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(B) demonstrating that the bonds, or the full amount thereof, are not necessary to protect the interests of the department and ensure completion of the rehabilitation work;
(6) permit the sponsor and the department and their designated agents and employees the right to inspect the project site and all books, records and documents maintained by the contractor in connection with rehabilitation work;
(7)(A) require the contractor to maintain insurance coverage in the following amounts:
1. Comprehensive General Liability Insurance in a minimum amount of $1,000,000 including: premises, operations, products/completed operations hazard, contractual insurance, independent contractor's protection, and personal injury, or their equivalent;
2. Broad Form Property Damage in a minimum amount of coverage equal to the total of all existing loans secured against the property;
3. Comprehensive Automotive Liability, including bodily injury of $1,000,000 per occurrence and per person and $1,000,000 or the total of existing loans secured against the property, whichever is greater, in Property Damage coverage;
4. Worker's Compensation and Employer's Liability Insurance to the extent required by State law.
(B) require the contractor to provide prior to the commencement of construction proof of coverage as evidenced by a Certificate of Insurance or a binder followed by a Certificate within thirty days.
(C) require all policies to include the sponsor and the department and its officers, agents, and employees, named as additional insureds.
(D) require the policies to include a cancellation clause notifying the department 30 days prior to cancellation of the policies. The department may approve alternate amounts of coverage based on the size of the project and scope of work to be performed.
(8) obligate the contractor to warrant the rehabilitation work for a period of not less than one year;
(9) require that the contractor pay all amounts when due for labor, work performed under subcontract, or materials, supplies and equipment provided to the project;
(10) provide for the assignment of the construction contract to the department upon sponsor's breach of the Rehabilitation Loan Agreement;
(11) include such special conditions applicable to the construction contract as may have been imposed in connection with the department's approval of the project for funding;
(12) require that the general contractor require all subcontractors to maintain similar insurance coverage as mentioned above, with the exception that the subcontractor' insurance need not name the sponsor or the department as additional insureds, and the minimum amount of coverage shall be $500,000.
(e)(1) The sponsor shall insure the property before, during, and after construction at the following minimum levels:
(A) Hazard (property) insurance to include:
1. all risk, or fire and lightning, extended coverage, vandalism and malicious mischief, or equivalent;
2. coverage of the entire structure to include all risk contents coverage;
3. replacement cost coverage or total value;
4. a maximum deductible per occurrence of $2,500, or $1,000 if the completed project value is less than $300,000;
5. a lenders loss payable endorsement insuring the department.
(B) Other property insurance to include:
1. Flood insurance with coverage insuring to 80% of replacement cost if the property is located in a 100 year flood plain;
2. Steam boiler and related machinery coverage insuring to 80% of replacement cost when applicable.
(C) Comprehensive General Liability insurance coverage, to include $1,000,000 per occurrence or $2,000,000 per occurrence for buildings with elevators.
(D) Other insurance coverage to include Loss of Rents coverage insuring 75% of annual gross rent receipts, and Worker's compensation as required by State law if employees are involved.
(2) The sponsor shall provide to the department prior to disbursement of funds evidence of such insurance coverage in the form of a Certificate of Insurance or binder followed by a certificate within 30 days.
(3) All policies must include the department, its officers, agents, and employees, named as additional insureds.
(4) The policies must include a cancellation clause notifying the department 30 days prior to cancellation of the insurance policy.
(5) The department may approve alternate amounts of coverage based on the size of the project and scope of work to be performed.
Note: Authority cited: Section 50668.5, Health and Safety Code. Reference: Section 50668.5, Health and Safety Code.
s 7687. Application Process.
(a) The department shall issue a Notice of Funding Availability (NOFA) which specifies the amount of funds available, application requirements, the allocation of rating points, and the general terms and conditions of funding commitments. Applications in response to each NOFA will be accepted on a continuous basis.
(b) Within 30 days of the receipt of an application, the department shall provide the applicant with written notice whether the application is complete pursuant to section 7688(c). If the application is not complete, the notice shall specify the information or documentation necessary to complete the application.
(c) Applications shall be ranked at least quarterly.
(d) The department shall process a complete application within 60 days.
(1) Within 30 days of the determination by the department that an application is complete, the department shall provide the applicant with written notice whether the application has qualified for ranking pursuant to section 7689(c). If the application does not qualify for ranking, the notice shall provide an explanation of the rating and of the reasons for disqualification.
(2) Within 30 days of providing notice that an application qualifies pursuant to section 7689(c), the department shall provide the applicant with written notice whether an application qualifies for funding pursuant to section 7689(d). If an application does not qualify for funding, the notice shall include an explanation of the ranking and the reasons for the disqualification.
(e) Projects selected for funding shall be approved at loan amounts, terms, and conditions specified by the department.
(f) The department shall allocate not less than 20 percent of the monies from the fund to projects located in rural areas. If necessary, the department may do the following:
(1) issue a special NOFA for rural projects;
(2) award bonus points to rural projects;
(3) reserve a portion of funds specified in the NOFA for rural projects.
(g) The department's minimum, median, and maximum times for processing an application, from the receipt of the initial application to the final funding decision are as follows:
minimum: 60 days
median: 120 days
maximum: 180 days
Note: Authority cited: Section 50668.5, Health and Safety Code. Reference: Section 50668.5, Health and Safety Code.
s 7688. Application Requirements.
(a) Application shall be made on form HCD 779, "Rental Loan Application, California Housing Rehabilitation Program (CHRP)," dated 12/89, as set forth in subsection (b). This form is provided by the department.
(b) HCD 779, "Rental Loan Application, California Housing Rehabilitation Program (CHRP)," 12/89:
HCD 779, 12/89
RENTAL LOAN APPLICATION CALIFORNIA HOUSING REHABILITATION PROGRAM (CHRP)
Loan for (check all applicable): _____ Acquisition _____ Refinancing _____ Seismic Rehabilitation _____ General Rehabilitation _____ Conversion _____ Reconstruction _____ for Residential Hotel _____ for Single Family Rental _____ for Multi-Family Rental _____ for Group Home _____ for Congregate Home _____ Building includes nonresidential space
SECTION I: GENERAL INFORMATION
A. APPLICANT
1. Name ___________________________________________________
2. Address ________________________________________________
(Street) (City) (Zip)
3. Phone ( ) ___________________
4. Chief Executive (if applicable)_________________________
(Name) (Title)
5. Years in Existence (if applicable)______________________
6. Contact Person ___________________ Phone( )_____________
7. The Applicant is a (check one):
[ ] individual [ ] joint venture
[ ] limited partnership [ ] limited equity housing
[ ] for-profit corporation cooperative
[ ] public agency [ ] Indian reservation or
[ ] nonprofit corporation rancheria
[ ] general partnership [ ] other (specify)
8. Is any transfer of ownership to any other entity (e.g. syndication) planned prior to post-rehabilitation occupancy? Yes ____ No ____
9. Unless applicant is a public agency, label as "1: FINANCIALS." If joint venture, include separate documents for each partner. If partnership, include statements for the general partners.
10. Complete enclosed Development Qualifications form. Attach and label as "2: DEVELOPMENT QUALIFICATIONS."
11. Proposed term of loan and term of rent and occupancy restrictions: A. Rehabilitation only: ( ) 20 years ( ) other: B. Acquisition/Refinancing & Rehabilitation: ( ) 30 years ( ) other: C. How many years in addition to the minimum required by Section 7676(a) of the regulations are you committing to maintain rent and occupancy restrictions similar to program restrictions?
B. PROJECT SUMMARY
1. Project Name _________________________________________
2. Location _____________________________________________
(Street) (City) (County) (Zip)
3. Assembly District:___________Senate District: ________
4. Amount and use of CHRP funds (complete after completing Section III, page 9):
Acquisition $ _____
Refinancing $ _____
Construction $ _____
Construction Fees $ _____
Carrying Charges $ _____
General Dev Costs (except admin.) $ _____
Syndication Costs $ _____
Admin. Costs $ _____
TOTAL $ _____
5. Describe below the tenant population expected to reside in the development after completion of rehabilitation. Specify any proposed limits on occupancy. (Sections 7681 and 7682 of the CHRP regulations list the program's requirements.) (Add pages if necessary.)
6. Is the residential portion of the structure currently vacant? Yes___ No___ Is the nonresidential portion of the structure currently vacant? Yes___ No___ If yes to either of the above: When did it become vacant? What was its last use?
a. For all projects, attach and label the endorsed from "3: OCCUPANCY & RELOCATION."
b. Include in Attachment 3, one copy of the tenant notice provided to the occupants of each residential unit, as required in Section 7685(c) and (f) of the CHRP Regulations.
c. Include in Attachment 3, general description of the applicant's plan for providing relocation benefits or avoiding displacement, indicating whether tenants will need to move from the building, whether any relocation units have been identified, who will be supervising and conducting the relocation effort, and related information. Identify all planned measures that will minimize the cost and extent of relocation.
7. Number and type of units. See NOFA for definitions of "assisted," "lower-income," and "very low-income." If more than one site, show totals below and information for each site separately as "4: UNITS."
PROJECTS OTHER THAN SINGLE FAMILY HOMES:
No. Before No. After
Rehabilitation Rehabilitation
__________________________________________________________
Lower-
Income Other Assisted Assisted Non-
Type Units Units Total Lower Very Low Assis- Total
ted
Res. Hotel Units
(SRO) _____ _____ _____ _____ _____ _____ _____
Studio/efficiency _____ _____ _____ _____ _____ _____ _____
Units
1 bedroom Units _____ _____ _____ _____ _____ _____ _____
2 bedroom Units _____ _____ _____ _____ _____ _____ _____
3 bedroom Units _____ _____ _____ _____ _____ _____ _____
Other (specify) _____ _____ _____ _____ _____ _____ _____
TOTAL _____ _____ _____ _____ _____ _____ _____
SINGLE FAMILY HOMES ONLY:
# Before # After
Unit Description: Rehabilitation Rehabilitation
Bedrooms occupied by tenants _________________ _________________
Bedrooms occupied by resident
staff _______________ _______________
Bathrooms ________________ _______________
Tenants Description:
Low-income tenants _______________ _______________
Very low-income tenants ________________ ________________
Resident staff (if applicable) ________________ ________________
8. Type of construction:
[ ] wood frame
[ ] reinforced brick or other reinforced masonry
[ ] unreinforced brick or other unreinforced masonry
[ ] other (specify)
9. If unreinforced brick or other unreinforced masonry:
a. Are CHRP funds being requested for seismic rehabilitation improvements? (See Section 7675 of the regulations) Yes___ No___
b. If yes, have you been notified that the building is on the local jurisdiction listing of potentially hazardous buildings? Yes___ No___
c. If yes to b., provide a letter or other notification regarding your building being on the list of potentially hazardous buildings and provide a letter from an appropriate local government official stating that the jurisdiction is in compliance with Section 8875.2 of the Government Code or Section 19163 of the Health and Safety Code. Label "5: SEISMIC INFORMATION."
10. Number of parcels____; Number of structures____; Number of stories per structure____;
11. Age of structure(s)____years
12. Does the project currently include both residential and nonresidential uses? Yes___ No___
13. Will it have both uses after rehabilitation? Yes___ No___
If yes, describe existing and proposed non-residential uses:
14. a. Gross floor area of structure before rehabilitation:
Assisted Residential Uses___square feet (_%)
Nonassisted Residential Uses___square feet (_%)
Nonresidential Uses___square feet (_%)
TOTAL________square feet 100%
b. Gross floor area of structure after completion of rehabilitation:
Assisted Residential Uses___
Nonassisted Residential uses___ square feet (_%)
Nonresidential uses___square feet (___%)
TOTAL___square feet 100%
15. Are there and/or will there be any specific amenities supplied to the tenants with cost included in the rent (e.g. linen service, furniture or appliances)? Yes___ No___ If yes, describe:
16. In an attachment labeled "6 : CONSTRUCTION."
a. Describe the existing condition of each of the following components of your building (structural, plumbing, heating, roofing, doors, walls, electrical, foundation and mechanical.) Include a description of the need in each unit.
b. Include all inspection reports received in the last 12 months from local housing and building code officials, pest control services, roofing inspectors, etc.
c. Describe, by component, the proposed construction or repair work, and all work directly related to the construction or repair. If appropriate, provide schematic or other plans related to the work.
d. Consistent with 16.c. above, provide a line item cost estimate, using the enclosed format (Rehabilitation Cost Estimate) or a similar format. Prorate costs that cannot be directly associated with one use or another based on the gross floor area occupied by each use. Proration is governed by Sections 7674(c) and 7675(c) of the regulations.
e. If seismic reinforcement is planned, provide a separate line item estimate for all work directly related to the seismic reinforcement. Follow the format described in (d) above. Include costs for the seismic work itself, and for all demolition, wall repair, and similar work directly related to the seismic work.
f. Identify the person(s) responsible for preparing the above items, and attach a resume of their experience.
17. For projects limiting occupancy in the manner described in I.B. 5. above:
a. Describe all state and local licenses required to operate the project, and list the licensing authorities:
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
b. List below all services to be provided project residents beyond those customarily provided in furnished apartments. Provide name, contact person, and phone number for organizations providing these services.
c. List below expected sources of funds that will be used to support the services identified above, and indicate for each (1) the expected funding amount during the first two operating years and (2) the name and phone number of a contact person.
d. If available, attach letters of intent or support from each funding source listed in (c) above. Label as "7 : SERVICES LETTER."
18. If CHRP funds are being requested for sponsor administrative costs, attach an itemized statement of expenses incurred to date and a budget for anticipated future expenses. Include a detailed narrative and explanation. Label "8 : ADMINISTRATIVE EXPENSES." If the requested administrative costs exceed 10% of the loan, include the justification required by Section 7680(d) of the regulations.
19. Attach a copy of a letter from the applicant to the head of local legislative body (city council, county board, etc.) notifying it of the application and describing the location, size, and type of proposed project, and proposed tenant population. Pursuant to section 50861(c) of the Health and Safety Code, the letter must also request that the local government submit to the Department a report on the actions it is taking to implement its housing element, including policies or programs especially targeted towards providing housing for lower-income households. (Applicants who are local governments must submit the report as part of this Attachment.) Indicate on the copy the date that the letter was mailed. Label "9 : LOCAL LETTER."
SECTION II: SITE INFORMATION
A. Current owner of record
B. Date of purchase (if owned by applicant)
C. Provide a current (no more than six months old) Preliminary Title Report (PTR) and label "10 : PTR." If the applicant is the current owner, the PTR should show them as such.
D. Include a site map clearly showing the location of the project, public transportation routes that serve it, and nearby schools, recreation facilities, shopping areas, medical facilities, other facilities, and employment in relation to the needs of the tenants. Label as "11 : MAP." In this attachment describe any adverse environmental conditions on or near the site (e.g. asbestos, 100 year flood zone, toxic wastes), any proposed mitigations, and the costs attributable to such mitigations (including handling and disposal of toxic/hazardous materials) found in Attachment 6, or include a statement that there are not adverse environmental conditions.
E. Check if any of the following is required:
1. ______ Rezoning from _____ zone to _____ zone
2. ______ General plan change
3. ______ Conditional use permit
4. ______ Environmental review
5. ______ Redevelopment Agency Approval
6. ______ HUD and/or FmHA Approval
7. Other:
F. IF APPLICABLE:
1. Date option, purchase agreement, lease, disposition and development agreement, land sales contract, or other enforceable agreement was: Entered into ______ Terminates ______
2. Attach a copy of the above agreement. Label "12: ACQUISITION AGREEMENT."
3. Complete enclosed Comparable Sales form or an appraisal of the project that was prepared within the last 12 months. Attach and label "13: COMPARABLE SALES/APPRAISAL."
SECTION III: DEVELOPMENT COSTS
For buildings with non-assisted units and/or non-residential use, prorate costs that cannot be directly attributed to one use or another based on the gross floor area occupied by each.
On a separate sheet labeled "14: DEVELOPMENT COSTS," describe the basis for each line item of cost.
Assisted Non-assisted Non-
Units Units residential Total
A. Purchase Price $ ___ $ ___ $ ___ $ ___
B. Refinancing $ ___ $ ___ $ ___ $ ___
C. Construction (from I.B.
16.d. above) $ ___ $ ___ $ ___ $ ___
D. Construction Fees $ ___ $ ___ $ ___ $ ___
1. Local Permits & Fees $ ___ $ ___ $ ___ $ ___
2. Architectural and Engineer-
ing Fees $ ___ $ ___ $ ___ $ ___
3. Phase I Environmental
Study $ ___ $ ___ $ ___ $ ___
4. Other (Specify) $ ___ $ ___ $ ___ $ ___
SUBTOTAL $ ___ $ ___ $ ___ $ ___
E. Carrying Charges $ ___ $ ___ $ ___ $ ___
1. Construction Loan Fees
and Interest $ ___ $ ___ $ ___ $ ___
2. Other Loan Debt Service
During Construction $ ___ $ ___ $ ___ $ ___
3. Property Taxes During
Construct $ ___ $ ___ $ ___ $ ___
4. Insurance during
Construction $ ___ $ ___ $ ___ $ ___
5. Other: $ ___ $ ___ $ ___ $ ___
SUBTOTAL $ ___ $ ___ $ ___ $ ___
F. General Development Costs
1. Permanent Lender
Financing Fees $ ___ $ ___ $ ___ $ ___
2. Appraisal $ ___ $ ___ $ ___ $ ___
3. Legal $ ___ $ ___ $ ___ $ ___
4. Fixtures $ ___ $ ___ $ ___ $ ___
5. Furniture $ ___ $ ___ $ ___ $ ___
6. Rent-up Vacancy Loss $ ___ $ ___ $ ___ $ ___
7. Other Rent-up Costs $ ___ $ ___ $ ___ $ ___
8. Title & Escrow Fees $ ___ $ ___ $ ___ $ ___
9. Tenant Relocation $ ___ $ ___ $ ___ $ ___
10. Sponsor Admin. $ ___ $ ___ $ ___ $ ___
SUBTOTAL $ ___ $ ___ $ ___ $ ___
G. Syndication Costs
1. Bridge Loan Interest $ ___ $ ___ $ ___ $ ___
2. Legal $ ___ $ ___ $ ___ $ ___
4. Financial Consultant $ ___ $ ___ $ ___ $ ___
5. Syndication Fee and
Offering Costs $ ___ $ ___ $ ___ $ ___
6. Other $ ___ $ ___ $ ___ $ ___
SUBTOTAL $ ___ $ ___ $ ___ $ ___
H. TOTAL DEVELOPMENT
COSTS (TDC) $ ___ $ ___ $ ___ $ ___
I. TDC Per Unit/Bedroom
(Bedroom in group/
congregate home) $ ___ $ ___ $ ___ $ ___
J. TDC Per Sq. Ft. of Building
Area $ ___ $ ___ $ ___ $ ___
SECTION IV: SOURCES OF FUNDS
If refinancing of existing debt is proposed, provide the requested information for all existing financing and label 15: EXISTING DEBT. Include copies of all notes, deeds of trust, and regulatory agreements secured against the property. In an attachment labeled "16: PERMANENT FINANCING," provide requested information for all permanent loans (including CHRP) and all grants which will be recorded against the property after rehabilitation. If interim financing will be necessary, please provide the requested information for all interim loans and label "17: INTERIM FINANCING." Include any commitment letters or letters of intent that have been received.
Loans
1. Lender Branch: ______________ Branch: _____ Phone No. _____________
2. Loan Terms $__________, at ___%, amortized over ___ years: Due in ___ years. ARM Loan terms: _______________________
3. Date of Loan _______________
4. Negative Amortization: ___ yes ___ no
5. Current Unpaid Principal Balance $ _____ Prepayment penalty: ___ yes ___ no
6. Amount of balloon payment, if applicable. $______.
7. Debt Service: P & I? ______ or Interest only? _______
Payment = $____/mo, $____/yr.
8. Status of application and approval timeline: _____________
9. Order of recordation: ____________ Security for loan: ___________
10. Conditions of funding: _________________
Grants
1. Donor: ___________ Contact: _____________ Phone: __________
2. Amount: $_______________ Name of program, terms and limitations ____________________
3. Status of Application and Approval Timeline: Owner Cash Contributions for Residential Portion of Project (including gross syndication income) Amount:__________Sources:__________
For rehabilitation-only projects, owner's estimate of current property value minus current outstanding debt: $_____
Sources Unsuccessfully Attempted
List any funds (loans, grants, or other) that you attempted to obtain but were unsuccessful, and the reason for denial:
Note: If your project will have both of the following: (1) nonresidential uses; and (2) loans beside CHRP which require periodic payments, you must allocate funds between residential and nonresidential uses. This is necessary to ensure that residential debt service payments are appropriately subtracted from residential income cash to establish the amount available for return on cash investment. (See V.D. below.) For guidance in making this calculation, please contact CHRP staff.
SECTION V: OPERATING BUDGET
A. OPERATING EXPENSES
Provide estimates for the first year following the completion of rehabilitation. On a separate sheet, labeled "18: OPERATING EXPENSES," describe the basis for the estimate for each line item.
In program-based projects described in I.B.17. above, show expenses for all direct and supportive tenant services in the residential column. Income to pay for services should be shown separate from rent as miscellaneous income.
Residential Nonresidential Total
1. MANAGEMENT
a. Sponsor Overhead $ ___ $ ___ $ ___
b. Contractor Management Fee $ ___ $ ___ $ ___
2. ADMINISTRATION
a. Marketing Expense $ ___ $ ___ $ ___
b. Audit $ ___ $ ___ $ ___
c. Legal $ ___ $ ___ $ ___
d. Miscellaneous $ ___ $ ___ $ ___
e. TOTAL ADMIN. $ ___ $ ___ $ ___
3. SPONSOR SALARIES AND
BENEFITS (include value of rent
discounts)
a. On-Site or Off-Site
Manager $ ___ $ ___ $ ___
b. Asst. Manager $ ___ $ ___ $ ___
c. Grounds & Maintenance
Personnel $ ___ $ ___ $ ___
d. Desk Clerks $ ___ $ ___ $ ___
e. Janitorial Personnel $ ___ $ ___ $ ___
f. Housekeepers $ ___ $ ___ $ ___
g. Services Staff $ ___ $ ___ $ ___
h. Other $ ___ $ ___ $ ___
i. TOTAL SALARIES AND
BENEFITS $ ___ $ ___ $ ___
4. MAINTENANCE
a. Supplies $ ___ $ ___ $ ___
b. Elevator Maintenance $ ___ $ ___ $ ___
c. Pest Control $ ___ $ ___ $ ___
d. Grounds Contract $ ___ $ ___ $ ___
e. Painting and Decorating
(interior only) $ ___ $ ___ $ ___
f. Other $ ___ $ ___ $ ___
g. TOTAL MAINTENANCE $ ___ $ ___ $ ___
5. UTILITIES NOT PAID
BY TENANTS
a. Trash Removal $ ___ $ ___ $ ___
b. Electricity $ ___ $ ___ $ ___
c. Water and Sewer $ ___ $ ___ $ ___
d. Gas $ ___ $ ___ $ ___
e. TOTAL UTILITIES $ ___ $ ___ $ ___
6. INSURANCE
Property and
Liability Insurance $ ___ $ ___ $ ___
7. TAXES
a. Real Estate Taxes $ ___ $ ___ $ ___
b. Business License $ ___ $ ___ $ ___
c. TOTAL TAXES $ ___ $ ___ $ ___
8. OTHER
a. Food $ ___ $ ___ $ ___
b. Support Services Contracts $ ___ $ ___ $ ___
c. $ ___ $ ___ $ ___
d. $ ___ $ ___ $ ___
e. $ ___ $ ___ $ ___
9. TOTAL OPERATING
EXPENSES $ ___ $ ___ $ ___
B. FIRST YEAR INCOME $ ___ $ ___ $ ___
Note: Refer to Definition of Rent in Section 7671(y) of the Regulations.
For Group and Congregate Homes Only:
Monthly Rent
No. of No. of Per Bedroom or Monthly
Occupants Bedrooms Tenant (Circle One) Total
Tenants $ ____
Staff $ ____
Monthly Potential
Income -Assisted
Units $__________ x 12 months = $__________
For all Other Projects (take information from Attachment 3.):
Monthly Potential
Income -Assisted
Units $__________ x 12 months = $__________
Monthly Potential
Income -Nonassisted
Units $__________ x 12 months = $__________
Complete enclosed Comparable Rental Form. Attach and label "19: RENT COMPARABLES."
Residential Nonresidential Total
Annual Potential Income -
Assisted Units $ ______ $ ______ $ ______
Plus: Annual Potential Income -
Nonassisted Units $ ______ $ ______ $ ______
Plus: Nonresidential Rental $ ______ $ ______ $ ______
Income
Plus: Misc. Income (laundry,
phone, charges for voluntary) $ ______ $ ______ $ ______
services, etc.
Total Gross Potential Income $ ______ $ ______ $ ______
Less: Vacancy Loss ($ ______) ($ ______) ($ ______)
Effective Gross Income from
Operations
Less: Unpaid Rent Loss ($ ______) ($ ______) ($ ______)
Plus: Rental Subsidies or Program
Service Funds $ ______ $ ______ $ ______
Total Effective Income $ ______ $ ______ $ ______
If more than 10% of total effective income is nonresidential rental income, attach information on the lease terms for at least three comparable nonresidential spaces. Attach and label "20: NONRESIDENTIAL COMPARABLES." For each comparable nonresidential space, specify: 1. Street address. 2. Name and type of current tenant. 3. Rentable square feet. 4. Lease terms, including rent amount, whether NNN or other, annual increase provisions, and lease beginning and ending dates. 5. Number of parking spaces. 6. Vacancy rate.
C. RESERVE DEPOSITS
Residential Nonresidential Total
List all reserve accounts $ ______ $ ______ $ ______
Annual Operating Reserve
Deposits $ ______ $ ______ $ ______
Annual Replacement Reserve
Deposits $ ______ $ ______ $ ______
TOTAL RESERVE DEPOSITS $ ______ $ ______ $ ______
D. FIRST YEAR CASH FLOW Residential Nonresidential Total
Residential Nonresidential Total
Total Effective Income (from B) $ _____ $ _____ $ ___
Less: Total Operating Expenses
(line A.9) ($ _____) ($ _____) ($ ___)
Net Operating Income $ _____ $ _____ $ ___
Less: CHRP Debt Service ($ _____) ($ _____) ($ ___)
Less: Other Debt Service (Specify) ($ _____) ($ _____) ($ ___)
Less: Other Debt Service (Specify) ($ _____) ($ _____) ($ ___)
Less: Reserve Deposits (from C) ($ _____) ($ _____) ($ ___)
Available for Distributions,
Residual Receipts, and/or
Prepayments $ _____ $ _____ $ ___
Distributions ($ _____) ($ _____) ($ ___)
CHRP Prepayments ($ _____) ($ _____) ($ ___)
Incentive Payments $ _____ $ _____ $ ___
Residual Receipts Payments $ _____ $ _____ $ ___
Debt Service Coverage Ratio
(Total Net Operating Income/
Total Debt Service) ____________________%
SECTION VI: PROPERTY MANAGEMENT
The applicant plans to (check one):
1. Manage the project.
2. Contract with a currently unidentified management firm or other organization to operate and manage the project.
3. Contract with an identified firm.
If (1) or (3), complete and attach the enclosed Management Qualifications form, labeled "21: MANAGEMENT QUALIFICATIONS." If (2), attach a description of when and how a firm will be selected. Label "22: MANAGEMENT SELECTION."
SECTION VII: LOCAL NEED AND PROGRAMS
A. NEED
Attach appropriate parts of local housing element and other documentation, labeled "23: NEED," regarding all of the following indicators of the need for rental housing in the area of the project. Where available, provide neighborhood-level data instead of or in addition to data for larger areas.
1. Market-rate rents for typical (e.g., 1 or 2 bedroom) units.
2. Length of subsidized housing waiting lists, and length of wait for households on these lists.
3. Percent of total rental units that are substandard.
4. Loss or threatened loss of subsidized rental units due to demolition, foreclosure, or subsidy termination.
If the project will serve a special tenant group, such as households with a particular disability, include in the above attachment documentation of the need for housing serving this special tenant group in the area of the project.
B. LOCAL PROGRAMS
Check the applicable statements and attach documentation, such as applicable parts of the housing element or a letter from a local public agency, supporting the checked statement. Label "24: LOCAL PROGRAMS."
1. The jurisdiction's housing element identifies the tenant population of this project as a special needs group.
2. The project has received a commitment of financial or nonfinancial assistance from a local public agency.
3. The project has received a commitment for financial or nonfinancial assistance in support of lower income housing from a program that is not operated by a local public agency.
4. The project is eligible for financial or nonfinancial assistance under a local agency program in support of lower income housing, but has not received a commitment.
5. The project is located in a city or county that has programs in support of lower income housing, but is ineligible for these programs.
6. None of the above apply.
Note: The Department will determine compliance of the jurisdiction's housing element with State law pursuant to Section 7689(d)(4) of the regulations.
CERTIFICATION
I certify that the above and attached information and statements are true, accurate and complete to the best of my knowledge.
____________________
(Signature of Chief Executive/Owner) (Date)
____________________
(Name Typed)
For_____________________(Name of Applicant)
(Applicant Letterhead)
SAMPLE RESOLUTION NOTE: DO NOT COMPLETE IF THE APPLICANT IS AN INDIVIDUAL.
WHEREAS, The State of California, Department of Housing and Community Development, Division of Community Affairs, has issued a NOTICE OF FUNDING AVAILABILITY UNDER THE CALIFORNIA HOUSING REHABILITATION PROGRAM (CHRP): and
WHEREAS, ____________________(name of applicant) is a ______________ (state type of sponsor--public entity, nonprofit corporation, for-profit corporation, partnership, etc.), and has applied for a CHRP loan to assist a substandard structure; and
WHEREAS, ____________________ (title of officer(s) who will act on behalf of Applicant) is/are designated as the officer(s) who can act on behalf of ________________ (name of Applicant) and will sign all necessary documents required to complete the application and award process.
NOW, THEREFORE, BE IT RESOLVED THAT the Board of Directors (or authorizing body of governmental entity) of ________________ (name of Applicant) hereby authorizes ________________ (Title of Officer) to apply for and accept the loan in an amount not to exceed $___________, and to execute a State of California Standard Agreement, other required State documents, and any amendments thereto.
DATE: ________________ SIGNED: ______________________
_____________________________________
(Printed or typed Name and Title of person signing)
CALIFORNIA HOUSING REHABILITATION PROGRAM, RENTAL COMPONENT DEVELOPMENT
QUALIFICATIONS STATEMENT
Development Name _______________________________
Applicant _______________________________________
1. In the space below, identify the key members of the project development team. For each, indicate what their involvement is, current relationship with the sponsor, their employment status, etc., and attach a resume or qualifications statement for each.
2. Using the format shown below, describe rental housing projects similar to the proposed development that the development team owns or has developed.
* * *
Development Name ______________________________
Address ________________________________________
Number of Units: Subsidized: ____ Market :______ Total: _____
Subsidy Program: ________________________
Major Construction Major Permanent
Lender: Lender:
Contact: Contact:
Phone: Phone:
Date Major Permanent Loan was Committed: _____ /_____ /_____
Date Major Permanent Loan was
Closed and Recorded: _____/ _____/ _____
Construction Complete Date: _____/ _____/ _____
Date Substantially Occupied: _____ / _____/ _____
New Construction __________ or Rehabilitation
__________
Building Type: __________
* * *
Development Name ___________ Address ______________
Number of Units: Subsidized: ______Market: _____Total: ______
Subsidy Program: _____________________________
Major Construction __________ Major Permanent
Lender: __________________ Lender: __________________
Contact: __________________ Contact: _________________
Phone:_______________ Phone: __________________
Developed only? Yes/No
Developed and currently owned? Yes/No
Didn't develop but currently owned? Yes/No
Date Major Permanent Loan was Committed: _____/ _____/ _____
Date Major Permanent Loan was Closed and Recorded: _____/ _____/ _____
Construction Complete Date: _____/ _____/ _____
Date Substantially Occupied: _____/ _____/ _____
New Construction _____ or Rehabilitation ______ Building Type: ____
(To be used as Attachment 3)
CALIFORNIA HOUSING REHABILITATION PROGRAM
OCCUPANCY AND RELOCATION
TABULAR OR GRAPHIC MATERIAL SET FORTH AT THIS POINT IS NOT DISPLAYABLE
(May be used as part of Attachment 6)
CALIFORNIA HOUSING REHABILITATION PROGRAM
REHABILITATION COST ESTIMATE
Assisted Nonassisted + Nonresidential = Total
Units +
1. GENERAL REQUIREMENTS $_________ $____________ $_______________ $____
(permits, equipment
rental, testing
services, security,
scaffolding, temporary
utilities, final
clean-up costs)
2. SITE WORK $_________ $____________ $_______________ $____
(sewage & drainage,
fumigation, grading,
site
improvements,
demolition,
landscaping,
asbestos and
other hazardous
material removal)
3. CONCRETE $_________ $____________ $_______________ $____
4. MASONRY $_________ $____________ $_______________ $____
(trash dumpster
enclosure, brick
fireplaces, sand
blasting, masonry
restoration and/or
cleaning)
5. METALS $_________ $____________ $_______________ $____
(structural metal
framing, metal
joists, metal
fabrications, gutters
& downspouts)
6. CARPENTRY $_________ $____________ $_______________ $____
(fences, cabinetry,
framing, plastic
laminate, fasteners
& adhesives, millwork
moldings)
7. THERMAL/MOISTURE $_________ $____________ $_______________ $____
PROTECTION CONTROL
(insulation, roofing
and siding, flashing
& sheetmetal, roof
vents, skylights,
sealants)
8. DOORS, WINDOWS, & $_________ $____________ $_______________ $____
GLASS
(includes hardward and
weatherstripping)
9. FINISHES $_________ $____________ $_______________ $____
(lath, plater, &
gypsum board, tile,
floor and
wall coverings,
painting)
10. SPECIALTIES $_________ $____________ $_______________ $____
(toilet & bath
accessories,
fireplaces, signs,
telephone
enclosures, mail
boxes, lockers)
11. EQUIPMENT/APPLIANCES $_________ $____________ $_______________ $____
(food service
equipment, disposal
units, exhaust fans,
waste handling
equipment)
12. FURNISHINGS $_________ $____________ $_______________ $____
(manufactured
cabinets, casework,
furniture, window
treatments)
13. SPECIAL CONSTRUCTION $_________ $____________ $_______________ $____
(storage tanks, dumb
waiters, misc.)
14. CONVEYING SYSTEMS $_________ $____________ $_______________ $____
(elevators, trash or
linen chutes)
15. MECHANICAL $_________ $____________ $_______________ $____
(plumbing, gas lines,
heating & A/C,
bathroom fixtures,
pumps, water heaters,
fire extinguishing
systems)
16. ELECTRICAL $_________ $____________ $_______________ $____
(lighting, detection
systems, sound
systems)
17. CONTINGENCY $_________ $____________ $_______________ $____
18. OVERHEAD & PROFIT $_________ $____________ $_______________ $____
TOTAL PROJECT REHAB COSTS: $_________ $____________ $_______________ $____
_______________________________________________________________________________
Note: (1) A separate itemized line item budget for seismic rehab. improvements (if using Prop. 84 money) must be included.
(To be used as Attachment 13)
CALIFORNIA HOUSING REHABILITATION PROGRAM
SALES COMPARABLES
Instructions: Complete only if no appraisal done in the last 12 months is available. Show information for three recently sold properties comparable to the proposed project in its before-rehabilitation condition.
1 2 3
Address ____________ ____________ ____________
____________ ____________ ____________
Distance from Project ____________ ____________ ____________
Price ____________ ____________ ____________
Date of Sale ____________ ____________ ____________
Approximate Building
Age ____________ ____________ ____________
Unit Make-up:
Studios ____________ ____________ ____________
1-Br ____________ ____________ ____________
2-Br ____________ ____________ ____________
3-Br + ____________ ____________ ____________
Total ____________ ____________ ____________
Vacancy Rate ____________ ____________ ____________
Gross Building Area ____________ ____________ ____________
Rentable Nonresidential
Area ____________ ____________ ____________
Price/Square Foot ____________ ____________ ____________
Price/Unit ____________ ____________ ____________
Condition of Property ____________ ____________ ____________
Other Remarks ____________ ____________ ____________
____________ ____________ ____________
____________ ____________ ____________
____________ ____________ ____________
(To be used as Attachment 19) CALIFORNIA HOUSING REHABILITATION PROGRAM, RENTAL
COMPONENT RENT COMPARABLE
Instructions: Do not complete for group or congregate home projects. For other projects, copy this form and provide requested information for at least three comparable market-rate rental projects.
Date of Survey: __________
Project Name/Address: __________
Manager/Management Agent:________________Phone:____________
BUILDING SPECIFICATIONS: 0 1 2 3 4
Bed- Bed- Bed- Bed- Bed-
Unit Type SRO room room room room room
Rental Range for
Available or Recently
Rented Units ___ ___ ___ ___ ___ ___
Furnished ___ ___ ___ ___ ___ ___
Number of Units ___ ___ ___ ___ ___ ___
RENTAL POLICIES: Lease: Yes_____ No______
Period______________ Type_________
MOVE-IN COSTS (Fees, Deposits, First/Last Month Rent):________
__________________________________________________
Tenant Characteristics (e.g., senior, disabled): __________
Utilities Paid by Tenant: Gas _____ Electricity _____
Water ___ None ___
SECURITY DEVICES UTILIZED:
Front Desk Clerks: ______ Full-time Guards: ______
Part-time Guards: ______ Other: __________
Project Amenities: __________
Current Number of Vacancies: __________
(To be used as Attachment 21)
CALIFORNIA HOUSING REHABILITATION PROGRAM,
RENTAL COMPONENT MANAGEMENT
QUALIFICATIONS STATEMENT
1. Loan Applicant/Building Owner:
Proposed Development Name:
2. Proposed Management Organization:
Year Founded:
Property Management Activities were Begun:
Contact Person: Phone:
3. Type of Organization (check applicable space)
For-Profit Corporation _________ Nonprofit Corporation ______
Partnership _____________ Public Agency ________________
Individual ____________
Other (specify) __________
4. Organization's Office Locations:
____________________ Address and Phone Number
____________________ Territory and Major Cities Covered
Principal Office
Office Intended to Serve this Development
Number of miles from office to proposed development
5. Current Organization Staff
a. Total number of employees of firm involved in direct management activities:
b. Attach duty statements, and, where available, resumes for any property managers and other key line-level management personnel who would be likely to participate in management activities of this development. (This can include sponsor staff and board members.)
6. Have any licenses, certificates or accreditations ever been revoked, suspended, restricted or in any manner limited or terminated for any employee, associate or principal of your organization? (Answer in the affirmative even if license has been restored.) ___YES If "YES," please provide complete details on a separate sheet. ___NO
7. Attach a schedule with the following information for all housing developments the organization has managed and currently manages: a. Development Name and Address b. Total Number of Units c. Number of units subsidized through a government program. List subsidy source/program name. d. Building Type (e.g., high-rise) e. Date this organization began management f. Name, address, and phone number of owner g. Name and phone number of project leader contact person familiar with the development. h. Type of Housing (e.g., elderly, family, cooperative, group home) i. Current vacancy rate and physical condition of property. 8. Contract Status a. How many property management contracts held by the Organization over the past three years have been terminated prior to their expiration dates? ______________ b. How many property management contracts held by the Organization over the past three years were not renewed upon expiration? _______________ Please attach names and addresses of these developments and their mortgagors, as well as reasons and circumstances surrounding such termination(s) and nonrenewals.
9. Has the Organization or any of its present personnel ever been involved in a governmental or judicial action concerning a violation of "Fair Housing" laws?
___ YES If "YES," please describe.
___ NO
10. a. Does the Organization carry at its expense fidelity bonds or other insurance for protection of owner's interests? Please describe. (continued)