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Low Income Housing Tax Credit Application for Reservation

o Electronic Copy of the Microsoft Excel Based Application (MANDATORY)



o Hard Copy of All Application Pages With Signature (MANDATORy)

o Scanned Copy of the Tax Credit Application with all Attachments (excluding market study and plans & specs) (MANDATORY o $750 Application Fee (MANDATORY)

Tab A: Documentation of Development Location:

D A.I Qualified Census Tract Certification

o A.2 Revitalization Area Certification

o Location Map

o Surveyor's Certification of Proximity To Public Transportation

o Tab B: Partnership or Operating Agreement, including chart of ownership structure with percentage of interests (MANDATOR

o Tab C: Virginia State Corporation Commission Certification (MANDATORY)

o Tab D: Principal's Previous Participation Certification and Resume (MANDATORY)

o Tab E: Nonprofit Questionnaire (MANDATORY for points or pool)

The following documents need not be submitted unless requested by VHDA: -Nonprofit Articles of Incorporation

-IRS Documentation of Nonprofit Status

-Joint Venture Agreement (if applicable)

-For-profit Consulting Agreement (if applicable)

Architect's Certification (MANDATORY) PHA / Section 8 Notification Letter

Local CEO Letter

Homeownership Plan

Site Control Documentation (MANDATORY) Plan of Development Certification Letter Zoning Certification Letter

Copies of 8609s To Certify Developer Experience (Reserved)

Plans and Specifications and Work Write-Up (MANDATORY)

Documentation of Rental Assistance

Documentation of Operating Budget

Documentation of Project Budget

Documentation of Financing Sources

(Reserved)

Nonprofit or LHA Purchase Option or Right of First Refusal Original Attorney's Opinion (MANDATORY)

(Reserved)

Marketing Plan for units meeting accessibility requirements ofHUD section 504

Market Study (MANDATORY-Application will be disqualified if market study not submitted with the application)

o TabF:

o Tab H:

o Tab I:

D TabJ:

o TabK:

o TabL: 0TabM: o TabN:

DTabO:

o TabP:

o Tab Q:

o TabR:

o Tab S:

o TabT:

DTabU:

o Tab V:

o TabW:

DTabX: o TabY: 0TabZ

2009

Submission Checklist

Low-Income Housing Tax Credit Application For Reservation

All code "Section" references are to, and the term "IRe" shall be deemed to mean, the Internal Revenue Code of 1986, as amended.

2009-Z-009

I. General Information

May 12,2009

(Date of Application)

A. Development Name and Location:

1. Name of Development

2. Address of Development

Arbelo Apartments

831-833 Bashford Lane

(Street)

Alexandria

Virginia

22314

(City)

(State)

(Zip Code)

3. If complete address is not available, provide longitude and latitude coordinates (x,y) from location on site your surveyor deems appropriate.

D Documentation from surveyor attached (TAB A) (Only necessary if street address or street intersections are not available. (Coordinates should be the same as those listed on pg 13, if applicable)

4. The Circuit Court Clerk's office in which the deed to the property is or will be recorded:

City/County of Alexandria City (ie; Richmond City, Chesterfield County; see application manual)

5. Does the site overlap one or more jurisdictional boundaries? DYes 0 No If yes, what other City/County is the site located in besides the one mentioned above?

6. Is the development located in a Metropolitan Statistical Area? 0Yes D No

7. Census Tract the development is located in: 2018.01

Is this a Qualified Census Tract: DYes 0 No (If yes, attach required form in TAB A)

8. Is the development located in a Difficult Development Area? ~

9. Is the development located in a revitalization area? 0 Yes D No (If yes, attach required form in TAB A)

10. Is the development an existing RD or HUD S8/236 development? DYes 0 No (If yes, attach required form in TAB Q)

Note: lfthere is an identity of interest between the applicant and the seller in this proposal, and the applicant is seeking points in

this category, then the applicant must either waive their rights to the developer's fee or other fees associated with acquisition and/or rehabilitation, or obtain a waiver of this requirement from VHDA prior to application submission to receive these points.

a. Applicant agrees to waive all rights to any developer's fee or

other fees associated with acquisition and/or rehab. DYes D nla

b. Applicant has obtained a waiver of this requirement from VHDA

prior to the application submission deadline. DYes D nla

11. Is the development located in a census tract with a poverty

rate <10% with no tax credit units currently present? DYes 0 No

12. Is the development listed on the RD 515 Rehabilitation

Priority List? DYes 0 No

13. Congressional District 8 http://dlsgis.state.va.uslcongressl2001PDFslchap7Tab.pdf

Planning District 8 h!to:JIwww.vapdc.orqlabou!pdcs.hbn#PDC%20Map

State Senate District 30 h!to:lldlsois.state.va.uslsenatel2001PDFslChap2Tab.odf

State House District

45

h!to:Jldlsgis.state.va.usIHouseJ2001 HousePDFslChapl Tab.pdf

14. 0 Location Map Attached (TAB A)

B. Project Description:

In the space provided below, give a brief description of the proposed project.

Substantial rehabilitation of 34 garden walk-up apartments including abandonment of central heating system, all new kitchens, new windows and roofs, development of several fully handicapped accessible units.

2009

Page 1

Low Income Housing Tax Credit Application For Reservation

C. Reservation Request

1. Total annual credit amount request (Must be the same as Part IX-D8)

$466,245

2. Credits requested from: 9% Credits

o Nonprofit Set-Aside (All nonprofit owned developments which meet tests described in Part II - D hereof may select this)

o Local Housing Authorities

o Northern Virginia MSA Pool

o Richmond MSA Pool

o Non-Competitive Pool (Preservation)

o Tidewater MSA Pool

o Small MSAlMicropolitan Pool

o Rural Pool

o Non-Competitive Pool (Disability)

o Tax Exempt Bonds

o new construction, ill

o rehabilitation, ill

o acquisition and rehabilitation.

Federal Subsidies

o The development will not receive federal subsidies.

o This development will receive federal subsidies for:

o all buildings or

o some buildings.

D. Type(s) of Allocation/Allocation Year

1. Regular Allocation

o All of the buildings in the development are expected to be placed

in service this year. For those buildings the owner will, this year, request an

allocation of 2008 credits for 0 new construction, or

o rehabilitation, or

o acquisition and rehabilitation.

2. Carryforward Allocation

o All of the buildings in the development are expected to be placed

in service within two years after the end of this calendar year, 2009, but the owner will have more than 10% basis in the development before the end of six months following allocation of credits. For those buildings, the owner requests a carryforward allocation of2009 credits pursuant to Section 42(h)(1 )(E) for:

o new construction, or

o rehabilitation, or

o acquisition and rehabilitation (even if you acquired a building this year and "placed it in service" for the purpose of the acquisition credit, you cannot receive the 8609 form for it until the rehab 8609 is issued for that building once the rehab work is "placed in service" in 2010 or 2011).

3. Federal Subsidies

o The development will not receive federal subsidies.

o This development will receive federal subsidies for:

o all buildings or

o some buildings.

2009

Page 2

Low-Income Housing Tax Credit Application For Reservation

E. Acquisition Credit Information

NOTE: If no credits are being requested for existing buildings being acquired for the development,

so indicate and go on to Part F: 0 No Acquisition

Ten-Year Rule For Acquisition Credits

o All buildings satisfy the lO-year look-back rule of IRC Section 42 (d)(2)(B), including the 10% basis/$15,000.00 rehab costs ($10,000 tor Tax Exempt Bonds) per unit requirement.

o All buildings qualify for an exception to the 10-year rule under IRC Section 42(d)(2)(D)(i),

Subsection (I) 0

Subsection (II) 0

Subsection (III) 0

Subsection (IV) 0

Subsection (V) 0

o A waiver of the 10-year rule for all buildings has been or will be requested from the Department of the Treasury pursuant to IRC Section 42(d)(6)(B)

o Different circumstances for different buildings: Attach a separate sheet and explain for each building.

F. Rehabilitation Credit Information

NOTE: Ifno credits are being requested for rehabilitation expenditures, so indicate and go

on to Section II. 0 No Rehabilitation

Minimum Expenditure Requirements

o All buildings in the development satisfy the rehab costs per unit requirement ofIRC Section 42( e )(3)(A)(ii).

o All buildings in the development qualify for the IRC Section 42(e)(3)(B) exception to the 10% basis requirement (4% credit only).

o All buildings in the development qualify for the IRC Section 42(t)(5)(B)(ii)(II) exception.

o Different circumstances for different buildings. Attach a separate sheet and explain tor each building.

2009 Page 3

Low-Income Housing Tax Credit Application For Reservation

II. OWNERSHIP INFORMATION

NOTE: VHDA may allocate credits only to the tax-paying entity which owns the development at the time of the allocation. The term "Owner" herein refers to that entity. Please fill in the legal name of the owner. The ownership entity must be formed prior to submitting this application. Any transfer, direct or indirect, of partnership interests (except those involving the admission of limited partners) prior to the placed-in-service date of the proposed development shall be prohibited, unless the transfer is consented to by VHDA in its sole discretion. IMPORTANT: The Owner name listed on this page must match exactly the owner name listed on the Virginia State Corporation Commission

Must be an individual or legally formed entity

A. Owner Information:

Name Arbelo Limited Partnership

Contact Person First: Herb

Address 8 W. Nelson Stre-e-t -- :::Su-i:-te-B~-I:----

Middle:

-------

Last: Cooper-Levy

Alexandria

(Zip Code)

(City)

223U1

Federal I. D. No. 26-4827995 (If not available, obtain prior to Allocation)

Phone 703-549-7170 Fax 703-549-7175 Email address herbcl@rpjhousing.org

Type of entity: 0 Limited Partnership D Other

D Individual(s) D Corporation

o Owner's organizational documents (e.g. Partnership agreements) attached (Mandatory TAB B)

o Certification from Virginia State Corporation Commission attached (Mandatory TAB C)

Principal(s) involved (e.g. general partners, LLC members, controlling shareholders, etc.):

Names * * Phone

Herb Cooper-Levy for Arbelo Associates, Ll 703-549-7170 Herb Cooper-Levy for Robert Pierre Johnson 703-549-7170

Housmg Development Corporation

Type Ownership managing member }llll1ted partner

This should be 100% ofthe GP or managing member interest:

% Ownership 0.01%

99.99%

0.00%

0.00%

0.00%

0.00%

0.00%

100.00%

* * These should be the names of individuals who comprise the GP or managing members, not simply the names of separate partnerships or corporations WhICh may comprise those components.

o Principals' Previous Participation Certification attached (Mandatory TAB D), resume, & ownership structure chart.

B. Seller Information:

Name Robert Pierre Johnson Housing Development Co Contact Person Herb Cooper-Levy

Address 8 W.Nelson Ave, Suite B-1 --___,,!,----=-----------

Alexandria, VA 22301 Phone

Is there an identity of interest between the seller and owner/applicant? If yes, complete the following:

Principal(s) involved (e.g. general partners, controlling shareholders, etc.)

Names Phone Type Ownership

Robert Pierre Johnson Housing Developmem 703-549-7170 fee simple

NOTE: VHDA identity of interest waiver re developer fee is on file and included with this application.

2009

703-549-7170

DYes D No

% Ownership 100.00%

0.00%

0.00%

0.00%

Page 4

Low-Income Housing Tax Credit Application For Reservation

C. Development Team Information:

Complete the following as applicable to your development team.

1.

Tax Attorney:

Firm Name:

Address:

Phone:

2.

Tax Accountant:

Firm Name:

Address:

Phone:

3.

Consultant:

Firm Name:

Address:

Phone:

Christopher Hornig Related Entity? DYes 0 No

TKT1I-ei~n'H~o-rn~ig----=---------------------------

1275 K St., NW, Suite 1200, Washington, DC 20005

Fax: 202-842-3936

-----------------------------------------

202-842-9006

Related Entity? DYes 0 No

-----------------------------------------

To be determined

Fax:

-----------------------------------------

Roberta Ujakovich Related Entity?

Southport Financial Services, Inc. Role: Advisor

2430 Estancia Boulevard - Suite 101, Clearwater, FL 33761 ---------------------

DYes 0 No

727-669-3660; 202-723-4351 Fax:

4. Management Entity (Contact): Terry Newton Related Entity? 0 Yes D No

Firm Name: RPJ Housing Development Corporation of National Capital Area, Inc.

Address: 8 W. Nelson Ave., Suite B-1, Alexandria, VA 22301

Phone: 703-549-7170 Fax: 703-549-7175

DYes 0 No

Contractor (Contact): To be determined Related Entity?

Firm Name: -------------------------------------

Address:

Phone:

5.

6.

Architect:

Firm Name:

Address:

Phone:

7.

Real Estate Attorney:

Firm Name:

Address:

Phone:

Fax:

----------------------------------------

John Maisto Related Entity? DYes 0 No

EDG Architects

3 Bethesda Metro Center, Suite 110, Bethesda, MD 20814

301-654-0058 Fax: 301-907-7814

Related Entity?

------------------------------------

DYes D No

Fax:

----------------------------------------

DYes D No

Mortgage Banker: To be determined Related Entity?

Firm Name: ----------------------------------------

Address:

Phone:

8.

9.

Other (Contact):

Firm Name:

Address:

Phone:

2009

Fax:

----------------------------------------

Related Entity? ----------------------------------------Role:

DYes D No

Fax:

-----------------------------------------

Page 5

Low-Income Housing Tax Credit Application For Reservation

D. Nonprofit Involvement:

Applications For 9% Credits - Must be completed in order to compete in the nonprofit tax credit pool. All Applicants - Must be completed for points for nonprofit involvement under the ranking system.

Tax Credit Nonprofit Pool Applicants: To qualify for the nonprofit pool, an organization described in IRC Section 501

(c)(3) or 501 (c)(4) and exempt from taxation under IRC Section 501 (a), whose purposes include the fostering of low-income housing:

I. Must "materially participate" in the development and operation of the project throughout the compliance period,

2. Must own all general partnership interests in the development.

3. Must not be affiliated with or controlled by a for-profit organization.

4. Must not have been formed for the principal purpose of competition in the nonprofit pool, and

5. Must not have any staff member, or member of the nonprofit's board of directors materially participate in the proposed project as a for-profit entity.

All Applicants: To quality for points under the ranking system, the nonprofit's involvement need not necessarily satisfy all of the requirements for participation in the nonprofit tax credit pool.

1. Nonprofit Involvement (All Applicants)

If there is no nonprofit involvement in this development, please indicate by checking here:

D and go on to part ill

2. Mandatory Questionnaire

If there i§ nonprofit involvement, you must complete the Non-Protit Questionnaire o Questionnaire attached (Mandatory TAB E)

3. Type of involvement

D Nonprofit meets eligibility requirement for points only, not pool or

o Nonprofit meets eligibility requirements for nonprofit pool and points.

4. Identity of Nonprofit (All nonprofit applicants)

The nonprofit organization involved in this development is:

o the Owner

D the Applicant (if different from Owner) DOther

Robert Pierre Johnson Housing Development Corporation ofthe National Capital Area, Inc.

Herb Cooper-Levy

(Name of nonprofit)

8 W. Nelson Ave., Suite B-1

(Contact Person) Alexandria

VA

(Street Address) 22301

(Phone)

(Zip code) 703-549-7175

(City) 703-549-7170

(State)

(Fax)

5.

Percentage of Nonprofit Ownership (All nonprofit applicants)

Specify the nonprofit entity's percentage ownership of the general partnership interest:

100.0%

2009

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Low-Income Housing Tax Credit Application For Reservation

III. DEVELOPMENT INFORMATION

A. Structure and Units:

1. Total number of all units in development Total number of rental units in development Number oflow-income rental units

Percentage of rental units designated low-income

34

34 bedrooms 54

34 bedrooms -""5""2'4-

100.00%

2. The development's structural features are (check all that apply):

o Row House/Townhouse

o Garden Apartments

o Slab on Grade

o Uetached Single-family

o Detached Two-family

o Basement

o Crawl space

o Elevator

Age of Structure:

Number of stories:

54

4

3. Number of new units

Number of adaptive reuse units Number of rehab units

o bedrooms 0

---""""""0 bedrooms --""'0"'"

34 bedrooms 54

4. Total Floor Area For The Entire Development

30,997.84 (Sq. ft.)

5. Unheated Hoor Area (Breezeways, Balconies, Storage)

:;,116.1)~ (Sq. ft.)

6. Nonresidential Commercial Floor Area (Not eligible for funding)

7. Total Usable Residential Heated Area

, 0.00 (Sq.ft_)

27,880.86 (Sqft_)

8. Number of Buildings (containing rental units)

2

9. Commercial Area Intended Use: None

10. Project consists primarily ofa building(s) which is (are) (CHOOSE ONLY ONE)

o Low-Rise (1-5 stories with any structural elements made of wood)

o Mid-Rise (5-7 stories with no structural elements made of wood)

o High-Rise (8 or more stories with no structural elements made of wood)

B. Building Systems:

Please describe each of the following in the space provided.

Community Facilities:

Laundry rooms

Exterior Finish: Brick

----------------------------------

Heating! AC System:

Electric, individual units

Architectural Style:

Modern style with Art Deco entries

2009

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Low-Income Housing Tax Credit Application For Reservation

C. Amenities:

1. Specify the average size per unit type:

Assisted Lvg 0.00 SF

I-Sty-Eff-Eld 0.00 SF

I-Sty IBR-Eld 0.00 SF

I-Sty 2BR-Eld 0.00 SF

Eff-Eld 0.00 SF

(Including pro rata share of heated common area)

IBdrm Eld 0.00 SF 3-Bdnn Gar

2Bdnn Eld 0.00 SF 4-Bdnn Gar

Eff-Gar 437.69 SF 2-Bdnn TH

l-Bdrm Gar 779.59 SF 3-Bdnn TH

2-Bdnn Gar 985.09 SF 4-Bdnn TH

0.00 SF 0.00 SF 0.00 SF 0.00 SF 0.00 SF

2. Total gross usable, heated square feet for the entire project less nonresidential commercial area: 27,880.86 0 Documentation attached (TAB F) Mandatory

(Sq. ft.)

NOTE: All developments must meet VHDA's Minimum Design and Construction Requirements.

By signing and submitting the Application For Reservation of Low Income Housing Tax Credits the applicant certifies that the proposed project budget, plans & specifications and work write-ups incorporate all necessary elements to fulfill these requirements.

3. Check the following items which apply to the proposed project:

o Documentation attached (TAB F Architect Certification) Mandatory

For any project, upon completion of construction/rehabilitation: 0% a( 1) Percentage of 2-bedroom units that have 1.5 bathrooms

---

0% a(2) Percentage of 3 or more bedroom units that have 2 bathrooms

---

A community/meeting room with a minimum of749 square feet is provided

(Optional Point items)

D b.
100% c.
0 d.
0 e.
0 f. Percentage of exterior walls covered by brick (excluding triangular gable ends, doors and windows) All kitchen and laundry appliances meet the EPA's Energy Star qualified program requirements

All windows meet the EPA's Energy Star qualified program requirements

Every unit in the development is heated and air conditioned with either (i) heat pump units with both a SEER rating of 14.0 or more and a HSPF rating of S.2 or more and a variable speed air handling unit

(for through- the-wall heat pump equipment that has an EER rating of 11.0 or more), or (ii) air conditioning units with a SEER rating of 14.0 or more and a variable speed air handling unit, combined with gas furnaces with an AFUE rating of 90% or more

D g. Water expense is sub-metered (the tenant will pay monthly or bi-monthly bill)

o h. Each bathroom consists only oflow-flow faucets (2.2 gpm max.) and showerheads (2.5gpm max.)

o 1. Provide necessary infrastructure in all units for high speed cable, DSL or wireless internet sevice. D j. All water heaters meet the EPA's Energy Star qualified program requirements.

2009

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Low Income Housing Tax Credit Application For Reservation

For all projects exclusively serving elderly and/or handicapped tenants, upon completion

of construction/rehabilitation: (Optional Point items)

o a. Db.

o c.

o d.

All cooking ranges will have front controls All units will have an emergency call system

All bathrooms will have an independent or supplemental heat source

All entrance doors have two eye viewers, one at 48" and the other at standard height

For all rehabilitation and adaptive reuse projects, upon completion of construction or

or rehabilitation: (Optional Point items)

o The structure is listed individually in the National Register of Historic Places or is located in a registered historic district and certified by the Secretary ofthe Interior as being of historical significance to the district, and the rehabilitation will be completed in such a manner as to be eligible for historic rehabilitation tax credits

Accessibility

Check one or none otthe following point categones, as appropnate:

o For any non-elderly property in which the greater of 5 or 10% of the units (i) provide federal project-based rent subsidies or equivalent assistance in order to ensure occupancy by extremely low-income persons; (ii) conform to HUD regulations interpreting accessibility requirements of section 504 of the Rehabilitation Act; and (iii) are actively marketed to people with special needs in accordance with a plan submitted as part of the Application. (If special needs include mobility impairments the units described above must include roll-in showers and roll under sinks and front controls for ranges).

o For any non-elderly property in which the greater of5 or 10% of the units (i) have rents within HUD's Housing Choice Voucher ("HCV") payment standard; (ii) conform to HUD regulations interpreting accessibility requirements of section 504 of the Rehabilitation Act; and (iii) are actively marketed to people with mobility impairments, including HCV holders, in accordance with a plan submitted as part the Application.

o For any non-elderly property in which at least four percent (4%) of the units conform to HUD regulations interpreting accessibility requirements of section 504 of the Rehabilitation Act and are actively marketed to people with mobility impairments in accordance with a plan submitted as part of the Application.

Earthcraft or LEED Development Certification

Applicant agrees to obtain Earthcraft or LEED certification prior to issuance ofIRS Form 8609. Architect certifies in the Architect Certification that the development's design will meet the criteria for such certification.

o Yes - Earthcraft 0 Yes - LEED

If Yes to either, attach appropriate documentation at TAB F

LEED Accredited Design Team Member

One or more members of the design team is a LEED accredited professional.

o Yes 0 No It Yes, attach appropnate documentation at TAB F

Universal Design - Units Meeting Universal Design Standards

a. The architect of record certifies that units will be constructed to meet VHDA's Universal Design standards.

o Yes 0 No 11 Yes, attach appropriate documentation at TAB]<'

b. Number of Rental Units constructed to meet VHDA's Universal Design standards:

2 Units 6%

VHDA Certified Property Management Agent

Owner agrees to use a VHDA Certified Property Management Agent to manage the property.

o Yes 0 No

DYes 0 No 0 N/ A The market-rate units' amenities are substantially equivalent to those of the

low-income units. Ifno, explain differences:

2009

Page 9

Low-Income Housing Tax Credit Application For Reservation

IV. TENANT INFORMATION

A. Set-Aside Election:

UNITS SELECTED BELOW IN BOTH COLUMNS DETERMINE POINTS FOR THE BONUS POINT CATEGORY

Note: In order to qualify for any tax credits, a development must meet one of two minimum threshold occupancy tests. Either (i) at least 20% of the units must be rent-restricted and occupied by persons whose incomes are 50% or less of the area median income adjusted for family size (this is called the 20/50 test) or (ii) at least 40% of the units must be rent-restricted and occupied by persons whose incomes are 60% or less of the area median income adjusted for family size (this is called the 40/60 test), all as described in Section 42 of the IRe. Rent-and income-restricted units are known as low-income units. If you have more low-income units than required, you qualify for more credits. If you serve lower incomes than required, you receive more points under the ranking system.

Units Provided Per Household Type:

Income Levels
# of Units % of Units
0 0.00% 40% Area Median
20 38.82~o 50% Area Median
14 4U8~o 60% Area Median
0 cUm% Non-LMI Units
34 100.00% Total Rent Levels
# of Units % of Units
4 11.76% 40% Area Median
16 47.00% 50% Area Median
14 41.18% 60% Area Median
0 0.00% Non-LMI Units
34 100.00% Total B. Special Housing Needs/Leasing Preference:

1. If 100% of the low-income units will be occupied by either or both of the following special needs groups as defined by the United States Fair Housing Act, so indicate:

o Yes Elderly (age 55 or above)

o Yes Physically or mentally disabled persons (must meet the requirements of the federal Americans with Disabilities Act)

2. Specify the number of low-income units that will serve individuals and families with children by

providing three or more bedrooms: 0 Number of units 0% of total low-income units

3. If the development has existing tenants, VHDA policy requires that the impact of economic and/or physical displacement on those tenants be minimized, in which Owners agree to abide by the Authority's Relocation Guidelines for LIHTC properties.

Select one: 0 N/A 0 Relocation Plan Documentation attached (TAB G)

4. If leasing preference will be given to applicants on public housing waiting list and/or Section 8 waiting list, so indicate:

o Yes

o No

o Locality has no such waiting list; If yes, provide the following information:

Organization which holds such waiting list:

Contact person (Name and Title)

Phone Number 703-549-7115

Edward Lacy

Alexandria Redevelopment and Housing Authority

o Required documentation attached (TAB H)

5. If leasing preference will be given to individuals and families with children. (Less than or equal to 20% of the units must have of 1 or less bedrooms).

DYes o No

2009

Page 10

Low-Income Housing Tax Credit Application For Reservation

V. LOCAL NEEDS AND SUPPORT

A. Provide the name and the address of the chief executive officer (City Manager, Town Manager, or County Administrator) of the political jurisdiction in which the development will be located:

Chief Executive Officer's Name James K. Hartman

~~~----------------------------------------------------

Chief Executive Officer's Title City Manager

--~--~------------------------~----~~~~~----------

Street Address 301 King Street Phone 707-838-4300

~~~----------------

City Alexandria State Virginia Zip 22314

----------------------

Name and title of local official you have discussed this project with who could answer questions for the local CEO: Helen McIlvaine, Deputy Director, Office of Housing

o Letter from CEO attached (TAB I) 0 CEO letter to be submitted separately by June 1,2009

VHDA notification letter to CEO submitted prior to 5 :00 PM 3/5/09: (9% competitive credits only) 0 Yes D No

If the property overlaps another jurisdiction please fill in the following:

Chief Executive Officer's Name Chief Executive Officer's Title Street Address

City

Phone Zip

State

------------------------------- ---------------------

Name and title oflocal official you have discussed this project with who could answer questions for the local CEO:

D Letter from CEO attached (TAB I) 0 CEO letter to be submitted separately by June 1, 2009

VHDA notification letter to CEO submitted prior to 5 :00 PM 3/5/09: (9% competitive credits only) DYes D No

B. Project Schedule

NAME OF PERSON RESPONSIBLE

ACTUAL OR ANTICIPATED DATE

ACTIVITY

Financing

A. Construction Loan Loan

B.

Lien

D.

2009

Low-Income Housing Tax Credit Application For Reservation

VI. SITE CONTROL

Note: Site control by the Owner identified herein is a mandatory precondition of review of this application. Documentary evidence of it, in the form of either a deed, option, purchase contract, or lease for a term longer than the period of time the property will be subject to occupancy restrictions must be included herewith. (9% Competitive Credits - An option or contract must extend beyond the application deadline by a minimum of four months.)

Warning: Site control by an entity other than the Owner, even if it is a closely related party, is not sufficient. Anticipated future transfers to the Owner are not sufficient. The Owner, as identified in Subpart II-A, must have site control at the time this Application is submitted.

NOTE: If the Owner receives a reservation of credits, the property must be titled in the name of or leased by (pursuant to a long-term lease) the Owner before the allocation of credits is made this year.

Contact us before you submit this application if you have any questions about this requirement.

A. Type of Site Control by Owner:

Applicant controls site by (select one and attach document - Mandatory TAU K)

o Deed - attached

o Long-term Lease - attached (expiration date:

---------------)

o Option - attached (expiration date:

o Purchase Contract - attached (expiration date:

05/15/10

If more than one site for the development and more than one form of site control, please so indicate o and attach a separate sheet specifying each site, number of existing buildings on the site, if any, type of control of each site, and applicable expiration date of form of site control. A site control document is required for each site.

B. Timing of Acquisition by Owner:

Select one:

o Owner already controls site by either deed or long-term lease or

o Owner is to acquire property by deed (or lease for period no shorter than period property

will be subject to occupancy restrictions) no later than Nov. 2009 (must be prior to November 7,2008).

If more than one site for the development and more than one expected date of acquisition by

Owner, please so indicate 0 and attach separate sheet specifying each site, number of existing

buildings on the site, if any, and expected date of acquisition of each site by the Owner.

C. Market Study Data:

2009

Page 12

Obtain the following information from the Market Study conducted in connection with this tax credit application and enter below:

Project Wide Capture Rate - LIHTC Units Project Wide Capture Rate - Market Units Project Wide Capture Rate - All Units Project Wide Absorption Period (Months)

3.20%

NA

3.20%

3

Low-Income Housing Tax Credit Application For Reservation

C. Site Description

I. Exact area of site in acres

0.800

2. Has locality approved a final site plan or plan of development?

o Yes DNo

o Required documentation form attached (TAB L)

3. Is site properly zoned for the proposed development?

o Yes DNo

o Required documentation form attached (TAB M)

4. Will the proposal seek to qualify for points associated with proximity to public transportation?

o Yes DNo

o Required documentation form attached (TAB A)

D. Photographs

Include photographs orthe site and any existmg structurets) in TAB U. For rehabihtatron projects, provide interior pictures which document the necessity of the proposed work.

E. Plans and Specifications

Minimum submission requirements for all properties (new construction, rehabilitation and adaptive reuse)

I. A location map with property clearly defined.

2. Sketch plan of the site showing overall dimensions of main building(s), major site elements (e.g., parking lots and location of existing utilities, and water, sewer, electric,

gas in the streets adjacent to the site). Contour lines and elevations are not required.

3. Sketch plans of main building(s) reflecting overall dimensions of:

a. Typical floor plan(s) showing apartment types and placement

b. Ground floor plan(s) showing common areas;

c. Sketch floor plan(s) of typical dwelling unit(s);

d. Typical wall section(s) showing footing, foundation, wall and floor structure.

Notes must indicate basic materials in structure, floor and exterior finish.

In addition: required documentation for rehabilitation properties

A unit-by-unit work write-up.

o Plans and specifications/unit-by-unit work writeup attached (TAB P) or D Plans and specifications/unit-by-unit work writeup submitted separately

2009

Page 13

Low-Income Housing Tax Credit Application For Reservation

VII. OPERATING BUDGET

A. Rental Assistance

1. Do or will any low-income units receive rental assistance? o Yes 0 No

2. If yes, indicate type of rental assistance:

o Section 8 New Construction Substantial Rehabilitation

o Section 8 Moderate Rehabilitation

o Section 8 Certificates

o Section 8 Project Based Assistance

o RD 515 Rental Assistance

o Section 8 Vouchers

o State Assistance

o Other: Housing Opportunities for Persons with AIDs rental subsidy

3. Number of units receiving assistance:

Number of years in rental assistance contract:

Expiration date of contract: varies

o Contract or other agreement attached (TAB Q)

8

varies

B. Utilities

1. Monthly Utility Allowance Calculations

Utilities Type of Utility Utilities Enter Allowances by Bedroom Size
(Gas. Electric. Oil. etc.) Paid by: O-bdr I-bdr 2-bdr 3-bdr 4-br
Heating Gas DOwner [!:]Tenant 63 68 89 0 0
Air Conditioning Electric DOwner [!:]Tenant 12 13 14 0 0
Cooking Gas DOwner [!:]Tenant 15 25 33 0 0
Lighting Electric DOwner [!:]Tenant 23 24 30 0 0
Hot Water Gas [!:]Owner o Tenant 0 0 0 0
Water [!:]Owner o Tenant 0 0 0 0 0
Sewer [!:]Owner o Tenant 0 0 0 0 0
Trash [!:]Owner o Tenant 0 0 0 0 0
Total utility allowance for costs paid by tenant SII3 S130 S166 SO SO 2. Source of Utility Allowance Calculation (Attach Documentation TAB Q)

o HUD

o Utility Company (Estimate)

o Utility Company (Actual Survey)

o LocalPHA

o Other:

2009

Page 14

Low-Income Housing Tax Credit Application For Reservation

C. Revenue

1. Indicate the estimated monthly income for the Low-Income Units: ••

Total Number of Total Monthly
Unit Type Tax Credit Units Rental Income
Efficiency Units 8 $5,320
I Bedroom Units 6 $4,650
2 Bedroom Units 20 $20,950
3 Bedroom Units 0 $0
4 Bedroom Units 0 $0
Total Number of Tax Credit Units 34
Plus Other Income Source (list): Laundry, Storage $510
Equals Total Monthly Income: $31,430
Twelve Months xl2
Equals Annual Gross Potential Income $377,160
Less Vacancy Allowance ( 7.0% ) $26,401
Equals Annual Effective Gross Income (EGI) - Low Income Units $350,759
•• Beginning at Row 75 enter the appropriate data for both tax credit and market rate units in the yellow shaded cells. 2. Indicate the estimated monthly income for the Market Rate Units: ••

Total Number of Total Monthly
Unit Type Market Units Rental Income
Efficiency Units 0 $0
I Bedroom Units 0 $0
2 Bedroom Units 0 $0
3 Bedroom Units 0 $0
4 Bedroom Units 0 $0
Total Number of Market Units 0
Plus Other Income Source (list): $0
Equals Total Monthly Income: $0
Twelve Months xl2
Equals Annual Gross Potential Income $0
Less Vacancy Allowance ( 0.0% ) $0
Equals Annual Effective Gross Income (EGI) - Market Rate Units $0 o Documentation in Support of Operating Budget attached (TAB R)

List number of units by type: TOTAL UNITS
ASSISTED LVG EFF-€LD 1 BDRM-€LD
0 0 0
2BDRM-GAR 3BDRM-GAR 4BDRM-GAR
20 0 0
1 STY-€FF-€LD II 1 STY-l BR-€LD II 1 STY -2 BR-€LD
0 0 0 2 BDRM-CLD

1 BDRM-GAR

EFF-GAR

8

6

o

2BDRM-TH

3BDRM-TH

4BDRM-TH

o

o

o

List number of units by type:

the scoresheel al Sa, 6a & 6b.

TAX CREDIT UNITS

Note: Please be sure 10 enter the number of unils in Ihe appropriate unit category. Ifnot, you will find an error on

o

ASSISTED LVG

1 BDRM-€LD

o

o

2BDRM-GAR

4BDRM-GAR

20

o

1 STY -€FF-€LD

1 STY -2 BR-€LD

o

Net Rentable Square Feet

2009

Number Units

2 BDRM-€LD

1 BDRM-GAR

EFF-GAR

o

6

2BDRM-TH

3BDRM-TH

4BDRM-TH

o

o

o

Monthly Rent Per Unit

Total Monthly Rent

Page 15

Efficiency - 40% Efficiency - 40% Efficiency - 40%

~o~ 1-- __ 3~_:,...,.~_0 _ __t ~

t=±=j 0.00 ~

2.320

$ $ $

Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -

Efficiency - 50% 4 367.90 $ 750 $ 3,000
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -
Efficiency - 50% 0 0.00 $ - $ -

Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Efficiency - 60% 0 0.00 $ - $ -
Tolal Efficiency Tolal Monlhly Eft.
Tax Credil Units: 8 2,943.22 Tax Credit Renl: $ 5,320

Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Efficiency - Market 0 0.00 $ - $ -
Tolal Efficiency
Market Unils: 0 0.00 Total Monlhly
Elf. Market Rent: $ -
Tolal Eft. Unlls: 8 Tolal Eft. Rent $ 5,320 2009

Rent Targeting

Number Units

Net Rentable Square Feet

Monthly Rent Per Unit

Total Monthly Rent

Page 15

1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-40%
1 BR-50%
1 BR-50%
1 BR-50%
1 BR-50%
1 BR- 50%
1 BR-50%
1 BR-50%
1 BR-50%
1 BR-50%
1 BR-50%
1 BR-50%
1 BR-50%
1 BR-50%
1 BR-50%
1 BR- 50%
1 BR-60%
1 BR-60%
1 BR- 60%
1 BR-60%
1 BR-60%
1 BR-60%
1 BR-60%
1 BR-60%
1 BR-60%
1 BR-60%
1 BR-60%
1 BR-60%
1 BR-60%
1 BR-60%
1 BR-60%
Tota11-BR
Tax Credit Units:
1 BR- Market
1 BR - Market
1 BR- Market
1 BR-Market
1 BR - Market
1 BR- Market
1 BR- Market
1 BR - Market
1 BR-Market
1 BR-Market
1 BR-Market
1 BR- Market
1 BR-Market
1 BR-Market
1 BR- Market
Tota11-BR
Market Units:
2009 0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ - 6 683.34 $ 775
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ - 0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ - 6

4,100.02

Total Monthly 1·BR Tax Credit Rent:

0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ - $
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$ 4,650
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$ $

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $

4,650

Page 15

o

0.00

Total Monthly

1-BR Market Rent: ==$======

Tota11-BR Units:

6

Tota11-BR Rent

$

4,650

2009

" I,i': :I';,,;m~::]::tm. "" 1,.",,',:.;:,:;11:: iJ.Aii!~:',~~:;:,·;b:':~" ':, :,;:.:::::;::t:::c:t, :::", "
FL.".
Net Rentable Monthly Rent Total
Rent Targeting Number Units Sguare Feet Per Unit Monthly Rent
2 BR-40% a 0.00 $ - $ -
2 BR-40% a 0.00 $ - $ -
2BR-40% a 0.00 $ - $ -
2 BR- 40% a 0.00 $ - $ -
2 BR-40% a 0.00 $ - $ -
2 BR-40% a 0.00 $ - $ -
2 BR-40% a 0.00 $ - $ -
2 BR-40% a 0.00 $ - $ -
2 BR-40% a 0.00 $ - $ -
2 BR-40% a 0.00 $ - $ -
2BR-40% a 0.00 $ - $ -
2 BR-40% a 0.00 $ - $ -
2 BR- 40% a 0.00 $ - $ -
2 BR-40% a 0.00 $ - $ -
2 BR-40% a 0.00 $ - $ -

2 BR-50% 10 874.39 $ 910 $ 9,100
2BR-50% a 0.00 $ - $ -
2BR-50% a 0.00 $ - $ -
2 BR- 50% a 0.00 $ - $ -
2 BR- 50% a 0.00 $ - $ -
2 BR-50% a 0.00 $ - $ -
2 BR-50% a 0.00 $ - $ -
2 BR-50% a 0.00 $ - $ -
2 BR-50% a 0.00 $ - $ -
2BR-50% a 0.00 $ - $ -
2BR-50% a 0.00 $ - $ -
2 BR- 50% a 0.00 $ - $ -
2 BR-50% a 0.00 $ - $ -
2 BR- 50% a 0.00 $ - $ -
2 BR-50% a 0.00 $ - $ -

2 BR-60% 10 874.39 $ 1,185 $ 11,850
2 BR-60% a 0.00 $ - $ -
2 BR-60% a 0.00 $ - $ -
2 BR-60% a 0.00 $ - $ -
2 BR-60% a 0.00 $ - $ -
2BR-60% a 0.00 $ - $ -
2BR-60% a 0.00 $ - $ -
2BR-60% a 0.00 $ - $ -
2 BR - 60% a 0.00 $ - $ -
2 BR- 60% a 0.00 $ - $ -
2 BR-60% a 0.00 $ - $ -
2 BR-60% a 0.00 $ - $ -
2 BR-60% a 0.00 $ - $ -
2 BR-60% a 0.00 $ - $ -
2 BR-60% a 0.00 $ - $ -
Tota12-BR Total Monthly 2-BR
Tax Credit Units: 20 17,487.88 Tax Credit Rent: $ 20,950

2 BR-Market a 0.00 $ - $ -
2 BR- Market a 0.00 $ - $ -
2 BR - Market a 0.00 $ - $ -
2 BR- Market a 0.00 $ - $ -
2 BR - Market a 0.00 $ - $ -
2 BR- Market a 0.00 $ - $ -
2 BR- Market a 0.00 $ - $ -
2 BR- Market a 0.00 $ - $ -
2 BR - Market a 0.00 $ - $ -
2 BR - Market a 0.00 $ - $ -
2 BR - Market a 0.00 $ - $ -
2 BR - Market a 0.00 $ - $ - Page 15

2 BR- Market 2 BR - Market 2 BR - Market

Tota12·BR Market Units:

Total 2·BR Units:

$

0.00

rn I---~=:=~~:__--l § :

o

20

Total Monthly

2·BR Market Rent: ~$=====-=

0.00

Total 2·BR Rent

20,950

2009

I··· ." ...

Rent Targeting

3BR-40% 3BR-40% 3 BR-40% 3 BR-40% 3 BR-40% 3 BR -40% 3 BR-40% 3BR-40% 3BR-40% 3BR-40% 3BR-40% 3BR-40% 3 BR·40% 3 BR-40% 3 BR-40%

3 BR-50% 3BR-50% 3BR-50% 3BR-50% 3 BR - 50% 3 BR- 50% 3 BR- 50% 3 BR-50% 3 BR-50% 3 BR-50% 3 BR-50% 3 BR-50% 3 BR-50% 3 BR - 50% 3BR-50%

3 BR - 60% 3BR-60% 3 BR - 60% 3BR-60% 3BR-60% 3 BR-60% 3 BR-60% 3 BR-60% 3 BR-60% 3 BR-60% 3 BR-60% 3 BR -60% 3 BR-60% 3BR-60% 3 BR-60% Tota13·BR

Tax Credit Units:

3 BR- Market 3 BR- Market 3 BR - Market

Number Units

";' :~., .. ,. . c~ ~'-. ,;-~ I Ohlts·· " . '; .. < :>: ,:.":,.... <::~" ;.; ':.

Net Rentable Monthly Rent Total

Monthly Rent

Page 15

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

o

Square Feet

$

$

0.00

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $

$

0.00

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $

$

0.00

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $

$

0.00

$

rn I--"':~:':::~:':~:"'_--I § :

0.00

$

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

0.00

$

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

0.00

$

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

0.00

Total Monthly 3·BR Tax Credit Rent:

3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
3 BR· Market 0 0.00 $ · $ ·
Tota13·BR
Market Units: 0 0.00 Total Monthly
3·BR Market Rent: $ ·
Total 3·BR Units: 0 Total 3·BR Rent $ 2009

1""""':'II:~ii;;;:'~lli :. : ..• : :':iTiii.ill;,mli~I'iJi.'·:L .·.Y Whits .'" my, ::>:, :::.,: ······:::::~·I~··;::~D: :'Y._"
Net Rentable Monthly Rent Total
Rent Targeting Number Units Sguare Feet Per Unit Monthly Rent
4 BR·40% 0 0.00 $ · $ ·
4BR·40% 0 0.00 $ · $ ·
4BR·40% 0 0.00 $ · $ ·
4BR·40% 0 0.00 $ · $ ·
4BR·40% 0 0.00 $ · $ ·
4BR·40% 0 0.00 $ · $ ·
4 BR·40% 0 0.00 $ · $ ·
4 BR·40% 0 0.00 $ · $ ·
4 BR·40% 0 0.00 $ · $ ·
4BR·40% 0 0.00 $ · $ ·
4BR·40% 0 0.00 $ · $ ·
4BR·40% 0 0.00 $ · $ ·
4BR·40% 0 0.00 $ · $ ·
4BR·40% 0 0.00 $ · $ ·
4 BR·40% 0 0.00 $ · $ ·

4BR·50% 0 0.00 $ · $ ·
4 BR· 50% 0 0.00 $ · $ ·
4 BR·50% 0 0.00 $ · $ ·
4 BR·50% 0 0.00 $ · $ ·
4 BR·50% 0 0.00 $ · $ ·
4 BR·50% 0 0.00 $ · $ ·
4 BR·50% 0 0.00 $ · $ ·
4 BR·50% 0 0.00 $ · $ ·
4 BR·50% 0 0.00 $ · $ ·
4 BR·50% 0 0.00 $ · $ ·
4 BR·50% 0 0.00 $ · $ ·
4 BR·50% 0 0.00 $ · $ ·
4BR·50% 0 0.00 $ · $ ·
4 BR· 50% 0 0.00 $ · $ ·
4BR·50% 0 0.00 $ · $ ·

4BR·60% 0 0.00 $ · $ ·
4 BR· 60% 0 0.00 $ · $ ·
4BR·60% 0 0.00 $ · $ ·
4BR·60% 0 0.00 $ · $ ·
4 BR·60% 0 0.00 $ · $ ·
4BR·60% 0 0.00 $ · $ ·
4BR·60% 0 0.00 $ · $ ·
4BR·60% 0 0.00 $ · $ ·
4BR·60% 0 0.00 $ · $ ·
4BR·60% 0 0.00 $ · $ ·
4 BR·60% 0 0.00 $ · $ ·
4 BR·60% 0 0.00 $ · $ ·
4BR·60% 0 0.00 $ · $ ·
4BR·60% 0 0.00 $ · $ · Page 15

4SR-60% Tota14-BR Tax Credit Units:

4 SR-Market 4SR-Market 4 BR - Market 4 SR- Market 4 SR- Market 4 SR- Market 4 SR - Market 4 SR - Market 4 SR- Market 4 SR- Market 4 SR - Market 4 SR- Market 4 SR- Market 4 SR- Market 4 SR - Market

Tota14-BR Market Units:

Total 4-BR Units:

Total Units

.__ __ 0 __ 1 LI _-,0,,-,-.0-,-0 _---'I LI s., __

Total Monthly 4-BR Tax Credit Rent:

$

$

o

0.00

0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ -
0 0.00 $ - $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

0 0.00 Total Monthly
4·BR Market Rent: $
0 Total 4·BR Rent $
34 Net Rentable SF: TC Units 24,531.12
MKTUnits 0.00
Total NR SF: 24,531.12
Floor Space Fraction 100.0000% 2009

Page 15

Low-Income Housing Tax Credit Application For Reservation

D. Operating Expenses

Administrative:

I. AdvertisingIMarketing

2. Office Salaries

3. Office Supplies

4. OfficefModel Apartment (type__]

5. Management Fee 5.00% ofEGI

::;=;=====;;:::;i:::i:;

6. Manager Salaries

7. Staff Unit (s) (type__j

8. Legal

9. Auditing

10. Bookkeeping/Accounting Fees II. Telephone & Answering Service

12. Tax Credit Monitoring Fee

13. Miscellaneous Administrative

Total Administrative

515.4411765 Per Unit

======

Utilities

14. Fuel Oil

15. Electricity

16. Water

17. Gas

18. Sewer

Total Utility

Operating:

19. Janitor/Cleaning Payroll

20. Janitor/Cleaning Supplies

21. Janitor/Cleaning Contract

22. Exterminating

23. Trash Removal

24. Security PayrolllContract

25. Grounds Payroll

26. Grounds Supplies

27. Grounds Contract

28. MaintenanceIRepairs Payroll

29. RepairsfMaterial

30. Repairs Contract

31. Elevator Maintenance/Contract

32. Heating/Cooling Repairs & Maintenance

33. Pool Maintenance/Contract/Staff

34. Snow Removal

35. Decorating/PayrolllContract

36. Decorating Supplies

37. Miscellaneous

Operating & Maintenance Totals

Taxes & Insurance

38. Real Estate Taxes

39. Payroll Taxes

40. Miscellaneous Taxes/l.icenses/Permits

41. Property & Liability Insurance

42. Fidelity Bond

43. Workman's Compensation

44. Health Insurance & Employee Benefits

45. Other Insurance

Total Taxes & Insurance

Total Operating Expense

______ $:..:5:..:.,0:..:5:..:..0 D2. Total Oper. Ex. As % EGI (from E3)

48.95%

D I. Total Oper. Ex. Per Unit

$500

Replacement Reserves (Total # Units X $300 or $250 New Const. Elderly Minimum)

Total Expenses

$2,785

$450

o

$17,525

$16,180

$0

$3,000

$6,000

o

o

$850

$3,895

$51,185

$0

$2,675

$15,560

$1,500

o

$19,735

$0

o

$6,000

$5,000

$36,000

$2,690

$310

$9,900

$0

$7,160

$0

$0

$56,060

$171,710

$10,200

$181,910

2009

Page 16

Low-Income Housing Tax Credit Application For Reservation

E. Cash Flow (First Year)

1. Annual EGI Low-Income Units from (C1) $350,759
2. Annual EGI Market Units (from C2) + $0
3. Total Effective Gross Income = $350,759
4. Total Expenses (from D) $181,910
5. Net Operating Income = $168,849
6. Total Annual Debt Service (from Page 21 B2) - $146,911
7. Cash Flow Available for Distribution = $21,938 F. Projections for Financial Feasibility - 15 Year Projections of Cash Flow

Stabilized
Year 1 Year 2 Year 3 Year 4 Year 5
Eff. Gross Income 350,759 361,282 372,120 383,284 394,782
Less Oper. Expenses 181,910 189,186 196,754 204,624 212,809
Net Income 168,849 172,095 175,366 178,660 181,973
Less Debt Service 146,911 146,911 146,911 146,911 146,911
Cash Flow 21,938 25,185 28,456 31,749 35,063 Debt Coverage Ratio

1.15

1.17

1.19

1.22

1.24

Year 6 Year 7 Year 8 Year 9 Year 10
Eff. Gross Income 406,626 418,824 431,389 444,331 457,661
Less Oper. Expenses 221,321 230,174 239,381 248,956 258,915
Net Income 185,304 188,650 192,008 195,374 198,746
Less Debt Service 146,911 146,911 146,911 146,911 146,911
Cash Flow 38,394 41,740 45,097 48,464 51,835 Debt Coverage Ratio

1.26

1.28

1.31

1.33

1.35

Year 11 Year 12 Year 13 Year 14 Year 15
Eff. Gross Income 471,390 485,532 500,098 515,101 530,554
Less Oper. Expenses 269,271 280,042 291,244 302,894 315,009
Net Income 202,119 205,490 208,854 212,208 215,545
Less Debt Service 146,911 146,911 146,911 146,911 146,911
Cash Flow 55,209 58,580 61,944 65,297 68,634 Debt Coverage Ratio 1.38

Estimated Annual Percentage Increase in Revenue Estimated Annual Percentage Increase in Expenses

1.40

1.42 1.44

3.00% (Must be .s. 3%)

-----

4.00% (Must be 2._ 4%)

-----

1.47

2009

Page 17

Low-Income Housing Tax Credit Application For Reservation

VIII. PROJECT BUDGET

A. Cost/Basis/Maximum Allowable Credit

Complete cost column and basis column(s) as appropriate through A12. Check if the following documentation is attached at TAB S:

D Executed Construction Contract

D Executed Trade Payment Breakdown D Appraisal

o Other Cost Documentation D Environmental Studies

NOTE: Attorney must opine, among other things, as to correctness of the inclusion of each cost item in eligible basis, type of credit and numerical calculations of this Part VIII.

Amount of Cost up to 100% Includable in
Eligible Basis--Use Applicable Column(s):
"30% Present Value Credit" (D)
Item (A) Cost (8) Acquisition (C) Rehab/ "70 % Present
New Construction Value Credit"
1. Contractor Cost
A. Off-Site Improvements 0 0 0 0
B. Site Work 90,000 0 0 90,000
C. Other: 0 0 0
D. Unit Structures (New) 0 0 0 0
E. Unit Structures (Rehab) 1,633,939 0 0 1,633,939
F. Accessory Building (s) 0 0 0
G. Asbestos Removal 0 0 0 0
H. Demolition 0 0 0 0
I. Commercial Space Costs 0 0 0 0
J. Structured Parking Garage 0 0 0 0
K. Subtotal A: (Sum lA .. lJ) 1,723,939 0 0 1,723,939
L. General Requirements 68,958 0 0 68,958
M. Builder's Overhead 68,958 0 0 68,958
( 4.0% Contract)
N. Builder's Profit 103,436 0 0 103,436
( 6.0% Contract)
O. Bonding Fee 19,600 0 0 19,600
P. Other: Builder's Risk Insur. 24,500 0 0 24,500
Q. Contractor Cost
Subtotal (Sum lK .. IP) $2,009,390 $0 $0 $2,009,390

2. Owner Costs
A. Building Permit 32,000 0 0 32,000
B. Arch.lEngin. Design Fee 80,000 0 0 80,000
( 2,353 /Unit)
C. Arch. Supervision Fee 40,000 0 0 40,000
( ~/Unit)
D. Tap Fees 0 0 0 0
E. Soil Borings 0 0 0 0 2009

Page 18

Low-Income Housing Tax Credit Application For Reservation

Amount of Cost up to 100% Includable in
Eligible Basis--Use Applicable Column(s):
"30% Present Value Credit" (D)
Item (A) Cost (B) Acquisition (C) Rehab! "70 % Present
New Construction Value Credit"
2. Owner Costs Continued
F. Construction Loan 70,000 0 0 70,000
Origination Fee
G. Construction Interest 187,500 0 0 170,000
( 7.5% for 12 months)
H. Taxes During Construction 35,000 0 0 35,000
I. Insurance During Construction 7,000 0 0 7,000
J. Cost Certification Fee 15,000 0 0 15,000
K. Title and Recording 82,000 61,500 0 0
L. Legal Fees for Closing 80,000 5,000 0 37,500
M. Permanent Loan Fee 13,250 0 0 0
( 0.5%)
N. Other Permanent Loan Fees 0 0 0 0
O. Credit Enhancement 0 0 0 0
P. Mortgage Banker 0 0 0 0
Q. Environmental Study 4,200 0 0 4,200
R. StructurallMechanical Study 3,280 0 0 3,280
S. Appraisal Fee 7,000 7,000 0 0
T. Market Study 5,500 0 0 5,500
U. Operating Reserve 175,000 0 0 0
V. Tax Credit Fee 33,392 0 0 0
W.OTHER $335,641 $6,000 $0 $306,300
(SEE PAGE 19A)
X. Owner Cost
Subtotal (Sum 2A .. 2W) $1,205,762 $79,500 $0 $805,780
Subtotal 1 + 2 $3,215,153 $79,500 $0 $2,815,170
(Owner + Contractor Costs)
3. Developer's Fees 840,000 140,000 700,000
4. Owner's Acquisition Costs
Land 0
Existing Improvements 4,350,000 4,350,000
Subtotal 4: $4,350,000 $4,350,000
5. Total Development Costs
Subtotal 1+2+3+4: $8,405,153 $4,569,500 $0 $3,515,170 If this application seeks rehab credits only, in which there is no acquisition and no change in ownership, enter the greater of

appraised value or tax assessment value here: $0 Land

(Attach documentation at Tab K) $0 Building

2009

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Low-Income Housing Tax Credit Application For Reservation

Amount of Cost up to 100% Includable in
Eligible Basis--Use Applicable Column(s):
"30% Present Value Credit" (D)
Item (A) Cost (B) Acquisition (C)Rehab/ "70 % Present
New Construction Value Credit"
W. OTHER OWNER COSTS
Contingency Reserve 200,000 0 0 200,000
(Rehab or Adaptive Reuse only)
LIST ADDITIONAL ITEMS
Relocation 75,000 0 0 75,000
Survey 6,000 6,000 0 0
LBP Assessment Study 14,900 0 0 14,900
Transportation coordinate study 300 0 0 300
Earthcraft fee 13,600 0 0 13,600
Universal design consultant 2,500 0 0 2,500
VHDA Additional Allocation Costs 23,341 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
Subtotal (Other Owner Costs) $335,641 $6,000 $0 $306,300 2009

Page 19A

Low-Income Housing Tax Credit Application For Reservation

Amount of Cost up to 100% Includable in
Eligible Basis--Use Applicable Column(s):
"30 % Present Value Credit"
(C) Rehab/ (D)
New "70 % Present
Item (A) Cost (B) Acquisition Construction Value Credit"
5. Total Development Costs
Subtotal 1+2+3+4 8,405,153 4,569,500 0 3,515,170 6. Reductions in Eligible Basis
Subtract the following:
A. Amount of federal grant(s) used to finance 0
qualifying development costs
B. Amount of nonqualified, nonrecourse financing 0
C. Costs of nonqualifying units of higher quality 0
(or excess portion thereof)
D. Historic Tax Credit (residential portion) 0
7. Total Eligible Basis (5 minus 6 above) 4,569,500 8. Adjustment(s) to Eligible Basis (For non-acquisition costs in eligible basis) (i) For Earthcraft or LEED Certification AND 60 Bonus Points

(ii) For QCT or DDA (Eligible Basis x 30%)

0 0
0 0
0 0
0 0
0 3,515,170
0 0
0 0
0 3,515,170
100.0000% 100.0000%
0 3,515,170
0.00% 9.00%
$0 $316,3651
$466,245 r-----J Total Adjusted Eligible basis

9. Applicable Fraction

100.0000%

10. Total Qualified Basis (Same as Part IX-C) (Eligible Basis x Applicable Fraction)

4,569,500

11. Applicable Percentage

3.28%

(For 2009 9% competitive credits, use the May 2009 applicable percentages for acq.) (For 9% non-competitive & tax exempt bonds, use the most recently published rates)

12.

Maximum Allowable Credit under IRC §42 (Qualified Basis x Applicable Percentage) (Same as Part IX-C and equal to or more than credit amount requested)

$149,880

Combined 30% & 70% P. V. Credit

2009

Page 20

Low-Income Housing Tax Credit Application For Reservation

B. Sources of Funds

1. Construction Financing: List individually the sources of construction financing, including any such loans financed through grant sources:

Date of Date of Amount of
Source of Funds Application Commitment Funds Name of Contact Person
1. BB&T $3,500,000
2. $0
3. $0 D Commitments or letter(s) of intent attached (TAB T)

2. Permanent Financing: List individually the sources of all permanent financing in order oflien position:

Interest Amortization Term
Date of Date of Amount of Annual Debt Rate of Period of
Source of Funds Application Commitment Funds Service Cost Loan IN YEARS Loan (years)
1. VHDASPARCIREACH $650,000 $44,213 5.95% 35 0
2. VHDA SPARCIREACH $2,000,000 $102,697 3.75% 35 0
3. Alexandria HOF $1,685,000 $0 0.00% 10000000 0
4. $0 $0 0.00% 1000 0
5. $0 $0 0.00% 1000 0
6. $0 $0 0.00% 1000 0
Totals: $4,335,000 $146,911 D Commitments or letter(s) of intent attached (TAB T)

3. Grants: List all grants provided for the development:

Date of Date of Amount of
Source of Funds Application Commitment Funds Name of Contact Person
1. $0
2. $0
3. $0
4. $0
5. $0
6. TeAP N/A N/A $0
Total Permanent Grants: $0 D Commitments or Jetter(s) ofintent attached (TAB T)

2009

Page 21

Low-Income Housing Tax Credit Application For Reservation

4. Portion of Syndication Proceeds Attributable to Historic Tax Credit

Amount of Federal historic credits $0 x Equity %

Amount of Virginia historic credits $0 x Equity %

$0.00

$0

$0.00

$0

6.

Equity that Sponsor will Fund:

Cash Investment Contributed Land/Building Deferred Developer Fee

Other: Interim Income

$0 0 Assessment Attached (TAB S) ----'$""'"4-"'45:-:,2"""8'"""6

$0

$175,000

Equity Total

$620,286

7.

Total of All Sources (B2 + B3 + B4 + B5 + B6)

(not including syndication proceeds except for historic tax credits)

$4,955,286

8.

Total Development Cost (From VIII-A5)

$8,405,153

9. 10.

Less Total Sources of Funds (From B7 above)

$4,955,286

Equals equity gap to be funded with low-income tax credit proceeds (must equal IX-D3)

$3,449,866

C. Syndication Information (If Applicable)

1. Actual or Anticipated Name of Syndicator

2. Contact Person Corinne Sheridan

--~----~------------------------------

3. Street Address One Boston Place ~~~~~------------------~--77~--------------------~~~~

City Boston State MA Zip 02108

Boston Capital

Phone 617-624-8900

4. a. Total to be paid by anticipated users of credit (e.g., limited partners)

b. Equity Dollars Per Credit (e.g., $0.85 per dollar of credit)

c. Percent of ownership entity (e.g., 99% or 99.9%)

d. Net credit amount anticipated by user of credits

e. Syndication costs not included in VIII-A5 (e.g., advisory fees)

5. Net amount which will be used to pay for Total Development Cost (4a-4e) as listed in Part VIII-A5 (same amount as Part IX-D3)

$3,449,868

$0.74

99.99%

$466,198

$0

$3,449,868

6. Amount of annual credit required for above amounts (same amount as Part IX-D6)

7. Net Equity Factor [C5 / (C6 X 10)]

(same amount as Part IX-D4) Must be equal to or greater than 85%

$466,245

73.99%

8. Syndication:

9. Investors:

o Public or

o Individual or

o Private

o Corporate

o Syndication commitment or letter of intent attached (TAB U)

2009

Page 22

Low-Income Housing Tax Credit Application For Reservation

D. Recap of Federal, State, and Local Funds/Any Credit Enhancements

1. Are any portions of the sources of funds described above for the development financed directly or indirectly

with Federal, State, or Local Government Funds? 0 Yes 0 No

If yes, then check the type and list the amount of money involved.

Below-Market Loans

o Tax Exempt Bonds

o RD 515

o Section 221(d)(3)

o Section 312

o Section 236

o VHDA SP ARCIREACH

o HOME Funds

o Other:

o Other: ---

$0

$0

$0

$0

$0

$2,650,000

$0

$0

$0

Grants DCDBG DUDAG

$0

$0

Market-Rate Loans

o Taxable Bonds

o Section 220

o Section 221(d)(3)

o Section 221 (d)(4)

o Section 236

o Section 223(f)

o Other:

$0

$0

$0

$0

$0

$0

$0

Grants

o State

o Local

o Other: TCAP

$0

$0

$0

This means grants to the partnership. If you received a loan financed by a locality which received one of the listed grants, please list it in the appropriate loan column as "other" and describe the applicable grant program which funded it.

2. Subsidized funding: list all sources of funding for points.

Documentation Attached (TAB T)

Source of Funds Commitment date Funds
1. City of Alexandria Housing Opportunties Fund $1,685,000
2. $0
3. $0
4. $0
5. $0 3. Does any of your financing have any credit enhancement?

If yes, list which financing and describe the credit enhancement:

DYes

o No

4. Other Subsidies 0 Documentation Attached (TAB Q)

o Section 8 Rent Supplement or Rental Assistance Payment

o Tax Abatement

o Other HOPWA projectbased housing subsidy for four units

5. Is HUD approval for transfer of physical asset required?

DYes 0 No

E. For Transactions Using Tax-Exempt Bonds Seeking 4% Credits:

For purposes of the 50% Test, and based only on the data entered to this application, the portion of the aggregate basis of buildings and land financed with

tax-exempt funds is:

2009

Page 23

Low-Income Housing Tax Credit Application For Reservation

IX. ADDITIONAL INFORMATION

A. Extended Use Restriction

NOTE: Each recipient of an allocation of credits will be required to record an extended use agreement as required by the IRC governing the use of the development for low-income housing for at least 30 years. However, the IRC provides that, in certain circumstances, such extended use period may be terminated early.

D This development will be subject to the standard extended use agreement which permits early termination (after the mandatory IS-year compliance period) ofthe extended use period.

D This development will be subject to an extended use agreement in which the owner's right to any early termination of the extended use provision is waived for 25 additional years after the 15- year compliance period for a total of 40 years. Do not select ifIX.B is checked below.

D This development will be subject to an extended use agreement in which the owner's right to any early termination of the extended use provision is waived for 35 additional years after the 15- year compliance period for a total of 50 years. Do not select ifIX.B is checked below.

B. NonprofitiLocal Housing Authority Purchase OptionlRight of First Refusal

1. 0 After the mandatory IS-year compliance period, a qualified nonprofit as identified in the attached nonprofit questionnaire, or local housing authority will have the option to purchase

or the right of first refusal to acquire the development for a price not to exceed the outstanding debt and exit taxes. Such debt must be limited to the original mortgagees) unless any refinancing is approved by the nonprofit. Do not select if extended compliance is selected in IX.A above. o Option or Right of First Refusal in Recordable Form Attached (TAB V)

Enter name of qualified nonprofit: Robert Pierre Johnson Housing Development Corporation of the National C

2. D A qualified nonprofit or local housing authority submits a homeownership plan committing to sell the units in the development after the mandatory IS-year compliance period to tenants whose incomes shall not exceed the applicable income limit at the time oftheir initial occupancy.

Do not select if extended compliance is selected in IX.A above.

D Homeownership Plan Attached (TAB J)

C. BuiIding-by-BuiIding Information (Complete page 25 as appropriate)

2009

Page 24

Low-Income Housing Tax Credit Application For Reservation

C.

Building-by-Building Information

Qualified basis must be determined on a building-by building basis. allocation request).

Must Complete

Complete the section below. Building street addresses are required by the IRS (must have them by the time of

Build ing#

NUMBER 30% Present Va1ue 30% Present Value
OF Credit for Acquisition Credit for Construction 70% Present Value Credit
TAX MARKET
CREDIT RATE Actual or Actual or Actual or
UNITS UNITS Estimate Anticipated Estimate Anticipated Estimate Anticipated
Street Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit
Address Basis Date Percentage Amount Basis Date Percentage Amount Basis Date Percentage Amount
.17 831 Bashford Lane $2,284,750 3.28% 74,940 $0 0.00% 0 $1,757,585 9.00% 158,183
17 833 Bashford Lane $2,284,750 3.28% 74,940 $0 0.00% 0 $1,757,585 9.00% 158,183
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0,00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0,00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$4,569,500 ~ $0 I $3,515,170 ~

I $0 I
- 2

4

10 II 12 J3 14 15 16

Quahfied BaSIs Totals (must agree WIth VIII AI 0)

Credit Amount Totals (must agree with VIII-A-I2)

2009

Page 25

Low-Income Housing Tax Credit Application For Reservation

D. Determination of Reservation Amount Needed

The following calculation of the amount of credits needed is substantially the same as the calculation which will be made by VHDA to determine, as required by the IRe, the amount of credits which may be allocated for the development. However, VHDA at all times retains the right to substitute such information and assumptions as are determined by VHDA to be reasonable for the information and assumptions provided herein as to costs (including development fees, profits, etc.), sources for funding, expected equity, etc. Accordingly, if the development is selected by VHDA for a reservation of credits, the amount of such reservation may differ significantly from the amount you compute below.

1. Total Development Costs (from VIII-A5, Column A page 20)

$8,405,153

2. Less Total Sources of Funds (from VIII-B7 page 22)

$4,955,286

3. Equals Equity Gap

$3,449,866

4. Divided by Net Equity Factor (VIII-C7 page 22)

(Percent of lO-year credit expected to be raised as equity investment)

73.99%

5. Equals Ten-Year Credit Amount Needed to Fund Gap

$4,662,448

Divided by ten years

10

6. Equals Annual Tax Credit Required to Fund the Equity Gap

$466,245

7. The Maximum Allowable Credit Amount (from VIII-A12-combined figure)

$466,245

(This amount must be equal to or more than 6 above)

8. Reservation Amount (Lesser of 6 or 7 above)

Credit per Unit 13,713

Credit per Bedroom 8,634

Combined 30"/0 & 70"/0 PV Credit

$466,245

$316,365

Comprised of

$149,880

end

30010 PV Credit

70% PV Credit

(Based on same relative pereenteges 85 VIII-A 12)

E. Attorney's Opinion

o Attached in Mandatory TAB W)

Goal Seek Function

If you incur the error message that your reservation amount is not equal to the equity gap amount you may use the goal seek function within the Excel spreadsheet to eliminate the error message. To use the "Goal Seek" function firs place the curser box on cell V28. Using the mouse arrow, point and click on 'Tools" on the top line and then click on the "Goal Seek" option. A box will appear with the V28 cell shown in the top space, place the cursor in the middle box and type in the new amount that you want the equity gap to be which should be the reservation amount below, then place the cursor in the bottom space and a he bottom of the page click on page 22. Then place the cursor on cell N15 (Deferred Developer Fee) and click on "OK". A message should then appear tha a solution has been found and if the amount is correct click "OK". If the amounts are now equal the error message will disappear.

2009

Page 26

Low-Income Housing Tax Credit Application For Reservation

F. Statement of Owner

The undersigned hereby acknowledges the following:

1. that, to the best of its knowledge and belief, all factual information provided herein or in connection herewith is true and correct, and all estimates are reasonable.

2. that it will at all times indemnify and hold harmless VHDA and its assigns against all losses, costs, damages, VHDA's expenses, and liabilities of any nature directly or indirectly resulting from, arising out of, or relating to VHDA's acceptance, consideration, approval, or disapproval of this reservation request and the issuance or nonissuance of an allocation of credits, grants and/or loan funds in connection herewith.

3. that points will be assigned only for representations made herein for which satisfactory documentation is submitted herewith and that no revised representations may be made in connection with this application once the deadline for applications has passed.

4. that this application form, provided by VHDA to applicants for tax credits, including all sections herein relative to basis, credit calculations, and determination of the amount of the credit necessary to make the development financially feasible, is provided only for the convenience ofVHDA in reviewing reservation requests; that completion hereof in no way guarantees eligibility for the credits or ensures that the amount of credits applied for has been computed in accordance with IRe requirements; and that any notations herein describing IRe requirements are offered only as general guides and not as legal authority.

5. that the undersigned is responsible for ensuring that the proposed development will be comprised of qualified low-income buildings and that it will in all respects satisfy all applicable requirements of federal tax law and any other requirements imposed upon it by VHDA prior to allocation, should one be issued.

6. that, for the purposes of reviewing this application, VHDA is entitled to rely upon representations of the undersigned as to the inclusion of costs in eligible basis and as to all of the figures and calculations relative to the determination of qualified basis for the development as a whole and/or each building therein individually as well as the amounts and types of credit applicable thereof, but that the issuance of a reservation based on such representation in no way warrants their correctness or compliance with IRe requirements.

7. that VHDA may request or require changes in the information submitted herewith, may substitute its own figures which it deems reasonable for any or all figures provided herein by the undersigned and may reserve credits, if any, in an amount significantly different from the amount requested.

8. that reservations of credits are not transferable without prior written approval by VHDA at its sole discretion.

2009

Page 27

Low-Income Housing Tax Credit Application For Reservation

9. that the requirements for applying for the credits and the terms of any reservation or allocation thereof are subject to change at any time by federal or state law, federal, state or VHDA regulations, or other binding authority.

10. that reservations may be made subject to certain conditions to be satisfied prior to allocation and shall in all cases be contingent upon the receipt of a nonrefundable application fee of $500 and a nonrefundable reservation fee equal to 7% of the annual credit amount reserved.

11. that a true, exact, and complete copy of this application, including all the supporting documentation enclosed herewith, has been provided to the tax attorney who has provided the required attorney's opinion accompanying this submission, and

12. that the applicant has provided a complete list of gl! residential real estate developments in which the general partner(s) has (have) or had a controlling ownership interest and, in the case of those projects allocated credits under Section 42 of the IRC, complete information on the status of compliance with Section 42 and an explanation of any noncompliance. The applicant hereby authorizes the Housing Credit Agencies of states in which these projects are located to share compliance information with the Authority.

13. that the information in this application may be disseminated to others for purposes of verification or other purposes consistent with the Virginia Freedom of Information Act. However, all information will be maintained, used or disseminated in accordance with the Government Data Collection and Dissemination Practices Act. The applicant may refuse to supply the information requested, however, such refusal will result in VHDA's inability to process the application. The original or copy of this application may be retained by VHDA, even if tax credits are not allocated to the applicant.

In Witness Whereof, the undersigned, being authorized, has caused this document to be executed in its

name on this / :5-IA day of May , 2009.

Arbelo Limited Partnership

(Title)

2009

Page 28

2009 LlHTC SELF SCORE SHEET:

Self Scoring Process

~his worksheet is intended to provide you with an estimate of your application score based on the selection criteria described in thE QAP. Most of the data used in the scoring process is automatically entered below as you fill in the application. Other items ~enoted below in the green shaded cells, are items that are typically evaluated by VHDA's staff during the application review anc easibility analysis. For purposes of self scoring, it will be necessary for you to make certain decisions and assumptions about you ~pplication and enter the appropriate responses in the green shaded cells of this score sheet. All but two require yes/no responses in which case enter Y or N as appropriate. Item 2b pertaining to the Local CEO Lelterwill require one of the following responses: ,

the letter indicates unconditional support; N - the letter indicates opposition to the project; NC - no comment from the locality, 0 any other response which is neither unconditional support nor opposition. Item 5e1 requires a numeric value to be entered. Please remember that the score is only an estimate based on the selection criteria using the reservation application data and the responses you've entered on this score sheet. VHDA reserves the right to change application data and/or score sheet response! where appropriate, which may change the final score.

MANDATORY ITEMS:

a. Signed, completed application

b. Duplicate copy of application

c. Partnership agreement

d. SCC Certification

e. Previous participation form

f. Site control document

g. Architect's Certification

h. Attorney's opinion

i. Nonprofit questionnaire (if NP)

YorN
YorN
YorN
YorN
YorN
YorN
YorN
YorN
Y, N, N/A
Y o or40
Y o or40
- o or -50
(Y,NC,N) o or 25 or 50
Y o or 30
N o or 5
Y o or 10
20.05% Up to 40
N o or20
o or 10
N o or 25
N o or 15 1. READINESS:

a. Plan of development

b. Zoning approval

Total:

2. HOUSING NEEDS CHARACTERISTICS:

a. VHDA notification letter to CEO

b. Local CEO letter

c. Location in a revitalization area

d. Location in a Qualified Census Tract

e. Sec 8 or PHA waiting list preference

f. Subsidized funding commitments

g. Existing RD, HUD Section 8 or 236 program

h. Tax abatement or new project based rental subsidy (HUD or RD)

i. Census tract with <10% poverty rate, no tax credit units

j. Development listed on the Rural Development Rehab Priority List Total

3. DEVELOPMENT CHARACTERISTICS:

a. Unit size (See calculations below)

b. Amenities (See calculalions below)

c. Project subsidies/HUD 504 accessibility for 5 or 10% of units

or d. HCV payment standard/HUD 504 accessibility for 5 or 10% of units or e. HUD 504 accessibility for 4% of units

f. Proximity to public transportation

g. Development will be Earthcraft or LEED certified

h. VHDA Certified Property Management Agent

i. Units constructed to meet VHDA's Universal Design standards

j. Developments with less than 100 units Total

Up to 100
Up to 60
N o or 50
N o or 30
Y o or 15
Y10 0,100r20
Y o or 30
Y o or 25
6% Up to 15
Up to 20
N o or 15
0.00% Up to 15
o or 50
o or 10
o or -50
o or -15
o or -x
o or -1 0
o or -25
Y o or 10 4. TENANT POPULATION CHARACTERISTICS:

a. <= 20% of units having 1 or less bedrooms

b. Percent of units with 3 or more bedrooms Total

5. SPONSOR CHARACTERISTICS:

a. Developer experience - 3 developments with 3 x units or 6 developments with 1 x units

or b. Developer experience - 1 development with 1 x units

c. Developer experience - uncorrected major violation

d. Developer experience - noncompliance

e1. Developer experience - did not build as represented e2. Developer experience - termination of credits by VHDA

f. Management company rated unsatisfactory

g. LEED accredited design team member Total

6. EFFICIENT USE OF RESOURCES:

a. Credit per unit

b. Cost per unit 2009

If #N/A or #REFI appears in the score column of these point categories check spelling of Clerk's Office on pg 1. It must match exactly with the Jurisdiction names listed in the Application Manual.

Up to 180 Up to 75

Total

Score o

o

o

o

o

o

o

o

o

0.00

40.00 40.00 80.00

0.00

50.00 30.00 0.00

10.00 40.00 0.00

0.00

0.00

0.00

130.00

83.57 44.00 0.00

0.00

15.00 10.00 30.00 25.00

0.88

20.00 228.45

0.00

0.00

0.00

0.00

10.00 0.00

0.00

0.00

0.00

0.00

10.00 20.00

35.27 3.74

39.01

7. BONUS POINTS:

E'i,M@

$99,000

12% 59% 59% 59%

a. Units with rents at or below 40% of AMI

b. Units with rent and income at or below 50% of AMI or c. Units with rents at or below 50% rented to tenants at or below 60% of AMI

or d. Units in Low Income Jurisdictions with rents <= 50% rented to tenants with <= 60% of AMI e. Extended compliance

or f. Nonprofit or LHA purchase option

or g. Nonprofit or LHA Home Ownership option Total

Y N

Upto 10 10.00
Up to 50 29.41
Up to 25 0.00
Up to 50 0.00
40 or 50 0.00
o or 60 60.00
o or 5 0.00
99.41
596.87 o Years

500 Point Threshold - 9% Credits

475 Point Threshold - Tax Exempt Bond Credits

TOTAL SCORE:

Unit Size Calculations:

High Sq.Ft./ BDRM Low Sq.Ft./ BDRM Project Sq.Ft. / BDRM Percentage of Units Points per Bedroom

E-AS LVG E-EFF E-1 BDRM E-2 BDRM
a a a a
a a a a
a a a a
0.00% 0.00% 0.00% 0.00%
0.00 0.00 0.00 0.00 High Sq.Ft. / BDRM Low Sq.Ft. / BDRM Project Sq.Ft. / BDRM Percentage of Units Points per Bedroom

F-EFF-G F-1 BDRM-G F-2 BDRM-G F-3 BDRM-G
525 625 900 a
400 500 675 a
438 780 985 a
23.53% 17.65% 58.82% 0.00%
7.09 17.65 58.82 0.00 High Sq.Ft. / BDRM Low Sq.Ft. / BDRM Project Sq.Ft. / BDRM Percentage of Units Points per Bedroom

F-4 BDRM-G F-2 BDRM-TH F-3BDRM-TH F-4 BDRM-TH
a a a a
a a a a
a a a a
0.00% 0.00% 0.00% 0.00%
0.00 0.00 0.00 0.00 High Sq.Ft. / BDRM Low Sq.Ft./ BDRM Project Sq.Ft. / BDRM Percentage of Units Points per Bedroom

If you do not receive a numeric point value in the unit size calculations, please

check the values entered on page 8, C1. These must be whole number numeric values only. Also check page 7, item 3,

the number of units must be either new, adapt or rehab only_ Combinations do

LI..:.T,;:o.:;ta:.;I_;U:,;n..:.l..:.t,;:s..:.lz:,;e;...:.,P,;:o,;;in,;;t::s,;_: __;8:,;3:.;,.5;:,7:..J1 not calculate correclly.

1 ST EL[)"EFF 1 ST ELD-1 BDRM 1 ST ELD-2 BDRM
a a a
a a a
a a a
0.00% 0.00% 0.00%
0.00 0.00 0.00 Amenities:

All units have:

a. 1.5 or 2 Bathrooms

b. Community Room

c. Brick Walls

d. Kitchen/Laundry Appl-Energy Star

e. Windows-Energy Star

f. HeatlAC-SEER-AFUE

g. Sub-metered water expense

h. Low flow faucets & showerheads

i. High speed cable, DSL, wireless internet

j. Water heaters meet EPA Energy Star requirements

0.00%

0.00 0.00 20.00 5.00 5.00

10.00 0.00 3.00 1.00 0.00

44.00

100.00%

Total

All elderly units have:

a. Front-control ranges

b. Emergency call system

c. Independentlsuppl. heat source

d. Two eye viewers

Total

0.00 0.00 0.00 0.00 0.00

All rehab or adaptive reuse units:

b. Historic structure

0.00

Total amenities:

2009

$fSF = 1 $295.191

CreditsfSF =

~const $funit =

If an ERROR message appears here check spelling 01 Clerk'. Olliee on pg 1. It must malch exactly with the Jurisdiction names

TYPE OF PROJECT LOCATION

TYPE OF CONSTRUCTION

FAMILY = 11000; ELDERLY = 12000

BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR=600 N C=l; ADPT=2;REHAB(25,OOO+)=3; REHAB(15,OOO-25,OOO)=4

listed in the Application Manual.
ELDERLY
ASLVG EFF-E 1 BR-E 2BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 ST
AVG UNIT SIZE 0 0 0 0 0 0 0
NUMBER OF UNITS 0 0 0 0 0 0 0
PARAMETER-(COSTS=>25,OOO) 0 0 0 0 0 0 0
PARAMETER-(COSTS<25,OOO) 0 0 0 0 0 0 0
COST PARAMETER 0 0 0 0 0 0 0
PROJECT COST PER UNIT 0 0 0 0 0 0 0
PARAMETER-(CREDITS=>25,OOO) 0 0 0 0 0 0 0
PARAMETER-(CREDITS<25,OOO) 0 0 0 0 0 0 0
CREDIT PARAMETER 0 0 0 0 0 0 0
PROJECT CREDIT PER UNIT 0 0 0 0 0 0 0
COST PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

'AMIL
EFF-G 1 BR-G 2BR-G 3BR-G 4BR-G 2BR-TH 3 BR-TH 4 BR-TH
~~~ UNIT SIZE 438 780 985 0 0 0 0 0
MBER OF UNITS 8 6 20 0 0 0 0 0
PARAMETER-(COSTS=>25,OOO) 163,923 212,118 275,188 0 0 0 0 0
PARAMETER-(COSTS<25,OOO) 0 0 0 0 0 0 0 0
COST PARAMETER 163,923 212,118 275,188 0 0 0 0 0
PROJECT COST PER UNIT 129,202 230,127 290,789 0 0 0 0 0
PARAMETER-(CREDITS=>25,OOO) 11,532 14,923 19,360 0 0 0 0 0
PARAMETER-(CREDITS<25,OOO) 0 0 0 0 0 0 0 0
CREDIT PARAMETER 11,532 14,923 19,360 0 0 0 0 0
PROJECT CREDIT PER UNIT 7,319 13,037 16,473 0 0 0 0 0
COST PER UNIT POINTS 3.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 15.47 4.01 15.79 0.00 0.00 0.00 0.00 0.00 TOTAL COST PER UNIT POINTS

3.74

TOTAL CREDIT PER UNIT POINTS

35.27

Cost Parameters - Elderl
ASLVG EFF-E 1 BR-E 2BR-E EFF-E-1ST 1 BR-E-1 ST 2 BR-E-1 ST
Standard Cost Parameter -low rise 0 0 0 0 0 0 0
Parameter Adjustment - mid rise 0 0 0 0 0 0 0
Parameter Adjustment - high rise 0 0 0 0 0 0 0
Adjusted Cost Parameter 0 0 0 0 0 0 0
Credit Parameters - Elderl~
ASLVG EFF-E 1 BR-E 2BR-E EFF-E-1ST 1 BR-E-1 ST 2 BR-E-1 ST
Standard Credit Parameter - low rise 0 0 0 0 0 0 0
Parameter Adjustment- mid rise 0 0 0 0 0 0 0
Parameter Adjustment - high rise 0 0 0 0 0 0 0
Adjusted Credit Parameter 0 0 0 0 0 0 0
Cost Parameters - Family
EFF-G 1 BR-G 2BR-G 3BR-G 4BR-G 2 BR-TH 3 BR-TH 4BR-TH
Standard Parameter -low rfse 163,923 212,118 275,188 0 0 0 0 0
Parameter Adjustment - mid rise 0 0 0 0 0 0 0 0
Parameter Adjustment - high rise 0 0 0 0 0 0 0 0
Adjusted Cost Parameter 163,923 212,118 275,188 0 0 0 0 0
Credit Parameters - Famll
EFF-G 1 BR-G 2BR-G 3BR-G 4BR-G 2BR-TH 3 BR-TH 4 BR-TH
Standard Credit Parameter -low rise 11,532 14,923 19,350 0 0 0 0 0
Parameter Adjustment - mid rise 0 0 0 0 0 0 0 0
Parameter Adjustment - high rise 0 0 0 0 0 0 0 0
Adjusted Credit Parameter 11,532 14,923 19,360 0 0 0 0 0 2009

$/SF = I $295.19 I

Credits/SF =

~const $/unit =

If an ERROR message appears here check spelling 01 Clerk's Office on pg 1. It must match exactly with the Jurisdiction names

TYPE OF PROJECT LOCATION

TYPE OF CONSTRUCTION

FAMILY = 11000; ELDERLY = 12000

BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; 5MA=500; SMA-C=510; RUR=600 N C=l; ADPT=2;REHAB(25,OOO+)=3; REHAB(10,OOO.25,OOO)=4

listed In the Application Manual.
ELDERLY
ASLVG EFF-E 1 BR-E 2BR-E EFF-E-15T 1 BR-E-1 ST 2BR-E-1 ST
AVG UNIT SIZE 0 0 0 0 0 0 0
NUMBER OF UNITS 0 0 0 0 0 0 0
PARAMETER-(COSTS=>25,OOO) 0 0 0 0 0 0 0
PARAMETER-(COSTS<25,OOO) 0 0 0 0 0 0 0
COST PARAMETER 0 0 0 0 0 0 0
PROJECT COST PER UNIT 0 0 0 0 0 0 0
PARAMETER-(CREDITS=>25,OOO) 0 0 0 0 0 0 0
PARAMETER-(CREDlTS<25,OOO) 0 0 0 0 0 0 0
CREDIT PARAMETER 0 0 0 0 0 0 0
PROJECT CREDIT PER UNIT 0 0 0 0 0 0 0
COST PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FAMILY
EFF-G 1 BR-G 2BR-G 3BR-G 4BR-G 2 BR-TH 3 BR-TH 4 BR-TH
AVG UNIT SIZE 438 780 985 0 0 0 0 0
NUMBER OF UNITS 8 6 20 0 0 0 0 0
PARAMETER-(COSTS=>25,OOO) 120,531 155,969 211,313 0 0 0 0 0
PARAMETER-(COSTS<25,OOO) 0 0 0 0 0 0 0 0
COST PARAMETER 120,531 155,969 211,313 0 0 0 0 0
PROJECT COST PER UNIT 129,202 230,127 290,789 0 0 0 0 0
PARAMETER-(CREDITS=>25,OOO) 5,786 7,487 10,143 0 0 0 0 0
PARAMETER-(CREDITS<25,OOO) 0 0 0 0 0 0 0 0
CREDIT PARAMETER 5,786 7,487 10,143 0 0 0 0 0
PROJECT CREDIT PER UNIT 7,319 13,037 16,473 0 0 0 0 0
COST PER UNIT POINTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS -11.22 -23.55 -66.08 0.00 0.00 0.00 0.00 0.00 TOTAL COST PER UNIT POINTS

TOTAL CREDIT PER UNIT POINTS

0.00

·100.85

Cost Parameters - Elderl
ASLVG EFF-E 1 BR-E 2BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 ST
Standard Cost Parameter -low rise 0 0 0 0 0 0 0
Parameter Adjustment - mid rise 0 0 0 0 0 0 0
Parameter Adjustment - high rise 0 0 0 0 0 0 0
Adjusted Cost Parameter 0 0 0 0 0 0 0
Credit Parameters - Elderl
ASLVG EFF-E 1 BR-E 2BR-E EFF-E-1 ST 1 BR-E-1 ST 2 BR-E-1 ST
Standard Credit Parameter -low rise 0 0 0 0 0 0 0
Parameter Adjustment - mid rise 0 0 0 0 0 0 0
Parameter Adjustment· high rise 0 0 0 0 0 0 0
Adjusted Credit Parameter 0 0 0 0 0 0 0
Cost Parameters - Famil
EFF-G 1 BR-G 2BR-G 3BR-G 4BR-G 2 BR-TH 3 BR-TH 4 BR-TH
Standard Parameter -low rise 120,531 155,969 211,313 0 0 0 0 0
Parameter Adjustment - mid rise 0 0 0 0 0 0 0 0
Parameter Adjustment - high rise 0 0 0 0 0 0 0 0
Adjusted Cost Parameter 120,531 155,969 211,313 0 0 0 0 0
Credit Parameters ~ Famil
EFF-G 1 BR-G 2BR-G 3BR-G 4BR-G 2 BR-TH 3 BR-TH 4BR-TH
Standard Credit Parameter -low rise 5,786 7,487 10,143 0 0 0 0 0
Parameter Adjustment - mid rise 0 0 0 0 0 0 0 0
Parameter Adjustment- high rise 0 0 0 0 0 0 0 0
Adjusted Credit Parameter 5,786 7,487 10,143 0 0 0 0 0 2009

TAB A

(Documentation of Development Location)

TABA.l

(Qualified Census Tract Certification)

TABA.2

(Revitalization Area Certification)

OFFICE OF THE CITY MANAGER 301 King Street, Suite 3500 Alexandria, Virginia 22314-3211

JAMES K. HARTMANN City Manager

May 11,2009

(703) 838-4300 Fax: (703) 838-6343

Mr. Jim Chandler

Virginia Housing Development Authority 601 South Belvidere Street

Richmond, Virginia 23220

VHDA Tracking Number:

Development Name:

Name of Owner/Applicant:

2009-Z-009

Arbelo Apartments

Arbelo Limited Partnership

Dear Mr. Chandler:

I certify that the above-referenced development is located in a Revitalization Area in my jurisdiction. A "revitalization area" is any area that is (i) either (1) blighted, deteriorated, deteriorating or, if not rehabilitated, likely to deteriorate by reason that the buildings, improvements or other facilities in such area are subject to one or more of the following conditions- dilapidation, obsolescence, overcrowding, inadequate ventilation, light or sanitation, excessive land coverage, deleterious land use, or faulty otherwise inadequate design, quality or condition, or (2) the industrial, commercial or other economic development of such area will benefit the city or county but such area lacks the housing needed to induce manufacturing, industrial, commercial, governmental, educational, entertainment, community development, healthcare or nonprofit enterprises or undertakings to locate or remain in such area; and (ii) private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe and sanitary housing and supporting facilities that will meet the needs of low and moderate income persons and families in such area and will induce other persons and families to live within such area and thereby create a desirable economic mix of residents in such area.

I understand that this Certification will be used by the Virginia Housing Development Authority to determine whether the development qualifies for points available under VHDA's Qualified Allocation Plan.

Yours truly,

!*;!J¥= .

U~~~es K. Hartmann City Manager

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03-29-2007

10:07

FrD~-OFFICE OF HOUSING - ADMIN/LLT

p 0 00~/OD7

703-70S-390~ WH~l£AS th.~. ar. to AL.~4ndrt. dert4Ln nuighborhoQU" In ~n~~'

T-369

~ho •• ~ho ltv8, work and snQP i~ the •• ateal' and

lflU)R:US itt 1.1 the dt:l. ,od to .Ul1Il .... te bUaht and deterioration and to create a batte~ aommunity thr5~,b physical l~provem~nt ot pubLIC prop_rty, 'ol,Jcb •• rt~4lior And addlthn of aid&walk" curb. and trees, and by pro."ldlng h~lJ.in& improvement lncen,Uvcsj by the provls1on of addt.ttonal park. and re~te.tion~l fAcilities; by c~.~t1n, btttef tvafflc pattern., e'peciaLly ~1th tlte pedutli'ian tn. lIIj,fld. and by prov1dln. 'l,Ipportlve pat~ins; and

"'HERtAS the City Council 1n 19?Z lnitiatltd th<! 1'otOflUlc Zan and West.

Nef.gbborbood lfllpro'lement Progr411\' .nd Il.)thorized the City Mlnaaer to implement ~ctiDn' to acco~pli~h revitaLl,acion of the Pocom~¢ E.lt and We.e arena; an~ WHERRAS many of the f1~.t year project. havQ been deat,nad and co~pleted;

and

WHEREAS the elty It~ff hal begun implementing Second yeat program .ctlvitiea

with coop~ratL~n and !ut~ance froA the citiEenR of the PQtomac EIIC and We8t

WREREAS tb~ City Councll has appropriated in the 1974-74 Capital ludtet the e"~ ot $650,000 fo~ the i~ple~entat1on of third year activities tn rotDmac East

NOWt 'I'HIR£FOR)!:, iE IT RESOLVED that the C1ty aouncU of tho C~ty of Alell:ondtia.

Vir&inio, ~xtend& it. continued support to the p~o,r~m of revLt.li~otton and improvement in Potomac East and West; and

that the Clty H.na&.~ i, hereby .uthor~~edt tn coo~dln4tlon with the re3lden~4 of tne comm~nltYI ~D imple~e~~ pr9g~.m. ~o 4ccompllch ravitalizaeion ~n fotomao

East and Wast througn the 1.lIlprOVell1ent of heustng conditions r tne provJ.3ion And Plain-

tena{lcc! of parU and oplln sp .. ce , the removal of unsalvagQbLe structure., the l'eductlQn

and amelioration of ioc:ampatlbh land usas , tna tmp!"~vemcl\t of t~3ff1c pattel;"ns I the provhiol\ of supportive p"rk1.ns, the installation of pubLic irnproveRientst and othe"!: .ppt~p~i.t~ soci.1 aad ~nvltonm4ntal .ct1.vltL.~; .(\~

J!lE IT FURtIlf:lt Jl,ESOLVED tnat th~ Oily Council cdh upon the cUhans of Al.~;mdrl'l .1.1 !lo"rd. and taEenOlu of the atr;y, lin f;f.t)' CO'Ipl.oyea8. Imd IIll I'lei.(;hborhood

""'~i1'Il"\!lr..t1Ci101l ane:! bUII1.l\eSl'llIlc:n, to join \lith thll Ci.t)' Caul'lC Ll 3nd Ct ty }hl\HII5-er 1.n a :-Q"{\'~~t~d ~·!fQrt to rev1tnltr.t: k'otom4c hst lind \~I!Ilt;i III\d

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03-Zg-2007 10:07

FrOll-OFPICE OF HOUSING - ADIrlINILLT

703-708-3904

T-369 p.nDS/OOT F-2T6

H.i.~ Vick~r •• Cl.~k of the City of Al.x.nd~La. V1~8tn'.

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From-OFFICE OF HOUSING - ADMIN/LLT

703-706-3904

T-369 P,OOS/D07 F-27S

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l'otOl",1.(1C Hest is bounded on tn~ e ... ,~!: by the RF&P R~ilyat'd~ on t~11::! south and \Vost,hy Ru s s e Ll Ro::d, ,:~:~l :):~ th~ nor ch by the C:ity'1.t:~.,Ln; along Four Mile Run.

rj_'tlcre a r e E1.pprl);-;:l\:"ntel.y 5,400 d~'n~~li''!,g ml'1,t~ \:'i.t::hin this 95J FIero ~ll:ea and a pcpu'la tion of around 20 ~ 000. ,\}1 l!:1orEicie 1 c:,ttr:);·:tor

Lnsp ec t Ion in 1972 :r€vea1ed dv:~t 1~2f:O s t rucuur es (lr 23% of the total were in need of soma repnlr.

The popu Let Lon of Pot'lmac l>Jas t drop;'Jed h5tt',~en 1960 and 1970 by a lmos t . 8%. At the same time the black povul~t.ion jumped from .3% in 1950

to 165~ il' 1970. Blacks are not evanly distributed throughout Potom;~c. ~'Yes c , but a re concent ra ted in the l'lorth~rn neighborhoods (l~5% bl~l(:k in 19 70) ~'7hile the southern ne Lghbczhoo ds are less :i.ntQgrc). te.d (.3.;~ blacks in 1970).

HOlIS ing is 0 f mi:<ed types in Pozoraac Hes r , composed primAri l.y of

small detached homes with townhouses and duplexes scatter&d throughout. Although some homes sell for as much as $80,000) the great majority range from $28>000 to $40l000 in pric~.

Or:i.ginal1y the home for t·,orkcr.'s in nearby Potomac Ya~d§ ~ there a r e still a large number of retired ~ailroad families living in the area~ , many on fixed incomes. 'Potomac Hest census tracts ill 1970 had med;i.en

incomes ranging from $8,400 to $14> 700. .

The Potomac E,'ast area is gener'!)ll), defined as that area that is hounded on the eas t by the Potomac Ri.ver) On the wes t by the t-.7&OD R~i1.ro~ld,

on the nor th by the RF&P Ra ib:oad and on. th~ sou th by the Capita J. Belt{·;ray. The Potomac Eas't area cons Is t s of .approximately 200 blocks an.d includes those specill.l areas knoNn as the DIP Urban Rene(.07a1

Proj ec t , Census T:r:act 16 > Pot.;rhat~n, Old T01,o,}n Nest and the north Ha t~rfront.

Basoo on the '1970 census the population of the Potomac East area is Dppr.oximat~ly 21,295 people of ~'lhic~1 9~977 or 1~6.S% ClrGo! b Lack , 1:1.,116 0:- 51.5% are ('1hite ~ and .!~31 or 2.07; ar e of other racial (11- na t.tnna I eompo s Lt i.on , 'l'hlllre are 8,603 hOL1$ili~ units in Po t omac East of. l~hich 2,338 or 25% ora owner occupied) 6)265 or 68% ar~ renter occupied

and 567 or 71 arO vacant. Th~ av~ra3e hauseh01d .i~~ is 2.51 pe~s~nR per. househo Ld . A survey of resj.(lE:l1t:iAl structures (lmits "lest of Hash:i.ngton Str(!~t) re\Tec,lcd char 7(;7 or 59% are in govo condition.

/f63 o r 37% n rc 1.'(1 fair (clCi::C:l:"io):ati:1;;) cond Lt Lon line] I~O oz 3'; are in pOOL- (d e Lap Lda ted) COl1c1 'i.ft. ion.

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'l'h~: J~(!I:.lj,.:'If\ )'OCll.·S of: s chco I ccmp L .... I:rl.:! for tho s e PC:l-5HJt'W 25 yen r s c.,J.d

nnrl o ve r f.n che l'o r ouvrc l~a~)f' ;'lrf;~l is 11 .. '3 yca r s a nd the pC!l:c(·nt:!.:·~o

C,I f It Jeh sc hoo 1 ~r(H{11.!~1 t.~~; 1:0 ... " r:h~' sr.» ... ' fig,·! g :'()lIP i s l~ 9 .87... 'l'l[~ n:cll La n

f,:'i[:;U), Lnc ome [0::' the t. rtlil j;~i $9, 1)',7 ,

From-OFfiCE OF HOUSING - ADMIN/LLT

703-70S-3Q04

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T-369 P.OOT/OOT F-276

C~nSllS T"L'c"!c:t: ') i!; pC·l.·h:.:.?> b cs t known as i.:he !:ihii~lt::y D:'lkc/}tegillCl area. It ccnze Ins llL~.7 ac r cs of bnd ~d.th about; 2)l!19 d~·lalli.ng unitR (built circa 1956). The dmn~ity devaloped site h~s many of t.he re·t~etiti.ve :'l-story tyf'!!! b r Lck ~~alk-~qn; l;1hi,=h are now sho'.;Iing signs of abus e and Lack of ma Lnt enanc e .

T·h,(i? residem:s of this a r ea are, for the 'mos t part, in the lo~v~;::tncoo:e ca t ego ries . The 1970 cens us reveals tha t there ~.]ere 2.4 people per dt·;elling unit. It also r evaa Ls that a 1all'ge por.tion of the resident popula tiOl1 (app , 1/3) are sraa Ll, ch iLdren t·lhi1e roughly 1/3 are in the adolescent ege group and th~ remaining 1/3, was rno s t Ly yOtli"tg adults 20-35 _ 1970 Census infol:"rmi tion indicated tha t: eompara-

tive:ly fe\~ elderly persons reside Census 'l"ract .5. .

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Location Map

831-833 Bashford Lane, Alexandria, VA 22314 - Google Maps

http://maps.google.com/maps?f=q&source=s _ q&bl=en&geocode=&q.

Address 833 Bashford Ln Alexandria, VA 22314

Get Google Maps on your phone n Texttheword"GMAPS"to466453

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4/2112009 1:41 P.tv

Surveyor's Certification of Proximity To Public Transportation

~\DOMINION

- IY

Surveyors Inc.

8808-H Pear Tree Village Ct.

Alexandria, VA 22309 703.619.6555 fax: 703.799.6412 www.dominionsurveyors.com

\

St;tvicing your local land surveying nt;t;ds

DATE: 03-11-09

TO: Virginia Housing Development Authority 601 South Belvidere Street

Richmond, VA 23220-6500

RE: 2009 Tax Credit Reservation Request

Name of Development: Dempsey, Western ~ Lot 2 & Eastern ~ Lot 2

Name of Owner: Robert Pierre Johnson Housing Development Corp.

Gentlemen:

This letter is submitted to you in support of the Owner's Application for Reservation of Low Income Housing Tax Credits under Section 42 of the Internal Revenue Code of 1986, as amended.

Based upon due investigation of the site and any other matters as it deemed necessary this firm certifies that: the main street boundary entrance to the property is within:

2,640 feet or ~ mile of the nearest access point to an existing commuter rail, light rail or subway station; or

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_x_ 1,320 feet or ~ mile of the nearest access point to an existing public bus line.

The latitudes and longitudes in decimal format (ex: -77.452788/38.77987) are as follows:

Latitude Longitude
Main Street Bounda_ry_ Entrance to Property N 38.81872 W 77.04678
Transportation Access N 38.81879 W 77.04754 Dominion Surveyors, Inc.

Firm Name

By:

George M. O'Quinn

Its:

President / Land Surveyor

Title

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TABB

(Partnership or Operating Agreement)

ARBELO LIMITED PARTNERSIDP

AGREEMENT OF LIMITED PARTNERSHIP dated as of

JANUARY 3RD, 2008

AGREEMENT OF LIMITED PARTNERSHIP OF

ARBELO LIMITED PARTNERSHIP (a Virginia limited partnership)

This AGREEMENT OF LIMITED PARTNERSHI:e___afibe ARBELO LIMITED PARTNERSHIP is made as of the 3rd day of January, 2008, by and among Arbelo Associates, LLC, a Virginia limited liability company as a General Partner and the Party(ies) whose name(s) are set forth on Schedule A, attached hereto and incorporated by reference herein, as Limited Partner(s)(whether one or more than one, the "Limited Partners"), pursuant to the provisions of the Virginia Revised Uniform Limited Partnership Act (the "Act"), on the following terms and conditions:

1. THE PARTNERSHIP

a. Formation. The Partners hereby agree to form the Partnership as a

limited partnership pursuant to the provisions of the Act and upon the terms and conditions set forth in this Agreement.

b. Name. The name of the Partnership shall be "ARBELO LIMITED

PARTNERSHIP" or such other name as the Managing General Partner may hereafter designate in writing to the Limited Partners.

c. Purpose; Character of Partnership Business. The purpose of the

Partnership is to foster low income housing, and specifically to redevelop, own and operate a certain multifamily property located in the City of Alexandria, Virginia, commonly referred to as Arbelo Apartments, located in the City of Alexandria, Virginia (the "Project"), and to take advantage of financing and investment funds which may be made available for the development of such Project as affordable and other residential property. In furtherance of this purpose, the Partnership may acquire, hold, maintain, develop, own, operate, improve, lease, manage, sell, finance or transfer the Project; or portions thereof; and engage in any other activities deemed by the Managing General Partner in its sole discretion to be incidental or related thereto.

d. Principal Place of Business. The principal place of business of the

Partnership shall be maintained at 2666 Military Road, Arlington, Virginia 22207. The Managing General Partner may from time to time change such office and the principal place of business and in such event the Managing General Partner shall notify the Limited Partners prior to the effective date of such change.

e. Term. The term of the Partnership commenced on the date that the

certificate of limited partnership (the "Certificate") of the Partnership was filed in the office of the State Corporation Commission of the

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mearungs:

Commonwealth of Virginia, in accordance with the Act and shall continue until the winding up and liquidation of the Partnership.

f. Filings.

i. The Managing General Partner has caused the Certificate to be filed in the appropriate offices of the Commonwealth of

ViIginia ill accordance with the provisioIIs of the Act. The Managing General Partner shall take any and all other actions reasonably necessary to perfect and maintain the status of the Partnership as a limited partnership under the laws of the Commonwealth or similar type of entity under the laws of any other states or jurisdictions in which the Partnership may engage in business. The Managing General Partner shall cause amendments to the Certificate to be filed whenever required by the Act. Such amendments may be executed by the Managing General Partner or by any person designated in the amendment as a new General Partner.

ii. Upon dissolution, the Managing General Partner shall promptly execute and cause to be filed a certificate of dissolution in accordance with the Act and the laws of any other states or jurisdictions in which the Partnership engages in business.

2. DEFINITIONS

As used in this Agreement, the following terms shall have the following

a. Agreement or Partnership Agreement means this Agreement of

Limited Partnership, as amended from time to time.

b. Capital Account means the bookkeeping account maintained for

each Partner in accordance with Treasury Regulations issued under Section 704(b) of the Code.

c. Capital Contribution means, with respect to any Partner, the

amount of money and the initial Gross Asset Value of any property (other than money) contributed to the Partnership by such Partner or attributable to a Partnership Interest transferred to such Partner (whether or not for consideration).

d. Code means the Internal Revenue Code of 1986, as amended from

time to time (or any corresponding provisions of succeeding law).

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8. Depreciation means, for each Fiscal Year or other period, an

amount equal to the depreciation, amortization, or other cost recovery deduction allowable for federal income tax purposes with respect to an asset for such Fiscal Year or other period, except that if the Gross Asset Value of an asset differs from its adjusted basis for federal income tax purposes at the beginning of such Fiscal Year or other period, Depreciation shall be an amount which bears the same ratio to such

beginning Gross Asset Value as the federal income tax depreciation, amortization, or other cost recovery deduction for such Fiscal Year or other period bears to such beginning adjusted tax basis. In the event that the federal income tax depreciation, amortization, or other cost recovery deduction is zero, Depreciation shall be determined with reference to such beginning Gross Asset Value using any reasonable method.

f. Fiscal Year means the twelve-month period ending June 30th in

each year.

g. General Partner means any Person who (i) is referred to as a

General Partner in the first Section of this Agreement or has become a General Partner pursuant to the terms of this Agreement, and (ii) has not ceased to be a General Partner pursuant to the terms of this Agreement.

h. Interest shall mean, with respect to any Partner, such Partner's Interest in the capital of the Partnership; and Percentage Interest shall mean such Interest expressed as a percentage of all Partners' Interests in the capital of the Partnership; and General Partner Percentage Interest with respect to any General Partner, shall mean such General Partners' Interest in the Partnership, expressed as a percentage of combined total Interests of all General Partners. Each Partner's initial Percentage Interest shall be as reflected on Schedule A attached hereto.

i. Limited Partner means any Person whose name is set forth on

Schedule A hereto as a Limited Partner or any Person who has been admitted as an additional or Substitute Limited Partner pursuant to the terms of this Agreement.

j. Majority in Interest shall mean those Partners holding in the

aggregate more than fifty percent (50%) of all of the Percentage Interests in the Partnership.

k. Managing General Partner shall mean the General Partner, if there

be only one, and if there be more than one, that General Partner with General Partner Percentage Interest equal to or exceeding eighty percent (80%); and if there be no General Partner with such General Partner Percentage Interest, Managing General Partner shall mean the General Partner with the greatest General Partner Percentage Interest.

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I. Net Cash Flow means, for each Fiscal Year, the Partnership's

Profits (for this purpose any Losses shall be treated as negative Profits), adjusted as follows:

i. Increased by the following:

(a) Any receipts which are not included in the computation of Profits (such as capital contributions, loan proceeds, and withdrawals from reserves).

(b) Any deductions not involving cash expenditures (such as depreciation, amortization and other cost recovery deductions).

ii. Decreased by the following:

(a) All expenditures which are not deducted in determining Profits (such as expenditures for capital improvements, asset acquisitions, and loan repayments).

(b) Contributions to any reserve established by the Managing General Partner (the amount of which shall be in the sole discretion of the General Partner) for anticipated working capital needs, improvements, reinvestments or any other purposes the Managing General Partner may determine is necessary or appropriate for the operation of the Partnership.

m. Partner means any General Partner or any Limited Partner, where no distinction is required by the context in which the term is used herein.

n. Partnership means the partnership continued pursuant to this

Agreement and the partnership continuing the business of this Partnership in the event of dissolution as herein provided.

o. Partnership Property means all real and personal property acquired

by the Partnership and any improvements thereto, and shall include both tangible and intangible property.

p. Person means any individual, partnership, corporation, trust, or

other entity.

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q. Profits and Losses means, for each fiscal year or other period, an

amount equal to the Partnership's taxable income or loss for such year or period, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Section 703(a)(l) of the Code shall be included in taxable income or loss), with the following adjustments:

i. Income of the Partnership that is exempt from federal income tax and not otherwise taken into account in computing Profits or Losses shall be added to such taxable income or loss.

ii. Expenditures of the Partnership described in

Section 705(a)(2)(b) of the Code or treated as such expenditures pursuant to Treasury Regulation § 1.704- l(b)(2)(iv)(i), and not otherwise taken into account in computing Profits or Losses shall be subtracted from such taxable income or loss.

iii. In lieu of the depreciation, amortization, and other cost recovery deductions taken into account in computing taxable income or loss, there shall be taken into account Depreciation for such fiscal year or other period.

r. Transfer shall mean to sell, assign, transfer, gift, donate, pledge,

bequeath, devise or otherwise dispose of or encumber to any Person other than the Partnership.

s. Treasury Regulations means the regulations promulgated under the

Code, as such regulations may be amended from time to time (including temporary regulations and corresponding provisions of succeeding regulations).

3. CAPITAL CONTRIBUTIONS

a. Contributions of Partners. Simultaneous with the execution hereof,

each Partner shall make an initial contribution to the capital of the Partnership of cash or property in the amount and kind set forth next to that Partner's respective name on Schedule A attached hereto. The Partners shall not be required to make any additional capital contributions or advance any funds to the Partnership, except as expressly provided herein.

b. Limited Liability of Limited Partners. No Limited Partner shall be

liable for the debts, liabilities, contracts, or any other obligations of the Partnership. Except as otherwise provided by applicable state law, a Limited Partner shall be liable only to make his Capital Contributions and

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shall not be required to lend any funds to the Partnership or, after his Capital Contributions have been paid, to make any additional Capital Contributions to the Partnership.

4. CAPITAL ACCOUNTS

Maintenance of Capital Accounts. The Partnership shall maintain a Capital Account for each Partner in accordance with Treasury Regulations issued under Section 704(b) of the Code.

5. ALLOCATIONS

Profits and Losses. Profits and losses of the Partnership shall be distributed in accordance with the Partners' Percentage Interest.

6. DISTRIBUTIONS

a. Net Cash Flow. Except as otherwise provided in Section 6 hereof,

Net Cash Flow, if any, shall be distributed once annually, at such time as the Managing General Partner, in its sole discretion, shall determine and agree, in accordance with the Partners' Percentage Interests. Any distribution made pursuant to this Section 6 shall be to all Partners in accordance with each Partner's Percentage Interest as it exists on the date of such distribution.

b. Special Distribution of Project Proceeds. It is foreseen by the

Partners that after payment of all costs of development for the Project, including, without limitation, fees to third-party vendors and consultants, a portion of the funds from financing sources utilized by the Partnership for development may remain unexpended ("Remaining Proceeds"). The Partners agree that such funds should be distributed to the General Partner(s) according to their General Partner Percentage Interest, as compensation for their development services.

c. Distributions Upon Liquidation. Notwithstanding Section 6.a

hereof, if all or substantially all ofthe assets of the Partnership are sold in connection with a liquidation of the Partnership, or if the Partnership is otherwise liquidated, the assets of the Partnership shall be distributed in the following order and priority:

i. First, to payment of the debts and liabilities of the Partnership (other than those to Partners) in the order of priority provided by law, provided that the Managing General Partner shall first pay, to the extent permitted by law, liabilities with respect to which any Partner is or may be personally liable.

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ii. Second, to payment of the expenses of liquidation of the Partnership in the order of priority provided by law, provided that the Managing General Partner shall first pay, to the extent permitted by law, liabilities or debts owed to Partners.

iii. Third, to the setting up of such reserves as the Managing

eneraI Partner may deem reasonably necessary for any contingent or unforeseen liabilities or obligations of the Partnership arising out of or in connection with the Business, provided that any such reserve will be held by the Managing General Partner for the purposes of disbursing such reserves in payment of any of the aforementioned contingencies and at the expiration of such period as the Managing General Partner shall deem advisable (but in no case to exceed eighteen (18) months from the date of liquidation unless an extension of time is consented to by a majority in Interest of the Limited Partners), to distribute the balance thereafter remaining in the manner hereinafter provided.

iv. The balance of the proceeds, if any, to be distributed on or before the later of (i) the end of the taxable year during which such liquidation occurs or (ii) ninety (90) days after the date of such liquidation, in accordance with the positive

. Capital Account balances of the Partners, as determined after taking into account all Capital Account adjustments required by Treasury Regulation § 1. 704-1 (b) for the taxable year of the Partnership in which such liquidation occurs.

7. MANAGEMENT

a. Authority of the Managing General Partner. Subject to the

limitations and restrictions set forth below and otherwise in this Agreement, the Managing General Partner shall have the exclusive right to manage and control the day-to-day operations, business and investments, and affairs of the Partnership, and shall have all of the rights and powers which may be possessed by a general partner under the Act, including, without limitation, the following right and power:

i. To make final investment decisions of the Partnership;

ii. To sell, finance or refinance the assets of the Partnership in pursuit of the Partnership's purpose as set forth in Section 1 of this Agreement and to exercise any rights or powers possessed by the Managing General Partner thereunder;

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iii. To purchase, hold for investment and dispose of, securities and to enter into agreements with other parties with respect to any investment activities, which agreements may contain such terms, conditions and provisions as the Managing General Partner shall approve;

iv. To purchase from or through others contracts ofliability,

casualty and other insurance which the Managing General Partner deems advisable, appropriate or convenient for the protection of the Investments or other assets or affairs of the Partnership or for any purpose convenient or beneficial to the Partnership;

v. To acquire by purchase, lease, or otherwise any real or personal property which may, in the sole discretion of the Managing General Partner, be necessary, convenient, or incidental to the accomplishment of the purposes of the Partnership;

vi. To invest the funds of the Partnership in any medium or form of investment whatsoever;

vii. To pay with Partnership funds any and all fees and expenses incurred in the organization of the Partnership;

viii. To appoint, employ, or contract with any person, the

Managing General Partner may in its sole discretion deem necessary or desirable for the management of the Partnership, which persons may, under the supervision of the Managing General Partner: administer the day-to-day operations of the Partnership; act as consultants, accountants, correspondents, attorneys, brokers, escrow agents, or in any other capacity deemed by the Managing General Partner as necessary or desirable; investigate, select and, on behalf of the Partnership, conduct relations with persons acting in such capacities and pay appropriate fees to, and enter into appropriate contracts with, or employ, or retain services performed or to be performed by any of the foregoing persons in connection with the Investments acquired, sold, or otherwise disposed of; perform or assist in the performance of such administrative or managerial functions necessary in the management of the Partnership; and perform such other acts or services for the Partnership as the Managing General Partner, in its sole and absolute discretion, may approve;

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ix. To execute and deliver such agreements, contracts, documents and instruments with such parties and to give such receipts, releases and discharges with respect to all of the foregoing and any matters incident thereto as the Managing General Partner may deem advisable, appropriate or convenient;

x.

To review all proposed acquisitions by purchase, lease, or otherwise any real or personal property; and

xi. To review and approve annual budgets of the Partnership

b. Authority of General Partner. Subject to the limitations and

restrictions set forth in this Agreement, a General Partner shall have the following right and power:

i. To receive all financial and operational data of the Partnership; and

ii. To review and approve (with the consent of the Managing General Partner) any sale of Partnership assets;

c. Right to Rely on General Partner. Any Person dealing with the

Partnership may rely upon a certificate signed by a General Partner as to any of the following:

i. The identity of any Partner.

ii. The existence or nonexistence of any fact or facts which constitute a condition precedent to acts by a Managing General Partner.

iii. The Persons who are authorized to execute and deliver any instrument or document of the Partnership.

d. Restrictions on Authority of General Partner.

i. Without the consent of all of the Partners, no Managing General Partner or General Partner shall have the authority to do any of the following:

(a) Any act in contravention of this Agreement;

(b) Confess a judgment against the Partnership;

(c) To knowingly perform any act that would subject any Limited Partner to liability as a general partner in any jurisdiction.

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i i. Without the consent of a Maj ority in Interest of the Partners, no General Partner shall not have the authority to (a) elect to dissolve the Partnership; or (b) amend this Agreement in any manner other than as specifically permitted herein.

e. Duties and Obligations of Managing General Partner. The

Managing General Partner shall take all actions which may be necessary or appropriate (a) for the continuation of the Partnership's valid existence as a limited partnership under the laws of the Commonwealth of Virginia (and of each other jurisdiction in which such existence is necessary to protect the limited liability of the Limited Partners or to enable the Partnership to conduct the business in which it is engaged) and (b) for the acquisition, development, maintenance, preservation, and operation of Partnership Property in accordance with the provisions of this Agreement and applicable laws and regulations.

8. RIGHTS AND OBLIGATIONS OF LIMITED PARTNERS

a. Voting Rights. Each Limited Partner shall have the right to vote on the matters explicitly set forth in this Agreement as requiring the vote or consent of Limited Partners.

b. No Right to Participate in Business. Except as set forth in

Section 8.a, no Limited Partner may participate in the management and control of the business or affairs of the Partnership or to act to bind the Partnership in any way.

C. General Partner as Attorney-in-Fact. Each Limited Partner hereby

makes, constitutes and appoints the Managing General Partner, with full power of substitution and resubstitution, its true and lawful attorney-infact for it and in its name, place, and stead and for its use and benefit, to sign, execute, certify, acknowledge, swear to, file, and record (a) this Agreement and all agreements, certificates, instruments, and other documents amending or changing this Agreement as now or hereafter amended which the Managing General Partner may deem necessary, desirable, or appropriate including, without limitation, amendments or changes to reflect (i) the exercise by the Managing General Partner of any power granted to it under this Agreement; (ii) any amendments adopted by the Partners in accordance with the terms of this Agreement; (iii) the admission of any substituted Partner; and (iv) the disposition by any Partner of his Interest in the Partnership; and (b) any certificates, instruments, and documents as may be required by, or may be appropriate under, the laws of any state or jurisdiction in which the Partnership is doing or intends to do business. Each Limited Partner authorizes the Managing General Partner as such attorney-in-fact to take any further action which such attorney-in-fact shall consider necessary or advisable in

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connection with any of the foregoing, hereby giving each such attorney-infact full power and authority to do and perform each and every act or thing whatsoever requisite or advisable to be done in connection with the foregoing as fully as such Limited Partner might or could do personally, and hereby ratifying and confirming all that any such attorney-in-fact shall lawfully do or cause to be done by virtue thereof or hereof.

a. Removal of General Partners. Any Limited Partner, holding a Majority in Interest, may remove any General Partner with or without cause, at such Limited Partner's sole discretion, by providing notice of such removal to the removed General Partner and the Managing General Partner. Such removed General Partner shall be deemed to have transferred its entire Interest to the Managing General Partner immediately upon receipt of said notice. If the Managing General Partner is removed, such Managing General Partner's Interests shall be deemed to have transferred to that General Partner with the largest General Partner Percentage Interest.

9. BOOKS OF ACCOUNT AND FINANCIAL REPORTS

a. Books of Account. At all times during the continuance of the

Partnership, the Managing General Partner shall keep or cause to be kept full and true books and records of account in which shall be entered fully and accurately the business transactions arising out of and in connection with the conduct of the Partnership.

b. Access by Limited Partner. The Limited Partner shall have access

to the Partnership books and records of accounts during business hours.

10. TRANSFERABILITY OF PARTNERSHIP INTERESTS

a. Restrictions on Transfers. Except as otherwise permitted by this

Agreement, no General Partner or Limited Partner shall Transfer all or any portion of their respective Interests.

b. Permitted Limited Partner Transfers. A Limited Partner may

Transfer all or any portion of its Interests to (a) any other Limited Partner, or (b) a third party upon approval by the Managing General Partner.

C. Permitted General Partner Transfers. A General Partner may

Transfer all or any portion of its Interests to (a) any other General Partner, or (b) a third party upon approval by a Majority in Interest of Partners; provided, however, that the Managing General Partner may, without approval of any other Partner, transfer ten percent (10%) of its Interests, provided that it remain the Managing General Partner.

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11. DISSOLUTION AND WINDING UP .

Dissolution. The Partnership shall be dissolved upon the first to occur of any of the following:

i. July 1,2077.

ii. The sale of all or substantially all of the Partnership Property.

12. RIGHT OF FIRST REFUSAL

The Managing General Partner shall execute the PURCHASE OPTION AND RIGHT OF FIRST REFUSAL AGREEMENT attached hereto as Exhibit A.

13. AMENDMENTS AND MEETINGS

a. Amendments. Amendments to this Agreement shall be adopted

and be effective as an amendment hereto if it receives the affirmative vote of a Majority in Interest of the Partners, unless the amendment relates to a provision requiring a higher percentage for action thereunder, in which case the affirmative vote of such higher percentage shall be required.

b. Notwithstanding. Notwithstanding Section 13.a. hereof, this

Agreement may be amended by the Majority General Partner, without the consent of any of the Limited Partners or any General Partner: (a) to add to the representations, duties, or obligations of the Managing General Partner or surrender any right or power granted to the Managing General Partner herein for the benefit of the Limited Partners; and (b) to cure any ambiguity, to correct or supplement any provision hereof which may be inconsistent with any other provisions hereof, or to make any other provision with respect to matters or questions arising under this Agreement not inconsistent with the intent of this Agreement; provided that no amendment shall be adopted pursuant to this Section unless the adoption thereof is for the benefit of or not adverse to the Interests of the Limited Partners.

14. MISCELLANEOUS

a. Binding Effect. Except as otherwise provided in this Agreement,

every covenant, term, and provision of this Agreement shall be binding upon and inure to the benefit of the Partners and their respective heirs, legatees, legal representatives, successors, transferees, and assigns.

b. Construction. Every covenant, term, and provision of this

Agreement shall be construed simply according to its fair meaning and not strictly for or against any Partner.

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c. Headings. Section and other headings contained in this Agreement

are for reference purposes only and are not intended to describe, interpret, define, or limit the scope, extent, or intent of this Agreement or any provision hereof.

d. Severability. Every provision of this Agreement is intended to be

severable. If any term or provision hereof is illegal or invalid for any

reason whatsoever, such Illegality or invalidity shall not affect the validity or legality of the remainder of this Agreement.

e. Incorporation by Reference. Every exhibit, schedule, and other

appendix attached to this Agreement and referred to herein is hereby incorporated in this Agreement by reference.

f. Variation of Pronouns. All pronouns and any variations thereof

shall be deemed to refer to masculine, feminine, or neuter, singular or plural, as the identity of the Person or Persons may require.

g. Governing Law. The laws of the Commonwealth of Virginia shall

govern the validity of this Agreement, the construction of its terms, and the interpretation of the rights and duties of the Partners.

h. Sole and Absolute Discretion. Except as otherwise provided in

this Agreement, all actions which a Managing General Partner may take and all determinations which Managing General Partner may make pursuant to this Agreement may be taken and made at the sole and absolute discretion of such Managing General Partner. Except as otherwise provided in this Agreement, all actions which a Limited Partner may take and all determinations which a Limited Partner may make pursuant to this Agreement may be taken and made at the sole and absolute discretion of such Limited Partner.

i. In the event any General Partner is removed pursuant to Section

S.d. hereof, all Partners hereby agree that this Agreement and the Certificate shall be appropriately amended to reflect such removal without execution by such removed General Partner.

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IN WITNESS WHEREOF, the parties have entered into this Agreement of Limited Partnership on the day first set forth above.

GENERAL PARTNER:

ARBELO ASSOCIATES, LLC

By: Robert Pierre Johnson Housing Development Corporation of the National Capital Area, a Virginia nonprofIt corporation,

Sole Member

LIMITED PARTNER:

ROBERT PIERRE JOHNSON HOUSING DEVELOPMENT CORPORATION OF THE NATIONAL CAPITAL AREA,

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GENERAL PARTNER:

LIMITED PARTNER:

SCHEDULE A

to

AGREEMENTOFLThflTEDPARTNERSHW

of

ARBELO LIMITED PARTNERSHIP

(a Virginia Limited Partnership)

Partner N arne

Capital Contribution

ARBELO ASSOCIATES, LLC

$10.00

ROBERT PIERRE JOHNSON HOUSING DEVELOPlVIENT CORPORATION OF THE NATIONAL CAPITAL AREA

$100.00

22

\

Pa~tnership Interest

00.01%

99.99%

PURCHASE OPTION AND RIGHT OF FIRST REFUSAL AGREEMENT

THIS PURCHASE OPTION AND RIGHT OF FIRST REFUSAL AGREEMENT ("Agreement") is made and entered into as of May 14,2009 by and among ARBELO LIMITED PARTNERSHIP, a Virginia limited partnership ("Partnership") and ROBERT PIERRE JOHNSON HOUSING DEVELOPMENT CORPORATION OF THE NATIONAL CAPITAL AREA, a Virginia nonprofit corporation ("Grantee").

WHEREAS, the Partnership has been formed to acquire, develop, finance, rehabilitate, own, maintain, operate and sell or otherwise dispose of a multifamily apartment complex intended for rental to low-income families, commonly known as Arbelo Apartments, and located in the City of Alexandria, Virginia (the "Apartment Complex") on the land (the "Land") more particularly described on Exhibit A attached hereto, which land is expected to being leased to the Partnership by the Grantee pursuant to a long-term ground lease; and

WHEREAS, the Apartment Complex is or will be subject to one or more governmental agency regulatory agreements (collectively, the "Regulatory Agreement") restricting its use to low-income housing (collectively, the "Use Restrictions"); and

WHEREAS, Grantee and the Partnership desire to provide for the continuation of the Apartment Complex as low-income housing upon termination of the Partnership by Grantee or its Permitted Assignee (as hereinafter defined) by purchasing the Apartment Complex at the applicable price determined under this Agreement and operating the Apartment Complex in accordance with the Use Restrictions; and

WHEREAS, as a condition precedent to the formation of the Partnership pursuant to the Agreement of Limited Partnership of the Partnership (the "Partnership Agreement"), Arbelo Associates, LLC, the general partner or the Partnership (the "General Partner"), has negotiated and required that the Partnership shall execute and deliver this Agreement in order to provide for such low-income housing, and the partners of the Partnership have consented to this Agreement in order to induce General Partner to execute and deliver the Partnership Agreement.

NOW, THEREFORE, in consideration of the foregoing, of the mutual promises of the parties hereto, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is agreed as follows:

1. Grant of Option. The Partnership hereby grants to Grantee an irrevocable option

(the "Option") to purchase the improvements, fixtures, and personal property comprising the Apartment Complex, located on the Land and owned by the Partnership at the time of purchase (the "Improvements"), after the close of the fifteen (15) year low-income housing tax credit compliance period for the Apartment Complex (the "Compliance Period"), as determined under Section 42(i)(1) of the Internal Revenue Code of 1986, as amended (the "Code").

2. Grant of Refusal Right. In the event that the Partnership determines it desires to

sell the Improvements, Grantee shall have a right of first refusal to purchase the Improvements (the "Refusal Right") after the close of the Compliance Period, on the terms and conditions set forth in this Agreement and subject to the conditions precedent to exercise of the Refusal Right specified herein. Notwithstanding the foregoing, the Refusal Right may only be exercised under

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terms and conditions that satisfy the requirements of Section 42(i)(7) of the Code. In addition to all other applicable conditions set forth in this Agreement: (a) the foregoing grant of the Refusal Right shall be effective only if Grantee is a qualified nonprofit organization, as provided for in Section 42(h) of the Code currently and remains so qualified until (i) the Refusal Right has been exercised and the resulting purchase and sale has been closed or (ii) the Refusal Right has been assigned to a Permitted Assignee as described in Section 8 hereof; and (b) any assignment of the Refusal Right permitted under this Agreement and Refusal Right so assigned shall be effective only if the Assignee is at the time of the assignment and remains at all times thereafter, a Permitted Assignee as described in Section 9 hereof, as determined in its judgment by counsel to the General Partner. Prior to accepting any bona fide offer to purchase the Improvements, the Partnership shall notify Grantee and the partners of such offer and deliver to each of them a copy thereof. The Partnership shall not accept any such offer unless and until the Refusal Right has expired without exercise by Grantee under Section 6 hereof. Neither a foreclosure by nor deed in lieu of foreclosure transfer to any mortgagee holding a security interest in the Improvements shall be considered a sale, purchase or transfer for the purposes of this Agreement. The Grantee shall have the right to disapprove any refinancing of the Project prior to the exercise and closing or termination of the Refusal Rights.

3. Purchase Price Under Option. The purchase price for the Improvements pursuant

to the Option shall be the greater of the following amounts:

(a) Debt and Taxes. An amount sufficient (i) to pay all debts (including

partner loans) and liabilities of the Partnership upon its termination and liquidation as projected to occur immediately following the sale pursuant to the Option, and (ii) to distribute to the partners of the Partnership cash proceeds equal to the taxes projected to be imposed on the partners of the Partnership as a result of the sale of the Improvements pursuant to the Option; or

(b) Fair Market Value. The fair market value of the Improvements.

4. Purchase Price Under Refusal Right. The purchase price for the Improvements

pursuant to the Refusal Right shall be equal to the sum of (a) an amount sufficient to pay all debts (including partner loans) and liabilities of the Partnership upon its termination and liquidation as projected to occur immediately following the sale pursuant to the Refusal Right, and (b) an amount sufficient to distribute to the Partnership cash proceeds equal to the taxes projected to be imposed on the partners of the Partnership as a result of the sale pursuant to the Refusal Right. In no event shall the purchase price as calculated hereunder be less than the minimum purchase price as defined in Section 42 (i) (7) of the Code. The Grantee shall have the right to disapprove any refinancing of the Project prior to the exercise and closing or termination of the Refusal Rights.

5. Conditions Precedent. Notwithstanding anything in this Agreement to the

contrary, the Option and the Refusal Right granted hereunder shall be contingent on the following:

(a) Requisite Approvals. All required approvals and consents of lenders,

including, without limitation, the City of Alexandria (the "City") as a lender, and any other lenders, if any, shall have been obtained (the "Requisite Approvals"); and

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(b) Regulatory Agreement. Either (i) the Regulatory Agreement shall have

been entered into and remained in full force and effect, and those Use Restrictions to be contained therein shall have remained unmodified as to material terms affecting the affordability of the Apartment Complex or income eligibility standards therein, or (ii) if the Regulatory Agreement is no longer in effect, such Use Restrictions shall have remained in effect by other means and shall continue in effect by means of covenants recorded against the Land.

If any or all of such conditions precedent have not been met, the Option and the Refusal Right shall be voidable by the Partnership, and the Apartment Complex may be sold or transferred in the sole discretion of the Partnership as otherwise provided in the Partnership Agreement, subject to the rights oflenders, if any, to the Partnership.

6. Exercise of Option or Refusal Right. The Option and the Refusal Right may each

be exercised by Grantee by (a) giving written notice of its intent to exercise the Option or the Refusal Right to the Partnership and the General Partner in the manner provided herein, and (b) complying with the contract and closing requirements of Section 7 hereof. Any such notice of intent to exercise the Option shall be given not earlier than the last twelve (12) months prior to the end of the Compliance Period nor later than the end of the forty eighth (48th) month following the end of the Compliance Period. Any such notice of intent to exercise the Refusal Right shall be given within sixty (60) days after Grantee has received the Partnership's notice of its intent to sell the Improvements. In either case, the notice of intent to exercise the Option or the Refusal Right shall specify a closing date that will be no later than ninety (90) days from the date of the notice of intent to exercise; provided that such date is not prior to the end of the Compliance Period. If the foregoing requirements (including those of Section 7 hereof) are not met as and when provided herein, the Option or the Refusal Right, or both, as applicable, shall expire and be of no further force or effect. Upon notice by Grantee of its intent to exercise either the Option or the Refusal Right, the remaining unexercised right shall be voidable by the Partnership.

7. Contract and Closing. Upon exercise of the Option or the Refusal Right, the

Partnership and Grantee shall exercising best efforts and good faith to enter into a written contract for the purchase and sale of the Improvements in accordance with this Agreement, which contract shall contain such other terms and conditions as are standard and customary for similar commercial real estate transactions in the geographic area in which the Improvements are located and provide for a closing not later than the date specified in Grantee's notice of intent to exercise the Option or the Refusal Right, as applicable, which date shall not be inconsistent with the requirements of Section 6 hereto. In the absence of any such contract, this Agreement shall be specifically enforceable in accordance with its terms upon the exercise of the Option or the Refusal Right, as applicable. The purchase and sale hereunder shall be closed through a deedand-money escrow with the title insurer for the Improvements or another mutually acceptable title company.

8. Assignment. Grantee may assign all or any of its rights under this Agreement to

(a) a qualified nonprofit organization, as defined in Section 42(h)(5)(C) of the Code, (b) a government agency, or (c) a tenant organization (in cooperative form or otherwise) or resident management corporation of the Apartment Complex, that demonstrates its ability and willingness to maintain the Improvements as low-income housing in accordance with any Use Restrictions and that otherwise meets the requirements of Section 42(i)(7)(4) of the Code (each a "Permitted

3

Assignee"), subject to any Requisite Approvals; the prior written consent of the City and the partners, which shall not be unreasonably withheld if the proposed Permitted Assignee demonstrates that it is reputable and creditworthy and is a capable, experienced owner and operator of residential rental property; and if such assignment causes no adverse legal or tax consequences to the partners of the Partnership; and subject in any event to the conditions precedent to the Refusal Right and the Option set forth herein. Prior to any assignment or proposed assignment of its rights hereunder, Grantee shall give written notice thereof to the Partnership and the General Partner. Upon any permitted assignment hereunder, references in this Agreement to Grantee shall mean the Permitted Assignee where the context so requires, subject to all applicable conditions to the effectiveness of the .rights granted under this Agreement and so assigned. No assignment of Grantee's rights hereunder shall be effective unless and until the Permitted Assignee enters into a written agreement accepting the assignment and assuming all of Grantee's obligations under this Agreement and copies of such written agreement are delivered to the Partnership. Except as specifically permitted herein, Grantee's rights hereunder shall not be assignable.

9. Successors and Assigns, Termination, This Agreement shall be binding on the

parties hereto, their heirs, successors, and assigns. However, this Agreement may not be assigned by any party hereto without the consent of the Partnership, nor may it be terminated without the consent of the General Partner, which consent shall not be unreasonably withheld.

11. Defined Terms. Capitalized terms used in this Agreement and not specifically

defined herein shall have the same meanings assigned to them in the Partnership Agreement.

12. Severability of Provisions. Each provision of this Agreement shall be considered

separable and if for any reason any provision which is not essential to the effectuation of the basic purposes of this Agreement is determined to be invalid and contrary to any existing or future law, such invalidity shall not impair the operation of or affect those provisions of this Agreement which are valid.

13. Counterparts. This Agreement may be executed in several counterparts, each of

which shall be deemed to be an original copy and all of which together shall constitute one agreement binding on all parties hereto, notwithstanding that all the parties shall not have signed the same counterpart.

14. No Continuing Waiver. The waiver by any party of any breach of this Agreement

shall not operate or be construed to be a waiver of any subsequent breach.

15. Applicable Law. This Agreement shall be construed and enforced in accordance

with the laws of the Commonwealth of Virginia.

16. Survival. This agreement shall not survive the foreclosure by or deed in lieu of

foreclosure to any mortgagee holding a security interest in the Improvements.

4

PARTNERSHIP:

ARBELO LIMITED PARTNERSHIP, a Virginia limited partnership

By: Arbelo Associates, LLC, a Virginia limited liability company and its general partner

By: Robert Pierre Johnson Housing Development Corporation of the National Capital Area, a Virginia Iprofit ~oration, its sole and emb r

GRANTEE:

ROBERT PIERRE JOHNSON HOUSING DEVELOPMENT CORPORATION OF THE NATIONAL CAPITAL AREA, a Virginia nonprofit corporation

KH# 103459.2

5

COUNTYOF \!I(j l"nUt / (&r1~~X )

• I ss

COMMONWEALTH OF VIRGINIA )

Before me, the undersigned Notary Public in and for the aforesaid Commonwealth, personally appeared Herbert Cooper-Levy in his capacity as Executive Director/CEO of Robert Pierre Johnson Housing Development Corporation of the National Capital Area, the Sole and Managing Member of Arbelo Associates, LLC and being duly sworn, acknowledged the execution of the foregoing Purchase Option and Right of First Refusal Agreement.

Witness my hand and notarial seal this t ~ff.. day of May, 2009.

My Commission Expires:

O~- ~q- ~D12

Notary Public

COUNTY OF fer I~,{tv.

)

ss

COMMONWEALTH OF VIRGINIA )

Before me, the undersigned Notary Public in and for the aforesaid Commonwealth, personally appeared Herbert Cooper-Levy in his capacity as Executive Director/CEO of Robert Pierre Johnson Housing Development Corporation of the National Capital Area, and being duly sworn, acknowledged the execution of the foregoing Purchase Option and Right of First Refusal Agreement.

Witness my hand and notarial seal this 1J.!"k day of May, 2009.

6

Notary Public

My Commission Expires: 0;). - d..-q - ;)_ 0 ( ?_

Exhibit A Legal Description

PARCEL ONE: Being part of the Easterly one-half of Lot numbered Two (2), as shown upon "Plat showing property of John W. Beckley Heirs' attached to and made a part of Partition Deed of record in Liber 118, Page 195, Arlington County, Virginia land records and being more particularly described as follows: to-wit: BEGINNING at a point in the Northerly line of Bashford Road (which is 40 ft. wide) said point marking the present Southeasterly corner of original Lot 2; thence running with Bashford Road S. 88 degrees 51' West 74.82 feet to a point; thence leaving Bashford Road and running N. 1 degrees 09' W. 247.01 feet to a point; thence running parallel to Bashford Road N. 88 degrees 51' E. 74.82 feet to a point; thence running S. 1 running parallel to Bashford. Road N. 88 degrees 51' E. 74.82 feet to a point; thence running S. 1 degree 09' E. 247.01 feet to the point of beginning, containing 18,481 square feet.

PARCEL TWO: Being the West one-half of Part of Lot numbered Two (2) as shown upon "Plat of Property of John W. Beckley Heirs' attached to and made a part of partition Deed duly of record among the Arlington County, Virginia land records in Liber 118, page 195, and being more particularly described according to survey of Edward S. Holland, C.L.S., as follows:

BEGINNING at a point in the northerly line of Bashford Road (40 feet wide) said point being in the westerly line of Original Lot 2 of John W. Beckley, Sr. Estate and running thence with westerly line N. 1 degree 09' West 247.01 feet to a point; thence parallel to Bashford Road N. 88 degrees 51' East 74.83 feet to a point; thence S. 1 degree 09' East 247.01 feet to a point in the said northerly line of Bashford Road; thence with said line S. 88 degrees 51' West 74.83 feet to the point of beginning. Containing 18,434 square feet. LESS AND EXCEPT that certain portion conveyed to the Dept. of Highways recorded in Deed Book 738 at Page 652, to which reference is hereby made for a more particular description thereof.

For derivation of title see Deed Book 040033918 at Page 1184 & Deed Book 040033919 at Page 1187.

7

Arbela Limited Partnership Ownership Structure

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TABC

(VA SCC Certification)

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STATE CORPORATION COMMISSION

CJ?J'climon~ January 3, 2008

This is to certify that the certificate of timited partnership of

Arbeln Limited Partnership

was this day admitted' to record in this office ana that the said limited partnership is authorized' to transact its business su6ject to a[t Virginia raws appticable to the limited partnership and its business.

State Corporation Commission }lttest:

CIS0362

TABD

(Principal's Previous Participation Certification)

Previous Participation Certification

Development Name: Arbelo Apartments

----~-----------------------

Name of Applicant: Arbelo Limited Partnership

Controlling General Partner: Arbelo Associates, LLC ~~~~~~~---------------

INSTRUCTIONS:

This certification must be signed by an individual who is, or is authorized to act on behalf of the Controlling General Partner (if LP) or Managing Member (if LLC) of the Applicant, as designated in the Application. VHDA will accept an authorization document, which gives signatory authorization to sign on behalf of the principals.

2 Attach a resume for each principal of the general partnership (GP) or limited liability company (LLC) and an organization chart for the limited partrie!ship (LP) and LLC. -

3 A Schedule A is required for each principal of the GP.

4 For each property listed as "non-compliance found," please attach a detailed explanation of the nature of the noncompliance, stating whether or not it has been resolved.

5 The date of this certification must be no more than 30 days prior to submission of the Application.

Failure to disclose information about properties which have been found to be out of compliance or any material misrepresentations are grounds for rejection of an application and prohibition against future applications.

DEFINITIONS:

For the purpose of this Certification, the following definitions shall apply:

Development shall mean the proposed multifamily rental housing development identified above.

Participants shall mean the principals who will participate in the ownership of the development.

Principal shall mean any person (including any individual, joint venture, partnership, limited liability company, corporation, nonprofit organization, trust, or any other public or private entity) that (i) with respect to the proposed development, will own or participate in the ownership of the proposed development or (ii) with respect to an existing multifamily rental project, has owned or participated in the ownership of such project, all as more fully described hereinbelow. The person who is the owner of the proposed development or multifamily rental project is considered a principal. In determining whether any other person is a principal, the following guidelines shall govern:

1. In the case of a partnership which is a principal (whether as the owner or otherwise), all general partners are also considered principals, regardless of the percentage interest of the general partner;

2. In the case of a public or private corporation or organization or governmental entity that is a principal (whether as the owner or otherwise), principals also include the president, vice president, secretary, and treasurer and other officers who are directly responsible to the board of directors or any equivalent governing body, as well as all directors or other members of the governing body and any stockholder having a 25% or more interest;

3. In the case of a limited liability company (LLC) that is a principal (whether as the owner or otherwise), all members are also considered principals, regardless of the percentage interest of the member;

4. In the case of a trust that is a principal (whether as the owner or otherwise), all persons having a 25% or more beneficial ownership interest in the assets of such trust;

5. In the case of any other person that is a principal (whether as the owner or otherwise). all persons having a 25% or more ownership interest in such other person are also considered principals; and

6. Any person that directly or indirectly controls, or has the power to control, a principal shall also be considered a principal.

CERTIFICATIONS:

I hereby certify that all the statements made by me are true, complete and correct to the best of my knowledge and belief and are made in good faith, including the data contained in Schedule A and any statements attached to this certification.

1. I further certify that for the period beginning 10 years prior to the date of this Certification:

a. During any time that any of the participants were principals in any multifamily rental project, no project has been foreclosed upon, no mortgage has been in default, assigned to the mortgage insurer (governmental or private), nor has mortgage relief by the rnortgagee been given;

b. During any time that any of the participants were principals in any multifamily rental project, there has not been any breach by the owner of any agreements relating to the construction or rehabilitation, use, operation, management or disposition of the project;

c. To the best of my knowledge, there are no unresolved findings raised as a result of state or federal audits, management reviews or other governmental investigations concerning any multifamily rental project in which any of the participants were principals;

d. During any time that any of the participants were principals in any multifamily rental project, there has not been a suspension or termination of payments under any state or federal assistance contract for the project;

e. None of the participants has been convicted of a felony and is not presently, to my knowledge, the subject of a complaint or indictment charging a felony. A felony is defined as any offense punishable by imprisonment for a term exceeding one year, but does not include any offense classified as a misdemeanor under the laws of a state and punishable by imprisonment of two years or less;

f. None of the participants has been suspended, debarred or otherwise restricted by any federal or state governmental entity from doing business with such governmental entity; and

g. None of the participants has defaulted on an obligation covered by a surety or performance bond and has not been the subject of a claim under an employee fidelity bond.

2. I further certify that none of the participants is a Virginia Housing Development Authority (VHDA) employee or a member of the immediate household of any of its employees.

3. I further certify that none of the participants is participating in the ownership of a multifamily rental housing project as of this date on which construction has stopped for a period in excess of 20 days or (in the case of a multifamily rental housing project assisted by any federal or state governmental entity) which has been substantially completed for more than 90 days but for which requisite documents for closing, such as the final cost certification, have not been filed with such governmental entity.

4. I further certify that none of the participants has been found by any federal or state governmental entity or court to be in noncompliance with any applicable civil rights, equal employment opportunity or fair housing laws or regulations.

5. I further certify that none of the participants was a principal in any multifamily rental project which has been found by any federal or state governmental entity or court to have failed to comply with Section 42 of the Internal Revenue Code of 1986, as amended, during the period of time in which the participant was a principal in such

6. Statements above (if any) to which I cannot certify have been deleted by striking through the words. In the case of any such deletion, I have attached a true and accurate statement to explain the relevant facts and circumstances.

WARNINGl'F THIS CER CATION CONTAINS ANY MISREPRESENTATION OF A MATERIAL FACT, THE AUTHORITY MAY REJECT THE APPLIEATION F LOW-INCOME HOUSING TAX CREDITS AND MAY PROHIBIT THE SUBMISSION BY THE APPLICANT OF

APPLICATIO SF SUCH CREDITS IN THE FUTURE.

", l Herb Cooper-Levy, Executive Manager, Arbelo Associates, LLC Printed Name

Date (must be no more than 30 days prior to submission of the Application) Mew /2/ ZOO '1

Schedule A: List of All Tax Credit Developments for Each Principal to this Certification - J

Complete the following, using separate pagers) as needed, for each principal. List all developments that have received allocations of tax credits under Section 42 of the IRC.

Arbelo Associates, llC

Controlling G. P. of Proposed Projecf? ""Y---;:;--:-;-_ YorN

Principal's Name:

2

Controlling Non-
General Total Total low compliance
Name of Ownership Entity and Partner? Dev. Income Placed in 8609(s) Issue Found? YIN
Development Name/location Phone Number (Y/N) Units Units Service Date Date (Explain Yes)
Parkview Manor, Hyattsville, Parkview Manor Limited Y 54 48 6/30/2001
MD Partnership 703.549.7170 6/30/2001 No
Fairfield & Lynn D Fairfield Lynn Limited Y 80 80 12/18/2008
Apartments, Front Royal. Partnership 703.549.7170
VA Not yet issue d No
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45

1st PAGE TOTAL:

134

LlHTC as % of

96% Total Units

128

Herb Cooper-Levy 703.528.5606.13 herbcl@rpjhousing.org

Employment History

executive director, Robert Pierre Johnson Housing Development Corporation 2001- present

.:. Own and manage 373 units of affordable housing, 264 of which were purchased during my tenure .

• :. Operate volunteer home repair programs that fix over 100 units per year with over 4,000 volunteers .

• :. Operate 6 units of transitional housing for formerly homeless families.

coordinator, Cooperation Works 1999-2001

.:. Developed business plan for and launched Cooperation Works, a national association of cooperative business development centers .

• :. Provided organizational development services to the National Cooperative Business Association for new strategic initiative in cooperative business development.

.:. Developed Department of Defense Cooperative Housing Program to house senior enlisted and junior officers in newly constructed housing cooperatives on base land.

executive director, National Association of Housing Cooperatives 1984-1998

.:. Rebuilt organization into a nationally recognized institution .

• :. Changed the base of support from grants to completely self-supporting revenue .

• :. Upgraded training programs, publications and government relations role .

• :. Edited/authored the Cooperative Housing Bulletin and Cooperative Housing Journal. .:. Published seven-volume collection on developing and operating housing co-ops .

• :. Responsible for adding the provision into the Multifamily Assisted Housing Reform

and Affordability Act of 1997 preserving project based Section 8 for housing co-ops .

• :. Testified before Congress .

• :. Managed the development of over $8 million of housing .

• :. Managed a national program of26 VISTA volunteers.

executive director, College Park (MD) Housing Authority 1983-1984

.:. Managed a 1 08-unit public housing authority .

• :. Coordinated the $1 million renovation of its building .

• :. Maximized its resources and fully funded its reserves .

• :. Revitalized its social service programs.

Herb Cooper-Levy p.2

planner, Housing Opportunities Commission of Montgomery County, MD 1978- 1982

.:. Managed the development of over $12 million of housing .

• :. Purchased three properties, each for large scale development. .:. Coordinated parcel rezoning to permit intensified development.

planner, Montgomery County, MD, Department of Economic and Community Development 1977-1978

.:. Managed $4.5 million in Community Development Block Grant funds .

• :. Developed the Housing Improvement Program neighborhood conservation program .

• :. Planned and implemented neighborhood improvement projects.

planner, Alexandria (VA) Office of Community Development 1975-1977

.:. Planned and implemented 1 st neighborhood conservation program in Alexandria, V A. .:. Planned and implemented neighborhood improvement projects .

• :. Managed $3 million in Community Development Block Grant funds.

Affiliations

.:. Northern Virginia Affordable Housing Alliance, president

.:. Housing Committee, Arlington Implementation Task Force, chair .:. Alexandria Affordable Housing Initiatives Work Group, member .:. Fairfax County Affordable Housing Advisory Committee, member

.:. National Cooperative Business Association, former board second vice chair. .:. Alexandria Redevelopment & Housing Authority, former board vice chair .

• :. NA. of Housing & Redevelopment Officials/Potomac chapter, former president. .:. National Housing Conference, former board member .

• :. Cooperative Development Foundation, former board member.

Education

.:. Master's Degree in City and Regional Planning, Catholic University.

Marc A. Cooper

marc. cooper@att.net

408 South Payne Street, Alexandria VA 22314

tel: 703819-8039/703836-6009

Communications and Change Management Executive

Community and Team leader and innovator with extensive international experience Strong influence, communication, negotiation, management and facilitation skills

PROFESSIONAL EXPERIENCE

Capital One Bank McLean, VA and New York, NY

Senior Director, Communications March 2008 - present

Director, Communications September 2007 - March 2008

Responsible for the creation of communications team, channels and systems infrastructure and culture in newly formed banking division of Capital One (1, 000 branches in 9 states). Team lead for large-scale change and communications initiatives including mergers and acquisitions, divestitures, rebrandings, system changes, leadership transitions and new product launches. Sample activities include:

• Bank Communications Change Management and transformation lead, driving key workstreams in Chevy Chase Bank integration, long-term strategy implementation and national bank programs;

• Lead communications content strategy and development for the Bank President and several key members of the leadership team, including Chief Counsel, Chief of Staff, Strategy and Human Resources leaders;

• Drive bank communications strategy for safety and soundness communications to customers on financial positioning of Capital One Bank given economic factors;

• Lead communications and leadership strategy for State and Market Presidents Network, ensuring deep local market presence is balanced with national corporation; and

• Designed bank communications team coverage model, secured budget and recruited and put

into place a top-tier communications team.

Capital One Services, Inc McLean, VA

Director, Change Communications March 2006 - September 2007

Senior Manager, Change & Executive Communications December 2002 - March 2006

Led a team of enterprise-wide consultants working on internal communications for major corporate change initiatives. Worked directly with executive management in designing, planning and executing large-scale change management programs, including acquisitions, divestitures, cultural assessments and changes, new product launches, leadership changes, associate programs and others. Sample projects include:

• Responsible for communications in integration of North Fork Bancorp ($13 billion+ bank acquisition, 9,000+ employees), managing multi-pronged integration in Capital One's most significant acquisition. Project included creating communications function, building channels and infrastructure across 350+ locations, and cultural assessment and integration across entire enterprise;

• As communications lead for Bank Integration team, successfully integrated Hibernia National Bank ($5 billion bank acquisition, 6,000+ employees) from deal announcement, through hurricane Katrina / Rita impacts, deal close and brand conversion;

• Team lead on multiple site closures and divestitures, including outsourcing of all production functions (role included supplier negotiations and all messaging);

• Senior leadership changes: led all communications efforts around founder departures in Capital One and multiple acquired entities; and

• Developed and implemented proprietary change management communications scoping, assessment and implementation methodology. Toolset includes impact assessment,

Marc A. Cooper

marc.cooper@att.net

408 South Payne Street, Alexandria VA 22314

tel: 703819-8039/703836-6009

audience research, business engagement model, success measurement, team deployment, implementation and ongoing monitoring.

Martlet Consulting, LLC Alexandria, VA

President December 2001 - December 2002

Owner / operator of a communications and change management consulting firm. Focus was on implementing business strategy and creating measurable behavior change among key constituents and audiences. Sample projects:

• Health Care Consumerism Communications Strategy and Implementation for a Fortune 100 firm, with a goal to empower employees to make better health care decisions through an intuitive, interactive web interface combining health and wellness information. Project included initial interface design, end-user testing and multiple vendor selection and management.

• Change Management and Strategic Communications for a major financial services firm.

Engagement included communications needs assessment and system design, change leadership planning and implementation, and ongoing content design and delivery.

• Business Redesign and Strategy Implementation designed to transform a large construction firm into a professional organization. Project included communications strategy design and implementation through several channels, impacting over 3,000 employees in multiple business units.

Watson Wyatt Worldwide Washington, DC

Communications Consultant May 2000 - October 2001

Extensive work on cross-functional projects, including those focusing on communications strategy, change management, recruitment, orientation and training for Fortune 500 clients and unions. Sample projects:

• Led a team effort to redesign all new hire orientation materials for a Fortune 50 firm. Tool kit developed included print, video and web communications, and relied on managers and peers as key channels. Focus was on carrying employment branding through the employee lifecycle.

• Developed and marketed new tools and methodologies used internationally throughout the firm, including an employment brand continuity tool.

• Developed communications materials to guide member decisionmaking for union pension changes.

Partial Client list:

FedEx Express IBM Honeywell

Prudential Teleglobe Teamsters

Trigon Blue Cross / Blue Shield MedStar Health Dominion Resources

Cooper-Johri Management Consulting Corporation Alexandria, VA and Montreal QC

Vice President March 1996 - May 2000

In charge of a portfolio of clients, including budgets / billings, mandate scope, supervision of consulting teams and task forces, client retention and overall engagement success. Company lead on all communications consulting projects. Sample projects:

• Led internal and external communications for the transformation of a public hospital into a 200,000 square foot semi-private health complex, the first of its kind in Canada. Audiences included patients, employees, doctors, community members, elected officials and media.

• Developed business and strategy planning tool kit and guided divestiture of underperforming business units for a major industry association.

Marc A. Cooper

marc.cooper@att.net

408 South Payne Street, Alexandria VA 22314

tel: 703 819-8039/703 836-6009

PHILANTHROPY AND VOLUNTEERISM

Chairman of the Board, Board member for Robert Pierre Johnson Housing Development Corporation, Spring 2007 - present.

Advisor to a working group producing a home-care guide for cancer patients; developed communications and media strategy and helped secure over $200,000 in funding (1999-2001).

EDUCATION

M.A.: English, McGill University, Canada (1994)

B.A.: English and French, Colgate University, USA (1992), Phi Beta Kappa

Sample Professional Courses

High Impact Facilitation Million Dollar Consulting

ClientFirst (client satisfaction tracking) Behavioral Interviewing

Compliance (Fair Lending, AML / Bank Prosci and AIM Change Management

Bribery Act, etc.)

AWARDS, PUBLICATIONS AND CERTIFICATIONS

Using communication to design and drive transformative corporate change: Capital One becomes a bank (IABC Employee Communication Conference; The new business imperative: Using communication to engage and inspire today's complex workforce Chicago, November 2008)

Corporate Identity through Acquisition and Brand Conversion (Marcus Evans Crisis Communication and Reputation Protection conference, New York, July 2008)

Partnering for lasting results: A case study on transformative change (with Chris Palumbo from Capital One's Project Management team, IABC Heritage conference, Cincinatti, October 2007)

Public Relations Society of America Thoth award winner for excellence in Internal Communications (Capital One Enters the Banking Business, spring 2007)

Focus Groups for Audience Research: Using Measurement to Enhance Employee Communication (IABC International Bulletin, January 2004)

Prosci certified change management practitioner

Winner of five Capital One Circle of Excellence (CEO) awards for outstanding performance and teamwork.

OTHER

Near-native-Ievel French speaker Canadian and UK Citizen, US Green Card Holder

WILLIAM GRAY MITCHELL

613 Allison Street Alexandria, VA 22302

(703) 966-1167 (cell)

(703) 519-9031 (home) gray@juneaupartners.com

PROFESSIONAL EXPERIENCE

Of Counsel

Juneau Partners, PLLC Alexandria, VA

03/09-Present

• Patent and trademark prosecution.

• General corporate assistance for start-up clients and clients holding intellectual property rights for licensing.

• Lender, borrower and investor representation in commercial real estate and finance transactions.

Associate, Commercial Real Estate and Finance Ballard, Spahr, Andrews & Ingersoll, LLP Washington, DC

10/05 - 03/09

• Negotiated and closed approximately 30 originations of acquisition, refinancing and supplemental loans for multifamily housing properties on behalf of Fannie Mae Delegated Underwriting and Servicing Lenders. Transaction values from $2,000,000 to $20,000,000.

• Negotiated and closed approximately 25 assignments of securitized loans between commercial real estate lenders.

• Negotiated and closed purchase and sale of two commercial office buildings.

Transaction values of$14,000,000 and $45,000,000.

• Negotiated and closed approximately 25 standard and "New York style"

securitized loan defeasances. Transaction values from $3,000,000 to

$25,000,000.

• Represented borrowers on both Fannie Mae and standard commercial and multifamily real estate loans.

• Draft all loan or transfer documentation and negotiate with borrowers and colenders.

• Conduct legal due diligence review and coordinate business due diligence review among clients and third party consultants.

Associate, Commercial Real Estate and Finance Potts-Dupre, Difede & Hawkins, Chtd. Washington, DC

10/01-10/05

• Represented large U.S. labor union and union pension and benefit funds in multiple matters related to commercial real estate.

• Structured, negotiated and closed approximately 18 acquisition loan, construction loan, permanent loan, mezzanine loan and equity investments. Transactions ranged in value from $500,000 to $105,000,000.

• Drafted all investment and related documentation and negotiated with equity partners, borrowers and co-lenders.

• Conducted legal due diligence review and coordinated business due diligence review among clients and third party consultants.

• Drafted and negotiated commercial leases for tenants of union-owned buildings.

Associate, Business Transactions Kilpatrick, Stockton LLP Raleigh, NC

11/99 - 10/01

• Structured, negotiated and closed 13 merger and acquisition transactions ranging in value from $300,000 to $110,000,000. Served as primary associate on seven transactions and sole attorney on six transactions.

• Represented both companies and investors in structuring, negotiating and closing five angel and eight venture capital transactions.

• General corporate practice, including organizing and maintaining business entities in North Carolina and Delaware. Duties included organizational documentation and compliance, contract review, advice and counsel.

• Negotiated approximately 20 software licenses for both licensees and licensors.

• Represented startup local bank through organization with NC Banking Commission and FDIC.

• Represented minor league baseball team. Marketed team to investors, negotiated financing with investors and major league affiliate. Negotiated affiliation, franchise, loan, sponsorship and revenue sharing agreements.

Associate, Mergers & Acquisitions Parker, Poe, Adams & Bernstein, LLP Charlotte, North Carolina

9/96 -11/99

• Acted as lead associate to deal partner in structuring, negotiating and closing approximately 17 merger and acquisition transactions, ranging in value from $100,000 to $250,000,000.

• General corporate practice, including organizing and maintaining business entities in North Carolina and Delaware. Duties included organizational documentation and compliance, contract review, advice and counsel.

• Assisted in structuring and closing approximately 12 public finance transactions as bond counsel for North Carolina universities and municipalities in 1996-1997.

• Assisted in negotiating approximately three large commercial contracts and approximately 20 software licenses for electric utility.

• Compiled and coordinated numerous Hart-Scott-Rodino antitrust filings.

Summer Clerks/tips (Legal)

Parker, Poe, Adams & Bernstein (Charlotte, NC) 1995

Alman, Spry & Crumpler (Winston-Salem, NC) 1995

Tharrington, Smith & Hargrove (Raleigh, NC) 1994

Assistant Congressional Liaison 8/91 - 3/93

US Department of Commerce, Bureau of Export Administration Washington, DC

• Tracked, reported and lobbied federal legislators on export-related legislation.

• Coordinated with Departments of State, Defense and Energy to facilitate issuance of export licenses.

• Drafted Bureau's 1992 Annual Report.

EDUCATION

The University of North Carolina at Chapel Hill Juris Doctor, 1996

Bachelor of Arts, History, 1991

PROFESSIONAL AND COMMUNITY ACTIVITIES

• Member of North Carolina, Washington DC and American Bar Associations.

• Member, Trinity United Methodist Church. Alexandria, Virginia. Member of Building and Construction Committee.

• Director and Treasurer, Robert Pierre Johnson Housing Development Corporation (affordable housing charitable corporation). Arlington, Virginia.

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Arbela Associates, LLC Ownership Structure

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Robert Pierre Johnson Housing Development Corporation Board of Directors List

The following list details the Directors of the Board for Robert Pierre Johnson Housing Development Corporation, the non-profit organization that is the sole member of Arbelo Associates, LLC. Arbelo Associates, LLC is the General Partner of Arbelo Limited Partnership.

None of Robert Pierre Johnson Housing Development Corporation's Directors have an ownership interest in Arbelo Limited Partnership or Arbelo Associates, LLC.

Robert Pierre Johnson Housing Development Corporation List of Board Members

executive committee:

Marc Cooper, chair 1680 Capital One Drive McLean, VA 22102-3491

W 703.720.3006

C 703.819.8039

marc.cooper@,capitalone.com

Occupation: Senior Communications Director, Capital One

D. Edward Greene, vice chair

47173 Sky Lane

Sterling, VA 20165

H 703.433.5772

W 301.634.0908

F 301.656.6299 DEGreene@greystoneusa.com Occupation: Mortgage Banker, Greystone

Term 2007-2010

Joined board 2007

2007-2010 2001

Gray Mitchell, treasurer 613 Allison Street

Alexandria, V A 22302

C 703.966.1167

H 703.519.9031

mitchellw@ballardspahr.com

Occupation: Attorney; Ballard, Spahr, Andrews & Ingersoll

2009-2012 2006

2007-2010 2007

Herb Cooper-Levy, secretary 1527 Oronoco Street

Alexandria, VA 22314

W 703.528.5606.13

herbcl@rpjhousing.org

Occupation: executive director/CEO, RPJ Housing

Robert Wiles, member at large 112 South Royal Street, Suite F Alexandria, VA 22314

W 703.683.1221

F 703.683.1336 wilesco@verizon.net

Occupation: Commercial real estate broker

2007-2010

1998

4/6/2009

Robert Pierre Johnson Housing Development Corporation

balance of board:

Term Joined board

Joseph E. Amato, member 5208 Brookeway Drive Bethesda, MD 20816

W 703.903.2400

H 301.229.0356

C 202.841.1870

joseph amato(cV,freddiemac.com

Occupation: Vice President, Finance; Freddie Mac

2007-2010 2004

D. Wyatt Bethel, member 9302 Lee Highway Suite1100 Fairfax, VA 22031

W 703.218.2148

F 703.218.2160

wyatt. bethel@ofplaw.com

Occupation: Attorney; Odin, Feldman & Pittleman

2008-2011

2002

Eric Bonetti, member 4094 Majestic Lane #162 Fairfax, VA 22033

202.744.1417

bonettie@proxygovernance.com

Occupation: Public Relations, PROXY Governance

2008-2011

2008

Michelle L'Heureux, member 1215 Gibbon St

Alexandria VA 22314

HlC 703.609.8167

michelle Iheureux@yahoo.com Occupation: Meteorologist, NOAA

2008-2011 2008

Fred Jones, member 5000 N. 25th Rd

Arlington, VA 22207

H 703-536-3280

C 703-655-3348

fredjr64(a)aol.com

Occupation: Retired (former staff of Federal Highway Administration)

2009-2012 2009

4/6/2009

Martha Paschal, member 3204 Valley Lane

Falls Church, VA 22044

H 703.533.0778

C 703.623.0574

W 703.341.5068

RodMart{a{aol.com

MPaschal{a{voa.org

Occupation: Asset Manager, Volunteers of America

2007-2010 2007

Christopher Russell, member 9219 Allwood Drive Alexandria, VA 22309

H 703.341.6865

W 703.681.8461 chrisrussellhome(a),verizon.net

Occupation: Defense and energy consultant

2009-2012

2009

4/6/2009

TABE

(Nonprofit Questionnaire)