MINIMUM REQUIREMENTS FOR AN ACCEPTABLE RESERVATION REQUEST

Transcription

1 LIHTCP-E - WVHDF ( ) WEST VIRGINIA HOUSING DEVELOPMENT FUND SUMMARY OF ATTACHMENTS TO SUPPORT RESPONSES PROVIDED ON AND OTHER ATTACHMENTS PAGE ATTACHMENT SUBMISSION NOT FILE NAMING MINIMUM REQUIREMENTS FOR AN ACCEPTABLE WVHDF Form 1040 Excel - PROPERTY Pages of WVHDF Form 1040 (Quality of Housing - fully initialed, signed and dated). Note: for scattered site properties, individual Quality of Housing sections must be submitted for each noncontiguous site which contains or will contain residential rental units QUALITY OF HOUSING - Page 30 of WVHDF Form 1040 (fully signed and notarized) SIGNATURE PAGE - 29 XXXI.E. Initial fee In the form of a check N/A Program Participants Eligibility Requirements Certification (LIHTCP-G AND Exhibit 1 to LIHTCP-G) PARTICIPANTS ELIGIBILITY CERT - Credit Check Authorization and Release Form (LIHTCP- I) CREDIT CHECK - XXII.A Set-Aside Category: IRS determination letter declaring the non-profit owner's tax-exempt status NON-PROFIT TAX EXEMPT STATUS - XXII.A Set-Aside Category: Certificate from an authorized officer of the non-profit entity regarding absence of adverse effect on IRS determination NON-PROFIT AUTHORIZED OFFICER CERT - PROPERTY Reservation Request Page 1 of 10 3/31/2014 1:30 PM

2 SUMMARY OF ATTACHMENTS TO SUPPORT RESPONSES PROVIDED ON AND OTHER ATTACHMENTS PAGE ATTACHMENT SUBMISSION NOT FILE NAMING XXII.A.7. Set-Aside Category: Nonprofit owner's articles of incorporation - exempt purposes include the fostering of low-income housing NON-PROFIT ARTICLES OF INC - XXII.A.9. Set-Aside Category: Description, in specific terms, the non-profit's participation in the development and operation of the property NON-PROFIT PARTICIPATION - XXII.A.11. Set-Aside Category: Nonprofit owner's resume evidencing at least five years of existence and at least three years of housing experience NON-PROFIT RESUME - XXII.A.12. Set-Aside Category: Description, in specific terms, the support services that the nonprofit entity will provide that are appropriate for the residents NON-PROFIT SUPPORT SERVICES - PROPERTY 15b XXII.A For HUD or RD Set- Aside Categories: Evidence of commitment from RD or HUD finance, guarantee, or subsidy programs RD OR HUD COMMITMENT - 15 XXII.B.1. A recorded deed, an option, or a purchase contract in the name of the ownership entity for the subject property SITE CONTROL - PROPERTY Compliance Monitoring Training Certification (LIHTCP-F) COMPLIANCE MONITORING TRAINING CERT - For properties involving rehab: Professionallyprepared and independent capital needs assessment CNA - Reservation Request Page 2 of 10 3/31/2014 1:30 PM

3 SUMMARY OF ATTACHMENTS TO SUPPORT RESPONSES PROVIDED ON AND OTHER ATTACHMENTS PAGE ATTACHMENT SUBMISSION NOT FILE NAMING Estimate of or proposal for the hard construction costs and builder's line items CONSTRUCTION ESTIMATE - 29 XXX. Written notification submitted to the CEO of the local jurisdiction AND copy of the delivery receipt CEO NOTIFICATION - For Tax-Exempt Bond Properties: Evidence that the issuer has been allocated bond authority for the property BOND AUTHORITY LETTER - Comprehensive market study including the Residential Rental Housing Stock Occupancy Summary MARKET STUDY - SELECTION & PREFERENCE CRITERIA BACKUP DOCUMENTATION Property Characteristics and Set-Aside Categories 15 XXII.A.2. For properties which include the use of existing housing: A copy of the community revitalization plan and evidence of approval by the appropriate governing body EXISTING HOUSING CRP - Permanent Financing intent from Source 1 SOURCE 1 - PROPERTY intent from Source 2 SOURCE 2 - PROPERTY Reservation Request Page 3 of 10 3/31/2014 1:30 PM

4 SUMMARY OF ATTACHMENTS TO SUPPORT RESPONSES PROVIDED ON AND OTHER ATTACHMENTS PAGE ATTACHMENT SUBMISSION NOT FILE NAMING intent from Source 3 SOURCE 3 - PROPERTY intent from Source 4 SOURCE 4 - PROPERTY intent from Source 5 SOURCE 5 - PROPERTY intent from Source 6 SOURCE 6 - PROPERTY intent from Source 7 SOURCE 7 - PROPERTY intent from Source 8 SOURCE 8 - PROPERTY intent from Source 9 SOURCE 9 - PROPERTY Reservation Request Page 4 of 10 3/31/2014 1:30 PM

5 SUMMARY OF ATTACHMENTS TO SUPPORT RESPONSES PROVIDED ON AND OTHER ATTACHMENTS PAGE ATTACHMENT SUBMISSION NOT FILE NAMING intent from Source 10 SOURCE 10 - PROPERTY intent from Source 11 SOURCE 11 - PROPERTY Syndication of Investment Interests and Tax Credits 15 XXII.B.3.a. Fully executed partnership/operating agreement PARTNERSHIP AGREEMENT - OR OPERATING AGREEMENT - - OR - 15 XXII.B.3.b. Fully-executed written firm commitment equity agreement FIRM EQUITY AGREEMENT - - OR - 15 XXII.B.3.c. Fully-executed letter of intent/interest LETTER OF INTENT - Developer Experience in the Low-Income Housing Tax Credit Program 15 XXII.B.4.a. IRS Forms 8609 for six or more placed in service LIHTCP properties DEVELOPER EXPERIENCE 8609S - 15 XXII.B.4.b. For properties involving co-developers: Development Services Agreement evidencing share of work and compensation DEVELOPMENT SERVICES AGREEMENT - PROPERTY Developer's and General Partner's Timely Delivery of Units 16 XXII.B.6. Timely Delivery of Units Certification (LIHTCP- K) TIMELY DELIVERY - General Partner Portfolio Occupancy Rate 16 XXII.B.7. General Partner Portfolio Occupancy Rate (LIHTCP-J) GP PORTFOLIO OCCUPANCY RATE - Participation in the Most Recent WVHDF Application Workshop Reservation Request Page 5 of 10 3/31/2014 1:30 PM

6 SUMMARY OF ATTACHMENTS TO SUPPORT RESPONSES PROVIDED ON AND OTHER ATTACHMENTS PAGE ATTACHMENT SUBMISSION NOT FILE NAMING 16 XXII.B.8.a. or b. Certificates of attendance for principals of the developer who attended all days of the most recent WVHDF Application Workshop APPLICATION WORKSHOP PRINCIPAL CERTS - 16 XXII.B.8.c. Certificates of attendance for employees of the developer who attended all days of the most recent WVHDF Application Workshop APPLICATION WORKSHOP EMPLOYEE CERTS - Property Location and Housing Needs Characteristics 17 XXII.C.6. Letter of support without qualification or limitation from the CEO of the locality CEO LOCAL SUPPORT - Sponsor Characteristics 17 XXII.D.1. Description, in specific terms, of the extent and nature of women or minority participation in property development MINORITY PARTICIPATION IN DEVELOPMENT - 17 XXII.D.2. Description, in specific terms, of the extent and nature of women or minority participation in property management MINORITY PARTICIPATION IN MANAGEMENT - 17 XXII.D.3. IRS determination letter declaring the non-profit sponsor's (owner's) taxexempt status NON-PROFIT DETERMINATION LETTER - 17 XXII.D Description, in specific terms, the percentage of ownership AND the appropriate support services that will be provided to the residents of the property by a private non-profit or a public housing authority NON-PROFIT SPONSORSHIP - Persons on a Public Housing Waiting List Reservation Request Page 6 of 10 3/31/2014 1:30 PM

7 SUMMARY OF ATTACHMENTS TO SUPPORT RESPONSES PROVIDED ON AND OTHER ATTACHMENTS PAGE ATTACHMENT SUBMISSION NOT FILE NAMING 17 XXII.F.1. Properly completed, fully executed (by the owner and PHA), and witnessed LIHTCP-6 or LIHTCP- 6B PHA AGREEMENT - 17 XXII.F.1. PHA's written refusal to enter into either LIHTCP- 6 or LIHTCP-6B PHA REFUSAL - PROPERTY Properties Committed to Eventual Tenant Ownership 18 XXII.G.2. Business plan describing how the residential rental units will be converted to tenant ownership EVENTUAL TENANT OWNERSHIP - PROPERTY Historic Nature of Property 18 XXII.H.1. Evidence that the property involves the rehabilitation of a certified historic structure HISTORIC NATURE EVIDENCE - PROPERTY 18 XXII.H.1. Evidence that the rehabilitation of such structures will be completed in such a manner to be eligible for federal and/or State historic rehabilitation tax credits HISTORIC REHAB EVIDENCE - PROPERTY Preference for Community Revitalization Properties Located in Qualified Census Tracts 18 XXII.K. For properties located in a QCT: A copy of the community revitalization plan and evidence of approval by the appropriate governing body CRP IN A QCT - PROPERTY Quality of Housing 19 XXII.L.2.a. or b. Evidence of the size of the site (in acres or square feet) SITE SIZE - PROPERTY 22 XXII.L.14. Property architect's and contractor's Fair Housing and Americans with Disabilities Act training certifications FH/ADA TRAINING - Reservation Request Page 7 of 10 3/31/2014 1:30 PM

8 SUMMARY OF ATTACHMENTS TO SUPPORT RESPONSES PROVIDED ON AND OTHER ATTACHMENTS PAGE ATTACHMENT SUBMISSION NOT FILE NAMING 22 XXII.L.15. Agenda and certificate of attendance for a principal of the developer or contractor who attended a green building conference GREEN BUILDING CONFERENCE - PROPERTY OTHER ATTACHMENTS Taxpayer Identification Number 1 IV. Taxpayer identification number backup TIN - 1 IV. Organizational Chart of Ownership (Down to Individual Level) OWNERSHIP CHART - Calculation of Acquisition of Existing Structures 3 VII.2. For A & R Properties: Calculation of acquisition of existing structures ACQUISITION OF EXISTING STRUCTURES - PROPERTY Syndication of Investment Interests and Tax Credits 7 XIII. If the applicant was unable to obtain an executed partnership/ operating agreement, a written firm commitment equity agreement, or a letter of intent/interest for points, written response from a syndicator/equity provider SYNDICATOR WRITTEN RESPONSE - PROPERTY Sources of Funds 8 XIV.A Evidence of the amount of state and/or federal historic tax credits and equity generated for the buildings in the property HISTORIC CREDIT EQUITY - Utility Allowance and Property-Based Rental Assistance 9 XV.A.-B. Support for the tenant paid utility allowances UA - 9 XVI.C. Evidence of propertybased rental assistance RA - Property Estimated Annual Expense Information Reservation Request Page 8 of 10 3/31/2014 1:30 PM

9 SUMMARY OF ATTACHMENTS TO SUPPORT RESPONSES PROVIDED ON AND OTHER ATTACHMENTS PAGE ATTACHMENT SUBMISSION NOT FILE NAMING 12 XIX.A. - D. For properties involving rehab of existing housing: The property's most recent audited financial statements AUDITED FINANCIALS - 12 XIX.D. Property specific estimate for real estate taxes TAX ESTIMATE - PROPERTY 12 XIX.D. Property specific estimate for property and liability insurance INSURANCE ESTIMATE - Property Annual Cash Flow 13 XX. Support for vacancy allowance percentage (e.g. pertinent pages of the market study) VACANCY ALLOWANCE - 13 XX. Support for additions to the replacement reserve AND estimated increase (e.g. syndication or loan documentation) REPLACEMENT RESERVE - 13 XX. Support for asset management fee AND estimated annual increase (e.g. syndication or loan documentation) AM FEE - Ten Year Requirement and Previous Allocation of Low-Income Housing Tax Credits 24 XXIV.A.1. Evidence of placed in service date (by the latest owner) of the most recently placed in service building in the property (e.g. depreciation schedule) LAST PIS DATE - PROPERTY 24 XXIV.D. Previously issued IRS Forms 8609 for each building in the property with Part II completed PREVIOUSLY ISSUED 8609S - Census Tract Location Reservation Request Page 9 of 10 3/31/2014 1:30 PM

10 SUMMARY OF ATTACHMENTS TO SUPPORT RESPONSES PROVIDED ON AND OTHER ATTACHMENTS PAGE ATTACHMENT SUBMISSION NOT FILE NAMING 27 XXVII.N.1. Evidence of the property's census tract location (whether Qualified OR not) CENSUS TRACT MAP - Miscellaneous LIHTCP-E (Reservation Request) - Summary of Attachments to Support Responses on Form 1040 and Other Attachments Excel or SUMMARY OF ATTACHMENTS - Chain of title summary covering at least ten years from the date the site control was executed CHAIN OF TITLE - Site plan showing building locations SITE PLAN - PROPERTY Survey plat with metes and bounds SURVEY PLAT - PROPERTY Property Architect's site suitability rating (superior, good, average, fair, or poor) ARCHITECT SITE RATING - SHADING INDICATES EITHER THAT NO RESPONSE IS NECESSARY OR THE RESPONSE SHADED IS NOT AN ACCEPTABLE RESPONSE. All documents, with the exception of the initial fee must be submitted via the WVHDF portal into the Reservation Request folder. The WVHDF no longer accepts paper applications. Reservation Request Page 10 of 10 3/31/2014 1:30 PM