TAB A

(Documentation of Development Location)

 TAB A.1
(Qualified Census Tract Certification)
 NOT
APPLICABLE
TAB A.2
(Revitalization Area Certification)
 NOT
APPLICABLE
 TAB A.2
(Surveyor’s Certification of Proximity To Public Transportation)
 NOT
APPLICABLE
TAB A.2
(Location Map)
 TAB B
(Partnership or Operating Agreement)
 Cosby Village
Manor LP, a
Virginia limited
partnership

General Partner: Initial Limited Partner:

LDG Cosby Village Manor Chris Dischinger
LLC (0.01%)
(wholly owned by LDG
Development, LLC, which is
50% owned by each of Mark
Lechner and Chris Dischinger)
TAB C
(VA SCC Certification)
 TAB D
(Principal’s Previous Participation Certification)
 CHRISTOPHER L. DISCHINGER, SEC
1473 S 4th Street
Louisville, Ky 40208
502-639-8030
PROFESSIONAL:

Chris began his real estate career in 1988 while still in college. He went to work as a residential sales agent
and began acquiring rental properties for his own account. In 1990 Chris became the principle broker and
co-owner of Equity Solutions Realtors concentrating on commercial and project based marketing. In 1993
Chris sold his interest in Equity Solutions and formed Helm/Dischinger Property Management and placed
his real estate license with Re/Max Commercial Brokers. Chris eventually sold his interest in
Helm/Dischinger and became an independent real estate broker.

Chris purchased his first investment real estate in 1988 and has been involved in many different aspects of
the development/and investment business including owning commercial properties in 13 states.

In 1994 Chris co-founded LDG Development with partner Mark Lechner. They have built, developed or
rehabbed in excess of 1600 housing units since that time and currently plan to build an additional 2000
units in 2007/2008.

PROFESSIONAL ORGANIZATIONS

Society of Exchange Counselors – Board of Governors 2005 -2007

- Membership Committee Chair

Kentucky Real Estate Exchangors - President 1993

- President 1994
- Currently – Board of Directors

Kentuckiana Real Estate Investors Association - President 1993-1994

Indiana Real Estate Exchangors
Louisville Apartment Association – President 2003
-President 2004
- Secretary/Treasurer 2006 - 2007

National Apartment Association – Legislative Committee 2004

- Governance Task Force 2006
Lexington Apartment Association
Kentucky CCIM Chapter
CCIM Candidate
Better Business Bureau
Housing Credit Group - NAHB
Mayors’ Hometown Housing Policy Advisory Team (HPAT) (Louisville, KY)
International Council of Shopping Centers (ICSC)
Indiana Apartment Association
EDUCATION

Graduate – University of Louisville School of Business (Major in Finance)

Graduate – St. Xavier High School Class of 1984
A-Pass-Weikel Real Estate Licensing Course
Auctioneer Licensing Course
Certified Commercial Investment Member – Completed all courses necessary for CCIM Designation
Institute of Real Estate Management (IREM) – Completed several courses
Completed all courses required to be awarded the Society of Exchange Counselors designation “SEC”
Equity Marketing, Counseling for Action, High Touch, Moderator Training, Broker Estate Building,
Investment Analysis and Creative Real Estate Techniques, Equity Marking Specialist (EMS Designation)
The Strategic Coach
Many other real estate and business related courses and seminars

AWARDS

Society of Exchange Counselors

2006 – Cliff Weaver Award for Most Creative Transaction

Louisville Apartment Association

2004 -Government Affairs Award

2005 -President’s Award

Kentucky Real Estate Exchangors

1990 – Rookie Exchangor of the Year

1991 – Exchange of the Year –Russell Plaza Shopping Center
1993 – Exchangor of the Year
1997 – Exchange of the Year – Louisville, Illinios, Indianapolis and Louisville
1998 – Exchange of the Year – Build to Suit Exchange 12 houses for a note on Lex Apt and cash
2000 - Exchange of the Year – Seven houses for Industrial Building
2001 – Exchange of the Year – 16 Houses in Lou/Lexington for commercial property in Georgia & Indiana
2001 - Exchangor of the Year
2001- President’s Award
2003 - Exchange of the Year
2003 - Don Kessler Award
2006 - Exchange of the Year

Kentuckiana Real Estate Investors Association

2002 - Ed Melton Award

SPEAKER/EDUCATOR

Kentucky Association of Realtors Annual Convention 1990 & 1991 – “The Basics of Exchanging”
Success Development International – Guerilla Marketing for Real Estate Entrepreneurs
Bellarmine College – Investing in Residential Real Estate
WWKY Talk 790 Radio – LDG Development’s Wealth Building Radio Show
Featured Speaker – Kentuckiana Real Estate Investors Association (Twice)
CREW Louisville – Multifamily Properties
EXPERIENCE/SIGNIFICANT PROJECTS

* Sold 120 Condos in eighteen months (Lakeview Condos)

* Bought and renovated 113,000+ square foot shopping center (Russell Plaza)
* Renovated, leased, and managed 62,000 square foot office building – Went from 0% to 85% occupancy
in twelve months (Breckenridge Business Centre)
* Build to suit 9700 square foot office building (4511 Bardtown Road)
* Build to suit four (4) Hollywood Video Stores (One in Kentucky and Three in Ohio)
* Acquired seventeen (17) former Color Tile commercial buildings in ten states
* Acquired and renovated over 300 single family houses
* Built over 200 single family houses
* Helm Dischinger Housing Partners – LIHTC Project
* Numerous 1031 tax deferred exchanges
* Total renovation of eighteen unit and sixteen unit apartment buildings with city of Louisville rehab loan
* Developed 34 lot subdivision (The Enclave)
* Renaissance Housing Ltd – 27 unit Tax Credit Project – Louisville Ky (Investor – House Investments)
* Forest Drive Single Family Homes -24 unit Tax Credit Project – (Sold)
* Strip Center – Indianapolis, IN
* Commercial Buildings – Akron, Ohio (2), Alton, Ill, Hammond, IN., Lincolnton, GA.
* Crescent Hill Development, LLC – Developed, built and sold 38 unit condo project
* Acquired 12,250 square foot office building in Louisville, KY
* Commercial Property Group – Acquired 7,800 square foot office building in Frankfort, KY
* Overlook at Beargrass Creek – developed and built 26 unit condo complex
* Cooper Chapel Properties – developed and building 72 unit condo complex
* Glen Hill Manor II, Ltd – 108 unit tax credit project in Louisville, Ky ( Investor – MMA Financial)
* Elkhorn Creek Ltd – 44 unit tax credit project in Georgetown Ky (Investor – MMA Financial)
* Falcon Crest Patio Homes – 14 units
* Falcon Crest Condos – 64 units
* Falcon Crest Apartments (Louisville, KY) – 208 unit apartment building
* Acquired and sold 15,500 square foot office building – 1961 Bishops Lane Louisville, Ky
* Acquired, leased, built out 14,625 square foot office building – 1601 Business Center Court Lou, KY
* Acquired 22,000 square foot office building in Riverport Industrial Park
* Elkhorn Creek Phase II – 48 unit tax credit apartment project
* Elk River Senior Housing – 40 unit tax credit apartment project
* Cambridge Station Apartments (Indianapolis, IN) – 200 unit apartment rehab project
* Gleneagles Apartments (Lexington, KY) – 184 unit apartment project (new construction)
* Elmira NY – Acquisition of 200,000 square foot office building and parking garage
* Carrizo Springs, Tx – acquisition of commercial building leased to dialysis center
* Muskegon, MI – Acquisition and sale of vacant land parcel
* Tyler, Tx – acquisition, plat approval and sale of 45 acre business park
* Baton Rouge, La – acquisition of 54,000 square foot office building
* Cambridge Station Phase II (Indianapolis, IN) – 256 unit apartment rehab project
* Harris Branch Apartments (Austin, Tx) – 248 unit new construction apartment project
* Whispering Woods Apartments (Louisville, KY) – 48 new construction apartment project
* Park Place at Loyola Apartments (Austin, Tx) – 252 unit new construction project
 2007 PROJECTS

• Santora Villas Apartments (Austin, Tx) – 192 unit new construction project
• The Villas at Shaver (Pasadena, Tx) – 240 unit new construction project
• Lakeside Apartments (Texas City, Tx) – 252 unit new construction project
• Inwood Crossings (Wichita, KS) – 260 unit new construction apartment project
• The Villas at Lake Forest (New Orleans, LA) – 230 unit mixed income apartment complex
• Burbank Village Apartments (Baton Rouge, LA) – 300 units

Geographic Diversity of Projects

Louisville, KY
Georgetown, KY – 3 apartment complexes
Lexington, KY - 184 Unit Apartment Complex
Lexington, KY – Commercial Bldg (Sold)
Indianapolis, IN – 456 apartment units and shopping center
Hammond, IN – Commercial Building
Akron, OH – (2) Commercial Buildings
Alton, In – Commercial Building
Lincolnton, GA – Commercial Building
Carrizo Springs, Tx –Dialysis Center
Tyler, Tx – Industrial Park (sold)
Austin, Tx – apartment complex
Muskegeon, MI – land (sold)
Elmira, NY – office building
Beumont, Tx – Commercial Bldg (Sold)
Birmingham, Al – Commercial Bldg (Sold)
Bowling Green, KY – Commercial Bldg (Sold)
Gibsonia, PA - Commercial Bldg (Sold)
Huntsville, Al – Commercial Bldg (Sold)
Greenwood, IN – Commercial Bldg (Sold)
Jacksonville, FL – Commercial Bldg (Sold)
Knoxville, Tn – Commercial Bldg (Sold)
Florance, KY- Commercial Bldg (Sold)
Montgomery, AL – Commercial Bldg (Sold)
Jackson, TN – Commercial Bldg (Sold)
Parkersburg, WV – Commercial Bldg (Sold)
Birmingham, Al – Commercial Bldg (Sold)

Planned Projects

Wichita, KS
New Orleans, LA
Baton Rouge, LA
Houston, Tx
 Mark A. Lechner
1900 Rolling Hills Trail
Fisherville, Ky. 40023
502-639-8032

PROFESSIONAL:

Mark began his real estate career in 1985 with the purchase of his first home. He received his real estate
licence in 1987, and principal brokers licence in 1989. Mark personally purchased, renovated, sold and managed
more than 100 properties in his first 9 years. In 1994 Mark Co-founded LDG Development, LLC with partner
Chris Dischinger. They have built, developed, or rehabbed in excess of 3500 housing units since that time and
currently plan to construct an additional 1000 apartment units in 2010-2011. LDG also owns and manages commercial
properties in 13 states.

Mark has been well served with his business degree from the Krannert School of Management at Purdue
University, as well as sales & management experience with 3 separate companies before he went into
the real estate business.

EDUCATION: BSIM (Bachelor of Science in Industrial Management)

Purdue University, 1982

CCIM- (CCI-100, CCI-101, CCI-102, CCI-103, CCI-104, CCI-105)

GRI, (Graduate Realtors Institute)
SDI, Real Estate Conferences and Boot Camps as an
Attendee and Instructor
Mark O' Haroldson National Investment Seminars
Mark O' Haroldson Millionaire Training Retreat
Robert Allen National Investment Seminar
Graduate, A-Pass Weikel Real Estate School
Real Estate Principal, Real Estate Law, Low Income Seminars
Multiple Tax Credit Seminars
Wade Cook Financial Clinic
Graduate, Jasper High School, Jasper, Indiana
Various Regional & National Seminars

PRESENT POSITION: Developer/Investor/Builder

Real Estate Broker, Mark Lechner Company Realtors
Co-owner, LDG Development, LLC; Xpert Design
and Construction, LLC; LDG Multifamily, LLC; and am a member/manager
in approx. 80 other LLC's and LTD's.

PAST POSITIONS: Sales Representative, Job Rentals & Sales/ Raymond

Equipment Inc. (1984-1987)
Sales Representative, Jasper Engines & Transmissions,
Inc. (1982-1985)
Sales Representative, Southwestern Co. 1981
PROFESSIONAL
ORGANIZATIONS: National Association of Realtors (NAR)
Kentucky Association of Realtors (KAR)
Kentucky CCIM Chapter
Kentuckiana Real Estate Investor Association (KREIA)
President 1994-1996
Vice President1993-1994
Board of Direc1992-1993, 1997, 1999-2004
Graduate Realtors Institute (GRI)
Kentucky Real Estate Exchangers, Director, 1995-1996
Director 2001-present
Indiana Real Estate Exchangors
Kentucky CCIM Chapter
Louisville Board of Realtors
Lexington Apartment Association
Louisville Apartment Association
Indiana Apartment Association
National Apartment Association
Better Business Bureau
Honorable Member, Kentucky Colonels
Sir Knight: Fourth Degree Knights of Colombus

AWARDS: Kentuckiana Real Estate Investors Association

1992 - Best Deal 1st Place

1993 - Best Deal 3rd Place
2002 - Best Deal 2nd Place
1996 - Presidents Award
1998 - Inaugural Ed Melton Award

Kentucky Real Estate Exchangors

1996 - Exchange of the Year - 16 Houses in Lou/Lexington

for commercial property in Georgia & Indiana
1997 - Exchange of the Year - Louisville, Illinois, Indianapolis and Louisville
1998 - Exchange of the Year - Build to suit Exchange 12 houses for note
on Lexington Apartments and cash
2000 - Exchange of the Year - 7 houses for Industrial Building
2000 - President's Award
2001 - Exchange of the Year - 16 houses in Lou/Lexington for commercial
property in Georgia & Indiana
2003 - Exchange of the Year
2006 - Exchange of the Year
2007 - Exchange of the Year - 20 houses for Florida condo
2008 - Exchange of the Year - Madison Land - 29 Indianapolis condos
2009 - Exchange of the Year

SPEAKER/EDUCATOR Success Development International - Guerilla Marketing for Real Estate Ent.
WWKY Talk 790 Radio - LDG Development's Wealth Building Radio Show
Featured and Panel Speaker - Kentuckiana Real Estate Investor Association
EXPERIENCE/SIGNIFICANT PROJECTS

* Acquired and renovated over 400 single family homes

* Built over 200 single family houses
* Lechner Scattered Sites - LIHTC Project
* Numerous 1031 tax deferred exchanges
* Total Renovation of eighteen unit and sixteen unit apartment buildings with city of Louisville rehab loans
* Developed 34 lot subdivision (The Enclave) in Louisville
* Renaisance Housing Ltd. - 27 unit Tax Credit Project - Louisville, Ky. (Investor - House Investments)
* Forrest Drive Single Family Homes - 24 unit Tax Credit Project - (Sold)
* Strip Center - Indianapolis, Indiana
* Commercial Buildings - Akron, Ohio (2), Alton, Ill, Hammond, In., Lincolnton, GA.
* Cresent Hill Development, LLC - Developed, built, and sold 38 unit condo project
* Acquired 12,250 sq ft office building in Louisville, Ky
* Commercial Property Group - Acquired 7,800 square foot office building in Frankfort, Ky.
* Overlook at Beargrass Creek - Developed and built 26 unit condo complex
* Cooper Chapel Properties - Developed and built 72 unit condo complex
* Glenn Hill Manor II, Ltd - 108 unit tax credit project in Louisville, Ky. (Investor - MMA Financial)
* Elkhorn Creek Ltd 44 unit tax credit project in Georgetown, Ky. (Investor - MMA Financial)
* Falcon Crest Patio Homes - 14 units
* Falcon Crest Condos - 64 units
* Falcon Crest Apartments (Louisville, Ky.) - 208 unit apartment complex
* Acquired and sold 15,500 sq ft office building - 1961 Bishops Lane Louisville, Ky
* Acquired 22,000 square foot office building in Riverport Industrial Park
* Elkhorn Creek Pahse II - 48 unit tax credit apartment project
* Elk River Senior Housing - 40 unit tax credit apartment project
* Cambridge Station Apartments (Indianapolis, In) - 200 unit apartment rehab project
* Gleneagles Apartments (Lexington, Ky.) - 184 unit apartment project (new construction)
* Elmira NY - Acquisition of 200,000 square foot office building and parking garage
* Carrizo Springs, Tx - acquisition of commercial building leased to dialysis center
* Muskegon, MI - Acquisition and sale of vacant land parcel
* Tyler, Tx. - acquisition, plat approval and sale of 45 acre business park
* Baton Rouge, La - acquisition of 54,000 sq ft office building
* Cambridge Station Phase II (Indianapolis, In) - 256 unit apartment rehab project
* Harris Branch Apartments (Austin, Tx.) - 248 unit new construction apartment project
* Whispering Woods Apartments (Louisville, Ky.) - 48 unit new construction apartment project
* Santora Villas Apartments (Austin, Tx) - 192 unit new construction project
* The Villas at Shaver (Pasadena, Tx) - 240 unit new construction project
* Park Place Apartments (Austin, Tx) - 252 unit new construction project
* Inwood Crossings (Wichita, KS) - 260 unit new construction project
* The Muses - Phase I (New Orleans, La) - 211 unit new construction project
* Whispering Woods Apartments (Louisville, Ky.) Phase II - 50 unit new construction apartment project
* Melbourne Sr (Alvin, Tx) - 110 unit Senior project under construction 2010
* The Muses - Phase II (New Orleans, La) - 52 unit project under construction 2010

Planned Projects
New Orleans & Baton Rouge, LA
Houston & Dallas, Tx
Louisville, Elizabethtown, & Shelbyville, Ky
Geographic Diversity of Projects
Lexington, Ky - purchases several lots and constructed homes
Louisville, Ky - numerous single family, apartment complex, and condominium projects
Georgetown, Ky - 3 apartment projects
Lexington, Ky - 184 unit apartment complex
Indianapolis, In - 456 apartment units
Hammond, In - Commercial building
Akron, Oh - (2) Commercial buildings
Alton, Ill - Commercial building
Lincolnton, GA - Commercial building
Carrizo Springs, Tx. - Dialysis Center
Tyler, Tx - Industrial Park (purchased, platted and sold)
Houston, Tx - Apartment complexes
New Orleans, La. - Apartment complex
Austin, Tx. - Three Apartment complexes
Pasadena, Tx - Apartment Complex
Elmira, NY - office building
Ashville, NC - Value Place Hotel
Wichita, KS - Apartment Complex
Lincoln, Nebraska - Value Place Hotel
Alvin, Tx _Apartment complex
Baton Rouge, La - Apartment complexes
Elizabethtown, Ky - Apartment complex
Shelbyville, Ky - Commercial and apartment ground
TAB E
(Nonprofit Questionnaire)
 NOT
APPLICABLE
TAB F
(Architect’s Certification)
 TAB H
(PHA/Section 8 Notification Letter)
Michael Haas

From: TrackingUpdates@fedex.com
Sent: Wednesday, March 02, 2011 12:46 PM
To: Michael Haas
Subject: FedEx Shipment 794474448744 Delivered

________________________________________________________________________________

This tracking update has been requested by:

Name: 'not provided by requestor'

E-mail: pmorley@ldgdevelopment.com

________________________________________________________________________________

Our records indicate that the following shipment has been delivered:

Ship (P/U) date: Mar 1, 2011

Delivery date: Mar 2, 2011 11:31 AM
Sign for by: A.COLEMAN
Delivery location: MECHANICSVILLE, VA
Delivered to: Receptionist/Front Desk
Service type: FedEx Standard Overnight
Packaging type: FedEx Envelope
Number of pieces: 1
Weight: 0.50 lb.
Special handling/Services: Deliver Weekday
Tracking number: 794474448744

Shipper Information Recipient Information

Louisville Chesterfield
KY VA
US US
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Thank you for your business.

1
TAB I
(Local CEO Letter)
 LOCALITY CEO SUPPORT LETTER

Letter will be delivered to VHDA by the April, 1, 2011 deadline.

TAB J
(Homeownership Plan)
 NOT
APPLICABLE
 TAB K
(Site Control Documentation-
Documentation of Most Recent Real Estate
Tax Assessment – Acq. Rehab. Only)
 TAB L
(Plan of Development Certification Letter)
 NOT
APPLICABLE
TAB M
(Zoning Certification Letter)
 TAB N
(Copies of 8609’s To Certify Developer Experience)
 LDG DEVELOPMENT, LLC
SUMMARY OF SIX (6) 8609’S FROM PROPERTIES WITH AT LEAST 108 UNITS

 Falcon Crest Apartments, Louisville, KY – 208 units placed in service on 4/20/2005.

 Cambridge Station, Indianapolis, IN – 200 units placed in service on 7/22/2005.

 Fox Run (Cambridge Station Phase II), Indianapolis, IN – 256 units placed in service on
6/11/2007.

 Harris Branch Apartments, Austin, TX – 248 units placed in service on 9/24/2007.

 Overlook Terraces, Louisville, KY – 144 units placed in service on 5/4/2009.

 The Villas at Shaver, Pasadena, TX – 240 units placed in service on 1/23/2009.

 TAB Q
(Documentation of Rental Assistance)
 NOT
APPLICABLE
 TAB R
(Documentation of Operating Budget)
 Cosby Village Manor, Chesterfield, VA
Operating Budget
REVENUE
Total Number of Total Monthly
Unit Type Tax Credit Units Rental Income
Efficiency Units 0 $0
1 Bedroom Units 8 $4,200
2 Bedroom Units 56 $36,705
3 Bedroom Units 44 $34,980
4 Bedroom Units 0 $0
Total Number of Tax Credit Units 108

Plus Other Income Source (list): Other Income PUPM, Garages $2,205
Equals Total Monthly Income: $78,090
Twelve Months x12
Equals Annual Gross Potential Income $937,080
Less Vacancy Allowance ( 7.0% ) $65,596
Equals Annual Effective Gross Income (EGI) - Low Income Units $871,484

EXPENSES
Administrative:
1. Advertising/Marketing $7,500
2. Office Salaries $0
3. Office Supplies $1,100
4. Office/Model Apartment (type______) $0
5. Management Fee $49,191
5.64% of EGI 455.47222 Per Unit
6. Manager Salaries $86,400
7. Staff Unit (s) (type______) $0
8. Legal $2,500
9. Auditing $2,500
10. Bookkeeping/Accounting Fees $2,500
11. Telephone & Answering Service $500
12. Tax Credit Monitoring Fee $13,980
13. Miscellaneous Administrative $32,000
Total Administrative $198,171
Utilities
14. Fuel Oil $0
15. Electricity $27,000
16. Water $2,700
17. Gas $10,800
18. Sewer $10,800
Total Utility $51,300
Operating:
19. Janitor/Cleaning Payroll $0
20. Janitor/Cleaning Supplies $500
21. Janitor/Cleaning Contract $4,500
22. Exterminating $2,000
23. Trash Removal $3,500
24. Security Payroll/Contract $3,500
25. Grounds Payroll $0
26. Grounds Supplies $3,500
27. Grounds Contract $6,000
28. Maintenance/Repairs Payroll $2,000
29. Repairs/Material $2,000
30. Repairs Contract $3,500
31. Elevator Maintenance/Contract $0
32. Heating/Cooling Repairs & Maintenance $3,500
33. Pool Maintenance/Contract/Staff $2,500
34. Snow Removal $4,500
35. Decorating/Payroll/Contract $500
36. Decorating Supplies $500
37. Miscellaneous $11,500
Operating & Maintenance Totals $54,000
 Taxes & Insurance
38. Real Estate Taxes $75,000
39. Payroll Taxes $5,000
40. Miscellaneous Taxes/Licenses/Permits $3,715
41. Property & Liability Insurance $22,500
42. Fidelity Bond $0
43. Workman's Compensation $2,500
44. Health Insurance & Employee Benefits $0
45. Other Insurance $5,000
Total Taxes & Insurance $113,715
6544
Total Operating Expense $417,186

D1. Total Oper. Ex. Per Unit $3,863 D2. Total Oper. Ex. As % EGI (from E3) 47.87%

Replacement Reserves (Total # Units X $300 for New Const. Minimum) $32,400

Total Expenses $449,586

CALCULATIONS
Net Revenue $871,484 VARIABLES
less Total Expenses $449,586 Debt Service Coverage 1.22
equals Net Operating Income $421,898 Loan Amount $3,808,000
Interest Rate 8.25%
Debt Service $343,299 Amortization (months) 360
 TAB S
(Documentation of Project Budget)
 Cosby Village Manor Project Budget 3/4/2011
Chesterfield, VA
DEPRECIATION AMORTIZATION
PER PER SITE PERSONAL LOAN ORGINI-
USES OF FUNDS AMOUNT UNIT NRSF % ELIGIBLE INELIGIBLE BUILDING WORK PROPERY COSTS ZATION EXPENSE OTHER

LAND 1,000,000 9,259 $ 8.45 6.5% - 1,000,000 1,000,000

Profers ($17,674/unit) 1,908,792 17,674 $ 16.12 12.4% 1,908,792 - 1,908,792
Tap on Fees($6,677/unit) 721,116 6,677 $ 6.09 4.7% 721,116 - 721,116
SITE WORK 9,081,630 1,512,000 14,000 $ 12.77 9.8% 1,512,000 - 1,512,000
CONSTRUCTION - BUILDINGS & CLUBHOUSE 74,186 5,940,000 55,000 $ 50.18 38.7% 5,940,000 - 5,940,000 - -
GARAGES 187,500 1,736 $ 1.58 1.2% - 187,500
CARPORTS 7,639,500 - - $ - 0.0% - - - -
CONSTRUCTION CONTINGENCY(5%) 8,012,100 372,600 3,450 $ 3.15 2.4% 372,600 - 372,600
GENERAL REQUIREMENTS (6%) 5.72% 458,370 4,244 $ 3.87 3.0% 458,370 - 458,370 - - - - - -
CONTRACTOR OVERHEAD (2%) 1.91% 152,790 1,415 $ 1.29 1.0% 152,790 - 152,790 - - - - - -
CONTRACTOR PROFIT (6%) 6.00% 458,370 4,244 $ 3.87 3.0% 458,370 - 458,370 - - - - - -
LENDER ORIGINATION FEES - CONSTRUCTION (1%) 36,950 342 $ 0.31 0.2% 36,950 - 36,950 - - - - - -
LENDER ORIGINATION FEES - PERM (1%) 36,950 342 $ 0.31 0.2% - 36,950 - - - - - - -
LENDER COUNSEL FEES 35,000 324 $ 0.30 0.2% 35,000 - 35,000 - - - - - -
BORROWER COUNSEL FEES - - $ - 0.0% - - - - - - - - -
FINANCIAL CONSULTANT FEES - - $ - 0.0% - - - - - - - - -
APPLICATION FEE 750 7 $ 0.01 0.0% - 750 - - - - - - -
IN RESERVATION FEES (6.5%) 84,500 782 $ 0.71 0.6% - 84,500 - - - - - - -
ACCOUNTING FEES 10,000 93 $ 0.08 0.1% - 10,000 - - - - - - -
ADVERTISING / MARKETING 10,000 93 $ 0.08 0.1% - 10,000 - - - - - - -
APPRAISAL FEE - - $ - 0.0% - - - - - - - - -
ARCHITECT & ENGINEERING FEES 4.00% 320,484 2,967 $ 2.71 2.1% 320,484 - 320,484 - - - - - -
DEVELOPER FEES (MAX = 15%) 1,009,180 1,002,000 9,278 $ 8.46 6.5% 1,002,000 - 1,002,000 - - - - - -
ENVIRONMENTAL REPORTS 5,000 46 $ 0.04 0.0% 5,000 - 5,000 - - - - - -
FURNITURE, FIXTURE & EQUIPMENT - - $ - 0.0% - - - - - - - - -
INSURANCE - BUILDER RISK 30,000 278 $ 0.25 0.2% 30,000 - 30,000 - - - - - -
INSURANCE - PROPERTY - - $ - 0.0% - - - - - - - - -
LENDER INSPECTION FEES 10,000 93 $ 0.08 0.1% 10,000 - 10,000 - - - - - -
MARKET STUDY FEE 4,500 42 $ 0.04 0.0% 3,600 900 3,600 - - - - - -
PERMIT / TAP / IMPACT FEES - - $ - 0.0% - - - - - - - - -
REAL ESTATE TAXES - CONSTRUCTION PERIOD 10,000 93 $ 0.08 0.1% 10,000 - 10,000 - - - - - -
SOILS REPORT - - $ - 0.0% - - - - - - - - -
SURVEY COSTS 10,000 93 $ 0.08 0.1% 10,000 - 10,000 - - - - - -
TITLE & RECORDING FEES 20,000 185 $ 0.17 0.1% 20,000 - 20,000 - - - - - -
CONSTRUCTION PERIOD INTEREST 609,675 5,645 $ 5.15 4.0% 609,675 - 609,675 - - - - - -
RENT-UP RESERVES - $ - 0.0% - - - - - - - - -
OPERATING DEFICIT RESERVES 392,490 3,634 $ 3.32 2.6% 392,490 - - - - - - -
SOFT COST CONTINGENCY 19,426 180 $ 0.16 0.1% - 19,426 - - - - - - -
REPLACEMENT RESERVES - - $ - 0.0% - - - - - - - - -
OTHER - - $ - 0.0% - - - - - - - - -
- - $ - 0.0% - - - - - - - - -
TOTAL USES OF FUNDS 15,359,263 142,215 $ 129.75 100.0% 13,616,747 1,742,516 9,474,839 4,141,908 - - - - 1,000,000
QCT ADJUSTMENT 130.0% 17,701,771 -
9.00% CREDIT RATE
Eligible Costs without Dev. Fee 12,614,747 $ 1,593,159 MAX. CREDIT (on basis) $ 14,700
Development Fee @ 8% 1,009,180 $ 1,300,000 CREDIT ALLOCATION $ 12,037
601,200.0 99.99% % TO ILP
SOURCES OF FUNDS AMOUNT PER UNIT PER SQ. FT. $ 1,299,870 ANNUAL CREDIT

EQUITY CONTRIBUTION 11,178,882 103,508 $ 94.43 72.8% $ 0.860 PRE CREDIT DOLLAR
GP CONTRIBUTION - - $ - 0.0%
DEFERRED DEVELOPMENT FEE - No limit of deferred fee in VA 516,619 485,381 4,494 $ 4.10 3.2% PAY-IN SCHEDULE
NET C/F FROM OPERATIONS 0.480965849 - - $ - 0.0% # % AMOUNT BENCHMARK
ARRA-TCAP - - $ - 1 10.0% $ 1,117,888 Admission
HOME FUNDS - - $ - 0.0% 2 10.0% $ 1,117,888 50% Completion
- - $ - 3 30.0% $ 3,353,665 100% Completion
- - $ - 0.0% 4 40.0% $ 4,471,553 Conversion
5 10.0% $ 1,117,888 3 Months DSCR
MORTGAGE LOAN 3,695,000 34,213 $ 31.21 24.1% 100.0% $ 11,178,882

TOTAL SOURCES 15,359,263 142,215 $ 129.75 100.0%

SURPLUS/(SHORTFALL) (0) 0.0%

Page 1
 TAB T
(Documentation of Financing Sources)
 TAB U
(Documentation – include any as applicable to development:)
• To Request Exception To Restriction-Pools With Little/No Increase In Rent
Burdened Population
• Of site location in an urban development area as defined in §15.2-2223.1 of the
Code of Virginia
• 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
 NOT
APPLICABLE
 TAB V
(Nonprofit or LHA Purchase Option or Right of First Refusal)
 NOT
APPLICABLE
TAB W
(Original Attorney’s Opinion)
 TAB Y
(Marketing Plan for units meeting accessibility
requirements of HUD section 504)
 Cosby Village Manor

Marketing Plan for Units Which Conform to

Section 504 of the Rehabilitation Act
This Marketing Plan for Units Which Conform to Section 504 of the Rehabilitation Act (the
“Marketing Plan”) has been designed to convey to current and potential residents with disabilities that
Cosby Village Manor will be a new rental housing experience, with a commitment to excellent
management and resident service, as well as an expectation of resident responsibility. Therefore, the
majority of this plan will address ways in which property management will endeavor to secure qualified
tenants, ensure quality tenancy, and effective management and maintenance of the property.

The Management Agent will be responsible for the management of Cosby Village Manor.
Winterwood Management, Inc.(Winterwood), the Management Agent, will be responsible for all of the
traditional management functions, including rent collection, maintenance, record keeping, reports,
development of budgets, and monitoring resident income qualifications. Additionally, Winterwood will be
responsible for the development and management of community and resident services program.

I. Affirmative Marketing

Winterwood is pledged to the letter and the spirit of the U.S. policy of the achievement of equal
housing opportunity throughout the Nation and will actively promote fair housing in the development and
marketing of this project. LCF, it’s Officers, Directors and employees will not discriminate on the basis of
race, creed, color, sex, religion, familial status, elderliness, disability or sexual orientation in its programs
or housing. They will also comply with all provisions of the Fair Housing Act (42 U.S.C. 3600, et. Seq.).

Any employee who has discriminated in the acceptance of a resident will be subject to immediate
dismissal. All persons who contact the office will be treated impartially and equally with the only
qualification necessary for application acceptance being income and credit, and conformity with the
requirements of the Section 8 Program and Tax Credit programs. All interested parties will be provided a
copy of the apartment brochure. Any resident who has questions not answered by the housing staff will be
referred to the Associate Director or the Executive Director of Winterwood.

Any unit which is designated as a unit for people with disabilities and that conforms to Section
504 of the Rehabilitation Act will be held vacant as long as it takes to find a qualified tenant.

II. Marketing and Outreach

Locating people with disabilities to occupy the units which conform to the requirements of Section
504 of the Rehabilitation Act will be accomplished as follows:

1. Networking

Winterwood will contact local centers for independent living and disability services boards and
other service organizations via phone and printed communication. The contacts will include the following
organizations:

 Central Virginia Community Services (434-847-8050)

 Department of Rehabilitative Services (434-947-6721)

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  Resources for Independent Living, Inc. (804-353-6503)

 Virginia Board for People with Disabilities (804-786-0016)

 Virginia Vocational and Rehabilitation Agency (804-662-7000)

 Centers for Independent Living

- Disability Resource Center (540-373-2559)
- Access Independence (540-662-4452)

 Virginia Rehab Association (804-662-7075)

2. Print Media

Print media sources will also be identified in the Chesterfield area that cater to people with
disabilities as well as the public at large. These sources may include, but are not limited to, rental
magazines such as the Apartment Shoppers Guide, Apartments For Rent, local newspapers, etc... All
advertising materials related to the project will contain the Equal Housing Opportunity logotype, slogan or
statement, in compliance with the Fair Housing Act, as well as the fact the units for people with disabilities
are available.

3. Resident Referrals

An effective Resident Referral program will be set up, in which current residents are rewarded for
referring friends, coworkers, and others who may have disabilities to the property. These referrals are
generally the best form of advertising as it attracts friends who will want to reside together, thus binding the
community. Residents will be offered incentives, to be determined, for referring qualified applicants who
rent at the property. Flyers will be distributed to residents along with the project newsletter announcing
the tenant referral program.

4. Marketing Materials

Additional marketing materials are needed in order to further support the specific marketing effort
to people with disabilities. All printed marketing materials will include the EHO logo. The marketing will
also emphasize the physical and administrative compliance with Americans with Disabilities Act.

These marketing materials include:

 Brochures –A simple, two color brochures can be produced at low cost which will effectively
sell the apartments and community. This brochure will include the floor plans, a listing of features
and amenities. The floor plans should be printed in as large a format as possible.

 Flyers - As mentioned earlier, a flyer campaign can be used effectively to market the
community. Each flyer should incorporate graphics as well as a small amount of copy and should
be designed to generate traffic.

A/72428543.1 2
  Resident Referral - The least expensive form of advertising is through Resident Referrals. A
flyer should be created and distributed to all residents. ($50 per referral, paid upon move in). In
addition to being distributed to all residents, the referral flyer should be left in the Management
office and should be included in the move in packet. (People are most inclined to refer their
friends in the first few weeks of their tenancy.) The flyers should be changed several times each
year to reflect the season or any type of special referral program.

III. Public and Community Relations

Equal Housing Opportunity promotions - all Site Signage containing the EHO logo and Fair
Housing posters are displayed in English and Spanish in the Rental Office. LCF encourages and supports
an affirmative marketing program in which there are no barriers to obtaining housing because of race,
color, religion, national origin, sex, elderliness, marital status, personal appearance, sexual orientation,
family responsibilities, physical or mental handicap, political affiliation, source of income, or place of
residence or business.

Additionally, a public relations program will be instituted to create a strong relationship between
management and local disability organizations, neighborhood civic organizations, churches, mosques, and
synagogues, city officials, and other sources of potential qualified residents still to be identified.

IV. Tenant Selection and Orientation

The first contact with the management operations is an important one in attracting qualified
residents; therefore the management/leasing offices should convey a sense of professionalism, efficiency,
and cleanliness. The management/leasing office is designed to provide a professional leasing atmosphere,
with space set aside specifically for resident interviews and application assistance. The leasing interviews
will be used to emphasize the respect afforded to the resident and the responsibilities which the resident
will be expected to assume.

Times of Operation - the Management Office will be open Monday through Thursday from 8:30
A.M. to 4:30 P.M. Applicants will be processed at the Management Office in accordance with approved
criteria. Move-in process and orientation to property - applicants meet with the Housing Manager or
designated staff to discuss programs available on the property and will be supplied relevant information to
assist them in their move.

On-site staff will check previous landlord and personal references verify income, perform
criminal/sex offender and credit background checks for each application taken. Tenant Selection will
include minimum income limits assigned by the Owner. New tenants will be given an orientation to the
property including a review of the rules and regulations, information on the area, proper use of appliances,
move-out procedures, maintenance procedures, rent payment procedures, energy conservation, grievance
procedures and a review of the Lease documents.

Tenant Selection Criteria

Tenant Selection will include maximum income standards under the Low-Income Tax Credit and
Section 8 programs. New tenants will be given an orientation to the property including a review of the
rules and regulations, information on the area, proper use of appliances, move-out procedures, maintenance
procedures, rent payment procedures, energy conservation, grievance procedures and a review of the Lease
documents.

A/72428543.1 3
Application Processing

Application processing will be done by the housing staff at the Management Office, well versed in
Fair Credit Law. As stated before, the processing will include a review of prior landlord references,
personal references, criminal/sex offender and credit reporting and income verification. The on-site staff
will make further review for inaccuracies in the application.

The annual income and family composition are the key factors for determining eligibility. However, the
Property Manager will also use the following criteria in selecting applicants for occupancy:

 Applicants must be individuals, not agencies or groups.

 Applicants must meet the current eligibility income limits for tax credits and any other program
requirements.

Note- If the applicant's denial is based upon a credit report, the applicant will be advised of the
source of the credit report in accordance with the Federal Fair Reporting Act. Guidelines
published by the Federal Trade Commission suggest that apartment managers fall under the
provisions of the Act and are obligated to advise the person refused an apartment for credit
reasons, the name and address of the credit reporting firm in writing. The credit report will not be
shown to the applicant, nor will specific information be revealed.

 We will process the Rental Applications through a credit bureau to determine the credit worthiness
of each applicant. If the score is below your threshold, but you have determined the applicant has
no bad credit and no negative rental history and no criminal history and enough income to qualify,
then you can conditionally approve the application after you have contacted the prior landlord. In
these cases, the application must be reviewed by the Associate Director before final approval.

 We will process the Rental Application through a credit bureau to determine any possible criminal
conduct. Convictions will be considered, regardless of whether "adjudication" was withheld. A
criminal background check will be used as part of the qualifying criteria. An applicant will
automatically be denied if;
 There is a conviction for the manufacture, sale, distribution, or possession with the intent to
manufacture, sell or distribute a controlled substance within the past five years.
 There is evidence in the criminal history that reveals that the applicant has developed a pattern of
criminal behavior, and such behavior presents a real or potential threat to residents and/or property.
 The application will be suspended if an applicant or member of the applicant's family has
been arrested for a crime but has not yet been tried. The application will be reconsidered,
within the above guidelines, after such legal proceedings have been concluded.

 Applicants must provide complete and accurate verification of all income of all family members.
The household’s annual income may not exceed the applicable limit and the household must meet
the subsidy or assisted Income Limits as established for the area in which Lynchburg High
Apartments is located. The annual income is compared to the area’s Income Limits to determine
eligibility.

 Family composition must be compatible for units available on the property.

 Applicants must receive satisfactory referrals from all previous Landlords.

A/72428543.1 4
  Applicants must provide verification of full-time student status for all individuals listed on the
application as full-time student for tax credit units.

 Applicants must not receive a poor credit rating from the Credit Bureau and other credit reporting
agencies and must demonstrate an ability to pay rent on time.

 Applicants must provide a doctor's statement and/or other proof of any handicap or disability if
required.

 Applicants must provide a birth certificate or other acceptable HUD approved forms of
documentation for all household members.

 Applicants must fill out the Application for Lease and all verification forms truthfully.

 Applicants must provide all information required by current Federal regulations and policies.

 Applicants must have the demonstrated ability to maintain acceptable housekeeping standards.

 Applicants must have the demonstrated ability to pay the rent for the proposed unit, without
spending a disproportionate amount of income for rent.

 Applicants must meet current Federal program eligibility requirements for tax credits and any
other programs.

 Preference will be given to those households whose family members are handicapped or disabled
for housing in the units specifically designated for the handicapped or disabled.

 Applicants who meet the above criteria will be placed on a waiting list based on the date and time
of their application. If an applicant turns down a unit for any reason, the applicant will be moved
to the bottom of the waiting list. If the applicant turns down a unit for any reason a second time,
the applicant will be removed from the waiting list.

A/72428543.1 5