You are on page 1of 25

Print Preview - Full Application

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

Project Description
Project Name: Rosedale Phase II Address: City: 121 Holly Lane Forest City County: Rutherford Zip: 28043 Block Group: 2004

Census Tract: 9608

Is project in Qualified Census Tract or Difficult to Develop Area? Yes Political Jurisdiction: Jurisdiction Address: Jurisdiction City: Jurisdiction Phone: Town of Forest City Last: Gibson Title: Mayor 128 N. Powell Street Forest City (828)248-5202 Zip: 28043

Jurisdiction CEO Name: First: James

Site Latitude: Site Longitude:

35.33 -81.87

Project Type: Rehab New Construction/Adaptive Reuse: Is this project a follow-on (Phase II, etc) to a previously-awarded tax credit development project? If yes, list names of previous phase(s): Rehab: Is this project a previously awarded tax credit development? No If yes, what year were credits awarded?: Number of residents holding Section 8 vouchers: 0 Will the project meet Energy Star standards as defined in Appendix B? No Does a community revitalization plan exist? No Will the project use steel and concrete construction and have at least 4 stories? No Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77? No If yes, please describe:

Target Population: Elderly (RHS/HUD) Will the project be receiving project based federal rental assistance? Yes If yes, provide the subsidy source: RD and number of units: 24 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: 2 Persons with disabilities or homeless populations: the greater of 5 units or 10% of the total units. Number of Units: 5 Remarks:

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: Address: City: Contact: Telephone: Alt Phone: Fax: Email Address: (704)321-1562 Southland Partners LLC 131 Matthews Station Street, Suite 2-F Matthews First: Tom (704)321-1526 State: NC Zip: 28105 Last: Honeycutt Title:

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

Site Description
Total Site Acreage: 3.5 Total Buildable Acreage: 3.5 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? No If yes, please describe:

Are existing buildings on the site currently occupied? Yes If yes: (a) Briefly describe the situation: This is a fully occupied Rural Development elderly property in need of rehab. No relocation or demolition will be required in order to complete the rehab.

(b) Will tenant displacement be temporary? No (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:

(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: Purchase Date: 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:

Purchase Price:

(c) Enter the current expiration date of the option/contract to purchase: 11/15/2007 (D) Enter Purchase Price: 300,000

Present zoning classification of the site: MF 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:

Ownership Entity
Owner Name: Rosedale Phase II Housing LLC Address: City: 131 Matthews Station Street, Suite 2-F Matthews State: NC Zip: 28105 (If assigned)

Federal Tax ID Number of Ownership Entity:

Note: Do not submit social security numbers for individuals. Entity Type: Limited Liability Company Entity Status: To Be Formed Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? Is the applicant requesting that the Agency treat the application as CHDO sponsored?

No No

List all general partners, members,and principals. Specify nonprofit corporate general partners or members. Click [Add] to add additional partners, members, and principals.


Southland Partners LLC Last Name: Honeycutt Function: Managing Member

First Name: Tom Address: City: Phone: EMail:

131 Matthews Station Street, Suite 2-F Matthews (704)321-1526 State: NC Zip: 28105

Fax: (704)321-1562 Nonprofit: No


Thomas W. Honeycutt Last Name: Honeycutt Function: Principal

First Name: Tom Address: City: Phone: EMail:

131 Matthews Station Street, Suite 2-F Matthews (704)321-1526 State: NC Fax: (704)321-2562 Nonprofit: No Zip: 28105


Gary D. Ellis Last Name: Ellis Function: Principal

First Name: Danny Address: City: Phone: EMail: 2021 Cross Beam Drive Charlotte (704)357-6000

State: NC Fax: (704)357-1881 Nonprofit: No

Zip: 28217


Melvin B. Melton Last Name: Melton Function: Principal

First Name: Mel Address: City: Phone: 2021 Cross Beam Drive Charlotte (704)357-6000

State: NC Fax: (704)357-1881

Zip: 28217


Nonprofit: No


Timothy L. Gunderman Last Name: Gunderman Function: Principal

First Name: Tim Address: City: Phone: EMail: 2021 Cross Beam Drive Charlotte (704)357-6000

State: NC Fax: (704)357-1881 Nonprofit: No

Zip: 28217

Unit Mix
The Median Income for Rutherford county is $47,100. Low Income Units Type Gdn Apt Gdn Apt # BRs Net Sq.Ft. 1 1 600 600 Total # Units 10 14 # Units 2 0 Monthly Rent 415 415 Electric Utility Allowance 95 95 Gas Mandatory Serv. Fees 0 0 Other trash pickup **Total Housing Exp. 510 510

Utilities included in rents:


Employee Units (will add to Low Income Unit total) Type # BRs Net Sq.Ft. Total # Units # Units Monthly Rent Electric Utility Allowance Gas Other Mandatory Serv. Fees **Total Housing Exp.

Utilities included in rents:


Market Rate Units Type # BRs Net Sq.Ft. Total # Units # Units Monthly Rent Utility Allowance Gas Other Mandatory Serv. Fees **Total Housing Exp.

Utilities included in rents:



Statistics All Units Low Income....... Market Rate....... Totals............... 24 2 9960 24 Gross Monthly Rental Income 9960

Units 2

Proposed number of residential buildings: 6 Project Includes:

Maximum number of stories in buildings: 1

Separate community building - Sq. Ft. (Floor Area): Community space within residential bulding(s) - Sq. Ft. (Floor Area): 1,000 Elevators - Number of Elevators: Square Footage Information Gross Floor Square Footage: 15,400

Total Net Sq. Ft. (All Heated Areas): 14,630

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.

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 1 1 10 14

Units targeted at 50 targeted at 60

% percent of median income affordable to/occupied by percent of median income affordable to/occupied by

Total Low Income Units:


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

Funding Sources
NonAmortizing* 0 0 0 320,000 0 0 0 0 0 0 198,396 0 1,374,499 0 0 0 0 0 1,892,895 0 30 30 0 1.00 30 50 8,135 Rate (%) Term (Years) Amort. Period (Years) Annual Debt Service

Source Bank Loan RPP Loan Local Gov. Loan - Specify: 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) State Tax Credit(Direct Refund) Equity: Federal LIHTC Non-Repayable Grant Equity: Historic Tax Credits Deferred Developer Fees Owner Investment Other - Specify: Total Sources**


* "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. 85 Remarks concerning project funding sources: (Please be sure to include the name of the funding source(s)) the RD 515 amount shown is the approximate mortgage balance. The actual annual payment to be assumed is greater than that calculated by the spreadsheet. Tax credit pricing is set at the agencies published minimum even though we have a current pricing slightly more. We feel, and the market indicates that the pricing may continue downward from the pricing we have currently, hence our use of the agencies minimum.

Development Costs
Item Cost Element 1 Purchase of Building(s) (Rehab / Adaptive Reuse only) 2 Demolition (Rehab / Adaptive Reuse only) 3 On-site Improvements 4 Rehabilitation 5 Construction of New Building(s) 6 Accessory Building(s) 7 General Requirements 8 Contractor Overhead 9 Contractor Profit 10 Construction Contingency 11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 12 Architect's Fee - Inspection 13 Engineering Costs SUBTOTAL (lines 1 through 13) 14 Construction Insurance (prorate) 15 Construction Loan Orig. Fee (prorate) 16 Construction Loan Interest (prorate) 17 Construction Loan Credit Enhancement (prorate) 18 Construction Period Taxes (prorate) 19 Water, Sewer and Impact Fees 20 Survey 21 Property Appraisal 22 Environmental Report 23 Market Study 24 Bond Costs 25 Bond Issuance Costs 26 Placement Fee 27 Permanent Loan Origination Fee 28 Permanent Loan Credit Enhancement 29 Title and Recording SUBTOTAL (lines 14 through 29) 30 Real Estate Attorney 31 Other Attorney's Fees 32 Tax Credit Application Fees (Preliminary and Full) 33 Tax Credit Allocation Fee (0.58% of line 59, minimum $7,500) 34 Cost Certification / Accounting Fees 35 Tax Opinion 36 Organizational (Partnership) 37 Tax Credit Monitoring Fee SUBTOTAL (lines 30 through 37) 38 Furnishings and Equipment 39 Relocation Expense 40 Developer's Fee 41 42 44 45 Other Basis Expense (specify) Other Basis Expense (specify) 2,400 Other Non-basis Expense (specify) Other Non-basis Expense (specify) 252,000 252,000 13,200 60,933 15,600 15,600 2,200 15,583 4,950 2,000 102,762 23,000 23,000 9,000 6,500 4,000 4,200 9,000 6,500 4,000 4,200 13,750 65,312 13,750 65,312 1,408,000 54,759 19,348 77,393 63,849 12,800 3,200 54,759 19,348 77,393 63,849 12,800 3,200 84,000 798,651 38,000 84,000 798,651 38,000 TOTAL COST 256,000 Eligible Basis 30% PV 70% PV 256,000

43 Rent-up Expense

SUBTOTAL (lines 38 through 45) 46 Rent up Reserve 47 Operating Reserve 48 49 Other Reserve (specify) Other Reserve (specify)

270,000 7,200

50 DEVELOPMENT COST (lines 1-49) 51 Less Federal Financing 52 Less Disproportionate Standard 53 Less Nonqualified Nonrecourse Financing 54 Less Historic Tax Credit (residential) 55 TOTAL ELIGIBLE BASIS 56 Applicable Fraction (percentage of LI Units) 57 Basis Before Boost 58 Boost for QCT/DDA (if applicable, enter 130%) 59 TOTAL QUALIFIED BASIS 60 Tax Credit Rate 61 Federal Tax Credits at Estimated Rate 62 Federal Tax Credits at 8.5% or 3.75% Max Federal Tax Credits (With Energy Star - Lesser of $8,500 per unit or 63 $800,000, w/o - Lesser of $8,000 per unit or $800,000) 64 Federal Tax Credits Requested 65 Land Cost 66 TOTAL REPLACEMENT COST FEDERAL TAX CREDITS IF AWARDED




0 1,801,362 100.00% 1,801,362 2,341,770 173,303 183,242 192,000 161,722 44,000 1,892,895 183,242 0 161,722 256,000 100% 256,000 130.00% 332,800 3.48 11,581 12,480 1,545,362 100% 1,545,362 130.00% 2,008,970 8.05 161,722 170,762

Comments: Please note that the total credits requested is well below $250,000 and that there is no development fee claimed on the acquisition.

Total Replacement Cost per unit: Federal Tax Credits (line 62) per unit:

76,737 7,635

Market Study Information

Please provide a detailed description of the proposed project: Rosedale II is an existing 24 unit elderly development financed by USDA Rural Development with 24 units of rental assistance. It is fully occupied at this time and in need of rehabilitation.

Construction (check all that apply): Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches

Front Gables or Dormers Other:

Wide Banding or Vertical/Horizontal Siding

Have you built other tax credit developments that use the same building design as this project? No If yes, please provide name and address:

Site Amenities: gazebo, expanded community room with tv viewing and space for activities,on site office,

Onsite Activities: Those generally associated with an elderly site are to be expanded based on the increased space available in the community room.

Landscaping Plans: The existing landscaping will be clean up, additions made where needed, pruning, seeding and new bedding as needed. A gazebo will be added and a new site sign.

Interior Apartment Amenities:

new and updated light fixtures and plumbing, new cabinets, vanities and countertops, floor covering replacement, new door hardware, some new appliances, new HVAC at 13 seer, new mini blinds, new emergency alarms

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.

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. Concentration of affordable housing. Forest City is a stable rural town not far from the I40 corridor undergoing growth after a period of time recovering from major changes in the areas employment base. Rosedale II is an established development for the elderly needing rehabilitation in order to maintain its viability and continue to provide affordable housing for the elderly in the community.

SURROUNDING LAND USES AND AMENITIES Suitability of surrounding development. Land use pattern is residential in character (single and multifamily housing) with a balance of other uses (particularly retail and amenities). 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 surrounding property is primarily single family residential with an adjacent multifamily site. There are no incopatible or detrimental uses in the area. SITE SUITABILITY Adequate traffic controls (stop lights, speed limits, turn lanes, etc.). 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. This is not a high traffic community so no such problems exist. Adequate traffic constrols are in place. 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). There are no negative features or physical barriers.

Similarity of scale and aesthetics/architecture between project and surroundings. The development blends well with it's surroundings.

For each applicable neighborhood feature, enter distance from project in miles. 1.5 1.25 Grocery Store Mall/Strip Center Outdoor Athletic Fields Day Care/After School 1.5 2.5 Community/Senior Center Hospital Pharmacy Basic Health Care




Medical Offices Bank/Credit Union Restaurants Professional Services Movie Theater Video Rental

Public Transportation Stop 1.5 1.25 Convenience Store Basketball/Tennis Courts 2 1.25 4 Public Parks Gas Station Library Fitness/Nature Trails Public Swimming Pools Other facilities or services: 2 2 1 1

Public Safety (Fire/Police) Post Office

Development Team
Provide contact information for development team members below: Management Agent Company: GEM Management Inc. Address: City: Phone 2021 Crossbeam Drive Charlotte (704)357-6000 State: NC Zip: 28271 Email: Last: Ellis

Contact Name: First: Danny

Architect Company: Address: City: Phone

Peyton Holiman 8321 Harps Mill Road Raleigh (919)845-1186 State: NC Zip: 27615 Email: Last: Holiman

Contact Name: First: Peyton

Attorney Company: Address: City: Phone

The Pryzwansky Law Firm PO Box 2475 Raleigh (919)828-8668 State: NC Zip: 27602 Email: Last: Pryzwansky

Contact Name: First: David

Investor Company: Address: City: Phone

Boston Capital One Boston Place Boston (617)624-8999 State: MA Zip: 02108-4406 Email: Last: Winner

Contact Name: First: Olga

Consultant/Application Preparer (if different from developer) Company: Address: City: Phone Contact Name: First: State: Email: Last: Zip:

Identity of Interest? General Contractor Company: S H Efiird Construction Co. Address: City: Phone 29265 Sweet Home Church Road Albemarle (704)985-5151 State: NC Zip: 28001 Email: Last: Efird

Contact Name: First: Heath

Projected Operating Costs

Project Operations (Year One) Administrative Expenses Advertising Office Salaries Office Supplies Office or Model Apartment Rent Management Fee Manager or Superintendent Salaries Manager or Superintendent Rent Free Unit Legal Expenses (Project) Auditing Expenses (Project) Bookkeeping Fees/Accounting Services Telephone and Answering Service Bad Debts Other Administrative Expenses (specify): SUBTOTAL Utilities Expense Fuel Oil Electricity (Light and Misc. Power) Water Gas Sewer SUBTOTAL Operating and Maintenance Expenses Janitor and Cleaning Payroll Janitor and Cleaning Supplies Janitor and Cleaning Contract Exterminating Payroll/Contract Exterminating Supplies Garbage and Trash Removal Security Payroll/Contract Grounds Payroll Grounds Supplies Grounds Contract Repairs Payroll Repairs Material Repairs Contract Elevator Maintenance/Contract Heating/Cooling Repairs and Maintenance Swimming Pool Maintenance/Contract Snow Removal Decorating Payroll/Contract Decorating Supplies Other (specify): Miscellaneous Operating & Maintenance Expenses SUBTOTAL Taxes and Insurance Real Estate Taxes Payroll Taxes (FICA) 27,288 13,815 2,015 1,000 1,000 2,000 1,500 2,000 5,184 9,164 2,500 1,440 600 320 6,330 600 300 25,128 800 72 4,000 12,096 6,796 500


5,650 360

Miscellaneous Taxes, Licenses and Permits Property and Liability Insurance (Hazard) Fidelity Bond Insurance Workmen's Compensation Health Insurance and Other Employee Benefits Other Insurance: SUBTOTAL Supportive Service Expenses Service Coordinator Service Supplies Tenant Association Funds Other Expenses (specify): SUBTOTAL Reserves Replacement Reserves SUBTOTAL TOTAL OPERATING EXPENSES ADJUSTED TOTAL OPERATING EXPENSES (Does not include taxes, reserves and resident support services) * TOTAL UNITS (from total units in the Unit Mix section) PER UNIT PER YEAR

300 6,136 300


0 6,002 6,002 87,314 67,497 24 2,812

Projected Cash Flow Year One

OPERATING INCOME Gross rental income (from Unit Mix - Total Monthly Rent) Stores and Commercial Laundry and Vending Other (specify): 119,520

Total Gross Income Potential at 100% Occupancy Seven Percent Vacancy Allowance NET RENTAL/OTHER INCOME TOTAL OPERATING EXPENSES (from Projected Operating Costs) NET OPERATING INCOME DEBT SERVICE (from Funding Sources Loans) NET CASH FLOW DEBT COVERAGE RATIO (Must not be less than 1.15)

119,520 8,366 111,154

87,314 23,840


15,705 2.931

20-Year Cash Flow

Year Net Rental/Other Income* Total Operating Expenses* Debt Service Net Cash Flow Debt Coverage Ratio Year Net Rental/Other Income* Total Operating Expenses* Debt Service Net Cash Flow Debt Coverage Ratio 1 111,154 87,314 8,135 15,705 2.931 11 149,383 129,247 8,135 12,001 2.475 2 114,489 90,807 8,135 15,547 2.911 12 153,864 134,417 8,135 11,312 2.391 3 117,924 94,439 8,135 15,350 2.887 13 158,480 139,794 8,135 10,551 2.297 4 121,462 98,217 8,135 15,110 2.857 14 163,234 145,386 8,135 9,713 2.194 5 125,106 102,146 8,135 14,825 2.822 15 168,131 151,201 8,135 8,795 2.081 6 128,859 106,232 8,135 14,492 2.781 16 173,175 157,249 8,135 7,791 1.958 7 132,725 110,481 8,135 14,109 2.734 17 178,370 163,539 8,135 6,696 1.823 8 136,707 114,900 8,135 13,672 2.681 18 183,721 170,081 8,135 5,505 1.677 9 140,808 119,496 8,135 13,177 2.62 19 189,233 176,884 8,135 4,214 1.518 10 145,032 124,276 8,135 12,621 2.551 20 194,910 183,959 8,135 2,816 1.346

* Net Rental Income escalated at annual rate of 3% and expenses escalated at a rate of 4% after the first year.

1. "Net Rental/Other Income" comes from 1st-year cash flow, then it is escalated by 3% per year. 2. "Total Operating Expenses" comes from 1st-year cash flow, then it is escalated by 4% per year. 3. "Debt Service" is the sum of "regular/amortized loan debt service + non-amortizing annual service" as entered by user from Funding Sources section. 4. "Net Cash Flow" is "Net Rental/Other Income" minus "Total Operating Expenses" minus "Debt Service". 5. "Debt Coverage Ratio" is ("Net Rental/Other Income" minus "Total Operating Expenses") divided by "Debt Service".

Minimum Set-Asides
MINIMUM REQUIRED SET ASIDES (No Points Awarded): Select one of the following two options: 20% of the units are rent restricted and occupied by households with incomes at or below 50% of the median income (Note: No Tax Credit Eligible Units in the the project can exceed 50% of median income) 40% of the units are rent restricted and occupied by households with incomes at or below 60% of the median income (Note: No Tax Credit Eligible Units in the the project can exceed 60% of median income) If requesting RPP funds: 40% of the units are occupied by households with incomes at or below 50% of median income.

State Tax Credit and QAP Targeting Points: Low Income County: At least forty percent (40%) of qualified units will be affordable to households with incomes at or below fifty percent (50%) of county median income. At least forty percent (40%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent (50%) of county median income.

Tax Exempt Bonds Threshold requirement (select one): At least ten percent (10%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent (50%) of county median income. At least five percent (5%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent (40%) of county median income. Eligible for targeting points (select one): At least twenty percent (20%) of qualified units will be affordable to and occupied by households with incomes at or below fifty percent (50%) of county median income. At least ten percent(10%) of qualified units will be affordable to and occupied by households with incomes at or below forty percent (40%) of county median income.

Full Application Checklist

PLEASE indicate which of the following exhibits are attached to your application. Others may be required as noted. A Nonprofit Organization Documentation or For-profit Corporation Documentation B Current Financial Statements/Principals and Owners (signed copies) C Ownership Entity Agreement, Development Agreement or any other agreements governing development services D Management Agent Agreement E Owner and Management Experience & Management Questionnaire (Appendix C) F Letters from State Housing Agencies or designated monitoring agent verifying out of state experience G Completed IRS Form 8821 (Appendix I) H Local Government Letter or Letter from Certified Engineer or Land Surveyor Confirming Floodplain Designation with Map showing all flood zones (original on letterhead, no fax or photocopies) I Local Government Letter Confirming Zoning including any pending notices or hearings (original on letterhead, no fax or photocopies) J Letters from Local Utility Providers regarding availability and capacity (original on letterhead, no fax or photocopies) K Documentation from utility company or local PHA to support estimated utility costs L Appraisal (required for land costs greater than $15,000 and for all Adaptive Re-use and Rehab projects) M Site plan, floor plans and elevations for all projects. Scope of work for Adaptive Re-use and Rehab projects. (Full Size, 24 x 36 inches) N Hazard and structural inspection and termite reports (Adaptive Re-use and Rehab projects only) O Copy of certificate of occupancy or proof of placed-in-service date (Rehabs Only) P Proposed Relocation Plan including relocation budget and copies of notices. Required for all Rehabs and any projects involving existing occupants of any dwellings to be rehabbed or demolished. Q Evidence of Permanent Loan Commitment and other sources of funds ( i.e. Equity letter, AHP, RD and local government funds). For Rehabs with existing loans provide 1) copies of loan documents, 2) current loan balances from existing lenders with reserve balances, 3) letter from lender that outlines assumption requirements. R Local Housing Authority Agreement and Project Based Rental Assistance Letter, if applicable (Sample letters provided in Appendix I). For projects with existing PBRA contracts, provide a copy of the current contract and bank statement or other documentation verifying reserve balances and annual reserve contribution requirements. S Statement regarding terms of Deferred Developer Fee. If a nonprofit is involved, a resolution from their board approving deferral of fee is required. T Inducement Resolution (Tax-Exempt Bond Financed Projects only)