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TOTAL PROJECTED COSTS: $1,937,250.00 - page 14 / 15

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INDIANA HOUSING FINANCE AUTHORITY RENTAL HOUSING TAX CREDIT (RHTC) PROGRAM PROPOSED DEVELOPMENT SUMMARY

2003A-C Round

PROJECT NAME:

Deer Chase Apartments

SITE LOCATION:

Southeast Corner of SR 238 and Marilyn Noblesville, IN 46220 Hamilton COUNTY

PROJECT TYPE:

NC

APPLICANT/OWNER:

Olynger, Cardinal & Stone Development James M. Wilson 6251 N Winthrop Ave. Indianapolis, IN 46220 (317) 610-4105

PRINCIPALS:

OCS Deer Chase, LLC, Sun America

  • #

    OF UNITS AT EACH SET ASIDE:

60% of AMI:

7

50% of AMI:

74

40% of AMI:

31

30% of AMI:

16

Market Rate:

16

UNIT MIX

Efficiency:

0

One bedroom:

0

Two bedroom:

76

Three bedroom:

52

Four bedroom:

16

Total units:

144

TOTAL PROJECTED COSTS: $12,443,738.00

RHTCs REQUESTED:

$750,000.00

COST PER UNIT:

$79,470.00

RHTCs RECOMMENDED:

$750,000.00

HOME FUNDS REQUESTED: $0.00

HOME FUNDS RECOMMENDED:$0.00

TRUST FUNDS REQUESTED: $0.00

TRUST FUNDS RECOMMENDED:$0.00

APPLICANT NUMBER:

2003A-C-033

BIN:

IN-03-00600

HOME FUNDS AWARD #:

TRUST FUNDS AWARD#:

SET ASIDE:

General

COMMENTS: This development will feature a pool, playground, picnic area, sports court, exercise room, and a computer room/business center.

R=Rehabilitation A/R=Acquisition/Rehabilitation NC=New Construction

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