m e m o r a n d u m - novogradac & company llp...michael jacobson century lofts i ldha llc 271...

32
M E M O R A N D U M May 11, 2009 TO: All interested parties of the Low Income Housing Tax Credit Program Christopher L. LaGrand FROM: Director of Legal Affairs SUBJECT: May 1, 2009 Funding Round LIHTC Activity and Fee Refund Opportunity Overview of May 2009 Initial Funding Round: Enclosed is a list of projects that applied for Tax Credit in the May 1, 2009 funding round. Information provided includes the name and address of the project, project sponsor and contact person, the amount of credit requested, project self score, total number of units in the project, and number of tax credit units. Applicants are strongly encouraged to review the attached information and determine the likelihood of their project being in a position to receive an award of Low Income Housing Tax Credit. When making this determination, applicants should consider, at a minimum: their application’s self score relative to the self score of other applications, and the amount of credit requested by all applications compared to the amount of credit that is available for the May 1, 2009 funding round. Please note that this list reflects self scores of applicants which have not been evaluated by the Authority. Availability of Credit: Applicants should be reminded that the amount of credit available for the May 1, 2009 funding round was greatly reduced due to provisions of the American Recovery and Reinvestment Act of 2009 (ARRA) which allowed the State Housing Finance Agencies to monetize up to 40% of their 2009 credit ceiling – which the Authority intends to take full advantage of. Therefore, the amount of the 2009 credit ceiling which is available for both May 1, 2009 Funding Round applicants and applications for the Rolling Allocations received after the May 1, 2009 deadline is approximately $13.8 million (approx. $23 million credit ceiling less approx. $9.2 million monetized). In addition, applicants should note that the Authority is considering the use of a portion of its 2010 credit ceiling on an as-needed basis only, to facilitate the use of federal stimulus money made available under ARRA in a timely manner. This is being contemplated to ensure that all funds made available under ARRA can be committed within the federal deadlines that have been set forth. Coordination with ARRA Provisions and Resources: 2009 LIHTC allocations will, by necessity, continue to be coordinated with the Authority’s implementation of the federal Tax Credit Assistance Program (TCAP) and the monetization of credit ceiling. Award of credits and ARRA resources will be distinct, but mutually contingent processes. A contingent award of TCAP for example, may require successful award and syndication of credits, while a credit reservation may be contingent upon a project’s qualification for TCAP funding. Readiness to proceed, measured largely by actual equity commitments,

Upload: others

Post on 26-Jul-2020

1 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

M E M O R A N D U M

May 11, 2009

TO:

All interested parties of the Low Income Housing Tax Credit Program

Christopher L. LaGrand FROM: Director of Legal Affairs

SUBJECT: May 1, 2009 Funding Round LIHTC Activity and Fee Refund Opportunity Overview of May 2009 Initial Funding Round: Enclosed is a list of projects that applied for Tax Credit in the May 1, 2009 funding round. Information provided includes the name and address of the project, project sponsor and contact person, the amount of credit requested, project self score, total number of units in the project, and number of tax credit units. Applicants are strongly encouraged to review the attached information and determine the likelihood of their project being in a position to receive an award of Low Income Housing Tax Credit. When making this determination, applicants should consider, at a minimum: their application’s self score relative to the self score of other applications, and the amount of credit requested by all applications compared to the amount of credit that is available for the May 1, 2009 funding round. Please note that this list reflects self scores of applicants which have not been evaluated by the Authority. Availability of Credit: Applicants should be reminded that the amount of credit available for the May 1, 2009 funding round was greatly reduced due to provisions of the American Recovery and Reinvestment Act of 2009 (ARRA) which allowed the State Housing Finance Agencies to monetize up to 40% of their 2009 credit ceiling – which the Authority intends to take full advantage of. Therefore, the amount of the 2009 credit ceiling which is available for both May 1, 2009 Funding Round applicants and applications for the Rolling Allocations received after the May 1, 2009 deadline is approximately $13.8 million (approx. $23 million credit ceiling less approx. $9.2 million monetized). In addition, applicants should note that the Authority is considering the use of a portion of its 2010 credit ceiling on an as-needed basis only, to facilitate the use of federal stimulus money made available under ARRA in a timely manner. This is being contemplated to ensure that all funds made available under ARRA can be committed within the federal deadlines that have been set forth. Coordination with ARRA Provisions and Resources: 2009 LIHTC allocations will, by necessity, continue to be coordinated with the Authority’s implementation of the federal Tax Credit Assistance Program (TCAP) and the monetization of credit ceiling. Award of credits and ARRA resources will be distinct, but mutually contingent processes. A contingent award of TCAP for example, may require successful award and syndication of credits, while a credit reservation may be contingent upon a project’s qualification for TCAP funding. Readiness to proceed, measured largely by actual equity commitments,

Page 2: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

will be key to receiving TCAP. Further guidance on the TCAP application process (beyond the Notices of Intent to apply previously submitted) will be forthcoming. Opportunity to Withdraw Initial Funding Round Application Without Penalty: If, upon reviewing the attached, an applicant determines there is not a strong probability of their project receiving an award of credit, applicants may request to have their application withdrawn from the funding round and returned to them. Applicants who make this request by May 15, 2009 may also receive a refund of the LIHTC application fee and the market study fee (if the market study has not yet been performed) that were submitted with their application. After this date, all remaining applications will be processed, unless otherwise withdrawn by the applicant, and fees will not be returned. The Authority is making this opportunity available to applicants not only in an effort to expedite the funding round process, but also in an effort to relieve some of the financial burden applicants encounter in the application process. In this economic climate, the Authority is taking this opportunity to allow applicants to not have to incur unnecessary fees on applications that are unlikely to receive an award of credit. In the coming months there will be a large quantity of applications for funding that will have to be processed for various types of funding. This includes projects receiving a prior year allocation wanting to monetize their credit under provisions of ARRA, projects requesting an allocation of TCAP, 2009 9% LIHTC applications, MSHDA-financed tax-exempt bond projects, and others. Due to the large volume of affordable housing projects that will have to be reviewed in the near future, applicants are strongly encouraged to take advantage of this opportunity. It is in the best interest of the parties involved, and the state of Michigan, to be able to expedite any funding processes where possible to put available funding to work in a timely manner. Applicants choosing to take advantage of the opportunity discussed above should notify MSHDA of their intent to withdraw their application and receive a refund of the appropriate fees by emailing a copy of the attached Request for Withdrawal of Application form Carol Thompson at [email protected]. Applicants will also be required to submit the original copy of this form at the time they come to pick up their application and fee refund(s). In addition, if you have any questions regarding the above or about any of the projects listed, please contact LIHTC staff at (517) 373-6007. Enclosure

Page 3: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

REQUEST FOR WITHDRAWAL OF APPLICATION Pursuant to the memo dated May 11, 2009 from Christopher LaGrand, I hereby request the withdrawal of the Low Income Housing Tax Credit application for _________________________________ from the May 1, 2009 Funding Round. I am withdrawing this application with the understanding that no processing, scoring, underwriting, or review of the documents contained in the application has commenced. Further, once withdrawn, the complete application will be returned along with any funds associated with the Tax Credit Application fee and any funds not already expended to conduct the Market Study.

I acknowledge that the supplemental project information provided with the May 11, 2009 memo is preliminary information at this time and may be subject to revision as further project review and ARRA planning is conducted. Name (Print) Organization Signature Date

Page 4: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

LOCATION COUNTY OWNER

101 South Division Lofts Grand Rapids Kent Karl Chew 101 South Division Lofts LDHA LP n/a n/a 49,837$

Bridge Street Place Grand Rapids KentDennis

Sturtevant Bridge Street LDHA LP n/a n/a 69,841$

Hubbard Communitites Detroit WayneTimothy Thorland Hubbard Communities I LDHA LP n/a n/a 152,307$

Sheldon Place II Apartments Gaylord OtsegoDouglas Larner Gaylord II LDHA LP n/a n/a 61,529$

Springview Manor II Evart OsceolaDouglas Larner Springivew II LP n/a n/a 33,476$

McCalla Greene Milan Monroe David Cooper McCalla Greene LLC 341 Yes 373,472$

Fourth Street Senior Housing Clare Clare Lori Pung Fourth Street Senior Housign LDHA LP 327 Yes 344,684$

Emerald Springs IA Detroit Wayne Nick Kolb Emerald Springs I A LDHA LP 304 No 1,500,000$

Emerald Springs IB Detroit Wayne Nick Kolb Emerald Springs IB LDHA LP 304 No 1,451,222$

American House Hazel Park Hazel Park OaklandJoseph

Schwartz HP LDHA LLC 299 Yes 325,999$

American House Oakland Pontiac OaklandJoseph

Schwartz Oakland LDHA LLC 299 Yes 412,498$

New Center Square Detroit Wayne Kathy Makino New Center Square LDHA LP 295 No 807,634$

Medical Center Village Detroit WayneLaurance Tisdale Medical Center Village LDHA LP 285 No 1,117,577$

American House Lakeside II Clinton Twp MacombJoseph

Schwartz Lakeside II LDHA LLC 273 Yes 244,625$

Century Lofts Grand Rapids KentMichael

Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$

Grand Traverse Commons Traverse City Grand TraverseMichael

Jacobson TC Commons I LDHA LLC 271 No 1,474,569$

American House Lakeside I Clinton Twp MacombJoseph

Schwartz Lakesdie I LDHA LLC 267 Yes 248,007$

Coronado Apartments Detroit Wayne Bob Zinser Coronado Square LDHA LP 265 No 482,587$

Comstock Village Kalamazoo KalamazooFreddie DuBose CV Limited Partnership 258 Yes 785,346$

Sault Tribe of Chippewa Indians HA Project #1 Sault Ste Marie Chippewa Joni TalentinoSault Ste Marie Tribe of Chippewa Indians HA TC LP 251 No 471,514$

Brush Estates Detroit Wayne Sam Arabbo Brush Estates LDHA LP 248 No 899,143$

Newport Apartments Mt. Clemens MacombGerald

Krueger Newport 2008 LDHA LLC 245 No 924,359$

Parkview Tower and Square Detroit WayneMichael Tremonti Parkview Tower and Square LDHA LP 244 Yes 1,500,000$

Gardenview Estates II C Detroit WayneRichard Higgins Gardenview Homes IV LDHA LLC 243 No 933,761$

Gabrielle II Highland Park Wayne T. Van Fox Gabrielle II/MHT LDHA LLC 242 No 1,500,000$

Brookwood Gardens Apartments Clare ClareFrank T.

Sinito Brookwood I LDHA LP 238 No 795,997$

Cornerstone Estates II Detroit Wayne John Frasco Cornerstone Estates II LDHA LLC 237 No 988,971$

St. Joseph Senior Detroit Wayne Sam Arabbo St. Joseph Resources Corp 237 No 986,520$

South Saginaw Homes II Saginaw SaginawBrian

McGeady South Saginaw Homes LDHA LLC II 235 No 1,100,695$

Wood Creek Apartments Sault Ste Marie ChippewaStephen Werth JPS Wood Creek LDHA LP 235 No 281,262$

Cornerstone Estates III Detroit Wayne John Frasco Cornerstone Estates III LDHA LLC 234.5 No 979,750$

Coronado Square Apartments Detroit Wayne Kathy Makino Coronado Apartments II LDHA LP 234 No 638,752$

Daystar Estates II Detroit WayneBrian

McGeady Daystar Estates II LDHA LP 234 No 945,548$

Cornerstone Estates I Detroit Wayne John Frasco Cornerstone Estates I LDHA LLC 232 No 942,053$

Northwind/Hilltop Apartments Kalamazoo Kalamazoo Willie Martin Northwind/Hilltop 2006 LDHA LP 224.5 No 1,143,772$

Cutler View Spring Lake Ottawa Lori Pung Cutler View LDHA LP 223 No 313,980$

Eliza Howell East Detroit Wayne John O'Brien Eliza Howell East LDHA LP 222 No 940,502$

Ephesus Homes II Detroit Wayne

Bishop Walter E. Rushton

Sr. Ephesus Homes II LDHA LP 222 No 940,502$

Peace Estates Detroit WaynePastor David

Jefferson Peace Estates LDHA LP 222 No 940,502$

Smith Street Homes Detroit WayneJames Perkins Smith Street Homes LDHA LP 222 No 1,180,652$

Bella Vista Glen Highland Park Wayne T. Van Fox Bella Vista II/MHT LDHA LLC 221 No 853,215$

Ecclesia Homes Detroit WayneRichard Snead Ecclesia Homes LDHA LP 221 No 940,502$

CONTACT

ADDITIONAL CREDIT

GENERAL

SELF SCORE INCLUDING

TCAP POINTS

PROJECT INFORMATION

PROJECTLIHTC

REQUESTEDHARD

EQUITY

Page 5: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

LOCATION COUNTY OWNER CONTACT

SELF SCORE INCLUDING

TCAP POINTS

PROJECT INFORMATION

PROJECTLIHTC

REQUESTEDHARD

EQUITY

Riordan Park Detroit Wayne John O'Brien Riordan Park LDHA LP 221 No 940,502$

Tamarack Apartments Holt Ingham Willie Martin Tamarack 2009 LDHA LP 216 No 747,802$

Village Estates Detroit Wayne Felicia Turner Amandla Estates LDHA LP 216 No 987,786$

Ginger Square Apartments Owosso ShiawasseeGerald

Krueger Ginger Square 2009 LDHA LLC 213 No 700,014$

Woodside Square Apartments Romulus WayneGerald

Krueger Woodside Square 2009 LDHA LLC 212 No 506,557$

Village Estates Elderly Detroit Wayne Felicia Turner Amandla Elderly Estates LDHA LP 211 No 968,630$

Whitney Young Village Kentwood KentGerald

Krueger Whitney Young 2009 LDHA LLC 211 No 472,861$

Aldersgate Apartments Oscada IoscoFrank T.

Sinito Aldersgate II LDHA LP 210 No 688,879$

Sarasota Square Detroit Wayne Kathy Makino Sarasota Square LDHA LP 210 No 587,779$

Goodrich Apartments Grand Rapids KentDennis

Sturtevant Goodrich LDHA LP 209.5 No 182,475$

Clairewood Apartments St. Clair St. ClairRonald

Potterpin PK Clairewood Apartments LP 208 No 284,100$

Maple Heights Apartments Saline WashtenawRonald

Potterpin PK Maple Heights LP 207 No 270,801$

Pike Street Square Pontiac OaklandKyle

Westberg Pike Street Square One 206 No 1,385,995$

Sawmill Estates Family II Wayland Allegan Lori Pung Sawmill Estates Family II LDHA LP 205.5 No 98,394$

Lakewood Apartments Stockbridge InghamRonald

Potterpin PK Lakewood Apartments LP 205 No 271,062$

Quail Meadow Apartments Muskegon MuskegonGerald

Krueger QM 2009 LDHA LLC 204 No 650,155$

Whittier Tower Detroit WayneMelvin

Wahington Whittier Tower LDHA LP 201 No 1,500,000$

Alpine Alten Zimmer Gaylord OtseegoAnne

Danosky Alpine Alten Zimmer II 2009 LDHA LP 199.5 No 183,913$

Woodcliff Apartments Ishpeming Marquette Jeff Gates TJ Woodcliff LDHA LP 198 No 129,871$

Scotten Park Detroit WayneTimothy Thorland Scotten Park LDHA LP 197 No 887,804$

Grand Fork Commons Beaverton Gladwin Jeff Gates TJ Grand Fork LDHA LP 195 No 124,625$

Park Plaza Commons Dearborn Heights Wayne Ghaleb Hatem Park Plaza Commons LDHA LP 194 No 1,498,415$

Eldorado Square Aoartments Detroit Wayne Kathy Makino Eldorado Square LDHA LP 193.5 No 810,412$

Gateway Village Frankfort BenzieJoseph

Hollander Frankfort Housing LDHA LP 193.5 No 485,954$

Perry Place Square Pontiac Oakland Kathy Makino Perry Place Square LDHA LP 193 No 700,768$

8900 Gratioit Detroit WayneTimothy Thorland 8900 Gratiot LHDA LP 192 No 833,751$

Pine Bluff Apartments Kingsford DickinsonRonald

Potterpin PK Pine Bluff LP 190 No 327,541$

Rolling Brook Apartments Algonac St. ClairRonald

Potterpin PK Rolling Brook LP 190 No 476,337$

Copper Hills ApartmentsLake Linden/Houghton Houghton

Ronald Potterpin PK Copper Hills Apartments LP 184 No 321,491$

Sandy Pines Apartments Kalkaska Kalkaska Jeff Gates TJ Sandy Pines LDHA LP 176 No 234,454$

Main Street Apartments Berrien Springs Berrien Jeff Gates TJ Main Street LDHA LP 175 No 130,349$

McNichols Place Detroit WayneCharlotte

Knight McNichols Place I LDHA LP 175 No 367,771$

Alpine Village Kalamazoo Kalamazoo Chris Schaap Alpine Village Apartments LDHA LLC 174 No 728,638$

Midtown Village Holland OttawaDennis

Sturtevant Liberty LDHA LP 157 No 645,893$

Allegan Senior Apartments Homes Allegan Allegan Gerald Haan Allegan Community Senior LDHA LLC 152 No 272,094$

Cass Community Detroit WayneRev. Faith

Fowler Cass Community LDHA LP 202 No 894,225$

Lincoln Park Lofts Lincoln Park Wayne Louis Piszker Lincoln Park Lofts LDHA LP 198 No 870,651$

NSO Bell Housing Detroit Wayne Joe Heaphy NSO Bell Housing LDHA LP 186 No 1,500,000$

Wildwood Apartment Homes Westland WayneBradley E.

Froling Schwartz Bradley, LLC 199 Yes 1,021,954$

ROLLING ROUND

PERMANENT SUPPORTIVE HOUSING

Page 6: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

1

MAY 1, 2009 FUNDING ROUND APPLICANTS

Project #: Z09006 Owner Contact: Gerald Haan 231.526.7380 Project Name: Allegan Senior Apartment Homes Allegan Community Senior LDHA LLC

Project Address: 330 Trowbridge Street 380 Franklin Street, Suite 104 PO Box 556

Harbor Springs, MI 49740 Allegan, MI 49010 Amt Requested: $272,094 # Bldgs: 1

County: Allegan Amt Awarded: $0 # Total Units: 18 # LIHTC Units: 18

Funding Round: May Funding Round Category Applied For: General Self Score: 152 Application Date: 5/1/2009 Target Units: Elderly

Project #: Z09004 Owner Contact: Lori Pung 989.779.9995

Project Name: Sawmill Estates Family II LDHA LP Sawmill Estates Family II LDHA LP Project Address: 1185 Eagle Drive 805 W. Broadway, Suite 1

Mt. Pleasant, MI 48858 Wayland, MI 49348 $98,394 1 Amt Requested: # Bldgs:

Allegan $0 8 County: Amt Awarded: # Total Units: 8 # LIHTC Units:May Funding Round General 205.5 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09012 Joe Hollander 269.388.4677 Project #: Owner Contact:Gateway Village Frankfort Housing LDHA LP Project Name: 218 Day Avenue 1822 W. Milham Rd, Ste 1-C Project Address: Portage, MI 49024

Frankfort, MI 49635 $485,954 4 Amt Requested: # Bldgs:Benzie $0 36 County: Amt Awarded: # Total Units: 36 # LIHTC Units:May Funding Round General 193.5 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 7: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

2

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09017 Jeff Gates 248.921.8112 Project #: Owner Contact:Main Street Apartments TJ Main Street LDHA LP Project Name: 9038 North Main Street 605 South Capitol Avenue Project Address: Lansing, MI 48933

Berrien Springs, MI 49103 $130,349 2 Amt Requested: # Bldgs:Berrien $0 24 County: Amt Awarded: # Total Units: 24 # LIHTC Units:May Funding Round General 175 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09013 Joni Talentino 906.495.5555 Project #: Owner Contact:Sault Tribe of Chippewa Indians HA TC Proj I Sault Ste Marie Tribe of Chippewa Indians HA TC LP Project Name: Various Addresses 154 Parkside Drive Project Address: Kincheloe, MI 49788

Sault Ste Marie, MI 49783 $471,514 30 Amt Requested: # Bldgs:Chippewa $0 30 County: Amt Awarded: # Total Units: 30 # LIHTC Units:May Funding Round General 251 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09038 Stephen Werth 989.358.8080 Project #: Owner Contact:Wood Creek Apartments JPS Wood Creek LDHA LP Project Name: 1708 Meridian Street 458 West Baldwin St Project Address: Alpena, MI 49707

Sault Ste Marie, MI 49783 $281,262 3 Amt Requested: # Bldgs:Chippewa $0 48 County: Amt Awarded: # Total Units: 47 # LIHTC Units:May Funding Round General 235 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 8: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

3

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09080 Frank T. Sinito 216.520.1250 Project #: Owner Contact:Brookwood Gardens Apartments Brookwood I LDHA LP Project Name: 202 Mary Street 1517 Canterbury Trail Project Address: Mt. Pleasant, MI 48858

Clare, MI 48617 $795,997 6 Amt Requested: # Bldgs:Clare $0 96 County: Amt Awarded: # Total Units: 96 # LIHTC Units:May Funding Round General 238 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09001 Lori Pung 989.779.9995 Project #: Owner Contact:Fourth Street Senior Housing Fourth Street Senior Housign LDHA LP Project Name: 144 W. Fourth Street 805 W. Broadway Suite 1 Project Address: Mt. Pleasant, MI 48858

Clare, MI 48617 $344,684 1 Amt Requested: # Bldgs:Clare $0 24 County: Amt Awarded: # Total Units: 24 # LIHTC Units:May Funding Round General 327 Funding Round: Category Applied For: Self Score: 4/9/2009 Elderly Application Date: Target Units:

Z09037 Ronald Potterpin 517.347.9662 Project #: Owner Contact:Pine Bluff Apartments PK Pine Bluff LP Project Name: 679 & 654 S. Westwood Avenue 1784 Hamilton Rd Project Address: Okemos, MI 48864

Kingsford, MI 49802 $327,541 4 Amt Requested: # Bldgs:Dickinson $0 56 County: Amt Awarded: # Total Units: 56 # LIHTC Units:May Funding Round General 190 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 9: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

4

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09014 Jeff Gates 248.921.8112 Project #: Owner Contact:Grand Fork Commons TJ Grand Fork LDHA LP Project Name: 2755 W. Knox Road 605 South Capitol Avenue Project Address: Lansing, MI 48933

Beaverton, MI 48612 $124,625 1 Amt Requested: # Bldgs:Gladwin $0 24 County: Amt Awarded: # Total Units: 24 # LIHTC Units:May Funding Round General 195 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Z09030 Michael H. Jacobson 248.252.8700 Project #: Owner Contact:Grand Traverse Commons TC Commons I LDHA LLC Project Name: 630 Cottageview Drive 35 Research Drive, Suite 300 Project Address: Ann Arbor, MI 48103

Traverse City, MI 49684 $1,474,569 1 Amt Requested: # Bldgs:Grand Traverse $0 38 County: Amt Awarded: # Total Units: 38 # LIHTC Units:May Funding Round General 271 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09034 Ronald Potterpin 517.347.9662 Project #: Owner Contact:Copper Hill Apartments PK Copper Hills Apartments LP Project Name: 5230 N. State Highway and 901 Portage St 1784 Hamilton Rd Project Address: Okemos, MI 48864

Lake Linden/Houghton, MI 0 $321,491 4 Amt Requested: # Bldgs:Houghton $0 56 County: Amt Awarded: # Total Units: 55 # LIHTC Units:May Funding Round General 184 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 10: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

5

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09067 Willie M. Martin 248.646.0202 Project #: Owner Contact:Tamarack Apartments Tamarack 2009 LDHA LP Project Name: 4400 W. Holt Road 30215 Southfield Road, Suite 200 Project Address: Southfield, MI 48076

Holt, MI 48842 $747,802 1 Amt Requested: # Bldgs:Ingham $0 100 County: Amt Awarded: # Total Units: 100 # LIHTC Units:May Funding Round General 216 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Z09032 Ronald Potterpin 517.347.9662 Project #: Owner Contact:Lakewood Apartments PK Lakewood Apartments LP Project Name: 831 S. Clinton Dr 1784 Hamilton Rd Project Address: Okemos, MI 48864

Stockbridge, MI 49285 $271,062 2 Amt Requested: # Bldgs:Ingham $0 32 County: Amt Awarded: # Total Units: 32 # LIHTC Units:May Funding Round General 205 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09079 Frank T. Sinito 216.520.1250 Project #: Owner Contact:Aldersgate Apartments Aldersgate II LDHA LP Project Name: 1100 Killmaster Drive 1517 Canterbury Trail Project Address: Mt. Pleasant, MI 48858

Oscoda Twp, MI 48750 $688,879 13 Amt Requested: # Bldgs:Iosco $0 99 County: Amt Awarded: # Total Units: 99 # LIHTC Units:May Funding Round General 210 Funding Round: Category Applied For: Self Score: 5/1/2009 Family and Elderly Application Date: Target Units:

Page 11: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

6

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09057 Chris Schaap 269.436.1270 Project #: Owner Contact:Alpine Village Apartments Alpine Village Apartments LDHA LLC Project Name: 4307 Duke Street 46641 Lakeview Drive Project Address: Decatur, MI 49045

Kalamazoo, MI 49008 $728,638 4 Amt Requested: # Bldgs:Kalamazoo $0 140 County: Amt Awarded: # Total Units: 140 # LIHTC Units:May Funding Round General 174 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09068 Freddie L. DuBose 313.965.4547 Project #: Owner Contact:Comstock Village CV Limited Partnership Project Name: 5437 H Avenue 28 W. Adams, Ste 500 Project Address: Detroit, MI 48226

Kalamazoo, MI 49048 $785,346 16 Amt Requested: # Bldgs:Kalamazoo $0 112 County: Amt Awarded: # Total Units: 112 # LIHTC Units:May Funding Round General 258 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09066 Willie M. Martin 248.646.0202 Project #: Owner Contact:Northwind-Hilltop Apartments Northwind/Hilltop 2006 LDHA LP Project Name: 1004 Douglas Ave and 3000 S. Burdick 30215 Southfield Road, Suite 200 Project Address: Southfield, MI 48076

Kalamazoo, MI 49007 $1,143,772 8 Amt Requested: # Bldgs:Kalamazoo $0 161 County: Amt Awarded: # Total Units: 160 # LIHTC Units:May Funding Round General 224.5 Funding Round: Category Applied For: Self Score: 5/1/2009 Family and Elderly Application Date: Target Units:

Page 12: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

7

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09016 Jeff Gates 248.921.8112 Project #: Owner Contact:Sandy Pines Apartments TJ Sandy Pines LDHA LP Project Name: 748 S. Cedar Street 605 South Capitol Avenue Project Address: Lansing, MI 48933

Kalkaska, MI 49646 $234,454 4 Amt Requested: # Bldgs:Kalkaska $0 50 County: Amt Awarded: # Total Units: 50 # LIHTC Units:May Funding Round General 176 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09002 Karl Chew 989.837.6272 Project #: Owner Contact:101 South Division Lofts 101 South Division Lofts LDHA LP Project Name: 101 S. Division Avenue 2802 Jefferson Avenue Project Address: Midland, MI 48640

Grand Rapids, MI 49503 $49,837 1 Amt Requested: # Bldgs:Kent $0 20 County: Amt Awarded: # Total Units: 20 # LIHTC Units:May Funding Round General 0 Funding Round: Category Applied For: Self Score: 4/8/2009 Family Application Date: Target Units:

Z09003 Dennis Sturtevant 616.855.0410 Project #: Owner Contact:Bridge Street Place Bridge Street LDHA LP Project Name: 761 Bridge NW 101 Sheldon Blvd, Suite 2 Project Address: Grand Rapids, MI 49503

Grand Rapids, MI 49503 $69,841 1 Amt Requested: # Bldgs:Kent $0 16 County: Amt Awarded: # Total Units: 16 # LIHTC Units:May Funding Round Special Needs 0 Funding Round: Category Applied For: Self Score: 4/27/2009 Family Application Date: Target Units:

Page 13: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

8

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09031 Michael H. Jacobson 248.252.8700 Project #: Owner Contact:Century Lofts Century Lofts I LDHA LLC Project Name: 40 Logan Street SW 35 Research Drive, Suite 300 Project Address: Ann Arbor, MI 48103

Grand Rapids, MI 49503 $1,462,500 1 Amt Requested: # Bldgs:Kent $0 48 County: Amt Awarded: # Total Units: 48 # LIHTC Units:May Funding Round General 271 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09020 Dennis Sturtevant 616.454.0928 Project #: Owner Contact:Goodrich Apartments Goodrich LDHA LP Project Name: 333 and 339 South Division Ave 101 Sheldon Blvd, Suite 2 Project Address: Grand Rapids, MI 49503

Grand Rapids, MI 49503 $182,475 2 Amt Requested: # Bldgs:Kent $0 14 County: Amt Awarded: # Total Units: 14 # LIHTC Units:May Funding Round General 209.5 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09043 Gerald A. Krueger 313.881.8150 Project #: Owner Contact:Whitney Young Village Whitney Young 2009 LDHA LLC Project Name: 4848 Breton Road, SE 20250 Harper Avenue Project Address: Detroit, MI 48225

Kentwood, MI 49508 $472,861 7 Amt Requested: # Bldgs:Kent $0 72 County: Amt Awarded: # Total Units: 72 # LIHTC Units:May Funding Round General 211 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 14: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

9

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09063 Joseph E. Schwartz 248.203.1800 Project #: Owner Contact:American House Lakeside I Lakesdie I LDHA LLC Project Name: 15731 19 Mile Road 6755 Telegraph Rd Suite 330 Project Address: Bloomfield Hills, MI 48301

Clinton Twp, MI 48038 $248,007 1 Amt Requested: # Bldgs:Macomb $0 81 County: Amt Awarded: # Total Units: 33 # LIHTC Units:May Funding Round General 267 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Z09064 Joseph E. Schwartz 248.203.1800 Project #: Owner Contact:American House Lakeside II Lakeside II LDHA LLC Project Name: 15821 19 Mile Road 6755 Telegraph Rd Suite 330 Project Address: Bloomfield Hills, MI 48301

Clinton Twp, MI 48038 $244,625 1 Amt Requested: # Bldgs:Macomb $0 82 County: Amt Awarded: # Total Units: 33 # LIHTC Units:May Funding Round General 273 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Z09044 Gerald A. Krueger 313.881.8150 Project #: Owner Contact:Newport Apartments Newport 2008 LDHA LLC Project Name: 24213 Lotus 20250 Harper Avenue Project Address: Detroit, MI 48225

Mt. Clemens, MI 48036 $924,359 7 Amt Requested: # Bldgs:Macomb $0 168 County: Amt Awarded: # Total Units: 168 # LIHTC Units:May Funding Round General 245 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 15: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

10

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09015 Jeff Gates 248.921.8112 Project #: Owner Contact:Woodcliff Apartments TJ Woodcliff LDHA LP Project Name: 710 Empire Street 605 S. Capitol Avenue Project Address: Lansing, MI 48933

Ishpeming, MI 49849 $129,871 2 Amt Requested: # Bldgs:Marquette $0 24 County: Amt Awarded: # Total Units: 24 # LIHTC Units:May Funding Round General 198 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09061 David Cooper, Jr 614.396.3200 Project #: Owner Contact:McCalla Greene McCalla Greene LLC Project Name: 409 Canfield Street 229 Huber Village Boulevard, Suite 100 Project Address: Westerville, OH 43081

Milan, MI 48160 $373,472 2 Amt Requested: # Bldgs:Monroe $0 32 County: Amt Awarded: # Total Units: 32 # LIHTC Units:May Funding Round General 341 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09041 Gerald A. Krueger 313.881.8150 Project #: Owner Contact:Quail Meadow Apartments QM 2009 LDHA LLC Project Name: 725 Meadow Lane 20250 Harper Avenue Project Address: Detroit, MI 48225

Muskegon Twp, MI 48036 $650,155 19 Amt Requested: # Bldgs:Muskegon $0 120 County: Amt Awarded: # Total Units: 120 # LIHTC Units:May Funding Round General 204 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 16: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

11

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09062 Joseph E. Schwartz 248.203.1800 Project #: Owner Contact:American House Hazel Park HP LDHA LLC Project Name: 777 W. Woodward Hts Blvd 6755 Telegraph Rd Suite 330 Project Address: Bloomfield Hills, MI 48301

Hazel Park, MI 48030 $325,999 4 Amt Requested: # Bldgs:Oakland $0 125 County: Amt Awarded: # Total Units: 50 # LIHTC Units:May Funding Round General 299 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Z09065 Joseph E. Schwartz 248.203.1800 Project #: Owner Contact:American House Oakland Oakland LDHA LLC Project Name: 1915 Baldwin Road 6755 Telegraph Rd Suite 330 Project Address: Bloomfield Hills, MI 48301

Pontiac, MI 48340 $412,498 1 Amt Requested: # Bldgs:Oakland $0 161 County: Amt Awarded: # Total Units: 65 # LIHTC Units:May Funding Round General 299 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Z09008 Kathy Makino 734.722.6646 Project #: Owner Contact:Perry Place Square Perry Place Square LDHA LP Project Name: 1415 Perry 35122 W. Michigan Project Address: Wayne, MI 48184

Pontiac, MI 48340 $700,768 9 Amt Requested: # Bldgs:Oakland $0 72 County: Amt Awarded: # Total Units: 71 # LIHTC Units:May Funding Round General 193 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 17: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

12

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09058 Kyle Westberg 248.758.9925 x 111 Project #: Owner Contact:Pike Street Square Pike Street Square One Project Name: Lot 9, Woodward Ave 79 Oakland Ave Project Address: Pontiac, MI 48342

Pontiac, MI 48342 $1,385,995 1 Amt Requested: # Bldgs:Oakland $0 48 County: Amt Awarded: # Total Units: 48 # LIHTC Units:May Funding Round General 206 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09024 Douglas F. Larner 989.426.2969 Project #: Owner Contact:Springview Manor II Springivew II LP Project Name: 711 W. Jefferson 4428 Hamilton Way Project Address: Gladwin, MI 48624

Evart, MI 49631 $33,476 2 Amt Requested: # Bldgs:Osceola $0 24 County: Amt Awarded: # Total Units: 24 # LIHTC Units:May Funding Round General 0 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09022 Anne Danosky 989.772.3261 x 413 Project #: Owner Contact:Alpine Alten Zimmer II Alpine Alten Zimmer II 2009 LDHA LP Project Name: 120-200 Grandview Blvd 102 South Main Street Project Address: Mt. Pleasant, MI 48858

Gaylord, MI 0 $183,913 2 Amt Requested: # Bldgs:Otsego $0 48 County: Amt Awarded: # Total Units: 43 # LIHTC Units:May Funding Round General 199.5 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Page 18: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

13

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09025 Douglas F. Larner 989.426.2969 Project #: Owner Contact:Sheldon Place II Gaylord II LDHA LP Project Name: 915 Sheldon Street 4428 Hamilton Way Project Address: Gladwin, MI 48624

Gaylord, MI 49735 $61,529 1 Amt Requested: # Bldgs:Otsego $0 32 County: Amt Awarded: # Total Units: 31 # LIHTC Units:May Funding Round General 0 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Z09021 Dennis Sturtevant 616.855.0410 Project #: Owner Contact:Midtown Village Liberty LDHA LP Project Name: 372 S. River Ave 101 Sheldon Blvd, Suite 2 Project Address: Grand Rapids, MI 49503

Holland, MI 49423 $645,893 1 Amt Requested: # Bldgs:Ottawa $0 30 County: Amt Awarded: # Total Units: 30 # LIHTC Units:May Funding Round General 157 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Z09005 Lori Pung 989.779.9995 Project #: Owner Contact:Cutler View Cutler View LDHA LP Project Name: Liberty Street between Cutler St and North Park St 805 W. Broadway Suite 1 Project Address: Mt. Pleasant, MI 48858

Spring Lake, MI 49456 $313,980 1 Amt Requested: # Bldgs:Ottawa $0 24 County: Amt Awarded: # Total Units: 24 # LIHTC Units:May Funding Round General 223 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Page 19: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

14

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09018 Brian McGeady 513.774.8400 Project #: Owner Contact:South Saginaw Homes II South Saginaw Homes LDHA LLC II Project Name: 3700 Sheridan Road c/o MV Residential Development LLC 9349 WaterStone Boulevard Project Address: Cincinnati, OH 45249

Saginaw, MI 48601 $1,100,695 42 Amt Requested: # Bldgs:Saginaw $0 42 County: Amt Awarded: # Total Units: 42 # LIHTC Units:May Funding Round General 235 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09045 Gerald A. Kruger 313.881.8150 Project #: Owner Contact:Ginger Square Apartments Ginger Square 2009 LDHA LLC Project Name: 1200 Pennbrook Drive 20250 Harper Avenue Project Address: Detroit, MI 48225

Owosso, MI 48867 $700,014 19 Amt Requested: # Bldgs:Shiawassee $0 108 County: Amt Awarded: # Total Units: 108 # LIHTC Units:May Funding Round General 213 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09033 Ronald Potterpin 517.347.9662 Project #: Owner Contact:Rolling Brook Apartments PK Rolling Brook LP Project Name: 1110 Summer 1784 Hamilton Rd Project Address: Okemos, MI 48864

Algonac, MI 48001 $476,337 3 Amt Requested: # Bldgs:St. Clair $0 74 County: Amt Awarded: # Total Units: 74 # LIHTC Units:May Funding Round General 190 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Page 20: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

15

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09035 Ronald Potterpin 517.347.9662 Project #: Owner Contact:Clairewood Apartments PK Clairewood Apartments LP Project Name: 811 S. Carney 1784 Hamilton Rd Project Address: Okemos, MI 48864

St. Clair, MI 48079 $284,100 3 Amt Requested: # Bldgs:St. Clair $0 48 County: Amt Awarded: # Total Units: 48 # LIHTC Units:May Funding Round General 208 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09036 Ronald Potterpin 517.347.9662 Project #: Owner Contact:Maple Heights Apartments PK Maple Heights LP Project Name: 260 N. Maple Rd 1784 Hamilton Rd Project Address: Okemos, MI 48864

Saline, MI 48176 $270,801 3 Amt Requested: # Bldgs:Washtenaw $0 48 County: Amt Awarded: # Total Units: 48 # LIHTC Units:May Funding Round General 207 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09078 Ghaleb Hatem 313.295.0288 Project #: Owner Contact:Park Plaza Commons Park Plaza Commons LDHA LP Project Name: 26300 Van Born Road 26320 Van Born Road Project Address: Dearborn Heights, MI 48125

Dearborn Heights, MI 48125 $1,498,415 1 Amt Requested: # Bldgs:Wayne $0 100 County: Amt Awarded: # Total Units: 100 # LIHTC Units:May Funding Round General 194 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Page 21: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

16

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09027 Timothy S. Thorland 313.841.3727 x 323 Project #: Owner Contact:8900 Gratiot 8900 Gratiot LHDA LP Project Name: 8900 Gratiot Avenue 1920 25th Street, Suite A Project Address: Detroit, MI 48216

Detroit, MI 48213 $833,751 1 Amt Requested: # Bldgs:Wayne $0 33 County: Amt Awarded: # Total Units: 33 # LIHTC Units:May Funding Round General 192 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09056 Sam Arabbo 248.569.2420 Project #: Owner Contact:Brush Estates Brush Estates LDHA LP Project Name: 17424-17941 Brush 17445 W. 10 Mile Road Project Address: Southfield, MI 48075

Detroit, MI 48203 $899,143 10 Amt Requested: # Bldgs:Wayne $0 45 County: Amt Awarded: # Total Units: 45 # LIHTC Units:May Funding Round General 248 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09073 Faith Fowler 313.883.2277 Project #: Owner Contact:Cass Apartments Cass Community LDHA LP Project Name: 1584 Elmhurst 11850 Woodrow Wilson Project Address: Detroit, MI 48206

Detroit, MI 48206 $894,225 1 Amt Requested: # Bldgs:Wayne $0 42 County: Amt Awarded: # Total Units: 42 # LIHTC Units:May Funding Round Special Needs 202 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 22: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

17

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09074 John W. Frasco 248.203.0011 Project #: Owner Contact:Cornerstone Estates Phase I Cornerstone Estates I LDHA LLC Project Name: 2921 Fourth Street 32500 Telegraph Road, #222 Project Address: Bingham Farms, MI 48025

Detroit, MI 48201 $942,053 10 Amt Requested: # Bldgs:Wayne $0 58 County: Amt Awarded: # Total Units: 58 # LIHTC Units:May Funding Round General 232 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09075 John W. Frasco 248.203.0011 Project #: Owner Contact:Cornerstone Estates Phase II Cornerstone Estates II LDHA LLC Project Name: 2921 Fourth Street 32500 Telegraph Road #222 Project Address: Bingham Farms, MI 48025

Detroit, MI 48201 $988,971 10 Amt Requested: # Bldgs:Wayne $0 60 County: Amt Awarded: # Total Units: 60 # LIHTC Units:May Funding Round General 237 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09076 John W. Frasco 248.203.0011 Project #: Owner Contact:Cornerstone Estates Phase III Cornerstone Estates III LDHA LLC Project Name: 2921 Fourth Street 32500 Telegraph Road #222 Project Address: Bingham Farms, MI 48025

Detroit, MI 48201 $979,750 10 Amt Requested: # Bldgs:Wayne $0 62 County: Amt Awarded: # Total Units: 62 # LIHTC Units:May Funding Round General 234.5 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 23: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

18

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09007 Kathy Makino 734.722.6646 Project #: Owner Contact:Coronado Square Coronado Square LDHA LP Project Name: 275 Merton 35122 W. Michigan Ave Project Address: Wayne, MI 48184

Detroit, MI 48203 $638,752 1 Amt Requested: # Bldgs:Wayne $0 45 County: Amt Awarded: # Total Units: 44 # LIHTC Units:May Funding Round General 234 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09046 Bob Zinser 313.831.0199 Project #: Owner Contact:Coronado Apartments Coronado Apartments II LDHA LP Project Name: 3571 Second Ave 3535 Cass Ave Project Address: Detroit, MI 48201

Detroit, MI 48201 $482,587 1 Amt Requested: # Bldgs:Wayne $0 24 County: Amt Awarded: # Total Units: 24 # LIHTC Units:May Funding Round General 265 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09019 Brian McGeady 513.774.8400 Project #: Owner Contact:Daystar Estates II Daystar Estates II LDHA LP Project Name: Scattered Sites bounded by Warren, c/o MV Residential Development LLC 9349 WaterStone Boulevard Project Address: Canfield, Conner & Lenox Cincinnati, OH 45249

Detroit, MI 48215 $945,548 31 Amt Requested: # Bldgs:Wayne $0 31 County: Amt Awarded: # Total Units: 31 # LIHTC Units:May Funding Round General 234 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 24: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

19

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09053 Richard Snead Sr 313.273.3108 Project #: Owner Contact:Ecclesia Homes Ecclesia Homes LDHA LP Project Name: Multiple Scattered Sites 9611 Iris Project Address: Detroit, MI 48227

Detroit, MI 48208 $940,502 45 Amt Requested: # Bldgs:Wayne $0 45 County: Amt Awarded: # Total Units: 45 # LIHTC Units:May Funding Round General 221 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09009 Kathy Makino 734.2722.6646 Project #: Owner Contact:Eldorado Square Eldorado Square LDHA LP Project Name: 17673 Manderson and 17400 Third 35122 W. Michigan Ave Project Address: Wayne, MI 48184

Detroit, MI 48203 $810,412 2 Amt Requested: # Bldgs:Wayne $0 62 County: Amt Awarded: # Total Units: 61 # LIHTC Units:May Funding Round General 193.5 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09047 John O'Brien 313.535.9164 Project #: Owner Contact:Eliza Howell East Eliza Howell East LDHA LP Project Name: Multiple Scattered Sites 16631 Lahser Project Address: Detroit, MI 48219

Detroit, MI 48223 $940,502 45 Amt Requested: # Bldgs:Wayne $0 45 County: Amt Awarded: # Total Units: 45 # LIHTC Units:May Funding Round General 222 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 25: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

20

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09039 Nick Kolb 810.220.2652 Project #: Owner Contact:Emerald Springs I A Emerald Springs I A LDHA LP Project Name: Talbot Street 2200 Genoa Business Park Drive, Suite 100 Project Address: Brighton, MI 48114

Detroit, MI 48212 $1,500,000 28 Amt Requested: # Bldgs:Wayne $0 79 County: Amt Awarded: # Total Units: 79 # LIHTC Units:May Funding Round General 304 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09040 Nick Kolb 810.220.2652 Project #: Owner Contact:Emerald Springs I B Emerald Springs IB LDHA LP Project Name: Buffalo Street 2200 Genoa Business Park Drive, Suite 100 Project Address: Brighton, MI 48114

Detroit, MI 48212 $1,451,222 44 Amt Requested: # Bldgs:Wayne $0 79 County: Amt Awarded: # Total Units: 79 # LIHTC Units:May Funding Round General 304 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09052 Walter E. Rushton Sr 313.671.3576 Project #: Owner Contact:Ephesus Homes II Ephesus Homes II LDHA LP Project Name: Multiple Scattered Sites 9941 Hayes Project Address: Detroit, MI 48234

Detroit, MI 48234 $940,502 45 Amt Requested: # Bldgs:Wayne $0 45 County: Amt Awarded: # Total Units: 45 # LIHTC Units:May Funding Round General 222 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 26: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

21

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09029 Richard Higgins 518.587.0270 Project #: Owner Contact:Gardenview Estates Phase II C Gardenview Homes IV LDHA LLC Project Name: Grandmont Road 200 South Division Street Project Address: Buffalo, NY 14204

Detroit, MI 48228 $933,761 15 Amt Requested: # Bldgs:Wayne $0 48 County: Amt Awarded: # Total Units: 38 # LIHTC Units:May Funding Round General 243 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09023 Timothy S. Thorland 313.841.3727 x 323 Project #: Owner Contact:Hubbard Communities Hubbard Communities I LDHA LP Project Name: Scattered Sites on 25th, Vinewood, Hubbard, 1920 25th Street, Suite A Project Address: Palms, Scotten and Clark Detroit, MI 48216

Detroit, MI 0 $152,307 24 Amt Requested: # Bldgs:Wayne $0 44 County: Amt Awarded: # Total Units: 44 # LIHTC Units:May Funding Round Special Needs 0 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09072 Charlotte Knight 313.340.9000 Project #: Owner Contact:McNichols Place McNichols Place I LDHA LP Project Name: 7100 W. Seven Mile Rd 7100 Seven Mile Rd Project Address: Detroit, MI 48221

Detroit, MI 48221 $367,771 1 Amt Requested: # Bldgs:Wayne $0 24 County: Amt Awarded: # Total Units: 24 # LIHTC Units:May Funding Round General 175 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 27: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

22

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09071 Laurence S. Tisdale 248.304.2000 Project #: Owner Contact:Medical Center Village Medical Center Village LDHA LP Project Name: 4607-4699 Chrysler Drive and 28777 Northwestern Hwy, Suite 220 Project Address: 4440-4704 St. Antoine Street Southfield, MI 48034

Detroit, MI 48201 $1,117,577 26 Amt Requested: # Bldgs:Wayne $0 194 County: Amt Awarded: # Total Units: 194 # LIHTC Units:May Funding Round General 285 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09011 Kathy Makino 734.595.6646 Project #: Owner Contact:New Center Square New Center Square LDHA LP Project Name: 112 Seward and 628 Delaware 35122 W. Michigan Ave Project Address: Wayne, MI 48184

Detroit, MI 48202 $807,634 2 Amt Requested: # Bldgs:Wayne $0 49 County: Amt Awarded: # Total Units: 48 # LIHTC Units:May Funding Round General 295 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09054 Joe Heaphy 313.967.5312 Project #: Owner Contact:NSO Bell Housing NSO Bell Housing LDHA LP Project Name: 882 Oakman Boulevard 220 Bagley, Suite 1200 Project Address: (aka 14300 Woodrow Wilson) Detroit, MI 48226

Detroit, MI 48238 $1,500,000 1 Amt Requested: # Bldgs:Wayne $0 155 County: Amt Awarded: # Total Units: 155 # LIHTC Units:May Funding Round Special Needs 186 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 28: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

23

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09028 Michael Tremonti 248.355.6812 Project #: Owner Contact:Parkview Tower and Square Parkview Tower and Square LDHA LP Project Name: 1601 Robert Bradby Drive and 29201 Telegraph Road, Suite 510 Project Address: 2901 East Lafayette Avenue Southfield, MI 48034

Detroit, MI 48207 $1,500,000 19 Amt Requested: # Bldgs:Wayne $0 350 County: Amt Awarded: # Total Units: 348 # LIHTC Units:May Funding Round General 244 Funding Round: Category Applied For: Self Score: 5/1/2009 Family and Elderly Application Date: Target Units:

Z09049 David L. Jefferson 313.368.2304 Project #: Owner Contact:Peace Estates Peace Estates LDHA LP Project Name: Multiple Scattered Sites 13450 Goddard Avenue Project Address: Detroit, MI 48212

Detroit, MI 48212 $940,502 45 Amt Requested: # Bldgs:Wayne $0 45 County: Amt Awarded: # Total Units: 45 # LIHTC Units:May Funding Round General 222 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09048 John O'Brien 313.535.9164 Project #: Owner Contact:Riordan Park Riordan Park LDHA LP Project Name: Multiple Scattered Sites 16631 Lahser Project Address: Detroit, MI 48219

Detroit, MI 48223 $940,502 45 Amt Requested: # Bldgs:Wayne $0 45 County: Amt Awarded: # Total Units: 45 # LIHTC Units:May Funding Round General 221 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 29: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

24

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09010 Kathy Makino 734.722.6646 Project #: Owner Contact:Sarasota Square Sarasota Square LDHA LP Project Name: 325 Merton 35122 W. Michigan Ave Project Address: Wayne, MI 48184

Detroit, MI 48203 $587,779 1 Amt Requested: # Bldgs:Wayne $0 38 County: Amt Awarded: # Total Units: 37 # LIHTC Units:May Funding Round General 210 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09026 Timothy S. Thorland 313.841.3727 x 323 Project #: Owner Contact:Scotten Park Scotten Park LDHA LP Project Name: Scattered Sites on 16th Street, Toledo, 1920 25th Street, Suite A Project Address: Vinewood and Bagley Detroit, MI 48216

Detroit, MI 0 $887,804 9 Amt Requested: # Bldgs:Wayne $0 40 County: Amt Awarded: # Total Units: 40 # LIHTC Units:May Funding Round General 197 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09060 James Perkins 313.871.6884 Project #: Owner Contact:Smith Street Homes Smith Street Homes LDHA LP Project Name: Multiple Addresses 586 Owen Street Project Address: Detroit, MI 48202

Detroit, MI 48202 $1,180,652 11 Amt Requested: # Bldgs:Wayne $0 55 County: Amt Awarded: # Total Units: 55 # LIHTC Units:May Funding Round General 222 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Page 30: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

25

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09055 Sam Arabbo 248.569.2420 Project #: Owner Contact:St. Joseph Senior Village of Detroit St. Joseph Resources Corp Project Name: 17424-17850 Omira and 17445 W. 10 Mile Rd Project Address: 17401-17851 Wanda Southfield, MI 48075

Detroit, MI 48203 $986,520 9 Amt Requested: # Bldgs:Wayne $0 48 County: Amt Awarded: # Total Units: 48 # LIHTC Units:May Funding Round General 237 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Z09051 Felicia Turner 313.247.2829 Project #: Owner Contact:Village Estates Amandla Estates LDHA LP Project Name: Multiple Parcel Assemblage 7707 W. Outer Drive Project Address: Detroit, MI 48235

Detroit, MI 48235 $987,786 6 Amt Requested: # Bldgs:Wayne $0 48 County: Amt Awarded: # Total Units: 48 # LIHTC Units:May Funding Round General 216 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09050 Felicia Turner 313.247.2829 Project #: Owner Contact:Village Estates Elderly Amandla Elderly Estates LDHA LP Project Name: Multiple Parcel Assemblage 7707 W. Outer Drive Project Address: Detroit, MI 48235

Detroit, MI 48235 $968,630 6 Amt Requested: # Bldgs:Wayne $0 48 County: Amt Awarded: # Total Units: 48 # LIHTC Units:May Funding Round General 211 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Page 31: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

26

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09077 Melvin Washington 313.831.2855 Project #: Owner Contact:Whittier Tower Whittier Tower LDHA LP Project Name: 315 Burns Drive 4150 Grand River Project Address: Detroit, MI 48208

Detroit, MI 48214 $1,500,000 1 Amt Requested: # Bldgs:Wayne $0 120 County: Amt Awarded: # Total Units: 96 # LIHTC Units:May Funding Round General 201 Funding Round: Category Applied For: Self Score: 5/1/2009 Elderly Application Date: Target Units:

Z09070 T. Van Fox 248.352.0380 Project #: Owner Contact:Bella Vista Glen Bella Vista II/MHT LDHA LLC Project Name: 369 Glendale Avenue 20505 West 12 Mile Road Project Address: Southfield, MI 48076

Highland Park, MI 48203 $853,215 1 Amt Requested: # Bldgs:Wayne $0 138 County: Amt Awarded: # Total Units: 138 # LIHTC Units:May Funding Round General 221 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09069 T. Van Fox 248.352.0380 Project #: Owner Contact:Gabrielle Apartments & Townhomes Gabrielle II/MHT LDHA LLC Project Name: 14201 Second Avenue 20505 West 12 Mile Road Project Address: Southfield, MI 48076

Highland Park, MI 48203 $1,500,000 19 Amt Requested: # Bldgs:Wayne $0 336 County: Amt Awarded: # Total Units: 336 # LIHTC Units:May Funding Round General 242 Funding Round: Category Applied For: Self Score: 5/1/2009 Family and Elderly Application Date: Target Units:

Page 32: M E M O R A N D U M - Novogradac & Company LLP...Michael Jacobson Century Lofts I LDHA LLC 271 No 1,462,500$ Grand Traverse Commons Traverse City Grand Traverse Michael Jacobson TC

May 8, 2009 LOW INCOME HOUSING TAX CREDIT PROJECT STATUS REPORT Page

27

MAY 1, 2009 FUNDING ROUND APPLICANTS

Z09059 Louis Piszker 734.246.2280 x 27 Project #: Owner Contact:Lincoln Park Lofts Lincoln Park Lofts LDHA LP Project Name: 1583 and 1555 East Fort Street 2121 Biddle Suite 102 Project Address: Wyandotte, MI 48192

Lincoln Park, MI 48146 $870,651 2 Amt Requested: # Bldgs:Wayne $0 38 County: Amt Awarded: # Total Units: 38 # LIHTC Units:May Funding Round Special Needs 198 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

Z09042 Gerald A. Krueger 313.881.8150 Project #: Owner Contact:Woodside Square Apartments Woodside Square 2009 LDHA LLC Project Name: 35473 N. Alexander 20250 Harper Avenue Project Address: Detroit, MI 48225

Romulus, MI 48174 $506,557 12 Amt Requested: # Bldgs:Wayne $0 85 County: Amt Awarded: # Total Units: 85 # LIHTC Units:May Funding Round General 212 Funding Round: Category Applied For: Self Score: 5/1/2009 Family Application Date: Target Units:

80 PROJECTS REQUESTING A TOTAL OF: $56,208,411