1. RENTAL ASSISTANCE DEMONSTRATION (RAD) RADical Transformation of Public Housing NCSHA’s Housing Credit Connect

2. RAD 1 Dashboard 1

3. RAD 1 Volume 2 RAD 1 Calendar Year-End: 258 cumulative deals 50% in CY15 27% in CY15 Q4 27,844 units 52% in CY15 29% in CY15 Q4 $1.85 Billion in construction 73% in CY15 35% in CY15 Q4 Year 2015Transactions Units Converted to RAD Investment Qtr1131,561$323,692,825 Qtr2293,312$242,653,366 Qtr3181,545$133,883,999 Qtr4708,274$668,143,419 Grand Total13014,692$1,368,373,609

4. RAD 1 Closed by PHA Size 3

5. RAD Investments Per Unit 4 NOTE: Percentages derived from RAD 1 closed transactions only through May 3, 2016.

6. RAD 1 Closed Financing Type 5 NOTE: Percentages derived from RAD 1 closed transactions only through May 3, 2016.

7. RAD Geographic Distribution 6 Total Transactions: 858 Total Units: 98,300 Total Transactions: 299 Total Units: 31,998 Closed TransactionsFuture Transactions NOTE: Data derived from RAD 1 closed transactions only through May 3, 2016.

8. RAD 1 Future vs Past Financing Types 7 NOTE: Percentages derived from the entire RAD portfolio (active and closed transactions) through May 3, 2016.

9. RAD 1 Future vs Past Financing Types 8 PBRA vs PBV Trends Over Time (Percentage of Total Units) NOTE: Percentages derived from the entire RAD portfolio through May 3, 2016 (closed and “active” transactions to close in the future).

10. RAD 2 Status 9 Future Rent Supp/RAP Pipeline: 40 active transactions 109 properties in portfolio 67 in NY, NJ and MA The rest in CA, IL, MD, MI, MN, PA & VA 57 properties (52%) expire in 2016 35 properties (32%) expire in 2017 17 properties (16%) expire after that 16,873 Units Converted 150 Transactions NOTE: Data derived from RAD 1 closed transactions only through May 3, 2016.

11. RAD FY 17 Budget HUD Requested the cap on the public housing units be eliminated – Senate Appropriations Committee approved to raise cap to 250,000 units HUD requests expansion to include Section 202 Project Rental Assistance Contracts (PRACs) under 2 nd Component – Approved by Senate Appropriations Committee $50 million requested for incremental subsidy for public housing and Section 202 PRAC conversions; – Senate Bill will make $4 Million available to 202 PRAC conversions HUD requests to authorize a tenant’s right to continued occupancy under the second component; and HUD requests to explicitly permit non-profit control of tax credit partnership and non-profit ownership in the event of foreclosure, bankruptcy, or default occurs. 10