2023-07-24T11:54:41-04:00 2022-12-31 860811326 J A HONDORP CPA LTD 60 E RIO SALADO PKWY STE 900 Tempe AZ 85281 990 2022-01-01 264584304 OUR COASTAL VILLAGE INC OURC 8857 N 63RD PLACE PARADISE VALLEY AZ 85253 K LAYNE MORRILL PRESIDENT 6024326291 2023-05-15 false K LAYNE MORRILL XXX-XX-XXXX RANDY L DETHERAGE P01279364 4807550701 2023-07-24 0 00 AAL2 IAL1 2022 2023-04-26 12:10:37Z 120895 false X OURCOASTALVILLAGE.ORG X 2009 OR PROVIDING RELIEF TO THE POOR, DISTRESSED, AND DISADVANTAGED ON THE CENTRAL OREGON COAST, PRIMARILY THROUGH AFFORDABLE HOUSING. 5 3 0 5 0 0 159800 155958 37081 14500 6322 -49563 0 203203 120895 0 0 0 0 0 683351 96547 683351 96547 -480148 24348 2676919 2851716 422500 422500 2254419 2429216 PROVIDING RELIEF TO THE POOR, DISTRESSED, AND DISADVANTAGED ON THE CENTRAL OREGON COAST, PRIMARILY THROUGH AFFORDABLE HOUSING. false false 48772 SUPERVISION OF AN AFFORDABILITY COVENANT APPLICABLE TO SEVEN TOWNHOUSE UNITS OWNED BY PERSONS EARNING AT OR UNDER 80% OF AREA MEDIAN INCOME. ALL FUTURE BUYERS OR TENANTS MUST MEET THE INCOME ELIGIBILITY. RESALE PRICES CANNOT EXCEED THE PRICE PAID PLUS 2% PER YEAR FOR EACH FULL YEAR OF OWNERSHIP. 41547 DEVELOPMENT OF A 24 UNIT LIHTC AFFORDABLE RENTAL HOUSING COMPLEX IN FLORENCE OR, KNOWN AS OAK MANOR APARTMENTS, WHICH WILL BE AVAILABLE TO HOUSEHOLDS EARNING AT OR UNDER 60% OF AREA MEDIAN INCOME. CONSTRUCTION WILL BEGIN IN APRIL 2023 AND COMPLETION WILL OCCUR IN APRIL 2024. 6228 14460 OPERATION OF A 21 UNIT LIHTC AFFORDABLE WORKFORCE HOUSING DEVELOPMENT THROUGH FISTERRA GARDENS TOWNHOMES LP, A LIMITED PARTNERSHIP IN WHICH OUR COASTAL VILLAGE , INC. IS GENERAL PARTNER. THE PROJECT WAS COMPLETED IN 2019. ALL UNITS ARE SET ASIDE FOR HOUSEHOLDS EARNING NOT MORE THAN 60% OF AREA MEDIAN INCOME. SINCE COMPLETION ALL UNITS HAVE BEEN RENTED TO ELIGIBLE HOUSEHOLDS. 96547 true false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false true false true false false false false true true false false false false true 0 0 0 false false false false false false false false false false false false false false false false false X 5 3 true false false false false false false true true true false false true true true false true true false false OR X X K LAYNE MORRILL 6024326291 8857 N 63RD PLACE PARADISE VALLEY AZ 85253 K LAYNE MORRILL PRESIDENT DIRECTOR 0.00 0.00 X X 50000 0 0 DENNIS SNYDER DIRECTOR 0.00 0.00 X 0 0 0 JAMES CRAIG DIRECTOR 0.00 0.00 X 0 0 0 ELIZABETH MORRILL DIRECTOR SECRETARY 0.00 0.00 X X 0 0 0 50000 0 0 0 false false false 155958 155958 FGT DEF DEV FEES 531390 14500 14500 14500 2535 2535 -52098 -52098 -52098 -52098 120895 -35063 0 0 X DEVELOPMENT EXPENSES 53050 53050 43497 43497 96547 96547 0 0 390535 512651 179744 48393 2106640 2290672 2676919 2851716 422500 422500 422500 422500 X 2254419 2429216 2254419 2429216 2676919 2851716 X 24348 150449 0 X false false false X 18000 6660 7500 9800 5958 47918 18000 6660 7500 9800 5958 47918 19466 28452 3267 3609 5598 4122 13158 29754 77672 235609 0.36630 0.43600 X GP EQUITY INVESTMENT FGT 48393 C 48393 SPONSOR SUBORDINATED LOAN TO FGT 1963060 C OMA COSTS CAPITALIZED 327612 C 2290672 K LAYNE MORRILL DIRECTORPRES 50000 DIRECTOR FEES false Supplemental Information for Schedule L OUR COASTAL VILLAGE, INC. DEVELOPED A 7-UNIT AFFORDABLE HOUSING PROJECT IN YACHATS, OR AT A COST OF ABOUT $1.5 MILLION. T$HE PLANNING FOR THAT PROJECT BEGAN IN 2009 AND ZONING CHANGES WERE REQUIRED THAT TOOK NEARLY TWO YEARS. THEN THE DESIGN AND PLANNING PHASES TOOK ANOTHER YEAR; FOLLOWED BY CONSTRUCTION. THE PROJECT WAS LEASED TO QUALIFYING TENANTS FOR FIVE YEARS BEFORE WE WERE ABLE TO QUALIFY OUR FIRST TENANT FOR A LOAN TO PURCHASE THE TOWNHOUSE HE WAS RENTING. SINCE THEN, WE HAVE SOLD ALL SIX REMAINING UNITS, FOUR OF WHICH SOLD IN 2021. ALL UNITS HAVE BEEN SOLD ON A BASIS THAT MAKES THEM PERMANETLY AFFORDABLE. THROUGHOUT THE FIVE-YEAR DEVELOPMENT PERIOD MR. MORRILL TOOK NO COMPENSATION FOR SERVICES RENDERED. A TYPICAL DEV FEE IS ABOUT 15% OF A PROJECTS COSTS WHICH IN THIS CASE WOULD BE $225,000. THE BOARD APPROVED A $100,000 DEVELOPMENT FEE FOR THIS PROJECT. IN 2018, THE FIRST $27,000 WAS PAID, IN 2019 ANOTHER $27,000 WAS PAID, AND IN 2021 THE FINAL $46,000 WAS PAID. OUR COASTAL VILLAGE, INC. DEVELOPED A 21-UNIT AFFORDABLE WORKFORCE HOUSING PROJECT IN YACHATS, OR WHICH IS OWNED BY FISTERRA GARDENS TOWNHOMES LP, OF WHICH OUR COASTAL VILLAGE, INC. IS THE GENERAL PARTNER. ON THIS PROJECT, OUR COASTAL VILLAGE INC. IS ALLOWED A DEVELOPMENT FEE OF $650,000 PAYABLE OVER TIME. IN 2018 AND 2019 OUR COASTAL VILLAGE, INC. RECEIVED TOWARD THIS DEVELOPMENT FEE A TOTAL OF $239,000. IN 2020, OUR COASTAL VILLAGE, INC. RECEIVED $153,532 TOWARAD THE DEVELOPMENT FEE. THE REMAINING BALANCE OF $257,860 WILL BE PAID OVER A PERIOD OF THIRTEEN YEARS. IN 2020 AND 2021 RESPECTIVELY OCV RECEIVED $10,169 AND $14,500 TOWARD THE DEFERRED DEVELOPMENT FEE. IN 2016-2018 MR. MORRILL RECEIVED NO COMPENSATION FOR HIS WORK ON THE FGT PROJECT. AFTER COMPLETION, THE BOARD APPROVED A DEVELOPMENT FEE TO MR. MORRILL FOR HIS SERVICES ON THE FGT PROJECT EQUAL TO 50% OF THE DEVELOPMENT FEES OCV RECEIVED FROM THE OWNER, OR $325,000. IN PRIOR YEARS $242,082 WAS PAID TO MR. MORRILL TOWARD THIS DEVELOPMENT FEE. IN 2022 OCV PAID MR. MORRILL $4,000 TOWARD THIS DEVELOPMENT FEE. THE UNPAID BALANCE IS NOW $78,918 PAYABLE IN FUTURE YEARS. Officer directors etc family relationship Part VI line 2 K. LAYNE MORRILL AND ELIZABETH R. MORRILL ARE HUSBAND AND WIFE Form 990 governing body review Part VI line 11 THE BOARD REVIEWS THE FORM 990 AT THE NEXT MEETING AFTER IT IS FILED. Officer director etc mailing address Part VI line 9 DENNIS SNYDER, PO BOX 208, YACHATS, OR 97498-0208JAMES CRAIG, 852 AQUA VISTA LOOP, YACHATS, OR 97498 Conflict of interest policy compliance Part VI line 12c WE ARE A SMALL ORGANIZATION AND ENGAGE IN VERY FEW TRANSACTIONS. ALL MEMBERS OF THE BOARD OF DIRECTORS ARE AWARE OF ALL TRANSACTIONS AND REVIEW THE CONFILICT OF INTEREST POLICY AS A REGULAR ITEM AT BOARD MEETINGS. CEO executive director top management comp Part VI line 15a THE PROCESS OF DETERMINING COMPENSATION FOR THE PRESIDENT/DIRECTOR WAS REVIEWED AND APPROVED BY THE ORGANIZATIONS BOARD Governing documents etc available to public Part VI line 19 A COPY OF THE FORM 990 IS FILED WITH THE STATE OF OREGON DEPARTMENT OF JUSTICE AND IS AVAILABLE FOR REVIEW THROUGH THAT ORGANIZATION. WE HAVE COPIES OF OUR GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY IN ELECTRONIC FORMAT THAT WE EMAIL TO PERSONS WHO REQUEST THEM. OUR GOVERNING DOCUMENTS ARE ALSO POSTED ON OUR WEBSITE. List of other expenses Part IX line 24e AVS SALES 33,366GRANTS TO OTHERS 5,000AVS SUPERVISION 240LEGAL & ACCOUNTING 1,950RESIDENT SERVICES FGT 2,227TAXES & LICENSES 590MISC EXP 84FGT OPERATONS 40 Part XI response or note to any line in Part XI PRIOR PERIOD ADJUSTMENT - WE INADVERTENTLY UNDERSTATED THE CASH ON HAND AT THE BEGINNING OF THE YEAR. JHWF LLC NO EIN 8857 N 63RD PLACE PARADISE VALLEY AZ 85253 HOLDS TITLE TO TOWNHOMES OR OUR COASTAL VILLAGE INC FISTERRA GAREENS TOWNHOMES LTD PTNS 8857 N 63RD PL PARADISE VALLEY AZ 85253 320512223 AFFORDABLE HOUSING OR OUR COASTAL VILLAGE INC RELATED -40 5047 false false 0.00010