Gorman Markets and Development Leadership WI AZ FL IL CO

Gracie’s Village, Tempe, AZ Light Rail TOD, 9% Affordable, Mixed U se

Coffelt-Laramoux, Phoenix, AZ

A Typical Building at Coffelt

Coffelt-Laramoux, Phoenix, AZ

Overview of Financing Sources: RAD Vouchers Monetized as First Mortgage – 221(d)(4)$ 14,150,000 LIHTC Equity$ 15,596,367 HTC Equity$ 5,175,840 Seller Financing$ 5,000,000 State Housing Funds$ 1,500,000 Phoenix CDBG $ 650,000 Housing Authority Modernization Funds/Existing Reserves$ 1,602,000 Deferred Developer Fee$ 397,864 Total$ 44,072,071 Uses: Acquisition$ 5,000,000 Hard Costs$ 27,551,427 Soft Costs$ 10,506,865 Reserves$ 1,013,779 Total$ 44,072,071

Fairgrounds Valley Neighborhood, Rockford, IL

Fairgrounds Valley, Rockford, IL Public Housing, RAD Conversion Existing conditions

Fairgrounds Valley, Rockford, IL Existing conditions

Existing Fairgrounds Valley site Site of 1 st Phase of Replacement Housing

Site of 1 st phase of Fairgrounds Valley Redevelopment

Overview of Financing Sources: RAD monetized as First Mortgage$ 1,315,087 LIHTC Equity$11,944,937 Citibank Soft Funds$ 1,400,000 DCEO Energy Grant$ 105,000 AHP$ 500,000 Deferred Fee$ 397,574 Total$ 15,644,698 Predevelopment Financing from CSH$ 1,553,890 Uses: Acquisition$ 300,000 Hard Costs$ 11,308,330 Soft Costs$ 3,444,411 Reserves$ 591,957 Total$ 15,644,698