Purchase of City-Owned Property Application * Department of Housing and Community Development Land Resources Division SUMMARY OF PROCESS The Baltimore City Department of Housing and Community Development s Land Resources Division accepts applications/proposals for available City-owned properties. A list of these properties is available at www.vacantstovalue.org/propertysearch.aspx. You may also obtain a copy of the property list at 417 E. Fayette Street, 10 th Floor Room 1037, Baltimore, MD 21202, between the hours of 8:30 a.m. and 4:30 p.m or call us at 410-396-4111. Awards will be based on information contained in your application package and the applications from other buyers; if any are received. By submitting an application, you give DHCD the authorization to request a credit report or verify any information submitted. Proposal Review DHCD will review applications to determine the following: The appropriateness of the proposed development The feasibility of the proposed development The capacity of the applicant to undertake and complete the project The ability to demonstrate appropriate financial resources, an acceptable credit history, a record of responsible property ownership and management, and, where applicable, previous development experience Additional submission requirements include the following: The application must be completed in full. If the proposed buyer is an LLC, limited partnership, corporation, or other limited liability entity, said entity must be registered and in good standing with the Maryland Department of Assessments and Taxation The Buyer must have no current housing code violations in Baltimore City For LLCs, partnerships and/or corporations, current housing code violations must not be associated with any of the principals of the LLC, partnership, or corporation. The Buyer must be current on all taxes due to Baltimore City. The development plan must be consistent with the property s existing or permitted uses. (Buyer should not propose rehab of a site when the property is a vacant lot) * Availability of properties is subject to change. Your signature on the application indicates you understand that, in accordance with the provisions of the Maryland Public Information Act (Maryland Code, State Government 10-601, et seq.), certain information you provide in this application may be subject to disclosure in response to a qualifying request.
For proposed new construction, proposed development requiring a use permit, or any proposed zoning changes, a letter of support from the community association(s) and/or the Comprehensive Planner (Department of Planning) is required. DHCD will issue a conditional award for the proposed use pending approval from the appropriate city agency. In such case, approval from the required City agency is mandatory before settlement shall occur. Price Properties are advertised for sale on the Department s web site with a price that has been determined by the department pursuant to the s Appraisal Policy. Any reasonable offer submitted with a complete application package will be reviewed. Notification Schedule and Deposit Buyers will be notified in writing of an award decision within three (3) weeks of submission of a completed application. The buyer shall sign the award letter and return with deposit within seven (7) business days. If the signed award letter not received by the deadline, the award offer will be rescinded and your original proposal will be sent back to you. If the City receives multiple offers for the same property, the City may request additional information from all buyers. A deposit of ten (10%) percent of the purchase price (per property) is due within seven (7) business days upon receipt and acceptance of the award letter. The deposit is applied to the purchase price at the time of settlement. The deposit is NOT refundable if the buyer fails to reach settlement. (See terms below.) Rights of Entry Entry to the property is prohibited without obtaining an Inspection Right of Entry from Land Resources Division. Prospective buyers who wish to gain entrance to properties should contact our offices at 410.396.4793. All properties are awarded and sold in as is condition. Appraisals Pursuant to the appraisal policy of the, all properties valued at more than $20,000 require an appraisal performed by a licensed, DHCD-approved appraiser (list will be included in award letter). The buyer is responsible for paying the appraisal company in advance by Certified Check, Cashier s Check, or Money Order within seven (7) business days from the date of the award letter. The appraisal fee is NOT refundable. Settlement Terms of Sales under this process are as follows: The deposit is NOT refundable if the buyer fails to reach settlement (see terms below) Settlement shall occur within 90 days of the execution of the Land Disposition Agreement (LDA) Settlement shall occur only upon evidence satisfactory to the Seller that the buyer has: o construction plans for the renovation of the Property o a timeline for the development o a fully executed construction contract for the complete renovation of the Property in accordance with the approved construction plan o verified funds and/or legally binding loan commitments in amounts sufficient to complete the renovation of the Property in accordance with the approved construction plans Property will be delivered free and clear of all liens at settlement A Land Disposition Agreement (LDA) functions as a real estate contract of sale Last updated April 2015 Page 2
Submission: Submit completed application to: Open Bid Program c/o DHCD Office of Land Resources Attn: Teresa Stephens 417 East Fayette Street, Room 1047 Baltimore, Maryland 21202 email: VacantsToValueInfo@BaltimoreCity.gov fax: 410-396-1667 or 410-396-3682 A processing fee of $100.00 is due with application. No application fee is required for applications for side-yard purchases by adjacent owner-occupants. (Certified Checks, Cashier s Check or Money Orders should be made payable to the Director of Finance The City reserves the right to reject or disqualify proposals that are submitted in improper format or are incomplete. The City further reserves the right to remove a property from Open Bid at any time. The application fee is nonrefundable except in cases where the property is removed from the Open Bid list and will no longer be made available for sale. Contents of an Offer In submitting a bid, please provide the following information as appropriate for your proposal. Provide one (1) signed original and one (1) copy. Application Fee Form A Property and Buyer Information (Required) Form B Development Plan (Required) Form C Development Budget (Required) Form C.2 Sources & Uses Statement (Required) Form D Development Pro Forma (Required only for rental projects) Form E Financial Asset Form (Individual Buyers Only) Form F Financial Asset Form (Business Entities Only) Form G City Owned Property Disclosure Form H Informational Guidelines for Area Median Income Standards for State of MD Last updated April 2015 Page 3
FORM A PROPERTY AND BUYER INFORMATION A.1. PROPERTY INFORMATION BLOCK / LOT # ADDRESS OF PROPERTY FOR WHICH BID IS SUBMITTED 0320/047 538 ROBERT NEIGHBORHOOD UPTON LIST PRICE (FROM WEBSITE) OFFER PRICE FOR PROPERTY 0320/046 540 ROBERT UPTON 0320/045 542 ROBERT UPTON 0320/044 544 ROBERT UPTON ASESSED 0320/043 546 ROBERT UPTON 0320/042 548 ROBERT UPTON 0320/041 550 ROBERT UPTON $9750 Last updated April 2015 Page 4
BLOCK / LOT # ADDRESS OF PROPERTY FOR WHICH BID IS SUBMITTED 0320/040 552 ROBERT NEIGHBORHOOD UPTON LIST PRICE (FROM WEBSITE) OFFER PRICE FOR PROPERTY 0320/039 554 ROBERT UPTON 0320/038 556 ROBERT UPTON 0320/037 558 ROBERT UPTON 0076/041 910 N. CALHOUN SANDTOWN- WINCHESTER 0076/040 912 N. CALHOUN SANDTOWN- WINCHESTER 0076/039 914 N. CALHOUN SANDTOWN- WINCHESTER Last updated April 2015 Page 5
BLOCK / LOT # ADDRESS OF PROPERTY FOR WHICH BID IS SUBMITTED 0076/038 916 N. CALHOUN NEIGHBORHOOD SANDTOWN- WINCHESTER LIST PRICE (FROM WEBSITE) OFFER PRICE FOR PROPERTY 0076/037 918 N. CALHOUN SANDTOWN- WINCHESTER TOTAL VALUES $16,000 TOTAL OFFERING PRICE $156,000 Last updated April 2015 Page 6
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A.2. BUYER INFORMATION Name of Buyer/Entity : & Social Security #/SDAT ID/EIN: Address: Contact Person: Volunteers of America Chesapeake, Inc. Corporation s EIN: 52-0610547 7901 Annapolis Road Lanham, Maryland 20706 D. Dusky Holman, Vice President and General Counsel Telephone Number: 240-278-3195 Fax Number 301-560-8505 Email Address: dholman@voaches.org Address of Property(ies) Owned N/A Adjacent to Property Sought, if applicable. (Attach evidence of ownership) Property Use Currently vacant/undeveloped. Proposed development of new construction for affordable veterans housing Proposed Completion Date Spring, 2017 Please be advised that HCD will use the above contact information to keep the buyer informed about the process, to request additional information, and to give notice of buyer selection. How did you hear about this opportunity? Walter Horton of Department of Real Estate and Olivia Farrow of the Mayor s Office of Human Services. Last updated April 2015 Page 9
A.3. DISCLOSURES Check the boxes below regarding each individual and/or business entity buyer and any of the business entities listed above. For each item listed below answered in the affirmative, please provide a full explanation including, as appropriate, (1) date, (2) charge, (3) place, (4) court and case number, (5) action taken, and (6) current disposition. Attach documentation as necessary. 1. Buyer is a party in a pending lawsuit. Yes X No 2. Buyer has a conviction or pending case for fraud, bribery or grand Yes X No 3. Buyer has a conviction or pending case for arson Yes X No 4. Buyer has been indicted for or convicted of any felony within the past 10 years Yes X No 5. Buyer has been a debtor in a bankruptcy proceeding, either voluntary or involuntary, within the past 10 years Yes X No 6. Buyer has unpaid delinquent taxes, municipal liens, and/or outstanding civil money judgments Yes X No 7. Buyer has been declared in default of a loan or failed to complete a development project Yes X No 8. Buyer has failed to complete or currently in violation of a Land Disposition Agreement or other agreement involving the Yes X No 9. Buyer owns a property that is currently subject to a Vacant House Notice or other housing code violation in Baltimore City or elsewhere Yes X No 10. Buyer has failed to obtain required permit for work performed. Yes X No 11. Buyer has failed to register a currently owned, non-owner occupied dwelling unit in Baltimore City as required by Baltimore City Code Art. 13 4 Yes X No 12. Buyer has failed to comply with inspection and/or registration requirements under the Maryland Lead Law. (Maryland Code, Environment 6-801 et seq.; Maryland Code, Real Property 8-208.2) Yes X No 13. Buyer is in arrears on its payments to the and/or has outstanding liens or other obligations owed the City. Yes X No Last updated April 2015 Page 10
A.4. CERTIFICATION I, (Print Name) am the buyer or an officer authorized to make a binding contractual commitment for the Buyer. I acknowledge that failure to disclose a material fact or to misrepresent a fact can result in a rejection of my participation in the Open Bid program. I certify that all of the information contained in my application to purchase is true and correct to the best of my knowledge and belief. I understand by signing this form that the City may, at its choosing, conduct a credit check with and may conduct additional background checks. Signature Signature Date Date Last updated April 2015 Page 11
FORM B. DEVELOPMENT PLAN (Required) Provide a summary of your development plans. Please include your total private investment, a summary of your development experience and background, and a description of proposed use (residential, commercial, etc); type of development (new construction, rehab); number of units; type of units (rental, home ownership, condominium) and any other relevant details, such as how this project eliminates blight. Volunteers of America Chesapeake, Inc. ( VOAC ) is a health and human services nonprofit organization, which has been serving our region s most vulnerable populations for many decades. VOAC owns over 500 units of housing in the Baltimore area and provides supportive services to the formerly chronically homeless, individuals with intellectual disabilities, individuals with mental and physical health issues, ex-offenders and veterans and their families. Throughout the Chesapeake region (Virginia, District of Columbia and Maryland), VOAC served the needs of over 8,000 men, women and children in 2014. The following programs are currently being operated by VOAC specifically in Baltimore City: Baltimore Mental Health Services Program providing psychiatric and residential rehabilitation services to 28 adults with mental illness in 6 scattered sites throughout the city. Irvington Woods Apartments Seventy-one (71) units of permanent supportive housing located less than one (1) mile from Beacon House. Paca House One hundred and six (106) units of permanent supportive housing (30 efficiency apartments and 76 SRO s) located in the city s downtown business district. Pratt House Thirty-five (35) units of transitional housing providing case management and supportive services to formerly homeless families with two or more children. Residential Re-Entry Center A one hundred and fifty (150) bed federal halfway house assisting men and women in making a successful transition from federal prison to the community through pre-release and work-release programs. In northern Virginia, VOAC is a grant recipient from the Veterans Administration under the VA s Supportive Services for Veteran Families Program ( SSVF ). Through SSVF, VOAC assists low-income veteran families residing in or transitioning to permanent housing and provides a range of services to these families, including: healthcare services, daily living services, personal financial planning services, transportation services, fiduciary and payee services, legal services, childcare services and housing counseling services. VOAC is currently waiting on a decision from the VA on a similar SSVF grant application it has filed to provide the same services for veteran families in Baltimore City. The above squarely aligns with VOAC s development plans and proposed use of the properties sought in this application. VOAC intends to develop the properties for new construction of townhouses to provide permanent supportive housing with a veteran s preference. On the Robert Street lots, VOAC is proposing to build 7 townhouses, including 21 units of housing, 15 one bedroom units and 6 efficiencies. On the North Calhoun Street lots, VOAC is proposing to build 3 townhouses, including 18 units of housing, all one bedroom units. Given the wraparound services VOAC already provides in the immediate vicinity, the occupants of the units will have access to and be provided the same services referenced above. All units would be rental housing supported through VASH and project-based vouchers, and the intention is to fulfill the national trend towards HUD s Housing First model. The total project cost is estimated to be $4 million, which will be derived from various sources, including funding from DHCD, Federal Home Loan Bank s Affordable Housing Program grant, private foundation grants, conventional construction financing and VOAC equity. VOAC equity is estimated to be $345,000. Please see the project pro forma, budget and sources and uses for more detailed information. The properties proposed to be purchased are currently undeveloped and vacant, and to VOAC s knowledge have always been in such a state. The assessed value of the individual, undersized lots is $1,000 each. The development and construction of new townhouses on formerly vacant land will certainly eliminate blight in the area and will encourage further residential and commercial development in the vicinity. Last updated April 2015 Page 12
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FORM C Sources & Uses Statement (Required) Robert Street & Calhoun Street Combined Sources & Uses Buyer Equity - Cash List by source and provide terms Amount VOAC Equity 345,243 Buyer Equity Other List by source and provide terms Private Debt List by source and provide terms Construction Loan (Lender TBD) 980,000 Public Debt List by source and provide terms Other Public Support - List by source and provide terms Grant - MD Department of Veterans Affairs 406,000 Shelter Transitional Housing Grant MD DHCD 1,600,000 Grant Individual Giving and/or Foundation (TBD) 700,000 Other (Specify): Total Sources 4,031,243 Uses (including, but be not limited to, all applicable items listed below) Acquisition 160,000 Hard Costs (e.g., trades such as plumbing, electrical, heating and 3,458,358 ventilation, masonry, carpentry, roofing, etc.) Soft Costs (e.g., architectural engineer, legal and accounting, permits, 412,885 etc.) Total Uses 4,031,243 Net $0 You must provide supporting documentation for all sources including letters of commitment from lending institutions, bank statements, etc. Last updated April 2015 Page 14
538 558 Robert Street Sources & Uses Buyer Equity - Cash List by source and provide terms Amount VOAC Equity 194,542 Buyer Equity Other List by source and provide terms Private Debt List by source and provide terms Construction Loan (Lender TBD) 680,000 Public Debt List by source and provide terms Other Public Support - List by source and provide terms Grant - MD Department of Veterans Affairs 203,000 Shelter Transitional Housing Grant MD DHCD 800,000 Grant Individual Giving and/or Foundation (TBD) 500,000 Other (Specify): Total Sources $2,377,542 Uses (including, but be not limited to, all applicable items listed below) Acquisition 80,000 Hard Costs (e.g., trades such as plumbing, electrical, heating and 2,062,220 ventilation, masonry, carpentry, roofing, etc.) Soft Costs (e.g., architectural engineer, legal and accounting, permits, 235,322 etc.) Total Uses $2,377,542 Net $0 Last updated April 2015 Page 15
910 918 Calhoun Street Sources & Uses Buyer Equity - Cash List by source and provide terms Amount VOAC Equity 150,701 Buyer Equity Other List by source and provide terms Private Debt List by source and provide terms Construction Loan (Lender TBD) 300,000 Public Debt List by source and provide terms Other Public Support - List by source and provide terms Grant - MD Department of Veterans Affairs 203,000 Shelter Transitional Housing Grant MD DHCD 800,000 Grant Individual Giving and/or Foundation (TBD) 200,000 Other (Specify): Total Sources $1,653,701 Uses (including, but be not limited to, all applicable items listed below) Acquisition 80,000 Hard Costs (e.g., trades such as plumbing, electrical, heating and 1,396,138 ventilation, masonry, carpentry, roofing, etc.) Soft Costs (e.g., architectural engineer, legal and accounting, permits, 177,563 etc.) Total Uses $1,653,701 Net $0 Last updated April 2015 Page 16
FORM D DEVELOPMENT PRO FORMA *this form needs to be completed for all rental property(ies) Last updated April 2015 Page 17
Robert Street & Calhoun Street Combined 10-Year CF Revenue Residential Rent Commercial Rent Parking Income Other Revenue (specify): Total Gross Revenue Deductions from Revenue Vacancy Losses Collection Losses Other Deductions (specify): Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 354,551 425,548 434,059 442,740 451,595 460,627 469,839 479,236 488,821 498,597 354,551 425,548 434,059 442,740 451,595 460,627 469,839 479,236 488,821 498,597 25,836 42,555 43,406 44,274 45,160 46,063 46,984 47,924 48,882 49,860 Total Effective Revenue Expenses Real Property Taxes Personal Property Taxes Parking Taxes Payroll and Fringe Benefits Repairs and Replacements Management Fee (6%) Utilities Security Other Mgmt Costs (specify): Affiliate Fee (2.25%) 328,715 382,993 390,653 398,466 406,436 414,564 422,856 431,313 439,939 448,738 91,677 93,720 95,810 97,949 100,136 102,375 104,666 107,009 109,407 111,861 11,315 11,541 11,772 12,008 12,248 12,493 12,743 12,997 13,257 13,522 19,723 22,980 23,439 23,908 24,386 24,874 25,371 25,879 26,396 26,924 70,200 71,604 73,036 74,497 75,987 77,506 79,057 80,638 82,250 83,895 7,396 8,617 8,790 8,965 9,145 9,328 9,514 9,705 9,899 10,097 Other Expenses (specify): Professional Fees & Contract Services 21,887 22,325 22,771 23,227 23,691 24,165 24,648 25,141 25,644 26,157 Insurance 46,800 47,736 48,691 49,665 50,658 51,671 52,704 53,758 54,834 55,930 Total Expenses 268,998 278,523 284,309 290,218 296,251 302,412 308,703 315,127 321,688 328,387 Net Operating Income 59,717 104,471 106,344 108,249 110,185 112,152 114,153 116,185 118,251 120,351 Debt Service First Mortgage (Lender: ) 84,252 84,252 84,252 84,252 84,252 84,252 84,252 84,252 84,252 84,252 Second Mortgage (Lender: ) Total Debt Service 84,252 84,252 84,252 84,252 84,252 84,252 84,252 84,252 84,252 84,252 Less: CapEx Reserve 9,750 9,945 10,144 10,347 10,554 10,765 10,980 11,200 11,424 11,652 CASH FLOW (34,285) 10,273 11,948 13,650 15,379 17,135 18,920 20,733 22,575 24,447 Last updated April 2015 Page 18
338 558 Robert Street 10-Year CF Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Revenue Residential Rent 199,613 242,022 246,862 251,799 256,835 261,972 267,211 272,556 278,007 283,567 Commercial Rent Parking Income Other Revenue (specify): Total Gross Revenue 199,613 242,022 246,862 251,799 256,835 261,972 267,211 272,556 278,007 283,567 Deductions from Revenue Vacancy Losses 13,841 24,202 24,686 25,180 25,684 26,197 26,721 27,256 27,801 28,357 Collection Losses Other Deductions (specify): Total Effective Revenue Expenses Real Property Taxes Personal Property Taxes Parking Taxes Payroll and Fringe Benefits Repairs and Replacements Management Fee (6%) Utilities Security Other Mgmt Costs (specify): Affiliate Fee (2.25%) 185,772 217,819 222,176 226,619 231,152 235,775 240,490 245,300 250,206 255,210 54,667 55,885 57,132 58,407 59,711 61,046 62,412 63,810 65,239 66,703 6,747 6,882 7,020 7,160 7,303 7,449 7,598 7,750 7,905 8,063 11,146 13,069 13,331 13,597 13,869 14,146 14,429 14,718 15,012 15,313 37,800 38,556 39,327 40,114 40,916 41,734 42,569 43,420 44,289 45,174 4,180 4,901 4,999 5,099 5,201 5,305 5,411 5,519 5,630 5,742 Other Expenses (specify): Professional Fees & Contract Services 14,262 14,548 14,839 15,135 15,438 15,747 16,062 16,383 16,711 17,045 Insurance 25,200 25,704 26,218 26,742 27,277 27,823 28,379 28,947 29,526 30,116 Total Expenses 154,002 159,545 162,864 166,254 169,716 173,251 176,861 180,547 184,312 188,156 Net Operating Income 31,770 58,274 59,311 60,365 61,436 62,524 63,629 64,753 65,894 67,054 Debt Service First Mortgage (Lender: ) 58,461 58,461 58,461 58,461 58,461 58,461 58,461 58,461 58,461 58,461 Second Mortgage (Lender: ) Total Debt Service 58,461 58,461 58,461 58,461 58,461 58,461 58,461 58,461 58,461 58,461 Less: CapEx Reserve 5,250 5,355 5,462 5,571 5,683 5,796 5,912 6,031 6,151 6,274 CASH FLOW (31,941) (5,541) (4,612) (3,667) (2,708) (1,733) (744) 261 1,282 2,319 Last updated April 2015 Page 19
910 918 Calhoun Street 10-Year CF Revenue Residential Rent Commercial Rent Parking Income Other Revenue (specify): Total Gross Revenue Deductions from Revenue Vacancy Losses Collection Losses Other Deductions (specify): Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 154,938 183,527 187,197 190,941 194,760 198,655 202,628 206,681 210,814 215,031 154,938 183,527 187,197 190,941 194,760 198,655 202,628 206,681 210,814 215,031 11,995 18,353 18,720 19,094 19,476 19,866 20,263 20,668 21,081 21,503 Total Effective Revenue Expenses Real Property Taxes Personal Property Taxes Parking Taxes Payroll and Fringe Benefits Repairs and Replacements Management Fee (6%) Utilities Security Other Mgmt Costs (specify): Affiliate Fee (2.25%) 142,943 165,174 168,477 171,847 175,284 178,790 182,365 186,013 189,733 193,528 37,010 37,835 38,678 39,542 40,425 41,329 42,253 43,200 44,168 45,158 4,568 4,659 4,752 4,847 4,944 5,043 5,144 5,247 5,352 5,459 8,577 9,910 10,109 10,311 10,517 10,727 10,942 11,161 11,384 11,612 32,400 33,048 33,709 34,383 35,071 35,772 36,488 37,217 37,962 38,721 3,216 3,716 3,791 3,867 3,944 4,023 4,103 4,185 4,269 4,354 Other Expenses (specify): Professional Fees & Contract Services 7,625 7,777 7,933 8,091 8,253 8,418 8,587 8,758 8,934 9,112 Insurance 21,600 22,032 22,473 22,922 23,381 23,848 24,325 24,812 25,308 25,814 Total Expenses 114,995 118,978 121,445 123,963 126,535 129,161 131,842 134,580 137,376 140,230 Net Operating Income 27,948 46,196 47,033 47,884 48,749 49,629 50,523 51,433 52,357 53,297 Debt Service First Mortgage (Lender: ) 25,791 25,791 25,791 25,791 25,791 25,791 25,791 25,791 25,791 25,791 Second Mortgage (Lender: ) Total Debt Service 25,791 25,791 25,791 25,791 25,791 25,791 25,791 25,791 25,791 25,791 Less: CapEx Reserve 4,500 4,590 4,682 4,775 4,871 4,968 5,068 5,169 5,272 5,378 CASH FLOW (2,344) 15,815 16,560 17,317 18,087 18,869 19,664 20,472 21,293 22,128 Last updated April 2015 Page 20
FORM E FINANCIAL ASSET FORM (INDIVIDUAL BUYERS) THIS INFORMATION IS PRESENTED WITH THE UNDERSTANDING THAT IT MAY BE USED AS A BASIS FOR THE ACCEPTANCE OF A CONTRACT BY THE SELLER AND FURTHER AUTHORIZES THE SELLER TO OBTAIN VERFIFICATION FROM ANY SOURCE NAMED HEREIN OR FROM ANY CREDIT REPORTING AGENCY BY OBTAINING A CREDIT REPORT CONTAINING CREDIT CARD OR OTHER ACCOUNT NUMBERS OF THE UNDERSIGNED. Purchaser (Full Name) Birth date Soc.Sec. Home Phone ( ) Mobile Phone: ( ) Business Phone ( ) Present Address Years at Present Address Total Monthly Housing Costs (mortgage or rent) $ /month Previous Address (if at current residence less than two years) How Long? Married? Yes( ) No( ) # Dependents Ages Occupation (Position & Type of Business) Place of Employment (Name & Address) No of years Previous Employer (Name & Address) No of years (Show all employment for the past two years, use reverse if needed) Co-Purchaser (Full Name) Birth Date Soc.Sec. Home Phone ( ) Mobile Phone: ( ) Business Phone ( ) Present Address Years at Present Address Total Monthly Housing Costs (mortgage or rent) $ /month Previous Address (if at current residence less than two years) How Long? Married? Yes ( ) No ( ) # Dependents Ages Occupation (Position & Type of Business) Place of Employment (Name & Address) No of years Previous Employer (Name & Address) No of years (Show all employment for the past two years, use reverse if needed) (Show all employment for at least 24-mos. Use reverse if needed) ASSETS GROSS ANNUAL INCOME PURCHASER CO-PURCHASER Base Salary $ $ Overtime $ $ Bonuses $ $ Commissions $ $ Dividends $ $ Net Rental Income $ $ Net Self Employed $ $ Other* $ $ ASSETS Bank Names Checking $ $ Savings $ $ Credit Union $ Stocks $ Life Insurance $ Other Assets $ (Specify Below) *Alimony, child support or separate maintenance income need not be revealed unless you choose to have it considered as a basis for qualifying for mortgage financing. Last updated April 2015 Page 21
Do you intend to occupy this property as your permanent residence? ( )Yes ( )No Present Residence (if owned) Mkt. Value $ Mtg.Bal. $ Lender LIABILITIES (List outstanding obligations, including auto loans, mortgage payments, credit cards, charge accounts, credit union loans, personal loans and all other debts use reverse side if necessary.) MONTHLY UNPAID DATE CREDITOR S NAME PAYMENT BALANCE DUE $ $ $ $ $ $ TOTALS $ $ ALIMONY $ CHILD SUPPORT $ CHILD CARE $ Last updated April 2015 Page 22
FORM F FINANCIAL ASSET FORM (BUSINESS ENTITIES) THIS INFORMATION IS PRESENTED WITH THE UNDERSTANDING THAT IT MAY BE USED AS A BASIS FOR THE ACCEPTANCE OF A CONTRACT BY THE SELLER AND FURTHER AUTHORIZES THE SELLER TO OBTAIN VERFIFICATION FROM ANY SOURCE NAMED HEREIN OR FROM ANY CREDIT REPORTING AGENCY BY OBTAINING A CREDIT REPORT CONTAINING CREDIT CARD OR OTHER ACCOUNT NUMBERS OF THE UNDERSIGNED. Business Entity Name: Volunteers of America Chesapeake Inc. Business Entity Telephone Number: 301-459-2020 Business Entity Address: 7901 Annapolis Road, Lanham, MD 20706 Date of Incorporation, Formation or Licensure: August 19, 1987 EIN#: 52-0610547 Is the Business Entity in Good Standing? X Yes No If not in good standing, please explain List all entity principals and/or business partners: Russell K. Snyder, President/CEO BUSINESS ASSETS (Please see attached annual audit for fiscal year ended 6/30/14) GROSS ANNUAL INCOME ASSETS Bank Names Checking $ PURCHASER CO-PURCHASER $ Savings $ Net Revenues $ $ $ Contributions/Gifts $ $ Credit Union $ Dividends $ $ Stocks $ Net Rental Income $ $ Life Insurance $ Other* $ $ Other Assets $ (Specify Below) Do You Intend to Occupy this Property As Your Permanent Business/Residence? ( )Yes (X) No Present Business Residence (if owned) Mkt. Value $ 1,400,000 Mtg.Bal. $-0- Lender: N/A LIABILITIES (List outstanding obligations, including auto loans, mortgage payments, credit cards, charge accounts, credit union loans, personal loans and all other debts use reverse side if necessary.) MONTHLY UNPAID DATE DUE CREDITOR S NAME PAYMENT BALANCE (Please see attached annual audit fiscal year ended 6/30/14) $ $ $ $ $ $ TOTALS $ $ Last updated April 2015 Page 23
FORM G SCORING CRITERIA CHECKLIST Check all boxes that apply and provide explanations as required. Development of middle-income home ownership opportunities Explain: X Development of affordable housing Explain: The project will be supported by contract rents derived from VASH and project-based vouchers, and the units will be available to low and very low income individuals. Priority placement for disposed residents displaced by government-sponsored projects Explain: X Inclusion of one bedroom unit for non-elderly persons with disabilities Explain: Several one bedroom units are proposed, and VOAC s experience and capacity in providing supportive services for individuals with intellectual disabilities and mental and physical health issues will provide opportunity for inclusion. X Advanced Energy Efficient and environmentally sustainable building principles and practices Explain: VOAC intends to construct the project in conformance with Enterprise Green Communities standards. X Retain and enhance the architectural characteristics of the neighborhood Explain: The townhouses will be designed and constructed to architecturally reflect and with sensitivity to the characteristics of the surrounding neighborhoods. Buyer owns adjacent property located at (Address): X Buyer is a non-profit housing developer in good standing in the state of Maryland. Last updated April 2015 Page 24
Application Checklist You must include the following documentation: Completed and signed application Application Fee (certified or Cashier s checks or money order only) Pre-approval letter evidencing financial commitment for rehab and/or construction loan Financial pro forma Sources and Uses Statement (Form C) Proof of adjacent property ownership Detailed description of development plans for middle-income homeownership opportunities Detailed description of development plans for affordable housing rental opportunities Disclosure of all City owned properties; and Evidence of the ability to provide proposed social, community or public benefit Last updated April 2015 Page 25