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20(a) AHAP Contract - Vista BreezeOMB Approval No. 2577–0169 (exp.(04/30/2026)) U.S. Department of Housing and Urban Development Office of Public and Indian Housing SECTION 8 PROJECT-BASED VOUCHER PROGRAM AGREEMENT TO ENTER INTO A HOUSING ASSISTANCE PAYMENTS CONTRACT NEW CONSTRUCTION OR REHABILITATION PART I OMB Burden Statement. The public reporting burden for this collection of information is estimated to average 0.25 hours, including the time for collecting, reviewing and reporting the data. The information is required to establish terms between the PHA and the owner prior to execution of a HAP contract for PBV assistance as provided in §983.152. Assurances of confidentiality are not provided under this collection. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions to reduce this burden, to the Office of Public and Indian Housing, US. Department of Housing and Urban Development, Washington, DC 20410. HUD may not conduct and sponsor, and a person is not required to respond to, a collection of information unless the collection displays a valid control number. Privacy Notice. The Department of Housing and Urban Development (HUD) is authorized to collect the information required on this form by 24 CFR § 983.152. The information is being collected to establish the agreement between the PHA and owner prior to execution of a HAP contract for PBV assistance as provided in §983.153. The Personally Identifiable Information (PII) data collected on this form are not stored or retrieved within a system of record. 1.1 Parties This Agreement to Enter into Housing Assistance Payments Contract (“Agreement”) is between: ___________________________________(“PHA”) and ___________________________________(“owner”). 1.2 Purpose The owner agrees to develop the Housing Assistance Payments Contract (“HAP Contract”) units to in accordance with Exhibit B and to comply with Housing Quality Standards (“HQS”), and the PHA agrees that, upon timely completion of such development in accordance with the terms of the Agreement, the PHA will enter into a HAP Contract with the owner of the Contract units. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 1 of 18 The Housing Authority of the City of Miami Beach Vista Breeze, Ltd. 1.3 Contents of Agreement This Agreement consists of Part I, Part II, and the following Exhibits: EXHIBIT A: The approved owner’s PBV proposal. (Selection of proposals must be in accordance with 24 CFR 983.51.) EXHIBIT B: Description of work to be performed under this Agreement, including: x if the Agreement is for rehabilitation of units, this exhibit must include the rehabilitation work write-up and, where the PHA has determined necessary, specifications and plans. x if the Agreement is for new construction of units, the work description must include the working drawings and specifications. x any additional requirements beyond HQS relating to quality, design and architecture that the PHA requires. x work items resulting from compliance with the design and construction requirements of the Fair Housing Act and implementing regulations at 24 CFR 100.205, the accessibility requirements under section 504 of the Rehabilitation Act of 1973 and implementing regulations at 24 CFR 8.22 and 8.23, and accessibility requirements under Titles II and III of the Americans with Disabilities Act at 28 CFR parts 35 and 36, as applicable. EXHIBIT C: Description of housing, including: project site. total number of units in project covered by this Agreement. x x locations of contract units on site. number of contract units by area (size) and number of bedrooms and bathrooms. x x services, maintenance, or equipment to be supplied by the owner without charges in addition to the rent to owner. x utilities available to the contract units, including a specification of utility services to be paid by the owner (without charges in addition to rent) and utility services to be paid by the tenant. x Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 2 of 18 x estimated initial rent to owner for the contract units. EXHIBIT D: The HAP contract. 1.4 Significant Dates A. Effective Date of the Agreement: The Agreement must be executed promptly after PHA notice of proposal selection to the owner has been given. The PHA may not enter this Agreement with the owner until a subsidy layering review has been performed and an environmental review has been satisfactorily completed in accordance with HUD requirements. B. A project may either be a single-stage or multi-stage project. A single- stage project will have the same Agreement effective date for all contract units. A multi-stage project will separate effective dates for each stage. _____ Single-stage project i. Effective Date for all contract units:____________ ii. Date of Commencement of the Work: The date for commencement of work is not later than ___________ calendar days after the effective date of this Agreement. iii. Time for Completion of Work: The date for completion of the work is not later than ______________calendar days after the effective date of this Agreement. _____ Multi-Stage Project Enter the information for each stage upon execution of the Agreement for the corresponding stage. STAGE NUMBER OF UNITS EFFECTIVE DATE DATE OF COMMENCEMENT OF WORK TIME FOR COMPLETION OF WORK Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 3 of 18 12/20/23 20 480 ✔ 1.5 Nature of the Work _____ This Agreement is for New Construction of units to be assisted by the project-based Voucher program. _____ This Agreement is for Rehabilitation of units to be assisted by the project- based Voucher program. 1.6 Schedule of Completion A. Timely Performance of Work: The owner agrees to begin work no later than the date for commencement of work as stated in Section 1.4. In the event the work is not commenced, diligently continued and completed as required under this Agreement, the PHA may terminate this Agreement or take other appropriate action. The owner agrees to report promptly to the PHA the date work is commenced and furnish the PHA with progress reports as required by the PHA. B. Time for Completion: All work must be completed no later than the end of the period stated in Section 1.4. Where completion in stages is provided for, work related to units included in each stage shall be completed by the stage completion date and all work on all stages must be completed no later than the end of the period stated in Section 1.4. C. Delays: If there is a delay in the completion due to unforeseen factors beyond the owner’s control as determined by the PHA, the PHA agrees to extend the time for completion for an appropriate period as determined by the PHA in accordance with HUD requirements. 1.7 Changes in Work A. The owner must obtain prior PHA approval for any change from the work specific in Exhibit B which would alter the design or quality of the rehabilitation or construction. The PHA is not required to approve any changes requested by the owner. PHA approval of any change may be conditioned on establishment of a lower initial rent to owner at the amounts determined by PHA. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 4 of 18 ✔ B. If the owner makes any changes in the work without prior PHA approval, the PHA may establish lower initial rents to owner at the amounts determined by PHA in accordance with HUD requirements. C. The PHA (or HUD in the case of insured or coinsured mortgages) may inspect the work during rehabilitation or construction to ensure that work is proceeding on schedule, is being accomplished in accordance with the terms of the Agreement, meets the level of material described in Exhibit B and meets typical levels of workmanship for the area. 1.8 Work completion A. Conformance with Exhibit B: The work must be completed in accordance with Exhibit B. The owner is solely responsible for completion of the work. B. Evidence of Completion: When the work in completed, the owner must provide the PHA with the following: 1. A certification by the owner that the work has been completed in accordance with the HQS and all requirements of this Agreement. 2. A certification by the owner that the owner has complied with labor standards and equal opportunity requirements in the development of the housing. (See 24 CFR 983.155(b)(1)(ii).) 3. Additional Evidence of Completion: At the discretion of the PHA, or as required by HUD, this Agreement may specify additional documentation that must be submitted by owner as evidence of completion of the housing. Check the following that apply: _____ _____ A certificate of occupancy or other evidence that the contract units comply with local requirements. An architect’s or developer’s certification that the housing complies with: _____ the HQS; _____ State, local, or other building codes; _____ Zoning; Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 5 of 18 ✔ ✔ ✔ ✔ ✔ _____ _____ _____ The rehabilitation work write-up for rehabilitated housing; The work description for newly constructed housing; or Any additional design or quality requirements pursuant to this Agreement. 1.9 Inspection and Acceptance by the PHA of Completed Contract Units A. Completion of Contract Units: Upon receipt of owner notice of completion of Contract units, the PHA shall take the following steps: 1. Review all evidence of completion submitted by owner. 2. Inspect the units to determine if the housing has been completed in accordance with this Agreement, including compliance with the HQS and any additional requirements imposed by the PHA under this Agreement. B. Non-Acceptance: If the PHA determines the work has not been completed in accordance with this Agreement, including non-compliance with the HQS, the PHA shall promptly notify the owner of this decision and the reasons for the non-acceptance. The parties must not enter into the HAP contract. C. Acceptance: If the PHA determines housing has been completed in accordance with this Agreement, and that the owner has submitted all required evidence of completion, the PHA must submit the HAP contract for execution by the owner and must then execute the HAP contract. 1.10 Acceptance where defects Rr deficiencies are reported: A. If other defects or deficiencies exist, the PHA shall determine whether and to what extent the defects or deficiencies are correctable, whether the units will be accepted after correction of defects or deficiencies, and the requirements and procedures for such correction and acceptance. B. Completion in Stages: Where completion in stages is provided for, the procedures of this paragraph shall apply to each stage. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 6 of 18 ✔ 1.11. Execution of HAP Contract A. Time and Execution: Upon acceptance of the units by the PHA, the owner and the PHA execute the HAP contract. B. Completion in Stages: Where completion in stages is provided for the number and types of units in each stage, and the initial rents to owner for such units, shall be separately shown in Exhibit C of the contract for each stage. Upon acceptance of the first stage, the owner shall execute the contract and the signature block provided in the contract for that stage. Upon acceptance of each subsequent stage, the owner shall execute the signature block provided in the contract for such stage. C. Form of Contract: The terms of the contract shall be provided in Exhibit D of this Agreement. There shall be no change in the terms of the contract unless such change is approved by HUD headquarters. Prior to execution by the owner, all blank spaces in the contract shall be completed by the PHA. D. Survival of owner Obligations: Even after execution of the contract, the owner shall continue to be bound by all owner obligations under the Agreement. 1.12 Initial determination of rents $The estimated amount of initial rent to owner shall be established in Exhibit C of this Agreement. %The initial amount of rent to owner is established at the beginning of the HAP contract term. &The estimated and initial contract rent for each unit may in no event exceed the amount authorized in accordance with HUD regulations and requirements. Where the estimated initial rent to owner exceeds the amount authorized in accordance with HUD regulations, the PHA shall establish a lower initial rent to owner, in accordance with HUD regulations and requirements. 1.13 Uniform Relocation Act A. A displaced person must be provided relocation assistance at the levels described in and in accordance with the requirements of the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 7 of 18 (URA) (42 U.S.C. 4201-4655) and implementing regulations at 49 CFR part 24. B. The cost of required relocation assistance may be paid with funds provided by the owner, or with local public funds, or with funds available from other sources. Payment of relocation assistance must be paid in accordance with HUD requirements. C. The acquisition of real property for a project to be assisted under the program is subject to the URA and 49 CFR part 24, subpart B. D. The PHA must require the owner to comply with the URA and 49 CFR part 24. E. In computing a replacement housing payment to a residential tenant displaced as a direct result of privately undertaken rehabilitation or demolition of the real property, the term “initiation of negotiations” means the execution of the Agreement between the owner and the PHA. 1.14 Protection of In-Place Families A. In order to minimize displacement of in-place families, if a unit to be placed under Contract is occupied by an eligible family on the proposal selection date, the in-place family must be placed on the PHA’s waiting list (if they are not already on the list) and, once their continued eligibility is determined, given an absolute selection preference and referred to the project owner for an appropriately sized unit in the project. B. This protection does not apply to families that are not eligible to participate in the program on the proposal selection date. C. The term “in-place family” means an eligible family residing in a proposed contract unit on the proposal selection date. D. Assistance to in-place families may only be provided in accordance with the program regulations and other HUD requirements. 1.15 Termination of Agreement and Contract The Agreement or HAP contract may be terminated upon at least 30 days notice to the owner by the PHA or HUD if the PHA or HUD determines that the contract units were not eligible for selection in conformity with HUD requirements. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 8 of 18 1.16 Rights of HUD if PHA Defaults Under Agreement If HUD determines that the PHA has failed to comply with this Agreement or has failed to take appropriate action to HUD’s satisfaction or as directed by HUD, for enforcement of the PHA’s rights under this Agreement, HUD may assume the PHA’s rights and obligations under the Agreement, and may perform the obligations and enforce the rights of the PHA under the Agreement. HUD will, if it determines that the owner is not in default, pay Annual Contributions for the purpose of providing housing assistance payments with respect to the dwelling unit(s) under this Agreement for the duration of the HAP contract. 1.17 Owner Default and PHA Remedies A. Owner Default Any of the following is a default by the owner under the Agreement: 1. The owner has failed to comply with any obligation under the Agreement. 2. The owner has violated any obligation under any other housing assistance payments contract under Section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f). 3. The owner has committed any fraud or made any false statement to the PHA or HUD in connection with the Agreement. 4. The owner has committed fraud, bribery, or any other corrupt or criminal act in connection with any Federal housing assistance program. 5. If the property where the contract units are located is subject to a lien or security interest securing a HUD loan or mortgage insured by HUD and: a. The owner has failed to comply with the regulations for the applicable HUD loan or mortgage insurance program, with the mortgage or mortgage note, or with the regulatory agreement; or b. The owner has committed fraud, bribery, or any other corrupt or criminal act in connection with the HUD loan or HUD-insured mortgage. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 9 of 18 6. The owner has engaged in any drug-related criminal activity or any violent criminal activity. B. PHA Remedies 1. If the PHA determines that a breach has occurred, the PHA may exercise any of its rights or remedies under the Agreement. 2. The PHA must notify the owner in writing of such determination. The notice by the PHA to the owner may require the owner to take corrective action (as verified by the PHA) by a time prescribed in the notice. 3. The PHA’s rights and remedies under the Agreement include but are not limited to: (i) terminating the Agreement; and (ii) declining to execute the HAP contract for some or all of the units. C. PHA Remedy is not Waived The PHA’s exercise or non-exercise of any remedy for owner breach of the Agreement is not a waiver of the right to exercise that remedy or any other right or remedy at any time. 1.18 PHA and Owner Relation to Third Parties A. Selection and Performance of Contractor 1. The PHA has not assumed any responsibility or liability to the owner, or any other party for performance of any contractor, subcontractor or supplier, whether or not listed by the PHA as a qualified contractor or supplier under the program. The selection of a contractor, subcontractor or supplier is the sole responsibility of the owner and the PHA is not involved in any relationship between the owner and any contractor, subcontractor or supplier. 2. The owner must select a competent contractor to undertake rehabilitation or construction. The owner agrees to require from each prospective contractor a certification that neither the contractor nor its principals is presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation in contract by the Comptroller General or any federal Department or agency. The owner agrees not to award contracts to, otherwise engage in the service of, or fund any contractor that does not provide this certification. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 10 of 18 B. Injury Resulting from Work under the Agreement: The PHA has not assumed any responsibility for or liability to any person, including a worker or a resident of the unit undergoing work pursuant to this Agreement, injured as a result of the work or as a result of any other action or failure to act by the owner, or any contractor, subcontractor or supplier. C. Legal Relationship: The owner is not the agent of the PHA and this Agreement does not create or affect any relationship between the PHA and any lender to the owner or any suppliers, employees, contractor or subcontractors used by the owner in the implementation of the Agreement. D. Exclusion of Third Party Claims: Nothing in this Agreement shall be construed as creating any right of any third party (other than HUD) to enforce any provision of this Agreement or the Contract, or to assert any claim against HUD, the PHA or the owner under the Agreement or the Contract. E. Exclusion of owner Claims against HUD: Nothing in this Agreement shall be construed as creating any right of the owner to assert any claim against HUD. 1.19 PHA-Owned Units Notwithstanding Section 1.18 of this Agreement, a PHA may own units assisted under the project-based voucher program, subject to the special requirements in 24 CFR 983.59 regarding PHA-owned units. 1.20 Conflict of Interest A. Interest of Members, Officers, or Employees of PHA, Members of Local Governing Body, or Other Public Officials 1. No present or former member or officer of the PHA (except tenant-commissioners), no employee of the PHA who formulates policy or influences decisions with respect to the housing choice voucher program or project-based voucher program, and no public official or member of a governing body or State or local legislator who exercises functions or responsibilities with respect to these programs, shall have any direct or indirect interest, during his or her tenure or for one year thereafter, in the Agreement or HAP contract. 2. HUD may waive this provision for good cause. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 11 of 18 B. Disclosure The owner has disclosed to the PHA any interest that would be a violation of the Agreement or HAP contract. The owner must fully and promptly update such disclosures. 1.21 Interest of Member or Delegate to Congress No member of or delegate to the Congress of the United States of America or resident-commissioner shall be admitted to any share or part of the Agreement or HAP contract or to any benefits arising from the Agreement of HAP contract. 1.22 Transfer of the Agreement, HAP Contract, or Property A. PHA Consent to Transfer The owner agrees that the owner has not made and will not make any transfer in any form, including any sale or assignment, of the Agreement, HAP contract, or the property without the prior written consent of the PHA. A change in ownership in the owner, such as a stock transfer or transfer of the interest of a limited partner, is not subject to the provisions of this section. Transfer of the interest of a general partner is subject to the provisions of this section. B. Procedure for PHA Acceptance of Transferee Where the owner requests the consent of the PHA for a transfer in any form, including any sale or assignment, of the Agreement, the HAP contract, or the property, the PHA must consent to a transfer of the Agreement or HAP contract if the transferee agrees in writing (in a form acceptable to the PHA) to comply with all the terms of the Agreement and HAP contract, if the transferee is acceptable to the PHA. The PHA’s criteria for acceptance of the transferee must be in accordance with HUD requirements. C. When Transfer is Prohibited The PHA will not consent to the transfer if any transferee, or any principal or interested party, is debarred, suspended, subject to a limited denial of participation, or otherwise excluded under 2 CFR part 2424, or is listed on the U.S. General Services Administration list of parties excluded from Federal procurement or nonprocurement programs. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 12 of 18 1.23 Exclusion from Federal Programs A. Federal Requirements The owner must comply with and is subject to requirements of 2 CFR part 2424. B. Disclosure The owner certifies that: 1. The owner has disclosed to the PHA the identity of the owner and any principal or interested party. 2. Neither the owner nor any principal or interested party is listed on the U.S. General Services Administration list of parties excluded from Federal procurement and nonprocurement programs; and none of such parties are debarred, suspended, subject to a limited denial of participation, or otherwise excluded under 2 CFR part 2424. 1.24 Lobbying Certifications A. The owner certifies, to the best of the owner’s knowledge and belief, that: 1. No Federally appropriated funds have been paid or will be paid, by or on behalf of the owner, to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the awarding of the Agreement or HAP contract, or the extension, continuation, renewal, amendment, or modification of the HAP contract. 2. If any funds other than Federally appropriated funds have been paid or will be paid to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the Agreement or HAP contract, the owner must complete and submit Standard Form- LLL, “Disclosure Form to Report Lobbying,” in accordance with its instructions. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 13 of 18 B. This certification by the owner is a prerequisite for making or entering into this transaction imposed by 31 U.S.C. 1352. 1.25 Subsidy Layering A. Owner Disclosure The owner must disclose to the PHA, in accordance with HUD requirements, information regarding any related assistance from the Federal government, a State, or a unit of general local government, or any agency or instrumentality thereof, that is made available or is expected to be made available with respect to the contract units. Such related assistance includes, but is not limited to, any loan, grant, guarantee, insurance, payment, rebate, subsidy, credit, tax benefit, or any other form of direct or indirect assistance. B. Limit of Payments Housing assistance payments under the HAP contract must not be more than is necessary, as determined in accordance with HUD requirements, to provide affordable housing after taking account of such related assistance. The PHA will adjust in accordance with HUD requirements the amount of the housing assistance payments to the owner to compensate in whole or in part for such related assistance. 1.26 Prohibition of Discrimination A. The owner may not refuse to lease contract units to, or otherwise discriminate against, any person or family in leasing of a contract unit, because of race, color, religion, sex (including sexual orientation and gender identity), national origin, disability, age, or familial status. B. The owner must comply with the following requirements: 1. The Fair Housing Act (42 U.S.C. 3601–19) and implementing regulations at 24 CFR part 100 et seq.; 2. Executive Order 11063, as amended by Executive Order 12259 (3 CFR 1959–1963 Comp., p. 652, and 3 CFR, 1980 Comp., p. 307) (Equal Opportunity in Housing Programs) and implementing regulations at 24 CFR part 107; Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 14 of 18 3. Title VI of the Civil Rights Act of 1964 (42 U.S.C. 2000d–2000d– 4) (Nondiscrimination in Federally Assisted Programs) and implementing regulations at 24 CFR part 1; 4. The Age Discrimination Act of 1975 (42 U.S.C. 6101–6107) and implementing regulations at 24 CFR part 146; 5. Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794) and implementing regulations at 24 CFR part 8; 6. Title II of the Americans with Disabilities Act, 42 U.S.C. 12101 et seq.; 28 CFR part 35 Executive Order 11246, as amended by Executive Orders 11375, 11478, 12086, and 12107 (3 CFR, 1964–1965 Comp., p. 339; 3 CFR, 1966–1970 Comp., p. 684; 3 CFR, 1966–1970 Comp., p. 803; 3 CFR, 1978 Comp., p. 230; and 3 CFR, 1978 Comp., p. 264, respectively) (Equal Employment Opportunity Programs) and implementing regulations at 41 CFR chapter 60; 7. 8. Executive Order 11625, as amended by Executive Order 12007 (3 C FR, 1971–1975 Comp.., p. 616 and 3 CFR, 1977 Comp., p. 139) CFR, 1977 Comp., p. 393, and 3 CFR, 1987 Comp., p. 245) (Women’s Business Enterprise). (Minority Business Enterprise Development); and 9. Executive Order 12138, as amended by Executive Order 12608 (3 10. HUD’s Equal Access Rule at 24 CFR 5.105. The PHA and the owner must cooperate with HUD in the conducting of compliance reviews and complaint investigations pursuant to all applicable civil rights statutes, Executive Orders, and all related rules and regulations. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 15 of 18 1.27 Owner Duty to Provide Information and Access to HUD and PHA A. The owner must furnish any information pertinent to this Agreement as may be reasonably required from time to time by the PHA or HUD. The owner shall furnish such information in the form and manner required by the PHA or HUD. B. The owner must permit the PHA or HUD or any of their authorized representatives to have access to the premises during normal business hours and, for the purpose of audit and examination, to have access to any books, documents, papers, and records of the owner to the extent necessary to determine compliance with this Agreement. 1.28 Notices and Owner Certifications A. Where the owner is required to give any notice to the PHA pursuant to this Agreement, such notice shall be in writing and shall be given in the manner designated by the PHA. B. Any certification or warranty by the owner pursuant to the Agreement shall be deemed a material representation of fact upon which reliance was placed when this transaction was entered into. 1.29 HUD Requirements A. The Agreement and the HAP contract shall be interpreted and implemented in accordance with all statutory requirements, and will all HUD requirements, including amendments or changes in HUD requirements. The owner agrees to comply with all such laws and HUD requirements. B. HUD requirements are requirements that apply to the project-based voucher program. HUD requirements are issued by HUD Headquarters as regulations, Federal Register notices, or other binding program directives. 1.30 Applicability of Part II Provisions — Check All that Apply ____ Equal Employment Opportunity Section 2.1 applies only to construction contracts of more than $10,000. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 16 of 18 ✔ ____ Labor Standards Requirements Sections 2.3, 2,7, and 2.9 apply only when this Agreement covers nine or more units. ____ Flood Insurance Section 2.10 applies if units are located in areas having special flood hazards and in which flood insurance is available under the National Flood Insurance Program. Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 17 of 18 ✔ ✔ EXECUTION OF THE AGREEMENT I/We, the undersigned, certify under penalty of perjury that the information provided above is true and correct. WARNING: Anyone who knowingly submits a false claim or makes a false statement is subject to criminal and/or civil penalties, including confinement for up to 5 years, fines, and civil and administrative penalties. (18 U.S.C. §§ 287, 1001, 1010, 1012; 31 U.S.C. §3729, 3802). PUBLIC HOUSING AGENCY (PHA) Name of PHA (Print) By: Signature of authorized representative Name and official title (Print) Date OWNER Name of Owner (Print) By: Signature of authorized representative Name and official title (Print) Date Agreement to Enter into a PBV HAP Contract HUD 52531A, Part 1 of 2 Previous Editions are obsolete (04/2023) Page 18 of 18 The Housing Authority of the City of Miami Beach Miguell Del Campillo, Executive Director Vista Breeze, Ltd. Kenneth Naylor, Vice President of the Managing General Partner December 15, 2023 December 15, 2023 OMB Approval No. 2577–0169 (exp. 04/30/2026) Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 1 of 15 (4/2023) U.S. Department of Housing and Urban Development Office of Public and Indian Housing SECTION 8 PROJECT-BASED VOUCHER PROGRAM AGREEMENT TO ENTER INTO A HOUSING ASSISTANCE PAYMENTS CONTRACT NEW CONSTRUCTION OR REHABILITATION PART II OMB Burden Statement. The public reporting burden for this collection of information is estimated to average 0.25 hours, including the time for collecting, reviewing and reporting the data. This form is required to establish terms between a PHA and owner to provide housing assistance. Assurances of confidentiality are not provided under this collection. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions to reduce this burden, to the Office of Public and Indian Housing, US. Department of Housing and Urban Development, Washington, DC 20410. HUD may not conduct and sponsor, and a person is not required to respond to, a collection of information unless the collection displays a valid control number. 2.1 Equal Employment Opportunity A. The owner shall incorporate or cause to be incorporated into any contract in excess of $10,000 for construction work, or modification thereof, as defined in the regulations of the Secretary of Labor at 41 CFR chapter 60, which is to be performed pursuant to this Agreement, the following nondiscrimination clause: During the performance of this contract, the contractor agrees as follows: 1. The contractor will not discriminate against any employee or applicant for employment because of race, color, creed, religion, sex, or national origin. The contractor will take affirmative action to ensure that applicants are employed, and that employees are treated during employment, without regard to their race, color, religion, creed, sex, or national origin. Such action shall include, but not be limited to, the following: employment, upgrading, demotion, or transfer; recruitment or recruitment advertising; layoffs or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. The contractor agrees to post in conspicuous places, available to employees and applicants for employment, notices to be provided Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 2 of 15 (4/2023) by the contracting officer setting forth the provisions of this nondiscrimination clause. 2. The contractor will, in all solicitations or advertisements for employees placed by or on behalf of the contractor, state that all qualified applicants will receive consideration for employment without regard to race, color, religion, creed, sex, or national origin. 3. The contractor will send to each labor union or representative of workers with which the contractor has a collective bargaining agreement or other contract or understanding, a notice to be provided by or at the direction of the Government advising the labor union or workers representative of the contractor’s commitments under this section and shall post copies of the notice in conspicuous places available to employees and applicants for employment. 4. The contractor of will comply with all provisions of Executive Order No. 11246 of September 24, 1965, and with the rules, regulations, and relevant orders of the Secretary of Labor. 5. The contractor will furnish all information and reports required by Executive Order No. 11246 of September 24, 1965, and by the rules, regulations, and orders of the Secretary of Labor, or pursuant thereto, and will permit access to its books, records, and accounts by HUD and the Secretary of Labor for purposes of investigation to ascertain compliance with such rules, regulations and orders. 6. In the event of the contractor’s noncompliance with the nondiscrimination clauses of this contract or with any of the rules, regulations, or orders, the contract may be canceled, terminated, or suspended in whole or in part and the contractor may be declared ineligible for further contracts in accordance with procedures authorized in Executive Order No. 11246 of September 24, 1965, and such other sanctions as may be imported and remedies invoked as provided in Executive Order No. 11246 of September 24, 1965, or by rule, regulation, or order of the Secretary of Labor or as otherwise provided by law. 7. The contractor will include the provisions of paragraphs (1) through (7) in every subcontract or purchase order unless exempted by the rules, regulations, or orders of the Secretary of Labor issued pursuant to section 204 of Executive Order No. 11246 of September 24, 1965, so th at such provisions will be binding upon each subcontractor or vendor. The contractor will take such action with respect to any subcontract or purchase order Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 3 of 15 (4/2023) as the Government may direct as a means of enforcing such provisions including sanctions for noncompliance; provided, however, that in the event a contractor becomes involved in, or is threatened with, litigation with a subcontractor or vendor as a result of such direction by the Government, the contractor may request the United States to enter into such litigation to protect the interest of the United States. B. The owner agrees to be bound by the above nondiscrimination clause with respect to his or her own employment practices when participating in federally assisted construction work. C. The owner agrees to assist and cooperate actively with HUD and the Secretary of Labor in obtaining the compliance of contractors and subcontractors with the nondiscrimination clause and the rules, regulations, and relevant orders of the Secretary of Labor, to furnish HUD and the Secretary of Labor such information as they may require for the supervision of such compliance, and to otherwise assist HUD in the discharge of HUD’s primary responsibility for securing compliance. D. The owner further agrees to refrain from entering into any contract or contract modification subject to Executive Order No. 11246 of September 24, 1965, with a contractor debarred from, or who has not demonstrated eligibility for, Government contracts and federally assisted construction contracts pursuant to the Executive Order and will carry out such sanctions and penalties for violation of the nondiscrimination clause as may be imposed upon contractors and subcontractors by HUD or the Secretary of Labor pursuant to the Executive Order. In addition, if the owner fails or refuses to comply with these undertakings, HUD may take any or all of the following actions; cancel, terminate, or suspend in whole or in part this Agreement; refrain from extending any further assistance to the owner under the program with respect to which the failure or refusal occurred until satisfactory assurance of future compliance has been received from the owner, and refer the case to the Department of Justice for appropriate legal proceedings. 2.2 Reserved 2.3 HUD—Federal Labor Standards Provisions The owner is responsible for inserting the entire text of section 2.3 of this Agreement in all construction contracts and, if the owner performs any rehabilitation work on the project, the owner must comply with all provisions of section 2.3. (Note: Sections 2.3(b) and (c) apply only when the amount of the prime contract exceeds $100,000.) Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 4 of 15 (4/2023) (a)(1) Minimum Wages. (i) All laborers and mechanics employed or working upon the site of the work (or under the United States Housing Act of 1937 or under the Housing Act of 1949 in the construction or development of the project) will be paid unconditionally and not less often than once a week, and without subsequent deduction or rebate on any account (except such payroll deductions as are permitted by regulations issued by the Secretary of Labor under the Copeland Act (29 CFR part 3)), the full amount of wages and bona fide fringe benefits (or cash equivalents thereof) due at time of payment computed at rates not less than those contained in the wage determination of the Secretary of Labor which is attached hereto and made part hereof regardless of any contractual relationship which may be alleged to exist between the contractor and such laborers and mechanics. Contributions made or costs reasonably anticipated for bona fide fringe benefits under section l(b)(2) of the Davis-Bacon Act on behalf of laborers or mechanics are considered wages paid to such laborers or mechanics, subject to the provisions of 29 CFR 5.5(a)(1)(iv); also, regular contributions made or costs incurred for more than a weekly period (but not less often than quarterly) under plans, funds, or programs, which cover the particular weekly period, are deemed to be constructively made or incurred during such weekly period. Such laborers and mechanics shall be paid the appropriate wage rate and fringe benefits on the wage determination for the classification of work actually performed, without regard to skill, except as provided in 29 CFR 5.5(a)(4). Laborers or mechanics performing work in more than one classification may be compensated at the rate specified for each classification for the time actually worked therein: Provided, That the employer’s payroll records accurately set forth the time spent in each classification in which work is performed. The wage determination (including any additional classification and wage rates conformed under 29 CFR 5.5(a)(1)(ii) and the Davis-Bacon poster (WH- 1321)) shall be posted at all times by the contractor and its subcontractors at the site of the work in a prominent and accessible place where it can be easily seen by the workers. (ii)(A) Any class of laborers or mechanics, including helpers, which is not listed in the wage determination and which is to be employed under the contract shall be classified in conformance with the wage determination. HUD shall approve an additional classification and wage rate and fringe benefits therefore only when the following criteria have been met: Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 5 of 15 (4/2023) (1) The work to be performed by the classification requested is not performed by a classification in the wage determination; (2) The classification is utilized in the area by the construction industry; and (3) The proposed wage rate, including any bona fide fringe benefits, bears a reasonable relationship to the wage rates contained in the wage determination. (B) If the contractor and the laborers and mechanics to be employed in the classification (if known), or their representatives, and HUD or its designee agree on the classification and wage rate (including the amount designated for fringe benefits where appropriate), a report of the action taken shall be sent by HUD or its designee to the Administrator of the Wage and Hour Division, U.S. Department of Labor, Washington, D. C. 20210. The Administrator, or an authorized representative, will approve, modify, or disapprove every additional classification action within 30 days of receipt and so advise HUD or its designee or will notify HUD or its designee within the 30-day period that additional time is necessary. (C) In the event the contractor, the laborers or mechanics to be employed in the classification or their representatives, and HUD or its designee do not agree on the proposed classification and wage rate (including the amount designated for fringe benefits, where appropriate), HUD or its designee shall refer the questions, including the views of all interested parties and the recommendation of HUD or its designee, to the Administrator for determination. The Administrator, or an authorized representative, will issue a determination within 30 days of receipt and so advise HUD or its designee or will notify HUD or its designee within the 30-day period that additional time is necessary. (D) The wage rate (including fringe benefits where appropriate) determined pursuant to subparagraphs (1)(B) or (C) of this paragraph, shall be paid to all workers performing work in the classification under this contract from the first day on which work is performed in the classification. (iii) Whenever the minimum wage rate prescribed in the contract for a class of laborers or mechanics includes a fringe benefit which is not expressed as an hourly rate, the contractor shall either pay the benefit as stated in the wage determinations or shall pay another bona fide fringe benefit or an hourly cash equivalent thereof. Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 6 of 15 (4/2023) (iv) If the contractor does not make payments to a trustee or other third person, the contractor may consider as part of the wages of any laborer or mechanic the amount of any costs reasonably anticipated in providing bona fide fringe benefits under a plan or program: Provided, That the Secretary of Labor has found, upon the written request of the contractor, that the applicable standards of the Davis-Bacon Act have been met. The Secretary of Labor may require the contractor to set aside in a separate account assets for the meeting of obligations under the plan or program. (2) Withholding. HUD or its designee shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld from the contractors under this contract or any other Federal contract with the same prime contractor, or any other Federally-assisted contract subject to Davis-Bacon prevailing wage requirements, which is held by the same prime contractor so much of the accrued payments or advances as may be considered necessary to pay laborers and mechanics, including apprentices, trainees and helpers, employed by the contractor or any subcontractor the full amount of wages required by the contract. In the event of failure to pay any laborer or mechanic, including any apprentice, trainee or helper, employed or working on the site of the work (or under the United States Housing Act of 1937 or under the Housing Act of 1949 in the construction or development of the project), all or part of the wages required by the contract, HUD or its designee may, after written notice to the contractor, sponsor, applicant, or owner, take such action as may be necessary to cause the suspension of any further payment, advance, or guarantee of funds until such violations have ceased. HUD or its designee may, after written notice to the contractor, disburse such amounts withheld for and on account of the contractor or subcontractor to the respective employees to whom they are due. (3)(i) Payrolls and Basic Records. Payrolls and basic records relating thereto shall be maintained by the contractor during the course of the work and preserved for a period of three years thereafter for all laborers and mechanics working at the site of the work (or under the United States Housing Act of 1937, or under the Housing Act of 1949, in the construction or development of the project). Such records shall contain the name, address, and social security number of each such worker, his or her correct classification, hourly rates of wages paid (including rates of contributions or costs anticipated for bona fide fringe benefits or cash equivalents thereof of the types described in section l(b)(2)(B) of the Davis-Bacon Act), daily and weekly number of hours worked, deductions made and actual wages paid. Whenever the Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 7 of 15 (4/2023) Secretary of Labor has found under 29 CFR 5.5 (a)(1)(iv) that the wages of any laborer or mechanic include the amount of any costs reasonably anticipated in providing benefits under a plan or program described in section l(b)(2)(B) of the Davis-Bacon Act, the contractor shall maintain records which show that the commitment to provide such benefits is enforceable, that the plan or program is financially responsible, and that the plan or program has been communicated in writing to the laborers or mechanics affected, and records which show the costs anticipated or the actual cost incurred in providing such benefits. Contractors employing apprentices or trainees under approved programs shall maintain written evidence of the registration of apprenticeship programs and certification of trainee programs, the registration of the apprentices and trainees, and the ratios and wage rates prescribed in the applicable programs. (ii)(A) The contractor shall submit weekly for each week in which any contract work is performed a copy of all payrolls to HUD the PHA. The payrolls submitted shall set out accurately and completely all of the information required to be maintained under 29 CFR 5.5(a)(3)(i), except that full social security numbers and home addresses shall not be included in weekly transmittals. Instead the payrolls shall only need to include an individually identifying number for each employee (e.g. the last four digits of the employee’s social security number). The required weekly payroll information may be submitted in any form desired. Optional Form WH–347 is available for this purpose from the Wage and Hour Division Web site at: http://www.dol.gov/esa/whd/forms/wh347instr.htm or its successor site. The prime contractor is responsible for the submission of copies of payrolls by all subcontractors. Contractors and subcontractors shall maintain the full social security number and current address of each covered worker, and shall provide them upon request to HUD or its designee if the agency is a party to the contract, but if the agency is not such a party, the contractor will submit them to the applicant, sponsor, or owner, as the case may be, for transmission to HUD, the contractor, or the Wage and Hour Division of the Department of Labor for purposes of an investigation or audit of compliance with prevailing wage requirements. It is not a violation of this section for a prime contractor to require a subcontractor to provide addresses and social security numbers to the prime contractor for its own records, without weekly submission to the sponsoring government agency (or the applicant, sponsor, or owner). (B) Each payroll submitted shall be accompanied by a “Statement of Compliance,” signed by the contractor or subcontractor or his Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 8 of 15 (4/2023) or her agent who pays or supervises the payment of the persons employed under the contract and shall certify the following: (1) That the payroll for the payroll period contains the information required to be provided under 29 CFR 5.5(a)(3)(ii), the appropriate information is being maintained under 29 CFR 5.5 (a)(3)(i) and that such information is correct and complete; (2) That each laborer or mechanic (including each helper, apprentice, and trainee) employed on the contract during the payroll period has been paid the full weekly wages earned, without rebate, either directly or indirectly, and that no deductions have been made either directly or indirectly from the full wages earned, other than permissible deductions as set forth in 29 CFR part 3; (3) That each laborer or mechanic has been paid not less than the applicable wage rates and fringe benefits or cash equivalents for the classification of work performed, as specified in the applicable wage determination incorporated into the contract. (C) The weekly submission of a properly executed certification set forth on the reverse side of Optional Form WH-347 shall satisfy the requirement for submission of the “Statement of Compliance” required by paragraph (a)(3)(ii)(B) of this section. (D) The falsification of any of the above certifications may subject the contractor or subcontractor to civil or criminal prosecution under section 1001 of Title 18 and section 231 of Title 31 of the United States Code. (iii) The contractor or subcontractor shall make the records required under paragraph (a)(3)(i) of this section available for inspection, copying, or transcription by authorized representatives of HUD or its designee or the Department of Labor, and shall permit such representatives to interview employees during working hours on the job. If the contractor or subcontractor fails to submit the required records or to make them available, HUD or its designee may, after written notice to the contractor, sponsor, applicant, or owner, take such action as may be necessary to cause the suspension of any further payment, advance, or guarantee of funds. Furthermore, failure to submit the required records upon request or to make such records available may be grounds for debarment action pursuant to 29 CFR 5.12. (4) Apprentices and Trainees.(i) Apprentices. Apprentices will be permitted to work at less than the predetermined rate for the work they performed when they are employed pursuant to and Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 9 of 15 (4/2023) individually registered in a bona fide apprenticeship program registered with the U.S. Department of Labor, Employment and Training Administration, Office of Apprenticeship Training, Employer and Labor Services, or with a State Apprenticeship Agency recognized by the Office, or if a person is employed in his or her first 90 days of probationary employment as an apprentice in such an apprenticeship program, who is not individually registered in the program, but who has been certified by the Office of Apprenticeship Training, Employer and Labor Services, or a State Apprenticeship Agency (where appropriate) to be eligible for probationary employment as an apprentice. The allowable ratio of apprentices to journeymen on the job site in any craft classification shall not be greater than the ratio permitted to the contractor as to the entire work force under the registered program. Any worker listed on a payroll at an apprentice wage rate, who is not registered or otherwise employed as stated above, shall be paid not less than the applicable wage rate on the wage determination for the classification of work actually performed. In addition, any apprentice performing work on the job site in excess of the ratio permitted under the registered program shall be paid not less than the applicable wage rate on the wage determination for the work actually performed. Where a contractor is performing construction on a project in a locality other than that in which its program is registered, the ratios and wage rates (expressed in percentages of the journeyman’s hourly rate) specified in the contractor’s or subcontractor’s registered program shall be observed. Every apprentice must be paid at not less than the rate specified in the registered program for the apprentice’s level of progress, expressed as a percentage of the journeymen hourly rate specified in the applicable wage determination. Apprentices shall be paid fringe benefits in accordance with the provisions of the apprenticeship program. If the apprenticeship program does not specify fringe benefits, apprentices must be paid the full amount of fringe benefits listed on the wage determination for the applicable classification. If the Administrator determines that a different practice prevails for the applicable apprentice classification, fringes shall be paid in accordance with that determination. In the event the Office of Apprenticeship Training, Employee and Labor Services, or a State Apprenticeship Agency recognized by the Office, withdraws approval of an apprenticeship program, the contractor will no longer be permitted to utilize apprentices at less than the applicable predetermined rate for the work performed until an acceptable program is approved. (ii) Trainees. Except as provided in 29 CFR 5.16, trainees will not be permitted to work at less than the predetermined rate for the work performed unless they are employed pursuant to and Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 10 of 15 (4/2023) individually registered in a program which has received prior approval, evidenced by formal certification by the U.S. Department of Labor, Employment and Training Administration. The ratio of trainees to journeymen on the job site shall not be greater than permitted under the plan approved by the Employment and Training Administration. Every trainee must be paid at not less than the rate specified in the approved program for the trainee’s level of progress, expressed as a percentage of the journeyman hourly rate specified in the applicable wage determination. Trainees shall be paid fringe benefits in accordance with the provisions of the trainee program. If the trainee program does not mention fringe benefits, trainees shall be paid the full amount of fringe benefits listed on the wage determination unless the Administrator of the Wage and Hour Division determines that there is an apprenticeship program associated with the corresponding journeyman wage rate on the wage determination which provides for less than full fringe benefits for apprentices. Any employee listed on the payroll at a trainee rate who is not registered and participating in a training plan approved by the Employment and Training Administration shall be paid not less than the applicable wage rate on the wage determination for the classification of work actually performed. In addition, any trainee performing work on the job site in excess of the ratio permitted under the registered program shall be paid not less than the applicable wage rate on the wage determination for the work actually performed. In the event the Employment and Training Administration withdraws approval of a training program, the contractor will no longer be permitted to utilize trainees at less than the applicable predetermined rate for the work performed until an acceptable program is approved. (iii) Equal Employment Opportunity. The utilization of apprentices, trainees and journeymen under this part shall be in conformity with the equal employment opportunity requirements of Executive Order 11246, as amended, and 29 CFR part 30. (5) Compliance with Copeland Act Requirements. The contractor shall comply with the requirements of 29 CFR part 3 which are incorporated by reference in this Agreement. (6) Subcontracts. The contractor or subcontractor will insert in any subcontracts the clauses contained in section 2.3(a)(1) through (11) and such other clauses as HUD or its designee may by appropriate instructions require, and also a clause requiring the subcontractors to include these clauses in any lower tier subcontracts. The prime contractor shall be responsible for the Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 11 of 15 (4/2023) compliance by any subcontractor or lower tier subcontractor with all the contract clauses in this section 2.3(a). (7) Contract Terminations; Debarment. A breach of the contract clauses in 29 CFR 5.5 may be grounds for termination of the contract, and for debarment as a contractor and a subcontractor as provided in 29 CFR 5.12. (8) Compliance with Davis-Bacon and Related Act Requirements. All rulings and interpretations of the Davis-Bacon and related Acts contained in 29 CFR parts 1, 3, and 5 are herein incorporated by reference in this contract. (9) Disputes Concerning Labor Standards. Disputes arising out of the labor standards provisions of this contract shall not be subject to the general disputes clause of this contract. Such disputes shall be resolved in accordance with the procedures of the Department of Labor set forth in 29 CFR parts 5, 6, and 7. Disputes within the meaning of this clause include disputes between the contractor (or any of its subcontractors) and the PHA, HUD, the U. S. Department of Labor, or the employees or their representatives. (10) Certification of Eligibility. (i) By entering into this Agreement, the contractor certifies that neither it (nor he or she) nor any person or firm who has an interest in the contractor’s firm is a person or firm ineligible to be awarded Government contracts by virtue of section 3(a) of the Davis-Bacon Act or 29 CFR 5.12(a)(1) or to be awarded HUD contracts or participate in HUD programs pursuant to 24 CFR part 24. (ii) No part of this Agreement shall be subcontracted to any person or firm ineligible for award of a Government contract by virtue of section 3(a) of the Davis-Bacon Act or 29 CFR 5.12(a)(1) or to be awarded HUD contracts or participate in HUD programs pursuant to 24 CFR part 24. (iii) The penalty for making false statements is prescribed in the U.S. Criminal Code, 18 U.S.C. 1001. Additionally, U.S. Criminal Code, section 1010, Title 18, U.S.C., “Federal Housing Administration transactions, provides in part: “Whoever, for the purpose of ...influencing in any way the action of such Administration...makes, utters or publishes any statement, knowing the same to be false... shall be fined not more than $5,000 or imprisoned not more than two years, or both.” 11. Complaints, Proceedings, or Testimony by Employees. No laborer or mechanic to whom the wage, salary, or other labor Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 12 of 15 (4/2023) standards provisions of this Agreement are applicable shall be discharged or in any other manner discriminated against by the Contractor or any subcontractor because such employee has filed any complaint or instituted or caused to be instituted any proceeding or has testified or is about to testify in any proceeding under or relating to the labor standards applicable under this Agreement to his employer. (b) Contract Work Hours and Safety Standards Act. The provisions of this paragraph (b) are applicable only where the amount of the prime contract exceeds $100,000. As used in this paragraph, the terms “laborers” and “mechanics” include watchmen and guards. (1) Overtime Requirements. No contractor or subcontractor contracting for any part of the contract work which may require or involve the employment of laborers or mechanics shall require or permit any such laborer or mechanic in any workweek in which he or she is employed on such work to work in excess of forty hours in such workweek unless such laborer or mechanic receives compensation at a rate not less than one and one-half times the basic rate of pay for all hours worked in excess of forty hours in such workweek. (2) Violation; Liability for Unpaid Wages; Liquidated Damages. In the event of any violation of the clause set forth in subparagraph (1) of this paragraph, the contractor and any subcontractor responsible therefore shall be liable for the unpaid wages. In addition, such contractor and subcontractor shall be liable to the United States (in the case of work done under contract for the District of Columbia or a territory, to such District or to such territory), for liquidated damages. Such liquidated damages shall be computed with respect to each individual laborer or mechanic, including watchmen and guards, employed in violation of the clause set forth in subparagraph (1) of this paragraph, in the sum of $25 for each calendar day on which such individual was required or permitted to work in excess of the standard workweek of forty hours without payment of the overtime wages required by the clause set forth in subparagraph (1) of this paragraph. (3) Withholding for Unpaid Wages and Liquidated Damages. HUD or its designee shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld, from any monies payable on account of work performed by the contractor or subcontractor under any such contract or any other Federal contract with the same prime contractor, or any other Federally-assisted contract subject to the Contract Work Hours and Safety Standards Act, which is held by Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 13 of 15 (4/2023) the same prime contractor such sums as may be determined to be necessary to satisfy any liabilities of such contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set forth in subparagraph (2) of this paragraph. (4) Subcontractors. The contractor or subcontractor shall insert in any subcontracts the clauses set forth in subparagraph (1) through (4) of this paragraph and also a clause requiring the subcontractors to include these clauses in any lower tier subcontracts. The prime contractor shall be responsible for compliance by any subcontractor or lower tier subcontractor with the clauses set forth in subparagraphs (1) through (4) of this paragraph. (c) Health and Safety. The provisions of this paragraph (c) are applicable only where the amount of the prime contract exceeds $100,000. (1) No laborer or mechanic shall be required to work in surroundings or under working conditions which are unsanitary, hazardous or dangerous to his health and safety as established under construction safety and health standards promulgated by the Secretary of Labor by regulation. (2) The contractor shall comply with all regulations issue by the Secretary of Labor pursuant to Title 29 part 1926 and failure to comply may result in imposition of sanctions pursuant to the Contract Work Hours and Safety Standards Act, 40 USC 3701 et seq. (3) The contractor shall include the provisions of this paragraph in every subcontract so that such provisions will be binding on each subcontractor. The contractor shall take such action with respect to any subcontract as the Secretary of Housing and Urban Development or the Secretary of Labor shall direct as a means of enforcing such provisions. Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 14 of 15 (4/2023) 2.4 Reserved 2.5 Reserved 2.6 Reserved 2.7 Wage and Claims Adjustments The owner shall be responsible for the correction of all violations under section 2.3, including violations committed by other contractors. In cases where there is evidence of underpayment of salaries or wages to any laborers or mechanics (including apprentices and trainees) by the owner or other contractor or a failure by the owner or other contractor to submit payrolls and related reports, the owner shall be required to place an amount in escrow, as determined by HUD sufficient to pay persons employed on the work covered by the Agreement the difference between the salaries or wages actually paid such employees for the total number of hours worked and the full amount of wages required under this Agreement, as well as an amount determined by HUD to be sufficient to satisfy any liability of the owner or other contractor for liquidated damages pursuant to section 2.3. The amounts withheld may be disbursed by HUD for and on account of the owner or other contractor to the respective employees to whom they are due, and to the Federal Government in satisfaction of liquidated damages under section 2.3. 2.8 Reserved 2.9 Evidence of Unit(s) Completion; Escrow A. The owner shall evidence the completion of the unit(s) by furnishing the PHA, in addition to the requirements listed in Part I of this Agreement, a certification of compliance with the provisions of sections 2.3 and 2.7 of this Agreement, and that to the best of the owner’s knowledge and belief there are no claims of underpayment to laborers or mechanics in alleged violation of these provisions of the Agreement. In the event there are any such pending claims to the knowledge of the owner, the PHA, or HUD, the owner will place a sufficient amount in escrow, as directed by the PHA or HUD, to assure such payments. B. The escrows required under this section and section 2.7 of shall be paid to HUD, as escrowee, or to an escrowee designated by HUD, and the conditions and manner of releasing such escrows shall be designated and approved by HUD. 2.10 Flood Insurance If the project is located in an area that has been identified by the Federal Emergency Management Agency as an area having special flood hazards and if Agreement to Enter into a PBV HAP Contract HUD 52531B, Part 2 of 2 Previous Editions are obsolete Page 15 of 15 (4/2023) the sale of flood insurance has been made available under the National Flood Insurance Program, the owner agrees that: (1) the project will be covered, during the life of the property, by flood insurance in an amount at least equal to its development or project cost (less estimated land cost) or to the limit of coverage made available with respect to the particular type of property under the National Flood Insurance Act of 1968, whichever is less; and (2) that it will advise any prospective purchaser or transferee of th e property in writing of the continuing statutory requirement to maintain such flood insurance during the life of the property. (;+,%,7$$SSURYHG3%93URSRVDO Tab le of Conte nt s Tab 1: Letter of Interest Tab 2: Respondent's Qualifications Organizational Structure and Staffing Profile of Principals and Key Staff Termination, Suspension, or Disbarment Litigation and Disciplinary History Eligibility to Bid and Contract Previous Housing Development Experience Financing Experience Green Building Experience Capacity Financial Statements Insurance Documentation References Certifications Tab 3: Proposed Development Methods and Strategy Tab 4: Utilization of D/M/WBEs and Section 3 Tab 5: Understanding Local Requirements Tab 6: Project Budget Tab 7: Exhibits Exhibit A Certification of Respondent Regarding DBE/MBE/WBE/Section 3 Requirements Exhibit B-1 Project Chart Exhibit B-2 Project Credit Underwriting Reports Exhibit C Respondent Profile Form Exhibit D References Acknowledgement of Receipt of Amendments/Addendum(a) of Solicitation Additional Exhibits Co-Developer RFQ Checklist 2 4 4 13 18 18 18 18 33 49 51 51 52 57 58 65 72 78 80 85 86 89 92 212 220 221 226 247 July 15, 2019 ATLANTIC ...-!�PACIFIC ---COMMUNITIES--- Housing Authority of the City of Miami Beach 200 Alton Road Miami Beach, FL 33139 Attn: Matthew Garwick, Director of Housing Programs/Operations RE: RFQ# 1-2019 Co-Developer for New Construction in Miami Beach Dear Members of the Evaluation Committee: Atlantic I Pacific Communities, LLC ("A IP") respectfully submits this response to the Request for Qualifications for Co-Developer for New Construction in Miami Beach. As national leaders in affordable housing with deep roots in Miami Beach, we are greatly interested in working with the Housing Authority of the City of Miami Beach {"HACMB"). We believe that our team is uniquely qualified to implement a new, quality affordable housing development that will benefit future residents, neighbors and visitors. A IP is an affiliate of Atlantic I Pacific Companies, a fourth-generation family-owned real estate company with over 125 years of experience in purchasing, developing, leasing and managing residential and commercial properties. Headquartered in Miami, the firm has over $2B in real estate owned; employs over 1,200 people; and has over 40,800 units under management. It is our understanding that the HACMB is seeking an experienced developer to provide housing for low-to moderate-income residents in Miami Beach. We believe we are the most appropriate partner for this endeavor given our track record. The A I P team consists of leaders in affordable housing development, and in particular, complex projects involving true partnerships with local government. Having developed over 11,100 affordable, mixed-income and mixed-financed housing units, as well as community and parking facilities, we believe our experience and versatility will allow us to achieve the HACMB's vision for its sites. We bring a winning combination of financial strength, expertise, and have extensive experience working with municipalities, not for-profits, community groups and residents across the country. Additionally, our team has extensive experience, knowledge and relationships with the City of Miami Beach with five properties developed and 12 properties under management on the Beach. Our strengths include: •Revitalizing South Florida neighborhoods•Developing large-scale, mixed-use, mixed finance affordable and workforce housing•Industry leading experience in developing environmentally sustainable communities•Creating transformative partnerships with housing authorities and local non-profits•Pioneering job training and opportunities•Delivering on commitments to our partners and the community If selected, A I P would serve as the Lead Developer and be responsible for directing and coordinating the development team, and for ensuring the timely and cost-effective completion of all development services. This includes all pre-development activities, obtaining entitlements, securing financing, overseeing the design and all third parties, community outreach, relocation, construction and quality control of the development, marketing and lease up efforts, and management. In addition, A IP will provide all the guarantees required by the lender{s) and equity investor. 3MiamiCentral I 161 NW 6th Street I Suite 1020 I Miami, FL 33136 www.apcompanies.com July 15, 2019 Housing Authority of the C ity of Miami Beach Page 2 A IP Community Builders (a certified and experienced Section 3 firm), along with A IP Community Management, will ensure that D/M/WBE and Section 3 firms and individuals are engaged and employed before, during, and after construction. Since we would be self-performing the construction of the project, we have the unique ability to continue training and providing jobs on future sites as well as developments outside of this RFQ. Our award-winning design team includes Corwil Architects , a locally based firm with strong ties to the community and decades of local, public-private design experience . Since inception in 1992 , they have designed multifamily developments across the public and private sectors and have worked with A IP staff for over 14 years on numerous affordable/workforce housing developments. Abney+Abney Green Solutions , a Green building consulting firm which we have worked with on numerous developments, will ensure we meet LEED Gold certification or equivalent. Our past developments evidence our experience in completing complex, mixed-financed, mixed-income developments with an emphasis on quality and timely performance. We have a strong track record of successfully raising and leveraging capital to provide a sound financial plan for the long-term. We invite you to review our representative experience and credentials highlighted within this response, and we hope that our successful track record will speak for itself. As a member of the Miami Beach community, and as your neighbors (a number of our key principals and staff reside on Miami Beach), we invite you to review our representative experience and credentials highlighted within this response , and we hope that our successful track record will speak for itself. Our team is committed to meeting the needs and desires of the HACMB and community stakeholders and we look forward to collaborating with you to develop a quality affordable housing community you will always be proud of. Please note that this response is firm and irrevocable for ninety (90) days. 3MiomiCentral I 161 NW 6th Street I Suite 1020 I Miami, FL 33136 www.apcomponies.com Tab 2 -Respondent's Qualifications ATLANTIC ...16.PACIFIC -CO M MU NITIE S - Organizational Structure and Staffing (3.E.2.b.1.) AtlanticlPacific Communities, LLC ("AjP"), is the developer subsidiary of AtlanticlPacific Companies, a fourth-generation family-operated real estate company that provides high quality housing to serve every income leve l. AjP Companies has a 125-year track record in purchasing, developing, constructing, leasing, and managing residential and commercial properties; owns $2B of multifamily real estate; employs 1,230 people full-time (with 687 in Miam i-D ade County); manages 40,800 units (with over 17,220 located in Miami-Dade County); and does business in South Florida, Georgia, North Carolina, Washington DC, Maryland, Texas and California. Building on AIP Companies' legacy of owning and managing affordable housing since the 1970's, AIP Commun ities was founded in 2013 to bridge the gap between real estate development and economic develo pment. We connect people, ideas and capital to help communities achieve their true potential. AIP has been consistently ra n ked in Affordable Housing Finance magazine's "Top 50 Affordable Housing Developers" in the country; most rece ntly in April 2019 we were again ranked the largest Florida-based developer of affordable housing in the country. AIP Communities, a Miami-Dade County certified Section 3 firm, would serve as Co -General Partner and Co-Developer to the Housing Authority of the City of Miami Beach ("HACMB") in a full-service capacity, advising HACMB on all sites. In addition, AIP principals would provide all construction, operating, and compliance guarantees required. After stabilization, HACMB will have the option to be the sole partner, developer and manager and have an option and right of first refusal to acquire the development site(s) pursuant to IRS Section 42. Individuals in AIP's leadership team bring over 20 years of affordable and mixed-income housing experience, and to date have closed on more than $2.2 billion in capital and built nearly 10,200 apartment homes in communities ranging from standalone 22-unit buildings to phased neighborhood redevelopments totaling 1,145 units. AIP has extensive experience development and building affordable housing in over 20 different counties in Florida, from the Panhandle down to the Florida Keys. Our widespread experience gives us the requisite knowledge-of the various entitlements processes with local municipalities and utility a uthorities to efficiently complete the design and permitting processes. Its staff has particularly extensive experience working with Miam i-Dade County and with each municipality's permitting agencies, processes, and codes. A/P also has experience in Miami Beach having developed five hote ls on the beach; and is currently managing 12 condominiums with 2,858 units. Our widespread experience gives us the requisite knowledge of the various entitlement processes with local municipalities and utility authorities to efficiently complete the design and permitting processes. Our experience in both market rate and affordable housing development has prompted us to establish and implement a work model that maximizes quality control. Each development is directly managed by a team of AjP Communities staff and consistently monitored by executives from A IP Companies, A jP Community Builders (in-house general contractor) and A /P Community Management (in -house LIHTC property management/compliance agent). This multi-disciplinary approach ensures reliable ex ecution of complex developments that meet all construction, regulatory, and operational qual ity requirements. Development managers atA/P Communities and our in-house general contractor, AIP Community Eiuild ers, work hand in hand with A jP Community Management staff to ensure successful planning and operation of the properties from the pre- development design stage through conversion and stabilization. Our development process begins by putting togeth er an expert team of professio nals across a myriad of specialties who w ill be responsible for the d evelopment from the initial plann ing phases throu gh occupancy. The firms t hat we have chosen to work with are locally bas ed with strong 4 Tab 2 -Respondent 's Qualifications ATLANTIC ~ ... PACIFIC ties to the comm u nity and have decades of direct ex perience working on local neighborhood revita l izati o ns, p u blic-priv ate pl annin g and fi na ncing . AIP has w orked wi t h all of t hese firms for many years on many d evelopments and are very famil i ar with state and l o ca l rul e s, p racti c es and con dit i o ns. If selecte d , the development team be low would work with the City, the local community, and other stakeholders to create a shared vision for the HACMB sites. TEAM MEMBER & ROLE Architect of Record Corwil Architects, Inc. Primary Contact: Alberto Cordoves, President 4210 Laguna Street, Coral Gables1 FL33146 Telephone: 305-448-7383 www.corwilarchitects.com/ Green Consultant Abney + Abney Green Solutions Primary Contact: Kyle Abney, Principal PO Box 919, Palm City, FL 34990 Telephone: 863-634-1045 www.abneygreen.com/ Land Use Counsel Greenberg Traurig Primary Contact: Ryan Bailine 333 SE 2 nd Avenue1 Suite 4400, Miami 1 FL 33131 Telephone: 305-579-0500 www.gtlaw.com HUD Counsel Klein Hornig LLP Primary Contact: Chris Hornig, Partner 1325 G Street NW, #770, Washington, DC 20005 Telephone: 202-842-9006 www.kleinhornig.com/ Special Counsel Radey Law Firm Primary Contact: Donna Blanton, Shareholder 301 South Bronaugh Street1 #200, Tallahassee, FL 32301 Telephone: 850-425-6654 www.radeylaw.com/ Licensed , knowledgeable and experi- enced Miami architect who has worked with AJP staff for the past 14 years on nu- merous multifamily and housing authori - ty developments. Sustainable development consultant and approved certifying agent for all 3 green home certifications in Florida who has worked with AJP staff on numerous devel - opments. Founded in 1967 (Miami office), their at- torneys represent landowners, JV part- ners and entrepreneurs in development significant real estate projects; they pro- vide deep knowledge of local building code and practices. Since 2013 1 the firm has worked with AJP on many sites in Mi- ami. Mix ed-finance, HUD and regulatory spe- cialist who has worked with AJP on nu- merous Florida joint venture develop- ments with public housing authorities and non-profits. Over 13 years of experience working with the AJP team in all matters related to Flori - da Housing Finance Corporation funding applications1 including research and writ- ing Administrative Appeals and Petitions for Rule Waivers. 5 Tab 2 -Respondent's Qualifications ATLANTIC ~ .. PACIFIC TEAM MEMBER & ROLE Corporate Counsel Stearns Weaver Miller Weissler Alhadeff & Sitter- son, P.A. Primary Contact: Brian McDonough 150 West Flagler Street, #2200, Miami, FL 33130 Telephone: 305-789-3362 www.stearnsweaver.com / Accountant Tidwell Group Primary Contact: Chris Thomas, Managing Partner 3102 Bee Caves Road, #102, Austin, TX 78746 Telephone: 512-693 -2180 www.tidwellgroup.com/ General Contractor AtlanticlPacific Community Builders, LLC Primary Contact: Joseph Roig, Vice President 161 NW 6th Street, #1020, Miami, FL 33136 Telephone: 305-357-4700 www.apco m p anies.com/ Property Management and Compliance Atlantic!Pacific Community Management, LLC Primary Contact: Randy Weisburd, President 8609 South Dixie Highway, Pinecrest, FL 33156 Telephone: 305-357-4700 www.a p com pa nies.com/ Architect: Corwil Architects, Inc. Transactional attorneys specializing in working with developers to close on af- fordable housing financing using a full range of funding sources. Since 2013, Stearns has represented AIP Commu- nities in numerous affordable housing transactions and has worked with key staff at AIP for over 20 years. Accounting, tax, and business advisory firm, with over 20 years of public account- ing experience in affordable housing tax credits, bond and conventional financing, HUD compliance and reporting. Tidwell provides services for all the affordable housing properties in AjP Communities portfolio. Bonded, Florida licensed, certified Mi- ami-Dade County Section 3 experienced general contractor and subsidiary of AIP, with over 3,000 affordable and market rate units built or under construction in the last 5 years. Florida Housing Finance Corporation ap- proved affiliate of A/P specializing in af- fordable housing property management, asset management, and compliance with 2,541 LIHTC units currently under man- agement and/or compliance. Corwil Architects ("Corwil"), located in Coral Gables, is licensed to provide professional architectural services in Miami-Dade County and has vast knowledge and experience working in South Florida. Established in 1992, Corwil has established itself as a highly reputable, innovative, and cost-conscious design firm. The firm will work with the development team on the HACMB's Normandy Isle sites, participate in planning meetings, and execute all the drawings required through permitting and construction. Since inception, they have designed over 52 multifamily and mixed-use residential projects across the public and the private sectors . While their experience is diverse, ranging from large mixed- use projects to private residences, new office buildings to tenant improvements, restaurants to fire stations, Corwil's portfolio is primarily comprised of affordable multifamily residential and mixed-use developments. The company is thoroughly familiar with the Florida Building Code and other pertinent 6 Tab 2 -Respondent's Qualificati ons ATLANTIC .._PACIFIC regu lations of South Florid a autho r ities havi ng jurisdiction. Within the pa st ten years Corwil has successfully designed over 7,000 residenti al units of which over 4,000 have been affordable multifamily deve lo pments, including t h e aw a rd-winning Broward County Housing Authority site, LEED For Homes Go ld certif ied East Village in Davie, Florida. Corwi l is ma n aged and operated by princi pa ls, Alberto M. Cordoves and Ena M . Cordoves. Frorn the prelimin a ry design phase thro ugh the development of the construction docu ments, all design conce pts wi ll be directly formulated by on e of t he firm's principals and a senior p roject manager. Alberto M. Cordoves, Principal: Mr. Cordoves, President and founding member of Corwil, brings over thirty years of experience in the design, architectural and construction industry. He manages all client relations, assists in the coordination of programmatic design requ irements and with the selection and specification of systems an d the overall design complia nce. Alb ert Cordoves also assists the constructio n ad min istration team, while providing experience and ins ight i n the day-to-day operations of the firm . Alberto Cordoves received his bachelor's in Architecture from the University of Miami, immediately thereafter he started his career in architecture as a designer and on-site Project Manager. He is a member of the Latin Builders Association and the Construction Specifications Institute . Ena M. Cordoves, Vice President: Mrs. Cordoves was a member of the US Army and served active duty for six years . Upon honorable separation from the service, she attend ed the University of Miam i and graduated with a Bachelor of Science in Eng inee ring . Since graduation, Ena Cordoves has been working with Corwil Architects. She is a member of the Realtor Association of Miami-Dade County and the National Fire Protection Association. Corwil Architects has been the architect of record on numerous AIP Communities' liiljNt:liil!ii mu lti-family affordable and mixed -use developments, the most recent developments are listed in the chart be low. These developments include large-scale sustainable multi-family, urban in-fill, transit-oriented, complex projects ranging from garden-styl e to high-rise residential construction, retail/commercia l spaces, parking structures and community amenities such as community gardens, and a rooftop activity deck with a swimming pool. AjP Development Description Municipal Partner AudreyM.Edmonson Transit 100-unithighrise,amenities,retail, Miami-DadePublicHousing&CommunityDevel- Village II parking garage opment and Transit Island Living Apartments 70-u nit high rise ,amen ities, retail, CityofM iamiSoutheastOvertown/ParkWestCom- parking garage munity Redevelopment Agency North side Transit Village I 100-un ith igh rise,amenities, retail, Miami-DadePublicHousing&CommunityDevel- parking garage opment and Transit Northside Transit Village II 180-unithigh rise,amenities,retail, Miami-DadePublicHousing&CommunityDevel- parking garage opment and Transit NorthsideTransitVillagelV 120-unithighrise,amenities,retail, Miami-DadePublicHousing&CommunityDevel- parking garage opment and Transit ResidencesatDr.King Bou-120-unithighrise,amenities,retail, CityofMiamiHousing&CommunityDevelopment levard parking garage Saratoga Crossings I 128-unitgarden-style,amenities, Dania Beach Housing Authority surface parking 7 Tab 2 -Respondent's Qualifications ATLANTIC .._PACIFIC AIP Development Description Municipal Partner Saratoga Crossings II 44-unit garden-style, amenities, Dania Beach Housing Authority surface parking Washington Square 21-unit garden rehab, 1 SF rehab, Miami-DadePublicHousing&CommunityDevel- 67-unit new high-rise opment Green Building Consultant: Abney+Abney Green Solutions Award winning Abney+Abney Green Solutions ("AbneyGreen") guides project teams through the green building certificatio n process through practical application and comprehensive knowledge. The firm delivers sus tainab le development consulting through a simple framework that is tailored to meet the needs of each project. With over a decade in the field , AbneyGreen guides owners, developers, architects and contractors in all aspects of the green building process. The AIP team and AbneyGreen (and Corwil*) have worked on several LEED certified affordable housing developments, see below. • Audrey M . Edmonson Transit Village, City of Miami -USGBC LEED for Homes Mid-Rise Silver • *Audrey M. Edmonson Transit Village II -ICC 700 NGBS Silver • *Northside Transit Village, Unincorporated Miami -Dade County -USGBC LEED Silver • Northwest Gardens I -V Apartments, Fort Lauderdale -USGBC LEED for Homes Gold • Dr. Kennedy Homes, Fort Lauderdale -USGBC LEED for Homes and LEED for Homes Mid-rise Gold • *East Village Apartments, Davie -USG BC LEED for Homes Gold Kyle M. Abney, Principal, Vice President: Kyle Abney, is one of the most highly respected "built- environment" experts in the southeast. A LEED Accredited Professional, certified Green Globes professional and licensed general contractor, he has Green-Certified over 15,000 residential units. He is an active member of the US Green Building Council having recently served as Vice-Chair of the Florida Chapter (2016-2018). Mr. Kyle Abney graduated with a B.A. in Architectural Design and Master of Building Construction with a Concentration in Sustainable Construction from the University of Florida. Land Use Counsel: Greenberg Traurig The Greenberg Traurig ("GT") Miami office was founded in 1967 and today has one of the longest- standing real estate teams serving clients in Miami Beach and the region . Members of the land development team focus on due diligence investigations, public and private financing, land use entitlement, and construction permitting. T heir environmental and land development practices represent developers, and commercial and industrial businesses in obtaining deve lopment and use approvals, as well as in enforcement, legislative and lobbying matters. They have experience with Miami-Dade County government and every municipal government in Miami-Dade County. Ryan D. Bailine, Shareholder: Bai line focuses his practice on the development of complex real estate project:; together with related land use, financing and permittin g considerations. He represents national and local landowners and developers in a variety of i ndustries, including retail , market rate, and affordable multifamily sectors. He earned his Juris Doctor degree as well as his M.B.A. in International Business from the University of Miami. He was listed in Super Lawyers magazine as a Florida Super Lawyers "Rising Star" in 2015-2016 and 2009-2011. Ryan Bailine has advise AIP Communities on numerous sites including all of the above mentioned Miami-Dade County developments listed in the Corwil Architects chart above . 8 Tab 2 -Respondent's Qualifications ATLANTIC .A.PACIFIC HUD Counsel: Klein Hornig, LLP Fo un d ed in 2 002, Klei n H o rn ig, LLP ("KH") i s on e of t he nation's p remier fir ms con ce nt ra tin g exclusi vel y on afforda b le h ousing and c o mmu ni ty dev e lo pm en t. T he fi r m's 39 l awy ers focus excl us ive ly on st r u cturi ng, ma nagi ng and clo sing affordab le ho usi ng an d c ommunity developm ent p rojects wit h a w ide v a r iety of afford able h ou sin g programs i ncl ud i ng RAD. In the last 6 years Klein Hornig has coordinated and closed the financing on the AIP mixed-financed, multi-layered financed developments below. • New Construction & Rehab: Northwest Gardens V, Fort Lauderdale -200 units • New Construction: Eastbrooke Apartments, Washington DC -39 units • Preservation: Sailboat Bend Apartments, Fort Lauderdale -105 units • Preservation: Green Turnkey Plaza, Miami -21 units • New Construction: Washington Square, Miami -67 units • Rehabilitation: Marian Towers, Sunny Isles Beach -220 units • Rehabilitation: St. Elizabeth Gardens, Pompano Beach -155 units • Rehabilitation: St. Andrew Tower I and II, Coral Springs -438 units Christophe r W. Hornig, Managing Partner: Ch ris Hornig re pre se nts for-prof it, no np rofit a nd publi c secto r clie nts in Go nnecti on wi t h a broad ra nge o f ass ist ed hou si ng an d rea l e state tran sactio ns. In re c ent ye a rs , Ch r is has p lace d parti c ul ar foc us on CNI /RAD/HO PE VI /mixed -fin an ce tran sactions i n w h ich he re pre se nt s both private developers and public housing authorities in complex large scale revitalization projects involving the demolition of distressed public housing and its rep la ce ment with mi x ed-inco me, m ixed-use developments utilizing LIHTC, t ax -exempt bon ds, p r ivat e d e b t, and pu blic and private grant funds . Chris has re pre se nte d parti e s in portfo li o tra nsf e rs, preservation projects, Mark-to-Market rest r uctu rings, a nd othe r afforda bl e ho u sing contexts. Chris has litigated Federal hou sin g -relate d cases at the trial and appellate levels . He earned his Juris Doctor (Order of the Coif) d e g ree from Stanford University Law School and B.A. (cum laude) from Harvard University. Corporate Counsel: Stearns Weaver Miller Weissler Alhadeff & Sitterson, PA Stearns Weaver Miller Weissler Alhadeff & Sitterson ("Stearns") is a full-service law firm serving clients t hro ugh o ut Florida, nati onwide and internationally. With offices in Miami, Coral Gables, Fort La uderda le, Tam p a a nd Tallahas se e, they o ffer multidisciplinary solutions with a focus on l an d dev e lo pm ent, zo n i ng, rea l e st ate an d t ax, trusts & estates, environmental and government affairs, l itigati on & disp ut e res o lution, ba n kru ptcy & creditors' rights, corporate & securities, labor & employ ment. Si n ce 2013 , St earns h as re pres e nted AIP Communities in numerous affordable ho using t ran sactio n s a nd has wo rke d w ith key staff at AIP for over 20 years . Brian McDonough, Shareholder: Mr. McDonough is a Shareholder in the Real Estate Department. He is a member ofthe firm's Board of Directors and Executive Committee, and he is the Chairperson of the f i rm's Affordable Housing and Tax Credit Practice Group. He represents developers using government loan programs, com m un ity h ou sing d eve lopment organizations and 501 (c)(3) org ani za ti o ns usi ng qu a lified 50 1 (c )(3) bonds for multifamily housing d ev e lopm e nts. Mr. McDono ug h as sist s clients with matters involving multifamily ho u si ng , low income ho us i ng t ax c red its, and loan programs implemented by HUD. M r. McDo nou gh als o re p rese nt s lenders in all types of Real Estate loans and in particular loans related to affordable housing. Mr. M c Do nough is a frequent lecturer and panelist on current matters affecting affordable housing. In ad dition, Mr. McDonough has authored several articles on matters affecting affordable housing. 9 Tab 2 -Respondent's Qualifications ATLANTIC A.PACIFIC Special Counsel: Radey Law Firm Since 2006, Radey Law has successfully advised and represented AIP Communities in all matters related to the Florida Housing Finance Corporation funding applications. Their scope included research and writing Administrative Appeals and Petitions for Rule Waivers . Donna E. Blanton, Shareholder: Ms. Blanton practices in the areas of administrative law and appellate advocacy. Ms. Blanton is Board Certified by The Florida Bar in the area of State and Federal Government and Administrative Practice . Ms. Blanton has written a number of scholarly articles about Florida administrative procedure, several of which have been cited by Florida appellate courts. She graduated with high honors from the Florida State University of College of Law, where she was editor-in -chief of the law review. She earned her undergraduate degree in journalism, with honors, from the University of Florida . Ms. Blanton was named to Florida Trend Magazine's annual listing of Fl orida Legal Elite in 2005, 2006, 2007, and 2009 . She also was named in Florida Super Lawyers in 2006, 2007, 2008, 2009, 2010, and 2011, and recognized in the 2008, 2010, and 2011 editions of The Best Lawyers in America in the area of Administrative Law. Accountant: Tidwell Group T idwe ll ha s pro v id e d LIH TC , accountin g and tax c o n su lt i n g services fo r a ll th e affo rd able hou si ng p roperties in AI P Com m unitie s portfolio. The firm an d its professionals are fami l ia r with affordab le housin g tax cre d it s, bon d and conve ntio nal fi nancing, HUD c ompl ian ce a nd re porti ng, al on g with nu me ro us oth er area s of t h e in dustry a nd f u lly understa nd the re p orti ng obl ig-at io n s of m ixe d finance transactions. Clients served include publicly held Fortune 100 companies, non-profit housing organizations, and developers across the United States. Christopher N. Thomas, CPA, Manag ing Partner: Chris Thomas is the Office M ana g i ng Partner in T idwell G ro up's A ustin office. With over 20 years of public acc ou nti n g exp eri en c e, M r. Th o ma s is responsible for federal and state c o mpli a n ce w ith partnersh ip t ax all ocation requirements; tax planning and tax c o mp liance for partnerships a nd corp orations, with a focus on low-income hou sin g ta x credit p rojects and real esta te developers. Chris Thomas is a graduate of the University of Florida with a B.S. in Accounting and a M.S. in Taxation. He also served as a member of the University Of Texas McCombs School Of Business Advisory Council for the Department of Accounting. General Contractor: AtlanticlPacific Community Builders, LLC Atla nti cl Pac ific Co m mu n ity B uilder s ("A IPCB ") is a bonded and licensed Flori da general contractor an d an affiliate of A IP a nd would serv e as the General Contractor on HACMB's sites. AIPCB is an experienced affo rdabl e ho u si ng general contractor, a Miami-Dade County Section 3 certified f irm and a st rong a d vo cate of V icinity Hi r i ng a nd c o ntracti ng w ith l o cal a nd D/M /WBE and small busin ess f i r ms. In t he la st fiv e years, AI PCB ha s com p leted nea r ly 2,100 affo rdable, w orkforce and market-rate units and currently has 920 mixed-i n come u n its u nd er c on stru cti o n. In additi o n, Al PCB is working o n pre-co n struction acti viti e s o n the foll owing award ed projects: Re sid ences at D r. K in g Bou le vard (12 0 u n its) i n Mi ami, Suncrest Cou rt ( 1 16 units) i n Fo rt Lau d e rda le, No rth sid e Tran si t Vi llage II (3 rd p h ase o f th e NTV project with 180 units) in M ia mi a n d Bl ock 45 , a m ix ed -use -m ar ket rate, w orkfo rce a nd affo rdab l e h ou si ng project w ith m o re than 6 0 0 un its in Overtown . 10 Tab 2 -Respondent's Qualifications ATLANTIC ~._PACIFIC Joseph A. Roig, Vice President of Construction: Mr. Roig joined A IP in 2 0 1 1 .,-·-"'"a."l:'~ bri ng i ng over 20 years of constru cti on ma n agement and deve lopment experie n ce to t he firm . Mr. Ro ig is a State of Flo ri d a l icensed Ge n e ra l Co nt racto r and t he qualifier of AIPCB. He is responsible fo r c on str uctio n ove rsight fo r a ll A jPC B projects. Prior to working with AIP Companies, Mr. Roig served as Vice President of Construction for Taubco, a South Florida commercial real estate development company. During his time at Taubco, he was responsible for the implementation of all development and construction within the Taubco portfolio of properties. During his last two years with Taubco, he completed 200,000 SF of mixed-use, retai l and office development, in cl uding a 400-space garage. Mr. Roig held a sim i lar position at Lennar Developers (NYSE: LEN), as Director of Construction, managing the construction of Lennar's high-rise multifamily developments. During h i s time at Lennar, he was responsible for construction of the 360° Condominiums & Marina project, a $104M project in North Bay Village consisting of 414 condominium units including waterfront townhomes, and a marina; and The Colonnade and Park Towers condominium projects, a $102M, 296-unit condominium located in Miami. Prior to his tenure at Lennar, Mr. Roig spent 11 years with "best in class" general contractors, working in all phases of construction. He is a 48-year resident of Miami-Dade County . .. Anthony Grondin, LEED A.P., Director of Operations: M r. Gron d in joined A IP in •---..·~'3· • 2011 b ringi ng o v e r 16 years o f construction manage m ent expe r i ence to the f i rm. • Mr. Gron d in 's ro le at AIPCB i n cludes the ove rs ig ht o f all field o perations and staff, as well as all purchasing activity. Prior to joining the AIP team, M r. G rond in se rv ed as a Construction Manager for Lennar Homes (NY SE : LEN ) w here he oversaw the construction of 104 units at the St. Moritz condominium in Doral, Florida. He was also responsible for managing the daily activities of Lennar Developer's high -rise multifamily developments. Mr. Grondin has a degree in Construction Management from Florida International University (FIU). While attending FIU he interned with Turner Construction and transitioned to full time employee, working in all aspects of the construction field . He is a LEED accredited professional for building design and construction, a leve l one post tension field specialist from the Post Tensioning Institute and holds a 30-hour OSHA certification . Mr. Grondin is a Miami-Dade County native. Laura Van Gorden, Project Executive: Ms . Van Gorden jo i ned AIP with 14 years of diverse comme rci al construction and real estate experience. Ms . Van Gorden provides financial and administrative oversight for AIP multi-fam i ly construction _ projects in South Florida . Prio r to j oi n ing AIP, M s. Van G o rd e n spent 10 years with the Lennar companies (NYS E: LEN -i ncludi ng Rial to Capita l, Lenn a r Commercial and Lennar Developers), w orkin g on retai l an d condo m ini u m developments, CMBS, distressed debt and asset m an ag e m ent. Mo::;t re ce nt ly, M::;. VJ n Gorden was a Senior Vice President at Rialto C apital overseein g th e C MB S Co l la teral Surveillance platform. Ms . Van Gorden received a Master of Science in Construction Management from Florida International University and a Bachelor of Arts from the University of Wisconsin. She holds a 30- hour OSHA certificat ion and serves as the Executive Vice President and board member of the Junior League of Miami. She is a 15-year resident of Miami-Dade County. Monique Poole, Compliance Coordinator: M s. Poole works with the executive team and project site tea m s to pl a n, i m plement and track a l l r egulatory requirements on affordable housing proj ects including certified payroll, Sectio n 3, D avis Bacon and SBE/DBE/MBE/WBE certifications . Sh e works w ith t he pre-c o nstruction team to as sure all qualified bidders have the appropriate certifications and are aware of the requirements for the project. Ms. Poole also assists newly 11 Tab 2 -Respondent's Qualifications ATLANTIC ~ .. PACIFIC qualified companies with obtaining minority certifications from the local municipality. Ms . Poole graduated from Miami Northwestern Senio r High School, and attended college at Jefferson Community College in Louisville , KY. She enjoys giving back to the community she grew up i n (Liberty Ci t y/Overtown) by providing food, clean clothes, toiletries and hope to the homeless and res idents in the area. Management Agent: AtlanticlPacific Community Management Over the course of several decades in the real estate bus i ness, AIP Companies has become particularly well -known not only for their development capabilities, but for their exemplary property leasing and management expertise . Since the mid 1970's, AIP has purchased , developed, leased, and managed residential and c ommercial properties throughout the Un ited States and currently manage s more than 40,800 res i dential units (with ove r 17,000 units owned), and more than 500,000 square feet of commercial space. AIP Management is the management platform under AjP Companies. AjP Management delivers first-class services and oversight to a variety of condominium and multifamily communities. The company is an Accredited Management Organization that places an emphasis on extensive and continuous training and education for its employees. Property Managers work d i rectly with residents, unit owners, contractors, attorneys, accountants, and mo re to ensure that all parti es ' needs are met in an adequate and timely manner. With over 1,200 employees, AjP Management offers a broad spectrum of real estate services to private and institutional resident ial owners as well as developers of office and retail properties throughout the Southeast U.S. and Calrfornia. Their team of seasoned professionals with multi- disci plinary backgrounds has decades of residential and commercial real estate experience including legal , financial , accounting and manageri al. Human resources, insurance, accounting, compliance, reporting, and asset management are centralized, increasing transparency, maximiz ing efficiency, reducing operating costs , and enhancing the asset value of our portfolio. Atlantic jPacific Community Management, LLC is an affiliate of AjP Management formed to pro- vide on -site management, marketing, administrative, full-charge accounting, financial reporting, asset managernent evaluation, and compliance monitoring for AIP Communities. AjP Commun ity Management manages and performs compliance for properties with a variety of public funding sources, including: 9% and 4% housing credits; local, county and state (including FHFC) tax-ex- empt bonds; FHFC SAIL and SAIL ELI loans; HUD NSP, HOME and HAP contracts; Miami -Dade County Build i ng Better Communities General Obligation Bonds, and Surtax loans. In add ition, development managers at AjP Communities and our in -house general cont ractor, AIP Community Bu i lders, work hand-in -hand w ith AIP Commun ity Management staff to ensure suc- cessful planning and operation ofthe properties from the pre-development design stage through conversion and stab i lization. This teamwork ensures a holistic and successful transfer of the prop - erty to management. AjP Community Management also works w ith local businesses, agencies and non-profits to provide a wide variety of on-site resident programs at no cost to the residents. Claudia Ortiz, ARM, Director of Operations: As the Director o f Operati0ns for A IPCM , Ms. Ortiz is responsible for the overall strategy, management, and profit- ability of the affordable housing portfolio consisting of 25 LIHTC assets and over • · 2,540 units in Florida, Texas, and Washingt on DC ranging from 28 un its to 220 units. She manages client relationships and oversees all aspects of operations in - cluding overall performance, budgets, and debt-service testing for lease ups. She supervises regional managers and on-site personnel and oversees training and employee development. Claudia Ortiz has over 13 years of property management experience in the multi- family industry, including direct oversight of lease-ups, acquisitions, renovations, repositions, and 12 Tab 2 - Respondent's Qualifications ATLANTIC � .. PACIFIC financially and physically stressed assets. She is a CPM candidate through the Institute of Real Es tate Management, and earned the Accredited Residential Manager certification. She is a member ofthe Southeast Florida Apartment Association and National Apartment Association. , Lynda Lusby, Regional Manager: As Regional Manager for AJPCM, she is re sponsible for the overall strategy, management, and profitability of current and .:; .. ..--.ilill".-. future affordable housing developments. Lynda Lusby currently oversees six Florida mixed-finance, multi-family LIHTC rental housing developments. Financ ing for these developments include conventional loans, LIHTC, tax-exempt bonds, HOME, NSP, Surtax program funds and HAP contracts. Prior to joining AIP, Ms. Lusby accrued 15 years of onsite affordable housing experience that included Senior Management of multiple LIHTC assets. She gained her knowledge of HUD regulations and procedures as a Hope VI Case Management Specialist at the Lakeland Housing Authority where she was re sponsible for tenant relations, services and relocation. Ms. Lusby is accredited as a Public Housing Specialist, Section 8 Regulatory Management and LIHTC Compliance. She graduated from Polk College with a degree in Business Management. Two of the three properties nominated for Property of the Year in 2013 in the SEFAA affordable housing category were directly under Lynda's report. Jonathan Del Sol, Compliance Manager: Jonathan Del Sol is responsible for the compliance of all projects under management. Jonathan's career in tax credit compliance started in 2006 with a portfolio that grew to over 80 proper- ►• ties during his tenure with a Miami-based asset management company. He joined AIPCM in 2015 and performs tax credit compliance management duties·• for AIP's entire multi-state LIHTC portfolio. He works with key external vendors and collaborates with development and management staff on compliance re quirements ensuring that all tax credit units adhere to the regulatory agree ments. This includes tax-exempt bonds, HOME, NSP, as well as any other feder al, state, and local funding sources. He manages the day-to-day compliance operations including file review, calculation of rents, audit preparation, utility allowance studies and analysis, training, and compliance reporting. Profile of Principals and Key Staff (3.E.2.b.2.) AJP's development staff consists of Miami-based seasoned professionals with extensive experi ence acquiring, planning, financing, developing, leasing, and managing multifamily assets. Each development is directly managed by a team of development staff which is managed by executives in AIP Communities' Acquisitions, Applications, Underwriting, Development, Finance, Construc tion Management, Accounting, and Management departments. This multi-disciplinary approach ensures reliable execution of complex developments with maximum efficiency. Capacity AtlanticlPacific Communities, LLC, certifies that the development team is prepared to start imme diately upon contract award and able to complete the development expeditiously. There are no existing time commitments of the team members or staff which would impair the team's ability to proceed expeditiously. Brief resumes of the key principals and staff to be involved in the development effort are provided below. 13 Tab 2 -Respondent's Qualifications ATLANTIC ~ .. PACIFIC -c• .... "'•1 111 1- Key Principals , Howard D. Cohen, Chief Executive Officer: Howard D. Cohen leads as the President and Chief Executive Officer of AtlanticJPacific Companies and has served in this position for nearly 20 years . Mr. Cohen's role includes the over- sight of all affiliated companies, managing the company's investments and creating strategic partnerships that further enhance the firm 's systematic and ·· intelligent approach to delivering better results and a r icher experience. Mr. Cohen practiced with the preeminent law firms of Ruden McClosky, P.A. and Becker & Poliakoff, P.A., as a senior real estate attorney specializing in commercial real estate, financing and lending transactions. Mr. Cohen has more than 25 years of real estate investment, real estate law and management experience. Mr. Cohen, a Miami-Beach native, graduated from Miami Beach Senior H igh, received his Bachelor of Science degree from Cornell University, and his Doctorate of Jurispru- dence from the University of Miami with Magna Cum Laude distinction. Mr. Cohen currently serves on the board of directors of Cornell University's Center for Real Estate Finance. Randy K. Weisburd, Chief Operating Officer: Randy K. Weisburd, Chief Oper- ating Officer of AtlanticJPacific Companies, is primarily responsible for the for- mulation and execution of the company's overall strategic plan as well as its · day-to-day growth management. Under the AtlanticJPacific corporate umbrel- la, Mr. Weisburd oversees the Acquisitions, Asset and Property Management, Development, Fund Management and General Contracting. He has served as court appointed Receiver and Monitor as well as Advisory-Lead Partner on numerous assignments during the past several years . Prior to join i ng AJP, Mr. Weisburd served as Vice President of LNR Property Corporation . During Mr. Weisburd 's nine-year tenure at LNR , he was directly responsible for the acquisition, development, and management of numerous commercial properties throughout the United States. Mr. Weisburd currently serves on the Board of Directors of Lehrman Community Day School, The University of Miami School of Business Administration Real Estate Advisory Board and is the past Chairman ofthe Miami Bea c h Planning Board . Mr. Weisburd, a M i ami Beach native, graduated from Miami Beach Senior High School and the University of Miami with a degree in Business. Kenneth J. Cohen, Chief Financial Officer: Ken Cohen is a managing partner of AtlanticJPacific Companies and serves as the Chief Financial Officer manag- ing the financial operations and reporting for the corporate co mpa n ies. Mr. Cohen also oversees all the daily accounting activities for family o wned re ntal __ ..__ communities including the receivables, payables and payroll. Mr. Cohen is responsible for creating and maintaining site level budgets which are report- ed during monthly corporate variance meetings. M r. Co he n joined the staff o f Kenneth Le venthal & C ompany, a nati onal ac- co u nting firm special izing i n the real estate indu stry. Shortl y afte r, the firm merged into Ernst & Yo un g , LLP. an d M r. Cohen co m p l et ed h is ten ure as a member o f t h e Senior Tax depa rt m e nt. Mr. C o h en double tracked with the company and worked within both the audit and tax departments. Mr . Cohen, a Miami Beach native, graduated from Ransom Everglades School, Cornell University with a Bachelor of Science in Hotel & Restaurant Administration, and received a Master in Profes- sional Accounting degree from the University of Te x as at Austin. He is also licensed in the State of Florida as a Certified Public Accountant. 14 Tab 2 -Respondent's Qua! ifications ATLANTIC _.PACIFIC Key Staff Stanley D. Cohen, Executive Vice President: Stanley Cohen is a managing partner of AtlanticlPacific Companies an d seNes as the Executive Vice Presi- dent of the West Coast division. Stanley supeNi ses the day-to-day ope ration of the corporate offices based in San D ie g o. Mr. Cohe n is also active in the management of the family owned rental communities based in California. Mr. Cohen originally hails from Miami Beach and has lived in the San Diego area since the early 1990's. He received his Bachelor of Science degree from Duke University (Phi Beta Kappa) and his Masters of Business Administration from the University of California of Los Angeles. Mr. Cohen has been involved in real estate for over 15 years and hc1s held a Ca liforn i a Real Estate Broker's License since 1998. AIP Communities is led by Kenneth Naylor-Chief Operating Officer and Lindsay Lecour-Senior Vice President, and Greg Griffith, Vice President and Project Manager for the proposed HACMB devel - opment(s). Below are the resumes of AIP Communities key staff that will be directly worki ng on the HACMB sites. Kenneth Naylor, LEED A.P., Chief Operating Officer: Ken Naylor started his development career in 2000 . In 2005 he served as the Project Manager who ~ ... ..,nir-11 kicked off the redevelopment of the Housing Authority of the City of Fort Lau- ~--•-derdale's public housing portfolio. Since then he has led the most compli cat- ytlll.,ilt' ed developments -major multi-year redevelopments with municipalities, housing authority partners, historic rehabilitations, homeless developments and development in the Florida Keys , to name a few. He is an excellent manager of complexity; he thrives on proving out new con- cepts, such as LEED Certification or Tra nsit-O riented Devel op ment, bel ie v ing that by pioneering the path, others will fo l lo w. In 2 0 06 , he l ed the first LEED certified affordable development in th e Southeast (Tallma n Pines, win ner of 2008 Developer Magazine sustainab i lity award) in partnersh i p with the Bro- ward County Housing Authority. In 2010, Naylor helped facilitate important and progressive housing in itiatives, including the construction of 7 new LEED tran sit-oriented de- ve lopments; and successfully petitioning the Florida Housing Finance Corporation to allow Youth Aging out of Foster Care to live in Low-Income Housing Ta x Credit units. He oversaw the rehabili- tation of The Royalton, winner of the 2009 Affordable Housing Finance magazine Reader's Choice Award and 2010 National Preservation Award from the National Trust for Historic Preservation. In creating new housing and services near public transit, Ken's work is helping individuals and families overcome the most costly and debilitating burdens that limit access to job opportunities. In 2011, Naylor was named as one of four "Young Leaders" in the affordable housing industry by Affordable Housing Finance magazine and was se l ected as Multifamily Executive Magazine's Rising Star of the Year. In 201 3 , A IP Compan ies d e si gnated Ken N ayl o r C hi ef Operating Officer responsible for oversee- in g t he da y t o day na tionwi d e ope r ations o f A IP Commu nities. He serves on the Monroe County Commission's Afforda ble Hou sin g A dvisory C om mittee; a nd on the Building Efficiency 305 Working G ro up, c o nvene d by the Mia mi-Dade County Regulato ry and Ec onomi c Resources Department to sh ape energy and water effi ciency policies and p rogram i n t h e county. H e is a D ire ctor fo r t he Co - aliti on o f Afford ab le Housing Provi d ers ("CAHP"), a statew id e orga nizati on ded icated to the fu rthe r- ance of affordable housing policies in Florida an d is a member of the U S Green Bu il d in g Counci l and Urban Land Institute. Mr. Naylor graduated with Honors from the University of Miami and is a Miami Beach resident. 15 Tab 2 -Respondent's Qualifications ATLANTIC ~-.PACIFIC r "'~~c""e¥~~":'.""f"'--. lindsay Lecour, Senior Vice President: Having overseen the development of more than 50 multifamily communities across the Southeast worth more than $1.4 billion, Ms. Lecour specializes in complex neighborhood revitalizations and transit-oriented developments with housing authorities, non-profits, reli- gious institutions, and municipal partners in Miami-Dade and Broward Coun- ties. Lindsay has helped build strong relationships with local housing authorities. In 2010, she helped launch a groundbreaking pilot, community garden pro- gram at Dixie Court Apartments. This initiative has helped reduce family food budgets for residents living in the community, has served as a model forfuture developments, and has garnered the attention of federal congress members and local media alike. Both Dixie Court and the Northwest Gardens neighbor- hood (with the Housing Authority of the City of Fort Lauderdale) have also created new avenues for vocational training opportunities for neighborhood youth participating in the Step-Up program. Her experience also includes the first LEED Silver and first LEED for Homes Gold affordable devel- opments in Florida, as well as the one of the first LEED for Neighborhood Development projects in the United States. Prior to joining the AIP team, Ms. Lecour was an associate for a Seattle-based investment bank spe- cializing in public finance, and a management consultant in the financial services and nonprofit sec- tors. Ms. Lecour holds an MBA from Yale School of Management and earned a BA in International Re- lations from Stanford University, where she studied in Santiago, Chile. For the last six years Lindsay has been serving as the Chair of the Town of Surfside's Planning and Zoning Board. She is a 12-year resident of Miami-Dade County. , .. Dan Wilson, Senior Vice President: Dan Wilson is responsible for formulating and executing the company's national growth platform as well as overseeing the firm's day-to-day acquisition and predevelopment activities. Much of his focus is on the origination of new multifamily developments. Mr. Wilson has diverse real estate development experience including land ac- • · quisition, site planning, and design; sourcing of equity and debt; construction • management; and leasing supervision . He has managed the development of a wide variety of mixed-use developments totaling more than 3,800 multifamily units. He worked on the closing of the tax-exempt bond/4% LIHTC financing on The Studio at thinkEAST, a 182-unit development, and the RAD conversion of Pathways at Goodrich, both with the Housing Authority of the City of Austin. Mr. Wilson is a former Chairman of the ULI Multifamily Development Council for the State of Florida and is an active member of the Texas Affiliation of Affordable Housing Providers. He was named as one of six 2018 Young Leaders by Affordable Housing Finance magazine. Dan was also selected by the South Florida Business Journal for their 40 Under 40 award which honors 40 business executives age 39 and younger for their innovation, leadership and community contributions. He holds dual B.A. degrees in Finance and Real Estate from Flor·ida Atlantic University. Liz Wong, Senior Vice President: Ms. Wong has over 20 years of experience overseeing finance applications to federal, state, and local governments. She specializes in housing credit applications and, to date, has been instrumental in obtaining over a $1 billion in housing credits from Florida, Texas, North Caroli- na, South Carolina, Washington DC, and the US Virgin Islands. Ms. Wong's deep experience with subsidy funding processes gives AjP Communities' develop- ment team a distinct competitive advantage in the competition for housing credits and other scarce funding sources. Since 1998, Liz Wong has competed successfully to fund 108 tax credit communities for a total of 12,439 affordable housing units. 16 Tab 2 -Respondent's Qualifications ATLANTIC ...._PACIFIC Ms. Wong is a Miami-Dade County native and resides in the City of Miami. She attended Saint John's University in Queens, New York, and majored in Accounting . Greg Griffith, Vice President: G reg Griffith is responsible for managing develop- ment staff and overseeing developments through site planning, design, entitlement, . ..-:i~.• sourcing of equity and debt, financial closing, management of third -party profes- • sionals, construction/financial management through project completion, and stabi- lization . His experience includes partnerships with housing authorities and non-profits (City of Fort Lauderdale, City of Dania Beach, City of Austin and Catholic Health Ser- vices) along with a product mix that includes new construction/rehabilitation, gar- den style, mid-and high -rise buildings serv ing fami lies and seni o rs, t ransit-o ri ented, and mixed-finance developments. Greg ha s experience with ma ximizing the use of various financing vehicles and with develo pme nts with HUD re quirements, such as Rental Assistance Demonstration or RAD, HAP Contracts and HOME loans . Prior to j o ini ng AI P C ommuniti es, Greg G ri ffith serv ed as property manager for AtlanticlPacific Manage- ment a n d w as respon sib le fo r a portfolio of 200 re si dential units and 130,000 square feet of commercial sp ace. M r. G riffith received a degree in housing a nd consumer economics from the University of Georgia an d h i s M .B.A. fro m the Unive rsity of M iami and atte nded the ULl's Leadership Institute. Griffith is a 9-year resident of Miami-Dade County. Michael Fincher, General Counsel: Mike Fincher has represented principals of AIP -.i__,_,_, Communities for over 20 years, and in 2017 joined AjP full time as its General Coun- sel. Mr. Fincher coordinates the delivery of legal services to AjP and its subsidiaries in the various jurisdictions where it operates. Since joining he has closed on 11 LI- HTC transactions for AIP Communities including mixed-financed, mixed-use devel- opments, as well as negotiated ground lease agreements with Miami-Dade County. He has worked at several international law firms headquartered in Atlanta, San Fran- cisco and Miami. In add ition, Mike Fincher served for a time on the legal staff of the Resolution Trust Corporation, where he coordinated real estate law activities for the Congressional Inquiry Team. Mike Fincher obtained his juris doctorate from the University of Georgia. Scott Kriebel, Senior Development Manager: Scott Kriebe l is responsible for man- aging multiple developments and staff through all phases of real estate development, including un - derwriting, project financing, entitlement, application to state housing agencies, design/construction management, and legal partnerships with investors and joint venture developments. Mr. Kriebel works to structure deals across several financing sources including LIHTC equity, debt (including tax-exempt bonds, private placement, and conventional), HUD HAP Contracts and local assistance (including PILOT). He is currently working on predevelopment activities on two mixed-use developments in Washington, DC and in Glenn Da le, Maryland. In addition to his activities in the Mid-Atlantic, in 2018 Scott closed the construction finan c ing on two 9% LIHTC preservation transactions with our non-profit partner, Catholic Health Services, located in Sunny Isles Beach and in Pompano Springs, and two 9% LIHTC redevelopments w ith the Dania Beach Housing Authority in Dania Beach, Florida. Pr io r to joining the A IP Com m unities team, M r. K ri ebel was with a market-rate multifam i ly real estate deve lope r and real estate sovereign wea lth f u nd i n London, England. He also worked for a multi-family LIHTC d eveloper in Ten n es see w h ere he succe ssfu lly closed financing on 608 LIHTC apartment units a n d 220 conventiona l un its while sou rci n g both 9 % and 4% LIHTCs for those transactions. Mr. Kriebel graduated with a B.A. degree from the University of Richmond and an M.Sc. from the London School of 17 Tab 2 -Respondent's Qualifications ATLANTIC ...,._PAC] FI C -rD ""Wlll <t ll HI- Economics. Carine Yhap, Senior Applications Manager: Ms. Yhap manages acquisition site research and due diligence, preparation and submittal of funding applications, and assists with credit underwriting and financial closing due diligence. She specializes in housing tax credit applications in Florida and Texas. Ms. Yhap joined AIP with over five years of property management experience . She also worked as a comp l iance specialist, providing compliance support, monitoring, training and reporting for a port- fo l io of 55 properties. She holds a Bachelor of Arts in Anthropology from the University of Florida with a minor in International Development & Humanitarian Assistance. She has been a Miami-Dade County resident for over 20 years. Raul Lopez, Controller: Raul Lopez has over 20 years of real estate accounting experience, working with affordable and market rate developers. He has overseen the development and management accounting functions of over 8,000 units including multi-layered, mixed-finance developments in Florida, Texas, Washington DC, North Carolina, South Carolina, Georgia and the Virgin Islands. Raul Lopez is responsible for all the accounting and financia l reporting for A[P Communities, AJP Community Management and AIP Community Builders. He supervises the accounting staff and the day to day accounting functions of development and management, including cash projections, pre-development expenses, construction draws, and treasury functions across AJP Communities' entire real estate portfolio. In addition, Raul Lopez complies with all local and state agency financial reporting, including 10% Tests and Final Cost Certifications for LIHTC developments. Mr. Lopez is a Miami-Dade County native, and former reservist with the United States Army. Term ination, Suspe nsio n, or Disba rment {3.E.2.b .3 . l The Respondent, AtlanticJPacific Communities, or any of its key personnel or team members, have not been terminated from a contract; received, from any entity, a formal notice on non-compliance or non-performance; or been suspended or disbarred by any public entity. Litigation and Disciplinary History (3.E.2.b.4.l AtlanticJPacific Communities, or any of its key personnel or team members, have never sued or been sued by a public entity or disciplined by a licensing body in the last ten years. Eligibility to Bid and Contract (3.E.2.b.s.J Atlantic!Pacific Communities, or any of its key personnel, have not been disbarred from bidding on projects by any federal, state, or local government agency; and no person or affiliate has been placed on any convicted vendor list. Previous Housing Development Experience (3.E.2.b.6.) Atlantic J Pacific Communities' ("AJPC") ability to successfully tailor the development plan to the unique requirements of each stakeholder has been pivotal to our continued success. Our team's strengths include: • Significant experience working with municipalities and not-for-profits to transform neighborhoods around the country through innovative urban planning, master planning, economic development and other community revitalization initiatives, including mixed-income and mixed-use developments. 18 Tab 2 -Respondent's Qualifications ATLANTIC ~ .. PACIFIC _,,., ..... 11 •1t•1t-- • Demonstrated development, rehabilitation, and construction management expertise, culminating with the development of over 11,100 affordable and mixed-income housing units. • In-depth knowledge of and experience with the complex rules and regulations that accompany public housing and mixed-finance redevelopments with 23 joint ventures and over 2,630 units developed with our public housing partners. In Miami-Dade and Broward Counties alone, our team has developed 19 developments in partnership with housing authorities in the past 10 years. • Expertise in providing financially sound development plans by leveraging a variety of local, state and national financing sources, including assembling financing for mixed-financed and mixed- income housing, with over $2.6 billion in capital raised to date. • Industry leading experience in developing environmentally sustainable communities and numerous LEED certified developments across the country, including the first LEED ND (Neighborhood Development) in the southeast U.S. • A proven track record of partnering with residents and neighborhood groups to employ low- income and Section 3 residents and/or certified subcontractors and contracting with local businesses, Disadvantaged Business Enterprise ("DBE"), Small Business Enterprise ("SBE"), Minority Business Enterprise ("MBE"), Woman Business Enterprise ("WBE") and Labor Surplus Area ("LSA") firms . • Significant property management experience consisting of over 40,800 multifamily units under management across 159 properties, of which over 17,000 units are owned, as well as 500,000 square feet of commercial/retail space. In Miami-Dade County alone, AIPC staff has 34 affordable housing developments with over 3,890 units built or under ~evelopment. The AIP team has completed or a re actively developing over 2,631 tax credit units in partnership with public housing authorities as detailed below. Additionally, our team has completed several multi-phase, multi -year redevelopments of entire neighborhoods. The breadth and depth of experience required to undertake developments of this size, scope, and complexity is directly applicable to our ability to successfully redevelop the Normandy Isles sites . 19 Tab2-pondent's Qualifications Public Housing Authority Experience Development Name Housing Authority # of Units 9%HC 4%HC Poinciana Crossing Housing Authority of the City of Fort Lauderdale 113 28,820,000 Sailboat Bend II Housing Authority of the City of Fort Lauderdale 110 25,610,000 Saratoga Crossings Dania Beach Housing Authority 128 25,610,000 Saratoga Crossings II Dania Beach Housing Authority 44 9,350,000 PathwaysatGoodrichPlace Housing Authority of the City of Austin 120 15,000,000 The Studio atThinkEAST Housing Authority of the City of Austin 182 9,743,380 Suncrest Court Housing Authority of the City of Fort Lauderdale 116 10,158,000 Northwest Garden V Housing Authority of the City of Fort Lauderdale 200 11,103,028 Northwest Gardens II Housing Authority of the City of Fort Lauderdale 128 21,700,360 Northwest Gardens IV Housing Authority of the City of Fort Lauderdale 138 24,737,100 Sailboat Bend Housing Authority of the City of Fort Lauderdale 105 8,714,180 Washington Square Miami-DadePublicHousingCommunityDevelopmentAgency 89 22,886,070 Dr. Kennedy Homes Housing Authority of the City of Fort Lauderdale 132 21,507,200 East Village Broward County Housing Authority 155 26,260,000 Northwest Gardens I Housing Authority of the City of Fort Lauderdale 143 18,232,500 Northwest Gardens Ill Housing Authority of the City of Fort Lauderdale 150 23,400,000 Dixie Court Ill Housing Authority of the City of Fort Lauderdale 100 17,300,000 Dixie Court II Housing Authority of the City of Fort Lauderdale 32 25,065,000 Morris Court II Area Housing Commission 74 11,000,000 Morris Court Ill Area Housing Commission 50 3,100,000 Tallman Pines I Broward County Housing Authority 176 24,350,000 Tallman Pines II Broward County Housing Authority 24 2,022,000 Dixie Court I Housing Authority of the City of Fort Lauderdale 122 12,512,000 Totals 2,631 336,989,410 61,191,408 Tax-Exempt Bonds 21,800,000 15,250,000 14,000,000 4,750,000 4,500,000 3,394,876 63,694,876 LANTIC ...t .. PACIFIC Gap Financing HC Cycle (i.e. HOME) 125,000 2019 907,250 2018 837,000 2017 124,000 2017 2017 2016 14,200,000 2017 9,960,000 2014 160,000 2011 160,000 2011 125,000 2011 175,000 2011 6,390,000 2009 6,670,000 2009 500,000 2008 6,560,000 2008 1,225,000 2007 5,346,305 2006 1,240,000 2006 5,286,269 2006 1,000,000 2006 3,914,876 2006 1,025,000 2005 65,930,700 20 Tab 2 -Respondent's Qualifications ATLANTIC _.,._PACIFIC The stakeholders of our developments -our residents, commercial tenants, neighbors, design team, general contractors, JV partners, local authorities, lenders and investors -take pride in our high-quality, attractive developments. Our in-depth knowledge and on -the-job practice gained from undertaking developments of this size, scope, and complex ity speak directly to our ability to successfully develop the sites in the HACMB's portfol i o . The project descri ptions follow for the four developments listed below, references can be found in Exhibit D. 1) Northwest Gardens --759 units, 5-phased mixed-finance redevelopment of public housing sites with the Housing Authority of the City of Fort Lauderdale; 2) Sailboat Bend Apartments -105 affordable units were preserved in partnership with the Housing Authority of the City of Fort Lauderdale; 3) Audrey M. Edmonson Transit Village --176 units, 2-phased mixed-use, affordable housing Transit Oriented Development in Liberty City in partnership with the Miami-Dade County Public Housing & Community Development; and 4) The Studio at thinkEAST --new 182-unit affordable housing development in eastern Austin, Texas developed in partnersh i p with The Housing Authority of the City of Austin. Housing Authority of the City of Fort Lauderdale The Northwest Gardens N e i ghbo r hood r edevelopme nt is a case examp le of a comp lex, master p lan implementation that t r ansform e d o ne of the most i m p o verishe d , drug -and cri m e-ridden neighborhoo ds in th e c ountry i nto a safe , stable, aesthetic, e nv iro nmental ly friendly, an d walkable com m unity. N orthwest G ard ens ("NWG ") w as com pleted in partnersh i p with the Housing Authority of the City of Fort Lauderdale ("HACFL"). The success of our first development with the HACFL, Dixie Co urt Apartme nts, resulted in a long- term partnership to redevelop HACFL's entire portfolio of aging public hous ing stock. A l l in all, more than 70 acres and dozens of blocks throughout Fort La uderd al e ha ve b e e n t ra nsformed i n partnership with the HACFL, the City, the County, an d the CR A res u lti ng i nto m ore t h a n 1,47 0 tax credit homes. NWG V marks the final chapter of the redevelopment of the NWG neigh- bo r hood. Phase V provides 200 units of elderly, mixed -finance, affordable housing in partne rship with the HAC- FL and A!PC. In the middle of every- thing that had been created by the !I p revio us four p hases, there was one . p iec e r 1 emai nindg t hat thke HACFLfdehs- p erate y wa nte t o ma e a part o t e overall redevelopment in order to tru- ly create a safe, flow i ng, end-to-end community. The fifth phase included construction of 6 garden-style buildings with 100 apartments on five scattered sites; and preserving Sunnyreach Acres, a 100- unit, 5-story public housing building constructed in 1976. "Phase five is like a jewe l in the crown," said Scott Strawbridge, Director of Development and Facilities for the HACFL. The fifth phase is an Affordable Housing Finance magazine Readers' Choice finalist in the Public Housing Redevelop- ment and Best Overall Development categories (h ttps://www.housingfinance.com/deve lopments/ 21 Tab 2 -Respondent's Qual ifications ATLANTIC .&PACIFIC sen i or-ho using-marks-fina l-ch a pte r-of-fort-la ude rdale-redeve lopment o ). AIP team members served as development managers on all five phases of Northwest Gardens, a master planned community totaling 759 apartment homes financed with Florida Housing Finance Corporation Low-Income Housing ("FHFC") Tax Credits: Phase Demographic # of Project Manager Funding Sources Units Phase I Elderly 143 Kenneth Naylor 9% LIHTC , Broward AHP Phase 11 Elderly 128 Lindsay Lecour 9% LIHTC, Broward HOME Phase Ill Family 150 Lindsay Lecour 9% LIHTC , Broward HOME Phase IV Family 138 Lindsay Lecour 9% LIHTC, Broward HOME Phase V Elderly 200 Greg Griffith 4% LIHTC, FHFC SAIL, Broward HOME Total 759 NWG q uick ly b ecame a nati o nal m odel for socia l, environmental, and economic sustainability. The d e v e l opme nt ha s be en successfu l becaus e o f its strong network of local partnerships which in- cl ude T h e Pa ntry 0f Broward, C hi ld ren 's Service s Council, Urban League, Honey Project, Youth- Bu i ld, Step-Up, the Unite d W ay and ot her partn e rs who are helping plant the seeds for change . The redevelopment received real tangible support from the community as evidenced by the var- ious local financial assistance received from the City, CRA, County and the State, City Commis- sion ers, the M ayo r, adj acent pro p e rty own e rs & re sidents, all of whom contributed to the redevel- opment o f t h is comm u nity. The C ity waive d i m p act fees; the CRA provided funds to aesthetically e nh an ce t he a rea's st re etsc a pe an d landscapin g ; the Home Beautiful Park Civic Association, Dors- ey-Rive rbe nd C ivic and D urrs C ommunity A ss o cia tions were involved in the design review process; th e Cou nty p ro v id e d HOME loans and i mpact f ee waivers; and the FHFC awarded 9% LIHTC, State A partm e nt In centiv e Lo an ("SAIL"), SA IL Extremely-Low Income, Rental Recovery Loan (Hurricane) Pro g ram an d TCEP loans. The goals o f t hi s redev el opment were comparable in size, scope, and co mpl exi ty to the se rv ice s req ui re d by th e Hou sing Authority of Miami Beach. Our strategies in - cl uded t h ou g htfu l, c alcu lated fina ncing, co mm u n ity participation, and public support. Below, please find the details of our North- west Gardens Neighborhood redevelopment. Vi si o n sta t e m ent Revitalize the community and create a sense of place by creating a sus- t a inable nei g h bo r h o o d t h at pro m otes urban sel f -su fficie ncy a nd a h ea lthy, safe acc e ssi b le livin g en v i ro nment. A l arge p iece o f th e de- velopme nt p uzz le w as t o accom m o dat e the comm u nity need s as p a rt o f the 0verall devel- opment. D evelo p ment Goa ls: Develop a Transit-Ori- ented Village that leverages proximity to ma- jor roadways and county bus system ; enhance · :-,..~, the streetscape to encourage pedestrian use; in c reas e the number of new, safe, affo rd a bl e ho usi ng options in the neighborhood; create a uni- fy ing theme of sustai nability b y incorp o ra ting com m unity gardens and green design principles througho ut t he n e ig hborhood , a nd levera g e p u blic-private partnerships to implement joint vision and goals. 22 Tab 2 -Respondent's Qualifications ATLANTIC .6.PACIFIC Mixed-Income Neighborhood: The Northwest Gardens master plan incorporated a diversity of housing types, including garden apartments, townhomes and single-family homes; enabling resi- dents from a wide range of economic levels, household sizes, and age groups to live in the same community. T he master plan identified the east side of the neighborhood as well -suited for senior housing and the west side of the neighborhood, adjacent to a large city park, as well -suited for larger fami l ies. Accordingly, smaller one-and two -bedroom apartments were built on the east side while larger two-, three-, four-and five-bedrooms apartments and townhomes were bu i lt on the west side. In order to connect the neighborhood, a meandering walking path led from the park through the west side of the neighborhood to the central hub, and on through the east side of the neighborhood to the main roadway adjacent to the neighborhood. Because of the public-pr·ivate partnership with the housing authority, which provided project-based vouchers for a significant portion of the new housing, the neighborhood was able to serve a broad spectrum of econom- ic levels, including those earning 0-60% of the Area Median Income. Interspersed with the new apartments are existing owner-occupied single-family homes serving higher income families and seniors. Updated Street Grid and Streetscape: In creating the master plan, we analyzed the traffic and cir- culation within the neighborhood as well as key access points to major roadways and nearby bus stops. A central "hub" or node was defined where the two-main north-south and east-west streets met; these streets were also the main feeders to the major roadways outside of the neighborhood. Several design elements were proposed to clearly define the hub, including pavement markings, decorative pedestrian crossings, better alignment of streets and sidewalks and enhanced land- scaping. Bus shelters were designed within walking distance of the hub, and wide sidewalks with canopy shade trees and solar or LED street lighting was added throughout the area to create safe and attractive walkways and encourage pedestrian use. A Sustainable Neighborhood : In efforts to become the city's "green neighborhood" -a goal outlined by the HACFL-a number of sustainable pilot projects and green design princip les were implemented. All new developments achieved a LEED Silver standard or higher, and the neigh- borhood itself was one of the first pilot projects of the US Green Build- ing Council's LEED Neighborhood Development standard. Examples of sustainable practices beyond the LEED standards include: bio swales in lieu of trad itional retention ditches, permeable paving, and turning va- cant or undevelopable parcels into pocket parks. A key unifying concept of edible landscaping, the main justification for the "gardens" name, was incorporated across the neighborhood. Alice Thomas, one of the young residents involved with the community garden implementation, went on , to create 'Urban Youth Green Farmers', a youth-oriented marketing and • li promotions company designed to market and sell naturally produced Alice Thomas, Co-foundero/UrbanYourh fruits and vegetables in underserved communities and to local restau- Grcenformcrsll,Googlr Young Minds I rants and businesses. For her efforts, Alice was given the prestigious Goo- Winner gle Young Minds award. Economic Opportu nity and Jobs: The transformation of the Northwest Gardens neighborhood added more than $200 million of local investment dollars and more than 600 jobs to the local economy. It has fueled a pow- erful network of interconnected social and environmen- ta l partnerships that promote urban self-sufficiency and ensure the residents are an integral part of sustaining the changes brought to the area. Beyond merely shel - ter, food, education, occupation, physical and emotional we l lness are all part of the development and planning focus . These partnerships help to facilitate HACFL's youth empowerment programs initiatives such as the Youth- 23 Tab 2 -Respondent's Qualifications ATLANTIC ~ .. PACIFIC Build Program and the Step-Up Apprenticesh ip program, which provide on-site vocational training to public housing residents; community gardens that enable nutritious on-site food production in an urban food desert; and resident programs. During the two-year state certified Step-Up program, apprentices are trained in construction skills with a specialty in housing rehabilitation and building maintenance for occupations. All apprentic- es are required to obtain their GED while in the program, and certified instructors taught morning and evening classes at the HACFL to help prepare the apprentices for the exam . Step -Up built, installed and maintains the kitchen and bathroom cabinetry at nearly all the Northwest Gardens buildings. By targeting the youth population within the area through these efforts, we seek to facilitate neigh- borhood stabilization that is attractive to market rate residents. Summary: The overall vision of the master plan was driven by the goal of increasing the number of sustainable, safe, and affordable housing in the community. The end-result was the establish- ment of a true neighborhood Transit Oriented Village with an atmosphere of self-reliance (partic- ularly from automobiles), healthy lifestyles, personal freedom, and safety with a strong sense of identity and place, and connections via public transit in and around the City of Fort Lauderdale, Broward County, and greater South Florida. The efforts also resulted in economic growth of the neighborhood and a community garden as a way to stimulate social interaction, encourage self -reliance, provide nutritious food, reduce family food budgets, and foster opportunities for inter-generational and cross-cultural connections. The NWG developments referenced above reflect the AIP team's ability to not only develop affordable housing with public partners, but to actively participate in the planning, provision of infrastructure and facilities, ano active participation by our management team in sustaining the broader changes that result from our activities in the communities that we serve. 24 NORTHWEST GARDENS Address Northwest Gardens I: 645 NW 10th Ave, Ft. Lauderdale, FL Northwest Gardens II: 720 NW 10th Terrace, Ft. Lauderdale, FL Northwest Gardens Ill: 824 NW 14t h Avenue, Ft . Lauderdale, FL Northwest Gardens IV: 1237 NW 7th Street, Ft. Lauderdale , FL (Scattered Sites) Northwest Gardens V: 700 NW 12th Aven ue, Ft . Lauderdale, FL {Scattered Sites) Client Contact Information Tam English, Executive Director & Reference Housing Authority of the City of Fort Lauderdale 437 SW 4th Avenue, Fort Lauderdale, FL 33315 Email: tenglish@hacfl.com Project size Phase I: 143 Garden Phase II: 128 Garden Phase Ill : 84 Townhomes, 66 Garden Phase IV: 138 Garden Phase V: 100 Mid-rise, 100 Garden Total: 759 units Construction completion Phase I: September 2011 date Phase II: February 2014 Phase Ill: November 2012 Phase IV: May 2014 Phase V: Februa ry 2017 (Rehabilitation)/M ay 2017 (New construction } Funding sources and Phase V mounts Broward County Tax-exempt bonds: $14,000,000 Bank of America 1st Mortgage: $6,500,000 FHFC SAIL Loan: $4,960,000 FHFC ELI Gap Loan: $1,500,000 HACFL loan: $3,500,000 Bank of America HC Eq u ity: $11,351,105 Ownership type Limited Partnership with HACFL affiliate having a 51% general partner interest and APC a 49% general partner interest. The HACFL currently has a 100% interest (after stabilizati o n). Public programs utilized HAP contract for the 100 rehabilitated units in Phase V Income groups served 30% -60% AMI Phase V (Elde r ly) Project type Garden and mid-rise buildin gs in Phase V Community and supportive Clubhouse, Library, Community Gardens, Fitness Center, Computer Lab, Picnic Area services provided Resident Services include : resident art exhibitions, gardening/planting days, and free BBQ events. Job training programs Local partnerships including Youth Build, Step-Up Apprenticeship Program. provided At Northwest Gardens V, 25% of the hard costs were contracted to MBE/WBE firms, 11% was contracted to Section 3 firms, and 24 Section 3 res idents were hired. For the rehabilitation of Sunnyreach Acres, 51% of the hard costs were subcontracted to Section 3 businesses, five Section 3 residents were hired, and 50% of the total devel opm e nt cost was paid to M BE/W BE firms. Total development costs Total Development Cost: Phase I -$24,068,029 Total Development Cost: Phase II -$23,051,071 Total Development Cost: Phase 111-$24,534,179 Total Development Cost: Phase IV -$27,587,004 Total Devel opme nt Cost : Phase V -$2 5,973 ,074 Tab 2 -Respondent's Qualifications ATLANTIC ~ .... PACIFIC Housing Authority of the City of Fort Lauderdale AIP Communities continues to transform HACFL's portfolio with the completion of the rehabilitation of Sailboat Bend Apartments in the historic Sailboat Bend district in the City of Fort Lauderdale. Sailboat Bend Apartments is a seven-story, 1 OS-unit, senior living development located on the banks of the New River in downtown Fort Lauderdale. The HACFL, which has owned and operated the property since it was built in 1972, partnered with A/P Communities in 2014 to renovate and refinance the 40+ year-old structure. The renovation involved redesigning the units and the community room to comply with UFAS and ADA standards, converting studios into one bedro0m apartments, gutting the unit interiors to provide new Energy Star appliances, and earth friendly flooring and cabinets, modernizing the far;ade by installing a hurricane impact glass curtain wall , and turning the ground floor outdoor space into a plaza to function as a gathering place with seating, community gardens, picnic/BBQ areas, and chess/ checkers tables. All of the living units at Sailboat Bend now feature easy-to-grip lever door handles, cabinet and drawer loop handles, and single-level faucet handles to make the homes more livable for seniors. Clear door opening widths were incorporated for all doorways and interior floor surfaces were designed for easy passage of a wheelchai r or walker with color contrast between floor surfaces and trim. Six of the units were also retrofitted t o be fully ADA and UFAS compliant, handicap- equipped units. In addition, the new development promotes urban self-sufficiency beyond just shelter, as physical and emotional wellness were also goals of the renovation plan . The residents now receive free on-site programs such as a weekly health workshop provided by the Aging & Disab il ity Resource Center of Broward County, financial counsell ing, resident assistance referral services, Zumba exercise classes and planned social activities such as birthday parties, coffee socials, and bingo. Sailboat Bend also helps to facilitate initiatives such as the Step-Up Apprenticeship program, which provides vocational training for seniors as well as the growth of community gardens that enable on-site food production. The redeveloped Sailboat Bend offers a much-improved living environment to the Housing Authority's elderly residents and provides opportunities for seniors to engage in community life and a home where they can age in place. The development was financed with 9% LIHTC obtained through the competitive Florida Housing Finance Corporation application cycle, Broward County HOME funds, and conventional construction/permanent financing from Wells Fargo Bank. In addition, the project is receiving operating subsidy from HUD in the form of Pmject Based Rental Assistance. 26 .ddress '. Client Contact Information & Reference Project size Construction completion date Funding sources and amounts Total development costs I -----·--------·-· -------. - i Ownership type Public programs utilized r------------.. -- . income groups served Development Type ,- 1 Job training programs provided Community and supportive services provided SAILBOAT BEND APARTMENTS 425 SW 4th Avenue, Fort Lauderdale, FL 33315 Tam English, Executive Director Housing Authority of the City of Fort Lauderdale 437 SW 4th Avenue, Fort Lauderdale, FL 33315 Em~~I: tenglis_h@hacfl.com _ 105 Rental Units: 51-Studio, 53 -lBR, and 1 -2BR, including a new community room, lounge area, library, computer lab, exercise room, laundry facility, car care area, gazebo-picnic area, community garden & park benches. May 2015 - Wells Fargo Permanent Loan: $2,950,000 County HOME Loan: $125,000 HACFL Loan: $900,000 Wells Farg_o Equity (9% LIHTq: __ $9,~45_,023 $15.!..175,297 Limited Partnership with HACFL affiliate having a 51% general partner interest and APC a 49% general partner interest. The HACFL currently has _a 109% interes_t {after stabilizat!<?n). HAP Contract --- 25% to 60% AMI -Elderly 7-story building The project facilitated initiatives such as the Step-Up Apprenticeship program which provides vocational training and community gardens that enable on-site food production . Step-Up employees built and installed the kitchen cabinets and baseboards throughout the project. The G.C. on this project went on to hire one of the Step-Up apprentices as a full-time employee after the project was complete. The development team also made every effort to ensure that employment and contracting opportunities were provided to neighborhood residents, public housing residents and other low-income residents of the area by making sure the Section 3 local hiring plan was followed, along with Davis-Bacon wages being paid to each worker on site. Resident programs provided on-site at no cost: Health & nutrition classes, financial counseling, resident assistance referral program, resident activities, and a manager on-site 24 hours per day. In addition, 6 units are set-aside for Persons with a Disabling Condition referred by Archways, Inc. which provides supportive services to these residents. Tab 2 -Respondent's Qualifications ATLANTIC ~6..PA CIF IC Housing Authority of the City of Austin The Studio at thinkEAST is a new 182-unit affordable housing development in eastern Austin, Texas, on 6 acres of a 24-acre property / formerly known as the "Tank Farm," an area where the six largest major oil companies .'.:::::::c:i11111 i1'. operated petroleum storage-tanks and · distribution for decades. I The Housing Authority of the City of Austin ._, ("HACA") purchased a portion of the thinkEAST site and procured AjPC to develop a new affordable housingcommunityof 182 apartment homes targeted for families. Comprised of two 3-story garden-style residential buildings the development features a furnished clubhouse, =-..._-lounge, business center, fitness facility, swimming pool, courtyard and gated entrance . The 4% HTC equity closed at a price per tax credit of $1.15 in January 2017, despite the volatility in the post-election LIHTC market. Sources included tax-exempt bonds issued by the Austin Affordable Housing Co rp oration (an affiliate of HACA) and privately placed by Citi Community Bank, and Wells Fargo equity. For the HACA properties to be exempt from ad valorem taxes, the general partner is a HACA-related entity with AjP serving as Special Limited Partner. Upon stabilization, HACA became the sole owner. The development was completed in October 2018 and is fully occupied. ln 2017, A jP Communities was selected by HACA via a competitive RFP to implement the RAD conversion of Pathways At Goodrich Place. The project, owned by HACA, is a redevelopment of an exist i ng 1973 public housing site southwest of downtown Austin, in the Zilker neighborhood, one of Austin1s highest opportunity areas. In 2017, AIP won 9% LIHTC for Pathways At Goodrich Place; it was the housing authority's first time winning competitive tax credits in its 80-year history. By pairing RAD with a successful award of 9% LIHTC, we were able to triple the number of affordable units in this neighborhood. This mixed-income, mixed -financed, 120-unit family development will be contained in a new 3-story residential building wrapped around a parking facility with 1, 2, 3 and 4-bedroom units at 40%., 50%, 60% AMI, including 40 RAD units and 10 market-rate units. Once construction is complete, all the public housing residents will have the right to return and will be given the first choice of the new units to relocate back to and call home. The dev,elo pment will feature a fully furnished clubhouse, a business center with computer and internet access, community meeting room, a fitness center, common area laundry facilities and a playground . Updated unit features will include solid surface countertops, walk-in closets, 9-foot ceilings, covered patios and balconies, high-speed cable and internet access. The development will also meet Austin Energy Green Building standards per the City of Austin's SMARTHousing Po l icy Initiative and will implement a solar photovoltaic system under Austin Energy's new Shared Solar Pi lot Program which is anticipated to reduce resident's electric bills by 30 -40%. In add ition, residents will have acces s to on -site health and wellness programs, youth activities and job training opportunities. 28 Address lient Contact Information & Reference r - Project size I Completion Date Funding Sources and Amounts T..9tal DE:v_elopment Cost Ownership type Public programs utilized J ~l'!c~me gr~ups serve d - ~evelopment type Job training programs provided :ommunity and supportive services provided THE STUDIO AT thinkEAST 1143 Shady Lane, Austin, TX 78721 Ron Kowal, Vice President Housing Authority of the City of Austin 1124 S. IH 35 Austin, TX 78704 Email : __ ~onk@hacanet.org _ _ .. _ Studio, 583 sf, SO units; 1 Bedroom, 670 sf: 65 units; 2 Bedroom, 1067 sf, 58 units; 3 Bedroom, 1265 sf, 9 units Total Unit 182 October 2018 Citi Community Construction Loan: Citi Community Permanent Loan: Wells Fargo (4% _Equity): ___ _ $27,154,155 Non -profit N/A 60% AMI or below Garden --- $21,800,000 $15,560,000 $11,204,889 --·-· -·---·----------- Percentage of Contracted Minority-Owned Businesses: Construction: 30.54% _ryl~__n~_ge~ent: ?9.0_8_% __ Arts & Crafts Character Building Financial Planning Course Health & Nutrition Recreational Activities Scholastic Tutoring Youth Programs ~ocial Eyerit:5 (a~ least_~~ p_er monJh) Tab 2 -Respondent's Qualifications ATLANTIC ...,._PACIFIC Miami-Dade Public Housing & Community Development ln 2015, AIPC delivered Phase I of the master planned Audrey M. Edmonson Transit Village (fka Seventh Avenue Transit Village), a mixed-use/mixed-finance, sustainable TOD, 76 -unit affordable housing development in Liberty City. The second phase, delivered in June 2017, consists of 100 apartment homes with extensive resident amenities including a rooftop pool and 4,000 square feet of ground commercial space. This development serves as a significant hub for economic development, cultural enrichment, transportation, and much needed new, quality affordable housing. The master planned development, created through several public-private partnerships involving Miami-Dade County Public Housing & Community Development, Transit, Department of Cultural Affairs, Internal Services Division, the City of Miami, AIPC and BAME Development Corporation of South Florida, Inc., has transformed the block into a compact, urban infill community. This exciting endeavor marks a major step in the revitalization of Liberty City. The $67M development is the first of its kind in Liberty City and created hundreds of jobs during construction. Located on Martin Luther King, Jr. Boulevard and NW 7th Avenue, the first phase is a LEED Silver certified development consisting of 76 apartment hom es and resident amenities; a five -bay MDT bus transit hub; a 22,000-square foot "black box" performing arts theater with 2,400 square feet of studio and gallery space presenting works by local artists and non -profits; a 156-spa ce parking garage; and 1,700 square feet of ground floor commercial space. Industry leaders have stated that Phase I was one of the more complex financing structures of any affordable development undertaken in the country. The debt was originated from seven different lenders, all of which had different requirements and terms. The tax credit equity relied on two key principles: Community Service Facility and Ded icated Improvements; these generated necessary vital housing tax credits from expenditures on the cultural and transit facilities. AIPC worked closely with its financing partners, underwriters, market study provider, and tax counse to ensure that this novel and complex financing plan was feasible and agreeable to all parties. Phase I is financed with 4% LIHTC from the Florida Housing Finance Corporation and equity from Wells Fargo Bank and subordinate debt from the following financing sources: M iami-Dade County HFA Multifamily Revenue Tax-Exem pt Bonds, County General Obligation Bonds (Housing, Transit and Cultural), County Surtax Loan and City of Miami HOME Loan. Phase II was financed with 9% LIHTC obtained through the competitive Florida Housing Finance Corporation application cycle and equity from Wells Fargo Bank. The development of the Audrey M. Edmonson Transit Village at this key hub in Liberty City is already c reating a lively atmosphere anchored by residents, bus transit hub, and the theater. This multi-phase development will stimulate local economic growth due to the increased accessibility to transit services, while also providing jobs, homes, and a place for the community's artists and children to nurture and display their talents. The complex, multi-phase, mixed-use programming of this important location in Liberty City evidences AIPC's ability to build not just affordable housing, but commercial and public uses that are essential to any growing neighborhood. 30 ATLANTIC ~-.PACIFIC -( ..... .,.,,,, .. _ 31 AUDREY M. EDMONSON TRANSIT VILLAGE (FKA SEVENTH AVENUE TRANSIT VILLAGE) Address 668 NW 62 nd Street, Miam i, FL 33127 Owner: Seventh Avenue I, Ltd. & Seventh Avenue II, Ltd. (Atlantic Pacific Communities, uwner and contact LLC and BAME Development Corpo r ation of South Florida, Inc., non-profit), Contact information Person: Kenneth Naylor, COO (Atlantic Pacific Communities , LLC), 305-357-4700, kna y lo r@ ap com pa nies.com Phase I: 76 affordable rental units Phase II: 100 affordable rental units Project size 176 new sustainable affordable housing units in a mixed-use TOD including parking garage, a bus transfer station, rooftop pool and community garden, community theater with stud io/gall ery space , and retail/commercial space Construction completion Phase I: September 2015 date Phase II: June 2017 Phas e I: HFA of MDC Tax-exempt Bonds $20,000,000 Wells Fargo Permanent Loan $1,775,000 Miami Dade County Housing GOB $10,592,000 Miami Dade County Cultural Arts GOB $5,000,000 Funding sources and Miami Dade County Transit (FTA) $3,000,000 City of Miami HOME Loan $1,500,000 amounts Miami Dade County Surtax Loan $1,400,000 Wells Fargo Equity (4% LIHTC} $15,278,762 Phase II: Wells Fargo Construction loan $15,100,000 Wells Fargo Permanent loan $1,205,910 Wells Fa rgo Eq uity (9% LIHTC} $28,168,183 Ownership type Limited Partnershi p with 51% owned by non -profit general pa rtner and 49% by APC Gap financing was provided from the County from the Surtax program and from the City Public programs utilized of Miami HOME program via competitive RFAs . The County GOB and Transit funds were awarded alo ng with a lon g-te rm groun d lease on the site via a co m peti t ive RFP process Income groups served Phase I: 30% and 60% AMI Phase II: 33% and 60% AMI Development t yp e Two phases in two 9-st o ry build ings Phase II includes units for Youth Aging Out of Foster Care referred by Our Kids of Miami- Dade/Monroe, Inc. Community and supportive Resident programs include: Financial counseling, literacy training, employment assistance program, Tobacco Free Florida events, game nights, crime prevention meetings, and services provided health fairs. A Family Support Coordinator on site to help residents achieve and maintain maximum independence and self-sufficiency. Amenities include: leasing/management office, laundry facilities, community centers , exercise room, computer/library center, picnic area, rooftop swimming pool with deck area and commun ity ga rden , and a gated ent ry pa rki ng g arag e. Phase I: Subcontracted 44% of the development hard costs to Section 3 businesses and Job training programs 53% to DBE/MBE firms. Sixty-five Section 3 employees were hired by subcontractors. Phase II: Employed individuals from Greater Miami Services Corp .; and subcontracted provided with MBE firms with a total contract value of over $SM representing 28.58% of the total construction contract . 1 • otal Development Cost Phase I: Total Development Cost $38,037,890 Phase II : Total Devel op m en t Cost $28 ,720,905 Tab 2 -Respondent's Qualifications ATLANTIC _.,~PACIFIC Financing Experience (3.E .2.b.7.) Preliminary Program Summary To best address the dire need for affordable and workforce housing on Miami Beach, AIP Communities is proposing to maximize the number of units on the Normandy Isle sites. Designed by local Miami architectural firm, Corwil Architects, the preliminary conceptual plan adheres to the key tenet of Smart Growth, which is to build communiti-es with housing and transportation choices near jobs, schools, shops and recreation. The plan creates a quality walkable community that provides housing to residents with incomes ranging from 30% of the Area Median Income ("AMI") to 80% AMI. The preliminary design includes four LEED Gold certified mid -rise buildings totaling approximately 130 apartment homes with related amenities as detailed below. Features & Amenities Common Area Amenities • Multi-purpose community room with Wi -Fi and kitchenette; room designed to accommodate a broad range of activities including free resident services such as educational activities, financial counseling, health and nutritio n classes, as well as entertainment and social gatherings • On-site parking • Fully equipped fitness center • Common area laundry facility • Business center with computers with internet access and printer • Controlled access • On-site management/leasing office and maintenance facilities Unit Features • Full size electric range and oven • Energy efficient central air conditioning • Energy Star refrigerator and dishwasher • Energy Star ceiling fans with light fixtures in the living room and bedroom • Window treatments • Walk-in closets • Units will be wired for cable and high-speed internet • Programmable thermostats • Water Sense certified dual flush toilets • Washer and dryer hook ups In addition to the green features noted we commit to achieve LEED Gold certification . Financing Strategy We understand that many stakeholders have yet to weigh in on a Development Plan and that some assumptions may need to change based on this feedback. The numbers provided are based on a preliminary design concept and the information we have at this time; we realize that there will be future information to be incorporated that may affect assumptions and outcomes. We have provided two financing scenarios, a 9% LIHTC development and a tax-exempt bonds/ 4% LIHTC financed development; see attachments for detailed proformas. The 9% LIHTC structure would not require any gap funds. A bond/4% LIHTC structure would re quire additional funds such as SAIL or CDBG -DR loans from Florida Housing Finance Corporation, as well as local gap financing such as Miami-Dade County SURTAX or HOME program funds. Below is a tentative t i meline of when these applications would be due. 33 Tab 2 -Respondent's Qualifications ATLANTIC _..,._PACIFIC Description Finance Source Application Deadline (estimated) SAIL , SAIL ELI Loans , FHFC SAIL RFA Tax -exempt Bonds, 4% O ctober 10, 2019 LIHTC FHFC Miami -Dade County RFA 9% LIHTC October 15, 2019 FHFC Workfo r ce SAIL RFA SAIL Loan , Tax-exempt February 2020 Bonds, 4% LIHTC Miam i-Dade County RFA HOME Lo an May 2020 Miami-Dade County RFA SURTAX Loan July 2020 If selected, AIP Communities would form a single purpose limited partnership (the "Partnership") for the development. A for-profit subsidiary of a non-profit affiliate of the Housing Authority of the Cfty of Miami Beach ("HACMB") would serve as the general partner of the Partnership. An AIP Communities affiliated entity would serve as either the managing general partner or a special limited partner of th e Partnersh ip and wo u ld h av e certai n o ve rs ight and approval rights . The Partnership, general p art ner(s) and spec ial limited partner entitie s w ill be formed before closing any financing for th e ac q ui sition and con st r ucti on of the d evel o p m ent. With the equity and construction loan closing, the land would be leased to the Partnership under a long-term ground lease (99 years). The ownership structure with AIP as a Special LP could generate a 100% ad valorem tax exemption for senior developments (note the attached budgets do not make this assumption in efforts to be more conservative at this time). The improvements, fixtures and personal property pertaining to the project will be owned by the Partnership. A single-asset developer entity (the "Developer") (typically a limited liability company) with HACMB and AIP affiliated single asset entities serving as members wou ld a ls o b e created t o sh a re developer fees . The Developer and the Partnership will enter into a d eve lo p ment agreement fo r t he project that will cover all aspects of the development. Pre-deve lopment co sts w o u ld be sha red by both pa rtie s, HACMB w ould fund costs until an award of LI HTC (or a SAIL loan ) an d A jP woul d t h en p ay for pre-d eve lopment costs . To offset this risk, the fi rst 75% of the deve l ope r fe e will be pa id to A IP an d the re mainin g, 25% of the developer fee will be paid to HACMB. A fter full pa y me nt of the developer fee and any other priority net cash flo w pa y m ents esta blish ed i n the Partn ersh ip Agreement, any cash flow will be paid 50% to HACMB and 50% to AIP, except any portion payable to the LIHTC investor. All operating deficit loans or partners loan would be repaid prior to payment of incentive or management fees . Ent ity Cash Flow Developer Fee Housing Authority of the City of Miami 50% 25% Beach AtlanticlPacific Communities 50% 75% Atlantic Pacific Community Management would manage the developments on a day-to-day basis and provide compliance services, subject to entering into a management agreement with the Partnership on terms and conditions customary in the industry and acceptable to the lenders and the limited partners. 34 Tab 2 -Respondent's Qualifications ATLANTIC ~._PACIFIC In addition to the financial benefits stated above, HACMB will benefit from the proposed development plan as follows: ❖ HACMB will have the option , after stabilization, to replace the managing general partner (if this structure is selected) and manage the property (subject to lender/investor approval and takeover of all guaranties); ❖ HACMB will have an option and right of first refusal to acquire the Development; ❖ HACMB will retain long-term ownership of the site with a long-term master ground lease; ❖ HACMB will have assurance the development will remain affordable with recorded land use restriction agreements; and ❖ HACMB will stretch its dollars farther due to AjP's ability to negotiate the most favorable financing terms. 35 HACMB Site -130 units 9% -Miami Beach, FL Project Setup Project Name HACMB Site -130 units 9% City M_lami Beach County, State Miami-Dade .County, FL State FL Ownership Entity a Development Manager 0 Develooment Accountant 0 Bond Deal No Credit Rate 9 .00% Building Type Low Rise Project Type New Construction Qualifying Program Average Income !% of Affordable Hou si ng llnl\s 100.0% Units Count SF Utilitv Allowance Studio --56 1 Bedroom 130 625 B9 2 Bedroom --141 3 Bedroom --213 4 Bedroom --287 Rent Schedule # of Units Unit Type VLI/LI/MKT Unit Sq. Ft. 1 Bedroom 21 ELI 625 1 Bedroom 79 vu 625 1 Bedroom 30 LI 625 Total/Averaae 130 81 ,250 Operating Eipenses Total PorUnit Administrative 65,000 500 M anagement Fee (% of EGI) 78,501 604 Utilllles 104,000 800 Payro ll, Taxes & Benefits 175,968 1,354 R &M 104,000 800 Insurance 78,000 600 Real Estate Taxes 111,467 857 Security 58,500 450 Reolacament Reserves 39,000 300 Total 814,437 6,265 Senior Debt Service Coverage 1.20x Total Debt Service Covera!le 1.20x Rent Limit 30% 60% 80% P.S.F. (rentableJ $0 .80 $0.97 $1 ,28 $2 .17 $1.28 $0.96 $1 .37 $0.72 S0.48 2019 Rents $476 $953 $1 .271 Tlmlno Date IMM/YYl Predeve lopment Start Sep-19 Closing Date Sep-20 Fi rst Unit Occupied Nov-21 Last Unit Occupied Mar-22 Pennanent Loan Closl1 AuQ-22 Credit Delive_l}f_Schedule Lease-up Information # of Occupancies upon lnillal C/O # of Occup;mcies p_er Montt Type % Units ELI 16.2% vu 60 .8% LI 23 .1% WKFC 0.0% MKT 0,0% Total 100.0% Net Rent Total Rent Annual $3B7' 97,524 $864 819,072 $1 ,182 425 520 111,843 1,342,116 Other Income Laundry Income Cable Income Parking Income Other Income Total Other Income Elaosed Months 14 4 5 %SF 16% 61% 23% 0% 0% 100.0% 2021 2022 2023 Rent P.S.F, $0.62 $1.38 $1139 $1.38 Per Unit - - - 270 270 ~ANTIC ~ .. PACIFIC ----(1,. .. 1,1 ,..., •• ,._ €umulatiile Months 14 18 23 $0 $2 ,540 ,922 $2,752 ,666 30 30 %Income 7% 61% 32% 0% 0% 100.0% Per Annum - - - 33 ,345 33 ,345 36 HACMB Site -130 units 9% -Miami Beach, FL Sources & Uses Permanent Phase Sources Ref. Total % Permanent First Mortgage 6,496,569 19 .07% Limited Partner Equity 27,526 ,657 80 .81% Deferred Developer Fee 41,617 0.12% Total Sources 34,064,843 100.00% Permanent Phase Uses Total % Hard Construction Costs 18,325,461 53.80% Recreational/Owner Items 350,000 1.03% Hard Cost Contingency 5 .0% 916,273 2.69% Art in Public Places 1.5% 469 ,243 1.38% Construction Interest Expense 2,143 ,481 6.29% Permanent Loan Origination Fee 16,241 0 .05% Permanent Loan Closing Costs 57,170 0.17% Construction Loan Origination Fee 246 ,000 0.72% Construction Loan Closing Costs 49 ,200 0.14% Accounting Fees 40 ,000 0.12% Application Fees 6 ,000 0.02% Appraisal 12,000 0.04% Architect Fee -Design 3 .0% 750,000 2 .20% Architect Fee -Supervision 100 ,000 0.29% Builder's Risk Insurance 75,000 0.22% Building Permit 3.8% 694 ,581 2.04% P&P Bond 141 ,606 0.42% Credit Underwriting Fee 13 ,695 0.04% Engineering Fee 180,000 0.53% Environmental Report 37,500 0.11% FHFC Administrative Fees 247,765 0.73% FHFC Application Fees 3,000 0.01% FHFC Compliance Mon . Fee 230,616 0.68% Impact Fees 171,019 0.50% Inspection Fees 160,000 0.47% Insurance -Property/Liability 78,000 0 .23% Legal Fees -Partnership 300,000 0.88% Legal Fees -Other 150,000 0.44% Market Study 8,000 0.02% Marketing & Advertising 35,000 0.10% Stabilization Operating Expenses 105 ,090 0.31% Property Taxes 111,467 0.33% Soil Test Report 8,000 0.02% Survey (Including As-Built) 25,000 0.07% Title Insurance & Recording 251,348 0.74% Utility Connection Fee 140 ,585 0.41% Soft Cost Contingency 5.0% 203,764 0.60% Sub-Total 26,852,105 Miscellaneous Reserves 3 months $306 ,237 0.90 % Land , To Be Acquired 2,600,000 7.63% Developer's Admin . & Overhead 4 .0% 1,074,084 3.15% Develooer's Profit 12.0% 3 ,232,416 9.49% Total Project Cost 34,064,843 100.00% 7/12/2019 5:45 PM Per Unit 49,974 211 ,744 320 262,037 Per Unit 140,965 2 ,692 7 ,048 3,610 16,488 125 440 1,892 378 308 46 92 5 ,769 769 577 5,343 1,089 105 1,385 288 1,906 23 1,774 1,316 1,231 600 2 ,308 1,154 62 269 808 857 62 192 1,933 1,081 1,567 2,356 20 ,000 8 ,262 24 ,865 262,037 ATLANTIC ~ .. PACIFIC 2 of 3 37 HACMB Site -130 units 9% -Miami Beach, FL Operating Statement Income: Year1 PerUnil Year2 Year3 ~ Years Year& Year7 Net Rental Income 1,342,116 10,324 1,368,958 1,396,337 1,424,264 1,452,750 1,481,805 1,511,441 Reserve For Vacancy (67,106) 516 (68,448) (69,817) (71,213) (72,637) (74,090) (75,572) Other Income 33,345 257 34,345 35,376 36,437 37,530 38,656 39,816 Total Income 1,308,355 10,064 1,334,856 1,361,896 1,389,488 1,417,642 1,446,370 1,475,684 Expenses: Year1 PerUnil Year2 Year3 Year4 Years Year& Year7 Administrative 65,000 500 66,950 6B,959 71,027 73,158 75,353 77,613 Management Fee(% of EGI) 78,501 604 80,091 B1,714 83,369 85,059 B6,782 B8,541 Utilities 104,000 800 107,120 110,334 113,644 117,053 120,565 124,1B1 Payroll, Taxes & Benefits 175,968 1,354 181,247 186,684 192,285 198,054 203,995 210,115 R&M 104,000 800 107,120 110,334 113,644 117,053 120,565 124,181 Insurance 78,000 600 80,340 82,750 85,233 B7,790 90,423 93,136 Real Estate Taxes 111,467 857 114,811 118,256 121,803 125,457 129,221 133,098 Replacement Reserves 39,000 300 40,170 41,375 42,616 43,895 45,212 46,568 Security 58,500 450 60,255 62,063 63,925 65.642 67,818 69,852 Total Expenses B14.437 6,265 838,105 66:Z.467 887:546 9 13.360 939,933 967.286 Net Operating Income 493,919 3,799 496,751 499,429 501,942 504,2B2 506,437 508,398 Debt Service: Year1 PerUnil Year2 Year3 Year4 Years Year& Year7 Permanent First Mortgage Service 410,513 3,15B 410,513 410,513 410,513 410,513 410,513 410,513 Asset Management Fee 5,000 3B 5,150 5,305 5,464 5,628 5,796 5,970 Deferred Developer Fee 41 ,617 320 0 0 0 0 0 0 Total Debt Service •57,1 30 3,516 415,663 415,817 4 15 ,977 416,141 41S,309 416,463 Distributable Cashflow 36 ,7B9 283 81 ,088 83 ,611 Bb .966 88 .141 90,128 91 ,91!; Beginning DDF 41,617 320 0 0 0 0 0 0 DDF Repayment 41,617 320 0 0 0 0 0 0 Ending DDF 0 0 0 0 0 0 0 0 Debt Service Coverage: Permanent First Mortgage Service 1.20x 1.21x 1.22X 1.22x 1.23x 1.23x 1.24x ~ Year9 ~ Year 11 1,541,669 1,572,503 1,603,953 1,636,032 (77,083) (78,625) (80,198) (81,802) 41,010 42,240 43,508 44,813 1,505,596 1,536,118 1,567 ,263 1,599,043 YearB Year9 Year 10 Year 11 79,942 82,340 84,810 87,355 90,336 92,167 94,036 95,943 127,907 131,744 135,696 139,767 216,418 222,911 229,598 236,486 127,907 131,744 135,696 139,767 95,930 98,808 101,772 104,825 137,091 141,203 145,439 149,803 47,965 49,404 50,886 52,413 71 ,9A8 74 ,106 76,32!1 78.619 995,A43 1.024,428 1.054 264 1,084,978 510,153 511,690 512,999 514,065 Years Year9 Year 10 Year 11 410,513 410,513 410,513 410,513 6,149 6,334 6,524 6,720 0 0 0 0 416.662 416,647 417,037 417,233 93,490 94.B43 95,962 96,B33 0 0 0 0 0 0 0 0 0 0 0 0 1.24x 1 25x 1.25x 1,25x Year 12 Year 13 1,668,753 1,702,128 (83,438) (85,106) 46,157 47,542 1,631,47 2 1,664,563 Year 12 Year 13 89,975 92,674 97,888 99,874 143,960 148,279 243,581 250,888 143,960 148,279 107,970 111,209 154,297 158,926 53,985 55,605 80.978 83,407 1116,595 1.149,141 514,877 515,422 Year 12 Year 13 410,513 410,513 6,921 7.129 0 0 417.434 417.642 97,443 97.7B0 0 0 0 0 0 0 1.25x 1.26x Year 14 1,736,170 (86,809) 48,968 1,698,330 Year 14 95,455 101,900 152,728 258,415 152,728 114,546 163,693 57,273 85.909 1,1Bi!,645 515,684 Year 14 410,513 7,343 0 417,856 97,B29 0 0 0 1.26x 1. ~ANTIC ~ .. PACIFIC Year 15 1,770,894 (88,545) 50,437 1,732;786 Year 15 98,318 103,967 157,309 266,167 157,309 117,982 168,604 58,991 88.486 1,217,135 515,651 Year 15 410,513 7,563 0 4i8.076 97,575 0 0 0 1-26x 38 HACMB Site -4% -Miami Beach, FL Project Setup Projec\ N ems HACMB Site -4% City Miami Beach Coll11\y. Stale Miami-Dade County, FL Stale FL Ownership Entity Development Manager D eveloomen t Accounlanl Bond Deal Yes Credit Rate 3.25% Building Type Mid Rise Project Type New Construction Qualifying Program Average Income I% of Affordable I-lousing Units Units Count SF Stu dio -- 1 Bedroom 130 600 2 Bedroom - 3 Bedroom -- ~ Bedroom - 5 Bedroom - Rent Schedule #of Units Unit Type VLIILIIMKT 1 Bedroom 21 ELI 1 Bedroom 79 vu 1 Bedroom 30 LI Total/Average 130 Operating Expenses Total Administrative 65,000 Management Fee(% of EGI) 78,501 Utilities 104,000 Payroll, Taxes & Benefits 175,968 R&M 104,000 Insurance 78,000 Real Estate Taxes 111,467 Security 58,500 Reolacement Reserves 39-000 Total 814,437 Senior Debt Service Coverage Total Qebt Sf!Mce Coyeraoc 100.0% UA 56 89 ,~1 2 13 287 360 Unit Sq. Fl. Rent Limit 600 30% 600 60% 600 80% 78,000 Per Unit P.S.F. frentablel 500 $0.83 604 $1 ,01 BOO $1 .33 1,354 $2.26 BOO $1 .33 600 $1 .00 857 $L43 450 $0.75 300 $0.50 6,265 1.25x 1.10X 2019 Rents $476 $953 $1 271 Tlmlna Predev~I0pfllBnt Start Date Closing Dale Rr:st Unit Occupied Last Unit Occupied Perma nent Loan Closino Da te Credit Delivery Schedule lease-up lnforniallun # of Qca,pancfu upon lnlUal C/0 # of Ocwpanci'e,; per Month Type ELI vu LI WKFC MKT Total Net Rent $387 $864 $1 182 111 843 Dille lMMIYTJ Sep-19 Sep-20 Nov-21 Mar-22 Aun.22 % Units 16.2% 60.B% 23,1% 0 .0% 0.0% 100.0% Total Rent Annual 97,524 819,072 425 520 1 342,116 Othor Income La undry Income Cable Income Parking Income Olher Income Total Other lncame Elaps ed Montm 14 4 5 %SF 16% 61% 23% 0% 0% 100.0% 2021 2022 2023 Rent P.S.F. $0,65 $1.44 $1 .97 $1,43 Per Unit -- 270 270 }_ ANTIC ~ .. PACIFIC --t.o",.'"""111-- Cumulative Monlhs 14 18 :r-I $0 $1,072,326 $1,__1_§1_._686 30 30 °.lulncome 7% 61% 32% 0% 0% 100.0% Per Annum --- 33 34,5 33 345 39 HACMB Site -4% -Miami Beach, FL Sources & Uses Sources Ref. Total Perm anent Tax Exempt Bond 6 ,577 ,603 Surtax 5 ,200 ,000 SAIL 6,300,000 Limited Partner Equity 11 ,733,028 Deferred Developer Fee 730,704 Total Sources 30,541 ,335 Uses Total Ha rd Construction Costs 17,74 5 ,726 Recreational/Owner Items 350,000 Hard Cost Contingency 5.0% 887,286 Art in Public Places 1.5% 439,314 Construction Interest Expense 1,286,754 Permanent Loan Origination Fee 16,444 Permanent Loan Closing Costs 57,883 Construction Loan Origination Fee 122,400 Construction Loan Closing Costs 30,600 Costs of Issuance 437,800 Other Loan Closi ng Costs 129 ,650 Accounting Fees 40,000 Application Fees 6,000 Appraisal 12,000 Architect Fee -Design 3.0% 750,000 Architect Fee -Supervision 75,000 Builder's Risk Insurance 70,000 Building Permit 3.8% 672,851 P&P Bond 137,126 Credit Underwriting Fee 24,551 Engineering Fee 180,000 Environmental Report 37,500 FHFC Administrative Fees 104,562 FHFC Application Fees 3,000 FHFC Compliance Mon . Fee 230,616 Impact Fees 167,769 Inspection Fees 160,000 Insurance -Property/Liability 78,000 Legal Fees -Partnership 300,000 Legal Fees -Other 150,000 Market Study 8,000 Marketing & Advertising 35,000 Stabilization Operating Expenses 105,090 Property Taxes 111,467 Soil Test Report 8 ,000 Survey (Including As-Built) 25,000 Title Insurance & Recording 294,596 Utility Connection Fee 140,585 Soft Cost Contingency 5.0% 196,336 Sub-Total 25 ,626 ,906 Miscellaneous Reserves 3 months $302,581 Land , To Be Acquired 0 Developer's Admi n. & Overhead 4.0% 1,025 ,076 Develope r's Profit 14.0% 3 ,586 ,772 Total Project Cost 30 ,541 ,335 7/12/2019 5:56 PM Permanent Phase % 21 .54% 17.03% 20 .63% 38.42% 2 .39% 100.00% Permanent Phase % 58 .10% 1.15% 2 .91% 1 .44% 4 .21 % 0.05% 0.19% 0.40% 0.10% 1.43% 0.42% 0.13% 0 .02% 0.04% 2.46% 0.25% 0.23% 2.20% 0.45% 0.08% 0.59% 0.12% 0.34% 0.01% 0.76% 0.55% 0.52% 0.26% 0 .98% 0.49% 0.03% 0.11% 0.34% 0.36% 0.03% 0.08% 0.96% 0.46% 0.64% 0.99% 0.00% 3.36% 11.74% 100.00% Per Unit 50,597 40,000 48,462 90,254 5 ,621 234 ,933 Per Unit 136,506 2,692 6 ,825 3,379 9 ,898 126 445 942 235 3,368 997 308 46 92 5 ,769 577 538 5,176 1,055 189 1,385 288 804 23 1,774 1,291 1,231 600 2 ,308 1,154 62 269 808 857 62 192 2 ,266 1,081 1,51 0 2 ,328 . 7,885 27 ,591 234,933 ATLANTIC ~ .. PACIFIC 2 of 3 40 HACMB Site -4% -Miami Beach, FL Operating Statement Income: Year 1 Per Unit Year2 Year3 Year4 Years Year& ~ Net Rental Income 1,342,116 10,324 1,368,958 1,396,337 1,424,264 1,452,750 1,481,805 1,511,441 Reserve For Vacancy (67,106) 516 (68,448) (69,817) (71,213) (72,637) (74,090) (75,572) Other Income 33,345 257 34 ,345 35 .3 76 36 ,437 37 ,53 0 38,6 56 39,816 Total Income 1,308,355 10,064 1,334,856 1,361 ,896 1,389,488 1,4 17,642 1,44 6,370 1.475,684 Expenses: Year1 Per Unit Year2 Year3 Year4 Year5 ~ Year7 Administrative 65,000 500 66,950 68,959 71,027 73,158 75 ,353 77,613 Management Fee(% of EGI) 78,501 604 80 ,091 81,714 83 ,369 85 ,059 86 ,782 88 ,541 Ulilijies 104,000 800 107,120 110 ,334 113,644 117,053 120,565 124,181 Payroll, Taxes & Benefits 175,968 1,354 181 ,247 186,684 192,285 198,054 203,995 210,115 R&M 104 ,000 800 107.120 110,334 113,644 117,053 120,565 124.181 Insurance 78,000 600 80,340 82,750 85,233 87 ,790 90,423 93,136 Real Estate Taxes 111,467 857 114,811 118,256 121,803 125,457 129,221 133,098 Replacement Reserves 39 ,000 300 40,170 41 ,375 42,616 43,895 45,212 46,568 Security 58,500 450 60.255 62,063 63.9 25 65.842 67,818 69,852 Total Expenses 8 14 ,437 6.265 838,1 05 862,467 887,54 6 9 13 ,360 939 ,933 967 ,286 Net Operating Income 493,919 3,799 496,751 499,429 501,942 504,282 506,437 508,398 Debt SeNice: Year1 Per Unit Year2 Vear3 Year4 Years Year& Year7 Permanent Loan Service 395,887 3,045 395,887 395,887 395,887 395,887 395,887 395,887 Asset Management Fee 5,000 38 5,150 5,305 5,464 5,628 5,796 5,970 Deferred Developer Fee 93,032 716 95,714 98,237 100,592 102,768 104,754 106,541 Surtax Service 52,000 400 52 ,000 52 ,000 52 ,000 52 ,000 52,000 52,000 SAIL Service 0 0 0 0 0 0 0 0 Total Debt Service 645.919 4.199 648,751 551.429 553,114 2 556 ,2 82 558,437 560 398 Distributable Cashflow -52 000 -'100 =!,2,000 -52.000 -52,000 ·52.000 -52.000 =i,2 _000 Beginning DDF 730,704 5,621 637,673 541 ,958 443,721 343,129 240 ,362 135,608 DDF Repayment 93.032 716 95,7 14 98.237 100,592 102.?Bfl 104,754 106.541 Ending DDF 637,673 4 ,905 54·1,958 443,721 343,129 24 0,362 135.608 29 .067 Debt Service Coverage: Permanent Loan Service 1.25x 1.25x 1.26x 1.27x 1.27x 1,28x 1,28x Surtax 1.1ox 1.11x 1.12x 1.12x 1,13x 1,13x 1.14x SAIL 1.10x 1,11x 1.12x 1.12x 1.13x 1,13x 1.14x YearB Ylli.l! ~ Year 11 1,541,669 1,572,503 1,603,953 1,636,032 (77,083) (78,625) (80,198) (81,802) 41,0 10 42,240 43,508 44 ,813 1.505.596 1,536.118 1.567',263 1,599,04 3 Year8 Year9 ~ ~ 79 ,942 82,340 84,810 87 ,355 90,336 92,167 94,036 95,943 127,907 131,744 135,696 139 ,767 216,418 222,911 229,598 236,486 127,907 131 ,744 135,696 139,767 95,930 98,808 101,772 104,825 137,091 141 ,203 145,439 149,803 47 ,965 49,404 50 ,886 52,413 7 1,948 74.,106 76,329 7 8,6 19 995,44 3· 1,024.428 1.054.264 1.084 ,978 510,153 511,690 512,999 514,065 Year& Year9 Year 10 Year 11 395,887 395,887 395,887 395,887 6,149 6,334 6,524 6,720 29 ,067 0 0 0 52 ,000 52 ,000 52,000 52 ,000 0 0 0 0 483 103 454,221 454 ,4 11 454,607 2 7.0~ 57.469 $.6ll8 59.459 29 ,067 (0) (0) (0 ) 29,067 0 0 0 (0 ) (0) (0) (0) 1.29x 1,29x 1.30x 1.30x 1,14x 1,14x 1.15x 1.15x 1,14x 1,14x 1.15x 1.15x Year 12 Year 13 1,668,753 1,702,128 (83,438) (85,106) 46 ,157 47,542 1,631,472 1,664 .563 Year 12 Year 13 89 ,975 92,674 97 ,888 99 ,874 143,960 148,279 243,581 250,888 143,960 148,279 107,970 111,209 154,297 158,926 53 ,985 55,605 80.978 83.407 1.116.595 1,149.141 514,877 515,422 Year 12 Year 13 395,8B7 395,887 6,921 7,129 0 0 52 ,000 52 ,000 0 0 454 ,808 455,016 60,069 60,4 06 (0) (0) 0 0 (0 ) (0) 1.30x 1.30x 1,15x 1.15x 1.15x 1,15x 1 . ~ANTIC _.,.._PACIFIC -<O Wto i,t M lfll l -- Year 14 Year 15 1,736,170 1,770,894 (86,809) (88,545) 48,968 50.437 1.698,330 1,732,786 Year 14 ~ 95,455 98,318 101 ,900 103,967 152,728 157,309 258,415 266 ,167 152,728 157,309 114,546 117,982 163,693 168,604 57 ,273 5B,991 85.909 88.400 i ,182 ,645 \,217,135 515,684 515,651 Year14 Year 15 395,887 395,887 7,343 7,563 0 0 52 ,000 52 ,000 0 0 455 _230 455.4 50 60.4 55 Ei0,201 (0 ) (0) 0 0 (0) (O) 1.30x 1.30x 1,15x 1.15x 1,15x 1.15x 41 Tab 2 -Respondent's Qualifications ATLANTIC A!._PACIFIC Finance Experience AIP Communities has a strong background in financial analysis and extensive experience with housing developments that incorporate Low-Income Housing Tax Credits ("LIHTC") and other forms of affordable and workforce housing financing . AIP is uniquely adept at securing Low-Income Housing Tax Credits and scarce subsidies in competitive solicitations, developing innovative f i n ancing strategies, raising capital at favorable terms, and closing deals with multiple sources of financing. The team will also analyze loan programs such as the FHA 221 (d)(4) guaranteed by HUD as a feasible alternative. We also conduct due diligence to see if a site is located in an Opportunity Zone, Brownfield or CRA for potential sources, the Normandy Isle sites are not located in these areas. In addition, AIP uses conservat ive assumptions in its Sources and Uses models, for example by adding a cu shi on to in terest rates an d c onst ructio n cost s a nd using today's rents versu s li kely h ig her re nts t hat wil l b e in p l ace at the ti me of fin anci a l cl o si ng. Thi s m etho dology comb i ned wi t h o u r deep k nowled g e a nd experience al lows A IP t o navigate the turb u lent LIHTC eq u ity an d d e b t markets which are reacting to uncertainty on inte rest rate s and tax reform , and Pre sident Trump's economic policies to reduce the US trade deficit. LIHTC Financing Th e Aj P t eam su cces sfully competed for a m::l wa s recommended for 9% LIHTC or SAIL program fu ndi n g fro m th e Florida Housi ng Fi n a nce Corporation ("FHFC") and the Texas Department of Housing & Co mm u n ity Affa i r s ("TDHCA") for 13 d evelopments, 4 with public housing partners and 5 w ith no n-profit pa rtners, i n th e l ast t h re e cycl es: 1. Northside Transit Village IV (SAIUSAIL ELI, tax-exempt bonds/4% LIHTC): 120 new units for seniors on a site under a long term ground lease agreement with Miami-Dade County Public Housing & Community Development and Miami-Dade Transit. 2 . Northside Transit Village II (9% LIHTC): 180 new units. Upon completion, there will be a total of 400 quality affordable apartments at the Northside Metrorail Station. 3. Saratoga Crossings, Dania Beach, Broward County (9% LIHTC): 128 new fam i ly units to replace obsolete public housing units in partnership with the Dania Beach Housing Authority. 4. Saratoga Crossings II, Dania Beach, Broward County (9% LIHTC): 44 new elderly un its supporting the local government revitalization efforts ofthe Dania Beach Housing Authority, the Dania Beach CRA and the City. 5. Poinciana Crossing, Fort Lauderdale, Broward County (9% LIHTC): 113 new mixed-income units with 8 market rate units and the balance at or below 80% AMI in partnership with the Housing Authority of the City of Fort Lauderdale. 6. Residences at Dr. King Boulevard, Miami, Miami-Dade County (9% LIHTC): 120 new mi x ed - income units with 12 market rate units and the balance at or below 80% AMI on land competitively procured from the City of Miami in partnership wi t h the Martin Luther King Economic Development Corporation . 7. Marian Towers, Sunny Isles Beach, Miami-Dade County(9% LIHTC): Substantial rehabilitation of a 220-unit elderly high-r ise owned by Catholic Health Services. 8. St. Elizabeth Gardens, Pompano Beach, Broward County (9% LIHTC): Substantial rehabilitation 153-unit elderly development owned by Catholic Health Services. 42 Tab 2 -Respondent's Qualifications ATLANTIC ...._PACIFIC 9. St. Andrew Tower I, Coral Springs, Broward County (9% LIHTC): Substantial rehabilitation 219-unit elderly development owned by Catholic Health Services. l 0. Pathways at Goodrich Place, Austin, Travis County (9% LIHTC): Joint venture with the Housing Authority of the City of Austin to redevelop an existing public housing site, demolish 40 units and build 120 new mixed-income, mixed-finance family units with 10 market rate units and the balance at or below 60% AMI with 42 RAD units. 11. The Terraces At Arboretum, Houston, Fort Bend County (9% LIHTC): 112 new mixed-income family units with 14 market rate units and the balance at or below 60% of the Area Median Income ("AMI"). 12. The Bristol, San Antonio, Bexar County (9% LIHTC): 96 new mixed-income family units with 9 market rate units and the balance at or below 60% AMI. Recently, AIP won $1.SM in 9% LIHTC and a $4M grant to develop The Village of Casa Familia on a county-owned site in Kendall with local Miami non-profit, Casa Familia. This will be the first affordable housing development for adults with intellectual or developmental disabilities (IDD) in Miami-Dade County. The Village of Casa Familia will provide 50 affordable apartment homes for IDD population, with amenities and supportive services. Prior to and throughout the process of securing financing for a development, our team strategizes to ensure our sites rank competitively according to the requirements and scoring criteria for the variol.Js funding applications. AJP staff attends and participates in rule-making workshops and the application workshops hosted by various funding agencies in order to ensure that we are well - informed on the different types of funding available, and to stay abreast of any proposed changes to the regulations and rules. Before proceeding with any proposed development, we determine the types of funding for which the development will be eligible, and we structure the design and financing accordingly, in order to ensure we will be competitive across all the selected funding applications. Ourfi nancial optimization may entail modifying the number of units, the construction type, funding request amounts, target demographic, pairing financing to improve leveraging , or assembling scattered sites to ensure that our developments are competitive, below are a few case examples. Washingto n Square: One example of an innovative approach to secure financing from FHFC is our Washington Square development located in the City of Miami. The project included the rehabilitation of Green Turnkey Plaza, a 21-unit public housing site, and a new 67-unit high rise tower across the street from the Culmer Metrorail station. The AIP team creatively structured this transaction by pairing the scattered sites (one private and one public) in order to successfully compete for 9% LIHTC. Neither site scored competitively on its own across all the scoring criteria outlined by FHFC, but when combined into a single development we were able to secure financing. The private site scored proximity points (awarded ford ista nee to important community services such as transit, grocery store, medical facility, etc.) becau$e it is adjacent to a Metrorail station, and met FHFC's goal to fund a Transit-Oriented Development. The public housing site allowed the application to earn the Public Housing Auth0rity ("PHA") points (added to the proximity score of public housing sites) and to meet FHFC's goal to fund a Public Housing Rev italization Development. In addition to these benefits, combining the rehabilitation un its with the new construction units improved the development's overall leveraging 43 Tab 2 -Respondent's Qualifications ATLANTIC _.,._PACIFIC (determined by the amount of funding requested per unit) because rehabilitation units require less funding than new construction units. None of the sites would have been competitive as stand-alone projects; however, this innovative strategy allowed for the construction of 67 new affordable housing units, in addition to improving and preserving 22 public housing units. On October 1, 2013, the construction financing closed on Washington Square, it is currently 100% occupied Northwest Gardens V: This strategy of combining new construction with rehabilitation was a lso utilized for the successful SAIL application submitted to FHFC for our project at Northwest Gardens V. Because this RFA at the time did not include a maximum distance between the scattered sites, AIP was ab le to in clude the 100-unit Sunnyreach public housing site resu lting in a better leveraged application. None of the sites would have been competitive as stand-a lone projects; however, this innovative strategy allowed us to substantially rehabilitate 100 units of elderly public housing units -and build 100 new elderly apartment homes in Fort Lauderdale for the Housing Authority. St. Andrew Tower II : In 2015, Al P joint ventured with Catholic Health Services, Inc. ("CHS") and was successful in procuring a competitive 9% LIHTC allocation for St. Andrew Tower II ; this development was one half of a 438-unit build ing built by CHS in 1974, and origina lly financed under Section 236, with a HAP Contract covering 326 units. The intent was to preserve and rehabilitate the entire property using tax credits and other debt financing . However, the maximum total units a l lowed under FHFC's Preservation RFA prohibited the refinanci ng of the entire property as a single transaction. Therefore, we worked with the surveyor and title company to divide the building in order to undertake the rehabilitation in two phases, as two separate financing transactions with distinct owner entities. One phase won a 9% LIHTC allocation in 2015 and the secohd phase won a 9% LIHTC allocation in 2018. Saratoga Crossings I and II: The Dania Beach HousingAuthority("DBHA") selected Al P Communities via a competitive RFO to raze 39 obsolete public housing units on 2 scattered sites and revitalize the local community i n the Dania Beach CRA. AjP was able to secure 9% LlHTC for the redevelopment by splitting the scattered sites into two separate phases and submitting Phase I in the FHFC's Large County RFA and Phase II in the Local Revi talization RFA. The strategy was successful because we submitted the smaller phase in the Local Revita lization RFA and sized the 9% LIHTC request so that any remaining funds available after a first site was selected would be sufficient to fund Saratoga Crossings Phase II. Both projects are currently under construction and will Place In Service in 2019 . Leverage Soft Debt AIP and its principals have been able to develop properties that would otherwise never get built by tapping into a variety of soft sources for second, third, fourth, fifth and even sixth and seventh position mortgages. AIP Communities closed on the construction financing of two of the most complex housing finance structures ever seen i n Florida (according to industry experts at Wells Fargo and FHFC): Northside Transit Vil lage I and Audrey M . Edmonson Transit Village (fka Seventh Avenue Transit Village). Both master-planned t ransit-oriented developments ("TOD") have long- term ground leases with Miami-Dade County, as well as multiple funding sources from federal, state, and local agencies. While a more typical LIHTC transaction would be financed with tax credit equity and conventiona l debt, these developments had four and five additional sources of financing, each with its own regulations. These developments would not have been possible without the support we were able to garner from local planning staff, commissioners, mayors, and state and federal government agencies. For the Audrey M. Edmonson Transit Village we were able to class ify the community theater and trans it faci lity as Community Service Facilities. The costs associated with each use were deemed housing credit eligible costs under IRS Revenue Rul in g 2003 -77 and Sect ion 42 of the Internal Revenue Code. This generated additional equity proceeds to build the mixed-use development. • Below is a brief summary of AjP staff's track record to date procuring financing for affordable and mixed-income housing developments, (See Tab 2, 3.E.2 .b .2 for key staff experience list 44 Tab 2 -Respondent's Qualifications ATLANTIC �._PACIFIC for details): •Financed over 12,439 units of affordable multi-family housing using low-income housing tax credits in Texas, Florida, North and South Carolina, and Washington DC. •Procured over $1.3 billion in Low-Income Housing Tax Credits. •Closed nearly $1 billion in numerous federal, state, local and city subsidies including HUD HOME, CDBG, HHAG loans and operating subsidies, TCEP and TCAP loans, Federal Home Loan Bank AHP, Florida SHIP-SAIL loans and hurricane/disaster recovery loans, tax incremental financing and Brownfield incentives. HUD Experience Our institutional knowledge and ability to understand and interpret complex regulations differentiates us as a developer when it comes to navigating HUD-supported housing and challenging neighborhood revitalizations, such as a public housing conversion using Rental Assistance Demonstration ("RAD") program. As a result, our experience has grown through years of fruitful partnerships with public housing authorities, non-profits, faith-based institutions and private partners. The AjP team brings over 20 years of experience directing development activities for new construction, redevelopment and preservation of HUD-supported housing. This experience includes 23 tax credit, mixed-finance communities in partnership with public housing authorities. Our partners experience ease navigating through these complex, regulatory heavy transactions, which has resulted in continued and repeat partnerships. Because of these lasting partnerships, we have had the tremendous opportunity to not just redevelop a community but to revitalize entire neighborhoods. Since 2006, AIP staff and the Housing Authority of the City of Fort Lauderdale ("HACFL'') have redeveloped 777 of the 884 public housing units it operates in Fort Lauderdale into 1,476 tax-credit financed units transforming more than 70 acres. In order to preserve the operating subsidy, we obtained demolition and disposition approval from HUD and converted ACC units to PBRA/PBV units, or strategically paired the ACC units with the LIHTC units. Suncrest Court, our team's 13th partnership and 12th public housing redevelopment with the HACFL, is a clear example of one of these successful partnerships. On this latest phase of HACFL's public housing portfolio conversion, Suncrest Court, we are converting 68 of the remaining 107 public housing units operated by the HACFL to RAD. We are pairing this RAD conversion with 4% tax credit equity, FHFC-issued tax-exempt bonds, a State Apartment Initiative Loan ("SAIL"), SAIL ELI loan, and HUD rehab assistance payments to demolish the 1964 property and build a 116-unit community across 8.517 acres in seven new buildings. AIP was procured by HACFL after the Commitment to enter into a Housing Assistance Payment ("CHAP") was awarded, and since then has helped the HACFL navigate through the RAD process. This experience included "right-sizing" the public housing households by submitting an Upfront Civil Rights review request to resize and reconfigure the proposed RAD conversion. This process took approximately 60 days to complete and receive HUD approval. We also worked with HACFL, the lender, and tax credit investor to complete the Financing Plan which was approved by HUD with the RAD Conversion Commitmen t ("RCC") issued on March 15, 2019. In addition, we have begun relocation of the 68 current households and submitted a HUD early demolition approval in an effort to begin demolition once the housing is vacated, currently anticipated to be June 30th. In July we will be submitting the formal Closing Package to HUD which includes a final set of numbers, substantially finalized loan and equity documents, and any required amendments to the RCC and CHAP. After all HUD approvals are obtained in July we anticipate closing and starting construction 45 Tab 2 -Respondent's Qualifications ATLANTIC ...,._PACIFIC with the first households moving back to Suncrest in November 2020. Another example of AIP's RAD experience is our work with the Housing Authority of the City of Austin ("HACA") on 1 Pathways at Goodrich Place. In 2017, AIP Communities was selected by HACA via a competitive RFP to implement the RAD conversion of Pathways At Goodrich Place. The project, owned by HACA, is a redevelopment of an existi ng 1973 public housing site southwest of downtown Austi n, in the Zilker neighborhood, one of Austin's highest opportunity areas. In 2017, AJP won 9% LIHTC for Pa t hways At Goodrich Place; it was the housing authority's first time winning competitive tax credits in its 80-year history. By pairing RAD HUD Secretary Ben Carson at the 2018 groundbreak-with a successful award of 9% LIHTC, we were able to triple ing for Pathways at Go odrich Place, which marked the number of affordable units in this neighborhood. the 100,000'" public housin g unit converted through the RAD program . This mixed-income, mixed-financed , 120-unit family development will be contained in a new 3-story residential building wrapped around a parking facility with 1, 2, 3 and 4 -bedroom units at 40%, 50%, 60% AMI, including 40 RAD units and 10 market-rate units. Once construction is complete, all the public housing residents will have the right to return and will be given the first choice of the new units to relocate back to and call home. Similar to Suncrest, AJP was procured by HACA after the CHAP was awarded and has helped the HACA navigate through the RAD process and HUD deadlines outlined in the CHAP. This experience includes working with HACA, the lender, and tax credit investor to complete the Financing Plan, obtain i ng the RAD Conversion Comm itment, and even obtaining HUD early demolition approval last fall to complete demolition prior to closing on the financing for the transact ion. The team received final HUD approvals to close and start construction in October of 2018, and we expect the first residents to move back to the new Goodrich in November of 2019. While our knowledge of HUD allowed fo r the successful redevelopment of Suncrest Court and Pathways at Goodrich, our experience does not end there . In a joint venture with Catholic Health Services, Inc. ("CHS"),AJP has been successful in procuring 9% LIHTCforfourCHS low-income senior developments preserving 811 units originally financed under HUD Section 202 or 236 . With our Housing Authority and non-profit partners, we regularly work through other HUD processes and programs. Al P Communitie.s has interfaced with the U.S. Department of Housing and Urban Development("HUD") in many capacrties, such as working with HOME, HO DAG , NSP program funds; environmental clearance; and complying with Davis-Bacon , Section 3, UFAs, HOS requirements. A table of our recent relevant experience working with HUD can be found below: Development Name Agency Type HUD Scope of Work Suncrest Court Housing Authority Public Housing RAD conversion-Financing Plan and Fort Lauderdale, FL of the City of Fort Redevelopment RCC; Upfront Civil Rights review request Lauderdale to "right-size" public housing household Pathways at Goodrich Place, Housing Authority of Public Housing HUD early Demo approval; RAD conver- Austin, TX the City of Austin Redevelopment sion-Financing Plan and RCC HUD approvals of Demolition/Disposi- Saratoga Crossings I, Dania Dania Beach Housing Public Housing tion; Subsidy Layering Review; PBV HAP Beach,FL Authority Redevelopment Contract; award of Tenant Protection Vouchers 46 Tab 2 -Respondent's Qualifications ATLANTIC ~4.PACIFIC Development Name Agency Type HUD Scope of Work Saratoga Crossings II, Dania Dania Beach Housing Public Housing HUD approvals of Demolition/Disposi- Beach,FL Authority Redevelopment tion; Subsidy Layering Review; and PBV HAP Contract HUD approvals to assign existing HAP Marian Towers, Sunny Isles Catholic Health Preservation Contract to the Partnership; and enter Beach,FL Services into a 20-year renewal ofthe HAP con- tract with adjusted rents BBB HUD transfer budget authority to fund 1 additional HAP unit. HUD St. Elizabeth Gardens, Porn-Catholic Health Preservation approvals to prepay Section 202 Loan; pano Beach, FL Services assign existing HAP Contract to Partner- ship; and enter into a 20-year renewal of the HAP contract with adjusted rents HUD approvals to bifurcate the HAP St. Andrew Tower I, Coral Catholic Health Contract into Contract B for Tower I; as- Springs, FL Services Preservation sign Contract B to the Partnership; and enter into a 20-year renewal of the HAP contract with adjusted rents. HUD approvals to bifurcate the HAP St . Andrew Tower II, Coral Catholic Health Contract into Contract A for Tower II; as- Springs, FL Services Preservation sign Contract A to the Partnership; and enter into a 20-year renewal of the HAP contract with adjusted rents Green Turnkey Plaza Miami-Dade County Public Housing HUD approvals of Disposition (Ground Washington Square, Miami, PHCD Preservation Lease); Mixed Finance; additional Site FL New Construction Acquisition; and Evidentiary Documents Sailboat Bend Apartments, Housing Authority Public Housing Consult on HUD approvals of Disposi- Fort Lauderdale, FL of the City of Fort Preservation tion; Subsidy Layering Review; and PBV Lauderdale HAP Contract Northwest Gardens V, Fort Housing Authority Public Housing Consult on HUD approvals of Disposi- Lauderdale, FL of the City of Fort Preservation tion; Subsidy Layering Review; and PBV Lauderdale New Construction HAP Contract Negotiate Excellent Debt and Equity Terms Our team negotiates some of the bestterrns in the market for debt and equity. We seek to maximize the value of tax credits by pairing our developments with investors that provide strong pricing and terms and show a willingness to work within a risk -sharing framework that meets the needs of our collective team . It should be noted that since November 2016; the bottom has dropped out of the LIHTC equity market as investors reevaluate their yields using corporate tax rates of 20%, in lieu of the historical 35%. This has drastically affected tax credit pricing, moving our term sheets from the $1.14-15 range to $0.84-86 and then to $0. 95 in the span of days. While some investors have agreed to provide te rms sheets at the former high -water mark, they can only do so with the caveat that the terms are "subject to market co nditions," or "su bject to tax reform," which essentially renders them meaningless at this point in time. T his dislocation in the national equity market will increase the burden on local governments to help fill this gap with soft debt (HOME, FHLB AHP} or operating subsidy (e.g. Project Based Vouchers) in order to keep affordable housing development moving forward in the interim.Post tax reform, while other developers typ ically secure pricing of 47 Tab 2 -Respondent's Qualifications ATLANTIC _..,.._PACIFIC -, ...... ~.,,,,~- approximately $0. 92 per credit, we have been able to achieve housing credit prices at or above $1 .00 for the most recent developments in Florida and Texas. Our ability to lock in financing at favorable terms ensures a development's financial feasibility during construction and beyond. When finalizing limited partnership agreements, we also ensure that capital contributions are not subject to "inside dates," and to the extent that the investor is also the l ender, we work to ensure that milestone dates conform across agreements. Additionally, because we're able to build on-time and on-budget, our credit adjusters are minima l (credit adjusters are incurred only after leas e-up due to delayed delivery of occupied units). Finally, we work to ensure that guarantees w ithin the limited partnership agreement are kept to reasonable timeframes and amounts. The unique challenges faced by the AIP team over many years have helped us build a repository of institutio nal knowledge that enab les our partners to achieve their goals. The team's affordable and mixed~income housing experience directly contributes to the overall technica l capabil ity to provide a variety of services to the Housing Authority of the City of Miami Beach . Create New Revenue Streams Wherever possible, AIP Communities structures developments that provide housing authorities with revenue streams to help them transition out of HUD dependency and towards se lf -sufficiency. In Fort Lauderdale, our ability to optimize financing for multiple deals yielded several million dollars of land lease payments to the Housing Authority of the City of Fort La uderdale, which allowed them to extend their mission by reinvesting these dollars in their target neighborhoods. For the HACMB, our method of identifying and obtaining maximum financial funding would begin with a face -to-face collaborative meeting with the housing authority to determine the most important financial and risk management terms, specia l needs, deadlines, specific development requirements, income set-asides, and other detai l ed information. Answers to these items guide the financing process and will evolve as needs and markets change while we work collaboratively with the HACMB. 48 Tab 2 -Respondent's Qualifications ATLANTIC ...1.._PACIFIC -C•"'M f,l ll f lllt- Green Building Experience (3.E.2.b.s. l AIP believes buildings shou ld enhance our communities -not deplete them. This ideal chal lenges us everyday to conserve resources, reduce waste, and lessen our environmental impact. A jPCommunities staff has built a track record of pioneering a variety of successful sustainable development practices, even in challen ged economic climates. The AIP Communities team was one of the first in the nation to apply the LEED stan dard to affordable housing developments, having created the first LEED Silver multifamily development in the southeastern United States, Tallman Pines, with the Broward County Housing Authority. Listed below are Green certified developments completed or will be completed by AJP staff. AIP Green Developments Certification Audrey M. Edmonson Transit Village I Audre_y M. Edmonson Transit VillaS!::..11 Brownsville Transit Village I Brownsville Transit Village II Brownsville Transit Village Ill Brownsville Transit Village IV East Vill~ge Norths~de Transit Village I Northside Transit Village II --------- Northside Transit Village IV The Beacon Dr. Kennedy Homes -------- Northwest Gardens Phase I Northwest Gardens Phase II Northwest Gardens Phase Ill Northwest Gardens Phase IV Northwest Gardens Phase V Pa!hway~-~~-Goodrich Pl~ce R~sidences at Dr. Kin~ B()u!evard Sail ~oa ~~end Apartments II Saratoga Crossings I _Saratoga Cross_ings _~I Suncrest Court Tallman Pines The Studio at ThinkEast LEED Silver ICC 700 NGBS Silver LEED Silver LEED Silver LEED Silver LEED Silver LEED Gold LEED Silver LEED Silver LEED Silver LEED Silver LEED Gold LEED Gold LEED Gold LEED Silver/Gold LEED Gold LEED Gold -S.M.A.R.T. Ho ~sing ICC 700 NGBS ICC 700 NGBS ICC 700 NGBS ICC 700 NGBS ICC 700 NGBS LEED Silver -S.rv1 _._A.R.T. Ho~sin_~ _ -5.M.A.R .T. Housing is the City of Austin's Green Building Standards 49 ATLANTIC _..,._PACIFIC -,o • .. lil •l l i •t.- In addition to employing the latest building technologies, AJP Communities is integrating more low- tech initiatives, such as urban farms, community gardens and edible landscaping, to inspire more holistic communities with a wide spectrum of social, health and environmental benefits. Below are a couple of examples of AJP's experience with Green Building practices. Northside Transit Village I achieved LEED Silver rating and is a US Green Building Council South Florida 2015 Gala Verde Award winner. The conservation of energy is facilitated through various design considerati ons such as canti levered eyebrows for sun protection, covered balconies, insulated windows, walls and ceilings, energy efficient appliances, energy efficient air conditioning systems, and ceiling fans in common areas and bedrooms. Green features include: low emission paints, adhes ives, and carpets, water conserving plumbing fixtures, recycled products, materials from local suppliers, Energy Star rated appliances, highly-rated insulated windows and LED lighting. LEED Certified projects use less energy, wh ich has the added benefit of lower utility bills for residents and are healthier bu i ldings in which to live and work. Phase IV, currently under construction, and Phase II, currently in underwriting, will also both be LEED Silver certified._ Northwest Gardens -In an effortto become the City's "green neighborhood ", a number of sustainable p i lot projects and green design principles were implemented. Al l new developments achieved a LEED Silver standard or higher, and the neighborhood itself was one of the first pilot projects of the US Green Building Council 's LEED Neighborhood Development standard. Other examples of sustainable practices beyond the LEED standards include: bio swa l es in lieu of tradit ional retention ditches, permeable pavi ng, and turning vacant or undevelopable parcels into pocket parks. A key unifying concept of edible landscapi ng, the main justification for the "gardens" name, was incorporated across the neighborhood. Where feasible, fruit trees were included in the landscaping plans, and accessible raised gardens were built at each new development. Local expert gardeners helped residents learn which fruits and vegetables could be grown {collard greens are the local favorite!) and taught them techniques for planting, tending, and irrigation as well as sustainable ways to control pests and we_eds. The developments adjacent to the hub were designed with open space bordering the hub, allowing for future farmers' markets . The Step-Up Apprenticeship Program at Northwest Gardens offered instruction in emerging technologies that allow the apprentices to apply competitively for positions in the green building industry. A total of 500 out of the 4 ,000 hours of the Step-Up program are dedicated specifically to energy efficiency and green building. Several apprentices take their LEED Green Associate exams and a few are chosen to attend Greenbuild each year. These efforts have provided Northwest Gardens with numerous awards and accolades - • Northwest Gardens was a finalist for a 2016 Vision Award-Project of the Year from the Urban Land Institute (Southeast Florida/Caribbean) • The First LEED for Neighborhood Development (ND) Certified Community in Florida (the 5th in the Nation) • Environmental Protection Agency's 2012 National Award for Smart Growth Achievement • Multifamily Executive magazine Excellence Award -(Green Category) -2012 • Affordable Housing Tax Credit Coalition's Charles L. Edson Tax Credit Excellence Award (Green Category) -2012 • Smart Growth Designation (South Florida Smart Growth Partnership) -2012 • 1st Gold-Certified LEED for Homes (Multi-Family) Community in Florida • City of Fort Lauderdale Project of the Year -2012 • City of Fort Lauderdale Community Appearance Award -2012 50 ATLANTIC A!6.PACIFIC • Multi Housing News magazine Excellence Award (Silver Winner, Best Renovation) -2012 • Most Outstanding LEED Multi-Family Project (South Florida U.S. Green Building Council) "The sense of place and of own ership that did not exist at Northwest Ga rdens is now co ming about because of ou r LEED efforts, be cause of the farm, the new homes and th e network of partnersh ips we have built. It sets the tone for memb ers of the community to look at this as a fresh start and a bright future." -Scott Strawbridge, Director of Development and Facilities at the HACFL Brownsville Transit Village ("BTV") is one of the largest tra·nsit-oriented deve lopments of its kind nationwide and the first LEED certified TOD in Miami-Dade County. While LEED -certification has become standard, the design team and the development team attempted to create a new leve l of efficiency and sustainability for BTV. During the design precess, the design team employed a comprehensive energy modeling tool to create a building enve lope essentially void of common mechanical deficiencies-resulting in lower energy costs for the residents. Highly reflective roof surfaces, energy efficient lighting fixtures, Energy Star rated appliances, low-flow/high-efficiency plumbing fixtures, Xeriscape landscaping and a Smart Control irrigation system were also installed. The garage too is sustainably oriented, and contributes to the overa ll environmental efficiency of the project. The developer also installed two electric car charging stations that are open to the general public and free of charge. These combined efforts resulted in recognition by the E.P.A. in th e way of a visit by agency head Administrator Lisa Jackson. This development was an Affordable Housing Finance magazine 2012 Reader's Choice final ist and also an Urban Land lnstitute's 2012 Project of the Year-Vision Award final. Capacity (3.E.2.b.9.) The Respondent and all Key Personnel and team members are available to start immediately. The Respondent and all Key Personnel and team members (or their proposed staff) do not have any existing time commitments which would impair the Respondent's ability to proceed expeditiously. Financial Statements (3 .E.2.b.10.) Atlantic!Pacific principals can meet significant net worth and liquidity requirements due to their very strong financial standing. They are well positioned to guarantee the financial obligations associated with the development of the Housing Authority of the City of Miami Beach sites and have the capacity to provide all standard debt and equity guarantees. AIP and its principals have the financial capacity and resources to undertake large scale development efforts. For example; in 2018 AIP completed Atlantic Cypress Creek, a 420 -unit development in Broward County, and Atlantic Delray Beach , a 346-unit development, in Palm Beach County. Totaling 766 units, both are mar- ket-rate rental communities, developed by AIP Companies, built by our in-house general contractor, and guaranteed by AIP's principals. AIP currently has 1,220 mixed-income units under construction in South Flor- ida, Texas and California. In contrast to many other developers during the 2007 real estate downturn, AIP paid all its debts and was enlisted by its financing partners to become a receiver on dozens of high-profile distressed assets throughout the Southeast. As a result, it enjoys an impecca ble reputation in the financing community. Because of the strength of AIP's guaranto rs and our relationship wit h national lending institutions, AIP is able to achieve top of the market pricing , wh ich allows us to further le verage the resources of our partners and local agencies. We have provided the 2018 and 2017 audited financial statements and confirmation that the financial condi- tion of the company is materially the same for AtlanticlPacific Communities. Please consider this information as private and confidential. 51 Tab 2 -Respondent's Qualifications ATLANTIC _.,._PACIFIC -t ■N lllo Vlll ll ll1 - Insurance Documentation (3.E.2.b.11 .) The matters of insurance, surety bonds, and risk managementaretaken seriously by the development team and its related entities. A/P Communities has diligently fostered a professional network of vendors and professional service firms in these fields to ensure that we have the highest level access to markets and the ability to quickly secure necessary terms when a project requires it. As such, AIP maintains a comprehensive portfolio of insurance programs to address our developments and operational exposure(s). AjP has fostered deep relationships with carriers, specialty insurance brokers, and claims management firms nationally to enable us to deliver sophisticated insurance programs for our portfolio properties, while maintaining affordable pricing on a per-unit basis. A/P's ability to secure "A" rated insurance across all lines of coverage -as well as a large surety capacity allowing us to compete on even the largest projects. AIP Communities will have or ensure the minimum insurance coverages are in place by third party professionals as applicable, prior to execution of a contract. For your reference we have provided certificates of insurance evidencing coverage for AIP Communities, AIP Community Builders, and A/P Community Management. 52 ~ ATLAPAC-03 ACORD' CERTIFICATE OF LIABILITY INSURANCE ~ I ATLANTIC ~ .. PACIFIC 1-U 4MES DATE (MMIDD/YYYYJ 513 /2019 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATI ON ONLY AND CO NFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVE LY AMEN D, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICI ES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIF ICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSUR ED, the policy(ies) must have ADDITIONAL INSURED provis i ons or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy , certain p o licies may require a n endorsement. A statement on this certificate does not confer right s to t he certificate holder in l ieu of such e n dorsementfsl. PRODUCER ij!?m;~cr Tanner, Ballew and Maloof, Inc. ri:18,NJo , E•ll: (4 0 4) 252-8860 I r..e~. No>:(40 4 ) 252-8834 5871 Glenridge Dr ~~~~!.~~-Suite 400 Atlanta, GA 30328 INSURERIS l AFFOROING COVERAGE NAIC# INSURER A , Hiscox Ins urance Comoanv In c . 1 0200 INSURED INSURER B ,As o en S oeci altv Insu rance Com o anv 10717 Atlanti c Pacific Communities, LLC and Atlantic Pacific INSURER C : Community Management, LLC 11\!SURERD : 8609 South Dixie Highway Pinecrest, FL 33156 INSURER c : INSURERF : COVERAGES CERTIFICATE NUMBER· REVISION NUMBER· THIS IS TO CERTIFY THAT TH E POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED . NOTWITHSTANDING ANY REQUIREMENT , TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFIC ATE MAY BE ISSU ED OR MAY PERTAIN , THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES . LIM ITS SHOWN MAY HAVE BEEN REDUCE D BY PAID CLAIMS . IN~ TYPE OF INSURANCE ,~.'?.?.!-,~Hl)lf! POLICY NUMBER ,.';g}ilg1v~, 1,:2\:l<:.1~J1 LIMITS A X COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE s 1,000 ,000 -O CLAIMS-MADE 0 OCCUR f?~~~~J9.~~~E.ncel 100,000 4068289 311/2019 3/1/2020 s -5,000 MEO EXP !Ans one oer.sonl s t-- 1,000,000 PERSONAL t ADV INJURY s t--2,000,000 Rr-rt. AGGREGATE LIMIT APPLIES PER : GENERAL AGGREGATE $ POL I CY □ rr& 0 LOC PRODUCTS . OOM?fOP AGG $ 2 ,000,0 00 OTHER· s A AUTOMOBILE LIABILITY ~~~~~.!J INGLE LI MI T s 1,000,0 00 - ANY AUTO 4068289 3/1/2019 3/1/2020 BODILY INJURY /Pe r oersool s -OWNED -SCHEDULED -AUTOS ONLY t--AUTOS BODILY IN JURY !Per actidentl S X ~!fT1?s ONLY X ~Bro~~~ r~?~i;.-rlAMAGE s -t-- s B UMBRELLA LIAB ~ OCCUR EACH OCCURRENCE s 5,000,000 -CXOOAQD1 9 311/2019 311/2020 5,000,000 X EXCESS LIAB CLAIMS-MADE AGGREGAiE s DED I I RETENTION$ s WORKERS COMPEN SATION I ~i~LlTE I I ~ir-1 -ANO EMPLOYERS' LIA BI LITY YIN AfN PROPRIHOR/PARTNEFVEXECUTIVE □ NIA E.L. EAC H ACCIDENT s ~:~~~f.;'~~~~m EXCLUDED ? E-L DISEASE · EA EMP LOY!'l' S ~l~~ftiiriJ~ o'/oPERATIONS below E..L. DISEASE -POLICY LIMI T s DESCRIPTION OF OPERATIONS I LOCATIONS I VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space Is required) Se e page 2 of the Certificate for addtional Excess Liability Information. C E RTIFICATE HOLDER CAN C E LLATI O N SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE FOR INFORMATION ONLY THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS . FOR INF OR MA TION ONLY AUTHORIZED REPRESENTATIVE I 9~~ ACORD 25 (2016/03) © 1988-2015 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD 53 AGENCY CUSTOMER ID: ATLAPAC-03 ATLANTIC ..if.._PACIFI C _ ............ ,.,._ HJAMES ------------------~ ACORD ~ AGENCY LO C #: 1 ------- ADDITIONAL REMARKS SCHEDULE Page 1 of NAMED INSURED Tanner, Ballew and Maloof, Inc. Atlantic Pacific Communities, LLC and Atlantic Pacific Community Ma na~em ent LL C POLICY NUMBER SEE'PAGE 1 CARRIER I NAIC CODE $EE PAGE 1 SEEP 1 ADDITIONAL REM ARKS THIS ADDITIONAL REMARKS FORM IS A SCHEDULE TO ACORD FORM, FORM NUMBER: ACORD 25 FORM TITLE : Cert ificate of Liability Insurance Additional Excess Liability policy Fireman's Fund Insurance Company Policy #5303-10-02R Effective Date: 03/01/2019 Expiration Date: 03/01/2020 Limits of Insurance: $15,000,000 Each Occurrence $15,000,000 Aggregate 8609 ou th Dix ie Highway Pine cre st, FL 33 156 EFFECTIVE DATE : SEE PAGE 1 Total Excess Liability Limit of insurance is $25,000,00 Each Occurrence/$25,000,000 Aggregate ACORD 101 (2008/01) © 2008 ACORD CORPORATION . All rights reserved . The ACORD name and logo are registered marks of ACORD 54 ~ ATLAPAC-04 ATLANTIC ~ .. PACIFIC H JAMES ACORD CERTIFICATE OF LIABILITY INSURANCE I DATE (MM/00/YYYY) ------5/3/2019 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEN D, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUI NG INS URER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the pol i cy(ies) must have ADDITIONAL INSURED provi si ons or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain polic ies may requ i re an endorsement. A statement on this certificate d o es not confer rights to the certificate h older in l ieu of such endorsement(s ). PRODUCER £~fil~CT Tanner, Ballew and Maloof, Inc. rA'18,NJo e.,~ (4 04 ) 252-8860 I r..e~. No):(40 4) 252-8834 5871 Glenridge Dr Suite 400 ~;W,AJ6 ••. Atlanta, GA 30328 INSURERIS I AF<OROING COVERAGE NA IC# INSURERA : Mt. Haw'lev I nsu rance C o moanv 379 74 INSURED INsuRER e : B erksh ire Hathawav Homestead Insurance Co. Atlantic Pacific Community Builders, LLC INSURERC , 2950 SW 27th Ave, Ste 200 INSURER 0 : Miami, FL 33133 fNSURER E : INSURER F : COVERAGES CERT IF I CATE NUMBE R· REVIS ION NUMBER · THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LI STED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED . NOTWITHSTANDING ANY REQUIREMENT , TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORD ED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIO NS AND CONDITIONS OF SUCH POLICIES . LIM ITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAI MS . IN SR L TR TYPE OF INSURANCE ADDL ,,.,." itLm(l POLICY NUMBER 111~8M%~~L 1 ,t2~h%r#J, LIMITS A X COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE s 1,000,000 ~ :J CLAIMS-MADE 0 OCCUR g~~~'1,J9.,~E1m,p,,0 ,..1 50 ,000 MGL0191104 41112019 41112020 ~ X Ded uctible $5,000 MEO EXP 1/\nv ooo nanonl s 5 ,000 ,---- 1,000 ,000 PERSONAL & ADV INJURY s -2,000,000 GEN'l AGGREGATE LIMIT APPLIES PER: GENE RAL AGGREGATE s =l POLICY 0 fM □ LOC PRODUCTS · COMP/OP AGG s 2,000 ,000 OTHER : s 8 AUTOMOBILE LIABILITY fi:~"!~~~~If INGLE LIMIT s 1,000 ,000 ANY AUTO ATAU0 59 236 41112019 41112020 BOOIL Y INJlJRV IPor oe,50nl s -OWNED X SCHEDULED -AUTOS ONLY _ AUTOS BODILY INJURY IPor accidcnll S X ~L~soNLY X ~8ttiii1~ rp~?~~~t?AMAGE s -- s A UMBRELLA LIAB ~OCCUR EACH OCCURR ENCE s 10,000 ,000 ,---- M XL 042 92 75 4/112019 411/2020 10 ,000 ,000 X EXCESS LIAB CLAIMS-MADE AGGREGATE s OED I X I RETENTION s 0 s WORKERS COMPENSATION I ~RTllTO I I g~H-AND EMPLOYERS ' LIAB ILITY Y/N ANY PR~RIEJORIPJRTNERIEXECUTIVE □ ~:~~~t o ~i~~~~ " ClUDEO? NIA E. L EACH ACC IDEITT s E.L. DISEASE • EA EMPLOYEE S ltyos. describe under DESCRIPTION OF OPERAT IO NS below E.l DISEASE· POLICY LJMIT s DESCRIPTION OF OPERATIONS I LOCATIONS J VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) CERTI FICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE ""*INFORMATION ONLY* .. THE EXPIRATION DATE THEREOF , NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS . INFORMATION ONLY AUTHORIZED REPRESENTATIVE I 9--:, ee- ACORD 25 (2016/03) © 1988-2015 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD 55 ATLANTIC ...,._PACIFIC ACORD® CERTIFICATE OF LIABILITY INSURANCE I DAU: (IAM/00/YYYYI \,__./' 07/04119 THIS CERTIFICATE IS ISSUED AS. A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT : If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provis i ons or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on th i s certificate does not confer riqhts to the certificate holder I n lieu of such endorsement(sl. PRODUCER CONTACT Aon Risk Services, Inc of Florida Aon Risk Services, Inc of Florida NAME : 1001 Brickell Bay Drive, Suile #1100 PHONE I r,e~ Nol; 800-522-751 4 I A/C Na , Extl: 800-743-8130 Miami, FL33131-4937 E~!Af L ADDRESS : ADP .COI.Ce n1er m>Aon .cPm INSUR ER($) AFFORDING COVERAGE NAIC# INSURER A: Illinois National Insurance Co 23817 INSURED INSURER B: ADP TotalSource Ml VII, LLC 10200 Sunset Drive INSURER C: Miami, FL 33173 INSURE R D: ALTERNATE EMPLOYER Atlantic and Pacific Associalion Management Inc INSURER E : 622 Banyan Trail Suite 150 Boca Raton, FL 33431 Soc •llodl•d llsl in doscrioUan INSUR ERF : COVERAGES CERTIFICATE NUMBER : 2415524 REVISION NUMBER: THIS IS TO CERTIFY THAT THE PO LI CIES OF INS URANCE LISTED BELOW HAVE BEEN ISSUED TO THE INS URED NM1EO ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTAND ING ANY REQUIREM ENT, TERM OR CONDITION OF AN Y CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUE D OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCL USIO NS AND CONDIT!ONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. LIMITS SHOWN ARE AS REQUESTED . INSR TYPE OF INSURANCE ADDL SUBR POLI CY NUMBER POLICY EFF POLICY EXP LIMITS LTR INSR wvo !MMIOOIYYYY1 !M M/00/YYYYI COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE s -=i CLAIMS-MADE □ OCCUR DAMAGE TO RENTED PRJ:aMISES !Ea """""•neol s - MEO EXP /Any one penon) s PERSONAL & AOV INJUR'( s GEN'LAGGREGATE LIMIT APPLIES PER : GENERAL AGGREGATE $ R POLIC Y □ PROJECT D LDC PRODUCTS • COMP/OP AGG s OTHER s AUTOMOBILE LIABILITY -COMBINto Sl/'IGLI= UMlT (Ea uccidcnfl s ANY AU TO -BODILY INJURY (Per oo,.onl s ,..._ OWNED SCHEDULED AUTOS ONLY -AUTOS BOOIL Y INJURY {Pet accid011tl s ,--HIRED NON-OWNED PROPERTY DAMAGE -AUTOS ONLY -AUTOS ONLY {Per occ,d"'1~ s s UMBRELLA LIAB OCCUR EACH OCCURRENCE s -- EX CESS LIAB CtAIMS.MAOE AGGREGATE s DEC I I RETENTION $ WORKERS COMPENSATION A AND EMPLOYERS' LIABILITY YIN WC 080371933 FL 07/01/19 07/01/20 I PER X STATIITE I I OTH-ER ANY PROPRIETOR/PARTNER /EXECUTIVE □ f_L EACH ACCIDEN T s 2.000,000 OFFICER/MEMBER EXCLUDED? NIA (Mondotory in NH) E-L DISEASE· EA EMPLOYEE $ 2,000,000 II ~ dn01'bo under 2,000.000 DESCRIPTION OF OPERATIONS below E-L DISEASE • POLICY LIMIT s DESCRIPTION OF OPERATIONS/ LOCATIONS /VEHICLES {ACORD 101 , Additional Remarks Schedule, may be attached if more space i s required) All worksite employees workin9 (ar ATLANTIC AND PACIFIC ASSOCIATION MANAGEMENT INC, paid under ADP TOTALSOURCE, INC .'s pa yroll , are covered under the above staled policy ATLANTIC AND PACIFIC ASSOCIATION MANAGEMENT INC is an alternate employer under this policy. UST OF ADDITIONAL NAMED INSURED COVERED UNDER THE ABOVE POLICY : Allantic Pacific Communities, LLC, Atlantic Pacific Community Builders LLC CERTIFICATE HOLDER CANCELLATION Allanlic Pacific CommunHies, LLC SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE 622 Banyan Trail THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN Suite 150 ACCORDANCE WITH THE POLICY PROVISIONS. Boca Ralon , FL 33431 AUTHORIZED REPRESENTATIVE <fion dti.t,Jt ouvicet>, 411~ of <flotida. © 1988-201 S ACORD CORPORATION . All rights reserved. ACORD 25 (2016/03) The ACORD name and logo are registered marks of ACORD 56 Tab 2 -Respondent's Qualifications References (3.E.2 .b.12.) ATLANTIC _.,.._PACIFIC In addition to the Housing Authorities listed on Exhibit D, AIP Communities has worked with the following: Housing Authority Dania Beach Housing Authority Email Address acastro@daniabeachhousing.org Address 715 W Dania Beach Blvd, Dania Beach, FL 33004 Phone 954 .920.9662 Contact Name and Title Anne Castro, Executive Director Housing Authority Miami-Dade Public Housing and Community Development (PHCD) Email Address CDBrown@miamidade.gov Address 701 NW 1st Ct, Miami, FL 33136 Phone 786.469.2258 Contact Name and Title Clarence Brown, Division Director 57 Tab 2 -Respondent's Qualifications ATLANTIC ~ .. PACIFIC :ertifications (3.E.2.b.13.) CERTIFICATION REGARDING LOBBYING I, _____ H_m_'l_a_rd_D_._C_o_h_e_n __________ (insert name and title), hereby certify on behalf of __ A_t_la ___ n_t_i_c_P_a_c_ifi_1c_C_o_1n_m_u_n_i_ti_e"'"'s,_L_L_C ___ (insert name of Respondent) and its principals that: l. No Federal appropriated funds have been paid or wtll be paid, by or on behalf of the undersigned, to any person for influencing or attempting to influence an officer or employee of an agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the awarding of any Federal contract, the making of any Federal grant, the making of any Federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, amendment, or modification of any Federal contract, grant, loan, or cooperative agreement. 2 . If any funds other than Federal appropriated funds have been paid or will be paid to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress , or an employee of a Member of Congress in connection with this Federal contract, grant, loan, or cooperative agreement, the undersigned shall complete and submit Standard Form-LLL, ''Disclosure of Lobbying Activities,'' in accordance with its instructions. 3. The undersigned shall require that the language of this certification be included in the award documents for all subawards at all tiers (including subcontracts, subgrants, and contracts under grants, loans, and cooperative agreements) and that all subrecipients shall certify and disclose accordingly. This certification is a material representation of fact upon which reliance was placed when this transaction was made or entered into. Submission of this certification is a prerequisite for making or entering into this transaction imposed by section l 352, title 31, U.S . Code. Any person who fails to file the required certification shall be subject to a civil penalty of not less than $ I 0,000 and not more than $ I 00,000 for each ~ Housing Authority of the City of Miami Beach Signature of Principal of Respondent Name : Howard D. Cohen Title : Chief Executive Officer Date: 6/27/2019 Co-Developer RFQ # 1-2019 58 ATLANTIC ...11!6.PACIFIC CONFLICTS CERTIFICATION I, ___ H_o_w_ar_·d_D_._C_o_h_e_n _______ (insert name and title), hereby certify on behalf of Atlantic Pacific Communities, LLC (insert name of Respondent) and its principals and Key Personnel that: (i) No actual or apparent conflict of interest exists with regard to the HACMB, (ii) . ·o actual or apparent conflict exists with regard to Respondent's, its principals', or its Key Personnel's possible performance as Co-Developer under this Request for Qualifications, and (iii) No actual or potential claim exists ag•m~a Signature of Principal of Respondent Name: Howard D. Cohen Title: Chief Executive Officer Date: 6/27/2019 Housing Authority of the City of Miami Beach Co-Developer RFQ # 1-2019 59 ATLANTIC ....,._PACIFIC RESPONDENT APPLICATION PRIORITY CERTIFICATION I, Howard D. Cohen (insert name and title), hereby certify on behalf of Atlantic Pacific Communities. LLC (insert name of Respondent) and its principals and Key Personnel that: (i) no application for development fun ding submitted by this Respondent, other than by score or rank, will have priority over any applicatio n for funding for the proposed project that is described in this RFQ or that the Respondent and the HACMB have entered into a partnership to develop, and (ii) the R espondenc will make every effort to give this project priority over any other projects it will be submittin g funding applications for, and (iii) the Respondent will make every effort not to submit competing applications within the same geographic, demo graphic or special set-aside categories within a funding cycle, without notification to t he HACMB and written approval by the HACMB, and (iv) the Respondent will provide notice to the HACMB of any and all contemplated competing funding applications th at the Respondent intends to submit before actually doing so. ~& Signature of Principal of Respondent Name: Howard D. Cohen Title: Chief Executive Officer Date: 6/27/2019 Housing Authority of the City of Miami Beach Co-Developer RFQ # J-2019 60 ATLANTIC ~._PACIFIC Instructions to Offerors Non-Construction U.S. O.partment of Housing and Urti•n Development on1ce of P~bllo and Indian Hous ing 11111111 -03291 - 1. Praparatlon of Otfar• (a) Otrerors are expected to examln• the statement ol work, !he proposed contra.ct terms end conditions, and aH instrudions. Failure to do so will be al the otterOl's risk. {b) Each otleror shall lumlsh th• lnlormatlon required by 1he sollcila• tton. Tha otreror shall sign the otter and ptlnl or type Its name on the coWtr sheet and each continuation shfft on v.nlch It makes an entry. Erasures or other ohangee must be in~illled by the per90n signing 1he otter . Otters signed by an agentshall be accompanied by evidence ol lhat agent's authority, unless that evld&nce has been prevfousty fumished to Iha HA. (c) Offers for seNlcas o.ther lhan thou 111pecifHlcl will not be consid- ered. 2. SubrnlHlon of Offllre (a) Olfers and modillcat!ons thereof shalf be submitted in sealed envelopes or packages (1) addressed to the office ,pecllled In the sollcltatlon, and (2) showing the time specllied for receipt, the sollcita • tion number, and the name and address of the offeror. (b) Telegraphic atlers wHI not be considered unless authorlZed by the soNcttatlon; however, offers may bl modified by written or telegraphic notice. (c) Facsimile offers, modlrlcatlons or wt!hdrawals wlll not be consid- ered unless authorlZecl t:,y the solicitation. 3. Amandmenta to Solldtatlon, (a) If 1h11 solicitation Is amended, then all terms and conditions which are not modified ramain unchanged. (b) Offerers shall acknowledge receipt of any amendments to this sollc:ltation by (1) sign ing and returning the amendment : (2) Identifying !he amendment nurroor and da1e In the spece provlaed ror this purpose on 1ne Torm tor submitting an offer, (3) letter or telegram. or (<4) Jac,Jmtle, if fac3imllo attar$ are ll&Jlhorized In Iha sollcllatlon. The HA/HUD must receive the adlnowledgment by the time specified for receipt of offers. 4. Explanation to Proapecllv• Ottarors Ally prospective offarordesli!ng an explanallon or interpretation ol lhe solicilallon , statement ol work,. etc., must request it in writing soon enough lo allow a reply lo reach all prospective otferors b9'ore the submission of their offers. Oral explanations or instrucllons given before lhe award of the contract wtll not be binding . Arty lnformallon given to a prospectJve offerer ainceming a solicitation wll be lumished prOfTl'IIY to all other prospecilve ollerors u an amttmJrnent ol U1e sol!cltallon, it 1hal lnlorma!lon Is necessary In submitting offers or it the lack of tt would be prejudicial to any other prospect.I ve ofterors. S. Aaaponalblllty of Pro,paetlv• Contractor (a) The HA shall award a contract only to a responsible prospecUve contractor who rs able lo perlcrm success!ully under the lenns and conditions of the proposed oontract . To be detemilned re&pons ible, a prospective contraclor must • (1) Have adequate financial resources to per1orm the contract, or the ability to obtain them; Housing Authority of the City of Miami Beach (2) Have a satisl actory per1ormance record; (3) Have a satisfactory record of integrity and business ethics; (4) Have a satisfaclory record of compliance with pL.tllic potlcy (e.g., Equal Employment Opportunity); and (5) Not have bean suspended. debarred. or otherwise determined to be ineligible for award of contract& by th• Deportment of Housing and Urban Development or any other agency of the U.S . Government. Currem liats of ineligible contractors are available for lnspec:tlon at the HA/HUD. (b) Before an offer is considered for award, the offerer may be requested by the HA to submh a statement or othe r documentation regarolng any of the foregoing requirements . Failure by the offerer to provide such addlllonal Information mey render the offaror lnaligble for award. 6. Lala SubmlHlons, Modification,, and Withdrawal of Offer, (e) Any offer racaived at the place designated in the solicitation alter the elCacl time specified tar receipt will not be considered unle11 It is reoeJVed before await! Is made and It - (1) Was sent by registered or certHled mall not later than the fllh calendar day before Iha date specHled for receipt of offers (e.g., an otter submitted In response to a sollcllallon requiting receipt of offers by Iha 20th of the month must have been malled by the 15th); (2) Was sent by mail, or if authorized by the sollcltatlon, was sent by telegram or via tacslmlle, and ii is determined by the HAI HUD that Iha lata racalpl wu due solely to mishandling by the HA/HUD altar recelpl at the HA; (3) Was sent by U.S. Postal S11rvie11 Ellprass Mall Next Dey Service -Poi.I Office lo AcldrHi:ee, not later than 5:00 p.m. at the place of maiHng two working days p,lorto the dalespecifled for receipt of propo&a111. The term "Working days• excfUdes weekends and U.S. Federal holidays; or (4) Is the only otler received. (b} Any modification al an offer, except a modlficalion resulting from !he HA's request for 'best and llnar oller (H this sollcltallon Is a request for proposals), Is subject to the same conditions as in subparagraphs (a)(t), (2), and (3) ot this provision. (cl A modification resulting lrom the HA's request for "best and flnar otler received after the time and date specified in lhe request wlll not be considered unless received belore award and the late receipt is due solely to mishandling by the HA after receipt at the HA. (d) The only acceptab le e11k:f11nce lo establish the date al mailing al a late offer, modification, or withdrawal sent either by regi&tered or i.ertllled mall is Iha U.S. or Canadian Postal Service poi;tmark both on the envelope or wrapper and on the orig inal rece ipt from the U.S. or Canadian Postw Sorvioa. Both postmarks must show a legible date or the offer, modHlcation, or withdrawal shall be processed as II malled late. "Postmark." means a prlntecl, sta111>9d. or otherwise placed impression (exduslve of a postage meter machine Impression) that is read ily ident~lable without lur1har acl lon as having been supplied and affixed by employees of the U.S. or Canadian Postal SelVlce on Iha date of malling. Tharetore, ollerors should request the postal clark to place a hand cancellatlon bull's.-eye postmart( on both the r8C&ipt and Iha envelope or wrapper. (11) Tile only a.ccep1a01a evidence to establish tne time 01 rece1p1 atthe HA is the lime/date stamp ol HA on lhe offer wrapper or other documentary evidence of receipt maintained by lhe HA. form HUD.QtlM (8/Y3) ref. Handbook 7<161>.8 Co-Developer RFQ # 1-2019 61 (f) The only acceptable eYldence 10 establish !he date al melRng al a lare offer , modWfcatlon, or withdrawal sent by Elpress Mail NeX1 Oay Service-Post Off ice to Addressee bthe dale entered bylhe post offic41 receiving clerk on the "Express Mall Next Day Service-Post Office 10 Addressee• label and the postmark on both the envelope Oi' wrapper and on the original receipt from the U.S. Po:!llal Service. ''Postmllrlt" has the same meaning as defined n paragraph (c) of this provision, exeltJdlng postmarks of the Canadian Postal Service . Therefore, olferors should request the postal cleril to place a legible hand cancellation bUll's eye postmark on both the receipt and the envelope orwrapptr. (g) Noswtlhstandlng paragraph (a) of th is provision. a late modlficaUon ol en otherwise succassful offer that make& its terms mo(e ravorable to the HA wm be considered at any time II is received and may be accep!ed. (h) If this sollcitatlon Is a request lor proposals, proposals may be withdrawn by written notice , or If authorized by this sollcilallon, by telegram (including mallgram) or focslmlle mad'l lne lransmisslon received at any time before award . Proposals may be wllndrawn In person by a oltaror or ls.authorized representati\19 iflhe ldenllty olthe poBOn reques1lng withdrawal b o:dabli:lhod and tho pore.on cigno a receipt tor the off er before awaro. If th is sollcllallon Is an ln111!81ion for bids. bids may be wittld1awn at any 11ma prior to bid opening. 7. Contract Award (a) Tile HA wm award a conuact resunlng from thls solicitatlon to the responsble otleror whose offer conformng to the sollcllallon wHI be most at1Yantageous to the HA. cosl or price and otharlactors. specif led etuwtwr• In this sollcttaUon, considered. (b) The HA may (1} reject any or all offers JI such adl!)n Is In the HA's interest. (2) accept other than the lowest offer. (3) waive lntormalltles and minor irn,gularl!ies ln otters received, ana (4) award more than one oontract 1or an or part ol lhe requirements stated. (c) If this solk:ltatfon Is a rtquest tor proposaJs, the HA may awa,d a contract on the basis ol lnillal offers raceived. "1thout discussions. Therefore, eaoh Initial offer 11houldcontalnthe otferor's best terms from a cost or price and technical standpoint. prav1guii lldl1lon is obsolelll pege2of2 Housing Authority of the City of Miami Beach ATLANTIC ~-..PACIFIC (d) A written award or acceptance ol otter malled or otherwise lumiShad to lhe succese1ul otferor within the time tor ao::eptance speclflad in the offer shall result in a binding contract without further action by either ~y. If this solicitation is a r•qu•t for proposals belorethaotler's spaclliad expiration time, the HA may accept an offer'. whether or not there are negotiation; :after its ,.eeipt, uni.111 a written notk:e of withdrawal Is received before award. Negotiations condUded alter receipt o1 an offer do not constitute a rejection or counteroffer by the HA. (e) l\laltharflnanclaldata submittedwllh an offer, nor reprasantetlons concemlng facilities or financing, wll form a part of tha resuHlng contract. 8. S.rvlce of Protut Al1y prolesl against the award of a contract pursuantto !his sollcltallon shall be served on the HA by obtaining written and dated acknowledg- ment ol recel~ from the HA at the address shown on the cover ot lhls solicitation. The determination al the HA wtth regard to such protest or to proceed to awaro n01Wlthstandlng such p,otest shall ba final unless appealed by the protestor. 9. Offar Submllsfon Olfeni shall be submilted 115 falloW$ and shall be enclo5ed in 11. sealed envelope and adclressedto lhe oNlce specified In the sollci1ation. Tho propose! shaU show the hour and date specttled In the solicitation tor receipt, Iha eollcltatlon number, and tti. name and address of th• off•or, on the face of tM «1velope. It Is very lrrportantthal the oN8' be property ldenllfied on Iha face of 1he envelope as ser forth above In order lo lnsuro that 1he dale and time of recei~ Is starrped on the face otthe otter envelope. Receiving procedures are: dale and time stemp those envelopes lderrtlfiad as proposal:; anddel~rthem lmmedlll!elyto 1h11 opproprilllo con1ro.<:tir,g o111clal, and only dale stamp those envelopes Which do not conialn Identification al the contents and deliver them to the aµproprlate procuring activity only through the routine mail delivery procedure . (Oaccribe bid or proposal preparalion instructions here:) Jorrn ~IHI 8 181113 rllf. Handbook 7"'60.f Co-Developer RFQ # I -2019 62 ATLANTIC ~•PACIFIC Certifications and Representations ofOfferors Non-Construction Contract U.S. Department of Housi ng and Urban Development ornce of Public and lndlan Housing Publlo reporting bur<!en for this collecti on of information Is estimated 1oaverage 5 minutes perresponse. lncludln g 1he lime ror reviewing lnstruc!lons. searc hing e~lsling da1a sou rces. gathering and maintaining Iha data needed. and compla1 rng and review ing the colrecllon or Information. n,rs form Includes clauses required by OMB 's common rule on blddlng /orterlng procedures , Implemented by HUD In 24 CFR 85 .36 , and those requ irements set lor1h In Execu 11ve Order 11625 tor small, minor ity, women -owned businesses . end certifications for Independent price determlnal lon. andconflfct ol ln teresl. Tho fo,m Is required lornonconstruc tionconuacts awarded by Hou sin g Aooncios (HAs). The lorm l& used by bldders/offe rort locertlly to theHA's Conlracti ng Oflk:01 for contract compHance . 11 lhe form were not us od. HAs would be unobll! lo enfo1ce their conltacts. Responses 10 Iha collecUon ol fnfot1natlon are requ ired 10 ob tain a benefll or to retain a benefit. The Informa tio n requested does net fend l1sell to conlfdentlsllly. 1. Conlingcnt Fee Representation and Agreement U1) Th,· hiddcr/offcror r,·prcscnls and certifies as parl (,r its hid/ offrr that. c·xccpl for full-Ii me hona l'idc ,·111ph1y,·cs working so!dy for thc hiddcr/ofl'crnr. thc hiuucr/ofl'cror: ( I l I I has. IXI has 1101 employed ,1r re1ait11:J any persm1 or company lo solit·il or obtain this eonlracl: and (2l I I has . IX I hns 1101 paid or ngre-,d 10 pay 10 any perS<,n or eompany employed or rclaineu Lo snlicil m ohtain this conlract any commission. pen:enlag,·. brokerage . or other f,·c cnnlingenl upon or resulting fmm the aw:1nJ (lf this contract. (hl 1r1he answe r 1,1 either {al( I l ,ir (:1) (2) :1hovc is alTirmativ c. tlw hidder/offcrnr shnll make an immediate anu rull wrillcn disclosure lo !he PHA Contracting Offic.:r. (c) Any mim:prescnlalion hy lhe hiuckrllllTL•ror ,hall give tlw PHA lhc right lo (I) terminale lhc resuh:1111 t·onlracl: ('.!l al its discrclion. lo deducl l'rnm contract payments the :1mou11t of ml)' commission. pcn.·cnlngl'. brt)kcrngl'a or lllher 1.."t:>nlingc-nt rl~ ... ·: or (J l 1:1kc othcr rcml'dy p11rsu:1n1 1,1 lh,· colll r:1c1. 2. Small. Minority, Wunu,n-Owncd Business Con(·crn R~p- n,scntation The biJder/nl'l'cror rqJl'cs,·nls ,rnu certifies as part of its biu/ offe r lhnl ii: (a) I ·j i,. IX] is 1101 a sm:,I{ business concern . "Snrnll b11sincss eoneern:· as used in 1his prnvision. means a concern. indt1d- ing its affilial,·s . that is intkpcmkntly owned and opcra1,·d. not u,,minmll in llll' lidd ol' opcr:ilinn in whkh it is biddin~. and ,111:1l i lied as :i small business under th,, criteria and ,;ize standards in 13 C'FR 121. (hl I ] is. IX I is 1101 a woni.·n-own,·J small h11si11css ,·o m:ern . "Women-owned." as usc,1 in this pr,>1·ision. nw:ins a small business !hat is tll lcasl 51 flL'rcent owned hy :I wnnrnn ,,r wonwn who arc U.S . ci1izens :irnJ who al,o control :ind opcrntc the h11sin,·ss. (cl I ] is. IX] is not a minority .:-nlerprisc whkh . pursuaill 10 Executive Order I lo:!5 . is ddincd as a husiness which is at k:isl 51 pereenl owneu hy nnc or more mi1l(lrity grnur 111,•mhers or. in lhe c:isc ol' 11 puhlil'iy owned husiness. al h:ast 51 pcrcc·nl of ils v,lling slock is ,1wn,•d hy on,· or more minorily l!r,,up 111e1nhers. :111.J whose ma1111g cme111 and daily oper:itions aie .:onlrollcu by on,· or mor,· su.:h inuiYiJuals. For !he purpos,• or this ddini lion. minnrily grnup 1ncmbers an:: (Clll'ck 1h,· bl,1ck :1pplicablc lo you) Black Americans Hispanic Amcric:ins Narivo.: AnKricans Asi:1n Paci lie Americans Asian Indian Americans Hasidic Jc,wish Americans J. Certi!irnlt, of lmh!p~ndenl Price Ddcrmination (a) The• hickkr/olTnor c,·rtifks thnl- ( I l The prkes in !his hid/nf'i'L-r have b,·,·n arri ved at indcprn- ,.kntly. wi1lwu1. for lhl' p11rp,1s..: of restricting cnmpdi- lion . any ennsullation. commu11ic,11i,1n. or agr,·,·mcnt with :1ny othe r hiddcr/offernr or compelilur rd:,t ing lo (i) those prices, (ii) lhc inlenti,m lo sL1h111il u bid/offer. or (iii) the methods or factors uscJ lo cakulalc lhe prices ,1ffe1\.·d : (2) The prices in this bid/off'cr have nol been anu will nol he knowingly uisdos,·d by till' hidde!'iorrc1w. din·ctly or indircdJy. to :my 01h,·r hidu,•r/offo.:n•r or l'lllllflelitn1 ho.:- l'orc hid open in!! (in the ,·asc ,11' a ,eakd bid solkil:1lionl nrco111rncl awnru (in tlw case lll'a neglllialcd solicitation) unless nlhcrwise re4uircd by lnw: and (3) NL1 at1cmp1 h:1s been madc or will ht.· mad,· hy 1he hiudcr/ nff,·1\1r In inuuce any other conc·e1·n lo s11h111i1 or nol In suhmil a bid/offer ror lhc p11rposc or restricting co111po.:t iti1111. <hl Each sig1rnlure on the hid/,1fl',·r is rnnsidcrcd lo be a n·r1ili- .::1lion by the signalnry lhal lhc siicrnalnry: (I) ls !he lK'rs,,11 in !he hi<l<krioff,·mr·s org:111iza1ion r,·spon- sihle for de!ermining the price, being offered in thi s hiu or pmpos:il. and 1h:11 the signa1ory hns 1101 par1ieipa1cu nnu will nol p,1r1ii:ipa!L' in any aclion contrnry In suhparn- g1·aph, (a)(IJ thrnugh (a)(3l ahnve : lll' (2) (i) Has been aulllllrizcJ. in writing, lo :tel as agenl l'l1r the l'ollo wing principals in ecrtil'yin!! Iha! those principnls haw nol par1ii:ip,1tcd . anJ will rllll p:1t1icipalc in any nclinn contrary to suhrurngraphs (a)Ol through (a)(3 l nhovc (inserl full name orpcrson(s) in till' biuder/ol'f'L'rnr's <1rgn11iz:1lion r,·s 1ll111,ihle l'nr Jet,•rmining the pric,·, nf- krt·d in this hid or rrnposal. and the title ol' his <1r her position in the bid,kr/olTcror·s organization): (ii) As nn authorized agent. unes ccrlify that the print·i- pals named in suhdi\'ision (h)(2l(i) nhovc hn1•c not par- ticipat,·u. ,mJ will nol pnrticipalc . in any nction conlrnry lo suhparngrnphs (ai(Jl lhrnugh (;1)(3) :,ho\'c : and Previous edition Is obsolete page 1 of2 form HUD-636~C (8193) ref. Handb oo k7460.8 Housing Authority of the City of Miami Beach Co-Developer RFQ # 1-2019 63 (iii) As :111 agc111. lws nnl pcr,mnnlly pnr1icip:11cJ. :inc.I will 1101 par1idp:11c in any m:lion corllrary In suhp:1rngrnphs (a){I) 1hrnugh (a)(J) atmv,·. (d I f 1hc hiJck:rhil'rcn1 I' Jl!lctcs DI' nrndilics suh1mr:ig r:1p h (;1 )2 nhu ,·. lhc hiddcr/ofl',·rur musl fl1rnish with i1s hili/off1:r a signed s1::i1cm,•111 sc11i 11g i'orlh in Jclail the dr,·1m1s1ancc: or lhc <lisdnsl1rc. <I. Org1111izntionnl Conflkls of Interest Ci!rtllkntirm (nl Thi: Co1111·11clor warr:ml~ th111 lo Cl,~ best or it: lrnowkJ!,!c nnJ 1-.clid' nn<l cxc.:pl 11s 01hcrwi~1: disdMcd. ii Jo.:s not hnv.-nny cmurni1.111 ionnl con l'lict or intL'L'l:S L which is cl dined n. :1 sil11al iu11 in which th.: nnlurc <11' work 11111.h:r II pmpc1scJ ,·on trncl :rn<.I ;t prosrcc1ivc con1rnch1r"s 01·guni1.nlimrnl. fi- 11nncinl. .:onI 111c1crol nr olhcr inl.:r.:sl urc such 1hnt : (i) Aw11r<l or lhc ,l1111rn.:1 nrny l'L'Sllll in an unfuii' comp,·1i- tiv~ ndvnntngl!~ (ii) The Conlrnclor·s objcclivily in rcrfonning lhc con- lr:id work nwy h,· imp:iircJ : ,1r (iii) Thul lhc Conlrnclor Im~ disdoscd ull rclcvanl infor- mnli<.>n :md l'C(jllcslc<l 1hc HA 10 mukc a Jc1er111inalion wilh rcsr~cl IL> lhis Conlmcl. ( t,) Thll C11n1 n1.:tor O!,!NCS t hnt if :11'1c r 11w:1 rd he 11r she disccwi:1·s nn t1rg1111izn1iona l cunflicl ti!' i ntcrcsl wilh n:spccl lo lhis c(ln tn1.:1, he.,,. she sh~II nmkc :111 immc<.liak nml f'ull diso:1,,- surc in wri 1ini: 1u lhc HA which shnll im:Ju<lL" n d cscrir,lion ,,r the aclim, whid1 rhc Cnn1rac11,r bu s 1:1kc11 nr in1c,11Js 10 di111i11,11c or m:ulruli1.c llw .:onllicl. The HA may, however. 1crminulc the Cc11llr11cl for the ,onvcnicnc,' of HA ii' ii wmil<l he in 1111: hes! inlcrcsl 111' HA. (c) In lhc ,:vcI11 the (\,nlrac111r was nwurc ul' nn nr1.rn11i~~1li,,nal conl'lic1 of inlcr,'sl hcforc 1hc awnr<l <11' lhi~ Conlm.:I 311J i_n tcntionully <lid 1wl l.lisd,1sc lhl.' ctinl'lic l In th,: HA. l h,· HA may 1crminatc 1111: Cunlrnct ror <lorn.ult. (Jl The Con1rncl1>r shall rc,1ui ~ a disclosun: or rcrrcsc111:uion from suhc11111rnc1ors 1111d cons111la111s who mny l>c in~ pos ilion 10 in llrn:ncc lhc adv ic e ,,r t11,si s1nnc.: 1-.:11dercd Ill the HA :1111.I sl10II induJc nny rn:ccssury flr<ll'is i,1 ns lo dlrnion11: (lr 11cu1rnlii,• Clllll'lit•ls of inlcrcSl ill CllllSllh:rnl ngrccrnc111.s nr ,a1hct1lllnll'I~ inv oh•i ng pcrfor1nnlll'L' 11r w1>rk uur..lcr this Co111nicl. 5. Authurized Nc~olinhors (RFP~ ouly) The ol'l'c1'l>I' ruprcscm~ 1h:i1 1h c !'ollowlng f'\!rsons :Ir" :1ulhtwizcJ \11 llC!!<.>linh: on ils t,d1 nlJ' wllh the PHA in i.:onncctiou wilh this rcqul!sl for prnpt>sals : (lisl 110111c s. lilies. nncl lclcphonc num ticrn \,r the nulh >rizcd 11cgt\li11lors): 6. C1111nicl of lntc1•csl ATLANTIC ~~PACIFIC In lh1: nbscncc ,if m1y m:lu11l or upparcnl cnnflkl. lhc 11f!'L,1•or. by submission nl' :1 proplls,11. hachy wa1Tan1s 1hn110 lhc hes! tif ils kn,iwlc<lgc :111J hclk•I'. 1ui m:lual or .ipp :tn.:nL c,,nni cl uf inlcrcsl cxi~1s wilh r,·i.wr<l lu my p<1ssihl~ pcr J',,rmnncc of this prnNtrt~ nh:nt . as r..lc~crih,·J in lhc dnusc in this solid1ati1u1 lill,,d "Orpa- ni1.nlionnl Conl'licl ol' lnkrcs1." 7. Ofl'eror'.~ Signatur" ThL• ol'fo1\1r f1crdiy Cl'l'lil'ks th:11 lhc i11formnlio11 conlai11cd in these ccrlifictilions and rc1,1vscntalio11s is accuralc. complclc. ;3i:od Sig11a1urc & Dat"; 6/27/2 0l9 Howard D. Cohen Typed or PrinlcJ Nmnc; Chief Executive Officer Tille: Previous edilion is obsolete page2 of2 1orm HUD-5389,C l9J93) ref. Handbook 7460.8 Housing Authority of the City of Miami Beach Co-Developer RFQ # 1-2019 64 Tab 3 - Proposed Development Methods and Strategy ATLANTIC _..,.._PACIFIC -COMMUNITIES- Development Process Our development process begins by putting together an expert team of professionals who will be re_sponsible fo: the proje�t from the initial _planning phases through occupancy. This team �i_ll workwith the Housing Authority, the community, and other stakeholders to create a shared v1s1on for the Authority's portfolio. Simultaneously, we provide feedback on the financial outcomes created by different potential development scenarios. This way, all stakeholders have access to real-time information on which to base their decisions. Once the vision is complete, we manage our team of architects, engineers, and other professionals through the entitlement and permitting processes. Concurrently, the Development Team will determine the optimal capital structure for the various developments and prepare all the documentation required in order to pursue a variety of different funding sources. Our experience in this arena allows us to optimize our financing to ensure the project maximizes the resources available to it. This allows us to add elements to our design and program that would be financially unattainable for other developers. Some examples include LEED certification, more durable finishes (e.g. solid surface countertops, marine-grade plywood cabinetry), and capitalize ongoing maintenance costs (e.g. landscaping and security contracts) which lessens the future operating burden on the property. Continuous oversight of the construction process allows us to ensure that the completed project matches the initial vision. Finally, our skilled property management team will market and lease the development and fulfill all compliance obligations. Planning Approach The Development Team has significant experience working with residents to understand, prioritize and implementtheir needs and desires as part of the development process. We work together with the Housing Authority, design and relocation partners to interface early on and frequently with residents to ensure adequate time to incorporate their feedback into the relocation strategy as well as the design, budget, and time line for the redevelopment. The proposed planning strategy can be shortened and/or modified, and we would build on the basic due diligence we have completed on the sites to determine the various issues (land use, environmental, political, evaluation of infrastructure, etc.) at stake. Upon selection, we will meet with the Housing Authority of the City of Miami Beach ("HACMB") to understand the historical and political implications of redeveloping the site(s) and identify the key stakeholders that need to be involved in the process. Once a thorough understanding of the site's existing conditions is gained, the architectural and civil engineering teams will begin the process of site planning and platting. These processes generally run concurrently to save time in the overall development process. The process typically involves: •Design team assessment of site •Meetings with local agencies and SFWMD seeking suggestions, parameters, and requirements •Development of a site and infrastructure plan with intense collaboration between the architect and civil engineer •Presentation of the plan to relevant agencies •Refinement of the plan •Submission of the plan •Development of a schedule incorporating all local inspections and agency participation •Incorporation of that schedule into the contractor's schedule •Execution with total design team collaboration on oversight and regular updates to relevantlocal agencies and SFWMD 65 ATLANTIC � .. PACIFIC We will prepare and deliver a presentation showing our overall conceptual development plan to the HACMB, the community, and the City of Miami Beach planning department and historic pres ervation board. This presentation will commence the community involvement process as needed. Our Asset Management department takes an active role to ensure that the overall product type meets the Development Team's standards, and to ensure that once it's completed, the development will be competitive in the marketplace. We envision the Housing Authority as key facilitators of this process and the Development Team will rely on the HACMB to help coordinate meetings with the community during the design process and to ensure the above outlined process fits within the goals ofthe community. We will submit a set of site plans and constructions drawings to the appropriate agencies after the local government has reviewed and approved them. The Development Team is also sensitive to the impact of the demolition and construction process on current residents. We will work closely with HACMB to include residents in all aspects of the development. Resident input will be systematically gathered regarding redevelopment plans, dem olition and construction timelines, relocation logistics, and other potential matters that may arise. If the development plan includes building new construction next to existing facilities, we would erect a construction fence to reduce the visual impact of construction, coordinate the ingress/egress re quirements of the construction site and current tenants, limit construction to reasonable daylight hours, and would communicate frequently with the residents to address their questions and con cerns. The developments described below are descriptive of Al P's methods and strategies. They demon strate our experience developing communities in urban areas that contribute meaningfully to their neighborhoods, our experience developing, constructing, and operating affordable housing; expe rience in Green Building techniques, and experience developing housing for families, the elderly, and the disabled. Audrey M. Edmonson Transit Village The master planned two-phased, Audrey M.Edmonson Transit Village ("AME"), is one of the most impactful mixed-use devel opments in the Liberty City neighborhood of the City of Miami. The development in troduces new, safe, community-centered, affordable housing in a neighborhood where it had been almost non-existent for decades and is the result of extensive com munity engagement and strategic partner ship between private, non-profit and public entities. These partners include the Fed eral Transit Administration, Miami-Dade County's Public Housing & Community De -.... -� : velopment, the Department of Cultural Af-. __ =-.,,_•_ ■-•-.,._._ ;._-____ � -� -fairs, Transportation and Public Works, the-�City of Miami, Wells Fargo Bank, and AIP Communities' non-profit partner, BAME (an affiliate of the historic Greater Bethel AME Church in Overtown). The County actively engaged community residents, elected officials and several developers to for mulate a strategic plan for this area. Some suggested adding a small, multi-unit project next to the transit hub, or, perhaps attempt to revive the area's artistic history by erecting a local theater to re place the abandoned Carver Theater. AIP brought to fruition an ambitious vision which included all three elements rather than just one or two. This resulted in a, multi-use, sustainable development that generated a neighborhood-changing development on county-owned land and is an example of complex site planning involving coordination for development of a site with residential (17 6 af fordable housing units), transit (5 bus bay transit hub), cultural (20,000 sf black box theater), and retail uses. The development features the following design elements: 66 ATLANTIC ~ .. PACIFIC ► LEED Silver and NGBS Silver Certification; ► Superior resident am enities including multiple club/community rooms as well as a rooftop edible community garden, swimming pool, and recreation deck; ► The Sand rel I Rivers Theater, a 22,000 square foot, 200-seat "black box" performing arts theater which hosts various community-focused, affordable activities ranging from staged plays to movie screenings and book readings to community classes; ► 2,400 square feet of studio and gallery space for local artists, dancers, performers and non-profits; ► Artwork by local artist C.J. Latimore, including the theater lobby mural, depicting numerous notable African-Americans from the neighborhood as well as a 1,100 square foot exterior glass mosaic mural consisting of more than 100,000 tiles; ► Infrastructure improvements such as new sidewalks, streetscapes, bus stops, signage, com- mon area lighting and landscaping; ► Ground level parking and multi-level parking garages to accommodate residents and visi- tors; ► 4,000 square feet of ground floor retail and commercial space, anchored by Chase Bank; and ► A five -bay MDT bus transit hub which provides increased acce ss to public transportation and offers an enclosed waiting area, ticketing area with attendant, and covered bus bays. Our site due diligence included: • Instituting a T-Plat in order to cut the predevelopment timeline in half and finalize the plat during construction, and post the initial financial closing. • Review of traffic conditions to ensure that the new 5 bus bay transit hub did not have nega- tive effects on the areas traffic patterns. • Coordinating with Miami-Dade's Department of Cultural Affairs and Department of Trans- portation and Public Works to ensure that the transit hub, black box theater, and housing components could co-exist in a positive manner. • Design the two housing towers such that the second tower could be constructed and inte- grated into the previously completed tower. Phase II was built to line up perfectly w ith Phase I. Certain walls were closed to meet local building code requirements in Phase I, those walls were then opened to add a connecting parking garage structure and a recreational deck between the two buildings. The parking on each level of the Phase 1 garage had been completed to accommodate a ramping off-shoot when the Phase II ga- rage was added. The types of materials used, which walls were exposed, the layout of the buildings on the site, and the formatting of the garage and recreational deck, were all taken into account early on so that the two multi-story buildings could be co nnected without damaging the structural integrity of either building, and without displacing any residents. Consequently, no apartment units were closed or damaged during this process. Ultimately, the site was successfully planned to allow enough space for a second building with additional affordable housing. Financing an affordable housing, mixed-use development, and coordinating the available lim ited resources with construction, is a challenge for any developer. For Phase I of the AME development, AIP Communities had to utilize many sources offunds and tax credits in order to finance a complex transit oriented development, and utilize creative site planning and design, and construction plans to leave room for a potential Phase II expansion, if and when, a second round of funding would be secured. AIP financed the first phase with loans from several different sources (one of which was broken up into three different tranches), as well as low-income housing tax credits. Not only was the combina- 67 ATLANTIC ~.._PACIFIC tion of funding difficult to secure, with its myriad of different requirements, it simply wasn 't enough to build the level of transit hub that this community need ed, nor to cover the cost of the theater, nor to build the amount of desperately needed housing units that t he neighborh ood deserved. To rai se additional funds, AIP offset building costs with tax credits generated under IRS Section 42 of the Code-Community Service Facility and Dedicated Improvements ruling. This ruling generat- ed necessary vital housing tax credits from expenditures on the cu ltural and transit facilities. AIP Communities worked closely with its financing partners, underwriters, market study provider, and tax counsel to ensure that this novel and complex financing plan was feasible and agreeable t o all parties. It was a complex process req ui r ing t he development to pass four tests to prove that the services provided we re attainable to an income level comparab l e to t ha t of the residents. Experts say this model had never been uti lized for a community theater. By collateralizing all the elements to increase the tax c redit allocation, AIP was able to raise sufficient equity to complete the TOD. Also, because the County's Gen eral Obligation Bonds were given as grants, the developer had to go through a t hird party who would accept the funds, and then loan the grant dollars back to an affiliated entity, who then lent it to the partnership. The financing for Phase II was not as complex, however it required AIP Communities to be one of three successful applicants in an extremely competitive 9% LIHTC application administered by the Florida Housing Finance Corporation. The Corporation only holds one 9% LIHTC application round per year and in 2015 , funded only 3 applications among the 53 app lications submitted. Despite having a slim 1 in 17 chance of being selected for funding, AIP submitted a faultless application and won a LIHTC allocation. · More details on this development may be found in Tab 2, Respondent's Qualifications. Northside Transit Village Northside Transit Village ("NTV") is a partnership between Miami-Dade County and AIP Communities that will transform an underutilized six-acre surfao:? parking lot at the Northside Metro rail Station into a vibrant, urban infill community. The mixed-use Transit Oriented Development ("TOD") increases ridership on the Metrorail and offers an opportunity for affordable housing residents to live without the cost and burden of a car. P The first of four phases of development was completed in 2015, and provides 100 two-, three-and four-bedroom apartment homes, residentia l amenities, a parking facility with 201 spaces, and :---,-""""'--=~= 2, 140 square feet of reta i I. Phase I is set- aside for individua ls and/or families earning less than 33%, 50% and /or 60% or less of the Area Median Income ("AMI"). It is a LEED Silver certified de- velopment and a winner of the US Green Building Council South Florida 2015 Gala Verde Award. The master planned development conforms to the -design guidelines of the Rapid Transit Deve l opment Impact Zone as well as the North Central Urban Area District. The four phases of de- velopment will provide 438 affordable homes with pedestrian open space in the form of p l azas, courtyards and landscaped areas; 831 total parking spaces including 250 spaces built for transit riders; 20,000 square feet of commercial/retail space; and convenient connections between the transit station, parking, and the residential and retail elements. In addition to the Metrorail, there are public bus stops on-site with routes to all major employment areas . 68 ATLANTIC ~._PACIFIC Pedestrian traffic is generated with ground level retail accessed via patterned pedestrian walk- ways, creating a sense of neighborhood for the residents and transit riders. The master plan in- corporates open streetscapes and wide pedestrian-friendly, shaded sidewalks. An "Eyes on the Street" design is incorporated through the use of windows and balconies at bedroom and living areas to encourage a safe , walkabl e community. The installation of stone accents on exterior walls, landscape buffers and vegetation facilitate a visual transition between the public and private areas of the site. W ith immediate access to transit and daily services, NTV offers a holistic approach to affordable housing. The dividends are already paying off for residents and the community alike. Specifically, residents save money on gas, water and electric bi ll s each month, and many families are no longer dependent on the automobile. These savings -coupled with lower rents -are par- ticularly critical in Miami. NTV is the product of a competitive RFP process whereby the development was granted a 55 - year ground lease with two 15-year extensions from Miami-Dade County. Phase I of the North side Transit Village is a $28M development financed using several sources of public funds as well as private sector debt and tax credit equity from Wells Fargo Bank through the syndication of 4% low-income housing tax credits (LIHTC) from the Florida Housing Finance Corporation ("F HFC "). Additionally, soft debt for the project was procured in the form of a low-interest loan from the Miami-Dade County SURTAX program, a grant from M ia m i Dade County Building Bette r Commu- nities-General Obligation Bond program funds), and Federal Neighborhood Stabilization Program 3 funds administered through Miami Dade County's Public Housing and Commu n ity Development department. In February 2017, the. FHFC approved a 9% LIHTC allocation for the second phase of Northside Transit Village ; i n March 2018, M iam i-Dade County's Board of County Commissioners approved a $2.SM Documentary Stamp Surtax allocation for the development. This phase will provide an additiona l 120 affordable apartment homes for seniors 55 or older, as well as garage structure with parking spaces reserved for Miami-Dade Transit. This development comes at a pivotal time for t he community a_s Miami-Dade County has adopted The Smart Plan which will improve travel times, transit service, transit ridership, transportation cost savings and improved access to major employment centers, ultimately advancing economic growth. The second phase is under con- struction and will be completed in the fourth quarter 2019. The third phase to be constructed, will be financed with SAIL and SAIL ELI gap loans competitively secured from the Florida Housing Finance Corporation, the loans will be paired with 4% LIHTC and tax-exe mpt bonds. Construction will commence in the thi rd quarter of 2019 and will consist of 1 80 apartment homes. Upon com- pletion of the two phases there will be a total of 400 quality affordab le apartments. Both phases were designed by Corwil A rchitects and built by AIP Community Builders and managed by AIP Community Management. 69 ATLANTIC ..._PACIFIC Washington Square Washington Square is an 89-unit, elderly, affordable TOD located in three non-contiguous loca- tions near the Culmer Metro-rail Station in the C ity of Miami developed by AjP Commun ities and managed by AjP Community Management. The first site is comprised of an 11 -story building offer- ing 67 units, on -site leasing office and community amenities. The second lo.cation is an extensively renovated 21 -unit public housing development built in 1968 known as Green Turnkey Plaza, and the third site is a renovated two-bedroom single family home. The development provides extreme- ly-low, very-low and low-income seniors a safe, vibrant, mixed-income community with convenient access to public transportation, Jackson Memorial Hospital, employment, shopping, schools, and recreational activities. With immediate access to transit and daily services, Washington Square offers a holistic approach to affordable housing. The dividends are paying off for residents, the County, Transit and the com- munity alike. Specifically, many residents do not depend on an automobile and save money on car insurance, maintenance and gas. Through the County's "Golden Passport" program, all residents ages 65 and over receive a free transit pass. These savings -coupled with lower rents -are particu- larly critical in Miami. Meanwhile, the development has also unlocked value for the County. By read- ily attracting residents -and their visitors, the County benefits from increased ridership and addition- al federal funding, while construction of Washington Square helped to fuel local jobs. TODs als_o make a tremendous social, financial and environmental impact on the community -by reducing sprawl 1 energy and transportation costs; alleviating traffic congestion ; stimulating local economic investment; and enhancing overall quality of life. The development also provides senior residents with a host of enriching social services that are intended to develop social and economic opportun ities alike. Life safety, health and nutrition class - es are offered to residents free of charge and are facilitated through the onsite computer lab and library, and onsite visits from medical centers on topics such as stress and memory loss. Daily activities such as bingo and social gatherings in conjunction with onsite fitness facilities and am - ple outdoor green space on the terrace, form another crucial component of Washington Square's multi-pronged social offerings. Finally, financial counseling and financial assistance with a purchase of a home help to round out the community's life skills programming. The A!P team creatively structured this transaction by pairing the scattered sites (one private and one public) to successfully compete for 9% LIHTC. Neither site scored competitively on its own across all the scoring criteria outlined by FHFC 1 but when combined into a single development we were able to secure financing . The private site scored proximity points (awarded for distance to important community services such as transit, grocery store/ medical facility, etc.) as a result of being adjacent to a Metrorail station 1 and met FHFC's goal to fund a TOD. The public housing site 70 ATLANTIC _..,._PACIFIC allowed the application to earn the Public Housing Authority ("PHA") points (added to the prox- imity score of public housing sites) and to meet FHFC's goal to fund a Public Housing Revitaliza - tion Development. In addition to these benefits, combining the rehabilitation units with the new construction units improved the development 's overall leveraging (determined by the amount of funding requested per unit) because rehabilitation units require less funding than new construction units. Neither site would have been competitive as stand-alone projects; however, this innovative strategy allowed for the construction of 67 new affordable ho using units for seniors, in addition to improving and preserving 22 public housing units. 71 Tab4-Utilization of Disadvantaged ("DBE"), Minority ("MBE") and ATLANTIC o men ("WBE") Business Enterprises and Section 3 .a1 .. PACIFIC -COMMUNITIES- Utilization of D/M/WBE and Section 3 Al P Communities ("A/PC") and in -house general contractor A/P Community Builders ("A/PCB"), both Section 3 Certified businesses by the Miami-Dade Public Housing and Community Development, are strong advocates ofthe Section 3 program, and will partner and collaborate with Section 3 residents and subcontractors as well as certified Disadvantaged and Minority and/or Women-owned Business Enterprises ("D/M/WBE"). A/PC and A/PCB commit to award at least 20% to minority businesses in the execution of this development effort. Further, A/PC and A/PCB will comply with the requirements set forth in Exhibit A of the RFQ, including the resident hiring requirements listed below: RESIDENT HIRING REQUIREMENTS Contract Threshold Amount for Construction or Service Contracts $25,000 or more ~ JOB BOARD NORTHWEaT GARDENS V M INCOUIIMII •■ECTIO II ~ MlfNKl'II n, ,_,,.LY c~-..,_.~ Section 3 Involvement as a Percentage of Total Labor Dollars 5% of the labor dollars To facilitate additional Section 3 and D/M/WBE participation, A /PCB will carve smaller scopes J , from larger trades to be awarded to smaller subcontractors as needed and can pay these subs on a biweekly or even weekly schedule versus the monthly standard. In this model, the infused capital to these businesses has an exponential impact on their sustainability and provides them resources Lo continue to grow their businesses and hire more individuals from lf!tlU the community, leading to an economic revitalization throughout Miami Beach. We will engage several qualified D/M/WBE and Section 3 firms and place them on a preferred vender bid list which ensures they will be solicited during the bidding process. A/PCB will take all other affirmative steps as listed in HUD CFR Part 135. The development team has included the following in the hiring plan to achieve Section 3, DBE, WBE and MBE goals: • Hiring of a Compliance Coordinator that is dedicated to growing the Section 3 and D/M/WBE platform by networking with area small businesses and minority business associations, hosting job fairs and attending job fairs at other institutions and helping qualified subcontracting firms apply for and obtain their Section 3 and D/M/WBE certifications. • Include verbatim Section 3 language in the general contractor contract and ensure subcontractors use the same language in their subcontracts. • Contact business assistance agencies, minority contractors' associations, labor surplus firms and community organizations to inform them of contracting opportunities and request their assistance in identifying potentially qualified certified D/M/WBE and Section 3 businesses. • Advertise contracting opportunities by posting notices, in English and Spanish, which provide general information about the work to be contracted and where to obtain additional information, in the common areas or other prominent area housing developments and in other public places. 72 Tab 4 -Utilization of D/M/WBE and Section 3 ATLANTIC ~•PACIFIC • Advertise employment oppo rtunities, in Engl ish a n d Sp a n i sh , by posting noti ces wh ich provi de general information about the work, avail ab le p o sitio n s a nd w h ere to obtain add iti o nal information, in local media outlets to promote interestbo thwith in thevicinityofth e d ev e lopment and among low income residents in the City of Miami Beach and Miami-Dade County. • Provide written notice to all known D/M/WBE and Section 3 business concerns ofthe contracting opportunities, in sufficient time to allow the Section 3 business concern s t o respond to the bid invitations or request for proposals. • Follow up with certified D/M/WBE and Section 3 business concern s t h at have expressed interest in the contracting opportunities by contacting them to provide additional information on the contracting opportunities. • Coordinate pre-bid meetings at which D/M/WBE and Section 3 business concerns can be informed of upcoming contracting and subcontracting opportunities. • Advise D/M/WBE and Section 3 business concerns as to where they may seek assistance to overcome limitations such as inability to obtain bonding, lines of credit, financing, or insurance. • Arrange solicitations, t i mes for the presentation of bids, quantities, specifications, and delivery schedules in ways to facilitate the participation of D/M/WBE and Section 3 business concerns. • Wh ere a p pro p riate, bre ak out contract work items into eco nom ically feasible units to facilitate p articipati o n by D /M/WBE an d Section 3 busi ness c o ncerns. • N umerical goa ls (n u mber o f awards an d doll ar amount of contracts) for award of contracts to D/M/WBE and Section 3 business concerns. AIP also conducts targeted outreach to include addit i o n al local co ntracto rs in the h i r ing process. These efforts are not only beneficial but mandatory t o en sure that developments such as these successfully meet Section 3 and D/M/WBE goals and benefit th e c o mmun ity on a large r scale. As an example of Al P's commitment to the Section 3 program, we awarded $12M in subcontracts to Section 3 certified businesses on four of our projects in Miami-Dade County: Audrey M . Edmonson Transit Village (fka Seventh Avenue Transit Village), Northside Transit Village I, Northside Transit Village IV and Washington Square. In addition, our Saratoga Crossings project in Broward County has awarded over $4M to Section 3 certified contractors. The chart below illustrates the various ways in which we have complied with Section 3 and incorporated local subcontracting business opportunities into our various projects. Development Contract Agency Complied with Section 3 Location D/M/WBE Goals Audrey M . Edmonson Transit Miami-Dade County Subcontracted 44% of the development hard Village, County-owned Public Housing & costs to Section 3 businesses and 53% to DBE/ land Community Develop-MBE firms . Sixty-five Section 3 employees Miami, FL ment were h i red by subcontractors . Seventh Avenue Transit Miami-Dade County AIPCB e m ployed 3 ind ivid ual s fro m Greater Village 11, County-owned Public Housing & Miami Services Cor p . and subcont racted with 7 MBE firm s with a t otal co ntra ct val ue of over land Community Develop-$SM representing 28 .58% of the total con-Miami, FL ment struction contract. 73 Tab 4 -Utilization of D/M/WBE and Section 3 ATLANTIC ~.._PACIFIC Development Contract Agency Complied with Section 3 Location D/M/WBE Goals At Northwest Gardens V, 25% of the hard costs Northwest Gardens V (New were contracted to MBE/WBE firms, 11 % was Construction) & contracted to Section 3 firms, and 24 Section 3 HAP Housing Authority residents were hired. For the rehabilitation of Sunnyreach Acres (Rehabili-of the City of Fort Sunnyreach Acres, 51 % of the hard costs were tation) Contract Lauderdale subcontracted to Section 3 businesses, five Fort Lauderdale, FL Section 3 residents were hired, and 50% of the total development cost was paid to MBE/WBE firms. A Section 3 local hiring plan was followed , 5% Sailboat Bend Apartments, Housing Authority ± of the hard costs were contracted to Section HAP Contract of the City of Fort 3 firms, and 16 Section 3 residents were hired. Fort Lauderdale, FL Lauderdale In addition, the contractor complied with Da- vis-Bacon Act wage requirements . Saratoga Crossings I & 11, HAP Contract Dania Beach Housing Over 30% of the work was subcontracted to Dania Beach, FL Authority MBE, WBE and/or Section 3 firms. A Section 3 local hiring plan was followed and NSP3 Loan, 27% of the employees were hired from the Northside Transit Village I, Miami-Dade Public local vicinity, and 6.96% of new hires were County-owned Housing and Commu-Section 3 residents. In addition, 20% of the Miami, FL land nity Development hard costs were awarded to MBE contractors and the contractor complied with Davis-Bacon Act wage requirements. 39% of the work was subcontracted to DBE, Northside Transit Village IV, County-owned Miami-Dade Public MBE, WBE and Section 3 firms. Project also land Housing and Commu-participated in Transitions program, em- Miami, FL nity Development ploying trained cadets that were previously incarcerated. Island Living Partnered with Palmetto Homes of Miami, Inc., a local minority developer and Miami-Dade Apartments, CRA Grant Southeast Overtown/ certified Section 3 firm. 100% of unskilled Park West CRA labor new hires were Section 3 residents and Miami, FL 28% of the total hard construction costs were contracted to Section 3 firms. Pathways at Goodrich Place, PHA-owned Housing Authority of 40% subcontracted to Section 3 firms . Austin, TX land the City of Austin The Studio At ThinkEast, PHA-owned Housing Authority of 32% subcontracted to MBE firms. Austin, TX land the City of Austin Laurel Glen, Texas Department of LIHTC Housing & Communi-30% subcontracted to MBE firms. San Antonio, TX ty Affairs (TD HCA) The Terraces at Arboretum, LIHTC TDHCA 30% subcontracted to MBE firms . Houston, TX The Bristol, LIHTC TDHCA 30% subcontracted to MBE firms. San Antonio TX AJPC has engaged in numerous programs across our various projects that provide job training, employment, and contracting opportunities. We have highlighted some of our most recent and successful programs below. 74 Tab 4 -Utilization of D/M/WBE and Section 3 ATLANTIC ._PACIFIC Youthbuild Program -During the construction o f A ud rey M. Edmo nson Tran sit Vil la g e (fk a Seve nth Avenue Transit Village), Northside Transit Village I, and Island Livin g, AI P p a rtn e red w ith G rea t e r Miami Services Corps ("GMSC") to train local 18 -23 y e a r olds in t he constru cti on i nd ust ry via t he Youthbuild program. This p rog ram , administered by th e D epartm ent of Labor, is a co m m unity- based alternative education prog ram that provides o n-site j ob t rai n i ng and ed uca tion oppo rtu n it ies fo r at -r isk youth a ges 16-24. At least 8 pa rtic ipa nts lea rne d con struction sk i lls on AIP afforda bl e hou sin g construction si tes in the i r own nei g h borhood s. These ind iv idua ls receive ha nd s-on tra ini ng from experi enced subcontracto r s whil e als o p a rt ic i pating in cl assroom learnin g sess io ns on construction management and construction sa fety ta ught by GMSC sta ff and ex pe r ie nce d construction professionals. This curriculum gives students that did not graduate from high school the opportunity to ta ke GED courses and provides co n structi o n site experience a nd kn owledge that can be applied d i re ctly toward future emp loyme nt. Ad d itionally, in giving b ack to the ir own community, these at-risk youth are given an im mea su ra b l e sens e of pride and accomplis hment. AIPC staff previously completed Northwest Gardens 1-V, Sailboat Bend, Dixie Court 1-111, and Dr. Kennedy Homes incorporating the Youth build Program. In 2016, AIPCB hosted events at Northwest Gardens V, r~~m an AIP joint venture with the Housing Authority of the :I 7"'1 ~(ii -= , ,.ial. ~ · L~~ · , ............. .:. "' ' . __.. .... ~i'~~ -;.'·• ,, ;~ ;-, I ;, r ·~-.,.._t · .,,,~ • • .,,.,,.. -~ l .. r~-I 6 City of Fort Lauderdale ("HACFL"), to provide hands on training to seven YouthBuild program participants on aspects of construction and construction management. Our experienced project manager led students on site and provided training on various construction -processes completed by different trades such as , foundation and site work, vertical construction, and building out the interiors, hanging drywall, cabinets, and installing fixtures. In a classroom setting, the Youth build participants also learned about architectural design and plans, cost budgeting, and creating project timelines. -,. ·~ ;,.. !~ ! _; j ' .;. .~-1'; ~'• I -- Additionally,AIP partnered with HACFL to implementthe Step-Up Program atthe Northwest Gardens developments. The HACFL began this program by employing their residents for maintenance j o b s on t hei r prop e rties . T he program was so successful , it has evolved and now includes training a p p r enti c es i n wood -w orki ng and ca b inet -ma king, urban farming, and other e ntre p re neurial skills. Employees of t h e Step-Up Pro g ra m b u ilt an d inst alled all ofthe kitchen and ba th ro om cabinetry for D ixie Court Phas e I, II a nd Ill , Northwe st G arde ns I, II, 111, IV, and V, Sailboat Bend, Saratoga Crossings I & II, and Dr. Kennedy Homes, and are currently being trained in green building practices. The general contractor at Sailboat Be nd w ent on to hire one of the Step-Up apprentices as a full -time employee after the project was co m p lete d . At least nine Step-Up apprentices have since been hired for full time positions within the construction industry. The Step-Up Program will also be implemented at Suncrest Court and Sailboat Bend Apartments II with the HACFL, construction finance closing is projected in the 3 rd quarter of 2019 . 75 April 16, 2019 Mr. Howard D. Cohen , CEO Atlantic Pacific Communities, LLC 161 t-NoJ 6th St., Suite 1020 Miami, FL 33136 RE: PHCD Section 3 Business Certification Dear Mr. Cohen: Public Housing and Community Development 701 NW 1st Court• 16th Floor Miami, Florida 33136-3914 T 786-469-4100 F 786-469•4151 miamidade.gov Public Housing and Community Development (PHCD) has reviewed your application and determined that Atlantic Pacific Communities, LLC currently meets the requirements for approval as a PHCD Section 3 Certified Business. Your firm has been approved under option 3 f Finance/Investment/Holding Co.) for priority in contracting opportunities as applicable under 24 CFR 135.36. This certification is valid for one ( 1) year from the date of this letter and is subject to periodic reviews for compliance and accuracy of new hire verification and contracting obligations. PHCD reserves the right to rescind certification privileges if deemed necessary during this period. Next Step: For more information on how to do business with Miami-Dade County, please register your firm with the Internal Services Department at: http://www .miamidade.gov/procuremenUve ndor-services.asp . Things you need to know: • To claim Section 3 preference, a business must be certified at least two (2) weeks prior to the bid opening date . • To claim the Section 3 Certified Business Preference for any PHCD bid, every business is required to submit the Sec/ion 3 preference cla im documents with its bid-proposal during the bidding process. • Section 3 Businesses are responsible for retaining eligibility, recruitment, and selection records in relation lo "new hire activity" of a Section 3 resident, for a period of three (3) years. Records may include tax documents, proof of household size, household income, etc. As a PH CD S-3 Certified Busing§~+ you h?v~ fTlE Q~ ~ co mmitment lo sub co~tr?~t in 8/<Cess o r 2 5 pe rccnl o f the dollar award o f all sub-on trai.;t_sJ.Q bysinesses tha t moc he ualilit:ation s as a Section 3 bu sin ess. Please ensure that your bu si ness registers for an Elation Systems {www.elationsys.com ) account and that quarterly Section 3 Workforce are completed as the prime developer or when hired as a sub-tiered contractor and/or an awarded contract by PHCD. For an up•lo-date list of Section 3 businesses, send an email to Seclion3@miamidade.gov. If you have any questions regarding this certification, please contact me at 786-469-4227 or via email at Section3@miamldade .gov . April 16, 2019 Mr. Howard D. Cohen, CEO Atlantic Pacific Community Builders LLC 161 NW 61h St., Suite 1020 Miami, FL 33136 RE: PHCD Section 3 Business Certification Dear Mr. Cohen: Public Housing and Community Development 701 NW 1st Court• 16th Floor Miami, Florida 33136-3914 T 786-469-4100 F 786-469-4151 miamidade.gov Public Housing and Community Development (PHCD) has reviewed your application and determined that Atlantic Pacific Community Builders LLC currently meets the requirements for approval as a PHCD Section 3 Certified Business. Your firm has been approved under option 3 (General Building Contractor) for priority in contracting opportunities as applicable under 24 CFR 135.36. This certification is valjd for one (1) year from the date of this letter and is subject to periodic reviews for compliance and accuracy of new hire verification and contracting obligations. PHCD reserves the right to rescind certification privileges if deemed necessary during this period. Next Step: For more information on how to do business with Miami-Dade County, please register your firm with the Internal Services Department at: !i llp://www.miami da de .g ov/procurernen t/vendor-scrvi ces.as p. Things you need to know: • To claim Section 3 preference, a business must be certified at least two (2) weeks prior to the bid opening date. • To claim the Section 3 Certified Business Preference for any PHCD bid, every business is required to submit the Section 3 preference claim documents with its bid-proposal during the bidding process. • Section 3 Businesses are responsible for retaining eligibility, recruitment, and selection records in relation to "new hire activity" of a Section 3 resident, for a period of three (3) years. Records may include tax documents, proof of household size, household income, etc. A s a PHCD S-3 Cert1fjec;I Bu~i_n~§§i YQU have made a con:iri:,i\m@nl I_Q subgonlrac t in excess of 25 :.i er~l;l nt oft e ollar award of .t ll subco ntracts to busin esses 1h 31 meet the _g µaltfications as a Sr;c1 ion 3 bus in~ss . Please ensure that your business registers for an Elation Systems (~~elationsys.co m ) account and that quarterly Section 3 Workforce are completed as the prime developer or when hired as a sub-tiered contractor and for an awarded contract by PHCO. For an up-to-date list of Section 3 businesses, send an email to Section3@miamidade.gov. If you have any questions regarding this certification, please contact me at 786-469-4227 or via email at Seclion3@mia m idade .gov . Sincerely , ~-'"'"''' ·tn, PUIUC HOU~NG AND ( . (OftKllffllT oml.DfflEN' ~ (OJtL 1<11151'10 l');',CJlt1(.I i• Tab 5-Understanding Local Requirements ATLANTIC ~-..PACIFIC -C0"'4WUH l 'f11S- The AIP development team is accustomed to working within a wide variety of different geographies, construction types, and legal and political environments. The AjP team has experience developing and building affordable housing in over 20 different counties in Florida ranging from the Panhan- d le to the Flo rida Keys. Our widespread experience throughout the state gives us the requisite knowledge of the various entitlements processes with local municipalities and utility authorities to efficiently complete the design and permitting processes. The architectural firm, Corwil Architects ("Corwil"), has a diversified practice that encompasses de- sign and project management for condominiums, apartments, low-income housing, office buildings, air rescue stations, fire stations, detention facilities, warehouses, custom homes, hospitals, assisted living facilities for the elderly, noise abatement barriers, storage facilities, site development, and space planning. Corwil is thoroughly familiar with the Florida Building Code and other pertinent regulations of South Florida authorities having jurisdiction. Corwil has proven their expertise in designing and executing construction projects per the building and zoning codes with authorities having jurisdiction. Within the past ten years Corwil has successfully designed over 3,500 residential units of which over 2,000 have been affordable multifamily developments. Corwil has been the architect of record on over a dozen urban in-fill developments for AIP Communities including Northside Transit Village II and IV in unincorporated Miami-Dade County, Audrey M. Edmonson Transit Village II, Island Living Apartments and Residences at Dr. King Boulevard in the City of Miami. AIP also utilizes highly skilled land use attorneys, surveyors and engineering professionals. This team conducts a thorough due diligence of all issues associated with the site, including identifying underground improvements, locating and mapping existing easements on the property, analysis of existing zoning ordinances, and DEP and FDOT requirements. If required, the team will engage a specialized firm to survey underground utilities that may not be identified on title (typically using ground-penetrating radar). If the AIP development team were selected forth is project, we would immediately initiate meetings with the goal of completing development designs that meet the applicable land-use and building codes. We will work directly with the City's Department of Planning, the Historic Preservation Board, Miami-Dade Public Works and Water and Sewer departments; and additional agencies as appropri- ate to coordinate the review processes for permitting and compliance. In handl i ng non-governmental agencies, such as AT&T, Comcast, FP&L, etc., AIP Communities will first procure a concurrency letter from the applicable service during the pre-development stage to ensure project viability and service availability. Once site planning is nearly complete, A IP and the design team will meet with the public utility managers to discuss the appropriate sizing and location for the applicable equipment, tie-ins, easements, transformers, duct-banks, etc. We will always en - deavor to propose a design that serves any app l icable future phases as well as maintains flexibility in points of service in the event of service interruption. In conclusion, Atlantic!Pacific has been active in Miami Beach real estate since the 1940's. Our team has extensive experience, knowledge and relationships with the City of Miami Beach, and historic preservation board. An example of this experience was the historic rehabilitation and revitalization of The Crown on Collins Avenue. This was the city's first skyscraper, a 1940s Art Deco building, trans- formed by Atlantic I Pacific into new luxury ocean-front rental apartments. In addition to developing hotels, AIP Management currently has under management 12 condominiums with 2,858 units. 78 Tab 5 -Understanding Local Requirements ATLANTIC ..._.._PACIFIC Listed below are hotels developed (green dots) by AIP and properties currently managed (blue dots) and shown on the map. Developed 1. The Deauville Beach Resort 2. Sherry Frontenac 3. The Casablanca 4. The Crown 5. Saxony Hotel Manage 1. Canyon Ranch 2. Eden House 3. Terra Beachside 4. Sunset Harbour North 5. Palau Sunset Harbor 6. Decoplage Condominium 7. 300 Collins 8. The Waverly at South Beach 9. Mirador 1200 10. Louver House 11. One Ocean Condominium 12. Marea Island .i .r· OR~H BEA 1-1 .o: Mlam, Beaeh BAYSHORE ce. -,.-t,~) Miam C, ~c, 's. e O u )UTH Bf' ci1 ~ Af11 N(.,., LU~,' IL! S 79 Tab 6-Project Budget ATLANTIC ~•PACIFIC -COMMUHlfllS- Project Budget All Pre-development costs ( currently estimated at $1,463,979 and $1,328,383 per the attached budget) would be shared by both parties. HACMB would fund costs until an award of LIHTC (or a SAIL loan) and AIP and would then pay for pre-development costs. 80 HACMB Site -130 units 9% --PROJECTIONS Sources Total Sources Permanent First Mortgage 6,496,569 Construction Loan 24 ,600 ,000 Limited Partner Equity 27,526,657 General Partner Equity - Deferred Developer Fee 41,617 Total Sources 34,064,843 Uses Total Uses Hard Construction Costs 18 ,325,461 Recreational/Owner Items 350,000 Hard Cost Contingency 916 ,273 Art in Public Places 469,243 Construction Interest Expense 2 ,143,481 Permanent Loan Origination Fee 16,241 Permanent Loan Closing Costs 57,170 Construction Loan Origination Fee 246,000 Construction Loan Closinq Costs 49,200 Accounting Fees 40,000 .Appl ication Fees 6,000 Appraisal 12 ,000 Architect Fee -Des ign 750,000 Architect Fee -Supervision 100,000 Builder's Risk Insurance 75 ,000 Building Permit 694,581 P&P Bond 141,606 Cred it Underwriting Fee 13,695 Engineering Fee 180,000 Environmental Report 37 ,500 FHFC Admin istrative Fees 247,765 FHFC Application Fees 3,000 FHFC Compliance Mon . Fee 230,616 Impact Fees 171,019 Inspection Fees 160,000 Insurance -Property/L iability 78,000 Legal Fees -Partnership 300,000 Legal Fees -Other 150,000 Market Study 8,000 Marketing & Advertis ing 35 ,000 Stabilization Operating Expenses 105,090 Property Taxes 111,467 Soil Test Report 8 ,000 Survey (Including As-Built) 25,000 Title Insurance & Recording 251,348 Utility Connection Fee 140,585 Soft Cost Continaencv 203,764 Miscellaneous Reserves 306 ,237 Land , To Be Acquired 2,600 ,000 Developer's Admin. & Overhead 1,074,084 Developer's Profit 3 ,232.416 Total Project Cost 34,064,843 Predevelog_ment Budg_et - - - 1,216,214 - 1,216,214 Predevelog_ment Budg_e t - - - - - - - - - - 6 ,000 12 ,000 562,500 - - - - 13 ,695 135,000 20 ,000 - 3,000 - 171 ,019 50 ,000 - 15 ,000 50,000 8,000 - -- 8 ,000 25,000 - 20 ,000 12 ,000 - - - - 1,216,214 ATLANTIC ~•PACIFIC 81 Tab6-,ect Budget/ 9% Projections HACMB Site -130 units 9% -PROJECTIONS "'-'t-t·;-.i·11.,.;ig! .,..,,._..,. knn,!edP,i!lnerEqco ty GeneralPa!'lne1Eau,1r '.Ir-~ ToUISour,:.,,: --J~.:;:::t: 21,sn;if 'j .!!Alt """'"""'"" ,,.,,.._. , ... ,. , ... 111• ,1.-.m os-.. Nav-zo Jan-21 421749 1212252 1860175 1 8 18635 2221764 Ul.TQ Ull..J:U 1--.0..U~ ',111,'U 1.111."floll 155% ,ss, Apr-Z1 7AlJ.ltl , .... ..u. ·-,_.,..""" -· Aug-21 ti 12 2268560 2122665 17381148 1057.486 1,rn.uo , u ·i4J$ 1 r:iu:,i: II0""- 7)S°,i, ... ~, _,., _.,, 15 796510 1 69'11DJ :-, ... 1000',', , ..... ,_,, " . ... ·-,. ... ,, '"'" 122116 1n,111 1J1.,,., ·" Ma~22 Jun-i2 111,!{I .!!?..''' ;_ LAN TIC ~.._PACIFIC Jul-:lZ l!M_N Aua-22 " 6 49 6569 u ..... ,,, 11,n,Qs.J ,.,,,,.~- 100,0,. """' 6.496569 24.5257,9 27.5266S7 =~°':s J ,~:~) t:,~ m~ ,.,_):, ,~c,, i...-nJ--~i;,~im-~ 11:: ,a~ ,,.~~ ~;= :l!Mxit ,•~~ • -19') tCONO .,_,, .un, ,-,a 916213 fabl_UI~ _I ---------------I .!£!I! ,..,.. 1_,m,-):t ,~c,, , ... ri) ~l;J)f'CL1 ,..,,.. :rtin~ .101).,, , .. )i~· .. .,. ..... ..... ,.,,., ...... .,, .,.,, .,,... 1001'0 tnuo1 1c.n, ,,.,.. .,_,, •!!! £!!2' :!'~~ •t,u> !t•t!:2 "l~ .. ~ ,011 ~1111 • _.q~_~f) ~2N l:I ~Ill ~1111! d» !!:! Ii! I ) 0011-1. 1r.:1ir. ._....u"ioffln:c_._ n1!11t ~•1111 J.1or--a1)J---.... h.> --~-h .1a, .. , 9 MO, J:0..~fl. ll~lo.a"0"111..a\,nn Ftt 1:0~Lo.aneb5or>gC.01ilS °"'"'1tM-Lml N'\.Or,:r-E:i"-f~ -~ -- U!IIHt UC1'11i IJIQlft Ir.JI-" ,mu,. tXHli ''°'" .,..,. 11.DOO """"" I ,.ooo "~f=f'l'•~ l 10000(1 115 .. coo 250{) 25!'~ 2soo ,~ <500 ~soo <Soc 1soo ~sec ~5~o 2500 1sco ;500 ;~ 100_000 M:.r .. ~\lil....,V'C!!: 1s qoo 1s.coo I """' ·:~.;.--~:~Ira~ ~~-:~~ 69•.581 >,-1111,,•Q"!.,,.9'11...... i ~3.6&5 136!15 ~I u. O•~;..__. L~~t~~ 1~~:~ ~r.:~=:;~~ ~·~~~~ J.000 13,~fl.5 18C,O OC 37.500 147./&5 "'"' """ ''"' ,soo ~ 500 <500 """ ~ sec ~ 5~0 ,sw "'"' "" 247755 ·~cca--rs.-~r,.. ,_,,.,. -·-k.rru-~SJ..it, \.rPlf"ttt-F•"tP'll:ftl"a \l'J4rUI..~ ·~~ I"~•~ l~~[ftJl:."'\O ~,., .. ~ ~ .... _ ~ ~,t~,As--But,) ~~n,o.,,,..a-rn ~ ~·-·~ ...,_ .. ~- """ HJ mm ffl , .. l;~-~ ;!~:~ 1000 ,ooo 1000 1 000 ,ooo 1000 '* 1000 1 C"J1 1000 1000 ,a 1000 I :~= """ ,ooo "'"" '""" '""' 1000 .... "'" , ... ,ooo ,ooo •= '""" 79.000 51 .DDO ~ JOG;COO 290.000 IC 1~G.OOO 150.000 I .DOD 8.000 JS.000 35.000 ., "' 10~·090 JS 030 21101• 111(4&1 ... ld~1M I 1st t&oe ~a:t,}, 1«n 1tt0 )t.('l) 1«., .'tl'.e .1~ IN'JOJ )~ ,o» ,c('I) )((Ill ,..,, "'" ;n '" ,e 1,01) 7 0QS ,e um '"" l!Ql H :!; .... )t,0.'l I .... ..... n ,-,ui ....... -·-·---------·-----·-·-.. -----,!!!;! !;le! d i .HJ t.t,J.tu 1..tU,1"' l.11t~! __ 1,fl_t_i!!~_ i .ni."1~ '!!~ ,,..,~_ ,.,_,_7~L ~~~w,~_ "''"" 'l.01 11) IU.nl 11~1$1 u 1..1n 1!!J1U 111.11' 1n .,t1 ur,h ,.u,,,a, 1-»l',m . 82 HACMB Site -4% --PROJECTIONS Sources Total Sources Permanent Tax Exempt Bond 6,577,603 Construction Tax Exempt Bond 15,300,000 Surtax 5,200,000 SAIL 6,300,000 Limited Partner Equity 11,733,028 General Partner Equity - Deferred Develooer Fee 730,704 Total Sources 30,541.335 Uses Total Uses Hard Construction Costs 17,745,726 Recreational/Owner Items 350,000 Hard Cost Contingency 887,286 Art in Public Places 439,314 Construction Interest Expense 1,286,754 Permanent Loan Origination Fee 16,444 Permanent Loan Closing Costs 57,883 Construction Loan Origination Fee 122,400 Construction Loan Closing Costs 30,600 Costs of Issuance 437,800 Other Loan Closina Costs 129,650 Accounting Fees 40,000 Application Fees 6,000 Appraisal 12,000 Architect Fee -Design 750,000 Architect Fee -Supervision 75,000 Builder's Risk Insurance 70,000 Building Permit 672,851 P&P Bond 137,126 Credit Underwriting Fee 24,551 Engineering Fee 180,000 Environmental Report 37,500 FHFC Administrative Fees 104,562 FHFC Application Fees 3,000 FHFC Compliance Mon. Fee 230,616 Impact Fees 167,769 Inspection Fees 160,000 Insurance -Property/Liability 78,000 Legal Fees -Partnership 300,000 Legal Fees -Other 150,000 Market Study 8,000 Marketing & Advertising 35,000 Stabilization Operating Expenses 105,090 Property Taxes 111,467 Soil Test Report 8,000 Survey (Including As-Built) 25,000 Title Insurance & Recording 294,596 Utility Connection Fee 140,585 Soft Cost Continaencv 196,336 Miscellaneous Reserves 302,581 Land To Be Acauired . Developer's Adm in. & Overhead 1,025,076 Develooer's Profit 3,586,772 Total Project Cost 30,541,335 Predevelop_ment Budget - - - - - 1,223,820 - 1,223 ,820 Predeveloement Budget - - . . - . . . . . . . 6,000 12,000 562,500 . . - . 24,551 135,000 20,000 . 3,000 - 167,769 50,000 - 15,000 50,000 8,000 . . . 8,000 25,000 . 20,000 12.000 - - . 1,223,820 ATLANTIC ~ .. PACIFIC -,1:11 ........ ..,..,,,1 - 83 Tab6-,ect Budget/ 4% Projections HACMB Site -4o/■ -PROJECTIONS ~-~~ lrucl1<1 .. Ta"o"E1<errpl8ard .. L edPa,tnerEqu,tyGerii,"" n e rE11u,ty □e rerr"d ..!!.~ ,.,,,~ I CCHS~UCTIOO ------ 6,577,603 1~no_Jl 001 s~oo ~00000 11'?ll031 '"'I 7:iV(ll nMu·u.- PRoFoRMA ~p-,0 '" e2'5 451 1,17J S61 940 280 1 147,407 42 1 W0 514e.00 ]87 174 472462 165'\\ 25S'A. 1<157192 6S5200 600020 Apr-21 ""~" ~ ,m _ ,m • ••- ~-m ~ •• m- •------- ,.,,oJ.x ,..tt■t"U ,,,n_.u: Aug-'Z1 544458 210600 255150 ,...,,~ .....,, ~-, ,. 747,122 307,63B 731100 523 171 ht'tgo -1m.m, " w..m " ,. 62657 13845 ..... 111.JU '" Apr-22 ~ 53,1<17 , ..... 1-LANTIC ~•PACIFIC '""" ,cui;, Aug~ .. 6,S77 603 54197 1 479 400 7271 852 8213 12; ---2l.!R1 • ... ,Hl,l!f, .... -6577,603 15 245.BOJ 5200000 6 300000 -1..S.W. ~~,,,.- !U!Sf I Tohl Um ~----:=:---==-==:---:-,=:-:---:==-==,----.;-= .. -==,--,-.= ·----_ ________ _ . ------~·-------------------I _..!2Y! l.Q r ING.JO 1.11-t)t.l 1,,t,11~ l'Vl~ l)t'l1) n&JII~ 17.745.776 »&!111 ,~, .... ,.,,~ H ,tlU) 11):,1» , ... -,,, «~ ~(1';1 ~<IC» ~= ~C:O ~«o 350.CC0 :o«~ ~~'J ,ow, tf'/6' »,W ,..., ,..,. 9 1AQ) ,.,..m _.,. •1,f/Jt U flt 71,0 l'lt:"11 07◄ tf ,7fl\ H7.2!15 ,~ .. ,. .,,f/Jt .. ,,. ~-~..t K.10 U:.i" a,n f 1.~ '11 M..U ~. l:''-" t~MI 1 /N I . "39297 ,:p,5 M..U} ~!•m t!S ,'""""'""-"'--= ,-,,.,,.i i .,,... u·,,. ,..., ,..., ,,_,,, "'-"' .,.,. '"'" "' ",m '>.W ,., _L"·"' S7.MJ 22.400 "'·""' ~-:: " H .1M (IJ)"I '"" ,,.,. ,,_ ,.,,. 'l,ttll.! l.l:T.t ...~ .. ,..,. i'AOl,'it- .. ·-·-I -..... I .. .,, ... i..':Clc.,,.....tt:t jl"C@ -~ •ror,1.11111 ,·,.mfo' 12,0 00 ,..._.rn:•Dn,,r, ,_,,n_nn ~ 1so,ooo l=1rn1 •S~rv,...... II 1s.ou~ 40000 2so □ isao 2500 1•,eo :• :,,oo 2500 ,_, 2sca :-·n:, ,,.. l'm 2soo 2sco ,-,ca., isao mo , ... , ... ,,.. 2500 "" 2Sfla :-·n:, , ... ,.,,, ..... 1r,n1 137,126 24.551 1BO.OOO 37.500 '"'"' 'kl 104.552 i ..... ._.tt ~ "'"' '·""" m 1r.//6g 167.759 ~'"' 1i.□□J ~ 141.000 1000 ucv •~ 1000 •.otO tU4 1,aaa teth ~ta ,coo 1000 1000 1000 I 150_000 ~ ~~~ry .1~~ ~~; ~:= !;, .n-o...,, r 150,CCO 150,1100 ~~ BC□□; B.000 .... '"" .... '·"" "'" 1,000 '"" .... ,coo '"°" 1000 1000 100 .. \IJot~l.~..-g ~S.L,00/ l5.000 1'~Cntli!~£,,._ ,ns c.s ~ JS □lO 211 02~ 21 ,,. t..11~1= 11 ~-~~~I 11000 ~=-:=:"8 :ti 2:!:~:~ t;~ .... '"... ,,Q~ ,.uo., ,_ U9l3 ir:5! 1¥ 1:f91! Jtu ,CC!I U1:! l"'9 n:tt ?:Vb -:-m :t ~ "IMD....,__ai~ JOl!A ! >::>.tit • • • • • _I~ ~~,.°'"'~ I _: ,..., >:I.Mt~ ui~m J;1l!1 a.nuiu ...... , ,, .... ,.. ,.~1_ ,,,a&1-i.""1"il.ua --:u,, ... ,,-. -:us....ou ~•n-Gi :U11 L1iH t.&fl t U """'" - 111457 U:;'"n zc~ i'!?i z- ,mm ' ~ .. ,., ,.,,_.,, ,01.m ... , .. 14012 "'"' iCS!! 2!!!12 JHfl !!.,17 ■,,'t&.11 ,..,, !"" n.m ...... 'tm ult ,. ___ ,_.m_~ 84 lffl~t >~1..!5, ,~ Tab 7 -Exhibit A -Certification of Respondent Regarding DBE/MBE/WBE/Section 3 Requirements ATLANTIC ~ .. PAC I F I C EXHIBIT A Use of Disadvantaged Business Enterprises (DBEs), Minority Business Enterprises (MBEs), and Women's Business Enterprises (WBEs) and Section 3 A. REQUIRED EFFORTS I. Consistent with Presidential Executive Order 11625, 12138, and 12432, and Section 3 of the HUD Act of 1968, the HACMB shall make efforts to ensure that small and minority~owned businesses, women's business enterprises, disadvantaged business enterprises, labor surplus area businesses, and individuals or firms located in or owned in substantial part by persons residing in the area of a HACMB project are used when possible. Such efforts shall include, but shall not be limited to: a. Including such firms, when qualified, on solicitation mailing lists; b. Encouraging their participation through direct solicitation of bids or qualifications whenever they are potential sources; c. Dividing total requirements, when economically feasible, into smaller tasks or quantities to permit maximum participation by such firms; d . Establishing delivery schedules, where possible, which encourage participation by such firms; e. Using the services and assistance of the Small Business Administration, and the Minority Business Development Agency of the Department of Commerce; f. Including in contracts a clause requiring contractors, to the greatest extent feasible, to provide opportunities for training and employment generated from the expenditure of Section 3 covered funds to Section 3 residents in the order of priority prescribed in 24 CFR 135.34(a), and to award ection 3 covered subcontracts to Section 3 business concerns in the order of priority set fo rth in 24 CFRl 35.36(a), requiring prime contractors, when subcontracting is anticipated, to take the positive steps listed herein. 2. Goals may be established periodically by the HACMB, for participation by small businesses, minority-owned businesses, women's business enterprises , disadvantaged business enterprises, labor surplus area businesses, and business concerns which are located in, or owned in substantial part by persons residing in the area of a HACMB project, in the HACMB' s prime contracts and subcontracting opportunities. B. DEFINITIONS 1. A small business concern is defined as a business which is independently owned and operated, not dominant in the field of operation in which it is bidding on government contracts, and qualified as a small business under the criteria and size standards in 13 CFR Part 121. Housing Authority of the City of Miami Beach A-I Co-Developer RFQ #J -2019 86 Tab 7 -Exhibit A -Certification of Respondent Regarding DBE/MBE/WBE/Section 3 Requirements ATLANTIC A!._PACIFIC 2. A minority-owned business is defined as a business which is at least 51 % owned by one (1) or more minority group members; or, in the case of a publicly-owned business, one (1) in which at least 51 % of its voting stock is owned by one (1) or more minority group members, and whose management and daily business operations are controlled by one (1) or more such individuals. Minority group members include, but are not limited to Black Americans, Hispanic Americans, Native Americans, Asian Pacific Americans, Asian Indian Americans, and Hasidic Jewish Americans. 3. A women's business enterprise is defined as a business that's at least 51 % owned by a woman or women who are U.S. citizens and who also control or operate the business. 4. A labor surplus area business is defined as a business which , together with its immediate subcontractors , will incur more than 50% of the cost of performing the contract in an area of concentrated unemployment or underemployment, as defined by the U. S . Department of Labor in 20 CFR 654 , Subpart A, and in lists of labor surplus areas published by the Employment and Training Administration . 5. A Section 3 Business concern is defined as one (a) that is 51 % or more owned by Section 3 Residents; or (b) whose permanent, full-time employees include persons, at least 30% of whom are currently Section 3 Residents, or within three (3) years of the date of first employment with the business concern were Section 3 Residents; or (c) that provides evidence of a commitment to subcontract in excess of 25% of the dollar award of all subcontracts to be awarded to business concerns that meet the qualifications set forth in paragraphs (a) or (b) in this definition of "Section 3 business concern." 6 . A Disadvantaged Business Enterprise is a small business concern that is certified as being (a) at least 5 I percent owned by one (I) or more socially and economically disadvantaged individuals or, in the case of any publicly-owned business, at least 51 percent of the stock of which is owned by one (1) or more socially and economically disadvantaged individuals; and (b) whose management and daily business operations are controlled by one ( 1) or more of the socially and economically disadvantaged individuals who own it. "Socially and Economically Disadvantaged individuals" means those. individuals who are citizens or lawfully admitted permanent residents of the United States and who are minorities or individuals found by the Small Business Administration pursuant to Section 8(a) of the Small Business Act to be disadvantaged. C. SECTION 3 REQUIREMENTS I. Section 3 Purpose -Section 3 of the Housing and Urban Development Act of 1968, as amended (12 U.S.C. 1701u)("Section 3") requires the HACMB to ensure that employment and other economic and business opportunities generated by HUD financial assistance, to the greatest extent feasible, are directed to public housing residents and other low• income persons, particularly recipients of government housing assistance, and business concerns that provide economic opportunities to low-and very-low income persons. Housing Authority of the City of Miami Beach A-2 Co-Developer RFQ # 1-2019 87 Tab 7 -Exhibit A -Certification of Respondent Regarding DBE/MBE/WBE/Section 3 Requirements ATLANTIC ~ .. PACIFIC 2. Section 3 Contracting Policy and Procedure -All contractors/businesses seeking Sectio n 3 preference must complete ce1tifications, as appropriate, as acknowledgement of the contracting and employment provisions required by Section 3. Such certifications shall be adequatel y supported with appropriate documentation . 3. Resident Hiring Requirements -The HACMB has included the following minimum threshold for resident hiring that is to be used on aJI construction contracts , service contracts and professional service contracts that contain a labor component. It is expected that an appropriate number of Section 3 persons with parti cular qualifications or a willingness to begin unskill ed labor wlll be able to participate in the HAC MB's contracted labor efforts. A prime contractor may satisfy the HA CMB 's resident hiring requirements t hrough its own work force , its subcontractors, or any combination thereof. CONTRACT THRESHOLD Al\10UNT FOR SECTION 3 INVOLVEMENT AS A % CONSTRUCTION OR SERVICE OF TOT AL LABOR DOLLARS CONTRACTS $25,000 or more 5% of the labor dollars 4. It is expected that an appropriate number or Section 3 persons with particular qualifications or willingness to begin unskilled labor will be able to participate in contracted labor efforts. If that does not occur, a prime contractor, on its own or through its subcontractor(s), may satisfy the Section 3 requirement set forth above by doing the following: a. Subcontracting or joint venturing with a resident-owned business. The business must be 51 % or more owned by public housing residents, or subcontract/joint venture with a business that employs full-time, 30% or more pub lic housing residents, or low-and very-low-income individuals within the City of Miami Beach or other qualified low-income persons. or b. Direct hiring of public housing residents and/or low-and very low- income neighborhood residents, or c. Incurring the cost of providing skilled training for public housing residents in an amount commensurate with 5% of the total contract amount. CERTIFICATION OF RESPONDENT REGARDING SECTION 3 REQUIREMENTS Respondent hereby acknowledges the contracting and employment proyisions required by and set forth in Section 3, Appropriate supporting documentation is attached hereto. Date: __ 6_/2_7_/_2_01_9 __ _ Housing Authority of the City of Miami Beach Signature of Principal of Respondent Name: Howard D. Cohen Title: Chief Executive Officer A -3 Co-Developer RFQ # J-2019 88 Tab 7 -Exhibit B -Project Chart ATLANTIC A!6.PACIFIC EXHIBITB For each project described in Section 3.E.2.b.6. · put an "x" in the box if the Respondent performed the function or utilized the described financing. For DBE/MBE/WBE/Section 3, insert the appropriate numbers. Project 1 Project 2 Project 3 Project 4 NAME: NW Gardens V Sailboat Bend ~udrey M. Edmonson thinkEAST Transit Village 1-11 Real Estate Development Feasibilitv Studies X X X X Sale of Real Estate X Real Estate Redevelopment X X ~oning Approv al X X X X Subdivision Approval X X Site Preparation Work X X X X Environmental Work X X X X Dedicated Infrastructure Other (specify) Master planning Financin~ Emoloyed Financial Feasibility Studies X X X X LIHTC X X X X HOPE VI CDBG (also HOME. RHF, etc,) X X FHA Multi-Family Insurance Fannie Mae DUS Federal Home Loan Bank Other Insurance Programs County Financing Programs fax-exempt Bondi HOME SURTAX, HOME Bank Financing X X X X Bond Financing X X X Bond Undervvriting X X X Tax Credit Syndicator X X X X Personal Guarantees X X X X Corporate Guarantees X X X X Construction Services Construction Contractor X X X Construction Manager X X X X Infrastructure Construction X X X X Housing Authority of the City of Miami Beach B-1 Co-Developer RFQ # 1-2019 89 Tab 7 -Exhibit B -Project Chart Des ign Services Property Management Ma rket in g Plans Pro p erty Manager Si te Maintenance S ite Security DB E/lVIBE/WBE/S ec tion 3 Do llars Paid as % of Total De vel opment Cost # of Persons E mploy ed .Miscellaneous Mixed Finance Qu a li fi cati on s Project 1 X X X X X X X See below See below X New Const ru cll on : 25%-M/WBE 11 %-Section 3 firms & 24 individuals Rehab : 50%-M/WBE 51 %-Section 3 firms & 5 individuals Housing Authority of the City of Miami Beach Proiect 2 X X X X X X X 5% Section 3 16 Section 3 X B-2 Project 3 X X X X X X X See below See below X Phase I: 44% of the development hard costs to Section 3 firms & 53 % to D/MBE firms . 65 Section 3 employees. Phase II : Employed individuals from Greater Miami Services Corp.; and subcontracted with MBE firms with a total contract value of over ATLANTIC _.,~PACIFI C -ro1111 v,.,,,.,_ Pro_ject 4 X X X X X X X 32% MBE - Co-Developer RFQ # 1-2019 ------------------------------...>s>M-repr.asemi11u..---------90 28 .5 8% of the total construction contract. ATLANTIC ~ .. PACIFIC Project 1 Pro_ject 2 Pro.iect 3 Pro.iect 4 Supportive Services X X X X a) Describe new and innovative financing techniques for raising capital that the Respondent has employed. Refer to Tab 2 , Section 3.E .2.b.7-Financing Experience b) Describe the approach to managing the financial risk associated with each Development. Refer to Tab 2 , Section 3.E .2 .b.7-Financing Experience c) Describe how each Development was kept on budget and on schedule. Describe any impediments that occurred and how they were handled. Describe interactions and involvement of non-employees, such as a project manager employed by the HACMB. Refer to Tab 2 , Section 3.E.2 .b.6 -Previous Housing Development Experience d) Provide a statement of how you will honor all financial guarantees , should the need arise. The statement should include more than a reference to the financial statements. Refer to Tab 2, Section 3 .E.2.b .10 -Financial Statements e) Describe prior Public Housing Authority developments; including the financing structure and the developer fee structure for each. The PHAjoint ventures were structured as proposed in Tab 2, Section 3 .E.2.b .7 ., with the PHA having a 51 % ownership interest in the limited partnership or as the sole general partner with an affiliated APC entity serving as a Special Limited Partner, with a 50/50 cashflow split. The developer fees were paid 75% to APC and 25% to the PHA. See section referenced for details . Housing Authority ofthe City of Miami Beach B-3 Co-Developer RFQ # 1-2019 91 Tab 7 -Exhibit B-2 -Project Credit Underwriting Reports ATLANTIC ~ .. PACIFIC ,.,~LTZER MANAGEMENT GROUP, INC. July 24, 2015 Mr. Ralph Stone, Executive Director Housing Finance Authority of Broward County Broward County Governmental Center 115 S. Andrews Avenue Fort Lauderdale, Florida 33301 RE : Northwest Gardens V Recommended First Mortgage Loan $14,000,000 Dear Mr. Stone: 17633 ASHLEY DRIVE PANAMA CITY BEACH, FL 32413 TEL: (850) 233-3616 FAX: (850) 233-1429 This letter is being submitted to the Housing Finance Authority of Broward County ("BCHFA") as a Multifamily Housing Note Series, 2015, Recommendation Letter for First Mortgage Financing in conjunction with funding by Florida Housing Finance Corporation ("FHFC") in the form of a State Apartment Incentive Loan ("SAIL") Second Mortgage Loan, an Extremely Low income ("ELI") Third Mortgage Loan and 4% Housing Credits ("HC "). Seltzer Management Group , Inc . ("SMG or Seltzer") has submitted a Final Credit Underwriting Report to FHFC recommend ing a SAIL of $4,960,000 an ELI Loan of $1,500,000 and an Annual 4% Non-Competitive HC Allocation of $1,067,851 (see attached). SMG recommends BCHFA approve the Northwest Gardens V First Mortgage Construction Financing in an amount up to $14,000,000 with a planned principal reduction of approximately $7,500,000 following construction completion, to result in a Permanent First Mortgage Loan of $6,500,000. If you have any questi ons regarding this Recommendation Letter or any comments on the attached FHFC Credit Underwriti ng Report, please call me at (850) 233-3616 , ext. 238 . Sincerely, SELTZER MANAGEMENT GROUP, INC . llJLr Wanda Greggo Credit Underwriter Attachment PANAMA CITY BEACH • ORLANDO• FT. LAUDERDALE 92 Florida Housing Finance Corporation Credit Underwriting Report Northwest Gardens V SAIL, ELI Gap, and 4% Non-Competitive Housing Credit Programs ATLANTIC ~.._PACIFIC SAIL/ELI Gap RFA 2014-103 (2014-322S) / 4% Non-Competitive Housing Credits (2013-537C) Section A Report Summary Section B Loan Conditions and HC Allocation, Recommendation and Contingencies Section C Supporting Information and Schedules Prepared by Seltzer Management Group., Inc. Final Report July 23, 2015 93 NORTHWEST GARDENS V TABLE OF CONTENTS Section A Report Summary ► Recommendation Overview Uses of Funds Operating Pro Forma Section B Loan Conditions and HC Allocation, Recommendation and Contingencies Section C Supporting Information and Schedules ► Additional Development and Third Party Information ► Borrower Information ► Guarantor Information ► Syndicator Information ► General Contractor Information ► Property Manager Information 15 Year Pro Forma Features/Amenities and Resident Programs Completeness and Issues Checklist HC Allocation Calculation Exhibits JULY 23, 2015 Al-All A12-A16 A17-A23 A24-A26 B1-B7 C1-C16 C17-C22 C23 C24-C25 C26-C27 C28-C29 1 2 3 4 1-6 1-3 1-3 ATLANTIC ~._PACIFIC 94 Section A Report Summary JULY 23, 2015 ATLANTIC ..?6.PACIFIC 95 ATLANTIC ~ .. PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Recommendation Seltzer Management Group, Inc. ("SMG" or "Seltzer") recommends a State Apartment Incentive Loan ("SAIL") in the amount of $4,960,000, an Extremely Low income Program Loan ("EU Gap Loan") in the amount of $1,500,000 and an annual Housing Credit allocation of $1,067,851 be awarded to Northwest Gardens V by Florida Housing Finance Corporation ("FHFC" or "Florida Housing") for permanent and/or construction financing. Deve l opment Name : No1thwest Gardens V Program Numbers : RFA 2014-103 700 NW 12th Avenue 1311 NW 7th Street 647 NW 13th Terrace 1208 NW 7th Street 2014-322S 2014-537C Address: 100 SW 18th Avenue City : Fort Lauderdale Zip Code : _3_33_1_1 __ _ County: Broward County Size : Large -~-------- Development Category: New Construction Development Type : Construction Type : Concrete masonry with slab on grade foundation Demographic Commitment: Elderly: Yes Farmworker or Commercial Fish Worker: No Low High Bed Bath Square Gross HC HOME HOME Rooms Rooms Units Feet AMI% Rent Rents Rents 1.0 1.0 5 440 30% $388 1.0 1.0 5 528 30% $388 l .O 1.0 55 440 60% $777 1.0 1.0 34 528 60% $777 1 .0 1.0 1 528 60% So 1.0 1.0 8 666 30% $388 1.0 1.0 67 666 60% $777 2.0 2 .0 1 900 30% $466 2 .0 2 .0 9 900 60% $933 3 .0 2 .0 1 1082 30% $539 3 .0 2 .0 4 1082 60% $1,078 3.0 2.0 4 1212 60% $1,078 3 .0 2.0 6 1214 60% $1 ,078 200 124012 Homeless : No Family: No RD/HUD Utility Cont NetHC Allow Rents Rent $56 $721 $332 $56 $721 $332 $56 $721 $721 $56 $721 $721 So $0 $58 $330 $58 $719 $68 $398 $68 $865 $75 $464 $75 $1,003 $75 $1 ,003 $75 $1,003 Garden Style Apartments ELI :~ Units @ Link: 10 Units Applicant Appraiser Rents Rents $721 $721 $721 $721 $721 $721 $721 $721 so $721 $330 $330 $719 $719 $398 $398 $865 $865 $464 $464 $1,003 $1,003 $1,003 $1,003 Sl,003 $1 ,003 30% AMI Annual Rental CU Rents Income $721 $43 ,260 $721 $43,260 $721 $475,860 $721 $294,168 $0 $0 $330 $31,680 $719 $578,076 $398 $4,776 $865 $93,420 $464 $5,568 $1,003 $48.144 $1 ,003 $48,144 $1 ,003 $72,216 $1,738,572 There is one manager's unit in the 100 units tower to be rehabilitated . NORTHWEST GARDENS V PAGE A-1 JULY 23, 2015 96 ATLANTIC ~.._PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Non -Residenti al -0 Buildings : Residential -7 --------------Parking : Parking Spaces -_1_54 __ _ Access i b I e Spaces -14 Set Asides : Program % of Units #of Units %AMI Term (Years) HC 100.0% 200 60% 30 SAIL/ELI 10.0% 20 30% 30 SAIL 90.0% 180 60% 30 As required by the Federal Fair Housing Act (the "Act"), at least 80% of the total units will be rented to residents that qualify as Elderly pursuant to the Act. All proposed developments with the demographic commitment of Elderly non -ALF must set aside 50% of the required ELI set-aside units for Special Needs Households and develop and execute a Memorandum of Understand i ng with at least one Special Needs Household Referral Agency for the county where the proposed development will be located . Absorption Rate 20 units per month for 10 ---- Occupancy Rate at Stabilization: Physical Occupancy Occupa n cy Comments DDA?: Yes "I QCT?: Yes "I Site Acreage : 7.6885 "I Densi ty : ' 26 .0129 Zoning : RMM-25 and RM-15-NW Regional Activity Center NORTHWEST GARDENS V months . 93.00% Economic Occupancy Flood Zone Designation : Flood Insurance Required?: JULY 23 , 2015 ,. 89.6% AE Yes PAGE A -2 97 SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT I I! 1:1,1 :! 1,1 LllT1!:hll r'J~ Applicant/Borrower: Northwest Properti es V, Ltd . General Partner 1: APC Northwest Prooertl es V LLC l"APC-NWV"l_ General Partner 2: HEF-700 Inc . ("HEF-70 Q") General Partner 3: ----·--- General Partner 4: General Partner 5: The Howard D. Cohen Revocable Trust U/A/D 4/16/1993 ("HDC Trust") and/or Limited Partner 1: assirms to be reel aced bv Bank of Amer i ca Merri 11 Lvnc h Limited Partner 2: Limited Partner 3: Special Limited Partner : Banc of Ameri ca CDC Soeclal HoldinR: Comoanv, Inc. Construction Campi eti on --·------ Guarantor(s): Northwest Properties V, Ltd . APC-NWV APC Northwest Prooerties V Develoornent LLC l"APC-Dev"l HDC Trust Howard D. Cohen Kenneth J. Cohen ~D.Cohen Operating Deficit Guarantor(s): Northwest Pro12ert i es V L:td . -APC-NWV ---. f'.PC-DeL -- HD CTrug Howard D. Cohen Kenneth J. Cohen Sta nl ev D. Cohen Pvt Placement Purchaser: Bank of America Merrill Lvnch ("BOAML"l Developer : APC-Dev Principal 1 Atlantic Pacifi c Commun i t i es LLC {"APC''\ Principal 2 Principal 3 Pri nci pa I 10 Co-Devel aper: HEF-Dixi e Court Devel ooment LLC l"HEF-Df xi e"l Principal 1 Housing Enterorises of Fort Lauderdale Florida, Inc. ("HEF"l Princioal 2 NORTHWEST GARDENS V JULY 23, 2015 . ATLANTIC ..?.._PACIFIC SMG % Ownership 0.0049 % 0 .0051% - 99..9900 % 0 .0000% --- -- PAGE A-3 98 SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT . IJJ ~•1~ ••1~1'1 I ::11.~1 ~~ General Contractor 1: Atlantic Pacific Commun i ty Builder s, LLC ("APC-Builders ") General Contractor 2: Management Company : Atlantic Pacific Commun i ty Management, LL C (''APC-Mgmt ") Const. Credit Enhancer : Perm. Credit Enhancer: Syndicator: BOAML and /or affiliates Bond Issuer: Broward Countv Hous i nl!: Fina nee Autho ri tv ("BCHFA "l Architect: Zvscovich Inc . ("Zvscovich "l Market Study Provider: Meridian Aoo r aisal Grouo Inc. ("Meri dian") Appraiser: Meridian tmITT l'I f.!. Wf :I •.:.If Jtl'T!h'•.!11'.~ I \!li.!m.ue; Ul!l\!J 1st Source 2nd Source 3rd Source 4th Source Lien Position First Second Third Fourth Lender /Gra ntor BCHFA FHFC/SAIL FHFC/ELI HACFL Amount $6,500,000 $4,960,000 $1,500,000 $3 ,500,000 Underwritten Interest Rate 5 .49% 1.00% 0.00% 0 .00% All In Interest Rate 5.49% 1.21% 0.19% 0.00% Loan Term 15.0 15 .0 15.0 30 .0 Amortization 35 Market Rate/Market 28.6% 50.5% 57.1% 72.5% Financing LTV Restricted Rent/Fa vora bl e 68.8% 121.3% 137.1% 174.2% Financing LTV Loan to Cost 22 .8% 17.4% 5 .3% 12.3% Debt Service Coverage 1.402 1.226 1.201 1.201 Opera ting/Deficit $381,244.00 Service Reserve Period of Operating Expenses/Deficit 4 Reserve in Months NORTHWEST GARDENS V JULY 23, 2015 5th Source 0 $0 0 .00% 0 .00% 0 Other ATLANTIC ~6.PACIFIC _, ...... 11 .. ~t 111- SMG 0 $0 0.00% 0 .00% 0 PAGE A-4 99 SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT Deferred Developer Fee $743,213.00 Land Value $5,000,000.00 As-ls Value (Rehabilitation) $6,825,000.00 Market Rent/Market Financing Sta bi Ii zed Va I ue $22,710,000.00 Rent Restricted Market Financing Stablized Value $7,600,000 .00 Rent Restricted Favorable Financing Stablized Value $9,450,000.00 Projected Net Operating Income {NOi)-Vear 1 $586,5 21.82 Projected Net Operating Income (NOi) -15 Vear $562,356.41 Vear 15 Pro For ma Income Esca I ati on Rate 2.00% Vear 15 Pro Forma Expense Escalation Rate 3.00% Bond Structure Fixed Rate Tax Exempt Bonds Housing Credit Syndication Price $1.12 Housing Credit Annual Allocation $1,06 7,8 51 Clhlf.."1t:us!lJ ~::..:.~··~~lLl[::l!~'lff....1!J!1il_m ATLANTIC ~._PACIFIC SMG Source Lender Construction Permanent Perm Loan/Unit First Mortgage BCHFA-MMRB (BOAML) $14,000,000 $0 $0 First Mortgage BCHFA-MMRB (MassMutual) $0 $6,500,000 $32,500 Second Mortgage FHFC -SAi L $4,960,000 $4,960,000 $24,800 Third FHFC -ELI $1,500,000 $1,500,000 $7,500 Fourth HACFL $3,500,000 $3,500,000 $17,500 HC Equity BoA $4,540,442 $11,351,105 $56,756 Deferred Developer Fee APC-Dev $40,407 $557,410 $2,787 Deferred Developer Fee HEF-Dixi e $13,469 $185,803 $929 TOTAL $28,554,318 $28,554,318 $142,772 Changes from the Application: COMPARISON CRITERIA YES NO Does the level of experience of the current team equal or exceed that of the team X described in the application? Are all funding sources the same as shown in the Application? 1 Are all local government recommendations/contributions still in place at the level X described in the Application? Is the development feasible with all amenities/features listed in the Application? 2 Do the site plans/architectural drawings account for all amenities/features listed in the 3 Application? Does the Applicant have site control at or above the level indicated in the Application? X Does the Applicant have adequate zoning as indicated in the Application? X Has the development been evaluated for feasibility using the total length of set-aside X NORTHWEST GARDENS V PAGE A-5 JULY 23, 2015 100 ATLANTIC ~ ... PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG committed to in the Application? Have the development costs remained equal to or less than those listed in the 4 Application? Is the development feasible using the set-asides committed to in the Application? X If the development has committed to serve a special target group (e .g. elderly, large X family, etc.), do the development and operating plans contain specific provisions for implementation? HOME ONLY: If points were given for match funds, is the match percentage the same as N/A or greater than that indicated in the Application? HC ONLY: Is the rate of syndication the same as or greater than that shown in the X Application? Is the development in all other material respects the same as presented in the 5 Application? The following are explanations of each item checked "No" in the table above: 1. The construction source of funds in the Application reflects a Wells Fargo Community Lending and Investment ("Wells Fargo") Letter of Intent ("LOI") for Tax-Exempt Multifamily Mortgage Revenue Bond financing ("MMRB") in the amount of $10,300,000 . The Borrower subsequently provided a Term Sheet from BOAML for construction MMRB financing in the amount of $14,000,000. Permanent financing in the Application reflects Wells Fargo MMRB financing in the amount of $3,470,407. The Borrower subsequently provided a term sheet from Cornerstone Real Estate Advisors LLC ("Cornerstone") as authorized agent for Massachusetts Mutual Life Insurance Company ("MassMutual") together with its subsidiaries for a $6,500,000 MMRB fixed rate first priority fee mortgage loan. A local government loan from Broward County in the amount of $121,000 was anticipated in the Application. Borrower has determined that the cost to administer this loan is prohibitive and will not close this local government loan . Borrower subsequently provided a commitment for a fourth mortgage loan from the Housing Authority of the City of Fort Lauderdale ("HACFL") in an amount not to exceed $3,500,000. 2 . On March 23, 2015 Borrower requested to replace the commitment to provide a full-size 30- inch range and oven in the 100 units to be rehabilitated with a 20-inch range and oven because it is not financially feasible to provide the full-size 30-in range and oven due to the size of the kitchen. The infeasibility of the full-size 30-in range and oven was confirmed by the consultant, GLE Associates, Inc. ("GLE 11 ), in the capital needs assessment ("CNA 11 ). NORTHWEST GARDENS V PAGE A-6 JULY 23, 2015 101 ATLANTIC ~ .. PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG 3. The CNA indicated the following committed features and amenities are not structurally and financially feasible in the units to be rehabilitated: a. Full size range and oven because there is only room for a 20-inch range and oven b. Cabinet drawer handles and cabinet door handles in bathroom and kitchen shall be lever or D-pull type handles in the bathrooms since the sinks are wall hung. c. Roll-out shelving or drawers in all bathroom vanity cabinets because the sinks are wall hung. d. Energy Star qualified dishwashers due to the size of the kitchen. e. Humidistats because they are not compatible with the existing HVAC units. f. Energy Star qualified roof coating because an Energy Star roof covering is provided on the existing roof. The roof was replaced in 2011 and was observed to be in satisfactory condition. g. Installation of daylight sensors, timers or motion detectors on all lighting attached to the building because existing timers are provided. h. If a bathtub/shower combination without a permanent seat is provided, grab bars shall be installed because they are already installed. i. Roll-out shelving or drawers in all bottom bathroom vanity cabinets because the sinks are wall hung. 4. The plans and specifications have not been "as permitted" signed and sealed and do not contain all of the features and amenities. 5. Development costs increased from $20,501,020 in the Application to $28,554,318 primarily due to increases in construction costs . a. On June 1, 2015, Borrower requested approval to expand the size of the Northwest Gardens V site. Due to additional land acquisitions by HACFL, Lot 38 in Block 273 and Lots 35 and 36 in Block 1 in Fort Lauderdale were added to the development site . According to the Borrower, the total number of units remained the same and the increase in the overall site did not change the Development Location Point nor did it reduce the total proximity points awarded during the scoring of the Application. A Surveyor's Affidavit was enclosed with the request. On July 2, 2015, FHFC Staff approved the Borrower's request. b . On February 12, 2015, Borrower requested a change in the unit split from 101 new construction units and 99 rehabilitation units as reflected in the Applications to 100 new construction units and 100 rehabilitation units . FHFC Staff approved the Borrower's request on February 19, 2015. c. On July 22, 2015, Borrower requested approval to change the unit mix from one hundred seventy-five (175) one-bedroom/ one bath units plus fifteen (15) two-bedroom/ two bath units plus ten (10) three-bedroom / two bath units as reflected in the Application to one hundred seventy-five (175) one-bedroom/ one bath units plus ten (10) two-bedroom/ two bath units plus fifteen (15) three-bedroom / two bath units . FHFC staff approved Borrower's request on July 23, 2015. NORTHWEST GARDENS V PAGE A-7 JULY 23 , 2015 102 ATLANTIC ~._PACIFI C -,o.,.,'1 ••••••- SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT These changes have no substantial material impact to the SAIL, ELI or HC recommendation for this development. SMG Does the Development Team have any FHFC Financed developments on the Past Due/Noncompliance Report? Florida Housing's Past Due Report dated June 30, 2015 reflects the following past due items: a. Dr. Kennedy Homes: TCEP -Owes $250 late fee for failure to submit the 2014 audited financials and Form SR-1 by April 30, 2015. b. Northwest Gardens I (Alan Apartments): TCEP -Owes $250 late fee for failure to submit the 2014 audited financials and Form SR-1 by April 30, 2015. c. Dixie Court Apartments: SAIL -Failure to submit copies of monthly statements for Taxes and Insurance and Replacement Reserve Escrow accounts. d. Dixie Court Apartments II: RRLP -Failure to pay 2014 Late Filing fees i/a/o $500. Florida Housing's Noncompliance Report dated June 30, 2015 does not reflect any items in noncompliance. Strengths: 1. The Principals are experienced in multifamily Affordable Housing. 2 . The Principals have the financial resources to develop, construct and operate the proposed development. 3 . The appraiser states that the subject's average market rent is 67% greater than the estimated average achievable rents. 4. The appraiser opines that occupancy is high and demand for the units in the subject's Primary Market Area ("PMA") appears prevalent. Therefore, it appears that there is more than adequate demand for the subject development in the current market environment. Issues and Concerns 1 . The July 10, 2015 Plan and Cost Analysis ("PCA") reflects that the following features and amenities are not included in the plans and specifications: a. Programmable thermostat in each unit b. Humidistat (shown in new construction units only) c. Energy Star qualified refrigerators (shown in new construction units only) d. 40 gallon electric water heater with a minimum .93 EF (included in new construction units only -the units to be rehabilitated have an existing boiler with 645,000 Btu/h 85% Et) e. Energy Star qualified ceiling fans with lighting fixtures in the bedrooms (shown in new construction units only) f. In unit air conditioning: minimum 14 SEER (provided in new construction units only -PTACs in existing building) NORTHWEST GARDENS V PAGE A-8 JULY 23, 2015 103 ATLANTIC ~~PACIFIC -t OW"''-~lttll- SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG g. Fifteen percent of all new construction units must have roll-in showers (only 14 of the 100 new construction units reflect a roll-in shower) h. In at least one of the kitchen's bottom or base cabinets, there shall be a large drawer that has full extension drawer slides Seltzer's recommendation is contingent upon receipt and satisfactory review of a final PCA reflecting all feasible features and amenities are included in the new construction and rehabilitation units. 2. The management agreement and management plan provide by the Borrower are unexecuted drafts with no dates. Seltzer's recommendation is conditioned upon receipt and satisfactory review, prior to loan closing of a final, fully executed and dated management plan and management agreement. Waiver Requests : None Other Considerations: None M itigating Factors: None Additional Information : 1. SMG has reviewed correspondence from HACFL indicating the 100 units in the 5-story tower are currently undergoing a Subsidy Layering Review (the "Review") with HUD in order to enter into a HAP contract with Northwest Properties V, Ltd . Upon completion of the rehabilitation HACFL will enter into a HAP contract for the 100 rehabilitated units which will set the rents at 60% AMI. This will increase the rents for ten (10) of the units from 30% AMI or less to 60% AMI. 2. Borrower has provided an unexecuted Fourth Amended and Restated Ground Lease Agreement that: a. Indicates the MMRB are issued by Broward County instead of Florida Housing b. change the term of the lease to expire on the date that is sixty-five (65) years from the commencement date that is the date that the Borrower (also known as the tenant) closes on its financing and the syndication of Housing Credits with respect to the development or other financing acceptable to Landlord and sufficient to fund the total cost of the development c. changed the ground rent to $2,200,000 Seltzer's recommendation is contingent upon receipt and satisfactory review of a fully executed Fourth Amended and Restated Ground Lease Agreement with terms consistent with this credit underwriting report. 3. Borrower submitted a May 27, 2015 request to Florida Housing for a twelve (12) month extension to the Northwest Gardens V SAIL and ELI Gap Loan closing date. The request was granted at the June 19, 2015 FHFC Board meeting. NORTHWEST GARDENS V PAGE A-9 JULY 23, 2015 104 ATLANTIC ~•PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG 4. Borrower submitted a draft Master Development Agreement between HACFL and APC for the development of Northwest Gardens V that indicates that the Co-General Partner (the "HACFL Affiliate"), will acquire the Managing General Partner's (the "Developer GP"), ownership interest at any time following the first to occur of (i) completion and stabilization; or (ii) two (2) years following the issuance of the first certificate of occupancy for the development (the "Change Date"). Stabilization is defined as (i) the completion of construction; (ii) leasing and occupancy of all units, and (iii) the release by lenders and investors of all completion and lease-up guarantees. At any time following the Change Date, the HACFL Affiliate may provide written notice to the Developer GP of its intent to acquire the Developer GP's interest in the Borrower. Upon such notice and receipt of approval of the Investor Limited Partner, the HACFL Affiliate will acquire the Developer GP's ownership interest in the Borrower in consideration of, and only upon, payment to the Developer GP of the amount of its capital account, repayment of any loans made by the Developer GP, and payment of any deferred developer fee then outstanding to the Developers. At the same time, the management of Northwest Gardens V will be transferred to HEF Management LLC. At such time, the HACFL and/or an affiliate of the HACFL, with approval from Florida Housing, the Investor Limited Partner and any other lenders. Seltzer's recommendation is conditioned upon receipt and satisfactory review of a fully executed Master Development Agreement. 5 . Borrower submitted a June 1, 2015 request to Florida Housing to expand the size of the Northwest Gardens V site due to additional land acquisitions by HACFL. Lot 38 in Block 273 and Lots 35 and 36 in Block 1 in Fort Lauderdale were added to the development site. The increase in the overall site neither changed the Development Location Point nor did it reduce the total proximity points awarded during the scoring of the application. A Surveyor's Affidavit confirming the Development Location Point was attached to the request. Staff approved the increase July 2, 2015. 6 . The Total Development Cost for Northwest Gardens V meets the limitation set forth in RFA 2014- 103. 7. Seltzer notes that there are several environmental issues involving the five sites including the subject rehabilitation site identified on the EDR report and the regulatory databases as a UST facility for maintaining a 250-gallon UST and various asbestos issues on at least three (3) of the five (5) sites. In addition, at least one (1) parcel of the twenty-five (25) parcels that comprise the four (4) new units construction sites does not appear to have been included in the Phase I Environmental Site Assessment Update ("ESA"). Please see Section C "Environmental Report" for details. 8 . Seltzer notes that Broward County has agreed that the only required features and amenities and resident programs are those committed by the Borrower in its Applications to Florida Housing Finance Corporation. 9. According to the Fort Lauderdale Zoning Administrator, the status of the zoning as legally non- conforming for the site containing the 100 rehabilitation units is based upon the entire original site and not the portion or the original site that is leased to the Borrower. NORTHWEST GARDENS V PAGEA-10 JULY 23, 2015 105 ATLANTIC _.,._PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG 10. Seltzer notes that it appears that the committed resident programs, literacy training and computer training need to be provided in the rehabilitated tower or off-site since the six (6) new construction buildings to be located on four (4) of the five (5) sites will not have any on -site common area features and amenities. Recommendation SMG recommends FHFC award SAIL second mortgage and SAIL/ELI third mortgage construction and permanent financing in the amounts of $4,960,000 and $1,500,000, respectively, plus an annual HC allocation of $1,067,851 for construction/permanent financing of Northwest Gardens V. Seltzer's recommendation is based upon the assumptions detailed in the Report Summary (Section A) and Supporting Information and Schedules (Section B) of this Credit Underwriting Report. The reader is cautioned to refer to these sections for complete information. This recommendation is only valid for six months from the date of the report. Prepared by: Wanda Greggo Credit Underwriter NORTHWEST GARDENS V Reviewed by: Cindy Highsmith Credit Underwriting Manager JULY 23 , 2015 PAGE A-11 106 ATLANTIC ~ .. PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Overview Construction Financing Sources i':r:..1.fiL."1:J-:i ....... ·,~~~ ~·~ ~ 1..--:JfT:i--:J-_, I -----.r.:mn .l•a1 :H I V.II -1 I l!Hlfl!fw:Tv. II I :11 t~'t. • II -:..Jn-1:.ff'Hw,,:.t. First M ortg age . -BCH.FA .~ Mrvl.R.B rn9AfV1~)_ -~10,3Q9LQQQ. . $_1~.Q OO ,_QQQ s14,g90 ,0001 3.41% $680,2~5 Second FHFC-SAIL $4 960 000 $3 ,648,624 $4,960 ,000 , 1.00% $.491600 Thi rd FHFC-ELI ~579,578 $1,109,881 $1500 OOO i 0.00% .. $0 ., Fourth HACFL $0 $1,103,414 $3,500,000 / 0 .00% $0 Fifth Broward Countv $121,000 $0 sol 0.00% $0 HC Equity BoA $4,540,442 $8,523 000 $4,540,4421 Deferr ed Developer Fee APC-Dev I $0 $0 $40 407; Deferred Developer Fee HEF-Dixie $0 so l $13,469 : Total I I $20,501,020 $28,384,919 1 $28,554,318 : $729,895 Tax Exem pt Bonds/First Mortgage Fi nancing Borrower applied for a tax-exempt MMRB loan to be issued by BCHFA for the construction financing of this development in the amount of $14,000,000 . Borrower submitted a term sheet dated April 10, 2015 from BOAML to provide construction financing through the bank's Special Bond Offering product ("SBO"), by purchasing no more than $14,000,000 in floating rate tax-exempt bonds issued through the BCHFA. The debt service on the bonds will be monthly interest-only payments at a floating rate until the date that is thirty (30) months after the closing date . During the construction and stabilization period, the SBO floating rate will be based on the LIBOR Daily Floating Rate + 2.00%. The all-in interest rate is currently estimated to be 3.41% which includes ongoing issuer fees, Trustee fees and servicing fees . The SBO will be a draw down bond. Take out permanent/amortization financing conditions must be acceptable to BOAML and may include a requirement for interest rate protection. It is anticipated that the complete terms of the purchase of the MMRB by the permanent investor will be reflected in a Bond Purchase Agreement to be executed by and among the Borrower, BOAML and the permanent Lender at the time of construction loan closing. Other Co nst r uctio n/Sta biliza t ion Phase So urces o f Fu nds Additional sources of funds during the construction period include a FHFC SAIL Program loan, an ELI Gap loan, a loan from HACFL, and HC Equity available during the construction period in the amount of $4,540,442. To balance the Sources and Uses of Funds during the Construction/Stabilization Phase, the developer must defer developer fee in the amount of $53,876 of which 25% ($13,469) must be deferred by the non-profit co-developer and the remaining 75% ($40,407) by the for-profit developer. Constru cti on/Stabilization Period A construction contract between Owner and APC-Builders anticipates achieving Substantial Completion of the six (6) new residential bu i ldings within 390 days (13 months). A second construction contract between Owner and APC -Builders anticipates achieving renovation of the 5-story tower in 300 days (10 months). A Production Schedule for the construction of the new residential buildings projects NORTHWEST GARDENS V PAGE A-12 JULY 23, 2015 107 ATLANTIC ~ ... PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG demolition of the current improvements to begin in September 2015, with construction completion expected in November 2016 . Meridian's May 12, 2015 Market Study reflects an absorption rate of 20 units per month considering the timing of the rehabilitation and the construction of the new units. Stabilization at a 93% Occupancy Rate including 5% physical vacancy and 2% collection loss should be reached in September 2017. For purposes of this credit underwriting, SMG assumes a 30-month Construction/Stabilization Phase as anticipated by the proposed Bond Purchase Agreement between the Borrower, construction lender and the permanent lender. NORTHWEST GARDENS V PAGE A-13 JULY 23 , 2015 108 ATLANTIC ~<1..PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Permanent Financing Sources BCHFA-MMRB (Mass Mutual) Second FHFC-SAIL I $4~_60,000 1.00% Third FHFC -ELI 1500 000 $1 ,500,000 $1,500,000 0.00 % 15 Fourth .HACFL $0 $3,500,000 0.00% 30 Fifth Broward Coun $121,000 $0 0 0.00% 0 0 HC E uity BoA $7,979,000 $11,364,000 $11,351,105 Def. De ~~lE,e,e ~ee APC-De v Def. Developer Fee HEF-Dixie $2,470,613 $0 $441,026 $147 009 _ $S57,410 1 ___ -- $185 803 Total $20,501,020 $28,412,035 $28,554,318 $467,962 Fir st Mortgage Financin g Borrower submitted a term sheet dated April 17, 2015 from Cornerstone as authorized agent for MassMutual together with its subsidiaries for a $6,500,000 tax exempt first mortgage permanent financing sourced from the sale to MassMutual of one or more tax exempt bonds from the construction lender, BOAML. Subsequent to approval of the investment for permanent financing by MassMutual, the complete terms of the purchase of the bond(s) will be reflected in a Bond Purchase Agreement executed by and among the Borrower, BOAML and MassMutual with the terms of the permanent first mortgage loan set forth in documents ancillary to the Bond Purchase Agreement. In addition to the requirements in the Bond Purchase Agreement, MassMutual's full fund i ng of the permanent first mortgage will be cont i ngent upon: (i) lien-free completion of the development in accordance with the Cornerstone approved plans and specifications; (ii) not less than ninety pe r cent (90%) of the units shall have been leased and physically occupied by residents who meet Borrower's leasing requirements as approved by MassMutual for at least the three (3) consecutive months immediately preceding the funding date (the "Lease-Up Threshold"); (iii) an average debt service coverage ratio ("DSC") of at least 1.20 to 1.00 for at least the three (3) consecutive months immediately preceding the funding date (the "Performance Threshold"); (iv) no material adverse occurrence. The funding date is defined as 30 months from the date of rate lock. Rate lock is the later of the date of the closing of the construction loan with BOAML or MassMutual's receipt of a fully executed Loan Rate Lock Letter between Cornerstone and the Borrower. If on the funding date, the property has achieved lien-free completion but has not met the Lease -Up or Performance Thresholds, three options will be ava i lable to the Borrower: (a) a six (6) month extension; (b) funding at a reduced amount by sizing the loan to a 1.20 DSC; or (c) full funding with a one-year letter-of-credit for the unsupported loan amount. Pricing is subject to change at any time based on market conditions until rate lock. Also, the forward cost is calculated daily by MassMutual and will fluctuate based on several factors including the steepness of the yield curve . Monthly principal and interest payments will be due based on a fixed interest rate equal to the greater of 4.25% or the sum of the 10-year U.S. Treasury rate plus the term spread in basis points plus the cost NORTHWEST GARDENS V PAGE A-14 JULY 23, 2015 109 ATLANTIC _.,.._PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG of a forward rate lock plus the rate premium for the ability to take down 5% less in loan proceeds than the rate locked loan amount. For credit underwriting purposes, the rate is currently estimated to be 5 .49%. The loan term will be fifteen (15) years from the Funding Date with a 35 year level amortization schedule. The MassMutual loan will be secured by a first mortgage Loan on the subject development and a first security interest in a·11 personalty. Tax, insurance and replacement reserve escrow accounts will be required. Currently, it is estimated that $7,500,000 in MMRB will be redeemed at or prior to conversion to permanent financing. SAIL Borrower applied to Florida Housing's RFA 2014-103 for SAIL funds in the amount of $4,960,000 . The SAIL will be co-terminus with the first mortgage loan . Therefore, the entire SAIL term will be 17 .5 years. The term of the SAIL permanent period will be 15 years . The SAIL will be non-amortizing and will bear 1% simple interest per annum plus annual payments of applicable fees for an all-in rate of 1 .21% which includes a Servicing Fee equal to 0.20% and a Compliance Fee equal to .01%. Payment on the loan shall be based upon development cash flow . Any unpaid interest will be deferred until cash flow is available . At the maturity of the SAIL, all principal and unpaid interest will be due. ELI Loan All Borrowers who submitted an Application for RFA 2014-103 are also eligible for ELI gap funding for ELI set-aside units not t o exceed 10% of the total units for Applications with an Elderly demographic commitment. The demographic commitment for the subject is Elderly . The ELI Loan is in the form of a forgivable loan in an amount of $1,500,000. The ELI AMI for Broward County is 30%. The Borrower committed to set side 10% of the units (20 units) at or below 30% AMI. The ELI units are distri buted across the unit mix on an approximate pro -rata basis . The ELI loan is non-amortizing at 0.0000% simple interest per annum plus annual payments of applicable program fees at the rate of 0.19%, comprised of a Servicing Fee of 0.18% and a Compliance Monitoring Fee of 0.01% annually. The principal is forgivable at maturity provided the units for which the ELI loan amount is awa r ded are targeted to ELI Households for the duration of the 30 year Compliance Period . However, after 15 years all of the ELI set-aside units may convert to serve residents at or below 60% AMI. All proposed developments with the demographic commitment of Elderly non -ALF must set aside 50 % of the required ELI set-aside units for Special Needs Households and develop and execute a Memorandum of Understanding with at least one Spec ial Needs Household Referral Agency for the county where the proposed development will be located . The entire loan term of the ELI loan is 17.5 years and is co-terminus with the loan te r m of the first mortgage loan. The ELI permanent loan term is anticipated to be 15 years. HA CFL Mo rtgage Borrower submitted a commitment dated April 9, 2015 from HACFL for a loan in a pri ncipal amount not to exceed $3,500,000 for the construction and rehabilitation of the development. The funds will be NORTHWEST GARDENS V PAGE A-15 JULY 23, 2015 110 ATLANTIC ~&.PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG from a non-Federal source. The loan will be for a total loan term of 30 years including up to a 36 month construction loan period. Interest will be at 0.00% with all principal due at maturity. HC Equity The Applicant has applied to Florida Housing to receive 4% Housing Credits directly from the United States Treasury in conjunction with tax -exempt bond financing. An April 29, 2015 term sheet from BOAML is summarized as follows: ls t I n s ta 11 me n t $2 ,270 ,221 20.0% Clos in 2nd Installment $2 ,270 221 20 .0% 50% co nstruction com letio n 3rd Installment $3,972,887 35 .0% Construction com letion 4th Installment $2 ,270,221 20 .0% Stabilization and conversion to 5th I n s ta 11 me n t $567,sss l 5% Form 8609 Total $11,351,105 100% Annual Tax Credits per Syndication Agreement: Total HC Syndication: Syndication Percentage (limited partner interest): $1,013,593 $10,134,916 99.990% $1.120 $4,540,442 Calculated HC Exchange Rate (per dollar): HC Equity Proceeds Available During Construction : Deferred Devel op er Fee ermanentfinancin In order to balance the sources and uses of funds during the permanent loan period, the Developer will have to defer Developer fee of $743,213 for payment after all loan proceeds and HC equity capital contributions have been received. Since developer fee is apportioned 25% to the non-profit co- developer, HEF-Dixie, and the remaining 75% to the co-Developer APC-Dev, deferred Developer fee has been apportioned accordingly. NORTHWEST GARDENS V PAGEA-16 JULY 23, 2015 111 A T LANTIC ~._PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Uses of Funds -------.. . ' . ~' : 'ill l(ltCm1...,jf:.f. r-:lf]k•••'-.l.."1.5,..""RI f!l• t111-,:1u••••~11..-. ------E!Ii.1 I••· I • 11 ••■L"'1,..;_1 I f':•■11:UL"I.L""Elr ■■r ~ - Accessorv Buildings DemolitiolJ__ _____ ----,. $2z_6 ,Zj_5 _ _$1.,384 ~276,745 Install ati on of Pre Fab Uni t s -----------·-·-----· -----·--- New Rental Units $8,605,583 $13,918,064 $12,439,700 $62,199 Off-Sl te Work Recreational Ameniti €_~ _ ----$375,0_QQ__ ----. -· ------- Rehab of Exi st i ng Commo n Area s Re hab of Existi ng Re ntal Units $990 000 $1 201 619 $6,008 . Site Work Sw i mmi n g Poo l Ge ne ra l Conditions $835,084 $835 083 $4,175 Overhead $278,361 $278,360 $1 392 Profit $1,389,629 $835,084 $835 ,083 $4,175 Build er's Risk Insurance I I I General Lia bi litY. Insurance I I Pa vm e nt and Performance Bond s I ·7 Fu r n iture , Fi xtu re, & Eq ui pmen t Total Con struction Contra ct/Costs $11,360,213 $15,866,593 ' $15,866,590 ' $79,333 $276 745 Ha rd Cost Cont ingency $676,000 $793,330 $793 ,329 $3,967 Fees for LOC used as Construction Surety l Other: Recre at i ona l/Owner Items I $375,000 $375,000 $1,875 $27,500 Other: GC Gen era I Lia bilitv l nsu ra nee I $104,385 $104,385 $522 - Sln~-$870 ·-Other: Pa yment and Performance Bonds $173,976 Total Construction Costs: $12,036,213 $17,313,284 $17,313,280 l $86,566 $304,245 I Notes to the Actual Construction Costs: 1. Applicant provided a co nst ruction co ntract for new constructio n between Applicant and AP C- Builders date d July 7, 20 15 in the am o u nt of $14,49 6,745. The contract is a St and ar d Fo rm of Agreement between Owner and Contractor whe re the basis of paym en t is a Stip ula ted Su m and includes General Conditions, Drawings and Addenda named therein whether or not attached thereto. The contract includes all new construction hard costs and contractor's fees . The contract provides for retainage of 10% until 50% completion at which time retainage will be reduced to 0% if agreed upon in writing by Applicant and APC-Builders and consented to by all lender(s) and the general contractor's surety. Final payment will be made when the contract has been fully performed and within 90 days of the Architect's final Certificate for Payment. The contract requires substantial completion of the new construction not later than 390 days from the date of commencement. The date of commencement will be fixed in a Notice to Proceed to be issued by the Owner. NORTHWEST GARDENS V PAGEA-17 JULY 23, 2015 112 ATLANTIC _.,._PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG 2. Applicant provided a second construction contract (the "rehab-contract") for the rehabilitation of a five (5) story tower containing 100 units for elderly and located at 100 SW 18th Avenue, Fort Lauderdale, Florida 33312. The rehab-contract dated July 7, 2015, is between Borrower and APC- Builders in the amount of $1,369,845 . The contract is a Standard Form of Agreement between Owner and Contractor where the basis of payment is a Stipulated Sum and includes General Conditions, Drawings and Addenda named therein whether or not attached thereto . The contract includes all rehabilitation hard costs and contractor's fees. The contract provides for retainage of 10% until 50% completion at which time retainage will be reduced to 0% if agreed upon in writing by Applicant and APC-Builders and consented to by all lender(s) and the general contractor's surety. Final payment will be made when the contract has been fully performed and within 90 days of the Architect's final Certificate for Payment. The contract requires substantial completion of the new construction not later than 300 days from the date of commencement. The date of commencement will be fixed in a Notice to Proceed to be issued by the Owner. For credit underwriting purposes, all amounts have been rounded down to the nearest whole dollar. 3. Other: Recreational/owner Items include but are not limited to costs for Coin operated washers and dryers, signage, computers, golf carts, security, access control, and site furnishings. The HC Ineligible Costs -CUR are the anticipated costs of the washers and dryers that will be available to rent for 25 of the new construction units. 4 . The General Contractor Fee includes General Conditions of $835,083, Overhead of $278,360 and Profit of $835,083, which collectively total 14.0%, which is within the maximum allowed, of the Construction Contracts less the General Contractor Fee, itself. 5. GC General Liability Insurance and Payment and Performance Bonds premiums will be paid by the Borrower outside of the general construction contracts. 6. A Hard Cost Contingency of $793,329 is within 5.00%, which is within the maximum allowed, of the amounts of the total Construction Contracts. 7 . SMG received and reviewed a July 10, 2015, PCA by GLE . Seltzer notes that the PCA does not include a cost analysis of the July 7, 2015 general construction contracts which included increased costs . Seltzer's recommendation is based upon receipt and satisfactory review, prior to loan closing, of a final complete PCA reflecting an analysis of the costs of the July 7, 2015 fully executed general construction contracts . For a full discussion, see Plan and Cost Review within Section C of this credit underwriting report for further information. NORTHWEST GARDENS V PAGE A-18 JULY 23 , 2015 113 ATLANTIC � .. PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG l!C" :ii'l:J!J.•1Utl:All:tl1I� 81.'11..� Accounting Fees .,L\Doraisal Architect's and Planning Fees Architect's Fee -Green Initiative Architect's Fee-Landscaoe Architect's Fee -Site/Building Design Architect's Fee -Supervision Building Permits Builder's Risk Insurance I Ca Qi ta I �ds �ment/Rehagi.!.!ta!!_cl_!! I-Demolition paid outside Const Contract I Eniaineerinl! Fees I Environmenta I Reoort l Federal Labor Standards Monitorin� I FF&E oa id outside Construction Contra ct FHFC Administrative Fees FHFC Aoplication Fee FHFC Credit Underwriting Fee FHFC HC Comolia nee Fee (HCl FHFC Other Processing Fee{s) Im act Fee -- Lender Inspection Fees /Const Ad min Green Bull ding Cert. {LEED, FGBC, NAHB) Home Energy Rating:?_Y.stem (HERS} Insurance Legal Fees Local Subsidy Underwriting Fee ,---- Ma_rket Stu�t.. Ma rketinl! and Advertising Pian and Cost Review Analysis Prooertv Taxes Soil Test Stabilized Ooerating Exoenses/Reserve Surve Tenant Relocation Costs------ Title Insurance and Recording� ----· - I I ' ' I Traffic Study ' ' �illty.fon�ection Fees ----- Soft Cost Conting�n0cy ___ -- Other: DRC/Site Plan App Fee Total General Development Costs: I NORTHWEST GARDENS V , .. I I • �L"'I i�"'I $40,000 $16,000 $300 000 $100,000 $625,000 $138,963 $65,000 $40,711 $6,500 $16,886 $181,177 $454,500 $125,000 sso 000 $49,320 $400,000 - _S1SA!9E $100,000 $141.538 $12 000 $35,000 I I .., :.1'"''.Jllt:lllii,._'1 I!{• • H ... "1i::I 1(1}�•••,1,.-,sc 19'1 • $40,000 $40,000 $6,250 $6,250 $551 820 SSjl,820 $121,330 $121,330 $257 ,543 $257,543 $158,666 $158,666 ---- $239,975 $239,975 $50,195 $53,412 ... $70,600 $70,600 $16,88 6 $16,886 $141,790 $141,790 $74,036 $74,036 $141,8 25 $141,825 $106,000 $106 000 $500,000 $500,000 -. --.. � $200 $31 $2,759 $607 $1 288 $793 ·-- $1,200 $267 $353 $84 $709 $370 $709 $530 $2,500 -- $34 __ $6,875 l _ f6.87s_I $34.soo ,__ -$34,500 $173 $136,600 $136,525 $683 $9,874 $9,874 $49 $85,354 l $85,354 $427 : $47,060 I $47,060 $235 I , lral a,L·h:rit41.!l!I ·- $170,000 I $53,412 $70,600 l I $141,790 � $26,250 -- $34,500 $136,525 $85,354 I - ---------_,_ ----$179,435 $2611 272 j .J.3.§l,272 $1,306 $130 636 I' 1· I �49 ,70p_J..}�_;,;�-�.; ......S!21,.§� _ $624 -j $157,229 $7�---$9,880 $9,880 $49 $3,341,729 l $3,350,410 $3,353,552 $16,768 $849,067 PAGE A-19 JULY 23, 2015 114 ATLANTIC ��PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Notes to the General Development Costs: 1.Applicant applied to FHFC for 4% HC; Ineligible Costs associated with HC are reflected in the above schedule. 2.Appraisal cost includes reports engaged directly by SMG as well as the cost of a final update once construction and rehabilitation have been completed. 3.Building Permits includes the actual cost of permits. 4.Engineering fees are included in the Architect Fee -Site/Building Design. 5.Environmental Report includes $170,000 for Asbestos Abatement during demolition of the buildings on the sites where the 100 new units will be constructed plus $40,000 for soil removal and replacement due to the presence of Arsenic, Benzo(a)Pyrene and equivalents at levels which exceed the allowed amounts at the sites of the new construction after the demolition is completed. 6.FHFC Administrative Fee is based upon 5% of the recommended annual allocation of HC for non profit entities receiving at least 25% of developer fees. 7.FHFC Application Fee is reflective of the 2014 HC Application Fee and the SAIL/ELI Application Fee plus $64,600 to extend the SAIL/ELI closing date for 12 months. 8.FHFC Underwriting Fee of $16,886 represents $12,790 for SAIL/ELI Loan underwriting and $4,096 for the 4% HC credit underwriting. 9.FHFC Compliance Fee is based upon Florida Housing's schedule for 2015 based upon 200 Rent Restricted Units set aside for 30 years for the 4% HC. 10. Lender Inspection Fees include the fees for blower door tests, the physical needs assessment and plan and cost analysis along with the monthly building inspection fees. 11.Borrower anticipates that rehabilitation of the 100 units will occur with residents in place. Therefore, no tenant relocation costs are anticipated. 12.Soft Cost Contingency has been limited to 5% of General Development Costs. 13.Other: DRC/Site Plan App Fee is the fee for site plan approval by the City of Fort Lauderdale for the new construction. 14.Other General Development Costs are based upon Applicant's estimates, which appear reasonable at this time. NORTHWEST GARDENS V PAGE A-20 JULY 23, 2015 115 SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT --, ll1r11 · ~ ATLANTIC ~._PACIFI C SMG 1a1-•ft : .. H•~•.ir:1 '!t tlU, l~'f.'.J:1-.-,•,l.li."'U,,,'"AI J• C I ll •oL,L~ -~.--;;. ~ I• • • . • r;, ••• -- Construction Loan Aoo l ication Fee I Constru ction Loan Unde rwriting Fee I I $103,00£ Construction Loan Originati on Fee I $140,000 $140,000 $700 Constructi on Loan Commitment Fee Construction Loan Closing Costs I $30,900 I $42,000 I $42,000 $210 Construction Loan Interest I $657,063 I $563 ,634 $729 895 $3 ,649 $308,502 Construction Loan Servi cine Fees . I I I Permanent Loan Application Fee $3,500 $3 ,500 $18 $3 500 Permanent Loan Underwriting Fee Per_!llanent Loan Subsidy la ering Review ·-,_._ ------, -- Permanent Loan Commitment Fee $48,750 $48,750 $244 $48,750 P'ermanent Loan Or iei nation Fee I $34,704 I Permanent Loan Closing Costs I $10,411 $19,500 $19,500 $98 $19,500 Permanent Loan Interest I I ·--I Permanent Loan Servici ng Fee FHFC Bond Rating Fee I I I I ... FHFC Bond Closing Costs (COi) $305,770 $240,750 i $240,750 $1,204 $240,750 FHFC Bond Interest I FHFC Bond Servicing Fee I Loca I HFA Bond Aoolication Fee I I $5,500 $5,500 $28 $5,500 Lo cal HFABond Underwriti ng Fee I I $13 749 I $13 749 569 Local HFABond Subsidy Layering Review I Local HFA Bond Oriei nation Fee Local HFA Bond Comm itment Fee I ·- Loca I HFA Bo nd Trustee Fee I Local HFABond Credit Enhancement Fee I _local HFABond caiii tallied Issuer Fee -~--------$33,740 --4 _ili ,740 $169 --- Local HFABond Closing Costs I ' SAIL Underwriting Fee I I ; SAIL Or iei nation Fee t ! : ' $49,600 I 549 600 $248 SAIL Commitm ent Fee I SAIL Closing Costs SAIL Interest t SAIL Servicing Fee I Reserves -ACC Reserve I -~ ·---+---I -------7 ----, -- Reserves -Opera ti ng Deficit $815 553 $381,244 $381,244 $1,906 $381,244 Reserves -Worki ng Capita I Reserves -Reauired bv Svndicator i I I Reserves -Required by FHFC I . Reserves -Reola cement Escrow l _ Othe r : Cagitalized l_~~er F~e __ . $33,740 7 _$33,740 $169 __ $~~1?.4.Q. ---- Other : ELI Gap lo~ Coi:!lml tment Fee ----~-~ _ _$1 5 ,0D0 _ ~5,000 ___j]5 ---- Other: FHFC Legal Counsel $19,200 $19,200 $96 Total Financial Costs: I . I $1,957,402 $1,609,907 I $1,776,168 $8,881 $1,041,486 NORTHWEST GARDENS V PAGE A-21 JULY 23, 2015 116 ATLANTIC ..16.PACI FI C SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Notes to the Financial Costs: 1. Construction Loan Origination Fee is 1% of the loan amount per BOAML. 2. Construction and SAIL loan interest and ineligible portion are based on the bonds and the SAIL loan proceeds being disbursed during the construction and rehabil itation period on a monthly basis for the maximum 30 month const r uction loan period. 3. Permanent loan application fee is the Cornerstone application fee. 4. Permanent loan commitment fee is based on the Cornerstone term sheet which reflects a commitment fee of 75 basis points on the permanent loan amount. 5. Permanent Loan Closing costs includes amounts for lender counsel and third party expenses. 6. Local HFA Bond Closing Costs {COi) includes the amounts for Bond and County Legal Counsel, and various BCHFA fees. 7. SAIL Commitment Fee is equal to 1% of the SAIL. 8. Reserves -Operating Deficit are consistent with the BOAML and Cornerstone term sheets and deemed appropriate by the credit underwriter. 9. Local HFA Bond Capitalized Issuer Fee is the initial issuer fee to be paid to BCHFA. 10. ELI Gap Loan Commitment Fee is 1% of the ELI Gap Loan. 11. Other: FHFC Legal Counsel includes anticipated SAIL and ELI Gap loan closing fees . Brokera e Fees -Bui I din Building Ac quis i t i on Cost/Lease ____ _ Other: -'----l--------~- Total Non -Land Acqu isiti on Co st s: $0 $0 so so $0 Notes to the Non -Land Acquisition Costs : None NORTHWEST GARDENS V PAGE A-22 JULY 23, 2015 117 ATLANTIC ~ .. PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG -.. l ■lt I •.Jdl.lJ•tf;Jli,."1 ~ ~ l(l11n~::1:1• J.U•""'·' .... ,,~M ■a:eL,"L"I f.:.1•1•11, ... :11 ·••L""IL'I F!l• ,111ar:1it1••1L-iil:-I i.rnir.1111:• , .. .•• ,.i......._-i_ ~· Development Cost Before Developer Fee and I ! Land Costs $17,335,344 $22,273,~0] $22,443,000 $112,215 $2,194,798 ----·-------- Deve loper Fee on AcQuisition ofBuildinl!.S I I Developer Fee I $2,965,676 I $3,911,318 $3,911,318 $19,557 Develooer Fee to fund Ooera tin Debt Reserve Other: Broke rage Fees -Land -- Consultant Fees Excess Acquisition Costs Excess Land Value I Gua~txFee~ i ----- Other: Total Other Development Costs ; 52,965,676 I $3,911,318 I $3,911,318 $19,557 $0 Notes to the Other Development Costs: 1. Developer Fees are within 18 percent of development cost excluding land and reserves, and as permitted by Rule 67.21 and 67-48.F.A.C. .. . ' IHff11:..1 '"·'" 1•~J.-iii1•~ • u:1.I_tll:..1 r•• 11111 •• l ■f 11.11i..:r.llf11,1 ■•ll..,.'-."1i f!.l"t I llllt': , ... "--~ ,_ ---l!l, u1, .. -:. :•; ~ .. -t 11:[11,f:l ■•,1,,..-,li."'lll""I• 11~• ..... t._ ... 11..~-l!I~, .. - Broke ra ~e Fees -Land i I I Land AcQuisition Costs I La nd Land Lease Pav me nt $200,000 $2 200,000 $2 200 000 $11 000 $2 200 000 Land Car rying Costs Other: I I I I I Total Acquisition Costs: $200,000 $2,200,000 $2,200,000 $11,000 52,200,000 Notes to the Land Acquisition Costs : 1. Applicant has provided a Fourth Amended and Restated Ground Lease Agreement that: a. Indicates the MMRB are issued by Broward County instead of Florida Housing b. change the term of the lease to expire on the date that is sixty-five (65) years from the commencement date that is the date that the Borrower (also known as the tenant) closes on its financing and the syndication of Housing Credits with respect to the development or other financing acceptable to Landlord and sufficient to fund the total cost of the development c. changed the ground rent to $2,200,000 2. The May 12, 2015, Meridian Appraisal concluded an "as is" land value of $5,000,000 for the subject development Site. TOTAL DEVELOPMENT COSTS: I $20,S0l,020 1 $28 ,384,919 s2s.ss4,31s s142,n2 I $4,394,798 NORTHWEST GARDENS V PAGE A-23 JULY 23, 2015 I I I 118 SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT Operating Pro forma ANNUAL PER UNIT Gross Pote nti a I Re nta I In come $1 738 572 $8,693 Rent Subsidy (ODR) $0 $0 Other Income : Anci 11 a ry Income-Parking $0 $0 Miscellaneous $12 000 $60 .... Washer/Dryer Ren ta Is $24,000 $120 ~ Ca bl e/Satel I ite Income $0 $0 0 u Rent Con c essions $0 $0 ~ Alarm Income $0 $0 Gross Potential Income $1,774,572 $8,873 Les 2__: _ --__., ---····•, Econom i c Loss -Percentaee : $0 $0 Ph vs i ca I Va can cy Loss -Percentage : 5.0% ($88,729) ($444) Co I I e cti on Loss -Percentage : 2.0% ($17,746) ($89) Tota l Effective Gross Revenue $1,668,098 $8,340 Fixed: I Ground Lease $0 $0 Sub-Ground Lease $0 l $0 Real Estate Taxes $144194 $721 Insurance $106,000 $530 - Other $0 $0 Variable : Mana eement Fee -Percentage : 6.0% $100 086 $500 Ill Genera I and Administrative $80 000 $400 .... Ill z Pavroll Expenses $178,096 1 $890 .... 0. $165,000 $825 X Uti Ii ti es .... Ma r ke ti ng and Advertising $0 $0 Main tena nce and Reoalrs $70,000 1 $350 Grounds Mai ntena nee and Lands ca Q_i ne. $300 $60,000 Resident Proe.ra ms -$01 $0 Contra ct Services $0 $0 Securitv $115,000 $575 0th er--$0 $0 _ _!l._e s e rve fo_r B~J21 a _ce rn _~ _n_ ts . t . ---. . $~~,]90 $316 Total Ex pense s I $1,081,576 $5,408 --· Net Op e rating..!!:!_come --~ $~8 6,~22 -·~· $],13] Debt Service Pavments First Mortga~e $418,362 $2 ,092 .... Second Mortgage $60,178 1 $301 u Third Mortl@_g_e _ $9,632 1 $48 5 er. _ Fourth Mortgjlge $0 .... __ $0 -- Ill Fifth M <?,!!g~g! ___ $0 1 2Q__ I---al .... _ Al I 01,i}_e r Mo_t1 g?_g~ s ... $0 $Q C ------ Other Fe es -$0 $0 Other Fees -Ag~Trustee/Servicer $0 $0 Tot al D e bt Service Pav m ents $488 172 $2,441 Cash Fl ow After D ebt Serv i ce $98,350 $492 NORTHWEST GARDENS V JULY 23, 2015 ATLANTIC _.,._PACI FIC SMG PAGE A-24 119 ATLANTIC ..,~PACIFIC _, ..... \I .. ., .. ,_ SAIL , ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Debt Service Cove rage Ratios DSC-First Only (incl . Negative Arbitrage ) 1.402 DSC -First and Second 1.226 DSC-Firs t, Second and Third 1.201 DSC -First, Second, Thi rd, and Fourth 1.201 ·- DSC -Fl rs t , Second Th i r d Fourth a nd Fifth 1 .201 DSC-All Other Mortl!aite s 1.201 DSC-All Mortgal!es and Fees 1.201 Financial Ratios l Operating Ex pense Ratio I 64.8% Break-Even Ratio I 88.5% Notes to the Operating Pro Forma and Ratios : 1. The SAIL/ ELI Gap programs do not impose any rent restrictions . However, this development will be utilizing HC in conjunction with the tax exempt bond financing, which will impose rent restrictions. The subject is projected to achieve 2015 Maximum Allowable HC Rents published by Florida Housing on all units based upon the appraiser's estimate of achievable rents per the comparables surveyed. However, the rents utilized herein for the 100 units located in the 5-story tower that will be rehabilitated are based upon the May 6, 2015 commitment from HACFL indicating that upon completion of a Subsidy Layering Review by HUD which is estimated to be completed in August of 2015, HACFL will enter into an AHAP agreement for these units. Under the AHAP agreement, rents for all 100 units will be set at 60% AMI. These rents are documented in the HACFL commitment. Upon completion of the rehabilitation of the 100 units, HACFL will enter into a HAP contract with the Borrower. Seltzer's recommendation is contingent upon receipt and satisfactory review, prior to loan closing, of a fully executed AHAP agreement consistent with the assumptions of this report. There is currently one (1) manager/employee unit in the 5-story tower. Utilities are based upon Broward County Utility Allowance charts for garden apartments and mid-rise (5 or more stories) with the residents paying electric and the owner paying water, sewer, trash and pest control. The rent roll is shown below: NORTHWEST GARDENS V PAGE A-25 JULY 23, 2015 120 ATLANTIC ~&.PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG HMFA/County: Fort Lauderdale HMFA; Miami-Fort Lauderdale-Pompano Beach MSA/Broward County Low High RD/HUD Annual Bed Bath Square Gross HC HOME HOME Utility Cont Net HC Applicant Appraiser Rental Rooms Rooms Units Feet AMI% Rent Rents Rents Allow Rents Rent Rents Rents CU Rents Income 1.0 1.0 5 440 30% $388 $56 5721 $332 $721 5721 $721 $43,260 1 .0 1.0 5 528 30% $38 8 $56 $721 $332 $721 $72 1 $721 $43,260 1.0 1.0 55 440 60% $777 $56 $721 $721 $721 $721 $721 $475,860 1.0 1.0 34 528 60% $777 $56 $721 $721 $721 $721 $721 $294,168 1.0 1.0 1 528 60% So $0 $0 $0 $721 so So 1.0 1.0 8 666 30% $388 $58 $330 $330 $330 $330 $31,680 1.0 1.0 67 666 60% $777 $58 $719 $719 $719 $719 5578,076 2.0 2 .0 1 900 30% $466 $68 $398 $398 $398 $398 $4,776 2.0 2.0 9 900 60% $933 $68 $865 5865 $865 $865 $93,420 3.0 2.0 1 1082 30% $539 $75 $464 $464 $464 $464 $5,568 3.0 2 .0 4 1082 60% $1 ,078 $75 $1 003 51,003 $1,003 $1,003 $48,144 3.0 2 .0 4 1212 60% $1,078 $75 $1,003 $1.003 51,003 $1 ,003 $48,144 3.0 2.0 6 1214 60% $1,078 $75 $1,003 $1 ,003 51 .003 $1.003 572,216 200 124012 $1,738,572 2. SMG projects Miscellaneous Income (i.e., Application Fees, Cancellation Fees, Late Fees, Forfeitures, Vending and Other Income) at $5 per unit per month, which is consistent with Market Comparables and the Meridian Appraisal. 3. Washer/Dryer Rentals includes washer and dryer rental income from the 25 units that will have washer and dryer hook-ups. In addition, laundry income is included at $10 per unit per month for the remaining 175 units without hook-ups. 4 . A projected Vacancy Loss of 5.0% is supported by the Meridian Appraisal, with a Collection Loss Allowance at 2.0%. 5. Management Fees of 6% of Effective Gross Income are based upon the draft Property Management Agreement between Borrower and APC-Mgmt. 6. The cost of resident programs, if any, has been included in General and Administrative Costs . 7. Payroll expenses and marketing and advertising expenses are based on the Borrower's estimate and past performance of the HACFL properties. 8. SMG underwrites Replacement Reserves at $316 per-unit per-year, based on $300 per unit per year for the 100 newly constructed units plus $331.37 per unit per year for the 100 rehabilitated units as required by GLE in the capital needs assessment. 9. Other Operating Expense projections are based upon Market Comparables, which are supported by the Meridian Appraisal. 10. A 15-year Income and Expense Projection reflecting income line items increasing at 2.00% per year and operating expense line items increasing at 3.00% per year is attached to this credit underwriting report as Exhibit 1. NORTHWEST GARDENS V PAGE A-26 JULY 23, 2015 121 SMG Section B Loan Conditions HC Allocation Recommendation and Contingencies JULY 23, 2015 ATLANTIC ~ .. PACIFIC 122 ATLANTIC ~ ... PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Special Conditions Seltzer Management Group, Inc. ("SMG" or "Seltzer") SAIL recommendations are contingent upon review and approval of the following items by SMG and FHFC at least 30 day s prio r to loan closing . Failure to receive approval of these items within this time frame may result in postponement of the closing date. 1. A final PCA reflecting all feasible features and amenities are included in the new construction and rehabilitation units and an analys is of the construction costs and construction schedules as reflected in the most recent. Fully executed and dated construction contracts for new construction and rehabilitation. 2. A fully executed Fourth Amended and Restated Ground Lease Agreement with terms consistent with this credit underwriting report. 3. A fully executed Master Development Agreement. 4 . A fully executed AHAP agreement consistent with the assumptions of th is report. 5. A revised ESA from HAI or a signed certification from HAI identifying the correct parcel and advising of any RECs or other cond itions associated with that parcel and the add itional cost to mitigate those RECs or conditions. 6. An asbestos abatement plan for the remaining parcels that have asbestos contamination as reflected in the asbestos survey of the 4 sites for new construction at Northwest Gardens V. 7. Verification from FDEP and the EPGMD of closure of the tank removal from Sunnyreach Acres and verification of a no further action required status related to the former tank location; or an environmental insurance policy providing protection regarding the UST and its removal. 8. An abatement plan for the asbestos in the five-story building . 9. A final, fully executed Management Agreement and a written request from the Borrower that the selection of the management company, APC -Mgmt, for Northwest Gardens V is approved by FHFC Asset Management. Gene r al Conditi ons Seltzer's SAIL recommendations are contingent upon review and approval of the following items by SMG and FHFC at least 30 days pri o r to loan closi ng . Failure to receive approval of these items within this time frame may result in postponement of the closing date . 1. Borrower to comply w ith any and all recommendations noted in the GLE PCA for Northwest Gardens V. NORTHWEST GARDENS V PAGE 8-1 JULY 23 , 2015 123 ATLANTIC ...t._PACIFIC -~0 .... 11 ,.,1 ,tt- SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG 2. Signed and sealed survey, dated within 90 days of closing, unless otherwise approved by FHFC and its legal counsel, based upon the particular circumstances of the transaction. The Survey shall be certified to FHFC and its legal counsel, as well as the title insurance company, and shall indicate the legal description, exact boundaries of the subject development, easements, utilities, roads, and means of access to public streets, total acreage and flood hazard area, and any other requirements of FHFC. 3. Building permits and any other necessary approvals and permits (e.g., final site plan approval, water management district, Department of Environmental Protection, Army Corps of Engineers, Department of Transportation, etc.). Acceptable alternatives to this requirement are receipt and satisfactory review of a letter from the local permitting and approval authority that the above referenced permits and approvals will be issued upon receipt of applicable fees (with no other conditions), or evidence of 100% lien-free completion, if applicable. If a letter is provided, copies of all permits will be required as a condition of the first post-closing draw. 4. Final Sources and Uses of Funds itemized by source and line item, in a format and in amounts approved by the Loan Servicer. A detailed calculation of construction interest based upon the final draw schedule (see below), documentation of the closing costs, and draft loan closing statement must also be provided. The Sources and Uses of Funds schedule will be attached to the Loan Agreement as the approved Development Budget. 5. A final Construction Draw Schedule showing itemized sources and uses of funds for each monthly draw. The closing draw shall include appropriate backup and ACH wiring instructions . 6. During construction / rehabilitation, the developer is only allowed to draw a maximum of 50% of the total developer fee , but in no case more than the payable developer fee, which is determined to be "developer's overhead". No more than 35% of "developer's overhead" during construction / rehabilitation will be allowed to be disbursed at closing. The remainder of the "developer's overhead" will be disbursed during construction / rehabilitation on a pro rata basis, based on the percentage of completion of the development, as approved and reviewed by FHFC and Servicer. The remaining unpaid developer fee shall be considered attributable to "developer's profit" and may not be funded until the development has achieved 100% lien-free completion, and retainage has been released 7. Evidence of general liability, flood (if applicable), builder's risk and replacement cost hazard insurance (as certificates of occupancy are received) reflecting FHFC as Loss Payee/Mortgagee, with coverages, deductibles and amounts satisfactory to FHFC. 8. If the development is not 100% lien-free completed at the time of initial SAIL Loan funding, 100% Payment and Performance ("P&P") Bonds or a Letter of Credit ("LOC") in an amount not less than 25% of the construction contract is required in order to secure the construction contract between the general contractor and the Borrower. In either case, Florida Housing must be listed as co-obligee. The P&P bonds must be from a company rated at least "A-"by A.M. Best & Co . with a financial size category of at least FSC VI. Florida Housing and/or legal counsel must approve the source, amount(s) and all terms of the P&P bonds or LOC. If the LOC option is utilized, the LOC must contain "evergreen" language and be in a form satisfactory to the Loan Servicer, FHFC, and its legal counsel. NORTHWEST GARDENS V PAGE 8-2 JULY 23 , 2015 124 ATLANTIC ...llf.._PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG 9. Architect, Construction Consultant, and Borrower certifications on forms provided by Florida Housing will be required for both design and as-built with respect to Section 504 of the Rehabilitation Act, the Americans with Disabilities Act, and Federal Fair Housing Act requirements, as applicable. 10. A copy of an Amended and Restated Limited Partnership Agreement reflecting purchase of the HC under terms consistent with the assumptions contained within this Credit Underwriting Report. The Amended and Restated Limited Partnership Agreement shall be in a form and of financial substance satisfactory to the Loan Servicer and to FHFC and its legal counsel. 11. Satisfactory resolution of any outstanding past due or noncompliance items. 12. Payment of any outstanding arrearages to the Corporation, its legal counsel, Servicer or any agent or assignee of the Corporation for past due issues applicable to the development team (Applicant or Developer or Principal , Affiliate or Financial Beneficiary, as described in 67-21.0025 (5) F.A.C. and 67- 48.0075 (5) F.A .C., of an Applicant or a Developer). 13 . At all times there will be undisbursed loan funds (collectively held by FHFC, the first lender and any other source) sufficient to complete the development. If at any time there are not sufficient funds to complete the development, the Borrower will be required to expend additional equity on development costs or to deposit additional equity with FHFC which is sufficient (in Florida Housing's judgment) to complete the development before additional loan funds are disbursed. This condition specifically includes escrowing at closing all equity necessary to complete construction or another alternative acceptable to FHFC in its sole discretion. 14. Final "as permitted" (signed and sealed) site plans, building plans and specifications . The geotechnical report, if any, must be bound within the final plans and specifications. Seltzer's recommendations are contingent upon the review and approval of the following items by FHFC and its legal counsel at least 30 days prior to loan closing. Failure to receive approval of these items within this time frame may result in postponement of the bond pricing date. For competitive bond sales, these items must be reviewed and approved prior to issuance of the Notice of Bond Sale. 1. Documentation of the legal formation and current authority to transact business in Florida for the Borrower, the general partner/principal(s)/manager(s) of the Applicant, the guarantors, and any limited partners of the Applicant. 2 . Signed and sealed survey, dated within 90 days of closing, unless otherwise approved by Florida Housing, and its legal counsel, based upon the particular circumstances of the transaction. The Survey shall be certified to Florida Housing and its legal counsel, as well as the title insurance company, and shall indicate the legal description, exact boundaries of the development, easements, utilities, roads, and means of access to public streets, total acreage and flood hazard area, and any other requirements of Florida Housing. 3 . An acceptable updated Environmental Audit Report, together with a reliance letter to FHFC, prepared within 90 days of closing, unless otherwise approved by FHFC and legal counsel, based upon the particular circumstances of the transaction. Borrower to comply with any and all recommendations noted in the Environmental Assessment(s) and Update and the Environmental NORTHWEST GARDENS V PAGE B-3 JULY 23, 2015 125 ATLANTIC ~~PACIFIC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Review, if applicable . 4. Title insurance pro-forma or commitment for title insurance with copies of all Schedule B exceptions, in the amount of the SAIL and ELI Gap loans naming FHFC as the insured . All endorsements required by FHFC shall be provided. 5 . Florida Housing and its legal counsel shall review and approve all other lenders closing documents and the limited partnership or other applicable agreement. Florida Housing shall be satisfied in its sole discretion that all legal and program requirements for the SAIL Program Loans have been satisfied. 6. Evidence of general liability, flood (if applicable), builder's risk, and replacement cost hazard insurance (as certificate of occupancy are received) reflecting Florida Housing as Loss Payee/ Mortgagee, with coverages, deductibles and amounts satisfactory to Florida Housing. 7. Receipt of a legal opinion from Applicant's legal counsel acceptable to FHFC addressing the following matters : a. The legal existence and good standing of the Borrower and of any partnership or limited liability company that is the General Partner of the Borrower (the "GP") and of any corporation or partnership that is the Managing General Partner of the GP, of any corporate guarantor and any manager. b. Authorization, execution, and delivery by the Borrower and the guarantors, of all Loan documents. c. The Loan Documents being in full force and effect and enforceable in accordance with their terms, subject to bankruptcy and equitable principles only. d. The Borrower's and the guarantor's execution, delivery and performance of the Loan Documents shall not result in a violation of, or conflict w ith, any judgments, orders, contracts, mortgages, security agreements or leases to which the Borrower is a party or to which the subject development is subject to the Borrower's Partnership Agreement. e. Such other matters as Florida Housing or its legal counsel may require. 8. Evidence of compliance with local concurrency laws. 9. UCC Searches for the Borrower and its partnerships, as requested by legal counsel. 10. Such other assignments, affidavits, certificates, financial statements, closing statements, and other documents as may be reasonably requested by FHFC or its legal counsel in form and substance acceptable to FHFC and its legal counsel, in connection with the loan(s). 11. Any other reasonable conditions established by FHFC and its legal counsel. Additional Conditions Seltzer's SAIL / ELI Gap program recommendations are contingent upon the following add itional conditions: NORTHWEST GARDENS V PAGE 8-4 JULY 23 , 2015 126 ATLANTIC ...at .... PACIFIC -,0 .... \1 .. 1 111 1 - SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG 1. Compliance with all provisions of Sections 420.507 and 420.509 Florida Statutes, Rule Chapter 67- 21, F.A .C., Sections 420.507 (22) and 420.5087, Florida Statutes, Rule Chapter 67-53, F.A.C., Rule Chapter 67-60, F.A.C., Rule Chapter 67-48, F.A.C., Section 42 I.R.C., RFA 2014-103 and any other State and Federal requirements. 2. Development and execution by the Borrower of the required Memorandum of Understanding ("MOU") with a designated Special Needs Household Referral Agency to assist Special Needs Households as outlined in Section Four A.5.b.(2)(c). of the RFA. 3. Acceptance by the Borrower and execution of all documents evidencing and securing the MMRB Loan and first mortgage Loan, SAIL and ELI Gap Loan in form and substance satisfactory to Florida Housing and its legal counsel, including but not limited to, the Promissory Note(s), the Loan Agreement(s), the Mortgage and Security Agreement(s), the Land Use Restriction Agreement(s), and Extended Loan Income Housing Agreement(s). 4. If MMRB, SAIL or ELI Gap funds are used for construction or rehabilitation, all amounts necessary to complete construction must be deposited with the Bond Trustee prior to Loan Closing, or any phased pay-in of amount necessary to complete construction shall be contingent upon an unconditional obligation, through a Joint Funding Agreement or other mechanism acceptable to Florida Housing, of the entity providing HC Equity payments (and evidence that 100% of such amount is on deposit with such entity at Loan Closing) to pay, regardless of any default under any documents relating to the HC as long as the first mortgage continues to be funded. 5. If applicable, receipt and satisfactory review of Financial Statements from all Guarantors dated within 90 days of loan closing. 6. Guarantors are to provide the standard FHFC Construction Completion Guarantee, to be released upon lien free completion as approved by the Servicer. 7 . Guarantors are to provide the standard FHFC Operating Deficit Guarantee to be released upon achievement of an average 1.15 DSC on the combined permanent first mortgage and SAIL, 90% Occupancy and 90% of Gross Potential Rental Revenue net of utility allowances, if applicable for a period equal to twelve (12) consecutive months, all certified by an independent Certified Public Accountant ("CPA "). The calculation of the debt service coverage ratio shall be made by Florida Housing or the Servicer. Notwithstanding the above, the Operating Deficit Guarantee shall not terminate earlier than three (3) years following the final certificate of occupancy. 8. Guarantors are to provide the standard FHFC Environmental Indemnity. 9. Guarantors are to provide the standard FHFC Guaranty of Recourse Obligations. 10. Operating Deficit Reserves ("ODR") in the amount of $381,244 will be permitted within the Borrower's budget. The calculation of developer fee will be exclusive of the budget ODR. Upon expiration of the ODR, the balance in the reserve will be used to pay down any other FHFC administered loan debt, if any, and if there is no FHFC administered loan debt, then the balance of the ODR shall be deposited into the subject's Replacement Reserve Account for the proposed development. In no event shall the remaining balance in said ODR be paid to the Applicant or Developer .. NORTHWEST GARDENS V PAGE 8-5 JULY 23, 2015 127 ATLANTlC ~ .. PAClFlC SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG 11. A mortgagee title insurance lender's policy naming FHFC as the insured second and third mortgage holder in the amount of the Loan(s) is to be issued immediately after closing. Any exceptions to the title insurance policy must be acceptable to FHFC or its legal counsel. All endorsements that are required by FHFC are to be issued and the form of the title policy must be approved prior to loan closing. 12 . Property tax and hazard insurance escrows are to be established and maintained by the first mortgage lender or the loan servicer. In the event the reserve account is held by Florida Housing's loan servicing agent, the release of funds shall be at Florida Housing's sole discretion . 13. Replacement Reserves in the amount of $316 per unit per year will be required to be deposited on a monthly basis into a designated escrow account, to be maintained by the first mortgagee or Florida Housing's loan servicing agent. However, Borrower has the option to prepay Replacement Reserves. New construction developments shall not be allowed to draw during the first five (5) years or until the establishment of a minimum balance equal to the accumulation of five (5) years of replacement reserves per unit. Per the first mortgagee, the reserve shall be increased annually by the lesser of three percent (3%) or the CPI beginning no later than the year the first residential building receives a certificate of occupancy, a temporary certificate of occupancy, or is placed in service, whichever is earlier ("Initial Replacement Date"). 14. GLE, or other construction inspector acceptable for FHFC, is to act as Florida Housing's inspector during the construction period . 15 . A minimum of 10% retainage holdback on all construction draws until the development is 50% completed, and 0% retainage thereafter is required. Retainage will not be released until successful completion of construction and issuance of all certificates of occupancy. 16. Satisfactory completion of a pre-loan closing compliance audit conducted by Florida Housing or its Loan Servicer, if applicable. 17. Closing of the MMRB first mortgage loan prior to or simultaneous with the closing of the SAIL and ELI Gap loans. 18. Any other reasonable requirements of the Loan Servicer, FHFC or its legal counsel. NORTHWEST GARDENS V PAGE 8-6 JULY 23, 2015 128 ATLANTIC ~._PACIFIC -•11 .... " .. ,,111- SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Housing Credit Allocation Recommendation SMG recommends a preliminary annual Housing Credit ("HC") allocation of $1,067,851. Please see the HC Allocation Calculation section of this report for further details. Contingencies Seltzer's annual HC allocation recommendation is contingent upon the receipt and satisfactory review of the following items by SMG and FHFC by the deadline established in the Preliminary HC Allocation. Failure to submit these items within this time frame may result in forfeiture of the HC Allocation. 1. All items listed under the Special Conditions section of the Loan Conditions to Close, if applicable. I 2. Receipt and satisfactory resolution of any outstanding past due or noncompliance items. 3. Any reasonable requirements of FHFC and/or SMG . NORTHWEST GARDENS V PAGE 8-7 JULY 23, 2015 129 15 Year Income and Expense Projection l,1f,,,,,■, .. 1•aaL,11L.."G ~ ~ ~ ·~ ~ -~ ~ \?Il(J ~· ~· • OPEAATIN G PROFORMA Grou Pct~ndal Ren nil I nccem e. $1,738,572 51,773,343 Sl,&0!.810 $1,8~4.987 Sl.881,886 $1,919,524 Sl,9S7,914 $1,997,073 52.037,014 52.077.754 Sl 119,llt Ront Subsidy {ODR) $0 $0 so so so $0 so $0 so so $1 0 1hiet lnc:ome : Ant.Ill.try lncomenP~r'kint. $0 so so so so so so $0 so so St Mi,cel!an!'OUs $12,000 $12,240 Sll,485 SU,734 $11,98;J Sl3,249 Sl3,514 $13,784 514,060 s1•.~•1 sg,521 ~ Wa1ha.r/Df"tltr Rtt1t.1 ls. $24,000 S24,480 S24,970 $25,469 S2S,978 526.498 527,0.28 $27,568 S2Bl10 SlS.682 SU.251 0 Cilbfe/S,u:Uit.e rn,ome so so so so so so so so so so SI u Rent Caflte-ssfons. so so so so so so so so So so St ! Al.irrn Income so so so so SD so so $0 so so St Grou Po1an1 1a1 lncomr Sl,774,571 Sl 810,063 $1 ,846.265 Sl,BB3,l!l0 51 ,920,854 Sl,959,271 Sl,998,4S6 S2,038.<2S Sl,079,194 S2 ,120,778 S2 .163,19' Leu, Ec·onomlc Los s • Pe.runtage: Ph\11.lc.;,,t Vac.:incv loss . Pe tcern;jl,nc . 5.0% ,~.7291 IS 90,50ll IS92.3!31 IS94 ,160J iS96,0431 IS97,96'1J !S99,913 (StOl,921) (Sl03,960J {$1 06,039) (SlOS.160 Collec1to11 LOU • Pcrccn1~s:tt: 2.~ l$17.746 1$36,2011 IS3 &,9251 1537,6641 IS>ll.4171 1$39,JSS) 1539.9691 IS4fl.769 {6U,SSAl 1542,41&) IS43,264 Toto1 I Etft!c:Uvc. Grou Revenue 51 ,658,098 $1,683,359 Sl,717.026 51,751,367 Sl,786,394 51,822,122 Sl.858,56< 51,895,736 $1,933,650 Sl ,972,323 S2,0U,n< Fixed : Ground L~ilie so s o so so so so so so so so SC 5Ub•Ground lease $0 so so so $0 so $0 so so so S( Real EnateTQiJ(CS Sl44,194 $148,SW 5152,975 SIS7,S6S $162,292 5167,160 $172,175 5177,340 $182,661 51 88,1 40 5193.l&! lra.,u rantr 5106,00II $109,180 $112,455 SUS,8291 S119,304 S122,883 $126,570 S130,367 Sl34,278 $138,306 s1•2.•S! Othe~ $0 so so So $0 $0 So so so so S( V.1riabhr: MDnilliemtM fe~ • Ptrcer,,ioge,; 6.0% $100,086 $101,002 SlOl,022 SlOS,082 $107,184 $109,327 $111,514 5113,74'1 Sll6.0t9 $118,339 S120,70i "' S80,000 S82.400 ss•.sn S87.418 $!i0,04J $92,742 $95,524 $104,382 $107,Sl: w G.encralund AdmlnT1trattve S98,390 SIOl ,342 "' a'i Payroll £:c gensl!f $178,096 S163,439 SlBB.9•2 Sl94,610 $:200 ,4 49 $206.462 $212,656 Sll9,036 S22.5.607 5232,375 5239,34£ .. u,,r,u .. S16S,OOO $169.950 5175.049 S180,300 S18S,709 Sl9l,280 $197,019 5202,929 S209,017 SllS,28S Slit,74! i:I M:111kelln1 and Advett lsJn t $0 so so so $0 $0 $0 so so so SC Ma lnle.n11ncc and Rt?,1t lr.1 S70,0DO sn.100 S7<.263 S76,49l 578,78(; S!U,149 se1,ss,: 586,091 S88;674 S91 ,33C S94,07' Grounds Maintenance and U,nd5eaplne: 560 000 $61 800 $63,654 S6S,564 $67,531 $69,556 $71,643 S73,792 $76,006 578.286 580,63! Res.ldtnl Ptofl,r.im, $0 so $0 SO • so so so so so so $( Contract Services So so so so so so so $0 so $0 S( Scwrltv S115,000 Sll8,4SO S122,004 5125.664 5129,'34 Sl33,3l7 $137,316 S1◄1.•35 $145 679 $150,0.:S SIS<.:,S< Other. so so so so so so SD so so so S< ReitNC ror A.t>OlatemcnU S63.200 565,0!16 S67,049 $69,060 571 U2 5731266 S7S,<64 577,?28 sao,o&o 582,462 S8'931 Tot af E:iq:uinsc, Sl,08 1,576 St,111 ,113 6 Sl,JA•,284 Sl 177.583 Sl,211,859 Sl,2<7,1•3 Sl,283,<6'1 $1,320,853 SJ.,3S9,341 Sl.398,961 $1,439,7<) Net Opr.rali r1.e. lnc.omc SS86.SU S571,•23 5572,7•2 $573,784 $574,535 $514,979 SSJS,100 $S74,883 1 S574.309 SS73,36l $572,02; Debr Se:rvl cc Pavm enu First 'Mortn11J:1:c $418,3 6; $418,3~2 $418,362 $4.18,362 $418,362 S<l8,362 S.018,362 $418.362 $<18,352 5<18,362 $08,36; ~ Second MortQoR• S60,1781 $60,178 $60,178 S60,l78 S60,178 $60,178 S60,178 S60,178 S60,17S 560.178 S60,171 u Third Moru:i;rn.e 59,632 $9,632 $9,632 ~9,632 $9,632 $9,632 S9,632 $9,632 $9,632 $9,632 S9.63: s ; Fourth Mon.e:1ne so so so so so so so so so so sr iii Fll1h Mona•R• $0 so so so so so so so so so S( Al l Other Monn•ne< so so so .so sa SO) so so so so 5( Q other FcB • so so so so so so so so so so S( Other F'lt!i!i • Agt:r1,1,1/fnJJ.ltC/SetviCt'J so so so so so so so so so so 5( Tot.1 1 Debt SeNltr Pavments S48B,l72 $488.171 $488,112 S<8S,l72 S488,172 S•S8,172 S488.l71 $488.172 $488,172 $488,172 S48S .,17: Cu~ Flow /lftor Dobl So Nlcc S9S,350 $83,251 SS<,S70 5 85,612 S86.363 S86,807 $86.928 566,711 S86,J37 SSS,lSO S83,851 t>obt Service Cover;:i,r:e RotiOl I I DSC • First Only (Incl , 1'1••••111• l\tbltr•,c) 1.402 L366 l.369 l.372 l.31il 1.174 1.375 1.374 1.373 l..370 l.36i DSC· First and Second l.226 l ,194 1..197 1.199 1.20] 1.202 l .202 1.201 1.200 l .198 l.l9~ DSC • Fim, S.cOlld and Third 1.201 L171 1.173 1.175 1.177 Ll78 l.178 1178 l.176 1.175 1.17# DSG · Fim. Secc,nd, Third, and Fourth 1.201 1.171 l .173 l .175 1.177 l.lJS 1.178 1.178 1.176 1.175 l.17~ DSC· Flt>!, Second, Th ird Fowlh, on<! Fifth 1.201 1,171 1173 1..1 7$ 1.177 1.1]8 1.178 1.178 1176 1.175 1.11; DSC • All 01h01 Mone•£<> 1.201 l.171 1.173 1.l7S 1.177 1.178 l.1781 1.178 l.176 1.l7S 1.17; DSC• AlJ Mortft•RO< ond fees 1.201 Lill 1.1'3 1.1 75 l.177 1.178 l.178 1.178 l .176 J .. .17S 1.17'i F1nanci,II Rado,: I I I I Op-cir.r,t lnE ;x.prruc Rtnio I 64 .8"1 66.1%1 66.6~ 67,1%1 67,8% 68 '"I 69.1~1 69 .7'1 70.3%1 70.9"1 71.6!1 B:~iJ\-Even Ratio I 88 5%1 88.4%1 88.4% SS ,51'1 88 5% 88.6% 88 7%1 88 ,7% 88 9%1 89 .0%1 89 ,l'/I Seltzer Management Group, Inc. Page 1 of 1 ATLANTIC ~ ... PACIFIC ------:S~A~!µl.~:!:LA~N~D==H~C:::::P!:::!:R~O~G!!:!:RA~-~l\~llS~C~R!!:E~D~IT!::::l~IN!:!:D~E~R~\A~l~Rl::!::T!:!:!I N~G:!R~E::!.:~==O~R=T=========-cS=.!.M~G -« ...... ",_ NORTHWEST GARDENS V / RFA 2014-103 (2014-3225) DESCRIPTION OF FEATURES AND AMENITIES A. The Development will consist of: 200 Garden Apartments located in 7 residential buildings. Unit Mix: One-hundred seventy-five {175) one bedroom/one bath units; Ten (10) two bedroom/two bath units; and Fifteen (15) Three bedroom/two bath units; 200 Total Units B. The Development must meet all requirements of local, state & federal laws, rules, regulations, ordinances, orders and codes, Federal Fair Housing Act as implemented by 24 CFR 100, the 2012 Florida Accessibility Code for Building Construction as adopted pursuant to Section 553.503, F.S., Section 504 of the Rehabilitation Act of 1973, and Titles II and Ill of the Americans with Disabilities Act {"ADA") of 1990 as implemented by 28 CFR 35, incorporating the most recent amendments, regulations, and rules, as applicable . C. The Development must provide the following General features: 1. Termite prevention; 2. Pest control; 3. Window covering for each window and glass door inside each unit; 4. Cable or satellite TV hook-up in each unit and, if the Development offers cable or satellite TV service to the residents, the price cannot exceed the market rate for service of similar quality available to the Development's residents from a primary provider of cable or satellite TV; 5. Full-size range and oven {20 inch only-30 inch range not feasible) in all units; 6. At least two full bathrooms in all 3 bedroom or larger new construction units; 7. Bathtub with shower in at least one bathroom in at least 90% of the new construction non-Elderly units. D. All new construction units that are located on an accessible route must have the following Accessibility, Adaptability, Universal Design and Visitability Features listed NORTHWEST GARDENS V EXHIBIT 2 -Page 1 131 ATLANTIC ~ ... PACIFIC -----=!:A!!!I.UL:z::::!::!::!:1-A~t,J!:!:D=!H~C==P~R~O~G.B.~A~l\~,1 S~C::!R=!:E.OJ~T~l l~t,JOE~R~\"~'~Rl!:!::I~IN~G~R~E~P:::::O~R~T=========--:!.!.SM~G _,. ........ ,_ NORTHWEST GARDENS V / RFA 2014-103 (2014-322S) DESCRIPTION OF FEATU RES AN D AMEN IT IES below. All rehabilitation units that are located on an accessible route must include as many of the features listed below as are structurally and financially feasible within the scope of rehabilitation work utilizing a capital needs assessment performed during the credit underwriting process : 1. Primary entrance door shall have a threshold with no more than a ½-inch rise; 2. All door handles on primary entrance door and interior doors must have lever handles; 3. Lever handles on all bathroom faucets and kitchen sink faucets; 4. Mid-point on light switches and thermostats shall not be more than 48 inches above finished floor level; and 5. Cabinet drawer handles and cabinet door handles in bathroom and kitchen shall be lever or D-pull type that operate easily using a single closed fist. E. All new construction units must include the following Green Building Features : 1. Required Green Building Features in all Family and Elderly Demographic Developments: a. Low or No-VOC paint for all interior walls (50 grams per liter or less for flat paint; 150 grams per liter or less for non-flat paint); b. Low-flow water fixtures in bathrooms -WaterSense labeled products or the following specifications: i. Toilets: 1.6 gallons/flush or less, ii. Faucets: 1.5 gallons/minute or less , iii. Showerheads: 2.2 gallons/minute or less; c. Energy Star qualified refrigerator; d. Energy Star qualified dishwasher; e. Water heating minimum efficiency specifications (choose gas, electric, or gas tankless or boiler/hot water maker); i. Gas: • 30 gal = .63 EF; or • 40 gal = .61 EF~ or • 50 gal= .59 EF ; or NORTHWEST GARDENS V EXHIBIT 2 -Page 2 132 ATLANTIC •'-PACIFIC ------,iS~A~"-r--fl:z::!:::!:!:l::!:A~N!::!:D::±H~C:::!P::!:R~O~G~R~A!:!:!M!:!:S~C~RE~:.O.~II!:::::J~lAJ~O~E!e!!R~W.~Rl::!:T!:!:lf\~IG!:;:.!R~E:::!:P~O~R::!:T========::::.._;S::!.!.M!!.'=-G -·•· •••. ., .. - NORTHWEST GARDENS V / RFA 2014-103 (2014-3225) DESCRIPTION OF FEATURES AND AMENITIES • 60 gal = .57 EF; or • 70 gal= .55 EF; or • 80 gal = .53 EF; or ii. Electric: • 30 gal = .94 EF; or • 40 gal = .93 EF ; or • 50 gal = .92 EF; or • 60 gal = .91 EF; or • 70 gal = .90 EF; or • 80 gal= .89 EF; or iii. Tankless gas water heater: minimum .80 EF iv. Boiler or hot water maker: • <300,000 Btu/h: 85% Et (thermal efficiency); or • 300,000 Btu/h or higher: 80% Et; f. Energy Star qualified ceiling fans with lighting fixtures in the bedrooms; g. Air Conditioning (choose in-unit or commercial); i. In-unit air conditioning: minimum 14 SEER ; or ii. Central chiller AC system -based on size: • 0-65 KBtuh : Energy Star certified; or • >65-135 KBtuh: 11.3 EER/11.5 iPLV; or • >135-240 KBtuh: 11 .0 EER/11 .5 IPLV; or • >240 KBtuh: 10.6 EER/11.2 IPLV. h. Caulk, weather-strip, or otherwise seal all holes, gaps, cracks, penetrations, and electrical receptacles in building envelope; i. Seal and insulate heating and cooling system ducts with mastic or metal backed tape . F. The Applicant has committed to provide the following Additional Green Building to achieve a total point value of at least 10 points: 1. _X_ Programmable thermostat in each unit (2 points) 2. _X_ Humidistat in each unit (shown in new construction only) (2 points) NORTHWEST GARDENS V EXHIBIT 2 -Page 3 133 ATLANTIC ~ .. PACIFIC ----~A~l:!:zl,:::!E;±Lt:!I A~~!:!:-~~·~~~AM~~S!!::C~R~E~D~IT~ll:!:!!N~D~E~R\~/\/~B:t:IT':::!:!I N~G!::!::!:!R~E:!:::PO~BT==========~S:!:tM~G _., ...... ",_ NORTHWEST GARDENS V / RFA 2014-103 (2014-3225) DESCRIPTION OF FEATURES AND AMENITIES 3. _ Water Sense certified dual flush toilets in all bathrooms (2 points) 4. _ Light colored concrete pavement instead of or on top of asphalt to reduce the heat-island effect (2 points) 5. _X_ Energy star qualified roof coating (2 points) * 6. _ Energy star qualified roofing materials (metal, shingles, thermoplastic polyolefin (TPO), or tiles) (3 points) * 7 . _ Eco-friendly cabinets -formaldehyde free, material certified by the Forest Stewardship Council (3 points) 8. _ Eco-friendly flooring for entire unit -Carpet and Rug Institute Green Label certified carpet and pad, bamboo, cork, 100 percent recycled content tile, and/or natural linoleum (3 points) 9 . _ Energy star rating for all windows in each unit ( 3 points) 10. _X _ Florida Yards and Neighborhoods certification on all landscaping (2 points) 11. _X_ Install daylight sensors, timers or motion detectors on all outdoor lighting attached to buildings (2 points) * Applicant may choose only one option related to Energy Star qualified roofing. G. In addition to the required features above, all Applications with the Elderly Demographic must also provide the following in all units (new construction units and rehabilitation units): 1. Fifteen (15) percent of the new construction units must have roll-in showers. 2. In all of the new construction units and in as many of the rehabilitation units as is structurally and financially feasible within the scope of the rehabilitation work utilizing a capital needs assessment performed during the credit underwriting process: a. Horizontal grab bars in place around each tub and/or shower, the installation of wh ich meets or exceeds 2010 ADA Standards for Accessible Design, Section 609. In addition, the following standards for grab bars are required: NORTHWEST GARDENS V EXHIBIT 2 -Page 4 134 ATLANTIC _..,.._PACIFIC -----i!!:.A~l.L,--ELJ..APJ~!:!=:~Dt:!H:'::'C"""P!::::!R~O~G~R~A~M~S~C~R~E=!::OU::::!:=:::..U~!:!!:N~D:!::!ER~'t!:M:!!:Rl!::!:T:!:!:11'~1 G~R~E~R~O~=========--~SM~G -·. -••·", ,._ NORTHWEST GARDENS V / RFA 2014-103 (2014-3225) DESCR IP TION OF FEAT URES AND AMENITIES i. If a bathtub/shower combination with a permanent seat is provided, grab bars shall be installed to meet or exceed 2010 ADA Standards for Accessible Design, Section 607.4.1 . ii. If a bathtub/shower combination without a permanent seat is provided, grab bars shall be installed to meet or exceed 2010 ADA Standards for Access i ble Design, Section 607.4.2. iii. If a roll -in shower is provided, grab bars shall be installed to meet or exceed 2010 ADA Standards for Accessible Design, Section 608.3.2; b . Reinforced walls for future installation of horizontal grab bars in place around each toilet, the installation of which meets or exceeds 2010 ADA Standards for Accessible Design, Section 604 .5.1 (Side Wall); c. Roll-out shelving or drawers in all bottom bathroom vanity cabinets; d . Adjustable shelving in master bedroom closets (must be adjustable by resident); and e. In at least one of the kitchen's bottom or base cabinets, there shall be a large drawer that has full extension drawer slides. H. The Applicant has committed to provide the following Resident Programs : 1. Literacy Training -Applicant or its Management Company must make available, at no cost to the resident, literacy tutor(s) who will provide weekly literacy lessons to residents in private space on-site . Training must be held between the hours of 8 :00 a.m. and 7:00 p.m. and electronic media, if used, must be used in conjunction with live instruction. If the Development consists of Scattered Sites, this resident program must be provided on the Scattered Site with the most units. 2. Computer Training -The Applicant or its Management Company shall make available computer and internet training classes (basic and/or advanced level depending on the needs and requests of the residents). The training classes must be provided at least once a week, at no cost to the resident, in a dedicated space on site . Training must be held between the hours of 8:00 a.m. and 7:00 p.m. and electronic media , if used, must be used in conjunction with live instruction . If the Development consists of Scattered Sites, this resident program must be provided on the Scattered Site with the most units. 3. Assistance with Light Housekeeping, Grocery Shopping and/or Laundry -The Applicant or its Management Company must provide residents with a list of qualified service providers for (a) light housekeeping, and/or (b) grocery shopping, and/or (c) laundry and will coordinate, at no cost to the resident, the scheduling NORTHWEST GARDENS V EXHIBIT 2 -Page 5 135 ATLANTIC ~PACIFIC -----:;SA~I.UU-A~~:!;:!N!:!::D=!:H~C::::!P:::!:R~O~GR:!:!:. ~A~M~S:!;:!C:::R::E:::D::::II~l~I Nt:!!:D~E=i:R.\A~IR!:!!l:=Tl~N~G-!::!R.E.fm.R:!:!::!::~· =T=========----:S:!!.M~G -• ••••• ,,,. ,- NORTHWEST GARDENS V / RFA 2014-103 (2014-3225) DESCRI PTI ON OF FEATURES AND AMENITIES of services. The Developer or Management Company shall verify that the services referral information is accurate and up-to-date at least once every six (6) months. NORTHWEST GARDENS V EXHIBIT 2 -Page 6 136 ATL A NTIC ~ .. PACI F IC SAIL AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG COMPLETENESS AND ISSUES CHECKLIST DEVELOPMENT NAME: ..:.N.;..;o;..;.r..::.:th-'-'w""-e=s=t..;aG=a""-rd=e=n=s"""""V'---__________________ _ DATE: Jul 23 201 5 In accordance with applicable Program Rule(s), the Applicant is requ i red to submit t he information required to evaluate, complete, and determ i ne its sufficiency in satisfying the requirements for Credit Underwriting to the Credit Underwriter in accordance with the schedule establ i shed by the Florida Housing Finance Corporation ("Florida Hous i ng" or "FHFC"). The following items must be satisfactorily addressed. "Satisfactorily" means that the Credit Underwriter has received assurances from th i rd parties unrelat ed to the Applicant that the t r ansaction can close within the allotted time frame . Unsatisfactory items, if any, are noted below and in the "Issues and Concerns" section of the Executive Summary. CREDIT UNDERWRITING STATUS NOTE REQUIRED ITEMS: Satis. /Unsatis. 1. The development's final "as subm itted for permitting" plans and Satis . specifications. Note : Final "signed , sealed, and approved for construction" plans and specifications will be required thirty days before closing . 2. Fi nal site plan and/or status of site plan approval. Satis . 3 . Pe r mit Status . Satis . 4 . Pre-construction analysis ("PCA"). Unsatis. 1 5. Survey . Satis. 6. Complete, thorough soil test r eports . Satis . 7. Full or self-conta i ned appra isal as defined by the Uniform Standa r ds of Satis . Professional Appraisal Practice . 8 . Market Study separate from the Appraisal. Satis. 9 . Environmental Site Assessment -Phase I and/or Phase II if applicable (If Satis . Phase I and/or II d isclosed environmental problems requiring remediation, a plan, including time frame and cost, for the remediation is required). If the report is not dated within one year of the application date, an update from the assessor must be provided indicating the current environmental status. NORTHWEST GARDENS V EXHIBIT 3 -PAGE 1 JULY 23 , 2015 137 ATLANTI C _Al._P AC IFI C SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG 10. Audited financial statements for the most recent fiscal year ended or Satis . acceptable alternative as stated in the Rule for credit enhancers, Applicant, general partner, principals, guarantors and general contractor. 11. Resumes and experience of Applicant, general contractor and management Satis. agent. 12. Credit authorizations; verifications of deposits and mortgage loans . Satis. 13 . Management Agreement and Management Plan . Unsatis . 2 14. Firm commitment from the credit enhancer or private placement purchaser, Satis. if any. 15. Firm commitment letter from the syndicator, if any. Satis . 16. Firm commitment letter(s) for any other financing sources . Satis . 17. Updated sources and uses of funds. Satis . 18. Draft construction draw schedule showing sources of funds during each Satis . month of the construction and lease -up period. 19. Fifteen-year income, expense, and occupancy projection . Satis . 20. Executed general construction contract with "not to exceed" costs. Satis . 21. HC ONLY: 15% of the total equity to be provided prior to or simultaneously Satis . with the closing of the construction financing . 22 . Any additional items required by the cred it underwriter. Satis . NOTES AND APPLICANT'S RESPONSES: 1. The July 10, 2015 PCA analysis of costs is not based on the final executed construction contracts and reflects that the following features and amenities are not included in the plans and specifications: a. Programmable thermostat in each unit b. Humidistat in each unit (shown in new construction only) c. Energy Star qualified refrigerators (shown in new construction units only) d. 40 gallon electric water heater with a m i nimum .93 EF (included in new construction units o n ly -the units to be rehabilitated have an exist i ng boiler with 645,000 Btu/h 85% Et) e. Energy Star qualified ceiling fans with lighting fixtures in the bedrooms (shown in new construction units only) f . In unit air conditioning: minimum 14 SEER (provided in new construction units only - PTACs in existing building) NORTHWEST GARDENS V EXHIBIT 3 -PAGE 2 JULY 23, 2015 138 ATLANTIC ..11116.PACIFIC -11:0 .... ., •.• ,.,_ SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG g. Fifteen percent of all new construction units must have roll-in showers (only 14 of the 100 new construction units reflect a roll-in shower) h. In at least one of the kitchen's bottom kitchen or base cabinets, there shall be a large drawer that has full extension drawer slides Applicant's Response: A final PCA reflecting the most recent executed construction contracts and reflecting all feasible committed features and amenities are included will be provided. Seltzer's recommendation is contingent upon receipt and satisfactory review, prior to loan closing, of a final PCA reflecting all feasible features and amenities are included in the new construction and rehabilitation units and an analysis of the construction costs and construction schedules as reflected in the most recent fully executed and dated construction contracts for new construction and rehabilitation. 2. The management agreement and management plan provide by the Borrower are unexecuted drafts with no dates. Applicant's Response: A final, fully executed and dated management plan and management agreement will be provided at loan closing. Seltzer's recommendation is conditioned upon receipt and satisfactory review, prior to loan closing of a final, fully executed and dated management plan and management agreement. NORTHWEST GARDENS V EXHIBIT 3 -PAGE 3 JULY 23, 2015 139 ATLANTIC _.f._PACIFI C SAIL AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG HC Allocation Calculation Section I: Qualified Basis Calculation Develo pment Cost $28 554,318 Less Land Co st 1$2,200 000) Less Federal Funds $0 Less Other I neligible Cost ($2,194,798) "' Less Dis p rop orti onate Standard $0 Total Eligi ble Basis $24,159,520_ Aoolicable Fraction 100.00% D DA/QCT Bas is Credit 130.00% Qualified Basis $31,407,376 Housing Credit Percentage 3.40% Annua I_ Hous i n~_Cred it Al I ocati on $1(0__§_71851 Notes to the Qualified Basis Calculation: 1. Other Ineligible Costs primarily consist of FHFC application, administration and compliance monitoring fees and HC compliance fees, permanent loan origination and closing fees, and portions of title insurance and recording fees plus soft cost contingency. 2 . Seltzer notes that the Borrower's HC Application does not reflect a request for any acquisition HC. 3. Applicant committed to a set aside of 100%. SMG therefore utilizes an Applicable Fraction of 100.00%. 4. The subject development is located in a Qualified Census Tract (120099002200). A 130.00% Basis Credit has therefore been utilized. 5 . Per Florida Housing Rule, 15 basis points are added to the HC percentage of 3.25% reported as of the August 2014 date of i nvitation to credit underwriting. For purposes of this report, a HC Credit Percentage of 3.40% is applied. NORTHWEST GARDENS V EXHIBIT 4 -PAGE 1 JULY 23 , 2015 140 ATLANTIC _.,._P ACIFIC -t•_,.~ ..... ,1••- SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT SMG Se cti on II: Gao ca lcula t ion Total Development Cost {Inclu din g Land and Ineligi ble Costs) $281554 ,318 Less Mo rtg ages ($16,460 0001 Less Grants so Egui ~ Gae $12 ,094,318 Percentage to Investment Partnership 99 .990% HCSyndication Pricine. $1.1200 HCRequired to Meet Gap $10 799,578 Annual HCRequired $1,079 958 Notes to the Gap Calculation: 1. Mortgages are the $6,500,000 Housing Finance Authority of Broward County permanent MMRB first mortgage loan, the $4,960,000 FHFC SAIL second mortgage loan, the $1,500,000 FHFC SAIL/ELI third mortgage loan and the HACFL fourt h mortgage in the amount of $3,500,000. 2 . HC Syndication Pricing and Percentage to Investment Partnership are based upon an April 29 , 2015 Letter of Interest ("LOI") from BOAML. Section Ill: Tax-Ex e mot Bond 50% Test --------------.. ---- Total Depreciable Cost $24,159,520 I Plus La n d Cost $2 ,200,000 ~~ate Basis $26 359 520 Tax-Exempt Bond Amount $14,000,000 Less Debt Service Reserve $0 Less Pro ce eds Used for Cos ts of lssua n~e 29. _.£.1 u sJa_x-e~~-'Ill'.-l! Gl~_cl rr1 i _r:igs -·---~o Tax-Exemot Proceeds Used for Bu ild i ne. and Land $14,000 000 Proceeds Divid e d _9_y Agg_,:~gate §as_is -__ ! 53 .11% Notes to 50% Test : SMG estimates the Housing Finance Authority of Palm Beach County MMRB loan amount to be 53.11% of depreciable development costs plus land acquisition costs . If, at the time of Final Cost Certification, the Tax Exempt MMRB loan amount is less than 50%, developer fees will have to be reduced by an amount to ensure compliance with the 50% Test . That may, in turn, result in a reduction to HC Equity . NORTHWEST GARDENS V EXHIBIT 4 -PAGE 2 JULY 23 , 2015 141 SAIL, ELI AND HC PROGRAMS CREDIT UNDERWRITING REPORT Section IV: Summarv lif_P-er Qu a lifle d Bas i s ~1~ HC pe r Ga p Ca lcul a ti0n $1,079,958 Annu a I HC Re co mmen de d g,q§7&51 --- Notes to the Summary: 1. The Annual HC Recommended is based upon the Qualified Basis Calculation. NORTHWEST GARDENS V JULY 23 , 2 0 15 ATLA 1 TIC ~ .. PAClfl C SMG EXHIBIT 4 -PAGE 3 142 Tab 7 -Exhibit 8-2 -Project Credit Underwriting Reports Florida Housing Finance Corporation Credit Underwriting Report Seventh Avenue Transit Village II Housing Credit Financing for Affordable Housing Developments located in Miami-Dade County RFA 2014-116 (2015-171() Section A: Report Summary Section B: Housing Credit Allocation Recommendation and Contingencies Section C: Supporting Information and Schedules Prepared by AmeriNat® Final Report May 2, 2017 ATLANTIC _.,._PACIFIC 143 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT Seventh Avenue Transit Village II TABLE OF CONTENTS Section A Report Summary ► Recommendation ► Overview ► Uses of Funds ► Operating Proforma Section B Housing Credit Allocation Recommendation and Contingencies Section C Supporting Information and Schedules ► Additional Development & Third Party Information ► Borrower Information ► Syndicator Information ► General Contractor Information ► Property Management Information Exhibits 15 Year Proforma Description of Features & Amenity Characteristics Housing Credit Allocation Calculation Completeness and Issues Checklist Mav 2. 2017 ATLANTIC ...,._PACIFIC AMERINAT Al-A7 A8-A10 A11-A14 A15-A17 Bl C1-C6 C7-C14 C15 C16 -C17 C18 1 2 1-4 3 1-2 41-2 144 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT Section A Report Summary I\A,:,u ? ?n17 ATLANTIC ~PACIFIC AMERINAT 145 ATLANTIC _..,,~PACIFIC _, ..... .,,..,,,,,_ HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Recommendation AmeriNat® recommends the issuance of an annual allocation of 9% Housing Credits ("HC") in the amount of $2,561,000 to Seventh Avenue 11, Ltd. ("Applicant") for the construction and permanent phase financing of Seventh Avenue Transit Village II (the proposed "Development") in response to a Request for Applications 2014-116 Housing Credit Financing for Affordable Housing Developments located in Miami- Dade County ("RFA"). Development Name: Seventh Avenue Transit Village II Program Numbers : RFA 2014-116 NW 7th Avenue at the intersection of NW 7th Avenue Address: and NW 62nd Street County: Miami -Dade Development Category : New Construction 2015-171C City: Miami Zip Code :_3_3_15_0 ____ _ County Size: _L_a~rg~e ______ _ Deve l opment Type : High Rise Construction Type : Cast in place concrete with stucco finish. Demographic Commitment: Elderly: Homeless: ELl:~Units@ 33% AMI Farmworker or Commercial Fish Worker: Family: X Link: 5 Units Low High RD/HUD Bed Bath Square GrossHC HOME HOME Utility Cont NetHC Applicant Appraiser Annual Rental Rooms Rooms Units Feet AMI% Rent Rents Rents Allow Rents Rent Rents Rents CU Rents lntome 1.0 1.0 10 652 33% $419 so so Saa so $331 $331 S331 $331 $39 ,720 1.0 1.0 90 652 60% $762 $0 $0 Saa So $674 $674 S674 5674 S727,920 100 65200 $767,640 Non-Residential -0 Buildings: Residential -1 ------------------ Parking: Parking Spaces -120 -----Accessible Spaces -5 ---- Set Asides: Program % of Units #of Units %AMI Term (Years) Housing Credits 10% 10 33% 50 Housing Credits 90% 90 60% 50 For purposes of RFA 2014-116, the Link Strategy was established to provide access and options for permanent rental housing to Extremely Low Income Persons with Special Needs who are receiving community-based supportive services . The Applicant must set aside one half of the proposed Development's ELI Set-Aside units (5 units) as Link units for Special Needs Households and develop and execute a Memorandum of Understanding ("MOU") with at least one designated Special Needs Household Referral Agency that provides supportive services for Special Needs Households for the county where the proposed Development will be located. As outlined in the Carryover Allocation Agreement, the fully executed MOU is due to FHFC by June 30, 2017. Absorption Rate: _4_3 ___ units per month for months . ----3 Occupancy Rate at Stab ii ization : Physical Occupancy 96% Economic Occupancy 95% Weighted average occupancy in the CMA is 98.6% Occupancy Comments according to the market study SEVEN fH AVENUE TRANSIT VILLAGE II PAGE A-1 Mav 2. 2017 146 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT DOA?: Yes QCT?: Yes ---- Site Acreage : 0.66 Density : ___ 1_51_._s __ _ Flood Zone Designation : Zoning: T6-8-0 , Urban Core Transect Zone Flood Insurance Required?: Ill :ut:.<. .. J :J 1'1I :;,,r~J.B;~ ApP.I i cant/Borrower: Seventh Avenue II, Ltd. Genera I Partner 1: Seventh Avenue II GP, LLC Limited Partner 1: Wells Fargo Affordable Housing Communtv Development Cornoration Devel aper: APC Seventh Avenue II Development, LLC Principal 1 Howard D. Cohen Principal 2 Kenneth Cohen Principal 3 Sta nl ev Cohen Co-Devel aper: BAME Develooment Corporation of South Florida , Inc. General Contractor 1: Atlantic Pacific Community Builders LLC Management Company : Atlantic Pacific Community Management LLC Syn di ca tor: Wei Is Fargo Affordable Housing Communtv Develooment Corooration Architect: Corwil Architects, Inc. Market Study Provider: Meridian Aporaisal Group, Inc. Aooraiser : Meridian Aooraisal Group Inc. . !:l::l''IL'lf~\1'11:11'11', ~I ,'f,\M ■ IN<:'111,'I :l'1Ji~1m•'ll~[IJl'f 1st Source 2nd Source 3rd Source 4th Source 5th Source Lien Position 1 Lender /Gra ntor Wells Fargo Amount $1,205,910 Underwritten Interest 5.40% Rate Al I In Interest Rate 5.40% Loan Term 16 Amorti za ti on 35 Market Rate/Market 10.62% Financing LTV Restricted Market 38.53% Financing LTV Loan to Cost 4.11% Debt Service Coverage 2.21 Opera ting/Deficit $332,568 Service Reserve Period of Operating Expenses/Deficit 6 Reserve in Months Deferred Developer Fee Land Value Market Rent/Market Financing Sta bi I ized Va I ue Rent Restricted Market Financing Stablized Value Projected Net Operati ng Income (NOi ) • Year 1 Projected Net Operating Income (NOi ) -15 Year Year 15 Pro Forma Income Escalation Rate Year 15 Pro Forma Expense Escalation Rate Housing Credit Syndication Price Housing Credit Annual Allocation ---se-~NttE TRANSIT VILLAGE II May 2, 2017 ATLANTIC ~.._PACIFIC AMERINAT X No % Ownership 0.01% 99 .99% Other $0 $2,180,000 $11,350,000 $3,130,000 $172,392 $134,840 2% 3% $1.100000004 $2,561,000 ~147 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT r.:•1,,1,.,1;1 .... ~ rei';;, :.-::i:i 11 ,HWI 'll'D n,.-;.• lt ~ Source Lender Construction Permanent First Mortgage Wells Fargo $15,100,000 $1,205,910 HC Equity Wells Fargo $12,496,928 $28,168,183 Deferred Developer Fee Developer $1,777,165 $0 TOTAL $29,374,093 $29,374,093 SEVENTH AV ENUE TR ANSIT VI LLAGE II M~v ,_ ,n17 ATLANTIC ~-.PACIFIC _,., ........ ,,.,.- AMERINAT Perm Loan/Unit $12,059 $281,682 $0 $293,741 PAG E A-3 148 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT ATLANTIC ~•PACIFIC AMERI NAf ... "" ,_ Changes from the Application: COMPARISON CRITERIA YES NO Does the level of experience of the current team equal or exceed that of the team X described in the Application? Are all funding sources the same as shown in the Application? 1 Are all local government recommendations/contributions still in place at the level described in the Application? 1 Is the Development feasible with all amenities/features listed in the Application? X Do the site plans/architectural drawings account for all amenities/features listed in the X Application? Does the Applicant have site control at or above the level indicated in the Application? X Does the Applicant have adequate zoning as indicated in the Application? X Has the Development been evaluated for feasibility using the total length of set-aside X committed to in the Application? Have the Development costs remained equal to or less than those listed in the 2 Application? Is the Development feasible using the set-asides committed to in the Application? X If the Development has committed to serve a special target group (e.g . elderly, large family, etc.), do the development and operating plans contain specific provisions for X implementation? HOME ONLY: If points were given for match funds, is the match percentage the same as n/a or greater than that indicated in the Application? HC ONLY: Is the rate of syndication the same as or greater than that shown in the X Application? Is the Development in all other material respects the same as presented in the X Application? The following are explanations of each item checked "No" in the table above: 1. In the Applicant's response to the RFA, a Local Government Verification of Contribution -Loan Form was included as Attachment 20 that illustrated a reduced interest rate loan would be made from Miami-Dade County to the Applicant in the amount of $155,000. Since the time of application, the Applicant removed the loan as a source in the construction and permanent financing as it was no longer needed to balance the sources and uses of funds. 2. Total Development Costs have increased by $748,279 from $28,625,814 to $29,374,093 since the Application due to increases in construction costs. These changes have no substantial material impact to the HC recommendation for the Development. According to the FHFC Asset Management Noncompliance Report dated January 5, 2017, no noncompliance issues exist for the Development Team. PAGE A 4 May 2, 2017 149 ATLANTIC ...iil.._PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT According to the FHFC Past Due Report dated January 5, 2017, no past due issues exist for the Development Team. This recommendation is subject to satisfactory resolution, as determined by Florida Housing, of any outstanding past due items or non-compliance issues applicable to the Development Team prior to closing and the issuance of the annual HC allocation recommended herein. Strengths: 1. An Appraisal performed by Meridian Appraisal Group, Inc. ("Meridian") dated December 4, 2015 concludes that the Development should benefit from the rental rate advantage it will have over market rents. Based on the proposed rents, the projected market rents are generally 171% greater than the 2016 maximum restricted rents at the 60% AMI level and 347% greater than the 2016 maximum restricted rents at the 33% AMI level. 2. Per the Market Study completed by Meridian dated December 3, 2015, the Development has a capture rate (as further defined in the Market Study portion of the "Additional Development & Third Party Supplemental Information" section of this report) of 0.4% in the Primary Market Area ("PMA"), a 10-mile ring centered on the Development with an estimated population of 1,575,401 as of 2015 . This indicates both a low barrier of entry to the market and strong demand for affordable housing in the market area. 3. Properties identified by Meridian as comparable to the Development that are located in the Competitive Market Area ("CMA"), which is defined as being a slightly smaller area than the 10- mile radius of the PMA, have an average physical occupancy rate of 98.6% as of October 2015 . Other Considerations: 1. The development was originally designed for an Elderly Demographic with 100 one bed/one bath units. In the Market Study, Meridian concludes the Development's unit mix is considered good for an elderly project, but not optimal for the general population. However, Meridian opines that the unit mix should be accepted within the market considering the demand for one-bedroom units by the elderly as well as by younger singles and couples. 2. Per the RFA, FHFC limits the Total Development Cost ("TDC") per unit to a figure based on the average cost to deliver new construction units and rehabilitation units. Based on the Application, the Applicant indicated the Development is a new construction, high rise, concrete development and as such is limited to a TDC of no more than $280,100 per unit. Applying the 1.8% escalation factor allowable for the Development Category of new construction, high rise, concrete, the maximum TDC per unit cost is $285,142. Based on the underwritten TDC, exclusive of land costs and Operating Deficit Reserve, the cost per unit for the Development was $293,688. In accordance with the RFA, AmeriNat reduced the Developer Fee by $645,898 from $4,050,593 to $3,404,695, which reduced the TDC per unit to $287,209, which is within the 5% margin that allows the Development to receive a positive recommendation. Issues and Concerns: 1. The Development will consist of 100 affordable housing units as well as approximately 4,500 square foot in two spaces that is designated as retail space. AmeriNat has underwritten the construction (hard) costs of the retail space entirely as HC ineligible costs. 2. AmeriNat received a Plan and Cost Review ("PCR") performed by Varian Associates, P.A. {"Varian") dated November 4, 2016. The Development's hard cost budget for residential and retail space SEVENTH AVENUE TRANSIT VILLAGE II PAGE A-5 M::iv ,_ ,n17 150 ATLANTIC ~ .. PACIFIC _._ ...... 11,1 .. 1,111- HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT equates to $170 per adjusted square foot ("asf") which is comprised of $158 per asf for building construction and $12 per asf for site development. Recently constructed Florida multifamily residential structures report an overall hard cost range of $94 to $153 per asf with a median of $124 per asf and a range of $84 to $141 per asf with a median of $113 per asf for building construction only. By comparison, the Development's total hard cost budget is nearly 25 % above average. Varian indicates these higher than average costs are due to the Development's unique design and construction requirements, i ncluding a recreation deck that occurs atop the parking deck, east of the structure . This plaza includes a swimming pool. Structural costs are increased for framing and reinforcement of the pool basin. Decorative demi-balconies do not contribute any area to the building, but must be constructed and equipped with railings. Impact resistant windows have been incorporated into the specifications. Varian states there is no other obvious reason for a higher than normal building construction costs . W ai ver Re qu ests: None Specia l Co nd iti o ns : No ne Ad diti o nal Informati o n : 1. AmeriNat® received and reviewed a Standard Form of Agreement Between Owner and Contractor where the basis of payment is the Cost of the Work Plus a Fee with a Guaranteed Maximum Price (the "Construction Contract"). Article 1 of the Construction Contract states that the parties acknowledge and agree that prior to the date of the Construction Contract, the parties executed a Fixed Price Agreement dated February 2, 2016. The Contractor and Owner agree to void and cancel the Fixed Price Agreement and any work performed shall be considered work under the new Construction Contract and is subject to the terms and conditions contained therein . Recommendation: AmeriNat ® recommends the issuance of an annual allocation of 9% HC in the amount of $2,561,000 to the Applicant for the construction and permanent phase financing of the proposed Development in response to RFA 2014-116 . These recommendations are based upon the assumptions detailed in the Report Summary (Section A), and Supporting Information and Schedules (Section C). In addition, these recommendations are subject to the Housing Credit Allocation Recommendation and Contingencies (Section B). This recommendation is only valid for six months from the date of the report . The reader is cautioned to refer to these sections for complete information. Prepared by : Reviewed by : ~~ d Kyle Kuenn George Repity Senior Credit Underwriter Senior Credit Underwriter SEVEN TH AV ENUE TRANc..-SfttT-t\ffi'll:ttl:A-a+.6,._E-f'lllt----------------PA~ 151 May 2, 2017 ATLANTIC ~~PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Overview Construction Financing Sources: First Mortgage Wells Fargo $16,892,100 $15,100,000 $15,100,000 3.02% $302,966 Second Mortgage Miami -Dade $155,000 $0 $0 HC Equity Wells Fargo $16,132,687 $26,928,092 $12,496,928 Deferred Developer Fee Developer $3,858,000 $0 $1,777,165 Total: $37,037,787 $42,028,092 $29,374,093 $302,966 ProQosed First Mortgage Loan: The Applicant provided a Promissory Note dated April 5, 2016 that was executed by the Applicant and Wells Fargo Bank, N.A. ("Wells Fargo"). The Promissory Note illustrates the terms and conditions in which Wells Fargo originated a construction loan to the Applicant in an amount up to $15,100,000 ("Construction Loan"). The Construction Loan will initially mature April 5, 2018, for a construction term of 24 months, however, one six-month extension is available and conditioned upon the receipt of payment of an extension fee of 25 basis points ("bps") of the outstanding principal amount and 25 bps of the proposed permanent loan. The Construction Loan shall require monthly interest-only payments based upon an interest rate equal to the one-month LIBOR plus 200 bps adjusted monthly. AmeriNat added a 25 basis point ("bps") cushion for an "all-in" interest rate of 3 .02%. Additional Construction Sources of Funds: An Amended and Restated Agreement of Limited Partnership ("LPA") dated April 5, 2016 illustrates the terms in which Wells Fargo purchased a 99.99% ownership in the Applicant in return for a proportionate share of the total HC allocation estimated to be $25,610,000. The HC allocation will be syndicated at a rate of $1.100000004 for each $1.00 of tax credits delivered. A total of $12,496,928 was funded at construction loan closing, which is an amount sufficient to meet the 15% criteria required by the RFA. No other equity payments are expected during the construction period. Deferred Developer Fee: In order to balance the Sources and Uses, the Applicant will be required to defer $1,777,165 of the total developer fee during the construction phase. Any payment of the developer fee must be mutually approved by the general partner and the limited partner. SEVENTH AVENUE I RANSIT VILLAGE II PAGE A-7 Mav 2. 2017 152 ATLANTIC ~._PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Permanent Financing Sources: r:.1,"' ~ , •. l ilt1:..i ■1,,1 ·,-, .,. ' :,11,1, 'il$in -~ ,. m,, '~ ,.-.... ,.:r.:11:. l~C~•J .. ,w,• M t:u ~ ~ ~ ltm,;-..,u~1H 1H First Mortgage Wells Fargo $944,138 $1,310,000 $1,205,910 5.40% 35 16 $77,981 Second Mortgage Miami-Dade $155,000 $0 $0 HC Equity Wells Fargo $26,887,811 $28,168,183 $28,168,183 Deferred Devel aper Fee Developer $638,865 $1,041,992 $0 Total : $28,625,814 $30,520,175 $29,374,093 $77,981 Pro posed First Mortgage Loan: The Applicant provided an executed Commitment Agreement for Fixed Rate Permanent Mortgage Loan between Wells Fargo and the Applicant that illustrates the terms and conditions of a Permanent Loan in an amount up to $1,310,000 ("Permanent Loan") or such other amount as determined by Wells Fargo during its underwriting performed at permanent loan conversion. However, AmeriNat estimates the Construction Loan shall be paid down to $1,205,910 in order to balance the sources and uses. The following conditions must be met in order to convert to permanent financing: 1) construction must be complete, 2) the Development must be a minimum of 90% occupied for 90 continuous days, and 3) the Development must meet a minimum Debt Service Coverage of 1.20 to 1.00 with a loan to value ("LTV") not to exceed 80% based upon a re-underwriting of the actual income and expenses in place at the time of conversion. The Applicant will pay a conversion fee of $7,500 plus other expenses for an insurance review, site inspection, and loan servicer set-up fees that are estimated to be $5,000. The Permanent Loan will be for a term of 16 years and will amortize over a period of 35 years. The Borrower shall make monthly principal and interest payments that are calculated based upon a fixed interest rate equal to 5.40%. The Permanent Loan is subject to a prepayment premium for 15 years that is calculated as the greater of 1% of the outstanding loan amount or the yield maintenance. Add it iona l Perm an ent Sources of Fund s: An Amended and Restated Agreement of Limited Partnership ("LPA'') dated April 5, 2016 illustrates the terms in which Wells Fargo purchased a 99.99% ownership in the Applicant in return for a proportionate share of the total HC allocation estimated to be $25,610,000. The HC allocation will be syndicated at a rate of $1 .100000004 for each $1.00 of tax credits delivered . The HC equity contributions are anticipated to be paid as follows: -~.1 . . ''" . l•~ll ilil I .. -,r: 1st I nsta 11 ment $12,496,928 44 .37% Partnership closing Temporary Certificate of Occupancyforall units; Receipt of As- 2nd Installment $14,431 ,164 51.23% Built Survey, draft cost certification, or April 1, 2017 Permanent loan conversion, attainment of DSCR of 1.20 to 1, final Certificate of Occupancy, Lien free completion, 100% 3rd Installment $990,091 3.51% qualified occupancy, Receipt of final cost certification. 4th Installment $250 ,000 0.89% Receipt of IRS Form 8609 . Total : $28,168,183 100% SEVEN fH AVENUE TRAN Si I VILLAGE II PAG E A-8 Mav 2. 2017 153 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT Annual Credits Per Syndication Agreement Total Credits Per Syndication Agreement Calculated HC Rate: Limited Partner Ownership Percentage Proceeds During Construction De f erred Develope r Fe e : ATLANTIC ~ .. PACIFIC AMERINAT $2,561 ,000 $25,610,000 $1.100000004 99.99% $12,496,928 Any payment of developer fee must be mutually approved by the general partner and limited partner. The Applicant will not be required to permanently defer developer fee after stabilization. SEVEN I A AVENUE TRANSIT VILLAGE II PAGE A-9 154 Mav 2. 2017 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT Uses of Funds --. ' ..... 1r1 .,.,.-. ·i.-1r.•L-.w 0 t111-•ith~■•I :,._-,.,. . ,, ~lli.ftlJ.."'11.: ,, .. --rn~-t .. I r. l.O:OJ.., New Rental Units $16,235,195 $18,324,206 $17 ,249,517 Recreationa l Ameniti es $375 ,000 $255,718 $117 ,934 Site Work $0 $0 $753 ,674 Ge.ne.ra I Conditions $0 $1,088,719 $1,088,719 Overhead $0 $362,906 $376,139 Profit $2,323 ,556 $1,088 ,719 $1,108,568 Total Con structi on Contract/Co s ts $18,933 ,750 $21,120,268 $20,694,551 Ha rd Cost Conti neency $1,0 7 4 450 $1,043,228 $348,555 Other: P&P Bonds outside contract $0 $155,981 $155,981 Other: Total Other Fees I n contract $0 So $170,000 Other: Cumulative Cha ni:?e Order s $0 $0 $694,672 Total Construction Costs: $20,008,200 $22,319,477 $22,063,759 Notes to Actual Construction Costs: 1•1 ,.~ .. $172,495 $1 ,179 $7 ,537 $10,887 $3,761 $11,086 $206 ,946 $3,486 $1,560 $1,700 $6,947 $220,638 ATLANTIC ~._PACIFIC AMERINAT 1.:1•r.T:lH;J1,11=-1 -.afL.,~, $618,572 $0 $0 $0 So $0 $618,572 $0 $0 $0 $0 $618,572 1. A Standard Form of Agreement Between Owner and Contractor where the basis of payment is the Cost of the Work Plus a Fee with a Guaranteed Maximum Price in the amount $20,864,551 (the "Construction Contract") has been provided . The Construction Contract was entered into as of August 25, 2016 and is executed by the Applicant and Atlantic Pacific Community Builders, LLC (the "General Contractor"). It contains a production schedule indicating completion within 480 days from the date of commencement . Article 1 of the Construction Contract states that the parties acknowledge and agree that prior to the date of the Construction Contract, the parties executed a Fixed Price Agreement dated February 2, 2016. The Contractor and Owner agree to void and cancel the Fixed Price Agreement and any work performed shall be considered work under the new Construction Contract and is subject to the terms and conditions contained therein. The Applicant and General Contractor executed Change Order #1, which amended the schedule of values from the Fixed Price Agreement to decrease costs by $171,001 from $21,035,552 to 20,864,551, which is the maximum guaranteed price of the Construction Contract. The Applicant and General Contractor executed Change Order #2, which amended the schedule of values to increase costs by $694,672 to $21,559,223. AmeriNat's review of the revised schedule of values concludes the General Contractor's Fee (consisting of general conditions, overhead, and profit) does not exceed 14.00% of actual construction costs as allowed by the RFA. The GC fee stated herein is for credit underwriting purposes only, and the final GC fee will be determined pursuant to the final cost certification process as per Rule Chapter 67-48. Retain age of ten percent (10%) is to be withheld from the General Contractor's application for payment until the Development is 50% complete, at which time, the Owner may reduce retainage to 5% on all remaining payments thereafter. According to the Construction Contract, after 50% completion, the General Contractor may request payment for up to one-half of the retainage held by the Applicant for subcontractors who have completed their work, subject to the Applicant's, Lender's, and Surety's written consent . 2. A Plan and Cost Review ("PCR") was engaged by AmeriNat and performed by Varian Associates, P.A. ("Varian"). Varian summarized their review of the schedule of values in a PCR dated November 4, 2016. The review concludes that the Development's hard cost budget for residential and retail space equates to $170 per adjusted square foot ("asf") which is comprised of $158 per asf for building construction and $12 per asf for site development. Recently constructed Florida multifamily residential structures report an overall hard cost range of $94 to $153 per asf with a median of $124 per asf and a range of $84 to $141 per asf with a median of $113 per asf for building construction -----;5.....re~vttE-NTf1AV£NU .... E ..... T ..... R ..... A .... N-s1 .... r-v~·, ..... ttA__,G...,.E .... , ..... , ----------------pA-G,...E .......... A---lo--155 Mav 2. 2017 ATLANTIC ..llll.._PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT only. By comparison, the Development's total hard cost budget is nearly 25% above average . Varian indicates these higher than average costs are due to the Development's unique design and construction requirements, including a recreation deck that occurs atop the parking deck, east of the structure. This plaza includes a swimming pool. Structural costs are increased for framing and reinforcement of the pool basin . Decorative demi-balconies do not contribute any area to the building, but must be constructed and equipped with railings. Impact resistant windows have been incorporated into the specifications . Varian states there is no other obvious reason for a higher than normal building construction costs . 3. Total Other Fees in the Construction Contract include Site Security ($110,000) and a Scheduler ($60,000). 4 . The Development will consist of 100 affordable housing units as well as approximately 4,500 square foot in two spaces that is designated as retail space . AmeriNat has underwritten the construction (hard) costs of the retail space entirely as HC ineligible costs. 5. A 5% hard cost contingency was utilized by AmeriNat and is supported by the plan and cost review. The hard cost contingency has been reduced by $694,672, which is the amount approved in Change Order #2. 6. The General Contractor provided a Payment and Performance Bond ("P&P Bond") dated February 2, 2016 in the amount of $21,535,552 . Berkshire Hathaway Specialty Insurance Company is providing the surety and is rated A++ by the AM Best & Co. The cost of the P&P Bond was excluded from the Construction Contract's schedule of values . ----.. '" .. •f'Jllill.lfflJ'JI~ .•H~ -C,:;;:h lf:J!.f••'-141111111.. t1,1,1=:11 ■•-•1r....,L.."'\I •.. :111•-:•1.,-.: ,;,. ;'"" l 9';t .,.,. ::,1• :1u1• ;=Jm , ... ·~.,_., n11l ■a!, .. ..,a.....::11 ♦U • ··• - Accounting Fees $40 000 $40,000 $40,000 $400 $10,000 Appraisal $16,000 $6,820 $6.820 $68 $0 Architect's Fee -S!te/Bu i ldin2. Design $450,000 $505,500 5452,750 $4,528 $0 Architect's Fee• Suoenii sfon $100 ,000 $140,000 $57,750 $578 $0 Buildinl? Permits $234 .338 $226,466 $226,466 52.265 $0 Bu il der 's Risk Insurance $185,588 5109,311 $109 ,311 $1,093 $0 Envi ronmenta I Report $25,000 $2,725 $2 ,725 $27 $0 FHFC Adm i nistrative Fees $230,490 $230,490 $230,490 $2,305 $230,490 FHFC Atml !cation Fee $3 ,000 $34,000 $3,000 $30 $3,000 FHFC Cred it Underwriting Fee $11,511 532,526 $13,177 $132 $13,177 FHFC HC Comp li ance Fee (HC) $205,690 $205,690 $196,212 $1,962 $196 212 Impact Fee $221,500 $200,963 $200,963 $2,010 so Lender lnsoecti on Fees/ Const Admin $180,000 $144,955 $144,955 $1,450 $0 Insurance $30,000 $53 ,000 $53,000 $530 $0 Lel!al Fees $465,000 $336,000 $336,000 $3 ,360 $336,000 Market Studv $15 ,000 $5,500 $5,500 $55 $0 M arketi ng and Adver tising $50,000 $50,000 $50,000 $500 $50,000 Plan and Cost Review Analvsis $0 So $5,950 $60 $0 Propertv Taxes $70,000 $54,500 $54 ,500 $545 $54,500 Soil Test $15,000 $6,000 $6,000 $60 $0 Sta rt-U o/Lease-uo Expenses $0 $65 940 $65 ,940 $659 So Survey $75,000 $23 ,575 $23,575 $236 $0 Title Insurance and Recordinl! Fees $172,281 $160,877 $94,284 $943 $89,284 Utilitv Connec ti on Fees $124,850 $173 ,571 $173,571 $1 ,736 $0 Soft Cost Conti r,gencv $0 $95,526 $127,646 $1,276 $0 Total General Development Costs: $2,920,247 $2,903,935 $2,680,585 $26,806 $982,663 Notes to the General Development Costs : SEVENTH AVENUE TRANSIT VILLAGE II PAGE A-11 1\11,:ou '> '>n1 7 156 ATLANTIC _.f._PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT 1. AmeriNat reflects actual costs for the appraisal, market study, and plan and cost review analysis. 2. AmeriNat reflects the costs associated with the Architect's fees as stated in an executed AIA B108 Standard Form of Agreement between Owner and Architect dated February 3, 2016 between the Applicant and Corwil Architects, Inc., which was reviewed by the Underwriter. The Architect Agreement is inclusive of $17,750 for Civil Engineering . 3. The Administrative Fee is based upon a fee equal to 9% of the annual HC allocation recommendation made herein. 4 . The FHFC Credit Underwriting Fee includes the HC Program Fee ($11,661), the Preliminary Recommendation Letter Fee ($1,516) and Credit Reporting Fee ($300). 5. A soft cost contingency of 5% has been underwritten, which is consistent with underwriting standards and may be utilized by the Applicant in the event soft costs exceed these estimates as permitted by the Rule . 6. The remaining general development costs appear reasonable . -~ 11~1,,,.,, ...... ~ ., "·'•:. --~· Ii. . , .... l91~1--,1:J.-•il1tUI -. '' . , ... 'lrt -;•••tL"ll=NIUll~t llr1h~_.-;a,•[J:t Construction Loan Application Fee $10,000 $10,000 $10 ,000 $100 $0 Constructi on Loan Ori l!i nati on Fee $168,921 $120,800 $120,800 $1,208 $0 Co nstructi on Loan Closing Costs $35,084 $10,000 $10,000 $100 $0 Construction Loan Interest $961,229 $255,090 $302,966 $3,030 $151,943 Permanent Loan Ori l!i nation Fee $9,441 $13,100 $13,100 $131 $13,100 Permanent Loan Closing Costs $2,832 s1s,ooo $15,000 S1so $15,000 Misc Loan Closing Costs $0 $100,000 $100,000 $1,000 $0 Reserves -Operating Deficit $331 ,238 $332,568 $332,568 $3,326 $332 ,568 Total Financial Costs: $1,518,747 $856,558 $904,434 $9,044 $512,611 Notes to the Financial Costs 1. Financial costs were derived from the representations illustrated in the Promissory Note for the Construction Loan, Commitment Agreement for the Permanent Loan, and LPA for equity and appear reasonable to AmeriNat. 2. An interest reserve for the Construction Loan is supported by the Construction Loan terms illustrated in the Promissory Note, the duration of construction referenced in the Construction Contract and the resultant calculation completed by AmeriNat through use of a construction draw schedule provided by the Applicant. 3. The LPA requires a $332,568 operating deficit reserve account be funded at the time of funding the Stabilization Capital Contribution (Equity Installment #3). At the end of the compliance period, any remaining balance of the ODR less amounts that may be permitted to be drawn (which includes Deferred Developer Fee and reimbursements for authorized member/partner and guarantor loan(s) pursuant to the operating/partnership agreement), will be used to pay FHFC loan debt; if there is no FHFC loan debt on the proposed Development at the end of the compliance period, any remaining balance shall be used to pay any outstanding FHFC fees. If any balance is remaining in the ODR after the payments above, the amount should be placed in a Replacement Reserve account for the Development. In no event shall the payments of amounts to the Applicant or the Developer from the Reserve Account cause the Developer Fee or General Contractor Fee to exceed the applicable percentage limitations provided for in the Rule. Any and all terms and conditions of the ODR must be acceptable to Florida Housing, its Servicer and its legal counsel. SEVENTFt:tnlENUE TRANSIT VILLAGE II PAGE A-12 Mav 2. 2017 157 ATLANTIC ..!._PACIFIC --~-...... ,,,,,_ HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Development Cost Before Developer Fee and Land Costs $24 447,194 $26,079,970 $25,648,778 $256,488 $2,113,846 Devel o er Fee $3,858,000 $4,11 9,585 $3,404,695 $34,047 $0 Total Other Develo ment Costs: $3,SSs,ooo $4,119,585 $3 ,404,695 $34,047 $0 Notes to the Other Development Costs: 1. Total Developer Fee of $3,404,695 does not exceed 16.00% of the Total Development Costs less the Operating Deficit Reserves, as allowed by the Rule. 2. Per the RFA, FHFC limits the TDC per unit to a figure based on the average cost to deliver new construction units and rehabilitation units. Based on the Application, the Applicant indicated the Development is a new construction, high rise, concrete development and as such is limited to a TDC of no more than $280,100 per unit. Applying the 1.8% escalation factor allowable for the Development Category of new construction, high rise, concrete, the maximum TDC per unit cost is $285,142. Based on the underwritten TDC, exclusive of land costs and Operating Deficit Reserve, the cost per unit for the Development was $293,688. In accordance with the RFA, AmeriNat reduced the Developer Fee by $645,898 from $4,050,593 to $3,404,695, which reduced the TDC per unit to $287,209, which is within the 5% margin that allows the Development to receive a positive recommendation . Land Lease Pa ment $320,620 $320,620 $320,620 53 ,2 06 $320,620 Total A uisition Costs: $320,620 $320,620 $320,620 $3,206 $320,620 Notes to Land Acquisition Costs: 1. AmeriNat received and reviewed a Sublease dated December 5, 2013 between the Applicant and APC Seventh Avenue Holdings, LLC ("Sublessor"). The sole managing member of the Landlord is an entity related to the Developer. The lease is for a term of 65 years with two extension options for fifteen years each. The Applicant is to make a lump sum lease payment equal to $320,620, which is the amount remaining from the minimum rent as defined in the Master Lease between Miami-Dade County and Carlisle Development Group, LLC, whose rights were assigned to APC Seventh Avenue Holdings, LLC. The Master Lease required a minimum rent payment equal to $3,772 per unit for a minimum of 161 residential units. Audrey M . Edmonson Transit Village made an initial rent payment of $286,672 for the 76 units including in the initial phase of the development. 2. An Appraisal performed by Meridian identifies an "As Is" market value of the ground leasehold interest of the real estate as of October 26, 2015 is $2,180,000. The lesser of the lease payment and market value was used for underwriting purposes. TOTAL DEVELOPMENT COSTS: I $28,625,814 / $30,520,175 I $29,374,093 I $293,741 $2,434,466 Notes to Total Development Costs: 1. Total Development Costs have increased by $748,279 from $28,625,814 to $29,374,093 since the Application due to increases in construction costs. ---SEVf"Nfl-tAVE-NttE~Nffl--V ltt:AuE-;1+-f ----------------PA.,..G-E """A~-1,...,_- May 2, 2017 158 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT OPERATING PROFORMA ::11,•,~1,1 1 ■1_•~ OPERATING PRO FORMA Gross Potential Renta l Income $767,640 Rent Subsid y (ODR ) Li.i Othe r Income ~ Ancilla ry Income $24,000 8 Gr oss Potenti al Income $791,640 ~ Less : Ph vs i ca I Va c. Loss Percenta ge : 4 .00 % $31,666 Collection Loss Percenta ge : 1.0 0% $7,916 Total Effective Gross Income $752,058 Fixed : Re a l Es t ate Taxes $54,543 Ins ura nee $55,000 Va riable : Mana g ement Fee Percenta ge : 6.00% $45,123 Ill Genera I a n d Adm in is tra ti ve LI.I $42,500 Ill Pa yro ll Exp en s es $130,000 z Iii.I Uti lities $92,500 a. >< LI.I Marketin R and Adverti sin g $5,000 M a intenance and Repairs /Pe st Control $40,000 Gro und s Ma i ntenan ce and Land s ca ping $15,000 Contra ct Services $30,000 Securi ty $40,000 Reserve for Re p la ceme n ts $30,000 Total Expenses $579,666 Net Operating Income $172,392 Debt Service Payments First Mo rtgage -Wells Fargo $77,981 Total Debt Service Payments $77,981 Ca sh Fl ow afte r Debt Se rvice $94,411 ';tr,1TF.1 l Debt Service Coverage Ratios DSC-Fi rst Mortgage 2.21 Financial Ratios Ope r ating Expense Ratio 77.08% Break-even Economic Occu p ancy Ra t i o (a 11 deb t ) 83.07% SEVEN I A AVENUE TRANSll VILLAGE II Mav 2. 2017 ATLANTIC ~ .. PACIFIC AMERINAT i='"-,~T,.;;..1 $7,676 $0 $0 $240 $7 ,916 $317 $79 $7,521 $545 $550 $451 $425 $1,300 $925 $50 $400 $150 $300 $400 $300 $5,797 $1,724 $780 $780 $944 ~'.ID'nil 2.21 PAGE A-14 159 ATLANTIC ~ .. PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Notes to the Operating Proforma and Ratios: 1. As restricted by the HC program, 90% of the units (90 units) will be set aside for households earning 60% or less of the Area Median Income ("AMI"), with 10% of the units (10 units) further restricted as ELI units at 33% or less of AMI. Gross potential rental revenue is based upon the maximum gross LIHTC rents per the Florida Housing website for 2016. The utility allowance is $88 for the one-bedroom units based upon a utility allowance schedule from the U.S. Department of Housing and Urban Development effective January 1, 2015. The appraisal confirms the Development's ability to achieve 2015 maximum restricted rents for the 33% and 60% of the AMI units based upon current market conditions. A rent roll for the Development property is illustrated in the following table: MSA (County): Miami-Fort Lauderdale-Pompano Beach MSA (Miami-Dade) Low High RD/HUD Bed Bath Square GrossHC HOME HOME Utility Cont NetHC Applicant Appraiser Annual Rental Rooms Rooms Units Feet AMI% Rent Rents Rents Allow Rents Rent Rents Rents CU Rents Income 1.0 1.0 10 652 33% $419 $0 $0 $88 $0 $331 $331 $331 $331 $39,720 1.0 1.0 90 652 60% $762 $0 $0 $88 $0 $674 $674 5674 $674 $727,920 100 65200 $767,640 2. A 5 .0% total economic vacancy rate (4.00% physical and 1.00% collection loss) was concluded by the appraisal and was relied upon by AmeriNat for underwriting purposes. 3. Other Income is comprised of fees associated with vending income, late charges, pet deposits, forfeited security deposits, and other income related to multifamily operations. 4 . AmeriNat utilized a real estate tax expense of $545 per unit based upon the current millage rate for the municipality and an estimated assessment of $24,250 per unit presented by the appraiser. The estimate also took into account the income restrictions of the Development. Comparable properties indicated a range of assessments from $15,689 to $43,094 per unit. 5. AmeriNat utilized an estimate of $550 per unit for insurance, which is consistent with the appraisal. The figure used is consistent with insurance expenses for restricted rent comparables presented by the appraiser, which ranged from $432 to $712 per unit. The Development will be located in a flood zone designated "X", which appears to lie outside of the 500-year flood plain and does not require flood insurance. 6. The Applicant has submitted a Property Management Agreement dated January 26, 2016 between Atlantic Pacific Community Management, LLC ("APCM") and the Applicant. The agreement states the initial term will be for one year, but shall be automatically renewed for one year period thereafter unless cancelled by either party. The Agreement provides for compensation to the Management Company in the amount of 6% of the budgeted effective income until the Development achieves 95% occupancy when the compensation will be equal to 6% of the total gross rental collections received during the preceding month, which is consistent with the conclusion of the appraiser. 7. Replacement Reserves of $300 per unit per year are required per the Rule. 8. Based upon an estimated Net Operating Income ("NOi") of $172,392 for the proposed development's initial year of stabilized operations; the first mortgage loan can be supported by operations at a 2.21 to 1 .00 Debt Service Coverage ("DSC"). The Development meets the minimum l.10x DSC requirement with all first mortgages for Housing Credits. ---st-\l ..... 'EN!fH---AVENtf•E-TRAN---.is1HT➔\~·1LH-L-aAtiG.t-t-1-111f-----------------u-pA-GE--A--,1 May 2, 2017 160 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT ATLANTIC ~.._PACIFIC AMERINAT 9 . A 15-year Operating Proforma attached hereto as Exhibit 1 reflects rental income increasing at an annual rate of 2% and expenses increasing at an annual rate of 3%. SEVENTH AVENUE TRANSIT VILLAGE II PAGE A-16 161 I\A,::,u? ?n17 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT Section B HC Allocation Recommendation and Contingencies M;1v ,_ ,n17 ATLANTIC ..!•PACIFIC AMERINAT 162 ATLANTIC ~•PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Housing Credit Allocation Recommendation AmeriNat recommends an annual $2,561,000 HC Allocation. Please refer to Exhibit 3 -HC Allocation Calculation for further detail. Contingencies 1. Purchase of the HC by the Syndicator or its assigns under the terms consistent with assumptions of this report. 2. Receipt of executed FHFC Fair Housing, Section 504 and ADA as-built certification forms 122, 127, and 129. 3. Varian Associates, P.A. will act as Florida Housing's inspector during the construction period . 4. Satisfactory resolution of any outstanding past due and non-compliance issues. 5. Any other reasonable requirements of Florida Housing or its Servicer. SEVENTH AVENUE TRANSIT VILLAGE II PAGE B-1 I\A""" ') ')017 163 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT Section C Supporting Information & Schedules May 2, 2017 ATLANTIC •'-PACIFIC AMERINAT 164 ATLANTIC ~ .. PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Additional Development & Third Party Supplemental Information Appraised Value : Market Study: AmeriNat received and satisfactorily reviewed an appraisal prepared by Meridian Appraisal Group, Inc. ("Meridian") dated December 4, 2015 . The appraisal was executed by Robert Von, a State Certified General Appraiser whose Florida license number is RZ1604. The report estimates the hypothetical market value of the Development's Ground Leasehold interest as if completed and stabilized , subject to unrestricted rents, as of June 26, 2017, is $11,350,000. This conclusion is based on a market capitalization rate of 5.50% and a Net Operating Income derived from market rents and expenses supported by comparable market rate properties within the Development's market. The resulting loan to value is equal to 11 .54% upon stabilization. The report also estimates the hypothetical market value of the Development's Ground Leasehold interest, subject to the rental restrictions under the HC programs as of June 26, 2017 is $3,130,000. This conclusion is a based on a capitalization rate of 5.75% and a Net Operating Income derived from rents restricted by the aforementioned programs with expenses supported by comparable income-restricted properties within the Development's market. The resulting loan to value is equal to 41.85% upon stabilization . The report concludes that the market value of the Ground Leasehold interest in the real estate as of October 26, 2015 is $2,180,000, which supports t he lease of $320,620 . A market study prepared by Meridian dated December 3, 2015 was received and satisfactorily reviewed by AmeriNat. The study concludes, based on market research and demographic analysis, that there is demand for the Development as proposed. Demand in the market is evidenced by the strong capture rates derived from the demographic analysis. Strengths of the Development will include its new construction, quality amenities, and location. The Development will be constructed on an irregular shaped, 0 .66 acre parcel of land. The site is located in the Miami-Miami Beach-Kendall HUD Metro Fair Market Area ("HMFA") in Miami-Dade County with an area commonly known as Liberty City to the west of Interstate 95 and Little Haiti to the east of Interstate 95. Liberty City is a predominately established low income residential area with commercial uses along major roadways. The Little Haiti neighborhood is a growing Haitian commun ity that is characterized by a large number of churches and historic sites. The neighborhood is heavily developed with industrial and commercial uses, as well as educational facilities such as Miami Dade Community College . There are several elementary schools in the neighborhood, two middle schools and Edison Senior High. Employment opportunities are generally limited to the surrounding neighborhood uses, local commercial businesses, and national businesses along U.S . Highway 1 and NW 7th Avenue. The Development's Primary Market Area ("PMA") is considered to be a 10-mile ring centered on the Development . The Development's Competitive Market Area ("CMA") is defined by Meridian as the area containing projects in closest ---SE-VfNTH AVfNtirfR-11,..A-AiNfEcS-t"ll'f"--l'vrH'l+-lLLHAWG;tEHll+--1-----------------e-pA&GmE C-1 May 2, 2017 165 ATLANTIC ~.._PACI F IC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT proximity to the Development with similar income restrictions and demographic commitments; in this case , the CMA represents approximately a four mile ring centered on the Development. Meridian analyzed demographic information for 3-, 5-, and 10-mile rings centered on the Development property, as well as Miami-Dade County. The population growth rate was highest in the Miami-Dade County between 2010 and 2015 at 6.8%, followed by the 5-mile ring at 5 .9%. Projected population growth trends for the PMA indicate a strong rate of growth at 5.9% through 2020. The household growth rate was highest in the 5-mile ring between 2010 and 2015 at 7.8%, followed by the 3-mile ring at 7.6%. Projected household growth trends for the PMA indicate a strong rate of growth at 6.5% through 2020. Overall, about 59.6% of the county's growth is projected to occur within ten miles of the Development over the next five years. The average household size , as of 2015, was largest in the county (2.83 persons), followed by the three- mile ring (2.72 persons). The trend shows a slight decrease in household sizes for each area through 2020 . The median household income in the 3-mile ring ($42,642), 5-mile ring ($46,785), and PMA ($56,875) is lower than the average household income in the county ($63,419) based on 2015 estimates. The overall median household income trend is expected to increase through 2020 in all areas as follows: 2.4% (county), 2.9% (PMA), 3 .2% (5-mile ring) and 3.5 % (3-mile ring). The demand analysis performed by Meridian concludes there were 26 ,575 income-eligible renter households in the PMA, 10,142 in the 5-mile ring, and 3,730 in the three-mile ring as of 2015 . As the Development will have only one- bedroom units, the number of income-eligible, renter households was significantly narrowed to the estimated income-band for potential tenants. To achieve 100% occupancy based on the size of the Development (100 units), this equates to capture rates of 0 .4%, 1.0%, and 2.7%, respectively, in the PMA , S- mile ring, and 3-mile ring . The capture rates indicate that the Development is correctly sized relat ive to the amount of income-qualified rente r households in the market and strong demand exists for affordable rental units. Meridian surveyed comparable developments within the CMA identifying 731 units in six multifamily developments with income restrictions similar to the Development. Of these units, 720 units are occupied; therefore, the weighted occupancy within the CMA is 98 .6%. Meridian estimates that there is a weak case for short term impact by the Development on the exist ing CMA developments not located within one mile due to the overall strength of the market. Meridian estimates there is a moderate case for short term impact on the three existing developments (V i llage Carver I, Notre Dame and Emerald) due to their proximity. According to Meridian, any impact on the existing developments will be short term. Based upon the representations in the market study, it is unlikely there will be a material, negative long -term impact on the CMA developments in the opinion of AmeriNat . Meridian identified four FHFC Guarantee Fund developments located within the PMA of the Development. The market study indicates that occupancy rates ------...,EVENfl+AVENtlf-!fRA-N-Slr-V~IL~LA---.G~E➔l rl-----------------P~A™Gr-.+--E ~C~-2- May 2, 2017 166 ATLANTIC ~-..PACIFIC -1: ............. _ HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT for these properties range from 99% to 100%. Meridian concludes the Development will not have any impact on the Guarantee Fund developments. Meridian concluded the one-bedroom rents would have a market rent of $1,150, which exceeds 110% of the maximum HC rent as required by the Rule. The projected market rents are generally 171% greater than the 2016 maximum restricted rents at the 60% AMI level and 347% greater than the 2016 maximum restricted rents at the 33% AMI level. Meridian identified eleven developments in north and central Miami that were constructed and leased up in the past two years. Meridian confirmed a range of average absorption rates between 32 and 89 units per month. Meridian concludes the Development will absorb approximately 43 units per month for an absorption period of approximately four months. Environmental Report : A Phase I Environmental Site Assessment ("ESA") was performed by Hydrologic Associates U.S.A., Inc. ("HAI") and their assessment was compiled in a report dated September 28, 2015. The ESA was conducted in accordance with ASTM Practice E1527-13 and was conducted to provide a professional opinion regarding recognized environmental conditions ("REC") associated with the proposed site. Soils Test Report : The site visit was conducted by HAI on August 12, 2015. No indications of Underground Storage Tanks, Aboveground Storage Tanks ("AST"), hazardous materials/waste, surface staining, stressed vegetation, or other underground structures that would be considered a recognized environmental condition were noted on the site. HAI found the site was formerly used as a Cadillac Service Center/Goodyear Service Store from 1957 to 2009 where hazardous materials/waste storage areas were located within the site including a 250-gallon AST of waste oil. The former facility was inspected in January 1993 when a discharge of used mop water was observed into a nearby storm water catch basin. The Miami-Dade County Department of Regulatory and Economic Resources-Division of Environmental Resources Management's ("DERM") ordered the former facility owner to cease discharging used mop water, conducted soil tests and determined no further action was required. A review of the environmental regulatory databases found seven properties, primarily consisting of gas stations and dry cleaning businesses, were identified as potential offsite REC that may potentially impact the groundwater. However, the results of the previous Phase II ESA dated February 27, 2013 indicated that these facilities did not impact the soil and groundwater quality of the subject site. Based on the regulatory information reviewed; and the distance and/or direction of these listed facilities from the subject site, HAI determined they are not RECs. HAI recommends no further assessment. NV5, Inc. {"NVS") completed a geotechnical exploration of the Development's site and compiled their findings in a report dated October 5, 2015. The report summarizes NVS's field exploration and presents their findings, conclusions, and geotechnical engineering recommendations. SEVEN1 A AVENUE I RANSI I VILLAGE II PAGE C-3 Mav 2. 2017 767 ATLANTIC ...,._PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Plan & Cost Review : The field exploration consisted of performing four (4) engineering test borings drilled to depths of 50 and 60 feet below existing grade . Samples of the subsurface materials were recovered at roughly 2-foot intervals within the upper 10 feet of the borings and approximately 5-foot intervals thereafter using a standard penetration tests ("SPT") split-spoon sampler in accordance with ASTM D-1586. The test borings revealed the soils underlying the Development site consist primarily of four layers as follows: i) surficial fill and loose sand to a depth of approximately 2 to 4 feet; (ii) a thin limestone layer that ranges in thickness from 2 to 6 feet; (iii) a medium-dense sand layer that is 30 to 40 feet thick; (iv) very soft to medium hard limestone to the termination depth of the borings. Groundwater was noted in the boreholes at depths that ranged from 9.0 to 11.5 feet below the ground surface. Fluctuations in groundwater level on this site should be anticipated throughout the year due to a variety of factors, the most important of which is seasonal rainfall. The report provides recommendations based on the testing and analysis performed for site preparation and related construction. The detailed recommendations outlined by NV5 should be incorporated into the Construction Contract . A Plan and Cost Review was engaged by AmeriNat and performed by Varian Associates, P.A . ("Varian"). Varian summarized their findings, conclusions and recommendations in a PCR dated November 4, 2016. Varian concludes the building as designed is in substant ial compliance with the guidelines requirements for new construction of non-elderly housing. Varian reviewed the Construction Contract between the Owner and the Contractor where the basis of payment is the cost of the work plus a fee of a guaranteed maximum price in the amount of $20,864,551. The Construction Contract contains a provision that all work shall be completed within 480 days, which Varian found to be adequate. Retainage of ten percent (10%) is to be withheld from the General Contractor's application for payment until the Development is 50% complete , at which time, the Owner may reduce retain age to 5% on all remaining payments thereafter. Varian concludes that the Development's hard cost budget for residential and retail space equates to $170 per adjusted square foot ("asf") which is comprised of $158 per asf for building construction and $12 per asf for site development. Recently constructed Florida multifamily residential structures report an overall hard cost range of $94 to $153 per asf with a median of $124 per asf and a range of $84 to $141 per asf with a median of $113 per asf for building construction only. By comparison, the Development's total hard cost budget is nearly 25% above average. Varian indicates these higher than average costs are due to the Development's unique design and construction requirements, including a recreation deck that occurs atop the parking deck, east of the structu r e. This plaza includes a swimming pool. Structural costs are increased for framing and reinforcement of the pool basin . Decorative demi- balconies do not contribute any area to the building, but must be constructed and equipped with railings. Impact resistant windows have been incorporated SEVENTH AVENUE I RANSIT VILLAGE II PAGE C-4 Mav 2. 2017 168 ATLANTIC ~ .. PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT into the specifications. Varian states there is no other obvious reason for a higher than normal building construction costs. Varian reviewed the construction schedule that was provided with the Construction Contract documents. The construction progress schedule submitted for review shows a 13 month duration, which Varian concludes is plausible without night and weekend work at premium rates. Varian's PCR concluded with the following recommendations: 1. The budgeted cost for "Forming11 should be broken down into subcategories for accurate tracking during construction phase. 2. The Electrical subcontract agreement should be submitted for review. 3. The Owner should provide documentation of the green building criteria to be achieved, and demonstrate the necessary professional resources are in place to accomplish the goal. Varian provided Addendum 1 to the PCR, dated January 16, 2017, to address their recommendations. The addendum reviewed additional plan and budget information supplied by the Applicant. 1. The value of the "Forming" line item has increased 10% above the prior budget. The subcontract agreement executed with MJM Structural Contractors ("MJM 11 ) was reviewed. The lump sum value ofthe agreement is $4,536,745.00. The "Forming11 line is valued at $4,929,952.18 on the Contractor's most recent Pay Application No. 9. Concrete and reinforcing steel materials are being purchased directly by the Owner and supplied to MJM for construction. The value of these materials are listed on separate line items. The shell construction is substantially complete at this point. Varian was informed that MJM has performed as required. 2. The subcontract agreement with CG Electrical and Consulting Services, Inc., dated July 26, 2016 carries a subcontract sum of $1,947,922.00. This amount is slightly higher than the original budget, but less than the current payment application line value of $2,315,667 .64. The electrical subcontract agreement includes an Exhibit A "Scope of Work11 • The scope of work indicates a comprehensive electrical installation including fire alarms, low voltage, emergency generator and primary service to be provided for the lump sum amount. Varian could not determine why the electrical costs for this project have exceeded the normal range for similar multi-family apartment construction. 3. The project is required to meet applicable National Green Buildings Standards for Certification . Varian was provided with a letter dated October 26, 2016, prepared by Abney and Abney Green Solutions. Kyle Abney, a Certified NGBS Green Verifier will be responsible for reviewing the plans and obtaining the certification. On November 3, 2016, Home Innovation Research Lab issued a letter certification for the Seventh Avenue Transit Village Phase II project. SEVENTH AVENUE TRANSIT VILLAGE II PAGE C-5 I\Ae:n, ? ?n17 169 ATLANTIC ...,._PACIFlC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT ADA Accessibility Review Features, Amenities & Resident Programs: Site inspection: An ADA Accessibility Review was performed by Varian as part of the Plan & Cost Review engagement with AmeriNat. Executed Florida Housing Fair Housing, Section 504 and ADA Design Certification Forms 121, 126, and 128 certifying that the plans for the Development comply with these requirements have been received . The Applicant committed to provide certain Features and Amenities in accordance with the Application under RFA 2014-116. These commitments are set forth in the attached Exhibit 2. The final plan and cost review confirmed the features and amenities were to be constructed at the proposed development according to the construction documents. A site inspection was performed by the AmeriNat on September 18, 2013 that identified the subject site and the commercial and retail uses within the neighborhood and county that are consistent with those reported within the market study . Varian provided a Progress Evaluation Report dated January 9, 2017. Varian performed the site observation on November 30, 2016 and observed the Development to be approximately 45% completed. Varian noted the construction work performed to date appears to conform to local construction industry practices. Varian reviewed two change orders that were executed to date. According to the developer's representative, Change Order No. 1 was issued to "correct" the contract amount. Change Order No. 2 lists 11 change requests. Varian was not provided with backup documentation for the individual change order requests. Amongst other changes, an increase of $136,240.00 was made to "Steel Revisions", swimming pool changes contributed $187,097.40 in increased costs, the electrical costs increased by $104,224.25, and changes to the storefront sliding glass doors and windows added $68,533.50. The net increase as indicated on the G702 Document of $523,670.86 appears to be correct as the sum of change orders issued. SEVENTH AVENUE TRANSIT VILLAGE II PAGE C-6 170 ATLANTIC ~.._PACIFIC _, ..... _._~ft111- HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Borrower Information Borrower Name: Borrower Type : Ownership Structure : Seventh Avenue 11, Ltd . A Florida limited partnership The Borrower is a Florida limited partnership formed as of December 6, 2010 to construct, own, and operate the Development. Seventh Avenue II GP, LLC, a Florida limited liability company, is the Managing General Partner ("MGP") of the Borrower with a 0.01% ownership interest. Co-members of the MGP are APC Seventh Avenue 11, LLC ("APCSA") with a 49% ownership interest and BAME Seventh Avenue, LLC with a 51% ownership interest . APCHD MM Inc., a Delaware corporation, is the 1.00% member/manager of APSCSA and the Howard D. Cohen Revocable Trust U/A/D 4/6/1993 ("HOC Trust") is the remaining 99.00% owner. The sole trustee and beneficiary for both APCHD MM, Inc. and HOC Trust is Howard D. Cohen. BAME Development Corporation of South Florida, Inc., a Florida 501(c)(3) Non-Profit Corporation, is the sole shareholder of BAME Seventh Avenue, LLC. HOC Trust or its assignee functions as the current 99.99% limited partner in the transaction. At closing, an affiliated limited partnership of Wells Fargo Bank, N.A. will purchase a 99.99% limited partnership interest in the Borrower. The organizational structure of the Borrower is as follows: SEVEN rH AVENUE I RANSI I VILLAGE II PAGE C-7 Mav 2. 2017 171 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT ATLANTIC _..,._PACIFIC AMERINAt····""'- Seventh Avenue II, Ltd . Seventh Avenue II GP, LLC (0.01% General Partner) ells Fargo Bank, N.A. o its assigns (99.99% Limited Partner) APC Seventh Avenue 11, LLC BAME Seventh Avenue, LLC (49% Member) (51% Member) APCHD MM, Inc . (1.0% Member) Howard D. Cohen Revocable Trust U/A/D 4/6/1993 &/or assigns L BAME Development Corporation of South Florida, Inc. L (99 .0% Member) Howard D. Cohen Revocable Trust U/A/D 4/6/1993 &/or assigns L Howard D. Cohen (Sole beneficiary) (100% Shareholder) L Howard D. Cohen (Sole beneficiary) (Sole Member) Copies of the Articles of Incorporation and/or Organization have been provided on each of the ownership structures entities listed above . Contact Person(s): Applicant Address: Federal Employer ID: Elizabeth Wong lwong@apcommunities.com Telephone: (305) 357-4700 Facsimile: (305) 476-1557 2950 SW 27th Avenue, Suite 200 Miami, FL. 33133 27-4174452 ---.S'"E-ViN TH AVEN~,,-,A""'G1-1aE-t-l1-I ----------------...,Pp<,KAGE C 8 May 2, 2017 172 ATLANTIC •'-.PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Experience: Seventh Av en u e II , Lt d . ("Borro w er" or "App li ca nt"): A single-asset entity ("SAE 11 ) created for the sole purpose of acquiring, owning, and operating the Development . Seventh Av en ue II GP, LLC ("General Partner11 ): An SAE that was created as of August 20, 2014 to serve as the General Partner of the Applicant. APC Se v enth Av en ue II, LLC: An SAE f/k/a COG Seventh Avenue 11, LLC, was created as of December 1, 2010 to serve as the Managing Member of the General Partner. The name change for the entity was filed as of September 18, 2013. APCHD M M, Inc.: An entity that was created September 3, 2013 to engage in any lawful activity for which corporations may be organized under the General Corporation Law of the State of Delaware. An experience chart provided by the Applicant reflects the entity was involved in the development of 11 multifamily developments located in Texas, Florida, or Washington, D.C. BAM E Sev ehth Avenue, LLC: An entity that was created February 27, 2013 for the development of Aubrey M. Edmondson Transit Village and the Development. BAME Devel o p m ent Co r poration of So uth Florida , Inc. (11 BAME 11 ): BAME, a Florida Not-for-Profit Corporation, is based in Miami, Florida and was formed March 27, 1992 . BAME offers real estate development services focusing on low- to-moderate income groups. BAME presents little multifamily development ownership experience and limited financial capacity; however, BAME is a co - developer for the transaction . BAME was included in the partnership in order to preserve the tax-exempt status of the GOB loan, which was fully utilized to construct Phase I. APC Seventh Avenue II Development, LLC ("APCSAD 11 ): The entity f/k/a Seventh Avenue II Development, LLC, a Florida limited liability company, is a co- developer in the transaction . The entity was originally formed o_n December 1, 2010 and filed paperwork memorializing its name change as of September 18, 2013. Its managing member with a 99 .99% ownership interest is Atlantic Pacific Communities, LLC ("APC 11 ), a Delaware limited liability company. Kenneth Naylor and Elizabeth Wong are additional members with a 0.005% ownership interest each. The members of APC are Howard D. Cohen Trust (with Howard D. Cohen as sole trustee and beneficiary), Kenneth J. Cohen, Stanley D. Cohen, and Randy Weisburd. Howard D. Cohen: Howard D. Cohen serves as the President and Chief Executive Officer of AP C's parent company, Atlantic Pacific Companies ("AP Companies"), and has served in this position fo r more than 15 years . Mr. Cohen's role includes the oversight of all affiliated companies, managing the company's investments and creating strategic partnerships . SEVE NT H AV ENU E TRA NSIT VILL AGE ll PAG E C-9 M;:iv 7 . 7017 173 ATLANTIC ~•PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Credit Evaluation : Mr. Cohen practiced with the law firms of Ruden Mcclosky, P.A. and Becker & Poliakoff, P.A., as a senior real estate attorney specializing in commercial real estate, financing and lending transactions. Mr. Cohen has more than 20 years of real estate investment, real estate law and management expe r ience. Mr. Cohen received his Bachelor of Science degree from Cornell University and his Doctorate of Jurisprudence from the University of Miami. Stanley D. Coh en : Sta nley D. Cohen is a man aging pa rtner of AP Companies and serves as the Executi ve Vice President of t he West Coast division . Mr. Cohen su p erv ises the day-to-day operations of the corporate offices based in San Di eg o . Mr. Cohen is also active in the man age ment of the family-o wned rental communities based in California . Mr. Cohen received his Bachelor of Science degree from Duke University and his Master of Business Administration from the University of California of Los Angeles. Mr. Cohen has been involved in real estate for over 15 years and has held a California Real Estate Broker's License since 1998. Kenne t h J. Coh en: Kenneth J. Cohen is a managi ng partner of AP Compan ies and serves as t he Chief Financial Officer. Mr. Cohen manage s the fi na n cial opera t ions an d r epo rting for t he corp orate co mpa n ies wh ile also overseeing all daily acc o unting activities for famil y-owned re ntal co mmunities includi ng recei vables, pa ya ble s and payro ll. M r . Cohen is add itio na ll y resp o nsib le for creating and maintaining site level budgets. Mr. Cohen previously was a staff member of Kenneth Leventhal & Company, a national accounting firm specializing in the real estate industry. Shortly after, the firm merged into Ernst & Young, LLP and Mr. Cohen completed his tenure as a member of the Senior Tax department. Mr. Cohen worked within both the audit and tax departments of Ernst and Young. Mr. Cohen graduated Cornell University with a Bachelor of Science in Hotel & Restaurant Administration and received a Master in Professional Accounting degree from the University of Texas at Austin. He is also licensed in the State of Florida as a Certified Public Accountant. The Applicant, General Partner, APC Seventh Avenue II, LLC, APCHD MM, Inc., and BAME Seventh Avenue, LLC are single purpose entities with no credit history. APCSAD is newly formed and does not have any credit history. A Dun & Bradstreet Business and Information Report ("D&B") was requested for these entit ies but no information was available. BAME: A D&B dated November 29, 2016 was obtained for BAME . The composite credit appraisal shows the probability of delinquent payments at the higher risk range compared to the average of businesses in the D&B database . The DNBi report reflects 12.5% of trade experiences with BAME are slow or negative pay men t s; however, no pa ym ent i nfor mation was available for BAME over the prio r three months . On Ap r il 1 7, 2009 , the 11th Judicial Circuit Court in SEVENTH AVENUE TRANSIT VILLAGE II PAGE C-10 174 ATLANTIC •~PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Banking References: Financial Statements: and for Miami-Dade County ordered BAME to pay damages plus interest totaling $127,649.63 to Donclay Construction, Inc . A satisfaction to the judgement was filed August 14, 2009. No further suits or liens were reported . Howard D. Cohen: An Experian Credit Profile Report was performed on Howard D. Cohen as of November 29, 2016, which showed no derogatory items. All items either have been paid satisfactory or are current. Stanley D. Cohen: An Experian Credit Profile Report was performed on Stanley D. Cohen as of November 29, 2016, which showed no derogatory items. All items either have been paid satisfactory or are current. Kenneth J . Cohen: An Experian Credit Profile Report was performed on Kenneth J. Cohen as of November 29, 2016, which showed no derogatory items. All items either have been paid satisfactory or are current. AmeriNat has not verified deposits for the Applicant, General Partner, APC Seventh Avenue II, LLC, BAME Seventh Avenue, LLC and APCHD MM, Inc. as they do not represent any liquid assets. BAME: AmeriNat received a bank statement dated October 31, 2016 reporting liquidity held by Wells Fargo Bank, N.A. that confirms deposits in an amount that are consistent with the financial statement. Howard D. Cohen: AmeriNat received various bank and brokerage account statements dated October 31, 2016, that confirm deposits in the high seven figures, which is consistent with the provided financial statement. Stanley D. Cohen : AmeriNat received various bank and brokerage account statements dated October 31, 2016, that confirm deposits in the mid eight figures, which is consistent with the provided financial statement. Kenneth J. Cohen: AmeriNat received bank statements dated October 31, 2016 that illustrate liquidity held by Wells Fargo Bank, N.A. in the mid-eight figures, which is consistent with the financial statement that was provided for Mr. Cohen. The General Partner, APC Seventh Avenue II, LLC, and APC Seventh Avenue II Development, LLC provided balance sheets dated November 28, 2016, that represents having no assets or liabilities. APCHD MM, Inc . represents having no assets or liabilities based on the fact it is a pass-through entity and its assets and liabilities are represented in Mr. Howard Cohen's financial statement. AmeriNat received and reviewed the 2014 and 2015 U.S. Tax returns and no business income was reported in either year. BAME Seventh Avenue, LLC provided a letter dated July 27, 2016, executed by its President, Reverend Willie J. Cook, that states the entity does not have any financial statements. SEVENTH AVENUE TRANSIT VILLAGE II PAGE C-11 175 ATLANTIC A!.._PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT Applicant Octobe r 3 1, 20 16 Cash and Equ ivalents Total Assets Total Liabilities Net Equity AMERINAT (Unaudited) $ 907 $ 197,907 $ 197,907 $ 0 The financial information is based upon internally prepared financial statements for the period ending October 31, 2016 . The company's primary asset is Work in Progress totaling $197M . The company's primary liabilities are a note payable and accounts payable. The Applicant provided a letter dated July 27, 2016, executed by Howard D. Cohen that states tax returns have not been prepared for the entity. BAME Development Corporation of South Florida, Inc. June 30 , 2015 (Unaudited) Cash and Equivalents $ 75 Total Assets $ 10,363 Total Liabilities $ 1,071 Net Equity $ 9,292 The financial information is based upon internally prepared financial statements for the period end ing June 30, 2015. The company's primary asset is cash and restricted cash totaling $10M . The company's primary liabilities are accrued expe nses . The 2013 and 2014 U.S. Income Tax Returns have been reviewed and were found to be satisfactory. The 2015 U.S . Income Tax Return has not been provided as of the date of this report. AmeriNat requested but did not receive updated financial statements. BAME represents limited financial capacity and should not be relied upon to cover any unexpected financial shortfalls. Howard D. Cohen October 31 , 2016 Cash and Equivalents Total Assets Total Liabilities Net Worth (Unaudited) $ 10,118,000 $ 132,328,000 $ 65,715,000 $ 66 ,613,000 The financial information is based upon internally prepared financial statements for the period ending October 31, 2016. Mr. Cohen 's primary assets are cash and investment in properties . The company's primary liabilities are adjusted liabilities in investment partnerships. AmeriNat reviewed Mr. Cohen's 2014 and 2015 U.S. Income Tax Returns and found them to be satisfactory. A schedule of real estate dated November 23, 2016 was provided for Mr. Howard D. Cohen that indicates ownership of land, retail, and multifamily properties located in California, Florida, Georgia, and Texas . The schedules reflect information reported through the period ending October 31, 2016. Mr. SEVENTH AVENUE TRANSIT VILLAGE II PAGE C-12 176 ATLANTIC ~ .. PACIFIC ~l'e"'w "111 1t 11 t,- HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Contingent Howard reports ownership in 53 developments (two land, one retail, 44 conventional multifamily, and 6 affordable multifamily) totaling 13,300 housing units (470 affordable multifamily) with a weighted average DSC ratio of 2.12. Stanley D. Cohen October 31 , 2016 Cash and Equivalents Total Assets Total Liabilities Net Worth (Unaudited) $ 23,042,000 $ 149,877,000 $ 69,076,000 $ 80,801,000 The financial information is based upon internally prepared financial statements for the period ending October 31, 2016. Mr. Cohen's primary assets are cash and investment in properties. The company's primary liabilities are adjusted liabilities in investment partnerships. AmeriNat reviewed Mr. Cohen's 2014 and 2015 U.S . Income Tax Returns and found them to be satisfactory. A schedule of real estate dated September 12, 2016 were provided for Mr. Stanley D. Cohen that indicates ownership of land, retail, and multifamily properties located in California, Florida, Georgia, and Texas. The schedules reflect information reported through the period ending September 1, 2016. Mr. Cohen reports ownership in 45 developments (two land, one retail, 42 conventional multifamily) totaling 12,100 housing units with a weighted average DSC ratio of 2.21. Kenneth J. Cohen October 31, 2016 Cash and Equivalents Tota I Assets Total Liabilities Net Worth {Unaudited) $ 23,082,000 $ 148,958,000 $ 68,660,000 $ 80,297,000 The financial information is based upon internally prepared financial statements for the period ending October 31, 2016. Mr. Cohen's primary assets are cash and investment in properties. The company's primary liabilities are adjusted liabilities in investment partnerships. AmeriNat reviewed Mr. Cohen's 2014 and 2015 U.S. Income Tax Returns and found them to be satisfactory. A schedule of real estate dated September 1, 2016 were provided for Mr. Kenneth J. Cohen that indicates ownership of land, retail, and multifamily properties located in California, Florida, Georgia, and Texas. The schedules reflect information reported through the period ending September 1, 2016. Mr. Cohen reports ownership in 45 developments (two land, one retail, 42 conventional multifamily) totaling 12,100 housing units with a weighted average DSC ratio of 2.21 . SEVENTH AVENUE TRANSIT VILLAGE II PAGE C-13 n11 ..... , -,n1-, 177 ATLANTIC Af•PACIFIC _,.O,il u !Jf\J tl ~t- HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Liabilities : Summary: The Ap plicant, General Partner, APC Seventh Avenue 11, LLC, APCH D MM, Inc., BAM E Seventh Avenue, LLC, BAME and APCSAD r ep ort that t hey do not have any contingent liabilities. Ho ward D. Coh en: AmeriNat reviewed a Sta t ement of Financial and Credi t Affairs execut ed by Mr. Howard D. Cohen dated Fe b r uary 1, 2017 that sta t es he has no pending legal actions, bankruptcies, foreclosures, or unsatisfied j u dg ments. AmeriNat received an executed Contingent Li abi lity sta tement date d August 31, 2016 that illustrates Mr. Cohen has fou r outstan d in g contingent liabilities with a maximum exposure of $37,275,130 . Sta nley D. Co h en : AmeriNat reviewed a Statement of Financial and Credit Affairs executed by Mr. Stanley D. Coh en dated February 3, 2017 that states he has no pending legal actions, bankruptcies, foreclosures, or unsatisfied judg ments. AmeriNat received an executed Contingent Liability state ment d ate d August 31, 2016 that illustra t es Mr. Cohen has four outsta ndi ng contingent liabilities with a maximum exposure of $37,275,130. Kenneth J. Cohen: AmeriNat reviewed a St at ement of Financial and Credit Affairs exe cu te d by Mr. Kenneth J . Co hen dated February 1, 2017 that states he has no pending legal actions, bankruptcies, foreclosures, or unsatisfied judg ments. AmeriNat received an ex ecu ted Contingent Li ab i lity st atem ent dat ed August 31, 2016 that illustrates Mr. Cohen has fo ur outst and ing contingent liabilities with a maximum exposure of $37,275,130 . The information provided indicates the Development Team has the relevant experience and financial capacity to successfully complete the Development. SEVENTH AVENUE TRANSI T V ILLAGE 11 PAGE C-14 M::1v ,_ ,017 178 ATLANTIC •"PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Syndicator Information Syndicator Name: Type : Contact Person: Address: Experience : Financial Statements : Summary: Wells Fargo Community Lending and Investment ("Wells Fargo") Wells Fargo Community Lending and Investment, its affiliate or designee, will have a controlling interest in the 99.99% investor limited partner Neal Deaton Senior Vice President Phone: (704) 383-9524 neal .deaton@wellsfargo.com Wells Fargo Bank, N.A. Community Lending and Investment 301 South College Street Mail Code D1053-170 Charlotte, North Carolina 28288 Wells Fargo is a $1.3 trillion financial services company, providing banking, insurance, trust and investments, mortgage, investment, brokerage, and consumer finance to individuals and businesses. Wells Fargo supports economic development, job creation, and affordable housing through Low- Income Housing Tax Credits (LIHTCs), Historic Tax Credits, and New Markets Tax Credits (NMTCs). They provide tax credit equity and investments in affordable housing, historical properties, and commercial properties in low-income communities . Wells Fargo has a wealth of experience in affordable housing and have, directly and indirectly, been involved with or provided several billions of dollars worth of equity and financing for affordable housing projects . AmeriNat received and reviewed the most recent 10-Q unaudited financial statements for Wells Fargo & Company and Subsidiaries, which are summarized as follows: Wells Fargo & Company Septembe r 3 0, 2016 Cash and Cash Equivalents : Total Assets: Total Liabilities: Total Equity (Una u dite d, in m illions) $ 19,287 $ 1,942,124 $ 1,738,166 $ 203,028 The financial information presented is based upon the company's Form 10-Q filed with the U.S. Securities and Exchange Commission for the quarterly period ending September 30, 2016. Wells Fargo's assets primarily include loans ($961 billion) and Fed eral fu nds sold ($298 billion). Wells Fa r go 's liabilities primarily include custome r deposi t s ($1.3 trillion). Total revenue fo r the entity was $10.4 billion, which yielded net income of $5.6 billion over the same period . Wells Fargo has demonstrated the experience to successfully serve as the equity syndicator and managing interest of the investor limited partner. Wells Fargo provides strong financial backing and credit support for any obligations of Wells Fargo Community Lending and Investment. SEVENTH AVENUE TRANSIT VILLAGE II PAGE C-15 179 ATLANTIC ~ .. PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT General Contractor Information General Contractor: Type: Contact Person : Address : Experience : Credit Evaluation : Banking References : Financial Statements : Atlantic Pacific Community Builders, LLC ("APCB") A Florida limited liability company Joseph Roig Vice President of Construction Telephone (305) 867-2245 1025 Kane Concourse Suite 215 Bay Harbor Islands, FL 33154 APCB offers general and interior contracting, construction management, renovation, and fire restoration for retail, office, and multifamily communities. APCB provided an experience chart that illustrates completion of 882 units in four developments located in Southeast Florida. APCB submitted the license of Joseph Roig, Vice President of Construction, who is a Florida Certified General Contractor with license number CGC059835. The license is valid through August 31, 2018 . A D&B Report was requested for APCB; however, no credit history was available within the D&B database. AmeriNat reviewed a bank statement dated June 30, 2016 confirming total deposits in the low eight figures, which is consistent with the financial statement provided for the entity. AmeriNat received and reviewed financial statements, which are summarized as follows: Atlantic Pacific Community Builders, LLC Dec embe r 31 , 2016 Cash and Cash Equivalents : Total Assets: Total Liabilities: Total Member's Equity: (Un au dited ) $ 3,895,403 $ 19 ,541,363 $ 16,288,131 $ 3,253,231 The financial statements presented were internally prepared as of December 31, 2016. APCB's assets primarily consist of contracts receivable ($15.0MM) and cash ($3 .9MM) and their liabilities primarily consist of accounts payable ($1MM) and billings in excess of costs and estimated earnings ($15.2MM). APCB's primary source of revenue is derived from construction contracts amounting to $75MM, which provided for a net income of $4,127,956 over the same period. Per Rule , an audited financial statement or financial statements reviewed by a licensed Certified Public Accountant for the most recent fiscal year ended is required for the General Contractor unless a P&P Bond equal to 100 percent of the total construction cost whose terms do not adversely affect FHFC's interest, and is issued in the name of the General Contractor by a company rated at least "A-" by AM Best & Co. The General Contractor provided a Payment and Performance Bond ("P&P Bond") dated February 2, 2016 in the amount of $21,535,552. Berkshire Hathaway Specialty Insurance Company is SEVENTH AVENUE TRANSIT VILLAG E II PAGE C-16 1\11,:n, ., ?n1 7 180 ATLANTIC ~._PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Summary: providing the surety and is rated A++ by the AM Best & Co. APCB has the requisite experience, credit, and financial capacity to construct the proposed development. A 100% payment and performance bond between the Applicant and APCB shall secure the general construction contract. AmeriNat recommends that APCB be accepted as the general contractor and the construction contract be approved subject to the recommendations of the Plan and Cost Review performed by Varian. SEVENTH AVENUE TRANSIT VILLAGE II PAGE C-17 ft.JI-... ""' "'ln-t-, 181 ATLANTIC .,..._PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Property Manager Information Management Company: Type: Contact Person : Address : Experience: Management Agreement: Management Plan : Summary: Atlantic Pacific Community Management, LLC ("APCM") A Delaware limited liability company Randy Weisburd President Telephone (386} 788-8375 1025 Kane Concourse Suite 215 Bay Harbor Islands, FL 33154 APCM is a comprehensive management company that provides management services and oversight to condominium and multifamily communities. Presently, APCM manages a portfolio in excess of 28,000 units located in California, Florida, Georgia, Texas, and Washington, D.C. APCM currently manages 18 affordable developments totaling 2,000 units in Florida. The Applicant submitted an executed Management Agreement between APCM and the Applicant, dated January 26, 2016. The agreement states an initial term of one year, but the agreement will be automatically extended for a one year period thereafter unless terminated by either party in accordance with the terms outlined in the Management Agreement. The agreed compensation to APCM is 6% of the monthly gross receipts received during the previous month. The Applicant has submitted a Management Plan for the Development. According to the Management Plan, APCM will conduct operations with respect to administrative, financial, maintenance, repair, security, and personnel services relating to the Development as set forth in the Management Agreement. APCM demonstrates sufficient experience in the management of affordable multifamily housing to serve as the Property Manager for the Development. Notwithstanding APCM's experience, the selection of the Agent to manage the Development must be approved by FHFC's Asset Management Department pursuant to Rule Chapter 67-53. The FHFC Asset Management Department approved the Applicant's selection of APCM on February 16, 2017; however, continued approval is contingent upon ongoing satisfactory performance. SEVEN fH AVENUE TRANSIT VILLAGE II PAGE t-ra-182 Mav 2. 2017 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT .•~-.--•'rMSI,, .. ~5. OPERATING PROFORMA Gross Potential Rental Income $767,640 $782,993 w Washer/Dryer Rentals $0 $0 :i: Gross Potential Income $791,640 $807,473 8 Less : z -Physical Vac. Loss Percentage: 4.00% S31,666 $32,299 Collection Los s Percentage: 1.00% $7,916 $8,075 Total Effective Gross Income $752,058 $767,099 Fixed : Real Estate Taxes $54 ,543 $56 ,179 Insurance $55,000 $56,650 Variable : ,;; Management Fee 6.00% $45,123 $46,026 w Percentage: "' z General and Administrative $42,500 $43,775 w a. Payroll Expenses $130,000 $133,900 >C w Utilities $92,500 $95,275 Maintenance and Repairs/Pest Control $40,000 $41,200 Security $40,000 $41,200 Reserve for Replacements $30,000 $30,000 Total Expenses $579,666 $595,705 Net Operating_ Income $172,392 $171,394 Debt Service Payments First Mortgage -Wells Fargo $77,981 $77,981 Total Debt Service Payments $77,981 $77,981 Cash Flow after Debt Service $94,411 $93,413 Debt Service Coverage Ratios DSC-First Mortgage 2.21 2.20 DSC-All Mortgages and Fees 2.21 2.20 Financial Ratios Operating Expense Ratio 77 .08% 77.66% Break-even Economic Occupancy Ratio (all debt) 83.07% 83.43% SEVENTH AVENUE TRANSIT VILLAGE II ~~ $798,653 $0 $823,622 $32,945 $8,236 $782,441 $57,86 5 $58,350 $46,946 $45,088 $137,917 $98,133 $42,436 $42,436 $30,000 $612,216 $170,225 $77,981 $77,981 $92,244 2.18 2.1B 78.24% 83.80% Exhibit 1 Seventh Avenue Transit Village II 15 Vear Operating Proforma -~., ;'_~ =:~ ~ $814,626 $830,918 $847,537 $864,487 So so So so $840,095 $856,897 $874,035 $891,515 $33,604 $34,276 $34,961 S35,661 $8,401 $8,569 $8.740 $8,915 $798,090 $814,052 $830,333 $846,939 $59,601 $61,389 $63,230 S6 5,127 $60,100 $61,903 $63,760 $65,673 $47,885 $48,843 $49,820 $50,816 $46,441 $47,834 $49,269 $50,747 $142,055 S146,316 $150,706 $155,227 $101,077 $104,110 $107,233 $110,450 $43,709 $45,020 $46,371 $47,762 $43,709 $45,020 $46.371 $47,762 S30,000 S30,000 $30,000 $30,000 $629,213 $646,711 $664,724 $683,267 $168,877 $167,341 $165,609 $163,672 $77,981 $77.981 $77,981 $77,981 $77,981 $77,981 $77,981 $77,981 $90,896 $89,360 $87,62B $85,692 2.17 2.15 2.12 2.10 2.17 2.15 2.12 2.10 78.84% 79.44% 80.06% 80.67% 84.18% 84.57% 84.97% 85.39% ;, ....... ~~: ~ '('7-'J;'llff1l \7;:i;:tllUI $881,777 $899,413 $917,401 $935,749 $0 $0 $0 $0 $909,346 $927,532 $946,083 $965,005 $36,374 S37,101 $37,843 $38,600 S9,093 $9,275 $9,461 $9,650 $863,878 $881,156 $898,779 $916,755 $67,081 $69,093 S71 ,166 $73,301 S67,643 $69,672 $71,763 $73,915 $51,833 $52,869 $53,927 sss,oos $52,270 $53,838 $55,453 $57,11!\ $159,884 $164,680 $169,621 S174,709 $113,763 $117,176 $120,692 $124,312 $49,195 $50,671 $52,191 $53,757 $49,195 $50,671 $52,191 $53,757 $30,000 $30,000 $30,000 $30,900 $702,357 $722,009 $742,241 $763,969 $161,521 $159,146 $156,53B $152,786 $77,981 $77,981 $77,981 $77,981 $77,981 $77,981 $77,981. $77,981 $83,541 $81,166 $78,557 $74,805 2.07 2.04 2.01 1.96 2.07 2.04 2.01 1.96 81.30% 81.94% 82.58% 83.33% 85.81% 86.25% 86.70% 87.25% ,_WIF.l'IQ $954,464 so $984,305 $39,372 $9,843 $935,090 $75 ,500 $76,133 $56,105 $58,830 $179,950 $128,042 $55,369 $55,369 $31,827 $786,338 $148,752 $77,981 $77,981 $70,771 1.91 1.91 84.09% 87.81% ~ANTIC ~ .. PACIFIC --co 1o1w11,.1 t 1 1 1 -- AMERINAT "l'MSEI.'' . ! :1'111;TSr1 ~- $973,553 $993,024 $1,012,885 So so $0 $1,003,991 $1,024,071 $1,044,552 $40,160 $40,963 S41.782 $10,040 $10,241 $10,446 $953,791 $972,867 $992,325 $77,765 $80,098 $82,50 1 $78,417 $80,769 $83,192 $57,227 $58,372 $59,539 $60,595 $62,413 $64,285 $185,349 $190,909 $196,637 $131,883 $135,839 $139,915 $57,030 $58,741 $60,504 $57,030 $58,741 $60,504 $32,782 $33,765 S34,778 $809,367 $B33,076 $857,484 $144,424 $139,792 $134,840 $77,981 $77,981 $77,981 $77,981 $77,981 $77,981 $66,444 $61,811 $56,860 1.85 1.79 1.73 1.85 1.79 1.73 84.86% 85.63% 86.41% 88.38% 88.96% 89.56% EXHIBIT 1, PAGE 1 183 ATLANTIC ...,._PACI Fl C HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT Exhibit 2 Seventh Avenue Transit Village II RFA 2014-116 (2015-171() Description of Features and Amenities A. The Development will consist of: 100 High-Rise Apartment Units located in 1 residential building Unit Mix: AMERINAT One hundred (100) one bedroom/one bath units containing a minimum of 550 square feet of heated and cooled living area. 100 Total Units The Development is to be constructed in accordance with the final plans and specifications approved by the appropriate city or county building or planning department or equivalent agency, and approved as reflected in the Pre-Construction Analysis prepared for Florida Housing or its Servicer, unless a change has been approved in writing by Florida Housing or its Servicer . The Development will conform to requirements of local, state & federal laws, rules, regulations, ordinances, orders and codes, the 2012 Florida Accessibility Code for Building Construction as adopted pursuant to Section 553.503, Florida Statutes, Federal Fair Housing Act as implemented by 24 CFR 100, Section 504 of the Rehabilitation Act of 1973, and Titles II and Ill of the Americans with Disabilities Act ("ADA") of 1990 as implemented by 28 CFR 35, incorporating the most recent amendments, regulations and rules, as applicable. 8. The Development will provide the following General Features and Accessibility, Universal Design and Visitability Features in all units: 1. Termite prevention; 2. Pest control; 3. Window covering for each window and glass door inside each unit; 4. Cable or satellite TV hook-up in each unit and, if the Development offers cable or satellite TV service to the residents, the price cannot exceed the market rate for service of similar quality available to the Development's residents from a primary provider of cable or satellite TV; 5. Full-size range and oven in all units; 6. At least two full bathrooms in all 3 bedroom or larger new construction units; and 7. Bathtub with shower in at least one bathroom in at least 90% of the new construction non-Elderly units. C. All new construction units that are located on an accessible route will provide the following features: 1. Primary entrance door shall have a threshold with no more than a ½-inch rise; 2. All door handles on primary entrance door and interior doors must have lever handles; 3. Lever handles on all bathroom faucets and kitchen sink faucets 4. Mid-point on light switches and thermostats shall not be more than 48 inches above finished floor level; and SEVENTH AVENUE TRANSIT VILLAGE II EXHIBIT 2, PAGE 1 184 ATLANTIC ~._PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT 5. Cabinet drawer handles and cabinet door handles in bathroom and kitchen shall be lever or D- pull type that operate easily using a single closed fist. D. All new construction units must include the following general Features and Green Building Features: 1. All Family Demographic Developments will provide reinforced walls for future installation of grab bars that meet or exceed 2010 ADA Standards for Accessible Design around each tub/shower unit in each dwelling unit. At the request of and at no charge to a resident household, the Development shall purchase and install grab bars around each tub/shower unit in the dwelling unit. The product specifications and installation must meet or exceed 2010 ADA Standards for Accessible Design. The Development shall inform a prospective resident that the Development, upon a resident household's request and at no charge to the household, will install grab bars around a dwelling unit's tub/shower unit, pursuant to the 2010 ADA Standards. At a minimum, the Development shall inform each prospective lessee by including language in the Development's written materials listing and describing the unit's features, as well as including the language in each household's lease. 2. Green Building Features in all Family and Elderly Demographic Developments: a) Low or No-VOC paint for all interior walls (Low-VOC means SO grams per liter or less for flat; 150 grams per liter or less for non-flat paint). b) Low-flow water fixtures in bathrooms -WaterSense labeled products or the following specifications: i. Toilets: 1.6 gallons/flush or less, ii. Faucets: 1.5 gallons/minute or less, iii. Showerheads: 2.2 gallons/minute or less; c) Energy Star Qualified refrigerator; d) Energy Star Qualified dishwasher; e) Water heating minimum efficiency specifications (choose gas, electric, gas tankless, or boiler/hot water maker): i. Gas: 1. 30 gal= .63 EF; or 2. 40 gal = .61 EF; or 3. SO gal= .59 EF; or 4 . 60 gal= .57 EF; or 5. 70 gal = .55 EF; or 6 . 80 gal = .53 EF; or ii. Electric: 1. 30 gal= .94 EF; or SELECTED 2. 40 gal= .93 EF; or 3. 50 gal= .92 EF; or 4. 60 gal = .91 EF; or 5. 70 gal= .90 EF; or 6. 80 gal = .89 EF; or iii. Tankless gas water heater: minimum .80 EF; or iv. Boiler or hot water maker: SEVENTH AVENUE TRANSIT VILLAGE II EXHIBIT 2, PAGE 2 M::m 7 7fl17 185 ATLANTIC ~ .. PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT 1. <300,000 Btu/h: 85% Et (thermal efficiency); or 2. 300,000 Btu/h or higher: 80% Et (thermal efficiency) v. Energy Star qualified ceiling fans with lighting fixtures in bedroom; vi. Air Conditioning minimum efficiency specifications (choose in-unit or commercial): 1. In-unit air conditioning: minimum 14 SEER; or 2. Central chiller AC system -based on size: a. 0-65 KBtuh: Energy Star certified; or b. >65-135 KBtuh: 11.3 EER/11.5 IPLV; or c. >135-240 KBtuh: 11.0 EER/11.5 IPLV; or d. >240 KBtuh: 10.6 EER/11.2 IPLV. E. This New Construction Development commits to provide the following Green Building Certification program: ___ Leadership in Energy and Environmental Design (LEED); or ___ Florida Green Building Coalition (FGBC); or __ X __ ICC 700 National Green Building Standard (NGBS). F. This Family Development will provide the following resident programs: 1. Literacy Training -Applicant or its Management Company must make available, at no cost to the resident, literacy tutor(s) who will provide weekly literacy lessons to residents in private space on- site . Electronic media, if used, must be used in conjunction with live instruction. If the Development consists of Scattered Sites, this resident program must be provided on the Scattered Site with the most units. 2. Employment Assistance Program -Applicant or its Management Company must provide, at no cost to the resident, a minimum of quarterly scheduled Employment Assistance Program workshops/meetings offering employment counseling by a knowledgeable employment counselor. Such a program includes employability skills workshops providing instruction in the basic skills necessary for getting, keeping, and doing well in a job. The instruction must include, but not be limited to, the following: a) Evaluation of current job skills; b) Assistance in setting job goals; c) Assistance in development of and regular review/update of an individualized plan for each participating resident; d) Resume assistance; e) Interview preparation; and f) Placement and follow-up services. If the Development consists of Scattered Sites and the training is provided on site, it must be provided on the Scattered Site with the most units. If the training is not provided on-site, transportation at no cost to the resident must be provided. Electronic media, if used, must be used in conjunction with live instruction. 3. Family Support Coordinator -The Applicant must provide a Family Support Coordinator at no cost to the resident. The Family Support Coordinator shall assist residents in assessing needs and SEVENTH AVENUE fRANSl f VILLAGE II EXHIBIT 2, PAGE 3 Mav 2, 2017 186 ATLANTIC ~._PACIFIC -c.a .. w1,1 .. 1,1t1- HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT obtaining services, with the goal of promoting successful tenancies and helping residents achieve and maintain maximum independence and self-sufficiency. Responsibilities shall include linking residents with public and private resources in the community to provide needed assistance, develop and oversee on-site programs and activities based on the needs and interests of residents, and support residents in organizing group activities to build community and to address and solve problems such as crime and drug activity. The duties of the Family Support Coordinator shall not be performed by property management staff. The Coordinator shall be on-site and available to residents at least 20 hours per week, within the hours of 9 a.m. and 8 p.m. The Coordinator may be an employee of the Development or, through an agreement, an employee of a third party agency or organization that provides these services. SEVENTH AVENUE I RANSI r VILLAGE II EXAIS112, PAGE 4 Mav 2. 2017 187 ATLANTIC ~ .. PACIFIC HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT AMERINAT Exhibit 3 HC Allocation Calculation Section I -Qualified Basis Calculation Total Development Cost $29,374,093 Less Land Costs $320,620 Less Other Ineligible Costs $2,113,846 Total Eligible Basis $26,939,627 Applicable Fraction 100% DDA/QCT Basis Credit, if applicable 130% Qualified Basis $35,021,515 Housing Credit Percentage (Federal allocation) 9.00% Annual Housing Credit Allocation $3,151,936 Notes to the Qualified Basis Calculation : 1. "Other Ineligible Costs" primarily consist of the portion of hard costs related to the retail space, origination/closing fees and interest costs related to the construction and permanent loans, FHFC underwriting, administrative and application fees, market study, a portion of Legal Fees, title insurance/recording fees, and an operating deficit reserve. 2. The Development has a 100% set-aside; therefore, the applicable fraction is 100%. 3. The Development is located in a Difficult Development Area ("DDA11 ) and Qualified Census Tract based upon the information provided by the Applicant as per RFA 2014-116. Therefore, it is eligible to use the 130% multiplier for DDA/QCT Basis Credit. 4. Per the FY 2016 Omnibus Spending and Tax Bill passed by Congress as of December 18, 2015, a permanent 9% minimum HC rate was established. For purposes of this report, a total HC percentage of 9.00% has therefore been applied. Section II -GAP Calculation Total Development Cost (including land and i neligible costs) $29,374,093 Less Mortgages $1,205,910 Equity Gap $28,168,183 HC Percentage to Investment Partnership 99.99% HC Syndication Pricing $1.100000004 HC Required to meet Equity Gap $25,610,000 Annual HC Required $2,561,000 Notes to the GAP Colculat,on : 1. Mortgages include the first mortgage to be provided by Wells Fargo. 2. The HC Syndication Pricing of $1.10 per dollar and the HC Percentage to the Investor Member is based upon the LPA dated April 5, 2016. SEVENTH AVENUE TRANSIT VILLAGE II EXHIBIT 3, PAGE 1 188 HOUSING CREDITS PROGRAM CREDIT UNDERWRITING REPORT Summary HC Per Applicants Request HC Per Qualified Basis HC Per GAP Calculation Annual HC Recommended HC Proceeds Recommended Notes to Summary: ATLANTIC _...._PACIFIC -c:a uloo i,11111 1 111- AMERINAT $2,561,000 $3,151,936 $2,561,000 $2,561,000 $28, 168, 183 1. The Annual HC Recommended is equal to the lesser of the Applicant's Request, the Qualified Basis, or the Gap Calculation. Therefore, the GAP Calculation was utilized. SEVENTH AVENUE TRANSIT VILLAGE II EXHIBIT 3, PAGE 2 189 Mav 2. 2017 COMPLETENESS AND ISSUES CHECKLIST ATLANTIC _..,._PACIFIC DEVELOPMENT NAME: Seventh Avenue Transit Village II DATE: May 2, 2017 In accordance with the applicable Program Rule(s), the Applicant is required to submit the information required to evaluate, complete, and determine its sufficiency in satisfying the requirements for Credit Underwriting to the Credit Underwriter in accordance with the schedule established by the HFAPBC. The following items must be satisfactorily addressed. "Satisfactorily" means that the Credit Underwriter has received assurances from third parties unrelated to the Applicant that the transaction can close within the allowed timeframe . Unsatisfactory items, if any, are noted below and in the "Issues and Concerns" section of the Executive Summary. FINAL REVIEW STATUS NOTE REQUIRED ITEMS: Satis. / Unsatis. 1 . The development's final "as submitted for permitting" plans and specifications. Note: Final "signed, sealed, and approved for construction" plans and specifications will Satis . be required thirty days before closing. 2. Final site plan and/or status of site plan approval . Satis . 3 . Permit Status. Satis . 4 . Pre-construction analysis ("PCA"). Satis. 5 . Survey . Satis . 6. Complete, thorough soil test reports. Satis . 7 . Full or self-contained appraisal as defined by the Uniform Standards of Professional Appraisal Practice. Satis . 8 . Market Study separate from the Appraisal . Satis. 9 . Environmental Site Assessment -Phase I and/or the Phase II if applicable (If Phase I and/or II disclosed environmental problems requiring remediation, a plan, including time frame and cost, for the remediation is required). If the report is not dated within one Satis . year of the application date, an update from the assessor must be provided indicating the current environmental status. 10. Audited financial statements for the most recent fiscal year ended or acceptable alternative as stated in Rule for credit enhancers, applicant, general partner, principals, Satis . guarantors, and general contractor. 11. Resumes and experience of applicant, general contractor, and management agent. Satis . 12. Credit authorizations; verifications of deposits and mortgage loans. Satis . 13. Management Agreement and Management Plan. Satis . 14. Firm commitment from the credit enhancer or private placement purchaser, if any . N/A 15. Firm commitment letter from the syndicator, if any. Satis. 16. Firm commitment letter(s) for any other financing sources . Satis. 17. Updated sources and uses of funds . Satis . 18. Draft construction draw schedule showing sources of funds during each month of the Satis . construction and lease-up period . 19. Fifteen-year income, expense, and occupancy projection . Satis. SEVENTH AVENUE TRANSIT VILLAGE II EXHIBIT 4, PAGE 1 May 2, 2017 190 COMPLETENESS AND ISSUES CHECKLIST ATLANTIC ...,._PACIFIC _ ...... .., .. 1,11 1 - FINAL REVIEW STATUS NOTE REQUIRED ITEMS: Satis. / Unsatis . 20. Executed general construction contract with "not to exceed" costs. Satis . 21. HC ONLY: 15% of the total equity to be provided prior to or simultaneously with the Satis closing of the construction financing. 22. Any additional items required by the credit underwriter. Satis . NOTES AND DEVELOPER RESPONSES: None SEVENTH AVENUE TRANSIT VILLAGE II EXHIBIT 4, PAGE 2 May 2, 2017 191 APPLICATION SUMMARY PROPERTY IDENTIFICATION RECOMMENDATION Application # I 16434 II TDHCA Program l J{equest I Approved REAL ESTATE ANALYSIS DIVISION October 5, 2016 KEY PRINCIPAL/ SPONSOR 1 Oevelopment thinkEAST Apartments LIHTC 14% Credil) $1.055 ,360 I $1 ,055.4261 $5,799/Unit I $1.1 5 Austin Affordable Housing Corp oration City/ County Austin / Travis Amount I Rate I Amort I Term I Lien -Michael Gerber (Presidenl) Region/Area 7 / Urban Private Activily Bonds -Edwina Corrington (Board Member) Population General MDLP (Repayable) Howard Cohen (Developer) Set-Aside General MDLP (Non-Repayable) Henry Flo re s (Co-Developer and Consultant) Aclivil\'__ New Const ruction IIC HDO Exp_enses 16434 ThinkEAST TYPICAL BUILDING ELEVATION/PHOTO SITE PLAN ., ,..>~ ........ -("~<:-:. ❖ •. 1 of 20 Related-Parties Contractor -No Se ll e r -Yes UNIT DISTRIBUTION INCOME DISTRIBUTION # Beds # Units %Total Income # Units I % Total Elf 50 • 27% 30% 0% 1 65 iJ 36% 40% 0% 2 58 I!! 32% 50% 0% 3 9 5% 60% 182 100% 4 -0% MR TOTAL 182 µr,._ 100% TOTAL 100% PRO FORMA FEASIBILITY INDICATORS Pro Forma Underwritten Applicant's Pro Form □ Debi Coverage :; 1.19 Expense Ratio 41.5% Breakeven 0cc. 84.0%IBreakeven Rent I _i788 $870 I 8/E Rent Margin Jl::I $82 Taxes Exemp!I Exemptlon{PILOT 1100% $4, 100/uni!IConlrollable I $2.898/unit MARKET FEASIBILITY INDICATORS Gross Capture Rate (10% Maximum) 11:1 5.5% Highest Unit Capture Rate I , 27%1 3 BR/60% 9 18%1 I BR/60% 65 Premiums (1'60% Rents) I N/A N/A Rent Assisted Units I Ni A DEVELOPMENT COST SUMMARY Costs Underwritten I Applicant's Costs Avg. Unit Size I 821 SF Density 28 .9/acre Acquisition $11 K/unit $2,000K Building Cost I $86.30/SF $71 K/unit $12.893K Hard Cost $87K/unit $15,886K Total Cost $157K/uni1 $28,555K Developer Fee I $3.200K l!R Defeued} Poid Year.1 Contractor Fee I $2.224K 30% Boost Yes Pri nted : 10/5/16 i'I.. LAN TIC _.,._PACIFIC --(1i1 W.W ll ,-l f l i 1 -- 192 DEBT CASH FLOW DEBT/ GRANT FUNDS EQUITY / DEFERRED FEES Source Term I Rate I Amount I OCR Source Term! Rate Amount OCR II Source Amount Cill Communlfy Capllol 4.12<J.l $16.41'i_290 I 1.19 Wells Fargo }12, 135.426 TOTAL EQUITY SOURCES $12.135.427 TOTAL DEBT SOURCES $16,419,290 TOTAL DEBT (Must Pa $16,419.290 CASH FLOW DEBT L GRANTS TOTAL CAPITALIZATION $28.554.717 CONDITIONS Receipt and acceptance before Determination Notice: Pursuant to § l 0.402(d)(7). a letter from Applicanl's Attorney. " .. , identifying the statutory basis for the exemption and indicating that the exemption is reasonably achievable, subject to appraisal district review. 2 Documentation at Cost Certification clearing environmental issues identified in the ESA report, specifically: a: Documentation that a noise study was completed and all noise assessment recommendations were implemented. b: Documentation that soil and underground testing was completed to determine the hydrocarbon impacts to the subject property from the off-site bulk fuel storage facilities and that all recommendations from the testing were implemented . c: An architect or engineer certification that no building is within the floodplain and that all drives, parking and amenities will be no more than 6 inches below the floodplain. or a Letter of Map Amendment ("LOMA") or Letter of Map Revision ("LOMR-F") indicating that the development Is no longer within the 100 year floodplain. Should any terms of the proposed capital structure change or if there are material changes to the overall development plan or costs. the analysis m ust be re-evaluated and adjustment to the credit allocation and/or terms of other TD HCA funds may be warranted . BOND RESERVATION/ ISSUER AERIAL PHOTOGRAPHls lssuer AUStln AJfordoble PFC , lnc Expiration Dale 1/16/2017 Bond Amount $25,000.000 BR.B Prlo Priority 3 Expected Close N/A Bond Structure Private Placemen! RISK PROFILE STRENGTI-IS/MITIGATING FACTORS • 1 Experienced Devefc;,per Hig h occupon Lo w Expense Rollo resulting lrom lox exemption • , Partnership WllhAustin Housing Fi na nce Co!!?_ • 1Attractive architectural design WEAKNESSES/RISKS • 1Unlt capture rotes above 12% for all lhe units • 1 Feasibuity dependent on 100% tax exemption AREA MAP - 16434 ThinkEAST 2 of 20 Printed: 10/5116 LANTIC ~.._PACIFIC --<O WM 1ii1 10 f 1111-- 193 ~, Real Estate Analysis Division ,, . : ~' Cl .rif'*~~' l ' iU1-. ?; -Underwriting Report ~· . ·, ~} October 5, 2016 ~~ '"~f '.( U• <i,.#' -...._.,. 'f ,.. - DEVELOPMENT IDENTIFICATION TDHCA Application#: 116434 I Program(s): 14% HTC I I thinkEAST Apartments I Address/Location: l 143 Shady Lane City: Austin County: Travis Zip: 78721 Population: General Program Set-Aside: General Area: Urban Activity: New Construction Building Type: Wrap Style (3 or 4-story) Region: 7 Analysis Purpose : New Application -Initial Underwriting ALLOCATION REQUEST RECOMMENDATION lroHCA Program Amount Interest I Rate Amert I Term Amount Interest I Rate Amert I Term I Lien ITC (4% Credit) $1 ,0 55.426 $1,055,426 CONDITIONS l Receipt and acceptance before Determination Notice: -Pursuant to § l 0.402(d) (7), a letter from Applicant's Attorney, " ... identifying the statutory basis for the exemption and indicating that the exemption is reasonably achievable, subject to appraisal district review. 2 Documentation at Cost Certification clearing environmental issues identified in the ESA report, specifically: a: Documentation that a noise study was completed and all noise assessment recommendations were implemented. b: Documentation that soil and underground testing was completed to determine the hydrocarbon impacts to the subject property from the off-site bulk fuel storage facilities and that all recommendations from the testing were implemented. c: An architect or engineer certification that no building is within the floodplain and that all drives, parking and amenities will be no more than 6 inches below the floodplain, or a Letter of Map Amendment ("LOMA") or Letter of Map Revision ("LOMR-F") indicating that the development is no longer within the 100 year floodplain. Should any terms of the proposed capital structure change or if there are material changes to the overall development plan or costs, the analysis must be re-evaluated and adjustment to the credit allocation and/or terms of other TDHCA funds may be warranted. 16434 ThinkEAST 3 of 20 Printed: 10/5/16 ATLANTIC ..._PACIFIC 194 SET-ASIDES TDHCA SET-ASIDES for HTC LURA Income Limit I Rent Limit I Number of Units 60% of AMI I 60% of AMI I 182 DEAL SUMMARY ThinkEAST will be a 182-unit new construction family development located in east Austin . All units will be at 60% AMI. The Development will consist of two 3-story wrap buildings with 50 efficiencies, 65 l BR units, 58 2BR units, and 9 3BR units . The Development will be developed and owned by Austin Housing Finance Corporation which will help them retain a l 00% tax exemption. RISK PROFILE STRENGTHS/MITIGATING FACTORS WEAKNESSES/RISKS . Experienced Developer . Unit capture rates above 12% for all the units . High occupancy . Feasibility dependent on l 00% tax exemption . Low Expense Ratio resulting from tax exemption . . Partnership with Austin Housing Finance Corp . . Attra c tive architectural design . DEVELOPMENT TEAM PRIMARY CONT ACTS Name: Dan Wilson Name: Liz Wong Phone: (305) 357-4733 Phone: (305) 357-4725 Relationship: Applicant/Developer Relationship: Applicant 16434 ThinkEAST 4 of 20 Printed: 10/5/16 ATLANTIC ~PACIFIC -C'Otlll\llllflr t - 195 OWNERSHIP STRUCTURE Orga nizational Chart of Owner thinkEAST Apartments, Ltd . a Texas limited partnership • The Applicant, Developer. and property manager are related entities . 16434 ThinkEAST 5 of 20 Howard D. Cohen 99 98% Interest llm,ted Partner &/or ass,r,ns Printed: 10/5/16 ATLANTIC ._PACIFIC 796 DEVELOPMENT SUMMARY SITE PLAN C o mmen ts: Applicant is providing 248 (l .4/unit) free parking spaces for the tenants . 16434 ThinkEAST 6 of 20 Printed : 10/5/16 ATLANTIC .&PACIFIC 197 BUILDING ELEVATION Comments: 1ultiple irregular shaped units are more complex than average in order to achieve a higher level of exterior building .rticulation . BUILDING CONFIGURATION Building Type Type I Type II Total Floors/Stories 3 3 Buildings Number of Bldgs l l 2 Units per Bldg 71 111 Total Units 71 111 182 Avg. Unit Size (SF) 821 sf I Total NRA (SF) 149,411 I Common Area (SF) 3,107 16434 ThinkEAST 7 of 20 Printed : 1 0/5/16 ATLANTIC .. PACIFIC 198 ,....._. I SITE AND ACQUISITION Site Acreage: Total Size: 6.31 acres Density: 28 .9 units/acre Site Control: 6.308 Site Plan: 6 .308 Appraisal: N/A ESA: 6 .308 Control Type: Purchase Option and Ground Lease Contract Expirat ion : 10/21/2015 Development Site: 6 acres Cost : $2,000,000 $10,989 per unit Seller: ThinkEAST Austin, LP Buyer: Austin Affordable Housing Corporation Optionee: ThinkEAST Apartments, LLC Related-Party Seller/Identity of Interest: Yes Comments: The Seller is the sole general partner of the Applicant entity, and is also an affiliate of the Housing Authority of the City of Austin . Land was acquired in 2015 by Austin Affordable Housing Corporation for $2M from ThinkEAST Austin, LP. AAHC will ground lease the land to ThinkEAST Apartments, LLC for 75 years at $10 per year. GENERAL INFORMATION Flood Zone: Zone X & AE Scattered Site? No Zoning: PUD-NP Within 100-yr floodplain? Yes Re-Zoning Required? No Year Constructed: N/A Utilities at Site? Yes ntle Issues? No Surrounding Uses : The subject site is located in an area surrounded by undeveloped land, a city park, light commercial facilities and light single family resident ial. Other Observations: Site is relatively flat, with a 3 ft range in slope elevation. Part of the Site is in the flood plain AE but no buildings will be built with i n the floodplain. HIGHLIGHTS of ENVIRONMENTAL REPORTS Provider: Aspen Environmental, Inc Date: 8/19/2015 Recognized Environmental Conditions (RECs) and Other Concerns: 0 "Although the site is located away from industrial zones , major highways , civil and military airfields, a nearby railroad track may be cause for concern (per Housing and Urban Development -HUD guidelines). If development is to occur, a noise analysis may be prudent to meet HUD requirements ." (p 10) 0 "This assessment has identified the potential for impacts to the subject property from nearby bulk fuel storage facilities that were previously located to the north of the subject property. In order to document the presence or absence of hydrocarbon impacts to the subject property from off-site sources, we recommend the completion of soil and groundwater testing." (p 2) '":omments: A noise study and a soil and underground testing will be required as part of the project . 16434 ThinkEAST 8 of 20 Printed : 1 0/5116 ATLANTIC •PACIFIC 199 MARKET ANALYSIS Provider: Apartment MarketData, LLC Date: 2/15/2016 Contact: Darrell G Jack Phone: 210-530-0040 Primary Market Area (PMA): 20 sq. miles 3 mile equivalent radius The PMA consists of 23 census tracts located in east Austin; 1-35 cuts vertically through the western portion of the PMA. The southern border is formed by Hwy 71 /290; the western by Congress Avenue and Shoal Creek. The northern border is formed by E 12th Street, MLK Boulevard and Manor Road; the eastern by Hwy 183 and the Colorado River. ELIGIBLE HOUSEHOLDS BY INCOME Travis County Income Limits HH I 30% of AMI 40% of AMI 50% of AMI 60% of AMI size I min max min max min max mi n max l --------$28,011 $32,280 2 -------$30,034 $36,900 3 --------$36,034 $41,520 4 -------$41,623 $46,080 5 ----------$41,623 $49,800 6 ------------ AFFORDABLE HOUSING INVENTORY Competitive Supply (Proposed , Under Construction, and Unstablllzed) File# Development In Type Target Comp Total PMA? Population Un its Un its 14400 The Point at Ben White Yes New General 250 250 Other Affordable Developments in PMA since 2012 14401 Villages at Ben White New Elderly n/a 183 13252 Oak Creek Village recon- e+n,~+i~n General n/a 173 12300 Capital Studios New Supportive n/a 135 -•- Total Un its 2,639 Stabilized Affordable Developments in PMA ( pre-2012) Total De velopmen1s 18 Proposed, Under Construction, and Unstabilized Comparable Supply: The Point at Ben White(# 14400) is currently 100% leased but has not achieved 90% for 12 consecutive months, and therefore the 250 comparable units are considered competitive with the Subject units. The Point at Ben White started leasing in late November 2015 and achieved 90% and 100% occupancy in May 2016. This is an average lease up velocity of 42 units/month. 16434 ThinkEAST 9 of 20 Printed: 10/5/16 ATLANTIC A PACIFIC 200 OVERALL DEMAND ANALYSIS Market Analyst Underwriter Total Households in the Primary Market Area 42,530 42,530 Potential Demand from the Primary Market Area 7,923 7,790 Po!ential Demand from Other Sources 0 0 GROSS DEMAND 7,923 7,790 5ubjec! Affordable Units 182 182 Unstabilized Comparable Units 250 250 RELEVANT SUPPLY 432 432 Relevant Supply+ Gross Demand = GROSS CAPTURE RATE 5.5% 5.5% Population:! General I Market Area :I Urban I Maximum Gross Capture Rate:1 10% Demand Analysis: We assume The Point at Ben White will be stabilized by the time the Subject units come on line; without these comp units, the gross capture rate decreases to 2.3%. The Gross Capture Rate and unit capture rates are well below the thresholds. UNDERWRITING ANALYSIS of PMA DEMAND by UNIT TYPE Market Analyst Underwriter Subject Comp Unit Subject Comp Unit Unit Type Demand Capture Demand Capture Units Units Rate Units Units Rate 0 BR/60% 214 50 0 23% 415 50 0 12% l BR/60% 422 65 24 21% 490 65 24 18% 2 BR/60% 791 58 130 24% 797 58 130 24% 3 BR/60% 441 9 96 24% 390 9 96 27% Market Analyst Comments: There was a 10.5% increase in population in the Primary Market Area from 2000 to 2010. Between 2000 and 2010, the number of households also increased by 15.2%. The population is projected to increase throug h the year 2020. At that time, the population is expected to be 113,642. This represents an overall growth of 22.3% between 2010 and 2020. (p. 5) The overall occupancy reported in the market is 97.0%. (p. 10) Affordable family projects are 99% occupied . (p. 12) Underwriter Comments: The high leasing velocity of 42 units/mo at The Point at Ben White suggests a need for affordable housing in the PMA. 16434 ThinkEAST 10 of 20 Printed: 10/5/1 6 ATLANTIC ...._PACIFIC -CCI IJ M"to tT'l lt- 2 0 1 OPERATING PRO FORMA SUMMARY-AS UNDERWRITTEN (Applicant's Pro formo) NOi: $1,057,746 Avg. Rent: $870 Expense Ratio: 41.5% Debt Service: $886,644 B/E Rent: $788 Controllable Expenses: $2,898 Net Cash Flow: $165,102 UW Occupancy: 92.5% Property Taxes/Unit: $0 Aggrega1e DCR: 1.19 B/E Occupancy: 84.0% Program Rent Year: 2016 Pro Forma uses maximum HTC rents for all units. Average rent is $82 above break-even. Average rent with one month concessions on all 60% units is $9 above B/E. Break-even occupancy occurs with 29 units vacant (underwritten atl 3). A lower than average expense ratio is facilitated by the 100% property tax exemption. The property tax exemption results from ownership of the land by the Austin Affordable Housing Corporation. Pursuant to§ 10.302(d)(2)(K), the Applicant has included $23.7K for tenant services expense. As a governmental agency itself, the housing authority is not required to have a documented financial obligation to provide the services. The permanent lender has provided a term sheet indicating the dollar amoun1 of the services and has included the $23.7K expense in the debt coverage ratio. At cost certification and as a minimum, the $23.7K underwritten at Application will be included in the DCR calculation regardless if actually incurred. There will be no financial obligation to actually expend the funds in the tax credit LURA. If the tenant services expense was not included as an operating expense, the DCR would be 1.21 times with no change to the credit recommendation. Applicant has a master agreement with Portfolio Resident Services. PRS will provide services such as Educational Services, Family Skills, Personal Development, Recreational Activities, and other services. oplicant's income, expenses, and NOi are each within 5% of underwriting estimates, so feasibility analysis is based on r1pplicant's pro forma. I Revisions to Rent Schedule: 0 I Revisions to Annual Operating Expenses: 0 16434 ThinkEAST 11 of 20 Printed: 1 D/5/16 ATLANTIC A.PACIFIC 202 DEVELOPMENT COST EVALUATION SUMMARY-AS UNDERWRITTEN (Applicant's Costs) Acquisition $3 l 7 ,058/ ac $10,989/unit $2,000,000 Contractor Fee $2,224,068 Off-site + Site Work $1 0,734/un it $1,953,605 Soft Cost+ Rnancing $4,659,495 Building Cost $86.30/sf $70,843/un if $12,893,446 Developer Fee $3,200,000 Contingency 7.00% $5,77 0/unif $1,039 ,145 Reserves $584,958 Total Development Cost I $156 ,8 94/unit I s2a,ss4, 111 I Rehabilitation Cost N/A Quallfled for 30% Basis Boost? Located in QCT with< 20% HTC units/HH Off-site: $SOK in costs to connect to on existing water line. Site Work: $ l .3M ($7.4K/unit) for typical grading , concrete, retaining walls, and utility costs . Site amenities of $5 l 9K ($2 .SK/unit) with $2 l 9K in landscaping,$ l 55K for pool, and the rest for recreational areas, entry gates, bbq grill, and fencing . Building Cost: Applicant's building cost estimate was $2.98M or 30% higher than Underwriter's Marshall and Swift derived estimate. Applicant provided 3 contract bids that were in line with submitted Building Cost Estimate of $86.3/sq ft. Underwriter hos used contract bid from a third party Contractor as cost basis . There are many factors that contribute to the high differential in cost estimates which add to higher costs. There ore 9 different unit types with many irregular shaped units which add to higher articulation, non-rectangular corridor spaces, smaller than average room size (821 sq ft average), and other labor issues from compliance to city codes. The Development will also be subject to the Austin Energy Green Building two-star rating guidelines that add to potential cost that are harder to address with Marshall and Swift estimates. Contractor Fee: Applicant overstated Contractor's Fee by $1.529. Comments: Applicant's submitted costs will be used to determine the recommended financing structure. Sufficient contingency and available developer fee for deferral exists for cost overruns. Credit Allocation Supported by Costs : I Total Development Cost Adjusted Eligible Cost Credit Allocation Supported by Eligible Basis I s2a,ss4,717 $24,378,840 $1,068,037 I Revisions to Development Cost Schedule: 16434 ThinkEAST 12 of 20 Printed : 10/5/16 ATLANTIC ..,_PACIFIC 203 UNDERWRITTEN CAPITALIZATION BOND RESERVATION Issuer Amount I Reservation Date I Prior ity Austin Affordable PFC, Inc $25,000,000 I 8/19/2016 I Priority 3 Closing Deadline I Expected Closing Bond Structure 1/16/2017 I N/A Private Placement Comments: To be eligible for the 4% tax credit, the tax-exempt bonds must fund greater than 50% of the cost of the development (depreciable basis plus land). As structured, the % is 96%) INTERIM SOURCES Funding Source Description Amount Rate LTC Austin Affordable PFC, Inc. Issuer $22,500,000 3.73% 87% Wells Fargo HTC $3,392,716 $1.15 13% I $25,892,716 Total Sources Comments: Project will be funded with tax exempt bonds from Austin Affordable PFC, Inc (a subsidiary of the Housing Authority of the City of Austin) and will be privately placed by Citi Community Capital, who will provide the construction loan in the amount of $22,500,000. PERMANENT SOURCES PROPOSED UNDERWRITTEN Debt Source Interest Interest Amount Rate Amort Term Amount Rate Amort Term LTC Citi Community Capital $16,419,290 4.12% 35 15 $16,419,290 4.12% 35 15 58% I Total $16,419,290 $16,419,290 PROPOSED UNDERWRITTEN Equity & Deferred Fees Amount Rate %Def Amount Rate %TC %Def Wells Fargo $12 , 135,426 $1.15 $12, 135,426 $1.15 42% APC thinkEAST Development, LLC $0 0% $0 0% 0% Additional [Excess) Funds Req'd $1 $1 I Total $12,135,427 $12,135,427 $28,554,717 Total Sources Credit Price Sensitivity based on current capital structure I $1.1 sol Maximum Credit Price before the Development is oversourced and allocation is limited $0.847I Minimum Credit Price below which the Development would be characterized as i nfeasible Comments: All else equal, any increase in credit pricing would result in a reduction in credit recommendation. 1.<evisions to Sources Schedule: 16434 ThinkEAST 13 of 20 Printed: 10/5/16 ATLANTIC ....._PACIFIC 204 CONCLUSIONS Recommended Financing Structure: Gap Analysis : Total Development Cost $28,554,717 Permanent Sources $16,419,290 Gap in Permanent Financing $12, 135,427 Possible Tax Credit Allocations: Equity Proceeds Annual Credits Determined by Eligible Basis $12,280,428 $1,068,037 Needed to Fill Gap in Financing $12, 135,427 $1,055,426 Requested by Applicant $12, 135,426 $1,055,426 RECOMMENDATION Equity Proceeds Annual Credits Tax Credit Allocation $12,135,426 $1,055,426 Deferred Developer Fee I $0 I ( % deferred} t---------------~=======I Repayable in N/A omments: Credit recommendation is limited to $1,055,426 as requested by Applicant. Underwriter: Due Nguyen Manager of Real Estate Analysis: Thomas Cavanagh Director of Real Estate Analysis: Brent Stewart 16434 ThinkEAST 14 of 20 Printed: 10/5/16 ATLANTIC .. PACIFIC -COM..lllllll11111'1 fl - 205 LOCATION DATA CITY:I Austin COUNTY:! Travis PROGRAM REGION:! 7 HTC UNIT MIX Gross # # # Type Rent Units Beds Baths NRA TC60% $817 50 0 1 583 TC60% $876 20 1 1 670 TC60% $876 9 1 1 692 TC60% $876 2 1 1 696 TC60% $876 34 1 1 753. TC _60% $1 ,051 16 2 2 967 TC60% $1.051 18 2 2 1.067 TC60% $1 .051 24 2 2 1.149 TC60% $1,214 9 3 2 1 ,265 TOTALS/AVERAGES : 182 149,411 !ANNUAL POTENTIAL GROSS RENT: 16434 ThinkEAST UNIT MIX/RENT SCHEDULE thinkEAST Apartments, Austin, 4% HTC #16434 UNIT DISTRIBUTION Applicable #Beds # Units % Total Assisted Income # Units % Total Programs Eff 50 27 .5% 0 30% -0 .0% 4% Housing Tax Credits 1 65 35.7% 0 40% 0 .0% 2 58 31 .9% 0 50% 0 .0% 3 g 4 .9% 0 60% 182 100.0% 4 -0.0% 0 MR -0 .0% TOTAL 182 100.0% -TOTAL 182 100.0% UNIT MIX/ MONTHLY RENT SCHEDULE APPLICABLE PROGRAM APPLICANT'S TDHCA RENT PRO FORMA RENTS PRO FORMA RENTS Max Net Total Total Gross Utility Program Delta to Net Rent Monthly Monthly Rent per Rent Rent Allow Rent Max Rent psf per Unit Rent Rent Unit psf $817 $49 $768 $0 $1 .32 $768 $38 ,400 $38 ,400 $768 $1 ,32 $876 $59 $817 $0 $1 .22 $817 $16 340 $16 340 $B17 $1 ,22 $876 $59 $817 $0 $1.18 $817 $7 ,353 $7 ,353 $817 $1 ,18 $876 $59 $817 $0 $1 .17 $817 $1 ,634 $1 ,634 $817 $1 .17 $876 $59 $817 $0 $1.08 $817 $27,778 $27,778 $817 $1 .08 $1,051 $74 $977 $0 $1 .01 $977 $15,632 $15.632 $977 $1 .01 $1 .051 $74 $977 $0 $0.92 $977 $1 7,586 $17 ,586 . $977 $0.92 $1 .051 $74 $977 $0 $0.85 $977 $23 ,448 $2 3,448 $977 $0.85 $1 ,214 $85 $1 ,129 $0 $0.89 $1,129 $10,161 $10 ,161 $1 ,129 $0.89 $0 $1.06 $870 $158 ,332 $158.332 $870 $1.06 1 s1.a99,9a4 1s1 ,899 ,9841 15 of 20 Delta to Max $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Pro Forma ASSUMPTIONS Revenue Growth 2 .00% Expense Growth 3.00% Basis Adjust 130% Applicable Fraction 100% APP % Acquisition 3 .37% APP % Construction 3 .37% Average Unit Size 821 sf MARKET RENTS Mrkt Underwritten Analyst $979 $1.68 $979 $1 ,021 $1 .52 $1 ,021 $1 ,021 $1.48 $1 ,021 $1 ,021 $1.47 $1 ,021 $1 .021 $_1 .36 $1 ,021 $1,271 $1.31 $1,271 $1,271 $1.19 $1,271 $1,271 $1 .11 $1,271 $1 ,783 $1.41 $1,783 $1 ,127 $1.37 $1 ,127 Printed: 10/5/16 ~ANTIC ~ ... PACIFIC 206 STABILIZED PRO FORMA thinkEAST Apartments,_Austin, 4% HTC #16434 STABILIZED FIRST YEAR PRO FORMA COM PARABLES APPLICANT Database Other %EGI PerSF Per Unit Amount Amount POTENTIAL GROSS RENT $1 .06 $870 $1 ,899,984 $1 ,899 ,984 App Fees, Deposit Forfietures. Cleaning S10.00 $21 ,840 Cable, Laundry , Vending & Pet Fees $10,00 $21 ,840 o so .co $0 Total Seconda,v Income $20.00 $43.680 POTENTIAL GROSS INCOME $1,943,664 $1 ,943,664 Vacancy & Collection Loss 7.5% PGI (145,775) (145,TT5) Rental Concessions -. EFFECTIVE GROSS INCOME $1,797 ,889 $1 ,797 ,889 General & Administrative $75,446 S415/Unil $76,627 $421 3.34% $0 .40 $330 $60,000 $75,446 Manaqement $80 524 3,9% EGI $72 714 $400 499% $0 60 $493 $89 743 $89 894 Payroll & Payroll Tax $232,359 $1 ,277/Unil $220,729 $1,213 11 .56% $1 ,39 $1,142 $207.860 $220,729 Repairs & Maintenance $117,492 $646/Unil $102.67 1 $564 6,11% $0 ,73 $603 $109,800 $109,200 Electric/Gas $51,567 $2B3/Uni1 $88,240 $485 2 .50% $0.30 $247 $45,000 $51 ,567 Water. Sewer, & Trash $148,465 $816/Uno $100,285 $551 5.83% $0.70 $576 $104,800 $100,285 Property Insurance $49 ,657 $0.33 /sf $60,641 $333 2.92% $0 .35 $288 $52,500 $49.657 Property Tax {(0!0%) 2,2961 $140 ,831 $774/Untt $94,916 $522 0 ,00% $0,00 $0 $0 $0 Reserve for Replacements $63,741 $350/Untt $44,501 $245 2 .53% $0,30 $250 $45,500 $45,500 Cable TV $0 0.00% $0,00 $0 $0 $0 Supportive Services $157 $1 1.32% $0.16 $130 $23,660 $23,660 TDHCA LIHTC/HOME Compliance Fees -$0 0-40% $0.05 $40 $7,280 $7,280 TOTAL EXPENSES 41.50% $4.99 $4,100 $ 746,143 $ 773,218 NET OPERATING INCOME ("NOi") 58.50% $7.04 $5,779 $1 ,051 746 $1 024 671 jcoNTROLLABLE EXPENSES j ~.nd/Unll $2,898/Unlt j 16434 ThinkEAST 16 of 20 TDHCA Per Unit Per SF $870 $1 .06 $20.00' 7.5% PGI $415 $0.50 $494 $0 .6 0 $1213 $1 .48 $600 $0 73 $283 $0.35 $551 $067 $273 $0.33 $0 $0 00 $250 $0 30 $0 $0.00 $130 $0.16 $40 $0.05 $4,248 $5.18 $5,630 $6.86 $3,06'.l/U nirj VARIANCE %EGI % $ 0.0% $0 0.0% $0 0.0% $0 0.0% - 0,0% - 0.0% $0 42 0% -20,5% (15,446) 5 .00% -0 .2% 1151) 12 .2 8% -5 .8% (1 2,869) 6.07% 0,5% 600 287% -12 .7% (6 .567) 558% 4.5% 4 ,515 2.76% 5 .7% 2.843 000% 0.0% 2,53% 0.0% 0.00% 0.0% - 1.32% 0.0% - DAO% 0.0% 43.01% -3.5% $ (27 ,075) 56.99% 2.6% $ 27 ,075 Printed: 10/5/16 ~ANTIC •"-PACIFIC 207 CAPITALIZATION/ TO TAL DEVELOPMENT BUDGET/ ITEMIZED BASIS lhlnl<EAST Apartments, Austin, 4% HTC #16434 DEBT/GRANT SOURCES APPLICANTS PROPOSED DEBT/GRANT STRUCTURE AS UNDERWRITTEN DEBT/GRANT STRUCTURE Cu_muj.;rtive OCR Cumulative DEBT ll\'lust Pavl I Fee uw I App Pn:i.t Rate Amort Term Princinal Princioal Term Arnort Role P mt. OCR I LTC Citi Communilv C30tlal I U2 I ·1_15 917 620 4.12% 35 15 S16 419,290 S16 419 290 15 35 4~12% $886 644 1.1 9 I 575% ...,,bl, Mordot>l.o PFC. loo , I 112 I 1 15 0~00% 0 0 so $0 0 0 000% 1.19 I 00% C.ASH FLOW DEBT I GRANTS 5917 620 TOTAL DEBT/ GRANT SOURCES S16 419 290 $16 419 290 TOTAL DEBT SERVICE 5886 644 1.19 I 57.5% [NET CASH FLOW [5107,05] j S13'1.t26 l APPLICANT NET OPERATING lNOOMEj S1 ,05U C6 j s1a5~NETCASH FLOW EQUITY SOURCES APPLICANTS PROPOSED EQUITY STRUCTURE AS UNDERWRITTEN EQUITY STRUCTURE Annual I Credit Credit l Annual Credit Annual Credits! EQUITY/DEFERRED FEES DESCRIPTION %Cost Credit Price Amount Amount Price %Cost per Unit Allocation Method Wells Far.90 LO-,TCEqu"' •2.5% 51,055,42!i I 1 ,15 5 12,135,426 S1 2 . 1'15,426 Sl .1498 I Sl.055.426 42.5% S~7W I ~n1 Re11uesr APC thinkEAST Development LLC Dcfauc'.d Dt'Y--i~ Fff"I. 00% 10%-Cefenedl so 10'!!, Oe fotted> 00% Total DeveJooe, Fee:: I S3 200 000 Addl clon;:U [Ell:Cf!'M) F11na!l Req"d 00% 5 1 s, 00% TOTAL EQUITY SOURCES 42 So/• $12.135.427 $12.135.427 42.5% 15-Year Casb Flow:! S4,031 ,697 h oTA1-CAPiT~T1or,i I 528.55'.717 I ·ue:5 54.717 I 15•YtCH 'h F"IO~•ft..-On)tte-(1 FM;I 'M jDl1 ,8H I DEVELOPMENT COST I ITEMIZE D BASIS APPLICANT COST/ BASIS ITEMS TDHCA COST/ BASIS ITEMS COST VARIANCE EllaJble B.aSJ$ Eligible Basis New Const New Const,. Acquisition Rehab Total Costs Total Costs Rehab Acquisition % $ Land Aoouisition $10~9B9 / Unit $2,000,000 $2,000,000 '£10 ,9B9 / Unit 00% $0 Buildino Am,,i•ition so $ /Unit $0 $0 $ I Urnt $0 00% $0 $0 $0 $0 Off-Sites $441 / Unil $80,250 $80,250 $441 / Unit 00% $0 Site Wort< $1 .307,587 $7 ~436 I Unit $1 ,353,413 $1 ,237,355 $6,799 / Urnt $1.237.355 94% $116,058 Sile Amenities $519 942 $2.857/Um.t $519 942 $480 966 $2.643 I Un~t $480 966 81% $38...976 BuildinaCosl $12.893.446 s86.3o 1s1I $70.843/Unii $12.893.446 $13 _048_479 $71..695/Unit lss1 33 /sr $13.048.479 -12% {$155 033 l Continoencv $1.030 321 ]_00% I 700% $1 ,039.145 S1.033_676 696% I 698% $1-03D_321 0 5% $5.469 Cantraclor Fees $2.206 710 14.01% I 1400% $2 224.068 $2.223.3D2 1400% I 1.397°/• $2.206.71 0 00% $766 Solt Costs 0 •1 792 053 $10 121 / Unil •1 R42 D53 S1 842 D53 '$10 121 J Unit •1 792 D53 •a 00% $0 Financio,a C S1 451 309 $15 480 I Unil. $2 817 442 $2 8 17 442 $15 4801 Unit $1 451 309 •o 00% $0 Oeveloo_er Fee $D $3,179.000 14 99% I 1500% $3.200.000 $3.199,620 1500% I 1496% $3,179.0DD SD 00°/4 $380 Resecves $3 214/Unii S584 958 $584 958 $3.214 /UnJ1 0.0% $0 TOTAL HOUSING DEVELOPMENT COST (UNADJUSTED B $0 $24 380 368 $156 894 / Unr1 $28 554 717 $28 548101 -$156.858 I Umt $24 426 193 so 0.0% $6 616 AcaulsJtlon Cost $0 so Cantin'""'""'" $0 so Contractor's Fee {$1 ,529) Interim Interest so Developer Fee $0 so so Reserves so ADJUSTED BASIS/ COST $0 U4378 840 S156.8Wwul US 554 717 s2s s•s 101 s·,se,8SBJ,,.m $24 4.26193 SO 0.0% $6616 TOTAL HOUS ING DEVELOPMENT COSTS /Anolleant's Use,; are wfthln 5% of TD HCA Estimate\: $28,554.7 17 16434 ThinkEAST 17 of 20 Printed: 10/5/16 ~ANTIC _.., .. PACIFIC --c.O "'w,""'11 1c i-- 208 CAPITALIZATION/ DEVELOPMENT COST BUDGET/ ITEMIZED BASIS ITEMS thinkEAST Apartments, Austin, 4% HTC #16434 CREDIT CALC ULATI ON ON QUALIFIED BASIS BUILDING COST ESTIMATE Aoolicant TDHCA CATEGORY FACTOR UNITS/SF PER SF AMOUNT Construction Construction Base Cost:. I Wrap Sivie {3 or 4-story) 149 411 SF $65 :zi 9,743.371 4r:nulsi.tion R.ababllltatfon A.cauisitlon Rehabl lltatlon Adtustrnents ADJUSTED BASIS $0 $24 ,378 840 $0 $24.•2& 193 Exttnor W.all F11"11Ah 2A0% 1 57 $233.841 D«llldian of .J'.e.deral G,.t,n!, $0 $0 $0 so Eld""" D-00¾ 000 0 TOIAL ELJGJBLE BASIS $0 $24.378 B40 $0 S24 ,426193 9-ft Ce1hno> 3-30% 2.15 321 r5J1 Hiah Cos!Are.,, .t1.;tlus1men.t 130'¼ 130% Rool Adi.1.Jstmanllsl OJlO 0 TOTALAOJUSTEO BASIS so $31.,.692.,491 so $31 .754 .051 Subfloor 10 15) 1229101 A....._•i. Fril<%lon 10000¾ 10000% 10000% 100 00% Floor Cover 256 382'192 TOT AL QUALIFIED BASIS so $31 692.491 $0 S31 754.051 Breuewa~ S2734 27A42 5.02 750 130 Anntil-__:i_ble Pe11:cntaa.e. 337% 337% 337% 337% Bal< ..... f.7,7 76 7570 1 ., ?to 1,0R ANNUAL CREOIT ON BASts so $1 ,068 037 $0 $1 070.112 Pl""'h•-Fixtures $99(} 201 133 'lSB 990 cn•nOTs ON OUAIJFIEO OASIS s1~n"l7 S.1070112 RoU<Jh-ins 5485 364 1.18 176 540 BuHHn~ $1,725 182 210 313_..950 ANNUAL CREDIT CALCULATION FINAL ANNUAL UHTC AU.OCATION ~te!iarStairs <??<n 16 02• 36000 BASED ON APPLICANT BASIS Credit Price $1.1498 Varl:,nco to Roa1.1e:at Heatina/Coolina 21• 319 ,740 Method Annual Credits Proceeds Credit Allocation Credits Proceeds Enclosed Corridors $4B.40 0 000 0 Eliaible Basis $1,068,037 $12,280,428 ---Carnorts $1194 0 000 0 Needed to FHI Gan $1,055,426 $12,135,427 ---Garaoe5, 0 0.00 0 IAnn ll cant Roouost $1,055,426 $12,135,426 $1,055,426 $0 .. Comm &/or Aux Bldgs $86 06 3,107 1-79 267.381 Elevatoffi 0 000 0 Oltie.r: 000 0 Fire Sprmklers $247 179.960 298 .044 .501 SUBTOTAL 89.52 13,375.666 50% Test for Bond Flnancln for 4% Tax Credits Current Cost Multiplier 099 10901 (133 757) TaJl-e..Cffl BoiidAmounl $22.500.000 Percent Financed by I Applicant I IQ!!£a Aggr ate Basis Umil for 50% Tesl s•5,ooo.ooo Tax-Exempt Bonds 96.1% 96.2% LocalMulu<ilie< 0 .88 1107.dJ f1.6051lB0I TOTAL BUILDING COSTS 77JIIJ $11636 829 Applicant TDHCA Pl.-l'ILIICNl0t. .. ......,,b1,,1,....,,~ 330%, 1257) /$384 0151 Land~ $2,000,000 $2,000.000 amount aggregate basis can $21,596,374 $21,602,610 Contractor's OH & Profit 11 50"!, 1896) (1 338 235 1 COIII S2 l 4 □J626 S2t:W7390 inctl:!as.!! tl<!'IOle 50% les.t. lilb 923% 923% NET BUILDING COSTS $54A76/umt $66 36/sr $9,914 57B S:23403626 $23397390 16434 ThinkEAST 18 of 20 Printed : 10/5/16 J . LANTIC ~ .. PACIFIC --(Q Vll,f l,l .. jtll\-- 209 Long-Term Pro Forma thinkEAST Ap_artments, Austin, 4% HTC #16434 Growth Rate Year1 Year2 Year3 Year4 Years EFFECTIVE GROSS INCOME I 2.00% $1.797.889 $1,833 ,84 7 $1,870.524 $1 ,907 .934 $1,946 ,093 TOT AL EXPENSES I 3.00% $746 ,143 $767,630 $789,743 $8 12,502 $835,925 NET OPERA TING INCOME ("NOi") $1 ,051 ,746 $1 ,066,217 $1 ,080,781 $1,095,432 $1,110,168 MUST -PAY DEBT SERVICE Citi Community Capital $886,644 S88 6,644 S8 86,644 $886.644 $886 ,644 T OT A L DEBT SERVICE $886,644 $886,644 $886,644 $886,644 $886 ,644 ANNUAL CASH FLOW $165,1 02 $179,573 $194,137 $208,788 $223,524 CUMULATIVE NET CASH FLOW $165,102 $344,675 $538,812 $74 7,600 S971 124 DEBT COVERAGE RATIO 1.19 1,20 1.22 1.24 1.25 EXPENSE/INCOME RATIO 41 .5% 41 .9% 42 .2% 42.6% 43.0% Deferred Develooer Fee Balance $0 $0 so so $0 16434 ThinkEAST 19 of 20 Yea r 10 Year15 Year20 $2.148,644 $2 ,372 ,277 $2 ,619;185 $963,704 $1 ,111 ,278 $1,281 ,740 $1,184,940 $1 ,260,999 $1 ,337,445 S886 ,644 $886.644 $886 ,644 $886,644 $886 ,644 $886,644 $298,296 $374,355 $450 ,80 1 $2 31 2,393 $4 031 .697 $6,132 86 5 1.34 1.42 1.5 1 44.9% 46 .8% 48.9% so so so Year30 Year 35 $3,192,772 $3,525,078 $1,706 ,21 9 $1,976,182 $1 ,486,553 $1 ,548,896 $886,644 $886,644 $886,644 $886.644 $599,909 $662,252 $11 468,386 $14 ,660,94 1 1.68 1.75 53.4% 56.1% $0 $0 Printed : 10/5/16 ,_,ANTIC ~ .. PACIFIC 210 16434 thinkEAST PMA Map ©2012 CALIPER; ©2014 / Disclaimer: This map is not a survey. Boundaries, distance and scale are approximate only . 16434 ThinkEAST 20 of 20 ATLANTIC ~&.PACIFIC I 211 Printed: 10/5/16 Exhibit C -Profile of Firm -Atlantic Pacific Communities, LLC ATLANTIC _.,._PACIFIC PROFILE OF FIRM FORM -Exhibit C (This Form must be fully completed and provided for each Prime or Sub-Contractor) (1) Prime X Sub-contractor __ (This form must be completed by and for each). (2) Name of Firm: Atlantic Pacifi c CommunWes, LL C Telephone:(305)357-4700 Fax: (305)230-7656 (3) Street Address, City, State, Zip: 161 NW 6th Street, Su ite 1020, Miami , FL 33136 (4) Please attached a brief biography/resume of the company, including the following information: (a) Year Firm Established; (b) Year Firm Established in [JURISDICTION]; (c) Former Name and Year Established (if applicable); (d) Name of Parent Company and Date Acquired (if applicable). See attached. (SJ Identify Principals/Partners in Firm (submit under Tab No. 5 a brief professional N/\MF TITLE 1½, OF OWNERSIIIP Howard D. Coh en Chief Executiv e Officer 44 .5% Ran dy W eisbur d Chief Operating Officer 18.5 % Stanley D . Cohen Vice Preside n t 18.5 % Kenneth J. Cohen Vice Pr esident 18 .5% (7) Proposer Diversity Statement: Check all of the following that apply to the ownership of this firm and enter where provi ded the correct p e rcentage(%) of owners hi p of each: Yes X Yes Yes Yes Caucasian Public Held Government Non-Profit American (Male 1 Corporation Agency Organization 100 % o/o % % Resident-(RBE), Minority-(MBE), or Woman-Owned-(WBE) Business Enterprise Qualifies by virtue of 51 % or more ownership and active management by one or more of the following: Housing Authority of the City of Miami Beach Co-Developer RFQ # 1-2019 212 Yes Yes Yes Yes Yes Yes Resident African Native Hispanic Asian/Pacific Hasidic Jew Owned American American American American % % % % % ----- --------~ ---- Yes Yes Yes Yes Yes Asian/Indian Woman Woman Disabled Other- American Owned Owned Veteran Specify [MBEl (Caucasian) % % % % % WMBE Certification Number :. _____________________ _ Certified by (Agency): ____________________ _ (NOTE: A CERTIFICATION/NUMBER NOT REQUIRED TO PROPOSE -ENTER IF AVAILABLE) (8) Federal Tax ID No.:,_4_6_-3_6_0_05_8_4 ______________ _ (9) If Applicable -Florida Business License No.:._N_o_t_A_.p....,_p_li_c_ab_l_e _________ _ (10) State of __ License Type and No.:._N_o_t_A...._p..,_p_li_ca_b_le _________ _ (11)Worker's Compensation Insurance Carrier: Illinois National Insurance Co PolicyNo.: WC047014231 FL Expiration Date: 7/l/20l9 (12) General Liability Insurance Carrier: Illinois National Insurance Co Policy No. WC 04701 4231 FL Expiration Date:_7_/_l/_2_01_9 ___ _ (13) Professional Liability Insurance Carrier: Argonaut Insurance Co. Policy No. IAE4207l 50-0 Expiration Date: 1/16/2020 (14) Debarred Statement: (a) X Are not presently debarred, suspended, proposed for debarment, declared ineligible or voluntarily excluded from covered transactions by a Federal, State, or Local department or agency; and (b) X Have not, within a ten (10) year period preceding this bid, been convicted of or had a civil judgment rendered against them for commission of fraud or a criminal offense in connection with obtaining, attempting to obtain or performing a public (Federal, State or Local) transaction or contract under a public transaction; violation of Federal or State Housing Authority of the City of Miami Beach Co-Developer RFQ # 1-2019 % ~ antitrust statutes or commission of embezzlement, theft, forgery, bribery, falsification or destruction of records, making false statements or receiving stolen property; and (c) X Are not presently indicted for or otherwise criminally or civilly charged by a go vernment entity (Federal, State or Local) with commission of any of the offenses enumerated in Paragraph (2) of this cettification; and ( d) X Have not within a ten (10) year period preceding this bid, had one or more public transactions (Federal, State or Local) terminated for cause of default. If "Yes," to any of the above please attach a full detailed explanation, including dates, circumstances and current status. (15) Disclosure Statement: Does this firm or any principals thereof have any current, past personal or professional relationship with any Commissioner or Officer of the HACMB? Yes O No (X) If "Yes," please attach a full detailed explanation, including dates, circumstances and current status. (16) Non-Collusion Affidavit: The undersigned party submitting this Response to the RFQ hereby certifies that such Response to the RFQ is genuine and not collusive and that said proposer entity has not colluded, conspired, connived o r agreed, directly or in directly, with any proposer or person, to put in a sham Response to the RFQ or to refrain from proposing, and has not in any manner, directly or indirectly sought by agreement or collusion, or communication or conference, with any person, to fix the qualifications price of affiant or of any other proposer, to fix overhead, profit or cost element of said qualifications price, or that of any other proposer or to secure any advantage against the HACMB or any person interested in the proposed contract; and that all statements in said qualifications are true. (17) Verification Statement: The undersigned proposer hereby states that by completing and submitting this form he/she is verifying that all information provided herein is, to the best of his/her knowledge, true and accurate, and agrees that if th e HACMB discovers that any information entered herein is false, that shall entitle the HACMB to not consider nor make award or to cancel any award with the undersigned party. HowardD.C~ Pri~~ Authorized Signature Housing Authority of the City of Miami Beach Atlantic Pacific Communities, LLC Company 6/27/2019 Date Co-Developer RFQ # l-2019 ATLANTIC •~PACIFIC Profile of Firm Form -Exhibit C (4) Please attach a brief biography/resume of the company: In September 2013 . Atlantic I Pacific Companies formed Atlantic I Pacific Communities . LLC and acquired the future development pipeline and experienced staff of a major affordable housing development company. Atlantic I Pacific Communities is for-profit limited liability company formed in Delaware and auth orized to transact business in Florida. For additional information on Atlantic I Pacific please refer to Tab 2, Section 3.E.2.bl and please visit our website at www.apcompanies.com. 215 Exhibit C -Profile of Firm -Atlantic Pacific Community Builders, LLC ATLANTIC ...,._PACIFIC PROFILE OF FIRM FORM -Exhibit C (This Form must be fully completed and provided for each Prime or Sub-Contractor) (1) Prime ____ Sub-contractor __x_(This form must be completed by and for each), (2) Name of Firm: Atlantic Paci.fie Community Builders LLC Telephone:(305)35 7-4700 Fax:(305)2 30 -7656 (3) Street Address, City, State, Zip: 161 NW 6th Street, Suite 1020, Miami, FL 33136 (4) Please attached a brief biography/resume of the company, including the following information: (a) Year Firm Established; (b) Year Firm Established in [JURISDICTION]; (c) Former Name and Year Established (if applicable); (d) Name of Parent Company and Date Acquired (if applicable). See attached. (S) Identify Principals/Partners in Firm (submit under Tab No. 5 a brief professional N/\MI~ TITL!i 11/i1 OF OWNEl{SI I IP Howard D . Cohen Chief Executive Officer 44.5% Ran dy W eisburd Chief Operating Officer 18.5% Stanl ev D. Cohen Vice President 18.5% Kenneth J. Cohen Vice President 18.5% (7) Proposer Diversity Statement: Check all of the following that apply to the ownership of this firm and enter where prov ided the correct p ercentage (%) of ownership of each: Yes X Yes Yes Yes Caucasian Public Held Government Non-Profit American (Male) Corporation Agency Or.ganization 100 % % % % Resident-(RBE), Minority-(MBE), or Woman-Owned-(WBE) Business Enterprise Qualifies by virtue of 51 % or more ownership and active management by one or more of the following: Housing Authority of the City of Miami Beach Co -Developer RFQ # 1-2019 216 Yes Yes Yes Yes Yes Yes Resident African Native Hispanic Asian/Pacific Hasidic Jew Owned American American American American % % % % % Yes Yes Yes Yes Yes Asian/Indian Woman Woman Disabled Other- American Owned Owned Veteran Specify MBE Caucasian % % % % % WMBE Certification Number: Certified by (Agency): ____________________ _ (NOTE: A CERTIFICATION/NUMBER NOT REQUIRED TO PROPOSE -ENTER IF AVAILABLE) (8) Federal Tax ID No.:_4_6_-3_6_0_06_3_1 ______________ _ (9) If Applicable -Florida Business License No.:_N_o_t_A~p~p_li_c_ab_le __________ _ (10) State of _ELLicense Type and No.: Certified General Contractor No. CGC059835 (ll)Worker's Compensation Insurance Carrier:_A_o_n_R_i_sk_S_erv_ic_e_s _______ _ Policy No.: WC 080371933 FL Expiration Date: 07/01/2020 (12) General Liability Insurance Carrier:_T_an_n_e_r-'-, _B_al_le_w_an_d_M_a_l_o_of-'-,_In_c_. ___ _ Policy No. MGL0191104 Expiration Date: 04/0 1/2 020 (13) Professional Liability Insurance Carrier: __ N_o_t_A....;p:..:p'-l_ic_a_b_le _______ _ Policy No. ___________ Expiration Date: _______ _ (14) Debarred Statement: (a) X Are not presently debarred, suspended, proposed for debannent, declared ineligible or voluntarily excluded from covered transactions by a Federal, State, or Local departmentoragency;and (b) X Have not, within a ten (I 0) year period preceding this bid , been convicted of or had a civil judgment rendered against them for commission of fraud or a criminal offense in connection with obtaining, attempting to obtain or performing a public (Federal, State or Local) transaction or contract under a public transaction; violation of Federal or State Housing Authority of the City of Miami Beach Co-Developer RFQ # 1-2019 % antitrust statutes or commission of embezzlement, theft, forgery , bribery, falsification or destruction of records, making false statements or receiving stolen property; and (c) X A re not presently indicted for or otherwise criminaJly or civilly charged by a government entity (Federal, State or Local) with commission of any of the offenses enumerated in Paragraph (2) of this certification; and (d) X Have not within a ten (10) year period preceding this bid, had one or more public transactions (Federal, State or Local) terminated for cause of default. If "Yes," to any of the above please attach a full detailed explanation, including dates, circumstances and current status. (15) Disclosure Statement: Does this firm or any principals thereof have any current, past personal or professional relationship with any Commissioner or Officer of the HACMB? Yes O No 00 If "Yes," please attach a full detailed explanation, including dates, circumstances and current status. (16) Non-Collusion Affidavit: The undersigned party submitting this Response to the RFQ hereby certifies that such Response to the RFQ is genuine and not collusive and that said proposer entity has not colluded, conspired, connived or agreed, directly or indirectly, with any proposer or person, to put in a sham Response to the RFQ or to refrain from proposing, and has not in any manner, directly or indirectly sought by agreement or collusion, or communication or conference, with any person, to fix the qualifications price of affiant or of any other proposer, to fix overhead, profit or cost element of said qualifications price, or that of any other proposer or to secure any advantage against the HACMB or any person interested in the proposed contract; and that all statements in said qualifications are true. (17) Verification Statement: The undersigned proposer hereby states that by completing and submitting this form he/she is verifying that all information provided herein is, to the best of his/her knowledge, true and accurate, and agrees that if the HACMB discovers that any information entered herein is false, that shall entitle the HACMB to not consider nor make award or to cancel any award with the undersigned party. Housing Authority of the City of Miami Beach Atlantic Pacific Community Builders, LLC Company } <o j11 _1~ Date Co-Developer RFQ # 1-2019 ATLANTIC ...,._PACIFIC Profile of Firm Form -Exhibit C (4) Please attach a brief biography/resume of the company: In September 2013 , Atlantic I Pacific Companies formed Atlantic I Pacific Community Bu il ders , LLC. Atlantic J Pacific Community Builders, LLC is for-profit limited liability company formed in Delaware and authorized to transact business in Florida. For additional information on Atlantic I Pacific please refer to Tab 2, Section 3.E.2.bl and please visit our website at www.apcompanies.com. 219 Tab 7 -Exhibit D-References REFERENCES -Exhibit D ATLANTIC _..,.,,.PACIFIC Provide the name, mailing address, and telephone number of two community partner references, two housing authority references, two tax credit investor references , and one housing finance agency reference. References must agree to and actually verify Respondent's representations. Community Partner Catholic Health Services Mailing address: Email Address jcata ni a@chsfla .com 4790 North State Road 7 Phone 954-484-1515 Lauderdale Lakes, FL 33319 Contact Name and Title Joseph Catania , President and CEO Community Partner Step-Up Program -Housing Authority of the City of Fort Lauderdale Email Address SStrawbri dge@hacfl .com Mailing address: Phone 954-556-4100 437 SW 4th Avenue Contact Name and Title Scott Strawbridge , Director of Development and Facilities Ft. Lauderdale, FL 33315 Housing: Authoritv Housing Authority of the City of Fort Lauderdale Mailing address : Email Address tenglish@hactl .com 437 SW 4th Avenue Phone 954-525-6444 Ft. Lauderdale, FL 33315 Contact Name and Title Tam Engl ish, Executive Director I Housing Authority Housing Authority of the Ciiy of Austin Mail ing address : Email Address ronk@hacanet.org 1124 S IH 35 Frontage Rd . Phone 512-477-4488 Austin, TX 78704 Contact Name and Title Ron Kowal, Vice-President, Asset Management/Housing Development I Tax Credit Investor Bank of America Merrill Lynch Mailing address : Email Address marianne.c.votta@baml.com 225 Franklin Street Phone 617-346-2282 Boston , MA 02110 Contact Name and Title Marianne Votta , Senior VP/ Asset Manageme nt Executive I Tax Credit Investor Wells Fargo Community Lending & Investment Mailing address: Email Address Neal.Deaton@wellsfargo .com 301 South College St. Phone 704-383-9524 17th Floor Contact Name and Title Neal Deaton, Sr. Vice President Charlotte , NC 28202 I Housing Finance A2ency Housing Finance Authority of Broward County Mailing address: Email Address nhoward@broward .org 110 NE 3rd St., Suite 300 Phone 954-357-4900 Ft. Lauderdale, FL 33301 Contact Name and Title Norman Howard, Manager I Housing Authority of the City of Miami Beach Co-Developer RFQ # 1-2019 220 Tab 7 -Acknowledgement of Receipt of Amendment(s) and/or Addenda ATLANTIC ~ .. PACIFIC ACKNOWLEDGMENT OF RECEIPT OF AMENDMENT(S) AND/OR ADDENDA I. AMENDMENT NUMBER(S) and dates issued: _________ _ Addendum #1 issued on June 25, 2019 2. ADDENDUM(A) NUMBER(S) and dates issued: __________ _ 3. ISSUED BY: The Housing Authority of Miami Beach (HACMB) 4. BRIEF DESCRIPTION OF AMENDMENT(S): (attach copy(s) of the first page of the Amendment(s) as issued by the HACMB) 5. BRIEF DESCRIPTION OF ADDENDUM(A): (attach copy(s) of the first page of the Addenda(s) as issued by the HACMB) 6. THE ABOVE SOLICITATION IS AMENDED OR CLARIFIED AS SET FORTH IN THE ATTACHED AMENDMENT(S) OR ADDENDUM(A) AS ISSUED BY THE HACMB. RESPONDENTS MUST ACKNOWLEDGE RECEIPT OF THIS/THESE AMENDMENT(S) OR ADDENDUM (A) PRIOR TO THE HOUR AND DATE SPECIFIED FOR RECEIPT OF QUALJFICA TIONS , BY SIGNING THIS FORM BELOW. EXCEPT AS PROVIDED HEREIN, ALL TERMS AND CONDITIONS OF THE SOLICITATION REMAIN UNCHANGED AND IN FULL FORCE AND EFFECT. ACKNOWLEDGMENT OF RECEIPT: Signature of Principal of Respondent Name: Howard D. Cohen ----------- Title: Chief Executive Officer ----------- Date : 6 /26/2019 ----------- Housing Authority of the City of Miami Beach Co-Developer RFQ # 1-2019 221 Tab 7 -Acknowledgement of Receipt of Amendment(s) and/or Addenda ATLANTIC ....,._P A Cl Fl C ADDENDUM# 1 Housing Authority of the City of Miami Beach RFQ #1-2019 Co-Developer for New Construction in Miami Beach Date: June 25, 2019 The following questions were submitted by prospective Respondent(s). The HACMB's responses are presented in italicized text. 1. Do you have zoning and density information for each site? How many units can be built? All three sites are zoned RM-1 Residential MultifamiZY Low Intensity. All three sites are located in the Normandy Isles Local Historic District, and the North Beach Neighborhood Conservation District. The HACMB would like to maximize affordable units as zoning allows for and project supports. 2. Can the existing buildings be demolished? It is possible, however the demolition of the buildings would require approvalfi-om the M;ami Beach Historic Preservation Board as part of the development approval process. 3. There appears to be conflicting requirements regarding the financials, do you need audited financials or certified financials? Audited financials are preferred. However, if audited financials are unavailable, certified financials will be accepted. 4. Does HACMB have the ability to provide Project Based Vouchers {PBV)? The HACMB has some PBV capacity available and may be able to provide PBV to one or more projects depending on project needs and PBV availability at that time. 5. Are the sites subject to HUD regulations, such as Davis-Bacon wage rates, Environmental Clearance? Applicable U.S. HUD regulations are determine d by the funding source. Any project using U.S. HUD funds will trigger Davis-Bacon prevailing wage requirements, Environmental Re view requirements, etc. 222 Tab 7 -Acknowledgement of Receipt of Amendment(s) and/or Addenda ATLANTIC �-.PACIFIC -11-c, .... 1,11111,1t1- 6.Have the Phase 1 or 2 Environmental reports been performed on the sites? If so, please provide a copy? Yes. Phase 1 reports for the vacant land parcels are attached 7. Are all of the units occupied on the 2 lots? If so, what is HACMB's plan for relocating the residents? Occupancy at the two buildings is currently at 100% Any required relocation will be the responsibility of the co-developer. 8.Are there any existing mortgages and/or LURA.s? If so, please detail. No. 9.Section 3.E.2.b.7 - Financial Statements: Please clarify what the housing authority would like to see for "Respondent shall also provide any management letters." An auditor may have included a management letter to the Respondent as part of an audit. A1anagemenf Zellers generally document deficiencies in internal control or other issues and include recommendations for improvement. Respondent shall provide any such management letters. 10.Section 3.E.2.b.12 -References: Are these the same references required in Section 3.E.2.b.6 and Exhibit D? Yes. Please also note that as per Section 3.E.2.b.6, Respondent shall include the name of a contact at each housing authority with which you have prior experience and their phone number and e-mail address. 11.Scoring item 1.5: 20 points will be awarded for Exhibit B-2, a. through e. Is this fo.r Exhibit Bon pages B-1 to B-3 (pages 23 to 25 of the RFQ), and items a. through e. on page B-3 (page 25)? 20 points will be awarded/or items a. through e. on page B-3 (page 25 of the RFQ). 12. If so, under the Mandatory Requirement on page 45 for Exhibit B it references Section 3.E.2.b.6 which requires a description of 5 developments. Are these p.rojects the basis for scoring 20 points? Page 2 of 4 223 Tab 7 -Acknowledgement of Receipt of Amendment(s) and/or Addenda ATLANTIC _..,.._PACIFIC Respondents should.focus on the four most recently completed developments. 20 points will be awarded for items a. through e. on page B-3 (page 25 of the RFQ). 13.Exhibit B provides columns for 4 developments -are only 4 required for Exhibit B? Yes. Respondents should.focus on the.four most recently completed developments. 14.For items a. through e. on page B-3 are these narratives specific to the 4 developments described, or are they stand-alone narratives in addition to the narratives in Section b. (3.E.2.b.l through 3.E.2.b.12) on pages 7 through 11, and Section c. on page 12? Items a. through e. on page B-3 refer to the four developments indicated in Exhibit B. Additional narratives can be added as necessary. 15.Please provide a link to where future amendments, etc may be located. Addenda will be emailed to interested parties. Respondents are responsible for insuring receipt of any addendum to this RFQ. 16.Do you have a schedule for the completion of the co-developer selection process? The HACMB anticipates that the selection of the co-developer will occur in August 2019. 17. Is there a preference regarding rehabilitation vs. replacement of the existing buildings? New construction on the site is preferred, however it would depend on the project contemplated 18.Please provide occupancy data for the existing buildings. Are the tenants month to month? Are they on Public Housing contracts and subject to relocation? Occupancy is currently at 100%. All eight units are currently leased on an annual basis. Three units are occupied by Section 8 HCV voucher holders. The buildings are not Public Housing sites. 19.Do you anticipate providing Section 8/public housing assistance to the existing and/or new tenants? Three units are occupied by Section 8 HCV voucher holders. Project Based Vouchers (P BV) is an option at the HA CME 's determination of availability and project appropriateness. 20.Does the Authority envision any re-zoning? Page 3 of 4 224 Tab 7 -Acknowledgement of Receipt of Amendment(s) and/or Addenda ATLANTIC ~&.PACIFIC No. All three sites are zoned RM-1 Residential Multifamily Low Intensity. 21. 3.E.2.b.10 on page 10 asks that we provide "any management letters". Please clarify what you are looking for. An auditor may have included a management letter to the Respondent as part of an audit. Management letrers generally document deficiencies in internal control or other issues and include recommendations for improvement. Respondent shall provide any such management letters. 22. Item 1.5 refers to "Exhibit B-2, a through e". I have been unable to locate this exhibit. Please advise. Item 1.5 has been revised as follows: Responses to Exhibit B, page B-3, a through e. This section is located on page 25 of 45 of the RFQ. OTHER The CO-DEVELOP ER RFQ CHECKLIST has been revised lo reflect the answer to Question 22 and to correct the maximum points to be awarded for Project Approach and Ability to Meet Deadlines (10 points), and Responses to Exhibit B, page B-3, a through e (20 points). Respondents shall use the revised attachment as part of their submission. The RFQ pick-up list as of the date of this Addendum is attached for your information. ······························································-················ This Addendum MUST be returned with your response to the RFQ on the established due date. ACKNOWLEDGMENT OF RECEIPT: Signature of Principal of Respondent Name: Howard D. Cohen Title: Chief Executive Officer Date: b { t<b f 2,0l 4 I Pa e 4 of 4 225 P. '-iLANTIC ~~PACIFIC APC KEY STAFF EXPERIENCE ---COMMUNITIES--- Development Name Project Address • of Units Type & Source of Finance & Subsidy Capital Raised Market Set-Asides AMl"/a YearBultt PROSPECT PARK 5500 NW 31st Avenue 125 Reilly Mortgage Group (Broward County MFRS) $ 6,000,000 Family 123 units @ 60% AMI 1999 Ft. Lauderdale, FL 33309 County HOME Loan $ 700,000 2 units @ 50% AMI Broward County 4% Housing Credits, John Hancock $ 3,456,836 2 TINSLEY COVE 12535 Tinsley Circle 172 Neighborhood Lending Partners, Inc. $ 3,800,000 Family 26 units @ 35% AMI 1999 Tamp a, FL 33612 County SHIP Loan $ 671,000 146 units @60% AMI Hillsborough County 9% Housing Credits, Lendlease $ 7,546,000 3 COLLEGE PARK 6450 College Park Circle 210 American Property Financing, lnc./Freddie MAC (FHFC Bonds) $ 9,900,000 Family 42 units @ 50% AMI 1999 Naples, FL 34104 American Property Financing, lnc./Freddie MAC $ 2,500,000 168 units@60% AMI Collier County 4% Housing Credits, Richman Group $ 4,238,876 4 JUBILEE COURTYARDS 119 Redland Road 98 Charter/MAC (Dade County MFRS) $ 4,150,000 Family 98 Units at 60% AMI 1999 Join Venture with Jubiliee CDC, Florida City, FL 33034 County SHIP Loan $ 900,000 a non-profit corporation Miami-Dade County 4% Housing Credits, Related Capital Company $ 2,858,000 5 OAKS TRAIL 1300 No. Oak Street 123 MuniMae/MMA Financial (Fannie Mae DUS) $ 1,550,000 Family 19 units @ 35% AMI 2000 Arcadia, FL 34266 County SHIP Loan $ 462,500 104@60%AMI Desoto County 9% Housing Credits, Related Capital Company $ 7,202,000 6 WESTVIEW GARDEN 2351 NW 119th Street 160 MuniMae/MMA Financial (Fannie Mae DUS) $ 1,900,000 Elde~y 24 units @ 35% AMI 2001 Miami, FL 33167 County SHIP Loan $ 1,000,000 136 units@60% AMI Miami-Dade County 9% Housing Credits, Related Capital Company $ 8,989,000 7 DOUGLAS POINTE 3840 NW 183rd Street 176 Charter/MAC (Dade County MFRS) $ 7,100,000 Family 18 units @ 33% AMI 2001 Miami, FL 33055 County Loans $ 1,250,000 158 units @ 60% AMI Miami-Dade County FHFC State Apartment Incentive Loan $ 1,825,000 4% Housing Credits, Related Capital Company $ 5,015,000 8 SUMMERLAKE 5941 Summe~ake Drive 108 Charter/MAC (Broward County MFRB) $ 5,600,000 Family 17 units @ 25% AMI 2001 Davie, FL 33314 County SHIP Loan $ 450,000 91 units @ 60% Broward County FHFC State Apartment Incentive Loan $ 1,100,000 4% Housing Credits, Related Capital Company $ 2,690,000 9 CAMERON CREEK 1720 NW 3rd Terrace 148 Neighborhood Lending of South Florida, Inc. $ 2,800,000 Family 24 units @ 33% AMI 2002 Florida City, FL 33034 FHFC State Apartment Incentive Loan $ 1,125,000 21 units @ 50% AMI Miami-Dade County County SHIP Loan $ 700,000 103 units @ 60% AMI County SURTAX Loan $ 500,000 9% Housing Credits, Related Capital Company $ 6,512,000 10 ORCHARD PARK 15th Street SE, 3rd Ave SE 84 Neighborhood Lending Partners (Permanent) $ 2,000,000 Farmworker 13 units @30% AMI 2002 Ruskin, FL 33570 FHFC State Apartment Incentive Loan $ 870,000 4 units @ 50% AMI Hillsborough County County SHIP Loan $ 700,000 67 units @ 60% AMI County SHIP/CDFI Loan $ 600,000 9% Housing Credits, Related Capital Company $ 2,688,000 11 WILLOW CREEK 6801 Willow Creek Circle 120 Neighborhood Lending Partners, Inc. $ 2,900,000 Elderly 18 units @ 30% AMI 2002 North Port, FL 34287 FHFC State Apartment Incentive Loan $ 1,225,000 102 units @ 60% AMI Sarasota County 9% Housing Credits, Related Capital Company $ 3,985,000 12 JACARANDA TRAIL Hargrave Street 50 Neighborhood Lending Partners of West FL, Inc. $ 450,000 Family 8 units @45% AMI 2002 Arcadia, FL 34266 FHFC State Apartment Incentive Loan $ 519,000 42 units @ 60% AMI DeSoto County 9% Housing Credits, Related Capital Company $ 3,042,000 13 SANTA CLARA 2000 NW 12th Avenue 208 Neighborhood Lending Partner of So. FL, Inc. $ 4,100,000 Family 32 units @ 33% AMI 2004 On the Santa Clara Metrorail Station Miami, FL 33142 County HOME Loan $ 1,750,000 31 units @ 50% AMI Miami-Dade County County SURTAX Loan $ 250,000 145 units @ 60% AMI 01-0"U)D:_00D:_0022 City HOME Loan $ 750,000 9% Housing Credits, Related Capital Company $ 12,000,000 }'TiLANTIC ~6.PACIFIC APC KEY STAFF EXPERIENCE ---C 0 MM UN IT IE S--- Development Name Project Address #ofUnils Type & Source of Finance & Subsidy Capital Raised Market Set-Asides AM/% Year Built 14 COUNTRY MANOR 315 State Road 62 120 Neighborhood Lending Partners s 979,259 Farmworker 18 units @30% AMI 2004 Bowling Green, FL 33834 FHFC Stale Apartment Incentive Loan s 1,930,000 102 units @ 60% AMI Hardee County County Grant s 10,000 9% Housing Credits, Related Capital Company s 7,503,000 15 WILLOW CREEK II 6551 Willow Creek Circle 104 Charter/MAC (Lee County MFRB) s 4,130,000 Elderly 9 units @ 30% AMI 2003 North Port, FL 34287 FHFC State Apartment Incentive Loan s 800,000 104 units @ 60% AMI Sarasota County County SHIP/CDFI Loan s 600,000 4% Housing Credits, Related Capital Company s 1,970,000 16 HERON POND 1230 Village Lakes Blvd 156 Regions Bank (Lee County MFRB) s 6,500,000 Elderly 7 units @ 35% AMI 2003 Lehigh Acres, FL 33916 FHFC State Apartment Incentive Loan s 1 ,500 ,000 149 units @ 60% AMI Lee County 4% Housing Credits, Guilford Capital s 2,848,000 17 ALLAPATTAH GARDENS 3400 NW 11th Place 128 Charter/MAC (Dade County MFRB) s 6,400,000 Family 6 units @ 35% AMI 2004 On the A/lapattah Metrorail Station Miami, FL 33127 FHFC State Apartment Incentive Loan s 1,500,000 122 units @60% AMI Joint venture with New Century Miami-Dade County City of Miami HOME Loan s 400,000 Development Corp., a nan-profit County HODAG & SURTAX Loan s 1,250,000 4% Housing Credits, Related Capital Company s 3,472,000 18 MERIDIAN WEST 6725 Shrimp Road 102 Neighborhood Lending Partners s 3,800,000 Family 16 units @30% AMI 2004 Florida Keys (Lower Keys) Key West, FL 33040 FHFC State Apartment Incentive Loan s 2,000,000 86 units @ 60% AMI Monroe County County CDFI Loan s 500,000 Monroe County Land Authority s 1,500,000 County SHIP Loan s 75,000 9% Housing Credits, Related Capital Company s 8,210,000 19 SONRISE VILLAS New York Avenue 160 Neighborhood Lending Partners, Inc. $ 3,500,000 Farmworker 20 units @ 40% AMI 2004 Joint ventures with Hape Properties, Fellsmere, FL 32948 FHFC State Apartment Incentive Loan $ 1,500,000 140 units @50% AMI a non-profit Indian River County Federal Home Loan Bank of Atlanta AHP Loan $ 500,000 9% Housing Credits, Alliant Asset Management $ 8,799,187 20 TUSCANY LAKES 6oth Ave & Mendoza Rd 348 Bank fo America LOG (FHFC MFRB) $ 16,700,000 Family 348 units @ 60% AMI 2005 Ellenton, FL 34222 Bank of America $ 1,500,000 Manatee County 4% Housing Credits, Related Capital Company $ 6,819,000 21 GOLF VIEW GARDENS 7300 NW 3oth Place 160 Berkadia Commercial Mtg (Broward County MFRB) $ 8,850,000 Elderly 10 units @35% AMI 2005 Sunrise, FL 33322 FHFC State Apartment Incentive Loan $ 2,000,000 150 units@ 60% AMI Broward County County HOME Loan $ 194,043 County SHIP Loan $ 500,000 4% Housing Credits, Guilford Capital $ 3,444,000 22 VILLAS AT LAKE SMART 4225 Vista de Lago Dr. 220 HUD Risk Sharing Program / Wachovia [LC] (MFRB) $ 8,975,000 Family 11 unils @ 50% AMI 2003 Joint Venture with Florence Villa CDC, Winter Haven, FL 33881 FHFC State Apartment Incentive Loan ELI Loan $ 4,125,000 209 units @ 60% AMI a non-profit Polk County SHIP/CDFI Loan $ 649,500 Polk County Hurricane Housing Rental Program Loan $ 129,887 City Grant $ 150,000 4% Housing Credits, Alliant Asset Management $ 4,136,355 23 LAKE MIRROR TOWER 128 So Massachusetts Ave 76 Neighborhood Lending Partners $ 4,000,000 Market Rate Market Rate 2005 (Historic Rehabilitation) Lakeland, FL 33B01 City of Lakeland $ 4,850,000 Polk County Historic Tax Credits, Guilford Capital $ 1,876,056 24 SANTA CLARA II 1250 NW 21st Street 204 Neighborhood Lending Partner of So. FL, Inc, $ 6,500,000 Family 27 units @ 30% AMI 2005 On the Santa Clara Metrorail Station Miami, FL 33142 County SURTAX Loan $ 3,160,000 Youths Aging 177 units @60% AMI Miami-Dade County 9% Housing Credits, Related Capital Company $ 19,115,000 Out ofFoster Care 25 JACARANDA TRAIL II Hargrave Street 50 Neighborhood Lending Partners of West Florida, Inc. $ 725,000 Family 5 units @ 30% AMI 2007 Arcadia, FL 34266 DeSoto County Hurricane Housing Rental Program Loan $ 225,000 45 units @ 60% AMI DeSoto County Desoto County Grant $ 20,000 Prr1LANTIC ~~PACIFIC APC KEY STAFF EXPERIENCE ---COMMUNITIES--- Development Name Project Address # of Units Type & Source of Finance & Subsidy Capital Raised Market Set-Asides AM/% Year Built 9% Housing Credils, Related Capital Company $ 4,099,000 26 CHRISTINE COVE 3730 Soutel Drive 96 California Bank & Trust (Duval County MFRB) s 6,000,000 Elderly 96 units@ 60% AMI 2007 Joint Venture with Urban Core Jacksonville, FL 32208 FHFC State Apartment Incentive Loan s 4,000,000 Enterprises, a non-profit Duval County Duval County Loan s 1,000,000 Jacksonville Electric Authority Loan s 130,867 4% Housing Credits, AIG/Sunamerica s 3,693,000 27 COUNTRY WALK 250 Maxwell Drive 64 Bank of America (FHFC MFRB) $ 5,200,000 Family 16 units @ 45% AMI 2007 Wauchula, FL 33873 FHFC Rental Recovery Loan Program $ 5,800,000 48 units @ 60% AMI Hardee County 4% Housing Credits, Richman Group $ 3,974,000 28 BELL RIDGE II 4932 Bell Ridge Lane 48 Bank of America (FHFC MFRB) $ 4,750,000 Family 12 units @ 35% AMI 2007 Pace, FL 32571 FHFC Rental Recovery Loan Program $ 4,100,000 36 units @ 60% AMI Santa Rosa County FHFC Supplemental Loan $ 600,000 Santa Rosa Hurricane Housing Rental Program Loan $ 300,000 4% Housing Credits, Richman Group $ 2,815,000 29 MAGNOLIA CROSSING 4312 Sally Street 56 Bank of America (FHFC MFRB) $ 5,750,000 Family 14 units@ 35% AMI 2007 Pace, FL 32571 FHFC Rental Recovery Loan Program $ 5,700,000 42 units @ 60% AMI Santa Rosa County Santa Rosa Hurricane Housing Rental Program Loan $ 300,000 4% Housing Credits, Richman Group $ 3,118,000 30 SON RISE VILLAS II 70 Sonrise Place 80 Neighborhood Lending Partners of West Florida, Inc $ 5,496,639 Farmworker 80 units @ 60% AMI 2007 Joint ventures with Hope Properties, Fellsmere, FL 32948 9% Housing Credits, Alliant Asset Management $ 8,575,285 a non-profit Indian River County 31 CRESTVIEW PARK 2903 Lake Trafford Road 208 PNC Bank $ 13,000,000 Family 117 units @ 50% AMI 2007 lmmokalee, FL 34142 9% Housing Credits, PNC $ 12,413,759 91 units @ 60% Collier County 32 ARBOR CREST On Cleveland St & King St. 120 Neighborhood Lending Partners of West Florida, Inc. $ 8,600,000 Family 12 units @ 30% AMI 2006 Quincy, FL 32351 9% Housing Credits, Richman Group $ 6,674,000 108 units @60% Gadsden County 33 VALENCIA GARDEN 635 Soulh 5th Avenue 104 Neighborhood Lending Partners of West Florida, Inc. $ 2,775,000 Family 8 units@ 30% AMI 2007 Wauchula, FL CDFI Loan $ 260,000 96 units @ 50% AMI Hardee County 9% Housing Credits, Richman Group $ 9,847,000 34 ROYALTON 131 SE 1" Street 100 Wachovia s 4,750,000 Formerly 16 units @ 30% AMI 2008 (Historic Rehabilitation) Miami, FL 33130 FHFC State Apartment Incentive Loan s 3,000,000 Homeless 84 units @ 60% AMI Joint Venture with Carrfour Supportive Miami-Dade County County SURTAX Loan s 2,250,000 80 Units-Homeless Housing, non-profit HOME County/City s 2,330,000 HUD Shelter Plus Care s 2,000,000 HUD Homeless Housing Assistance Grant s 750,000 9% Housing Credits, Wachovia s 9,674,413 35 ALABASTER GARDENS 929 Massachussettes Ave. 147 California Bank & Trust (FHFC MFRB) $ 9,000,000 Elderly 147 units@ 60% AMI 2007 Joint Venture with Circle.Inc., Pensacola, FL 32505 FHFC State Apartment Incentive Loan $ 4,000,000 a non-profit Escambia County Escambia County Hurricane Housing Rental Loan $ 2,000,000 4% Housing Credits, AIG/Sunamerica $ 5,089,590 36 BELL RIDGE 4500 Pace Lane 122 Bank of America $ 5,600,000 Family 122 units @ 60% AMI 2007 Pace, FL 32571 Santa Rosa Hurricane Housing Rental Program Loan $ 1,400,000 Santa Rosa County 9% Housing Credits, Richman Group $ 9,281,000 37 ST _ LUKE'S LIFE CENTER 909 Quincy Street 150 Neighborhood Lending Partners of West Florida, Inc $ 3,500,000 Elderly 27 units @ 30% AMI 2007 Joint venture with St. Luke's Lakeland, FL 33815 Polk County Hurricane Housing Rental Program $ 1,502,763 123 units @60% AMI Ministries, Inc., non-profit Polk County 9% Housing Credits, Richman Group $ 14,807,000 } >-r-1LANTIC ~&.PACIFIC APC KEY STAFF EXPERIENCE ---COMMUNITIES--- Development Name Project Address fl of Units Type & Source of Finance & Subsidy Capital Raised Marf(et Set-Asides AM/% Year Built 3B AMBER GARDEN 1320 NW 24th Street 110 Neighborhood Lending Partners of SO Florida, Inc. $ 4,150,000 Elderly 15 units @ 30% AMI 2008 APC acquired GP interest in 2019 Miami, FL 33142 County SURTAX Loan $ 3,825,000 95 units @ 60% AMI Miami-Dade County City HOME Loan $ 675,015 9% Housing Credits, Wachovia $ 17,283,365 39 TALLMAN PINES 700 NE 41 st Street 176 Bank of America $ 6,400,000 Family 27 units @ 30% AMI 2009 Joint venture with Broward County Deerfield Beach, FL 33064 County HOME Loan $ 1,000,000 149 units@ 60% AMI Housing Au/hority Broward County 9% Annual Credits, Richman Group $ 26,051,895 40 VILLA PATRICIA I 234-42 NE 79th Street 125 Neighborhood Lending Partners of So. Florida, Inc. $ 10,000,000 Elderly 23 units @ 30% AMI 2008 Miami, FL 33138 County SURTAX Loan $ 5,380,000 102 units @ 60% AMI Miami-Dade County City HOME Loan $ 674,000 9% Housing Credits, Richman Group $ 18,225,000 41 TALLMAN PINES II NE 41 st Street & NE 8th Ave 24 Bank of America (FHFC MFRS) $ 3,654,876 Family 4units@30% 2008 Joint venture with Broward County Deerfield Beach, FL 33064 FHFC Rental Recovery Loan Program $ 3,394,876 20 units @ 60% Housing Authority Broward County FHFC Supplemental Loan $ 260,000 4% Housing Credits, Richman Group $ 2,022,000 42 CRESTVIEW PARK II 2903 Lake Trafford Road 96 PNC Bank $ 4,090,000 Family 96 units @ 60% 2008 lmmokalee, FL 34142 9% Housing Credits, PNC $ 12,901,460 Collier County 43 DIXIE COURT 950 NW 4th Street 122 PNC Bank s 2,650,000 Family 25 units @ 30% 2008 Joint venture with the Housing Fort Lauderdale, FL 33311 Florida Housing Go Zone SAIL Loan s 1,025,000 97 units @ 60% Authority of the City of Ft. Lauderdale Broward County Housing Authority of City of Ft. Lauderdale Loan s 965,000 Housing Authority of City of Ft. Lauderdale Grant s 250,000 9% Housing Credits, PNC s 12,009,000 44 VILLA PATRICIA II 7831 NE 2nd Avenue 125 Neighborhood Lending Partners of So. Florida, Inc. $ 7,100,000 Elderly 19 units @ 33% 2009 Miami, FL 33138 County SURTAX Loan $ 3,825,000 106 units @ 60% Miami-Dade County 9% Housing Credits, Richman Group $ 22,093,000 45 VILLA PATRICIA Ill 7831 NE 2nd Avenue 89 Neighborhood Lending Partners of So. Florida, Inc. $ 8,710,000 Family 14 units@ 33% 2009 Miami, FL 33138 FHFC Rental Recovery Loan Program $ 3,980,301 75 units @ 60% Miami-Dade County 9% Housing Credits, Richman Group $ 19,566,000 46 POINCIANA GROVE 5601 NW 2nd Avenue 80 Bank of America $ 6,800,000 Elderly 12 units @33% 2009 Miami, FL 33127 County SURTAX Loan $ 3,200,000 68 units @ 60% Miami-Dade County 9% Housing Credits, Richman Group $ 18,821,000 47 MORRIS COURT II 1351 North K Street, 74 PNC Bank $ 1,100,000 Family 12 units @35% 2008 Joint venture with Area Housing Pensacola, FL 32501 Escambia County Hurricane Housing Rental Program $ 1,240,000 62 units @ 60% Commission (Housing Authority) Escambia County 9% Housing Credits, PNC $ 10,009,000 48 VILLAGE ALLAPATTAH II 2370 NW 17th Avenue 90 Bank of America $ 6,500,000 Elderly 14 units @33% 2009 Mixed Use Development Miami, FL 33142 FHFC Rental Recovery Loan Program $ 2,733,048 76 units @ 100% Miami-Dade County FHFC Supplemental Loan $ 910,000 9% Annual Credits, Richman $ 22,595,000 49 VILLAGE ALLAPATTAH I 2370 NW 17th Avenue 110 Bank of America $ 8,000,000 Family 17 units@33% 2009 + YMCA of Greater Miami Facility Miami, FL 33142 County SURTAX Loan $ 4,886,541 93 units @ 60% Mixed Use Development Miami-Dade County 9% Housing Credits, Richman Group $ 22,558,000 50 MORRIS COURT Ill 1351 North K Street, 50 PNC Bank (FHFC MFRS) $ 4,500,000 Elderly 8 units@35% 2008 Joint venture with Area Housing Pensacola, FL 32501 FHFC Rental Recovery Loan Program $ 4,286,269 42 units @ 60% Commission (Housing Authority) Escambia County Escambia County $ 1,000,000 4% Housing Credits, PNC $ 2,727,727 51 DIXIE COURT II 950 NW 4th Street 32 FHFC Rental Recovery Loan Program $ 5,346,305 Family 8units@30% 2008 ;~LANTIC ~ .. PACIFIC APC KEY STAFF EXPERIENCE ---COMMUNITIES--- Development Name Project Address •otUnits Type & Source of Finance & Subsidy Capital Raised Market Set-Asides AM/% Year Built Joint venture with the Housing Fort Lauderdale, FL 33311 4% Housing Credits, PNC $ 2,237,446 24 units @ 60% Authority of the City of Ft. Lauderdale Broward County 52 HERON POND II 1230 Village Lakes Blvd 100 PNC Bank $ 2,100,000 Elderly 15 units @ 35% 2009 Lehigh Acres, FL 33916 9% Housing Credits, PNC $ 11,487,000 85 units @ 60% Lee County 53 SILURIAN POND 2800 Hollywood Avenue 72 PNC Bank (FHFC MFRB) $ 7,000,000 Family 12 units@30% 2009 Joint Venture with Circle, Inc., Pensacola, FL 32505 FHFC Rental Recovery Loan Program $ 8,490,000 6 units@35% a nan-profit Escambia County Escambia County Hurricane Housing Rental Program $ 1,147,870 54 units @ 60% 4% Housing Credits, PNC $ 3,044,496 54 DIXIE COURT Ill 325 W Dixie Ct., 926 S Dixie Ct., 100 Bank of America $ 3,600,000 Family 20 units @ 30% 2009 Joint venture with the Housing & 301 NW 9th Ave Housing Authority Loan $ 250,000 80 units @ 60% Authority of the City of Ft. Lauderdale Ft. Lauderdale, FL 33311 Broward AHP Loan $ 125,000 Broward County FHFC Supplemental Loan $ 850,000 9% Housing Credits, PNC $ 11,807,635 55 SEA GRAPE 1 001 & 1 003 70th St Ocean 56 Neighborhood Lending Partners of So. Florida, Inc. $ 2,400,000 Family 12 units @30% 2009 Florida Keys (Middle Keys) Marathon, FL 33050 Florida Housing SAIL Loan $ 1,854,549 44 units @ 60% APC acquired GP interest in 2019 Monroe County 9% Housing Credits, Wachovia Bank $ 12,196,280 56 SEA GRAPE II 1001 & 1003 7oth St Ocean 28 Neighborhood Lending Partners of So. Florida, Inc. $ 320,022 Family 6units@30% 2009 Florida Keys (Middle Keys) Marathon, FL 33050 Florida Housing SAIL Loan $ 991,033 5units@45% APC acquired GP interest in 2019 Monroe County FHFC Supplemental Loan $ 255,000 17 units@60% 9% Housing Credits, Wachovia Bank $ 5,914,409 57 VILLAGE CARVER I 401 NW 71st Street 112 Bank of America Construction Loan $ 7,000,000 Family 17 units @ 33% 2010 Miami, FL 33150 County SURTAX Loan $ 4,350,000 95 units @ 60% Miami-Dade County 9% Housing Credits, Richman Group $ 18,321,543 58 PALAFOX LANDING 7220 North Palafox Street 96 County HOME Loan $ 640,000 Family 15 units @ 35% 2011 Joint venture w. non-profit, Community Pensacola, FL 32503 Escambia County Hurricane Housing Rental Program $ 1,000,000 81 units@ 60% Enterprise Investment Inc. Escambia County ARRA TCAP Loan $ 2,880,000 ARRA Exchange Credits (TCEP Loan) $ 8,455,940 59 CHARLOTTE CROSSING 520 Rio De Janeiro Avenue 82 ARRA TCAP Loan $ 3,025,443 Elderly 1 O units @ 40% 2011 Punta Gorda, FL 33983 Charlotte County Hurricane Housing Rental Program $ 2,145,226 72 units @ 60% Charlotte County 9% Housing Credits, Richman Group $ 8,078,502 60 WAHNETA PALMS 116 2nd Wahneta Street E 64 ARRA Exchange Credits (TCEP Loan) $ 3,165,176 Family 7 units@40% 2011 Winter Haven, FL 9% Housing Credits, Raymond James $ 7,188,481 57 units @ 60% Polk County 61 NORTHWEST GARDENS I NW 10 Ave. & NW7 & 8 Streets 143 First Housing Development Corporation $ 3,700,000 Elderly 29 units @ 28% 2011 AcquisWon/Rehabilitation Fort Lauderdale, FL 33311 Broward AHP Loan $ 500,000 114 units@60% Joint venture with the Housing Broward County ARRA Exchange Credits (TCEP Loan) $ 18,232,500 Authority of the City of Ft. Lauderdale 62 LABRE PLACE 350 NW 4th Street 90 FHFC State Apartment Incentive Loan $ 4,000,000 Formerly 50 units @ 33% 2011 Miami, FL 33128 City HOME Loan $ 837,053 Homeless 40 units @ 60% Miam-Dade County ARRA Exchange Credits (TCEP Loan) $ 19,188,358 63 VILLAGE CARVER II 495 NW 71st Street 100 County SURTAX Loan $ 3,312,654 Elderly 20 units @ 33% 2011 Miami, FL 33150 FHFC Supplemental Loan $ 765,000 80 units @ 60% Miami-Dade County ARRA Exchange Credits (TCEP Loan) $ 21,768,500 64 EVERETT STEWART SR. VILLAGE 5255 NW 29th Avenue 96 Citibank Community Capital $ 1,380,000 Family 20 units @ 33% 2011 On the Brownsville Metrorail Station Miami, FL 33142 County SURTAX Loan $ 951,627 76 units @ 60% Miami-Dade County FHFC Supplemental Loan $ 765,000 )~LANTIC ~.._PACIFIC APC KEY STAFF EXPERIENCE ---COMMUN IT IE 5--- Development Name Project Address #I of Units Type & Source of Finance & Subsidy Capital Raised Market Set-Asides AM/% YearBuitt ARRA Exchange Credits (TCEP Loan) s 21,768,500 65 BROWNSVILLE TRANSIT VILLAGE II 5225 NW 29th Avenue 100 Cilibank Community Capital $ 1,380,000 Elderly 10 units @33% 2011 On the Brownsville Metrorail Station Miami, FL 33142 County SURTAX Loan $ 2,406,359 90 units @ 60% Miami-Dade County ARRA Exchange Credits (TCEP Loan) $ 21,768,500 66 THE BEACON (fl<a Metro) 1000 NW 1st AVENUE 90 First Housing Development Corporation $ 2,384,493 Family 9units@33% 2011 Miami, FL 33136 County SURTAX Loan $ 2,146,945 81 units @ 60% Miami-Dade County ARRA Exchange Credits (TCEP Loan) $ 20,655,000 67 VANCE COMMONS 100 W Young Avenue 40 North Carolina Housing Finance Agency SC Loan $ 704,410 Elderly 16 units @ 50% 2011 Henderson, NC 27536_ ARRA Exchange Credits $ 3,740,287 24 units @ 60% Vance County 68 LOUIS E. BROWN I 2202 Louis E. Browns Apt 102 Public Housing Capital Funds $ 6,267,659 Family 77 units @ 33% 2011 Joint Venture with Virgin Islands Frederiksted, St. Croix Public Housing Development Grant $ 5,601,322 25 units @ 60% Housing Authority US Virgin Islands, 00840 9% Housing Credits, Raymond James $ 20,097,990 69 BROWNSVILLE TRANSIT VILLAGE Ill 5275 NW 29th Avenue 103 Citibank Community Capital Construction Loan s 16,600,000 Elderly 21 units @ 33% 2012 On the Brownsville Metrorail Station Miami, FL 33142 County SURTAX Loan s 300,000 82 units @ 60% Miami-Dade County ARRA Exchange Credits (TCEP Loan) s 5,000,000 FHFC EU TCEP (Exchange) Loan s 850,000 9% Housing Credits, Richman Group s 19,857,567 70 BROWNSVILLE TRANSIT VILLAGE IV 51 85 NW 29th Avenue 102 Citibank Community Capital Construction Loan $ 18,000,000 Family 21 units @ 33% 2012 On the Brownsville Metrorail Station Miami, FL 33142 County SURTAX Loan $ 300,000 81 units @ 60% Miami-Dade County ARRA Exchange Credits (TCEP Loan) $ 5,000 ,000 FHFC ELI TCEP (Exchange) Loan $ 850,000 9% Housing Credits, Richman Group $ 21,380,990 71 EAST VILLAGE (FKA EHLINGER) 7481 NW 33rd Street 155 Citibank Community Capital Construction Loan $ 6,525,000 Family 31 units@28% 2012 Joint venture with Broward County Davie, FL County HOME Loan $ 285,000 124 units @ 60% Housing Authority Broward County Town of Davie SHIP Loan $ 110,000 ARRA Exchange Credits (TCEP Loan) $ 5,000,000 FHFC ELI TCEP (Exchange) Loan $ 1,275,000 9% Housing Credits, Richman Group $ 19,700,830 72 NORTHWEST GARDENS Ill NW 9th Street & NW 14 Ave 150 Gibraltar Private Bank & Trust $ 3,925,000 Family 30 units @ 28% 2012 Joint venture with the Housing Fort Lauderdale, FL 33311 County HOME Loan $ 285,000 120 units@60% Authority of the City ofFt. Lauderdale Broward County ARRA Exchange Credits (TCEP Loan) $ 5,000,000 FHFC ELI TCEP (Exchange) Loan $ 1,275,000 9% Housing Credits, Raymond James $ 16,963,304 73 LAKE RIDGE COMMONS 4160 Lake Avenue 75 BB&T Bank Construction Loan $ 6,677,493 Elderly 19 units @ 30% 2012 Wilmington, NC 28406 North Carolina HFA Loan (State Tax Credit) $ 1,031,029 18 units @ 50% New Hanover County City HOME Loan $ 650,000 38 units @ 60% 9% Housing Credits, Boston Capital $ 7,931,000 74 ARCADIA PARK Kneece Road 60 US Bank NA Construction Loan $ 7,250,000 Family 15 units @ 50% 2012 Columbia, SC 29223 South Carolina HOME Loan $ 800,000 45 units @ 60% Richland County 9% Housing Credits, US Bancorp $ 8,031,797 75 DR, KENNEDY HOMES 1004 West Broward Boulevard 132 Bank of America Construction Loan $ 4,195,000 Family 27 unils @ 28% 2012 Joint venture with the Housing Fort Lauderdale, FL ARRA Exchange Credits (TCEP Loan) $ 5,000,000 105 units @ 60% Authority of the City of Ft. Lauderdale Broward County FHFC ELI TCEP (Exchange) Loan $ 1,105,000 County HOME Loan $ 285,000 9% Housing Credits, Richman Group $ 16,773,938 76 THE ANCHORAGE 2320 NW 62nd Street 22 Citi Community Capital (FHFC MFRB) $ 2,750,000 Family& 11 units @ 50% 2013 Scott-Carver Expanded HOPE VI area Miami, FL 33147 Neighborhood Stabilization Funds (NSP3) $ 5,000,000 Youth Aging Out 11 units @ 60% PM-1LANTIC _..~PACIFIC APC KEY STAFF EXPERIENCE ---COMMUNITIES--- Development Name Project Address #of Units Type & Source of Finance & Subsidy Capital Raised Market Set-Asides AM/% Year Built Miami-Dade County 4% Housing Credits, Matthew Greer s 1,168,000 Of Faster Care 77 NORTHWEST GARDENS II 765 NW 12th AVE 128 Bank of America Construction Loan $ 18,483,479 Elderly 13 units@25% AMI 2014 Joint venture with the Housing Fort Lauderdale, FL 33311 City of Fort Lauderdale Housing Authority Loan $ 2,700,000 115 units @ 60% AMI Authority of the City of Ft. Lauderdale Broward County County HOME Loan $ 160,000 (Scattered sites) 9% Housing Credits, Bank of America $ 22,783,099 78 NORTHWEST GARDENS IV 781 NW13AVE 138 Bank of America Construction Loan $ 22,192,472 Family 14 units @ 25% AMI 2014 Joint venture with the Housing Fort Lauderdale, FL 33311 City of Fort Lauderdale Housing Authority Loan $ 2,700,000 124 units @ 60% AMI Authority of the City of Ft. Lauderdale Broward County County HOME Loan $ 160,000 (Scattered sites) 9% Housing Credits, Bank of America $ 25,971,358 79 WASHINGTON SQUARE 1146 & 1500 NW 7 Court 89 Bank of America Construction Loan $ 18,229,061 Elderly 9 units @ 28% AMI 2014 Public Housing site: Miami-Dade Public Miami, FL County SURTAX Loan $ 175,000 80 units @ 60% AMI Housing & Community Development Miami-Dade County 9% Housing Credits, Bank of America $ 24,370,000 80 NORTHSIDE TRANSIT VILLAGE I 3101 NW 77th Street 100 Wells Fargo Bank (MFRB Miami-Dade HFA) $ 15,500,000 Family 23 units @ 33% AMI 2015 On the Narthside Metrorail Station Unincorp. Miami, FL 33147 General Obligation Bonds-Building Better Communities $ 4,000,000 7 units @ 50% AMI Mixed-use development. Miami-Dade County County NSP3 Loan $ 7,500,000 70 units @ 60% AMI County SURTAX Loan $ 2,750,000 4% Housing Credits, Wells Fargo $ 11,482,920 81 SAILBOAT BEND (Rehabilitation) 425 SW 4th Avenue 105 Wells Fargo Construction Loan $ 6,500,000 Elderly 21 units @ 28% AMI 2015 Joint venture with the Housing Fort Lauderdale, FL County HOME Loan $ 125,000 84 units @ 60% AMI Authority of the City of Ft. Lauderdale Broward County HACFL Loan $ 900,000 9% Housing Credits, Wells Fargo Bank NA $ 9,345,023 82 EASTBROOKE APARTMENT HOMES 323 62nd Street NE 39 Wells Fargo Bank (MFRB Washington DC) $ 4,850,000 Family 39 units @ 60% AMI 2015 AT BEULAH CROSSING Washington DC 20019 DHCD HPTF Loan $ 3,000,000 Joint venture with UrbanMatters 4% Housing Credits, Wells Fargo Bank NA $ 3,895,673 83 AUDREY M. EDMONSON TRANSIT VILLAGE 6101 NW 7th Avenue 76 Wells Fargo Bank (MFRB Miami-Dade HFA) $ 20,000,000 Family 12 Units @ 30% 2015 (fka Seventh Avenue Transit Village) Miami, FL General Obligation Bonds-Building Better Communities $ 10,592,000 14 units @50% Mixed-use development Miami-Dade County County SURTAX Loan $ 1,400,000 64 units @ 60% Joint venture-BAME CDC, a non-profit City of Miami HOME Loan $ 1,500,000 General Obligation Bonds-Cultural Arts $ 5,000,000 Federal Transit Administration Grant $ 3,000,000 4% Housing Credits, Wells Fargo NA $ 15,278,762 84 ISLAND LIVING APARTMENTS 1201 NW 3'' Avenue 70 Wells Fargo Bank (MFRB Miami-Dade HFA) $ 12,400,000 Family 11 units @ 33% 2016 Joint venture with Palmetto Hames Miami, FL Southeast Overtown/ Park West CRA $ 9,000,000 59 units @ 60% AMI of Miami, Inc. Miami-Dade County County SURTAX Loan $ 1,400,000 4% Housing Credits, Wells Fargo Bank NA $ 10,293,618 85 ARBOR AT CENTERBROOK 13905 Oak Meadows 80 Community Bank of Texas Construction Loan $ 7,000,000 Family 8 units @ 30% AMI 2016 Joint venture with Dharma Development, Live Oak, TX 78148 Housing Authority of Bexar County $ 160,000 40 units @ 50% AMI a Historically Underutilized Business Bexar County 9% Housing Credits, Wells Fargo Bank NA $ 11,150,294 32 units @ 60% AMI 86 NORTHWEST GARDENS V (New) & 700 NW 12th Avenue 200 Bank of America (MFRB Broward HFA) $ 14,000,000 Elderly 20 units @ 30% AMI 2017 SUNNYREACH ACRES (Rehabilitation) Fort Lauderdale, FL FHFC SAIL Loan $ 4,960,000 180 units @ 60% AMI Joint venture with the Housing Broward County FHFC SAIL ELI Loan $ 1,500,000 Authority of the City of Ft. Lauderdale HACFL Loan $ 3,500,000 4% Housing Credits, Bank of America $ 11,103,028 87 VISTA POINTE AT WILD PINE 11580 Wild Pine 108 Wells Fargo Construction Loan $ 14,000,000 Family 11 units @ 30% AMI 2017 Joint venture w. A&E Housing Enterprises San Antonio ET J, TX 78253 Bexar County PHA Loan $ 1,620,000 44 units @ 50% AMI a Historically Underutilized Business Bexar County 9% Housing Credits, Wells Fargo Bank NA $ 16,948,305 53 units @ 60% AMI BB SEVENTH AVENUE TRANSIT VILLAGE II NW 7th Ave. & NW 62nd St. 100 Wells Fargo Construction Loan $ 15,100,000 Family 10 units @33% AMI 2017 Joint venture-BAME CDC, a nan-profit Miami, FL 9% Housing Credits, Wells Fargo Bank NA $ 28,168,180 90 units @ 60% AMI } r-i-1LANTI C ~~PACIFIC APC KEY STAFF EXPERIENCE ---COMMUNITIES--- Development Name Project Address # of Units Type & Source of Finance & Subsidy Capital Raised Market Set-Asides AM/% Year Built Miami-Dade County 89 ST. ANDREW TOWER II NW 991h Ave. & NW 26th St. 219 Wells Fargo Construction Loan $ 16,000,000 Elderly 44 units @ 33% AMI 2017 Preservation Coral Springs, FL Catholic Health Services Seller Note $ 300,000 175 units @60% AMI Joint venture-Catholic Health Services Broward County 9% Housing Credits, Wells Fargo Bank NA $ 19,088,091 90 THE STUDIO AT THINKEAST 1143 Shady Lane 182 Citi Community (MFRS Austin Housing Authority) $ 21,800,000 Family 180 units @ 60% AMI 2018 Joint venture-Austin Housing Authority Austin, TX 78721 4% Housing Credits , Wells Fargo Bank NA $ 11,204,889 Travis County 91 LAUREL GLEN 11043 W Loop 1604 N 81 Community Bank of Texas Construction Loan $ 12,000,000 Family 8 units @ 30% AMI 2018 Joint venture with Adalia Development, San Antonio, TX 78254 9% Housing Credits, Wells Fargo Bank NA $ 15,305,234 29 units @ 50% AMI a Historically Underutilized Business Bexar County 34 units @ 60%AMI 10 units @ MKT 92 THE TERRACES AT ARBORETUM 15928 Old Richmond Road 112 Community Bank of Texas Construction Loan s 14,500,000 Family 10 units @ 30% AMI 2019 Joint venture with Adalia Development, Houston, TX 77 498 9% Housing Credits, Wells Fargo Bank NA s 15,223,478 40 units @ 50% AMI a Historically Underutilized Business Fort Bend County 48 units @ 60% AMI Under Construction 14 units@ MKT 93 THE BRISTOL 7810 Old Texel Road 96 Wells Fargo Construction Loan $ 13,100,000 Family 9 units @ 30% AMI 2019 Joint venture with Adalia Development, San Antonio, TX 78250 9% Housing Credits, Wells Fargo Bank NA $ 15,148,485 35 unils @ 50% AMI a Historically Underutilized Business Bexar County 43 units @ 60% AMI Under Construction 9 units@MKT 94 PATHWAYS AT GOODRICH PLACE 2126 Goodrich Avenue 120 Commun ity Bank of Texas Construction Loan $ 19,000,000 Fam ily 11 un its @ 30% AMI 2019 Joint venture-Austin Housing Authority Austin, TX 78704 9% Housing Credits, Wells Fargo Bank NA $ 14,359,628 44 units @ 50% AMI Under Construction Travis County 55 units @ 60% AMI 10 units @ MKT 95 NORTHSIDE TRANSIT VILLAGE IV 3160 NW 79th Street 120 Neighborhood Lending Partners Construction Loan $ 3,475,000 Elderly 12 units @ 30% AMI 2019 On the Norlhside Metrorail Station Unincorp . Miami, FL 33147 Wells Fargo Bridge Loan $ 22,000,000 108 units @ 60% AMI Under Construction Miami-Dade County County SURTAX Loan $ 2,500,000 9% Housing Credits, Wells Fargo Bank NA $ 25,991,551 96 MARIAN TOWERS 17505 N Bay Road 220 Wells Fargo Construction Loan $ 22,000,000 Elderly 44 units @ 30% AMI 2019 Preservation Sunny Isles Beach, FL 33106 9% Housing Credits, Wells Fargo Bank NA $ 16,764,323 176 units @ 60% AMI Joint venture-Catholic Health Services Miami-Dade County Rehabilitation Underway 97 ST. ELIZABETH GARDENS 801 NE 33rd Street 153 Neighborhood Lending Partners Construction Loan $ 3,775,000 Elderly 31 units@ 30% AMI 2019 Joint venture•Catholic Health Services Pompano Beach, FL 33064 Wells Fargo Bridge Loan $ 11,200,000 120 units @ 60% AMI Rehabilitation Underway Broward County Catholic Heallh Services Seller Note $ 6,030,000 3 units@MKT 9% Housing Credits, Wells Fargo Bank NA $ 11,463,639 98 SARATOGA CROSSINGS 1105 West Dania Beach Blvd. 128 Neighborhood Lending Partners Construction Loan $ 5,350,000 Family 13 units @30% AMI 2019 Joint venture-Dania Beach HA Dania Beach, FL Wells Fargo Bridge Loan $ 19,000,000 115 units @ 60% AMI Under Construction Broward County City of Dania Beach Loan $ 437,000 Broward County HOME Loan $ 200,000 9% Housing Credits, Wells Fargo Bank NA $ 25,351,365 99 SARATOGA CROSSINGS II 705 West Dania Beach Blvd. 44 Neighborhood Lending Partners Construction Loan $ 1,750,000 Elderly 5 units @ 30% AMI 2019 Joint venture-Dania Beach HA Dania Beach, FL Wells Fargo Bridge Loan $ 7,750,000 35 units @ 60% AMI Under Construction Broward County Broward County HOME Loan $ 100,000 4units@MKT 9% Housing Credits. Wells Fargo Bank NA $ 9,162.084 TOTAL UNITS BUILT OR UNDER CONSTRUCTION 11,186 TOTAL CAPITAL FUNOS $ 2,204,371,688 P rr1LANTI C ~.._PACIFIC APC KEY STAFF EXPERIENCE ---COMMUN IT IE 5--- Development Name Project Address #of Units Type & Source of Finance & Subsidy Capital Raised Market Set-Asides AM/% Year Built IN CREDIT UNDERWRITING I PRE-DEVELOPMENT 100 THE WOODLANDS AT REID TEMPLE 11609 Facchina Place 252 PNC (MFRB Maryland DHCD) $ 34,100,000 Elderly 252 Units @ 60% AMI 2020 Joint Venture with Reid Temple AME Glenn Dale, MD 20769 Rental Housing Works $ 2,500,000 Church & UrbanMatters Prince George's County 4% Housing Credits, Wells Fargo Bank NA $ 16,857,823 Construction Finance Closing 2019 Lessor Note $ 1,000,000 101 PROVIDENCE PLACE 5001 Fitch Place NE 93 Construction Loan (MFRB Washington DC) $ 19,000,000 Family 35 units @ 30% AMI 2020 Joint venture-Progressive National Washington DC 20019 DMPED Loan $ 9,500,000 58 units @ 60% AMI Baptist Convention & UrbanMatters 4% Housing Credits $ 12,930,328 Construction Finance Closing 2019 102 SUNCREST COURT NW 16 St. & NW 23 Ave. 116 TD Bank Construction Loan (MFRB FHFC) $ 15,250,000 Family 12 units @ 30% AMI 2020 Joint venture with the Housing Fort Laudedale, FL FHFC SAIL Loan $ 6,500,000 104 units@ 60% AMI Authority of the City of Ft. Lauderdale Broward County FHFC SAIL-EU Loan $ 600,000 In credit Underwriting (Scattered Sites) HACFL Loan $ 7,000,000 Broward County HFA Grant $ 100,000 4% Housing Credits, Boston Financial $ 10,158,000 103 NORTHSIDE TRANSIT VILLAGE II NW 32 Ave. & NW 78 St. 180 Construction Loan (MFRB FHFC) $ 20,000,000 Elderly 18 units @28% AMI 2020 On the Northside Metrorai/ Station Unincorp. Miami, FL 33147 FHFC SAIL Loan s 7,000,000 162 units @ 60% AMI Joint Venture with 93rd St. CDC Miami-Dade County FHFC SAIL-ELI Loan s 600,000 In credit Underwriting FHFC NHTF Loan s 1,047,896 Miami Dade County SURTAX Loan s 7,200,000 4% Housing Credits s 16,048,711 104 RESIDENCES AT DR. KING BOULEVARD NW 62 St. & NW 15 Ave. 120 Construction Loan $ 20,150,000 Family 12 units @ 28% AMI 2020 Joint Venture with Martin Luther King EDC Miami, FL Miami-Dade County SURTAX Loan $ 2,053,447 12 units @ 30% AMI In credit Underwriting Miami-Dade County Miami-Dade County HOME Loan $ 938,963 84 units @ 60% AMI City of Miami Forever Bond Program Loan $ 2,000,000 12 units @ MKT 9% Housing Credits $ 24,480,055 105 SAILBOAT BEND APARTMENTS II 437 SW 4th Avenue 110 Construction Loan $ 20,000,000 Elderly 11 units @ 28% AMI 2020 Joint venture with the Housing Fort Lauderdale, FL HACFL Loan $ 4,300,000 90 units @ 60% AMI Authority of the City of Ft. Lauderdale Broward County City of Fort Lauderdale Loan $ 783,250 9 units@MKT In credit Underwriting Broward County Loan $ 124,000 9% Housing Credits $ 25,095,290 106 ST ANDREW TOWER I 2700 NW 99 Avenue 219 Construction Loan $ 11,000,000 Elderly 44 units @ 28% AMI 2020 Joint venture-Catholic Health Services Coral Springs, FL Seller Note $ 7,500,000 175 units @60% AMI In credit Underwriting Broward County 9% Housing Credits $ 16,266,373 107 POINCIANA CROSSING SW 1st Ave & SW 18th Street 113 Construction Loan $ 24,000,000 Family 18 units @30% AMI 2021 Joint venture with the Housing Fort Lauderdale, FL Broward County Loan $ 125,000 60 units @ 60% AMI Authority of the City of Ft. Lauderdale Broward County 9% Housing Credits $ 28,817,118 27 units @ 80% AMI In credit Underwriting 8 units@MKT 108 THE VILLAGE OF CASA FAMILIA On SW 84 St & SW 109 Ave 50 Construction Loan $ 9,450,000 Developmental 8 units @ 28% AMI 2021 Joint venture with Casa Familia, non-profit Unincorporated Miami, FL FHFC Grant $ 4,000,000 Disability 35 umits @ 60% AMI Recommended for 9% LIHTC Miami-Dade County 9% Housing Credits $ 14,998,500 7 units@MKT TOTAL UNITS IN UNDERWRITING 1,253 TOTAL CONSTRUCTION SOURCES $ 403,474,754 TOTAL UNITS 12,439 TOTAL CAPITAL RAISED $2,607,846,442 *Project names in bold were developed by Atlantic Pacific Communities, LLC, the balance represents the experience of key staff. Atlantic Pacific Community Builders, LLC Location (City, New Construction or Development Total Development Name Number of State) Rehabilitation Type Units Atlantic Doral Doral, New Construction Garden 360 Florida Market-rate Atlantic Tradition Ill Port St. Lucie, New Construction Garden 252 Florida Market-rate Island Living Apartments Miami, New Construction High-Rise 70 Florida LIHTC Fort Lauderdale, New Construction/ Garden/ Northwest Gardens V High-Rise 200 Florida Rehabilitation LIHTC Arbor at Centerbrook Live Oak, New Construction Garden 80 Texas LIHTC Audrey M. Edmonson Transit Miami, New Construction High-Rise 100 Village II Florida LIHTC Atlantic Delray Beach Delray Beach, New Construction Garden 346 Florida Market-rate Atlantic Cypress Creek Cypress Creek, New Construction Garden 420 Florida Market-rate Laurel Glen* San Antonio, New Construction Garden 81 Texas LIHTC, Market The Studios at thinkEAST* Austin, New Construction Garden 182 Texas LIHTC Completed 2091 The Terraces At Arboretum* Houston, New Construction Garden 112 Texas LIHTC, Market The Bristol* San Antonio, New Construction Garden 96 Texas LIHTC, Market Pathways At Goodrich Place* Austin New Construction Garden 120 LIHTC Northside Transit Village IV Miami, New Construction Mid-Rise 120 Florida LIHTC Saratoga Crossings I Dania Beach, New Construction Mid-Rise 128 Florida LIHTC Saratoga Crossings II Dania Beach, New Construction Mid-Rise 44 Florida LIHTC Grand Palms @ Tradition Port St. Lucie, New Construction Garden 300 Florida Market-rate Under Conslrucfion 920 TOTAL 3011 ·Gull Coast Community Bul/ders-Texas APC general contractor Construction Contract $ 34,560,000 $ 19,500,000 $ 14,703,771 $ 15,866,590 $ 8,595,456 $ 21,035,552 $ 41,203,876 $ 49,203,471 $ 10,309,786 $ 16,392,931 s 231,371.433 $ 12,524,375 $ l 0,619,030 $ 15,270,789 $ 22,006,140 $ 19,824,288 $ 6,527,577 $ 41,547,277 s 128,319,476 s 359,690, 909 Construction Complete November 2013 March 2015 February 20 l 6 New Construction - January 2017 Rehab Dec . 2016 November 2016 September 2017 April 2018 May 2018 November 2018 April 2019 June 2019 September 2019 November 2019 October 2019 October 2019 October 20 l 9 October 2020 A ANTIC ..,.._PACIFIC Percent Complete as of 3/31/2109 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 70% 45% 21% 46% 51% 42% 28% 235 Tab 7 -. ,itional Exhibits , ~ANTIC ..,.._PACIFIC RICK SCOTT, GOVERNOR EM SECRETARY d ~~r JONATHANZACH ' u ~ '11)" STATE OF FLORIDA Always verify licenses online at MyFloridalicense.com Do not alter this document in any form. This is your license. It is unlawful for anyone other than the licensee to use this document. 236 ATLANTIC PACIFIC COMMUNITY MANAGEMENT, LLC ATLANTIC ~ .. PACI F IC -(oww w ,.,1 ,11- LOW-INCOME HOUSING TAX CREDIT PORTFOLIO UNDER MANAGEMENT &/or COMPLIANCE Development Nme Cit~, State # of Units ~ Financing Amber Garden Miami, FL 110 High-rise 9% Housing Credits, Surtax & HOME Loans Arbor At Centerbrook Live Oak, TX 80 Garden 9% Housing Credits, Bexar County Loan Audrey Edmonson Transit Miami, FL 76 High-rise 4% Housing Credits, Miami-Dade County Tax- Village I exempt Bonds, GOB & SURTAX Loan, City HOME Audrey Edmonson Transit Miami, FL 100 High-rise 9% Hous ing Credits Village II Charlotte Crossing Punta Gorda, FL 82 Garden 9% Housing Credits, FHFC TCAP & HHRP Loans Eastbrooke Apartments Washington DC 39 Mid-rise 4% Housing Credits, DC Tax-exempt Bonds, DHCD Loans Island Living Apartments Miami, FL 70 High-rise 4% Housing Credits, Miami-Dade County Tax- Exempt Bonds, SEOPW CRA Loan Langwick Senior Residences Houston, TX 128 Garden 4% Housing Credits, Tax-exempt Bonds , Houston HOME Loan rel Glen San Antonio, TX 81 Garden 9% Hous ing Credits Marian Towers Sunny Isles Beach, 220 High-rise 9% Housing Credits * (Compliance only) FL Northside Transit V illage I M iami, FL 100 High-rise 4% Housing Credits, Miami-Dade County Tax- exempt Bonds, GOB, SURTAX & NSP3 Loans Northside Transit Village IV Miami, FL 120 High-rise 9% Hous ing Credits * Pathways At Goodrich Austin, TX 120 Garden 9% Housing Credits * Place 9% Housing Credits, Saratoga Crossings Dania Beach, FL 128 Garden Broward County HOME Loan , * City of Dania Beach Loan Sarat oga Crossings II Dania Beach, FL 44 Garden 9% Housing Credits , * Broward County HOME Loan Seagrape I Apartments Marathon, FL 56 Garden 9% Housing Credits, FHFC SAIL Loan Seagrape II Apartments Marathon, FL 28 Garden 9% Housing Credits, FHFC SAIL Loan St. Andrew Tower II Coral Springs , FL 219 High-rise 9% Housing Credits (Compliance only) · Elizabeth Gardens Pompano Beach 153 Mid-rise 9% Housing Credits * Jmpliance only) 237 ATLANTIC PACIFIC COMMUNITY MANAGEMENT, LLC ATLANTIC ~._PACIFIC LOW-INCOME HOUSING TAX CREDIT PORTFOLIO UNDER MANAGEMENT &/or COMPLIANCE Development Nme Clbt'., State # of Units ~ Financing The Bristol San Antonio, TX 96 Garden 9% Housing Credits * The Studio at thinkEAST Austin, TX 182 Garden 4% Housing Credits, HACA Tax-exempt Bonds The Terraces At Arboretum Houston, TX 112 Garden 9% Housing Credits * Vista Pointe at Wild Pine San Antonio, TX 108 Garden 9% Housing Credits, Bexar County Loan Washington Square/Green Miami, FL 89 Garden, 9% Housing Credits, Turnkey High-rise Miami-Dade County SURTAX Loan Total 2,541 *Under Construction/Lease-up 238 ATLANTIC ...t~PACIFIC ·· ·· C O M P A N I E S PROPERTY NAME l Eastbrooke Aparlments 2 St. Andrew Tower II [Compliance) 3 Seagrope I Apartments 4 Seagrape II Apartments 5 Amber Gardens 6 Audrey M. Edmonson Transit Village 7 Audrey M. Edmonson Transit Villag_e II 8 Island Living Apartments 9 Northside Transit Village I 10 Northside Transit Village IV 11 Washington Square 12 Charlotte Cross ing 13 Arbor Crest 14 Villas at Lake Smart 15 The Studio at thinkEAST 16 Arbor At Centerbrook 17 Vista Pointe at Wild Pine 18 Langwick Senior Residences 19 The Terraces at Arboretum 20 Laurel Glen 21 The Bristol 22 The Gallery Center 23 Doral Park Country Club 24 Clinton Manor 25 Aubrey Glen 26 One Island Place I and II 27 Sereno Residences 28 Porta Bella Yacht and Tennis Club Condominiums 29 River Dance 30 Coco Wood Lakes 31 Embassy Tower l 32 Essex Tower 33 Four Seasons 34 Galleria Lofts 35 Galt Mile 36 Horizon House 37 Hemispheres 38 La Mer Estates 39 Parker Dorado 40 Ambassadors East 41 Apogee 42 Aqua rius 43 Hallmark of Hollywood 44 Residences on Hollywood Beach 45 Trump Hollywood Beach 46 Wave 47 Quadomain 48 Sonoma Southside Aparlments ALL PROPERTIES UNDER MANAGEMENT UNITS CITY STATE TYPE 39 Washington DC DC Affordable 219 Coral Springs FL Affordable 56 Marathon FL Affordable 28 Marathon FL Affordable 110 Miami FL Affordable 76 Miami FL Affordable 100 Miami FL Affordable 70 Miami FL Affordable 100 Miami FL Affordable 120 Miami FL Affordable 89 Miami FL Affordable 82 Punta Gorda FL Affordable 120 Quincy FL Affordable 220 Winter Haven FL Affordable 182 Austin TX Affordable 80 Live Oak TX Affordable 108 San Antonio TX Affordable 128 Houston TX Mixed-Income 112 Houston TX Mixed-Income 81 San Antonio TX Mixed-Income 96 San Antonio TX Mixed-Income Boca Raton FL Commercial Doral FL Commercial 40 La Jolla CA Condo 87 Santee CA Condo 646 Aventura FL Condo 38 Boy Harbor Islands FL Condo 319 Boca Raton FL Condo 115 Bradenton FL Condo 393 Delray Beach FL Condo 102 Fort Lauderdale FL Condo 170 Ft. Lauderdale FL Condo 81 Ft . Lauderdale FL Condo 48 Ft. Lauderdale FL Condo 329 Ft. Lauderdale FL Condo 97 Ft. Lauderdale FL Condo 1298 Hallandale Beach FL Condo 443 Hallandale Beach FL Condo 327 Hallandale Beach FL Condo 320 Highland Beach FL Condo 49 Hollywood FL Condo 269 Hollywood FL Condo 378 Hollywood FL Condo 534 Hollywood FL Condo 200 Hollywood FL Condo 575 Hollywood FL Condo 204 Hollywood FL Condo 264 Jacksonville FL Condo ATLANTIC ~~PACIFIC COMPANIES PROPERTY NAME 49 121 Marina at Ocean Reef 50 Oriana 51 10 l O Brickell 52 1100 Millecento Residences 53 300 Collins 54 Aria on the Bay 55 Baltus House 56 Cassa Brickell 57 Co~nnade~Dade~nd 58 Gables Court 59 Hy de Midtown 60 Icon Brickell No. 3 61 lc onbay 62 Met ropo li s at Dadeland 63 My Brickell 64 Neo Lofts Condominium 65 Nine at Mary Brickell 66 One Paraiso 67 Onyx on the Soy 68 Paraiso Boy 69 Plaza 901 on Brickell 70 SLS Brickell 71 SLS Lux 72 Wind 73 Gran Paraiso 74 Pariso Master 75 Canyon Ranch 76 Eden House 77 Island Pointe at Boy Harbor 78 Mirador 1200 79 One Ocean 80 Palau Sunset Harbour 81 Sunset Harbour North 82 Terra Beachside Condominium 83 Waverly at South Beach 84 Louver House 85 Morea 86 Oasis at Naples 87 360 Condominiums B 88 Treasures on the Boy 89 Jade Winds 90 San Matera the Gardens 91 Townhouses at Jacaranda 92 Terraces At Reunion 93 Decop laQe 94 Seaside Villas of Anastasia Island 95 Crossings at C ypress Trace 96 400 Sunny Isles ALL PROPERTIES UNDER MANAGEMENT UNITS CITY STATE TYPE 2 7 Key La rgo FL Condo 34 Lauderdale by the Sea FL Condo 387 Miami FL Condo 385 Miami FL Condo 19 Miami FL Condo 651 Miami FL Condo 16 7 Miami FL Condo 80 Miami FL Condo 298 Miami FL Condo 39 Miami FL Condo 476 Miami FL Condo 526 Miami FL Condo 302 Miami FL Condo 409 Miami FL Condo 193 Miami FL Condo 201 Miami FL Condo 390 Miami FL Condo 282 Miami FL Condo 117 Miami FL Condo 365 Miami FL Condo 440 Miami FL Condo 453 Miami FL Condo 450 Miami FL Condo 495 Miami FL Condo 313 Miami FL Condo 678 Miami FL Condo 581 Miami Beach FL Condo 98 Miami Beach FL Condo 168 Miami Beach FL Condo 423 Miami Beach FL Condo 53 Miami Beach FL Condo 59 Miami Beach FL Condo 240 Miami Beach FL Condo 118 Miami Beach FL Condo 408 Miami Beach FL Condo 12 Miami Beach FL Condo 30 Miami Beach FL Condo 188 Naples FL Condo 100 North Boy Village FL Condo 338 North Boy Villa ge FL Condo 916 North Miami Beach FL Condo 676 Palm Beach Gardens FL Condo 340 Plantation FL Condo 125 Reunion FL Condo 668 South Beach FL Condo 164 St. A u gustine FL Condo 143 St . Johns FL Condo 230 Sunny Isles FL Condo ATLANTIC ~6..PACIFIC COMPANIES PROPERTY NAME 97 Surf House Ocean Views 98 Manatee Condominiums 99 Castillo at Westshore 100 Montecito Palm Beach 101 St. Andrews Palm Beach 102 Whitney 103 Oak Hill 104 Willows 105 Pacific Landing 106 Hills 107 River Run Village 108 Summerwind 109 Boca Colon y 110 Palms of Boca Del Mar 111 Barrington Club 112 Atlantic I Doral 113 Club at Charter Pointe Apart ment Homes 114 Ocean Walk 115 Atlantic Cyp ress Creek 116 Paraiso Boyviews 117 Treasures on the Bay 118 Atlantic I Tradition 119 Casablanca 120 St. Andrews at Weston 121 Atlantic Newtown 122 A ti antic Loring Heights 123 A ti antic I Briarcliff 124 Brookwood Valle y A p artments 125 Morningside Courts 126 Sloan Square 127 Atlantic Ashford 128 Atlantic Brookhaven 129 Atlantic I Brid g e Mill 130 Harris Bridge Overlook 131 Atlantic North Decatur 132 Atlantic I Howell Station 133 Atlantic Aero t ro p olis 134 Shiloh Vall ey Overlook 135 Atlantic Sweetwater 136 Carring ton Green 137 Villas at South Point 138 Atlantic Peachtree Corners 139 Atlantic l Medlock Br id g e 140 Atlantic Vinings 141 Harrison Grande 142 Franciscan at Ar li ngf on 143 Atlantic I Grand Oaks 144 Lo g ons Mill ALL PROPERTIES UNDER MANAGEMENT UNITS CITY STATE TYPE 36 Surfside FL Condo 123 Surfside FL Condo 80 Tampa FL Condo 186 West Palm Beach Fl Condo 770 West Palm Bea c h FL Condo 210 West Palm Beach FL Condo 116 Escondido CA Market 137 Escondido CA Market 325 Murrieta CA Market 224 San Diego CA Market 192 San Diego CA Market 184 Vista CA Market 180 Boca Raton FL Market 320 Bo c a Raton FL Market 145 Coral Sp rings FL Market 360 Doral FL Market 258 Jacksonville FL Market 297 Key West FL Market 420 Lauderdale Lakes FL Market 390 Miami FL Market 338 North Boy Vill ag e FL Market 252 Port St. Lucie FL Market 241 Tampa FL Market 208 Weston FL Market 220 Alpharetta GA Market 277 Atlanta GA Market 214 Atlanta GA Market 240 Atlanta GA Market 172 Atlanta GA Market 197 Atlanta GA Market 222 Brookhaven GA Market 178 Brookhaven GA Market 236 Canton GA Market 332 Dallas GA Market 228 Decatur GA Market 228 Duluth GA Market 269 Hapevill e GA Market 300 Kennesaw GA Market 200 Lawrenceville GA Market 264 M cDounou gh GA Market 284 M c Doun ough GA Market 420 Norcross GA Market 320 Norcross GA Market 403 Smyrna GA Market 319 Cary NC Market 418 A rli ngton TX Market 240 Aust in TX Market 256 Austin TX Market ATLANTIC ~ ... PACIFIC ALL PROPERTIES UNDER MANAGEMENT COMPANIES PROPERTY NAME UNITS CITY STATE TYPE 145 Atlantic McKinney Ranch 343 Dallas TX Market 146 Atlantic Stonebriar 294 Dallas TX Market 147 Sutton Place 456 Dallas TX Market 148 Atlantic Station 324 Fort Worth TX Market 149 Villas at West Road 240 Houston TX Market 150 Vintag e Park Ap artm ents 324 Houston TX Market 151 Atlantic Mansfield 256 Mansfield TX Market 152 Barons 508 Mesq uite TX Market 153 Palazzo 300 San Marcos TX Market 154 Village at Hawks Creek 312 Westwo1ih Vi ll age TX Market 155 The Pointe at Preston Ridge 266 Alp haret ta GA Market 156 Cresta Bella 368 San Diego CA Mixed-Income 157 Village A part ments 332 San Diego CA Mixed-Income 158 Villas at Camino Bernardo 344 San Dieg o CA Mixed-Income 159 l 025 Kane Concourse Miami FL Office/Commercial TOTAL PROPERTIES UNDER MANAGEMENT 40,893 Tab 7 -. ,itional Exhibits Ron Desantis , Governor ~ ~ANTIC ..6..PACIFIC h ars,Secretary d ~~r Halsey Bes e u ~ STATE OF FLORIDA Always verify licenses online at MyFloridalicense.com Do not alter this document in any form. This is your license. It is unlawful for anyone other than the licensee to use this document. 43 Tab 7 -• ..itional Exhibits STATE OF FLORIDA , ~ANTIC ~ ... PACIFIC --co .»¥11,.t1111 --__ , I Beshears, Secretary d ~m. r Hasey u~ DEPARTMENT OF BUSINESS.AND PROFESSIONAL REGULATION ' - L 11.:;, ,•1. ,_;_" _.,.._ ... _ j .t• ... BOARD OF ARCHITE GliURE &-:U~ITERIOR DESIGN THE ARCHITECT HEREIN 15.llCENSEDUNDER THE PROVISIONS ·OF CHAPTER 481, FlORIDA 'STATUTES 4245_ SW 15 STREET --_. -- CORAL GABLES FL 33134 l]GENSE NUMBER: AR0016003 ----------~....... --~--EXPIRATION DATE: FEBRUARY 28, 2021 Always verify licenses online at MyFloridalicense.com Do not alter this document in any form. This is your license. It is unlawful for anyone other than the licensee to use this document. 244 Tab7-. ,itional Exhibits DESIGN FOR LIVING ~ANTIC ~ ... PACIFIC -c:•._ .. .,, ....... _ ~ CORWILARCHITECTS •111 ~.r,, .. Sf COV..GA:llillL))•~~ ,IC-..0 ,_A-C00'1~' 1 ~~136,) MULTIFAMILY RESIDENTIAL 245 MOOH!A EOGEWATEII •111t11,-~,,,~f ~ANTIC ~ .. PACIFIC --c•M M "jll,lffll-- ~ CORWIL ARCHITECTS Q a,41(1,M~CO,.A,~IJ.•i,\'tll" C..-.0 """<M'b ur;)_•~nll MULTI FAM ILY RE SIDE NTIAL 246 Tab 7 -Co-Developer RFQ Checklist ATLANTIC ..t .. PACIFIC CO-DEVELOPER RFQ CHECKLIST NOTE: The completed and signed checklist is a mandatory submission requirement. espondenf Name: Atla:rrm:-PartflrCommunities, L""t Address: 161 NW 6th Street, Suite 1020, Miami, FL 33136 MANDATORY SUBMISSION/INCLUSION Y/N REQUIREMENTS COMMENTS 1 Original & 7 Copies Submitted RFQ shall be submitted in sealed packages and 1 Set of Financials (2 years) with Management marked Qualifications for HACMB Co-Developer y Letters and Statement of Financial Condition RFQ # 1-2019 Complete coPv in PDF format on a USB flash drive . y Deadline Met Deadline TI me: 10:00 am -Julv 15, 2019 y Letter of Interest Submitted As outlined in Section 3.E.2.a of the RFQ y Oroanizational Structure & Staffing As outlined in Section 3.E.2.b. l of the RFQ y Profile of Principals & Key Personnel As outlined in Section 3.E.2.b.2 of the RFQ y Termination, Suspension, or Disbarment As outlined in Section 3.E.2.b.3 of the RFQ y Litioation Explanation and Disciplinary History As outlined in -Section 3.E.2.b.4 of the RFQ y Eliaibilitv to Bid & Contract As outlined in Section 3.E.2.b.5 of the RFQ y Previous Housino Development Experience As outlined in Section 3.E.2.b.6 of the RFQ y Financino Experience As outlined in Section 3.E.2.b.7 of the RFQ y Green Buildina Experience As outlined in Section 3.E.2.b.8 of the RFQ y Capacitv As outlined in -Section 3.E.2.b.9 of the RFQ y Financial Statements As outlined in Section 3.E.2.b.10 of the RFQ y Insurance Requirements As outlined in Section 3.E.2.b.11 of the RFQ y References As outlined in Section 3.E.2.b.12 of the RFQ y Certifications As outlined in Section 3.E.2.b.13 of the RFQ y Proposed Development Methods & Strateqy As outlined in -Section 3.E.2.c of the RFQ y Utilization of DBE/MBE & WBE Business Enterprises and Section 3 As outlined in Section 3.E.2.d of the RFQ y Understandina Local Requirements As outlined in Section 3.E.2.e of the RFQ y Project Budaet As outlined in Section 3.E.2.f of the RFQ To receive the maximum points; the Response to thlrRFQ-slrall1)-e-stJblrlltti:fct"ln~c·ecoTdarf~lllrtlfe Y/N SUBMISSION OUTLINE outline in Section 3.E.3.a. of the RFQ. y Evidence of the Respondent's Ability io Perform the Work Maximum points -20 Points Awarded y Metrics of preferred method to derive best equity raise-up Maximum points -15 Points Awarded y Proiect Approach and Ability to Meet Deadlines Maximum points -1 O Points Awarded y Financial Capacity Maximum points -20 Points Awarded y Responses to Exhibit B, page B-3, a -e Maximum points -20 Points Awarded y Demonstrated Knowledge of Governmental Reaulations Maximum points -5 Points Awarded y Experience on projects with no deferred developer fee Maximum points -5 Points Awarded y DBE/MBE/WBE/Section 3 Maximum points -5 Points Awarded Housing Authority of the City of Miami Beach Co-Developer RFQ # 1-2019 247 Tab 7 -Co-Developer RFQ Checklist Page two Co-Developer RFQ Checklist MANDATORY REQUIREMENT ATTACHMENTS Y/N y Exhibit A -Certification of Respondent Regarding DBE/MBE/WBE/Section 3 Requirements y Exhibit B y Exhibit C -Respondent Profile Form y Certification Reoardino Lobbvino y Conflicts Certification y Respondent Application Prio ri ty C ert ific a ti o n Exhibit D -References y y Acknowledgement of Receipt of Amendment/s)/ Addendum/a) of Solicitation y HUD Form-5369-B Instructions to Offerors Non- Construction HUD Form 5369-C Certifications and y Representations of Respondents HUD Form 5370-C General Conditions for Non- y Construction Contracts y Co-Developer RFQ Checklist y Insurance Documentation Principal of Respondent Name: Ho:22:e~~ Signature: ___ .c.....__..."'-.......,=-..:a.} __ +( _________ _ Evaluation Committee Housing Authority of the City of Miami Beach ATLANTIC _.,._PACIFIC -c11ww-.. .. ,,,1,- The Response to the RFQ MUST include ALL of the required documentation as requested in the RFQ. Failure to do so may result in disqualification from the solicitation without further review. For each project described in Section 3.E.2 .b.6 per the RFQ . For each prime and subcontractino firm Two (2) community partner references, two /2) housing authority references, two (2) tax credit investor references, and one (1) housing finance aQencv reference. Applicable if the HACMB issues an Amendment or Addenda prior to the RFQ deadline date. Form may be downloaded at: httos:/ /www.hud.gov/sites/documents/536 9-B.PDF Form may be downloaded at: https://www.hud.gov/sites/documents/DOC_ 1213 2.PDF Form may be downloaded at: https ://www.hud .gov/sites/documents/DOC_ 1258 7.PDF Signed and dated by Principal of Respondent As outlined in Section 3.E.2.b .11 of the RFQ Title: Chief Executive Officer Date: ~ -.1 S -::i.o I 'i Comments Co-Developer RFQ # 1-2019 248 (;+,%,7%'HVFULSWLRQRI:RUNWREH'HWHUPLQHG8QGHU7KLV $JUHHPHQW 44 1.11.1 400 SF STUDIO 101 CLR.36"CLR.36"THREE QUARTER BED 48" X 75" CLR. 4' - 5 1/2"CLR.34"CLR. 48"CLR.0' - 4 1/2"ø 5' - 0"30" x 48" 30" x 48" 30" x 48" 30" x 48" 30" x 48" 30" x 48" B B B3 C1 B3.2 B3.2 B3 C1.1 B3 101.1.1 C1 A3 ELEC.101.3 101.2 101.C 101.B 101.A MAX. CLR.2' - 0"EQ EQ A7.02 1 4 2 3 CLR. 60"34" MIN. NET CLR4" HANDLE SPACEC1 C1.1 EQ EQ B3 B3 B3 12.03 12.03 22.07 10.02 10.03 22.13 09.02 22.03 10.04 26.06 03.05 22.15 10.02 30" x 48" VERIFY W/ MANUF. 2' - 6" CLR.ABS. MAX.2' - 0"ABS. MAX. 2' - 0" EQ EQ EQEQEQEQEQEQ4' - 2"11.03 22.02 22.01 11.02 11.01 3' - 9" UNIT CLOSETS TO HAVE ADJUSTABLE SHELVING PER FHFC REQUIREMENTS 10.06 06.04 10.02 4' - 4"7' - 10"13' - 8"5' - 5"2' - 5"5' - 3"3' - 3"1' - 2" 2' - 7" EQ EQ 3' - 5"2' - 0" 32.08 44 1.11.1 B B STUDIO 101 LAUNDRY 103 UG UG UG UE UIUD 7' - 6" 7' - 6" UH 11.04 7' - 6" 8' - 0" 8' - 0" 5' - 3 1/2"2' - 7"2' - 7" ALGIN SOFFIT TO EDGE OF WALS 3' - 8 1/2"5' - 0 1/2"5' - 4 1/2" F1 S8' - 2 1/2"E 23.07 UF 7' - 6"6' - 4" NOTE: 1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA RECESSED HOSE BIB WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX STUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG UH CEILING FAN, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. S E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.68 ENLARGED UNIT PLANS BREEZE 09/27/2023 ELDERLY AFFORDABLE MULTI FAMILY HOUSING 300 S. SHORE DRIVE MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 1GROUND FLOOR UNIT PLAN (UNIT 101 SHOWN) SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 2GROUND FLOOR UNIT PLAN KEYNOTE LEGEND 03.05 CONC. COLUMN, SEE STRUCTURAL DWGS 06.04 SOLID SURFACE COUNTERTOP TYP. 09.02 5/8" GYP.BD., TYP, PROVIDE AS 'EXTERIOR' OR 'W ET RATED' AS REQ'D 10.02 GRAB BARS 10.03 TOILET PAPER HOLDER PER ACCESSORY SCHED. 10.04 MEDICINE CABINET, W/ FRAMELESS MIRROR DOOR 10.06 TOWEL BAR 11.01 REFRIGERATOR, GFCI 11.02 DISHWASHER. GFCI 11.03 RANGE/OVEN, GFCI 11.04 KITCHEN RANGE EXHAUST HOOD, CONTROLS TO BE MOUNTED WITHIN ACCESSBILE REACH RANGE 12.03 FURNITURE, NIC 22.01 UNDER-MOUNT SINK 22.02 SINK FAUCET 22.03 BATHROOM SINK FAUCET 22.07 ULTRA LOW-FLOW TOILET 22.13 SHOWER HEAD & CONTROLS 22.15 PREFAB SHOWER ENCLOSURE UNIT 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL 32.08 PLANTING, SEE LANDSCAPE DWGS; PROVIDE PLANTER DRAIN WHERE NOTED AS 'PD'GENERAL NOTES NO. AREA ROOM NAME UNIT TYPE 305 402 STUDIO TYPE F 306 403 STUDIO TYPE D 307 403 STUDIO TYPE F 308 403 STUDIO TYPE D 309 427 STUDIO TYPE F 310 434 STUDIO TYPE B 311 432 STUDIO TYPE G 314 406 STUDIO TYPE F 315 402 STUDIO TYPE D 316 416 STUDIO TYPE F 317 427 STUDIO TYPE D 318 403 STUDIO TYPE F 319 403 STUDIO TYPE F 320 403 STUDIO TYPE F 321 402 STUDIO TYPE F 322 403 STUDIO TYPE F 323 403 STUDIO TYPE F 324 415 STUDIO TYPE F 325 414 STUDIO TYPE F 4TH FLOOR (30'-0") 402 449 STUDIO TYPE H 403 403 STUDIO TYPE F 404 403 STUDIO TYPE D 405 402 STUDIO TYPE F 406 403 STUDIO TYPE D 407 403 STUDIO TYPE F 408 403 STUDIO TYPE D 409 426 STUDIO TYPE F 414 406 STUDIO TYPE F 415 402 STUDIO TYPE D 416 417 STUDIO TYPE F 417 427 STUDIO TYPE D 418 403 STUDIO TYPE F 419 403 STUDIO TYPE F 420 403 STUDIO TYPE F 421 402 STUDIO TYPE F 422 403 STUDIO TYPE F 423 403 STUDIO TYPE F 424 415 STUDIO TYPE F 425 414 STUDIO TYPE F NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 101 400 STUDIO GROUND FLR. 2ND FLOOR (10'-0") 201 486 STUDIO TYPE C 202 450 STUDIO TYPE H 203 403 STUDIO TYPE F 204 403 STUDIO TYPE D 205 402 STUDIO TYPE F 206 403 STUDIO TYPE D 207 403 STUDIO TYPE F 208 403 STUDIO TYPE D 209 429 STUDIO TYPE F 210 434 STUDIO TYPE B 211 434 STUDIO TYPE G 212 416 STUDIO TYPE A 213 406 STUDIO TYPE A 214 406 STUDIO TYPE F 215 402 STUDIO TYPE D 216 417 STUDIO TYPE F 217 427 STUDIO TYPE D 218 403 STUDIO TYPE F 219 403 STUDIO TYPE F 220 403 STUDIO TYPE F 221 403 STUDIO TYPE F 222 403 STUDIO TYPE F 223 403 STUDIO TYPE F 224 415 STUDIO TYPE F 225 414 STUDIO TYPE F 226 413 STUDIO TYPE E 3RD FLOOR (20'-0") 301 486 STUDIO TYPE C 302 450 STUDIO TYPE H 303 403 STUDIO TYPE F 304 403 STUDIO TYPE D UNIT AREA A B MOBILITY UNITS: 205, 226, 319, 416 AUDIO/VISUAL UNITS: 310, 409 MOBILITY FEATURES SHALL COMPLY WITH FBC 809.2 THROUGH FBC 809.4. 809.2 ACCESSIBLE ROUTES. ACCESSIBLE ROUTES COMPLYING WITH DIVISION 4 SHALL BE PROVIDED WITHIN RESIDENTIAL DWELLING UNITS IN ACCORDANCE WITH SECTION 809.2 EXCEPTION: ACCESSIBLE ROUTES SHALL NOT BE REQUIRED TO OR WITHIN UNFINISHED ATTICS OR UNFINISHED BASEMENTS 809.2.1 LOCATION. AT LEAST ONE ACCESSIBLE ROUTE SHALL CONNECT ALL SPACES AND ELEMENTS WHICH ARE A PART OF THE RESIDENTIAL DWELLING UNIT. WHERE ONLY ONE ACCESSIBLE ROUTE IS PROVIDED, IT SHALL NOT PASS THROUGH BATHROOMS, CLOSETS, OR SIMILAR SPACES. 809.2.2 TURNING SPACE. ALL ROOMS SERVED BY AN ACCESSIBLE ROUTE SHALL PROVIDE A TURNING SPACE COMPLYING WITH SECTION 304. EXCEPTION: TURNING SPACE SHALL NOT BE REQUIRED IN EXTERIOR SPACES 30 INCHES (762MM) MAXIMUM IN DEPTH OR WIDTH. 809.3 KITCHEN. WHERE A KITCHEN IS PROVIDED, IT SHALL COMPLY WITH SECTION 804. 809.4 TOILET FACILITIES AND BATHING FACILITIES. AT LEAST ONE BATHROOM SHALL COMPLY WITH SECTION 603. NO FEWER THAN ONE OF EACH TYPE OF FIXTURE PROVIDED WITHIN THE BATHROOM SHALL COMPLY WITH APPLICABLE REQUIREMENTS OF SECTIONS 603 THROUGH 610. TOILET AND BATHING FIXTURES SHALL BE LOCATED IN THE BATHROOM OR TOILET AND BATHING AREA, SUCH THAT TRAVEL BETWEEN FIXTURES DOES NOT REQUIRE TRAVEL BETWEEN OTHER PARTS OF THE RESIDENTIAL DWELLING UNIT. COMMUNICATION FEATURES SHALL COMPLY WITH FBC 809.5. 809.5.1 BUILDING FIRE ALARM SYSTEM. WHERE A BUILDING FIRE ALARM SYSTEM IS PROVIDED, THE SYSTEM WIRING SHALL BE EXTENDED TO A POINT WITHIN THE RESIDENTIAL DWELLING UNIT SMOKE DETECTION SYSTEM. 809.5.1.1 ALARM APPLIANCES. WHERE ALARM APPLIANCES ARE PROVIDED WITHIN A RESIDENTIAL DWELLING UNIT AS PART OF THE BUILDING FIRE ALARM SYSTEM, THEY SHALL COMPLY WITH CHAPTER 9, SECTION 907.5.2.3.3. 809.5.1.2 ACTIVATION. ALL VISIBLE ALARM APPLIANCES PROVIDED WITHIN THE RESIDENTIAL DWELLING UNIT FOR BUILDING FIRE ALARM NOTIFICATION SHALL BE ACTIVATED UPON ACTIVATION OF THE BUILDING FIRE ALARM IN THE PORTION OF THE BUILDING CONTAINING THE RESIDENTIAL DWELLING UNIT. 809.5.2 RESIDENTIAL DWELLING UNIT SMOKE DETECTION SYSTEM AND CARBON MONOXIDE DETECTION SYSTEM. RESIDENTIAL DWELLING UNIT SMOKE DETECTION SYSTEM SHALL COMPLY WITH CHAPTER 9, SECTION 907.2.11. RESIDENTIAL DWELLING UNIT CARBON MONOXIDE DETECTION SYSTEM SHALL COMPLY WITH CHAPTER 4. 809.5.2.1 ACTIVATION. ALL VISIBLE ALARM APPLIANCES PROVIDED WITHIN THE RESIDENTIAL DWELLING UNIT FOR SMOKE DETECTION NOTIFICATION SHALL BE ACTIVATED UPON SMOKE DETECTION. ALL VISIBLE ALARM APPLIANCES PROVIDED WITHIN THE RESIDENTIAL DWELLING UNIT FOR CARBON MONOXIDE DETECTION NOTIFICATION SHALL BE ACTIVATED UPON CARBON MONOXIDE DETECTION. 809.5.3 INTERCONNECTION. THE SAME VISIBLE ALARM APPLIANCES SHALL BE PERMITTED TO PROVIDE NOTIFICATION OF RESIDENTIAL DWELLING UNIT SOME DETECTION, BUILDING FIRE ALARM ACTIVATION, AND CARBON MONOXIDE DETECTION. 809.5.4 PROHIBITED USE. VISIBLE ALARM APPLIANCES USED TO INDICATE RESIDENTIAL DWELLING UNIT SMOKE DETECTION, CARBON MONOXIDE DETECTION, OR BUILDING FIRE ALARM ACTIVATION SHALL NOT BE USED FOR ANY OTHER PURPOSE WITHIN THE RESIDENTIAL DWELLING UNIT. 809.5.4 RESIDENTIAL DWELLING UNIT PRIMARY ENTRANCE. COMMUNICATION FEATURES SHALL BE PROVIDED AT THE RESIDENTIAL DWELLING UNIT PRIMARY ENTRANCE. 809.5.5.1 NOTIFICATION. A HARD WIRED ELECTRIC DOORBELL SHALL BE PROVIDED. A BUTTON OR SWITCH SHALL BE PROVIDED OUTSIDE THE RESIDENTIAL DWELLING UNIT PRIMARY ENTRANCE. ACTIVATION OF THE BUTTON OR SWITCH SHALL INITIATE AN AUDIBLE TONE AND VISIBLE SIGNAL WITHIN THE RESIDENTIAL DWELLING UNIT. WHERE VISIBLE DOORBELL SIGNALS AREA LOCATED IN SLEEPING AREAS, THEY SHALL HAVE CONTROLS TO DEACTIVATE THE SIGNAL. 809.5.5.2 IDENTIFICATION. A MEANS FOR VISUALLY IDENTIFYING A VISITOR WITHOUT OPENING THE RESIDENTIAL DWELLING UNIT ENTRY DOOR SHALL BE PROVIDED AND SHALL ALLOW FOR A MINIMUM 180 DEGREE RANGE OF VIEW. PLAN REVIEW CORRECTIONS 2023-08-28 PLAN REVIEW CORRECTIONS 2023-05-19 PLAN REVIEW CORRECTIONS 2023-01-17 PERMIT SET 2022-12-21 50% CD 2022-10-24 DESIGN DEVELOPMENT 2022-08-01 SCHEMATIC DESIGN 2022-03-14 C PLAN REVIEW CORRECTIONS B PLAN REVIEW CORRECTIONS A PLAN REVIEW CORRECTIONS PERMIT SET 50% CD C C M M 8 8 CLR. 34"CLR.48"416 SF STUDIO 212 30" x 48" 30" x 48" 30" x 48" 30" x 48" B3 B5 B4 B3 B3 B3 B3 B2 B3 B2 212.1 205.CELEC.A7.02 8 7 6 5 30" x 60"CLR.60"CLR. 18" THREE QUARTER BED 48" X 75" 30" x 48" 30" x 48"CLR.ø 5' - 0" F.O. CMU F.O.CMUF.O.CMUø 5' - 0" 12.03 12.03 B3 C1.1 212.3 212.2 22.07 22.14 22.13 F1F1 C1.1 C1 C1.1 CLR.36"CLR.36"CLR. 12"34" MIN. NET CLR.4" HANDLE SPACEMAX. CLR.2' - 0"26.06 CLR. 4' - 11" EQ EQ EQ EQ ABS. MAX. 2' - 0"ABS. MAX.2' - 0"22.03 10.01 10.04 10.0210.02 EQEQEQEQEQEQEQ EQ VERIFY W/ MANUF. 2' - 6 1/2" CLR. 11.01 11.03 22.02 22.01 11.02 UNIT CLOSETS TO HAVE ADJUSTABLE SHELVING PER FHFC REQUIREMENTS 10.02 06.04 CLR. 5' - 0"3' - 7"1' - 5"14' - 2"4' - 9"2' - 5"2' - 7" EQ EQ EQ EQ 1' - 7"3' - 7" M M 8 8 STUDIO 212 UI UD UG UG UG UF 11.04 10' - 0"7' - 6" 7' - 6" 7' - 6" 7' - 6" 5' - 4" ALGIN SOFFIT TO EDGE OF WALLS EQ EQ4' - 9 1/2"3' - 5" B2 F1 2' - 10"2' - 7" UH UE5' - 3" S 23.07 E GWB on Mtl. Stud 7' - 6"MIN.2'-0"NOTE: 1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE STUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG UH CEILING FAN, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. S E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.69 ENLARGED UNIT PLANS BREEZE 09/27/2023 ELDERLY AFFORDABLE MULTI FAMILY HOUSING 300 S. SHORE DRIVE MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 01STUDIO TYPE A - PLAN (UNIT 212 SHOWN) SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 2STUDIO TYPE A - PLAN (UNIT 212 SHOWN) GENERAL NOTES KEYNOTE LEGEND 06.04 SOLID SURFACE COUNTERTOP TYP. 10.01 MIRROR, WALL MOUNTED W/ TEMPERED GLASS 10.02 GRAB BARS 10.04 MEDICINE CABINET, W/ FRAMELESS MIRROR DOOR 11.01 REFRIGERATOR, GFCI 11.02 DISHWASHER. GFCI 11.03 RANGE/OVEN, GFCI 11.04 KITCHEN RANGE EXHAUST HOOD, CONTROLS TO BE MOUNTED WITHIN ACCESSBILE REACH RANGE 12.03 FURNITURE, NIC 22.01 UNDER-MOUNT SINK 22.02 SINK FAUCET 22.03 BATHROOM SINK FAUCET 22.07 ULTRA LOW-FLOW TOILET 22.13 SHOWER HEAD & CONTROLS 22.14 PREFAB BATHTUB ENCLOSURE UNIT 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL A B NO. AREA ROOM NAME UNIT TYPE 305 402 STUDIO TYPE F 306 403 STUDIO TYPE D 307 403 STUDIO TYPE F 308 403 STUDIO TYPE D 309 427 STUDIO TYPE F 310 434 STUDIO TYPE B 311 432 STUDIO TYPE G 314 406 STUDIO TYPE F 315 402 STUDIO TYPE D 316 416 STUDIO TYPE F 317 427 STUDIO TYPE D 318 403 STUDIO TYPE F 319 403 STUDIO TYPE F 320 403 STUDIO TYPE F 321 402 STUDIO TYPE F 322 403 STUDIO TYPE F 323 403 STUDIO TYPE F 324 415 STUDIO TYPE F 325 414 STUDIO TYPE F 4TH FLOOR (30'-0") 402 449 STUDIO TYPE H 403 403 STUDIO TYPE F 404 403 STUDIO TYPE D 405 402 STUDIO TYPE F 406 403 STUDIO TYPE D 407 403 STUDIO TYPE F 408 403 STUDIO TYPE D 409 426 STUDIO TYPE F 414 406 STUDIO TYPE F 415 402 STUDIO TYPE D 416 417 STUDIO TYPE F 417 427 STUDIO TYPE D 418 403 STUDIO TYPE F 419 403 STUDIO TYPE F 420 403 STUDIO TYPE F 421 402 STUDIO TYPE F 422 403 STUDIO TYPE F 423 403 STUDIO TYPE F 424 415 STUDIO TYPE F 425 414 STUDIO TYPE F NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 101 400 STUDIO GROUND FLR. 2ND FLOOR (10'-0") 201 486 STUDIO TYPE C 202 450 STUDIO TYPE H 203 403 STUDIO TYPE F 204 403 STUDIO TYPE D 205 402 STUDIO TYPE F 206 403 STUDIO TYPE D 207 403 STUDIO TYPE F 208 403 STUDIO TYPE D 209 429 STUDIO TYPE F 210 434 STUDIO TYPE B 211 434 STUDIO TYPE G 212 416 STUDIO TYPE A 213 406 STUDIO TYPE A 214 406 STUDIO TYPE F 215 402 STUDIO TYPE D 216 417 STUDIO TYPE F 217 427 STUDIO TYPE D 218 403 STUDIO TYPE F 219 403 STUDIO TYPE F 220 403 STUDIO TYPE F 221 403 STUDIO TYPE F 222 403 STUDIO TYPE F 223 403 STUDIO TYPE F 224 415 STUDIO TYPE F 225 414 STUDIO TYPE F 226 413 STUDIO TYPE E 3RD FLOOR (20'-0") 301 486 STUDIO TYPE C 302 450 STUDIO TYPE H 303 403 STUDIO TYPE F 304 403 STUDIO TYPE D UNIT AREA MOBILITY UNITS: 205, 226, 319, 416 AUDIO/VISUAL UNITS: 310, 409 PLAN REVIEW CORRECTIONS 2023-08-28 PLAN REVIEW CORRECTIONS 2023-05-19 PLAN REVIEW CORRECTIONS 2023-01-17 PERMIT SET 2022-12-21 50% CD 2022-10-24 DESIGN DEVELOPMENT 2022-08-01 SCHEMATIC DESIGN 2022-03-14 C PLAN REVIEW CORRECTIONS B PLAN REVIEW CORRECTIONS A PLAN REVIEW CORRECTIONS PERMIT SET 50% CD C C M M 6.5 6.5 55 CLR.34"CLR. 58 1/2" 434 SF STUDIO 210 30" x 48" 30" x 48" 30" x 48" 30" x 48" B3 B3.2 B3.2 B3 B3 B2 B3 B4 B3 ELEC.210.1 210.B 210.A A7.02 12 11 9 10 B3 CLR. 60" THREE QUARTER BED 48" X 75" 30" x 48"F.O.CMUF.O.CMUF.O. CMU F.O. CMU B3 10.04 22.03 26.06 10.01 MAX. CLR.2' - 0"210.3 C1.1 C1 12.03 22.07 10.02 10.03 10.06 22.14 22.13 F1F1 12.03 30" x 48" 30" x 48"CLR.36"CLR.36"34" MIN. NET CLR.4" HANDLE SPACEEQ EQ ø 5' - 0" EQ EQ ABS. MAX.2' - 0"ABS. MAX. 2' - 0" 10.02 EQ EQ EQEQEQEQEQEQ11.01 11.03 22.02 UNIT CLOSETS TO HAVE ADJUSTABLE SHELVING PER FHFC REQUIREMENTS 10.02 06.04 CLR. 5' - 0"14' - 2"2' - 5"14' - 11 1/2"2' - 6"2' - 0 1/2"2' - 7" A7.04 5 7 EQ EQ EQ EQ 1' - 7"3' - 7" 1' - 0"2' - 6" 4' - 11"5' - 1 1/2"M M 6.5 6.5 55 STUDIO 210 OPEN TO BELOW UG UG UG UH UF E UI UD UE 11.04 10' - 2 1/2"EQ EQ 7' - 6" 7' - 6" 9' - 6" 7' - 6" 9' - 6" 7' - 6" 3' - 4 1/2"4' - 4"B2 B3 F1 5' - 4 1/2" 2' - 7"1' - 8 1/2"5' - 2" ALIGN SOFFIT TO EDGE OF WALLS S 23.07 NOTE: 1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA RECESSED HOSE BIB WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX STUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG UH CEILING FAN, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. S E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.70 ENLARGED UNIT PLANS BREEZE 09/27/2023 ELDERLY AFFORDABLE MULTI FAMILY HOUSING 300 S. SHORE DRIVE MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 1STUDIO TYPE B - PLAN (UNIT 210 SHOWN) SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 2STUDIO TYPE B - PLAN (UNIT 210 SHOWN) GENERAL NOTES KEYNOTE LEGEND 06.04 SOLID SURFACE COUNTERTOP TYP. 10.01 MIRROR, WALL MOUNTED W/ TEMPERED GLASS 10.02 GRAB BARS 10.03 TOILET PAPER HOLDER PER ACCESSORY SCHED. 10.04 MEDICINE CABINET, W/ FRAMELESS MIRROR DOOR 10.06 TOWEL BAR 11.01 REFRIGERATOR, GFCI 11.03 RANGE/OVEN, GFCI 11.04 KITCHEN RANGE EXHAUST HOOD, CONTROLS TO BE MOUNTED WITHIN ACCESSBILE REACH RANGE 12.03 FURNITURE, NIC 22.02 SINK FAUCET 22.03 BATHROOM SINK FAUCET 22.07 ULTRA LOW-FLOW TOILET 22.13 SHOWER HEAD & CONTROLS 22.14 PREFAB BATHTUB ENCLOSURE UNIT 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL A B NO. AREA ROOM NAME UNIT TYPE 305 402 STUDIO TYPE F 306 403 STUDIO TYPE D 307 403 STUDIO TYPE F 308 403 STUDIO TYPE D 309 427 STUDIO TYPE F 310 434 STUDIO TYPE B 311 432 STUDIO TYPE G 314 406 STUDIO TYPE F 315 402 STUDIO TYPE D 316 416 STUDIO TYPE F 317 427 STUDIO TYPE D 318 403 STUDIO TYPE F 319 403 STUDIO TYPE F 320 403 STUDIO TYPE F 321 402 STUDIO TYPE F 322 403 STUDIO TYPE F 323 403 STUDIO TYPE F 324 415 STUDIO TYPE F 325 414 STUDIO TYPE F 4TH FLOOR (30'-0") 402 449 STUDIO TYPE H 403 403 STUDIO TYPE F 404 403 STUDIO TYPE D 405 402 STUDIO TYPE F 406 403 STUDIO TYPE D 407 403 STUDIO TYPE F 408 403 STUDIO TYPE D 409 426 STUDIO TYPE F 414 406 STUDIO TYPE F 415 402 STUDIO TYPE D 416 417 STUDIO TYPE F 417 427 STUDIO TYPE D 418 403 STUDIO TYPE F 419 403 STUDIO TYPE F 420 403 STUDIO TYPE F 421 402 STUDIO TYPE F 422 403 STUDIO TYPE F 423 403 STUDIO TYPE F 424 415 STUDIO TYPE F 425 414 STUDIO TYPE F NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 101 400 STUDIO GROUND FLR. 2ND FLOOR (10'-0") 201 486 STUDIO TYPE C 202 450 STUDIO TYPE H 203 403 STUDIO TYPE F 204 403 STUDIO TYPE D 205 402 STUDIO TYPE F 206 403 STUDIO TYPE D 207 403 STUDIO TYPE F 208 403 STUDIO TYPE D 209 429 STUDIO TYPE F 210 434 STUDIO TYPE B 211 434 STUDIO TYPE G 212 416 STUDIO TYPE A 213 406 STUDIO TYPE A 214 406 STUDIO TYPE F 215 402 STUDIO TYPE D 216 417 STUDIO TYPE F 217 427 STUDIO TYPE D 218 403 STUDIO TYPE F 219 403 STUDIO TYPE F 220 403 STUDIO TYPE F 221 403 STUDIO TYPE F 222 403 STUDIO TYPE F 223 403 STUDIO TYPE F 224 415 STUDIO TYPE F 225 414 STUDIO TYPE F 226 413 STUDIO TYPE E 3RD FLOOR (20'-0") 301 486 STUDIO TYPE C 302 450 STUDIO TYPE H 303 403 STUDIO TYPE F 304 403 STUDIO TYPE D UNIT AREA MOBILITY UNITS: 205, 226, 319, 416 AUDIO/VISUAL UNITS: 310, 409 PLAN REVIEW CORRECTIONS 2023-08-28 PLAN REVIEW CORRECTIONS 2023-05-19 PLAN REVIEW CORRECTIONS 2023-01-17 PERMIT SET 2022-12-21 50% CD 2022-10-24 DESIGN DEVELOPMENT 2022-08-01 SCHEMATIC DESIGN 2022-03-14 C PLAN REVIEW CORRECTIONS B PLAN REVIEW CORRECTIONS A PLAN REVIEW CORRECTIONS PERMIT SET 50% CD C C 1 1 Q Q N N A7.0101 B2.1 B3 B3 B3 B3.2 B3 B3.2 A7.01 7 ELEC. 201.A 201.B 201.1 A7.03 1 2 3 4 CLR.60"CLR. 34" B3 THREE QUARTER BED 48" X 75" 30" x 48" 30" x 48" 30" x 48" 30" x 48" 30" x 48" 30" x 48" 30" x 48" 486 SF STUDIO 201 CLR.48"ø 5 ' - 0 " EQ EQ EQ EQ EQ EQEQEQEQEQEQEQ2' - 10" MIN. NET CLR. 4" HANDLE SPACE CLR. 36" CLR. 36" C1 C1.1 MAX. CLR. 2' - 0" F1F1F1B2 22.15 10.04 26.06 10.01 22.03 201.3 22.07 10.02 10.0210.03 12.03 12.03 11.01 ABS. MAX 2' - 0"ABS. MAX2' - 0"11.0322.0111.02 06.04 C1.1 UNIT CLOSETS TO HAVE ADJUSTABLE SHELVING PER FHFC REQUIREMENTS 10.02 22.13 10.06 22.02CLR.5' - 2"2' - 5"20' - 4 1/2" 14' - 3 1/2"CLR.4' - 9"2' - 7"A4.04 4 A4.04 8EQEQEQEQ05.07 10 LOUVERS @ EQ SPACING3' - 8"1' - 8"1' - 8"3' - 2" 3' - 0 1/2"6" 1 1 Q Q N N STUDIO 201 UI E UF UD UG UG UG UH UE 11.04 10' - 0" 7' - 6" 7' - 6" 7' - 6" 7' - 6" 9' - 7"2' - 7"3' - 0" 14' - 3 1/2" 2' - 5"20' - 4 1/2" 5' - 9 1/2"3' - 7 1/2"5' - 4 1/2"EQEQF1B2 ALIGN SOFFIT TO EDGE OF WALLS 5' - 5 1/2"S 05.07 10 LOUVERS @ EQ SPACING11 LOUVERS @ EQ SPACING05.07 23.07 NOTE: 1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA RECESSED HOSE BIB WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX STUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG UH CEILING FAN, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. S E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.71 ENLARGED UNIT PLANS BREEZE 09/27/2023 ELDERLY AFFORDABLE MULTI FAMILY HOUSING 300 S. SHORE DRIVE MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 1STUDIO TYPE C - PLAN(UNT 201 SHOWN) SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 2STUDIO TYPE C - PLAN (UNIT 201 SHOWN) KEYNOTE LEGEND 05.07 EXTERIOR ALUMINUM LOUVER TYP. 06.04 SOLID SURFACE COUNTERTOP TYP. 10.01 MIRROR, WALL MOUNTED W/ TEMPERED GLASS 10.02 GRAB BARS 10.03 TOILET PAPER HOLDER PER ACCESSORY SCHED. 10.04 MEDICINE CABINET, W/ FRAMELESS MIRROR DOOR 10.06 TOWEL BAR 11.01 REFRIGERATOR, GFCI 11.02 DISHWASHER. GFCI 11.03 RANGE/OVEN, GFCI 11.04 KITCHEN RANGE EXHAUST HOOD, CONTROLS TO BE MOUNTED WITHIN ACCESSBILE REACH RANGE 12.03 FURNITURE, NIC 22.01 UNDER-MOUNT SINK 22.02 SINK FAUCET 22.03 BATHROOM SINK FAUCET 22.07 ULTRA LOW-FLOW TOILET 22.13 SHOWER HEAD & CONTROLS 22.15 PREFAB SHOWER ENCLOSURE UNIT 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL GENERAL NOTES NO. AREA ROOM NAME UNIT TYPE 305 402 STUDIO TYPE F 306 403 STUDIO TYPE D 307 403 STUDIO TYPE F 308 403 STUDIO TYPE D 309 427 STUDIO TYPE F 310 434 STUDIO TYPE B 311 432 STUDIO TYPE G 314 406 STUDIO TYPE F 315 402 STUDIO TYPE D 316 416 STUDIO TYPE F 317 427 STUDIO TYPE D 318 403 STUDIO TYPE F 319 403 STUDIO TYPE F 320 403 STUDIO TYPE F 321 402 STUDIO TYPE F 322 403 STUDIO TYPE F 323 403 STUDIO TYPE F 324 415 STUDIO TYPE F 325 414 STUDIO TYPE F 4TH FLOOR (30'-0") 402 449 STUDIO TYPE H 403 403 STUDIO TYPE F 404 403 STUDIO TYPE D 405 402 STUDIO TYPE F 406 403 STUDIO TYPE D 407 403 STUDIO TYPE F 408 403 STUDIO TYPE D 409 426 STUDIO TYPE F 414 406 STUDIO TYPE F 415 402 STUDIO TYPE D 416 417 STUDIO TYPE F 417 427 STUDIO TYPE D 418 403 STUDIO TYPE F 419 403 STUDIO TYPE F 420 403 STUDIO TYPE F 421 402 STUDIO TYPE F 422 403 STUDIO TYPE F 423 403 STUDIO TYPE F 424 415 STUDIO TYPE F 425 414 STUDIO TYPE F NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 101 400 STUDIO GROUND FLR. 2ND FLOOR (10'-0") 201 486 STUDIO TYPE C 202 450 STUDIO TYPE H 203 403 STUDIO TYPE F 204 403 STUDIO TYPE D 205 402 STUDIO TYPE F 206 403 STUDIO TYPE D 207 403 STUDIO TYPE F 208 403 STUDIO TYPE D 209 429 STUDIO TYPE F 210 434 STUDIO TYPE B 211 434 STUDIO TYPE G 212 416 STUDIO TYPE A 213 406 STUDIO TYPE A 214 406 STUDIO TYPE F 215 402 STUDIO TYPE D 216 417 STUDIO TYPE F 217 427 STUDIO TYPE D 218 403 STUDIO TYPE F 219 403 STUDIO TYPE F 220 403 STUDIO TYPE F 221 403 STUDIO TYPE F 222 403 STUDIO TYPE F 223 403 STUDIO TYPE F 224 415 STUDIO TYPE F 225 414 STUDIO TYPE F 226 413 STUDIO TYPE E 3RD FLOOR (20'-0") 301 486 STUDIO TYPE C 302 450 STUDIO TYPE H 303 403 STUDIO TYPE F 304 403 STUDIO TYPE D UNIT AREA A B MOBILITY UNITS: 205, 226, 319, 416 AUDIO/VISUAL UNITS: 310, 409 PLAN REVIEW CORRECTIONS 2023-08-28 PLAN REVIEW CORRECTIONS 2023-05-19 PLAN REVIEW CORRECTIONS 2023-01-17 PERMIT SET 2022-12-21 50% CD 2022-10-24 DESIGN DEVELOPMENT 2022-08-01 SCHEMATIC DESIGN 2022-03-14 C PLAN REVIEW CORRECTIONS B PLAN REVIEW CORRECTIONS A PLAN REVIEW CORRECTIONS PERMIT SET 50% CD C C Q Q N N F.O.CMUF.O.CMUF.O.CMUF.O.CMUB4 B5B4 B3 B2 B2 B3 B3.2 B3 ELEC. 204.1 204.A A7.03 5 6 7 8 CLR. 48"CLR.34"30" x 48" 30" x 48" 30" x 48" 30" x 48" 30" x 48" 30" x 48" 30" x 48" THREE QUARTER BED 48" X 75" STUDIO 204 10.01 22.03 10.04 MAX. CLR. 2' - 0" 10.02 22.07 10.0210.03 22.15 204.3 CLR. 36" CLR. 36" C1.1 C1 12.03 EQEQEQEQ34" MIN. NET CLR. 4" HANDLE SPACE 22.13 204.2 26.06 12.03 CLR.11"C1 ABS. MAX.2' - 0"ABS. MAX. 2' - 0"VERIFY W/ MANUF.2' - 8 1/2" CLR.EQ EQ EQ EQ EQ EQ EQEQ11.01 UNITS CLOSETS TO HAVE ADJUSTABLE SHELVING PER FHFC REQUIREMENTS 11.03 22.0122.0211.02 10.02 10.06 06.04 ø 5' - 0"5' - 2" CLR.2' - 5"16' - 2" 14' - 2"2' - 7"EQEQEQEQ3' - 7"1' - 7"Q Q N N STUDIO 204 UH UFUI UD UG UGUG 11.04 E 7' - 6" 7' - 6" 7' - 6" 7' - 6" 9' - 6" 9' - 6"2' - 7"2' - 11" 7' - 9"5' - 3"3' - 6"4' - 4" UE5' - 2"EQEQALIGN SOFFIT TO EDGE OF WALLS S 23.07 NOTE: 1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA RECESSED HOSE BIB WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX STUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG UH CEILING FAN, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. S E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.72 ENLARGED UNIT PLANS BREEZE 09/27/2023 ELDERLY AFFORDABLE MULTI FAMILY HOUSING 300 S. SHORE DRIVE MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 1STUDIO TYPE D - PLAN(UNT 204 SHOWN) SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 2STUDIO TYPE D - PLAN (UNIT 204 SHOWN) KEYNOTE LEGEND 06.04 SOLID SURFACE COUNTERTOP TYP. 10.01 MIRROR, WALL MOUNTED W/ TEMPERED GLASS 10.02 GRAB BARS 10.03 TOILET PAPER HOLDER PER ACCESSORY SCHED. 10.04 MEDICINE CABINET, W/ FRAMELESS MIRROR DOOR 10.06 TOWEL BAR 11.01 REFRIGERATOR, GFCI 11.02 DISHWASHER. GFCI 11.03 RANGE/OVEN, GFCI 11.04 KITCHEN RANGE EXHAUST HOOD, CONTROLS TO BE MOUNTED WITHIN ACCESSBILE REACH RANGE 12.03 FURNITURE, NIC 22.01 UNDER-MOUNT SINK 22.02 SINK FAUCET 22.03 BATHROOM SINK FAUCET 22.07 ULTRA LOW-FLOW TOILET 22.13 SHOWER HEAD & CONTROLS 22.15 PREFAB SHOWER ENCLOSURE UNIT 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL GENERAL NOTES A B NO. AREA ROOM NAME UNIT TYPE 305 402 STUDIO TYPE F 306 403 STUDIO TYPE D 307 403 STUDIO TYPE F 308 403 STUDIO TYPE D 309 427 STUDIO TYPE F 310 434 STUDIO TYPE B 311 432 STUDIO TYPE G 314 406 STUDIO TYPE F 315 402 STUDIO TYPE D 316 416 STUDIO TYPE F 317 427 STUDIO TYPE D 318 403 STUDIO TYPE F 319 403 STUDIO TYPE F 320 403 STUDIO TYPE F 321 402 STUDIO TYPE F 322 403 STUDIO TYPE F 323 403 STUDIO TYPE F 324 415 STUDIO TYPE F 325 414 STUDIO TYPE F 4TH FLOOR (30'-0") 402 449 STUDIO TYPE H 403 403 STUDIO TYPE F 404 403 STUDIO TYPE D 405 402 STUDIO TYPE F 406 403 STUDIO TYPE D 407 403 STUDIO TYPE F 408 403 STUDIO TYPE D 409 426 STUDIO TYPE F 414 406 STUDIO TYPE F 415 402 STUDIO TYPE D 416 417 STUDIO TYPE F 417 427 STUDIO TYPE D 418 403 STUDIO TYPE F 419 403 STUDIO TYPE F 420 403 STUDIO TYPE F 421 402 STUDIO TYPE F 422 403 STUDIO TYPE F 423 403 STUDIO TYPE F 424 415 STUDIO TYPE F 425 414 STUDIO TYPE F NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 101 400 STUDIO GROUND FLR. 2ND FLOOR (10'-0") 201 486 STUDIO TYPE C 202 450 STUDIO TYPE H 203 403 STUDIO TYPE F 204 403 STUDIO TYPE D 205 402 STUDIO TYPE F 206 403 STUDIO TYPE D 207 403 STUDIO TYPE F 208 403 STUDIO TYPE D 209 429 STUDIO TYPE F 210 434 STUDIO TYPE B 211 434 STUDIO TYPE G 212 416 STUDIO TYPE A 213 406 STUDIO TYPE A 214 406 STUDIO TYPE F 215 402 STUDIO TYPE D 216 417 STUDIO TYPE F 217 427 STUDIO TYPE D 218 403 STUDIO TYPE F 219 403 STUDIO TYPE F 220 403 STUDIO TYPE F 221 403 STUDIO TYPE F 222 403 STUDIO TYPE F 223 403 STUDIO TYPE F 224 415 STUDIO TYPE F 225 414 STUDIO TYPE F 226 413 STUDIO TYPE E 3RD FLOOR (20'-0") 301 486 STUDIO TYPE C 302 450 STUDIO TYPE H 303 403 STUDIO TYPE F 304 403 STUDIO TYPE D UNIT AREA MOBILITY UNITS: 205, 226, 319, 416 AUDIO/VISUAL UNITS: 310, 409 PLAN REVIEW CORRECTIONS 2023-08-28 PLAN REVIEW CORRECTIONS 2023-05-19 PLAN REVIEW CORRECTIONS 2023-01-17 PERMIT SET 2022-12-21 50% CD 2022-10-24 DESIGN DEVELOPMENT 2022-08-01 SCHEMATIC DESIGN 2022-03-14 C PLAN REVIEW CORRECTIONS B PLAN REVIEW CORRECTIONS A PLAN REVIEW CORRECTIONS PERMIT SET 50% CD C C 1 1 D D A A 2 2 30" x 48" 30" x 48" 30" x 48"30" x 48" ELEC. 413 SF STUDIO 226 THREE QUARTER BED 48" X 75" 30" x 48" 30" x 60" 30" x 48" CLR. 48"CLR.34"ø 5' - 0"226.A 226.1 B3.2 B3.2 B4 B3B3 B2B2F1F1 B3 B3 CLR. 36" CLR. 36" 12.03 226.3 MAX. CLR. 2' - 0"34" MIN. NET CLR. 4" HANDLE SPACE 22.14 22.13 10.0310.02 10.02 22.07 10.01 22.03 10.04 26.06 226.2 12.03 EQEQEQEQC1 C1.1 ABS. MAX. 2' - 0"ABS. MAX.2' - 0"EQEQEQ EQ EQ EQ EQ EQ 11.01 UNIT CLOSETS TO HAVE ADJUSTABLE SHELVES PER FHFC REQUIREMENTS 11.03 06.04 22.01 11.0222.02 10.02 10.06 2' - 2"5' - 0" CLR.18' - 11"2' - 5"CLR.5' - 0"4' - 8"2' - 4"3' - 1" A7.03 9 10 11 12 18"EQEQEQEQ4' - 7"1' - 8 1/2"14' - 2" 1 1 D D A A 2 2 UH UG UG UF UI E UG STUDIO 226 UD 11.04 7' - 6" 7' - 6" 7' - 6" 7' - 6" 10' - 9"6' - 0"2' - 2"EQEQ3' - 7"4' - 4" F1 2' - 11" ALIGN SOFFIT TO EDGE OF WALLS S 23.07 NOTE: 1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA RECESSED HOSE BIB WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX STUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG UH CEILING FAN, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. S E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.73 ENLARGED UNIT PLANS BREEZE 09/27/2023 ELDERLY AFFORDABLE MULTI FAMILY HOUSING 300 S. SHORE DRIVE MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 SCALE: N.T.S.SCALE: 1/2" = 1'-0"REF: 01 / A3.20 1 STUDIO TYPE E - PLAN(UNT 226 SHOWN) SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 2STUDIO TYPE E - PLAN (UNIT 226 SHOWN) GENERAL NOTES KEYNOTE LEGEND 06.04 SOLID SURFACE COUNTERTOP TYP. 10.01 MIRROR, WALL MOUNTED W/ TEMPERED GLASS 10.02 GRAB BARS 10.03 TOILET PAPER HOLDER PER ACCESSORY SCHED. 10.04 MEDICINE CABINET, W/ FRAMELESS MIRROR DOOR 10.06 TOWEL BAR 11.01 REFRIGERATOR, GFCI 11.02 DISHWASHER. GFCI 11.03 RANGE/OVEN, GFCI 11.04 KITCHEN RANGE EXHAUST HOOD, CONTROLS TO BE MOUNTED WITHIN ACCESSBILE REACH RANGE 12.03 FURNITURE, NIC 22.01 UNDER-MOUNT SINK 22.02 SINK FAUCET 22.03 BATHROOM SINK FAUCET 22.07 ULTRA LOW-FLOW TOILET 22.13 SHOWER HEAD & CONTROLS 22.14 PREFAB BATHTUB ENCLOSURE UNIT 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL A B NO. AREA ROOM NAME UNIT TYPE 305 402 STUDIO TYPE F 306 403 STUDIO TYPE D 307 403 STUDIO TYPE F 308 403 STUDIO TYPE D 309 427 STUDIO TYPE F 310 434 STUDIO TYPE B 311 432 STUDIO TYPE G 314 406 STUDIO TYPE F 315 402 STUDIO TYPE D 316 416 STUDIO TYPE F 317 427 STUDIO TYPE D 318 403 STUDIO TYPE F 319 403 STUDIO TYPE F 320 403 STUDIO TYPE F 321 402 STUDIO TYPE F 322 403 STUDIO TYPE F 323 403 STUDIO TYPE F 324 415 STUDIO TYPE F 325 414 STUDIO TYPE F 4TH FLOOR (30'-0") 402 449 STUDIO TYPE H 403 403 STUDIO TYPE F 404 403 STUDIO TYPE D 405 402 STUDIO TYPE F 406 403 STUDIO TYPE D 407 403 STUDIO TYPE F 408 403 STUDIO TYPE D 409 426 STUDIO TYPE F 414 406 STUDIO TYPE F 415 402 STUDIO TYPE D 416 417 STUDIO TYPE F 417 427 STUDIO TYPE D 418 403 STUDIO TYPE F 419 403 STUDIO TYPE F 420 403 STUDIO TYPE F 421 402 STUDIO TYPE F 422 403 STUDIO TYPE F 423 403 STUDIO TYPE F 424 415 STUDIO TYPE F 425 414 STUDIO TYPE F NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 101 400 STUDIO GROUND FLR. 2ND FLOOR (10'-0") 201 486 STUDIO TYPE C 202 450 STUDIO TYPE H 203 403 STUDIO TYPE F 204 403 STUDIO TYPE D 205 402 STUDIO TYPE F 206 403 STUDIO TYPE D 207 403 STUDIO TYPE F 208 403 STUDIO TYPE D 209 429 STUDIO TYPE F 210 434 STUDIO TYPE B 211 434 STUDIO TYPE G 212 416 STUDIO TYPE A 213 406 STUDIO TYPE A 214 406 STUDIO TYPE F 215 402 STUDIO TYPE D 216 417 STUDIO TYPE F 217 427 STUDIO TYPE D 218 403 STUDIO TYPE F 219 403 STUDIO TYPE F 220 403 STUDIO TYPE F 221 403 STUDIO TYPE F 222 403 STUDIO TYPE F 223 403 STUDIO TYPE F 224 415 STUDIO TYPE F 225 414 STUDIO TYPE F 226 413 STUDIO TYPE E 3RD FLOOR (20'-0") 301 486 STUDIO TYPE C 302 450 STUDIO TYPE H 303 403 STUDIO TYPE F 304 403 STUDIO TYPE D UNIT AREA MOBILITY UNITS: 205, 226, 319, 416 AUDIO/VISUAL UNITS: 310, 409 PLAN REVIEW CORRECTIONS 2023-08-28 PLAN REVIEW CORRECTIONS 2023-05-19 PLAN REVIEW CORRECTIONS 2023-01-17 PERMIT SET 2022-12-21 50% CD 2022-10-24 DESIGN DEVELOPMENT 2022-08-01 SCHEMATIC DESIGN 2022-03-14 C PLAN REVIEW CORRECTIONS B PLAN REVIEW CORRECTIONS A PLAN REVIEW CORRECTIONS PERMIT SET 50% CD C C D D A A STUDIO 220 CLR.34"34" MIN. NET CLR. 4" HANDLE SPACE ø 5' - 0 " ELEC. MAX. CLR. 2' - 0" CLR. 48"CLR.12"220.3 CLR. 36" CLR. 36" THREE QUARTER BED 48" X 75" 12.03 12.03 30" x 48" 30" x 48" 30" x 60" 22.14 22.13 10.0310.02 10.02 22.07 10.01 22.03 10.04 26.06 EQEQEQEQB5 B4 B3 B2B2F1F1 B3 B4 C1.1 C1 B3 B3.2 C1.1 C1.1 30" x 48"30" x 48" 30" x 48" 30" x 48" ABS. MAX. 2' - 0"ABS. MAX.2' - 0"11.01 06.04 22.01 11.02VERIFY W/ MANUF.2' - 8" CLR.EQEQEQ EQ EQ EQ EQ EQ CLR.4' - 11 1/2"UNITS CLOSETS TO HAVE ADJUSTABLE SHELVING PER FHFC REQUIREMENTS 11.03 22.02 10.02 10.06 5' - 0" CLR.16' - 2"2' - 5" 14' - 2"2' - 7"A7.04 1 2 3 4 EQEQEQEQ3' - 5 1/2"1' - 7 1/2"D D A A 11.04 UH UG UG UG UF UI E 7' - 6" 7' - 6" 7' - 6" 9' - 6" 7' - 6" STUDIO 220 9' - 6" 220.A EQEQUE UD5' - 0"3' - 5"4' - 4" F1 B2 7' - 8"5' - 3"2' - 7"2' - 11" ALIGN SOFFIT TO EDGE OF WALLS S 23.07 NOTE: 1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA RECESSED HOSE BIB WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX STUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG UH CEILING FAN, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. S E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.74 ENLARGED UNIT PLANS BREEZE 09/27/2023 ELDERLY AFFORDABLE MULTI FAMILY HOUSING 300 S. SHORE DRIVE MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 1STUDIO TYPE F - PLAN(UNT 220 SHOWN) SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 2STUDIO TYPE F - PLAN (UNIT 220 SHOWN) KEYNOTE LEGEND 06.04 SOLID SURFACE COUNTERTOP TYP. 10.01 MIRROR, WALL MOUNTED W/ TEMPERED GLASS 10.02 GRAB BARS 10.03 TOILET PAPER HOLDER PER ACCESSORY SCHED. 10.04 MEDICINE CABINET, W/ FRAMELESS MIRROR DOOR 10.06 TOWEL BAR 11.01 REFRIGERATOR, GFCI 11.02 DISHWASHER. GFCI 11.03 RANGE/OVEN, GFCI 11.04 KITCHEN RANGE EXHAUST HOOD, CONTROLS TO BE MOUNTED WITHIN ACCESSBILE REACH RANGE 12.03 FURNITURE, NIC 22.01 UNDER-MOUNT SINK 22.02 SINK FAUCET 22.03 BATHROOM SINK FAUCET 22.07 ULTRA LOW-FLOW TOILET 22.13 SHOWER HEAD & CONTROLS 22.14 PREFAB BATHTUB ENCLOSURE UNIT 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL GENERAL NOTES A B NO. AREA ROOM NAME UNIT TYPE 305 402 STUDIO TYPE F 306 403 STUDIO TYPE D 307 403 STUDIO TYPE F 308 403 STUDIO TYPE D 309 427 STUDIO TYPE F 310 434 STUDIO TYPE B 311 432 STUDIO TYPE G 314 406 STUDIO TYPE F 315 402 STUDIO TYPE D 316 416 STUDIO TYPE F 317 427 STUDIO TYPE D 318 403 STUDIO TYPE F 319 403 STUDIO TYPE F 320 403 STUDIO TYPE F 321 402 STUDIO TYPE F 322 403 STUDIO TYPE F 323 403 STUDIO TYPE F 324 415 STUDIO TYPE F 325 414 STUDIO TYPE F 4TH FLOOR (30'-0") 402 449 STUDIO TYPE H 403 403 STUDIO TYPE F 404 403 STUDIO TYPE D 405 402 STUDIO TYPE F 406 403 STUDIO TYPE D 407 403 STUDIO TYPE F 408 403 STUDIO TYPE D 409 426 STUDIO TYPE F 414 406 STUDIO TYPE F 415 402 STUDIO TYPE D 416 417 STUDIO TYPE F 417 427 STUDIO TYPE D 418 403 STUDIO TYPE F 419 403 STUDIO TYPE F 420 403 STUDIO TYPE F 421 402 STUDIO TYPE F 422 403 STUDIO TYPE F 423 403 STUDIO TYPE F 424 415 STUDIO TYPE F 425 414 STUDIO TYPE F NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 101 400 STUDIO GROUND FLR. 2ND FLOOR (10'-0") 201 486 STUDIO TYPE C 202 450 STUDIO TYPE H 203 403 STUDIO TYPE F 204 403 STUDIO TYPE D 205 402 STUDIO TYPE F 206 403 STUDIO TYPE D 207 403 STUDIO TYPE F 208 403 STUDIO TYPE D 209 429 STUDIO TYPE F 210 434 STUDIO TYPE B 211 434 STUDIO TYPE G 212 416 STUDIO TYPE A 213 406 STUDIO TYPE A 214 406 STUDIO TYPE F 215 402 STUDIO TYPE D 216 417 STUDIO TYPE F 217 427 STUDIO TYPE D 218 403 STUDIO TYPE F 219 403 STUDIO TYPE F 220 403 STUDIO TYPE F 221 403 STUDIO TYPE F 222 403 STUDIO TYPE F 223 403 STUDIO TYPE F 224 415 STUDIO TYPE F 225 414 STUDIO TYPE F 226 413 STUDIO TYPE E 3RD FLOOR (20'-0") 301 486 STUDIO TYPE C 302 450 STUDIO TYPE H 303 403 STUDIO TYPE F 304 403 STUDIO TYPE D UNIT AREA MOBILITY UNITS: 205, 226, 319, 416 AUDIO/VISUAL UNITS: 310, 409 PLAN REVIEW CORRECTIONS 2023-08-28 PLAN REVIEW CORRECTIONS 2023-05-19 PLAN REVIEW CORRECTIONS 2023-01-17 C PLAN REVIEW CORRECTIONS B PLAN REVIEW CORRECTIONS A PLAN REVIEW CORRECTIONS C C NOTE: 1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE J J 7 7 55 EQEQEQEQEQEQSTUDIO 211 THREE QUARTER BED 48" X 75"CLR.36"CLR.36"30" x 48" 30" x 48" 30" x 48" EQ EQ ø 5 ' - 0 " EQ EQ EQ EQ 30" x 48" 30" x 48" 30" x 48"34" MIN. NET CLR.4" HANDLE SPACECLR.15"10.02 10.03 10.02 10.01 22.03 22.07 10.04 CLR. 5' - 0 1/2"CLR.48"ELEC.MAX. CLR.2' - 0"CLR. 34" 12.03 12.03ABS. MAX.2' - 0"ABS. MAX. 2' - 0" 11.02 22.01 22.02 11.03 22.13 22.15 30" x 48" 211.3 211.2 211.1 211.C 211.B 211.A B2 F1F1F1 B3 B3 B4 B3B3.2 B3.2 B3 B3 B2 C1.1 C1.1 C1 C1.1 11.01 26.06 14" UNIT CLOSETS TO HAVE ADJUSTABLE SHELVING PER FHFC REQUIREMENTS 06.04 10.02 10.06 2' - 7" 5' - 2" CLR.6' - 2"2' - 6"0' - 6"2' - 6"4' - 3"14' - 2"2' - 5"18' - 11"A7.04 6 5 7 8 EQ EQ EQ EQ 3' - 6"1' - 7" 1' - 10"3' - 8" 9' - 8"2' - 6"2' - 1"2' - 6"J J 7 7 55 UG UG UG UH UF E UI UE10' - 3"STUDIO 211 7' - 6" EQ EQ 7' - 6" 9' - 6" UD 7' - 6" 9' - 6" 7' - 6" 11.04 2' - 7"1' - 8"2' - 7" 5' - 1" 3' - 6"4' - 5"ALIGN SOFFIT TO EDGE OF WALLS 5' - 3" S 23.07 LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA RECESSED HOSE BIB WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX STUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG UH CEILING FAN, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. S E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.75 ENLARGED UNIT PLANS BREEZE 09/27/2023 ELDERLY AFFORDABLE MULTI FAMILY HOUSING 300 S. SHORE DRIVE MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 KEYNOTE LEGEND 06.04 SOLID SURFACE COUNTERTOP TYP. 10.01 MIRROR, WALL MOUNTED W/ TEMPERED GLASS 10.02 GRAB BARS 10.03 TOILET PAPER HOLDER PER ACCESSORY SCHED. 10.04 MEDICINE CABINET, W/ FRAMELESS MIRROR DOOR 10.06 TOWEL BAR 11.01 REFRIGERATOR, GFCI 11.02 DISHWASHER. GFCI 11.03 RANGE/OVEN, GFCI 11.04 KITCHEN RANGE EXHAUST HOOD, CONTROLS TO BE MOUNTED WITHIN ACCESSBILE REACH RANGE 12.03 FURNITURE, NIC 22.01 UNDER-MOUNT SINK 22.02 SINK FAUCET 22.03 BATHROOM SINK FAUCET 22.07 ULTRA LOW-FLOW TOILET 22.13 SHOWER HEAD & CONTROLS 22.15 PREFAB SHOWER ENCLOSURE UNIT 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL GENERAL NOTES SCALE: N.T.S.SCALE: 1/2" = 1'-0"REF: 01 / A3.20 1 STUDIO TYPE G - PLAN (UNIT 211 SHOWN) SCALE: N.T.S.SCALE: 1/2" = 1'-0"REF: 1 / A3.21 2 STUDIO TYPE G - RCP (UNIT 211 SHOWN) A B NO. AREA ROOM NAME UNIT TYPE 305 402 STUDIO TYPE F 306 403 STUDIO TYPE D 307 403 STUDIO TYPE F 308 403 STUDIO TYPE D 309 427 STUDIO TYPE F 310 434 STUDIO TYPE B 311 432 STUDIO TYPE G 314 406 STUDIO TYPE F 315 402 STUDIO TYPE D 316 416 STUDIO TYPE F 317 427 STUDIO TYPE D 318 403 STUDIO TYPE F 319 403 STUDIO TYPE F 320 403 STUDIO TYPE F 321 402 STUDIO TYPE F 322 403 STUDIO TYPE F 323 403 STUDIO TYPE F 324 415 STUDIO TYPE F 325 414 STUDIO TYPE F 4TH FLOOR (30'-0") 402 449 STUDIO TYPE H 403 403 STUDIO TYPE F 404 403 STUDIO TYPE D 405 402 STUDIO TYPE F 406 403 STUDIO TYPE D 407 403 STUDIO TYPE F 408 403 STUDIO TYPE D 409 426 STUDIO TYPE F 414 406 STUDIO TYPE F 415 402 STUDIO TYPE D 416 417 STUDIO TYPE F 417 427 STUDIO TYPE D 418 403 STUDIO TYPE F 419 403 STUDIO TYPE F 420 403 STUDIO TYPE F 421 402 STUDIO TYPE F 422 403 STUDIO TYPE F 423 403 STUDIO TYPE F 424 415 STUDIO TYPE F 425 414 STUDIO TYPE F NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 101 400 STUDIO GROUND FLR. 2ND FLOOR (10'-0") 201 486 STUDIO TYPE C 202 450 STUDIO TYPE H 203 403 STUDIO TYPE F 204 403 STUDIO TYPE D 205 402 STUDIO TYPE F 206 403 STUDIO TYPE D 207 403 STUDIO TYPE F 208 403 STUDIO TYPE D 209 429 STUDIO TYPE F 210 434 STUDIO TYPE B 211 434 STUDIO TYPE G 212 416 STUDIO TYPE A 213 406 STUDIO TYPE A 214 406 STUDIO TYPE F 215 402 STUDIO TYPE D 216 417 STUDIO TYPE F 217 427 STUDIO TYPE D 218 403 STUDIO TYPE F 219 403 STUDIO TYPE F 220 403 STUDIO TYPE F 221 403 STUDIO TYPE F 222 403 STUDIO TYPE F 223 403 STUDIO TYPE F 224 415 STUDIO TYPE F 225 414 STUDIO TYPE F 226 413 STUDIO TYPE E 3RD FLOOR (20'-0") 301 486 STUDIO TYPE C 302 450 STUDIO TYPE H 303 403 STUDIO TYPE F 304 403 STUDIO TYPE D UNIT AREA MOBILITY UNITS: 205, 226, 319, 416 AUDIO/VISUAL UNITS: 310, 409 PLAN REVIEW CORRECTIONS 2023-08-28 PLAN REVIEW CORRECTIONS 2023-05-19 PLAN REVIEW CORRECTIONS 2023-01-17 C PLAN REVIEW CORRECTIONS B PLAN REVIEW CORRECTIONS A PLAN REVIEW CORRECTIONS C NOTE: 1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA RECESSED HOSE BIB WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX STUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG UH CEILING FAN, REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. S E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. Q Q N N STUDIO 202 10'-1"1'-1 5/8" 11'-2 5/8"3'-9 1/8"ABS. MAX.2' - 0"12.03 THREE QUARTER BED 48" X 75" 11.01 12.03 11.02 22.01 11.0306.04 06.04 EQ EQ EQ EQ EQ EQEQEQ30" X 48" 30" X 48" 30" X 48" 30" X 48" NOTE: UNIT CLOSETS TO HAVE ADJUSTABLE SHELVING PER FHFC REQUIREMENTS ø 5' - 0" C1.1 F1 B3 B3 B4 B3 B3.2 B2.1 F1 CLR.4' - 11"CLR. 4' - 0" C1.1 202.2 202.1 202.3 202.A CLR.34"CLR. 15"34" MIN. NET CLR. 4" HANDLE SPACE C1 ELEC. 26.06 44 1/2"12"89 1/2"C1.1 133 1/2"76 1/2"44" Q Q N N 7' - 6" 7' - 6" 7' - 6" 9' - 6" 7' - 6" E UE UH UF UG UG UG2' - 1"2'-5" UI GWB on Mtl. Stud 7' - 6" GWB on Mtl. Stud 7' - 6"GWB on Mtl. Stud 7' - 6" GWB on Mtl. Stud 7' - 6" MIN. 2'-0" 23.075' - 0"3' - 6"4' - 4" EQ EQ 5'-4 1/8"7'-7 3/4" SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.76 ENLARGED UNIT PLANS BREEZE 08/02/23 ELDERLY AFFORDABLE MULTI FAMILY HOUSING 300 S. SHORE DRIVE MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 KEYNOTE LEGEND 06.04 SOLID SURFACE COUNTERTOP TYP. 11.01 REFRIGERATOR, GFCI 11.02 DISHWASHER. GFCI 11.03 RANGE/OVEN, GFCI 12.03 FURNITURE, NIC 22.01 UNDER-MOUNT SINK 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL GENERAL NOTES NO. AREA ROOM NAME UNIT TYPE 305 402 STUDIO TYPE F 306 403 STUDIO TYPE D 307 403 STUDIO TYPE F 308 403 STUDIO TYPE D 309 427 STUDIO TYPE F 310 434 STUDIO TYPE B 311 432 STUDIO TYPE G 314 406 STUDIO TYPE F 315 402 STUDIO TYPE D 316 416 STUDIO TYPE F 317 427 STUDIO TYPE D 318 403 STUDIO TYPE F 319 403 STUDIO TYPE F 320 403 STUDIO TYPE F 321 402 STUDIO TYPE F 322 403 STUDIO TYPE F 323 403 STUDIO TYPE F 324 415 STUDIO TYPE F 325 414 STUDIO TYPE F 4TH FLOOR (30'-0") 402 449 STUDIO TYPE H 403 403 STUDIO TYPE F 404 403 STUDIO TYPE D 405 402 STUDIO TYPE F 406 403 STUDIO TYPE D 407 403 STUDIO TYPE F 408 403 STUDIO TYPE D 409 426 STUDIO TYPE F 414 406 STUDIO TYPE F 415 402 STUDIO TYPE D 416 417 STUDIO TYPE F 417 427 STUDIO TYPE D 418 403 STUDIO TYPE F 419 403 STUDIO TYPE F 420 403 STUDIO TYPE F 421 402 STUDIO TYPE F 422 403 STUDIO TYPE F 423 403 STUDIO TYPE F 424 415 STUDIO TYPE F 425 414 STUDIO TYPE F NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 101 400 STUDIO GROUND FLR. 2ND FLOOR (10'-0") 201 486 STUDIO TYPE C 202 450 STUDIO TYPE H 203 403 STUDIO TYPE F 204 403 STUDIO TYPE D 205 402 STUDIO TYPE F 206 403 STUDIO TYPE D 207 403 STUDIO TYPE F 208 403 STUDIO TYPE D 209 429 STUDIO TYPE F 210 434 STUDIO TYPE B 211 434 STUDIO TYPE G 212 416 STUDIO TYPE A 213 406 STUDIO TYPE A 214 406 STUDIO TYPE F 215 402 STUDIO TYPE D 216 417 STUDIO TYPE F 217 427 STUDIO TYPE D 218 403 STUDIO TYPE F 219 403 STUDIO TYPE F 220 403 STUDIO TYPE F 221 403 STUDIO TYPE F 222 403 STUDIO TYPE F 223 403 STUDIO TYPE F 224 415 STUDIO TYPE F 225 414 STUDIO TYPE F 226 413 STUDIO TYPE E 3RD FLOOR (20'-0") 301 486 STUDIO TYPE C 302 450 STUDIO TYPE H 303 403 STUDIO TYPE F 304 403 STUDIO TYPE D UNIT AREA MOBILITY UNITS: 205, 226, 319, 416 AUDIO/VISUAL UNITS: 310, 409 SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 1STUDIO TYPE H - PLAN (UNIT 202 SHOWN) PLAN REVIEW CORRECTIONS 2023-08-28 C PLAN REVIEW CORRECTIONS SCALE: N.T.S.REF :SCALE: 1/2" = 1'-0" 2STUDIO TYPE H - RCP (UNITS 202 SHOWN) C A A B BF.O.CMUF.O.CMUF.O.CMUF.O.CMUCLR. ø 5'-0" 30X48 30X48 B3.2 B5 B4 B4 203.1 203.A CLR. 48" 30X48 30X48 30X48 30X48 403 SF STUDIO 203 ELEC. ______________________________________________________________________________________________________________________________________________________________ A9.02 8 A7.02 4 3 2 1 C LR .ø 5'-0"THREE QUARTER BED 48" X 75" B2 CLR. 60"CLR.5 1/2"CLR. 2' - 4" B3 ______________________________________________________________________________________________________________________________________________________________ A8.13 02 203.3 203.2 CLR. MIN. 2' - 0" C1 C1.1 C1.1 C1 CLR.4' - 11"ABS. MAX 24"ABS. MAX24"11.03 22.04 11.02 22.03 11.01 12.03 12.03 10.0210.03 22.03 10.01 10.04 22.13 VERIFY W/ MANUF.2' 7" CLR.EQ.EQ.EQ.EQ. EQ.EQ. EQ.EQ. 26.06 4" HANDLE SPACE 34" MIN. NET CLR. 06.04 EQEQ36X60 CLR. 36" CLR. 36" UNIT CLOSETS TO HAVE ADJUSTABLE SHELVING PER FHFC REQUIREMENTS 10.0622.07 10.02 10.02 22.14 05.07 EQEQ14' - 4" 16' - 4"2' - 5"CLR.5' - 0"3' - 10"1' - 5"2' - 7"EQEQEQEQ1' - 7 1/2"3' - 6 1/2"7' - 10 1/2"3' - 7 1/2"1' - 0 1/2"2' - 6"0' - 7 1/2"3' - 1" 33' - 7 1/2"12' - 10"A A B B 203.1 203.A B4 B3.2 B5 B4 C1.1 C1.1 C1 C1.1 B3 B2 F1 C1 B3 11.04 UG UG UG UH UF UE UI UD 7' - 6" 7' - 6" 7' - 6" 7' - 6" 9' - 6" 33' - 7 1/2" 7' - 9 1/2"4' - 10 1/2"2' - 10 1/2"2' - 7"3' - 0 1/2"3' - 10"1' - 6 1/2"EQEQ3' - 4 1/2" ALIGN SOFFIT TO EDGE OF WALLS 23.07 EF.O.CMUF.O.CMUF.O.CMUF.O.CMU1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE 9. NO GLAZING TO BE USED IN GUARDRAILS OR HAZARDOUS LOCATIONS LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA RECESSED HOSE BIB WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX B B 22.15A7.02 15 14 13 12 22.07 10.02 10.04 10.01 22.13 10.0210.03 10.06 22.03 206.2 34" MIN. NET CLR. 4" HANDLE SPACEEQEQ EQEQ30X48 30X48 30X48 CLR.5' - 2"3' - 10"1' - 2"CLR. ø 5'-0"F.O. CMUF.O. CMUSTUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG S UH CEILING FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.62 ENLARGED UNIT TYPE A PLANS VISTA 09/27/2023 ELDERLY AFFORDABLE MULTI-FAMILY HOUSING 175 S. SHORE DR. MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 SCALE: N.T.S.SCALE: 1/2" = 1'-0"REF: 01 / A3.20 01 STUDIO TYPE A - PLAN (UNIT 203) PLAN REVIEW CORRECTIONS 2023-08-28 PLAN REVIEW CORRECTIONS 2023-05-19 PLAN REVIEW CORRECTIONS 2023-01-17 PERMIT SET 2022-12-21 50% CD 2022-10-24 DESIGN DEVELOPMENT 2022-08-01 SCHEMATIC DESIGN 2022-03-14 C PLAN REVIEW CORRECTIONS B PLAN REVIEW CORRECTIONS A PLAN REVIEW CORRECTIONS PERMIT SET 50% CD SCALE: N.T.S.SCALE: 1/2" = 1'-0"REF: 01 / A3.22 2 STUDIO TYPE A - RCP (UNIT 203 SHOWN) KEYNOTE LEGEND 05.07 EXTERIOR ALUMINUM LOUVER TYP. 06.04 SOLID SURFACE COUNTERTOP TYP. 10.01 MIRROR, WALL MOUNTED W/ TEMPERED GLASS 10.02 GRAB BARS 10.03 TOILET PAPER HOLDER PER ACCESSORY SCHED. 10.04 MEDICINE CABINET, W/ FRAMELESS MIRROR DOOR 10.06 TOWEL BAR 11.01 REFRIGERATOR, GFCI 11.02 DISHWASHER. GFCI 11.03 RANGE/OVEN, GFCI 11.04 KITCHEN RANGE EXHAUST HOOD, CONTROLS TO BE MOUNTED WITHIN ACCESSBILE REACH RANGE 12.03 FURNITURE, NIC 22.03 BATHROOM SINK FAUCET 22.04 IN-UNIT SINK 22.07 ULTRA LOW-FLOW TOILET 22.13 SHOWER HEAD & CONTROLS 22.14 PREFAB BATHTUB ENCLOSURE UNIT 22.15 PREFAB SHOWER ENCLOSURE UNIT 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL GENERAL NOTES NO. AREA ROOM NAME UNIT TYPE 3RD FLOOR (20'-0") 301 444 STUDIO TYPE B 302 401 STUDIO TYPE A 303 404 STUDIO TYPE A 304 406 STUDIO TYPE A 305 407 STUDIO TYPE A 306 417 STUDIO TYPE A 307 435 STUDIO TYPE A 308 406 STUDIO TYPE A 309 407 STUDIO TYPE A 310 406 STUDIO TYPE A 311 407 STUDIO TYPE A 312 408 STUDIO TYPE A 313 406 STUDIO TYPE A 314 405 STUDIO TYPE A 315 405 STUDIO TYPE A 316 405 STUDIO TYPE A 317 402 STUDIO TYPE A 4TH FLOOR (30'-0") 402 412 STUDIO TYPE A 403 401 STUDIO TYPE A 404 403 STUDIO TYPE A 405 402 STUDIO TYPE A 406 413 STUDIO TYPE A 407 406 STUDIO TYPE A 408 404 STUDIO TYPE A 409 406 STUDIO TYPE A 410 407 STUDIO TYPE A 411 408 STUDIO TYPE A NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 102 408 STUDIO TYPE A 103 406 STUDIO TYPE A 104 405 STUDIO TYPE A 105 408 STUDIO TYPE A 106 416 STUDIO TYPE A 2ND FLOOR (10'-0") 201 424 STUDIO TYPE B 202 400 STUDIO TYPE A 203 403 STUDIO TYPE A 204 403 STUDIO TYPE A 205 409 STUDIO TYPE A 206 415 STUDIO TYPE A 207 425 STUDIO TYPE A 208 408 STUDIO TYPE A 209 408 STUDIO TYPE A 210 408 STUDIO TYPE A 211 406 STUDIO TYPE A 212 419 STUDIO TYPE A 213 405 STUDIO TYPE A 214 406 STUDIO TYPE A 215 406 STUDIO TYPE A 216 406 STUDIO TYPE A 217 408 STUDIO TYPE A UNITS SQUARE FOOTAGE A B SCALE: N.T.S.SCALE: 1/2" = 1'-0"REF: 01 / A3.20 3 STUDIO TYPE A (SHOWER) - PLAN (UNIT 206) MOBILITY UNITS: 106, 310, 411 AUDIO/VISUAL UNITS: 201 B MOBILITY UNITS: 106, 310, 411 AUDIO/VISUAL UNITS: 201 S A A B B 201.A 201.1 UH UF UI UE UGUG UG UD 05.07 B3 B3 B3.2 B3 B3 F1 B3B3.2 C1 C1.1 C1 C1.1 201.2 201.3 11.04 7' - 6" 7' - 6" 8' - 10" 7' - 6" 9' - 6"2' - 7"7' - 6"7' - 9 1/2" ALIGN SOFFIT TO EDGE OF WALLS ALIGN TO EDGE OF OPENING 4' - 4"3' - 4"EQEQ5' - 8"S 2' - 10 1/2" 23.07 E 33' - 7 1/2"F.O. CMUF.O. CMUF.O. CMUF.O. CMUA A B B A7.01 5 B2.1 B3 B3 B3.2 B3.2 B3 CLR. ø 5'-0" 201.1 201.A A7.02 5 6 7 8 30X48 30X48 ______________________________________________________________________________________________________________________________________________________________ A9.02 7 EQEQC L R .ø 5 '-0 "CLR.4' - 5"MAX. CLR. 2' - 0" 201.2 201.3 ELEC. EQ EQ EQEQ30" x 48"30" x 48"30" x 48" 30" x 48" CLR. 36" CLR. 36" C1.1 C1 C1.1 06.0411.03 THREE QUARTER BED 48" X 75"CLR.36"CLR. 36" 45 3/4"6" 6 CLR.60"CLR.48"4" HANDLE SPACE 34" MIN. NET CLR. 36X60 12.03 CLR. 20" F1F1F1 C1 424 SF STUDIO 201 11.02 VERIFY W/ MANUF.2' - 7" CLR.11.01 B3 12.03 ABS. MAX. 2' - 0"ABS. MAX. 2' - 0"CLR. 39" ______________________________________________________________________________________________________________________________________________________________ A8.02 9 22.02 22.07 10.0210.03 05.07 22.13 10.01 22.03 10.04 26.06 10.02 B2 UNIT CLOSETS TO HAVE ADJUSTABLE SHELVING PER FHFC REQUIREMENTS 10.06 06.04 EQEQ05.07 3' - 11 1/2" 3' - 3 1/2" 16' - 4 1/2" 2' - 5" 14' - 0 1/2" EQ EQ EQ EQ 5' - 2"2' - 7"201.B A4.04 1 A4.04 4 EQEQ4' - 0"1' - 4 1/2"33' - 7 1/2" 1' - 0"8' - 4 1/2"3' - 10"F.O. CMUF.O. CMUF.O. CMUF.O. CMU22.14 1. SEE ENLARGED PLANS FOR ADDITIONAL DIMENSIONS AND NOTES 2. ALL DIMENSIONS ARE TO FACE OF STRUCTURE UNLESS NOTED OTHERWISE. GRID DIMENSIONS ARE TO FACE OF CMU, FACE OF SHAFT, OR CENTERLINE OF WALL/COLUMN UNLESS NOTED OTHERWISE 3. FOR DRAINAGE PLAN AND FLOOR ELEVATIONS, SEE SLAB OR DRAINAGE PLAN 4. WOOD CLADDING ON EXTERIOR WALLS MUST COMPLY WITH FBC 2020, 1403.5 5. ELECTRICAL SYSTEMS, EQUIPMENT AND COMPONENTS; HEATING, VENTILATION, AIR CONDITIONING; PLUMBING APPLIANCES AND PLUMBING FIXTURES; DUCT SYSTEMS; AND OTHER SERVICE EQUIPMENT (POOL EQUIPMENT, WATER HEATERS, GENERATORS, ELECTRICAL PANELS, ETC.) SHALL BE ELEVATED AT OR ABOVE DESIGN FLOOD ELEVATION. (ASCE 24-14 CH. 7.0). 6. ALL CONSTRUCTION AND FINISH MATERIAL BELOW THE DESIGN FLOOD ELEVATION (DFE) OR LOWEST FLOOR ELEVATION, WHICHEVER IS HIGHER, SHALL BE FLOOD- DAMAGE-RESISTANT MATERIAL ACCORDING TO TABLE 5-1 AND TABLE 1-1 OF ASCE 24-14. A. DRIVEWAY SHALL BE COMPOSED OF POROUS PAVEMENT OR SHALL HAVE HIGH ALBEDO SURFACE CONSISTING OF DURABLE MATERIAL OR SEALANT. 7. WINDOWS/DOORS, ROOFING/WATERPROOFING, RAILINGS/FENCES, TRELISES/PERGOLAS/CANOPIES, PREFABRICATED STAIRS/LADDERS, AND ELEVATORS REQUIRE SEPERATE PERMITS AS PER CMB. 8. ENCLOSED AREAS BELOW THE DFE SHALL BE USED SOLELY FOR PARKING, BUILDING ACCESS OR STORAGE 9. NO GLAZING TO BE USED IN GUARDRAILS OR HAZARDOUS LOCATIONS LEGEND CONCRETE WALL OR COLUMN (PER STRUCTURAL) MASONRY (CMU) WALL STUD WALL (INTERIOR PARTITION) HARDSCAPE (SEE LANDSCAPE PLANS) LANDSCAPE / PLANTING AREA RECESSED HOSE BIB WALL DESIGNATION (SEE WALL TYPES ON A9.00 AND A9.01) FINISH ELEVATION (A.F.F., U.N.O.) 1i XXX STUCCO SOFFIT/CLG. AT BUILDING EXTERIOR. GYP. BOARD SOFFIT. SEE SECTION, ENLARGED UNIT PLANS, ENLARGED UNIT RCPS, AND DETAILS FOR SOFFIT AND GYP. BOARD HEIGHTS A.F.F. ALL SOFFITS FOR MECHANICAL EQUIPMENT AND DUCT RUNS TO BE CONSTRUCTED BELOW RATED FLOOR ASSEMBLY . SMOKE DETECTOR, SEE ELECTRICAL PLANS. PROVIDE COMBO SMOKE DETECTOR/ CARBON MONOXIDE DETECTOR W/ BATTERY BACKUP AT ALL LOCATIONS. LEGEND EXPOSED CONCRETE SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UF SURFACE MOUNTED LIGHT REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UI LINEAR VANITY LIGHT FIXTURE REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UE LINEAR LIGHT FIXTURE REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UD LINEAR UNDER CABINENT LIGHT FIXTURE REFER TO LIGHT FIXTURE SCHEDULE ON A7.00.UG S UH CEILING FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. E BATHROOM FAN REFER TO LIGHT FIXTURE SCHEDULE ON A7.00. SCALE: DATE PRINTED: SHEET TITLE: ALL DRAWINGS & WRITTEN MATERIAL APPEARING HEREIN CONSTITUTE ORIGINAL & UNPUBLISHED WORK OF THE ARCHITECT, & MAY NOT BE DUPLICATED, USED OR DISCLOSED WITHOUT THE WRITTEN CONSENT OF THE ARCHITECT. REVISIONS: AS INDICATED BROOKS + SCARPA ARCHITECTS 1147 NE 7TH AVENUE FORT LAUDERDALE, FL 33304 t: 954.683.1236 brooksscarpa.com As indicated A3.63 ENLARGED UNIT TYPE B PLANS VISTA 09/27/2023 ELDERLY AFFORDABLE MULTI-FAMILY HOUSING 175 S. SHORE DR. MIAMI BEACH, FL 33141 PROJECT NUMBER: 21024.0 SCALE: N.T.S.SCALE: 1/2" = 1'-0"REF: 01 / A3.22 2 STUDIO TYPE B - RCP (UNIT 201 SHOWN) PLAN REVIEW CORRECTIONS 2023-08-28 PLAN REVIEW CORRECTIONS 2023-05-19 PLAN REVIEW CORRECTIONS 2023-01-17 PERMIT SET 2022-12-21 50% CD 2022-10-24 DESIGN DEVELOPMENT 2022-08-01 SCHEMATIC DESIGN 2022-03-14 C PLAN REVIEW CORRECTIONS B PLAN REVIEW CORRECTIONS A PLAN REVIEW CORRECTIONS PERMIT SET 50% CD SCALE: N.T.S.SCALE: 1/2" = 1'-0"REF: 01 / A3.20 1 STUDIO TYPE B - PLAN (UNIT 201 SHOWN) KEYNOTE LEGEND 05.07 EXTERIOR ALUMINUM LOUVER TYP. 06.04 SOLID SURFACE COUNTERTOP TYP. 10.01 MIRROR, WALL MOUNTED W/ TEMPERED GLASS 10.02 GRAB BARS 10.03 TOILET PAPER HOLDER PER ACCESSORY SCHED. 10.04 MEDICINE CABINET, W/ FRAMELESS MIRROR DOOR 10.06 TOWEL BAR 11.01 REFRIGERATOR, GFCI 11.02 DISHWASHER. GFCI 11.03 RANGE/OVEN, GFCI 11.04 KITCHEN RANGE EXHAUST HOOD, CONTROLS TO BE MOUNTED WITHIN ACCESSBILE REACH RANGE 12.03 FURNITURE, NIC 22.02 SINK FAUCET 22.03 BATHROOM SINK FAUCET 22.07 ULTRA LOW-FLOW TOILET 22.13 SHOWER HEAD & CONTROLS 22.14 PREFAB BATHTUB ENCLOSURE UNIT 23.07 ACCESS PANEL PER MECH DWGS. 26.06 ELEC. PANEL. COLOR TO MATCH WALL GENERAL NOTES A B MOBILITY UNITS: 106, 310, 411 AUDIO/VISUAL UNITS: 201 NO. AREA ROOM NAME UNIT TYPE 3RD FLOOR (20'-0") 301 444 STUDIO TYPE B 302 401 STUDIO TYPE A 303 404 STUDIO TYPE A 304 406 STUDIO TYPE A 305 407 STUDIO TYPE A 306 417 STUDIO TYPE A 307 435 STUDIO TYPE A 308 406 STUDIO TYPE A 309 407 STUDIO TYPE A 310 406 STUDIO TYPE A 311 407 STUDIO TYPE A 312 408 STUDIO TYPE A 313 406 STUDIO TYPE A 314 405 STUDIO TYPE A 315 405 STUDIO TYPE A 316 405 STUDIO TYPE A 317 402 STUDIO TYPE A 4TH FLOOR (30'-0") 402 412 STUDIO TYPE A 403 401 STUDIO TYPE A 404 403 STUDIO TYPE A 405 402 STUDIO TYPE A 406 413 STUDIO TYPE A 407 406 STUDIO TYPE A 408 404 STUDIO TYPE A 409 406 STUDIO TYPE A 410 407 STUDIO TYPE A 411 408 STUDIO TYPE A NO. AREA ROOM NAME UNIT TYPE GROUND FLOOR (D.F.E. = 0'-0") 102 408 STUDIO TYPE A 103 406 STUDIO TYPE A 104 405 STUDIO TYPE A 105 408 STUDIO TYPE A 106 416 STUDIO TYPE A 2ND FLOOR (10'-0") 201 424 STUDIO TYPE B 202 400 STUDIO TYPE A 203 403 STUDIO TYPE A 204 403 STUDIO TYPE A 205 409 STUDIO TYPE A 206 415 STUDIO TYPE A 207 425 STUDIO TYPE A 208 408 STUDIO TYPE A 209 408 STUDIO TYPE A 210 408 STUDIO TYPE A 211 406 STUDIO TYPE A 212 419 STUDIO TYPE A 213 405 STUDIO TYPE A 214 406 STUDIO TYPE A 215 406 STUDIO TYPE A 216 406 STUDIO TYPE A 217 408 STUDIO TYPE A UNITS SQUARE FOOTAGE EXHIBIT C: Description of Housing I. Project Site Vista Breeze is a scattered site project consisting of two sites with one building per site as described below: Locations: Vista – 165-185 S Shore Dr Miami Beach, FL 33141. South of S Shore Dr, approx. 250 ft east of the intersection of S Shore Dr and Ray St, Miami Beach, Florida Breeze – 280-300 S Shore Dr Miami Beach, FL 33141. North of S Shore Drive, approx. 400 ft northeast of the intersection of S Shore Dr and Ray St, Miami Beach, Florida II. Units The total number of units to receive project-based assistance and be covered by this Agreement is 119, 100% of the units in the project. 49 units will be in a mid-rise building equipped with two elevators located on the Vista site, and the remainder of the units (70) will be located in a mid-rise building equipped with two elevators on the Breeze site. All units will be serving the elderly, 62 years or older, demographic. All units will be zero-bedroom, one bathroom efficiency units of various square footage as shown below: Bedroom Size/Number of Bathrooms Number of Units Net Square Feet per Unit 0/1 114 405 0/1 5 473 Amenities to be provided to the residents, at no extra charge, include:  Club room  Community kitchen  Business center  Laundry facilities III. Utilities 152686881.1 The utilities available to the contract units include:  Electric  Water  Sewer  Trash collection Of the above utilities, the owner will pay for water, sewer, and trash collection. IV. Rent The estimated initial rent to the owner, Vista Breeze, Ltd., for the contract units is detailed below: Number of Contract Units Bedroom Size Contract Rent Utility Allowance Gross Rent 2023 FMR 110% FMR 119 0 bedroom $1,365 $133 $1,498 $1,362 $1,498 The PHA intends to utilize 110% FMR rents for this property. (;+,%,7'+RXVLQJ$VVLVWDQFH3D\PHQWV&RQWUDFW OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 1 of Part 1 (04/2023) OMB Burden Statement. The public reporting burden for this collection of information is estimated to average 1 hour, including the time for collecting, reviewing and reporting the data. This form is required to establish terms between a PHA and owner to provide housing assistance. This contract allows a PHA to enter into a HAP contract with the owner to provide housing assistance payments for eligible families. Assurances of confidentiality are not provided under this collection. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions to reduce this burden, to the Office of Public and Indian Housing, US. Department of Housing and Urban Development, Washington, DC 20410. HUD may not conduct and sponsor, and a person is not required to respond to, a collection of information unless the collection displays a valid control number. Privacy Notice. The Department of Housing and Urban Development (HUD) is authorized to collect the information required on this form by 24 CFR § 983.202. The information sets forth the PHA and owner’s agreement to provide housing under the project-based component of the Housing Choice Voucher Program. The Personally Identifiable Information (PII) data collected on this form are not stored or retrieved within a system of record. 1. CONTRACT INFORMATION a. Parties This housing assistance payments (HAP) contract is entered into between: ____________________________________________________ ( PHA) and ____________________________________________________ (owner). b. Contents of contract The HAP contract consists of Part 1, Part 2, and the contract exhibits listed in paragraph c. c. Contract exhibits The HAP contract includes the following exhibits: U.S. Department of Housing and Urban Development Office of Public and Indian Housing SECTION 8 PROJECT-BASED VOUCHER PROGRAM HOUSING ASSISTANCE PAYMENTS CONTRACT NEW CONSTRUCTION OR REHABILITATION PART 1 OF HAP CONTRACT The Housing Authority of the City of Miami Beach Vista Breeze, Ltd. OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 2 of Part 1 (04/2023) EXHIBIT A: TOTAL NUMBER OF UNITS IN PROJECT COVERED BY THIS HAP CONTRACT; INITIAL RENT TO OWNER; AND DESCRIPTION OF THE CONTRACT UNITS. (See 24 CFR 983.203 for required items.) If this is a multi-stage project, this exhibit must include a description of the units in each completed phase. EXHIBIT B: SERVICES, MAINTENANCE AND EQUIPMENT TO BE PROVIDED BY THE OWNER WITHOUT CHARGES IN ADDITION TO RENT TO OWNER EXHIBIT C: UTILITIES AVAILABLE IN THE CONTRACT UNITS, INCLUDING A LISTING OF UTILITY SERVICES TO BE PAID BY THE OWNER (WITHOUT CHARGES IN ADDITION TO RENT TO OWNER) AND UTILITIES TO BE PAID BY THE TENANTS EXHIBIT D: FEATURES PROVIDED TO COMPLY WITH PROGRAM ACCESSIBILITY FEATURES OF SECTION 504 OF THE REHABILITATION ACT OF 1973 AND IMPLEMENTING REGULATIONS AT 24 CFR PART 8 ADDITIONAL EXHIBITS d. Single-Stage and Multi-Stage Contracts (place a check mark in front of the applicable project description). ___ Single-Stage Project This is a single-stage project. For all contract units, the effective date of the HAP contract is: ________________________________. ___Multi-Stage Project This is a multi-stage project. The units in each completed stage are designated in Exhibit A. The PHA enters the effective date for each stage after completion and PHA acceptance of all units in that stage. The PHA enters the effective date for each stage in the “Execution of HAP contract for contract units completed and accepted in stages” (starting on page 9). ✔ OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 3 of Part 1 (04/2023) The annual anniversary date of the HAP contract for all contract units in this multi-stage project is the anniversary of the effective date of the HAP contract for the contract units included in the first stage. The expiration date of the HAP contract for all of the contract units completed in stages must be concurrent with the end of the HAP contract term for the units included in the first stage (see 24 CFR 983.207(c)). e. Term of the HAP contract 1. Beginning of term The PHA may not enter into a HAP contract for any contract unit until the PHA (or an independent entity, as applicable) has determined that the unit meets PBV inspection requirements. The term of the HAP contract for any unit begins on the effective date of the HAP contract. 2. Length of initial term a. Subject to paragraph 2.b, the initial term of the HAP contract for any contract units is: ________________________________. b. The initial term of the HAP contract for any unit may not be less than one year, nor more than twenty years. 3. Extension of term The PHA and owner may agree to enter into an extension of the HAP contract at the time of initial HAP contract execution, or any time prior to expiration of the contract. Any extension, including the term of such extension, must be in accordance with HUD requirements. A PHA must determine that any extension is appropriate to achieve long-term affordability of the housing or expand housing opportunities. 4. Requirement for sufficient appropriated funding a. The length of the initial term and any extension term shall be subject to availability, as determined by HUD, or by the PHA in accordance with HUD requirements, of sufficient appropriated funding (budget authority), as provided in appropriations acts and in the PHA's annual contributions contract (ACC) with HUD, to make full payment of housing assistance payments due to the 20 years OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 4 of Part 1 (04/2023) owner for any contract year in accordance with the HAP contract. b. The availability of sufficient funding must be determined by HUD or by the PHA in accordance with HUD requirements. If it is determined that there may not be sufficient funding to continue housing assistance payments for all contract units and for the full term of the HAP contract, the PHA has the right to terminate the HAP contract by notice to the owner for all or any of the contract units. Such action by the PHA shall be implemented in accordance with HUD requirements. f. Occupancy and payment 1. Payment for occupied unit During the term of the HAP contract, the PHA shall make housing assistance payments to the owner for the months during which a contract unit is leased to and occupied by an eligible family. If an assisted family moves out of a contract unit, the owner may keep the housing assistance payment for the calendar month when the family moves out (“move-out month”). However, the owner may not keep the payment if the PHA determines that the vacancy is the owner’s fault. 2. Vacancy payment THE PHA HAS DISCRETION WHETHER TO INCLUDE THE VACANCY PAYMENT PROVISION (PARAGRAPH f.2), OR TO STRIKE THIS PROVISION FROM THE HAP CONTRACT FORM. a. If an assisted family moves out of a contract unit, the PHA may provide vacancy payments to the owner for a PHA-determined vacancy period extending from the beginning of the first calendar month after the move-out month for a period not exceeding two full months following the move-out month. b. The vacancy payment to the owner for each month of the maximum two-month period will be determined by the PHA, and cannot exceed the monthly rent to owner under the assisted lease, minus any portion of the rental payment received by the owner (including amounts available from the tenant’s security deposit). Any vacancy payment may cover only the period the unit remains vacant. OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 5 of Part 1 (04/2023) c. The PHA may make vacancy payments to the owner only if: 1. The owner gives the PHA prompt, written notice certifying that the family has vacated the unit and the date when the family moved out (to the best of the owner’s knowledge and belief); 2. The owner certifies that the vacancy is not the fault of the owner and that the unit was vacant during the period for which payment is claimed; 3. The owner certifies that it has taken every reasonable action to minimize the likelihood and length of vacancy; and 4. The owner provides any additional information required and requested by the PHA to verify that the owner is entitled to the vacancy payment. d. The PHA must take every reasonable action to minimize the likelihood and length of vacancy. e. The owner may refer families to the PHA for placement on the PBV waiting list. f. The owner must submit a request for vacancy payments in the form and manner required by the PHA and must provide any information or substantiation required by the PHA to determine the amount of any vacancy payments. 3. PHA is not responsible for family damage or debt to owner Except as provided in this paragraph f (Occupancy and Payment), the PHA will not make any other payment to the owner under the HAP contract. The PHA will not make any payment to the owner for any damages to the unit, or for any other amounts owed by a family under the family’s lease. g. Income-mixing requirement 1. Except as provided in paragraphs g.2 through g.5 below, the PHA will not make housing assistance payments under the HAP contract for more than OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 6 of Part 1 (04/2023) the greater of 25 units or 25 percent of the total number of dwelling units (assisted or unassisted) in any project. The term “project” means a single building, multiple contiguous buildings, or multiple buildings on contiguous parcels of land assisted under this HAP contract. 2. The limitation in paragraph g.1 does not apply to single-family buildings. 3. In referring eligible families to the owner for admission to the number of contract units in any project exceeding the 25 unit or 25 percent limitation under paragraph g.1, the PHA shall give preference to the applicable families as listed in g.8 below, for the number of contract units exclusively made available for occupancy by such families. The owner shall rent that number of contract units to such families referred by the PHA from the PHA waiting list. 4. Up to the greater of 25 units or 40 percent of units (instead of the greater of 25 units or 25 percent of units) in a project may be project-based if the project is located in a census tract with a poverty rate of 20 percent or less. 5. Units that were previously subject to certain federal rent restrictions or receiving another type of long-term housing subsidy provided by HUD do not count toward the income-mixing requirement if, in the five years prior to issuance of the Request for Proposal or notice of owner selection (for projects selected based on a prior competition or without competition), the unit received one of the forms of HUD assistance or was under a federal rent restriction as described in g.6 and g.7, below. 6. The following specifies the number of contract units (if any) that received one of the following forms of HUD assistance: ___ Public Housing or Operating Funds; ___ Project-Based Rental Assistance (including Mod Rehab and Mod Rehab Single-Room Occupancy); ___ Housing for the Elderly (Section 202 or the Housing Act of 1959); ___ Housing for Persons with Disabilities (Section 811 of the Cranston-Gonzalez Affordable Housing Act); ___ Rent Supplement Program; ___ Rental Assistance Program; OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 7 of Part 1 (04/2023) ___ Flexible Subsidy Program. Place a check mark in front of the form of assistance received by any of the contract units. The following total number of contract units received a form of HUD assistance listed above: ___________________________________________. If all of the units in the project received such assistance, then skip number g.8, below. 7. The following specifies the number of contract units (if any) that were under any of the following federal rent restrictions: ___ Section 236; ___ Section 221(d)(3) or (d)(4) BMIR (below-market interest rate); ___ Housing for the Elderly (Section 202 or the Housing Act of 1959); ___ Housing for Persons with Disabilities (Section 811 of the Cranston-Gonzalez Affordable Housing Act); ___ Flexible Subsidy Program. Place a check mark in front of the type of federal rent restriction that applied to any of the contract units. The following total number of contract units were subject to a federal rent restriction listed above: ___________________________________________. If all of the units in the project were subject to a federal rent restriction, then skip number g.8, below. 8. The following specifies the number of contract units (if any) exclusively made available to elderly families, families eligible for supportive services, or eligible youth receiving Family Unification Program or Foster Youth to Independence (FUP/FYI) assistance: a Place a check mark here ___ if any contract units are exclusively made available for occupancy by elderly families; The following number of contract units shall be rented to elderly families: ___________________________________________.119 ✔ OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 8 of Part 1 (04/2023) b. Place a check mark here ___ if any contract units are exclusively made available for occupancy by families eligible for supportive services. The following number of contract units shall be rented to families eligible for supportive services: ___________________________________________. c. Place a check mark here ___ if any contract units are exclusively made available for occupancy by eligible youth receiving FUP/FYI assistance. The following number of contract units shall be rented to eligible youth receiving FUP/FYI assistance: ___________________________________________. 9. The PHA and owner must comply with all HUD requirements regarding income mixing. OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 9 of Part 1 (04/2023) EXECUTION OF HAP CONTRACT FOR SINGLE-STAGE PROJECT I/We, the undersigned, certify under penalty of perjury that the information provided above is true and correct. WARNING: Anyone who knowingly submits a false claim or makes a false statement is subject to criminal and/or civil penalties, including confinement for up to 5 years, fines, and civil and administrative penalties. (18 U.S.C. §§ 287, 1001, 1010, 1012; 31 U.S.C. §3729, 3802). PUBLIC HOUSING AGENCY (PHA) Name of PHA (Print) By: Signature of authorized representative Name and official title (Print) Date OWNER Name of Owner (Print) By: Signature of authorized representative Name and official title (Print) Date The Housing Authority of the City of the Miami Beach Miguell Del Campillo, Executive Director Vista Breeze, Ltd. Kenneth Naylor, Vice President of the Managing General Partner OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 10 of Part 1 (04/2023) EXECUTION OF HAP CONTRACT FOR CONTRACT UNITS COMPLETED AND ACCEPTED IN STAGES (For multi-stage projects, at acceptance of each stage, the PHA and the owner sign the HAP contract execution for the completed stage.) I/We, the undersigned, certify under penalty of perjury that the information provided above is true and correct. WARNING: Anyone who knowingly submits a false claim or makes a false statement is subject to criminal and/or civil penalties, including confinement for up to 5 years, fines, and civil and administrative penalties. (18 U.S.C. §§ 287, 1001, 1010, 1012; 31 U.S.C. §3729, 3802). STAGE NO. 1: The Contract is hereby executed for the contract units in this stage. STAGE EFFECTIVE DATE: The effective date of the Contract for this stage is: Date PUBLIC HOUSING AGENCY (PHA) Name of PHA (Print) By: Signature of authorized representative Name and official title (Print) Date OWNER Name of Owner (Print) By: Signature of authorized representative Name and official title (Print) Date OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 11 of Part 1 (04/2023) STAGE NO. 2: The Contract is hereby executed for the contract units in this stage. STAGE EFFECTIVE DATE: The effective date of the Contract for this stage is: Date PUBLIC HOUSING AGENCY (PHA) Name of PHA (Print) By: Signature of authorized representative Name and official title (Print) Date OWNER Name of Owner (Print) By: Signature of authorized representative Name and official title (Print) Date OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 12 of Part 1 (04/2023) STAGE NO. 3: The Contract is hereby executed for the contract units in this stage. STAGE EFFECTIVE DATE: The effective date of the Contract for this stage is: Date PUBLIC HOUSING AGENCY (PHA) Name of PHA (Print) By: Signature of authorized representative Name and official title (Print) Date OWNER Name of Owner (Print) By: Signature of authorized representative Name and official title (Print) Date OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 13 of Part 1 (04/2023) STAGE NO. __: The Contract is hereby executed for the contract units in this stage. STAGE EFFECTIVE DATE: The effective date of the Contract for this stage is: Date PUBLIC HOUSING AGENCY (PHA) Name of PHA (Print) By: Signature of authorized representative Name and official title (Print) Date OWNER Name of Owner (Print) By: Signature of authorized representative Name and official title (Print) Date OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 1 of Part 2 (04/2023) OMB Burden Statement. The public reporting burden for this collection of information is estimated to average 1 hour. This form is required to establish terms between a PHA and owner to provide housing assistance. This contract allows a PHA to enter into a HAP contract with the owner to provide housing assistance payments for eligible families. Assurances of confidentiality are not provided under this collection. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions to reduce this burden, to the Office of Public and Indian Housing, US. Department of Housing and Urban Development, Washington, DC 20410. HUD may not conduct and sponsor, and a person is not required to respond to, a collection of information unless the collection displays a valid control number. 2. DEFINITIONS Agreement. Agreement to enter into HAP Contract between the owner and the PHA. The HAP contract was entered into following new construction or rehabilitation of the contract units by the owner pursuant to an Agreement. Contract units. The housing units covered by this HAP contract. The contract units are described in Exhibit A. Controlling interest. In the context of PHA-owned units (see definition below), controlling interest means: (a) Holding more than 50 percent of the stock of any corporation; or (b) Having the power to appoint more than 50 percent of the members of the board of directors of a non-stock corporation (such as a non-profit corporation); or (c) Where more than 50 percent of the members of the board of directors of any corporation also serve as directors, officers, or employees of the PHA; or (d) Holding more than 50 percent of all managing member interests in an LLC; or (e) Holding more than 50 percent of all general partner interests in a partnership; or U.S. Department of Housing and Urban Development Office of Public and Indian Housing SECTION 8 PROJECT-BASED VOUCHER PROGRAM HOUSING ASSISTANCE PAYMENTS CONTRACT NEW CONSTRUCTION OR REHABILITATION PART 2 OF HAP CONTRACT OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 2 of Part 2 (04/2023) (f) Having equivalent levels of control in other ownership structures. Family. The persons approved by the PHA to reside in a contract unit with assistance under the program. HAP contract. This housing assistance payments contract between the PHA and the owner. The contract consists of Part 1, Part 2, and the contract exhibits (listed in section 1.c of the HAP contract). Household. The family and any PHA-approved live-in aide. Housing assistance payment. The monthly assistance payment by the PHA for a contract unit, which includes: (1) a payment to the owner for rent to the owner under the family’s lease minus the tenant rent; and (2) an additional payment to or on behalf of the family if the utility allowance exceeds total tenant payment. Housing quality standards (HQS). The HUD minimum quality standards for dwelling units occupied by families receiving project-based voucher program assistance. HUD. U.S. Department of Housing and Urban Development. HUD requirements. HUD requirements which apply to the project-based voucher program. HUD requirements are issued by HUD headquarters, as regulations, Federal Register notices or other binding program directives. Newly constructed housing. Housing units that do not exist on the proposal selection date and are developed after the date of selection pursuant to an Agreement between the PHA and owner for use under the project-based voucher program. Owner. Any person or entity who has the legal right to lease or sublease a unit to a participant. PHA. Public Housing Agency. The agency that has entered into the HAP contract with the owner. The agency is a public housing agency as defined in the United States Housing Act of 1937 (42 U.S.C. 1437a(b)(6)). PHA-owned units. A unit is “owned by a PHA” if the unit is in a project that is: (a) Owned by the PHA (which includes a PHA having a “controlling interest” in the entity that owns the unit; see definition above); (b) Owned by an entity wholly controlled by the PHA; or OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 3 of Part 2 (04/2023) (c) Owned by a limited liability company (LLC) or limited partnership in which the PHA (or an entity wholly controlled by the PHA) holds a controlling interest in the managing member or general partner. Premises. The building or complex in which a contract unit is located, including common areas or grounds. Principal or interested party. This term includes a management agent and other persons or entities participating in project management, and the officers and principal members, shareholders, investors, and other parties having a substantial interest in the HAP contract, or in any proceeds or benefits arising from the HAP contract. Program. The project-based voucher program (see authorization for project- based assistance at 42 U.S.C. 1437f(o)(13)). Proposal selection date. The date the PHA gives written notice of proposal selection to the owner whose proposal is selected in accordance with the criteria established in the PHA’s administrative plan. Rehabilitated housing. Housing units that exist on the proposal selection date but do not substantially comply with the HQS on that date and are developed pursuant to an Agreement between the PHA and owner for use under the project-based voucher program. Rent to owner. The total monthly rent payable to the owner under the lease for a contract unit. Rent to owner includes payment for any housing services, maintenance and utilities to be provided by the owner in accordance with the lease. Tenant. The person or persons (other than a live-in aide) who executes the lease as a lessee of the dwelling unit. Tenant rent. The portion of the rent to owner payable by the family, as determined by the PHA in accordance with HUD requirements. The PHA is not responsible for paying any part of the tenant rent. 3. PURPOSE a. This is a HAP contract between the PHA and the owner. b. The purpose of the HAP contract is to provide housing assistance payments for eligible families who lease contract units that comply with OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 4 of Part 2 (04/2023) the HUD HQS from the owner. c. The PHA must make housing assistance payments to the owner in accordance with the HAP contract for contract units leased and occupied by eligible families during the HAP contract term. HUD provides funds to the PHA to make housing assistance payments to owners for eligible families. 4. RENT TO OWNER; HOUSING ASSISTANCE PAYMENTS a. Amount of initial rent to owner The initial rent to owner for each contract unit is stated in Exhibit A, which is attached to and made a part of the HAP contract. At the beginning of the HAP contract term, and until rent to owner is adjusted in accordance with section 5 of the HAP contract, the rent to owner for each bedroom size (number of bedrooms) shall be the initial rent to owner amount listed in Exhibit A. Place a check mark here ___ if the PHA has elected not to reduce rents below the initial rent to owner. b. HUD rent requirements Notwithstanding any other provision of the HAP contract, the rent to owner may in no event exceed the amount authorized in accordance with HUD requirements. The PHA has the right to reduce the rent to owner, at any time, to correct any errors in establishing or adjusting the rent to owner in accordance with HUD requirements. The PHA may recover any overpayment from the owner. c. PHA payment to owner 1. Each month the PHA must make a housing assistance payment to the owner for a unit under lease to and occupied by an eligible family in accordance with the HAP contract. 2. The monthly housing assistance payment to the owner for a contract unit is equal to the amount by which the rent to owner exceeds the tenant rent. 3. Payment of the tenant rent is the responsibility of the family. The PHA is not responsible for paying any part of the tenant rent, or for paying any other claim by the owner against a family. The PHA is responsible only for making housing assistance payments to the OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 5 of Part 2 (04/2023) owner on behalf of a family in accordance with the HAP contract. 4. The owner will be paid the housing assistance payment under the HAP contract on or about the first day of the month for which payment is due, unless the owner and the PHA agree on a later date. 5. To receive housing assistance payments in accordance with the HAP contract, the owner must comply with all the provisions of the HAP contract. Unless the owner complies with all the provisions of the HAP contract, the owner does not have a right to receive housing assistance payments. 6. If the PHA determines that the owner is not entitled to the payment or any part of it, the PHA, in addition to other remedies, may deduct the amount of the overpayment from any amounts due the owner, including amounts due under any other housing assistance payments contract. 7. The owner will notify the PHA promptly of any change of circumstances that would affect the amount of the monthly housing assistance payment, and will return any payment that does not conform to the changed circumstances. d. Termination of assistance for family The PHA may terminate housing assistance for a family under the HAP contract in accordance with HUD requirements. The PHA must notify the owner in writing of its decision to terminate housing assistance for the family in such case. 5. ADJUSTMENT OF RENT TO OWNER a. PHA determination of adjusted rent 1. At each annual anniversary during the term of the HAP contract, the PHA shall adjust the amount of rent to owner, upon request to the PHA by the owner, in accordance with law and HUD requirements. In addition, the PHA shall adjust the rent to owner when there is a ten percent decrease in the published, applicable Fair Market Rent in accordance with 24 CFR 983.302. However, if the PHA has elected within the HAP contract not to reduce rents OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 6 of Part 2 (04/2023) below the initial rent to owner, the rent to owner shall not be reduced below the initial rent to owner except in those cases described in 24 CFR 983.302(c)(2). 2. The adjustment of rent to owner shall always be determined in accordance with all HUD requirements. The amount of the rent to owner may be adjusted up or down, in the amount defined by the PHA in accordance with HUD requirements. b. Reasonable rent The rent to owner for each contract unit, as adjusted by the PHA in accordance with 24 CFR 983.303, may at no time exceed the reasonable rent charged for comparable units in the private unassisted market, except in cases where the PHA has elected within the HAP contract not to reduce rents below the initial rent to owner. The reasonable rent shall be determined by the PHA in accordance with HUD requirements. c. No special adjustments The PHA will not make any special adjustments of the rent to owner. d. Owner compliance with HAP contract The PHA shall not approve, and the owner shall not receive, any increase of rent to owner unless all contract units are in accordance with the HQS, and the owner has complied with the terms of the assisted leases and the HAP contract. e. Notice of rent adjustment Rent to owner shall be adjusted by written notice by the PHA to the owner in accordance with this section. Such notice constitutes an amendment of the rents specified in Exhibit A. 6. OWNER RESPONSIBILITY The owner is responsible for: a. Performing all management and rental functions for the contract units. b. Maintaining the units in accordance with HQS. c. Complying with equal opportunity requirements. OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 7 of Part 2 (04/2023) d. Enforcing tenant obligations under the lease. e. Paying for utilities and housing services (unless paid by the family under the lease). f. Collecting from the tenant: 1. Any security deposit; 2. The tenant rent; and 3. Any charge for unit damage by the family. 7. OWNER CERTIFICATION The owner certifies that at all times during the term of the HAP contract: a. All contract units are in good and tenantable condition. The owner is maintaining the premises and all contract units in accordance with the HQS. b. The owner is providing all the services, maintenance and utilities as agreed to under the HAP contract and the leases with assisted families. c. Each contract unit for which the owner is receiving housing assistance payments is leased to an eligible family referred by the PHA, and the lease is in accordance with the HAP contract and HUD requirements. d. To the best of the owner’s knowledge, the members of the family reside in each contract unit for which the owner is receiving housing assistance payments, and the unit is the family’s only residence. e. The owner (including a principal or other interested party) is not the parent, child, grandparent, grandchild, sister, or brother of any member of a family residing in a contract unit unless the PHA has determined that approving leasing of the unit would provide a reasonable accommodation for a family member who is a person with disabilities. f. The amount of the housing assistance payment is the correct amount due under the HAP contract. g. The rent to owner for each contract unit does not exceed rents charged by the owner for other comparable unassisted units. h. Except for the housing assistance payment and the tenant rent as provided OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 8 of Part 2 (04/2023) under the HAP contract, the owner has not received and will not receive any payments or other consideration (from the family, the PHA, HUD, or any other public or private source) for rental of the contract unit. i. The family does not own, or have any interest in the contract unit. If the owner is a cooperative, the family may be a member of the cooperative. 8. CONDITION OF UNITS a. Owner maintenance and operation The owner must maintain and operate the contract units and premises to provide decent, safe and sanitary housing in accordance with the HQS, including performance of ordinary and extraordinary maintenance. The owner must provide all the services, maintenance and utilities set forth in Exhibits B and C, and in the lease with each assisted family. b. PHA inspections 1. The PHA must inspect each contract unit before execution of the HAP contract. The PHA may not enter into a HAP contract covering a unit until the unit fully complies with the HQS. 2. Before providing assistance to a new family in a contract unit, the PHA must inspect the unit. The PHA may not provide assistance on behalf of the family until the unit fully complies with the HQS. 3. At least biennially during the term of the HAP contract, the PHA must inspect a random sample, consisting of at least 20 percent of the contract units in each building, to determine if the contract units and the premises are maintained in accordance with the HQS. Turnover inspections pursuant to paragraph 2 of this section are not counted toward meeting this biennial inspection requirement. 4. If more than 20 percent of the sample of inspected contract units in a building fail the initial inspection, the PHA must reinspect 100 percent of the contract units in the building. 5. The PHA must inspect contract units whenever needed to determine that the contract units comply with the HQS and that the owner is providing maintenance, utilities, and other services in accordance with the HAP contract. The PHA must take into account complaints and any other information that comes to its attention in scheduling inspections. OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 9 of Part 2 (04/2023) c. Violation of the housing quality standards 1. If the PHA determines a contract unit is not in accordance with the HQS, the PHA may exercise any of its remedies under the HAP contract for all or any contract units. Such remedies include termination, suspension or reduction of housing assistance payments, and termination of the HAP contract. 2. The PHA may exercise any such contractual remedy respecting a contract unit even if the family continues to occupy the unit. 3. The PHA shall not make any housing assistance for a dwelling unit that fails to meet the HQS, unless the owner corrects the defect within the period specified by the PHA and the PHA verifies the correction. If a defect is life threatening, the owner must correct the defect within no more than 24 hours. For other defects, the owner must correct the defect within no more than 30 calendar days (or any PHA-approved extension). d. Maintenance and replacement—owner’s standard practice Maintenance and replacement (including redecoration) must be in accordance with the standard practice for the building concerned as established by the owner. 9. LEASING CONTRACT UNITS a. Selection of tenants 1. During the term of the HAP contract, the owner must lease all contract units to eligible families selected and referred by the PHA from the PHA waiting list. (See 24 CFR 983.251.) 2. The owner is responsible for adopting written tenant selection procedures that are consistent with the purpose of improving housing opportunities for very low-income families and reasonably related to program eligibility and an applicant’s ability to perform the lease obligations. 3. Consistent with HUD requirements, and Federal civil rights and fair housing requirements, the owner may apply its own nondiscriminatory tenant selection procedures in determining whether to admit a family referred by the PHA for occupancy of a OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 10 of Part 2 (04/2023) contract unit. The owner may refer families to the PHA for placement on the PBV waiting list. 4. The owner must promptly notify in writing any rejected applicant of the grounds for rejection. 5. The PHA must determine family eligibility in accordance with HUD requirements. 6. The contract unit leased to each family must be appropriate for the size of the family under the PHA’s subsidy standards. 7. If a contract unit was occupied by an eligible family at the time the unit was selected by the PHA, or is so occupied on the effective date of the HAP contract, the owner must offer the family the opportunity to lease the same or another appropriately-sized contract unit with assistance under the HAP contract. 8. The owner is responsible for screening and selecting tenants from the families referred by the PHA from its waiting list. b. Vacancies 1. The owner must promptly notify the PHA of any vacancy in a contract unit. After receiving the owner notice, the PHA shall make every reasonable effort to refer a sufficient number of families for owner to fill the vacancy.. 2. The owner must rent vacant contract units to eligible families on the PHA waiting list referred by the PHA. 3. The PHA and the owner must make reasonable, good faith efforts to minimize the likelihood and length of any vacancy. 4. If any contract units have been vacant for a period of 120 or more days since owner notice of vacancy (and notwithstanding the reasonable good faith efforts of the PHA to fill such vacancies), the PHA may give notice to the owner amending the HAP contract to reduce the number of contract units by subtracting the number of contract units (by number of bedrooms) that have been vacant for such period. OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 11 of Part 2 (04/2023) 10. TENANCY a. Lease The lease between the owner and each assisted family must be in accordance with HUD requirements. In all cases, the lease must include the HUD-required tenancy addendum. The tenancy addendum must include, word-for-word, all provisions required by HUD. b. Termination of tenancy 1. The owner may only terminate the tenancy in accordance with the lease and HUD requirements. 2. The owner must give the PHA a copy of any owner eviction notice to the tenant at the same time that the owner gives notice to the tenant. Owner eviction notice means a notice to vacate, or a complaint or other initial pleading used to commence an eviction action under State or local law. c. Family payment 1. The portion of the monthly rent to owner payable by the family (“tenant rent”) will be determined by the PHA in accordance with HUD requirements. The amount of the tenant rent is subject to change during the term of the HAP contract. Any changes in the amount of the tenant rent will be effective on the date stated in a notice by the PHA to the family and the owner. 2. The amount of the tenant rent as determined by the PHA is the maximum amount the owner may charge the family for rent of a contract unit, including all housing services, maintenance and utilities to be provided by the owner in accordance with the HAP contract and the lease. 3. The owner may not demand or accept any rent payment from the tenant in excess of the tenant rent as determined by the PHA. The owner must immediately return any excess rent payment to the tenant. 4. The family is not responsible for payment of the portion of the contract rent covered by the housing assistance payment under the HAP contract. The owner may not terminate the tenancy of an OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 12 of Part 2 (04/2023) assisted family for nonpayment of the PHA housing assistance payment. 5. The PHA is responsible only for making the housing assistance payments to the owner on behalf of the family in accordance with the HAP contract. The PHA is not responsible for paying the tenant rent, or any other claim by the owner. d. Other owner charges 1. Except as provided in paragraph 2, the owner may not require the tenant or family members to pay charges for meals or supportive services. Nonpayment of such charges is not grounds for termination of tenancy. 2. In assisted living developments receiving project-based voucher assistance, owners may charge tenants, family members, or both for meals or supportive services. These charges may not be included in the rent to owner, nor may the value of meals and supportive services be included in the calculation of reasonable rent. Non-payment of such charges is grounds for termination of the lease by the owner in an assisted living development . 3. The owner may not charge the tenant or family members extra amounts for items customarily included in rent in the locality or provided at no additional cost to the unsubsidized tenant in the premises. e. Security deposit 1. The owner may collect a security deposit from the family. 2. The owner must comply with HUD and PHA requirements, which may change from time to time, regarding security deposits from a tenant. 3. The PHA may prohibit security deposits in excess of private market practice, or in excess of amounts charged by the owner to unassisted families. 4. When the family moves out of the contract unit, the owner, subject to State and local law, may use the security deposit, including any interest on the deposit, in accordance with the lease, as reimbursement for any unpaid tenant rent, damages to the unit or OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 13 of Part 2 (04/2023) other amounts which the family owes under the lease. The owner must give the family a written list of all items charged against the security deposit and the amount of each item. After deducting the amount used as reimbursement to the owner, the owner must promptly refund the full amount of the balance to the family. 5. If the security deposit is not sufficient to cover amounts the family owes under the lease, the owner may seek to collect the balance from the family. However, the PHA has no liability or responsibility for payment of any amount owed by the family to the owner. 11. FAMILY RIGHT TO MOVE a. The family may terminate its lease at any time after the first year of occupancy. The family must give the owner advance written notice of intent to vacate (with a copy to the PHA) in accordance with the lease. If the family has elected to terminate the lease in this manner, the PHA must offer the family the opportunity for tenant-based rental assistance in accordance with HUD requirements. b. Before providing notice to terminate the lease under paragraph a, the family must first contact the PHA to request tenant-based rental assistance if the family wishes to move with continued assistance. If tenant-based rental assistance is not immediately available upon lease termination, the PHA shall give the family priority to receive the next available opportunity for tenant-based rental assistance. 12. OVERCROWDED, UNDER-OCCUPIED, AND ACCESSIBLE UNITS The PHA subsidy standards determine the appropriate unit size for the family size and composition. The PHA and owner must comply with the requirements in 24 CFR 983.260. If the PHA determines that a family is occupying a wrong-size unit, or a unit with accessibility features that the family does not require, and the unit is needed by a family that requires the accessibility features, the PHA must promptly notify the family and the owner of this determination, and of the PHA’s offer of continued assistance in another unit. 24 CFR 983.260(a). 13. PROHIBITION OF DISCRIMINATION a. The owner may not refuse to lease contract units to, or otherwise discriminate against any person or family in leasing of a contract unit, because of race, color, religion, sex (including sexual orientation and gender identity), national origin, disability, age or familial status. OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 14 of Part 2 (04/2023) b. The owner must comply with the following requirements: The Fair Housing Act (42 U.S.C. 3601–19) and implementing regulations at 24 CFR part 100 et seq.; Executive Order 11063, as amended by Executive Order 12259 (3 CFR, 1959–1963 Comp., p. 652 and 3 CFR, 1980 Comp., p. 307) (Equal Opportunity in Housing Programs) and implementing regulations at 24 CFR part 107; title VI of the Civil Rights Act of 1964 (42 U.S.C. 2000d-2000d-4) (Nondiscrimination in Federally Assisted Programs) and implementing regulations at 24 CFR part 1; the Age Discrimination Act of 1975 (42 U.S.C. 6101–6107) and implementing regulations at 24 CFR part 146; section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794) and implementing regulations at 24 CFR part 8; title II of the Americans with Disabilities Act, 42 U.S.C. 12101 et seq.; 28 CFR part 35; Executive Order 11246, as amended by Executive Orders 113 75, 11478, 12086, and 12107 (3 CFR, 1964–1965 Comp., p. 339; 3 CFR, 1966–1970 Comp., p. 684; 3 CFR, 1966–1970 Comp., p. 803; 3 CFR, 1978 Comp., p. 230; and 3 CFR, 1978 Comp., p. 264, respectively) (Equal Employment Opportunity Programs) and implementing regulations at 41 CFR chapter 60; Executive Order 11625, as amended by Executive Order 12007 (3 CFR, 1971–1975 Comp., p. 616 and 3 CFR, 1977 Comp., p. 139) (Minority Business Enterprises); Executive Order 12432 (3 CFR, 1983 Comp., p. 198) (Minority Business Enterprise Development); and Executive Order 12138, as amended by Executive Order 12608 (3 CFR, 1977 Comp., p. 393 and 3 CFR, 1987 Comp., p. 245) (Women’s Business Enterprise). c. The owner must comply with HUD’s Equal Access to HUD-assisted or - insured housing rule (24 CFR 5.105(a)(2)). d. The owner must comply with the Violence Against Women Act, as amended, and HUD’s implementing regulation at 24 CFR part 5, Subpart L, and program regulations. e. The PHA and the owner must cooperate with HUD in the conducting of compliance reviews and complaint investigations pursuant to all applicable civil rights statutes, Executive Orders, and all related rules and regulations. 14. PHA DEFAULT AND HUD REMEDIES If HUD determines that the PHA has failed to comply with the HAP contract, or has failed to take appropriate action to HUD’s satisfaction or as directed by HUD, for enforcement of the PHA’s rights under the HAP contract, HUD may assume OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 15 of Part 2 (04/2023) the PHA’s rights and obligations under the HAP contract, and may perform the obligations and enforce the rights of the PHA under the HAP contract. 15. OWNER DEFAULT AND PHA REMEDIES a. Owner default Any of the following is a default by the owner under the HAP contract: 1. The owner has failed to comply with any obligation under the HAP contract, including the owner’s obligations to maintain all contract units in accordance with the housing quality standards. 2. The owner has violated any obligation under any other housing assistance payments contract under Section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f). 3. The owner has committed any fraud or made any false statement to the PHA or HUD in connection with the HAP contract. 4. The owner has committed fraud, bribery or any other corrupt or criminal act in connection with any Federal housing assistance program. 5. If the property where the contract units are located is subject to a lien or security interest securing a HUD loan or a mortgage insured by HUD and: i. The owner has failed to comply with the regulations for the applicable mortgage insurance or loan program, with the mortgage or mortgage note, or with the regulatory agreement; or ii. The owner has committed fraud, bribery or any other corrupt or criminal act in connection with the HUD loan or HUD-insured mortgage. 6. The owner has engaged in any drug-related criminal activity or any violent criminal activity. b. PHA remedies 1. If the PHA determines that a breach has occurred, the PHA may exercise any of its rights or remedies under the HAP contract. OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 16 of Part 2 (04/2023) 2. The PHA must notify the owner in writing of such determination. The notice by the PHA to the owner may require the owner to take corrective action (as verified by the PHA) by a time prescribed in the notice. 3. The PHA’s rights and remedies under the HAP contract include recovery of overpayments, termination or reduction of housing assistance payments, and termination of the HAP contract. c. PHA remedy is not waived The PHA’s exercise or non-exercise of any remedy for owner breach of the HAP contract is not a waiver of the right to exercise that remedy or any other right or remedy at any time. 16. OWNER DUTY TO PROVIDE INFORMATION AND ACCESS REQUIRED BY HUD OR PHA a. Required information The owner must prepare and furnish any information pertinent to the HAP contract as may reasonably be required from time to time by the PHA or HUD. The owner shall furnish such information in the form and manner required by the PHA or HUD. b. PHA and HUD access to premises The owner must permit the PHA or HUD or any of their authorized representatives to have access to the premises during normal business hours and, for the purpose of audit and examination, to have access to any books, documents, papers and records of the owner to the extent necessary to determine compliance with the HAP contract, including the verification of information pertinent to the housing assistance payments or the HAP contract. 17. PHA AND OWNER RELATION TO THIRD PARTIES a. Injury because of owner action or failure to act The PHA has no responsibility for or liability to any person injured as a result of the owner’s action or failure to act in connection with the implementation of the HAP contract, or as a result of any other action or failure to act by the owner. OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 17 of Part 2 (04/2023) b. Legal relationship The owner is not the agent of the PHA. The HAP contract does not create or affect any relationship between the PHA and any lender to the owner or any suppliers, employees, contractors or subcontractors used by the owner in connection with the implementation of the HAP contract. c. Exclusion of third-party claims Nothing in the HAP contract shall be construed as creating any right of a family or other third party (other than HUD) to enforce any provision of the HAP contract, or to assert any claim against HUD, the PHA or the owner under the HAP contract. d. Exclusion of owner claims against HUD Nothing in the HAP contract shall be construed as creating any right of the owner to assert any claim against HUD. 18. PHA-OWNED UNITS Notwithstanding Section 17 of this HAP contract, a PHA may own units assisted under the project-based voucher program, subject to the special requirements in 24 CFR 983.59 regarding PHA-owned units. 19. CONFLICT OF INTEREST a. Interest of members, officers, or employees of PHA, members of local governing body, or other public officials 1. No present or former member or officer of the PHA (except tenant- commissioners), no employee of the PHA who formulates policy or influences decisions with respect to the housing choice voucher program or project-based voucher program, and no public official or member of a governing body or State or local legislator who exercises functions or responsibilities with respect to these programs, shall have any direct or indirect interest, during his or her tenure or for one year thereafter, in the HAP contract. 2. HUD may waive this provision for good cause. b. Disclosure The owner has disclosed to the PHA any interest that would be a violation of the HAP contract. The owner must fully and promptly update such OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 18 of Part 2 (04/2023) disclosures. c. Interest of member of or delegate to Congress No member of or delegate to the Congress of the United States of America or resident-commissioner shall be admitted to any share or part of this HAP Contract or to any benefits arising from the contract. 20. EXCLUSION FROM FEDERAL PROGRAMS a. Federal requirements The owner must comply with and is subject to requirements of 2 CFR part 2424. b. Disclosure The owner certifies that: 1. The owner has disclosed to the PHA the identity of the owner and any principal or interested party. 2. Neither the owner nor any principal or interested party is listed on the U.S. General Services Administration list of parties excluded from Federal procurement and nonprocurement programs; and none of such parties are debarred, suspended, subject to a limited denial of participation or otherwise excluded under 2 CFR part 2424. 21. TRANSFER OF THE CONTRACT OR PROPERTY a. When consent is required 1. The owner agrees that neither the HAP contract nor the property may be transferred without the advance written consent of the PHA in accordance with HUD requirements. 2. “Transfer” includes: a. Any sale or assignment or other transfer of ownership, in any form, of the HAP contract or the property; b. The transfer of any right to receive housing assistance payments that may be payable pursuant to the HAP contract; OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 19 of Part 2 (04/2023) c. The creation of a security interest in the HAP contract or the property; d. Foreclosure or other execution on a security interest; or e. A creditor’s lien, or transfer in bankruptcy. 3. If the owner is a corporation, partnership, trust or joint venture, the owner is not required to obtain advance consent of the PHA pursuant to paragraph a for transfer of a passive and non- controlling interest in the ownership entity (such as a stock transfer or transfer of the interest of a limited partner), if any interests so transferred cumulatively represent less than half the beneficial interest in the HAP contract or the property. The owner must obtain advance consent pursuant to paragraph a for transfer of any interest of a general partner. b. Transferee assumption of HAP contract No transferee (including the holder of a security interest, the security holder’s transferee or successor in interest, or the transferee upon exercise of a security interest) shall have any right to receive any payment of housing assistance payments pursuant to the HAP contract, or to exercise any rights or remedies under the HAP contract, unless the PHA has consented in advance, in writing to such transfer, and the transferee has agreed in writing, in a form acceptable to the PHA in accordance with HUD requirements, to assume the obligations of the owner under the HAP contract, and to comply with all the terms of the HAP contract. c. Effect of consent to transfer 1. The creation or transfer of any security interest in the HAP contract is limited to amounts payable under the HAP contract in accordance with the terms of the HAP contract. 2. The PHA’s consent to transfer of the HAP contract or the property does not to change the terms of the HAP contract in any way, and does not change the rights or obligations of the PHA or the owner under the HAP contract. 3. The PHA’s consent to transfer of the HAP contract or the property to any transferee does not constitute consent to any further transfers of the HAP contract or the property, including further transfers to any successors or assigns of an approved transferee. OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 20 of Part 2 (04/2023) d. When transfer is prohibited The PHA will not consent to the transfer if any transferee, or any principal or interested party is debarred, suspended subject to a limited denial of participation, or otherwise excluded under 2 CFR part 2424, or is listed on the U.S. General Services Administration list of parties excluded from Federal procurement or nonprocurement programs. 22. SUBSIDY LAYERING a. Owner disclosure The owner must disclose to the PHA, in accordance with HUD requirements, information regarding any related assistance from the Federal Government, a State, or a unit of general local government, or any agency or instrumentality thereof, that is made available or is expected to be made available with respect to the contract units. Such related assistance includes, but is not limited to, any loan, grant, guarantee, insurance, payment, rebate, subsidy, credit, tax benefit, or any other form of direct or indirect assistance. b. Limit of payments Housing assistance payments under the HAP contract must be no more than is necessary, as determined in accordance with HUD requirements, to provide affordable housing after taking account of such related assistance. The PHA will adjust in accordance with HUD requirements the amount of the housing assistance payments to the owner to compensate in whole or in part for such related assistance. 23. OWNER LOBBYING CERTIFICATIONS a. The owner certifies, to the best of owner’s knowledge and belief, that: 1. No Federally appropriated funds have been paid or will be paid, by or on behalf of the owner, to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the awarding of the HAP contract, or the extension, continuation, renewal, amendment, or modification of the HAP contract. 2. If any funds other than Federally appropriated funds have been paid or will be paid to any person for influencing or attempting to OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 21 of Part 2 (04/2023) influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the HAP contract, the owner must complete and submit Standard Form-LLL, “Disclosure Form to Report Lobbying,” in accordance with its instructions. b. This certification by the owner is a prerequisite for making or entering into this transaction imposed by 31 U.S.C. 1352. 24. TERMINATION OF HAP CONTRACT FOR WRONGFUL SELECTION OF CONTRACT UNITS The HAP contract may be terminated upon at least 30 days notice to the owner by the PHA or HUD if the PHA or HUD determines that the contract units were not eligible for selection in conformity with HUD requirements. 25. NOTICES AND OWNER CERTIFICATIONS a. Where the owner is required to give any notice to the PHA pursuant to the HAP contract or any other provision of law, such notice must be in writing and must be given in the form and manner required by the PHA. b. Any certification or warranty by the owner pursuant to the HAP contract shall be deemed a material representation of fact upon which reliance was placed when this transaction was made or entered into. 26. NOTICE OF TERMINATION OR EXPIRATION WITHOUT EXTENSION a. An owner must provide notice to the PHA, and to the affected tenants, not less than 1 year prior to the termination or expiration without extension of a HAP contract. b. An owner who fails to provide such notice must permit tenants to remain in their units for the required notice period with no increase in the tenant portion of the rent. During this time period, an owner may not evict a tenant as a result of the owner’s inability to collect an increased tenant portion of rent. With PHA agreement, an owner may extend the terminating contract for a period of time sufficient to give tenants 1 years’s advance notice. 27. FAMILY’S RIGHT TO REMAIN Upon termination or expiration of the contract without extension, each family assisted under the contract may elect to use its assistance to remain in the project OMB Approval No. 2577–0169 (exp. 04/30/2026) Project-Based Voucher Program HAP Contract for New Construction/Rehab Previous editions are obsolete HUD 52530A Page - 22 of Part 2 (04/2023) if the family’s unit complies with the inspection requirements under section 8(o)(8) (42 U.S.C. 1437f(o)(8) of the U.S. Housing Act of 1937 (“the 1937 Act”)), the rent for the unit is reasonable as required by section 8(o)(10)(A) of the 1937 Act, and the family pays its required share of the rent and the amount, if any, by which the unit rent (including the amount allowed for tenant-paid utilities) exceeds the applicable payment standard. 28. ENTIRE AGREEMENT; INTERPRETATION a. The HAP contract, including the exhibits, is the entire agreement between the PHA and the owner. b. The HAP contract must be interpreted and implemented in accordance with all statutory requirements, and with all HUD requirements, including amendments or changes in HUD requirements during the term of the HAP contract. The owner agrees to comply with all such laws and HUD requirements. Any regulatory citation specifically included in this HAP contract is subject to any subsequent revision of such citation. Exhibit A to HAP Contract The total number of units to receive project-based assistance and be covered by HAP contract is 119, 100% of the units in the project. 49 units will be in a mid-rise building equipped with two elevators located on the Vista site, and the remainder of the units (70) will be located in a mid-rise building equipped with two elevators on the Breeze site. All units will be serving the elderly, 62 years or older, demographic. All units will be zero-bedroom, one bathroom efficiency units of various square footage as shown below: Bedroom Size/Number of Bathrooms Number of Units Net Square Feet per Unit 0/1 114 405 0/1 5 473 The estimated initial rent to the owner, Vista Breeze, Ltd., for the contract units is detailed below: Number of Contract Units Bedroom Size Contract Rent Utility Allowance Gross Rent 2023 FMR 110% FMR 119 0 bedroom $1,365 $133 $1,498 $1,362 $1,498 The PHA intends to utilize 110% FMR rents for this property. 152686805.1 Exhibit B to HAP Contract Amenities to be provided to the residents, at no extra charge, include:  Club room  Community kitchen  Business center  Laundry facilities 152688499.1 Exhibit C to HAP Contract The utilities available to the contract units include:  Electric  Water  Sewer  Trash collection Of the above utilities, the owner will pay for trash collection. 152688658.1 Exhibit D to HAP Contract Features provided to comply with program accessibility features of section 504 of the rehabilitation act of 1973 and implementing regulations at 24 CFR Part 8. The completed Vista Breeze development will include a total of seven (7) accessible units, including three (3) units with audio/visual accessibility. 152688572.1