PROJECT PORTFOLIO. Catholic Charities Brooklyn and Queens Progress of Peoples Development Corporation - 1 -



Similar documents
HOUSING renovation + rehabilitation

SUPPORTIVE HOUSING OPTIONS NYC

HPD Supportive Housing Loan Program:

Development and Management Experience

DHS NEW TIER II SHELTER CONSTRUCTION and OPERATION PROGRAM TERM SHEET

Understanding the NYC 421-a Property Tax Exemption Program How Can it Be Reformed to Create Affordable Housing?

NHT Use of NSP and Weatherization Funds to Preserve and Improve Multifamily Housing

Multi-family Affordable. Becky Christoffersen, Midwest Housing Development Fund, Inc.

Vancouver s Housing and Homelessness Strategy A home for everyone

7.0 GOALS, OBJECTIVES & POLICIES

Resources for the Homebound in the New York City Metropolitan Area

Mercy Housing Lakefront Roseland Place Senior Apartments Chicago, Illinois

Closed School Records Parochial Schools (with year of closing)

GOV. MALLOY ANNOUNCES FUNDS TO SUPPORT AFFORDABLE HOUSING THROUGHOUT THE STATE Funding Will Spur an Additional $116 Million in Private Investments

PRESERVATION OF AFFORDABLE HOUSING. Housing Affordability, Human Services, and Economic Resiliency Committee Seattle City Council, July 16, 2014

ATTACHMENT C FEDERAL, STATE AND LOCAL HOUSING PROGRAMS

How To Green A Neighborhood

GOVERNOR PATRICK TARGETS $45.5 MILLION IN RECOVERY FUNDS TO MOVE HOUSING DEVELOPMENTS FORWARD

Get Your Multifamily Deal Done With FHA

Attachment 3 DCHA Response to FY2016 Budget Oversight Pre-hearing Questions. DC Housing Authority Capital Needs and Maintenance Review

Community Engagement for Preservation Rental Housing: Preservation and Rehabilitation

Compass Affordable Housing, Inc N. Stone Ave. Tucson, AZ

APPENDIX 6: FUNDING SOURCES MATRIX

Huntington Beach AFFORDABLE HOUSING. The City of Huntington Beach and the Huntington Beach Redevelopment Agency

CITY OF TEMPE COMMUNITY DEVELOPMENT DEPARTMENT HOUSING SERVICES DIVISION

New York State Office of Mental Health Adult Housing

Senior Housing Plan Comprehensive Plan Update. Village of Lombard Department of Community Development. October 2011

City of Los Angeles, Consolidated Plan

Building Affordable Housing for 22 Years

Federal Housing Assistance Programs

A NETWORK OF YOUTH OPPORTUNITY CENTERS

City of New York Community Development Block Grant Disaster Recovery (CDBG DR) Proposed Amendments to Action Plan

CARMEL PLACE, NEW YORK, NY

RESIDENTIAL PROPERTY TAX INCENTIVE PROGRAMS in New York City

Juneau Affordable Housing Fund

Tools for Affordable Housing Preservation. A Case Study of Bellefield Dwellings Pittsburgh. PCRG Conference

AVONDALE (CINCINNATI) CHOICE NEIGHBORHOOD INITIATIVE THE COMMUNITY BUILDERS, INC

Funding Programs: HUD Performance Funding System (operating subsidy for PHA) Private foundation operating grants

Compass Affordable Housing, Inc N. Stone Ave. Tucson, AZ

Market Rate Rental Housing

Gaston County DSS Resource Guide

Stabilizing Rural Communities Through Housing Partnerships

J-51 Property Tax Exemptions and Abatements June 4, 2003

APPENDIX D: HOUSING PROGRAM DIRECTORY

AFFORDABLE HOUSNG RESOURCE GUIDE A DIRECTORY OF AFFORDABLE HOUSING RESOURCES FOR THE COLORADO SPRINGS AREA

WHEREAS, Santa Monica is a coastal city in a prime location, being bordered by the City of Los Angeles to the north, east and south; and

Program Guide. Michigan State Housing Development Authority

NEW YORK STATE HOMES AND COMMUNITY RENEWAL S MITCHELL-LAMA REHABILITATION AND PRESERVATION PROGRAM

Permanent Supportive Housing: An Operating Cost Analysis

Let me provide you a bit more detail of what we accomplished in 2009.

THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF LOS ANGELES, CALIFORNIA DATE: DECEMBER 16, 2004 C ROBERT R. OVROM, CHIEF EXECUTIVE OFFICER

PROPOSAL FOR A CHINATOWN/LOWER EAST SIDE SPECIAL ZONING DISTRICT

City of Palo Alto (ID # 4924) City Council Staff Report

SENIOR NETWORK SERVICES HOUSING PROGRAM 1777-A Capitola Road, Santa Cruz, CA (831)

RAD Overview NCHMA Chicago Meeting. September 7, 2012

A Review of Rental Housing with Tax Credits

IV. HOUSING RESOURCES AND OPPORTUNITIES

Sharswood/Blumberg Choice Neighborhoods HOUSING TASK FORCE WORK SESSION #3

NEWS RELEASE COMMUNIQUÉ

HOUSING PROGRAMS COVERED BY THIS APPLICATION:

Public Housing ASSISTANCE PROGRAMS

The American Association of Homes and Services for the Aging Written Testimony

Introduction. Capitalized terms used in this Manual are defined in Appendix A, Glossary at the end of this Manual.

DCA s Affordable Rental Housing Program

Building Child Care A California Statewide Collaborative

Transformation and Revitalization of Affordable Housing in Jersey City

National Park Service U.S. Department of the Interior

Community Investments Vol. 15, Issue 2 Ginnie Mae Project Loans Maintain Affordability

Juneau Affordable Housing Fund Application for Funding

Utility Assistance Resources

There are two principal ways of securing affordable housing:

NEW YORK STATE HOMES AND COMMUNITY RENEWAL S 80/20 HOUSING PROGRAM

Welcome! Presented by: Don Bernards, Partner Baker Tilly Brian Coate, Vice President Lancaster Pollard Ryan Miles, Vice President Lancaster Pollard

HUNTERDON COUNTY HOUSING OPTIONS FOR SENIOR CITIZENS

Oregon Housing and Community Services Administrative Overview August 2003

- 1 - Neighborhood Stabilization Program Information Summary Sheet

Westmoreland County Mental Health Housing Services Options

HARRIS COUNTY, TEXAS NEIGHBORHOOD STABILIZATION PROGRAM

HUD Section 202 Program Supportive Housing for the Elderly. Questions and Answers

Transcription:

Catholic Charities Peter J. Striano Residence PROJECT PORTFOLIO Catholic Charities Brooklyn and Queens Progress of Peoples Development Corporation - 1 -

POP at a Glance Since 1975, Catholic Charities Progress of Peoples (CCPOP) Development Corporation, the affordable housing developer of Catholic Charities Brooklyn and Queens, has served as a catalyst for growth in many neighborhoods. CCPOP transforms vacant land and buildings into affordable housing units and, as a result, transform the lives of individuals and families. In the past 37 years, CCPOP has completed more than 3,600 units of housing, including 2,186 units of housing for low-income older adults, 1,068 units of family housing and 433 units of supportive housing for formerly homeless individuals. Housing Populations Served Supportive Housing, 12% Family Housing, 29% Senior Housing, 59% Supportive Housing Family Housing Senior Housing 433 1,068 2,186-2 -

1979-1980 The Beginnings Catholic Charities Progress of Peoples (CCPOP) Development Corporation officially started their development portfolio in 1978 with the acquisition of the Bishop Boardman Apartments in the neighborhood of Windsor Terrace. New York City councilman Tom Cuit approached the late Bishop Joseph M. Sullivan to help him with this project, which transformed the Holy Family Nursing Home operated by the Little Sisters of the Poor into 200 apartments for older adults. In the following year, 1979, Catholic Charities acquired the former Pierrepont Hotel at 55 Pierrepont Street in Brooklyn Heights and the property at 21-41 23rd Street in Astoria and turned them into what is known today as the Pierrepont House for the Elderly and the Catherine Sheridan Senior Residence. These three properties, acquired from three different outlets, were turned into 628 units of affordable housing for the older adults living in different neighborhoods in Brooklyn and Queens. The projects commenced the development of CCPOP as one of the largest faithbased developers of affordable housing in the country. (Photos of the Perrepont House for the Elderly today) - 3 -

- 4 -

1979-1980 Highlights: Pierrepont House for Elderly As one of its first projects, CCPOP converted the Pierrepont Hotel in Brooklyn Heights from a residential hotel into studio and one-bedroom apartments for seniors in 1979. The 17-story tower, originally constructed in 1928, is within the Brooklyn Heights Landmark district. It is one of the few affordable housing buildings in Brooklyn Heights, and provides essential on-site supportive services to low income seniors as they age-in-place. The building includes a senior center with dining facilities, non-profit office space, and community space for tenants on the penthouse level with sweeping views of lower Manhattan. The building is well-maintained and underwent a major renovation in 2012 which included upgrading the building to achieve a higher level of energy efficiency and sustainability. The tenant spaces were renovated to provide better circulation and modernized common areas, with the goal of promoting healthy aging. Pierrepont Project Description Number of Units 188 Placed in Service 1979 Neighborhood Population Served Brooklyn Heights Senior/Older Adult Project Financing Total Development Cost $72,375.788-5 -

1979-1980 Highlights: Catherine Sheridan Senior Residence Catherine Sheridan House is a HUD subsidized, ADA accessible, independent living facility for incomeeligible seniors and/or mobility impaired persons. This housing project consisting of 240 apartments features both studio and one bedroom units of clean, safe, affordable housing. The needs of the tenants are met through a multi-disciplined staff consisting of a live-in Superintendent who oversees the mechanical operation, cleanliness and repair of the facility along with multiple maintenance and repair staff. The property staff facilitates rental requirements and tenant policy and social service staff assists tenants with securing entitlements and encouraging positive social interactions and opportunities, while maintaining a level of respect and dignity for all. Catherine Sheridan Senior Residence Project Description Number of Units 240 Placed in Service 1979 Neighborhood Population Served Astoria Senior/Older Adult Project Financing Total Development Cost $10,142,082-6 -

1979-1980 Highlights: Bishop Boardman Apartments Located in the Windsor Terrace section of Brooklyn, the Bishop Boardman Apartments was POP s third completed housing development project. The site of the Bishop Boardman was acquired from the Little Sisters of the Poor who operated the Holy Family Nursing Home at this location. Bishop Boardman Apartments welcomed its first tenants in 1980. With 200 apartments, the Boardman is one of POP s largest buildings. A social service coordinator assists tenants by connecting them to support services as needed. These services include personal care, meal delivery, visiting nurse services, congregate programs and individual counseling, as needed. In December 2005, this project, together with nine other POP senior buildings, were refinanced using a combination of NYC Housing Development Corporation (HDC) Bonds and Low Income Housing Tax Credits. The objectives of the refinancing were to lower the high interest rate mortgages, rehabilitate the building systems, envelope and common areas, capture developer fees to benefit POP and enhance social services for tenants. Bishop Boardman Apartments Project Description Number of Units 200 Placed in Service 1980 Neighborhood Population Served Windsor Terrace Senior/Older Adult Project Financing Total Development Cost $31,197,931-7 -

The 1980 s Pope John Paul II, Bay Ridge (1986) St. Brendan s, Midwood (1986) Mary Star of the Sea, Carroll Cardens (1985) - 8 -

1980 s Highlights: Bishop Mugavero Senior Apartments Bishop Francis Mugavero Apartments, in Fort Greene, was the previous site of the Brooklyn Eye and Ear Hospital. It was converted by CCPOP into senior housing in 1985. By virtue of its reuse of the hospital, the site includes ample public spaces for which ongoing renovation plans will continue for the next few years. Onsite, tenants are assisted by a social service coordinator who assists them by developing and coordinating social services as needed. These services include: meal delivery, visiting nurse services, congregate programs and individual counseling, as needed. In December 2005, this project, together with nine other POP senior buildings, were refinanced using a combination of NYC Housing Development Corporation (HDC) Bonds and Low Income Housing Tax Credits. The objectives of the refinancing were to lower the high interest rate mortgages, rehabilitate the building systems, envelope and common areas, capture developer fees to benefit POP and enhance social services for tenants. BIshop Mugavero Senior Apartments Project Description Number of Units 85 Placed in Service 1985 Neighborhood Population Served Fort Greene Senior/Older Adult Project Financing Total Development Cost $17,643,933-9 -

1980 s Highlights: Caring Communities In the fall of 1982, CCPOP purchased three buildings which included a former motherhouse and two former Catholic schools that would be converted and developed into affordable housing. In 1987, Most Holy Trinity Residence, Our Lady of Good Counsel and St. Joseph s opened their doors as part of Caring Communities, providing supported, affordable, safe communities for single adults. Along with housing, on-site staff provide social service support and work with tenants to build a sense of community. These buildings, along with one other developed by CCBQ, were the first Single Room Occupancy buildings built in a borough outside of Manhattan. The three original buildings together housed 225 tenants. Most Holy Trinity Our Lady of Good Counsel St. Joseph s The main building at 157 Graham Avenue that now houses Most Holy Trinity Residence served as the original motherhouse of the Dominican Sisters of Amityville. In 1987, Most Holy Trinity opened its doors as part of Caring Communities, providing supported, affordable, safe communities for single adults. Along with housing, on-site staff provide social service support and work with tenants to build a sense of community. These buildings, along with one other developed by CCBQ, were the first Single Room Occupancy buildings built in a borough outside of Manhattan. The three original buildings together housed 225 tenants. In 2006, Most Holy Trinity Residence underwent an extensive renovation to convert tenant units from single rooms to efficient studios. Our Lady of Good Counsel provides supportive housing for formerly homeless adults. Purchased in the mid-1980s from the Catholic Diocese, the historic building originally was three separate structures an all-boys school, an all-girls school and a rectory run by the Sisters of the Josephites. The buildings were renovated in 2003 and joined together. The parking lot between the buildings was turned into a lobby, and each of the residencies were converted from single room occupancy units into efficiencies to create 76 units total. The rent is subsidized through project based Section 8 rental assistance. - 10 - St. Joseph s provides quality supportive housing to 54 formerly homeless older adults. Catholic Charities converted the former Catholic grammar school into a traditional SRO in 1985, as one of the first permanent supportive housing sites for the homeless in the outer boroughs. Currently,the building is undergoing a gut renovation to add six new units of affordable housing, update building systems, and convert the bedrooms into efficiency apartments.

The 1990 s Msgr. Edward T. Burke, Parkville (1992) Rosary House, Jackson Heights (1995) Holy Spirit Senior House, Borough Park (1992) - 11 -

1990 s Highlights: Mercy Gardens Located in an adjacent wing of the Sisters of Mercy Mother House in Fort Greene, Mercy Gardens opened in 1992 to provide housing and supportive services to previously homeless women. Of the 78 tenants, 60 percent are referred from the New York City homeless system and have a history of chronic mental illness. The remaining 40 percent of tenants are homeless and housing needy from the community, with incomes too low to afford market rents. The project emerged from the desire of the Sisters of Mercy to reuse a portion of its building that historically was used as an orphanage, and later as a foster residence. The Sisters requested that the best repurposing was to serve formerly homeless. Mercy Gardens was the first Supportive Housing in New York City to use the Low Income Housing Tax Credit as a source of financing. In June 2012, the project was repositioned through the New York City s Year 15 Program, providing capital to renovate the building. Mercy Gardens Project Description Number of Units 78 Placed in Service 1993 Neighborhood Population Served Fort Greene Fomerly Homeless Women Project Financing Total Development Cost $7,530,876-12 -

1990 s Highlights: Monica House Monica House, a Community Residence/Single Room Occupancy (CR/SRO) transitional living residence, was opened in 1993 with 81 apartments units. Clients come to Monica House from a variety of settings from inpatient hospital facilities to homeless shelters. The ultimate goal of each resident is to move into permanent housing. While at Monica House, residents are prepared for this transition by receiving rehabilitation services aimed at increasing the independence of the client. This is provided by assistance with activities of daily living (basic personal hygiene, medication management, cooking classes, budgeting), case coordination, referral and collaboration with other service providers (mental health, physical health, substance abuse) and crisis intervention. Monica House Project Description Number of Units 81 Placed in Service 1993 Neighborhood Population Served Jamaica Mentally III Project Financing Total Development Cost $2,900,000-13 -

1990 s Highlights: St. Lucy & St. Patrick St. Lucy/St. Patrick provides 47 units of quality affordable housing to low income families in Clinton Hill. Catholic Charities developed the project in 1998 at the request of the local community. After the successful completion of Mercy Gardens, an adjacent development providing 76 units of supportive housing to formerly homeless women, the community asked Catholic Charities to convert these former schools into affordable housing for families. St. Lucy & St. Patrick Project Description Number of Units 47 Placed in Service 1999 Neighborhood Population Served Fort Greene Family Project Financing Total Development Cost $7,143,171-14 -

The New Millenium Bayview Homes/St. Camilus, Rockaway (2001) St. Teresa of Avila Senior Housing, Crown Heights (2002) St. Leonard Scalabrini, Buswick (2005) - 15 -

The New Millenium Mt. Carmel Apartments Mt. Carmel Senior Housing provides 67 apartments for seniors in a six-story building that features elevator service, several community spaces, landscaped open space and on-site parking. The site was formerly the yard of a cloistered monastery. Because the Sisters who had lived here were forbidden to have contact with the outside world, this property formerly had no interaction with the surrounding community. The reuse of this site for senior citizen housing allowed this property to once again participate in the life of the community. The monastery building located immediately adjacent to this project was also developed into 31 units of additional senior housing creating a senior campus. Mt. Carmel Apartments Project Description Number of Units 98 Placed in Service 2001 Neighborhood Crown Heights Population Served Senior/Older Adult Project Financing Total Development Cost $11,585,004-16 -

The New Millenium Casa Betsaida Casa Betsaida Residence for Persons with HIV/AIDS was established in 1995 as a direct response to the needs of persons with AIDS who were coming to the South Side Community Mission homeless shelter. The Mission, together with Transfiguration Church, and other local social service providers, sought to provide a supportive environment for very ill shelter residents with AIDS who required more extensive services than can be provided in a shelter setting. Casa Betsaida is an extension of the ministry and community outreach of Transfiguration Church. Because of its grassroots, community-based orientation, Casa Betsaida is reflective of the community from which it emerged, which is predominately Latino immigrant. A main objective of the program is to promote the concept of family which serves to support persons in need at Casa Betsaida. Today, the Casa Betsaida program provides supportive case management services to clients with AIDS who also have a history of homeless and/or substance abuse. Casa Betsaida Project Description Number of Units 28 Placed in Service 2004 Neighborhood Population Served Williamsburg Formerly Homeless/HIV/AIDS Project Financing Total Development Cost $8,071,320-17 -

The New Millenium Monsignor Anthony J. Barretta Apartments The $18 million, 64-unit, Catholic Charities Monsignor Anthony J. Barretta Apartments were developed as a partnership between the New York City Department of Housing Preservation and Development (HPD), the New York State Homes and Community Renewal (HCR) and the Community Preservation Corporation (CPC) and CPC Resources and is located on the site of the former school, rectory, and convent of Our Lady of Loreto Church. The apartments were developed under Mayer Michael R. Bloomberg s New Housing Marketplace Plan (NHMP), a multi-billion dollar initiative to finance 165,000 units of affordable housing for half a million New Yorkers by 2014. Located at 2354-2358 and 2372-2374 Atlantic Avenue, and 2353-2365 Pacific Street, Catholic Charities Monsignor Anthony J. Barretta Apartments is comprised of eight separate four-story buildings. Utilizing CPCR s highly successful Infill Housing Prototype design, the apartments have transformed underutilized, scattered sites into sound housing, a need which is increasingly important in a land-scarce city like New York. Conceived by RKT&B Architects and developed in conjunction with CPCR, the Infill Housing Prototype is inspired by New York City s brownstone walk-ups and applies energy-efficient techniques, including Energy Star appliances and highly efficient heating and air conditioning systems. Msgr. Anthony J. Barretta Apartments Project Description Number of Units 64 Placed in Service 2012 Neighborhood Ocean Hill Population Served Family Project Financing Total Development Cost $17,998,825 The design of the project was intended to give new life to a central block in this East New York neighborhood, reclaiming and redevleoping unused Church-owned property, while providing stability and vitality. The apartment project provided 64 units of affordable housing for families earning between 30 and 60 percent of Area Median Income (AMI) with local community prefernce for 50 percent of the unis. The building utilized affordable construction model that provided high quality housing in context with the local community. The residence includes eight buildings of eight units each, intended to fit contextually within the local neighborhood. The buildings are arranged in three groupings, two consisting of two adjacent buildings each (known as sites A and B) facing Atlantic Avenue, and the third consisting of four adjacent buildings facing Pacific Street (known as site C). - 18 -

The New Millenium Peter J. Striano Residences Catholic Charities Brooklyn and Queens and partners, New York State Homes and Community Renewal (HCR), New York City Department of Housing Preservation & Development (HPD), New York City Office for Persons With Developmental Disabilities (OPWDD) and the New York City Department for the Aging (DFTA) and elected officials, held the official dedication of the Catholic Charities Peter J. Striano Residence in Howard Beach, in December of 2013. The residence, located at 155-55 Cross Bay Boulevard, offers 96 units of affordable housing to seniors and persons with developmental disabilities, over the age of 55. It features an integrated approach to living with on-site social services, disaster case management services, food delivery services to homebound seniors and an on-site senior center, available for not just the residents Residence, but of the larger Howard Beach community. Of the 96 units, the Residence provides 27 studio, 60 one-bedroom and nine two-bedroom apartments targeted to seniors with incomes of up to 80 percent of Area Median Income (AMI) and persons with developmental disabilities with incomes of up to 30 percent AMI. A preference was given for current residents of Community Board 10 applied to 31 percent of the senior units. 22 Section 9 Project Based Vouchers were available to tenants with incomes of up to 50 percent AMI. Peter J. Striano Residences Project Description Number of Units 96 Placed in Service 2013 Neighborhood Howard Beach Population Served Family Project Financing Total Development Cost $33,628,730-19 -

Forward Progress On-going Construction and Improvements CCPOP continues to renovate its developments to keep them up to date on standards and maintain a certain standard of efficiency and excellence. Currently, CCPOP is working on a major renovation project in its Caring Communities buildings of Most Holy Trinity, Our Lady of Good Counsel and St. Joseph s. Construction on this project began in 2013. The total development cost of this venture is proposed at $59,600,000. The portfolio was converted from the existing HUD Mod-Rehab Contract renewed annually to a 15-year Section 8 Project-Based Voucher (PBV) contract under the 2012 HUD Rental Assistance Demonstration (RAD) program. A summary of the current project: St. Joseph s (currently 54 units): substantial renovation, including six new units from underutilized building space, kitchen/common room renovation and bathroom facilities, yard, corridor and basement. Objective is to convert St. Joseph s from shared bathroom/kitchen SRO model to efficiency units providing increased qualityof-life for tenants. [1] Our Lady of Good Counsel (currently 76 units): moderate renovation, including 22 new units from under utilized space, stoop and façade exterior renovation, existing basement mechanical space, roof and lobby. [2] Most Holy Trinity (75 units): roof replacement, energy efficiency upgrades and minor repairs. [3] [1] [2] [1] [3] - 20 -

Leader in Financing The CCPOP portfolio of affordable housing properties serves the most vulnerable of New York City, providing the highest quality housing to those most in need, including the formerly homeless, seniors, and lowincome families. Throughout the history of the organization, CCPOP has strived to create quality units for these populations using cost-efficient financing strategies. To date POP has closed on $605,434,806 in financing. In 1991, CCPOP attracted more than $400,000 in foundation support to establish a Revolving Loan Fund to cover predevelopment costs. The revolving loan fund improved the efficiency of CCPOP staff, allowing them to focus efforts on securing construction and permanent financing rather than predevelopment costs. In 1992, CCPOP developed the first Supportive Housing Single-Room Occupancy (SRO) in New York City to use the Low Income Housing Tax Credit (LIHTC) as a source of financing. Mercy Gardens SRO, located in Clinton Hill community of Brooklyn, used LIHTC to support both the capital renovation of the historic building and to fund operating and social services reserves. With this innovative service delivery package and financed through LIHTC, Mercy Gardens is a model supportive housing project replicated by many other housing providers. Sr. Lucian Apartments in Bushwick was one of the 10 projects refinanced in 2005 with tax credits to re-structure the mortgage. The success of POP Development has attracted private investment and helped to leverage public funds. CCPOP has syndicated 20 of its projects and used a variety of City, State and Federal funding sources including tax-exempt bonds. POP Development s refinancing of ten of its senior HUD 202 buildings in 2005 using tax-exempt bonds and low-income housing tax credits now serves as a preservation model for many owners and developers. Private investors include Fannie Mae, Wells Fargo Bank, B&H Photo, and Ron Moelis of L&M Development Partners. CCPOP has also created a limited equity co-op model that is now widely replicated. As early as 1983, CCPOP used an early form of tax incentives to attract socially conscious investors to purchase its first project, the Pierrepont Hotel in Brooklyn Heights. This model predated the low income housing tax credit. The Msgr. Edward T. Burke Apartments in Jackson Heights was one of the 10 projects refinanced in 2005 with tax credits to re-structure the mortgage. In 2005, CCPOP completed one of the largest refinancing initiatives in the nation by restructuring debt on 10 of its oldest HUD Section 202 projects. The project included a bond issue from the New York City Housing Development Corporation (HDC), was insured by Fannie Mae, and supplemented by 4 percent tax credits. The capital proceeds from the refinancing, - 21 -

Leader in Financing Holy Spirit Senior House in Borough Park was one of the 10 projects refinanced in 2005 with tax credits to re-structure the mortgage. the operating cost savings resulting from lower interest rates and the use of low-income housing tax credit equity is being used to enhance tenant services, improve the physical condition of the properties, and provide essential funds to enhance management and fiscal capacities. This refinancing initiative is a model for other Section 202 housing providers to refinance properties. In 2007, CCPOP established an Equity Fund to enable continuous and timely development of a wide range of affordable housing projects. The Fund, currently valued at over $5,500,000, ensures fiscal responsibility and flexibility in project start-up, acquisition and construction. In 2007 and 2008, POP capitalized on the Greenpoint/Williamsburg rezoning to preserve 130 units of affordable housing through the sale of inclusionary air rights to private developers. In 2013, POP completed the first conversion in New York City of a mod rehab section 8 contract to a RAD project based voucher contract. The RAD contract enabled the project to use tax exempt bonds and tax credits to preserve the 205 unit portfolio for formerly homeless adults. The project will add 28 new affordable units, complete a gut rehab of one building, and make critical capital improvements to the building systems. - 22 -

Projects Developed and Grants Secured at Catholic Charities Progress of Peoples Development Corporation Bishop Boardman Project Neighborhood Seller/Lessor Units Population Windsor Terrace Year Opened Total Development Cost Home for the Aged of the Little Sisters of 200 Senior 1980 $31,197,931 Pierrepont House Brooklyn Heights Privately owned 188 Senior 1979 $72,375,788 Catherine Sheridan Astoria Rockland Realty 240 Senior 1979 $10,142,082 Msgr. Mullaney House Sunset Park Whitestone Bank 16 Senior 1983 $1,010,000 Bishop Francis Mugavero Fort Greene New York City 85 Senior 1985 $17,643,933 Mary Star of the Sea Carroll Gardens New York City 100 Senior 1985 $23,952,267 Sr. Lucian Bushwick Wyckoff Hospital 150 Senior 1986 $29,231,700 St. Brendans Midwood St. Brendan 120 Senior 1986 $23,410,320 St. Josephs Prospect Heights St. Joseph 60 Formerly Homeless/M entally Ill 1985 $16,813,031 Most Holy Trinity Williamsburg Most Holy Trinity 88 Formerly Homeless/M entally Ill 1985 $36,168,491 Our Lady of Good Counsel Bedford/Stuyvesant Our Lady of Good Counsel 98 Formerly Homeless/M entally Ill 1985 $30,683,302 Pope John Paul II Bay Ridge Our Lady of the Angels 60 Senior 1986 $13,818,711 Erasmus Place Holy Cross 90 Family 1987 17th Street Co ops New York City 52 Family 1980s St. Theresa s Homesteading New York City 16 Family 1980s Queens Rehab New York City 4 Family 1980s 1527 Lincoln Place Homesteading Crown Heights New York City 9 Family 1980s $675,000 Putnam Avenue Homesteading Crown Heights New York City 26 Family 1980s $1,808,298 1611 Lincoln Place Homesteading Crown Heights New York City 6 Family 1980s $390,674 Msgr. John P. O'Brien Borough Park St. Catharine of Alexandria 114 Senior 1987 $25,748,474 101 05 South 8th Street Williamsburg New York City 25 Family 1989 $5,947,861 176 South 8th Street Williamsburg New York City 30 Family 1989 $6,601,733 Claver Place Homesteading Clinton Hill New York City 8 Family 1989 $245,060 St. Johns Bleibtreu House Bedford/Stuyvesant Diocese of Brooklyn 36 Family 1990 $5,104,710 Msgr. Thomas Campbell Astoria New York City 72 Senior 1988 $18,494,462 Mercy Gardens Fort Greene Sisters of Mercy 78 Fomerly Homeless Women 1993 $7,530,876 Monica House Jamaica Privately owned 81 Mentally Ill 1993 $2,900,000 Msgr. Edward T. Burke Parkville St. Rose of Lima 50 Senior 1992 $13,354,318 Holy Spirit Senior House Borough Park Holy Ghost 50 Senior 1992 $13,468,962 Father Richard Reder Bellerose New York State 50 Senior 1994 $4,344,000 Rosary House Jackson Heights Our Lady of Fatima 93 Senior 1995 $9,374,625 Sisters Adorers of the David Minkin Borough Park Precious Blood 100 Senior 1995 $9,435,000 Saint Pius V Jamaica St. Pius V 70 Senior 1998 $6,919,100 Sisters Adorers of the Msgr. Joseph F. Stedman Borough Park Precious Blood 88 Senior 1998 $7,159,400 St. Lucy/St. Patrick Fort Greene St. Patrick 47 Family 1999 $7,143,171 St. Paul the Apostle Corona St. Paul the Apostle 83 Senior 2000 $7,119,600 Bayview Homes (St. Camillus) Rockaway St. Camillus 46 Family 2001 $9,392,197 Mt. Carmel Monastery Crown Heights Monastery of Our Lady of Mount Carmel 31 Senior 2001 $5,273,464 Mt. Carmel Senior Housing Crown Heights Monastery of Our Lady of Mount Carmel 67 Senior 2001 $6,311,540 St. Teresa of Avila Senior Housing Crown Heights St. Teresa 63 Senior 2002 $8,981,100 Casa Betsaida Williamsburg Transfiguration 28 Formerly Homeless/HI V/AIDS 2004 $8,071,320 St. Leonard Scalabrini Bushwick St. Leonard 85 Family 2005 $16,835,239 Riverdale Osborne Brownsville Riverdale Towers HDFC 524 Family 2007 $38,729,511 Msgr. Anthony J. Barretta Ocean Hill Our Lady of Loreto 64 Family 2012 $17,998,825 The Peter Striano Residence Howard Beach New York State 96 Family 2011 $33,628,730 Total 3687 $605,434,806-23 -

- 24 -