1. Midwest Lenders 16th Annual Conference Opportunity Zone Panel
Overview - Update - Case Studies

2. Opportunity Zone Panel Overview Overview of the Program
HUD Update – Housing Notice and Section 220 Memo
Case Studies
Underwriting Considerations
Q&A

3. Case Study – Opportunity Zone
Washington D.C.
Summary of the Deal
HUD Process to Date
Mortgage Credit Review

4. Organizational Chart – Example
Project
Mortgagor LLC
100%
Opportunity Zone Fund LLC
(Managing Member)
Developer
(Member)
85%
15%
Individual or Trust
(Member)
Sponsor of OZ Fund
(Managing Member)
99.0%
1.0%

5. Case Study – Opportunity Zone
Washington D.C.
Benefits of the Opportunity Zone Structure
Key Take-Aways
Additional Equity
Equity Economics
Passive Investor Benefit – Financial Wherewithal
Understanding the HUD Process