Eastside Green Apartments Phase III

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Print Preview - Preliminary

Application
Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans
Project Description
Project Name: Eastside Green Apartments Phase III
Address: Duggins Way
City: Fayetteville County: Cumberland Zip: 28312
Census Tract: 14 Block Group: 2-2029
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: City of Fayetteville

First:Dale Last:
Jurisdiction CEO Name: Title: City Manager
Inman
Jurisdiction Address: 433 Hay Street
Jurisdiction City: Fayetteville Zip: 28301
Jurisdiction Phone: (910)433-1990
Site Latitude: 35.0364
Site Longitude: -78.8464
Project Type: New Construction
Is this project a previously awarded tax credit

development?
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): Eastside Green I & Eastside Green II
Rehab:
Number of residents holding Section 8
vouchers:
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
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Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77?
No
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:

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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: United Developers, Inc.
Address: 2939 Breezewood Avenue Suite 201
City: Fayetteville State: NC Zip: 28303

Contact: First: Murray Last:Duggins Title:Chairman
Telephone: (910)485-6600
Alt Phone: (910)485-6600
Fax: (910)483-4274
Email Address: sbutler@dugginssmith.com

NOTE: Email Address above will be used for communication between NCHFA and Applicant.

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Site Description
Total Site Acreage: 3.85 Total Buildable Acreage: 3.62

If buildable acreage is less than total acreage, please explain:
A very small area of wetlands is located on the site.
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? No

If yes, please describe:
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? No

If no, please explain:
Duggins Way (a private drive) will be extended to serve Phase III.
Is any portion of the site located inside the 100 year floodplain? Yes
If yes:
(a) Describe placement of project buildings in relation to this area:

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Buildings will be placed outside of the floodplain area.
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:

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Site Control
Does the owner have fee simple ownership of the property (site/buildings)?No
If yes provide:
Purchase Date: Purchase Price:
If no:
(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?Yes
(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?No
If yes, specify the relationship:
(c) Enter the current expiration date of the option/contract to purchase: 10/31/2009
(D) Enter Purchase Price: 120,000

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Zoning
Present zoning classification of the site:R6
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
review?No
If yes, describe below:
Are there any existing conditions of environmental significance located on the project site?No
If yes, describe below:

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Ownership Entity
Owner Name: Eastside Green III Associates Limited Partnership

City: Fayetteville State:NC Zip: 28303
Federal Tax ID Number of Ownership Entity: (If assigned)

Note: Do not submit social security numbers for individuals.
Entity Type: Limited Partnership
Entity Status: To Be Formed
Is the applicant requesting that the Agency treat the application as Non-Profit sponsored? No
Is the applicant requesting that the Agency treat the application as CHDO sponsored? No
List all general partners, members,and principals. Specify nonprofit corporate general partners or members.
Click [Add] to add additional partners, members, and principals.
Org: Eastside Green III/Duggins LLC

First Name: Murray Last Name: Duggins Function: Principal
Phone: (910)485-6600 Fax: (910)483-4274
EMail: mod@murrayduggins.com Nonprofit: No

First Name: James Last Name: Smith Function: Principal
Phone: (910)485-6600 Fax: (910)483-4274
EMail: jsmith@dugginssmith.com Nonprofit: No

First Name: Wade Last Name: Duggins Function: Principal
Phone: (910)485-6600 Fax: (910)483-4274
EMail: wade@dugginssmith.com Nonprofit: No
Org: Duggins Family Limited Partnership

First Name: Murray Last Name: Duggins Function: General Partner

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Phone: (910)485-6600 Fax: (910)483-4274
EMail: mod@murrayduggins.com Nonprofit: No

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Unit Mix
The Median Income for Cumberland county is $51,600.
Low Income Units
Total # Monthly Utility Mandatory **Total

Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.
Gdn Apt 2 985 6 2 323 121 0 444
Gdn Apt 2 985 11 0 434 121 0 555
Gdn Apt 2 985 11 0 508 121 0 629
Gdn Apt 3 1249 4 2 368 144 0 512
Gdn Apt 3 1249 4 0 495 144 0 639
Gdn Apt 3 1249 4 0 545 144 0 689
Utilities included in rents: Water/Sewer Electric Gas Other Trash pickup
Employee Units (will add to Low Income Unit total)

Utilities included in rents: Water/Sewer Electric Gas Other
Market Rate Units

Utilities included in rents: Water/Sewer Electric Gas Other
Statistics
All Gross Monthly

Units Units Rental Income
Low Income....... 40 4 17932
Market Rate.......
Totals............... 40 4 17932
Proposed number of residential buildings: 4 Maximum number of stories in buildings: 2
Project Includes:
Separate community building - Sq. Ft. (Floor Area):
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Community space within residential bulding(s) - Sq. Ft. (Floor Area):
Elevators - Number of Elevators:
Square Footage Information
Gross Floor Square Footage: 45,556
Total Net Sq. Ft. (All Heated Areas): 42,568
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: 4
Number of Units Required: 4

Persons with disabilities or homeless populations.
Number of Units: 4
Notes
** 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.

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Targeting
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 %
2 6 targeted at 40 percent of median income affordable to/occupied by
Total Low Income Units: 40
Note: This number should match the total number of low income units in the Unit Mix section.

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Funding Sources
Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service
Bank Loan
RPP Loan 783,175 ✔ 2.00 20 20
Local Gov. Loan - Specify:
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan
Other Loan 1 - Specify:
Tax Exempt Bonds
State Tax Credit(Loan) 729,620 0 30 30 0
State Tax Credit(Direct Refund)
Equity: Federal LIHTC 2,427,205
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees
Owner Investment
Other - Specify:
Total Sources** 3,940,000
* "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))

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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: 15665 15665 15665 15665 15665 15665 15665 15665 15665 15665
Year: 11 12 13 14 15 16 17 18 19 20
Amt: 15665 15665 15665 15665 15665 15665 15665 15665 15665 15665

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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 385,000 385,000
4 Rehabilitation
5 Construction of New Building(s) 2,148,500 2,148,500
6 Accessory Building(s)
7 General Requirements (max 6% lines 2-6) 152,010 152,010
8 Contractor Overhead (max 2% lines 2-7) 53,710 53,710
9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest) 161,130 161,130
10 Construction Contingency (max 5% lines 2-9, Rehabs 10%) 87,011 87,011
11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 74,000 74,000
12 Architect's Fee - Inspection
13 Engineering Costs
SUBTOTAL (lines 1 through 13) 3,061,361
14 Construction Insurance (prorate) 16,086 16,086
15 Construction Loan Orig. Fee (prorate) 0
16 Construction Loan Interest (prorate) 57,000 57,000
17 Construction Loan Credit Enhancement (prorate)
18 Construction Period Taxes (prorate) 16,000 16,000
19 Water, Sewer and Impact Fees 6,000 6,000
20 Survey
21 Property Appraisal 4,500 4,500
22 Environmental Report 2,500 2,500
23 Market Study 4,300 4,300
24 Bond Costs
25 Bond Issuance Costs
26 Placement Fee
27 Permanent Loan Origination Fee 2,900
28 Permanent Loan Credit Enhancement

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29 Title and Recording 1,000
SUBTOTAL (lines 14 through 29) 110,286
30 Real Estate Attorney 45,000 45,000
31 Other Attorney's Fees
32 Tax Credit Application Fees (Preliminary and Full) 2,300
33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 22,628
34 Cost Certification / Accounting Fees 10,500 10,500
35 Tax Opinion
36 Organizational (Partnership)
37 Tax Credit Monitoring Fee 28,000
38 Furnishings and Equipment 6,400 6,400
39 Relocation Expense
40 Developer's Fee 420,000 420,000
41 Additional Contigency (greater of $500/unit or $30,000)
42 Other Basis Expense (specify)
43 Other Basis Expense (specify)
44 Rent-up Expense
45 Other Non-basis Expense (specify)
46 Other Non-basis Expense (specify)
47 Rent up Reserve 12,000
48 Operating Reserve 101,525
49 Other Reserve -ACC Affordability Reserve 0
50 Other Reserve (specify)
51 DEVELOPMENT COST (lines 1-49) 3,820,000 0 3,649,647
52 Less Federally Funded Grant
53 Less Disproportionate Standard
54 Less Nonqualified Nonrecourse Financing
55 Less Historic Tax Credit 0
56 TOTAL ELIGIBLE BASIS 3,649,647 0 3,649,647
57 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%

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58 Basis Before Boost 3,649,647 0 3,649,647
59 Basis Boost of up to 130% 100.00% 100.00%
60 TOTAL QUALIFIED BASIS 3,649,647 0 3,649,647
61 Tax Credit Rate 3.50 9.00
62 Federal Tax Credits (maximum $1,300,000) 328,468 0 328,468
63 Federal Tax Credits Requested (if less than line 62) 0
64 Land Cost 120,000
65 TOTAL REPLACEMENT COST 3,940,000
FEDERAL TAX CREDITS IF AWARDED 328,468
Comments:
Project Development Cost per unit 53,712

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Market Study Information

Please provide a detailed description of the proposed project:
Eastside Green III Apartments will be located on 3.85 acres in eastern Cumberland County adjacent to
Eastside Green Phase II. The site which is off Cedar Creek Road is part of a comprehensive development
plan initiated by the City of Fayetteville in October 2002. That plan is still in effect. A copy of the plan is
enclosed.
Phase I of Eastside Green averages 100% occupancy. Phase II was completed in December 2008 and is in
rent-up. Fourteen move-ins are scheduled and an additional seventeen applications are being processed.
Eastside Green III Apartments will be a family project. The rent structure has been made very affordable
with units targeting those at 40%, 50% and 60% of the median income.
The surrounding area is a mix of residential and commerical property. Shopping, medical services, and a
public transportation stop are located just a few feet from the site. As with any revitalization area, the
surrounding area is a mix of well maintained homes and businesses and those in a state of disrepair.
The addition of Eastside Green III Apartments will be an asset to the neighborhood and a catalyst for
improving the appearance of the existing residential properties.
Construction (check all that apply):
Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches
Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding
Other:
Have you built other tax credit developments that use the same building design as this project?Yes
If yes, please provide name and address:
Eastside Green Apartments I & II
708 Duggins Way
Fayetteville, North Carolina 28312
Blanton Green Apartments I, II, III

1024 Lauren McNeill Loop
Bunce Green Apartments

1430 Distinct Circle
Cleveland Green Apartments

Garner, North Carolina
(under construction)
Crosswinds Apartments I, II
3514 Town Street
Hope Mills, North Carolina 28348
Golfview Apartments
4131 Fescue Court

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Legion Crossing Apartments

3600 Ireland Drive
Longview Apartments
117 Longview Drive
Newberry Green Apartments

411 Monroe Street
Newberry, South Carolina 29108
(under construction)
Palmer Green Apartments I, II

380 W Palmer Avenue
Raeford, North Carolina 28376
Raeford Green Apartments

300 W Palmer Avenue
Raeford, North Carolina 28376
Riverview Green Apartments

507 Riverview Court
Roanoke Rapids, North Carolina 27870
Rosehill West Apartments

1945 James Hamner Way
Southview Green Apartments

3143 Round Grove Place
Southview Villas Apartments

3315 Gibbon Drive
Tokay Green Apartments

1928 United Drive
Wallstreet Green Apartments

970 Wolfpack Court
Sumter, South Carolina 29150
Woodgreen Apartments I, II
200 Bradford Drive
Aberdeen, North Carolina 28315
Site Amenities:
The site will include a playground area, covered picnic area, sitting areas, tot-lot, gazebo and covered patio
with seating.
Phase I and Phase II currently share a community building. Approximately 325 square feet will be added to
the existing building to increase the meeting room and laundry room.
Site layout designed to promote slow and controlled traffic flow.

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Onsite Activities:
Support Service Coordinator on-site.
Landscaping Plans:
Landscaping will be above average and will include an irrigation system. New tree and shrub plantings will
be added to create shaded spaces.
Interior Apartment Amenities:

Apartments will be furnished with a range with hood, disposal, refrigerator (frost free), dishwasher,
storgage, W/D hookups, mini-blinds, pantry, ceiling fans, carpet, vinyl, VCT, and central heat and air. All
bedrooms and living rooms will be equipped with telephone jack and a cable connection. All appliances will
meet Energy Star requirements. All units will be equipped with sprinklers.
Do you plan to submit additional market data (market study, etc.) that you want considered? No
If yes, please make sure to include the additional information in your pre-application packet.

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Applicant's Site Evaluation

Briefly describe your site in each of the following categories:
NEIGHBORHOOD CHARACTERISTICS
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.
The surrounding area is a mix of residential and commercial property. Shopping, medical services, and a
public transportation stop are located just a few feet from the site. As with any revitilization area, the
surrounding area is a mix of well maintained homes and businesses and those in a state of disrepair.
Eastside Green Phase I & II are the only affordable housing complexes in the area.
SURROUNDING LAND USES AND AMENITIES
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. The homes surrounding the site are primarily single family
residences. Eastside Green Phase III will be located adjacent to the Eastside Green Phase II site. The
commercial properties are limited to retail and professional offices. The vacant land is wooded and
undeveloped.
SITE SUITABILITY
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. Cedar Creek Road is a wide four lane road with adequate traffic controls.
The Fayetteville Area System of Transit has a bus stop located in the parking lot of the shopping center
directly in front of the Dollar General Store.
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).
The site is wooded and is zoned for residential developement. A very small wetlands area exists on the site
but does not present any problems with the layout of the buildings. There are no environmental concerns at
this site.
Similarity of scale and aesthetics/architecture between project and surroundings.

The design, layout, and construction of Phase III will be similar to Phase I & II. .
For each applicable neighborhood feature, enter distance from project in miles.

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.1 Grocery Store .9 Community/Senior Center
.1 Mall/Strip Center 3.5 Hospital
2.1 Outdoor Athletic .1 Pharmacy

Fields
.5 Day Care/After .1 Basic Health Care

School
.1 Public Transportation
2.1 Schools
Stop
.2 Convenience Store 2.3 Public Parks
.2 Gas Station 2.2 Library
Other facilities or services:

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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
Analysts.
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).

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Print Preview - Preliminary

City: Fayetteville County: Cumberland Zip: 28312

Census Tract: 14 Block Group: 2-2029

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

Political Jurisdiction: City of Fayetteville

Jurisdiction City: Fayetteville Zip: 28301

Jurisdiction Phone: (910)433-1990

Site Latitude: 35.0364

Site Longitude: -78.8464

Project Type: New Construction

Is this project a previously awarded tax credit

New Construction/Adaptive Reuse:

Does a community revitalization plan exist? Yes

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If yes, provide the subsidy source: and number of units:

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City: Fayetteville State: NC Zip: 28303

Alt Phone: (910)485-6600

Email Address: sbutler@dugginssmith.com

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Total Site Acreage: 3.85 Total Buildable Acreage: 3.62

Storm Sewer Water Sanitary Sewer Electric

Is the demolition of any buildings required or planned? No

Are existing buildings on the site currently occupied? No

(b) Will tenant displacement be temporary?

Is the site directly accessed by an existing, paved, publicly maintained road? No

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Buildings will be placed outside of the floodplain area.

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Purchase Date: Purchase Price:

(D) Enter Purchase Price: 120,000

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Is multifamily use permitted?Yes

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Owner Name: Eastside Green III Associates Limited Partnership

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

Org: Eastside Green III/Duggins LLC

Phone: (910)485-6600 Fax: (910)483-4274

EMail: mod@murrayduggins.com Nonprofit: No

Org: Eastside Green III/Duggins LLC

Phone: (910)485-6600 Fax: (910)483-4274

EMail: jsmith@dugginssmith.com Nonprofit: No

Org: Eastside Green III/Duggins LLC

Phone: (910)485-6600 Fax: (910)483-4274

EMail: wade@dugginssmith.com Nonprofit: No

Org: Duggins Family Limited Partnership

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Phone: (910)485-6600 Fax: (910)483-4274

EMail: mod@murrayduggins.com Nonprofit: No

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Low Income Units

Total # Monthly Utility Mandatory **Total

Gdn Apt 2 985 6 2 323 121 0 444

Gdn Apt 2 985 11 0 434 121 0 555

Gdn Apt 2 985 11 0 508 121 0 629

Gdn Apt 3 1249 4 2 368 144 0 512

Gdn Apt 3 1249 4 0 495 144 0 639

Gdn Apt 3 1249 4 0 545 144 0 689

Utilities included in rents: Water/Sewer Electric Gas Other Trash pickup

Employee Units (will add to Low Income Unit total)

Total # Monthly Utility Mandatory **Total

Utilities included in rents: Water/Sewer Electric Gas Other