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FAIRMONT RANCH <br />A Neo-traditional Community <br />Proiect Particulars: <br />Land area —18 acres <br />80 — 2 car garage, 4 bedroom 12'/s bath rental homes <br />4.5 homes per acre including detention area <br />Garage rear entry access (alley) <br />1,432 SF average size <br />Large traditional front porches <br />Stone and concrete penetrated siding exterior <br />Pavestone accents at driveways <br />Private access gate entry with full perimeter fencing <br />On -site management <br />Community pool and playground <br />9' Ceiling heights <br />Energy Star rated buildings <br />Project Management: <br />1. Homes are restricted rentals for a period of 40 years and may not be sold. <br />2. Management provides for continuous maintenance including painting, <br />lawn services, trash removal, etc. <br />3. Management controls residents as to compliance with project rules and <br />regulations <br />4. Management controls resident profile through felony and credit <br />background checks. <br />Financing - <br />Fairmont Ranch will be requesting Federal Tax Credits .to offset <br />construction costs. The cost of each home is estimated to be $131,114 or <br />total development cost of $10,489,120. In addition to offsetting <br />construction costs, the purpose for requesting Federal Tax Credits would <br />be to provide affordable rental housing to working moderate income <br />households such as teachers, policemen, firefighters, etc. This project will <br />not be Section 8 housing (see enclosed TDHCA program). <br />