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Application Instructions
| 2024 Housing Tax Credit Application V6.2 Instructions |
| This application is on Microsoft Office Excel 2016. Attempts to complete the application on earlier versions of Excel may create errors in the application. The majority of the cells in the application are "read only" and cannot be changed. |
| Do not change any "read only" cells or the application will be rejected. Do not enter formulas in any cells. |
| All cells that require input are in blue. |
| The worksheet tabs are labeled at the bottom of the workbook. The tabs in green must be completed: Contact Information, Application, Unit Mix & Rents, Financing, Development Budget, Commercial Budget, Proforma, Income & Expense, Scoring, Amenities, Cost Summary and Final Building Profile (final application only). |
| Once the green tabs have been completed the values are calculated and populated to the orange tabs. |
| Missing or incorrect data will result in an error message and a comment on the Data Issues tab. |
| All guidance related to the application process and supporting documentation can be found in the Qualified Allocation Plan (see link below). |
| Link to Qualified Allocation Plan |
| Data Issues |
| Do not submit if there are any comments other than "No Missing Data or Data Entry Errors," except for blank contacts if not applicable to this application or stage. |
| Comments for each section will be shown under the section header by the same name. |
| Contact Information |
| Complete all contact information. If not yet selected, leave blank. Do not enter N/A or TBD. |
| Disregard errors for blank contacts if not applicable to this application. |
| The nonprofit questions must be answered if the nonprofit status is to be recognized. |
| With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority does not discriminate on the basis of race, color, religion, sex (including gender, gender identity, sexual orientation, and sexual harassment), age, national origin, disability, or any other protected classification under federal, state, or local law. |
| Application |
| Every question in blue must be answered by entering an alpha/numeric value or selecting from the drop-down menu. |
| Unit Mix & Rents |
| Totals are provided on the Tax Credit Details tab beginning at row 109. |
| Rent and Income limits are calculated based on the county in which the development is located. |
| Total number of units - enter a numeric value |
| Utility Allowance - complete for each bedroom sizethat is applicable |
| Utilities Included in Rent - use the drop-down menu |
| Rental Income Table - use the drop-down menu for columns A and B, and enter numeric values in columns C, D and E |
| If units are market rate, select 100% from the Income Level drop-down menu. |
| Financing |
| Totals are provided on the Tax Credit Summary tab beginning at row 48. |
| Construction Loan Amount - enter loan value |
| Construction Loan Rate - enter loan rate |
| Residential Loan(s) |
| Amortized loans begin at row 8 - enter: source, amount, interest rate, term, amortization, approval |
| Cash Flow loans begin at row 15 - enter: source, amount, interest rate, term, approval |
| Grants begin at row 23 - enter: source, amount |
| Other, Deferred Developer Fee begin at row 37 - enter numeric value |
| Commercial Loans |
| Amortized loans begin at row 44 - enter: source, amount, interest rate, term, amortization, approval |
| Cash Flow loans begin at row 51 - enter: source, amount, interest rate, term, approval |
| Grants begin at row 61 - enter: source, amount |
| Other, Deferred Developer Fee begin at row 73 - enter numeric value |
| Development Budget |
| Totals are provided on the Tax Credit Summary tab beginning at row 66 and the Budget Output tab at row 6. |
| Budget amounts are entered in column B. |
| 4% Basis Limit Calculations are entered in column C. |
| 9% Basis Limit Calculations are entered in column D. |
| Helpful hint: use Copy/Paste FX to remove formulas before submitting application |
| Amounts last provided to CHFA are entered in column E. |
| 10% Carryover Actual Incurred Costs are entered in column F. Note: this is only completed at Carryover for federal 9% Housing Tax Credit applications. |
| Commercial Budget |
| Totals are provided on the Budget Output tab beginning at row 126. |
| Complete this worksheet if there is a retail or commercial component to the development. |
| Proforma, Income & Expense |
| Proforma totals are provided on the Tax Credit Details tab beginning at row 183. |
| Income totals are provided on the Tax Credit Details tab beginning at row 166. |
| Expense totals are provided on the Tax Credit Summary tab beginning at row 86. |
| Proforma - enter values, if applicable, for Partnership Management Fees, Asset Management Fees, Cash Flow Notes and Other, for years 1 through 15 |
| Row 6 must be completed if there is a Deferred Developer Fee. |
| Income - enter values, if applicable, for Laundry, Parking, Other and Annual Retail/Commercial Income |
| Expense - enter value, if applicable, for Administration, Operations, Maintenance, Fixed Expenses and Total Per- Unit Annual Replacement Reserves |
| Requesting waiver of PUPA requirement - make selection using drop-down menu |
| Tax Credit Details |
| Data will populate once the Green tabs are entered correctly. |
| Tax Credit Summary |
| Data will populate once the Green tabs are entered correctly. |
| Budget Output |
| Data will populate once the Green tabs are entered correctly. |
| Contact Output |
| Data will populate once the Green tabs are entered correctly. |
| Scoring |
| Documentation must be provided to support all points claimed. |
| Complete at all stages. |
| Data will populate once all questions are answered and the Application and Unit Mix & Rents tabs have been completed. |
| Amenities |
| Complete all sections and questions. |
| Use the drop-down menu to select "yes" for the amenities that are included in the development. |
| Cost Summary |
| Complete all questions. |
| Gross Square Foot (GSF) unit of measurement of a building from outside the exterior walls. Example: an office building that is 100'x100' as measured by outside walls has an area of 10,000 gross square feet. |
| Net Rentable Square Footage (NRSF) Net Leasable Area in a building or project, floor space that may be rented to tenants. The area upon which rental payments are based. Residential Units: Interior Walls, no porches or balconies, only living space. Generally excludes common areas and space devoted to the heating, cooling and other equipment of a building. Common Space: hallways, stairways, roof deck or terraces, leasing area, major vertical penetration, storage space. Example: a building with 10 floors, each containing 3,000 square feet of space, may have a net leasable area of 25,000 square feet. Elevators, hallways, etc. absorb the remaining 5,000 square feet. |
| Final Building Profile |
| Complete for the "Final" stage only. |
| Totals are provided on line 104. Totals must match the application. |
| Complete one row for each building in the development. |
| Rent & Income Limits |
| CHFA Income and Rent Tables are based on HUD limits and will be updated when new limits are released. |
| Calculations |
| For reference on how calculations are performed |
| CDOH Worksheets (DevCosts, OpPro, Financing CDOH) |
| Only relevant when applying for CDOH funds (light blue tabs) |
| Data will populate once the application is complete. |
| RELEASE NOTES: |
| 01/02/2018 - 2018 v 1.0: New Application Release |
| 01/09/2018 - 2018 v 1.1: New Application Release |
| 02/08/2018 - 2018 v 1.2: New Application Release |
| 03/23/2018 - 2018 v 1.3.: New Application Release |
| 05/04/2018 - 2018 v 2.: New Application Release |
| 5/30/2018- 2018 v 2.1.1: New Application Release |
| 08/01/2018 - 2018 v. 2.2: New Application Release |
| 12/2/2019 - 2020 v.2.1: New Application Release |
| 12/11/2020 2021 V.3: New Application Release |
| 4/16/2021 - 2021 V.3.2: New Application Release |
https://www.chfainfo.com/rental-housing/housing-credit/qualified-allocation-plan Data Issues
| Missing or Incorrect Data |
| Contact Information Worksheet |
| No Missing Data or Data Entry Errors |
| Application Worksheet |
| A 'Yes' value for 'Additional 5% Developer Fee Boost for PSH Units' in cell B107 is not permitted unless units are targeting Homeless in cell B115. |
Enter a date for 'Close Acquisition (if applicable)' in cell B129.
Enter a date for 'Submit Milestone Documention for State AHTC' in cell B133.
Enter a date for 'Groundbreaking Ceremony (if planned)' in cell B137.
Enter a date for 'Grand Opening (if planned)' in cell B143.
| Unit Mix & Rents Worksheet |
| No Missing Data or Data Entry Errors |
| Financing Worksheet |
| No Missing Data or Data Entry Errors |
| Development Budget Worksheet |
| No Missing Data or Data Entry Errors |
| Commercial Budget Worksheet |
| No Missing Data or Data Entry Errors |
| Proforma, Income & Expense Worksheet |
| 0 |
| Scoring Worksheet - complete at Preliminary Application Only |
| No Missing Data or Data Entry Errors |
| Amenities Worksheet |
| No Missing Data or Data Entry Errors |
| Cost Summary Worksheet |
| No Missing Data or Data Entry Errors |
| Final Building Profile Worksheet |
| TRUE |
Contact Information Project Contacts If a Development team member hasn't been selected, please leave blank.
| With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority does not discriminate on the basis of race, color, religion, sex (including gender, gender identity, sexual orientation, and sexual harassment), age, national origin, disability, or any other protected classification under federal, state, or local law. | |
| Applicant to be Published on Reports | |
| Organization | Aurora Housing Authority |
| Contact First Name | Dayna |
| Contact Last Name | Ashley-Oehm |
| Phone (10 #'s only) | 3039299591 |
| Email | dashleyoehm@aurorahousing.org |
Applicant Contact for Application Questions Paula Harrison: The entity that is applying for Housing Credits for a Project pursuant to this QAP. The Applicant shall Control the Owner of the Project and shall not be a single purpose entity. Project consultants and other like professionals shall not be considered Applicants.
| Organization | Aurora Housing Authority |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Dayna |
| Contact Last Name | Ashley-Oehm |
| Phone (#'s only) | 7202512068 |
| Email | dashleyoehm@aurorahousing.org |
| Please identify the racial/ethnic composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | Executive Leadership Team is 56% white, 11% Asian, 11% Black or African American, 11% Hispandic, Latino or Spanish Origin, and 11% Spain/Spanish |
| Please identify the gender composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | Executive Leadership Team is 56% Female and 44% male |
| Additional Applicant Questions | |
| Entity Type | Public Housing Authority |
| Has the applicant, or other principals of the development's ownership entity, previously received tax credits in Colorado? | Yes |
| If "Yes", indicate development name and year. | Walden35 2020, Peoria Crossing II 2021, Liberty View 2020, Peoria Crossing, 2017; Village at Westerly Creek 3, 2017; Village at Westerly Creek 2, 2015; Village at Westerly Creek 1, 2012 |
| Has the applicant, or other principals of the development's ownership entity, previously received tax credits in other states? | No |
| If "Yes", indicate year(s). | not applicable |
| Has the applicant placed any developments in service, in any state? | Yes |
| If "Yes", who is/are the limited partners using the credits? | |
| Name | Address (Street, City, State, Zip) |
| Enterprise/VWC1, VWC2, VWC 3 and Summersong | 110 16th Street, Suite 1301, Denver, CO 80203 |
| Regions/JPMorgan Chase /Peoria Crossing 1 | 3275 W/ 14th Ave, Suite 202, Denver, CO 80204 |
| Boston Financial/Connections at 6th Ave | 1 Boston Place, Suite 2011, Boston, MA 02108 |
| Boston Financial/Liberty View | 101 Arch Street, Boston, MA 02110 |
| Wells Fargo/Walden 35 | 550 South Tryon Street, 23rd Floor |
Charlotte, NC 28202
| Describe any default, disposition of or status of default, foreclosure or findings of non-compliance for any of the developments listed on attachments. |
| List all the limited partners of the ownership entity and their percentage of interest (once formed or if applicable) |
Kaylen Lanser: With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority does not discriminate on the basis of race, color, religion, sex (including gender, gender identity, sexual orientation, and sexual harassment), age, national origin, disability, or any other protected classification under federal, state, or local law.
| Applicant Entity | Limited Partner(s) Names | Ownership Percentage (must total 100%) |
| Aurora Housing Authority | TBD SanctuaryonPotomacLLLP | 100.00% |
| List all the general partners of the ownership entity and their percentage of interest (once formed or if applicable) | | |
| General Partner(s) Name | Managing Member(s) Names | Ownership Percentage of the general partnership (must total 100%) |
| TBD SanctuaryonPotomac GP LLC | Housing Authority of the City of Aurora | 1.00% |
| TBD Investor Limited Partner | | 99.99% |
| Developer Contact | |
| Organization (Common Name) | Housing Authority of the City of Aurora |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | Co |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Dayna |
| Contact Last Name | Ashley-Oehm |
| Phone (#'s only) | 7202512068 |
| Email | dashleyoehm@aurorahousing.org |
| Name(s) and State(s) of previous LIHTC properties | Liberty View, Peoria Crossing, Colorado; Connections at 6th, Colorado, Village at Westerly Creek I, II, II Colorado |
| Please identify the racial/ethnic composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | Executive Leadership Team is 56% white, 11% Asian, 11% Black or African American, 11% Hispandic, Latino or Spanish Origin, and 11% Spain/Spanish |
| Please identify the gender composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | Executive Leadership Team is 56% Female and 44% male |
| Syndicator/Investor | |
| Organization | Enterprise Housing Credit Investments |
| Address | 1035 Osage St., Suite 1125 |
| City | Denver |
| State | CO |
| Zip (first five #'s only) | 80204 |
| Contact First Name | Brian |
| Contact Last Name | Windley |
| Phone (#'s only) | 3035731591 |
| Email | bwindley@enterprisecommunity.com |
| State TC Syndicator/Investor | |
| Organization | Sugar Creek Capital |
| Address | 17 W. Lockwood Ave |
| City | St. Louis |
| State | MO |
| Zip (first five #'s only) | 63119 |
| Contact First Name | Yolanda |
| Contact Last Name | Marshall |
| Phone (#'s only) | 7202913991 |
| Email | ymarshall@sugarcreekcapital.com |
Ownership Entity (if formed, required for Carryover, PIS/Final and CHFA Loan) Paula Harrison: The single purpose entity that is awarded Housing Credits for a Project pursuant to this QAP and which owns or will own the Project; the Owner shall be Controlled by the Applicant.
Paula Harrison: The entity that is applying for Housing Credits for a Project pursuant to this QAP. The Applicant shall Control the Owner of the Project and shall not be a single purpose entity. Project consultants and other like professionals shall not be considered Applicants.
| Organization | TBD Sanctuary on Potomac, LLLP |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Craig |
| Contact Last Name | Maraschky |
| Phone (#'s only) | 7202512077 |
| Email | cmaraschky@aurorahousing.org |
| Name(s) and State(s) of previous LIHTC properties | not applicable |
| Please identify the racial/ethnic composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | not applicable |
| Please identify the gender composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | not applicable |
| Legal Status | Legal Status: Limited Liability Limited Partnership |
| Tax ID Number (#'s only or leave blank if not formed yet) | |
| Status of Entity | To be Formed |
| Participating Nonprofit or PHA | | |
| Organization | Housing Authority of the City of Aurora | (Character Limit: 300 - List common name only.) |
| Address | 2280 S. Xanadu Way | |
| City | Aurora | |
| State | Co | |
| Zip (first five #'s only) | 80014 | |
| Contact First Name | Dayna | |
| Contact Last Name | Ashley-Oehm | |
| Phone (#'s only) | 7202512068 | |
| Email | dashleyoehm@aurorahousing.org | |
| Legal Status | Legal Status: Public Housing Authority | |
| Tax ID Number | 741977541 | |
| Additional Participating Non-Profit or PHA Questions | | |
| Does the applicant intend to request an allocation of tax credits from the nonprofit set-aside portion of the state credit ceiling under Section 42(h)(5)? Select "Yes" if claiming points under Applicant Characteristics of the Scoring criteria. Only applicable for 9% Competitive Tax Credit | No | |
| Is the nonprofit or PHA assured of owning an interest in the development throughout the compliance period? | Yes | |
| Describe in detail the nonprofit or PHA ownership interest | Aurora Housing Authority will be the sole member of the GP; GP will be .01% partner | |
| Describe the nonprofit or PHA material participation in the development | The Housing Authority is the Developer and owner | |
| Describe the nonprofit or PHA material participation in the operation of the development throughout the extended use period | The Housing Authority is the Developer and Property Manager | |
| Will the nonprofit or PHA receive any part of the development or management fees paid in connection with the development? | Yes | |
| If "Yes", explain; if "No" skip to row 131 | AHA will receive the developer fee and ongoing property management fees. | |
| How many full-time staff members does the nonprofit or PHA have? | 55 | |
| Describe the type and extent of their activities | AHA has staff working in the following Departments: Development, Property Management, Housing & Family Services, Finance and Human Resources | |
| Has any for-profit entity (including the owner of the development or any entity directly or indirectly related to such owner) appointed any directors to the governing board of the nonprofit? | No | |
| If "Yes", explain | | |
| Does the nonprofit have any financial arrangements with any individual(s) of for-profit entity, including anyone or any entity related, directly or indirectly, to the owner of the development? | No | |
| If "Yes", explain | | |
| Date of legal formation of nonprofit or PHA | 2/24/75 | |
| Purpose(s) of formation of nonprofit | The Housing Authority of the City of Aurora, Colorado (AHA) was established by action of the Aurora City Council in February of 1975. Ordinance 75-34 was passed on February 24, 1975 and amended by Ordinance 75-69 dated June 9, 1975. | |
The Housing Authority team led by Executive Director Craig A. Maraschky includes but is not limited to property managers, maintenance technicians, and administrative staff. AHA is committed to providing safe, decent, affordable housing to our community and proudly serves many different groups including:
Working families Single parents Disabled residents Seniors Homeless Veterans Disclose any business or personal (including family) relationships that any of the staff members, directors or other principals involved in the formation or operation of the nonprofit have, either directly or indirectly, with any persons or entities involved or to be involved in the development on a for-profit basis including, but not limited to, the owner of the development, any of its for-profit general partners, employees, limited partners or any other parties directly or indirectly related to such owner. None
| 3rd Party Estimator | |
| Organization | Deneuve Construction |
| Address | 2344 Spruce St. |
| City | Boulder |
| State | CO |
| Zip (first five #'s only) | 80302 |
| Contact First Name | Marty |
| Contact Last Name | Johnson |
| Phone (#'s only) | 3035152242 |
| Email | mjohnson@deneuveconstruction.com |
| General Partner | |
| Organization | TBD Sanctuary on Potomac GP LLC |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | CO |
| Zip | 80014 |
| Contact First Name | Craig |
| Contact Last Name | Maraschky |
| Phone (#'s only) | 7202512077 |
| Email | cmaraschky@aurorahousing.org |
| Name(s) and State(s) of previous LIHTC properties | none |
| Please identify the racial/ethnic composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | Executive Leadership Team is 56% white, 11% Asian, 11% Black or African American, 11% Hispandic, Latino or Spanish Origin, and 11% Spain/Spanish |
| Please identify the gender composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | Executive Leadership Team is 56% Female and 44% male |
| General Contractor | |
| Organization | TBD/Deneuve Construction |
| Address | 2344 Spruce St. |
| City | Boulder |
| State | CO |
| Zip (first five #'s only) | 80302 |
| Contact First Name | David |
| Contact Last Name | Garabed |
| Phone (#'s only) | 3035152236 |
| Email | dgarabed@deneuveconstruction.com |
| Name(s) and State(s) of previous LIHTC properties | Avenida del Sol, DHA Shoshone, The Stella, El Rancho Flats, Attentino Homes PSH |
| Please identify the racial/ethnic composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | 100% caucasian american |
| Please identify the gender composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | 100% male |
| Management Company | |
| Organization | Aurora Housing Authority |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Cindy |
| Contact Last Name | Gonzalas |
| Phone (#'s only) | 3037314808 |
| Email | cgonzales@aurorahousing.org |
| Name(s) and State(s) of previous LIHTC properties | see Aurora Housing Authority information |
| Please identify the racial/ethnic composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | see Aurora Housing Authority information |
| Please identify the gender composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | see Aurora Housing Authority information |
| Fee/Turnkey Developer | |
| Organization | not applicable |
| Address | not applicable |
| City | not applicable |
| State | not applicable |
| Zip (first five #'s only) | not applicable |
| Contact First Name | not applicable |
| Contact Last Name | not applicable |
| Phone (#'s only) | not applicable |
| Email | not applicable |
| Name(s) and State(s) of previous LIHTC properties | not applicable |
| Please identify the racial/ethnic composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | not applicable |
| Please identify the gender composition of your organization's ownership (for profit) or executive leadership (nonprofit) whichever is applicable | not applicable |
| Consultant (specify) | |
| Organization | Affordable Advisors LLC |
| Type of Consultant | Financial |
| Address | 7600 E. Gunnison Place |
| City | Denver |
| State | CO |
| Zip (first five #'s only) | 80231 |
| Contact First Name | Mark |
| Contact Last Name | Welch |
| Phone (#'s only) | 3039026426 |
| Email | mark@affordable-advisors.com |
| Consultant (specify) | |
| Organization | TBD |
| Type of Consultant | not applicable |
| Address | not applicable |
| City | not applicable |
| State | not applicable |
| Zip (first five #'s only) | not applicable |
| Contact First Name | not applicable |
| Contact Last Name | not applicable |
| Phone (#'s only) | not applicable |
| Email | not applicable |
| Consultant (specify) | |
| Organization | TBD |
| Type of Consultant | not applicable |
| Address | not applicable |
| City | not applicable |
| State | not applicable |
| Zip (first five #'s only) | not applicable |
| Contact First Name | not applicable |
| Contact Last Name | not applicable |
| Phone (#'s only) | not applicable |
| Email | not applicable |
| Tax Attorney Firm | |
| Organization | New Communities Law |
| Address | 1919 14th St., Suite 700 |
| City | Boulder |
| State | CO |
| Zip (first five #'s only) | 80302 |
| Contact First Name | Ben |
| Contact Last Name | Doyle |
| Phone (#'s only) | 7207927844 |
| Email | Ben.Doyle@newcommunitieslaw.com |
| CPA Firm | |
| Organization | Comer Knowling |
| Address | 8606 Allisonville Road, Suite 210 |
| City | Indianapolis |
| State | IN |
| Zip (first five #'s only) | 46250 |
| Contact First Name | Greg |
| Contact Last Name | Nowling |
| Phone (#'s only) | 3178413393 |
| Email | gnowling@comerknowling.com |
| Architect Firm | |
| Organization | Davis Partnership Architects |
| Address | 2910 Blake St., Suite 100 |
| City | Denver |
| State | CO |
| Zip (first five #'s only) | 80205 |
| Contact First Name | Patrick |
| Contact Last Name | Lee |
| Phone (#'s only) | 3033082506 |
| Email | Patrick.Lee@davispartnership.com |
| Permanent Lender | |
| Organization | FirstBank of Colorado |
| Address | 2300 S. Havana St. |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Jennifer |
| Contact Last Name | Dunn |
| Phone (#'s only) | 7202801589 |
| Email | Jennifer.Dunn@efirstbank.com |
| Commercial Lender | |
| Organization | Not applicable |
| Address | Not applicable |
| City | Not applicable |
| State | Not applicable |
| Zip (first five #'s only) | Not applicable |
| Contact First Name | Not applicable |
| Contact Last Name | Not applicable |
| Phone (#'s only) | Not applicable |
| Email | Not applicable |
| Construction Lender | |
| Organization | FirstBank of Colorado |
| Address | 2300 S. Havana St. |
| City | Aurora |
| State | CO |
| Zip | 80014 |
| Contact First Name | Jennifer |
| Contact Last Name | Dunn |
| Phone (#'s only) | 7202801589 |
| Email | Jennifer.Dunn@efirstbank.com |
| Environmental Phase I Preparer | |
| Organization | Strategic Environmental Management LLC |
| Address | 5030 S Fulton St. |
| City | Greenwood Village |
| State | CO |
| Zip (first five #'s only) | 80111 |
| Contact First Name | Partick |
| Contact Last Name | Lee |
| Phone (#'s only) | 7208412200 |
| Email | patlee@strategicenviro.com |
| Capital Needs Report Preparer | |
| Organization | Not applicable |
| Address | Not applicable |
| City | Not applicable |
| State | Not applicable |
| Zip (first five #'s only) | Not applicable |
| Contact First Name | Not applicable |
| Contact Last Name | Not applicable |
| Phone (#'s only) | Not applicable |
| Email | Not applicable |
| Green Consultant | |
| Organization | Group14 Engineering, PBC |
| Address | 1325 East 16th Avenue |
| City | Denver |
| State | CO |
| Zip (first five #'s only) | 82018 |
| Contact First Name | Michael |
| Contact Last Name | Levinson |
| Phone (#'s only) | 7202211077 |
| Email | mlevinson@group14eng.com |
| Bond Purchaser | |
| Organization | FirstBank of Colorado |
| Address | 2300 S. Havana St. |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Jennifer |
| Contact Last Name | Dunn |
| Phone (#'s only) | 7202801589 |
| Email | Jennifer.Dunn@efirstbank.com |
| Bonds are Public or Private Placement | Bonds are Private Placement |
| Bond Issuer (if not CHFA) | |
| Organization | Aurora Housing Authority |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Craig |
| Contact Last Name | Maraschky |
| Phone (#'s only) | 7202512077 |
| Email | cmaraschky@aurorahousing.org |
| Bond Counsel (if not CHFA) | |
| Organization | Sherman & Howard |
| Address | 633 Seventeenth St, Ste 3000 |
| City | Denver |
| State | CO |
| Zip (first five #'s only) | 80202 |
| Contact First Name | Cory |
| Contact Last Name | Kalanick |
| Phone (#'s only) | 3032998373 |
| Email | ckalanick@shermanhoward.com |
| Mayor/Elected Official/Jurisdiction | |
| City/Jurisdiction Name | City of Aurora |
| Title of Elected Official | Mayor |
| Address | 15151 E. Alameda Parkway |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80012 |
| Contact First Name | Mike |
| Contact Last Name | Coffman |
| Phone (#'s only) | 3037397000 |
| Email | mcoffman@auroragov.org |
| Council Member | |
| Jurisdiction Name | City of Aurora/Ward I |
| Title of Elected Official | Councilmember |
| Address | 15151 E. Alameda Parkway |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80012 |
| Contact First Name | Crystal |
| Contact Last Name | Murillo |
| Phone (#'s only) | 3037397502 |
| Email | cmurillo@auroragov.org |
| City Manager (if applicable) | |
| Jurisdiction Name | City of Aurora |
| Address | 15151 E. Alameda Parkway |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80012 |
| Contact First Name | Jason |
| Contact Last Name | Batchelor |
| Phone (#'s only) | 3037397010 |
| Email | citymanager@auroragov.org |
| City Planner | |
| Jurisdiction Name | City of Aurora |
| Address | 15151 E. Alameda Parkway, Suite 2300 |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80012 |
| Contact First Name | Liz |
| Contact Last Name | Fuselier |
| Phone (#'s only) | 3037397450 |
| Email | efuselie@auroragov.org |
| Local Housing Authortity | |
| Organization | Aurora Housing Authority |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Executive Director Contact First Name | Craig |
| Executive Director Contact Last Name | Maraschky |
| Phone (#'s only) | 7202512077 |
| Email | cmaraschky@aurorahousing.org |
| Guarantees | |
| Construction/Completion Guarantee | |
| Organization | Aurora Housing Authority |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Craig |
| Contact Last Name | Maraschky |
| Phone (#'s only) | 7202512077 |
| Email | cmaraschky@aurorahousing.org |
| Lease Up Guarantee | |
| Organization | Aurora Housing Authority |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Craig |
| Contact Last Name | Maraschky |
| Phone (#'s only) | 7202512077 |
| Email | cmaraschky@aurorahousing.org |
| Operating Deficit Guarantee | |
| Organization | Aurora Housing Authority |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Craig |
| Contact Last Name | Maraschky |
| Phone (#'s only) | 7202512077 |
| Email | cmaraschky@aurorahousing.org |
| Compliance Guarantee | |
| Organization | Aurora Housing Authority |
| Address | 2280 S. Xanadu Way |
| City | Aurora |
| State | CO |
| Zip (first five #'s only) | 80014 |
| Contact First Name | Craig |
| Contact Last Name | Maraschky |
| Phone (#'s only) | 7202512077 |
| Email | cmaraschky@aurorahousing.org |
Application
| 2024 Housing Tax Credit Application | | |
| Application Version | 2024 V6.2 - release date June 2024 | |
| Application Date | 7/12/24 | |
| Reservation Year | 2024 | The year applied for credit |
| Application Stage | Preliminary Application | |
| Is Supplemental Credit being requested? | N/A | Not applicable for preliminary applications |
| Are you requesting a CHFA DDA Basis Boost? | No | CHFA Boost requests must be made at preliminary application. For carryover or final applications please answer "Yes" if granted a CHFA basis boost. |
| Identity of Interest | No Identity of Interest | |
| Type Of Tax Credit | 9% Competitive and State Tax Credit | |
| Type of State Tax Credit (if applicable) | Standard | |
| Project Type | New Construction | |
| Is this an existing LIHTC property | No | |
| Locking Applicable Percentage? | N/A | Only applicable for carryover or final applications |
| Federal Equity Factor | $ 0.8600 | |
| State Equity Factor | $ 0.7000 | |
| 9% Applicable Percentage Rates (APR) | 9.00% | |
| Rehab/Construction 4% Applicable Percentage Rates (APR) | 4.00% | |
| Acquisition 4% Applicable Percentage Rates (APR) | 4.00% | |
| Lock-in gross rent floor | N/A | Only applicable for carryover or final applications |
| Lock-in gross rent floor Date | | |
| Enter Last Building Placed in Service Date | | Only applicable for final applications, leave blank if not applicable |
| Development Information | | |
| Name | Sanctuary on Potomac | |
| Address | 1280 S. Potomac Street | |
| City | Aurora | |
| Zip | 80012 | |
| County | Arapahoe | |
| Census Tract | TRACT: 080700 | |
| State Senate District | 29 | |
| State House District | 41 | |
| Congressional District | 6 | |
| Site Control | Option | |
| Identify current Owner/Seller/Lessor | Aurora Mental Health and Recovery | |
| Related Party? | No | |
| If yes please explain related party | n/a | |
| Is the site properly zoned? | Yes | If "Yes", provide evidence of the Zoning Status. If "No", provide a detailed narrative of the Zoning Status describing the process for re-zoning, including the estimated dates for completion of the re-zoning process. |
| Does Zoning meet parking ratio requirements? | Yes | |
| If no please explain parking ratio | | |
| Are all utilities available for the development? | Yes | |
| Heating Type In-Unit | Heat Pump | |
| Heating Type Common Area | Other Electric Heat System | |
| Cooling Type In-Unit | Other Cooling System | |
| Cooling Type Common Area | Other Cooling System | |
| HVAC System In-Unit | HVAC Ssytem In-Unit | |
| Hot Water Heating Type | Gas | |
| Ventalation System | Balanced Ventilation with Energy or Heat Recovery | |
| All-Electric Development | No | |
| Electrification-Ready Development | Yes | |
| Green Systems | PV Ready | |
| Type of Energy Efficiency Certification | NGBS Bronze | |
| Radon Mitigation | Passive | |
| Water-Wise Landscaping | Yes | |
| Number of Residential Building(s) | 1 | Number values only |
| Number of Floors in the Tallest Building | 4 | Number values only |
| Building Construction | Slab on Grade | |
| Building Type | Elevator | |
| Parcel Size (Site Acres) | 0.70 | Number values only |
| Common Space Square Footage | 15,193 | Number values only |
| Commercial Space Square Footage | - 0 | Number values only |
| Type of Units/Housing | Multi-Family Apartments | |
| Federal Assistance | Yes | Enter "Yes" for tax exempt bond projects |
| USDA Rural Development Sect. 515 | No | |
| USDA Rural Development Sect. 514 (Farmworker) | No | |
| FHA Insurance-221(d)(4) | No | |
| FHA Insurance 223 (f) | No | |
| FHA Insurance-Risk-Sharing | No | |
| Tax Exempt Bond Financing | No | |
| Bond Issuer Name | | |
| Enter the Total Amount of A Bonds being issued | | Number values only, leave blank if N/A |
| Enter the Total Amount of B Bonds being issued | | Number values only, leave blank if N/A |
| Enter the Total Amount of C Bonds being issued | $ - 0 | Number values only, leave blank if N/A |
| Enter the Total Amount of Recycled Bonds being issued | $ - 0 | Number values only, leave blank if N/A |
| Enter name of Entity Transferring Bond Cap | 0 | Only available for 4% private activity bond |
| Enter the Total Amount of Bond Cap Being Transferred | $ - 0 | Only available for 4% private activity bond |
| Taxable Bond Financing | No | |
| Enter the Total Amount of Taxable Bonds being issued | $ - 0 | Number values only, leave blank if N/A |
| Federal Historic Rehabilitation Tax Credits | n/a | |
| Enter the federal historic credit amount | | Number values only, leave blank if N/A |
| State Historic Rehabilitation Tax Credits | No | |
| Enter the state historic credit amount | | Number values only, leave blank if N/A |
| Solar Tax Credits/ETC | No | |
| Enter the Amount of the Solar Tax Credit | $ - 0 | Number values only, leave blank if N/A |
| 45L Energy Efficiency Home Credit | No | |
| Enter the Amount of the 45L EEH Credit | $ - 0 | Number values only, leave blank if N/A |
| Investment Tax Credit (ITC) | No | |
| Enter the Amount of the ITC | $ - 0 | Number values only, leave blank if N/A |
| 100% Project-based rental assistance (HAP Contract) | Yes | |
| McKinney Act Homeless Funding | No | |
| HOME Funding | Yes | |
| CDBG DR Funding | No | |
| FHLB Affordable Housing Program Funding | No | |
| CDBG Funding | No | |
| Project-based Vouchers | Yes | Examples would be HCV, Shelter Plus Care or VASH Vouchers, etc. |
| Enter the Number of Project-based Vouchers | 43 | Number values only, leave blank if N/A |
| State Funds - HDG | No | |
| State Funds - HSP | No | |
| State Funds - DOH Vouchers | No | |
| Voucher Administrator(s) | | |
| Number of Vouchers | 0 | Number values only, leave blank if N/A |
| Type of Vouchers | | |
| State Funds - Other (please describe) | ARPA | |
| Additional 5% Developer Fee Boost for PSH Units | Yes | |
| Targeting of Units | Number of Units (must equal total units) | |
| Assisted Living | 0 | |
| Special Populations | 0 | |
| Family | 0 | |
| Homeless (not PSH) | 0 | |
| Older Adult | 0 | |
| Veterans | 0 | |
| Permanent Supportive Housing | 43 | |
| For Projects with both New Construction and Acq/Rehab or Rehab | Number of Units (must equal total units) | |
| New Construction | 43 | |
| Acq/Rehab or Rehab | 0 | |
| Timeline (enter a date for each element below) | | |
| APPLICATION STEPS | | |
| Letter of Intent & Market Analyst Engagement Letter to CHFA | 12/1/23 | |
| Submit Housing Credit Application & Market Study to CHFA | 2/1/24 | |
| Housing Credit Application Approval/Reservation | 5/15/24 | |
| FINANCING STEPS | | |
| Inducement Resolution | | n/a for 9% |
| Final Authorizing Resolution | | n/a for 9% |
| Construction Loan Closing | | n/a for 9% |
| Close Acquisition (if applicable) | | |
| All Loans Closed | 5/1/25 | |
| Execute Partnership Agreement | 5/1/25 | |
| Submit Carryover Application for 9% Project | 6/15/25 | 9% only |
| Submit Milestone Documention for State AHTC | | State credit only |
| CONSTRUCTION STEPS | | |
| Complete Construction Drawings approved by Planning/Building Dept. | 8/15/24 | |
| Final Site Plan Approval | 11/21/24 | |
| Groundbreaking Ceremony (if planned) | | |
| Building Permit(s) Issued | 11/15/24 | |
| Complete Construction & Anticipated Place-In-Service | | |
| (Obtain Certificates of Occupancy) | 9/1/26 | | |
| Enter Estimated Construction Period (Months) | 16 | |
| POST-CONSTRUCTION STEPS | | |
| Place-In-Service Application for LURA to CHFA (must submit within 45 days of first building placing in service) | 10/15/26 | |
| Grand Opening (if planned) | | |
| Stabilization/Lease up | 3/1/27 | |
| Convert to Permanent Loan | 7/1/27 | |
| Final Application to CHFA | 9/1/27 | |
Unit Mix & Rents
| Unit Mix & Rents | |
| Total Number of Units | 43 |
| Do Rents Include Utilities | Yes |
| Utility Allowance by Bedroom Size - ONLY ENTER TENANT-PAID UTILITIES | | | | | |
| 0 bedroom | $ - 0 | | | | |
| 1 bedroom | $ - 0 | | | | |
| 2 bedroom | $ - 0 | | | | |
| 3 bedroom | $ - 0 | | | | |
| 4 bedroom | $ - 0 | | | | |
| 5 bedroom | $ - 0 | | | | |
| For the Rental Income Table below, the applicant must select Income level in column A, select type of unit in column B, enter unit square footage in Column C, number of units in Column D and actual rent in Column E. The bathroom count must be a whole number based on the number of toilets. DO NOT LEAVE BLANK SPACES BETWEEN ROWS OF DATA. | | | | | |
| Income Level | Type of Unit | Unit Size (sq. ft.) | # of Units | Actual Rent per Unit | Show me the maximum allowable rents |
| 30% | 1 Bed 1 Bath Subsidized | 492 | 33 | $ 1,538 | |
| 40% | 1 Bed 1 Bath Subsidized | 492 | 0 | $ 1,538 | |
| 50% | 1 Bed 1 Bath Subsidized | 492 | 10 | $ 1,538 | |
| 60% | 1 Bed 1 Bath Subsidized | 492 | 0 | $ 1,538 | |
Financing
| Development Financing | | | | | | |
| Construction Loan Amount | $ 12,000,000 | | | | | |
| Construction Loan Rate | 6.4000% | | | | | |
| Project Funded without Permanent Debt | No | | | | | |
| Residential Loans (amortizing) | | | | | | |
| Source of Loan | Amount of funds | Interest Rate | Term of Loan | Amortization (Years) | Approval | |
| First Mortgage | $ 3,500,000 | 6.400% | 16 | 35 | Pending | Show me annual debt |
| Total | $ 3,500,000 | | | |
| Residential Loans (cash flow only) | | | | |
| Source of Loan | Amount of funds | Interest Rate | Term of Loan | Approval |
| City of Aurora ARPA | $ 1,000,000 | 1.000% | 35 | Committed |
| Arapahoe County HOME ARP | $ 1,200,000 | 1.000% | 35 | Pending |
| Arapahoe County HOME | $ 600,000 | 1.000% | 35 | Pending |
| Total | $ 2,800,000 |
| Residential Grants | |
| Source of Grant | Amount of funds |
| Total | $ - 0 | | | |
| Residential Other | | | | |
| Source | Amount of funds | | | |
| Deferred Developer Fee | $ 1,200,000 | | | |
| Other Owner Equity | $ 220,264 | | | |
| Additional Amount to cover GAP | $ - 0 | If applicable, please enter the amount of additional Owner Funds needed to either reduce the CHFA DDA Boost to 30% or the Annual Credit Amount to $1,350,000. | | |
| Total | $ 1,420,264 | | | |
| Residential Grand Total | $ 7,720,264 | | | |
| Commercial Loans (amortizing) | | | | |
| Source of Loan | Amount of funds | Interest Rate | Term of Loan | Amortization (Years) |
| Total | $ - 0 | | |
| Commercial Loans (cash flow only) | | | |
| Source of Loan | Amount of funds | Interest Rate | Term of Loan |
| Total | $ - 0 |
| Commercial Grants | |
| Source of Grant | Amount of funds |
| Total | $ - 0 |
| Commercial Other | |
| Source | Amount of funds* |
| Deferred Developer Fee | $ - 0 |
| Other Owner Equity | $ - 0 |
| Total | $ - 0 |
| Commercial Grand Total | $ - 0 |
| *only enter amount of funds for those that apply | |
Development Budget
| Development Budget (for Residential Development Costs only) | | | | | | |
| Please do no enter formulas in any column below. Applications with formulas will not be accepted. | | | | | |
| Land & Buildings | Amount | 4% LIHTC Basis Calculation | 9% LIHTC Basis Calculation | Amount Last Provided to CHFA* | 10% Carryover Actual Incurred Costs | Explain changes greater than 10% * |
| Land | $ 1,000,000 | | | $ - 0 | $ - 0 | |
| Existing Structures | $ - 0 | $ - 0 | | $ - 0 | $ - 0 | |
| Demolition | $ - 0 | | | $ - 0 | $ - 0 | |
| $ 1,000,000 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Site Work | | | | | | |
| On Site Work | $ 794,909 | $ - 0 | $ 794,909 | $ - 0 | $ - 0 | |
| Off Site Work | $ 300,000 | | | $ - 0 | | |
| $ 1,094,909 | $ - 0 | $ 794,909 | $ - 0 | $ - 0 | |
| Rehab. & New Construction | | | | | | |
| New Structures | $ 10,580,412 | $ - 0 | $ 10,580,412 | $ - 0 | $ - 0 | |
| Rehabilitation | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Accessory Structures (CSF, storage, garage(s)) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Green Systems (Solar, Geothermal, Other, etc.) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| General Requirements | $ 1,151,449 | $ - 0 | $ 1,151,449 | $ - 0 | $ - 0 | |
| Contractor Overhead | $ 263,797 | $ - 0 | $ 263,797 | $ - 0 | $ - 0 | |
| Contractor Profit | $ 263,797 | $ - 0 | $ 263,797 | $ - 0 | $ - 0 | |
| Contractor Construction Contingency | $ 628,088 | $ - 0 | $ 628,088 | $ - 0 | $ - 0 | |
| Owner Hard Cost Contingency | $ 705,356 | $ - 0 | $ 705,356 | $ - 0 | $ - 0 | |
| Furniture, Fixtures, & Equipment | $ 281,989 | $ - 0 | $ 281,989 | $ - 0 | $ - 0 | |
| Building Permits | $ 25,000 | $ - 0 | $ 25,000 | $ - 0 | $ - 0 | |
| Pre-construction GC services | $ 35,000 | $ - 0 | $ 35,000 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| $ 13,934,888 | $ - 0 | $ 13,934,888 | $ - 0 | $ - 0 | |
| Professional Fees | | | | | | |
| Architect, Design | $ 634,342 | $ - 0 | $ 634,342 | $ - 0 | $ - 0 | |
| Architect Construction Management/Admin | $ 140,965 | $ - 0 | $ 140,965 | $ - 0 | $ - 0 | |
| Landscape Design | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Structural Engineering | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Civil Engineering | $ 50,000 | $ - 0 | $ 50,000 | $ - 0 | $ - 0 | |
| Other Engineering | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Surveyor | $ 25,000 | $ - 0 | $ 25,000 | $ - 0 | $ - 0 | |
| Attorney, Real Estate | $ 50,000 | $ - 0 | $ 50,000 | $ - 0 | $ - 0 | |
| Green Consultant | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Green Charrette | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Construction Accounting | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| $ 900,307 | $ - 0 | $ 900,307 | $ - 0 | $ - 0 | |
| Construction Interim Costs | | | | | | |
| Hazard & Liability Insurance | $ 80,539 | $ - 0 | $ 80,539 | $ - 0 | $ - 0 | |
| Builder's Risk Insurance | $ 139,465 | $ - 0 | $ 139,465 | $ - 0 | $ - 0 | |
| Perform. & Pymt Bonds | $ 101,505 | $ - 0 | $ 101,505 | $ - 0 | $ - 0 | |
| Construction Interest | $ 614,400 | $ - 0 | $ 307,200 | $ - 0 | $ - 0 | |
| Constr. Origination Fees | $ 87,000 | $ - 0 | $ 87,000 | $ - 0 | $ - 0 | |
| Tap Fees (Water/Sewer) | $ 817,000 | $ - 0 | $ 817,000 | $ - 0 | $ - 0 | |
| Impact fees | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Materials Testing | $ 50,000 | $ - 0 | $ 50,000 | $ - 0 | $ - 0 | |
| Power and Telecom Provider fees | $ 50,000 | $ - 0 | $ 50,000 | $ - 0 | $ - 0 | |
| 3rd Party/Bank Inspections/Admin | $ 20,000 | $ - 0 | $ 20,000 | $ - 0 | $ - 0 | |
| Title & Recording | $ 40,000 | $ - 0 | $ 40,000 | $ - 0 | $ - 0 | |
| Construction Lender Legal Fees | $ 50,000 | $ - 0 | $ 50,000 | $ - 0 | $ - 0 | |
| Prop. Taxes During Construction | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Bridge Loan | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Bond Issuance Costs amortized during construction | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| $ 2,049,909 | $ - 0 | $ 1,742,709 | $ - 0 | $ - 0 | |
| Permanent Financing | | | | | | |
| Bond Premium | $ - 0 | | | $ - 0 | | |
| Bond Issue 30-day lag reserve | $ - 0 | | | $ - 0 | | |
| Bond Cost of Issuance | $ - 0 | | | $ - 0 | | |
| Discount Points | $ - 0 | | | $ - 0 | | |
| Perm Loan Origination | $ 33,000 | | | $ - 0 | | |
| Credit Enhancement | $ - 0 | | | $ - 0 | | |
| Title & Recording | $ 30,000 | | | $ - 0 | | |
| Legal Fees | $ 20,000 | | | $ - 0 | | |
| Prepaid MIP | $ - 0 | | | $ - 0 | | |
| Forward Rate Lock | $ 33,000 | | | $ - 0 | | |
| Conversion Fee | $ - 0 | | | $ - 0 | | |
| Other (Specify) | $ - 0 | | | $ - 0 | | |
| Other (Specify) | $ - 0 | | | $ - 0 | | |
| Other (Specify) | $ - 0 | | | $ - 0 | | |
| $ 116,000 | | | $ - 0 | | |
| Soft Costs | | | | | | |
| Marketing/Leasing Costs | $ - 0 | | | $ - 0 | | |
| Cost Estimating/Capital Needs Assessment | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Geotechnical/Soils Study | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Appraisal | $ 10,000 | $ - 0 | $ 10,000 | $ - 0 | $ - 0 | |
| Market Study | $ 10,000 | $ - 0 | $ 10,000 | $ - 0 | $ - 0 | |
| Environmental Study (Phase 1, Phase 2, Lead, Asbestos, etc.) | $ 5,000 | $ - 0 | $ 5,000 | $ - 0 | $ - 0 | |
| Other Studies (traffic, wetlands, etc.) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Tax Credit Fees | $ 111,500 | | | $ - 0 | $ - 0 | |
| Compliance Fees | $ 21,500 | | | $ - 0 | $ - 0 | |
| Cost Certification | $ 12,000 | $ - 0 | $ 12,000 | $ - 0 | $ - 0 | |
| Green Certification Fees (LEED Certification, etc.) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Relocation - Temporary | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Relocation - Permanent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Soft Cost Contingency | $ 75,000 | $ - 0 | $ 75,000 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| $ 245,000 | $ - 0 | $ 112,000 | $ - 0 | $ - 0 | |
| Syndication Costs | | | | | | |
| Organization Costs | $ - 0 | | | | | |
| Tax Opinion | $ - 0 | | | $ - 0 | | |
| Syndication Legal Fees | $ 90,000 | | | $ - 0 | | |
| Other (Specify) | $ - 0 | | | $ - 0 | | |
| Other (Specify) | $ - 0 | | | $ - 0 | | |
| Other (Specify) | $ - 0 | | | $ - 0 | | |
| $ 90,000 | | | $ - 0 | | |
| Developer Fees | | | | | | |
| Developer Fee | $ 2,400,000 | $ - 0 | $ 2,400,000 | $ - 0 | $ - 0 | |
| Developer Overhead | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| Developer Profit | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| PSH developer fee boost (up to 5%) | $ 235,000 | $ - 0 | $ 235,000 | $ - 0 | $ - 0 | |
| Third Party Development Management/Owner's Rep | $ 250,000 | $ - 0 | $ 250,000 | $ - 0 | $ - 0 | |
| Financial/Tax Credit Consultant, Application Preparation, etc. | $ 85,000 | $ - 0 | $ 85,000 | $ - 0 | $ - 0 | |
| Other Consultant Fees | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |
| $ 2,970,000 | $ - 0 | $ 2,970,000 | $ - 0 | $ - 0 | |
| Project Reserves | | | | | | |
| Rent-up Reserves | $ 32,250 | | | $ - 0 | | |
| Operating Reserves | $ 337,001 | | | $ - 0 | | |
| Replacement Reserves | $ - 0 | | | $ - 0 | | |
| Debt Service Reserves | $ - 0 | | | $ - 0 | | |
| Other (Specify) | $ - 0 | | | $ - 0 | | |
| Other (Specify) | $ - 0 | | | $ - 0 | | |
| $ 369,251 | | | $ - 0 | | |
| Total | $ 22,770,264 | $ - 0 | $ 20,454,813 | $ - 0 | $ - 0 | |
| *Not Applicable for Preliminary Application | | | | | | |
Commercial Budget
| Commercial Development Budget | | | |
| Please do no enter formulas in any column below. Applications with formulas will not be accepted. | | |
| Land & Buildings | Amount | Amount Last Provided to CHFA* | *Not applicable for initial application |
| Land | $ - 0 | $ - 0 | |
| Existing Structures | $ - 0 | $ - 0 | |
| Demolition | $ - 0 | $ - 0 | |
| $ - 0 | $ - 0 | |
| Site Work | | | |
| On Site Work | $ - 0 | $ - 0 | |
| Off Site Work | $ - 0 | $ - 0 | |
| $ - 0 | $ - 0 | |
| Rehab. & New Construction | | | |
| New Structures | $ - 0 | $ - 0 | |
| Rehabilitation | $ - 0 | $ - 0 | |
| Accessory Structures | $ - 0 | $ - 0 | |
| General Requirements | $ - 0 | $ - 0 | |
| Contractor Overhead | $ - 0 | $ - 0 | |
| Contractor Profit | $ - 0 | $ - 0 | |
| Construction Contingency | $ - 0 | $ - 0 | |
| Building Permits | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| $ - 0 | $ - 0 | |
| Professional Fees | | | |
| Architect, Design | $ - 0 | $ - 0 | |
| Architect, Supervision | $ - 0 | $ - 0 | |
| Attorney, Real Estate | $ - 0 | $ - 0 | |
| Consultant/agent | $ - 0 | $ - 0 | |
| Engineer/Surveyor | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other-Accounting | $ - 0 | $ - 0 | |
| $ - 0 | $ - 0 | |
| Construction Interim Costs | | | |
| Hazard & Liability Insurance | $ - 0 | $ - 0 | |
| Builder's Risk Insurance | $ - 0 | $ - 0 | |
| Perform. & Pymt Bonds | $ - 0 | $ - 0 | |
| Credit Report | $ - 0 | $ - 0 | |
| Construction Interest | $ - 0 | $ - 0 | |
| Constr. Origination Fees | $ - 0 | $ - 0 | |
| Tap Fees (Water/Sewer) | $ - 0 | $ - 0 | |
| Bond Cost of Issuance | $ - 0 | $ - 0 | |
| Impact Fees | $ - 0 | $ - 0 | |
| Title & Recording | $ - 0 | $ - 0 | |
| Legal Fees | $ - 0 | $ - 0 | |
| Prop. Taxes during const | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| $ - 0 | $ - 0 | |
| Permanent Financing | | | |
| Bond Premium | $ - 0 | $ - 0 | |
| Bond Issue 30-day lag reserve | $ - 0 | $ - 0 | |
| Discount Points | $ - 0 | $ - 0 | |
| Perm Loan Origination | $ - 0 | $ - 0 | |
| Credit Enhancement | $ - 0 | $ - 0 | |
| Title & Recording | $ - 0 | $ - 0 | |
| Legal Fees | $ - 0 | $ - 0 | |
| Prepaid MIP | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| $ - 0 | $ - 0 | |
| Soft Costs | | | |
| Feasibility Study | $ - 0 | $ - 0 | |
| Market Study | $ - 0 | $ - 0 | |
| Environmental Study | $ - 0 | $ - 0 | |
| Tax Credit Fees | $ - 0 | $ - 0 | |
| Compliance Fees | $ - 0 | $ - 0 | |
| Appraisal | $ - 0 | $ - 0 | |
| Cost Certification | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| $ - 0 | $ - 0 | |
| Syndication Costs | | | |
| Organization Costs | $ - 0 | $ - 0 | |
| Bridge Loan | $ - 0 | $ - 0 | |
| Tax Opinion | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| Other - Accounting | $ - 0 | $ - 0 | |
| $ - 0 | $ - 0 | |
| Developer Fees | | | |
| Developer Fee | $ - 0 | $ - 0 | |
| Developer Overhead | $ - 0 | $ - 0 | |
| Developer Profit | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| $ - 0 | $ - 0 | |
| Project Reserves | | | |
| Rent-up Reserves | $ - 0 | $ - 0 | |
| Operating Reserves | $ - 0 | $ - 0 | |
| Replacement Reserves | $ - 0 | $ - 0 | |
| Escrows | $ - 0 | $ - 0 | |
| Other (Specify) | $ - 0 | $ - 0 | |
| $ - 0 | $ - 0 | |
| Total | $ - 0 | $ - 0 | |
Scoring Scoring
| Section 1: Primary Selection Criteria | | |
| Low Income Targeting (See Section 5.A.1. of the Allocation Plan for CHFA requirements under this Criteria.) | | |
| Threshold | 40% at 60% of Area Median Income | Points are weighted based upon number of units in % of Median Income (Weights: 60% = 50, 50% = 72.5, 40% = 92.5) |
| | | 70% and 80% AMI units are not eligible for credit unless Average Income is selected. |
| Targeting 30% or less of area median income (See Section 5.A.1.c. of the Allocation Plan for eligibility requirements for making this selection) | | |
| Very, Very Low-Income Targeting | None | 10% = 5 points, 20% = 10 points, 30% = 15 points |
| Extended Low-Income Use | | |
| Extended Low-Income Use | 15 Years Compliance + 25 Year Waiver | Waiver: 15 year = 30 points, 25 year = 38 points |
| Community Revitalization Plan (See Section 5.A.4. of the Allocation Plan for CHFA requirements under this Criteria.) | | |
| Development is located in a qualified census tract, the development of which contributes to a concerted Community Revitalization Plan. (A community revitalization plan is defined in Section 5.A.4. of the Allocation Plan for CHFA requirements under this Criteria) | No | Yes = 1 point |
| Note: Additional points will be awarded for "Score related to Household Percentage below 51% AMI with Housing Problems" (refer to C1 Table) and "Score related to the number of All Households with Housing Problems" (refer to C2 Table). To view points awarded for each please see Tax Credit Details sheet. | | |
| Section 2: Secondary Selection Criteria (See Section 5.B.2. of the Allocation Plan for CHFA requirements under this Criteria.) | | |
| Development Location (Please select Option A or B as described below) | | |
| OPTION A: Development is located in a community that has an identified community housing priority; e.g. supports a local, regional or state plan, a neighborhood plan, or some other community-sponsored needs assessment, master plan, etc. Applicant must provide that the project fits into the community's needs and provide evidence, clearly demonstrating the project fits into the community's needs. | | |
| OPTION B: To be located at an existing or under construction Transit Oriented Design (TOD) site, which is defined as a site which is within one half mile walk distance of public transportation such as bus, rail and light rail. | OPTION A | OPTION A = 5 points, OPTION B = 5 points | |
| Development Characteristics | | |
| Development that provides housing for a mix of incomes by having no more than 80% tax credit-eligible units. | No | Yes = 5 points |
| Developments located in non Metro counties that have a population of 180,000 or less. | No | Yes = 5 points |
| Rehabilitation of blighted buildings or locally or federally designated historic structures. See Section 5.B.3.c. of the Allocation Plan for the definition of "blighted buildings". | No | Yes = 5 points |
| Acquisition/ Rehabilitation of a Preservation Development. See Section 5.B.3.d. of the Allocation Plan for the definition of a "Preservation Development". | No | Yes = 15 points |
| No Smoking Policy. Projects that will institute a no smoking policy for 100% of the project, which includes anywhere inside the building or on the grounds of the property. The policy needs to be provided at time of application. | No | Yes = 1 point |
| Projects maximizing construction efficiency by utilizing factory-built construction, prefabricated components. | No | Yes = 5 points |
| Applicant Characteristics | | |
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