Texas Community Development Capital
NewMarketsTaxCreditFunding Application
Texas Community Development Capital(“Texas CDC”) will provide significant financial support to exceptional qualified applicants. This formwill be used to determine if an applicant:
Meets NMTC programrequirements
Meets the terms of Texas CDC’s Allocation Agreement
Needs advantageous NMTC financing to generate community impact
Would be unable to finance the proposedbusiness without thebenefit of a NMTC
allocation
Requires the benefit of a NMTC allocation within the range considered appropriatebyTexas CDC
Proposals which satisfy the basic criteriawill then be evaluated more thoroughly by Texas CDC staff. Additional due diligence information may be required to confirmassertions made in the proposal application. Additional information including, but not limited to, a developed budget and development teamresumes may be requested, as well as conversations with the sponsor and/or developer.
Submit a list and copies (when appropriate) ofsources utilized to complete this application with accurateand detailed information.
Please provide as muchinformation as possible. Greater detail will result in a better application. You may attach supplemental files; however, the inclusion of other documents should be in addition to completing the following form, rather than in the place of filling out all sections.If specific questions or sections in the application do not seemapplicable to your business or you would like clarification, please contact Suzanna Caballero at 512 433 1173 or
Completed forms should be sent to: Suzanna Caballero
Texas Community Development Capital
P.O. Box 6370for Courier Delivery: 1701 East 7th Street. Austin, TX 78762 Austin, TX 78702 (512) 477-5732
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I. Project Description
A. Project name:
B. Provide a narrative that describes the project in detail:
II. Project Location & CommunityProfile
A. StreetAddress:
B. City, State & Zip Code:
C. 11-digit Census Tract Code1: D. Community Type2
Major Urban Area (total urban/suburban population greater than 1 million) Minor Urban (total urban/suburban population less than 1 million)
Rural Area (non-metropolitan)
E. Population in Census Tract1(11digits):
F. Community Distress Criteria: (If you answer “yes” to the questions below, you must submit supporting documentation with your application.)
i.Percent living below povertylineinCensusTract1:
ii.2006 estimated Census Tract median family income1:
iii.Unemployment rate in Census Tract3:
iv.Is the project located in a FEMA-designated “major disaster declaration” since
7/15/05, AND is the county eligible for both individual and public assistance?4
v.Is your business located in a Federally-designated Empowerment Zone, Enterprise
Community, or Renewal Community?5
vi.Is your business located in a SBA-designated HUB Zone, and is it a HUB Zone certified business and will this investment support businessesthatobtainHUBZone certification fromSBA?6
1This information can befound at
2Informationcanbefound bytown orcity name under Table1aat Rural should beequivalent to Micropolitan.Urbanshouldbe equivalent toMetropolitan.
3This information can befound at
807959andbythenselecting“Census Tract” as theGeographicType. Complete the State, County, and CensusTract boxes, then “Add” this location toyour geographicselection,and continue tothe next window. “Add” table “DP-3 Profile of SelectedEconomicCharacteristics: 2000” toyourtable selection and continue tothe nextwindow. Select “Show Result.”
4This information can befound at by contactingyour
FEMA/EPR Regional Office.
5This information can befound at
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vii.Is your business located in a Federally-designated Brownfields Redevelopment Area
(as defined under 42 U.S.C. 9601(39))?7
viii.Is your business encompassed by a HOPE VI Redevelopment Plan?7
ix.Is your business located in a Federally-designated Native American
area, or redevelopment areas by the appropriate Tribal or other authority?8
x.Is your business located in a colonias area as designated by the US Department of
Housing and Urban Development?10
xi.Is your business located in a Federally-designated medically underserved area, and will this investment support health related services?11
xii.Is your business located in a High Migration Rural County (defined as any county which, during the 20 year period ending with the year in which the most recent census was conducted, has a net out-migration of inhabitants fromthe county of at least 10% of the population of the county at the beginning of such period)?12
xiii.Is your business located in a State or local Tax Increment Financing (TIF) district, Enterprise Zone, or any other State or local programfor particularly economically distressed areas?If yes, which?7
xiv.Is your business locatedin a non-Metropolitan county?13
6Informationon whether thecensustract is aHUBZonecan be foundat must confirm directly that they haveSBAcertification.
7This information can befound by contactingyourlocalOffice ofCommunity and Economic
Development (contact informationavailablethroughyour state,county,andcity government websites).
8This information can befound at by contacting yourlocalOffice ofCommunity andEconomic Development (contact informationavailable through your
state,county,and city government websites).
10Colonias counties are:ARIZONA:Cochise,Yuma;CALIFORNIA:Imperial;NEWMEXICO:Chaves,DonaAna,Eddy,
Luna;TEXAS:Bee,Brewster,Brooks,Cameron,Dimmit,Duval,Edwards,El Paso,Frio,Hidalgo,Hudspeth,JeffDavis,JimHogg, JimWells,Kinney,LaSalle,Maverick,Pecos,Presidio,Reeves,SanPatricio,Starr,Terrell,Uvalde,ValVerde,Webb,Willacy, Zapata,Zavala
11This information can befound at
12This information can befound at
13Informationcanbefound bytown orcity name under Table1aat Non-metroshould beequivalent to
Micropolitan.
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xvi.As permitted by IRS and related CDFI Fund guidance materials, projectsserving Targeted Populations to the extent that: (a) such projects are located in non- Metropolitan Areas; (b) such projects are at least 60% owned by members of eligible Targeted Populations; (c) at least 60% ofthe employees are members of eligible Targeted Populations; or (d) at least 60%of the customers are members of eligible Targeted Populations?14
III. QALICB Profile
A. Do you believe your proposed business/project is a Qualified Active Low-Income
Community Business (QALICB)? B. Owner/QALICB name:
C. What type of business is the QALICB?(examples: Special Purpose Entity, operating business, etc.)
D. What type of organization is the QALICB?(examples: corporation, LLC, partnership, etc.
E. Please describe the members of your development teamand their applicableexperience:
IV. QALICB Qualification
[Documentation to support the following answers must be submitted prior to commitment of allocation.]
A. Are any of the following businesses conducted by the QALICB or at the subject real estate: massage parlor; hot tub facility; suntan facility; country club; racetrack or other facility used for gambling; store whoseprincipal purpose is the sale of alcoholic beverages for consumption off premises; development or holding of intangibles for sale; private or commercial golf course?
B. Does income fromresidential rental real estate account for more than 80% of the
QALICB’s revenues?
C. Will at least 40% ofthe QALICB’s tangible property be within the low-income community?
D. Will at least 50% ofthe QALICB’s revenue be derived fromactivity performed at the subject location?
14Additional guidance on TargetedPopulations can befoundat
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V. Community Impact of your Project
A. Provide a narrative thatdescribes in detail the community impact that will result from this project; submit supporting documentation if applicable. Discuss impact in terms of all of the following:
i.Estimated temporary andpermanent job creation
ii.Expansion of goods and services available to the low-income community
iii.Expansion of educational and/or culturalamenities available to the low-income community.
B. Provide a narrative describing in detail other development activity in this community.
Address all the following:
i.Is this project one of the only new developments in the area?
ii.Is the project part of a larger,comprehensive revitalization plan?
iii.How will this project influence development in the area?
C. If your project has a residential housing component, will at least 20% of the housing units developed or rehabbed as a result of the NMTCinvestment be affordable to Low-Income Persons (80% AMI)?
D. If applicable, provide a narrative describing other types of communityimpact, including:
i.LEED certification, or other sustainable resource, “green” features ii.Impact on minority populations
iii.Impact on neighborhood stabilization
VI. Financial Profile
[**In addition to completing the following financial information, please include a pro forma development budget (sources and uses)and operating budget of the project.]
A. Total project cost:
B. RequestedNMTCfinancing:
C. Why does this project need NMTCs? (examples: budget gap, inadequate state/local government support, land constraints,highrentalrates,etc.)
D. Have other sources of NMTC allocation beensought?If so, whycouldn’t other CDEs fund the project?
E. Would this project be feasible without Texas CDC allocation? If no, please explain.
F. Describe all other sources of financing and the status of each transaction. Provide a narrative for any relevant timing orconditionsrelatedtoeachsource:
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In the following table list all other sources of financing as described in the above narrative:
Type* / Amount / Source / Status***Examples: debt,grant,equity,othertaxcredits,etc.
**To establishthe how soon theproject canbegin,pleaseuse thefollowing statuscategories:
Dispersed:Funds have been giventotheborrowerand distributed for use.
Committed: The borrower hasreceived alegally binding commitment fromthe lender.
TermSheet: Financing is contingent onapproval and verification of assumptions. Thelenderis not yet legally bound.
Application Pending: Borrowerhas submitted arequestforfinancingbutnot yet receiveda decision.
Estimate: An informal, preliminary estimate of available funds.
Other:Please explain
G. What is the earliest date by which this transaction could likely close? H. What is the latest date bywhichthistransactionmustclose?
I.Describe any other factors that might affect the timing of the closing:
VI. Contact Information
A. Date submitted:
B. Application completed by: C. Relationtoproject:
D. Contact person for follow-up: E. Relationtoproject:
F. Telephone number: G. Fax number:
H. E-mail address:
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