Agenda 03/24/2009 (2) - Laserfiche WebLink

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Units: . Unit Sizes: 1 BR/IBA = 750 sq ft; 2 BR/1.5 BA = 980 sq ft; 3 BR/2BA = 1,200 sq ft . All units will meet Universal Design standards . 5% of units will meet Accessible standards per Uniform Federal Accessibility Standards (UF AS) . Other features/amenities: refinished original wood floors, exposed wood beams and ceilings, lighted ceiling fans in all bedrooms and den areas, Energy Star kitchen appliances, washer/dryer hookups, low water flow showerheads and faucets, and wiring for high speed internet/cable. Other Common Amenities: Management office, laundry room(s), furnished computer room, furnished fitness room, community room, green space, furnished playground, and covered parking (approx 45 out of95+ spaces). Representative Resident Support Services . Management facilitated job referral program . Adult Scholarship Program for qualified residents ($2,000/year) . Homeownership counseling and contribution program . Computer and fitness equipment . Youth Recognition Program - students in grades 3-12 rewarded for attendance, academic performance and good behavior Financing . Federal Low Income Housing Tax Credits ($3.5MM) . VA State Historic Tax Credits ($1.3MM) . Federal Historic Tax Credits ($1.2MM) . Market rate mortgage ($0.9MM) . Loan via Community Development Block Grant program ($0.5MM) Project Timeline . March - April 2009 - Rezone property and apply for CDBG funds . May, 2009 - Apply for housing tax credits with Virginia Housing Dev Authority . August, 2009 - VHDA announces winning developments . August, 2009 - May, 2010 - finalize design and prepare for construction . June, 2010 - Begin construction . October, 2011 - Begin marketing and lease up activities . December, 2011 - Complete construction and place project in service Note: As the project is still in preliminary planning stages, all information and projections contained herein are proposed and subject to change.