Professional Documents
Culture Documents
Project Description
Project Name: Wind Song Apartments
Address: 4160 Lake Ave
Will the project meet Energy Star standards as defined in Appendix B? Yes
Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77?
No
If yes, please describe:
Applicant Information
Indicate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. Under
QAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant
must become part of the ownership entity. The applicant will execute the signature page for this application.
Applicant Name: RHA Housing Inc
Address: 3060 Peachtree RD NW Suite 900
Telephone: (404)364-2937
Fax: (404)760-3443
Site Description
Identify utilities and services currently available (and with adequate capacity) for this site:
Is the site directly accessed by an existing, paved, publicly maintained road? Yes
If no, please explain:
Is any portion of the site located inside the 100 year floodplain? No
If yes:
(a) Describe placement of project buildings in relation to this area:
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
Site Control
Does the owner have fee simple ownership of the property (site/buildings)?No
If yes provide:
If no:
(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?Yes
(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for
purchase of the property and the seller of the property?No
If yes, specify the relationship:
(c) Enter the current expiration date of the option/contract to purchase: 3/31/2009
Zoning
Present zoning classification of the site:Multifamily Low Density Conditional District
Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?Yes
If yes, have the hearings been completed and permits been obtained?No
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for
obtaining them:
The property must be rezoned to Multifamily Medium Density Conditional District. Rezoning Application
presented in January 21, 2009 Planning Board Meeting on March 4,2009, City Council Approval April 7,
2009
Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office
review?No
If yes, describe below:
Are there any existing conditions of environmental significance located on the project site?No
If yes, describe below:
Ownership Entity
Unit Mix
The Median Income for New Hanover county is $57,600.
Statistics
Market Rate.......
Totals............... 75 8 35141
Project Includes:
Separate community building - Sq. Ft. (Floor Area):
Indicate below any additional targeting for special populations proposed for this project:
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal and
state codes.)
Number of Units: 8
Number of Units: 8
Notes
** Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low
income units are within established thresholds.
Targeting
Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to
create another row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.
# BRs Units %
Note: This number should match the total number of low income units in the Unit Mix section.
Funding Sources
Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service
RD 515 Loan
AHP Loan
Non-Repayable Grant
Owner Investment
Other - Specify:
* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt
service below.
** Total Sources must equal total replacement cost in Project Development Cost (PDC) section.
RPP Loan
1 2 3 4 5 6 7 8 9 10
Year:
Amt: 23977 23450 22863 22216 21505 20727 19880 18960 17965 16891
11 12 13 14 15 16 17 18 19 20
Year:
Amt: 15735 14493 13162 11738 10217 8595 6869 5033 3083 1016
Year: 1 2 3 4 5 6 7 8 9 10
Amt: 12375 12103 11800 11466 11099 10698 10261 9786 9272 8718
Year: 11 12 13 14 15 16 17 18 19 20
Amt: 8121 7480 6793 6058 5273 4436 3545 2598 1591 524
Development Costs
Eligible Basis
Item Cost Element TOTAL COST
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only)
4 Rehabilitation
6 Accessory Building(s)
24 Bond Costs
26 Placement Fee
33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 48,448
39 Relocation Expense
Comments:
Other:
Screened in porch and porte-cochere,anti-fungal architectural shingles
Have you built other tax credit developments that use the same building design as this project?No
If yes, please provide name and address:
Site Amenities:
Landscaped patio area with fountain, picnic area with grill, garden area, walking trail, gazebo, sitting areas
with benches.
Onsite Activities:
The project includes the following amenities multiuse room with kitchen, parlor,craft room, library computer
room, exercise room, upstairs sitting area, screened in porch,management office, laundry areas, and tenant
storage rooms.
Landscaping Plans:
The site is a naturally wooded and the developer is going to make every effort to save as many existing
trees as possible to add to the project's landscaping. The perimeter of the building will be landscaped with
evergreen shrubs, the main entrance to the building will have combination of shrubbery, perrenial and
annual flower beds and the project sign will be landscaped with shrubs and seasonal flower beds. The site
will also include a picnic area and gazedo which will have appropriate shade trees and landscaping. The
site will include a landscaped patio area with a fountain and patio tables with unbrellas.
Do you plan to submit additional market data (market study, etc.) that you want considered? Yes
If yes, please make sure to include the additional information in your pre-application packet.
NEIGHBORHOOD CHARACTERISTICS
Trend and direction of real estate development and area economic health. Physical condition of buildings and
improvements in the immediate vicinity. Concentration of affordable housing.
The Lake Ave neighborhood is a mixture of residential uses (single family homes, multifamily housing,
townhouses, condominiums and assisted living developments for seniors). The neighborhood was
developed in the 60's and 70's with single family homes. Many of these well maintained single family homes
still exist. Because the neighborhood is located in the center of New Hanover County and convenient to
major shopping areas and the two hospitals, in recent years (since 1990's) developers have been acquiring
property and building the variety of housing types found in the neighborhood. The quality of these housing
developments has helped the neighborhood sustain its long reputation in Wilmington as a desirable
community to live in. There is no known other affordable housing within two miles of the site.
SURROUNDING LAND USES AND AMENITIES
Land use pattern is residential in character (single and multifamily housing). Extent that the location is
isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:
wastewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distribution
facilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,
sources of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount and
character of vacant, undeveloped land. According to the city planners, this type of development fits nicely
with the land use plan and residential character of this area. The site is surrounded by a townhouse
development to the west and single family homes to the north, south and east. Entering Lake Avenue from S.
College Road will take you past three new condomininium complexes ranging from small to medicum
density. From the site, continuing on Lake Avenue, West, will take you to an established and well maintained
neighborhood of brick ranches. Further down 41st Street, the crossroad of Lake Ave, you will come upon
new construction independent and assisted living facilities. There are no known environmental concerns,
railroad tracks, towers,factories or other incompatible land uses in the site vicinity.
SITE SUITABILITY
Adequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilities
(particularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project sign
(s) in relation to traffic corridors. The site is perfectly located for seniors in the Wilmington area. It is in almost
the center of Wilmington and offers an easy choice to the children of Seniors who would like to see their
parent(s)in a safe, established neighborhood. Lake Avenue is a two lane road between South College Road
and 41st Street. The South College Road intersection is a lighted one and allows residents to go straight into
Hugh McRae Park, right towards the Senior Center and shopping or left towards the intersection of S.
College Road and Oleander for additional shopping options. The intersection of 41st Street and Lake Avenue
is a stop sign, reflecting the modest traffic volume on 41st from Oleander. You have the option of going
straight on 41st Street towards Independence Mall, turning right towards Oleander, where there is a lighted
intersection to ease you onto Oleander in either direction, as well as a convenience store on the corner.
Going left onto 41st Street will lead you to a lighted intersection at Shipyard Blvd. You can go left and be at
Long Leaf Mall or go right for numerous medical offices and banks.
Degree of on-site negative features and physical barriers that will impede project construction or adversely
affect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, large
boulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-
suitability for residential use and difficulties posed by the building(s), such as limited parking, environmental
problems or the need for excessive demolition).
There are no negative features or physical barriers that will impede project construction or adversely affect
future tenants as described above. The site has a slight topography and can easily be designed to meet
ADA standards withou steps or ramps.
For each applicable neighborhood feature, enter distance from project in miles.
.1 Public Transportation
.2 Schools
Stop
Longleaf Mall has a craft and home goods store, grocery store, salon, shoe repair, McDonald's and kids
indoor play station within one mile of the site.
New Hanover Regional Medical Center is also conveniently located and about 3.0 miles from the site. There
are numerous doctors offices all along the route there and surround the facility.
In addition to the Rite Aid at Longleaf Mall there is a CVS and Walgreens, as well as a Visionworks located
within a mileof the site at the intersection of College Road and Oleander.
UNC-Wilmington is 1.5 miles from the site on College Road as well as another Lowe's Foods, Lowe's Home
Improvement,Sam's and many other retailers and restaurants.
Independence/Westfield Mall (1.0 mile)and the Hanover Shopping Center are easily accessed through the
neighborhood backroads. From the site, cross 41st street and continue on Lake Ave till you get to Halifax.
Turn right and it will take you to Fordahm. Turn right and you are immediately upon the Lowe's Foods on
your right and the mall on your left. Across the street is Hanover Shopping center which houses a K & W
cafeterain, Steinmart, shoe stores, Harris Teeter, Pier 1, Office Depot and at least 5 banks in the area. To
get across Oleander there is a stoplight and to enter into the mall, you will use that same stoplight which
has a green arrow for ease and safety. Another green arrow light from Oleander, takes you into the mall.
The following enclosures must be submitted along with your signed preliminary application. Some enclosures are required only under
certain conditions. Please check each applicable item to indicate that you understand the enclosure requirements and will enclose the
correct supporting documentation with your application.
Fee Payment
Check in the amount of $5,450.00 made payable to North Carolina Housing Finance Agency.
Tab A - Preliminary Application
Printed, signed copy of preliminary application generated from online system.
B - Map/Driving Instructions
A local map clearly identifying the location of the Site and detailed directions to the Site. Current City or County maps are preferred
– internet maps and directions are not acceptable. Applicant must also provide a map identifying the amenities listed in section IV
(A)(1)(b)(ii) of the QAP and their proximity to the site.
Applicant must provide a sign and boundary markers to clearly identify the road frontage of the site. The sign identifying the site
should read “SITE” with a minimum size of 11x17.
C - Community Revitalization Plan
Applicant should provide a map identifying the subject site within the Plan area (if applicable).
D - Evidence of Site Control
Provide valid option/contract or warranty deed and plot plan.
E - Site Plans/Scope of Work
Preliminary site plan, floor plans and elevations for all projects, interior and exterior photographs and detailed scope of work for
Adaptive Reuse and Rehab projects. Site and floor plans should be no larger than 11x17 and must be produced by a licensed
architect or engineer.
F - Information Package for Market Analysts
This section must include copies of items required in Tabs A, B, E and G (site and floor plans should be no larger than 11x17) and
can include any additional market information such as preliminary market studies the applicant would like to provide to the
Analysts.
G - Rent Roll (Rehabs only)
Provide the current rent roll for the property and indicate which units (if any) are receiving rental assistance.
H - Documentation for Basis Boost
Applicant should provide an appraisal and/or standard geological survey to support a request for the basis boost (if applicable).