1. 1 George Mensah Director of Community & Economic Development Dept City of Miami

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4. 4 Total site consist of 4 independent folios 3 properties were purchased in October 2002 using HOME funds initially but was replaced with Bond funds 2 properties were purchased in the seventies using Federal Revenue sharing funds. The resolution authorizing the purchase of these properties said it would be used to extend African Square park. In October 2006, a purchase and sale agreement was entered into with Parkview Gardens, LLC, which was a partnership between Tacolcy Economic Development Corporation, a non-profit community development organization in the community and Carlisle Development Group, a for-profit Tax Credit developer. Site History

5. Development History Project started out as a 40 unit townhouse rental development Received Bonds and 4% tax-credits from Florida Housing Finance Corporation in 2006 In November, 2008, the city approved the replacement of Carlisle Group with Carrfour Supportive Housing The number of units was changed from 40 to 60 units Converted the Bonds and 4% Tax-credits to a 9% Tax- credit Project started out as a 40 unit townhouse rental development Received Bonds and 4% tax-credits from Florida Housing Finance Corporation in 2006 In November, 2008, the city approved the replacement of Carlisle Group with Carrfour Supportive Housing The number of units was changed from 40 to 60 units Converted the Bonds and 4% Tax-credits to a 9% Tax- credit 5

6. Development History Permits, zoning approvals, zoning variance, community challenges, OIG investigations took more than 2 years Ground breaking on Sept 27, 2011 Opening Ceremony October 30 th, 2012 Permits, zoning approvals, zoning variance, community challenges, OIG investigations took more than 2 years Ground breaking on Sept 27, 2011 Opening Ceremony October 30 th, 2012 6

7. Construction Financing 7 Lender Amount JP Morgan Chase $ 5,000,000 First Housing $ 3,000,000 Miami Dade County Surtax $ 1,600,000 Equity Investor (Tax Credits) $ 1,836,500 City of Miami (HOME) $ 343,000 Deffered Developer Fee $ 787,000 Total $ 11,779,500

8. Permanent Financing 8 Lender Amount RBC Capital (Tax-Credit Equity) $ 9,100,000 Miami Dade County Surtax $ 1,600,000 City of Miami (HOME) $ 343,000 Deferred Developer Contribution $ 736,500 Total $ 11,779,500

9. Project Mix 9 UnitUnit SizeUnit Count 1 bdrm/1 bath588 20 2 bdrm/2 bath998 20 3 bdrm/2 bath1122 20 Total 60

10. Project Description 10 Parkview Gardens consists of six, three-story residential buildings, a community center, and a two-story parking garage. Amenities children‘s playground, exercise room, computer lab, library picnic area.

11. Income Set-asides 11 Maximum resident income60% AMI Set-Asides: 6 units at 33% AMI

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25. 25 Please join us for a ribbon-cutting ceremony in commemoration of our newest affordable housing community, Parkview Gardens. Located in Miami’s Liberty City neighborhood, this two-story development consists of 60 garden-style apartment units which provide permanent and affordable housing for about 200 people. Tuesday, October 30, 2012 at 10:00am Parkview Gardens Community Center 1437 NW 61st Street Miami, FL 33142 Breakfast and refreshments to be served. To RSVP, please contact Stephanie Berman at sberman@carrfour.org.sberman@carrfour.org