Krefeld Drive Apartments

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Print Preview - Preliminary

Application
Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans
Project Description
Project Name: Krefeld Drive Apartments
Address: 2500 Margaret Wallace Road
City: Charlotte County: Mecklenburg Zip: 28105
Census Tract: 57 Block Group: 11
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: City of Charlotte

First:Patrick Last:
Jurisdiction CEO Name: Title: Mayor
McCrory
Jurisdiction Address: 600 E. Fourth St.
Jurisdiction City: Charlotte Zip: 28202
Jurisdiction Phone: (704)336-2241
Site Latitude: 35.16318
Site Longitude: -80.73404
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
https://www.nchfa.org/Rental/RTCApp/(S(mafdhj45s...D4D544E449&SNID=EBA7613B55B74EFEB458E64EFC4C3775 (1 of 21)4/8/2009 2:02:22 PM

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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: 10

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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: Charlotte Housing Authority
Address: 1301 South Boulevard
City: Charlotte State: NC Zip: 28203

Contact: First: J. Last:Daniels Title:Development Officer
Telephone: (704)336-5240
Alt Phone:
Fax: (704)336-7767
Email Address: jdaniels@cha-nc.org

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

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Site Description
Total Site Acreage: 9.60 Total Buildable Acreage: 7.10

If buildable acreage is less than total acreage, please explain:
The total acreage of the site 9.6 acres. A portion of the site is located within a 100-year floodplain with the
presence of McAlpine Creek, a small tributary. Per city and county code, a 100' buffer exists to protect this
"greenway" area and prohibit any type of permanent development within the buffer. Therefore, only a
portion of the site is buildable.
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:
A single-family, residential dwelling currently sits on the site with a small barn. These vacant, structures will
require demolition during sitework.
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? Yes
If no, please explain:
Is any portion of the site located inside the 100 year floodplain? Yes
If yes:
(a) Describe placement of project buildings in relation to this area:

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The site has a large topography change. The residential buildings will be located near the highest
elevations of site. The residential buildings, at the rear of the site, will be bounded by retaining walls with
varying heights of twenty to thirty-five feet.
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
The site will not have any improvements within the 100-year floodplain. McAlpine Creek, a small tributary, is
the northwestern boundary of the site. Per city and county code, a 100' buffer exists to preserve the
"greenway" that exists along the creek. Consequently, construction within the 100' buffer is prohibited.

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Site Control
Does the owner have fee simple ownership of the property (site/buildings)?Yes
If yes provide:
Purchase Date: 11/21/2009 Purchase Price: 900,000
If no:
(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?
(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?
If yes, specify the relationship:
(c) Enter the current expiration date of the option/contract to purchase:
(D) Enter Purchase Price:

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Zoning
Present zoning classification of the site:R-12MF (CD)
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?Yes
If yes, describe below:
McAlpine Creek, a small tributary stream, creates the northwest boundary of the site. As a condition of
zoning, the present owners and/or assigns are required to convey the area nearest the stream known as
the "floodway" which is located entirely within the floodplain. This "floodway" is to be conveyed and
incorporated in the Mecklenburg County Greeway System. This system of greenways consists of vegetated
natural buffers that improve water quality, reduce the impacts of flooding, and provide wildlife habitat.
Greenway trails provide recreation, transportation, fitness, and economic benefits for all to enjoy. There are
33 miles of developed and 147 miles of undeveloped greenways in Meckenburg County.

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Ownership Entity
Owner Name: To Be Determined

City: Charlotte State:NC Zip: 28203
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? 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: Charlotte Housing Authority

First Name: Charles Last Name: Woodyard Function: Principal
Phone: (704)336-5221 Fax: (704)336-7767
EMail: jdaniels@cha-nc.org Nonprofit: No
Org: Horizon Development Properties, Inc.

First Name: Charles Last Name: Woodyard Function: Principal
Phone: (704)336-5221 Fax: (704)336-7767
EMail: jdaniels@cha-nc.org Nonprofit: Yes

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Unit Mix
The Median Income for Mecklenburg county is $66,500.
Low Income Units
Total # Monthly Utility Mandatory **Total

Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.
Gdn Apt 1 770 2 3 515 89 0 604
Gdn Apt 2 912 27 5 618 107 0 725
Gdn Apt 3 1117 33 3 707 130 0 837
Gdn Apt 1 675 8 0 270 89 0 359
Gdn Apt 2 912 10 0 320 107 0 427
Gdn Apt 3 1117 10 0 345 130 0 475
Gdn Apt 1 770 1 0 635 89 0 724
Gdn Apt 2 912 6 0 757 107 0 864
Gdn Apt 3 1117 3 0 875 130 0 1005
Utilities included in rents: Water/Sewer Electric Gas Other Trash
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....... 100 11 57659
Market Rate.......
Totals............... 100 11 57659

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Proposed number of residential buildings: 4 Maximum number of stories in buildings: 4
Project Includes:
Separate community building - Sq. Ft. (Floor Area): 1,460
Community space within residential bulding(s) - Sq. Ft. (Floor Area):

2,696
Elevators - Number of Elevators:
Square Footage Information
Gross Floor Square Footage: 102,189
Total Net Sq. Ft. (All Heated Areas): 97,693
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: 10
Number of Units Required: 10

Persons with disabilities or homeless populations.
Number of Units: 10
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 %
1 2 targeted at 50 percent of median income affordable to/occupied by
Total Low Income Units: 100
Note: This number should match the total number of low income units in the Unit Mix section.

Print - APP09-0010
Funding Sources
Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service
Bank Loan 2,250,000 7.50 30 30 188,788
RPP Loan
Local Gov. Loan - Specify:

1,000,000 ✔ 2.00 30 30
Charlotte HTF
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan
Other Loan 1 - Specify:

1,002,684 ✔ 2.00 30 30
CHA-MTW
Tax Exempt Bonds
State Tax Credit(Loan) 1,153,050 0 30 30 0
State Tax Credit(Direct Refund)
Equity: Federal LIHTC 7,770,000
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees
Owner Investment
Other - Specify:
Total Sources** 13,175,734
* "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. 74
Remarks concerning project funding sources:

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

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RBC Centura Conventional Loan, City of Charlotte Housing Trust Fund, Charlotte Housing Authority
MTW Funds, Federal LIHTC, State Tax Credit Loan
Loans with Variable Amortization

Please fill in the annual debt service as applicable for the first 20 years of the project life.
Local Gov. Loan - Charlotte HTF
1 2 3 4 5 6 7 8 9 10
Year:
Amt: 20000 20000 20000 20000 20000 20000 20000 20000 20000 20000
11 12 13 14 15 16 17 18 19 20
Year:
Amt: 20000 20000 20000 20000 20000 20000 20000 20000 20000 20000
Other Loan 1 - CHA-MTW
Year: 1 2 3 4 5 6 7 8 9 10
Amt: 19233 19233 19233 19233 19233 19233 19233 19233 19233 19233
11 12 13 14 15 16 17 18 19 20
Year:
Amt: 19233 19233 19233 19233 19233 19233 19233 19233 19233 19233

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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) 0
2 Demolition (Rehab / Adaptive Reuse only) 0
3 On-site Improvements 1,170,000 0 1,170,000
4 Rehabilitation 0
5 Construction of New Building(s) 7,100,000 0 7,100,000
6 Accessory Building(s) 0
7 General Requirements (max 6% lines 2-6) 340,000 0 340,000
8 Contractor Overhead (max 2% lines 2-7) 170,000 0 170,000
9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest) 510,000 0 510,000
10 Construction Contingency (max 5% lines 2-9, Rehabs 10%) 300,000 0 300,000
11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 325,000 0 325,000
12 Architect's Fee - Inspection 50,000 0 50,000
13 Engineering Costs 55,000 0 55,000
SUBTOTAL (lines 1 through 13) 10,020,000
14 Construction Insurance (prorate) 100,000 0 100,000
15 Construction Loan Orig. Fee (prorate) 25,000 0 25,000
16 Construction Loan Interest (prorate) 100,000 0 100,000
17 Construction Loan Credit Enhancement (prorate)
18 Construction Period Taxes (prorate) 6,000 0 6,000
19 Water, Sewer and Impact Fees 4,500 0 4,500
20 Survey 5,000 0 5,000
21 Property Appraisal 4,000 0 4,000
22 Environmental Report 8,500 0 8,500
23 Market Study 5,000 0 5,000
24 Bond Costs 0
25 Bond Issuance Costs 0
26 Placement Fee 0
27 Permanent Loan Origination Fee 15,000
28 Permanent Loan Credit Enhancement

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29 Title and Recording 7,500
SUBTOTAL (lines 14 through 29) 280,500
30 Real Estate Attorney 75,000 0 75,000
31 Other Attorney's Fees 50,000 0 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) 71,768
34 Cost Certification / Accounting Fees 24,500 0 24,500
35 Tax Opinion
36 Organizational (Partnership) 0
37 Tax Credit Monitoring Fee 54,450
SUBTOTAL (lines 30 through 37) 278,018
38 Furnishings and Equipment 163,000 0 163,000
39 Relocation Expense 0
40 Developer's Fee 800,000 0 800,000
41 Additional Contigency (greater of $500/unit or $30,000) 50,000 0 50,000
42 Other Basis Expense (specify) Soft Cost Contingency/Dev. Consultant 80,000 0 80,000
43 Other Basis Expense (specify) Bank Financing Cost 10,000 0 10,000
44 Rent-up Expense 50,000
45 Other Non-basis Expense (specify) Bank Financing Cost 18,000
46 Other Non-basis Expense (specify) Other Synd. Cost 4,500
SUBTOTAL (lines 38 through 45) 1,175,500
47 Rent up Reserve 30,000
48 Operating Reserve 320,000
49 Other Reserve (specify)
50 Other Reserve (specify) 0
51 DEVELOPMENT COST (lines 1-49) 12,104,018 0 11,530,500
52 Less Federally Funded Grant 0
53 Less Disproportionate Standard 0
54 Less Nonqualified Nonrecourse Financing 0
55 Less Historic Tax Credit 0 0
56 TOTAL ELIGIBLE BASIS 11,530,500 0 11,530,500
57 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%

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58 Basis Before Boost 11,530,500 0 11,530,500
59 Basis Boost of up to 130% 100.00% 130.00%
60 TOTAL QUALIFIED BASIS 14,989,650 0 14,989,650
61 Tax Credit Rate 3.50 9.00
62 Federal Tax Credits (maximum $1,300,000) 1,349,069 0 1,349,069
63 Federal Tax Credits Requested (if less than line 62) 1,050,000 1,050,000
64 Land Cost 1,071,716
65 TOTAL REPLACEMENT COST 13,175,734
FEDERAL TAX CREDITS IF AWARDED 1,300,000
Comments:
Due to the extreme topography of site, $1.17MM has been budgeted for sitework which will include
retaining walls ranging in height from twenty to thirty-five feet.
Project Development Cost per unit 71,000

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Market Study Information

Please provide a detailed description of the proposed project:
Krefeld Drive Apartments ("Krefeld") will be a LEED-certified, "family", residential rental community located
in the city of Charlotte. This community will serve residents at or below 30% and 50% AMI.
This community will have 100, rental units in four buildings on 9.59 acres. The project is comprised of three
and four story building elements with walk-up through-breezeways and exterior corridors. The four-story
elements are a result of site grading issues and are designed to take advantage of these conditions.
The buildings are designed with a modern “Dutch” flavor with consideration given to green building design –
a masonry veneer base with hardi type siding and panels at the body. Some elements contain larger
portions of masonry while being sympathetic to the design ideals.
The roof is a standard “sloped” flat roofing system with varying parapets and protrusions to work in
conjunction with the design elements and to break up the length and mass of the buildings. As well, color is
being used to help to break up the repetitiveness of the masses without changing unit type or layout to do
so.
Individual unit entries at ground level as well as community areas within the project support community
connectivity while presenting the idea of “place”.
The proposed LEED certification will: lower operating costs, reduce waste sent to landfills, conserve energy
and water, provided healthier and safer environments for residents, reduce harmful greenhouse gas
emissions and ultimately demonstrate CHA's commitment to environmental stewardship and social
responsibility.
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:
In pursuit of LEED certification, a vast array of construction materials and construction methods/techniques
will be employed at the site.
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:
Krefeld Drive Apartments are located near the intersection of Independence Boulevard(US 74) and Krefeld
Drive. This site is well-located in a commercial and residential area. Most essential amenities such as:
schools (elementary/day-care), public transportation, parks and retail shopping (pharmacy, grocers, gas

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stations, convenience store) are located within a 1/4 mile (walking distance) of the site.
On-site amenities will include a clubhouse with resident computer center with high-speed internet access.
The clubhouse will overlook look a 700 SF pool with an outdoor kitchen. A laundry facility and fully-
equipped, fitness center "'bookends" the pool and clubhouse building. The site will also include a
playground, raised garden plots, covered picnic area and several outdoor seating areas.
Onsite Activities:
On-site activities will occur in the leasing/clubhouse. Property management will coordinate a host of on-site,
social activities to encourage residents to interact with one another. The clubhouse will include a small,
warming kitchen and a larger gathering space. The leasing office/clubhouse will also contain the resident
computer center with high-speed internet access.
The Charlotte Housing Authority (CHA) will provide a variety of support services appropriate for its residents
through CHA's "Moving Forward" program. The Moving Forward program is a federal demonstration
program that focus on service provision to promote self-sufficiency and quality of life. These services may
include: organized health activities such as exercise classes, on-site healthcare and computer literacy.
Other services will be designed to address the specific, expressed needs of the residents.
Landscaping Plans:
This site is 9.6 acres and contains mature and old-growth trees as well as clear areas. The site will have
irrigated lawns landscaped using indigenous plants and ground cover that are low-maintenance and do not
require constant watering. The landscaping plan will employ water convservation techniques and include a
water quality BMP. The buildings have been organically-incorporated into the site taking advantage of the
existing greenspace, topography and vegetation. Raised-bed community gardens are placed strategically in
the site overlooking the greenway corridor. The site plan also contemplates a pedestrian connection to the
Mecklenburg County greenway system that boasts natural and undisturbed areas along McAlpine Creek.
Interior Apartment Amenities:

Interior apartment amenities will include:
Spacious floor plans
Wall-to-wall carpeting in living areas
Vinyl flooring in entry, kitchen and bathroom areas
Full kitchen with Energy Star appliances: refrigerators, oven/range, dishwasher and garbage disposal
Central air and heat
Walk-in closet
Washer/Dryer connections
Mini-blinds
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.

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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.
This site is located within an established neighborhood with continual residential and commercial growth.
The physical condition of the buildings are good due to the stabilized nature of the area. This site is also
located within the city of Charlotte Locational Policy's Green Zone which prevents saturation and
concentration of affordable housing. Designation of this green area represents a concurrent need and
allowance for affordable housing.
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 land use patterns in this neighborhood has a mix of uses that
serves the need of the entire neighborhood which includes commercial, multifamily, single-family and
institutional/religious uses. The land uses immediately adjacent to the site are residential and commercial in
character. A Car Max dealership borders the southwest boundary of the site and single-family residences
border the northwest boundary of site and the McAlpine Creek serves as a natural and undisturbed boundary
between the land uses. A church sits on the opposite intersection of Krefeld Drive and Margaret Wallace
Road. The market-rate apartment community is located directly east of 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. With its location on the corner of Krefeld Drive and Margaret Wallace Road,
the site has several hundred feet of frontage on both thoroughfares. This frontage on two streets (controlled
by a one-way stop sign on Krefeld) will allow residents flexible access to the major, commmercial
thoroughfare - Independence Boulevard (US 74) which will eleviate any possible congestion on any one
particular street. This section of Independence Boulevard has three different public bus routes (CATS): 14,
61X and 62X. This community will be visible from Independence Boulevard.
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).
McAlpine Creek which borders the site will be an amenity to the community due the Mecklenburg County's
Parks and Recreation - Greeway System. Upon completion, this community will have direct pedestrian
connectivity to the greeway which will include future improved trails connecting to the nearby McAlpine
Boyce Park and Greenway. This system of greenways are vegetated natural buffers that improve water
quality, reduce the impacts of flooding, and provide wildlife habitat. Greenway trails provide recreation,
transportation, fitness, and economic benefits for all to enjoy. There are 33 miles of developed and 147
miles of undeveloped greenways in Meckenburg County. These greenway will have paved trails with
pedestrian bridges and benches along the corridors.

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

The scale and aesthetics blends well with the adjacent and neighborhood surroundings. A "Car Max"
dealership, large church, single-family dwellings and Pheasant Knoll Townhomes (a 3-4 story multifamily
community) surround the proposed development. This wide range of uses and architectural styles in the
corridor and area allow for diverse development themes.
For each applicable neighborhood feature, enter distance from project in miles.
0.30 Grocery Store 2.82 Community/Senior Center
0.20 Mall/Strip Center 2.96 Hospital
0.88 Outdoor Athletic 0.30 Pharmacy

Fields
0.10 Day Care/After 1.15 Basic Health Care

School
0.22 Public Transportation

0.80 Schools
Stop
0.47 Convenience Store 0.20 Public Parks
0.47 Gas Station 1.45 Library
Other facilities or services:

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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).

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Print - APP09-0010

Print Preview - Preliminary

City: Charlotte County: Mecklenburg Zip: 28105

Census Tract: 57 Block Group: 11

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

Political Jurisdiction: City of Charlotte

Jurisdiction City: Charlotte Zip: 28202

Jurisdiction Phone: (704)336-2241

Site Latitude: 35.16318

Site Longitude: -80.73404

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? Yes

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If yes, provide the subsidy source: HUD and number of units: 10

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City: Charlotte State: NC Zip: 28203

Email Address: jdaniels@cha-nc.org

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Total Site Acreage: 9.60 Total Buildable Acreage: 7.10

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?

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Purchase Date: 11/21/2009 Purchase Price: 900,000

(c) Enter the current expiration date of the option/contract to purchase:

(D) Enter Purchase Price:

https://www.nchfa.org/Rental/RTCApp/(S(mafdhj45s...D4D544E449&SNID=EBA7613B55B74EFEB458E64EFC4C3775 (6 of 21)4/8/2009 2:02:22 PM

Is multifamily use permitted?Yes

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Owner Name: To Be Determined

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

Org: Charlotte Housing Authority

Phone: (704)336-5221 Fax: (704)336-7767

EMail: jdaniels@cha-nc.org Nonprofit: No

Org: Horizon Development Properties, Inc.

Phone: (704)336-5221 Fax: (704)336-7767

EMail: jdaniels@cha-nc.org Nonprofit: Yes

https://www.nchfa.org/Rental/RTCApp/(S(mafdhj45s...D4D544E449&SNID=EBA7613B55B74EFEB458E64EFC4C3775 (8 of 21)4/8/2009 2:02:22 PM

Low Income Units

Total # Monthly Utility Mandatory **Total

Gdn Apt 1 770 2 3 515 89 0 604

Gdn Apt 2 912 27 5 618 107 0 725

Gdn Apt 3 1117 33 3 707 130 0 837

Gdn Apt 1 675 8 0 270 89 0 359

Gdn Apt 2 912 10 0 320 107 0 427

Gdn Apt 3 1117 10 0 345 130 0 475

Gdn Apt 1 770 1 0 635 89 0 724

Gdn Apt 2 912 6 0 757 107 0 864

Gdn Apt 3 1117 3 0 875 130 0 1005

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

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

Low Income....... 100 11 57659