state qfcalifornia--office of administrative · pdf filecontracted to market the bonds...

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STATE QFCALIFORNIA--OFFICE OF ADMINISTRATIVE LAW ~ ,_~.. '~ - ~. ' -~ ~ - ~ " ~ ~ ` T For use by Secretary of State only

NOTICE PUBLICATION/REGUL~~Ib1~15'~,Ll~.tt~11~~1,~f~1 ~5~~ ~structao~s on

K@Vh'fSO~

STD, 400(REV.Ot-2073) ~.~;;;~,j s„ _ .. 'a r _ _ -.. ._ .. .~ _~1

OAL FILE NOTICE FILE NUMBER REGULATORY ACTION NUMBER EMERGEN+~CY NUMyBER

NUMBERS. Z- ~ ~ 3. 7 ~ 1 ~ G 1~ O

For use by Office of Administrative Law (OAL) only

~~~~ ~'~~~ ~ ~ t~ F~

-~

l_

NOTICE REGULATIONS

AGENCY WITH RU~EMAKING AUTHORITY - AGENCY FILE NUMBER (If any)

CA Debt Limit Allocation Committee

A. PUBLICATION OF NOTICE (Complete for publication in Notice Register)

1. SUBJECT OF NOTICE TITLES) FIRST SECTION AFFECTED 2. REQUESTED PUBLICATION DATE

3. NOTICE TYPE 4. AGENCY CONTACT PERSON TELEPHONE NUMBER FAX NUMBER {Optionaq

Notice re Proposed

Regulatory Rction ❑Other

OAL USE ACTION ON PROPOSED NOTICE NOTICE REGISTER NUMBER PUBLICATION DATE

.......ONLY.... ❑

APProved as ❑ Approved as ~ Disapproved/

Submitted Modified Withdrawn

B. SUBM05SION OF REGULATIONS (Comple#e when submitting regulations)

1a. SUBJECT OF REGULATIONS) tb. ALL PREVIOUS RELATED OAS REGUlAT4RY ACTION NUMBERS)

Request Process for December 2017

2. SPECIFY CALIFORNIA CODE OF.REGULATIONS TITLES) AND SECTIONtS) Including title 26, if toxin related)

SEGTION(S) AFFECTED aooPr

(List ail section n~mber(s) 5259

individually. AttOCII AMEND

~e~elitinna) ehnn+ if naotlnrl 1 rJ2EE tatt~C''leCi.........

TITIE(S) REPEAL

4 None.

3. TYPE OF FILING

Regular Rulemaking (Gov. ~ Certificate of Compliance: The agency officer named ❑Emergency Readopt (Gov. ~ Changes Without RegulatoryCode §t 1346) below certifies that this agency complied with the Code, §11346.1(h)) Effect (Cal. Code Regs., title

❑ Resubmittal of disapproved or provisions of Gov, Code 4§11346.2-113473 either 1, §100)

withdrawn nonemergency before the emergency regulation was adopted or

filing (Gov. Code §§i 13443, within the time period required by statute. ❑ File &Print ~ Print Only

11349.4}

o Emergency (Gov. Code, ~ Resubmittal of disapproved or withdrawn ~ Other {Specify) _

§17346.1{b)) emergency filing (Gov. Code, §11346.1)

4. ALL BEGINNING AND ENDING DATES OF AVAILABILITY OF MODIFIED REGULATIONS ANDIOR MATERIAL ADDED TO THE RULEMAKING FILE (Cal. Code Regs. title i, §44 and Gov. Code §17347,1)

5. EFFEC?IVE DATE OF CHANGES (Gov. Code, §§ t 1343.4,17 346.7 (d); Cal. Code Regs., title i, 4100 )

Effective January 1, April t, July 1, or X Effective on filing with §100 Changes Without Effective

October t (Gov. Code §t 1343A(ap ~ Secretary of State ~ Regulatory Effect ~ other (Specify)

6. CHECK IF THESE REGULATIONS REQUIRE NOTICE T0, OR REVIEW, CONSULTATION, APPROVAL OR CONCURRENCE BY, ANOTHER AGENCY OR ENTITY

Department of Finance (Form STD, 399) (SAM §6660) ~ Fair Political Practices Commission ~ State Fire Marshal

Other (Specify}

certify that the attached copy of the regulation (s) is a true and correct copy

of the regulations) identified on this form, that the information specified on this form

is true and correct, and that 1 am the head of the agency taking this action,

or a designee of the head of the agency, and am authorized to make this certification.

'LIRE OF AGENCY HEAD OR SIGNEE DATE'

~~~LT~ ~~

~ [email protected]

For use by Office of Administrative Law (OAL) only

Laura A. Whittall-Scherfee~, Executive Director

.Attachment to Foxm 400List of sections (B.2.)

Sections Affected

ADOPT5259

AMEND5000, 5033, 5035, 5037, 5054, 5060, 5064, 5101, 5102, 5120, 5144, 5170, 5190, 5191, 5193, 5194,

5212, 5220, 5230, 5233, 5240, 5250, 5255, 5258, and 5540

REPEALNone

CDLAC Emergency Regula[io~sNov2mber 21, 2017

PROPOSEDCALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE REGULATIONS

CFs~~afer 1. ~S~c~~r~i ~rc~~;;s6~rs

~c~=asn fd~af;. }3~~¢;aa~'s~:~s, In addition to the definitions set forth in Government Code section8869.82 and unless otherwise required by the context, the following terms as used in thisdivision are defined as follows

"Placement Agent or Unc~erwritee Statement" means the statement. provided by the firmcontracted to market the Bonds proposed in the Application that includes a brief paragraph onthe firm's history and principals, a summary of the firm's non_P~irrdn~ initial underwriting review,an overview of proposed issuance structure including anticipated debt service coverage ratio,and a statement certifying that the proposed transaction has been initially underwritten andmeets the firm's standards for participation.

Note: Authority cited: Section 8869.94, Government Code. Reference: Section 8869.84(c);Government Code.

~~~~zaae~ St?3~- ~5asaia~aar€~ A~s~a4ic~tas~~ F~~~~€er~a~~n~~. (a) Applications for an Allocation ofthe State Ceiling may be submitted to the Committee at its offices in Sacramento, California.

(C) In the event that a fully executed copy of an adopted TEFRA Resolution cannot beprovided within the timeframe set forth in subdivision (b)(5) of this section, the Applicant shallprovide:1. within the timeframe set forth in subdivision_(b)(5) of this section,_written certification ofthe date, time, location, and outcome of the public hearing, the approval of the issuance ofBonds by the applicable elected representative, and that the actions compry with theprovisions of 26 U.S.C. section 1470; and2. no less than twenty-four. (24) hours prior to the scheduled commencement of theCommittee meeting at which the project is seeking an allocation, a ~a~v_cf tfi~e fully executedec~y-ai-tF~e adopted TEFRA Resolution. If the Applicant is a JPA, the jurisdiction issuing theTEFRA Resolution must be a member of the Applicant at the at the time the Resolution isadopted or must have approved becoming a member of the Applicant at or prior to the timethe Resolution is adopted.

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c),8869.84(e), 8869.85(a), 5869.85(b) and 8869.90, Government Code.

asst"ce~~ a~93a. ~~~~a €ray. y €t~enesse~s~nc~~t6~ns, {a) At least twenty-five (25) calendar daysprior to any meeting at which the Committee will award Allocations, the Executive Director willpost a preliminary list of Applicants for which the Executive Director expects to recommend anAllocation (and the amount pf those Allocations). Dt~iny comneti~{ve rounds 9hv lisp uJil! ~~ inranked order. The list will be posted on the Committee's website as provided in section 5140.(b) For the Qualified Residential Rental Program, the list will identify the points earned by eachApplicant in all categories for which points are awarded, including the Applicants aggregatetotal points..

Note: Authority cited: Section 8869.94, Government Code. Reference: Section 8869.84(c),Government Code.

1


~ecti~s~ ~s337. F€s~~,4 ~e~~rvzmc~rae§~~ic~s~s. (a) At least ten (10) calendar days before theCommittee meeting for which Allocations will be awarded, the final list of Applicants for whichAllocations will be recommended (and the amounts of those Allocations) its-~at~k willbe posted. Duriri~, con~n~itive rounds tiF Ii~P will be inra~7k~d c,rd~_, This list will reflectchanges, if any, in ranking resulting from the appeals as provided in section 5036. The list.shall be posted on the Committee's website as provided in section 5140.

Note: Authority cited: Section 8869.94, Government Code. Reference: Section 8869.84(c),Government Code..

~e~t8~n 5i~5?. ~tEEc~ ~~:~s. Each Applicaht shall submit a filing fee in an amount equal to theproduct of the amount of Allocation actually used to issue Bonds, or Mortgage CreditCertificates multiplied by .00035. The payment of the fee shall be in two installments asfollows(a) Initial filing fee. A check in the amount of $1,200 payable to the California Debt LimitAllocation Committee shall accompany the filing of an Application to cover the Committee'scosts associated with reviewing Applications. This portion of the filing fee is not refundableunder any circumstances but shall be credited against the total filing fee..

Note: Authority cited: Section 8869.94, Government Code. Reference: Section 8869.84(c)and 8869.90, Government Code.

See~i~~s ~0~~. ~9€nisssssm ~tegcsis•~rrs~nts. (a) Applicants, other than Applicants for aMortgage Credit Certificate Program, shall provide evidence of a play to privately place orpublicly sell the proposed Bonds with or without Credit Enhancement for an amount no lessthan the amount requested in the Application, Bond sale structures that include a credit ratingshall be subject to the following:(1) Governmental Bond issue~ci with full recourse to, or guaranteed by a general obligation ofa governmental entity with taxing authority or Qualified Private Activity Bonds with recourse tothe corporate parent entity of the Project Sponsor via a corporate guarantee must have aninvestment grade credit rating for the Project or the source of the aforementioned guarantee.....for the Project.

Note: Authority cited: Section 8869.94, Government Code. Reference: Section. 8869.84(c),8869.85(a), and 8869.85(b), Government Code,

Sec4ics~a 5~~4. Une~hanced Bond Sales with a BBB Category Credit Rating. (a) Applicationsfor Bonds to be issued with an unenha~ced credit rating in the "BBB" category or equivalent asrated by a Nationally Recognized Statistical Rating Organization will be deemed to havesatisfied the minimum Bond sale requirements required in section 5060 if the following isprovided:(i) Placement Agent Statement.(2) Certifications of no current Bond Defaults by the Issuer, guarantor (if any) and the ProjectSponsor (if any)..(3) Brief summary of the marketing plan.

Note: Authority cited: Section 8869.94, Government Code. Reference: Section 8869.84(c),8869.85(a), and 8869.85(b), Government Code.

Sect'son SY01. ~xfi~nsicarrs tca ~xp's~~tior~ 33~ies. Excluding Recovery Zone Facility Bonds,Recovery Zone Economic Development Bonds, and Mortgage Credit Certificates, fir Allocationsawarded during an Open Application Process, the Executive Director may grant an additionalextensions of up to ninety (90) days.

2

PROPOSED

CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE REGULATIONS

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c),8869.84(e), 8869.89, Government Code.

~e~fi~ar~ 53.tD2. Y~~cerver~ acne fond ~cters~'s€~~s, The Committee may extend theexpiration date for the issuance of Recovery Zone Facility Bonds or Recovery Zone EconomicDevelopment Bonds ks-b~~ an acJcltional thirty (30) days. The Committee may delegate thisauthority to the Executive Director.

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c)and 8869.84(e), Government Code.

s~c~i+sr+ 5124. '~r~aa~f~r F2~~gu's~~e~ats. (a) Except for the reversion of unused Allocationpursuant to section 5106, Allocations are not transferable unless expressly authorized inwriting by the Committee. The Committee may permit transfers of Allocation as fellcr4s:;~The Committee r~ay_pern7it transfers of dr~~~e+~-carry-forward Allocations to the highestscoring Application on a waiting list or, if a waiting list does not exist, the highest scoringProject in queue in a current Allocation Round. {Z~ Thy C9miniFtee mry perrnii [ran=fers ~,Ftlilnratinn hc,F~aro~>n Ar. r,if.-~..t~ f..,-fh., . -..,,~.~ n...,.-..,.x, r.. ~t.:~ ......w...... ,... ..._ __... ~__~.__".. .__.. _,.

a~prr~val oP the transfer(b) Where the Applicant is administering a Single Family Housing Program for itself and otherparticipating jurisdictions, the use of Allocation within the participating jurisdictions listed inthe Committee Resolution is not considered a transfer. For purposes of this subdivision,participating jurisdictions means those entities that have provided written assignment of their.rights to secure an Allocation to the Applicant..The Appiica~t shall submit copies of theassignments with the Application.

Note: Authority cited: Section 8869.94, Government Code. Reference: Section 8869.85(c),8869.85(d}, and 8869.86(a)(3), Government Code.

~~cYicn 5 ~~~d. ~striu~~ A3sp6ic~rk d~ubPic ~~~:erits .~aad flea-Cs€~€rra~ ~orro~s;ia~sce ~~fi~£~r~i~sc~tian. (a) All Projects that receive an Allocation and are within an existing regulatoryperiod and/or compliance period shall be monitored for compliance with the applicable termsand conditions of the Committee Resolution by the Applicant (Issuer) and CDLAC. ~b~ The r~e~t

cnac are at ieasc as r~ncziv~ a~"~no_s~~, in the riginai arreemPpt. The self-certification must besubmitted by the Applicant to CDLAC no later than March 1 of each year (or at such other timeas requested by the Committee). The requirement shall be enforceable by the Committeethrough an action for specific performance or other available remedy affecting the Applicantincluding but not limited to disqualification from the program.

(Y) For Projects receiving an Allocation prior to December 31, 2016, the Applicant shallcomplete and submit the Annual Applicant Public Benefits and On-going ComplianceSelf Certification, via the online compliance certification system annually for the longerof the period thebonds remain outstanding or the period of restriction for QRRPprojects outlined in Section 5192.

(2) For Projects receiving allocation after December 31, 2016, the Applicant shall completeand submit the Annual Applicant Public Benefits and On-going Compliance SelfCertification via the online compliance certification system every year until thecompletion of the project and then if the project is subject to a Regulatory Periodand/or Compliance Period every three years thereafter or sooner upon a termination ofthe Regulatory Period and/or Compliance Period.

3


(d) For all QRRP projects receiving allocation after December 31, 2016, Sponsors requestingan allocation of bonds absent the receipt of a TCAC reservation will be identified at the time ofapplication and will have the following compliance options which will be represented in theCommittee Resolution:

(i) Applicants that can demonstrate to the Executive Director's satisfaction experienceand current capacity to conduct on-site physical and file inspections through their CompliancePolicies will be required to conduct the 20% review of the Federally Bond-Restricted units fileson-site and pertorm a site inspection consistent with their Bond Compliance Policy every 3years after the Qualified Project Period has commenced.

{2) Applicants that cannot demonstrate to the Executive Director's satisfactioncapacity to conduct on-site physical and file inspections through their Compliance Policies willbe required to enter into an agreement with a private third party compliance firm, approvedby CDLAC, who must conduct the 20% review of Federally Bond-Restricted units files on-siteand pertorm a site inspection consistent with their current policies and procedures every 3years after the Qualified Project Period has commenced.

{3) A Sponsor can enter into contract with CD~AC or a designee to monitor theFederally Bond-Restricted units for consistency with the bond. regulatory agreement and theCommittee Resolution. The charge for this service will be equivalent to the compliance feecharged by TCAC at the time the project submits their application to CD~AC.

{4) The election of the option will be included in the Committee Resolution.

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c),8869.85(a), 8869.85(b) and 8869.86(c), Government Code..

~Sec~"so€~ S~~€3. ~3efisei~iasr€s. In addition to the definitions set forth in Government Codesection 8869.82 and uNess otherwise required by the context, the following terms as used inthis chapter are defined as follows:

"~ecidl Meeds"~are defir~etl by 7~R~.Repulatiorr Secti~r~ ~03z6~^,Z(41=

"Supplemental Allocation Request Letter" means the written request fr~~n rl~e Ao[~Iicant: forSupplemental Allocation for Projects having been awarded Allocation within the last thirty six(36) moths that may be submikted in lieu of a completegpplication. The letter must besigned.~the A~ licart and include information about the Project including the date andamount of prior Allocation, the current status of the Project, revised sources and uses offunds, justification for the request for additional Allocation, and any additional information theCommittee or Executive Director deems necessary.

"~4e-~'=r~e~ris ~k~-tai=e-tneltr~e~i+~-EFi.~.A Fisettur~~-f re--a-t~u~r€4e~s ttrss+c~et3t~1-f~e,tt~'~ P~c~jee~~E~<+t~e,tiz~s-~E;e ~ra~ese~-rr~rt~e~-af ~i~s~-ep~;a ge— ~~t7,~=p-~s4ea~3r~a~t6-~~~i~rc-~~;~-~~E~fic>:i-ea~~-e~ e~~w+-e+ta~sc-~~s~:+~s-~?ee~rt''~i~ c ~3~.~-Ee,~ Ee+~xt~ri~; e~~~r~I~-s eerR~e ems:

•,~~ ~=nt2c~rs-t~<-caaEf{i-is~elt~#c~# i+~-ts~--F ra2at~~i;seer-a-~~a3+f-~{~~-f;~,€c'iu~,'ta!-~^si~;-f~€75~e~~i~i~ c~riz~tktc-~s:rpm,ed-Eot~~I-e=al!-~rtr+~3~-a,'F-rte ~i~~-re;~-t:r~trtE~~ t;~~f~t~er-a;~~~e:eczr~~;<u-c~rtr; ~~~~rc#i°<#-fe~ke~~+selaa+e~.~-e~-or-#~cS~da-~-~Fo-fl; -rt.1 r-~ ~-~ ..t~~`s3;~v.~e-~3~s o~R:i-~-e r-:~~ F~

t2~ist; ~C..,~ ~ .:c~ti*?-~iy-~I?c~-c3tti~e~-i+~~-~~ P~3pF.eE

Note: Authority cited: Section 8869.94, Government Code. Reference: Section 8869.84(c),Government Code.

~eetion ~1~€3. ~i~~din~~, In its Application, the Project Sponsor must demonstrate itsreadiness to use the Allocation as set forth in this section.(a) Demonstrated site control. The Applicant shall provide evidence that the Project site is atthe time of Application submission within the control of the Applicant or Project Sponsor. A

0


current title report, or, for projects that will be located on Native American Trust Lands, a LandTitle Status Report from the Bureau of Indian Affairs or an attorney's opinion regarding chainof title and current title status, dated no more than ninety (90) days prior to Applicationdeadline as provided in section 5030, shall be submitted with ali applications for the purposesof this. requirement.

(c) Proiect Sponsor Ue_vvlaper end Fro(~erty P~1a~a~7~nt Pnf~rmatio~~~!ic~ant~ shallrovidn information pertaining tea the f.~I~~rtin~Prfliect ~n~ities:

Prciec_$~on5or and_Dev2ioQerpa }ner ~~~ri~i~i~als ~~,d *he~Ficent~e~ of ourr~erl~i~r of e Bch;the Pro~~ f~1~r~aQemcr_t Com~~n~and ! h ~x~~yc ~cA aF ti° Pra~_c._t_e~orf_sar,__C~ v lr,~~rend Proper~_Mana~er.

the financi~I v,~bility of ti~e~rojec_~r the r rn~ct S~ansor ~~N~1 ~~velor~~ 7 h~ _riisclosure~shoulc! be limned to ac~iyr~s or inlest~~tions in which th_~~~~ie~nt ~r in~~~alicant s~aar~nt{subsidiary ar af`il,iat~ involve{! in tine mEznat_em~n~o;sar~tion~cr ucvelo~ment of une_~rej_cctfigs been named a~rty; and~2 Disclose anv I~aal pr recaulat~i~v action or in~~~iaatton invofvinn fra~a~ or corru~iion. garhealth and safety v~FrerP here are ~Il~~tions o~ s~ricu~s harm to emr~lovses. th plic. or thnenvironment, The Tiscics~~ra stic~~!!~! tie limited~~c~ runs r.~r inuv tio~~f~n ~r~ c~thich the Pr?~kSponsor and Qevelo~ r Qr [he Pra~ect S~~cnsnr's ~r~d t~ ~ie1c?per s_curr~ n~boUrd._mzmrerexce t fQr volunteer board members of non"crofrt en~itie~ ~a~trl~~lim~t~ti I~~±bility

.corporation membe_r,_?nior officer, or s~i~iar inana ,emen~eraonn~i his been named adef r~dant within CI e ~=r tan

-_.._—e i n =, ~'g~r~.

description must contain at minirni~im tha num!?~~o~y~cr~s of khe site~~~fe~crietian o tl~esurrounding neighborhood: the [~r etFd ~0~+21~tion for the oroi~ct the ex~a ,cad s~~rt ar~dcomn{etian dates of construction~ph~=+cal features of th,_.nro~e~y ~nir ~~~;i~;~,ratioii unit~men~ti=s;_scoge of +Nork~ end any_unique ~ aturF4_nf the g_rg~?cC,(i~ De .ailed Unit i+ffcrdat~ility Tziform<~tinn. Yn~iic~nts sh~ll._~ravidc =brn~kdo n±n n; pro'ect unittykes size. number of units c~r6pQs~d tur,a~t-paid re~E_~m~nthl~util;tu =~I'~~nces if any _su sidi~.s_(if ~ny~~_unit~~ercan~aae of Area hA~~ii~$? Tncpr-~~ /f1t~I IavtI b ~d on monthGross Rent.

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c),8869.85(a), and 8869.85(b), Government Code.

~~etion 5331. ~nes~m~ ~a~d dent ~~~ve-3c~iear~se All Qualified Residential Rental Projectsmust meet the following minimum income and rent restrictions, which will be included in theCommittee Resolution.

;cl Ut_ility Allowance evidence Al~rotecCs subiect to tie use or Gass Rent ae, defiiirod bySection 5170 shyll provicla evidence in one of the fallov~ina farms:f 1) A letter from the ioca~sab ~c hausina auth~ri~v that incF{ades a c~Er er nt utili%y_~Ilew~nceschedule. certifies thatthe~0~7osed Project is loca ed wi in its ii~i~~ic~ion ~ncl itemizeswhich components of the utility allowance scheliul~~~s tq_ th~.~ ProjFct_Projects that_~resubiect to ~ Lleparrcmenk ar"_Nousin~ end Urb. n D~sveSepm_nt~HUD~Section H N~us n1Assistance Pa menu Program do not renuirn a housin ~uthonty c..rtific~tian end ma~~ r£_Iy

5


sole) on the utijjt~ all~wa~ce included ire ~ H'.JD rent schg~~fule rvvis'~d tha scned~!le~cifically idenYiPi~W the~nie of t~F~ Prt~je~t.

Tf a Pro~ert is t~ be substantiall~r_etrn:~t+ c~ to nnc r~~~c~n ,eFvatio:i or :vili ~7e_n~wlyccnstr'tacte~J with .<:uostantiai erfer~„~c~nsc~r~ati~~ t'_~} r~p~licrir[ may s~arnit rcvis~tl i.,tilitu

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c),8869.85(a) and 8869.85(b), Government Code.

~~Ct~~#s 519. ~~~at Service ~ov~~°ag~ ~ta~i~. tat For Qualified Residential Rental Projects,a minimum debt service coverageratio.,(the ratio of the net operating income from the Projectdivided by the required debt service on the debt associated with the Project) shall be no lessthan 1.15 except for FHA/HUD projects, RHS projects or projects financed by the CaliforniaHousing Fiance Agency. jb? At mi~_imum,_A Ircants sh~li ~ruv_iiie,_t'r~~ ~alio~~rir_g_„nnu~liz?pro-firma fi ures

reel estate texes~totai r~serves~ annual r;ommercial o~er~ak!n~v~ns~zs ii ~nt~lic~hlP~and_commercial 4nace expenses of a lic~biej_

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c),8869.85(a), and 8869.85(b), Government Code.

•c;is~n ~3~~s. 6~~o~€:et ~asssre~~ ~~~ ~r~~ S~ra$~~~ ~s~s~:~. ~~~ AP,.~c~,tiflns chali intludgaPjtemized br-akdawi~ of the com~~lete souec~s,of cons~uct~~n nn~rcir~cy_irrclGcifna tax-exempt bond proce~ds~tax~ble_debtpror~eds,_de_v_eloper ec_7u_i~low_ Sncoin~ Housing l=axCredit_~THTC,1 egiii~~ ~ir~ct and indirect pu blic fun~g and sell r carrybn~k notes; and bAnpiic~tions shall include ~n iYerniz~d br-~Lakdo~~,~n of t~~~ oeemanent sources ar7d uses budnetand (c) All non-assumed liens Lo be paid ofF~at closing shall seta =v listed and trilApplications shall incf~ade an itemized breakdovdn of hard mn5tri~ctiarr costs. HardConstruction/Rehabilitation cosCs sl~al consist ~f~truc~re costs on~v' end Applicationswith Projects where total project costs exceed $500,000 per unit must include an explanationfor why costs are beyond these levels and demonstrate that such costs are justified.Applications with high project costs may be presented to the Committee individually from thebalance of recommended Projects.


validates the revised uti it aiioaa~~ree~ moused on tfte n;c~n~e~luse of ?n~rav c~ns2rvationmaterials, or~8) A current utility allq~vance c~tirn~te_ean->istivr;t v~ith_2_6_CF«,~.ry~~i~r~ 1_~2=10_Thc R~„ lica~it


s~cti€zes 5~1~. C~pd~a~ #~eec€~ kss~ss~n~a~t; The Applicant shall submit a Capital NeedsAssessment +n~itfi recrnrt and inspecti~m dat=s ~~;f within 180 days prior to theApplication deadline that details the condition and remaining useful life of the building's majorstructural components, all necessary work to be undertaken and its associated costs, as wellas the nature of the work, and distinguishing between immediate and long term repairs. ~€r.~;-c:,~-Eu~4^r~-Ft%3--~t~a~k=~~-;sas~e~;-sf~+~~-ea;~s~=~ttas+E~;:-~*~c, Cr;~E~~t?ia~`ry=~~~-As~~ssa:etrE-is-req~rr~~ The Capetal Needs Assessment shall also include afikeen (15) year reserve study, indicating anticipated dates and costs of future replacementsof all major building components that are not being replaced immediately and the reserveContributions needed to fund those replacements. The Capital Needs Assessment shall be

.: prepared by the Project's architect, as long as the architect has no identity of interest with theProject Sponsor or other member of the development team; or by a qualified independentthird party who has no identity of interest with any of the members of the development team.The Capital Needs Assessment is not required if the Project, within the immediately precedingthree {3) years, received an Allocation and this requirement was satisfied in the originalApplication. Fs~-e~is~Ff~-Eaz-er~~t~,s~jec~1~~;+=~-~~-a-f~~-~c=sc-r~~*ie~~~-~~?{ts-~~~t~_, r-ri fe,'-r~ei~3~'t;i~~ates=-(tom-,-~c;~~~H~rj~?~ -t-~`#-~e~3n;ti-~; ;;,-=Wyse. -~ r~Pre-C~aN-~± €r~~LL-~-reF~~sli~Ei~r~ ~r~~~- :-dept- ~-zt~^.:-;tee=-rrr~iie c~s~- ~~f-~sv~-

~~ai--x~#n~-t~#r~-~~-!?~~x£~ +~:e-Eli; --r~a~+rv=s~m=~€4-~-h=-%~~emErrs f-f+Ete-si;E1t~Rlpie+rte?-Gl~a~et-3-,-~ee~tia::-~{3s~~{~s}~i-}-Ord-~~ ~.`#s ~;?f~-t~4 ;rye-~+~:~-#e,s--!er-;3aii~{~j-v-~:ikr~EFC-~tG-~c~t;; s - eec~e~+t-tee ~xer~~~?-€~~s~ -~I~ Q=.~ti~~E ~~

Note: Authority.cited:..Section.8869.94,.Government.Code....Reference;Sections8869.84(c), - -8869.85(a), and 8869.85(b), Government Code.

S~:cti~r~ s2?C3. €~~~~d&atz~r~r ~~aasgs€~~nce. (a) All QRRP allocation recipients are required toexecute a Bond Regulatory Agreement (the "Regulatory Agreement'), as a condition to theCommittee's making an allocation, which will be recorded against the property for which theallocation is used, and will reflect all commitments outlined in exhibit A of the Committee'sresolution.

{d) Where a Project is receiving renewable project-based rental assistance or operatingsubsidy:(1) the Sponsor shall in good faith apply for. and accept all available renewals; and(2) if theproject-based rental. assistance or operating subsidy is terminated through no faultof the owner, the property owner shall immediately notify CDLAC in writing and shall makeevery effort to find aitemative subsidies or financing structures that would maintain thedeeper income targeting contained in the CDLAC resolution. Upon documenting to CDLACssatisfaction unsuccessful efforts to identify and obtain alternative resources, the owner mayincrease rents and .income targeting for rent restricted units above the levels allowed by theCDLAC resolution up to the federally and state-permitted maximums. Rents shall be raisedonly to the extent required for financial feasibility, as`determined by CDLAC. Where possible,remedies shall include skewing rents higher on portions of the project in order to preserveaffordability for. units regulated by CD~AC at extremely low income targeting. Any necessaryrent increases shall be phased in as gradualty as possible,. consistent with maintaining theprojects financial feasibility. If housing sSpecial r~Needs populations, the property owner shallattempt to minimize disruption to existing households, and transition to non-sSpecial +Needshouseholds only as necessary and upon vacancy wheneverpossible.


~ec~icrre 623. ~va~uatie~~ Cr¢t~ria.(a) The following criteria will be used to evaluate and rank all Applications whether for MixedIncome Projects, Rural Projects or other Qualified Residential Rental Projects. Any pointsawarded in this section shall be rounded to the nearest one-tenth decimal place unless

~1


otherwise stated in this section. Each of the items in this section shall be memorialized in theCommittee Resolution.

(d) Gross Rents (S points).(1) Five (5) points will be awarded to Projects that are not subject eo the use of~ross R.en~~.but voluntarily do so val~sek~-t~ r6+a;s-€t~r~ts-to define Restricted. Rental Units as evidencedby one of the fopowing:(A) A letter from the local public housing authority that includes a current utility allowanceschedule, certifies that the proposed Project is located within its jurisdiction and itemizeswhich components of the utility allowance schedule applies to the Project. Projects that aresubject to a Department of Housing and Urban Development (HUD) Section 8 HousingAssistance Payments Program do not require a housing authority certification and may relysolely on the utility allowance included in a HUD rent schedule provided the schedulespecifically identifies the name of the Project.(B) If a Project is to be substantially retrofitted for energy conservation or will be newlyconstructed with substantial energy conservation, the Applicant may submit revised utilityallowances based on the projected reduction in utility costs after construction or retrofit. Therevised utility allowances shall be validated by either of the following:1. A letter from the public utility or housing authority having jurisdiction over the Project thatvalidates the revised utility allowances based on the proposed use of energy conservation.materials, or2. A current utility allowance estimate consistent with 26 CFR section..1.42-10. The Applicantmust indicate which components of the utility allowance schedule apply to the Project. Forbuildings that are using an energy consumpkion model utility allowance estimate, the estimateshall be calculated using the most recent version of the California Utility Allowance CalcWator(CUAC) developed. by the California Energy Commissioni~nd in acco~danc: ;t:ith the California-r-,~ r.~.f ~t nil,.,--.s..,.,, r.....,...;:«,,,. ~ .. ....:.............. __,...: _...,..__,._ ~_... .:... _~~_ .:.. _...,

6aH€€a+~~r e~-iaEae:a-e`-fir ; Err.-r Er-„t~~er~a~tE~-~~m L;-E~+~+€ic~3-E~:ete~y-Ftrtalys~-¢C-[~}

#d~~ts+t~t~-f~'~~-ry+-o9+aim-~s#Fiat-c~(#se~~er,mart-area-e4ee#rteallea~. --(e) Exceeding the Minimum Rent Restrictions (10 points maximum). One (1) point will beawarded for each percentage point the highest rental rate of each Restricted Rental Unit type(defined by bedroom count) is more thap twenty percent (20%) below the average adjustedrental rates of comparable units as demonstrated by each applicable. Rent ComparabilityMatrix.

(k) Sustainable Methods (10 points maximum).(1) Points will be awarded provided that the Project Sponsor and the licensed Project architecteach submit a certification indicating which items, commencing with subdivision (k)(3) of thissection, will be included in the Project's design and any relevant specifications. Certificationby the Pro9ect archi act shall (~e defiped by Section 5536,?6 of the s'ne~s ~nd__Professi n=Code.(2) The Project Sponsor shall submit a certification at Project completion from the Project's.licensed architect that the design elements that formed the basis for any award of pointspursuant to subdivision {k) have been met or exceeded. C~i~ic_~tia;~~~e r~ect 1rcRitect_shat be efin~~uection 55 6.26 of the Business a,nd Prcfessians ode. A Project Sponsormay be subject to monitoring for compliance with this certification. A Project Sponsorreceiving points under subdivision (k) who fails to meet this requirement will be subject tonegative points under subdivision {n) of this section.

(6) New Construction and Adaptive Reuse Projects: Up to five (5) points will be awarded toprojects that commit to developing the project in accordance with the California Tax CreditAllocation Committee's minimum requirements for energy efficient programs, Title 4, Division17, Chapter 1, Section 10325. (c)(b5)(A).


(7) New Construction and Adaptive Reuse Projects: Points shall be awarded according to theCalifornia Tax Credit Allocation Committee's minimum requirements for energy efficiencyprograms, Title 4,'Division 17, Chapter 1, Section 10325 (c)( s5)(B).(8) Rehabilitation Projects: Points are awarded based on the energy efficiency criteriadescribed for Rehabilitation Projects in The California Tax Credit Allocation Committeeregulations, Title 4, Division 17, Chapter 1, Section 10325(c)(-S)(C), (D) and (E).(9) Compliance and Verification. The form of evidence shall follow that described in Title 4,Division 17, Chapter 1, Section 10325(c)(-nS)(G). Projects that receive an award of lowincome housing tax credits (LIHTC) shall submit evidence of compliance to TCAC with thePlaced in Service Application. Projects that receive a Qualified Residential Rental Bondallocation, and do not receive a LIHTC award, shall submit Evidence of Compliance to CDLAC.

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c),8869.85(a) and 8869.85(b), Government Code

~ecti«sr ~~3~. ~itc€~a~€an ~.irsvit~. (a) Limit CDLAC bond allocation on a per unit basis(adjusted by the number of bedrooms) in the Generel and Rural Multifamily Pools as follows:

Studio and SRO: $402,500One bedroom: $420,000Two-bedroom: $447,500Three-bedroom: $492,500Four or more bedroom: $517,500

Note: Authority cited; Section 8869:94, Government Code. Reference: Sections 8869:84(c),8869.85(a) and 8869.85(b), Government Code..

~rtic~~ ~. ~u~agaleeagent~i ~t~c~c~~irrza

Sect'€~n a2~&6. ~up~st~eraEa# ~t6~rc~ticaa~ ~a-~ves~. (a) Requests for SupplementalAllocations may be submitted el€~ctronica~_during any Allocation Round. Staff shall revieweach request forSupplemental Allocation and make a recommendation to the Committeeregarding any possible award of additional Allocation. Awards of Supplemental Allocationsshall be memorialized in a Committee Resolution. Notwithstanding section 5241, allrequirements imposed pn the initial Allocation, including, but not limited to, expiration ofAllocation, Bond issuance deadlines, extensions, transfers of Allocation, carry-forwardelections and reporting will be equally applicable to Supplemental Allocations.(b) Requests for Supplemental Allocation submitted during Allocation Rounds conducted underan Open Application Process may be made with a Supplemental Allocation Request Letter ifthe Project has received. Allocation within the past thirty six (36) months. SupplementalAllocation Request Letters must be suumitxed by the Aor,;icant and accompanied with thefollowing requirements:(1) Posting of a performance deposit pursuant to section 5050.(2) Payment of a filing fee pursuant to section 5054.(3) Evidence of the Bond sale structure pursuant to article 6 of chapter 1.(4) An inducement resolution pursuant to section 5033(b){4).(5) A TEFRA Resolution pursuant to section 5033(b)(5).(6) Updated sources and uses sections of pages 7-9 with associated attachments E, G, and Hof the CDLAC Non-Competitive Application For An Allocation Of The State Ceiling On QualifiedPrivate Activity Bonds For A Qualified Residential Rental Project (QRRP)(revised 3-~--~-5-~°+1? _1317).

0


{=f}~ri-c~rt~itr~!-oacF-€shy ~€-4~re-~~~e~ra4 ;~d~e-i~-~;~-s€=e~i~~ 3;¢-t}-xn~,v~b;-{b}(6}-rntrst-usess~p Eted-+f~.-~Fx~~^--:=irg-;;~i~+aer-~~-~s~:ei=x.~a~-.r~„~._ .;{ca;ale-~E3{~,tc~~irssea-~e:z~t3s~r~~

Verification of Zeni~_and_L~ac.~l A~?~7rcv~I>~rarst~~rsY }~ sect or=~2y4th~j~~ An u dated AttachlT7En~ Y of thc~ S~nd,~rrd QRRP C3;~en ~.pp(~c~iion ~r Stardar~_C~~£~Competitive Application

deadline. __ ---

(c) Supplemental Allocation requests for Projects that have received Allocation more thanthirty six (36) months prior or are submitted during a Competitive Application Process mustcomply with the process for filing a new complete. Application pursuant to article 4 of chapter 1and the appropriate provisions ofthis chapter.


~ectiar: n~5t€. dap["scat¢ar€ €~~quPrer~s:r,ts, (a) Applications for Scattered Site Projects shallprovide all information required for each site. Additional stipulations are as follows(i) 6a~a ~t~aE~~ ~ sr-:~~ ~.-„ ee,~,e ttt~Es-EaL~=e ~'~}~~-,?-a~ sFr?ed--f~r-s~c;#fsrr53-7-0:-=k~~{_~~

r••••••.••••, •,•, ••••••••, ~••.•.••.•~~.^ .. ~. ., .,~..~~i..~,~s....~uvcu..~....ti_vcrr-arcc-tT rcrsc-m~cr ,.,.1 Js'rr tYYc-c¢-tt'tL'

tr+it~ee's-I,-fie-~r~te-arc#-r.~~>t-r~,~~rse~if;+,-~~t,~e~fr~~-~ ~;utise~ inssf°~~sott-~39t-f2} A Capital Needs Assessment report may combine information for. all Project sites in onereport.(32) A Market Study may combine information for all Project sites in one report; however theMarket Study shall have separate Rent Comparability Matrices for each site.(~3; Acquisition/Rehabilitation Projects where each location is subject to an existingResidential Rental Regulatory Agreement or a federal, state, or local operating or rentalassistance agreement mayprovide, as an alternative to providing a market study and

..affordability matrices consistent with Sections 5200(a) and 5250(a)(3), a comprehensive.market study consistent with 26 U.S.C, Section 42(m)(1)(A)(iii). The study must be a writtenstatemenfcertified by a third party market analyst and the project must meet at least one of'the following requirements"(A) as certified by a third-party market analyst, the proposed tenant paid rents and incometargeting will not exceed one hundred-five percent (105%) of the current rents and targetingand a vacancy rate of no more than five. percent (5%); for single. room occupancy andsSpecial ~rNeeds housing a vacancy rate of no more than ten percent (10%); or(B) as evidenced by copies of executed contracts, the project has been receiving federal,state, or local operating or rental assistance and will continue to receive such assistance for atleast five (5) additional years. I[a contract demonstrating operating pr rental assistance for anadditional five (5) years is not available, a letter signed by the contractor's senior official maybe submitted that describes the efforts undertaken to effectuate an operating or rentalassistance contract, the expected duration of the contract, and the expected contractexecution date.(s4) Evidence of site control shall be required for each site.(b5) Any maps provided shall include each site.(b) An Applicant may seek a waiver of the Scattered Site five (5) location limit. A writtenrequest describing how the project will benefit from waiver of the location limit must besubmitted no later than the application due date for the allocation round in which the Project isseeking an allocation.Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c),8869.85(a) and 8869.85(b), Government Code.

particle 13. 43c~~!'v#i~ai 98~~€s~~s~ti~8 Re~st~9 i~rc~~~ct ~illae~tias~ ~ +s.:~~t €~r€~c~~s ~~rQ~ceb~r Zfk17

~ectfa~a 553. At4~c~t#an ~~ea~s# F~e~u@r~a~ce~et~. (~1 ~~tvaithstan~i~ amr other grouisior~ofi these regulations between the effective data of this s~ctson and lanua~z 1 20T H, requests fiorC~, u_alified Residential Rent~I Project Allocation shall bP made by submitiinF, a wri~ten reaues~ got

L[I]


less ti~~n 14 i~ys prior ~o the meeting aY which the request ~ar~ a?lac~tion Ktrili ~a~ ~~onsi~+~r~d.The letter rnust be suu~~itted aE2c= s~ r:Eu ~y the!ss~z~=wand #~i6j?ct S~r~nscrr €~~' ins ud~ thefollowing information: —

t1? Thy ProiecYs pP~Ysical address;t2} Safiisfactory evidence of site control{3} q sTatemeni of sources and uses for the Froiece~

The total ama~~nt of allocation re uesty d(51 An adopted TEFRA resolution evidence that a i a FRA hearing :vas heP~!, or evidence t;~atTEFRA has been scheduled snd is rRotice~ to occu~rira; Cu ranuary f, 2Q1(6} Whether tl~e Proi~ct is fo; acc~t~isittor, rel»(~ ~it~Ei~n r~r ~'le+v Constrt~cil~inyt;7}_tl~me crr the Issut~r:18) Narr~e of the gronosed ~rro~e ~v+~:an~;~er for file Fro~eC;(9) Si~nect term sheet frcrn lenderfunderlvrit~r~(201 Pkan~e of suk~~ecY pr~~~r 's current ~wrner;(11) Proi~ct Inducement resolution:(12) Payment of $1 200 initial CQG;C feet(13) Performance Qe c+sit Certification ~ornr14 SignEd CdLAC Certificativn~15 ToCal number of snits. nu~nb~r o7 Esni~s at SG`~~ ~at~;t anu ~U;%o k~~t_____nurrv:~~r of e.aari<eC rateunits, and nuitiber of manager's canits anc;{161 WheCher the Project is aRural /fixed I,~come, or Genera! Pool r FEst.(b} The completed request from the issuer must be. accompanied a~f ~r~~rfiormance r~er,~sitcorrsister~t with Section 5050 of the CDLAC iet~~al~tians.j~Requests shall be subr~~itted electror7ically by the issuer via PDF to th f~Ilo~~in tmaiiaddress cdlac treasurer.ca.~ay. Upon receipt of the Rllvcatlon rraueet, initial CDfAC fee, andPerformance Deposit Certification CC~LF~C will r~~vi~v~ the Allocation request far com~l~teness

which the Project can be rp oneriY noticed.(d} in Che event Afloeatic~n rec~~ests are received for ar, amount ~re~tt:; tF~an the amount ofstaY~ceilin~ available. ~Ilocati~n requmsts w.~tlf h~ c~nsicier~d ~ursuar~t Fo the>G17 uaiifieaR~si~~ntial R~nt~l Pro~ecY r~eserva~icn PoQ's an?~ erne r~ th~s~ Dols, ~ecommenda~io~rswill ~2made in thU order in which she Alir~catic n reQue~t> were r~ec~iv~d.(e7 Allocations made subject to this section will remain in effect throu^h December "s1, 2017 end.ill expire thereafter i{ s~oncis are not issued.~~ This section shall r~m~in irr effect until J~nuary 1, 2G~8 and as o€tl~tar daT~ is i~~~a~alec~.

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c),8869.85(a) and 8869.85{b), Government Code.

~ecYion S~30. ~v~4u~tson Cri~~ria. CDLAC staff will perform all calculations for confirmationof eligibility based on the census tracts) provided by the Applicant.(a) Community Economic Need (25 points maximum). Applications will be awarded points forProjects that are located in communities according to the following:

(f) Land Use/Energy Efficiency (20 points maximum)(1) Six (6) points will be awarded to Projects that reuse the following:(A) Vacant or abandoned buildings; or(B) Vacant or abandoned land with developed infrastructure (excluding land whose immediateprior use was agricultural, open space, or other similar use).

11


(2) Seven (7) points will be awarded to Applications with Projects located within one-quarter(~/a) mile of a Public Transit Corridor evidenced by ascaled-for-distance map showing thelocation of the Project is within aone-quarter (~/a) mile radius of a Public TransportationCorridor. In areas where there is no public transportation system, seven (7) points will beawarded to Applications where the Applicant has an adopted #ransportation systemmanagement plan.(3) Seven (7) points will be awarded to Projects that 1) utilize designs, materials ortechniques to reduce energy usage by at least fifteen percent (15%) or 2) generate at leastfifteen percent (15%) of the Projects total usage through {=€2enewable eEnergy sources.

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections8869.82(a)(il)(B) and 8869.84(c), Government Code.

12

'THE CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE (CDLAC)

COMPETITIVEAPPLICATION FOR AN ALLOCATION OF THE STATE CEILING ON QUALIFIED

PRIVATE ACTIVITY BONDS. FOR A QUALIFIED RESIDENTIAL RENTAL PROJECT

~Q~p)

ISSUER (Applicant):

PROJECT SPONSOR:

PROJECT NAME:

PROPOSED MEETING DATE:

FHA Forward Commitment Request ❑Yes ❑ No

Scattered Site ❑Yes ❑ No

We, the undersigned, hereby make an Application to the California Debt Limit Allocation Committee ("CDLAC") for the

purpose oFproviding rental housing as described herein.

We agree it is our responsibility to provide CDLAC with one original and one duplicate copy of a complete Application,

accompanied by a check made payable to the Committee in the amount of $1,200 and a compleCed Performance Deposit

Certification form. We understand [hat succinct answers providing the requested information are required. We understand

that if additional space ie zequired, each additional page will be clearly labeled. We agree that it is also our responsibility to

provide all information that is deemed by CDLAC to be necessary to evaluate our Application. We understand that CDLAC

may verify the information provided and analyze materials submitted as well as conduct its own investigation to evaluate the

Application. We recognize that we have a duty to inform CDLAC when any information in the Application or supplemental

materials is no longer true and to supply CDLAC with accurate information.

We represent tktat we have read all Governmene Code sections relevant to the CDLAC Regulations Implementing the

Allocation of the State Ceiling on Qualified Private Activity Bonds ("Regulations"). We acknowledge Shat CDLAC

recommends that we seek advice from bond counsel.

We aclmowledge that all materials and requirements are subject to change by enachnent of federal or state legislation.

In carrying out Che development and operation of the proposed projecC, we agree to comply with all applicable federal and

state laws regarding unlawful discrimination and will abide by all CDLAC program requirements.

1Competitive QRRP n -'--:~"-r" Proroosed I 1 21 2017

We aclrnowledge that onr Application will be evaluated based on federal and sCaCe statutes and regulations pertaining toQualified Private Activity Bonds for Qualified Residential Rental Projects and the CDLAC Regulations, which identify theminimum requirements, evaluation criteria, priorities, and other standards that will be employed to evaluate Applications:We acknowledge that the information submitted to CDLAC in this Application or supplemental thereto may be subject to thePublic Records Act or other disclosure. We understand that CDLAC may make such information public after a final decisionby CDLAC has been made on the Application. CDLAC will maintain as confidential, certain financial information, butcannot guarantee confidentiality.

The Project Sponsor declares under penalty of perjury that Che information contained in the Application, exhibits,attachments, and any further or supplemental documentation is hue and correcC to the best of its knowledge and belief. TheApplicant declares [hat the information contained in PARTS I and II of the Application is [rue and corcect to the best of itsknowledge and belief, and as to information contained in the Application, exhibits, attachments, and, further or supplementaldocumentation provided by the Project Sponsor, the Applicant is not aware of any informaCion that would cause theApplicant Co believe that the Application contains any untrue inforrnation ar omits Co state any material information. WeundersCand that misrepresentation may result in the cancellation of an Allocation, and other actions which CDLAC isauthorized to take.

The Project Sponsor cerkifies that the project can be compleCed within the developmenC budget and the development timetableset forth in our Application. The Project Sponsor further ceRifies that the proposed project can be operated in the mannerproposed within the operatdng budget set forth in the Application.

The Applicant certifies that it is in compliance with all applicable statutes, laws, roles, and regulations necessary for thetransaction of its business.

We agree to hold CDLAC, its members, officers; agents, and employees harmless from any matters arising out of or relatedto the awarded Allocation.

We acknowledge that all Application materials are to be submitted, by 4:00 p.m. on the appropriate date.Tl. !" 1'C 1. T ' it

flt G /~....; t,.l Arf.,fl D,.,.... 411

Signature of Applicant's Senior Official or Signature ofProjecf Sponsor Officer

Designee

Print Name

Title

Date

Print Name

Title

Date

Additionalmformation maybe obCained by accessing the Committee's web site at hfto:Uwww.treasurer.ca.eov/cdlac/ or bycalling the Committee at (916) 653-3255.

2Competitive QRRP F~wi~~eA-86-f}3-~?9d 7-Proposed I t 21 2017

L Name of Applicant (Eaaty Issuing Bonds):

Mailing Address:City, Sta[e, Zip Code:

Federal Identification No.:

For mailing of offcial documents:

Name of Applicants Senior Official Telephone #: ( )Title of Senior Official: Fat #: ( )

E-mail:

For questions concerning application:

Name of Applicants Staff Contact Person: Telephone #: ( )Title of Contact Person: Fax #: ( )Mailing Address . E-mailCity, State, Zip Code:

For questions concerning compliance:

Name of Applicant's Staff Contact Person: Telephone #: ( )Title of Contact Person: Fax #: ( )Mailing Address: E-mail:Ciry, State, Zip Code:

2. Name of Bond Counsel Firm:

.Name of Attorney: Telephone #: ( )Mailing Address: Faz #: ( )City, State, Zip Code: ~-mail

3. Name of Bond Underwriter Firm:

Name of AgentMailing address:City, State, Zip Code:

4. Name of Financial Advisor Firm:

Name of Agent:Mailing Address:City, State, Zip Code:

5. Name of Private Placement AgenC Firm (if applicable):

Name of Agent:Mailing Address:City, State, Zip Code:

Telephone #: ( )Faac#:( )E-mail

Telephone #: ( )Fax #: ( )E-mail:

Telephone #: ( )F~ #: L )E-mail:

6. Name of Private Placement Purchaser #1 (if applicable):

3Competitive QRRP ~:;.:;,:,: ~~ ~;-~^-Proposed t 121 2017

Name of AgenC: Telephone #: ( )Mailing Address: Fax #: ( )City, State, Zip Code: E-mail:

Name of Private Placement Purchaser #2 (if applicable)i

Name of Agent: Telephone #: ( )Mailing Address Fax #: ( )City, State, Zip Code: Email:

7. Name of Credit Enhancement Provider (if applicable)

Name of Agent: Telephone #: ( )Mailing Address: Fa7c #: ( )City, State, Zip Code: email:

8. Name of Project Sponsor (Borrower entity):

Name of Senior Officer: Telephone #: ( )

Title of Senior Officer: Fax #: ( )Mailing Address: - E-mail:

City, State, Zip Code:.

Name of Contact Person (if different from Senior Officer):

Title of Contact Person: Telephone #: ( )Fax #: ( )E-mail:

9. Name of Developer Firm

Name of Senior Officer: Telephone #: ( )

Title of Senior Office: Fax #: ( )Mailing Address E-mail:City, State,Zip Code:


Title of Contact Person: Telephone #: ( )Fax #: ( )E-mail:.

4- Competitive QRRP ~';e' ~"' ~^,-"' Proposed I 121 2017

ALLOCATON dNFORMATION

L Amount oftax-exempt bond allocation requested: $

2.Date of project inducement:Submit a copy of the adopted inducement resolution labeled as Attachment A. Applications submitted without this

documentation will be deemed incomplete. (See Section 5033(b)(5) of the CDLAC Regulations)

3. Date of TEFRA approval

Submit proof of TEFRA (public approval process required by 26 U.S.C. Section147(~) labeled as Attachment B. (See

Secrion 5033(b)(~ of the CDLAC Regulations.)

For an open application process, see Cime lYnes posted on the CommitEee's web site.

http://www. treasurer.ca.gov/c dlac/

4. Exceeding the Maxvnum Allocation Amount for Qualified Residential Rental Projects

(See Section 5232(b) of the CDLAC Regulations.)

___yES NO

The Project Sponsor is requesting an exception to the $50 million allocation award limit. 0

If "YES", submit documentation requesting an exception based on the following faarors

• The proposed ProjecC qualifies as a Federally Assisted At-Risk Project; or

The proposed Project cannot be developed in phases at a $50 inilhon level.

The documentarion mush be labeled as Attachment C. The documentarion must be specific and may include,

but is not limited to, a site plan detailing the layout of the subject property, unit mix per stage of phase, any

unique features of the property which inhibrt phasing, a description of infrastructure costs, and a costhraakdnwn by rihases.

5. .Race the Applicauf's (Issuer) Issuance and Compliance policies approve3 within the past 10 vears been cubmi[fed to

CDLAC.~

n Nn. Please explain.es.

BOND ISSUE INFORMATION

1. Indicate anticipated bond issuance date

2. Indicate whether bonds will be sold as:

a. a public offering with credit enhancement

b. a private placement; or

c. a cash collateralized public offering

3. If a fixed rate, what is the fixed interest rate?

If bonds carry a variable rate:Identify the index:

Identify the variable rate (or underwritten rate) at time of application:

5Competieive QRRP ~Fnwtised-86~'~Proposed t 121 2017

Is there a feature to allow a conversion to a fined rate at some time in the future? Under what conditions and when?

3. Ankicipated bond rating: (See Sections 5063, 5064 or 5065 of the CDLAC Regulations):

Ratine Date Ratine AnticipatedFitch

Moody's

Standard & Poor's

If the anticipated bond rating is BBB or Less or is unrated, does the Applicantfavor an award requiring an InvestmentRepresentation Letter or with minimum denomination requirements?

4. Bond Sale Shuc[ure(See Secrions 5061 or 5062 of the CDLAC Regularions.)

Submit a brief description of the bond sale sCructure labeled as Attachment D. The description must include, at aminimum, the construction or interim financing, if applicable, the amount, closing deadlines, security/collateralprovided, investors, guaranties, conditions for closing, anticipated closing date, etc. Also, submit proof of al( firmcommihnent(s) from credit enhancementprovider(s) and private placement bond purchaser(s), labeled sequentially asAttachment D-1, D-2, etc. For FHA financed projects not seekdng a Forward Commitment, a HUD AcknowledgementLetter musC be included with the AttachmenC D documents.

A. Indicate interim or construction period lender:

B. Indicate permanent financing lender.

6. Prior Bond Default or Bankruptcy(See Section 5066 of the CDLAC Regulations.)

Project Sponsors and Bond Issuers may submit an appeal for a waiver of fhe Bond Sale Structure restrictions associatedwith a prior Bond Default or bankruptcy in Attachment D. "Not Applicable, or "1V/A" is not an acceptable answer to 6.Aand 6.B. If the answer is none, indicate "None".

A. Indicate any prior Bond Defaults or bankruptcies on behalf of a Project Sponsor or Bosower within the last 3 years:

B. Indicate any prior Bond Defaults in the last 5 years on behalf of the Bond Issuer/Applicant:

7. Redevelopment Agency Funding

Are there any direct or indirect committed public funds related to Redevelopment Agency resources in existence prior tothe dissolution of Redevelopment Agencies on February 1, 2012'?

❑ No

Q Yes. Provide the below informafion:

RDA Assistant Approval Date:Tax Increment Year:Amount:

6Competitive QRRP Proposed (1 21 2017

Cash-On-Hand (answer Yes or No):On RDA Obligation List (answer Yes or No):.Department of Finance Dace of Enforceable RDA Obligation List:Successor Entity Committed Date:CurrenC Status of Project (Pending Oversight Boazds Issueg of DOF issues, etc.):

Has a final Letter of Determination been obtained? ❑Yes ❑ No

8. Seller Carryback Loan ❑Yes ❑ No

f yes, what is the term, inCerest rate, and repayment schedule?

PROJECT FINANCING INFORMATION

1. `Sources - Construction FinancineSubmit an itemized breakdown of the complete sources of constmction Snancing, including but not limited to thefollowing items, labeled as ACtachment E-1: Tax-ExempC Bond Proceeds, Taxable Debt Proceeds, Developer Equity,Zow Income Housing Tax Credit Equity, Direct &Indirect Public Funds and Seller Carryback Note. Please itemize allliens to be included in the proposed financing.

2. Sources and Uses -Permanent Financin¢complete Attachment E-2 or complete and submit TCAC's Form in Section IV: Sources and Uses Budget: Part I:Sources and Uses Budget or comparable documentarion as Attachment ~2. Please itetnize all liens to be included inthe proposed financing and provide a list of ap liens [o be paidbFf at closing as Attachment E-3.

3. Use of 4%Low Income Housine Tax CreditsIf applicable, please respond.....

Date when application will be made to the CaLfornia Tax Credit AllocationCommittee (TCAC):

4. Leveraging Point Cateeory(See Section 5230(h) of the CDLAC Regulations.)

Projects will eam points for committed public funds and taxable debt financing That are part of the permanent financingof the proposed Project. Submit CDLAC form, Attachment F, that provides a breakdown of the amount and. t}pe ofdirect and indirect public funds and the amount and source of taxabFe debt. In order to receive points for the committedpublic funds, submit proof of the commitments from the applicable sources. In order to receive points for taxable debt.financing that is in the form of convenponal loans, list lenders in the space provided on Attachment F and submit proofof the commitments from the applicable sources. The commitments for public funds and taxable debt, other than taxablebonds, are to be labeled sequentially as Attachment F-1, F-2, etc., as needed.

5. RelocationApplicants proposing the rehabilitation or demolition of occupied housing shall include the cost of any tenant relocationin Attachment E-2 and provide a detailed description of the relocation plan, labeled as Attachment G, Gl or GZ.

6. Estimated per unit cost (met includine Manaeer's Units): $An application requesting allocation with total project costs that appear to be high for the geographic area in which theproject is located will be requested to provide an explanation for why costs are high and clemonsuate that such costs arejustified. Submit,the high cost explanation as Attachment G or G-L

7Competitive QRRP °-.:~~' n.~-n, om ~ p~.~posed 71 21 2017

(See Section 5194 of the CDLAC Regularions.)

7. Itemized Hard Construcrion CostsSubmit an itemized breakdown of hazd'construction costs, labeled as Attachment H. Hazd ConstrucCion/ Rehabilitationcosts shall consist of structure costs only.

8. Capital Needs Assessment(See SecCion 5212 of the CDLAC Regulations.)

Projects invoivin~ the rehabilitarion of existing buildings must submit a Capital Needs Assessment performed no morethan 180-days prior to application deadline, labeled as Attachment A-2. The Capital Needs Assessment shall noC applyif the projectreceived an A1locadon within the past five yeazs and these requirements were met in the originalapplication. Please indicate "Not Applicable" if a Capita] Needs Assessment is not required.

9. Allocation per Restricted Rental Uni[: $(See Section 5231(d) of the CDLAC Regulations.)

If two or more Applicarions receive the same total number of points, [he Applications will be ranked according to thelowest amount of requested Allocation per Restricted Rental Unit.

10. Debt Service Coveraee RatioComplete the following information relating to the Debt Service Coverage Ratio contained in the commitment for creditenhancement or private placement purchase of bonds, using annualized pro-forma figures:

a. Potential Gross Income $

b. Less Vacanc Rate a~ °/o* -$

a Effective Gross Income (a minus b) $d. Less Operating Expenses (include Opernting &

Re lacement Reserves) -$

e. Net Operaring Income (c minus d) $

£ Princi al lus Interest (Debt Service) $

g. Debt Service Covera e (e divided b fl** $

*Use market area vacancy rate or appraised vacancy rate, but in no event use Less than 5%. If less than 5% is being aced,please provide a written explanation as to the reason below.

"*Cannot be ]ess than 1.15 W 1 pursuant to Section 5193 of the CDLAC Regulations except For FHA/HUD projects,RHS projects or projects financed by the California Housing Finance Agency.

Submit CDLAC form; Attachment I that provides an itemized breakdown of the Operating Expenses.

ll. Federal Bond Election❑ 20% at 50%Area Median Income❑ 40% at 60%Area Median Income

8CompetitiveQRRP om:..,,a n~n~ onfo p~.oposed 1 l 21 2017

L ProjectName:

2. Project Street Address..:City:County:Zip Code:

[The zip code must be included. If the project site does nqt yethave a street address, contacE the local United

States Post Office for an approximate zip code.]

3. Legislative DistricCs and Census Tract

a. Federal Congressional District in which the proposed Project is located:

b. State Senate District in,which the proposed Project is located:.

a State Assembly District in which the proposed Project is located:

d. Census Tract in which theproposed Project is located:

4. Prior Tax-Exempt Allocation Award

YES NO

Has the proposed Project received a CDLAC allocation in the past? ❑ Q

Was Uie allocation used to issue the bonds`for the project? Q

Have bond proceeds been used ordrawn down? ❑ -

If "YES", submit a narrative explanation of the circumstances surrounding the prior allocation aiid why

additional allocation is being requested. The narrative must include fhe amount of the previous allocation,

the month and year it was awarded, the CDLAC resolution number, the status of the bonds, the balance of

bond proceeds, and a justification for the additional allocation. ,The narrative must be labeled as AtYaehment

J.

9- Compegtive QRRP n- '~ a n~ ~~.-~m °"„' Proposed 1 12 t 2017

S. Project Type and CharacferisUcs

Submit a narrative description of the proposed Project, labeled as Attachment K The description must conCain, at aminimum, the following details: 1) the number of acres of the site (include topography and special features), 2) adescription of Che surrounding neighborhood, 3) the targeted population for the project (i.e. large famines, seniors, etc J,4) the expected start and completion date of construction/rehabilitation, 5) physical features of the project (i.e.,description of buildings, grounds, project ameniCies, etc.), 6) unit configuration, 7) unit amenities, 8) scope ofrehabilitation work, and 9) if applicable, a descripCion of other unique features of Che project.

Respond by checking as many items as are applicable to the proposed Project.

Project Type and Characteristics Check herea. T'he Project has an e~sting HAP contract. Please aYCach existing contract as Attachment L, L

1, L-2, etc.

The proposed ProjecC is a Federally Assisted At-Risk Project as defined in Section 5170 ofthe CDLAC Regulations.

The proposed Project is a Low Income Housing Tax Credit Resyndication Project.

b. The proposed Project is a Mixed Income Project as defined in Section 5000 of the CDLAC ❑Regulations.

c. The proposed Project is a Rura] ProjecC as defined in Section 5000 of the CDLAC ❑Regulations. DO NOT CHECK if item "b", above, has been checked.

d. The proposed Project is an Acquisition &Rehabilitation Project. ❑

e. The proposed Project is a New ConstmcGon Projector Adaptive Reuse as defined in Section ❑5170 of the CDLAC Regulations.

£ The proposed ProjecC is a single room occupancy (SRO) rental project. ❑

g. The proposed Project is a senior citizens renCal project.

h. The proposed Project is an assisted living rental project. ❑

i. The proposed Project is a sSpecial Needs housing rental project.

10- Competitive QRRP n..~ •~~, n n~ om ~ Proposed 11 2I 2017

6. Complete the following tables: Scattered site projects must submit a separate Table 1 and 2 for each location withAttachment R. The informaCion provided in the tables must be consistent wi«h a market study completed

pursuant Yo Section 5200 (a) of the CDLAGResalaYions fas applicablel, wiCh the responses to Items 9,10 andll,which follow, and between the twu tables. If the rent shown in column "d" of Table 1 will be subsidized,

provide a brief explanation of the subsidy in the blank space below. If Potential Gross Income is significantlyhigher than Monthly Gross Rent, then CDLAC may ask the applicant to identify ocher sources o£Potential Gross.Income to ascertain that these other sources are allowed.

Table 1.

(a) (b) (~) (d) (e) to (g) i (b) 1 (i) (J)# of Unit # of Tota! sq.ft. Proposed Proposed Proposed Monthly Monthl % of Area

Bdrms/ Size Units per unit Monthly Monthly Monthly Income Utility y Gross Median

# of (sq.ft.) type (b x r Tenant- ' Rental per Unit Allowance 'Rent IncomeBathrm c) `Paid Rent Subsidy per (excluding (e+h) 'Based on

s ' per Unit Unit utilities) (e+fl Monthly(excluding Gross Renti utilities

Restricted Rental Units

$ $ $

T~TE~.

Annualized Total Rental Income (SUM(e x ~)) x t2

Projects currently subject Yo Hold Harn~less Rents pursuant to the 2008 Federal FIousing and Economic Recovery Act may continue

to use Hold HarmlessRents in Column (d) of Table 1 when rents are below federal set-aside limits and applicable staterequirements.

Is your project currently subject to Hold Harmless RenCs7 ❑ Yes ❑ No

If "Yes" what yeaz was your project placed in service?.:.

Market Rate Units

(a) (4) (~) (a) (e)

# of Bedrooms Unit sq.ft. # of Units. Proposed Monthly Tenant-Pais Total Proposed MonthlyRent per IInit (cacl. utilities) Tenant-PBid Bent (C x d)

$ $

~ $

~ - $

Total sq.ft.#of Annualized Totai Rental $Units Income (SUM (e))

SUM bxc

Mans ers' Units Restricted Mazket Rate

itCompetitive QRRP n...:..,.a n,~,~n ~ om ~ Posed 11 21 2017

~a) ro) ~~) ~d) fie)

# of Bedrooms Unit sq.tt. # of Units Proposed Monthly Mgr- ToCal Proposed Monthly Mgr-Paid Rent per Unit Paid Rent (c x d)

$ $

$ $

$ $

Total sq.ft. of Annualized Total Rental $Mgr Units Income (SUM (e))(SUM (b x c))

Table 2.

~a) ~) ~c) (d) fie) ~~ fig) ~) ~i)Total No. of Total No. Percent of No. of Percent of No. of Percent of No. of Percent of

Units of Total Units at or Units at or Units Units Restricted Restricted(excluding Restricted RestricCed below 50% below 50% above above 50% Rental Rental UnitsMgr. Units) Units. Units AMI AMI 50% to to 60% Units with with 3 or

(b = a) (d = a).:. 60% AMI ANII 3 or more more(f : a) Bdrms. Bdrms.

(h _ b)

7. Site Control(See Section 5190(a) of the CDLAC Regulations.)

A curreuC title report (completed no more than 90 days prior to application), labeled as Attachneer:tA~i, shall besubntitfed with all applications Por tl~e purposes of this threshold requiremenC. As a condition of meeting thisminimum regniremenC, the Project Sponsor must submit evidence of site control demonstrating its readiness to use theallocation. ApplicaCions not meeting this minimum requiremenC will be deemed incomplete. The evidence of sitecontrol must take at least one of the following forms. Evidence that is in addition to the mandatory title reporC must belabeled as Attachment M-1, M-2, etc.

Respond by checking as many forms as are applicable to the proposed Project.

Form of Evidence Check hereThe Applicant or Project Sponsor holds fee title as evidenced by the title report.

An executed lease agreement or lease option For the length of time the Project will be regulatedunder this program between the Project Sponsor and the owner of the subject property. ❑

An executed disposition and development agreement between the Project Sponsor and a publicagency.A valid, current, enforceable contingent purchase and sale agreement or option agreementbetween the Project Sponsor and the owner of the subject property, including evidence that allextensions necessary to keep agreement current through the date of the award of allocation have Qbeen executed.Valid, current and enforceable purchase and sale agreements, contingent purchase sale or optionagreements in combinarion between the Project Sponsor, a third pally and the owner of thesubject property such that the Committee can determine that upon a grant of Allocation the QProjecC S onsor has a right to ac uire the sub'ect ro erty.

12Competitive QRRP F~w~~~d-8~-&(—~9~3-Proposed 1 121 2017

Documentation from a local agency demonstrating its intention to acquire the site, or a portion of

the site, through eminent domainproceedings. In this instance, the CDLAC Executive Director

has sole discreCion to determine whether such documeneation clearly demonstrates site control. ❑

8. Local Approvals and Zoning{See Section 5190(b) of the CDLAC Regulations.)

The Project Sponsor shall provide evidence, no later than the application due date for the allocation round in which the

Project is seeking an allocation, that the site is zoned for the Project, as proposed, and tUat all applicable local land use

approvals that aze subject to the discretion of local elected official have been obtained. Additionally, if any land use

approval is subject to public appeal, within no less than 5 calendar days prior to the fast public posting of the

Committee, the applicant must provide proof that either no appeals were received, or that any appeals received during

that time period were resolved and the project is ready to proceed. Examples of such approvals include, but are not

limited to, general plan amendments, re-zonings, and conditional use permits; and do not include design review

approvals. The evidence of discretionary local approvals and zoning must belabeled as Attachment N or N-1, N-2, etc.

and take at least one of the following forms.

Respond by checking as many forms. as are applicable to the proposed Project

Form of Evidence Check here

CDLAC Zoning and Local Approval Verification Form bearing the signature of a local planning

'. a enc re resentative. ❑

Letter from a local planning official that verifies all of the information requested by the CDLAC

Zonin and Local A roval Verification Form. ❑

Documentation from a locafagency that cleadq demonstrates the agency's intentions to acquire

the Project site., or a portion of the Project site; through eminent domainproceedings. ❑)

9. Income Restriction(See Secrion 5191 end Section 5192 of the CDLAC Regulations.)

Minimum RequirementA minimum of ten peicent (10%) of the units ima Qualified Residential Rental Project musthave Gross Rents that are

restricted to households with incomes no greater tlian fifty percent (50%) of the Area Median Income (AMI). All of the

rent restricted units thaC meet this equirement, with the exception of Mixed Income Pool piojects and units located on

the upperievel floors of high-rise developments, sfiallbe generally diseributed in terms of location and number of

`bedrooms throughout the project. 'All suchunits shall be'of comparable quality. and offer a range of sizes and number of

bedrooms comparable to those units that are available to other tenants

For federally assisted at-risk projects and 4%low income housing tax credit projects, this shall mean that the Project

units must have Gross Rents that are restricted to households whose incomes must be 50% or less of the AMI; or Gross

Rents that are restricted to households whose incomes must be 60% or less of the AMI: (Consult Section 5170 of the

CDLAC Regulations for the definition of"Gross Rents".) Applications z~ot meeting this minunum requirement will be

deemed incomplete. Complete the tables in3tem #6 of this PART iII. The percentage in column "e" and "g" of Table 2

will be used to determine if the Project meets this minimum requirement.

If the Project is to be substantially retrofitted for energy conservation or :will be newly constructed with substantial

energy conservation, utility allowances based upon the dower utility cost projected after construction or retrofit may be

submitted. Such lower utility allowances must be validated by a public utility letter or public housing authority leCter,

which provides estimates that are adjusted for significant energy conservation sources.

r.,,.ve,a::.,,+t,o n~;.,:.,.;,,,, T„~..,.,P u ~r,;~r~~„~ v~ .,r f`arPo~,~, lCP~t;nn 5~~~lrl of the ('nT.AC' Renulati~ml

(35 points maximum for non-Mixed Income Projects and 15 points maximum for Mixed Income Projeces)

Projects will eam points £or the percentage of units that are restricted to household incomes at or below 50% of the AMI

and between 51%and 60% of the AML' Federally assisted at-risk projects and 4%low income housing tax credit project

will earn points for the percentage of units that have Gross Rents restricted to household incomes at or below 50% of fhe

AMI and between 51%and 60% of the AML The percentages in columns "e" and"g"of Table 2 in Item #6 of this

PART III will be used to determine the points earned in Chis category.

13Competitive QRRP ~—:-~~.,~a~90-~-"'°Proposed 17 21 2017

10. Gross Rents Point Category (Section 5230(d) of the CDLAC Regulations)

All projects that are subject to the use of Gross Rents will eam 5 points in this category. All proposed projects that arenot subject to Che use of Gross Renfs but voluntarily do so will earn 5 points in this category.

Evidence of uCility allowances shall be satisfied with a letter from the local housing authority that includes:a. A certification thaC the proposed Projec[ is located within its jurisdicCion. (ref: IRS Final Regulations T.D. 8520)b. A cu~en[ utility allowance schedule.c. An itemization of which components of the utility allowance schedule apply to the Project.

The documentation evidencing a utility allowance mustbe labeled Attachment O, or if more than one document, as O-1, O-2, eCc. In addition, columns "e", "Y' and "g" of Table I in Item #6 of this PART RI will be used to determine ifpoints aze earned in Chis category.

11. Large Family Units Point Category (Section 5230(g) of the CDLAC Regulations)

Projects where at least 25% of the ResVicted Rental Units are tl~reebedroom or larger units will earn points. Thepercentage in column "i" of Table 2 in Item #6 of this PART III will be used to determine the points earned in thiscategory.

12. MarkeC Study (Sections 5200 and 5250 of the CDLAC Regulations)

All Qualified Residential Rental Project applicants are required to submit a mazket study, labeled as Attachment P, asrequired by Section 5200 of the CDLAC Regulations. The market study must be prepared by an independent thirdparty having no identity of interest with the developments partners, intended partners, or general conhactor and must besubmitted with the Application. Scattered Site projects must also meet the requirements of Section 5250 of the CDLACRegulaCions. Market studies for projects subject to Section 5200(a) of Che CDLAC Regulations must be preparedwithin 180 days of the application filing deadline and include a 1-2 page summary of its findings, particularly withregard to comparable rental properries.

Acquisition/Rehabilitation projects subject to an existing Residential Rental Regulatory Agreement or a federal,state, or local operating or rental assistance agreement, and meeting the requirements of Section 5200(e)(1) or (2),may submit a market study meeting the requirements of Section 5200(e) of the CDLAC Regulations.

For projects submiCting a market study meeting the requirements of Section 5200(a) of the CDLAC Regulations, [hemarket study will be used to deterrnine compliance with the minimum rent restriction requirement that restricted rentsmust be at least 10%below market rents (Section 5191(b) of the CDI,AC Regulations). Please read the CDLACRegulations posted on the CoinmitYee's web site. Note: The unit rents and square footages of the subject propeetyused throughout the Market Study, including all Rent Comparison matrices, must be consistent with the sameinformation shown in Table 1 in this application.

13. Rent Restrictions

Minimum Requirement (Section 5191(b) of the CDLAC Reeulation~Except for Acquisition/Rehabilitarionprojects eligible to submit a market study meeting the requirements of Seclion5200(e) of the CDLAC Regulations, the proposed tenanEpaid rents for each tax-exempt bond unit type in the proposeddevelopment will be at least ten percent (10%) below rents for the same unit t}pes in the comparable market rate rentalpropeRies, as demonstrated by the market study (Attachment P) and the market study's RenC Comparability Matrix,labeled as Attachment R. The informarian in columns "d', "d", and "e" of Table 1 in Item #6 of this PART III mustshow the same proposed rents as the mazket study and will be used to determine if the Project meets this minunumrequirement. Acquisition/'Rehabilitarionprojects submitting a market study pursuant to Section 5200(e) of the CDLACRegulations are not required to submit Rent Comparability Matrices unless Che Project is seeking points for exceedingminimum income restrictions pursuant to Section 5230(e) of the CDLAC Regulations.

Exceeding the Minimum Ren[ Restriction Point Cateeory (Section 5230(el of the CDLAC Regulations)Projects will earn points when the ResCricted Renh for each tax-exempt bond unit types are at least 20"/o below themarket rents for the same unit types, as demonstrated by the maiket study (AttachmenC P) and the market study's RentComparability Matrix (A[tachmenC R). Preservarion Projects that receive points foraverage rents that are at Ieast20%below mazket rents aze not eligible for the points described in this point category. The information in columns "c", "d",

14CompetitiveQRRP~Pr000sed11212017

and "e" of Table 1 in Item #6 of this PART III must show the same proposed rents as tUe mazket study and will be usedto determine the points earned in this category. Acguisiuon/Rehabilitation projects submitting a mazket study pursuant toSection 5200(e) of the CDLAC Regulations that are also seeking points for exceeding minimum income restrictionsmust submit a Rent Comparability Mahix for. each restricted rentaP unit type..

Preservation Projects Point Cateeory (Secrioa 5230(bl of the CDLAC Reeularions]

20 points maximum. Projec:Cs meeting the following criteria shall receive the. following points, up toa maximum of 20 points

10 points.. A project subject to a residential rental regulatory agreement or a local, state or federalrental or operating assistance cornract,; or a project subject to an expired residential rentalagreement that continues the rental structure prescribed by the expired residential rentalagreement, ag demonstrated by, a copy of the executed. agreement or contract, shall receive ten(10) points.

10 additional points. A Project eligible for points under Section 5230 (b)(1) of the CDLACRegulations shall receive an additional ten QO) points if it receives state or federal rentalasststanee or a state, federal, or local operating subsidy and, as a result, the rents are limitedm aCleast fifty percent (50%) of the Project's tenant units to no more khan thirCy percent (30%) of eachsuch unit's tenants': income, as demonstrated by a copy of the executed agreement or contract.

10 additional points. AProject eligible for points under subdivision Section 5230 (bj(1) of theCDLAC Regulations shall receive an additional ten (10) points if it has income restricted tenant

...paid rents for each Restricted Rental Unit type that on average are at least twenty percent (20%)below rents for the same unit types in comparable mazket rate rental properties, as demonstraCedin a market study mezting the requirements o£ section 5200(e) and in a table utilizing three (3)mazlcet compazable properties for each restricted unit type in the Project. The information incolumns "d', "d", and "e" of Table 1 in Item #6 of this PART III must show the same proposedrents as the market study and table(s).

Supporting documentation for Preservation Project points shall be submitted as Attachment L, L-1, L-2. etc.

0

u

u

Submita waled-for-distance map; 3abeled as Attachment Q, showing the location of the pLoposed Project and thecomparable market rental properties. The map must be legible and must clearly show the proposed Project at the centero£a circle with a 1-mile radius.

14. Term of Income and Rent Resu~ictions (Section 5192 of the CDLAC Regulations)

Minimum Tenn of RestrictionsThe Qualified Project Period for the Project must be foi at least 30 years. Projects that maintain the Qualified ProjectPeriod for longer than thirCy (30) years will be awarded two (2) points for egeryfive {5) years of aftoedability beyond.thirty (30) years upto fifry-five (55) yeazs. Consult the CDLACProcedures for the definirion of a Qualified PrujectPeriod. Applications not meeting this minimum requirement will be deemed incomplete.

Proposed Term of Restrictions.

15. Community Revitalization Criteria (Section 5230(1) of the CDLAC Regulations)

5 points. Projects located in a Community Revitatiaation azea will qualify for,five (5) points provided the following issubmitted wl[h the application as Attachment S, S-1, etc.:

(1) documentation showing that the Project is/will be locaCed in at least one of the following areas:

Chazacteristicsbf a Communtt Revitalization Area Check hereAny Qualified Census Tract or equivalent geographic azea defined by the Oensus Bureauin which at least fifry percent (50%) of the households have an income of less than sixtyercent (60%) AMI

15Competitive QRRP "—~~-' gin, ^^'"' Pir000,ed t 1 2t 2017

A Federal Promise Zone as defined in Section 5170 oFthe CDLAC Regulations ❑

(2) a letter from a local government official demonstrating that the development will contribute to a concertedCommunity Revitalization Plan and that delineates the community revitalization efforts, including but not. limited to:

(a) community enhancement services in the neighborhood, including but not limited to, job training or afrer-schoolenrichtnenC programs;

(b) funds, not including funds for the proposed Project, that have been expended in the past three (3) years, Yhat arebeing expended or that are committed to be emended to improve the community infrastructure, including, but notlimited to, parks, storm water systems, sewer systems, or street improvements of the overall area;

(c) projects, including but not limited to, retail, office and housing that conCribuCes Co community revitalizarion thathave been completed within the past three (3) years, are underway or aze committed Co be completed; and

(d) how Che project would contribute to the community's revitalizarion.

16. Site Amenities Point Category (Section 5330(j)(2) of the CDLAC Regularions)

Amenity Check hereA. 2.5 points for one of the following:

The proposed Project is located within:

(1) one-third (i/3) mile of a Public Transit Corridor a transit station, rail station, ❑commuter rail station, bus station or bus stop; or

(2) one-halF(1/2) mile of a High Quality Transit stop ox station; or ❑

(3) the proposed Project is a Rural Project as defined in Secrion 5000 of the CDLACRegulations and is using a van or dial-a-ride service due Co Che lack of a public ❑transportation system available in that Rural Area.

B. Projects eligible for Transit Comdor, High Quality Transit or van/dial-a-rideservice points under 5230(j)(2)(A)(1) or (2) will receive additional pointsfor committing to provide to residents monthly passes for the transit amenity for.which the project received points at no cost ar priced a[ no more than half of retailcost. Passes shall be made available on a firstcome, first-served basis to all tenants ofrent-restricCed units for at least 15 years:

(1) 3 points for at least one pass per rent-restricted unit; or

(2) 1.5 points for at least one pass per each 2Rent-Restricted units.

C. 2.5 points. The proposed Project is located within %: mile of a park or recreationalfacility. ❑

10 points maximum. The Project Sponsor must certify on Attachment T as to the amenities [hat are applicable rothe proposed Project. A project may earn fhe following points (10 points maximum) for each amenity that ispro erly documented and certified to be a licable to the ro osed Pro'ect.

16Competitive QRRP as,;a~a-~-rPro~osed 11 2 L 2917

To eam points. in this category, the amenity must already east, with the following exception: Applicants requestingpoints far site amenities that do not currently exist must include a letter from the controlling entity, signed by anauthorized individual representing the entity, that states the funds for the amenity are committed, and the amenity is

17Competitive QRRP Proposed I 121 ?017

D. 2.5 points for one. of the following:

The pioposed Project is located within close proximity of groceries and other

essential shopping needs. (Grocery means a full service store or supermazket that

provides food staples; fresh meats, poultry, dairy products, and produce; as well as

other personal and household products.. For CDLAC purposes, convenience s[oa'es

and mini marts/markets are not considered full service stoles or supermarkets).

Select one of the following:

1. The proposed Project is within'/z mile of a full scale grocery ~

store/supermarket of at least 25,000 gross interior square feet. For Rural

Projects, within I mile.

2. The proposed Project is within %.mile of a neighborhoodmazket of at least Q

5,000 gross interior feet. For Rural Projects, within %z mile.

E. 2.5 points for one of the following:

The proposed Project is located within close proximity of public schools (K-12

grades), (proposed projects that are restricted to residents 55 years or older shall

nut.

be eligible for points under this criterion).

1. Within % mile of a public elementary school; %mile of a public middle ❑

school, or 1 mile of a public high school that children living in the

development may attend and that the site is within Che attendance area of

that school

2. For Rural Projects, an additional '/z mile fox each public school type. that ~children living {n the development may attend and that the. site is within theattendance area of that school

F. 2.5 points for one of the following.

The proposed Project is located within:(i) 1/2 mile (for Rural set-aside projects, 1 mile) of a medical clinic

{I) that has a physician, physician's assistant, or nurse practitioner onsitefor a minimum of 40 hours each week, and ~(II) that accepts Medi Cal and Medicare paymenCs, or Health Care forthe Homeless for projects housing homeless populations, or that has anequally coruprehensive subsidy program for low-income patients; or

< (ii) 1 mile (forlRural set-aside projects, 1 %z miles) of a hospital (not merely aprivate doctor's-office); or r(iii) 1/2 mile (for Rural projects, 1 mile) of a phannacy.

G. 2.5 points. The. proposed Project is locatedwithin %z mile of a public library ❑

H. 2.5 points. The proposed Project will provide high speed interne[ orwireless "WiFi"service connection to each unit. Service will be available by the placed in servicedate. High speed Internet service, with a minimum average download speed of768 kilobits/second must be made available Yo each unit for a minimum of 15years, free of charge to the tenanCs, and available at the time of the projectslaced-in-service date.

planned. FuWre WiFi service is excluded from the letter requirement In the case of a bus stop that does notcurrently exist, points will be awarded where it is shown that the bus provider and municipality have agreed on andapproved the site for the stop and it will be in existence no later Chan two years after the development is placed inservice. The Project Sponsor must complete Attachment T and provide the required evidence specified inAttachment T.

17. Service Amenities Poiat Category (Section 5230(1) of the CDLAC Regulations)

10 points maximum. The Projec[ Sponsor must complete the certification in Attachment U as to the amenities thatare applicable to the proposed Project. A project may eam 5 points, up to a maximum of 10 points, for each amenitythat is properly documented and certified to be applicable to [iie proposed Project.

Service amenities must be appropriate to the tenant population served and commitCed to for a minimum of 15 years.Programs must be of a regular, ongoing nature and provided to tenants free of charge, except for day care services.Services must be designed to generate positive changes in the lives of tenants, such as increasing tenant knowledgeof and access to available services, helping tenants maintain stability and prevent eviction, building life skills,increasing household income and assets,increasing health and well-being, or improving the educational success ofchildren and youth. Services must be provided on-site except that Projects may use off-site services within I/2 mnle(1 %miles For Rural projects) of the development provided thaC they have a written agreement with the serviceprovider at the time of Application enabling the developmenC's tenants Co use the services free of charge (except Forday care and any charges required by law) and that demonstrate [hat provision o£ on-site services would beduplicarive. Referral services will no[ be eligible for points. Contracts with service providers, service providerexperience, and evidence that physical space will be provided on- or off-site must be documented within theapplication Projects may use off-site services located more than one-half ('/z) mile from the Project (one and one-half (1%) miles for Rural projects) provided that they additionally submit a written agreement demonstrating Yhattenants will be provided with free of charge round-trip transportation between the development and the off-siteservices. Documentation must be provided for each category of services for which the applicant is claiming serviceamenity points and must state [he name and address of the organization or entity Yhat will provide the services;describe the services to be provided; state annual value of the services; commie that services will be provided for aperiod of at least one (1) year; name the project to which tl~e services are being committed. Evidence shall take theform of a contract for services, Memorandum of Understanding (MOU), or commitment letter on agency letterhead.Services delivered by the on-siCe Property Manager of other property management staff will not be eligible forpoints under any category. All organizations providing services for which the project is claiming points mustdocument that they have at least 24 months of experience providing services to the projecC's target population.Experience of individuals may not be subsCituCed for organizational experience.

The application must propose a combined annual value of at least $10,000, or $5,000 for Projects of 20 units orfewer, for those services. In addition, any donated services must be assigned a dollar value by the provider of thoseservices. All anticipated income and expenses associated with the Project's service amenities programs) shall beincluded in Attachment I.

Amenity Check hereA. Five (5) points will be awarded to Family Projects with after school programs of an

ongoing nature. The programs shall include, but are not limited to: tutoring, ❑mentoring, homework club, and azt and recreation activities. The programs shall beprovided weekdays throughout the school year for at least 10 hours per week. -

B. Five (5) points will be awazded to Projects with instructor-Led educational, health andwellness, or skill building classes. The classes shall include, but are not limited to: ❑financial literacy, compuCer training, home-buyer educarion, GED, resume building,ESL, nugition, exercise, health information awareness, art, parenting, on-site foodcultivation and preparation and smoking cessation. The classes shall be provided at aminimum of 84 hours per year (drop-in computer labs, monitoring or technicalassistance shall not qualify).

C. Five (5) points will be awarded to Projects with licensed childcaze providing 20 hoursor more per week (Monday Chrough Friday) to residents of the development ❑

D. Five (5) points will be awarded to Projects with health and wellness services andro rams. Such services and pro rams shall rovide individualized su ort for ❑

18Competitive QR2P moo;'-; ~~ c~-of ^,-o;—~^~ Proposed 7 1 21 2017

tenants (not group classes) but need not be provided by licensed individuals ororganizations. The services shall include, but are not limited to: visiting nursesprograms, intergenerational visigng programs, and senior companion programs. Theservices shall be provided at a minimum of 100 hours per year.

E. Five (S~ points will be awarded to Prpjects with a bona fide service coordinatodsociaSworker. available provided that the experience of the coordinator, the duties of-the ❑coordinator; and a budget to pay for the coordinator are included labeled asAttachmQnt [J-1. The responsibilities must include, but aze not limited Ya (a)providing tenants with information about available services in the community, (b)assisting tenants to access services through refesal and advocacy, and (c) organizingcommunity-building and/or enrichment activities for Yenants (such as hoflday events,tenant council, etc.)

18. Minimum Sustainable Building Standards (Section 5205 of the CDLAC Regulaflons)

The Applicant, Project Sponsor, and the Projects Architect shall complete the certification in Attachment V-1' that thefollowing minimum specifications will be incorporated into the project design fir all. new construction and rehabilitationprojects. The requirements of CDLAC Regulations Section 5205(a)(2) Through {9) are only applicable when investment insuch elements is proposed in the Project's scope of work and/or the Capital Needs Assessment. Please note that if seeking taxcredits, please consider CTCAC's workbook requirements when developing your CDLAC application. (Section 10325(fl(7)(A) of CTCAC re~ulahons.)

A. All rehabilitapon projects shall have improved energy efficiency above the modeled energy consumptionbased on e~sCing condipons, with at least a tell percenf(10%) post-rehabilitation improvement overexisting conditions. Scattered-site rehabilitation projects shall also have atleast a dive percent (5%)improvement over existing conditions at each location..

B. Landscaping. A variety oFplant and tree species that require low water use shall be pio~ided m suf£cientquantities based on landscaping practices in the general market area and low maintenance needs:Projectsshall follow the requirements of the State's Model Water Efficient Landscape Ordinance (Title 23;California Code of Regulations, Section 490 et seq.)(http:ylwww:water.ca.gov/wateruseef3iciencyllaiidscapeordiriance/) unless a local landscape ordiriancebasbeen determined to be at least as stringent as the current model ordinance

C. Roofs. Roofing shall caisy a three-year subconfractor guarantee and aC least a 20 year manufacturer'swarranty.

D. Exterior Doors. Insulated or solid core, flush, paint or stain grade exterior doors shall be made of metalclad, hardwood faces, or fiberglass faces; with all six sides Factory primed and subject to a standard one-year guarantee..

E. Appliances. Refrigerators, dishwashers, clothes washers and clothes dryers provided or replaced within low-income units andJor in on-site community faciliCies shall be ENERGY STAR rated appliances untesswaived by the Executive Director.

F. Window Coverings. Window coverings shall be provided and may include fire retazdant drapes or blinds.

G. Water Heater. For units with individual tank-type waterheaters, minimum capacities are to be 28 gallonsfor one-bedroom and two-bedroom units and 38 gallons for three-bedroom and larger units.

H. Floor Coverings. A hard, water resistant, cleanable surface shall be required for all kitchen and bath areas.Carpeting shall comply with U.S. Department ofHousing and Urban DevelopmendFederal HousingAdministration UM44D.

19Competitive QRRP ~'n-,:---'gin' 'n" Proposed t 1 21 2017

L Tnsulation. All fiberglass-based insulation shall meet the Greenguazd Emission Criteria for Children and

Schools as required by the Califomla Tax CrediC Allocation Committee Title 4, Division 17, Chapter 1,

Section 10325.

Compliance and Verification: Projects that receive an award of low income housing Cax credits (LIHTC) shall submit

e<<idence o£ compliance to TCAC wiTh the Placed in Service Application. Projects thaC receive a Qualified Residential Rental

Bond allocatioq and do not receive a LIHTC award, shall submit evidence of compliance to CDLAC as an attachment to the

first Certification of Compliance (the form of which is attached to the projecC resolution and which is required to be

submitted on March I of each year). For projects noC yeC placed in service, the information is due following receipt of the

verification, but in no event shall this documentation be submitted more than Cwo years after the issuance of bonds.

(I) The project sponsor with rehabilitation projects musCsubmit the California Energy Commission HERS II energy

consumption and analysis report which shows the pre- and post-rehabilitation HERS II estimated annual energy

use demonstrating the required improvement, in their placed-dn-service package.

(2) The project sponsor shall submit third party documentation from one of the ffillowing sources confirming the

exisCence of items, measures, and/or project characteristics:o A certified HERS Ratero A certified GreenPoinC Rater; oro A US Green Building Council Cer[ificafion.

19. 10 points maximum. Sustainable Methods (Section 5230(lc) of the CDLAC Regulations)

Sustainable Methods points will be awazded provided that the Project Sponsor and the licensed Project architect each submit

a certificaCion indicating which items will be included in the Projects design and any relevant specifications.

To receive points for Sustainable Building Methods, the Project Sponsor and Architect must both sign the certification

form (Attachment V-2).

The certifications shall attest that the applicable design elements described in this section will be included in the projects

design and specifications and shall include the signature, Che printed name, the title of the person making the certificarion

and the date of signature. The signature of the Architect must indicate the appropriate license registration number.

If your application is approved, compliance will be demonstrated by the submission of the appropriate third party

verification documentation showing the project has met the requirements for the relevant program. Projects that receive

an award of low income housing tax credits (LIHTC) shall submit the third party verification to TCAC with the Placed

in Service Application. Projects that receive a Qualified Residential Rental Bond allocation, and do not receive a LIHTC

award, shall submit the third party verification to CALAC as an attachmenC to the first Certification of Compliance (the

form of which is attached to the project resolution and which is required to be submitted on March 1 of each year). See

section 5230 of the CDLAC Regulations for specific third party verification requued for each sustainable building point

category.

20. 10 points. New Construcriou and SubstanCial Rehabilitation Projects (Section 5230(m) of the CDLAC Regulations).

Points will be awarded to New ConstrucCion, Adaplive Re-Use and Substantial Renovation projects.

Check here

New Construction ❑

Adaptive Re-Use ❑

Substantial Renovation ❑

21. Foregone Developer Fee (Section 5230(m) of the CDLAC Regulations) .1 point will be awarded for each one percent (1%) of foregone eligible developer Fee; as determined by TCAC

Regulation section 10327.

20CompedtiveQRRP ~-. ~~~a n`n, " „Proposed 1I 2t ZOi7

PROJECT SPONSOR

Submit CDLAC form, AtCachment W-1, that provides information pertaining to the Project Sponsor idenCified m PART I,Item #8, of this Application.

Submit CDLAC form, ACCachment W-2, that provides information perCaining to the experience of the Project Sponsor (if

different than the Developer). The Project Sponsor's CTCAC Certificate of Previous ParCicipaGon and a CTCAC Schedule A

form maybe submitted as Attachment W-2 in lieu of the CDLAC form.

PROJECT DEVELOPER

Submit CDLAC form, Attachment W-3, that provides information pertaining [o the Project Developer identified in PART i,

Item #9, of this Application.

Submit CDLAC form, Attachment W-4, that provides information pertaining to the experience of the Project Developer.

The' Project Developer's CI CAC Certificate of Previous ParticipaCion and a CTCAC Schedule A form maybe submined as

Attachment W-4 in lieu of fhe CDLAC form.

PROJECT SPONSOR AND DEVELOPER

Submit a list of California projects which the Developer and Project Sponsor (if different than the Developer) has developed

or rehabilitaCed wikh fax-exempt bond financing. The list shall include the cities and counties in which theprojects are

located. The list shall be labeled as Attachment W-5.

PROJECT MANAGEMENT COMPANY

Submit CDLAC form, Attachment X that provides information pertaining to the property management company that will

manage the proposed Project.

21Competitive QRRP ~Fhw~~~t~Pr000sed 17 21 2017

1. Financial Viability

Disclose any legal or regulatory action or investigation that may have a material impacf on the financial viability of theproject or the Project Sponsor and Developer. The disclosure should be Linuted to actions or investigations in which theapplicant or the applicants parent, subsidiary, ar affiliaCe involved in Che managemenC, operation, or development of theproject has been named a party.

Response (NoC Applicable is an unacceptable response):

2. Fraud, Corruption, or Serious Harm

Disclose any legal or regulatory action or investigation involving fraud or corruption, or health and safety where [here areallegarions of serious harm to employees, the public, or the environment. The disclosure should be limited to actions orinvestigarions in which the Project Sponsor and Developer or the Project Sponsor's and Developer's current board member(excepC for volunteer board members of non-profit entities), parme;, limited liability corporation member, senior officer, orsenior management personnel has been named a defendanC within the past ten years.

Response (Not Applicable ie an unacceptable response):

Disclosures should inc&rde civil or criminal cases, filed in state or federal court; civil or criminal investigations by local,state, or federal law enforcement authorities; and enforcement proceedings or investigations by local, state or federalregulatory agencies. The iv~formation provided must include relevant dates, the nature of the allegaaon(s), charters,complaint orfiding, and the outcome. For apublicly-traded company, the relevant sections of the company's IOK, SK, andIOQ most recently filed with the Securities and Exchange Commission may lie attached in response to question #1. Withrespect to a response for guestton #2, previous 10l~ 8K, and IOQ filings of the company may be attached ifnpplicable.

22Competitive QRRP n-.~evS;~~n~^-~,., ''~^,-''' Proposed t I Z I 2017

If a separate sheet is used to respond to the following questions, the sheet shall be labeled Attachment Y.

Please provide information regarding the current owner of the project property, if other than the Project Sponsor, by

submitting CDLAC Attachment Z.

23Competitive QRRF Proposed 1 121 2017

QRRP APPLICATION DOCUMENTS CHECKLIST

X113 CIICC~ISt IS DfOVI~e[~ to en l•~IrP, f~iaf a mmn~etr~ annliraHnn nar~raaa is FIPd with rhP ('nmmirtNA TF ~a ~~r•.~6

Your aoolication nackaee must contain the fnllnw;nn~

Check Box Document Description Attachment Name$1,200 initial filing fee.(See Section 5054 of CDLAC Re ulaeions JSi_gned Performance Deposit Certification Form.(See Secrion 5050 of CDLAC Re ulations.

Proof of Performance Deposit

Completed and si ed applicarion form.

Adopted Inducement Resolution. ~(See Section 5033(b) 4 CDLAC Regulations.)Evidence of TEFRA process and noticing. B(See Section 5033(b)(5) of CDLAC Regulations.)Documentation supporting the requesC fox an exception to Che maximumallocation amount for Qualified Residential Rental Projects. C(See Section 5232 of CDLAC Regulations)Commitments) on letterhead for credit enhancement or private placementbond purchase. If FHA non-Forward Commidnent, HUD Acknowledgement

D or D-1, D-2 etc.IeCter must be Included.(See Sections 5060, 5061 and 5062 of CDLAC Re ulations.)

Itemized breakdowns of the complete sources of funds for construction. E-1

Itemized breakdowns of the complete sources and uses of funds forpermanent financing. Submit CDLAC Attachment E-2, or TCACApplication Section IV Sources and Uses Budget Partl, or comparable ~Zdocument.rr_-„;~~a ?;;~ ~~E~~' '?~~, ,~ ~~ ~:.+ .Fc....~ .: .Disposition of current., r......,~,~.~~

E3outstandine lienx.

Breakdown of the amount and type of direct and indirect public funds (form Frovided by CDLAC). (See SecCion 5230(h) of the CDLAC Regulations.)Commitments) or other evidence of direct and indirect public funds. (See

F-1, F-2 etc.Section 5230 b of CDLAC Regulations.)

Relocation Plan, if Acquisition and Rehabilitation project. G or Gl

High per-unit cost justification G, Gl or G-2

Itemized breakdown of the hard construction costs. H or H-1

Capital Needs Assessment. H ~(See Secrion 5212 of CDLAC Re ulations

Itemized breakdown of opuating expenses (form provided by CDLAC). I

Narrative of prior allocation award and reason for new request. J

Narrative description of [he proposed Project. K

Evidence of Preservation Project and AAP contract, if applicable. L or L-1, L-2 etc.(See Section 5230(b) of the CDLAC Re ulations.)

Evidence of site control.(See Section 5190(a) of the CDLAC Regulations.)

M, M-1, M-2 etc.

Evidence of local approvals and zoning (form provided by CDLACj. Nor N-1, N-2 etc.See Section 5190 b) of the CDLAC Re ulations.)

Justification or validation of utility allowance. (See Section 5230(d) oPthe ~CDLAC Re ulakions.)

24Competitive QRRP ”—:~~a,~.,~~ 'o-o,-~-~-^ " k~roposed I t 21 2017

Market Study. p(See Section 5200 of the CDLAC Regulations.)

Scaled-for-distance map showing the proposed Project at the center of a Q

circle that encompasses the comparable market rental properties..

Rent Compazability Matrix(See Section 5200 of CDLAC Regulations.)

Elignble Projects submitting a Market Study pursuant to Section 5200(e) of

the CDLAC Regulations are exempt from submitting Rent Comparability R

Matrices unless requesting points for below mazket rents pursuant to Section

5230(b)(3) of the CDLAC Regulations.

Scattered-site Projects onl . A lication Tables 1 and 2 for each location.

Documentation confirming Community Revitalization Area designation and S, S-1, etc.activities. (See Secrion 5230(1) of the CDLAC Regulations.)

Project Sponsor's certification that Che site aznenities areexisting and are

appropriate for the population being served. T

(See Searion 5230 j)(1) and (2) of the CDLAC Re ula6ons.

Public transit or van or dial-a-tide service time schedule and xouCe map

showing the proposed Project is within ~'i 1/3 mile of a Public Transit T-1

Corridor.Scated-for-distance map showing the proposed Project at the center of a

circle with a'/z-mile radius and the location of the applicable site amenities T-2

within such radius.

A IeYter from the controlling entity, signed by an authorized individual

representing the entity, that states the funds for the amenity are committed, T-3

and the amenity is Tanned.Project Sponsor's certification that the service amenities are appropriate for

the population being served. USee Section 5230(1)(I)(A) oFthe C~DLAC Re ulations.)

Experience and duties of the bona fide service coordinator/social worker and

minimum 1-year contract for services, MQU, or commitment iettaz on U-1

agency letterheadDetailed budget displaying ail an5cipated income and expenses associated

with the Projects service amenities and evidence of the combined annual U-2

value of the service amenities.

Scaled-for-distance map showing the location of o'Ff-site service amenities, if U-3any, within %mile of [he proposed Project.

Minimum Sustainable Building Standards certification by the Project

Sponsor, Project ArchitecC, and Applicant (See Section 5205 of the CDLAC V-fRegulations).

Sustainable Methods Certifications by the Project Sponsor, ProjecC ~ 2

Architect, and A licant (See Section 5230(k) of the CDLAC Ite ulations).

Information pertaining to the Project Sponsor. W-1

Information pertaining to the Project Sponsor's experience (form provided w Z

b CDLAC).

Information pertaining to the Project Developer. R'-3

Information perCaining to the Project Developer's experience (form provided W 4

b CDLAC).A list of the Project Sponsor's and Developer's California projects with

applicable cities and counCies thae were developed or rehabilitated with tax- W-5

exem t bond financin .

25Competitive QRRP " :'~' '~" Proposed 1 12I 20I7

Information pertaining to the proposed property management company X(form provided by CDLpC).

Responses to PART V —Legal Status of Applicant and Project Sponsor. 1,

Responses to PART VI, if applicable, pertaining to Current Owner of Zro erry (form rovided by CDLAC).

26Competitive QRRP ~ ~e~°~,--rProposed I 1 21 2017

PERFORMANCE DEPOSIT CERTIFICATION FORMFOR AN APPLICATION FOR AN ALLOCATION OF QUALIFIED PRNATE ACTIVITYBONDS

THE CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE (CR~AC)915 Capitol Mall, Room 311Sacramento, CA'95814

(916)653-3255

CERTIFICATION OF THE (Applicant)REGARDING AN APPLICATION FOR QUALIFIED PRIVATE ACTIVITY BOND ALLOCATION

In connection with the following Qualified Private Activity Bond Application:

APPLICANT:.

AMOUNT OF A~~OCATION REQUESTED: $

PROJECT NAME/PROJECT TYPE:

the undersigned officer of the (Applicant) hereby certifies as follows

1. I, (Name), am the (Title) of the {Applicant), and am duly authorized to make

the deposit required below.

2. The (Applicant) has collected and has placed on deposit in an account in a financialinstitution $ dollars (write out dollar amount in words), which equals one half of

one percentbf the amount of the Qualified PrivategctivityBond Allocation being requested,not to exceed $100,000.

3. The deposit will be held until receipt of a written notification from the California Debt LimitAllocation Committee that the deposit is authorized to be released or #orfeited, in whole or inpart, pursuant to Articie'5 of Chapter 1 of the Committee's Regulations.

4. To the extent that any portion of the deposit is forfeited, the Applicant agrees to send therequired amount in a check made payable to "The California Debt Limit Allocation Committee.".Such check`shall be mailed to the Committee at the address noted above immediately. upon..receipt of the written notification from the Committee.

5. The undersigned has read the Regulations of the California Debt Limit Allocation Committeeand understands that if a Qualified Private Activity Bond Allocation is not used for the purposefor which it was granted, the performance deposit must be forfeited to the Committee.

Signature of Senior Official Print or Type Name

Title Date

27Competitive QRRP ~-;-:~' no-`-~", ''.„Proposed 1 t 21 2017

1) Each Applicant for a Qualified Private Activity Bond Allocation must submit evidence to theCommittee that it has on deposit in an account in a financial institution an amount equal to one half ofone percent of the amount of Qualified Private Activity Bond Allocation being requested, not toexceed $100,000.

2) Applicants are advised to read Article 5 of Chapter 1 of the Committee's Regulations.

3) The Performance Deposit Certification Form (see other side) must be filed with the Committee inconjunction with the filing of an Application and by the Application Deadline.

4) The Committee will authorize release or require forfeiture of the deposit as follows:

a) If the Committee provides no Allocation, or grants an amount Iower than requested by theApplicant, the Committee will authorize release of the deposit or release of a pro rata amount ofthe deposit so that only one-half of one percent (0.5%) of the Allocation granted is on deposit;

b) If the Applicant uses only a portion of the Allocation granted to issue bonds (or convert theAllocation to mortgage credit certificate authority), the Committee will authorize the release ofthe deposit in accordance with the conditions imposed at the time of Allocation. The Committeewill approve the Allocation with the deposit fully refundable if 80% or more of the Allocation isused to issue bonds prior to the expiration date. if less than 80% of the Allocation is used toissue bonds prior to the expiration date, the refundable performance deposit will be pro-rated.For Mortgage Credif Certificate Programs, if 80% or more of the Allocation is converted tomortgage credit certificate authority and at least one mortgage credit certificate is issued prior tothe expiration date, the performance deposit will be refunded in full. If less than 80% of theAllocation is converted to mortgage credit certificate authority and at least one mortgage creditcertificate is issued prior to the expiration date, the refundable performance deposit will be pro-rated.

c) If the Applicant does not use any of the Allocation to issue bonds prior to the expiration date (orconvert the Allocation to mortgage credit certificate authority and issue at least one mortgagecredit certificate prior to the expiration date), the entire deposit will be forfeited; and

d) If the Applicant or the Project Sponsor withdraws the Application in writing prior to theCommittee's consideration of the Application, the performance deposit shall be automaticallyreleased and no written authorization from the Committee shall be necessary.

5) If the Applicant forfeits alI or a part of a deposit pursuanf to Article 5 of Chapter 1 of theCommittee's Regulations, the Applicant shall send the required amount to the Committee in a checkmade payable to "The California Debt Limit Allocation Committee". Amounts received will bedeposited in the Committee's Fund.

6) Project Sponsors bear the risk of forfeiting all or part of their performance deposit if the Allocation isnot used in accordance with the conditions and timeframes set forth in the Committee Resolution.

28Competitive QRRP ~v:ss' < n~.~~~n~ o Proposed 1 121 2017

CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE

ATTACHMENT E-2

Permanent Sources And Uses

29Competitive QRRP o~. ;,...a nnr ~n~o p~~oposed 11212017

CALl~'ORNIA DEBT LIMIT ALLOCATION COMMITTEE

ATTACHMENT' E-3

Disposition of Current Outstanding Liens

Lender/Loan Amount Disposition Corresponding

ExceptionNumber fromTitle

Example: City of San Jose loan $2.250.000 To be assumed 8dated 5 10 96

30Competitive QRRP ~p:~~ n~o,^n„Proposed 112120(7


ATTACHMENT F

PUBLIC LOAN AND GRANT SUBSIDIES

If one or more of fhe following subsidies aze proposed indicate with an "X", state the amount, and include

a copy of the. commitment.

«X„ Amount

HOME Investment Partnership Act (HOME) ' ❑ $

,Community Development Block Grant (CDBG) ~ ❑ $

RHS 514, 515, 516, 538 ❑ $

Century Housing Corporation ❑ ~

Redevelopment Set-aside ❑ $

HCD's Multifamily Housing Program ❑ $

Federal Home Loan Bank AHP Funds ❑ $

.Other (Specify) ❑ $

TAXABLE DEBT FINAtiCING

List below the taacable debt lenders.

Name of Lender Term in Interest Rate Amount of FundsMonths

,.%o $

%.:

°~a

%.

Total TaxableDebt $

31CompetitiveQRRPo...;.~.+n,~.,,~~n, ~ni~Pronosed1121201~


ATTACHMENTI

ANNUAL OPERATING EXPENSES

General Administrative

Advertising $

Legal $

Accounting/Audit $

Security $

Other $

Total General Administrative $

Manaeement Fee $

Utilities

Fuel $

Gas $

Water/Sewer $

Other $

Total Utilities $

Payroll/Payroll Taxes

On-site Manager $

Maintenance Personnel $

Insurance $

Other $

Total PayrolUPayroll Taxes $

Maintenance

Painting $

Repairs $

Trash Removal $

Exterminating $

Grounds $

Elevator $

Other $

Total Maintenance $

Service Amenities Budeet

Service Coordinator/Social Worker $

Other $

Total Service Ameniries

32Crnnpeti6ve QRRP n~ :~-.' n -,'n" Proposed t 121 20U

Other (specify

Total Other ~

Total Annual Residential Operatine Expenses $

Total Real Estate Taxes $

Total Reserves (operating &replacement) $

Annual Commercial Operating Expenses (if applicable) $

Total Commercial Space Ex ep rises (if applicable) $

TOTAL OPERATING EXPENSES ~

33Competitive QRRF n... ~~..a n,~~,.,~n~ on» Proposed I 12t 2017


ATTACHMENT N

VERIFICATION OF ZONING AND LOCAL APPROVALS(Questions #3, #4 and #5 are not applicable to Acquisition/Rehabilitation projects)

PROJECT DiAME:

PROJECT ADDRESS:

ASSESSOR PARCEL NUMBER (S):

PLANNING FILE NUMBER:

PROJECT CITY:

PROPOSED NUMBER OF UNITS:

HOUSING TYPE:

The entire parcel upon which the above-described project will be located is zoned ,which allows for a

Qualified Residential Rental ProjecC (multifamily housing) developmenC of no greater than units per acre.

1. Does the project currently comply with all applicable local land use and zoning prdinances (If no, please explain)?

2. Please describe the current zoning and maximum per unit deusiry allowed for the site.

3. a. Has the project sponsor (developer) obtained all local approvals (other than a building permit and design review) thatare subject to the discretion of local elected officials? If no, please explain.

b. Are any local approvals subject to public appeal? IF yes, provide fhe date that each appeals period will lapse. If anyland use approval is subject to public appeal, within no less than 5 calendar days prior to the first publicposCing of the Committee, the applicant must provide proof that either no appeals were received, or that anyappeals received during that time period were resolved and the project is ready to proceed.

4. .Are there any outstanding approvals required by the Planning Commission, City Council, Board of Supervisors or otherdiscretionary voting body for land use enCitlements (If yes, please explain)?

5. Are you aware of any state land use related approvals whieh maybe required (If yes, please explain)?

DATED:

STATEMENT COMPLETED BY:

SIGNATURE:

TITLE:

(Please Print)

TELBPHONE: FAX: E-I4IAIL:

34Competitive QRRP o... ~....., n< n ~ ~n ~ ~ proposed 11 21 2017

ATTACHMENT T

SITE AMENITIES

YO nnintc maximum Check as many amenities as are annlicahle to the nr~nosed ProiecL

Check here if Check here if

SltO f~1T10rilty amenity amenity iscurrently proposed, butexists not currently

exis8x

A. 2.5 points for one of the following:

The proposed Project. is located within:

(1) one-Hurd (1/3) mile of a Public Transit Comdor a transit station, rail station, ❑ Qcommuter rail station, bus station or bus stop; or

2) one-half (112) mile of a High Quality Transit stop or statron; or Q Q

(3) the proposed Project is a Ruxal Project as defined in Section 5000 of theCDLAC Regulations and is using a van or dral-a-ride service due to the lack of ❑ Qa public transportation system available in that Rural Area.

B. Projects eligible for Transit Comdor, High Quality Transit or van/dia] a rideservice points under Section 5320Q)(2)(A)(I) or (2) will receive additional pointsfor committing to provide to residents monthly passes for khe transit amemry for

which the project received points at no cost or priced at no more than half o£retail

cost Passes shall be made available on a first-come, firsC-served basis to all tenantsofrent-restricted units for at least 15 yeazs:

(I) 3 points for at least one pass per rent-restricted unit; or ❑ ❑

(2) 1.5 points for at least one pass per each 2Rent-Restricted umta ❑ Q

C. 2.5 points. The proposed Project is located within'/z mile of a park or recreational ❑ ❑

..facility

D. 2.5 points for one of Hie following:

The proposed Projeci is located within close proximity of groceries and other

essential shopping needs. (Grocery means a full service store or supermarket that

provides food staples; fresh meats, poultry, dairy;products, and produce; as well

as other personal and household products. For CDLAC purposes, convenience

stores and mini-marts/mazkefs are not considered full service stores ar

supermazkets).

Select one of the following:.

1. The proposed Project is within %z mile of a full scale grocery store/supermarket

of at least 25,000 gross interior square feet. Foc Rural Projects, within 1 mile.

2. The proposed Project is within %mile of a neighborhood mazket of at least

5,000 gross interior feet For Rural Projects, within'/~ mile. ❑ ❑


35Competitive QRRP ~e~Bk~Pronosed 1 121 2017

The proposed Project is IocaCed within close proximity of public schools (K-12


not be eligible for points under this criCerion).

I. Within'/a mile of a public elementary school; '/~ mile of a public middle

school, or 1 mile of a public high school YhaC children living in the

development may attend and that die site is within the attendance area of

that school.

❑ ❑2. For Rural Projects, an additional Yx mile for each public school t}pe that

children living in the developmenC may attend and that the site is withinthe attendance area of that school.

F. 2.5 points for one of the following:

The proposed Project is located within: ❑ ❑(i) 1/2 mile (for Rural set-aside projects, 1 mile) of a medical clinic:

(I) that has a plrysician, physician's assistant, or nurse practitioneronsite for a minimum of 40 hours each week, and(II) that accepts Medi-Cal and Medicare payments, or Health Care forthe Homeless for projects housing homeless populaTions, or Yhat hasan equally comprehensive subsidy program for low-income paCients;or

(ii) 1 mile (for Rural set-aside projects, 1 '/z miles) of a hospital (not merely aprivate doctor's office); or(iii) 1/2 mile (for Rural projects, 1 mIle) of a pharmacy.

G. 2.5 points. The proposed Project is located within %z mile of a public library. ❑ ❑

H. 2.5 points. The proposed Project will provide high speed Internet or wireless"WiFi" service connection to each unit. Service will be available by the placedin service date. High speed Internet service, with a minimum average download ❑ ❑speed of 768 kilobits/second must be made available to each unit far a minimumof 15 years, free of charge to the Cenants, and available at the rime of the projectsplaced-in-service date.

To earn points in this category, the Project Sponsor mast 1) complete the certification provided below; 2) if applicable,submit evidence of a Public Transit Corridor or van or dial-a-ride service (such as a time schedule or route map that clearlydemonstrates the Project is within ]/3 mile of a transit station, rail station, cominuCer rail station, bus station or bus stop),labeled as Attachment T-1; 3) submiC ascaled-for-distance map, labeled Attachment T-2, showing the proposed Projectand the other applicable site amenities (Che map must be legible and must clearly show the proposed Project at the center of acircle with a 1 mile radius (1 %: miles for rural projects) and the locations of the claimed amenities within distance radiiapplicable to each amenity); and 4) for site amenities that do not currently exist, a letter from the controlling enCiry, signed byan authorized individual represenring the entity, labeled as Attachment T-3, that states the funds for the amenity arecommitted and the amenity is planned (Future WiFi service is excluded from the letCer requirement); in case of the bus swpthat does not currently exist, the leCter must show that the bus provider and municipality have agreed on and approved the sitefor the stop and it will be in existence no later than two (2) years after the development is placed in service.

CERTIFICATION

"As the Project Sponsor, I certify that the (name of project) will have the amenities checked above and that these amenitiesare existing or proposed, and appropriate for the population being served."

Signature of Project Sponsor Officer Print Name of Project Sponsor Officer

36Competitive QRRP F~w~Proposed 1 12I 2017

ATTACHMENT USERVICE AMENITIES

~ 0 oints maximum Check as many amenities as area licable to the ro osed Pro"ect.

' Amenit Check box

A. Five. (5) points will be awarded to Family Projects with afrer school programs of an

ongoing nahice. The programs shall include, but are not Ihnited to: tutoring, ❑

mentoring homework club, and art and recreation activities. The programs shall be

provided weekdays throughout the school year for at least l0 hours per week

B. Five (5) points ~willbe awarded to Projects with instructor-led educational, health

and wellness, or skill building classes. The classes shall include, but arenot limited ❑

to: financial literacy, computer training, home-buyer education, GED, resume

building, ESL, nutrition, exercise, health informationJawareness, art, parenting, on-

size food cultivation and preparation and smoking cessapon. The classes shall be

provided at a minimum of 84 hours per yeaz (drop-in computer labs, monitoring or

Technical assistance shall not ualif ).

C. Five {5) points will be awarded to Projects with licensed childcare providing 20 ❑

hours or more er week (Monday throw h Frida) to residents of the develo went.

D. Five (5) points will be awarded to Projects with health and wellness services and

programs. Such services and programs shall provide individualized support for ❑

tenants (not group classes) but need not be provided by licensed individuals or

organizations. The services shall include, but aze not limited to: visiting nurses

programs, intergenerational visiting programs, and senior companion programs. The

services shall be provided at a minimum of 100 hours per year.

E. Five {5) points will be awarded Co Projects with a bona fide service

coordinator/social worker available provided that the experience of the coordinator,

Uie duties of ilie coordinator, and a budget to pay for the coordinator are included ❑

labeled as Attachment U-1..The responsibilities must include, but are not limited

to: (a) providing tenants with information about available services in the community,

(b) assisting tenants to access services through referral and advocacy, and (c)

organizing community building and/or enrichment activities for tenants (such as

holiday events, tenant council; etc.)

To earn pointy in the category, the Project Sponsor must complete the certification provided below and provide evidence that

the combined annual value of service aznenities is at least $10,000, or $5,000 for Projects of twenty (20) units or fewer,

labeled as AtEachment U-2. If service amenities are to be located off-site, submit ascaled-for-distance map labeled as

Attachment U-3 that clearly shows the locations) o£ the applicable amenity(s) are within'/z mile (I Yz mile for Rural

.projects) of the proposed Project.

(Continued on next page)

37Competitive QRRP ~ ~ "~ "` "` "'~"-Proposed 11 2L 2017

CERTIFICATION

"As the Project Sponsor, I certify that the (name of project) willprovide the ameniries checked above and that theseameniCies are (1) appropriate for the population being served; (2) committed for a minimum of 15 years; (3) &ee of charge(with the exception of licensed childcaze) to the Cenants; and (4) have a combined annual value of at least $10,000, or $5,000for Projects of twenCy (20) units or fewer. I further certify thaC the Project has space available For the amenities, or that theservice amenity is located within 'h mile (1%mile for Rural projects) of the proposed Project, or that tenants will be providedwith free of charge round-hip transporCakon between the Project and all oft=site services located more than one-half (%z) milefrom the Project (one and one-half (l Yz) miles for Rural projects)."


Title Date

38- Competitive QRRP nea,'-;ea-^< n~~m~ Proposed I ] 21 20 ( 7

California Debt Limit Allocation Committee

ATTACHMENT V-1

MINIMUM SUSTAINABLE BUILDING STANDARDS CERTIFICATION

The following nunimum specifications shall be incorporated info the project design when investment in such elements

is proposed in klie Projects scope of work and/or the Capital Needs Assessment Please note that if seeking tax credits,

please consider CTCAC's workbook requirements when developing your CDLAC application (SecCion 10325 (~(7)(A) of

CTCAC regulations).

A. All rehabilitarion projects shall have improved energy efficiency above the modeled energy consumpCion

based on existing conditions, wiCh at least a ten percent (] 0%) post-rehabilitation improvement over

existing condirions. Scattered-site rehabiliYatlon projects shall also have at least a five percent (5%)

improvement over existing conditions at each location.

B. L andscaping. A variety of plant and tree species that require low water use shall be provided in sufficient

quantities based on landscaping practices in the general market area and low maintenance needs. Projects

shall follow the requirements of the State's Model Water Efficient Landscape Ordinance (Title 23,

California Code of Regulations, Section 490 et seq.)(http://www.water.ca.gov/waterc~seefficiency/landscapeordinancen unless a local landscape ordinance has

been deCermined to be aC least as stringent as the current model ordinance.

C. Roofs. Roofing shall cairy a three-year subcontractor guazanYee and a[ least a 20-year manufacturer's

wazranty.

D. Exterior Doors. Insulated or solid core, flush; paint or stain grade exterior doors shall be made of metal

clad, hardwood faces, or fiberglass faces; with all six sides factory primed and subject to a standard one-

year guarantee.

E. Appliances. Refrigerators, dishwashers, clothes washers and clothes dryers provided or replaced within

low-income units and/or in on-site community facilities shall be ENE,RGY.STAR rated appliances unless

-w~aivedbythe.ExecutiveDirector.......... _..

F. Window Coverings. Window coverings shall be provided and may include fire retardant drapes or blinds.

G. Water Heater. For units with individual Lank-type water heaters, minimum capacities are to be 28 gallons

for one-bedroom and two-bedroom units and 38 gallons for three-bedroom and larger units.

H. Floor Coverings. A hard, water resistant, cleanable surface shall be required for all kitchen and bath areas.

Carpeting shall comply with U.S. Department of Housing and Urban DevelopmenUFederal Housing

Administration UM44D.

I. Insulation. Afl fiberglass-based insulation shall meet the Greenguard Emission Criteria for Children and

Schools as required by the California Tax Credit Allocation Commifkee Title 4, Division 17, Chapter I,

Section 10325.

Waiver Requested (please attach proof of waiver approval)

❑ "I certify that the project rehabilitation or construction project will include the minimum sustainable building

requirements as specified above in items A through I. As the project sponsar I have read the CDLAC regulations Section

5205 (b) through (e) and will provide the appropriate verification that tke minimum requirements have been achieved as

required by Secrion 5205(c) of the CDLAC Regulations: '

Signature of Project Sponsor

Printed Name

39Co~n~retitive QRRP o,..:~^tea o`er"'"' Proposed i l 21 2019

Title

Date

❑ "As the licensed ProjecC Architect, I certify* thaC the project will be designed to be in compliance with minimumsustainable building requirements as outline above in items A through I. Compliance with this requirement will bedemonstrated by submission of the energy performance certificate and appropriaCe third party verification to CDLAC asrequired by Section 5205(c) of the CDLAC Regulations."*Please see a detiuition for "certifJ' by Licensed Architect in California Bueineas and Professions Cede Division 3 Chapter3, Article 3x5536 26

Signature of Project Architect, California License # C

Printed Name

Company Name

Company Address

_ ,Company Phone Number

Date

❑ "I am aware that all rehabilitation or construction projects are required to meeC the minimum sustainable buildingrequirements as specified above in items A through L As the ApplicanUIssuer Ihave read the CDLAC regulations Section5205 (b) through (c) and will assist do providing the appropriate verification that the minimum requiremenCs have beenachieved as required by Section 5205(c) of the CDLAC Regulations."

Signature of Applicant's Senior Official

Printed Name

Title

Date

40Competitive QRRP ~4wise~-96-~8~-~9U-Proposed I 121 2017


ATTACHMENT V 2

.SUSTAINABLE METHODS CERTIFICATION

10 points maximum. Check as all items that are applicable to the proposed Project and design, verification of

compliance will be required. Check only one box in each applicable category. ,. -

A. 5 total possible ointsEner Efficienc Certification Check here

Leadershi in Ener y & EaysonmenYal Desi n (LEED for Homes)

Green Communities

Passive House Institute US (PHIUS) ❑❑

Passive HouseLivin Buildin Challenge ❑

Green Point Rated Multifamily Guidelines. ❑

National Green Buildin Standazd ICC/ASRAE — 700 or higher ratin 0

2011 Ente rise Green Communities ❑

I oint: WELL (when not combined with the ro rams above) ❑

B. New Construction and Adaptive Reuse Projects:

L Energy efficiency beyond the requgements in Title 24, Part 6, of the California Building Code:

Percenta e Better than3he 201b Standards Check here

7 ercent 3 oints ❑


Z. Energy Efficiency with renewable energy:

OffseT of Tenants';Load Checkhere

20 ercent 3 oints for Low-Rise/4 oints for Hi h-Rise ❑

30 ercent 4 Dints for Low-RiselS Dints for Hi h-Rise ❑

40 ercent 5 Dints for Low-Rise only ❑...

C. RehabIlitation Projects:Improvement Over

points Check hereCurrent15% 3 Dints ❑

20% 5 Dints ❑

D. Additional Points for Rehabilitation Pro'ects:

A. 2 points. Photovoltaic generation or solaz energy as described in TCAC Check only one box

Regulations § 10325(c)(65)(E): Yor items i-iii

(i) The Project will include photovoltaic (PV) generation that offsets tenant loads; ~

or

(ii) PV that offsets either 50 percent (50%) of common area load (if the combined

available roof area of the project structures, including carports; is insufficient for ❑

provision of 50% of annual common area electricity use, then the project shall

have onsite renewable generation based on at least 90 percent (90%) of the

available solaz accessible roof area); or

41Competitive QRRP Proposed 11 21 2017

(iii) Solar hot water for all tenants who have individual water meters

B. 2 points. The ProjecC will individually meter or sub-meter currently master-meCered gas, electricity, or central hot water systems for all tenants.

C. 2 points. The Project will implement sustainable building managementpractices that include:(i) Development of aproject-specific maintenance manual including replacementspecifications and operating information of all energy and green buildingfeatures; and(iI) Undertaking formal building systems commissioning, retro-commissioning orre-commissioning as appropriate.

E. i points. lmgakonNo isigation; or Reclaimed, Grey or Rainwater firigatioa per TCAC Check herespecifications as described in TCAC Regulations § 10325(c)(65~(F)

F. 2 points. Non-Smoking Policy.

Check hereMulti-building project having at least one nonsmoking building

Single building project having a policy prohibiting smoking in contiguousdesignaCed units

G. 2 oints. Parking Ratio

Parking Ratio equivalent to or less than 1 parking stall per single room Check hereoccupancy or one-bedroom restricted rental unit and 1.5 parking stalls per two-bedroom or larger restricted rental unit.

❑ "I certify that the project rehabilitation or construction will include sustainable building methods and energy efficiency asindicated above in items A through G. As the project sponsor I have read the CDLAC regulations Section 5230(k) and willprovide the necessary verification that the above items have been implemented as an attachment to the first AnnualCertification of Compliance.


Printed Name

Title

Date

❑ "As the licensed Project Airohitect, I certify* that the project will be designed Yo be iu compliance with items A throughG. Compliance with [his requirement will be demonstrated by submission of the energy perFormance cerCi6cate andappropriate third party verification to CDLAC as an attachment to the first Certification of Compliance."*Please see a definition for "certifd' by Licensed Architect in California Business and Professions Code Division 3 Chapter3_ Article 3 55536.26.


Printed Name

Company Name

42Competitive QRRP ~;;~,,;,,-'^~ '. ~,^.,'rPr000sed 1121 2017

Company Address

Company Phone Number

Date

❑ "I am aware that the project sponsor is receiving sustainable building points as specified above in items A through G. As

the project sponsor I have read the CDLAC regulaCions SecCion 5230(k) (11) through (12) and will assist in providing the

evidenoe of compliance as required with the first Annual Certification of Compliance."

Signature of Applicants Senior Official or Desionee

, Printed Nance

Title

Date

43Competitive QRRP p~- ~~~' ~.~^;-~-r" Proposed 1 t 21 201'7


ATTACHMENT W-1

INFORMATION ON PROJECT SPONSOR(POST CLOSING OWNERSHIP)

The information provided in this form mast relate Co the Project Sponsor as defined in the CDLAC regulations,

Date &place formed:

PuYners comprising Proiect SponsorCorporate Name Corporate Address Role %Ownership Check if

NonprofitEntity

Partner #1 oho

Partner #2 0~0

Partner #3 0~~

Partner #4 oho

Names and titles of the individuals who are the principals or officers of Partner #1: Please provide an organizational chartof the entity.

Names and titles of the individuals who are the principals or officers of Partner #2: Please provide an organizational chartof the enfity.

Names and titles of the individuals who are the principals or officers of Partner #3: Please provide an organizational chartof the en8ty.


If applicable, please provide addiCional information that may be pertinent to this Application:

44Competitive QRRP n i, .a~,~,~n~ nm ~ Proposed 7 1 Z t 2017


..:ATTACHMENT W-2

COLLECTIVE EXPERIENCE OF PROJECT SPONSORAND ALL PARTNERS

(If different than Developer)

.General experience

Tax-exempt bondexperience

Total number of projects financed with tax-exempt bonds:

Total number of units financed with tax-exempt bonds:

Total number of California projects financed with tax-exempt bonds:

Total number of California units &nanced with taac-exempt bonds:

In the past 5 years, YOCaI number of projects financed with tas-exempt bonds:

In the past 5 years, total number of units financed with tax-exempt bonds:

In the past S years, total number of California projects financed with tax-exempt bonds:

In the past 5 years, total number of California units financed with tax-exempt bonds:

In the past 5 years, number of projects and number of units in California financed with tax-

exem tbonds:

TotaY number of yeazs of experience developinghehabilrta4ng multifamily rental housing:

Total number of projects developecUrehabilitated:

Total number of units developed/rehabilitated in above projects:

Total number of years of experience developing/rehabIlitating projects in California:

Total number of projects developed/rehabilitated in California:

Total number of units developedhehabilitated in California:

In the past 5 years, number oFprojects developed/rehabilitated:

In the pasa S years, number of units developed/rehabilitated in above projects:

Zn the past 5 years, number of projects developed/rehabilitated in California:

In tke past 5 years, number of units developedhehabilitated in California:

Indicate the total number of units that are currently under ownership oFDeveloper.

Indicate Che total number of units that are currently under management of Developer:

45Competitive QRRP ~Pronosed l i 21 2Q 17


ATTACHMENT W-3

INFORMATION ON PROJECT DEVELOPER

The information provided in this form must relate to the Project Developer identified in PART I, Item #9, of this Application.

Date &place formed:

Check annronriate business tune of the Pm;err nP~PI~„PrIndividual ❑ ;' Partnershi ❑ °` Governmental entity QCo oration ❑ ~: Non rofit entit ❑ „Joint Venture

Idenrifv the entities comorisine Project nevelnner.CorporaCe Name Corporate Address Role % Check if

Ownership NonprofitEntit

Partner #I o/

Partner #2 ova

Partner #3 0~0

PaRner #4

Names and titles of the individuals who are the principals or officers of Partner #1: Please provide an organizafional chartof the entity.

Names and titles of the individuals who are the principals or officers of Partner #2: Please provide an organizational chartof the enfity.

Names and titles of the individuals who are the principals or officers of Partrier #3: Please provide an organizational chartof the entity.


If applicable, please provide additional information that may be pertinent to this Application:

46Competitive QRRP n—:~-,~.~' ~;-~^-r;-Proposed ll 21 2017


ATTACHMENT W-4

EXPERIENCE OF PROJECT DEVELOPER

.General exaerience

Tax-exempt bond exuerience

Total number of years of experience developing/rehabilitating multifamily rental housing:

Total number of projects developedhehabilitated:

Tonal number of units developed/rehabilitaCed in above projects:

Total number of years of experience developing/rehabiliCating projecCs in California:

Total number of projects developed/rehabilitated in California: .

Total number of units developed/rehabilitated in California:

In the past S years, number of projects developed/rehabiliYaCed:

In the past 5 years, number of units developed/rehabilitated in above projects:

In the past 5 years, cumber of projects developed/rehabilitated in California:

In the past 5' years, number of units developedhehabiliCaYed in California:

Indicate the total number of units that are currently Under ownership of Developer:

Indicate the total number of units that are currently under management of Developer:

Total number of projects financed with tuc-exempt bonds:


Total cumber of California projecCs financed with tax-exempt bonds:

Total number of California units financed with tax-exempt bonds:

Zn the past S years, total number of projects financed with tas-exempt bonds:

!n the past 5 years, total number of units financed with tax-exempt bonds:


In the past S years, total number of California unite financed with tax-exempt bonds:

In the past 5 years, number of projects and number of units in California financed with tax-

exem t bonds:

47Competitive QRRP ~-m~' n~-~n' "?m"rProposed 11 21 2017


ATTACHMENT X

INFORMATION ON PROPOSED MANAGEMENT COMPANY

1. Name and business address of the management company(s) that will manage the proposed Project:

2. Length of time the Project Developer has done business with management company(s) identified above

3. Provide a brief desariprion of the experience level of the property management company:

48Competitive QRRP ~e-,~s2~n<o~' ~^,-,' Prouosed I7 2 t 2017


ATTACHMENT Z

INFORMATION ON CURRENT OWNER OF PROPERTY

1. Names) of Current Owner of Property:

Business Street Address

City:

State:

Zip code:

2. Names and titles of the individuals who are the principals of the entities composing the Current Owner of Property:

3. Whenrs sale or vansfer of property expected to close escrow?

49- CompetitiveQRRP "-`~."'',~. "'-mPironnsed ll 21 2017

THE CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE (CDLAC)

NON-COMPETITIVE

APPLICATION FOR AN ALLOCATION OF THE STATE CEILING ON QUALIFIED

PRIVATE AeTIVTI'Y BONDS FpR A QUALIFIED RESIDENTIAL RENTAL PROJECT

~Q~P)

ISSUER (Applicant):

PROJECT SPONSOR:

PROJECT NAM&

PROPOSED MEETING DATE:

FHA Forward Commitment. Request. . ❑Yes ❑ No

Scattered Site ❑Yes ❑ No

We, the undersigned, hereby make an Application to the California Debt Lunit Allocation Committee ("CDLAC") for the

purpose of providing rental housing as described herein.

We agree it is oiu' responsibility to provide CDLAC with one original and one duplicate copy of a complete Application,accompanied by a check made payable to fhe Committee in the amount of $1,200 and a completed Performance Depoeit

Certification Form. We understand that succinct answers providing the requested information are required. We understand

that if additional space-is required, each additional pa;e will be clearly labeled. We agree that it is also our aesponsibiliYy to

provide all information that is deemed by CDLAC to be necessuy to evaluate our Application. We understand that CDLAC

may verify the information provided and analyze materials submiTted as well as conduct its own investigation to evaluate the

Application. We recognize thaC we have a duty to inform CDLAC when any information in the Application or supplemental

materials is no longer true and to supply CDLAC with accurate information.

W e represent that we have read all Government Code sections ielevant to the CDLAC Regulations Implementing the

Allocation of the State Ceiling on Qualified Private Activity Bonds (`Regulations"). We acknowledge Chat CDLAC

recommends that we seek advice from bond counsel.

We acknowledge that all materials and requirements tie subject to change by enactment of federal or state legislation.

to carrying out tfie development and operation of the proposed project, we agree to comply with all applicable federal and

state laws regazding unlawful discrimination and will abide by all CDLAC program requirements.

1- Non-Competitive QRRP n~.:~~''n.-,ni oni~p~roposed 7121 2017

We acknowledge that our Application will be evaluated based on federal and state statutes and regulations pertaining toQualified Private Activity Bonds for Qualified Residential Rental Projects and the CDLAC Regalations, which identify theminimum requirements, evaluation criteria, priorities, and other standards Yhat will be employed Yo evaluate Applications.We acknowledge that the information submitted to CDLAC in this Application or supplemenCal thereto may be subject Eo thePublic Records AcC or other disclosure. We understand that CDLAC may make such information public afrer a final decisionby CDLAC has been made on the Application. CDLAC will maintain as confidential certain financial informarion, butcannot guarantee confidentiality.

The Project Sponsor declazes under penalty of perjury [hat the information conCained in the Application, exhibits,attachments, and any further ar supplemental documentation is true and correcC to the best of its knowledge and belie£ TheApplicanC declares that the information contained in PARTS I and II of Che Application is [rue and correct to the best of itsknowledge and belief, and as to irtfoanation conCained in the Application, exhibits, attachments, and further or supplementaldocumentation provided by the Project Sponsor, the Applicant is not aware of any infarmation that would cause theApplicant to believe that the Application contains any untrue information or omits to state any materia}information. Weunderstand that misrepresentation may result in the cancellation of an Allocation, and other actions which CDLAC isauthorized to take.

The Project Sponsor certifies that the projeot can be compleCed within the development budget and the development rimetab~eset foRh in our Appiicarion. The Project Sponsor further certifies that the proposed project can be operated in the mannerproposed within the operating budget set forth in the Application.

The Applicant cerCifies that if is in compliance with all applicable statutes, laws, rules, and regulations necessary for thetransaction of iCs business.

We agree to hold CDLAC, iCs members, officers, agents, and employees harniless from any matters arising out of or relatedto the awarded Allocation.

We acknowledge that all Application materials are to be submitted by 4:00 p.m. on the appropriate date.~rw~ r..i:r,..-..:,, n~w. r :,..:, n ii,,,,.,.: ~., r~,......

c.............~...,, rn ncoin

Signature of Applicant's Senior Official orDesignee

Print Name

Signature of Project Sponsor Officer

Print Name

Title Title

Date Date

Additional information maybe obtained by accessing the Committee's web site at hCCp://www.treasurer.ca.gov/cdlac/ or bycalling the Committee at (916) 653-3255.

2Non-Competitive QRRP ~;;~~' n~~-o-n~ n~ Proposed i 121 2017

1. Name of Applicant (Entity Issuing Bonds):

Mailing Address:City, State, Zip Code:

Federal Identification No.:

For mailing of official documents:

Name of Appficant's Senior Official Telephone #: ( )

Tifle of Senior Official: Far #: ( )E-mail

For questions concerning application:

Name of Applicant's Staff Contact Person: Telephone #: ( )

Titie of Contact Person: Fax #: ( )

Mailing Address E-mail:

........City, State, Zip Code:

For gaeestrons concerning compliance: _

Name of Applicants Staff Contact Person: Telephone #: ( )

Title of Contact Person:. Fax #:

Mailing Address E-mail

Cify, State, Zip Code:

2. Name of Bond Counsel Firm:

Name of Attorney: Telephone #: ( )

Mailing Address Fax #: ( )

City, State, Zip Code: E-mail

3. Name of Bond Underwriter Firm:

Name of Agent Telephone#: ( )

Mailing address: Fas #: ( )

City, State, Zip Code: E-mail•

4. Name of Financial Advisor Firm:

Name of Agent: Telephone #: ( )

Mailing Address: Fax #: ( )

Ciry, 3wCe, Zip Code: E-mail

5. Name of Private Placement Agent Fum (if applicable):

Name of Agent:. Telephone #: ( )

Mailing Address: Fax #: ( )

City, State, Zip Code: E-maiC

6. Name of Private Placement Purchaser #1 (if applicable):

Name of Agent:: Telephone #: ( )

Mailing Address: Fac #: ( )

3Non-Competieive QRRP m~3as'-o"~ n,~ -~-n„ Proposed 11 2 t 2017

City, State, Zip Code: E-mail

Name of Private Placement Purchaser #2 (if applicable):

Name of Agent: Telephone #: ( )Mailing Address Fas #: ( )City, State, Zip Code: E-mail:

7. Name of Credit Enhancement Provider (if applicable):

Name of Agent: Telephone #: ( )Mailing Address: F~ #: ( )City, SCate, Zip Code: E-mail:

8. Name ofProject Sponsor (Borrower entity):

Name of Senior OfFicer: Telephone #: ( )Tide of Senior Officer: Fax #: ( )Mailing Address: E-mail:City, SCate, Zip Code:

Name of ConCacC Person (if different from Senior Officer):Title of Contact Person: Telephone #: ( )

Fax #: ( )E-mail:

9. Name of Developer Firm

Name of Senior Officer. Telephone #: ( )Title of Senior Officer: Fat #: ( )Mailing Address E-mail:City, StaCe, Zip Code:


Title of Contact Person: Telephone #: ( )Fax #: ( )E-mail:

4Non-Competitive QRRP ~~wise~-06-9-1-~9~7-Proposed t 1 ? 12017

ALLOCATOlV INFORMATION

1. Amount o~tax-exempt bopd allocation requested: $

2. Date ofproject inducement:Submit a copy of the adopted inducement resolution labeled as Attachment A.. Applications submitted without thisdocumentation will be deemed incomplete. (See Section 5033(b)(5) of the CDLAC Regulations)

3. Date of TEFRA approvalSubmit proof of TEFRA (public approval process required by 26 U.S.C. Section147(~) labeled as Attachment B. (SeeSection 5033(b)(5) of the CDLAC Regulations)

For an open application process, see time lines posted on the Committee's web site.http://www. tceasLlrer.ca. gov/cdlac/

4. Have the Applicants (Issuer) Is-uance and Comoliancepolicres approved witivn the past ] 0 vears been submitted to

CDLAC?

n No. Please esplam.Yes. . .

BOND ISSUE INFORMATION

1. Indicate anticipated bond issuance date:

2. Indicate whether bonds will be sold as

a. -- a public offering with credit enhancement -

b. a private placement; or

c. a cash collateralized public offering

3. If a fixed rate, what is the fixed interest rate?

If bonds carry a variable rate:

Identify the index:

Identify the variable rate (or underwritten rate) aY Yime of application:

Is there a feature to allow a conversion to a fixed rate at some time in the future? Under what conditions and when?

4, AnticipaCed bond rating (SeeSections 5063, 5064 or 5065 of the CDLAC Regularions):

Ratin Date Rating Anticipated

Fitch

Moody's

Standard & Poor's

If the anticipated bond rating is BBB ar less or is unrated, does the Applicant favor an award requiring an Investment

Representation Letter or with minimum Denomination requirements?

5Nou-Competitive QRRP Asw~:~ Proposed ] 121 2017

5. Bond Sale Skiacture(See Sections 5061 or 5062 of the CDLAC Regulations)

Submit a brief description of the bond sale structure labeled as Attachment D. The description must include, at aminimum, the construcCion or interim financing, if applicable, the amount, closing deadlines, security/collateralprovided, investors, guaranties, conditions for closing, anticipated closing dace, etc. Also, submit proof of all firmcommihnent(s) tcom crediC enhancement providers) and private placement bond purchaser(s), labeled sequentially asAttachment D-1, D-2, eCc. For FHA financed projects not seeking a Forward Commitment, a HUD AcknowledgemenTLetter must be included with the Attachment D documents.

A. Indicate interim or construction period lender:

B. Indicate permanent Fnancing lender.

6. Prior Bond Default or Bazila~upCcy(See Section 5066 of the CDLAC Regulations.)

Project Sponsors and Bond Issuers may submiC an appeal for a waiver of the Bond Sale Structure restrictions associatedwith a prior Bond Default or bankruptcy in Attachment D. "Not Applicable, or "N/A" is not an acceptable answer to 6.Aand 6.B. Cf the answer is none, indicate "None".

A. Indicate any prior Bond Defaults or banlmzptcies on behalf of a Project Sponsor or Borrower within the last 3 years:

B. Indicate any prior Bond Defaults in the last 5 yeazs on behalf of the Bond Issuer/Applicant:

Z Redevelopment Agency Funding

Are there any direct or indirect committed public funds related [o Redevelopment Agency resources in existence prior tothe dissolution of Redevelopment Agencies on Febmary 1, 2012?

❑ No

❑ Yes. Provide the below inforrnation:

RDA Assistant Approval Date:Tax Increment Year:AmountCash-On-Hand (answer Yes or No):On RDA Obligation LisC (answer Yes ar No):Department of Finance Dace of Enforceable RDA Obligation List:Successor Entity Committed Date:Current Status of Project (Pending OversighC Boazds Issues of DOF issues, etc.):

Has a final Letter of Determination or an approved Housing Asset Transfer List (if applicable) been obtained?❑ Yes ❑ No

8. Seller Carryback Loan ❑Yes ❑ No

If yes, what is the term; interest rate, and repayment schedale?

6Non-Competitive QRRP ?~,;~a~-~-~-~-rProno,ecl 1 121 2017

PROJECT FINANCING INFORMATION

I. Sources —Construction FdnancineSubmit an itemized breakdown of the complete sources of construction financing,including but not limited Co thefollowing items, labeled as Attachment E-1: Tax-Exempt Bond Proceeds, Ta~cable Debt Proceeds, Developer Equity,I,ow Income Housing Tax Credit Equity, Direct &Indirect Public Funds and Seller Carryback Note. Please itemize allliens to be included in the proposed financing.

2. Sources and Uses —Permanent FinancingComplete Attachment E-2 or complete and submit TCAC's Form in Section N: Sources and Uses Budget: Part I :Sources and Uses Budget or compazable documentation as AttachmenC E4. Please itemize all liens to be included inthe proposed financing and provide a list of all liens to be paid off at closing as Attachment E-3.

3. Use of 4%Low Income Housing Tax CreditsIf applicable, please respond.

Date when application wi11 be made to the California Tax CrediC AllocationCommittee (TCAC):

4. Leveraeine Point Cate¢ory(See Section 5230(h) of the CDLAC Regulations.)Projects will earn points for committed public funds and taxable debt financing that are part of the permanent financingof the proposed Project. Submit CDLAC foam, Attachment F, that provides a breakdown of the amount and type ofdirect and indirect public funds and the amount and source of taxable debt. In order to receive points for the committedpublic funds, submit proof of the commiCment~s from the applicable sources. In order to receive points for Caxable debtfinancing that 1s in the Porm of conventional loans, list lenders in the space provided on Attachment F and submiC proofof the commitments from the applicable sources. The commitments for public funds and taxable debt, other than taxablebonds, are to be labeled sequenrially as Attachment F-1, F-2, eCe., as needed.

5. RelocationApplicants proposing the rehabilitation or demolition of occupied housing shall include the cost of any tenant relocationin Attachment E-2 and provide a detailed description of the relocation plan, labeled as Attachment G, Gl or G2.

6. Estimated oer unit cost (~teE including Manager's Unitsl' $An application requesring ailocatlon with total project costs that appear to be high for the geographic area in which theproject is locaCed will be requesCed to provide an explanation for why costs are high and demonstrate that such costs azejustified. Submit the high cost explanarion as Attachment G-1.(See Section 5194 of the CDLAC Regulations.)

Z Itemized Hazd ConsWction Costs

Submit an itemized breakdown of hard construction costs, labeled as Attachment A or A-1. Hazd ConstmctionlRehabiliCation vests shall consist of structure costs only.

8. Capital Needs Assessment(See Section 5212 of the CDLAC Regulations.)

Projects involving the rehabilitation of existing buildings must submit a Capital Needs Assessment performed no moreChan 180-days prior to application deadline, labeled as Attachment A-2. The Capital Needs Assessment shall not applyif the project received an Allocation within the past five years and these requirements were met in the originalapplicaCioa Please indicate "Not Applicable" if a Capital Needs AssessmenC is not required.

9. Allocation per Restricted Rental Unit: $(See Section 5231(d) of the CDLAC Regularions.)

If two or more Applications receive the same total number of points, the Applications will be ranked according to thelowest amount of requested Allocation per RestricCed Rental Unit.

10. Debt Service Coveraee Ratio

Non-Competitive QRRP o..,.:....., n~n~ om~ pi.~p~sed 1 121 2017

Complete the following information relating to the Debt Service Coverage Ratio contained in the commitment for credit

enhancement or private placementpurchase of bonds, using annualized pro-forma figures:

a. Potential Gross Income $

b. Less Vacancy Rate %* -$

c. Effectrve Gross Income (a minus b) ~d. Less Operating Eacpenses (include Operating &

Re lacement Reserves) -$

e. Net O eratin Income (c minus d) $

£ Principal plus Interest (Debt Service) $

g. Debt Service Coverage (e divided b ~** $

*Use mazkeE area vacancy rate or appraised vacancy rate, but in no event use less than 5%..If lessihan 5% is being used,

please provide a written explanation as to the reason below.

**Cannot be less tha~i 1.15 te-~ pursuant Yo Secho~ 5193 of the CDLAC Regulations except foc FHAIHUD projects,

RHS projects or projects f'manced by the California Housing Finance Agency.

Submit CDLAC form, Attachment I that provides an itemized breakdown of the Operating Expenses.

11. Federal BondElection20% at 50%Area Median Income...

❑ 40% at 60%o Area Median Income

9Noo-CompeeiCive QRRP "m-`-~".;-~^'r?-Proposed 1 121 2017

1. Project Name:

2. Project Street Address:City:County:Zip Code:

[The zip code must be included. If the project site does not yet have a street address, contact the local UnitedStates PosC Office for an approximate zip code.]

3. Legislative Districts and Census Tract

8. Federal Congressional District in which the proposed Project is located:

b. State Senate District in which the proposed Project is located:

a State Assembly DisCrict in which the proposed Project is located:

d. Census Tract in which the proposed Project is located:

4. Prior Tax-Exempt Allocation Awazd

YES NO

Has the proposed Project received a CDLAC allocation in the past`? ❑ II

Was the allocation used to issue the bonds for the project?

Have bond proceeds been used or drawn down? II IIIf "YES", submit a narrative explanation of the circumstances surrounding the prior allocation and whyadditional allocation is being requested. The nasative must include the amount of the previous allocation,the month and year it was awarded, the CDLAC resolution number, the status of the bonds, the balance ofbond proceeds, and a jusk&cation for the additional allocation. The nasative must be labeled as AttachmentJ.

10Non-Competitive QRRP ~~~;;a-' ~^' ~ Proposed 17 21 2U 17

S. Project Type and Characteristics

Submit a na~ative description flf the proposed Project, labeled as Attachment K. The description must conCain, at aminimum; the following details: l) the number of acres of the site {include topography and special features), 2) adescription of the surrounding neighborhood, 3) 4he targeted population for the pro}ecC (i.e., large families, seniors, eCc.),4) the expected starC and complerion date of consiruction/rehabilitation, 5) physical features of the project (i.e.,description of buildings, grounds,project ameniCies, etc.), 6) unit configuration, 7) unit amenities, 8) scope ofrehabiliCation work, and 9) if applicable, a description of other unique features of the project.

Respond by checking as many items as are applicable to the proposed Project.

Project T e and Characeerisrics Check herea. TheProject has an existing HAP contract Please attach existing contract as AttachmentL, L-1, L-2, etc:

The proposed Project is a Federally Assisted At-Risk Project as defined in Section 5170 ofthe CDLAC RegulaCions.

The proposed Project is a L,ow Income Housing Tax Credit Resyndica[ion Project.

b. The proposed Project Is a Mixed Income Project as defined in Section 5000 of the CDLAC ❑Re ulations.

a The proposedPxoject is aRural Project as defined in Section 5000 of the CDLAC QRegulations. DO NOT CHECK if item "b", above, has been checked.

d. The proposed Project is an Acquisition &Rehabilitation Project.

e. The proposed ProjecC is a New Constructson Projector Adaptive Reuse as defined in Section 05170. of the CDLAC Regulations.

£ The proposed Project is a single room occupancy (SRO) rental project.

g. The proposed Project is a senior citizens rental project.

h. The proposed Project is an assisted living rental project.

i. Theproposed Project is a special nNeeds housing rental project.

11Non-CompetitiveQRRP n~~'~~a ~~r„-", ~^„' Proposed 1 121 2017

1. Complete the following tables. Scattered site projects must complete the following Tables 1 and 2 for the project as a

whole and also submit a separate Table 1 and 2 for each location as Attachment C, C-1, etc. The inforutation provided

in the tables must be consistent with a market study completed pursuant to Section 5200 (a) of the CDLAC Regulations

(as applicable), with the responses to Items 9, 10 and 11, which follow, and between ffie two tables. If the rent shown in

column "d" of Table 1 will be subsidized, provide a brief explanation of the subsidy in the blank space below. If

PoCential Gross Income is significantly higher than Monthly Gross Rent, then CDLAC may ask the applicant to identify

other sources of Potential Gross Income to ascertain Yhat these other sources are allowed.

Table 1.

~a) @) ~~) ~d) fie) ~~ ~S) ~h) ~~) U)# of Unit # of Total sq.ft. Proposed Proposed Proposed Monthly Montht % of Area

Bdrms/ Size Units per unit Monthly 1VTonthly Monthly Income Utility y Gross Median

# of (sq.ftJ type (ti x Tenant- Rental per Unit Allowance Rent Income.

Bathrm c) Paid Rent Subsidy per (excluding (e+h) Based on

s per Unit Unit utilities) (e+~ Monthly

excluding Gross Rent

utilities

Restricted Rental Units

$ $ $ $

~ ~ ~ $ ~ °/u

~ ~ ~ ~ °~u

T~Tt~.

Annualized Total Rental Income (SUM(c x g)) x 12 $

Projects currenfly subject to Hold Harmless Rents pursuant to the 2008 Federal Housing and Econonvc Recovery AcY may continue

to use Hold Harmless Rents in Column (d) of Table 1 when rents are below federal set-aside limits and applicable state

requirements.

Is your project currently subject to Hold Hannless Rents? ❑Yes ❑ No

If"Yes" what yeaz was your project placed in service`1

Market Rate Units

(a) (b) (c) (d) (e)

# of Bedrooms Unit sq.ft. # of Units Proposed Monthly Tenan[- Paid Total Proposed MonthlyRenr per Unit (excl. uei~t~es) Tenant-Paid Rent (c x d)

$ $

$ $

$ $

Total # sq.fY. Annualized Total Renial $

of Units Income (SUM (e))

SUM bxc

12Nun-Competitive QRRP "~-=~~'~^ -P.-` ^' ^'f'.-Proposed 1 121 2017

Mana ers' Units ❑Restricted ❑Market Rate

(a) (~) (c) (d) (e)

# of Bedrooms Unit sq.ft. # of Units Proposed Monthly Mgr- Total Proposed Monthly Mgr-

Paid Rent per UniC Paid Rent (c x d)

$ ~

$ $

$ $

Total-# sq.fr. of Annualized Total Rental $

Mgr Units Inwme (SUM (e))(SUM (b x c))

Table 2.

(a) (b7 _ (~) (d) (e) (fl (g) (h) (i)Total No. of Total Na sPercent of No. of i Percent of No. of Percent of No. of Percent of

Units 'of Total Units at or Units at or Units Units Restricted Restricted

(excluding Restricted Restricted below 50% below 50% above above 50% ' Rental' Rental Units

Mgr. Units) Units Units AMI AMI 50% to to 60% Units with with3 or

(b : a) (d : a) 60%AMI I AMI 3 ormore more(f : a) Bdrms. Bdrms.

h-b

°/a

~.:SItO COri[TOI(See Section 5190(a) of the CDLAC Regulations)

A current title report (completed no more khan 90 days prior to application), labeled as AttachmeniM, shall be

submitted with all applications for the purposes of this threshold;requirement. As a condition of meeting this

minimum requirement, khe Project Sponsor must submit evidence of site control demonsCrating its readiness to use the

allocation..Applications not meering this minimum requirement will be deemed incomplete. The,evidence of site

control must take at least one of the following forms. Evidence that is in addition Yo the mandatory tifle report must be

labeled as Attachment M-1, bz-2, etc.

Respond by checking as many forms as aze applicable to the proposed Project.

Form of Evidence Check here

The Applicant or Project Sponsor holds fee title as evidenced by the title report,

An executed tease agreement or lease option for the length of time the Project will be;regulated

under this program between the Project Sponsor and the owner of the subjectproperty. ❑

An executed disposition and development agreement between the Project Sponsor and a publm

a ency. ❑

A valid, current, enforceable contingent purchase and sale agreement or option agreement

between the Project Sponsor and the owner of the subject property, including evidence that all

extensions necessary Yo keep agreement current through the date of the award of allocaCion have ❑

been executed.Valid, current and enforceable purchase and sale agreements, conCingentpurchase sale or option

agreements in combination between the Project Sponsor, a third party and the owner of the

subject property such that the Committee can deternune that upon a grant of Allocation the

Project S onsor has a ri ht to ac uire the subject ro erry.

13Non-CompetiCive QRRP n~-:~~'~~ "'-~^^,'=' Proposed I t 2t 2017

DocumentaCion from a local agency demonstrating its intention to acquire the site, or a portion ofthe site, through eminent domain proceedings. (In this instance, the CDLAC ExecuCive Directorhas sole discretion to determine whether such documentation clearly demonstraCes site control.) ❑

8. Local Approvals and Zoning(See Section 5190(b) of the CDLAC Regulations.)

The project Sponsor shall provide evidence, no later fihan the application due date'for the allocarion round in which theproject is seeking an allocation, Chat the site is zoned for the Project, as proposed, and that all applicable local land useapprovals that are subject to the discretion of local elected officials have been obtained. Additionally, if any land useapproval is subject to public appeal, within no less than 5 calendar days prior to the first public posting of theCommittee, the applicant must provide proof that wither no appeals were received, or that any appeals received duringthat time period were resolved and the projecC is ready to proceed. Examples of such approvals include, but are notlimited to, general plan amendments, r~zonings, and conditional use permits, but do not include design reviewapprovals. The evidence of discretionazy local approvals and zoning must be labeled as Attachment N or N-1, N-2, etc.and cake at least one of the foliowiug forms.

Respond by checking as many forms as are applicable to the proposed Project.

Form of Evidence Check hereCDLAC Zoning and Local Approval Verification Form bearing the signature of a local planningagenc representative.Letter from a local planning ofScial that verifies all of the information requested by the CDLACZonin and Local A royal VerificaCion Form..Documentation from a local agency that clearly demonstrates the agency's intentions to acquirethe Project site, or a orfion of the Pro'ect site, through eminent domain roceedings.

9. Income Restriction(See Section 5191 and Section 5192 of the CDLAC Regulations.)

Minimum RequirementA minimum of ten percent (10%) of [he units in a Qualified Residential Rental Project must have Gross Rents that arerestricCed to households with incomes no greater than fifty percent (50%) of the Area Median Income (AMI). All of therent restricted units that meet this requirement, with the exception of Mixed Income Pool projects and units located onthe upper level floors of high-rise developments, shall be generally distributed in terms of locapon and number ofbedrooms throughout the project. All such units shall be of comparable quality and offer a range of sizes and number ofbedrooms comparable to those units that aze available to ocher tenants.

For federally assisted at-risk projects and 4%low income housing tax credit projecCs, this shall mean Chat the Projectunits must have Gross Rents that are restricted Co houveholds whose incomes must be 50% or less of the AMI; or GrossRents that are restricted to households whose incomes must be 60% or lees of the AML (Consult Section 5170 of theCDLAC Regulations for the definition of "Gross Rents".) ApplicaCions not meeting this minimum requirement will bedeemed incomplete. Complete the tables in Item #6 of this PART III. The percentage in column "e" and "g" of Table 2will be used to determvie if the Project meets this minimum requirement.

If the Project is to be substanrially retrofiCted for energy conservation or wi11 be newly constructed with subsCantialenergy conservation, utility allowances based upon the lower uCiliYy cost projected afrer construction or retrofit may besubmiCted. Such lower utility allowances must be validated by a public utility letter or public housing authority letter,which provides estimates thaC are adjusted for significant energy conservation sources.

Exceedine the Minimum Income Restrictions PoinT Cate ory (Beckon 5230(e) of the CDLAC Resulalionsl(35 points maximum for non-Mixed Income Projeots and IS points maximum for Mixed Income Projects)

Projects will cam points For the percentage of units that ara reshicted ro household incomes at or below 50% of the AMIand between 51 %and 60% of the AMI. Federally assisted at-risk projects and 4%low income housing ta~c credit projectwill earn points for the percentage of units tha# have Gross Rents restricted to household incomes at or below 50% of theAMI and between S 1 %and 60% of [he AML The percentages in columns "e" and "g" of Table 2 in Item #6 of thisPART III will be used [o determine the points earned in this category.

10. Gross Rents Point Category (Section 5230(d) of the CDLAC Regulafions)

14Non-Competitive QRRP ~~:~a n< no-w-~;-~-om ~ proposed I 1 2I 2017

All projects that are subject to the use of Gross Rents will eam 5 points in this category. All proposed projects that aze

not subject to the use of Gxoss Rents but voluntarily do so will earn 5 points in this category.

Evidence of utility allowances shall be satisfied with a leetex from the local housing authority that includes:

a. A certification that the proposed Project is located within its jurisdiction. (ref: IRS f final RegulaCions T.D. 8520)

b. A current utility allowance schedule.

c. An itemization of which components of the utility allowance schedule apply to the Project..

The documentation evidencing a utility allowance must be labeled Attachment O, or if more Than one document, as O-

1, O-2, eta In addarion, oolumns "s"', "f' and `g" of Table 1 in Stem #6 of this PART III will be used to determine if

points -aze earned in this category.

11. Large Family Units Point CaCegory (Secrion 5230(8) of the CDLAC Regulations)

Projects where at least 25% of the Restricted Rental Units aze three-bedroom or larger units will eam points. The

percentage in column "i" of Table 2 in Stem #b of this PART III will be used to determine the points earned in this

category..

12. Market Study (Sections 5200 and 5250. of the CDLAC Regulations)

All Qualified Residential Rental Project applicants aze required to submit a markeC study; labeled as Attachment P, as

required by Section 5200 of the CDLAC Regulations. The market study must be prepazed by an independent third pazty

'having no identity of interest with the developments partners, intended partners, or general contractor and must be

submitted with the. Application. Scattered Site projects must also meet the requirements of Section 5250 of the CDLAC

Regulations. Mazket studies for projects subject to SecSion 5200(a) of the CDLAC Regulations must be prepared within

180 days of theapplication filing deadline and include a 12 page summary of its findings, particularly with regard to

comparable rental properties.

AcquisitionlRehabilitation projects subject to an existing Residential Rental Regulatory Agreement or a federal, state, or

local operating or rental assSstance agreement, and meeting the requirements of Section 5200(e)(1) ox (2), may submit a

market swdy meeting Che zequirements of Section 5200(e) of the CDLAC Regulations.

ForprojecTs submitCing a market study meeting the requirements of.Section 5200(a) oFthe GDLACRegulations, the

market study will be used Co deterrnine compliance with the minimum rent restriction requirement that restricted rents

must be at Ieast 10%below market rents (Section 5191(b) of the CDLAC Regulations). Please read the CDLAC

Regulations posted on the Committee's web site. Note: The unit rents and square footages of the subject property

used throughout theMarket~tudy, including all Rent Comparison matrices, must be consistent with Che same

information shown in Table 1 in this application.

13. Rent Restrictions

,Minimum Requirement {Section 5191(b) of the CDLAC Reeulations) ~.

Except for Acyuisition/Rehabilitation projects eligible to submit a,market study meeting the requirements of Seceion

5200(e) of the CDLAC Regulations, the proposed Cenantpazd rents for each tax-exempt bond unit type in the proposed

development will be at least ten percent (10%) below rents for the same unit t}pes in the comparable market rate rental

properties, as demonstrated by the market study (Attachment P) and the mazket study's Rent Comparability Matrix,

labeled as Attachment R. The information in columns "c", °d", and "e" of Table I in Item #6 of this PART III must

show the same proposed rents as the market swdy and will be used to determine if the Project meets this minimum

requirement. Acquisition/Rehabilitationprojects submitting a market stixdy pursuant to Section 5200(e) of the CDLAC

,'.Regulations are not required to submit Rent Compazabiliry Matrices unless the Project is seeking points for exceeding

minimum income xesuictions pursuant to Section 5230(e) of the CDLAC Regulations.

Exceedin¢ the Minimum Rent Resh'iction Point Cateeo (Section 5230(el of the CDLAC Reeulations)

Projects will earn points when the Restricted Rents for each tat-exempt bond unit types aze at least 20%below the

maiket rents for the same unit types, as demonstrated by the mazket study (Attachment P) and the market study's Rent

Comparability MaCrix (Attachment R). Preservation Projects that receive points for average rents that are at least 20%

below mazket rents are not eligible for the points described in this point caCegory. The information in columns "d', "d",

and "e" of Table 1 in Item #6 of this PART III must show the same proposed rents as the mazket study and wilt be used

to determine the points earned in this caCegory. Acquisition/RehabiliCationprojects submitting a market study pursuant to

15Non-Competitive QRRP ~n~'' n< ~~"1°r" Proposed t 1 21 2U 17

Section 5200(e) of the CDLAC Regulations that aze also seeking points for exceeding minimum income restrictionsmust submit a Rent Comparability Matrix for each restricted rental unit type.

Preservation Proiects Podnt Cateeory (Section 5230(bl of the CDLAC Re ulationsl

20 points maximum. Projects meeting the following criteria shall receive the following points:

SO points. A project subject to a residential rental regulatory agreement or a local, state or federalrental or operating assistance contract; or a project subject to an expired residential rentalagreement that continues the rental shucture prescribed by the expired residential rentalagreemenC, as demonstrated by a copy of the executed agreement or contract, shall receive ten(10) points.

10 addiCional points. A Project eligible for points under Section 5230(b)(1) of the CDLACRegulations shall receive an additional ten (10) points if it receives state or federal rentalassisCance or a state, federal, or local operaCing subsidy and, as a result, the rents are limited in ar ❑feast fifty percent (50%) of the project's tenant units to no more than thirty percent (30%) of eachsucfi units tenants' income, as demonstrated by a copy of the executed agreement or contract.

10 additional points. A Project eligble for points under subdivision Section 5230(b)(1) of theCDLAC Regulations shall receive an additional ten (10) points if it has income restricted tenantpaid rents for each Restricted RenCal Unit type Yhat on average are at least Ywenry percent (20%) ❑below rents for the same unit types in coihparable market rate rental properties, as demonstratedin a market study meeCing the requirements of section 5200(e), attached as Attachment P, and ina Rent Comparability Matrix, attached as ACtachment R, utilizing three (3) market comparableproperties for each restricted unit type in the Project. The information ui columns "c", "d", and"e'° of Table 1 in Item #6 of this PART III must show the same proposed rents as the market studyand table(s).

Supporting documentaCion for Preservation Project points shall be submitted as AttachmenC L, U 1, L-2, etc.

Submit ascaled-for-distance map, labeled as Attachment Q, showing [he location of the proposed Project and thecomparable market rental properties. The map must be legible and must clearly show the proposed Project at the centerof a circle with a 1-mile radius.

14. Term of Income and Reny Restrictions (Section 5192 of the CDLAC Regulations)

Minimum Term of RestrictionsThe Qualified Project Period for the Project must be for at' least 30 years. Projects that maintain the Qualified ProjectPeriod for longer Chan thirty (30) yeazs will be awarded two (2) points for every five (5) years of affordability beyondthirty (30) years up Co fifty-five (55) years. Consult the CDLAC Procedures for the definition oPa Qualified ProjectPeriod. Applications not meeting this minimum requirement will be deemed incomplete.

Proposed Term of Restrictions.

I5. Community Revitalization Criteria (Section 5230(1) of the CDLAC Regulations)

5 points. Projects located in a CominuniYy Revitalization azea will qualify for five (5) points provided Che following issubmitted with Che application as Attachment S, S-1, eCe.:

(I) documentation showing that the Project is1wi11 be located in at least one of the following areas:

Characteristics of a Community Revitalization Area Check hereAny Qualified Census TracE or equivalent geographic area defined by the Census Bureauin which at least fifty pucent (50%) of the households have ao income of less than sixty ❑percent (60%) AMI

A Federal Promise Zone as defined in Section 5170 of the CDLAC Re ulations

16Non-Competitive QRRP nx.~:s~' ~,-w-^P,-~-r' ^^' °proposed 71 21 2017

(2) a leCter From a local government official demonstrating that the development will contribute to a concerted

Community Revitalization Plan and that delineates the community revifalizaEion efforts, including but not limited to:

(a) communiCy enhancement services in Che neighborhood, inchzding but not limited to, job training or after-school

enrichment programs;

(b) funds, not including funds for the proposed Projeck, that have been expended in the past three (3) years, that arebeing expended or that are committed to be expended to improve dte community infrastmcture; incl¢ding buE notlimited to, parks, storm water systems, sewer systems, or street improvements of the overall area;

(c) projects, including but not limited to, retail, office and housing that contributes to community revitalizaeion thaChave been completed within the past three (3) years, are underway or aze committed to be completed; and

(d) how theproject would contribute to the community's revitalization.

16. Site Ameniftes Point Category (Section 5230(j)(2) of the CDLAC Regulations)

10 points maximum. The Project Sponsor must certify on dttachment T as to the amenities that aze applicable to

the proposed Projeck A projecC may earn the following points for each amenity that is properly documented andcertified to be a licable to the ro osed Project.

Amenit Check here

A. Z.5 points for one of the following:

The proposed Project is located within:.

(I) one-Chixd (I/3) mile of a Public Transit Corridor a transit station, raiistation, Qcommuter rail station, bus station or bus stop; or

(2} one-half (192) mile of a High Quality Transit atop or station; or ❑

(3) the proposed Project is a Rural Project as defined in Section 5000 of theCDLAC Regulations and is using a van or dial-a-ride service due to the lack ❑

of a public transportation system available in that Rural Area.

B. Projects eligib}e for Transit Corridor, High Quality Transit or van/dial-a-rideservice points under Section 5230{j)(2)(A)(1) ox (2) will receive addirionatpointsfox committing to provide to residents monthly passes for the transit amenity forwhich the project received points aY no cost or priced at no more Phan half of retailcost. Passes shall be made available on a first come, first-served basis Yo all tenantsofrent-restricted units for at least 15 years:

(1) 3 points for at least one pass per rent-resfficted unit; or ❑

(2) 1.5 points for at least one pass per each 2Rent-Restricted unity ❑

C: 2.5 points. ❑

The proposed Project is located within Yz mile of apazk or recreational facility.

A 2.5 points for one of the following:

The proposed Project is located within close proximity o€groceries and other

essential shopping needs. (Grocery means a full service store oc supermarket that

provides food staples; fresh meats,poultry, dairy products; and produce; as well as

other personal and household products. For CDLAC purposes, convenience stores

and mini-marts/markets are not considered full service stores or supermarkets).

Selec[ one of the following:

17o_. :,.,,a n< m om a 7- Non-Competitive QRRP ter,-Proposed 1 121 _017

1. The proposed Project is within %mile of a full scale grocery store/supermazket ofat least 25,000 gross interior square feet For Rural Projects, within 1 mile. ❑

2. The proposed Project is within % mile of a neighborhood market of at least 5,000gross interior feet. For Rural Projects, wiChin %x mil€.

E. 2.5 points for one of the following: -

The proposed ProjecC is located within close proximity ofpublic schools (K-12grades), (proposed projects that are restricted to residents 55 years or older shall noCbe eligible for points under this criterion).

1. Within'/< mile of a public elementary school; %x mile of a public middleschool, or 1 mile of a public high school that children living in thedevelopment may attend and that the site is within the attendance azea of Chatschool. ❑

2. For Rural Projects, an additional'/z mile for each public school type fihatchildren living in [he development may aCtend and that the site is within theatCendance area of that school.


The proposed Project is located witliin:(i) 1/2 mile (for Rural set-aside projects, 1 mile) of a medical clinic:

(I) that has a physician, physician's assistant, or nurse practitioner onsiCefor a minimum of GO hours each week, and(II) that accepts Medi-Cal and Medicare payments, or Health Care forthe Homeless for projects housing homeless populations, or that has anequally comprehensive subsidy program for low-income patients; or

(ii) 1 mile (for Rwal set-aside projecCs, 1 %x miles) of a hospital (not merely aprivate doctor's office); or(iii) 1/2 mile (far Rural projects, 1 mile) of apharmacy.

G. 2.5 points. The proposed Project is located within %mile of a public library Q

H. 2S points. The proposed Project will provide high speed intemet or wireless"WiFi" service connection Yo each unit. Service will be available by the placed inservice date. High speed Internet service, with a minimum average download speed ❑of 768 kilobits/second must be made available to each unit for a minimum of 15years, free of charge to the tenants, and available at the time of the project's placed-dn~ervice date.

To eam points in this caCegory, the amenity must already exist, with the following exception: Applicants requesringpoints for site amenities thaC do not currently exist must include a letter from Che controlling entity, signed by anauthorized individual representing the entity, that states the firnds for the amenity are committed, and the amenity isplanned. Future WfFi service is excluded from the letter requirement. In {he case of a bus stop that does notcurrently exist, points will be awarded where it is shown that the bus provider and municipality have agreed on andapproved the site for the stop and it will be in existence no later than two years after the development is placed inservice. The Project Sponsor must complete Attachment T and provide the required evidence specified inAttachment T.

17. Service Amenities Point Category (Section 5230(1) of the CDLAC Regulations)

10 points maximum. The Project Sponsor mast complete Che certification in Attachment U as to the amenities thatare applicable to the proposed Project. A project may earn 5 points, up to a maximum of 10 points, for each amenitythat is properly documented and certified to be applicable to the proposed Project.

18Non-Competitive QRRP n:;.:,:,~ °~ ~: ~"~;-' Proposed 1 121 2017

Service amenities must be appropriate to the tenanC population served and committed to for a minimum of 15 years.

Programs must be of a regular, ongoing nature and provided to tenants free of charge, except for day caze services.

Services must be designed to generate positive changes in the lives of tenants, such as increasing tenant knowledge

of and access to available services, helping tenants maintain stability and prevent eviction, building life skills,

increasing household income and assets, increasing health and well-being, or improving the educational success of

children and youth. Services must be provided on-site except that Projects may use off-site services within 1/2 mile

(i %z miles for Rura] projects) of the development provided that they have a written agreement with the service

provider at the Yime of Application enabling the development's tenants to use the services free of chazge (except For

day care and any chazges required by law) and that demonstrate that provision of on-site services would be

duplicative. Referral services will not be eligible for points. Contracts with service providers, service provider

experience, and evidence that physical space will be provided on- of off-site must be documented within the

application. ProjecCs may use off-site services locaCed more than one-half (`/z) mile from the Project (one and one-

half (I %z) miles for Rural projects) provided that they additionally submit a written agreement demonstrating Chat

tenanCs will be provided with free of charge round-trip transportation between the development and flie off-site

services. Documentation must be provided for each category of services for which the applicant is claiming service

amenity points and must state the name and address of the organization or entity that will provide the services;

describe the services to be provided; staCe aanual value of the services; commit Lhat services will be provided for a

period of aC least one (I) year; name the projec4 to which the services are being committed. Evidence shall take the

form of a contract for services, Memorandum of Understanding (MOU), or commitment letter on agency letterhead.

Services delivered by the on-site Property Manager of other property management staff will not be eligible f'or

points under any category. All organizations providing services for which the pro}ect is claiming points must

document that they have at least 24 months of experienceproviding services to the projects target population.

Experience of individuals may not be substituted for organizational experience.

The application muse propose a combined annual value of aY least $10,000, or $5,000 for Projects of 20 units or

fewer, for those services In addition, any donated services must be assigned a dollar value by the provider of those

services. All anticipated income and expenses associated with the Projects service amenities programs) shall be

included in Attachment I.

Amenity Check here

A. Five (5) points will b~ awarded to Family Projects with after. school programs of an

ongoing nature. The programs shall include, but aze not limiCed to: futonng ❑

mentoring, homework club, and arC and recreation activities. The prograws shall be

rovided weekda s throu hout the school year for at least lO hours er week.

B. Five (5) poinCs will be awarded to Projects wiCh instructor-led educational, health and

wellness, or skill building classes. The classes shall include, but aze not limited to: ❑

Snancial literacy, computer training, home-buyer education, GED, resume building,

ESL, nutrition, exercise, health information awareness; art, parenting, on-site food

cultivation and preparation and smoking bessation. The classes shall be provided at a

minimum of 84 hours per year (drop-in computer labs, monitoring ox technical

assistance shall not qualify).

C. Five (5}points will be awarded to Projects with licensed chiidcaze providing 20 hours

ormore per week (Monday through Friday) to residents of the development. Q

D. Five (5) poinCs wilt be awarded to Projects with health and wellness services and

programs. Such services and programs shall provide individualized support for ❑

tenants (not group classes) but need not be provided by licensed individuals or

orgapizauons. She services shall include, but are not limited to: visiting nurses

programs, inYergenera4ional visiting programs, and senior companion programs. The

services shall be provided at a minimum of 100 hours per year.

E. Five (5) poinCs will be awarded Co Projects with a bona fide service coordinatorlsocial

worker available provided that the experience of the coordinator, the duties of the Q

coordinator, and a budget to pay for the coordinator are included labeled as

Attachment U-1. The responsibilitiesmust include, but are not limited to: (a)

providing tenants with information about available services in the community, (b)

assisting tenants to access services through refesal and advocacy, and (c) organizing

community-building and/or enrichment activities for tenants (such as holiday events,

tenant council, etc.)

19Non-Competitive QRRP °~~ ~~^a-.F.,~`-^ °1.TPr000sed I 121 2017

18. Minimum Sustainable Building Standards (Section 5205 of the CDLAC Regulations)

The Applicant, Project Sponsor and the Project's Architect shall complete the certification in A[tachtnent V-1 that thefollowing minimum specifications will be incorporated into the projecC design for all new construction and rehabilitationprojects. The requirements of CDLAC Regulations Seddon 5205(a)(2) through (9) are offiy applicable when invesCment insuch elements is proposed in the Projects scope of work and/or the Capital lYeeds Assessment. Please note that if seekingtax credits, please consider CTCAC's workbook requirements when developing your CDLAC application. (Secrion 10325(fl(7)(A) of CTCAC regulations.)

A. All rehabilitation projects shall have improved energy efficiency above the modeled energy consumptionbased on existing conditions, with aY least a ten percent (] 0%) post-rehabilitaCion improvement overeicistmg conditions. Scattered-site rehabilitation projects shall also have at leasC a five percent (5"/0)improvement over existing conditions at each location.

B. Landscaping. A variety of plant and tree species that require low water use shall be provided in sufficienequantities based on landscaping pracrices in flee general market area and low maintenance needs. Projectsshall follow the requirements of Che State's Model Water EBicient Landscape Ordinance (Title 23,California Code of Regulations, Section 490 et seq.)

(http://www.water.ea.gov/wateruseefficieacy/]andseapeordinance/) unless a local landscape ordinance hasbeen detem~ined Co be at least as stringent as the current model ordinance.

C. Roofs. Roofing shall carry athree-year subcontractor guarantee and at least a 20-year manufacturer'swarranty.

D. Exterior Doors. Insulated or solid core, flush, paint or stain grade exterior doors shall be made oPmetalclad, hardwood faces, or fiberglass faces; with all six sides factory primed and subject to a standard one-year guarantee.

E. Appliances. Refrigerators, dishwashers, clothes washers and clothes dryers provided or replaced wiChin low-income units and/or in on-site community facilities shall be ENERGY STAR rated appliances unlesswaived by the Executive Director.


G. Water Heater. For units with individual tank-type water heaters, minimum capacities are to be 28 gallonsfor one-bedroom and two-bedroom units and 38 gallons for three-bedroom and larger units.

H. Floor Coverings. A hazd, water resistant, cleanable surface shall be required For all kitchen and bath areas.Carpeting shall comply with U.S. Department of Housing and Urban DevelopmenU Federal HousingAdministration UM44D.

I. Insulation. All fiberglass-based insulation shall meet the Greenguard Emission CriCeria for Children andSchools as required by the California Tax Credit Allocation Committee Title 4, Division 17, Chapter 1,Secfion 10325.

20Non-Com otitive RRP narisao oo~' _~^,-"p Q Proposed 1 I ~I X017

Compliance and Veriffcation: Projects that receive an award of low income housing tax credits. (LIHTC) shall submit

evidence of compliance to TCAC withthe Placed in Service Apphcation.Pcajects that receive a Qualified Residential Rental

Bond allocation, and do not receive a LIHTC awazd, shall submit evidence of compliance to CDLAC as an attachment to the

fast Certification of Compliance (the form of which is attached to the project resolution and which is required to be

submitted on March 1 of each year). For projects not yet placed in service, the information is due following receipt of the

verification, but in no event shall this documentation be submitted more than Ywo years after the issuance of bonds.

(1) The. project sponsor with rehabilitation projects must submit the California Energy Commission HERS II energy

consumption and analysis report which shows the pre- and post-rehabilitation HERS II estimated annual energy

use demonstrating the required improvement, in their placed-in-service package.

{2) The project sponsor shall submit third party documentation from one of the following sources confirming the

existence of items, measures, and/or project characteristics:o A certified HERS Ratero A certified GreenPoint Rater; oro A US Green Building Council CertiFication.

19. 10 points maumum. Sustainable Methods (Section 5230(k) of the CDLAC Regulations)

Sustainable Methods points will be awazded provided that the Project Sponsor and the licensed Project archiCect each submit

a cerCification indicating which items will be included in the. Project's design and, any relevant specifications.

To receive points for Sustainable Methods, the Project Sponsor and Architect must both sign the certification form

(Attachment V-2).

The gertifications shall attest tfiat the applicable deign elements described in this seclion will be included in the projecPs

.design and specifications andshall include the signature, xhe pirated name, the title of the person matting the certification

and the daze of signature. The signature of the Architect must indicate. the appropriate license xegistrakon number.

If your application is approved, compliance will be demonstrated by the submission of the appropriate thud party

verification documentation showing the project has met the requirements for the relevant program. Projects that receive

an award of low income housing tax credits (LIIITC) shall submit the third party verification to TCAC with the Placed

in Senice,Application. Projects that receive a Qualified Residential Rental Bond allocation, and do not receive a LIHTC

award; shall submit the third party verificarion to CDLAC as an aCtachment to the first Certification of Cpmpliance (the

form of whsch is atCached to the project resolution and which is required to be submitted on March 1 of each year). See

section 5230 of tYie CDLAC Regulations for specific thud party verification required for each sustainable building point

category.

20. 10 points. New Consrtuction, Adaptive Re-Use and Substantial Rehabilitation Projects (SecCion 5230(m) of Che CDLAC

Regulations).Points wilt be awarded to New Conshuction, Adaptive Re-Use and Su6stantiai Renovation projects.

Check here

New Constrnction ❑

Adaptive Re-Use ❑

Substantial Renovation ❑

21Non-Comperitive QRRP ~;:s~'~^` '~^" Proposed I 121 2017

PROJECT SPONSOR

Submit CDLAC form, Attachment W-1, that provides information pertaining to the Project Sponsor identified in PART I,Item #8, o~F Chis Application.

Submit CDLAC form, Attachment W-2, {hat provides information pertaining Co the experience of the Projec[ Sponsor (ifdifFerent than the Developer). The Project Sponsor's CTCAC Certificate of Previous Participation and a CTCAC Schedule Aform maybe submitted as Attachment W-2 in lieu of the CDLAC Form.

PROJECT DEVELOPER

Submit CDLAC form, Attachment R'-3, that provides information pertaining Co the Project Developer identified in PART I,Item #9, of this Application.

Submit CDLAC form, Attachment W-4, that provides infom~a6on pertaining to the experience of the Project Developer.The Project Developer's CTCAC Certificate of Previous Participation and a CTCAC Schedule A form maybe submitted asAttachmenC W-4 in lieu of the CDLAC form.

PROJECT SPONSOR AND DEVELOPER

Submit a list of California projects which the Developer and Project Sponsor (if different than the Developer) has developedor rehabilitated wiCh tax-exempt bond financing. The list shall include the cities and counties in which the projecCs arelocated. The list shall be labeled as Attachment W-5.

PROJECT MANAGEMENT COMPANY

Submit CDLAC form, Attachment X that provides information pertaining to the properCy management company that willmanage the proposed Project.

22Non-Competitive Q2RP ,.ti.;,~o-~-o,-~;-,-Proposed 1 12 ( 2017

1. Financial Viability

Disclose any legal or regulatory action or investigation that may have a material impact on the financial viability of the

project or the Project Sponsor and Developer. The disclosure should be limited to actions or investigations in which the

applicant or the applicanPs parent, subsidiary, or affiliate involved in the management, operation, or development of the

project has been named a party.

Response (Not Applicable is an unaceeptable response):

2..Fraud, Corruption, or Serious Harm

Disclose any legal or regulatory action or investigation involving fraud or corruption, or health and sa€ety where there aze

allegations of serious harm to employees, the public, or Che environment. The disclosure should be limited to acCions or

investigations in which the Project Sponsor and Developer or the Project Sponsor's and Developer's current board member

(except for volunteer board members of non-profit entities), partner, limited liability corporation member, senior officer, or

senior management personnel has been named a defendant within the past ten years

Response (Not Applicable is an unacceptableresponse):

Disclosures should include civil or criminal cases filed in state or federal court; civil or criminal investigations by local,

state, or federal Law enforcement authorities; and enforcement proceedings ar investigations by local, state or federal

regulatory agencies. The information provided must include relevant dates, the nature of the allegatton(s), charters,

complaint orfiling, and the outcome. For apublicly-traded company, the relevant sections of the company's IOK, SIB and

IOQ most recentlyfded with the Securities andEuhange Commission maybe attached in response to guestton #1. With

respect to a response for question #2; previous IOK, SK, and IOQ filings of the company racry be attached if applicable.

23- Non-Competitive QRRP n-•~ ~~'"` "' '^t°rPronosed I 12L 2017

If a separate sheet is used to respond to the following questions, the sheet shall be labeled Attachment Y.

24Non-Competitive QRRP ~F~ww~~1-86-91-2843-Proposed t 7 21 2017

QRRP APPLICATION DOCUMENTS CHECKLIST

Your annlication nackaee must contain the following:

Check Box Document Descri tion Attachment Name

$1,200 initial filing fee.(See Secrion 5054 of CDLAC Re ulationsJ

Signed Performance Deposit Certification Form.

(See Section 5050 of CDLAC Regulations)

Proof of Performance Deposit .

Completed and signed applicaCion form.

Adopted Inducement $esolµtion. A(See Section 5033(b)(4) CDLAC Regulations.)

Evidence of TEFRA processand noticing. B(See Section 5033(b)(5) of CDLAC Regulations.)

Scattered-site Projects only. Tables 1 and 2 for each location. C, C-1, etc.

Commitments) on lztt~rhead for crediT enhancement or private placement

bond purchase. If FHA non-Forward Commitment, AUD

Aclrnowledgement letter must be included: ll or D-1, D-2 ete.

(See Sections 5060, 5061 and 5062 of CDLAC Re ulationsJ

Itemized breakdoums of the complete sources of funds for construction. E-1

Itemized breakdowns of the complete sources and uses of funds for

permanent financing. Submit CDLAC Attachment E-2, or TCAC ~_Z

Application Section IV Sources and UsesBudgetPartl, or comparable

document....,:: ,e,~ i:. „c..n ro.....,. ~.. _.,:a ~rc,.« .~ ..: .~ Disposivon ofcurrent

outstanding liens. E-3

Breakdown of the amount and type oFdirect and induectpublic funds (form ~

rovided by CDLAC). (See Secrion 5230 h) of the CDLAC Regulations.

Commitments) or other evidence of direct and indirect public funds. (See F-1, F-2 etc.

Section 5230(h) of CDLAC Re ulations.)

Relocation Plan, if Acquisition and Rehabilitation project G or Gl

High per-unit cost justification G, Gl or G2

Itemized breakdown of die hard construction costs. H or H-1

CapiCal Needs Assessment

(See SecCion 5212 of CDLAC Re ulatioos) ~-~

Itemized breakdown of operaring expenses (form provided by CDLAC). I

Naerative of prior :allocation award and reason for new request. J

Narrative description of the proposed Project. K

Evidence of PreservaCion Project and HAP contract, if applicable... L or L-1, L-2 eta

(See Section 5230(b) of the CDLAC Re ulations.)

Evidence of site control M, M-1, M-2 etc.

(See Section 5190(a) oFthe CDLAC Regulations.)

Evidence of iocalapprovals and zoning (form provided by CDLAC). Nor N-1,N-2 etc.

(See Section 5190(b) of the CDLAC RegulaCionsJ

Justification or validation of utility allowance. (See Section 5230(d) of the ~

CDLAC Re ulations J

Market Study. P(See Section 5200 of the CDLAC Re ulations.)

25Non-Competitive QRRP " ~- acv ^,~ea~~;-^~i °rProposed 1 1 21 2017

Scaled-for-distance map showing the proposed Project at the center of a Qcircle that encom asses the comparable mazket rental properties.Rent Compazability Matrix(See Section 5200 of CDLAC Regulations.)

Eligible Projects submitting a Market Study pursuant to Section 5200(e) ofthe CDLAC RegulaCions are exempt from submitting Rent Compazability RMatrices unless requesting points for below market rents pursuant to Section5230(b)(3) of the CDLAC Regulations.

Scattered-site Projects only. A lication Tables I and 2 for each location.Documentation confirming Community ReviYaGzarion Area. designation and

S, S-1, etc.activiries. (See Section 5230(1) of the CDLAC Regulations.)Project Sponsor's certification that die site amenities aze exisCing and areappropriate for the population being served. T(See Section 5230(j)(I) and (2) of the CDLAC Regulations.)Public transit or van or dial-a-ride service time schedule and route mapshowing the proposed Project is within -'10- I/3 mile of a Public Transit T-1Corridor.Scaled-for-distance map showing the proposed Project at Che center of acircle with a %-mile radius and the location of the applicable site amenities T-2within such radius.A letter from the controlling entity, signed by an authorized individualrepresenting the entity, that states the funds for the amenity are committed T-3and the amenit is TannedProject Sponsor's eertiScation that die service amenities are appropriate forthe population being served. U(See Section 5230p) 1 (A of the CDLAC RegularionsJExperience and duties of the bona fide service coordinatorlsocial worker andminimum 1-year contract for services, MOU, of commitment letter on U-1agency letterheadDetailed budget displaying all anticipated income and expenses associatedwith the Project's service amenities and evidence of the combined annual U-2value of the service ameniries.

Scaled-for-distance map showing Che location ofoff-siCe service amenities, if U3

any, within % mile of the proposed Project.

Minimum Sustainable Building Standazds certification by the ProjectSponsor, Project ArchiCeet, and Applicant (See Section 5205 of the CDLAC V-1Regulations).Sustainable Methods Certificatiotrs by the Project Sponsor, Project

V-2Architect, and A licane (Sez Section 5230(k) of the CDLAC Regulations .

Information pertaining to the Project Sponsor. W-1

Information pertaining to the Project Sponsor's experience (form provided W 2by CDLAC).

Information pertaining to the Project Developer. W-3

Information pertaining to the Project Developer's experience (form provided w 4by CDLAC).A list of tl~e Project Sponsor's and Developer's California projects withapplicable cities and counties that were developed or rehabilitated with tax- W-5exem t bond Pinancin .Information pertaining to khe proposed property management company X(form rovided b CDLAC).Responses to PART V —Legal Status of Applicant and Project Sponsor. y

Responses to PART VI, df applicable, pertaining to Current Owner of Zro erty (form rovided by CDLAC).

26Non-CompeCitiveQRRPo-~:-~',-^~,-~"'TProposed11212017

" PERFORMANCE DEPOSIT CERTIFICATION FORMFOR AN APPLICATION FOR AN ALLOCATION OF-QUALIFIED PRIVATE ACTIVITY BONDS

THE CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE (CDIAC)915 Capitol.Mall, Room 311Sacramento, CA 95814

(916)653-3255

.CERTIFICATION OF THE (Applicant)REGARDING AN APPLICATION FOR QUALIFIED PRIVATE ACTIVITY BOND ALLOCATION

in connection with the following Qualified Private Activity Bond Application:

APPLICANT:

AMOUNT OF ALLOCATION REQUESTED: $

PROJECT NAME/PROJECT TYPE

the undersigned officer of the (Applicant) hereby certifies as follows

1. 1, :(Name), am the {Title) of the (Applicant); and am duly authorized to make

the deposit required below.

2. The (Applicant) has collected and has placed on deposit in an account in a financialinstitution $ dollars (write out dollar amount in words), which equals one. half of one

percent of the amount of the Qualified Private Activity Bond Allocation being requested, not to

exceed $100,000.

3. The deposit will tie held until receipt of a written notification from the California Debt Limit Allocation

Committee that the deposit is authorized to:be released or forfeited, in whole or in part,,pursuant to

Article 5 of Chapter 1 of the. Committee's Regulations.

4. To the extent that any portion of the deposit is forfeited, the Applicant agrees to send the requiredamount in a check,made payable to "The California Debt Limit Allocation Committee." Such checkshall be mailed tothe Committee atthe address noted above. immediately upon;receipt of the

r written notification from the.Committee.

5. The undersigned has read the Regulations of the California Debt Limit Allocation Committee andunderstands that if a Qualified Private Activity Bond Allocation is not used for the purpose for which

it was,granted,-the performance deposit must be forfeited to the Committee.

Signature of Senior Official Print or Type Name

.Title Date

27Non-Competitive QRRP ",..'--'.~.~a~`--^;-~^'r7-Proposed 11 ?1 2017

1) Each Applicant for a Qualified Private Activity Bond Allocation must submit evidence to theCommittee that it has on deposit in an account in a financial institution an amount equal to one half ofone percent of the amount of Qualified Private Activity Bond Allocation being requested, not toexceed $100,000. Applicants are advised to read Article 5 of Chapter 1 of the Committee'sRegulations.

2) The Performance Deposit Certification Form (see other side) must be filed with the Committee inconjunction with the filing of an Application and by the Application Deadline.

3) The Committee will authorize release or require forfeiture of the deposit as follows:

a. If the Committee provides no Allocation, or grants an amount lower than requested by theApplicant, the Committee will authorize release of the deposit or release of a pro rata amount ofthe deposit so that only one-half of one percent (0.5%) of the Allocation granted is on deposit;

b. If the Applicant uses only a portion of the Allocation granted to issue bonds (or convert theAllocation to mortgage credit certificate authority), the Committee will authorize the release ofthe deposit in accordance with the conditions imposed at the time of Allocation. The Committeewill approve the Allocation with the deposit fully refundable if 80% or more of the Allocation isused to issue bonds prior to the expiration date. If Tess than 80% of the Allocation is used toissue bonds prior to the expiration date, the refundable performance deposit will be pro-rated.For Mortgage Credit Certificate Programs, if 80% or more of the Allocation is converted tomortgage credit certificate authority and at least one mortgage credit certificate is issued prior tothe expiration date, the performance deposit will be refunded in full. If less than 80% of theAllocation is converted to mortgage credit certificate authority and at least one mortgage creditcertificate is issued prior to the expiration date, the refundable performance deposit will be pro-rated.

c: If the Applicant does not use any of the Allocation to issue bonds prior to the expiration date (orconvert the Allocation to mortgage credit certificate authority and issue at least one mortgagecredit certificate prior to the expiration date), the entire deposit will be forfeited; and

d. If the Applicant or the Project Sponsor withdraws the Application in writing prior to theCommittee's consideration of the Application, the performance deposit shall be automaticallyreleased and no written authorization from the Committee shall be necessary.

4) If the Applicant forfeits ail or a part of a deposit pursuant to Article 5 of Chapter 1 of theCommittee's Regulations, the Applicant shall send the required amount to the Committee in a checkmade payable to "The California Debt Limit Allocation Committee". Amounts received will bedeposited in the Committee's Fund.

5) Project Sponsors bear the risk of forfeiting ail or part of their performance deposit if the Allocation isnot used in accordance with the conditions and timeframes set forth in the Committee Resolution.

28Non-Competitive QRRP ~Proposcd I 121 2017


ATTACHMENT E-2

Permanent Sources And Uses

29Non-Competitive QRRP o~~.:~-a~,- , ^n„ pro~oced I 121 2017

~'ALIFOR1e1IA DEBT LIMIT ALLOCATION COMMITTEE

r~TTACHIV~~N'i' E-3

Disa~asition of Current Outstanding Liens

Lender/Loan Amount Disposition Corresponding

ExceptionNumber fromit e

Example: City of San Jose loan $2.250.000. To be assumed 8dated 5 10 96

31Non-Competitive QRRP "~. '~~a nm on,^r Ar000sed 71 21 201 r


ATTACHMENT F

PUBLIC LOAN AND GRANT SUBSIDIES

If one or more of the following subsidies are proposed indicate with an °X", state the amount, and include

a copy of the commitment.

"X" Amount

HOME Investment Partnership Act (HOME) ❑ $ _

Community Development Block Grant (CDBG) ❑ $

RHS 514, 515, 516, 538 ❑ $

Century Rousing Corporation ❑ $

Redevelopment Set-aside ❑ $

HCD's Multifamily Housing Proy-am ❑ $

Federal Home Loan Bank AHP Funds ❑ $

Other (Specify) ❑ $

TAXABLE DEBT FINANCING

List below the taxable debt lenders.

Name of Lender Term in Interest Rate Amount of FundsMonths

ova

Total Taxable Debt $

32Non-CampetiCive QRRP ~-.~--,' nom,-n, ''^„ m osed ll 21 2017

CALIFORNIA DEBTLIMIT ALLOCATION COMMITTEE

ATTACHMENTI

ANNUAL OPERATING EXPENSES

General Adnvnistrative

Advertising $Legal $

Accounting/Audit $Security $

..Other $.Total General Administrarive $

Manaeement Fee $

UCilities

Fuel

Gas

Water/Sewer

Other

Total Utilities

Payroll/Payroll TaxesOn-site Manager

Maintenance Personnel

InsuranceOther

Total PayrolUPayroll Taxes

Maintenance

Painting

Repairs

Trash Removal

ExterminatingGrounds

Elevator

Other

Total Maintenance

Service Amenities Budget

Service Coordinator/Social Worker $Other $

Total Service Amenities $

33Non-Competitive QRRP ~~w~~~1-86-H-}-2~9k~Pr000sed I 1 21 2017

Other (specify)

Total Other ~

ToCal Annual Residential Operating Expenses $

Total Reat Estate Taxes ~

Total Reserves (operaTing &replacement) $

Annual Commercial O~eratin~ Expenses (if applicable) $

Total Commercial Space E~enses (if applicable) $

TOTAL OPERATING EXPENSES ~

34- Non-Competitive QRRP ~'::~~' n,~,—m-~n~ on, o Proposed 11 21 2017

ATTACHMENT N

(Questions #3, #4 and #5 are not applicable to Acquisitic

PROSECT NAME:

PROJECT ADDRESS:

ASSESSOR PARCEL NUMBER (S):

PLANNING FILE NUMBER:

in projects)

PROJECT CITY:

PROPOSED NUMBER OF UNITS:

HOUSING TYPE:

The entire parcel upon which the above-described project will be located is zoned

Qualified Residential Rental Project (multifamily housing) development of no greater than

which allows for a

units per acre.

1. Does the project currently comply with all applicable local land use and zoning ordinances (If no, please explain)?

2. Please describe the current zoning and maximum per unit density allowed for the site.

3. a. Has the project sponsor (developer) obtained all local approvals (other than a building pernut and design review) thatare subject to the discretion of local elected officials? If no, please exptain.

b. Are any local approvals subject to public appeal? If yes, provide the date that each appeals period will lapse. If anyland use approval is subject to public appeal, within no less than 5 calendar days prior to the first publicposting of the Committee, the applicant must provide proof that either no appeals were received, or that any:appeals received during that time period were resolved and the project is ready to proceed.

4. Are there any outstanding approvals required by the Planning Commission, City Council, Board of Supervisors or otherdiscretionary voting body for land use entitlements (If yes, please explain)?

5. Are you awaze of any state land use related approvals which may be required (If yes, please explain)?

DATED:

STATEMENT COMPLETED BY:(Please Print)

SIGNATURE:

TITLE:

TELEPHONE: FAX: E-MAIL:

35Non-Competitive QRBP ~Pr000sed 1 (21 2017

ATTACHMENT TSITE AMENITIES

10 points maximum. Check as many amenities as are applicable to the proposed Project.

Check kere if Check here if

S'1teE~TTleriltiy amen8ry amenity is

eurrentdy proposed, butexists not currently

existin

A. 2.5 points for one of the following:

The proposed Project is located within:

(1) one-third (1/3) mile of a Public Transit Corridor a transit station, rail station, ❑ ❑

commuter rail station, bus station or bus sWp; or

2) one-half (1/2) mile of a High Quality Transit stop or station; or Q ❑

(3) the proposed Project is a Rural Project as defined in Section 5000 of the

CDLAC Regulations and is using a van or dial-a-ride service due to the lack of ❑ ❑

a public transporCaCion system available in that Rural Area.

B. Projects eligible for Transit Corridor, High Quality Transi[ or van/dial-a-rideservice points under Section 5320Q)(2)(A)(1) or (2) will receive additional pointsfor committing to provide to residents inonChly passes for the transit amenity for

which the project received points a[ no cost or priced at no more than half of retail

cost. Passes shall be made available on a fast-come, first-served basis to all tenantsof renUrestricted units for at least 35 yeazs:

(1) 3 points for at least one pass per renhresCricCed uniC; or ❑ ❑

(2) 1.5 points for at least one pass per each 2Rent-Restricted units. ❑ ❑

C. 2.5 points. The proposed Project is located within'/z mile of a park or ❑

recreational facility.

D. 2.5 points for one of the following:

The proposed Project is located within close proximity of groceries and other

essential shopping needs. (Grocery means a full service store or supern~azkef that

provides food staples; fresh meats, poultry, dairy products, and produce; as well

as ocher personal and household products. For CDLAC purposes, convenience

stores and mini-marts/markets are not considered full service stores or

supermarkets).

Select one of the following:❑ ❑

1. The proposed Project is within %mile of a full scale grocery sCorelsupermarket

of at least 25,000 gross interior square feet. For Rural Projects, within 1 mile.

2. The proposed Project is within Ya mile of a neighborhood market of aY least ❑ ❑

5,000 gross interior feet. For Rural Projects, vrithin %z mile.


36Non-Competitive QRRP Proposed L 121 2017

The proposed Project is located within close proximityoFpublic schools (K-12


not be eligible for points uader this criterion).

1. `yithin %mile of a public elementary school; y mile of a public middle

school, or 1 mile of a public high school that children living in the

development may attend and thatthe siCe is within the attendance azea of

that school

2. For Rural Projects, an additional %z mile for each publ[c school type that ❑ ❑

children living in the development may attend and that the site is withinthe attendance area of that school


The proposed Project is located within: ❑ ❑

(i) 1/2 mile (For Rural set-aside projects, 1 mile) of a medical clinic:(n that has a physician, physician's assistant, or nurse. practitioneronsite for a minimum of X30 hours each week, and(II) that accepts Medi-Cal and Medicare payments, or Health Caze forthe. Homeless for pro}ects housing homeless populations, or that hasan equally comprehensive subsidy program for low-income patients;or

(ii) 1 mile (for Rural set-aside projects, 1 %x miles) of a hoppital (not merely aprivate doctor's office); or(iii) 1/2 mile (for Rural projects, 1mile) of a pharmacy.

G. 2.5 points..The proposed Project is located within %z mile oP a public ]ibrary ❑ ❑

H. 2.5 points. The proposed Project will provide high speed intemet or wireless"WiFi" service connection to each unit. Service will be available by Che placedin service date. High speed Internet service, with a minimum average download ❑

speed of 768 kilobits/second must be made available to each unit for a minimumof 15 years, free of charge to the tenants, and available afthe time of therojecYs laced-in-service0ate.

To eam points in this category, the Project Sponsor must 1) complete the certification provided below; 2) if applicable,

submit evidence of a Public Transit Corridor or van or dial-a-ride service {such as a time schedule or route map that clearly

demonsYiates the Project is within 1/3 mile of a transit station, rail station, commuter rail station, bus station or bus stop),

labeled as Attachment T-1; 3) submit ascaled-for-distance map, labeled Attachment T-2; showing the proposed Project

and the other applicable site amenities {the map must belegible and must clearly show the proposed Project aEthe cenCer of a

circle with a l mile radius (1 %z miles for rural projects) and the locations of the clauned amenities wiChin distance radii

applicable Eo each amenity); and 4) for site amenities that do not currently exist, a letter from the controlling enfity; signed by

an authorized individual representing the entity,'labeled as Attachment T-3, that states the funds t'or the amenity aze

committed and tUe amenity is planned (Future WiFi service is excluded from the letter requirement); in case of the bus stop

that does not currently exist, the leCter must show that the bus provider and mumcipaliry have agreed on and approved the site

for the stop and it will be in e~sCence no latex than two (2) years after the development is placed in service.

CERTIFICATION

"As the Project Sponsor, I certify thaC the (name of project) will have the amenities checked above and that these amenities

are existing or proposed, and appropriate for the population being served."


37Nrn~-Competitive QRRf' ~hwr~~-96-8~-~8~~Proposed I 121 2019

aTTAcxMENT uSERVICE AMENITIES.

10 ooints maximum. Check ac many ameniiiec as are annlicahle to the nrnnnaed PrniPct

Amenity Check boxA. Five (5) points will be awazded to Family Projects with afrer school programs of an

ongoing nature. The programs sha11 include, but are not limited to: tutoring, ❑mentoring, homework club, and arC and recreation activities. The programs shall beprovided weekdays throughout the school year for at least 10 hours per week.

B. Five (5) points will be awarded to Projects with instructor-led educaCional, healthand wellness, or skill building classes. The classes shall include, but are not limited ❑to: financial liCeracy, computer training, home-buyer eduearion, GED, resumebuilding, ESL, nuCrition, exercise, health infoanation/awazeness, art, parenting, o~-site food cultivation and preparation and smoking cessation. The classes shall beprovided a[ a minimum of 84 hours per year (drop-in computer labs, monitoring ortechnical assistance shall not qualify).

C. Five (5) points will be awarded to ProjecCs wikh licensed childcare providing 20hours or more per week (Monday through Friday) to residents of the development. ❑

D. Five (5) points will be awarded to ProjecCs with health and wellness services andprograms. Such services and programs shall provide individualized support for ❑tenants (not goup classes) but need no[ be provided by licensed individuals ororganizations. The services shall include, but are not limited to: visiting nursesprograms, intergeneraaonal visiting programs, and senior companion programs. Theservices shall be provided at a minimum of 100 hours per year.

~. Five (5) points will be awarded to Projects with a bona fide servicecoordinator/social worker available provided that the experience of the coordinator,the duties of the coordinator, and a budget to pay for the coordinator are included ❑labeled as Attachment U-1. The responsibilities must include, but are not limitedto: (a) providing tenants with information about available services in the community,(b) assisting tenants to access services through referral and advocacy, and (c)organizing community-building and/or enrichment activities for tenants (such asholiday events, tenant council, etc.)

To earn points in the category, the Project Sponsor must complete the certification provided below and provide evidence thatthe combined annual value of service amenities is at least $10,000, or $5,000 for Projects of twenCy (20) units or fewer,labeled asAttaehmeut U-2. If service amenities are to be Located off-site, submit ascaled-for-distance map labeled asAttachment II-3 that clearly shows the locarion(s) of the applicable ameniry(s) are within'/z mile (1 %s mile for Ruralprojects) of the proposed Project.

CERTIFICATION"As the Project Sponsor, I certify that the (name of projecC) will provide tl~e amenities checked above and that theseamenities are (1) appropriate for the population being served; (2) eotnmitted for a minimum of IS yeazs; (3) free of charge(with the exception of licensed childcare) to the tenants; and (4) have a combined annual value of at least $10,000, or $5,000for Projects of twenty (20) units or fewer. I fiuther certify that the Project has space available f'or the amenities, or that theservice amenity is located within %mile (1 %z mi3e for Rural projects) of the proposed Project, or that tenanCs will be provi8edwith free of charge round-trip transportation between the Project and all off-site services located more than one-half ('/z) milefrom the ProjecC (one and one-half (1%) miles for Rural projects)."


Title Date

38Non-Competitive QRRP :?~e,;~ea-~-rAroposed 1 121 2017


ATTACHMENT V-1

MINIMUM SUSTAINABLE BUILDING STANDARDS CERTIFICATION

The following minimum specifications shall be incorporated into the project design when investment in such elementsis proposed in the Project's scope of work andlor the Capital Needs Assessment. Please note that if seeking tax credits,

please consider CTCAC's workbook requirements when developing your CDLAC application (Secrion 10325 (~(7)(A) ofCTCAC regulations).

A. All rehabilitation projects shall have improved energy efficiency above the modeled energy consumption

based on e~stind conditions, with at least a tenpercent (10%) post-rehabilitaCion improvement over

e~sting conditions. Scattered-site rehabilitation projects shall also have aC least a five percent (5°/a)improvement over existing conditions at each location.

B. Landscaping. A variety of plant and tree species that require low water use shall be provided in sufficientquantities based on landscaping practices in the general markeC area and low maintenance needs. Projectsshall follow the requirements of Che State's Model Water Efficient Landscape Ordinance (Title 23,CaliFornia Code of Regulations, Section 490 er seq.)(ht[p://www.water.ca.gov/waterusee~ciency/landscapeordinance!} unless a local landscape ordinance hasbeen determined to beat IeasY as stringent as the current model ordinance.

C. Roofs. Roofing shall carry athree-year subcontractor guarantee and at least a 20-yeaz manuf'acturer's

waaanty.

D. Exterior Doors. Insulated or solid core, flush, paint or stain grade exterior doors shall be made of metal

clad, hazdwood faces, or fiberglass faces; with all six sides FacCory primed and subject to a standard oneyear guazantee.

D. Appliances. Refrigerarors, dishwashers, clothes washers and clothes dryers provided or replaced withinlow-income units aud,~or in on-site community facilities shall be ENERGY STAR rated appliances unless

waived by the Executive Director.


G. Water Heater. For units with individual tank-type water heaters, minimum capacities are Co be 28 gallonsfor one-bedroom and two-bedroom units and 38 gallons for three-bedroom and lazger units.

H. Floor Coverings. A hard, water resistant, cleanable surface shall be required for all kitchen and bath areas.Carpeting shall comply with U.S. Department of Housing and Urban Developmend Federal Housing

Administration UM44D.

I. Insulation. All fiberglass-based insulation shall meet the Greenguard Emission Criteria for Children andSchools as required by the California Tax Credit Al9ocation Committee Title 4, Division 17, CflapEer 1,Secrion10325.

Waiver Requested (please attach proof of waiver approval)

39Non-Competitive QRRP Pro. osed I 1 21 2017

Q "I certify fihaC the project rehabilitation or construction project will include the minimum sustainable buildingrequirements as specified above in items A through I. As the projecC sponsor I have read the CDLAC regulations Section5205 (b) through (c) and will provide the appropriate verification that the minimum requirements have been achieved asrequired by Section 5205(c) of the CDLAC Regulations."

,Signature ofProject Sponsor

Printed Name

,Title

Date

❑ "As the licensed Project Architect, I certify* that the project wi11 be designed to be in compliance with minimumsustainable building requirements as outline above in items A through I. Compliance with this requirement will bedemonstrated by submission of the energy performance certificate and appropriate third party verification m CDLAC asrequired by Section 5205(c) of the CDLAC Regulations."*PLease see a definition for "certif~v Licensed Architect in California Business and Professions Code Division 3 Cli3pter3 Ardcle3 X553626.


Printed Name

Company Name

,Company Address

,Company Phone Number

Date

❑ "I sin aware that all rehabilitation or constmcCion projects are required Co meet the minimum sustainable buildingrequirements as specified above in items A through I. As the ApplicanC/Issuer I have read the CDLAC regularions Section5205 (b) through (c) and will assist in providing the appropriate verificaCion that the minimum requirements have beenachieved as required by Section 5205(c) of the CDLAC Regulations."

Signature of Applicant's Senior Official

,Printed Name

Title.

Date

40Non-Comperitive QRRP P~:i~a n~ n~^^' °Proposed 1 t 2I 2U 17


ATTACHMENT V-2

SUSTAINABLE METHODS CERTIFICATION

10 points maximum. Check as all items that are applicable to the proposed Project and design, verificaCion of

compliance will be required. Check only one box in each applicable category.

A. 5 totaC ossible oints.energy Efficienc Certification Check here

Leadership in Energy &Environmental Design (LEED for Homes) ❑

Green Communities ❑

Passive House Institute US (PHIUS) ❑

Passive House ❑

~Z~ivin Building Challen e 0Green Point Rated Multifamil Guidelines

National Green Buildin Standard ICC/ASRAE — 700 or hi her ratio Q

2011 Entezprise Green Communities ❑

1 oint: WELL (when not combined with the rograms above) ❑

B. New Construction or Adaptive Reuse Projects:

1. Energy efffciency beyond the requirements in Title 24, Part. 6, of the California Building Code:

2. Energy Efficiency with renewable energy:

Percentage Better than the 2016 Standards Check here


12 percent 5 Dints ❑

Offset of Tenants' Load Check here

20 ercent 3 Dints For Low-Rise/4. Dints for Hi h-Rise ❑

30 ercent 4 oinEs for Low-RiselS Dints for Hi h-Rise ~ Q

40 ercent 5 Dints for I.ow-Rise only ❑

C. RehabilitationPro'ects:Improvement Over

points Check hereCurrent15% 3 Dints ❑

20% S points ❑

AdAitinnal Pninic fur Rrhahilitatinn Prniertr

A. 2 points. Photovoltaic generation or solaz energy as described in TCAC Check only oae box

Regulations § 10325(c)(g~(E): for items i-iii

(i) The Project will include photovoltaic (P~ generarion that offsets tenant loads; ~

or

(ii) PV that offsets either 50 percent (50%) of common area load (if the combined

available roof area of the project structures, including carports, is insufficient for

provision of 50% of annual common area electricity use, then the project shall

have onsite renewable generation based on at least 90 percent (90%) of the

available solar accessible roof area); or

(iii) Solar hot water for all tenants who have individual water meters ❑

41- NomCompetitive QRRP "— :-~'~.,~^`~' '"ir7-Proposed 11 2 t 2017

B. 2 poinCs. The Projec[ will individually meter or s¢b-meter currently master-metered gas, elechiciry, or central hot water systems for all Cenants. ❑

C. 2 points. The Project will implement sustainable building managementpractices that include:(i) Development of aproject-specific maintenance manua3 including replacementspecifications and operaCing information of all energy and green building ❑features; and(ii) Undertaking forma] building systems commissioning, retro-commissioning orre-commissioning as appropriate.

E.

G.

oints. IrtigationNo irrigation; or Reclaimed, Grey or Rainwater Irrigarion per TCAC Check herespeciSearions as described in TCAC Regularions §10325(c)(65)(F) ❑

F. 2 points. Non-Smoking Policv.

Check hereMalti-building project having at least one nonsmoking building ❑

Single building project having a po3icy prohibiting smoking in contiguous

designated units

! points. Parking Ratio

Parking Ratio equivalent to ox less than 1 parking stall per single room Check hereoccupancy orone-bedroom restricCed rental unit and LS parking sCalls per two- ❑

bedroom or lager restricted rental unit.

❑ "I certify that the project rehabilitation or consWction will include sustainable building methods and energy efficiency asindicated above in items A through G. As the project sponsor I have read the CDLAC regulations Section 5230(k) and willprovide the necessary verification that the above items have been implemented as an attachmene to the first AnnualCertifiearion of Compliance.


Printed Name

Tide

Date

❑ "As the licensed Project Architect, I certify that the pioject will be designed to be in compliance with items A throughG. Compliance with this requirement will be demonstrated by submission of the energy performance cerCificate andappropriate third parCy verificarion to CDLAC as an attachment to the first Certi£cation of Compliance."*Please see a definition for "certify" by Licensed Architect in California Business and Professions Code llivision 3. Chanter3 Article 3X5536.26

Signature o£Project Architect, California License #

Printed Name

,Company Name

Company Address

Company Phone Number

42Non-Competitive QRRP ~~ri~' nc n'~~n~ ~ Proposed 1 121 2017

Date

❑ "I am awaLe that the project sponsor is receiving susCainable building points as specified above in items A through G. As

the project sponsor I have read the CDLAC regulations Section 5230{k) and will assist in providing the evidence of

compliance as required with the first Annual Certification of Compliance."

Signature of Applicants Senior Official

Printed Name

Title

Date

43Non-Competitive QRRP n-.:--a ~..~-~~-o,-~,-,n, nm ~ pi.oposed I 1 21 2017


ATTACHMENT W-1

INFORMATION ON PROJECT SPONSOR(POST CLOSING OWNERSHIP)

The informaCion provided in this form must relate to the Project Sponsor as defined in the CDLAC regulations.

Aate &place formed:

Pari'ners comnrisine Proiect Snonsor

Corporate Name Corporate Address Role %Ownership Check ifNonprofitEntity

Partner # 1

Partner #2

Partner #3 % ❑

Partner #4




Names and tiCles of the individuals who are the principals or officers of Partner #4: Please provide an organizational chartof the entity.

If applicable, please provide additional information that may be peRinent to this Application:

44Non-Competitive QRRP ~~c;sea-^~^,—' ~ Proposed I 121 2017


ATTACHMENT W-2

COLLECTIVE EXPERIENCE OF PROJECT SPONSORAND ALL PARTNERS

(If different than Developer)

General experience

Total number of yeazs o€experience developinglrehabilitating multifamily renCal housing:

Total number of projects developed rehabilitated:


Total number of years of experience developing/rehabilitating projects in California:

Total number of projects developedlrehabilitated in California:


In the past 5 years, number of projects developed/rehabilitated:

In the past 5 years, number of units developed/rehabilitated in above projects:

In thepast S years, number of projecCs developed/rehabilitated in Cal[fornia:

In the past S years, number of units developed rehabilitated in California:

Indicate the total number of units that aze currently under ownership of Developer:

Indicate the total number of umYs that are currently under management of Developer:

Tax-exempt bond experience


Total number of units financed wills tax-exempt bonds:


Total number of California units financed with tax-exempt bonds:

In the past S years, total number of projects financed with tax-exempt bonds:

In the past 5 years, total number of units financed with tax-exempt bonds:


In the past 5 years, total number of California units financed with tax-exempt bonds:

In the past 5 years, number of projects and number of units in California financed with tax-exem tbonds:

45- Non-Competitive QRRP ;~.:~~o-o,-~-r-rPronosed l i 21 2019


ATTACHMENT W-3

INFORMATION ON PROJECT DEVELOPER

The information provided in this form must relate to the Project Developer identified in PART I, Item #9, of this Application.

Date &place formed:

Check appropriate business twe of the Project DeveloperIndividual ❑ ParCnershi ❑ Governmental entity ❑Co oration ❑ ". Non rofit entity ❑ ;; Joint Venture ❑

Identify the entities comprising Project Develover.Corporate Name Corporate Address Role % Check if

Ownership NonprofitEntity

Partner#1 ~/„

Partner #2 % ❑

Partner #3

Partner #4 -

Names and titles of the individuals who aze the principals or officers of Partner #1: Please provide an organizational chartof the entity.

Names and titles of Che individuals who are the principals or officers of ParCner #2: Pleaseprovide an organizational chartof the entity.


Names and titles of the individuals who are the principals or officers of Partner #4: Please provide an organizational chartof the enCity.

If applicable, please provide additional information that maybe pertinent [o this ApplicaCion:

46Non-Competitive QRRP n~~ :.,,,a n~~n~ on, ~ Proposed 1 121 2017


ATTACHMENT W-4 -

EXPERIENCE OF PROJECT DEVELOPER

General experience

Total number of yeazs of experience developing/rehabilitating multifamIly rental housing:

Total number of projects developed/rehabilitated:


Total number of yearsof experience developing/rehabilitating projects in California:

Total number of projects developed/rehabilitated in California:


In the past S years, number of projects developed rehabilitated:

In the past 5 years, number of uniCs developed/rehabilitated in above projects:

Zn the past S years, number of projects developed rehabilitated in California:

In the past 5 years, number of units developed/rehabilitated in California:

Indicate the total number of units that are currently under ownership of Developer:

Indicate the total number of units that are currently under management of Developer:

Tax-exempt bond experience




Total number of California units financed with Yax-exempt bonds:

In the past 5 years, total number of projects financed with tax-exempt bonds:

In the past 5 years, total number oFuniYs financed witfi tax-exempt bonds:

In the past S years, Cotal number of California projects financed with tax-exempt bonds:

In the past S years, total number of California units financed with tax-exempt bonds:

In the past 5 years, namber of projects and number of units in California financed with tax-

exem t bonds:

47Non-Competitive QRRP ~Pronosed 1 121 2017


ATTACHMENT X

INFORMATION ON PROPOSED MANAGEMENT COMPANY

1. Name and business address of the management company(s) that will manage the proposed ProjecC:

? Length of time the Project Developer has done business with management company(s) identified above:

3. Provide a brief descrip8on of the experience level of the property inauagement company:

48Non-Competitive QRRP ~Fewt~~~-96-8-1-2&F=Proposed l l 21 2017


ATTACHMENT Z

INFORMATION ON CURRENT OWNER OF PROPERTY

1. Names) of Current Owner of Property:

Business Street Address:

City:

State:

Zip code:

2. Names and Cities of the individuals who are the principals of the entieies comprising the CunenC Owner of Property:

3. When is sale or trazisfer of property expected to close escrow?

49Non-Competitive QRRP ~Acoposed I t 21 2017

FINDING OF EMERGENCY


Finding of Emergency

Fursµant to Section 8869.94 of the California Government Code (the "Code"), the regulations beingadopted herewith by the California Debt Limit Allocation Committee (The "Committee") as emergencyregulations (the Emergency Regulations") are, by legislative mandate, necessary for the immediatepreservation of the public peace, health and safety, and general welfare.

The California DebC Limit Allocation Committee has complied with the requirements to provide

notice of proposed rulemaking action pursuant to Government code section 113461(a)(2).

Necessity

These Emergency Regulations are necessary to implement, interpret and make specific,8869.80 to8869.94.

Authority and Reference.

Authoiity: Section 8869.94; California Government Gode. Section 8869.94 of the Code authorizest1~e Committee to adopt regulations relating to an,allocation system to administer the;state unified volumeceiling as emergency regulations and instructs the. Office of Administrative Law. to consider such

regulations to be "necessary for the immediate preservation of the public peace, health and safety or general

welfare.,'

Reference: `Sections -8869.82, 8869.84, 8869,84(c), 8869:85(a), and -8869.85(b), CaliforniaGovernment Code. These Emergency Regulations implement, interpret and make specific Sections

8869,82, .8869.84;;8869.85, 8869.86, 8869.88, 8869.89 and 8869.90 of the Code.

Informative Digest/Initial StatemenC of Reasons and Economic Impact Assessment

List of forms to be incorporated by reference:

`1. "Standard QRRP Competitive Application" (06-01-2017)2. "Standard QRRP Open Application" (06-01-2017)

The Committee is authorized to adopC regulations relating to an allocation system to administer the state

unified volume ceiling as emergency regulations (California Government Code $869.94).

These Regulations primarily address the statutory mandate, Section 8869.84(c) of the Code, to create an

allocation system to administer the state unified volume ceiling.. The proposed allocation system will

.provide tax-exempt private activity bond allocation (state ceiling) to state, JPA and local agencies,

promote issuer accountability and additional controls to ensure both projects and programs are structured

in a fiscally responsible manner. More specifically, the proposed regulations will clarify sections where

language may have been ambiguous and allow for an additional allocation round at the end of December,

2017 in response to the possibility that Congress may disallow the issuance of tax-exempt bonds.

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The objectives of these Proposed Regulations are to ensure compliance with state and federal law in afair, flexible and streamlined manner so applicants may take full advantage of all CDLAC programs.

CDLAC has conducted an evaluation of existing state regulations aad has determined that the ProposedRegulations are not inconsistent or incompatible with existing state regulations (California GovernmentCode 113465(a)(3)(D).

Necessity Statements for Forms to be Incomorated by Reference

"Standard QRRP Competitive Apulication" (0 6-01-20 1 71Necessitv:

• On the Y~-st page, remove letterhead as the inforniation it contains (names of Committee members

and the Executive Director) is more frequently updated on the CDLAC's website.

• In addition, add confu-mation that valid Issuance and Compliance policies have been submitted by

the Issuer and approved by CDLAC. See Page 5, item 5.

• Change the signature page to "Senior Official or Designee" on page 2 of application, and

Attachment V-2, to allow those individuals with signature delegated authority by Joint Power

Authorities to sign, without naming them as Senior Officials.

• Include the managers unit in the CDLAC application for high cost calculations. See page 7, item

6.

• On page 10, capitalize "special needs" because it is to be defined in Section 5170.

• On the QRRP Application Documents Checklist, page 24, Item D, require the commitment letter

to include lender's letterhead as evidence of authenticity..

• To reconcile the distance CDLAC requires a project to be from a Public Transit Corridor for

points, on the QRRP Application Documents Checklist page 25, Item T-1 should be changed

from one quarter mile to one thud of a mile. This was partially addressed in the prior round of

regulation revisions. However the QRRP applications checklist needs to be updated.

• Create Attachment E3 to reconcile outstanding liens as recorded against the property, and listed

in the development budget.

"Standard ORRP Open Apulication" (06-01-2017)Necessity:• On the first page, remove letterhead as the information it contains (names of Committee members

and the Executive Director) is more frequently updaTed on the CDLAC's website.

• In addition, add confumatiou that valid Issuance and Compliance policies have been submitted by

the Issuer and approved by CDLAC. See Page 5, item 4.

• Change the signature page to "Senior Official or Designee" on pale 2 of application, and

Attachment V-2, to allow those individuals with signature delegated authority by Joint Power

Authorities to sign, without naming them as Senior Officials.

• Include the managers unit in the CDLAC application for high cost calculations. See page 7, item

6.

• On page 10; capitalize "special needs" because it is to be defined in Section 5170.

• On the QRRP Application Documents Checklist, Ttem D, page 24, require the commitment letter

Yo include lender's letterhead as evidence of authenticity.

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To reconcile the distance CDLAC requires a project to be from a Public Transit Corridor,for

points, page 25; Item T-1 should be changed from one quarter mile to one third of a mile. This

was partially addressed in the prior round of regulation revisions. However the QRRP

applications checklist needs to be updated.

• Create Attachment E3 to reconcile outstanding liens as recorded against the property, and listed

in the development budget.

PROPOSED REGULATION CHANGES

Chapter 1 Article 1, Section 5000. Definitions."Placement Agent os Underwriter Statement'Necessity: Added the words "or Underwriter" to the definition, and "non-binding" in the phrase "a

summary of the firm's non-binding initial underwriting review". The first change is proposedxo address

instances where it would be appropriate for an underwriter as opposed to a placement :agent to provide a

summary of the proposed bond structure. Therefore the existing Placement Agent Statement Germ has

been expanded to include "or Underwriter Statement'. The second change, incorporating "non-binding" is

to clarify that this is an initial, non-comuittai underwriting review. This proposed change is made in

response to requests from Issuers during outreach meetings.

Chapter 1 Article 1 Section 5033 Minimum Application RequiremenTs

Necessity: In subsection (b)(5)(C) CDLAC proposes moving the words "copy of the" from after to

before the words "fully executed" for clazification on requirements regarding a TEFRA Resolution.

Chapter 1 Article 4 Section 5035 Preluninary RecommendationsNecessitvi The phrase:"During competitive rounds thelist will be" is proposed to be added prior to "in

rankedprder". The reason for the change is that during non-competitive rounds, the ranking of

applications by points does not provide information of value, so long as those applications passed the

tlueshold requirement foi points.

Chapter 1 Article 4 Section 5037 Final Recommendations

Necessity: The sentence "During competitive rounds the list will be in ranked order." is proposed to be

added. The reason for the change is that during non-competitive rounds, the ranking of applications by

points does not provide information of value, so long as those applications passed the threshold

requirement for points.

Chanter 1, Artiole S. Section 5054: Fitin¢ Fees.

Necessity: Insert a comma in the fee "$1200" for consistency with application forma

Chapter 1 Article 6 Section 5060(1). Minimum RequirementsNecessi CDLAC proposes revising the word "issues" to "issued" as it was a misspelling in this

context.

Article 6 Section 5064. Unenhanced Bond Sales with a BBB Cateeory Credit Ratine

The word "marketing" was misspelled. CDLAC proposes. spelling it correctly by changing it

'king" to "marketing", as in, "a marketing plan".

Chapter 1 Article 8 Section 5101 Extensions to Expiration Dates

Necessity: Revise wording by adding the word "for" before "Allocations" as its currently awkward

without.

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Chapter 1, Article 8.'SecEion 5102. Recovery Zone Bond ExtensionsNecessity: The proposed regulations will clarify the existing 30-day extension option.

Chanter 1, Article 9, Section 5120. Transfer RequirementsNecessity: The text has been expanded fo specify the conditions of a transfer and the requirements fordoing sa IY is CDLAC's expectation that applicants that obtain an award of allocation via a Cransferallocation from another issuer have met all CDLAC minimum threshold requirements of the programassociated with the award of allocation.

Chapter 1 Article 11 Section 5144(a) Annual Aunlicant Public Benefits and On-coin¢ Compliance SelfCertificaCionNecessity: The following sentences are proposed to be added to subsection (a): "The new Issuer takes onresponsibility of reporting on projects that have resyndicated after Year 15. CDLAC approves terminationof original bond regulatory agreements to ensure the new ageement has at least the same levels ofservice." The sentences are in response to a major issuer commenting to CDLAC staff that once a projecthas resyndicated iYs not clear if the fast issuer has compliance responsibilities. CDLAC management alsowanted to clarify that in such a case CDLAC approves the termination of the old bond regulatoryagreement to ensure the new agreement has the same levels of service, at least.

Chapter 2, Article 1, Section S 170. Definitions"Special Needs" Provides a definition of "Special Neecls" consistent with the current TCAC definition.Analysts brought up this requests to facilitate the review of applications, due to the variety of possibleinterpretations by applicants.

"Supplemental Allocation Request Letter"Necessity: CDLAC proposes adding "from the applicant' to the definirion as some have been comingfrom project sponsors, which is not CDLAC's intent.

"Table 1"Necessity: Term will be repealed in regulations due to proposed elimination of Section 5250(a)(1)requirement.

"Table 2"Necessity: Term will be repealed in regulations due to proposed elimination of Section 5250(a)(1)requirement.

Chapter 2, Article 3, Section 5190(c). Project Saonsor, Developer, and Property Mana eg mentinformation.Necessity: Applicants shall provide information pertaining to the following Pioject entities:The Project Sponsor and its partners and principals, the Developer; and the Property Manager. Theexperience of all shall also be provided. This requirement currently exists in the CDLAC QRRPapplication, a document incorporated by reference, but was nor included in the CDLAC regulations.

Chapter 2 Article 3 Section 5190(dl I Beal Status of Proiect Sponsor and DeveloperNecessity: Applicants shall disclose the legal status of the Project Sponsor and the Developer of theProject. This requirement currently exists in the CDLAC QRRP application, a document incorporated byreference, but was not included in the CDLAC regulations.

Chanter 2, Article 3, Section 5190(e). Current Owner of Proiect site.Necessity: Applicants shall disclose the information regarding the current owner bf the Project site. Theinformation shall contain the name and address of the current owner and the anticipated escrow closing

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date. This requirement currently exists in the CDLAC QRRP application, a document Incorporated by

reference, but was not included in the CDLAC regulations.

Chanter 2 Article 3 Section 5190(fl Legislative Districts and Census Tracts

Necessitv::Applicants shall provide the Federal Congressional District, State Senate District, State

Assembly District, and Census Tract of the Project. This requirement currently exists in the CDLAC

QRRP application, a document incorporated by reference, but was not included in the CDLAC

regulations. ,

c:hapterl article .s ~ecuon~iyv~e~ rnoriax-~xempc.vuocacionr~waru

Necessity: Applicants shall provide information related to any prior allocation award and the reason for

the new request. 'this requirement currently exists in the CDLAC QRRP application, a document

incorporated by reference, but was not previously included in the CDLAC regulations.

Chanter 2 Article 3 Section 5190(h). Proiect Description.

Necessity: Applicants shall provide a description of the proposed Project. The description must contain

at minimum the number of acres of the. site; a description of the surrounding neighborhood; the targeted

population for: the project the expected start and completion dates 9f construction; physical features of

the project; unit configuration; unit amenities; scope of work; and any unique features of the project. This

requirement currently exists in the. CDLAC QRRP application, a document incorporated by reference, but

was not previously included in the CDLAC regulations.

Chapter 2 Article 3 Section 5190(1). Detailed Unit Affordability Information.

Necessity: Applicants shall provide a breakdown of Project unit types, size, number of units, proposed

tenant-paid rent, monthly utility allowances (if any), subsidies (if any) and unit percentage of Area

Median income (AMA level based on monthly Gross Rent. This requirement currently,exists in the

CDLAC QRRP application, a document incorporated by reference, but was not previously included. in the

CDLAC regulations.

Chapter 2 Article 3 Section 5191(c). Utility Allowance Evidence.

Necessity: Points will no longer be awarded to Projects subject to the use of Gross Rent as defined by

Section 5170. In addition, the utility allowance evidence previously used to validate Gross Rent Points,

will now be a threshold requirement. This evidence will be used to confirm that the Gross Rent figures

identified in the QRRP application aze consistent. with local government utility allowance limits and tax

credit rent,limts; and do not result in an overpayment of tenant-paid rent.

Chapter 2 Article 3 Section 5193 (b) (cl and (d) Debt Service Covera¢e Ratio.

Necessity: ;the proposed regulation will memorialize debt service coverage. ratio requirements that must

be included in the CDLAC Application: These requirements currently exist in the CDLAC QRRP

application, a document incorporated by reference, but were not included in the CDLAC tegularions.

Chanter 2 Articte 3 Section 5194 (al tluu (e). Project Sources and Costs.

Necessity: the proposed regulation will memorialize various sources and uses requirements that must be

included in the CDLAC Application. These requuemen2s currently exist in the C➢LAC QRRPapplication, a documenC incorporated by reference, but were not included in the CDLAC regulations.

Chapter 2 Article 6 Section 5212 Capital Needs Assessment.

Necessity:. To ensure the CapitalNeeds Assessment; contains the most current outline of project

rehabilitation needs, the proposed regulations will now require that not only the report date be within 180

days of the applicable application deadline but that the inspection date of the property also be within the

180 days of the application deadline as opposed to one year from this deadline. This requirement is also

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consistent with the current California Tax Credit Allocation Committee (TCAC) requirement. Inaddition, the proposed changes will require resyndication projects to demonstrate in the pre-rehabilitationcapital needs assessment a rehabilitation need of at least $5000 per unit over the first three years (i.e., theshort-term work period), unless the project receives a waiver from the transfer event requirements of Title4, Division 17, Chapter 1, Section 10320(b)(4). The proposed change is to ensure that Cax exempt boardallocation is awarded only to projects facing at least some minimal rehabilitation need in the near future.Staff believes that projects that do not face short term needs but want to upgrade can wait to resyndicateuntil such time as the property has minimal rehabilitation needs. CDLAC remains committed to providingbond allocation to resyndications, but absent an immediate rehabilitation need, staff sees no need to awardallocation to such a large number of projects on a 15-year cycle as opposed to a longer cycle. A lateraward also has the added benefit of extending the original term of affordability out even further.

Chanter 2, Article 7 Section 5220(d~2). Reaulatory ComplianceNecessity: Capitalize "special needs" as it is proposed to be a defined term in the regulations.

Chapter 2, Article 8, Section 5230(d)(1).Necessity: Gross Rent points will no longer be awarded to projects that are required to utilize Gross Rentas defined in Chapter 2, Article 1, Section 5170. Instead, the utility allowance evidence previouslyprovided under this point category for those projects required to utilize Gross Rent will be a CDLACthreshold requirement as specified in Section 5191(c) of these proposed regulations. Given that thespecified projects are already required to use Gross Rent when calculating maximum rents, it is importantthat the evidence be provided to CDLAC staff in the application so that it can be confirmed that theapplicant has not overstated the amount of rent that may be collected.

Chapter2, Article 8, Section 5230(~B)2.Necessity: The California Utility Allowance Calculator (CUAC) is a tool to establish utility allowancesthat are project-specific based on the energy efficiency and energy generation of a project. The current'regulations restrict use of the CUAC to new construction projects and to those projects in the existingTCAC portFo~io that receive Multifamily Affordable Solar Housing (MASH) program awards and offsettenant loads. The regulations also require submittal of a CUAC to a TCAC-contracted quality controlreview at placed in service.

The proposed changes direct Applicants to fhe Tax Credit Allocation Committee's (TCAC) aligningrequirements for bond and 4%tax credit projects whIle also expanding the universe of projects that mayuse the CUAC to 1) all rehabilitation projects seeking a new or renewed reservation of tax credits (i.e.,both resyndication and fast-time syndication projects), and 2) projects in the existing TCAC portfoliowith new photovoltaics installed through a municipal utility or joinC powers authority solar program,which offset tenant loads. Allowing these projects to use the CUAC will facilitate greater energyefficiency and the increased usage of on-site energy generation. The CUAC is designed to set a moreaccurate project-specific utility allowance for more sustainable projects (all rehabilitation projects mustimprove energy efficiency by at least 10%), which in turn increases the portion of the gross rent that canbe leveraged to finance improvements. The tenants continue to benefit from a utility allowance that isappropriate to their units.

Like projects that may already use the CUAC, the proposed regulations require all projects using theCUAC to submit the CUAC at placed in service for quality control review and pay a fee to cover the cost.While not a requirement, TCAC highly encourages rehabilitation projects seeking tax credits also tosubmit their inputs relevant to the existing conditions of the building for quality control review atapplication (for which the cost will also be charged to the applicant but which will not delay the review ofthe application or reservation of credits). This will avoid a situation in which the applicant makes designand expenditure decisions based on projected CUAC allowances that later prove to be inaccurate as a

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result of the PIS quality control review. TCAC reports that theassumption selected for the existing

building conditions often require adjustment. In the absence of a quality control review at application, the

applicant bears full risk for a ohange in the£UAC allowances based on the PIS quality control review.

TCAC will not approve CUAC allowances other than those substantiated by the quality control review...

Similarly, the proposed changes expand the requirement to notify tenants in advance of Uie utility

allowance change and the requirement Yo report actual rent increases to TCAC to rehabilitation projects.

The proposed changes do not subject rehabilitation projects seeking tax credits to the cash flow

requirements as these projects already must meet the cash flow parameters of,Section 10327(g)(6).

Lastly, the proposed changes allow CUAC projects with existing buildings,(i.e.; rehabilitation projects

seeking taz credits aad existing building wiTh awards from the specified programs) to use either oftwo

calculators to determine solar values: 1) the CEC Photovoltaic Calculator akeady cited, and 2) the

Expected Performance Based Buydown (EPBB) calculator, in which case the applicant shall use monthly

scalars to be determined by TCAC to convert annual values to monthly values. The EPBB calculator is

not appropriate for new. construction projects.

Chanter 2 Article 8' Section 5230(kl(1) and Section 5230(k)(2) -Sustainable Methods

Necessity: At the request of the licensed architect community, a reference to the Business and

Professions Code's definition of "certification" has been added to clarify that certification by a licensed

architect does noC constituTe a warranty or guarantee..Instead, the licensed architects cerCification

constitutes a professional opinion regarding the facts and/or findings that are the subject of the

certification.

Chanter 2 Article 8 Section 5233(b} Allocation Limits.

Necessity: The annual state ceiling on tax exempt bonds is a limited resource. In California, a large

percentage of the annual state ceiling is reserved by CDLAC for Qualified Residential Rental Program

(QRRP) Projects as a prioriTy. In an effort to ensure that this limited resource is allocated in the most

economical manner possible and that it assists the greatest number of QRRP projects possible, the

proposed regulations will limit the amount of allocation a QRRP Project may request while still allowing

Projects utilizing 4%tax credits'to:meet the CA Tax Credit Allocation Committee's 50%test which

requires that CDLAC allocation account for at least 50% of the Project's aggregate basis (land plus

depreciable assets). To'ensure that the test is met and to account'for possible cost ovemias that are

common among multifamily housing projects, the proposed regulations establish that an allocation award

per Project will be limited to a maximum of 65% of the Project's total aggregate basis as determined by a

3rd party certification prepared in accordance with Title 4, Division 17, Chapter 1, Section 10322(e)(2).

Chapter 2 Article 9"Section 5240 'Supplemental Allocation Process

Necessity: Subsection (a) is proposed to have the word "electronically" added to ensure requests for

supplemental allocations are submitted by that means. Subsection (b) would have the'additional words

"submitted by the Applicant and" to mirror CDLAC's intent that Issuers, not project sponsors, submit

requests for supplemental allocations. Subsection (b) also would list two additional requirements;'

Attachment N and Attachment Y These are Attachment N: Evidence of local approvals and zoning (form

provided by CDLAC). (See Section 5190(b) of the CDLACRegulations.) Attachment Y: Responses to

PART V —Legal Status of Applicant and Project Sponsor.

Chapter 2 Article 10 Section 5250(a) —Scattered Site Application requirements

Necessity: This subsection proposes that project sites within a Scattered Site Applications axe no longer

required to meet Section 5191 of the CDLAC regulations as individuat project sites. Instead the scattered

site application and all sites within it will be evaluated as a single project. This is consistent wifli the

existing CA Tax Credit Allocation Committee evaluation methodology and reflects CDLAC's

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understanding that from an underwriting prospective, the property portfolio or "Scattered Site" project isevaluated by various fiznding sources as a single project for financing and debt service purposes Torequire individual site evaluation contradicts this idea. As a result of the removal of what had been Thelanguage comprising subsection 5250(a)(1), the subsequent numerical subsections of Section 5250(a),subsections (2) through (6) were moved "up" to subsections (1) through (5).

Chapter 2 Article 10 Section 5250(a)(31(A) Application RequirementsNecessity: Capitalize "special needs" as it is proposed to be a defined term in the regulations.

Chapter 2, Article 13. Section 5259. Allocation Request RequirementsNecessity: Released November 2, 2017, H.R. 1, the Tax Cuts and Jobs Act, proposes the elimination oftax exempt private activity bonds that have not been issued by December 31, 2017. To meet theelimination deadline, CDLAC is proposing an additional allocation round with a modified application andaward process scheduled in December.

Chapter 10. Article 3, Section 5540(fl(3) Evaluation CriteriaNecessiCv: The term "Renewable Enemy" should be capitalized because it is a defined term in theCDLAC regulations

Other Matters Prescribed by Statutes Applicableto the Specific State Agency or to any

SpeciFc Regulation or Class of Regulations

No other matters are prescribed by statute applicable to the Committee or to any specific regulation orclass of regulation pursuant to Section 11346.1(b) or 113A65(a)(4) of the Californda Government Codepertaining to the Emergency Regulations or to the Committee.

Mandate on Local Agencies or School Districts.

The Executive Director of the Committee has determined that the Emergency Regulations do not imposea mandate on local agencies or school districts.

Economic Impact Assessment per Government Code section 11346.3, subdivision (b)

The proposed revisions entail the following:

Lmmaterial Changes1. Streamlining application forms by removing letterhead, a legacy tracking box and CDLAC's address

from above the applicant's signature lines.2. Fixing misspellings and grammar.3. Aligning forms incorporated by reference with the text of regulations.

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Application Process1. Clarify that QRRP applications will be ranked during competitive rounds.2. Expand on language when an application changes issuer.3. Clarify, when There is a Resyndication, that only the most recent issuer is required to report

compliance on a project.4. Define "Special Needs"5. Clarify that requests for supplemental allocations must come from issuers6. Mirror TCAC's recently updated Sustainable Building Standards7. Specify in the regulations requirements previously listed only in forms incorporated by reference.8. Define application conditions for a December 2017 allocation meeting in response to Congress'

proposed tax law changes

Application for and participation in CDLAC's Programs is discretionary and the proposed revisionspertain to program eligibility, compliance and administration issues. Neither the proposed revisions northe CDLAC Regulations as a whole require any person or enCiry to take any action, make any monetaryexpenditure, or refrain from taking any action or making any expenditure. The proposed revisions willnot Gave an effect on the creation or elimination of jobs within the State of California, the creation of newbusinesses or the elimination of existing business within the State of California, the expansion ofbusinesses currently doing business within the State of California, or on small businesses.

Benefits of the ReEulations:

The objectives of these proposed regulations are to clarify application requirements for CDLAC'sallocations

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