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Sheet 1: Cover
SELECTION CRITERIA FOR [name of Grantee] NSP MULTIFAMILY RENTAL PROGRAM | Revised 04-17-2010 | Yes | No | ||||||||||||||||||||||
Grantees: this sheet is protected to prevent inadvertent deletion of formulas. The password is NSP. | |||||||||||||||||||||||||
PLEASE NOTE THAT THE CRITERIA SELECTED BY APPLICANT WILL BE ENFORCED IN THE NSP REGULATORY AGREEMENT. PLEASE REVIEW THE ATTACHED APPLICATION CHECKLIST BEFORE SUBMITTING YOUR APPLICATION. SELECTED CRITERIA CONSTITUTE AN IRREVOCABLE COMMITMENT WITH RESPECT TO THE CONSTRUCTION AND OPERATION OF THE PROJECT. * INDICATES THAT EVIDENCE TO SUPPORT QUALIFICATION FOR SELECTION CRITERIA MUST BE ATTACHED AS AN EXHIBIT TO THE APPLICATION TITLED "EVIDENTIARY MATERIALS FOR SELECTION CRITERIA". |
Green Bold indicates program criteria | ||||||||||||||||||||||||
PROJECT IDENTIFICATION | |||||||||||||||||||||||||
Project Name | Sample Project | ||||||||||||||||||||||||
Taxpayer Name | Acme CDC Sample Project LLC | ||||||||||||||||||||||||
County in which project will be located | County1 | ||||||||||||||||||||||||
City in which project will be located (if applicable) | n/a | ||||||||||||||||||||||||
Yes | Applying as Type A | ||||||||||||||||||||||||
Application is for what type of project? | Type A | Type A | Type B | Both | No | Applying as Type B | |||||||||||||||||||
County1 | County2 | County3 | County4 | County5 | County6 | County7 | County8 | County9 | County10 | County11 | Eligible Counties | ||||||||||||||
BACKGROUND INFORMATION ON PROJECT | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | Index | |||||||||||||
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Points (n/a) | ||||||||||||||
Total units in project | 40 | Points (n/a) | |||||||||||||||||||||||
Units Affordable At or Below 50% AMI | 20 | 50.0000% | of total units | Points (n/a) | |||||||||||||||||||||
Required Units At / Below 50% AMI | 20 | 50.0% | of total units required | 50.0% | minimum 50% AMI for Type A projects | ||||||||||||||||||||
50% AMI Units in excess of minimum requirement | 0 | 75.0% | minimum 50% AMI for Type B projects | ||||||||||||||||||||||
Units Affordable at 50% AMI to 80% AMI | 15 | 37.5% | of total units | ||||||||||||||||||||||
Units Affordable at 80% AMI to 120% AMI | 5 | 12.5% | of total units | 5 | units minimum project size | Yes | Meets Type A Project criteria? | ||||||||||||||||||
Other Units (e.g. market rate units) | 0 | 0.0% | of total units | 100.0% | minimum at 120% AMI or below | Yes | At least 5 units? | ||||||||||||||||||
40 | minimum units at 120% AMI or below | Yes | At least 100% of units at 120% AMI or below? | ||||||||||||||||||||||
Yes | At least 50% of units at 50% AMI? | ||||||||||||||||||||||||
30.0% | minimum 50%-80% AMI units for Type A | Yes | At least 30% of units at 50-80% AMI? | ||||||||||||||||||||||
Total Sources of Funds | $5,000,000 | Must agree with Sources & Uses page | No | Meets Type B Project criteria? | |||||||||||||||||||||
Total Initial Reserves | $1,000,000 | Must agree with Sources & Uses page | Yes | At least 5 units? | |||||||||||||||||||||
$5,000 per unit | $200,000 | $5,000 | per unit ceiling for initial reserves | Yes | At least 100% of units at 120% AMI or below? | ||||||||||||||||||||
Initial Reserves above $5,000 per unit | $800,000 | Will affect leverage points, see below | No | At least 75% of units at 50% AMI? | |||||||||||||||||||||
Adjusted Total Sources of Funds | $4,200,000 | ||||||||||||||||||||||||
Gap Financing Loan Amount Requested | $1,675,000 | ||||||||||||||||||||||||
Gap Financing Loan Interest Rate | Zero % | Zero % | AFR | ||||||||||||||||||||||
Timing for Gap Financing Loan funding | Pari Passu | See RFP IV.D.2 | Completion | Pari Passu | |||||||||||||||||||||
NSP as % of adjusted total sources of funds | 39.9% | 50% | max for Type A projects | ||||||||||||||||||||||
70% | max for Type B projects | ||||||||||||||||||||||||
Meets Type A unit mix / affordability reqts | Yes | 50% | max for this project | ||||||||||||||||||||||
Meets Type B unit mix / affordability reqts | No | ||||||||||||||||||||||||
Has construction started? | Yes | Not eligible for funding | |||||||||||||||||||||||
Has the sponsor and/or any Affiliates submitted other | |||||||||||||||||||||||||
applications for this Program? | Yes | * Attach a list of affiliated applications | |||||||||||||||||||||||
ERROR -- not a Type B project | |||||||||||||||||||||||||
POOL IN WHICH SPONSOR IS APPLYING | Type A | 118 | Points | Type A | Type B | General | 1 | ||||||||||||||||||
OK | ERROR -- not a Type B project | OK | |||||||||||||||||||||||
Your | Possible | ||||||||||||||||||||||||
Points | Points | ||||||||||||||||||||||||
I. GAP FINANCING LOAN PER UNIT (Maximum Points: 100) | |||||||||||||||||||||||||
Gap Financing Loan Requested | $1,675,000 | $41,875 | per unit | ||||||||||||||||||||||
Maximum Gap Financing Loan: | $4,000,000 | $6,000,000 | Cap per project | ||||||||||||||||||||||
Based on Cap Per Project | $6,000,000 | $100,000 | Type A | ||||||||||||||||||||||
Based on Cap Per Unit | $4,000,000 | $100,000 | per unit | $100,000 | Type B | ||||||||||||||||||||
Adjusted NSP Award is Below or Equal To the Cap? | Yes | ||||||||||||||||||||||||
Amount by which project is below the funding cap | $2,325,000 | 58.1% | 58 | 100 | |||||||||||||||||||||
II. GAP FINANCING LOAN LEVERAGE (Maximum Points: 100) | |||||||||||||||||||||||||
Total Sources of Funds | $5,000,000 | ||||||||||||||||||||||||
Less Initial Reserves > $5,000 Per Unit | ($800,000) | $5,000 | $200,000 | maximum initial reserves allowed for calculation | |||||||||||||||||||||
Net Sources for Computation | $4,200,000 | ||||||||||||||||||||||||
Gap Financing Loan Requested | $1,675,000 | ||||||||||||||||||||||||
As % of Net Sources | 39.9% | ||||||||||||||||||||||||
Times 100, rounded | 40 | ||||||||||||||||||||||||
Subtracted from 100 | 60 | 60 | 100 | ||||||||||||||||||||||
TOTAL POINTS | 118 |
Grantees -- this sheet is protected to prevent inadvertent damage to formulas; the password is 'NSP' (case sensitive) | Select One | Select One | Select One | ||||||||||||||||
DETAIL BY PROJECT SITE FOR [name of Grantee] NSP MULTIFAMILY RENTAL PROGRAM | Revised 04-29-2010 | "Foreclosed" | Acquisition Only | Option to Purchase | Yes | ||||||||||||||
"Abandoned" | Acq and Rehab | Option to Lease | No | ||||||||||||||||
For the Sample Project project, sponsored by Acme CDC Sample Project LLC | "Vacant" | Acq and Redev | Acquired Post 12-08-09 | ||||||||||||||||
"Demolished" | Other | ||||||||||||||||||
NSP Property Type (note 1) | NSP Activity (note 2) | Type of Site Control | Any pre-1978 Buildings? | Any Occupied Units? | Any Demolition? | ||||||||||||||
Site # | Street Address | ||||||||||||||||||
1 | 123 Elm Street | "Foreclosed" | Acq and Rehab | Option to Purchase | Yes | Yes | Yes | ||||||||||||
2 | 126 Elm Street | "Abandoned" | Acq and Rehab | Acquired Post 12-08-09 | No | No | No | ||||||||||||
3 | Select One | Select One | Select One | No | No | No | |||||||||||||
4 | Select One | Select One | Select One | No | No | No | |||||||||||||
5 | Select One | Select One | Select One | No | No | No | |||||||||||||
6 | Select One | Select One | Select One | No | No | No | |||||||||||||
7 | Select One | Select One | Select One | No | No | No | |||||||||||||
8 | Select One | Select One | Select One | No | No | No | |||||||||||||
9 | Select One | Select One | Select One | No | No | No | |||||||||||||
10 | Select One | Select One | Select One | No | No | No | |||||||||||||
11 | Select One | Select One | Select One | No | No | No | |||||||||||||
12 | Select One | Select One | Select One | No | No | No | |||||||||||||
13 | Select One | Select One | Select One | No | No | No | |||||||||||||
14 | Select One | Select One | Select One | No | No | No | |||||||||||||
15 | Select One | Select One | Select One | No | No | No | |||||||||||||
16 | Select One | Select One | Select One | No | No | No | |||||||||||||
17 | Select One | Select One | Select One | No | No | No | |||||||||||||
18 | Select One | Select One | Select One | No | No | No | |||||||||||||
19 | Select One | Select One | Select One | No | No | No | |||||||||||||
20 | Select One | Select One | Select One | No | No | No | |||||||||||||
Note 1 -- see the RFP ("Creating an NSP-Eligible Rental Property") for the NSP property type definitions | |||||||||||||||||||
Note 2 -- see the RFP ("Creating an NSP-Eligible Rental Property") for the eligible activities | |||||||||||||||||||
Total Units to be Developed | |||||||||||||||||||
NSP Eligible Units | Not NSP Eligible | ||||||||||||||||||
Site # | Street Address | 50% AMI | 50-80% | 80-120% | Market | Other (Note 3) | Total | ||||||||||||
1 | 123 Elm Street | 4 | 0 | 0 | 0 | 0 | 4 | ||||||||||||
2 | 126 Elm Street | 22 | 0 | 0 | 0 | 0 | 22 | ||||||||||||
3 | 0 | ||||||||||||||||||
4 | 0 | ||||||||||||||||||
5 | 0 | ||||||||||||||||||
6 | 0 | ||||||||||||||||||
7 | 0 | ||||||||||||||||||
8 | 0 | ||||||||||||||||||
9 | 0 | ||||||||||||||||||
10 | 0 | ||||||||||||||||||
11 | 0 | ||||||||||||||||||
12 | 0 | ||||||||||||||||||
13 | 0 | ||||||||||||||||||
14 | 0 | ||||||||||||||||||
15 | 0 | ||||||||||||||||||
16 | 0 | ||||||||||||||||||
17 | 0 | ||||||||||||||||||
18 | 0 | ||||||||||||||||||
19 | 0 | ||||||||||||||||||
20 | 0 | ||||||||||||||||||
Total for Project | 26 | 0 | 0 | 0 | 0 | 26 | |||||||||||||
Note 3 -- in your application, provide an explanation if any units are shown in this column |
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