28th ST Seniors

INSTRUCTIONS FOR THE
VIRGINIA 2011 LIHTC APPLICATION FOR RESERVATION
This application was prepared using Excel, Microsoft Office 2003. Please note that using the active Excel
workbook does not eliminate the need to submit the required PDF of the signed hardcopy of the application and
related documentation. A more detailed explanation of application submission requirements is provided
below and in the Application Manual.
An electronic copy of your completed application is a mandatory submission item.
Applications For 9% Competitive Credits

Applicants should submit an electronic copy of the application package on a CD prior to the
application deadline, which is 2:00 PM Richmond Virginia time on March 11, 2011. Failure to submit an electronic
copy of the application by the deadline will cause the application to be disqualified.
Please Note:
Applicants should submit all application materials in electronic format only.
There should be distinct files saved to 1 or more CDs (as needed) which should include the following:
1. Application For Reservation – the active Microsoft Excel workbook
2. A PDF file which includes the following:
- Application For Reservation – Signed version of hardcopy
- All application attachments (i.e. tab documents, excluding market study and plans & specs)
3. Market Study – PDF or Microsoft Word format
4. Plans - PDF or other readable electronic format
5. Specifications - PDF or other readable electronic format (may be combined into the same file as the
plans if necessary)
6. Unit-By-Unit work write up (rehab only) - PDF or other readable electronic format
Notes:
-Do not submit any files on a flash or thumb drive.
-Do not submit any application materials via TaxCreditApps@VHDA.com or to any email address unless
specifically requested by the VHDA Allocation Department staff.
Disclaimer:
VHDA assumes no responsibility for any problems incurred in using this spreadsheet or for the
accuracy of the calculations. Check your application for correctness and completeness before
submitting the application to VHDA.
Entering Data:
Enter numbers or text as appropriate in the blank spaces highlighted in yellow. All other cells are
protected and will not allow any changes. The format for cells has been set to accept text, currency,
percentages, etc. as appropriate. Enter any number without commas or dollar signs. Enter
percentages beginning with a decimal point. There is no text wrap-around feature, so care must be
taken to enter text so that it does not extend beyond the right margin of the page. Enter in only enough
text to fill one line and then drop to the first yellow cell of the next line. Each page of the application is a
separate sheet in the spreadsheet. The spreadsheet contains numerous error checks which are
designed to assist you in identifying potential mistakes in your application. Please note that these may
appear as you enter data because many are dependent on entries later in the application. Do not be
concerned with these messages until all data has been entered. Also note that some cells contain
error messages such as "#DIV/0!" before you begin. These warnings will disappear as you enter
numbers necessary to complete the application.
Assistance:
If you have any questions, please call Jim Chandler at (804) 343-5786, Dale Wittie at (804)
343-5876, Cara Wallo at (804) 343-5714, Jaynell Pittman-Shaw at (804) 343-5733 or Rebecca Rowe
at (804) 343-5518. Please note that we cannot release the copy protection password.
Staff email addresses:

jim.chandler@vhda.com - dale.wittie@vhda.com
cara.wallo@vhda.com - jaynell.pittman-shaw@vhda.com - rebecca.rowe@vhda.com
v1.1.2011 Instructions
2011 Feder al L ow I ncome Housing
Tax Cr edit Pr ogr am
Application For Reser vation
Deadline for Submission
9% Competitive Credits
Applications Must Be Received At VHDA No Later Than 2:00
PM Richmond, VA Time On March 11, 2011
Tax Exempt Bonds

Applications should be received at VHDA at least one month
before the bonds are priced (if bonds issued by VHDA), or 75
days before the bonds are issued (if bonds are not issued by
VHDA)
Virginia Housing Development Authority

601 South Belvidere Street
Richmond, Virginia 23220-6500
v1.1.2011
L ow I ncome Housing Tax Cr edit Application for Reser vation
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.
Electronic Copy of the Microsoft Excel Based Application (M ANDATORY)

Scanned Copy of the Signed Tax Credit Application with Attachments (excluding market study and plans & specs) (M ANDATO
Electronic Copy of the Market Study (M ANDATORY-Application will be disqualified if study not submitted with application)
Electronic Copy of the Plans (M ANDATORY)
Electronic Copy of the Specifications (M ANDATORY)
Electronic Copy of the Unit By Unit Work Writeup (M ANDATORY if r ehab)
$750 Application Fee (M ANDATORY )
Tab A: Documentation of Development Location:
A.1 Qualified Census Tract Certification
A.2 Revitalization Area Certification
Location Map
Surveyor's Certification of Proxi mity To Public Transportation
Tab B: Partnership or Operating Agreement, including chart of ownership structure with percentage of interests (M ANDATORY
Tab C: Virginia State Corporation Commission Certification (M ANDATORY)
Tab D: Principal's Previous Participation Certification and Resumé (M ANDATORY)
Tab E: Nonprofit Questionnaire (M ANDATORY for points or pool)
The following documents need not be submitted unless requested by VHDA:
-Nonprofit Articles of Incorporation -IRS Documentation of Nonprofit Status
-Joint Venture Agreement (if applicable) -For-profit Consulting Agreement (if applicable)
Tab F: Architect's Certification (M ANDATORY)
Tab G: Relocation Plan (M ANDATORY, if rehab)
Tab H: PHA / Section 8 Notification Letter
Tab I: Local CEO Letter
Tab J: Homeownership Plan
Tab K: Site Control Documentation & Most Recent Real Estate Tax Assessment (M ANDATORY)
Tab L: Plan of Development Certification Letter
Tab M: Zoning Certification Letter
Tab N: Copies of 8609s To Certify Developer Experience
Tab O: (Reserved)
Tab P: Plans and Specifications and Work Write-Up (M ANDATORY )
Tab Q: Documentation of Rental Assistance
Tab R: Documentation of Operating Budget
Tab S: Documentation of Project Budget
Tab T: Documentation of Financing Sources
Tab U:
Documentation To Request Exception To Restriction-Pools With Little/No Increase In Rent Burdened Population
Documentation of site location in an urban development area as defined in §15.2-2223.1of the Code of Virginia
Documentation of the development participating 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
Tab V: Nonprofit or LHA Purchase Option or Right of First Refusal
Tab W: Attorney's Opinion (M ANDATORY)
Tab X: (Reserved)
Tab Y: Marketing Plan for units meeting accessibility requirements of HUD section 504
v1.1.2011 Submission Checklist

L ow-I ncome Housing Tax Cr edit Application For Reser vation
VHDA TRACK I NG NUM BER 2011-C-49

I. Gener al I nfor mation
All code "Section" references are to, and the term "IRC" shall be deemed to mean, 3/10/2011
the Internal Revenue Code of 1986, as amended. (Date of Application)
A. Development Name and L ocation:

1. Name of Development 28th Street Senior Apartments
2. Address of Development 1208 N 28th Street
(Street)
Richmond VA 23223
(City) (State) (Zip Code)
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)
4. The Circuit Court Clerk's office in which the deed to the property is or will be recorded:
City/County of Richmond 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: 207
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 If no, applicant may request that the property be treated
as if it is located in a DDA. If so, indicate by checking this box: (Note: This provision is NOT applicable to tax exempt bond deals.)
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 seeki ng 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.
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)
14. Congressional District 3 http://dlsgis.state.va.us/congress/2001PDFs/chap7Tab.pdf
Planning District 15 http://www.vapdc.org/aboutpdcs.htm#PDC%20Map
State Senate District 16 http://dlsgis.state.va.us/senate/2001PDFs/Chap2Tab.pdf
State House District 70 http://dlsgis.state.va.us/House/2001HousePDFs/Chap1Tab.pdf
15. Location Map Attached (TAB A)
B. Pr oj ect Descr iption:

In the space provided below, give a brief description of the proposed project.
A senior housing development located in Church Hill in Richmond. This complex will consist of 2 buildings with a total of 39 units. Common meeting/gathering spac
and common laundry facilties will be provided within the larger building. The project will be Earthcraft certified and will include solar hot water
and photo-voltaic panels.
v1.1.2011 Page 1
L ow I ncome Housing Tax Cr edit Application For Reser vation
C. Reser vation Request
1. Total annual credit amount request (Must be the same as Part IX-D8) $371,088
2. Credits requested from:

9% Cr edits
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 Geographic
Non-Competitive Pool (Preservation) Non-Competitive Pool (Disability)
Tax Exempt Bonds

new construction, or
rehabilitation, or
acquisition and rehabilitation.
Federal Subsidies
The development will not receive federal subsidies.
This development will receive federal subsidies for:

all buildings or
some buildings.
D. Type(s) of Allocation/Allocation Year
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 2011 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, 2011, but the
owner will have more than 10% basis in the development before the end of twelve
months following allocation of credits. For those buildings, the owner requests
a carryforward allocation of 2011 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 2012 or 2013).
3. Federal Subsidies
The development will not receive federal subsidies.
This development will receive federal subsidies for:
all buildings or
some buildings.
v1.1.2011 Page 2
E. Acquisition Cr edit I nfor mation
NOTE: If no credits are being requested for exi sting buildings being acquired for the development,
so indicate and go on to Part F: No Acquisition
Ten-Year Rule For Acquisition Cr edits
All buildings satisfy the 10-year look-back rule of IRC Section 42 (d)(2)(B), including the
10% basis/$15,000.00 rehab costs ($10,000 for Tax Exempt Bonds) per unit requirement.
All buildings qualify for an exception to the 10-year rule under IRC Section 42(d)(2)(D)(i),
Subsection (I)
Subsection (II)
Subsection (III)
Subsection (IV)
Subsection (V)
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.
F. Rehabilitation Cr edit I nfor mation
NOTE: If no credits are being requested for rehabilitation expenditures, so indicate and go
on to Section II. No Rehabilitation
M inimum Expenditur e Requir ements

All buildings in the development satisfy the rehab costs per unit requirement of IRC
Section 42(e)(3)(A)(ii).
All buildings in the development qualify for the IRC Section 42(e)(3)(B) exception to the
10% basis requirement (4% credit only).
All buildings in the development qualify for the IRC Section 42(f)(5)(B)(ii)(II) exception.
Different circumstances for different buildings. Attach a separate sheet and
explain for each building.
G. Request For Exception

The proposed new construction development (including adaptive reuse and rehabilitation that creates additional rental
space) is subject to an assessment of up to minus 20 points for being located in a pool identified by the Authority as a po
with little or no increase in rent burdened population. N/A - Does not apply to this proposed development.
Applicant seeks an exception to this restriction in accordance with one of the following provisions under 13VAC10-180-
Proposed development is specialized housing designed to meet special needs that cannot readily be addressed
utilizing existing residential structures. Documentation Attached (TAB U)
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)
v1.1.2011 Page 3
I I . OWNERSHI P I NFORM ATI ON
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
Certification.
Must be an individual or legally formed entity
A. Owner I nfor mation:

Name 1208 North 28th Street, LLC
Contact Person First: Lee Middle: S. Last: Alford
Address 23 W. Broad Street, Suite 100
(Street)
Richmond VA 23220
(City) (State) (Zip Code)
Federal I. D. No. (If not available, obtain prior to Allocation)

Phone 804-644-0546 x 17 Fax 804-644-1057 Email addr ess l.alford@betterhousingcoalition.org
Type of entity: Limited Partnership Other Limited Liability Corp
Individual(s) Corporation
Owner's organizational documents (e.g. Partnership agreements & ownership structure chart) attached (M andator y TAB B)
Certification from Virginia State Corporation Commission attached (M andator y TAB C)
Principal(s) involved (e.g. general partners, LLC members, controlling shareholders, etc.):
Names ** Phone Type Ownership % Ownership
PAD IX, Inc. (Sole Member of 1208 North 804-644-0546 Sole Member 100.00%
28th Street, LLC) (100% of the stock of PAD 0.00%
IX, Inc. is owned by Better Housing Coalition 0.00%
(BHC), a nonstock Virgina corporation exempt from 0.00%
tax under Section 501 (c)(3) 0.00%
TK Somanath, CEO of BHC 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.
Principals' Previous Participation Certification attached (M andator y TAB D) & resumé.
B. Seller I nfor mation:

Name Richmond Affordable Housing Contact Person TK Somanath
Address 23 W. Broad Street, Suite 100
Richmond, VA 23220 Phone 804-644-0546 x 19
I s ther e an identity of inter est between the seller and owner /applicant? Yes No
If yes, complete the following:
Principal(s) involved (e.g. general partners, controlling shareholders, etc.)

Names Phone Type Ownership % Ownership
TK Somanath, President of Richmond 804-644-0546 x19 Non-profit 100.00%
Affordable Housing (RAH), a nonstock Virginia Corporation exempt 0.00%
from tax under Section 501 (c)(3). RAH and BHC, the controlling shareholder of the 0.00%
Managing Member have some common directors 0.00%
v1.1.2011 Page 4
C. Development Team I nfor mation:

Complete the following as applicable to your development team.
1. Tax Attorney: Johnson Kanady Related Entity? Yes No

Firm Name: Kanady and Quinn
Address: 9200 Forest Hill Avenue, Suite C
Phone: 804-282-8484 Fax: 804-282-8496
2. Tax Accountant: Gary Romer Related Entity? Yes No

Firm Name: Goodman & Company
Address: 4510 Cox Road, Suite 200 Glen Allen, VA 23060
Phone: 804-282-7636 Fax: 804-282-1461
3. Consultant: Related Entity? Yes No

Firm Name: Role:
Address:
Phone: Fax:
4. Management Entity (Contact): Mary Kay Huss Related Entity? Yes No

Firm Name: Better Housing Coalition Management
Address: PO Box 12117 Richmond, VA 23241
Phone: 804-644-0546 x 31 Fax: 804-644-1057
5. Contractor (Contact): Jeff Reynolds Related Entity? Yes No

Firm Name: Better Homes Incorporated
Phone: 804-644-0546 x 29 Fax: 804-644-1057
6. Architect: Mark Larson Related Entity? Yes No

Firm Name: Baskervill
Phone: 804-343-1010 Fax: 804-343-0909
7. Real Estate Attorney: Johnson Kanady Related Entity? Yes No

Firm Name: Kanady and Quinn
Address: 9200 Forest Hill Avenue, Suite C
Phone: 804-282-8484 Fax: 804-282-8496
8. Mortgage Banker: Related Entity? Yes No

Firm Name:
Address:
Phone: Fax:
9. Other (Contact): Related Entity? Yes No

Firm Name: Role:
Address:
Phone: Fax:
v1.1.2011 Page 5
D. Nonpr ofit I nvolvement:
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 Cr edit Nonpr ofit 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 ranki ng system, the nonprofit's involvement need not necessarily
satisfy all of the requirements for participation in the nonprofit tax credit pool.
1. Nonprofit Involvement (All Applicants)

If there is no nonprofit involvement in this development, please indicate by checki ng here:
and go on to part III
2. Mandatory Questionnaire
If there is nonprofit involvement, you must complete the Non-Profit Questionnaire
Questionnaire attached (M andator y TAB E)
3. Type of involvement
Nonprofit meets eligibility requirement for points only, not pool or
Nonprofit meets eligibility requirements for nonprofit pool and points.
4. Identity of Nonprofit (All nonprofit applicants)

The nonprofit organization involved in this development is:
the Owner
the Applicant (if different from Owner)
Other
Better Housing Coalition
(Name of nonprofit)
Lee Alford 23 W. Broad Street Suite 100
(Contact Person) (Street Address)
Richmond VA 23220
(City) (State) (Zip code)
804-644-0546 x 17 804-644-1057
(Phone) (Fax)
5. Percentage of Nonprofit Ownership (All nonprofit applicants)

Specify the nonprofit entity's percentage ownership of the general partnership interest: 100.0%
v1.1.2011 Page 6
I I I . DEVEL OPM ENT I NFORM ATI ON
A. Str uctur e and Units:

1. Total number of all units in development 39
Total number of r ental units in development 39 bedrooms 49
Number of low-income rental units 39 bedrooms 49
Percentage of rental units designated low-income 100.00%
2. The development's structural features are (check all that apply):
Row House/Townhouse Detached Single-family

Garden Apartments Detached Two-family
Slab on Grade Basement
Crawl space Age of Structure: 0
Elevator Number of stories: 3
3. Number of new units 39 bedrooms 49
Number of adaptive reuse units 0 bedrooms 0
Number of rehab units 0 bedrooms 0
4. Total Floor Area For The Entire Development 37,751.55 (Sq. ft.)
5. Unheated Floor Area (Breezeways, Balconies, Storage) 2,251.52 (Sq. ft.)
6. Nonresidential Commercial Floor Area 0.00 (Sq. ft.)

(Not eligible for funding)
7. Total Usable Residential Heated Area 35,500.03 (Sq. ft.)
8. Number of Buildings (containing rental units) 2
9. Commercial Area Intended Use: n/a
10. Project consists primarily of a building(s) which is (are (CHOOSE ONL Y ONE)
Low-Rise (1-5 stories with any structural elements made of wood)

Mid-Rise (5-7 stories with no structural elements made of wood)
High-Rise (8 or more stories with no structural elements made of wood)
11. a. Total Net Rental Square Feet 25,634.76

b. Percentage of Net Rentable Square Feet Deemed To Be New Rental Space 100.00%
B. Building Systems:
Please describe each of the following in the space provided.
Community Facilities: Outdoor terrace, community room, laundry room
Exterior Finish: Brick and hardiepanel

Heating/AC System: Ductless split system heat pump
Architectural Style: Double loaded corridor
v1.1.2011 Page 7
C. Amenities:
1. Specify the average size per unit type: (I ncluding pr o r ata shar e of heated common ar ea)
Assisted Lvg 0.00 SF 1Bdrm Eld 883.80 SF 3-Bdrm Gar 0.00 SF
1-Sty-Eff-Eld 0.00 SF 2Bdrm Eld 1,089.34 SF 4-Bdrm Gar 0.00 SF
1-Sty 1BR-Eld 737.58 SF Eff-Gar 0.00 SF 2+Sty 2BR TH 0.00 SF
1-Sty 2BR-Eld 0.00 SF 1-Bdrm Gar 0.00 SF 2+Sty 3BR TH 0.00 SF
Eff-Eld 0.00 SF 2-Bdrm Gar 0.00 SF 2+Sty 4BR TH 0.00 SF
2. Total gross usable, heated square feet for the entire project less nonresidential commercial area:
35,500.03 Documentation attached (TAB F) M andator y
(Sq. ft.)
NOTE: All developments must meet VHDA's M inimum Design and Constr uction Requir ements.
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.
3. Check the following items which apply to the proposed project:

Documentation attached (TAB F Architect Certification) M andator y
For any pr oj ect, upon completion of constr uction/r ehabilitation: (Optional Point items)
100% a(1) Percentage of 2-bedroom units that have 1.5 bathrooms
0% a(2) Percentage of 3 or more bedroom units that have 2 bathrooms
b. A community/meeting room with a minimum of 749 square feet is provided
58.38% c. Percentage of exterior walls covered by brick (excluding triangular gable ends, doors and windows)
d. All ki tchen and laundry appliances meet the EPA's Energy Star qualified program requirements
e. All windows meet the EPA's Energy Star qualified program requirements
f. Every unit in the development is heated and cooled with either (i) heat pump equipment with both a
SEER rating of 15.0 or more and a HSPF rating of 8.5 or more , or (ii) air conditioning equipment
with a SEER rating of 15.0 or more, combined with gas furnaces with an AFUE rating of 90% or
more
g. Water expense is sub-metered (the tenant will pay monthly or bi-monthly bill)
h. Each bathroom consists only of low-flow faucets (2.2 gpm max.) and showerheads (2.5gpm max.)
i. Provide necessary infrastructure in all units for high speed cable, DSL or wireless internet sevice.
j. All water heaters meet the EPA's Energy Star qualified program 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.
Expected Total Electrical Load (ki lowatt hours per month): 29,680
Percent of Expected Load Offset By Solar Electric System: 16.93%
v1.1.2011 Page 8
L ow Income Housing Tax Cr edit Application For Reser vation
For all pr oj ects exclusively ser ving elder ly and/or handicapped tenants, upon completion
of constr uction/r ehabilitation: (Optional Point items)
a. All cooking ranges will have front controls
b. All units will have an emergency call system
c. All bathrooms will have an independent or supplemental heat source
d. All entrance doors have two eye viewers, one at 48" and the other at standard height
For all r ehabilitation and adaptive r euse pr oj ects, upon completion of constr uction or
or r ehabilitation: (Optional Point items)
The structure is listed individually in the National Register of Historic Places or is

located in a registered historic district and certified by the Secretary of the Interior as
being of historical significance to the district, and the rehabilitation will be completed
in such a manner as to be eligible for historic rehabilitation tax credits
Accessibility
Check one or none of the following point categories, as appropriate:
For any non-elderly property, or any elderly rehabilitation 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 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). (50 points)
For any non-elderly property, or any elderly rehabilitation 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. (30 points)
For any non-elderly property, or any elderly rehabilitation 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. (15 points)
Ear thcr aft or L EED Development Cer tification

Applicant agrees to obtain Earthcraft or LEED certification prior to issuance of IRS Form 8609. Architect
certifies in the Architect Certification that the development's design will meet the criteria for such certification.
(15 Points)
L EED Silver Certification
Earthcraft Certification - new construction development will be 15% more energy efficient than 2004 IECC.
Earthcraft Certification - rehabilitation development will be 30% more energy efficient post-rehabilitation
(30 Points)
L EED Gold Certification

(45 Points)
L EED Platinum Certification

If seeking any points associated with LEED or Earthcraft certification, attach appropriate documentation at TAB F
Univer sal Design - Units Meeting Universal Design Standards

a. The architect of record certifies that units will be constructed to meet VHDA's Universal Design standards.
Yes No If Yes, attach appropriate documentation at TAB F
b. Number of Rental Units constructed to meet VHDA's Universal Design standards:
39 Units 100%
VHDA Cer tified Pr oper ty M anagement Agent

Owner agrees to use a VHDA Certified Property Management Agent to manage the property.
Yes No
Yes No N/A The market-rate units' amenities are substantially equivalent to those of the
low-income units. If no, explain differences:
v1.1.2011 Page 9
I V. TENANT I NFORM ATI ON
A. Set-Aside Election: UNI TS SEL ECTED BEL OW I N BOTH COL UM NS DETERM I NE

POI NTS FOR THE BONUS POI NT CATEGORY
Note: In order to qualify for any tax credits, a development must meet one of two minimum threshold occupancy tests. Either (i) at least 20%
of the units must be rent-restricted and occupied by persons whose incomes are 50% or less of the area median income adjusted for family
size (this is called the 20/50 test) or (ii) at least 40% of the units must be rent-restricted and occupied by persons whose incomes are 60% or
less of the area median income adjusted for family size (this is called the 40/60 test), all as described in Section 42 of the IRC. Rent-and
income-restricted units are known as low-income units. If you have more low-income units than required, you qualify for more credits. If you
serve lower incomes than required, you receive more points under the ranking system.
Units Pr ovided Per Household Type:

I ncome L evels Rent L evels
# of Units % of Units # of Units % of Units
0 0.00% 40% Area Median 4 10.26% 40% Area Median
0 0.00% Non-LMI Units 0 0.00% Non-LMI Units
39 100.00% Total 39 100.00% Total
B. Special Housing Needs/L easing Pr efer ence:
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. Relocation Plan Documentation attached (TAB G)
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: Richmond Redevelopment and Housing Authority
Contact person (Name and Title) Shawn Williams, Housing Choice Voucher Program Director
Phone Number 804-780-4881 Requir ed documentation attached (TAB H)
5. If leasing preference will be given to individuals and families with children.

(Less than or equal to 20% of the units must have 1 or less bedrooms).
Yes
No
v1.1.2011 Page 10
V. L OCAL NEEDS AND SUPPORT
Note: Please r efer to the Application M anual for specific instr uctions and deadlines for per taining to locality
notification of pr oposed L ow income Housing Tax Cr edit developments.
A. Pr ovi de the name and the addr ess of the chief executive officer (City M anager , Town M anager , or
County Administr ator ) of the political j ur isdiction in which the development will be located:
Chief Executive Officer's Name Byron C. Marshall
Chief Executive Officer's Title Chief Adminstrative Officer
Street Address 900 E. Broad Street, Suite 201 Phone 804-646-7978
City Richmond State VA Zip 23219
Name and title of local official you have discussed this project with who could answer questions for the
local CEO: Peter Chapman, Deputy Chief Administrative Officer of Economic and Community Development
I f the pr oper ty over laps another j ur isdiction please fill in the following:
Chief Executive Officer's Name
Chief Executive Officer's Title
Street Address Phone
City State Zip
Name and title of local official you have discussed this project with who could answer questions for the
local CEO:
B. Pr oj ect Schedule
ACTUAL OR NAM E OF
ACTI VI TY ANTI CI PATED PERSON
DATE RESPONSI BL E
Site
Option/Contract March 2011 TK Somanath
Site Acquisition November 2011 TK Somanath
Zoning Approval July 2008 Jeff Eastman
Site Plan Approval June 2011 Jeff Eastman
Financing
A. Constr uction L oan
Loan Application 5/20/11 Lee Alford
Conditional Commitment 7/20/11 Lee Alford
Firm Commitment 9/20/11 Lee Alford
B. Per manent L oan - Fir st L ien
C. Per manent L oan-Second L ien
D. Other L oans & Gr ants
Type & Source, List
Application
Award/Commitment
For mation of Owner 1/12/10 Johnson Kanady
I RS Appr oval of Nonpr ofit Status 1/03/89
Closing and Tr ansfer of Pr oper ty to Owner November 2011 Lee Alford
Plans and Specifications, Wor king Dr awings February 2011 Mark Larson
Building Per mit I ssued by L ocal Gover nment July 2011 Lee Alford
Star t Constr uction November 2011 Jeff Reynolds
Begin L ease-up September 2012 Mary Kay Huss
Complete Constr uction October 2012 Jeff Reynolds
Complete L ease-Up April 2013 Mary Kay Huss
Cr edit Placed in Ser vice Date October 2012 Lee Alford
v1.1.2011 Page 11
VI . SI TE CONTROL
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.
A. Type of Site Contr ol by Owner :
Applicant controls site by (select one and attach document - M andator y TAB K )
Deed - attached
Long-term Lease - attached (expiration date: )
Option - attached (expiration date: )
Purchase Contract - attached (expiration date: 11/04/11 )
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.
Most recent property tax assessment - M andator y TAB K
B. Timing of Acquisition by Owner :

Select one:
Owner already controls site by either deed or long-term lease or
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 11/04/11
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.
C. M ar ket Study Data:
Obtain the following information from the M ar ket Study conducted in connection with this tax credit application and enter below:
Project Wide Capture Rate - LIHTC Units 9.10%

Project Wide Capture Rate - Market Units 0.00%
Project Wide Capture Rate - All Units 9.10%
Project Wide Absorption Period (Months) 7
v1.1.2011 Page 12
C. Site Descr iption
1. Exact area of site in acres 0.972
2. Has locality approved a final site plan or plan of development?

Yes No
Requir ed documentation for m attached (TAB L )
3. Is site properly zoned for the proposed development?

Yes No
Requir ed documentation for m attached (TAB M )
4. Will the proposal seek to qualify for points associated with proxi mity to public transportation?
Yes No
Requir ed documentation for m attached (TAB A)
D. Plans and Specifications
M inimum submission r equir ements for all pr oper ties (new constr uction, r ehabilitation and adaptive r euse)
1. A location map with property clearly defined.

2. Sketch plan of the site showing overall dimensions of main building(s), major site elements
(e.g., parking lots and location of exi sting utilities, and water, sewer, electric,
gas in the streets adjacent to the site). Contour lines and elevations are not required.
3. Sketch plans of main building(s) reflecting overall dimensions of:
a. Typical floor plan(s) showing apartment types and placement
b. Ground floor plan(s) showing common areas;
c. Sketch floor plan(s) of typical dwelling unit(s);
d. Typical wall section(s) showing footing, foundation, wall and floor structure.
Notes must indicate basic materials in structure, floor and ext erior finish.
4. Requir ed documentation for r ehabilitation pr oper ties: A unit-by-unit wor k wr ite-up.
v1.1.2011 Page 13
VI I . OPERATI NG BUDGET
A. Rental Assistance
1. Do or will any low-income units receive rental assistance?
Yes No
2. If yes, indicate type of rental assistance:
Section 8 New Construction Substantial Rehabilitation

Section 8 Moderate Rehabilitation
Section 8 Certificates
Section 8 Project Based Assistance
RD 515 Rental Assistance
Section 8 Vouchers
State Assistance
Other:
3. Number of units receiving assistance: 0

Number of years in rental assistance contract: 0
Expiration date of contract:
Contract or other agreement attached (TAB Q)
B. Utilities
1. Monthly Utility Allowance Calculations
Utilities Type of Utility Utilities Enter Allowances by Bedroom Size

(Gas, Electric, Oil, etc.) Paid by: 0-bdr 1-bdr 2-bdr 3-bdr 4-br
Heating Electric Owner X Tenant 0 7 10 0 0
Air Conditioning Electric Owner X Tenant 0 5 8 0 0
Cooking Electric Owner X Tenant 0 7 9 0 0
Lighting Electric Owner X Tenant 0 39 46 0 0
Hot Water Electric Owner X Tenant 0 15 20 0 0
Water X Owner Tenant 0 0 0 0 0
Sewer X Owner Tenant 0 0 0 0 0
Trash X Owner Tenant 0 0 0 0 0
Total utility allowance for costs paid by tenant $0 $73 $93 $0 $0
2. Source of Utility Allowance Calculation (Attach Documentation TAB Q)

HUD
Utility Company (Estimate) Local PHA
Utility Company (Actual Survey) Other:
v1.1.2011 Page 14
C. Revenue
1. Indicate the estimated monthly income for the L ow-I ncome Units: **
Total Number of Total Monthly
Unit Type Tax Credit Units Rental Income
Efficiency Units 0 $0
1 Bedroom Units 29 $15,860
2 Bedroom Units 10 $6,600
3 Bedroom Units 0 $0
Total Number of Tax Credit Units 39
Plus Other Income Source (list): Laundry, Misc. Fees $150

Equals Total Monthly Income: $22,610
Twelve Months x12
Equals Annual Gross Potential Income $271,320
Less Vacancy Allowance ( 7.5% ) $20,349
Equals Annual Effective Gr oss I ncome (EGI ) - L ow I ncome Units $250,971
* * Beginning at Row 75 enter the appr opr iate data for both tax cr edit and mar ket r ate units in the yellow shaded cells.
2. Indicate the estimated monthly income for the M ar ket Rate Units: **
Total Number of Total Monthly
Unit Type Market Units Rental Income
Efficiency Units 0 $0
Total Number of Market Units 0
Plus Other Income Source (list): $0

Equals Total Monthly Income: $0
Twelve Months x12
Equals Annual Gross Potential Income $0
Less Vacancy Allowance ( 0.0% ) $0
Equals Annual Effective Gr oss I ncome (EGI ) - M ar ket Rate Units $0
Documentation in Support of Operating Budget attached (TAB R)
List number of units by type: TOTAL UNI TS
ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR

0 0 22 10 0 0
2 BD RM-GAR 3 BD RM-GAR 4 BD RM-GAR 2+Story 2 BR-TH 2+Story 3 BR-TH 2+Story 4 BR-TH

0 0 0 0 0 0
1 STY-EFF-ELD 1 STY-1 BR-ELD 1 STY-2 BR-ELD Note: Please be sur e to enter the number of units in the
0 7 0 appr opr iate unit categor y. I f not, you will find an er r or on
the scor esheet at 5a, 6a & 6b.

List number of units by type: TAX CREDI T UNI TS
ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR

0 0 22 10 0 0
2 BD RM-GAR 3 BD RM-GAR 4 BD RM-GAR 2+Story 2 BR-TH 2+Story 3 BR-TH 2+Story 4 BR-TH

0 0 0 0 0 0
1 Story-EFF-ELD 1 Story-1 BR-ELD 1 Story-2 BR-ELD

0 7 0
v1.1.2011 Page 15
Efficiency Units
Unit Type / Net Rentable Monthly Rent Total
Rent Targeting Number Units Square Feet Per Unit Monthly Rent
Efficiency - 40% 0 0.00 $ - $ -

Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -

Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -

Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Total Efficiency Total Monthly Eff.
Tax Credit Units: 0 0.00 Tax Credit Rent: $ -
Efficiency - Market 0 0.00 $ - $ -

v1.1.2011 Page 15
Total Efficiency
Market Units: 0 0.00 Total Monthly
Eff. Market Rent: $ -
Total Eff. Units: 0 Total Eff. Rent $ -
1-Bedroom Units
Net Rentable Monthly Rent Total
1 BR - 40% 4 550.05 $ 475 $ 1,900

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 - 50% 12 550.05 $ 545 $ 6,540

1 BR - 50% 2 646.57 $ 560 $ 1,120
1 BR - 50% 3 639.69 $ 560 $ 1,680
1 BR - 50% 1 682.93 $ 560 $ 560
1 BR - 50% 4 650.95 $ 580 $ 2,320
1 BR - 50% 1 648.92 $ 580 $ 580
1 BR - 50% 2 664.29 $ 580 $ 1,160
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 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 $ - $ -
v1.1.2011 1 BR - 60% 0 0.00 $ - $ - Page 15
1 BR - 60% 0 0.00 $ - $ -
Total 1-BR Total Monthly 1-BR
Tax Credit Units: 29 17,277.24 Tax Credit Rent: $ 15,860
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
Total 1-BR
1-BR Market Rent: $ -
Total 1-BR Units: 29 Total 1-BR Rent $ 15,860
2-Bedroom Units
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 - 50% 3 829.52 $ 660 $ 1,980

2 BR - 50% 3 827.55 $ 660 $ 1,980
2 BR - 50% 2 841.15 $ 660 $ 1,320
2 BR - 50% 1 852.78 $ 660 $ 660
2 BR - 50% 1 851.23 $ 660 $ 660
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
v1.1.2011 2 BR - 50% 0 0.00 $ - $ - Page 15

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 $ - $ -
Tax Credit Units: 10 8,357.52 Tax Credit Rent: $ 6,600
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
Total 2-BR
Total 2-BR Units: 10 Total 2-BR Rent $ 6,600
3-Bedroom Units
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 $ - $ -
v1.1.2011 3 BR - 40% 0 0.00 $ - $ - Page 15

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 $ - $ -
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 $ - $ -
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
Total 3-BR Units: 0 Total 3-BR Rent $ -
4-Bedroom Units
v1.1.2011 Rent Targeting Number Units Square Feet Per Unit Monthly Rent Page 15
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 $ - $ -
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 $ - $ -
v1.1.2011 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 $ - $ -
Total 4-BR
Total 4-BR Units: 0 Total 4-BR Rent $ -
Total Units 39 Net Rentable SF: TC Units 25,634.76

MKT Units 0.00
Total NR SF: 25,634.76
Floor Space Fraction 100.0000%
v1.1.2011 Page 15
D. Oper ating Expenses

Administr ative:
1. Advertising/Marketing $5,900
2. Office Salaries $0
3. Office Supplies $1,200
4. Office/Model Apartment (type______) $0
5. Management Fee $15,600
6.22% of EGI 400 Per Unit
6. Manager Salaries $12,000
7. Staff Unit (s) (type______) $0
8. Legal $600
9. Auditing $4,300
10. Bookkeeping/Accounting Fees $0
11. Telephone & Answering Service $3,170
12. Tax Credit Monitoring Fee $1,170
13. Miscellaneous Administrative $1,200
Total Administr ative $45,140
Utilities
14. Fuel Oil $0
15. Electricity $6,500
16. Water $9,243
17. Gas $0
18. Sewer $0
Total Utility $15,743
Oper ating:
19. Janitor/Cleaning Payroll $0
20. Janitor/Cleaning Supplies $240
21. Janitor/Cleaning Contract $3,000
22. Exterminating $975
23. Trash Removal $3,432
24. Security Payroll/Contract $3,200
25. Grounds Payroll $0
26. Grounds Supplies $480
27. Grounds Contract $6,000
28. Maintenance/Repairs Payroll $17,000
29. Repairs/Material $5,850
30. Repairs Contract $0
31. Elevator Maintenance/Contract $3,000
32. Heating/Cooling Repairs & Maintenance $975
33. Pool Maintenance/Contract/Staff $0
34. Snow Removal $1,200
35. Decorating/Payroll/Contract $4,800
36. Decorating Supplies $663
37. Miscellaneous $1,760
Oper ating & M aintenance Totals $52,575
Taxes & I nsur ance
38. Real Estate Taxes $20,592
39. Payroll Taxes $2,320
40. Miscellaneous Taxes/Licenses/Permits $0
41. Property & Liability Insurance $8,500
42. Fidelity Bond $0
43. Workman's Compensation $681
44. Health Insurance & Employee Benefits $5,510
45. Other Insurance $0
Total Taxes & I nsur ance $37,603
6544
Total Oper ating Expense $151,061
D1. Total Oper. Ex. Per Unit $3,873 D2. Total Oper. Ex. As % EGI (from E3) 60.19%
Replacement Reser ves (Total # Units X $300 or $250 New Const. Elderly Minimum) $11,700
Total Expenses $162,761
v1.1.2011 Page 16
E. Cash Flow (Fir st Year )

1. Annual EGI Low-Income Units from (C1) $250,971
2. Annual EGI Market Units (from C2) + $0
3. Total Effective Gross Income = $250,971
4. Total Expenses (from D) $162,761
5. Net Operating Income = $88,210
6. Total Annual Debt Service (from Page 21 B2) - $76,284
7. Cash Flow Available for Distribution = $11,926
F. Pr oj ections for Financial Feasibility - 15 Year Pr oj ections of Cash Flow
Stabilized
Year 1 Year 2 Year 3 Year 4 Year 5
Eff. Gr oss I ncome 250,971 255,990 261,110 266,332 271,659
L ess Oper . Expenses 162,761 168,051 173,512 179,152 184,974
Net I ncome 88,210 87,940 87,598 87,181 86,685
L ess Debt Ser vi ce 76,284 76,284 76,284 76,284 76,284
Cash Flow 11,926 11,656 11,314 10,897 10,401
Debt Cover age Ratio 1.16 1.15 1.15 1.14 1.14

Eff. Gr oss I ncome 277,092 282,634 288,287 294,053 299,934
Net I ncome 86,107 85,441 84,685 83,834 82,883
Cash Flow 9,823 9,157 8,401 7,550 6,599

Eff. Gr oss I ncome 305,932 312,051 318,292 324,658 331,151
Net I ncome 81,828 80,663 79,384 77,985 76,461
Cash Flow 5,544 4,379 3,100 1,701 177
Estimated Annual Percentage Increase in Revenue 2.00% (Must be < 2%)
Estimated Annual Percentage Increase in Expenses 3.25% (Must be > 3%)
v1.1.2011 Page 17
VI I I . PROJECT BUDGET
A. Cost/Basis/M aximum Allowable Cr edit
Complete cost column and basis column(s) as appropriate through A12. Check if the following
documentation is attached at TAB S:
Executed Construction Contract
Executed Trade Payment Breakdown
Appraisal
Other Cost Documentation
Environmental Studies
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.
Amount of Cost up to 100% Includable in

Eligible Basis--Use Applicable Column(s):
"30% Present Value Credit" (D)
Item (A) Cost (B) Acquisition (C) Rehab/ "70 % Present
New Construction Value Credit"
1. Contr actor Cost
A. Off-Site Improvements 0 0 0 0
B. Site Work 325,000 0 0 227,500
C. Geothermal System 0 0 0 0
D. Unit Structures (New) 2,825,901 0 0 2,825,901
E. Unit Structures (Rehab) 0 0 0 0
F. Solar Electric System 368,584 0 0 368,584
G. Asbestos Removal 0 0 0 0
H. Demolition 40,000 0 0 40,000
I. Commercial Space Costs 0 0 0 0
J. Structured Parking Garage 0 0 0 0
K. Subtotal A: (Sum 1A..1J) 3,559,485 0 0 3,461,985
L. General Requirements 129,405 0 0 129,405
M. Builder's Overhead 48,000 0 0 48,000
( 1.3% Contract)
N. Builder's Profit 175,000 0 0 175,000
( 4.9% Contract)
O. Bonding Fee 35,595 0 0 35,595
P. Other 0 0 0 0
Q. Contractor Cost
Subtotal (Sum 1K..1P) $3,947,485 $0 $0 $3,849,985
2. Owner Costs
A. Building Permit 20,000 0 0 20,000
B. Arch./Engin. Design Fee 44,400 0 0 44,400
( 1,138 /Unit)
C. Arch. Supervision Fee 45,600 0 0 45,600
( 1,169 /Unit)
D. Tap Fees 35,000 0 0 35,000
E. Soil Borings 5,000 0 0 5,000
v1.1.2011 Page 18

2. Owner Costs Continued
F. Construction Loan 33,900 0 0 33,900

Origination Fee
G. Construction Interest 71,129 0 0 71,129
( 4.8% for 10 months)
H. Taxes During Construction 23,000 0 0 23,000
I. Insurance During Construction 23,000 0 0 23,000
J. Cost Certification Fee 6,000 0 0 6,000
K. Title and Recording 32,000 0 0 32,000
L. Legal Fees for Closing 62,000 0 0 31,000
M. Permanent Loan Fee 4,750 0 0 0
( 0.5% )
N. Other Permanent Loan Fees 3,525 0 0 0
O. Credit Enhancement 0 0 0 0
P. Mortgage Banker 0 0 0 0
Q. Environmental Study 2,500 0 0 0
R. Structural/Mechanical Study 0 0 0 0
S. Appraisal Fee 5,500 0 0 0
T. Market Study 3,000 0 0 3,000
U. Operating Reserve 119,522 0 0 0
V. Tax Credit Fee 26,726 0 0 0
W. OTHER $111,000 $0 $0 $96,000
(SEE PAGE 19A)
X. Owner Cost
Subtotal (Sum 2A..2W) $677,552 $0 $0 $469,029
Subtotal 1 + 2 $4,625,037 $0 $0 $4,319,014

(Owner + Contractor Costs)
3. Developer 's Fees 250,000 0 0 250,000
4. Owner 's Acquisition Costs

Land 300,000
Existing Improvements 0 0
Subtotal 4: $300,000 $0
5. Total Development Costs

Subtotal 1+2+3+4: $5,175,037 $0 $0 $4,569,014
I f this application seeks r ehab cr edits only, in which ther e is no acquisition and no change in owner ship, enter the gr eater of
appr aised value or tax assessment value her e: $0 L and
(Attach documentation at Tab K ) $0 Building
1.1.2011 Page 19

W. OTHER OWNER COSTS
Contingency Reserve 0 0 0 0
(Rehab or Adaptive Reuse only)
L I ST ADDI TI ONAL I TEM S
Surveys and Reports 12,000 0 0 12,000
Zoning Costs 5,000 0 0 0
Soft Cost Contingency 15,000 0 0 7,500
0 0 0 0
FFE 30,000 0 0 30,000
Misc. Soft Costs 5,000 0 0 2,500
Earthcraft 14,000 0 0 14,000
Dominion VA Fee 20,000 0 0 20,000
Cable/Phone Utility Fee 10,000 0 0 10,000
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
Subtotal (Other Owner Costs) $111,000 $0 $0 $96,000
v1.1.2011 Page 19A


"30 % Present Value Credit"
(C) Rehab/ (D)
New "70 % Present
Item (A) Cost (B) Acquisition Construction Value Credit"
5. Total Development Costs
Subtotal 1+2+3+4 5,175,037 0 0 4,569,014
6. Reductions in Eligible Basis
Subtract the following:

A. Amount of federal grant(s) used to finance 0 0 55,288
qualifying development costs
B. Amount of nonqualified, nonrecourse financing 0 0 0
C. Costs of nonqualifying units of higher quality 0 0 0

(or excess portion thereof)
D. Historic Tax Credit (residential portion) 0 0 0
7. Total Eligible Basis (5 minus 6 above) 0 0 4,513,726
8. Adj ustment(s) to Eligible Basis (For non-acquisition costs in eligible basis)

(i) For QCT or DDA (Eligible Basis x 30%) 0 1,354,118
(ii) For Earthcraft or LEED Certification 0
Total Adj usted Eligible basis 0 5,867,844
9. Applicable Fr action 100.0000% 100.0000% 100.0000%
10. Total Qualified Basis (Same as Par t I X-C) 0 0 5,867,844

(Eligible Basis x Applicable Fraction)
11. Applicable Per centage 0.00% 0.00% 9.00%

(For 2011 9% competitive credits, use the March 2011 applicable percentages for acq.)
(For 9% non-competitive & tax exempt bonds, use the most recently published rates)
12. M aximum Allowable Cr edit under I RC §42 $0 $0 $528,106

(Qualified Basis x Applicable Percentage)
(Same as Part IX-C and equal to or more than $528,106
credit amount requested) Combined 30% & 70% P. V. Credit
v1.1.2011 Page 20
B. Sour ces of Funds
1. Constr uction Financing: List individually the sources of construction financing, including any such
loans financed through grant sources:
Date of Date of Amount of

Source of Funds Application Commitment Funds Name of Contact Person
1. Bank of America $3,390,000 Priya Jayachandran
2. $0
3. $0
Commitments or letter(s) of intent attached (TAB T)
2. Per manent Financing: List individually the sources of all permanent financing in order of lien position:
Interest Amor tization Term

Date of Date of Amount of Annual Debt Rate of Per iod of
Source of Funds Application Commitment Funds Service Cost Loan I N YEARS Loan (years)
1. VHDA (REACH) $950,000 $56,081 4.25% 30 30
2. VHDA Taxable $235,000 $20,203 7.75% 30 30
3. $0 $0 0.00% 1000 0
4. $0 $0 0.00% 1000 0
5. $0 $0 0.00% 1000 0
6. $0 $0 0.00% 1000 0
Totals: $1,185,000 $76,284
3. Gr ants: List all grants provided for the development:
Date of Date of Amount of

Source of Funds Application Commitment Funds Name of Contact Person
1. HOM E 01/14/11 $250,000 Bill Martin, City of Richmond
2. Renewable Energy Grant $110,575 Section 48 of the IRC
3. Private fundraising by sponsor $240,000
4.
5.
6.
Total Permanent Grants: $600,575

v1.1.2011 Page 21
4. Portion of Syndication Proceeds Attributable to Historic Tax Credit

Amount of Federal historic credits $0 x Equity % $0.00 $0
Amount of Virginia historic credits $0 x Equity % $0.00 $0
6. Equity that Sponsor will Fund:

Cash Investment $0
Contributed Land/Building $0 Assessment Attached (TAB S)
Deferred Developer Fee $50,000
Other: $0
Equity Total $50,000
7. Total of All Sources (B2 + B3 + B4 + B5 + B6) $1,835,575
(not including syndication proceeds except for historic tax credits)
8. Total Development Cost $5,175,037

(From VIII-A5)
9. Less Total Sources of Funds (From B7 above) $1,835,575
10. Equals equity gap to be funded with low-income tax credit

proceeds (must equal IX-D3) $3,339,462
C. Syndication I nfor mation (I f Applicable)
1. Actual or Anticipated Name of Syndicator Bank of America Merrill Lynch

2. Contact Person Priya Jayachandran Phone 202-442-7530
3. Street Address 730 15th Street, NW
City Washington State DC Zip 20005
4. a. Total to be paid by anticipated users of credit (e.g., limited partners) $3,339,458

b. Equity Dollars Per Credit (e.g., $0.85 per dollar of credit) $0.90
c. Percent of ownership entity (e.g., 99% or 99.9%) 99.99%
d. Net credit amount anticipated by user of credits $371,051
e. Syndication costs not included in VIII-A5 (e.g., advisory fees) $0
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) $3,339,458
6. Amount of annual credit required for above amounts

(same amount as Part IX-D6) $371,088
7. Net Equity Factor [C5 / (C6 X 10)]
(same amount as Part IX-D4) 89.99%
8. Syndication: Public or Private

9. Investors: Individual or Corporate
v1.1.2011 Page 22
D. Recap of Feder al, State, and L ocal Funds/Any Cr edit Enhancements
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.
Below-Market Loans Market-Rate Loans
Tax Exempt Bonds $0 Taxable Bonds $235,000

RD 515 $0 Section 220 $0
Section 221(d)(3) $0 Section 221(d)(3) $0
Section 312 $0 Section 221(d)(4) $0
Section 236 $0 Section 236 $0
VHDA SPARC/REACH $950,000 Section 223(f) $0
HOME Funds $0 Other: $0
Other: $0
Other: $0
Grants Grants
CDBG $0 State $0
UDAG $0 Local $250,000
Other: Renewable Ener g $350,575
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)
Source of Funds Commitment date Funds

1. HOME Funds 01/14/11 $250,000
2.
3. $0
4. $0
5. $0
3. Does any of your financing have any credit enhancement? Yes No

If yes, list which financing and describe the credit enhancement:
4. Other Subsidies Documentation Attached (TAB Q)

Real Estate Tax Abatement on the increase in the value of the development.
New project based subsidy from HUD or Rural Development for the greater of 5 or 10% of the units in the development.
Other Subsidies
5. Is HUD approval for transfer of physical asset required?

Yes No
E. For Tr ansactions Using Tax-Exempt Bonds Seeking 4% Cr edits:

For purposes of the 50% Test, and based only on the data entered to this
application, the portion of the aggregate basis of buildings and land financed with
tax-exempt funds is: N/A
v1.1.2011 Page 23
I X. ADDI TI ONAL I NFORM ATI ON
A. Extended Use Restr iction
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.
B. Nonpr ofit/L ocal Housing Author ity Pur chase Option/Right of Fir st Refusal
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
or the right of first refusal to acquire the development for a price not to exceed the outstanding
debt and exit taxes. Do not select if extended compliance is selected in IX.A above.
Option or Right of Fir st Refusal in Recor dable For m Attached (TAB V)

Enter name of qualified nonpr ofit: Better Housing Coalition
2. A qualified nonprofit or local housing authority submits a homeownership plan committing to

sell the units in the development after the mandatory 15-year compliance period to tenants whose
incomes shall not exceed the applicable income limit at the time of their initial occupancy.
Do not select if extended compliance is selected in IX.A above.
Homeowner ship Plan Attached (TAB J)
v1.1.2011 Page 24
C. Building-by-Building I nfor mation M ust Complete

Qualified basis must be determined on a building-by building basis. Complete the section below. Building street addresses are required by the IRS (must have them by the time of
allocation request).
NUMBER 30% Present Value 30% Present Value

OF Credit for Acquisition Credit for Construction 70% Present Value Credit
TAX MARKET
CREDIT RATE Actual or Actual or Actual or
UNITS UNITS Estimate Anticipated Estimate Anticipated Estimate Anticipated
Build Street Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit
ing # Address Basis Date Percentage Amount Basis Date Percentage Amount Basis Date Percentage Amount
1. 32 0 1208 N 28th Street $0 0.00% 0 $0 0.00% 0 $4,814,641 11/01/12 9.00% 433,318
2. 7 0 1209 N 28th Street $0 0.00% 0 $0 0.00% 0 $1,053,203 06/01/12 9.00% 94,788
3. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
4. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
5. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
6. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
7. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
8. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
9. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
10. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
11. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
12. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
13. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
14. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
15. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
16. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $5,867,844
$0 $0 $528,106
Qualified Basis Totals (must agree with VIII-A10)
Credit Amount Totals (must agree with VIII-A-12)
v1.1.2011 Page 25


TAX MARKET
17. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
18. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
19. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
20. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
21. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
22. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
23. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
24. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
25. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
26. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
27. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
28. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
29. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
30. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
31. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
32. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v1.1.2011 Page 25 (2)



TAX MARKET
33. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
34. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
35. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
36. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
37. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
38. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
39. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
40. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
41. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
42. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
43. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
44. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
45. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
46. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
47. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
48. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v1.1.2011 Page 25 (3)



TAX MARKET
49. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
50. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
51. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
52. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
53. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
54. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
55. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
56. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
57. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
58. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
59. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
60. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
61. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
62. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
63. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
64. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v1.1.2011 Page 25 (3)



TAX MARKET
65. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
66. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
67. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
68. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
69. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
70. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
71. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
72. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
73. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
74. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
75. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
76. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
77. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
78. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
79. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
80. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v1.1.2011 Page 25 (3)



TAX MARKET
81. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
82. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
83. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
84. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
85. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
86. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
87. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
88. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
89. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
90. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
91. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
92. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
93. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
94. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
95. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
96. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v1.1.2011 Page 25 (3)

D. Deter mination of Reser vation Amount Needed
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.
1. Total Development Costs (from VIII-A5, Column A page 20) $5,175,037
2. Less Total Sources of Funds (from VIII-B7 page 22) $1,835,575
3. Equals Equity Gap $3,339,462
4. Divided by Net Equity Factor (VIII-C7 page 22) 89.99%

(Percent of 10-year credit expected to be raised as equity investment)
5. Equals Ten-Year Credit Amount Needed to Fund Gap $3,710,884
Divided by ten years 10
6. Equals Annual Tax Credit Required to Fund the Equity Gap $371,088
7. The Maximum Allowable Credit Amount $528,106

(from VIII-A12-combined figure)
(This amount must be equal to or more than 6 above)
8. Reservation Amount (Lesser of 6 or 7 above)

Credit per Unit 9,515 Combined 30% & 70% PV Credit
Credit per Bedroom 7,573 $371,088

Comprised of
$0 and $371,088
30% PV Credit 70% PV Credit
(Based on same relative percentages as VIII-A12)
E. Attor ney’ s Opinion Goal Seek Function

Attached in M andator y TAB W ) If you incur the error message that your reservation amount is not equal
to the equity gap amount you may use the goal seek function within the Excel
spreadsheet to eliminate the error message. To use the “Goal Seek” function first
place the curser box on cell V28. Using the mouse arrow, point and click on
“Tools” on the top line and then click on the “Goal Seek” option. A box will
appear with the V28 cell shown in the top space, place the cursor in the middle
box and type in the new amount that you want the equity gap to be which should
be the reservation amount below, then place the cursor in the bottom space and at
the bottom of the page click on page 22. Then place the cursor on cell N15
(Deferred Developer Fee) and click on “OK”. A message should then appear that
a solution has been found and if the amount is correct click “OK”. If the amounts
are now equal the error message will disappear.
v1.1.2011 Page 26
F. Statement of Owner
The undersigned hereby acknowledges the following:
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.
v1.1.2011 Page 27
2011 LIHTC SELF SCORE SHEET:
Self Scoring Process
This worksheet is intended to provide you with an estimate of your application score based on the selection criteria described in the
QAP. Most of the data used in the scoring process is automatically entered below as you fill in the application. Other items,
denoted below in the green shaded cells, are items that are typically evaluated by VHDA’s staff during the application review and
feasibility analysis. For purposes of self scoring, it will be necessary for you to make certain decisions and assumptions about your
application and enter the appropriate responses in the green shaded cells of this score sheet. All but two require yes/no responses,
in which case enter Y or N as appropriate. Item 2b pertaining to the Local CEO Letter will require one of the following responses: Y
– the letter indicates unconditional support; N – the letter indicates opposition to the project; NC – no comment from the locality, or
any other response which is neither unconditional support nor opposition. Item 5e1 requires a numeric value to be entered. Please
remember that the score is only an estimate based on the selection criteria using the reservation application data and the
responses you’ve entered on this score sheet. VHDA reserves the right to change application data and/or score sheet responses
where appropriate, which may change the final score.
MANDATORY ITEMS: Score

a. Signed, completed application Y Y or N 0
b. Duplicate copy of application Y Y or N 0
c. Partnership agreement Y Y or N 0
d. SCC Certification Y Y or N 0
e. Previous participation form Y Y or N 0
f. Site control document Y Y or N 0
g. Architect's Certification Y Y or N 0
h. Attorney's opinion Y Y or N 0
i. Nonprofit questionnaire (if NP) Y Y, N, N/A 0
0.00
1. READINESS:
a. Plan of development N 0 or 40 0.00
b. Zoning approval Y 0 or 40 40.00
Total: 40.00
2. HOUSING NEEDS CHARACTERISTICS:

a. VHDA notification letter to CEO Y 0 or -50 0.00
b. Local CEO letter (Y,NC,N) y 0 or 25 or 50 50.00
c. Location in a revitalization area Y 0 or 30 30.00
d. Location in a Qualified Census Tract and revitalization area Y 0 or 5 5.00
e. Sec 8 or PHA waiting list preference Y 0 or 10 10.00
f. Subsidized funding commitments 4.83% Up to 40 9.66
g. Existing RD, HUD Section 8 or 236 program N 0 or 20 0.00
h. Tax abatement or new project based rental subsidy (HUD or RD) N 0 or 10 0.00
i. Census tract with <10% poverty rate, no tax credit units N 0 or 25 0.00
j. Development listed on the Rural Development Rehab Priority List N 0 or 15 0.00
k. Dev. located in area with little or no increase in rent burdened population Up to -20 0.00
l. Dev. located in area with increasing rent burdened population Up to 20 0.00
Total 104.66
3. DEVELOPMENT CHARACTERISTICS:
a. Unit size (See calculations below) Up to 100 98.51
b. Amenities (See calculations below) Up to 70 70.00
c. Project subsidies/HUD 504 accessibility for 5 or 10% of units N 0 or 50 0.00
or d. HCV payment standard/HUD 504 accessibility for 5 or 10% of units N 0 or 30 0.00
or e. HUD 504 accessibility for 4% of units N 0 or 15 0.00
f. Proximity to public transportation Y10 0, 10 or 20 10.00
g. Development will be Earthcraft or LEED certified 0,15,30,45 45.00
h. VHDA Certified Property Management Agent Y 0 or 25 25.00
i. Units constructed to meet VHDA's Universal Design standards 100% Up to 15 15.00
j. Developments with less than 100 units Up to 20 20.00
Total 283.51
4. TENANT POPULATION CHARACTERISTICS:

a. <= 20% of units having 1 or less bedrooms Y 0 or 15 0.00
b. Percent of units with 3 or more bedrooms 0.00% Up to 15 0.00
v1.1.2011
Total 0.00
5. SPONSOR CHARACTERISTICS:
a. Developer experience - 3 developments with 3 x units or 6 developments with 1 x units y 0 or 50 50.00
or b. Developer experience - 1 development with 1 x units N 0 or 10 0.00
c. Developer experience - uncorrected hazard N 0 or -50 0.00
d. Developer experience - noncompliance Enter Total Negative N 0 or -15 0.00
e1. Developer experience - did not build as represented Points Here: 0 0 or -x 0.00
e2. Developer experience - termination of credits by VHDA N 0 or -10 0.00
f. Management company rated unsatisfactory N 0 or -25 0.00
Total 50.00
6. EFFICIENT USE OF RESOURCES:

a. Credit per unit If #N/A or #REF! appears in the score column of these point Up to 180 73.05
b. Cost per unit categories check spelling of Clerk's Office on pg 1. It must match Up to 75 30.52
Total exactly with the Jurisdiction names listed in the Application Manual. 103.58
7. BONUS POINTS: Locality AMI State AMI

a. Units with rents at or below 40% of AMI $73,900 $53,300 10% Up to 10 10.00
b. Units with rent and income at or below 50% of AMI 100% Up to 50 50.00
or c. Units with rents at or below 50% rented to tenants at or below 60% of AMI 100% Up to 25 0.00
or d. Units in Low Income Jurisdictions with rents <= 50% rented to tenants with <= 60% of AMI 100% Up to 50 0.00
e. Extended compliance 0 Years 40 or 50 0.00
or f. Nonprofit or LHA purchase option Y 0 or 60 60.00
or g. Nonprofit or LHA Home Ownership option N 0 or 5 0.00
Total 120.00
500 Point Threshold - 9% Credits TOTAL SCORE: 701.75

475 Point Threshold - Tax Exempt Bond Credits
Unit Size Calculations:

E-AS LVG E-EFF E-1 BDRM E-2 BDRM
High Sq.Ft. / BDRM 0 0 825 1,075
Low Sq.Ft. / BDRM 0 0 660 860
Project Sq.Ft. / BDRM 0 0 884 1,089
Percentage of Units 0.00% 0.00% 56.41% 25.64%
Points per Bedroom 0.00 0.00 56.41 25.64
F-EFF-G F-1 BDRM-G F-2 BDRM-G F-3 BDRM-G

High Sq.Ft. / BDRM 0 0 0 0
Low Sq.Ft. / BDRM 0 0 0 0
Project Sq.Ft. / BDRM 0 0 0 0
F-4 BDRM-G F-2 BDRM-TH F-3 BDRM-TH F-4 BDRM-TH

High Sq.Ft. / BDRM 0 0 0 0
Low Sq.Ft. / BDRM 0 0 0 0
Project Sq.Ft. / BDRM 0 0 0 0
1 ST ELD-EFF 1 ST ELD-1 BDRM 1 ST ELD-2 BDRM If you do not receive a numeric point
High Sq.Ft. / BDRM 0 750 0 in the unit size calculations, pleas
Low Sq.Ft. / BDRM 0 600 0 check the values entered on page
Project Sq.Ft. / BDRM 0 738 0 These must be whole number num
Percentage of Units 0.00% 17.95% 0.00% values only. Also check page 7, it
Points per Bedroom 0.00 16.46 0.00 the number of units must be eithe
adapt or rehab only. Combination
Total Unit Size Points: 98.51 not calculate correctly.
Amenities:
All units have:
a. 1.5 or 2 Bathrooms 100.00% 15.00
v1.1.2011 b. Community Room 5.00
c. Brick Walls 58.38% 11.68
d. Kitchen/Laundry Appl-Energy Star 5.00
e. Windows-Energy Star 5.00
f. Heat/AC-SEER-AFUE 10.00
g. Sub-metered water expense 0.00
h. Low flow faucets & showerheads 3.00
i. High speed cable, DSL, wireless internet 1.00
j. Water heaters meet EPA Energy Star requirements 0.00
k. Geothermal Heat Pump - EPA Energy Star requirements 0.00
l. Solar Electric System - EPA Energy Star requirements 8.47
Total 64.14
All elderly units have:
a. Front-control ranges 1.00
b. Emergency call system 3.00
c. Independent/suppl. heat source 1.00
d. Two eye viewers 1.00
Total 6.00
All rehab or adaptive reuse units:

b. Historic structure 0.00
Total amenities: 70.14
v1.1.2011
$/SF = $122.59 Credits/SF = $9.52 Const $/unit = $91,767
TYPE OF PROJECT FAMILY = 11000; ELDERLY = 12000 12000 If an ERROR message appears here check
LOCATION BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR=600 300 spelling of Clerk's Office on pg 1. It must 300
TYPE OF CONSTRUCTION N C=1; ADPT=2;REHAB(35,000+)=3; REHAB*(15,000-35,000)=4 1 match exactly with the Jurisdiction names 1
*REHABS LOCATED IN BELTWAY ($15,000-$50,000) See Below listed in the Application Manual.
ELDERLY
AS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 ST
AVG UNIT SIZE 0 0 884 1,089 0 738 0
NUMBER OF UNITS 0 0 22 10 0 7 0
PARAMETER-(COSTS=>35,000) 0 0 179,372 233,727 0 153,418 0

PARAMETER-(COSTS<35,000) 0 0 0 0 0 0 0
PARAMETER-(COSTS=>50,000) 0 0 179,372 233,727 0 153,418 0

PARAMETER-(COSTS<50,000) 0 0 0 0 0 0 0
COST PARAMETER 0 0 179,372 233,727 0 153,418 0

PROJECT COST PER UNIT 0 0 108,345 133,542 0 90,420 0
PARAMETER-(CREDITS=>35,000) 0 0 13,542 17,646 0 13,545 0

PARAMETER-(CREDITS<35,000) 0 0 0 0 0 0 0

CREDIT PARAMETER 0 0 13,542 17,646 0 13,545 0

PROJECT CREDIT PER UNIT 0 0 8,413 10,369 0 7,021 0
COST PER UNIT POINTS 0.00 0.00 16.75 8.24 0.00 5.53 0.00
CREDIT PER UNIT POINTS 0.00 0.00 38.46 19.03 0.00 15.56 0.00
FAMILY
EFF-G 1 BR-G 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH
AVG UNIT SIZE 0 0 0 0 0 0 0 0
NUMBER OF UNITS 0 0 0 0 0 0 0 0
PARAMETER-(COSTS=>35,000) 0 0 0 0 0 0 0 0
PARAMETER-(COSTS<35,000) 0 0 0 0 0 0 0 0
PARAMETER-(COSTS=>50,000) 0 0 0 0 0 0 0 0
PARAMETER-(COSTS<50,000) 0 0 0 0 0 0 0 0
COST PARAMETER 0 0 0 0 0 0 0 0
PROJECT COST PER UNIT 0 0 0 0 0 0 0 0
PARAMETER-(CREDITS=>35,000) 0 0 0 0 0 0 0 0
PARAMETER-(CREDITS<35,000) 0 0 0 0 0 0 0 0
CREDIT PARAMETER 0 0 0 0 0 0 0 0
PROJECT CREDIT PER UNIT 0 0 0 0 0 0 0 0
COST PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL COST PER UNIT POINTS 30.52
TOTAL CREDIT PER UNIT POINTS 73.05
v1.1.2011
$/SF = $122.59 Credits/SF = $10.45 Const $/unit = $91,767
TYPE OF PROJECT FAMILY = 11000; ELDERLY = 12000 12000 If an ERROR message appears here check
LOCATION BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR=600 300 spelling of Clerk's Office on pg 1. It must 300
TYPE OF CONSTRUCTION N C=1; ADPT=2;REHAB(35,000+)=3; REHAB*(10,000-35,000)=4 1 match exactly with the Jurisdiction names 1
*REHABS LOCATED IN BELTWAY ($10,000-$50,000) See Below listed in the Application Manual.
ELDERLY
AS LVG EFF-E 1 BR-E 2 BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 ST
AVG UNIT SIZE 0 0 884 1,089 0 738 0
NUMBER OF UNITS 0 0 22 10 0 7 0
PARAMETER-(COSTS=>35,000) 0 0 179,372 233,727 0 153,418 0

PARAMETER-(COSTS<35,000) 0 0 0 0 0 0 0
PARAMETER-(COSTS=>50,000) 0 0 179,372 233,727 0 153,418 0

PARAMETER-(COSTS<50,000) 0 0 0 0 0 0 0
COST PARAMETER 0 0 179,372 233,727 0 153,418 0

PROJECT COST PER UNIT 0 0 108,345 133,542 0 90,420 0


CREDIT PARAMETER 0 0 13,542 17,646 0 13,545 0

PROJECT CREDIT PER UNIT 0 0 9,239 11,387 0 7,710 0
COST PER UNIT POINTS 0.00 0.00 16.75 8.24 0.00 5.53 0.00
CREDIT PER UNIT POINTS 0.00 0.00 32.27 16.37 0.00 13.92 0.00
FAMILY
EFF-G 1 BR-G 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH
AVG UNIT SIZE 0 0 0 0 0 0 0 0
NUMBER OF UNITS 0 0 0 0 0 0 0 0
PARAMETER-(COSTS=>35,000) 0 0 0 0 0 0 0 0
PARAMETER-(COSTS<35,000) 0 0 0 0 0 0 0 0
PARAMETER-(COSTS=>50,000) 0 0 0 0 0 0 0 0
PARAMETER-(COSTS<50,000) 0 0 0 0 0 0 0 0
COST PARAMETER 0 0 0 0 0 0 0 0
PROJECT COST PER UNIT 0 0 0 0 0 0 0 0
CREDIT PARAMETER 0 0 0 0 0 0 0 0
PROJECT CREDIT PER UNIT 0 0 0 0 0 0 0 0
COST PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL COST PER UNIT POINTS 30.52
TOTAL CREDIT PER UNIT POINTS 62.56
v1.1.2011
28th Street Senior Apartments
1208 N. 28th Street Richmond, Virginia 23223
N
Better Housing Coalition
AFFILIATE NONPROFIT ENTITIES
(Non-Tax Credit)
Affordable
Richmond
Residences in Affordable Residences Richmond BHC Management
Urban Senior
Chesterfield in Chesterfield, II Affordable Housing Company
Housing, Inc.
NAME OF OWNER ARC ARC II RAH BHCM
RUSHI
Non-Profit Non-Profit Non-Profit Non-Profit
Non-Profit
501c3 501c3 501c3 501c4
501c3
8 homes completed
NAME OF SPONSOR BHC Sponsor BHC Sponsor BHC Sponsor Cary 2000 Future homeownership Management Corporation
opportunities planned
240 Townhouses All BHC sponsored rental

82 Units 71 Units 72 homes completed
NUMBER OF UNITS 13,000 s.f. East End Transformation developments
Senior Senior between 2000-2005
Childcare Center (see attached multifamily chart)
Rockwood Village Monarch Woods 45 houses

NAME OF PROJECT Winchester Greens
Age 62+ Age 62+ proposed 2006-2007
Price Club Blvd. off Jeff. Davis Hwy. Jahnke & German Winchester Greens
LOCATION
Chesterfield Chesterfield School Rds. Single Family
Bank
Winchester Greens
STATUS Occupied Occupied Occupied Offices
Commercial
Retail
HUD Grant
BHI
PROGRAM HUD Section 202 501(c)(3) Bonds HUD Section 202 PAD South, Managing Member
(General Contracting)
CDBG
Winchester Greens
Rockwood Resident Council Jahnke Road
COMMUNITY RAH, owner of
Resident Advisory Jeff. Davis Hwy. Community
PARTNERS 100% of PAD South stock
Council Business Council Development Assoc.
Bensley Civic Assoc.
Winchester Commons, LLC

Winchester Commons, II, LLC
Winchester Commons, III. LLC
Better Housing Coalition Documentation of Experience
Development Owner # Units
1. Market Square Phase II Market Square Elderly Housing Phase II, L.P. 42
PAD Chesterfield II, General Partner

100% of Stock of PAD Chesterfield II Owned by BHC
2. Market Square Phase III Market Square Elderly Housing Phase III, L.L.C. 69
PAD Chesterfield III, Managing Member

100% of Stock of PAD Chesterfield Owned by BHC
3. Carter Woods Nine Mile Road, L.L.C. 80
PAD Henrico, Managing Member

100% of Stock of PAD Henrico Owned by BHC
4. Carter Woods II Nine Mile Road, L.L.C. II 72
PAD Henrico II, Managing Member

100% of Stock of PAD Henrico II Owned by BHC
5. Randolph Place Apts. 300 Randolph Street, LLC 50
PAD Randolph Inc., Managing Member

100% of Stock of PAD Randolph Owned by BHC
6. Lincoln Mews Phase I 4101 North Avenue LLC 115
PAD VII Inc, Managing Member

100% of Stock of PAD VII Owned by BHC
TOTAL NUMBER OF UNITS Documented with 8609’s 428
MINIMUM Number Required to Document Maximum Experience Points 117

28th ST Seniors

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INSTRUCTIONS FOR THE

VIRGINIA 2011 LIHTC APPLICATION FOR RESERVATION

An electronic copy of your completed application is a mandatory submission item.

Applications For 9% Competitive Credits

Staff email addresses:

Application For Reser vation

Deadline for Submission

Tax Exempt Bonds

Virginia Housing Development Authority

Electronic Copy of the Microsoft Excel Based Application (M ANDATORY)

v1.1.2011 Submission Checklist

VHDA TRACK I NG NUM BER 2011-C-49

A. Development Name and L ocation:

6. Census Tract the development is located in: 207

14. Congressional District 3 http://dlsgis.state.va.us/congress/2001PDFs/chap7Tab.pdf

Planning District 15 http://www.vapdc.org/aboutpdcs.htm#PDC%20Map

State Senate District 16 http://dlsgis.state.va.us/senate/2001PDFs/Chap2Tab.pdf

State House District 70 http://dlsgis.state.va.us/House/2001HousePDFs/Chap1Tab.pdf

15. Location Map Attached (TAB A)

B. Pr oj ect Descr iption:

C. Reser vation Request

2. Credits requested from:

Tax Exempt Bonds

acquisition and rehabilitation.

This development will receive federal subsidies for:

D. Type(s) of Allocation/Allocation Year

All of the buildings in the development are expected to be placed

All of the buildings in the development are expected to be placed

E. Acquisition Cr edit I nfor mation

Ten-Year Rule For Acquisition Cr edits

F. Rehabilitation Cr edit I nfor mation

M inimum Expenditur e Requir ements

G. Request For Exception

I I . OWNERSHI P I NFORM ATI ON

Must be an individual or legally formed entity

A. Owner I nfor mation:

Federal I. D. No. (If not available, obtain prior to Allocation)

Principals' Previous Participation Certification attached (M andator y TAB D) & resumé.

B. Seller I nfor mation:

Principal(s) involved (e.g. general partners, controlling shareholders, etc.)

C. Development Team I nfor mation:

1. Tax Attorney: Johnson Kanady Related Entity? Yes No

2. Tax Accountant: Gary Romer Related Entity? Yes No

3. Consultant: Related Entity? Yes No

4. Management Entity (Contact): Mary Kay Huss Related Entity? Yes No

5. Contractor (Contact): Jeff Reynolds Related Entity? Yes No

6. Architect: Mark Larson Related Entity? Yes No

7. Real Estate Attorney: Johnson Kanady Related Entity? Yes No

8. Mortgage Banker: Related Entity? Yes No

9. Other (Contact): Related Entity? Yes No

D. Nonpr ofit I nvolvement:

1. Nonprofit Involvement (All Applicants)

4. Identity of Nonprofit (All nonprofit applicants)

5. Percentage of Nonprofit Ownership (All nonprofit applicants)

I I I . DEVEL OPM ENT I NFORM ATI ON

A. Str uctur e and Units:

2. The development's structural features are (check all that apply):

Row House/Townhouse Detached Single-family

5. Unheated Floor Area (Breezeways, Balconies, Storage) 2,251.52 (Sq. ft.)

6. Nonresidential Commercial Floor Area 0.00 (Sq. ft.)

8. Number of Buildings (containing rental units) 2

9. Commercial Area Intended Use: n/a