HomeMy Public PortalAboutBrewster Woods Application HousingAss
istance
PRESERVAMN
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OF AFFORDABLE Corporation r
HOUSING Cape Cod
December 28, 2016
Mr. Paul Ruchinskas
Chairman—Community Preservation Committee
Town of Brewster Town Hall
2198 Main Street
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Brewster, MA 02631
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Re: Community Preservation Act Funding Application for Brouster Woods
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Dear Mt. Ruchinskas:
We are pleased to submit an application to the Town of Brewster's Community Preservation
Committee for funds to develop a 5.8 acre vacant parcel located on Brewster Road to be known as
Brewster Woods. Preservation of Affordable Housing (POAH) and Housing Assistance
Corporation (HAC) have been selected by the Brewster Housing Authority (BHA) to develop the
land into 30 units of affordable housing for family and elderly residents,
As you and members of the Community Preservation Committee (CPC) know, the BHA was
previously awarded$600,000 in Community Preservation Act (CPA) funding to develop the j
Brewster Woods site. It is our hope that those funds will continue to be available as a funding s
source for the development. Selected by the BHA board as the development's sponsor, POAH and
HAC will begin the comprehensive permit process in partnership with the BHA and the town's
planning and zoning departments. We believe having the support of the CPC will be an important
component of our zoning application. Additionally, the project's ability to secure state and federal
funding, including an allocation of low-income housing tax credit and other subordinate financing
(i.e. HOME,AHTF, etc.) will benefit from the local support of the CPC, We welcome the
opportunity to meet with the CPC members and discuss our vision for the project in greater detail.
We are hopeful the Community Preservation Committee will consider our request to transfer the
$600,000 award to POAH and HAC to ensure the successful plan for the property and its future
residents.
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Please find enclosed our application for Community Housing funding as detailed in the Community �
Preservation Act Funding Application, Please contact me or my colleague, Noelle Humphries,with
any questions. We can be reached at icreamer a,poah.orL,/ 617-449-0869 or nhum hriesn,;Poah,ora
/ 617-449-0872, Thank you for your consideration.
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Bests gards,
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Juli Creamer
i Preservation of Affordable Housing, Inc.
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40 Court Street, Suite 700, Boston, MA 02108, 617 261 9898, Fax 617 261 6661,Www.poah,or4 �
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APPLICATION FOR COMMUNITY PRESERVATION ACT FUNDING
Date Application Submitted: December 2016
Name of Project Applicant: Preservation of Affordable Housing&Housing Assistance Corp. E
Name of Co-Applicant(s),if applicable: n/a
Name of Contact Person: Julie Creamer 1 Noelle Humphries (POAH)
Contact Person's Mailing Address: 40 Court Street,Suite 700,Boston,MA 02108
Contact Person's Daytime Phone Number: 617-449-08691617-449-0872
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Contact Person's entail Address: jcreamer@poah.org/nhumphries@poah.org
Proposed Project Name: Brewster Woods
Project Address (or assessor's parcel ID): Brewster Road and Alden Drive
Project Synopsis:
Preservation of Affordable Housing,Inc. (POAH) and Housing Assistance Corporation (HAC), non-profit
organizations,were selected by the Brewster Housing Authority(BHA)to develop a vacant parcel of land !
in Brewster into affordable housing. The property will consist of 30 housing units that will be well
integrated into the fabric of the existing neighborhood.The target population will be family,elderly and
disabled people.
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POAH and HAC are requesting to use the award of$600,000 in Community Preservation Act funding that
was previously awarded to the BHA to support this creation of Community Housing in the Brewster.The
total estimated project budget is over$10 million.
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Category: ❑ Open Space aeHistoric Preservation aRecreation aComm.unity Housing X {
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CPA funding requested $ $600,000 Total Cost of Proposed Project$ $10.5 million
PROJECT DESCRIPTION
Forin 1111012015 Community Preservation Committee Application 3 3
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Brewster Woods December 2016
Brewster,MA
CPA Funding Proposal-Housing
1. Project Description
Preservation of Affordable Housing,Inc. (POAH) and Housing Assistance Corporation(HAC) are
pleased to submit this application to the Brewster Community Preservation Committee. for$600,000
in Community Preservation Act(CPA) funding to create 30 units of housing. The co-developers,
POAH and HAC,were selected by the Brewster Housing Authority(BHA)in 2016 to develop a 5.8
acre parcel of vacant land on Brewster Road into much-needed affordable housing.As you know,
the BHA was originally planning to develop the land and was awarded$600,000 in CPA funds in
November 2013. POAH and HAC would life to utilize those funds to support the acquisition of the
land and development of the apartment homes for low-and moderate-income residents of Brewster.
POAH and IIAC will form a Master Developer entity with the purpose of developing the site to be
known as Brewster Woods. Decision-making authority within the Master Developer entity will be
75%POAH and 25%HAC.That entity will enter into a development agreement and sign a Ground I
Lease with the BHA.Those agreements are in the process of being finalized.
The development team is planning a site design that responds to the hilly,wooded nature of the site
and minimises disturbance to the site. The proposed design clusters development toward the central
and flattest portion of the site.There will be four interconnected 2-story buildings,which will
include a 6,700 square foot common building and parking will be located adjacent to the buildings.
Outdoor community spaces will include a community garden,playground area, fitness trail,and
patio spaces at the common building. The project's 30 units will contain 8 one-bedroom,20 two-
bedroom and 2 three-bedroom apartment homes at square footages of 611, 847,and 1165,
respectively.The target market will be elderly, family,and disabled residents.
The units as designed have an efficient and straightforward design.All units are single-level flats
with an egress provided via a common stairway and an elevator in the common building.Three units
(one of each bedroom type) are designed to be fully handicapped-accessible and ADA compliant.
Other units are designed to meet the needs of families with children or residents aging in place with
single level living and generous clearances for mobility.The design also ensures acoustic privacy,
efficient circulation,adequate internal storage,generous lighting,natural ventilation,and site lines
that aim to maximize the beautiful views of the site.
As part of the development process,the team will bring the project through the 40B process in
order to obtain a Comprehensive Permit.POAH and HAC will work with DHCD to obtain the site
eligibility letter necessary to move forward with the zoning board. The Town of Brewster is below
the affordable housing production goals of 10%and therefore this important project would boost its
percentage of low-and moderate-income housing.
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Brewster Woods December 2016
Brewster,MA
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CPA Funding Proposal-Housing
2. Historic Preservation Projects
Not Applicable
3. Community Preservation Act Goals/Criteria
The Brewster Woods development will serve a currently under-served town population by providing
much needed long-term affordable housing.As previously noted,the town does not currently meet
its affordable housing goal of achieving a 10% affordable housing stock. These 30 units will make a
contribution to the town's socioeconomic diversity that is so greatly needed. Brewster has a very
significant summer population,but it must ensure that the housing needs of its permanent residents
are addressed and this project will assist with that since there are a substantial number of town
residents that are within the low-and moderate-income range.An award and support for this project
will also demonstrate to the state that Brewster is committed to meeting the needs of its population.
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The proposed project will seek to contribute to Brewster's unique character.The conceptual design
provided by the architect,BLF&R,seeks to achieve several goals: 1) consistency with local and
regionally-established architectural patterns,scale,materials,details,and colors;2) utilization of
simple, traditional building forms and massing resulting in construction efficiencies to Delp control
costs;and 3) responsiveness to the features and natural contours of the site. The project will
enhance and better utilize the vacant land currently owned by the housing authority.
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In addition to the CPA funding,the development team is seeking additional sources of local and
state funding, as well as permanent financing and equity investment from private sources.Therefore,
additional public and private funds are being leveraged as part of this project to the tune of$9.9
million.That amount of investment represents a ratio of over$16 of funds for every$1 of CPA
funds invested.The estimated budget for the project and the identified sources will ensure the !
feasibility of the development.POAH and HAC have a wealth of experience in the development of
affordable housing and are confident that the project will be successfully implemented given the
budgeted sources and uses.
4. Communitv Benefits
Brewster Woods would serve a very critical housing need in the Brewster community. We believe
that the broader Cape Cod community will benefit from having two responsible developers on
board to create this much-needed housing and bring funding opportunities targeted for working 1
families and long-term affordability.As noted below,POAH and HAC have extensive experience in
housing development,and a strong commitment to the populations and communities served.
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Brewster Woods December 2016
Brewster,MA
CPA Funding Proposal-Housing
Additionally,as noted above, the development of vacant land into a higher and better use will only
serve to benefit the community as a whole.
5. Community Support
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As evidenced by the BHA's selection of POAH and HAC as co-developers of Brewster Woods, the
BHA strongly supports this project.Additionally,the Barnstable County HOME Consortium
(BCHC) has expressed its support of the development and a strong interest in providing funding to
the project. It has previously funded POAH/HAC projects in other Cape Cod communities,
including Bourne,Dennis,and Barnstable.
6.Timeline
POAH and HAC propose the following projected development milestones:
Submission of Site Eligibility (40B) March 2017
First ZBA Hearing May 2017
Comprehensive Permit Issued August 2017
Submit Application to BCHC for Funding September 2017
Submit Application to DHCD for Funding November 2017
Receive Funding Award Spring 2018
Construction Loan Closing Summer 2018
Construction Completion/Certificate of Occupancy Fall 2019
Perinanent Loan Closing January 2020
7. Credentials
POAH
POAH is a nationally active non-profit organization specializing in the acquisition,rehabilitation and E
long-term preservation of affordable housing.POAH currently owns and operates nearly 9,000
affordable homes in more than 80 properties in 9 states and the District of Columbia. Housing is
provided to families,veterans,persons with disabilities,and seniors. The organization has a staff of I
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over 45 full-time employees led by a seasoned leadership team,as well as an affiliated management
company,POAH Communities,that employs approximately 360 people. I
POAH takes its role as a long-term steward of its communities very seriously and was built on the
principle that its portfolio must be sustainable in the long term. This has resulted in robust corporate
capitalization with parent company net assets of over$40 million. It has access to significant pre- j
development and bridge acquisition credit lines available through the organizations such as the Local
Initiatives Support Corporation,Low Income Investment Fund,Calvert Foundation,and the
Massachusetts Life Initiative,among others.Additionally,POAH has broad experience securing
funds from a range of multi-family financing programs at the federal, state,and local levels,
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Brewster Woods December 2016
Brewster,MA
CPA Funding Proposal-Housing
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including housing tax credits,renewable energy financing,HOME,HUD operating subsidy and debt
funding,and many others. It has also been very successful at securing competitive resources like 9%
LIHTC awards.Within the last 10 years in Massachusetts alone,POAH has raised over$225 million
in federal tax credit equity and$20 million in state tax credit equity.
POAH has developed over 700 units of affordable housing in the south coast and Cape Cod,
working closely with MassHousing,MHP,DHCD,and BCHC. Included in this count is 140 units of
new construction developed with HAC in five separate projects that each utilized 9%tax credits and
share other characteristics with Brewster Woods.
HAC
The non-profit Housing Assistance Corporation has been providing a frill spectrum of housing and
community development solutions to residents on the Cape and islands for over 40 years. Founded
in 1974,I-IAC's mission is to build strong,healthy and diverse communities where people have
access to safe, sanitary and decent housing.To that end,HAC has developed a continuum of
programs that range from the provision of temporary shelter to permanent housing development,
with pathways for clients/residents to develop personal and economic self-sufficiency.The
organization has assisted over 100,000 residents and has developed or co-developed over 450 units
of housing. Its operating budget currently stands at+$20 million per year and it employs a staff of
approximately 80 F/T and 40 P/T people. Its primary program areas focus on the operation of
temporary housing and homelessness prevention for individuals and families,permanent housing
development,property management and housing subsidy oversight,and other housing programs.
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In addition to its work providing needed services to the Cape's most vulnerable residents,HAC has
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played a key role in funding other housing and human services organizations such as the
Massachusetts Non-Profit Housing Association,HOME Consortium,Affordable Housing Loan
Consortium,Lower Cape Cod Development Corporation,and the Housing Land Trust for Cape
Cod. HAC attracts considerable support from the community in many forms,including funding,in-
kind donations,volunteers,workshop instructors,and development collaboration. Its clients have a
high success rate in achieving self-sufficiency,and many have gone on to become HAC employees
or board members.
Both POAH and HAC's board members are broadly representative of key organizations in the
community and affordable housing,with members who bring a broad range of skills to each
organizations
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8. Bud ipx/Need for Public Funds
The sources and uses included in this application reflect a transaction funded with available sources
that are still in the application stages.We are hopeful to have all financing commitments in place by
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Brewster Woods December 2016
Brewster,MA
CPA Funding Proposal-Housing
the spring of 2018.As evidenced by the letters of support included herein,the development has
received letters of interest in providing permanent financing,tax credit equity and soft funds from
MassHousing,MHP,MMIC,and BCHC.The development team will apply for 9%tax credits and
soft funds from DHCD in the fall 2017 funding round.Please note that audited financials are not
applicable since this is a new construction project.
9.Maintenance
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POAH's affiliate management company,POAH Communities,will be responsible for ongoing
property maintenance at Brewster Woods.POAH Communities currently manages seven properties
on the Cape with 464 apartment homes,including King's Landing in Brewster. The management of
Brewster Woods will provide the same high quality management that it provides at all of the
properties in its portfolio and that the Town of Brewster would expect. POAH's proposed operating
budget includes $230,000 (or$7,667 per unit) in annual operating expenses for normal property
maintenance and repairs,insurance and real estate taxes. POAH will be required by the first
mortgagor and investor set aside initial and ongoing operating and replacement reserves to ensure
the property's long-term financial strength.
10. Site Control
In 2016,POAH and RAC were selected by the BHA to develop Brewster Woods.The co
developers are entering into a Development Agreement and will sign a Ground Lease with the BHA.
Those agreements are under review and will be finalized in early 2017.
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Town of Brewster Communitv Preservation Committee
CATEGORY SPECIFIC CRITERIA
(Identify which of the following criteria apply to your project.)
Open Space Proposals
❑ Permanently protect important wildlife habitat, including areas of significance for biodiversity,
diversity of geological features and types of vegetation, contain a habitat type that is in danger of
vanishing from Brewster or preserve habitat for threatened or endangered species of plants or animals.
❑ Provide opportunities for passive recreation and environmental education.
❑ Enhance or protect wildlife corridors,promote connectivity of habitat and prevent fragmentation of
habitats.
❑ Provide connections with existing trails or potential trail linkages.
❑ Preserve scenic views or border a scenic road.
❑ Protect drinking water quantity and quality.
❑ Provide flood control/storage.
❑ Preserve important surface water bodies,including wetlands,vernal pools or riparian zones.
❑ Preserve priority parcels in the Town's Open Space Plan/maximize the amount of open land owned by
the Town of Brewster.
Historical Preservation Propos__ ats
® MANDATORY: Must be on the State Register of Historic Places or have a letter from the Brewster
Historic Commission indicating that the resource has been determined to be significant in the history,
archaeology, architecture,or culture of Brewster.
M MANDATORY: Project must meet Secretary of the Interior Standards for rehabilitation and/or
restoration of Historic Preservation Properties.
❑ Protect,preserve, enhance,restore and/or rehabilitate historic, cultural, architectural or archaeological
resources of significance, especially those that are threatened;
❑ Protect,preserve, enhance,restore and/or rehabilitate town-owned properties, features or resources of
historical significance;
❑ Protect,preserve, enhance,restore and/or rehabilitate the historical function of a property or site;
❑ Demonstrate a public benefit and/or public access, or
❑ Otherwise provide permanent protection for maintaining the historic resource.
❑ Project site should not be privately owned unless there is demonstrable public access and benefit.
Communitv Housine Proposals
® Contribute to the goal of achieving 10 percent affordable housing;
IN Promote a socioeconomic environment that encourages diversity;
® Provide housing that is harmonious in design and scale with the surrounding neighborhood;
® Ensure long-term affordability; j
El Promote use of existing buildings or construction on previously-developed or Town-owned sites; j
❑ Convert market rate to public subsidized units;
❑ Provide an appropriate mix of rental and ownership housing;
® Give priority to local residents,town employees, employees of local businesses as allowed by law.
Recreation Proposals ¢
❑ Support multiple active and passive recreation uses;
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❑ Serve a significant number of residents and visitors;
❑ Expand the range of recreational opportunities available to all ages of Brewster residents and visitors;
❑ Benefit other Brewster committees providing recreational resources to residents;
❑ Promote the use of alternative corridors that provide safe and healthy non-motorized transportation
Forn:-7111012015 Community Preservation Committee Application S
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7P FA0zkbYHMNiK December 23,2015 PLYMOUTH,MA 02360
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BARNSTABLE COUNTY ROME CONSORTIUM
0 PQ Box 427,3195 MAIN STREET
BARNSTABLE, MASSACHUSETTS
02630
7,
(508)362-6628 -.VAX(508)362-0290
E-mail: inspringer@ barnstablecoutity.ft
December 8,2015
Ms.Julie creamer
Preservation:of Affordable Housing, Inc.
40 Court Street
Suite 700
Boston,Mkoiio8
Re:Brewster Woods-Brewster
Dear Ms. Creamer:
On behalf of the Barnstable County HQME Consortium,I am writing to express support for the Preservation of
Affordable Housing,Inc. (POAH)proposal to create thirty(3o) affordable rental units.Affordable family rental
housing for low income households is desperately needed M' Brewster as well as in the rest of the County, and
the provision of these affordable units will help address the one of the top priority housing needs on Cape Cod.
The Consortium has funded prior POAH projects in Barnstable,Bourne,Dennis,and Orleans,And should the POAH apply for
HOME Consortium funding for this project,based upon the information supplied to date,T believe that there would be A very
strong interest onflic part of the Consortium to provide a funding award for this project,The Consortium's current funding
limits,depending-upon project scoring,are$40,000-$5o,000 per unit up to project maximum Of$200,000-$250,000.
Please be advised that this is not aconditional commitment of funds as such a commitment could only occur
after the submission and full review of a complete funding application and then an affirmative vote by the
HOME Consortium's Advisory Council.We applaud the POAH's initiative in pursuing this opportunity, and if I
can be of any further assistance,please do not hesitate to contact my office.
Sincerely,
Michelle Springer
HOME Program Specialist
Svp
porting affordable housing in theflfteen communities of Cape Cod
Massachusetts
Housing
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December 18, 2015
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Julie Creamer, Vice President
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Preservation of Affordable Housing, Inc.
40 Court Street, Suite 700
Boston, MA 02108 160 Federal Street
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Boston,Massachusetts 02110
RE: Brewster Woods, Brewster (the "Project")
Tel:617-330-9955
Dear Ms. Creamer: Fax:617-330-1919
This letter is to indicate the strong interest and support of Massachusetts Housing --
Partnership Fund to provide permanent financing for Brewster Woods in Brewster. I 452 Main Street
understand the project is to be developed jointly by Preservation of Affordable Housing, Amherst,Massachusetts 01002
Inc. and Housing Assistance Corporation and will consist of the new construction of Te 1:413.253-7379
thirty (30) units consisting of eight (8) one-bedrooms units, twenty (20) two-bedrooms Fax:413.253.3002
units and two (2)three-bedroom units, 100% affordable to households at or below 80%
of the area median income ("AMI"). Also, of the thirty (30) units, six (6) units will be set-
aside for households at or below 30% of AMwww,mnp.net
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We have completed a preliminary review of the development and operating pro-forma
and determined that, based on today's interest rate, and your affordability approach,
total permanent financing of up to $1,482,000 would be feasible for this project as
detailed below:
Loan Amounts: First Mortgage Loan: $1,482,000, subject to an appraisal that
indicates the value of the Property provides a loan-to-value
ratio of not more than 85%. Borrower will be eligible for a
higher loan amount if, at the time of permanent loan closing,
it is demonstrated to MHP's satisfaction that the rents
achieved provide us with an equivalent-quality loan.
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Rate: First Mortgage Loan: If the loan closed today, the rate would I
be 5.0%. We have underwritten the project at 5.75%, which
includes 50 basis points for a 24 month rate lock and 25 basis
points above today's rates as a hedge against rate increases.
The rate is based on a 20 year term with 30 year amortization.
We will adjust the loan amount upward or downward at the
time of rate lock to reflect the actual locked-in rate. !
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Fee: 1% of the First Mortgage Loan. Of this amount, 0.5%will be
due at commitment and 0.5% will be due at the earlier of the
date the interest rate is locked or loan closing.
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Massachusetts
Housing
,. Partnership
a
Preservation of Affordable Housing
December 18,2015
Page Two
Operating Reserve
Requirements: An operating reserve must be capitalized at permanent loan
closing to provide minimum debt service coverage of 1.10x
throughout the life of the loan, Based on the rates used in
this underwriting, the amount of this reserve is approximately
$84,300,
Please understand that this outline of terms and partial conditions is not a commitment
to lend, either expressed or implied, and that the conditions set forth herein are a partial
list of the conditions that would be included in any MHP Fund commitment letter.
After discussing the project in detail, I'm encouraged and impressed with the
development plans for the site.
We look forward to learning more about this project and having an opportunity to work
together again.
Sincerely, F
Nanc M caffert
Y Y
Senior Relationship Manager
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cc: Jessica Dellert, !_ending Assistant
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Investment
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Fax: (617)850-1100
Corporation
Guilliaem Aertsen
Chairman
Joseph L. Flatley
President and CFO
December 15,2015
Mr.Aaron Gornstein
President &CEO
Preservation of Affordable Housing,Inc.
40 Court St., Suite 700
Boston,MA 02108
Re: Brewster Woods
Dear Aaron:
Itiswith pleasure that we provide you with this letter of interest to provide low income housing tax
credit (LIHTC)financing for the proposed Brewster Woods project.Massachusetts Housing Investment
Corporation (MHIC) appreciates the opportunity to work with Preservation of Affordable Housing
(POAH) and Housing Assistance Corporation (HAC)on another new rental community on Cape
Cod.
Based on the information provided by you,we understand the project includes 30 units of
affordable housing and anticipate that 29 units will be LIHTC units that will be leased to
households at or below 60% of AMI.
MHIC has had the opportunity to work with both POAH and HAC on many of their projects
including Kimber Woods, Lombard Farm and the Residences at Canal Bluffs. Similar to those
projects, anticipated financing for the Brewster Woods project includes Affordable Housing Trust
funds, local and state allocated HOME funds, Community Preservation Funds in addition to the tax
credit equity raised in connection with a 9% allocation. POAH and HAC have a great deal of
experience with these funding sources and respect the need to appropriately manage these scarce
state and local resources.
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Given the track record of POAH and HAC in bringing attractive and sustainable rental communities �
like this one, and the strong local commitment to the project,we expect that the project as described
would be well received in the equity market. We look forward to the opportunity to work again
with the POAH and HAC in the important effort to bring much needed affordablehousing to this E
part of the Cape.
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Jf Sin erely,
rA' E
llj 1 K. Chan
Director of Business Development
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AO MASs'HOUSING
Massachusetts Housing Finance Agency
one Beacon Street,Boston,MA 071013
Tw 617.064.1000 I FAX;617,854-1091
VP: 866.758.1435 WWWn1a5sho4S1n9-CQrn
December 9,2015
The Brewster Housing Authority
11 Frederick Court
Brewster,MA 02631
FX Brewster Woods—Brewster,MA
Letter of Interest
To Whom It May Concern:
MassHousing welcomes the opportunity to express our interest in providing permanent and construction
financing for the Brewster Woods project. It is our understanding that Preservation of Affordable
Housing (POAH) and Housing Assistance Corporation (HAC) have proposed a 30 unit family
development on the Brewster Housing own parcel. They intend to utilize a Comprehensive Permit and
the Low Income Housing Tax Credit program to bring much needed affordable housing to this well suited
location in'Browster.
We have worked with POAH and HAC on a number of affordable developments and find their expertise
and local insight to be well suited for the Brewster Woods development. Most recently,POAH and HAC
teamed up with MassHousing on a mixed income development in Bourne, Canal Bluffs, Canal Bluffs
was pertnitted under a Comprehensive Permit; MassHousing provided the, site eligibility letter and
permanent financing for the Phase I property,The Residences at Canal Bluffs.
MassHousing offers a number of loan programs and resources to support the development and
preservation of affordable housing, We are committed to supporting Cities and Towns throughout the
State in their efforts to implement housing initiatives in line with local needs. We have the credit smngth
and access to financial markets to obtain the best possible financing sources to support our development
partners financing needs.
We look forward to working on this project with Brewster Housing Authority,POAH.and HAC. Please
contact the should you have any questions,
Yoverytruly,
baniel staring
Relationship Manager
Charles 1].Baker,Oavrrnor Michael J,Dirrane,Chairman Thomas R.Gleason,OwtitiVe Director
Kam E.Polito,tt.Governor
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Chicago Properties POAH was able to devise a creative structure which met all of
47,7, Formerly the site of the Grove Parcthese needs.
Plaza Apartments,the property The rehabilitation of the property will include full window
on South Cottage Grove Avenue replacement,the modernization of the main building's long-
between 60th–63rd Street defunct elevator,corridor ventilation,replacement of all sub-
on Chicago's South Side was standard kitchens and baths,upgraded life safety systems,
threatened b mismana ement and and common-area im rovements.All renovations to the main
Y 9 P"' physical deterioration so extensive mill building will comply
it required demolition and construction of new housing. Even with historic preservation a focal landmark j
though it is located near the University of Chicago,the historic requirements for windows, Billings Forge was originally I
yet economically distressed Woodlawn neighborhood has masonry and other details. constructed in 1864 as a
suffered from gang violence,high unemployment rates,and manufacturing tool plant and
POAH also funded and converted to housing during
residential and commercial abandonment. I
implemented resident services the 1970s. Today,its apartments
In 2008, POAH stepped in at the invitation of residents programs that complement feature high ceilings and j
attractive exposed brick and
to prevent the loss of this scarce,federally-subsidized and leverage the activities beams.
affordable housing, replacing the 504-unit development already offered by Billings
with the new"Woodlawn Park,"a healthy mixed-use,mixed- Forge Community Works. Residents benefit from after-school
income community that combines residential,commercial, activities,a community garden,a popular farmers'market,and j
and recreational buildings. In 2011, POAH and the City of jab-training/employment opportunities at the Firefox Restaurant
Chicago received a HUD Choice Neighborhoods Initiative and Cafe.
implementation grant for$30.5 million that is supporting
housing construction and programs and services for residents, Trinity Towers
investments in community schools,public safety,job training, In 2013,POAH acquired Trinity Towers
infrastructure,and more. Apartments,three properties consisting
POAH also acquired or renovated 148 apartments in 13 of 510 units of senior affordable housing
buildings in Woodlawn and neighboring Washington Park that located in Melbourne, FL,previously
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are typical of Chicago's historic building stock but which were owned b��!-}!� y non-profits associated since
abandoned or distressed.These smaller buildings on residential #t f 1966 with neighboring Holy Trinity
blocks are appealing to residents who want to live in historic E , Episcopal Church.
gre stone or courtyard-styleapartment buildings.
The Trinity Towers Apartments consist
Trianon Lofts adds a new dimension to the revitalization project of 510 apartments that house seniors
and includes 24 units of mixed-income housing and more than in three buildings-79%of which are
7,000-square-feet of ground-floor retail space serving a new eligible for"Section 8" low income housing subsidies. POAH's
purchase allowed these properties to be reserved as affordable
market in Woodlawn. P P P P
housing for low-and moderate income seniors,allowing Holy
Billings Forge Trinity to focus on its other mission work.
Billings Forge Apartments When acquiring the property, POAH faced the challenge of
is a 112-unit,43%v Section 8 navigating the distinct rules of the different programs;the
family apartment property transaction benefited,however,from HUD's new rules regarding
located in Hartford's Frog refinancing and sale of these older Section 202 developments,
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Hollow Neighborhood near which make it easier for faith-based owners to transfer properties
the State Capitol. Billings to non-profits specializing in housing. POAH financed the
Forge comprises a historic acquisition with funding from the Low Income Investment Fund.
mill building containing 95 apartments,as well as several smaller Since 2014,POAH was able to leverage those funds plus low
buildings located on the adjacent block which collectively house income housing tax credits from the state of Florida to make
another 17 families. substantial renovations including new kitchens,windows, HVAC,
The previous owner of Billings Forge,the Melville Charitable and roof,ADA and accessibility improvements,pull cords in
Trust,wanted to divest of the property and capture the value bedrooms,fire sprinklers throughout the building,and new fire
of this asset so it could use the proceeds to further its broader alarm system.
mission—while continuing its affiliation with the property.
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Billings Forge The Jackson Franklin Square House Hawthorne Place
Old Middletown High School The Grant Kenmore Abbey Highland Acres
The Burnham
Apartments King's Landing Highland Meadows
Torringford West Renaissance Apartments Machado House at Peter's Houston Plaza
The Washington
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Woodlawn Station Mattapan Square Monroe Estates
Barry Farm
Garfield Hills Meadowbrook Apartments Prairie Plains
Neighborhood Stabilization Rock Harbor Village Woodlen Place
Florida Program: Salem Heights
Campbell Arms various addresses Temple Landing New Hampshire
Cutler Manor The Blackstone Cocheco Park
Maryland Riverview
Cutler Meadows Glen The Residences at
Washington Gardens Mel et Farm Sugar River Mills
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Rhode Island
Trinity Towers East Bay Meadow Tribune Apartments Aaron Briggs Manor
Trinity Towers West Brandy Hill Whittier Street Apartments Beachwood
Trinity Towers South Bridle Path Michigan Cherry Hill Apartments
Briston Arms 8330 On the River Fieldstone Apartments
Illinois Canal Bluffs p
Kankakee: 920 On the Park Grace Apartments
Crestview Village Central Annex/Union Court Missouri Heritage Village
Chestnut Gardens Hillcrest Village
ClayPond Cove Colony Plaza
Chicago Properties: Country Club Village 1 &II Hillside Village
Clarendon Hill Pocasset Manor
Lafayette Terrace Crestview Village
Cromwell Court South Winds
Newberry Park Deerfield Village
Dom Narodovvy Polski Water's Edge
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Housing I
Assistance
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Corporation -
Housing Assistance Corporation Cape Cod
A Brief Description
Since 1974 the mission of Housing Assistance Corporation has been to build a community where everyone has a
safe,stable and decent place to live. To that end,HAC has developed a continuum of housing programs that
range from sheltering to permanent housing development. All programs contain opportunities for and
commitments by clients to develop personal and economic self-sufficiency.
HAC maintains the only homeless shelter for individuals on the Cape and Islands. The NOAH Shelter
accommodates approximately 50 people each night. Adjacent to the shelter is the O'Neill Services center,which
offers various counseling services. Chase House,which is part of the complex,is a residence for individuals
transitioning from homelessness to independence.
Family shelters include Angel House,a residence where parents in substance abuse recovery can heal while
caring for their children and Carriage House,a residence for first-time mothers and their young children. HAC
also operates scattered-site shelters for families and administers Project Prevention,which provides rental and
mortgage payments in emergency situations and coordinates Cape wide prevention assistance.
Housing development commands an increasing share of HAC's attention as available housing stock on Cape Cod
and.the Islands disappears. This department is the"bricks and mortar"of the agency,working independently or
in partnership with other agencies or individuals to construct affordable housing. Over the years,HAC has
participated in the development of nearly 400 affordable housing units, including nine housing developments
between 2006 and 2015.
HAC provides weatherization,heating system repair and appliance replacement programs and an assortment of
repair loans and grants for low-income home owners. HAC manages a group of agency-owned family housing
units and administers more than 700 section 8 rental subsidies for the region and other rental assistance programs,
including those for persons with disabilities.
The Cape Home Ownership Center(CHOC)provides workshops for first-time home buyers and sponsors a j
Housing Info Fair at which hundreds of interested first-time buyers can talk with community lenders and credit
representatives. Loan assistance programs administered by CHOC include the Down Payment and Closing Costs I
Program and the Soft Second Loan Program.
The Family Self-Sufficiency Program is a five year commitment to a course of improvement culminating in the
attainment of a goal,such as education or homeownership. The agency's individual development account(IDA) ;
program combines matched savings accounts with an economic literacy curriculum. HAC believes one of the
greatest assets of this program is the volunteer mentor component,which provides guidance,education,and i
personal counseling.
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HAC has played a key role in founding several human services and housing organizations,most notably the
Massachusetts Non-Profit Housing Association,HOME Consortium,Affordable Housing Loan Consortium,
Lower Cape Cod Community Development Corporation,and the Housing Land Trust for Cape Cod,Inc. The
agency draws considerable support from the community in the form of funding and in-kind donations,volunteers,
workshop instruction,and development collaboration. Our clients have a high success rate in achieving self- F
sufficiency,and many have become HAC employees and board members.
live learn work grow
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460 West Main St. Hyannis, MA 02631 hac@haconcapecod.org 508-771-5400 fax. 508-775-7434 121 �
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POAH
COMMUNITIES
ABOUT POAH Communities
part of the Preservation of Affordable Housing family
Profile
POAH Communities has specialized in the professional management of affordable multifamily housing for j
more than 26 years. Initially founded as Midland Property Management,Inc., POAH Communities(formerly
Preservation Housing Management)became part of the Preservation of Affordable Housing, Inc. (POAH)
family in 2001,and currently manages more than 9,000 affordable housing apartments in Connecticut, the
District of Columbia, Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri,New Hampshire and
Rhode Island. POAH Communities has 350 staff members and maintains its corporate offices in Boston,
Massachusetts. POAH Communities also has satellite offices in Kansas City,Chicago and Miami.
POAH Communities manages a wide range of apartment communities that vary in age,size,geographic
location and physical configuration. The portfolio managed by POAH Communities has been financed
with a variety of affordable housing programs including low income housing tax credits,bonds,
conventional financing and with a multitude of specialized HUD programs and secondary financing
sources. POAH Communities understands how to manage properties with complex financing and equally
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sophisticated compliance and reporting requirements.
Approach to Affordable Multi-family Housing Management
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POAH Communities deals on a daily basis with POAH, HUD,state housing finance agencies and their asset
management sub-contractors,investors, lenders and community housing organizations,community leaders
and residents. POAH Communities brings a consistent,high-level of customer service to each of these groups.
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POAH Communities has a strong record of achieving high scores in management inspections,physical asset
inspections and maintains an excellent record relative to program compliance across the portfolio. POAH
Communities accomplishes this by hiring and retaining talented professionals who are committed to the
business of service. POAH Communities is a strong supporter of minority owned businesses and its employment i
base consists of 350 employees,47%of whom are self-described minority members. POAH Communities is j
proud that its rank and file staff reflects our nation's great diversity.
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POAH Communities is a sophisticated user of Yardi systems for financial reporting and operational
analysis and uses Yardi software at all of its properties along with sophisticated cash management
systems.
POAH Communities operating system features a full-time, 100%dedicated property manager for each
development along with office assistants and a maintenance staff. The property manager reports to an
exxperienced regional property supervisor who typically has more than twenty years of multi-family
property management experience. They are supplemented by other staff that provides technical
assistance and support in Program Support(compliance with housing programs),Accounting,
Information Technology,Training, Marketing and Human Resources.
POAH Communities clients are particularly appreciative of the financial oversight and monthly reporting
that is provided. Each property has a portfolio accountant who is responsible for financial reporting
and who is also responsible for the stewardship of how funds are utilized and the portfolio accountant
provides valuable advice to clients and staff on an almost daily basis. These professionals are trained in
the affordable housing programs(both tax credits and HUD subsidy)and can assist other team members
in meeting property objectives.
POAH Communities works with three major auditing firms and has an excellent record in assisting clients
to secure first-rate audits completed in a timely manner. POAH Communities has never had a qualified
audit or any major program deficiency.
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POAH Communities operations oversight involves a team approach to monitoring financial and
operational performance and solving problems. The performance of its sites is a shared responsibility
starting with the president of POAH Communities on down through all on-site POAH Communities
employees.
Guiding Principles
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■ POAH Communities develops and mentors its employees and instills in them a commitment to
conducting business in a professional and ethical manner.Staff follows a Code of Conduct and
Conflict of Interest policy that assures integrity. POAH Communities operates with total
transparency and freely acknowledges errors and moves quickly to correct them and
incorporate new responses. f
■ POAH Communities consistently focuses on customer service and works to exceed the
expectations of its many customers.
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■ POAH Communities fully embraces the use of Green Products and has an active and
effective program for energy conservation.
■ POAH Communities supports a range of resident services initiatives believing that successful
affordable housing developments need programs which assist residents with life skills. Each
of the properties man-aged by POAH Communities has some form of resident services
program much of which is provided at little or no cost to the property.
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