1. Civic Park Redevelopment A RAD Project October 16, 2014

2. RAD Facts First RAD Applications submitted late 2012 60,000 Units in demonstration phase – 117,104 Units are currently on the RAD waiting list – 3,424 are in NC, third highest amount in the nation Conversion of Public Housing Subsidies into a long- term project-based Section 8 contract Right to Return PHA control www.radresource.net

3. How does it work? ACC Section 8

4. Why did SHA pursue RAD?

6. Housing Authorities Options for Conversion

7. Civic Park Today

8. Civic Park Tomorrow (9% LIHTC – 2 phases)

9. Civic Park Tomorrow (9% LIHTC)

10. Pine Hills and Brook View Today

11. Boundary Apartments Today

12. Pine Hills and Boundary Apts Tomorrow (20 Year Systems Replacement Plan) Possible Debt via Conventional Loan

13. Carpenter’s Corner Today (Conversion Only)

14. RAD Process - Developer and PHA PHA Process Developer Process Development Partner Selection CHAP Award RAD Application Physical Needs Assessment Amendment to PHA Plan (RAD Milestone) Amendment to PHA Plan (RAD Milestone) Tax Credit Application Obtain Financing LOI’s (RAD Milestone) Tax Credit Award

15. RAD Process - Developer and PHA PHA Process Developer Process Submit RAD Closing Package RAD Conversion Commitment Financing Plan (RAD Milestone) Financing Plan (RAD Milestone) Tenants Sign PBRA/PBV Leases Implement Multi-family and LIHTC Compliance Plan Finance Closing Remove Units from PIC and add to TRACS Relocate Residents

16. Lee Cochran Laurel Street Residential lcochran@laurelstreetres.com Tel 704.561.5230 511 East Boulevard Charlotte, NC 28203 www.laurelstreetres.com Sam Foust Salisbury Housing Authority fousts@salisburyhousingauthority.com Tel 704.636.1310 200 Martin Luther King Jr Ave N Salisbury, NC 28144 www.salisburyhousingauthority.com Contact Information www.radresource.net