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Application
Tax Credits, RPP Loans, and/or Tax Exempt Bond Loans
Project Description
Project Name: Berewick Multi-family
Address: 5832 Dixie River Road
City: Charlotte, NC County: Mecklenburg Zip: 28278
Census Tract: 59.01 Block Group: 3
Is project in Qualified Census Tract or Difficult to Develop Area? No

Are you requesting the basis boost under section II(E)(4) of the QAP? No
Political Jurisdiction: City of Charlotte

First:Patrick Last:
Jurisdiction CEO Name: Title: Mayor
McCrory
Jurisdiction Address: 600 East Fourth Street
Jurisdiction City: Charlotte Zip: 28202
Jurisdiction Phone: (704)336-7600
Site Latitude: 35.172523
Site Longitude: -80.984086
Project Type: New Construction
Is this project a previously awarded tax credit

development?
New Construction/Adaptive Reuse:

Is this project a follow-on (Phase II, etc) to a previously-awarded tax credit development project? No
If yes, list names of previous phase(s):

Rehab:
Number of residents holding Section 8
vouchers:
Will the project meet Energy Star standards as defined in Appendix B? Yes
Does a community revitalization plan exist? No

Will the project use steel and concrete construction and have at least 4 stories? No
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Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77?
No
If yes, please describe:
Target Population:Family
Will the project be receiving project based federal rental assistance? No
If yes, provide the subsidy source: and number of units:

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Applicant Information
Indicate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. Under
QAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant
must become part of the ownership entity. The applicant will execute the signature page for this application.
Applicant Name: Charlotte-Mecklenburg Housing Partnership, Inc.
Address: 4601 Charlotte Park Dr., Suite 350
City: Charlotte, State: NC Zip: 28217

Contact: First: Patricia Last:Garrett Title:President
Telephone: (704)342-0933
Alt Phone: (704)285-6010
Fax: (704)342-2745
Email Address: fdodson@cmhp.org

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

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Site Description
Total Site Acreage: 8.39 Total Buildable Acreage: 5.69

If buildable acreage is less than total acreage, please explain:
The building acreage in this project is less than the site acreage because it substracts the local zoning
setback ordinace. (Final survey yet to be done once CMHP has property ownership).
Identify utilities and services currently available (and with adequate capacity) for this site:
Storm Sewer Water Sanitary Sewer Electric
Is the demolition of any buildings required or planned? No

If yes, please describe:
Are existing buildings on the site currently occupied? No

If yes:
(a) Briefly describe the situation:
(b) Will tenant displacement be temporary?

(c) Will tenant displacement be permanent?
Is the site directly accessed by an existing, paved, publicly maintained road? Yes
If no, please explain:
Is any portion of the site located inside the 100 year floodplain? No
If yes:
(a) Describe placement of project buildings in relation to this area:

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(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:

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Site Control
Does the owner have fee simple ownership of the property (site/buildings)?No
If yes provide:
Purchase Date: Purchase Price:
If no:
(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?Yes
(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for
purchase of the property and the seller of the property?No
If yes, specify the relationship:
(c) Enter the current expiration date of the option/contract to purchase: 03/30/2000
(D) Enter Purchase Price: 780,000

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Zoning
Present zoning classification of the site:CC & MX-1
Is multifamily use permitted?Yes
Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?Yes
If yes, have the hearings been completed and permits been obtained?No
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for
obtaining them:
Current zoning allows for multi-family construction. There is an existing buffer condition due to previous
zoning. We will rezone to MF-22 to eliminate the previous buffer condition.
Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office
review?No
If yes, describe below:
Are there any existing conditions of environmental significance located on the project site?No
If yes, describe below:

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Ownership Entity
Owner Name: Berewick Apartments, LLC

Address: 4601 Charlotte Park Dr. Ste 350
City: Charlotte State:NC Zip: 28217
Federal Tax ID Number of Ownership Entity: (If assigned)

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

First Name: Patricia Last Name: Garrett Function: Managing Member
Address: 4601 Charlotte Park Dr., Suite 350
City: Charlotte State: NC Zip: 28217
Phone: (704)342-0933 Fax: (704)342-2745
EMail: pgarrett@cmhp.org Nonprofit: Yes

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Unit Mix
The Median Income for Mecklenburg county is $66,500.
Low Income Units
Total # Monthly Utility Mandatory **Total

Type # BRs Net Sq.Ft. # Units Units Rent Allowance Serv. Fees Housing Exp.
Gdn Apt 2 900 17 4 320 105 0 425
Gdn Apt 3 1100 10 2 370 125 0 495
Gdn Apt 2 900 43 4 615 105 0 720
Gdn Apt 3 1100 38 2 700 125 0 825
Utilities included in rents: Water/Sewer Electric Gas Other Trash collection
Employee Units (will add to Low Income Unit total)

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

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

Units Units Rental Income
Low Income....... 108 12 62185
Market Rate.......
Totals............... 108 12 62185
Proposed number of residential buildings: 3 Maximum number of stories in buildings: 3
Project Includes:
Separate community building - Sq. Ft. (Floor Area): 2,150
Community space within residential bulding(s) - Sq. Ft. (Floor Area):

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Elevators - Number of Elevators:
Square Footage Information
Gross Floor Square Footage: 126,718
Total Net Sq. Ft. (All Heated Areas): 118,428
Indicate below any additional targeting for special populations proposed for this project:
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal and
state codes.)
Number of Units: 6
Number of Units Required: 12

Persons with disabilities or homeless populations.
Number of Units: 11
Notes
** Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low
income units are within established thresholds.
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Targeting
Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to
create another row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.
# BRs Units %
2 17 targeted at 30 percent of median income affordable to/occupied by
Total Low Income Units: 108
Note: This number should match the total number of low income units in the Unit Mix section.

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Funding Sources
Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service
Bank Loan 1,960,213 7.00 35 35 150,275
RPP Loan
Local Gov. Loan - Specify:

2,500,000 ✔ 1.00 40 40
City of Charlotte Loan
RD 515 Loan
RD 538 Loan - Specify:
AHP Loan
Other Loan 1 - Specify:
Tax Exempt Bonds
State Tax Credit(Loan) 1,091,129 0 30 30 0
State Tax Credit(Direct Refund)
Equity: Federal LIHTC 6,874,112
Non-Repayable Grant
Equity: Historic Tax Credits
Deferred Developer Fees
Owner Investment
Other - Specify:
Total Sources** 12,425,454
* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt
service below.
** Total Sources must equal total replacement cost in Project Development Cost (PDC) section.
Estimated pricing on sale of Federal Tax Credits: $0. 70
Remarks concerning project funding sources:

(Please be sure to include the name of the funding source(s))

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Loans with Variable Amortization

Please fill in the annual debt service as applicable for the first 20 years of the project life.
Local Gov. Loan - City of Charlotte Loan
Year: 1 2 3 4 5 6 7 8 9 10
Amt: 0 0 0 0 0 0 0 0 0 0
11 12 13 14 15 16 17 18 19 20
Year:
Amt: 0 0 0 0 0 0 0 0 0 0

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Development Costs
Eligible Basis
Item Cost Element TOTAL COST
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only)
2 Demolition (Rehab / Adaptive Reuse only)
3 On-site Improvements 1,200,000 1,080,000
4 Rehabilitation
5 Construction of New Building(s) 6,475,000 6,475,000
6 Accessory Building(s)
7 General Requirements (max 6% lines 2-6) 460,500 460,500
8 Contractor Overhead (max 2% lines 2-7) 162,710 162,710
9 Contractor Profit (max 8% lines 2-7; 6% if Identity of Interest) 663,856 663,856
10 Construction Contingency (max 5% lines 2-9, Rehabs 10%) 387,750 387,750
11 Architect's Fee - Design (11 + 12 = max 3% lines 2-10) 280,273 280,273
12 Architect's Fee - Inspection 30,000 30,000
13 Engineering Costs 120,000 120,000
SUBTOTAL (lines 1 through 13) 9,780,089
14 Construction Insurance (prorate) 60,000 54,000
15 Construction Loan Orig. Fee (prorate) 20,000 18,000
16 Construction Loan Interest (prorate) 120,000 108,000
17 Construction Loan Credit Enhancement (prorate)
18 Construction Period Taxes (prorate) 20,000 18,000
19 Water, Sewer and Impact Fees 120,000 120,000
20 Survey 12,000 12,000
21 Property Appraisal 12,000 12,000
22 Environmental Report 9,000 9,000
23 Market Study 10,200 10,200
24 Bond Costs
25 Bond Issuance Costs
26 Placement Fee
27 Permanent Loan Origination Fee
28 Permanent Loan Credit Enhancement

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29 Title and Recording 10,000
SUBTOTAL (lines 14 through 29) 393,200
30 Real Estate Attorney 20,000
31 Other Attorney's Fees 20,000 20,000
32 Tax Credit Application Fees (Preliminary and Full) 2,300
33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 67,650
34 Cost Certification / Accounting Fees 20,000 20,000
35 Tax Opinion 5,000
36 Organizational (Partnership) 10,000
37 Tax Credit Monitoring Fee 75,600
38 Furnishings and Equipment 50,000 50,000
39 Relocation Expense
40 Developer's Fee 800,000 800,000
41 Additional Contigency (greater of $500/unit or $30,000)
42 Other Basis Expense (specify)
43 Other Basis Expense (specify)
44 Rent-up Expense 32,400
45 Other Non-basis Expense (specify)
46 Other Non-basis Expense (specify)
47 Rent up Reserve 32,400
48 Operating Reserve 336,815
49 Other Reserve (specify)
50 Other Reserve (specify)
51 DEVELOPMENT COST (lines 1-49) 11,645,454 0 10,911,289
52 Less Federally Funded Grant
53 Less Disproportionate Standard
54 Less Nonqualified Nonrecourse Financing
55 Less Historic Tax Credit 0
56 TOTAL ELIGIBLE BASIS 10,911,289 0 10,911,289
57 Applicable Fraction (percentage of LI Units) 100.00% 100% 100%

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58 Basis Before Boost 10,911,289 0 10,911,289
59 Basis Boost of up to 130% 100.00% 100.00%
60 TOTAL QUALIFIED BASIS 10,911,289 0 10,911,289
61 Tax Credit Rate 3.50 9.00
62 Federal Tax Credits (maximum $1,300,000) 982,016 0 982,016
63 Federal Tax Credits Requested (if less than line 62) 0
64 Land Cost 780,000
65 TOTAL REPLACEMENT COST 12,425,454
FEDERAL TAX CREDITS IF AWARDED 982,016
Comments:
Project Development Cost per unit 59,954

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Market Study Information

Please provide a detailed description of the proposed project:
Berewick Apartments is a proposed 108 unit family apartment community fronting Dixie River Road. If
funded, Berewick Apartments will be constructed on an 8.5 acre parcel in the new Berewick master-planned
community. The site is now composed of three parcels. Charlotte-Mecklenburg Housing Partnership, Inc.
(“CMHP”) has negotiated a purchase and sale agreement for all three parcels with Pappas Properties, LLC
in anticipation of submitting a preliminary application for Federal Low Income Housing Tax Credits.
Berewick is sure to be one of the most desirable communities in southwest Charlotte. It is a 1,070 acre
community that will feature Business Park - office space, town centers with retail space and several large
single family neighborhoods developed by some of the region’s finest homebuilders. Home prices range
from $180,000 to $500,000. The community will also feature one of the largest district parks in the county.
CMHP’s multi-family development on the Berewick site is in the design development phase. It is anticipated
that the development will include multiple three-story buildings housing (60) two-bedroom apartments, (48)
three-bedroom apartments, a club house, a community room with sunroom, a resident computer center and
an exercise room. The facility will also feature some outdoor amenities including a playground area, bike
racks, a covered picnic area with grills and outdoor seating areas with benches.
Adjacent to the site will be a new Berewick Elementary school now under construction by Charlotte
Mecklenburg Schools (CMS). The school will incorporate a 30,000 square foot recreation center that will be
shared with the park containing a gym, meeting rooms and facilities for seniors. The School is scheduled to
be in service by the 2009 school year. Towards the north or behind the site Mecklenburg County - Park and
Recreation will develop a large district park with 195 acres of soccer fields, ball fields, tennis courts,
playgrounds, spray grounds, nature trails and open spaces among other sporting amenities. South of the
site across from Dixie River Road will be a new single family subdivision and a Church. Residents choosing
to reside in the proposed multi-family apartment community will enjoy a park-like setting with easy access to
all neighborhood conveniences.
Funding sources for the proposed development include Federal Low Income Housing Tax Credits, City
Housing Trust Funds and a State Tax Credit Loan. Total development cost for the 108 unit development is
projected to be $13,000,000.
Construction (check all that apply):
Brick Vinyl Wood HardiPlank Balconies/Patios Sunrooms Front Porches
Front Gables or Dormers Wide Banding or Vertical/Horizontal Siding
Other:
Substituting brick on building exterior base with stone cladding as allowed by revised 2009 QAP.
Have you built other tax credit developments that use the same building design as this project?No
If yes, please provide name and address:

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Site Amenities:
Berewick Multi-family site amenities will include a clubhouse, a community room, a resident computer room
with a min. of (2) computers and an exercise room.
Onsite Activities:
Onsite amenities will include a resident playground, covered picnic area with (2) tables and one grill,
outdoor sitting area with benches on (3) locations
Landscaping Plans:
The facility's exterior will have attractive landscaping in a similar fashion as the developer's prior tax credit
communities.
Interior Apartment Amenities:

Our interior apartment amenities will include range with hood, dishwasher, disposal, refrigerator with ice-
maker, washer and dryer hook-ups, mini blinds, carpet, vinyl flooring and central air conditioning.
Do you plan to submit additional market data (market study, etc.) that you want considered? Yes
If yes, please make sure to include the additional information in your pre-application packet.

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Applicant's Site Evaluation

Briefly describe your site in each of the following categories:
NEIGHBORHOOD CHARACTERISTICS
Trend and direction of real estate development and area economic health. Physical condition of buildings and
improvements in the immediate vicinity. Concentration of affordable housing.
The Berewick Multi-family site is a part of a much larger master planned development. This development is
largely rsidential in nature and is located in the fast-growing Lake Wylie/ Steel Creek section of
Mecklenburg County. The area has a great deal of appeal do to its proximity to uptown Charlotte, the airport
and nearby office districts. The County is also investing in the area to accommodate the growing need for
schools, libraries and parks. The median home price for the area is $233,000 and there is presently no
affordable housing available. (Please see additional information provided for the Market Analyst.)
SURROUNDING LAND USES AND AMENITIES
Land use pattern is residential in character (single and multifamily housing). Extent that the location is
isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:
wastewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distribution
facilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,
sources of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount and
character of vacant, undeveloped land. In addition to the largely residential developmet within and near the
Berewick District a significant number of commercial retail space and office space is also being planned in
two nearby towncenters. The new Berewick Towncenter will be located within walking of the proposed
apartments. This towncenter will have a variety of retail stores totaling 113,600 sf. In addition it will include a
bank, a daycare center, live/work space, a grocery store and a pharmacy that is expected to start
construction in fall of 2009. Another proposed center within a mile is Shopton Square which will be located at
the intersection of Steel Creek Rd. and Dixie River Rd. This center will be anchored by Bloom and CVS
Pharmacy. More information is provided in the Market Study Information Package.
SITE SUITABILITY
Adequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilities
(particularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project sign
(s) in relation to traffic corridors. The site has been determined to be suitable for the proposed use. There are
some planned street realignments currently underway in the area that will improve the quality of life for the
future tenants. Notably, the residents will benefit from the realignment of the primary access to the site. This
will occur when Dixie River Road's intersection with Steele Creek Road is realigned with the present Steele
Creek Road and Shopton Road. This Signalized intersection alignment will help improve and organize the
traffic flow.
Degree of on-site negative features and physical barriers that will impede project construction or adversely
affect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, large
boulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-
suitability for residential use and difficulties posed by the building(s), such as limited parking, environmental
problems or the need for excessive demolition).
Even though the site presents a challenging steep slope towards the north side, we are pleased to propose
a building plan that addresses the slope issue favorably and allows the buildings to have a presence at the
street level. No other on-site negative features are present on our selected site.

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Similarity of scale and aesthetics/architecture between project and surroundings.

Since Berewick Multi-family will be part of a master planned community the site will have to comply with
design criteria developed and administered by a homeowners association. We are confident that these
design criteria can be met within the proposed development budget and will not harm the affordability of the
units to our future tenants. In fact we believe that the aesthetic requirements of the design criteria will allow
the proposed development to maintain cohesive development integration in architectural language and
aesthetics features to be in harmony with the rest of the community.
For each applicable neighborhood feature, enter distance from project in miles.
3.2 Grocery Store 7.7 Community/Senior Center
3.3 Mall/Strip Center 2.9 Hospital
2.4 Outdoor Athletic 1.7 Pharmacy

Fields
2.3 Day Care/After 2.7 Basic Health Care

School
3.4 Public Transportation

0.2 Schools
Stop
0.7 Convenience Store 0.5 Public Parks
1.9 Gas Station 2.4 Library
Other facilities or services:

Airport - 2.0 miles
Bank - 2.06 miles
Church - 1.08 miles
Hotels - 3.0 miles
Restaurants - 2.2 miles

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Preliminary App Checklist
The following enclosures must be submitted along with your signed preliminary application. Some enclosures are required only under
certain conditions. Please check each applicable item to indicate that you understand the enclosure requirements and will enclose the
correct supporting documentation with your application.
Fee Payment
Check in the amount of $5,450.00 made payable to North Carolina Housing Finance Agency.
Tab A - Preliminary Application
Printed, signed copy of preliminary application generated from online system.
B - Map/Driving Instructions
A local map clearly identifying the location of the Site and detailed directions to the Site. Current City or County maps are preferred
– internet maps and directions are not acceptable. Applicant must also provide a map identifying the amenities listed in section IV
(A)(1)(b)(ii) of the QAP and their proximity to the site.
Applicant must provide a sign and boundary markers to clearly identify the road frontage of the site. The sign identifying the site
should read “SITE” with a minimum size of 11x17.
C - Community Revitalization Plan
Applicant should provide a map identifying the subject site within the Plan area (if applicable).
D - Evidence of Site Control
Provide valid option/contract or warranty deed and plot plan.
E - Site Plans/Scope of Work
Preliminary site plan, floor plans and elevations for all projects, interior and exterior photographs and detailed scope of work for
Adaptive Reuse and Rehab projects. Site and floor plans should be no larger than 11x17 and must be produced by a licensed
architect or engineer.
F - Information Package for Market Analysts
This section must include copies of items required in Tabs A, B, E and G (site and floor plans should be no larger than 11x17) and
can include any additional market information such as preliminary market studies the applicant would like to provide to the
Analysts.
G - Rent Roll (Rehabs only)
Provide the current rent roll for the property and indicate which units (if any) are receiving rental assistance.
H - Documentation for Basis Boost
Applicant should provide an appraisal and/or standard geological survey to support a request for the basis boost (if applicable).

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City: Charlotte, NC County: Mecklenburg Zip: 28278

Census Tract: 59.01 Block Group: 3

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

Political Jurisdiction: City of Charlotte

Jurisdiction City: Charlotte Zip: 28202

Jurisdiction Phone: (704)336-7600

Site Latitude: 35.172523

Site Longitude: -80.984086

Project Type: New Construction

Is this project a previously awarded tax credit

New Construction/Adaptive Reuse:

If yes, list names of previous phase(s):

Does a community revitalization plan exist? No

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

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City: Charlotte, State: NC Zip: 28217

Alt Phone: (704)285-6010

Email Address: fdodson@cmhp.org

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Total Site Acreage: 8.39 Total Buildable Acreage: 5.69

Storm Sewer Water Sanitary Sewer Electric

Is the demolition of any buildings required or planned? No

Are existing buildings on the site currently occupied? No

(b) Will tenant displacement be temporary?

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Purchase Date: Purchase Price:

(D) Enter Purchase Price: 780,000

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Is multifamily use permitted?Yes

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Owner Name: Berewick Apartments, LLC

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

Org: Charlotte-Mecklenburg Housing Partnership, Inc.

Phone: (704)342-0933 Fax: (704)342-2745

EMail: pgarrett@cmhp.org Nonprofit: Yes

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Low Income Units

Total # Monthly Utility Mandatory **Total

Gdn Apt 2 900 17 4 320 105 0 425

Gdn Apt 3 1100 10 2 370 125 0 495

Gdn Apt 2 900 43 4 615 105 0 720

Gdn Apt 3 1100 38 2 700 125 0 825

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

Employee Units (will add to Low Income Unit total)

Total # Monthly Utility Mandatory **Total

Utilities included in rents: Water/Sewer Electric Gas Other

Market Rate Units

Total # Monthly Utility Mandatory **Total

Utilities included in rents: Water/Sewer Electric Gas Other

All Gross Monthly

Low Income....... 108 12 62185

Totals............... 108 12 62185

Proposed number of residential buildings: 3 Maximum number of stories in buildings: 3

Community space within residential bulding(s) - Sq. Ft. (Floor Area):

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Elevators - Number of Elevators:

Square Footage Information

Gross Floor Square Footage: 126,718