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7 Wausau Community Development Authority Balance Sheet September 30, 2017 Low Rent (46 Scattered Sites) Voucher (Sec 8) Riverview Terrace Business Activity ** Business Activity II Redevelopment (Fund 01) (Fund 02) (Fund 12) (Fund 15) (Fund 17) (Fund 16) Entity Wide 2016 Entity Wide ASSETS Cash '1111 Cash - Unrestricted 2, , , , , , , '1117 Petty Cash '1118 Change Fund '1162 General Fund Investments 839, , , ,646, , , ,746, ,666, Cash 842, , , ,648, , , ,760, ,680, Accounts Receivable 1121 Accounts Receivable- Fraud 7, , , '1122 Accounts Receivable - Tenants 2, , , Accounts Receivable - HUD 1129 Accounts Receivable - Other Accounts Receivable - Other 7, , , '1145 Accrued Interest Receivable Accounts Receivable 2, , , , , Other Current Assets 1210 Prepaid Expenses 1, , , , '1211 Prepaid Insurance 1, '1295 Interfund due to/from 2, , , Other Current Assets 1, , , , , Noncurrent Assets 1350 CDA Mortgage Sale 20, , , '1400 Land/Structures/Equip Less Accum. Deprn 3,844, , ,819, ,00 5,726, ,799, Note Receivables - Tax Credits 3,451, , ,742, ,858, Investment in Tax Credits 174, , , Noncurrent Assets 7,470, , ,819, , , ,665, ,853, TOTAL ASSETS 8,316, , ,462, ,999, , , ,450, ,561,776.08

8 LIABILITES Accounts Payable 2110 Bank Overdraft '2111 Accounts Pay. Vendors & Contractors 1, '2114 Tenants Security Deposits 20, , , , A/P HUD '2119 Other Accounts Payable 19, , , , , , , Accounts Payable 39, , , , , , , Accrued Liabilities '2134 Accrued Compensated Absences 13, , , , , , Other Accrued Liabilities '2137 Payment in Lieu of Taxes 9, , , , '2145 Inter program due (to/from) '2240 Tenants Prepaid Rents '2290 Other Deferred Credits Accrued Liabilities 23, , , , , , Longterm Liabilities 2319 Business Loans 750,00 750,00 750, Payable to City of Wausau Longterm Liabilities 750,00 750,00 750,00 TOTAL LIABILITIES 813, , , , , , , NET POSITION Net Postion '2700 Income & Expense Summary -41, , , , , , , , '2802 Invested in Capital Assets 3,844, , ,819, ,00 5,726, ,799, '2810 Unrestricted & Restricted Net Position 3,699, , , ,930, , , ,893, ,007, Tax Credit Equity Net Position 7,502, , ,441, ,999, , , ,597, ,678, NET POSITION & LIABILITIES 8,316, , ,462, ,999, , , ,450, ,561, *** The Business Activity column consists of the fund that are the proceeds from the sale of Kannenberg to the Kannenberg LLC tax credit. When the property was sold, funds became unrestricted and can be used however PHA decides to use them.

9 Wausau Community Development Authority - Entity Wide Income Statement September 30, 2017 = Voucher, Redevelopment, and Business Activities I & II 2017 Quarterly 2017 YTD 2017 Budget 2016 Quarterly 2016 YTD 2016 Budget REVENUES Tenant Revenue '3420 Tenant Revenues - Rent 63, , , , , ,50 '3420 Tenant Revenues - Rent Housing Assistance Pymt Housing Assistance Pymt '3421 Tenant Rent - Vacancy Loss '3421 Tenant Rent - Vacancy Loss '3422 Tenant Revenue - excess utlities , , , '3422 Tenant Revenue - excess utlities Tenant Revenue 64, , , , , , Other Revenue 3410 Revenue - HUD 3410 Revenue - HUD 315, , , , , '3430 Interest Income 14, , , , , , '3430 Interest Income 3, , , , '3435 Restricted Interest Income '3435 Restricted Interest Income Gain/loss on sale of equipment Gain/loss on sale of equipment '3440 Other Charges for Services 3, , , , , , '3440 Other Charges for Services Fraud Recovery 3450 Fraud Recovery 4, , , , Other Revenue 1,17 3,80 3, Other Revenue 9, , , , Port In Hap & Admin 4, , CFP Operations 50,00 37, ,00 37, Operating Subsidy 29, , , , , , Operating Subsidy 3691 Cash Receipts from Section 8 33, , , , , , Developer Fees

10 3692 Insurance Proceeds/VNA Charges to Tenants 74, , , , , , Insurance Proceeds/VNA Charges to Tenants Other Revenue 492, ,526, ,347, , ,416, , TOTAL REVENUES 556, ,716, ,523, , ,593, , EXPENSES Administrative Expenses 4110 Administration Salaries 21, , , , , , Administration Salaries 22, , , , , Advertising and Marketing , , , , Advertising and Marketing Legal Expense Legal Expense 2, Staff Training , , Staff Training ,31 1, , Travel , , Travel , , Office Expense 2, , , , , , Office Expense 31, , , , , Accounting Fees 1, , ,76 1, , , Accounting Fees 1,42 5, , , , Audit Fees 1,35 6,95 5, ,95 5, Audit Fees 5,55 1, , Empl. Benefit Contrib. -Admin 9, , , , , , Empl. Benefit Contrib. -Admin 6, , , , , Empl. Benefit Contrib. -Maint Empl. Benefit Contrib. -Maint 4190 Other Admin and Sundry 1, , , , , Other Admin and Sundry Telephone , , , , Telephone Recreation - Social Act Outside Mgt Fees 4195 Outside Mgt Fees Administrative Expenses 102, , , , , , Tenant Services Expenses 4210 Tenant Services Salaries 4210 Tenant Services Salaries 4220 Rec. Pub., and Other 1, , , , , ,337.50

11 4220 Rec. Pub., and Other Recreation - Social Act. Recreation - Social Act Tenant Store Expenses 4221 Tenant Store Expenses 4230 Contract Costs/VNA Expenses 88, , , , , , Contract Costs/VNA Expenses Tenant Services Expenses 90, , , , , , Utility Expenses 4310 Water 2, , , , , , Water 4320 Electricity 8, , , , , , Electricity , , , Gas , , , , Gas 4360 Sewer 3, , , , , , Sewer 4390 Other Utilities Expense , , , , Other Utilities Expense 17, , ,92 Utility Expenses 16, , , Maintenance Expenses 4410 Maint. Labor 16, , , , , , Maint. Labor 1, , ,15 1, , Maint. Materials 3, , ,50 4, , , Maint. Materials 4430 Maintenance Contracts 5, , , , , , Maintenance Contracts 4431 Garbage & Trash Removal , , , , Garbage & Trash Removal 4433 Empl. Benefit Contr. Maint. 6, , , , , , Empl. Benefit Contr. Maint Misc. Operating Expenses Misc. Operating Expenses Maintenance Expenses 32, , , , , , Protective Services Expenses 4460 Labor Labor

12 4470 Materials Materials 4480 Contract Costs 1, , , , , , Contract Costs Protective Services 1, , , , , ,25 Other General Expenses 4510 Insurance Expense , , , , , Insurance Expense , , , Payment in Lieu of Taxes 4, , , , , , Payment in Lieu of Taxes 4570 Collection Losses , ,80-2, , Collection Losses 4590 Other General Expense 1, Other General Expense , Gain/Loss on Investments Interest Expense 4595 Compensated Absences 1, Compensated Absences 1, Other General Expenses 6, , , , , , Extraordinary/Casualty Loss Expenses 4610 Labor 2,81 3, , , Labor 4620 Labor 4, , Labor Extraordinary/Casualty Loss 2,81 3, , , ,05 Housing Assistance Payments 4715 Hap Expenses 286, , ,00 257, , Hap expenses 286, , ,00 257, , Depreciation Expense 4800 Depre Expense - PHA Funded 78,30 234,90 254,25 84, , , Depre Expense - PHA Funded Depreciation Expense 78,60 235,80 254,61 84, , ,50 TOTAL OPERATING EXPENSES 614, ,739, ,673, , ,723, , Change in Net Position -57, , , , , ,960.75

13 Prior Year Adjustments 6010 Prior Year Adjustments 6010 Prior Year Adjustments Prior Year Adjustments Equity Transfers 9116 Equity Transfers 9116 Equity Transfers Equity Transfers NET INCOME/LOSS -57, , , , , ,960.75

14 COMMUNITY DEVELOPMENT AUTHORITY INCOME STATEMENT SUMMARY THROUGH SEPTEMBER 30, QUARTERLY 2017 YTD 2017 BUDGET 2016 YTD TTL TENANT REV $64, $189, $175, $176, TTL OTHER REV $155, $518, $469, $500, TOTAL REVENUE $219, $707, $645, $676, TTL ADMIN EXP $39, $101, $125, $128, TTL TENANT SRVC EXP $90, $238, $263, $232, TTL UTILITY EXP $15, $46, $52, $43, TTL MAINTENANCE EXP $31, $96, $106, $97, TTL PROTECTIVE SRVC EXP $1, $4, $2, $2, TTL OTHER EXP $5, $13, $23, $19, TTL EXTRA/CASUALTY EXP $ $2,81 $3, $6, TOTAL OPERATING EXPENSES $183, $503, $577, $530, INCOME/(LOSS) BEFORE DEPRECIATION $36, $204, $67, $146, DEPRECIATION EXP $78,30 $234,90 $254,25 $254, NET INCOME/(LOSS) ($42,265.23) ($30,555.66) ($186,996.87) ($107,454.98)

15 COMMUNITY DEVELOPMENT AUTHORITY INCOME STATEMENT SUMMARY THROUGH SEPTEMBER 30, 2017

16 RIVERVIEW TOWERS LLC FINANCIAL STATEMENTS For the Accounting Period Ending September 30, 2017

17 ACCOUNTANTS COMPILATION REPORT To the Members Riverview Towers LLC Management is responsible for the accompanying financial statements of Riverview Towers LLC ( Project ), which comprise the balance sheet as of September 30, 2017, and the related statement of operations for the one month and nine months then ended in accordance with accounting principles generally accepted in the United States of America. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the financial statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on these financial statements. Accounting principles generally accepted in the United States of America require that accounts payable be recorded. Management has informed us that the Project has not recorded accounts payable. Management has not determined the effects of these departures on the financial statements. Management has elected to omit substantially all of the disclosures and the statement of cash flows required by accounting principles generally accepted in the United States of America. If the omitted disclosures and the statement of cash flows were included in the financial statements, they might influence the user s conclusions about the Project s assets, liabilities, equity, revenue, and expenses. Accordingly, the financial statements are not designed for those who are not informed about such matters. The accompanying budget of the Project for the year ending December 31, 2017, has not been compiled or examined by us, and, accordingly, we do not express an opinion or any other form of assurance on it. Management has elected to omit the summaries of significant assumptions and accounting policies required under established guidelines for presentation of prospective financial statements. If the omitted summaries were included in the budgeted information, they might influence the user s conclusions about the Project s budgeted information. Accordingly, this budgeted information is not designed for those who are not informed about such matters. We are not independent with respect to the Project. La Crosse, Wisconsin October 5, 2017

18 Riverview Towers LLC Balance Sheet-Riverview Towers LLC September 30, 2017 Current Period Cumulative 1 H:\hms\reports\\1NET.QRP ASSETS CURRENT ASSETS Cash Cash - Construction (US Bank) Cash - Unrestricted Cash - Reserve Account Cash - Savings/Money Mkts/CDs Accounts Receivable Accounts Receivable - Tenants Accounts Receivable - Other Accounts Receivable - Subsidy Accrued Receivables Accrued Interest Receivable Other Current Assets Prepaid Expenses Prepaid Insurance Interprogram Due (to) from PH TOTAL CURRENT ASSETS 1, , , , , , (68.50) 1, , (443.15) 5, (770.04) 5, , , , , , , *(See Accountants' Compilation Report)

19 Riverview Towers LLC Balance Sheet-Riverview Towers LLC September 30, 2017 Current Period Cumulative 2 H:\hms\reports\\1NET.QRP NONCURRENT ASSETS Fixed Assets CWIP Land Land Improvements Dwelling Equipment Nondwelling Equipment Building Improvements Accumulated Depreciation Other Assets Tax Credit Fees Tax Credit Fee Amort Financing Fees Financing Fees Amort TOTAL NONCURRENT ASSETS 17,56 13, , ,043, (19,30) (1,327,561.98) (19,30) 8,996, , (261.74) (15,704.40) (261.74) 31, (19,561.74) 9,027, TOTAL ASSETS (5,488.03) 9,875, *(See Accountants' Compilation Report)

20 10/05/2017 Riverview Towers LLC 3 1:51:07 PM Balance Sheet-Riverview Towers LLC H:\hms\reports\\1NET.QRP kjp September 30, 2017 Current Period Cumulative LIABILITIES AND MEMBERS' EQUITY CURRENT LIABILITIES Accounts Payable A/P - Vendors & Contractors A/P - Other Tenants Security Deposits A/P - Other A/P - Payroll A/P - Gorman Compliance Fee A/P - Gorman Developer Fee A/P - Subsidy Accrued Liabilities Accrued Comp Absences - Due within one year Other Accrued Liabilities Payment in Lieu of Taxes Accrued Asset Mgt Fee Other Current Liabilities Interprogram Due to (from) PH Interprogram Due to (from) Riverview Terrace Interprogram Due to (from) BA II Tenants Prepaid Rent TOTAL CURRENT LIABILITIES NONCURRENT LIABILITIES Accrued Comp Absences Notes Payable - Construction Loan Notes Payable - Wausau CDA PH Interest Payable - Wausau CDA PH Notes Payable - Wausau CDA PH (AHP loan) Interest Payable - Wausau CDA PH (AHP loan) TOTAL LIABILITIES , , , , , , , , , , , , , , , ,500,00 4, , , , , ,451, , ,571, *(See Accountants' Compilation Report)

21 10/05/2017 Riverview Towers LLC 4 1:51:07 PM Balance Sheet-Riverview Towers LLC H:\hms\reports\\1NET.QRP kjp September 30, 2017 Current Period Cumulative MEMBERS' EQUITY CY Net Change Syndication Costs Unrestricted Net Assets Managing Member Equity NEF Investor Equity TOTAL MEMBERS' EQUITY (23,463.65) (215,264.76) (52,00) 174, ,396, (23,463.65) 6,304, TOTAL LIABILITIES AND MEMBERS' EQUITY (5,488.03) 9,875, Proof *(See Accountants' Compilation Report)

22 Riverview Towers LLC Time: 1:53:18 Stmnt of Operations-Riverview Towers LLC kjp Nine Month Period - September 30, 2017 Date: 10/05/2017 Page: 1 Rpt File: H:\hms\reports\\1GLOS1.QRP ****** PERIOD TO DATE****** PUM Actual Budget ***YTD ACTUAL*** PUM Actual ***YTD BUDGET*** Budget Variance PUM , , OPERATING REVENUE Rental Revenue Tenant Revenue - Rent Excess Utilities , , , , , , , , , , Nonrental Revenue Other Inc - Tenants Charges Other Inc - Tenant Store Other Income Laundry Vending Operating Subsidy Other Inc - Insurance Proceeds , , , , , , , , , , , , , , , , (271.97) (150.03) (122.01) 12, , TOTAL OPERATING REVENUE , , , , , OPERATING EXPENSES Administration Administration Salaries Admin Salaries - Comp Abs Advertising & Marketing Legal Expense Staff Training Travel Mileage Office Expenses Accounting Fees Audit Fees Employee Benefits - Admin Other Admin and Sundry Telephone Management Fee Compliance Fee Asset Management Fee , , (557.20) , , , , , , , , , , , , , , , , ,90 7, , , , , , , , , , , , , , , , , , , , (658.98) (52.00) (8,452.39) (168.81) (123.75) (191.79) 1, Tenant Services Tenant Services Salaries Rec, Pub and Other Tenant Store Expenses , , , , , , (1,790.68) (130.37) (1,921.05) *See Accountants' Compilation Report

23 Riverview Towers LLC Time: 1:53:18 Stmnt of Operations-Riverview Towers LLC kjp Nine Month Period - September 30, 2017 Date: 10/05/2017 Page: 2 Rpt File: H:\hms\reports\\1GLOS1.QRP ****** PERIOD TO DATE****** PUM Actual Budget ***YTD ACTUAL*** PUM Actual ***YTD BUDGET*** Budget Variance OPERATING EXPENSES Utilities Water Electricity Gas Sewer Other Utilities Expense , , , , , , , , , , , , , , , (2,019.93) (5,724.20) (4,068.80) (2,184.34) (345.00) (14,342.27) Maintenance and Operations Maint Labor Maint Labor - Comp Abs Maint Materials Heating & Cooling Snow Removal Elevator Maintenance Landscape & Grounds Unit Turnaround Electrical Plumbing Extermination Janitorial Other Contract Costs Routine Garbage & Trash Removal Employee Benefits - Maint , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , (3,454.02) (796.61) (40) (87.80) (47.07) (1,500.03) (375.03) 6, (3,60) (617.79) (288.30) (2,615.33) Protective Services Contract Costs , , , , General Expense Insurance - Property Insurance - Liability Insurance - Workers Comp Insurance - Other Payment in Lieu of Taxes Collection Losses Other General Expense Other Gen Exp - Compliance Fee Other Gen Exp - Tax Return Compensated Absences , , , , , , , , , , , , , , , , , , , , , (410.23) (898.98) (600.03) 2, (299.97) 26, , ,50 9, , *See Accountants' Compilation Report

24 Riverview Towers LLC Time: 1:53:18 Stmnt of Operations-Riverview Towers LLC kjp Nine Month Period - September 30, 2017 Date: 10/05/2017 Page: 3 Rpt File: H:\hms\reports\\1GLOS1.QRP ****** PERIOD TO DATE****** PUM Actual Budget ***YTD ACTUAL*** PUM Actual ***YTD BUDGET*** Budget Variance Extraordinary Maintenance Labor Contract Costs , , , , (1,230.28) (1,230.28) Casualty Losses Contract Costs Depreciation Expenses Depreciation Expense Amortize - Tax Credit Fees Amortize - Finance Fees , , , ,70 245, , , , , , , (71,665.47) (0.09) (1,357.47) (73,023.03) TOTAL OPERATING EXPENSES , , , , OPERATING INCOME (LOSS) (19,204.42) (27,894.41) (177,130.76) (251,049.69) (51,046.35) 73, Nonoperating Revenue (Expense) Investment Income Gain (Loss) on Fixed Assets Interest Expense - CDA Loan Interest Expense - AHP CDA Loan Operating Transfer In (4,166.67) (314.06) (4,259.23) , , (4,166.67) (37,500.03) (37,500.03) 2.11 (2,826.54) (3,933.34) (38,134.00) (35,400.06) (2,826.54) (2,733.94) CHANGE IN NET ASSETS (23,463.65) (31,827.75) (215,264.76) (286,449.75) 71, Prior Period Adjustments NET CHANGE (23,463.65) (31,827.75) (215,264.76) (286,449.75) 71, *See Accountants' Compilation Report

25 RIVERVIEW TOWERS LLC INCOME STATEMENT SUMMARY THROUGH SEPTEMBER 30, QUARTERLY 2017 YTD 2017 BUDGET 2016 YTD TTL TENANT REV $122, $366, $357, $356, TTL OTHER REV $4, $79, $66, $44, TOTAL REVENUE $127, $446, $423, $401, TTL ADMIN EXP $46, $162, $160, $156, TTL TENANT SRVC EXP $1, $3, $5, $4, TTL UTILITY EXP $23, $64, $78, $62, TTL MAINTENANCE EXP $37, $119, $121, $111, TTL PROTECTIVE SRVC EXP $1, $2, $1, $1, TTL OTHER EXP $15, $91, $51, $78, TTL EXTRA/CASUALTY EXP $ $2, $3, $3, TOTAL OPERATING EXPENSES $125, $445, $423, $417, INCOME/(LOSS) BEFORE DEPRECIATION $2, $1, $ ($16,263.60) DEPRECIATION EXP $58, $176, $249, $247, NET INCOME/(LOSS) ($56,419.40) ($174,938.19) ($248,949.72) ($263,500.26)

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