GREENVILLE COMMUNITY PARTNERSHIP

NRTC Program RFP - Housing and Economic Development

INTRODUCTION

The purpose of this RFP is to determine the eligibility and feasibility of a proposed Neighborhood Revitalization Tax Credit (NRTC) projects. It is designed to begin a discussion that may lead to the submission of a full application to the State Program for funding.

It is our intent to select one or multiple proposals for NRTC funding.

SUBMIT THE RFP BY 2PM, WEDNESDAY ON SEPTEMBER 25, 2013 VIA ELECTRONIC SUBMITTAL TO:

MWARD@GSECDC.ORG

For more information contact:

Matthew Ward, Assistant Project Manager

Garden State Episcopal CDC

514 Newark Ave

Jersey City NJ 07306

(201) 209-9301 ext. 315

PRE-APPLICATION INSTRUCTIONS

Eligible Applicants: Greenville Community Plan member agencies.

Available Funding: Up to $600,000

Eligible Activities: Within the Boundaries of the Greenville Community Plan, housing and/or economic conditions in an NRTC-approved neighborhood, including:

Production of new housing through rehabilitation or new construction

Preservation or upgrading of existing housing

Rendering existing housing more affordable

Planning

Design

Management of housing projects

Home buyer counseling

Rehabilitation or construction of commercial facilities

Assistance to small business entities

Measures to increase the income and labor force participation of neighborhood residents.

Application Check List

The NRTC RFP and its attachments can be submitted electronically in Microsoft Word format with attachments following the completed application. The following attachments are required as part of this RFP:

Application:

Saved RFP and Scanned Attachments

Signed application certification form

Organization:

Board list that reflects current members as January 1, 2013

Copy of Incorporation Documents

Copy of Current IRS Determination Letter (if applicable). Provide state equivalent

Copy of Certificate of Good Standing (within the last 3 months from State of NJ, Office of Commercial Recording)

Copy of Total Agency Budget (with sources and uses)

Copy of LAST 2 years (2012 and 2011) of Agency Audit -OR- 990 financial statements

Organizational Chart including partner activities (for Support Service and Other Activities only)

Copies of Annual Report, media, articles or letters of support (if available)

Project:

Copy of Funding Commitment Letters (if available) – for each source listed in the” Other Sources of Funding” section. This should include committed funding from private grants, private donor, lending institutions, and other State agencies such as, NJRA, HMFA, and NJEDA.

Map with Location of Sites

Photos of Sites and Schematic Design (if available)

Project Budget:

Development Budget with Sources and Uses, Permanent and Construction Financing

Per Unit and Per Square Footage Development Costs for each line item

Development Fee- Max 10%

Maximum Income of Recipients: 80% of AMI, per USHUD HOME Program

Rent-Roll with Unix mix, Unit Size, Gross rents, Utility Allowance and Net Rents

10 Year Operating Budget with Mortgage Calculation

Buyer Affordability Analysis

Project timeline from concept to completion with all development tasks.

Staff Resumes Assigned to Project and Job Description/Consultant Resumes and Experience

Form of site control (if applicable)

Copies of appraisals, opinion on Value or comparables for acquisition costs, proposed sales, or rent levels. Attach market study if available.

Professional/Project References. Highlight any projects completed in Jersey City or in the Greenville neighborhood.

Address and Photos of Recently Completed Projects of Similar Scale and Scope

Evaluation Criteria

The NRTC RFP will be evaluated on the following criteria and point system. The following categories are weighted with points. Under each category are a number of questions for the steering committee to consider when reviewing your RFP in order to assign a point value to each category. Please address some of these questions in your application to strengthen your RFP.

A. Eligibility (Yes/No)

Are all activities within or servicing residents of the neighborhood?

Does the plan satisfy a goal in the Community Plan?

Does the proposed activity met NRTC eligibility requirements?

Is the application complete?

B. Need for Project / Impact (30 points)

Range of Affordability- 7 points possible:

Home Ownership	Rentals

<30% of AMI-	0 points	6 points

30-50% AMI-	5 Points	6 points

50-80% AMI-	7 points	5 points

80%+ AMI-	6 points	4 points

Number of Bedrooms- (5 points possible)

2 points

2	3 points

3+	5 points

Neighborhood Impact- 10 points possible

Area targeted by City (redevelopment zone)

Non-impacted area

Foreclosure, Vacant lots/Structures, Industrial/Environmental sites

Type of housing-8 points possible (depends on need of neighborhood, use discretion)

Senior vs. Family

Homeownership vs. Rental

Transitional vs. Permanent

Including but not limited to degree to which the project is addressing the goals of the community plan and needs on the neighborhood:

Who is being served?

Why does the neighborhood in need on the proposed services?

What impact does this program have on the greater community?

Are the proposed services currently being provided to the neighborhood?

Does the posed services promote GCP’s image to the larger city, county and/or state?

C. Capacity of Applicant (20 points)

Past Projects-	10 points

Staff Skills and Qualifications-	5 points

In-house project management	5 points

Ability to organize, manage and complete the proposed activities

Are the goals and outcomes proposed achievable by this organization?

Has the organization managed projects of similar scale and scope?

Is the timeline and milestones clear?

Can the program be 50% complete before year 1?

Is the project untested?

Is the project an expansion of existing services?

Does the annual report indicate a comparable capacity?

D. Financial Viability of Applicant (15 points)

Over 1 year experience-	4 points

5-10 years experience-	8 points

15+ years experience	10 points

Equity Stake/Ownership	5 points max

Degree to which the applicant has demonstrated financial soundness and commitment

Is the organization in good financial standing and able to secure financing for housing and economic development projects?

Financial Feasibility (20 points)

<$50,000 per unit	20 points

$50,001-$75,000/unit	15 points

$75,001-$100,00/unit	10 points

>$100,000/unit	5 points

Project costs consistent with industry standards and projected outcomes

What is the typical cost per unit/square feet for proposed activities?

Are the activities and outcomes achievable with this amount of funding?

Does the applicant have commitment letters?

Can the applicant leverage other funds for this program?

Can the applicant bring additional investors?

Strength and viability of development proforma and assumptions.

Project Readiness (15 points)

Degree to which the applicable is prepared to proceed with the project.

City Approvals-	5 points

Site Control/ Adequate Supply (for REO projects)-	5 points

Diversity of Financing

APPLICATION CERTIFICATION

Name of Applicant:	Garden State Episcopal Community Development Corporation
Address:	514 Newark Avenue
City:	Jersey City, NJ	Zip:	07306
Internet Website:	www.gsecdc.org
Name of Contact Person:	John Restrepo, Director of Housing and Community Development 201-209-9301 x304
Name	Title Phone
Email:	jrestrepo@gsecdc.org
Name of Chief Executive Officer:	Carol Mori, Executive Director 201-209-9301 x313
Name Title Phone
Email:	cmori@gsecdc.org
Name of Chief Financial Officer:	Donna Matozzi, Finance Director 201-209-9301 x305
Name	Title Phone
Email:	dmatozzi@gsecdc.org
Project Information
Name of Project:	Greenville Community Housing Partnership
NRTC Funding Request:	$ 540,000
Use of NRTC funding (Check all that apply):
Housing:	Economic Development:
Pre-development Acquisition Planning and Design Legal expenses Permits Appraisal/Market Study Other: Unit Type: Home ownership Rental Number of Units: Home Ownership: Rental: 10	Development New construction Moderate Rehab Gut Rehab REO Single Family Two Family Multifamily Condominium Mixed Use	Building Information: Elevator Refrigerators Electric Pre-fab Commercial Component Ranges Air Conditioners Gas Oil Dishwashers	Job training Education Commercial Business Improvement Business loans Small Business Incubation Centers Child Care Facilities Budget and Housing Counseling Job Search Program Transportation Program Other:___________
Affix Agency Seal Here CERTIFICATION This is to certify that the information and data provided in response to this instrument is accurate and complete to the best of my knowledge. Signed: __________________________________ Title: Director of Housing and Community Development Date: 9/23/13

ORGANIZATIONAL DESCRIPTION

Organization Capacity
What is your organization’s mission?
GSECDC's mission is to "Create healthy neighborhoods through community development initiatives by partnering with government, residents, businesses, and other faith-based organizations to best serve the most vulnerable in our society."
Please list some of your organization’s accomplishments or awards -or- attach copies of articles and awards.
GSECDC serves over 2,000 people annually through three core programs. Serving close to 600 people annually, the Division of Housing and Community Development (DHCD) provides: affordable housing (rental, for sale and special needs) and mixed use development, asset management, and neighborhood planning initiatives. GSECDC’s has been the recipient of the 2006 Jersey Journal Hero in the Religious section, 1 of 3 Honorees at the 2008 Mayoral State of the City Address, 2009 Developer of the Year at Supportive Housing Conference, 2009 Local Initiatives Support Corporation’s Neighborhood Impact Award, and the 2011 Jersey City Green Award from the Jersey City Redevelopment Agency. GSECDC also offers a host of social services and workforce development programs through the Division of Supportive Housing and Social Services and the Customer Service Skills Center that serve over 1,500 people annually.
Describe your experience in carrying out the proposed activities. Be specific about projects/programs completed to date. List project/program names, outcomes and funding sources used to carry out those activities. Description of your Agency’s financial management and administrative systems. Explain your Agency’s track record of successfully carrying out activities similar to the ones proposed in this application.
To date, the GSECDC Division of Housing and Community Development has created 228 affordable housing units by redeveloping 84 abandoned sites with an investment of close to $37 million from the private and public sector. This has included funding from the Jersey City HOME Program, the Affordable Housing Trust Fund, US Department of Housing and Urban Development, New Jersey Department of Community Affairs, the New Jersey Housing and Mortgage Finance Agency, TD Bank, Bank of America, PNC Bank and other major banking institutions. This includes the development of 24 units of supportive housing, 36 home ownership units, 192 mixed income rentals and 2,500 sq. ft. of commercial space. This included rescuing 26 foreclosures, 44 chromium contaminated lots, an abandoned school house, and the 1st project on Monticello Avenue in over 20 years at 167-169 Monticello Avenue. Currently we have 12 units under construction and 53 new units in the pipeline. Most of work takes place in the Greenville and Bergen Hill sections of Jersey City. Attached is a detailed description of projects completed and in the pipeline. GSECDC is effective because it is equipped with seasoned community development professionals that bring a host of talents, experience and key relationships to the table. The Division of Housing is comprised of four full time housing professionals, with over 500 scattered site units completed of combined experience and a background in Urban Planning. The Division Director has been in the industry for over 14 years and sucessfully completed home ownership projects in Jersey City and Newark of similar scope. Our professional real estate staff manages all the phases of the real estate development process including concept de-velopment, feasibility studies, site acquisition, financial packaging, project management, and sales rent-up. GSECDC’s Division of Housing and Community Development is comprised of 1 Full Time Director, 2 Full Time Project Managers, and 1 FT Assistant Project Manager. GSECDC does not rely on consultants to manage the development process. Our staff manages all the phases of the real estate development process including concept development, feasibility studies, site acquisition, financial packaging, project management, and sales rent-up. GSECDC has installed systems that deal with the regulatory compliance of all programs. Performance measurement, being an integral part of the system that is utilized to measure the benefits of the programs and track the progress of projects. In using federal funds, GSECDC is accustomed to reporting and documentation requirements of all programs to verify the achievements of program goals and the completion of activities are in compliance. All activities, personnel, procedures, expenditures, and results are documented properly. In our management practices, we support cooperative, problem-solving relationships among all stakeholders to make sure the process to adhere to regulatory compliance and that we accomplish the timely performance of projects within budget. In such, we maintain open and frequent communications among all participants to follow financial management requirements, procurement and contracting requirements, property management requirements, record-keeping and reporting requirements, administrative and program requirements, audit requirements and close out requirements. GSECDC has an accounting system that used to allocate and track funding. Our financial accounting system captures all revenues and expenditures. Our purchasing & accounting system provides detailed information on goods and services. Our payroll system provides information on individual faculty and staff payroll including current funding allocation and funding history by each payroll period and by budget number. Our budget system also allocates and tracks funding.

Agency Information

Compliance Statement
Non-profits are required to be incorporated and in compliance with all legal statutes and reporting requirements with the State of New Jersey.
Please indicate date of Incorporation. 12/24/1986
Have there been any changes to the organization’s incorporation status since the agency’s NRTC Plan approval date? If yes: please indicate changes below; and submit a copy of the revised incorporation document.
No.
Are you in “Good Standing” with the Department of State? Attach a copy of the agency’s Certificate of Good Standing. Certificate must be current as of 3 months.
Yes
Has the agency adopted by-laws that are consistent with its articles of incorporation?
Yes

PERSONNEL – Total Agency

Compliance Statement
Agency’s personnel procedures must adhere to state and federal requirements governed by grants.
What is the current staff level, both part time and full time?
Full time	29	Part time	4
Please indicate if there have been any staff changes in this fiscal year. If yes, what are the changes and the reason for the changes?
None

Fiscal

Compliance Statement
The agency maintains an adequate financial management system as required by the terms and conditions of the grant agreement and all applicable amendments in compliance with State and Federal laws and regulations.
Please submit total agency budget with funding sources and uses.
Please submit 2 years of audits or 990 forms.
When was the last IRS 990 filed or submitted to the IRS? Date: _10/22/12____________
When was the last audit for your agency conducted? FY: 2013_________ Please indicate when is the expected date of the next audit to be completed. Date: May 2014____
Were any internal control or compliance findings stated in the audit? If yes, please describe the findings and indicate the status of the corrective action plan. Attach a copy of said plan.
There are no findings or questioned costs
Did the agency incur a deficit at the end of its fiscal year? If yes, how much and how will the agency reduce the deficit.
No
What process does your agency utilize in allocating funds to each program? Most Funds are allocated to each program directly. There are some funds that are allocated based on number of units in the supportive housing facilities. The accounting system is a Fund Accounting system that captures and reports data by program, funding source, location and type of service.

HOUSING AND/OR ECONOMIC DEVELOPMENT: SUMMARY DESCRIPTION

Specifically describe the project activity your agency intends to seek NRTC funding. Complete this form for each project activity in this pre-application. Attach maps and photos of project site.

Project/Activity Name:	Type:	Funding Requested:
Greenville Community Housing Partnership	$540,000.00
Briefly Describe the Project for which you are seeking funds. Project Description - Acquisition of 77 Bostwick Avenue, 474 Ocean Avenue and 480 Ocean Avenue for the development of 10 units of mixed income affordable rental housing for moderate and low income households. The scope of construction for 77 Bostwick Avenue is gut rehabilitation and new construction at the Ocean Avenue sites. Total Cost of Project: $2,816,744 Requested Amount: $540,000 Other Sources: $2,216,744 Total Per Unit Per Square Foot Cost of Land/Building $ 263,500 $ 26,350 $ 26.79 Construction $1,822,505 $182,250 $ 185.27 Soft Cost $ 206,500 $ 20,650 $ 20.99 Block/Lot 77 Bostwick Avenue-Block 23501/Lot 8 474 Ocean Avenue- Block 25201/Lot 71 480 Ocean Avenue- Block 25201/Lot 1 Current Owner Information 77 Bostwick Avenue- Ballente Realty Associates 474 Ocean Avenue- Jersey City Redevelopment Agency 480 Ocean Avenue- Simon, Neustein (under condemnation by JCRA) Current Zoning/Proposed Zoning. Is there a need for a variance or is the use conforming? 77 Bostwick Avenue is confirming and as of right. The proposed uses do not increase density of existing use. Therefore, we won't be required to go before the Planning Board. An approval from the Zoning Officer is sufficient and expedites the process for redevelopment of this site. The proposed uses at the Ocean Avenue sites are also allowable and conforming. The max density is 50 units per acre or 2.3 units at 474 Ocean Avenue. We are proposing 2 units. The max density at 480 Ocean Avenue is 1.6 units, we are proposing 2. Number of Units10 Unit Mix 6 two bedrooms, 4 three bedroom Size of Units690 sq. ft. for 2 bedrooms and 1100 for 3 bedrooms # of ADA Units3 Any known environmental Issues and plan for remediation? Like other properties this age we expect that 77 Bostwick Avenue will have an above ground storage tank, asbestos in the roof, asbestos in the basement and lead throughout the units. All of these issues will be resolved during construction. The Ocean Avenue sites have underground storage tanks which will be removed during construction. Is the site historical or in a historic district: No Any known barriers to the project: None Describe or attach pictures of proposed finishes/typical finishes: Attached you will find pictures of proposed finishes, which will be similar to a recently completed project of 12 unit rentals at 242 Bergen Avenue. Plan Alignment - How does the activity align with the NRTC neighborhood plan? This effort will reduce the stock of abandoned multifamily structures in the neighborhood and the Ocean Avenue commercial corridor. Over the next 5 years, the goal under Residential and Community Development Strategies is to reduce abandoned properties in the neighborhood by 44 properties. As of May 2012, there were 147 abandoned properties in the GCP area which make up 21% of the city's inventory in an area that makes up less than 5% of the city's land mass. It also supports the Corridor Improvement Strategies that aim to reduce the amount of abandoned buildings on Ocean Avenue. GSECDC will acquire 3 vacant multifamily properties that are hard to develop because the market does not support the cost to improve the properties. In order to develop these properties subsidy is needed. GSECDC will newly construct or rehabilitate them to produce 10 affordable rental units. Multifamily rentals outside of Low Income Housing Tax Credit (LIHTC) deals are hardest to develop because they require deep subsidy. Small multifamily rentals are not a good fit the LIHTC program and sit vacant in the community for many years. This effort takes advantage of deep subsides being provided by the NJ Department of Community Affair's Neighborhood Enhancement Program which will fund most of the development costs. This effort will also address several affordability issues as it creates affordable rental opportunities for low and moderate income households. This project will create 10 rental units towards our goal of increasing the stock of affordable rental housing by 85 units.
Project Description - How will the proposed activity contribute to improving and revitalizing the neighborhood? (Describe: physical conditions, economic conditions, social conditions, population (including low/moderate income). How will the proposed activities contribute to improving and revitalizing the neighborhood? Describe: physical conditions, economic conditions, social conditions, population (including low/moderate income). Ensure data used to support revitalization activities is current. American FactFinder, at the US Census Bureau, is recommended as a data source. Data from the 2010 Census and from the most recent American Community Survey, 5-year estimate should be obtained. You may access American FactFinder at: http://factfinder.census.gov. The Greenville Community Housing Partnership includes the acquisition of 3 vacant multifamily structures located at 474 Ocean Avenue, 480 Ocean Avenue and 77 Bostwick Avenue. The properties are located within 5 blocks of each other. Two of the sites are located in the Ocean/Bayview Redevelopment area on the same block. GSECDC plans to develop 2 new three bedroom rentals at 474 Ocean Avenue which will rent for $1,065 per month (after utility allowance), and 2 new three bedroom rentals at 480 Ocean Avenue which will rent for $798 per month (after utility allowance). GSECDC will also create 6 units at 77 Bostwick Avenue with two bedroom units renting at $700 per month (after utility allowance). Comparatively, the fair market rent in Jersey City for a 2 bedroom apartment is $1,322 (not including utilities), which means a savings of $622 per month ($7,464 increase in disposable income) for low income units at Bostwick Avenue. The fair market rent for 3 bedroom rentals in Jersey City is $1,682 (not including utilities). Therefore, tenants will realize a savings of $884 per month on low income units and $617 per month on moderate income units creating disposable income of at least $7,500 annually. This dynamic helps families reach a healthy balance in their personal finances in the short and long term, allows them to provide better upkeep to their apartments and to contribute more to the local economy. Redeveloping these properties will stimulate values in an area that suffers from high concentrations of foreclosures. Greenville community suffers from a disproportionate share of the City’s foreclosure stock. According to the Jersey City Department of Housing, Economic Development and Commerce 495 properties in Jersey City fell into foreclosure between January 2011 and September 2012. The same data showed that 57% of all foreclosures fall within Greenville zip codes 07304 and 07305. These communities have experienced an average of $130,000 in negative equity to existing home ownership units in the past 4 years. These properties may drive down property values depleting the equity of adjacent and comparable properties. Also, vacant properties foreclosed or not become a nuisance attracting crime and other illicit activity (fires, rodents, weeds, etc.). This makes our focus on the redevelopment of abandoned properties in foreclosure stricken communities particularly important. Affordability Issues- The area median income in Greenville of $33,000 is low when compared to $54,280 for Jersey City and $69,811 for the State (2005-2009 & 2006-2010 ACS). According to the 2012 HUD Low- and Moderate-Income Summary Data (LMISD), approximately 5,143 households, or 83.8% of the total households, within Greenville have an income less than 80% of the Area’s Median Income (AMI). As such, these households are considered Low- and Moderate-Income households and qualify for this housing. There is a need for affordable rental opportunities in Greenville. An estimated 55% of renters pay more than 30% of their income toward rental housing. More alarming, 1,455 households are severely cost burdened spending more than 50% of their income on rent. This indicates that a majority of the residents in Greenville do not have disposable income to spend on luxuries like new clothes, eating out, or going to a movie. Based on the median income of roughly $33,000, the average household cannot afford housing costs above $847 per month for rentals. Over 40% of the population has an annual income of $25,000 and cannot afford housing costs over $500 a month. GSECDC is developing rental opportunities that address these dynamics and provide housing options to mixed income populations including existing residents and people interested in moving into the neighborhood. Most households in Jersey City will benefit from the creation of more affordable housing. According to the US Census, the median income citywide is $51,826. Over 45% of the City’s population earns less than $50,000 a year. When paying 30% of income for housing costs (rental or for sale), the bulk of the population should not pay more than $1,295 towards housing costs, $387 less than the fair market rate. The NLIHC estimates that households must earn a wage of at least $26.78 per hour to afford these housing costs. Comparatively the State’s minimum wage is only $7.25. In order to afford the average housing costs, a household earning minimum wage must work 137 hours per week. Statistics show that over half of Jersey City renters pay more than they can afford for housing.
Impact Statement - Explain why this activity would not proceed without NRTC Funds. The rental market in the area does not support the cost for rehabilitation or new construction at the target sites. The neighborhood rents would convert to a mortgage that only covers a small portion of development costs. Furthermore, the sites are not positioned for condominium development because each of the sites do not allow for the development of 12+ units making it almost impossible for the end user to secure a mortgage and the sites are no big enough for a tax credit deal. Moreover, the Ocean Avenue sites are not ideal for two family development for sale because of location. Therefore, the highest and best use is the development of affordable rental housing with subsidy which helps offset the cost of development to bring these properties back to function. This project also takes advantage of the unique opportunity to secure Neighborhood Enhancement Program funds from the State which help cover the bulk of development costs for the target sites. Typically, smaller rental properties are not positioned to secure tax credits and due to lack of local or state subsidy funding, they remain dormant. Subsidy for $540,000 ($54,000 per unit) from the NRTC program is required in order offset costs so that we can offer this product to low and moderate income households with minimum incomes of $34,000 (50-66% of the area median income) annually while paying only 30% of income towards housing costs.
Project Sustainability – Explain how the activity would continue after the NRTC grant ends. The apartments are priced to assure that the tenant comfortably affords the rent without using more than 30% of income to cover all housing costs. The net rents of $700, $798, and $1065 include a utility discount. The quality of the units and the affordable pricing helps assure a low vacancy rate as the units are affordable to the bulk of the local and citywide population, so that operating budget projections are maintained to assure proper maintenance of the properties. Most of the time, the units remain occupied year round because the FMR for a similar unit is hundreds of dollars more than our pricing. As a result, the renters experience a significant increase in disposable income which allows them a better lifestyle. As a result of such rentals, most households increase their disposable income by at least $7,500 annually which is a major draw for attracting tenants. Per our experience at the recently completed 242 Bergen Avenue (12 units in the same neighborhood, similar scope), the units lease expeditiously because of the quality delivered, size of the units, amenities provided, and the price sensitivity for the target population. The units are close to transportation and other necessary community assets for families to stay in the community in the long run. Properties will be managed by Landex Corporation which currently manages over 120 rental units for GSECDC in this area. All properties are operating excellently fiscally and physically, in accordance with ratings from the NJ Housing and Mortgage Financing Agency management performance reviews.

HOUSING AND/OR ECONOMIC DEVELOPMENT: PARTNER INFORMATION

Complete this form for each Partner with which the agency will work with each project activity.

Partner Organization:	Garden State Episcopal Community Development Corporation
Contact Name:	John Restrepo	Title:	Director, Housing and Community Development
514 Newark Avenue	Jersey City	NJ	07306
Address	City	State	Zip
201-209-9301 X304	201-659-1028	jrestrepo@gsecdc.org
Phone	Fax	E-mail
Name of the Program/Project Partner will be responsible for:	Greenville Community Housing Partnership
Describe the role and experience of the organization implementing this activity (For construction/rehab housing or economic development project, who are the development/professional partners? Include resumes of your development team.) Partner Information – (please complete this form for each proposed project activity) To date, Garden State Episcopal Community Development Corporation (GSECDC) has completed 228 units of mixed income affordable housing units by redeveloping over 84 scattered sites that involved $37 million in financing from local, state, federal and private sources including the Jersey City HOME program, the NSP Program, the Jersey City Affordable Housing Trust Fund, Low Income Housing Tax Credits, NJDCA, NJHMFA, and private capital. GSECDC is very experienced in the acquisition, rehabilitation and new construction of multifamily structures: 1) 242 Bergen Avenue- 12 affordable rental units completed in September 2013 2) 84 Seaview Avenue- 4 affordable rental units under construction to be completed by December 2013 3)155-157 Bergen Avenue- 8 affordable rental units completed in 2010. 4) 109-11 Old Bergen Road- 6 affordable rental units completed in 2010. With the goal of “Building Strong Communities,” our housing development approach is structured to meet the multi-faceted and ever-changing needs of specific neighborhoods addressing a multitude of problem property types and conditions. In the 1990s, in the absence of private investment in Jersey City’s most distressed community, GSECDC completed the adaptive re-use of an abandoned school building into 28 residential units and redeveloped 44 vacant parcels across a 10 block area producing 88 new rental units to stabilize residential corridors. In the past 10 years, GSECDC has focused on producing home ownership opportunities for first time home buyers and more rental options for a wide range of populations, while eliminating eyesores that have plagued neighborhoods for decades. Since 2007, understanding that home ownership is a critical element to neighborhood preservation we completed 63 new home ownership units. GSECDC is effective because it is equipped with seasoned community development professionals that bring a host of talents, experience and key relationships to the table. The DHCD is comprised of four full time housing professionals, with over 500 scattered site units completed of combined experience and a background in Urban Planning. The Division Director has been in the industry for over 13 years and successfully completed similar projects in Newark and Jersey City. Staff has been able to manage shifting conditions in the national economy, the local market, and reduced investments from government to minimize impact on the progress of the communities we serve and use real estate production as a form of economic development. Our team continues to stay at the forefront in addressing the unique needs of communities, particularly during this prolonged recession where new issues such as a concentration of foreclosed homes in low income communities have threatened decades of investments and progress. Due to our commitment to efficiency and quality, the organization has developed a reputation with federal, state and local government partners and private sector investors, as a results oriented organization that always gets the job done. This has allowed us to work together to plan strategically and implement initiatives that are cost effective, maximize impact and are sustainable in the long term. We are responsible for assuring the performance of all development team members and will hire a general contractor for construction services. We manage all stages of the development process and do not rely on consultants for financial structuring or project management. Development team members include: Architect: Inglese Architecture and Engineering Attorney: Eugene O’Connell Environmental Consultant: Lighthouse Environmental Contractor: Subject to bids Property Manager: Landex Corporation

HOUSING AND/OR ECONOMIC DEVELOPMENT: GOALS AND OUTCOMES

Goals and Measurable Outcomes – (please complete this form for each proposed project activity) An objective is a distinct, quantifiable element that must be achieved in order to attain the goals of a project. Be brief and concise.

Objective - short description of each proposed activity

Measurable Outcome – a quantifiable unit of measurement for achieving the objective

Method(s) – describe how the objective will be achieved/completed

Evaluation – describe how the measurable outcome will be proven to be successfully completed

Complete this form for each project activity.

Objective	Measurable Outcome	Method	Evaluation
To Create Affordable Housing	Acquire 6 scattered site single family homes for rehab to create affordable housing	Work with a real estate agent or the City’s foreclosures list to identify homes inexpensive property within target neighborhood to rehab. The rehab homes will be sold to qualifying families in the 50-80% median range.	At the end of construction, Certificates of Occupancies will be obtain and submitted to DCA.
To create affordable rental housing for 10 families and to rid the community of 3 vacant eyesores	Acquire 3 vacant multifamily structures for rehabilitation or new construction to create affordable housing for low and moderate income tenants.	77 Bostwick Avenue is under contract and the JCRA will designate GSECDC as developer for the Ocean Avenue sites. The JCRA will also demolish existing properties and deliver the sites vacant. GSECDC will manage the development process and rent the units to low and moderate income families that earn between 50-80% of the AMI to qualify.	At the end of rehabilitation or new construction GSECDC will secure Certificates of Occupancy and deliver them to DCA.

HOUSING AND/OR ECONOMIC DEVELOPMENT: BUDGET

Complete this form for each project activity.

For Housing and Economic Development projects that are construction related, the total construction budget with all sources of funding must be included.

Attach a 10-year operating pro-forma with mortgage calculation, rent-roll and utility allowances for all rental projects (if applicable.)

Attach a Buyer Affordability Worksheet for all Home Ownership Projects

Include Sources and Uses, including construction and permanent financing

Use 2013 US Department of Housing and Urban Development HOME Program Income Limits, Rent Levels and 2012 Utility Allowance Worksheets for the budget

Developer Fee Max: 10% of Total Development Costs. Note: NRTC funds are not to be utilized for payment of developer fee. It is assumed that developers will secure other sources of funding that will distribute developer fee.

Line Item Description: provide a short description for the budget item

Line Item Justification: provide a more detailed description for the budget item

474/80 Ocean Avenue
Development Budget
Line Item Description	Per Unit	Per Square Foot	Budget	Line Item Justification
Total Acquisition	$ 18,750	$ 14	$ 75,000	discounted acquisition cost from JCRA
Construction
Demolition- by JCRA	$ -	$ -	$ -
New Construction, General Requirements, and Contractor Overhead-	$ 165,751	$ 125.57	$ 663,005	Cost of new construction, multifamily in region
UST Removals	$ 5,000	$ 135	$ 20,000	Existing condition.
Fire Suppression System	$ 4,500	$ 3	$ 18,000	Required by building code
Sewer Ejector Pump	$ 5,000	$ 4	$ 20,000	Required by building code
Utility Connection Fees/ Building Permits	$ 3,750	$ 3	$ 15,000	JCMUA/Passaic Valley, Building Dept.
Subtotal	$ 184,001	$ 139	$ 736,005
Fencing and Clean up	$ 625	$ 0	$ 2,500	Security pre construction
Contingency	$ 9,200	$ 7	$ 36,800	5% of construction, new
Total Construction	$ 193,826	$ 147	$ 775,306
Soft Costs
Appraisal & Market Study- Acquisition/Construction Loan	$ 1,875	$ 1	$ 7,500	Appraisal for acquisition and financing
Architectural and Engineering	$ 8,750	$ 7	$ 35,000	3% of construction costs
Marketing	$ 1,250	$ 1	$ 5,000	Marketing for lease up
Legal Fees	$ 4,375	$ 3	$ 17,500	Predevelopment financing, planning board approval, acquisition, construction/permanent financing, and tax abatement
Surveys	$ 1,500	$ 1	$ 6,000	Required, cost of 2 sites.
Phase I Environmental/Tank Sweep	$ 1,750	$ 1	$ 7,000	Required, cost of 2 sites.
Geotechnical Study	$ 1,750	$ 1	$ 7,000	Required for foundation design
Cost Certification	$ 1,875	$ 1	$ 7,500	Required by funders
Soft costs Contingency	$ 2,375	$ 2	$ 9,500	Typical 5% of soft costs
Total Soft Costs	$ 25,500	$ 19	$ 102,000
Carrying and Financing
Interest Reserve- Construction	$ 3,750	$ 3	$ 15,000	8% on construction principal
Interest Reserve - Predevelopment	$ 7,500	$ 6	$ 30,000	8%of acquisition and predevelopment costs
Predevelopment Legal, Commitment Fees	$ 1,250	$ 1	$ 5,000	Required for closing on funds
Planning Board Application Fees	$ 500	$ 0	$ 2,000	Required for planning approval
Site Security	$ 750	$ 1	$ 3,000	Post construction/Pre lease security
Real Estate Taxes-18 months	$ 5,000	$ 4	$ 20,000	Cost of taxes during construction
Compliance Officer for PILOT	$ 2,500	$ 2	$ 10,000	Required for tax abatement to monitor WBE/MBE
Utilities after substantial completion	$ 875	$ 1	$ 3,500	Cost of utilities post completion/prelease
Insurance (GL And BR)-18 months	$ 4,375	$ 3	$ 17,500	Cost of builders risk and general liability insurance
Title and Recordation	$ 2,000	$ 2	$ 8,000	Typical cost for acquisition title insurance
Construction/Permanent Loan Commitment Fees	$ 1,250	$ 1	$ 5,000	Typical cost for financing
Construction Loan Finance Fees (Planning, Environmental Review and Lender Legal Costs)	$ 1,250	$ 1	$ 5,000	Typical cost for financing
Total Carrying and Financing	$ 31,000	$ 23	$ 124,000
Subtotal	$ 269,076	$ 204	$ 1,076,306
Development Fee and Escrows
Development Fee	$ 26,908	$ 20	$ 107,631	10% of total cost
Working Capital-	$ 1,857	$ 1	$ 7,428	3 months of operations.
Total Development Costs	$ 297,841	$ 226	$ 1,191,364
Construction Sources of Financing
Neighborhood Enhancement Program	$ 225,000	$ 170	$ 900,000
NRTC Funds	$ 49,091	$ 37	$ 196,364
Construction Loan	$ 23,750	$ 18	$ 95,000
Total Construction Sources of Financing	$ 297,841	$ 226	$ 1,191,364
Permanent Sources of Financing
Neighborhood Enhancement Program	$ 225,000	$ 170	$ 900,000
NRTC Funds	$ 49,091	$ 37	$ 196,364
Mortgage	$ 23,750	$ 18	$ 95,000
Total Permanent Sources	$ 297,841	$ 226	$ 1,191,364

77 Bostwick Avenue
Development Budget
Line Item Description	Per Unit	Per Square Foot	Budget	Line Item Justification
Total Acquisition	$ 31,416.67	$ 41.36	$ 188,500	Cost of private purchase
Construction
Demolition, Asbestos Removal, Gut Rehab- General Requirements, and Contractor Overhead	$ 144,772.73	$ 190.62	$ 868,636	Typical cost, gut rehab
Fire Suppression System	$ 4,500.00	$ 5.92	$ 27,000	required by code
Sewer Ejector Pump	$ 3,333.33	$ 4.39	$ 20,000	required by code
Utility Connection Fees/Building Permits	$ 4,166.67	$ 5.49	$ 25,000	typical cost JCMUA, Passaic Valley and Building
Subtotal	$ 156,772.73	$ 206.42	$ 940,636
Debris Removal	$ 1,666.67	$ 2.19	$ 10,000	Site condition to be removed
Fencing/Security	$ 416.67	$ 0.55	$ 2,500	Security preconstruction
Contingency	$ 15,677.27	$ 20.64	$ 94,064	10% on rehab, typical
Total Construction	$ 174,533.33	$ 229.80	$ 1,047,200
Soft Costs
Appraisal & Market Study- Acquisition/Construction Loan	$ 1,250	$ 2	$ 7,500	for predevelopment and permanent financing
Architectural and Engineering	$ 7,500	$ 10	$ 45,000	3% of construction
Marketing	$ 1,333	$ 2	$ 8,000	Marketing for lease up
Legal Fees	$ 3,333	$ 4	$ 20,000	Predevelopment financing, planning board approval, acquisition, construction/permanent financing, and tax abatement.
Surveys	$ 583	$ 1	$ 3,500	Needed for architectural design
Phase I Environmental/Tank Sweep	$ 750	$ 1	$ 4,500	Funder requirement
Geotechnical Study	$ -	$ -
Cost Certification	$ 1,083	$ 1	$ 6,500	Funder requirement
Soft costs Contingency	$ 1,583	$ 2	$ 9,500	Typical 5% of soft costs
Total Soft Costs	$ 17,417	$ 23	$ 104,500
Carrying and Financing
Interest Reserve- Construction	$ 3,333	$ 4	$ 20,000	Interest on construction financing
Interest Reserve - Predevelopment	$ 5,000	$ 7	$ 30,000	Interest on predevelopment and acquisition
Predevelopment Legal, Commitment Fees	$ 833	$ 1	$ 5,000	Required for financing closing
Planning Board Application Fees	$ 417	$ 1	$ 2,500	Require for planning approval
Site Security	$ 417	$ 1	$ 2,500	Site security post construction/prelease
Real Estate Taxes-18 months	$ 2,500	$ 3	$ 15,000	Taxes during development/construction
Compliance Officer for PILOT	$ 1,667	$ 2	$ 10,000	Required for tax abatement
Utilities after substantial completion	$ 583	$ 1	$ 3,500	Utilities post construction/prelease
Insurance (GL And BR)-18 months	$ 3,333	$ 4	$ 20,000	cost of builders risk and general liability
Title and Recordation	$ 1,333	$ 2	$ 8,000	cost of title insurance for acquisition
Construction/Permanent Loan Commitment Fees	$ 833	$ 1	$ 5,000	Typical financing cost
Construction Loan Finance Fees (Planning, Environmental Review and Lender Legal Costs)	$ 833	$ 1	$ 5,000	Typical financing cost
Total Carrying and Financing	$ 21,083	$ 28	$ 126,500
Subtotal	$ 244,450	$ 322	$ 1,466,700
Development Fee and Escrows
Development Fee	$ 24,445	$ 32	$ 146,670	10% of total cost
Working Capital- 3 months operations	$ 2,002	$ 3	$ 12,010	3 months operations
Total Development Costs	$ 270,897	$ 357	$ 1,625,380
Construction Sources of Financing
Neighborhood Enhancement Program- 2 Bedrooms	$ 175,000	$ 230	$ 1,050,000
NRTC Funds	$ 57,273	$ 75	$ 343,636
Jersey City HOME/AHTF	$ 28,624	$ 38	$ 171,744
Construction Loan	$ 10,000	$ 13	$ 60,000
Total Construction Sources of Financing	$ 232,197.19	$ 357	$ 1,625,380
Permanent Sources of Financing
Neighborhood Enhancement Program- 2 Bedrooms	$ 175,000	$ 230	$ 1,050,000
NRTC Funds	$ 57,273	$ 75	$ 343,636
Jersey City HOME/AHTF	$ 28,624	$ 38	$ 171,744
Mortgage	$ 10,000	$ 13	$ 60,000
Total Permanent Sources	$ 270,897	$ 357	$ 1,625,380

474/80 Ocean Avenue
Rent Roll
LOW	MODERATE
Type	Family	Family
Number of Units	2	2
Unit Type	3BR	3BR
Unit Size	1100	1100
Household Size	4	4
Area Median Income	$ 77,100.00	$ 77,100.00
Range of Affordability	52%	66%
Target Income Maximum	80%	$ 61,680.00	$ 61,680.00
Target Income Minimum	$ 40,080.00	$ 50,760.00
Housing Ratio	30%	30%
Gross Annual Rent	$ 12,024.00	$ 15,228.00
HOME REN	$ 1,002.00	$ 1,269.00
Utility Allowance	$ 204.00	$ 204.00
Net Montly Rent	$ 798.00	$ 1,065.00
Monthly Rent Per Type	$ 9,576.00	$ 12,780.00
Total Annual Gross Potential	$ 19,152.00	$ 25,560.00
Gross Potential Income	$ 44,712.00
UTILITY ALLOWANCES	3 BR
Heating- Natural Gas	82
Cooking- Natural Gas	$ 15.00
Other Electricity	$ 60.00
Air Conditioning	$ 19.00
Water Heating- Natural Gas	$ 18.00
Range/Microwave	$ 5.00
Refrigerator	$ 5.00
Total	$ 204.00

77 Bostwick Avenue
Rent Roll
2 BR LOW
Type	Family
Number of Units	6
Unit Type	2BR
Unit Size	690
Household Size	3
Area Median Income	$ 69,400.00
Range of Affordability	50%
Target Income Maximum	80%	$ 55,520.00
Target Income Minimum	$ 34,680.00
Housing Ratio	30%
Gross Annual Rent	$ 10,404.00
HOME REN	$ 867.00
Utility Allowance	$ 167.00
Net Montly Rent	$ 700.00
Monthly Rent Per Type	$ 8,400.00
Total Annual Gross Potential	$ 50,400.00
Gross Potential Income	$ 50,400.00
UTILITY ALLOWANCES	2BR
Heating- Natural Gas	$ 67.00
Cooking- Natural Gas	$ 12.00
Other Electricity	$ 49.00
Air Conditioning	$ 16.00
Water Heating- Natural Gas	$ 15.00
Range/Microwave	$ 5.00
Refrigerator	$ 3.00
Total	$ 167.00

Sample Operating Budget. Project out 10 years- SEE ATTACHED.

Operating Budget-
Number of Units
Income
Expenses
Income	Year 1	Year 2
Apartment Rents	$	$
Vacancy	$	$
Gross Effective Income	$	$
Expenses
Utilities (Common Area Gas, Electric Water and Sewer)	$	$
Insurance	$	$
Maintenance and Repairs-	$	$
Admin Expense	$	$
Taxes-PILOT	$	$
Salaries and Related	$	$
Maintenance Contracts	$	$
Management Fee	$	$
Replacement Reserve	$	$
Total Expenses	$	$
NOI	$	$
Debt Service (Principal and Interest)
Debt Coverage Ratio
Cashflow
MORTGAGE CALCULATION
Annual	Monthly
Rate
Term
Debt Service
Debt Project Can Support	$

Sample Affordability Analysis- NOT APPLICABLE
Jersey City Median 4 people ( 3 bedrooms)
% Area Median Income of Target Buyers:
MINIMUM INCOME TO QUALIFY- TO SUSTAIN MORTGAGE	$
MAXIMUM INCOME TO QUALIFY-80%of AMI	80%	$
Minimum Monthly Income of Target Buyers	$
MAXIMUM Housing/Income Ratio
Target Buyers' Maximum Monthly Mrtg Pmt (PITI)	$
HOME Max Rent- High HOME Rent (2 Bedroom)
Percentage of Rental Income towards calculation	75%	$
Total Income	$
Taxes	$
Homeowners Insurance	$
PMI Payments	$
Mortgage Principal and Interest	$
Mortgage Interest Rate:	$
Mortgage Term:	$
Sales Price	$
Down Payment	$
Mortgage Amount	$

If a home ownership project, describe the likeliness to sell, attach market study if available:

Not applicable

If a rental project, describe market demand for target rents, attach market study if available:

GSECDC plans to develop 2 new three bedroom rentals at 474 Ocean Avenue which will rent for $798 per month (after utility allowance), and 2 new three bedroom rentals at 480 Ocean Avenue which will rent for $1065 per month (after utility allowance). GSECDC will also create 6 units at 77 Bostwick Avenue with two bedroom units renting at $700. Comparatively, the fair market rent in Jersey City for a 2 bedroom apartment is $1,322 (not including utilities) and $1682 (without utilities) for 3 bedroom apartments. This means that there will be a high demand for these units due to quality and pricing. Twelve two bedroom units at the recently completed 242 Bergen Avenue were leased in less than 2 months and were priced at $750 per month after utility allowances. Attached is an appraisal for 242 Bergen Avenue which confirms our market assumptions.

The area median income in Greenville of $33,000 is low when compared to $54,280 for Jersey City and $69,811 for the State (2005-2009 & 2006-2010 ACS). According to the 2012 HUD Low- and Moderate-Income Summary Data (LMISD), approximately 5,143 households, or 83.8% of the total households, within Greenville have an income less than 80% of the Area’s Median Income (AMI). As such, these households are considered Low- and Moderate-Income households and qualify for this housing. There is a need for affordable rental opportunities in Greenville. An estimated 55% of renters pay more than 30% of their income toward rental housing. More alarming, 1,455 households are severely cost burdened spending more than 50% of their income on rent. This indicates that a majority of the residents in Greenville do not have disposable income to spend on luxuries like new clothes, eating out, or going to a movie. Based on the median income of roughly $33,000, the average household cannot afford housing costs above $847 per month for rentals. Over 40% of the population has an annual income of $25,000 and cannot afford housing costs over $500 a month. GSECDC is developing rental opportunities that address these dynamics and provide housing options to mixed income populations including existing residents and people interested in moving into the neighborhood. Most households in Jersey City will benefit from the creation of more affordable housing. According to the US Census, the median income citywide is $51,826. Over 45% of the City’s population earns less than $50,000 a year. When paying 30% of income for housing costs (rental or for sale), the bulk of the population should not pay more than $1,295 towards housing costs, $387 less than the fair market rate. The NLIHC estimates that households must earn a wage of at least $26.78 per hour to afford these housing costs. Comparatively the State’s minimum wage is only $7.25. In order to afford the average housing costs, a household earning minimum wage must work 137 hours per week. Statistics show that over half of Jersey City renters pay more than they can afford for housing.

Describe the marketing plan for the project:

GSECDC will market to members of the community through partners of the Greenville Community Plan. We will also market in the local newspapers and per requirement of funders we will issue a public notice. These units will lease expeditiously because of quality, pricing and local demand from the immediate population.

If a rental project, describe the sustainability of the project over the first 10 years of operation and who will perform property management. Attach background information on property manager.

As you can see from the operating budget, the projected revenues are based on maximum rents and after utility allowances. We also factor a 5-7.5% vacancy rate and budget expenses at the industry average of $6,500-$7,000 per unit annually. After Net Operating Income, with a 1.2-1.25 debt coverage ratio, we figure out debt service for a loan at pre-negotiated terms with our permanent lender NJ Community Capital of 7.25% over a 20 year amortization schedule. As you can see the properties operate well maintaining a debt coverage ratio above 1.20+ throughout this 10 year period.

Part of the budget includes reserves, a management fee, administrative expenses, maintenance and repairs, and maintenance contracts which are managed by Landex Corporation. Landex is a proven property manager in the region for affordable housing that currently manages 116 tax credit units for GSECDC. These units operate at over 95% occupancy and are in great physical shape.

HOUSING AND/OR ECONOMIC DEVELOPMENT: Other sources of funds

Other Sources of Funding – Indicate all sources and amounts of funding committed to, or anticipated for, this project. Do not include Neighborhood Revitalization Tax Credits – Project funds. Provide the terms and conditions, if any (Attach funding commitment letter for each funder.)

Source	Amount	Type	Terms & Conditions of funding Source
Neighborhood Enhancement Program	$ 1,950,000	State Subsidy Program	Deed restricted for 30 years per NJDCA requirements. Must meet occupancy standards.
Jersey City HOME/Affordable Housing Trust Funds	$ 171,744	Local Subsidy Program	Deed restricted for 30 years per HOME requirements. Must meet occupancy standards.
Permanent Mortgage NJCC	$ 155,000	Permanent Financing	25 year amortization schedule, 6.25% percent, 1.25 DCR
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Total:	$ 2,276,744

If commitments are not secured, describe availability of funds and timing

We have term sheets for the construction financing. See attached. The Neighborhood Enhancement Program Applications are due October 1st. There is a 45 day turn around for decisions. The applications for the Jersey City HOME/Affordable Housing Trust Fund Programs are due October 18. There is a 2 month period for decisions.

Does the applicant have support of an NRTC investor for this project?

Yes, we have an indication of intent to fund per Paige Carlson Heim, Community Development Director for TD Bank.

HOUSING AND/OR ECONOMIC DEVELOPMENT: TIME LINE

What is the prospective schedule, from starting date to completion? Specify starting and major milestones. Also include a draw schedule and be specific about month and year for 50% completion, 75% completion and 100% completion. Please note that DCA disburses up to 20% of NRTC funds as an advance after the grant agreement. The remaining 80% of award funds will only be drawable on a reimbursement basis. NEP Application to NJDCA October 1, 2013 NRTC Application to NJDCA October 15, 2013 (estimate) HOME/AHTF Application to City October 18, 2013 NEP Decisions November 15, 2013 Schematic Design November 15, 2013 Acquisition of 77 Bostwick Ave. December 15, 2013 Formal designation by JCRA for Ocean Ave December 1, 2013 NRTC Decision December 15, 2013 HOME/AHTF Decisions December 15, 2013 Planning Board Approvals January 15, 2014 Complete Predevelopment Work February 1, 2014 Construction Drawings Complete February 15, 2014 Bid/GC Award March 15, 2014 Acquire Ocean Avenue Site April 1, 2014 Close on all financing April 15, 2014 Secure Permits April 15, 2014 Start Construction May 1, 2014 Complete Construction June 1, 2015 Lease up 100% August 1, 2015 NJDCA Does not require a 50% completion on the initial project before allowing GCP to apply for a second project under the second round expected in the fall 2014. Acquisition, soft costs and financing make up roughly 20% of total costs which will be completed by February 2014. We are projecting an 11 month construction period and expect to reach the 50% of total development costs ($1,408,000) in the 5th month of construction or September 2014.

Describe Minority Business Enterprise (MBE), Women Business Enterprise, and local hiring strategy:

Garden State Episcopal Community Development Corporation (GSECDC) is committed to providing maximum opportunity to participate in the execution of contracts financed in whole or in part with federal funds in our efforts to development affordable housing and to revitalize communities. With each project, the GSECDC team is dedicated to the affirmative outreach and utilization of minority and female workers and of minority and women-owned businesses.

The Director of the Division of Housing and Community Development and the lead Project Managers act as the officers responsible for emphasizing, documenting and implementing this policy during the development process. The following is incorporated in our bidding and contracting documents for general contractors in their hiring of laborers, tradesmen, and Minority and Women Business Enterprises.

Compliance with Section 3 of HUD Regarding Economic Opportunities for local residents:

The work to be performed under this contract is on a projected assisted under a program providing direct Federal assistance from the US Department of Housing and Urban Development, and is subject to requirements of Section 3 of the Housing and Urban Development Act of 1968, as amended (12 USCA 1701 U). Section 3 requests that to the greatest extent feasible, opportunities for training and employment be given to lower income residents of the project area and contracts for work in connection with the project be awarded to businesses located in, or owned in substantial part by persons residing in the project area. The contractor agrees to make a good faith effort to fulfill these requirements, to document this effort, and to provide copies of such documentation.

GSECDC HAS worked to comply with the policies of the Jersey City First Source Program and the Jersey City Affirmative Action Ordinance when our projects receive tax abatements.

Definitions:

Minority and Women Business Enterprises- Means a business that at is at least 51% owned and controlled by minority group members or women.

Minority Group Members- Means African Americans, Spanish Speaking, Spanish surnamed or Spanish heritage Americans, Asian Americans, and American Indians.

Practices/Experience:

GSECDC has an excellent track record of encouraging and including minority and local participation in Jersey City. GSECDC WILL IDENTIFY AND TO THE BEST OF OUR ABILITY, HIRE LOCAL CONTRACTORS/MINORITY BASED IN THE CITY OF JERSEY CITY. In all our affordable housing projects, we secure at least 3 bids from our contractor base, which is well represented by MBE and WBE’s and local contractors including:

Royal Court Contracting-Local minority contractor

422 Bergen Avenue

Jersey City, NJ 07305

All Day Service-Local minority contractor

101 Bayview Avenue

Jersey City, NJ 07306

Callico Construction- Local contractor

15 Wright Avenue

Jersey City, NJ 07306

LC Home Builder- Certified MBE

305 Third Avenue West

Newark, NJ 07107

DAR Construction- Certified MBE

35-37 Halleck Street

Newark, NJ 07104

Salazar and Associates Inc. - Certified MBE

625 Rahway Ave, Suite 1A

Union NJ 07083

HOUSING AND/OR ECONOMIC DEVELOPMENT: PERSONNEL STAFFING CHART

Complete this form for each project activity.

The purpose of the Staffing Chart is to identify the staff members responsible for each task listed. The Staffing Chart must be accompanied by resumes of program staff with their job descriptions. Make sure to include in-kind staff to the chart. (if position is vacant, then TBD for staff person but include the job description.)

Employee Name	Grantee Position #/ Title	% of Time Assigned to NRTC	# Years Experience: Housing Rehab	# Years Experience: Economic Devel
1.	John Restrepo	Director of Housing and Community Development	10%	10+
2.	Shantel Asante Kissi	Senior Project Manager	80%	10+
3.	Matt Ward	Assistant Project manager	10%	2+
4.
5.
6.
7.
8.
9.
10.

For each task below, enter the position number of the person(s) who will perform that task from above:

Program Coordinator	Program Marketing	Partner Program Activities	Records Retention	SAGE Reporting	SAGE Fiscal Reporting
2	3	1	2	1	1

ADMINISTRATIVE QUESTIONNAIRE

This information is necessary to process a request for financial assistance, and it will be expressly relied upon. Fill in all blanks, using “NONE” or “NOT APPLICABLE” where necessary. If more space is needed to answer any specific question, use a separate sheet.

Applicant:	Proposed owner, owner, developer, manager general contractor, subcontractor, supplier, service organization or consultant.

1.	Applicant (show official name without abbreviations).

Name Garden State Episcopal Community Development Corporation

Street 514 Newark Avenue

City Jersey City County Hudson State NJ Zip Code 07306

Telephone Number 201-209-9301 Employer’s I.D. No.

2.	Business Organization: Corporation Partnership

Sole Proprietorship Non-Profit Other

Is the proposed owner, owner, developer, manager general contractor, subcontractor, supplier, service organization or consultant, a subsidiary or direct or indirect affiliate of any other organization? If so, indicate name of related organization and relationship.

3.	Management: List all owners, officers, directors and partners of applicant. Also list stockholders having any interest in applicant (complete all columns for each person.) If the applicant is a publicly held corporation, please provide the latest proxy statement indicating stock ownership. (Please provide this information on Attachment A.)- Attached is a list of 2013 Board members.

4.	For all individuals named in Item 3, please list all other companies, partnerships, or associations in which such persons have more than 10% interest or in which such person is an officer, director, or partner. (Use a separate page(s) if needed.) Not applicable.

5.	Have any of the above parties, within the last five years, been a party defendant in litigation involving laws governing hours of labor, minimum wage standards, discrimination in wages, or child labor?

Yes No	If yes, furnish details in a separate attachment.

6.	Have any of the persons listed in Item 3 or 4 ever been charged with, or convicted of any criminal offenses other than a minor motor vehicle violation?

Yes No If yes, furnish details in a separate attachment.

7.	Is applicant or management of applicant or any of the persons listed in Item 3 or 4 now a plaintiff or defendant in any civil or criminal litigation?

Yes No If yes, furnish details in a separate attachment.

8.	Have any of the persons listed in Item 3 or 4 been subject to any disciplinary action, past or pending, by any administrative, governmental, or regulatory body?

Yes No If yes, furnish details in a separate attachment.

9.	Have any of the persons listed in Item 3 or 4 been or are they now subject to any order resulting from any criminal, civil or administrative proceedings brought against them by any administrative, governmental, or regulatory agency?

Yes No If yes, furnish details in a separate attachment.

10.	Have any of the persons listed in Item 3 or 4 been denied any license by any administrative, governmental or regulatory agency on the grounds of moral turpitude?

Yes No If yes, furnish details in a separate attachment.

11.	Has the applicant or management of applicant or any of the persons listed in Item 3 or 4 been informed of any current or ongoing investigation of the applicant or management of the applicant for possible violation of State or Federal laws, or has the applicant or management of the applicant been subpoenaed by any grand jury or investigative body?

Yes No If yes, furnish details in a separate attachment.

12.	Has the applicant or any of the persons listed in Item 3 or 4 above ever been in receivership or adjudicated a bankruptcy.

Yes No If yes, furnish details in a separate attachment.

13.	Has the applicant or person listed in Item 3 or 4 above been denied a business-related license or had it suspended or revoked by an administrative, governmental or regulatory agency?

Yes No If yes, furnish details in a separate attachment.

14.	Has the applicant or person listed in Item 3 or 4 above been debarred, suspended, or disqualified from contracting with any federal, state or municipal agency?

Yes No If yes, furnish details in a separate attachment.

Name and address and telephone number of counsel to Organization:

Eugene P. O'Connell

853 Summit Ave

Jersey City, NJ 07307

Office: 201-963-3668

b. Name and address of principal bank (s) of loan officer and telephone number:

Loretta Richardson

TD Bank

180 Raymond Blvd, Newark, NJ 07102

973-645-0387

c. Name and address of accountant to Company:

Magone & Company, P.C.
NJ CPAs & Business Consultants
30 Columbia Turnpike, Suite 101
Florham Park, NJ 07932
Ph: (973) 301-2300

Is the applicant a subsidiary of or affiliated with any other corporation or corporations or any other firm or firms?

Yes No

If yes, list each such corporation or firm by name and address. Specify relationship to the applicant and identify the officers and directors or trustees common to the applicant.

17.	a. The financial condition of the applicant as of 12/31/12 is as reflected in the attached financial statement. (NOTE: Attach to this statement a certified financial statement showing the assets and the liabilities, including contingent liabilities, fully itemized in accordance with accepted accounting standards and based on a proper audit. If the date of the certified financial statement precedes the date of this submission by more than six months, also attach an interim balance sheet not more than 60 days old.)

b. Name and address of auditor or public accountant who performed the audit on which said financial statement is based:

Magone & Company, P.C.
NJ CPAs & Business Consultants
30 Columbia Turnpike, Suite 101
Florham Park, NJ 07932
Ph: (973) 301-2300

18.	Names and addresses of bank references:

Loretta Richardson

TD Bank

180 Raymond Blvd, Newark, NJ 07102

973-645-0387

19 Identify other federal or state funded projects in which the applicant or any of the principals of the applicant is or has been a stockholder, officer, director or trustee, or partner of such an applicant: Not applicable

20.	Does any member of the governing body of the locality in which the Urban Renewal Area is situated or any other public official of the locality, who exercises any functions or responsibilities in the review or approval of the carrying out of the project under which the land covered by the applicant proposal is being made available, have any direct or indirect personal interest in the applicant or proposed development?

Yes No If yes, explain:

21.	Statements and other evidence of the applicant qualifications and financial responsibility (other than the financial statement referred to in Item 17a) are attached hereto and hereby made a part hereof as follows. See attachments on experience.