1. LEVERAGING NIBP 11 Broadway, Williamsburg, Brooklyn, NY NIBP New Construction 160 Apartments of Mixed-Income Families Commercial Space: Full-size Supermarket

2. LEVERAGING NIBP Late 2009 - New York City Housing Development Corporation (HDC) issues $500 million of bonds under the Federal New Issue Bond Program (NIBP) During 2010 and 2011, HDC undertook 5 releases of NIBP Bonds to finance the construction and rehabilitation of 47 multifamily affordable developments. 15 are new construction projects with 1,993 units and 32 are preservation projects with 5,555 units. The NIBP program bonds were combined with $454 million in market-rate bonds to finance these developments. Combined NIBP/Market-financed units total 7,635 with total development costs in excess of $1.7 billion Work on NIBP developments will generate approximately *10,300 direct and indirect jobs Every $1 of NIBP funding has leveraged, on average, $6.22 for new construction and $1.57 for rehabilitated developments (program-wide leverage ratio is $2.44) NIBP developments will provide sustainable, affordable housing, help strengthen the communities they are located in and contribute to the Citys economic recovery *Job creation numbers are based upon a model developed by NYC Economic Development Corporation (EDC). The model draws upon the Regional Input-Output Modeling System or RIMS II used by the Federal Bureau of Economic Analysis (www.bea.gov), adjusted for inflation using the Producer Price Index and Consumer Price Index.www.bea.gov

3. OCELOT APARTMENTS MOUNT HOPE, BRONX, NY Apartment Income Distribution: Low Income: 50% - 60% AMI (*$41,500 - $49,800) 105 Market Rate: Rents at 60% AMI ($871 - $1,295) 11 Superintendent 3 Total Units: 119 Financing: Total Development Cost: $ 21.6 M ($181,512/du) First Mortgage Amount:Construction - $ 09.4 M ($ 78,991/du) Permanent - $ 01.6 M ($ 13,445/du) Non-HDC Financing: HPD Subsidy$13,585,811 ($114,166/du) LIHTC Equity $05,206,935 ($ 43,756/du) ($0.90/credit) Def. Dev. Fee$01,135,683 ($ 9,544/du) Construction LOC Type and Bank Rating : Stand-by LC from Bank of New York Mellon (Aaa/AA) REMIC 20% Mortgage Insurance Proposed Tax Abatement/Exemption: 100% Article XVI HDC Funding Source:Open Resolution, Tax-Exempt Fixed Rate Bonds Leverage Ratio: 6.76:1 Job Creation: 120 *Figures are based on family of 4 2012 AMIs for Non-HERA impacted developments

4. LINDENGUILD HALL CROTONA PARK, BRONX, NY Apartment Income Distribution: Low Income: 60% AMI ($49,800 for a family of 4) 103 Superintendent 1 Total Units: 104 Housing for formerly homeless veterans Financing: Total Development Cost:$ 34.3 M (LEED Silver) First Mortgage Amt:Construction - $ 17.7 M ($170,192/du) Permanent - $ 04.2 M ($ 40,385/du) HDC Subsidy $ 06.8 M ($ 65,000/du) Non-HDC Financing: HPD City Capital$ 05.8 M($ 55,769/du) FHLB Grant$ 01.4 M($ 13,462/du) Tax Credit Equity$ 13.5 M($ 129,808/du) ($1.00/credit) Developer Loan$ 02.4 M($ 23,077/du) Construction Credit Enhancement: Bank of America by LOC Tax Abatement/Exemption: 420c HDC Funding Source: Tax-Exempt Fixed-Rate Bonds Leverage Ratio: 15.30:1 Job Creation: 206

5. THE BRADFORD BEDFORD STUYVESANT, BROOKLYN, NY Apartment Income Distribution: Middle Income: 130% AMI ($107,900 family of 4)051 Middle Income: 125% AMI ($103,750 family of 4)032 Very Low Inc.: 030% AMI ($024,900 family of 4)021 Superintendent 1 Total Units:105 Commercial Space:9,700 square-feet *as well as 29 below grade parking spaces Financing: Total Development Cost: $ 44.38 M (LEED Silver) First Mortgage Amt: Constr & Perm: $ 20.83 M ($198,380/du) HDC Subsidy $ 06.83 M ($65,000/du) Non-HDC Financing: HPD City Capital $ 4,377,554 ($ 41,691/du) HPD HOME$ 1,950,010 ($ 13,000/du) HPD HTF$ 1,050,000 ($ 10,000/du) NMTC Equity $ 6,531,326 ($ 62,203/du) Developer Equity $ 2,933,823 ($ 27,941/du) Construction Credit Enhancement Provider and Bank Rating: Goldman Sachs Bank (Aa3/NR) Tax Abatement/Exemption: 421a HDC Funding Source: Recycled Tax-Exempt Fixed-Rate Bonds Leverage Ratio: 1.71:1 Job Creation: 265

6. NAVY GREEN BROOKLYN NAVY YARD, BROOKLYN, NY Apartment Income Distribution: Middle Income: 100% AMI ($83,000)017 Middle Income: 080% AMI ($66,400)016 Low Income: 40% - 60% AMI ($33,200 - $49,800)078 Superintendent 1 Total Units:112 Financing: Total Development Cost: $ 36.2 M ($323,214/du) First Mortgage Amt:Construction – $ 18.20 M ($162,500/du) Permanent – $ 06.96 M ($ 62,142/du) HDC Subsidy Amt: $ 07.28 M ($65,000/du) Non-HDC Financing: HPD City Capital$ 5,030,000 ($ 44,911/du) HPD HOME$ 2,291,746 ($ 20,462/du) Tax Credit Equity$ 9,884,946 ($ 88,258/du) ( $1.02/credit) State Tax Credit Equity $ 3,749,625 ($ 33,479/du) Construction LOC Type and Bank Rating : Stand-by LOC provided by JP Morgan Chase (Aa1/AA-) Tax Abatement/Exemption: 420c/ICAP HDC Funding Source: Open Resolution, Tax-Exempt Fixed Rate Bonds Leverage Ratio: 5.59:1 Job Creation: 235