HomeMy WebLinkAbout1. CasaLago_Chula Vista Affordable Housing Application-CSCDA-REV 20211202Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING SUPPLEMENTALAPPLICATION | Instructions
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
VERSION: OHG/CSCDA Resubmittal dated December 3, 2021. Original submitted 9/1/2021.
I. APPLICABILITY
The attached Application should be completed and submitted to the Development Services
Department, Housing Division for all affordable housing projects defined as having 20 percent of
the units to be restricted for lower income households or 100 percent for moderate income
households and emergency shelters.
All affordable housing development projects will be reviewed by the City’s Housing Advisory
Commission (HAC). HAC actions are advisory to the City Council and/or Housing Authority. The
City Council and/or Housing Authority are the ultimate decision authority.
The Housing Advisory Commission will review and comment on three (3) major aspects of the
project:
1. A project’s ability to effectively serve the City’s housing needs and priorities as expressed
in the Housing Element and the Consolidated Plan for Housing and Community
Development.
2. A project’s consistency with the City’s affordable housing policies as expressed in the
Housing Element, General Plan, other related documents and other applicable
State/Federal laws and programs; and
3. A project’s feasibility, with emphasis on prospective sources of subsidy, including any
proposed City financial assistance and/or incentives.
II. PROCESS
An applicant shall complete the attached Application, provide all required attachments, and submit
the completed package to the Development Services Department, Housing Division. Please note
that the applicant must submit an 8½ x 11 copy of the site development plan, elevations, and
photographs of site and adjacent properties at least seven (7) days prior to the date the project is
scheduled for review by the HAC. This Application may be considered as part of the Development
Application, if necessary for other discretionary actions.
When the Application is deemed to be complete by the Housing Division staff and any outstanding
issues have been resolved, the Affordable Housing Project will be scheduled for review by the
HAC. A staff report and recommendation will be presented to the HAC with the basic project
information submitted within the attached Application. Depending on the readiness of the project,
the initial action of the HAC may not include a recommendation to support the project with specific
types of financial assistance or incentives.
Housing Advisory Commission meetings are scheduled on a quarterly basis (July, October,
January, April) on the 4th Wednesday of the month at 4 p.m., City Hall, 276 4th Ave.,
Bldg. 100.
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING SUPPLEMENTALAPPLICATION | Instructions
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
III. COMMENTS OR QUESTIONS
If you have any comments or questions regarding the process or the Application, please contact
the Housing Division at (619) 691-5047.
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Checklist
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
APPLICATION SPECIFICATIONS
☐ All pages 8.5 x 11 inches
☐ One signed original and one electronic copy
REQUIREMENTS
All items are REQUIRED. Additional information as may be appropriate.
1. Proposal Submittal:
☐ Application (NOFA General and/or Affordable Housing)
☐ Project Proforma
☐ Evidence of Site Control – copy of fully executed purchase option or sales
contract
☐ Tenant Rent Rolls (current rent roll and rent roll at time of buyer/seller
agreement)
The Proposal and the above listed items have been reviewed for completeness. Please
note that complete applications can be processed and reviewed more efficiently. Failure to
submit all required information may result in your application not being accepted and/or may
extend the length of time needed for review.
Acknowledgement
The undersigned has read and reviewed the “Instructions” and “Checklist” under this
Affordable Housing Application.
Jon Penkower
Authorized Signature Print Name
Managing Director, CSCDA
12/3/21
Title Date
Lauren Seaver
Authorized Signature Print Name
President, Opportunity Housing Group
12/3/21
Title Date
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Checklist
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Return one original, one signed and an electronic copy of this Application to:
City of Chula Vista
DSD Housing Division
ATTN: Affordable Housing Application
276 Fourth Avenue
Chula Vista, CA 91910
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Checklist
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
2. Before Proceeding to the Housing Advisory Commission
☐ Preliminary Title Report
☐ Developer’s Board Resolution authorizing submittal of proposal and identifying
persons authorized to execute documents
☐ Developer’s Disclosure Statement (see Affordable Housing Application)
☐ Appraisal by a California‐licensed MAI appraiser (no older than three months). For
new construction projects, must determine the land‐only value. An “as‐built”
appraisal will be required prior to funding. For rehabilitation projects, must
determine both the “as‐is” and “after‐rehab” values without rent restrictions.
☐ Physical Needs Assessment (PNA) to correct health and safety issues and repair or
replacement of major building systems to extend the service life of the property
improvements for a minimum of 15 years. PNA must include replacement reserve
analysis.
☐ Rehabilitation Scope of Work and Cost Estimate.
☐ Evidence of Compliance with Previous City Loans
☐ Summary Statement of Previous Residual Receipts Payments on Previous City
Loans
☐ Tenant Characteristics Form if development is currently occupied
☐ Narrative Describing Operating Reserves and Replacement Reserves
3. Before Proceeding to Housing Authority
☐ Affirmative Fair Housing Marketing Plan
☐ Environmental Review Completed (CEQA and NEPA)
☐ HOME Program Basics – if HOME funds are used
☐ Relocation Plan and Relocation Noticing to Tenants
☐ Evidence of Compliance with Zoning – Letters from the City of Chula Vista DSD.
☐ Audited Financial Statements within the last 12 months.
☐ Service Delivery Plan (If providing units for the homeless or Special Purpose
Housing Applicants)
☐ Market Study
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Checklist
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
4. Before Proceeding to City Loan Funding
☐ ALTA Title Report
☐ Borrower Attorney’s Opinion Letter
☐ Certified Escrow Instructions
☐ Evidence of Funding Commitments – Letters to identify funder contact
information
☐ Certificates of Insurance for Property Insurance and Liability Insurance
☐ Management Plan
☐ Partnership Agreement, Articles of Incorporation, and By‐Laws
☐ Copies of Other Lenders’ Loan Documents
☐ City Attorney Approval and Loan Documents Execution
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part I
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Development Team Information
Sponsor/Owner:
Issuer- CSCDA Community Improvement Authority (affiliate JPA of
CSCDA)
Sponsor – Opportunity Housing Group
Address: CSCDA: 1700 N. Broadway Suite 405, Walnut Creek CA 94596
OHG: 550 Hartz Ave. Suite 200, Danville CA 94526
Contact Person: CSCDA; Jon Penkower (925) 476-5887 jpenkower@cscda.org
OHG: Lauren Seaver 310-699-8404 lseaver@blakegriggs.com
Telephone No.: Fax No.:
E-Mail:
Legal Status of Applicant: ☒ For Profit Corporation ☐ Nonprofit
Corporation
☐ CHDO
☐ Limited Partnership ☐ Limited Liability
Corp
☐ Sole
Proprietorship
☐ Other (Please Describe):
CSCDA is a Joint Powers
Authority. OHG is a
corporation.
Federal Tax Identification No. (Sponsor):
CSCDA Community Improvement
Authority: 85-3437273
OHG: 85-3191601
Managing Partner: See above.
Address:
Telephone No.: Fax No.:
Identify Development Team (if applicable; i.e., developer, contractor, management company, etc.): See
above and also Attachment B of applicant letter.
Developer (if different):
General Contractor: N/A
Management Company: Greystar
Tax Credit Syndicator: N/A
Credit Enhancer: N/A
Attorney: Orrick, Herrington & Sutcliffe
Other (Please Describe):
General Project Information
Ownership Name: CSCDA Community Improvement Authority
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part I
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
General Project Information
Project Name: CasaLago Eastlake Apartments
Project Address/
Site Location: CasaLago Eastlake Apartments – 2816 Cielo Circulo
Master Plan Community:
(If applicable) N/A Fax No.:
Assessor Parcel No(s): 643-780-06-00, 643-780-05-00, 643-780-04-00, 643-780-02-00
Please attach a street map that identifies the project and neighborhood boundaries.
Project Type:
☐ New Construction ☐ Acquisition & Rehab
☐ Homeownership ☐ Rehabilitation Only
☒ Other (Please Describe): Acquisition & Conversion to Workforce
Housing
☐ Rental ☐ Ownership
Project Condition:
☐ Unimproved Site ☐ Acquisition & Rehab
☒ Existing Structure Age (years): Built 2013
☐ Commercial ☐ Ownership
☐ Other (Please Describe):
Existing Uses of Property: Existing 427-unit market rate apartment project.
Status of Entitlements
and Environmental
Review.
N/A
Site Control:
☐ Deed ☒ Executed Purchase
Contract
☐ Executed Option
Date of Expiration:
Mid-December, but
can likely be extended
through January 2021
Clause to Extend
☐ Yes ☐ No
Acreage of Site: 30.2 acres Census Tract #:
Zone Designation: SPA Land Use District:
Total # of Units: 427 # of Affordable Units:
143 Low Income
142 Middle Income
143 Moderate Income
Type of Construction: ☒ Row house/Townhouse ☐ Garden Apartments
☐ Slab on Grade Frame ☐ Podium
☐ Other (Please Describe):
☒ Multi Story # of Elevators? None
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part I
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
General Project Information
Type of Units: ☐ Single Story
☐ Other (Please Describe):
Target Population: ☒ Family ☐ Elderly/Senior
☐ Disabled # %
☐ Homeless # %
☐ Other (Please Describe):
Type of Units: ☐ Rail station, rapid transit,
bus stop with service at
least every 30 mins from
7-9 am
Within Mile
☒ Full scale grocery
store/supermarket Within 2.7 Mile
☐ Convenience market Within Mile
☐ Medical clinic or hospital Within 2.7 Mile
☐ Public elementary, middle
or high school Within 3 Mile
☐ Public park Within 0.2 Mile
☐ Public library Within 2.6 Mile
☐ Other: Within Mile
For Senior or Special Needs: ☐ Other: Within Mile
Acquisition & Rehabilitation Projects
No. of Households potentially subject to
tenant relocation
0 No. of vacant units 14
Please attach the following: See Appendix.
☐
Copy of current tenant rent rolls and income levels
RENTS
CURRENT LOW MIDDLE MODERATE TOTAL
MARKET <80% AMI <100% AMI <120% AMI CSCDA
Rent/Unit 143 units 142 units 142 units RESTRICTED
Unit Type Total Units % Avg SF Income <$77,568 Income <$96,960 Income <$116,352 RENT
1‐Bed 79 18.5% 808 $2,577 $2,163 $2,173 $2,182 $2,173
2‐Bed 183 42.9% 1161 $3,219 $2,545 $2,754 $2,762 $2,687
3‐Bed 165 38.6% 1311 $3,819 $2,828 $2,989 $3,018 $3,018
TOTAL 427 100.0% 1154 $3,332 $2,586 $2,731 $2,757 $2,691
Initial Resident Rent Savings/Mo. Vs. In Place ‐$746 ‐$601 ‐$575 ‐$641
% Savings ‐22.4%‐18.0%‐17.3%‐19.2%
Initial Resident Rent Savings/Year ‐$1,279,478 ‐$1,023,555 ‐$980,054 ‐$3,283,087
Income limits shown for a family of two (one bed unit)
CSCDA Rents Post‐Closing
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part I
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
General Project Information
☐
Relocation plan
Description
Bedroom Mix Total
Units 0
Bedroom
1
Bedroom
2
Bedrooms
3
Bedrooms
4
Bedrooms
5
Bedrooms
Total DUs 0
Affordable
DUs 0
Describe any special features, amenities, services, programming or commercial facilities to be included
within the project (e.g. Internet service, afterschool programs, educational classes, pool, etc):
Project is designed for families with majority 2 and 3-bedroom units with attached garages.
Project includes robust amenity package with two resort pool/spas. Multiple newly-remodeled
clubhouses, state-of-the-art fitness center, BBQ/picnic areas, playground, package lockers and
views of Lower Otay Lake.
Please attach an 8½ x 11 copy of the site development plan, elevations, and photographs of site and
adjacent properties.
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part I
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Project Timeline
Housing Advisory Commission Date:
City Council Housing/ Authority Date:
CTCAC Application Date:
CTCAC Allocation Date:
CDLAC Application Date:
CDLAC Allocation Date:
Estimated Acquisition Date:
Estimated Permanent Loan Closing Date:
Estimated Date to Start Construction/Rehab:
Estimated Full Occupancy Date:
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part II
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Financial Assistance and Other Incentives
Listed below are the primary documents and information needed to complete the application to
provide for the financial analysis of the proposed project. It is recognized that all
documentation and information may not be available at the time of application. Information
must be submitted prior to the Housing Division’s underwriting evaluation and
recommendation of approval of any requested financing.
Requested
Assistance/Incentives: ☐ Bonds - Tax
Exempt/Taxable
☐ 4% Tax Credits ☐ 9% Tax Credits
☐ City/Hsg Authority
Financing
☐ Affordable Housing Incentives (aka Density
Bonus); Please complete the Supplemental
Application for Density Bonus & Incentives
Identify any other project conditions which may be relevant to project feasibility:
N/A. City will not issue bonds for the program. CSCDA CIA issues bonds which the City is not a
party to. See submittal and proforma for details.
BOND FINANCING (If applicable)
Use of Bond Proceeds:
☐ Construction Describe status and timing to construction financing.
☐ Permanent Financing
Has construction financing been obtained?
☐ Yes ☐ No
Name of Construction Lender:
Bond Amount $
Unrated Bond Amount $
Taxable Bond Amount $
Initial Interest Rate
☐ Fixed
☐ Variable
Term
months
Estimated Annual Debt Service
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part II
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Rating Agency
Rating
Type of Credit Enhancement
Credit Enhancement Provider:
Contact Person:
Address:
Telephone No.: Fax No.:
Preferred Investment Banking
Firm:
Contact Person:
Address:
Telephone No.: Fax No.:
Estimated Date of Closing
TAX CREDIT FINANCING (If applicable)
Tax Credit Amount anticipated:
$
Expected Date of Commitment Letter:
Partnership Agreement Executed: ☐ Yes ☐ No
Date:
Expected Internal Rate of Return for Tax Credit Syndicator: %
Price per Dollar:
Type of Tax Credit Offering:
Type of Investors: ☐ Public ☐ Private
☐ Individuals ☐ Corporations
☐ Funds/Trusts ☐ FNMA
Type of Credit Enhancement:
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part II
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
CONSTRUCTION FINANCING
Name of Lender/Source Term in
Months Interest Rate Amount of Funds
1. % $
2. % $
3. % $
4. % $
Total Funds for Construction $ 0
1. Name of Lender/Source
Address:
Contact Person:
Telephone No.: E-Mail:
Type of Financing: ☐ Committed
☐ Not Committed
2. Name of Lender/Source
Address:
Contact Person:
Telephone No.: E-Mail:
Type of Financing: ☐ Committed
☐ Not Committed
3. Name of Lender/Source
Address:
Contact Person:
Telephone No.: E-Mail:
Type of Financing: ☐ Committed
☐ Not Committed
4. Name of Lender/Source
Address:
Contact Person:
Telephone No.: E-Mail:
Type of Financing: ☐ Committed
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part II
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
☐ Not Committed
PERMANENT FINANCING
Name of Lender/Source Term in
Months Interest Rate Amount of Funds
1. % $
2. % $
3. % $
4. % $
Total Permanent Financing $ 0
Total Tax Credit Equity $
Total Sources of Project Funds $
1. Name of Lender/Source
Address:
Contact Person:
Telephone No.: E-Mail:
Type of Financing: ☐ Committed
☐ Not Committed
2. Name of Lender/Source
Address:
Contact Person:
Telephone No.: E-Mail:
Type of Financing: ☐ Committed
☐ Not Committed
3. Name of Lender/Source
Address:
Contact Person:
Telephone No.: E-Mail:
Type of Financing: ☐ Committed
☐ Not Committed
4. Name of Lender/Source
Address:
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part II
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Contact Person:
Telephone No.: E-Mail:
Type of Financing: ☐ Committed
☐ Not Committed
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department Housing Division Development Processing AFFORDABLE HOUSING APPLICATION | Part III 276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047 ☐ See Attachments for Part III. Applicants may substitute project proformas, inclusive of sources and uses, waterfall, operating expenses etc. in lieu of Part III of this Application. See submittal proforma. Unit Type No. of Units Bedrooms Per Unit Bathrooms Per Unit Sq Ft Per Unit Current Rent Monthly Net Rent Per Unit Monthly Utility Allowance Monthly Gross Rent Per Unit (g+h) Percent Median Income Yearly Gross Rent All Units (i x b) A $ $ $ $ 0 % $ 0 B $ $ $ $ 0 % $ 0 C $ $ $ $ 0 % $ 0 D $ $ $ $ 0 % $ 0 E $ $ $ $ 0 % $ 0 F $ $ $ $ 0 % $ 0 G $ $ $ $ 0 % $ 0 H $ $ $ $ 0 % $ 0 Manager's DU $ $ $ $ 0 % $ 0 Market Rate I $ $ $ $ 0 % $ 0 J $ $ $ $ 0 % $ 0 K $ $ $ $ 0 % $ 0 L $ $ $ $ 0 % $ 0 Total Rent (Year) $ 0 Other Income (Describe) $ Total Annual Income $ Total Units Total Square Feet DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department Housing Division Development Processing AFFORDABLE HOUSING APPLICATION | Part III 276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047 ☐ See Attachments for Part III. Applicants may substitute project proformas, inclusive of sources and uses, waterfall, operating expenses etc. in lieu of Part III of this Application. See submittal proforma. Unit Type No. of Units Bedrooms Per Unit Bathrooms Per Unit Sq Ft Per Unit Current Rent Monthly Net Rent Per Unit Monthly Utility Allowance Monthly Gross Rent Per Unit (g+h) Percent Median Income Yearly Gross Rent All Units (i x b) Term of Affordability (i.e., 30 yrs, Life of Project): DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part III
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Development – Operating Expense
See submittal proforma
OPERATING EXPENSE ITEM ANNUAL COST COST PER UNIT
General Administrative
Advertising & Marketing $ $
Legal/Partnership Expenses $ $
Accounting/Audits $ $
Security $ $
Property Tax $ $
Subtotal: $ $
Management – Fees $ $
Utilities
Gas & Electric $ $
Water & Sewer $ $
Trash Removal $ $
Operating
Payroll Taxes & Overhead $ $
Telephone $ $
Insurance $ $
Office Expenses $ $
All other operating $ $
Subtotal: $ $
Maintenance
Maintenance – Labor $ $
Maintenance – Supplies $ $
Repairs – Labor $ $
Repairs – Supplies $ $
Landscape & Grounds – Labor $ $
Landscape & Grounds – Supplies $ $
Pest Control $ $
Replacement Reserve $ $
Subtotal: $ $
ANNUAL OPERATING COST $ $
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department Housing Division Development Processing AFFORDABLE HOUSING APPLICATION | Part III 276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047 Development Costs- N/A DEVELOPMENT COST ITEM PERCENT AMOUNT COST PER UNIT COST PER SQ FT ELIGIBLE BASIS (Tax Credit Projects) AQUISITION Land $ $ $ $ Buildings $ $ $ $ Subtotal % $ $ $ $ SITE IMPROVEMENTS Site Improvements $ $ $ $ Land $ $ $ $ Buildings $ $ $ $ Subtotal % $ $ $ $ STRUCTURES Main Buildings $ $ $ $ Accessory Buildings $ $ $ $ Garages $ $ $ $ Subtotal % $ $ $ $ CONSTRUCTION CONTINGENCY Overhead & Fees $ $ $ $ General Requirements $ $ $ $ Builders Overhead $ $ $ $ Builders Profit $ $ $ $ Bond Premium $ $ $ $ Other Fees $ $ $ $ Architect – Design $ $ $ $ Architect- Supervision $ $ $ $ Subtotal % $ $ $ $ CHARGES & INTEREST Construction Interest Cost $ $ $ $ Real Estate Taxes $ $ $ $ DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department Housing Division Development Processing AFFORDABLE HOUSING APPLICATION | Part III 276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047 DEVELOPMENT COST ITEM PERCENT AMOUNT COST PER UNIT COST PER SQ FT ELIGIBLE BASIS (Tax Credit Projects) Insurance $ $ $ $ Mortgage Ins. Premium $ $ $ $ Mortgage Exam Fee $ $ $ $ Mortgage Inspection Fee $ $ $ $ Loan Orig. Fee –Construction $ $ $ $ Loan Orig. Fee – Permanent $ $ $ $ Title & Recording $ $ $ $ Other Charges $ $ $ $ Subtotal % $ $ $ $ LEGAL ORGANIZATION & AUDIT Legal $ $ $ $ Organization $ $ $ $ Audit $ $ $ $ Subtotal % $ $ $ $ OTHER COSTS Developer’s Fee $ $ $ $ Consultant Fee $ $ $ $ Operating Reserve $ $ $ $ Contingency $ $ $ $ Relocation Cost $ $ $ $ Marketing & Rent-Up $ $ $ $ Surveys & Soil Borings $ $ $ $ Appraisal Costs $ $ $ $ Market Study $ $ $ $ Environmental Study $ $ $ $ Permits $ $ $ $ Tcac Fees $ $ $ $ Setup & Loan Monitoring Fees $ $ $ $ DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department Housing Division Development Processing AFFORDABLE HOUSING APPLICATION | Part III 276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047 DEVELOPMENT COST ITEM PERCENT AMOUNT COST PER UNIT COST PER SQ FT ELIGIBLE BASIS (Tax Credit Projects) Other:________________ $ $ $ $ Other:________________ $ $ $ $ Other:________________ $ $ $ $ Other:________________ $ $ $ $ Subtotal % $ $ $ $ TOTAL DEVELOPMENT COST 100% $ $ $ $ DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department Housing Division Development Processing AFFORDABLE HOUSING APPLICATION | Part III 276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047 Development – Pro Forma DESCRIPTION YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 Rental Income $ $ $ $ $ $ $ $ Other Income $ $ $ $ $ $ $ $ Gross Income $ $ $ $ $ $ $ $ Vacancy $ $ $ $ $ $ $ $ Effective Gross Income $ $ $ $ $ $ $ $ Operating Expense $ $ $ $ $ $ $ $ Net Operating Income $ $ $ $ $ $ $ $ Debt Service $ $ $ $ $ $ $ $ Residual Cash $ $ $ $ $ $ $ $ Replacement Reserve $ $ $ $ $ $ $ $ Operating Reserve $ $ $ $ $ $ $ $ Debt Service Coverage $ $ $ $ $ $ $ $ Cumulative Residual $ $ $ $ $ $ $ $ DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department Housing Division Development Processing AFFORDABLE HOUSING APPLICATION | Part III 276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047 DESCRIPTION YEAR 10 YEAR 9 YEAR 11 YEAR 12 YEAR 13 YEAR 14 YEAR 15 Rental Income $ $ $ $ $ $ $ Other Income $ $ $ $ $ $ $ Gross Income $ $ $ $ $ $ $ Vacancy $ $ $ $ $ $ $ Effective Gross Income $ $ $ $ $ $ $ Operating Expense $ $ $ $ $ $ $ Net Operating Income $ $ $ $ $ $ $ Debt Service $ $ $ $ $ $ $ Residual Cash $ $ $ $ $ $ $ Replacement Reserve $ $ $ $ $ $ $ Operating Reserve $ $ $ $ $ $ $ Debt Service Coverage $ $ $ $ $ $ $ Cumulative Residual $ $ $ $ $ $ $ YEARLY INCOME & EXPENSES ASSUMED ANNUAL INCREASES Rental Income: $ Rental & Other Income: % Mortgage Amount: $ Other Income: $ Operating Expenses: % Mortgage Rate: % Operating Expenses: $ Vacancy Losses: % Mortgage Term (Years): Rental Income: $ Number of Units: DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part IV
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Required Attachments
The following items must be attached to this request:
Completed Disclosure Statement of Ownership Interests within the project (Appendix A).
Street map that identifies the project and neighborhood boundaries.
Site development plan for affordable housing units; and
Complete description of financial assistance or incentives including specific terms that are, or will
be requested from the City of Chula Vista for the project, if applicable.
Certification/Authorization
Lauren Seaver , an authorized representative of the developer, certifies that the information
contained in this application is true and correct. Authorization is provided to the City of Chula
Vista and its Housing Authority to verify information provided in this application, including but not
limited to the developer’s credit rating, status and payment history of real estate loans and
performance on contracts with third parties. The City/Authority is further authorized to use
photocopies of this authorization to obtain third party contractual and credit references and status
of the developer’s obligations. The confidentiality of the information you have furnished will be
preserved except where disclosure of this information is required by applicable law.
Signature.: Date: 12/3/2021
Printed Name: Opportunity Housing Group, Inc. by Lauren Seaver
Title: President
Address: 550 Hartz Ave. Suite 200 Danville, CA 94526
Telephone
No.: 310-699-8404 E-Mail: lseaver@blakegriggs.com
FOR DEPARTMENT USE ONLY
Date Request Received:
Staff Recommendation:
Date of Housing Advisory Commission Review:
Action on Request by Housing Advisory Commission:
Other Comments:
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part V
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Disclosure Statement
Pursuant to City Council Policy 101‐01, prior to any action on a matter that requires discretionary
action by the City Council, Planning Commission or other official legislative body of the City, a
statement of disclosure of certain ownerships, financial interests, payments, and campaign
contributions must be filed. The following information must be disclosed:
1. List the names of all persons* having a financial interest in the project that is the subject of
the application, project or contract (e.g., owner, applicant, contractor, subcontractor,
material supplier).
Opportunity Housing Group‐ Brad Griggs,
Brad Blake & Lauren Seaver
CSCDA‐ N/A Governmental Entity
Seller‐ John Hancock Life Insurance Co.
2. If any person* identified in section 1. is a corporation or partnership, list the names of all
individuals with an investment of $2000 or more in the entity.
Opportunity Housing Group‐ Brad Griggs,
Brad Blake & Lauren Seaver
3. If any person* identified in section 1. is a non‐profit organization or trust, list the names of
any person who is the director of the non‐profit organization or the names of the trustee,
beneficiary and trustor of the trust.
4. Please identify every person,* including any agents, employees, consultants, or independent
contractors, whom you have authorized to represent you before the City in this matter.
Opportunity Housing Group‐ Brad Griggs,
Brad Blake & Lauren Seaver
CSCDA‐ Jon Penkower
Ben Haddad & Craig Benedetto‐
California Strategies
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part V
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part V
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Disclosure Statement – Page 28
5. Has any person* identified in 1., 2., 3., or 4., above, or otherwise associated with this contract,
project or application, had any financial dealings with an official** of the City of Chula Vista
as it relates to this contract, project or application within the past 12 months?
☐ Yes ☒ No
If yes, briefly describe the nature of the financial interest the official** may have in this contract.
6. Has any person* anyone identified in 1., 2., 3., or 4., above, or otherwise associated with this
contract, project or application, made a campaign contribution of more than $250 within the past
twelve (12) months to an official of the City of Chula Vista?
☐ Yes ☒ No
If Yes, briefly describe the nature of the financial interest the official** may have in this
contract.
7. Has any person* identified in 1., 2., 3., or 4., above, or otherwise associated with this contract,
project or application, provided more than $440 (or an item of equivalent value) to an official** of
the City of Chula Vista in the past twelve (12) months? (This includes any payment that confers a
personal benefit on the recipient, a rebate or discount in the price of anything of value, money to
retire a legal debt, gift, loan, etc.)
☐ Yes ☒ No
If Yes, which official** and what was the nature of item provided?
8. Has any person* identified in 1., 2., 3., or 4., above, or otherwise associated with this contract,
project or application, been a source of income of $500 or more to an official** of the City of Chula
Vista in the past twelve (12) months?
☐ Yes ☒ No
If yes, which official** and the nature of the item provided?
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391
Development Services Department
Housing Division Development Processing
AFFORDABLE HOUSING APPLICATION | Part V
276 Fourth Avenue Chula Vista California 91910www.chulavistaca.gov (619) 691-5047
Disclosure Statement – Page 29
December 2, 2021
Date Signature of Contractor/Applicant
Lauren Seaver – Opportunity Housing Group
December 2, 2021
Date
Signature of Contractor/Applicant
Jon Penkower‐ CSCDA
* Person is identified as: any individual, firm, co‐partnership, joint venture, association, social club,
fraternal organization, corporation, estate, trust, receiver, syndicate, any other county, city,
municipality, district, or other political subdivision, or any other group or combination acting as a
unit.
** Official includes, but is not limited to: Mayor, Council member, Planning Commissioner, Member
of a board, commission, or committee of the City, and City employees or staff members.
*** This Disclosure Statement must be completed at the time the project application, or contract, is
submitted to City staff for processing, and updated within one week prior to consideration by the
legislative body.
DocuSign Envelope ID: 50718229-FB01-4C67-B3BE-ABBB2373C391