Z21-03 Application Package 2.1.2021
FINAL 2021 QUALIFIED ALLOCATION PLAN
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3. The Agency may make a forward commitment of the next year’s tax credits in an amount necessary
to fully fund project(s) with a partial award or to any project application that was submitted in a prior
year if such application meets all the minimum requirements of the Plan. In the event that credits are
returned or the state receives credits from the national pool, the Agency may elect to carry such
credits forward, make an award to any project application (subject only to the nonprofit set aside), or
a combination of both.
III. DEADLINES, APPLICATION AND FEES
A. APPLICATION AND AWARD SCHEDULE
The following schedule will apply to the 2021 application process for 9% Tax Credits and the first round
of tax-exempt bond volume and 4% Tax Credits.
January 22 Deadline for submission of preliminary applications (12:00 noon)
March 15 Market analysts will submit studies to the Agency and Applicants
March 26 Notification of final site scores
April 5 Deadline for market-related project revisions (5:00 p.m.)
April 12 Deadline for the Agency and Applicant to receive the revised market study, if
applicable
May 14 Deadline for full applications (12:00 noon)
August Notification of tax credit awards
The Agency will also accept tax-exempt bond volume and 4% Tax Credit applications any time between
May 1 and October 1 (5:00 p.m.). When a preliminary application has been submitted in this timeframe,
a schedule of milestones will be provided to the Applicant. The preliminary application submission date
will determine when those milestones occur which will follow a time frame similar to the 9% Tax Credit
round. The Agency will work with the Applicant to determine if the project will receive 2021 or 2022
volume cap. Full applications can be submitted no later than January 14, 2022.
The Agency reserves the right to change the schedule to accommodate unforeseen circumstances.
B. APPLICATION, ALLOCATION, MONITORING, AND PENALTY FEES
1. All Applicants are required to pay a nonrefundable fee of $5,800 at the submission of the preliminary
application. This fee covers the cost of the market study or physical needs assessment and a $1,400
preliminary application processing fee (which will be assessed for every electronic application
submitted). The Agency may charge additional fee(s) to cover the cost of direct contracting with
other providers (such as appraisers).
2. All Applicants are required to pay a nonrefundable processing fee of $1,400 upon submission of the
full application.
3. Entities receiving tax credit awards, including those involving tax-exempt bond volume, are required
to pay a nonrefundable allocation fee equal to 0.86% of the project’s total qualified basis.
4. The allocation fee will be due at the time of either the carryover allocation or bond volume award.
Failure to return the required documentation and fee by the date specified may result in cancellation
of the allocation. The Agency may assess other fees for additional monitoring responsibilities.
5. Owners must pay a monitoring fee of $1,220 per unit (includes all units, qualified, unrestricted, and
employee) prior to issuance of the project’s IRS Form 8609. Any project utilizing income averaging
or for which the Agency is the bond issuer must pay an additional monitoring fee of $300 per unit.
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Existing Vegetation Narrative
The existing vegetation on parcel R04300-001-007-000 can generally be
described as:
Along the southern property line is an existing row of Loblolly Pine trees varying
in DBH from 12”-24”.
Along the eastern property line is an approximately 40’ wide area of existing
trees, generally characterized as Loblolly Pines varying from 12”-24” DBH,
Maples from 8”-20” DBH, Southern Red Oaks from 8”-16” DHB. A similarly sized
and vegetated area also exists along the northern half of the western property
line.
Much of the rear 150’ of the property, including the northern property line
includes Loblolly Pines varying from 12”-24” DBH, Maples from 8”-20” DBH,
Southern Red Oaks from 8”-16” DHB, and wetland vegetation.
A detailed tree survey shall be performed as required during the site plan review
process.
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P H : ( 9 1 0 ) 7 9 1 - 6 7 0 7 F A X : ( 9 1 0 ) 791-6 7 6 0
Estrella Landing Legal Description
As offered in the Application Checklist, the site plan includes the map
book and page reference of the property requested for rezoning
Book 681 / Page 516
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Estrella Landing Conditional Zoning Application
Community Meeting
As stated in the application’s cover letter, the community meeting will
be held prior to the March 4th Planning Board Public Hearing