1. NOTE: To change the image on this slide, select the picture and delete it. Then click the Pictures icon in the placeholder to insert your own image. SHALOM PLAZA I & II 7777 Holmes Road Kansas City, Missouri 64131

2. SHALOM PLAZA

3. Shalom Plaza is... A 192-unit senior affordable apartment community Age restricted to persons 62 and over Federally funded with HUD Section 8, Low Income Housing Tax Credits, HUD Section 202

4. Shalom Plaza: Physical Condition Plaza I and II are beautiful, solidly built properties. Recent physical needs assessment confirms the high quality of the properties. Past HUD REAC scores consistently have been in the mid-to-high 90's but have dropped. T HE PROPERTIES REQUIRE AN OPERATIONAL TURN AROUND, NOT A PHYSICAL REHABILITATION.

5. Shalom Plaza: Needs New Ownership an Operational Turn Around THIS PROPERTY IS QUICKLY GOING DOWNHILL AND WILL CONTINUE ITS DECLINE WITHOUT AN EXPERIENCED OWNER AND OPERATOR. Current Ownership Is an out-of-state company engaged in sectors other than housing and has limited experience and focus on affordable housing. Is exiting the affordable housing industry with the sale of their entire portfolio, which includes Shalom Plaza. Current Management HUD REAC scores have fallen from 94 to 76

6. SHALOM PLAZA: Why We Are Here FFAH: Buying 11 properties: -9 in North Carolina -1 in St. Louis -1 in Kansas City, Missouri (Shalom Plaza) $75 Million Acquisition Using Bond Authority of Public Finance Authority of Wisconsin vs. 11 separate bond transactions

7. SHALOM PLAZA: Why We Are Here PFA and IRS Require: Require permission to play in another City’s back yard TEFRA Hearing All other municipalities have passed similar resolutions All other municipalities have held TEFRA Hearings

8. SHALOM PLAZA: Impact on City No Financial Exposure or Liability to City - Simply getting permission to “play” in K.C.’s back yard No Change in Facility Character Better Owner and Operator

9. Our Structure for Shalom Plaza: Structure Owner: a 501(c)(3) public benefit nonprofit corporation Property Manager:

10. Foundation for Affordable Housing Mission FFAH creates safe, comfortable, high- quality homes that uplift the lives of our residents and enhance the surrounding neighborhoods. We focus on the financial and environmental sustainability of each of our residential communities, allowing us to provide affordable homes for those who need it most.

11. Foundation for Affordable Housing: Nonprofit Owner Building Homes, Creating Communities, Elevating Lives FFAH has served the low-income and senior community for more than 25 years. We own and operate over 15,000 affordable units in more than 100 communities. Our properties located in California, Colorado, Texas, Oregon, Georgia, North Carolina and Kansas City. Our asset management team takes an active, hands- on approach.

12. PK Management: Onsite Property Management PK Management currently manages over 18,000 units spread throughout 151 properties in 23 states. PK is dedicated to providing residents with affordable housing options, as well as a wide range of resources and amenities to lead happy and successful lives.

13. PK Management Types of properties managed: Section 8 Senior Living Multifamily LIHTC Conventional Awards: 2014 NAHMA (National Affordable Housing Manage- ment Association) Communities of Quality Award 2014 The Award for Excellence in Multi-cultural Aging 2013 Platinum Award for Resident Services (PAHMA) 2012 Leadership & Affordable Housing Award 2011 AMO (Accredited Management Organization) 2010 Energy Star Award

14. Exterior Roof replacements and repairs Parking lot repairs Energy efficient LED lighting upgrade Interior Replace domestic water boilers Energy efficient lighting upgrade Low flow / water efficient plumbing upgrade Common area upgrade – new furniture and fixtures New flooring Paint SHALOM PLAZA: Planned Improvements

15. SHALOM PLAZA