Hamilton Place

INSTRUCTIONS FOR THE
VIRGINIA 2011 LIHTC APPLICATION FOR RESERVATION
This application was prepared using Excel, Microsoft Office 2003. Please note that using the active Excel
workbook does not eliminate the need to submit the required PDF of the signed hardcopy of the application and
related documentation. A more detailed explanation of application submission requirements is provided
below and in the Application Manual.
An electronic copy of your completed application is a mandatory submission item.
Applications For 9% Competitive Credits

Applicants should submit an electronic copy of the application package on a CD prior to the
application deadline, which is 2:00 PM Richmond Virginia time on March 11, 2011. Failure to submit an electronic
copy of the application by the deadline will cause the application to be disqualified.
Please Note:
Applicants should submit all application materials in electronic format only.
There should be distinct files saved to 1 or more CDs (as needed) which should include the following:
1. Application For Reservation – the active Microsoft Excel workbook
2. A PDF file which includes the following:
- Application For Reservation – Signed version of hardcopy
- All application attachments (i.e. tab documents, excluding market study and plans & specs)
3. Market Study – PDF or Microsoft Word format
4. Plans - PDF or other readable electronic format
5. Specifications - PDF or other readable electronic format (may be combined into the same file as the
plans if necessary)
6. Unit-By-Unit work write up (rehab only) - PDF or other readable electronic format
Notes:
-Do not submit any files on a flash or thumb drive.
-Do not submit any application materials via TaxCreditApps@VHDA.com or to any email address
unless specifically requested by the VHDA Allocation Department staff.
Disclaimer:
VHDA assumes no responsibility for any problems incurred in using this spreadsheet or for the
accuracy of the calculations. Check your application for correctness and completeness before
submitting the application to VHDA.
Entering Data:
Enter numbers or text as appropriate in the blank spaces highlighted in yellow. All other cells are
protected and will not allow any changes. The format for cells has been set to accept text, currency,
percentages, etc. as appropriate. Enter any number without commas or dollar signs. Enter
percentages beginning with a decimal point. There is no text wrap-around feature, so care must be
taken to enter text so that it does not extend beyond the right margin of the page. Enter in only enough
text to fill one line and then drop to the first yellow cell of the next line. Each page of the application is a
separate sheet in the spreadsheet. The spreadsheet contains numerous error checks which are
designed to assist you in identifying potential mistakes in your application. Please note that these may
appear as you enter data because many are dependent on entries later in the application. Do not be
concerned with these messages until all data has been entered. Also note that some cells contain
error messages such as "#DIV/0!" before you begin. These warnings will disappear as you enter
numbers necessary to complete the application.
Assistance:
If you have any questions, please call Jim Chandler at (804) 343-5786, Dale Wittie at (804)
343-5876, Cara Wallo at (804) 343-5714, Jaynell Pittman-Shaw at (804) 343-5733 or Rebecca Rowe
at (804) 343-5518. Please note that we cannot release the copy protection password.
Staff email addresses:

jim.chandler@vhda.com - dale.wittie@vhda.com
cara.wallo@vhda.com
v1.1.2011 - jaynell.pittman-shaw@vhda.com
Instructions- rebecca.rowe@vhda.com
2011 Feder al L ow I ncome Housing
Tax Cr edit Pr ogr am
Application For Reser vation
Deadline for Submission
9% Competitive Credits
Applications Must Be Received At VHDA No Later Than
2:00 PM Richmond, VA Time On March 11, 2011
Tax Exempt Bonds

Applications should be received at VHDA at least one month
before the bonds are priced (if bonds issued by VHDA), 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
v1.1.2011
L ow I ncome Housing Tax Cr edit Application for Reser vation
Please indicate if the following items are included with your application by checking the appropriate boxes. Your assistance in
organizing the submission in the following order, and actually using tabs to mark them as shown, will facilitate review of your
application. Please note that all mandatory items must be included for the application to be processed. The inclusion of other items
may 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 of the appropriate amount of credits that it may reserve for the development.
Electronic Copy of the Microsoft Excel Based Application (M ANDATORY)

Scanned Copy of the Signed Tax Credit Application with Attachments (excluding market study and plans & specs) (M ANDATO
Electronic Copy of the Market Study (M ANDATORY-Application will be disqualified if study not submitted with application)
Electronic Copy of the Plans (M ANDATORY)
Electronic Copy of the Specifications (M ANDATORY)
Electronic Copy of the Unit By Unit Work Writeup (M ANDATORY if r ehab)
$750 Application Fee (M ANDATORY )
Tab A: Documentation of Development Location:
A.1 Qualified Census Tract Certification
A.2 Revitalization Area Certification
Location Map
Surveyor's Certification of Proxi mity To Public Transportation
Tab B: Partnership or Operating Agreement, including chart of ownership structure with percentage of interests (M ANDATORY
Tab C: Virginia State Corporation Commission Certification (M ANDATORY)
Tab D: Principal's Previous Participation Certification and Resumé (M ANDATORY)
Tab E: Nonprofit Questionnaire (M ANDATORY 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)
Tab F: Architect's Certification (M ANDATORY)
Tab G: Relocation Plan (M ANDATORY, if rehab)
Tab H: PHA / Section 8 Notification Letter
Tab I: Local CEO Letter
Tab J: Homeownership Plan
Tab K: Site Control Documentation & Most Recent Real Estate Tax Assessment (M ANDATORY)
Tab L: Plan of Development Certification Letter
Tab M: Zoning Certification Letter
Tab N: Copies of 8609s To Certify Developer Experience
Tab O: (Reserved)
Tab P: Plans and Specifications and Work Write-Up (M ANDATORY )
Tab Q: Documentation of Rental Assistance
Tab R: Documentation of Operating Budget
Tab S: Documentation of Project Budget
Tab T: Documentation of Financing Sources
Tab U:
Documentation To Request Exception To Restriction-Pools With Little/No Increase In Rent Burdened Population
Documentation of site location in an urban development area as defined in §15.2-2223.1of the Code of Virginia
Documentation of the development participating in a locally adopted affordable housing dwelling unit program area as
described in either §15.2-2304 or §15.2-2305 of the Code of Virginia
Tab V: Nonprofit or LHA Purchase Option or Right of First Refusal
Tab W: Attorney's Opinion (M ANDATORY)
Tab X: (Reserved)
Tab Y: Marketing Plan for units meeting accessibility requirements of HUD section 504
v1.1.2011 Submission Checklist

L ow-I ncome Housing Tax Cr edit Application For Reser vation
VHDA TRACK I NG NUM BER 2011-C-51

I. Gener al I nfor mation
All code "Section" references are to, and the term "IRC" shall be deemed to mean,
the Internal Revenue Code of 1986, as amended. (Date of Application)
A. Development Name and L ocation:

1. Name of Development Hamliton Place Phase II
2. Address of Development 3401 Turnpike Road
(Street)
Portsmouth VA 23707
(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.
Documentation from surveyor attached (TAB A) (Only necessary if street address or street intersections are not available)
4. The Circuit Court Clerk's office in which the deed to the property is or will be recorded:
City/County of Portsmouth City (ie; Richmond City, Chesterfield County; see application manual)
5. Does the site overlap one or more jurisdictional boundaries? Yes No
If yes, what other City/County is the site located in besides the one mentioned above?
6. Census Tract the development is located in: 2115
Is this a Qualified Census Tract: Yes No (If yes, attach required form in TAB A)
7. Is the development located in a Difficult Development Area? No If no, applicant may request that the property be treated
as if it is located in a DDA. If so, indicate by checking this box: (Note: This provision is NOT applicable to tax exempt bond deals.)
8. Is the development located in a revitalization area? Yes No (If yes, attach required form in TAB A)
9. Is the development an existing RD or HUD S8/236 development? Yes No (If yes, attach required form in TAB Q)
Note to #9: If there 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. Yes n/a
b. Applicant has obtained a waiver of this requirement from VHDA
prior to the application submission deadline. Yes n/a
10. Is the development located in a census tract with a poverty
rate <10% with no tax credit units currently present? Yes No
11. Is the development listed on the RD 515 Rehabilitation Priority List? Yes No
12. Is the proposed development located in an urban development area as defined in §15.2-2223.1of the Code of Virginia?
Yes No (If yes, attach required form in TAB U)
13. Will the proposed development participate in a locally adopted affordable housing dwelling unit program area as described in
either §15.2-2304 or §15.2-2305 of the Code of Virginia? Yes No (If yes, attach required form in TAB U)
14. Congressional District 3 http://dlsgis.state.va.us/congress/2001PDFs/chap7Tab.pdf

Planning District 23 http://www.vapdc.org/aboutpdcs.htm#PDC%20Map
State Senate District 18 http://dlsgis.state.va.us/senate/2001PDFs/Chap2Tab.pdf
State House District 79 http://dlsgis.state.va.us/House/2001HousePDFs/Chap1Tab.pdf
15. Location Map Attached (TAB A)
B. Pr oj ect Descr iption:

In the space provided below, give a brief description of the proposed project.
Hamilton Place Plase II will consist of 84 newly constructed rental units that will serve families earning less than 60% AMI. In addition the project will have a
clubhouse building that includes a community room and leasing office. 38 of the 84 units will be subsidized with a new Project-Based Section 8 contract committed t
by the local housing authority. This is the second and final phase of the Hamilton Place development.
v1.1.2011 Page 1
L ow I ncome Housing Tax Cr edit Application For Reser vation
C. Reser vation Request
1. Total annual credit amount request (Must be the same as Part IX-D8) $901,179
2. Credits requested from:

9% Cr edits
Nonprofit Set-Aside (All nonprofit owned developments which meet tests
described in Part II-D hereof may select this)
Local Housing Authorities Richmond MSA Pool
Planning District 8 (Inner Washington MSA) Pool Tidewater MSA Pool
Northwest / North Central VA Area Pool Balance of State Pool (Remaining Geographi
Non-Competitive Pool (Preservation) Non-Competitive Pool (Disability)
Tax Exempt Bonds

new construction, or
rehabilitation, or
acquisition and rehabilitation.
Federal Subsidies
The development will not receive federal subsidies.
This development will receive federal subsidies for:

all buildings or
some buildings.
D. Type(s) of Allocation/Allocation Year
1. Regular Allocation
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 2011 credits for new construction, or
rehabilitation, or
acquisition and rehabilitation.
2. Carryforward Allocation
All of the buildings in the development are expected to be placed
in service within two years after the end of this calendar year, 2011, but the
owner will have more than 10% basis in the development before the end of twelve
months following allocation of credits. For those buildings, the owner requests
a carryforward allocation of 2011 credits pursuant to Section 42(h)(1)(E) for:
new construction, or
rehabilitation, or
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 2012 or 2013).
3. Federal Subsidies
The development will not receive federal subsidies.
This development will receive federal subsidies for:
all buildings or
some buildings.
v1.1.2011 Page 2
E. Acquisition Cr edit I nfor mation

NOTE: If no credits are being requested for exi sting buildings being acquired for the development,
so indicate and go on to Part F: No Acquisition
Ten-Year Rule For Acquisition Cr edits

All buildings satisfy the 10-year look-back rule of IRC Section 42 (d)(2)(B), including the
10% basis/$15,000.00 rehab costs ($10,000 for Tax Exempt Bonds) per unit requirement.
All buildings qualify for an exception to the 10-year rule under IRC Section 42(d)(2)(D)(i),
Subsection (I)
Subsection (II)
Subsection (III)
Subsection (IV)
Subsection (V)
The 10-year rule in IRC Section 42 (d)(2)(B) for all buildings does not apply pursuant to IRC Section 42(d)(6).
Different circumstances for different buildings: Attach a separate sheet and explain for each building.
F. Rehabilitation Cr edit I nfor mation
NOTE: If no credits are being requested for rehabilitation expenditures, so indicate and go
on to Section II. No Rehabilitation
M inimum Expenditur e Requir ements

All buildings in the development satisfy the rehab costs per unit requirement of IRC
Section 42(e)(3)(A)(ii).
All buildings in the development qualify for the IRC Section 42(e)(3)(B) exception to the
10% basis requirement (4% credit only).
All buildings in the development qualify for the IRC Section 42(f)(5)(B)(ii)(II) exception.
Different circumstances for different buildings. Attach a separate sheet and
explain for each building.
G. Request For Exception

The proposed new construction development (including adaptive reuse and rehabilitation that creates additional rental
space) is subject to an assessment of up to minus 20 points for being located in a pool identified by the Authority as a po
with little or no increase in rent burdened population. N/A - Does not apply to this proposed development.
Applicant seeks an exception to this restriction in accordance with one of the following provisions under 13VAC10-180-
Proposed development is specialized housing designed to meet special needs that cannot readily be addressed
utilizing existing residential structures. Documentation Attached (TAB U)
Proposed development is designed to serve as a replacement for housing being demolished through
redevelopment. Documentation Attached (TAB U)
Proposed development is housing that is an integral part of a neighborhood revitalization project sponsored by
a local housing authority. Documentation Attached (TAB U)
v1.1.2011 Page 3
I I . OWNERSHI P I NFORM ATI ON

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
Certification.
Must be an individual or legally formed entity
A. Owner I nfor mation:

Name Hamilton II, L.P.
Contact Person First: Kathy Middle: Last: Warren
Address 801 Water Street, 2nd Floor
(Street)
Portsmouth VA 23705
(City) (State) (Zip Code)
Federal I. D. No. 27-1255050 (If not available, obtain prior to Allocation)

Phone 757-399-5261 Fax 757-399-8697 Email addr ess kwarren@prha.org
Type of entity: Limited Partnership Other
Individual(s) Corporation
Owner's organizational documents (e.g. Partnership agreements & ownership structure chart) attached (M andator y TAB B)
Certification from Virginia State Corporation Commission attached (M andator y TAB C)
Principal(s) involved (e.g. general partners, LLC members, controlling shareholders, etc.):
Names ** Phone Type Ownership % Ownership
Portsmouth Redevelopment & Housing Auth 757-399-5261 Sole Member, GP entity 100.00%
The Executive Director of PRHA is Harry L. Short 0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
This should be 100% of the GP or managing member interest: 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.
Principals' Previous Participation Certification attached (M andator y TAB D) & resumé.
B. Seller I nfor mation:

Name Portsmouth Redevelopment & Housing AuthorityContact Person Kathy Warren
Address 801 Water Street, 2nd Floor
Portsmouth, VA 23705 Phone 757-399-5261
I s ther e an identity of inter est between the seller and owner /applicant? Yes No
If yes, complete the following:
Principal(s) involved (e.g. general partners, controlling shareholders, etc.)
Names Phone Type Ownership % Ownership
Portsmouth Redevelopment & Housing Auth 757-399-5261 Sole Member, GP entity 100.00%
The Executive Director of PRHA is Harry L. Short 0.00%
0.00%
0.00%
v1.1.2011 Page 4
C. Development Team I nfor mation:

Complete the following as applicable to your development team.
1. Tax Attorney: Jeffry S. Miller Related Entity? Yes No

Firm Name: Cooper Spong and Davis
Address: 200 High Street, Suite 500 Portsmouth, VA 23974
Phone: 757-397-3481 Fax: 757-397-3481
2. Tax Accountant: Don Jump Related Entity? Yes No

Firm Name: Jump, Scutellaro & Co CPA
Address: 12 Lexington Ave. Toms River, NJ 08754
Phone: 732-240-7377 Fax: 732-505-8307
3. Consultant: Kirk Gray Related Entity? Yes No

Firm Name: Cornerstone Housing, L.L.C. Role: Developer/Consultant
Address: 5950 Symphony Woods Suite 301 Columbia, MD
Phone: 410-884-3410 Fax:
4. Management Entity (Contact): Donna Mills Related Entity? Yes No

Firm Name: Norfolk Redevelopment and Housing Authority
Address: 201 Granby Street, Norfolk, VA 23510
Phone: (757)314-2064 Fax:
5. Contractor (Contact): Scott Troutman Related Entity? Yes No

Firm Name: Maryln Development Corporation
Address: 308 35th Street, Suite 301, Virginia Beach, VA 23451
Phone: (757) 437-1677 Fax: (757)437-5330
6. Architect: Irwin Kroskin Related Entity? Yes No

Firm Name: Kroskin Design Group
Address: 6160 Kempsville Circle, Suite 316 A, Norfolk, Virginia 23502
Phone: (757) 466-1109 Fax:
7. Real Estate Attorney: Jeff Miller Related Entity? Yes No

Firm Name: Cooper Spong and Davis
Address: 200 High Street, Suite 500 Portsmouth, VA 23974
Phone: 757-397-3481 Fax: (757)397-3481
8. Mortgage Banker: Dan Mendelson Related Entity? Yes No

Firm Name: CCA Mortgage, LLC
Address: 33 S. Gay Street, Suite 200, Baltimore, Maryland, 21202
Phone: (410)685-6005 Fax: (410)685-6677
9. Other (Contact): Kathy Warren Related Entity? Yes No

Firm Name: Portsmouth Redevelopment and Housing Authority Role: Owner's Representative
Address: PO Box 1098 Portsmouth, VA 23705
Phone: 757-399-5261 Fax: (757)399-8697
v1.1.2011 Page 5
D. Nonpr ofit I nvolvement:
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 Cr edit Nonpr ofit 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:
1. 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 qualify 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:
and go on to part III
2. Mandatory Questionnaire
If there is nonprofit involvement, you must complete the Non-Profit Questionnaire
Questionnaire attached (M andator y TAB E)
3. Type of involvement
Nonprofit meets eligibility requirement for points only, not pool or
Nonprofit meets eligibility requirements for nonprofit pool and points.
4. Identity of Nonprofit (All nonprofit applicants)

The nonprofit organization involved in this development is:
the Owner
the Applicant (if different from Owner)
Other
Portsmouth Redevelopment & Housing Authority
(Name of nonprofit)
Kathy Warren PO Box 1098
(Contact Person) (Street Address)
Portmouth VA 23705
(City) (State) (Zip code)
757-399-5261 757-399-8697
(Phone) (Fax)
5. Percentage of Nonprofit Ownership (All nonprofit applicants)

Specify the nonprofit entity's percentage ownership of the general partnership interest: 100.0%
v1.1.2011 Page 6
I I I . DEVEL OPM ENT I NFORM ATI ON
A. Str uctur e and Units:

1. Total number of all units in development 84
Total number of r ental units in development 84 bedrooms 168
Number of low-income rental units 84 bedrooms 168
Percentage of rental units designated low-income 100.00%
2. The development's structural features are (check all that apply):
Row House/Townhouse Detached Single-family

Garden Apartments Detached Two-family
Slab on Grade Basement
Crawl space Age of Structure: New
Elevator Number of stories: 3
3. Number of new units 84 bedrooms 168
Number of adaptive reuse units 0 bedrooms 0
Number of rehab units 0 bedrooms 0
4. Total Floor Area For The Entire Development 105,244.00 (Sq. ft.)
5. Unheated Floor Area (Breezeways, Balconies, Storage) 15,388.00 (Sq. ft.)

6. Nonresidential Commercial Floor Area 0.00 (Sq. ft.)
(Not eligible for funding)
7. Total Usable Residential Heated Area 89,856.00 (Sq. ft.)
8. Number of Buildings (containing rental units) 7
9. Commercial Area Intended Use:
10. Project consists primarily of a building(s) which is (are) (CHOOSE ONL Y ONE)
Low-Rise (1-5 stories with any structural elements made of wood)

Mid-Rise (5-7 stories with no structural elements made of wood)
High-Rise (8 or more stories with no structural elements made of wood)
11. a. Total Net Rental Square Feet 86,964.00

b. Percentage of Net Rentable Square Feet Deemed To Be New Rental Space 100.00%
B. Building Systems:
Please describe each of the following in the space provided.
Community Facilities: Clubhouse with community room and leasing office.
Exterior Finish: Vinyl and brick

Heating/AC System: Split System Heat Pumps
Architectural Style: Modern Garden Apartments
v1.1.2011 Page 7
C. Amenities:
1. Specify the average size per unit type: (I ncluding pr o r ata shar e of heated common ar ea)
Assisted Lvg 0.00 SF 1Bdrm Eld 0.00 SF 3-Bdrm Gar 1,245.43 SF
1-Sty-Eff-Eld 0.00 SF 2Bdrm Eld 0.00 SF 4-Bdrm Gar 0.00 SF
1-Sty 1BR-Eld 0.00 SF Eff-Gar 0.00 SF 2+Sty 2BR TH 0.00 SF
1-Sty 2BR-Eld 0.00 SF 1-Bdrm Gar 805.43 SF 2+Sty 3BR TH 0.00 SF
Eff-Eld 0.00 SF 2-Bdrm Gar 1,087.43 SF 2+Sty 4BR TH 0.00 SF
2. Total gross usable, heated square feet for the entire project less nonresidential commercial area:
89,856.00 Documentation attached (TAB F) M andator y
(Sq. ft.)
NOTE: All developments must meet VHDA's M inimum Design and Constr uction Requir ements.
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:

Documentation attached (TAB F Architect Certification) M andator y
For any pr oj ect, upon completion of constr uction/r ehabilitation: (Optional Point items)
100% a(1) Percentage of 2-bedroom units that have 1.5 bathrooms
100% a(2) Percentage of 3 or more bedroom units that have 2 bathrooms
b. A community/meeting room with a minimum of 749 square feet is provided
34.00% c. Percentage of exterior walls covered by brick (excluding triangular gable ends, doors and windows)
d. All kitchen and laundry appliances meet the EPA's Energy Star qualified program requirements
e. All windows meet the EPA's Energy Star qualified program requirements
f. Every unit in the development is heated and cooled with either (i) heat pump equipment with both a
SEER rating of 15.0 or more and a HSPF rating of 8.5 or more , or (ii) air conditioning equipment
with a SEER rating of 15.0 or more, combined with gas furnaces with an AFUE rating of 90% or
more
g. Water expense is sub-metered (the tenant will pay monthly or bi-monthly bill)
h. Each bathroom consists only of low-flow faucets (2.2 gpm max.) and showerheads (2.5gpm max.)
i. Provide necessary infrastructure in all units for high speed cable, DSL or wireless internet sevice.
j. All water heaters meet the EPA's Energy Star qualified program requirements.
k. Every unit in the development will be heated and cooled with a geothermal heat pump that meets
EPA Energy Star qualified program requirements.
l. The development will have a solar electric system that will remain unshaded year round, be oriented
to within 15 degrees of true south, and be angled horizontally within 15 degrees of latitude.
Expected Total Electrical Load (kilowatt hours per month): 0

Percent of Expected Load Offset By Solar Electric System: 0.00%
v1.1.2011 Page 8
L ow I ncome Housing Tax Cr edit Application For Reser vation
For all pr oj ects exclusively ser ving elder ly and/or handicapped tenants, upon completion
of constr uction/r ehabilitation: (Optional Point items)
a. All cooking ranges will have front controls

b. All units will have an emergency call system
c. All bathrooms will have an independent or supplemental heat source
d. All entrance doors have two eye viewers, one at 48" and the other at standard height
For all r ehabilitation and adaptive r euse pr oj ects, upon completion of constr uction or
or r ehabilitation: (Optional Point items)
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 of the 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 of the following point categories, as appropriate:
For any non-elderly property, or any elderly rehabilitation property, in which the greater of 5 or 10% of the units will be subject
to federal project-based rent subsidies or equivalent assistance in order to ensure occupancy by extremely low-income persons;
and (ii) the greater of 5 units or 10% of the units will conform to HUD regulations interpreting accessibility requirements of
section 504 of the Rehabilitation Act; and be actively marketed to people with special needs in accordance with a plan submitted
as part of the Application. (All of the units described in (ii) above must include roll-in showers and roll under sinks and front
controls for ranges, unless agree to by the Authority prior to the applicant's submission of its application). (50 points)
For any non-elderly property, or any elderly rehabilitation property, in which the greater of 5 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. (30 points)
For any non-elderly property, or any elderly rehabilitation 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. (15 points)
Ear thcr aft or L EED Development Cer tification

Applicant agrees to obtain Earthcraft or LEED certification prior to issuance of IRS Form 8609. Architect
certifies in the Architect Certification that the development's design will meet the criteria for such certification.
(15 Points)
L EED Silver Cer tification
Ear thcr aft Cer tification - new construction development will be 15% more energy efficient than 2004 IECC.
Ear thcr aft Cer tification - rehabilitation development will be 30% more energy efficient post-rehabilitation
(30 Points)
L EED Gold Cer tification
(45 Points)
L EED Platinum Cer tification
If seeking any points associated with LEED or Earthcraft certification, attach appropriate documentation at TAB F
Univer sal Design - Units Meeting Universal Design Standards

a. The architect of record certifies that units will be constructed to meet VHDA's Universal Design standards.
Yes No If Yes, attach appropriate documentation at TAB F
b. Number of Rental Units constructed to meet VHDA's Universal Design standards:
9 Units 11%
VHDA Cer tified Pr oper ty M anagement Agent

Owner agrees to use a VHDA Certified Property Management Agent to manage the property.
Yes No
Yes No N/A The market-rate units' amenities are substantially equivalent to those of the
low-income units. If no, explain differences:
v1.1.2011 Page 9
I V. TENANT I NFORM ATI ON
A. Set-Aside Election: UNI TS SEL ECTED BEL OW I N BOTH COL UM NS DETERM I NE

POI NTS FOR THE BONUS POI NT 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 IRC. 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 Pr ovided Per Household Type:

I ncome L evels Rent L evels
# of Units % of Units # of Units % of Units
9 10.71% 40% Area Median 9 10.71% 40% Area Median
0 0.00% Non-LMI Units 0 0.00% Non-LMI Units
84 100.00% Total 84 100.00% Total
B. Special Housing Needs/L easing Pr efer ence:
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:
Yes Elderly (age 55 or above)
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: 12 Number of units 14% of total low-income units
3. If the development has exi sting 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. 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:
Yes
No
Locality has no such waiting list; If yes, provide the following information:
Organization which holds such waiting list: Portsmouth Redevelopment & Housing Authority
Contact person (Name and Title) Delores Adams, Director of Housing Management
Phone Number 757-399-5261 Requir ed 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 1 or less bedrooms).
Yes
No
v1.1.2011 Page 10
V. L OCAL NEEDS AND SUPPORT
Note: Please r efer to the Application M anual for specific instr uctions and deadlines for per taining to locality
notification of pr oposed L ow income Housing Tax Cr edit developments.
A. Pr ovide the name and the addr ess of the chief executive officer (City M anager , Town M anager , or
County Administr ator ) of the political j ur isdiction in which the development will be located:
Chief Executive Officer's Name Kenneth Chandler
Chief Executive Officer's Title City Manager
Street Address 801 Crawford Street Phone 757-393-8641
City Portsmouth State VA Zip 23704
Name and title of local official you have discussed this project with who could answer questions for the
local CEO: Paul D. Holt, III, Deputy City Manager
I f the pr oper ty over laps another j ur isdiction please fill in the following:
Chief Executive Officer's Name N/A
Chief Executive Officer's Title N/A
Street Address Phone
City State Zip
Name and title of local official you have discussed this project with who could answer questions for the
local CEO:
B. Pr oj ect Schedule
ACTUAL OR NAM E OF
ACTI VI TY ANTI CI PATED PERSON
DATE RESPONSI BL E
Site
Option/Contract 1/10/11 Jeff Miller
Site Acquisition 1/10/11 - ground lease Kathy Warren
Zoning Approval 1/1/10 Kathy Warren
Site Plan Approval 7/1/11 Kathy Warren
Financing
A. Constr uction L oan
Loan Application 3/2011 Dan Mendelson
Conditional Commitment 5/2011 Dan Mendelson
Firm Commitment 7/2011 Dan Mendelson
B. Per manent L oan - Fir st L ien
Loan Application 3/2011 Dan Mendelson
Conditional Commitment 5/2011 Dan Mendelson
Firm Commitment 7/2011 Dan Mendelson
C. Per manent L oan-Second L ien
Loan Application 1/1/11 Kathy Warren
Conditional Commitment 1/10/11 Kathy Warren
Firm Commitment 2/28/11 Kathy Warren
D. Other L oans & Gr ants
Type & Source, List
Application
Award/Commitment
For mation of Owner 9/15/09 Jeff Miller
I RS Appr oval of Nonpr ofit Status housing authority Jeff Miller
Closing and Tr ansfer of Pr oper ty to Owner ground lease - 1/2011 Kathy Warren
Plans and Specifications, Wor king Dr awings 9/1/11 Irwin Kroskin
Building Per mit I ssued by L ocal Gover nment 12/1/11 Scott Troutman
Star t Constr uction 1/1/12 Scott Troutman
Begin L ease-up 10/1/12 Kathy Warren
Complete Constr uction 1/1/13 Scott Troutman
Complete L ease-Up 2/1/13 Kathy Warren
Cr edit Placed in Ser vice Date 1/1/13 Kathy Warren
v1.1.2011 Page 11
VI . SI TE 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 Contr ol by Owner :
Applicant controls site by (select one and attach document - M andator y TAB K )
Deed - attached
Long-term Lease - attached (expiration date: January 10, 2105 )
Option - attached (expiration date: )
Purchase Contract - attached (expiration date: )
If more than one site for the development and more than one form of site control, please so indicate
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.
Most recent property tax assessment - M andator y TAB K
B. Timing of Acquisition by Owner :

Select one:
Owner already controls site by either deed or long-term lease or
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
If more than one site for the development and more than one expected date of acquisition by
Owner, please so indicate 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. M ar ket Study Data:
Obtain the following information from the M ar ket Study conducted in connection with this tax credit application and enter below:
Project Wide Capture Rate - LIHTC Units 6.40%

Project Wide Capture Rate - Market Units n/a
Project Wide Capture Rate - All Units 6.40%
Project Wide Absorption Period (Months) 4
v1.1.2011 Page 12
C. Site Descr iption
1. Exact area of site in acres 5.450
2. Has locality approved a final site plan or plan of development?

Yes No
Requir ed documentation for m attached (TAB L )
3. Is site properly zoned for the proposed development?

Yes No
Requir ed documentation for m attached (TAB M )
4. Will the proposal seek to qualify for points associated with proximity to public transportation?
Yes No
Requir ed documentation for m attached (TAB A)
D. Plans and Specifications
M inimum submission r equir ements for all pr oper ties (new constr uction, r ehabilitation and adaptive r euse)
1. 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.
4. Requir ed documentation for r ehabilitation pr oper ties: A unit-by-unit wor k wr ite-up.
v1.1.2011 Page 13
VI I . OPERATI NG BUDGET
A. Rental Assistance
1. Do or will any low-income units receive rental assistance?
Yes No
2. If yes, indicate type of rental assistance:
Section 8 New Construction Substantial Rehabilitation
Section 8 Moderate Rehabilitation
Section 8 Certificates
Section 8 Project Based Assistance
RD 515 Rental Assistance
Section 8 Vouchers
State Assistance
Other: New Project Based Section 8 Contract
3. Number of units receiving assistance: 38

Number of years in rental assistance contract: 15
Expiration date of contract: 01/01/28
Contract or other agreement attached (TAB Q)
B. Utilities
1. Monthly Utility Allowance Calculations
Utilities Type of Utility Utilities Enter Allowances by Bedroom Size

(Gas, Electric, Oil, etc.) Paid by: 0-bdr 1-bdr 2-bdr 3-bdr 4-br
Heating Electric Owner x Tenant 0 7 9 9 0
Air Conditioning Owner x Tenant 0 6 10 13 0
Cooking Owner x Tenant 0 7 9 11 0
Lighting Owner x Tenant 0 30 37 44 0
Hot Water Electric Owner x Tenant 0 12 17 21 0
Water Owner x Tenant 0 21 29 37 0
Sewer Owner x Tenant 0 21 31 42 0
Trash x Owner Tenant 0 0 0 0 0
Total utility allowance for costs paid by tenant $0 $104 $142 $177 $0
2. Source of Utility Allowance Calculation (Attach Documentation TAB Q)

HUD
Utility Company (Estimate) Local PHA
Utility Company (Actual Survey) Other:
v1.1.2011 Page 14
C. Revenue
1. Indicate the estimated monthly income for the L ow-I ncome Units: **
Total Number of Total Monthly
Unit Type Tax Credit Units Rental Income
Efficiency Units 0 $0
1 Bedroom Units 12 $7,101
4 Bedroom Units 0 $0
Total Number of Tax Credit Units 84
Plus Other Income Source (list): Laundry, late fees & damages, cable $667
Equals Total Monthly Income: $56,668
Twelve Months x12
Equals Annual Gross Potential Income $680,016
Less Vacancy Allowance ( 7.0% ) $47,601
Equals Annual Effective Gr oss I ncome (EGI ) - L ow I ncome Units $632,415
* * Beginning at Row 75 enter the appr opr iate data for both tax cr edit and mar ket r ate units in the yellow shaded cells.
2. Indicate the estimated monthly income for the M ar ket Rate Units: **
Total Number of Total Monthly
Unit Type Market Units Rental Income
Efficiency Units 0 $0
Total Number of Market Units 0
Plus Other Income Source (list): $0

Equals Total Monthly Income: $0
Twelve Months x12
Equals Annual Gross Potential Income $0
Less Vacancy Allowance ( 0.0% ) $0
Equals Annual Effective Gr oss I ncome (EGI ) - M ar ket Rate Units $0
Documentation in Support of Operating Budget attached (TAB R)
L ist number of units by type: TOTAL UNI TS
ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR

0 0 0 0 0 12
2 BD RM-GAR 3 BD RM-GAR 4 BD RM-GAR 2+Story 2 BR-TH 2+Story 3 BR-TH 2+Story 4 BR-TH

60 12 0 0 0 0
1 STY-EFF-ELD 1 STY-1 BR-ELD 1 STY-2 BR-ELD Note: Please be sur e to enter the number of units in the
0 0 0 appr opr iate unit categor y. I f not, you will find an er r or on
the scor esheet at 5a, 6a & 6b.

L ist number of units by type: TAX CREDI T UNI TS
ASSISTED LVG EFF-ELD 1 BD RM-ELD 2 BD RM-ELD EFF-GAR 1 BD RM-GAR
0 0 0 0 0 12
2 BD RM-GAR 3 BD RM-GAR 4 BD RM-GAR 2+Story 2 BR-TH 2+Story 3 BR-TH 2+Story 4 BR-TH

60 12 0 0 0 0
1 Story-EFF-ELD 1 Story-1 BR-ELD 1 Story-2 BR-ELD

0 0 0
Efficiency Units
Unit Type / Net Rentable Monthly Rent Total
Rent Targeting Number Units Square Feet Per Unit Monthly Rent
Efficiency - 40% 0 0.00 $ - $ -

Efficiency - 40% 0 0.00 $ - $ -
Efficiency - 40% 0 0.00 $ - $ -
v1.1.2011 Page 15
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% 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 - 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 $ - $ -
Total Efficiency Total Monthly Eff.
Tax Credit Units: 0 0.00 Tax Credit Rent: $ -
Efficiency - Market 0 0.00 $ - $ -

Total Efficiency
Market Units: 0 0.00 Total Monthly
Eff. Market Rent: $ -
Total Eff. Units: 0 Total Eff. Rent $ -
1-Bedroom Units
Net Rentable Monthly Rent Total
v1.1.2011 Page 15
1 BR - 40% 2 771.00 $ 643 $ 1,286
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 40% 0 0.00 $ - $ -
1 BR - 50% 4 771.00 $ 643 $ 2,572

1 BR - 50% 5 771.00 $ 520 $ 2,600
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 50% 0 0.00 $ - $ -
1 BR - 60% 1 771.00 $ 643 $ 643

1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
1 BR - 60% 0 0.00 $ - $ -
Total 1-BR Total Monthly 1-BR
Tax Credit Units: 12 9,252.00 Tax Credit Rent: $ 7,101
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
1 BR - Market 0 0.00 $ - $ -
Total 1-BR
1-BR Market Rent: $ -
v1.1.2011 Page 15
Total 1-BR Units: 12 Total 1-BR Rent $ 7,101
2-Bedroom Units
2 BR - 40% 6 1,053.00 $ 724 $ 4,344

2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 40% 0 0.00 $ - $ -
2 BR - 50% 21 1,053.00 $ 724 $ 15,204

2 BR - 50% 30 1,053.00 $ 606 $ 18,180
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 50% 0 0.00 $ - $ -
2 BR - 60% 3 1,053.00 $ 724 $ 2,172

2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - 60% 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
v1.1.2011 2 BR - Market 0 0.00 $ - $ - Page 15

2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
2 BR - Market 0 0.00 $ - $ -
Total 2-BR
3-Bedroom Units
3 BR - 40% 1 1,211.00 $ 813 $ 813

3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 40% 0 0.00 $ - $ -
3 BR - 50% 4 1,211.00 $ 813 $ 3,252

3 BR - 50% 6 1,211.00 $ 687 $ 4,122
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 50% 0 0.00 $ - $ -
3 BR - 60% 1 1,211.00 $ 813 $ 813

3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - 60% 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
3 BR - Market 0 0.00 $ - $ -
v1.1.2011 3 BR - Market 0 0.00 $ - $ - Page 15
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 $ - $ -
Total 3-BR
4-Bedroom Units
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 0 0.00 $ - $ -
4 BR - 40% 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 $ - $ -
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 - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
4 BR - 60% 0 0.00 $ - $ -
v1.1.2011 4 BR - 60% 0 0.00 $ - $ - Page 15
4 BR - 60% 0 0.00 $ - $ -
Tax Credit Units: 0 0.00 Tax Credit Rent: $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
4 BR - Market 0 0.00 $ - $ -
Total 4-BR
Total 4-BR Units: 0 Total 4-BR Rent $ -
Total Units 84 Net Rentable SF: TC Units 86,964.00

MKT Units 0.00
Total NR SF: 86,964.00
Floor Space Fraction 100.0000%
v1.1.2011 Page 15
D. Oper ating Expenses

Administr ative:
1. Advertising/Marketing $3,000
2. Office Salaries $0
3. Office Supplies $3,398
4. Office/Model Apartment (type______) $0
5. Management Fee $32,309
5.11% of EGI 384.6309524 Per Unit
6. Manager Salaries $17,000
7. Staff Unit (s) (type______) $0
8. Legal $748
9. Auditing $4,250
10. Bookkeeping/Accounting Fees $4,000
11. Telephone & Answering Service $2,580
12. Tax Credit Monitoring Fee $2,520
13. Miscellaneous Administrative $5,000
Total Administr ative $74,805
Utilities
14. Fuel Oil $0
15. Electricity $15,000
16. Water $15,000
17. Gas $0
18. Sewer $0
Total Utility $30,000
Oper ating:
19. Janitor/Cleaning Payroll $0
20. Janitor/Cleaning Supplies $0
21. Janitor/Cleaning Contract $0
22. Exterminating $5,000
23. Trash Removal $20,000
24. Security Payroll/Contract $1,518
25. Grounds Payroll $0
26. Grounds Supplies $0
27. Grounds Contract $25,000
28. Maintenance/Repairs Payroll $28,081
29. Repairs/Material $8,526
30. Repairs Contract $21,547
31. Elevator Maintenance/Contract $0
32. Heating/Cooling Repairs & Maintenance $0
33. Pool Maintenance/Contract/Staff $0
34. Snow Removal $0
35. Decorating/Payroll/Contract $0
36. Decorating Supplies $0
37. Miscellaneous $0
Oper ating & M aintenance Totals $109,672
Taxes & I nsur ance
38. Real Estate Taxes $86,000
39. Payroll Taxes $0
40. Miscellaneous Taxes/Licenses/Permits $0
41. Property & Liability Insurance $39,340
42. Fidelity Bond $0
43. Workman's Compensation $0
44. Health Insurance & Employee Benefits $21,466
45. Other Insurance $0
Total Taxes & I nsur ance $146,806
6544
Total Oper ating Expense $361,283
D1. Total Oper. Ex. Per Unit $4,301 D2. Total Oper. Ex. As % EGI (from E3) 57.13%
Replacement Reser ves (Total # Units X $300 or $250 New Const. Elderly Minimum) $25,200
Total Expenses $386,483
v1.1.2011 Page 16
E. Cash Flow (Fir st Year )

1. Annual EGI Low-Income Units from (C1) $632,415
2. Annual EGI Market Units (from C2) + $0
3. Total Effective Gross Income = $632,415
4. Total Expenses (from D) $386,483
5. Net Operating Income = $245,932
6. Total Annual Debt Service (from Page 21 B2) - $214,086
7. Cash Flow Available for Distribution = $31,846
F. Pr oj ections for Financial Feasibility - 15 Year Pr oj ections of Cash Flow
Stabilized
Year 1 Year 2 Year 3 Year 4 Year 5
Eff. Gr oss I ncome 632,415 645,063 657,964 671,124 684,546
L ess Oper . Expenses 386,483 398,077 410,020 422,320 434,990
Net I ncome 245,932 246,986 247,945 248,803 249,556
L ess Debt Ser vice 214,086 214,086 214,086 214,086 214,086
Cash Flow 31,846 32,899 33,858 34,717 35,470
Debt Cover age Ratio 1.15 1.15 1.16 1.16 1.17

Eff. Gr oss I ncome 698,237 712,202 726,446 740,975 755,794
Net I ncome 250,197 250,721 251,121 251,390 251,522
Cash Flow 36,111 36,635 37,034 37,303 37,435

Eff. Gr oss I ncome 770,910 786,328 802,055 818,096 834,458
Net I ncome 251,509 251,346 251,023 250,533 249,868
Cash Flow 37,423 37,259 36,936 36,446 35,781
Estimated Annual Percentage Increase in Revenue 2.00% (Must be < 2%)
Estimated Annual Percentage Increase in Expenses 3.00% (Must be > 3%)
v1.1.2011 Page 17
VI I I . PROJECT BUDGET
A. Cost/Basis/M aximum Allowable Cr edit
Complete cost column and basis column(s) as appropriate through A12. Check if the following
documentation is attached at TAB S:
Executed Construction Contract
Executed Trade Payment Breakdown
Appraisal
Other Cost Documentation
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 (B) Acquisition (C) Rehab/ "70 % Present
New Construction Value Credit"
1. Contr actor Cost
A. Off-Site Improvements 0 0 0 0
B. Site Work 1,500,000 0 0 1,500,000
C. Geothermal System 0 0 0 0
D. Unit Structures (New) 5,534,500 0 0 5,534,500
E. Unit Structures (Rehab) 0 0 0 0
F. Solar Electric System 0 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 1A..1J) 7,034,500 0 0 7,034,500
L. General Requirements 300,000 0 0 300,000
M. Builder's Overhead 140,600 0 0 140,600
( 2.0% Contract)
N. Builder's Profit 404,000 0 0 404,000
( 5.7% Contract)
O. Bonding Fee 0 0 0 0
P. Other 0 0 0 0
Q. Contractor Cost
Subtotal (Sum 1K..1P) $7,879,100 $0 $0 $7,879,100
2. Owner Costs
A. Building Permit 80,000 0 0 80,000
B. Arch./Engin. Design Fee 191,300 0 0 191,300
( 2,277 /Unit)
C. Arch. Supervision Fee 8,400 0 0 8,400
( 100 /Unit)
D. Tap Fees 0 0 0 0
E. Soil Borings 10,000 0 0 10,000
v1.1.2011 Page 18

2. Owner Costs Continued
F. Construction Loan 0 0 0 0
Origination Fee
G. Construction Interest 317,749 0 0 206,537
( 4.5% for 15 months)
H. Taxes During Construction 10,000 0 0 10,000
I. Insurance During Construction 40,000 0 0 40,000
J. Cost Certification Fee 35,000 0 0 35,000
K. Title and Recording 75,000 0 0 37,500
L. Legal Fees for Closing 90,000 0 0 32,500
M. Permanent Loan Fee 68,825 0 0 0
( 2.5% )
N. Other Permanent Loan Fees 0 0 0 0
O. Credit Enhancement 0 0 0 0
P. Mortgage Banker 27,530 0 0 0
Q. Environmental Study 15,000 0 0 15,000
R. Structural/Mechanical Study 0 0 0 0
S. Appraisal Fee 7,500 0 0 7,500
T. Market Study 9,000 0 0 9,000
U. Operating Reserve 300,285 0 0 0
V. Tax Credit Fee 64,583 0 0 0
W. OTHER $213,000 $0 $0 $80,000
(SEE PAGE 19A)
X. Owner Cost
Subtotal (Sum 2A..2W) $1,563,172 $0 $0 $762,737
Subtotal 1 + 2 $9,442,272 $0 $0 $8,641,837

(Owner + Contractor Costs)
3. Developer 's Fees 1,220,000 0 0 1,220,000
4. Owner 's Acquisition Costs

Land 500,000
Existing Improvements 0 0
Subtotal 4: $500,000 $0
5. Total Development Costs

Subtotal 1+2+3+4: $11,162,272 $0 $0 $9,861,837
I f this application seeks r ehab cr edits only, in which ther e is no acquisition and no change in owner ship, enter the gr eater of
appr aised value or tax assessment value her e: $0 L and
(Attach documentation at Tab K ) $0 Building
1.1.2011 Page 19

W. OTHER OWNER COSTS
Contingency Reserve 0 0 0 0
(Rehab or Adaptive Reuse only)
L I ST ADDI TI ONAL I TEM S
Construction Management 0 0 0 0
Marketing 10,000 0 0 0
Survey 0 0 0 0
Rent Up Reserve 40,000 0 0 0
Virginia Power and Light 30,000 0 0 30,000
Tax & Insurance Escrow 43,000 0 0 0
City Inspection Fees 50,000 0 0 50,000
Legal for Syndication 40,000 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) $213,000 $0 $0 $80,000
v1.1.2011 Page 19A


"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 11,162,272 0 0 9,861,837
6. Reductions in Eligible Basis
Subtract the following:

A. Amount of federal grant(s) used to finance 0 0 0
qualifying development costs
B. Amount of nonqualified, nonrecourse financing 0 0 0
C. Costs of nonqualifying units of higher quality 0 0 0

(or excess portion thereof)
D. Historic Tax Credit (residential portion) 0 0 0
7. Total Eligible Basis (5 minus 6 above) 0 0 9,861,837
8. Adj ustment(s) to Eligible Basis (For non-acquisition costs in eligible basis)

(i) For QCT or DDA (Eligible Basis x 30%) 0 0
(ii) For Earthcraft or LEED Certification 0 986,184
Total Adj usted Eligible basis 0 10,848,021
9. Applicable Fr action 100.0000% 100.0000% 100.0000%
10. Total Qualified Basis (Same as Par t I X-C) 0 0 10,848,021

(Eligible Basis x Applicable Fraction)
11. Applicable Per centage 0.00% 0.00% 9.00%

(For 2011 9% competitive credits, use the March 2011 applicable percentages for acq.)
(For 9% non-competitive & tax exempt bonds, use the most recently published rates)
12. M aximum Allowable Cr edit under I RC §42 $0 $0 $976,322

(Qualified Basis x Applicable Percentage)
(Same as Part IX-C and equal to or more than $976,322
credit amount requested) Combined 30% & 70% P. V. Credit
v1.1.2011 Page 20
B. Sour ces of Funds
1. Constr uction 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. VHDA-Taxable 03/01/11 07/01/11 $1,803,016 VHDA
2. VHDA-SPARC/REACH 03/01/11 07/01/11 $950,000 VHDA
3. PRHA Loan 01/01/11 02/28/11 $750,000 Kathy Warren
Commitments or letter(s) of intent attached (TAB T)
2. Per manent Financing: List individually the sources of all permanent financing in order of lien position:
Interest Amor tization Term

Date of Date of Amount of Annual Debt Rate of Per iod of
Source of Funds Application Commitment Funds Service Cost Loan I N YEARS Loan (years)
1. VHDA Taxable 03/01/11 07/01/11 $1,803,016 $158,005 7.95% 30 30
2. VHDA REACH/SPARC 03/01/11 07/01/11 $950,000 $56,081 4.25% 30 30
3. PRHA Loan 01/01/11 02/28/11 $750,000 $0 0.05% 40 40
4. $0 $0 0.00% 1000 0
5. $0 $0 0.00% 1000 0
6. $0 $0 0.00% 1000 0
Totals: $3,503,016 $214,086
3. Gr ants: 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. $0
Total Permanent Grants: $0

v1.1.2011 Page 21
4. Portion of Syndication Proceeds Attributable to Historic Tax Credit

Amount of Federal historic credits $0 x Equity % $0.00 $0
Amount of Virginia historic credits $0 x Equity % $0.00 $0
6. Equity that Sponsor will Fund:

Cash Investment $0
Contributed Land/Building $0 Assessment Attached (TAB S)
Deferred Developer Fee $0
Other: $0
Equity Total $0
7. Total of All Sources (B2 + B3 + B4 + B5 + B6) $3,503,016
(not including syndication proceeds except for historic tax credits)
8. Total Development Cost $11,162,272

(From VIII-A5)
9. Less Total Sources of Funds (From B7 above) $3,503,016
10. Equals equity gap to be funded with low-income tax credit

proceeds (must equal IX-D3) $7,659,256
C. Syndication I nfor mation (I f Applicable)
1. Actual or Anticipated Name of Syndicator Bank of America, N.A.

2. Contact Person Priya Jayachandran Phone (202)442-7530
3. Street Address 730 15th Street, NW, 8th Floor
City Washington State DC Zip 20005
4. a. Total to be paid by anticipated users of credit (e.g., limited partners) $7,659,255

b. Equity Dollars Per Credit (e.g., $0.85 per dollar of credit) $0.85
c. Percent of ownership entity (e.g., 99% or 99.9%) 99.99%
d. Net credit amount anticipated by user of credits $901,089
e. Syndication costs not included in VIII-A5 (e.g., advisory fees) $0
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) $7,659,255
6. Amount of annual credit required for above amounts

(same amount as Part IX-D6) $901,179
7. Net Equity Factor [C5 / (C6 X 10)]
(same amount as Part IX-D4) 84.99%
8. Syndication: Public or Private

9. Investors: Individual or Corporate
v1.1.2011 Page 22
D. Recap of Feder al, State, and L ocal Funds/Any Cr edit 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? Yes No
If yes, then check the type and list the amount of money involved.
Below-Market Loans Market-Rate Loans
Tax Exempt Bonds $0 Taxable Bonds $1,803,016

RD 515 $0 Section 220 $0
Section 221(d)(3) $0 Section 221(d)(3) $0
Section 312 $0 Section 221(d)(4) $0
Section 236 $0 Section 236 $0
VHDA SPARC/REACH $950,000 Section 223(f) $0
HOME Funds Other: $0
Other: PRHA Loan $750,000
Other: $0
Grants Grants
CDBG $0 State $0
UDAG $0 Local $0
Other: $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. PRHA Loan 03/01/11 $750,000
2. $0
3. $0
4. $0
5. $0
3. Does any of your financing have any credit enhancement? Yes No

If yes, list which financing and describe the credit enhancement:
4. Other Subsidies Documentation Attached (TAB Q)

Real Estate Tax Abatement on the increase in the value of the development.
New project based subsidy from HUD or Rural Development for the greater of 5 or 10% of the units in the development.
NOTE: Must be new project based subsidy from HUD or RD to qualify for points
Other Subsidies
5. Is HUD approval for transfer of physical asset required?

Yes No
E. For Tr ansactions Using Tax-Exempt Bonds Seeking 4% Cr edits:

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: N/A
v1.1.2011 Page 23
I X. ADDI TI ONAL I NFORM ATI ON
A. Extended Use Restr iction
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.
This development will be subject to the standard extended use agreement which permits early
termination (after the mandatory 15-year compliance period) of the extended use period.
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 if IX.B is checked below.
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 if IX.B is checked below.
B. Nonpr ofit/L ocal Housing Author ity Pur chase Option/Right of Fir st Refusal
1. After the mandatory 15-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. Do not select if extended compliance is selected in IX.A above.
Option or Right of Fir st Refusal in Recor dable For m Attached (TAB V)

Enter name of qualified nonpr ofit: Portsmouth Redevelopment & Housing Authority
2. A qualified nonprofit or local housing authority submits a homeownership plan committing to

sell the units in the development after the mandatory 15-year compliance period to tenants whose
incomes shall not exceed the applicable income limit at the time of their initial occupancy.
Do not select if extended compliance is selected in IX.A above.
Homeowner ship Plan Attached (TAB J)
v1.1.2011 Page 24
C. Building-by-Building I nfor mation M ust Complete

Qualified basis must be determined on a building-by building basis. Complete the section below. Building street addresses are required by the IRS (must have them by the time of
allocation request).
NUMBER 30% Present Value 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
Build Street Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit
ing # Address Basis Date Percentage Amount Basis Date Percentage Amount Basis Date Percentage Amount
1. 12 0 $0 0.00% 0 $0 0.00% 0 $1,549,717 10/31/11 9.00% 139,475
2. 12 0 $0 0.00% 0 $0 0.00% 0 $1,549,717 11/30/11 9.00% 139,475
3. 12 0 $0 0.00% 0 $0 0.00% 0 $1,549,717 11/30/11 9.00% 139,475
4. 12 0 $0 0.00% 0 $0 0.00% 0 $1,549,717 12/31/11 9.00% 139,475
5. 12 0 $0 0.00% 0 $0 0.00% 0 $1,549,717 12/31/11 9.00% 139,475
6. 12 0 $0 0.00% 0 $0 0.00% 0 $1,549,717 01/31/12 9.00% 139,475
7. 12 0 $0 0.00% 0 $0 0.00% 0 $1,549,717 01/31/12 9.00% 139,475
8. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
9. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
10. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
11. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
12. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
13. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
14. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
15. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
16. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $10,848,021
$0 $0 $976,322
Qualified Basis Totals (must agree with VIII-A10)
Credit Amount Totals (must agree with VIII-A-12)
v1.1.2011 Page 25


TAX MARKET
17. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
18. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
19. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
20. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
21. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
22. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
23. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
24. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
25. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
26. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
27. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
28. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
29. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
30. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
31. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
32. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v1.1.2011 Page 25 (2)



TAX MARKET
33. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
34. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
35. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
36. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
37. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
38. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
39. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
40. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
41. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
42. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
43. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
44. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
45. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
46. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
47. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
48. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v1.1.2011 Page 25 (3)



TAX MARKET
49. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
50. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
51. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
52. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
53. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
54. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
55. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
56. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
57. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
58. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
59. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
60. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
61. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
62. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
63. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
64. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v1.1.2011 Page 25 (3)



TAX MARKET
65. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
66. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
67. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
68. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
69. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
70. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
71. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
72. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
73. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
74. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
75. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
76. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
77. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
78. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
79. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
80. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v1.1.2011 Page 25 (3)



TAX MARKET
81. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
82. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
83. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
84. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
85. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
86. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
87. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
88. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
89. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
90. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
91. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
92. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
93. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
94. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
95. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
96. $0 0.00% 0 $0 0.00% 0 $0 0.00% 0
$0 $0 $0
$0 $0 $0
v1.1.2011 Page 25 (3)

D. Deter mination of Reser vation 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 IRC, 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) $11,162,272
2. Less Total Sources of Funds (from VIII-B7 page 22) $3,503,016
3. Equals Equity Gap $7,659,256
4. Divided by Net Equity Factor (VIII-C7 page 22) 84.99%

(Percent of 10-year credit expected to be raised as equity investment)
5. Equals Ten-Year Credit Amount Needed to Fund Gap $9,011,790
Divided by ten years 10
6. Equals Annual Tax Credit Required to Fund the Equity Gap $901,179
7. The Maxi mum Allowable Credit Amount $976,322

(from VIII-A12-combined figure)
(This amount must be equal to or more than 6 above)
8. Reservation Amount (Lesser of 6 or 7 above)

Credit per Unit 10,728 Combined 30% & 70% PV Credit
Credit per Bedroom 5,364 $901,179

Comprised of
$0 and $901,179
30% PV Credit 70% PV Credit
(Based on same relative percentages as VIII-A12)
E. Attor ney’ s Opinion Goal Seek Function

Attached in Mandator y TAB W ) 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 first
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 at
the 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 that
a solution has been found and if the amount is correct click “OK”. If the amounts
are now equal the error message will disappear.
v1.1.2011 Page 26
2011 LIHTC SELF SCORE SHEET:
Self Scoring Process
This 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,
denoted below in the green shaded cells, are items that are typically evaluated by VHDA’s staff during the application review and
feasibility analysis. For purposes of self scoring, it will be necessary for you to make certain decisions and assumptions about your
application 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 Letter will require one of the following responses: Y
– the letter indicates unconditional support; N – the letter indicates opposition to the project; NC – no comment from the locality, or
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 responses
where appropriate, which may change the final score.
MANDATORY ITEMS: Score

a. Signed, completed application Y Y or N 0
b. Duplicate copy of application Y Y or N 0
c. Partnership agreement Y Y or N 0
d. SCC Certification Y Y or N 0
e. Previous participation form Y Y or N 0
f. Site control document Y Y or N 0
g. Architect's Certification Y Y or N 0
h. Attorney's opinion Y Y or N 0
i. Nonprofit questionnaire (if NP) Y Y, N, N/A 0
0.00
1. READINESS:
a. Plan of development N 0 or 40 0.00
b. Zoning approval Y 0 or 40 40.00
Total: 40.00
2. HOUSING NEEDS CHARACTERISTICS:

a. VHDA notification letter to CEO Y 0 or -50 0.00
b. Local CEO letter (Y,NC,N) Y 0 or 25 or 50 50.00
c. Location in a revitalization area Y 0 or 30 30.00
d. Location in a Qualified Census Tract and revitalization area N 0 or 5 0.00
e. Sec 8 or PHA waiting list preference Y 0 or 10 10.00
f. Subsidized funding commitments 6.72% Up to 40 13.44
g. Existing RD, HUD Section 8 or 236 program N 0 or 20 0.00
h. Tax abatement or new project based rental subsidy (HUD or RD) Y 0 or 10 10.00
i. Census tract with <10% poverty rate, no tax credit units N 0 or 25 0.00
j. Development listed on the Rural Development Rehab Priority List N 0 or 15 0.00
k. Dev. located in area with little or no increase in rent burdened population Up to -20 0.00
l. Dev. located in area with increasing rent burdened population Up to 20 0.00
Total 113.44
3. DEVELOPMENT CHARACTERISTICS:
a. Unit size (See calculations below) Up to 100 100.00
b. Amenities (See calculations below) Up to 70 60.80
c. Project subsidies/HUD 504 accessibility for 5 or 10% of units Y 0 or 50 50.00
or d. HCV payment standard/HUD 504 accessibility for 5 or 10% of units N 0 or 30 0.00
or e. HUD 504 accessibility for 4% of units N 0 or 15 0.00
f. Proximity to public transportation Y10 0, 10 or 20 10.00
g. Development will be Earthcraft or LEED certified 0,15,30,45 45.00
h. VHDA Certified Property Management Agent Y 0 or 25 25.00
i. Units constructed to meet VHDA's Universal Design standards 11% Up to 15 1.61
j. Developments with less than 100 units Up to 20 6.40
Total 298.81
4. TENANT POPULATION CHARACTERISTICS:

a. <= 20% of units having 1 or less bedrooms Y 0 or 15 15.00
b. Percent of units with 3 or more bedrooms 14.29% Up to 15 10.71
Total 25.71
5. SPONSOR CHARACTERISTICS:
a. Developer experience - 3 developments with 3 x units or 6 developments with 1 x units Y 0 or 50 50.00
or b. Developer experience - 1 development with 1 x units N 0 or 10 0.00
c. Developer experience - uncorrected hazard N 0 or -50 0.00
v1.1.2011
d. Developer experience - noncompliance Enter Total Negative N 0 or -15 0.00
e1. Developer experience - did not build as represented Points Here: 0 0 or -x 0.00
e2. Developer experience - termination of credits by VHDA N 0 or -10 0.00
f. Management company rated unsatisfactory N 0 or -25 0.00
Total 50.00
6. EFFICIENT USE OF RESOURCES:

a. Credit per unit If #N/A or #REF! appears in the score column of these point Up to 180 62.92
b. Cost per unit categories check spelling of Clerk's Office on pg 1. It must match Up to 75 25.27
Total exactly with the Jurisdiction names listed in the Application Manual. 88.19
7. BONUS POINTS: Locality AMI State AMI

a. Units with rents at or below 40% of AMI $68,200 $53,300 11% Up to 10 10.00
b. Units with rent and income at or below 50% of AMI 94% Up to 50 47.02
or c. Units with rents at or below 50% rented to tenants at or below 60% of AMI 94% Up to 25 0.00
or d. Units in Low Income Jurisdictions with rents <= 50% rented to tenants with <= 60% of AMI 94% Up to 50 0.00
e. Extended compliance 0 Years 40 or 50 0.00
or f. Nonprofit or LHA purchase option Y 0 or 60 60.00
or g. Nonprofit or LHA Home Ownership option N 0 or 5 0.00
Total 117.02
500 Point Threshold - 9% Credits TOTAL SCORE: 733.18

475 Point Threshold - Tax Exempt Bond Credits
Unit Size Calculations:

E-AS LVG E-EFF E-1 BDRM E-2 BDRM
High Sq.Ft. / BDRM 0 0 0 0
Low Sq.Ft. / BDRM 0 0 0 0
Project Sq.Ft. / BDRM 0 0 0 0
Percentage of Units 0.00% 0.00% 0.00% 0.00%
Points per Bedroom 0.00 0.00 0.00 0.00
F-EFF-G F-1 BDRM-G F-2 BDRM-G F-3 BDRM-G

High Sq.Ft. / BDRM 0 775 1,050 1,175
Low Sq.Ft. / BDRM 0 620 840 940
Project Sq.Ft. / BDRM 0 805 1,087 1,245
F-4 BDRM-G F-2 BDRM-TH F-3 BDRM-TH F-4 BDRM-TH

High Sq.Ft. / BDRM 0 0 0 0
Low Sq.Ft. / BDRM 0 0 0 0
Project Sq.Ft. / BDRM 0 0 0 0
1 ST ELD-EFF 1 ST ELD-1 BDRM 1 ST ELD-2 BDRM If you do not receive a numeric point
High Sq.Ft. / BDRM 0 0 0 in the unit size calculations, pleas
Low Sq.Ft. / BDRM 0 0 0 check the values entered on page
Project Sq.Ft. / BDRM 0 0 0 These must be whole number num
Percentage of Units 0.00% 0.00% 0.00% values only. Also check page 7, it
Points per Bedroom 0.00 0.00 0.00 the number of units must be eithe
adapt or rehab only. Combination
Total Unit Size Points: 100.00 not calculate correctly.
Amenities:
All units have:
a. 1.5 or 2 Bathrooms 100.00% 15.00
b. Community Room 5.00
c. Brick Walls 34.00% 6.80
d. Kitchen/Laundry Appl-Energy Star 5.00
e. Windows-Energy Star 5.00
f. Heat/AC-SEER-AFUE 10.00
g. Sub-metered water expense 5.00
h. Low flow faucets & showerheads 3.00
i. High speed cable, DSL, wireless internet 1.00
j. Water heaters meet EPA Energy Star requirements 5.00
k. Geothermal Heat Pump - EPA Energy Star requirements 0.00
l. Solar Electric System - EPA Energy Star requirements 0.00
Total 60.80
All elderly units have:
v1.1.2011 a. Front-control ranges 0.00
b. Emergency call system 0.00
c. Independent/suppl. heat source 0.00
d. Two eye viewers 0.00
Total 0.00
All rehab or adaptive reuse units:

b. Historic structure 0.00
Total amenities: 60.80
v1.1.2011
$/SF = $115.32 Credits/SF = $10.03 Const $/unit = $93,799
TYPE OF PROJECT FAMILY = 11000; ELDERLY = 12000 11000 If an ERROR message appears here check
LOCATION BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR=600 400 spelling of Clerk's Office on pg 1. It must 400
TYPE OF CONSTRUCTION N C=1; ADPT=2;REHAB(35,000+)=3; REHAB*(15,000-35,000)=4 1 match exactly with the Jurisdiction names 1
*REHABS LOCATED IN BELTWAY ($15,000-$50,000) See Below listed in the Application Manual.
ELDERLY
AS LVG EFF-E 1 BR-E 2 BR-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=>35,000) 0 0 0 0 0 0 0
PARAMETER-(COSTS<35,000) 0 0 0 0 0 0 0
PARAMETER-(COSTS=>50,000) 0 0 0 0 0 0 0
PARAMETER-(COSTS<50,000) 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=>35,000) 0 0 0 0 0 0 0
PARAMETER-(CREDITS<35,000) 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 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH
AVG UNIT SIZE 0 805 1,087 1,245 0 0 0 0
NUMBER OF UNITS 0 12 60 12 0 0 0 0
PARAMETER-(COSTS=>35,000) 0 140,128 189,851 212,452 0 0 0 0

PARAMETER-(COSTS<35,000) 0 0 0 0 0 0 0 0
PARAMETER-(COSTS=>50,000) 0 140,128 189,851 212,452 0 0 0 0

PARAMETER-(COSTS<50,000) 0 0 0 0 0 0 0 0
COST PARAMETER 0 140,128 189,851 212,452 0 0 0 0

PROJECT COST PER UNIT 0 92,880 125,400 143,620 0 0 0 0
PARAMETER-(CREDITS=>35,000) 0 12,423 16,832 18,835 0 0 0 0

PARAMETER-(CREDITS<35,000) 0 0 0 0 0 0 0 0

CREDIT PARAMETER 0 12,423 16,832 18,835 0 0 0 0

PROJECT CREDIT PER UNIT 0 8,078 10,906 12,491 0 0 0 0
COST PER UNIT POINTS 0.00 3.61 18.19 3.47 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 0.00 8.99 45.27 8.66 0.00 0.00 0.00 0.00
TOTAL COST PER UNIT POINTS 25.27
TOTAL CREDIT PER UNIT POINTS 62.92
v1.1.2011
$/SF = $115.32 Credits/SF = $10.03 Const $/unit = $93,799
TYPE OF PROJECT FAMILY = 11000; ELDERLY = 12000 11000 If an ERROR message appears here check
LOCATION BELT=100; NVM=110; NVNM=200; RIC=300; TID=400; SMA=500; SMA-C=510; RUR=600 400 spelling of Clerk's Office on pg 1. It must 400
TYPE OF CONSTRUCTION N C=1; ADPT=2;REHAB(35,000+)=3; REHAB*(10,000-35,000)=4 1 match exactly with the Jurisdiction names 1
*REHABS LOCATED IN BELTWAY ($10,000-$50,000) See Below listed in the Application Manual.
ELDERLY
AS LVG EFF-E 1 BR-E 2 BR-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=>35,000) 0 0 0 0 0 0 0
PARAMETER-(COSTS<35,000) 0 0 0 0 0 0 0
PARAMETER-(COSTS=>50,000) 0 0 0 0 0 0 0
PARAMETER-(COSTS<50,000) 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
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 2 BR-G 3 BR-G 4 BR-G 2 BR-TH 3 BR-TH 4 BR-TH
AVG UNIT SIZE 0 805 1,087 1,245 0 0 0 0
NUMBER OF UNITS 0 12 60 12 0 0 0 0
PARAMETER-(COSTS=>35,000) 0 140,128 189,851 212,452 0 0 0 0

PARAMETER-(COSTS<35,000) 0 0 0 0 0 0 0 0
PARAMETER-(COSTS=>50,000) 0 140,128 189,851 212,452 0 0 0 0

PARAMETER-(COSTS<50,000) 0 0 0 0 0 0 0 0
COST PARAMETER 0 140,128 189,851 212,452 0 0 0 0

PROJECT COST PER UNIT 0 92,880 125,400 143,620 0 0 0 0


CREDIT PARAMETER 0 12,423 16,832 18,835 0 0 0 0

PROJECT CREDIT PER UNIT 0 8,078 10,906 12,491 0 0 0 0
COST PER UNIT POINTS 0.00 3.61 18.19 3.47 0.00 0.00 0.00 0.00
CREDIT PER UNIT POINTS 0.00 8.99 45.27 8.66 0.00 0.00 0.00 0.00
TOTAL COST PER UNIT POINTS 25.27
TOTAL CREDIT PER UNIT POINTS 62.92
v1.1.2011
MARKETING PLAN FOR ACCESSIBLE HOUSING
HAMILTON PLACE, PHASE II
Thirty-Eight (38), or 45% percent, of the LIHTC units in Hamilton Place Phase II will be provided
with Section 8 Project Based Voucher (PBV) subsidies by the Portsmouth Redevelopment and
Housing Authority (PRHA). This ensures that these units (i) will receive federal project-based
rent subsidies making them available to extremely low-income persons; (ii) conform to HUD
regulations interpreting the accessibility requirements of section 504 of the Rehabilitation Act;
and (iii) are actively marketed to people with special needs. The units included in the LIHTC
application that are designated for those with mobility impairments will include roll-in showers
and roll under sinks and front controls for ranges.
The policies for admission to and occupancy of PBV subsidized apartments are spelled out in
the policies in accordance with Federal and State laws and HUD policies and regulations.
PRHA will ensure that the property manager adopts suitable means to assure that
information regarding the availability of accessible units reaches eligible individuals with
disabilities, and take reasonable nondiscriminatory steps to maximize the utilization of
such units by eligible individuals whose disability requires the accessibility features of a
particular unit.
When an accessible unit becomes vacant, the property manager will offer such
units:
• First, to a current resident of another unit of the same development who

has a disability that requires the special features of the vacant unit and is
occupying a unit not having such features, or if no such occupant exists,
then
• Second, to an eligible qualified applicant on the waiting list having a
disability that requires the special features of the vacant unit.
PRHA will ensure that contacts are made with centers for independent living
(www.accessva.org) to inform them as housing designed for those with special needs becomes
available. In particular, direct contact will be made with the two centers in the Tidewater area:
• Peninsular Center for Independent Living, 2021-A Cunningham Dr., Suite 2, Hampton,
VA 23666, 757-827-0275, TTY 757-827-8800; and
• Endependence Center, Inc., 6300 E. Virginia Beach Boulevard, Virginia Beach, VA 23502,
757-461-8007, TTY 757-461-7527.
Marketing Plan for Accessible Units Page 1

In addition to the above plans, PRHA has a long, successful history and commitment to making
“reasonable accommodations” to both units designed for those with mobility problems and to
other units in order to meet the specific requirements of applicants for and occupants of these
LIHTC apartments. The needs of all household members may change over time and PRHA is
obligated to assist as needed. PRHA’s policies spell out its broader requirements to follow all of
the Federal and Commonwealth requirements regarding fair housing. For example the the
policies in part state:
Federal laws require PHAs to treat all applicants and tenant families equally,
providing the same quality of service, regardless of family characteristics and
background. Federal law prohibits discrimination in housing on the basis of race,
color, religion, sex, national origin, age, familial status, and disability. The PHA
will comply fully with all federal, state, and local nondiscrimination laws, and
with rules and regulations governing fair housing and equal opportunity in
housing and employment, including:
• Title VI of the Civil Rights Act of 1964

• Title VIII of the Civil Rights Act of 1968 (as amended by the Community
Development Act of 1974 and the Fair Housing Amendments Act of 1988)
• Executive Order 11063
• Section 504 of the Rehabilitation Act of 1975
• The Age Discrimination Act of 1975
• Title II of the Americans with Disabilities Act (to the extent that it applies,
otherwise Section 504 and the Fair Housing Amendments govern)
• Violence Against Women Reauthorization Act of 2005 (VAWA)
• Any applicable state laws or local ordinances and any legislation
protecting individual rights of tenants, applicants, or staff that may
subsequently be enacted
In accordance with the above, the PRHA has developed a specific accessibility marketing
plan for Hamilton Place Phase II. This plan is outlined below:
Accessibility Marketing Action Steps:
1. 90 days prior to initial occupancy.

a. The property manager will check the Hamilton Place waiting list to
determine persons who are in need of the accessible apartments.

b. The property manager will meet with and inform Peninsular Center for
Independent Living and Endependence Center, Inc. of the upcoming
resources and request them to inform potentially interested persons.
c. The property manager will post information on the coming accessible
units’ availability on its web site.
d. The property manager will post listing of accessible units on
www.accessiblespace.org.
e. The property manager will advise social service agencies, faith-based
organizations, as well as, intermediate and long-term care facilities of
potential availability.
a. The property manager will contact persons currently on the Hamilton
Place waiting list who are in need of accessible housing to determine
their interest in the new housing.
a. The property manager will contact again eligible applicants on the
waiting list who are in need of the accessible housing to determine their
interest in the new housing.
b. The property manager will again inform Peninsular Center for
Independent Living and Endependence Center, Inc. of the upcoming
resources and request them to inform potentially interested persons.
c. The property manager will again post listing of accessible units on
www.accessiblespace.org.
d. The property manager will work with local schools and faith-based
institutions, as well as Section 8 landlords to inform and solicit their
assistance in informing families in need of an accessible housing units to
contact the property manager.
a. If eligible applicants who desire to move into the new accessible
apartments have not been identified 30 days prior to occupancy
availability:
i. Assigned staff will reach out to the Peninsular Center for
Independent Living and Endependence Center, Inc. seeking
guidance and assistance with reaching out to organizations and
individuals who would be aware of persons needing the new
accessible resources.

ii. The property manager will seek publicity through public media
sources to highlight the coming availability of the accessible
apartments.
5. At time of occupancy.
a. If eligible applicants have still not been located for the new apartments,
the property manager will repeat the steps in 4 above.

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INSTRUCTIONS FOR THE

VIRGINIA 2011 LIHTC APPLICATION FOR RESERVATION

An electronic copy of your completed application is a mandatory submission item.

Applications For 9% Competitive Credits

Staff email addresses:

Application For Reser vation

Deadline for Submission

Tax Exempt Bonds

Virginia Housing Development Authority

Electronic Copy of the Microsoft Excel Based Application (M ANDATORY)

v1.1.2011 Submission Checklist

VHDA TRACK I NG NUM BER 2011-C-51

A. Development Name and L ocation:

14. Congressional District 3 http://dlsgis.state.va.us/congress/2001PDFs/chap7Tab.pdf

15. Location Map Attached (TAB A)

B. Pr oj ect Descr iption:

C. Reser vation Request

2. Credits requested from:

Tax Exempt Bonds

This development will receive federal subsidies for:

D. Type(s) of Allocation/Allocation Year

E. Acquisition Cr edit I nfor mation

Ten-Year Rule For Acquisition Cr edits

F. Rehabilitation Cr edit I nfor mation

M inimum Expenditur e Requir ements

G. Request For Exception

I I . OWNERSHI P I NFORM ATI ON

Must be an individual or legally formed entity

A. Owner I nfor mation:

Federal I. D. No. 27-1255050 (If not available, obtain prior to Allocation)

Principals' Previous Participation Certification attached (M andator y TAB D) & resumé.

B. Seller I nfor mation:

C. Development Team I nfor mation:

1. Tax Attorney: Jeffry S. Miller Related Entity? Yes No

2. Tax Accountant: Don Jump Related Entity? Yes No

3. Consultant: Kirk Gray Related Entity? Yes No

4. Management Entity (Contact): Donna Mills Related Entity? Yes No

5. Contractor (Contact): Scott Troutman Related Entity? Yes No

6. Architect: Irwin Kroskin Related Entity? Yes No

7. Real Estate Attorney: Jeff Miller Related Entity? Yes No

8. Mortgage Banker: Dan Mendelson Related Entity? Yes No

9. Other (Contact): Kathy Warren Related Entity? Yes No

D. Nonpr ofit I nvolvement:

1. Nonprofit Involvement (All Applicants)

4. Identity of Nonprofit (All nonprofit applicants)

5. Percentage of Nonprofit Ownership (All nonprofit applicants)

I I I . DEVEL OPM ENT I NFORM ATI ON

A. Str uctur e and Units:

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

Row House/Townhouse Detached Single-family

5. Unheated Floor Area (Breezeways, Balconies, Storage) 15,388.00 (Sq. ft.)

8. Number of Buildings (containing rental units) 7

9. Commercial Area Intended Use:

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

11. a. Total Net Rental Square Feet 86,964.00

Exterior Finish: Vinyl and brick

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

Expected Total Electrical Load (kilowatt hours per month): 0

a. All cooking ranges will have front controls

The structure is listed individually in the National Register of Historic Places or is

Check one or none of the following point categories, as appropriate:

Ear thcr aft or L EED Development Cer tification

Univer sal Design - Units Meeting Universal Design Standards