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200001390 <br />SUMMARY PAGE <br />Date: <br />THE OWNER - <br />Legal Name of Owner: GI Cherry Park, Ltd., Two <br />Type of Legal Organization: limited partnership <br />(e.g., corporation, partnership) <br />State of Organization: Nebraska <br />Business Address of Owner: 1101 Cornhusker Highway, Suite 303, Lincoln, NE 68521 <br />Contact Person: Ward F. Hoppe <br />THE PROJECT - <br />Name of Project: Cherry Park Apartments Phase II <br />Project Address and 415 South Cherry, Grand Island, NE 68801 <br />Legal Description: (See Attached Exhibit A) <br />Total Number of Buildings: 9 <br />Building Identification Number(s): 98- 01145 -98 -01153 <br />Total Number of Units: 60 <br />Total Number of LIHTC Units: 60 <br />One unit is occupied by a resident manager. Yes X No <br />Cost of acquisition, construction and rehabilitation: $4,333,184 <br />Qualified Basis: $3,870,316 <br />TAX CREDIT INFORMATION - <br />Allocation of Housing Tax Credit Dollars: $324,544 <br />Occupancy Date: <br />Income Election Set -aside <br />Applicable Set -Aside Percentage(s) 40% 60% <br />Applicable Income Percentage(s): 60% 60% <br />Targeted Rent Levels <br />100% of the LIHTC units (60 units) have rents affordable at or below 49.94 % of the applicable area median income. <br />Required Number of Years From Occupancy Date: 45 years <br />Other conditions of targeting: Amenity and energy requirements per tax credit application. <br />Nonprofit Set - Aside: No <br />The Lender or Lenders: Five Points Bank; Community Redevelopment Authority of the City of Grand Island; Grand <br />Island Area Housing Corporation <br />