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Attachment F11 Soils Report ____ ____ ________
Attachment F12 Off-Site Improvements ____ ____ ________
G. Local Government Approvals
Attachment G1 Zoning ____ ____ ________
Attachment G2 Conditional Use Permit ____ ____ ________
Attachment G3 Parcel Map ____ ____ ________
Attachment G4 Article XXXIV ____ ____ ________
Attachment G6 Local Government Letter ____ ____ ________
H. Unit Construction
Attachment H2 Demolition/Relocation ____ ____ ________
Attachment H8 Plans ____ ____ ________
Attachment H9 Design Features ____ ____ ________
I. Project Timeline
No Attachments
J. Local Need & Assistance
Attachment J1a Waiting Lists ____ ____ ________
Attachment J1b Typical Rents ____ ____ ________
Attachment J1c Typical Vacancy Rate ____ ____ ________
Attachment J1d High Devt. Costs Areas ____ ____ ________
Attachment J2 Local Assistance ____ ____ ________
Attachment J3 Housing Plan ____ ____ ________
SECTION A: PROJECT SUMMARY
1. _____ Multi-family rental _____ Mobilehome park
_____ Residential hotel _____ Single family rentals
_____ Group home _____ Includes commercial space
2. Type of tenure:_____ rental _____ cooperative
3. Total units:_____
4. Total assisted units:_____
Percentage of units that are assisted (at least 30% of total project units):_____%
5. Total very low-income assisted units:_____
Percentage of assisted units that are very low-income (at least two thirds of assisted units):_____%
6. Proposed RHCP loan amount: $_____
7. The term of the program regulatory agreement:_____ years. Note, this answer affects your rating score. Refer to regulation subsection 8095(c)(1)(B).
8. Specify any proposed limits on occupancy, such as a specific type of tenant population, beyond those required by RHCP.
9. If the project includes commercial space, describe:
10. Provide the names of the state legislators for the site location:
Assembly:____________________
Senate:____________________
11. Provide the name and phone number of the contact from the local planning department and each of the other funding sources.
12. Site location by numbered street address, if determined, or by intersection of cross streets:
at__________ or between__________ and__________
SECTION B. APPLICANT
1. The applicant is a (check one):
[ ]individual [ ]general partnership
[ ]limited partnership [ ]joint venture
[ ]for-profit corporation [ ]limited equity housing cooperative
[ ]nonprofit corporation [ ]Indial reservation or rancheria
[ ]public agency [ ]other (specify)
a. If applicant is a partnership or joint venture, list all general partners and attach agreement.
b. Unless applicant is a public agency, attach audited financial statements or unaudited financial statements and tax returns for the past two years.
If applicant is a partnership, include the requested information for the general partners. If applicant is a joint venture, include the requested information for each partner.
c. Attach a resolution authorizing this application, unless the applicant is an individual. (See the attached SAMPLE RESOLUTION.)
2. Is any syndication or transfer of ownership to another entity planned prior to occupancy? Yes No If yes, describe below.
Provide the name of the new ownership entity, if known.
If it is a limited partnership, list the general partners and the entities with which they are affiliated.
3. Attach a list of the applicant's staff assigned to this project, providing their name, job title, job description, resume, and percentage of time assigned to this project.
4. Attach a list of the key members of the project development team, including the architect, and contractor, if selected. For each, indicate what their contract or employment status is, and attach a resume or qualifications statement for each. Attach actual or proposed consultant contracts, which clearly indicate scope of work to be performed.
5. Property management will be performed by:
______ The applicant or an entity affiliated with the applicant.
______ A currently identified management firm, under contract to the applicant.
______ An unidentified management firm, to be under contract to the applicant.
If the applicant plans to manage the project or contract with a currently identified management firm, attach a list of projects currently under management. Use the following format.
Development name:____________________
Site Address:____________________
Number of units:_____ subsidized:_____ market:_____ total:_____
Subsidy Program:____________________
6. For projects limiting occupancy to a specific tenant population:
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 apartments.
c. List below expected sources of funds that will be used to support the services identified above. Indicate for each (1) the expected funding amount during the first two operating years and (2) the name and phone number of funding source contact person. If available attach letters of intent or support from each funding source listed.
7. For group homes, provide a letter of support for the project from the local public official responsible for services to the designated tenant population, stating that the project will be an intrinsic part of the locality's established social service delivery system.
8a. Development Capacity. Attach a description of rental housing projects similar to the proposed development that the applicant or project manager has developed, using the format shown below for each project.
The "project manager" may be a staff person or consultant. They must have clear responsibility for day-to-day project development activities for the proposed project throughout the development period (from proposal to construction completion).
Applicant or Project Manager roles typically should be one or more of the following: developer, development consultant, or staff for the prior experience indicated. If claiming experience in a staff role, indicate specific responsibilities and job title.
Applicant/Project Manager Name:____________________
Applicant/Project Manager Role:____________________
Development name:__________ Address:__________
Number of units: subsidized:_____ market:_____ total:_____
Subsidy program:____________________
Major construction lender: __________
Major permanent lender:__________
Construction completion date: / /
New construction:_____ or Rehabilitation:_____ Building type:_____
8b. Ownership Capacity. Attach a description of rental housing developments similar to the proposed development which the applicant or applicant's staff has actively owned. "Actively owned", for applicants, means serving as the sole owner or managing general partner of the ownership entity.
For applicant's staff, "actively owned" means (1) serving as staff responsible for ownership duties (including oversight of property management) in an organization that actually held title or (2) serving as the sole owner or managing general partner of the ownership entity.
Applicant/Project Manager Name:____________________
Role:____________________
Development name:__________ Address:__________
Number of units:_____ subsidized:_____ market:_____ total:_____
Subsidy program:____________________
Major construction lender:____________________
Major permanent lender:____________________
Construction completion date: / /
New construction:_____ or Rehabilitation:_____ Building type:_____
9. List below any program or financial assistance you have received from HCD.
Program Contract# Amount Date HCD Contact
10. Briefly describe each program/project your agency is currently implementing.
SECTION C. PROJECT CASH FLOW ANALYSIS
1. Monthly Operating Income
a. Assisted Units (for all projects except group homes):
Assisted Units No. of Square Gross Utility Net No of
Bedrooms Feet Mon. Allowance Monthly Units Total
Rent Rent
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Very SRO $ $
Low-Income
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Studio $ $
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1 Bdrm $ $
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2 Bdrm $ $
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3 Bdrm $ $
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4 Bdrm $ $
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VLI Total
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Lower-Income SRO $ $
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Studio $ $
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1 Bdrm $ $
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2 Bdrm $ $
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3 Bdrm $ $
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4 Bdrm $ $
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LI Total
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Assisted Total
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b. Nonassisted Units (for all projects except group homes):
Nonassisted No. of Square Gross Utility Net # of
Monthly
Units Bedrooms Feet Mon. Allowance Rent Units Total
Rent.
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Very SRO $ $
Low-Income
[FNa1]
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Studio $ $
--------------------------------------------------------
1 Bdrm $ $
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2 Bdrm $ $
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3 Bdrm $ $
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4 Bdrm $ $
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VLI Total
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Lower Income SRO $ $
[FNa2]
--------------------------------------------------------
Studio $ $
--------------------------------------------------------
1 Bdrm $ $
--------------------------------------------------------
2 Bdrm $ $
--------------------------------------------------------
3 Bdrm $ $
--------------------------------------------------------
4 Bdrm $ $
--------------------------------------------------------
LI Total
Market-Rate SRO $ $
--------------------------------------------------------
Studio $ $
--------------------------------------------------------
1 Bdrm $ $
--------------------------------------------------------
2 Bdrm $ $
--------------------------------------------------------
3 Bdrm $ $
--------------------------------------------------------
4 Bdrm $ $
--------------------------------------------------------
MR Total
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Non-assisted
Total
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[FNa1] Very low-income nonassisted units are units that have long term rent and occupancy restrictions that equal or exceed those required by the federal tax-credit program. Allowable rents cannot exteed 30% of 50% of the area median income, less a reasonable utility allowance. The maximum allowable income for a household occupying a unit is also 50% of the area median income.
[FNa2] Lower income nonassisted units are units that have long term rent and occupancy restrictions that equal or exceed those required by the federal tax-credit program. Allowable rents cannot exceed 30% of 60% of the area median income, less a reasonable utility allowance. The maximum allowable income for a household occupying a unit is also 60% of the area median income. For the purpose of filing out this form only, do not include very low-income nonassisted units in this category.
Bedroom Type Number of Montly Rent Per Occupant Total
Occupants
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Single Occupancy
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Double Occupancy
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Staff Occupancy
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Total Monthly Rental Income
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Space Square Montly Montly Totla Montly
Designation Feet Rent Surcharge Income
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c. For Group Homes Only:
d. For Commercial Space:
2. Annual Operating Expenses
Provide estimates for the first full year following initial occupancy. On an attached sheet, describe the basis for the estimate for each line item. In program -based projects described in A.8. above, show expenses for all direct and supportive tenant services in the assisted and nonassisted unit columns.
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Assisted Nonassisted Commercial Total
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MANAGEMENT
a. Sponsor Overhead
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b. Contract Management Fee
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ADMINISTRATION
a. Marketing
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b. Audit
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c. Legal
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d. Leases
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e. Miscellaneous
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f. TOTAL ADMINISTRATION
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SPONSOR SALARIES AND BENEFITS
(include rent discounts
a. On-Site or Off Site Manager
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b. Assistant Manager
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c. Grounds & Maintenance Personnel
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d. Desk Clerks
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e. Janitorial Personnel
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f. Housekeepers
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g. Services Staff
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h. Other
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i. TOTAL SALARIES AND BENEFITS
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Maintenance
a. Supplies
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b. Elevator Maintenance
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c. Pest Control
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d. Grounds Contract
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e. Interior Painting & Decorating
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f. Other
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g. TOTAL MAINTENANCE
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UTILITIES NOT PAID BY TENANTS
a. Trash Removal
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b. Electricity
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c. Water and Sewer
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d. Gas
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e. TOTAL UTILITIES
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INSURANCE
a. Property & Liability Insurance
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TAXES
a. Real Estate Taxes
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b. Business License
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c. TOTAL TAXES
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OTHER
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a. Food
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b. Support Services
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c. Co-op Member Training/Education
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d.
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e.
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f. TOTAL OTHER
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TOTAL OPERATING EXPENSES
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3. First Year Cash Flow Analysis
a. Operating Expenses: $ per unit per year
b. Replacement reserve deposit: % of unit construction cost (not less than 0.6%)
c. Operating reserve deposit: % of annual operating expenses (approx. 3%)
d. Maximum possible sponsor distribution (check one):
___8% of actual investment on assisted and nonassisted units
Maximum distribution: $ , based on actual investment of $_____
___0% of actual investment on assisted units and no limit on nonassisted units (for-profit sponsors only)
YEAR 1 CASH FLOW ANALYSIS Assisted Nonassisted Commercial Total
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Potential gross rental income $ $
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Misc. Income (laundry, phone,
vol. services charges, etc.) $ $
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Total potential gross income
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Vacancy & collection loss % ($ ) ($ ) ($ ) ($ )
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Rental subsidies or
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program service funds $ $
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Effective Gross Income $ $
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Operating Expenses
(from Section C.2.): ($ ) ($ ) ($ ) ($ )
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Net Operating Income (NOI): $ $
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Reapportioned Net Income [FNa2] $ ($ ) ($ )
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Replacement reserve deposit: ($ ) ($ ) ($ ) ($ )
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Operating reserve deposit ($ ) ($ ) ($ ) ($ )
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Debt sesrvice (other loans): ($ ) ($ ) ($ ) ($ )
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Cash Flow for Distributions
and RHCP payments $ $
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Sponsor distributions: ($ ) ($ ) ($ ) ($ )
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RHCP interest payments: ($ ) ($ )
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RHCP interest deferred: ($ ) ($ )
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[FNa2] Income from non-assisted units or commercial space used to subsidize assisted units cash flow. This line must total zero.
SECTION D: DEVELOPMENT BUDGET
Submit your development budget on the following form. Do not provide your own spreadsheet as a substitute. Show costs of syndication and developer's fees from syndication proceeds under Section E-2-d of this application. Do not include these costs on this form. Prorate common area costs that cannot be directly attributed to each residential or commercial use, based on the gross floor area of each use as a percentage of the total space.
DEVELOPMENT BUDGET Assisted Nonassisted Commercial Total
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1. SITE ACQUISITION COST
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2. SITE VALUE BEYOND COST
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3. OFF-SITE IMPROVEMENTS
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4. SITE IMPROVEMENTS & LANDSCAPING
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5. UNIT CONSTRUCTION (including
contingency)
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6. CONSTRUCTION FEES
a. Local permits & fees
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b. Architecture & Engineer fees
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c. Survey
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d. Bond premium
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e. Other
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CONSTRUCTION FEES SUBTOTAL
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7. GENERAL DEVELOPMENT COSTS
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a. Construction lender financing
fee %
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b. Construction loan interest
months
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each % on
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c. Real estate taxes
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d. Risk/liability insurance
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e. Permanent lender financing fees
%
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f. Appraisal fee
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g. Legal fees
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h. Consultant fees
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i. Title & escrow fees
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j. Relocation
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k. Furnishings
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l. Rent-up: marketing
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m. Rent-up:vacancy
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n. Initial Operating Reserve
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o. Post-Construction Audit
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p. Other
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q. Other
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GENERL DEVELOPMENT COSTS SUBTOTAL
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8. ADMINISTRATIVE EXPENSES
(DEVELOPMENT)
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9. TOTAL DEVELOPMENT COST
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SECTION E: PROJECT FINANCING
1. Sources and Uses
Provide spreadsheets with a breakdown of development costs listed in the left hand column and the sources of funds spread across the top row, in as many columns as necessary. Prepare separate spreadsheets for the construction period and the period when permanent financing is in place.
In the body of the spreadsheet, show which line items each source will be used to pay. Use RHCP Development Budget Categories, shown in the following sample, to aggregate costs.
Summarize financing details at the bottom of each column, as appropriate.
SOURCE 2 SOURCE3 SOURCE 4 SOURCE 5 SOURCE 6
RHCP ________ _______ ________ ________ ________
PROPOSED USE LOAN ________ _______ ________ ________ LINE
USE OF FUNDS TOTALS REQUEST ________ _______ ________ ________ TOTALS
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SITE ACQUISITION
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SITE VALUE
BEYOND COST
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OFF-SITE
IMPROVEMENTS
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SITE IMPROVEMENTS
& LANDSCAPING
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UNIT
CONSTRUCTION
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GENERAL
DEVELOPMENT COSTS
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ADMINISTRATIVE
EXPENSES
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TOTAL DEVELOPMENT
COSTS
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FINANCIAL SUMMARY
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LIEN POSITION
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LOAN TYPE
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TERM
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ANNUAL RATE
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2. Sources Descriptions and Documentation
In an attachment, provide the information requested below for all loans (including RHCP), all grants and all owner contributions which will be used to pay the project development cost. Include any construction or interim loans. Attach commitment letters or letters of intent that have been received, or executed promissory note and deed of trust if loan is in place.
To receive credit for site value, beyond site acquisition costs, (1) list this extra value under questions (b) or (c) below and on the development budget on page 14, and (2) submit an appraisal of the land in response to question F.4. on page 17.
For Lien Position (Item a-9), indicate by the following coding: 1 = First; 2 = Second; J = Junior; E = Equity; U = Unsecured. The RHCP loan may be subordinate to institutional lenders, but must be senior to other government liens.
a. Loans
1. Lender:__________ Contact:__________ Phone #: ( )_____
2. Loan terms: $_____ , at_____% (fixed rate), amortized over _____ years, due in _____ years. ARM loan terms:
3. Loan Type:_____ amortized;_____ deferred/residual receipts;_____ bridge;_____ construction._____
4. Amount of balloon payment, if applicable: $ _____
5. Debt service: P & I?_____ or interest only?_____ payment = $_____ /month, $_____ /year.
6. Status:_____ proposed;_____ committed;_____ funded.
7. Lien position:
b. Grants (including donated land, fee waivers, etc.)
1. Donor:_____ Contact:_____ Phone: ( )_____
2. Amount: $__________ Name of program, terms and limitations__________
3. Status:_____ proposed;_____ committed;_____ owned;_____ funded.
c. Owner/Managing General Partner Contributions
1. Amount:__________
2. Sources:__________
d. Limited Partner Contributions (Syndication Proceeds)
1. Gross Syndication Proceeds:__________
2. Costs of Syndication:__________
3. Net Syndication Proceeds:__________
4. Developer's Fee (up to 25% of net):__________
5. Contribution to Project Costs:__________
6. Attach a description of how the estimate of gross syndication proceeds was arrived at, the timetable for gross syndication pay-ins and a breakdown of the sponsor's costs of syndication.
SECTION F: SITE INFORMATION
1. Size of site:_____ acres #of parcels:_____
2. The applicant has legally enforceable site control, evidenced by one of the following:
____ fee title ____ land sales contract
____ option to purchase ____ leasehold interest
____ disposition & development agreement
Attach complete evidence of site control (all documents comprising the agreement, with signatures by all parties). If the project is composed of more than one parcel, or there is more than one document provided to evidence site control, attach a narrative explanation describing clearly each parcel and each document.
3. Provide a current (no more than six months old) preliminary report. If the applicant is the current owner, the report should show them as such.
4. Complete attached LAND SALES COMPARABLES FORM or provide an appraisal of the project site done within the last 12 months.
5. Approximate distance to:
Schools ____ Park ____
Food market ____ Pharmacy ____
Hospital ____ Fire department ____
Public transportation (specify type)____________________
6. On a vicinity map, identify the location of the project, the location of the comparable land sales requested in 4 above and the items listed in 5 above.
7. Is the property in a flood plain? Yes_____ No_____
If yes, explain design features that will mitigate this potential hazard.
8. Describe any adverse site features such as location near an airport, freeway, railroad tracks, industrial facility, etc.
9. Are there any known toxic or hazardous waste problems involving the site? Yes_____ No_____
If yes, attach a description of the problem. Attach a toxics survey if one is available.
10. If the site is not located in an already developed subdivision, are power, water, sewer and telephone services now available for this site? Yes ____ No ____
If yes, attach all utility "will serve" letters that are obtainable. If no, explain how and when you will obtain those services not available.
11. Are there any unusual soils conditions? Yes_____ No_____
If yes, describe the conditions and attach a soils report.
12. Are off -site improvements needed? Yes_____ No_____
If yes, attach a description of these improvements and the basis for their estimated cost, as shown in the Development Budget above.
SECTION G: LOCAL GOVERNMENT APPROVALS
1. Does the project, as proposed, necessitate a zoning change?
_____Yes, the property is currently zoned _____
and is expected to receive the necessary zoning by_____
_____No, the property already has the necessary zoning, which is_____
Attach a letter from the local planning department or other evidence of the zoning.
2. Does the project need a conditional use permit? Yes_____No_____
If yes, attach evidence of approval, or describe status of application.
3. Is subdivision approval required? Yes_____ No_____
If yes, does project have approval? Yes No If yes, attach approved tentative map, final map or parcel map. If subdivision approval is required but has not yet been obtained, what is the current status?
4. Does the project have Article XXXIV approval? Yes_____ No_____ Exempt_____
If yes, attach evidence from the local government agency. If no, explain current status. If exempt, explain why.
5. Attach a copy of a letter which has been sent from the applicant to the head of the local legislative body of general jurisdiction (city council, county board, etc.) notifying and describing the location, size, and type of proposed project, and proposed tenant population. Indicate the date that the letter was mailed.
SECTION H: UNIT CONSTRUCTION
1. Has unit construction started on the project? Yes_____ No_____
If yes, has unit construction in progress been halted, and is the project property currently foreclosed upon, in foreclosure, deeded to a lender in lieu of foreclosure, or at substantial risk of foreclosure? Yes No
If yes, describe status of all actions to date:
2. Does the project involve the demolition of existing residential rental units? Yes_____ No_____
If yes, how many residential rental units are to be demolished?
a. If the number of units to be demolished is less than half the number of units to be built, describe the condition of the units to be demolished and the reasons why they are economically infeasible to rehabilitate.
b. Describe the applicant's plan for providing relocation benefits, whether any relocation units have been identified, who will be supervising and conducting the relocation effort, and related information.
3. Check all of the following amenities that are supplied to the tenants with cost included in the rent:
____ linen service ____ furniture
____ washer/dryer in unit ____ washer/dryer in common area
____ tot lots ____ playgrounds
____ barbecue area ____ basketball/volleyball courts
____ tennis courts ____ parking:____ spaces/unit
____ swimming pool ____ other (specify)____________________
4. If the project includes indoor common space for tenant use, describe.
5. Number of structures in the project:_____
Number of stories per structure:_____
Elevator: Yes_____ No_____
6. Calculate the square footages of space attributed to each use. Prorate common area costs that cannot be directly attributed to each use based on the leasable floor area of each use as a percentage of the total leasable space. See page 9 for a description of nonassisted low -income residential space.
Leasable assisted residential space: ____ square
feet
Indoor common space apportioned to ____ square
the above: feet
Total assisted residential space: ____ square (___% of total space)
feet
Leasable nonassisted low-income ____ square
residential space: feet
Indoor common space apportioned to ____ square
the above: feet
Total nonassisted low-income ____ square (___% of total space)
residential space: feet
Leasable nonassisted market-rate ____ square
residential space: feet
Indoor common space apportioned to ____ square
the above: feet
Total nonassisted market-rate ____ square (___% of total space)
residential space: feet
Leasable commercial space: square
feet
Indoor common space apportioned to ____ square
the above: feet
Total commercial space: ____ square (___% of total space)
feet
Total leasable space: ____ square
feet
Total indoor common space: ____ square
feet
Total space: ____ square (___% of total space)
feet
7. What is the preliminary estimate of unit construction costs (excluding site improvements and landscaping), given the project timeline?
Assisted $ ____
Nonassisted $ ____
Commercial $ ____
Total $ ____ $ _____per square foot of gross (including common) space
List the name and phone number of the person who prepared this estimate and describe the method used to determine the figures.
8. Provide schematic drawings of the siteplan, floor plans and building elevations. What is the current status of the drawings?
SECTION I: PROJECT TIMELINE
1. Site acquisition will occur by ____
2. Local planning approvals will be secured by ____
3. Construction/interim financing will be obtained by ____
4. Permanent financing will be obtained by ____
5. Off -site improvements will be completed by ____
6. Unit construction will begin by (if phased, ____
indicate timing)
7. Construction will be completed by ____
8. Initial occupancy will occur by ____
SECTION J: LOCAL NEED AND LOCAL ASSISTANCE
1. The evaluation of local need shall be based upon information gathered by the department or upon data submitted by the applicant and determined to be acceptable by the department. All applicants should answer question (a).
Only answer questions (b) and (c) if you believe that there is a significant error in the department's determination of the area vacancy rate, typical local market -rate rents as a percentage of the area median income, and rental housing development costs in comparison to costs in other areas of the state (published in the NOFA).
Attach appropriate documentation for each of your answers, clearly indicating the source, the methodology employed and clearly stating conclusions.
a. Length of wait for units in comparable subsidized housing developments. Provide information on specific comparable projects, not on area -wide lists.
b. Market -rate rents and vacancy rate for typical units in the area.
c. High rental housing development costs, in comparison to costs in other areas of the state.
2. Check the applicable statement related to the local public agency's provision of assistance. Financial assistance is defined as assistance that is equal to at least five percent of the project development cost, excluding any costs of tax - credit syndication. Nonfinancial assistance includes forms of assistance such as the granting of density bonuses, the modification of development standards, and the fast tracking of local approvals, but does not include simply the provision of technical assistance, consultation or advice. Attach documentation supporting the checked statement.
___ The project has received a commitment for financial or nonfinancial assistance from a local public agency.
___ 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.
___ None of the above apply.
3. For projects in jurisdictions with housing elements that are not in procedural or substantive compliance with state law, respond to the following question:
a. If the jurisdiction in which the proposed development is located has complied with all procedures required by Article 10.6, commencing with section 65580, of Chapter 3, Division 1 of Title 7 of the Government Code for the department's review of a draft housing element, and if that jurisdiction has adopted the housing element and submitted it to the department, that jurisdiction will be deemed to be in procedural compliance.
b. If the department has determined in writing that the adopted housing element for the jurisdiction in which the proposed development is located is in compliance with Article 10.6, commencing with section 65580, of Chapter 3, Division 1 of Title 7 of the Government Code, that jurisdiction will be deemed to be in substantive compliance.
Does the jurisdiction in which the project is located have a similar plan or policy formally considered by the local city council or board of supervisors? Yes No
If yes, attach a copy of the plan, or policy.
APPLICANT CERTIFICATION
I certify that the above and attached information and statements are true, accurate and complete to the best of my knowledge.
____________________(Signature of Authorized Officer/Owner)
__________(Date)
____________________(Name of Authorized Officer/Owner)
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 RENTAL HOUSING CONSTRUCTION PROGRAM (RHCP); and
WHEREAS,_____(Name of Applicant) is a (State type of sponsor - public entity, nonprofit corporation, for -profit corporation, partnership, etc.), and has applied for an RHCP loan to develop low- and very low -income rental housing; and
WHEREAS, _____(Name and Title of Officer) will 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 _____ (Name and 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:____________________
____________________(Name and title of person signing)
ATTACHMENT B.1.c.
RENTAL HOUSING CONSTRUCTION PROGRAM
LAND SALES COMPARABLES FORM
Instructions: Complete only if site appraisal is not available from the last 12 months. Show information for three recently sold parcels comparable to the proposed project site.
1 2 3
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Address
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Distance from Project Site
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Zoning
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Total Square Footage
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Date of Sale
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Sale Price
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Price For Square Feet
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Access to Utility Services
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Unusual Site Conditions
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Other Remarks
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Source
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Completed by Title Date
Note: Authority cited: Section 50771.1, Health and Safety
Note: Authority cited: Section 50771.1, Health and Safety Code. Reference: Sections 50736 and 50771.1, Health and Safety Code.
s 8095. Project Selection.
(a) Projects shall not be eligible for rating and ranking unless the application demonstrates that all of the following conditions exist:
(1) The applicant is an eligible sponsor pursuant to section 8078;
(2) The project involves an eligible project pursuant to section 8077;
(3) All proposed uses of program funds are eligible pursuant to section 8079;
(4) The application is complete pursuant to section 8094;
(5) The project will maintain fiscal integrity consistent with affordable rents in the assisted units.
(6) The project site is free from severe adverse environmental conditions, such as the presence of toxic waste that is economically infeasible to remove, that cannot be mitigated and is reasonably accessible to public transportation, shopping, medical services, recreation, schools, and employment in relation to the needs of the project tenants.
(7) In projects targeting households in need of any direct or supportive tenant services, the project provides those services suitable to the needs of the tenants.
(b) Projects shall not be denied funding solely because projected operating income is insufficient to make interest payments on the program loan.
(c) Where the application meets the requirements of subdivision (a), the proposed project will be rated to determine its compliance with the following priority requirements. The application must receive a minimum of 60 percent of the total possible priority points in order to qualify for funding. Applications receiving 60 percent or more of the total possible points shall be ranked based on their point scores, with applications scoring higher receiving a higher ranking. Applications shall be eligible to receive commitments of available funds in a priority order based on their ranking. If criterion (2) is not applicable to the proposed project, the total number of points possible will be reduced by the number of points in that criterion; and the 60 percent will be calculated on the reduced maximum possible points. The maximum score for each of the following seven criteria is 10:
(1) The extent to which the project maximizes program benefits to eligible households with the lowest incomes as evidenced by the following:
(A) The sum of the number of very low-income units and the number of very low-income nonassisted units, divided by the total number of assisted units.
(B) The proposed length of term of the program regulatory agreement, in excess of the program's minimum regulatory requirement.
(2) The number of assisted units with three or more bedrooms, divided by the total number of assisted units, (not applicable to residential hotels).
(3) Need, in the area, of the proposed project as approved by the department for the type of housing provided by the proposed project. The department shall issue an evaluation of need for market areas within California based on the criteria listed below. The sponsor in its application may submit other or additional information and data to rebut or supplement the department's evaluation with respect to the need within the individual project's area. Where the department determines that the sponsor's data provides a more accurate evaluation of need, it shall base its rating on such data. (continued)