2 Residential Communities Initiative Military Housing Privatization (MHPI) Act - 1996 Eliminate Inadequate housing through public-private partnerships Leverage Army assets to attract private capital to support the operation, renovation, and construction of housing for the long term Over 80,000 homes in the Military Family Housing portfolio APG -RCI Vision o “PARTNERSHIP “with the APG Garrison o Enhance quality of life for APG Families o Long-term partnership with developer who has vision, commitment, and financial ability to provide sustainable housing in quality neighborhoods.
3 Introduction to Picerne Families First Mission Vertically integrated Dedicated partner of the Army at Forts Meade, Bragg, Rucker, Riley, Polk, Sill and APG with approximately ~20,000 homes. Picerne in Maryland o Involves ~17% of Picerne Portfolio o Managing over 3,500 homes ®
4 Program Overview Initial Development Period - 6 Years o 210 New homes o 1 Neighborhood Center o 102 Historic Renovations o 65 Major Renovations o Deferred Maintenance o Over 600 demolitions Secondary Development Period – 44 Years o Capital Repair/Improvement o Renovations o New Construction
5 Property Management Professional management and maintenance teams focused on Customer Service: o Quality customer service o Building a sense of community 24/7 Maintenance Services to improve the quality of life o Grounds Maintenance including landscaping and weather-related clean up o HVAC o Plumbing o Painting o Cleaning o Carpeting o Pest Control o Electrical o Preventative Maintenance o Ongoing energy-efficiency upgrades
6 Construction and Development Deferred Maintenance o Interior and Exterior o Painting, New Flooring, Lighting, Finishes/Appliances, Landscaping/Curb Appeal New Home Construction Historic Home Renovations Site Work Major Renovations Ancillary Construction
8 Impact to Local Community Small business opportunities in Property Management, Construction and Development providing a direct benefit to local communities APG, MD o 80% ($68 million) of the Project’s development costs are spent on local, small and disadvantaged businesses. o $81 million in development costs and $28.5 million in operating expenses in the first 6 years. o 65% of the construction subs in place today are local Small Businesses