Xipe Totec Proposal by Gustavo De Haro

XIPE TOTEC | DEVELOPMENT PROPOSAL

xipe DEVELOPMENT PROPOSAL Boyle Heights, Los Angeles BANK OF AMERICA LOW-INCOME HOUSING CHALLENGE WINTER/SPRING 2014

XIPE TOTEC | DEVELOPMENT PROPOSAL

PROJECT DEVELOPMENT TEAM GUSTAVO DE HARO CARLOS HERNANDEZ ARA KIM RANDY MAI DENNIS MARAVILLA DAISY MIGUEL BRANDON HARPER

Master of Urban and Regional Planning Candidate 2014 Master of Urban and Regional Planning Candidate 2014 Master of Urban and Regional Planning Candidate 2014 Master of Urban and Regional Planning Candidate 2014 Master of Urban and Regional Planning Candidate 2014 Master of Urban and Regional Planning Candidate 2014 Masters of Architecture Candidate 2014

XIPE TOTEC | DEVELOPMENT PROPOSAL

The MURP Associates team would like to thank individuals and organizations who have been beyond helpful and a true inspiration throughout this competition. Joan Ling - Academic Advisor Holly Benson - Development Advisor Abode Communities - Development Partner UCLA Luskin School of Public Affairs UCLA Ziman Center for Real Estate UCLA Department of Urban and Regional Planning UCLA Lewis Center Sandra Rossato, Clinica Romero Raul Diaz, Homeboy Industries Eric Hubbard, Jovenes Inc. Roxana Aguilar, Los Angeles Conservation Corps Todd Franke, UCLA Chair Department of Social Welfare Maria Cabildo, East LA Community Corporation Osvaldo Garcia, East LA Community Corporation Ernesto Espinoza, East LA Community Corporation Nancy Halpern Ibrahim, Esperanza Community Housing Daniel Huynh, Abode Communities Gigi Szabo, Skid Row Housing Trust Theresa Hwang, Skid Row Housing Trust Andi Isreal, Skid Row Housing Trust Ted Bardacke, Office of Los Angeles Mayor Eric Garcetti Jeanalee Obergfell, Office of Los Angeles Mayor Eric Garcetti Kevin Ocubillo, Office of Councilmember José Huizar Lilly O’Brien-Kovari, Office of Councilmember José Huizar Kit Awakuni, City of Los Angeles Department of City Planning Daniel Ahadian, City of Los Angeles Department of City Planning Dhiraj Narayan, Housing Authority of the City of Los Angeles Terri Boykins, Los Angeles County Department of Mental Health Belen Fuller, Los Angeles County Department of Mental Health Lois Starr, Los Angeles County Community Development Commission Kathy Tran, Cassidy Turley Hector Gutierrez, Community Health Councils Alexander Kalamaros, METRO Malcolm Harris, Hammond Studio Fermín Herrera, California State University, Northridge Cecilia Ngo, Coalition for Responsible Community Development Jesus Cardoso, One Media Communications Nancy Lewis, Nancy Lewis Associates, Inc. Students from East Los Angeles Renaissance Academy Maria Bustria-Glickman, U.S. Bancorp Community Development Corporation Johanna Gullick, Union Bank Jan-Michael Medina, Union Bank Andrea Ursillo, Bank of America Merrill Lynch

XIPE TOTEC | DEVELOPMENT PROPOSAL

Project Overview...................................................................6 Executive summary...............................................................7 Geography..............................................................................8 Project Setting Amenities Map Market Study........................................................................12 Site Conditions....................................................................16 Zoning Entitlements Design...................................................................................18 Site Plan Elevations and Renderings Sustainability.......................................................................27 Community Development and Engagement.................29 Services.................................................................................31 Financing Structure.............................................................35 Funding Sources Project Budget Costs Rents Operating Expenses Cash Flow Biographies..........................................................................39 Appendices..........................................................................42 Proforma TCAC 9% LEED Point System Letters of Support

XIPE TOTEC | DEVELOPMENT PROPOSAL

LOCATION 345 N Fickett Street, Los Angeles, CA 90033 (Fickett St and Cesar E. Chavez Avenue) Neighborhood of Boyle Heights

ZONING

Total Parcel: 42,622 sq ft. Zoning: R3-1 & C-2

PROGRAM HOUSING UNITS 58 studio units (400 sq ft) 2 manager 1BR units (600 sq ft) 100% affordable housing for transition age youth (TAY) 13 parking spaces COMMERCIAL SPACE Medical Clinic (Clinica Romero) Social Enterprise (Homeboy Industries) 16 Parking Spaces AMENITIES Basketball court, community space, bike kitchen (Hosted by Homeboy Industries)

FINANCES COST TDC Residential Costs: $11,352,273 TDC Commercial Costs: $ 4,579,218 SOURCES Low Income Housing Tax Credits New Market Tax Credits LA Department of Mental Health (Capital Subsidy) Bank Loan

Video http://youtu.be/9r5wCqBrVbw

XIPE TOTEC | DEVELOPMENT PROPOSAL

MURP Associates is pleased to present Xipe Totec, a mixed-use project with 58-units of affordable studio units, two managers units and two commercial spaces. The units serve the housing needs of low-income transitional age youth (TAY), meaning 18-25 year old youth that have aged out of the foster care system. The commercial spaces will house a medical clinic and a youth services center. Xipe Totec (pronounced si-pe toh-tec) is located along a well-used commercial corridor in the historical neighborhood of Boyle Heights. We envision this project as being an innovative, mixed-used and transit-oriented development project that is grounded in the local needs and context of Boyle Heights. Due to the proximity of our project to the Metro Gold Line Soto Station and eight bus stops, our project is a perfect transit-oriented mixed-use development that is critical for our residents and the neighborhood, many of whom may not own cars and are transit dependent. Xipe Totec is a stable permanent home for our residents but also serves to anchor the community with health resources, and educational and work support. In Aztec mythology, different gods created different parts of the world. Xipe Totec is the name of the Aztec god that created the East, the direction of the rising sun. He is also the Aztec god of agriculture, fertility, and regeneration. Xipe Totec symbolizes new roots in Boyle Heights - where youth have the opportunity to rebuild and to lead their future and the future of the neighborhood, in essence, recreating the East.

XIPE TOTEC | DEVELOPMENT PROPOSAL

The community of Boyle Heights is a densely populated neighborhood immediately east of Downtown Los Angeles. Itâ&#x20AC;&#x2122;s neighboring communities are unincorporated East Los Angeles is to the east and downtown to its west. Boyle Heights is only around 6 square miles however, it has 99,243 residents living in 6.52 square miles. At 14,229 people per square mile, Boyle Heights is among the densest communities in Los Angeles County. Boyle Heights also has four major Southern California freeways (the I-5, I-10, US-101, and the CA-60) running through it. Historically a diverse community of Jews, African-Americans and Hispanic/Latinos, the community is today a primarily a Hispanic/ Latino neighborhood (92.6%). The community is, with a median household (HH) income of $26,223, one of the poorest communities in Los Angeles. The poverty rate in Boyle Heights is 31.3% compared to 15.4% in Los Angeles County. While 75.5% of Los Angeles County residents have a high school diploma, only 45% of residents do in Boyle Heights. Residents in Boyle Heights primarily work in manufacturing, retail, health care and social assistance, accommodation and food services, and wholesale trade. Boyle Heights has a large population of young people, with 27.2 percent of the population being 20 years of age or less. Compared to both the state and citywide average, Boyle Heights has a significantly higher household size, with 4.1 persons per household.

POPULATION:

99,243 MEDIAN HOUSEHOLD INCOME

$26,223 PERCENT HISPANIC/LATINO

92.6%

AVERAGE HOUSEHOLD SIZE

4.1

RESIDENTS AGED <20

27.2% 8

XIPE TOTEC | DEVELOPMENT PROPOSAL

345 FICKETT

REGIONAL MAP, WITH BOYLE HEIGHTS OUTLINED IN BLUE

DOWNTOWN L.A.

SOUTHWESTERN VIEW OVER BOYLE HEIGHTS, WITH DOWNTOWN LOS ANGELES IN THE BACKGROUND

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HE W

XIPE TOTEC | DEVELOPMENT PROPOSAL

HA VE

FIC

ZA VE

IMAGERY MAP WITH LOT IN ORANGE

345 FICKETT

5 HWY

HOLLENBECK PARK

EVERGREEN CEMENTARY

XIPE TOTEC | DEVELOPMENT PROPOSAL

Legend Project Site Medical Libraries Parks and Gardens Schools Recreation Centers Groceries Bus Stops Metro Station Metro Gold Line 1/4 Mile Radius 1/2 Mile Radius Highways

0.125

0.25

0.5 Miles

XIPE TOTEC | DEVELOPMENT PROPOSAL

TRANSITION AGED YOUTH Our project will serve transition aged youth (TAY). Los Angeles has a reputation of being the “homeless capital of America” and within the homeless population, transition aged youth are one of the fastest growing subpopulations. These youth have either aged-out of the foster care or the probation system and generally refers to youth between 18-25 years. Typical risk factors for this population include a lack of high school diplomas/GED, little to no job experience or training, mental health disabilities or behavioral disorders, and limited support systems. About 1,500 transition age youth emancipate each year in LA County. About 50% end up homeless within a year of emancipation. However, this is considered an undercount, as homeless youth and TAY are difficult to identify and to count. They often also do not want to be identified as homeless. Boyle Heights and East LA have the highest rates of youth homelessness in the Los Angeles Unified School District. In just three schools in Boyle Heights (Hollenbeck Middle School, Mendez Learning Center, and Roosevelt High School), there were 724 youth who experienced homelessness in 2010. Youth (everyone under 18 years old) in Boyle Heights face higher rates of poverty, almost double the rate of youth in Los Angeles County.

However, there are very little studies being done on homeless youth needs in this area. Service providers for TAY and homeless youth have said that homeless youth populations are very diverse. In East LA and Boyle Heights, the population is overwhemingly youth of color from Los Angeles (as opposed to Hollywood, where many youth are white and from outside of the the county or California). According to Jovenes Inc, a Boyle Heights youth services and housing provider, it is critical to “build capacity and tailor solutions that reflect the populations [being] serve[d].” However, despite the organizations in the area, Boyle Heights still has great need and is a very underserved area in terms of services and housing. Boyle Heights shares a county mental health funding service area for TAY with central Los Angeles, which is a large territory. Much of the funding for homeless youth center in Hollywood and on the Westside, however, East and South LA have a huge need that is not being met. 12

XIPE TOTEC | DEVELOPMENT PROPOSAL

HOUSING STOCK

TARGET POPULATION

There are 23,400 housing units in Boyle Heights. About 65% of that stock is multiplefamily units and the rest are single-family units. The housing stock in Boyle Heights is generally old, with low to medium density single family homes or apartment buildings. Residents are overwhemlingly renters (about 75% are renters).

Professionals in the field say that permanent supportive housing in conjunction with comprehensive services is the best way to stabilize homeless youth, who need 30-50% more time to stabilize than other homeless populations. Permanent Supportive Housing ensures longer-term housing stability, provides affordable and subsidized rent, and includes supportive services to help maintain the housing and to achieve individually set goals. This is different from transitional housing, which is more akin to shared housing/ shelters and allows for only shorter stays. However, currently Boyle Heights has more short-term housing (shelters and transitional housing) than permanent supportive housing available. There are only three permanent supportive housing developments for specifically youth in this service area and only one development of 15 units in Boyle Heights. There is a high need for more.

Despite the low densities, Boyle Heights has many single family homes divided into duplexes, triplexes and more. Housing is made â&#x20AC;&#x153;affordableâ&#x20AC;? due to overcrowding, with several families or people living together per unit. When looking at overcrowding,16% of renters live in overcrowded situations and 7% of owner housing live in overcroweded situations. Boyle Heights is also facing threats to its affordable housing stock. New development is coming into Boyle Heights at a fast pace because of new transit and transit-oriented development. The Metropolitan Transporation Authority has invested $848 million to extend the Gold Line rail stations. Eight new stations have opened up in Boyle Heights and East LA area. However, community members are concerned that long-term residents will be displaced due to a jump in prices for real estate.

The median rent in Boyle Heights is $814. The average market rate rent for studios in Boyle Heights is at $750 and for 1 bedrooms, it is $1198. This is unattainable for our targed population, who at 30% AMI, can afford $428 in rent. Our rents range in the middle of the affordability spectrum of rents for TAY, according to Jovenes Inc., another housing and service provider for TAY in Boyle Heights. This project offers 400 sq ft. studio units, which are on the middle or larger end of the spectrum for TAY units. The idea is to think

XIPE TOTEC | DEVELOPMENT PROPOSAL

TABLE ES.1 Quantified Objectives: New Construction Income Category

Number of Units

Extremely low-income households (O 30% AMI)

1,730

Very low-income households (31-50% AMI)

3,834

Low-income households (51-80% AMI)

4,873

Moderate-income households (81-120% AMI) Above moderate-income households (> 120% AMI)

1,122 48,000

Total RHNA Goal Difference

59,559 82,002 -22,443

about comfortable, livable spaces that have marked differences from transitional housing. All units have kitchens and bathrooms. We want to have affordable, quality spaces for our residents to gain independence and stability. TAY also have specific service needs, which will be provided in our building. Boyle Heights nonprofits have been leading the way in working in a comprehensive, long-term way with TAY youth, especially youth of color. In Boyle Heights, over 96 percent of youth are Latino. Organizations like Jovenes Inc. are pioneers in offering models for services and supportive housing for TAY in Boyle Heights. There are other youth service providers that we can tap into to collaborate with. We believe that with the right services and quality housing, our tenants can maintain jobs and their homes.

LOS ANGELES CITY HOUSING ELEMENT The city of Los Angeles just adopted a new Housing Element in December 2013. The new 2013-2021 Housing Element is organized around this vision: “to create for all residents a city of livable and sustainable neighborhoods with a range of housing types, sizes and costs in proximity to jobs, amenities and services. In keeping with decades of federal Housing Acts and the Universal Declaration of Human Rights that declared housing as a human right, the City will work towards ensuring that housing is provided to all residents.” It states that to meet this goal, “the City is expected to need an additional 82,002 new units through 2021, of which 46,590 units (57%) are designated for very low- and low-income households based on the Regional Housing Needs Assessment (RHNA).” However, as the above Table shows, the number of units that will be constructed within the RHNA time period compared to the amount needed to house everyone. As shown, the city is not projected to meet its targets to create enough affordable housing to house everyone that needs it. 14

XIPE TOTEC | DEVELOPMENT PROPOSAL

COMMERCIAL Our commercial spaces aim to provide preventative and primary care with the clinic, but also to specialize in mental health and workforce/educational services for youth and homeless populations in our wider community. Not only will this be a strong part of our service package for our youth residents, this will also open up our client base to people outside of Boyle Heights, such as East LA, Downtown, and the surrounding neighborhoods. There are several factors that will increase demand for health care clinics. There is a large increase in demand as more patients can access health care due to the Affordable Care Act. While hospitals may see increased demand with patients, clinics are still facing demand in different population needs. In 2011, 32% of adults were uninsured versus 26% in LA County & 22% in California. We want to focus on uninsured popuations, including undocumented patients and homeless populations, that will still heavily rely on medical care at health clinics. While this may sound like taking on more financial risk, there is also long-term federal funding available for these populations like funding from the Health Resources and Services Administration (HRSA). This has been a critical fund to stabilize clinics. Boyle Heights is the site of several large health care facilities, however, there is still a need to provide new spaces for health care facilities. The majority of structures in Boyle Heights were built before 1950. Clinics are at their capacity already and face the need to move from their older buildings to access larger and updated

spaces, especially as demand increases. The City of Los Angeles is implementing a new system to recover youth who drop out of school by connecting them to a YouthSource Center which offers educational services and workforce development with a case management model. It has been successful and a model being looked at by other cities, however, there is only one YouthSource Center in Boyle Heights that covers three large high schools in the area. In addition to health services, we also aim to partner with a service provider to provide a similar, comprehensive model of educational/ workforce development services by the health clinic. Boyle Heights is a good location for this because of existing service providers in the neighborhood that cater to our target audience. However, despite that, there is still a large need in the neighborhood. The youth unemployment rate in the larger Los Angeles metro area is 22.9%, double the rate of adult unemployment at 9.9%. In the City of Los Angeles, there are over 18,000 identified high school students out of school in a given semester, and nearly 100,000 young people out of school and out of work between the ages 16 -24. However, there is only one YouthSource Center in Boyle Heights that covers three large high schools in the area. We believe that due to the proximity of our residents and to, another center is supportable. It would also be open to the wider public and could split the demand between the two centers.

XIPE TOTEC | DEVELOPMENT PROPOSAL

Zoning and Entitlements Xipe Totec will be constructed on 10 different parcels. Eight of the parcels are zoned for commercial zoning (C-2), however the (R-4) multi-family zoning designation is applied when the site is going to be used for residential purposes. The two remaining parcels are zoned for residential (R-3). Based on the zoning restrictions provided in the table below we are proposing to build a mixed-used development that would contain 58 studio units that are 100% affordable for transitional aged youth accompanied by a youth center and a clinic for the retail. The table on the next page summarizes our projectâ&#x20AC;&#x2122;s zoning constraints and development standards. In addition to the municipal code our project is constrained by the city of Los Angeles General Plan. The city of Los Angeles Land Use Element is made up of 35 community plans which guide the physical development of each individual neighborhood within the city. The Boyle Heights Community Plan was last updated in 1998 and is currently being revised and updated by the planning department. The new plan has not been officially adopted so we will be using the 1998 plan as our main guide for this development.

variety of amenities. Xipe Totec will fulfill the policy objectives of the community plan by being near transit and by being in an area that is within walking distance of grocery stores, schools and bus stops.

Entitlement Process In order to develop on the 345 Fickett site we will have to go through the entitlement process within the city of Los Angeles. The first step in the process is to obtain a case filing approval form and an affordable housing referral form. At the same time we will be submitting the environmental assessment form, a density bonus application and the site plan application. Our environmental review will take about 6 months. The planning department will process the density bonus and site plan which in total will take about 8 months. This process will include recording our covenant agreements. We will be submitting our final construction drawings to the Dept. of Building and Safety for plan check, paying our fees and receiving our permits to commence construction all within a 2 month timeframe.

The 1998 Boyle Heights Community plan mostly focused around the rehabilitation of the existing housing stock. The planâ&#x20AC;&#x2122;s main policy objectives included a push for development near transit and for housing that was easily accessible to a 16

Metro RFP 3

Construction

Plan Check & Corrections

Covenant Agreement

Lease Up Period

Stabilization

Fees & Received Permits

LAHD Approval

Single Long Term Lease

Density Review

MND Published 7 & Circulated Site Plan &

Entitlements

City Planning

Environmental Review

Land Acquisition

4 1

Initial Study

Metro Land Contract Preperation

XIPE TOTEC | DEVELOPMENT PROPOSAL

SITE SPECIFIC ZONING SUMMARY Address

345 Fickett Ave, Los Angeles, CA. 90033

Property Owner

LA METRO

Zoning

C2-1 and R-3

Sq Ft

42,662 Sq Ft

# of Lots

General Plan

Community Commercial

Community Plan

Boyle Heights

Current use

Empty Lot

Accepted use

R-4 is allowed in C-2 zone

FAR

1.5 for C-2 zone and 3:1 in R-3 zone

Height

Unlimited for C-2 and 45' in R-3

Set backs w/out Density Bonus Set Backs (20% reduction with Density Bonus)

Front:15, Side: 10', Rear:'15

Assesed value

$2,227,756.50

Enterprise Zone Parking Residentail (By-Right if applying for Density Bonus)

East Los Angeles State Enterprise Zone

Parking Commercial

Front:'15, Side:' 8, Rear:' 12

0.25

1 for every 500 Sq. Ft. OTHER CONSTRAINTS

Historic Monument Site East Los Angeles State Enterprise Zone

Incorporate history of the commercial Corridor into the design Reduces Parking Requirements

Sec. 12.20.3 of LAMC (Z) No.2129: Section 12.21 A4(X)(3)

1 Space/500 Sq. Ft.

LADBS Doc. No. P/ZC 2002011 - Summary of Parking Regulations (LADBS)

Methane Buffer Zone

Level I Mititgation Requirements

Zimas; LADBS Doc. No. P/BC 2011-101- Site Testing Standards for Methane; City of Los Angeles Building Code Chapter 71

Seismic Hazards Bicycle Parking Reduction

Poorly Constrained Reduce parking by 15% for Residentail and 30% for Retail if the site is located within 1,500 of a transit station. Car Parking Spaces will be made into bicycle parking spaces

City of Los Angeles Zimas *Bicylce Odinance (Sec. 3. Subdivision 4 of Subsection A of Section 12.21 of the Los Angeles Municipal Code)

Enterprise CommercialParking

XIPE TOTEC | DEVELOPMENT PROPOSAL

Cesar Chavez Ave is a vital artery in the hearts of East LA residents. This historic Avenue is the main commercial corridor in Boyle Heights and caters to the immediate consumer needs of the community. Staying true to its profile, Xipe Totec orients the clinic and youth center to face Cesar Chavez Ave. The grand steps that lead to a rooftop terrace are reminiscent of structures from Tenochtitlan (the largest pre-hispanic urban center) a heritage that has followed Latinos of Mexican descent for generations. Latino Urbanism is special in Boyle Heights in that it shares a tradition of utilizing public space in creative and necessary ways that is not common in typical US cities. Xipe Totec encourages community cohesion by providing a

setback on Cesar Chavez; continuing the urban form of this historic corridor, yet providing additional public space with the developmentâ&#x20AC;&#x2122;s setback.

residential RESIDENTIAL Type of Type ofBedrooms Bedrooms

Size Size

Number NumberofofUnits Units Total SqFt

Studio

400 sq.ft.

29 11,600 sq.ft.

Additional Studio

400 sq.ft.

29 11,600 sq.ft.

1 BR

600 sq.ft.

Total

2 1,200 sq.ft. 60 24,400 sq.ft.

Retail Type RETAIL TYPE

Youth Source Center Health Clinic Total

Total SqFt

Size Size

3,920 sq.ft. 6,800 sq.ft. 10,720 sq.ft.

View from cesar chavez ave

XIPE TOTEC | DEVELOPMENT PROPOSAL

Circulation

Massing

Pedestrian entrances to the development exist from both Cesar Chavez Ave and Fickett St. Internally, residents are able to move freely across perforated bridge structures and connecting pathways.

Step backs on the southern side of the development are necessary to respect neighbors and prevent from introducing an intimidating feature into the area. The residential units are also staggered to create multiple views and increase natural and indirect light from the many surfaces.

PROGRAM

E CK

OUT PATIENT CLINIC YOUTH CENTER STUDIO APARTMENTS MANGER UNITS MANAGER UNITS COMMUNITY SPACE OFFICE SPACE

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XIPE TOTEC | DEVELOPMENT PROPOSAL

Residential Programming

Open Space

Residential programming includes 58 units each sized at 400 sq ft and all share the same layout. The two management units are sized at 600 sq ft and centrally centrally located within the development for full observation of the residents as a recommended standard. Each residential unit includes one ADA compliant bathroom, one kitchenette, a large window with views of the neighborhood, a desk, and storage units.

Residents have a variety of open space and recreational services within Xipe Totec. Programming includes a basketball court above the clinic with a wall that also acts as a projection screen for outdoor films on warm Southern California nights . In addition, Xipe Totec also includes passive recreation areas where residents can simply sit and decompress from the stressors and traumas imposed by daily life. Finally, the development includes a slew of exposed connecting paths and bridges that make interesting circullation patterns while ensuring vigillance from case managers.

Commercial Programming The medical clinic is 6,800 sq ft and is located on the corner of Cesar Chavez and Fickett, an accessible and highly populated street. The outpatient clinic is composed of modules that host everything from examination rooms to administrative offices. Indoor and exterior waiting rooms provide patients with views of Cesar Chavez Ave and the local neighborhood activity. Clinica Romero, a similar neighborhood clinic of 7,000 sq ft in a similar neighborhood setting, currently provides assistance of up to 300 patients per day. Main aspects of the youth center include a computer room, a multi-purpose room, a small library and lounge space, and a bicycle workshop area. This bike workshop also serves as the hub for the bike sharing program that will allow residents to run daily errands. Programs like bike share and bike repair allow for residents to build hands on skills as well as business and program management skills. These programs also act as the pilot, or example, of a small business social entrepreneurship.

Parking Parking for the entire development is located on the western side, adjacent to the alleyway. The entrance and exit is on Cesar Chavez Ave. We have a total of 31 number of parking spots. Parking requirements for TAY are minimal considering that most transition-age youth cannot afford the financial burden of owning and operating automobiles. Our parking ratio for the residential units equals 0.25 spaces per unit, with 2 additional spaces for the 2 manager units. There is a total of 17 residential parking spots. There is a total of 16 parking spaces for the retail units. The parking ratio is 1 spot per 500 sq. ft. We are using a reduction from the Bicycle Ordinance, which reduces our parking by 6.4 spaces. We are also in a Transit-Oriented Development area (a quarter mile from a light rail station) and in an Enterprise Zone, which encourages reducing parking spots. 21

XIPE TOTEC | DEVELOPMENT PROPOSAL

SITE PLAN

CESAR CHAVEZ AVE

OUTDOOR LOUNGE/ WAITING ROOM

SIDEWALK

GRAND STEPS

PARKING

DRIVEWAY ENTRANCE

BASKETBALL COURT/TERRACE

ALLEY

PARKING

SIDEWALK

9 RESIDENTIAL UNITS ABOVE YOUTH CENTER

RESIDENTIAL UNITS ABOVE CLINIC

FICKETT ST

PARKING

251'-0"

250’-0”

LIFT

MGMT UNIT 1

MGMT UNIT 2

RESIDENTIAL UNITS

PARKING

N SITE PLAN

PARKING

ALLEY

RESIDENTIAL COMMUNITY SPACE

170’-0” 170'-0"

PARKING

OFFICE SPACE

R-3 TWO STORY NEIGHBOR

Atrium Garden

Medical Center <30' - 0">

<20' - 0">

<10'- 0">

10’

<43' - 0">

<30' - 0">

<20' - 0">

20’-0”

<10'- 0"> <12' - 0">

<43' - 0">

<30' - 0">

30’-0” <20' - 0"> <12' - 0"> <10'- 0">

<43' - 0">

<30' - 0"> <20' - 0"> <12' - 0"> <10'- 0">

<43' - 0">

43’-0”

XIPE TOTEC | DEVELOPMENT PROPOSAL

elevations

WEST ELEVATION

EAST ELEVATION

NORTH ELEVATION

SOUTH ELEVATION

SECTION

Studio Units

Out door Community Space

Patio Space

XIPE TOTEC | DEVELOPMENT PROPOSAL

Level 1

Parking Lot

Pedestrian Welcome Mat

Laundry Room Elevator

Community Space

Youth Center

Management Offices

Bike shop

Studio

Atrium Garden

Studio

Medical Center Studio

Studio

Patio Space

level 2

Elevator

Studio

Studio Studio

Studio

Unit Access Herbs Studio

Studio

Studio Studio

Studio

Herbs Unit Access Unit Access

Studio

Studio Studio

Studio

Studio Studio

Studio

Out Door Community Space

XIPE TOTEC | DEVELOPMENT PROPOSAL

Neighborhood Context

R-3 TWO STORY

C-2 COMMERCIAL ONE STORY

R-3 MULTI-STORY

S CE

Z VE HA

E AV

C-2 COMMERCIAL ONE STORY

site plan view

XIPE TOTEC | DEVELOPMENT PROPOSAL

View from Fickett st

REAR VIEW OF DEVELOPMENT

XIPE TOTEC | DEVELOPMENT PROPOSAL interior studio apartment

interior studio apartment

apartment floor plan

XIPE TOTEC | DEVELOPMENT PROPOSAL

Sustainability is pivotal to any housing development in terms of addressing the needs of a community and resources of the environment. For this development we have obtained a LEED Gold Rating (see appendix). Another sustainable feature of our development includes the residential unit orientation. All units make full use of passive solar building design, allowing light and heat to enter in the mornings and providing shade throughout the rest of the day. The local climate and placement of windows makes for a comfortable living environment that requires little to no temperature conditioning.

hollenbeck park

XIPE TOTEC | DEVELOPMENT PROPOSAL

Plant Catalog Boyle Heights is located in the USDA Hardiness Zone 10: 30-40 F. The following plant catalogue is climate appropriate, low maintenance, and applies to the proposed development: Groundcover Blue Flame Agave Deergrass- Muhlenbergia rigens Blue Oatgrass- Helictotrichon sempervirens Blue Chalksticks- Senecio-mandraliscae

Blue Oak Grass

Flower California Poppy- Eschscholzia californica Blue Salvia- Salvia farinacea Tree California Sycamore- Platanus racemosa Pineapple Guava- Feijoa sellowiana Blue Chalk Sticks

California Poppy

Blue Flame Agave

Pineapple Guava

California Sycamore

Deergrass

Blue Salvia

XIPE TOTEC | DEVELOPMENT PROPOSAL

Our goal is to incorporate our project into the fabric of the neighborhood through the involvement of residents and property owners in the vicinity. Our comprehensive strategy involves community workshops to determine needs and considerations, communicating the schedule and potential impacts of the project during construction, and actively engaging community stakeholders throughout each phase of the development process.

Street and Mariachi Plaza, we want to expand success for small businesses onto Cesar Chavez Ave and to the Soto Station. This project is an anti-displacing strategy that supports residents and small businesses through the inclusion of affordable housing and local, communityserving retail.

PRE-DEVELOPMENT

Our key opponents are neighboring residents that might have issues with the density and with the target population of formerly homeless transition age youth. Businesses may have concerns about integrating this new project into the fabric of the commercial corridor.

Our planning and development began with a thorough assessment of community needs. While this was informed largely by available demographic data and a thorough market analysis, it was supported by meetings with City staff, Council Member Jose Huizar, community leaders, and representatives from various community organizations, and supportive services groups.

However, Boyle Heights is a community with a strong support for youth issues. our program is centered around community serving resources - a clinic, educational and work services, and health things like bikes. This project brings attention to a commercial area that has not been as popularized. Like 1st

In addition on May 2, 2014 our development team hosted an Urban Planning Youth Empowerment Conference for 150 youth from East Los Angeles Renaissance Academy, a high school in Boyle Heights, to learn about improving their community through urban

30 MAY 2ND 2014 URBAN PLANNING YOUTH CONFERENCE

XIPE TOTEC | DEVELOPMENT PROPOSAL

planning and development. This conference included an affordable housing workshop with over 60 participants in which the youth developed a site plan for their own affordable housing development on our project site (345 Fickett St). Our approach to development incorporating community participation provided opportunities for stakeholders to express their concerns and offer their own ideas about what they would like their community to look like. The advantages of this approach allowed us to develop a well-informed development program and design while gaining valuable support for our project from local stakeholders. Based on these workshops and meetings with community stakeholders our project gained a greater understanding for the needs of this community lacking access to medical services, affordable housing for homeless youth, spaces for public art, and job training to reduce high current youth unemployment.

CONSTRUCTION

For the latter stages of construction, our development project has contracted the services of LA Conservation Corp to assist with the construction of our development project. LA Conservation Corp is a local program that provides young people aged 16 to 24 in low-income communities the opportunity to earn their GED or high school diploma by enrolling in an alternative education program, building affordable housing, and participating in community development opportunities. Under the supervision of licensed contractors, LA Conservation Corp participants will help construct our affordable housing project in their

own community, and at the same time, develop construction and leadership skills they can take with them to lead successful and productive lives. LA Conservation Corp has committed up to 40 participants to the project. Throughout the construction process, our development team will hold monthly community meetings to update the public about construction progress and inform neighbors about impacts such as the temporary loss of on-street parking and durations of construction noise. These meetings will be an opportunity for the public to ask questions and communicate concerns to the development team. Additionally a printed newsletter will also be distributed to adjacent residents and property owners. Also information through these channels will be offered in English and Spanish and list contact information for the development team.

POST-CONSTRUCTION AND OCCUPANCY We will start outreach for lease-up about five months before construction finishes. With our property management company and our service partners, Jovenes Inc, we expect to have a long waiting list. Jovenes Inc. also operates short-term housing which will help in finding tenants for our project. Our community related process will also bring in tenants through the participants that have engaged in our process since the beginning. Our property managers and service operators will continue to work with the youth to build community and to build skills. 31

XIPE TOTEC | DEVELOPMENT PROPOSAL

SUMMARY 1 Property Manager, 1 Assistant Property Manager 1 Mental Health Specialist (Provided on site) 5 Case Workers (1 provided by Jovenes Inc, 2 provided by UCLA MSW Dept., 2 provided on site) 1 Education Specialists ( Provided by Jovenes Inc.) Medical Clinic Health Services (Provided by Clinica Romero) Job Training & Education Services (Provided by Homeboy Industries)

ON-SITE MANAGEMENT The 345 Fickett St. development project will provide two on-site managers to oversee the general care needs of the site and residents. This project will include two manager units to house a property manager and an assistant manager on site. Realizing that this age group will need support we have allotted space for two managers to distribute the responsibility of managing the project site demands. Additionally the project will also provide a generous office space area on site to house our site managers work space as well as other on site supportive care staff intended to serve the needs of our TAY residents.

SUPPORTIVE SERVICES This project recognizes the importance of providing the adequate supportive services needs to help youth tenants of this development

project. The services are designed to provide the highest level of care and support for the residents of this development. Youth will have access to a full team of trained and experienced staff capable of assisting youth in a wide array of areas. In total these tenants will have access to one mental health specialist, 4 case workers, and one education specialists intended to assist youth with their educational goals. MURP Associates is providing one full-time on-site mental health specialist to assist with rehabilitation needs and one full time case worker to assist in supporting youth in their social services needs. In addition, we are working in a dynamic partnership with several community partners to set up a full array of supportive services. The community partners include Jovenes Inc, a local nonprofit in Boyle Heights that specializes in permanent supportive housing for TAY and the UCLA Department of Social Welfare. 32

XIPE TOTEC | DEVELOPMENT PROPOSAL

Jovenes Inc. has been providing supportive housing and services for TAY in Boyle Heights for more than 20 years. The Mission of Jovenes, Inc. is to help homeless youth and at-risk families become productive and integrated members of the community. In partnership with this development Jovenes will provide the services of one experienced case manager and one trained educational support specialist. The UCLA Social Welfare Department provides quality research and teaching for policy makers to shape programs and practice in such areas as mental health, children and families, and long-term supportive care. UCLA Social Welfare faculty members are committed to placing their knowledge at the service of communities and empowering the disadvantaged and the vulnerable. The departmentâ&#x20AC;&#x2122;s long-standing priority is to train the next generation of practitioners and leaders in the field, to lead in the development of knowledge for the social work profession and to strengthen social institutions and services in Los Angeles. To fulfill that mission, UCLA has a long-existing program that places students into work environments. Through this program, we are partnering up with the UCLA Social Welfare Department to accompany our service package with two senior Masters of Social Welfare candidates as additional staffers.

EDUCATION & JOB TRAINING Homeboy Industries is partnering with us to provide educational and job training services, but also to provide job opportunities for our residents and other youth in the community through a social enterprise. Homeboy Industries strives to provide through promoting youth development through job training to the re-entry youth population in Boyle Heights. As a leader in providing youth job training and reentry services to the residents of Boyle Heights for over 26 years, their core principles and commitment to those who need a second chance are a powerful match, making this a very strategic alliance. Homeboy will be a tenant of the youth education center and provide job training services to this community through the expansion of their youth services and the creation of a social entrepreneurial bike share & repair shop. As for services, Homeboy Industries offers over fifty classes/groups each week. The Homeboy academic curriculum provides support in high school equivalency test preparation and completion, college readiness, reading and writing, life skills. One of their most important partners, Learning Works Charter School (LWCS) specializes in the high school education component, while Homeboy Industries provides the wraparound services and part-time employment development of the students.

XIPE TOTEC | DEVELOPMENT PROPOSAL

HEALTH SERVICES Our commercial unit also offers a space for a medical clinic. We are partnering with ClĂnica Monsenor Oscar A. Romero, whose mission is to provide through accessible health care to low income communities in Los Angeles. ClĂnica Romero provides low-income cost comprehensive primary care and disease prevention services for men, women and youth. The clinic will be a contracted (Medical Home) clinic partner with Health Care LA, IPA (HCLA). Through this partnership, we will be able to offer a full array of medical care services and mental health services to the TAY resident population located on site of this project. In addition, we will also be able to treat residents from Boyle Heights and neighboring communities to care for patients enrolled with government sponsored managed care programs in Medi-Cal, Medicare Advantage and Medi-Medi (dual eligibles).

345 FICKETT DEVELOPMENTPROPOSAL PROPOSAL XIPE TOTEC | |DEVELOPMENT

TDC:

$15,931,491

USES OF FUNDS Land $2,268,034 Hard - Construction

$9,582,354

Soft Costs $4,081,103 TOTAL $15,931,491

EQUITY SHARE:

59%

SOURCES OF FUNDS Bank Loan $3,561,838 Low Income Housing Tax Credit Equity $8,434,020 LA Department of Mental Health

$2,918,253

New Market Tax Credit Equity $1,017,380 TOTAL $15,931,491

L.A. CITY/COUNTY FUNDING

$2,918,253

XIPE TOTEC | DEVELOPMENT PROPOSAL

Residential Construction Loan: $5,832,431 Because our development has two ownership structures (two LLCs), we are financing our retail and residential differently. Bank of America Merrill Lynch has agreed to provide a construction loan of $5,832,431 for the development of the residential portion of our project. Retail Construction & Permanent Bank Loan: $3,561,838 The project’s Construction and Permanent Bank Loan is sized only by the Retail Net Operating Income (NOI). This loan will assist only the retail portion of the development. The Construction Bank Loan will be converted to a permanent loan after construction close. 9% Low Income Housing Tax Credit (LIHTC) Equity: $8,434,020 In order for the project to sustain its residential development costs, we seek to acquire ~$8.43 Million in LIHTC equity. We are taking the requested unadjusted eligible basis at ~$7.8 Million and will be selling our credits at $1.10 for every $1.00 of tax credit. The LIHTC equity comes in during construction at 15 percent for the initial capital contribution. The rest of the equity will come in during the permanent phase to close the construction loan costs and any unpaid capital contributions. *Please refer to the Appendix for LIHTC Equity Determination

Los Angeles County Department of Mental Health: $2,918,253 In order to pay for the predevelopment costs, we seek capital subsidy funding from the Los Angeles County Department of Mental Health (LACDMH). Under the Mental Health Services Act Housing Program NOFA from the County, we request up to $121,655 per unit cost for capital and/or operating subsidy. LA County DMH will make available $7 million for the acquisition, new construction and rehabilitation of permanent supportive housing. Because the project assumes Section 8 Project Based Vouchers (PBV), we do not need the operating subsidy. However, we will be requesting a capital subsidy of $2,918,253 to fund the predevelopment phase. Our project meets the funding principles and priorities of the the County. Our project prioritizes a target population of no more than 30% AMI. Since we have an operating subsidy from Housing Authority of the City of Los Angeles (HACLA) through Section 8 PBV and are targeting a vulnerable population, we are confident that our proposal will acquire the funds from the Department. New Market Tax Credits (NMTC): $1,512,555 Gross | $1,017,380 Net Due to lack of financing to fulfil the retail portion’s development costs, we seek to apply for NMTC. The U.S. Bancorp Community Development Corporation’s (USBCDC) has agreed to issue the development NMTC of ~$1.5 Million, which includes the fees and costs for NMTC. The NMTC comes with two different fees: the fee reserves ($245,175) and the closing costs ($250,000). The fee totals are 495,175. 36

XIPE TOTEC | DEVELOPMENT PROPOSAL

Our project is eligible for ~1.5 Million, however, the bank holds back the fee totals ($495,175), which gives us a net allocation of $1,017,380 in NMTC. Please refer to the Appendix for the NMTC calculations.

PROJECT BUDGET COST ASSUMPTIONS Please refer to the accompanying exhibits. The following notes describe certain assumptions included in the projections. Land Value: ($2,227,757) Land value was calculated based on an estimated land values of nearby projects within 1000ft of the project. The land is averaged at $52.22 per square feet of commercial parcels in the project’s market area. This sum will be paid to Metro as prepaid ground lease rent for the lease term at the beginning of the project’s construction. We are budgeting 10% of the land cost in the predevelopment phase to allow for a deposit with the Los Angeles Metropolitan Transportation Agency. The project site will be a ground lease of 70 year. We will then close escrow at construction start.

Construction Hard Cost Construction hard cost are based on information from RS Means 2014 and from similarly designed comparables from our developer partner, Abode Communities. Our residential additives include appliances for the kitchens, elevators, laundry room appliances and smoke detectors. Our retail additives include emergency lighting, smoke detectors and sound systems. We have included additional medical equipment costs as the tenant improvements line item. In order to be competitive and unique, we budgeted an extra 2 percent of our hard costs to meet LEED certified standards. Location Factor Prevailing Wage The cost estimates assumes wage standards for both State and Davis-Bacon prevailing wages, which is required for the public funding sources. The costs also take into account a location factor of 1.09 for residential and 1.07 for the retail for building in Los Angeles. Soft Cost Soft costs are based on our faculty advisor’s experience and of our developer partner, Abode Communities’ experience at similar properties. It is also based off of similar costs from comparable projects from East Los Angeles Community Corporation, another local Boyle Heights affordable housing developer. Hard Cost and Soft Cost Contingency We utilized a 5% Construction Hard Cost Contingency and another 5% Soft Cost Contingency. 37

XIPE TOTEC | DEVELOPMENT PROPOSAL

Developer Fee Our financing plan has our developer fee at $1,495,925. However, we are deferring twothirds of our developer fee after we receive our Certificate of Occupancy. We will then pay back our Developer Fee within 15 years.

RENTS Residential For our residential rents, our tenants pay $390. This rent level are determined by the California Tax Credit Allocation Committee (CTCAC) guidelines in order to access the 9% LIHTC funding source. All 58 of our studios are “Extremely Low-Income” units at the 30% Area Median Income (AMI) limit, which sets the rents for studios at $390 after utility allowance. The utility allowances are set according to the HACLA

Commercial For our medical clinic (6,800 sq ft), we are assuming rents of $2.50 per square feet, totaling $204,000 annually. This has been confirmed by our tenant, Clinica Romero. MURP Associates will be providing tenant improvements and in return, Clinica Romero will be leasing the clinic space for us with a triple net lease for a minimum of 5 years (with the option to renew the lease) at the stated rent of $2.50. The Youth Center’s rents are set at $2.00 per square feet, bringing in $94,080 annually. Homeboy Industries will be the tenant for the Youth Center, offering services and a social enterprise. If not, Los Angeles Conservation Corporation is our back up tenant for this space. They will also utilize the space for their office and job-training services. Both tenants will have triple net leases for 5 years at minimum with the option to renew.

Section 8 PBV supplements our rental income. The Fair Market Rents (FMR) in Los Angeles in 2014 for studio units is $958. The Section 8 PBV will pay the difference between the FMR and the rents the tenants are able to pay. We also have income from laundry coming in. We have calculated this as $8 per unit, bringing in $5,760 annually in income. In order to get the maximum 35% Density Bonus for our project, 11% of our units must be set aside as being below 50% AMI. At 100% of our units (excluding managers units) at 30% AMI, we meet this condition. 38

Bank Loan Tax Credit Equity Developer Equity LA Department of Mental Health (Capital Subsidy) Other Funds New Market Tax Credits (NMTC) TOTAL surplus (gap) *

SOURCES OF FUNDS

Predevelopment Total $ $ $ $ 2,918,253 $ $ $ 2,918,253 1,414,308

error check ->

1,503,945

Predevelopment Total $ 226,803 $ $ 1,218,840 $ 58,301

$ $ $ $ $ $ $

$ $ $ $ $ $

Construction Total 9,394,269 1,265,103 2,918,253 1,017,380 14,595,004 0

Construction Total 2,268,034 9,582,354 3,886,764 194,338 (1,336,487) 14,595,004

$ $ $ $ $ $ $

$ $ $ $

% Residential 32.9% 67.1%

$ 11,352,273 Permanent Retail Residential 3,561,838 $ $ 8,434,020 $ $ 2,918,253 $ 1,017,380 $ 4,579,218 $ 11,352,273 (0) 0

4,579,218

Permanent Retail Residential 746,425 $ 1,521,609 3,073,175 $ 6,509,179 723,445 $ 3,163,319 36,172 $ 158,166

Xipe Totec No. of Units % Retail 345 Fickett Ave 60 Los Angeles, CA. 90033 Randy, Ara, Dennis, Daisy, Carlos, Brandon, Gustavo

Land* Hard - Construction Soft Soft Cost Contingency Deferred Costs-Developer Fees+Capitalized Reserves TOTAL $

USES OF FUNDS

Project Name Street Address City Developer Team

XIPE TOTEC | DEVELOPMENT PROPOSAL

0 0 423,158

(70,000) (52,661) (9,000) 291,497

332,173

5.46% 1.20 (241,613) 90,560

Vacancy Loss Collection Loss RETAIL EFFECTIVE GROSS

Operating Expenses Real Estate Taxes Replacement Reserve Fund RETAIL NET OPERATING INCOME

TOTAL NET OPERATING INCOME (NOI)

RETAIL LOAN CALCULATION Interest Rate DSCR Debt Service CASH FLOW

P-ship Admin Fee Beg Balance Current Year P-ship Admin Fee Cumulative P-ship Admin Fee Current Year P-ship Admin Fee Paid P-ship Admin Fee Ending Balance

Investor Fee Beg Bal Current Year Investor Fee Cumulative Investor Fee Current Year Investor Fee Paid Investor Fee Ending Balance

CHART DATA SUMMARY Gross Income Operating Expenses Net Operating

0 10,000 10,000 (10,000) 0

0 3,000 3,000 (3,000) 0

1,104,830 433,800 332,173

39,000

298,080 0 125,078 423,158

Retail Income Other Income Expense Reimbursement (NNN) RETAIL GROSS INCOME

CUMULATIVE RESERVE FUND

(363,800) (17,028) (162,000) (30,000) 40,676

Operating Expenses Real Estate Taxes Supportive Services Replacement Reserve Fund RESIDENTIAL NET OPERATING INCOME

(67,219) (3,000) (10,000) (12,257) (1,915) (1,915)

(68,167) 0 613,505

Vacancy Loss Collection Loss RESIDENTIAL EFFECTIVE GROSS

Deferred Developer Fee Investor Services Fee Partnership Administration Fee MHSA Administrative Fee ADJUSTED CASH FLOW Cumulative Cash Flow Share

1 307,032 5,760 368,880 681,672

0 10,300 10,300 (10,300) 0

0 3,090 3,090 (3,090) 0

698,599 376,533 338,371

78,000

(67,219) (3,090) (10,300) (12,257) 3,892 1,977

5.46% 1.24 (241,613) 96,757

338,371

(72,450) (53,714) (9,000) 298,774

0 0 433,938

305,532 0 128,406 433,938

(376,533) (17,369) (165,240) (30,000) 39,597

(69,860) 0 628,739

2 314,708 5,789 378,102 698,599

0 10,609 10,609 (10,609) 0

0 3,183 3,183 (3,183) 0

715,948 389,712 344,612

117,000

(67,219) (3,183) (10,609) (12,257) 9,731 11,708

5.46% 1.27 (241,613) 102,999

344,612

(74,986) (54,789) (9,000) 306,232

0 0 445,006

313,170 0 131,836 445,006

(389,712) (17,716) (168,545) (30,000) 38,380

(71,595) 0 644,353

3 322,575 5,818 387,555 715,948

0 10,927 10,927 (10,927) 0

0 3,278 3,278 (3,278) 0

733,730 403,352 350,894

156,000

(67,219) (3,278) (10,927) (12,257) 15,600 27,308

5.46% 1.30 (241,613) 109,281

350,894

(77,610) (55,884) (9,000) 313,875

0 0 456,369

321,000 0 135,370 456,369

(403,352) (18,071) (171,916) (30,000) 37,019

(73,373) 0 660,357

4 330,640 5,847 397,243 733,730

0 11,255 11,255 (11,255) 0

0 3,377 3,377 (3,377) 0

751,956 417,469 357,214

195,000

(67,219) (3,377) (11,255) (12,257) 21,494 48,802

5.46% 1.33 (241,613) 115,601

357,214

(80,327) (57,002) (9,000) 321,708

0 0 468,037

329,025 0 139,012 468,037

(417,469) (18,432) (175,354) (30,000) 35,506

(75,196) 0 676,761

5 338,906 5,876 407,174 751,956

0 11,593 11,593 (11,593) 0

0 3,478 3,478 (3,478) 0

770,638 432,080 363,568

234,000

(67,219) (3,478) (11,593) (12,257) 27,409 76,210

5.46% 1.36 (241,613) 121,955

363,568

(83,138) (58,142) (9,000) 329,736

0 0 480,016

337,250 0 142,766 480,016

(432,080) (18,801) (178,861) (30,000) 33,832

(77,064) 0 693,574

6 347,379 5,905 417,354 770,638

Xipe Totec 345 Fickett Ave Los Angeles, CA. 90033 Randy, Ara, Dennis, Daisy, Carlos, Brandon, Gustavo Rent Inflation 2.5% Conventional Loan Amount Other Income Inflation 0.5% Principal @ end of yr. 15 Residential Vacancy Loss % 10.0% Principal @ end of yr. 30 Retail Vacancy Loss % 10.0% Collection Loss % 0.0% Operating Expense Inflation 3.5% Conventional Loan Term Property Tax Inflation 2.0% Initial Debt Ser.Cov. Ratio Reserve Inflation 0.0% Supportive services inflation 2.0% Partnership Admin. Fee 10,000 Investor Services Fee 3,000 Years 1-10 Retail Expense Reimbursement (NNN) 95% Years 11-15 MHSA Administrative Fee 0.42% Years 15-30

YEAR Residential Income (Subsidized by Section 8) Other Income (Laundry) Section 8 Project Based Vouchers Additional RESIDENTIAL GROSS INCOME

Project Name Street Address City Developer Team *based on Retail

0 11,941 11,941 (11,941) 0

0 3,582 3,582 (3,582) 0

789,786 447,203 369,953

273,000

(67,219) (3,582) (11,941) (12,257) 33,341 109,552

5.46% 1.40 (241,613) 128,340

369,953

(86,048) (59,305) (9,000) 337,964

0 0 492,316

345,681 0 146,635 492,316

(447,203) (19,177) (182,438) (30,000) 31,989

(78,979) 0 710,807

7 356,063 5,935 427,788 789,786

0 12,299 12,299 (12,299) 0

0 3,690 3,690 (3,690) 0

809,412 462,855 376,364

312,000

(67,219) (3,690) (12,299) (12,257) 39,287 148,839

5.46% 1.43 (241,613) 134,751

376,364

(89,060) (60,491) (9,000) 346,396

0 0 504,946

354,323 0 150,623 504,946

(462,855) (19,560) (186,087) (30,000) 29,968

(80,941) 0 728,470

8 364,965 5,965 438,482 809,412

Int. Rate Annual pmt 5.46% (241,613) 5.46% (241,613) 5.46% (241,613)

30 1.20

3,578,044 2,507,287 83,070

0 12,668 12,668 (12,668) 0

0 3,800 3,800 (3,800) 0

829,528 479,055 382,797

351,000

(67,219) (3,800) (12,668) (12,257) 45,240 194,079

5.46% 1.47 (241,613) 141,184

382,797

(92,177) (61,701) (9,000) 355,038

0 0 517,915

363,182 0 154,734 517,915

(479,055) (19,951) (189,809) (30,000) 27,759

(82,953) 0 746,575

9 374,089 5,994 449,444 829,528

2.71% 10 Yr. avg

Rep. Resrv

0 13,048 13,048 (13,048) 0

0 3,914 3,914 (3,914) 0

850,146 495,822 389,248

390,000

(67,219) (3,914) (13,048) (12,257) 51,197 245,276

5.46% 1.51 (241,613) 147,635

389,248

(95,403) (62,935) (9,000) 363,894

0 0 531,232

372,261 0 158,971 531,232

(495,822) (20,351) (193,605) (30,000) 25,354

(85,015) 0 765,131

10 383,441 6,024 460,681 850,146

2.75% Bank total

0 13,439 13,439 (13,439) 0

0 4,032 4,032 (4,032) 0

871,279 513,176 341,221

429,000

(67,219) (4,032) (13,439) (12,257) 2,661 247,938

5.46% 1.32 (241,613) 99,608

341,221

(98,742) (64,193) (9,000) 318,480

(54,491) 0 490,416

381,568 0 163,339 544,906

(513,176) (20,758) (197,477) (30,000) 22,741

(87,128) 0 784,151

11 393,027 6,055 472,198 871,279

Cushion 5.46%

No. of Units 60 Total /unit 30,000 500

0 13,842 13,842 (13,842) 0

0 4,153 4,153 (4,153) 0

892,940 531,137 346,288

468,000

(67,219) (4,153) (13,842) (12,257) 7,204 255,142

5.46% 1.35 (241,613) 104,675

346,288

(102,198) (65,477) (9,000) 326,378

(55,895) 0 503,053

391,107 0 167,841 558,948

(531,137) (21,173) (201,427) (30,000) 19,910

(89,294) 0 803,646

12 402,853 6,085 484,003 892,940

0 14,258 14,258 (14,258) 0

0 4,277 4,277 (4,277) 0

915,142 549,727 351,319

507,000

(67,219) (4,277) (14,258) (12,257) 11,696 266,837

5.46% 1.38 (241,613) 109,706

351,319

(105,775) (66,787) (9,000) 334,470

(57,337) 0 516,031

400,884 0 172,484 573,368

(549,727) (21,596) (205,455) (30,000) 16,849

(91,514) 0 823,628

13 412,924 6,115 496,103 915,142

0 14,685 14,685 (14,685) 0

0 4,406 4,406 (4,406) 0

937,898 568,967 356,308

546,000

(67,219) (4,406) (14,685) (12,257) 16,128 282,965

5.46% 1.42 (241,613) 114,695

356,308

(109,477) (68,123) (9,000) 342,759

(58,818) 0 529,359

410,907 0 177,270 588,176

(568,967) (22,028) (209,564) (30,000) 13,549

(93,790) 0 844,108

14 423,247 6,146 508,505 937,898

0 15,126 15,126 (15,126) 0

0 4,538 4,538 (4,538) 0

961,223 588,881 361,246

585,000

(67,219) (4,538) (15,126) (12,257) 20,494 303,459

5.46% 1.45 (241,613) 119,633

361,246

(113,309) (69,485) (9,000) 351,251

(60,338) 0 543,045

421,179 0 182,204 603,383

(588,881) (22,469) (213,756) (30,000) 9,995

(96,122) 0 865,100

15 433,828 6,177 521,218 961,223

XIPE TOTEC | DEVELOPMENT PROPOSAL

Holly Benson Vice President, Housing Development Holly Benson is vice president of housing development responsible for the financial packaging and development of Abode Communitiesâ&#x20AC;&#x2122; affordable housing projects. She is instrumental in the identification of funding sources, negotiation of investment terms, the selection and management of development contracts, the syndication of low-income housing tax credits, and ultimately, the training and supervision of the project management staff. Benson is particularly skilled at consulting with local community groups and governmental entities to educate and inform neighboring communities about the composition and structure of affordable housing programs and benefits to communities at large. Benson has nearly 12 years of affordable housing experience and has overseen the development of more than 700 affordable housing units and secured an estimated $150 million in loans, grants and equity from both private and public sources. Prior to joining Abode Communities, she served as a housing developer at Mercy Housing California responsible for all facets of project management, as well as investigating opportunities for future affordable housing sites. With County of Orange Housing and Community Development Department, Benson was responsible for underwriting and recommending loans to affordable housing developers, as well as shaping the Countyâ&#x20AC;&#x2122;s community policies. Benson received a Bachelor of Arts in Communication Studies from the University of California, Los Angeles.

Joan Ling Joan Ling is a real estate advisor and policy analyst in urban planning. She brings 30 years of experience in the public, private and non-profit sectors: she has worked as an affordable housing developer, property manager, real estate financial analyst, government loan underwriter, and community planner. Ms. Ling has taken about 60 development projects (1,400 units) from acquisition through entitlement, financing, construction, marketing, and building operations. Ms Ling served as the Executive Director of Community Corporation of Santa Monica for 20 years. Her previous employers include the Los Angeles County Community Development Commission, Kotin, Regan, and Mouchly, Inc. and The Planning Group. She was the Treasurer of the Community Redevelopment Agency of Los Angeles City for over six years before the dissolution of redevelopment in February 2012. She is a director on the Housing California board and the chair of its Land Use and Finance Committee. In addition, she serves on the MoveLA Advisory Board. Ms. Ling is a Phi Beta Kappa graduate of Chatham College in Pennsylvania and received her M.A. degree from the UCLA Urban Planning Department. She also holds a certificate from Harvard Kennedy School of Government after completing an 18-month program in Achieving Excellence in Community Development. Fannie Mae Foundation honored her as a National James A. Johnson Fellow. She teaches real estate, housing and planning courses at the university level. 41

XIPE TOTEC | DEVELOPMENT PROPOSAL

Gustavo De Haro is a Master’s candidate of UCLA’s Urban and Regional Planning program specializing

in Design and Development. Currently he is working as the UCLA Urban Planning Outreach Coordinator charged with a focus on recruitment and diversity in the Urban Planning graduate program. He holds a Bachelor’s degree in Psychology from UCLA and has an extensive background in public sector labor and community organizing within the Southern California region and the New York state area. His primary research focus and training centers on the process of equitable development and affordable housing within the Southern California region and Baja California, Mexico.

Randy Mai is a graduate student in Urban and Regional Planning at UCLA’s Luskin School of Public

Affairs. His concentration is Housing. He holds a Bachelors of Arts degree in Asian American Studies, Asian Languages and Culture, and Urban and Regional Studies from UCLA. He has worked with the City of LA’s Human Relations Commission, East Los Angeles Community Corporation, Service Employees International Union - United Long Term Care Workers, the Mayor’s Office of Economic Development under the Minority Business Development Agency and the Planning and Housing Team, and most recently Genesis LA, a Community Development Entity. At UCLA, he is the Community Development and Social Justice (CDSJ) Coordinator, where he works with a group of 10 undergraduate students who want to pursue professional degrees in Public Policy, Urban Planning, Social Welfare, and Public Health. He teaches a course on graduate school preparation and conducting applied qualitative research in professional fields.

Daisy Miguel is a UCLA Master’s of Urban and Regional Planning graduate student focusing on

Transportation and Housing. She is currently working as an Assistant Program Manager at Los Angeles Neighborhood Initiative (LANI) where she has been primarily responsible for working oneon-one with property owners to renew the Byzantine Latino Quarter Business Improvement District. Previously, Daisy was working with the Los Angeles Planning Department, North Valley Division on the Sylmar Community Plan update. She received her bachelor’s degree from the University of California, San Diego where she studied Urban Studies and Planning and American Politics. In her spare time, Daisy likes to go on long bike rides, sit by a windowsill and read books and travel to new places.

Carlos Hernandez is a UCLA Master’s of Urban and Regional Planning graduate student focusing on

Design/Development. He is currently a program director with Kounkuey Design Initiative, a non-profit design/build organization. His background experience includes participatory community design, informal housing research, and development of bicycle programs throughout Southern California. He received his bachelor’s degree from California State University, Northridge where he studied Urban Planning. In his spare time, Carlos enjoys playing music, welding, and Muay Thai kickboxing.

XIPE TOTEC | DEVELOPMENT PROPOSAL

Ara Kim is currently a UCLA Urban Planning Master’s student with a concentration in Community

Economic Development and Housing. She is currently working at Abode Communities as a Project Management Associate. Ara holds a Bachelors degree from California Polytechnic University San Luis Obispo in History, with minors in Women’s and Gender Studies and English. Previously, Ara has worked in organizing, research and advocacy with labor, community and advocacy organizations including Restaurant Opportunities Center of Los Angeles, Strategic Actions for a Just Economy and PolicyLink. Dennis Maravilla is a UCLA Master’s of Urban and Regional Planning graduate student focusing on Community Economic Development and Housing. He holds a Bachelor of Science in Geographic Information Systems from the University of Maryland. His interests include economic development, affordable housing, mixed-use development, construction and analyzing geospatial data. He has worked with the US Census Bureau, United States Coast Guard’s Chief Office of Civil Engineering, and various real estate development firms in building mixed use and education facilities. He enjoys traveling, exploring the golden state, participating in races and mentoring youth.

Brandon Harper is a UCLA Master’s of Architecture and Urban Design graduate student focused

on design and development. Currently his research includes 3D printing and space travel design. He holds a Bachelor of Arts in Architectural studies and a minor in Geography and Environmental Studies from UCLA. He has worked with numerous LA designers and helped build a family run vacation rental business in the US and central america. He enjoys sailing, kite surfing, salsa dancing and trying to speak as many languages as possible while failing miserably.

XIPE TOTEC | DEVELOPMENT PROPOSAL

Project NameXipe Totec Street Address345 Fickett Ave City Los Angeles, CA. 90033 Developer Team Randy, Ara, Dennis, Daisy, Carlos, Brandon, Gustavo Number of Units

60 42,662 27,962 21,471 -

Gross Land Area (sf) Gross Building Area Residential Gross Non-Residential Area (retail + parking sf) Gross Community Room (included in Gross Bldg Area)

Actual Actual Estimated Estimated Estimated

67%

of project

33%

of project

$ PER SF

TOTAL BUDGET

Retail

Residential

$ / RES UNIT

*apply 67% for residential

(res.)

$ PER SF

% OF

BUILDING

LAND

TDC

COMMENTS

Predevelop.

9% Eligible

9% Ineligible

Total

Pre-Dev

Costs

Basis

10.00%

0.00%

10.00%

0.00%

10.00%

0.00%

10.00%

0.00%

ACQUISITION

Land Cost Purchase Appraisal Closing Cost Holding Costs

2,227,757 22,278 18,000 2,268,034 2,268,034

733,170 7,332 5,924 746,425

1,494,587 14,946 12,076 1,521,609

37,129 371 300 37,801

79.67 0.80 0.64 81.11

52.22 0.52 0.42 53.16

0.140 0.001 0.001 0.142

Environmental Abatement 5,655,039 Residential Construction (structures, parking, p. wage) Residential Construction (Location Factor) 424,128 Retail Construction (structures, parking, p. wage) 2,709,867 Retail Construction (Location Factor) 158,076 LEED Certified Materials 178,942 Hard Cost/Construction Contingency 456,303

2,709,867 158,076 58,891 146,342

5,655,039 424,128 120,051 309,961

94,251 7,069 45,164 2,635 2,982 7,605

202.24 15.17 96.91 5.65 6.40 16.32

132.55 9.94 63.52 3.71 4.19 10.70

0.355 0.027 0.170 0.010 0.011 0.029

3,073,175

6,509,179

159,706

342.69

224.61

0.601

4,278 16,455 14,810 21,392 23,037

8,722 33,545 30,190 43,608 46,963

217 833 750 1,083 1,167

0.46 1.79 1.61 2.32 2.50

0.30 1.17 1.05 1.52 1.64

0.001 Methane Test Consultants (Taken from HPW Environmental Consultants) 13,000 Included in Construction Costs Included in Construction Costs Included in Construction Costs 0.003 Estimate 0.003 14,850 0.004 Faculty Advisor Estimate 0.004 Faculty Advisor Estimate 12,355

243,000 243,000

79,973

163,027

4,050

8.69

5.70

0.015

450,925 93,943 45,000 35,618 625,486 625,486

148,402 30,917 14,810 35,618 229,748

302,522 63,026 30,190 395,738

7,515 1,566 750 594 10,425

16.13 3.36 1.61 1.27 22.37

10.57 2.20 1.05 0.83 14.66

0.028 0.006 0.003 0.002 0.039

LEGAL FEES Lender Legal Costs paid by Applicant Real Estate Legal Syndication Legal Other Legal SUBTOTAL: LEGAL FEES

70,000 45,000 60,000 175,000

23,037 14,810 19,746 57,594

46,963 30,190 40,254 117,406

1,167 750 1,000 2,917

2.50 1.61 2.15 6.26

1.64 1.05 1.41 4.10

0.004 Includes NMTC legal fees; Faculty Advisor Esimate 0.003 Faculty Advisor Estimate 0.004 Investor legal costs 0.011

RESERVES Capitalized Replacement Reserve Capitalized Operating Reserve Other Reserves SUBTOTAL: RESERVES

328,204 328,204

5,470 5,470

11.74 11.74

7.69 7.69

0.021 Estimate 0.021

SUBTOTAL: ACQUISITION

Estimate Paid for by City 1% of Land Calculated to be about .1% of TDC

222,776 2,228 1,800 226,803

2,227,757 22,278 18,000 2,268,034

Eligible

CONSTRUCTION

SUBTOTAL: HARD COSTS

9,582,354 9,582,354

Included See Hard Cost Page See Hard Cost Page See Hard Cost Page See Hard Cost Page Developer Advisor's Architect Estimate: 2% of HC 5% of hard costs; O&P and GC included in construction

5,655,039 424,128 120,051 306,130

2,709,867 158,076 58,891 150,172

5,655,039 424,128 2,709,867 158,076 178,942 456,303

6,505,348

3,077,006

9,582,354

8,722 33,545 30,190 43,608 46,963

4,278 16,455 14,810 21,392 23,037

13,000 50,000 45,000 65,000 70,000

40,205

163,027

79,973

243,000

302,522 63,026 15,095 380,643

148,402 30,917 29,905 35,618 244,843

450,925 93,943 45,000 35,618 625,486

45,000 45,000

3,131 4,529 7,660

66,869 40,471 60,000 167,340

70,000 45,000 60,000 175,000

328,204 328,204

100.00%

0.00%

100.00%

0.00%

100.00%

0.00%

67.09%

0.00%

67.09%

100.00%

67.09%

80.00%

67.09%

0.00%

67.09%

SOFT COSTS

TECHNICAL CONSULTANTS Environmental Consultants Architect MEP Engineer Structural and Civil Engineer LEED Consultant Surveyor, Utilities, Geotech, Other Deputy Inspector Construction Manager

13,000 50,000 45,000 65,000 70,000

SUBTOTAL: TECHNICAL CONSULTANTS FINANCING INTEREST & FEES Predevelopment Interest Reserve Predevelopment Lender Fees Construction Interest Reserve Construction Lender Fees Title & Recording (all lenders) Permanent Lender Fees NMTC Fee Reserves NMTC Closing Costs SUBTOTAL: FINANCING INTEREST & FEES

OTHER SOFT COSTS Developer Fee -- Construction Period Portion Developer Fee -- Permanent Period Portion TCAC Application/Allocation/Monitoring Fees Local Permits and Fees Local Development Impact Fees Security Marketing Lease-Up Tenant Imrovements Accounting / Audit Administrative and Organizational Market Study Real Estate Taxes Liability Insurance All Risk Insurance SUBTOTAL: OTHER SOFT COSTS

Not taking a Predevelopment Loan Not taking a Predevelopment Loan

1,495,925 62,360 200,000 340,000 50,000 3,600 30,000 100,000 18,000 14,000 5,500 69,689 26,000 100,000 2,515,075

95,925 65,821 16,455 1,185 100,000 5,924 4,607 1,810 22,935 8,557 32,911 356,131

1,400,000 62,360 134,179 340,000 33,545 2,415 30,000 12,076 9,393 3,690 46,754 17,443 67,089 2,158,944

24,932 1,039 3,333 5,667 833 60 500 1,667 300 233 92 1,161 433 1,667 41,918

53.50 2.23 7.15 12.16 1.79 0.13 1.07 3.58 0.64 0.50 0.20 2.49 0.93 3.58 89.94

35.06 1.46 4.69 7.97 1.17 0.08 0.70 2.34 0.42 0.33 0.13 1.63 0.61 2.34 58.95

0.094 0.004 0.013 0.021 0.003 0.000 0.002 0.006 0.001 0.001 0.000 0.004 0.002 0.006 0.158

$23333 per unit

SUBTOTAL: SOFT COSTS

3,886,764

723,445

3,163,319

64,779

139.00

91.11

0.244

SOFT COST CONTINGENCY

194,338 4,081,103

36,172 759,617

158,166 3,321,485

3,239 68,018

6.95 145.95

4.56 95.66

0.012 5.00% of soft costs 0.256

Faculty Advisor Estimate Estimate from ELACC Faculty Advisor Estimate Advertising, Community Outreach $500 per unit *Retail Improvements Faculty Advisor Estimate Faculty Advisor Estimate Estimate Faculty Advisor Estimate Faculty Advisor Estimate Faculty Advisor Estimate

Verification only TOTAL SOFT COSTS

25.6% of TDC

Verification only TOTAL DEVELOPMENT COST

Permanent Portion of Developer Fee Deferred Developer Fee Capitalized Reserves TOTAL -- CONSTRUCTION PERIOD ONLY

Predevelopment Interest Reserve Assumptions Index Spread Margin Total Int. Rate # of Months Avg O/S Balance Loan Amount Interest Reserve Construction Interest Reserve Assumptions Index Spread Margin Total Int. Rate # of Months Avg O/S Balance Loan Amount Interest Reserve TCAC Fees (Section 10335 of Regs) (a) Application fee (b) Allocation fee ( c) Appeal fee (d) Reservation fee (e) Performance deposit (f) Monitoring fee TOTAL

15,931,491

4,579,218

11,352,273

265,525

569.75

373.44

(1,008,283) (328,204) 14,595,004

4,579,218

(1,008,283) (328,204) 10,015,786

(16,805) (5,470) 243,250 ok

(36.06) (11.74) 521.95

(23.63) (7.69) 342.11

1.000 (0.063) Deferred until C of O (0.021) 0.916 TDC - (2/3 dev. Fee +cap. reserves)

493,655 62,360 200,000 340,000 14,000 5,500 18,119 1,133,635 45.1% 1,218,840 31.4% 58,301 1,277,142 30.0% 1,503,945

1,495,925 62,360 134,179 340,000 33,545 30,000 5,636 3,690 46,754 17,443 67,089 2,236,621 88.9% 2,787,951 71.7% 39,114 2,827,065 20.1% 9,332,414

65,821 16,455 3,600 100,000 18,000 8,364 1,810 22,935 8,557 32,911 278,454

1,495,925 62,360 200,000 340,000 50,000 3,600 30,000 100,000 18,000 14,000 5,500 69,689 26,000 100,000 2,515,075

1,098,814 28.3% 155,224 1,254,038 79.9% 6,599,078

3,886,764

1,503,945

(302,485) 9,029,929

(705,798) (328,204) 5,565,077

194,338 4,081,103

0.00%

67.09%

0.00%

67.09%

33.00%

67.09%

0.00%

67.09%

17.65%

67.09%

0.00%

67.09%

0.00%

67.09%

0.00%

67.09%

0.00%

67.09%

0.00%

33.54%

0.00%

4.47%

100.00%

10.06%

0.00%

50.00%

0.00%

33.00%

100.00%

33.00%

100.00%

67.09%

100.00%

0.00%

67.09%

0.00%

100.00%

0.00%

100.00%

40.25%

100.00%

67.09%

26.00%

67.09%

0.00%

67.09%

0.00%

67.09%

30.00%

20.13%

0.00%

30.00%

0.00%

15,931,491

(1,008,283) (328,204) 14,595,004 ok

Notes 0.15% Bankrate.com LIBOR 04/10/14 5.00% Estimate 0.00% 5.15% 16 60% -

0.00% 0.00% 6.00% 6.00% 16 60% 9,394,269 450,925

1,016 30,672 30,672 62,360 766805.8103

Real Estate Tax Calculation LIBOR + 200% Basis Points Estimate (some cushion) (some cushion)

Retail TDC assessments

Residential 4,579,218 1.15%

Real Estate Subtotal

52,661.01

Total

69,689.42

11,352,273 0.15% 17,028.41

(1 applications) 4% of first year's Federal Credit (Non-Refundable) MUST MANUALLY INPUT THIS NUMBER N/A N/A to 9% projects 4% of first year's Federal Credit (Refundable) $410 per unit (covered by performance deposit)

30,672

XIPE TOTEC | DEVELOPMENT PROPOSAL

Project Name Street Address City Developer Team

Xipe Totec No. of Units % Retail % Residential 345 Fickett Ave 60 32.9% 67.1% Los Angeles, CA. 90033 Randy, Ara, Dennis, Daisy, Carlos, Brandon, Gustavo

NMTC Assumptions Allocation CDE to be determined Total Allocation Gross Equity Total Credits Generated Price Per Credit Total Investor Equity

5,150,000 5,150,000.00

39.00%

Required Leverage Loan Amount CDE Upfront Fees CDE to be determined Total CDE Upfront Fees

*USBank approved

4,579,218 Retail TDC

2,008,500.00 0.83 1,667,055.00 3,482,945.00

3.00%

QLICI Loan B - NMTC Equity

154,500.00 154,500.00 1,512,555.00

Annual Fees CDE Asset Mgmt Fees Total Annual CDE Asset Mgmt Fees Other USB & Third-Party Fees CDE Annual Tax/Audit Costs Management Fee Total Annual Other USB & Third-Party Fees Total Annual Fees over Compliance Period

NMTC NET BENEFIT QLICI B less: NMTC Fee Reserves less: NMTC Closing Costs Net Benefit Net Benefit as % of Allocation Net Benefit Goal

%QEI 0.35%

18,025.00 x7 years 18,025.00

12,000.00 x7 years 5,000.00 x7 years 17,000.00 245,175.00

1,512,555 245,175 250,000 1,017,380 19.75% 20.00%

XIPE TOTEC | DEVELOPMENT PROPOSAL

Project Name Street Address City Developer Team

Xipe Totec No. of Units % Retail % Residential 345 Fickett Ave 60 32.9% 67.1% Los Angeles, CA. 90033 Randy, Ara, Dennis, Daisy, Carlos, Brandon, Gustavo

Assessor's Office Recently Sold Properties Address Zoning Type Price Sq Ft Price per SqFt Sold Date Boyle Hotel Apartments Commercial $3,314,444 62,045 Sq.ft. $53.42 8/10/12 1000ft 323 N SOTO ST LOS ANGELES CA 90033 Commercial $291,000 7,000 Sq.ft. $41.57 11/13/13 1000ft Average $3,605,444 69,045 Sq.ft. $52.22 Estimated 42,662 Sq.ft. $2,227,756.50 Project

Residential Retail

5175-‐010-‐020

Portion of Development Land Cost 67.1% $1,494,587 32.9% $733,170

XIPE TOTEC | DEVELOPMENT PROPOSAL

Project Name Street Address City Developer Team

Xipe Totec 345 Fickett Ave Los Angeles, CA. 90033 Randy, Ara, Dennis, Daisy, Carlos, Brandon, Gustavo

RESIDENTIAL BREAKDOWN/SUMARY % of Units AMI TCAC Points 97.5% of units at 30% 3.5% of units at 100% Total Points

TCAC Required 50 0 52

Density Bonus Req AMI 11% of units at or below

59 of units

NOTES 50% 60 44 5

*Max 52 points

*off of the base units units w/ density bonus base units units at or below 50% AMI

*extra 2 points for 30% AMI

AMI GROSS RENT (TCAC) No. of Units Rents Utility Allowance NET RENT 30% 58 $428 $38 $390 100% 2 $1,528 $45 $1,483 Total 60 *As per Section 8, 30% AMI tenants pay 30% of bill

SRO 50%

7 *30%, so we meet Density Bonus

Density Bonus Gross Rents SRO 50% Income meets Density Bonus Req's?

$567 YES, at 30%

TOTAL RENTS AMI 30% 100% Rent/Month Months Annual Rent

Rent/Mo Rent/Yr $22,620 $271,440 $2,966 $35,592 $25,586 12 $307,032

$307,032

RENT LAUNDRY ANNUAL INCOME

Per Unit Varies $8 per unit

Amount FMR $428

$958

PBV (FMR - Gross) No. of Units $530

58 58

$2,316

Monthly PBV Annual PBV $30,740

MAXIMUM RENTS - CTCAC for Los Angeles County 2014 applicable to tax credit and tax exempt bond projects: LOS ANGELES Efficiency 1BR 2BR 3BR 4BR 5BR 100% Income Level $1,426 $1,528 $1,834 $2,120 $2,364 60% Income Level $856 $917 $1,101 $1,272 $1,419 55% Income Level $785 $840 $1,009 $1,166 $1,300 50% Income Level $713 $764 $917 $1,060 $1,182 45% Income Level $642 $687 $825 $954 $1,064 40% Income Level $571 $611 $734 $848 $946 35% Income Level $499 $535 $642 $742 $827 30% Income Level $428 $458 $550 $636 $709 MAXIMUM RENTS - State Density Bonus Legislation as applied to Los Angeles County 2013 Efficiency 1BR 2BR 3BR 4BR $1,134 $1,296 $1,458 $1,620 100% Income Level $680 $778 $875 $972 60% Income Level $624 $713 $802 $891 55% Income Level $567 $648 $729 $810 50% Income Level $510 $583 $656 $729 45% Income Level $454 $518 $583 $648 40% Income Level $397 $454 $510 $567 35% Income Level $340 $389 $437 $486 30% Income Level Minimum set aside for 35% density bonus: NOTE special condition in density bonus law: Density bonus legislation:

Heating Cooking Water Heating Total Utility Allowance

Annual $307,032 $5,760 $312,792

$307,032

Section 8 Project Based Vouchers (PBV) - Voucher Payment Standards (VPS) HACLA Los Angeles 0BR 1BR 2BR 3BR 4BR Fair Market Rents 2014 $958 $1,156 $1,443 $1,939

Gross Rents - 30%

Monthly $25,586 $480

Natural Gas Natural Gas Other Elec Natural Gas

$368,880 $368,880

$2,608 $1,565 $1,434 $1,304 $1,173 $1,043 $913 $782

5BR $1,750 $1,050 $962 $875 $787 $700 $612 $525

20% at 60% of AMI (lower) or 11% at 50% of AMI (very low). Income limits are 20% at 80% of AMI, but rents are set at 60% of AMI. CA Government code 65915-18.

SRO 5 1 9 23 38

UTILITY ALLOWANCES HOUSING AUTHORITY SCHEDULE (12-1-13) 1 2 12 2 13 18 45 -

3 -

4 Allowance (Yes or No) Yes Yes Yes Yes

Notes Tenant: Individually metered Tenant: Individually metered Tenant: Individually metered Tenant: Individually metered

RETAIL Youth Center Medical Clinic Total

Unit Size No. of Units 3,920 sq.ft. 6,800 sq.ft.

1 1

Total Size $/SF 3,920 sq.ft. 6,800 sq.ft. 10,720 sq.ft.

$2.00 $2.50 $2.32

Monthly Rent Annual Rent $7,840 $17,000 $24,840

$94,080 $204,000 $298,080

XIPE TOTEC | DEVELOPMENT PROPOSAL

9% TAX CREDIT EQUITY

130% 100% 7.59% 10 99.99% 1.10

7,771,418 10,102,843 10,102,843 766,806 7,668,058 7,667,291 $8,434,020

# Units 58 2 0 0 0 60

Basis x # Units $9,541,406 $379,350 $0 $0 $0 $9,920,756

Lesser of Total Adjusted Threshold Basis Limit or Total Depreciable Basis High Cost Area Adjustment Applicable Fraction x Tax Credit Rate x # of years Limited Partner Percentage x Price per Credit

Lesser of Total Requested Ineligible Basis or Threshold Basis "Adjusted Eligible Basis" "Qualified Basis" Annual Tax Credits: required in application "Credits Allocated" "Gross Equity" 26 months after construction start

2014 9% THRESHOLD BASIS LIMIT (with elevator)

Unit Type 0 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom 2013 THRESHOLD BASIS LIMIT INCREASES (TCAC Regs. Section 10327(c)(5))

per Unit Basis Limit $164,507 $189,675 $228,800 $292,864 $326,269

Threshold Basis Limit

*Max 39% increase

Increase for state or federal prevailing wages

20.00%

Increase for underground parking

0.00%

Increase for day care center

0.00%

Increase if 100% of units for special needs population

0.00%

Additional % when elevator serves 95% of upper story units

10.00%

Increase for energy efficiency/resource conservation/indoor air quality items

9.00%

Include Local Development Impact Fees

N/A

Increase for energy/resource conservation/indoor quality items

0.00%

Voluntary Credit Reduction Total Requested Unadjusted Eligible Basis Eligible Basis per Development Costs Spreadsheet

$1,984,151 $0 $0 $0 $992,076 $892,868 $340,000 $0 $14,129,851 -$6,358,433 $7,771,418 $9,332,414

45.00% Credit Reduction per TCAC App: -$4,797,437

XIPE TOTEC | DEVELOPMENT PROPOSAL Operating Expenses Project Name Street Address City Developer Team RESIDENTIAL 1. MANAGEMENT a. Contract Management Fee TOTAL MANAGEMENT 2. ADMINISTRATION a. Marketing b. Audit c. Legal d. Office Expenses (Permits, Bank Charges, Office Supplies, Printing, Copies, Meetings, Training) TOTAL ADMINISTRATION 3. SALARIES AND BENEFITS a. On-Site Manager & Assistant On-Site Manager b. Maintenance Personnel c. Payroll Taxes, Ins., Worker's Comp. TOTAL SALARIES 4. MAINTENANCE a. Supplies b. Repairs Contract (O/S Contractors, Security, Elevator, Fire, Drain) c. Pest Control (Including Fumigation) d. Grounds Contract e. Interior Painting f. Unit Preparation TOTAL MAINTENANCE 5. UTILITIES NOT PAID BY TENANTS a. Trash Removal b. Electricity c. Water/Sewer d. Gas TOTAL UTILITIES 6. INSURANCE a. Property & Liability Insurance TOTAL INSURANCE 7. OTHER a. Partnership Filing Fee b. Bookkeeping Fee TOTAL OTHER

Xipe Totec 345 Fickett Ave 60 Total No. of Units Los Angeles, CA. 90033 Randy, Ara, Dennis, Daisy, Carlos, Brandon, Gustavo ANNUAL

MONTHLY

PUPY

47,520 47,520

3,960 3,960 ok

792 792

3,600 10,000 2,880 2,880

300 833 240 240

19,360

1,613 ok

100,080 36,000 2,160 138,240

8,340 3,000 180 11,520 ok

1,668 600 36 2,304 ok

139 139/ unit / month 50 50/ unit / month 3 3/ unit / month 192 ok

7,200 21,600

600 1,800

120 360

2,160 21,600 4,320 8,640 65,520

180 1,800 360 720 5,460 ok

36 360 72 144 1,092 ok

900 900 1,860 600 4,260 ok

180 180 372 120 852

10,800 10,800 22,320 7,200 51,120

28,800 28,800

1,000 12,240 13,240

TOTAL OPERATING EXPENSES

363,800

8. TAXES a. Special Assessment Fee TOTAL TAXES

17,028 17,028

9. Replacement Reserve TOTAL RESERVES

30,000 30,000

10. Supportive Services a. Support Services Case Manager b. Employment/Education Specialist c. Mental Health Counselors TOTAL SUPPORTIVE SERVICES

PUPM

COMMENTS

66 66 / unit / month 66 ok

60 166.67 48 48

5 14 4 4

323

5/ unit / month $10000/ yr 4/ unit / month 4/ unit / month

10 10/ unit / month 30 30/ unit / month 3 30 6 12 91

3/ unit / month 30/ unit / month 6/ unit / month 12/ unit / month

15 15 31 10 71

15/ unit / month paid by landlord 15/ unit / month paid by landlord 31/ unit / month paid by landlord 10/ unit / month paid by landlord

2,400 2,400 ok

480 480

40 40/ unit / month 40

83 1,020 1,103 ok 30,317 ok

16.67 204 221 ok 6,063 ok

ok 505 ok

1,419 1,419 ok 2,500 2,500 ok

284 284

24 24

1 $1000/ yr 17 17/ unit / month 18 TCAC minimum of $3400 / unit

Estimate

ok 500 500

42 $500 Note: TCAC requires min of $300 pupy 42 ok

9,000 1,800 150 *TCAC Min is 1, paying for 2; Additional 3 (Jovenes @ 1 & UCLA MSW @ 2) Jovenes provide 1 4,500 900 75 *TCAC Min is 1 13,500 2,700 225 ok ok ok Note: See Rent Sheet for Gas Utility Payment responsibility. Landlord pays for house electricity, water, sewer, trash, and internet.

RETAIL EXPENSES 1. MANAGEMENT TOTAL MANAGEMENT 2. ADMINISTRATION TOTAL ADMINISTRATION

108,000 54,000 162,000

ANNUAL -

MONTHLY -

SF/Year -

SF/Mo -

COMMENTS *Included in Residential

5,000

417

0.47

0.04

Estimate

3. MAINTENANCE TOTAL MAINTENANCE

40,000

3,333

3.73

0.31

Estimate

4. INSURANCE a. Property & Liability Insurance TOTAL INSURANCE

25,000 25,000

2,083 2,083

2.33 2.33

0.19 Estimate 0.19

TOTAL OPERATING EXPENSES

70,000

5,833

6.53

0.54

5. TAXES a. property tax TOTAL TAXES

52,661 52,661

4,388 4,388

4.91 4.91

0.41 0.41

9,000 9,000

750 750

0.84 0.84

0.07 Estimate 0.07

9. Replacement Reserve TOTAL RESERVES

Estimate

XIPE TOTEC | DEVELOPMENT PROPOSAL VII. TIE BREAKER SYSTEM - FINAL TIE BREAKER SELF-SCORE This section is included in the application for self-scoring. Be aware that TCAC will use self scores to determine which projects undergo further review in the competition, including the verification of self scores, for possible reservation of tax credits. TCAC will not verify or evaluate every projectâ&#x20AC;&#x2122;s self score. Projectâ&#x20AC;&#x2122;s that self score too low to successfully compete for a reservation of tax credits will not undergo any further review by TCAC. Provide evidence of committed permanent public funds in Tab 20 and evidence of public subsidies, if any, in Tab 17. Projects with commercial/non-residential costs will have committed public funds discounted by the percentage of the project proposed to be commercial or non-residential. Evidence of land value is required (see Tab 1). The value of the land per TCAC Regulations must be included in "Total residential project development costs" below as evidenced in Tab 1 of the application. Donated land value must be included in Total Project Cost and the Sources and Uses Budget. Final Tie Breaker Formula: Committed permanent public funds defraying residential costs Total residential project development costs

((

Requested unadjusted eligible basis Total residential project development costs

) /3)

((

$7,771,418 $11,352,273

) /3)

Self-Scoring Calculation: $2,918,253 $11,352,273

List individual committed public funding sources, including donations: Tranche B, if applicable (calculate below) $0 LA Department of Mental Health (Capital Subsidy) $2,918,253

The first numerator may include the following permanent funding sources that are not eligible for public funds points under Reg. Section 10325(c)(1)(C): (1) funding contributed by a charitable foundation where a public body appoints a majority of the voting members; and (2) land and improvements contributed by a 501(c) organization as long as the asset was held by the organization for at least 10 years per TCAC Reg. Section 10325(c)(10).

36.221%

$2,918,253 *

TOTAL

For mixed-use projects, the permanent public fund numerator must be discounted/reduced by the mixed-use ratio below. Mixed-use projects: Total commercial cost / Total project cost: 28.7432% THE PRORATED COMMERCIAL COST DEDUCTION TO PUBLIC FUNDS MUST BE CALCULATED FIRST, BEFORE APPLYING ANY SUBSIDY ADJUSTMENT/INCREASE (REGULATION SECTION 10325(c)(10)(A)) TO THE NUMERATOR. TCAC staff may adjust this ratio as deemed appropriate. Sample formula (commercial costs) for numerator Committed permanent public funds defraying residential costs =(F38)*(1-I45)

For projects with public operating or rental subsidies listed in Reg. Section 10325(c)(10)(A), calculate the percentage increase below and increase the permanent public funds numerator by the adjustment percentage. Operating and rental subsidies: % of subsidized units: Subsidy adjustment/increase to permanent public funds numerator 96.6667% 24.1667% (This adjustment is calculated in the numerator after any commercial The number of rental subsidy units and the number of operating subsidy units are cumulative, up to 100%. cost adjustment). Sample formula (subsidies) for numerator Committed permanent public funds defraying residential costs =F38*(1+H53) Sample formula (subsidies and commercial costs) for numerator Committed permanent public funds defraying residential costs =(F38*(1-I45))*(1+H53) Tranche B calculation For purposes of the public funds points section and the final tie breaker, a Tranche B loan is the lesser of the actual commitment amount or the following. Please note, an application must include a private Tranche B loan supported by a public subsidy to utilize this calculation.

Rental Income Differential:

Unit Type SRO 1-bedroom SRO SRO SRO SRO

# of Units 58

Rental Income Differential Less Vacancy Net Rental Income Available for debt service @ 1.15 DSC ratio: Loan term (years) Interest rate (annual) DSC ratio Loan amount per TCAC underwriting standards: Actual Tranche B loan amount:

Rent Limit:

40% AMI (SRO/SpN) OR 50% AMI (ALL OTHER)

Public Subsidy Contract Rent $958

$428

TOTAL

Calculated Annual Rent $368,880 $0 $0 $0 $0 $0 $368,880

$368,880 5.0% $350,436 $304,727 15 6.0% 1.15 $3,009,268 $0

Comments or additional information as necessary:

XIPE TOTEC | DEVELOPMENT PROPOSAL VI. POINTS SYSTEM - SECTION 1: POINTS SYSTEM

A maximum of 20 points shall be available in combining the cost efficiency, credit reduction, and public funds categories.

A. Cost Efficiency/Credit Reduction/Public Funds

Maximum 20 Points

A(1) Cost Efficiency

20 Points

For new construction, at-risk development, or a substantial rehabilitation development where the hard costs of rehabilitation is at least $40,000 per unit.

Make a selection:

New Construction

Projects total eligible basis that is below the maximum calculated threshold basis limits, including permitted adjustments receives 1 point for each full % below the maximum permitted adjusted threshold basis limits. 1) Project's adjusted threshold basis limits: $14,129,851 2) Project's total eligible basis: $9,332,414 3) Difference in threshold basis limits: $4,797,437 4) Calculated percent below adjusted threshold basis limits: 33% (Rounded down to the nearest whole percent) Total Points for Cost Efficiency: A(2) Credit Reduction

20 Points

Credit Reduction: 45% (1 point for each full % that the qualified basis is reduced) 1) Total Qualified Basis: 2) Credit Percent Reduction 3) Total Qualified Basis Reduction (This figure was rounded up to the nearest whole number on the worksheet "Basis & Credits")

Project's Total Adjusted Qualified Basis :

$14,129,851 45% $6,358,433 $7,771,418 Total Points for Credit Reduction:

A(3) Public Funds Section

max 45

20 Points

Total committed funds (including assumptions), fee waivers, or value of donated land 1 point for each full % of Total Development Cost (TDC) including the value of any donations or fee waivers

$2,918,253

Federal, state or local funds

Outstanding principal balances of prior existing public or subsidized debt

IRC 509(a)(1) local community foundation funds --does NOT include charitable foundations Awarded AHP funds Waiver of fees resulting in quantifiable cost savings and not required by federal or state law 3 Land donated by a public entity, or land leased from a public entity

Land donated as part of an inclusionary housing ordinance or other negotiated development agreements

Public contributions of off-site costs

Private "tranche B" loan points value --calculated in "Final Tie Breaker Self-Score" spreadsheet

Total committed funds, fee waivers, or value of donated land: ***Total project cost: Percentage of funds versus TDC:

$2,918,253 $15,931,491 18%

(rounded down)

All loans must be "soft," having terms (or remaining terms) in excess of 15 years, and below market interest rates, interest accruals, or residual receipts payments for at least the first 15 years of their terms. The maximum below-market interest rate allowed for scoring purposes is 4% simple, or the applicable federal rate if compounding. RHS Section 514 and 515 financing is considered soft debt for purposes of scoring under this category. There must be conclusive evidence presented in the application that any new public funds have been firmly committed as stated in Regulation Section 10325(c)(1)(C). Please see also Checklist Items, Tab 1. 2

If the principal balances of prior publicly funded or subsidized loans are to be assumed, documented approval of the loan assumption or other required procedure by the public agency holding the promissory note must be provided. Accrued interest recast as principal under a new loan agreement will not be considered in scoring. See also Checklist Items, Tabs 1 and 20. 3

To receive points in this category, current land and building values must supported by an independent, third party appraisal conducted within 1 year of the tax credit application and otherwise consistent with Regulation Section 10322(h)(9). Donated land value must be included in Total Project Cost and the Sources and Uses Budget. Evidence of land value is required (see Tab 1). 4

Off-site costs must be documented as waived fees pursuant to a nexus study or must be developed by a sponsor as a condition of local approval. Please review Regulation Section 10325(c)(1)(C) for a more complete description of requirements. 5

Private "tranche B" loans underwritten based on rent differentials attributable to rent subsidies. Calculate in Final Tie Breaker Self-Score.

Total Points for Public Funds:

Total Points for Cost Efficiency, Credit Reduction, & Public Funds:

B. General Partner and Management Company Characteristics

Maximum 9 Points

B(1) General Partner Experience General Partner Name:

6 Points

Jovenes Inc. Select from ONE of the following two options: 7 or more projects in service over 3 years (6 Points) Special Needs housing type project opting for 7 project experience category:

Yes

For Special Needs housing type projects applying through the Nonprofit or Special Needs set-asides only: 4 or more Special Needs projects in service over 3 years (6 Points)

XIPE TOTEC | DEVELOPMENT PROPOSAL To qualify for this option, all projects must qualify as Special Needs. To receive points under this subsection for projects in existence for over 3 years from the filing deadline date, the applicant must submit a certification from a 3rd party certified public accountant (CPA) that the projects for which it is requesting points have maintained a positive operating cash flow from typical residential income alone (e.g. rents, rental subsidies, late fees, forfeited deposits, etc.) for the year in which each developmentâ&#x20AC;&#x2122;s last financial statement has been prepared (which must be effective no more than one year prior to the application deadline) and have funded reserves in accordance with the partnership agreement and any applicable loan documents. This certification must list the specific projects for which the points are being requested. The CPA certification may be in the form of an agreed upon procedure report that includes funded reserves as of the report date, which shall be within 60 days of the application deadline. To obtain points for projects previously owned by the proposed general partner, a similar certification must be submitted with respect to the last full year of ownership by the proposed general partner, along with verification of the number of years that the project was owned by that general partner. This certification must list the specific projects for which the points are being requested.

Total Points for General Partner Experience: B(2) Management Company Experience

3 Points

Select from ONE of the following two options: 11 or more projects managed over 3 years (3 Points) Special Needs housing type project opting for 11 project experience category:

Yes

For Special Needs housing type projects applying through the Nonprofit or Special Needs set-asides only: (select one if applicable) To qualify for this option, all projects must qualify as Special Needs.

Management Company Name: Abode Communities Total Points for Management Company Experience:

Points in subsections (A) and (B) above will be awarded in the highest applicable category and are not cumulative. For maximum points in either subsection (A) or (B) above, a completed application attachment for the general partner or for the management agent, respectively, must be provided. For points to be awarded in subsection (B), an enforceable management agreement executed by both parties for the subject application must be submitted at the time of application. "Projects" as used in this subsections (A) and (B) means multifamily, rental, affordable developments of over 10 units that are subject to a recorded regulatory agreement or, in the case of housing on tribal lands, where federal HUD funds have been utilized in affordable rental developments. General Partner and Management Company experience points may be given based on the experience of the principals involved, or on the experience of municipalities or other nonprofit entities that have experience but have formed single-asset entities for each project in which they have participated, notwithstanding that the entity itself would not otherwise be eligible for such points. Alternatively, a management company may receive 2 points if it provides evidence that the management agent assigned to the project, either on-site or with management responsibilities for the site, has been certified, prior to application deadline, by a housing tax credit certification examination by a nationally recognized housing tax credit compliance entity and be on a list maintained by the Committee. These points may substitute for other management company experience but will not be awarded in addition to such points. General partners and management companies with fewer than two active LIHTC projects in California should refer to Regulation Section 10325(c)(2) and Checklist Items Tabs 21 and 22 for additional requirements.

Total Points for General Partner & Management Company Experience:

C. Housing Needs

Maximum 10 Points 10 Points

Special Needs

Total Points for Housing Needs:

D. Site & Service Amenities D(1) Site Amenities

Maximum 25 Points Maximum 15 Points

Amenities must be appropriate to the tenant population served. To receive points the amenity must be in place at the time of application, except under the Public School subsection as indicated in Regulation Section 10325(c)(5)(A)(5). The application must include a map scaled for distance using a standardized radius from the development site as determined by the Committee. Measurement from the project to a site must not include physical barriers. The map must show the distance of the site amenities from the development site. An application proposing a project located on multiple scattered sites (all sites within a five-mile diameter range) shall be scored proportionately in the site amenities based upon (i) each siteâ&#x20AC;&#x2122;s score, and (ii) the percentage of units represented by each site. Applicants must provide color photographs, a contact person and a contact telephone number for each requested site amenity. Any inaccurate information will be subject to negative points. No more than 15 points will be awarded in this category. Only one point award will be available in each of the subcategories (a-h) listed below. Amenities may include:

a) Transit-Oriented Development Strategy (i)

Located where there is a transit station, rain station, commuter rail station, bus station, or public bus stop within 1/4 mile of the project site with service at least every 30 minutes during the hours of 7-9 a.m. and 4-6 p.m. Monday through Friday, and the projectâ&#x20AC;&#x2122;s density exceeds 25 units per acre.

(ii)

The project site is within 1/4 mile of a transit station, rail station, commuter rail station, bus station, or public bus stop with service at least every 30 minutes during the hours of 7-9 a.m.

7 Points

6 Points

and 4-6 p.m. Monday through Friday. (iii)

The project site is within 1/3 mile of a public bus stop or rail station with service at least every 30 minutes during the hours of 7-9 a.m. and 4-6 p.m. Monday through Friday.

(iv)

The project site is located within 1/4 mile of a regular public bus stop or a rapid transit system stop. (For rural set-aside projects, these points may be awarded where van or dial-a-ride service

5 Points 4 Points

is provided to tenants.) (v)

The project site is located within 1/3 mile of a regular public bus stop or rapid transit system stop.

Select one:

3 Points

(i)

A private bus or transit system providing free service may be substituted with prior approval from the CTCAC Executive Director. This prior approval must be received before the application deadline and the bus or transit system must meet the relevant headway and distance criteria stated above. If pre-approved, select applicable point category above.

XIPE TOTEC | DEVELOPMENT PROPOSAL

Total Points for Transit-Oriented Development Strategy Amenity:

b) Public Park (i)

The site is within 1/4 mile of a public park (1/2 mile for Rural set-aside projects) (not including school grounds unless there is a bona fide, formal joint-use agreement between the jurisdiction responsible for the parkâ&#x20AC;&#x2122;s/recreation facilities and the school district providing availability to the general public of the school grounds and/or facilities) or a community center accessible to the general public. Joint-use agreement (if yes, please provide a copy)

(ii)

N/A

2 Points

The site is within 1/2 mile (1 mile for Rural set-aside).

Select one:

3 Points

(i)

Total Points for Public Park Amenity:

c) Book-Lending Public Library (i)

The site is within 1/4 mile of a book-lending public library that also allows for inter-branch lending when in a multi-branch system (1/2 mile for Rural set-aside projects).

(ii)

The site is within 1/2 mile of a book-lending public library that also allows for inter-branch lending when in a multi-branch system (1 mile for Rural set-aside projects).

Select one:

3 Points 2 Points

(i)

Total Points for Public Library Amenity:

d) Full-Scale Grocery Store, Supermarket, Neighborhood Market, or Farmers' Market Please refer to Checklist Items for supporting documentation requirements (i)

(ii)

(iii)

(iv)

The site is within 1/4 mile of a full scale grocery store/supermarket of at least 25,000 gross interior square feet where staples, fresh meat, and fresh produce are sold (1/2 mile for Rural set-aside projects).

The site is within 1/2 mile of a full scale grocery store/supermarket of at least 25,000 gross interior square feet where staples, fresh meat, and fresh produce are sold (1 mile for Rural set-aside projects).

The site is within 1.5 miles of a full scale grocery store/supermarket of at least 25,000 gross interior square feet where staples, fresh meat, and fresh produce are sold (3 miles for Rural set-aside projects).

The site is within 1/4 mile of a neighborhood market of 5,000 gross interior square feet or more where staples, fresh meat, and fresh produce are sold (1/2 mile for Rural set-aside projects).

5 Points

4 Points

3 Points

4 Points

(v)

The site is within 1/2 mile of a neighborhood market of 5,000 gross interior square feet or more where staples, fresh meat, and fresh produce are sold (1 mile for Rural set-aside projects).

3 Points

(vi)

The site is within 1/4 mile of a weekly farmers' market certified by the California Federation of

2 Points

Certified Farmers' Markets, and operating at least 5 months in a calendar year. (vii) The site is within 1/2 mile of a weekly farmers' market certified by the California Federation of Certified Farmers' Markets, and operating at least 5 months in a calendar year. Select one:

1 Point

(i)

Total Points for Full-Scale Grocery Store/Supermarket or Convenience Market Amenity:

e) Public Elementary, Middle, or High School (i)

(ii)

For a qualifying development, the site is within 1/4 mile of a public elementary school; 1/2 mile of a public middle school; or 1 mile of a public high school (an additional 1/2 mile for each public school type for Rural set-aside projects), and the site is within the attendance area of that school.

The site is within 3/4 mile of a public elementary school; 1 mile of a public middle school; or 1.5 miles of a public high school (an additional 1/2 mile for each public school type for Rural set-aside projects), and the site is within the attendance area of that school.

Select one:

3 Points

2 Points

(i)

Total Points for Public Elementary, Middle, or High School Amenity:

f) Senior Developments: Daily Operated Senior Center (i)

(ii)

For a senior development the project site is within 1/4 mile of a daily operated senior center or a facility offering daily services to seniors (not on the project site) (1/2 mile for Rural set-aside).

The project site is within 1/2 mile of a daily operated senior center or a facility offering daily services to seniors (not on the project site) (1 mile for Rural Set-aside).

Select one:

3 Points

2 Points

(i)

XIPE TOTEC | DEVELOPMENT PROPOSAL Total Points for Daily Operated Senior Center Amenity:

g) Special Needs or SRO Development: Population Specific Service Oriented Facility (i)

For a special needs or SRO development, the site is located within 1/2 mile of a facility that operates to serve the population living in the development.

3 Points

(ii)

The project site is located within 1 mile of a facility that operates to serve the population living in the development.

2 Points

Select one:

(i)

Total Points for Population Specific Service Oriented Facility Amenity:

h) Medical Clinic or Hospital (i)

(ii)

The site is within 1/2 mile (1 mile for Rural Set-aside) of a qualifying medical clinic with a physician, physician's assistant, or nurse practitioner onsite for a minimum of 40 hours each week, or hospital (not merely a private doctor’s office).

The site is within 1 mile (1.5 miles for Rural Set-aside) of a qualifying medical clinic with a physician, physician's assistant, or nurse practitioner onsite for a minimum of 40 hours each week, or hospital (not merely a private doctor’s office).

Select one:

3 Points

2 Points

(i)

Total Points for Medical Clinic or Hospital Amenity:

i) Pharmacy (i)

(ii)

The site is within 1/4 mile of a pharmacy (1/2 mile for Rural Set-aside). (This category may be combined with the other site amenities above).

The site is within 1/2 mile of a pharmacy (1 mile for Rural Set-aside). (This category may be combined with the other site amenities above).

Select one:

2 Points

1 Point

(i)

Total Points for Pharmacy:

j) In-unit High Speed Internet Service 2 Points

(i) High speed internet service with a 768 kilobits/second capacity provided in each unit free of charge to the tenants for a minimum of 10 years, and available within 6 months of the project's placed-in-service date. If internet service is selected, it must be provided even if it is not needed for points.

3 Points

(ii) Rural set-aside only: High speed internet service with a 768 kilobits/second capacity provided in each unit free of charge to the tenants for a minimum of 10 years, and available within 6 months of the project's placed-inservice date. If internet service is selected, it must be provided even if it is not needed for points.

Select one:

(i)

Total Points for Internet Service:

Total Points for Site Amenities:

Site Amenity Contact List: Amenity Name: Address: City, Zip

REFER TO SITE AMENITY MAP

Contact Person: Phone: Amenity Type:

Ext.:

Amenity Name: Address: City, Zip Contact Person: Phone: Amenity Type:

Website: Distance in miles:

Amenity Name:

Address: City, Zip

Contact Person:

Ext.:

XIPE TOTEC | DEVELOPMENT PROPOSAL Phone:

Ext.:

Phone:

Amenity Type:

Website:

Distance in miles:

Amenity Name:

Address:

City, Zip

Contact Person:

Phone:

Ext.:

Phone:

Amenity Type:

Website:

Distance in miles:

Amenity Name:

Address:

City, Zip

Contact Person:

Phone:

Ext.:

Phone:

Amenity Type:

Website:

Distance in miles:

Amenity Name: Address: City, Zip Contact Person:

Amenity Name: Address: City, Zip

Phone: Amenity Type: Website: Distance in miles:

Ext.:

Contact Person: Ext.:

Phone: Amenity Type: Website: Distance in miles:

D(2) Service Amenities

Ext.:

Maximum 10 Points

Projects that provide high-quality services designed to improve the quality of life for tenants are eligible to receive points for service amenities. Services must be appropriate to meet the needs of the tenant population served and designed to generate positive changes in the lives of tenants. Except as provided below and in Reg. Section 10325(c)(5)(B), in order to receive points in this category physical space for service amenities must be available when the development is placed-in-service. Services space must be located inside the project and provide sufficient square footage, accessibility and privacy to accommodate the proposed services. The amenities must be available within 6 months of the projectâ&#x20AC;&#x2122;s placed-in-service date. Applicants must commit that services will be provided for a period of 10 years. All services must be of a regular and ongoing nature and provided to tenants free of charge (except for day care services or any charges required by law). Services must be provided on-site except that projects may use off-site services within 1/2 mile of the development (1 1/2 mile for Rural set-aside projects) provided that they have a written agreement with the service provider enabling the developmentâ&#x20AC;&#x2122;s tenants to use the services free of charge (except for day care and any charges required by law) and that demonstrate that provision of on-site services would be duplicative. All organizations providing services for which the project is claiming service amenities points must have at least 24 months experience providing services to one of the target populations to be served by the project.

Items 1 through 6 are applicable to Large Family, Senior, and At-Risk projects. Items 7 through 12 are applicable to Special Needs and SRO projects. Items 1 through 12 are mutually exclusive. One proposed service may not receive points under two different categories.

Applications must include a services sources and uses budget clearly describing all anticipated income and expenses associated with the services program and that aligns with the services commitments provided (i.e. contracts, MOUs, letters, etc.) Applications shall receive points for services only if the proposed services budget adequately accounts for the level of service. The budgeted amount must reasonably be expected to cover the costs of the proposed level of service. PLEASE REFER TO REGULATION SECTION 10325(c)(5)(B) FOR COMPLETE SERVICE AMENITY POINTS REQUIREMENTS.

No more than 10 points will be awarded in this category. The service budget spreadsheet must be completed. Amenities may include, but are not limited to:

a) Large Family, Senior, At-Risk projects:

N/A

(1) Service Coordinator. Responsibilities must include, but are not limited to: (a) providing tenants with information about available services in the community, (b) assisting tenants to access services through referral and advocacy, and (c) organizing community-building and/or other enrichment activities for tenants (such as holiday events, tenant council, etc.). Minimum ratio of 1 Full Time Equivalent (FTE) Service Coordinator to 600 bedrooms.

Service Coordinator as listed above, except: Minimum ratio of 1 FTE Service Coordinator to 1,000 bedrooms.

5 points

3 points

XIPE TOTEC | DEVELOPMENT PROPOSAL N/A

(2) Other Services Specialist. Must provide individualized assistance, counseling and/or advocacy to tenants, such as to assist them to access education, secure employment, secure benefits, gain skills or improve health and wellness. Includes, but is not limited to: Vocational/Employment Counselor, ADL or Supported Living Specialist, Substance Abuse or Mental Health Counselor, Peer Counselor, Domestic Violence Counselor. Minimum ratio of 1 FTE Services Specialist to 600 bedrooms.

N/A

Other Services Specialist as listed above, except:

5 points

3 points

Minimum ratio of 1 FTE Services Specialist to 1,000 bedrooms.

N/A

(3) Adult educational, health and wellness, or skill building classes. Includes but is not limited to: financial literacy, computer training, home-buyer education, GED, resume building, ESL, nutrition, exercise, health information/awareness, art, parenting, on-site food cultivation and preparation, and smoking cessation classes. Minimum of 84 hours instruction each year (42 hours for small developments of 20 units or less).

N/A

Adult educational, health & wellness, or skill building classes as listed above, except:

7 points

5 points

Minimum of 60 hours instruction each year (30 hours for small developments).

N/A

Adult educational, health & wellness, or skill building classes as listed above, except:

3 points

Minimum of 36 hours instruction each year (18 hours for small developments).

N/A

(4) Health and wellness services and programs. Such services and programs shall provide individualized support to tenants (not group classes) and need not be provided by licensed individuals or organizations. Includes, but is not limited to visiting nurses programs, intergenerational visiting programs, or senior companion programs. Minimum of 100 hours of services per year for each 100 bedrooms.

N/A

Health and wellness services and programs as listed above, except:

N/A

Health and wellness services and programs as listed above, except:

Minimum of 60 hours of services per year for each 100 bedrooms.

Minimum of 40 hours of services per year for each 100 bedrooms.

5 points

3 points 2 points

N/A

(5) Licensed child care. Shall be available 20 hours or more per week, Monday through Friday, to residents of the development. (Only for large family projects or other projects in which at least 30% of units are 3 bedrooms or larger.)

5 points

N/A

(6) After school program for school age children. Includes, but is not limited to tutoring, mentoring, homework club, art and recreational activities. (Only for large family projects or other projects in which at least 30% of units are 3 bedrooms or larger). Minimum of 10 hours per week, offered weekdays throughout the school year.

5 points

N/A

After school program for school age children as listed above, except:

N/A

After school program for school age children as listed above, except:

Minimum of 6 hours per week, offered weekdays throughout the school year.

Minimum of 4 hours per week, offered weekdays throughout the school year.

b) Special Needs and SRO projects:

Yes

N/A

Yes

N/A

(7)

Case Manager. Responsibilities must include (but are not limited to) working with tenants to develop and implement an individualized service plan, goal plan or independent living plan. Minimum ratio of 1 Full Time Equivalent (FTE) Case Manager to 100 bedrooms. Case Manager as listed above, except:

3 points 2 points

5 points

3 points

Minimum ratio of 1 FTE Case Manager to 160 bedrooms. (8) Service Coordinator or Other Services Specialist. Service coordinator responsibilities shall include, but are not limited to: (a) providing tenants with information about available services in the community, (b) assisting tenants to access services through referral and advocacy, and (c) organizing community-building and/or other enrichment activities for tenants (such as holiday events, tenant council, etc.). Other services specialist must provide individualized assistance, counseling and/or advocacy to tenants, such as to assist them to access education, secure employment, secure benefits, gain skills or improve health and wellness. Includes, but is not limited to: Vocational/Employment Counselor, ADL or Supported Living Specialist, Substance Abuse or Mental Health Counselor, Peer Counselor, Domestic Violence Counselor. Minimum ratio of 1 FTE Service Coordinator or Other Services Specialist to 360 bedrooms.

Service Coordinator or Other Services Specialist as listed above, except: Minimum ratio of 1 FTE Case Manager to 600 bedrooms. (9) Adult educational, health and wellness, or skill building classes. Includes but is not limited to: financial literacy, computer training, home-buyer education, GED, resume building, ESL, nutrition, exercise, health information/awareness, art, parenting, on-site food cultivation and preparation, and smoking cessation classes. Minimum of 84 hours of instruction each year (42 hours for small developments of 20 units or less).

Adult educational, health & wellness, or skill building classes as listed above, except:

5 points

3 points

5 points

3 points

Minimum of 60 hours of instruction each year (30 hours for small developments).

N/A

Adult educational, health & wellness, or skill building classes as listed above, except:

2 points

XIPE TOTEC | DEVELOPMENT PROPOSAL Minimum of 36 hours of instruction each year (18 hours for small developments).

N/A

(10) Health or behavioral health services provided by appropriately-licensed organization or individual. Includes but is not limited to: health clinic, adult day health center, medication management services, mental health services and treatment, substance abuse services and treatment.

5 points

N/A

(11) Licensed child care. Shall be available 20 hours or more per week, Monday through Friday, to residents of the development. (Only for large family projects or other projects in which at least 30% of units are 3 bedrooms or larger.)

5 points

N/A

(12) After school program for school age children. Includes, but is not limited to tutoring, mentoring, homework club, art and recreational activities. (Only for large family projects or other projects in which at least 30% of units are 3 bedrooms or larger). Minimum of 10 hours per week, offered weekdays throughout the school year.

5 points

N/A

After school program for school age children as listed above, except:

N/A

After school program for school age children as listed above, except:

3 points

Minimum of 6 hours per week, offered weekdays throughout the school year.

2 points

Minimum of 4 hours per week, offered weekdays throughout the school year.

The service budget spreadsheet must be completed.

Total Points for Service Amenities:

E. Sustainable Building Methods REVIEW REG. SECTION 10325(c)(6) BEFORE PROCEEDING APPLICANTS WILL BE HELD TO REGULATORY REQUIREMENTS. THE APPLICATION MAY CONTAIN ABBREVIATED DESCRIPTIONS OF THE REQUIREMENTS FOR THIS SECTION.

Maximum 10 Points

E(1) New Construction and Adaptive Reuse projects select from the following features: (i)

Yes

Develop the project in accordance with the minimum requirements with any one of the following programs:

5 Points

LEED (ii)

Energy efficiency as indicated in Reg. Section 10325(c)(6)(B) beyond the requirements in 2008 Title 24, Part 6 of the California Building Code (2008 Title 24):

N/A Low Rise (1-3 habitable stories)

0 Points

N/A

N/A Multifamily of 4+ habitable stories

0 Points

N/A (iii)

Yes

Develop the project beyond the minimum requirements of the program chosen in section (i) above: LEED Gold

GreenPoint Rated Multifamily Guidelines N/A

E(2) Rehabilitation projects select from the following features:

N/A

(iv)

Develop the project in accordance with the minimum requirements with any one of the following programs:

5 Points 0 Points 0 Points

N/A

(v)

Rehabilitate to improve energy efficiency; points awarded based on percentage decrease in estimated Time Dependent Valuation energy use post-rehabilitation: Improvement over current: N/A

N/A

(vi)

Develop the project beyond the minimum requirements of the program chosen in section (i) above: LEED N/A

GreenPoint Rated Existing Home Multifamily Program N/A

2011 Enterprise Green Communities

N/A N/A

(vii)

0 Points

0 Points 0 Points 0 Points

Additional rehabilitation project measures (chose one or more of the following three categories): (A) PHOTOVOLTAIC / SOLAR

0 Points

N/A

(B) SUSTAINABLE BUILDING MANAGEMENT PRACTICES, INCLUDING THE FOLLOWING:

0 Points

1. Develop project-specific maintenance manual, including information on all energy and green building features 2. Certify building management staff in sustainable building operations (BPI or equivalent) 3. Undertake formal building systems commissioning, retro-commissioning, or re-commissioning

XIPE TOTEC | DEVELOPMENT PROPOSAL N/A

(C)

0 Points

INDIVIDUALLY METER (OR SUB-METER CURRENT MASTER-METERED) GAS, ELECTRICITY, OR CENTRAL HOT WATER SYSTEMS FOR ALL TENANTS

To receive these points, the applicant and the project architect must certify in the application which of the above items will be included in the project’s design and specifications, and further must certify at the project’s placed-in-service date that the items were completed. In addition, certain point categories require completion of the TCAC Sustainable Building Method Workbook and accompanying documentation by a qualified energy analyst at application and placed-in-service stages. Refer to Reg. Section 10325(c)(6), Checklist Item Tab 25, and the TCAC website for requirements related to the TCAC Sustainable Building Method Workbook. Refer to Reg. Section 10325(c)(6)(H) for specific Compliance and Verification requirements. Projects receiving points under this category that fail to meet the requirements of Reg. Section 10325(c)(6) will be subject to negative points under Section 10325(c)(3).

Total Points For Sustainable Building Methods:

Maximum 52 Points F. Lowest Income F(1) Lowest Income Restriction for All Units

50 Points

The “Percent of Area Median Income” category may be used only once. For instance, 50% of Income Targeted Units to Total Tax Credit Units at 50% of Area Median Income (AMI) cannot be used twice for 100% at 50% and receive 50 points, nor can 50% of Income Targeted Units to Total Tax Credit Units at 50% of Area Median Income for 25 points and 40% of Income Targeted Units to Total Units at 50% of Area Median Income be used for an additional 20 points. However, the “Percent of Income Targeted Units” may be used multiple times. For example, 50% of Targeted Units at 50% of Area Median Income for 25 points may be combined with another 50% of Targeted Units at 45% of Area Median Income to achieve the maximum points. All projects must score at least 45 points in this category to be eligible for 9% Tax Credit. *Only projects competing in the Rural Set-aside may use the 55% AMI column and selected targeting in the 50% AMI column. **60% AMI is included as a place-holder and will not receive any additional points. Percent of Area Median Income (AMI) **60%

Percent of Income Targeted Units to Total Tax Credit Units (exclusive of mgr.’s units)

40%

35%

80%

*55%

50%

45%

47.5

75%

42.5

47.5

70%

65%

60%

55% 50%

0 0

25*

45%

40%

35%

30%

42.5

37.5

42.5

32.5

37.5

30 27.5

32.5 30

35 32.5

37.5 35

22.5*

27.5

32.5

17.5

22.5

27.5

17.5

22.5

27.5

30%

12.5

17.5

22.5

25%

12.5

17.5

22.5

20%

7.5

12.5

17.5

15%

7.5

12.5

17.5

10%

2.5

7.5

12.5

Consolidate your units before entering your information into the table Do not enter any non-qualifying units into the table Percent of Income Percentage of Units to Targeted Units to Total Total Units Tax Credit Units (before rounding (exclusive of mgr.’s down) units)

Number of Targeted Tax Credit Units

Percent of Area Median Income (AMI) (30%- 55%)*

0.97

100

0.00

0 -Rural only

0.00

0 -Rural only 60

0.00 0.03

0 0

Points Earned

50 60 Total Points Requested: *IF 60% AMI UNITS ARE LESS THAN 10% OF TOTAL UNITS, LEAVE CELL E628 BLANK. F(2) Lowest Income for 10% of Total Restricted Units at 30% AMI

2 Points

A project that agrees to have at least 10% of its units available for tenants with incomes no greater than 30% AMI and agrees to restrict the rents on those units accordingly can receive two additional points. The 30% AMI units must be spread across the various bedroom sizes, starting with the largest bedroom count units (e.g. four bedroom units) and working down to the smaller bedroom count units, assuring that at least 10% of the larger units are proposed at 30% AMI. So long as the project meets the 10% standard as a whole, the 10% standard need not be met among all of the smaller units. TCAC may correct applicant errors in carrying out this largest-to-smallest unit protocol.

Number of Targeted Tax Total Number of Percentage of Tax Credit Units Credit Units @ 30% Units to Total Units Bedroom Selection per Bedroom Size AMI (by bedroom size) 5 BR

0.0000

4 BR

0.0000

XIPE TOTEC | DEVELOPMENT PROPOSAL 3 BR

0.0000

2 BR

0.0000

1 BR

0.0000

SRO

1.0000

Total:

Lowest Income for 10% of Total Restricted Units at 30% AMI Points:

Total Points for Lowest Income:

G. Readiness to Proceed Points are available to applications documenting each of the categories below, up to a maximum of 20 points. Within the application the following must be delivered (see Checklist Items for additional information):

Readiness to Proceed

Yes

(i)

Yes

(ii)

Maximum 20 Points

Enforceable commitment for all construction financing, as evidenced by executed

5 points

commitment and payment of commitment fees Evidence, as verified by the appropriate officials, of site plan approval and that all land

5 points

use environmental review clearances (CEQA, NEPA, applicable tribal land environmental reviews) necessary to begin construction are either finally approved or unnecessary

Yes

(iii)

All necessary public/tribal approvals except building permits

5 points

Yes

(iv)

Design review approval

5 points

20 points will be available to projects that document all of the above and are able to begin construction within 180 days of the Credit Reservation, as evidenced by submission of the following within 180 days of the Credit Reservation: updated application form and explanation of changes, executed construction contract, breakdown of lender-approved construction costs, recorded deeds of trust for all construction financing, binding commitments for permanent financing and any other required financing, a limited partnership agreement executed by the general partner and the investor providing the equity, payment of all construction lender fees, issuance of building permits (a grading permit does not meet this requirement), and notice to proceed delivered to the contractor. If no construction lender is involved, evidence must be submitted within 180 days after the Credit Reservation is made that the equity partner has been admitted to the ownership entity and that an initial disbursement of funds has occurred. Failure to meet this timeline will result in rescission of the Credit Reservation. In addition to the above, all applicants receiving any points under this subsection must provide an executed Letter of Intent (LOI) from the project's equity partner within 90 days of the credit reservation. The LOI must include those features called for in the CTCAC application (See Appendix for requirements). In the event that one or more of the above criteria have NOT been met, 5 points may be awarded for each one that has been met, up to a maximum of 15 points. In such cases, the 180-day requirements shall not apply to projects that do not obtain the maximum points in this category. The 90-day requirements apply to all projects requesting any points under this category.

Total Points for Readiness to Proceed:

Maximum 2 Points

H. Miscellaneous Federal and State Policies

Yes

(i)

For applicants that agree that the Committee may exchange Federal Tax Credits for

2 Points

State Tax Credits in an amount that will yield equal equity as if only Federal Tax Credits were awarded.

N/A

(ii)

Enhanced Accessibility and Visitability. Project design incorporates California Building Code

2 Points

Chapter 11(B) and the principles of Universal Designed listed in Reg. Section 10325(c)(9)(B) in at least half of the project's units.

N/A

(iii)

2 Points

Smoke Free Residence. The proposed project will contain nonsmoking buildings or sections of buildings. Nonsmoking sections must consist of at least half the units within the building, and those units must be contiguous.

N/A

(iv)

N/A

(v)

Historic Preservation. The project proposes to incorporate historic tax credits.

1 Point

Qualified Census Tract (QCT). The project is located within a QCT and the development

2 Points

would contribute to a concerted community revitalization plan as demonstrated by a letter from a local government official.

N/A

(vi)

Eventual Tenant Ownership. The project proposes to make tax credit units available for

1 Point

eventual tenant ownership.

Total Points for Miscellaneous Federal and State Policies:

VI. POINTS SYSTEM - SECTION 2: POINTS SYSTEM SUMMARY Total Possible Points: 148, Minimum Points Required: 123 (Do Not Submit An Application If You Do Not Have The Minimum Points Required)

Cost Efficiency, Credit Reduction, & Public Funds

APPLICANT POINTS 96

MAXIMUM POINTS 20

TOTAL POINTS 20

XIPE TOTEC | DEVELOPMENT PROPOSAL

A(1) Cost Efficiency A(2) Credit Reduction A(3) Public Funds B.

General Partner & Management Company Experience A(1) General Partner Experience A(2) Management Company Experience

Housing Needs

Site & Service Amenities D(1) Site Amenities D(2) Service Amenities

Sustainable Building Methods

Lowest Income & 10% of Units Restricted @ 30% AMI F(1) Lowest Income F(2) 10% of Units Restricted @ 30% AMI

Readiness to Proceed

Miscellaneous Federal and State Policies

*Negative Points (if any, please enter amount:)

33 45 18 9 6 3 10 44 34 10 10 52 50 2 20 2

20 20 20 9 6 3 10 25 15 10 10 52 50 2 20 2 NO MAX

Total Points:

9 10 25 10 52 20 2 0

148

*Negative points given to general partners, co-developers, management agents, consultants, or any member or agent of the Development Team may remain in effect for up to two calendar years, but in no event shall be in effect for less than one funding round. Furthermore, negative points may be assigned to one or more Development Team members, but do not necessarily apply to the entire Team. Negative points assigned by the Executive Director may be appealed to the Committee under appeal procedures enumerated in the regulations.

2 2

Y Y Y 11

N N

Water Use Reduction—20% Reduction Water Efficient Landscaping Innovative Wastewater Technologies Water Use Reduction

Credit 3

Credit 2

Credit 1.2

Credit 1.1

Prereq 1

Possible Points:

Storage and Collection of Recyclables Building Reuse—Maintain Existing Walls, Floors, and Roof Building Reuse—Maintain 50% of Interior Non-Structural Elements Construction Waste Management Materials Reuse

Possible Points:

Fundamental Commissioning of Building Energy Systems Minimum Energy Performance Fundamental Refrigerant Management Optimize Energy Performance On-Site Renewable Energy Enhanced Commissioning Enhanced Refrigerant Management Measurement and Verification Green Power

Materials and Resources

Credit 6

Credit 5

Credit 4

Credit 3

Credit 2

Credit 1

Prereq 3

Prereq 2

Prereq 1

Energy and Atmosphere

Credit 2

Credit 1

Prereq 1

Possible Points:

Construction Activity Pollution Prevention Site Selection Development Density and Community Connectivity Brownfield Redevelopment Alternative Transportation—Public Transportation Access Alternative Transportation—Bicycle Storage and Changing Rooms Alternative Transportation—Low-Emitting and Fuel-Efficient Vehicles Alternative Transportation—Parking Capacity Site Development—Protect or Restore Habitat Site Development—Maximize Open Space Stormwater Design—Quantity Control Stormwater Design—Quality Control Heat Island Effect—Non-roof Heat Island Effect—Roof Light Pollution Reduction

Water Efficiency

Credit 8

Credit 7.2

Credit 7.1

Credit 6.2

Credit 6.1

Credit 5.2

Credit 5.1

Credit 4.4

Credit 4.3

Credit 4.2

Credit 4.1

Credit 3

Credit 2

Credit 1

Prereq 1

Sustainable Sites

N N

Credit 3

Y 4

1 1 1

6 1

Y 1 5

Project Checklist

1 to 3 1 1 to 2 1 to 2

1 to 19 1 to 7 2 2 3 2

2 to 4 2 2 to 4

1 5 1 6 1 3 2 1 1 1 1 1 1 1

LEED 2009 for New Construction and Major Renovations

1 1 1

1 1 1 1 1 1 1 1 1 1 1 1 1 1

Y Y

2 2 1

N N N N

N N

Recycled Content Regional Materials Rapidly Renewable Materials Certified Wood

Innovation in Design: Specific Title Innovation in Design: Specific Title Innovation in Design: Specific Title Innovation in Design: Specific Title Innovation in Design: Specific Title LEED Accredited Professional

Regional Regional Regional Regional

Gold 60 to 79 points

Specific Credit Specific Credit Specific Credit Specific Credit

Silver 50 to 59 points

Priority: Priority: Priority: Priority:

Certified 40 to 49 points

Total

Credit 1.4

Credit 1.3

Credit 1.2

Credit 1.1

Regional Priority Credits

Credit 2

Credit 1.5

Credit 1.4

Credit 1.3

Credit 1.2

Credit 1.1

Possible Points:

1 1 1 1 1 1

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

1 to 2 1 to 2 1 1

Platinum 80 to 110

Possible Points: 110

1 1 1 1

Possible Points: 4

Possible Points:

Minimum Indoor Air Quality Performance Environmental Tobacco Smoke (ETS) Control Outdoor Air Delivery Monitoring Increased Ventilation Construction IAQ Management Plan—During Construction Construction IAQ Management Plan—Before Occupancy Low-Emitting Materials—Adhesives and Sealants Low-Emitting Materials—Paints and Coatings Low-Emitting Materials—Flooring Systems Low-Emitting Materials—Composite Wood and Agrifiber Products Indoor Chemical and Pollutant Source Control Controllability of Systems—Lighting Controllability of Systems—Thermal Comfort Thermal Comfort—Design Thermal Comfort—Verification Daylight and Views—Daylight Daylight and Views—Views

Innovation and Design Process

Credit 8.2

Credit 8.1

Credit 7.2

Credit 7.1

Credit 6.2

Credit 6.1

Credit 5

Credit 4.4

Credit 4.3

Credit 4.2

Credit 4.1

Credit 3.2

Credit 3.1

Credit 2

Credit 1

Prereq 2

Prereq 1

Indoor Environmental Quality

Credit 7

Credit 6

Credit 5

Credit 4

Materials and Resources, Continued

5_1_2014

Xipe Totec_ 345 Fickett St

XIPE TOTEC | DEVELOPMENT PROPOSAL

16 mos

Entitlement Schedule

1.5 mos 2 weeks

3 weeks

8 mos 3 mos

Environmental Staff Advisory Commitee makes Determination Proposed MND is Published in L.A Times

Notice of Migated Negative Declaration (circulated for 20) days

Planning Department Processes the Density Bonus and Site Plan Review

2 mos 3 wks 3 wks 2 wks

22 mos 16 mos 1 mos 6 mos Ongoing

Predevelopment Total

Permit Process Submit Construction Plans to Dept. of Building and Safety for Plan check Receive Plan Check Corrections and Re-submit revised plans Pay Fees and receive Permits to Commence construction

Construction Construction Completion (18 months) Certificate of Occupancy Lease-up Period Stabilized Operation Operation

SOURCES OF FUNDS

Retail Bank Loan for Construction Residential Bank Loan for Construction Tax Credit Equity LA Department of Mental Health (Capital Subsidy) New Market Tax Credits (NMTC)

2 mos

Submit Affordable Housing Referral Form and all approved letters to LAHD to prepapre Covenant Agreement Record Covenant Agreement at LA County Recorder's Office

3 mos

2.5 mos

Staff prepare Initial Study

Director's Determination Approved by Principal City Planner on DB Director's Determination Approved by Principal City Planner on Site Plan Review

6 mos

Environmental Review

Submit Application for Environmental Assesment Form, Density Bonus and Site Plan Review to City Planning

Obtain Case Filing Approval Form-Affordable Housing Referral Form

7 mos 2 months 3 mos 2 mos

Land Acquisition Prep Time METRO RFP for Ground Lease Single Long term (55) Year Term Lease with Metro

Months

345 Fickett Construction Schedule

0 0 0 100% 0

Construction Total

May

100% 100% 15% 100% 100%

July 3

Aug 4

Permanent Permanent Retail Residential Total 0 0 100% 0 0 100% 0 85% 100% 0 100% 100% 100% 0 100%

Jun

Sept Oct Nov Dec Jan Feb Mar Apil May Jun July Aug Sept Oct Nov Dec Jan Feb Mar Apil May June July Aug Sept Oct Nov Dec Jan Feb Mar Apil May June July Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53

XIPE TOTEC | DEVELOPMENT PROPOSAL



May 5, 2014 UCLA - MURP UCLA Luskin School of Public Affairs Re:

345 Fickett, Los Angeles, CA

Dear Mr. Mai: This letter will serve as a preliminary outline of the terms under which Bank of America (the “Bank”) would consider a loan request and equity investment on the above referenced project. This letter does not represent an offer or commitment by the Bank for the proposed financing, nor does it define all the terms and conditions of a loan commitment, but is a framework upon which a loan request may be submitted. Issuance of a commitment by the Bank is subject to, among other things, the completion of the following items, and approval of the loan request under the Bank’s internal approval process. The Bank may decline to approve the loan request. Upon your response to this letter and after providing any additional information which may be necessary, the Bank will proceed with the necessary due diligence to submit the loan request. The proposed terms and conditions are as follows: Project:

To be built 60 unit apartment complex located at Los Angeles, CA.

Borrower:

A to-be-determined special purpose entity - form and substance of Borrower must be acceptable to the Bank.

Reporting Requirements:

Know Your Customer:

Other Requirements:

Annually:

Borrower and Guarantors’ financial statements and covenant compliance.

Monthly:

Property operating statements and rental summary report.

Within five (5) business days of opening an account with Bank, Borrower shall have delivered to Bank all due diligence materials necessary and relevant to verifying Borrower's identity and background information, as deemed necessary by Bank in its sole and absolute discretion. All of the following to be acceptable to the Bank: documentation and submissions that are standard for loans of this type including, but not limited to, appraisal, ESA, legal documentation, title/survey, proposed standard lease form, front-end cost and document reviews and acceptance of final budget (includes adequate contingency, interest carry/operating deficit reserve, etc.), review of plans/specs, condition of markets/submarkets, revenue/expenses pro-formas, financial review of Borrower, Guarantor, and general contractor, management agreement and subordination; and (as applicable), proof of tax credit award, equity investor and

Page 1 of 7

 pay-in schedule, proof of tax-exempt status with respect to ad valorem taxes and other terms and conditions as may be required. Confidentiality:

This term sheet is strictly confidential and may not be shared with anyone else other than the owners of Borrower.

Construction Loan Construction Loan Amount:

Construction Interest Rate:

Information obtained by the Bank is so far insufficient to establish a loan amount. Based on our general underwriting parameters for what we believe to be similar transactions, the construction loan amount in this transaction would be the lesser of: 1) $5,833,101 2) 85% LTC based on final Bank approved construction budget or 3) 75% LTV based on an appraisal in form and substance acceptable to the Bank.

30-Day LIBOR + 2.00%, floating. Term Loan Interest Rate as further described below.

Construction Loan Term:

24 months from the loan closing.

Construction Loan Amortization:

Interest only for 24 months

Construction Loan Fee:

1.00% of the total Loan Commitment, payable at closing.

Construction Renewal Options:

One six-month extension options subject to the following: a) No less than 30 but no more than 90 day written notice of intention to exercise the option; b) No event of default having occurred or potential default occurring; c) Performance hurdles have been met, including but not limited to, lien-free construction completion and lease up hurdles; d) The loan is in balance, including sufficient interest reserve; e) Project must demonstrate the ability to be able to convert/payoff Bank’s loan within the extension period; f) All co-construction loans mature or are extended concurrent or past the Bank’s extension date; g) All takeout commitments expire or are extended concurrent or past the Bank’s extension date; h) All investor commitments include terms or are modified to be consistent with the extension of the Bank’s loan; i) No material adverse change in the financial condition of the Project, Borrower, and Guarantor; j) Payment of 0.50% renewal fee based on the committed Loan amount; and k) Rate adjustment or fee payment, as appropriate, to cover the cost of revising the forward rate lock, if any.

Page 2 of 7

 Payment and Performance Guaranty:

100 % guarantee of completion, performance and repayment to be provided by a TBD entity acceptable to Bank. The guarantors shall be required to meet to-bedetermined liquidity, leverage, and net-worth covenants. For borrowers that are single-asset entities, principal(s) with general liability or guarantor(s) acceptable to the Bank must be jointly and severally liable for completion of the project and repayment of the financing, including interest and costs.

Collateral:

1) First Lien Deed of Trust on land and improvements constructed thereon. 2) UCC filing on furniture, fixtures and equipment. 3) Assignment of rents/leases and management/construction/architectural contracts, etc. 4) Assignment of interest rate hedge agreement, if any.

General Contractor:

To be acceptable to Bank.

Term Loan: Term Loan Amount:

N/A.

Equity: Partnership:

General Partner will own a 0.01% interest in the Partnership; Bank (the “Investor”) will own a 99.99% interest in the Partnership.

Capital Contributions: Bank will make a total Capital Contribution of $1.10 for each $1.00 off Tax Credits to which it will be entitled as a limited partner for a total Capital Contribution of $8,434,020 to be paid as follows: Milestone

Initial Capital Contribution

Conditions to be satisfied prior to payment

(i) closing of the Partnership (ii) closing and initial funding of all construction financing for the Project (iii) receipt of commitments for all permanent financing on the Project with the interest rate fixed for at least 15 years (iv) evidence of either acquisition of, or a long-term leasehold interest in, the land and building for the Project (v) evidence the Partnership has received an allocation from the Credit Agency of 9% credits in an amount equal to the Projected Federal Credits (vi) receipt by the Investor of a tax opinion prepared by special tax counsel for the Partnership in a form which is acceptable to the Investor (vii) satisfactory completion of Investor’s due diligence

Page 3 of 7

% Equity

$ Equity

15%

$1,265,103

 Conversion and Stabilization Capital Contribution

Final Capital Contribution (The balance of the unpaid Total Capital Contribution)

(i) the Project then has achieved at least three consecutive calendar months of a minimum of 1.15 to 1 debt service coverage on the Permanent Loans (which period must include the last day of the most recent calendar month), (ii) the Project is then at least 90% occupied (iii) all tax credit units have been leased to qualified tenants at least one time (v) permanent certificates of occupancy have been issued for each building (vi) all reserves have funded or will fund concurrent with this payment This contribution will occur no earlier than May 1, 2016. (i) the Credit Agency has issued a Form 8609 for each building (ii) a cost certification by a qualified accountant has been received in a form acceptable to Investor (iii) a copy of the recorded Extended Use Agreement has been received (iv) a copy of the compliance audit of the initial tenant files has been received (v) calculations of final adjusters have been prepared and agreed to

80%

$6,747,216

$421,701

This contribution will occur no earlier than May 1, 2016. Operating Deficit Guaranty.

General Partner and guarantors will agree to loan to the Partnership any amounts required to fund operating deficits. The Operating Deficit Guaranty will terminate upon the later of 60 months after the later of (i) the expiration of the Completion and Development Deficit Guaranty, or (ii) the Project’s achievement of 1.20 to 1 debt service coverage ratio for the MHSA Adminsitrative Fee calculated over a period of 12 consecutive months. In addition, in order for the Operating Deficit Guaranty to terminate, the Project must average a 1.20 to 1 debt service coverage ratio for the last 12 months of the 60 month period or any subsequent 12 month period and the Operating Reserve must be replenished to its originally required balance.

Credit Adjuster.

To the extent such final projected amount of Low-Income Housing Tax Credits varies from the Original Projected Credits, Investor’s capital contribution will be adjusted by $0.90 per federal credit on such variance in the delivery of actual credits to Original Project Credit (as reflected in cost certifications or Form 8609).

Timing Adjuster.

Investor’s federal credit capital contribution will be adjusted to reflect the later or earlier than projected delivery of federal credits with respect to the first year and, if applicable, the second year, of the credit period, based on a reduction in price of 75 cents for every federal credit dollar deferred, or an increase based on 75% of the price per credit established in Section 6 above for every federal credit dollar accelerated.

Distribution of Operating Cash Flow.

Operating cash flow will be utilized as follows: (i) payment of debt service on the Permanent Loans and other operating expenses; (ii) additions to a funded capital replacement reserve as provided in the Partnership Agreement;

Page 4 of 7

 (iii) payment of the Asset Management Fee ($3,000 per year increasing 3% per year) to the Special Limited Partner, which fee will accrue if not paid; (iv) payment of the Deferred Developer Fee, (v) payment of the Partnership Management Fee ($10,000 per year increasing 3% per year) to the General Partner, which fee will accrue if not paid; (vi) repayment of any Operating Deficit Loans made by General Partner; (vii) replenishment of the Operating Reserve Account; (viii) payment of an incentive management fee, not to exceed 80% of cash flow; (ix) then to the partners in accordance with the Percentage Interests.

Right of First Refusal. At the end of the 15 year tax credit compliance period, the General Partner will have a right of first refusal to purchase the Property for an amount equal to the greater of (a) fair market value of the Property, or (b) outstanding debt plus taxes payable as a result of the sale.

Other Conditions

The following are subject to Bank’s approval in its sole and absolute discretion: NMTC Investor and Lender acceptable to Bank. Project to be legally split into a residential and retail condo with CC&R’s acceptable to Bank.

General Provisions: Fees and Expenses:

Material Adverse Change:

Assumptions made:

Borrower will pay all reasonable costs incurred by the Bank in connection with the loans including, but not limited to, legal, environmental, front end costs and document review/inspections, physical needs assessment (for existing projects only) and appraisal. Borrower acknowledges that Bank may receive a benefit, including, without limitation, a discount, credit or other accommodation, from outside counsel based on the fees such counsel may receive on account of their relationship with Bank including, without limitation, fees paid pursuant hereto. Bank of America’s obligations hereunder shall terminate if, prior to closing, Bank of America determines, in its sole judgment, that there shall exist any conditions regarding the property, or the operations, business, assets, liabilities or condition (financial or otherwise, including credit rating) of Borrower or Guarantor, or there shall have occurred a material adverse change in, or there shall exist any material adverse conditions in, the market for syndicated bank credit facilities or the financial, banking, credit or debt capital markets generally, that could be expected to cause the loan to become delinquent or prevent any guarantor from performing its obligations under any guaranty or to materially and adversely affect the value or marketability of the loan or the property or Bank of America’s ability to syndicate the loan or the viability of obtaining permanent financing for the Project. The terms discussed herein are presented, based on the credit conditions in the potential transaction as known by Bank of America. Should additional facts come

Page 5 of 7

 to light that positively or negatively impact the situation, prices or other requirements quoted here may be adjusted. Expiration:

This term sheet will expire at 5:00 p.m. Pacific time on that date which is five (5) business days from the date hereof unless you execute this term sheet and return it to us prior to that time, which may be by facsimile transmission. Please understand that this term sheet does not represent an offer or commitment by Bank of America, or any of its affiliated entities, for the proposed new financing, nor does it define all of the terms and conditions of a loan commitment, but is a framework upon which a loan request may be submitted. Issuance of a commitment by Bank of America is subject to, among other things, the approval of your loan request under the Bank’s approval process. If Bank of America issues a financing commitment in this transaction, it will in all respects supersede this letter.

The undersigned acknowledges and agrees that: (i) the transaction contemplated by this Term Sheet is an arm’s length, commercial transaction between you and Bank in which Bank is acting solely as a principal and for its own interest; (ii) Bank is not acting as a municipal advisor or financial advisor to you; (iii) Bank has no fiduciary duty pursuant to Section 15B of the Securities Exchange Act of 1934 to you with respect to the transaction contemplated hereby and the discussions, undertakings and procedures leading thereto (irrespective of whether Bank has provided other services or is currently providing other services to you on other matters); (iv) the only obligations Bank has to you with respect to the transaction contemplated hereby expressly are set forth in this Term Sheet; and (v) Bank is not recommending that you take an action with respect to the transaction contemplated by this Term Sheet, and before taking any action with respect to the contemplated transaction, you should discuss the information contained herein with its own legal, accounting, tax, financial and other advisors, as it deems appropriate. If you would like a municipal advisor in this transaction that has legal fiduciary duties to you, you are free to engage a municipal advisor to serve in that capacity. This Term Sheet is provided to you pursuant to and in reliance upon the “bank exemption” provided under the municipal advisor rules of the Securities and Exchange Commission, Rule 15Ba1-1 et seq. Please review the above terms and conditions and feel free to call me with any questions or comments you may have. If you find the above terms and conditions to be acceptable, please indicate so by signing below and returning a faxed copy to my attention by the date which is five days from the date of this letter along with a good-faith deposit of $30,000.00. Upon receipt of the letter and the good-faith deposit, the Bank will proceed with the necessary due diligence to prepare and submit your loan request, provided, however that in any event, this term sheet will finally expire at 5:00 p.m. Pacific time on that date which is sixty (60) days from the date hereof. Your deposit is refundable, less the Bank’s out of pocket expenses incurred, should the Bank decline the financing opportunity discussed herein. I look forward to hearing from you and working with you on this and other transactions. Sincerely,

Andrea Ursillo Sr. Vice President Bank of America Merrill Lynch Community Development Banking Please submit a loan application as outlined above: Name: _________________________________ Title: _________________________________

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May 7, 2014 MURP Associates Masters of Urban Planning Department Luskin School of Public Affairs University of California, Los Angeles 337 Charles E Young Drive East Los Angeles, CA 90095 FOR ACADEMIC PURPOSES ONLY Re:

Bank of America Merrill Lynch Low Income Housing Challenge Construction and Permanent Loan for Xipe Totec

This letter is to confirm Union Bank’s strong support of MURP Associate’s proposed mixed use transit-oriented development project, Xipe Totec, located at 345 Fickett Avenue, Los Angeles, CA. As a bank strongly committed to the Los Angeles housing market, we support MURP Associate’s aim to provide permanent, affordable housing for transition-age youth, considered one of the most vulnerable populations in the city. Based on the information provided, Union Bank anticipates providing a construction and permanent loan under the conditions forth below. Construction Loan Amount: Interest Rate: Loan Term: Loan Amortization:

$3,561,838 30-Day LIBOR + 2.00% floating 24 months from the loan closing Interest only for 24 months

Permanent Loan Amount: Interest Rate: Loan Term: DSCR:

$3,561,838 Fixed Rate of 5.46% 30 years 1.20x

This letter is not intended as a commitment by Union Bank to finance the project; it is intended to summarize for discussion purposes the financing the Union Bank is considering at this time. Issuance of a commitment by Union Bank is subject to, among other things, the completion of the following items, and approval of the loan request under the Union Bankâ&#x20AC;&#x2122;s internal credit approval process. Union Bank may decline to approve the loan request. Upon your response to this letter and after providing any additional information which may be necessary, Union Bank will proceed with the necessary due diligence to submit the loan request. Thank you for considering Union Bank as a financing source for your project. We look forward to working with you. Sincerely,

Johanna Gullick Senior Vice President Union Bank Community Development Finance

Community Development Corporation 633 West Fifth Street, 29th Floor Los Angeles, CA 90071

May 6, 2014 MURP Associates Master of Urban Planning Department Luskin School of Public Affairs University of California, Los Angeles 337 Charles E Young Drive East Los Angeles, CA 90095 Re:

Bank of America Merrill Lynch Low Income Housing Challenge

This letter confirms U.S. Bancorp Community Development Corporation’s (USBCDC) interest in the mixed use transitoriented project being developed by MURP Associates at 345 Fickett Avenue and our consideration to provide New Markets Tax Credit (NMTC) financing for the construction of this development in the Boyle Heights neighborhood of Los Angeles, California. USBCDC supports MURP’s aim to provide permanent, affordable housing for transition-age youth, one of the most vulnerable populations in our city. With more than $13.1 billion in managed assets, USBCDC provides innovative financing solutions for community development projects across the country using state and federally sponsored tax credit programs. USBCDC commitments provide capital investment to areas that need it the most and have contributed to the creation of new jobs, the rehabilitation of historic buildings, the construction of needed affordable and market-rate homes, the development of renewable energy facilities, and the generation of commercial economic activity in underserved communities. USBCDC envisions providing equity capital in exchange for the tax credits generated from up to $5.15 million in Qualified Equity Investments (QEIs), which may result in approximately $1.07 million in net benefit to the project, subject to the NMTC parties involved and the NMTC financing structure. If NMTC allocation has not yet been identified for this project, USBCDC will gladly assist MURP Associates in securing the necessary allocation through our many long-time CDE partners and through consideration of bringing our own USBCDE NMTC allocation should we receive an award in a future round. Since the inception of the NMTC program, USBCDC has invested over $2 billion of tax credit equity into eligible projects, working with over 175 CDE partners to provide financial support to over 780 projects in communities of need. As the most active investor in the country, both in terms of dollars invested and transactions closed, USBCDC is deeply dedicated to economic revitalization and works diligently to embody the goals of the NMTC program. USBCDC’s participation in the financing of this project will be conditioned upon its review and approval of the following: (i) satisfaction of NMTC program criteria; (ii) financial projections prepared by a nationally recognized accounting firm; (iii) satisfactory leveraged debt sources for a leveraged NMTC model; (iv) creditworthiness of the guarantors and other relevant parties; and (v) any other material and legal documents. USBCDC approval is also subject to all applicable bank operating procedures and investment committee review requirements, as well as the project having all other financing in place to complete development. Thank you for giving USBCDC an opportunity to take your project under consideration and we look forward to working with you. Should you need additional information, please do not hesitate to contact me at (213) 615-6689. Sincerely,

Maria Bustria-Glickman Vice President & Senior Business Development Officer New Markets & Historic Tax Credit Investments FOR EDUCATIONAL PURPOSES ONLY

[For Academic Purposes Only]

May 5th, 2014 Eric Hubbard Jovenes Inc. 1208 Pleasant Ave Los Angeles, CA 90033 Dear MURP Associates, Thank you for taking an interest in working with Jovenes Inc. to help promote accessible housing and supportive care health services to transition aged youth (TAY) in the community of Boyle Heights. In accordance with our recommendations taken into consideration this letter is to certify that Jovenes Inc. fully supports the proposed development project located on 345 Fickett St. in Boyle Heights. This project falls in line with the mission of Jovenes Inc. to provide accessible permanent supportive housing for TAY from low income communities in Los Angeles. For more than two decades, weâ&#x20AC;&#x2122;ve obtained remarkable results with an overlooked and underserved population. The Mission of Jovenes, Inc. is to help homeless youth and at-risk families become productive and integrated members of the community. We provide comfortable, stable housing, access to life skills training, employment support and other community-based services in a safe, nurturing environment. Believing anyone can prosper given the right conditions, we deliver opportunities for personal growth and provide hope, comfort and support where once there was none. In addition to providing support for this project, Jovenes welcomes the additional housing of 58 units of permanent supportive housing for TAY in Boyle Heights As a leader in providing housing and supportive services to the TAY residents of Boyle Heights for over 25 years, we are currently looking to expand our level of services to this community. As such, we would like to enter into a partnership providing the services of one experienced and licensed case worker and one education specialist to be located on site to meet the demands of the TAY population located onsite. Per our preliminary discussions Jovenes would like to enter into an agreement to provide these services in exchange for the adequate work space housing of these staff members on site and prioritization of 25% of available units for TAY youth referred to the project from Jovenes Inc. Jovenes is excited at the opportunity to expand our services for this neighborhood and work in partnership with the 345 Fickett Development team to address the supportive social services needs of transitional age youth (TAY) located on site. Sincerely,

Eric Hubbard,

Jovenes Inc. Development Director www.jovenesinc.org - 1208 Pleasant Ave., Los Angeles CA, 90033 â&#x20AC;&#x201C; P 323.260.8035 â&#x20AC;&#x201C; F 323.260.8046

Raul Diaz Homeboy Industries Youth Center (323) 517-4218 1916 East 1st Street Los Angeles, CA 90033

May 5th, 2014 For Academic Purposes Only

Dear MURP Associates, Thank you for taking an interest in working with Homeboy Industries to help promote access to youth development and job training for youth in the community of Boyle Heights. In accordance with our recommendations taken into consideration this letter is to certify that Homeboy Industries fully supports the proposed development project located on 345 Fickett St. in Boyle Heights. This project falls within the scope of work that Homeboy Industries strives to provide through promoting youth development through job training to the re-entry youth population in Boyle Heights. Homeboy Industries offers over fifty classes/groups each week. Our academic curriculum provides support in high school equivalency test preparation and completion, college readiness, reading and writing, life skills. One of our most important partners, Learning Works Charter School (LWCS) specializes in the high school education component, while Homeboy Industries provides the wraparound services and part-time employment development of the students. Our core principles and commitment to those who need a second chance are a powerful match, making this a very strategic alliance. In addition to providing support for this project, Homeboy Industries welcomes the addition of the 3,920 sq. ft. youth center proposed on site for this development. As a leader in providing youth job training and reentry services to the residents of Boyle Heights for over 26 years, we are currently looking to expand our youth education and job training services to this community through the expansion of our youth center and the creation of a social entrepreneurial bike share & repair shop. As such, provided that tenant improvements can be made to the design and functional needs of our center, we would like to express serious interest as a potential tenant of the 3,920 square foot youth center proposed on site for this development. Per our preliminary discussions Homeboy Industries would like to enter into an agreement to rent the youth center space at a rate of $2.00 per square foot for a total of 5 years, with an option to renew our lease for an additional 5 years following. Homeboy Industries is excited at the opportunity to expand our services for this neighborhood and work in partnership with the 345 Fickett Development team to address the educational and employment training needs of transitional age youth (TAY) in Boyle Heights. Sincerely,

Raul Diaz Raul Diaz, Homeboy Industries, Youth Center Site Director

May 7th, 2014

For Academic Purposes Only

Todd Frank Ph.D. UCLA Department of Social Welfare 337 Charles E. Young Drive East Los Angeles, CA 90095 Dear MURP Associates, Thank you for taking an interest in working with the UCLA Department of Social Welfare. This letter is to certify that the Department of Social Welfare fully supports the proposed development project located on 345 Fickett St. in Boyle Heights. This project falls in line with the mission of the Social Welfare Department to provide quality research and teaching for policy makers to shape programs and practice in such areas as mental health, children and families, and long-term supportive care. In addition one priority of our program is to train the next generation of practitioners and leaders in the field, to lead in the development of knowledge for the social work profession and to strengthen social institutions and services in Los Angeles. UCLA Social Welfare faculty members are committed to placing their knowledge at the service of communities and empowering the disadvantaged and the vulnerable. In addition to providing support for this project, the UCLA Department of Social Welfare would like to enter into a partnership providing the services of two senior Masterâ&#x20AC;&#x2122;s Candidates of Social Welfare to assist in providing case worker supportive services. This commitment would be conditional provided our students would be under the supervision of Homeboy Industries as an approved internship partner offering a license MSW case worker to supervise. We are excited at the opportunity to work in partnership to provide quality case management support to the community of Boyle Heights and look forward to the creation of 345 Fickett Development project. Sincerely,

Todd Franke, Ph. D. Chair, UCLA Social Welfare Department

For Educational Purposes Only

May 6th, 2014 MURP Associates Masterâ&#x20AC;&#x2122;s Of Urban Planning Department Luskin School of Public Affairs University of California, Los Angeles 337 Charles E Young Drive East Los Angeles, CA 90095 RE: Bank of America Merrill Lynch Low Income Housing Challenge To: Whomever It May Concern I am writing to support the proposed project by MURP Associates at 345 Fickett Avenue in Los Angeles, CA 90033. The development project serves the current need for affordable housing in the neighborhood, especially for the population of transition age youths (TAY). Council District 14 gladly supports mixed use projects which provide permanent housing options for TAY in Boyle Heights. This project will offer 58 units of 100% affordable units that is much needed in the community. The Council Office is proud to support such a creative and socially responsible project in the neighborhood. Sincerely,

Kevin Ocubillo Planning Deputy, City of Los Angeles Council District 14