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HomeMy WebLinkAbout06-17-2004 Housing & Community Development CommissionAGENDA HOUSING AND COMMUNITY DEVELOPMENT COMMISSION LOBBY CONFERENCE ROOM, CIVIC CENTER THURSDAY, JUNE 17, 2004 6:30 P.M. 1. Call Meeting to Order 2. Approval of the May 20, 2004 Minutes 3. Public/Member Comment of Items Not on the Agenda 4. Old Business • Update of Prairie Garden L.P. Project • Community and Economic Development Celebration Update 5. New Business • Discussion of the Iowa Finance Authority's Qualified Allocation Plan for the administration of Federal Low Income Housing Tax Credit (LIHTC) Program 6. Monitoring Reports • Habitat for Humanity (Greazel) • CDBG Economic Development Fund (Edwards) 7. Adjournment MINUTES PRELIMINARY HOUSING AND COMMUNITY DEVELOPMENT COMMISSION MAY 20, 2004 — 6:30 P.M. LOBBY CONFERENCE ROOM, CITY HALL Members Present: Jerry Anthony, Erin Barnes, Lori Bears, Matthew Hayek, Shellie Mackel, Jayne Sandler Members Absent: John Death, Mark Edwards, William Greazel Staff Present: Tracy Hightshoe, Stephen Long Public Present: Robert Burns, Charles Eastham CALL TO ORDER Chairperson Hayek called the meeting to order at 6:40 PM CONSIDERATION OF THE MINUTES OF THE APRIL 15, 2004 MEETING Motion: Sandler moved to approve the minutes as presented; Anthony seconded the motion. All in favor; motion passed 6-0. PUBLIC COMMENT OF ITEMS NOT ON THE AGENDA None. NEW BUSINESS Review of Allocation Process — Chairperson Hayek asked members to consider whether a subcommittee should be created to look at ways to improve the allocation process or whether they should have discussion now and forward suggestions without creating a subcommittee. He asked if anyone had suggestions regarding the schedule, the visits or the format of applications. Mackel said the visits were helpful, but Sandler asked if there could be more time for making visits prior to the allocation process. Chairperson Hayek suggested moving up the date of application to allow more time to schedule visits. Sandler also commented that something needed to be in place to help first time applicants understand the process better, such as a required counseling session. Long noted that some entitlement communities require attendance at a workshop. Chairperson Hayek suggested a one-time hour-long training session for new applicants. Sandler suggested that videotaping the process and making it available to new applicants to review might be helpful in easing their anxieties and increasing their understanding of the process. Chairperson Hayek also observed that applicants often list items on the application that have little relevance to what they are applying for in terms of the budget, which is confusing. Long suggested that the question on the application be clarified. Summer Schedule — Chairperson Hayek stated that one meeting in the summer is typically skipped and asked if members had a preference. Hightshoe observed that the HCDC celebration would take place on the third Thursday in July and that the July meeting could be held shortly before or after the celebration or skipped. Long observed that August was historically the month taken off by the Commission. It was decided that the meeting in August would be skipped and that a short meeting would be held on the third Thursday of July to coincide with the celebration. Upcoming HCDC Appointments — Chairperson Hayek stated that the terms of Lori Bears, John Deeth and himself expire September 1, 2004. Bears and Chairperson Hayek will reapply to continue their terms, but it is unclear whether Death will reapply. Chairperson Hayek asked members to encourage qualified individuals they know to apply. It was noted that the applications are due on June 9, 2004. OLD BUSINESS Discussion of National Community Development Week Celebration — Hightshoe stated that the celebration would be held on Thursday, July 15, 2004 from 4:30 — 6 PM at the Rack. It is HUD's 30-year anniversary of CDBG Funds. She said there are several big projects in the works. Possible contributions Housing and Community Development Commission Minutes May 20, 2004 Page 2 to the Celebration include an art gallery of local student work and a basketball tournament. A speaker is being sought for the event, and awards will be presented. Hightshoe mentioned that banks will be approached for $100-$200 food donations. Burns & Burns L.C. — Garden Prairie — Discussion of FY03 HOME Funds — Chairperson Hayek stated that everyone should have a memo from the City Staff regarding the Garden Prairie issue that was tabled in April's meeting to await the outcome of the FY04 appeal with IFA, which was also denied in April. Burns stated that the last family tax credit project built in Iowa City was placed in service in 1992. Since then they have made several attempts at joint ventures with the Greater Iowa City Housing Fellowship to rezone properties as multi -family, but these were denied. They then decided to use the strategy of scattered site housing and buy duplex lots for the Prairie Garden project. However, they ran into problems obtaining the land, which led to the application to HCDC to acquire the land. They currently have seven duplex lots on which to build 14 duplexes. Burns stated that their application for tax credits was denied because they did not score high enough on the Qualified Allocation Plan (QAP), which is the guideline IFA uses to fund projects. The QAP changes every year, and this contributed to the denial of their appeal. Burns recommended that a subcommittee be formed to meet with IFA before they develop the QAP this year to ensure Iowa City's fair share of family housing. Burns added that Des Moines consistently receives family housing while Iowa City does not. Burns stated that another obstacle to obtaining tax credits was the fact that a cost cap was instituted (the 221 D-3 mortgage limits) which uses mortgage limits for buildings that do not include duplex units. Burns offered to give back the funding received from HCDC but reiterated that in order to have family housing built with the low-income housing tax credit, members of HCDC need to meet with Michael Tramontina this summer before the QAP comes out in June or July. Chairperson Hayek was hesitant to discuss the formation of a subcommittee without it first appearing on the agenda to allow the public the opportunity to voice their opinion on the subject. Members discussed this and agreed that it should be discussed at the June meeting. Sandler asked Burns if any other alternatives had been considered. Burns stated that a possibility would be to use tax-exempt bonds to finance the property, since there is an automatic allocation of 4% tax credit that does not require any application for tax credits. However, Burns noted that this alternative still needs to be considered to see if it is economically feasible. Hightshoe explained that HCDC's current policy for unsuccessful or delayed projects requires the recapture of all CDBG/HOME funds after two unsuccessful application rounds for Low -Income Housing Tax Credits (LIHTC). This policy was adopted after MetroPlains Development was unsuccessful after two rounds in securing LIHTCs and the commission voted to recapture the funds. Discussion followed regarding the policy relative to the Prairie Garden project. Chairperson Hayek summarized the situation, stating that although the recapture policy technically does not apply to the FY03 funds, a consistent message needed to be sent to applicants that funds will be recaptured if they have not resulted in actual units with people living in them after a certain period. Mackel asked Burns what his plans were for the project if funds were not recaptured. Burns replied that they would first look at private activity bonds, but if that is not feasible, they would apply for tax credits for FY05 and work on IFA one more time to change the scoring and revise cost caps to cover duplexes. Discussion followed of possible solutions other than recapturing funds by reselling the lots, which likely would not be available again for affordable housing. Motion: Sandler moved to allow Burns & Burns up to 60 days to pursue other alternatives to low- income tax credits (i.e. private activity bonds, partnership with other affordable housing developers) for affordable home ownership in order to continue with FY03 development. Barnes seconded the motion. All in favor; motion passed 6-0. MONITORING REPORTS Elder Services Inc. — Small Repair Program — Mackel reported that services have picked up in 2 different areas: 1) the home safety assessment program does 3-4 inspections per week with each taking 2 hours to look for accessibility and other safety issues; they have 300 people in case management and currently serve about 95 of them; 2) mobile home repair does structural repairs but is busiest with air conditioning repair right now as there are many people with health problems such as asthma; they have spent down $17,000 and served 40 households, receiving several calls a day. Housing and Community Development Commission Minutes May 20, 2004 Page 3 Community Mental Health Center — Facility Rehabilitation — Mackel reported that their original application was to convert their basement for medical storage, but this was started early in order to comply with HIPAA regulations. With the City's approval, the money was used instead to rehab the old medical file storage facility and client service space to provide better accommodations for client services. Money was spent for a furnace and carpeting. $200 remains and will be used to buy exterior paint. Shelter House — Outreach Coordinator — Sandler reported that funding has been spent to hire an outreach coordinator who handles a caseload of 9 (it varies with the time of year), helping with the facility as well as a variety of services involving mental health, medication, and employment. Maximum stay at the Shelter House is 90 days, but the average stay is about 45 days depending on the length of time it takes individuals to afford their own place. Free Medical Clinic — Case Management — Deeth was not present to report, but Sandler stated that last year the case management position was responsible for about 50 cases and that the case load is growing. City of Iowa City — Housing Rehabilitation — Barnes reported that the Housing Repair Program (in place since 1977) is directed at owner occupied units within Iowa City. She stated that there are certain priorities that are assigned a point value that partly determines a person's standing on the wait list. These priorities include the following: income level ($55,800 for a family of four), elderly status, handicap/disabled status, family status, self-sufficiency efforts and the date of the application. There are currently 52 people on the wait list. The program helps people with roofing, siding, painting, concrete, windows, doors, heating, flooring, electrical, plumbing, plaster and drywall. The program also makes modifications to homes to accommodate people with disabilities. People are generally satisfied with the program though some have voiced frustration regarding the amount of regulations that can drive up the overall cost. The money for repair projects is given as a loan and must be paid back by the occupants but generally not until the house is sold. HACAP — Transitional Housing — Hightshoe reported that two units were purchased at the beginning of the fiscal year for transitional housing. One of the units is located near Westwinds Drive, the other in the Saddlebrook area. Sandler asked who covers the condo fee. Hightshoe responded that HACAP owns the condos and therefore covers the fee while charging rent based on the tenants' ability to pay. For this reason, the rent varies but must be at least $25 with a two-year maximum for the tenants, who must be part of the counseling program. Greater Iowa City Housing Fellowship — Peninsula Affordable Rental — Eastham reported that construction has begun on all of the units, including two duplexes, a townhouse and an apartment complex. The project will be finished by the end of winter. Chairperson Hayek asked what the additional cost was to the developer to build affordable housing under the stricter architectural guidelines. Eastham speculated that it was several thousand dollars per unit. The total cost of the duplex and town house units, including the housing and fellowship fees, will be about $130,000/unit; the cost of the multiplex (10 units) will be $120,000/unit. The additional cost will apply more to the apartment complex than to the others. Eastham downplayed the effect of the stricter guidelines, stating that it has not been terribly expensive and adding that the land ended up costing them $22,000/unit. Ruby's Pearl — Micro -Enterprise — Long reported that Ruby's Pearl is doing better. Business has been slow since moving from Linn Street to their new location on Market Street. Their clientele has changed dramatically, but they are adjusting to the new market and things are much better after a bleak December. June 1, 2004 is the next deadline for the business to prove they are financially able to begin repaying their loans. Before they can receive additional funding, they must show that they are not in danger of going under and must resume payments based on what they currently owe. ADJOURNMENT MOTION: Sandler made a motion to adjourn; Mackel seconded. All in favor; motion carries 5-0. The meeting adjourned at 8:25 PM. City of Iowa City MEMORANDUM TO: Housing and Community Development Commission FROM: Community and Economic Development Division DATE: June 10, 2004 RE: HCDC Meeting, June 17, 2004 The following is a short description of the June agenda items. If you have any questions about the agenda, or are unable to attend the meeting, please contact Tracy Hightshoe at 356-5244 or by email at tracy-hightshoe@iowa-city.org. Old Business Bums & Burns L.C. — FY03 Garden Prairie (Prairie Garden L.P.) The status of this FY03 project was discussed at the March, April and May HCDC meetings. At the last meeting, the Commission recommended an extension of 60-days to Burns & Burns L.C. to present a plan on how this project may be accomplished without the use of low income housing tax credits. This agenda item provides the Commission an opportunity to hear from Burns & Burns L.C. about the progress they have made in crafting an alternative development plan. Staff will request a representative from Burns & Burns to be present at the meeting to discuss their current plans for this project. National Community and Economic Development Celebration Update The Community and Economic Development Celebration subcommittee has met to discuss proposed dates and, location for the celebration. The subcommittee will provide a brief update. New Business During the Commission's May discussion about the Prairie Garden L.P. project, Burns & Burns L.C. presented information about how the Iowa Finance Authority (IFA) administers the Federal Low Income Housing Tax Credit program. The Commission agreed to place this item on the agenda for the June meeting. Monitoring Reports • Habitat for Humanity —Affordable Homeownership (Greazel) • CDBG Economic Development Program — Small Business Asst. (Edwards) Upcoming HCDC Appointments Lori Bears, John Deeth, and Matt Hayek's term expires September 1, 2004. There were four applications submitted to the City Clerk's Office by the June 9, 2004 deadline. The City Council will be making appointments on June 15. Iowa Finance Authority Low -Income Housing Tax Credit Program 2004 Qualified Allocation Plan SECTION 1. INTRODUCTION AND PURPOSE. 1.1 Creation of Tax Credit Program. Congress created the Low -Income Housing Tax Credit (Tax Credit) Program in 1986. The amount of Tax Credit received is based on the cost of the Project and the number of qualified Low -Income Units, and can be subtracted on a dollar - for -dollar basis from federal tax liability. The Tax Credit is received each year for ten years —the period the Ownership Entity claims the Tax Credit on its federal income tax return. The Iowa Finance Authority (IFA) is the Housing Credit Agency for the State of Iowa and administers the Tax Credit Program to facilitate the development of low-income rental -housing units in Iowa. 1.2 Adoption of a Qualified Allocation Plan. As the Housing Credit Agency responsible for allocating Tax Credits in the State of Iowa, IFA must adopt a written Qualified Allocation Plan (QAP). The purpose of the QAP is to set forth the criteria that IFA will use in evaluating and monitoring Projects submitted to it by the Developer/Ownership Entity for consideration in making an allocation of Tax Credits. The Governor must approve the QAP after the public has had the opportunity to comment through a public hearing. The pertinent statutory provisions applicable to the QAP include 26 USC §42, Iowa Code §§16.1, 16.4 and 16.52 and the various state and federal rules and interpretive documents relating to the Tax Credit Program. 1.3 Purpose of the Tax Credit Program. The purpose of the Tax Credit Program is to provide an incentive to Developers to construct or to acquire or to substantially rehabilitate Qualified Residential Rental Property. The housing that is created throughout the state must include affordable units for low-income individuals and families. These low income individuals or families must have an income that is at 60 percent or below the Area Median Gross Income (AMGI). The units must remain in compliance for a minimum period of 30 years. IFA will select Projects that best meet the overall objectives of the Tax Credit Program. SECTION 2. ADMINISTRATION AND PROCEDURES. 2.1 Documents Incorporated by Reference. The items described in this Section are incorporated by reference in the QAP. The QAP will be deposited in the Iowa State Law Library. Statutory references are available in the Iowa State Law Library. 2.1.1 26 USC Section 42 as amended and the related Treasury regulations in effect as of October 8, 2003. 2.1.2 Iowa Code Section 16.52 and the rules promulgated by IFA to govern the Tax Credit Program in effect on October 8, 2003. 2.1.3 The Compliance Manual adopted by IFA pursuant to 265 IAC 12.3 2.1.4 In the case of any inconsistency or conflict between the items listed in this Section, conflicts shall be resolved as follows: 2.1.4.1 First, by giving preference to IRC Section 42 and the related Treasury regulations; 2.1.4.2 Second, by giving preference to Iowa Code Sections 16.4, 16.52 and the rules governing the QAP; and 8/12/03 2.1.4.3 Third, by giving preference to the QAP. 2.2 Schedule. The Tax Credit Program will follow the schedule published on IFA's web site at http://www.ifahome.com. IFA will have at least one reservation cycle per year. Additional reservation cycles may be made throughout the year at the sole discretion of IFA. 2.3 Tax Credit Amount Available. The amount of Tax Credits available in Iowa in each calendar year reflects the sum of the amounts allowed as the State Tax Credit Ceiling under IRC Section 42(h)(3)(C). This amount may be increased by returned Tax Credits from prior years, Tax Credits allocated to Iowa from the national Tax Credit pool or by new legislation increasing the amount of Tax Credits distributed to each state. Any unallocated or Recovered Tax Credits or a combination of both may be awarded as part of the current year cycle(s) of awards for Tax Credits, or may be carried over to the next year's cycle(s) of awards at the discretion of the Board. 2.4 Tax Credit Cap for Single Developer. IFA will not allocate more than $700,000 in Tax Credits for a single Developer with multiple Projects. However, if one or more of the Projects are in Qualified Census Tracts or Difficult Development Areas this Tax Credit cap may be increased by 30% for appropriately located Projects. A Developer may submit as many Projects as the Developer chooses. IFA will select which Projects are awarded Tax Credits based on the QAP. In the event a Developer is acting as a consultant for a Project and is not the Developer of such Project, the Developer's cap amount will be unaffected. 2.5 Tax Credit Cap for a Single Project. IFA will not allocate more than $500,000 in Tax Credits for a single Project. However, if the Project is in a Qualified Census Tract or Difficult Development Area, this Tax Credit cap may be increased by 30% for appropriately located Projects. 2.6 Non-profit Set -Aside. In accordance with IRC Section 42 and Iowa Code Section 16.52, at least 10 percent of the annual State Ceiling must be set -aside for Qualified Non-profit Organizations that own an interest in and materially participate in the development and the operation of a Project. This Tax Credit amount cannot be used for any other purpose, and any unused Tax Credit portion may be carried over at the end of the allocation year. Any amount of the Tax Credit carried over at the end of the allocation year shall be used to fund Non-profit Projects during the following year. IFA shall allocate Tax Credits from the 10 percent set -aside to Qualified Non-profit Organizations based upon the selection criteria and scoring and other factors described in this QAP. Non-profit Developers shall be scored with all of the for -profit Developers except that the 10 percent Non-profit set -aside shall be available in its entirety until the set -aside is fully allocated. In the event this set -aside is exhausted, Projects proposed for the Non-profit Set -Aside shall be permitted to compete for the remaining annual State Ceiling. 2.7 Service Enriched. IFA will set -aside 30 percent of the annual State Ceiling for Projects in which at least 60% of Low -Income Units are both rent restricted and occupied by individuals whose income is 40% or less of AMGI, and up to 40% of the Low -Income Units are both rent restricted and occupied by individuals whose income is 60% or less AMGI, and have a supportive service plan as outlined in an attachment to the Application. To qualify for this set - aside (1) 25 to 49% of the units must be set -aside for People with Disabilities within an Integrated Setting or a setting that promotes homeownership; or (2) 50 to 100% of the units must be set -aside for People with Disabilities within a Single -Purpose Setting. Any unused Tax Credits remaining from this set -aside may be returned to the general pool and allocated in the current year. IFA shall allocate Tax Credits from this 30 percent set -aside based upon the QAP. Service Enriched Housing Projects shall be scored with all of the Projects except that the 30 percent set -aside shall be available in its entirety until the set -aside is fully allocated. In the event this set -aside is exhausted, Projects proposed for the Service Enriched Housing set -aside 8/12/03 2 shall be permitted to compete in the set -asides that the Project is eligible and for the remaining annual State Ceiling. 2.8 Affordable Assisted Living Set -Aside. IFA will set -aside 10 percent of the annual State Ceiling for Affordable Assisted Living Projects that include Low -Income Units. To qualify for this set -aside in a MSA county, at least 40% of the Low -Income Units must be both rent restricted and occupied by individuals whose income is 40% or less of AMGI. To qualify for this set -aside in a non-MSA county, all Low -Income Units must be both rent restricted and occupied by individuals whose income is 60% or less of AMGI. In addition to the above requirements, the Project must also obtain and retain certification as an Assisted Living program through the appropriate state agency upon Project completion, obtain and retain enrollment as a Medicaid waiver provider or maintain a contract with an enrolled Medicaid waiver provider and have a supportive service plan as outlined in an attachment to the Application. Any unused Tax Credits remaining from this set -aside may be returned to the annual State Ceiling. IFA shall allocate Tax Credits from this 10 percent set -aside based upon the QAP. Affordable Assisted Living Projects shall be scored with all of the Projects except that the 10 percent set -aside shall be available in its entirety until the set -aside is fully allocated. In the event this set -aside is exhausted, Projects proposed for Affordable Assisted Living shall be permitted to compete in the set -asides that the Project is eligible and for the remaining annual State Ceiling. 2.9 Preservation Set -Aside. IFA will set -aside 20 percent of the annual State Ceiling for the preservation of qualifying Projects. Projects applying for this set -aside must be one or more of the following: (1) federal, state, or locally assisted housing preservation including low-income housing units subsidized under the following or similar programs, Section 236; Section 221(d)(3) Below Market Rate (BMIR); Section 221(d)(3) Market Rate with Section 8 rental assistance; HUD developments with Section 8 project -based rental assistance; Section 221(d)(4); and Section 515 Rural Housing Development; (2) adaptive reuse of existing buildings; and (3) conversion of existing market rate developments to affordable housing. In all instances, the Ten Year Rule will apply. Any unused Tax Credits remaining from this set -aside may be returned to the annual State Ceiling. IFA shall allocate Tax Credits from this 20 percent set -aside based upon the QAP. Preservation Projects shall be scored with all of the Projects except that the 20 percent set -aside shall be available in its entirety until the set -aside is fully allocated. In the event this set -aside is exhausted, Projects proposed for the Preservation set -aside shall be permitted to compete in other set -asides that the Project is eligible and for the remaining annual State Ceiling. 2.10 Fees. IFA shall collect the fees described below for the Tax Credit program. Checks for the fees must be made payable to the Iowa Finance Authority. An Application will not be accepted unless the Application fee accompanies the Application. The reservation fee will be due within 10 business days after the date of the Tax Credit Reservation letter. If the reservation fee is not received, IFA may withdraw the reservation of Tax Credits from the Ownership Entity. IFA will not issue a Form 8609 until the compliance monitoring fee is paid in full. All fees are nonrefundable. Fee type All Applicants Application Fee $1,000 Market Study Fee $4,500 Reservation Fee 1 percent of the total ten year Tax Credit amount. Compliance $15 per unit x total compliance period 8/12/03 3 Monitoring (Example: $15 per unit x 24 unit Project x 30 year total compliance period = $10,800 paid in full prior to issuance of 8609) 2.11 Application Process. Upon request, IFA will forward an Application Package that is consistent with the provisions of this QAP to a potential Developer on disk; it is also available on the internet at http://www.ifahome.com. In the event it becomes necessary to amend the Application Package, IFA will post the amended version of the Application Package on its web site at the above address. Developers are advised to check IFA's web site periodically for any amendments or modifications to the Application Package. A Developer's application must include an acknowledgement of any amendments or modifications to the Application Package. As described in Section 5.7, the Developer may elect to have IFA commission a market study prior to the Application due date. If the Developer elects this option, the information required for the IFA commissioned study must be received by IFA by 3:00 p.m. local time, the date it is due. Developers that do not elect to have IFA commission a market study prior to the Application due date will be required to submit the information required for the IFA commissioned market study with the Application. 2.11.1 All Applications must be completed using the Application form provided by IFA. Any substitute Application will disqualify a Project from consideration. Use of prior year or pre -Board approved Application is prohibited. Only one Application will be allowed per Project. 2.11.2 The Developer must submit one original and two complete printed copies of the Application Package by the due date. All three printed copies must be on letter size paper, bound in a three ring binder(s) and all exhibits must be tabbed with the number or letter assigned in the Application. Late filed Applications will be rejected outright and returned to the Developer. An Application will be late if it is not actually received in the offices of IFA by 3:00 p.m. Local Time the date it is due. 2.11.3 No amendments will be accepted to the Developer's Application after the Application due date, except as provided by the QAP. 2.11.4 If a Developer is applying for State HOME funds, the Developer must complete the HOME sections and attach the appropriate information as more fully described in the HOME Application and instructions. IDED and IFA shall appoint a Joint Review Team to review Applications applying for HOME funds and Tax Credits. No additional points will be awarded to a Developer that seeks HOME funding. IDED has the sole and final authority with respect to any award of HOME funds, while IFA has the sole and final authority with respect to any reservation of Tax Credits. IFA may conduct joint reviews with other funding sources such as the Senior Living Trust. 2.12 Contacts with IFA Before the Application is Received. IFA will designate a contact(s) for the Tax Credit program to receive questions before the Applications are due. The contact(s) will be identified on IFA's web site. Questions concerning the QAP and the Application may be addressed in writing to IFA's contact(s) by mail, E-mail, hand delivery or facsimile. Questions received and answers provided by IFA will be posted to IFA's web site, generally on a weekly basis. Individual responses will not be sent to Developers. IFA shall not be bound by any oral representation made in connection with the Application or award of Tax Credit Reservations. 2.13 Contact with IFA After the Application is Received. Once an Application is received by IFA, neither the Developer nor any person on behalf of the Ownership Entity may contact IFA's Board, Evaluators or other IFA staff to discuss the Application or any of its components for the cycle under consideration, except as specifically allowed by the QAP. Any such contact may result in rejection of the Developer's Application. IFA staff or a Developer or their 8/12/03 4 representative may contact each other to discuss matters unrelated to the Tax Credit Application under review. During the evaluation period Applications will not be made available to the public for examination and copying. Following the due date of the Applications and after the information is collected, IFA will post on its web site the aggregate totals of: Applications, dollars requested, units, acquisition/rehab or new, older persons/family, profit or Non-profit, and Applications for set -asides. After the Board approves the selections and reserves Tax Credits, Applications and files are public information and available for inspection and copy in accordance with Iowa Code Chapter 22. Also see Section 2.26. This Section does not preclude IFA from contacting the Developer, as appropriate, for the purpose of conducting a site inspection as more fully described in Section 2.18. 2.14 Notification of Chief Executive Officer —Local Jurisdiction. The Developer will be required to identify the city in which the proposed Project will be located and include the name and address of the chief executive officer of the city. See IRC Section 42(m)(1)(A)(ii). Upon receipt of an Application, IFA will notify the chief executive officer of the city of the proposed Project. This notification will include characteristics of the proposed Project and provide an opportunity for the Governmental Entity to comment on the Project. 2.15 Binding Obligations. The representations made in the Application shall bind the Developer and become a contractual obligation of the Developer and the Ownership Entity and any entity that the Developer or the Ownership Entity is representing in the presentation of the Application or a successor in interest in the event Tax Credits are awarded to a proposed Project. The QAP and the Application with any permitted amendments either prior to the reservation of Tax Credits or after the Carryover Allocation, issuance of Form 8609 or during the Compliance Period and any other agreements executed between IFA and the Ownership Entity shall constitute the agreement between the parties. 2.16 Land Use Restrictive Covenants (aka Land Use Restrictive Agreements (LURA)). The Project shall be subject to the LURA which requires among other things, that the Project will be used for affordable housing for the required 15 year compliance period and the required 15 year extended compliance period. If the Ownership Entity has agreed to extend the time period of affordability, the LURA will reflect the additional Compliance Period. In the event an Ownership Entity receives HOME funding for a Project, the Ownership Entity must enter into a LURA with IFA for the longest Compliance Period required either by the Tax Credit Program or HOME regulations. The LURA shall contain covenants that run with the land requiring that the Property be used as an affordable housing Project until the end of the Compliance Period. The original document must be recorded before a Form 8609 is issued. The LURA must be binding on all successors of the Ownership Entity and run with the land as provided by Section 42(h)(6). Although the LURA will terminate in the event of foreclosure, Section 42(h)(6)(E)(ii) requires that certain limitations as to termination of tenancies and rent increases survive such foreclosure for a period of three years. As a result, all other lenders or prior lien holders must consent to the recording of the LURA as a restrictive covenant encumbering and running with the land and acknowledge and agree that those provisions of the LURA that set forth the requirements of Section 42(h)(6)(E)(ii) of the Code are superior to the lender or lien holder's security interest and shall continue in full force and effect for a period of three (3) years following the date of acquisition of the Project by foreclosure (or instrument in lieu of foreclosure). The Ownership Entity must provide adequate evidence that the LURA is binding on all successors of the Ownership Entity and run with the land. Adequate evidence includes but is not limited to a copy of a final title opinion showing all the current liens against the property or a title guaranty certificate showing exclusions. 2.17 Other Information Sources. IFA may contact other sources to obtain information regarding the materials contained in the Developer's Application to either verify the information 8/12/03 or to obtain independent information regarding a Developer's Project. In the event IFA obtains information from other sources, the information shall be reduced to writing. The information will be available for review after the Applications have been evaluated and Tax Credits have been reserved. 2.18 Site Visits. IFA will make site visits as it deems necessary to review proposed Project sites and verify any of the information provided by the Developer in the Application. IFA shall prepare a document describing the site and make it available to the Board for review in the consideration of awarding Tax Credits to Projects. Developers will not be notified of a site visit unless access to a building(s) is required. If deemed necessary by IFA, Developers shall provide building access for inspection by Evaluators to, among other things, confirm basic structural soundness. 2.19 Disclosure of Information Regarding Equity Investors or Syndicators. The Application will require the Developer to reveal the name and address of all of the equity partners, investors or syndicators involved in a Project regardless of the nature of the placement of the Tax Credits. If the name of the equity partner or syndicator is not known at the time of Application, the Application can be amended after Tax Credits are reserved. A Form 8609 will not be issued unless the name of a syndicator or equity partner is revealed to IFA. Ownership Entities that have been awarded Tax Credits must also disclose the name and address of equity partners, investors or syndicators involved with Projects being monitored by IFA. Failure to supply the syndicator or equity partner or investor information may result in the filing of a Form 8823 with the Internal Revenue Service. See Treasury Regulation 1.42-5(a)(2)(ii); IRS Tax Memorandum No. 199944019, August 8, 1999. 2.20 Document Timeliness. All supporting documentation required by the Application must be no more than 180 days old on the date that the Application is submitted to IFA. Documents specifically produced for the Applications, including but not limited to: letters from the city regarding zoning, evidence of the availability of Utilities, financing commitment letters, market study and documents regarding Local Contributing Efforts must meet the timeliness requirement. Exceptions allowed would include, documents not specifically produced for the Application, such as a valid purchase agreement, deed, land title document, Articles of Incorporation and IRS letters to a Non-profit stating they are an exempt organization under 501(c)(3) or 501(c)(4). 2.21 Opinions and Certifications. The Application will require the Developer to file certifications and professional opinions in support of the Application. All certifications, opinions and documents submitted by attorneys, the Developer, or other professionals must be based on an independent investigation into the facts and circumstances regarding the proposed Project. Any opinion submitted by any professional that is not based on an independent investigation of the facts and circumstances of a proposed Project will not be accepted. All certifications must be in the form specified by IFA. The certifications shall be made under penalty of perjury. 2.22 Fractional Rounding. For the purposes of determining the number of units in a Developer's election(s), fractional units will be increased to the next whole unit. 2.23 Self Evaluation. IFA will include a self -evaluation form for both threshold and selection criteria for Developers to use to evaluate their Applications. The self -evaluation is for the convenience of the Developers and does not bind IFA to any information contained therein. Completing these exhibits is not required. 2.24 Costs Associated with Application Preparation. IFA is not responsible for any costs incurred by an Ownership Entity or Developer. 8/12/03 6 2.25 Ownership of Applications. By submitting an Application, a Developer agrees that IFA shall become the owner of the Application and that the Application shall not be returned to the Developers even in the event that no Tax Credits are awarded. 2.26 Public Information. At the conclusion of the selection process, the contents of all Applications shall be placed in the public domain and be opened to inspection by interested parties subject to the provisions of Iowa Code Chapter 22. IFA may treat all information submitted by a Developer as a public record unless the Developer properly requests that the information be treated as confidential information at the time the Application is submitted. Any request for confidential treatment of information must be included in a cover letter with the Application and must enumerate the specific grounds in Iowa Code Chapter 22 or other provisions of law that support treatment of the material as confidential and must indicate why disclosure is not in the best interest of the public. The request must also include the name, address, and telephone number of the person authorized by the Developer to respond to any inquiries by IFA concerning the confidential status of the materials. In the event IFA receives a request for the release of information that includes material a Developer has marked as confidential, IFA shall provide a written notice to the Developer regarding the request. Unless otherwise directed by a court of competent jurisdiction, IFA will release the requested information within 20 days after providing the written notice of the request to the Developer. The Developer's failure to request confidential treatment of material pursuant to this Section may be deemed by IFA as a waiver of any right to confidentiality. 2.27 No Representation or Warranty Regarding the QAP. IFA makes no representation or warranty to any person or entity as to compliance issues or the feasibility or viability of any Project. 2.28 IFA Policy on Civil Rights Compliance. IFA is an equal opportunity concern. The Ownership Entity and any of its employees, agents or sub -contractors doing business with IFA understands and agrees that it is the responsibility of the Developer and Ownership Entity to adhere to and comply with all federal civil rights legislation including the Fair Housing Laws, Section 504 of the Rehabilitation Act of 1973, the Americans With Disabilities Act as well as any state and local civil rights legislation. It is the legal responsibility of the Developer and Ownership Entity to be aware of and comply with all non-discrimination provisions of federal, state or local law. 2.29 Tax Authorization Form. An executed IRS Form 8821-Tax Information Authorization Form for each Developer for sharing of information between IFA and the IRS must be included in the Application Package. Form 8821 must be provided to IFA with the Application, at the time of Carryover Application, at the time the Project is placed in service and annually during the Compliance Period. SECTION 3. TAX-EXEMPT BOND FINANCED PROJECTS. Under IRC Section 42(h)(4), Projects financed with tax-exempt bonds may be entitled to 30% present value Tax Credits not subject to the State Ceiling and without the need to participate in the competitive round. The requirements for a Project using tax-exempt bond financing are as follows: 3.1 Private Activity Bond Cap. The bonds to finance the Project must have received an allocation of private activity bond cap pursuant to IRC Section 146 and Iowa Code Chapter 7C. Additionally, principal payments on the bonds must be applied within a reasonable period to redeem the bonds. Tax Credits are allowed for that portion of a Project's Eligible Basis that is financed with the tax-exempt bonds. If 50 percent or more of a Project's aggregate basis (land and building) is so financed, the Project is entitled to Tax Credits for up to the full amount of Eligible Basis. 8/12/03 7 3.2 Allocation Through IFA. Projects financed with tax-exempt bonds are required to apply to IFA for an allocation and for a determination that the Project satisfies the requirements of the QAP. 3.3 Application Criteria. A Project using tax-exempt financing must satisfy all of the threshold requirements to be considered for Tax Credits. A market study is required to be submitted by a disinterested third party analyst. The Tax Credit cap for a single Developer (Section 2.4), the Tax Credit cap for a single Project (Section 2.5), and the scoring criteria outlined in Section 6 shall not apply with respect to a tax-exempt bond financed Project. The Board in its discretion may apply the provisions of Section 6.2 to determine whether to award Tax Credits to a Project using tax exempt financing and applying for Tax Credits pursuant to this Section of the QAP. Additionally, the Ownership Entity must fulfill all post award requirements and must keep the Project in compliance for the Compliance Period. The Project will be subject to the compliance monitoring requirements of the QAP. 3.4 Application Process. Developers may submit an Application at any time in accordance with the following process: 3.4.1 The Developer must submit a request for Tax Credits to IFA after the issuer of the bonds has approved an "inducement" resolution for the Project and after the Project has been assured that state private activity bond cap is available. If the Project is seeking mortgage insurance through the Federal Housing Administration (FHA), or credit enhancement from another source, the Developer should submit the request to IFA after the FHA or the credit enhancer has approved a preliminary mortgage amount. 3.4.2 The Tax Credit request must be submitted in accordance with the QAP and Application that is in effect at the time of the request. These QAP and Application requirements, including fees, will also be used in the Form 8609 application process. 3.4.3 IFA is required by the Code to notify the Chief Executive Officer of the local jurisdiction where the proposed Project will be located of the Tax Credit Application, and provide adequate opportunity for comment. 3.4.4 IFA will review the Application, determine whether the Project is eligible and meets the requirements of the QAP, and make an initial determination of the Project's Tax Credit amount. 3.4.5 If the Project loan will be FHA -insured, IFA will complete a HUD -required subsidy - layering review to assure that the Project complies with HUD guidelines pursuant to Section 911 of the 1992 Housing and Community Development Act (combining Tax Credits with HUD assistance). 3.4.6 After satisfactory review and if a Project satisfies the QAP requirements, IFA will provide the Ownership Entity and the bond issuer with a letter confirming that the Project satisfies the requirements of the QAP and stating the preliminary amount of Tax Credits for the Project. At the time the letter is sent, IFA will request that the issuer confirm IFA's determination of the Tax Credit amount. In the event IFA is the issuer, its own calculations shall be deemed sufficient to fulfill this requirement. 3.4.7 The Applicable Percentage is established at either the month in which the building is placed in service or, at the Ownership Entity's election, the month in which the bonds are issued. If the latter is desired, the election statement must be signed by the Ownership Entity, notarized and submitted to IFA before the close of the fifth calendar day following the month in which the bonds are issued. 8/12/03 3.4.8 In the year in which the Project is placed in service, the Ownership Entity must request a final allocation of Tax Credits in accordance with deadlines posted on IFA's web site. IFA will provide a Form 8609 Application Package for final allocation requests. The Ownership Entity will be governed by the same deadlines required of other Tax Credit recipients. 3.4.9 Tax-exempt Projects are required to enter into a LURA, which will govern the low- income use and any other QAP requirements, and to follow the same final allocation Application process as Projects awarded Tax Credits in the competitive round. SECTION 4. UNDERWRITING. The Application will require the Developer to demonstrate that the Project is financially feasible and viable using the least amount of Tax Credit. IFA shall determine whether the Developer has requested the least amount of Tax Credit necessary to ensure Project feasibility and to conform to the QAP. IFA may adjust the amount of Tax Credit based upon the underwriting. Underwriting shall be completed for a Project prior to the time a reservation is awarded, at Carryover, and before a Form 8609 is issued. Developers will be required to file a new pro forma at each of these stages in the Tax Credit process. The pro forma cash flow is part of the Application. In addition, the Developer must supply the following information: 4.1 Project Financial Information. The Application will require the Developer to supply sufficient information to allow IFA to determine whether the Project is financially feasible during the construction phase and the operational phase of the Project. The Application will require the Developer to provide information regarding loans, grants, equity contributions, the anticipated value received from syndicators, equity partners or private funding sources for the Tax Credits, property tax abatements, tax increment financing, enterprise zone benefits and any other type of financing or contributions that are relevant to the economic feasibility of the Project. State Historic Tax Credits may not be used in underwriting if a gap in financing is created. 4.2 Operating Reserves. Projects are required to establish an operating reserve equal to six months of projected operating expenses plus debt service payments, which reserve must be maintained for five full years commencing after the Project has reached stabilized occupancy. Stabilized occupancy is based on the vacancy rate identified by the Developer in the Application. The Application will require the Developer to include a narrative explaining how the operating reserve will be established. The requirement for an operating reserve may be satisfied as follows: 4.2.1 The Developer may use the terms and conditions of the operating reserve required by lenders or other funders financing the Project provided the reserve is equal to or greater than the reserve required by this Section; 4.2.2 The Ownership Entity may fund the operating reserve using an irrevocable letter of credit. The letter of credit may be released after the end of the five year period described above in Section 4.2, or 4.2.3 The Developer may provide a personal guarantee. In order to support the guarantee, the Developer must demonstrate financial capacity and liquidity, its track record as it relates to developing a successful Project and the number of other guarantees it has outstanding. Adequate evidence of this item will be a financial statement showing assets, liabilities, contingent liabilities and other information necessary to demonstrate financial capacity to perform the guarantee and a narrative description of the Developer's record relating to successful Project development. 8/12/03 9 4.3 Replacement Reserves. Projects are required to establish and make monthly deposits for a replacement reserve equal to $200 per unit per annum for new construction and $300 per unit per annum for rehabilitation. The Application will require the Developer to include a narrative explaining how the replacement reserve will be escrowed and used only for repair to the units and the replacement of components. The replacement reserve must be shown on the pro forma. 4.3.1 The requirement for the replacement reserve is a compliance issue and may be satisfied using the terms and conditions of the replacement reserve required by lenders or other funders financing the Project provided the reserve is equal to or greater than the reserve required by this Section. Developers are required to submit to IFA a verification that the terms and conditions of the replacement reserve required by lenders or other funders financing the Project has or will be satisfied at the time a building is placed in service. 4.4 Limits on Developer and Builder Fees. 4.4.1 Developer fees including overhead and profit and Consultant fees shall not exceed the percentages described below. The Developer's fee is calculated as a percentage of Total Project Costs minus land, Developer's fee, Developer's overhead and profit, consultant fees and project reserves. The fees will be limited as follows: For new construction Projects; first 24 units — not to exceed 15%, units 25 and greater — not to exceed 12%; For acquisition/rehabilitation, adaptive reuse or historic preservation Projects - not to exceed 17%. 4.4.2 Builder and general contractor fees will be limited to a total of 14% of the Hard Construction Costs. 4.4.3 In the event Developer fee, consultant fee or builder fee limits are in excess of the limits imposed, IFA will make the appropriate adjustments during the underwriting phase of the evaluation of the Applications. 4.5 Debt Service Coverage Ratio. In order to receive a Tax Credit Reservation, Developers must present a Project that can service its debt. The pro forma cash flow will calculate the Debt Service Coverage Ratio for each year of the Project included in the pro forma. In order to satisfy this item the Project's Debt Service Coverage Ratio for years one, two, three and four should fall within the range of 1.15 to 1.35. Projects, including those applying for the Service Enriched Housing Set -Aside in Section 2.7 and the Affordable Assisted Living Set -Aside in Section 2.8, may have Debt Service Coverage Ratio outside this range. However, the Developer must provide a narrative to justify the deviation. This justification could include long- term guarantees from service provider(s). Service providers include but are not limited to the county in which the Project is located. If the Debt Service Coverage Ratio is outside the range and the justification is not acceptable to IFA, the Project may be rejected. 4.6 Annual Rent, Expense Trends and Vacancy Rates. The Developer must elect the annual rent trend, expense trend and vacancy rate for underwriting the Project. The Developer must provide a narrative to justify the annual rent trend, expense trend and vacancy rate elected for the Project. The pro forma must substantiate that the Project will maintain a positive cash flow for 15 years. 4.7 Subsidy Layering Review. HUD is required to undertake subsidy layering reviews of each Project receiving HUD housing assistance to ensure that Ownership Entity do not receive excessive government subsidies by combining HUD housing assistance with other forms of federal, State or local assistance. For Projects that combine HUD housing assistance with Tax Credits, HUD has delegated the subsidy layering review to IFA. HUD and IFA have entered into 8/12/03 10 a Memorandum of Understanding ("MOU") governing the procedures that IFA must follow when undertaking the subsidy layering review. Generally, the fee limits for Developer's fee, overhead, builder's profit and other fee limits set forth in this QAP in Section 4.4 will be applied by IFA in its subsidy layering review. IFA will complete the subsidy layering review for applicable Projects after the Developer and HUD submit relevant documentation for review at carryover. This information includes the results of HUD's underwriting analysis, the Developer's proposed development costs, and information concerning any syndication of the Project. IFA will undertake the subsidy layering review for each Project after completion of HUD's and IFA's underwriting, if applicable. IFA will complete a second subsidy layering review at the time the IRS Form 8609 is issued for the Project. IFA reserves the right, without amending this QAP, to amend its subsidy layering procedures as necessary to comply with changes in applicable federal law or regulations, HUD guidelines or the MOU. HOME and CDBG funding when combined solely with Tax Credits do not trigger the subsidy layering review process. 4.8 Unit Cost Cap. The total development cost (total project cost minus cost of land, commercial hard construction, bridge loan interest, operating reserves, IFA compliance monitoring fee and replacement reserves) per unit must not exceed the HUD 221 (d)(3) high cost mortgage limits by bedroom size as outlined in an attachment to the Application. Projects receiving state and/or federal historic rehabilitation tax credits will be allowed to deduct the residential portion of the historic tax credit from the project costs to allow for stricter rehabilitation standards. IFA may, on a case by case basis, allow a Project receiving historic rehabilitation tax credits or participating in HUD's portfolio re -engineering program to exceed the unit cost cap. Portfolio re -engineering projects should include a copy of the project's physical condition assessment to demonstrate the potential unit cost. However, total adjusted eligible basis (before qualified census tract adjustment) will be limited to the HUD 221 (d)(3) high cost mortgage limits in any case. Affordable Assisted Living Projects are allowed an exceptional per unit cost of 120% of the HUD 221 (d)(3) high cost mortgage limits. Tax exempt bond projects funded under Section 3 are exempt from this Section. SECTION 5. THRESHOLD REQUIREMENTS —ALL DEVELOPERS \ OWNERSHIP ENTITIES. To be considered fora reservation of Tax Credits, a Project must demonstrate that it meets the requirements described in this Section. 5.1 Complete Application. Once the Application deadline has passed, Applications will be reviewed for completeness. An Application that is not substantially complete may be rejected. IFA, in its sole discretion, may provide a written notice of deficiencies in the Application to the Developer\Ownership Entity. The notice will be sent by overnight delivery. The receipt from the overnight carrier will be proof of receipt by the Developer\Ownership Entity. No new information that would increase the score of the Application will be considered. The Developer\Ownership Entity will have seven business days from the date of receipt to provide requested clarifications or documents to IFA. The Developer\Ownership Entity may contact IFA during this seven day period to discuss the requirements of the Developer\Ownership Entity in addressing the deficiencies. Any Application, which after seven business days remains deficient, will be rejected. IFA reserves the right to contact Developers\Ownership Entities in ways other than overnight delivery to clarify information contained in the Application. 5.1.1 Legal Ownership Entity. The legal Ownership Entity must be formed before the Application is submitted and documentation of that formation must be included with the application. 5.2 Qualified Residential Rental Property. The Project must be a Qualified Residential Rental Property. The Developer must certify that the Project as proposed is a Qualified Residential Rental Property. IFA reserves the right to require the Developer to supply a legal opinion that the Project as proposed is a Qualified Residential Rental Property. 8/12/03 11 5.3 Location Requirements. The proposed Project must be located in an incorporated city. Applications shall not contain or propose alternate sites. Alternate sites must be presented as separate Projects with separate Applications. 5.4 Readiness to Proceed. The Developer must be ready to proceed with the Project by documenting all of the following: 5.4.1 Site Control. At the time of Application, the Ownership Entity must have site control. The Application will require the Ownership Entity to show evidence of site control by providing executed documents. The following may be proper evidence of site control: 5.4.1.1 The Ownership Entity holds title to the Property on which the Project will be located by a properly executed and recorded warranty deed or a title opinion showing title in the name of the Ownership Entity or a title guaranty certificate showing title in the name of the Ownership Entity; 5.4.1.2 The Ownership Entity has an executed and exclusive purchase option agreement or other binding agreement that is valid up to and including the date of the reservation. Evidence of site ownership must be submitted with the Carryover package; 5.4.1.3 The Ownership Entity has an executed purchase contract; or 5.4.1.4 The Ownership Entity has an executed 99-year land lease or option on a long-term lease. 5.4.2 Site Suitability. The site must be suitable for the proposed Project and should be sized to accommodate the number and type of units and the amenities proposed. The land costs allocated to the Project cannot include excess acreage unnecessary for the construction and use of the Project. The Application requires a narrative of the current use of the Property, all adjacent property land uses, the surrounding neighborhood, and identification and distance from services available to the proposed property. Labeled photographs (or color copies) of the proposed Property and all adjacent properties must be provided, as well as a clear map identifying the exact location of the Project site. In addition, a plat map of the site or proposed replating map of the site must be submitted. If the site(s) includes any detrimental characteristics, the Developer must provide a remediation plan and budget, subject to IFA's approval at its sole discretion, to make the site suitable for the Project. If any detrimental site characteristics exist on or adjacent to the site, IFA may reject the Application. The following may represent some, but not all, detrimental site characteristics: 5.4.2.1 Sites located within '/2 mile of storage areas for hazardous or noxious materials, sewage treatment plant or other solid waste facility or the site is a prior storage area for hazardous or noxious materials, sewage or other solid waste; 5.4.2.2 Sites where the slope/terrain is not suitable for Project; 5.4.2.3 Sites where there are obvious physical barriers to the Project; 5.4.2.4 Sites that are located within '/z mile of a sanitary landfill or sites that were previously used as a sanitary landfill; 5.4.2.5 Sites that are located within a flood hazard area, at or on a 100 year flood plain or a designated wetland as determined by the Iowa Department of Natural Resources, FEMA or FIRMA map; 5.4.2.6 Sites that are located within 500 feet of an airport runway clear zone or accident potential zone; or 8/12/03 12 5.4.2.7 Sites that are landlocked. All sites proposed must have direct contiguous access from the Project site to existing paved publicly dedicated right of ways. 5.4.3 Zoning. The Application will require the Developer to demonstrate that the zoning for each site on which the Project will be located allows for the use(s) proposed by the Developer. A letter from the local jurisdiction regarding zoning must be submitted with the Application. If the proposed Project location does not have zoning regulations, a letter from the Governmental Entity must be submitted attesting to the fact that no zoning regulations are in effect. If zoning for the Project's site is not appropriate for the proposed use on the date the Application is submitted, the Developer must supply adequate evidence that demonstrates zoning will be appropriate by the time construction begins or a Carryover Agreement is executed. 5.4.4 Utilities. The Application will require the Developer to show that all Utilities are or will be physically available to and have adequate capacity for the proposed Project. The appropriate utility company for each service or the city must confirm in writing the availability and capacity of utilities at the proposed Project site. If Utilities are not available to the site on the date the Application is submitted, the Developer must supply adequate evidence that demonstrates that the Utilities will be available by start of construction. This evidence must include the appropriate funding source the Developer will utilize for the Utility extension. Any charges for the extension of services that are not normal extensions may not be included in eligible basis. 5.5 Qualified Development Team. The Application will require the Developer to identify the Development Team (Ownership Entity, Developer, contractor, architect, engineer, consultant, tax accountant, tax attorney, management company, syndicator and general partner). The Developer will be required to provide a narrative describing each member's function and explain how the Development Team possesses the necessary experience to successfully complete the proposed Project and all other projects under construction, and that it has developed projects of comparable size and financing complexity. The qualifications of the Development Team will be evaluated again at Carryover and the reservation of Tax Credits may be revoked, at the sole discretion of IFA, if the Development Team is not qualified to successfully complete the proposed Project. 5.6 Building Standards. Preliminary site plan & floor plans are to be submitted with the application. 90 days prior to Carryover, construction plans and specifications are to be submitted to the state Fire Marshal's Office (SFM) for review in accordance with Iowa Administrative Code (IAC) 104A 661 Chapters 5, 16, and 18. Verification of plans and specifications being submitted to the SFM are to be sent to Iowa Finance Authority (IFA), as well as the clearance and approval statement from the SFM office. Local jurisdictions may adopt standard that exceed SFM requirements. In these cases, the local jurisdiction requirements would apply. The Application will require the Developer to demonstrate that they have or will meet the standards that apply to the Project. The standards are: 5.6.1 2003 International Building Code adopted and published by the International Code Council 5.6.2 2003 International Residential Code adopted and published by the International Code Council 5.6.3 2003 International Fire Code adopted and published by the International Code Council 5.6.4 2003 International Mechanical Code adopted and published by the International Code Council 8/12/03 13 5.6.5 2000 Uniform Plumbing Code adopted by the International Association of Plumbing & Mechanical Officials 5.6.6 2002 National Electric Code adopted by the National Electrical Code Committee and published by the National Fire Protection Association, Inc. 5.6.7 2003 International Energy Conservation Code adopted by the International Code Council 5.6.8 Uniform Federal Accessibility Standards provided in 24CFR Part 8 and delineated in the American National Standards Institute Standard 1986 A117.1 5.6.9 The Americans with Disabilities Act 1990 provided by the Federal Department of Justice 5.6.10 The Federal Fair Housing Act of 1988 including Title VI of the Civil Rights Act of 1964, Section 109 of the Housing and Community Development Act of 1974, Title Vlll of the Civil Rights Act of 1968, Section 3 of the Housing and Urban Development Act of 1968, Executive Order 11063, Section 504 or the Rehabilitation Act of 1973 5.6.11 For adaptive reuse/rehab, the Lead Base Poisoning Prevention Act, the Department of Housing and Urban Development (HUD) Guidelines for the Evaluation and Control of Lead Based Paint Hazards. Environmental Protection Administration (EPA) and Occupational Safety and Health Act (OSHA) provisions shall apply when applicable. 5.6.12 For adaptive reuse/rehab, State Historical Preservation Office (SHPO) clearance (Sec. 106 of the National Historic Preservation Act, 36 CFR Part 800) for projects receiving any direct federal funding (HOME or categorical grant) or affecting properties listed in the National Register of Historic Places, or in a designated historic preservation district or zone. 5.6.13 The minimum development characteristics as outlined in an attachment to the Application that includes both minimum construction and scoring requirements. 5.7 Market Study. IFA will commission a market study for all Applications. The Developer may elect to have IFA commission a market study prior to the Application due date or have IFA commission the market study after the Application is submitted. If the Developer elects to have IFA commission a market study prior to the Application due date, the Developer will be permitted to make changes to their proposed Project prior to the Application due date in accordance with the Market Study Guide. IFA strongly recommends that prior to submitting the information required for the IFA commissioned market study, Developers independently obtain a market analysis sufficient to satisfy their own concerns as to market viability as outlined in the Market Study Guide. Developers are encouraged to submit any market information that they believe may be helpful in determining the market feasibility of their proposed Project, including an independent market study and information from proposed service providers, with the information required for the IFA commissioned market study. Any market study or market information provided by the Developer will be provided to IFA's commissioned market analyst. By submitting this information or market study, Developers are afforded the opportunity to provide input that may be important in the determination of market feasibility. However, IFA will not be bound by the opinion or conclusions reached in the Developer's independent market study or other information provided. Market feasibility for a proposed Project as measured by the IFA commissioned market analyst will be based on, but not limited to, the following factors: vacancy rates of comparables; rent comparison to comparables; capture rate; and impact on the market and financial health of comparables in the market area. If the commissioned market 8/12/03 14 study or IFA's analysis of the commissioned market study and/or analysis of independent information obtained by IFA do not demonstrate, at the sole discretion of IFA, that the market area needs the proposed Project, the Project will be rejected at threshold and will not be scored. 5.8 Capital Needs Assessment for Rehabilitation, Preservation and Adaptive Reuse Projects. The Application will require the Developer to acknowledge the Capital Needs Assessment requirement and that IFA will use it in the Carryover evaluation. The Capital Needs Assessment must be prepared by a competent third party, such as a licensed architect or engineer. The third party may be a member of the Development Team with prior approval by IFA after the allocation of Tax Credits, but may not be the Ownership Entity or Developer. The assessment must include a site visit and physical inspection of the interior and exterior of units and structures, as well as an interview with available on -site property management and maintenance personnel to inquire about past repairs/improvements, pending repairs, and existing or chronic physical deficiencies. The assessment must also consider the presence of hazardous materials on the site. The assessment must include an opinion as to the proposed budget for recommended improvements and should identify critical building systems or components that have reached or exceeded their expected useful lives. The Application will fully describe the Capital Needs Assessment requirements. 5.9 Local Contributing Effort. The Application will require the Ownership Entity to document a Local Contributing Effort by a public or private agency with a value of at least one percent of the Hard Construction Costs. The IFA provided exhibit in the Application must be used in documenting the Local Contributing Effort. A Local Contributing Effort will not be considered as qualifying for this Section if the Local Contributing Effort was made more than one year before the effective date of the QAP unless it is a contribution in the form of land or buildings. The agency making the Local Contributing Effort must indicate the value of its contribution including a description of land value and how it was determined. The value of the Local Contributing Effort is the value of the contribution made by the agency minus the value of any consideration or accommodation received by the agency in return for the contribution. The Local Contributing Effort may be contingent upon the receipt of a Tax Credit Reservation. 5.10 Commitment to Notify Public Housing Authority (PHA) of Vacancies. The Application will require the Developer to notify the local PHA having jurisdiction in the political subdivision where the Project is located. The letter shall state the Developer's desire to be placed on the PHA's list. The Developer must provide a copy of this letter with their Application. 5.11 Ineligible Significant Parties. For this Section, Significant Parties includes but is not limited to the Ownership Entity, the eventual owner of the Tax Credit Project, the eventual taxpayer of the Tax Credit Project, the Developer, general partner, accountant, architect, engineer, financial consultant, any other consultant, management agent and the general contractor or other persons identified on the Project Development Team, but does not include syndicators, equity partners, private placement originators or limited partners. 5.11.1 The following Significant Parties may be ineligible to participate in the Tax Credit program and the Project may not receive a Tax Credit Reservation, Tax Credit Allocation at Carryover time or a Form 8609: 5.11.1.1 Significant Parties who have unsatisfactory performance in any IFA sponsored or assisted program, as determined by IFA. Unsatisfactory performance may include but is not limited to a default of any obligation owed to IFA in any of its programs or an uncorrected default of any agreement between the Significant Party and IFA; 5.11.1.2 Significant Parties who have received an uncorrected Form 8823 issued by IFA or any other state. For purposes of this Section, uncorrected shall mean an 8/12/03 15 8823 that has not been corrected within the prescribed 90 day correction period or any extensions thereof. Developers are encouraged to submit detailed explanations, on the exhibit provided in the Application, of any uncorrected 8823's that have been issued with respect to properties associated with any Significant Parties; 5.11.1.3 Significant Parties who have been convicted of or entered an agreement for immunity from prosecution, received a deferred conviction or sentence or suspended conviction, or pled guilty, including a plea of no contest, to a crime of dishonesty, fraud, tax fraud, embezzlement, bribery, payments of illegal gratuities, perjury, false statements, racketeering, blackmail, extortion, or falsification or destruction of records or crimes of violence toward vulnerable populations; 5.11.1.4 Significant Parties who have been debarred from any program administered by IFA, any other state agency, or any federal agency; 5.11.1.5 Significant Parties who have an Identity of Interest with any debarred entity; 5.11.1.6 Significant Parties who fail to disclose any direct or indirect financial or other interest a member of the Project Development Team may have with another member of the Project Development Team or with the Project; or 5.11.1.7 A Developer who fails to disclose all known members of the Project Development Team. 5.11.2In the event IFA discovers that the Ownership Entity, its Affiliates or other Significant Parties or any other person with an Identity of Interest associated with the Project have misrepresented the certifications made consistent with this Section or the Ownership Entity, its Affiliates, other Significant Parties or any other person with an Identity of Interest associated with the Project has failed to make the disclosures required by the QAP and Application or the Ownership Entity, its Affiliates, other Significant Parties or any other person with an Identity of Interest associated with the Project made any material misrepresentation on the Application or in any of the documents submitted with the Application, IFA may do one or more of the following: bar the offending party from applying for Tax Credits for a period of up to five years, revoke the Tax Credit Reservation awarded or issue a Form 8823 if the Project has been placed in service. 5.12 Additional Threshold Requirements for Non-profit Organizations. To be eligible for Tax Credits from the Non-profit Set -Aside, the Developer is required to demonstrate the involvement of a Qualified Non-profit Organization. To qualify: 5.12.1 The Non -Profit must have a 501(c)(3) or 501(c)(4) designation from the IRS and be qualified to do business in Iowa. 5.12.2 The Non-profit cannot be formed by one or more individuals or for -profit entities for the principal purpose of being included in the Non-profit Set -Aside. Nor can the Non- profit be controlled by a for -profit organization. IFA may make a determination as to whether a Non-profit is controlled by a for -profit. 5.12.3 The Non-profit and/or parent Non-profit organization must have as one of its exempt purposes the fostering of low-income housing and must have been so engaged for the two years prior to the Application submission date. The Application must demonstrate the Non -profits' programs include a low-income housing component. 5.12.4 The Non-profit must, directly or through a partnership, prior to the reservation of Tax Credits: 8/12/03 16 5.12.4.1 Own all of the general partnership interests of the ownership entity of the Project; or own one hundred percent of the stock of a corporate ownership entity of the Project alone or with other Non -profits who meet all the requirements of this Section or: 5.12.4.2 Own, along or with other Non -profits who meet all of the requirements of this Section, one hundred percent of the stock of an entity that is the sole general partner or sole managing member of the ownership entity of the Project. 5.12.5 The Non-profit must be materially participating (regular, continuous and substantial on -site involvement) in the operation of the Project throughout the Compliance Period. 5.12.6 IFA reserves the right to conduct due diligence to determine whether an entity is a Qualified Non-profit Organization. 5.13 Displacement of Tenants. IFA will accept Applications that have displaced (or will displace) tenants. The Application will require the Developer to submit an acceptable relocation plan. 5.14 Confirmation of Eligibility —Rehabilitation or Acquisition. The Application will require the Developer to confirm eligibility under IRC Section 42(d)(2)(B)(ii) (the ten-year rule) by listing each building by building address, the date the building was placed in service by the Ownership Entity from whom the building was or will be acquired, the date the building was or is planned for acquisition by the Ownership Entity, and the number of years between the date the building was last placed in service and the expected date of acquisition. If the number of years for any building is less than ten years, a Developer must explain any exception under the Internal Revenue Code, which would make the building eligible for Tax Credit under IRC Section 42(d)(2)(B)(ii). 5.15 Rehabilitation Standards. If the Developer is proposing to rehabilitate a building(s), the Application will require the Developer to provide information regarding rehabilitation expenditures for each building. A Developer must identify, with respect to each building as required by the Application, the Rehabilitation Expenditures as defined in IRC Section 42(e)(2) which shall be allocable to or substantially benefit the Low -Income Units in such building. The Application must show the calculations for whether the amount of Rehabilitation Expenditures is at least equal to the greater of 10 percent of the expected adjusted basis of the building or a $6,000 rehabilitation expenditure per Low -Income Unit. Additionally, a Developer must indicate that all buildings in the Project qualify for the exception provided for in IRC Section 42(e)(3)(B) regarding the ten percent (10%) basis requirement or that all the buildings qualify for the exception provided for in IRC Section 42(f)(5)(13)(ii)(II) regarding the $3,000 per unit requirement or that there are different circumstances for each building as described by the Developer. 5.16 Scattered Sites. The Developer must submit a composite Application reflecting the total of all sites as well as separate site specific exhibits for each site included in the Project. A scattered site Project will be treated as a single Project if all Low -Income Units in the buildings are rent -restricted. A scattered site is a Project where multiple buildings with similar units are not located in proximity to one another, but are owned by the same party and financed under the same agreement(s) and are located in one county or MSA. A scattered site project may be new construction, acquisition, rehabilitation or a combination of these types. In the case of a single family scattered site Project, a maximum number of 12 units are allowed at any separate site. SECTION 6. SELECTION CRITERIA. Applications will be evaluated using the preference and selection criteria required in IRC Section 42. Certain selection criteria are subject to compliance monitoring and will be incorporated into the LURA and will be binding for the length of the LURA 8/12/03 17 or any renewal thereof. IFA reserves the right to limit the reservation of Tax Credits to: 144 units in the Des Moines MSA; 96 units in all other MSA's or 48 units in any Non-MSA county unless market study or studies or independent information obtained by IFA would support awarding Tax Credits for a greater number of units. These limits will not include Projects that are part of the Service Enriched Housing Set -Aside in Section 2.7, the Affordable Assisted Living Set -Aside in Section 2.8 or Projects that are the rehabilitation of existing low-income units and are therefore not adding any additional Low -Income Units. Awards for requirements of Section 42, Non -profits awarded in the Service Enriched Housing and the Service Enriched Housing, Affordable Assisted Living and Preservation Set -Asides will be made followed by the federally mandated Non-profit Set -Aside. If there are insufficient Non-profit Projects to fulfill the requirements of Section 42, Non -profits awarded in the Service Enriched Housing, Affordable Assisted Living and Preservation Set -Asides will be counted to meet the Section 42 requirements. 6.1 Tie Breaking Procedure. A tie breaking procedure will apply in the event that a Project accumulates an equal number of points with another Project(s) and only a limited number of the Projects are eligible to receive a reservation under the remaining amount of State Ceiling. Under this circumstance, the Project that is located in the community with the greatest demand for the proposed Project, at the sole discretion of IFA, will be selected. 6.2 Discretion by the Board. Irrespective of scoring including a tie in the scoring, the Board may determine that: 6.2.1 A Project shall receive a lower amount of Tax Credit than has been requested if the Project would otherwise have been awarded Tax Credits but there is an insufficient amount of Tax Credit ceiling available to fully reserve the amount of the Tax Credit requested. The Board may award the amount of the remaining State Ceiling to the Project even though the amount is less than the amount requested. The Ownership Entity can decide whether to accept the partial tender of Tax Credit or be placed on a waiting list for the full amount of the requested Tax Credit. 6.2.2 Acquisition/Rehabilitation, Preservation, Adaptive Reuse or Historic Preservation Projects may apply for additional credits if Hard Construction Costs exceed original cost estimates including contingency fund. A contingency fund of up to 15% must be included in all Acquisition/Rehabilitation, Preservation or Historic Preservation Projects. Additional credits may be granted by the Board, if excess credits are available after the Carryover Allocation agreement is complete. Amount of contingency funds in original Application may be taken into consideration when awarding additional Tax Credits. No additional Developer's fee or Consultant fee will be allowed under this Section. 6.2.3 A Project satisfies the preferences described in Iowa Code Section 16.4. 6.2.4 A Project may not be awarded Tax Credits for any of the reasons described in this Section. In the event IFA elects not to award Tax Credits to a Project for the reasons identified herein, the Board will identify the primary reasons a Project was not funded. 6.2.4.1 The Project does not further the stated purpose of the Low -Income Housing Tax Credit Program as described in Section 1 of the QAP. 6.2.4.2 The Project is not needed in the community for which it has been proposed. The Board may consider the market study, any independent information IFA has obtained, including but not limited to, vacancy rate and rents in the market and affordable or subsidized housing projects, or population trends in the area. 8/12/03 18 6.2.4.3 The Project is not preferred by other Government Entities. IFA may consider city council resolutions. IFA may also consider whether funding commitments made by other Government Entities have been received by a Project. 6.2.5 Destruction of a Project prior to Placement in Service. In the event that a Project suffers a casualty loss (such as a fire or a tornado) of a significant character prior to the Project being Placed in Service, such that the Project cannot be Placed in Service within the applicable time limitations required by Section 42 of the Code and the accompanying regulations, IFA will allow the Developer to return the reserved or allocated Tax Credits via mutual consent in return for a binding commitment by IFA to allocate a future year's Tax Credits, in an amount not to exceed the original allocation to the Project. This Section is only intended to cover those casualty losses that are not otherwise provided under Section 42 of the Code and the applicable regulations and IRS rulings (such as losses in federally declared disaster areas, for which Rev. Proc. 95-28 applies). 6.3 Scoring Criteria. IFA will award points for the following items provided adequate evidence supports the award of points for all sites within the Project. Evidence will be identified in the Application or an exhibit to the Application. 6.3.1 Tenant related categories. (100 points maximum) 6.3.1.1 Projects that provide units that are to be set -aside and occupied by tenants with incomes at or below 40% AMGI and rent restricted. 1 point for each full 1% of units in the Project (20 points maximum). 0 to 20 points 6.3.1.2 Market Rate units (not eligible for Tax Credits). At least 20% of Project must be Market Rate Units in order to receive points. 1 point for each 1 % of units over 20% (30 points maximum). 0 to 30 points 6.3.1.3 Electing 20/50 AMGI as the IRS Minimum Set -aside Requirement. If the 20/50 election is made, in order for any unit to qualify as a Low -Income Unit, the unit must be both rent restricted and occupied by individuals whose income is at or below 50% of the AMGI, or if the 40/60 election is made in order to qualify as a Low -Income Unit, the unit must be both rent restricted and occupied by individuals whose income is at or below 60% of the AMGI. 0 or 10 points 6.3.1.4 Projects that can serve tenant populations with large families. Projects will qualify for this designation only if the Tax Credit units are for family projects. Projects with at least 3-bedrooms and at least 1-1/2 Baths. 1 point (up to 10 points maximum) for each full 1 % of LIHTC units. 0 to 10 points 6.3.1.5 Projects designed to serve a special needs population. The Developer must submit a complete supportive services plan in accordance with the attachment to the Application in order to score points in this category. The supportive services plan must be specific to the proposed Project. All requirements, including all population specific service requirements, must be listed in the plan. The descriptions of services must include enough details and information so that the Evaluator can determine how and who is provided the services and the population served. The Application must identify what service need is unmet, how the unmet need is determined and how proposed services will impact the unmet need. 0 to 30 points 8/12/03 19 6.3.2 Compliance Period related categories. (20 points maximum) 6.3.2.1 Projects obligated to serve qualified tenants for additional years beyond the minimum 15-year Compliance Period and 15 year extended compliance period required by IRC Section 42. Points will be awarded based on 5 points (up to a maximum of 20 points) for each full 5 years of additional compliance period elected. Ownership Entities may elect either an additional compliance period or eventual tenant ownership under Section 6.3.2.2. (points will not be awarded under both categories) 0 to 20 points 6.3.2.2 Projects that are intended for eventual tenant ownership. The Developer must include a plan as an exhibit to the Application addressing: 1) services that prepare tenants to become owners of the property 2) plans for conversion of Project to tenant ownership at the end of the 15 year compliance period and 3) proposed budget to support 1 and 2 above. Ownership Entities may elect either an additional compliance period or eventual tenant ownership. 0 or 5 points 6.3.2.3 Iowa ROSE (Renter to Ownership Savings Equity) Program: 15 points will be awarded to a Developer who develops a bona fide long-term Iowa ROSE Program. Long-term Iowa ROSE is a lease -to -own single family home program pursuant to a plan and with documents approved by IFA with the house to be sold to a qualified tenant at the end of the 15 year compliance period. 0 or 15 points 6.3.3 Location related categories. (80 points maximum) 6.3.3.1 Projects that are entirely located within a qualified census tract and can demonstrate that they contribute to a concerted community revitalization plan. A concerted community revitalization plan is an IDED Enterprise Zone, HUD Enterprise Community, IDED Main Street Program, IDED Tax Increment Finance (TIF) Variance approved communities, Self -Supporting Municipal Improvement District or historic structures listed on the National Register of Historic Places or determined eligible for the National Register by the State Historic Preservation Officer. The Project site must be entirely within the geographic boundaries of the community revitalization plan and the plan must describe revitalization activities in the neighborhood surrounding the proposed Project. 0 or 20 points 6.3.3.2 Projects entirely located in: an IDED Enterprise Zone; a HUD Enterprise Community; a Brownfield Site; an IDED Main Street Program; an In -Fill Lot; the attendance district of a Section 1113(3)(A) Elementary School (applies only to a family project). 10 points each (up to 40 points maximum) 0 to 40 points 8/12/03 20 6.3.3.3 Projects located near services. Within Within Older Persons/ Services 1 Mile 2 Miles /Family/Both Public Transportation 2 points 1 point Both Schools 2 points 1 point Family only Pharmacies 2 points 1 point Both Medical Services 2 points 1 point Both Grocery Store 2 points 1 point Both (Not Convenience Store) Day Care (not on -site) 2 points 1 point Family only Library 2 points 1 point Both Senior Center 2 points 1 point Older Persons only Community Center 2 points 1 point Both Congregate Meal Site 2 points 1 point Older Persons only Before and After School Care Program 2 points 1 point Family only 0 to 10 points 6.3.3.4 Projects with services located on -site. Day Care (on site) 5 points Both Computer Learning Center (on site) 5 points Both 0 to 10 points 6.3.4 Project characteristics related categories. (130 points maximum) 6.3.4.1 Projects that use existing housing, adaptive reuse or new construction, the improvement of which has been designated as part of a community revitalization plan. A community revitalization plan is an IDED Enterprise Zone, HUD Enterprise Community, IDED Main Street Program, IDED Tax Increment Finance (TIF) Variance approved communities, Self -Supporting Municipal Improvement District or historic structures listed on the National Register of Historic Places or determined eligible for the National Register by the State Historic Preservation Officer (SHPO). The entire Project site must be within the geographic boundaries of the community revitalization plan and the plan must describe revitalization activities in the neighborhood surrounding the proposed Project. 0 or 10 points 6.3.4.2 Entire Projects that are locally, state or federally designated historic structures or entire Projects that provide for the rehabilitation of abandoned or unsafe buildings that are considered a "public nuisance" as defined in Chapter 657A of the Code. 0 or 30 points 6.3.4.3 Projects that are subsidized Preservation Projects. Subsidized Preservation Projects are defined as (not withstanding Threshold and other requirements in this QAP) a Project that has federal subsidy (HUD Section 8 or USDA Section 515) and is likely to lose their low-income status (HUD -opt out notice or USDA -prepayment filed), or in need of repair or a pre-1990 Section 42 Project that has successfully completed their 15-year compliance period. 0 or 15 points 9/12/03 21 6.3.4.4 Projects that receive a resolution of support from the local governing body of the local political subdivision where the Project will be located. 0 or 10 points 6.3.4.5 Projects that have a written agreement with the Public Housing Authority (PHA) in the form provided by IFA and signed by both the Ownership Entity and the PHA. 0 or 10 points 6.3.4.6 Projects that exceed the minimum outlined in an attachment to the Application. Exterior Construction Insulation Doors Window Sills Laundry HVAC Community Rooms Main Entrance Areas Storage Units construction characteristics as 0 to 13 points 0 to 8 points 0 or 2 points 0 or 2 points 0 or 2 points 0 to 14 points 0 or 5 points 0 or 2 points 0 or 2 points 6.3.4.7 Projects that provide high speed internet access to each unit by wiring for broadband, wireless or digital subscriber line (DSL). Service provider is responsibility of tenant. 0 or 5 points 6.3.5 Developer characteristics related categories. (20 points maximum) 6.3.5.1 Projects that receive the weighted average or greater of the syndication value per tax credit dollar (in cents) based on the weighted average cents per dollar of all Projects submitted in that round. 0 or 10 points 6.3.5.2 Projects with participation in the Development Team by a firm designated as an Iowa Targeted Small Business. Points will only be available in this category for the following Development Team members: general partner, Consultant, tax accountant, engineer, architect, general contractor, management company and tax attorney. Joint ventures, subcontracts, or joint fee arrangements cannot be used to score points in this category. 0 or 10 points SECTION 7. NOTICE OF THE TAX CREDIT AWARD. 7.1 Written Notice of Tax Credit Awards. Once IFA has reserved Tax Credits, a written notice of Tax Credit Reservation shall be faxed and mailed to all approved Ownership Entities. The effective date of the award will coincide with the date of the written notice. The unsuccessful Ownership Entity shall be notified by fax and by mail that IFA did not select their Projects, including an explanation as to why IFA did not select the Project. 7.2 Waiting List. The Board may establish a waiting list for unsuccessful Projects. The Board in its discretion may adjust the order on the waiting list for any reason, including but not limited to the result of an appeal. A Developer placed on the waiting list shall be required to reapply for Tax Credits if the Developer seeks funding from the next cycle of Tax Credit awards. Placement on the waiting list does not imply either directly or indirectly that the Board will forward fund the Developer's Project. The waiting list may be established based on financial feasibility, relative scoring, developer concentration, geographic distribution, or any of the other criteria described 8/12/03 22 in the QAP. If Tax Credits become available, the Application will be reviewed to ensure that the Developer continues to satisfy all of the requirements of the QAP. If the Developer is in compliance with the QAP, the Board, at its next regular meeting, may make a Tax Credit Reservation award. SECTION 8. POST RESERVATION REQUIREMENTS. Once a Tax Credit Reservation has been awarded, the following additional requirements will apply. Failure to comply with any provision of this Section may result in the revocation of the Tax Credit Reservation, denial of the Carryover Allocation, issuance of Form 8609 or the issuance of Form 8823. 8.1 Construction. Construction must begin on a Project within 18 months from reservation date. 8.1.1 IFA may periodically request a status report on the Project's construction timeline 8.2 Amendments to the Application After Award. A Developer may amend, with IFA's consent, an Application after a reservation of Tax Credits is made solely for the purpose of showing changes as described in this Section. This Section does not apply to Tax Credits reserved for a Tax -Exempt Bond Project qualifying pursuant to Section 3 of this QAP. 8.2.1 Sources and uses of funds that do not increase the amount of Tax Credits awarded. 8.2.2 A minor change in the nature of the Project or changes in partnership members, shareholders, or limited liability members. 8.2.3 Changes to the equity investors, syndicator or equity partner. 8.2.4 Site changes that are equal to or exceed the site characteristics of the site first described in the Application. A site change will be permitted only if in IFA's sole discretion the substituted site does not reduce the number of points awarded during the evaluation process and it is within the same city. 8.3 Material Changes. If, upon the submission of the Carryover Application or the Form 8609 Application, or at any other time, it is determined that the Project is not substantially the same as the Project described in the Application, the Project will not receive an allocation of Tax Credit Reservation, or the amount of the Tax Credit will be adjusted or an IRS form 8823 will be issued. It is expected that the Projects will be the same as were originally scored under this QAP. 8.3.1 Generally, changes in the total number of Tax Credit units, number of bedrooms per unit mix, special needs targeting, and tenant mix (low-income/market rate), are deemed to be material, and are not permitted. 8.3.2 Changes in the number of buildings and units contained in each building will be allowed if changes are required by local regulatory codes and the Developer has obtained written approval from IFA prior to making the changes. 8.3.3 Failure to notify IFA of a material change will result in the revocation of the Tax Credit Reservation or the issuance of Form 8823. 8.4 Transfers. Tax Credit Reservation and Carryover Allocations are not transferable. Form 8609 allocations will be issued only in the name of the Ownership Entity named in the Application. Transfers subsequent to the issuance of the Form 8609 allocation are subject to provisions of Section 420)(6) of the Code. 8/12/03 23 8.5 Return of Tax Credit. Tax Credit Allocations may only be returned in accordance with applicable U.S. Treasury Regulations on a date agreed upon by IFA and the Ownership Entity or in accordance with the provisions of Section 6.2.5. 8.6 Carryover Agreement. All Developers requesting a Carryover Allocation must submit all items described in IFA's current Carryover Application Package. 8.6.1. Marketable Title Requirement. As part of the Carryover Application package, the Ownership Entity must provide adequate evidence that the Ownership Entity's title in the real estate on which the Project is to be located is a marketable title pursuant to Iowa Land Title Examination Standards, or other applicable law. Adequate evidence of marketable title is demonstrated by either (1) a title opinion of an attorney authorized to practice law in Iowa showing marketable title in the Ownership Entity or (2) a title guaranty certificate issued by the Title Guaranty Division of IFA showing the Ownership Entity as the guaranteed. 8.7 Form 8609. All Developers requesting an IRS Form 8609 allocation must submit all items described in IFA's current Form 8609 request package. 8.8 Change in General Partner, Majority Shareholder or Managing Member. In the event there is a proposed change in a general partner, majority shareholder of a corporation or majority membership of a limited liability company after the Tax Credit Allocation has been made, IFA shall be notified by the partnership, corporation or limited liability company to obtain approval prior to the effective date of such change. The new general partner or new majority shareholder shall agree to meet the requirements described in the QAP before IFA shall consent to the change. If the requirements outlined in the QAP are not met, the request for transfer may not be approved. If IFA is not notified of a change in the general partner, IFA may issue a Form 8823. SECTION 9. APPEALS. A Developer whose Application has been timely filed may appeal IFA's reservation of Tax Credits by filing a written notice of appeal within seven days of the reservation before the Iowa Finance Authority, 100 East Grand Avenue, Suite 250, Des Moines, Iowa 50309. Filing a notice of appeal shall not stay the Tax Credit Reservations made by IFA. The notice of appeal must actually be received at this address within the time frame specified to be considered timely. The notice of appeal shall state the grounds upon which the Developer challenges IFA's reservation. 9.1 Procedures for Developer Appeal. Any appeal of Tax Credit Reservations shall be heard by the Executive Director of IFA. The Executive Director shall grant the appellant reasonable opportunity to gather information and inquire as to why Tax Credits were not reserved. The Executive Director shall allow the appellant and IFA staff to make a presentation bringing forth all the relevant facts supporting their respective position. Such presentation shall be held no later than thirty days after the filing of an appeal. 9.2 Decision. Within seven days of the presentation, the Executive Director shall issue a written decision which clearly states why the appellant should have been reserved Tax Credits or why the decision to not reserve Tax Credits was appropriate. Such decision shall be delivered to the appellant and the Board. 9.3 Remedies. If the Executive Director determines that the appellant should have been reserve Tax Credits, the Executive Director shall include in the written decision a recommendation that the Board place the Project on a waiting list for unreserved or returned credits. 8/12/03 24 9.4 Final Agency Action. After receiving a written decision from the Executive Director, the Board must either approve or decline to approve the Executive Director's recommendation no later than the next regularly scheduled Board meeting. Such action by the Board shall be the final decision of the agency. 9.5 Judicial Review. Judicial review of IFA's final decisions may be sought in accordance with Iowa Code Section 17A.19. SECTION 10. COMPLIANCE. IFA is required to establish procedures for monitoring compliance with the provisions of IRC Section 42 and for notifying the Internal Revenue Service of any noncompliance. Each Ownership Entity is required to comply with the requirements described in this Section, the Treasury Regulations governing Section 42, and the compliance manual adopted by IFA pursuant to 265 IAC 12.3. 10.1 Record Keeping. For each year in the Compliance Period, the Ownership Entity or its successor in interest shall keep records for each qualified low-income building in the Project consistent with the Treasury Regulations governing Section 42. The Ownership Entity or its successor in interest shall retain these records for each building in the Project for at least six years after the due date (with extensions) for filing the federal income tax return for that year. The records for the initial taxable year must be retained for at least six years after the due date for filing the federal income tax return for the last year of the Compliance Period of the building. 10.2 Certifications. The Ownership Entity shall make all necessary certifications required by IFA for the preceding 12-month period as described in the Treasury Regulations governing Section 42. 10.3 Review and Inspections. IFA shall review the certifications submitted in conformance with the Treasury Regulations governing Section 42 effective on the effective date of this QAP. IFA shall have the right to inspect the Projects in conformance with the standards set forth in the Treasury Regulations governing Section 42. IFA will provide 48 hours' advance notice to the Ownership Entity to inspect any individual units in a Project. Otherwise, advance notice to the Ownership Entity is not necessary for purposes of the inspection provisions set forth in the Treasury Regulations governing Section 42. The owner certifications and reviews of compliance reports shall be made annually, the physical inspections and tenants files once every 3 years covering the 15-year Compliance Period under IRC Section 42(i)(1). If the Ownership Entity agreed to an extended Compliance Period, the reviews, audits and inspections shall continue through the length of the Compliance Period. IFA may require that certifications, reviews and inspections be made more frequently, provided that all months within each 12-month period are subject to certification. 10.4 Notice of Noncompliance. IFA will provide prompt written certified notice to the Ownership Entity of a Project if found to be out of compliance. The notice will describe the events of noncompliance and advise the Ownership Entity of the Tax Credit Project of the time period to correct the events of noncompliance. 10.5 Correction period. The correction period shall not exceed 90 days from the date the notice of noncompliance is sent to the Ownership Entity. IFA may extend the correction period for up to six months, but only if IFA determines there is good cause for granting the extension. During the 90 day time period, or an extension thereof, the Ownership Entity must supply any missing certifications and bring the Project into compliance with the provisions of IRC Section 42. 8/12/03 25 10.6 Notice to Internal Revenue Service. IFA will send a written notice to the Internal Revenue Service along with Form 8823 in the event of a finding of noncompliance by a Ownership Entity. Copies of Form 8823 and the Internal Revenue Service notice will be forwarded to the Ownership Entity. 10.7 IFA Retention of Records. IFA shall retain records of noncompliance or failure to certify for six years beyond IFA's filing of the respective IRS Form 8823. In all other cases, IFA will retain the certifications and records described in the QAP for a period of three years from the end of the calendar year in which IFA receives the certification and records. 10.8 Delegation of Monitoring. IFA may retain an agent or other private contractor (the "authorized delegate") to perform compliance monitoring. The authorized delegate must be unrelated to the Ownership Entity of any building that the authorized delegate monitors. 10.9 Liability. Compliance with the requirements of IRC Section 42 is the responsibility of the Ownership Entity of the building for which the Tax Credit is allowable. IFA's obligation to monitor for compliance with the requirements of IRC Section 42 shall not make IFA liable for a Ownership Entity's noncompliance. 10.10 Effective Date. These procedures for monitoring for noncompliance became effective on January 1, 1992, were amended on February 3, 1993, and apply to buildings placed in service for which a Low -Income Housing Tax Credit is, or has been, allowable at any time. Notwithstanding the effective date, if IFA becomes aware of noncompliance that occurred prior to January 1, 1992, it is required to notify the Internal Revenue Service of that noncompliance. Glossary The following capitalized terms shall have the meanings set forth herein unless context clearly requires a different meaning. 1. Accessibility means buildings used by the public, accessible to, and functional for, the physically handicapped, to, through and within their doors, without loss of function, space, or facility where the general public is concerned. An Accessible Route means a continuous unobstructed path connecting all accessible elements and spaces in a building or facility that can be negotiated by a severely disabled person using a wheelchair and that is also safe for and usable by people with other disabilities. Interior Accessible Routes may include corridors, floors, ramps, elevators, lifts, and clear floor space at fixtures. Exterior Accessible Routes may include parking, access aisles, curb ramps, walks, ramps and lifts 8/12/03 26 2. Affiliate means a corporation, partnership, joint venture, limited liability company, trust, estate, association, cooperative or other organization or entity of any nature whatsoever that directly, or indirectly through one or more intermediaries, Controls, is Controlled by, or is under common Control with any other person, and specifically shall include parents or subsidiaries. 3. Applicable Fraction means the fraction used to determine the Qualified Basis of the qualified low-income building, which is the smaller of the unit fraction or the floor space fraction, as defined more fully in IRC Section 42(c)(1). 4. Applicable Percentage means the percentage multiplied by the Project's Qualified Basis to determine the annual Tax Credit available to the Ownership Entity for each year of the Tax Credit Period and as more fully described in IRC Section 42(b). 5. Application or Application Package means those forms and instructions prepared by IFA to make a determination to allocate Tax Credits. Developers are required to use the forms contained in the Application Package. The Application must include all information required by the QAP and as may be subsequently required by IFA. 6. Assisted Living means housing with services as defined in Chapter 231 C of the Iowa Code. 7. Area Median Gross Income (AMGI) means the most current tenant income requirements published by HUD pursuant to the qualified Low -Income Housing Project requirements of IRC Section 42(g). 8. Board means the Board of Directors of IFA. 9. Brownfield Site means an abandoned, idled, or underutilized industrial or commercial site where expansion or redevelopment is complicated by real or perceived environmental contamination. A Brownfield site includes property contiguous with the property on which the individual or commercial facility is or was located. A Brownfield site shall not include property which has been placed or is proposed to be included on the national priorities list established pursuant to the federal Comprehensive Environmental Response, Compensation, and Liability Act, 42 U.S.C.} 9601 et seq. Completed EPA Phase 1 documentation is required to qualify as a Brownfield site for purposes of the QAP. 10. Builder General Requirements (job overhead) means items, which will vary due to Project type, location and site conditions. This category generally includes but is not limited to supervision, job site engineering, job office expenses including clerical wages, whether on -site or offsite, if for the Project, temporary buildings, tool sheds, shops and toilets, temporary heat, water, light and power for construction, temporary walkways, fences, roads, siding and docking facilities, sidewalk and street rental, construction equipment rental not in individual trade item costs, clean-up and disposal of construction debris, medical and first aid supplies and temporary facilities, watchman's wages, security cost and theft and vandalism insurance signage or other barriers. 11. Builder Overhead means the cost of continuing operations of a building construction firm. 12. Builder Profit means the return anticipated for providing building construction services under competitive conditions taking into consideration on -site construction time, work performed by the builder, number of subcontractors and extent of subcontract work and risk and responsibility. 13. Carryover Agreement and Allocation and Ownership Entity's election statement means an allocation of current year Tax Credit Reservations by IFA pursuant to IRC Section 42(h)(1)(E) and Treasury Regulations § 1.42- 6 and the Carryover Agreement and Carryover Application filed by an Owner Entity. 14. Code or IRC means the Internal Revenue Code of 1986 as amended together with any applicable regulations, rules, rulings, revenue procedures, information statements or other official pronouncements issued there under by the United States Department of the Treasury or the Internal Revenue Service relating to the Low -Income Housing Tax Credit Program authorized by IRC Section 42. These documents are incorporated in the QAP by reference pursuant to 265 IAC §§ 17.4(2) and 17.12(2). A copy of the Internal Revenue Code and Treasury regulations and related information relating to this program are found in the state law library and are available for review by the public. 15. Compliance Period, as defined in IRC Section 42(i)(1) as amended to January 1, 1986, means, with respect to any building, the period of 15 consecutive taxable years beginning with the first taxable year of the Tax Credit Period unless extended by the Owner Entity to a longer period of time. 9/12/03 27 16. Computer Learning Center means an area and/or room designated within the project containing 1 or more computer(s) and related hardware (i.e. printer, modem for internet access) that is part of an organized program that provides computer related opportunities and training that has as it focus at least one of the following areas: job skills training to enhance employment opportunities, introduction to/familiarization with computers, basic adult education, literacy, GED, Economic Development (micro enterprises, small businesses, telecommuting), youth education, senior services, or continuing education. To qualify as a Computer Learning Center the Developer must provide the following minimum information: a) Description of the center's purpose and its intended customers/clients; b) Focus and objective of center; c) Time Line; d) Retrofitting or construction required; e) Equipment (hardware, software); f) Staffing of Center; g) Third PartyNoluntary Organizations participation and funding for initial set up and ongoing maintenance and operational costs; h) Training Program and Classes and i) Budget showing how center will be set up and maintained. 17. Consultant fee means a fee paid to a housing consultant. No entity having an identity of interest with the Developer may earn a fee for providing services that would otherwise be provided on a fee basis by a housing consultant. Consultant efforts must be directed exclusively towards serving the specific Project being proposed. 18. Control (including the terms Controlling, Controlled by, under common Control with, or some variation or combination of all three) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of any Person or Affiliate thereof, whether through the ownership of voting securities, by contract or otherwise, including specifically ownership of more than 50 percent of the general partner interest in a limited partnership, or designation as a managing general partner or the managing member of a limited liability company. 19. Day Care means a Department of Human Services licensed Day Care. 20. Debt Service Coverage Ratio means the ratio of a property's net operating income (rental income less operating expenses and reserve payments) to foreclosable, currently amortizing debt service obligations. 21. Developer 21.1 The Developer is acting as agent for the eventual owner or taxpayer benefiting from an award of a Tax Credit Reservation. 21.2 The Developer and any of its successors in interest will be bound by the representations made in the Application. Further, the Developer or its successors shall be obligated to cant' out the commitments made to IFA by the Sponsor on its own behalf or on behalf of other Persons or Affiliates. 22. Developer's Equity means Developer's contributions of cash and land, but does not include Developer's Fee or Syndication proceeds. Developer's Equity will only be considered if the equity remains in the Project throughout the Compliance Period and not taken out from surplus cash flow, cash flow notes or mortgages or any other method. 23. Difficult Development Area means any area that is so designated by the Secretary of HUD as an area which has high construction, land, and utility costs relative to area median family income. 24. Eligible Basis means, with respect to a building within a Project, the building's Eligible Basis at the close of the first taxable year of the Tax Credit Period and as further defined in IRC Section 42(d). 24.1 Eligible Basis shall not include garages or storage units or other amenities where the Ownership Entity is charging tenants for the use of the garage or storage unit or other amenities, except when the garage or storage units or other amenities are part of normal rent for all of the units in the Project. 24.2 If a grant is made with respect to any building or its operation during any taxable year of the Compliance Period and any portions of such grant is funded with federal funds, the Eligible Basis of the building for that taxable year and all succeeding taxable years must be reduced by the portion of the grant. 25. Eligible Basis for Rehabilitation Project includes the definition of Eligible Basis with the adjustments described in this Section. No Tax Credit is available for acquisition of an existing building unless: 25.1 The building is acquired by purchase; 25.2 Subject to limited exceptions, at least ten years has elapsed since the building was last placed in service or if more recent the date of certain improvements costing at least 25% of the Ownership Entity's' adjusted basis in the building; 25.3 The building was not previously placed in service by a related person to the current Ownership Entity. For the purposes of this paragraph "related person" shall have the same meaning as Section 42(d)(2)(D)(iii); and 25.4 The used building is rehabilitated in a manner which is eligible for Tax Credit. 26. Enterprise Community is as defined by HUD. 8/12/03 28 27. Enterprise Zone is as defined by IDED. 28. Evaluator means members of IFA Staff, temporary staff hired to evaluate the Tax Credit Applications, or staff from other state agencies, including but not limited to the Department of Human Services, Department of Elder Affairs and IDED. 29. Forward Funding shall have the same meaning as described in IRC Section 42(b)(2)(A)(ii)(I) and 42(h)(1)(C). 30. Frail Older Person means an Older Person requiring assistance with three or more activities of daily living. Also see Tenants with Special Housing Needs in this Glossary. 31. Governmental Entity or Political Subdivision means federal or state agencies, departments, boards, bureaus, commissions, authorities, and political subdivisions, special districts and other similar entities, their employees, board members or agents. 32. Housing Projects for Older Persons shall have the same meaning as described in 42 U.S.C. Section 3607(b)(2). 33. Hard Construction Costs mean the following items: Site improvements or work, New construction, Accessory buildings, Garages, General Requirements, Trade Items (Building materials), Construction contingency, Builder's overhead, Builder's Profit, Bond Premium, Other Fees, Architect's and Engineering Fees —Design, Architect's and Engineering Fees — Supervisory, Rehabilitation. 34. Housing Credit Agency means IFA. Pursuant to Iowa Code Section 16.52, IFA is charged with the responsibility of allocating Tax Credits pursuant to IRC Section 42(h)(8)(A) and pursuant to Iowa Code Section 16.52. 35. HUD means the United States Department of Housing and Urban Development, or its successor. 36. IDED or DED means the Iowa Department of Economic Development or its successor. 37. Identity of Interest means a financial, familial or business relationship that permits less than an arm's length transactions. No matter how many transactions are made subsequently between persons, corporations, or trusts Controlled by the Ownership Entity/Developer, these subsequent transactions shall not be considered "arm's-length". Identity of interest includes but is not limited to the following: the existence of a reimbursement program or exchange of funds; common financial interests; common officers, directors or stockholders; family relationships among the officers, directors or stockholders; the entity is Controlled by the same group of corporations; a partnership and each of its partners; a limited liability company and each of its members; or an S Corporation and each of its of its shareholders. 38. In -fill Lot means land that has been platted and subdivided, must have been previously improved and may not have been taxed as agricultural land after the year 1970. 39. IRS means the Internal Revenue Service, or its successor. 40. Integrated Setting means mixed population housing that is integrated "in the community" rather than in certain buildings. 41. Joint Review Team means representatives of IFA and the IDED that are appointed by each agency to review Projects that have requested funding by IFA's Tax Credit Program and HOME funds. Staff for each agency will make recommendations regarding Tax Credit awards and HOME awards to their respective decision makers. A decision by one agency to fund a Project does not bind the other agency to fund a Project. The failure to provide funds is a financial feasibility issue that could ultimately disqualify the Project from consideration. A Joint Review Team maybe formed with other funding sources. 42. Land Use Restrictive Covenants a/k/a Land Use Restrictive Agreement (LURA) means an agreement between IFA and the Ownership Entity and all of its successors in interest where the parties agree that the Project will be an affordable housing Project for the length of the Compliance Period elected by the Ownership Entity and upon which the award of Tax Credits was in part, based. The LURA will contain restrictive covenants that must encumber the land where the Project is located for the life of the agreement. The LURA must conform to the requirements of IRC Section 42(h), Iowa Code Section 16.52 and the QAP. 9/12/03 29 43. Local Contributing Effort means contributions by local governmental units or by local or regional agencies, public or private. Contributions may include but are not limited to: land, building(s), infrastructure, cash, TIF proceeds, local HOME grants or loans, tax abatement, value received from Enterprise Zone site remediation (Brownfield), private contributions, loans at substantially below market interest rates or with favorable features such as delayed principal and interest, utility costs reductions, employer assisted housing programs (EAH), rent or operating deficit guarantees, the value of a charitable property tax exemption for Non -profits, a below market rate loan or grant from the Federal Home Loan Bank through a member bank, infrastructure improvements, an equity contribution by a Developer/Ownership Entity from the Project location (Notwithstanding the definition of private agency included in 265 IAC Rule 1.9, a deferred development fee contributed by a Developer from the location where a Project will be built does not qualify as a local contributing effort.), an equity contribution by a tax-exempt Developer/Ownership Entity from the Project location, the value of an in -kind contribution by a tax-exempt organization, tax-exempt bond financing from a local political subdivision and property acquired at below appraised value from a local political subdivision. Examples that do not qualify as Local Contributing Effort include but are not limited to: a HOME loan from the IDED or Tax-exempt bonds issued through IFA. 44. Low -Income Unit means any residential rental unit if such unit is rent -restricted and the occupant's income meets the limitations applicable as required for a qualified low-income housing Project. 45. Main Street Program means an IDED designated area. 46. Metropolitan Statistical Area (MSA) means a central city containing at least 50,000 people with a total metropolitan population of at least 100,000 as defined by the U.S. Bureau. The MSA list for Iowa is attached to the Application. 47. Non-MSA County means all counties not listed as a MSA. 48. Older Persons means a person 55 years of age or older, in accordance with State law. 49. Ownership Entity 49.1 Ownership Entity means any Person and any Affiliate of such Person: 49.2 Submitting an Application to IFA requesting a Tax Credit Reservation pursuant to this QAP. 49.3 Who receives a Tax Credit Reservation, Carryover Agreement or 8609 Tax Credit Allocation. 49.4 Who is the successor in interest to the Developer who owns or intends to own and develop a Project or expects to acquire Control of a Project consistent with Control documents provided by the Ownership Entity to IFA as part of the Application. 50. Person shall have the same meaning as contained in Iowa Code Chapter 4. 51. People with Disabilities or Disability The term "disability" means, with respect to an individual (A) a physical or mental impairment that substantially limits one or more of the major life activities of such individual (B) a record of such an impairment; or (C) being regarded as having such an impairment. 52. Project means a low-income rental housing property the Developer of which represents that it is or will be a qualified low-income housing Project within the meaning of IRC Section 42(g). With regard to this definition, the Project is that property which is the basis for the Application. 53. Property means the real estate and all improvements thereon which are the subject of the Application, including all items of personal property affixed or related thereto, whether currently existing or proposed to be built thereon in connection with the Application. 54. Qualified Allocation Plan (QAP) means an allocation plan to select and award Tax Credits to qualified recipients. The requirements of the QAP apply to any tax-exempt bond financed Project. Tax-exempt bond financed Projects must pay particular attention to the Sections of the QAP relating to these Projects. 55. Qualified Basis means, with respect to a building within a Project, the building's Eligible Basis multiplied by the Applicable Fraction, within the meaning of IRC Section 42(c)(1). 56. Qualified Census Tract means any census tract which is so designated by the Secretary of HUD and, for the most recent year for which census data are available on household income in such tract, either in which 50 percent or more of the households have an income which is less than 60 percent of the adjusted gross median income for such year or which has a poverty rate of at least 25 percent. 57. Qualified Non-profit Organization or Non-profit means an organization that is described in IRC Section 501(c)(3) or (4), that is exempt from federal income taxation under IRC Section 501(a), that is not affiliated with or Controlled by a for - profit organization, and includes as one of its exempt purposes the fostering of low-income housing within the meaning of IRC Section 42(h)(5)(C) and is allowed by law or otherwise to hold and develop property. 8/12/03 30 58. Qualified Non-profit Project means a Project in which a qualified Non-profit organization has Control (directly or through a partnership or wholly owned subsidiary as defined in IRC Section 42(h)(5)(D)(ii)) and materially participates (within the meaning of IRC Section 469(h)) in its development and operation throughout the Compliance Period, 59. Qualified Residential Rental Property shall have the same meaning as defined in IRC Section 103. 60. Real Estate Owned (REO) Projects means any existing residential development that is owned or that is being sold by an insured depository institution in default, or by a receiver or conservator of such an institution, or is a property owned by HUD, Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), a federally chartered bank, a savings bank, a savings and loan association, the Federal Home Loan Bank (FHLB), a federally approved mortgage company or any other federal agency. 61. Recovered Tax Credits means either Tax Credits previously awarded to a Project or Projects that cannot use all the Tax Credits the Project was awarded or Tax Credits from Projects that cannot be placed in service by the Developer/Ownership Entity. 62. Rehabilitation Expenditure means depreciable expenditures, which are for Property or improvements that are chargeable to the capital account and which are incurred in connection with the rehabilitation of a building. Rehabilitation Expenditures are not eligible for Tax Credits unless the expenditures are allocable to or substantially benefit one or more Low - Income Units and the amount of such expenditures during any twenty-four month period selected by the Developer is at least the greater of 10 percent of the Developer's adjusted basis of the building at the start of the twenty-four month period, or $6,000 per unit. See also, IRC Section 42(e)(2). 63. Section 1113(3)(A) Elementary School means an Elementary School in which 75% of children are from low-income families. An attachment to the Application provides the current list of Elementary Schools that meet the Section 1113(3)(A) requirements. 64. Self -Supported Municipal Improvement District means a district which has been created and the property therein taxed in accordance with Iowa Code Section 386. 65. Single Family means a single-family residence whether detached or vertically attached, including a townhome, duplex, triplex or fourplex. 66. Single -purpose Setting means housing that affords people with severe disabilities the opportunity to receive the services needed to live independently, and receive the peer support, encouragement and assistance that can enhance their overall quality of life. 67. State Ceiling means the limitation imposed by IRC Section 42(h) on the aggregate amount of Tax Credit allocations that may be made by IFA during any calendar year, as determined from time to time by IFA in accordance with IRC Section 42(h)(3). 68. Targeted Small Business means a business that has been certified as a Targeted Small Business by the Department of Inspections and Appeals. Only businesses meeting the requirements of the program and which are approved and registered with the Department of Inspections and Appeals are considered Targeted Small Businesses for the purpose of Tax Credit Program. 69. Tax Credit means the Low -Income Housing Tax Credits issued pursuant to the program, IRC Section 42 and Iowa Code Section 16.52. Tax Credits are determined under IRC Section 42(a) for any taxable year in the Tax Credit Period equal to the amount of the Applicable Percentage of the qualified basis for each qualified low-income building. 70. Tax Credit Allocation or Reservation amount means, with respect to a Project or a building within a Project, the amount of Tax Credit IFA allocates to a Project and determines to be necessary for the financial feasibility of the Project and its viability as a qualified low-income housing Project throughout the Compliance Period. 71. Tax Credit Period means, with respect to a building within a Project, the period of ten taxable years beginning with the taxable year the building is placed in service or, at the election of the Ownership Entity the succeeding taxable year, as more fully defined in IRC Section 42(f)(1). 72. Tenants with Special Housing Needs means affordable, supportive housing for People with Disabilities, Older Persons or Frail Older Person, certified Assisted Living, Transitional Housing for the homeless, or housing for families participating in organized programs to achieve economic self-sufficiency. 73. Total Project Cost means the total costs reflected in the Application. 74. Transitional Housing means a unit that contains sleeping accommodations, a kitchen and bathroom facilities and is located in a building which is used exclusively to facilitate the transition of homeless individuals to independent living with 24 months and in which a Governmental Entity or qualified Non-profit organization provides such individuals with temporary housing and supportive services designed to assist such individuals in locating and retaining permanent housing. 8/12/03 31 75. Unallocated or Unreserved Tax Credits means Tax Credits that were not awarded by IFA during its most recent round of allocation or are returned to IFA during the current year. These Tax Credits would be eligible for redistribution in accordance with the rules of IFA or may be carry forwarded to the next year's allocation cycle. 76. USDA means the rural housing division of the United States Department of Agriculture. 77. Utilities mean gas, electricity, water and sewer service. 8/12/03 32 Iowa Finance Authority Funded LIHTC Projects (bv countvl Prejacl e Project Name Project Address Project City County protect Zip Type Of Project •Of BMgs it Of Units Total Units Sponsor Contact Sponsor Mailing Address Contact Phom Monitor Inspect Year Beecam Apts. Ltd. 1501 42nd St, Ste. 294 91-15 Beacam Apts III 200 SW 6th Street Stuart Adair 50250 New 2 8 8 Philip Schneider Wast Des Moines, IA 50266 515-225-0000 Pete 20D4 Southern Iowa Housing LP I The Enlerpdse Social Investment Corp. 10227 Georgeae Wimwpin Circle, Ste 800 96-50 Riverview Apts 12236 Loomis Avenue Coming Adams 511841 1 New 1 1 12 1 12 Benson IColumbia, Maryland 21044-3400 410.772-2620 Pete 2002 Pentagram Corp. 136 N. Lawler PO Box 550 90-05 Holzhas Apts 121 E. Tilden Street Postville Allamakee 52162 New 1 6 6 Charles R. Kelly Poslville, IA 52162 563-864-7414 Julie 2004 Waukon Apts. LP 1119 S.E. 61h St. 93-09 Westwood Apts 619 & 631 3rd Ave. NW Waukon A1lamakee 52171 New 2 24 24 Dan Bresnahan Minneapolis, MN 55414 612-3794667 Julie 2004 Centerville Partners LP 1100 Main Street, Ste. 2700 95-71 The Landings 1110 E. Cross Sl, Bldg. A-C Centerville noose 52544 New 3 50 50 Bob Rousay Kansas City, MO 64105 816-531-81()Ol Petal 2002 add? Centerville Partners LP credit 1100 Main Street, Ste. 2700 95-11' The Landings 1110 E. Cross Street, Bldg AC Centerville Appanoose 52544 1 Nair, 95-11 Bob Rousey Kansas City, MO 64105 816-531-8100 1 College Square Panders LP College Square 400 Locust Street, Ste. 690 91-24 Village 1 1207-1221 Maplewood Dr Cedar Falls Black Hawk 50613 New 8 63 64 Michelle Nesvik Des Moms, to 50309 615-244-2622 Julie 2004 College Square Partners II Ltd. College Square 1119, 1127, 1129, 1109, 1031, 1107. 400 Looast Street, Ste 690 93-41 Village II 1029, 1027 Maplewood Drive Cedar Falls Black Hawk W613 Nov, B 64 64 1MIchelle Nesvik Des Mones, IA 50309 319-266-03051 Julie 20D4 Evansdale Sr Housing I LLC 1660 Embassy West Drive, Ste. 250 96-60 Fox Meadow Acts 715 Evans Road Evansdale Black Hawk 50707 New 1 40 40 Candy Koerpedch Dubuque, IA 52002 563-556-1188 Julie 2002 Stokes Sr Housing Ventures LP 515-17-19-21-25-27-29-31,603-05 139 Clark St. 07-09-15-17-19-21-25-27-29-31-36- PO Box 1623 97-06 W.C. Stokes Estates 384042-46-48-5052 Stokes Dr. Watedoo 1131ack Hawk 507031 Neer 7 28 28 Nikita M. Rainey Waterloo. IA 50704 319-236-2345 Julie 2002 Marsh Place LP 14 W 21at Sheel, Ste 3 PO Box 473 98-14 Marsh Place 627 Sycamore Street Waterloo Black Hawk 50703 Acg7Rehab1 1 1 25 1 25 Doug LaBounty Spencer, IA 51301 712-262-59651 Julie 2004 Pineview Partners LP 3850, 3860, 3870 & 3855, 3865 1 1 1 Lawmnce 1623 Famam St., Ste 830 9952 Pineview Apts Pmeview Place Waterloo Black Hawk 50701 New 2 50 54 1101amotta Omaha, NE 68102 402-341-08a8 Julie 2002 4126Y2O04 Iowa Finance Authority Funded LIHTC Projects (by county) Waterloo Apts. Partners, LLC 314 Randolph Acq/ 11912 Elm Street, Ste. 23 01-28 Pinnacle Apts. of Waterloo 416 Sullivan Street Watedoo Black Hawk 50703 Rehab 2 38 38 John C. Foley Omaha, NE 68144 402-963-9099 Julie 2004 Highland Park LP 1311-26 Prospect Ave. 139 Clark St. 1412-29 Prospect Ave. PO Box 1623 02-22 Stokes Manor 1502-28 Presped Ave. Waterloo Blade Hawk 50703 New 13 52 52 Nikita Rainey Waterloo, IA 50703 319-236-2345 Julie Boone I LP 260 Grey Avenue 95-50 Cedar Manor Apts 2003 Cedar Street Boone Boone 50036 New 1 24 24 Ted Oswald Waukee, IA 50263 515-689-859 Pete 2D02 Boone-Sundan iApts. LP Boone Sundance 1100 Main Street, Ste 2700 98-23 JAPts 1305 6 1309 S. Linn Street Boone Boone 50036 New 2 40 40 Bob Rousey Kansas City, MO 64105 816-531-8100 Pete 2003 203 Harrison St., LP Aaq/ 11912 Elm Street, Ste. 23 01-29 Pinnacle Apts. of Boone 203-207 Harrison Street Boone Boone 50036 Rehab 6 72 72 Jahn C. Foley Omaha, NE 68144 402-963-9D99 Pete 2004 BN/Unden LLLP 1414 Mississippi Blvd 03-26 Linden Apartments 1015 Parkway Drive Boone Boone 50036 New 2 25 25 Kathryn Mkocha Beftendorf, IN 52722 563-355-1845 Pete Waverly IHA LP 319 E. Washington SL, Ste 111 PO Box 1226 90-22 Lantern Park Apts 907 8909 6th Street NW Waverly Bremer 50677 New 2 16 16 Robert Bums two City, IA 52244 319.338-7600 Juliel 2004 Partners LP lWaverly 127 Public Square Maikxlde OH-01-27-0408 96-52 Rolling Meadows Apts 701 8 731 Ism Street SW Waverly Bremer 506771 New 2 54 54 Joseph Dedek Cleveland, OH 44114 216-689-0534 Julie 2002 Buchanan City Housing Assoc. LP 666 Walnut, Ste. 2500 g0-27 Bursa Vista Apts 325 10th Street Jesup Buchanan 50648 Acq/Rehab 1 8 8 Nicholas Roby Des Moines, IA 50309 515-288-2500 Jugs 2004 Independence LP 201 16th Ave. NW 666 Walnut Street, Ste 2500 9149 Wapste Valley Apts 120017 Ave. NW Independence lBuchanan 50644 Acq/Rehob 2 1 16 16 Nicholas Roby Des Moines, IA 50309 515.288-2500 Julia 2004 ACN Storm Lake Partners LP 7616 Hickman Road 95-43 Seneca Place Apts 1405 8 1409 North Seneca St Storm Lake Buena Vista 50588 New 2 48 48 Clark Why Jr. Des Moines, IA 50322 515-270-1985 Julie 2003 Holly Heights Apts. LP 11506 Nicholas, Ste 2D0 g6-32 Holly Heights Apts 18W 8 1 W4 E Milwaukee Street Storm Lake Buena Vista 50588 New 2 32 32 Don Day Omaha, NE 68154 402-493-260C Julie 2D03 Parkersburg Village LP 1514 16th Street 92-33 Parkersburg Village 1208, 1210, 1214 Florence St Parkersburg Butler 50665 New 3 20 20 Doug Dawns Des Moines, lA 50314 515-202-1068 Julie 2004 North Star E-M LP 503 E. 19th Street 91-06 IManson Family Aphi 1844 8 846 12th Ave. Marylon lCalhoun 50563 Acq/Rehab 2 8 6 R.D. Bartell Spencer, IA 51301 712-262-2979 Julie 2004 4/26/2004 Iowa Finance Authority Funded LIHTC Projects (by county) Lake City I LP 600 Sterart Street, Ste 1704 92-25 Lake City Raze Apts. 110 & 107 Weslview, Drive Lake City Calhoun 51449 New 2 16 16 John Hansman Seattle, WA 98101 206-443-232C Julie 2004 Regency Village Carroll, LP Regent' We 811 Plaza Drive 9047 Carrell 741 Granada Road, Bldg. A-D Carroll Camll 51401 Nev, 4 20 20 Randy J. Bien Carroll, IA 51401 712-792-5571 Pete 20D4 R-P Properties Ltd. 218 SE 168i Street Gene E. PO Box 426 91-31 Dakota Apis 504, 506, & 508 Dakota Street Glidden Carroll 52443 New 3 12 12 Dougherty Ames, IA 50010 515-2325665 Pete 2004 Fairview Village V LP 811 Plan Drive 91-52 Fairview Village V 704 & 710 East 18th St. Carroll Carroll 51401 New 1 20 20 Randy J. Bied Carmll, IA 51401 712-7925571 Pete 2004 Meadow Wood Assoc. of Carroll LP Meadow Wood 100 Court Ave., Ste 212 9743 of Carroll 1010, 1018 Woodland Drive Carroll Carroll 51401 Nev, 1 24 24 James Levy Des Moines, IA 50309 515-2435823 Pete 2002 Meadow Wood Assoc.of Carrell -II, LP Meadow Wood of 100 Court Ave., Ste 212 9958 JCarroll Phase II 1102 & 1 We Woodland Drive Canoll Carroll 51401 Nev, 1 23 24 James Levy Des Moines, IA 50309 515-243-58231 Peal 2002 Carroll IHA Sr. Housing LP 319 E. Washington St., Ste 111 PO Box 1226 00.23 Monterey Point 822 Monterey Drive Carroll Carrell 51401 New 1 24 24 Robert Bums Iowa City, IA 52244 3119.338-7600 Pete 2003 Atlantic Sundance Ape. LP Aean6c 1100 Main St., She. 2700 9859 Sundance Apts 1406 & 1410 E. 22nd Street Atlanac Can 50022 Nev, 2 32 32 Bob Rousey Kansas City, MO 64105 816-531-8100 Pete 2003 Tipton IHA LP 319 E. Washington St., Ste 111 PO Box 1226 9640 Bishop Hill Apts. 1708, 716, 724 W. 981 Steel Tipton Cedar 52772 New 3 24 24 Robert Bums Iowa City, lA 52244 319-338-7600 Connie 2002 Lake Congregate Care, LP The Meadows, Lake Gregory C. 800 Brick and Tile Bldg. 9052 Congregate Care 625 14th Avenue North Clear Lake Cam Gordo 50428 Nev, 1 10 24 Nicholas Mason City, IA 50401 6414234264 Julie 2004 1600.1601 Royale Circle The Meadows of Mason City LP The Meadows 1600 & 1604 10th St SE Chades L 1800 Commerce Drive 96-73 of Mason City 1601 9th St BE Mason City Cerro Gorda 50401 New 5 60 60 LaGow North Mankato, MN 56003 507-625-5505 Julie 2002 Rockwell 1 LP 503 3m1 Street 1 400 Locust Street, Ste. 640 97-61 Oakbrook Apts 504 4th Street Rockwell Cam Gorda 50579 AcgrRehab 2 16 16 Dave Midlyng Des Moines, IA 50309 515-281-9269 Julie 2003 Pebble Creek Assoc. LP 100 Court Ave., Ste 212 9048 IPebble Creek Apts 1150 S. Grover Avenue'A' Mason City Cann Gordo 50401 New 2 32 32 James Levy Des Moines, to 5=9 515-243-68231 Julie 2003 Meadow Lake Assoc. LP 100 Court Ave., Ste 212 99-71 Meadow Lake Apts 110913udd Holly Place IClear Lake I Cerro Gordo 1 504281 New 2 31 32 James Levy Des Moines, IA 50309 515-243-5823 Julie 2002 4/26/2004 Iowa Finance Authority Funded LIHTC Projects (by county) River City LP 14 West 21st St. PO Box 473 02-15 River City Apts. 15 N. Pennsylvania Ave. Mason City Carr Gordo 50401 Acq/Rehab 1 41 46 Doug LaBounty Spencer, IA 51301 712-262596 Julie 100 Court Ave., Ste. 212 02-21 Pebble Creak Apts. II 190, 194. 198 S. Grover Ave. Mason City Cerro Gordo 50401 New 3 32 32 James Levy Des Moines, IA 50309 515.2435823 Julie 603 & 605 S. Polk Ave 815, 017, 019, 821, 023, 825, 827. 829. Grant Village Senior Housing LLC 831, 833, 835, 837, 839, 841, 843 6th 6515 Grand Teton Plaza, Ste. 220 03-15 Grant Village Street SW Mason City lCemo Gordo 50401 AcgrRehab 17 62 1 64 Dwight Zack Madison, W153719-1048 608-883-0075 Julie Cherokee l LP 4745 North 7th Street, Ste 110 93-24 Willowbrook Apts 925 Jeffries Street Cherokee Cherokee 51012 New 1 24 24 William Spreitrer Phoenix, AZ 85014 602-279-9300 Julie 2004 Lewis Apts. GP Regina 1457 North Stith Avenue 94-03 Lewis Apts 231 West Main Street Cherokee Cherokee 51012 Acq/Rehab 1 20 20 Worthington Omaha, NE 68114 402392-2422 Julie 2004 Osceola Estates LP PO Box 7W8 91-01 Osceola Estates 621, 623, 625 Ayers Street Osceola Clarke 50213 New 3 24 24 Ann Townsley Columbia, MO 65205 573-M-2021 Connie 2004 Western Prairie Land & Livery Co. 4445 Corporate Drive, Ste 126 94-40 ISouthem Hills Apts 420 S. Gusliin Bldg A-C Osceola Clarke 50213 Acq/Rehab 3 24 24 Dane Shelton 1W.1 Des Moines, IA 502665910 515-2235100 Connie 2002 ACN Osceola Partners 1100 Main Street, Ste 2700 97-17 Country Club Apts 263 Manor Drive Osceola Clarke 50213 New 2 48 48 Bob Rousey Kansas City, MO 64105 816-531-8100 Connie 2003 North Star W-H, LP 503 E. 19th Street 90-49 North Star Apfs. 505 - Sun Avenue Webb Clay 51355 Aoq/Rehab 2 8 8 R.D. Bartell Spencer, IA 51301 712-262-2979 Juliel 2004 101 1st Street NW John PO Box 66 00-42 Fairway Estates 100 12th St SW Spencer Clay 50703 New 3 24 24 Grosenhehder LeMam, IA 51031 888-619-6003 Julie 2003 McGregor Partners LP 91-55 Valley View Apts. 1115 Buell Avenue McGregor Clayton 1 52157 1 New 1 15 15 Gerald Wafters, Jr. 6735 Visstagreen Way, Ste 100 Rockford, IL 61107-5654 815-282-0022 Julie 2004 Postvi8e Partners LP 1100 Main Street, Ste 2700 9735 Pheasant Run Apts 523, 525, 527 Lilac Lane postville C-layton 515% New 3 36 36 Bob Rousey Kansas City, MO 64105 816-531-8100 Jule 2004 Gary Foster 110, 112, 114, 116, 118, 120, 2148 Comanche 92-08 North View Apts 122 27th Ave. N. Clinton Clinton 52732 Acq/Rehab 1 7 7 1Gary L. Faster Clinton, M 5Z732 319-242-6604 ConniM2OO2 Clinton Partners LLC Lawrence 1623 Famam St., Ste 830 95-76 Pheasant Run Apts 130114th Street DeWitt Clinton 52742 New 1 24 24 M... Omaha, NE 68102 402-341-08a8 Conni 4/26/2004 Iowa Finance Authority Funded LIHTC Projects (by county) .. Clinton Partners LLC Lawarice 1623 Famam St., Ste 830 9637 Pheasant Run Apts 130314th Street DeWitt Clinton 52742 New 1 24 24 M=oBa Omaha, NE 68102 402-341-0888 Connie 2002 Countryside of Clinton Assoc. LP 100 Court Ave., Ste 212 99-70 Countryside of Clinton 1140 North 11th Street Clinton Clinton 52732 New 1 31 32 James Levy Des Moines, LA 50309 515-2435823 Connie 2002 14 W 21st Sheet. Ste 3 PO Acy Box 473 01-08 Van Allen Apartments 200 5th Avenue South Clinton Clinton 52732 Rehab 1 17 19 Doug LaBounty Spencer, IA 51301 712-262-5965 Connie 2004 Candknidge Apts. Of Perry, LP Candleridge Apts PO Box 7747 9038 lot Perry 82D-22-24, 912-14-16 18th Street Perry Dallas 1 502201 New 6 23 23 Mark Peitzman Urbandale, IA 50322 515-270-02471 Connie 2004 60th Street Partnership 6017, 6127, 6137, 6147, 6257, 6367, 699 Walnut, Ste 2000 92-29 Sun Prairie Apts. 111 6377, 6387 Vista Dr. West Des Moines Dallas 50265 New 8 240 240 Linda Olson Des Moines, IA 50309 515-362-3W3 Connie 2004 Candleridge Apts of Waukee LP Candkdtlge Apts PO Box 7747, 92-40 Of Waukee 200 Laval St Waukee Dallas 50263 New 6 23 23 Mark Peitzmen Urbandale, W 50322 515270-8247 Connie 2004 Candleddge Apts. Of Pony 11 LP Candleridge Apts PO Box 7747 9331 Of Perry 2620 Mcignley Perry Dallas 50220 New 1 24 24 Mark Peitzman Urbandale, IA 50322 515-27D-8247 Connie 2004 65th Street Partnership 699 Walnut; Ste 2000 93-53 Sun Prairie Apts V 16409. 6419, 6429 Vista Drive W. Des Moines jDallas 50266 1 New 3 1 81 1 at Linda Olson loss Manes, IA 50309 515-362-3603 Conniel 2004 Candleddge Apts. Of Waukee LP II Candkridge Apts. PO Box 7747 9354 of Waukee II 212, 214, 216, 218, 220, 222 Laurel SL Waukee Dallas 50263 New 6 23 23 Mark Peltzman Urbandale, IA 50322 515-2704247 Connie 2004 65th Street Partnership 699 Walnut, Ste 2000 9435 Sun Praide Apts VI 6689 8 6699 Vista Drive West Des Moines Dallas 50266 New 2 69 69 Linda Olson Des Moines, IA 50309 515-362-3603 Connie 2002 658n Street Partnership 699 Walnut, Ste 20DO 94-37 Sun Prairie Apts VI 6539-49559-69-79 Vista Dr. West Des Moines Dallas 50266 New 5 120 120 jLInda Olson Des Moines, 01 50309 515362-W3 Connie 2002 Perry Partners LP 1100 Main Street, Ste 2700 97-59 Quail Run Apts 2902I r Street Perry I Dallas 502201 New 1 30 30 Bob Rousey Kansas City, MO 64105 816-531-8100 Connie 2003 Mid Iowa Affordable Housing LP 4745 North 7th Sheet, Ste 110 98-61 Lyn Circle Townhomw 1070-1166 Maple Leaf Lane Waukee Dallas 50263 New a 32 32 William Sprelit Phoenix, AZ 85014 602-279-9300 Connie 2004 Sugar Creek7Waukee LP 4745 North 7th Street, Ste 110 00-31 iSugarCreekAparments lGrant Parkway Waukee Dallas 50263 New 1 45 45 William Spreitzw Phoenix, AZ 85014 602-279-9300 Connie 2003 Windfield West LP 319 7th St., Ste 500 OD-35 Windfield West Apis. 301 Warrior Lane Waukee Dallas 50263 New 1 23 24 Kristin Saddons Des Moines, IA 50309 515246-801 Connie 2002 412612004 Iowa Finance Authority Funded LIHTC Projects (by county) Bdsben Town Center Villas LP 502 7800 E. Kemper Road 513389-199 01-45" Maple Omve Villas 88111 Sheet Wes( Des Moines Dallas 8013 New 31 240 240 Don Paxton Cincinnati, OH 45249 X 11C Connie 105 SE Wnd0eld Parkway Wes(LP Wl97th Wi 75 SE ndficd Parkway 5D 319 7ti1 Sl., Ste 500 02-03 Wnd0eld West Apts. 11 SE Wind%W Parkway Waukee, Dallas 50263 New 3 49 49 Kristin Saddods Des Moines, IA 50309 515-246-6016 Connie 2004 Manchester Park LP 1505, 1513 N. Franklin 600 Stewart Street SOB. 1704 90-35 Manchester Park Apts. III 104, 106, 108 Ludland Dr Manchester Delaware 52057 New 5 20 20 Jahn Hansman Seattle, WA 98101 206-443-2320 Julie 2004 Manchester Park 11 LP Manchester Park 600 Stewart Street Ste 1704 91-19 Apts II 105 & 109 Ludland Drive Manchester Delaware 52057 Acq/Rehab 2 8 8 John Hareman Seattle, WA 98101 206-443-232C Julie 2004 Countryside Assoc. of Manchester LP Countryside village 100 Court Ave., Ste 212 95-78 of Mandester 500 West Line Street Manchester Delaware 52057 New 1 24 24 James Levy Des Moines, IA 50309 515-243-5823 Julie 2002 3034 44. 302030, 2914-18, 2922-24, 2900-10,3205,3115, 31D5,3015 Columbia St Columbia Townhouse Assoc. LP Columbia 34551, 335-41 Columbus Dr 529 36th Sheet 88-10 Townhouses 310-19 Ordnance CL Bulingbn Ices Manes 52601 Rehab 9 50 50 Dan Roseliep Des Mones, IA 50312 515-274489 Pete 2003 Little River Development Co. 510 Main Street WCU Building 93-48 West Highland Apts. 611 West Van Weiss Blvd. West Budington Des Manes 52655 New 6 48 48 Steve Owsley Quincy, IL 62301 217-222-1707 Pete 2004 MDI, LP #61 1600 University Ave., #212 97-22 The Budington Arts. 206 N. 3rd Street Burlington Des Moines 52601 "Rehab 1 47 75 Jennifer Rugani St. Paul, MN 55104 651-523-1522 Pete 2003 Black Hawk Village LP 5354 Parkdale Dr., Ste, 350 01-31 Black Hawk Village 3420 Mason Road Burlington, Des Moines 52607 New 3 48 48 Roger Peterson St. Louis Park, MN 55416 952-543-2455 Pete 2004 Silver Lake Apts. LP 14 W 21st Street, Ste 3 PO Box 473 95�20 Silver Lake Apts. 212 East 4th Street Lake Park Dickinson 51347 New 1 10 10 Doug LaBounty Spencer, IA 51301 712-262-5965 Julie 2002 River West Apartments LP 127 Pudic Square Mailcode OH-01-27-0408 96-49 River West Apts 674 Terrace Park Blvd. Milford Dickinson 51351 New 1 30 30 Joseph Dedek I Cleveland, OH 44114 216fi09-0534 Julie 2004 14 W 21 s1 Street Ste 3 PO Sox 473 98-06 Lakewood Court 607 15th Street Spill Lake Dckkinson 51360 New 1 8 8 Doug aBounty Spencer, IA 51301 712-262-5965 Julie 20M Milfod Partners LP 815 Office Park Road. Ste 10 9837 Lakeside Apts 664 Terrace Park Blvd Milford Dickinson 51351 New 1 30 30 Waher Schroeder West Des Moines, IA 50265 515-267-WS Julie 2004 Summer6eld Park LP 14 W 21st Street Ste 3 PO Box 473 00-18 Surnmerfi ild Park 12302 d 2306 Sumner Avenue Sprit Lake Dickinson 1 513601 New 1 2 1 20 1 20 IDcug LaBounty Spencer, IA 51301 712-262-596 Julie 2003 4/26/2004 Iowa Finance Authority Funded LIHTC Projects !hv rnoer.d 89-31 Dyersville Park Apts 801 11th Ave. SE 1101 8tn St SE Dyersville Dubuque 52040 Acq/Rehab 2 8 8 Ted Oswald 260 Gray Avenue PC Be.820 Waukee, IA 50263 Martha's Haus, Inc. S15-689-8W Julie 20M 90-07 Martha's Haus 2217 Queen Street Dubuque Dubuque 52001 Rehab 1 10 19 Card Copeland 1330 Locust St. Dubuque, a 52001 Temance Mailers 563-556-1605 Julie 2004 90-12 Maiers8Schmitt Apt, LavAor and 155181571 Bluff 483 Lass Blvd. Dubuque Dubuque 52001 Acq/Rehab 2 10 10 Terrance J. Maisie 3090 Castle Wood Lane Dubuque, 1A 52001 Marcy Housing Iowa I LP 563-556-012 Julle 2004 91-10 92-11' Garvey Places Loral t A 8 Main St Apts 1337 Main 483,459,Win St. Lori Blvd 1337 Main St. Dubuque Dubuque Dubuque 0 ue 52001 52001 Acq/Rehab Acq/Rehab 2 is 16 addl credit 91-10 Stefanie Smith Stefanie Smith 601 E 18th Avenue, Ste 150 Denver, CO 80203 Mercy Housing Iowa I LP 601 E 18th Avenue, Ste 150 Denver, CO 80203 303.830-3387 303-830-3387 Julie 2004 Bishop$ Black LP 93-12 Bishop's Block Apt, 90 Main Street Dubuque Dubuque 52001 Acq/Rehab 1 32 32 Stefanie Smith 601 E 18th Avenue, Ste 150 Denver, CO 00203 303A30-3387 Julie 2004 Dubuque Sr. Housing I LP 9345 Applewood I 3125 Pennsylvania Avenue Dubuque Dubuque 52001 NOW t 46 46 Cathy Koerpnnrh 1660 Embassy West Drive, Ste 250 Dubuque, IA 52001 563-556-11a8 Julie 2004 Dubuque Sr. Housi 11II LP 94-53 Applewood SrApts II 3175 Pennsylvania Ave. Dubuque Dubuque 52001 Nev, 1 38 45 Calh K y oorPerich 1660 Embassy West Dr., Ste 250 Dubuque, IA 52001 563-556-1180 Julie 2002 Twin Sisters Subdivision, A Partnership 95-18 243 8247 Weat 11tn St 243 6247 Weal 11th St Dubuque D ue 52001 Rehab 2 10 10 Terrance J. Maisie 1050 Prince Phillip Drive Dubuque, IA 52003 MDI Limited Partnership #47 563-556-0123 Jugs 2002 00-03 Henry Scut Senior Apts. 125 W. 9tn Street Dubuque Dubuque 52001 Acq/Rehab 1 33 33 Jean Richard Eide 1600 Universily Ave., Ste 212 St. Paul, MN 65104 LP 651L46-7848 Julie 2003 02-17 Arbor Glen Raven Oaks Dr. and Crissy Dr. Dubuque Dubuque 52001 Nev, 8 47 64 Jae Weis ale Ave. S., So. 200 is, MN 55423 612-243-063 Julie a Regional Partnership L 7Pmnsylvania 03-23 Evergreen Meadows Peterson Drive - Peostn Dubu Dubuque q 52068 New 6 24 24 Kelley Deutney sylvania Ave, Ste, 200 52002 563-556-4166 Julie oint LP 03-35 Kennedy Point John F. Kennedy Circle Dubuque Dubuque 52002 New I 1 I16I 16 1. on Rankine 1170 Rooseveh Sheet Extension Dubuque, IA 52003 56&556-7560 Julie Garden Village of Estnerville LP 96-69 Garden Village Apia 202 8 204 S. 13th Street, Bldg A-B Estherville Emmet 51331 New 2 i6 16 John Hausman 600 Stewart Street, Ste 1704 Seatlle, WA 98101 206d43-2320 Julie 2002 4/26/2004 Iowa Finance Authority Funded LIHTC Projects 76.. +-% 98-71' Carden Village Apts II 202 6204 S. 131h Street, Bldg A-B Estherville Emmet 51334 New addl credit 96-69 Jahn Hausman Garden Village of Eshvville LP 600 Stewart Street, Ste 1704 Seattle, WA 98101 206-943.232 West Union IHA LP Westwood 319 E. Washington SL, Ste 111 93-34 Park Apts. 7ID, 712, 714 Jefterson St. West Union Fayette 52175 New 3 24 24 Robert Bums PO Box 1226 Iowa City, IN 52244 Oelwein Partners LP 319338-7600 Julie 2004 9835 Buffalo Alps and 41013m Avenue NW Oelwekn F ate 60662 New 2 36 36 Walter Schroeder 815 Office Pak Road, Ste 10 West Des Moines, IA 50265 515-267-8845 Julie 2003 Charles City IHA LP 319 E. Washington SL, Ste 111 90-21 Lanbm Pails Apls 601, 603, 605, 607 111h Street NW Charles City Floyd 50616 Nev, 1 21 24 Robert Bums PO Box 1226 Iowa City, IA 52244 319-338-760C Julie 20114 Hampton IHA LP 319 E. Washington SL. Ste 111 90-20 LanternPark Apts 200, 202, 204, 206 121h Street Hampton Franklin in 50441 New 4 24 24 Robert Bums Box 1226 Iowa City, IA 52244 319-338-7600 Julie 2004 Weslview Village LP 92-24 WesNiew Village Apts. 1250 Westwood, Bqg AL JeffersonGreene 501291 New 3 11 11 John Hansman 600 Sawart Street, See 1704 Seattle, WA 98101 206-443-2320 Pele 2004 Arlinglon Investments bwa 111 LP 99-03 Pheasant Hollow 91 D Avenue Grundy Center Grundy SM30 New 1 16 16 Richard Helgesor 1257 2nd Street North Sauk Rapids, MN 53679 320-252-2528 Julie 2004 %National Management, Inc. 8930 Clearview Manor Apts 1515 Wall Street, Bldg A-B Webster City Hamilton 50595 New 2 24 24 Ran Dupuy 12289 Stratford Dr. Clive, IA 50325 515-223-1113 Julie 2003 Praide Manor Company LP Prairieview %National Management 12289 95-51 ManorApts 1749 Lynx Webster City Hamilton 50595 New 7 24 24 Ron Dupuy Stratford Dr. Clive, IA 50325 515-223-1113 Jute 2002 Gamer Village Apts. LP 319 E. Washington SL, Ste 111 89-29 Gamer Vi9age Apts 355 12m Street, Bldg A-D Gamer Hancock 50438 New 4 24 24 Robert Bums PG Box 1226 Iowa City, IA 52244 31&338-7600 Julie 2003 Arington Investments bwa II LP 9M4 Pheasant Run Apts 1430 81440 E. Georgetown Rd Hardin 501 New 2 32 32 Richard Helg 1257 2nd Street North Sauk Rapids, MN 53679 320-252-2528 Jute 2004 Ml PleasantMt. rimeFalls Pleasant ParkLP600 91-22 Park Ap1s. 1202 Palm Ave., Bldg A-C �sanl Hen 52641 New 4 24 21 John Hausman StewartStreet,Ste1704 Seattle, WA 98f01 206-443-2320 Pete 2004 4/26/2004 Iowa Finance Authority Funded LIHTC Projects Ihv muntvl Winfield Village LP 95-33 Maple Place Apts. 405 S. Maple WlnBeld Henry 52659 New 3 24 24 Jennifer Rugani 1600 University Ave W., Ste. 212 St. Paul, MN 551043825 651 -646-7114f Pete 2004 Mt Pleasant II LP 9664 Chesapeake Apts 800 Palm Avenue, Bldg A-D Mt. Pleasant Harry 52641 New 4 32 32 William Spreltzer 4745 North 7th Street, Ste 110 Phoenix, AZ 85014 602-279-9300 Pete 21)02 addl Winfield Village LP credit 1600 University Ave. W., Ste. 212 96-71' Maple Place Apia. Addl credit for 95-33 Winfield Henry52659 New 9533 Lawrence Olson S<. Pau1, MN 55104-3825 651-646-784 Chesapeake Apts 1 MIL Pleasant II LP 9763 Phase II 800 Palm Ave., Bldg E, F. G Mt. Pleasant Harry 52641 New 3 24 24 Wiliam Spreitzer 4745 North 7th Street, Ste 110 Phoenix, AZ 85014 602-279-9300 Pete 2002 Lime Springs Partners LP %National Management, Inc. 93-07 Hilltop Apts 454 N. Miller Street Lime Sprrgs Howard 52155 New 1 15 15 Ran Du 12289 Stafford Dr. CWe. IA 50325 puy 515-223-0300 Julie 2004 Cresco Village LP 806636 2nd St SW 4745 North 7", Street, Ste 110 96-34 Crestview Village 205-235 10h Ave. BE, Bldg A-C Cresco Howard 52316 New 7 32 32 William Spreitzer Phoenix, AZ 85014 602-279-930C 806-8362nd St. BE addl Cresco Village LP Julie 2003 205-235101h Ave. BE credit 4745 North 7th Street. Ste 110 96-72` Crestview Village Add? credit for 95.34 Cresco Howard 52316 New 95-34 William Sprettzer Phoenix, AZ 85014 602-279-9300 Humboldt l LP 94-23 Bdarwood Apts. 1708. 1808, 1810 Wildcat Rd. Humboldt Humboldt 50548 New 3 20 20 Tracy LeBranti One Boston Plana, Ste 2100 Boston, MA 02108 617-624-8993 Jule 2002 Ivy Apts. LP 14 W 21st Street Ste 3 99-02 IlvyApls 2109",Street North Humboldt Humboldt New 1 12 12 Doug LaScur 9 ty POBox 473 Spencer. IA 51301 712-262-5965 Julie 2002 Ida Grove Apts. LP 95-06 Sunset Street Apts. 502, 506, 510 Sunset Street Ida Grove Ida 514451 New 3 1 24 1 24 I0m Nulle lice 205 Bums Street Grove, IA 51445 712364-2571 Julie 2002 Ida Grove IHA LP 319 E. Washington St, Ste 111 PO Box 1226 95-12 Maple River Apts. 1104, 1106, 1100 W 511h St Ida Gmve Ida 51445 New 3 24 24 Robert Bums Iowa City, IA 52244 319-338-7600 Julie 2002 Nor", English Park LP 260 Gray Avenue North English PO Box 820 90-31 Park Apts I320 W. Lakeview, Bldg A North English lava 52316 ACWRehab 1 8 8 Ted Oswald Waukee, lA 50263 515689-8592 Connie 2004 Green Prairie Carp. Whispering 1905 11101fiamsburg 1 136 N. Lawler 92-13 Pines Apts. W. North Street, Bldg A-D lima 1 52361 1 New 24 24 Chales R Ketly 1POstville, PO Box 550 IA 52162 __4__L 563-064-7414 Connie 2004 4/26/2004 Iowa Finance Authority Funded LIHTC Projects (by county) Marengo Park, BCP-Iowa LLC 1 One Boston Place, Ste. 2100 93-23 Marengo Park Apts 802 W Pine, Bldg A. IS. C Marengo Iowa 52301 New 3 24 24 Tracy LeBrant Boston, MA 02108 617-624-899 Connie 2004 Maquoketa Housing LP 901 Tremont 99-23 Hurst Apts 210 S. Olive Street, Bldg 13 Maquoketa Jackson 52060 New 3 18 16 Chns Ales Davenport, IA 52803 563-323-508C Connie 2002 319 E. Washington SL, Ste 111 PO Box 1226 99-31 Whitetail Run 800 Myatt Drive Maquoketa Jackson 5206C New 1 24 24 Robert Bums Iowa City. IA 52244 319-338-7600 Connie 2002 Candlendge Apts. Of Newton LP 1224, 1226, 1228, 1230, 1232, 1234 4th PO Box 7747 WAS Candleridge of Newton Ave W Newton Jasper 50208 New 6 23 23 Mark Peilzman Urbandale. IA 50322 515-270-8247 Pete 2003 Baxter Park LP 206 Harrison Court 258 Hyland Ave. 90-32 Baxter Park Apts 2DO W. State St Baxter Jasper 60028 New 3 16 16 Gary Heated Ames, IA 50010 515385-2304 Pete 20O4 Jewel LP 2037 Grand Avenue, Ste D 91-34 Jewel Apls 104 First Avenue East Newton Jasper 50208 1 AcglRehab 1 15 15 Mark Smart West Des Mainers, IA 50266 515224-0511 Pete 2004 Prairie City Park LP 600 Stewart Street, Ste 1704 92-22 Prairie City Park Apts. 601 S. Main Street, Bldg A-0 Pmirie City Jasper 50228 New 4 16 16 John Hansman Seattle, WA 98101 - 206443-2320 Pete 2004 Newton Plaza, BCP-Iowa LLC One Boston Place, Sle. 2100 93-29 Newton Plaza Apts 901 S. 13fh Ave East Newton Jasper 50201 New 1 24 24 Tracy LeBmmi Boston, MA 02108 617-624-899 Pete 2004 Meadow Wood Assoc. of 906-12, 9W920, 922-25, 91521 E. Newton LP Meadow Wood 16th St. N 100 Court Ave., Ste 212 94-33 Townhouses 151D-16 N. 911h Ave E Newton Jasper 50208 New 5 20 20 James Levy Des Moines, IA 50309 515-2435823 Pete 2002 Central Iowa Housing Assoc. LP Bruce 2231 SW Wanamaker Rd., Ste 300 785-272-139 9438 Hunter's Run Apts 821 South 13th Ave. E Newton Jasper50208 New 11 72 72 Chdslenson Topeka, KS 66614 x31 Pete 2002 Newton Partners LP 1100 Main Street, Ste 2700 97-14 Woodland Heights 200 N. 17th Ave. W, Bldg A-E Newton Jasper50208 New 5 54 54 Bob Rousey Kansas City, MO 64105 816-531-0100 Pele 2003 JBob NewilS onundance Apts. LP Newton Sundarice 1100 Main Street, Ste 2700 98-24 Apts 210 & 220 E. 288i Steel Nowt Newton liasper 502081 New 2 40 40 Rousey Kansas City, MO 64105 816-531-mix Pete 2003 Newton Hausig Partr LLC 1SWIS02 S. 7th Ave E 1610 S. 70th, Sle 201 98-72'• Forest View Apartments 1804-1806 S. 7th Ave E Newton Jasper 50208 New 2 24 48 Phil Perry Unooln, NE 68506 402-488-1666 Pate 2004 Kellogg Housing Partners LLC 1610 S. 70th, Ste 201 98-74^ Ridge View Aparbnents 101 Pleasant View Dr. Kellogg Jasper 50135 New 1 12 24 Phil Perry Llnmin, NE 88506 402488-1666 Pete 2004 4/2612OO4 10 Iowa Finance Authority Funded LIHTC Projects (bv county) Monroe Housing Partners LLC 1610 S. 70th, Ste 201 98-75" Gateway Apartments 505 W. Lincoln Monroe Jasper 50173 New 1 12 24 Phil Perry Lincoln, NE 60506 402438-1666 Pete 2004 Wagon Wheel LP 319 E. Washington St., Ste 111 Wagon Wheel 208#101-#109, 208 #210-#221, 208 PO Box 1226 9753 Sr Housing # 322- #333 S. Court St. Fairfield Jefferson 52556 New 1 33 33 Robed Bums Iowa City, IA 52244 319338-7600 Pete 2004 North Liberty Park LP North Liberty 9090 Wilshire Blvd., Ste., 201 89-25 Park Apts 225 & 245 S. Sugarcreek Lane North Liberty Johnson 52316 New 2 24 24 Alex Nguyen Beverty Hills, CA 90211 310-278-2191 Connie 2003 Coralville Housing Assoc. LP 22303234, 224"2, 225052-54, 2262 Bruce 2231 SW Wanamaker Rd., Ste 300 785272-139 90-19 Coral Ridge Apts 64 10th St Caalvide Johnson 52241 New 11 72 72 Christenson Topeka, KS 66614 X230 Connie 2004 Coralvllle Housing Assoc. LP Bruce 2231 SW Wanamaker, Rd., Ste 300 785-272-139 91-08 Coral Ridge Apts II 12220, 2222, 2224, 2226 Tenth Street ConalNlle Johnson 52241 New 4 30 30 Christenson Topeka, KS 66614 J(231 Connie 2004 Iowa City IHA LP 319 E. Washington St, Ste 111 Iowa City Villa 861, 901. 923. 945, 1001, 1015, 1037 PO Box 1226 9147 Garden Apts Cross Park Ave Iowa City Johnson 52244 New 8 48 48 Robert Bums Iowa City, lA 52244 319-338-7600 Connie 2002 The Citizon Building LP 319 E. Washington St., Ste 111 PO Box 1226 93-33 Citizen Building Apts. 319 E. Washington St. lava City Johnson 52240 Acq#Rohab 1 18 18 Robert Bums Iowa City, IA 52244 319-338-7600 Connie 2004 North Lierty IHA LP 319 E. Washington St, Ste 111 PO Box 1226 9541 North Front Park Apts. 705, 725, 745, 755 N From Street North Liberty Johnson 52317 New 4 24 24 Robert Bums Iowa City, IA 52244 319-338-760C Connie 2002 Liberty Oaks LP 319 E. Washington SL, Ste 111 Penn Oaks 10-1 & 10-12,20-1 & 20-12, 60-1 & PO Box 1226 97-51 Condo niniums 60-12 Penn Oaks Dr. North Liberty Johnson 52317 New 3 1 36 1 36 Robert Bums Iowa City, IA 52244 319338-7600 Connie 2002 Iowa City IHA Sr. Housing LP JRobertBums 319 E. Washington SL, Ste 111 PO Box 1226 98-28 Concord Apartments 1259 Shannon Drive Iowa Cily Johnson 52246 New 1 30 30 Iowa City, IA 52244 319-338-7600 Connie 20D4 Riverview Place Partners LP Regency Heights Sr. Lawrence 1623 Famam St., Ste 830 98-60 Residence 1010 Scott Pak Drive kw i aty Johnson 52240 New 1 36 36 Mazzola Omaha, NE 68102 402-341.088E Connie 2004 LeAnglon Place LP 1 319 E. Washington St, Ste 111 PO Box 1226 00-22 Lexington Place 1229 Shannon Drive Iowa City Johnson 522 New 1 30 30 Robert Bums Iowa City, IA 52244 319M&7600 Connie 2003 Riverview Place Partners II LP Regency Heights 11 Sr Lawrence 1623 Famam St, Ste 830 00-25 Residence 1060 Scot Park Drive Iowa City Johnson 52240 New 1 37 37 10=01ta Omaha, NE 68102 1 402-341-08881 Connie 2003 4/2ea004 11 Iowa Finance Authority Funded LIHTC Projects (bv oounty) Emerson Point LP 319 E. Washington St., Ste, 111 02-11 Emerson Point 1355 Shannon Drive Iowa City Johnson 5224E New 1 54 54 Robert Bums PO Box 1226 Iowa City, IA 52244-1226 319-338-760 Connie Savannah'Allege LP 319 E. Washington St, Ste 111 M-45 Savannah Village Jefferson Street North Liberty Johnson 52317 New 8 28 28 Robert Bums PO Box 1226 loves City, IA 52244-1226 318-338-7600 Connie 93-01 Eastland Park Sr Apts 206 S. rim Drive Algona Kossuth 50511 New 1 24 24 Dean Doyscher Eastland Park Sr. Apts. LP 360 Pierce Avenue, Ste 209 North Mankato, MN 56003 507-345-129( Julie 2004 Montrose Sr. Apts. LP 9050 Montrose Sr Apts 900. 902. 9D4, 906 Spruce Montrose Lee 526391 New 4 16 1 16 J.V. Norton PO Box 67 - Route K North LaBelle, MO 63447 660-213,32W Pete 2004 Twin Oaks Manor LP 1 98-11 Twin Oaks Manor 504 Second Strout Bldg A-D Denmark Lee 52624 New 4 16 16 Dean Blanchard 1300 265th Ave. West Point, IA 52656 319-528.4536 Pete 2004 FL Madison INA Sr. Housing LP 319 E. Washington St., Ste 111 98-30 Eagle Bluff Apts Phase I 2803 A Avenue Ft. Madison Lee 52627 New 1 24 24 Robert Bums PO Box 1226 laws City, IA 52244 319J38-7600 Pete 2004 FL Madison IHA Sr. Housing LP 319 E. Washington St, Ste 111 98-78 Eagle Bluff Apts Phase 11 2803 A Avenue Ft. Madison Lee 5262A New 1 1 24 1 24 Robert Bums PO Box 1226 Iowa City, IA 52244 31"38-7600 Pete 2004 Keokuk Sr. Haring LP 319 E. Washington SL, Ste 111 00-24 Deer Meadav 715 Cleveland Avenue Keokuk Lee 52632 New 1 24 24 Robert Bums PO Box 1226 Iowa City, IA 62244 319-338-760C Pete 2003 Lincoln Ridge LP 01-23 Lincoln Ridge Apts. 12815 Lincoln Ave. Keokuk It. 52632 New 2 16 16 Jim Posz 933 Avenue H FL Madison, IA 62625-0190 319-3725681 Pete 2004 07, 6811-12, 6733-37, 675557, 6745, 6749-51, 6761-63 C Ave NE 89-01 Country Hill l Apts 45557, 461-63, 487-491, 467-69, 473- 75, 501-03, 507-09, 511-13. 535, 527- 37. 543-45, 547-49 Boyson Rd NE Cedar Rapids Linn 52402 New 27 166 i66 Bruo9 Chnstenson Cedar Rapids Horsing Assoc. LP 2231 SW Wammaker Rd., Ste 3D0 Topeka, KS 66614 785-272-13 x230 Connie 2003 Cedar Rapids Partners LP ag.44 Alemnda Apts 4303, 4317, 4333. 4419, 4407 let Ave. Cedar Rapids Linn 52405 New 5 92 112 Dada Phillips 104 Armour Road North Kansas City, MO 64116 816-303,4501 Connt23Village, Place at Marion LP 8952" Village Place M Marion 245 Marion Blvd Marion Lim 52302 New 1 22 80 Stephen J. Yurirk 7380 Fanos Ave. S., Ste 220 Edina, MN 55435 612-926-9861 ConnDon 90-03 Don Dufoe Apts. Sunrise Court 822,826,825EasNlewDr. Center Point Linn 52213 New 4 24 24 Don Dufoe Dufoe LP620 PO Box 344 Center Point IA 52213 319-849-2150 Conn 4/26/2004 12 Iowa Finance Authority Funded LIHITC Projects (by county) Railroad St. Housing LP 722 Lim Street 92-02 Railroad Street Housing 117 Railroad Street Fairfax Linn 52228 New 1 8 8 Kenneth Selzer Fairfax, IA 62228 319-846-2529 Connie 2004 C. V. Apts. LP 11506 Nicholas, Ste 200 9242 Edgewood Apts 3430, 3404. 3320 Queen Drive Cedar Rapids Linn 52404 New 3 96 96 Don Day Omaha, NE 68154 402-493-2800 Connie 2004 Cedar Rapids Leased Housing Assoc LP 2355 Polaris Lane North, Ste 100 9349 Raintree Apls 050, 4900, 4950 16th Avenue SW Cedar Rapids Linn 52404 New 3 71 72 Harry Jambs Plymouth, MN 55447 612-354-5500 Connie 2004 Broderick Housing Assoc. LP 611.625.645, 551. 555. 575, 541, 605, Bruce 2231 SW Wanamaker Rd, Ste 300 785-272-139 94-13 Cowhy Hill If Acts. 631, 561.571, 581 Ashton Place NE Cedar Rapids ILinn 52402 New 12 92 92 Christenson Topeka, KS 66614 .230 Connie 2002 Blairs Ferry LP Mary Schoen- 3351 Square "D" Dr. SW 94-16 Agin Court 3305, 3227, 3207 Agin Court N.E. Cedar Rapids Linn 524021 New 3 24 24 Clark Cedar Rapids, IA 52404 319-365-6247 Cowie 2002 C & H Cedar Rapids Pavers LP %Related Capital Company 1410 Via June Drive South 94-10 Valley View Apts 1427.435. 505, 515 Ashton Place NE Cedar Rapids Linn 52402 New 4 95 96 1 Lori Settle Juno Beach, FL 33408 561-624-7750 Connie 2003 LP Meadow Wood 410424, 426-440, 442-458 N. 18th 100 CourtAve., Ste 212 94-32 Of Hiawatha Ave. Hiawatha Linn 52233 New 3 24 24 James L Des Moines, IA 50309 515-243-5323 Connial 2002 Village Southwest Partners LP Village Southwest 4910 Beverty Rd. 95-27 APIs. 16, 26, 76, 86 Aossay Lane SW Cedar Rapids Linn 52404 New 4 32 32 Gilbert Boxa, Jr. Cedar Rapids, IA 52404 319-365-0648 Connie 2002 OSADAILP Mary Schoen- 3351 Square"D" Dr. SW 9646 OSADA Apts 905 3rd Street S.E. Cedar Rapids Linn 52402 Acq/Rehab 1 67 67 Clark Cedar Rapids, IA 52404 3119-365-6247 Connie 2002 Lynwood Partners LP Lawrence 1623 Famam St., She 830 99-53 Lynnwood Apts 13920 Highway 151, Bldg A & B Marion Linn 523 New 2 39 42 Mamotla Omaha, NE 68102 402-341-0888 Connie 2002 Cedanvood Hills Acquisition LP Acq/ 104 Amour Rd 0043•' Cadarwood Hills 2010-2060 Glass Rd. NE Cedar Rapids Linn 52402 Rehab 6 180 180 Darla Phillips N. Kansas City, MO 64116 816-303-45M Cowie 2004 Herbst Avenue LP Mary Schoen- 3351 Square D Drive SW 02-23 William B. Quarter Place 85 Harbet Ave. Cedar Rapids Linn 1 524051 New 1 28 28 Clark Cedar Rapids, IA 52404 319-365-6247 Cowie Scott Meadows Sr. Housing LP PO Box 2068 02-25 Scott Meadows 2511 Highway 13 Marion Linn 523021 New - 1 32 32 Linda Deadnger Cedar Rapids, IA 52406 319-3 7-3169 Connie CR Partners of Cedar Rapids LLC ChapelRidge at Munier PO Box 3945 0346" IRoacl IMunlarRoad Marion Linn 52302 New 21 144 200 John Clayton Fort Smilh,AR 72913 479452-9950 Connie 4/26/2004 13 Iowa Finance Authority Funded LIHTC Projects (by county) Columbus Junction Park LP Columbus Junction 9090 Wilshire Blvd., Ste. 201 89-27 Park Apts 820 Springer Street Columbus Jet Louisa 52738 New 1 24 24 Alex Nguyen Revery Hills, CA 90211 310-278-2191 Pete 2003 Wintarset Development Co. III LP Winterset Park 1019, 1021, 1105, 1107 600 Stewart Street, Ste 1704 91-20 Apts III N. 8th Avenue Winte sat Matson 50273 New 4 24 24 John Hansman Seattle, WA 98101 206443-232C Connie 2004 Winterset IV LP 4745 North 7th Street, Ste 110 98.62 Candle Ridge Apts. 1111 N. 8th Ave. Winterset Matson 50273 New 1 24 24 William Spreitzer PWwlx, AZ 85014 602-279-9300 Connie 2004 Oskaloosa I LP One Boston Place, Ste, 2100 93-28 Meadowbrook Apts 508 & 510 S. M Street Oskaloosa Mahaska 52577 New 2 16 16 Tracy LeBranti Boston, MA 02108 617-624-8992 Pete 20D4 319 E. Washington St, Ste 111 PO Box 1226 98-29 Highland Park 1 109 18tn Avenue East Oskaloosa Mahaska 52577 New 1 24 24 Robed Bums I Iowa City, LA 52244 319-338-7600 Pere 2004 ACN Southern Hills Partners LP 7616 Hickman Road 98-39 Southern Hills Apts Ph 1 202 1 atn Avenue East Oskaloosa Mahaska 52577 New 1 30 30 Clark A. Colby Jr. Des Manes, IA 50322 515-270-1885 Pete 2004 Oskaloosa IHA Sr Housing It LP 319 E. Washington St., Ste 111 PO Box 1226 98-77 Highland Park II 10918tn Averue East Oskaloosa Ilvahaska 525771 New 1 24 24 Robed Bums Iowa City, IA 52244 319-338-7600 Pete 2004 ACN Southern Hills Partners ll, LP 7616 Hickman Road 9943 Southern Hills Apts Phase 1 202 18th Avenue East Oskaloosa Mahaska 52577 New 1 30 30 Clark Colby, Jr Des Moines, IA 50322 515-270-1885 Pete 2002 Meadow Wood Assoc. of Pella LP 100 Court Ave., Ste 212 93-50 Meadow Woad Apts 406410 E. 15th Street S. Pella Marion 50219 New 3 30 30 James Levy Des Moines, IA 50309 515-243-5a23 Pete 2004 ACN Knoxville Partners LP 1100 Main Sheet. Ste. 2700 97-10 Madison Heights Apts 1800 W. Madison St. Knoxville Marion 50138 New 1 24 24 Bab Rousey Kansas City, MO 64105 816-531-8100 Pete 2002 Pella Housing Partners LLC 1610 S. 7081, Ste 201 98-76" Shady Creek 210-212 & 220-222 East Jefferson Pella Marion 50219 New 2 24 48 Phil Perry Lincoln, NE 68506 402488-1666 Pete 2004 Knoxville INA Sr. Housing 319 E. Washington St., Ste 111 PO Box 1226 99-37 Windsor Ridge 1210 Eric Drive Knoxville Marion 5013E New 1 24 24 Robert Bums Iowa City. IA 52244 319338-7600 Pete 2002 Slate Center Park LP 600 Stewart Street Ste 1704 91-38 State Center Park Apts 609. 701, 706, 7092nd Street NW Stale Center Marshall 50257 New 4 24 24 Jahn Hausman Seattle, WA 98101 206443-2320 Connie 2DD4 Crestview Apts. LP 1 1514 16th Street 91E1 Crestview Apts 504 East Dawn Le Grand Marshall 50142 Acq/Rehab 1 8 8 Doug Downs Des Moines, IA 50314 515-202-1060 Connie 2003 4/26/2004 14 Iowa Finance Authority Funded LIHTC Projects (by county) LeGrand Village LP 1514 16th Street 92-32 Crestview II 504 8 506 E. Dawn LeGrend Marshall 50142 New 1 8 8 Doug Downs Des Moines, IA 50314 515-202-1068 Connie 2004 Crestview Housing LLC do Citizens Bank / F&M Bank Crestview Of 328 S. Saginaw Street 93-30 Marshalltown 117 N. 1st Avenue Marshalltown Marshall 50158 New 1 40 40 Robert Thomas Flirt, Ml 48502 810-766-7780. Connie 2004 HNlcrest LP %WNC 8 Associates 3158 Redhlll Avenue, Ste 120 94-15 Hltkrest Apartments 208, 216, 220 Glenda Drive Marshalltown Marshall 501681 New 3 32 32 JGreg Hand Costa Mesa, CA 92626 714-662-5565 Comte 2003 Marshalltown-Sundarrce Apts. LP Marshalltown 1100 Main Street, Ste 2700 98-25 Sundance Apts 1401 & 1407 S. 7th Avenue Marshalltown Marshall 50158 New 2 32 32 Bob Rousey Kansas City, MO 54105 016-531-8100 Conniel 2003 River Oaks IHA LP 319 E. Washington, Suite 111 S. side of Marion St. approx. 1 block E. PO Box 1226 01-22 River Oaks of North 15th Marshalltown Marshall 50158 New 6 28 28 Robert Bums Iowa City, IA 52244 319338-7600 Connie 2004 River Bloch IHA LP 319 E. Washington SL, Ste. 111 South side of Marion St. approx. 1 PO Box 1226 02-10 River Birch - ETO block East of North 15th Street Marshalltown IMarshall 50154 New 5 20 20 Robert Bums Iowa City, A 52244-1226 319-338-760C Connie Mlownl/Weskwwn LLLP 1916 KnolMrood Drive 03-25 Westown Apartments 122 West Main Street Marshalltown Marshall 50158 New 1 36 36 James Clark Marshalltown, W 50158 641-752-9501 Connie Osage IHA LP 319 E. Washington St., Ste 111 PO Box 1226 92-35 Lanlom Park Apts. 1020, 1026, 1032 Tenth St. Osage Mitchell 50461 New 3 16 16 Robert Burns Iowa City, IA 52244 319-338-7600 Julie 2004 ONI, LP 101 list Street NW John PO Box 66 9845 IStarviewApts 803. 807. 811, 8152nd Street Onawa Monona 1 510401 New 4 1 24 1 24 Gmserheider 1-ell IA 51031 888-619S003 Julie 2004 C 8 H Red Oak Partners LP 7616 Hickman Rd 9419 City View Apts 2400 N. 8th Sheet Red Oak Monlgomery 51566 New 2 48 48 Clark Colby Jr. Des Moines, W 50322 515-270-1885 Petal 2004 Sycamore Apts. LP 510 Main Street, WCU Building 94-10 Sycamore Apts. 2416. 2420. 2424 Park Ave. Muscatine Muscatine 52761 New 3 72 72 Steve Owsley Quincy, IL 62301 217-222-1707 Pete 2004 Colorado Park Assoc. LP 100 Courl Ave., Ste 212 96-56 Colorado Park Apts 401 Colorado Street, Bldg 1-3 Muscatine Muscatine 52761 New 3 32 32 James Levy Des nes, IA 50309 515-243-5623 Pete 2002 MCSA-MWA, LP 1 E:DmkeSchauland 3151owa Avenue Apts 3009, 3103. 3203 Harmony Lane Muscatine Muscatine 52761 New 3 12 12 Mike Johannsen Muscatine, IA 52761 319-264-3278 Pete 2002 4/26/2004 15 Iowa Finance Authority Funded LIHTC Projects (by county) Muscatine Housing LP 901 Tremont 99-24 Cottage Grove Apts. 1503 Houser Street Muscatine Muscatine 52761 New 13 46 48 Chris Ales Davenport, to 52803 563-323-5880 Pete 2002 North Star W-H, LP 503 E. 19th Street 9048 Village Apts 711 1st Street NE Hartley O'Brien 51346 AcWRehab 1 8 8 R.D. Bartell Spencer, IA 51301 712-262-2979 Julie 2004 260 Gray Avenue PO Box 820 95-52 Prairie Ridge Apo 1011 16th St Sheldon O'Brien 51201 New 4 24 24 Ted Oswald Waukee, IA 50263 515-689-059 Julie 2002 Hartley Housing Assoc. LP 14 W 21st Street, Ste 3 140 N. 7th Ave. E PO Box 473 98-02 Hartland Apts. 210 N. 11th Ave. E. Hartley O'Brian 51346 New 2 14 14 Doug LaBouny Spencer, IA 51301 712-262-5965 Juliel 2003 Sibley One LP 14 W 21st Street Ste 3 PO Box 473 94-63 Parkview Apts 230 1Ith Street West Sibley Osceola 51249 New 1 16 16 Doug LaBoenty Spencer, IA 51301 712-262-5965 Julie 2002 C & H Shenandoah Partners LP 7616 Hickman Road 94-17 Valley Apt$ 302 & 303 South Iowa St. Shenandoah Page 51601 New 2 48 48 Clark Colby, Jr. Des Moines, IA 50322 515-270-1885 Pate 2004 Clarinda West LP Clarinda West 4745 North 7th Street Ste 110 95-17 Apts. 940 S. 27th Street Clarinda page 1 516321 New 1 1 24 1 24 William Spreiher Phoenix, AZ 85014 602-279-9300 Patel 2002 Clarinda I LP 800 W Tarkio, Bldg A-F 4745 North 7th Street, Ste 110 97-65 Meadow Run Apts 901 W Tarklo, Bldg G-H,J, N,O Clarinda Page 51632 AcyRehah 11 46 46 William Si Phoenix, AZ 85014 602-279-9300 Pete 2002 North Star E-M LP 503 E. 19th Street 91-07 North Star Apt;. 212 & 222 N. Stale St Emmetsburg Palo Alto 505M AcyRehab 2 16 16 lelene SteBes Spencer, IA 51301 712-262-2979 Julie 2004 North Star E-M LP 503 E. 1Sun Street 92-05 North Star Apts. 210 & 214 North State St Emmetsburg Palo Alto 50536 AcyRehab 2 16 16 1R.D. Ber ill Spencer, IA 51301 712-262-2979 Julia 2004 GraetBnger Housing Assoc. LP LgLaBcunly 14 W 21at Street Ste 3 PO Box 473 95-65 North Valley Apts 602 & 604 N. Van Gordon Steel Graettlnger Palo Aito 51342 New 2 11 11 Spencer, IA 51301 712-262-5965 Julie 2002 Emmetsburg Partners LP 815 Office Park Road, Ste 10 9840 Roscommon Apts 2805 Schroeder Drive Emmetsburg Palo Alto 505361 New 1 24 24 Walter Schroeder West Des Moines, IA 50265 515-267-8845 Julie 2002 Sunrise Estates LP 101 1st Street NW John PO Box 66 93-22 Sunrise Villa Apts 1524 Sunsel Drive IlLeMars I Plymouth 51031 New 1 1 24 24 Grosenhelder LeMars, W 51031 88"19.60031 Juliel 2004 4/26/2004 16 Iowa Finance Authority Funded LIHTC Projects (by County) Highland Estates#1 LP 101 1st Street N W John PO Box 66 93-25 Highland Estates 530. 550. 570, 590 Countryside Dr. LeMars Plymouth 51031 New 4 24 24 Grosenhelder LeMars, IA 51031 888619-6003 Julie 2004 SXCIA LP 101 First Sheet NW John PO Box 66 03-11 Prime Living Apartments 108 1 at Avenue NW LeMars Plymouth 51031 New 1 24 24 Gmsenheider LeMars, LA 51031 8886196003 Julie Union Place LP 2530 73rd Street 89-09 jUnion Place Apts 5201 South Union Des Moines Polk 1 503151 New 1 1 24 1 24 Richard D. Mcftj Urbandale, iA 50322 515-270-1497 Glendal 2003 5280-82-84, 5291-93-95, 5281-83.85, 5271-73-75, 5270-72 Dakota Dr 5240-42, 523032-34. 5231-33. 5241- West Des Moines Housing Assoc. LP 43, 5251-53, 526163, 5271-73, 5223- Bmoe 2231 SW Wanamaker Rd., Ste 300 785-272-139 89-12 Summerwood Apts 125 Boulder Dr West Des Manes Polk 50265 New 13 86 86 Christenson Topeka, KS 66614 x230 Glenda 2003 Appleweod Partners LP Ashbrooke Apts 301, 305, 309, 313, 317, 321, 351, 353. 104 Amour Road 89-13 Phase 1 355, 357 NE Delaware Ave Ankeny Palk 50021 New 10 112 112 Dada Phillips North Kansas City, MO 64116 816-3034500 Glenda 2003 Michael & Evie Barnes %Conlin Proper8es 319 7th St., Ste. 500 89-20 1211 E. 36th Loud 1211 E. 36th Court Des Moines Palk 1 50327 1 AcglRehab 1 1 1 Kristin Saddods lDes Moines, IA 60309 515-2466016 Glendal 2003 KEG Equity Group LLC 5345 SE 5th Street 2801 Alaskan Way, Ste. 107 89-33 Kemvood Apts 530 E. Kenyon Des Moines Polk 50315 New 2 60 60 Chad Fakbum Seatde, WA 98121 206-374-0414 Glenda 2003 KEG Equity Group LLC 2801 Alaskan Way, Ste. 107 90.13 Rosewood Apts 221 S.E. McKinley Des Moines Polk 50316 New 2 48 48 Chad Fakbum Seattle, WA 98121 206374-0414 Glenda 2004 Grimes Park 1, LP 9090 Wilshire Blvd., Ste. 201 90-37 Grimes Park Apts.1 240 James Sheet Grimes Polk 50111 New 2 16 16 Alex Nguyen Bawdy Hills, CA 90211 310-278-2191 Glenda 2004 C. K. & H. Real Estate Parnneship Twyla 6630 Indianola Avenue 90-55 18 & 20 BE Kenyon 18 & 20 S.E. Kenyon Des Moines Polk I 5o3151 New 7 1 2 1 2 McDonough I Des Moines, IA 50320 515-2B4-M5 Glendal 21304 C. K. & H. Real Estate Partnership Twyla 6630 Indianola Avenue 90-56 12 & 14 5E Kenyon 112 & 14 S.E. Kenyon Des Moines Polk 50315 New 1 2 2 McDonough Des Moines, IA 50320 515-284-0935 Glenda 2004 C. K & H. Real Estate Partnership Twyla 6630 Indianola Avenue 90-57 201 SE Livingston 201 S.E. Livingston Des Moines Polk 50315 AoglRehab 1 1 1 McDonough Des Moines, IA 50320 516-284-M5 Glenda 2004 R & T Properties 1513 E. Des Thomas J. 9104 Boston Avenue 90-58 Moines Street 1513 E. Des Moines Street Des Moines Polk 50316 Acg/Rehab 1 3 3 Ackemnan Urbandale, IA 50322 515- 78-2383 Glenda 2004 Stewart Park Assoc. LP 100 Court Ave., Ste. 212 9062 Stewart Park Apts 1401 Capitol Avenue IDes Moines IPolk 1 503161 New 1 1 1 18 1 18 IJames Levy IDes Moines, IA 50309 1 515-243-58231 Glendal 2004 412612D04 17 Iowa Finance Authority Funded LIHTC Projects (by county) Ankeny Partners LP Ashbrooke Apia 401, 501, 505, 509, 513, 517 NE 1 104 Armour Road 91-23 Phase II Delaware Ankeny Polk 50021 New 6 52 62 Dada Phillips North Kansas City, MO 64116 816-303-4500 Glenda 2004 Candkaidge Apts. Of Runnette LP Candlendge Apis PO Box 7747 91-26 of Rumells 606, 610, 612, 614 Brown Street Runnette Polk 50237 Nev, 4 15 15 Mark Peihman Urbandale, IA 50322 515-270-8247 Glenda 2004 James D. & Joanne Elmer PO Box 7043 91-29 The Quads Apts 5201, 5203, 5207, 5209 SE 5th St Des Moines Polk 50315 Nev, 2 4 4 James D. Elmer Des Moines, IA 50309 515360-0544 Glenda 2004 C. K. & H. Real Estate Twyla 6630 In6zrrola Avenue 91-33 LIH Duplex A3 601-603 S.E. Granger Des Moines Polk 50315 AcgrRahab 1 1 2 1 2 McDonough 10m Moines, IA 50320 515-284-09351 Gkmdal 2004 603-Ml l Allison 61h and Hickman Apts. LP 2005-09-15 An Ave Denise R. PO Box 4843 9141 6m & Hickman Apts 2010 Sin Ave Des Moines Polk 50314 1 AaltRehab 7 46 47 Aikodegie Des Moines, lA 50306 515-283-0818 Glenda 2004 Nod Park Place LP 1322-24, 1326-28, 1330-32 81h St; 921 68i Avenue, Ste B 9142 North Park Place 1315-17, 1319-21, 1323-25 911h St Des Haines Polk 50314 New 6 12 12 Stella Neill Des Moines, IA 50309 515-244-8308 Glenda 2004 Fort South II LP 319 78i St., St& 500 91-64 Fart South II Apts 6500 SW 9N Street Des Moines Polk 50315 Nev, 1 24 24 Kristin Saddens Des Moines, IA 50309 515-246-8016 Glenda 2004 13th and Forest Housing 1 LP 13N & Forest Single 1312, 1326, 1333 1381 St 921 6th Avenue, Ste 8 92-17 Family Housing 1 1311-1317-2529 13m PI Des Moines Polk 50314 New 10 10 t0 Stella Neill Des Moines, IA 50309 515-244-8308 Glendal 2004 Grimes Park II LP 600 Slewart Street, Ste 1704 92-21 Grimes Park Apts 11 155 S. Maplewood Dmre, Bldg A-D Grimes Polk 60111 1 Nev, 4 24 24 John Hansman ISeatUe.WA 98101 206-043-2320 Glenda 2004 Mlcrellvie Park LP 600 Stewart Street, Ste 1704 92-23 Mitchellville Park Apt&. 401, 403, 405. 407 Center Ave. S. Mitchellville Polk 50169 New 4 1 24 24 John Hansman Seatle, WA 98101 206443-2320 Glenda 2004 Des Moines Leased Housing Assoc.11 LP 1632, 1636. 1640, 1644, 1648 E. Hull 2355 Polaris Lane North, Ste 100 9231 Fenway Manor Ave. Des Moines Polk 50313 New 5 120 120 Harty Jambs Plyrtwulh, MN 55447 612-354-55DO Glenda 2004 Stewart Park Townhouses LP Stewart Park 404, 407, 409, 411, 413, 415 E 14th CL 100 Court Ave., Ste 212 92-38 Townhouses 1430, 1432, 1434, 1436 Capitol Ave. Des Moines Palk 503161 New 2 10 10 James Levy Des Moines, IA 50309 515-243-5823 Glenda 2004 Candleridge Apts of Bondumnt LP Candleridge Apts PO Box 7747 92-41 of Bmdurent 515 Brick Street SE Bondurant Palk 50035 New 6 23 1 23 Mark Peilzman Urbandale, A 50322 515-270-8247 Glenda 2004 Des Moines Leased Housing Assoc. III LP 2355 Polaris Lane North, Ste 100 93-03 ISouthridge Apts 11264 & 1268 Cummins Road Des in Moes IPD1k 50320 New 2 60 60 lHarryJambs Plymouth, MN 55447 612354-5500 Glenda 2004 4/26/2004 18 Iowa Finance Authority Funded LIHTC Projects (by county) Des Moines Leased Housing Assoc. IV LP 2201 & 2211 E. Park Ave 2355 Polaris Lane North, Ste 100 93-04 Lancesler Place Apts 3221 SE 22nd St Des Moines Polk 50320 New 3 72 72 Harty Jambs Plymouth, MN 55447 612-354-5500 Glenda 2004 Cummins LP 6515 Grand Teton Plaza, Ste. 220 93-05 Cummins Village 1100 Cummins Road Des Moines Polk 50315 New 1 56 56 Dwight Zeek Madison, WI 53719 608333-8788 Glenda 2004 Ankeny Housing Assoc. Two LP Delaware 903-07, 1001-05,1017-19, 919, 921 SE Bocce 2231 SW Wanamakw Rd., Ste 300 785-272-139 93-08 Village Apts ll Delaware Ave. Ankeny Polk 50021 New 10 76 76 Chdslenson Topeka,KS 66614 X230 Glendal 2004 Ankeny Housing Assm. Two LP 1057-61, 923-25, 937-39, 1043-45, Bruce 2231 SW Wanamaker Rd., Ste 300 785-272-139 93-10 Delaware Crossing 1031 SE Delaware Ankeny Polk 50021 New 10 76 76 Christenson Topeka, KS 66614 x230 Glenda 2004 13th and Forest Housing II 13th & Forest 1316, 1322, 1336 13th St 921 6th Avenue, Ste B 93-16 Housing II 1335 & 1337 13th PI. Des Moines Polk 50314 New 5 5 5 Stella Neill Des Moines, IA 50309 515-244-8308 Glenda 2004 Cottages of Pleasant Hill LP Cottages Of 5160. 5170, 6180. 5190 Cottage Dr 4009 Columbus Road SW, Bldg. F 93-17 Pleasant Hill 556 N. Walnut Pleasant Hill Polk 50327 New 5 60 60 Soot Hurley Gramille, ON 43023 740-587-4150 Glenda 2004 Altoona I LP 260 Gray Avenue PO Box 820 93-27 Cloveddge Apts 858 8tn Street SE Altoona Polk 500091 New 1 1 24 1 24 JTed Oswald Waukee, IA 50263 515-689-8592 Glenda 20P1 Soulhbrook Green Apts. Ltd. Southbrock 319 7th St., Ste 500 93-32 Green APIs 1512 & 1516 SE Evergreen Ave. Des Moines Polk 50320 New 2 26 26 Kristin Saddor's Des Moines, IA 50309 515-246-8016 Glenda 2004 Des Moines Street Assoc. LP Des Maims 1415, 1423-25.27-29, 1431-33. 1441 100 Court Avenue, Ste 212 9337 Street Village Des Molnas St. Des Moines Polk 50316 New 3 42 42 James Levy Des Moines, IA 50309 515243-5823 Glenda 2004 The Homestead l LP Homestead Living 699 Walnut, Ste 2000 9351 & Learning Ctr. For Adults 8272 NE 121h Ave. Runnells Polk 50237 New 6 6 6 Uncle Olson Des Moines, IA 50309 515-362-3603 Glenda 2004 Arlington Heights LP Denise R. PO Box 4843 9352 Arlington Heights 1805. 1807 & 1809 Arlington Des Moines Polk 503141 Rehab 3 1 36 1 36 Alkoriegie Des Moines, IA 50306 515283-0818 Glenda 2004 Des Moines Leased Housing Assoc. I LP 3600, 3602, 3604, 3606 E. Douglas 2355 Polaris Lane North, Ste 100 93-55 Sargent Park Apts. Ave. Des Moines Polk 50327 New 4 96 96 Harry Jambs Plymouth, MN 55447 612-354-5500 Glenda 2004 Southbrook Green Apls. II LP oc Southbrk 1 319 7th St., le500 93-56 Green Apts II 1516 Evergreen Ave, Bldg B & C Des Moines PoIk 503M New 2 36 36 Kristin Saddonis Des Moines, IA 50309 515-246-8016 GIeMa 2004 4/2612004 19 Iowa Finance Authority Funded LIHTC Projects (by county) Centenlal Place LP #1 1 %lard's Homes 3301 1061h Circle 94-12 Centennial Place 1 720, 722, 724, 726 Bth Street SE Altoona Polk 50009 New 4 96 96 Gerald Grubb Urbandale, IA 50322 515-278-5992 Glenda 2002 Tenth & Cherry Assoc. LP 699 Walnut, Ste 2000 94-36 Tenth And Cherry Apts. 1001 Cherry Street Des Moines Polk 50309 New 1 54 54 Linda Olson Des Moines, IA 50309 515-362-3603 Glenda 2002 Douglas Woods LP 2800-02, 2810. 2814 Douglas 319 7th St, Ste 500 94-52 Douglas Woods Apts 2801 Euclid Des Moines Polk 50310 New 4 56 56 Malin Saddods Des Moines, IA 50309 515-246-8016 Glenda 2002 addl Centenial Place LP#1 Centennial Place credit 10430 New York Avenue 95-03- Phase 11 720, 722, 724, 726 8th Street SE Altoona Polk 50009 New 94-12 Gerald Grubb Urbandale, lA 50322 515-278-5992 MdLity Duplexes LP 1406-1408 & 1156-1158 10th 921 6th Avenue, Ste B 95-38 Mid -City Duplexes 1430-1432 & 1169-1173 11th Des Moines Polk 50314 New 4 10 10 Stella Neill Des Moines, IA 50309 515-244-8308 Glenda 2002 1601-03, 1607-09, 1615-17, 1618-20, 1624-25, 1630-32, 1636J8, 1549-51, 1621-23 E. Pleasantmew or Pleasantview LP 3010-2. 3013-15, 3014-16, 3017-19, 319711, St., Ste 500 95-39 Pleasantview Tovmhornes 3018-20, 3101-03 SE 17th Des Moines Polk 50320 New 15 30 30 Kristin Saddens Des Moines, IA 50309 515-246-8016 Glenda 2002 Altoona Meadews I LP 699 Watrwt Street, Ste 2000 95-41 Oakland Pointe Apts. 623 & 627 171h Avenue NW Alloona Polk 50009 New 2 89 90 Linda Olson Des Moines, IA 50309 515-362-3603 Glendal 2002 Pdtoona Meadows I LP 699 Walnut Street, Ste 2000 95-42 Oakland Pointe Aide. 619 1711h Ave NW Altoona IPolk 50009 1 New 1 1 40 1 42 Linda Olson Des Moines, IA 50309 515-362-3603 Glenda 2002 Bloansbury Assoc. LP New & 100 Court Ave., Ste 212 95-63 Bloomsbury 1440 & 1450 East Grand Ave Des Moines Polk 50316 Acq/Rehab 2 30 30 James Levy Des Moines, IA 50309 515-243-5823 Glenda 2002 61h Avenue Investors LP 699 Walnut, Ste 2000 96-18 Maine Apts 1635 Sixth Avenue Des Moines Polk 50314 Acq/Rehob 1 18 18 Linda Olson Des Moines, IA 50309 515-362-3603 Glenda 2002 addl Tenth & Cherry Assoc. LC aed8 699 Wa1nA Ste 2000 96-19' Tenth & Ctreny APts 1001 Cherry Street Des Moines Polk 50309 Acq[Ret 94-36 Linda Olson Des Moines, IA 50309 515-362-360 86th Street Partnership 699 Walnut Street, Ste 2000 96-20•• Cross Creek Apts 8704 & 8724 Meredith Drive jUrbandale Polk 1 503221 New 2 120 120 Linda Olson Des Moires, IA 50309 515-362-3603 Glenda 2002 13th and Forest Housing III LP 13th & Forest 1312, 1314, 1318. 1324, 1328, 1332 921 611h Avenue, Ste B 96-24 Phase III 13th Place Des Moines Polk 50314 New 6 6 6 Stella Neill Des Manes, IA 50309 515-2448308 Glenda 2002 4/26/2004 20 Iowa Finance Authority Funded LIHTC Projects (by county) 1318 10m Mid -City Duplexes LP Mid City Duplexes 1240 12th 921 61h Avenue, Ste B 96-45 Phase II 1241 13th Des Moines Polk 50314 New 4 10 10 Stella Neill Des Manes, IA 50309 515-244-8308 Glenda 2002 C 8 H Des Moines Panders LP 2045 Grand Ave. 96-51 South Glen Apts 315 SE Wgnley Des Moines Polk 50315 New 1 24 24 John Grandquist West Des Molnes, IA 50265 515-247-0507 Glenda 2003 Grimes Investors LP 699 Walnut, Ste 2000 97-38 Oak Crossing 310 8 360 Gateway Dave Grimes Polk 50111 New 2 59 60 Linda Olson Des Moines, IA 50309 515362-3W3 Glenda Was 1017 Forest Ave MI Duplexes LP MidCity Duplexes 1303 13th St 921 Sixth Ave., Ste. B 97-45 Phase III 1231,1234,1322121h Des Moines Polk 50314 New 5 8 8 Stella Neill JDes Mares, Va 50309-1200 515-244-8308 Glenda 2002 Venbury Apts. LP 319 7th St., Ste 500 9748 Venbury Trail Apts 900, 904. 908. 912 8th Street SW Altoona Polk 50009 New 4 96 96 Kristin Saddons Des Moines, IA 50309 515-246-8016 Glenda 2002 Southbrook Green Apts. II LP Southbrook Green 319781 St., Ste 5W 9852 II Apts. 1514 SE Evergreen Ave., Bldg A-B Des Moines Polk 50320 New 2 36 36 Kristin Saddons Des Moirres, IA 50309 515-246-8016 Glenda 2003 Kromer Flats LP 921 Sixth Aveue, Ste B 99-29 Kremer Flats 1433-1439 Sixth Avenue Des Moines Polk 5031 Acq/Rehab 1 8 8 Stella Neill Des Moires, Va 50309 515-244-8308 Glenda 2002 River Valley Estates LP 6001 SW Creston Ave, Bldg. A-D 319 7th St., Ste 500 99-59 Deer Ridge Apts 1 6021-6023 Creston Ave Des Moines Polk 50321 New 1 5 91 92 1 Kristin Saddoris IDes Moirres, IA 50309 515-246-0016 Glenda 2002 Vine Street LP 1525 South 4th Street A200 01-02 Vine Street Lofts SW First Street 8 Vine Street Des Moines Polk 50309 New 1 44 110 George Sherman Minneapolis, MN 55454 612-332-30DO Glenda DSMIA LP 5325 Bur Oak Drive 01-25 Lyn Crossing Apts. 2000 Meadow Chase Lane Des Moines Polk 50320 New 9 45 50 Charles Day Johnston, IA 50131 515-276-7293 Glenda 2004 Parkside East LP 319 71h Street Ste 500 01-33 Parkside East Apts. 3610-12-14 East Douglas Ave. Des Moines 1Polk 50327 New 3 42 43 Kristin Saddons Des Mares, IA 50309 515-246-8016 Glenda 2003 1233 7th SL 1243-45 7th St. 1305-07 6th Ave. 1303 58r Ave. 1319 6th Ave. 1443 61h Ave. 1300 5th Ave. Riverbend Duplexes LP 1316 6th Ave. New/Acq 921 6th Avenue, Ste B 01-37 Riverbend Duplexes 1629 Oakland Des Molnes Polk 50314 Rehab 9 15 15 Stella Neill Des Manes, IA 515-244-8308 Glenda 2004 Parkside East 11 LP 319 7th Street Ste 500 02-M I Parkside East Apts. 13640 E. Douglas Avenue I Polk 1 5032 New 1 1 1 18 1 18 lKdsbnSaddons IDes Manes, IA 50309 515-246-801 Glenda 2004 4/2612004 21 Iowa Finance Authority Funded LIHTC Projects (by county) Raccoon Valley Estates LP 319 71h St, Ste. 500 02-04 Deer Ridge 11 6007 SW Creston Ave. Des Moines Polk 50321 New 2 25 25 Kristin Saddons Des Moines, IA 50309 515-246-8016 Glenda 2004 Woodland Ave. Partners LP 69618th St 02-19 Woodland Ave. Brickslone R15th Street and Woodland Ave. Des Moines Polk 503M New 3 16 54 Jack Hatch Des Moines, A 50314 515-244-2941 Glenda 1 at St., NW PO John Box 66 02-28 Hickory Grove Apts. 4110 E. 42nd St., Bldg. A Des Manes Polk 50327 Nam 1 38 40 Gmsenheider LeMars, IA 51031 888-019-0003 Glenda 2004 101 1st St., NW John PO Box 66 02-29 Maple Lane Apts. 4041 Fredrick Hubbell Ave. Des Moines Polk 1 503271 New 2 1 26 1 28 Gmsonheider ILeMars, IA 51031 88MIS-60031 Glendal 2004 Briaben Johnston Canons LP The Gables at Johnston SW comer of NW 70th St. and Made 7800 E. Kemper Rd. 02-30" Common Hay Road Johnston Polk - 50131 New 26 206 206 Don Paxton Cincinnati, OH 45249 513489-1990 Glenda Raccoon Valley Estates LP 319 7111h St., Ste. 500 03-01 Deer Rl III Apts 6009 SW Creston Avenue, Bldg B Des Moines Polk 50321 New 1 24 24 Kristin Saddoris Des Manes, IA 50309 515-246-0016 Glenda Parkside East LP 319 71h Street, Ste 500 03-02 Padcside East III Apts. 3560 E. Douglas Ave, Bldg D & E Des Moines Polk 50317 New 2 54 54 Kristin Saddohs Des Manes, IA 50309 515-246-8016 Glenda DM/Meadows LLLP 12289 Stretford Drive 03-24 1TheMeadms 2000 Meadow Spine Des Moines Polk 50320 New 7 1 48 1 48 Roger Langpaul Clive, lA 50325 515-223-03001 Glenda Bluffs Towers Ltd. PO Box 989 88-24 Bi Towers APIs 32 Pead Street Council Bluffs Potlawa8amie 515031 Rehab 1 70 70 Christie Johnson Council Bluffs, IA 61502 712-328-2222 Pelel 2003 Action, Inc. 11441 W. Maple Rd. #1 PO Box 642268 88-29 28-32 Glenview Dr 2832 Glenview Ehim Council Bluffs Pottawattamie 51501 New 1 2 2 Philip Buttner Omaha, NE 68144 402-334-1096 Pete 2003 11441 W. Maple Rd. ll PO Box 642268 Omaha, NE 68144 88-30 Buttner & Patton Duplex 36-40 Glenview Dme Council Bluffs Pottawatfamie 51501 New 1 2 2 Philip Buttner 402334-1096 Pete 2003 Theodore A. 19655 Deer Run Lane 8836 27-31 Glenview Dr 2731 Glenview Grim Council Bluffs Pottawabarrde 51501 New 1 2 2 Hams Council Skiffs, IA 51503 712-366-5446 Patel 2003 PO Box 312 90<6 Kelley Arts 2815 & 281912th Street Council Bluffs Pottawattamie 51501 New 1 2 2 Ron Kelley Falls City, NE 68355 402-245-2239 Pete 2004 SWI, Inc. 11441 W. Maple #1 4004-06 Ave. G 99- PO Box 642268 91-53 Glenview Prgecl 103, 105-07. 109-11 Glenview Dr Council Bluffs Pottawattamie 51501 New 4 8 8 Philip Buttner Omaha, NE 68144 402-334-1096 Pete 2004 Council Bluffs Housing Assoc. LP 2065 Nash Blvd., Bldg A. C, D. FJ, L- Brace 2231 SW Wanamaker Rd., Ste 300 785-272-139 94-42 IThe Bluffs Apts IN. P, 0, 5-W lCouncil Bluffs I Pottawattamie 51501 New 1 18 1 124 1 124 lChristenson ITopelka. KS 66614 x313 Pete 20702 4/26/2004 22 Iowa Finance Authority Funded LIHTC Projects (by county) Council Bluffs Housing Assoc LP The Bluffs Apia. Bruce 2231 SW Wanamaker Rd., Ste 300 785.272-139 95-M Phase II 2065 Nash Blvd., Bldg AA-KK Council Bluffs Potlawattamie 51501 New 11 78 78 Christenson Topeka, KS 66614 x313 Pete 2002 Linden Partners LP Western Trails Lawrence 1623 Famam St., Ste 830 95-10 Apts. 3201 Renner Dr, Bldg ABC, DEF, GH Council Bluffs Potlawatlamie 61501 New 3 90 90 Mamotta Omaha, NE 68102 402-341-0888 Pete 2002 Linden Partners II LLC Western Trails Lawrence 1623 Famam St., Ste 830 9733 Il Apts 3201 Renner Drive Council Bluffs Podawathmm 51501 New 1 30 30 Ma oflm Omaha, NE 68102 402341-0888 Pete 20U3 PaMnld Housing Group LP 4009 Columbus Rd SW, Bldg. F 97-40 Parkwild I Apts. 700 Parkwild Drive Council Bluffs Podawadamie 51501 New 2 48 48 Sced Hurley Granville, OH 43023 740-6874150 Pete 2003 Oakland l LP 4745 Nod 7th Street, Ste 110 97-64 Oakland Apts 405 S. Chautauqua, Bldg A & B Oakland Poltawadamie 515W AcyRehab 2 12 12 William Spreitzer Phoenix, AZ 85014 602-279-9300 Pete 2002 901 N. 35M Street LP 514 Walker Street 97-68" Featherstone Apartments 901 N. 35M St. Bldgs AS Council Bluffs Podawatbmie 51501 AcglRehab 19 147 147 Tammy Barrett Woodbine, IOA 51579 402-345-NNI Pete 20g3 Parkwild Housing Group II LP 4009 Columbus Rd SW, Bldg. F 98-07 Parkwikl II 649 Parkwild Drive, Bldg C 8 D Council Bluffs Podawadamde 51501 New 2 1 48 1 48 Scott Hurley lGramille.0H 43023 740-5874150 Pete 2003 405 Weal Broadway LLC 514 Walker Street 00.09 Bennett Building 405 West Broadway Council Bluffs Podawattamie 615M Rehab Ordy 1 30 30 Tammy Barred Woodbine, IA 51579 402-345-8000 Pete 2002 Marcy Housing kvwa II 2319, 2323, 2327, 2331 Sherwood 7262 Mercy Road, Ste 102 00-37 Sherwood Place Drive Council Bluffs Podawattamie 51503 New 4 32 32 Tom Rice Omaha, NE 68124 402-398-6614 Pete 2003 Thombury Way LP 14 West 21s1 St. PO Box 473 02-14 Ttlombury Way 1800 Nash Blvd. Council Bluffs Podawadamie 51602 New 5 30 30 Doug LaBounty Spencer, IA 51301 712-262-596 Peel CR Partners of Council Bluffs LP ChapelRidge of Council PO Box 3945 03-47' Bluth 2729 W. South Omaha Bridge Road Council Bluffs Podawadamie 51501 New 22 112 160 John Clayton Fort Smith, AR 72913 479-452-9950 Pete Grinnell Park Apts. LP 9090 Wilshire Blvd., Ste. 201 89-26 Grinnell Paris Apts 233 Fouts Avenue West Grinnell Poweshiek 50112 New 1 24 24 Alex Nguyen Beverly Hills, CA 90211 310-278-2191 Pete 2003 Grinnell Estates LP PO Box 7688 92-10 Grinnell Estates 2020 West Street Grinnell Poweshiek 50112 New 1 24 24 Kimberly Neely Columbia, MO 65205 573-043-2021 Pete 2004 Grinnell Housing Partners LLC 1610 S. 70th, Ste 201 98-73" Westfield Aparirnems 304-06 8 308-10 4th Avenue West Grinnell Poweshiek 50112 New 2 24 48 Phil Perry Lincoln, NE 68506 402-488-16661 Petal 2004 4/26/2004 23 Iowa Finance Authority Funded LIHTC Projects (by county) Arbor Partners LP Lawrence 1623 Famam St., Ste 830 99-57 The Arbors 401 8 417 Washington Street Cxinnell Poweshiek 50112 New 2 39 42 Mauotta Omaha, NE 68102 402-341-0888 Pete 2002 ' Sac City l LP 600 Stewart Street, Ste 1704 9666 Broakridge Apts 1437 .1467 Irvine Street Sac City Sac 50503 New 2 16 16 John Hansman Seattle, WA 98101 206-443-2320 Julie 2002 addl Sac City I LP Credit 600 Stewart Street, Ste 1704 98-70- Brooluidge Apts Phase II 1437 - 1467 Irvine Street Sac City Sac 50583 New 9666 John Hansman Seattle, WA 98101 206-443-232 Davenporl Housing Assoc. LP Bruce 2231 SW Wanamaker Rd., Ste 300 785-272-139 91-09 Crystal Ridge Apts 5600 Jersey Ridge Rd, Bldg A-T Davenport Scott 52807 Navy 16 100 100 Chri tensor Topeka, KS 66614 x23 Connie 2004 Davenport Housing Assoc. LP Bruce 2231 SW Wanamaker Rd., Ste 300 785-272-139 92-15 Crystal Ridge Apts 1 5600 Jersey Ridge Rd., Bldg U-W Davenport Scott 52807 New 3 18 18 Christenson Topeka, KS 66614 r23 Connie 2004 Davenport Housing Assoc. LP Bmce 2231 SW Wanamaker Rd., Ste 300 785-272-139 92-16 Crystal Ridge Apts It 5600 Jersey Ridge Rd., Bldg N Davenport Scott 52807 New 1 8 8 Christenson Topeka, KS 66614 x231 Connie 2004 Davenport Sr. Housing LLC 1660 Embassy West Drive, Ste. 250 9663 Brookside Sr Apts. 3575 Marquette Street Davenport Scott 52806 New, 1 44 45 Cathy Koapench IDubuqm, IA 52002 563-556-1188 Connie 2002 216-222 W. 16th St EHDG LP 601627 Myrtle St. 600 Stewart Street. Ste 1704 96-70 EHDG Apartments 1025-1033 W. 7th St. Davenport Iscott 52803 Nev, 4 1 17 17 lJohn Hansmw Seattle, WA 96101 206-443-2320 Connie 2002 Cumberland House Assoc. LP Cumberland 100 Court Ave., Ste 212 98-50 House Apts. 2365 Tech Drive Bettendorf Scott 52722 Nov, 1 32 32 James L Des Moinw, IA 50309 515-243-5823 Connie 2004 Davenport Sr. Housing 11 LLC 1660 Embassy West Drive, Ste 250 9&08 Brookside Apia. 3525 Marquette Street Davenport Scott 52806 New 1 32 32 Cathy Keerpench Dubuque, a 52002 563-556-1188 Connie 2002 Meadow Crest Gardens LP 901 Tremont 00-01 Meadow Crest Gardens 2511 W. 53rd Street Davenport Iscoft 52806 New 12 48 48 Chris Ales Davenport,W 52301 563-323-5880 Connie 2003 Davenport Housing LP New and 901 Tremont 00-13 St. Katherine's 901 Tremont Davenport Scott 52801 Acq/Rehab 6 38 38 Chris Ales Davenport, IA 52803 563-323-WO Connie 2003 VFH LLLP 211 E. 37th Street 02-01 Vera French Manor 215 E. 37th Street Davenport Scott 52806,Nev, 1 10 10 Dean Drexel Davenport, IA 52806 563-445-7977 Connie 2004 4/26/2004 24 Iowa Finance Authority Funded LIHTC Projects (by county) Davenport Housing 11 LP 901 Tremont 03-09 Maryorest 1607 West 12th Street Davenport SwR 52803 AcglRehab 2 50 50 Chris Ales Davenport, IA 52803 563-3235880 Connie Cobblestone Terrace LLLP 1016 W. Sth Street 03-21 Cobblestone Terrace West 12th & Myrtle Street Davenport Scott 52802 New 5 20 20 fois Cle nents Davenport, IN 628M 563-322-3751 Connie Cobblestone Place LLLP 303 Taylor 1016 W. 5th Street 03-22 lCobblestons Place 921 West Third Davenport Scott 52802 Acq/Rehab 2 28 28 Kris Clements Davenport, LA 528M 563-322-3751 Connie Davenport Lofts LLC 427 Iowa Street 145 E. Badger Rd. Madison, 03.41 Davenport Lofts 505 lowa Street Davenport Saar[ 52801 AcyRehab 2 49 70 David Vos WI 53713 608-258-5580 Connie Orange City Plaza, LP 703-05 Iowa Ave. SW 3156 Ute 90 61 Orange City Plaza 704-06 Georgia Ave. SW Orange City Sioux 51041 New 4 32 32 Jeff Voomees Waukee, IA 50263 515-987-5592 Julie 2004 14 W 21 st Street, Ste 3 PO Box 473 98-01 Northwood Court 1071 & 1121 2nd Ave NE Sioux Center Sioux 51250 New 2 20 20 Doug LaBounty Spencer, LA 51301 712-262-5965 Julie 2003 14 W 21 at Street, Ste 3 PO Box 473 96-10 MapleaWl Apts 2117 & 2205 Central Avenue Hawamen Isioux 51023 New 1 2 16 16 Doug LaBaunty Spencer, IA 51301 712-262-5965 Julie 2003 Ames Housing Assoc. LP 2011-15-25-05-12-22, 2300-10-20.30 Bruce 2231 SW Wanamaker Rd., Ste 300 785-272-139 W18 Prairie West Apts Prairie Vavw West Dr. Ames Story 50010 New 10 68 68 Christenson Topeka, KS 66614 X230 Patel 2004 Viking Village LP %National Management 12289 Stmttord Drive W28 Viking Village Apts 910 & 920 Fairview Story City Story 50248 Nev, 2 24 24 IRm Dupuy Clive, IA 50325 515223-1113 Pete 2004 Ames Housing Assoc. LP Brace 2231 SW Wanamaker Rd., Ste 300 785-272-139 91-57 Prairie West Apts 2001 Prairie View West Ames St 50010 New 1 6 6 Christenson Topeka, KS 66614 X2 Pete 2D04 Ames LP Meadow Wood 100 Court Ave., Ste 212 94-54 Of Ames 14300 -4370 Mancopa Dr Ames story 50010 New 7 48 48 James Levy Des Moines, IA 50309 515-243-5823 Pete 2002 South Court Affordable Having LP South Court 1718 Kafth Street 95-74 Town homes 71011th Steel South, Bldg A-C Nevada S[ 50201 New 3 38 38 Jackie Hoeft Eau Claire, WI 54701 715-833-1761 Pets 2003 adds Southwurt Affordable Housing LP Southwurt credit 171 B Keith Street 96-W Townhomes 710 11th Street South, Bldg AC Nevada St 502D1 New 95-74 Jackie FioaR Eau Claire, WI 54701 715-a33-1761 4/26/2004 25 Iowa Finance Authority Funded LIHTC Projects (by county) Fore Wnrdsw Pant Apts. LP 3303 W. Saginaw Hwy, Ste. E-1 02-31^ Windsor Pointe 3709 Tripp Street Ames Story W014 New 8 145 145 s Lansing, Ml 48917 517-323-18 Pete The Rose of Ames LP 1257 2nd Street N 03-37 The Rose of Ames 1305 Coconino Ames 5 50010 New 1 56 56 LRichardlgeso Sauk Rapids, MN 56379 320-252-2528 Pete Indianhead Apts. LP 957 NW Frontage Road 90-02 Village Park Apts 201, 203, 205, 207 Prospect Drive Toledo Tama 52342 New 4 24 24 er Byron, MN 5W20 507-775-2109 Connie 2004 Tama IHA LP 319 E. Washington St., Ste 111 PO Box 1226 92-34 Lantern Park Apts. 1301. 1303. 1305 Sesame Dr. Tama Tama 52339 New 3 24 24 Robert Bums Iowa (Sty, tA 52244 319-338-7600 Cmniel 2004 Lenox Park LP 600 Stewart Street, Ste 1704 91-36 Lenox Park Apts 601 East Ohio, Bldg A-B Lenox Taylor 50851 New 2 16 16 John Hausman Seattle, WA 98101 206-443-2320 Pete 2004 Creston Park LP 402 & 404 N. Oak St 600 Stewart Street, Ste 1704 91-21 Creston Park Apts 1501 & 1503 N. Lincoln St. Creston Union 50801 New 4 24 24 Jahn Hansman Seattle, WA 98101 206-443-2320 Connie 2004 Afton Park LP 600 Stewart Street. Ste 1704 91-40 Aflon Pads Apts 910 North Clayton Street, Bldg A-B Afton Union 50830 New 2 16 16 John Hansman Seattle, WA 98101 206-443-2320 Connie 2004 Creston Plaza Apts. LP 927 NW Vesper 96-06 Creston Plaza Apts 1001 S. Sumner Creston Union 50801 New 6 24 24 D. Km Ungle Blue Springs, MO 64015-3735 816228-5109 Connie 2002 Summit House Associates LP 100 Court Avenue, Ste 212 02-20 Summit House 509 North Maple Creston Union 50801 New 1 32 32 James Levy Des Moines, IA 50309 515-243-5823 Connie 910 & 914 E. Locust Prairie Tovmhomes LP 400 Cass Street 14 W.21st Street 401 & 405 N. Jetlerson PO Box 473 03-31 Prairie Townhrmes 100 Schworm Street Ottumwa Wapellu 52501 New 4 19 19 Doug LaBounty Spencer, IA 51301 712-262-5965 Pete Oak Terrace LP 319 E. Washington St., Ste 111 PO Box 1226 03-34 Oak Terrace 4th Street and Ottumwa Street Ottumwa Wapelfo 525011 New 1 1 12 1 12 Robert Bums Ilowa City, IA 52244-1226 319338-7600 Pete Norwalk Park LP 9090 Wilshire Blvd., Ste. 201 90-29 Norwalk Park Apts 918 & 928 E. 171h Street Norwalk Warren 50211 New 4 16 16 Alex Nguyen Beverly Hills, CA 90211 310-278-2191 Connie 2004 Norwalk Park II LP 600 Stewart Skeet, Ste 1704 92-26 Norwalk Park Apts II 900 & We E. 17ti Street Norwalk Warren 50211 New 2 16 16 John Hamman Seattle, WA 98101 206-443-2320 Connie 2004 Spring Hills Apts GP 603 Greenwood Drive 90-04 Spring Hills Apts. Phase II 51514tr Street Wellman Washington 52356 New 1 4 4 Jared T. Powell Iowa City, IA 52246 319-N-8664 Pete 2004 4/26/2004 26 Iowa Finance Authority Funded LIHTC Projects (by county) IHC LP 1 14 W 21st Street, Ste 3 PO Box 473 97-16 Woodridge Apts 601 & 603 West Adana Street Washington Washington 52353 New 2 24 24 Doug LaBounty Spencer, lA 51301 712-262-5965 Pete 2003 Bankers Trust Company NA 665 Locust 94-59 Evergreen Estates 1 1531 & 1537 27th Ave N Fat Dodge Webster 50501 New 2 48 48 Dave Gregory Des Moines, IA 50309 515-245-2437 Julie 2003 Northridge Apt.. LP 825 Central Avenue PO Box 1237 95-77 lNorthridge Apts 2805 6th Avenue North Ft Dodge Webster 50501 New 1 43 44 David M. Bradley Ft Dodge, IA 50501 515-576-7531 Julie 2002 Bankers Trust Company NA 665 La st 96-17 Evergreen Estates II 1547 27th Avenue North Fat Dodge Webster 50501 New 1 30 30 Dave Gregory Des Moines, w 50309 515-245-2437 Julie 2003 MDI LP #62 Acgl 1600 University Ave W., Ste. 212 01-04 BEH Building Apartments 629 Central Avenue Fat Dodge Webster 50501 Rehab 1 33 33 Jennifer Rugani St. Paul, MN 55104-3826 651-W-7848 Julie 20D4 Northridge Apts. LP II 825 Central Avenue PO Box 1237 Fl. 02-12 iNorthridge Arts. II 525 North 28th St. Fan Dodge Webster 50501 New 1 23 23 David Bradley Dodge, IA 50501 515-576-75311 Julie 2004 Easigate Apts. LP PO Box 243 90-63 Eastgate Apts 104-06-08-09-10 S. Iowa Street Lake Mills Winnebago 50450 New 5 24 24 Allan C. Larson Belmond, W 50421 641-592-5800 Julie 2004 102, 104. 106, 108 Wnngate Dr IHC Forest City LP I 101, 103, 105, 107 Wnngate or 14 W. 21st Street, Ste 3 110, 112, 114, 118 Winngate Dr PO Box 473 9949 Wmngale Village 109, 111, 113, 115 Weslgate or Forest City Winnebago 5043E New 2 16 16 Doug LaBounty Spencer, IA 51301 712-262-5965 Julie 2002 NEICAC Sr. Housing LP 305 Montgomery St. Washington Court Annemarie PO Box 487 97-56 lApts 510 Washington Steel Decorah Winneshlek 52101 New 1 16 16 Stockman Decorah, IA 52101 563-382-8436 Juliel 2002 Woolen Mills, LP Acgl Mary Ann 305 Montgomery 01-03 Decorah Woolen Mills 301 Day Spring Lane Decorah Winneshiek 52101 Rehab 1 15 15 Humpal Decorah, IA 52101 563-382-0436 Julie 2004 Landmark Apts. LP PO Box 2238 90-53 Landmark Apts 2807. 2809, 2811 Linmin Way Sioux City Woodbury 51106 New 3 71 72 Tami Reed Sioux Falls, SD 57101 402-371-2006 Julie 2004 Woodbury A/brdable Housing I LP 43MI1 & 4329-31 N. 4009 Columbus Rd SW, Bldg. F 9449 Woodbury Heights I Apts. Fi ildcrest Drive Sioux City Woodbury 51104 New 2 48 48 Scott Hunley Granville, OH 43023 740-5874150 Jibe 2002 Prestwick Apts. Ltd. LP 412 Pavoma St. PO Box 3275 95-04" Prestwick Aparbnents 4230 Hickory Lane, Bldg 1-9 Sioux City Wocdbu 51106 New 9 41 204 Teny Bums Sioux Ciy, IA 51102 712-258-3251 Julie 2002 4126/2004 27 Iowa Finance Authority Funded LIHTC Projects (by county) Woodbury Affordable Housing II LP Woodbury 4009 Columbus Rd SW, Bldg. F 95-09 Heights Apts. 43134315.43254327 N. Fieldcrest Dr. Sioux City Woodbury 51104 New 2 48 48 Scott Hunley Granville, OH 43023 7405874150 Julie 2002 Sloubdand Housing Assoc. LP 14 W 21st Street Ste 3 Lessanidr Place PO Box 473 95-29 Apts 301 5th Street Sioux City Woodbury 51101 AcglRehab 1 41 41 Doug Lsaounty Spencer, IA 51301 712-2625965 Julie 2002 Camegle Place LP 14 W 21st Street Ste 3 PO Box 473 96-M Camegie Place Apts 1705 6th Street Sioux City Woodbury 51105 1 Acq/Rehab 1 1 20 1 20 Doug LaBounty ISPencar, IA 51301 712-2625965 Juliel 2002 Woodbury Affordable Housing III LP Woodbury Heights 4009 Columbus Rd SW, Bldg. F 96.22 Apts-Phase 111 43174319, 43214323 N. Fieldcrest Dr. Sioux City Woodbury 51104 New 2 48 48 Scott Hunley Granville, OH 43023 740-5874150 Julie 2002 Court View LP 14 W 21at Street, Ste 3 PO Box 473 97-03 Court View Apts 2200 Court Street Sioux City Woodbury 51104 New 1 24 24 Doug LaBouny Spencer, IA 51301 712-26M965 Julie 2002 Century Plaza LP 14 W 21st Street, Ste 3 PO Box 473 98-04 Century Plaza 411 Nebraska Street Sioux City Woodbury 1 51101 1 Acq/Rehab 1 1 17 1 17 Dag LaBouny, lSiperioer,IA 51301 712-262-5965 Juliel 2003 Woodbury Park LP 14 W 21st Street, Ste 3 PO Box 473 98-08 Woodbury Park Apts. 419421 and 423-429 S. Irene SI siwxcfty Woodbury 51106 New 2 6 6 Dag LaBounty Spencer, IA 51301 712-262-5985 Julie 2003 Sian City Apt Partners LLC Pinnacle Apts. 11912 Elm Street, Ste. 23 9843 of Sioux City 2610 82612 Apache Circle Sioux Chy Woodbury 51104 New 2 24 24 John Foley Omaha, NE 68144 402-963-9099 Julie 2002 Cal Terminal LP 14 W 21st Street, Ste 3 PO Box 473 99-01 Plymouth Block 1106481 Street Sioux City Woodbury 511011 AcglRehab 1 36 48 Doug LaBouny, Spencer, IA 51301 712-262-5965 Julie 20M Hickory Lane Partners LP 505 5th Street, Ste 200 99-74" Shire Apartments 14236 Hickory Lane Sioux City lWoodbury 51101 AcgiRehab 1 64 64 Lewis Weinberg Sioux City, IA 51101 605-334-5410 Julie 2003 Pierce Street Partners LP 1WOodbury 505 5th Street, Ste 200 99-75" Martin Tower 410 Pierce Street Sioux City 51101 Acq/Rehab 1 86 86 Lewis Weinberg Sioux City, IA 51101 605$345410 Julie 2003 Woodbury Ridge LP 14 W 21 at Street Ste 3 PO Box 473 00-15 Woodbury Ridge 805150th Street Moville Woodbury 50201 NOW 2 12 12 Doug LaBounty Spencer, IA 51301 712-262-5965 Julie 2003 Riverside Estates LP James C. 520 Nebraska Street, Ste 233 00-21 Riverside Estates 10288 1030 Riverside Doe Sioux City Woodbury 511 New 2 32 32 Johnsen Sioux City, lA 51101 712-252-5859, Julie 2003 4/2612004 28 § | ! & \ } 2 \ \ \ § ]§_ ! �] rk ■�� , \ ,�� , !!*�!|!,!»#!!!!»/f§/\)|& ) k{/k\|k)%)))] |a ;}!2:§!!§|! | m 0 t !k \ ) } /El ! ! !| ! ! ! ! « £ i k 11 ! 7 ! | [ ! � \I | W uJ }. !k | » \ Kf \ ! ! | §| §; 7 k �� ■ !! § e § §k § § ■! § \ � £ k — ! ; |� ! } ) | k 2 2 | I § }