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Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans

Project Description
Project Name: The Cottages
Address: 111 & 132 Mock Circle, 400 blk Jetton Street,and Bradford Park Dr.

City: Davidson County: Mecklenburg Zip: 28036

Census Tract: 64.01 Block Group: 1017

Is project in Qualified Census Tract or Difficult to Develop Area? No

Are you requesting the basis boost under section II(E)(4) of the QAP? No

Political Jurisdiction: Town of Davidson

First:John Last:
Jurisdiction CEO Name: Title: Mayor
Jurisdiction Address: P. O. Box 579

Jurisdiction City: Davidson Zip: 28036

Jurisdiction Phone: (704)892-7591

Site Latitude: 35.2959

Site Longitude: -80.5112

Project Type: New Construction

Is this project a previously awarded tax credit


New Construction/Adaptive Reuse:

Is this project a follow-on (Phase II, etc) to a previously-awarded tax credit development project? Yes

If yes, list names of previous phase(s): The Bungalows

Number of residents holding Section 8

Will the project meet Energy Star standards as defined in Appendix B? Yes

Does a community revitalization plan exist? Yes

Will the project use steel and concrete construction and have at least 4 stories? No (1 of 23)4/14/2009 1:05:14 PM

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Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77?
If yes, please describe:

Target Population:Family
Will the project be receiving project based federal rental assistance? No

If yes, provide the subsidy source: and number of units: (2 of 23)4/14/2009 1:05:14 PM

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Applicant Information
Indicate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. Under
QAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant
must become part of the ownership entity. The applicant will execute the signature page for this application.
Applicant Name: The Affordable Housing Group of North Carolina, Inc.
Address: 1300 Baxter Street, Suite 215

City: Charlotte State: NC Zip: 28204

Contact: First: Kathy Last:Stilwell Title:Deputy Dir.

Telephone: (704)968-7202

Alt Phone: (704)342-3316

Fax: (704)376-8709

Email Address:

NOTE: Email Address above will be used for communication between NCHFA and Applicant. (3 of 23)4/14/2009 1:05:14 PM

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Site Description

Total Site Acreage: 3.51 Total Buildable Acreage: 3.50

If buildable acreage is less than total acreage, please explain:
The Cottages is a scattered site development located on 4 sites in the Town of Davidson. Mock Circle
includes .55 acres on one site and there is a slight encroachment into an adjacent parcel. The adjacent
parcel is owned by the Davidson Housing Coalition and the parcels will be modified to correct the

Identify utilities and services currently available (and with adequate capacity) for this site:

Storm Sewer Water Sanitary Sewer Electric

Is the demolition of any buildings required or planned? Yes

If yes, please describe:
A single home is located on the 132 Mock Circle parcel and will be demolished.

Are existing buildings on the site currently occupied? No

If yes:
(a) Briefly describe the situation:

(b) Will tenant displacement be temporary?

(c) Will tenant displacement be permanent?

Is the site directly accessed by an existing, paved, publicly maintained road? Yes
If no, please explain:

Is any portion of the site located inside the 100 year floodplain? No
If yes:
(a) Describe placement of project buildings in relation to this area: (4 of 23)4/14/2009 1:05:14 PM

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(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain: (5 of 23)4/14/2009 1:05:14 PM

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Site Control
Does the owner have fee simple ownership of the property (site/buildings)?Yes

If yes provide:

Purchase Date: 2/23/2004 Purchase Price: 90,000

If no:
(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?
(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for
purchase of the property and the seller of the property?
If yes, specify the relationship:

(c) Enter the current expiration date of the option/contract to purchase:

(D) Enter Purchase Price: (6 of 23)4/14/2009 1:05:14 PM

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Present zoning classification of the site:Mock Circle-Village Infill, Bailey Springs-Rural Village, Jetton-Lakeshore Planning

Is multifamily use permitted?Yes

Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?No
If yes, have the hearings been completed and permits been obtained?
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for
obtaining them:

Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office
If yes, describe below:

Are there any existing conditions of environmental significance located on the project site?No
If yes, describe below: (7 of 23)4/14/2009 1:05:14 PM

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Ownership Entity

Owner Name: The Cottages LLC

Address: 1300 Baxter Street, Suite 215
City: Charlotte State:NC Zip: 28204

Federal Tax ID Number of Ownership Entity: (If assigned)

Note: Do not submit social security numbers for individuals.
Entity Type: Limited Liability Company
Entity Status: To Be Formed
Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? Yes
Is the applicant requesting that the Agency treat the application as CHDO sponsored? Yes
List all general partners, members,and principals. Specify nonprofit corporate general partners or members.
Click [Add] to add additional partners, members, and principals.

Org: The Cottages Housing of Davidson Inc.

First Name: Kathy Last Name: Stilwell Function: Managing Member
Address: 1300 Baxter Street, Suite 215
City: Charlotte State: NC Zip: 28204

Phone: (704)968-7202 Fax: (704)376-8709

EMail: Nonprofit: No

Org: Davidson Housing Coalition

First Name: Marcia Last Name: Webster Function: Member
Address: P. O. Box 854
City: Davidson State: NC Zip: 28036

Phone: (704)892-4486 Fax: (704)892-4197

EMail: Nonprofit: Yes

Org: The Affordable Housing Group of North Carolina, Inc.

First Name: Paul Last Name: Woollard Function: Member
Address: 1300 Baxter Street, Suite 215
City: Charlotte State: NC Zip: 28204

Phone: (704)607-9791 Fax: (704)376-8709

EMail: Nonprofit: Yes (8 of 23)4/14/2009 1:05:14 PM

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Unit Mix
The Median Income for Mecklenburg county is $66,500.

Low Income Units

Total # Monthly Utility Mandatory **Total

Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.

Duplex 1 661 1 1 276 85 0 361

Gdn Apt 2 902 6 1 334 99 0 433

Gdn Apt 3 1100 4 1 370 130 0 500

Duplex 1 661 1 1 487 85 0 572

Gdn Apt 2 902 7 1 556 99 0 655

Gdn Apt 3 1100 6 1 630 130 0 760

Gdn Apt 2 902 9 0 665 99 0 764

Gdn Apt 3 1100 7 0 770 130 0 900

Utilities included in rents: Water/Sewer Electric Gas Other trash

Employee Units (will add to Low Income Unit total)

Total # Monthly Utility Mandatory **Total

Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.

Utilities included in rents: Water/Sewer Electric Gas Other

Market Rate Units

Total # Monthly Utility Mandatory **Total

Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.

Utilities included in rents: Water/Sewer Electric Gas Other


All Gross Monthly

Units Units Rental Income

Low Income....... 41 6 23294

Market Rate.......

Totals............... 41 6 23294 (9 of 23)4/14/2009 1:05:14 PM

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Proposed number of residential buildings: 12 Maximum number of stories in buildings: 2

Project Includes:
Separate community building - Sq. Ft. (Floor Area): 1,400

Community space within residential bulding(s) - Sq. Ft. (Floor Area):

Elevators - Number of Elevators:

Square Footage Information

Gross Floor Square Footage: 47,518

Total Net Sq. Ft. (All Heated Areas): 41,346

Indicate below any additional targeting for special populations proposed for this project:
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal and
state codes.)

Number of Units: 6

Number of Units Required: 6

Persons with disabilities or homeless populations.

Number of Units: 5

** Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low
income units are within established thresholds. (10 of 23)4/14/2009 1:05:14 PM

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Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to
create another row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.

# BRs Units %

1 1 targeted at 30 percent of median income affordable to/occupied by

2 6 targeted at 30 percent of median income affordable to/occupied by

3 4 targeted at 30 percent of median income affordable to/occupied by

1 1 targeted at 50 percent of median income affordable to/occupied by

2 7 targeted at 50 percent of median income affordable to/occupied by

3 6 targeted at 50 percent of median income affordable to/occupied by

2 9 targeted at 60 percent of median income affordable to/occupied by

3 7 targeted at 60 percent of median income affordable to/occupied by

Total Low Income Units: 41

Note: This number should match the total number of low income units in the Unit Mix section. (11 of 23)4/14/2009 1:05:14 PM

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Funding Sources

Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service

Bank Loan 595,000 8.00 20 30 52,391

RPP Loan 615,000 ✔ 0.00 20 20

Local Gov. Loan - Specify:

100,000 ✔ 0.00 20 20

RD 515 Loan

RD 538 Loan - Specify:

AHP Loan 475,000 ✔ 2.00 20 20

Other Loan 1 - Specify:

Other Loan 2 - Specify:

Other Loan 3 - Specify:

Tax Exempt Bonds

State Tax Credit(Loan) 585,354 0 30 30 0

State Tax Credit(Direct Refund)

Equity: Federal LIHTC 3,898,066

Non-Repayable Grant

Equity: Historic Tax Credits

Deferred Developer Fees 1,709

Owner Investment

Other - Specify:

Total Sources** 6,270,129

* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt
service below.
** Total Sources must equal total replacement cost in Project Development Cost (PDC) section.

Estimated pricing on sale of Federal Tax Credits: $0. 74

Remarks concerning project funding sources:

(Please be sure to include the name of the funding source(s)) (12 of 23)4/14/2009 1:05:14 PM

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Loans with Variable Amortization

Please fill in the annual debt service as applicable for the first 20 years of the project life.

RPP Loan

Year: 1 2 3 4 5 6 7 8 9 10
Amt: 21000 22000 22000 22000 21000 20000 19000 16000 15000 13000
11 12 13 14 15 16 17 18 19 20
Amt: 11000 11000 10000 7000 5000 3000 2000 1000 0 0

Local Gov. Loan - HOME

Year: 1 2 3 4 5 6 7 8 9 10
Amt: 0 0 0 0 0 0 0 0 0 0

Year: 11 12 13 14 15 16 17 18 19 20
Amt: 0 0 0 0 0 0 0 0 0 0

AHP Loan

Year: 1 2 3 4 5 6 7 8 9 10
Amt: 0 0 0 0 0 0 0 0 0 0

Year: 11 12 13 14 15 16 17 18 19 20
Amt: 0 0 0 0 0 0 0 0 0 0 (13 of 23)4/14/2009 1:05:14 PM

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Development Costs
Eligible Basis
Item Cost Element TOTAL COST
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only)

2 Demolition (Rehab / Adaptive Reuse only)

3 On-site Improvements 211,625 211,625

4 Rehabilitation

5 Construction of New Building(s) 3,600,000 3,600,000

6 Accessory Building(s) 140,000 140,000

7 General Requirements (max 6% lines 2-6) 237,098 237,098

8 Contractor Overhead (max 2% lines 2-7) 83,774 83,774

9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest) 335,098 335,098

10 Construction Contingency (max 5% lines 2-9, Rehabs 10%) 138,228 138,228

11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 110,000 110,000

12 Architect's Fee - Inspection 30,000 30,000

13 Engineering Costs 39,400 39,400

SUBTOTAL (lines 1 through 13) 4,925,223

14 Construction Insurance (prorate) 18,000 14,440

15 Construction Loan Orig. Fee (prorate) 84,000 67,200

16 Construction Loan Interest (prorate) 258,720 206,976

17 Construction Loan Credit Enhancement (prorate)

18 Construction Period Taxes (prorate) 3,584 2,867

19 Water, Sewer and Impact Fees 14,072 14,072

20 Survey 20,000 20,000

21 Property Appraisal 10,000 10,000

22 Environmental Report 21,000 21,000

23 Market Study 4,300 4,300

24 Bond Costs

25 Bond Issuance Costs

26 Placement Fee

27 Permanent Loan Origination Fee 13,675

28 Permanent Loan Credit Enhancement (14 of 23)4/14/2009 1:05:14 PM

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29 Title and Recording 12,000

SUBTOTAL (lines 14 through 29) 459,351

30 Real Estate Attorney 55,000 55,000

31 Other Attorney's Fees 15,000 7,500

32 Tax Credit Application Fees (Preliminary and Full) 2,300

33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 36,292

34 Cost Certification / Accounting Fees 16,500 16,500

35 Tax Opinion 3,000

36 Organizational (Partnership) 2,500

37 Tax Credit Monitoring Fee 28,700

SUBTOTAL (lines 30 through 37) 159,292

38 Furnishings and Equipment 28,000 28,000

39 Relocation Expense

40 Developer's Fee 430,500 430,500

41 Additional Contigency (greater of $500/unit or $30,000) 30,000 30,000

42 Other Basis Expense (specify)

43 Other Basis Expense (specify)

44 Rent-up Expense 20,500

45 Other Non-basis Expense (specify)

46 Other Non-basis Expense (specify)

SUBTOTAL (lines 38 through 45) 509,000

47 Rent up Reserve 12,300

48 Operating Reserve 113,963

49 Other Reserve (specify)

50 Other Reserve (specify)

51 DEVELOPMENT COST (lines 1-49) 6,179,129 0 5,853,578

52 Less Federally Funded Grant

53 Less Disproportionate Standard

54 Less Nonqualified Nonrecourse Financing

55 Less Historic Tax Credit 0

56 TOTAL ELIGIBLE BASIS 5,853,578 0 5,853,578

57 Applicable Fraction (percentage of LI Units) 100.00% 100% 100% (15 of 23)4/14/2009 1:05:14 PM

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58 Basis Before Boost 5,853,578 0 5,853,578

59 Basis Boost of up to 130% 100.00% 100.00%

60 TOTAL QUALIFIED BASIS 5,853,578 0 5,853,578

61 Tax Credit Rate 3.50 9.00

62 Federal Tax Credits (maximum $1,300,000) 526,822 0 526,822

63 Federal Tax Credits Requested (if less than line 62) 0

64 Land Cost 91,000




Project Development Cost per unit 87,805 (16 of 23)4/14/2009 1:05:14 PM

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Market Study Information

Please provide a detailed description of the proposed project:
The Cottages is a scattered site development located in two neighborhoods in Davidson. The units will be
nearly identical in design to The Bungalows tax credit project located on Jetton Street. The units are
designed in triplex units to feel like single family homes in the neighborhood.

Scattered site development is the most realistic method of developing affordable housing in Davidson. The
Town has an Ordinance which requires 12.5% of all housing units in new developments be affordable.
Many developers choose to donate land to the Town for development of the affordable units. Two of the
parcels in this proposed scattered site development have been donated to the Town (or if directed by the
Town sites are donated directly to Davidson Housing Coalition). This has resulted in small parcels of land
being available, but considered individually, it would be cost prohibitive for these sites to be developed,
maintained, managed and kept affordable.

Jetton/Mock Circle:
The Jetton site is contiguous to the existing Bungalows apartments, developed by Affordable Housing
Group and Davidson Housing Coalition. Due to the Town of Davidson’s inclusionary zoning ordinance, the
Park at Davidson project, which is adjacent to the proposed, new rental units , was required to provide 6
affordable units, or 12.5% of the development’s unit count. The Town negotiated the donation of land
suitable for construction of those 6 units to Davidson Housing Coalition. In addition, the Town required the
Park at Davidson to build a rain garden, plant street trees and install sewer taps for the site in preparation
for 2 Bungalow-style triplexes. The proposed design is identical to the Bungalows, has the same architect
and will blend in seamlessly to the neighborhood. Residents on this site will have full access to the
community room and amenities located at The Bungalows and the Bailey Springs site.

Mock sites:
Many of the small parcels in Westside Davidson have become very attractive to outside developers, who
have acquired the properties only for investment purchases, with the ultimate goal of demolition and
redevelopment, removing the property from the Davidson affordable stock.
300 Mock Road and 132 Mock Circle were purchased by Davidson Housing Coalition (DHC) in an effort to
protect the small parcels for eventual affordable housing units to be developed. DHC has ownership of
some of the surrounding properties and has revitalized the neighborhood with the construction of new,
affordable rental units. The inclusion of the proposed apartments will architecturally blend in to the existing
111 Mock Circle is a parcel that was included in the donation of land to Davidson Housing Coalition by
Davidson College in 2001. The remaining parcels have been developed as affordable rental units, and the
addition of a Bungalow-style triplex will be compatible with the existing neighborhood structures. Residents
on the Mock Circle sites will have full access to the community room and amenities located at The
Bungalows and the Bailey Springs stie.

Bailey Springs:

The Bailey Springs neighborhood is a newly constructed area in Davidson’s eastside. The project’s
inclusionary zoning ordinance requirement of affordable housing is 24 units, representing 12.5% of the
projects total unit count. The Town of Davidson negotiated the donation of 2.24 acres to the Town, on which
24 Bungalow-style units are proposed. The Davidson Board of Commissioners voted, on January 6, 2009,
to donate the property to Davidson Housing Coalition, contingent on tax credit funding, and only for the
construction of affordable units.

The Bailey Springs site will include a community space and amenities for the residents. The space will
include laundry facilities, on-site manager (same management firm as The Bungalows), computer center,
meetings space with community kitchen, playground and picnic area.

Construction (check all that apply):

Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches

Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding (17 of 23)4/14/2009 1:05:14 PM

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Multiple colors, materials, and design features will be utilized to break up the façade and roof lines of the
building. Column styles will vary between buildings.

Have you built other tax credit developments that use the same building design as this project?Yes
If yes, please provide name and address:
The Bungalows, Jetton Street, Davidson, NC

Site Amenities:
Club house will include community space for resident meetings and activities, on-site manager's office,
resident computer center, screened porch and covered porch, community kitchen, laundry facilities (Energy
Star Certified), mail boxes, and exercise room.

The site will include parking near each unit, a playground and picnic shelter for resident use. Units located
on Jetton Street and Mock Circle will be given full access to the community building and amenities at The

Onsite Activities:
The residents of The Cottages will have access to tenant counseling, homeownership counseling and
education provided by the Davidson Housing Coalition. A Resident Council will be established. The Council
will be assisted to implement a Neighborhood Watch Program and to evaluate other programs that would
meet the needs of the residents. Typical activities could include social gatherings, pot luck dinners, movie
night, game night, etc.

Landscaping Plans:
A generous landscape allowance will be used to provide foundation plantings and lawns to soften the
façade and provide green space. Plantings will include drought tolerant and NC native species and trees
that will mature to provide shade and privacy. Planting will be coordinated with benches and playground so
public areas will have areas of shade as the trees mature.

Interior Apartment Amenities:

All apartments will include large closets, a pantry, and dining area. Large open living areas and bedrooms
with adequate wall space for furniture. Orientation of windows provide abundant amounts of natural lighting
in the bedrooms and living spaces.

All units will be Energy Star Certified for energy efficiency. Energy Star rated refrigerators and dishwashers.

Indoor air quality will be improved through measures including kitchen and bath fans that exhaust to the
exterior, use of low VOC paints and primers, and a tight envelope for the building's exterior.
Private entrances to units with porches and stoops help create definable space for each unit while (18 of 23)4/14/2009 1:05:14 PM

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encouraging interaction among neighbors.

Do you plan to submit additional market data (market study, etc.) that you want considered? Yes
If yes, please make sure to include the additional information in your pre-application packet. (19 of 23)4/14/2009 1:05:14 PM

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Applicant's Site Evaluation

Briefly describe your site in each of the following categories:


Trend and direction of real estate development and area economic health. Physical condition of buildings and
improvements in the immediate vicinity. Concentration of affordable housing.
Jetton/Mock Circle sites: Real estate development trends in the immediate neighborhood focus on
rehabilitation of lower-income single-family homes, and new construction of multi-family rental units.
Located in Westside Davidson, there have been significant neighborhood rehabilitation efforts, specifically
with the development of rental units by Davidson Housing Coalition. There is an on-going effort to maintain
affordability while upgrading the housing stock in the neighborhood. The area immediately adjacent to the
neighborhood has seen dramatic development of middle to upper end retail and residential development.

Bailey Springs site : Real estate development in the immediate vicinity is new, with 2-story single-family
homes, walking/biking trails and proposed recreational fields. All buildings and improvements are in
excellent condition. There is no affordable housing. The land for these units is being donated by the Town
to assure affordable housing in this neighborhood is in compliance with the zoning ordinance and per the
approved master plan.


Land use pattern is residential in character (single and multifamily housing). Extent that the location is
isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:
wastewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distribution
facilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,
sources of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount and
character of vacant, undeveloped land. Jetton/Mock Circle sites : Land use pattern is primarily residential
with support service facilities. The Ada Jenkins Center is located across Mock Circle from the site and
provides a wide array of programs and services for the residents of the neighborhood. The Davidson Housing
Coalition offices are across the street from the proposed Mock Circle site. The location is well connected with
a short walk to services, retail and downtown. There are no incompatibile uses or environmental concerns.
Bailey Springs site : The land use pattern is residential, and is not isolated. There are no industrial or
incompatible uses. The site is near a power line easement but is surrounded by other residential units and
recreational open space. The appraised value of the site at $615,000 indicates that the lines are not deemed
to be incompatible. There is undeveloped land, as this site is located in a newly constructed master planned
development of Davidson. The Cottages site is in compliance with the Bailey Springs Community’s
inclusionary zoning requirement and is being donated to DHC for the project by the Town of Davidson for
affordable rental units per the Town's approved Master Plan.

Adequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilities
(particularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project sign
(s) in relation to traffic corridors. Jetton/Mock Circle sites : Speed limits are set at 25 mph and there are
adequate stop lights and signs. Access to public transportation is available less than 1/4 mile away at the
Ada Jenkins Center. The site location on Jetton and on Mock Cirlce across from the Ada Jenkins Center
provides excellent visibility. Bailey Springs site : The units will not be a burden on public facilities as they are
appoved as part of the Master Plan for the development. Speed limits in the immediate neighborhood are set
at 25 mph. There are no negative features and visibility is excellent as the site is in the middle of the new
development area. (20 of 23)4/14/2009 1:05:14 PM

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Degree of on-site negative features and physical barriers that will impede project construction or adversely
affect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, large
boulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-
suitability for residential use and difficulties posed by the building(s), such as limited parking, environmental
problems or the need for excessive demolition).
Jetton/Mock Circle sites : There are no negative features associated with these sites. Jetton is immediately
adjacent to The Bungalows and new residential development.

Bailey Springs site : There are power transmission lines near the site, however the appraised value of
$615,000 indicates no negative consequences of the lines. The site is fully prepared including roads,
parking and utility connections.

Similarity of scale and aesthetics/architecture between project and surroundings.

The Town of Davidson, through its strict architectural guidelines and required approval of the Planning
Board and Town Board of commissioners, ensures that all new construction is compatible with the overall
community’s appearance.

Jetton/Mock Circle sites : Surrounding buildings are both small single-family and 2-story, multi-family
dwellings. The Bungalows style rentals will blend into the existing, older neighborhood that already includes
a number of Bungalow/Cottage style infill units.

Bailey Springs site : The Bungalow style triplexes will blend into the newly constructed 2-story single-family
neighborhood and are called for in the approved Master Plan for the neighborhood.

For each applicable neighborhood feature, enter distance from project in miles.

.5 Grocery Store .3 Community/Senior Center

.5 Mall/Strip Center 4.5 Hospital

.3 Outdoor Athletic .7 Pharmacy


.3 Day Care/After .5 Basic Health Care


.3 Public Transportation
.8 Schools

.3 Convenience Store .6 Public Parks

.3 Gas Station .7 Library

Other facilities or services:

The distances above are for the Jetton/Mock Circle sites. The distances from Bailey Springs are included

Grocery Store –Food Lion (20125 North Main St., Cornelius, NC 28031) – 2.9 miles

Mall/Strip Center – Northcross Commons Shopping Center (approx. 9700 Sam Furr Rd, Huntersville, NC
28078), 4.2 miles

Outdoor Athletic Fields – Bailey Road Park (11536 Bailey Road, Cornelius, NC 28031) – 1.2 miles

Day Care/After School –Lake Norman Learning Ctr Inc. (21106 Catawba Ave., Cornelius, NC 28031) – 3.1

Schools –Bailey Middle School (11900 Bailey Road, Cornelius, NC 28031) – 0.9 miles

Convenience Store – Cashion’s Quick Stop (19925 S Main St, Cornelius, NC) – 2.7 miles (21 of 23)4/14/2009 1:05:14 PM

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Gas Station – Cashion’s Quick Stop (19925 S Main St, Cornelius, NC), - 2.7 miles

Community/Senior Center – Lake Norman YMCA (21300 Davidson St., Cornelius, NC 28031), - 3.7 miles

Hospital –Presbyterian Hospital Huntersville (Exit 23-- 10030 Gilead Rd., Huntersville, NC 28078) – 6.5

Pharmacy – Rite Aid (21500 Catawba Ave, Cornelius, NC), - 2.7 miles

Basic Health Care – Medicus Health Care (16507 Northcross Dr Ste B., Huntersville, NC 28078) – 5.3 miles

Public Transportation Stop – Cornelius Town Hall Park & Ride (21445 Catawba Ave., Cornelius, NC 28031)
– 2.8 miles

Public Parks – Bailey Road Park (11536 Bailey Road, Cornelius, NC 28031) – 1.2 miles

Library –Cornelius Public Library (21105 Catawba Ave., Cornelius, NC 28031) – 3.1 miles (22 of 23)4/14/2009 1:05:14 PM

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Preliminary App Checklist

The following enclosures must be submitted along with your signed preliminary application. Some enclosures are required only under
certain conditions. Please check each applicable item to indicate that you understand the enclosure requirements and will enclose the
correct supporting documentation with your application.

Fee Payment
Check in the amount of $5,450.00 made payable to North Carolina Housing Finance Agency.
Tab A - Preliminary Application
Printed, signed copy of preliminary application generated from online system.
B - Map/Driving Instructions
A local map clearly identifying the location of the Site and detailed directions to the Site. Current City or County maps are preferred
– internet maps and directions are not acceptable. Applicant must also provide a map identifying the amenities listed in section IV
(A)(1)(b)(ii) of the QAP and their proximity to the site.

Applicant must provide a sign and boundary markers to clearly identify the road frontage of the site. The sign identifying the site
should read “SITE” with a minimum size of 11x17.
C - Community Revitalization Plan
Applicant should provide a map identifying the subject site within the Plan area (if applicable).
D - Evidence of Site Control
Provide valid option/contract or warranty deed and plot plan.
E - Site Plans/Scope of Work
Preliminary site plan, floor plans and elevations for all projects, interior and exterior photographs and detailed scope of work for
Adaptive Reuse and Rehab projects. Site and floor plans should be no larger than 11x17 and must be produced by a licensed
architect or engineer.
F - Information Package for Market Analysts
This section must include copies of items required in Tabs A, B, E and G (site and floor plans should be no larger than 11x17) and
can include any additional market information such as preliminary market studies the applicant would like to provide to the
G - Rent Roll (Rehabs only)
Provide the current rent roll for the property and indicate which units (if any) are receiving rental assistance.
H - Documentation for Basis Boost
Applicant should provide an appraisal and/or standard geological survey to support a request for the basis boost (if applicable). (23 of 23)4/14/2009 1:05:14 PM