EXHIBIT 1: COST CERTIFICATION REQUIREMENTS LIST

Transcription

1 EXHIBIT 1: COST CERTIFICATION REQUIREMENTS LIST Provide the requested information and documents. Check each box to indicate that the document is included in this Cost Certification packet. If unable to provide a document or an item is not applicable, provide a page behind its appropriate item tab to explain why the document was omitted. Tab Exhibits 1 Exhibit 1. Cost Certification Requirements List 2 Exhibit 2A. Copy of Carryover Allocation Agreement/Determination Notice Did the Development Owner lock the applicable percentage rate? Yes No If Yes An executed copy of Carryover Allocation Form is provided under Exhibit 2A OR Copy of executed Election Statement for Developments funded with mortgage revenue bond proceeds. Exhibit 2B. Owner s Statement of Certification w/ original signature and required notarization 3 Exhibit 3A. Owner Summary with attached organizational chart(s) Exhibit 3B. Copy of (all that apply) Formal request for TDHCA approval of the Development Owner name change; A legal opinion which states the Development Owner name change does not and will not involve a change in the: a. Ownership of the subject tax credit property or the tax identification number of the ownership; b. General partnership structure; or c. Limited partnership structure. For all new organizations in the ownership structure: Organizational documents; Financial Statements and Credit Release Authorization; and Previous Participation Certification. Exhibit 3C. Evidence of Nonprofit and CHDO Participation. For projects that received an allocation from the Non Profit Set-Aside, attach proof of the entity s nonprofit status AND: A statement indicating Exhibit 14. Limited Partnership Agreement clearly identifies the nonprofit as the Managing General Partner OR A partnership/joint venture agreement is attached which outlines the nonprofit s material participation Exhibit 3D. Evidence of Historically Underutilized Business (HUB) Participation. If a HUB participates in the ownership of the development, attach current HUB Certificate. 4 Exhibit 4. Development Team. FORM MUST DESCRIBE ALL ENTITIES TO WHICH PAYMENTS WERE MADE. If an entity is identified as a HUB, attach a current HUB Certificate in the entity s name. 5 Exhibit 5A. Development Summary with Architect s Certification. Exhibit 5B. If applicable, copy of Department Letter accepting changes to the development 6 Exhibit 6. As-Built Survey of the development prepared and signed by an accredited surveyor. Survey must indicate the total site acreage and the location of each building. Each building must be labeled with each of the following items: Building Identification Numbers (BIN) assigned by the Department, Residential Building Numbers, and Unit Numbers within the building. Currently or at application, was the site located in a FEMA floodplain other than C or Unshaded X? Yes No If Yes, survey must identify final floodplain levels for buildings and drives. 7 Exhibit 7. Copy of the Closing Statement(s) for the transfer of the subject property. EXHIBIT 1 Cost Certification Requirements List

2 TDHCA File #: 8 Exhibit 8A. Copy of the Title Policy. Exhibit 8B. Does the Title Policy list the LURA? Yes No If No, a Nothing Further Certificate, Downdate Endorsement, or Abstractor s Certificate listing all liens and judgments through the recorded date of the LURA must also be submitted Exhibit 8C. Are there any Liens or Judgements (besides those associated with construction or permanent financing) excluded from coverage under the title policy, nothing further statement, downdate endorsement, or abstractor s certificate? Yes No If Yes, include a copy of the recorded Release of Lien or Judgment or documentation of adequate payment or performance bond for each lien or judgement. 9 Exhibit 9A. Placement in Service Exhibit 9B. Individual Building Description. Exhibit 9C. New Construction Developments must submit Certificate(s) of Occupancy (CO) from the local governmental authority. If temporary COs are utilized for this exhibit, then they must be accompanied by a letter from the governmental authority which states the buildings were ready for occupancy upon the date indicated in the temporary CO. TX-USDA-RHS Financed New Construction Developments may submit Certificate(s) of Occupancy OR a full copy of the executed TX-USDA-RHS Final Inspection Report. Rehabilitation Developments must submit Certificate(s) of Occupancy OR Architect s Certification of Completion Date and Date Ready for Occupancy Exhibit 9D. Acquisition/Rehabilitation Placement in Service Election. All acquisition/rehabilitation developments must complete this form. The exhibit must be signed by an auditor. Exhibit 9E. Maximum Additional Allocation. (For 2004 and 2005 Annual Allocation and Forward Commitments Only) 10 Exhibit 10A. Independent Auditor s Report. All developments must complete this form. The exhibit must be signed by an auditor. Exhibit 10B. Independent Auditor s Report of Bond Financing. Only developments funded with mortgage revenue bond proceeds must complete this form. The exhibit must be signed by an auditor. Exhibit 10C. Total Development Cost Schedule. Does the calculated eligible basis include costs normally considered ineligible for tax credit purposes (costs entered in cells shaded gray)? Yes No If Yes, attach support for the inclusion of the cost in eligible basis in the form of statement, signed by auditor OR signed legal opinion Exhibit 10D. Application and Certificate for Payment. AIA Form G702 or other such documents detailing the costs of the development that have been signed by the architect and provided to the lender for draw purposes. 11 Exhibit 11A. Rent Schedule. Are the tenant paid rents lower or higher than the program maximums? Yes No If Yes, attach required support documentation Exhibit 11B. Utility Allowances with support documentation attached <<IDENTIFY Support Documentation>> Exhibit 11C. Annual Operating Expenses Exhibit 11D. 30-Year Pro Forma. Does the proforma reflect growth at a rate other than 3% for income and 4% for expenses and/or does the proforma deviate from straight-line growth? Yes No If Yes, attach written explanation for deviation 12 Exhibit 12A. Current Annual Operating Statement with detailed breakdown of operating expenses Exhibit 12B. Current Rent Roll 13 Exhibit 13A. Sources of Funds for all permanent financing Exhibit 13B. Financing Narrative EXHIBIT 1 Cost Certification Requirements List

3 TDHCA File #: 14 Exhibit 14. Copy of executed Limited Partnership Agreement. If development was funded with mortgage revenue bonds, is the Development Owner requesting additional tax credits? Yes No If Yes, Limited Partnership Agreement clearly stated terms for purchase of additional tax credits OR Firm Commitment with terms to purchase additional tax credits is attached 15 Exhibit 15. For each permanent financing source, provide copy of Loan Agreement AND Promissory Note for closed loans OR Firm Commitment Letter with terms for loans that have not closed 16 Exhibit 16. Architect s Certification of Fair Housing requirements must be signed by architect. 17 Exhibit 17A. Copy of the TDHCA Compliance Workshop Certificate. If individual who attended the compliance training workshop is not the Development Owner, also submit: Exhibit 17B. Project Development Owner s Assignment of Individual to Compliance Training Form. 18 Exhibit 18. LURA, copy must be of fully executed and recorded document. 19 Exhibit 19. TDHCA Final Inspection Clearance Letter or TX-USDA-RHS Final Inspection, if the development was financed under TX-USDA-RHS. 20 Exhibit 20. Other documents deemed relevant to Cost Certification of the development may be attached under additional numbered tabs or bound separately. This should include any pending conditions of the original award that have not been addressed in other parts of the cost certification. EXHIBIT 1 Cost Certification Requirements List

4 EXHIBIT 2B: DEVELOPMENT OWNER S STATEMENT OF CERTIFICATION To the best of my knowledge, no information contained within this Cost Certification packet is in any way false or incorrect, and the information contained within these pages is truly descriptive of the Development or property for which the Housing Tax Credits are being requested. By my signature below, I also acknowledge that the total development cost, eligible basis amounts and any other information contained in the Cost Certification packet exhibits which may affect the amount of tax credits issued by the IRS Forms 8609 are final. As such, the amount of tax credits to be issued will be based on this documentation and will not be subject to revision. To facilitate the issuance of the IRS Forms 8609, I will provide additional information, detailed accounting records, documents, and receipts at the request of the Department. Development Owner Name By: Title: Date: Authorized Signature I, the undersigned, a Notary Public in and for <<County Name>>, in <<State>>, hereby certify that <<Representative Name>>, whose name is signed to the foregoing conveyance, acknowledged before me on this date, being informed of such document, s/he as officer and with full authority, executed said conveyance voluntarily on the day the same bears date. Given under my hand, official seal this day of,. Notary Public Signature Commission Expires: NOTE: All resubmitted exhibits must include any signature required by instructions for the exhibit as well as an original Development Owner signature and date. Resubmitted Exhibits 9A, 9B, 9C, and 10C also must be signed by the independent auditor that prepared and signed Exhibits 10A or 10B. Signature by the independent auditor indicates changes in the resubmitted exhibits do not affect the conclusions in Exhibit 10A or 10B. EXHIBIT 1C Development Owner s Statement of Certification

5 EXHIBIT 3A: OWNER SUMMARY Development Owner Tax ID Number: Development Owner Contact: Cost Cert Contact: Address: Address: City: St: Zip: City: St: Zip: Phone: ( ) Fax: ( ) Phone: ( ) Fax: ( ) Development Changes: A. Has the development name changed from that indicated at Application? If, No, nothing further is needed. If Yes, identify the development name at Application:. B. Has the Development Owner name changed from that indicated at Application? If Yes, Identify the Development Owner name at Application: ; Submit a formal request for TDHCA approval of the Development Owner name change; Did the ownership structure of the development change from that indicated at Application? If No, submit a legal opinion which states the Development Owner name change does not and will not involve a change in the: Ownership of the subject tax credit property or the tax identification number of the ownership; General partnership structure; or Limited partnership structure. If Yes, submit the following documents for all new organizations in the ownership structure: Organizational documents; Financial Statements and Credit Release Authorization; and Previous Participation Certification. If No, has the ownership structure of the development changed from that indicated at Application? If No, nothing further is needed. If Yes, submit the following documents for all new organizations in the ownership structure: Organizational documents; Financial Statements and Credit Release Authorization; and Previous Participation Certification. EXHIBIT 3A Owner Summary

6 TDHCA File #: Organizational Chart: All Development Owners must provide an ownership chart as part of this exhibit. The chart must clearly illustrate the complete ownership structure of the Development Owner. It should provide the names and ownership percentages of Persons with an ownership interest in the Development Owner or that serve in the Development Team Member role of Developer. The percentage ownership of all Persons in control of these entities and sub-entities must also be clearly defined. The TIN for all entities identified must be provided, while social security numbers for an individual is not required. Finally, indicate if an entity is a nonprofit and/or Historically Underutilized Business ( HUB ). Owner Housing Partnership, Ltd. Managing General Partner Co-General Partner Limited Partner Housing Corporation, Inc. Nonprofit Corporation, Inc. Syndication, Inc % 0.001% 99.99% NONPROFIT 1 st Housing, Inc. 2 nd Housing, Inc. 90% 10% Individual Individual 50% 50% Individual 50% Consultant Individual Developer Development, Inc. Individual Individual 51% 49% EXHIBIT 3A Owner Summary

7 EXHIBIT 3C: EVIDENCE OF NONPROFIT AND CHDO PARTICIPATION Only nonprofit organizations will complete this exhibit. All nonprofit owners or principals must complete this form regardless of their level of ownership or the set aside under which application was made. Organization Tax ID Number: Legal Status: 501(c)(3) 501(c)(4) tax-exempt under 501(a) PHA other (Specify) Date of legal formation of Nonprofit Organization: 1. Is the Development Owner comprised of a joint venture between a nonprofit organization and for-profit entity? Yes No. If Yes, will this nonprofit organization control the Development Owner? Yes No. What is the ownership percentage of this nonprofit organization? % 2. Describe the nonprofit s participation in the Development: 3. Describe the nonprofit s participation in the operation of the Development throughout the compliance and/or extended use period: 4. Does the nonprofit have prior experience in owning, managing or developing affordable housing? Yes No If Yes, describe such experience: 5. If the nonprofit will participate through a related subsidiary entity, provide the name of such entity: Subsidiary Entity Legal Status: 501(c)(3) 501(c)(4) tax-exempt under 501(a) PHA Other (specify) 6. Is the nonprofit (or related subsidiary entity) assured of owning an interest in the Development throughout the compliance period? Yes No 7. Will the nonprofit be contributing funds to the Development? Yes No If Yes, explain: 8. Will the nonprofit receive any part of the development or management fees paid in connection with the Development? Yes No If Yes, explain: 9. How many full time staff members does the nonprofit have? How many will substantially participate in the Development? Describe their activities: EXHIBIT 3C Evidence of Nonprofit and CHDO Participation

8 TDHCA File #: 10. Has any for-profit entity (including the Development Owner or any entity directly or indirectly related to such owner) appointed any directors to the governing board of the nonprofit? Yes No If Yes, explain: 11. Does the nonprofit have any financial arrangements with an individual or for-profit entity including anyone or any entity related directly or indirectly to the Development Owner? Yes No If Yes, explain: 12. Disclose any personal (including familial) relationships that any of the staff members, directors or other principals involved in the formation or operation of the nonprofit 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 Development Owner, any of its for-profit general partners, employees, limited partners or any other parties directly or indirectly related to such owner: 13. Was this organization formed by any individuals or for profit entities for the principal purposes of meeting set aside requirements or scoring preferences associated with application? Yes No Purpose(s) of formation of nonprofit: 14. (For CHDOs Only) Do the members of this organization s Board of Directors serve in a voluntary capacity and receive no compensation, other than reimbursement for expenses for their services, and does the nonprofit organization operates in a manner so that no part of its net earnings inures benefit of any individual, corporation, or other entity? Yes No The undersigned hereby certifies, to the best of its knowledge, all of the forgoing information is correct, complete and accurate. Nonprofit Name By: Title: Date: Authorized Signature EXHIBIT 3C Evidence of Nonprofit and CHDO Participation

9 EXHIBIT 4: DEVELOPMENT TEAM DEVELOPER HOUSING GENERAL CONTRACTOR INFRASTRUCTURE GENERAL CONTRACTOR COST ESTIMATOR EXHIBIT 4 Development Team

10 ARCHITECT TDHCA File #: ENGINEER MARKET ANALYST APPRAISER EXHIBIT 4 Development Team

11 ATTORNEY TDHCA File #: ACCOUNTANT PROPERTY MANAGER ORIGINATOR OR UNDERWRITER EXHIBIT 4 Development Team

12 SYNDICATOR TDHCA File #: SUPPORT SERVICES Tenant s use of services is: Optional Mandatory These services will be: Free In excess of rent with a tenant cost of: $ /month Description of Services: OTHER: (Describe) OTHER: (Describe) EXHIBIT 4 Development Team

13 EXHIBIT 5A: DEVELOPMENT SUMMARY with ARCHITECT S CERTIFICATION Indicate in BOLD any changes to the Development and provide documentation from the Department which acknowledges the changes, labeled as Exhibit 5B. If the Department did not receive prior notification, submit a letter with support documentation stating the reason for the changes. Unless prior approval was given, a reduction in the tax credit allocation may occur. Set-Aside: Non-Profit General Rural/Prison Communities Other: (Specify) Does this development serve exclusively Elderly households? No Yes LOCATION Development Address: City: County: Zip: SITE ATTRIBUTES Total Site Acreage: # Units per Acre: Census Tract Number: Zoning Designation/Use: / The present use of the property is non-conforming under existing zoning restrictions. Yes No N/A Federal Emergency Management Agency Flood Zone Designation(s): Zone(s) Site is entirely outside a designated 100 yr. Flood Hazard Area or Flood Plain? Yes No Site is within Hazard Area but development is designed as required by program rules? Yes No DEVELOPMENT ATTRIBUTES Check all that apply Development is: New Construction Rehabilitation Only Acquisition & Rehabilitation Building/Unit Configuration: Detached Residence Duplex Triplex Fourplex Townhome >4 units per building Single Room Occupancy Maximum # of Floors: Elevator-Served: No Yes AT APPLICATION Total # of residential buildings: Total # of nonresidential buildings: Total # of units: Gross Building Area (GBA): Net Rentable Area (NRA): Common area square footage: PLACED IN SERVICE Total # of residential buildings: Total # of nonresidential buildings: Total # of units: Gross Building Area (GBA): Net Rentable Area (NRA): Common area square footage: Gross Building Area (GBA): GBA includes interior corridors, lobbies, basements, mezzanines, utility chases, and elevator shafts. The GBA includes community rooms, swimming pool bathhouses, mechanical rooms, maintenance shops, and storage rooms so long as such spaces are fully enclosed and available for use by or for the benefit of all tenants. Net Rentable Area (NRA): To qualify as NRA the space must be available exclusively to the tenant and is typically heated and cooled by a mechanical HVAC system. NRA does not include common hallways, stairwells, elevator shafts, janitor closets, electrical closets, balconies, porches, patios, or other areas not actually available to the tenants for their furnishings, nor does NRA include the enclosing of such walls. TDHCA File #: EXHIBIT 5A Development Summary with Architect s Certification

14 DEVELOPMENT ATTRIBUTES (CONTINUED) Check the box/enter the percentage make-up for each attribute found in the completed Development. EXTERIOR The following elements are part of the completed Development: Parking Roofs Walls Surface spaces Built-Up Rock % Masonry/Brick Garages Attached Comp. Shingle (25-year) Comp. Shingle (30-year) Wood Shingle/Shake % Hardiplank % Wood Siding % Stucco spaces Detached spaces Carports spaces Clay Tile % Other (Describe) Other (Describe) Amenities Full perimeter fencing Community laundry room and/or laundry hookups in Units Recreation facilities On-site daycare, senior center or community meals room Computer facilities Covered entries Use of energy efficient alternative construction materials w/wall insulation at a minimum of R-20 Accessible walking path A service coordinator office Covered pavilion w/barbecue grills and tables Furnished fitness center Game/TV/Community room Enclosed sun porch or covered community porch/patio Senior Activity Room (Arts and Crafts) Secured Entry (elevator buildings only) Community Dining Room w/full or warming kitchen Gazebo with sitting area Controlled gate access Designated playground and equipment Furnished community room Public telephone (24 hrs.) Storage area/room or closet Covered patios or balconies Community gardens Barbecue grills and picnic tables at least one for every 50 Units Service coordinator office in addition to leasing offices Equipped Business Center (computer & fax machine) or Equipped Computer Learning Center Library (separate from the community room) Swimming pool Horseshoe, lawn bowling courts, croquet courts, bocce ball courts, putting green or shuffleboard court Two Children s Playgrounds Equipped for 5 to 12 year olds, two Tot Lots, or one of each Furnished and staffed Children s Activity Center Sport Court (Tennis, Basketball or Volleyball) Health screening room INTERIOR The following are items found in each Housing Tax Credit unit: Kitchen Floors Air System Other Amenities Range/Oven % Carpet Central (12 SEER) Mini blinds or window Self cleaning or % Vinyl Central (14 SEER) coverings throughout continuous cleaning % Tile Heat Pump Computer line/phone jack Hood/Fan Garbage Disposal Dishwasher Refrigerator with Icemaker Microwave Energy Star or equivalently rated Kitchen Appliances % Other (Describe) Ceramic tile floors in entry, kitchen and baths Evaporative Cooling Window Units Other (Describe) in each bedroom Laundry connections Washer and dryer included Ceiling fixtures in all rooms Nine foot ceilings High speed internet service to all Units at no cost to residents Fire sprinklers in all Units ENERGY EFFICIENCY The following energy saving devices were installed in each Low Income Housing Tax Credit unit: EXHIBIT 5A Development Summary with Architect s Certification

15 Gas heating system with a minimum 80% flue efficiency (if allocated in 2000); Gas heating system with energy factor of 0.59 (if allocated in 2001); A shading coefficient for windows of 0.4 provided in the form of solar screens or dual pane insulating, low-e windows (if allocated in 2000 or 2001); Utilization of appliances and residential light fixtures that qualify for the US EPA and the US Department of Energy s Energy Star Label. At a minimum, this shall include the installation of programmable thermostats, water heaters, refrigerators and dishwashers in each unit (if allocated in 2000 or 2001). Roof radiant barrier; Insulation values must meet the 2000 International Energy Conservation Code (IECC) for the region in which the development is located. Rehabilitation developments must must also include soffit and ridge vents and storm windows; Energy Star rated heating and cooling systems, or in dry climates an evaporative cooling system may replace the Energy Star cooling system All appliances installed to be Energy Star rated; Maximum 2.5 gallon/minute showerheads and maximum 1.5 gallon/minute faucet aerators; If used, natural gas heating systems must have a minimum energy factor of 0.85; and If recessed lighting is used, it must use either compact fluorescent lights or fluorescent tube lights Ceiling fans in living room and each bedroom; The Undersigned, architect, hereby certifies that the Development information as set forth in Exhibit 5A is, to the best of his/her knowledge, true and accurate for the subject property,. By: Architect Title: Date: Authorized Signature EXHIBIT 5A Development Summary with Architect s Certification

16 EXHIBIT 9C: ARCHITECT S CERTIFICATION OF COMPLETION DATE AND DATE READY FOR OCCUPANCY Development Owners claiming acquisition credits for existing vacant buildings or claiming rehabilitation credits for rehabilitation work completed prior to 24-months after acquisition of the building must either provide Certificates of Occupancy or TX-USDA-RHS Final Inspection Report or this exhibit (9B: Architect s Certification of Completion Date). Building Number IRS Building Identification Number (BIN) Completion Date Date Ready for Occupancy The Undersigned, architect, hereby certifies, to the best of his/her knowledge, the rehabilitation work on the Development buildings listed above were completed as of the date indicated and the buildings were ready for occupancy as of the date indicated. Architect By: Title: Date: Authorized Signature EXHIBIT 9C Architect s Certification

17 EXHIBIT 9D: ACQUISITION/REHABILITATION PLACEMENT IN SERVICE ELECTION For Acquisition/Rehabilitation Developments, the Development Owner must elect a placed in service date to be used to determine the applicable percentage for tax credit purposes. Submission of this document in an alternative format other than that provided may be acceptable as long as all of the information requested in this form is included. PLACEMENT IN SERVICE: ACQUISITION OF EXISTING BUILDING Development Owner locked applicable percentage on <<DATE>> as evidenced by Exhibit 1B: Carryover Allocation Form OR attached Election Statement for developments funded with mortgage revenue bond proceeds. The existing buildings were acquired vacant on <<DATE>>, as evidenced by Exhibit 7 of this Cost Certification packet. Development Owner elects a Placed in Service date of <<DATE>>. The existing buildings were acquired with tenants in place on <<DATE>>, as evidenced by Exhibit 7 of this Cost Certification packet and the existing tenants were not permanently displaced due to the rehabilitation. Development Owner elects a Placed in Service date of <<DATE>>. The existing buildings were acquired with tenants in place on <<DATE>>, as evidenced by Exhibit 7 of this Cost Certification packet and the existing tenants were permanently displaced due to the rehabilitation. Development Owner elects a Placed in Service date of <<DATE>>. PLACEMENT IN SERVICE: REHABILITATION EXPENDITURES Development Owner locked applicable percentage on <<DATE>> as evidenced by Exhibit 1B. Carryover Allocation Form OR attached Election Statement for developments funded with mortgage revenue bond proceeds. Development Owner elects the Placed in Service dates indicated in Exhibit 9A. Placement in Service for Buildings <<BUILDING NUMBER>> through <<BUILDING NUMBER>>. The Undersigned, auditor, hereby certifies, to the best of his/her knowledge, the Development met the rehabilitation expenditure threshold defined by the Department or 10% of unadjusted basis rehabilitation expenditure threshold as of <<DATE>> and the elected Placed in Service dates fall within the parameters outlined in Internal Revenue Code 42(e). Auditor By: Title: Date: Authorized Signature EXHIBIT 9D Acquisition/Rehabilitation Placement in Service Election

18 EXHIBIT 10A: INDEPENDENT AUDITOR S REPORT Submission of this document in an alternative format other than that provided may be acceptable as long as all of the information requested in this form is included. We have audited the costs included in the accompanying Texas Department of Housing and Community Affairs ( TDHCA ) Cost Certification of <<Development Name>> ( Development ), owned by <<Development Owner>>, as of <<Date>>. The Cost Certification is the responsibility of the Development Owner. Our responsibility is to express an opinion on the Cost Certification based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance that the Cost Certification is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the Cost Certification. An audit also includes assessing the accounting principles used and significant estimates made by the Development Owner, as well as evaluating the overall Cost Certification presentation. We believe that our audit provides a reasonable basis for our opinion. The accompanying Cost Certification was prepared in conformity with the accounting practices prescribed by the Internal Revenue Service, under the accrual method of accounting, and in conformity with the format and qualified allocation plan rules set by TDHCA, which is a comprehensive basis of accounting other than generally accepted accounting principles. In our opinion and on the basis of the accounting described above and information presented in Exhibit 10C: Total Development Cost Schedule, the Cost Certification presents fairly, in all material respects: Total Development Cost: $ As of: <<Date>> Eligible Basis: $ As of: <<Date>> This report is intended solely for the information and use of the Development Owner and TDHCA. We have no financial interest in the Development other than in the practice of our profession. Auditor By: Title: Date: Authorized Signature Contact Information Contact: Address: Phone: EXHIBIT 10A Independent Auditor s Report

19 EXHIBIT 10B: INDEPENDENT AUDITOR S REPORT of BOND FINANCING Submission of this document in an alternative format other than that provided may be acceptable as long as all of the information requested in this form is included. We have calculated the percentage of the aggregate basis financed by tax-exempt bonds for <<Development Name>>, owned by <<Development Owner>>, based upon the information submitted in the cost certification to the Texas Department of Housing and Community Affairs as of <<Date>>. The result of the calculation is consistent with information presented in Exhibit 10C: Total Development Cost Schedule and is set forth below: Depreciable Basis from Cost Certification $ Land Cost from Cost Certification $ Aggregate Basis $ (A) Total Tax Exempt Bonds $ (B) Percent of Aggregate Basis Financed by Tax Exempt Bonds % (B/A) This report is intended solely for the information and use of the Development Owner and TDHCA. We have no financial interest in the Project other than in the practice of our profession. Auditor By: Title: Date: Authorized Signature EXHIBIT 10B Independent Auditor s Report of Bond Financing

20 EXHIBIT 13A: SOURCES OF FUNDS SUMMARY PERMANENT FINANCING Source: Contact: Address: Phone: ( ) Fax: ( ) City: State: Zip: Current Balance: $ Closing Date: Original Principle: $ Interest Rate: Fixed? Yes No Annual Payment: $ Amortization: yrs Term: yrs Lien Priority: PERMANENT FINANCING Source: Contact: Address: Phone: ( ) Fax: ( ) City: State: Zip: Current Balance: $ Closing Date: Original Principle: $ Interest Rate: Fixed? Yes No Annual Payment: $ Amortization: yrs Term: yrs Lien Priority: GRANT Source: Contact: Address: Phone: ( ) Fax: ( ) City: State: Zip: Amount: $ Conditions: LIHTC SYNDICATION Net Proceeds: $ Net Syndication Rate (per $1.00 of 10-yr LIHTC) OWNER S CONTRIBUTION Amount: $ Source: Deferred Developer Fee TOTAL SOURCES OF FUNDS: $ EXHIBIT 13A Sources of Funds Summary

21 EXHIBIT 16A: ARCHITECT S CERTIFICATION of FAIR HOUSING REQUIREMENTS HANDICAPPED ACCESSIBILITY: Pursuant to The Fair Housing Amendment Act, all first floor units (or all units if accessible by elevator) of properties designed and constructed for first time occupancy after March 13, 1991 must be adaptable for individuals with disabilities. The technical standards for complying with this provision are the Fair Housing Accessibility Guidelines (ANSI Code, dated 1986). Developments that have undergone rehabilitation and have elected to set-aside units pursuant to the QAP or have elected the Section 504 standards (Uniform Federal Accessibility Standards) will also be required to comply with the above provision. Total Number of Fully-Accessible Handicapped Units: Unit Numbers of Fully-Accessible Handicapped Units: Unit Numbers of Easily-Adaptable Handicapped Units: Please check the appropriate box: Total Number of Easily-Adaptable Handicapped Units: Accessibility for 2002 and later Allocations or Determinations. A certification that the Development will comply with the accessibility standards that are required under Section 504, Rehabilitation Act of 1973 (29 U.S.C. Section 794), and specified under 24 C.F.R. Part 8, Subpart C. This includes for all Developments, a minimum of five percent of the total dwelling Units or at least one Unit, whichever is greater, shall be made accessible for persons with mobility impairments. A Unit that is on an accessible route and is adaptable and otherwise compliant with sections 3-8 of the Uniform Federal Accessibility Standards (UFAS) meets this requirement. An additional two percent of the total dwelling Units, or at least one Unit, whichever is greater, shall be accessible for persons with hearing or vision impairments. Additionally, for Developments designed as Townhomes or other two-story dwelling Units, a minimum of 20% of each Unit type (i.e. one bedroom, two bedroom, three bedroom) must provide an accessible entry level and include a minimum of one bedroom and one bathroom or powder room at the entry level. Accessibility Requirements for 2001 Allocations or Determinations, Option 50.7(d)(1)(C). For up to 5% of all HTC units, the Development shall provide reasonable accommodation(s) or modification(s) on a one-time basis in conformance with ANSI A construction standards as requested by the tenant with a disability. The Development shall incur the related expense(s) for the reasonable accommodation(s) and/or modification(s). For properties that are designed as townhomes, the Development must include one bathroom and one bedroom on the ground level of 5% of all Units and meet Fair Housing standards. Accessibility Requirements for 1999 Allocations or Determinations, Option 50.6(c)(6)(B)(ii) and 2000 Allocations or Determinations, Option 49.6(c)(6)(B)(ii). The subject development provides Units specifically accessible to persons with physical, visual or hearing disabilities as required by 504 of the Rehabilitation Act of As required by 504, a one time inspection and corresponding Accessibility Transition Plan will be required upon completion of construction. Development Owners making this election must also comply with the Fair Housing Act. At a minimum, 5% of the units must be usable for persons with mobility impairments and 2% of the units shall be made accessible for people with hearing or visual impairments; or at a minimum 10% of the units must be usable for persons with mobility impairments and 2% of the units shall be made accessible for people with hearing or visual impairments. Handicapped Accessibility for 1997, 1998, 1999, and 2000 Allocations or Determinations Option 49.6(c)(6)(B)(i) The handicapped accessible units listed above were designed, constructed and equipped to meet American National Standards for buildings and facilities providing accessibility and usability for Persons with Disabilities [ANSI A or successor] and conform to the Fair Housing Act. Equipped means features that make the Units fully usable to such persons are installed in the Units at the time of construction or provisions have been included in construction for easy modification to meet the ANSI A117.1 standards. The Undersigned, architect, hereby certifies that the design information as set forth above is, to the best of his/her knowledge, true and accurate for the subject property. By: Architect Title: Date: Authorized Signature EXHIBIT 16A Architect s Certification of Fair Housing Requirements

22 EXHIBIT 17B: DEVELOPMENT OWNER'S ASSIGNMENT OF INDIVIDUAL TO COMPLIANCE TRAINING I, Development Owner, hereby designate <<Name of Individual>> to receive HTC compliance monitoring training given by or in association with the Texas Department of Housing and Community Affairs. <<Name of Individual>> represents the Development Owner in the capacity of <<Position of Individual>>. I, Development Owner, hereby acknowledge and agree that by designating another individual to receive HTC compliance monitoring training, the Development Owner does not relinquish any responsibility for compliance with the regulations and rules governing the Housing Tax Credit Program. <<Name of Individual>> represents the Development Owners for the following Housing Tax Credit Program Developments: TDHCA Development # Development Name Development Owner By: Title: Date: Authorized Signature EXHIBIT 17B Development Owner s Assignment of Individual to Compliance Training