Professional Documents
Culture Documents
Project Description
Project Name: Taylor West at Taylor Estates
Address: 1214 N. 4th Street
Will the project meet Energy Star standards as defined in Appendix B? Yes
Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77? Yes
If yes, please describe: Taylor West will have a separate 2036+/- square foot brick and fiber cement Community Service Facility. The
facility contains handicap accessible toilet facilities; kitchen area that includes a refrigerator, sink and oven with
stovetop range; administrative office area; maintenance and storage rooms; computer center; exercise room
with equipment; laundry facilities; and a covered porch with sitting areas around a portion of the building.
Resident mailboxes are conveniently located at the community building at a lighted and covered area.
Target Population:Family
Will the project be receiving project based federal rental assistance? Yes
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: Housing and Economic Opportunities, Inc.
Address: 1524 S. 16th Street
Telephone: (910)341-7700
Fax: (910)254-9244
Site Description
Identify utilities and services currently available (and with adequate capacity) for this site:
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:
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
Site Control
Does the owner have fee simple ownership of the property (site/buildings)?Yes
If yes provide:
If no:
(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?
(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?
If yes, specify the relationship:
Zoning
Present zoning classification of the site:MF-M
Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?No
If yes, have the hearings been completed and permits been obtained?
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for
obtaining them:
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:
Ownership Entity
Unit Mix
The Median Income for New Hanover county is $57,600.
Statistics
Market Rate.......
Totals............... 48 6 26525
Project Includes:
Separate community building - Sq. Ft. (Floor Area): 2,036
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: 3
Number of Units: 3
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.
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 %
Note: This number should match the total number of low income units in the Unit Mix section.
Funding Sources
Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service
Bank Loan
RPP Loan
RD 515 Loan
AHP Loan
Non-Repayable Grant
Owner Investment
Other - Specify:
* "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.
Development Costs
Eligible Basis
Item Cost Element TOTAL COST
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only)
4 Rehabilitation
6 Accessory Building(s)
24 Bond Costs
26 Placement Fee
33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 45,482
39 Relocation Expense
64 Land Cost
Comments:
The Wilmington Housing Authority is the fee simple owner of the property. The Housing Authority will be
entering into a Ground Lease with the owner of the development. The owner of the development will be a
limited liability company with Housing and Economic Opportunities, Inc. (HEO) as one of its members. HEO
is the non-profit instrumentality of the Housing Authority.
Since 2004 the City of Wilmington lost over 500 affordable public housing units. The lost units were at least
65 years old.
At present, 863 individuals/families compose the Wilmington Housing Authority’s waiting list for public
housing. Due to the loss of units since 2004, the waiting list is now closed but accepts applications for a
priority if the need is documented. The preferences consist of homeless, domestic violence, disabled,
elderly and veterans. The Pointe at Taylor Estates, a recently built 48 unit tax credit project, was fully leased
within 54 days and has a waiting list of over 70 applicants. This documents the need for affordable housing
in this area.
Taylor West is a 48 unit development consisting of 26 two bedroom units, 20 three bedroom units and 2
four bedroom units in 12 residential buildings. The architectural style blends with the styles of the recently
constructed tax credit developments of Robert R. Taylor Senior Homes and The Pointe at Taylor Estates.
The property contains very large old oak trees that will remain undisturbed and give the property a charm
and feel of the past. Landscaped areas include sod and irrigation, in addition to the beautiful flowering
shrubs and vegetation which are native to our coastal climate. Carriage style street lamps throughout the
development give the neighborhood a warm and cozy feeling.
There are 12 two-storey buildings. Three of those buildings are garden apartments which will include all
handicap on the ground level. The exterior of the buildings is at least forty percent brick veneer with quality
fiber cement and metal roof accents, including color variations between the lower and upper floors which
provide additional definition to the design of the buildings and enhances the neighborhood. The roof is
constructed of high quality twenty-five year anti-fungal shingles and metal roofing accents to give the
buildings a coastal/urban flair.
Standard features include carpeting throughout the living and bedrooms, quality VCT flooring in the kitchen,
dining area, entrance area, and bathrooms; six panel solid interior doors; solid wood cabinetry in the kitchen
and bathrooms; a pantry, a mounted fire extinguisher in the kitchen; mini blinds throughout; washer/dryer
hook-ups; patio; exterior storage closet; and an energy efficient thirteen seer rated HVAC system. The
kitchen includes an energy star dishwasher and frost free refrigerator with freezer, and an oven with stove-
top range. Each unit has its own private entrance with a covered porch and exterior door with a single lever
deadbolt and eye viewer. All exterior doors and double pane vinyl windows are insulated. There are lighted
ceiling fans, telephone jacks and cable connections in the living and bedrooms; lighted walk-in closets; and
exterior lighting at the unit’s entry doors.
The site location has all the conveniences of a downtown district, including shopping, restaurants, banking,
churches, schools, medical facilities, and public parks and pools. It is located north of downtown Wilmington
where the majority of new growth such as shopping, medical offices, hotels and residential areas are being
constructed.
Other:
(i) Metal roof accents; (ii) Community Service Facility; (iii) Underground Cultec storm water infiltration
system
Have you built other tax credit developments that use the same building design as this project?No
If yes, please provide name and address:
Site Amenities:
Taylor West includes amenities that will provide a high quality of life for its residents. There is ample parking
in close vicinity to each tenant’s unit, including handicap parking per code. The buildings are positioned in a
family-friendly manner that creates open spaces for resident use and play.
Other site amenities include a covered picnic area with tables and grill, sitting areas, playground, flagpole,
and refuse collection areas. The signage at Taylor West is located at the entrance to the development and
is visible to motorists and pedestrians in the area.
Taylor West has a separate 2036+/- square foot brick and fiber cement Community Service Facility. The
facility contains handicap accessible toilet facilities; kitchen area that includes a refrigerator, sink and oven
with stovetop range; administrative office area; maintenance and storage rooms; computer center; exercise
room with equipment; laundry facilities; and a covered porch with sitting areas around a portion of the
building. Resident mailboxes are conveniently located at the community building at a lighted and covered
area.
Onsite Activities:
Onsite activities will be provided by the Wilmington Housing Authority. Programs may include, but are not
limited to:
• Mentoring to Manhood (MTM): This program targets young men between the ages of 14 through 18 and
focuses on developing an understanding of social responsibility and establishing a place as an effective
leader in the community.
• P.E.A.R.L. Girls (Poised, Elegant, And Responsible Leaders): This program is dedicated to developing
and encouraging self-esteem, teaching ethics, respect and civility for young women ages 7 through 17.
• Programs for adults featuring homebuyer’s education, money management, financial literacy (Money
Smart), and credit repair.
Landscaping Plans:
The property contains very large old oak trees that will remain undisturbed and give the property a charm
and feel of the past. The sod and irrigated landscape includes flowering shrubs and vegetation which are
native to our coastal climate. Carriage style street lamps, sitting areas, and a playground strategically
located on the property create a family friendly feel to the development. The site’s attractive signage is
located at the entrance to the development and is visible to motorists and pedestrians in the area.
Do you plan to submit additional market data (market study, etc.) that you want considered? No
If yes, please make sure to include the additional information in your pre-application packet.
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 trend and direction of real estate development continues to improve. The development is a part of the
City’s NorthSide Community Plan, a revitalization plan that addresses housing, aesthetics, safety, amenities
and other community needs. Objective 3.0 of the plan refers to the replacement of the former Taylor Homes
development. A portion of this objective was reached upon the completion of the construction of The Robert
R. Taylor Senior Homes and The Pointe at Taylor Estates. The construction of Taylor West would complete
this objective (see page 5-5 of the NorthSide Community Plan).
Completed in the last three years and located less than a mile from the site are the luxury condominiums
Bannerman Station, Weldon Deco Condos, Modern Baking Company Lofts, The Mercantile, and Brooklyn
House on the Promenade, adding 111 new units to the area. PPD (a contract research company with
partners in the pharmaceutical, biotechnology, and other fields) recently completed their 400,000 square
foot worldwide corporate headquarters overlooking the Cape Fear River and is within one mile of Taylor
West. The recently constructed 84,000 square foot multi-million dollar police headquarters is two blocks
from the site.
Currently under construction within one mile from Taylor West is the Bank of America building, the multi-
million dollar Wilmington Convention Center, marina, and the full-service 157 room Hotel Indigo. In
November 2008, the Wilmington City Council also approved $7 million for the phased redevelopment of
property near the Isabel Holmes Bridge which will add residential units, hotels, office and retail space in the
downtown area. Cape Fear Community College, less than a mile from the site, recently received voter
approval of a $164 million bond referendum to build three new buildings dedicated to training in health,
technology, and general studies with the objective of bringing new jobs to Wilmington. The Gateway Project
is less than two miles from Taylor West and was given approval by the Wilmington City Council in October
2008. It is a mixed use high rise development which includes 260 condominium units, a restaurant, 40 boat
slips, and retail space for shops and food services.
The recently completed tax credit developments of The Pointe at Taylor Estates and Robert R. Taylor
Senior Homes added much needed quality affordable housing to the downtown area. The addition of Taylor
West supports the goal of creating affording housing in this growing downtown area.
The physical condition of the surrounding the site is continually improving along with the quality of the
neighborhood.
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. Taylor West is located in the Northside Community area of downtown
Wilmington and is in close proximity to residential neighborhoods, retail services and amenities. In addition to
the newly constructed luxury condominiums in the area, there is a mix of single and multi-family homes in the
immediate vicinity, including the recently opened tax credit properties Robert R. Taylor Senior Homes and
The Pointe at Taylor Estates. There is a wide variety of services and amenities that are available to residents
of Taylor West. There are eleven convenience stores or specialty food markets located within one mile, two
full-service grocery stores within two miles, and four full-service grocery stores within four miles. There are
several quaint retail shops at Chandler’s Warf, The Cotton Exchange, and at many individual specialty shops
that are located throughout the downtown area. Shopping at Independence Mall, various strip malls and a
Wal-Mart Supercenter are within one to four miles of the site and are easily accessible by the WAVE public
transit bus service. Basic health care includes New Hanover Community Heath Center which is located within
two blocks of the proposed site. Also located in the downtown area are two walk-in clinics. New Hanover
Regional Hospital, physician offices and pharmacies are located within three miles or less from the site. All
facilities are accessible by public transit bus service. Taylor West is in the New Hanover County School
District and is served by seven public schools from elementary to high school, which includes one year-round
and three County Pre-K schools. All County school facilities, including the gymnasiums, athletic fields, and
auditoriums are available for public use. Additional educational facilities which are one mile or less include St.
Mary’s Catholic School and Cape Fear Community College. The University of North Carolina-Wilmington is
four miles away. There are several local child development day care centers within one mile of Taylor West.
Many of these centers are subsidized by DHHS and residents may be eligible to receive financial assistance
to pay for the cost of the child care. The Wilmington community offers several supportive services for its
residents. Among these services are the Boys and Girls Club, Community Arts Center, Department of Health
and Human Services (DHHS), The Employment Security Commission (ESC), Good Shepard Center, and
Wilmington Treatment Center. Services offered by these providers include aid for the homeless, mental
health services, drug and alcohol abuse treatment, recreational, educational, social, and employment
services. Other programs are the Wilmington Youth Center for Inspiration, Recreation and Education (WIRE)
and Communities In Schools of Cape Fear (CISCF). WIRE offers various programs including tutoring with
county school course credit, crisis intervention, medical attention, anger management, sports, and arts
programs. CISCF is dedicated to helping young people learn successfully, stay in school, and prepare for life
and offers a wide variety of programs. Transportation for NHC students is available to WIRE and CISCF via a
designated bus stop. In addition, CISCF offers free passes so students can get home free of charge via
public transportation. Other services in the vicinity include churches and the U.S. Post Office. The main
branch of the New Hanover County Library is less than one mile away. The Library offers various free
services including Wi-Fi internet access, meeting rooms, computer and credit counseling classes, toddler
story time, and tax preparation assistance. Northside Park is a five acre park within walking distance of the
site and includes playgrounds, shelters, picnic areas, and basketball courts. Northside Park also has a pool
with splash pad, a bathhouse, lifeguards, and is handicap accessible. Robert Strange Park is a fifteen acre
park located just over a mile from Taylor. Amenities include ball parks, basketball and tennis courts, pool,
recreation center, playground, shelters, restrooms and more. Greenfield Park surrounds Greenfield Lake and
is a 250 acre park with full amenities, including an amphitheater, paddle boats, and walking trails. Legion
Stadium has a community pool, tennis courts, picnic areas, and athletic fields. Both Greenfield Park and
Legion Stadium are just over two miles away. There are no large scale or industrial institutions or other
incompatible uses in the area that adversely affect the development. The nearby railway has been
abandoned and has no effect on Taylor West or the surrounding neighborhood. The traffic patterns in the
area are that of a downtown environment with controlled speed limits and traffic lights. The development is in
a mostly residential section of downtown and is not a thoroughfare for trucks or commercial vehicles. There
are no sources of excessive noise, pollution or other environmental concerns in this area.
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. Adequate traffic controls exist around the site to allow for steady traffic flow
in and around the site. All intersections directly surrounding the site are controlled by stop signs. The posted
speed limit is 25 mph and speed humps exist on Nixon Street between 4th and 6th Streets. Traffic signals
exist at the corner of 3rd Street and Davis Street and at Red Cross Street at 4th and 5th Streets. There are
no turn lanes into the development, however, traffic is such that those lanes are not necessary. The public
facilities, including roads and bridges, are not currently, nor are they expected to be, overburdened by the
addition of this development. The site has exceptional access to traffic corridors leading into and out of the
City of Wilmington, including the Isabel Holmes Bridge and Martin Luther King Jr. Parkway. One of the first
views upon entering the north side of the city will be this attractive community. With it’s appealing architecture
and urban design, it enhances the entrance to the City to both residents and tourists passing through the
area. Prominent signage is displayed at the entrance to the community that is visible from various traffic
corridors. Public transportation has routes throughout the City, including one stop directly across the street.
The schedule runs every thirty minutes and costs the rider anywhere from $.50 to $1.00. A free trolley service
circles the downtown area enabling residents to easily access all the conveniences of downtown without
having to walk long distances.
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).
No impediments or barriers currently exist on this property that negatively affect the residents. Sidewalks
surrounding the site and throughout downtown are available for pedestrian activity. Ample parking is
available, including handicapped on-site parking, on-street parking, and nearby parking garages provided
by the city.
For each applicable neighborhood feature, enter distance from project in miles.
Residents have a clear view of the magnificent fireworks displays put on by the City of Wilmington at
various times of the year, including July 4th, Riverfest, and the Azalea Festival. Parades are held through
downtown during the festivals and holiday times.
Public safety is nearby with the new Police headquarters located within two blocks and the Fire Station
headquarters less than a mile from the site.
Banking, legal, and other professional services are located within the downtown area, along with the
Chamber of Commerce and other small businesses frequented by the citizens of Wilmington.
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).