Professional Documents
Culture Documents
9% Competitive Credits
Applications Must Be Received At VHDA No Later Than 2:00
PM Richmond, VA Time On March 12, 2010
31.09
Low Income Housing Tax Credit Application for Reservation
Please indicate if the following items are included with your application by checking the appropriate boxes. Your assistance in
organizing the submission in the following order, and actually using tabs to mark them as shown, will facilitate review of your
application. Please note that all mandatory items must be included for the application to be processed. The inclusion of other items
may increase the number of points for which you are eligible under VHDA's point system of ranking applications, and may assist
VHDA in its determination of the appropriate amount of credits that it may reserve for the development.
3. If complete address is not available, provide longitude and latitude coordinates (x,y) from
location on site your surveyor deems appropriate.
Documentation from surveyor attached (TAB A) (Only necessary if street address or street intersections are not available.
(Coordinates should be the same as those listed on pg 13, if applicable)
4. The Circuit Court Clerk's office in which the deed to the property is or will be recorded:
City/County of Fairfax City (ie; Richmond City, Chesterfield County; see application manual)
5. Does the site overlap one or more jurisdictional boundaries? Yes No
If yes, what other City/County is the site located in besides the one mentioned above?
6. Census Tract the development is located in: 3004
Is this a Qualified Census Tract: Yes No (If yes, attach required form in TAB A)
7. Is the development located in a Difficult Development Area? No
8. Is the development located in a revitalization area? Yes No (If yes, attach required form in TAB A)
9. Is the development an existing RD or HUD S8/236 development? Yes No (If yes, attach required form in TAB Q)
Note to #9: If there is an identity of interest between the applicant and the seller in this proposal, and the applicant is seeking points in
this category, then the applicant must either waive their rights to the developer's fee or other fees associated with acquisition and/or
rehabilitation or obtain a waiver of this requirement from VHDA prior to application submission to receive these points
rehabilitation, points.
a. Applicant agrees to waive all rights to any developer's fee or
other fees associated with acquisition and/or rehab. Yes n/a
b. Applicant has obtained a waiver of this requirement from VHDA
prior to the application submission deadline. Yes n/a
10. Is the development located in a census tract with a poverty
rate <10% with no tax credit units currently present? Yes No
11. Is the development listed on the RD 515 Rehabilitation Priority List? Yes No
12. Is the proposed development located in an urban development area as defined in §15.2-2223.1of the Code of Virginia?
Yes No (If yes, attach required form in TAB U)
13. Will the proposed development participate in a locally adopted affordable housing dwelling unit program area as described in
either §15.2-2304 or §15.2-2305 of the Code of Virginia? Yes No (If yes, attach required form in TAB U)
B. Project Description:
In the space provided below, give a brief description of the proposed project.
Suburbia Fairfax is a garden‐style apartment complex in Fairfax, VA consisting of 54 one‐ and two‐bedroom apartments. To avoid seeing another
affordable housing property converted into market‐rate housing, CPDC formed a subsidiary nonprofit to acquire the property in 1996 under the Low‐
income housing Preservation and Resident Homeownership Act (LIHPRHA).
Thirty‐nine total units are set aside for persons with 50 percent area median income or lower, which includes 10 units of project‐based Section 8 rental
assistance. The property contains two buildings with brick exteriors and concrete balconies. Due to superior property management, the property is well‐
maintained but in need of renovation due to its age.
A seasoned nonprofit developer, Community Housing, Inc. is applying for tax credits to renovate the property. Highlights of the scope of work include:
conversion of two 1‐bedroom units into 2‐bedroom units; individually metered utilities; replacement of lighting fixtures and appliances with Energy‐Star
models; replacement of plumbing fixtures with efficient low‐flow fixtures; construction of a free‐standing community space and rental office; and a new
roof.
v12.31.09 Page 1
Low Income Housing Tax Credit Application For Reservation
C. Reservation Request
1. Total annual credit amount request (Must be the same as Part IX-D8) $317,960
Check credit amount, p
2. Credits requested from:
9% Credits
Nonprofit Set-Aside (All nonprofit owned developments which meet tests
described in Part II-D hereof may select this)
Local Housing Authorities Richmond MSA Pool
Planning District 8 (Inner Washington MSA) Pool Tidewater MSA Pool
Northwest / North Central VA Area Pool Balance of State Pool (Remaining Geographi
Non-Competitive Pool (Preservation) Non-Competitive Pool (Disability)
Federal Subsidies
The development will not receive federal subsidies.
some buildings.
1. Regular Allocation
All of the buildings in the development are expected to be placed
in service this year. For those buildings the owner will, this year, request an
allocation of 2008 credits for new construction, or
rehabilitation, or
acquisition and rehabilitation.
2. Carryforward Allocation
All of the buildings in the development are expected to be placed
in service within two years after the end of this calendar year, 2009, but the
owner will have more than 10% basis in the development before the end of six
months following allocation of credits. For those buildings, the owner requests
a carryforward allocation of 2009 credits pursuant to Section 42(h)(1)(E) for:
new construction, or
rehabilitation, or
acquisition and rehabilitation (even if you acquired a building this year and
"placed it in service" for the purpose of the acquisition credit, you cannot receive
the 8609 form for it until the rehab 8609 is issued for that building once the rehab
work is "placed in service" in 2010 or 2011).
3. Federal Subsidies
The development will not receive federal subsidies.
This development will receive federal subsidies for:
all buildings or
some buildings.
v12.31.09 Page 2
Low-Income Housing Tax Credit Application For Reservation
The 10-year rule in IRC Section 42 (d)(2)(B) for all buildings does not apply pursuant to IRC Section 42(d)(6).
Different circumstances for different buildings: Attach a separate sheet and explain for each building.
NOTE: If no credits are being requested for rehabilitation expenditures, so indicate and go
on to Section II. No Rehabilitation
Proposed development is designed to serve as a replacement for housing being demolished through
redevelopment. Documentation Attached (TAB U)
Proposed development is housing that is an integral part of a neighborhood revitalization project sponsored by
a local housing authority. Documentation Attached (TAB U)
v12.31.09 Page 3
Low-Income Housing Tax Credit Application For Reservation
NOTE: VHDA may allocate credits only to the tax-paying entity which owns the development at the time of the allocation. The term "Owner" herein refers to that entity. Please fill
in the legal name of the owner. The ownership entity must be formed prior to submitting this application. Any transfer, direct or indirect, of partnership interests (except those
involving the admission of limited partners) prior to the placed-in-service date of the proposed development shall be prohibited, unless the transfer is consented to by VHDA in its
sole discretion. IMPORTANT: The Owner name listed on this page must match exactly the owner name listed on the Virginia State Corporation Commission
A. Owner Information:
Name Suburbia Fairfax Development LLC
Contact Person First: Paul Middle: P. Last: Browne
Address 5513 Connecticut Ave NW, Suite 250
(Street)
Washington DC 20015
(City) (State) (Zip Code)
Principal(s) involved (e.g. general partners, LLC members, controlling shareholders, etc.):
Names ** Phone Type Ownership % Ownership
CPDC Suburbia Fairfax LLC 202-895-8900 Managing
g g Member 0.01%
Community Housing, Inc. 202-895-8900 Interim Member 99.99%
J. Michael Pitchford, President & CEO 202-895-8900 n/a 0.00%
Paul P. Browne, Vice President 202-895-8900 n/a 0.00%
0.00%
0.00%
0.00%
This should be 100% of the GP or managing member interest: 100.00%
** These should be the names of individuals who comprise the GP or managing members, not simply the names of
separate partnerships or corporations which may comprise those components.
B. Seller Information:
Name Suburbia Fairfax Preservation Corporation Contact Person
J. Michael Pitchford
Address 5513 Connecticut Ave NW, Suite 250
Washington, DC 20015 Phone 202-895-8900
v12.31.09 Page 4
Low-Income Housing Tax Credit Application For Reservation
v12.31.09 Page 5
Low-Income Housing Tax Credit Application For Reservation
D. Nonprofit Involvement:
Applications For 9% Credits - Must be completed in order to compete in the nonprofit tax credit pool.
All Applicants - Must be completed for points for nonprofit involvement under the ranking system.
Tax Credit Nonprofit Pool Applicants: To qualify for the nonprofit pool, an organization described in IRC Section 501
(c)(3) or 501 (c)(4) and exempt from taxation under IRC Section 501 (a), whose purposes include the fostering of low-income housing:
1. Must "materially participate" in the development and operation of the project throughout the compliance period,
2. Must own all general partnership interests in the development .
3. Must not be affiliated with or controlled by a for-profit organization.
4. Must not have been formed for the principal purpose of competition in the nonprofit pool, and
5. Must not have any staff member, or member of the nonprofit's board of directors materially participate in the proposed project
as a for-profit entity.
All Applicants: To qualify for points under the ranking system, the nonprofit's involvement need not necessarily
satisfy all of the requirements for participation in the nonprofit tax credit pool.
3. Type of involvement
Nonprofit meets eligibility requirement for points only, not pool or
Nonprofit meets eligibility requirements for nonprofit pool and points.
v12.31.09 Page 6
Low-Income Housing Tax Credit Application For Reservation
B. Building Systems:
Please describe each of the following in the space provided.
Community Facilities: 1,500 sf community space (proposed), tot lot
v12.31.09 Page 7
Low-Income Housing Tax Credit Application For Reservation
C. Amenities:
1. Specify the average size per unit type: (Including pro rata share of heated common area)
Assisted Lvg 0.00 SF 1Bdrm Eld 0.00 SF 3-Bdrm Gar 0.00 SF
1-Sty-Eff-Eld 0.00 SF 2Bdrm Eld 0.00 SF 4-Bdrm Gar 0.00 SF
1-Sty 1BR-Eld 0.00 SF Eff-Gar 0.00 SF 2+Sty 2BR TH 0.00 SF
1-Sty 2BR-Eld 0.00 SF 1-Bdrm Gar 708.52 SF 2+Sty 3BR TH 0.00 SF
Eff-Eld 0.00 SF 2-Bdrm Gar 909.70 SF 2+Sty 4BR TH 0.00 SF
2. Total gross usable, heated square feet for the entire project less nonresidential commercial area:
47,111.82 Documentation attached (TAB F) Mandatory
(Sq. ft.)
NOTE: All developments must meet VHDA's Minimum Design and Construction Requirements.
By signing and submitting the Application For Reservation of Low Income Housing Tax Credits the
applicant certifies that the proposed project budget, plans & specifications and work write-ups incorporate
all necessary elements to fulfill these requirements.
k. Every unit in the development will be heated and cooled with a geothermal heat pump that meets
EPA Energy Star qualified program requirements.
l. The development will have a solar electric system that will remain unshaded year round, be oriented
to within 15 degrees of true south, and be angled horizontally within 15 degrees of latitude.
v12.31.09 Page 8
Low Income Housing Tax Credit Application For Reservation
For all projects exclusively serving elderly and/or handicapped tenants, upon completion
of construction/rehabilitation: (Optional Point items)
For all rehabilitation and adaptive reuse projects, upon completion of construction or
or rehabilitation: (Optional Point items)
Accessibility
For any non-elderly property in which the greater of 5 or 10% of the units will be subject to federal project-based rent
subsidies or equivalent assistance in order to ensure occupancy by extremely low-income persons; and (ii) the greater of 5
units or 10% of the units will conform to HUD regulations interpreting accessibility requirements of section 504 of the
Rehabilitation Act; and be actively marketed to people with special needs in accordance with a plan submitted as part of the
Application (All of the units described in (ii) above must include roll-in
Application. roll in showers and roll under sinks and front controls for
ranges, unless agree to by the Authority prior to the applicant's submission of its application).
For any non-elderly property in which the greater of 5 or 10% of the units (i) have rents within HUD’s Housing Choice
Voucher (“HCV”) payment standard; (ii) conform to HUD regulations interpreting accessibility requirements of section 504 of
the Rehabilitation Act; and (iii) are actively marketed to people with mobility impairments, including HCV holders, in
accordance with a plan submitted as part the Application.
For any non-elderly property in which at least four percent (4%) of the units conform to HUD regulations interpreting
accessibility requirements of section 504 of the Rehabilitation Act and are actively marketed to people with mobility
impairments in accordance with a plan submitted as part of the Application.
Yes No N/A The market-rate units' amenities are substantially equivalent to those of the
low-income units. If no, explain differences:
v12.31.09 Page 9
Low-Income Housing Tax Credit Application For Reservation
1. If 100% of the low-income units will be occupied by either or both of the following special needs
groups as defined by the United States Fair Housing Act, so indicate:
Yes Elderly (age 55 or above)
Yes Physically or mentally disabled persons (must meet the requirements of the federal
Americans with Disabilities Act)
2. Specify the number of low-income units that will serve individuals and families with children by
providing three or more bedrooms: 0 Number of units 0% of total low-income units
3. If the development has existing tenants, VHDA policy requires that the impact of economic and/or physical
displacement on those tenants be minimized, in which Owners agree to abide by the Authority's Relocation
Guidelines for LIHTC properties.
4. If leasing preference will be given to applicants on public housing waiting list and/or Section 8
waiting list, so indicate:
Yes
No
Locality has no such waiting list; If yes, provide the following information:
Organization which holds such waiting list: Fairfax County Redevelopment and Housing Authority
Contact person (Name and Title) Carol Erhard, Director, Housing Choice Voucher Program
Phone Number 703-246-5217 Required documentation attached (TAB H)
v12.31.09 Page 10
Low-Income Housing Tax Credit Application For Reservation
Note: Please refer to the Application Manual for specific instructions and deadlines for pertaining to locality
notification of proposed Low income Housing Tax Credit developments.
A. Provide the name and the address of the chief executive officer (City Manager, Town Manager, or
County Administrator) of the political jurisdiction in which the development will be located:
Chief Executive Officer's Name Bob Sisson
Chief Executive Officer's Title City Manager
Street Address 10455 Armstrong St, Room 316 Phone 703-385-7850
City Fairfax State VA Zip 22030
Name and title of local official you have discussed this project with who could answer questions for the
local CEO: Jason Sutphin, Planner
Name and title of local official you have discussed this project with who could answer questions for the
local CEO:
B. Project Schedule
ACTUAL OR NAME OF
ACTIVITY ANTICIPATED PERSON
DATE RESPONSIBLE
Site
Option/Contract March 1, 2010 Paul Browne
Site Acquisition November 1, 2010 Paul Browne
Zoning Approval N/A N/A
Site Plan Approval N/A N/A
Financing
A. Construction Loan
Loan Application August 1, 2010 Paul Browne
Conditional Commitment September 15, 2010 Paul Browne
Firm Commitment October 15, 2010 Paul Browne
B. Permanent Loan - First Lien
Loan Application August 1, 2010 Paul Browne
Conditional Commitment September 15, 2010 Paul Browne
Firm Commitment October 15, 2010 Paul Browne
C. Permanent Loan-Second Lien
Loan Application N/A N/A
Conditional Commitment N/A N/A
Firm Commitment N/A N/A
D. Other Loans & Grants
Type & Source, List
Application N/A N/A
Award/Commitment N/A N/A
Formation of Owner February 15, 2010 Paul Browne
IRS Approval of Nonprofit Status - -
Closing and Transfer of Property to Owner November 1, 2010 Paul Browne
Plans and Specifications, Working Drawings September 1, 2010 Paul Browne
Building Permit Issued by Local Government October 15, 2010 Paul Browne
Start Construction November 15, 2010 Paul Browne
Begin Lease-up November 15, 2010 Paul Browne
Complete Construction December 31, 2011 Paul Browne
Complete Lease-Up March 1, 2012 Paul Browne
Credit Placed in Service Date March 1, 2012 Paul Browne
v12.31.09 Page 11
Low-Income Housing Tax Credit Application For Reservation
Note: Site control by the Owner identified herein is a mandatory precondition of review of this application. Documentary
evidence of it, in the form of either a deed, option, purchase contract, or lease for a term longer than the period of time the
property will be subject to occupancy restrictions must be included herewith. (9% Competitive Credits - An option or
contract must extend beyond the application deadline by a minimum of four months.)
Warning: Site control by an entity other than the Owner, even if it is a closely related party, is not sufficient. Anticipated
future transfers to the Owner are not sufficient. The Owner, as identified in Subpart II-A, must have site control at the
time this Application is submitted.
NOTE: If the Owner receives a reservation of credits, the property must be titled in the name of or leased by (pursuant to a
long-term lease) the Owner before the allocation of credits is made this year.
Contact us before you submit this application if you have any questions about this requirement.
Applicant controls site by (select one and attach document - Mandatory TAB K)
Deed - attached
Long-term Lease - attached (expiration date: )
Option - attached (expiration date: )
Purchase Contract - attached (expiration date: 12/19/10 )
If more than one site for the development and more than one form of site control, please so indicate
and attach a separate sheet specifying each site, number of existing buildings on the site, if any,
type of control of each site, and applicable expiration date of form of site control. A site control
document is required for each site.
Owner is to acquire property by deed (or lease for period no shorter than period property
will be subject to occupancy restrictions) no later than 12/18/10
If more than one site for the development and more than one expected date of acquisition by
Owner, please so indicate and attach separate sheet specifying each site, number of existing
buildings on the site, if any, and expected date of acquisition of each site by the Owner.
Obtain the following information from the Market Study conducted in connection with this tax credit application and enter below:
v12.31.09 Page 12
Low-Income Housing Tax Credit Application For Reservation
C. Site Description
4. Will the proposal seek to qualify for points associated with proximity to public transportation?
Yes No
Required documentation form attached (TAB A)
Minimum submission requirements for all properties (new construction, rehabilitation and adaptive reuse)
v12.31.09 Page 13
Low-Income Housing Tax Credit Application For Reservation
A. Rental Assistance
1. Do or will any low-income units receive rental assistance?
Yes No
2. If yes, indicate type of rental assistance:
B. Utilities
1. Monthly Utility Allowance Calculations
v12.31.09 Page 14
Low-Income Housing Tax Credit Application For Reservation
C. Revenue
1. Indicate the estimated monthly income for the Low-Income Units: **
Total Number of Total Monthly
Unit Type Tax Credit Units Rental Income
Efficiency Units 0 $0
1 Bedroom Units 7 $5,750
2 Bedroom Units 32 $29,750
3 Bedroom Units 0 $0
4 Bedroom Units 0 $0
Total Number of Tax Credit Units 39
** Beginning at Row 75 enter the appropriate data for both tax credit and market rate units in the yellow shaded cells.
2. Indicate the estimated monthly income for the Market Rate Units: **
Total Number of Total Monthly
Unit Type Market Units Rental Income
Efficiency Units 0 $0
1 Bedroom Units 3 $2,400
2 Bedroom Units 12 $11,100
3 Bedroom Units 0 $0
4 Bedroom Units 0 $0
Total Number of Market Units 15
1 STY-EFF-ELD 1 STY-1 BR-ELD 1 STY-2 BR-ELD Note: Please be sure to enter the number of units in the
0 0 0 appropriate unit category. If not, you will find an error on
the scoresheet at 5a, 6a & 6b.
List number of units by type: TAX CREDIT UNITS
ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR
0 0 0 0 0 7
Efficiency Units
Unit Type / Net Rentable Monthly Rent Total
Rent Targeting Number Units Square Feet Per Unit Monthly Rent
1-Bedroom Units
Net Rentable Monthly Rent Total
Rent Targeting Number Units Square Feet Per Unit Monthly Rent
1 BR - 40% 0 0.00 $ - $ -
v12.31.09 Page 15
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
Total 1-BR Total Monthly 1-BR
Tax Credit Units: 7 4,318.51 Tax Credit Rent: $ 5,750
v12.31.09 Page 15
2-Bedroom Units
Net Rentable Monthly Rent Total
Rent Targeting Number Units Square Feet Per Unit Monthly Rent
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
Total 2-BR Total Monthly 2-BR
Tax Credit Units: 32 25,767.77 Tax Credit Rent: $ 29,750
3-Bedroom Units
Net Rentable Monthly Rent Total
Rent Targeting Number Units Square Feet Per Unit Monthly Rent
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
Total 3-BR Total Monthly 3-BR
Tax Credit Units: 0 0.00 Tax Credit Rent: $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
v12.31.09 Page 15
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
Total 3-BR
Market Units: 0 0.00 Total Monthly
3-BR Market Rent: $ -
4-Bedroom Units
Net Rentable Monthly Rent Total
Rent Targeting Number Units Square Feet Per Unit Monthly Rent
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 50% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
Total 4-BR Total Monthly 4-BR
Tax Credit Units: 0 0.00 Tax Credit Rent: $ -
v12.31.09 Page 15
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
Total 4-BR
Market Units: 0 0.00 Total Monthly
4-BR Market Rent: $ -
v12.31.09 Page 15
Low-Income Housing Tax Credit Application For Reservation
D. Operating Expenses
Administrative:
1. Advertising/Marketing -
2. Office Salaries $10,210
3. Office Supplies $900
4. Office/Model Apartment (type______) $7,212
5. Management Fee $33,767
6.07% of EGI 625.3148148 Per Unit
6. Manager Salaries -
7. Staff Unit (s) (type______) $7,212
8. Legal $2,400
9. Auditing $9,850
10. Bookkeeping/Accounting Fees $5,784
11. Telephone & Answering Service $1,260
12. Tax Credit Monitoring Fee
13. Miscellaneous Administrative $4,876
Total Administrative $83,471
Utilities
14. Fuel Oil -
15. Electricity $9,000
16. Water $17,206
17. Gas $8,100
18. Sewer -
Total Utility $34,306
Operating:
19. Janitor/Cleaning Payroll $24,198
20. Janitor/Cleaning Supplies $3,216
21. Janitor/Cleaning Contract
22. Exterminating $1,702
23. Trash Removal $4,020
24. Security Payroll/Contract -
25. Grounds Payroll -
26. Grounds Supplies $3,225
27. Grounds Contract -
28. Maintenance/Repairs Payroll $35,094
29. Repairs/Material $7,140
30. Repairs Contract $4,200
31. Elevator Maintenance/Contract -
32. Heating/Cooling Repairs & Maintenance $1,200
33. Pool Maintenance/Contract/Staff -
34. Snow Removal $760
35. Decorating/Payroll/Contract -
36. Decorating Supplies $4,140
37. Miscellaneous
Operating & Maintenance Totals $88,895
Taxes & Insurance
38. Real Estate Taxes $50,000
39. Payroll Taxes $5,748
40. Miscellaneous Taxes/Licenses/Permits $1,475
41. Property & Liability Insurance $15,000
42. Fidelity Bond -
43. Workman's Compensation $2,460
44. Health Insurance & Employee Benefits $12,876
45. Other Insurance
Total Taxes & Insurance $87,559
6544
Total Operating Expense $294,231
D1. Total Oper. Ex. Per Unit $5,449 D2. Total Oper. Ex. As % EGI (from E3) 52.91%
Replacement Reserves (Total # Units X $300 or $250 New Const. Elderly Minimum) $21,600
v12.31.09 Page 16
Low-Income Housing Tax Credit Application For Reservation
Stabilized
Year 1 Year 2 Year 3 Year 4 Year 5
Eff. Gross Income 556,140 567,263 578,608 590,180 601,984
Less Oper. Expenses 315,831 325,306 335,065 345,117 355,471
Net Income 240,309 241,957 243,543 245,063 246,513
Less Debt Service 208,479 208,479 208,479 208,479 208,479
Cash Flow 31,830 33,478 35,064 36,584 38,034
Debt Coverage Ratio 1.15 1.16 1.17 1.18 1.18
v12.31.09 Page 17
Low-Income Housing Tax Credit Application For Reservation
NOTE: Attorney must opine, among other things, as to correctness of the inclusion of each cost item in eligible
basis, type of credit and numerical calculations of this Part VIII.
A. Off-Site Improvements 0 0 0 0
B. Site Work 0 0 0 0
C. Geothermal System 0 0 0 0
D. Unit Structures (New) 0 0 0 0
E. Unit Structures (Rehab) 2,332,021 0 0 2,301,652
F.
F Solar
S l Electric
El i System
S 0 0
G. Asbestos Removal 0 0 0 0
H. Demolition 0 0 0 0
I. Commercial Space Costs 0 0 0 0
J. Structured Parking Garage 0 0 0 0
K. Subtotal A: (Sum 1A..1J) 2,332,021 0 0 2,301,652
L. General Requirements 150,309 0 0 150,309
M. Builder's Overhead 50,288 0 0 50,288
( 2.2% Contract)
N. Builder's Profit 125,719 0 0 125,719
( 5.4% Contract)
O. Bonding Fee 32,045 0 0 32,045
P. Other 0 0
Q. Contractor Cost
Subtotal (Sum 1K..1P) $2,690,382 $0 $0 $2,660,013
2. Owner Costs
A. Building Permit 25,000 0 0 25,000
B. Arch./Engin. Design Fee 107,615 0 0 107,615
( 1,993 /Unit)
C. Arch. Supervision Fee 53,808 0 0 53,808
( 996 /Unit)
D. Tap Fees 0 0 0 0
E. Soil Borings 0 0 0 0
v12.31.09 Page 18
Low-Income Housing Tax Credit Application For Reservation
If this application seeks rehab credits only, in which there is no acquisition and no change in ownership, enter the greater of
appraised value or tax assessment value here: $0 Land
(Attach documentation at Tab K) $0 Building
12.31.09 Page 19
Low-Income Housing Tax Credit Application For Reservation
v12.31.09 Page 20
Low-Income Housing Tax Credit Application For Reservation
B. Sources of Funds
1. Construction Financing: List individually the sources of construction financing, including any such
loans financed through grant sources:
2. Permanent Financing: List individually the sources of all permanent financing in order of lien position:
v12.31.09 Page 21
Low-Income Housing Tax Credit Application For Reservation
5. Net amount which will be used to pay for Total Development Cost (4a-4e)
as listed in Part VIII-A5 (same amount as Part IX-D3) $2,568,860
v12.31.09 Page 22
Low-Income Housing Tax Credit Application For Reservation
1. Are any portions of the sources of funds described above for the development financed directly or indirectly
with Federal, State, or Local Government Funds? Yes No
If yes, then check the type and list the amount of money involved.
Grants Grants
CDBG $0 State $0
UDAG $0 Local $0
Other: Renewable Ener $60,739
This means grants to the partnership. If you received a loan financed by a locality which received one of the
listed grants, please list it in the appropriate loan column as "other" and describe the applicable grant program
which funded it.
2. Subsidized Funding: list all sources of funding for points. Documentation Attached (TAB T)
v12.31.09 Page 23
Low-Income Housing Tax Credit Application For Reservation
NOTE: Each recipient of an allocation of credits will be required to record an extended use agreement as
required by the IRC governing the use of the development for low-income housing for at least 30 years.
However, the IRC provides that, in certain circumstances, such extended use period may be terminated early.
This development will be subject to the standard extended use agreement which permits early
termination (after the mandatory 15-year compliance period) of the extended use period.
This development will be subject to an extended use agreement in which the owner's right to any
early termination of the extended use provision is waived for 25 additional years after the 15-
year compliance period for a total of 40 years. Do not select if IX.B is checked below.
This development will be subject to an extended use agreement in which the owner's right to any
early termination of the extended use provision is waived for 35 additional years after the 15-
year compliance period for a total of 50 years. Do not select if IX.B is checked below.
1. After the mandatory 15-year compliance period, a qualified nonprofit as identified in the
attached nonprofit questionnaire, or local housing authority will have the option to purchase
h right
or the i h off first
fi refusal
f l to acquire
i theh development
d l f a price
for i not to exceedd the
h outstanding
di
debt and exit taxes. Such debt must be limited to the original mortgage(s) unless any refinancing
is approved by the nonprofit. Do not select if extended compliance is selected in IX.A above.
Option or Right of First Refusal in Recordable Form Attached (TAB V)
Enter name of qualified nonprofit: Community Housing, Inc.
v12.31.09 Page 24
Low-Income Housing Tax Credit Application For Reservation
$22,271 $0 $295,689
Qualified Basis Totals (must agree with VIII-A10)
v12.31.09 Page 25
Low-Income Housing Tax Credit Application For Reservation
$0 $0 $0
Qualified Basis Totals (must agree with VIII-A10)
$0 $0 $0
Qualified Basis Totals (must agree with VIII-A10)
$0 $0 $0
Qualified Basis Totals (must agree with VIII-A10)
$0 $0 $0
Qualified Basis Totals (must agree with VIII-A10)
$0 $0 $0
Qualified Basis Totals (must agree with VIII-A10)
F. Statement of Owner
1. that, to the best of its knowledge and belief, all factual information provided herein or in connection
herewith is true and correct, and all estimates are reasonable.
2. that it will at all times indemnify and hold harmless VHDA and its assigns against all losses, costs,
damages, VHDA's expenses, and liabilities of any nature directly or indirectly resulting from, arising out of,
or relating to VHDA's acceptance, consideration, approval, or disapproval of this reservation request and
the issuance or nonissuance of an allocation of credits, grants and/or loan funds in connection herewith.
3. that points will be assigned only for representations made herein for which satisfactory documentation is
submitted herewith and that no revised representations may be made in connection with this application
once the deadline for applications has passed.
4. that this application form, provided by VHDA to applicants for tax credits, including all sections herein
relative to basis, credit calculations, and determination of the amount of the credit necessary to make the
development financially feasible, is provided only for the convenience of VHDA in reviewing reservation
requests; that completion hereof in no way guarantees eligibility for the credits or ensures that the amount
of credits applied for has been computed in accordance with IRC requirements; and that any notations
herein describing IRC requirements are offered only as general guides and not as legal authority.
5. that the undersigned is responsible for ensuring that the proposed development will be comprised of
qualified low-income buildings and that it will in all respects satisfy all applicable requirements of federal
tax law and any other requirements imposed upon it by VHDA prior to allocation, should one be issued.
6. that, for the purposes of reviewing this application, VHDA is entitled to rely upon representations of the
undersigned as to the inclusion of costs in eligible basis and as to all of the figures and calculations relative
to the determination of qualified basis for the development as a whole and/or each building therein
individually as well as the amounts and types of credit applicable thereof, but that the issuance of a
reservation based on such representation in no way warrants their correctness or compliance with IRC
requirements.
7. that VHDA may request or require changes in the information submitted herewith, may substitute its own
figures which it deems reasonable for any or all figures provided herein by the undersigned and may reserve
credits, if any, in an amount significantly different from the amount requested.
8. that reservations of credits are not transferable without prior written approval by VHDA at its sole
discretion.
v12.31.09 Page 27
Low-Income Housing Tax Credit Application For Reservation
The following calculation of the amount of credits needed is substantially the same as the calculation which will be made by
VHDA to determine, as required by the IRC, the amount of credits which may be allocated for the development. However, VHDA
at all times retains the right to substitute such information and assumptions as are determined by VHDA to be reasonable for the
information and assumptions provided herein as to costs (including development fees, profits, etc.), sources for funding,
expected equity, etc. Accordingly, if the development is selected by VHDA for a reservation of credits, the amount of such
reservation may differ significantly from the amount you compute below.
6. Equals Annual Tax Credit Required to Fund the Equity Gap $317,960
v12.31.09 Page 26
TAB A
(Documentation of Development Location)
TAB A.1
(Qualified Census Tract Certification)
Tab Not Applicable
TAB A.2
(Revitalization Area Certification)
Tab Not Applicable
TAB A.2
(Surveyor’s Certification of Proximity To Public Transportation)
Tab Not Applicable
TAB A.2
(Location Map)
Suburbia Fairfax Apartments
Location Map
TAB B
(Partnership or Operating Agreement)
Suburbia Fairfax Apartments
g
Organizational Chart
J. Michael Pitchford
President & C.E.O.
Initial Member
Sole Member (99.99% interest)
Reportable Condition Community Housing, Inc. (“CHI”) is the 100% owner of CPDC
Mayfair Mansions, Inc. (“CPDC-MM”) which is a minority member of Mayfair
Mansions Condo LLC (the “Condo LLC”). The managing and majority member of the
Condo LLC is MHCDO Mayfair Mansions, Inc., which is a subsidiary of Marshall
Heights Community Development Organization, Inc. (“MHCDO”), a District of
Columbia not-for-profit corporation.
The Condo LLC has received notice of default from the District of Columbia for failing
to pay its mortgage loan according to its terms. The Condo LLC is attempting to
negotiate a resolution of the matter with the lender.
Background Mayfair Mansions was a 570-unit multifamily rental housing project in the
District of Columbia. MHCDO and CHI undertook to re-develop the property as a
mixed-tenure project consisting of a 410-unit tax credit rental phase, which would be led
by CHI, and 160-unit affordable condominium conversion project, which would be led by
MHCDO. Thus, CHI controls the managing member of the general partner of the tax-
credit ownership entity and MHCDO controls the managing member of the Condo LLC.
CHI successfully completed the acquisition, renovation and lease-up of the tax-credit
rental project. MHCDO was not able to locate enough qualified buyers to obtain
construction financing for the condominium project and has stopped working on the
project, resulting in the notice of default from the District.
Under the terms of the operating agreement for the Condo LLC, MHCDO had (and
continues to have) primary responsibility for executing the condominium project. While
CHI has the right to consent to certain important decisions, it does not have the power
either to force MHCDO to take any action or to replace MHCDO as managing member.
Background: The completion of the cost certification has been delayed by the late
submission of the general contractor’s cost certification and by the failure of the former
management company to maintain accurate records of relocation costs. The owner is not
in violation of any regulation or policy of DCHFA or DC DHCD with respect to the
submission of the cost certification. The delay has not interfered, and is not expected to
interfere, with the delivery of tax credits to the investors.
Reportable Condition: CHI is the managing member of the owner of Parkside Terrace
Development LLC, which is the owner of the Overlook at Oxon Run apartments in
Washington, DC. Construction of the apartments has been complete for more than 90
days but the final tax credit cost certification has not been submitted to the DC Housing
Finance Agency or the DC Department of Housing and Community Development.
Background: The completion of the cost certification has been delayed by the late
submission of the general contractor’s cost certification. The owner is not in violation of
any regulation or policy of DCHFA or DC DHCD with respect to the submission of the
cost certification. The delay has not interfered, and is not expected to interfere, with the
delivery of tax credits to the investors.
TAB E
(Nonprofit Questionnaire)
TAB F
(Architect’s Certification)
Universal Design Certificate Holder Listing
(This is a list of attendees only as of 1/28/10 and includes persons who are not registered Architects.)
Renovating Contractor - By accepting the EarthCraft Multifamily certification, I pledge that this project has been remodeled to
the standards listed on this Worksheet.
Property Owner - I have reviewed the EarthCraft Multifamily measures with the renovating contractor.
VA 4.2009 Page 1
POINTS SCORE DOCUMENTATION
1- HIGH PERFORMANCE BUILDING ENVELOPE AND SYSTEMS
1 REQUIRED: All projects must meet an Infiltration threshold of .60 ACH to be eligible for certification
2 REQUIRED: All exposed envelope penetrations or gaps must be air sealed
1A- AIR TIGHTNESS (must meet threshold of .60 ACH)
1 reduce air infiltration in units by 30% below threshold 10 10 blower door test
2 reduce air infiltration in units by 40% below threshold 20 blower door test
3 reduce air infiltration in units by 50% below threshold 30 blower door test
AIR TIGHTNESS SUBTOTAL 10
1B- IMPROVEMENTS TO EXISTING WINDOWS
1 replace single-paned windows with NFRC low-e double-paned windows (minimum of 75%
12 window label
of windows must be replaced with U=0.40 and SHGC=0.45 or better )
2 replace single-paned windows with NFRC low-e double-paned windows (minimum of 75%
15 15 window label
of windows must be replaced with U=0.35 and SHGC=0.35 or better )
3 install storm windows on single-paned windows 3
4 install low e storm windows 5
5 install solar shade screens on clear glazed windows 5
6 apply window film to clear glazed windows 4
EXISTING WINDOWS SUBTOTAL 15
1C- IMPROVEMENTS TO EXISTING WALLS & NEW INTERIOR WALLS
1 blow insulation into uninsulated walls where wall framing is not exposed (minimum of 75%
15
of uninsulated wall area must be insulated to R-13 or better)
2 air seal and insulate all wall cavities to R-13 or better where wall framing is exposed (air
sealing must include plate penetrations, sheathing seams & penetrations, and the gap 10
between sheathing and plate)
3 air seal and insulated previously uninsulated band joist between floors to R-13 or
better (sometimes band joist is accessible when demolition removes floors, ceilings, or 5
soffits)
4
air seal and insulate previously uninsulated band joist between floors to R-19 or better
8
(sometimes band joist is accessible when demolition removes floors, ceilings or soffits)
5 improve existing roof gutters to discharge water 5 feet away from foundation 3 3
6 install new foundation drain system 5
7 install vapor barrier on floor of crawlspace: 6 MIL minimum, 100% coverage with perimeter,
4
seams and all penetrations sealed
EXISTING FLOORS & FOUNDATIONS SUBTOTAL 3
VA 4.2009 Page 2
POINTS SCORE DOCUMENTATION
1E- IMPROVEMENTS TO EXISTING ATTICS
1 REQUIRED: cap, seal and insulate all chases -
2 for attics with R-15 or less existing insulation: air seal all attic pentrations and insulate to R-
copy of insulation
30 (air sealing must include all plumbing electrical, and HVAC penetrations plus any 10
certificate
chases)
3 for attics with R-15 or less existing insulation: air seal all attic pentrations and insulate to R-
copy of insulation
38 (air sealing must include all plumbing electrical, and HVAC penetrations plus any 14
certificate
chases)
4 for attics with R-15 to R-30 existing insulation: air seal all attic pentrations and insulate to R-
copy of insulation
38 (air sealing must include all plumbing electrical, and HVAC penetrations plus any 8 8
certificate
chases)
5
for attics with R-15 or less existing insulation and seal all attic vents and insulate the copy of insulation
20
roofline of house with spray-applied insulation, turning the attic into semi-conditioned space certificate
6
for attics with R-15 to R-30 existing insulation and seal all attic vents and insulate the copy of insulation
12
roofline of house with spray-applied insulation, turning the attic into semi-conditioned space certificate
VA 4.2009 Page 3
POINTS SCORE DOCUMENTATION
2- VENTILATION
1 REQUIRED: No unvented combustion fireplaces or space heaters are permitted as part of project.
2 REQUIRED: All ducts protected until flooring's completed.
3 install carbon monoxide detectors (one per unit required) 4 4
4 install radon/soil gas vent system 3
5 install low noise (< 2.0 sones) ENERGY STAR bath fans in additions 2 product literature
6 install low noise (< 2.0 sones) ENERGY STAR bath fans in pre-existing unit 2 2 product literature
7 install new automatic tub/shower room fan controls (e.g. timer) 1
8 install new kitchen range hood or downdraft vented to exterior 3
9 install new ceiling fans (minimum of 2 fans/unit) 1
10 install new whole unit fan 2
11 install new controlled house ventilation (<0.35 ACH) 4
12 install new dehumidification system (in addition to condensing coil) 5
13 create new vented storage room 1
14 create water heater combustion closet or install power vented unit 6
15 remove power roof vents 1
16 new filter/air cleaner MERV 8 or greater 2 product literature
17 ducts protected until construction is completed 2 2
18 remove all existing unvented fireplaces and space heaters 3 product literature
19 install rigid metal ductwork for all new bath exhaust fans 1
VENTILATION TOTAL 8
3- WATER - INDOOR
1 REQUIRED: All new fixtures must meet National Energy Policy Act standards for low flow.
2 install water filter (NSF certified) 1 product literature
3 install high efficiency clothes washer (in unit) 2 product label
4 replace all existing showerheads with max 1.75 gal/min showerheads 6 product literature
5 replace all existing showerheads with max 2.25 gal/min showerheads 4 4 product literature
6 replace all existing toilets with max 1.30 gal/flush or dual flush toilets 6 product literature
7 replace all existing toilets with max 1.45 gal/flush toilets 4 4 product literature
8 install hot water demand re-circulation system 2
9 install water heater jacket on water heater 1
10 install water heater pipe insulation on first two feet of pipe 1
11 install solar domestic water heating 8 8
12 install tankless gas water heating system 8
13 install heat pump water heater (De-Superheater) 4
14 install high efficiency water heater (exceed min EF: gas 0.62, electric 0.93) 6 energy guide label
WATER - INDOOR TOTAL 16
4- FIXTURES & FINISHES
1 install ICAT rated recessed integrated ballasts and CFL bulbs 5
2 replace minimum 50% of incandescent interior lights located in high use areas (kitchen,
3
main living areas, foyer,hall, bath) with ENERGY STAR fixtures product literature
3 replace 100% of incandescent interior lights with ENERGY STAR fixtures (including ceiling
6 6
fans and ventilation fans)
4 replace 100% bulbs of incandescent interior lights with compact fluorescent bulbs 2
5 install automatic outdoor lighting controls (motion sensors) 2 2
6 install automatic outdoor lighting controls (integral photocells) 2 2
7 install high efficiency exterior lighting 2 2 product literature
8 install ENERGY STAR dishwasher 1 1 product label
9 install ENERGY STAR refrigerator 5 5 product label
10 reclaimed wood flooring 2 product literature
11 recycled content tiles (min 30% recycled) 2 2 product literature
12 cork or bamboo flooring 1
13 new carpet (min 50% recycled) 2 2 product literature
14 new carpet pad (min 50% recycled) 1 1
15 all new cabinets, shelves, and countertops are urea formaldehyde free 1 1 product literature
16 all new and existing surfaces of particle board sealed 1
17 low VOC paints used (less than 150 g/L on 100% of walls) 2 2 product literature
18 low VOC stains and finishes used on wood floors 1 product literature
19 new carpet low VOC certified by the Carpet & Rug Institute 2 2 product literature
FIXTURES & FINISHES TOTAL 28
VA 4.2009 Page 4
POINTS SCORE DOCUMENTATION
5- WASTE MANAGEMENT
1 REQUIRED: No construction materials shall be burned or buried on job site or anywhere but in a state-approved landfill.
5A- RECYCLE CONSTRUCTION WASTE
1 divert 75% beverage containers from work crews 1
2 divert 75% cardboard from new fixtures & appliances 1
3 divert 75% metal (copper piping, wires, or sheet metal) 2
4 divert 75% wood (grind and use as mulch) 3
5 divert 75% drywall (installers can grind, or remove and recycle) 3
6 divert 75% carpet (new carpet installers can recycle old carpet) 2
RECYCLE CONSTRUCTION WASTE SUBTOTAL
5B- SALVAGE FOR REUSE (On or off jobsite)
1 appliances (refrigerators, and/or dish washers, and/or stoves: min. 50%) 3 if off site, letter
2 cabinets, millwork, or trim (min of 50%) 2 if off site, letter
3 wood floors 3 if off site, letter
4 doors (minimum of 2 doors/unit) 2 if off site, letter
5 bathtubs or sinks (min of 50%) 2 if off site, letter
6 reuse 100% of bathtubs or sinks 2
SALVAGE FOR REUSE SUBTOTAL
WASTE MANAGEMENT TOTAL
6- LANDSCAPING/SITE MANAGEMENT PRACTICES
1 soil tested and amended 4 test results
2 native and drought tolerant plants installed (min of 85%) 4 4 species list
3 no irrigation 2
4 install drip irrigation system 2
5 install greywater irrigation 5
6 new outdoor decking and porches (min 40% recycled) 2
7 install rainwater harvest system 3
8 erosion control site plan 2 2 site plan
9 regrade land to slope away from building 2 2
10 use of redundant mulch, compost, or straw bales for erosion control 3
11 individual trees fenced at drip line (1 point per tree, max 5 trees) 1 per tree
LANDSCAPING/SITE MANAGEMENT TOTAL 8
7- HOMEOWNER & CONTRACTOR EDUCATION
1 lead paint test performed 2 2 copy of results
2 asbestos test performed 2 2 copy of results
3 perform radon test and provide results to homeowner/leasee 2 copy of results
4 provide energy operations orientation and binder to homeowner/leasee 1 1 copy of binder
5 install built-in recycling center 2
6 contractor has Certified Land Disturber on site/staff 2 certificate
HOMEOWNER & CONTRACTOR EDUCATION TOTAL 5
VA 4.2009 Page 5
POINTS SCORE DOCUMENTATION
8- BONUS POINTS
1 site located within 1/2 mile of mass transit 3 3
2 sidewalk connects project to business district (max 2 miles) 2 2
3 street trees--minimum interval 40 ft. 3
4 solar electric system providing 10% of project requirements 25
5 alternative fuel vehicles: electric charging station or natural gas pump 4
6 alternative transportation accommodation: bike racks, covered bus stop, etc. 4
7 dedicated pedestrian and bicycle access to surrounding sites 3
8 housing affordability -- 5% 1
9 housing affordability --10% 2 2
10 average density greater than 15 units per acre 3 3
11 centralized community recycling center 5
12 community garden areas 3
13 universal design incorporated in minimum 80% of units 5
14 handicapped visitability at least 150% of minimum unit number required by code 3
15 exterior lighting designed to reduce light pollution 4 lighting plan
16 proximity to Regional Bike Path -- Existing 1
17 proximity to Regional Bike Path -- Planned 1
18 common areas use alternative energy (solar pool heater or solar lighting) 5
19 exceeds ENERGY STAR or 30% goal (1 point for each 5%)
20 Innovation points - Builder submits specifications for innovative products or design features
to qualify for additional points
BONUS POINTS TOTAL 10
EARTHCRAFT HOUSE TOTALS
HIGH PERFORMANCE BUILDING 80
VENTILATION 8
INDOOR WATER 16
FIXTURES & FINISHES 28
WASTE MANAGEMENT
LANDSCAPING/SITE MANAGEMENT 8
HOMEOWNER & CONTRACTOR EDUCATION 5
BONUS POINTS 10
GRAND TOTAL 155
Points Required
100 renovations that do not add conditioned space or alter floor plans
120 renovations that alter floot plans of add conditioned space
VA 4.2009 Page 6
TAB H
(PHA/Section 8 Notification Letter)
TAB I
(Local CEO Letter)
Local CEO Letter to be
submitted by April 1, 2010 in
accordance with guidelines
TAB J
(Homeownership Plan)
Tab Not Applicable
TAB K
(Site Control Documentation-
Documentation of Most Recent Real Estate
Tax Assessment – Acq. Rehab. Only)
Summary Page 1 of 1
| Printable Record Card | Previous Assessment | Condo Info | Sales History | Zoning | Comments |
WebPro
Card 1 of 1
http://realestate.fairfaxva.gov/Summary.asp?AccountNumber=57507 3/3/2010
TAB L
(Plan of Development Certification Letter)
Tab Not Applicable
TAB M
(Zoning Certification Letter)
TAB N
(Copies of 8609’s To Certify Developer Experience)
TAB O.
(Existing Conditions Photos)
The Renovation of
Suburbia Fairfax Apartments 10730 West Drive
Fairfax, VA 22030
Building elevation from parking lot looking at front Partial rear building elevation
of Building No.1 and 2
Typical unit kitchen. New no- Appliances will be replaced per survey.
formaldehyde-added cabinets will be New Energy Star rated dish washer will
installed per survey. New cabinets will be included in all units. All new
meet VHDA Minimum Cabinet appliances will be Energy Star rated.
Standard
Replaced water damaged exterior Replace existing smoke detector with new
mechanical closet doors with new hardwire, battery back-up smoke detector
painted hollow metal doors per survey. and CO detector
Replace plumbing trims with low flow trims. Replace all toilets with 1.1 gpf toilets
Ceramic tub surrounds to be replaced where
tile is damaged and/or mold is present per
the unit conditional survey.
Existing riser-type electric system to be replaced Existing light fixtures will be replaced with
completely. New 125A panels with new feeder and Energy Star rated fixtures.
gears to be installed.
Refrigerator
Other - specify Natural Gas Monthly Fee $11 $11 $11 $11 $11 $11
Actual Family Allowances To be used by the family to compute allowance. Utility or Service per month cost
Complete below for the actual unit rented. Heating $
Name of Family Cooking
Other Electric
Air Conditioning
Address of Use Water Heating
Water
Sewer
Trash Collection
Range/Microwave
Refrigerator
Number of Bedrooms Other
Total $
The proposed operating budget for Suburbia Fairfax Apartments was based on CPDC’s
13+ year ownership of the property, with adjustments to reflect the change from owner-
paid to tenant-paid gas and electricity.
TAB S
(Documentation of Project Budget)
HARKINS BUILDERS, INC. ESTIMATE
DATE 10-Mar-10
JOB #
JOB NAME SUBURBIA FAIRFAX
BUDGET Preliminary #3
GSF 55,500 AVG.GSF/UNIT 1,028
NSF 40,620 AVG.NSF/UNIT 752
# BLDGS 2
# STORIES 3 UNIT MIX 1 BR 2 BR 3 BR
# UNITS 54 12 42 0
EFFICIENCY 73% 22% 78% 0%
COST CODE
DIVISION 1 - GEN'L REQUIREMENTS TOTAL $/GSF $/NSF $/UNIT COMMENTS
COST CODE
DIVISION 4 - MASONRY TOTAL $/GSF $/NSF $/UNIT COMMENTS
COST CODE
DIVISION 5 - METALS TOTAL $/GSF $/NSF $/UNIT COMMENTS
COST CODE
DIVISION 7 - THERMAL & MOISTURE TOTAL $/GSF $/NSF $/UNIT COMMENTS
COST CODE
DIVISION 9 - FINISHES TOTAL $/GSF $/NSF $/UNIT COMMENTS
COST CODE
DIVISION 11 - EQUIPMENT TOTAL $/GSF $/NSF $/UNIT COMMENTS
COST CODE
DIVISION 13 - SPECIAL CONSTR. TOTAL $/GSF $/NSF $/UNIT COMMENTS
COST CODE
DIVISION 14 - CONVEYING SYSTEMS TOTAL $/GSF $/NSF $/UNIT COMMENTS
COST CODE
DIVISION 15 - MECHANICAL TOTAL $/GSF $/NSF $/UNIT COMMENTS
COST CODE
DIVISION 17 - BONDS, INSURANCE TOTAL $/GSF $/NSF $/UNIT COMMENTS
17001 PERFORMANCE BONDS 6,075 0.11 0.15 112.50 Letter of credit provided in lieu of P & P bond.
17002 PERMIT FEES 0 0.00 0.00 0.00
17003 AVAILABILITY & TAP FEES 0 0.00 0.00 0.00
17004 COST AUDIT 9,500 0.17 0.23 175.93
17005 BUILDERS RISK 0 0.00 0.00 0.00
17006 GENERAL LIABILITY 13,500 0.24 0.33 250.00
17007 LOCAL FEES 2,970 0.05 0.07 55.00
17008 LEGAL FEES 0.00 0.00 0.00
17990 SITE BONDS 0.00 0.00 0.00
17991 LETTERS OF CREDIT (YEARLY) 0.00 0.00 0.00
17992 MISC 0.00 0.00 0.00
COST CODE
DIVISION 18 - MISC. TOTAL $/GSF $/NSF $/UNIT COMMENTS
COST CODE
DIVISION 19 - RESERVED TOTAL $/GSF $/NSF $/UNIT COMMENTS
19001 CONTINGENCY 100,000 1.80 2.46 1,851.85 Contingency for design and escalation.
19990 MISC 0.00 0.00 0.00
19991 MISC 0.00 0.00 0.00
19992 MISC 0.00 0.00 0.00
COUNSELORS AT LAW
This undersigned firm represents the above-referenced Owner as its counsel. It has received a copy of
and has reviewed the completed application package dated March 12, 2010 (of which this opinion is a
part) (the "Application") submitted to you for the purpose of requesting, in connection with the
captioned Development, a reservation of low income housing tax credits ("Credits") available under
Section 42 of the Internal Revenue Code of 1986, as amended (the "Code"). It has also reviewed
Section 42 of the Code, the regulations issued pursuant thereto and such other binding authority as it
believes to be applicable to the issuance hereof (the regulations and binding authority hereinafter
collectively referred to as the "Regulations").
Based upon the foregoing reviews and upon due investigation of such matters as it deems necessary in
order to render this opinion, but without expressing any opinion as to either the reasonableness of the
estimated or projected figures or the veracity or accuracy of the factual representations set forth in the
Application, the undersigned is of the opinion that:
1. It is more likely than not that the inclusion in eligible basis of the Development of
such cost items or portions thereof, as set forth in Parts VIII and IX of the
Application form, complies with all applicable requirements of the Code and
Regulations.
2. The calculations (a) of the Maximum Allowable Credit available under the Code
with respect to the Development in Part VIII of the Application form and (b) of the
Estimated Qualified Basis of each building in the Development in Part IX of the
Application form comply with all applicable requirements of the Code and
Regulations, including the selection of credit type implicit in such calculations.
KH 154123.1
www.kleinhornig.com
3. The appropriate type(s) of allocation(s) have been requested in Subpart I-D of the
Application form.
4. The information set forth in Subpart VII-C of the Application form as to proposed
rents satisfies all applicable requirements of the Code and Regulations.
8. It is more likely than not that the representations made under. Subpart I-F of the
Application form as to the Development's compliance with or exception to the
Code's minimum expenditure requirements for rehabilitation projects are correct.
9. After reasonable investigation, the undersigned has no reason to believe that the
representations made under Subpart I-E of the Application form as to the
Development's compliance with or eligibility for exception to the ten-year "look-
back rule" requirement of Code §42(d)(2)(B) are not correct.
Finally, the undersigned is of the opinion that, if all information and representations contained in the
Application and all current law were to remain unchanged, upon compliance by the Owner with the
requirements of Code Section 42(h)(1)(E), the Owner would be eligible under the applicable
provisions of the Code and the Regulations to an allocation of Credits in the amount(s) requested in
the Application.
This opinion is rendered solely for the purpose of inducing the Virginia Housing Development
Authority ("VHDA") to issue a reservation of Credits to the Owner. Accordingly, it may be relied
upon only by VHDA and may not be relied upon by any other party for any other purpose.
This opinion was not prepared in accordance with the requirements of Treasury Department
Circular No. 230. Accordingly, it may not be relied upon for the purpose of avoiding U.S. Federal
KH 154123.1
Virginia Housing Development Authority
Page 3
tax penalties or to support the promotion or marketing of the transaction or matters addressed
herein.
KH 154123.1
TAB Y
(Marketing Plan for units meeting accessibility
requirements of HUD section 504)
SUBURBIA FAIRFAX APARTMENTS
MARKETING PLAN
MARKETING PLAN
FOR
Suburbia Fairfax Apartments
All housing opportunities are available to all persons regardless of their race, color, creed,
religion, sex, national origin, marital status, physical or mental handicap, or any other
prohibited basis of discrimination in accordance with Title VII of the Federal Civil Rights Acts
of 1968. In addition, housing opportunities are available in accordance with §36-96.3A(1) of
the Virginia Code, which includes, race, color, religion, national origin, sex, elderliness or
familial status. All marketing, leasing, advertising and resident selection will be done in
accordance with the abovementioned Fair Housing policies.
OVERVIEW
Suburbia Fairfax Apartments is a garden-style community located in Fairfax City, Virginia. The
property includes 54 rental apartment homes situated in three-story buildings of two clusters. The
site consists of an irregularly-shaped parcel containing 3.1 acres. It is bordered by a park to the
south, by single-family homes to the west and north, and by a condominium property to the east. The
site has two driveway entrances. Suburbia Fairfax Apartments is served by all public utilities
including gas, electricity, water, sewer, telephone and cable.
No. Of
Units Description Square Footage
The property was originally developed under the FHA Section 236 loan program, and is now subject
to a recorded Use Agreement (the LIHPRHA Covenant) which requires that 39 of the units be rented
to households with incomes at or below 50% of the Area Median Income, 3 of the units be rented to
households with incomes from 51% to 80% of the Area Median Income, and 12 of the units be
rented to households with incomes from 81% to 95% of the Area Median Income.
Suburbia Fairfax Development LLC plans to renovate the property, in part using Low Income
Housing Tax Credits.
NEIGHBORHOOD
The property is located on West Drive, just south of the historic downtown area of Fairfax, VA. It is
0.4 miles from Chain Bridge Road (Virginia Route 123), a major thoroughfare. Properties in the
surrounding area are generally maintained in good condition with older vintage style properties
Page 2
being renovated over time.
All tenants who are lawful residents of the property at the time the property is acquired by Suburbia
Fairfax Development LLC, shall be permitted to reside at the property under the terms of their
existing lease and or subsequent new lease to be signed as a result of Low Income Housing Tax
Credit conversion, shall only be required to comply with the Eligibility and Selection Criteria as it
relates to the provisions of Section 42 Tax Credit financing of the property. This includes, but is not
limited to sections 1, 6, 10, 11, 20, 21, and 22 contained within the Eligibility and Selection Criteria
herein.
The annual income and family composition are the key factors for determining eligibility. The
Community Manager, however, will also consider the following criteria in screening applicants:
ELIGIBILITY CRITERA
1. Applicants must meet the applicable income limits as established by the LIHPRHA
Covenant and LIHTC programs and/or the regulations and underlying documents for
the unit for which they are applying. Thirty-nine units will units will be rented to
households with income at or below fifty percent (50%) of area median income,
subject to the LIHTC program. All other units will be rented according to LIHPRHA
guidelines. The applicable income limits will be posted in the Rental Office.
2. Applicants must provide complete and accurate verification of all income of all
family members. The household’s annual gross income may not exceed the
applicable tax credit limit. The annual gross income is compared to income limits to
determine eligibility.
3. Family composition must be compatible for units available on the property. No more
than two persons may occupy the same bedroom.
Families must be placed in apartments of appropriate size for the composition and
size of the family as follows:
Page 3
Bedroom Family size
1 1-2
2 2-4
a. Any adult member (as defined by the tax credit monitoring agency) of the
household is married and filed a joint Federal Tax return in the previous year;
or
b. If the household consists of a single-parent of a child (or children) in school,
none of whom are dependent upon a third-party; or
c. A household member is a recipient of Aid to Families with Dependent
Children (AFDC); or
d. A household member is in a federal, state or local job training program
comparable to the Job Training Partnership Act.
Selection Criteria
The Agent recognizes that the process of screening and accepting applicants is crucial to
well being of the development. The Agent will screen applicants to not only insure that they
meet the above criteria as established by the tax credit program but also to determine that
they will be responsible residents. In addition, the Resident Selection procedure will apply to
applicants, including all adult members of the applicant's family who are expected to reside
in the unit. The annual income and family composition are the key factors to determining
resident eligibility. However, the Community Manager will also consider the following
criteria in screening applicants for occupancy.
2. Applicants must not receive a poor credit rating from the Credit Bureaus and other
credit reporting agencies, as well as must demonstrate an ability to pay rent on time.
A credit report will be conducted for each adult member of the household who is
eighteen (18) years of age or older without charge to the applicant. The credit report
will be reviewed to determine the history of payment practices, utilities, outstanding
loans, judgments, bankruptcies, foreclosures, etc. Ratings on this report 0, 1, 2, or 3
will be generally acceptable. Ratings of 4 through 9, excluding medical, that are
dated within three (3) years will be cause for rejection.
The following items will be considered examples of unfavorable credit references and will serve as
Page 4
the basis for rejection of the application and applicant’s eligibility.
a. Utility accounts such as gas, electric, water and sewer with a rating of 4
through 9 regardless of the date the account became delinquent will be
grounds for rejection of the application. Even if the account is paid off after
the date of application, it will still remain grounds for rejection.
If utility accounts have a rating of 4 through 9 but were paid off prior to the
date of the application, it will not be considered grounds for rejection so long
as a zero (0) balance showing on the credit report and/or payment in full can
be verified as being made prior to the date of application.
c. Any outstanding civil judgments or civil suits, excluding medical, at the time
of processing the application will be grounds for rejection of the application.
d. A bankruptcy filed within the past three (3) years, unless the result of a
medical catastrophe will be grounds for the rejection of the application.
A lack of established credit in and of itself will not be grounds for rejection.
If the applicant's denial is based upon a credit report, the applicant will be advised of
the source of the credit report in accordance with the Federal Fair Reporting Act.
Guidelines published by the Federal Trade Commission suggest that apartment
managers fall under the provisions of the act and therefore are obligated to tell a
person refused an apartment for credit reasons, the name and address of the credit
reporting firm. The credit report will not be shown to the applicant nor will specific
information be revealed.
The application and eligibility are, however, considered rejected until updated
information is received from the credit agency. The applicant will be assigned to the
waiting list chronologically according to the date of receiving a satisfactory credit,
and criminal history report.
Any application on the waiting list for ninety (90) days or longer will require an up-
Page 5
dated credit report be conducted when a unit becomes available. If lieu of this, if a
negative credit report is received anytime after the initial approval of the applicant’s
credit report, the applicant will be notified in writing that under the above guidelines,
the application and eligibility are rejected.
3. Applicants must demonstrate their ability to pay rent on time. Verifiable rental
history will include a copy of the applicant’s rental agreement showing a monthly
amount which is due to rent along with copies of cancelled checks or payment
receipts and a completed Landlord Verification form signed by the current Landlord
and any additional Landlords over the last four (4) years. Those applicants whose
history shows a late payment record of more than ten (10) days past due on two or
more occasions over the past year as verified by the current and prior Landlords
and/or by court records will constitute a rejection on the basis of poor rental history.
In addition, applicants may not owe a former Landlord a prior balance for rent or
other related occupancy charges. No further considerations of delinquent accounts as
listed under #2 above will occur if the applicant cannot provide a verifiable and
satisfactory rental history as stated above. The application will be denied in this
instance.
6. Applicants must fill out Application for Lease and all verification forms truthfully.
7. Applicant(s) or any member of the household who are convicted of the illegal
manufacture or distribution of a controlled substance is not eligible for residency at
Suburbia Fairfax Apartments. Similarly any applicant(s) convicted of a violent
crime, sexual assault, assault or weapons violations within the last three years will
not be considered for occupancy. Applicants or any member of the household who
Page 6
are current illegal abusers or addicts of a controlled substance are also not eligible for
residency at Suburbia Fairfax Apartments. However, if an applicant is in a treatment
program for a controlled substance abuse and also has a job, then that applicant shall
be considered for residency at Suburbia Fairfax Apartments.
9. Applicants who demonstrate a substantial risk of failure to comply with the terms of
the Lease, such as providing shelter to unauthorized occupants, keeping unauthorized
pets, painting or decorating or substantially altering the unit without Agent's
approval will not be eligible for residency at Suburbia Fairfax Apartments.
10. Applicants must provide verification of full-time student status for all individuals
listed on the application as full-time students.
11. All applicants are required to disclose and verify the Social Security Numbers of all
household members.
13. Housing opportunities are available to all persons regardless of their race, color,
creed, religion, sex, national origin, marital status, physical or mental handicap or
any other prohibited basis of discrimination. Anyone who feels that he or she has
been discriminated against should contact the Property Manager at (301) 562-1600.
14. Failure to meet the eligibility/occupancy criteria will result in applicant ineligibility.
b. During the past 24 months, have more than three (1) judgments of
possession entered against an applicant for rent due and unpaid;
d. Owe a current or former landlord a prior balance for unpaid rent and
other related occupancy expenses.
16. Applicants must provide a doctor's statement and/or other proof of any handicap or
disability if same is claimed.
17. Applicants must provide proof of age for persons 62 years of age or older who will
be heads of the household in order to obtain the elderly head of household allowance.
18. Applicants must provide Birth Certificates for all persons in the household.
19. Applicants must provide all information required by current Federal and VHDA
regulations and policies.
All units will be occupied on a first come, first served basis in accordance with the unit
size standards. The vacant units will first be occupied through in-house transfers in
accordance with the transfer policy. After all transfers have been completed, vacant units
will be occupied by applicants on the waiting list.
Applicants for units designated for the mobility impaired will be selected on a first come,
first served basis for those households containing a handicapped person with a mobility
impairment requiring the special design features of the unit.
21. Family composition must be compatible for units available on the property. No more
than two persons may occupy the same bedroom.
Page 8
Families must be placed in apartments of appropriate size for the composition and
size of the family as follows:
1 1-2
2 2-4
Renovation of the property is expected to be completed by the end of December of 2011. The
marketing period will begin three hundred and sixty-five days before the anticipated completion of
the rehabilitation of the first set of units. Marketing will be an ongoing program, varying in intensity
with the needs of the development. During initial rent up, the marketing efforts will be intense until
a 95% occupancy level of the units has been achieved. Minimal marketing efforts will then be
needed to complete the lease up of the remaining units.
It is expected that leasing will continue in conjunction with the construction schedule and will not be
negatively affected. Move-ins will be scheduled based on availability of units. Future units will be
pre-leased based on availability dates.
We will concentrate our primary marketing efforts on attracting qualified applicants for units. Our
marketing efforts will include, but are not limited to, signage, newspaper advertisements, flyers and
other promotional materials. Each of these aspects is discussed in further detail in subsequent pages
of this plan. The entire property should reach 95% occupancy no later than one hundred twenty days
after rehabilitation has been completed.
Newspaper Advertising
Print advertising will be primarily concentrated in the Washington Post which has the widest
circulation of all publications in Fairfax, VA. However, this source is expensive and ads will be
carefully placed to be most cost effective as well as successful. Initially a 15 - 25 line ad will run in
Sunday’s and Wednesday’s paper.
Smaller squib ads for 1 and 2 bedroom apartment homes may be run Monday through Friday
determined by the unit delivery schedule and availability.
The above ad schedule will begin ninety days prior to the anticipated completion of rehab and
Page 9
continue throughout lease-up. Squib ads will continue as necessary.
Additional advertising may be done in the local Fairfax City and Fairfax County Newspapers.
Signage
All exterior temporary signage will be installed with the commencement of construction. It is
important to establish the image for Suburbia Fairfax Apartments in conjunction with the lease-up.
There will be one main identifier sign at the entrance. One office directional sign will be located in
the parking lot near the rental office. In addition, “Now Renting” banners may be hung on the face
of the building as well as directionals around the community directing traffic to the property.
A marketing brochure/information sheet featuring the logo and a brief description of the property
and amenities should be available for distribution to all prospective applicants and for community
distribution. The brochure/information sheet will be professionally designed and produced.
Flyers can be professionally designed and copied by the on site staff at any time. These flyers can be
placed in local businesses, on community bulletin boards, or handed out at shopping centers.
Balloons should be utilized on the property to draw attention to the offices and at the entrance to the
property. Costs involved for producing flyers and balloons are minimal.
LEASING ACTIVITIES
All leasing activities will take place on site. Leasing activities include showing apartments, when
available, taking applications, qualifying applicants, signing leases, accepting security deposits, and
other related activities. In addition, Management will maintain unit availability charts, indicating the
status of units and daily traffic logs indicating the number of responses to various ads and status of
applications. Guest cards are required from all prospects in order to assure compliance with Fair
Housing Guidelines.
All applicants will be able to view their unit prior to signing a lease.
Page 10
OFFICE HOURS
The office house will be flexible and will adjust according to the needs of the property. Initially
through lease up and the intensive marketing phase, the hours will be:
Special appointments can be made at any time. The office will close for lunch.
An answering service will be available during non-working hours. Applicants will be able to leave
messages so that staff can return calls the following business day.
The targeted market group for Suburbia Fairfax Apartments will be defined by the income limits
required by LIHPRHRA Covenant and the LIHTC program. Under the LIHTC program, the
Owners have elected to set aside 39 units at 50% of median income.
Under the LIHTC program and the LIHPRHA covenant, 39 of the units of the units must be rented
to households whose income is at or below 50% of median income adjusted for family size, and the
balance are restricted under LIHPRHA between 51% and 95% of AMI. Suburbia Fairfax
Apartments will have one- and two-bedroom units; therefore families of one to a maximum of four
persons may occupy a unit at Suburbia Fairfax Apartments. The maximum income by family size
for the three income tiers at the property is:
The rents at the property will continue to be set by HUD. Moreover, the rents will also be restricted
under the LIHTC guidelines. The maximum permissible rents for the LIHTC units, including
utilities, are:
Page 11
Bedroom Size Median Income Maximum * Number of
Permissible Units
Rent
One Bedroom 50% of Median Income $963.00 10
Two Bedroom 50% of Median Income $1,155.00 44
The minimum income that a prospective resident may have and be considered qualified to pay the
rent will be determined on a case by case basis. In general, a family should not spend more than
30% of their gross income for rent including utilities.
Example: Monthly rent for a one bedroom of $650 with $50 utility allowance = Total monthly
housing cost of $700. The minimum qualifying income would be $650 x 12 / .40 = $19,500. This
minimum qualifying income would be acceptable with good credit and little to no debt.
Page 12
Marketing Plan for Handicapped Accessible Units
Six of the units at Suburbia Fairfax Apartments will be renovated and fully equipped to
accommodate the needs of those with physical disabilities and with hearing and sight impairment
and additional units will be equipped specifically for hearing and sight impaired only. The units
will be equipped to comply fully with HUD regulations interpreting accessibility requirements of
The Uniform Federal Accessibility standards in accordance with the Architectural Barriers Act,
42 U.S.C. 4151-4157.
At initial occupancy and upon turnover, each of the accessible units will be held vacant until
they are leased to an eligible household.
The Owner and Managing Agent will create a flyer that lists the basic accessibility features of
the units that meet the accessibility requirements of HUD Section 504 regulations. This flyer
will be made available in alternative formats upon request; including large print, computer
diskette or audiotape. The flyer will be distributed via US postal service or email to
organizations whose emphasis is placed on assisting persons with special needs; including:
City of Fairfax
- Department of Human Services
- Housing Programs, Health & Mental Health programs
(703) 385-7894
Page 13
Fairfax Area Disability Services Board
(703) 324-5421
The Owner and Managing Agent will work with local organizations, neighborhood civic
organizations, places of worship, city and government officials dedicated to assisting physically
impaired individuals to identity potential qualified residents.
PERSONNEL
Maintenance Engineer - Respond to requests for maintenance services by residents, keep property
in good repair, establish and conduct preventive maintenance schedules, supervise outside
contractors, maintain property equipment and machinery, respond to emergency situations after
hours, and other duties assigned by the Community Manager.
Custodial/Grounds Technician - Janitorial duties, grounds keeping, unit turnover preparation, and
other duties assigned by the Community Manager.
CONSTRUCTION
The marketing staff will coordinate closely with the construction staff to ensure quality control and
to minimize confusion on scheduling. The delivery schedule will be obtained from construction at
the start of the construction phase. This schedule will be updated daily to insure accuracy. The
construction staff will inform marketing of delays in the delivery of units.
The Community Manager or his/her designee will inspect the unit and sign a copy of the punch-out
list if the work and the unit are acceptable to management. A copy of the inspection and sign off on
the punch-out list will be kept on site in the unit file. If further work is needed, construction will
complete same and advise the Community Manager when the work has been completed. After
Management has accepted the unit, and has scheduled a move-in date for an acceptable resident,
construction will obtain the final approvals from the regulating agencies, and obtain a Certificate of
Page 14
Occupancy for the unit just prior to move in of the new resident.
If there is a disagreement about the work needed or acceptance standards, then the issue will be
brought to the attention of the Owner or Owner’s designee for action.
The Owner will inform Management about construction changes that will affect leasing.
Management, in turn, will provide the Owner with weekly, or more often if requested, status reports
as to acceptance and leasing of units.
Construction shall not interfere with the marketing function. A written plan outlining construction
activity will be drawn up and agreed to by the General Contractor. The plan will provide guidelines
for:
1. Vehicle traffic
2. Parking
3. Hours of Operation once occupancy is started
4. Material storage
5. Site maintenance and cleanliness at all times
6. Deliveries
7. Supervision of trades
8. Access of occupied units
9. Areas of operation
10. Policing site at end of day to ensure cleanliness
11. Construction office
12. Security
13. Behavior of contractor and subcontractor personnel
14. Use of bathroom facilities
15. Loitering after hours by construction personnel
16. Consumption of alcohol or drugs on or near site
17. Trash
18. Hazardous materials
19. Safety
The plan will also establish liaisons from the construction staff. A procedure to deal with latent
defects and construction “call backs” that is acceptable to all parties will be developed.
Page 15