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HomeMy WebLinkAboutItem 10 Cornerstone Community Housing Funding RequestAGENDA ITEM SUMMARY Meeting Date: 5/1/2023 Meeting Type: Regular Meeting Staff Contact/Dept.: Erin Fifield / DPW Staff Phone No: 541-726-2302 Estimated Time: 5 Minutes SPRINGFIELD Council Goals: Encourage Economic CITY COUNCIL Development and Revitalization through Community Partnerships ITEM TITLE: CORNERSTONE COMMUNITY HOUSING FUNDING REQUEST ACTION 1. Approve/Not approve allocation of state general funds for Cornerstone REQUESTED: Community Housing's Springfield Apartments. [If Approve] 2. Authorize the City Manager to negotiate and execute all documents needed to give effect to the City's agreement with Cornerstone Community Housing for these funds. ISSUE Cornerstone Community Housing is developing 39 -units of affordable housing at STATEMENT: 16' and Q St in Springfield. Springfield City Council recently voted to support the award of HOME funds to this project. Cornerstone is pursuing additional funding for this project through the state's competitive "Small Project Notice of Funding Availability" process and is looking for additional local resources to fill in the development gap for this project and make the funding request more competitive at the state level. ATTACHMENTS: 1: Council Briefing Memo 2: Cornerstone Funding Request Memo 3: Cornerstone's 2022 application for HOME funding DISCUSSION/ Cornerstone is developing a $12 million new affordable housing development in FINANCIAL Springfield and is seeking permanent financing for the project. IMPACT: City Council previously supported the request of $2 million in HOME funds for this project. Cornerstone will be applying this summer for $6,750,000 from the Oregon Housing and Community Services, which would be the primarily source of funding for the project. However, they have identified a gap in funding of about $600,000. Cornerstone submitted a memo to the City in March, requesting any additional support with local funds toward the project. This additional support would help close their financing gap and allow them to be more competitive for state funding. City staff have identified a source of funding that could be awarded to this project: $565,000 in state general funds that were awarded to Springfield as part of Senate Bill 5561 (2021 2°a Special Session) to address housing insecurity, lack of affordable housing, or homelessness. Council previously awarded this funding toward Ebbert Methodist Church to install a fire suppression system in the church in exchange for a commitment to serve as a long-term Egan Warming site. That project did not move forward, and the funds remain to be re -allocated. MEMORANDUM City of Springfield Date: 5/1/2023 To: Nancy Newton COUNCIL From: Erin Fifield, Community Development Analyst BRIEFING Jeff Paschall, Community Development Division Director Subject: CORNERSTONE FUNDING REQUEST MEMORANDUM ISSUE: Cornerstone Community Housing is developing 39 -units of affordable housing at 16t' and Q St in Springfield. Springfield City Council recently voted to support the award of HOME funds to this project. Cornerstone is pursuing additional funding for this project through the state's competitive "Small Project Notice of Funding Availability" process, and is looking for additional local resources to help fill in the development gap for this project and make their funding request more competitive at the state level. COUNCIL GOALS/ MANDATE: Encourage Economic Development and Revitalization through Community Partnerships BACKGROUND: Cornerstone Community Housing's Springfield Apartments Project Cornerstone Community Housing (Cornerstone) is proposing to build 39 new units of affordable housing at 1875 16t` Street in Springfield: • Cornerstone currently owns the property and proposes to build one 2 -story building with elevators, a central courtyard, and covered walkways. • The development includes 10 studios, 23 one -bedrooms and 6 two-bedroom units. • The development would serve 8 households earning no more than 50% of area median income (AMI) and 31 households earning no more than 60% of AMI. • Cornerstone proposes to serve seniors and people with disabilities. • The pro forma includes keeping units affordable for 20 years, including the provision of residential services during that time. • The project is estimated to cost $12 million. $2 million in HOME funds awarded to the project The HOME Investment Partnership (HOME) Program is a federal program administered by the U.S. Department of Housing and Urban Development (HUD) to expand affordable housing opportunities for low-income persons. Since 1992, the cities of Eugene and Springfield have received the federal HOME funding allocation as a unified HOME Consortium, with a targeted percentage of funds to be awarded to each jurisdiction. Through the 2022 HOME Request for Proposals, the Consortium received one proposal for a project in Springfield. This proposal was from Cornerstone Community Housing (Cornerstone), a local certified Community Housing Development Organization (CHDO) under the HOME regulations. This application was reviewed by an Evaluation Committee which recommended the proposal for allocation. Attachment 1 Page 1 of 3 MEMORANDUM During the February 6, 2023 City Council Regular Session, Council approved the use of $2,054,013 in HOME funds for the project. The HOME Consortium Governing Board subsequently awarded those funds to the project. See Attachment 3 for Cornerstone's Springfield Apartments application for HOME funds. Page 2 Additional funding needed for the project In their HOME funding proposal, Cornerstone identified sources of funding for the project: Funding source Amount Oregon Housing and Community Services (OHCS) Small Project Notice of Funding Availability (NOFA) competitive grant: $ 6,750,000 Permanent Loan (Key Bank) $ 2,225,000 Eugene/Springfield HOME award $ 2,054,013 CDBG $ 640,000 Deferred Development Fee $ 358,840 TOTAL $ 12,028,853 In Cornerstone's March 20, 2023 (see Attachment 2) memo to the City, they identify the gap in funding. The OHCS NOFA is intended to be their primary source of funding for this project. Cornerstone states that the interest rate environmental has decreased their permanent loan capacity and increased the need for gap funding. Further, due to HUD rules, Cornerstone was awarded the maximum HOME funds it could borrow - $2,054,013. As stated in their memo, local gap funding of about $600,000 would help increase their chances to secure funding from OHCS. Local Funds available to award toward this project CDBG funds incompatible As Cornerstone stated in their memo, CDBG funds were determined incompatible with this project. While HUD designed the CDBG and HOME programs to work together, there are limitations to the activities that can be funded with each program. Most preferably, CDBG funds can be used to acquire land for an affordable housing development. In this case, however, Cornerstone had already purchased the property. State general funds available from the 20212 d Special Session The City was awarded $1,000,000 in general funds by the Oregon Legislature as part of Senate Bill 5561 (2021 2nd Special Session) to address housing insecurity, lack of affordable housing, or homelessness. In work sessions on February 14, 2022 and April 18, 2022 Council discussed potential projects to fund with these and other one-time funds received during the COVID pandemic. Council awarded funding to three projects: 1) Habitat for Humanity's Fischer Village Project creating new units for low-income homeownership; 2) Springfield Police Department procuring a back-up van for CAHOOTS to better ensure service reliability; and Attachment 1 Page 2 of 3 MEMORANDUM Page 3 3) Installing a fire suppression system at Ebbert Methodist Church in exchange for serving as a long-term Egan Warming site. Ebbert ultimately declined the award, and the funding remains to be re -allocated toward another project that meets the purpose of the Senate Bill. The Springfield Police Department is currently waiting on the van for CAHOOTS to be delivered, and will then need to receive an updated quote to upgrade the van. They estimate the total cost to be about $125,000. Staff estimate there is about $ 565,000 remaining to be re -allocated. Egan Warming Site—partnering with a religious organization still the best option Given Council's direction to originally use funding toward helping secure a long-term Egan Warming site, city staff reached out to staff at the Lane County Health and Human Services to help brainstorm how to secure a long-term site for Egan. Recognizing that there currently isn't long-term funding to support the operational costs to run a shelter, Lane County staff advised continued outreach with the religious community in order to temporarily use a site during the winter season. County staff have offered to help reach out to organizations in Springfield with the hopes of securing a site for Egan this winter. Question for Council Does Council support allocating the remaining state general funds it received to address the lack of affordable housing toward the Springfield Apartments project to address the funding gap? Next Steps If supportive If Council supports allocating the remaining funds toward the Springfield Apartments project, staff requests Council authorize the City Manager to negotiate and execute all documents needed to give effect to this award. Staff recommends waiting until all permanent financing has been secured before finalizing any agreement. If not supportive... If Council does not support allocating the remaining funds toward the Springfield Apartments project, staff requests direction on how Council would like to consider allocating the remaining $565,000 in state funding. RECOMMENDED ACTION: Staff recommend Council allocate the remaining state general funds toward the Cornerstone Community Housing Springfield Apartments project and authorize the City Manager to execute all documents needed to award the funds Attachment 1 Page 3 of 3 CORNERSTONE PO Box 11923 Eugene, OR 97440 Office: 541-683-1751 COMMUNITY HOUSING www.cornerstonecommunityhousing.org Cornerstone Affordable Housing — SDrinafield Apartments DATE: March 20, 2023 TO: City of Springfield ATTN: Erin Fifield FROM: Darcy Phillips, Executive Director, Cornerstone Community Housing CC: Ben Pray, Owner, Home First Development RE: Gap funding, Cornerstone Senior Housing Development Background Cornerstone Community Housing (CCH) is pursuing local funding to support the development of 39 -units of affordable housing in the North Springfield neighborhood. Our apartment community will serve low-income seniors through a mix of unit sizes ranging from studios to two-bedroom units, resident services, a community room, outdoor amenities and a central location. Our development has been awarded HOME funds, is utilizing a low-cost land loan from Oregon Housing and Community Services (OHCS) and has begun pre -development activities with our development consultant, Home First Development and project professionals. Our primary source of funding is intended to be the OHCS "Small Projects NOFA", which is awarded annually through a competitive process. We will apply for those funds this summer, having made substantial progress in pre -development activities, and hopefully having secured local resources to increase our chances for funding. If awarded, we would expect to break ground in summer of 2024 and complete construction in fall, 2025. Local Funding Our current proforma reflects approx. $640,000 in CDBG funding, a source of funds we have learned is not compatible with our development. CDBG is a form of "gap" funding, which can be filled by any combination of local resources that do not add cost. Our need for local gap funding is due to the following: • Local funding increases our chances of securing our primary sources of funds from OHCS • Local funding is needed to cover the delta between OHCS funds, HOME funds and the maximum we can borrow. Note that the interest rate environment decreases our permanent loan capacity and increases our need for gap funding. • Securing local funding provides CCH with confidence to deploy scarce resources on pre -development costs (architecture, reports, engineering, etc.) • Local funding supports our practical approach to development and helps to avoid the utilization of low-income housing tax credits (LIHTC), which is our strong preference in order to reduce overall project costs and to increase efficiency Cornerstone Community Housing is committed to M"V, tfZ R ola_Qfg4r people living on limited incomes and offering services that promote opportunities for personal growth and economic independence. d CORNERSTONE M� COMMUNITY HOUSING Utilization of Local Funding PO Box 11923 Eugene, OR 97440 Office: 541-683-1751 www.cornerstonecommunityhousing.org Our primary utilization of any local funding received would be to support pre -development soft costs, including but not limited to Architecture, Landscape Design, Civil Engineering, Structural Engineering, Consulting, Survey, Phase One Environmental, Geotechnical Reports, General Contractor Pre -Construction Contract, and other third -party reports required by lenders. Ideally, resources we secure would be available immediately to support project costs prior to closing. However, an award of funds that is available at project closing would also be extremely beneficial. Conclusion We understand that local resources are constrained, and we appreciate your consideration for an award of funds that helps us cover costs and increase our competitiveness OHCS funding this summer. We are intentionally designing a community that is one that residents, Cornerstone and the City of Springfield will be proud of for years to come. An allocation of approximately $600K would make a significant difference to the development and we welcome any follow-up questions to support our request. Sincerely, T) -L.4 t -r-11. - Darcy Phillips Executive Director Cornerstone Community Housing 541.683.1751 ext. 106 dphillips@cornerstonecommunityhousing.org Cornerstone Community Housing is committed to M�i1V, UZrRawh2aPor people living on limited incomes and offering services that promote opportunities for personal growth and economic independence. Eugene -Springfield Consortium 2022 HOME REQUEST FOR PROPOSALS CREATION OF NEW AFFORDABLE RENTAL HOUSING November 16, 2022 [EDOUTJH ELEVATION IIS EST ELEVATION U ®0 IIID 0® 0 r7 IrU]I E -A7 0 Springfield Apartments Submitted To: Eugene -Springfield Consortium Attn: Ellen Meyi-Galloway 99 W 1011 Avenue Eugene, Oregon 97401 Submitted By: Cornerstone Community Housing 1175 Charnelton Street Eugene, Oregon 97401 Attachment 3 Page 1 of 141 9 -AP OWN" SPRINGFIELD OREGON Eugene -Springfield Consortium City of Eugene 99 W. 10th Avenue Eugene, Oregon 97401 (541) 682-5443 (541) 682-5572 FAX www.eugene-or.gov APPLICATION FOR HOME FUNDS General Instructions Application Components: The Application for HOME funds has three parts, all of which must be submitted for an application to be reviewed: 1. Narrative Questions This WORD document contains the Narrative Questions portion of the application. The Narrative Questions are divided into Sections. For example, Section 1 is Project Summary. 2. Project Proforma & Other Forms The Project Proforma & other forms portion of the application are EXCEL documents. 3. Common Attachments The Table of Contents of this document lists the attachments that are required behind each section. Application Assembly: • Applications must include a completed and signed Table of Contents/Self-Certification. • Applications must include a completed Attachment B Project Compatibility with HOME Funding checklist. • The Attachment C and Attachment D Application requires 10 Sections as outlined in the Table of Contents. Materials should be organized in the following manner: o First, insert the responses to the narrative questions behind labeled section tabs for its corresponding Section o Second, insert relevant Forms o Third, insert required attachments labeled with the name of the Attachment. • Please print double -sided whenever possible. Submit Your Application by 12:00 pm (noon) Wednesday November 16, 2022. • Mail or deliver one (1) printed copy of the application to Ellen Meyi-Galloway at 99 W 10th Ave. Eugene, OR 97401(Current Atrium Building hours are weekdays noon — 4:00 PM.) Submit an electronic copy via email to emevi-galloway@eugene-or.gov 2022 Application for HOME Funds Page 1 of 5 Attachment 3 Page 2 of 141 HOME/Affordable Housing RFP Application Table of Contents/Self-Certification Checklist Attachment B Checklist ❑ Project Compatibility with HOME Funding Project Summary Section 1 ❑ Project Summary Attachments ❑ 1-1. Map showing project location, nearby facilities and distances Pro ject Description Section 2 ® Project Description Form 4 Attachments ® 2-2. Preliminary drawings and site plan Attachments ® 2-11. Photos of the site, buildings, and interiors of units (if existing units) ® 2-16. Documentation of Site Control ®2-19. Informational Notice to Seller (if acquisition project) ® 2-25. Documentation that proposed Project meets Zoning and Land Use laws ® Title Report (if available) Need &Populations Served Section 3 ® Need & Populations Served Rel ocation Section 4 ❑ Relocation Form 4 ❑ Relocation Budget Form 6 Attachments ❑ 4-3. Tenant Rosters (current and last 30 days) ❑ 4-11. General Information Notice issued to all current occupants ❑ 4-12. Self -certifications of Income for all current occupants ❑ 4-13. Draft Move -In Notice ❑ 4-14. Draft Intent to Vacate Notice Project Schedule Section 5 ® Project Schedule narrative Form 5 ® Project Schedule Development Budget Section 6 ❑ Development Budget narrative Form 6 ❑ Proforma Project Financing 2022 Application for HOME Funds Page 2 of 5 Attachment 3 Page 3 of 141 Section 7 ® Project Financing Attachments ❑ 7-1. Funding commitment or interest letters N/A ❑ 7-9. Systems Development Charge estimate calculation (if applicable) Project Operations Section 8 ® Operating Budget narrative Attachments ® 8-2. Documentation of utility allowance calculation Development Team Section 9 ® Project Team 10-12. Services funding commitment letters Form 9 ® Identity of Interest Matrix Attachments ® Development consultant agreement (if applicable) ® 9-6. Most recent audited financial statement and current year operating budget ® 9-12. Borrowing Resolution or ownership entity approval to borrow HOME Funds Services Section 10 ® Services Attachments ❑ 10-3. Memorandum of Understanding with Service Provider/ Referral Agency ❑ 10-12. Services funding commitment letters If any item listed above is not checked or is not applicable to your project, please reference the specific document and provide an explanation here: Section 4 Relocation — Relocation does not apply to our project. 7-1 Funding Commitment or Interest Letters — We do not have any funding commitments at this time. 10-3 MOU with Service Provider — Cornerstone will self -perform resident services for the Springfield Apartments. 10-12 Services Funding Commitment Letters — Not Applicable. Cornerstone will self -perform resident services for the Springfield Apartments. Self -Certification of Threshold Requirements I, Darcy Phillips, Executive Director of Cornerstone Community Housing acknowledge that I have completed the self -certified threshold checklist and that all the required documentation necessary to review this application has been included. 2022 Application for HOME Funds Page 3 of S Attachment 3 Page 4 of 141 SIGNATURE OF AUTHORIZED OFFICIAL Signature: Title: Executive Director Name: Darcy Phillips Date: 11/14/2022 Organization: Cornerstone Community Hou sing Project: Springfield Apartments Attachment B SUBMIT THIS FORM WITH YOUR APPLICATION: PROJECT COMPATIBILITY WITH HOME FUNDING As the applicant, it is your responsibility to know and understand the regulations and requirements of the funding source(s) you are applying for. The following questions will help you determine what local, state and federal requirements your project may be subject to. This is not exhaustive, and there may be other regulations or requirements pertaining to your project that are not covered in this questionnaire. Submit this form with your application. PROJECT TITLE: Springfield Apartments 1. Does your project meet application HOME income and rent limits? 2. Is your target population identified in the 2020 Consolidated Plan? 3. Do you have the capacity to maintain accurate income documentation and keep records and data current, as required by the HOME program? 4. Is the proposed project within the Eugene City Limits or Springfield City ® Yes ❑ No ® Yes ❑ No ® Yes ❑ No Limits? ® Yes 5. Does the proposed project meet the existing local zoning and land use laws? ® Yes (documentation must be included with application) 6. Do you have site control for the property? ® Yes 7. If your project includes using HOME funds for acquisition, has a Notice to Seller been issued to the seller? (copy must be included with application) ❑ Yes 8. If new construction, do your plans and specs include Section 504 and State Building Code requirements? (accessibility standards) ® Yes 9. If your project involves an existing building, is the existing structure less than 50 years old? ❑ Yes 10. Is the subject property vacant or occupied by the owner? If it is not vacant: ❑ No ❑ No ❑ No ❑ No ® n/a ❑ No ❑ n/a ❑ No ® n/a ® Yes ❑ No 2022 Application for HOME Funds Page 4 of 5 Attachment 3 Page 5 of 141 2022 Application for HOME Funds Page 5 of 5 Attachment 3 Page 6 of 141 Has a tenant Self -Certification been completed for each unit? ❑ Yes ❑ No ® n/a General Information Notices Sent to existing occupants? ❑ Yes ❑ No ® n/a (copies of notices with acknowledgement of receipt must be included with the HOME application) 11. If relocation will occur, either temporary or permanent, have adequate funds been set aside for this activity, and are they reflected in your application? ❑ Yes ❑ No ® n/a 12. If your project includes construction, is your project subject to federal Davis- ❑ Yes ® No ❑ n/a Bacon wage requirements? 13. Is your project located outside the 100 -year floodplain? ® Yes ❑ No 14. Is the project site free of any wetlands? ® Yes ❑ No 15. Is the project site free of any identified environmental contamination or ® Yes ❑ No hazards? 16. Does your project leverage at least 25% of total project cost in non-federal ❑ Yes ® No sources of funds? 17. Can you demonstrate a commitment of leveraged funds? ® Yes ❑ No 18. Does your project create/add additional units to the housing stock? ® Yes ❑ No 2022 Application for HOME Funds Page 5 of 5 Attachment 3 Page 6 of 141 1. Project Name and Location Project Name: Project Address: City and Zip Code: Project Map and Taxlot: Current Zoning: Census Tract and Block Group* Name of Ownership Entity: Total HOME award requested: SECTION 1 Project Summary Springfield Apartments 1875 16th Street Springfield, OR 97477 Taxlots 1800, 1900 & 2000 on map 17-03-25-24 R-2 41 039 002002 3005 Cornerstone Community Housing $2,054,013 *This information can be found from the US Census Bureau. Under the 'vintage' drop down menu, select Census 2010. 2. Applicant Information Metropolitan Affordable Housing Corporation dba Cornerstone Organization: Community Housing Project Contact Person: Darcy Phillips Phone: 541.683.1751 Fax: Email: dphillips@cornerstonecommunityhousing.org 3. Development Consultant (if applicable) Organization Name: Home First Development Consultant Name: Ben Pray Phone: 503-320-8929 Fax: Email: Ben@HFDpartners.com 4. Will the Development Consultant serve as the primary project contact? Yes ❑ No ❑ N/A ❑ 5. Development Organization/Applicant Type (check only one): ❑ Local Housing Authority ❑ Non-profit Community, Neighborhood, State or Regional Organization ® Community Housing Development Organization (CHDO) ❑ Other (please specify) 2022 Application for HOME Funds Section 1-1 Attachment 3 Page 7 of 141 6. Rental Project Activity Type (check all that apply): ❑ Acquisition ❑ Rehabilitation/Preservation of Existing Rental Housing ® New Construction ❑ Rehab or Adaptive Reuse of an Existing Building (not currently residential) ❑ Redevelopment ❑ Mobile Home Park Preservation ❑ HUD/USDA Preservation ❑ Expiring Tax Credit Property ❑ Mixed Use (please explain) ❑ Other (please specify) 7. Proposed Ownership Structure (check all that apply) ® Non-profit ❑ Limited Liability Corporation (LLC) ❑ Limited Liability Partnership (LLP) ❑ Limited Partnership (LP) ® CHDO ❑ Nonprofit Single Asset Entity ❑ Other Corporation ❑ Joint Venture ❑ Cooperative ❑ Other, Describe: 8. For Existing Housing Only (check one): ❑ Privately Owned ❑ Publicly Owned ❑ Owned by Applicant ❑ Other (please specify) 9. Total number of existing units: n/a Total number of units proposed: 39 Will there be a unit set aside for an on-site manager? Yes ❑ No ❑ Rental Assistance 10. Are any existing low-income housing units that are part of the project currently Yes ❑ No ❑ receiving rental assistance? 11. Do you have a commitment for rental assistance to housing units in the project? Yes ❑ No 2022 Application for HOME Funds Attachment 3 Page 8 of 141 Section 1-2 12. If yes to either, indicate the type of rental assistance: ❑ Section 8 Project Based Vouchers ❑ Section 8 Housing Choice Vouchers ❑ HUD 811/202 rental assistance contract ❑ Other (please specify) 13. Number of housing units receiving rental assistance: 14. Number of years remaining on rental assistance contract 15. Is the project currently required to restrict rents? a. If yes, what is the expiration date? Low Income Housing Tax Credits (LIHTC) 16. Does this project propose to use Low Income Housing Tax Credits? a. If yes, please select the LIHTC type below: ❑ 4% tax credit/bond project ❑ 9% competitive project Attachments Yes ❑ No ❑ Yes ❑ No ❑ ❑ 1-1. Map showing project location, nearby facilities (schools, bus stops, parks, etc.) and distances to those facilities 2022 Application for HOME Funds Attachment 3 Page 9 of 141 Section 1-3 Section 2 Project Description PROJECT CHARACTERISTICS Project Narrative 1. Please provide a brief narrative summary of the proposed project. Please describe: a. location in the community, existing conditions on the site, and plan for development. b. target population and income level that would be served expressed in percentage of area median income (AMI). c. market need/housing demand for the target population in the city and the neighborhood in which the project is proposed. d. The importance of an allocation of HOME funds to successfully implement your project. a) Location: The proposed 39 -unit affordable housing development is located in the North Springfield neighborhood. These apartments will provide a mix of studio, one -bedroom, and two-bedroom units for low-income seniors and individuals with disabilities. The development features a courtyard - style building with robust community space designed to promote security, foster community building, and complement existing neighborhood buildings. The proposed development is on a flat, grassy field with a single-family home located on a parcel near the north of the property that will be demolished before construction. Our current design envisions a 34 -space parking lot on the north of our site abutting a 39 -unit courtyard building with six two -bedrooms, 23 one -bedrooms, and ten studio units. An additional 14 parking spaces will be located immediately to the south of the building. We anticipate pulling permits and beginning construction in Spring/Early Summer 2024. The building plan includes an elevator for improved accessibility consistent with the needs of our expected residents. b) Target Population: Our target populations are seniors and individuals with disabilities. The development includes 8 "Low -Home" units (Studio), 3 "High -Home units (21311), and all remaining units affordable at 60% AMI. c) Market Need: As of May 2022, Cornerstone Community Housing has a waitlist of more than 1,900 individuals or families in need of affordable housing in the Eugene/Springfield metro area. The waitlist data shows extremely strong demand for smaller units (studio and one -bedroom) like the ones we propose in our Springfield Apartments development. A recent report from the housing advocacy group Oregon Housing Alliance showed that 11,825 affordable housing units are needed in Lane county to meet the affordable housing demand in the area. Additionally, one-third of renters in Lane County report paying more than 50% of their income in rent. These data points highlight the extreme need for more affordable housing units across all population groups in the Eugene/Springfield metro area, including seniors on fixed incomes and individuals with disabilities. d) Importance of an Allocation of HOME Funds: HOME funds are critical for the development of Springfield Apartments, given that OHCS Small Project NOFA funds and debt alone are insufficient to Attachment 3 Page 10 of 141 2022 Application for HOME Funds Section 2-1 fund the development. Additionally, HOME funds demonstrate local support for affordable housing development and will strengthen our OHCS Small Project NOFA application. Without local HOME funds, we are less likely to be funded by OHCS, which would create a funding gap that would jeopardize the feasibility of this development. Finally, HOME funds are critical given the historic interest rate inflation, which dramatically reduces our ability to borrow funds to support project costs. Total number of units: 39 Number of proposed HOME units: 11 Have HOME funds previously been awarded to this project? Yes ❑ No ❑ a. If yes, when does/did the affordability period end? n/a Has your organization previously received HOME funds through the City of Eugene or City of Springfield? Yes ® No ❑ Please explain what other public investments (if any) have been received or awarded to the project? Our proposed development has broad support throughout the community, and we anticipate multiple public investments will be awarded to this project solidifying local support. Oregon Housing and Community Services have supported the land acquisition through their Land Acquisition Revolving Loan Program, which has been critical to purchasing the proposed site. We anticipate being awarded HOME and CDBG grant funds from the city of Springfield, further solidifying local support for the proposed affordable housing development. In spring 2023, we plan on applying for funding from the OHCS Small Project NOFA to complete the funding needed to build the Springfield Apartments development. Upon a successful award from OHCS, we will have received funding support from both the local and state levels, ensuring broad support for developing affordable housing in Lane County. Finally, Cornerstone is committed to utilizing deferred developer fee as a project source and will invest significant resources in pre -development activities (approx. $400K). Project Design 2. Provide a detailed description of the proposed design, construction, rehabilitation, and/or other improvements. Include a description of how the design of the housing is suitable for and will meet the needs of targeted and Special Needs populations (if any). The project envisions a two-story, elevator -served garden -style building with a central courtyard and covered walkways. We will utilize wood frame construction built on reinforced concrete slab foundations. Each unit will include individual electric hot water, a washer/dryer combo, cove heaters, and air conditioning. Lighting will be a mix of switched outlets and LED fixtures. Interior walls and ceilings will be painted, and medium -textured finished on gypsum board. Metal entrance doors and hollow wood interior doors will be utilized. Windows are double -pane vinyl sliders. We anticipate secure entry to the building and common areas. All project units are ADA adaptable and designed to be modified at any time to meet the mobility needs of the resident. Four (4) units will be fully ADA accessible. Examples of accessibility features integrated into this development include but are not limited to: Attachment 3 Page 11 of 141 2022 Application for HOME Funds Section 2-2 • All doors are 36" to accommodate wheelchairs • ADA -accessible entrances and community spaces • Handrails and grab bars in -unit bathrooms • Non -slip flooring • D -shaped cabinet pulls • Levered -style door handles • Handheld showerheads • Shallow sinks • Bathrooms accommodate wheelchairs with an appropriate turning radius Given the unique needs of seniors and individuals with disabilities, it is essential to incorporate these accessibility features into the development of the Springfield Apartments. Our preliminary design includes robust community space and a leasing office for residents and property management. Future residents will have access to public transportation provided by the Lane Transit District steps from the proposed development site. In addition, covered exterior waiting areas are envisioned for residents that rely on ride -share programs. 3. Please describe any on-site amenities, including any site characteristics that address special needs of the population you intend to serve: The Springfield Apartments will feature a ground -floor community area with more than 400 square feet of space and a private office for program delivery and promoting community building. The design has also included a dedicated leasing office to enhance building operations, leasing, and maintenance. The building design features a secure central courtyard with more than 6,000 square feet of open green space for residents, their families, and visitors to enjoy. Additionally, as mentioned earlier, the building will feature many accessible features specifically designed to meet the unique needs of seniors aging in place and individuals will disabilities. 4. Please describe any unique design components or characteristics of the project. The Springfield Apartment has been intentionally designed to accommodate the unique needs of individuals with disabilities and seniors aging in place. By including numerous accessibility features in building specifications, we are able to ensure all units will be easily adaptable and meet the unique needs of all future residents. Specific design features and components include utilizing non -slip flooring, handrails and grab bars in -unit bathrooms, levered style door handles, handheld showerheads, shallow sinks, and more. Our courtyard building design also creates a safe, secure, and inviting interior courtyard which will help promote community building and provide a cozy gathering place for residents and their families or visitors. The courtyard also replaces the function of a backyard while providing all residents with easy access to an open space where residents can relax, eat, or socialize with their neighbors. Another benefit of the design is Attachment 3 Page 12 of 141 2022 Application for HOME Funds Section 2-3 it promotes natural light and encourages air moment throughout the building, which enhances livability year-round. 5. Does the project include components that contribute to improved energy performance, thermal comfort, a healthier indoor environment, increased durability and/or simplified maintenance requirements? Does the project meet any green building certification standards? The Springfield Apartments will comply with building standards that meet or exceed Earth Advantage Gold requirements. In addition, low -flow fixtures and a comprehensive LED lighting package will be utilized to increase the energy performance of the building further. As a result, utility bills for residents will be lower, and the overall carbon footprint of the building will be reduced. We will utilize low-VOC sealants, adhesives, and paint to ensure a healthier indoor environment. Our luxury vinyl plank flooring will be phthalate -free, and carpeting will not contain fluorinated stain -repellent treatments without fly ash in the backing. We will use drywall boards made with natural gypsum, and the project will utilize fiberglass batt insulation free of formaldehyde or formaldehyde -free mineral wool batts. We will prioritize minimized maintenance and operational costs with a focus on keeping moisture from infiltrating the building, keeping the building envelope adequately sealed to reduce loss of heat/minimizing the use of the heating system, and creating structurally sound construction that can withstand everything from an earthquake to day -day wear and tear. a. If planning to apply for Low Income Housing Tax Credits through Oregon Housing and Community Services (OHCS), which Sustainable Building Path will be integrated into the project design? ❑ Enterprise Green Communities ❑ Earth Advantage Homes ❑ Leadership in Energy and Environmental Design (LEED) ❑ Not Applicable (not applying for LIHTC) 6. Does the Project meet Section 504 (Rehabilitation Act of 1973) accessibility standards? For new construction and major rehabilitation projects with 5 or more units, 5% of units must be accessible to persons with physical disabilities and 2% additional units must be accessible to persons with sensory disabilities. For small projects or minor rehabilitation, accessibility improvements must be made to the maximum extent feasible. Please describe your plan for accessible units. Our proposed development exceeds a new construction project's best practices and accessibility standards. The Springfield Apartments are designed to include four (4) fully compliant ADA units (10%), with all remaining units being fully adaptable. 7. The HOME program now requires installation of broadband infrastructure in new construction or substantial rehabilitation projects with 4 or more units to narrow the "digital divide" in low-income communities. For more information click here. Please explain how the project will incorporate this infrastructure. Attachment 3 Page 13 of 141 2022 Application for HOME Funds Section 2-4 To bridge the digital divide in low-income communities, the Springfield Apartments will utilize the Comcast WiFi Ready Program, a solution where Comcast pre -installs Xfinity xFi Gateway modems providing up to Gig -speed wireless connectivity in each multi -family unit in a secure media panel. New residents moving into the Springfield Apartments will be able to connect to the internet within minutes of moving in. Additionally, free WiFi will be available to all residents in the common areas of the Springfield Apartments. Existing Structures 8. Does the site contain existing structures? Yes ® No ❑ a. If yes, how many? 1 9. What is to be done with on-site existing structures? ❑ Demolish ❑ Rehab ❑ Nothing (does not apply/not part of this project) 10. Please provide the following information for any on-site structures to be retained as part of this project: Approx. Total Sq. Footage n/a Number of Building(s) n/a Date Built n/a Number of Stories n/a 11. Please give a brief description of the condition of the buildings to be rehabilitated (Please provide photos if applicable): n/a Neighborhood/Off-Site Amenities 12. Briefly describe the property location, neighborhood, transportation options, local services and amenities adjacent to the property. Describe the location relative to schools, jobs, and parks. What makes this location suitable? (Please include these locations in the site map in Section 1.) This site provides an ideal location for Affordable Housing for seniors and individuals with disabilities. It is on a bus line, less than a half mile from Albertson's shopping center, and less than 1 mile from two other commercial centers and a Lane County Community Health Clinic. In addition, the county's largest medical facility and regional employer, PeaceHealth Hospital at RiverBend, is just 3 miles away. Residents have access to a myriad of recreational and social opportunities in Springfield. Willamalane Park and Recreation District boasts 47 parks and natural areas, 34 miles of hiking and biking trails, 5 recreational facilities, and a large selection of classes and programs for all ages and interests. The site is located 0.4 miles from Page Park and the EWEB bike and walking path to the north, which connects to the Rosa Parks Bike Corridor, and on to downtown Springfield, Dorris Ranch, and several riverfront parks and bikeways. WalkScore.com rates the site as "very bikeable" with a Bike Score of 82 out of 100. The site is in the catchment area for Yolanda Elementary School (1.3 miles), Briggs Middle School (1.2 miles), and Springfield High School (1.7 miles). Attachment 3 Page 14 of 141 2022 Application for HOME Funds Section 2-5 13. If planning to apply for Low -Income Housing Tax Credits (LIHTC), the project proposal should try to meet the State's Qualified Allocation Plan priorities. If planning to apply for 9% LIHTC, please calculate the location efficiencies of the proposed site (please skip if it is not applicable): a. Walk Score (https://www.walkscore.com/): 56 b. Proximity to the following (in number of miles): • Major grocery store: Albertson's (0.4 mi.) • Public transit stop: Lane County Transit Bus Stop (0.1 mi.) • Medical services: McKenzie Willamette Medical Center (1.5 mi.) • Public schools: Elizabeth Page Elementary School (0.9 mi.) Briggs Middle School (1.1 mi.) • Libraries: Springfield Public Library (2.0 mi.) • Parks and Public Space: Page Park (0.9 mi.) 14. If planning to apply for 9% Low -Income Housing Tax Credits (LIHTC), please describe how the site fits into a Vulnerable Gentrification Area or an Opportunity Area as defined by OHCS. (Please skip if it is not applicable): We intend to develop the project w/o LIHTC at this time, pending the award of HOME, CDBG, and Small Project NOFA funds from OHCS. Neighborhood Notification 15. The level of neighborhood notification appropriate for a project is based on the size and proposed use, but applicants are required to inform neighborhoods of the project. For Eugene project proposals including the 13th Avenue site*: Have you contacted the neighborhood and notified the City Councilor about your development proposal? n/a *The 131h Avenue site is in the Jefferson Westside Neighborhood (JWN) on the border of Far West neighborhood. JWN has demonstrated interest in the development of the site. Please contact the City neighborhood services staff and the JWN board chair listed on the City's website. Councilor Emily Semple is the Eugene City Councilor representing the ward for the 13th Avenue site. b. For Springfield and Eugene projects: How did you notify the adjacent property owners and the neighborhood about the project? Adjacent property owners and the neighborhood were informed about the proposed development via an informational mailer sent to all neighbors in the immediate vicinity of our development site. We plan on going neighborhood engagement to ensure compliance with all jurisdictional standards/best practices. In addition, we plan to host a neighborhood open house when the development begins the land use and building permit process. Attachment 3 Page 15 of 141 2022 Application for HOME Funds Section 2-6 c. Given the specific characteristics of your project, what will be done to encourage neighborhood support? Describe how surrounding neighbors will continue to be informed about the project. Identify concerns that neighbors have raised and strategies to mitigate those concerns. Cornerstone Community Housing (CCH) is committed to being a good neighbor through ongoing proactive communication and constructive dialogue with the residents and property owners in the immediate neighborhood. When concerns are presented to our development team, we will work diligently with neighbors to address concerns through constructive problem -solving. If necessary, CCH will consider entering into a Good Neighbor Agreement to outline a set of guidelines between our development and the neighborhood to set reasonable expectations and provide a path to address concerns when issues arise. As part of our design, we plan to incorporate ample site lighting to ensure resident and neighbor security. We plan to include Enough parking spaces for residents of the Springfield Apartments to ensure the neighborhood isn't suddenly facing a lack of street parking in the immediate vicinity of the proposed apartment building. Our property management company will have a qualified on-site property manager to ensure smooth building operations and will be available able to address issues and resident concerns in real-time as they come up. Cornerstone Community Housing will provide robust residents services to ensure all residents have the support they need to maintain safe and stable housing. SITE/PARCEL CHARACTERISTICS Site Control (Eugene proposals for the 13th Avenue property please skip to Question 23.) 16. Has site control been established? Yes ® No ❑ If the project is an acquisition, please ensure the project followed the Option Agreement guidance in the Reference Section. Please submit documentation of site control. 17. What is the form of site control? ❑ Deed (developer owned site) ❑ Conditional Contract ❑ Purchase Option ❑ Lease ❑ Lease Option ❑ City owned site ❑ Other: 18. Expiration date of option agreement or conditional contract: n/a 19. If the project involves acquisition, did you submit the Informational Notice to the Owner/Seller prior to submitting the option or conditional contract? Yes ® No ❑ N/A ❑ Please submit documentation of the Notice to Seller. 20. Are there any anticipated changes to the project's legal description? If yes, please describe. n/a 21. What is the square footage of the proposed project parcel? 53,578 Attachment 3 Page 16 of 141 2022 Application for HOME Funds Section 2-7 22. Is the proposed project site subject to any existing encumbrances Yes ❑ No such as a restrictive covenant, use restriction, or regulatory agreement? a. If so, how do you plan to mitigate the encumbrance? ❑ Quit -Claim Deed ❑ Subdivision of the Property ❑ Other: Zoning 23. What is the current zoning of the project site? R-2 24. For new construction proposals: has your project had a Project Consultation (Eugene) or Development Issues Meeting (DIM) (Springfield)? Yes ❑ No ® N/A ❑ 25. Is the proposed project consistent with the zoning status of the site? Yes ® No ❑ Please provide documentation that the projects meets local zoning and land use laws. a. If current zoning is not consistent, please explain: n/a b. Please outline the steps that will be taken to address zoning issues and include the time frame needed to resolve these issues: n/a c. Do you anticipate applying for any Adjustment Reviews (e.g. multi -family development standards, access connections, etc.) through the land use application process? Please outline the adjustments that would potentially be requested, if known. n/a 26. Is the proposed project consistent/compatible with surrounding uses? Yes ® No ❑ If yes, please describe how it is compatible with surrounding uses. The development site is zoned R-2 residential and features a courtyard -style building with robust community space designed to promote security, foster community building, and complement existing neighborhood residential buildings. 27. Do you plan to charge for residential parking separately from rent? Environmental 2022 Application for HOME Funds Attachment 3 Page 17 of 141 Yes ❑ No ❑ Section 2-8 28. Are there known adverse environmental conditions on the site? (These may include high level of noise, wetland, floodplain, leaking underground storage tank, above ground storage of toxic materials within sight, etc.) Yes ❑ No ❑ If yes, what are they and please describe how they can be mitigated though reasonable measures. n/a Historical Elements 29. Are any on-site structures subject to historical preservation requirements? Yes ❑ No ❑ a. Governing body/code: ❑ National Historic Register ❑ State Historic Preservation Office ❑ Other: b. Briefly state how you plan to comply with applicable historic preservation requirements: n/a Other Federal Regulations 30. For projects requesting $100,000 or more, what will you do to assure that employment and/or job training opportunities for low-income individuals are provided in the development of your project, per HUD Section 3 requirements? Click here for the HUD Section 3 website including FAQs. Cornerstone Community Housing (CCH) and Home First Development (HFD) highly value providing training opportunities for low-income individuals when opportunities exist on our development site. Therefore, CCH and HFD will work collaboratively with Rubitone Development Services (RDS), a BIPOC-owned consultancy, to ensure compliance with HUD Section 3 requirements. We will also select a general contractor who understands the importance of providing training opportunities for low-income individuals and is enthusiastic about including these opportunities as part of the development of the Springfield Apartments. 31. For projects requesting $10,000 or more, what steps will you take to hire businesses that are registered with the State of Oregon as Minority Business Enterprises (MBE) or Women's Business Enterprises (WBE) firms? Click here for HUD's guidance on MBE/WBE outreach. We will collaborate with the local community, the construction industry, and community development partners specializing in contractor and workforce development for BIPOC, women, and service -disabled Veterans. We will review our development project schedule with key partners to establish a timeline for key procurement/employment milestones and outreach activities. To date, our core values have served us well towards meeting or exceeding internal and external goals to maximize the use of Minority Business Enterprises (MBE), Women's Business Enterprises (WBE), and COBID Certified subcontractors and suppliers. Those values include: Attachment 3 Page 18 of 141 2022 Application for HOME Funds Section 2-9 -Design and implement a well-defined, transparent, and results -oriented contract award process. -Build a professional service and construction personnel pipeline that prioritizes hiring MBE, WBE, BIPOC, women, and service Veteran disabled community residents. -Provide a business -end employment climate where targeted firms and workers believe they can be successful. -Make investments in collaborative partnerships to achieve diversity, equity, and inclusion goals. The developers will contract with Rubitone Development Services (RDS), a BIPOC-owned consultancy, to develop, coordinate, and implement our diversity, equity, and inclusion plan. RDS will coordinate with development team members in finance and construction to expand and enhance public, non-profit, and private relationships. These relationships will increase awareness and improve our ability to successfully implement our diversity, equity, and inclusion participation strategy. Attachments 2-2. Preliminary drawings and site plan ® 2-11. Photos of the site, buildings, and interiors of units (if existing units) [� 2-16. Documentation of Site Control ® 2-19. Informational Notice to Seller (for acquisition projects) ® 2-25. Documentation that proposed Project meets Zoning and Land Use laws ® Title Report (if available) Attachment 3 Page 19 of 141 2022 Application for HOME Funds Section 2-10 SECTION 3 NEED & POPULATIONS SERVED Population Narrative 1. Describe the target population to be served. Please describe the demand for housing for this target population, and the supply of housing currently serving the population. We intend to serve seniors and individuals with disabilities at the proposed Springfield Apartments. As of May 2022, Cornerstone Community Housing has a waitlist of more than 1,900 individuals, seniors, or families in desperate need of affordable housing in the Eugene/Springfield metro area. The waitlist data shows extremely strong demand for smaller units (studio and one -bedroom) like the ones we propose in our Springfield Apartments development. Demand is incredibly high among older adults with fixed incomes seeking a safe and affordable place to live. In the Eugene/Springfield metro area, the rental housing market is highly competitive because of constrained housing supply and consistently high demand from University of Oregon students and faculty from the University of Oregon. As demand and rents rise, these market conditions place even more pressure on seniors and individuals with disabilities to find an affordable place to call home. Our proposed development is a direct response to these conditions and will meet an unmet need in the community of Springfield. Target Population Income Please indicate the targeted household income levels for the proposed development as a percentage of area median income (AMI): ❑ 0-30% AMI # of Units ❑ ® 31-50% AMI # of Units 0 ® 51-80% AM I # of Units 31 Special Needs 2. Will this project serve Special Needs populations? Yes ® No ❑ 3. Special Needs Populations to be served (Check all that apply). ❑ Homeless ❑ Families with children ❑ Seniors ❑ Ex -offenders ❑ People with HIV/AIDS ❑ Victims of Domestic Violence ❑ People with Drug and Alcohol Addictions ❑ People who are Evicted/Foreclosed ❑ People with Physical Disabilities ❑ People with Mental Disabilities ❑ Veterans ❑ Youth ❑ Young adults aging out of foster care ❑ Other Special Needs (please explain) Attachment 3 Page 20 of 141 2022 Application for HOME Funds Section 3-1 ❑ No Special Needs, General Low -Income Renters 4. Is your organization working with a referral service entity on this project? Yes ❑ No ❑ 5. State the name of the referral entity: Fn/a] 6. If a working arrangement with a referral service entity has not been established, briefly state why not. n/a Services 7. Will this project provide services? (e.g. Child Care, Case Management, Yes ® No ❑ Transportation) If yes, please describe further in the Services portion of this Application (Section 10) Community Priorities 8. Does this project meet the objectives of any of the local, state or federal plans listed below? (check all that apply) ❑ Consolidated Plan ❑ Housing Dispersal Policy ❑ Envision Eugene Plan ❑ Springfield 2030 Comprehensive Plan ❑ Area Plans (Land Use and/or Strategic Neighborhood Assessment & Planning Work Plan) ❑ Other: = 9. Please list the ways in which your project will meet the plan(s) checked. If none of the plans apply, describe how your project will fulfill a perceived need for affordable housing in the community. Be specific. Our proposed development will create 39 affordable housing units in Springfield for seniors and individuals with disabilities. This development will help address the need for affordable housing in the community and give seniors and individuals with disabilities a safe and affordable place to call home. The Springfield 2030 Comprehensive Plan specifically calls out the need "To provide for the housing needs of the citizens of the state." As the population continues to age, many more seniors living on fixed incomes will need an affordable place to live. The proposed Springfield Apartments seeks to provide an affordable housing option to these individuals. In addition, our proposed development has benefited from changes to the City of Springfield's residential land & housing policies called out in the Springfield 2030 Comprehensive Plan. Recent changes to density requirements in Springfield have made it possible for our development to include more affordable housing units than were previously allowed prior to housing policy changes discussed in the Springfield 2030 Comprehensive Plan. Attachment 3 Page 21 of 141 2022 Application for HOME Funds Section 3-2 SECTION 4 RELOCATION 1. Does this project involve the acquisition, demolition, or rehabilitation of Yes ❑ No any existing occupied structures? (if no, skip to Section 5) 2. If acquisition, have you included provisions in the Option Agreement that enable Yes ❑ No ❑ you to obtain tenantincome and rent information, and to give notices to existing and incoming tenants prior to closing? Please refer to the Relocation Guidance in the Reference Section. 3. Have you collected information on all current occupants of the property, including Yes ❑ No ❑ both residential and commercial tenants, and occupants with or without leases? 4. Was anyone made to move within the 90 days prior to the execution of the Yes ❑ No ❑ Option Agreement/Conditional Contract? 5. Please describe your tenant relocation plan. a. Describe how the plan minimizes displacement. Overwrite this text with your answer b. identify staff that will carry out relocation activities, and the strategy to help tenants to identify replacement housing and navigate the relocation process. Overwrite this text with your answer c. provide an estimated timeline for all relocation activities, including notification of tenants. Overwrite this text with your answer Type of Relocation 6. Enter the number of tenant households to be relocated: Residential: Permanently Temporarily None Commercial: Permanently Temporarily None 7. Explain the income verification process and the strategy for addressing any current residents who are not eligible to remain in the building. Overwrite this text with your answer 2022 Application for HOME Funds Section 4-1 Attachment 3 Page 22 of 141 8. What requirements or guidelines govern your relocation plan? (check all applicable) ❑ Uniform Relocation Act ❑ Section104 [d] ❑ Other (please specify): 9. Have you identified replacement or temporary units for those who will Yes ❑ No ❑ be displaced? 10. Have you calculated tenants' relocation benefits in preparation of a relocation Yes ❑ No ❑ budget? Relocation Notices 11. Have you provided General Information Notices to all occupants using the Yes ❑ No ❑ sample notices in HUD's Handbook 1378 on relocation (including both residential and commercial tenants, and occupants with or without leases)? 12. Have you collected tenant Income Self -Certifications from all occupants so that Yes ❑ No ❑ subsequent notices can be provided to tenants immediately upon entering into an Agreement for HOME funding? (i.e., Notice of Eligibility or Notice of Non -Displacement) 13. Is the applicant or property owner prepared to issue move -in notices to all new Yes ❑ No ❑ tenants that sign leases subsequent to this funding application? 14. Is the applicant or property owner prepared to issue Intent to Vacate forms to Yes ❑ No ❑ all tenants who move from the property subsequent to this funding application? Please complete the following Excel form in Attachment D and place in this section: ► Form 4, Relocation Budget Attachments ❑ 4-3. Tenant Rosters (current and last 30 days) U 4-11. General Information Notices issued to all current occupants ❑ 4-12. Self -certifications of Income for current occupants F-1 4-13. Drafts of Move -in Notices ❑ 4-14. Drafts of Intent to Vacate Notices 2022 Application for HOME Funds Section 4-2 Attachment 3 Page 23 of 141 SECTION 5 PROJECT SCHEDULE Project Schedule Narrative 1. Please provide a project schedule including the timing for a. Securing project financing, b. Forming legal ownership entities, c. Real estate closing, d. Relocation of existing residents (temporary and permanent), e. Construction commencement, f. Construction completion, g. Lease -up, etc. Please describe below how the timelines were determined. a. Securing project financing: Final grant award expected Fall, 2023; lender commitment shortly after following a review of term sheets b. Forming legal ownership entities: Legal counsel will be engaged in Fall, 2023 following award of final grant funds to incorporate SAE for the development c. Real estate closing: Completed via OHCS LAP program d. Relocation of existing residents (temporary and permanent) N/A e. Construction commencement: Planned for 3/1/2024 f. Construction completion: 15 -month construction (6/1/2025 completion) g. Lease -up: 10/units/month absorption, pending lease -up schedule from selected property manager (anticiapted to be Guardian Residential Services). Consultant Home First Development created our development timeline in consultation with Cornerstone staff, General Contractor, Architect, and informed by their extensive experience in funding and developing affordable housing across the state of Oregon. In addition, home First has compared the schedule against those in their pipeline for reasonableness. 2. Describe the plan for securing all financing and complete acquisition and/or start construction within 12 months from the date of the HOME award. The acquisition is already completed. Following a HOME award, Cornerstone will hire the complete consultant team to begin land use and permit drawings. We will submit building permits to the City of Springfield immediately upon notice of award from OHCS in Fall 2023, with a plan to pull permits and begin construction on or before 3/1/2024. 2022 Application for HOME Funds Attachment 3 Page 24 of 141 Section 5-1 3. Are there any known issues or circumstances that may delay the project? Yes ❑ No ❑ a. If yes, list issues below, including an outline of steps that will be taken and the time frame needed to resolve these issues: Delayed funding award approval or denial for HOME, CDBG, and OHCS is the primary circumstance that could delay the project. In order to submit the most competitive project possible to OHCS, we are seeking HOME/CDBG awards prior to the issuance of that NOFA and ensuring that our project complies with previous NOFA guidelines. Additionally, Cornerstone is committed to beginning land use and building permit work prior to achieving full funding, in order to reduce the time from final award to closing. While supply chain and material price escalation issues have been significant challenges in recent years, we are seeing reduced exposure in those areas and expect labor prices to remain flat or reduce due to high inflation/recession. We will continue to underwrite a 5% inflation contingency as well as a 10% hard cost contingency until permit drawings are priced by GC/subcontractors. Site issues appear minimal, given that the site is zoned appropriately, has utilities present, and has no evident environmental issues. Maintaining a deferred fee of 25% or below provides additional room for DDF should challenges arise during development. We are underwriting an interest rate of 6.25%, which takes in to account the current high -interest rate environment. A 7% vacancy rate has been adopted. Please complete the following Excel form in Attachment D and place in this section: ► Form 5, Project Schedule 2022 Application for HOME Funds Attachment 3 Page 25 of 141 Section 5-2 SECTION 6 DEVELOPMENT BUDGET Development Budget Narrative Please provide a thorough narrative description regarding the development budget. a. Please provide justifications of all costs and assumptions (specifically related to the Sources and Uses of Funds tabs in the pro forma, Attachment D). For example, who estimated construction costs, did City staff provide the Systems Development Charge estimate, how did you calculate the amount of private bank loan the project could support, etc. b. Please include an estimated $25,000 for City Project Delivery Costs in your budget. c. An appraisal of the 13th Avenue site has not yet been undertaken. A comparative market analysis (CMA) done by a local real estate broker showed a potential value range of between $600,000 and $1.2 million. For the acquisition costs in your proforma, please assume that the property will be transferred to the selected developer's ownership at no cost. Sources - Debt has been underwritten to a 1.2 DSCR. Should interest rates reduce, the project will maximize permanent financing with additional debt. The project may be able to UW to 1.15 DSCR depending on lender guidelines. HOME/CDBG underwritten based on funds available/RFP terms. OHCS Small Project NOFA funds are based on expected per-unit subsidy amounts. Expenses - based on feedback from PM Guardian and comparison against comparable project budgets and review by HFD Asset Management Director. 2% income/3% expense inflation adopted with $350/PUPY replacement reserve per OHCS guidelines. Income - 60% AMI + 3 "High HOME" + 8 "Low Home" units. 7% Vacancy. No additional income is underwritten. Anticipate a 3% increase in rent limits in 2023; will not UW until published by HUD. HUD utility allowance calculator used; results consistent with 3rd party analysis performed by energy modelling partner. Uses - All uses have been compared against other comparable project costs or secured from contractors/third parties. Current comparable HFD projects include a 34 -unit development in Salem, a 36 - unit development in Estacada, a 40 -unit development in Molala, and 60 -unit development in Corvallis. SDC fees and permit estimates are from City of Springfield staff. Acquisition Costs - actual costs of acquisition reflected Construction Costs - secured from General Contractor Ripple NW and compared against budgets from comparable HFD projects in construction or in their pipeline. Contingencies underwritten based on experience / best practices given time until groundbreaking. GC budget informed by prelim design and specifications. HFD is currently engaged with three (3) general contractors providing a solid base for 2022 Application for HOME Funds Attachment 3 Page 26 of 141 Section 6-1 comparison, re: general conditions, profit, Cost/SF, etc. A performance bond is not contemplated, given no LI HTC. Development Costs - secured from a professional team and/or compared against other HFD projects. Anticipate utilizing a local professional team (architect/engineer) and have secured proposals consistent with underwriting. Legal and accounting fees based on experience. Financing Costs - assuming that the project does not utilize LIHTC, simplifying the budget considerably. Loan fees are assumed to be 1.5%, could be reduced depending on the final lender selected. Reserves are calculated at six months of operating and six months of debt service. Describe any choices the development team has made related to long-term affordability and cost savings. The Springfield Apartments will comply with building standards that meet or exceed Earth Advantage Gold requirements. Low -flow fixtures and a comprehensive LED lighting package will be utilized to increase the energy performance of the building further. As a result, utility bills for residents will be lower, and the overall carbon footprint of the building will be reduced. Materials specified are durable and easy to replace at building turn, such as LVT flooring. 2. If your project includes construction, is your project subject to federal Yes ❑ No Davis -Bacon wage requirements? a. If no, explain why your project is exempt. Federal funds will not be utilized for construction; therefore, we are not subject to Federal Davis -Bacon wage requirements. b. If yes, are current Davis -Bacon wage rates reflected in your application? Yes ❑ No ❑ Please complete the following Excel form in Attachment D and place in this section: ► Form 6, Proforma (includes several tabs) 2022 Application for HOME Funds Attachment 3 Page 27 of 141 Section 6-2 SECTION 7 PROJECT FINANCING Financing 1. Please describe the project financing including any unique financing details or structures as they pertain to this project. Discuss the timing of obtaining other funding commitments prior to receiving a HOME award. Attach any letters of funding commitments already received. We anticipate the funding sources for the Springfield Apartments to include HOME funds, CDBG funds, an award from OHCS Small Project NOFA, a deferred developer fee, and permanent financing. We anticipate applying to the OHCS Small Project NOFA in Summer of 2023 and receiving an award in early Fall 2023. Land Acquisition has been facilitated through the Oregon Housing and Community Services Land Acquisition Program. The project does not anticipate utilizing LIHTC, resulting in a simplified capital stack and financing execution. HFD possesses significant experience accessing HOME, CDBG, and OHCS resources. 2. Please describe the current status of investor negotiations or other funding being pursued. Discuss the timing of obtaining funding commitments. We do not anticipate using LIHTC as a funding source at this time. However, we are in contact with several LIHTC investors that would be able to provide an LOI for this development if needed. 3. HOME funds requested: $2,054,013 4. Other resources (at least 25% of total development costs must be non-federal leverage): $9,974,840 5. Total Project cost: 1$12,028,8531 6. Do you plan to apply for the City of Eugene or City of Springfield Low Income Yes ® No ❑ Rental Housing Property Tax Exemption (LIRHPTE)? 7. Do you plan to apply for a City of Springfield CDBG Rehabilitation Loan? Yes ❑ No ❑ If yes, how much will you request? 8. Do you plan to apply for City of Eugene Systems Development Charge Exemptions? Yes ❑ No ❑ If yes, did you obtain an estimate of the SDC calculation from the Permit and Information Center (PIC)? Yes ❑ No How much is the estimate (if known)? 2022 Application for HOME Funds Attachment 3 Page 28 of 141 Section 7-1 9. Please describe the non-federal HOME Match that will be permanently contributed to the Project (please refer to the HOME Match guidance in the Reference Section.) The OHCS funds, when awarded, represent more than 50% of total costs, far exceeding the 25% requirement. Attachments ❑ 7-1. Funding commitment letters ❑ 7-9. Copy of the Systems Development Charge Estimate (if the project will apply for an SDC Exemption.) 2022 Application for HOME Funds Attachment 3 Page 29 of 141 Section 7-2 SECTION 8 PROJECT OPERATIONS Operations Narrative 1. Please provide a narrative description of the long-term operations (specifically related to the Income and Expenses tabs in your proforma). a. Please justify all costs and assumptions. Operating costs are informed by qualified third -party property manager Guardian Real Estate Services and HFD Asset Management Director Leah Halstead. Guardian is an industry leader in the field of property management and bases its operating expenses on actual costs and operating budgets of similar buildings across its management portfolio. Home First Development also reviewed the operating budget based on their experience as building owners and the actual expenses incurred by buildings with similar specifications. b. Describe why the rents were selected and why they are appropriate to the long-term viability of the project. Non -HOME rents are set at 60% of the Area Median Income (AMI) to offer affordability while complying with funder requirements and generating sufficient cash flow to cover debt service. c. Describe how the projected revenue was determined. Project revenue was determined based on affordable rent levels, utility allowances, operating expenses increasing at 3% annually, and income increasing at 2% annually. Based on the qualifications of our property manager and Home First Development's experience, our projected revenue is based on actual income and expense projections for similar buildings like our proposed development. 2. Projects can no longer use Utility Allowances from the Public Housing Authority (Homes for Good). They must be calculated using a particular methodology. Project specific methodology is based on actual utility usage at the property or project -specific factors such as size, orientation, building materials, mechanical systems, construction quality and local climate conditions. The acceptable methods include but are not limited to: the HUD Utility Schedule Model, Multi -family Housing Utility Analysis, Utility Company Estimate, LIHTC Agency Estimate, and Energy Consumption Model/Engineer Model. Developers must submit their Utility Allowance calculation to the Consortium annually for approval prior to entering into leases. More information is below. Please describe the method you used to calculate UAs and submit the documentation of your calculation. https://www.hudexchange.info/news/hud-utility-schedule-model-calculating utility-allowances-for- home-webcast/ Our development team calculated utility allowances based on the HUD Utility Schedule Model and have submitted documentation as part of our application. 2022 Application for HOME Funds Attachment 3 Page 30 of 141 Section 8-1 Attachment ® 8-2. Documentation of utility allowance calculation. 2022 Application for HOME Funds Attachment 3 Page 31 of 141 Section 8-2 SECTION 9 PROJECT TEAM Personnel List the names of key members of the organization's development team, their titles and their years of experience in affordable housing below. Name Title Years Experience in (e.g., executive director, project manager.) Affordable Housing Darcy Phillips Executive Director 8 Michelle Cady Chief Operations Officer 18 Kayla Haas Accounting Manager 2 Philip Farrington Board President & Director of Planning 11 & Real Estate Development with CDC Management Corp. Vicki Gray Board Vice President 6 Cornerstone Community Housing is a leading non-profit housing provider and HUD -certified Community Housing Development Organization (CHDO) in Lane County, Oregon, best known for building exceptionally high-quality housing and revitalizing communities. This year the organization celebrates a 30 -year commitment to building affordable housing communities and to providing support services designed for personal growth and economic independence. Cornerstone has developed 466 affordable rental homes and currently owns a portfolio of 336 units in Springfield and Eugene. Darcy Phillips, Executive Director - 8 years of AH experience Michelle Cady, Chief Operations Officer - 18 years of AH experience Kayla Haas, Accounting Manager - 2 years of AH experience Philip Farrington, Board President & Director of Planning & Real Estate Development with CDC Management Corp. - 11 years of AH experience Vicki Gray, Board Vice President - 6 years of AH experience Development consultant Home First Development is a highly experienced affordable housing developer, owner, and operator. The HFD team has decades of financing and construction experience, almost exclusively in the affordable housing development sector. As a result, the HFD development team comprehensively understands the development process in all aspects of a project, including project financing, construction management, and compliance. More detail about our development team experience is listed below. Financing: Benjamin Pray (Strategy/Execution) Ben is an owner of HFD with 20+ years of government, non- profit and private business experience managing complex loan programs, developments, and community engagement programming. Mike Boyer (Project Finance Application Manager) Mike has 10+ years in government relations and fundraising, managing successful grant applications and compliance for Home First Development, including LIFT, OHCS VGHAP, OHCS Mental Health Funds, Metro, PHB, OHCS Multifamily Energy Program, Meyer Memorial Trust, and more. Colleen Osborn (Due Diligence) Colleen has five years 2022 Application for HOME Funds Attachment 3 Page 32 of 141 Section 9-1 of experience in the real estate industry. Previously, she worked on various commercial developments, from business parks to multi -family projects across the Texas region. She joined Home First in Fall 2020 and oversees due diligence processes, communicating with lenders, investors, and project professionals. Construction: Rob Justus (Construction Director) Rob has overseen the construction of more than 900 units of affordable housing developed by Home First Development across Oregon and SW Washington. Alex Reff (Construction Manager) Alex is a construction manager with more than 12 years of industry experience in large-scale developments. He has served as project manager for developments that include the Intel Campus in Hillsboro, OR, the City of Bend Surface Water Improvement Facilities, Laika Entertainment Expansion, and new buildings at the Nike World Headquarters Campus in Beaverton, OR. Alex will manage future development construction for Home First, adding additional capacity and extensive expertise to our development team. Tony Jones (MWESB Manager) Tony manages MWESB coordination for all Home First Development projects. He has more than 20 years of expertise as the former executive director of Metropolitan Contractor Improvement Partnership (MCIP), a business support and training organization for minority and disadvantaged contractors. Tony consistently helps support our general contractors to meet or exceed MWESB participation goals. Compliance & Accounting: Will Harris (Chief Operating Officer) Will has more than 25 years of non-profit experience growing organizations and managing multi-million dollar budgets and compliance requirements. His expertise includes helping homeless individuals transition off the street into permanent housing. Organizational History 2. Has the organization developed affordable housing projects previously? Yes ® No ❑ 3. Please describe the organization's experience with this type of housing development. Cornerstone Community Housing is a leading non-profit housing provider and HUD -certified Community Housing Development Organization (CHDO) in Lane County, Oregon, best known for building exceptionally high-quality housing and revitalizing communities. This year the organization celebrates a 30 -year commitment to building affordable housing communities and providing support services designed for personal growth and economic independence. Cornerstone has developed 466 affordable rental homes and currently owns a portfolio of 336 units in Springfield and Eugene. Cornerstone is working with development consultant Home First to provide additional expertise and experience in developing this type of housing. Home First Development has extensive experience completing and managing a wide range of affordable housing developments similar to the building proposed across the state of Oregon and SW Washington. Home First Development will manage every aspect of the development process for the Springfield Apartments. Home First Development has been a lead construction manager/owner's representative for the development of more than 900 completed units across Oregon and SW Washington. Home First currently manages 549 additional units under construction across eight sites, with 330 additional units planned for groundbreaking in 2023 at seven sites across Oregon. HFD has secured and/or deployed more than $114,000,000 in competitive funding for affordable housing developments in Oregon and has overseen development budgets of more than $330,000,000 since 2010. 2022 Application for HOME Funds Attachment 3 Page 33 of 141 section 9-2 4. Has the organization done similar projects to that for which you are seeking funds for through this application: a. Number of similar projects completed: 10+ Projects b. Please describe the similar projects completed: Home First Development (HFD) has completed multiple projects across the state similar to the proposed development. Recently, Home First completed a 35 -unit development for formerly homeless Veterans in Portland. In 2019, HFD completed a 16 -unit two-story walkup in St. Helens, Oregon. These developments are similar in design and specifications to the proposed Springfield Apartments. By utilizing consistent design and specifications across HFD's development portfolio, we can create efficiencies throughout the development team and general contractor. These efficiencies ensure the project team is familiar with the design and simplifies the development process. Additional comparable projects (scale or capital stack) include: West Ridge Apartments - 20 Units - Burns, OR - 2020 Completion YMCA Apartments - 34 units - Salem, OR - 2023 Completion Portsmouth Commons - 20 units - Portland, OR - 2022 Completion Estacada Apartments - 36 units - Estacada, OR - 2024 Completion The Willet Apartments - 42 units - Tillamook, OR - 2023 Completion Belong Community Apartments - 16 units - Portland, OR 2022 Completion c. Please describe current projects underway and their status. How will you manage additional projects? Cornerstone has one other project underway: a small-scale rehabilitation project at WestTown on 8th, a 102 -unit Affordable Housing development in downtown Eugene. The organization received a grant from OHCS for new siding, exterior paint, a new HVAC system, and a new 6 -stop elevator. Construction is scheduled to begin in April 2023. We expect this project to be complete before we begin construction on the Springfield Apartments development. With support from Home First Development Partners, there will be adequate capacity for our team to manage both projects effectively. 5. Number Units Placed in Service: 900+ Units 6. When did the organization last have an audit or a comprehensive review of its financial statements? (Please submit recent financial statements.) 2021 a. Were there any findings or concerns about financials? b. If Yes, please describe the findings or concerns about financials. n/a Yes ❑ No 2022 Application for HOME Funds Attachment 3 Page 34 of 141 Section 9-3 c. Have these findings or identified concerns been resolved? Yes ❑ No ❑ d. If not, what is your plan for resolution? n/a 7. Is the Sponsor organization currently engaged in any project workouts? Yes ❑ No ❑ a. If yes, please list any projects in workout, and provide a brief summary of the reason for the workout status. Project Name Reason for Workout 1. 2. 3. Ownership Entity 8. What is the legal status of the Ownership Entity for the project? ❑ Currently Exists ❑ To Be Formed prior to receiving a HOME award. Estimated formation date 1/1/2023 9. Ownership Entity Information Name: To Be Formed Prior to Receiving HOME Award. Address: City: State: Phone: E-mail: Fax: Federal Identification Number: Zip Code: 10. Individuals/Organizations that Comprise the Ownership Entity (if known at time of application): Name Address Phone Entity Type Federal ID # % Ownership 11. Is the relationship between the ownership entity and organization expected to change over time? Yes ❑ No ❑ 2022 Application for HOME Funds Attachment 3 Page 35 of 141 Section 9-4 a. How will the relationship change? n/a 12. Did the ownership entity approve the plan to apply for and borrow HOME funds Yes ® No ❑ for the purpose of the proposed project? (Please submit the borrowing resolution or other documentation.) Property Management 13. Briefly summarize the management plan for this project. Be sure to address facility maintenance, on- site management, and services provided: Guardian provides the highest level of sophistication, experience, and value in the multi -family industry. A comprehensive management plan will be developed for the Springfield Apartments to ensure the development is managed and maintained to preserve the asset for years to come. Recurring maintenance on building systems and common areas will be tracked though property management software. A capital needs assessment will be conducted each year to ensure maintenance issues are being addressed in a timely manner. All building systems and components will be inspected on a regular basis and reports will be provided to management, and repairs will be scheduled. An on-site property manager will handle day-to- day operations, including rent collection, maintenance requests, and applications. The on-site property manager will be responsible for reporting issues and concerns on a daily basis. Resident services will be provided by Cornerstone Community Housing and may include Community Building, Visiting Programs, Energy Assistance Programs, On -Site Fitness Programs, Game Nights, and various Community and Cultural Celebrations. 14. Explain your marketing strategy and the tenant selection process, including the establishment and management of the waiting list. Guardian Management is an Equal Housing Opportunity provider and seeks to process all applicants in a fair and consistent manner. Guardian will develop a comprehensive tenant selection plan for the Springfield Apartments that will include establishing and managing the waiting list. For example, Guardian will maintain a waiting list of all eligible applicants. Applicants must be placed on the waiting list and selected from the waiting list even in situations where there are vacancies, and the applications are processed upon receipt. This procedure is necessary to ensure the complete and accurate processing of all documentation for all applicants. The waiting list is maintained in chronological order based on the date and time of receipt of the Pre - Application. The list will contain information for each applicant, including application date, name, house hold income, family size, address, contact information, preference/priority, unit size/type, notification dates, response dates, etc. An example tenant selection plan is available upon request. 2022 Application for HOME Funds Attachment 3 Page 36 of 141 Section 9-5 15. Describe your organization's experience with income verification including information collected, required documentation, and third party verifications. Guardian Management is highly experienced with preforming income verifications and the associated documentation and third -party verifications related to the process. Verifications will be performed as required, and recertifications of income, medical expenses, bank accounts, and assets will be completed to do an accurate rent calculation according to standard procedures and best practices. 16. Discuss the management agency's ability to efficiently maintain additional properties and assets. Guardian Management currently oversees 127 assets. With seven regional portfolio managers and five area managers, Guardian has sufficient capacity to oversee additional properties. With over 40 years of experience and the Northwest's leading property management and real estate development firm, Guardian is able to attract new managers as we add additional properties to the portfolio, ensuring our clients receive high-quality customer service, maximize property performance, and create value for owners. 17. Will management be provided on site? Yes ® No ❑ If yes, form of management: ❑ Resident Manager(s) - Number of units: ® Management office (Business Hours Only) ❑ Management office (24 hr) ❑ Other, Describe: 0 b. If no, describe your service area and how this project fits within your organization's capacity. n/a 18. List the names of key property management staff, their titles and their years of experience in affordable housing. Name Title (e.g., project manager, intake staff) Years Experience in Affordable Housing TBD On-site Property Manager 5+ TBD Regional Property Manager 10+ TBD Portfolio Manager 10+ Fair Housing and Cultural Competency 19. Explain how your organization and property management staff stay educated about fair housing issues? Guardian provides Affirmative Fair Housing Marketing Plan and Fair Housing Act training internally through the corporate office and online training through Guardian University. Guardian conducts training at least once annually and on an as -needed basis. In addition, staff are periodically assessed for competency on the 2022 Application for HOME Funds Attachment 3 Page 37 of 141 Section 9-6 use of AFHMP and the application of the Fair Housing Act by Portfolio Manager reviews and assessment of staff skills quarterly. 20. Please describe your plan for marketing and outreach to publicize the availability of new housing opportunities created by the project to Black, Indigenous and People of Color (BIPOC) communities and residents, and how you will affirmatively further fair housing for all protected classes. Partnerships are essential for effective outreach Cornerstone and Guardian have a strong history of working collaboratively with community partners to ensure our marketing and outreach plans are designed to include specific strategies to reach BIPOC (Black, Indigenous, and People of Color) communities. Our overarching goal is to ensure that we break down barriers like language and transportation by bringing information about housing opportunities directly to BIPOC communities through existing partners and networks. Locally, one of Cornerstone's strongest partnerships in helping us achieve these goals is with Centro Latino Americano (Centro). Centro's mission is to empower Latino families, providing opportunities and generating connections to strengthen our community. Working together with Centro, we develop a plan to best reach the communities they serve through their programs to publicize upcoming housing opportunities. We begin marketing efforts using social media and other strategies far in advance, so people have plenty of time to plan and be prepared with the correct paperwork. Marketing materials and application forms are made readily available in many languages. Direct outreach is conducted at Centro programs and events where their clients already come for services. Tabling at the monthly food program allows us to directly reach an estimated 100 households, hand out flyers, answer questions, and provide ongoing support for completing the application and paperwork process. Beyond partnerships with existing community partners, we also develop a marketing plan that includes direct outreach to BIPOC communities by meeting them where they are in their existing networks and neighborhoods. This includes churches, social media networks, neighborhood grocery stores, and other community groups representing BIPOC households. Combined, these efforts help ensure housing opportunities are more welcoming and accessible for historically marginalized communities. Marketing plan Guardian property management and Cornerstone asset management staff will tailor an Affirmative Fair Housing Marketing Plan specific to this development, consulting with community contacts to identify marketing strategies to reach under -represented groups. Cornerstone and Guardian are committed to improving the evaluation of Fair Housing programs and policies. Marketing efforts shall target those households least likely to apply. The success of marketing outreach will be evaluated by comparing resident and wait list demographics to regional demographics for households with similar incomes. Combined, these efforts go further than just the minimum requirements of HUD and Fair Housing Law to reach the goal of ensuring equity in marketing and lease -up practices. 2022 Application for HOME Funds Attachment 3 Page 38 of 141 Section 9-7 21. Describe how your organization/ ownership entity ensures that property management staff provides culturally competent services in working with protected classes. Cornerstone works to ensure the demographics of staff, board, and volunteers represent the communities we serve. We ensure resident leadership on our Board of Directors by reserving one-third of our seats for residents of our properties and residents of HUD low and moderate -income areas. Cornerstone's Diversity, Equity, and Inclusion (DEI) Steering Committee has met bi-monthly to lead the implementation of various DEI initiatives including but not limited to training, human resources policy and investments, and utilization of an equity lens tool to operationalize equity across departments and programs. Cornerstone is committed to providing DEI training for staff and making those trainings available to non - staff property managers to ensure that equitable practices are applied at every property in our portfolio and in all resident interactions. In addition, staff regularly participate in the Lane Equity Coalition events to broaden our knowledge and learn more from the variety of topics they cover. 22. Please describe how your organization/project team/ property management staff is working to broaden staff and board diversity and knowledge around cultural competency. The entire development team is deeply committed to broadening staff and board diversity and knowledge surrounding cultural competency. This commitment is reinforced with staffing, vendor selection, and plans and policies which are built upon Equity and Diversity and include culturally responsive and specific services. Annual trainings will be provided to ensure we are working to increase awareness and understanding around cultural competency. Attachments ® Development consultant agreement (if applicable) ® 9-6. Most recent audited financial statement and current year operating budget OR if an entity does not have an audit, please submit two years of tax returns and an annual operating budget for the entity. ® 9-12. Borrowing Resolution or ownership entity approval to borrow HOME Funds Please complete the following Excel form in Attachment D and place in this section: ► Form 9, Identity of Interest Matrix 2022 Application for HOME Funds Attachment 3 Page 39 of 141 section 9-8 SECTION 10 SERVICES Services Plan 1. Describe the services to be provided at the development. Our proposed development is intended for seniors and individuals with disabilities, and our residents services plan will reflect the unique needs of these populations. Cornerstone Community Housing (CCH) administers resident services programs that revolve around several primary categories, including Food & Nutrition, Community Building, Economic Stability, and Heath & Wellness. CCH intends to facilitate on-site residents services at the Springfield Apartments with programs that may include encouraging community building, volunteer opportunities, family visiting programs, personal finance, budgeting, and tax preparation services, low -impact fitness classes, community game nights, and community holiday celebrations. Additionally, residents will be connected or referred to additional services on a case-by- case basis depending on each resident's needs or interests. 2. Describe your case management or services model and how it leads to housing stability and self- sufficiency for the client. Cornerstone Community Housing (CCH) is an experienced affordable housing developer and resident services provider. We work with owners and State housing agencies to design and write State approved resident services plans and provide our award-winning Healthy Homes program in five counties across Oregon. We are trained to work with a range of funding and affordable housing types, including Section 8, project -based, affordable, and Low -Income Housing Tax credit programs. Home is the foundation for families to thrive. We are passionate about creating communities that promote stability. In every setting, the needs of families are at the center. From the layout of our homes to common spaces like playgrounds and safety features that promote quality of life. We are creating vibrant communities that bring people together by building opportunities for families to have a hopeful future. When families have a stable home, they can concentrate on other vital aspects of their life. We believe deeply in empowering families to experience their best lives. Building on the foundation of housing, we're linking resources for self-improvement to residents. Cooking classes for adults and youth, coaching individuals on managing illnesses like diabetes, teaching monthly budgeting, and homework club for kids, unlock possibilities for a bright future in our community. Through this model of creating housing stability and providing easily accessible resident services to all residents, we can achieve a positive impact in the lives of our clients that ultimately lead to self- sufficiency and a better quality of life for the individuals we serve. 3. If in Section 3, you indicated that your organization is working with a referral agency or service provider, describe their focus and service areas: n/a 2022 Application for HOME Funds Attachment 3 Page 40 of 141 Section 10-1 4. If in Section 3, you indicated that your organization is NOT working with a referral agency, describe how individuals and families will find out about your program: Since 1992, Cornerstone Community Housing has developed deep roots within the community and strong partnerships with community organizations. As an established housing and services provider, we will work with our colleagues and partner organizations to ensure individuals are aware of our development and associated services. We will also implement a comprehensive outreach and marketing plan to ensure the population we intend to serve knows about the affordable housing opportunities available at Springfield Apartments. People experiencing Homelessness 5. Will this project serve individuals and/or families experiencing homelessness? Yes ❑ No If no, skip to Question 10-9. 6. If your organization intends to serve individuals and families experiencing homelessness, indicate your expected client source (check all that apply): ❑ Streets ❑ Shelters ❑ Hospitals ❑ Jails ❑ Other (please explain) 7. Specify any imposed time limit on tenancy (i.e. up to 24 months for transitional housing). Months 8. Explain how time-limited households will transition into permanent housing. n/a Service Provider Agencies 9. If services will be provided by another agency, provide the name of the organization that will provide the services, the roles and responsibilities of the agency, and who will be the lead. Service Provider Role/ Responsibility Lead at Service Provider Cornerstone Community Housing Resident Services Provider Lead 10. Describe the service provider's experience as it relates to working with the proposed population. 2022 Application for HOME Funds Attachment 3 Page 41 of 141 section 10-2 Since 1992 Cornerstone Community Housing (CCH) has been committed to building quality, affordable housing for people living on limited incomes while offering services that promote opportunities for personal growth and economic independence. CCH has extensive experience working with individuals from all backgrounds and population groups. Through our tailored programs and services for the affordable housing communities we serve, residents are provided with the services most important and relative to them. CCH's works with seniors and individuals with disabilities daily through programs like Extra Helping, which provides food assistance throughout each month via delivery of food boxes to the doorsteps of individuals in need. Cornerstone Community Housing has a long track record of serving the most vulnerable individuals in our communities through a variety of resident services programs. 11. Briefly describe how this project fits the service provider's mission. The development of the Springfield Apartments perfectly fits Cornerstone Community Housing's mission which is: "Since 1992, Cornerstone Community Housing has been committed to building quality, affordable housing for people living on limited incomes while offering services that promote opportunities for personal growth and economic independence." This development will provide quality affordable housing to seniors living on a limited income and promote opportunities for personal growth and economic independence through tailored resident services programs available to all residents. 12. Describe how coordination of services will be handled, and whether the service provider will contribute program funding to the development. (Attach services funding commitment letters if applicable). Cornerstone Community Housing will provide coordinate and delivery of all resident services programs to the residents of the Springfield Apartments at no charge to residents. 13. What are the proposed staffing levels (case manager to household ratio)? rcase managers to 39 households Cultural Competency 14. Explain how the service provider organization will provide culturally competent services that meet the needs of the proposed population. We anticipate the primary population in this community will include households from a wide variety of cultures and backgrounds. Having a well-established resident services program at this site will create a strong sense of community and support household stability for the residents who call this community home. On-site programs such as free food boxes and support with rent and utility assistance will help meet the basic needs and housing stability for many households with little to spare and the end of each month to make ends meet. Seniors or people with disabilities also need a solid connection to social support and opportunities for social cohesion. Events like BINGO or community gardens give residents the opportunity to meet their neighbors and build a stronger sense of community safety. 2022 Application for HOME Funds Attachment 3 Page 42 of 141 Section 10-3 Through monthly newsletters, programs are expanded to promote BIPOC organizations, events, and opportunities to residents. We translate newsletters and flyers into Spanish and collaborate with our partners, such as NAACP and Centro Latino Americano, to lend out community centers for their outreach and events throughout the year. We have several bi-lingual staff, which increases our ability to connect with and offer services to Latinx populations. Our program model also includes integrating Peer Support Specialists, certified by the Oregon Health Authority, to use their lived experience as part of the programs we deliver. 15. Describe how the service provider's staff and board reflect the population that will be served, and how your organization is working to broaden staff and board diversity and knowledge around cultural competency. In recent years, Cornerstone advanced our commitment to Diversity, Equity, and Inclusion (DEI) by integrating DEI goals into our strategic plan, developing a DEI Statement, and advancing programs and partnerships in an intentional way. Cornerstone staff and board members represent a wide variety of cultures from diverse backgrounds and regularly participate in local, regional, and statewide training with topics related to Diversity, Equity, and Inclusion. As a Community Housing Development Organization (CHDO), Cornerstone works to engage residents in our decision-making processes by requiring that one- third of our Board of Directors is set aside for people living on low incomes or in low-income neighborhoods to help ensure representation at decision-making tables. Cornerstone's model of encouraging resident feedback to drive programming and focus on collaborating with culturally specific service agencies is crucial to providing culturally adaptive services. Attachments ❑10-3. Memorandum of Understanding with Service Provider/Referral Agency ❑ 10-12. Services funding commitment letters 2022 Application for HOME Funds Attachment 3 Page 43 of 141 Section 10-4 Attachment 1-1 Map Showing Project Location, Nearby Facilities and Distances Attachment 3 Page 44 of 141 Springfield Apartments Map Springfield Apartments Alberills ons Winco Foods } Bus Stop • Page Parrs Elizabeth Page Elementary School Briggs Middle School '} McKenzie -Willamette Medical Center Department of Human Services Willamalane Park Swim Center Springfield Public Library 0.9 mi 1.1 mi 1.5 mi 2.5 mi 1.3 mi 2.0 mi � ¢lt0 Sl Hayden Bridge Rd OTLU st SI Lbch f ernf L St Larnornd AYC 92ambiln4Ilr 5 Firth Ave VI N Bonnie 1.n S st Ialarcola Rd y C iT - ,� Ouina:t St �x Pietlmo4t51. v 'NeasantslTI y Olympic Sr ''A , alymPtic SL b S4' Scorl Rd M $I M St I ry ro ° L SI L Et lllentenrflal%vi� Centennial Sled An Parkes ..t r - ii n J Sr at N EF j f�t u ,n hTodoc St a N St IS, n M FS!� FSt 0looms ESQ ESI I ■ ❑s I■ C St ID SI BSIE e ■Attachment 3 Page 45 of VlAis, s _ s L. l 7D'mm,b j1 eTV� m6Np- s glib z n Ir,rirrg Slough Q L, P:crcL flkwy 4 MarCola Rd Z w RST Fr 44ia Lan4 N Centennial Blvd aSL N N ao s � N E St D St n Z en Rltidr Knq��aY N •" '••"" N N� r C Check St Distance 0.0 mi B"dge Rd Hayden Li ridge Rd a St td o d 0.4 mi �'} N 0.8 mi ' s� J � atirnsrdge L pvo ' t�k�gmne Ln 0.1 mi 0.9 mi � SI ss; r Ss ss 0.9 mi 1.1 mi 1.5 mi 2.5 mi 1.3 mi 2.0 mi � ¢lt0 Sl Hayden Bridge Rd OTLU st SI Lbch f ernf L St Larnornd AYC 92ambiln4Ilr 5 Firth Ave VI N Bonnie 1.n S st Ialarcola Rd y C iT - ,� Ouina:t St �x Pietlmo4t51. v 'NeasantslTI y Olympic Sr ''A , alymPtic SL b S4' Scorl Rd M $I M St I ry ro ° L SI L Et lllentenrflal%vi� Centennial Sled An Parkes ..t r - ii n J Sr at N EF j f�t u ,n hTodoc St a N St IS, n M FS!� FSt 0looms ESQ ESI I ■ ❑s I■ C St ID SI BSIE e ■Attachment 3 Page 45 of VlAis, s _ s L. l 7D'mm,b j1 eTV� m6Np- s glib z n Ir,rirrg Slough Q L, P:crcL flkwy 4 MarCola Rd Z w RST Fr 44ia Lan4 N Centennial Blvd aSL N N ao s � N E St D St n Z IIL� N CSI N N� (Ti O '31 Main St 34Th Si Attachment 2-2 Preliminary Drawings and Site Plan Attachment 3 Page 46 of 141 SITE PLAN 111 = 30'-011 %1C IR1ML I—CIBJI-'Cu I I V C ROWELL 16TH STREET APARTMENTS BROKAWV CORNERSTONE COMMUNITY HOUSING sae no- EuCeprcgon gNOt Al MASSING AND SITE �dt dtl5,003 weiicntkawcom Attachment 3 Page 47 of 141 rncen�re.oe�yn.s�,eyr. 1 2016/07/05 NW BAR -1; 1652 SF SW BAR -1ST 1652 SF NW BAR -2ND 1652 SF SW BAR - 2NI 1652 SF 2 1 ST FLOOR 3 A2 1/32" = 1'-0" A2 AREA SCHEDULE SPACE I AREA 1 ST FLOOR NW BAR -1 ST 1652 SF MAIN BAR- 1ST 9333 SF SW BAR -1ST 1652 SF 1 ST FLOOR: 3 12637 SFI R O W E L L 2ND FLOOR B R O KAW NW BAR -2ND 1652 SF MAIN BAR - 2ND 19333 SF ro5moa„ nesq-,rT s.ae no- SW BAR - 2ND 11652 SF EuCe ON.- W401 sa, ads,aos 2ND FLOOR: 3 12637 SF oweiicn,pawcom Grand total: 6 25274 SF I + rncen�re.oe�yn.s�ieyr Attachment 3 Page 48 of 141 2ND FLOOR 1/32" = 1'-0" 16TH STREET APARTMENTS CORNERSTONE COMMUNITY HOUSING A2 AREA DIAGRAMS 2016/07/05 a s 1 ST FLOOR - OVERALL 1/32" = V-0" 1 -BED 727 SF STUDIO 388 SF STUDIO 388 SF STUDIO 388 SF STUDIO 388 SF 2 -BED 818 SF 1 -BED 1 -BED STUDIO 1 -BED 1 -BED 598 SF 598 SF 388 SF 598 SF 598 SF 2 -BED 855 SF 1 -BED I -BED 388 SF 1 -BED 598 SF 598 SF 598 SF 2 2ND FLOOR - OVERALL A3 1 1/32" = V-0" 1 -BED 598 SF -BED 98 SF 1 -BED 598 SF 2 -BED 1 -BED 855 SF 598 SF UNIT SCHEDULE Name Area Level 1 -BED 598 SF ROWELL 1 -BED 598 SF 1ST FLOOR 1 -BED 16TH STREET APARTMENTS — BROKAWV CORNERSTONE COMMUNITY HOUSING 1ST FLOOR 1:03 Wdldrnrtlr SY[Si 598 SF 1ST FLOOR sae no- EuCe prcgon gNOt 5dt dtl5,003 wellGmkdw mm OV E RAL L P LAN S 1ST FLOOR Ar hHectul .DEsign.stra,eyr. 2016/07/05 Attachment 3 Page 49 of 141 1 -BED 598 SF UNIT SCHEDULE Name Area Level 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 1ST FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED 727 SF 2ND FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED 598 SF 2ND FLOOR 1 -BED: 23 2 -BED 855 SF 1ST FLOOR 2 -BED 855 SF 1ST FLOOR 2 -BED 818 SF 1ST FLOOR 2 -BED 855 SF 2ND FLOOR 2 -BED 855 SF 2ND FLOOR 2 -BED 818 SF 2ND FLOOR 2 -BED: 6 STUDIO 388 SF 1ST FLOOR STUDIO 388 SF 1ST FLOOR STUDIO 388 SF 1ST FLOOR STUDIO 388 SF 1ST FLOOR STUDIO 388 SF 2ND FLOOR STUDIO 388 SF 2ND FLOOR STUDIO 388 SF 2ND FLOOR STUDIO 388 SF 2ND FLOOR STUDIO 388 SF 2ND FLOOR STUDIO 388 SF 2ND FLOOR 6yr11�][�liUl A3 LL W 1 STUDIO PLAN A4 3/16" = 1'-0" LL W ce 2 1 -BED PLAN A4 3/16" = 1'-0" ROWELL BROKAW s.ae no- Fwa— Oregon 97+01 541 alis loos weiicn�kawcom +r hq.cture. Design. 6t.I.Vy Attachment 3 Page 50 of 141 0 LL W ir 2 -BED PLAN 3/16" = 1'-0" 16TH STREET APARTMENTS CORNERSTONE COMMUNITY HOUSING A4 UNIT PLANS 2016/07/05 SOUTH ELEVATION 1/16" = 1'-0" i WEST ELEVATION 1/16" = 1'-0" +. v3 Wdlw—ttr Ss.rr sae no - E,,0— Oregon 9401 n�kawcom A hite[tul . Design. 6traleyy Attachment 3 Page 51 of 141 16TH STREET APARTMENTS CORNERSTONE COMMUNITY HOUSING A5 ELEVATIONS 2016/07/05 III �ud FiAuiffluH 7111Ell I WEST ELEVATION 1/16" = 1'-0" +. v3 Wdlw—ttr Ss.rr sae no - E,,0— Oregon 9401 n�kawcom A hite[tul . Design. 6traleyy Attachment 3 Page 51 of 141 16TH STREET APARTMENTS CORNERSTONE COMMUNITY HOUSING A5 ELEVATIONS 2016/07/05 1SECTION - TYP. A6!]1/8" = 1'-0" ROWELL BROKAW sae no - E,,0— Oregon 9401 ,541 Alii loos �.weiicn�kawcom A hq.ctul . Design. 6t.I.Vy Attachment 3 Page 52 of 141 R -ALV 20'- 0" 2ND FLOOR � 10'-0" \,-W 1ST FL00 f 0" 16TH STREET APARTMENTS CORNERSTONE COMMUNITY HOUSING A6 SECTION 2016/07/05 Attachment 2-11 Photos of the Site and Buildings Attachment 3 Page 53 of 141 SUBJECT PHOTOGRAPHS Photographs Taken by Zoe R. Swartz, MAI on October 4, 2022 Existing residence. Viewing south on 16"' Street, subject is on the left. - 29 - VIEWPOINT APPRAISALS, LLC Attachment 3 Page 54 of 141 Subject Photographs J Viewing north on 16th Street, subject is on the right. Kitchen in existing residence. - 30 - VIEWPOINT APPRAISALS, LLC Attachment 3 Page 55 of 141 Subject Photographs Living room in existing residence. Bathroom in existing residence. - 31 - VIEWPOINT APPRAISALS, LLC Attachment 3 Page 56 of 141 tr Subject Photographs Deck on existing residence. Back of house and shed. - 32 - VIEWPOINT APPRAISALS, LLC Attachment 3 Page 57 of 141 Subject Photographs Northern Tax Lot (Tax Lot 2000). Chicken coop building. - 33 - VIEWPOINT APPRAISALS, LLC Attachment 3 Page 58 of 141 Subject Photographs Shed. Viewing east across 16" Street. - 34 - VIEWPOINT APPRAISALS, LLC Attachment 3 Page 59 of 141 Attachment 2-16 Documentation of Site Control Attachment 3 Page 60 of 141 T CASCADE TITLE CO. Lane County Clerk 2022-046578 Lane County Deeds & Records 11/15/2022 11:53:49 AM RPR -DEED Cnt=1 Stn=45 CASHIER 04 4pages $20.00 $11.00 $10.00 $61.00 $102.00 TITLE NO. 0335527 ESCROW NO. EU22-1379 NRJ TAX ACCT. NO. 0205813 / MAP/TAX LOT NO. 17-03-25-24-01800 TAX ACCT. NO. 0205797 / MAP/TAX LOT NO. 17-03-25-24-02000 TAX ACCT. NO. 0205805 / MAP/TAX LOT NO. 17-03-25-24-01900 GRANTOR MARY R. SALING and SALING RESIDENTIAL TRUST GRANTEE METROPOLITAN AFFORDABLE HOUSING CORPORATION DBA CORNERSTONE COMMUNITY HOUSING PO BOX 11923 EUGENE, OR 97440 Until a change is requested all tax statements shall be sent to the following address: ***SAME AS GRANTEE*** After recording return to: CASCADE TITLE CO. 811 WILLAMETTE EUGENE, OR 97401 WARRANTY DEED -- STATUTORY FORM MARY R. SALING and MARY SALING, TRUSTEE OF THE SALING RESIDENTIAL TRUST DATED February 24, 2021, Grantor, conveys and warrants to METROPOLITAN AFFORDABLE HOUSING CORPORATION dba CORNERSTONE COMMUNITY HOUSING, an Oregon non-profit Corporation, Grantee, the following described real property free of encumbrances except as specifically set forth herein: SEE EXHIBIT A WHICH IS MADE A PART HEREOF BY THIS REFERENCE The true consideration for this conveyance is $578,140.00. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300 (Definitions for ORS 195.300 to 195.336), 195.301 (Legislative findings) AND 195.305 (Compensation for restriction of use of real property due to land use regulation) TO 195.336 (Compensation and Conservation Fund) AND SECTIONS 5 TO ll, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010. THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 (Definitions for ORS 92.010 to 92.192) OR 215.010 (Definitions), TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS 30.930 (Definitions for ORS 30.930 to 30.947), AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF ANY, UNDER ORS 195.300 (Definitions for ORS 195.300 to 195.336), 195.301 (Legislative findings) AND 195.305 (Compensation for restriction of use of real property due to land use regulation) TO 195.336 (Compensation and Conservation Fund) AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010. Except the following encumbrances: Covenants, Conditions, Restrictions, Easements and Rights of Way of record, if any. Attachment 3 Page 61 of 141 Dated this day of MARY R. S G -— State of Oregon County of Lane This instrument was acknowledged before me on INDIVIDUALLY and as TRUSTEE OF THE SA SALING RESIDENTIAL TRUST BY: L 1 ^�f36=,- MA� G , TRUS1 Eh OFFICIAL STAMP — ota b is for CHRISTINA JEANNE HAMAKER My commission expires NOTARY PUBLIC -OREGON COMMISSION NO. 1026462 MY COMMISSION EXPIRES JULY 24, 2026 Attachment 3 Page 62 of 141 2022 by MARY R. SALING, EXHIBIT `A' PARCEL 1: Beginning at an iron pipe marking the Southeast corner of the William Spencer Donation Land Claim No. 50 in Section 25, Township 17 South, Range 3 West of the Willamette Meridian; thence West 1233.0 feet along the center line of County Road No. 1141 to a point; thence North 304.02 feet along the center line of Janice Way to a point which is the true point of beginning; thence East 30.0 feet to an iron pipe on the East right of way line of Janice Way; thence continue East 200 feet to an iron pipe; thence North 91.32 feet to an iron pipe; thence West 200 feet to an iron pipe on the East right of way line of Janice Way; thence continue West 30.0 feet to a point in the center of Janice Way; thence South 91.32 feet along the center of Janice Way to the true point of beginning, being a description of the parcel of land commonly known as Lot 31 of the Wendell A. Gross Tract, in Lane County, Oregon. EXCEPT THEREFROM that portion described in Deed to the City of Springfield recorded September 24, 1976, Reception No. 7650087, Lane County Official Records, in Lane County, Oregon. PARCEL 2: Beginning at an iron pipe marking the Southeast corner of the William Spencer Donation Land Claim No. 50 in Section 25, Township 17 South, Range 3 West of the Willamette Meridian; thence West 1233.0 feet along the center line of County Road No. 1141 to a point; thence North 395.34 feet along the center line of Janice Way to a point which is the true point of beginning; thence East 30.0 feet to an iron pipe on the East right of way line of Janice Way; thence continue East 200 feet to an iron pipe; thence North 91.32 feet to an iron pipe; thence West 200 feet to an iron pipe on the East right of way line of Janice Way; thence continue West 30.0 feet to a point in the center of Janice Way; thence South 91.32 feet along the center of Janice Way to the true point of beginning, being a description of the parcel of land commonly known as Lot 30 of the Wendell A. Gross Tract, in Lane County, Oregon. EXCEPT THEREFROM that portion described in Deed to the City of Springfield recorded September 24, 1976, Reception No. 7650088, Lane County Official Records, in Lane County, Oregon, PARCEL 3: Beginning at an iron pipe marking the Southeast corner of the William Spencer Donation Land Claim No. 50, in Section 25, Township 17 South, Range 3 West of the Willamette Meridian; thence West 1233.0 feet along the center line of County Road No. 1141 to a point; thence North 212.7 feet, along the center line of Janice Way to a point which is the true point of beginning; thence East 30.0 feet to an iron pipe on the East right of way line of Janice Way; thence continue East 200.0 feet to an iron pipe; thence North 91.32 feet to an iron pipe; thence West 200.0 feet to an iron pipe on the East right of way line of Janice Way; thence continue West 30.0 feet to a point in the center of Janice Way; thence South 91.32 feet along the center of Janice Way to the true point of beginning, being in Lane County, Oregon. EXCEPT: Beginning at an iron pipe marking the Southeast comer of the William Spencer Donation Land Claim No. 50, in Section 25, Township 17 South, Range 3 West of the Willamette Meridian; thence West 1233.0 feet along the center line of County Road No. 1141 to a point; thence North 212.7 feet along the center line of Janice Way (16th Street) to the true point of beginning; thence East 30.0 feet to a pipe set on the East right of way line of Janice Way (16th Street); thence North 91.32 feet to a point marked by an iron Pipe; thence West 30.0 feet to the center line of Janice Way (16th Street); thence South 91.32 feet to the true point of beginning, in Lane County, Oregon. LEGAL (NRJ) Attachment 3 Page 63 of 141 American Land Title Association ALTA Settlement Statement - Borrower/Buyer I Adopted 05-01-2015 File No./Escrow No.: EU22-1379 Cascade Escrow Date & Time: 11/15/2022 12:59 PM ALTA Universal ID: 0002461 Escrow Officer: NADJA R DUDISH 811 WILLAMETTE STREET Settlement Location: CASCADE ESCROW EUGENE, OR 97401 11 CROW Property Address: 1855 & 1875 16TH ST (16TH STREET LAP), SPRINGFIELD, OR 97477 Buyer: METROPOLITAN AFFORDABLE HOUSING CORPORATION DBA CORNERSTONE COMMUNITY HOUSING Seller: MARY R. SAILING and SAILING RESIDENTIAL TRUST Lender: STATE OF OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT 725 SUMMER ST NE, STE B SALEM, OR 97301 Settlement Date: 11/15/2022 Disbursement Date: 11/15/2022 FINAL Financial Sales Price of Property 578,140.00 DEPOSIT TO ESCROW ON 06/15/2022 FROM METROPOLITAN AFFORABLE HOUSING FOR 5,000.00 EARNEST MONEY DEPOSIT TO ESCROW ON 11/10/2022 FROM METROPOLITAN AFFORDABLE HOUSIN FOR 45,919.43 FUNDS TO CLOSE Prorations as of 11-15-2022 / Adjustments REAL TAX - TAX ACCT #0205813 @ 786.77 paid to 07/01/2023 491.46 REAL TAX - TAX ACCT #0205805 @ 1,252.59 paid to 07/01/2023 782.44 REAL TAX - TAX ACCT #0205797 @ 572.11 paid to 07/01/2023 357.37 r' Loan Charges to: STATE OF OREGON 531,000.00 HOUSING AND COMMUNITY SERVICES DEPARTMENT Impounds Title Charges to CASCADE TITLE COMPANY MORTGAGEE'S EXTENDED POLICY (COM'L) 449.00 OTIRO 209.10-06, 208.2-06 Endorsements 150.00 GOV LIEN / INSPECT FEE - 50% 17.50 RECORD WARRANTY DEED 102.00 RECORD TRUST DEED 237.00 RECORD REGULATORY AGREEMENT 187.00 E -RECORDING FEE 15.00 Escrow / Settlement Fee to CASCADE ESCROW _ I I 1 File # EU22-1379 Copyright 2015 American Land Title Association. Attachme t 3 Pa 65 of 141 All rights reserved. Yage 1 of 2 Printed on 11/15/2022 at 12:59 PM ESCROW CLOSING FEE - 50% 968.50 Payoff(s) Miscellaneous SECRETARY OF STATE CORPORATION DIVISION/UCC SECTION UCC FILING FEE 15.00 CHECK TO METROPOLITAN AFFORDABLE HOUSING CORPORATION DBA CORNERSTONE COMMUNITY HOUSING 7.16 Debit Credit Subtotals BALANCE NEEDED TO CLOSE: Totals 581,919.43 581,919.43 SCADE ESCROW provides this Final ALTA Settlement Statement to the Buyer to reflect the final disbursement of all funds 3t constituted a part of the escrow. If you have any questions or need any further information please feel free to contact ur escrow officer shown below. ttlement Agent: Dated: t i Z Z ESCROW OFFICER: NADJA R DUDISH File # EU22-1379 Copyright 2015 American Land Title Association. Attach meQ P 66 of 141 All rights reserved. e -OT L 2Printed on 11/15/2022 at 12:59 PM • PRELIMINARY TITLE REPORT SUPPLEMENTAL CASCADE ESCROW October 07, 2022 ATTN: NADJA DUDISH Report No: 0335527 811 WILLAMETTE STREET Your No: EU22-1379 EUGENE, OR 97401 Seller: SALING RESIDENTIAL TRUST Buyer: CORNERSTONE COMMUNITY HOUSING PRELIMINARY REPORT FOR: Owner's Standard Policy $566,280.00 DT?FMTTTMC Owner's Standard Premium Gov. Lien/Inspect Fee $1,451.00 $35.00 We are prepared to issue 2006 (6/17/06) ALTA title insurance policy(ies) of CHICAGO TITLE INSURANCE COMPANY, in the usual form insuring the title to the land described as follows: Vestee: ( A T T A C H E D) MARY SALING, Trustee of the SALING RESIDENTIAL TRUST dated February 24, 2021 as to Parcels 1 and 2; and MARY R. SALING, as to Parcel 3 Estate: FEE SIMPLE DATED AS OF: SEPTEMBER 30, 2022 at 8:00 A.M. Schedule B of the policy(ies) to be issued will contain the following general and special exceptions unless removed prior to issuance: GENERAL EXCEPTIONS (Standard Coverage Policy Exceptions): 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. No liability is assumed hereunder untilpolicy has been issued and full policy premium has been paid. MAIN OFFICE FLORENCE OFFICE VILLAGE PLAZA OFFICE 811 WILLAMETTE ST. 715 14WY 101 * FLORENCE, OREGON 97439 4750 VILLAGE PLAZA LOOP SUITE 100 EUGENE, OREGON 97401 MAILING: PO BOX 508 * FLORENCE, OREGON 97439 EUGENE, OREGON 97401 PH: (541) 687-2233 * FAX: (541)485-0307 PH: (541) 997-8417 * FAX: (541)997-8246 PH: (541) 653-8622 * FAX: (541) 844-1626 Attachment 3 Page 67 of 141 Order No. 0335527 Page 2 2. Facts, rights, interests or claims which are not shown by the Public Records but which could be ascertained by an inspection of the Land or by making inquiry of persons in possession thereof. 3. Easements, or claims of easement, not shown by the Public Records; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. 4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. 5. Any lien, or right to a lien, for services, labor, material, equipment rental or workers compensation heretofore or hereafter furnished, imposed by law and not shown by the Public Records. SPECIAL EXCEPTIONS: THE FOLLOWING AFFECT PARCELS 1 AND 2: 6. Taxes, Account No. 0205805, Assessor's Map No. 17 03 25 2 4, #1900, Code 19-00, 2022-2023, in the amount of $1,252.59, NOW DUE AND PAYABLE. Taxes, Account No. 0205797, Assessor's Map No. 17 03 25 2 4, #2000, Code 19-00, 2022-2023, in the amount of $572.11, NOW DUE AND PAYABLE. 7. City liens, if any, as levied by the City of Springfield, for which no search was made. (The City of Springfield charges $32.00 for a lien search on each tax lot number. Please inform us if one is to be ordered.) 8. As disclosed by the tax roll, the assessed value has been reduced in the amount of $23,370.00, by reason of a Veteran 1 Exemption. If the exempt status is terminated under the statute prior to July 1, when the assessment roll becomes the tax roll, said property will be taxed at 1000 of the assessed value. (Account No. 0205805) 9. Easement, including the terms and provisions thereof, granted to City of Eugene, by instrument recorded August 2, 1926, Reception No. b150 p150, Lane County Oregon Deed Records. Assignment, including the terms and provisions thereof, recorded May 7, 1965, Reception No. 1965-002458, Lane County Oregon Deed Records. 10. Easement, including the terms and provisions thereof, granted to City of Eugene, Oregon, by instrument recorded October 5, 1937, Reception No. b190 p566, Lane County Oregon Deed Records. 11. Reservation of one-half of oil rights to the Union Central Life Insurance Company, in Deed recorded June 27, 1944, Reception No. B269 P651, Lane County Oregon Deed Records. 12. Notice of Intent to Preserve Mineral Rights by the Union Central Life Insurance Company, including the terms and provisions thereof, by instrument recorded December 20, 2002, Reception No. 2002-099258, Lane County Deeds and Records. 13. The terms, provisions, rights of the beneficiaries, and powers of the Trustee under the Saling Residential Trust dated February 24, 2021, and any amendments thereto, under which the vestee herein holds title. A copy of the trust agreement and an adequate Certification of Trust must be furnished for our examination. Attachment 3 Page 68 of 141 Order No. 0335527 Page 3 NOTE: The property address as shown on the Assessor's Roll is: 1875 16th Street Springfield, OR 97477 THE FOLLOWING AFFECT PARCEL 3: 14. Taxes, Account No. 0205813, Assessor's Map No. 17 03 25 2 4, #1800, Code 19-00, 2022-2023, in the amount of $786.77, NOW DUE AND PAYABLE. 15. City liens, if any, as levied by the City of Springfield, for which no search was made. (The City of Springfield charges $32.00 for a lien search on each tax lot number. Please inform us if one is to be ordered.) 16. Easement, including the terms and provisions thereof, granted the City of Eugene, by instrument recorded August 2, 1926, Reception No. b150 p150, Lane County Oregon Deed Records. Assignment, including the terms and provisions thereof, recorded May 7, 1965, Reception No. 1965-002458, Lane County Oregon Deed Records. 17. Easement, including the terms and provisions thereof, granted the City of Eugene, Oregon, by instrument recorded October 5, 1937, Reception No. b190 p566, Lane County Oregon Deed Records. 18. Reservation of one-half of oil rights to the Union Central Life Insurance Company, in Deed recorded June 27, 1944, Reception No. B269 P651, Lane County Oregon Deed Records. 19. Notice of Intent to Preserve Mineral Rights by the Union Central Life Insurance Company, including the terms and provisions thereof, by instrument recorded December 20, 2002, Reception No. 2002-099258, Lane County Deeds and Records. 20. Verification is required that there is no claim of the Oregon Department of Human Services or the Oregon Health Authority related to public or medical assistance for Dorothy A. Schram, deceased. Contact the DHS or OHA Estate Administration Unit at phone no. 800-826-5675 or 503-378-2884. 21. Certified copy of death certificate for Dorothy A. Schram, a former owner, should be furnished for recording. NOTE: The property address as shown on the Assessor's Roll is: 1855 16th Street Springfield, OR 97477 NOTE: A judgment search has been made on the above named Vestee (s) , and we find NONE except as set forth above. NOTE: As of the date hereof, there are no matters against METROPOLITAN AFFORDABLE HOUSING CORPORATION, AN OREGON NONPROFIT CORPORATION DBA CORNERSTONE COMMUNITY HOUSING, which would appear as exceptions in the policy to issue, except as shown herein. NOTE: This report is being supplemented to update the vesting, taxes, remove prior exception nos. 6, 14 and add new exception nos. 6, 14, 20 and 21. Attachment 3 Page 69 of 141 Order No. 0335527 Page 4 This report is preliminary to the issuance of a policy of title insurance and shall become null and void unless a policy is issued and the full premium paid. Cascade Title Co. rh: Title Officer: KURT BEATY Attachment 3 Page 70 of 141 Order No. 0335527 Page 5 PROPERTY DESCRIPTION PARCEL 1: Beginning at an iron pipe marking the Southeast corner of the William Spencer Donation Land Claim No. 50 in Section 25, Township 17 South, Range 3 West of the Willamette Meridian; thence West 1233.0 feet along the center line of County Road No. 1141 to a point; thence North 304.02 feet along the center line of Janice Way to a point which is the true point of beginning; thence East 30.0 feet to an iron pipe on the East right of way line of Janice Way; thence continue East 200 feet to an iron pipe; thence North 91.32 feet to an iron pipe; thence West 200 feet to an iron pipe on the East right of way line of Janice Way; thence continue West 30.0 feet to a point in the center of Janice Way; thence South 91.32 feet along the center of Janice Way to the true point of beginning, being a description of the parcel of land commonly known as Lot 31 of the Wendell A. Gross Tract, in Lane County, Oregon. EXCEPT THEREFROM that portion described in Deed to the City of Springfield recorded September 24, 1976, Reception No. 7650087, Lane County Official Records, in Lane County, Oregon. PARCEL 2: Beginning at an iron pipe marking the Southeast corner of the William Spencer Donation Land Claim No. 50 in Section 25, Township 17 South, Range 3 West of the Willamette Meridian; thence West 1233.0 feet along the center line of County Road No. 1141 to a point; thence North 395.34 feet along the center line of Janice Way to a point which is the true point of beginning; thence East 30.0 feet to an iron pipe on the East right of way line of Janice Way; thence continue East 200 feet to an iron pipe; thence North 91.32 feet to an iron pipe; thence West 200 feet to an iron pipe on the East right of way line of Janice Way; thence continue West 30.0 feet to a point in the center of Janice Way; thence South 91.32 feet along the center of Janice Way to the true point of beginning, being a description of the parcel of land commonly known as Lot 30 of the Wendell A. Gross Tract, in Lane County, Oregon. EXCEPT THEREFROM that portion described in Deed to the City of Springfield recorded September 24, 1976, Reception No. 7650088, Lane County Official Records, in Lane County, Oregon. PARCEL 3: Beginning at an iron pipe marking the Southeast corner of the William Spencer Donation Land Claim No. 50, in Section 25, Township 17 South, Range 3 West of the Willamette Meridian; thence West 1233.0 feet along the center line of County Road No. 1141 to a point; thence North 212.7 feet, along the center line of Janice Way to a point which is the true point of beginning; thence East 30.0 feet to an iron pipe on the East right of way line of Janice Way; thence continue East 200.0 feet to an iron pipe; thence North 91.32 feet to an iron pipe; thence West 200.0 feet to an iron pipe on the East right of way line of Janice Way; thence continue West 30.0 feet to a point in the center of Janice Way; thence South 91.32 feet along the center of Janice Way to the true point of beginning, being in Lane County, Oregon. Continue - Attachment 3 Page 71 of 141 Order No. 0335527 Page 6 Property Description Continued (PARCEL 3) - EXCEPT: Beginning at an iron pipe marking the Southeast corner of the William Spencer Donation Land Claim No. 50, in Section 25, Township 17 South, Range 3 West of the Willamette Meridian; thence West 1233.0 feet along the center line of County Road No. 1141 to a point; thence North 212.7 feet along the center line of Janice Way (16th Street) to the true point of beginning; thence East 30.0 feet to a pipe set on the East right of way line of Janice Way (16th Street) ; thence North 91.32 feet to a point marked by an iron pipe; thence West 30.0 feet to the center line of Janice Way (16th Street); thence South 91.32 feet to the true point of beginning, in Lane County, Oregon. Attachment 3 Page 72 of 141 CASCADE TITLE CO. MAP NO. 17-03-25-24 r Z5 31551 d 25M 37 1450C 4101 2403 # 018AC-16AC270I '1.PPCL3 IIf y �ya d t 9 Ac ui 2200 �`�'P4001 2703 X702 016 ACx0.2 AC 0.15 AC�° PCL3 PCL2 oforc S6510.i90' rrso'seca-F 120 T wem 2101 2800 23 2100 9.35 AG 0-25 AC N 3900 3902 4600 { x 0.21 AC 0.2 AC �, ,� � � a 0.22 AC 1100 +�yynn 11�0 f� Will � } ffi 13a 6 T— 23 ioo — — — 0.1.84i d 1 .5 - - 0-41 AC 2900' , 33 m -0.37 AC 5600 4803 5T00 G-34 AC 0. 14 A `"018AC PCL 1{ z5 PCL2 xpv WFs I 24`f{[mss i0a EAST 1900 9.3' Il5JL1 l S71O3001 ` 32 1 AC r Q.41 AC ti 3002 R 0.13 AC m 0.24 AG 8 PCL 2 d 38 A 4802 s a PCL1 \ r}rJ 0.34 AC IUF.46 NC-0alU C J 'SP24' R IMI iGQ N 7' Tp9.9E' 1800 , ,ao 25 fl_41 AC y 3100 3C}01 0.37 AC M 4 1'4 4801 0-33 AC 655F app Aa, 'w hF5' .60' 31 i 26 2 8p E0.8 012A 1600 1700 3200 340D 7G 20 - 22 a 0.19AC 3500 4$QQ r 02 AC r 3300�7h�n F I -- — — — — —— — — — — —— i + on. I so' rr 1 \ 'rJ 2 !3 - ------ --------- --a _ FET ILJNO. 1141 ti -------.rte--�-- THIS MAP/PLAT IS BEING FURNISHED AS AN AID IN LOCATING THE HEREIN DESCRIBED LAND IN RELATION TO ADJOINING STREETS, NATURAL BOUNDARIES AND OTHER LAND, AND IS NOT A SURVEY OF THE LAND DEPICTED. EXCEPT TO THE EXTENT A POLICY OF TITLE INSURANCE IS EXPRESSLY MODIFIED BY ENDORSEMENT, IF ANY, THE COMPANY DOES NOT INSURE DIMENSIONS, DISTANCES, LOCATION OF EASEMENTA;tt%�M*49 ft0'fh9WMATTERS SHOWN THEREON. 49''Sn'S'ecd';':`26:;':.! ' a IT S. R. 3 W. of the W.M. and running W. 627 feet-, 2 et '99'9&16 s16 feet to the Beat line of the Ow& Ci railroad right .11 V to 6,81 South line of Vine Street; E. 2072.5 ft& along the South D 166 -t -.1 -ins of 5tbi Ave; the same being a county road; South 1540 feetE [ing . ..st:s point 30 feet North of the S.R. corner of the Jacob Halsted D,L. .-SRi 3'W of the W9Qi and running West 567.8 feet; North along the bd.,2838 ft; Ri 564.1 ft; S. 2833 ft. to the place of beginning. a :a ow,by-Waid line across said land being more sPeolfloally described AA5 --a 6 . i - i - t I h lin . a of the first above described property, either just outside, oi, fi& the -some b61*ziF.r* the location of the transmission line aeM .ng t: IiAd the second above described propsrty appro . 2- North-v"D �Ahe"'MAR— 0rnerecif-t%6 Jacob- Halsted D.Z.0 #47, and running tbona it toUV adt'"b-V-99i. -prop'ieity, approximately 60 feet north and 567.8 -. ,t 'e;eeffiabsjn'@ tla'p resat oid:6 of 5th. 8t. Springfield, Oregon, The: ..... .. .... 1t f 0" 1 TF 0 pf b' 'a' t'r fi4ib •11' construoted. ht 't '!R!. -'V.' K.d , -P . tikisea for the purpose of erecting such d" I r:g-a rw ree- and=-repak r nt? or removing or patrolling or re endr. aright 6-7,;trlff�; 1 6 1 f"r. eft I as Interfore with said line, ...... S6. crossed by its transmission I indr . . ... ........ ... t]i one a a- no one save its employees, Its signs to - the enter.t b' Providedbe -Vold parTZ of the first pert shall or :r r srdr:'aodf �dnt due to the said transmission line'. land and ea©1 of parties a firS*A"pgrt this 30th day of June,GA.D.' 2 J6 W. Seavey Elizabeth K. Seavey 4iiiD> b6f.bre,-me, the undersurnedi ji- 6 d fb:d*itbin named �,�s a ei pore 6 dly�d tleevey to mepereonallq kt own to be:ttidd Tdil para_baa r. . a . m . e . n A. and , a I dknowl-edpe-d to ma:;thbt they exec- .. . and-- 1 6448 tV 0 r. 4in . expressed.. . '. . ....... z11 . diii-"C ad 'my Not briid seal the day . . . . . . . . . . . . J. if. RoArtbur 1N6f6ry.1'iib11bo; in and for the Countj of Lane, Stat:e Of disgon. ommibel:on explreo:: ber 1, 19, Tb440 •AM. 1p,,rGoun-T '-j, . . .... %r-snd. :bb-twden L. c.— and Bhur i;;:- regonj a municipal corporet- ..; a j. ( Af;f- Va. . ret'. ion of the sum o �ei{d'by said party%of the second part, pt wberoof ie .. .... .. ....... ii�au. ap-Ors an as .poled ....... w on..: f;` -I as, Of t t: Rn on hoUende owned .t 0. Attachment 3 Page 74 of 141 -__e h "I Attachment 3 Page 75 of 141 \ 04�_00 GRANT OF P.IOHT OF WAY 55056 TRE UNION CENTRAL LIFE INSUR- ) Piled for Record Oct 5, 1937; 9:19 o'clock A. M. ANCE COMPANY ) W. B. Dillard, County Clerk, to ) By Eva L. Duckworth, Deputy, City of Eugene, Oregon ) #021,212 - Eugene- Springfield Land & Water Company GRANT OF RIGHT OF WAY THIS INDENTUR2, made this 3rd day of September, 1937, by and between The Union C enteral Life Insurance Company, Cincinnati, Hamilton County, Ohio, party of the first part, and the City of Eugene, Oregon,a municipal corporation, by and through the Eugene Water Board, party of the second part, WITNESSETH: That said party of the first part, for and in consideration of One Hundred sixty ($160,00) Dollars, to them in hand paid by said party of the second part, the receipt whereof is hereby acknowledged,do hereby grant, sell and convey unto said party of the second part, its successors and assigns, the perpetual right and easement to construct, own, operate and Maintain, inspect, reconstruct and remove obstructions from, a line of S poles or towers a. wires, with all necessary anchors, guys, braces, and other equipment therefor, for the trans- mission and distribution of electricity, and for all purposes connected therewith, and wires for telephone purposes of said party of the second part, its successors and assigns, over, along, across and upon the lands owned by the party of the first part, in Lane County, Oregon, described as follows, to -wit: Beginning at a point 1346.9 feet North of the Southwest corner of the William C. Spencer D, L. C. No, 50, in Township 17 South, Range 3 West, Willamette Meridian, in Lane County;Orego and run thence North 1325 feet; thence South 89° 561 East 1293,7 feet; thence South 1325 feet; thence North 890 561 West 1293,7 feet to the place of beginning, containing 39,4 acres. The above description was formerly Blocks 1, 2, 3, 4, 5, 6, 7 and 8 of McWillama Addition as shown in Lane Count*lat Book No. 1, at page 34. Also: Beginning at the Southeast corner of the William C. Spencer and wife D. L. C. No. 50, in Township 17 South Range 3 West, Willamette Meridian, thence run North along the East li thereof 40.33 chains; thence West parallel with the South line thereof 3568.27 feet; thence South 132 feet; thence West 495 feet; thence South 2561.68 feet; thence East 4063.526 feet to the place of beginning, containing in all 283 acres, more or less. The route to be taken by said line ac!oss said lands is to be continuous with and a part the general route across other and adjacent lands, and is described more specifically as follo Beginning at a point on the East boundary of the above described tract, said point being approximately 2290 feet North of the SE corner of the W. C. Spencer D. L. C. 1#50, T. 17 S. R. 3 W. W. M,, and running thence S. 790 481 W. 5465 feet, more or less, to a point on the West boundary of the above described tract, said point being approximately 1363 feet North of the Southwest corner of the William C. Spencer D. L> C. No. 50, T. 17 S. R. 3 W. W. M., being the location of the transmission line as surveyed and constructed. sfrxf� x�girnsdxtr�.�*A��,r.u�r�frmssacalrzaasxanazfrxxieaac.�snla"rraxc¢xxk �LAsxraf�xfrx�csia:xxp�g�zssad �#m.rx-m�at�x�x+�txgxaav�asxtassxdelsuaanctxtrmx �n�=a,,;��o�xruu�frana:a�auuxa�rvxl�xaaftt�xxx�afrl2naszaa¢�; g�3witit��xlzmxta� raxfm$�xsas�xa:ftnmr. affiIIiadxgsmsnbdc Sx;s x�m . z� xaga�ndxarzelxszezfsr3atcxQi.. i xnxpyxm8xft xs�,oraxNsc3 �cmapcaw� Axa 3d -=m�axgaiaa:c��xaraP'��Y^��xx;r.Q,:rx:xW�..�c?nQ�.�ccis.�92xh�cx3t��kx�5recaaamaaxkazzaacl;&vzeva It is understood and agreed that any future damages to fences, crops or live stock due to construction, operation, maintenance or rebuilding of said transmission line shall be paid for by the part7lf the second part, and at current prices therefor, except that the above named consideration shall include the perpetual right to trim, for safe clearance, orchard trees, either existing now or planted later, and to trim or remove other than orchard trees that inter- fere or may interfere with said lines. It is also further understood and agreed that the party of the second part shall at all times have the right to enter upon said premises and to do any and all things necessary or con- venient for the installation, maintenance, care and rebuilding of said1transmission line. The rights, conditions and provisions of this easement shall run with the land and inure to the benefit of and be binding upon the heirs; executors, administrators, successors and assigns of the respective parties hereto. IN WITNESS WHEREOF, the undersigned executed this instrument this 3rd day of September, 1937. Witnesses: H. Biedenbach H. Lotz CORPORATE SEAL THE UNION CENTRAL LIFE INSURANCE COMPP.NY By E. E. Hardcastle E. E. Hardcastle Vice President O K By R. H. Thayer Legal R. H. Thayer Asst. Treasurer j R K G K STATE OF MrHaXX OHIO COUN7-1 GF :'%i+iI LTO2: Ss. Ta9 V ji On this 3rd day of September, to"7, beforeppearad E. ;a.dcaztla acv _..._ R. ';hajer, bath to me personally known, rete^ being cduly sworn, did sof that he, t1.e said L. E. Frdcastle is the Yice President, and he, the said R. 1, Thayer, is tl:e Asst.'Fr=.asurer .r.E ;NICU .._. T'RAL =iFE INS'iRANCE C_DYRANY, the w' thin nsne.. Corrora tion, and the t .-:e sew? Attachment 3 Page 76 of 141 567 a££i:cad Lo said instrwnent is Eha oorpor2to seal of ..id O—poration, and that the ..id 3.natru- ment was signed and sealed in behalf of said Corporation by authority of its Board of Directors Attachment 3 Page 77 of 141 a. -d said E. E. Hardeastle and R. H. Thayer acknowledged said instrument to be the free act and deed of said Corporation, IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal, the day and year first in this, my certificate, written. Wm. H. Bardes Wm. H. Bardes Notary Public in and for said County _ and State Notarial Seal My commission expires Jan. 21, 1340. %021,121 .uvcro . — nxrTnar nro C 0 N S E N T -- T— rarcaro.— Attachment 3 Page 77 of 141 5NO OtA.,PP OF 9I',]iT OF' !YAY TaF L -.ION CENTRAL LTFY 1';SvTj- Filsd for X'Cord Out E, 1937; 9.1p D1 ANCE COmpAjjy clock A. 4S5 54i W- li, 1)1114rd, County y Clark, city of 4'UF'Onc, Oregon I By Eva L. DUr"orth, Dop,,ty. #021,212Etigene-Springfield Land & Natd.� Company vRA-N'T OF' RIGHT uy wAy MIS INDENTURE, ,,do this 3rd day of September, 19s,i, by dnd betwoer, The U1110n. Central Life Insurance Company, Cincinnati, Humi ItOn County, Dhio, Party of the first City Of EuCOne, Orsgon,a =unjoipal corporation, by and tura ugh the Epart, And the ogees Water Ro Of the second part, ard, Darty WITMESSETIT: That said party of the first part, for and ixx consideration of 0 a a(, sixty ($160,00) Dollars, to them in hand Paid by said party of Lha n Hundred whereof is . second Part, the receipt haroby RcknOwle4ed.do hereby grant, Boll and convoy 'Into said Party of the second part, its successors and a4slgaB, the perpetual right and oasement to construct, own, Qpersta and maintain, inspect, reconstruct and remove obstructions from, a line of 6 P0104 or towera and', f wires, with all necoasar-y anchors, guys, braces, and other equipment therefor, for the mission and trans- mission Of electricity, and for all purposes connected therewith, 11 for tdlephone Purposes Of Buld Party of he and wixowiresalong, second part, Its successors and asalgns, over, v or, acrOss and upon the lards owned by the party of the first part, In Lane County, Oregon, described an fol,�Ovs, to -sit; Beginning at EL point 1346.9 feet North of the Southwest corner of tj L. C. No. 50, in Town3l.lip 17 South, Range '3 _a William C. Spencer and run thence North 132tj fast; Wast, Willamette Meridian, in Jane County Oregon thence North 891 se, the no 0 South 8.90 56' East 1293,7 feet; thence South 1325 fest; above description was Want 129317 feet to the Place of beginning, containing 39.4 acres. The formerly Blocks 1, 2, 3, 4, 5, 6, 7 and a Of MOWillama. Addition as shown In Lane COLLnt*.Iat Book No. 1, at page 34. k1301 Beginning at the Southnnat corner of the Iffilliam C. Spencer and wife D. L. C. No 50, In Township 17 South Range 5 the 40.33 chains; , West, Willamette Maridlan, thence run pcz�� along the 3Dast ;in South 132 feet; thence West parallel with the South line thereof 3568.27 feet; thence thence 'Nest 49B fact, thence South 2561.e0 feet, thence East 4063.526 feet to the Place of beginning, containing in all 2B3 LCI'BH, more or less, The route to 00 taken LY said lino across said lands is to be Continuous with and a part o� the general route arroan Othor and adjacent lands, and is described more specifically as follow Deglnnlng at a r)oInt Ov the Man boundary or the above described d tract, said point be! approximtaly 2290 feat N being 'JV North of the SE corner of the yi. C. Spencer D. L. C. #50, T. 17 S. R. - W. and running thanoB S. 79* 481 W. 5465 feet, more or lose, to a Point on the West f boundary of the above desoxibed tract, said Southwest corner of the William C. SPoint Doing Approximately 1363 feat North of the pencer D, L. C. '40, 50� T, 17 S. R. 3 W, W. being the location Of the transmission line as surveyed and constructed. KMMIMM2 r-txkx.%fzxthaxxzgxn&,xK.A mxlwkl[ It is understood and agreed that any future damages to fences, crops or live stock due to construction, Operation, mintenance or rebuilding or said transmission line shall be paid for by the PELrt*f the second part, and at currunt prices therefor' exceptthat the above named consideration shall Include the Perpetual right to trim, for Bare clearance, orchard tre es' e'tbe'r existing now Or planted latero and to trim or remove other than Orchard trees that jnter� fare or vay interfere with said lines. It Is also furthGr u-nderabood and agreed that the party of the sscOrd part shall at all times have the right to enter Upon said premises and to do any and all things nocoseur7 or con- venient for the InstallaLian, maintenance, care and rebuilding of said)tranamission line. The rights, conditions and provisions to the benefit Of this easement shall run with the land and inure Of and be binding upon the hairs, executors, Rdminiatrators, successors and assigns of the TOBPOctivO parties hereto. 1937. IN NrrNE35 WHEREOF, the undoralgned executed this instrument this 3rd day of September, Witnesses: THE LINJOI; CENTRAL LIFE INSURANCE CO?dPANY H. Biodenbaoh By E. X. Hardcaatlo H. Lctz E. E. Hardca3tle Vice President 0 K COFLFORATE SEAL By R. M. Thayer Legal RI -A �Tha Or Aent. Treanuror j R K STATE OF M(EKQrX OHIO 0 K I COUNTY Oi—YAMILTarl R C W 01, this 3rd day Or September, 1937, before me, Pppeared E. E. Hardcos);le and R. H. Thayer, both to me personally �, V FJ --V jan known, who being duly *worn, did say that he, the said as is the Vice President, and he, the id R Thayer, is the Aast.Trea3urer of TVX VNIOM CENTRAL LIFE Corporation, and that the seal w 4 ,c5•'�'!fC"'�iF•v��yry rryry,,Y,,r.r Yr.`.�E:i *'4�': � r�'t J,.+�_�.a _ _ ,r;:.. ..�. _. c...•.., �,, i (pf 7 r5ri• �'7 - �L - :�'rr .as 4rry _ - -ii' +-Uy,` yy yXf'Y .f� .t :s' S:•" .. .. _ I' _ - R{, L,1 '2' _ a}4 '�;ii1': [y�lYi4>� 2':�_- ,�. �:2. i{' 'I''� . � �$' �'•f'•ti.:, - F�j � I 5ry' - 'J7 •Yir:, .y„ {. it 'ra •k'� ,I� ] t5-''';il] : s"*s:i,r3st' s•J`e t'i_+ •' .+y',riy'']+!'!.riuct,7•- �, [ste;:_ - .i -i {<'if?'y''•:'.?k.r•!,_?ffJ r+ .6.� +4i_r'-teV+*._'ti..,.: +.s� �iJ' .!i'�-•JJ} a:...L'7• .. .. _ - 'I £',i� _ •�'w`'y';. :s':x'{•?,'r_• L�+,�;t, :lfiw. r+;,'_�![{: f:....l7Z�'.Mv [ a: p- .3 F�+ � i�'s"Fy` 'i53,�,re'F•1�rr+1��k G*.lir,i1'*.•;Fyyr,;a"hrY'i5±�j';?:�:•.r�._i' 'YIF: {rr.Jp*t k' '#,j iI-'I+�.Iry:'{�•,Y+,�''- 'al. s�'�+ti- -.I +,' {Ftii' _a; {+'{'',_ "- 'r'_ _ — .- ,._ �_ 'Ji... F r _ [ I •, 3_h ' ' }h. - -y _ ,. �i.�,,. . , 1' •I• � i _ 21#VL . r +,h' '"frJ�ea.�w' .M1:•_i, - .-s 10Ls-. >7_`WS.F.���,•{.,��:rS'jiFd:,7�Y���:LIni.:;,5`.?s';'.ih.,,17[•�.;,{;e_'t�te+,ra. 1Yi�7i'}AY"r j'S{3C','itJ'�Fy,-,.:J'.1,L`#1J� Pr?�' iee<.,LaL`:.yl,.#J:�'- %r•'"-"_ � � ar, :is'•`n��+{ r:� '. I:. in �# • . . '�J'yy �l,yy�'���''!¢¢! • -µ [,Sy l.l,:.Ty,�!5 F'3}F,h. , { .-. _ - \ 4 ASS jLG YX yy� + - ISI' i F, ''k''.rr ` , • _ ' ._ - Y•: L{ :.r } ''is:.l,j'x _ - _ - [ "' _ 't.:,fit� i,y 4,: _•'S4 y;t 7 .! [ Li "y', h{.' , - , - ♦a c ,ham Y'4< .s��" ':- r _ .! �a~�• a the . �z r� Water -Electric- Flo cL 1. d � n iart rir i'x � f + i�ijj•..�::''��' �f^�� �j�ytT�` ipa . c �: c:r. iE &s sold t -o h •Y�,..._t_,�.�,.��.R,R. '? •'yir_�1i'yc _ iij L..�11 L 'k. y i+Y,S is I', -4 n�, s � �• a ' g� ht Company that qe rt- npower tr lis M 151 iOIL I ine. ,Pd.ani : f lite' ds: d ri ed E; follows, t witar a .'Knowna along "T' Street . ,. %.i .a -ng at North 2nd n ,� �� Street � , ring east along' . li n.- eft !`Q" e to 16th t unning g i ll- north- easterl iii.' : tl.�.r� �..a poiht oStreet !' r'l ers linup i the oit eirl'~ side d a ext ion of E + h : I -, along with -easem'ents' and/or rigbt-s of way t -a i n- - Ing' thereto; located partly 'n the. City of Spri gfCi ld Lang EqQlpment and materiais include towers X42 t o 4 69' i'n-�'- 1uG'i%i , I consisting of three .-frame strtyctures and 3$4. si �:a k .4 _ '0 16 ljli ' 488 instil ators ,' 72 ISL] s nsio clamps 18 D.E. c�:amps , i It 41 1�, cl is and 22,500' feet Of 1 0 ACSR condl3ctor. As part .--)f said sale, the Eugene Water Electric. Boar agreed to assign to Pacific Power & Light Company the easements ;- '.11sed in +co nnect ion with said line and facilities. Now, sror, IN CONSIDERATION of said sale, and uErsu- • _ R ant to -Resolution duly passed by the Common Council of the City , o Eugene, the CITY U a municipal corporation, o. - hereby convey and assign andri an r unto PACIFIC POWER & LIGHT ! ' - COMPANY , the-.following,described easements id n ified by their. - respective heir,r cti grantors and by the volume and Page of tie Lane County'` r t Oregon Dien Records in which they are r spe tivel. reco cad, to -wit._•. ` rGrantor :c , ' Rcord } V6bn'.-F- ill an -TI'. Grimes t . C Volume 141, Page 518 - -.' B Nettie Vori. s;'''.+�++r—'7wr,rr., r ,.�..h 1r i 3 :}``` i -Rage . 32" : is 'W &. li a e'a ` . ' e 150, Page 14-9-150, _ June xoz Cil I `rl •.'41 F ' ytir �i 4.r•11~�ti+.yi,,'{..l,l;rr+-kN'r.i. Fr 'c.`jrJ'..J-�', ',=`il .`•' ' -- F . +��''4. . �, _''*., *.`.. i•+•.�.f•+,f - J:'. l' r Erickson `B}Tim�1.41 am Page .5-20, i $, .. _ '• :'z}. 'ir "4i_•!':` -k'''�''i' - ,i� _ - - '!f' �rya� +jjj� f-"���41fI{� - /+(� xi _ 1-41 yL�.'r�� r�yY _ 'Ij'� - '�r : •i'', JF444: k IR *' +rte _Volu+;�`.. i h� 'F1 174, .i' YM1d+ ,'. •fijL� '•F _r'�'�-'1 }'1. _. -_�L'' t -'L;'• �. ;}'�+~"'L�'f-= y•1+' i4 - - rr: I 1.r _r.N`+.;•yX *T`.'., t ,•.1 ....`F - . ' r -�, f„''I.._z' Fay ' 4F; ..`r: Y,� Y••]4. - + S + _ _'r is` i+t•%';{- €':r.7 {'�y: s.• _'r 5 _ -_...a �' •�, _, '�4i.. 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F'ir'i:'•a._ F2 �Jr ky t} r i'7�l .r+Y: �s.S•`: - '3 ,xf, w .�1 "�• Y'f ,.s ;, 'C :'' "�!,L r i• " .Fr-. -:.kry .xG trf .1:. /{' - rl -.k=• �1 t� � I � J•?'ori,. - k.' - _ i' .�• t , „}-' Y -� .. ,. • f • Y� • , .J, _,_ ... .t #.r�J f, urJy�„+J �::'�I�... a v, Attachment 3 Page 81 of 141 k . y5{ 44,4: *.3'fSL�: •� �'H.,.,.f-,'i,:f�fif; Y:3:i3:=,�yFr+ :i' '�. :-'L.{.-: - - _ .. � 7... �}} � , 'r':r�'J--.-.�.. - r.,r•,vth- Lfi, r+lYc} - •�' .. �,'_ Iii' -}r', 'kS:k• -- `Lw:`�'L 'moi.. +'+'' � � r } }J 7�1 re' f'rr'a-t+fr +}" -.:j" S+'.X':i•+S "+y'%.ia�-�L:S' Ly" - - .. _ h .•i ,r zF`tr" i � `;i�tf.J.-.� ''' ..,, " i _a„ ;.ti. . f ' ! - ' t„ ,i}? , n'.• a,:._�' r5r.:e, r 2 k,+[}i"t#';. t +r,-' at • ].a',',r�, _ ., . .. �. ... + S ., _. y -i.` .s -'ea ,s !,' ''+ �'LJ} ?" ria f; �. '-_ __ . r hl�.'. i� ,fir.'.' 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McPherson (Guy) X77 VolU 14 2,r lea .. ; r r F 441 , TO HAVE ARD TO HOLD, unto the said Grantee, its and'' assigns. . r ' IN WITNE" ', the City of Eugene, pursuant to - irji-iMon -IC-0 it ; -- v --cause d—th a .� -.res -- - t S gn ed by its maybr and Recorder and i t s be -hereunto affixed this: J7clay o STAT-E.,0F OREGON LANE corporate seai to. 1965. 1. THE- CITY OF EUGENE, orot.. k`:.; { n.: this 3.:96 '•r before `. appear.ed.- +{ arid. THOMAS B T both to - r onall known, -Who CONE tM- _the s `'� .: eo_rc o DWI the moi, }}YY }7: 'l.r j • +�•y" . ',' y + y. Y'� and !*■'iF•:Ltifi4i L. #.rIxe �••y _ id ':.:�.�r'� 5rt..}'1';4 �•:.;#�!.i.a*�_ :•.;'i:}. -r —:Ir : o .a±d :r a a...:.,. ;�1�.y{] _ _ `F`1 r. r-M..,4:L ., .__i}•�r ='. � � � ..T. r.Fy■�,�.�'� }r..r. ._. '_ � +' ii ii_ W, 4'Fi A'F +''iii ' -'4t bf *T , 4 f••• - :�f�wr . h Oxon cil, and :- � a d ' ' '.; 5 . 3�i�$I'l F.}. 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' }�'• •'� �+ - •x rrk l ' r r k;• Sr .�� rY i. - F' - } - r'l� '-1 ♦ .r.4+.,:f 1 Y 14•' {r'i `•r i 4; ..f :Y. �4e;, ..��, +'+`..rf.r�L,'i, '�, Y, _7. _�,�' . - I t•,:. itis .ka Jl - - - ..Y' .f5_1.'.µ_s{ :_:'[ ryrl iF .3 i.,74 '.r :+`r,.. - - '3'.+ v�'Ir •ti M1'M1I {' tb." ..L•� "' ,fi�J `` '* ':I :iwJirJ.irwr i rL - {; r,. .] +'i 4'+- l • •'�'i~++� 'J "df'�i� l 1' li. s4�:_ _ .i..uh.'' it i� �[[ L5' I. rv�S .�l 4'A'A +tE� 4;!•,1 _r: h,f , .:.�<. ka."•t,' ..��'.�,'.':,....r...v.4•X55:.3�;::�,i�._,'::.�;'•!':r,:'�': ._,.1,.; s. .4'a„�.`-m••i.t+��:`_. r ��ti'.c•" ;tl,:w4*,..,._Zi�+�r:_7 :".'_xk".�i:iS=.•.��,. �r Iii Attachment 3 Page 82 of 141 tL F Attachment 3 Page 83 of 141 tO -7 �,q �z, ,V•.`- �g IND 4, '14 jq, i Zr T,4, _*�j av ,177 17 a 0e 150 P & -E ftafiet. A V 1, M . . . . . . . ag,i p -0 -2 ; ZY P. Baller Guy) Volume 141-t wW er Melva -McPherson (Guy) -3 X77 77 Volume 142, Paqb 44. TO HAVE AND TO HOLD -unto the said Grantee, its SUO,_MP SsQ4* eF and�a*ssigns. IN WIT NESS ..WHE, RE OF the City of Eu9 ene,. pursuant' to . ...... . Rik . .......... . n, -b�­ �-' - I-�;---cut-mss,a4 - n=nS�ee . pre to be signed by its Maydr and Recorder and its Corporate Seal to d! Wv� be 'hereunt -0 aff ixed this.. day of. 19 65. STATE, -OF -OREGON CO3UKY.'OF LANE' on,,-thix CONE- afid. THE' CITY OF EUGENE, a - municipal corporation. bv Mayor 4,_ V Y of I865 -before -Me-aPpeared.`-•-,' BEATY bo-th t 1 0' me per-s.onallY known Attachment 3 Page 84 of 141 Attachment 3 Page 85 of 141 Recording Requested By The Union Central Life Insurance Co. and when recorded mail to: The Union Central Life Insurance Co. P.O. Box 40888 Cincinnati, OH 45240-0888 Attn: Diane Thomas Mineral Manager Division of Chief Deputy Clerk 2002-0992H Lane County Deeds and Records RPR—NT Cnt_l Stn=3 $10.00 $10.00 $11.00 11111111111 $31,00 1212012002 09:19.25 RM CiISHIER 07 NOTICE OF INTENT TO PRESERVE MINERAL RIGHTS This notice is intended to preserve an interest in real property from extinguishment pursuant to Title 5 (commencing with Section 880.020) of Part 2 of Division 2 of the Civil Code (Marketable Record Title). Claimant:Name: The Union Central Life Insurance Company Mailing Address: P.O. Box 40888 Cincinnati, OH 45240-0888 Interest and Real Property Any and all mineral rights, regardless of character, whether fungacious or nonfungacious, organic or inorganic, whether created by grant or reservation, regardless of form, whether a fee or lesser interest, mineral, royalty, or leasehold, absolute or fractional, corporeal or incorporeal, including express or implied appurtenance surface rights, owned or claimed to be owned by claimant in any real property situated in the County of Lane, State of Oregon. We assert under penalty of perjury that this notice is not recorded for the purpose of slandering title to real property and we are informed and believe that the information contained in this notice is true. If this notice is made on the behalf of a claimant, we assert under penalty of perjury that we are authorized to act on behalf of the claimant. Dated: November 26, 2002 State of Ohio County of Hamilton The U ion Central ife Insurance Company Daniel A. Hausfeld� Manager, Treasury Services Before me, a notary public in and for said county, personally appeared Daniel A. Hausfeld, to me known as the Manager of Treasury Services of The Union Central Life Insurance Company, who acting on behalf of the corporation, is authorized to execute this Notice of Intent to Preserve Mineral Rights to be filed in Lane County, Oregon. Further, that his signing was his free act and deed as such officer and the free and corporate act and deed of said corporation. In testimony whereof, I hereunto subscribed my name and affix my offical seal at Cincinnati, Ohio this 26th day of November, 2002, ' Is My Commission Expires: 4 L't JW C. Zinser March 21, 2004 s Notary Public, State of Ohio STgTE OF C� Attachment 3 Page 86 of 141 C 0 a u 0 3 `C', w "' Cn z z N �' O �¢UFai C7�U �0 O N v, z�.� M o°o o v U W � ¢ M O z3 A3 Utz 3', 2 �;A Ow CnF AE-�UU wNUv�w C]wu OU E- -0 C) `az 0003Ap �v�AG�AG W Cn Q z�U A3aC4CnEnEnC4oz�M W�aUO Cn ul H v' "' o d W W W C'nU, q C' vi 00 can �� OU Q z Cn O M"D � E � Ci C, d N a o o o o F: U LLI L, W �' 3 o C21,¢ C)UUxFx.�O7�U.-4C\C;°;��aF °dOpUF FZ�� O C/] Q" Ci H Gi M CCwn Q, N N N W W C/j r F w a s "t Cn °O U O a W v H W H °° a U H F U H H w w w w d 3¢ M O v U ,� O, WF� w Ow W W N W O �" M M W w p W Ha��,�za���H��r�Hzv�3M HIM E- V) E- �W W 0 0 00000 0 CD 00 aooao O v OOOoc� O V1 � M V1 0 0 0 0 0 0 0 0 In n O O O In In Vn CD c 0 0 0 0 0 0 O O O O O O CD CD CD CD C) O 0 0 0 00 O O� 6 0 6 0 00 :n O O 00 N Attachment 3 Page 87 of 141 a N 0 b h �1 kamm 0 CN N OM O N N rn 0 0 � O O O O N 0 0 0003 0 Attachment 3 Page 87 of 141 a N 0 b h �1 kamm 0 CN N � zz�a v� O O 00000 O z N y O u N N N N N N N .-r � Q Attachment 3 Page 87 of 141 a N 0 b h �1 kamm 0 CN N Recording Requested By The Union Central Life Insurance Co. and when recorded mail to: The Union Central Life Insurance Co. P.O. Box 40888 Cincinnati, OH 45240-0888 Attn: Diane Thomas Mineral Manager Division of Chief Deputy Clerk �00��099�SQ Lane County Deeds and Records ` $31.00 00370265200200992580020028 12/20/2002 09:19:25 AM RPR -NT Cnt=1 Stn_3 CASHIER 07 $10.00 $10.00 $11.00 NOTICE OF INTENT TO PRESERVE MINERAL RIGHTS This notice is intended to preserve an interest in real property from extinguishment pursuant to Title 5 (commencing with Section 880.020) of Part 2 of Division 2 of the Civil Code (Marketable Record Title). Claimant:Name: The Union Central Life Insurance Company Mailing Address: P.O. Box 40888 Cincinnati, OH 45240-0888 Interest and Real Property Any and all mineral rights, regardless of character, whether fungacious or nonfungacious, organic or inorganic, whether created by grant or reservation, regardless of form, whether a fee or lesser interest, mineral, royalty, or leasehold, absolute or fractional, corporeal or incorporeal, including express or implied appurtenance surface rights, owned or claimed to be owned by claimant in any real property situated in the County of Lane, State of Oregon. We assert under penalty of perjury that this notice is not recorded for the purpose of slandering title to real property and we are informed and believe that the information contained in this notice is true. If this notice is made on the behalf of a claimant, we assert under penalty of perjury that we are authorized to act on behalf of the claimant. Dated: November 26, 2002 State of Ohio County of Hamilton The U ion Central ife Insurance Company Tile Daniel A. Hausfeld Manager, Treasury Services Before me, a notary public in and for said county, personally appeared Daniel A. Hausfeld, to me known as the Manager of Treasury Services of The Union Central Life Insurance Company, who acting on behalf of the corporation, is authorized to execute this Notice of Intent to Preserve Mineral Rights to be filed in Lane County, Oregon. Further, that his signing was his free act and deed as such officer and the free and corporate act and deed of said corporation. In testimony whereof, I hereunto subscribed my name and affix my offical seal at Cincinnati, Ohio this 26th day of November, 2002. 1. My Commission Expires: March 21, 2004 C— A •J C. Zinser Notary Public, State of Ohio Attachment 3 Page 88 of 141 o b 0000 000 000 LA LA LA vN v, o iii 00 00 w ON - fi � O� V, �--� �--� O' f9 b � t0 z zzzzz z z t�f to to t7l M to M trf Cl 0 0 0 0 0 0 e y er � N N N N -• �.] CD � L7 00 00 n� O o C CN o lNo� lNi, y M n'd WW V 090 0 0 0 0 O► ON a 00 o 0 Cl O O O � O O O o 0 0 0 0 0 0 oLlh LA C> CD CD LA f4l �r 0 00000 0 0 ; ��• 0 0 0 0 0 0 0 0 R ti ti R o � m w w o 0 0 0 0 0 w o 0 0 /Mi cn 1 /0D 1 /0D 0 0 0 0 0 0 z 4 J N �• trl t17 t17 z t17 ]." U' p i ►C' vCD w� v Oz� -3 bo 7w y�Crrftrrltrrl p oozy y o tz � � v� b t7l t, y� , cn c C) a zyHnO0w0H�`'3� 0 0 ot"n°�Oi`'Hx C� � t�"yxpz�otdr"'xz a���� i,,H oxC�C��,,0 iz !-3 trf > pzl Zr t, r °� 0 7 CN t7l O zdo 0i wWo aacn acn ��w Cn"' x p �rlaw�z����� gd pd r M Lh y d p o 0 0�� z n Z z Ozoa O ptnd H�t�rnO pycl d xcn Oo r0tj ?n 00 of oyH r 00`'"`''o 1�7n � rf G1N "3 y y� �xHCN y tri? by N z y V Cn t HH tt C', o 0 Atta'CHT $nt 3 Page 8 -of 141 O r Attachment 2-19 Informational Notice to Seller Attachment 3 Page 90 of 141 CORNERSTONE COMMUNITY HOUSING November 30, 2021 Saling Residential Trust c/o Mary Saling 1875 16th Street Springfield, OR 97477 Dear Mary: PO Box 11923 Eugene, OR 97440 Office: 541-683-1751 www.cornerstonecommunityhousing.org Metropolitan Affordable Housing, Corp. doing business as Cornerstone Community Housing, is interested in acquiring properties you own at 1855 and 1875 N. 16th Street, Springfield, OR 97477 and include the following three taxlots: 17-03-25-24-01800, 17-03-25-24-01900,17-03-25-24-02000, for a proposed project which may receive funding assistance from the U.S. Department of Housing and Urban Development (HUD). Please be advised that Cornerstone Community Housing does not have authority to acquire your property by eminent domain. In the event we cannot reach an amicable agreement for the purchase of your property, we will not pursue this proposed acquisition. We are prepared to offer you between $500,000 and $525,000 to purchase your property. We believe this amount represents the current market value of your property. Please contact us at your convenience if you are interested in selling your property. In accordance with the Uniform Relocation Assistance and Real Property Acquisition Policies Act (URA), owner -occupants who move as a result of a voluntary acquisition are not eligible for relocation assistance. If you have any questions about this notice or the proposed project, please contact Darcy Phillips, by mail at PO Box 11923 Eugene 97440, email dphillips@comerstonecommunityhousing.org, or by phone 541-683-1751. Sincerely, Darcy Phillips, Executive Director Cornerstone Community Housing Cornerstone Community Housing is committed toAtW4l oto, 3fFras% R1sQfg14Jeople living on limited incomes and offering services that promote opportunities for personal growth and economic independence. Attachment 2-25 Documentation that Proposed Project Meets Zoning and Land Use Laws Attachment 3 Page 92 of 141 From: Amy Cubbage To: Ben Prav; Mike Bover; Darcy Phillips Subject: Springfield Zoning Verification Update Date: Thursday, November 10, 2022 4:29:17 PM Attachments: imaae001.png image002.pnng imaae003.pna image004.pnng imaae005.pna Zon i na-Certification-Form. docx Hi Ben, Mike, and Darcy, I just got a return call from Erin Fifield with the City of Springfield. Here are my notes from our conversation: • The turnaround time on a zoning verification request is typically two weeks (once the developer has paid the $383.25 fee). • I submitted the attached verification form in person on 10/25/22. The city didn't process it because they were trying to get the fee waived for us. However, the fee waiver requires a different application (which I submitted a few weeks prior). The city attorney is currently reviewing the fee waiver application and, ultimately, there will need to be a signed agreement in place between us and the city before we can receive that waiver. Staff are out sick, the attorney's office is slow, and there's been some turnover within the city recently, so they haven't been able to get through this process. • We won't have the signed verification back in time before the HOME application is due. Ellen Meyi-Galloway, the staff lead on the HOME RFP, is ok with this. She's suggested that we submit the attached form with our application, say that we submitted it on 10/25 and that we're waiting for a response from the City of Springfield, and explain why we believe that the site is zoned appropriately for our proposed project by referencing relevant sections of the City of Springfield development code and other relevant assumptions. For example: o 4.7.405 Affordable Housing. (See R-2 District) https://library.qcode.us/Iib/springfield or/pub/development code/item/chapter-4- 4 7 300-4 7 405 • The Eugene -Springfield HOME Consortium would still like to have the signed zoning verification before they meet to deliberate on funding awards. So, it may be worth it to just pay the $383.25 fee to keep the ball rolling. Perhaps we can get it reimbursed or refunded later. • Additionally, Ellen is hoping that we can elaborate a bit on staff capacity in our application narrative, specifically acknowledging Cornerstone's staff changes (i.e. me leaving) and discussing the timeline for hiring and onboarding a new staff person. Also, emphasizing the availability/experience of Home First Development to support this project. If you have additional questions about this, don't hesitate to reach out to Erin or Ellen. Erin Fifield (she/her) Community Development Analyst Attachment 3 Page 93 of 141 City of Springfield (541) 726-2302 efifield(@springfield-or.gov Ellen Meyi-Galloway, AICP Affordable Housing Production Manager City of Eugene emeyi-gallowa)z(@eugene-or.gov Also, Darcy knows where to find me if you need me. Thank you all! It's been super fun working with you on this project and I look forward to the future groundbreaking! Amy Amy Cubbage Director of Real Estate Asset Management Office: 541.683.1751 ext. 104 CORN E I TCHNE tl� CJDMIVIVNP TY HOUSING Attachment 3 Page 94 of 141 Zoning: Local Government Verification that Development is Consistent With Zoning and Land Use Regulations Project Name: TBD —16th Street Development Project Type and # of units: Multi -Family Affordable Housing; 39 units Project Location: 1855 & 1875 16th St, Springfield, OR 97477 Acreage of Project Site: 1.23 Tax Account #(s): 0205813, 0205805, & 0205797 Assessor's Map & Tax Lot(s): Tax Lots 1800, 1900, & 2000 on Map 17-03-25-24 Certification (Must be completed by local jurisdiction) 1. The zoning for this development site is: 2. The number of units (not buildings) [density] allowed for this development site is: Minimum number: Maximum number: 3. The number of on-site parking spaces required per dwelling unit is: 4. Check the applicable box. (Check only one (1) box): ❑ The proposed use is consistent with the above referenced zoning and applicable land use regulations. The jurisdiction requires no additional land use approvals. The proposed use will be consistent with the above referenced zoning and applicable land ❑ use regulations upon obtaining of the following land use approval(s): , or resolution of the following land use issue(s): Applicant submitted the required application(s) for review: has has not ❑ The proposed use is not allowable or cannot be determined to be allowable with the above referenced zoning and applicable land use regulations because: I certify the City/County of has vested in me the authority to verify consistency with local land use regulations and I further certify the foregoing information is true and correct to the best of my knowledge. Signature Print Name Date Phone Title Attachment 3 Page 95 of 141 Zoning Low Density Residential Medium Density Residential High Density Residential Mixed Use Residenhal Res. Mixed Use (Glenwood( Neighborhood CDmmarbal - Community Ccmmen;ial maicr Retail commercial Mixed Use Commercial Com merdal M.U.(Glenwood) hAixed Use LMI & GC Campus Industrial light -Medium Industrial - Heavy Industrial - Spedal Heavy Industrial Employment M.U. (Glenwood) Saotti-Kally Mixed Use Generat Office offce Mixed Use (Gienwoodj - Medical Services Quarry & Mine operations Pubic Land & Open Space The proposed site is zoned R-2 residential. Springfield building code allows for 42 units per acre for multifamily developments. Our architect has designed a 39 -unit building that complies with city building and zoning codes. Zoning code on our proposed 1.23 acre site allows for the development of up to 52 units. For more information, please reference: 9RIPGE R❑ E 1 1 1 � 1 1 a0N10 ONTO r Y to oh * iia i 4 i a M r I� w E w i w Ekdaip p ParA O w t -1 Q — + ya to td�tiOC �v RplJISt'tr 1 $T T SITE T , \91 r 711 r� r Y c ST ALT ST https://li brary.gcode.us/Iib/springfield or/ pub/development code/item/chapter 4- {'T 4 7 300-4 7 405 PIEDMONT ST v -i J PLEASANT ST 0 r W Lr Attachment 3 Page 96 of 141 t t • 5T t OTfO � i i 1 1 I ST LOCO 1 1 � 1 ff 1 r� 1 t� sn 2 LOMONOAVEm w ff 1 W L 1PIt 1 r FIRTH AVE �1 0 Attachment • OM Documentation of Utility Allowance Calculation Attachment 3 Page 97 of 141 11/14/22, 2:29 PM https://tools.huduser.gov/husm/allowance—schedule.html " plfice o(Pohcy Developmenl and Research (PDdR) 0.6. Depanmenr dl Haas -Ing and urban DawHnpmem Secrelary Ben Carson uN Allowances for Tenant -Furnished Utilities and Other Services U.S. Department of Housing and Urban Development Office of Public and Indian Housing Locality ZIP97477 - Springfield, OR Green Discount LEED I Unit Type Larger Apartment Building (5+ units) Date 11/14/2022 Utility/Service Utility/Service Utility/Service 0 BR Monthly Dollar Allowances 1 BR 2 BR 3 BR 4 BR 5 BR Space Heating Natural Gas n/a n/a n/a n/a n/a n/a Bottle Gas n/a n/a n/a n/a n/a n/a Electric Resistance $6 $8 $10 $13 $15 $18 Electric Heat Pump $22 $23 $24 $25 $26 $27 Fuel Oil n/a n/a n/a n/a n/a n/a Cooking Natural Gas n/a n/a n/a n/a I n/a n/a Bottle Gas n/a n/a n/a n/a n/a n/a Electric $2 $2 $3 $4 $5 $6 Other n/a n/a n/a n/a n/a n/a Other Electric $7 $8 $11 $14 $18 $21 Air Conditioning $0 $0 $1 $1 $1 $1 Water Heating Natural Gas n/a n/a n/a n/a n/a n/a Bottle Gas n/a n/a n/a n/a n/a n/a Electric $5 $5 $7 $8 $10 $11 Fuel Oil n/a n/a n/a n/a n/a n/a Water n/a n/a n/a n/a We n/a Sewer n/a n/a n/a n/a n/a n/a Trash Collection n/a n/a n/a n/a n/a n/a Range/Microwave n/a n/a n/a n/a n/a n/a Refrigerator n/a n/a n/a n/a n/a n/a TOTAL $421$46 $56 $65 $75 $84 `The schedule above has allocated any monthly fees from tariffs into the tat instance where they are selected in the Actual Allowance section. Be sure to apply monthly fees correctly to allowances with a different utility profile! Attachment 3 Page 98 of 141 https://tools.huduser.gov/husm/allowance_schedule.html 1/1 Attachment 9-1 Development Consultant Agreement Attachment 3 Page 99 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-11 FA82F8C8A9 MASTER DEVELOPMENT SERVICES AGREEMENT This Master Development Services Agreement ("Agreement") is entered into as of November, 2022, by and between METROPOLITAN AFFORDABLE HOUSING CORPORATION dba CORNERSTONE COMMUNITY HOUSING LLC, an Oregon Nonprofit, or its assigns ("Client"), and HOME FIRST DEVELOPMENT LLC, an Oregon Limited Liability Company ("Home First"). RFC'.ITAI R A. Client controls real property Located in Eugene, OR ("Property"). Client intends to develop this Property into low-income affordable housing units. B. Home First, is a fiduciary to Client and is an experienced housing development consultant with a particular history working with first time developers and faith -based groups and a proven scalable development model that allows. Home First, on behalf clients, to comprehensively manage and oversee the development and construction of low cost, multi -family housing on properties located throughout Oregon and SW Washington. C. Client desires to develop and construct multi -family housing units on the Property, utilizing, to the extent reasonably possible and subject to site restrictions and conditions, substantially the same design and specifications as used on other projects managed by Home First. D. Client desires to engage Home First as an independent contractor to act as an owner's representative, not as an employee, to provide services relating to Client's development of the Property governed by the Work Order attached to this agreement as Exhibit A. A Work Order executed by both Client and Home First constitutes a "Project" under this Agreement and is subject to the terms of this agreement E. EXCLUSIONS: It is understood and agreed that Home First is the project consultant and not a construction contractor. Home First will not provide any labor, material, or equipment to be used in the development or constructing of the Project. The parties expressly understand and agree that the Consultant's services shall not include providing tax or legal advice to Client or anyone about any aspect of the Project. Attachment 3 Page 100 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-1 1 FA82F8C8A9 AGREEMENT In consideration of the foregoing and of the mutual promises set forth herein, and intending to be legally bound, the parties hereto agree as follows: Pursuant to a Work Order as identified in Recital D above, Client has engaged Home First to render, as an independent contractor, the following development services on the Project identified in the Work Order attached herein as Exhibit A (collectively, the "Services"): A. Comprehensive Development Consulting. Lead the property development activities from concept design to occupancy stabilization including the management of funding, construction, and compliance teams. Specific actions include but are not limited to: Select architects, engineers, funder required consultants (LIHTC Counsel, Bond Counsel, Trustee, LIHTC Accountant, Market Study Provider, etc.), and others as are necessary to bring the Project to successfully completion. Each service will be secured through professional services contracts directly between Client and the service provider that comport to the established project proforma line items for each service category. Home First can support the search for the right Property Manager and resident service providers but recognizes that OHCS will play a role in the selection process and that the final decision is one for the ownership group. 2. Oversight and management of the Project from the pre -development stage through the receipt of all certificates of occupancy to ensure that the architect, the general contractor, and all other service providers and permitting agencies are performing their respective duties as agreed and that the Project is moving forward according to plan, schedule, and budget. 3. Secure insurance coverages for the project according to best practice and the requirements of funders including general liability, builder's risk, and any coverages needed as the project is placed in service. 4. Work to identify and secure the required permits, necessary waivers, and abatements for the Project. Cost will be billed to the client separate from any fees identified in the Work Order. 5. Maintain complete and accurate records for the Project in accordance with reasonable project management systems and procedures and collect and assemble all material documentation and information related to the design and construction of the Project. Client shall have access to Home First's established online project management systems (e.g., SmartSheet, DropBox, etc.) for the Project. 6. Submit to Client promptly upon receipt, any notice from any contractor, architect, engineer, subcontractor, governmental entity, or any other third party 2 Attachment 3 Page 101 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-1 1 FA82F8C8A9 with respect to the Project. Without limiting the foregoing, promptly notify Client in writing of any condition or event of which it is aware or becomes aware, which could be reasonably expected to adversely impact permitting, value, scope, timing, or cost of the Project. 7. Unless otherwise directed by Client in writing, comply with all laws, insurance policies and agreements applicable to the Project. Client agrees to fully indemnify, defend, and hold Home First harmless from any claim, lawsuit, administrative action, or any cause of action whatsoever for any damage, injury, fine, penalty or cost incurred by Home First arising or resulting from Client's written instruction(s) not to comply with a law, insurance policy requirements or agreement applicable to the Project. B. Budget and Draw Management 1. Prepare and manage the project budget and schedule, and share with Clients any amendments, updates, or revisions thereto in a timely manner. 2. Notify Client of all payments and draws due to third parties, review and approve invoices according to the budget. oversee and coordinate the production of necessary documentation to obtain said payments. 3. Prepare and manage the project proforma and associated expenses according to established industry best practices and as approved by project funders at award, closing and completion. C. Funding Strategy and Management. 1. Work with lenders and funders to obtain financing consistent with terms established within the Project Proforma, including bridge, construction, and permanent funding. Facilitate correspondence with development team, allocating agency, financial partners, attorneys, accountants, and escrow officers involved with each form of funding. 2. Participate in all project calls with funders and monitor due diligence collection status for each source. Collect and submit all required due diligence items and make every effort to ensure Developer's compliance with funding source documentation requirements, including tracking timelines, deadlines, and key requirements associated with all forms of project financing. 3. Prepare reports as requested by all project funders and provide copies of all submitted project reports to Client. 4. Collect information needed on stabilization following construction completion and lease up to convert project to a permanent loan mortgage and receipt of 8609 certification. D. Construction Management. 3 Attachment 3 Page 102 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-1 1 FA82F8C8A9 Develop and implement a General Contractor formal bid process and contract negotiation. Coordinate with Development Team to ensure negotiations adhere to budget parameters and timeline expectations. 2. Select and manage a 3rd Party Construction Management professional or professionals to ensure all funder/investor requirements are met as it relates to construction administration. This includes the preparation and implementation of the MWESB utilization strategy. This 3rd party consultant will contract directly with Client with the budget for these services not to exceed the approved/working project proforma line item "3rd Party Construction Management" within the Construction Cost section of the "Uses" tab. These responsibilities typically will begin 1-2 months prior to construction and will conclude at receipt of certificate of occupancy. 3. Monitor construction operations and schedules to ensure deadlines are met. Evaluate progress and review GC reports to ensure accuracy. 4. At 50% completion, implement add -back list, schedule, and associated budget impacts. E. Other Duties. The performance of other duties may be undertaken according to terms agreed to in writing by both parties including whether additional compensation will be provided. 2. By executing the Work Order for the Project, Home First hereby accepts the engagement to provide the development services to Client on the Project on the terms and conditions set forth herein and in the Work Order. Notwithstanding any provision of this Agreement to the contrary, Home First shall not, without the prior written approval of Client, (i) execute contracts for or on behalf of Client, (ii) convey or otherwise transfer or pledge or encumber any property or asset of Client, or (iii) file or settle any litigation or insurance claims with respect to the Project. Home First shall perform the development services consistent with the standard of care of persons performing similar services for similar projects in the Portland, Oregon metropolitan area. A. Term. This Agreement will commence on the date first written above and applies to all Work Orders executed by Home First and, unless modified by the mutual written agreement of the parties or terminated earlier in accordance with the terms hereof, shall continue until the satisfactory completion of the Services defined in the Work Order attached herein as Exhibit A. B. Early Termination. Prior to the acquisition of funding represented by the closing of bridge, construction, and/or permanent financing, upon no less than 2 weeks notice, either party may terminate this Agreement without cause prior to its completion by sending to the other party written notice of such termination. Upon such termination, Client shall immediately pay to Home First all outstanding invoices 4 Attachment 3 Page 103 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-1 1 FA82F8C8A9 and shall pay to Home First a final payment on the termination date for any additional work undertaken but not previously invoiced. 2. If Client seeks to terminate this agreement after the acquisition of funding, in addition to payment required under Section B.1., a Separation Fee shall be paid to Home First representing 5% of any competitive funding secured for the project. This payment is due to Home First immediately upon Client's ability to draw on such funds. Early termination shall also release Home First from all liabilities and potential harms arising out of the Project, unless caused by Home First's negligence or intentional acts, and release Home First from the responsibilities of section 9 of this agreement. Termination will be considered complete when the Separation Fee payment clears Home First's bank account. The payment of the Separation Fee notwithstanding, Home First is still required to provide those items (a) through (d) listed in Section B. 3. of this Agreement as deliverable upon early termination. 3. Upon any termination of this Agreement, Home First shall: (a) deliver to Client all books and records and other information and materials (or copies thereof) related to the design, development and construction of the Project, including, without limitation, plans and specifications, construction documents, drawings, correspondence, site plans and warranties; (b) assign to Client or its designee any requested agreements and licenses relating to or used in the design, development and construction of the Project; (c) deliver a final accounting of the Project within thirty (30) days of termination, in a form reasonably acceptable to Client; and (d) cooperate with Client and any replacement development manager designated by Client, if any, to accomplish an orderly transition of the design, development and construction of the Project, provided that Home First shall receive reasonable compensation from Client for such transitions services in an amount to be mutually agreed upon between Home First and Client. C. Compensation. In consideration of the services to be performed by Home First, Client agrees to pay Home First the fee identified in the Work Order (the "Services Fee"). The Services Fee is calculated as 50% of the Project Developer Fee. When the Developer fee changes, compensation will correspondingly change to represent 50% of the total Developer Fee. Home First is paid out of cash developer fee, as it becomes available, until fully paid. 2. The Services Fee will cover the cost of all services to be performed by Home First hereunder, excluding 3rd Party Construction Management, permitting, geotechnical, architectural, engineering, environmental, special testing, and other third -party work. Client agrees that any significant changes to the Design Work after its submission to the appropriate regulatory/permitting authority will 5 Attachment 3 Page 104 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-1 1 FA82F8C8A9 result in an increase to the Services Fee paid by Client in an amount, to be mutually agreed upon between Home First and Client, necessary to compensate the required professional(s) to revise or make changes to the Design Work. Client agrees the increase in the Services Fee must be agreed upon in writing by Client and Home First prior to Home First undertaking any additional services. 3. The Services Fee for the Project will be paid as set forth in the Work Order for the Project. 4. Home First will be responsible for the routine costs of operating its business, including without limitation equipment, utilities, insurance, business supplies, and costs of travel. D. Taxes; Worker's Compensation. 1. Payment of all taxes arising from Home First's performance under a Work Order for this Agreement shall be the responsibility of Home First. Upon request of Client, Home First shall promptly provide to Client evidence of payment satisfactory to Client of all state and local sales, use and value-added taxes. 2. Home First shall comply with all applicable worker's compensation laws and shall be responsible for the payment of any premiums. E. Home First's Business Activities. Home First shall devote such time, attention and energy to the Project as is necessary to facilitate the expeditious and timely completion of the Project and to protect Client's interests regarding the Project. F. Ownership of Designs, Drawings, and Work Product. All materials prepared or developed hereunder by Home First or its employees, or subcontractors or their employees or agents, including documents, calculations, maps, sketches, designs, tracings, notes, reports, data, computer programs, models, and samples, shall remain the property of the entity or person that developed it. Copies of all work shall, together with any materials furnished to Home First and its employees by CORNERSTONE COMMUNITY HOUSING hereunder, be delivered to CORNERSTONE COMMUNITY HOUSING upon request, and, in any event, upon termination or final acceptance of the work. CORNERSTONE COMMUNITY HOUSING is not granted unlimited use of this work on any other project. It may only be used in completing the Project governed by this agreement G. Representations and Warranties. Home First represents and warrants it (a) will perform its services under this Agreement and the Work Order for the Project in a timely, professional and workmanlike manner, and (b) holds any and all licenses required by applicable law to perform its obligations under this Agreement and the Work Order for the Project, and further agrees to maintain 6 Attachment 3 Page 105 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-11 FA82F8C8A9 such licenses in good standing during the term of this Agreement. EXCEPT AS EXPRESSLY PROVIDED FOR IN THIS AGREEMENT, HOME FIRST MAKES NO OTHER REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED. H. Indemnity. Except as set forth directly below, Home First agrees to indemnify and hold harmless and, if requested by Client, defend Client and Client's directors, officers, shareholders, affiliates, employees and agents against and from any and all third -party claims, demands, suits, losses, costs, and damages of every kind and description, including attorneys' fees and litigation expenses, brought or made against or incurred by any of them resulting from, arising out of, or in any way connected with any act, omission, fault, or negligence of Home First, its members, managers, affiliates, employees, agents, representatives, or subcontractors of any tier, in the performance or non-performance of Home First's obligations under this Agreement. Home First's indemnity obligations shall not extend to any liability to the extent caused by the negligence or willful misconduct of Client or Client's material breach of any agreement relating to the Project. Notwithstanding the above, Client acknowledges and agrees that the general contractor or its subcontractors or agents are not agents of Home First and that, except to the extent Home First is negligent in overseeing or managing the general contractor or its subcontractors, agents or employees or otherwise fails to satisfy its obligations hereunder, Home First is not liable for any action or inaction of or any work/services provided by the general contractor or its subcontractors or agents, for the quality of the construction, any construction defects regarding or relating to any construction work performed on the Project. Client further acknowledges and agrees that, except to the extent Home First is negligent in overseeing or managing any architect or engineer or their respective agents or employees or otherwise fails to satisfy its obligations hereunder, Home First is not liable for any action or inaction, any work or any services provided by any architect or engineer providing services on the Project, including the condition or sufficiency of any plans. Thus, Home First's indemnity obligation under this Section 8 does not apply to any claims, demands, suits, losses, costs, and damages of every kind arising out of, or in any way connected with any act, omission, fault, or negligence of the general contractor, engineer(s) or architect(s), except to the extent Home First is negligent in overseeing or managing the general contractor, engineer(s), architect(s) or their respective agents or employees or otherwise fails to satisfy its obligations hereunder. Insurance. Home First shall, prior to commencing work on a Project, secure and continuously carry the following insurance coverage 1. Commercial General Liability with minimum coverage amounts as follows • $1,000,000 occurrence / $2,000,000 in the aggregate 7 Attachment 3 Page 106 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-1 1 FA82F8C8A9 • Deductible no greater than $10,000. 2. Umbrella Liability • $3,000,000 • Deductible no greater than $10,000 3. Professional Liability • $1,000,000 / $1,000,000 • Deductible no greater than $2,500 J. Limitation of Liability. Unless caused by Home First negligence or intentional acts, Home First, its officers, directors, employees, agents, contractors, or consultants, shall not be liable to Client or any of its shareholders, affiliates, members, officers, employees, contractors, or agents, for any incidental, consequential, punitive, special, or exemplary damages arising under or with respect to this Agreement or any Work Order, whether founded in tort, contract, or otherwise. Unless caused by Client negligence or intentional acts, Client or any of its shareholders, affiliates, officers, directors, employees, agents, contractors, or consultants, shall not be liable to Home First or any of its members, officers, employees, contractors, or agents, for any incidental, consequential, punitive, special, or exemplary damages arising under or with respect to this Agreement or any Work Order, whether founded in tort, contract, or otherwise. K. Entire Agreement. This Agreement and its exhibits and the fully executed Work Order for a Project contain the entire understanding and agreement between the parties hereto with respect to its subject matter and supersedes any prior or contemporaneous written or oral agreements, representations or warranties between them respecting the Project identified in the fully executed Work Order. The parties agree Recitals A through E are part of and incorporated into this Agreement. L. Assignment. No party may assign this Agreement or a Work Order without the other party's prior written consent; provided, however, Client may (a) assign this Agreement or a Work Order to an affiliated entity that owns or will own the Project, and (b) collaterally assign this Agreement or Work Order in connection with any financing of the Project, without Home First's consent, but Client will provide written notice of any such assignment to Home First. Any assignment in violation of this provision shall be void. M. Amendment. Neither this Agreement nor a Work Order may be amended except by a writing signed by a duly authorized representative of Home First and by a duly authorized representative of Client. 8 Attachment 3 Page 107 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-11 FA82F8C8A9 N. Severability. If any term, provision, covenant or condition of this Agreement or a Work Order, or the application thereof to any person, place, or circumstance, shall be held by a court of competent jurisdiction to be invalid, unenforceable, or void, the remainder of this Agreement or a Work Order and such term, provision, covenant, or condition as applied to other persons, places and circumstances shall remain in full force and effect. O. Rights Cumulative. The rights and remedies provided by this Agreement are cumulative, and the exercise of any right or remedy by either party hereto (or by its successors), whether pursuant to this Agreement, to any other agreement, or to law, shall not preclude or waive its right to exercise any or all other rights and remedies. P. Nonwaiver. No failure or neglect of either party hereto in any instance to exercise any right, power or privilege hereunder, under a Work Order, or under law shall constitute a waiver of any other right, power or privilege or of the same right, power or privilege in any other instance. All waivers by either party hereto must be contained in a written instrument signed by the party to be charged and, by an executive officer of the party to be charged or other person duly authorized by the party to be charged. Q. Independent Contractor. The relationship between Home First and Client is that of independent contractor. Home First shall use its independent professional judgment in performing its duties under this Agreement and shall be responsible for providing and for supervising its own employees. Home First will be responsible for maintaining its separate business identity at all times throughout the term of this Agreement. Home First will not be eligible for any employee benefits, nor will Client make deductions from fees to the Home First for taxes, insurance, bonds, or the like. Home First retains the discretion in performing the tasks assigned, within the scope of work specified. Nothing shall be construed under this Agreement to create a joint venture or partnership of any kind between the parties. R. Governing Law, Venue & Jurisdiction. This Agreement and any fully executed Work Order shall be construed in accordance with, and all actions arising hereunder shall be governed by, the laws of the State of Oregon. Any suit or claim regarding or relating to this Agreement, a Work Order or the Services provided by Home First must be brought in Multnomah County Circuit Court. The parties expressly agree to the jurisdiction of this court and waive any defense related to the court's lack of personal or subject matter jurisdiction. S. Notices. All notices or communications of any kind required or permitted to be given to Client or Home First under the terms of this Agreement shall be in writing with all applicable delivery charges and posted prepaid and shall be given as follows: (a) by hand delivery or messenger service maintaining records of delivery; (b) by Federal Express, UPS or a comparable overnight delivery service maintaining records of delivery; (c) by certified or registered 9 Attachment 3 Page 108 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-1 1 FA82F8C8A9 U.S. mail, return receipt requested; or (d) by email transmission, in each case, addressed to the party or sent to the applicable email address as follows: If to Client: Attn: Darcy Phillips CORNERSTONE COMMUNITY HOUSING 1175 Charnelton St. Eugene, OR 97401 dphillips@cornerstonecommunityhousing.org w/ a copy to: If to Home First: Ben Pray HOME FIRST DEVELOPMENT 866 N Columbia Blvd. Suite A-25 Portland, OR 97217 Email: ben@hfdpartners.com Notices or communications shall be deemed given upon the earlier of actual delivery or refusal of a party to accept delivery thereof (ignoring attempted deliveries shall be deemed refusal of a party to accept delivery thereof); provided, however, that notices or communications delivered by email transmission shall be deemed given on the date and time shown on the email if received before 5:00 p.m. Pacific Time and on the next Business Day if received after 5:00 p.m. Pacific Time, provided that notice is simultaneously transmitted by another means allowed by this Section 19. The addresses to which notices or communications shall be delivered may be changed from time to time by giving notice to Client or Home First as provided in this Section 19. Legal counsel to a party may provide notice under this Section 19 on behalf of such party. T. Attorneys' Fees. If a suit, action, arbitration or other proceeding of any nature whatsoever (including any proceeding under the U.S. Bankruptcy Code) is instituted in connection with any controversy arising out of this Agreement or a fully executed Work Order or to interpret or enforce any rights thereunder, the prevailing or non -defaulting party shall be entitled to recover its attorneys', paralegals', accountants', and other experts' fees and all other fees, costs, and expenses actually incurred and reasonably necessary in connection therewith, as determined by the arbitrator or by the court at trial or on any appeal or review, in addition to all other amounts provided by law. U. Construction. The language in all parts of this Agreement and any fully executed Work Order shall be in all cases construed according to its plain and fair meaning and not strictly for or against either party. As used herein, (a) the terms "hereof," "herein," "hereunder," and similar terms refer to this Agreement as a whole and not to any particular provision of this Agreement, (b) the terms "including" and "includes" are not limiting and each means "including without limitation" and "includes without limitation," as applicable, and (c) the term 10 Attachment 3 Page 109 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-1 1 FA82F8C8A9 "shall" means mandatory and imperative. If any period of time specified in this Agreement ends on a day other than a Business Day (defined below), such period shall be extended to the next following Business Day. "Business Day" means any day other than Saturday, Sunday or any legal holiday observed in Oregon. All provisions of this Agreement have been negotiated at arm's length and this Agreement shall not be construed for or against either Party by reason of the authorship or alleged authorship of any provision hereof. If the terms and conditions of the Agreement conflict with the terms and conditions of a Work Order, the terms and conditions of the Work Order will govern and control. V. Counterparts. This Agreement or any Work Order may be signed in counterparts (including the execution and delivery of facsimile or email signature pages), each of which shall be deemed an original and when taken together shall constitute one and the same instrument. The parties have executed this Agreement as of the date set forth in the introductory paragraph. CORNERSTONE COMMUNITY HOUSING an Oregon Non -Profit DocuSigned by: 11/15/2022 F7B9D736339248A... Name: Darcy Phillips Title: Executive Director HOME FIRST DEVELOPMENT, LLC an Oregon limited liability company By:FDocuSigned by: 11/15/2022 F11FCF4o0B93415... Name: Ben Pray Title: Owner 11 Attachment 3 Page 110 of 141 DocuSign Envelope ID: F2F24A3D-435D-4DDD-96ED-1 1 FA82F8C8A9 WORK ORDER — Development Consulting In consideration for the Services to be provided by Home First to CORNERSTONE COMMUNITY HOUSING, on the Project as identified in the MSA, CORNERSTONE COMMUNITY HOUSING agrees to pay Home First a consulting fee no less than 50% of the final Developer Fee (the "Service Fee") as detailed in the OHCS approved proforma at financial close. In exchange for the above consideration, Home First agrees to deliver to CORNERSTONE COMMUNITY HOUSING the Services identified in the MSA. CORNERSTONE COMMUNITY HOUSING agrees to pay the sums, collectively defined as ("Fees"), to Home First as follows: The first 50% of the Developer Fee available to the project shall be paid to Home First. This 50% shall not be deferred. However, these terms may be amended by mutual consent of both parties to serve the best needs of the project. CORNERSTONE COMMUNITY HOUSING an Oregon Non -Profit DocuSigned by: By: ` 11/15/2022 F7B9D736339248A.AAA Name: Darcy Phillips Title: Executive Director HOME FIRST DEVELOPMENT, LLC an Oregon limited liability company DocuSigned by: By: LLlt 11/15/2022 F11FCF400B93415... Name: Ben Pray Title: Owner 12 Attachment 3 Page 111 of 141 Attachment • e Most Recent Audited Financial Statement and Current Operating Budget (Removed for online copy) Attachment 3 Page 112 of 141 Attachment 0 Borrowing Resolution Approval to Borrow HOME Funds Attachment 3 Page 113 of 141 PO 1123 d ft,b CORNERSTONE Office: 5419683-17751e, OR 97440 10� COMMUNITY HOU 5 I N C www.cornerstonecommunityhousing.org Board Resolution RE11.8.22: 16th Street HOME Application Date: November 8, 2022 To: Eugene -Springfield HOME Consortium From: Board of Directors of Metropolitan Affordable Housing Corporation dba Cornerstone Community Housing Re Authorization to enter into a HOME Loan with the City of Springfield for the construction of affordable housing on property located at 1855 & 1875 16th Street, Springfield, OR 97477. Board Resolution: The Board of Directors of Metropolitan Affordable Housing Corporation dba Cornerstone Community Housing authorizes the Executive Director, Darcy Phillips, to apply to the Eugene - Springfield HOME Consortium 2022 HOME/Affordable Housing Request for Proposals for a HOME Loan as part of the funding sources needed to construct an affordable rental housing development on property located at 1855 & 1875 16th Street in Springfield and to enter into a HOME Loan Agreement if funds are awarded. The loan is forgivable upon successful completion of a 20 -year HOME compliance period and payments are deferred throughout the loan term. SECRETARY CERTIFICATE The undersigned certifies that the foregoing is a full, true and correct copy of a resolution. Phil Farrington made the motion to approve the resolution and Mario Conte seconded the motion. This resolution was duly passed and adopted by the Board of Directors of Cornerstone Community Housing via email vote and is effective November 9, 2022. Board Secretary Date Cornerstone Community Housing is committed to building quality, affordable housing for people living on limited incomes and offering services that promote opportunities for personal growth and economic independence. Attachment 3 Page 114 of 141 Attachment Proforma Attachment 3 Page 115 of 141 Pro Forma Instructions This excel workbook is an independent, stand-alone series of worksheets. Do not link this workbook to any other workbooks! This workbook was created by OHCS in Excel 2010; though efforts have been made to ensure compatibilty with previous versions, it is not guaranteed. The workbook makes reference to OAHTCs and LIHTCs. Please ignore those references as they do not apply in this RFP. Totals will be calculated in cells that say without OAHTCs. Each worksheet has identified cells that need to be completed; identified in green. Individual worksheet notes and directions are listed to the right of the primary tables. To Start: Begin on the Summary Worksheet, and fill in the Project Name, Date, type of project, and Pro Forma type. These selections will carry over to all of the other worksheets; if you have any changes to make to these criteria you will need to make them here. (please note that the pro forma type selection on this Summary page determines what data is used for summary calculations) After these elements are completed, you should proceed through all of the remaining green worksheet tabs and complete the needed information in green cells. Calculations won't work until all of the needed information has been entered in the workbook. All worksheets are locked, in order to preserve the integrity of the internal calculations. To unlock a sheet, right click on the tab and select "unprotect"; there is no password on these sheets though it is important to note that any adjustments made improperly may result in errors throughout the workbook. cell colors indicate: to complete by applicant calculated in worksheet value imported from other worksheet white cells are fixed fields and can not be over -written Attachment 3 Page 116 of 141 Organization Name: Cornerstone Community Housing Project Name: Springfield Apartments RELOCATION BUDGET Instructions: Outline the estimated relocation budget below. *Please remember to enter your total relocation budget in your Proforma. Attachment 3 Page 117 of 141 Cost per Number to be Activities Household/Business Assisted Budget Relocation rental/purchase assistance by size of unit to be replaced 1 bedroom $ - $ - 2 bedrooms - 3 bedrooms $ - $ - 4 bedrooms $ - $ - Temporary Moving Expenses $ - $ - Permanent Moving Expenses $ - $ - Replacement cost for business $ - $ - Advisory services $ - $ - Other (please specify) $ - $ - Total $ - 0 $ - *Please remember to enter your total relocation budget in your Proforma. Attachment 3 Page 117 of 141 Organization Name: Cornerstone Community Housing Project Name: Springfield Apartments Instructions: • Provide "Date Completed" and "Status" information for the following project tasks at a minimum. • If a task does not apply to your project, enter N/A. To add additional tasks, insert additional lines as needed. • Submit this form in chronological order. Use the sort function to reorder the form by the "Date Completed" column. • For each new task you enter in this column, also enter the appropriate category in the first column. Category Tasks Date Completed or Expected Completion Status Option Agreement/Conditional contract 9/1/2022 OHCS LAP Site Control Site Control Maximum Extensions N/A Site Control Closing 11/10/2022 Completed Feasibility/Due Diligence Site survey 3/1/2023 Pending HOME Award Feasibility/Due Diligence Market study N/A Rely on appraisal Feasibility/Due Diligence Phase I Environmental Assessment 3/1/2023 Pending HOME Award Feasibility/Due Diligence Phase 2 Environmental Assessment N/A Feasibility/Due Diligence Capital needs assessment N/A Feasibility/Due Diligence Neighborhood notification 1/1/2024 Will follow all jurisdictional requirements during planning/permitting process Feasibility/Due Diligence Relocation of existing tenants N/A N/A Relocation Planning and budget N/A N/A Relocation Initiation of negotiations N/A N/A Relocation GIN's delivered to tenants N/A N/A Relocation Advisory services to tenants N/A N/A Relocation Notice of Elgibility to tenants N/A N/A Relocation Notice of Non-displacement to tenants N/A N/A Relocation 90 day notice to tenants N/A N/A Attachment 3 Page 118 of 141 Relocation Tenant move out N/A N/A Design/Permitting Financing Appraisal Design/Permitting 2/1/2024 Financing Financial underwriting 1/2024 - 4/1/2024 Lender Approval Underwriting Financing Application for funding: Springfield CDBG Spring, 2023 In diiscussion w/City of Springfield Financing Application for funding: OHCS Small Projects NOFA Summer, 2023 Awaiting NOFA issuance. Project complies with all anticipated terms. Financing Construction cost estimate 11/13/2022 Preliminary GC Budget/SOV in -hand Financing Lender selection Funding for services Award date for funding source: Springfield CDBG 12/1/2023 Pending OHCS Award Financing N/A Supported through OPEX / Self -Perform Financing Financing Summer, 2023 In diiscussion w/City of Springfield Award date for funding source: OHCS Small Projects NOFA Fall, 2023 Attachment 3 Page 119 of 141 Design/Permitting Preliminary drawings completed 11/1/2022 Completed Design/Permitting Zoning approval 2/1/2023 In discussion w/City of Springfield Design/Permitting Site plan approval 4/1/2023 Pending HOME/CDBG Award Design/Permitting Building permit application submitted 10/1/2023 Pending OHCS Award Design/Permitting Building permits issued 3/1/2024 Design/Permitting Final Plans and Specs Completed 8/1/2023 Construction Solicit bids 11/1/2023 RFP Issued Construction Selection of general contractor 12/1/2023 Construction Begin construction 3/1/2024 Construction Issued certificate of occupancy 5/1/2025 15 -Month Build Occupancy Selection of management entity 11/1/2023 Occupancy Selection of service providers N/A Completed - Self Perform Occupancy Begin lease -up 5/1/2025 One Building Occupancy Placed in service - 1st Building 5/1/2025 One Building Occupancy Placed in service - Last Building 5/1/2025 One Building Attachment 3 Page 119 of 141 Attachment 3 Page 120 of 141 Project Summary Project Name Springfield Apartments Project Type select X for each applicable -- Acq/Rehab X New Construction -- Rehab -- Preservation Number of Units 39 figures* based on: *specified in row 5 "pro forma type": Overall Costs Total Acquisition Construction Development Date 11/14/2022 Pro Forma Type: (A) Original Application % of Total Costs Project Square Feet total % Residential 22,764 91.9% Common Space 2,000 8.1% Commercial 0 0.0% Total Res Sq Ft _24,764 100.0% Total I 24,764 -- (A) Original Application 1- Total Costs Cost / Unit Cost / Res Sq Ft % of Total Costs $12,028,853 $308,432 $485.74 - $610,140 $15,645 $24.64 5.1% $7,405,487 $189,884 $299.04 61.6% $4,013,226 $102,903 $162.06 33.4% Development & Construction Cost / Unit Type Construction Costs Dev & Const tot so ft tot units cost/unit 0 bedroom 3,880 10 $202,554 1 bedroom 13,754 23 $299,385 2 bedroom 5,130 6 $417,888 3 bedroom 0 0 - 4 bedroom 0 0 - 5 bedroom 0 1 0 1- Total Construction Costs minus GC/O/P Total Builder GC/O/F Builder General Conditions Builder Overhead Builder Profii Construction Contingency Development Costs Architect's Fee Development Contingency Common Areas: 2,000 $51 Development & Construction Costs $11,418,713 Dev & Const Cost / Res Sq Ft: $461 Total Costs Cost / Unit Cost / Res Sq Ft $6,605,189 $169,364 $266.73 $800,298 $20,520 $32.32 $449,032 $11,514 $18.13 $0 $0 $0.00 $351,266 $9,007 1 $14.18 $308,282 $7,905 1 $12.45 Total Costs Cost / Unit % Construction $300,000 $7,692 4% Total Costs % of Development Cost / Unit $100,000 2.6% $2,564 Summary AttachmerIQIR 21 of 141 Project Name Springfield Apartments Date 11/14/2022 Developer Fee Consultant Fee Minimum Required non-profit share of Developer Fee (If Applicable) Total Developer Fee Total Deferred Fee Total Cash Developer Fee Operating Income & Expense: Income: EGI without OAHTC EGI with OAHTC Expenses: Total Op Expenses / Unit Less Property Tax / Unit Less resident services / Unit Net Op Exp/Unit On Site Mgmt Fee / Unit Off Site Mgmt Fee / Unit Total Mgmt Fee / Unit Maintenance & Repairs / Unit Replacement Reserve Net Operating Income: Net Operating Income without OAHTC Net Operating Income with OAHTC Debt Coverage Ratio: Primary DCR without OAHTC Primary DCR with OAHTC Total DCR without OAHTC Total DCR with OAHTC Cash Flow: Primary Cash Flow without OAHTC Primary Cash Flow with OAHTC Total Cash Flow without OAHTC Total Cash Flow with OAHTC Total % of Total Cost / Unit $850,000 8% $21,795 $850,000 8% $21,795 $425,000 4% $10,897 $1,700,000 17% $43,590 $358,840 1 4% $9,201 $1,341,160 1 13% $34,389 Total Percent of EGI $ / Unit $422,735 -- $10,839 Total / Unit $6,000 -- Percent of EGI w/o OAHTC 1.4% $0 Percent of EGI w OAHTC 0.0% $0 0.0% 0.0% $415 0.1% 0.0% $5,584 1.3% 0.0% #REF! 0.0% $0 $967 0.2% 0.0% $664 0.2% 0.0% $1,632 0.4% 0.0% $359 0.1% 0.0% $450 0.1% 0.0% Total Percent of EGI $ / Unit $188,741 44.6% $4,840 0.0% $0 Total 1.20 1.07 Total Percent of EGI $ / Unit $31,991 7.6% $820 #REF! 0.0% $0 $11,549 2.7% $296 #R F! 0.0% $0 Summary Attach merltVIR22 of 141 Project Name Springfield Apartments Date 11/14/2022 Summary Attach mer=311J A23 of 141 SOURCES OF FUNDING Project Name: Springfield Apartments Date: 11/14/2022 RESIDENTIAL HOME Funding Source Match Initial Carryover Final Status (select) Application Application OHCS GRANTS & EQUITY LIHTC Equity OHCS Small Projects NOFA Total OHCS Grants & OHCS LOANS Tax Exempt Bonds $6,750,000 I Total OHCS Loans $0 NON -OHCS GRANTS (list) CDBG $641,000 Total NON -OHCS Grantsl $641,000 �OANS (list as applicable) Eugene/ Springfield HOME $2,054,013 Permanent Loan (Key Bank) 1 $2,225,000 Total NON -OHCS Loans APPLICANT CONTRIBUTIONS (list additional as Cash F Deferred Development Fee Total Applicant Contributions $358,84 OTHER: (list additional as applicable) Total Other Funds $ TOTAL FUND SOURCES $12,028,853 (original) Surplus or Gap $0 Other OHCS non -equity sources: Oregon Affordable Housing Tax Credit (OAHTC) Construction bridge loan Predevelopment Loan $0 $0 (Note: Total Fund Sources must match 'Total Project Cost' from Uses of Funding page.) (loan amount from OAHTC worksheet) (enter loan amount) Ifi(loan amount) Sources Attachment13/Rpg_e 124 of 141 COMMERCIAL Anticipated or Anticipated or Firm CommercialFirm CommitmentCommercial Commitment Date Date $0 $0 (Note: Total Fund Sources must match 'Total Project Cost' from Uses of Funding page.) (loan amount from OAHTC worksheet) (enter loan amount) Ifi(loan amount) Sources Attachment13/Rpg_e 124 of 141 Project Name: A=J Springfield Apartments Acq/Rehab Number of Units: 39 Total / Summary Costs Based on: IRS Set-aside Residential Summary: Residential Unit Square Footage: 22,764 Total Cost: Residential Common Areas: 2,000 Cost / Uni Commercial/other 1 0 Cost / Res Sq F Total Residential Square Footage: 24,764 % of Total Cost: Total Square Footage: 24,764 COMMERCIAL Total Costs (where applicable) COSTS: (comm & res; based on pro forma type selection on summary page) Commercial USES OF FUNDS Date: 11/14/2022 Pro Forma Type: (A) Original Application Total Acquisition Construction Development $12.028.853 1 $610.140 1 $7.405.487 $4.013.226 - 1 5.1% 61.6% RESIDENTIAL (A) (B) (C) Original Cost per Carryover % Diff Cost per Final % Diff Cost per onlication Unit Aoolication I (B/A) Unit Aonlication (C/B) Unit 33.4% (A) Original Application As Selected on Summary Page These two columns are for LIHTC APPLICANTS ONLY Estimated Gross Total Estimated Expended by Eliaible Basis Carryover Date Purchase Price: Land $578,140 $578,140 $14,824 -100.0% n/a Improvements $0 $0 Liens and Other Taxes $0 $0 Closing/Recording $0 $0 Extension Fees $0 $0 Other (list below): CS Interest $32,000 $32,000 $821 100.0% $0 $0 $0 $0 $0 Acquisition Costs Subtotal: 1 $610,140 1 $0 $610,140 $15,645 $0 -100.0% $0 - 1 $0 $0 Construction Costs Off-site Work $100,000 $100,000 $2,564 -100.0% $0 On-site Work $492,787 $492,787 $12,636 -100.0% $492,787 Hazardous Materials Abatement $25,000 $25,000 $641 -100.0% $25,000 Demolition $80,000 $80,000 $2,051 -100.0% $80,000 Residential Building $4,506,788 $4,506,788 $115,559 -100.0% $4,506,788 Commercial Space/Building $0 - n/a Common Use Facilities IIW6 $0 - $0 FF&E (Common Area Furnishings) $40,000 $40,000 $1,026 -100.0% $40,000 Internet Wiring & Equipment $0 - $0 Landscaping $101,669 $101,669 $2,607 -100.0% $101,669 Elevator $52,500 $52,500 $1,346 -100.0% $52,500 Laundry Facilities $0 - $0 Storage/Garages $0 - $0 Builder's Risk Insurance 1 $45,000 $45,000 $1,154 -100.0% $45,000 Performance Bond $0 - $0 3rd Party Const. Management $125,000 $125,000 $3,205 -100.0% $125,000 Contingency $308,282 $308,282 $7,905 -100.0% $308,282 General Conditions $449,032 $449,032 $11,514 -100.0% $449,032 Contractor Overhead $0 - $0 Contractor Profit $351,266 $351,266, $9,007 -100.0%, $351,266, Other (list below): Contractors Liability Insurance $111,599 $111,599 $2,862 -100.0% $111,599 Inflation Contingency $308,282 $308,282 $7,905 -100.0% $308,282 Owners Contingency $308,282 $308,282 $7,905 -100.0% $308,282 Uses of Funds Attachment il/R 125 of 141 Project Name: Construction Costs Subtotal: USES OF FUNDS Springfield Apartments Date: 11/14/2022 Pro Forma Type: (A) Original Application $7,405,487 $0 $7,405,487 $189,884 $0 -100.0% $0 -- $7,305,487 $0 Uses of Funds Attachment 13/R 126 of 141 Project Name: Development Costs-- Land Use Approvals Building Permits/Fees System Development Charges Market Study Environmental Report Lead Based Paint Report Asbestos Report Soils Report (Geotechnical) Survey Capital Needs Assessment Marketing/Advertising Insurance OHCS Fees OHCS Const. Inspection OHCS Constr. Analyst Other (list below): HOME Proiect Delivery General Fees Architectural SPD Architectural Review Fee Cost Certification Appraisals Special Inspections/Testing Developer Fee Consultant Fee Rate Lock Fee Other (list below): Landscape Design Traffic Study Energy Consultant Construction Loan Costs/Fees Winder Inspection Fees Lender Title Insurance Lender Legal Fees Loan Fees Loan Closing Fees Property Taxes (Constr Period) Insurance Uses of Funds Attachment i3/R127 of 141 USES OF FUNDS Springfield Apartments Date: 11/14/2022 Pro Forma Type: (A) Original Application $50,000 $50,000 $1,282 -100.0% $50,000 $225,000 $225,000 $5,769 -100.0% $225,000 $372,746 $372,746 $9,558 -100.0% $372,746 $5,000 $5,000 $128 -100.0% $5,000 $10,000 $10,000 $256 -100.0% $10,000 $2,500 $2,500 $64 -100.0% $2,500 $2,500 $2,500 $64 -100.0% $2,500 $10,000 $10,000 $256 -100.0% $10,000 $25,000 $25,000 $641 -100.0% $25,000 $0 - $0 $20,000 $20,000 $513 -100.0% n/a $50,000 $50,000 $1,282 -100.0% $50,000 $101,250 $101,250 $2,596 -100.0% $101,250 $0 - $0 $0 - $0 $25,000 $25,000 $641 -100.0% $25,000 $0 - $0 $0 - $0 $300,000 $300,000 $7,692 -100.0% $300,000 $0 - $0 $200,000 $200,000 $5,128 -100.0% $200,000 $50,000 $50,000 $1,282 -100.0% $50,000 $10,000 $10,000 $256 -100.0% $10,000 $10,000 $10,000 $256 -100.0% $10,000 $30,000 $30,000 $769 -100.0% $30,000 $850,000 $850,000 $21,795 -100.0% $850,000 $850,000 $850,000 $21,795 -100.0% $850,000 $0 - - $0 $15,000 $15,000 $385 -100.0% $15,000 $15,000 $15,000 $385 -100.0% $15,000 $15,000 $15,000 $385 -100.0% $15,000 $5,000 $5,000 $128 -100.0% $5,000 $30,000 $30,000 $769 -100.0% $30,000 $30,000 $30,000 $769 -100.0% $30,000 $10,000 $10,000 $256 -100.0% $10,000 $0 - $0 $0 - $0 $45,000 1 $45,0001 $1,154 -100.0% $45,000 Uses of Funds Attachment i3/R127 of 141 Project Name: Springfield Apartments Bridge Loan Fees Brid a Loan Legal Bridge Loan Trustee Bridoe Loan Underwritin Permanent Loan Fees Perm. Loan Fee Perm. Loan Closing Fees Ta Tax Credit Fee Tax Credit Syndication Fee Tax Credit Cost Certification $0 Tax Credit Legal/Advisor Fee $0 Bond Issuance Fees M M $21,500 $551 $10,000 $256 USES OF FUNDS Date: 11/14/2022 Pro Forma Type: (A) Original Application $0 $0 $0 -100.0% n/a -100.0% n/a Cost of Bond Issuance $0 od Negative Arbitrage (1.50%) $0 J11111Bond �]/a Cost Certification $0 Other (list below): $0 Development Contingency $0 n/a Interest od $100,000 Bridge Loan $150,000 "list $0 $0 Development Contingency Development Contingency$100,000 Contingency Escrow Account (3%) $0 Lease Up / Tenant Relocation Lease Up $75,000 Tenant Relocation $0 Reserves/Cash Accounts Operating Reserve $192,730 Deposit to Replacement Reserves $0 Other $0 $0 $0 WMW$o Development Costs Subtotal: $4,013,226 $0 $4,013,226 1 $102,903 $0 -100.0% $0 $3,543,996 $0 TOTAL PROJECT COST $12,028,853 $0 $12,028,853 1 $308,432 $0 -100.0%1 $0 $10,849,483 $0 Surplus or Gap (original) $0 Surplus or Gap (carry over) Total of the amount to be expended by Carryover Date $0 Surplus or Gap (final) (divided by) Total Residential Project Costs $12,028,853 $100,000 $2,564 $150,000 $3,846 $100,000 $2,564 $75,000$1,923 I $192,730 $4,942 -100.0% $100,000 n/a -100.0% -10 Uses of Funds Attachment iliR 128 of 141 Project Name: USES OF FUNDS Springfield Apartments Date: 11/14/2022 Pro Forma Type: (equals) the Percent of estimated cost expended by Carryover Date Uses of Funds Attachment 13/R 129 of 141 (A) Original Application 0% USES OF FUNDS Project Name: Springfield Apartments Date: 11/14/2022 Pro Forma Type: (A) Original Application (A) (B) (C) Original Carryover Final Application Application Application Developer Fee Percent 16.8% OHCS policy; Total developer fee must be no more than 15% of total Project costs net of developer fee, reserves and cash accounts. Project Development Percentage 33.4% OHCS policy; Development costs can be no more than 30% of total project costs. Development Contingency 2.6% Preference is to be no more than a maximum of 5% Construction Contingency 4.3% OHCS policy; Construction contingency can be no more than 5% for NC, 10% for Rehab. Contractor Profit, Overhead & GC 12.1% OHCS policy maximum, Contractor Profit (8%), Overhead (2%) and General Conditions (6%). Combined can be no more than 14% of construction Construction less Contractor P&O&GC $6,605,189 $0 $0 $10,136,123.0 1 $0.0 1$0.0 Project costs net of developer fee, reserves and cash accounts Uses of Funds Attachment iliR 130 of 141 Project Name: County: Rents based on: select from drop down Unit Unit (BDR # of Size /MGR) Baths 0 BDR 1.0 1 BDR 1.0 2 BDR 1.0 2 BDR 1.0 0 BDR 1.0 HOUSING OPERATING BUDGET - INCOME Springfield Apartments Date: 11/14/2022 LANE I pick from drop down Income Inflation Rate Actual Multifamily Tax Subsidy Incomes pick from drop down Dross Monthly Tenant Net Square Median Program Paid Monthly 1 Feet/ Income Rent Per Utility Rent Per # of Unit % unit Allow Unit Units Pro Forma Type: (A) Original Application 2.00% if you change this income inflation rate from it's default (2%) you must support it in your narrative years 3 4 5 10 15 20 30 388 $837 $42 = 795 X 12 2 = $19,080 $19,462 $19,851 $20,248 $20,653 $22,802 $25,176 $27,796 $33,883 _ 598 $896 $46 = 850 X 12 23 = $234,600 $239,292 $244,078 $248,959 $253,939 $280,369 $309,550 $341,768 $416,613 855 $1,075 $56 = 1,019 X 12 3 = $36,684 $37,418 $38,166 $38,929 $39,708 $43,841 $48,404 $53,442 $65,145 855 $1,143 $56 = 1,087K 12 �,X 3 = $39,132 $39,915 $40,713 $41,527 $42,358 $46,766 $51,634 $57,008 $69,492 388 $697 $42 = 655 12 8 = $62,880 $64,138 $65,420 $66,729 $68,063 $75,147 $82,969 $91,604 $111,665 Total Residential Square Feet 22,764 = 0 X12 = $0 $0 $0 $0 $0 $0 $0 $0 $0 = 0 X12 = $0 $0 $0 $0 $0 $0 $0 $0 $0 = 0 X12 = $0 $0 $0 $0 $0 $0 $0 $0 $0 = 0 X12 = $0 $0 $0 $0 $0 $0 $0 $0 $0 = 0 X12 = $0 $0 $0 $0 $0 $0 $0 $0 $0 = 0 X12 = $0 $0 $0 $0 $0 $0 $0 $0 $0 = 0 X12 = $0 $0 $0 $0 $0 $0 $0 $0 $0 = 0 X12 = 0 X12 = $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 SUB -TOTALS 391 1 $392,376 1 $400,224 1 $408,228 1 $416,393 1 $424,720 1 $468,926 1 $517,732 1 $571,618 1 $696,799 Total Annual Income Site-based rental assistance: Site-based rental assistance: $52,608 $53,660 $54,733 $55,828 $56,945 $62,871 $69,415 $76,640 $93,424 Service Revenue: Other: $0 $0 $0 $0 $0 $0 $0 $0 Otha_r RPVPn11P- Laund $0 $0 $0 $0 $0 $0 $0 $0 Garage/Parking $0 $0 $0 $0 $0 $0 $0 $0 Deposits on Turnover $0 $0 $0 $0 $0 $0 $0 $0 Cable TV $0 $0 $0 $0 $0 $0 $0 $0 Interest Income $0 $0 $0 $0 $0 $0 $0 $0 Application Fees $0 $0 $0 $0 $0 $0 $0 $0 Internet Access Fees $0 1 $0 1 $0 1 $0 1 $0 1 $0 1 $0 1 $0 Other: $0 I $0 I $0 I $0 I $0 I $0 I $0 1 $0 Income Attachment;i/RN:Q 131 of 141 SUB -TOTAL OTHER REVENUE 1 $52,608 1 $53,660 1 $54,733 1 $55,828 1 $56,945 1 $62,871 1 $69,415 1 $76,640 $93,424 Gross Income: 1 $444,984 $453,884 $462,961 $472,221 $481,665 $531,797 $587,147 $648,258 $790,222 Less Vacancy Rate 5.0% 1 ($22,249) ($22,694) ($23,148) ($23,611) ($24,083) ($26,590) ($29,357) ($32,413) ($39,511) select vacancy rate from drop down; if you change from it's default (7%) you must support it in your narrative Effective Gross Income: 1 $422,735 1 $431,189 1 $439,813 1 $448,610 1 $457,582 1 $505,207 1 $557,790 1 $615,845 $750,711 Income Attachment;i/RN:Q 131 of 141 - HOUSING OPERATING BUDGET - EXPENSES Project Name: Springfield Apartments Date: 11/14/2022 Pro Forma Type: (A) Original Application Expense Inflation Rate: 3.00% if you change this expense inflation rate from it's default (3%) you must support it in your narrative Enter annual expense for ALL units below FUnit nnualper 1 2 3 4 5 10 Insurance $423 1 $16,500 $16,995 $17,5051 $18,0301 $18,5711 $21,52 Utilities .(common areas) 15 1 20 1 30 Property Management: On-site Contracted Professional Services: Gas/Oil $0 $ - $0 $0 $0 $0 $0 $0 $0 $0 Case Management Electric $301 $ 11,750 $12,103 $12,466 $12,840 $13,225 $15,331 $17,773 $20,604 $27,690 $38 Water & Sewer $603 $ 23,500 $24,205 $24,931 $25,679 $26,449 $30,662 $35,546 $41,207 $55,379 $8,500 Garbage Removal $256 $ 10,000 $10,300 $10,609 $10,927 $11,255 $13,048 $15,126 $17,535 $23,566 $1,004 Cable TV $0 $ - $0 $0 $0 $0 $0 $0 $0 $0 Repairs & Maintenance $359 $ 14,000 $14,420 $14,853 $15,298 1 $15,757 1 $18,267 1 $21,176 $24,549 $32,992 Landscape Maintenance $346 $ 13,500 $13,905 $14,322 $14,752 $15,194 $17,614 $20,420 $23,672 $31,814 Replacement Reserve $450 $ 17,550 $18,077 $18,619 $19,177 $19,753 $22,899 $26,546 $30,774 $41,358 Property Management: On-site Contracted Professional Services: Other: (list Asset Mgmt Fee Total Annual Operating Expenses: 1 $6,000 1 $233,9941 $241,0141 $248,2441 $255,6921 $263,3621 $305,3091 $353,9371 $410,310 $551,422 Expenses 11/15/2022 Attachment 3 Page 132 of 141 Resident Services $415 $16,200 $16,686 $17,187 $17,702 $18,233 $21,137 $24,504 $28,407 $38,176 Case Management $0 $0 $0 $0 $0 $0 $0 $0 $0 Legal $38 $1,500 $1,545 $1,591 $1,639 $1,688 $1,957 $2,269 $2,630 $3,535 Accounting $218 $8,500 $8,755 $9,018 $9,288 $9,567 $11,091 $12,857 $14,905 $20,031 Compliance Monitoring Fees $25 $975 $1,004 $1,034 $1,065 $1,097 $1,272 $1,475 $1,710 $2,298 Office & Administration $308 $12,000 $12,360 $12,731 $13,113 $13,506 $15,657 $18,151 $21,042 $28,279 Advertising/Marketing & Promotion $64 $2,500 $2,575 $2,652 $2,732 $2,814 $3,262 $3,781 $4,384 $5,891 Unit Turnover $141 $5,500 $5,665 $5,835 $6,010 $6,190 $7,176 $8,319 $9,644 $12,961 Taxes(non-real estate) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Real Estate Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 Payroll Taxes $35 $1,377 $1,418 $1,461 $1,505 $1,550 $1,797 $2,083 $2,415 $3,245 Internet Connection Fee $128 $5,0001 $5,1501 $5,3051 $5,4641 $5,6281 $6,524 $7,5631 $8,7681 $11,783 Other: (list Asset Mgmt Fee Total Annual Operating Expenses: 1 $6,000 1 $233,9941 $241,0141 $248,2441 $255,6921 $263,3621 $305,3091 $353,9371 $410,310 $551,422 Expenses 11/15/2022 Attachment 3 Page 132 of 141 Expenses 11/15/2022 Attachment 3 Page 133 of 141 HOUSING OPERATING BUDGET - EXPENSES Project Name: Springfield Apartments Date: 11/14/2022 Pro Forma Type: (A) Original Application Expense Inflation Rate: 3.00% if you change this expense inflation rate from it's default (3%) you must support it in your narrative Enter annual expense for ALL units below • . - . - Annual per Unit 1 2 3 4 5 10 15 20 30 Permanent loan (no OAHTC) Amortization Rate (Years) Loan Amount 6.25% 35 $2,225,000 $4,019 $156,749 $156,749 $156,749 $156,749 $156,749 $156,749 $156,749 $156,749 $156,749 OAHTC loan scenario OAHTC Permanent loan Amortization Rate (Years) Loan Amount #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! Portion of perm loan w/o OAHTC (if applicable) Loan Amount Amortization (minus OAHTC Rate (Years) portion) #REF! I #REF! #REF! $0 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! Other Loans / Deferred Fee Deferred Developer Fee Amortization Rate (Years) Loan Amount 0.00% 20 $408,843 $524 $20,442 $20,442 1 $20,442 1 $20,4421 $20,442 1 $20,442 1 $20,442 1 $20,442 1 $0 Other Loans (HOME Loan, Partnership Loans) & Cash flow Loans Amortization Rate (Years) Loan Amount $0 $0 $0 $0 $0 $0 $0 $0 1 $0 $0 $0 1 $0 $0 $0 1 $0 $0 1 $0 1 $0 1 $0 $0 $0 1 $0 $0 $0 1 $0 $0 1 $0 1 $0 1 $0 $0 Expenses 11/15/2022 Attachment 3 Page 133 of 141 WITH OAHTC Effective Gross Income: Total Annual Operating Expenses: Net Operating Income: Primary Debt Service Total Debt Service: Cash Flow Per Year Primary: Cash Flow Per Year Total: Primary Debt Coverage Ratio: Total Debt Coverage Ratio: Expenses Annual per Unit 1 HOUSING OPERATING BUDGET - EXPENSES 3 4 5 10 Project Name: Springfield Apartments - #REF! Date: 11/14/2022 #REF! #REF! #REF! #REF! #REF! $6,000 $233,994 $241,014 Pro Forma Type: (A) Original Application $305,309 $353,937 $410,310 - Expense Inflation Rate: 3.00% if you change this expense inflation rate from it's default (3%) you must support it in your narrative #REF! #REF! #REF! #REF! $0 Enter annual expense for ALL units below #REF! #REF! #REF! #REF! #REF! #REF! • . - . - Annual per #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! - #REF! Unit 1 2 3 4 5 10 15 20 30 WITHOUT OAHTC Annual per #REF! #REF! #REF! #REF! Unit 1 2 3 4 5 10 15 20 30 Effective Gross Income: $10,839 $422,735 $431,189 $439,813 $448,610 $457,582 $505,207 $557,790 $615,845 $750,711 Total Annual Operating Expenses: $6,000 $233,994 $241,014 $248,244 $255,692 $263,362 $305,309 $353,937 $410,310 $551,422 Net Operating Income: $4,840 $188,741 $190,176 $191,569 $192,918 $194,219 $199,898 $203,853 $205,535 $199,289 Primary Debt Service $4,019 $156,749 $156,749 $156,749 $156,749 $156,749 $156,749 $156,749 $156,749 $156,749 Total Debt Service $4,543 $177,192 $177,192 $177,192 $177,192 $177,192 $177,192 $177,192 $177,192 $156,749 Cash Flow Per Year Primary: $820 $31,991 $33,426 $34,820 $36,169 $37,470 $43,149 $47,103 $48,785 $42,540 Cash Flow Per Year Total: $296 $11,549 $12,984 $14,377 $15,726 $17,028 $22,707 $26,661 $28,343 $42,540 Primary Debt Coverage Ratio 1.20 1 1.201 1.211 1.22 1.23 1.241 1.281 1.30 1.31 1.27 Total Debt Coverage Ratio 1.07 1 1.071 1.071 1.081 1.091 1.101 1.131 1.15 1.16 1.27 WITH OAHTC Effective Gross Income: Total Annual Operating Expenses: Net Operating Income: Primary Debt Service Total Debt Service: Cash Flow Per Year Primary: Cash Flow Per Year Total: Primary Debt Coverage Ratio: Total Debt Coverage Ratio: Expenses Annual per Unit 1 2 3 4 5 10 15 20 - #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $6,000 $233,994 $241,014 $248,244 $255,692 $263,362 $305,309 $353,937 $410,310 - #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $524 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! - #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! - #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 11/15/2022 Attachment 3 Page 134 of 141 Utility Allowance Project Name: Springfield Apartments Pro Forma Type: Date: 11/14/2022 (A) Original Application Utilities Specify choose from drop down menu fill in the dollar amounts in cells below Type of Utility Owner or Tenant (Gas, elec., Oil, etc.) Paid 0 BDRM 1 BDRM 2 BDRM 3 BDRM 4 BDRM 5 BDRM Heating Electric Tenant Paid $6 $8 $10 Lighting Electric Tenant Paid $7 $8 $11 Electric Tenant Paid $22 $23 $25 Air Conditioning Electric Tenant Paid $2 $2 $3 Cooking Electric Tenant Paid $5 $5 $7 Hot Water Water Owner Paid Sewer Owner Paid Trash Removal lOwner Paid Total Utility Allowance Source of Utility Allowance Calculation: Local Housing Authority Utility Company Other $42 $46 $56 $0 below & attach a HUD Utilitv Allowance Calculator $0 $0 If allowances are calculated by other methods, attach the appropriate schedule and include unit rents, number of bedrooms, and allowances Utility Allowance Attach merY1M13335 of 141 ��l Project Name: Commercial Income: Other: Other: Other: Other: Other: Other: List Commercial Operating Budget Income Springfield Apartments Annual Inflation Rate Factor: 2.0% $0 $0 $0 $0 $0 $0 $0 $0 vacancy rate Date: ######## if you change this expense inflation rate from it's default (2%) you must justify it in your narrative T $0 $0 $0 $0 $0 $0 $0 years 1 2 3 4 5 10 15 20 25 30 _ $0 $0 $0 $0 $0 $0 $0 $0 $0 _ $0 $0 $0 $0 $0 $0 $0 $0 $0 _ $0 $0 $0 $0 $0 $0 $0 $0 $0 _ $0 $0 $0 $0 $0 $0 $0 $0 $0 _ $0 $0 $0 $0 $0 $0 $0 $0 $0 _ $0 $0 $0 $0 $0 $0 $0 $0 $0 _ $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Commercial Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 vacancy rate Less Vacancy Rate 10.0% $0 T $0 T $0 T $0 $0 $0 $0 $0 $0 $0 if you change this expense inflation rate from it's default (10%) you must justify it in your narrative Effective Gross Income $0 $0 $0 $0 $0 $0 I $0 $0 $0 $0 Comm Income Attach mer1n31BAlZj1RA36 of 141 Project Name Expense Inflation Rate Insurance Utilities:(common areas) I COMMERCIAL OPERATING BUDGET - EXPENSES Springfield Apartments Date: 11/14/2022 Pro Forma Type: (A) Original Application ' 3.00% Enter annual expense for ALL units below 1 1 2 1 3 4 I 5 I 10 Property Ion -site I 1 $01 $01 $01 $01 $01 $01 $01 $01 Contracted (Off -Site) I 1 $0 $0 $0 $0 $0 $0 $0 $0 Professional Services: Gas/Oil $0 $0 $0 $0 $0 $0 $0 $0 Electric $0 $0 $0 $0 $0 $0 $0 $0 Office & Administration Water & Sewer $0 $0 $0 $0 $0 $0 $0 $0 $0 Garbage Removal $0 $0 $0 $0 $0 $0 $0 $0 Repairs $0 $0 $0 $0 $0 $0 $0 $0 General Maintenance $0 $0 $0 $0 $0 $0 $0 $0 Landscape Maintenance $0 $0 $0 $0 $0 $0 $0 $0 Replacement Reserve 1 $0 $0 $0 $0 $0 $0 $0 $0 Property Ion -site I 1 $01 $01 $01 $01 $01 $01 $01 $01 Contracted (Off -Site) I 1 $0 $0 $0 $0 $0 $0 $0 $0 Professional Services: Other: (list below) $o $0 $o $o $o $o $o $0 $o $o $o $o $o $o $01 $o Total Annual Operating Expenses: I $0 1 $0 $0 $0 $0 $0 $0 $0 $0 CommExpenses 11/15/2022 Attachment 3 Page 137 of 141 Legal $0 $0 $0 $0 $0 $0 $0 $0 Accounting $0 $0 $0 $0 $0 $0 $0 $0 Office & Administration $0 $0 $0 $0 $0 $0 $0 $0 Advertising/Marketing & Promotion $0 $0 $0 $0 $0 $0 $0 $0 Turnover $0 $0 $0 $0 $0 $0 $0 $0 Taxes(non-real estate) $0 $0 $0 $0 $0 $0 $0 $0 Real Estate Taxes $0 $0 $0 $0 $0 $0 $0 $0 Payroll Taxes $0 $0 $0 $0 $0 $0 $0 $0 Other: (list below) $o $0 $o $o $o $o $o $0 $o $o $o $o $o $o $01 $o Total Annual Operating Expenses: I $0 1 $0 $0 $0 $0 $0 $0 $0 $0 CommExpenses 11/15/2022 Attachment 3 Page 137 of 141 COMMERCIAL OPERATING BUDGET - EXPENSES Project Name: Springfield Apartments Date: 11/14/2022 Pro Forma Type: (A) Original Application Expense Inflation Rate: 3.00% Enter annual for ALL units below Nomanent I Rate Term (Years) Loan Amount $0 I sol sol sol sol sol sol sol $0 Other Loans / Deferred Fee Deferred Developer Fee Rate Term (Years) Loan Amount $0 I sol sol sol sol sol sol $0 $0 Amortized Debt (HOME Loan, , Partnership Loans, etc.) & Cash flow Loans Rate Term Years Loan Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 CommExpenses 11/15/2022 Attachment 3 Page 138 of 141 COMMERCIAL OPERATING BUDGET - EXPENSES Project Name: Springfield Apartments Date: 11/14/2022 Pro Forma Type: (A) Original Application Expense Inflation Rate: 3.00% Enter annual expense for ALL units below Operating Expenses year: Effective Gross Income: Total Annual Operating Expenses: Net Operating Income: Primary Debt Service Total Debt Service Cash Flow Per Year Primary: Cash Flow Per Year Total: Primary Debt Coverage Ratio Total Debt Coverage Ratio CommExpenses 1 1 $0 2 2 $0 3 3 $0 4 1 4 $0 5 5 $0 10 10 $0 15 15 $0 20 20 $0 30 30 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 1 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 11/15/2022 Attachment 3 Page 139 of 141 Form 9 If any individual or entity for the Project is Controlled By, In Control Of, Affiliated With, a Related Party to, or has an Identity of Interest with any of the other individuals or entities for the Project, mark each applicable box with an "X." If there is an "X" marked for any of the individuals or entities for the Project, include a detailed description of the relationships between the parties. Project Sponsor/Developer General Partner(s) Party(ies) to a Joint Venture Managing Member(s) of LLC Company Member(s) and/or Manager(s) of LLC Seller/Lessor of Land or Building(s) included in Project General Contractor(s) Project Management Consultant(s) Engineer(s) Architect(s) Subcontractor(s) Material Supplier(s) Attorney(s) Accountant(s) Lender(s) Property Manager(s) Syndicator(s) Board Member(s) Other: Other: r C W a L O /:41 L O i LO O C O ' CL co U N �O d U J J O E N O) c CU C CU 2 J J O L CU C CU O a C CU N E N c CU Q- E E O U T Attachment 3 Page 140 of 141 w c L 0 E c O C C Q o L Q� L O J o E U N CU c 70- a) m � in O N C� U L m _ O o C: v O m L a U U O- w a) Um C U C U) 2 ° m m CU Attachment 3 Page 140 of 141 w c E c O C Q o Q� L O J o E d N g c m � O m Explanation of identified Identities of Interest: Attachment 3 Page 141 of 141