2. Buckeye Community Hope Foundation Relevant Qualifications, Resume and LIHTC Experience  Buckeye Community Hope Foundation (BCHF) is a non-profit developer of affordable housing that has extensive experience developing affordable housing in multiple states throughout the Midwest, Appalachia and Southeast.  BCHF was incorporated in 1991 and received 501(c)(3) designation from the Internal Revenue Service  BCHF’s portfolio of developments consists of 79 projects with more than 3,169 units of which BCHF is the general partner, Joint Venture Partner, and developer. BCHF is the general partner of an additional 94 units in two projects of which it was not the developer Organizational Structure  BCHF’s Development Department currently has eight full-time staff with varying areas of expertise.  Internal construction, design, development, education management, and social services  Working in 10 states – attempting to enter NC - we welcome the opportunity

3. BCHF Preservation activity 12 - year 15 properties  Ottawa Retirement Village  Sheffield Meadows Apartments  Sidney Village Apartments  Jevue Club Apartments  Harding Centre Apartments  Hokolesqua Apartments  123 Club Apartments  90 Dillon Apartments  High Meadows Apartments  Club View Apartments  Buckeye Community Apartments  Dunham Green Apartments

4. BCHF Project Overview  Executed 9 projects completed  Locations were diverse  Rural, suburban, fringe urban location  7 with Ohio Capital Corporation for Housing  Managed investor exit costs - range from $1,000 - $70,000  Motivation of investor to keep property affordable to work on their exit  Sell to owner to continue to operate as affordable  None re-syndicated

5. Investor Motivations  Sold all deals with restrictive covenants in place  Most cases market / affordable rent were equal  No windfall  Favorable tax treatment in Ohio for affordable projects  Typically able to take cash vs put cash  Favorable factors in 2010  Lot of money on side lines  Sale strategy vs. own strategy  BCHF was able to get locals to buy apartments  Was ‘hip’ to own an apartment project

6. Key Points and Observation  Work with an investor you trust - like CAHEC  Think about the exit early – Plan before you close  15 years comes quick  Keep Debt Low – Keep Debt low  Qualified contract – resistant to go through that process  No financing issues to speak of  Address in year 1  Keeping debt low  In Ohio  No strong Policy to support re-syndication  Prefer to utilize 4% program  Keep debt low

7. High Meadows Apartments 40 Family Units of Affordable Housing 8 2-bedroom units and 32 3-bedroom units Placed in Service: 1996 Total Development Cost: Approx. $2,000,000.00  Sold for $1.2  Debt was $700k on per unit basis  Reason to sell to put too much money into next 10 year  Why – credit prices were lower  Reserves were inadequate to address long term physical needs

8. Buckeye Community Apartments 44 Family Units of Affordable Housing 18 2-bedroom units and 28 3-bedroom units Placed in Service: 1994 Total Development Cost: Approx. $2,300,000.00  Buckeye community apartments in 1993 – got rid of that one in troy  Sold it to a local investor who paid $25,000 per unit  Debt was $16,000 per unit – exit strategy sale  Reasons to sell vs re-syndicate

9. Dunham Green Apartments 32 Family Units of Affordable Housing 12 2-bedroom units and 20 3-bedroom units Placed in Service: 1997 Total Development Cost: Approx. $1,900,000.00 Sold units again $400k over the mortgage

10. Sidney Village Apartments 34 Family Units of Affordable Housing 4 1-bedroom units, 8 2-bedroom units, 14 3-bedroom units & 8 4-bedroom units Placed in Service: 1997 Total Development Cost: Approx. $2,100,000.00 Sold for $200k over debt.

11. Harding Centre Apartments 67 Elderly Units of Affordable Housing 6 0-bedroom units and 61 1-bedroom units Placed in Service: 1997 Total Development Cost: Approx. $5,600,000.00  Historic rehab in Marion  Went to state agency  Sold to local organization  Converted to student housing  Gave investor $1,000  Gave project away for free to get rid of the feed.