2009 Federal Low Income Housing Tax Credit Program Application For Reservation Deadline for Submission Te an Applications Must Be Received At VHDA No Later Than 5:00 PM Richmond, VA Time On May 15, 2009 ‘Tax Exempt Bonds Applications should be received at VHDA at least one month before the bonds are priced (if bonds issued by VDA), or 75 days before the bonds are issued (if bonds are not issued by VHDA) Virginia Housing Development Authority 601 South Belvidere Street Richmond, Virginia 23220-6500 2009 wi 2000Low Income Housing Tax Credit Application for Reservation [Please indicate che following items are neladed with your application by checking the appropriate ores, Vour awistance lorgantzing the submission in the following order, and actually using tabs to mark them as shown, wil facilitate review of your lapplication. Please note that all mandatory tems must be ineluded for the application to be processed. The inclusion of other items Insay increase the number of points for which you are eligible under VHDA's point system of ranking applications, and may assist |VHDA in its determination ofthe appropriate amount of credits that it may reserve for the development. You are therefore lencouraged to submit as much requested information asf avalable, but their inclusion isnot mandatory for review of your. lanptication, [Electronic Copy of the Microsoft Excel Based Application (MANDATORY) (Hard Copy of All Application Pages With Signature (MANDATORY) 7 Scanned Copy ofthe Tax Credit Application with all Atachments (excluding market study and plans & spees) (MANDATORY [$750 Application Fee (MANDATORY) Tab A: Documentation of Development Location Ad Qualified Census Tract Certification @ A2 Revitalization Area Certification a Location Map a Surveyor's Certification of Proximity To Public Transportation 2] Tab B: Partnership or Operating Agreement, including chart af ownership steueture [21Tab C: Virginia State Corporation Commission Cetifeation (MANDATORY) 2] Tab D: Principal's Previous Participation Certification and Resumé (MANDATORY) [Tab E: Nonprofit Questionnaire (MANDATORY for points o pool) ‘The following documents need not be submitted unless requested by VHDA: “Nonprofit Articles of Incorporation AIRS Documentation of Nonprofit Status -Ioint 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 Cenification Letter Zoning Certification Letter Copies of 8609s To Certify Developer Experience (Reserved) Pans and Specifications and Work Write-Up (MANDATORY), Documentation of Rental Assistance Documentation of Operating Budget Documentation of Project Budget Documentation of Financing Sources (Reserved) [Tab V: Nonprofit or LHA Purchase Option or Right of [2] Tab W: Original Atomeys Opinion (MANDATORY) DitabX: (Reserved) [Tab ¥: Marketing Pian for units meeting accessibility requirements of HUD section 504 [Tab Z Market Study (MANDATORY-Application will be disqualified if market study not submitted with the application h percentage of interests (MANDATOR 1 Refusal 2009 Submision ChecklistLow-Income Housing Tax Credit Application For Reservation YHDA TRACKING NUMBER [” 2009.2-114 ‘General Taformation Allcoe-Sece” tlre matte IR lb oi mn, 501309 heal Revere Cao 186, mae TDaizor Applicaton) A. Development Name and Location 1. Name oF Development Southside Garden Apartments 2. Address of Development 707 Th Sweet wee Ponemouth Virgin 23704 ‘wr isi) Tn Caasy 3. eomplete aes i nt available, provide longitude and latitude coordinates (x,y) trom Tocation on sit your surveyor deems appropriate TDocumentation from surveyor attached (TAB A) (Only sess WF street addres See TeectTons are nov avaiable. {Coordinates shouldbe the same as those listed on p13, i applicable) 4. ‘The Circuit Court Clerk’ office in which the deed tothe property is or will he recorded: CityCounty of Portsmouth City (Ge; Richmond City, Chesterfield County see application mana) 5. Does the site overt one or more jurisdicional boundaries? Dyes yes, what other City/County isthe site located in besides the one mentioned above? 6. Is the development located in a Metropolitan Statistical Area? es No 7. Census Trac the development s located in 2121 Js this a Qualified Census Tract: EL Yes (No (ityes attach required form in TAB A) 8. Isthe development located in Difficult Development Area? 9, Is the development locate in a revitalization area? TH Yes (No (lfyes,atach required form in TAB A) 10. _Isthe development an existing RD of HUD $8236 development? Yes CL_ No (Ifyes attach required form in TAB Q) ‘Nat: there amenity of interest between the appieant ad he seller in hit propos, nd the applicant secking pins in this category, then the applicant mst citer waive their rghs tothe develope’ fe or other Fes associated with aquisition andor ‘habitation, or obtain a waive ofthis requirement from VEDA pro aplizatin submission to eceive these points 2. Applicant agrees to waive al rights to any developer's fe or other fees assoeated with acquisition and/or rebab, Ove Gm be. Applicant as obtained waiver of this requiement from VHDA Dror tothe application submission deadline, Oye me 11, Is the development located ina census tact witha poverty rate <10% with no tax ret unis currently presen? ves No 12, _Isthe development lista on the RD $15 Rekabilttion Priority Lise? Ove 13. Congressional District, 3 apie stavautenzeZ001POiaRTa Planning District 723 haivnodcriostees esPnczoM9p State Senate Distt TR bis sates 0 aaah State House District BO steam asatinea2on sera Tob Gs 14. Gl Location Map Attached (TAB A) Project Description: Inthe space provided below, give a bref description ofthe proposed project [Southside Gardens Apartments i an existing VHIDA financed muli-lamily housing apartment development Consisting OF 10 wo-wory learden and townhouse style apartment buildings. It is sick construction with vinyl siding and an asphalt shingled roof. The project mix is [68 two-bedroom units, $0 three-bedroom units and 16 four-bedroom units, Southside Gardens Apastments LP plans to expend approximately [5.577.000 in hard costs to reabiltate the apartment and townhouse units if tis awarded tex eres, 2008 Page |2009 Low Income Housing Tax Credit Application For Reservat C._ Reservation Request 1. Total anual credit amount request (Must be the same as Part IX-D8) $1,055,656 2. Credits requested from: 9% Credits C1 Nonprofit Set-Aside (All nonprofit owned developments which meet tests described in Part I-D hereof may select this) Local Housing Authorities Tidewater MSA Pool O Noxthern Virginia MSA Pool Small MSA/Micropolitan Poo! Richmond MSA Poo! Rural Poot O_ Non-Competitive Pool (Preservation) D_Non-Competiive Pool (Disability) o ‘Tax Exempt Bonds 1D new construction, or O rehabilitation, or © acquisition and rehabilitation. Federal Subsidies 1D The development will not receive federal subsidies. _Thisdevelopment will receive federal subsidies for: Chall buildings or some buildings. D. Type(s) of Allocation/ANlocation Year 1. Regular Allocation DAM of the buildings inthe development are expected to be placed inservice this year. For those buildings the owner will this year, request an allocation of 2008 eredits for —-C} new construction, or Di rehabilitation, acquisition and rehabilitation. 2. Carryforward Allocation I ofthe buildings inthe development are expected to be placed inservice within two years after the end ofthis 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 2 carryforward allocation of 2009 credits pursuant to Section 42(h)(1 (E) for: Bnew construction, or rehabilitation, sequisition and rehabilitation (even if you acquired a building this year and "placed it inservice” forthe 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 The development will not receive federal subsidies. 1 This developmen wil receive federal subsidies for: Dall buildings or some buildings Page 2