Please note that a One Stop application may be submitted in lieu of the Consortium's application; however, Section 5- Threshold Scoring System- of the Consortium's application must be submitted along with the One Stop.
1. Name of Applicant: __________________________________________________
Address: ________________________________________________________
________________________________________________________
Corporate Status (check):
[ ] Chapter 180 [ ] 501 (c)(3) [ ] Other (specify) __________________
(Please attach copies of Articles of Incorporation & By-Laws if not already on file w/CCC)
Contact Person: __________________________________________________
Title: _________________________________ Phone: (___)______________
E-Mail: _______________________________
PROJECT INFORMATION:
Use Category (*check all applicable categories)
[ ] Family Housing
[ ] Special Needs Housing
[ ] Other ___________________________
Name of Project: ______________________________________________________
Location: ______________________________________
Site Acreage: _____________________
Total Development Cost:__________
Total Building(s) square footage: ______________
Construction costs (site work, buildings, and contingency) per square foot: $______
3. OCCUPANCY:
Affordability/# Of Units
4. AMOUNT OF HOME FUNDS REQUESTED:
Acquisition/Rehab $_______________
Adaptive re-use of non-residential structure $_______________
New Construction $_______________
Will project require HOME funds during construction phase? Y __ N __
If this project is Special Needs Housing, please indicate who the provider of services would be.
5. NUMBER OF POINTS (FROM SECTION 5): ___________
SECTION 1: DEVELOPER INFORMATION
A) NON-PROFIT DEVELOPER
Please provide, as attachments or appendices, the following basic information about the non-profit developer. This information does not need to be generated in an original form; copies of relevant sections from sources such as an organization's basic funding proposals are adequate as long as the needed information is conveyed.
1. Governing structure - description of current membership and board; process for selecting board.
2. List of current directors and officers.
3. Organizational history, especially in housing and community development.
4. Organization's development strategy - goals and objectives.
5. Financial profile - provide current year's operating budget and most recent audited financial statements.
6. Evidence of Chapter 180 and 501(c)(3) tax status.
B) FOR-PROFIT DEVELOPER
Please provide, as attachments or appendices, the following basic information about the for-profit developer. This information does not need to be generated in an original form; copies of relevant sections from sources such as an organization's basic funding proposals are adequate as long as the needed information is conveyed.
1. Corporation Papers - identifying owner and/or general partners.
2. Resumes of the owner and/or general partners.
3. Federal and State tax returns for the previous three years.
4. Describe past experience in developing affordable housing.
5. Provide three lender references. Lenders should be familiar with applicant's professional development experience, and not just the applicant's credit worthiness.
SECTION 2: PROJECT INFORMATION
Please answer the questions listed below.
1. Site/Zoning: Describe the site (size, topography, current use, etc.) in narrative. Describe what factors went into selecting this location. Indicate current zoning, and describe any zoning changes, environmental approvals, or other regulatory approval required to implement the proposed development program. Indicate if building(s) are historic structures or a contributing resource in a historic district. Document evidence of local municipal regulatory approvals granted, and describe support or resistance from neighborhood organizations, abutters or municipal regulatory/permitting authorities. Provide documentation of the site's appropriateness for the proposed development program (zoning, regulatory, historical and environmental).
2. Site and Unit Plans, Maps: Provide one set of site plan, locus map, floor plans and elevations. Include on the plans or below the square footage of the various unit types.
3. Site Control: Provide status of ownership, and describe plans to acquire site control. If site control has been established, provide evidence of option, purchase and sale or title.
4. Affordability Profile/Sales Price Schedule: Complete the chart in Section 4, B. 1.
5. Purpose of Assistance Requested: Describe how the type and amount of funding requested from HOME will further the progress of the proposed project.
6. Proposed Development Schedule (Proposed Dates):
Submission of Financing Applications _______________________________
Regulatory & Zoning Reviews & Approvals __________________________
Receipt of All Financing Commitments _______________________________
Construction Start __________________
Construction Completion __________________
Full Occupancy __________________
7. Market Demand: Provide data and information that supports the demand for this project.
8. Visitability: Indicate how many units will meet visitability standards. If none, describe why.
9. Accessibility/Adaptability: Describe plans for handicapped accessibility and/or adaptability if appropriate for population to be served.
10. Energy Star: Will the project achieve the Energy Star 86 standard? If not, explain why.
11. Design Guidelines: Do the unit designs meet the standards described in the September 2003 HOME Consortium Design Guidelines? If not, please provide an explanation.
12. Special Needs: Indicate what if any special needs population will be served, why this group was chosen, and what supportive services will be provided.
13. Affirmative Action: Describe and document what steps will be taken to affirmatively solicit the selection of contractors and renters for this project. Include experience/record on affirmative action on prior projects.
SECTION 3: DEVELOPMENT TEAM
For corporate entities, provide names of principals. Attach statement of qualification for each member (if applicable and appropriate).
A. Developer Name:
Address:
Contact Person & Tel. #/e-mail:
Minority Business Enterprise (MBE) _____
Women Business Enterprise (WBE) ____
B. Other Development Partners (If private, for profit, see section below on joint ventures.)
Name:
Address:
Contact Person & Tel. #/e-mail:
MBE _____ WBE _____
C. Development Consultant
Name:
Address:
Contact Person & Tel. #/e-mail:
MBE _____ WBE _____
D. Architect
Name:
Address:
Contact Person & Tel. #/e-mail:
MBE _____ WBE _____
E. Attorney
Name:
Address:
Contact Person & Tel. #/e-mail:
MBE _____ WBE _____
F. Marketing/Lottery Agent
Name:
Address:
Contact Person & Tel. #/e-mail:
MBE _____ WBE _____
G. Joint Ventures: If the non-profit developer is involved in a joint venture with a private for-profit developer, provide evidence that the non-profit partner controls the majority interest in the joint venture.
SECTION 4: PROJECT FINANCIAL ANALYSIS
A. TOTAL DEVELOPMENT BUDGET - USES OF FUNDS
| 1. Property Acquisition | $ _______________________ | |
| 2. Direct Construction Costs ($_______/sf) | _______________________ | |
| 3. Construction Contingency (@_______%) | _______________________ | |
| SUBTOTAL- ACQUISITION/HARD COSTS | $ _______________________ | |
| 4. Architectural Design | $ ________________________ | |
| 5. Engineering Fees | ________________________ | |
| 6. Survey/Permits | ________________________ | |
| 7. Clerk of Works | _________________________ | |
| 8. Legal & Title/Recording | _________________________ | |
| 9. Development Consultant | _________________________ | |
| 10. Accounting/cost certification | ________________________ | |
| 11. Construction Loan Interest | ________________________ | |
| 12. Insurance | ________________________ | |
| 13. Real Estate Taxes | _________________________ | |
| 14. Utilities | _________________________ | |
| 15. Performance Bond | _________________________ | |
| 16. Marketing | _________________________ | |
| 17. Relocation | _________________________ | |
| 18. Financing Fees | _________________________ | |
| 19. Appraisal | _________________________ | |
| 20. Lender/OtherInspections | _________________________ | |
| 21. Other (____________) | _________________________ | |
| 22. Soft cost contingency @____% | _________________________ | |
| SUBTOTAL- SOFT COSTS | $ ________________________ | |
| 23. Developer's Fee @ ______% | ________________________ | |
| 24. Developer's Overhead @ _____% | ________________________ | |
| TOTAL DEVELOPMENT COSTS | $ ________________________ |
B. TOTAL DEVELOPMENT BUDGET - SOURCES OF FUNDS*
1) INCOME FROM SALES
| INCOME RANGE | # OF BEDROOMS | # OF UNITS | SALES PRICE | TOTAL SALES INCOME |
|---|---|---|---|---|
| Very Low Income- below 50% | 1 | |||
| 2 | ||||
| 3 | ||||
| 4 | ||||
| Low Income- 50% - 80% | 1 | |||
| 2 | ||||
| 3 | ||||
| 4 | ||||
| Moderate Income- 80% - 120% | 1 | |||
| 2 | ||||
| 3 | ||||
| 4 | ||||
| Market Rate- 120%+ | 1 | |||
| 2 | ||||
| 3 | ||||
| 4 | ||||
| TOTAL SALES REVENUE |
TOTAL SALES REVENUE $ ___________________________
2) SUBORDINATE DEBT
a) Lender's Name: _________________________________________
Address: _________________________________________________
__________________________________________________
Amount: $________________________
Term: ________________________
Rate: ________________________
b) Lender's Name: ___________________________________________
Address: ___________________________________________________
___________________________________________________
Amount: $ ________________________
Term: ________________________
Rate: ________________________
c) Lender's Name: ___________________________________________
Address: ___________________________________________________
___________________________________________________
Amount: $ ________________________
Term: ________________________
Rate: ________________________
TOTAL SUBORDINATE DEBT $ ___________________________
3) PRIVATE EQUITY
| a) Developer cash | $ ________________ | |
| b) Developer Fee/OH- Loaned/Grant | _________________ | |
| c) Other | _________________ | |
| TOTAL PRIVATE EQUITY | $ __________________ |
4) PRIVATE/PUBLIC GRANTS
| Source: __________________ | Amount: $ _________________ |
| Source: __________________ | Amount: __________________ |
| Source: __________________ | Amount: __________________ |
| TOTAL GRANTS | $____________________ |
| TOTAL PERMANENT SOURCES | $ ___________________ |
* Attach commitment letters, or letter of interest with plan and schedule for obtaining commitment
CONSTRUCTION PERIOD FINANCING
a) Construction Lender's Name: _________________________________
Address: _________________________________
_________________________________
Amount: $________________________
Term: ________________________
Rate: ________________________
Repaid at: _______________________________
b) Lender's Name: _________________________________
Address: _________________________________
_________________________________
Amount: $ ________________________
Term: ________________________
Rate: ________________________
Repaid at: ________________________
c) Lender's Name: _________________________________
Address: _________________________________
_________________________________
Amount: $ ________________________
Term: ________________________
Rate: ________________________
Repaid at: ________________________
SECTION 5: THRESHOLD SCORING SYSTEM
Complete the following form to determine your analysis of the project's ability to meet the 50 point minimum scoring threshold (see Section 2.K of the application guidelines). Consortium staff will perform its own analysis and will contact the applicant should there be different results.
| 1. Rental/Ownership | __________ |
| 2. Rehab or redevelopment/New Construction | __________ |
| 3. Meets Energy Star 86 guidelines | __________ |
| 4. % Project Affordability | __________ |
| 5. Income targeting- affordable units | ___________ |
| 6. % units handicapped accessible | ___________ |
| 7. % units visitable | ___________ |
| 8. MBE/WBE members on development team | ___________ |
| 9. Project wastewater | ___________ |
| 10. Permanent displacement | ____________ |
| 11. Total development costs per unit | ____________ |
| 12. Total development costs per square foot | ____________ |
| TOTAL POINTS: | _____________ |
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