2018 federal low income housing tax credit program 9 applications...market square iv - reservation...

Market Square IV - Reservation App Cover, printed 1

Virginia Housing Development Authority601 South Belvidere StreetRichmond, Virginia 23220-6500

2018 Federal Low Income HousingTax Credit Program

Application For Reservation

Deadline for Submission

9% Competitive CreditsApplications Must Be Received At VHDA No Later Than 2:00 PM

Richmond, VA Time On March 16, 2018

Tax Exempt BondsApplications 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)

Market Square IV - Reservation App Instructions, printed 1

INSTRUCTIONS FOR THEVIRGINIA 2018 LIHTC APPLICATION FOR RESERVATION

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

Applications For 9% Competitive Credits

Please Note: Applicants should submit all application materials in electronic format only. There should be distinct files 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

6. Unit-By-Unit work write up (rehab only) - PDF or other readable electronic format

IMPORTANT: VHDA can accept files on DVD, CD, flash/thumb drives, via our work center site Procorem.Do not submit any application materials to any email address unless specifically requested by the VHDA LIHTC Allocation Department staff.

Disclaimer:VHDA assumes no responsibility for any problems incurred in using this spreadsheet or for the accuracy of calculations. Checkyour application for correctness and completeness before submitting the application to VHDA.

Entering Data:

Please Note:

Assistance:If you have any questions, please contact the VHDA LIHTC Allocation Department. Please note that we cannot release the copy protection password.

VHDA LIHTC Allocation Staff Contact Information

Name Email Phone NumberJD Bondurant [email protected] (804) 343-5725Hope Rutter [email protected] (804) 343-5574Sheila Stone [email protected] (804) 343-5582Stephanie Flanders [email protected] (804) 343-5939Pamela Freeth [email protected] (804) 343-5518Alena Henderson [email protected] (804) 343-5908

► The spreadsheet contains multiple error checks to assist in identifying potential mistakes in the application. These may appear as data is entered but are dependent on values entered later in the application. Do not be concerned with these messages until all data within the application has been entered.

► Also note that some cells contain error messages such as “#DIV/0!” as you begin. These warnings will disappear as the numbers necessary for the calculation are entered.

5. Specifications - PDF or other readable electronic format (may be combined into the same file as the plans if necessary)

This application was prepared using Excel, Microsoft Office 2010. 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.

Applicants should submit an electronic copy of the application package prior to the application deadline, which is 2:00 PM Richmond Virginia time on March 16, 2018. Failure to submit an electronic copy of the application by the deadline will cause the application to be disqualified.

Enter numbers or text as appropriate in the blank spaces highlighted in yellow. Cells have been formatted as appropriate for the data expected. All other cells are protected and will not allow changes.

► VERY IMPORTANT! : Do not use the copy/cut/paste functions within this document. Pasting fields will corrupt the application and may result in penalties. You may use links to other cells or other documents but do not paste data from one document or field to another.

► Some fields provide a dropdown of options to select from, indicated by a down arrow that appears when the cell is selected. Click on the arrow to select a value within the dropdown for these fields.

mailto:[email protected]






Market Square IV - Reservation App TOC, printed 1

2018 Low-Income Housing Tax Credit Application For Reservation

TABLE OF CONTENTS

Click on any tab label to be directed to that tab within the application.

TAB DESCRIPTION1. Submission Checklist Mandatory Items, Tabs and Descriptions2. Development Information Development Name and Locality Information3. Request Info Credit Request Type4. Owner Information Owner Information and Developer Experience 5. Site and Seller Information Site Control, Identity of Interest and Seller info6. Team Information Development Team Contact information7. Rehabilitation Information Acquisition Credits and 10-Year Look Back Info8. Non Profit Non-Profit Involvement, Right of First Refusal9. Structure Building Structure and Units Description

10. Utilities Utility Allowance

11. EnhancementsBuilding Amenities above Minimum Design Requirements

12. Special Housing Needs 504 Units, Sect. 8 Waiting List, Rental Subsidy13. Unit Details Set Aside Selection and Breakdown14. Budget Operating Expenses15. Project Schedule Actual or Anticipated Development Schedule16. Hard Costs Development Budget: Contractor Costs

17. Owner's CostsDevelopment Budget: Owner's Costs, Developer Fee, Cost Limits

18. Eligible Basis Eligible Basis Calculation

19. Sources of FundsConstruction, Permanent, Grants and Subsidized Funding Sources

20. Equity Equity and Syndication InformationGap Calculation Credit Reservation Amount Needed

21. Cash Flow Cash Flow Calculation22. BINs BIN by BIN Eligible Basis24. Owner Statement Owner Certifications25. Scoresheet Self Scoresheet Calculation26. Development Summary Summary of Key Application Points27. Efficient Use of Resources Calculation of Score28. Efficient Use of Resources - TE Bonds Calculation of Score

Market Square IV - Reservation App Submission Checklist, printed 1


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

X Scanned Copy of the Signed Tax Credit Application with Attachments (excluding market study and plans & specifications) (MANDATORY)

X Electronic Copy of the Market Study (MANDATORY - Application will be disqualified if study is

not submitted with application)X Electronic Copy of the Plans (MANDATORY)

X Electronic Copy of the Specifications (MANDATORY) Electronic Copy of the Unit By Unit Work Writeup (MANDATORY if rehab) Electronic Copy of Appraisal (MANDATORY if acquisition credits requested)

X $1,000 Application Fee (MANDATORY)

Tab A: Documentation of Development Location:X A.1 Revitalization Area CertificationX A.2 Location Map

A.3 Surveyor's Certification of Proximity To Public TransportationX Tab B: Partnership or Operating Agreement, including chart of ownership structure with percentage

of interests (MANDATORY)

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

X Tab D: Principal's Previous Participation Certification (MANDATORY)

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

The following documents need not be submitted unless requested by VHDA: -Nonprofit Articles of Incorporation -IRS Documentation of Nonprofit Status -Joint Venture Agreement (if applicable) -For-profit Consulting Agreement (if applicable)

X Tab F: Architect's Certification (MANDATORY)

Tab G: Relocation Plan (MANDATORY, if tenants are displaced)

X Tab H: PHA / Section 8 Notification LetterTab I: Locality CEO Response LetterTab J: Homeownership Plan

X Tab K: Site Control Documentation & Most Recent Real Estate Tax Assessment (MANDATORY)

Tab L: Plan of Development Certification LetterX Tab M: Zoning Certification Letter (MANDATORY)

Tab N: Copies of 8609s To Certify Developer Experience and Partnership agreementsX Tab O: Resumés , Org Chart and List of LIHTC Developments (Schedule A) (MANDATORY)

X Tab P: Plans and Specifications and UxU Work Write-Up (MANDATORY)

X Tab Q: Documentation of Rental AssistanceX Tab R: Documentation of Operating Budget

Tab S: Supportive Housing CertificationX Tab T: Funding Documentation

Tab U: Documentation to Request Exception to Restriction-Pools With Little/No Increase in Rent Burdened Population

X Tab V: Nonprofit or LHA Purchase Option or Right of First RefusalX Tab W: Attorney's Opinion (MANDATORY)

Tab X: (Reserved)X Tab Y: Marketing Plan for units meeting accessibility requirements of HUD section 504

Please indicate if the following items are included with your application by putting an 'X' in 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 may be reserved for the development.

Market Square IV - Reservation App DEV INFO, printed 1


VHDA TRACKING NUMBER 2018-C-19A. GENERAL INFORMATION ABOUT PROPOSED DEVELOPMENT Application Date: 3/16/2018

1. Development Name:

2. Address (line 1):Address (line 2):City: State: VA Zip:

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

(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

5. The site overlaps one or more jurisdictional boundaries………………...…… FALSEIf true, what other City/County is the site located in besides reponse to #4?.......

6. Development is located in the census tract:

7. Development is located in a Qualified Census Tract……………………………… TRUE

8. Development is located in a Difficult Development Area…………………….. FALSE

9. Development is located in a Revitalization Area……………………… TRUE (If True, Action: Provide required form in TAB A)

10. Development is located in a census tract with a poverty rate of?........................... 3% 10% 12%FALSE FALSE

Enter only Numeric Values below:11. Congressional District: 7

Planning District: 15State Senate District: 16 Link to VHDA's HOME - Select Virginia LIHTC Reference Map

State House District: 70

12. ACTION: Provide Location Map (TAB A)

13. Development Description: In the space provided below, give a brief description of the proposed development

Chesterfield County

Click on the following link for assistance in determining the districts related to this property:

FALSE

1004.06

Market Square IV is a 60 unit new construction senior development in Chesterfield County at the Winchester Greens campus. The exterior will be 80% brick and 20% Hardiplank siding. The project will have access to various existing commercial and community health amenities.

Market Square IV

7400 Taw Street

North Chesterfield

00.00000 00.00000

23237

http://vhda.maps.arcgis.com/

Market Square IV - Reservation App DEV INFO, printed 2


VHDA TRACKING NUMBER 2018-C-19A. GENERAL INFORMATION ABOUT PROPOSED DEVELOPMENT Application Date: 3/16/2018

14. Local Needs and Support

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

Chief Executive Officer's Name: Chief Executive Officer's Title: Phone:Street Address:City: State: VA Zip: 23832

Name and title of local official you have discussed this project with who could answer questionsfor the local CEO:

b. If the property overlaps another jurisdiction, please fill in the following:Chief Executive Officer's Name: Chief Executive Officer's Title: Phone:Street Address:City: State: Zip:

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

804-748-1211Dr. Joseph P CaseyCounty Administrator

NA

9901 Lori RoadChesterfield

Darla Orr - Planning and Special Projects Manager

Market Square IV - Reservation App Request Info, printed 1


B. RESERVATION REQUEST INFORMATION

1. Requesting Credits From:

a. If requesting 9% Credits, select credit pool: Non-Profit Poolorb. If requesting Tax Exempt Bonds, select development type: N/A

2. Type(s) of Allocation/Allocation Year Carryforward Allocation

Definitions of types: a.

b.

3. Select Building Allocation type: New Construction

4. Planned Combined 9% and 4% Developments TRUE

Listed below are the units planned for each allocation request (which cannot be changed or 9% Credits will be lost): Total Units within 9% allocation request? 60Total Units within 4% Tax Exempt allocation Request? 105

Total Units: 165

% of units in 4% Tax Exempt Allocation Request: 63.64%

5. Extended Use Restriction

Must Select One: 30

Definition of selection:

Carryforward Allocation means all of the buildings in the development are expected to be placed in service within two years after the end of this calendar year, 2018, but the owner will have more than 10% basis in development before the end of twelve months following allocation of credits. For those buildings, the owner requests a carryforward allocation of 2018 credits pursuant to Section 42(h)(1)(E).

Regular Allocation means all of the buildings in the development are expected to be placed in service this calendar year, 2018.

A site plan has been submitted with this application indicating two developments on the same or contiguous site. One development relates to this 9% allocation request and the remaining development will be a 4% tax exempt bond application which will be submitted by December 31, 2018. (25, 35 or 45 pts)

Note regarding Type = Acquisition and Rehabilitiation: Even if you acquired a building this year and "placed it in service" for the purpose of the acquisition credit, you cannot receive its acquisition 8609 form until the rehab 8609 is issued for that building.

Development will be subject to the standard extended use agreement which permits, under certain circumstances early termination of the extended use period (after the mandatory 15-year compliance period.)

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.

Market Square IV - Reservation App Owner Info, printed 1


C. OWNERSHIP INFORMATION

1. Owner Information: Must be an individual or legally formed entity.

Name:

Contact: M/M Mr. First: MI: S Last:

Address:

City: St. VA Zip:

Phone: Ext. 112 Fax:

Email address:

Federal I.D. No. (If not available, obtain prior to Carryover Allocation.)

Select type of entity: Formation State: VA

Additional Contact: Please Provide Name, Email and Phone number.

ACTION: a. Provide Owner's organizational documents (e.g. Partnership agreements) (Mandatory TAB B)b. Provide Certification from Virginia State Corporation Commission (Mandatory TAB C)

2. Principal(s) of the General Partner: List names of individuals and ownership interest.Names ** Phone Type Ownership % OwnershipPAD XVIII, LLC Managing Member 100.000%Better Housing Coalition (Greta J. Harris, CEO) 100% Owner of Man 100.000%

0.000%0.000%0.000%0.000%0.000%

The above should include 100% of the GP or LLC member interest.

** These should be the names of individuals who make up the General Partnership, not simply the names of entities which may comprise those components.

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 exactly match the owner name listed on the Virginia State Corporation Commission Certification.

Bolton

804-644-0546

Richmond

(804) 644-1057

Limited Liability Company

John

(804) 644-0546

23 West Broad Street, STE 100

23220

Market Square IV, LLC

804-644-0546

Bernard Rogers, [email protected], 804-644-0546

[email protected]

Market Square IV - Reservation App Owner Info, printed 2


C. OWNERSHIP INFORMATION

ACTION: a. Provide Principals' Previous Participation Certification (Mandatory TAB D)b.

3. Developer Experience: Provide evidence that the principal or principals of the controlling general partner or managing member for the proposed development have developed:

a. as a controlling general partner or managing member, (i) at least three tax credit developments that contain at least three times the number of housing units in the proposed development or (ii) at least six tax credit developments. ……………………….…………………………………………….………..… TRUE

b. at least three deals as principal and have at $500,000 in liquid assets………………………………………… FALSEAction: Must be included on the VHDA Experienced LIHtC Developer List or provideAudited Financial Statements and copies of 8609s (Tab N)

c. The development's principal(s), as a group or individually, have developed as controlling general

partner or managing member, at least one tax credit development that contains at least the same number of units of this proposed development (can include Market units). ………………………………… FALSE

Action: Must provide copies of 8609s and partnership agreements (Tab N)

Action: Must be included on VHDA Experienced LIHTC Developer List or provide copies of 8609s and partnership agreements (Tab N)

Provide resumés of each principal, chart of ownership structure (Org Chart) and list of all LIHTC Developments. (Mandatory at TAB O)

Market Square IV - Reservation App Site & Seller, printed 1


D. SITE CONTROL

1. Type of Site Control by Owner:

Applicant controls site by (select one and provide documentation - Mandatory TAB K)

Select Type:

Expiration Date:

FALSE ……. There is more than one site for development and more than one form of site control.

(If True, provide documentation for each site specifying number of existing buildings on the site, if any, type of control of each site, and applicable expiration date of stated site control. A site control document is required for each site (Tab K).)

2. Timing of Acquisition by Owner:Only one of the following statement should be True.

FALSE ……. Owner already controls site by either deed or long-term lease.

TRUE ……. 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……………………...……… 12/1/2019 .

FALSE ……. There is more than one site for development and more than one expected date of acquisition by Owner.

(If True, provide documentation for each site specifying number of existing buildings on the site, if any, and expected date of acquisition of each site by Owner (Tab K).)

Option

12/1/2019

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. (For 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 previously, 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.

In the Option or Purchase contract - Any contract for the acquisition of a site with an existing residential property may not require an empty building as a condition of such contract, unless relocation assistance is provided to displaced households, if any, at such level required by VHDA. See QAP for further details.

Market Square IV - Reservation App Site & Seller, printed 2


D. SITE CONTROL3. Seller Information:

Name:

Address:

City: St.: VA Zip: 23220

Contact Person: Phone:

There is an identity of interest between the seller and the owner/applicant……………………… FALSE

If above statement is TRUE, complete the following:

Principal(s) involved (e.g. general partners, controlling shareholders, etc.)Names Phone Type Ownership % Ownership

0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Richmond Affordable Housing

23 West Broad Street, Ste 100

Richmond

Bernard Rogers (804) 644-0546

Market Square IV - Reservation App Team Info, printed 1


E. DEVELOPMENT TEAM INFORMATION

Complete the following as applicable to your development team. Provide Contact and Firm Name.

1. Tax Attorney: This is a Related Entity. FALSEFirm Name:Address:Email: Phone:

2. Tax Accountant: This is a Related Entity. FALSEFirm Name:Address:Email: Phone:

3. Consultant: This is a Related Entity. FALSEFirm Name: Role:Address:Email: Phone:

4. Management Entity: Jon Barrett This is a Related Entity. TRUEFirm Name: Better Housing Coalition ManagementAddress: 23 West Broad, Suite 100 / PO Box 12117, Richmond, Virginia 23241Email: [email protected] Phone:

5. Contractor: This is a Related Entity. FALSEFirm Name:Address:Email: Phone:

6. Architect: Megan Shope This is a Related Entity. FALSEFirm Name: Winks Snowa ArchitectsAddress: 2119 Email: [email protected] Phone:

7. Real Estate Attorney: Erik Hoffman This is a Related Entity. FALSEFirm Name: Klein Hornig LLP Address: 1325 G Street NW | Suite 770 | Washington DC 20005 Email: [email protected] Phone:

8. Mortgage Banker: Charles Wilson This is a Related Entity. FALSEFirm Name: Virginia Capital Advisors, Inc.Address: 103 Archers Court, Williamsburg VA 23185Email: [email protected] Phone:

9. Other: This is a Related Entity. FALSEFirm Name: Role:Address:Email: Phone:

804-643-6196

202 842 0125

757-434-9002

804-644-0546 x133

Market Square IV - Reservation App Rehab Info, printed 1


F. REHAB INFORMATION

1. Acquisition Credit Informationa. Credits are being requested for existing buildings being acquired for development………………… FALSE

If no credits are being requested for existing buildings being acquired for the development, skip this tab.

b. The development is listed on the RD 515 Rehabilitation Priority List?........................................ FALSE

c. This development is an existing RD or HUD S8/236 development…………………………………………… FALSEAction: (If True, provide required form in TAB Q)

i. Applicant agrees to waive all rights to any developer's fee or other fees associated with acquisition and/or rehab………………… FALSE

ii. Applicant has obtained a waiver of this requirement from VHDAprior to the application submission deadline……………….………….. FALSE

2. Ten-Year Rule For Acquisition Credits

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

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

i Subsection (I)……………………… FALSE

ii. Subsection (II)……………………… FALSE

iii. Subsection (III)…………...……… FALSE

iv. Subsection (IV)…………………… FALSE

v. Subsection (V)……………..……… FALSE

c. The 10-year rule in IRC Section 42 (d)(2)(B) for all buildings does not apply pursuant to IRC Section 42(d)(6)…………..…… FALSE

d. There are different circumstances for different buildings……………………………………… FALSEAction: (If True, provide an explanation for each building in Tab A)

3. Rehabilitation Credit Information

a. Credits are being requested for rehabilitation expenditures.…………………….…………… FALSEIf no credits are being requested for rehabilitation expenditures, go on to Part 4

Note: 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.

Market Square IV - Reservation App Rehab Info, printed 2


F. REHAB INFORMATION

b. Minimum Expenditure Requirements

i. All buildings in the development satisfy the rehab costs per unit requirement of IRCSection 42(e)(3)(A)(ii)…………………………………………………………… FALSE

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

iii. All buildings in the development qualify for the IRC Section 42(f)(5)(B)(ii)(II) exception……………………………………………………………………………… FALSE

iv. There are different circumstances for different buildings…………………………… FALSEAction: (If True, provide an explanation for each building in Tab A)

4. Request For Exception

a. The proposed new construction development (including adaptive reuse and rehabilitation thatcreates additional rental space) is subject to an assessment of up to minus 20 pointsfor being located in a pool identified by the Authority as a pool with little or no increase in rent burdened population…………………………………………………………… FALSE

b. Applicant seeks an exception to this restriction in accordance with one of the following provisions under 13VAC10-180-60:

i. Proposed development is specialized housing designed to meet special needs that cannot readily be addressed utilizing existing residential structures…………………….. FALSE

ii. Proposed development is designed to serve as a replacement for housing being demolished through redevelopment………………...…………...………………………… FALSE

iii. Proposed development is housing that is an integral part of a neighborhood revitalization project sponsored by a local housing authority………….………… FALSE

Action: If any of 4 (b) responses are true, provide documentation at Tab U.

Market Square IV - Reservation App Non Profit, printed 1


G. NONPROFIT INVOLVEMENT

1.

TRUE a. Be authorized to do business in Virginia.TRUE b. Be substantially based or active in the community of the development.TRUE c.

TRUE d.

TRUE e. Not be affiliated with or controlled by a for-profit organization.TRUE f. Not have been formed for the principal purpose of competition in the Non-Profit Pool.TRUE g.

2. All Applicants: To qualify for points under the ranking system, the nonprofit's involvement need notnecessarily satisfy all of the requirements for participation in the nonprofit tax credit pool.

A. Nonprofit Involvement (All Applicants)

There is nonprofit involvement in this development…………… TRUE (If false, go on to part III.)

Action: If there is nonprofit involvement, provide completed Non-Profit Questionnaire (Mandatory TAB E).

B. Type of involvement: Nonprofit meets eligibility requirement for points only, not pool………………………… FALSE

or Nonprofit meets eligibility requirements for nonprofit pool and points……………… TRUE

C. Identity of Nonprofit (All nonprofit applicants):The nonprofit organization involved in this development is:

Name: (Please fit NP name within available space)

Contact Person:

Street Address:

City: State: VA Zip: 23220

Phone: Extension: 112 Contact Email:

Applicant

John Bolton

Richmond

j.bolton@betterhousingco (804) 644-0546

Better Housing Coalition

23 West Broad St. Suite 100

Not have any staff member, officer or member of the board of directors materially participate, directly or indirectly, in the proposed development as a for-profit entity.

Applications for 9% Credits - Section must be completed in order to compete in the nonprofit tax credit pool.

All Applicants - Section must be completed for points for nonprofit involvement under the ranking system.

Own, either directly or through a partnership or limited liability company, 100% of the general partnership or managing member interest.

Materially participate in the development and operation of the development throughout the compliance period (i.e., regular, continuous and substantial involvement)in the operation of the development throughout the Compliance Period.

Tax Credit Nonprofit Pool Applicants: To qualify for the nonprofit pool, an organization (described in IRC Section 501(c)(3) or 501(c)(4) and exempt from taxation under IRC Section 501(a)) should answer the following questions as TRUE:

Market Square IV - Reservation App Non Profit, printed 2


G. NONPROFIT INVOLVEMENT

D. Percentage of Nonprofit Ownership (All nonprofit applicants):Specify the nonprofit entity's percentage ownership of the general partnership interest: 100.0%

3. Nonprofit/Local Housing Authority Purchase Option/Right of First Refusal

A. TRUE After the mandatory 15-year compliance period, a qualified nonprofit or local housing authority will have the option to purchase or the right of first refusal to acquire the development for a price not to exceed the outstanding debt and exit taxes. Such debtmust be limited to the original mortgage(s) unless any refinancing is approved by thenonprofit.

Action: Provide Option or Right of First Refusal in Recordable Form (TAB V)Provide Nonprofit Questionnaire (if applicable) (TAB E)

Name of qualified nonprofit:Date of Recorded Form: TBDTitle of Recorded Form provided:

or indicate true if Local Housing Authority FALSEName of Local Housing Authority

2. FALSE A qualified nonprofit or local housing authority submits a homeownership plan committingto sell the units in the development after the mandatory 15-year compliance period totenants whose incomes shall not exceed the applicable income limit at the time of their initial occupancy.

Action: Provide Homeownership Plan (TAB J)


NA

Right of First Refusal and Purchase Optio

Market Square IV - Reservation App Structure, printed 1


H. STRUCTURE AND UNITS INFORMATION

1. General Informationa. Total number of all units in development 60 bedrooms 69

Total number of rental units in development 60 bedrooms 69Number of low-income rental units 60 bedrooms 69Percentage of rental units designated low-income 100.00000%

b. Number of new units:………………..…..……… 60 bedrooms 69Number of adaptive reuse units: …………… 0 bedrooms 0Number of rehab units:………………………… 0 bedrooms 0

c. If any, indicate number of planned exempt units (included in total rental units)……………….………………… 0

d. Total Floor Area For The Entire Development……………………………..…………………………… 50,851.25 (Sq. ft.)

e. Unheated Floor Area (i.e. Breezeways, Balconies, Storage)……………………………………… 595.25 (Sq. ft.)

f. Nonresidential Commercial Floor Area (Not eligible for funding)…………………………………… 0.00

g. Total Usable Residential Heated Area…………………………………………………………………….. 50,256.00 (Sq. ft.)

h. Percentage of Net Rentable Square Feet Deemed To Be New Rental Space……………… 100.00%

i. Exact area of site in acres ……………………… 2.836

j. Locality has approved a final site plan or plan of development…………….................... FALSEIf True, Provide required documentation (TAB L).

k. Requirement as of 2016: Site must be properly zoned for proposed development. ACTION: Provide required zoning documentation (MANDATORY TAB M )

l. Property is eligible for Historic Rehab credits………………………………………………………….. FALSEDefinition:The structure is historic, by virtue of being listed individually in the National Register of Historic Places, or due to its location 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.



H. STRUCTURE AND UNITS INFORMATION

2. UNIT MIXa. Specify the average size and number per unit type (as indicated in the Architect's Certification):

Supportive Housing 0.00 SF 0 01 Story Eff - Elderly 0.00 SF 0 01 Story 1BR - Elderly 0.00 SF 0 01 Story 2BR - Elderly 0.00 SF 0 0Eff - Elderly 0.00 SF 0 01BR Elderly 798.18 SF 51 512BR Elderly 1061.00 SF 9 9Eff - Garden 0.00 SF 0 01BR Garden 0.00 SF 0 02BR Garden 0.00 SF 0 03BR Garden 0.00 SF 0 04BR Garden 0.00 SF 0 02+ Story 2BR Townhouse 0.00 SF 0 02+ Story 3BR Townhouse 0.00 SF 0 02+ Story 4BR Townhouse 0.00 SF 0 0

60 60

3. Structuresa. Number of Buildings (containing rental units)………………………… 1b. Age of Structure:…………………………..………… 0 yearsc. Number of stories:………………………………… 3

d. The development is a scattered site development…………………… FALSE

e. Commercial Area Intended Use: NA

f. Project consists primarily of : (Only One Option Below Can Be True)

i. Low Rise Building(s) - (1-5 stories with any structural elements made of wood)………………………………. TRUEii. Mid Rise Building(s) - (5-7 stories with no structural elements made of wood)…...…………………………. FALSEiii. High Rise Building(s) - (8 or more stories with no structural elements made of wood)………………….. FALSE

Note: Please be sure to enter the number of units in the appropriate unit category. If not, you will find errors on the self scoresheet.

Note: Average sq foot should include

the prorata of common space.

Unit Type Average Sq Foot # of LIHTC UnitsTotal Rental

Units



H. STRUCTURE AND UNITS INFORMATIONg. Indicate True for all development's structural features that apply:

i. Row House/Townhouse FALSE v. Detached Single-family FALSE

ii. Garden Apartments TRUE vi. Detached Two-family FALSE

iii. Slab on Grade TRUE vii. Basement FALSE

iv. Crawl space FALSE

h. Property contains an elevator(s). TRUEIf true, # of Elevators. 1Elevator Type (if known)

i. Roof Type Combinationj. Construction Type Framek. Primary Exterior Finish

4. Site Amenities (indicate all proposed)a. Business Center FALSE f. Limited Access TRUEb. Covered Parking FALSE g. Playground FALSEc. Exercise Room TRUE h. Pool FALSEd. Gated access to Site FALSE i. Rental Office TRUEe. Laundry facilities TRUE j. Sports Activity Court FALSE

k. Other:

h. Describe Community Facilities:

i. Number of Proposed Parking Spaces……… 75Is Parking Shared? ………………………………… FALSE

j. This proposal seeks to qualify for points associated with proximity to public transportation.If True, Provide required documentation (TAB A). FALSE

Leasing Office. Community Center. Outdoor Passive Recreation area. O

Brick



H. STRUCTURE AND UNITS INFORMATION5. Plans and Specifications

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

i. A location map with property clearly defined.ii. Sketch plan of the site showing overall dimensions of all 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.

iii. Sketch plans of all building(s) reflecting overall dimensions of:a. Typical floor plan(s) showing apartment types and placementb. Ground floor plan(s) showing common areasc. Sketch floor plan(s) of typical dwelling unit(s)d. Typical wall section(s) showing footing, foundation, wall and floor structure Notes must indicate basic materials in structure, floor and exterior finish.

In addition: a unit-by-unit work write up is required documentation for rehabilitation properties.Only one of the following statement should be True.

i. Plans and specifications/unit-by-unit work write up provided (TAB P). ………………………… FALSEOR ii.

TRUE

6. Market Study Data:Obtain the following information from the Market Study conducted in connection with thistax credit application:

Project Wide Capture Rate - LIHTC Units 8.70%Project Wide Capture Rate - Market Units NAProject Wide Capture Rate - All Units 8.70%Project Wide Absorption Period (Months) 0

NOTE: All developments must meet VHDA's Minimum Design and Construction Requirements. By signing and submitting the Application for Reservation of LIHTC, the applicant certifies that the proposed project budget, plans & specifications and work write-ups incorporate all necessary elements to fulfill these requirements.

Plans and specifications/unit-by-unit work write up will be submitted separately………..………………………...………………………………………………………………………………

Market Square IV - Reservation App Utilities, printed 1


I. UTILITIES

1. Describe the Heating/AC System:

2. Services Included:

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 Tenant 0 14 17 0 0Air Conditioning Tenant 0 8 11 0 0Cooking Tenant 0 5 8 0 0Lighting Tenant 0 20 28 0 0Hot Water Tenant 0 13 17 0 0Water Tenant 0 23 33 0 0Sewer Tenant 0 35 50 0 0Trash Owner 0 0 0 0 0

Total utility allowance for costs paid by tenant $0 $118 $164 $0 $0

3. The following sources were used for Utility Allowance Calculation (Provide documentation TAB Q).

a. FALSE HUD d. TRUE Local PHA

b. FALSE Utility Company (Estimate) e. FALSE Other:

c. FALSE Utility Company (Actual Survey)

The HVAC system is a split system heat pump with air cycler.

Warning: The VHDA housing choice voucher program utility schedule shown on VHDA.com should not be used unless directed to do so by the local housing authority.

ElectricElectricElectricElectricElectric

Market Square IV - Reservation App Enhancements, printed 1


J. ENHANCEMENTS

Indicate True for the following items that apply to the proposed project:ACTION: Provide Architect Certification (Mandatory TAB F)

1. For any project, upon completion of construction/rehabilitation: TRUE a. A community/meeting room with a minimum of 749 square feet is provided.

80.00% b. i

20.00% b.ii Percentage of exterior walls covered by fiber cement board.

TRUE c.

TRUE d.

TRUE e.

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

TRUE g. Each bathroom contains only of WaterSense labeled faucets and showerheads.

TRUE h. Each unit is provided with the necessary infrastructure for high-speed internet service.

TRUE i.

TRUE j. Each bathroom is equipped with a WaterSense labeled toilet.

TRUE k.

TRUE l.

TRUE m. Cooking surfaces are equipped with either fire prevention or fire suppression features.

TRUE n. All units will be equipped with electrical and plumbing hook-ups for a dehumidification system.

FALSE o.

For new construction only, each full bathroom is equipped with EPA Energy Star qualified bath vent fan with duct size per manufacturer requirements or continuous exhaust as part of a dedicated outdoor air system with humidity control

All kitchen and laundry appliances (except range hoods) meet the EPA's Energy Star qualified program

All water heaters have an energy factor greater than or equal to 67% for gas water heaters; or greater than or equal to 93% for electric water heaters; or any centralized commercial system that has an efficiency performance rating greater than or equal to 95%; or any solar thermal system that meets at least 60% of the development's domestic hot water load.

All windows and any glass doors are Energy Star labeled for the North-Central zone; or are NFRC labeled with a maximum U-factor of 0.27 and a maximum SHGC of 0.40

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.

The development currently has or the application provides for the installation of continuous R-3 or higher wall sheathing insulation. (For Rehabs: ONLY select True if existing brick and/or siding will be removed and replaced.)

Each unit is equipped with integrated per unit dehumidification with humidistat that does not require manual disposal of water.

Percentage of brick or other similar low-maintenance material approved by the Authority covering the exterior walls.

Market Square IV - Reservation App Enhancements, printed 2


J. ENHANCEMENTS2. For all developments exclusively serving elderly tenants upon completion of construction/rehabilitation:

TRUE a. All cooking ranges will have front controls.

TRUE b. All units will have an emergency call system.

TRUE c. All full bathrooms will have an independent or supplemental heat source.

TRUE d. All entrance doors have two eye viewers, one at 42" and the other at standard height.

3. Earthcraft or LEED Development Certification

(15 Points) (45 Points)FALSE ………LEED Silver Certification FALSE …LEED Platinum CertificationFALSE ………Earthcraft Certification

(10 points)(35 Points) TRUE …

FALSE …………LEED Gold CertificationTRUE …………Earthcraft Gold Certification

Action:

4. Universal Design - Units Meeting Universal Design Standards

TRUE a.

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

100% % of Total Rental Units

5. FALSE Market-rate units' amenities are substantially equivalent to those of the low income units. If not, please explain: NA

If seeking any points associated with LEED or Earthcraft certification, provide appropriate documentation at TAB F.

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

Applicant agrees to obtain an EarthCraft or Earthcraft Gold certification and perform tenant utility monitoring and benchmarking.

Applicant agrees to obtain Earthcraft or US Green Building Council LEED certification prior to issuance of IRS Form 8609. The proposed architect will certify that the development's design will meet the criteria for such certification, provided that the proposed architect is on the Authority's list of LEED/EarthCraft certified architects.

Market Square IV - Reservation App Sp. Hsg Needs, printed 1


K. SPECIAL HOUSING NEEDS

1. Accessibility: Indicate True for the following point categories, as appropriate.Action: Provide appropriate documentation (Tab Y)

FALSE a.

Documentation from source of assistance must be provided with the application. Note: Subsidies may apply to any units, not only those built to satisfy Section 504.(60 points)

TRUE b.

TRUE c.

FALSE d.

Rehabilitation Act.

Any development in which (i) the greater of 5 units or 10% of units will be assisted by HUD project-based vouchers (as evidenced by the submission of a letter satisfactory to the Authority from an authorized public housing authority (PHA) that the development meets all prerequisites for such assistance), or another form of documented and binding federal project-based rent subsidies in order to ensure occupancy by extremely low-income persons. Locality project based rental subsidy meets the definition of state project based rental subsidy;

(ii) will conform to HUD regulations interpreting the accessibility requirements of section 504 of the Rehabilitation Act; and be actively marketed to persons with disabilities as defined in the Fair Housing Act in accordance with a plan submitted as part of the application for credits.(iii) above must include roll-in showers, roll under sinks and front control ranges, unless agreed to by the Authority prior to the applicant's submission of its application.

The above development commits to providing first preference on its waiting list to persons with a developmental disability (DD) as confirmed by the Virginia Department of Behavioral Health and Developmental Services for the greater of 5 units or 10% of all units in accordance with the plan submitted as part of the application for credits (25 points).

Any development in which 5% of the units (i) conform to HUD regulations interpreting the accessibility requirements of section 504 of the Rehabilitation Act and (ii) are actively marketed to persons with disabilities as defined in the Fair Housing Act in accordance with a plan submitted as part of this application for credits. (15 points)

Any development in which the greater of 5 units or 10% of the units (i) have rents within HUD’s Housing Choice Voucher (“HCV”) payment standard; (ii) conform to HUD regulations interpreting the accessibility requirements of section 504 of the Rehabilitation Act; and (iii) are actively marketed to persons with disabilities as defined in the Fair Housing Act in accordance with a plan submitted as part of the application for credits (30 points)

For items a,b or d, all common space must also conform to HUD regulations interpreting the




2. Special Housing Needs/Leasing Preference:a. If not general population, select applicable special population:

TRUE Elderly (as defined by the United States Fair Housing Act.)FALSE Persons with Disabilities (must meet the requirements of the Federal

Americans with Disabilities Act) - Accessible Supportive Housing Pool onlyFALSE Supportive Housing (as described in the Tax Credit Manual)

Action: Provide Permanent Supportive Housing Certification (Tab S)

b. The development has existing tenants and a relocation plan has been developed. FALSE

Action: Provide Relocation Plan (Mandatory if tenants are displaced - Tab G)

3. Leasing Preferencesa. Will leasing preference be given to applicants on a public housing waiting list and/or Section 8

waiting list? select: Yes

Organization which holds such waiting list: Richmond Redevelopment & Housing Authority

Contact person: Carol A. Jones Gilbert

Title: Chief Operating Officer

Phone Number

Action: Provide required notification documentation (TAB H) b. Leasing preference will be given to individuals and families with children. FALSE

(Less than or equal to 20% of the units must have of 1 or less bedrooms).

c. Specify the number of low-income units that will serve individuals and families with children byproviding three or more bedrooms: 0% of total Low Income Units 0%

NOTE: Property must utilize a VHDA Certified Management Agent. Proof of managementcertification must be provided before 8609s are issued.

(If True, 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. )

(804) 780-3445




4. Rental Assistance1. Some of the low-income units do or will receive rental assistance……….. FALSE

2. Indicate True if rental assistance will be available:

FALSE Rental Assistance Demonstration (RAD)

FALSE Section 8 New Construction Substantial Rehabilitation

FALSE Section 8 Moderate Rehabilitation

FALSE Section 8 Certificates

FALSE Section 8 Project Based Assistance

FALSE RD 515 Rental Assistance

FALSE Section 8 Vouchers

FALSE State Assistance

FALSE Other:

3. Number of units receiving assistance: 0How many years in rental assistance contract: 0.00Expiration date of contract:There is an Option to Renew……………………..… FALSE

Action: Contract or other agreement provided (TAB Q).

Market Square IV - Reservation App Unit Details, printed 1


L. UNIT DETAILS

1. Set-Aside Election: UNITS SELECTED IN INCOME AND RENT DETERMINE POINTS FOR THE BONUS POINT CATEGORY

Units Provided Per Household Type: Income Levels Rent Levels# of Units % of Units # of Units % of Units

0 0.00% 40% Area Median 6 10.00% 40% Area Median30 50.00% 50% Area Median 24 40.00% 50% Area Median30 50.00% 60% Area Median 30 50.00% 60% Area Median

0 0.00% Non-LMI Units 0 0.00% Non - LMI Units60 100.00% Total 60 100.00% Total

2. Unit Detail FOR YOUR CONVENIENCE, COPY AND PASTE IS ALLOWED WITHIN UNIT MIX GRID

Unit Type (Select One)

Rent Target (Select One)

Number of Units

Number of Units 504 compliant

Net Rentable Square Feet

Monthly Rent Per Unit Total Monthly Rent

Mix 1 1 BR - 1 Bath 40% AMI 3 3 537.62 $463.00 $1,389Mix 2 1 BR - 1 Bath 50% AMI 20 537.62 $600.00 $12,000Mix 3 1 BR - 1 Bath 60% AMI 22 537.62 $700.00 $15,400Mix 4 1 BR - 1 Bath 50% AMI 1 648.02 $600.00 $600Mix 5 1 BR - 1 Bath 60% AMI 3 648.02 $700.00 $2,100Mix 6 1 BR - 1 Bath 50% AMI 2 629.56 $600.00 $1,200Mix 7 2 BR - 2 Bath 40% AMI 3 3 801.88 $533.00 $1,599Mix 8 2 BR - 2 Bath 50% AMI 1 801.88 $700.00 $700Mix 9 2 BR - 2 Bath 60% AMI 5 801.88 $800.00 $4,000

Mix 10 $0Mix 11 $0Mix 12 $0Mix 13 $0Mix 14 $0Mix 15 $0Mix 16 $0Mix 17 $0Mix 18 $0Mix 19 $0Mix 20 $0Mix 21 $0Mix 22 $0Mix 23 $0Mix 24 $0Mix 25 $0Mix 26 $0Mix 27 $0Mix 28 $0Mix 29 $0Mix 30 $0Mix 31 $0

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.

In the following grid, add a row for each unique unit type planned within the development. Enter the appropriate data for both tax credit and market rate units.



L. UNIT DETAILS

Mix 32 $0Mix 33 $0Mix 34 $0Mix 35 $0Mix 36 $0Mix 37 $0Mix 38 $0Mix 39 $0Mix 40 $0Mix 41 $0Mix 42 $0Mix 43 $0Mix 44 $0Mix 45 $0Mix 46 $0Mix 47 $0Mix 48 $0Mix 49 $0Mix 50 $0Mix 51 $0Mix 52 $0Mix 53 $0Mix 54 $0Mix 55 $0Mix 56 $0Mix 57 $0Mix 58 $0Mix 59 $0Mix 60 $0Mix 61 $0Mix 62 $0Mix 63 $0Mix 64 $0Mix 65 $0Mix 66 $0Mix 67 $0Mix 68 $0Mix 69 $0Mix 70 $0Mix 71 $0Mix 72 $0Mix 73 $0Mix 74 $0Mix 75 $0Mix 76 $0Mix 77 $0Mix 78 $0Mix 79 $0Mix 80 $0Mix 81 $0Mix 82 $0Mix 83 $0Mix 84 $0Mix 85 $0Mix 86 $0Mix 87 $0Mix 88 $0Mix 89 $0Mix 90 $0Mix 91 $0



L. UNIT DETAILS

Mix 92 $0Mix 93 $0Mix 94 $0Mix 95 $0Mix 96 $0Mix 97 $0Mix 98 $0Mix 99 $0

Mix 100 $0TOTALS 60 6 5,944.10 $5,696 $38,988

Total Units 60 Net Rentable SF: TC Units 35,261.02MKT Units 0.00

Total NR SF: 35,261.02

Floor Space Fraction (to 7 decimals) 100.00000%

Market Square IV - Reservation App Budget, printed 1


M. OPERATING EXPENSES

Use Whole Numbers Only!Administrative:

1. Advertising/Marketing $4,0402. Office Salaries $79,5663. Office Supplies $8,6014. Office/Model Apartment (type ) $05. Management Fee $22,507

5.09% of EGI $375.12 Per Unit6. Manager Salaries7. Staff Unit (s) (type ) $08. Legal $1,0209. Auditing $4,500

10. Bookkeeping/Accounting Fees $011. Telephone & Answering Service $5,65212. Tax Credit Monitoring Fee $1,67513. Miscellaneous Administrative $8,708

Total Administrative $136,269Utilities14. Fuel Oil $015. Electricity $16,46416. Water $2,65017. Gas $018. Sewer $2,650

Total Utility $21,764Operating:19. Janitor/Cleaning Payroll $020. Janitor/Cleaning Supplies $1,35021. Janitor/Cleaning Contract $022. Exterminating $4,30023. Trash Removal $4,56024. Security Payroll/Contract $4,39525. Grounds Payroll $026. Grounds Supplies $30027. Grounds Contract $8,40028. Maintenance/Repairs Payroll $029. Repairs/Material $6,11830. Repairs Contract $031. Elevator Maintenance/Contract $032. Heating/Cooling Repairs & Maintenance $033. Pool Maintenance/Contract/Staff $034. Snow Removal $75035. Decorating/Payroll/Contract $036. Decorating Supplies $6,00037. Miscellaneous $2,362

Totals Operating & Maintenance $38,535

Market Square IV - Reservation App Budget, printed 2



Taxes & Insurance38. Real Estate Taxes $19,14039. Payroll Taxes $040. Miscellaneous Taxes/Licenses/Permits $041. Property & Liability Insurance $24,78042. Fidelity Bond $043. Workman's Compensation44. Health Insurance & Employee Benefits45. Other Insurance

Total Taxes & Insurance $43,9206544Total Operating Expense $240,488

$4,008 C. 54.43%

Replacement Reserves (Total # Units X $300 or $250 New Const. Elderly Minimum) $15,000

Total Expenses $255,488

Total Operating Expenses Per Unit

Total Operating Expenses as % of EGI

Market Square IV - Reservation App Project Schedule , printed 1


N. PROJECT SCHEDULE

ACTIVITYDATE

1. SITEa. Option/Contract 3/9/2018 John Boltonb. Site Acquisition 2/1/2019 John Boltonc. Zoning Approval 1/24/2018 Lynn McAteerd. Site Plan Approval 1/1/2019 John Bolton

2. Financinga. Construction Loan

i. Loan Application 12/1/2018 John Boltonii. Conditional Commitmentiii. Firm Commitment 1/1/2019 John Bolton

b. Permanent Loan - First Lieni. Loan Application 11/1/2018 John Boltonii. Conditional Commitment iii. Firm Commitment 2/1/2019 John Bolton

c. Permanent Loan-Second Lieni. Loan Applicationii. Conditional Commitmentiii. Firm Commitment

d. Other Loans & Grantsi. Type & Source, Listii. Applicationiii. Award/Commitment

2. Formation of Owner 2/15/2018 Erik Hoffman

3. IRS Approval of Nonprofit Status

4. Closing and Transfer of Property to Owner 2/1/2019 John Bolton

5. Plans and Specifications, Working Drawings 10/1/2018 John Bolton

6. Building Permit Issued by Local Government 2/1/2019 John Bolton

7. Start Construction 3/1/2019 John Bolton

8. Begin Lease-up 12/1/2019 Jon Barrett

9. Complete Construction 3/1/2020 John Bolton

10. Complete Lease-Up 3/1/2020 Jon Barrett

11. Credit Placed in Service Date 4/1/2020 John Bolton

ACTUAL OR ANTICIPATED NAME OF RESPONSIBLE PERSON

Market Square IV - Reservation App Hard Costs , printed 1


O. PROJECT BUDGET - HARD COSTS

Cost/Basis/Maximum Allowable Credit

Complete cost column and basis column(s) as appropriate

Amount of Cost up to 100% Includable inEligible Basis--Use Applicable Column(s):

"30% Present Value Credit" (D)Item (A) Cost (B) Acquisition (C) Rehab/ "70 % Present

New Construction Value Credit"1. Contractor Cost

a. Unit Structures (New) 5,250,000 0 0 5,250,000b. Unit Structures (Rehab) 0 0 0 0c. Non Residential Structures 0 0 0 0d. Commercial Space Costs 0 0 0 0e. Structured Parking Garage 0 0 0 0

Total Structure 5,250,000 0 0 5,250,000f. Earthwork 0 0 0 0g. Site Utilities 0 0 0 0h. Roads & Walks 0 0 0 0i. Site Improvements 0 0 0 0j. Lawns & Planting 0 0 0 0k. Engineering 0 0 0 0l. Off-Site Improvements 0 0 0 0m. Site Environmental Mitigation 0 0 0 0n. Demolition 0 0 0 0o. Site Work 550,000 0 0 550,000p. Other Site work 0 0 0 0

Total Land Improvements 550,000 0 0 550,000Total Structure and Land 5,800,000 0 0 5,800,000

q. General Requirements 460,000 0 0 460,000r. Builder's Overhead 175,000 0 0 175,000

( 3.0% Contract)s. Builder's Profit 175,000 0 0 175,000

( 3.0% Contract)t. Bonds 0 0 0 0u. Building Permits 0 0 0 0v. Special Construction 0 0 0 0w. Special Equipment 0 0 0 0x. Other 1: 0 0 0 0y. Other 2: 0 0 0 0z. Other 3: 0 0 0 0

Contractor Costs $6,610,000 $0 $0 $6,610,000

Must Use Whole Numbers Only!

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.

Market Square IV - Reservation App Owners Costs, printed 1


O. PROJECT BUDGET - OWNER COSTS


"30% Present Value Credit" (D)Item (A) Cost (B) Acquisition (C) Rehab/ "70 % Present

New Construction Value Credit"

2. Owner Costs

a. Building Permit 0 0 0 0b. Architecture/Engineering Design Fee 193,750 0 0 193,750

/Unit)c. Architecture Supervision Fee 62,250 0 0 62,250

/Unit)d. Tap Fees 560,900 0 0 560,900e. Environmental 15,000 0 0 15,000f. Soil Borings 15,000 0 0 15,000g. EarthCraft/LEED 27,000 0 0 27,000h. Appraisal 7,500 0 0 0i. Market Study 7,500 0 0 7,500j. Site Engineering / Survey 100,000 0 0 100,000k. Construction/Development Mgt 0 0 0 0l. Structural/Mechanical Study 0 0 0 0m. Construction Loan 30,000 0 0 30,000

Origination Feen. Construction Interest 75,000 0 0 25,000

( 0.0% for 0 months)o. Taxes During Construction 10,000 0 0 10,000p. Insurance During Construction 10,000 0 0 10,000q. Permanent Loan Fee 30,000 0 0 0

( 0.0% )r. Other Permanent Loan Fees 0 0 0 0s. Letter of Credit 15,000 0 0 15,000t. Cost Certification Fee 15,000 0 0u. Accounting 0 0 0 0v. Title and Recording 25,000 0 0 0w. Legal Fees for Closing 100,000 0 0 50,000x. Mortgage Banker 30,000 0 0 30,000y. Tax Credit Fee 44,392z. Tenant Relocation 0 0 0 0aa. Fixtures, Furnitures and Equipment 50,000 0 0 50,000ab. Organization Costs 0 0 0 0ac. Operating Reserve 205,000 0 0 0ad. Contingency 330,500 0 0 330,500ae. Security 0 0 0 0af. Utilities 0 0 0 0(1) Other* specify: 40,000 0 0 40,000(2) Other* specify: 0 0 0 0(3) Other* specify: 0 0 0 0(4) Other* specify: 0 0 0 0(5) Other * specify: 0 0 0 0(6) Other* specify: 0 0 0 0(7) Other* specify: 0 0 0 0

$3,229

$1,038

MUST USE WHOLE NUMBERS ONLY!

Soft Cost Contingency

Market Square IV - Reservation App Owners Costs, printed 2


O. PROJECT BUDGET - OWNER COSTS

(8) Other* specify: 0 0 0 0(9) Other* specify: 0 0 0 0

(10) Other* specify: 0 0 0 0

Owner Costs Subtotal (Sum 2A..2(10)) $1,998,792 $0 $0 $1,571,900

Subtotal 1 + 2 $8,608,792 $0 $0 $8,181,900(Owner + Contractor Costs)

3. Developer's Fees 500,000 0 0 500,000

4. Owner's Acquisition CostsLand 0Existing Improvements 0 0Subtotal 4: $0 $0

5. Total Development CostsSubtotal 1+2+3+4: $9,108,792 $0 $0 $8,681,900

If this application seeks rehab credits only, in which there is no acquisition and no change in ownership, enter the greater of appraised value or tax assessment value here:

$0 Land(Provide documentation at Tab K) $0 Building

Maximum Developer Fee:

Proposed Development's Cost per Unit:

Applicable Cost Limit:

$151,813

$249,754

$1,063,055

Market Square IV - Reservation App Elig Basis, printed 1


P. ELIGIBLE BASIS CALCULATION


"30 % Present Value Credit"(C) Rehab/ (D)

New "70 % PresentItem (A) Cost (B) Acquisition Construction Value Credit"

1. Total Development Costs 9,108,792 0 0 8,681,900

2. Reductions in Eligible Basis

a. Amount of federal grant(s) used to finance 0 0 0qualifying 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

3. Total Eligible Basis (1 - 2 above) 0 0 8,681,900

4. Adjustment(s) to Eligible Basis (For non-acquisition costs in eligible basis)

a. For QCT or DDA (Eligible Basis x 30%) 0 2,604,570State Designated Basis Boosts:b. For Revitalization or Supportive Housing (Eligible Basis x 30%) 0 0c. For Earthcraft or LEED Certification (Eligible Basis x 5% or 10%) 0

Total Adjusted Eligible basis 0 11,286,470

5. Applicable Fraction 100.00000% 100.00000% 100.00000%

6. Total Qualified Basis 0 0 11,286,470(Eligible Basis x Applicable Fraction)

7. Applicable Percentage 0.00% 0.00% 9.00%(Beginning with 2016 Allocations, use the standard 9% rate.)(For tax exempt bonds, use the most recently published rates.)

8. Maximum Allowable Credit under IRC §42 $0 $0 $1,015,782(Qualified Basis x Applicable Percentage)(Must be same as BIN total and equal to or less $1,015,782than credit amount allowed) Combined 30% & 70% P. V. Credit

Market Square IV - Reservation App Sources, printed 1


Q. SOURCES OF FUNDS

Action: Provide Documentation for all Funding Sources at Tab T

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

Date of Date of Amount of

Source of Funds Application Commitment Funds Name of Contact Person1.2.3.

Total Construction Funding: $0

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

(Whole Numbers only) Interest AmortizationDate of Date of Amount of Annual Debt Rate of Period

Source of Funds Application Commitment Funds Service Cost Loan IN YEARS1. VHDA Taxable 11/1/2018 2/1/2019 $1,456,568 $93,864 5.50% 35.00 35.002. VHDA REACH 11/1/2018 2/1/2019 $1,200,000 $55,017 2.95% 35.00 35.003. VHDA Flex 11/1/2018 2/1/2019 $185,280 $7,308 1.95% 35.00 35.004.5. BHC - Community Foundation $185,2806.7. BHC - Sponsor Note $564,7208.9.10.

Total Permanent Funding: $3,591,848 $156,189

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

Date of Date of Amount ofSource of Funds Application Commitment Funds Name of Contact Person

1.2.3.4.5.6.

Total Permanent Grants: $0

Term of Loan

(years)



Q. SOURCES OF FUNDS

4. Subsidized FundingDate of Amount of

Source of Funds Commitment Funds1. The Community Foundation - Grant 3/1/2018 $185,2802.3. Land Donation 3/8/2018 $370,6004.5.

Total Subsidized Funding $555,880

5. Recap of Federal, State, and Local FundsPortions of the sources of funds described above for the development are financed directly or indirectly with Federal, State, or Local Government Funds….…………………………. TRUE

If above is True, then list the amount of money involved by all appropriate types.

Below-Market Loans Market-Rate Loans

a. Tax Exempt Bonds $0 a. Taxable Bonds $1,456,568b. RD 515 $0 b. Section 220 $0c. Section 221(d)(3) $0 c. Section 221(d)(3) $0d. Section 312 $0 d. Section 221(d)(4) $0e. Section 236 $0 e. Section 236 $0f. VHDA SPARC/REACH $1,385,280 f. Section 223(f) $0g. HOME Funds $0 g. Other: $0h. Other: $0

i. Other: $0

Grants* Grants

a. CDBG $0 c. Stateb. UDAG $0 d. Local

e. Other:

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



Q. SOURCES OF FUNDS

6. For Transactions Using Tax-Exempt Bonds Seeking 4% Credits:For purposes of the 50% Test, and based only on the data entered to thisapplication, the portion of the aggregate basis of buildings and land financed withtax-exempt funds is: N/A

7. Some of the development's financing has credit enhancements………………….……………………... FALSEIf True, list which financing and describe the credit enhancement:

8. Other Subsidies Action: Provide documentation (Tab Q)a. FALSE Real Estate Tax Abatement on the increase in the value of the development.

b. FALSE New project based subsidy from HUD or Rural Development for the greater of 5or 10% of the units in the development.

c. FALSE Other

9. A HUD approval for transfer of physical asset is required…………………………………… FALSE

Market Square IV - Reservation App Equity , printed 1


R. EQUITY

1. Equity a. Portion of Syndication Proceeds Attributable to Historic Tax Credit

Amount of Federal historic credits $0 x Equity % 0% = $0Amount of Virginia historic credits $0 x Equity % 0% = $0

b. Equity that Sponsor will Fund:i. Cash Investment $0ii. Contributed Land/Building $0iii. Deferred Developer Fee $0 (Note: Deferred Developer Fee cannot be negative.) iv. Other: $0

Equity Total $0

2. Equity Gap Calculationa. Total Development Cost $9,108,792

b. Total of Permanent Funding, Grants and Equity - $3,591,848

c. Equity Gap $5,516,944

d. Developer Equity - $555

e. Equity gap to be funded with low-income tax credit proceeds $5,516,389

3. Syndication Information (If Applicable)a. Actual or Anticipated Name of Syndicator:

Contact Person: Phone: Street Address:City: State: Zip:

b. Syndication Equity i. Anticipated Annual Credits $619,881.00ii. Equity Dollars Per Credit (e.g., $0.85 per dollar of credit) $0.890iii. Percent of ownership entity (e.g., 99% or 99.9%) 99.99000%iv. Syndication costs not included in Total Development Costs (e.g., advisory fees) $0v. Net credit amount anticipated by user of credits $619,819vi. Total to be paid by anticipated users of credit (e.g., limited partners) $5,516,389

c. Syndication: Select?d. Investors: Select?

4. Net Syndication Amount $5,516,389Which will be used to pay for Total Development Costs

5. Net Equity Factor 88.9999966779%Must be equal to or greater than 85%

TBD

Market Square IV - Reservation App Gap Calculation, printed 1


S. DETERMINATION OF RESERVATION AMOUNT NEEDED

1. Total Development Costs $9,108,792

2. Less Total of Permanent Funding, Grants and Equity - $3,591,848

3. Equals Equity Gap $5,516,944

4. Divided by Net Equity Factor 88.9999966779%(Percent of 10-year credit expected to be raised as equity investment)

5. Equals Ten-Year Credit Amount Needed to Fund Gap $6,198,814

Divided by ten years 10

6. Equals Annual Tax Credit Required to Fund the Equity Gap $619,881

7. Maximum Allowable Credit Amount $1,015,782(from Eligible Basis Calculation)

8. Requested Credit Amount For 30% PV Credit: $0For 70% PV Credit: $619,881

Credit per LI Units $10,331.3500Credit per LI Bedroom $8,983.7826

$619,881

9. Action: Provide Attorney’s Opinion (Mandatory Tab W)

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.

Combined 30% & 70% PV Credit Requested

Market Square IV - Reservation App Cash Flow, printed 1


T. CASH FLOW

1. RevenueIndicate the estimated monthly income for the Low-Income Units (based on Unit Details tab):

Total Monthly Rental Income for LIHTC Units $38,988Plus Other Income Source (list): $600Equals Total Monthly Income: $39,588Twelve Months x12Equals Annual Gross Potential Income $475,056Less Vacancy Allowance $33,254Equals Annual Effective Gross Income (EGI) - Low Income Units $441,802

2. Indicate the estimated monthly income for the Market Rate Units (based on Unit Details tab):

Total Monthly Income for Market Rate Units: $0Plus Other Income Source (list): $0Equals Total Monthly Income: $0Twelve Months x12Equals Annual Gross Potential Income $0Less Vacancy Allowance $0Equals Annual Effective Gross Income (EGI) - Market Rate Units $0

Action: Provide documentation in support of Operating Budget (TAB R)

3. Cash Flow (First Year)a. Annual EGI Low-Income Units $441,802b. Annual EGI Market Units $0c. Total Effective Gross Income $441,802d. Total Expenses $255,488e. Net Operating Income $186,314f. Total Annual Debt Service $156,189g. Cash Flow Available for Distribution $30,125

7.0%

7.0%

Market Square IV - Reservation App Cash Flow, printed 2


T. CASH FLOW

4. Projections for Financial Feasibility - 15 Year Projections of Cash Flow

StabilizedYear 1 Year 2 Year 3 Year 4 Year 5

Eff. Gross Income 441,802 450,638 459,651 468,844 478,221Less Oper. Expenses 255,488 263,153 271,047 279,179 287,554Net Income 186,314 187,485 188,604 189,665 190,667Less Debt Service 156,189 156,189 156,189 156,189 156,189Cash Flow 30,125 31,296 32,415 33,476 34,478Debt Coverage Ratio 1.19 1.20 1.21 1.21 1.22

Year 6 Year 7 Year 8 Year 9 Year 10Eff. Gross Income 487,785 497,541 507,492 517,642 527,994Less Oper. Expenses 296,181 305,066 314,218 323,645 333,354Net Income 191,605 192,475 193,274 193,997 194,640Less Debt Service 156,189 156,189 156,189 156,189 156,189Cash Flow 35,416 36,286 37,085 37,808 38,451Debt Coverage Ratio 1.23 1.23 1.24 1.24 1.25

Year 11 Year 12 Year 13 Year 14 Year 15Eff. Gross Income 538,554 549,325 560,312 571,518 582,948Less Oper. Expenses 343,355 353,655 364,265 375,193 386,449Net Income 195,200 195,670 196,047 196,325 196,500Less Debt Service 156,189 156,189 156,189 156,189 156,189Cash Flow 39,011 39,481 39,858 40,136 40,311Debt Coverage Ratio 1.25 1.25 1.26 1.26 1.26

Estimated Annual Percentage Increase in Revenue 2.00% (Must be < 2%)Estimated Annual Percentage Increase in Expenses 3.00% (Must be > 3%)

Market Square IV - Reservation App BINS , printed 1


U. Building-by-Building Information Must 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).

FOR YOUR CONVENIENCE, COPY AND PASTE IS ALLOWED WITHIN BUILDING GRID DO NOT use the CUT feature 30% Present Value 30% Present Value

Credit for Acquisition Credit for Rehab / New Construction 70% Present Value CreditActual or Actual or Actual or

TAX MARKET Estimate Anticipated Estimate Anticipated Estimate AnticipatedBldg BIN CREDIT RATE Street Address 1 Street City State Zip Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit Qualified In-Service Applicable Credit

# if known UNITS UNITS Address 2 Basis Date Percentage Amount Basis Date Percentage Amount Basis Date Percentage Amount

1. 1. 60 7400 Taw Street North ChesterfieVA 23237 $0 $0 $11,286,470 04/01/20 9.00% $1,015,782

2. $0 $0 $0

3. $0 $0 $0

4. $0 $0 $0

5. $0 $0 $0

6. $0 $0 $0

7. $0 $0 $0

8. $0 $0 $0

9. $0 $0 $0

10. $0 $0 $0

11. $0 $0 $0

12. $0 $0 $0

13. $0 $0 $0

14. $0 $0 $0

15. $0 $0 $0

16. $0 $0 $0

17. $0 $0 $0

18. $0 $0 $0

19. $0 $0 $0

20. $0 $0 $0

21. $0 $0 $0

22. $0 $0 $0

23. $0 $0 $0

24. $0 $0 $0

25. $0 $0 $0

26. $0 $0 $0

27. $0 $0 $0

28. $0 $0 $0

29. $0 $0 $0

30. $0 $0 $0

31. $0 $0 $0

32. $0 $0 $0

33. $0 $0 $0

34. $0 $0 $0

35. $0 $0 $060 0

Totals from all buildings $0 $0 $11,286,470

$0 $0 $1,015,782Qualified Basis Totals (must agree with VIII-A10)

Credit Amount Totals (must agree with VIII-A-12) 1

Number of BINS: 1

NUMBEROF

Number of BINS:

Market Square IV - Reservation App Scoresheet, printed 1


W.

MANDATORY ITEMS: Included Scorea. Signed, completed application with attached tabs in PDF format Y Y or N 0b. Active Excel copy of application Y Y or N 0c. Partnership agreement Y Y or N 0d. SCC Certification Y Y or N 0e. Previous participation form Y Y or N 0f. Site control document Y Y or N 0g. Architect's Certification Y Y or N 0h. Attorney's opinion Y Y or N 0i. Nonprofit questionnaire (if applicable) Y Y, N, N/A 0j. Appraisal Y Y or N 0k. Zoning document Y Y or N 0l. Universal Design Plans Y Y or N 0

m. List of LIHTC Developments (Schedule A) Y Y or N 0Total: 0.00

1. READINESS:a. VHDA notification letter to CEO (via Locality Notification Information Application) Y 0 or -50 0.00b. Local CEO Opposition Letter N 0 or -25 0.00c. Plan of development N 0 or 40 0.00d. Location in a revitalization area Y 0 or 10 10.00

Total: 10.00

2. HOUSING NEEDS CHARACTERISTICS:a. Sec 8 or PHA waiting list preference Y 0 or up to 5 5.00b. Existing RD, HUD Section 8 or 236 program N 0 or 20 0.00c. Waiting list preference to disabilities (DD) within marketing plan Y 0 or 25 25.00d. Subsidized funding commitments 0.061027 Up to 40 12.21e. Tax abatement or new project based rental subsidy (HUD or RD) N 0 or 10 0.00f. Census tract with <12% poverty rate 0% 0, 20, 25 or30 0.00g. Development listed on the Rural Development Rehab Priority List N 0 or 15 0.00h. Dev. located in area with little or no increase in rent burdened population N Up to -20 0.00i. Dev. located in area with increasing rent burdened population Y Up to 20 20.00

Total: 62.21

LIHTC SELF SCORE SHEET

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 yellow 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 assumptions about your application and enter the appropriate responses in the yellow shaded cells of this score sheet. All but two require yes/no responses, in which case enter Y or N as appropriate. Item 5f would require 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 have 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.

Self Scoring Process



3. DEVELOPMENT CHARACTERISTICS:a. Amenities (See calculations below) 77.00b. Project subsidies/HUD 504 accessibility for 5 or 10% of units N 0 or 60 0.00

or c. HCV Payment Standard/HUD 504 accessibility for 5 or 10% of units Y 0 or 30 30.00or d. HUD 504 accessibility for 5% of units N 0 or 15 0.00

e. Proximity to public transportation (within Northern VA or Tidewater) N 0, 10 or 20 0.00f. Development will be Earthcraft, LEED certified or includes benchmarking Y up to 45 45.00g. Units constructed to meet VHDA's Universal Design standards 100% Up to 15 15.00h. Developments with less than 100 units Y up to 20 16.00i. Historic Structure N 0 or 5 0.00

Total: 183.00

4. TENANT POPULATION CHARACTERISTICS: Locality AMI State AMI$78,700 $55,200

a. Less than or equal to 20% of units having 1 or less bedrooms N 0 or 15 0.00b. <plus> Percent of Low Income units with 3 or more bedrooms 0.00% Up to 15 0.00c. Units with rents at or below 40% of AMI 10.00% Up to 10 10.00d. Units with rent and income at or below 50% of AMI 50.00% Up to 50 50.00

or e. Units with rents at or below 50% rented to tenants at or below 60% of AMI 50.00% Up to 25 0.00or f. Units in LI Jurisdictions with rents <= 50% rented to tenants with <= 60% of AMI 0.00% Up to 50 0.00

Total: 60.00

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 - 3 developments and at least 500,000 in liquid assets N 0 or 50 0.00or c. Developer experience - 1 development with 1 x units N 0 or 10 0.00

d. Developer experience - life threatening hazard N 0 or -50 0.00e. Developer experience - noncompliance N 0 or -15 0.00f. Developer experience - did not build as represented 0 0 or -2x 0.00g. Developer experience - failure to provide minimum building requirements N 0 or -20 0.00h. Developer experience - termination of credits by VHDA N 0 or -10 0.00i. Developer experience - exceeds cost limits at certification N 0 or -50 0.00j. Management company rated unsatisfactory N 0 or -25 0.00

Total: 50.00

6. EFFICIENT USE OF RESOURCES:a. Credit per unit Up to 200 70.46b. Cost per unit Up to 100 29.33

Total: 99.79

7. BONUS POINTS:a. Extended compliance 0 Years 40 or 50 0.00

or b. Nonprofit or LHA purchase option Y 0 or 60 60.00or c. Nonprofit or LHA Home Ownership option N 0 or 5 0.00

d. Combined 9% and 4% Tax Exempt Bond Site Plan Y Up to 45 45.00e. RAD participation and competing in Local Housing Authority pool N Up to 10 0.00

Total: 105.00

425 Point Threshold - all 9% Tax Credits TOTAL SCORE: 570.00325 Point Threshold - Tax Exempt Bonds



Amenities:All units have: Max Ptsa. Community Room 5 5.00b. Exterior walls constructed with brick and other low maintenance materials 22 22.00c. Kitchen/Laundry Appl - EPA Energy Star qualified 5 5.00d. Windows and Glass Doors - EPA Energy Star qualified or NFRC 5 5.00e. Heat/AC-SEER-AFUE 10 10.00f. Sub-metered water expense 5 5.00g. WaterSense faucets & showerheads 2 2.00h. High speed internet service 1 1.00i. Energy efficient water heaters 5 5.00j. WaterSense labeled toilet 2 2.00k. New Construction only: EPA Energy Star qualified bath vent fans 2 2.00l. R-3+ wall sheathing insulation 5 5.00m. Cooking surfaces - fire prevention/suppression features 2 2.00n. Hook-ups for dehumidification system TRUE N/A N/Ao. Unit dehumidification with humidistat FALSE N/A N/A

71.00

All elderly units have:a. Front-control ranges 1 1.00b. Emergency call system 3 3.00c. Independent/suppl. heat source 1 1.00d. Two eye viewers 1 1.00

6.00

Total amenities: 77.00

Market Square IV - Reservation App Dev Summary, printed 1

X.Summary Information 2018 Low-Income Housing Tax Credit Application For Reservation

Deal Name: Market Square IV

Cycle Type: 9% Tax Credits Requested Credit Amount: Allocation Type: New Construction Jurisdiction: Chesterfield CountyTotal Units 60 Population Target: Elderly Total ScoreTotal LI Units 60 570.00Project Gross Sq Ft: Owner Contact: John BoltonEarth Craft/Leeds? TRUE

Source of Funds Amount Per Unit Per Sq FtPermanent Financing $3,591,848 $59,864 $71

Type of Uses Amount Per Unit Sq Ft % of TDCImprovements $5,800,000 $96,667 $114 63.67% Total Improvements $8,608,792General Req/Overhead/Profit $810,000 $13,500 $16 8.89% Land Acquisition $0Other Contract Costs $0 $0 $0 0.00% Developer Fee $500,000Owner Costs $1,998,792 $33,313 $39 21.94% Total Development Costs $9,108,792Acquisition $0 $0 $0 0.00%Developer Fee $500,000 $8,333 $10 5.49%Total Uses $9,108,792 $151,813

Proposed Cost Limit/Unit: $151,813Applicable Cost Limit/Unit: $249,754

Gross Potential Income - LI Units $475,056Gross Potential Income - Mkt Units $0

Subtotal $475,056Less Vacancy % 7.00% $33,254 Supp Hsg 0

Effective Gross Income $441,802 # of Eff 0# of 1BR 51

Rental Assistance? FALSE # of 2BR 9# of 3BR 0# of 4+ BR 0

Category Total Per Unit Total Units 60Administrative $136,269 $2,271Utilities $21,764 $363Operating & Maintenance $38,535 $642Taxes & Insurance $43,920 $732 # of Units # of Units

40% AMI 0 6Total Operating Expenses $240,488 $4,008 50% AMI 30 24

60% AMI 30 30Replacement Reserves $15,000 $250 Market 0 0

Total Expenses $255,488 $4,258 Extended Use Restriction? 30

Cash FlowEGI $441,802Total Expenses $255,488Net Income $186,314Debt Service $156,189

Debt Coverage Ratio (YR1): 1.19

Development Summary

Annual Debt Service$156,189

Expenses

Income Levels Rent Levels

50,851.25

Uses of Funds - Actual Costs Total Development Costs

Income

Unit Breakdown

$619,881

A.1Revitalization Area

Documentation

2018

Revitalization Area

General Instructions Revitalization areas are defined in Virginia Code §36-55.30:2.A.

Designation To qualify for revitalization area points, select one of the following (and provide adequate documentation):

1. The development is located in a Qualified Census Tract, as defined by HUD.

2. The development is located in a census tract wherein 70% or more of the families have incomeswhich are ≤ 80% statewide median income. NOTE: these census tracts are included in thedefinition of targeted area for single-family lending purpose, but do not include ACEDS.

3. The development is located in an already established redevelopment area, conservation area orrehabilitation district created by a city or county, pursuant to §36-1 et seq. Documentation mustshow area boundaries and support that the development lies within those boundaries.

4. The development is located in a Housing Rehabilitation Zone established through an ordinancecreated by a city, county or town pursuant to §36-55.64. Documentation must include a copy ofthe ordinance with support that the development lies within the Rehabilitation Zone.

5. The development is located in a defined revitalization area. Documentation must include aresolution from the locality supporting the development’s s location within the revitalization area.See language below.

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

Delete the language that does not apply, (i)(1) or (i)(2) above.

201

The development is located in a Qualified Census Tract, as defined by HUD.

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2018

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Virginia SCC Certification (Mandatory)

2018

[user]

STATE CORPORATION COMMISSION

This is to certify that the certificate of organization of

was this day issued and admitted to record in this office and that the said limited liability company is authorized to transact its business subject to all Virginia laws applicable to the company and its business. Effective date:

State Corporation Commission Attest:

Clerk of the Commission

Richmond, February 15, 2018


February 15, 2018

CISECOM

COMMONWEALTH OF VIRGINIA STATE CORPORATION COMMISSION

AT RICHMOND, FEBRUARY 15, 2018


February 15, 2018.

Mark C. ChristieCommissioner

DLLCACPTCISECOM18-02-15-5878

D

Previous Participation Certification (Mandatory)

2018

E

Non-profit Questionnaire (Mandatory)

2018

Non-profit Questionnaire

Page 1 of 10

Part II, 13VAC10-180-60, of the Qualified Allocation Plan (the “Plan”) of the Virginia Housing Development Authority (the "Authority") for the allocation of federal low income housing tax credits ("Credits") available under §42 of the Internal Revenue Code, as amended (the "Code") establishes certain requirements for receiving Credits from the non-profit Pool established under the Plan and assigning points for participation of a non-profit organization in the development of qualified low-income housing.

Answers to the following questions will be used by the Authority in its evaluation of whether or not an applicant meets such requirements. Attach additional sheets as necessary to complete each question.

1. General Information

a. Name of development:

b. Name of owner/applicant:

c. Name of non-profit entity:

d. Address of principal place of business of non-profit entity:

Indicate funding sources and amount used to pay for office space:

e. Tax exempt status: 501(c)(3) 501(c)(4) 501(a)

f. Date of legal formation of non-profit (must be prior to application deadline);evidenced by the following documentation:

g. Date of IRS 501(c)(3) or 501(c)(4) determination letter (must be prior to applicationdeadline and copy must be attached):

h. Describe exempt purposes (must include the fostering of low-income housing in its articlesof incorporation):

i. Expected life (in years) of non-profit:

Market Square IV



23 W Broad St. Richmond, VA 23220

Individual donations, private & public institutions, and developer fees fund the annual rent for office space & parking

4/19/1988

Articles of Incorporation and Amendment of the Amended and Restated Articles of Incorporation of Richmond Better Housing Coalition,

effective September 22, 1988.

01/03/1989- confirmed 10/21/1992, affirmed 1/27/2016

The corporation is organized entirely for the charitable purposes of ensuring that every resident of the City of Richmond, Virginia and the

metropolitan area shall have a decent,safe, and affordable place to live.

Perpetual

Non-profit Questionnaire, cont’d

Page 2 of 10

j. Explain the anticipated future activities of the non-profit over the next five years:

k. How many full time, paid staff members does the non-profit and, if applicable, any othernon-profit organization(s) ("related non-profit(s)") of which the non-profit is a subsidiary or towhich the non-profit is otherwise related have (i.e. by shared directors, staff, etc.)?

How many part time, paid staff members?

Describe the duties of all staff members:

l. Does the non-profit share staff with any other entity besides a related non-profit describedabove?

Yes No If yes, explain in detail:

m. How many volunteers does the non-profit and, if applicable, any related non-profit have?

n. What are the sources and manner of funding of the non-profit? (You must disclose allfinancial and/ or the arrangements with any individual(s) or for profit entity, includinganyone or any entity related, directly, indirectly, to the Owner of the Development

o. List all directors of the non-profit, their occupations, their length of service on the board,and their residential addresses:

2. Non-profit Formation

a. Explain in detail the genesis of the formation of the non-profit:

Continue the development of multi-family rentals and single family for sale housing; continued property management of multifamiily

developments; resident and social services for residents at BHC communities. Plans for the next five years include development of single family

homes for sale in Rose Corridor, Blackwell, and Church Hill, as well as providing affordable rental housing in the Richmond metropolitan area.

67 3

See attached Organizational Profile

See attached chart of related non-profit entitites - RAH, ARC, ARC-II, and RUSHI

See attached Staff Experience and Qualifications

See attached Organizational Chart

■

The 21 member Board of Directors serves in a voluntary capacity. BHC Management also has a 10-member voluntary Board of Directors. A variable number of

volunteers from various resources, e.g. corporate volunteer groups, provide social services to residents, or maintain work on properties, e.g. painting or planting projects.

A majority of funding for the core budget comes from the rental revenues, development fees, and fees for services. This is supplemented by

donations from individuals, foundations, and corporations, as well as special events to raise funds to complete the funding structure of BHC.

See attached 2018 Board of Directors list.

See attached Additional Sheet


Page 3 of 10

b. Is the non-profit, or has it ever been, affiliated with or controlled by a for-profit entity orlocal housing authority?

Yes No If yes, explain in detail:

c. Has any for profit organization or local housing authority (including the Owner of theDevelopment, joint venture partner, or any individual or entity directly or indirectly relatedto such Owner) appointed any directors to the governing board of the non-profit?

Yes No If yes, explain:

d. Does any for-profit organization or local housing authority have the right to make suchappointments?


e. Does any for profit organization or local housing authority have any other affiliation withthe non-profit or have any other relationship with the non-profit in which it exercises or hasthe right to exercise any other type of control?

Yes No, If yes, explain:

f. Was the non-profit formed by any individual(s) or for profit entity for the principal purposeof being included in the non-profit Pool or receiving points for non-profit participationunder the Plan?

Yes No

g. Explain in detail the past experience of the non-profit including, if applicable, the pastexperience of any other related non-profit of which the non-profit is a subsidiary or towhich the non-profit is otherwise related (by shared directors, staff, etc.):

h. If you included in your answer to the previous question information concerning anyrelated non-profit, describe the date of legal formation thereof, the date of IRS 501(c)(3)or 501(c)(4) status, its expected life, its charitable purposes and its relationship to the non-profit.

3. Non-profit Involvement

■NA

NA

■NA

■NA

■




Page 4 of 10

a. Is the non-profit assured of owning an interest in the Development (either directly orthrough a wholly owned subsidiary) throughout the Compliance Period (as defined in§42(i)(1) of the Code)?

Yes No

(i) Will the non-profit own at least 10% of the general partnership/owning entity? Yes No

(ii) Will the non-profit own 100% of the general partnership interest/owning entity? Yes No

If no to either 3a.i or 3a.ii above, specifically describe the non-profit's ownership interest:

b. (i) Will the non-profit be the managing member or managing general partner? Yes No If yes, where in the partnership/operating agreement is this provision

specifically referenced?

(ii) Will the non-profit be the managing member or own more than 50% of the generalpartnership interest? Yes No

c. Will the non-profit have the option or right of first refusal to purchase the proposeddevelopment at the end of the compliance period for a price not to exceed theoutstanding debt and exit taxes of the for-profit entity?

Yes No If yes, where in the partnership/operating agreement is this provision specifically referenced?

Recordable agreement attached to the Tax Credit Application as TAB V

If no at the end of the compliance period explain how the disposition of the assets will be structured:

d. Is the non-profit materially participating (regular, continuous, and substantial participation) inthe construction or rehabilitation and operation or management of the proposedDevelopment?

Yes No If yes,

(i) Describe the nature and extent of the non-profit's proposed involvement in theconstruction or rehabilitation of the Development:

(ii) Describe the nature and extent of the non-profit's involvement in the operation or

■

The non-profit owns 100% of the of the managing member

Section 7 of the Operating Agreement

Community planning, acquisition, financing, construction, and management.


Page 5 of 10

management of the Development throughout the Extended Use Period (the entire time period of occupancy restrictions of the low-income units in the Development):

(iii) Will the non-profit invest in its overall interaction with the development more than 500hours annually to this venture? Yes No If yes, subdivide the annual hours byactivity and staff responsible and explain in detail:

e. Explain how the idea for the proposed development was conceived. For example, was it inresponse to a need identified by a local neighborhood group? Local government? Boardmember? Housing needs study? Third party consultant? Other?

f. List all general partners/managing members of the Owner of the Development (one mustbe the non-profit) and the relative percentages of their interests:

g. If this is a joint venture, (i.e. the non-profit is not the sole general partner/managingmember), explain the nature and extent of the joint venture partner's involvement in theconstruction or rehabilitation and operation or management of the proposeddevelopment.

h. Is a for profit entity providing development services (excluding architectural, engineering,legal, and accounting services) to the proposed development? Yes No If yes,(i) explain the nature and extent of the consultant’s involvement in the construction orrehabilitation and operation or management of the proposed development.

(ii) Explain how this relationship was established. For example, did the non-profit solicitproposals from several for-profits? Did the for-profit contact the non-profit and offerthe services?

i. Will the non-profit or the Owner (as identified in the application) pay a joint venture partner


See Estimate of Annual Time Allocation (attached)

The idea for the proposed project is a result of Better Housing Coalition's commitment to expand choices and access to high quality housing

in the Richmond Metro region. The proposed project seeks to further the efforts of our mission to provide high quality

housing in areas with access to necessary amenities to allow seniors to age in place comfortably.

PAD XVIII, LLC is the sole initial member.

BHC owns 100% of PAD XVIII, LLC

N/A

NA

NA


Page 6 of 10

or consultant fee for providing development services? Yes No If yes, explain the amount and source of the funds for such payments.

j. Will any portion of the developer’s fee which the non-profit expects to collect from itsparticipation in the development be used to pay any consultant fee or any other fee to athird party entity or joint venture partner? Yes No If yes, explain in detail theamount and timing of such payments.

k. Will the joint venture partner or for-profit consultant be compensated (receive income) inany other manner, such as builder’s profit, architectural and engineering fees, or cash flow?


l. Will any member of the board of directors, officer, or staff member of the non-profit participatein the development and/or operation of the proposed development in any for-profit capacity?


m. Disclose any business or personal (including family) relationships that any of the staffmembers, directors or other principals involved in the formation or operation of the non-profit have, either directly or indirectly, with any persons or entities involved or to beinvolved in the Development on a for-profit basis including, but not limited to the Owner ofthe Development, any of its for-profit general partners, employees, limited partners or anyother parties directly or indirectly related to such Owner:

n. Is the non-profit involving any local, community based non-profit organizations in thedevelopment, role and operation, or provision of services for the development?

Yes No If yes, explain in detail, including the compensation for the other non-profits:

■

NA

■

NA

NA

NA


BHCM will manage the property and BHC's Community Social Work staff will coordinate a variety of recreational, social, education and

health-related services as it does in other BHC developed multi-family communities.


Page 7 of 10

4. Virginia and Community Activity

a. Has the Virginia State Corporation Commission authorized the non-profit to do business inVirginia? Yes No

b. Define the non-profit’s geographic target area or population to be served:

c. Does the non-profit or, if applicable, related non-profit have experience serving thecommunity where the proposed development is located (including advocacy, organizing,development, management, or facilitation, but not limited to housing initiatives)?

Yes No If yes, or no, explain nature, extent and duration of any service:

d. Does the non-profit’s by laws or board resolutions provide a formal process for low income,program beneficiaries to advise the non-profit on design, location of sites, developmentand management of affordable housing? Yes No If yes, explain:

e. Has the Virginia Department of Agriculture and Consumer Services (Division of ConsumerAffairs) authorized the non-profit to solicit contributions/donations in the target community?

Yes No

f. Does the non-profit have demonstrated support (preferably financial) from establishedorganizations, institutions, businesses and individuals in the target community?


g. Has the non-profit conducted any meetings with neighborhood, civic, or community groupsand/or tenant associations to discuss the proposed development and solicit input? Yes

No If yes, describe the meeting dates, meeting locations, number of attendees andgeneral discussion points:

h. Are at least 33% of the members of the board of directors representatives of the communitybeing served? Yes No If yes,

(i) low-income residents of the community? Yes No

Better Housing Coalition and its affiliate organizations serve the needs of low-to moderate-income families in the City of Richmond,

surrounding counties of Chesterfield and Henrico, as well as the City of Petersburg.

Better Housing Coalition has been active in Richmond-area community development for over 27 years.

Better Housing Coalition has adopted a policy which guides the review and selection of development activities. This policy incorporates

a variety of criteria that require community involvement and input. Additionally, several members of the Board of Directors qualify as

low income individuals. BHC is a registered CHDO and CDBO.

BHC receives financial support from local donors including corporations and individuals located in the Richmond metropolitan

area and works with local banking institutions on equity and financing for project developments.

BHC held an initial meeting with existing tenants of Market Square I & II on October 10, 2017 to introduce preliminary plans for renovations of their buildings,

and new construction of the fourth phase. Additional community meetings were held on October 30th, 2017.

■


Page 8 of 10

(ii) elected representatives of low-income neighborhood organizations? Yes No

i. Are no more than 33% of the members of the board of directors representatives of thepublic sector (i.e. public officials or employees or those appointed to the board by publicofficials)? Yes No

j. Does the board of directors hold regular meetings which are well attended and accessibleto the target community? Yes No If yes, explain the meeting schedule:

k. Has the non-profit received a Community Housing Development Organization (CHDO)designation, as defined by the U. S. Department of Housing and Urban Development’sHOME regulations, from the state or a local participating jurisdiction? Yes No

l. Has the non-profit been awarded state or local funds for the purpose of supportingoverhead and operating expenses? Yes No If yes, explain in detail:

m. Has the non-profit been formally designated by the local government as the principalcommunity-based non-profit housing development organization for the selected targetarea? Yes No If yes, explain:

n. Has the non-profit ever applied for Low Income Housing Tax Credits for a development inwhich it acted as a joint venture partner with a for-profit entity? Yes No If yes,note each such application including: the development name and location, the date ofapplication, the non-profit’s role and ownership status in the development, the name andprincipals of the joint venture partners, the name and principals of the general contractor,the name and principals of the management entity, the result of the application, and thecurrent status of the development(s).

o. Has the non-profit ever applied for Low Income Housing Tax Credits for a development inwhich it acted as the sole general partner/managing member? Yes No If yes,note each such development including the name and location, the date of theapplication, the result of the application, and the current status of the development(s).

p. To the best of your knowledge, has this development, or a similar development on thesame site, ever received tax credits before? Yes No If yes, explain:

■

The BHC Board of Directors meets quarterly (4 times a year) on the third Wednesday. Also, an annual retreat is scheduled, usually in November.

The tentative schedule is communicated to all board and committee members at the beginning of the year.

■NA

■NA

■

NA

See attached Related Nonprofit Entities Chart and attached list of BHC LIHTC Projects.

BHC is usually 100% owner of all general partners and managing members, with the exception of Claiborne Square LLC.

■NA

General Organization Background

2.1 BHC MISSION AND VALUES

At BHC, all staff are expected to know and to keep BHC’s mission and values at the forefront of their work activities. It is crucial that each staff understand how their role and tasks at BHC contribute to the mission and how other staff make equally valuable contributions through their roles. It is equally important that staff support each other and reinforce each other by providing feedback to others on performance and actively acknowledging the attempts, successes and challenges in carrying out their duties for the benefits of those we serve. CSW staff are responsible for engaging in exploration of the mission and values throughout their tenure at BHC during supervision and at staff meetings. BHC MISSION

Better Housing Coalition changes lives and transforms communities through high quality affordable housing.

BHC VALUES

WE BUILD OPPORTUNITIES FOR PEOPLE AND COMMUNITIES. While our primary lines of business involve bricks, mortar and building, our ultimate goal is to help people and the places they call home realize their fullest potential.

WE CARE, WE LEARN, WE SHARE. We are passionate about our work and each other. As we move towards our mission, we are open to taking calculated risks as long as we learn and grow from these experiences. We want to share our knowledge with one another and our industry to improve community impacts.

WE DO WHAT'S RIGHT AND NOT WHAT'S EASY.We stand for integrity. In everything we do, we want to be held accountable for quality, meaningful and respectful service to our residents, partners and colleagues.

WE EMBRACE CHANGE FOR GOOD. We seek innovative thinking and action to result in greater efficiencies and effectiveness to advance our mission, improve our company and realize positive community change.

WE STRIVE TO BE THE BEST WHILE HAVING FUN. We want to be the best employer, partner and industry leader in making good things happen for the families and communities we serve. We want to utilize the highest standards of excellence in all aspects of our business. As we go about doing our work, we want to have joy in our hearts and smiles on our faces.

2.2 HISTORY OF BETTER HOUSING

Better Housing Coalition (BHC), established in 1988, is a private, non-profit community development organization. Our mission: Better Housing Coalition changes lives and transforms communities through high quality affordable housing.

Mary Tyler Cheek McClenahan and Carter McDowell initially began Better Housing as a coalition of individuals and organizations interested in improving the quality and quantity of affordable housing choices in the Richmond area. To actualize this concept, T.K. Somanath was hired as BHC’s first executive director. With the help of public, private and non-profit partners and grassroots neighborhood leadership, BHC began to make its impact on the Richmond region.

From the beginning of our community revitalization efforts at BHC, we have strategically targeted areas of Richmond and the surrounding counties that would change the face of a community and serve as a catalyst for both physical and social neighborhood change. By building communities and providing services that promote human dignity for all ages and people, by promoting a balance of economic prosperity and environmental responsibility, we seek to make a positive difference in the lives of Virginia residents through community development initiatives that provide citizens the opportunity to enjoy the highest quality of life.

For BHC, revitalization means approaching each neighborhood and community that we are invited to work in with a holistic framework for stability and sustainability. A core value of Better Housing recognizes that the rebuilding of neglected communities requires more than bricks and mortar. Once BHC commits to a community, we remain invested over time; we provide dedicated, highly experienced staffs that are devoted to the communities they serve and work in conjunction with residents to address issues of public safety and crime, improve schools and provide real economic development opportunities.

Better Housing Coalition recognizes that the success of our housing is measured by the success of our residents. In 1997, BHC began its own property management company to ensure that all residents were treated with respect and to ensure that community assets were maintained for the benefit of all. In 1998, we incorporated community social work services into our neighborhoods and based social work staff on-site. Through the community social work department, we work with residents to improve their social, psychological and economic well-being. The program provides enrichment and intervention services for all age groups and assists residents in building strong communities.

As part of our overall mission of rebuilding communities, Better Housing Coalition develops properties that are strategically targeted to increase the supply of affordable housing and to stimulate neighborhood residential and commercial development. BHC’s investment has been a catalyst for other public and private investment. Blight has been replaced with renovated homes and new homes blend seamlessly into the historical fabric of the neighborhoods.

Since the founding of BHC, nearly 1500 affordable rental apartments and 200 homes for first time homebuyers have been built representing an investment of over $100 million. BHC’s programs have served over 3000 families.

2.3 OVERVIEW OF ORGANIZATION OF BETTER HOUSING Better Housing is comprised of a number of different departments and areas that work together to accomplish our mission. The areas below provide a general description of the main components of BHC and an organizational chart has been included in the appendix. In 2018,there are over 60 employees of BHC.

DevelopmentThis area consists of the planning, acquisition, financing and building of both our multi-family properties as well as our single family homes. This department works closely with accounting,asset management and property management. Community social work intersects with development during the planning phase of a community and sometimes when relocation is involved in a multi-family revitalization effort. CSW staff also work with the single family component of this area to help residents learn about the possibilities of home ownership. This department is located at the main office and is often at sites during construction.

Property Management (BHCM)The main responsibility of the property management company is to ensure that BHC assets are maintained and viable for the good of the entire community. Their principle tasks consist of leasing, collecting rent and other fees as appropriate, ensuring compliance with the lease and all local, state and federal requirements, ensuring compliance with financing entity’s requirements and ensuring that physical buildings and land of the communities are safe and appropriately maintained. Maintenance staff ensure that the systems in resident units are working properly and common spaces and external areas are clean, safe and attractive. In addition, property management staff work to create a welcoming and vibrant community through celebrations and events, often in conjunction with resident services staff. Staff in this area is located at the main office and at the individual BHC communities.

Administration & Accounting and External AffairsStaff in this area provide services for BHC as a whole organization through governance and leadership, managing finances, asset management, human resources, fund raising and promoting the organization to others. CSW works closely with external affairs for fund raising purposes and for marketing purposes. There are many different staff that contribute to these functions and most are located at the main office.

Community Social Work/Resident ServicesCommunity social work staff is charged with assisting BHC residents to reach their individual and household goals. Staff also works with BHC communities as a whole to build and enhance both formal and informal networks and support resident leadership and special initiatives. CSW works closely with property management staff to prevent evictions and maintain stability in our communities. Staff in this department often rotate to various sites and work directly in our larger family communities.

Please see the following sections for more detailed information about CSW

3.1 BHC COMMUNITY SOCIAL WORK HISTORY

As mentioned previously, the community social work department began in 1998. At that time, the sole social worker provided outreach into the Cary 2000 community, then a newly revitalized neighborhood of apartment homes and renovated single family dwellings. She also worked with the elders at Columns on Grove, an age-restricted community in the fan. The social worker’s role at Cary 2000 at that time was to provide assistance to families and other BHC residents and also to support the general community building in the larger neighborhood. A small after-school program existed on Rowland Street where property management and social work staff were located. Community organizing was an integral strategy with a focus on crime reduction. Work at Columns focused on individual case management and service referrals.

When Better Housing Coalition began revitalization plans began at Winchester Greens, then Park Lee Apartments, in Chesterfield, social work staff worked with existing residents, BHC administration and staff, Chesterfield County staff, architects, the newly created property management department and other interested stakeholders such as the area school principle, sports coaches, leaders of faith communities and others to help residents determine what they desired and what was needed in their new community. This bottom-up approach formed the blueprint for the new community, Winchester Greens. Through participatory research conducted by the residents themselves with guidance from VCU School of Social Work, neighbors were very clear that they wanted a diverse community: they wanted to live with people of different incomes, races, ages, family make-up. They stated that they needed affordable child care and access to employment assistance. It was important that children were safe after school while parents worked. Transportation was a significant challenge. Through the efforts of the residents, the development, property management and the social work teams and with extraordinary assistance from Chesterfield County departments, the poverty stricken and crime ridden Park Lee was transformed over several years into a beautiful, safe, economically diverse community that anyone would be proud to call home.

Social work services began to change at this time from a ‘doing for’ model to a ‘doing with’, teaching/coaching model. Externally, welfare reform pushed consumers to change behavior as did the enforcement of the lease by property management. Slowly, through intensive family andcommunity work, on-site after school program and a caring community, the culture of Winchester Greens began to change in a positive manner and residents began to hold each other accountable for the consequences of their actions. Crime was reduced, school truancy became unacceptable, fewer children dropped out of school and graduation rates increased. The first college bound graduates were celebrated far and wide. Today, Market Square Senior Apartments exist on the Winchester Greens campus as do commercial neighbors and a child care center. The blueprint created by the residents was completed.

During this time, many of our smaller communities, Rockwood Village, St Andrews, Randolph Place, Market Square and Monarch Woods, came into being and the number of our independent senior living communities increased. In each community BHC learned many lessons in development, property management and social work. Social work staff increased and became more specialized. CSW staff had backgrounds in nursing, vocational work, adolescent trauma and elder services. Our practice with elders expanded and became focused on assisting seniors to age in place. Health and wellness activities proved very successful and resident’s quality of life was significantly affected in a positive manner and there was a shift in the culture in our oldest senior communitiesBy the time that Carter Woods in Henrico County began to be considered, our model of combining engagement, assessment and both long and short term case management was well-established.

Partnerships were created with public, non-profit organizations and the business community. When BHC moved to Petersburg with an entirely new social services environment, CSW met the challenge well and assisted our newest residents at that time to make Claiborne Square home.

Because Winchester Greens was viewed as such a success, there was an expectation and hope that the work done in Chesterfield would transfer to Lincoln Mews on Northside in Richmond. Social work staff was on-site before BHC actually owned this property and was instrumental in assessing the strengths and challenges of this community. Staff also worked closely with the development staff to survey each household about their existing apartment and provided information about what BHC hoped to physically accomplish on North Avenue. Property management staff worked extraordinarily hard together with social work to assist families to vacate their old apartment and move into their new homes. This revitalization used the Winchester Greens model which prevented displacement of community members. A new community center was created; residents could meet and use the services and the after school program had a permanent location. Green space was created, playgrounds were built, new neighbors, some of whom served our country in war, moved in. All staff engaged the community over the past nine years with diligence and patience. It seems that although it has taken a long time, there is a positive and hopeful spirit of engagement at Lincoln Mews these days. All of us together with the residents will further this growth.

STAFF EXPERIENCE AND QUALIFICATIONS

Better Housing Coalition and its affiliate corporations share 66 full-time associates. BHC staffmembers are experienced providers of affordable housing to low-income families, providingpermanent benefits to low-income residents of the communities we have targeted. Solvingcomplex housing problems requires a pooling of talent, creativity and energy. BHC’s dedicatedstaff has proven its ability to provide the leadership and follow-through necessary to networkresources and revitalize deteriorated properties and produce long-term solutions. Together,we have eliminated some of the most serious sub-standard housing in Richmond. Staffmembers who will have involvement in this development are listed as follows:

Greta J. Harris, M.S., President and Chief Executive Officer, provides leadership for all BHCprograms and all aspects of operations. She networks with housing organizations (non-profit,public and private) that are concerned with housing low-to-middle income families in theRichmond metro area. She develops good collaborative relationships and an effectivecommunication network with neighborhood organizations, civic leaders, members of CityCouncil, the City Planning Commission, the City Administration, HUD, VHDA, local financialinstitutions, and community and professional consultants. She works with BHC’s broad-basedBoard of Directors, volunteers, consultants and associates to expand housing production efforts.She oversees the writing and submission of grant proposals, while developing innovativeprograms to increase funding to solve the area’s housing problems. Prior to her current positionwith BHC, Ms. Harris served as vice president for the Local Initiatives Support Corporation(LISC). In this role, she provided strategic and managerial support to 10 of LISC’s local officesin southern and mid-western regions. Prior to that, she was the senior program director forVirginia LISC. Ms. Harris serves on the City of Richmond’s Economic Development Authorityand has been a member of the Federal Reserve Bank’s Board of Governors’ Consumer AdvisoryCouncil, the Virginia Housing Coalition, the Richmond Community Development Alliance andSeven Hills Boys Middle School. Among other community leadership roles she has held withinthe region, she is also a member of LMR’s Class of 1995. Greta earned her bachelor degree inarchitecture from V.P.I.S.U., and holds a master of science in architecture and urban design fromColumbia University.

Julie Hovermale, CPA, Vice President and Chief Financial Officer, directs the organization’sfinancial activities, planning and accounting practices as well as its relationship with lendinginstitutions, shareholders, and the financial community. Overseeing an array of financingincluding bank loans, Federal Low Income Housing Tax Credits, HUD 202 grants, and publiclytraded bonds, she ensures that all entities are in compliance with GAAP and current tax codes.Mrs. Hovermale previously served as the Director of Finance for Virginia Supportive Housing(VSH). VSH is a not-for-profit with a mission of providing permanent supportive housing tohomeless single adults. Earlier in her career Julie worked for several years at Keiter, an accountingfirm based in central Virginia. Her specialty was in the real estate and construction industries.She also is past board member for Big Brothers Big Sisters serving for five years two of whichas their Treasurer. Julie earned her bachelor degree in Accounting from VirginiaCommonwealth University and is a Certified Public Accountant.

Joyce Jackson, M.S.W., Vice President of Community Social Work, provides oversight for allaspects of the Community Social Work (CSW) department, including program development andevaluation, community resource development, advocacy and fund raising. As a member of thesenior management team, Ms. Jackson develops goals and objective for the community socialwork component of services offered by BHC properties. She supervises the Program Director ofSenior Services, Senior Specialist II, Site Director, Program Director and Community SocialWorker. Upon her arrival at BHC in 1999, Ms. Jackson developed the CSW department, whichincludes a case management component, as well as the creation and implementation of a self-sufficiency service delivery system. Her past work has included implementing innovativepermanent and transitional housing programs for the homeless and other special needspopulations. She is a graduate of Columbia University Graduate School of Social Work. She hasalso served as adjunct faculty of the School of Social Work at V.C.U.

Marilynn McAteer, M.U.R.P., M.P.A., Vice President of Planning and Evaluation, is amember of the senior leadership team and coordinates pre-development research on prospectivereal estate development as well as securing grant funding for capital needs. She leads theStrategic Planning process for the organization. She often represents the organization on housingand community development issues in the community. Ms. McAteer serves on theRichmond Planning Commission, Richmond Chapter of the Urban Land Institute’s ProgramCommittee and the Partnership for Smarter Growth Advisory Committee. She holds Mastersdegrees in Public Administration and in Urban and Regional Planning, both from V.C.U.

Bernard Rogers, AICP, Vice President of Real Estate Development, As Vice President of Real Estate Development, Bernard Rogers is charged with strategic and operational leadership of multi-family, single family and construction management division efforts. Major goals include portfolio diversification and substantial growth over the next 3-5 years. In his previous position at Better Housing Coalition, Mr. Rogers was a Senior Project Manager for seven years, and was responsible for managing affordable housing and commercial projects from concept through construction, including feasibility, acquisition, finance, design, and delivery to management. Prior to joining BHC, Mr. Rogers was a project manager with Brailsford & Dunlavey, a Washington, DC facility planning consulting firm, and specialized in facility programming, market analysis and financial feasibility. During his tenure with B&D, he worked with university, municipal, and private sector clients, nationwide, to develop student housing, recreation facilities, and professional/amateur sports facilities. Mr. Rogers was honored to serve the Town of Siler City, NC, for six (6) years, as its Director of Planning and Community Development, during a time of unprecedented housing and commercial growth. He navigated the growth pains of a small town, which was adjusting to a new immigrant population and the fear of losing its small town character. Mr. Rogers is a 1994 graduate of VCU’s Master of Urban and Regional Planning Program, and earned his .B.S. in Public Administration and Political Science from James Madison University. Mr. Rogers lives in Richmond, VA with his wife Kishau (pronounced Kish-aw) and their children Keara and Brenton.

Phillip Cunningham, Multifamily Development Associate, supports the VP and Director of RealEstate Development, as well as the VP of Planning and Evaluation. He is responsible forcompleting applications for funding from state and local government, overseeing projects throughvarious phases of the development process, and provides analytic research regarding theidentification and feasibility of potential projects. Prior to joining the development team, Mr. Cunningham worked as a Leasing Specialist for BHC Management. Mr. Cunningham received his Bachelor of Science in Urban and Regional Studies from Virginia Commonwealth University.

John Bolton, Director of Real Estate – Multi-Family, joined BHC in 2015 as Director of Real Estate – Multi-Family. In this role, he oversees the development of BHC’s multi-family rental communities. John has more than 17 years of experience in local government planning and real estate development. Prior to joining BHC, he served as Program Officer for the Virginia office of Local Initiatives Support Corporation (LISC) where he managed local deployment of LISC’s lending resources and special programs including predevelopment through construction for housing and commercial projects; capacity building grants for area non-profits; small business finance; health centers; healthy foods initiatives, and collaborations with LISC’s affiliates National Equity Fund and New Markets Support Company to offer a variety of tax credit equity. John worked in a variety of for- and non-profit community development corporations as well as in the public sector, including Community Housing Partners and the James Doran Company in Charleston, SC, where he oversaw mixed-use development activities throughout the Southeast. John’s public sector career included local government planning, development review, building code administration and code enforcement activities. He earned two degrees from Clemson University: a Bachelor of Science in Aquaculture, Fisheries, and Wildlife Biology; and a Professional Masters in City and Regional Planning.

Jon M. Barrett, Vice President of Property Management, joined BHC in 2014 and is in charge of managing approximately 1500 apartment units. He began his career in the property management industry in 1982 in Tampa, FL. In the more than three decades since he has been responsible for the operating performance of both multifamily and commercial real estate portfolios from coast to coast. Prior to joining The Better Housing Coalition, Jon served as Regional Director – Western US for Preservation Management, Inc. where he was responsible for a portfolio of affordable communities over a 9 state region.Jon holds a Bachelor of Arts Degree in Business Administration from The University of South Florida, the Certified Apartment Property Supervisor designation from the National Apartment Association, the Registered Apartment Manager designation from The National Association of Homebuilders, the a Tax Credit Compliance Specialist certificate from Quadel Consulting. He also holds a current Texas Real Estate Broker’s License.

Laura Williamson, CAP-OM, Executive Assistant to the CEO, supports the President/CEO, theBHC Board of Directors, and the Senior Project Manager. She is responsible for gatheringinformation for parts of the tax credit applications, processing various state/federal forms,maintaining recorded documents in BHC’s electronic and paper filing systems, and variousfunctions supporting projects and tasks of the senior management team. She serves as a NotaryPublic for the Commonwealth of Virginia at large. She earned her B.A. at Radford University in1975. In 2010, the International Association of Administrative Professionals (IAAP)® certifiedher with their Certified Administrative Professional (CAP)® rating including a specialty inOrganizational Management (OM). Joining BHC in 2005, Mrs. Williamson brings professionaladministrative support experience from both the private (non-profit and for-profit) and publicsectors.

With an excellent record of staff retention, our team is stable in its role as a coordinating entityproviding project management, physical development, coordination with other services related todevelopment and counseling. The expertise offered by our team encompasses all tasks asassigned to staff in our work plan.

GRETA J. HARRIS 3605 Noble Avenue Richmond, VA 23222

T: 804.338.9436 E: [email protected]

EXPERIENCED NON-PROFIT EXECUTIVE Versatile professional with highly developed and portable skills in relational cultivation and stewardship, business operations, project administration, enterprise-wide planning and change management. Experience includes a proven record of success in the private and non-profit sectors; excellent leadership and team-building attributes; fiscal discipline and budget management; and oral and written communication skills.

AREAS OF EXPERTISE

Advocacy Collaboration External Relations Financial Management Human Resources Issue Analysis & Response Marketing Organizational Development Real Estate Development & Finance Resource Development Strategic Planning & Implementation Team Leadership & Mentoring Urban Planning

PROFESSIONAL EXPERIENCE

Better Housing Coalition, Richmond, VA 2013 – Present Regional community development non-profit corporation President & CEO, 2013 – Present Oversees the Better Housing Coalition’s (BHC’s) strategic growth and mission of changing lives and transforming communities through high-quality, affordable housing. Leads BHC’s operational areas: real estate development, construction, property management, resident support services, external affairs and administration.

Local Initiatives Support Corporation (LISC), New York, NY 1997 – 2013 National community and economic development non-profit corporation Program Vice President, 2006 – 2013 Provided strategy, resource, knowledge and communication linkages between the corporate headquarters and its local offices in the southern and mid-west regions, to manage effective environmental change, leverage community opportunities and ensure organizational sustainability.

• Provided tactical guidance and support to the local staff and advisory leadership in designing and implementing “Sustainable Communities” strategies and other programmatic activities to ensure their effective implementation and budget sensitivity that support the LISC mission;

• Managed local office transitions by working with advisory committee volunteers, key stakeholders and staff to implement expeditious, thoughtful and transparent search processes that yield quality new executive level leadership identification and assimilation into LISC;

• Lead periodic local site assessments to evaluate strategic effectiveness or to determine environmental relevance and, when required, lead the wind-down of physical locations providing leadership in such areas as communication dexterity, office logistics, loan and program portfolio administration, and skilled relationship management to safeguard partner connections in affected markets; and

• Initiated and delivered learning opportunities for regional staff to enhance knowledge sharing, strengthened local office team building, increase individual leadership accountability and provided colleague networks that fortified their ability to deliver quality, scaled community impacts.

Senior Program Director, 1997 - 2006 Managed the day-to-day operations of the Virginia office of LISC including: advisory committee recruitment and stewardship, business planning oversight and public relations outreach.

GRETA J. HARRIS PAGE TWO • Recruited key volunteer leadership, lead innovative strategic planning, and designed creative

marketing campaigns to raise more than $15 million of philanthropic donations and below-market investment capital to further the community building mission of LISC;

• Invested in growing capacity within community-based organizations to strengthen their business operations, capital access and reinvestment strategies, resulting in over $250 million of real estate development within the Central Virginia region; and

• Brokered collaborative public/private relationships that helped to yield nationally recognized community development initiatives such as “Neighborhoods in Bloom,” the Richmond Neighborhood Indicators Project (a GIS impact measurement tool) and the first 501-C-3 bond issuance for LISC.

Richmond Neighborhood Housing Services, Inc., Richmond, VA 1992 – 1997 Nationally affiliated non-profit community development corporation Executive Director Led the comprehensive restructuring of a failing non-profit corporation that transformed a mediocre community organization into a multi-million dollar neighborhood investment institution that provided home ownership development, affordable residential lending and resident engagement activities.

• Created multiple new business lines resulting in additional revenues that increased organizational net worth by more than 500% over three years; and

• Founded the Richmond Community Development Alliance, a trade association, to provide educational and coalition-building activities that supported the neighborhood revitalization industry and more than doubled local public sector support within five years.

Greater Germantown Housing Development Corporation, Philadelphia, PA 1989 - 1992 Non-profit community development corporation Project Developer Assembled multiple financing sources and managed legal, design/construction and lease-up activities for Hamill Mill Apartments, a $3.5 million, 40 unit affordable elderly housing development; and assisted in the design and financing oversight of a HUD 202 funded, 60 unit elderly housing project and a 33,000 square foot shopping center that generated more than 50 new jobs.

PRIOR PROFESSIONAL EXPERIENCE Provided nearly seven years of cumulative architectural design and construction management services with firms located in New Jersey, New York and Virginia that resulted in more than $20 million of quality residential, commercial and institutional real estate development.

PROFESSIONAL MEMBERSHIPS (Past & Present)

City of Richmond – Economic Development Authority Board Member Federal Reserve Bank – Board of Governors - Consumer Advisory Council Member Federal Reserve Bank of Richmond - Community Development Advisory Council Inaugural Member and Former Chairperson Leadership Metro Richmond Alumnus (Class of 1995) Metro Richmond YMCA Board Member National Academy of Public Administration - High Performance Partnerships Study Richmond Team Member Richmond Community Development Alliance Founding Member and Former President Robert Wood Johnson Foundation - Urban Health Initiative Fellows Program Inaugural Fellow Seven Hills Boys Middle School Board Member United Negro College Fund Leadership Council Member Virginia Housing Coalition Board Member and Former President

GRETA J. HARRIS PAGE THREE

EDUCATION

Columbia University, New York, NY 1985 Master of Science in Architecture and Urban Design

Virginia Polytechnic Institute and State University, Blacksburg, VA 1983 Bachelor of Architecture

BHC Board of Directors

As of March 2, 2018

Mr. Neil Amin – CEO Shamin Hotels635 Walsing Drive Richmond, VA 23229Years Completed as of 12/2018: 8.5

Ms. Freda Green Bolling – Program Administravive Specialist II, VA Dept. of Health, Division of Nutrition2215 Q Street Richmond, 23223-5149Years completed as of 12/2018: 8.5

Mr. Philip A. Brooks – Managing Principal, McNeil Street, LLC30 Rio Vista Lane Richmond, 23226Years completed as of 12/2018: 8

Ms. Regina Chaney – Housing Education Specialist, HOME Inc.515 North 32nd Street Richmond, 23223Years completed as of 12/2018: 4

Mr. Andrew Clark – Vice President of Government Affairs, Home Builders Association of Virginia513 N. Boulevard, Apt. 5Richmond, VA 23220Years completed as of 12/2018: 1

Ms. Gwen Corley Creighton – Program Director, Richmond Promise Neighborhood1202 Confederate AvenueRichmond VA 23227-4402Years completed as of 12/2018: 1

Mr. Richard D. Dickinson – Executive VP/Senior Credit Officer, TowneBank6318 Ridgeway Road Richmond, VA 23226Years completed as of 12/2018: 2

Ms. Jane C. Ferrara – COO, Economic & Community Development, City of Richmond1902 Hanover Avenue

Richmond, VA 23220Years completed as of 12/2018: 2

Ms. Veronica Fleming – Executive Director, Partnership for Families, Inc.4721 Louisiana Street Richmond, VA 23231Years Completed as of 12/2018: 2

Mr. Randy B. Gonzalez – Senior VP, Chief Commercial Credit Officer, Virginia Credit Union2516 East Grace Street Richmond, 23223Years completed as of 12/2018: 2

Mr. Barrett Hardiman – Senior Government Relations Manager, Genworth Financial 2722 Griffin Avenue Richmond, VA 23222-3627Years completed as of 12/2018: 1

Mr. Atma Iyer – Managing VP, Financial Services Division, Capital One Services, LLC6357 Haley Way Frisco, TX 75034Years completed as of 12/2018: 5

Mrs. Laura D. Lafayette – CEO, Richmond Association of REALTORS6043 Corwin Drive Glen Allen, VA 23059Years completed as of 12/2018: 8

Mr. R. Wheatley McDowell – Managing Director and Portfolio Manager, Richmond Capital Management2 River Road Richmond, VA 23226Years completed as of 12/2018: 7

Mr. Wally "Walter J." O'Brien, Jr. –CEO, Brand Builders Unlimited300 N. Ridge Street #51Richmond, VA 23229Years completed as of 12/2018: 8

BHC Board of Directors

As of March 2, 2018

Mr. Michael J. Schewel – VP, General Counsel and Secretary, Tredegar Corporation318 Greenway Lane Richmond, 23226Years completed as of 12/2018: 8

Mr. Paul H. Sheehy – President, Grayco Inc8916 Norwick Road Richmond, VA 23229Years completed as of 12/2018: 1

Mr. R. Scott Ukrop – Director, Business Development, New Richmond Ventures6024 St. Andrews Lane Richmond, 23226Years completed as of 12/2018: 6

Mr. Todd Waldo – Enterprise Engineering Manager, EAB2609 East Grace Street Richmond, 23223Years competed as of 12/2018: 4

Mr. Michael D. Williams – Head of Wealth Management, PARKSTERLING Wealth Managment10386 Cherise Court Mechanicsville, VA 23116 Years completed as of 12/2018: 2

Market Square IV 2018 Nonprofit Questionnaire –Additional Sheet

1

2.a. Explain in detail the genesis of the formation of the non-profit:

In 1988, a Richmond’s active community volunteer and a recent graduate of VCU’s graduate school of Urban Planning initiated conversations to create an efficient organization to unite area CDC’s for collaboration in training, fund raising, advocacy and communication. They gathered initially for a retreat to share ideas and to begin to develop the trust necessary to work together. The group then selected a board, officers and committees, created bylaws and articles of incorporation, and applied for 501(c)(3) status. Richmond Better Housing Coalition began formal operation late in 1988.

2.g. Explain in detail the past experience of the non-profit including, if applicable, the past experience of any other related non-profit of which the non-profit is a subsidiary or to which the non-profit is otherwise related (by shared directors, staff, etc.:

BHC invited Local Initiatives Support Corporation (LISC) to Richmond and raised $500,000 from the corporate community in matching funds to start-up the Richmond LISC program. The two organizations opened joint offices in 1990 at the Virginia Housing Center. Initially, BHC served as an advocate for affordable housing and a supporter of emerging CDC’s. As the CDC’s became more proficient and began construction projects with funding and technical assistance from LISC, BHC began to focus on housing production, forming partnerships with neighborhood groups to revitalize their communities. To date, BHC has produced over 1,500 for-sale and rental housing units in the West Cary Street area, Chesterfield County and Henrico County. See Organizational Profile in Tab E. Affiliate nonprofit organizations include Richmond Affordable Housing (RAH), Affordable Residences in Chesterfield (ARC), Affordable Residences in Chesterfield II (ARC II), BHC Management Company (formerly Integrated Property Management Systems (IPMS)) and Richmond Urban Senior Housing, Inc. (RUSHI). See attached Affiliate Nonprofit Entities Chart.

2.h. If you included in your answer to the previous question information concerning any related non-profit, describe the date of legal formation thereof, the date of IRS 501(c)(3) or 501(c)(4) status, its expected life, its charitable purposes and its relationship to the non-profit.

Affordable Residences of Chesterfield was legally formed January 15, 1997, and is dedicated to providing elderly persons with housing facilities and services specially designed to meet their physical, social and psychological needs, and to promote their health, security, happiness and usefulness in longer living. IRS 501(c)(3) status was received on July 31, 1997, and is expected to have an ongoing life cycle.Affordable Residences of Chesterfield II was legally formed January 24, 1997, and is dedicated to providing low- and very low-income persons and families with affordable, sanitary, safe and decent housing facilities, thereby promoting their health, security, happiness and usefulness in longer living. IRS 501(c)(3) status was received on May 9, 1997, and is expected to have an ongoing life cycle.BHC Management Company (formerly Integrated Property Management Systems, Inc.) was formed April 16, 1998, and is dedicated to providing housing management services to the partnerships and corporations affiliated with BHC. IRS 501(c)(4) status was received on November 13, 2003, and is expected to have an ongoing life cycle.


2

Richmond Affordable Housing was legally formed on May 6, 1997, and is dedicated to providing low-and very low-income individuals and families with affordable, sanitary, safe and decent housing facilities, thereby promoting their health, security, happiness and usefulness in longer living. IRS 501(c)(3) status was received on May 8, 1997, and is expected to have an ongoing life cycle.Richmond Urban Senior Housing, Inc. was legally formed on February 15, 2000, and shares the same mission as Affordable Residences of Chesterfield. IRS 501(c)(3) status was received on October 2, 2001, and is expected to have an ongoing life cycle.BHC staff serve s as the staff for each nonprofit affiliate and there is some overlap between the respective boards of directors.

3.d.ii. Describe the nature and extent of the non-profit’s involvement in the operation or management of the Development throughout the Extended Use Period (the entire time period of occupancy restrictions of the low-income units in the Development):

In 1998, BHC created an affiliate non-stock corporation to manage all of its rental property – BHC Management Company (BHCM) (formerly Integrated Property Management Systems, Inc.). BHCM will be responsible for all phases of management of this property throughout the compliance period including marketing, leasing, maintenance, financial reporting and tax credit compliance. BHC’s Vice President of Property Management oversees all property management operations and reports to the COO.See attached Estimate of Time Allocation and Organizational Charts.

3.m. Disclose any business or personal (including family) relationships that any of the staff members, directors or other principals involved in the formation or operation of the non-profit have, either directly or indirectly, with any persons or entities involved or to be involved in the Development on a for-profit basis including, but not limited to the Owner of the Development, any of its for-profit general partners, employees, limited partners or any other parties directly or indirectly related to such Owner.

W. Barry Hofheimer is a board director of the BHC Management Company, a separate corporation from BHC. As a commercial real estate broker, from time-to-time his firm represents BHC properties and the firm earns commissions based on this representation. In addition, his firm presents properties listed for others to BHC as opportunities, which they may find of interest.Richard Dickinson is a board director and BHC Board Treasurer. He works for TowneBank, which is a potential lender.

4.q. Has the non-profit been an owner or applicant for a development that has received a reservation in a previous application round from the Virginia Housing Partnership or the VHDA Housing Funds?

VHPF – Cary 2000 Phases I, II and III; Dabbs House Senior Apartments (Carter Woods); Jefferson Mews and Columns on Grove; Affordable Historic Housing (AHH).


3

VHF – Cary 2000 Phases II and III; Jefferson Mews.VHDA Housing Fund – Market Square Elderly Housing Phases I, II and III; Dabbs House Senior Apartments (Carter Woods Phase II), Lincoln Manor and Randolph Place.

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NAME OF OWNER NAME OF SPONSOR

NUMBER OF UNITS

NAME OF PROJECT LOCATION STATUS PROGRAM COMMUNITY

PARTNERSAffordable

Residences in Chesterfield

ARC Non-Profit

501c3

BHC Sponsor 82 Units Senior

Rockwood Village Age 62+

Price Club Blvd. Chesterfield Occupied HUD Section

202

Rockwood Resident Advisory

Council

Affordable Residences in Chesterfield, II

ARC IINon-Profit

501c3

BHC Sponsor

240 Townhouses

13,000 s.f. Childcare Center

Winchester Greensoff Jeff. Davis

Highway Chesterfield

Occupied

HUD Grant 501(c)(3)

Bonds CDBG

Winchester Greens Resident Council Jeff. Davis Hwy. Business Council

Bensley Civic Assoc.

Richmond Urban Senior Housing, Inc.

RUSHI Non-Profit

501c3

BHC Sponsor 71 Units Senior

Monarch Woods Age 62+

Jahnke & German School

Roads Chesterfield

Occupied HUD Section 202

Jahnke Road Community

Development Assoc.

na na Winchester Greens Single Family

off Jeff. Davis Highway

Chesterfieldna na na

PAD South, Managing Member

RAH, owner of 100% of PAD South stock

Winchester Commons, LLC

Winchester Commons, LLC II

na 2 1617-1621 Grove Avenue, LP

23 W. Broad Street

RichmondOccupied na na

BHC Management Company

BHCM Non-Profit

501c4

Management Corporation

All BHC sponsored rental

developments (see attached

multifamily chart)

BHC Management Company

23 W. Broad Street

Richmondna na na

Better Housing CoalitionAFFILIATE NONPROFIT ENTITIES

(Non-Tax Credit)

Bank Offices Retail

Winchester Greens Commercial

off Jeff. Davis Highway

Chesterfieldna na na

Richmond Affordable Housing

RAHNon-Profit

501c3

NAME OF PROJECT LOCATION

Cary 2000 Townhouses

2200 Block of W. Cary Street Occupied/Sold

Columns on GroveAge 55 +

1617-1621Grove Avenue Occupied

Market SquareAge 55 +

7300 Taw StreetChesterfield

CountyOccupied

Market Square Phase IIAge 55 +

7310 Taw StreetChesterfield

CountyOccupied

Market Square Phase IIIAge 55 +

7101 Bensley Commons Lane

Chesterfield County

Occupied

Carter Woods Age 62+

301 Dabbs House Road

Henrico CountyOccupied

Carter Woods Phase IIAge 62+

301 Dabbs House Road

Henrico CountyOccupied

St. Andrew's Affordable Historic

Housing (AHH)

Scattered SitesNear West End Occupied

Randolph Place300 South

Randolph Street Richmond

Occupied

Lincoln Mews 4101 North Avenue Occupied

Lincoln Mews II 4101 North Avenue Occupied

Claiborne Square 518 Halifax Street Petersburg Occupied

Somanath (formerly 28th Street) Seniors

1208 North 28th Street Occupied

North Oak I 617 West Laburnum Avenue Occupied

City Scattered Sites East

Jefferson Mews + Spring Hill sites Occupied

City Scattered Sites West Old Cary I & II Occupied/Sold

2230, 2236, 2238.5 Venable Street

Pre-development

2009

2016

(pending)

1994, 2013

2011

2011

2009

1992-1993

Better Housing CoalitionList of LIHTC Projects

1996

Status Funding Cycle

1994

1994

2001

2008

2004

2003

2005

1999

2007

F

Architect’s Certification (Mandatory & Points)

2018

G

Relocation Plan (Mandatory for LIHTC projects where tenants will be dislocated)

2018

H

PHA/Section 8 Notification Letter

2018

PHA or Section 8 Notification Letter

DATE:

TO:

RE: PROPOSED AFFORDABLE HOUSING DEVELOPMENT

Name of Development: Name of Owner:

I would like to take this opportunity to notify you of a proposed affordable housing development to be completed in your jurisdiction. We are in the process of applying for federal low-income housing tax credits from the Virginia Housing Development Authority (VHDA). We expect to make a representation in that application that we will give leasing preference to households on the local PHA or Section 8 waiting list. Units are expected to be completed and available for occupancy beginning on ____________________________ (date).

The following is a brief description of the proposed development:

Development Address:

Proposed Improvements:

New Constr.: # units # Bldgs Adaptive Reuse: # units # Bldgs Rehabilitation: # units # Bldgs

Proposed Rents:

Efficiencies: $ / month 1 Bedroom Units: $ / month 2 Bedroom Units: $ / month 3 Bedroom Units: $ / month 4 Bedroom Units: $ / month

Other Descriptive Information:

201

Market Square IV


4/1/2020

7400 Taw St. North Chesterfield, VA 23237

60 1

475-700550-800

Market Square IV is a 60 unit new construction senior development in Chesterfield County at the Winchester Greens campus.

The exterior will be 80% brick and 20% Hardiplank siding. The project will have access to various existing commercial and

community health amenities.

2/19/18

Orlando ArtzeRRHA

901 Chamberlayne Parkway, Richmon

I

Locality CEO Response Letters

2018

CEO Letter of Support

Form and Information sent to Chesterfield

County 2-21-18

Response or ‘No

Comment’ from locality Due by March 16, 2018

at 2pm

J

Homeownership Plan

2018

K

Site Control Documentation

(Mandatory)

2018

5

Exhibit A

Property Description

ALL that certain piece or parcel of land with the appurtenances thereunto belonging, lying and being in Bermuda District, Chesterfield County, Virginia, designated as Parcel "D", containing 2.836 acres, or 1233,554.83 S.F., on a plat made by Steven B. Kent & Associates, PC, Land Surveyors, dated September 24, 2013 entitled "PLAT OF PROPERTY SITUATED ON THE WESTERN LINE OF JEFFERSON DAVIS HIGHWAY, NORTH AND SOUTH LINE OF BENSLEY COMMONS BOULEVARD AND NORTH SIDE OF ALCOTT ROAD BERMUDA DISTRICT, CHESTERFIELD COUNTY, VIRGINIA," recorded January 22, 2014 in the Clerk's Office, Circuit Court, Chesterfield County, Virginia in Plat Book 221, Page 75 and 76 , reference to which is hereby made for a more particular description of the property herein conveyed.

BEING a portion of the same real estate conveyed to Richmond Affordable Housing, a Virginia nonstock corporation, by Deed of Gift from Affordable Residences in Chesterfield, II, a Virginia nonstock corporation, dated February 1, 1999, recorded February 11, 1999 in the Clerk's Office, Circuit Court, Chesterfield County, Virginia in Deed Book 3492 , Page 74343 .

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REVISION DESCRIPTION

These plans and associated documents are the exclusive property of TIMMONS GROUP and may not be reproduced in whole or in part and shall not be used for any purpose whatsoever, inclusive, but notlimited to construction, bidding, and/or construction staking without the express written consent of TIMMONS GROUP.

S:\401\40541-Market_Square_Senior\DWG\Sheet\Exhibit\40541-401C-VHDA EXHIBIT.dwg | Plotted on 2/16/2018 10:35 AM | by Shawn Smith

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TAX ACCOUNT #: 112839

JANUARY 1 OWNER: RICHMOND AFFORDABLE HOUSING

PARCEL ID: 790678849900000

PROPERTY ADDRESS: 7400 TAW ST

LEGAL DESCRIPTION: W/L JEFFERSON DAVIS HWY PAR D

LAND VALUE BLDG VALUE TOTAL VALUE

ORIGINAL: $370,600.00 $0.00 $370,600.00ADJUSTED: $370,600.00 $0.00 $370,600.00

2017 TAX RATE PER $100: 0.96ANNUAL TAX: $3,557.76

Current balance as of 2/5/2018: $0.00

2017 Assessments

- 2017 (2nd half): $0.00

TAX YEAR HALF TAX PENALTY INTEREST FEES ADJUSTMENTS/PAYMENTS TOTAL DUE

Real Estate 2017 2 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

- 2017 (1st half): $0.00


Real Estate 2017 1 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

- 2016 (2nd half): $0.00


Real Estate 2016 2 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

- 2016 (1st half): $0.00


Real Estate 2016 1 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

- 2015 (2nd half): $0.00


Real Estate 2015 2 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

- 2015 (1st half): $0.00


Real Estate 2015 1 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

DISCLAIMER

Please note that the real estate tax bill information located on this website is not the official real estate tax accountsreceivable records of Chesterfield County. The official real estate tax accounts receivable records are located in the

Account History for Parcel 790678849900000 http://www.chesterfield.gov/eServices/RealEstateAssessments/LegacySe...

1 of 2 2/5/2018, 11:10 AM

$370,600.00 $370,600.00$370,600.00 $370,600.00

2017 Assessments

Treasurer's Office and may include additional collection fees. While the Treasurer's Office has attempted to ensure that theaccounts receivable data contained herein is accurate, Chesterfield County makes no warranties, express or implied,concerning the accuracy, completeness, reliability, or suitability of this data. This service is not intended as a title searchand the tax bills presented through this service may NOT represent all taxes due on a parcel as tax I.D. splits/changes arenot reflected. Please contact the Treasurer's Office at (804) 748-1201 during normal business hours to obtain the totalamount due on the parcel including any additional collection fees.

MAKE CHECKS PAYABLE AND MAIL TO:TREASURER, CHESTERFIELD COUNTYP.O. BOX 70, CHESTERFIELD, VA 23832


2 of 2 2/5/2018, 11:10 AM

L

Plan of Development Certification Letter

2018

M

Zoning Certification (Mandatory)

2018

N

To certify Developer Experience, include:

Copies of 8609s to Partnership Agreements Org Charts

2018

Notes: Updated: 2/21/2018

Listed if documentation supported at least 6 LIHTC developments

1 Alexander, Randall P. 26 Gardner, Mark E. 51 Orth, Kevin2 Arista, Roberto 27 Gunderman, Timothy L. 52 Park, Richard A.3 Barnhart, Richard K. 28 Haskins, Robert G. 53 Park, William N.4 Baron, Richard 29 Heatwole, F. Andrew 54 Pasquesi, R.J.5 Bennett, Vincent R. 30 Honeycutt, Thomas W. 55 Pedigo, Gerald K.6 Burns, Laura P. 31 Hunt, Michael C. 56 Poulin, Brian M.7 Connelly, T. Kevin 32 Jester, M. David 57 Queener, Brad8 Connors, Cathy 33 Johnston, Thomas M. 58 Ripley, F. Scott9 Copeland, M. Scott 34 Jones Kirkland, Janice 59 Ripley, Ronald C.

10 Copeland, Robert O. 35 Kirkland, Milton L. 60 Ross, Stephen M.11 Copeland, Todd A. 36 Kittle, Jeffery L. 61 Salazar, Tony12 Cordingley, Bruce A. 37 Koogler, David M. 62 Sari, Lisa A.13 Crosland, Jr., John 38 Koogler, David Mark 63 Sinito, Frank T.14 Curtis, Lawrence H. 39 Lancaster, Dale 64 Stockmaster, Adam 15 Daigle, Marc 40 Lawson, Phillip O. 65 Stoffregen, Phillip J.16 Dambly, Mark H. 41 Lawson, Steve 66 Surber, Jen17 Deutch, David O. 42 Leon, Miles B. 67 Woda, Jeffrey J.18 Dischinger, Chris 43 Lewis, David R. 68 Wohl, Michael D.19 Douglas, David D. 44 Margolis, Robert B. 69 Wolfson, III, Louis 20 Ellis, Gary D. 45 McCormack, Kevin21 Fekas, William L. 46 McNamara, Michael L.22 Fitch, Hollis M. 47 Melton, Melvin B.23 Fore, Richard L. 48 Midura, Ronald J.24 Franklin, Wendell C. 49 Mirmelstein, George25 Friedman, Mitchell M. 50 Nelson, IV, John M.

NON-PROFITS, LHAs & (PUBLICLY TRADED) CORPORATIONS

1 AHC, Inc.2 Alexandria RHA3 Arlington Partnership for Affordable Housing (APAH)4 Better Housing Coalition5 Buckeye Community Hope Foundation6 Community Housing Partners7 Community Housing, Inc.8 ElderHomes (dba Project: Homes)9 Fairfax County RHA

10 Homes for America, Inc.11 Humanities Foundation, Inc.12 Huntington Housing, Inc.13 Newport News RHA14 NHT-Enterprise Preservation Corporation15 Norfolk Redevelopment Housing Authority16 People Incorporated17 Piedmont Housing Alliance18 Portsmouth RHA19 RHA/Housing, Inc.20 The Community Builders

Listed if 'named' Controlling General Partner or Managing Member (as confirmed by supporting documentation)

See LIHTC Manual for instructions on being added to this list

INDIVIDUALS

Listed if a principal who has developed at least 3 LIHTC deals and has at least $500,000 in liquid assets

VHDA Experienced LIHTC Developers

4 Better Housing Coalition

O

List of LIHTC Projects (Schedule A)

2018

List of LIHTC Developments (Schedule A)

ADD ADDITIONAL PROPERTIES USING NEXT TAB

Development Name: Market Square IVName of Applicant: Market Square IV, LLC

Controlling General Partner or Managing Member: PAD XVIII, LLC

INSTRUCTIONS:1

23

45 Use separate pages as needed, for each principal.

YPrincipal's Name: Y or N

Development Name/LocationName of Ownership Entity and

Phone Number

CGP or 'Named'

Managing Member at the time of

dev.? (Y/N)*

Total Dev. Units

Total Low Income

UnitsPlaced in

Service Date8609(s) Issue

Date

Uncorrected 8823's? (Y/N)

Explain "Y"1 Market Square II; 7310 Taw

St. Chesterfield CountyPAD Chesterfield II c/o BHC Y 42 42 12/26/2002 6/4/2003 N

2 Market Square III; 7101 Bensley Commons Lane,

Chesterfield CountyPAD Chesterfield III c/o BHC Y 69 69 4/4/2006 7/21/2006 N

3 Carter Woods; 301 Dabbs House Road, Henrico

CountyPAD Henrico c/o BHC Y 80 80 12/16/2004 7/6/2005 N

4 Carter Woods Phase II; 301 Dabbs House Road, Henrico

CountyPAD Henrico II c/o BHC Y 72 72 10/20/2006 5/17/2007 N

5 Randolph Place; 300 South Randolph St. Richmond

PAD Randolph Inc. c/o BHC Y 50 50 10/30/2007 3/2/2008 N

6 Lincoln Mews; 4101 North Ave. Richmond

PAD VII, Inc. c/o BHC Y 115 115 1/1/2009 5/26/2010 N

7 Lincoln Mews II; 4101 North Ave. Richmond

PAD VIII, Inc. c/o BHC Y 130 130 8/26/2010 6/20/2011 N

8 Claiborne Square; 518 Halifax St. Petersburg

PAD Claiborne LLC c/o BHC Y 47 47 7/1/2011 4/9/2012 N

9 Somanath Seniors (formerly 28th St Seniors); 1208 N 28th

St. RichmondPAD IX, Inc. c/o BHC Y 39 39 7/17/2013 5/28/2014 N

10 North Oak; 617 North Laburnum Ave. Richmond

Pad XII, Inc. c/o BHC Y 143 115 3/2/2012 10/8/2013 N

11 Jefferson Mews; City Scattered Sites East

PAD XIII, Inc. c/o BHC Y 47 47 5/22/2013 12/3/2014 N

12 Cary Street Preservation; 2000 Block W Cary St. Richmond

Richmond Scattered Sites West, LLC Y 47 47 11/13/2015 7/21/2016 N

13 The Goodwyn at Union Hill; 2230, 2236, 2238.5 Venable St PAD XVI, Inc. c/o BHC Y 52 52 Pending

14 Market Square IV; 7300 Taw Street, Chesterfield County

PAD XVIII, LLC c/o BHC Y 60 60 Pending

1516171819202122232425262728293031323334353637383940

1st PAGE TOTAL: 993 965 97%

LIHTC as % of Total Units

A Schedule A is required for every individual that makes up the GP or Managing Member - does not apply to principals of publicly traded corporations.

* Must have the ability to bind the LIHTC entity; document with partnership/operating agreements and one 8609 (per entity/development) for a total of 6.

Better Housing Coalition / Greta J. Harris, CEO

For each property for which an uncorrected 8823 has been issued, provide a detailed explanation of the nature of the non-compliance, as well as a status statement.

Controlling GP (CGP) or 'Named' Managing Member of Proposed property?*

List only tax credit development experience since 2002 (i.e. for the past 15 years)

A resume is required for each principal of the General Partnership or Limited Liability Company (LLC).

General Organization Background

2.1 BHC MISSION AND VALUES At BHC, all staff are expected to know and to keep BHC’s mission and values at the forefront of their work activities. It is crucial that each staff understand how their role and tasks at BHC contribute to the mission and how other staff make equally valuable contributions through their roles. It is equally important that staff support each other and reinforce each other by providing feedback to others on performance and actively acknowledging the attempts, successes and challenges in carrying out their duties for the benefits of those we serve. CSW staff are responsible for engaging in exploration of the mission and values throughout their tenure at BHC during supervision and at staff meetings. BHC MISSION Better Housing Coalition changes lives and transforms communities through high quality affordable housing.

BHC VALUES WE BUILD OPPORTUNITIES FOR PEOPLE AND COMMUNITIES. While our primary lines of business involve bricks, mortar and building, our ultimate goal is to help people and the places they call home realize their fullest potential. WE CARE, WE LEARN, WE SHARE. We are passionate about our work and each other. As we move towards our mission, we are open to taking calculated risks as long as we learn and grow from these experiences. We want to share our knowledge with one another and our industry to improve community impacts. WE DO WHAT'S RIGHT AND NOT WHAT'S EASY. We stand for integrity. In everything we do, we want to be held accountable for quality, meaningful and respectful service to our residents, partners and colleagues. WE EMBRACE CHANGE FOR GOOD. We seek innovative thinking and action to result in greater efficiencies and effectiveness to advance our mission, improve our company and realize positive community change. WE STRIVE TO BE THE BEST WHILE HAVING FUN. We want to be the best employer, partner and industry leader in making good things happen for the families and communities we serve. We want to utilize the highest standards of excellence in all aspects of our business. As we go about doing our work, we want to have joy in our hearts and smiles on our faces.

2.2 HISTORY OF BETTER HOUSING Better Housing Coalition (BHC), established in 1988, is a private, non-profit community development organization. Our mission: Better Housing Coalition changes lives and transforms communities through high quality affordable housing. Mary Tyler Cheek McClenahan and Carter McDowell initially began Better Housing as a coalition of individuals and organizations interested in improving the quality and quantity of affordable housing choices in the Richmond area. To actualize this concept, T.K. Somanath was hired as BHC’s first executive director. With the help of public, private and non-profit partners and grassroots neighborhood leadership, BHC began to make its impact on the Richmond region. From the beginning of our community revitalization efforts at BHC, we have strategically targeted areas of Richmond and the surrounding counties that would change the face of a community and serve as a catalyst for both physical and social neighborhood change. By building communities and providing services that promote human dignity for all ages and people, by promoting a balance of economic prosperity and environmental responsibility, we seek to make a positive difference in the lives of Virginia residents through community development initiatives that provide citizens the opportunity to enjoy the highest quality of life. For BHC, revitalization means approaching each neighborhood and community that we are invited to work in with a holistic framework for stability and sustainability. A core value of Better Housing recognizes that the rebuilding of neglected communities requires more than bricks and mortar. Once BHC commits to a community, we remain invested over time; we provide dedicated, highly experienced staffs that are devoted to the communities they serve and work in conjunction with residents to address issues of public safety and crime, improve schools and provide real economic development opportunities. Better Housing Coalition recognizes that the success of our housing is measured by the success of our residents. In 1997, BHC began its own property management company to ensure that all residents were treated with respect and to ensure that community assets were maintained for the benefit of all. In 1998, we incorporated community social work services into our neighborhoods and based social work staff on-site. Through the community social work department, we work with residents to improve their social, psychological and economic well-being. The program provides enrichment and intervention services for all age groups and assists residents in building strong communities. As part of our overall mission of rebuilding communities, Better Housing Coalition develops properties that are strategically targeted to increase the supply of affordable housing and to stimulate neighborhood residential and commercial development. BHC’s investment has been a catalyst for other public and private investment. Blight has been replaced with renovated homes and new homes blend seamlessly into the historical fabric of the neighborhoods. Since the founding of BHC, nearly 1500 affordable rental apartments and 200 homes for first time homebuyers have been built representing an investment of over $100 million. BHC’s programs have served over 3000 families.

2.3 OVERVIEW OF ORGANIZATION OF BETTER HOUSING Better Housing is comprised of a number of different departments and areas that work together to accomplish our mission. The areas below provide a general description of the main components of BHC and an organizational chart has been included in the appendix. In 2018, there are over 60 employees of BHC. Development This area consists of the planning, acquisition, financing and building of both our multi-family properties as well as our single family homes. This department works closely with accounting, asset management and property management. Community social work intersects with development during the planning phase of a community and sometimes when relocation is involved in a multi-family revitalization effort. CSW staff also work with the single family component of this area to help residents learn about the possibilities of home ownership. This department is located at the main office and is often at sites during construction. Property Management (BHCM) The main responsibility of the property management company is to ensure that BHC assets are maintained and viable for the good of the entire community. Their principle tasks consist of leasing, collecting rent and other fees as appropriate, ensuring compliance with the lease and all local, state and federal requirements, ensuring compliance with financing entity’s requirements and ensuring that physical buildings and land of the communities are safe and appropriately maintained. Maintenance staff ensure that the systems in resident units are working properly and common spaces and external areas are clean, safe and attractive. In addition, property management staff work to create a welcoming and vibrant community through celebrations and events, often in conjunction with resident services staff. Staff in this area is located at the main office and at the individual BHC communities. Administration & Accounting and External Affairs Staff in this area provide services for BHC as a whole organization through governance and leadership, managing finances, asset management, human resources, fund raising and promoting the organization to others. CSW works closely with external affairs for fund raising purposes and for marketing purposes. There are many different staff that contribute to these functions and most are located at the main office. Community Social Work/Resident Services Community social work staff is charged with assisting BHC residents to reach their individual and household goals. Staff also works with BHC communities as a whole to build and enhance both formal and informal networks and support resident leadership and special initiatives. CSW works closely with property management staff to prevent evictions and maintain stability in our communities. Staff in this department often rotate to various sites and work directly in our larger family communities. Please see the following sections for more detailed information about CSW

3.1 BHC COMMUNITY SOCIAL WORK HISTORY As mentioned previously, the community social work department began in 1998. At that time, the sole social worker provided outreach into the Cary 2000 community, then a newly revitalized neighborhood of apartment homes and renovated single family dwellings. She also worked with the elders at Columns on Grove, an age-restricted community in the fan. The social worker’s role at Cary 2000 at that time was to provide assistance to families and other BHC residents and also to support the general community building in the larger neighborhood. A small after-school program existed on Rowland Street where property management and social work staff were located. Community organizing was an integral strategy with a focus on crime reduction. Work at Columns focused on individual case management and service referrals. When Better Housing Coalition began revitalization plans began at Winchester Greens, then Park Lee Apartments, in Chesterfield, social work staff worked with existing residents, BHC administration and staff, Chesterfield County staff, architects, the newly created property management department and other interested stakeholders such as the area school principle, sports coaches, leaders of faith communities and others to help residents determine what they desired and what was needed in their new community. This bottom-up approach formed the blueprint for the new community, Winchester Greens. Through participatory research conducted by the residents themselves with guidance from VCU School of Social Work, neighbors were very clear that they wanted a diverse community: they wanted to live with people of different incomes, races, ages, family make-up. They stated that they needed affordable child care and access to employment assistance. It was important that children were safe after school while parents worked. Transportation was a significant challenge. Through the efforts of the residents, the development, property management and the social work teams and with extraordinary assistance from Chesterfield County departments, the poverty stricken and crime ridden Park Lee was transformed over several years into a beautiful, safe, economically diverse community that anyone would be proud to call home. Social work services began to change at this time from a ‘doing for’ model to a ‘doing with’, teaching/coaching model. Externally, welfare reform pushed consumers to change behavior as did the enforcement of the lease by property management. Slowly, through intensive family and community work, on-site after school program and a caring community, the culture of Winchester Greens began to change in a positive manner and residents began to hold each other accountable for the consequences of their actions. Crime was reduced, school truancy became unacceptable, fewer children dropped out of school and graduation rates increased. The first college bound graduates were celebrated far and wide. Today, Market Square Senior Apartments exist on the Winchester Greens campus as do commercial neighbors and a child care center. The blueprint created by the residents was completed. During this time, many of our smaller communities, Rockwood Village, St Andrews, Randolph Place, Market Square and Monarch Woods, came into being and the number of our independent senior living communities increased. In each community BHC learned many lessons in development, property management and social work. Social work staff increased and became more specialized. CSW staff had backgrounds in nursing, vocational work, adolescent trauma and elder services. Our practice with elders expanded and became focused on assisting seniors to age in place. Health and wellness activities proved very successful and resident’s quality of life was significantly affected in a positive manner and there was a shift in the culture in our oldest senior communities By the time that Carter Woods in Henrico County began to be considered, our model of combining engagement, assessment and both long and short term case management was well-established.

Partnerships were created with public, non-profit organizations and the business community. When BHC moved to Petersburg with an entirely new social services environment, CSW met the challenge well and assisted our newest residents at that time to make Claiborne Square home. Because Winchester Greens was viewed as such a success, there was an expectation and hope that the work done in Chesterfield would transfer to Lincoln Mews on Northside in Richmond. Social work staff was on-site before BHC actually owned this property and was instrumental in assessing the strengths and challenges of this community. Staff also worked closely with the development staff to survey each household about their existing apartment and provided information about what BHC hoped to physically accomplish on North Avenue. Property management staff worked extraordinarily hard together with social work to assist families to vacate their old apartment and move into their new homes. This revitalization used the Winchester Greens model which prevented displacement of community members. A new community center was created; residents could meet and use the services and the after school program had a permanent location. Green space was created, playgrounds were built, new neighbors, some of whom served our country in war, moved in. All staff engaged the community over the past nine years with diligence and patience. It seems that although it has taken a long time, there is a positive and hopeful spirit of engagement at Lincoln Mews these days. All of us together with the residents will further this growth.


Board of Directors

Mike J Schewel

Chairman

Greta Harris

President & CEO

Julie Hovermale

Chief Financial Officer

Accounting and Administration

Monique Johnson

Chief Operating Officer

Jon Barrett

Vice President

Property Management

Property Management

Joyce Jackson

Vice President

Community Social work

Community Social Work

Bernard Rogers

Vice President

Real Estate Development- Multi-Family

Real Estate Development

Lynn McAteer

Vice President

Real Estate Development-Single Family

Karen Miller

Human Resources Generalist

Chris Hairston-White

Vice President

External Affairs

Laura Williamson

Executive Assistant to CEO

Accounting & Administration

Juli

e H

ove

rma

le

Ch

ief

Fin

anci

al O

ffic

er

Cindy Coghill

Construction Accountant

Jennifer Johnson

A/P Clerk

William Smith

Director of Asset Management

Kathie Fors

Property Management

Controller

Shashi Mysore

Corporate Controller

External Affairs

Ch

ris

Ha

irst

on

-Wh

ite

Vic

e P

resi

den

t, E

xter

nal

Aff

airs

Stacie Birchett

Director of Communications

Erica Babcock

Marketing & Communications

Officer

Sarah Fernald

Resource Development Manager

Property Management

Jon

Ba

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tt

Vic

e P

resi

de

nt,

Pro

pe

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Mg

mt.

Veda Florance- Hawkes

Regional Director

Candace Burnett

Property Mgr.

Beckstoffers

Rebecca Cline

Leasing Assistant

Angela Kelley

Property Mgr.

Carter Woods

Kimberly Jefferson

Asst. Property Manager

Richelle Richardson

Property Mgr.

Claiborne Square

Property Mgr.

North Oaks

Tasha Wells

Asst. Property Manager

Bobbie Fields

Property Mgr.

Winchester Greens

Joel Coreas

Ass.t property Mgr.

Natacha Leon

Leasing Assistant

Debbie Potter

Regional Director

Alexis Cox

Property Mgr.

Cary Properties

Marisha Toler

Property Mgr.

Lincoln Mews LaRoya White

Asst. Property Mgr.

Kristen Smith

Leasing Assistant

Richelle Richardson

Property Mgr.

Market Square I & II

Virginia Santos

Property Mgr.

Market Square III

Sholanda Kenner

Property Mgr.

Monarch Woods

Candace Adams

Property Mgr.

Rockwood Village

Tamara Knop

Compliance Officer

Diana Fales

Training Manager & Yardi Specialist

Property Management – Maintenance

Jon

Ba

rre

tt

Vic

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resi

de

nt,

Pro

pe

rty

Mg

mt.

Veda Florance-Hawkes

Regional Director

Candace Burnett

Property Mgr.

Beckstoffer's

Lamar Brodie

Lead Maintenance Technician

Christopher Thomas

Maintenance Tech

Johnnie MaconMaintenance tech

Angela Kelley

Property Mgr.

Carter Woods

Kevin Anthony

Maintenance Technician

DeVaughan Moore

Maintenance Tech

Richelle Richardson

Property Mgr.

Claiborne Square

Ted Drayer

Maintenance Tech

Felicia Haymon

Custodian Worker

Property Mgr.

North Oaks

Robert Jenkins

Main Tech

Bobbie Fields

Property Mgr.

Winchester Greens

Adam Adkins

Site Lead Maintenance Tech

Julio Flores

Main Tech

Alvear Escobar

Main Tech

Christopher Whitehead

Maintenance Tech

Debbie Potter

Regional Director

Alexis Cox

Property Mgr.

Cary Properties

Jerome Johnson

Site Main Tech

Dale Gilbert

Main Tech

Marisha Toler

Property Mgr.

Lincoln Mews

Jason Davis

Site Lead Main Tech

Teracio Dos Reis

Maintenance Tech

Richelle Richardson

Property Mgr.

Market Square 1,2

Carla Pace

Maintenance Tech

Felicia Haymon

Custodian Worker

Virginia Santos

Property Mgr.

Market III

Ted Drayer

Maintenance Technician

Felicia Haymon

Custodian Worker

Sholanda Kenner

Prop. Mgr.

Monarch Woods

Jairo Mejia

Maintenance Tech

Candace Adams

Property Manager

Rockwood Village

Dennis Padgett

Maintenance Tech

Tamara Knop

Compliance Officer

Diana Fales

Training Manager & Yardi Specialist

Community Social Work

Joy

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ork

Gloria Myers

Senior Specialist II

All Senior Sites

Kate Noon

Program Director, Senior Services

Market Square I, II, III, Randolph Place

Ronda Moreta

Resident Services Coordinator

Claiborne Square

Liz Singer


Monarch Woods , Som Seniors, Columns on Grove

Rachel Machacek

Intern

Market Square

Nina Williams

Director of Children & Family Services

Winchester Greens/ Lincoln Mews

Pam Crawford


Lincoln Mews

Kristen Bellard

Career Navigator

Lincoln Mews Kelsey Collett

Resident Coordinator

Carter Woods, Rockwood Village

Lauren Sauerwald

Intern


Real Estate

Lyn

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Tiffany Person

Real Estate Officer

Be

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Fam

ily John Bolton

Director of Real Estate

Multi-Family

Phil Cunningham

Development Associate

Multi-Family

GRETA J. HARRIS 3605 Noble Avenue Richmond, VA 23222

T: 804.338.9436 E: [email protected]

EXPERIENCED NON-PROFIT EXECUTIVE Versatile professional with highly developed and portable skills in relational cultivation and stewardship, business operations, project administration, enterprise-wide planning and change management. Experience includes a proven record of success in the private and non-profit sectors; excellent leadership and team-building attributes; fiscal discipline and budget management; and oral and written communication skills.

AREAS OF EXPERTISE

Advocacy Collaboration External Relations Financial Management Human Resources Issue Analysis & Response Marketing Organizational Development Real Estate Development & Finance Resource Development Strategic Planning & Implementation Team Leadership & Mentoring Urban Planning

PROFESSIONAL EXPERIENCE

Better Housing Coalition, Richmond, VA 2013 – Present Regional community development non-profit corporation President & CEO, 2013 – Present Oversees the Better Housing Coalition’s (BHC’s) strategic growth and mission of changing lives and transforming communities through high-quality, affordable housing. Leads BHC’s operational areas: real estate development, construction, property management, resident support services, external affairs and administration.

Local Initiatives Support Corporation (LISC), New York, NY 1997 – 2013 National community and economic development non-profit corporation Program Vice President, 2006 – 2013 Provided strategy, resource, knowledge and communication linkages between the corporate headquarters and its local offices in the southern and mid-west regions, to manage effective environmental change, leverage community opportunities and ensure organizational sustainability.

• Provided tactical guidance and support to the local staff and advisory leadership in designing and implementing “Sustainable Communities” strategies and other programmatic activities to ensure their effective implementation and budget sensitivity that support the LISC mission;

• Managed local office transitions by working with advisory committee volunteers, key stakeholders and staff to implement expeditious, thoughtful and transparent search processes that yield quality new executive level leadership identification and assimilation into LISC;

• Lead periodic local site assessments to evaluate strategic effectiveness or to determine environmental relevance and, when required, lead the wind-down of physical locations providing leadership in such areas as communication dexterity, office logistics, loan and program portfolio administration, and skilled relationship management to safeguard partner connections in affected markets; and

• Initiated and delivered learning opportunities for regional staff to enhance knowledge sharing, strengthened local office team building, increase individual leadership accountability and provided colleague networks that fortified their ability to deliver quality, scaled community impacts.

Senior Program Director, 1997 - 2006 Managed the day-to-day operations of the Virginia office of LISC including: advisory committee recruitment and stewardship, business planning oversight and public relations outreach.

GRETA J. HARRIS PAGE TWO • Recruited key volunteer leadership, lead innovative strategic planning, and designed creative

marketing campaigns to raise more than $15 million of philanthropic donations and below-market investment capital to further the community building mission of LISC;

• Invested in growing capacity within community-based organizations to strengthen their business operations, capital access and reinvestment strategies, resulting in over $250 million of real estate development within the Central Virginia region; and

• Brokered collaborative public/private relationships that helped to yield nationally recognized community development initiatives such as “Neighborhoods in Bloom,” the Richmond Neighborhood Indicators Project (a GIS impact measurement tool) and the first 501-C-3 bond issuance for LISC.

Richmond Neighborhood Housing Services, Inc., Richmond, VA 1992 – 1997 Nationally affiliated non-profit community development corporation Executive Director Led the comprehensive restructuring of a failing non-profit corporation that transformed a mediocre community organization into a multi-million dollar neighborhood investment institution that provided home ownership development, affordable residential lending and resident engagement activities.

• Created multiple new business lines resulting in additional revenues that increased organizational net worth by more than 500% over three years; and

• Founded the Richmond Community Development Alliance, a trade association, to provide educational and coalition-building activities that supported the neighborhood revitalization industry and more than doubled local public sector support within five years.

Greater Germantown Housing Development Corporation, Philadelphia, PA 1989 - 1992 Non-profit community development corporation Project Developer Assembled multiple financing sources and managed legal, design/construction and lease-up activities for Hamill Mill Apartments, a $3.5 million, 40 unit affordable elderly housing development; and assisted in the design and financing oversight of a HUD 202 funded, 60 unit elderly housing project and a 33,000 square foot shopping center that generated more than 50 new jobs.

PRIOR PROFESSIONAL EXPERIENCE Provided nearly seven years of cumulative architectural design and construction management services with firms located in New Jersey, New York and Virginia that resulted in more than $20 million of quality residential, commercial and institutional real estate development.

PROFESSIONAL MEMBERSHIPS (Past & Present)

City of Richmond – Economic Development Authority Board Member Federal Reserve Bank – Board of Governors - Consumer Advisory Council Member Federal Reserve Bank of Richmond - Community Development Advisory Council Inaugural Member and Former Chairperson Leadership Metro Richmond Alumnus (Class of 1995) Metro Richmond YMCA Board Member National Academy of Public Administration - High Performance Partnerships Study Richmond Team Member Richmond Community Development Alliance Founding Member and Former President Robert Wood Johnson Foundation - Urban Health Initiative Fellows Program Inaugural Fellow Seven Hills Boys Middle School Board Member United Negro College Fund Leadership Council Member Virginia Housing Coalition Board Member and Former President

GRETA J. HARRIS PAGE THREE

EDUCATION

Columbia University, New York, NY 1985 Master of Science in Architecture and Urban Design

Virginia Polytechnic Institute and State University, Blacksburg, VA 1983 Bachelor of Architecture

P

Plans and Specifications or UxU Work Write-Up

(Mandatory)

2018

AttachedSeparately

Q

1. Real Estate Tax Abatement 2. New project based subsidy

from HUD or Rural Development

3. Rental Assistance Documentation (ex. RD/HUD HAP Contract; CHAP contract

2018

Allowances for Tenant-Furnished Utilities and Other Services

U.S. Department of Housing and Urban DevelopmentOffice of Public and Indian Housing

2015 UApro

Locality Green Discount Unit Type Weather Code Date

Richmond Area 2017 None Large Apartment (5+ units) VA007 2017-10-09

Utility/Service Monthly Dollar Allowances

0 BR 1 BR 2 BR 3 BR 4 BR 5 BR

Space Heating Natural Gas $19 $23 $26 $29 $33 $36

Bottle Gas $57 $68 $77 $87 $96 $106

Electric Resistance $14 $16 $21 $24 $27 $31

Electric Heat Pump $12 $14 $17 $18 $18 $19

Fuel Oil $36 $43 $49 $55 $61 $67

Cooking Natural Gas $3 $4 $5 $7 $8 $10

Bottle Gas $9 $10 $15 $20 $24 $29

Electric $5 $5 $8 $10 $13 $15

Other

Other Electric $17 $20 $28 $36 $44 $52

Air Conditioning $7 $8 $11 $15 $18 $22

Water Heating Natural Gas $7 $8 $12 $15 $19 $22

Bottle Gas $20 $24 $34 $45 $55 $66

Electric $11 $13 $17 $20 $24 $27

Fuel Oil $13 $15 $22 $28 $35 $42

Water $21 $23 $33 $50 $68 $85

Sewer $33 $35 $50 $72 $95 $117

Electric Fee $7 $7 $7 $7 $7 $7

Natural Gas Fee $15 $15 $15 $15 $15 $15

Fuel Oil Fee

Bottled Gas Fee

Trash Collection $18 $18 $18 $18 $18 $18

Range/Microwave $12 $12 $12 $12 $12 $12

Refrigerator $14 $14 $14 $14 $14 $14

Other – specify

R

Operating Budget Documentation

2018

2018 Market IV Application - submittal copy Budget, printed 1



Use Whole Numbers Only!Administrative:

1. Advertising/Marketing $4,0402. Office Salaries $79,5663. Office Supplies $8,6014. Office/Model Apartment (type ) $05. Management Fee $22,507

5.08% of EGI $375.12 Per Unit6. Manager Salaries7. Staff Unit (s) (type ) $08. Legal $1,0209. Auditing $4,500

10. Bookkeeping/Accounting Fees $011. Telephone & Answering Service $5,65212. Tax Credit Monitoring Fee $1,67513. Miscellaneous Administrative $8,708

Total Administrative $136,269Utilities14. Fuel Oil $015. Electricity $16,46416. Water $2,65017. Gas $018. Sewer $2,650

Total Utility $21,764Operating:19. Janitor/Cleaning Payroll $020. Janitor/Cleaning Supplies $1,35021. Janitor/Cleaning Contract $022. Exterminating $4,30023. Trash Removal $4,56024. Security Payroll/Contract $4,39525. Grounds Payroll $026. Grounds Supplies $30027. Grounds Contract $8,40028. Maintenance/Repairs Payroll $029. Repairs/Material $6,11830. Repairs Contract $031. Elevator Maintenance/Contract $032. Heating/Cooling Repairs & Maintenance $033. Pool Maintenance/Contract/Staff $034. Snow Removal $75035. Decorating/Payroll/Contract $036. Decorating Supplies $6,00037. Miscellaneous $2,362

Totals Operating & Maintenance $38,535

2018 Market IV Application - submittal copy Budget, printed 2



Taxes & Insurance38. Real Estate Taxes $19,14039. Payroll Taxes $040. Miscellaneous Taxes/Licenses/Permits $041. Property & Liability Insurance $24,78042. Fidelity Bond $043. Workman's Compensation44. Health Insurance & Employee Benefits45. Other Insurance

Total Taxes & Insurance $43,9206544Total Operating Expense $240,488

$4,008 C. 54.31%

Replacement Reserves (Total # Units X $300 or $250 New Const. Elderly Minimum) $15,000

Total Expenses $255,488

Total Operating Expenses Per Unit

Total Operating Expenses as % of EGI

S

Permanent Supportive Housing Certification

2018

T

Financing Sources (incl Subsidized Funding)

Donated land or below market land leases

Financing commitment from Locality or LHA

Tap fee waivers Virginia Housing Trust Fund VOICE $ Bank loan commitment Locality resolution

Subsidized Funding = $ used to reduce development costs (but not REACH $)

2018

Market Square IV

Land Donation

Richmond Affordable Housing (RAH) has agreed to donate the land to Market Square IV, LLC for the value of the 2017 tax assessment. A copy of the donation agreement is enclosed herewith.

Reference Qualified Action plan criteria for non-local government land donations, the following representations are true and accurate:

1. RAH is not a principal in the applicant 2. RAH is not the recipient of a Right of First Refusal 3. RAH does not have any development agreement or other agreement to share in the fees or

ongoing operational cash flow of the proposed development

5

Exhibit A




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TAX ACCOUNT #: 112839

JANUARY 1 OWNER: RICHMOND AFFORDABLE HOUSING

PARCEL ID: 790678849900000

PROPERTY ADDRESS: 7400 TAW ST

LEGAL DESCRIPTION: W/L JEFFERSON DAVIS HWY PAR D

LAND VALUE BLDG VALUE TOTAL VALUE

ORIGINAL: $370,600.00 $0.00 $370,600.00ADJUSTED: $370,600.00 $0.00 $370,600.00

2017 TAX RATE PER $100: 0.96ANNUAL TAX: $3,557.76

Current balance as of 2/5/2018: $0.00

2017 Assessments

- 2017 (2nd half): $0.00


Real Estate 2017 2 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

- 2017 (1st half): $0.00


Real Estate 2017 1 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

- 2016 (2nd half): $0.00


Real Estate 2016 2 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

- 2016 (1st half): $0.00


Real Estate 2016 1 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

- 2015 (2nd half): $0.00


Real Estate 2015 2 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

- 2015 (1st half): $0.00


Real Estate 2015 1 $1,778.88 $0.00 $0.00 $0.00 ($1,778.88) $0.00

DISCLAIMER

Please note that the real estate tax bill information located on this website is not the official real estate tax accountsreceivable records of Chesterfield County. The official real estate tax accounts receivable records are located in the


1 of 2 2/5/2018, 11:10 AM

$370,600.00 $370,600.00$370,600.00 $370,600.00

2017 Assessments

Treasurer's Office and may include additional collection fees. While the Treasurer's Office has attempted to ensure that theaccounts receivable data contained herein is accurate, Chesterfield County makes no warranties, express or implied,concerning the accuracy, completeness, reliability, or suitability of this data. This service is not intended as a title searchand the tax bills presented through this service may NOT represent all taxes due on a parcel as tax I.D. splits/changes arenot reflected. Please contact the Treasurer's Office at (804) 748-1201 during normal business hours to obtain the totalamount due on the parcel including any additional collection fees.

MAKE CHECKS PAYABLE AND MAIL TO:TREASURER, CHESTERFIELD COUNTYP.O. BOX 70, CHESTERFIELD, VA 23832


2 of 2 2/5/2018, 11:10 AM

U

Documentation to Request Exception to Restriction

(Pools w/Little or No Increase in Rent Burdened Population)

2018

V

Non-profit or LHA Purchase Option or Right of First

Refusal

2018

5

Exhibit A




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Attorney’s Opinion (Mandatory)

2018

Y

Marketing Plan (Mandatory for Units Meeting

Accessibility Requirements of HUD Section 504

& Developmental Disability)

This marketing plan must indicate that the development will be listed on virginiahousingsearch.com

2018

Marketing Plan for Units Meeting Accessibility Requirements of HUD Section 504

B H C is submitting a Low Income Tax Creditapplication in March 201 for the development of a unit senior apartment communitylocated a . The total development cost is $ million.It will be new construction on three levels; all units will be designed according to VHDA’sUniversal Design Standards.

. The building will be constructed and certified toEarthcraft Gold standards. The exterior will be 80% brick with the remaining portion“Hardiplank” siding.

The property will be managed by BHC Management, a VHDA certified property Management Company. BHC Management will incorporate a marketing plan for the Section 504 units that include the following elements:

Leasing Policy & Procedure:

The law has certain requirements about filling a unit that is accessible, in addition toVHDA regulations for those with developmental disabilities (DD).

o The unit must first be offered to current residents who have a verified need forthe accessible unit or are verified DD.

A “first preference” will be given for person with a developmentaldisability

o Then the unit may be offered to applicants who have a verified need for the unitfor accessibility or DD reasons.

o If the unit cannot be filled with a person who needs the accessible features, thenthe unit may be rented to an applicant on the waitlist following normal tenantselection procedures and in compliance with VHDA LIHTC program requirements

VHDA Requirements:Units must be held vacant for 60 days during which ongoingmarketing must be documented.Any unit which is designated as a unit for people with disabilitiesand that conforms to Section 504 of the Rehabilitation Act will beheld vacant for sixty days (60). Management, Inc. will documentits marketing efforts to find households with qualified disabilitiesduring this time period. If a qualified tenant is not found, the

marketing evidence will be submitted to VHDA's Program Compliance Officer and request approval to rent the unit to any income-qualified household. If the request is approved, the lease will contain a provision stating that the household must agree to move to a vacant unit if a household including a person with a disability applies for the unit. The move will be paid for by the owner

Marketing Strategies

Property Manager will coordinate with BHC Community Social Work department toidentify residents at other BHC properties that have requested an accessible unit orqualify as DD.Flyers will be mailed or distributed to organizations such as Veterans Administration,Area Agencies on Aging, Virginia Department of Rehabilitative Services (DRS), VirginiaDepartment of Social Services, Housing Opportunities Made Equal (H.O.M.E.),Resources for Independent Living, Social Services, Senior Connections,Goodwill Industries, Sheltering Arms and Richmond Redevelopment and HousingAuthority (RRHA).Property Manager will obtain applicant referrals from the Virginia Department ofMedical Assistance Services (DMAS), Virginia Department of Behavioral Healthand Developmental Services (DBHDS),

and the Richmond Behavioral Health Authority.BHC Management will develop relationships with these referring agencies and othermedical and health service providers and develop memorandums of understanding thatencourage referrals to .BHC Management will maintain a waiting list for all accessible units.The development will be registered and listed onwww.virginiahousingsearch.com, www.betterhousingcoalition.org;

In addition to the resources noted above, the marketing plan may include a combination of paid print and Internet Listing Service (ILS) advertising, social media and targeted outreach marketing to area merchants, health-care providers and social services organizations. In addition, BHC will make presentations to community groups and civic organizations to market the entire project.

AFFIRMATIVE FAIR HOUSING

A. Affirmative Fair Housing Marketing Plan: This project will be marketing without regard to race, color, creed, religion, sex, national origin, handicap, familial status or sexual orientation. All print and online advertisements shall utilize the required statements and symbols of Equal Housing Opportunity and accessibility as required by local, state and Federal regulations. Additionally, all on-site signs for the purposes of directing prospective tenants to the project shall include the Equal Housing Opportunity Logo.

B. Management shall strive to make the availability of the units known to all demographic groups within the area. Marketing activities will be in accordance with the Affirmative Fair Housing Marketing Plan and Fair Housing Law.

C. All employees will receive training regarding Federal Fair Housing and Section 504 Laws. Failure of employees to follow Federal Fair Housing or Section 504 shall result indisciplinary action up to and including termination.

D. All employees will receive training in the proper procedure for accepting and processing all requests for Reasonable Accommodations.

E. All employees will be required to take a minimum of 3 hours of Fair Housing Training annually.

RESIDENT SELECTION

A. BHC Management Company adheres to all Federal Fair Housing Laws prohibiting discrimination based on: age, race, color, sex, sexual orientation, religion, national origin, handicap, disability or familial status.

B. BHC Management Company complies with all local, state and federal laws regarding fair housing practices, occupancy and resident selection procedures.

C. All eligibility/occupancy standards reflect applicable guidelines for the Low Income Housing Tax Credit Program and all applicable requirements as outlined in the Regulatory Agreements and program guidelines and BHC Management Company Resident Selection Criteria.

a. This includes the commitment that there will be no annual minimumincome requirements that exceeds the greater of $3,600 or 2.5 times theportion of rent to be paid by tenants receiving rental assistance.

i. The Resident Selection Plan also allows for gifts of up to $2,400annually that is included in the 2.5 times income qualifying calculation.

2018 federal low income housing tax credit program 9 applications...market square iv - reservation...

Documents