The Townhomes at Nesbitt Courts

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Application
Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans
Project Description
Project Name: The Townhomes at Nesbitt Courts
Address: 1301 3rd Street South
City: Wilmington County: New Hanover Zip: 28401
Census Tract: 111 Block Group: 3
Is project in Qualified Census Tract or Difficult to Develop Area? Yes

Are you requesting the basis boost under section II(E)(4) of the QAP?
Political Jurisdiction: City of Wilmington

First:Bill Last:
Jurisdiction CEO Name: Title: Mayor
Saffo
Jurisdiction Address: 102 N. 3rd Street
Jurisdiction City: Wilmington Zip: 28401
Jurisdiction Phone: (910)341-7815
Site Latitude: 34.2186
Site Longitude: -77.9440
Project Type: New Construction
Is this project a previously awarded tax credit

development?
New Construction/Adaptive Reuse:

Is this project a follow-on (Phase II, etc) to a previously-awarded tax credit development project? No
If yes, list names of previous phase(s):

Rehab:
Number of residents holding Section 8
vouchers:
Will the project meet Energy Star standards as defined in Appendix B? Yes
Does a community revitalization plan exist? No

Will the project use steel and concrete construction and have at least 4 stories? No
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Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77? Yes
If yes, please describe: The Townhomes at Nesbitt Courts will have a centrally located separate 1560+/- square foot brick and fiber
cement Community Service Facility. The facility contains handicap accessible toilet facilities; kitchen area that
includes a refrigerator, sink and oven with stovetop range; administrative office area; storage room; computer
center; exercise room with equipment; laundry facilities; and a screened porch with sitting area. Resident
mailboxes are conveniently located at the community building at a lighted and covered area.
Target Population:Family
Will the project be receiving project based federal rental assistance? No
If yes, provide the subsidy source: and number of units:

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Applicant Information
Indicate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. Under
QAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant
must become part of the ownership entity. The applicant will execute the signature page for this application.
Applicant Name: Housing and Economic Opportunities, Inc.
Address: 1524 South 16th Street
City: Wilmington State: NC Zip: 28401

Contact: First: Glenn Last:Floyd Title:VP
Telephone: (910)341-7700
Alt Phone: (910)232-3354
Fax: (910)254-9244
Email Address: gfloyd@wha.net

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

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Site Description
Total Site Acreage: 5.5 Total Buildable Acreage: 5.5

If buildable acreage is less than total acreage, please explain:
Identify utilities and services currently available (and with adequate capacity) for this site:
Storm Sewer Water Sanitary Sewer Electric
Is the demolition of any buildings required or planned? Yes

If yes, please describe:
The site for the Townhomes at Nesbitt Courts is a portion of the former Nesbitt Courts public housing
development which consists of one community building and 261 residential units contained in 25 buildings.
These buildings and improvements will be demolished by the Wilmington Housing Authority. All residents
on the site were relocated as of 12/07.
Are existing buildings on the site currently occupied? No

If yes:
(a) Briefly describe the situation:
(b) Will tenant displacement be temporary?

(c) Will tenant displacement be permanent?
Is the site directly accessed by an existing, paved, publicly maintained road? Yes
If no, please explain:
Is any portion of the site located inside the 100 year floodplain? No
If yes:
(a) Describe placement of project buildings in relation to this area:

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(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:

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Site Control
Does the owner have fee simple ownership of the property (site/buildings)?Yes
If yes provide:
Purchase Date: 6/30/1944 Purchase Price: 49,008
If no:
(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?
(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for
purchase of the property and the seller of the property?
If yes, specify the relationship:
(c) Enter the current expiration date of the option/contract to purchase:
(D) Enter Purchase Price:

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Zoning
Present zoning classification of the site:MF-H
Is multifamily use permitted?Yes
Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?No
If yes, have the hearings been completed and permits been obtained?
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for
obtaining them:
Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office
review?No
If yes, describe below:
Are there any existing conditions of environmental significance located on the project site?No
If yes, describe below:

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Ownership Entity
Owner Name: The Townhomes at Nesbitt Courts, LLC

Address: 1524 S. 16th Street
City: Wilmington State:NC Zip: 28401
Federal Tax ID Number of Ownership Entity: (If assigned)

Note: Do not submit social security numbers for individuals.
Entity Type: Limited Liability Company
Entity Status: To Be Formed
Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? Yes
Is the applicant requesting that the Agency treat the application as CHDO sponsored? No
List all general partners, members,and principals. Specify nonprofit corporate general partners or members.
Click [Add] to add additional partners, members, and principals.
Org: HEO Partners IV, LLC

First Name: Michael Last Name: Krause Function: Managing Member
Address: 1524 S. 16th Street
City: Wilmington State: NC Zip: 28401
Phone: (910)341-7700 Fax: (910)254-9244
EMail: m.krause@wha.net Nonprofit: No

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Unit Mix
The Median Income for New Hanover county is $57,600.
Low Income Units
Total # Monthly Utility Mandatory **Total

Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.
Twn Hse 2 1115 16 0 431 78 0 509
Twn Hse 2 1115 16 0 686 78 0 764
Gdn Apt 2 955 7 7 304 78 0 382
Twn Hse 3 1420 15 0 482 106 0 588
Twn Hse 3 1420 18 0 630 106 0 736
Gdn Apt 3 1175 5 5 335 106 0 441
Twn Hse 4 1600 8 0 362 130 0 492
Twn Hse 3 1420 3 0 335 106 0 441
Utilities included in rents: Water/Sewer Electric Gas Other Trash
Employee Units (will add to Low Income Unit total)

Utilities included in rents: Water/Sewer Electric Gas Other
Market Rate Units

Utilities included in rents: Water/Sewer Electric Gas Other
Statistics
All Gross Monthly

Units Units Rental Income
Low Income....... 88 12 44146
Market Rate.......
Totals............... 88 12 44146

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Proposed number of residential buildings: 22 Maximum number of stories in buildings: 2
Project Includes:
Separate community building - Sq. Ft. (Floor Area): 1,560
Community space within residential bulding(s) - Sq. Ft. (Floor Area):
Elevators - Number of Elevators:
Square Footage Information
Gross Floor Square Footage: 115,144
Total Net Sq. Ft. (All Heated Areas): 113,720
Indicate below any additional targeting for special populations proposed for this project:
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal and
state codes.)
Number of Units: 5
Number of Units Required: 10

Persons with disabilities or homeless populations.
Number of Units: 7
Notes
** Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low
income units are within established thresholds.
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Targeting
Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to
create another row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.
# BRs Units %
2 16 targeted at 40 percent of median income affordable to/occupied by
Total Low Income Units: 88
Note: This number should match the total number of low income units in the Unit Mix section.

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Funding Sources
Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service
Bank Loan
RPP Loan
Local Gov. Loan - Specify:

CDBG 300,000 0.00 30 30 10,000
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan
Other Loan 1 - Specify:

HEO 758,285 0.00 30 30 25,276
Tax Exempt Bonds
State Tax Credit(Loan) 1,260,400 0 30 30 0
State Tax Credit(Direct Refund)
Equity: Federal LIHTC 7,713,654
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees
Owner Investment
Other - Specify:
Total Sources** 10,032,339
* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt
service below.
** Total Sources must equal total replacement cost in Project Development Cost (PDC) section.
Estimated pricing on sale of Federal Tax Credits: $0. 68
Remarks concerning project funding sources:

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

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Development Costs
Eligible Basis
Item Cost Element TOTAL COST
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only)
2 Demolition (Rehab / Adaptive Reuse only)
3 On-site Improvements 600,000 600,000
4 Rehabilitation
5 Construction of New Building(s) 6,240,000 6,240,000
6 Accessory Building(s)
7 General Requirements (max 6% lines 2-6) 410,400 410,400
8 Contractor Overhead (max 2% lines 2-7) 145,000 145,000
9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest) 580,000 580,000
10 Construction Contingency (max 5% lines 2-9, Rehabs 10%) 398,770 398,770
11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 201,225 201,225
12 Architect's Fee - Inspection 50,000 50,000
13 Engineering Costs 50,000 50,000
SUBTOTAL (lines 1 through 13) 8,675,395
14 Construction Insurance (prorate) 2,500 2,500
15 Construction Loan Orig. Fee (prorate) 5,000 5,000
16 Construction Loan Interest (prorate) 45,000 45,000
17 Construction Loan Credit Enhancement (prorate)
18 Construction Period Taxes (prorate)
19 Water, Sewer and Impact Fees 77,000 77,000
20 Survey 5,000 5,000
21 Property Appraisal 6,500 6,500
22 Environmental Report 1,700 1,700
23 Market Study 4,300 4,300
24 Bond Costs
25 Bond Issuance Costs
26 Placement Fee
27 Permanent Loan Origination Fee
28 Permanent Loan Credit Enhancement

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29 Title and Recording 6,000
SUBTOTAL (lines 14 through 29) 153,000
30 Real Estate Attorney 10,000 10,000
31 Other Attorney's Fees 10,000 10,000
32 Tax Credit Application Fees (Preliminary and Full) 2,300
33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 78,144
34 Cost Certification / Accounting Fees 20,000 20,000
35 Tax Opinion 500
36 Organizational (Partnership) 3,000
37 Tax Credit Monitoring Fee 61,600
38 Furnishings and Equipment 3,000 3,000
39 Relocation Expense
40 Developer's Fee 800,000 800,000
41 Additional Contigency (greater of $500/unit or $30,000) 30,000 30,000
42 Other Basis Expense (specify)
43 Other Basis Expense (specify)
44 Rent-up Expense 5,000
45 Other Non-basis Expense (specify)
46 Other Non-basis Expense (specify)
47 Rent up Reserve 26,400
48 Operating Reserve 132,000
49 Other Reserve (specify) Replacement 22,000
50 Other Reserve (specify)
51 DEVELOPMENT COST (lines 1-49) 10,032,339 0 9,695,395
52 Less Federally Funded Grant
53 Less Disproportionate Standard
54 Less Nonqualified Nonrecourse Financing
55 Less Historic Tax Credit 0
56 TOTAL ELIGIBLE BASIS 9,695,395 0 9,695,395
57 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%

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58 Basis Before Boost 9,695,395 0 9,695,395
59 Basis Boost of up to 130% 100.00% 130.00%
60 TOTAL QUALIFIED BASIS 12,604,014 0 12,604,014
61 Tax Credit Rate 3.50 9.00
62 Federal Tax Credits (maximum $1,300,000) 1,134,361 0 1,134,361
63 Federal Tax Credits Requested (if less than line 62) 0
64 Land Cost
65 TOTAL REPLACEMENT COST 10,032,339
FEDERAL TAX CREDITS IF AWARDED 1,134,361
Comments:
The Wilmington Housing Authority is the fee simple owner of the property. The Housing Authority will be
entering into a Ground Lease with the owner of the development. The owner of the development will be a
limited liability company with Housing and Economic Opportunities, Inc. (HEO) as one of its members. HEO
is the non-profit instrumentality of the Housing Authority.
Project Development Cost per unit 70,909

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Market Study Information

Please provide a detailed description of the proposed project:
Intent of new construction is to increase the number of affordable housing units available to the low-income
family population of Wilmington.
The Pointe at Taylor Estates, a recently built 48 unit tax credit project, was fully leased within 54 days and
has a waiting list of over 70 applicants. This documents the need for affordable housing in this area.
The Townhomes at Nesbitt Courts is an 88 unit development consisting of 39 two bedroom units, 41 three
bedroom units and 8 four bedroom units in 22 residential buildings. Landscaped areas include sod and
irrigation, in addition to the beautiful flowering shrubs and vegetation which are native to our coastal climate.
Carriage style street lamps throughout the development give the neighborhood a warm and cozy feeling.
There are 17 two-storey buildings and 5 one-storey buildings. The 5 one-storey garden apartments include
12 handicap units. The exterior of the buildings are at least 40% brick veneer with quality fiber cement and
metal roof accents, including color variations between the lower and upper floors which provide additional
definition to the design of the buildings and enhances the neighborhood. The roof is constructed of high
quality 25 year anti-fungal shingles and metal roofing accents to give the buildings a coastal/urban flair.
Standard features include carpeting throughout the living and bedrooms, quality VCT flooring in the kitchen,
dining area, entrance area, and bathrooms; six panel solid interior doors; solid wood cabinetry in the kitchen
and bathrooms; a pantry, a mounted fire extinguisher in the kitchen; mini blinds throughout; washer/dryer
hook-ups; patio; exterior storage closet; and an energy efficient thirteen seer rated HVAC system. The
kitchen includes an energy star dishwasher and frost free refrigerator with freezer, and an oven with stove-
top range. Each unit has its own private entrance with a covered porch and exterior door with a single lever
deadbolt and eye viewer. All exterior doors and double pane vinyl windows are insulated. There are lighted
ceiling fans, telephone jacks and cable connections in the living and bedrooms; lighted walk-in closets; and
exterior lighting at the unit’s entry doors.
The site location has all the conveniences of a downtown district, including shopping, restaurants, banking,
churches, schools, medical facilities, and public parks and pools. It is located just south of downtown
Wilmington where new growth such as shopping, medical offices, hotels and residential areas are being
constructed.
Construction (check all that apply):
Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches
Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding
Other:
(i) Community Service Facility; (ii) Underground Cultec storm water infiltration system; (iii) Metal Roof
Accents
Have you built other tax credit developments that use the same building design as this project?No
If yes, please provide name and address:

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Site Amenities:
The Townhomes at Nesbitt Courts includes amenities that will provide a high quality of life for its residents.
There is ample parking in close vicinity to each tenant’s unit, including handicap parking per code. The
buildings are positioned in a family-friendly manner that creates open spaces for resident use and play.
Other site amenities include a covered picnic area with tables and grill, sitting areas, playground, flagpole,
and refuse collection areas. The signage at The Townhomes at Nesbitt Courts is located at the entrance to
the development and is visible to motorists and pedestrians in the area. There are a total of eight
maintenance rooms located in various buildings throughout the development.
The Townhomes at Nesbitt Courts will have a centrally located separate 1560+/- square foot brick and fiber
cement Community Service Facility. The facility contains handicap accessible toilet facilities; kitchen area
that includes a refrigerator, sink and oven with stovetop range; administrative office area; storage room;
computer center; exercise room with equipment; laundry facilities; and a screened porch with sitting area.
Resident mailboxes are conveniently located at the community building at a lighted and covered area.
Onsite Activities:
Onsite activities will be provided by the Wilmington Housing Authority. Programs may include, but are not
limited to:
• Mentoring to Manhood (MTM): This program targets young men between the ages of 14 through 18 and
focuses on developing an understanding of social responsibility and establishing a place as an effective
leader in the community.
• P.E.A.R.L. Girls (Poised, Elegant, And Responsible Leaders): This program is dedicated to developing
and encouraging self-esteem, teaching ethics, respect and civility for young women ages 7 through 17.
• Programs for adults featuring homebuyer’s education, money management, financial literacy (Money
Smart), and credit repair.
Landscaping Plans:
The Nesbitt Court Townhomes site will be beautifully landscaped. As many of the large trees currently
existing on the site as possible will remain undisturbed. This property will be sodded and irrigated and the
landscape plan includes flowering shrubs and vegetation which are native to our coastal climate. Carriage
style lamps, sitting areas, and a playground strategically located on the property create a family friendly feel
to the development. The site’s attractive signage is located at the entrance to the development and is visible
to motorists and pedestrians in the area.
The portion of the former Nesbitt Courts property owned by the Wilmington Housing Authority will be
converted into a park-like area with the planting of additional trees, bushes, and other vegetation which will
create a buffer area separating Front Street from the development and residential buildings. This buffer park
will be established upon the completion of the demolition and will help to create a quiet, peaceful living
environment for the residents of The Townhomes at Nesbitt Courts. The potential for usage of this buffered
area by residents and the general public may increase over time upon the maturity and growth of this
vegetation and as the area becomes more established.
Interior Apartment Amenities:

Standard features include carpeting throughout the living and bedrooms, quality VCT flooring in the kitchen,
dining area, entrance area, and bathrooms; six panel solid interior doors; solid wood cabinetry in the kitchen
and bathrooms; a pantry, a mounted fire extinguisher in the kitchen; mini blinds throughout; washer/dryer
hook-ups; and an energy efficient thirteen seer rated HVAC system. The kitchen includes an energy star
dishwasher and frost free refrigerator with freezer, and an oven with stove-top range. There are lighted
ceiling fans, telephone jacks and cable connections in the living and bedrooms; and lighted walk-in closets.
Do you plan to submit additional market data (market study, etc.) that you want considered? No
If yes, please make sure to include the additional information in your pre-application packet.

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Applicant's Site Evaluation

Briefly describe your site in each of the following categories:
NEIGHBORHOOD CHARACTERISTICS
Trend and direction of real estate development and area economic health. Physical condition of buildings and
improvements in the immediate vicinity. Concentration of affordable housing.
The quality and physical condition of the area is gradually improving with the revitalization of downtown
Wilmington. As our two developments of Robert R. Taylor Senior Homes and The Pointe at Taylor Estates
are the cornerstone of redevelopment on the north side of Wilmington, this development at Nesbitt will
become the cornerstone of redevelopment on the south side of Wilmington. The area is located in the
National Register Area of the historic district and one mile from City Hall, which is located in the middle of
historic downtown Wilmington. The proposed development is located on a portion of the former Nesbitt
Courts public housing development. The nearby neighborhood contains a mix of single family homes, multi-
family units, retail stores, churches, and City offices. The City of Wilmington is committed to re-developing
the this area and has begun meeting with the area residents to initiate a Southside Community
Revitalization Plan. The Townhomes at Nesbitt Courts is located less than one mile south of downtown
Wilmington.
Downtown Wilmington has seen a recent boom in new construction, with the construction of the new luxury
condominiums Bannerman Station, Weldon Deco Condos, Modern Baking Company Lofts, The Mercantile,
and Brooklyn House on the Promenade, which added 111 units to the area. The recently completed tax
credit developments of The Pointe at Taylor Estates and Robert R. Taylor Senior Homes added much
needed quality affordable housing to the downtown area. PPD (a contract research company with partners
in the pharmaceutical, biotechnology, and other fields) recently completed their 400,000 square foot
worldwide corporate headquarters overlooking the Cape Fear River. The new 84,000 square foot multi-
million dollar police headquarters is also located downtown on Bess Street. All of this new construction is
within a short distance of The Townhomes at Nesbitt Courts.
Currently under construction in downtown Wilmington is the Bank of America building, the multi-million
dollar Wilmington Convention Center, marina, and the full-service 157 room Hotel Indigo. In November,
2008, the Wilmington City Council also approved $7 million for the phased redevelopment of property near
the Isabel Holmes Bridge, which will include residential units, hotels, office and retail space in the downtown
area. Cape Fear Community College, recently received voter approval of a bond referendum for $164
million to build three new buildings dedicated to training in health, technology, and general studies with the
objective of bringing new jobs to Wilmington. The Gateway Project is less than 1/2 mile from The
Townhomes at Nesbitt Courts and was given approval by the Wilmington City Council in October, 2008. It is
a mixed use high rise development located on 10 acres of empty industrial land near the base of the Cape
Fear Memorial Bridge and includes 260 condominium units, a restaurant, 40 boat slips, and retail space for
shops and food services. This project is estimated to cost 150 million dollars and will greatly add to the
revitalization of the area.
The Townhomes at Nesbitt Courts will further enhance the downtown environment by the demolition of the
former Nesbitt Courts, a barrack style public housing development. All current buildings and improvements
on this property will be demolished prior to start of new construction and are not included in this tax credit
application. The Townhomes at Nesbitt Courts will offer additional affordable units to the residents of
Wilmington in a very high-demand location in the City where affordable housing is limited.

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SURROUNDING LAND USES AND AMENITIES
Land use pattern is residential in character (single and multifamily housing). Extent that the location is
isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:
wastewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distribution
facilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,
sources of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount and
character of vacant, undeveloped land. The Townhomes at Nesbitt Courts is located just south of downtown
Wilmington and is in close proximity to residential neighborhoods, retail services and amenities. In addition to
the newly constructed luxury condominiums in the downtown area, there is a mix of single and multi-family
homes within a short distance, including the many beautiful homes in the Historic District and the recently
opened tax credit properties Robert R. Taylor Senior Homes and The Pointe at Taylor Estates. There is a
wide variety of services and amenities that are available to residents of The Townhomes at Nesbitt Courts.
There are ten convenience stores or specialty food markets located within two miles, two full-service grocery
stores within two miles, and three full-service grocery stores within three miles. There are several quaint retail
shops at Chandler’s Warf, The Cotton Exchange, and at many individual specialty shops that are located
throughout the downtown area. Shopping at Independence Mall, various strip malls and a Wal-Mart
Supercenter are within one to five miles of the site and are easily accessible by the WAVE public transit bus
service. Basic health care includes Dawson Street Urgent Care which is located within one mile of the
proposed site. Also located in the downtown area are two walk-in clinics. New Hanover Regional Hospital,
physician offices and pharmacies are located within three miles or less from the site. All facilities are
accessible by public transit bus service. The Townhomes at Nesbitt Courts is in the New Hanover County
School District and is served by seven public schools from elementary to high school, which includes one
year- round and three County Pre-K schools. All County school facilities, including the gymnasiums, athletic
fields, and auditoriums are available for public use. Additional educational facilities which are one to two
miles away include St. Mary’s Catholic School and Cape Fear Community College. The University of North
Carolina-Wilmington is five miles away. There are several local child development day care centers within
two miles of The Townhomes at Nesbitt Courts. Many of these centers are subsidized by DHHS and
residents may be eligible to receive financial assistance to pay for the cost of the child care. The Wilmington
community offers several supportive services for its residents. Among these services are the Boys and Girls
Club, Community Arts Center, Department of Health and Human Services (DHHS), The Employment
Security Commission (ESC), Good Shepard Center, and Wilmington Treatment Center. Services offered by
these providers include aid for the homeless, mental health services, drug and alcohol abuse treatment,
recreational, educational, social, and employment services. Other programs are the Wilmington Youth Center
for Inspiration, Recreation and Education (WIRE) and Communities In Schools of Cape Fear (CISCF). WIRE
offers various programs including tutoring with county school course credit, crisis intervention, medical
attention, anger management, sports, and arts programs. CISCF is dedicated to helping young people learn
successfully, stay in school, and prepare for life and offers a wide variety of programs. Transportation for
NHC students is available to WIRE and CISCF via a designated bus stop. In addition, CISCF offers free
passes so students can get home free of charge via public transportation. Other services in the vicinity
include churches and the U.S. Post Office. The main branch of the New Hanover County Library is one mile
away. The Library offers various free services including Wi-Fi internet access, meeting rooms, computer and
credit counseling classes, toddler story time, and tax preparation assistance. Greenfield Park surrounds
Greenfield Lake and is a 250 acre park with full amenities, including paddle boats, walking trails, planting
beds, concession stands, picnic areas, grills, shelters, tennis courts, playgrounds, water fountains, and public
restroom facilities. The Greenfield Amphitheater is a venue for performances, programs, exhibitions, festivals
and other activities. The Amphitheater is home to the Cape Fear Shakespeare Festival and was recently
renovated to include an expanded cover over the stage and an adjoining stage house with shower and
dressing facilities. Legion Stadium has 25 acres which include a community pool, tennis courts, restrooms,
picnic areas, lighted athletic fields, and planting beds. Both Greenfield Park and Legion Stadium are one mile
or less from the development. Robert Strange Park is a fifteen acre park located one mile from Nesbitt
Courts. Amenities include ball parks, basketball and tennis courts, pool, recreation center, playground,
shelters, restrooms and more. One block to the west of this property along Front Street are existing fuel
storage tanks. These storage tanks owned by the Wilmington Terminal, are diked and meet the federal
requirements of the SPCC Rule. The Wilmington Housing Authority will establish a buffer park on the portion
of the former Nesbitt Courts development, which will distance the neighborhood from the fuel tanks and will
create a quiet and peaceful environment. There is one railroad track running along the northern portion of the
property. Trains usually run twice a day and blow their horn at traffic intersections. Brick buffer walls will be
constructed to help eliminate noise and block the view of the tracks.

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SITE SUITABILITY
Adequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilities
(particularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project sign
(s) in relation to traffic corridors. Adequate traffic controls exist around the site to allow for a steady flow of
traffic. Traffic signals exist at the corner of 3rd Street and Greenfield Street. All other intersections directly
surrounding the site are controlled by stop signs. The posted speed limit is 35 mph and a turn lane on Third
Street allows for the smooth flow of traffic for motorists entering or exiting the development. The site plan for
The Townhomes at Nesbitt Courts was designed to eliminate unnecessary traffic utilizing the roads within the
development. The public facilities, including roads, are not overly burdened and will not be overly burdened
by the proposed development. The site has exceptional access to traffic corridors leading to and from the
City. The Cape Fear Memorial Bridge, which links Wilmington to routes that lead to Leland, Myrtle Beach,
Fayetteville, and Lumberton, is less than one-half mile from this property. The Isabel Holmes Bridge and
Martin Luther King Jr. Parkway are also within a few miles of this property at the north end of the downtown
area. This development will enhance the entrance to Wilmington by those residents and tourists entering the
area via the Cape Fear Memorial Bridge. Prominent signage is displayed at the entrance to the community
that is visible from various traffic corridors. Public transportation has routes throughout the City, including one
stop at the intersection of Front Street and Greenfield Street. The schedule runs every thirty minutes and
costs the rider anywhere from $.50 to $1.00. A free trolley service circles the downtown area enabling
residents to easily access all the conveniences of downtown without having to walk long distances.
Degree of on-site negative features and physical barriers that will impede project construction or adversely
affect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, large
boulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-
suitability for residential use and difficulties posed by the building(s), such as limited parking, environmental
problems or the need for excessive demolition).
No impediments or barriers currently exist on this property that negatively affect the residents. Sidewalks
surrounding the site and throughout downtown are available for pedestrian activity. Ample parking is
available, including handicapped on-site parking.
Similarity of scale and aesthetics/architecture between project and surroundings.

The area surrounding the site is being revitalized through various construction and rehabilitation projects,
including the Gateway Project. The Townhomes at Nesbitt Courts will be similar in scale to the existing
structures and will blend in nicely with the historic homes nearby.
For each applicable neighborhood feature, enter distance from project in miles.
.73 Grocery Store 1.08 Community/Senior Center
1.3 Mall/Strip Center 2.21 Hospital
0.18 Outdoor Athletic 1.35 Pharmacy

Fields
1.06 Day Care/After 0.59 Basic Health Care

School
0.04 Public Transportation

1.27 Schools
Stop
0.6 Convenience Store 0.18 Public Parks

Print - APP09-0079
0.6 Gas Station 1.37 Library
Other facilities or services:

Downtown Wilmington is a short distance from the site and features the Farmer’s Market held in Riverfront
Park each Saturday morning from April through December. The market features local farmers, producers,
artists and crafters. Several museums and historical sites are also located in the downtown area including
Bellamy Mansion, Cape Fear Museum, Cape Fear Serpentarium, Historic Hannah Block USO Building,
Wilmington Children’s Museum, Wilmington Railroad Museum and Henrietta III Riverboat. Historic Thalian
Hall, a regional center for performing arts, is also located in downtown Wilmington not far from Nesbitt
Courts. The Riverwalk extends along the length of the Cape Fear River and enables pedestrians to walk
from one end of the downtown area to the other end, with stops along the way for various shops,
restaurants, offices, and tourists attractions.
Residents can easily travel into the downtown area will they will be able to view the magnificent fireworks
displays put on by the City of Wilmington at various times of the year, including July 4th, Riverfest, and the
Azalea Festival. Parades are held through downtown during the festivals and holiday times.
Public safety is nearby with the new Police and Fire Department headquarters which are less than two
miles from the site.
Banking, legal, and other professional services are located within the downtown area, along with the
Chamber of Commerce and other small businesses frequented by the citizens of Wilmington.

Print - APP09-0079
Preliminary App Checklist
The following enclosures must be submitted along with your signed preliminary application. Some enclosures are required only under
certain conditions. Please check each applicable item to indicate that you understand the enclosure requirements and will enclose the
correct supporting documentation with your application.
Fee Payment
Check in the amount of $5,450.00 made payable to North Carolina Housing Finance Agency.
Tab A - Preliminary Application
Printed, signed copy of preliminary application generated from online system.
B - Map/Driving Instructions
A local map clearly identifying the location of the Site and detailed directions to the Site. Current City or County maps are preferred
– internet maps and directions are not acceptable. Applicant must also provide a map identifying the amenities listed in section IV
(A)(1)(b)(ii) of the QAP and their proximity to the site.
Applicant must provide a sign and boundary markers to clearly identify the road frontage of the site. The sign identifying the site
should read “SITE” with a minimum size of 11x17.
C - Community Revitalization Plan
Applicant should provide a map identifying the subject site within the Plan area (if applicable).
D - Evidence of Site Control
Provide valid option/contract or warranty deed and plot plan.
E - Site Plans/Scope of Work
Preliminary site plan, floor plans and elevations for all projects, interior and exterior photographs and detailed scope of work for
Adaptive Reuse and Rehab projects. Site and floor plans should be no larger than 11x17 and must be produced by a licensed
architect or engineer.
F - Information Package for Market Analysts
This section must include copies of items required in Tabs A, B, E and G (site and floor plans should be no larger than 11x17) and
can include any additional market information such as preliminary market studies the applicant would like to provide to the
Analysts.
G - Rent Roll (Rehabs only)
Provide the current rent roll for the property and indicate which units (if any) are receiving rental assistance.
H - Documentation for Basis Boost
Applicant should provide an appraisal and/or standard geological survey to support a request for the basis boost (if applicable).

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Print - APP09-0079

Print Preview - Preliminary

City: Wilmington County: New Hanover Zip: 28401

Census Tract: 111 Block Group: 3

Is project in Qualified Census Tract or Difficult to Develop Area? Yes

Political Jurisdiction: City of Wilmington

Jurisdiction City: Wilmington Zip: 28401

Jurisdiction Phone: (910)341-7815

Site Latitude: 34.2186

Site Longitude: -77.9440

Project Type: New Construction

Is this project a previously awarded tax credit

New Construction/Adaptive Reuse:

If yes, list names of previous phase(s):

Does a community revitalization plan exist? No

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

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City: Wilmington State: NC Zip: 28401

Alt Phone: (910)232-3354

Email Address: gfloyd@wha.net

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Total Site Acreage: 5.5 Total Buildable Acreage: 5.5

Storm Sewer Water Sanitary Sewer Electric

Is the demolition of any buildings required or planned? Yes

Are existing buildings on the site currently occupied? No

(b) Will tenant displacement be temporary?

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Purchase Date: 6/30/1944 Purchase Price: 49,008

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

(D) Enter Purchase Price:

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Is multifamily use permitted?Yes

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Owner Name: The Townhomes at Nesbitt Courts, LLC

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

Org: HEO Partners IV, LLC

Phone: (910)341-7700 Fax: (910)254-9244

EMail: m.krause@wha.net Nonprofit: No

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Low Income Units

Total # Monthly Utility Mandatory **Total

Twn Hse 2 1115 16 0 431 78 0 509

Twn Hse 2 1115 16 0 686 78 0 764

Gdn Apt 2 955 7 7 304 78 0 382

Twn Hse 3 1420 15 0 482 106 0 588

Twn Hse 3 1420 18 0 630 106 0 736

Gdn Apt 3 1175 5 5 335 106 0 441

Twn Hse 4 1600 8 0 362 130 0 492

Twn Hse 3 1420 3 0 335 106 0 441

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

Employee Units (will add to Low Income Unit total)

Total # Monthly Utility Mandatory **Total

Utilities included in rents: Water/Sewer Electric Gas Other

Market Rate Units

Total # Monthly Utility Mandatory **Total

Utilities included in rents: Water/Sewer Electric Gas Other

All Gross Monthly

Low Income....... 88 12 44146

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Proposed number of residential buildings: 22 Maximum number of stories in buildings: 2

Community space within residential bulding(s) - Sq. Ft. (Floor Area):