: 6.46

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:
There is no required demolition. This note applies to the water and sanitary sewer availability noted above.
The seller of the site is required to extend the road and all utilities to the site. Cost to extend will be the
responsibility of the seller. Regarding capacity, the Town of Pittsboro currently has a moratorium on
approval of new major subdivisions and PUDs due to problems with the existing processing plant. The
Town has addressed this with the planned construction of a new facility and will be upgrading existing
facilities in order to solve their immediate concerns. As part of an agreement with developers to fund the
cost of the upgrades, there will be capacity available to those developers. Bellemont Oaks will be covered
by the capacity created by the upgrades.
Are existing buildings on the site currently occupied? No

If yes:
(a) Briefly describe the situation:
(b) Will tenant displacement be temporary?

(c) Will tenant displacement be permanent?
Is the site directly accessed by an existing, paved, publicly maintained road? No

If no, please explain:
The site will be accessed by the extension of Lowes Drive into the Bellemont Pointe PUD. The seller will be
responsible for completion of the road, which will be dedicated as a public road.
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:

Print - APP09-0120
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:

Print - APP09-0120
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?No
If yes, specify the relationship:
(c) Enter the current expiration date of the option/contract to purchase: 12/31/2009
(D) Enter Purchase Price: 648,000

Print - APP09-0120
Zoning
Present zoning classification of the site:MUPD
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?Yes
If yes, have the hearings been completed and permits been obtained?No
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for
obtaining them:
The site is located within the Bellemont Pointe PUD. The zoning is mixed use planned development
(MUPD) and included in the MUPD is a multi-family component. The Bellemont Oaks site is located within
the MUPD site plan on the area designated for multi-family use. The site will require site plan approval and
will need to be parceled out of the larger multi-family area, however, from a land use designation, multi-
family is designated for this area. The availability of sewer capacity is currently governing the ability to
subdivide the tract and a discussion of the sewer capacity is addressed in the site description section of this
preliminary application.
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:

Print - APP09-0120
Ownership Entity
Owner Name: Bellemont Oaks, LLC

Address: 9349 WaterStone Boulevard
City: Cincinnati State:OH Zip: 45249
Federal Tax ID Number of Ownership Entity: 26-2453972 (If assigned)

Note: Do not submit social security numbers for individuals.
Entity Type: Limited Liability Company
Entity Status: Already Formed
Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? Yes
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: Miller-Valentine Apartments III LLC (to-be-formed subsidiary of)

First Name: Brian Last Name: McGeady Function: Managing Member
Address: 9349 WaterStone Boulevard
City: Cincinnati State: OH Zip: 45249
Phone: (513)588-1000 Fax: (937)913-5452
EMail: brian.mcgeady@mvg.com Nonprofit: No
Org: NCHF Affordable Housing Corp. (to-be-formed subsidiary of)

First Name: John Last Name: Nichols Function: Member
Address: 8 West Third Street, Suite 565
City: Winston-Salem State: NC Zip: 27101
Phone: (336)725-3568 Fax: (336)765-3909
EMail: jnichols@nchsm.org Nonprofit: Yes

Print - APP09-0120
Unit Mix
The Median Income for Chatham county is $71,300.
Low Income Units
Total # Monthly Utility Mandatory **Total

Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.
Gdn Apt 1 710 2 1 294 107 0 401
Gdn Apt 1 710 3 0 450 107 0 557
Gdn Apt 1 710 3 0 475 107 0 582
Gdn Apt 2 943 10 1 340 141 0 481
Gdn Apt 2 943 14 1 600 141 0 741
Gdn Apt 2 943 16 2 625 141 0 766
Gdn Apt 3 1153 6 1 388 168 0 556
Gdn Apt 3 1153 9 1 650 168 0 818
Gdn Apt 3 1153 9 1 675 168 0 843
Utilities included in rents: Water/Sewer Electric Gas Other Waste Removal
Employee Units (will add to Low Income Unit total)

Utilities included in rents: Water/Sewer Electric Gas Other
Market Rate Units

Utilities included in rents: Water/Sewer Electric Gas Other
Statistics
All Gross Monthly

Units Units Rental Income
Low Income....... 72 8 39416
Market Rate.......
Totals............... 72 8 39416

Print - APP09-0120
Proposed number of residential buildings: 9 Maximum number of stories in buildings: 2
Project Includes:
Separate community building - Sq. Ft. (Floor Area): 1,611
Community space within residential bulding(s) - Sq. Ft. (Floor Area):
Elevators - Number of Elevators:
Square Footage Information
Gross Floor Square Footage: 91,995
Total Net Sq. Ft. (All Heated Areas): 72,448
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: 72
Number of Units Required: 8

Persons with disabilities or homeless populations.
Number of Units: 8
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.

Print - APP09-0120
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 %
1 2 targeted at 30 percent of median income affordable to/occupied by
Total Low Income Units: 72
Note: This number should match the total number of low income units in the Unit Mix section.

Print - APP09-0120
Funding Sources
Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service
Bank Loan 1,445,000 7.50 18 30 121,244
RPP Loan
Local Gov. Loan - Specify:
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan 432,000 ✔ 0.00 30 30
Other Loan 1 - Specify:
Tax Exempt Bonds
State Tax Credit(Loan) 1,156,990 0 30 30 0
State Tax Credit(Direct Refund)
Equity: Federal LIHTC 7,281,746
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees 73,699
Owner Investment
Other - Specify:
Total Sources** 10,389,435
* "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. 70
Remarks concerning project funding sources:

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

Print - APP09-0120
A Federal Home Loan Bank (FHLB) award was received December 2007. The intention of the FHLB
award is to enter into a 4-party agreement between the FHLB, Member Bank, NCHF Affordable
Housing Corp. (Non-profit) and the Limited Liability Company (Owner). The awarded funds will flow
to the Member Bank, who will, in turn, grant the funds to the Non-profit. A promissory note will be
payable from the Owner to both the Non-profit and the Member Bank. The payment(s) on the
promissory note, if made, will be from available cash flow only. The balance of the loan is projected
to be paid off with a balloon payment at the end of the loan's term or upon refinancing. The note and
mortgage will be structured as a zero percent interest loan with a 30-year term from the sponsor to
the owner.
Loans with Variable Amortization

Please fill in the annual debt service as applicable for the first 20 years of the project life.
AHP Loan
1 2 3 4 5 6 7 8 9 10
Year:
Amt: 0 0 0 0 0 0 0 0 0 0
Year: 11 12 13 14 15 16 17 18 19 20
Amt: 0 0 0 0 0 0 0 0 0 0

Print - APP09-0120
Development Costs
Eligible Basis
Item Cost Element TOTAL COST
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only) 0
2 Demolition (Rehab / Adaptive Reuse only) 0 0
3 On-site Improvements 1,440,000 1,440,000
4 Rehabilitation 0 0
5 Construction of New Building(s) 4,319,928 4,319,928
6 Accessory Building(s) 100,000 100,000
7 General Requirements (max 6% lines 2-6) 351,595 351,595
8 Contractor Overhead (max 2% lines 2-7) 124,230 124,230
9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest) 372,691 372,691
10 Construction Contingency (max 5% lines 2-9, Rehabs 10%) 335,422 335,422
11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 140,877 140,877
12 Architect's Fee - Inspection 70,438 70,438
13 Engineering Costs 80,000 80,000
SUBTOTAL (lines 1 through 13) 7,335,181
14 Construction Insurance (prorate) 36,000 36,000
15 Construction Loan Orig. Fee (prorate) 83,220 83,220
16 Construction Loan Interest (prorate) 399,457 399,457
17 Construction Loan Credit Enhancement (prorate) 0 0
18 Construction Period Taxes (prorate) 10,000 10,000
19 Water, Sewer and Impact Fees 424,800 424,800
20 Survey 7,500 7,500
21 Property Appraisal 10,000 10,000
22 Environmental Report 11,460 11,460
23 Market Study 4,300 4,300
24 Bond Costs 0
25 Bond Issuance Costs 0
26 Placement Fee 0
27 Permanent Loan Origination Fee 28,900
28 Permanent Loan Credit Enhancement 0

Print - APP09-0120
29 Title and Recording 40,962
SUBTOTAL (lines 14 through 29) 1,056,599
30 Real Estate Attorney 0 0
31 Other Attorney's Fees 50,000 50,000
32 Tax Credit Application Fees (Preliminary and Full) 2,300
33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 71,733
34 Cost Certification / Accounting Fees 20,000 20,000
35 Tax Opinion 0
36 Organizational (Partnership) 20,000
37 Tax Credit Monitoring Fee 50,400
SUBTOTAL (lines 30 through 37) 214,433
38 Furnishings and Equipment 72,000 72,000
39 Relocation Expense 0 0
40 Developer's Fee 756,000 756,000
41 Additional Contigency (greater of $500/unit or $30,000) 36,000 36,000
42 Other Basis Expense (specify) 0 0
43 Other Basis Expense (specify) 0 0
44 Rent-up Expense 0
45 Other Non-basis Expense (specify) 0
46 Other Non-basis Expense (specify) 0
SUBTOTAL (lines 38 through 45) 864,000
47 Rent up Reserve 72,000
48 Operating Reserve 199,222
49 Other Reserve (specify) 0
50 Other Reserve (specify) 0
51 DEVELOPMENT COST (lines 1-49) 9,741,435 0 9,255,918
52 Less Federally Funded Grant 0 0
53 Less Disproportionate Standard 0 0
54 Less Nonqualified Nonrecourse Financing 0 0
55 Less Historic Tax Credit 0 0
56 TOTAL ELIGIBLE BASIS 9,255,918 0 9,255,918
57 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%

Print - APP09-0120
58 Basis Before Boost 9,255,918 0 9,255,918
59 Basis Boost of up to 130% 110.00% 125.00%
60 TOTAL QUALIFIED BASIS 11,569,898 0 11,569,898
61 Tax Credit Rate 3.50 9.00
62 Federal Tax Credits (maximum $1,300,000) 1,041,291 0 1,041,291
63 Federal Tax Credits Requested (if less than line 62) 0
64 Land Cost 648,000
65 TOTAL REPLACEMENT COST 10,389,435
FEDERAL TAX CREDITS IF AWARDED 1,041,291
Comments:
Project Development Cost per unit 59,999

Print - APP09-0120
Market Study Information

Please provide a detailed description of the proposed project:
Bellemont Oaks will be a 72 unit garden apartment community serving the needs for affordable housing in
Pittsboro, NC. The Town of Pittsboro is feeling the pressures from growth in the Triangle region, and
predictions are for the town population to grow significantly in the next several years. Master planned
communities including Powell Place and Briar Chapel will bring several thousand new residents to the area.
New retail is under development and proposed on both Highway 15-501 and Highway 64. Much of this
growth is in upscale residential serving the employment centers of the Research Triangle Park and
University of North Carolina, leaving the affordable rental market largely unaddressed.
Bellemont Oaks seeks to fill that need with a mix of one, two and three bedroom units broken down as (8) 1-
BR, (40) 3-BR and (24) 3-BR. The mix will accommodate single individuals as well as a large number of 3-
BR units for families. Income targeting will range between 30-60% of Area Median Income also covering a
broad range of affordable needs.
The site is located just South of the intersection of Hwy. 15-501 and the Hwy. 64 Bypass. Being located at
this intersection provides quick access to growing Cary/Apex as well as Chapel Hill. The site is part of
Bellemont Station PUD, which includes retail, office and both attached and single family homes. The
completed portions of Bellemont Station include a Lowe’s Home Improvement store, restaurant, McDonalds
and CVS Pharmacy. Planned are additional office, motel, daycare and grocery. The apartment site within
Bellemont Station is located just off the main entrance to the residential portion of the PUD and an office
component will buffer the apartments from the Lowe’s store. Townhomes are planned opposite the
Bellemont Oaks entrance and additional apartment land is adjoining the East side of the site. The rear
(North) side of the site slopes to a stream buffer providing generous screening along the rear. Across 15-
501 is Powell Place, where many single family homes have been constructed as well as a bank, and
construction is underway for office and retail. There is also a community park to be located there.
Building/Unit Designs:
Buildings will be two-story with eight units per building. Three bedroom units will be accessed from each
end, creating a more private entrance for larger units. Each unit has a porch/balcony with outside storage
area. Siding in the gable areas will be contrasting color and texture to provide architectural interest in
addition to the brick accents.
Units will have open designs, creating flow between the kitchen, dining and living areas. All units will include
washer-dryer hook-ups. Amenities in units include: dishwasher, disposal, ceiling fans, mini-blinds, walk-in
closets and pantry. Units will be constructed to meet Energy Star standards providing residents added
comfort and utility savings.
Site amenities include a playground, tot lot, covered picnic area, seating areas with benches and gazebo.
The community building will have an open area for meetings and TV watching, kitchenette and computer
room as well as an attached laundry.
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:

Print - APP09-0120
Have you built other tax credit developments that use the same building design as this project?Yes
If yes, please provide name and address:
Pinecrest Apartments-3605 Martins Trail Circle, Walkertown, NC
Sherwood Glen-2006 Oakbrook Court, Reidsville, NC
Site Amenities:
Site amenities will include a playground, tot lot, covered picnic area, seating areas and a gazebo. A
community walking trail will run along the Western and Southern borders of the site although this is a PUD
amenity and will not be in the scope of work for Bellemont Oaks.
Onsite Activities:
The community building will have an open area for meetings and TV watching, a kitchenette and computer
room and attached laundry. Outdoor activities will occur at the common area behind the clubhouse. Here,
the playground, tot lot, covered picnic, gazebo and seating areas are centrally located and provide easy
access and supervision. The meeting/activity room in the clubhouse will serve for support services
programs coordinated with local agencies. These services will include employment and homeownership
programs.
Landscaping Plans:
Landscaping will include planting beds at the entrance sign and at the building foundations. Shade trees
and ornamental plantings will be incorporated around parking areas and in the central common area,
specifically at the picnic and play areas.
Interior Apartment Amenities:

Amenities in units include: dishwashers, disposal, ceiling fans, mini-blinds, walk-in closets, washer/dryer
hook ups, and a pantry cabinet. Units will be constructed to meet Energy Star requirements, providing
additional comfort and utility savings to residents.
Do you plan to submit additional market data (market study, etc.) that you want considered? Yes
If yes, please make sure to include the additional information in your pre-application packet.

Print - APP09-0120
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.
Pittsboro is experiencing significant population growth attributed largely to the easy access to job centers in
Chapel Hill and the Research Triangle Park. The site is in a newly developing PUD and will be surrounded
by a mix of new construction. Other properties in the neighborhood include smaller single family homes and
businesses. The site is just South of the intersection of Hwy 15-501 and Hwy 64 bypass with proposals for
new office and retail nearby. The recent improvements of 15-501 to a four-lane road to Chapel Hill has
sparked increased residential and retail development all along the corridor. There is little existing affordable
housing in the area and it is not close to the site.
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. Site use is consistent with the PUD mixed-use elements. The site will
be located off the main highway but will be in the front of the residential area and will have high visibility from
the main drive into the PUD. The Lowe’s Home Improvement store fronting the highway does generate
significant traffic, however, this would have limited effects on commuter trip times and promotes visibility of
the PUD entrance. The proximity to 15-501 and Hwy 64 provides easy access to the job centers and noise
concerns should be mitigated by the required buffer separating them from the site.
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. Site access will be from the main access road serving the Bellemont Station
PUD. This will limit traffic in front of the site to the residential uses within the PUD. The intersection of Lowe’s
Drive and 15-501 is signalized to provide controlled access to the main road. Turn lanes and signals have
been designed to provide for trips generated by the PUD at completion and are adequate for residential
traffic. Mass transit is not currently available in Pittsboro. With the site location in the front of the residential
area, office and retail development in the PUD will provide buffering from main road. Site should be visible
from the traffic signals.
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).
Site is a portion of the larger area designated for apartments within the PUD. The larger site does have a
draw running through it and the Bellemont Oaks site plan has been designed to avoid the steeper portions
of the slope. Noting that fill will be required to provide a level site, the purchase contract requires landowner
to provide adequate fill for balancing the site. Site does border a stream buffer, however, this serves to
provide additional screening from surrounding uses.

Print - APP09-0120
Similarity of scale and aesthetics/architecture between project and surroundings.

Building will be two-story construction that will fit with the single family and town homes to be built on the
remainder of the residential land in the PUD. PUD incorporates the accepted concept of transitioning from
higher intensity of uses near the main corridor to lower intensity uses away from main roads. The apartment
land is well positioned between these areas.
For each applicable neighborhood feature, enter distance from project in miles.
1.7 Grocery Store 5.9 Community/Senior Center
1.7 Mall/Strip Center 14.6 Hospital
.8 Outdoor Athletic 1.7 Pharmacy

Fields
1.0 Day Care/After 1.7 Basic Health Care

School
.8 Public Transportation
Schools
Stop
1.7 Convenience Store 2.5 Public Parks
1.8 Gas Station 1.9 Library
Other facilities or services:

Print - APP09-0120
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).

Print Preview - Preliminary Application: Project Description

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Print Preview - Preliminary Application: Project Description

Uploaded by

Copyright:

Available Formats

Print - APP09-0120

Print Preview - Preliminary

City: Pittsboro County: Chatham Zip: 27312

Census Tract: 208 Block Group: 1

Is project in Qualified Census Tract or Difficult to Develop Area? No

Political Jurisdiction: Town of Pittsboro

Jurisdiction City: Pittsboro Zip: 27312

Jurisdiction Phone: (919)542-4621

Site Latitude: 35.7451

Site Longitude: -79.1644

Project Type: New Construction

Is this project a previously awarded tax credit

New Construction/Adaptive Reuse:

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

Does a community revitalization plan exist? No

https://www.nchfa.org/Rental/RTCApp/(S(x0knsd45...42C157911&SNID=AA2CBFFE05A04F9085BB86AC9B8B6896 (1 of 21)4/14/2009 2:01:42 PM

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

https://www.nchfa.org/Rental/RTCApp/(S(x0knsd45...42C157911&SNID=AA2CBFFE05A04F9085BB86AC9B8B6896 (2 of 21)4/14/2009 2:01:42 PM

City: Winston-Salem State: NC Zip: 27101

Email Address: sean.beismann@mvg.com

https://www.nchfa.org/Rental/RTCApp/(S(x0knsd45...42C157911&SNID=AA2CBFFE05A04F9085BB86AC9B8B6896 (3 of 21)4/14/2009 2:01:42 PM

Total Site Acreage: 6.46 Total Buildable Acreage: 6.46

Storm Sewer Water Sanitary Sewer Electric

Is the demolition of any buildings required or planned? Yes

Are existing buildings on the site currently occupied? No

(b) Will tenant displacement be temporary?

Is the site directly accessed by an existing, paved, publicly maintained road? No

https://www.nchfa.org/Rental/RTCApp/(S(x0knsd45...42C157911&SNID=AA2CBFFE05A04F9085BB86AC9B8B6896 (4 of 21)4/14/2009 2:01:42 PM

https://www.nchfa.org/Rental/RTCApp/(S(x0knsd45...42C157911&SNID=AA2CBFFE05A04F9085BB86AC9B8B6896 (5 of 21)4/14/2009 2:01:42 PM

Purchase Date: Purchase Price:

(D) Enter Purchase Price: 648,000

https://www.nchfa.org/Rental/RTCApp/(S(x0knsd45...42C157911&SNID=AA2CBFFE05A04F9085BB86AC9B8B6896 (6 of 21)4/14/2009 2:01:42 PM

Is multifamily use permitted?Yes

https://www.nchfa.org/Rental/RTCApp/(S(x0knsd45...42C157911&SNID=AA2CBFFE05A04F9085BB86AC9B8B6896 (7 of 21)4/14/2009 2:01:42 PM

Owner Name: Bellemont Oaks, LLC

Federal Tax ID Number of Ownership Entity: 26-2453972 (If assigned)

Org: Miller-Valentine Apartments III LLC (to-be-formed subsidiary of)

Phone: (513)588-1000 Fax: (937)913-5452

EMail: brian.mcgeady@mvg.com Nonprofit: No

Org: NCHF Affordable Housing Corp. (to-be-formed subsidiary of)

Phone: (336)725-3568 Fax: (336)765-3909

EMail: jnichols@nchsm.org Nonprofit: Yes

https://www.nchfa.org/Rental/RTCApp/(S(x0knsd45...42C157911&SNID=AA2CBFFE05A04F9085BB86AC9B8B6896 (8 of 21)4/14/2009 2:01:42 PM

Low Income Units

Total # Monthly Utility Mandatory **Total

Gdn Apt 1 710 2 1 294 107 0 401

Gdn Apt 1 710 3 0 450 107 0 557

Gdn Apt 1 710 3 0 475 107 0 582

Gdn Apt 2 943 10 1 340 141 0 481

Gdn Apt 2 943 14 1 600 141 0 741

Gdn Apt 2 943 16 2 625 141 0 766

Gdn Apt 3 1153 6 1 388 168 0 556

Gdn Apt 3 1153 9 1 650 168 0 818

Gdn Apt 3 1153 9 1 675 168 0 843

Utilities included in rents: Water/Sewer Electric Gas Other Waste Removal

Employee Units (will add to Low Income Unit total)

Total # Monthly Utility Mandatory **Total

Utilities included in rents: Water/Sewer Electric Gas Other

Market Rate Units

Total # Monthly Utility Mandatory **Total

Utilities included in rents: Water/Sewer Electric Gas Other

All Gross Monthly