1. Non-Profit Solar Alliance A Proof of Concept Pilot Project for Community-Based Solar

2. 2 Overview Non-Profit Solar Alliance (NPSA) is a small, proof of concept pilot project involving the aggregation of several community-based solar installations in Northern California under a single ownership LLC utilizing Section 48 ITCs Sites include a homeless shelter, a community theatre, and three affordable condominium projects Sponsor is Northern California Land Trust, a developer of rental, cooperative, and condominium projects that provide permanently affordable housing for low-income people

3. 3 Desired Outcomes Off-Takers Affordable Energy More Predictable Energy Costs Long-term, ownership of panels Northern California Land Trust Proving Concept Providing affordable solar to their developments Enterprise Community Investment Inc. Environmental commitment Innovating structure for pilot

4. 4 Sources of Funds ITC equity$ 250,000 Rebates$ 232,000 Loan from NCLT$ 327,000 Total$809,000

5. 5 Structure of Transaction NP Solar Alliance LLC -owns PV, sells power to Service Recipients Enterprise NP Solar Community Alliance Investment, Inc. Corp, 99.99% Investor 0.01% Member Managing Member Enterprise Community Investment, Inc. -provides equity -receives 99.99% of ITC, depreciation Northern California Land Trust (NCLT) -for-profit subsidiary is managing member of NP Solar Alliance LLC -borrows funds from Off-Takers -lends borrowed funds to LLC -receives loan payments from LLC -makes loan payments to Off-Takers Off-Takers -lend funds to NCLT -lease rooftops to LLC -purchase PV power from LLC

6. 6 Issues/Challenges Scale Standardization of Documents Investment Grade? Economics: Going rates for grid electricity vs. rebate/subsidy structure Tax-Exempt Sponsor Structuring of Sponsor/Off-Taker Loan Property Insurance Consumer Law in Installation involving Condo Buyers Disposition

7. 7 For More Information shoekman@enterprisecommunity.com www.enterprisecommunity.com www.greencommunitiesonline.org