HomeMy WebLinkAbout6A - Jeffer's Pond Townhomes
MEETING DATE:
AGENDA #:
PREPARED BY:
AGENDA ITEM:
DISCUSSION:
CITY COUNCIL AGENDA REPORT
JULY 29, 2002
6A
DONALD RYE, COMMUNITY DEVELOPMENT DIRECTOR
CONSIDER APPROVAL OF MOTION AUTHORIZING
PREPARATION AND SIGNATURE OF A LETTER OF
SUPPORT FOR A HOUSING DEVELOPMENT TO BE
KNOWN AS JEFFERS POND FAMILY TOWNHOMES
History For some time, the City has been reviewing a concept plan for
the development of the Jeffers property along County Road 21.
Recently, the concept plan has gelled into a fairly specific proposal.
One of the components of the plan is a proposed development of 40
townhomes that will be priced so as to be available to families with
modest incomes. The developer is seeking assistance from the Scott
County HRA, MHF A, the Metropolitan Council and the City of Prior
Lake.
Issues A primary issue is the level of assistance being requested. The
pro forma received by staff last Friday indicates a financing gap of
$947,449. At this point, it is not known what specific form of
assistance is being requested. We have requested Ehlers and
Associates to provide us with a rough estimate of the income stream
that could be generated with a TIP District for the project and those
numbers will be available at the meeting. We have also sent a copy of
the pro forma to them for review.
The developer indicates his application must be received by MHF A by
August 1. It was for that reason staff scheduled the special meeting to
deal with this issue.
As staff understands it, the City is being asked at this time to commit
its' support for the project. The MHF A criteria indicate we need to
indicate the type and amount of assistance to be provided in the letter
of support. As this report is being written, we do not have a clear idea
of where the amount of assistance being requested could be found.
The other issue is determining the implications of giving implicit
approval to a project without a review of the project plans to determine
if ordinance requirements are being met.
162@ec~Wt! Creek Ave. S.L Prior Lake, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
AL TERNA TIVES:
RECOMMENDED
MOTION:
REVIEWED BY:
Document!
As proposed, the project will address several of our Comprehensive
Plan and Livable Communities goals.
Conclusion The Council needs to determine whether it wishes to
direct staff to draft and send a letter supporting the requested level of
assistance.
I. Direct staff to prepare the letter of support for the requested amount
of assistance.
2. Do not direct staff to prepare the letter of support.
As the Council deems appropriate.
Frank Boyles, City Manager
2
~ul 2S 2002 11 SIAM
Peter Andrea Co
952-829-5399
p.2
-'.4.S
Electronic Application
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v, !fI20(2l102
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-;
I i\:;. BOOSlriG;I1IlI:OME.. . : :,.'" . .,. c,: :.., ;", :.,,; ,,;: >~Jk.:;;,; " "''''
RFP Un,l l'roposcd Monlhly Om..
Type Appro"- S... ToraJ,"""uol E.timatod COSIOr ToW R.oom. (M of
(OBR. M oreu (N et IUnmblc Moadlly Cootrll:t Rell[ (N MIlI\tl1Jy Utilities ROlli (Praposed R..nrol RDcms Uait. x Rooms Per Rmt Linit (0/. of Income Limil r,1.
Coolract Rtnt ContrKt Rent.. Per Urtit.... AMI) of AMO Uoil Type'
IBR. Sq. Ft) ofUnirs rerVlllt " ,..II" 12) Paid by o.cupanr Utilities) Unit)
ZBIt. =tc.)
lBR 5 $1!l4 547,(,40 S6lI 5116. 4.5 US )0'1(, 60% PBA
, ZBR- l $194 ~,325 S6'8 5562 4,' 4,3 :10% ~O% EO
ZBR 4 $910 543.680 sa 5978 4.S .1 MR
2BR- 10 $7~ S905 .2S0 S61 5862 4.05 4' !IO% 60% HTC
, JBR J7 S909 SI85.436 S37 $996 6.1) 102 SO'I(, 50% HTC
~ JBR 3 SI,l}25 536.900 S8'/ Sl.112 6.!) II MR
SO SO 0.0 0
SO SO 0,0 0
50 SO 0.0 0
50 SO 0.0 0
so so 0.0 0
so so 0,0 0
so SO 0.0 0 I
SO SO O.D 0
SO SO 0.0 0 I
SO so D,O 0 ,
UNITS' 40 TOTAL GR.P, 54 III 454 TOTAl.. ROOMS: 2~O ... !.rr.. J,S rocrq
UtlM.,... w be "'''" by Clc:upanc (e.dud;nq T"-.),
I aR - l.J ......
2 BR- 4.jJQufft4
] BR - 6.n n:IOnU
__BR_1.UftQ'ft.l
S 8ft -., r1IGIIII
. IndJ,oIc ,r: HTC,HOME. MarUI RAb: (MR), Employee Oc<upiod(EO), O....cr ~cupicd (00).
Project B..cd AssistUlCC (PBA), Hollman (MHOP), F.d....lly A..is..d (FA)
o WI", ~ Se....
(2] Hot 'Nil....
(2] """.."del eleCl~e
0>1ll1t.Typc::
o Ai' Cond."'inl
o Otha,.Sp<<IIy,
SouIU at Utiit>' "1oooo""" CllculoUon (I(TC ClOd. IRS _194-60, ........ &'36):
III Public: Hous"" Aull10rily 0 OIlIer (5pod1y)
o ua~ty CGmpooy EIIKci..., n.... of Source of Inlorrn.otiDn:
,)..ii~W~~~ij;,;.,;~<'i:,\o:!i:J<::.';:;",..: . ~..::;,;; ':~..,.,~;,~:1;,-;';;'~)":t:;~;.:': .:;>'i:;;:.,;~.:.;gli}iil.i;.:,~E;,;;,2~
.. Ri:nlal HolLrinS Poo:ntiaJ
b. ParbngIGeragc I\l:nt Potential
_ ohurf..,e perkil\& 0
# of ""..."..1 porkinl D
c. COllllllorcial Reall"ol..tieJ (s~city)
d. Mil< eUlIJleow; Renl PoIc!.rial (.pecil'y)
c. Gr... POle.II.1 Renl (To.al LIn.. 11 lhn 1<1)
5418,.64
Monlhly fee
Monlbly roo
SO
$0
$0
Ii
.li".-Q1tIItJ!i~r," ;;;,;::'~;;:,...:.;::.
a. Renl&! Housinl Vacancy
V",ancy raetar 1.0%
b. Pui<inglGor,,!!c Vaoancy
Vacancy ....tor
1,;, COlT\mD'Ci.1 V.a:aDA;y
, V""""cy Y""tor
d. Mis~lIl11e&:'u, Unrcaliud loeoDle
c. Employ"",, Reot Credit>
f Oul of S.",i<:c U nie
g. Rcat.&l Coru:essiun AdjumncDa
h. BIIli D.bt
i. Tolal Renbol Lo.. (Tolll Li_ 2. Ihru 2h)
....."l
.-;\.,.",," r' ...'.';, ,'. ..... :, ~',
::..:~..-, ~~.~'.:\~,,~ ;.;.,~~.,
. U'
$418,_
;,::': .
x Line: 11.'"
529,292
"CLine Ib:l
$0
x line h:-
$Q
529.292
3, NET RENTAL COLLECTIONS: (Line Ie. rninUl II,)
$319,172
MHFA AppliC3tion Form RFP/HTCl 5/2000
5
7/26/2002 J 1:33 AM
e. Farfeill:d Seeuriiy Deposili
d, Inta'elit locomo
e. Toul Otller Inmrne (Total Lina 4. thru 4d)
NOTE: FOR HTe ONLY
(f Ihere i.s . sepa18te chary:: for tenant fa~ilitie;. offices, p......i.og. garase.ll. club house. swiauning pool,
5mrag. loclt:ers. etc., the wocialed cOil' U1! nor included in eligIble bosis,
5, TOTA.!. lUtVEN\JE (Lin. J pi... 40.)
Jul 2S 2002 11 SIAM
Peter Andrea Co
S/lWlOOl
Electronic Application
-->1:'--
, ~'..'
'~:li~,,:,lr~.k,~;@.~~.:;\1 ';:,;"(" .>,.,~!.:t'jl~/~;~;~I:~;~ ~"i~. :f::;;:~. ~t':'::~'~.a.~ti'2ri~!~~1 i1tl.J~
.. TCIWIl Feel
b. Other [n""me
Uo\llldry Equipment: SlDUIY oat
Amu.aJ Ta.. Inc:remcut Financing (11F) !I.=iplS;
Olher (Specify) :
B~MllfVAE.t!m~1iltm;~;' ';,.... ..':
I. ADMIN1STRATl'\11: EXl'ENSES
a. Adwnisin@ and MMkellnl
b. Mana8emmt Fee
S Per Unit Per MOlItII Fcc:
% afTatal Rc.enue Ie.. TIF,
547.04
'-4".
c. Lep!
d. A1Idili",
e. Telepl>onc
f. On.Si.. M....S"TDcnt Payroll
I- Olkcr Admim'Il'ODOIl
h, Toeal "'D1lnlt.rallen (Total Lift.. I. thMl Ie)
1. MAINTENANCE EXPENSES
.. l!1enlot MainllDll.N:e I Contracr
b. Exlcrmi4stiQg
e. Rubbiob~..l
d. Other Contract Services
.. JlIli..... Supplies
r. MoiJIr""""", Supplies
I. Vroands Maint~ti:e
h. Snow Removal
He'l dt NC Ilt:pllir Service.
j. Genenl Repalr Services
k, PaintIDeconang MOlerials
I. Maintenaru:e '" J.n. PaYTolI
m. Other Maintc:n&IICC U1d Open~
a. Other:
o. Toea! M.intcn..ce (Ttut Linesla tII ru la)
J. UTlLI'T1ES
I. Electricity
b. WII1:r oR; Sew..
c. a.. and Oil
oJ. Taul Utllill.. (1'0101 U_ Ja lbr. Jc)
3,5 U'NIQU I: OPERA TlNG EXPENSES For Sapporthle Roueml
4. INSURANCE
_>!.~~t.IJ "" G1f;e;:~!.S"I:~::,i'::'~'<~,~;I'
so.
I,
53,000
b,
nuoo,
Sjl,aoo
54,000
,SDIIll
l"r.QIll;l
'$1.100
e.
d.
e.
f.
Jl.
L
b.
st.ooo
S7,998
D.
II.
Co
f
I-
h.
i.
j,
It.
l
SUOO
S7.'!>>
S7 .000
5:1,000
13,000
$,UlOO
$3;200
SI7,OOO
Ill.
n.
o.
a.
b,
$4,POO
117,000
$3;000
d_
U.
4.
c.
.. To.al Mgmt. and ape"ling I!llJICnscs 1'er Unir Per Mo. (LillC 8.S /Total ~ Unill/l2)
b. Tolal M3m1. IDd Opeelang Exp""... P..- ao"", Annually (Linc B,' I Tow ~ Il.aoms)
,~~'~~,~1fD!!~~" "~t:::: r~~~~~:I':JI .'P.:~!, ::,;,;:' :'f':L;lWFr:.~.:,.~:~~:t~l"
a. RalE'D.tcT""u- SP""Uo.it $1,175 X_Units-
EiOmllecl Mukel Value of property
Ihpceo:d 4.d qwUifyillg pce""..!"
b. Repllcemen' R.."",..S Per Room
c. Pli.eling &: Dec. Ile....... - S{lWorn
d. Mi..eUanloUl Reserves -$ Per Room
.. Telll Reserye. .. I:..ro,," (Tolal Uno I lhru d)
7. un:CTIVE GROSS EXPENSES (Add lIa.. ~ and 8.60)
(Tatll Mgnll. and OpcrllilnK E~pcnles phIS Rc..rv~ and Escrow.)
8. NET OPERATING Il'lCOME (Li.. ^-5, Total R.yen~e, mloua Lin. B,7)
S120.00
x _ Roam.=
X # lWom...
X # Roo",...
MHFA Application Farm RFP/HTCI 5/2000
6
. ~ .~~:
.,',.. .,
547.000
$2'~OO
$0
SA
952-829-5399
.. ,...~'~ ",.
I . ~'::~:,' ,:;i.:~'i.": ::.1
$0
$389.172
'151,000
558.19.
s~ooo
S 12,000
;~~~i"'~1~i;;;:l!1(7?;fJ;::rt~;~:<:;:, .' '.
UG4
S6~
m.200
S217,998
S171,174
p.3
v.25
7/26/2002 11:33 AM
~ul ~~ 2002 11 SIAM
Peter Andrea Co
952-829-5399
p.4
..2.5
v. 5/2OI2l102
Electronic Application
I;V..~~!~$ttrAl&~,~R~fi::"':-:~)-"', '. /'" ,.' .,".:.;',::,'., ",'.;>':: ,-
. A. Net Operalms [...""'" (LiD. !VB 8) . . '(If ~~.. (SO) or ~~~.. ,kip Ihi~ scotign and KO 19 S.d:i"" ~1,)
8. Ocbl COy....... Ratio
C. N.t Op.,..,;.,. In.ome Anilable C.r Debt Savioe
eNoL Oponti"llln<:oIUC lIividcd by Debt C.vcrqo Ratio
L IDlI:rcsl Reduct;"" Paymegt (lRP) for Elti.ti"ll HUD Ins",ed MartS"!"
2. Tooo Net Operating !negme Available for Dobl SCTVic:e llId IRP
D. Annul Deb, Service for proposed Subordioab:d Deb~ if any:
Other AmortizEd Subordinocod Deb.:
:".,\:",:,:;',;'.;:;t;;".
$171,174
1.1500
1148,147
SI48,1I47
Lend..
Prin.i,,"1
Rale
Term
Amodizalion
Tcnn
Annual Debt
ServiCE:
I [ f
[ [I
Total AnnUli Subordinlled Debt Son;..,
V.D
$0
E. Torol N<I Oper&linglD.ome Ayulable for Debt Service leu TDtu ADnuol Sabgrdin.tcd Dc:bt Service
(Li.e V.C.2 minuI L-ine V,O)
1', E.timated MuiraW1l MortQlse 8ued 00 1Dc:ome Approach:
L Flnl MOllglC" Term.
Term: 30.00 Yoss Rate:
I) Debt Serviee F""lor
b) PI... Annu.1 Fcc
c:) Total Debt Service F.OIor
SI41,B47
6.25"1'.
O.Q61I 287f9
Years:
Amortizanon:
40.00 MIP Rail::
Debt Service Faelor with MIP
(1.25%
0.0702'48 17
TYJle:
O.0701l4817
1. M..imu.. Morti-ee
(No< Opc:ra<iAIl In.:ome ( V.E) .Jjvidcd by Total Debt Service F.ctor ( V.F.!..)
S2, 111,673
J. Net Mortelle LoItIIMnim... Mor'euee divided by 1.114)
(Applic.1o MHfA hi Manpgc 1e.,,1 only)
$:~i03-7.186
;;l)JjYrE:&OIMB,\'llitr
, S81.487
A. A.quilmon or ReII..nee J:xlSotlnll Debt Co...:
I. Ac:quisitionl Relinoneo
.J l..and
b) Exi.cang SlIUctum
c) Demolici.n
TolIlI AcquioitiQILI Refinanoe
2. Speeial As............
3. OdIcr (speeil'f;)
4. Tolal (Lil" I Ihroueh J)
So TcnaIo
T.... C....
$744;000 I
$11.600 SIDU
~J
2_1
3.
$7>44.000
I
4.
B, IfN." Construction. Dlmplele SectJon III bolo... If1lehlblJltalia.. complete 5oction If1 bel.....:
"F.r HTC ONLY: IF. separato fee is .h"'1locl far D.e .fth..... (lCiJitie.. the ulUGialed ""... ore not included in elilJibJe basis.
For HTe Only: "." D"""leslnter1llodiazy COlli
I. New Con'tNctioft
.) Iluld..,ciaJ
b) 00ll8es'
c) Aceeslory Sb'U~l.11r'<<.
d) On Si,o Work
e) OfTS;.., Work
11 Speci~ OIher:
g) Specify Other
h) Ne. CoulnICtl..
(Toul Un.. B.IL thru B.l.8.)
i) Q-encrallleqoiremcnl'
j) Builders Gelera! Ovorh..d
SO,Oll
SO,OO
SO.OO
SO
so
SIll"'U "l, n. -
$/.udl-
$/81"0" "l. fl -
SIOU -
S1DU -
~I ~''''-l I I
so S1DU-
h.
$,3,193;000
0.0% 'Y.ofl.,ine 8.l.h-
;:1
r
0.0% % of Line B. Lh -
k) Builder'. l"rof11 O.O'Y. "I. of Line B. Lh -
I) Gro.. ConllrueUon (C.Alrla Amount)
(TocaJ line. Ih thna I.t) SO S1DU - I.
m) Con.slnM:hon Contin!;enc;y (Minilnwn 4%, .ubje.. tn MHPA rmew)
n) T_I (lioe. 1I plu. 1m)
11..1
S3, 1193, 000
II.
m.1
54,003,000
SIlO,OOO I
MHFA Application Form RFP/HTCl 5/2000
7
7/26/2002 11:33 AM
Electronic Application
2. Rchobililacion: (if available _<II . men: detailed seopo; othr:rwj.., complebO this section),
.) Sito worlt: (&Iadillfl. paving, drainasc. llllllilcap.. utiliti... ClI:.)
b) Extcriar: (illcludes roof, ,idiAg and trim. windows and doers. etc.)
c) Gang.s- 50.00 Slgonge-
d) A~ory Structure.- 50.00 SIll"''' sq. ft. -
e) [nlUior: (inl:luckl e&bine.,. ""plianc~ fixllln:s, &ad wall.
oeilillg. Ind lloar flni,h.., ole.)
l) "'e<:lw1iocal SY'tl:IllS; (include. beating, .ir cundilionillg,
plumlling, and thl\d'cs, dc,)
5> EJe"tri,.a Sy~lcm3: (includes .service. win"&. Uld fi"rurc.l)
h) Specify Olhcr:
i) Specify Other:
Jl N.. Rehab (To,.1 Line B.l.1 IhN
k) GCIlcral
Requircmcnl5
I) Buildes'. veneral
Ovcl'M.d
m) BuildC(. Prafi,
n) Other - Specify:
0) G....II a....bilil.Uon (Conlr.d Amounl)
Jul 2S 2002 11 52 AM
Peter Andrea Co
I/2ll/Zaoz
B.J,i.) j.
0.0% (0/. of Line B.2j)
so
0.1)." (o/eofLinc B.2.j)
0.0% (% of Line B.2,j)
(Tot.al Lines B.1.j U1ru B.1..)
50 S1DU - o.
p) Con.c",,:lioo Con1io!lC""Y (Miaim1lJ1\ 7%, IUbj"""o MHFA review)
q) Talal (Iin.. 20 plwr 2p)
3. I!nYironntco.raJ
.) Abatemenl COIIO'ICI
b) Abatement Conling""ey (Agency dclI:nnined)
c) Total (Linn J. pl... 3b)
C. Sol't COI..
I. Profe,"ioaal Fees Ii: Other son COlta
a) Arelul""r. Fee - Ocsigll ( ,,% of Total ) +
b) Acehi'..,t', F... SupemsioD (2S%oeTo'a1) +
Total NcbileCr. Fee. SUJ,OOO
2.9% of the lolll! Lin B.l.b md B.2.j
c) Muk.ting ..
d) SII"'e)'s ond Soil B"rinC'
0) Payment and I'crf"""an.. Bond Premium .. ( ienat in.ludcd in CQDlIlNCtion
t) Buildillll Pennit(., + (if DOl includc:d in eonltruc:lion aanln.t)
I) Sewer-W lrer Ae.... OIl1ge
h) Appt1Ii..t Fec +
i) i!ncrllY Audil -+-
j) En.,;n>OUOCD,.J ~le"lIlcnl ...
~J Cool Certi6calionlAadil +
I) Milke. Study +
11l) Till Crcdil Fees +
n) COIDpJianec F_ ...
,,) Funusbinp ud Equ.ipmenl
p) LaP! Fee, +
(Syudi.ldion and penn....lIt fin...ciag fee. lie nol allowed in basi..)
q) 0Ihet Fecs . SpceiCy:
rl) Other F... - Speoify,
r2) OlJIer 1'... - Spe:it'y:
.) Total (Line. 1.0 thru lor)
2. Developer's Fcc
0) Developer'. 1'.. -
I) Dc:fem:d Dcvc1op.~1 Fcc
2) Developer'. Fee AVllilable aI CloMg
b) Proee..i.ag ^Il"'" -+-
e) Olhcr COlI!ullllN Fee. (U\Cludable as De..
d) Other (Speedy)
e) Total De.eloper'. FccI
1515.000
Fe..) +
1I,7'r.
% olLine VLD. Line Vl,C,2.e
), Tn Cndit Syndic.aticm Fee.
.) OrganiZlllion Fe.. ...
b) Bridge Loen +
Co) Tax Opinion +
d) Other Fe..:
0) Total (Linc. 3,. thru ],d)
MHFA Appllcallon Form RFP/HTCl 5/2000
8
952-829-5399
P'. ?
'1.2.5
~I
c.1
~:I
kl
1.1
~:I
so
q.
p.
SO
so I
I
e.
.'1
b. ,
SO
s.
b.
c,
d.
contr..l ) e.
r.
..
h,
j.
k.
I.
m.
n.
u.
p.
584.000 I
521,000
$14,000 I
S2!,1lOO
57.'s00
525.000
53.000
JI 000
$3.000
SO
.522.'OD
I I
54','s00 T 1
535.000 I su,5,S01
I.
~:/
521-3.500
..1
SS7S ,000 I
e.
~I
5612)00
137 )00 I
137,500 I
e.
~I
$12,500
"'~ I
7/26/2002 11:33 AM
Jul
26
,
2002
1 1
52 AM
Peter
Andrea
Co
952-829-5399
p.s
V. $'2~CXl2
v.2.S
Electronic Application
4, Fiouems C....
l) H.....<1 wi LIl.bilily lnSWUlCO
b) COllllr1JCbon Int &r. .. mend..
cJ Taxes durias construction...
d) Asency In.pecrion Fcc ( MHFA Fi.... M.rt_ Oaly)
P% of gro.. oonslr1ll:tion COlt. See VI.B.LJ..
c) Olher In,poclio. Ple ..
I) MHFI'I OriSinatioo Fcc (~~. TMC I... DeE .t appro~'laI fund.}+-
8) Other Originldion Fcc (pelUlon.,ll tinaneina &e noleligible for b..i..) +
hJ Mangas- Ionnnc;c Premium ..
i) IUvenuc Bond 1'ImUlIIII ..
i) Tille UId a.coediaa ..
1<) MHFA DeE: (LiJw: V.FA)
I) Olhcr: SpecifY
m) Other: Specify
n) Oilier: Specify
a) lolAl Fiat8llCi"i Co.ts (line. 4.a tIuu 4.0)
D.To181 MIJr1plleableeClfl8 (TMC)
(Total or lUbtio,ailinc.) $:tM>,3-'1. per unil
E. Non.Morlpccablc COlli (Yor c..mplc: Syndication RcI~,'
a. Spoc.fy:
.. Spocify:
a. Specify:
L
b.
t $10.000 SIO,OOO
I S!lU.OOll $40,000
I . nOOO $2.000
S 19.46'
c.
d.
c.1
f.
a.
b.
i.
i.
Jr.
I.
SIO.OOO' 5 I 0,000
SSI.417
t '1
I '1
I
Sl06: 670
N~W
o.
ID.
D.
S269,&2
D,
$.$;&5-5,122
t
(T olal Ii.... VI.D Ind VI.E) Per Sq rt P.,. Unit
G. Tata' B..ia for Tn C,ocIica (Sum of 3O~aai') _____ G. S223,Q50 $I) $22J ,050
iV1;l:J' . . Q~' s:,ll~,67J ^dj~ '''''~',::'' "c.'" . ."
-'."0"
A. SOun:CI or FIIIId."I: ( ~1a.hnuUl i\-Icrtp-tr '.Cbec... in.luuI: in n....n!: To.< Crc!ull
t..:':.alcmlatcd (~.f' SN.,.olQ 5928,&71 (IITCI ."" CAlculation MU~'i\ I'Sr.: ONI.\'
Name orso"",c - ""'- T Cnll Ra,e Amoun. l..-' Per Unit Commlltad7 HTC Gao-' l'rDtlJ'alll S.b Ptu.nm Loan ID
I MHF A F'....t Mortsagc $2, HI, 673 ~7 Oy", OVes t ':.
2 Oeocra' I'onDor Cub SO o Y..
3 Synd.ieation Proc:..ds' o.fvrad f'nx.~ 12,750,000 $68,750 DYes .
4 Met COWICiI SAC WAC S3~,OOO 59" o Y. DYe. i.:
5 o Y. 0... ,
6 DYes o Yea r .
r ,...,
7 o Tes 0... ! ,
8 o T.. 0... , '. .
9 Or. Dyes i.'.
10 D- O... ,.,' .2-' .'. " . .
II 0- Oy.. ,.,.\\ :'.,~ .,' ?. "
12 OTa Dyes ;" " c. .,. ,
13 OTIS Oy", r. ',. .~. '... .;( '''... ..
14 DYes Dyes ",' :".: \"'"' ''-'' ":,
. ~,~
IS DYes Dyes L' , ..', 'C'.;' r ,."
NlIT IN R/\1,A:\'{:~, TOTAL $4,9Q1;613 5122,6'2
5146.178
H
$I)
53,555,122
F. TIII.1 UncfoplIICIlt COl. (TDC)
SII.ool
4.
f.
. HOUSING T......'I( CIlEDIT ONLY. List syndic.Lo. prOt;c.ds fnHn biaoric cn:diD .epan/elf,
.. HOUSING TAX CREDIT ONLY: Chec:lr yes far sources o-ffiaaneins which IIIU" be ineludcd in the HTC: e~u:ity I\lIP calculation
B Om.r a.quin:mcIll>l
I. Worhng c..pil3J E.....w (3%' ofMHFA Net Mortg&ec)'
MHF A 1.lllUlr1plP .u1y
2, Reol Up Escrow (J%.r MHF A Net Monga!!")'
MHF A 1.1 mortpse only widllU\ocoupicd building
J. In_e Esc:.row (MHFA deccrminu S) for MHFA 151 MonpS"
4. Odlcr. List:
!. ather - Li,.:
'C. be Cuh or Loner of Cn:diL
C. Ma,,,mum Allowablc Rnuru .. Equicy
(10',1, .fawner cull.Lille VlI.A.2. plus 10'l~ o!,yndicatioo JXllCccds Line VII.A.3,
plo. I',~ ,,{ (TMC, Line Vl.O.. woo. Dc,eloper Fee. !.iDe Vl.C.1.c.ll
0, OrbCl Coodi,ionr:
~1.116
so
5327,426
MHFA Application Fotm RFP/HTCl 5/2000
9
7/2512Q02 11:33 AM
Jul 2S 2002 11:52AM Peter Andrea Co
952-829-5399
p.7
07/26/2002 07:49 PAX 8516021442
MET. COUNCIL
~004
Date:
Application,for,-Jnchisionary.Honsing. Service AvailabJlity Charge (SAC) Waiver
Applicant Name: ./IA1 ~C:A,vdY Ie...,
Address: 'It/t S"- ~e;,{ja/L.7 h/I)/C
6/~ - 7'19, {-J 19
Rl::mil [0; Metropolitan Council
Community Development Division
Attn: Guy D. Peterson
Mears Park Centre, 2nd Fl()or
230 East Fifth Street
St. Paul MN 55101
Phone:
Contact Name;
....:.}
','
: ':'.,,;;,
melltlDfPriliatioD
.,' '.. ~ '
DevelopmemNaDlC; ~rfCM /'0#) hfJHILY 1Pt/P!)'f,/J161
Location (City): ;P~) II'- tA--J::. c!-
Development Site Address or Legal Description: #/.J.f" t(z. ..J U ,Il-). 2--/
Total Number ofUniu; lid
Ownership Units: 'b""
1lel1tal Units: Y #I
Number of unib by type (e.g.: Walk-up (WU), Townhouse (TH), Elevator (E), Single Family (SF), Duplex (DP)
-r;.J
Anticipated Sales Prices (ownership):
Anticipated Mcmthly RentB
(plus teEUUU-paid utilities)
by bedroom size:
2 M'-.
~ M-.
f6'V
fff'-
':;~~i~;~j~;'~~~ilIii~.~1!~~1i~:~N~1~~~rl~~~~1:.'i;~~{t~~;:: .
" '~"':'\~~:~"~:>,::::~ '~':.'
.... ::.';,::'" ',- "
;';ii-i:\ ': :':JW:'~f::':';:~~~~~a
Indicate n.umber and pen::cot of units li:lr each inlXllnC level proposed.
. (#) or - ~._ % oftbc units will tmg~ households at..:. .'
_ _(#0) or _ _% of the units will mrgat houdlolds at :......
(#) or % of the units will target housaholda at 60
% of area median income
% of area median income
% or le88 of area median income
" ;;'
::.
-' .,' '::;\1i~~f~Wf;};
;.;-
1,
(#) I:JT ~ % afthe units will target households at
(#) or .;'y:z..r % of the units will target households at
(#) or ,. oftbe units will target households lit
% ofarca mcdiao income
-1lL-,% of area median income
3D % or IIls8 of area median income
V~r.o<<INIl~_I.l~Ii~.d.-
Jul 2p 2002 11:53AM Peter Andrea Co
" .
07/26/2002 07:49 FAX 6516021442 KET. COUNCIL
952-829-5399
p.8
laJ 005
,h~i{io;:~~~~~~'~l~:'~~:~~~~:i!Z$~~~~~::{::,::;:,j"i::}:"':;';:~,,:'::';:':"::,::~:;:<::':~':/>~','::~ ': ..'" .:' :' ..',. , ..' .' ' ", '. ,:.-:" , : ,:: (.::) ::.::}~::~')f..;'(?';:"::;:;>.~,?
Number of units by type seeking SAC waivCf - (Walk-up (WU}1 Townhouse (TH), Elevator (E), SiD.gJe Family (SF), Duplex (DP):
Ownershio Rental
Number Type Number Type
"-6 ) '1#
Number of units seeking waiver that:
. Aff; being developed with the assistance of some form of public subsidy or
financial involvement, e,g., low-incoITU: tax credits, tax. increment financing,
MHF A or HUD financing, LeA assistance, etc. 'it;{
. Will have hook-ups for individual laundry washing machines Y CJ
. Will have garbage disposals and dish washers y8
..Co81Av~ia.~~'antl/o~~iic.1ibln~~;":";; );::::.: ::::~i;"ji':::':::. ;'! ::,,: C":',::, ::'::
":, '; '.:~ '. <.' . ",.
i." .
., :':.:;';,
"'.:~ ;;"';":.:':.",.!.::,'.."
Describe tbe local inclusionary housing incentives that make the proposed development an inclusionary bOUBing
development and the dollar value of the cost reduction or cost avoidance associated with each incentive,
Examples of possible local incentives are as follows:
. Density Bonlls
. Reduced Setbacks
. Reduced Parkhlg Requirements
· Decreased Road-widths
. Flexibility in sitl: development standards and zoning code or garage requirements
. Waiver of permit or impact fees
. Fast-track permitting and approvals
. Other regulatory incentives
is submitted by the undersigned with the full k:.a.owledge acd ~on:senl ofthc govaming body md is, to the UDdcrsigned's best
rille in all detail:!, Tho I:ity agrees that ifMCES SAC waiver is approved, it will n04: collect the MCES SAC for the units far which
7~~V
's Signature
Date
Da~
ClIitRii;,Co...,,~A1ith(j'~-ijoh.~ ;,~Jb: \:>~ ':: ; ...:.;.-:}.. ''-;:;' .,:' ; \"::. "
. '.
.. ..;.;
. "
.. :., .~.:;
;......
. ,;.:'.'~' !~>;.. I'
";"'.- "
Authorizing signlltUrc IInd title
Date
V, \LIB !\AI. Y\COMMt. 'lItlWinaol,orc\1onns\l% I~ OOIncIHSSM:Wal.....,cIa:
Jul 29 2002 3:08PM
Peter Andrea Co
952-829-5399
p.2
'.2.5
V, 5I20{2002
Eleclronic Application
,IFf "liiS' ..
I .,.:<:I(f i':' " ." : ;~:e~<d?i!:j{~!.~~.i~ii:i~.:~ li-i1,J;': ~;i;-;::::i~~;., : :'~~~!_';+2,~, r',':~ - ::~ ~~;; ~lt,~!:1-i:'}i<~~ b(r,:~1:ji}~m F~ _-I{~~~!L:'{i:~~.:/ ~~....::,~~i:~;!! : ;;i::~ "i ~11":' ,
.. ;~:,....: ..' .., H'''' ::".
:
RFP Unit Proposed Monthly GlOSS :
Type Appro.. Size Total Anaual Bstimab>d eost of Total R,,* (~ of
q ofDU eN cl Rcn~ble McmtbLy CODtnII:I Rmlt (II MollChly UtlUtic. RClII (Proposed ReaOlI Rooms Uniu; . R<io_ Pc, Rem Limit (% 0 f Inco_ Limit (% Unit Type'
(OBR, COntIacl Reol CcJltra.d: Renl' + Per Unit... AMI) of AMI)
IBR. Sq. PI.) of Uni.. x 1'eDt x 12) Paid by Occupon\ Unit) I
PcrUllit Utilities)
2BR, eto,)
2BR S ~794 547.640 168 5862 4.5 nT 300/. 60'1, :PM
2BR I $:794 $9.528 $68 5862 4.5 4., 500/. lIlW. EO
2BR 4 $9]0 543.680 $68 $978 4.5 L8 MR
2BR \0 5794 595.280 $68 5862 4.5 45 500/. 60% HTC
3BR 17 S9O\l 5L85.436 S87 $996 6.0 102 '00/. 6O-./g, HIe
3BR 3 $1.025 536,900 S87 SI,I12 6.0 11\ MR
SO SO 0.0 0:
so SO 0.0 0:
so so 0,0 01
SO SO 0,0 Oi
SO SO 0.0 OJ
SO SO 0,0 a!
sa SO 0.0 0'
SO SO 0.0 01
SO so 0,0 Oi
$0 $0 0,0 0'
UNITS: 40 TOTALGRP, 54'1 &.464 TOTAL ROOMS: 21 ... en:. J.' morN
.
1J1jll1leto \0 be psk1 by Occupent (e.duc:llrlg Te6ept:onel:
I Sl :U rocrm1
2 BIl"4.51VU1t~
) BIl" 6.01'tlllm1
.. PI.. 7.01"QUml
5 Sa.. B.~ roons
. Indic::lLlo if: rrrC,HOME, MBlkcl Rate (MR), Employee Occupied (EO), Owner Oexupied (00).
ProjecI B.",d A..iA,,,,,c. (PBA), Hollmcn (MHOP). Federally Assi.ted (FA)
Dw.u.rlo-'-
o tVl WR'
o Household eloctrlc
o Helt .Type:
o IJrCordllcN\ll
o Olh..-5(ll!Cify:
Sou= of Uti~tv AU""","," CIllculatbn (HTC code IPS HoIlao ,4-60. lslUlII lit'961:
@ PubHc Hausln9 .~tI1Q(1ly 0 Ottl..-(Specfy)
o Utilily Company Effect;ve Dale of Soun:e oflnfonnation:
'J.;,..~$llJ~~!:I,;;~:;;.i':.'e::;!,:;".
.J"" ,,;,.,: '" ; i.' t;,JJ;.'.,;' '~~~:/.':';
:\<.,.~,:;-.:
".,..,;,:""""..,:,c.!!;,;:'A, .
~\
a. Rental Hmlsillg Potential
b. PBlkiDlifGlU'IlsC Ront Potenti.1
N of surra.e parking
II of covered parkin!:
c, Cun.....-.:ial Rcntl'olcuri.1 (ape.iCy)
d. MiseellllllOOus RCI'lt Potential (.pocify)
Co Gross Poreuli.llUnl (Total Uoe. Ja thra Jd)
$41,1;4(>4
Monthly rec
Monthly fce
!o
SO
so
~18,4~
:':: ,';:,;,;;, ~:;r:ii"l,\~f:ti:: ,; ,;'>' d.:~, ;;::::~...,::: '
~ ~~Illlli$i$'r' . ., ":';[;I'}" "" '. '>jr:,:: :}:::::'::ti"./ ,:;:',:.G/ }\[:i!'-''!;',j!,,;:.;.::::.,
"'::'.:Rc~IaI~~U~iD~Z;~~~>:,:.::::n:;' ---- -- . -.,.
Vacancy Faclor 1.(.lO" "LiDe La-
b. Parking/Olll'.go VllQIucy
V.caocy FlCtN I Line Ib-
c. COJ1U'DCr()i:sl VecDllcy
VacIDey factor "Line Ie -
d. Miscellaneo.. Unrealizccllncome
c. Employee RCOI' Crcdils
r, Oul or Service UBit.
I. Rl:nlal Co""...ion Adjuslmalt5
h. Bad Debt
I. Tntal Rent.1 Lou (Total Li~, 1a rbru 2b)
S:Z!!.292
so
SO
1. NET RENTAL COLLEC110NS: (Llnele. mtnu. 2L)
!S29.292
~389, 171
MHF'A Application Form RFP/HTCI 5/2000
5
7/29/2002 2:58 PM
Electronic Application
4.. OOiBjmt~l!j,.;. '.' .i.,.,..i';:::' """:';';';':'.'f,/;:i! ;:::,'.L,,':\"{i-'?? '?,~i );'
a. Tenant Fccl
b. Other Incorne
Laundry Equipment: SIDUlVear
AnDual Tax Inorement Finanoing (TIP) Receipt!:
Other (S~ecify) :
o. Forfeib:d Securlty Depo.ill
d. lDtcrcsr Income
.. Tolal Olber Income ffollll Lines 41th", 4(1)
NOTE: FOR HTC ONL Y
If there is a liepante charlie for tcDaDt faclUtlcli, offices. PiUk.inS. garage" c.lub hOU5C. sw~ pool,
.bDraec Itxkers, <1<.. the: ...o.;.I<:d colli are not include.! in cligible basis.
5, TOTAL REVENUE (LillO' 3 p.... 4e.)
a. Total Mp, and Ope"'tiq Expe...e. Per Uoil Per Mo. (LiDo B.S / Total # 1Joill/12)
b. Total Mgmt. and Operltina ExpeDse. Pcr Room A1muaJly (Lint 8.S / Tolal #.Roonu)
,'~c.!'jj($~#~6;~~~;.,~;ifgj~~i:::""S;::i;"'~5;;:/.,"..r:'r;i:'~:iiE;::'!(,\;.:
L Real EsllIll:Toxe, - 5 Pcr Uait S],OSO X # Uuil5-
Estimated Market VIIh>c ofpmperty
El<p<Cled 4<1 quaJifyingpcrcenlajc
b. Replace,ncall Reaene -5 Per lloom
t. Painline Ii. Dec:. R.c:scrvo . Sf Room
d. Mi.celJm""", R.c_.5 PCT RDom
c. Tot.IIle"''''.. &; Eller..... Cfotal Lloes. tbMl d)
Jul 29 2002 3:08PM
Peter Andrea Co
v., 5/za/2CJDZ
~~~
m
I. oUlMINlSTRATIVE EXPENSES
D. Advenisiog...d MarkoliDa
b, MlDaS=DI Pee
i Por UDil Per Month Fee,
% .fTDlal Rev...ue Ie.. TIF:
547.04
5,4%
~. L.p]
d. Audj.;..S
c, Telephone
f. Do-Sill: Mana&emeDl PaynJU
g. Other AdmiDi.tralioD
h. Tutal A.dmioial na lion (Toul LI.... I. lhru Ie)
1. MAIl'n"ENANCE EXPENSES
a. EleYD'or M.iob:nancc / Contra..
b, ExtcnnioatiD,
., Rubbillh Remonl
d. Other Contract Services
e. J...i1..- Supplie,
r. M.mtellDllce Supplie.
&- Grounds Maintenance:
h. Soo\\' Remo\'al
j. .Hu" &. Ale Rcp.ir Scrvioc.
j, Geo....1 Rep.ir Service.
k. PsintID.."""ing MaICTiall
I. Maintmance &. I.... P.yroll
m. Olher M.inlcllUlCl: aDd Optrlltin.!:
n. Olher:
n. Tot.1 Maintenance (Toell UnaZ. lhru 1n)
], UTIUTIES
.. Electricity
b. Wuer &. Sewer
c, G... and Oil
d Tolll VIIWIei (Toto' LiD'" Ja Ihru Jc)
J.S UNIQUE OPERATINC EXPENSES For SupporD"" Hmos'...
4. INSURANCE
I
5120.00
7. EFFECTIVE. GROSS EXl'ENSES (Add lines B.S lAd B.k)
(Total MJ!iIll. and Oper.ling EXfl"DSCi plu. kiln.. md Elao,,"s)
I. NETOPERATIl'IG INCOME (LIne A.5, Tolol Rnema., mlnu. LiDe B.7)
MHFA Aoolication Form RFPIHTCl 5/2000
952-829-5399
p.3
..2.S
'-"V";'
:1:,,:
...\,.,
''''~''';'
50
50
S~Il9.172.
:.i I ;"::. ~ '.": :'
,<::,:r,,::~:
: !;:':~:_~- ',;
a, SJ;OQa
h. 5~1;QOO
c. $2.WO
d, 54.000
e. 51,500
f $18.00lJ
g, $2,100
L
b. 51..000
'" 57,99S
d.
c. SI,SOO
r S7,SOO
8. S 7;000
h. $4;Olll)
53,000
j. S~.WO
~. S';200
I. SJ1.00P
m.
II. HMOO
o.
L ~;POO
b, $17;poo
c. !,3,IlOO
d.
3.S.
II.
~51,1S00
1$74,698
; SZ4,DOO
I
i S12.ooo
I
1338
5773
",.,,;.,., '..' ,,"~r>~'~ J}.
"'~i'-o;;o
-.",::';'.::.
"J
,;,.','
x . Room.-
X . Room.s-
X # Rooms-
S2S ,200
50
SO
: S157,200
i 52:19,491
:5159,674
;
6
7/29/2002 2:58 PM
Jul 29 2002 3:08PM
Peter Andrea Co
952-829-5399
p.4
~_ 512012002
v.2.5
~:;~t'.,
A_ Net apeuting Income (Line rv.B.X) ,
B _ Debt Coverage Ratio
C. Net OpC'ralwg Income Avail.hle for Dt:bt Servia:
(Net O~r.oting Income divided by Dobt Cavcrage Rotio
I. Inle.."t Reduaioo Paymcnl (IRP) for Existing HUD Illliured Mortgage
2. TolaI Net OporatiDl1; lw:wnc Available far Debl Service IIIld IRP
D. AnDUtU Debl s.:.viJ:e l'nr propo",d SubDrtiinatrd Debt, if any:
Other Amortized Subonlmarcd Debt:
~::::'.i_":;:'_;f'-' '.".
Amortizatioll
Term
Annual ~b,
Scni.cc
l.cDdcr
Principal
R..e
Term
I II
I I
Tolal Ann...! SubardinaJed Debl Service:
V.D
so
E. Taw!'''' Operating InC1>mc Avail&blc fur Debt Sc<vicc Icso Talal Ann""l Subonlinated Debt s.m.ioe
(Line V.C.l rnmll5 LiDe V.D)
F. E.blllluod Ma.imum M ortpge Bloed aD Income Approacb:
1. Fin. Mortpgc Ten..
Tenn: 30.00 Yo",o ~tc,
aJ Debt SClVioe FacIo.-
b) PI... AmIuaJ Foe
c) ToW Debt Service FaclDr
~~J8,147
6.05%
0,072])2267
Veus:
Amcnization:
J().op MIP Rlno:
Debt ScTvia Factor iilb MIP
0.25%
0.D74276135
Type:
0,0742761 B
2. MnlmaDl MDrtplll'
(Net Operating Income (V.E) divided by TOlal Dcbl Sorvice P""'DI' ( V_F_l.c)
S l.869.320
J. Ne, Morlil.geLoaa (MlUimum Mortpge divided by 1.04)
(Applies to MHFA lot Monp.. Joaoa DIlly)
S I, 7!17. 423
$71.897
!
VI;,.
4.
A. ACqU15tUDR Or' RefinaDce Exiniug Debt COlts;
L Acqui:sitiow RcrtnaDCC
.) LlIIld
b) Exisling Structures
c) Dcmalitloll
To",1 AcquioitiDO! Rcf'ullwcc
2. Special AnCISlnCDll
3_ Dlhc< (specify;)
4, Tolll (Lines) IhrOtlgh 3)
5[44.0001
II
Sl~.600 SIDU
~:I
~:I
S744,OOO
4.
B_ If N.w ConstrucUu.. complete S.dion I/o) below. II R.habllilltlon, compll!te :!ieclioD n below:
.Por HTC ONLY, IF. "OP""'" fee ilcbarsod for use orthe,e facili,ie" the ...oeiated Cooll are nol included ill eligible basis.
for HTC Ooly: "+" DODOtcs Inte:mlClliuy CD61s
1. N'ew Con.itruction
.) boidcotilll
b) Garages.
,) Acccmory Structur='!.
d) On Sill: Work
c) OtTSile Work
t) Specify Other:
g) Specify Ollter.
b) Net Co.-traction
(Tol3l Une, B.lo_1Iuu B.._o.)
i) GeD8n.I Requirement.
j) Build.t, Ge""..1 Overhe.d
e.
53 !l3.000 $3.893.000
,
I
50_00
50_00
50.00
SO
SO
SI8'''''o sq_ 11.-
5/5D1I-
518'''" sq. 11,-
SIOU -
SIDU -
L
b.
c.
d,
f.
B.
SO 51OU-
b.
53,893.000
".1
i
1:F1===I
,
I
i
I
~J55.710 I
i
0.00/. % of LiDe B,l.b -
k) Buikler', Profit
I) Groos CODllrlIellon (Contract Amount)
(Totel Line. l.b thru J.k) 50 ~DU - l.
m) ConS1nl<tiOll Contingency (Minimum 4%, subject 10 MHFAr:view)
oj Total (Line. 11 plu. 1m)
0.0% % of LiD. B.l.b -
0_0% % of LiDe B,l.b -
13;893.000
a
m_1
$4,041\,720
MHFA Application Form RFPiHTC) 5/2000
7
7/29/2002 2:58 PM
Jul 29 2002 3:08PM
Peter Andrea Co
V. 5/20/2002
Electronic Application
2. Rehabilitation: (if livlliJable att.acb a more detailed ~COpci otherwise, complete lhis soctjau).
a) Site work: (gra.iJq;, peviDi, <lnica.e, lan.sclpe, utilities, ccx:,)
b) E:<lcrior: (includes roof, .idiDi md trim. windows lIIId doors, etc.)
e) Gar_CeJ- 50.00 S/prage-
d) AC:CC5Sory Structures- SO.oo S/lfOse sq. ft. _
c) lmcrior: (lncludcS aabmctI, -.ppIiIU'l.CCI, nxtur~li. aDd waUl
ceiling. and floor finishes, cle.)
t) Mechanical Sys..ms: (include. he.cin.. air condiliDDin~.
plumlJing, aod rlXCUreS. ek:.)
g) EL:ctricaJ SYIU:mI: (iDclucK:s 5CfVicc. wirins. IlDd fixb.U1:lI)
h) Specify Other:
i) Spcc.ify Other:
J) Nel Rehab (Tulol Line B.2.. lbra
.) O""",aJ
RequirolllCCls
I) Build.n Qc""T111
Overbead
rn) 1I1Ii1dcr's Profit
0) Ocher - Specify:
0) Gr... a.....bilil.liolt (Cuclnel AmoUDl)
B.2.!,) J-
0,0% (0/0 of Lice II .2j)
so
0,0% (% ofLinc B.2,j)
0,00/0 ('Yo of Line 1I.;!,j)
(Tutal Lin.. B,2.j lbru 8.1.0)
SO $/DU- 0.
p) COO5ln1clioo Coatioseney (Minirowu 7%, nhjcct to MHFA review)
q) Tolal (lincs 20 plu. 2p)
J. Er:l\'ironmo:nml
.) ^halmlcnl Conlnu:t
b) Aba!elllcDl CamiogclIC)' (Agency clelcrmiacd)
0) Total (Lin.. Ja plus Jb)
C. Sofl CosU
I. Prafes.iool Fe.. "' OlhClO Soft COIlS
.j AIl:hitcc~s Fcc - Dcsil\ll ( 75% ofTOlaI) +-
b) Archilect'. Fcc . S~p"....i.ioll ( 25'Y. or TOI.I) +-
TotBl Arcbilec!', Fee. 5112.000
1.90/0 Dflbe toto! Line B.l.b."d B.l.j
c) Marketir1~ +-
d) Surveys and Soil Borings
c) /'ayruclll lIIId P.rfonTWlClC BODd Premium +- (<r.ot include. in cODSttuctioo
I) 8~ildiDI Permit(s) +- (if 001 incl~dcd in eonslNClion coollacl)
g) Sewer-Water Access Charge
h) Appro...1 Fcc +-
i) Energy Audit +-
J) E.ovlroruncnlal Ass...mcDJ +-
k) Call C.Jtificll1iooiAudit +-
I) M...""t SIlI.y +-
m) Till Credit Pee. +-
0) COr!1'lianc. F..s +-
0) Pumisbinp and EquipmCIJt
p) Legal FccI +-
(SyodicaliDll GIld permanCllI f"UllU'lcingulltl arc 001 allowed in. basis.)
V 00..- Fc.. - SpcciJY:
rl) Other Fe... Specify:
'2) Other I'c... Sp.ci~:
.) Tollll (Lines 1..1hru I.r)
2, Dewlap. (. Fee
.) D.""lap....l'ee +-
I) o.:ti:nec D.veloper'. Fcc
2) o.:.olop.,'. Fee Availalll..1 Clo'in&
b) Proccs.ing AFnt +-
0) Other ro.suhml Fc.s (includable IS Dc-v. PCCI) +-
<1) Oth.. (Specify)
c) TOlll De'1:lopcr'. Fees
5575,000
10.11".\0
'Y. of Line VI.D. Line VLC,2.e
3. Tax Credit Syndicaliou FeCI
a) 0r,lmiut;o. F.ei +-
b) Bridll" l.OIUl +-
c) TlIA Opinioo +-
d.) Olbcr Fe..:
.) Total (LiDoI 3.llhru 3.d.)
MHFA Application Form RFP/HTCl 5/2000
8
$0
952-829-5399 10-5
I
i v.2.5
f:1 1
f.j
~J
k.1
J.I
~:I
p. SOl
so
"1
b. .
$0
,
I
.. ~B4'OODI 3114,110O I
b. ~2B,00D ns,ODO
q,
c.
o
S'l.SIlO
25.000
,SJ,OOD
.$J;qOO
$3.000.
$0
$4..$00 "
[ I I
1054,500 I I
53S,OOO I 511,5501
e.
d.
coalJ'sct) e,
r.
8.
h.
i.
j
k.
I
m.
"
p.
s,
I
I
5$15.000 I
;ffi
557S,ODO ,
i
I
:~.'
d. 37.500
~SO;OOO i
i
S37,500 I
r~:1
l2.
S213,SOO
LI
c.
c.
7129/2002 2:58 PM
Jul 29 2002 3:09PM
Peter Andrea Co
952-829-5399
p.?
v. S/ZIJ/lDO:l
E, Cosl Reductioo or Avoidanc..'Loc.al OOllllli"".
I. RcgWatory Incentive. Th. following worksheet mIlS' be eo""t"ed
for eacb projc~l that mcJudcli Regulatory lncentives. which reduce the cosl
ofproduciDg affordable housing. Thele Oa.lRaories arc nCJt IiII inclusive. Please
add any addilional incentive in tbe: opeD 'paces provided.
Electronic Application
v.2.S
IDa:nti\''C
Cost Saw.,s I' or
Total Cost
Unll SaviD.i"
Deoiiry BooUSCJ
Reduced Setbacks
Rz:due.d Parl<ll1g Requirements
n.ae..ed Road Width.
flc~bjlir:y in Site Dc:velDproeDt StaDdllnls
Fluibility ill Zoning Code RequirCDll:ll'"
WAC & SAC Re1iw:ti"".
Fast Tracl Penn.illinl &: Approvals
l"'''VIoli.e naUdiog 'r~lglICI
hlllOYBivc 'Boildio&Matciijals
2, VAlue of donation. that do not appear.. a fundID8 ''''''''e. Sources lnUat h. h.ted
below for iIlcw..lon in HTC acoring for Promote. Dc:velDpfllCllt Cost Roduclioo.
IDCJw1es land do.DJ.tioa..ia-kind l;Ootribulio.usand dDlllJtiocs orla')ar, matz:rials, ,,,,.....ices.1 etc.
SDWlX
CMlla
Type
Value of
Donaliam
I
1~y,~~,r,;,~l:!w~m~E,.i(,j;t~~:.~~llf',' '
":;;;i<:';'!'C:'
".".,
,i'.'
",ii,
, ,
f
n.. MiMe,ota Humo.o Kight. Act .lue. thai I11Y penon or organizalion having 4() or InDr. employees in tho I...t 12 ll1Dath, in the St...
of MinnCiola and involved ill lOlly lr1ID..ction ofSIOO.OOO or more with ..... Ig.""1 muot ha.. Affirm.liv. A..ioo PI.., appro.ed by tho
Stale Depllltmcot ofHW'IlOLD RiPJII. TIu:refun:. DD iIlpplkation.s for 5100,000 or mon: will be .ct'cpttd unlit.li they include either:
A.,
A Q,rtificate ofColllpliance from Ibe S'a', Department ofRwnon Righls (For inmmlllliOlJ caU 651-296-5663)
(for organi2alioru. with 40 or mDr't employees); cw
8.
A olJt..-ized .LaICm:Dl .",ling Ibat th. applyiog orglDiz.alion ha. bad IJ:.. rJUIIl 40 """,Ioy... in 1M SIale
or M ion";OIa iD the I...t 12 months.
c,
Provide infonna. io. no how you iDII:od to mab opportuoiti.. availobl. for womeu-OWDtld or miDority-
olVntd busm851 en.terpru.e&.
Thu application is 6ubmined by the undersigned with the full kuo....lcrlge and ~onamt of the govcruiD& body and is B0CII0I1c: in.1I det.ils, tv
1110 UDdtrsignecr. be.t knowlectgt,
Sigoalure
Date
The Minn.sotl Housing Finance AIII'DCY do.. DOt diaerimirute on the huis of race. calor, .alional OI'lliu. &ct, noligioD, age, 0' disobilil)l
in cmployrw:nt or the provision of 6ClVi&iC5_
CcunmCTIr..'1
I
Equul Opportunity Housing an.d Equal Opportunity E....loym.nt
IF REQUESTING TAX CREDITS
CONTINUE ON TO PAGE 11.
STOP AT THIS POINT IF YOU
ARE NOT REQUESTING TAX CREDITS, AND
CONTINUE ON TO NARRATIVE SECTION.
MHFA App:lcallon Form RFP/HTCl 5/2000
10 7/2912DD2 2:58 PM
~_.~-,~...-,,,,,.....~,.....-, .-.-, "-'---_.~...,_.--......-..__...,_.-------......----...._,,~--,._'"--~-~~--,----,..........-.- ,
-.
v, 5{2ll{2002
Jul 29 2002 3:08PM
952-829-5399
iW.:t!lS.,.
I
)\;!,lCil:llt,l
R.FP Unit
Type
(OBR, 4 ofDU
18R,
2BR.." )
2BR
2BR
2BR
2BR
3BR
JBR
UNITS:
Peter Andrea Co
Electronic Application
"iIi'
:':>'! i;:f'~!;:'/:~~~?J~~:H:,~:ii~j~'~ 1;:~t.:'~~;i~t;~r<h,:,:l:: '.:~,".. '. :'~;~'_;':L;:,_ '~:"'; ':,ir~:;;~i~-~::~~:';:h;c~~f,-~:'1i~n;7~ ,li-;:~,~,,:;,~'.,
. Proposed
Appm.. SIZe MClllthLy
lNel ReQ~blc. Contraet R.o'
Sq. FI.) ofUm'. Per Unit
Mmlhly Gro..
Rmt (Proposed
Cclltrad: Rent.....
Utilitios)
RClleal Rooms
Per Unit...
Total R~ (" of R L" (" r
U. R' P elll IlI1Jt ,,0
n~li x 'r1Jl6 cr AMI)
Unit)
Total AmIua1 Bstimated Cost of
Contns:lllmlt (11 Monthly U,Uitie.
x rent x (2) Paid by Ocrupant
5
I
4
10
17
3
S794
$.794
S9JO
$794
5909
$1,025
$47,640 568 58 fi2 4,5 22.5 30"/.
S9.528 $68 Sll62 4.5 q Sll'Y.
543.680 S68 $978 4.5 IS
595,280 568 $862 4.5 45 Sll'Y.
$185,436 $87 5996 6.0 10~ Sllo/.
~36 ,900 $87 Sl,I12 6.0 I~
SO SO 0.0 0;
SO SO 0.0 oi
$0 so 0.0 OJ
SO SO 0.0 O'
SO $0 0.0 OJ
SO SO 0.0 O!
SO $0 0.0 0:
SO 50 0.0 01
SO SO 0.0 0:
$0 SO 0.0 0,
54'18,464 TOTAL ROOMS: 21P
40
TOT AL GIlP,
. Indicate if: rITC,HOME, Market Rate (MIl), Employee Occupi.d (EO). Owner Oa:upied (00),
Projcel Based A"iotancc (PBA), Holin'ell (MHOP), Fccb:rally As.i.ted(FA)
Utilllle. \0 be pakl by Occupont (E>dudlng Te"~"",,I:
o Water tl sew.,
[2] IVl We,
[2] Housel1okl eloaric
121 Hut 'Type.
121 AlrCardll......ll
o OIl1..--5pedfy:
Sou= 0/ Ublity AllowonO! Calculation (HTC <ode IPS _ 94-60.1'su" 6/96):
@ Public ~ouslng .~lt1orlly 0 Oth.- (5 peery)
I
o Utmly Co'"o.'" Rffective Doto DfSoorc. oflnConnaticn:
'~~,;,~S~l~~~,;i,"}: ',,1::':;:2", ,,,'",' "'c.,'",,,;,"" :;:']';.,';ri;,:,:;"~::';:' '':J..:::::,:.. . '!C"'" :,c.ls.::
l'
,.
p.2
v.2.S
Inc:orae Limit (%
of AMI) Unit Type'
60%
60%
PBA
EO
MR
HTC
HIe
MR
60%
60%
... en: - J,' motnIl
1 81... J.5 rocrnv
1 Ba .....5 rvon..,
) BR . 6,0 ruams
4 BIl. 7.0TgGll'\l
5 BJ." 8.5 rtXnI'.-
.. Rallsl HOIl.ing Potential
b. P..king'C....ge Ral. PDlenl;al
R of surr.ce pukiDg
1/ of ""vcre<! parlcin&
c. Cunan:n:ial Reo1 Pot...,..1 (.pecity)
d. MisccllllllllOu5 Rml Potclltial (Ipotify)
Co Gros. POleatlallUnl (Tolal UnCI Is 'hra Jd)
S4fB;4<14
Mandlly ree
Monthly fec
10
SO
so
~ 18.4!l4
,i" :,:,;,i':::~,.,'::" . ...
~ :i.Ulliiii'llWiWliiSS" '~, ':iJ;)"efi I' . ',j}".,; ;'~;::::;;ir:i"iL,:::.;~'",,:'J::!H:::J;':,Lee, ",
',:.. i.~..I~\l~in~~:~;;;~:;,: ,:.'.,r;::i.
VSCODey Faclor 7.0''' II LiDe 1.-
b. Pll1kina/Oll1agc Vaca.ey
VacODey FICItlr x Line tb-
c. Commcrci31 VacDllcy
VICIIICY factOl lll.ine Ie -
d. Miseellaneous U"",,,Jizad lno"","
c, Employee Relit Cradil&
r. OIlt or Service Unit.
C. ~Ial CooeelSion Adju_t.
h. Bad Debt
I. Tntal Rantal.l.oll (Total Li_ II lbru 2b)
,::!-;,:!~r,:?,;,'II[i-i:,:;J
~~~ ,292
~o
so
I
i$29.292
!
~319,172.
3. NET RENTAL COLLECTIONS: (Lln.l.. mlnu. 21.)
MHFA Application Form RFP/HTCl 5/2000
5
7/29/2002 2:5B PM
Jul 29 2002 3:08PM
~. 5/20/2002
Peter Andrea Co
Electronic Application
,~c::,' ':",:.,', .:,;U'.',:: ",>;:'_'>' ':::.'-':~.: 'ii."'!';;:;.v::,,' .c.:: '1 ~:.
::,'li
,'~ :~1rm;$.R!i';;.'.
a.. T ClIant Feel
b. Oth.r h..""",
Louadry Equipmen., SIDUlVclIT
A.nnual Tax lncrcmenl Financing (11F) Receipa:
Other (S~ccify) ,
c. Forfeited Sc~urity Depolitl
d. mtcresr Income
.. Tolal Otber locorne (Total Line. 40 Ihm 441)
NOTE, FOil HTe ONLY
If there is. a lIepante thaqJc Cor U:OanJ: fBclUtle& I o:mc~. plUlclng, ~ar.8c5, c.fu.h hOU5C. sw~ pool,
'mraac hxkerc, etc., tho ...odared eDIU are not included. in eliCibIe basis.
5, TOTAL REVENUE (UJW;] pIus4e.)
'~.N,
,",.. . !lIJ~:,:-~;:~r~~~;i:<,.:ii :~~; i,~.~'~,i'~~. A~:-:':l~,~:; or.> 'S ~~i.:.:F',ll,i:'F~'. r:~<>~/::' ':; }~~lm.:~;.;: ,'~EJU\.,~ ~E;::;'::~~,~,: ~~-)f'.~ :i:'~ _ !:~8~i:":~"1~!:iI::;
I- ADMINISTRATIVE EXPENSES
D. AdveniJiDg...d M:..-laotiDlo
b, M...as....... fOl:
I Per Uoit P..- Month foe;
'Y. DrTD",1 Rev...ue leu TIF:
547.04
~A%
a. SJ,lll1O
b, 5Z I,QIlO
e. 52..000
d. 54.000
e, 5],500
f. $18,OllQ
s, $2,100
..
b, 51,000
Co $7.9llS
d.
o. 5 I,~OO
f 57,500
II. 57,000
h. $4;000
53,000
j. S~.9!lO
10;. ";100
I, . 5TtOO!!
lII.
Do ~.lMIlO
o.
L. $<\.000
b. 117:000
c. 53.COO
d,
3.5.
4.
c. Legal
d. Auditing
c, Tc:k:pbone
f. OIl-Site M_emenl Payn>U
g, Olber Adlllinistrllion
b. TDIaI Admioi.t"lion (Toul Llft.,la tbru llll>
2. MAINTENANCE EXPENSES
.. Elewlor M.islten&D.CC / Contr....
b. Extonninalio,
c. Rubbi&h Rcmo\'ll
d. Other Cont1'acl Sc:rvK:.ct
e. Janhor Supp1ic~
f. J\ltllmlelWJC"t Supplies.
,g. GrouDds Mamtcaancc
h. Soow llemo\'aJ
i. Heat & NC Rcp.ir SCfYiOCI
j. Geoenol Rcp.ir Service.
k. P:ainllDecorBling M.o.lorials
I. Moimmance & JUl. P.yroll
m. Other M.intenUICC ...d Operating
Q, Other,
a. Total MLlnlenanca (Toul Una 28 Ihru 10)
], UTIUTIES
.. Elemcily
b. Water & Sewer
c, G... &nd Oil
d, TDlal VIIWics (Tol.1 LioelJ. Ihru 3")
J.S UNIQUE OPERATlNC EXPENSES For Suppordve BouslDE
4. INSURANCE
).... '"1 ,., :.' !'~,;:~'ejr"i:?,:~" :~-:." ..:,~' ".;:' '." .,;_...~!.'
_~~.:..~:,,~l:_~.:,::~,!;~~, ,: Lt' r ,"" _ ,. ""n
" , n~\:::~ .:<. ; >.'t.:.
a. TD..I Mgml. and Operaliq Expel"" Pcr U.it Per Mo. (Liac B,S / Total # UDiIlI/12)
b. Tot" MIlI11l-- and Op....linB Expenses Per Room AIIlIu.ally (Lint B.~ / Total N Rooms)
"'~",!"'$~R.~$;~~~~jL;'.'}!)i~~i"'::"J,':':,!
, ~ R~~IE.utt Ta;~s: ' ,. . . '5'f~;'u.ili .,.
Estimated M.,.ket VaIl>c of property
Expected ~ qu:aJifyillg percenlajje
b, Rcp lacClnC8lI Re,,,,,,,, .5 Per Room
c. P.inting ilL Dec:. ({ac"", - Sf Room
d. MiscelJUlClOuli R.cacrve:a -, Per Room
., Total Rese",.. '" Eoer...., (Tolal LID... a tbru d)
$1,050
5120JK)
X I> RoDlJII-
X N Roofl\5-
X N Roonu-
,. EFFECTIVE GROSS &XJ>ENSES (Add IInl:l B.5 Ind 1I.6e)
(Total MglIlt. IfId Opcraling Expense, plu, ReI....... and Esaow.)
8. NET OPERA TINe 1NCOME (LIne A.5, ToI.1 RCWllllO, minu. Lioe B.7)
MHFA Aoolicalion F"Drm RFP;HTCl 5/2000
6
$2-'.200
50
SO
952-829-5399
i1:'"!' ",,~,..., ;-i;
50
S~II9,m
p.3
\'.2.5
50
,,' ';",:-J'~:~"'(,::.;::: J~; ;:....:iW.;; ...<
!S~l ,1500
is,,,,,698
"~ ;,: .:,::'
:.i:i;:':~::_i;: :':
i
i
: 524,000
I
i 5\2,000
I
t5~,29g
~38
i 5773
'~:;";) '.. i':n :~J;';-,::' .
542,000
I $67,200
i 5229,491
15159,674
i
I
I
:,
7/29/2002 2:58 PM
Jul 28 2002 3:08PM
Peter Andrea Co
v. 512W2 002
iI.'m
Electronic Application
$. .,' -'.'t' !j',
A. Net apentinglnc:omo (LiDo lV.B.S) - Ofzoro (SO) Dr minu" ,kip thi, ....tilXl aud go 10 Sectlao Ifl.)
B. D.b, Co....ag. Ratio
C. Nr:t Opr:rati.ag Income Avail.ble for Dt:br Servitz
(Net Opcr..ung Income dividcd by Dobt Caverage Ratio
I. Inlo"''' Reductioo Payment (lRP) for Exi'tin!: HUD Ill.iured Mortgag.
2. Total Net Operatiag lJxomc Available for Debl Service and IRP
D. AnDuaJ Debt Se.vice fur propooed Subordinated Debt, ifony:
Other Amonizcd SubonliDalcd Debt,
Lender
AmortizatioD
Tr:nu
Service
Principal
Ral.
Term
I I I
TDlal Annual Subc..-dinaJed Debl Servie.:
E. Tow 1'., Opcratinglncomc Available for Debt 5..,,;e.I.... Total Anoual Subonl.inaft:d D.bt Sende.
eLiDe V.C.l minD.! LiD. V.D>
F. E,timaled Ma.imUJD M ortpge Bloes! on Income Approacb:
1. Finl MDrtpllo Te~
Torm: )().OO Yeu. ~te: 6.05% Yeus;
a) Dobl Service FaciOI' 0.072H2267
b) PI... Aaaual Fee Type:
c) Total Debt Service FaclDr 0.074276733
2. Mu:lmam Mortgalll'
(Net Opcrluinglneome (V.E) divided by TOIaI DebtS.mce Poetor (V.F.l.e)
3. N.t Morrglge LoaD (Maslmum MortPIl. dI..lded by 1.04)
(Appliu to MHFA lst Monplt IollDlllllly)
4.
. 0 V 5.2 min... LiD< V.f.3
'Vh
.;,
A. Acquisition or RelinaDc. Eli.uug Debl CIISls:
I. Acquioitioal RJ:rIll3DC.
a) LBDd
b) Exi.ling Srn.elurC&
c) DemolitioD
Toml Acqui.itiaul RcfllllUlct
2. Special A....smcnt.
J. Other ('Pocify:)
4. Tolll (Lin.. I I hruRgh J)
S 11\.600 SIDU
50.00
50.00
50.00
SO
SO
5/gr"". ...'
S/mIJ-
S/gros. ....
SIOU-
SIOU R
0.-
11.-
SO SIDU-
53,893,000
b.
0.0% % of Line B. Lb-
0,0% % of Lin. B. Lh-
0.0% 'f; of Line B,Lh-
11:) Builder', Profit
I) Grois Con.ll11cllon (Cunlract Amount)
(Total L.... \,h lhna I.k) SO "DU = l.
m) ConS1I'w:rioa Contingency (Minimum 4%, .~bject to MHFAn::vicw)
n) Tolal (Line. II plu. 1m)
53.893.000
MHFA Applic~\ion Form RFPiHTCI 5/2000
7
Aanu.al Debt
I I
952-829-5399
.>~:: ,~;!:';:..~;; :;:.
S'~S9,614
II.UOO
S 138.841
5 i38,847
V.D
50
1i~38,847
Amonizalion,
30.00. MlP ~.:
Dobt Scrvia Factor iitb MIP
0.25'1.
0.CJ1427673S
Sub Tot.1I:
4,
;:1
S 744.000
B. If N.w ConstrucUII" complete Section /ill below. Lr Rehab/litlllon. cOlllplete :S.cUon /fl below:
.Por HTC ONLY, IF a 'eparatc: foe.. ebBQIcd for _ oftlle.o fa<:iJitje,. the ..."ciab:d coo'a are nol included in eligible b..i..
for KTC Only: "+" DcoDlos IDl0:rmc4iary C0613
I. Now Construction
.) Rnidcutial
b) Garagos.
e) Acc....ory SlTuerur-oo.
d) On Site Work
e) Off'Sito Work
l) SpecifY Other:
IV Specify Other:
h) Not Co..lrllctlon
(Tow! \.;no, B.la.1hru B,I.o.)
i) GlSPeraj Rlquiremenu
j) Builder. a.Deral Ov.rhead
IL
m_1
S4.0~;720
51.869.320
SI.?!n,42J
hl.897
I
TCI"'I~DI\I
~:I
Sf44.000 I
i I
a,
u 93,000
$3.893,000
b.
c.
d.
i
..
r.
8.
I
1:F=t==l
,
i
i
!
~15S.'20 I
i
k.1
7/29/2002 2:58 PM
p.4
'.2.5
Jul
29
2002 3:08PM
Peter Andrea Co
V.5/20/2oo2
Electronic Application
2. Rehabilitation: (if Inilable atta<:b a moro dotailod lCOpe; olherwisc, compl"'olhis .o"'ian).
a) Site worlc: (grading, pIIyins, dBinlae, lind,capo, utilitios, ore,)
b) El<torior: (includo, roof, ,idiDl!md trim. window. IIDd cIoo", ot<:.)
0) Garage." $0.00 $1_0-
d) Aecossory Structures- SO.OO $/sro.. 'q, ft. _
e) lDterior: (includes cabiDctl, appliances. f1Xtuf';J. and ~IIJJ,
ceiling. Uld floor frnisho., ole.)
I) Mocluonital S)'noms: (inch.des bearing. lir cObdilianin~.
plumbing, aDd fIXtures, c".)
g) Elccmcal SYSlcm.: (incll.1cL:s service, wiring. IWd fiKIUn:S)
h) Speci~ Other:
i) Specify Oth...:
J) N.t Rehab (TUII' Lln. 8.Z.a tbra
k) O...craJ
Requiromeots
I) 8uildcr's Qc""ul
Overbead
m) Illlihtcr's Profil
n) Othcr - Spccil)-:
0) Gr.. RelmbiliC.tioll (Cootr.cl Amuuot)
B.I.!.) J-
0.0% ('Yo of LiDe B.2j)
so
0,0% (% ofLine B.2,j)
0.00(0 ('Yo ufLinoll.:?',j)
(Toad Lin.. B.2.j lbru R.I.n)
50 S/DU - u.
p) C0Il5ln1clioD COlltiogcncy (Minimwn 7%, subject tD MHFA reviC'N)
q) Tobll (lines:Zu plu. 2p)
J. EnYirOllll1Onral
.) Abatement Cantrw:t
h) AbarcmODl COllliog.acy (Agcnty do..rmiDod)
e) Torel (Lin.. 3a plu. 3b)
C. Sufi Cos IS
I. Prof....ional F... & Olh... Soft Co.l.
.J ATl:bilcc~' Fcc - O..iSl' ( 75% ofTOlIlJ) +-
b) An:hilecl's f.. . Sllpcrvi.ioa ( 25"/0 of Total) +-
Total Archilec,'s F.. - SI12,OOO
Z.9'l~ Dflbe 10121 LlDe B.1.b."d B.Z.j
<} Marketing +-
d) Survey. and Soil Boring.
.J f'&ymoalud Perfu"""",," BODd Promium ... ( if not iDcluded ill COD'lIUctiun
l) Buildiaa Ponnil(.)... (if DOl included in ean.II'IIClian canll,..!)
8) Sewer-Water Acccss Cbarge
h) Apprai..l Fee +-
i) Energy Audit ...
J) Eaylronmonlal Ass..smom +
k) COil C.rtifiea1ioniAudit...
\) Muloot Study...
m) Tu Credit F eo. +
o} Co~lianee Fee, +
u) Pumisbinp llnd Equipm...t
p) Legal Fe.. ..
(S)'Dllicalioa IUld perman...1 flDalleinguOlIU'C bot allowed in basis.)
III Olh= FOOl . Speci/}':
, I) Oib., Fe.. - Specify:
rI) Other feos - Sp..I~:
.) Tolal (Lilles I.. thru I.r)
2. O.""lo""f. Fcc:
a} De"" lop""1'.. +-
I) De1em:c DeveLoper's F.o
2) Developer'. F.e AYaUalJle.' Closin&
b) Prucc5,ing A.Ilml +
c} Omer ConsuJlml P..s (incluclablc IS OI:v, Pcc.) +-
d) Diller (Specify)
e) To"'l O.""Jopcr'. fc..
55 n,ooo
LO,ll".!.
% of Line: VI.D - Line VLC.2..
3. Ta:x Crcdil S)'Ildiclliou Fccl
a} OrlllDizalicn Fc.. +
b) Bridp: l.OID ..
c} To Opinioa +-
01) Olb.r F..:
.) row (Lin.. 3.. tbru 3.d)
MHFA Application Form RFP/HTCl 5/2000
8
952-829-5399
I
!
p.5
,,2.5
f"1 i I
[.1 !
~.I !
$0
k.1
J.I
~:I
p. SOl
SO
::1
SO
q.
c,
a.
b.
c.
d.
contl'act) e.
f.
,.
b.
i.
j.
It.
I.
IlL
II.
o.
p.
i
!
~84,OOO J
$18,000
;
SIH,OOO I
S2S,OOO
5'1.500
25,000
S3,000
,$1,000
$3,000,
I $0
$4.$00.'.
I I I
$4,500 I
53$,000 " 511,5S0
s.
I
I
s$75,ooo I
;ffi
S57S,OOO i
I
I
I
~~
d. 31.500
$SO~OllO i
I
537,500 I
q.,
11.
rZ.
$213,500
LI
..
..
7129/2002 2:58 PM
Jul 2S 2002 3:09PM
Peter Andrea Co
952-829-5399
p.?
v. 5/2lJ/l0D2
E Cost Reductio. or AvoidaneelLogl DODati"".
I. Regulatllf)' Incentive. The following worksheet must be completed
for each projcctlb.t includes Regulatory lneentive, wbich ceduce the: co'1
ofprodudDg affordable bousi.ng. These CaJRaoriea are not .lill inclusive. Ple:aJC
add lin)' additional lnClCnlivc in rbe OpCIJ spaces provided.
Electronic Application
..2.5
loa: ntive
Cost S,vinas Per
Total Cost
Unil Savin""
DeOiity BoDuse.
Reduced Setback..
Reduced ParkJnR R""Uin:meDIs
Dca..,od Rood Width.
fh::x.ibiliry in Site Developrm:b( Staud..ds
Flexibility ia Zooiag Code Requin:mellti
WAC &: SAC RctlIICti.,.,s
FlU. Trac!: Pmnittin& & ADDl1>voI,
hUlo..i.e Duildiag 'r~lq,,"
IlIIlOVltivc' Builllill.llMatlZjal~
2. V&lue or dOl\lltions tlr.at do not appear a. 0 fuudiDs '0111'O<. 50lU'Ce' IllUIt he Jillod
below for mew/on lis HTe acoring for PlQltIllc. Developmeot Cost Reductioa.
laclwleo land do...tiOll,io-kind a>atribuli",u and dINutio., onah<<, IDllbcrials, sorvic.., ote.
Souroc
r
C""tact
Typ.
V.alueor
DOllalicn
i'ftI.~~.~~~m:E.',i~H'
~ Minnclcta HWllIJ] R..igbu Act Itl.tcl thai any.penon or organiUliDn having 40 01 InDre flmpJOYCC5 Ut the lut 12 1nD.atb:l in the Stile
of Minnosola and involved in aoy trao"clion of 1100,000 or more witlt "Ole Og.DCy mull ha... Afftnn.tiv. ActlOll Ph.. .pproved by tho
Slale Dcparuncnt ofHLlJlll,I..D kishl.. TIL,rcfan:. DO ItpplH;iDoB:l for S100,OOO or 1OO'rt: wiIJ be accepted unJcis they include either:
A.
A Certificate of Compliance from Ibe Stale Department of Humaa Rights (For infilml4li.., call 6~ 1.296-5663)
(for OIgani:zations with 40 or more ~oyc.,): or
B.
A D01ariled Slalcm:DL stating thaI the app!ylng organization h.. had less ibM 4D employee, in Ihe S101e
cfMinn..ola ia the 1...1 12 month.,
C,
Provide informatioo nD how you inkDd 10 mala: opportUa[tics available fnr lYarncu-owned or miDorily-
o,,,ntd business elD.tmpri.ses.
Tbi> application is .ubmin.d by lbe undersigned with tho full.....wl.olg. and cement ofth. govtlruiD8 body md is tICCUOlte in all dotoils.lD
tbe undersigned'. bost 1CD0wledgt.
Si8'lalur.
Date
The MiMesola Housinl: Finance Ailt'DCY do.. 1I0r dW:riminate on !he lJll.i. of race. cDlor. ll.ItLDnal orgio, se~, religioD, age. or disabiUty
in ~mploynu::nt or the prc.vqjon uf 5CfVi"cs.
C"mmCOOl
I
Equal Opportunity HOllllocond Equal Opportunlty E"",loymenl
IF REQUESTING TAX CREDITS
CONTINUE ON TO PAGE 1 J.
te:mn,~ii.
STOP AT THIS POTNT IF YOU
ARE NOT REQUESTING TAX CREDITS, AND
CONTINUE ON TO NARRATIVE SECTION.
MHFA App!lcatlon Form RFP/HTCl 5/2000
10
7/2912002 2:58 PM
"."'.........,.._._..,~""_.._..._.;_.__._.._.."-------"-
Jul 29 2002 3:08PM
Peter Andrea Co
952-829-5399
p.2
v, 5{2OflOOl
'.<.5
;lJ7;',I:!lS',,',
Electronic Application
I " '(" >:;l ' r' ,: :;_' }::1?;;~~~(: :~~P~!~b:'W ..,i~id~~f S:i,i,' ;~}~~;::~r;':{:.>'~:,;f -- '-:-'i" ~ ,~::~ ':,~ ~;;; i~.i, ';: :~-~:'~:~~~" ,,:.f5, i ~j~~~ j: ~T' "!:<~~ailJ{~ :;~.,:' ~:i'~~i:~ii~;H : ,; :::~~i' l ".... ~
",...... ';, .....
RFP Unit Proposed Moothly Gr05s
Type ApproK. Size MlDltDly Total Anaual Estimated Co., of Rent (Proposed Relltlll Rooms Tolal Ro~ (~ of Rent Limit (a,'. of Income Limit (%
(OBR, q ufDU (N 01 Roo~blc Contract Rea' CODlrUI Rmlt (II Mombl y Utllitic. Cenl..ct Ront'.. Per Unit... Un;" . R@DIIi Po, AMI) or AMI) Unil Type.
JBR., Sq. Pl.) ofUrli.. x ",ut x 12) Paid by OCCUp&I1t Unit) :
Po,Ullit Utilitio.)
2BR,elc,)
2BR S S794 547,640 .568 58 /i2 4.5 22.5 300/. 60"1, PBA
2SR I S-794 S9,528 $68 $862 4.5 4.5 Sllo/. 60% EO
2BR 4 S910 543.680 $68 $978 4,5 IS MR
2BR 10 5794 595.280 $68 $862 4.5 451 5()'l.~ 60% HTC
JBR 17 S905l Ii l85.436 587 $996 6.0 10Z 500/. 60% HTC
JBR 3 $1,025 $3~ ,900 587 $1,112 6.0 I~ MR
SO SO 0.0 0'
SO SO 0.0 0:
$0 SO 0.0 OJ
SO $0 0,0 OJ
SO $0 0.0 Oi
SO so 0.0 0:
SO $0 0.0 0'
SO $0 0.0 oi
SO SO 0.0 Oi
SO SO 0.0 0,
UNITS: 40 TOTAL GRP: 5418,464 TOT AI. ROOMS, 2111 ... m.. J.' marlll
UtHII\e) \0 be paid by Oc.cu~nt (e.dudlng Te6ephone);
181-3.l.......
] sa.. ",S rwne
] sa. "'6.0TOamS
4- sa.. 1.(l 'RJamI
5 sa .. 8.~ roGmI
. Indi""lc if: rITC,HOME, Muket ROle (MR.), Employee Occupicd (EO), Owner Occupied (00),
Projecl Bued AII;"'''''CC: (PBA), Hc.tlmlm (MHOP), Federally Assi.ted (FA)
Dwatcr&_
o "'I w,*,
o Household EIec1rie
0_.Ty"",
o I.lrCDrdIl...~g
o OIl1!'f-5POCify:
Sou"", of lJtl~tv Allo"",o", Calculo_ 1HTt: code 1~5 _ 9Ho.l.lUed 6(96):
8 Pubic HcaJ,'o9 AoAI1orlly 0 Ottl..- (Sperry)
I
o UtHrty Cotnpany E.ffective Date DfSourc:c oflnforJ1'latic:)n:
.':'{;d!i~.S~~<;': .,', \';""'::"<.:;:.:<c;~; .:::j:'j:~3;:;'-/ \:~/;" I,':':: '.'." ".-,.,", ;,'.;;;;:' '1'
I. Rent&! HOIl.i118 Potential
b. PukiDwGanlle R.n' Potenti.1
~ or surlacc pllkiDg
II of c:ovcred pllkiDi:
c, Con.....-cial Reot PDlm".l (.pceify)
d. Mi.ccllllll<lOlI' Ront Potential (.peciry)
to Gras. PatealiallUnl (Tal.1 Un.. Ia the. Jd)
'ti;'~,iiililt!illltiSS't,:c:,,;')l:.:!:::iiiTI}~!,,~NI'~''ii:: ':i}:;.;: :.'t :::; ';: ;;1,'(;, 'i' .::;;','.:c,jJi[:!i,; iJi',.!:;:,;::,. ,:.
1_ Rcnllll HOUJiDg Vacaoey
VacllDty Factor 7.0'4 II LiDe L.-
b. Parking/Garage V....ney
Vacancy Factor a Line Ib-
c. COl'lU'llCrc::al Vacaacy
V""ancy flCtOT II LiDo le-
d. Miscel&.ncous Unnoalizcd lncome
c. Employee: Relit Crcdill
r, Out of Service Unit.
S. Ill:nlll Cooc...ion Adju_15
h. Bad Debt
I. Tntll ReDIal LOll (Totll Li.... 2 a tbru 2b)
S4fliAM
Monthly re.
Monlhl~ fee
'0
!O
SO
:" :':!-;i:~:~mi,'~!,;ti:,,:,
~18.4~
'd ':",,,;'::U.,,';'
S~~ ,292
$0
so
1$29.292
~3B9,172
I
I
J. NET RENTAL COLLECTIONS: (Line 1.. miD'" 21.)
MHF'A Application Form RFP/HTCI 5/2000
5
7/29/2002 2:58 PM
Jul 29 2002 3:08PM
Peter Andrea Co
952-829-5399
p.3
,:. 5/20/2002
".2.5
,.It.....~tNtaRj'ii;
L TcnllDt. flXl
b, Olber IncOrDC
LauDdr) Equipment' SIDUlVcar
Annwsl Tax I.ncrcment Finaocing mF) Recoip..:
Other (Srecify) :
\~,.."
Electronic Application
. ". < ...., ,;;;,;'::::',";:::-,i~;: ,'J'i'!'{V'''',o<
;'i:1'.
;},li
. .~r "'il"";
.,.,....,...
,;.:.,-
" "-"'"
.'1':"
so
c. FDrfeited SCi:urity Depositl
d. mtcre&t lncome
e. Tol.1 Olber IncDIIle f[ottll.lDes 40 lhm 4dJ
NOTE, FOR HTC ONL V
If there is. a lepanre charge Cor tcDBIlI facllLtlelii I oftkcs. puking, BarDge.. "tub houie. swinun.int pool,
.m"F locunIi, e!-c., Ibe ...oeialed eolU are Dot included in eliGible baili.
5, TOTAL REVENUE (Llnu3 plus4e.J
$0
s~lI9..m
, "
.j" h:. .,:~. ',";)"~;:!::,::<':: i ,'''; t;,t', ~.:~~_~- -;;
1. ADMINISTRATIVE EXPENSES
D. AdveniJlag...d Market~
b, Maugcm:al Pa:
! Pcr Uail Per Moath Fcc:
'Y. or Tollll Rev...ue Ie" TIF:
$47,04
5.4%
c. Lep!
d. Auditing
e, Tek:phonc
t: On-Silc MUlAll"",eDl PaymU
g. Olber AdmiDi.trllioc
h. Tola' AdmJoiatralioR (Total LlII.. I D thru lilt>
2. MAINTENANCE I!Xl"ENSES
a. Elevalor Mai.clcnancc I Contraet
b. ExtcnniDatia,
c. Ruhbillh Rcmo,'al
d. Otha" Contt'acl Ser\liceJ
c. Jaohor Supplie,
r. Molal.DUlc, Suppli..
S- OrauDd. MointoolUlCe
h. Snow Remo,'a1
i. Hcsl &. Ale Repair Serviceil
j. Gcnersl Repair Services
k. PaintfDcc"l1II:inS Mal",iali
I. Main-"ec dI: I.... Payroll
m. OIhcr Maintenance ODd Op....ting
D. Olher:
o. Total Maintenance (fatal Lina 1a tbru 10)
3. UTIUnES
.. Elcaricity
b. W..r.:r &. Sewer
<, Gas and Oil
d ToI.1 VUWici (Tall I LIDes 31 Ibru 3c)
3.5 UNIQUE OPERATINC EXPENSES For Supportivo E1o..s1DR
4. INSURANCE
I
a. TOLd MJPDl, ...d Opc"'l~ Expe"se. Per Uall Pcr Mo. (Li.e B.S I Total Ii UDilIi 112)
b. Tatal Mamt- and Opcraling Expeo.e. Per Room Atulually (Lirn: 8.5 r Total ~ RllOllU)
..r,c,'~~~~S~~,~~"~~~~'iL;,,,"..~;':~\'~i:'."":"Xi.';::;;,.,.
.. Real Estate Tlxc. - S Per Uail
Eotimated Market Value ofpmpcrty
ExpC<led 4d qu.a.lifying percenlajC
b. RcplacCD1Clllt Rc.cnc -S Per Roam
c. Painting &. Doc. ~rvc - Sf Room
d. MiscelJmcolJl Ilcaccvea -$ Per Room
e. Total !lese...... & Eo.".... (fotll Lloes a thnJ dl
"S.Lic./f:
5J,050
;':>}:.:~:il}}<.;':\!<:):..
X # Uni.":"
1J311
i $773
",i,:,'::"~<,.:;');::';.~'::I':;:;:; .,...'
S42.llOO
$120.00
x ,. RooDll-
X Ii Roonu-
X Ii RDOIlU-
$25,200
SO
SO
7. EFFECTIVE GROSS EXI'ENSES (MId noes 8.5 and B.6eJ
(Total M(;IIIt. &lid Operating B_. plu. Roa...ves and :e.Q'aw.)
8, NETOPERATIl'IG INCOME (LIne A..5, Tolal Rroemae, mlolI.Lia. B.7)
$157,200
15229.49g
!SIS!1,674
,
i
I
I
MHFA Aoolication F"orm RFP/HTCI 5/2000
6
7/29/2002 2:58 F'M
Jul 29 2002 3:08PM
Peter Andrea Co
952-829-5399
p.4
v. 5!2Of,lOO2
'.2.5
;;'~1t;
A. Net Operating In""me (Line rv,B.K) - (If...., (SO) Dr minu".kip thi, SCC;';llII and 80 10Sectiau V),)
B. Debt Co",rage Ratio
c. Net Opc:r~tU:li Income Avail.ble for Dr:bt Servit%
(Net OpcroOting iDeomc divide<! by Debt C"""nge Ratio
I. lnl.re.t R.duaioD Paymenl (lRP) for Exi&tinj; HVD 1115111"d Mortgllll.
2, Tobl! Net OperatiDg lw:wne Avwbl. for O.bt Service and IRP
D. AnDulLl Debl Service fur propo",d Subordinat!:d Debt. if lUlY:
Other 1Vno1'1iu>d SubonliDated Dcbt,
S'~S9,674
I I.lS00
$ 138;847
S 138,847
I I I
Amortization
TrnD
AoDuaI Dcbl
Service
Leod or
Principal
Ral.
Tonn
I I
Total Annual Subo.-dinaJed Dcbt Service,
V.D
so
E. Tow"", Operating lnoum<: Avail&ble for Debt Senie. 1= Tala! .....un..l Subaniinared nebt ScTv;ee
(Lio. V.C.2 minu. Lin. V,D)
F. Estimaled Maximum Mortgage Basell! 00 Income Approlch:
I. Finl Mortgage Term!
T.rm: 30.00 V.." R.lte:
aj D.bt Servioc Facio<
b) PI... AtmWll F..
c) Total nebt Service FaclDr
$~38,147
6.05%
0,072332267
ycu.:
Amortization: ;
3Il.OQ ...tIP Rat.:
Debt Servi<:e Factor iilb MIP
0.2S%
0.D7427673S
Typ.:
0,014276733
2, MulmaBl MortEalll'
(Net Operating Income (V.E) divided by TOlal Debt Sorvice P",,'ar ( V.F,I.c)
St.~69.320
3. Net Mortglge Loaa (MlUirrwm MortPlo divided I')' 1.04)
(ApplioltD MHFA 1st Monpl" kl_ DIlly)
4,
$I,}",423
hl.897
I
;
'YI.,.
. ,.lI"
A. AcqulsltiDn or Refinance Exiltio& Dlfbl COlts:
L Acqui.i,icol Rcr....oc.
I) Laad
b) EJlisling Str=luros
t) DcmolilioD
T oml Al:q" isitiaol R.funlD""
2. Special A".'5mCDI.
3. Dllu:r ('P.cify:)
4. TonI (Lin.. I Ihrollgb 3)
II. If N,,,, Constrllctloll, complote Sedion #1 below. II Robahllirstloll, complete 5ection n below:
.Por HTC ONLY: IF.. "'parlle fee is cbUJIcd ror use of the", rldlilie., tho anoeiatr:d costs are nol included ill eligible lI",il,
for HTC Ooly: "-t-" Denot.. Intc:rmcdiuy Casla
I, N.w Construction
.) Rcauh:utial
b) Garlg.s.
e) Aa:C&lory StJuCturcl!l"
d) On Sill: Work
e) Off Site Work
l) Speclry Other'
g) Specify Olh.r:
h) Net COIWrrpelloo
(Tol8l Lin.. B,la,lIuu B.'.c.)
i) GeaenJ Requiremcnu
j) Builder. G."""I Overh.ad
Sub TD....
I
TOtlll ~DN
SI~,600 SIDU
::1
Sf44.0001
i I
4.
~:I
5744.000
50,00
50.00
50.00
SO
$0
S/gr"". sq. fI, -
S/mll -
S/grou sq. II, -
SIDU-
SIDU -
...
S3- 93,QOlJ 53,893,Qoo
,
b.
c.
d.
e.
f.
g.
$0 SlDV-
b.
$3,893,000
k.1
i
n~
,
I
i
!
~155.720 I
0.0% % of Line 8.l.h-
k) Build..-', Profil
I) Gros. ConltnIcllon (Contract Amounr)
(Total LiD... l.h thnr I.k) SO S1DU = I.
m) Cons1rw:lillll Contingency (Minimum 4%, lubject to MHFA.r<:vi.w)
n) Totl! (Line. \I plu. 1m)
0.0% % of Lin. 8.l.h -
0.00/0 .'" of Line 8.l.h-
53,g93.000
D.
m_1
S4,1l'lS;7.20
MHFA Application Form RFPiHTCl 5/2000
7
7/29/2002 2:58 PM
Jul
29
2002 3:08PM
Peter Andrea Co
V.5/Z0/lfJJZ
Electronic Application
2. RdJabilitJllion: (if IV8j)abl~ ett&dJ . more detailed scope; olhcrwise, complC1c this scc;t;an).
a) Site work: (gradini, JIIlving, drainale,llIIIdscape, utilities, ott,)
b) Elttcrior: (includes roof, .id~ IIDd trim. window. lIlld doors, etc.)
0) Garage." $0.00 $/_e-
d) Accessory Structures'" SO.OO S/gros.s sq. ft. -
e) w[erior: {im::ludc:J cabinets, appliancc!, flXnuc;5, and willi,
ceiling. md n'1Or fmishcs.. clc.}
t) Mechanical SYIl~ms: (includes Itta,ting. air conditioning.
plumbing, aDd rlXtures. el<:.)
8) Electrical SYllcm.: (includes service. wirin!,. a.ud fixbU'cll)
h) Spec il)i Oth.,-:
i) Spedl'y Olh...,
J) Net Rehab (Total Line a.z.. tbr.
k) G""",a1
Iloquiromcnu
I) Build.,.. GeIlf.TW
Ov.rbw
m) Buillic:t's Profit
0) Other - Specify,
0) Cr~ R"ubili..tion (Cootrecl Amouot)
B.I,I,) J.
0.0% (% of L-ine B.2j)
'so
0,0% (% ofL-ine B.2,j)
Q,Q"fo ('ll> ofLiIle B.:!,j)
(TuIlIl LiDl," B.I.j tbru 8.I.n)
SO S/DU- 0.
p) COGslruclion Contiogency (Minimum ''Ie. SUbjDCt to MHFA review)
q) Tobll (lines Io plus 2p)
$0
q,
J. EDvironmcnllll
.) Abatement Canlnltt
b) AbalcmeDl COalinge.C)' (Ageru;y dClenni.aed)
0) Total (Lin.. Ja plu. 3b)
c.
C. Soil Coot.
L Prof...ionol Fee. &. Oth.. So~ Costs
aJ Arcbitcc~s Fc. - Dc.iSJl ( 75% afTolal) +
b) An:hileel'. Fee. Supervi.iolJ ( 25% of Total) +
Tocal Arehitec,', Fcc. 5112.000
2.90/0 of the 1012l Line B ,1.b ud B .2.j
oj Marketing +
d) S""'cys and Soil Boring.
ej Payraellllllld PcrfonTWlCZ SOlId Premi"",'" (ifnot included ill construction
l) BuildiDa Permit(.) + (ifaot included in con'IrUClion contt..l)
8) S~cr- Water Acces.s Cbarp:
bj Appraisal Fcc +
i) En..1IY Audit +
J) Environmental A55e..meDJ +
k) COil Cenifiell1iOlliAudit...
I) MukN Study +
m) Tax CrediJ Fee. +
n) Co~lillllee Foe, +
0) Pumisllinp.nd EquipmCDt
p) Lela' Fces ...
(Syndical ion OIld ponnon..,1 rlDallcing!cas arc Dol aUowod in tsa.is.)
qJ 00.. Feel' S}lccifY:
.1) Other Fo... Specify:
II) Other I'e.. - Spcci~:
.) Tollll (Lines 1.. lIuu I.r)
..
2. Dcwlopef. foe
a) D.....lop.... Fee +
I) o.tmcc Developer'. Fcc
2) Developer's F.. Available'l Clo'lIIi
b) Procc..inB A""... +
e) Other Con'Ullonl Pee. (includable as Dev. Poca) +
d) Diller (Specify)
e) TolAl D.."I"".... Fee.
SS75,OOO
10,8%
% orLiPc VI,O. Line VLC.2.c
e.
3. Ton: Credil Syndicillioo Fcca
.) OrJmization FeCI +
b) BridiC L.oOll +
c) Tax {)pinioll +
d.) Olbcr Fe..:
e) TolaI (Line. 3.alluu 3.d)
c.
MHFA Application Form RFF"/HTCl 5/2000
8
952-829-5399
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b.
c.
d,
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f.
8.
h.
i.
j,
Ie.
1.
m.
D.
D.
i
~84,DOIl !
~Z8, DOll
SII-4,DOIl I
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S7,S-IlO
25 ,DOll
S3,000
SMDll
S3,00!l:
$0
SZ2.,soo
r I -I
1.54,500 I 1
$35,000 I $11,550
1'.
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5$75,000 I
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d. 37.500
$59:000 '
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5213,500
...1
S37,SOO I
7129/2002 2:58 PM
Jul 29 2002 3:09PM
Peter Andrea Co
952-829-5399
p.S
V, 5/20/20l11.
\/.2,S
Electronic Application
4. Financws CD&~
a) Huard IDd Liai>iliry [nsUTllDce
b) CDDJtruc.iOD lm. .1: +
c) T.... durin{! cao'lruL'tWn +
d) Ascncy lnop.ctioD F..( MHPA Finl ~onl!l'geOnly)
(.5',. of 81.... cOD.truotWa to.t. See VLB,I.) +
e) Other Iaspeclioa Pee +
o MHF^ OrigiDalioo Pc. (2% . TMC Ie.. DCE & appropriated fUDd.)>
~) Other OriginatiOD fee (PermaneDt f"mancing ree not eligible for basis.) +
b) Mof1B.&8elnsUTillU:c Premium +
i) Revenue Bond Inmium T
j) Title and R.ccordine +-
k) MHFA DeE (Lin. Y.f.4)
I) alber, Specify
rn) Other: Specify
n) 0Ih:r: Speeily
0) Tot.1 Financing Co... (line. 4,alhzu (,0)
D.Total Murtgageable Costs (TMC)
lTolal ohuhlo....I"'..) 5147,293 pc< uni.
E. NOD-Morq:ag..ble CDIlfS (pnr ..ampl.: Syndication Rcscrvct)
L Specit)':
a. Specify:
.. Specify:
rnooth I
a.
b.
e
d
,
r $10,000 $10,000
I $.40.000 $40,000
r '5..000 52,000
$19,465
I
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5260,489
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-..~I'.--.-- ---.--.--.------.------.-,,--..---------, "..--
....-..-..---..----
-..------...-----.-f..+--...... .-___
F. Totll Developmeol CDS! (rDC) SQ. 001
(rata; liDe. VLD aDd VI.E) PcrSq FI
G. Totll Bill, for Tax Credlll (Sum pf 3D.,. + 70% PV B.sis)
1~,lli~~':~~_Ir:.~,..:";'T.:;::!::'!i2h;..~::i:i:j~:iJi~[Gr';::;,;:;',
A. SourOC$ ofFwulina= ~.t:u:hmlln J\iortij.:lr.t!' .
('
.__........_~.~---...._-_.__._--~_.
.----..---. -..-....
-.....-.-... -..~ ......--
. ....----_..._.__n.___._._.__
Pt._-.~.._-- .-...,.._.__~._-:....~-._..-_ __ ___-..._ ._.~_
.-- .---i-__,_______-.._
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7
.a.kulatt:d Ga , '-'-
NllIJII: of S"UTce Terra Rale I
MHF A Firrt MortPl!C -
G......u l'anucr CI&b
Syndic.tion ProcetJd.. J.....re<lPnx...
Me' Council SAC WAC
--
-.-
.---
-"-.
.---
.....-..
TOTAL
'--
-----.--,.------ ----~.:;. ---.-.---- -- --- ----~: ----_._--1' --- -- -
.-- --.--. ....~--- -- -.
-.....- - -- .-
--~ ---- - - ---. h_ - --- ---j--t _________._ _u _
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- ---
---=---+lrk;Jf!~~Jl~;;:~--~--===_ __
~==:~2==-~pL~=~~----
-------- .----~r------- -, --------.-h--.-.---~r=~' YY!:~_ ~-_--
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---- --...__._._--~. .._--~--._.-..- --------.- ~-- -------..- ~._---- ~_.
9
10
II
12
1)
14
15
., ._~-.._._..;-
, i ..--.----...-~._.- -- - ..' --',-" _____.__..__
. HOUSING TAX CREDIT ONLY: Liil syodicaboo proceed. fmmh..l.-________, ______ ' :
.. HOU5NG TAX CREDIT ONL y a.eek >"Or rDr acnm:c:. of fmancwg which muST be me,uacu --;;:::.::::-:.;--_-__..-: :-. .--~._,,-,+-.-.-----_._-_..____.___ _ . '_____
8. Other ~quu-cmeDts
I, Worl<inj;Capil.al EllolUw(3'" ofMHI'A Net MortPF)"
MHF A 1st ITllJI'l&&&C only
2. Rl:ntUJ>Eocrow (3% of MHFA Net MOr1l:8l:c)'
MHFA 181 mortellp: only wilb uDoccupicc1 buildiJq:
3. In.WUlte &C.ow ( MHFA dercrmine. 5) far MHPA Isr Mmgaa"
4. Other - list:
S. Other -- list:
"CLlI he Cash or LeUIll' ofCrcdir.
C Ma.imum Allowable R.t:1JUD 011 Equity
(I D'Y. of owner ea.h LiDe VIl.A,2, pi," IOOh of syndication proce.d. Line VII.A.3,
plu. 1% of(1ll.lC, LiDe VI.D.. minus ne...lopcr Foe. Line VI.C.Z.e.)i
D. Other Conditions:
;
----------7-::- ---..-. -- .--
----. --.-.....,..L___.._.___.__..._.._..._ _ --L, ___...
-- -------.--
----- --.--
I
.__._-_...~._.._..-
_. '- --..---..--
"3.923
50
S120.6Ci7
MHFA Application Form RFPIHTCl. 5/2000
9
7129/2002 2:58 PM
Jul 29 2002 3:09PM
Peter Andrea Co
952-829-5399
p.?
v. S/ZfJ/2002
E. Cosl Roduotioo or Avoi<J.noelLoc.al DoaaliOl1s
I. RogulBtory Incentive. The following worksheet musl be CO~IClod
for each projecllh.t include. RoSUlalory Incentives which reduce the 0051
ofproducmg affordable housing, T'hesc CaJRaori.es arc not all iDc)ulli...c. PleaJc
add uoy additionalmccntiv,= in tbe: opeD spaces provided.
Electronic Application
v.2.S
loantivr
Cost Savina-< Per
U'
Total COSI
filt Savmgs
DeDiity BoDUSC.s
Reduced Setbacks
Reduced Parl<lng RequinmelllS
Ooco..ed Road Width.
Flcx.ibil.il:y in Site DcvelopTIlI:Dt SlBDdllll"d.s
FIClLihilily lo ZooWg Ced.: RequirCD1l:Dts
WAC /I: SAC Red...ti"".
FILSI Trao!:: Pmnillme & ADOruvol. ,
10lloVlOt;ye lluildUlg T~I'I_
hllloVJtivc 'Bundial\JlQa1l:iial~
2, Vslue of donation. t!ull do not appeara. a fiIIldlllg 'lJIIRc. Sourc.s must be hlted
below fo, incw.ion iD HTC .coring for Promoa.. [k""lopmeDt Cost RedUOtiOD.
IDCJw1es land l1o.DJ.tiOll.iD-1:ind c:oatrihuliODs and dnnll1:ions crla')ar, material" &erviclIS. etc.
S lJWl:C
C""tut
Typo
Value of
DonuicD
1~)'i[~'~..~b~~TJ\*E.~€X~N<'~~'I"", '.
,;('"
'" ..;.';."'!
',,'.' ,"h F;~';..
;' '" ~:;>;\),<~.;" . . - in: '.
The M ifUJCI0tll HWTlI.O Right, Act statel thai my penon or organizalion having 40 01 more employee' in the lloSt J 2 momhi in the Stile
of MiMcsola and involved in any 1r.IIl..o,ion of SIOO,OOO or more with SIal. .ge..cy mu.t laY< AIfinn.tiv. Actl<JII Pia approved by rh.
St:llc DcplllUncnt of Hwnr.t.D Ri&Jlll. TIl.c:rcfan:. DO ilppJit.:.DOIU flJl' S 100.000 or more wW be I.ccepted unlr:,iS they include either:
A,
A Qrtilicate of Compliance from Ibe S.a'e Ocpartmcnl ofHumau Rigllll (For infurmatioD 0.11 6~ 1-296-5663)
(ror olganUlIions with 40 or am", emplo)ll:.'):"
B,
A DOlarized SLalCm:Dlstating thaI the applying organization has bad Lo.. thllll ~o employtci In 1U Stale
of MiMosa.. ill the Ia,t 12 month.,
C.
P.ovide infonnalioD OD how you iM:DC1 IlllD8a opportunetl.. availabl. fur worncu-owned or mioority-
o\yntd bosme.. t:n.tm"J:-"UeI.
Thi.< .pplication is ,ubmined by Ibe onderslgned with !be fulllmllWl.ugc....d conam! o!thc &"""ruing body llDd I..ocunt.e in.1I dc..i1s,lD
lbe UlIdrrsigncd's best knowltdgt,
Signalure
Dale
The Minnesola Hou.ing Finance A~acy dati! DOt discriminAte un lhe bali. of Tace, color, Dltional OI'llin. .e~ religioD, age, 0' disability
In. Dmplo)'rl1erlt or the prDvilion of sClViiiCl.
CDnnncntll
I
Equal Opporlunity }lOUIldC and Equal Opporlunlty E"'Ploymenl
IF REQUESTING TAX CREDITS
CONTINUE ON TO PAGE 1 J.
,-iii'rrirl,i.lli.
STOP AT THIS POINT IF YOU
ARE NOT REQUESTING TAX CREDlTS, AND
CONTINUE ON TO NARRATIVE SECTION.
: . '-: -~" ",
',' :~~~I:identi,c;alto;lheori(linOl'
.Ji6imr~ij,)-"""",,,,;
MHFA App:lca1ion Form RFP/HTCl 5/2000
10
7/29/2DD2 2:58 PM
------ ~...
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