LIHTC Properties in Arizona through Annual Allocated Amount. Zip Code. Allocation Year. Nonprofit Sponsor

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2 Ceiling Credit Percentage Ak-chin Homes I W Peters And Nall Rd Maricopa AZ No Acquisition And Rehab Both 30% and 70% No Ak-chin Homes Ii W Peters And Nall Rd Maricopa AZ No 2004 $ 247, New Construction % present value No Alexandrite Sands 1600 W 12th St Yuma AZ No New Construction % present value Yes Alvernon Hacienda 3949 E Monte Vista Dr Tucson AZ Yes New Construction % present value No Amber Pointe Apartments 4625 S 7th Ave Phoenix AZ No 2007 $ 861, New Construction % present value No Amistad Apartments 1260 Cesar Chavez Ave Somerton AZ Not Indicated Not Indicated Anacapa Apartments 1206 Anacapa Dr Lake Havasu City AZ New Construction Not Indicated Anthony Gardens Apartments 1919a N La Canada Dr Green Valley AZ New Construction Not Indicated Apache Ridge Townhomes 235 W. Fatco Road Whiteriver AZ No New Construction % present value No Aspen Ridge 831 E Mingus Ave Cottonwood AZ No New Construction % present value No Becket House/havasu Hills Apartment Homes 825 Cashmere Dr Lake Havasu City AZ No 2006 $ 898, New Construction % present value No Bell Mirage Estates N Greasewood St Surprise AZ No 2007 $ 900, New Construction % present value No Bella Vista Gardens (aka California Sunrise Villas) 3331 W Taylor St Phoenix AZ No Acquisition And Rehab % present value Yes Bienestar Apartments 690 N. 10th Avenue San Luis AZ Yes New Construction % present value No Bisbee Apartments Copper City 500 W Melody Ln Bisbee AZ No New Construction % present value No Boulder Terrace 202 N Boulder Ter Tucson AZ No New Construction % present value No Bradshaw Senior Community 133 Bradshaw Dr Prescott AZ No 2006 $ 967, New Construction % present value No Bradshaw Vista Apartments 560 Penn Ln Wickenburg AZ Not Indicated Not Indicated Briarwood Ii Apartments 2080 Moyo Dr Lake Havasu City AZ New Construction Not Indicated Buckeye Senior Apartments 605 S 4th St Buckeye AZ No New Construction % present value No Campaige Place 209 W Jackson St Phoenix AZ No New Construction % present value Yes Canal Senior Apartments 807 S Westerly Rd Payson AZ Yes New Construction % present value No Canalside Homes I E Osborn Rd Scottsdale AZ Not Indicated Not Indicated Canalside Homes Ii E Osborn Rd Scottsdale AZ Yes New Construction % present value No Canyon Creek Apartments 901 N California St Coolidge AZ Not Indicated Not Indicated Canyon Run Apartments 701 White Spar Rd Prescott AZ No New Construction % present value No Canyon Walk Apartments, Phase I 2795 Desert Foothills Blvd Bullhead City AZ No New Construction % present value No Capitol Mews Apartments (dba-legacy Bungalows Apartments) 1350 W Van Buren St Phoenix AZ No New Construction % present value Yes Carver Park Townhomes 490 S 17th Ave Yuma AZ Yes New Construction % present value No Casa Bonita Apartment Homes 1100 E Parkway Dr Nogales AZ No New Construction % present value No Casa Bonita I & Ii 327 W King Rd Tucson AZ Yes New Construction % present value No Casa Bonita Iii, Iv, And V 1016 E Milton Rd Tucson AZ Yes New Construction % present value No Casa De Colinas 2162 W Speedway Blvd Tucson AZ No New Construction % present value No Casa De Encanto 250 N Silverbell Rd Tucson AZ No 2005 $ 125, Acquisition And Rehab % present value Yes Casa De Flores Apartments Lihtc 1775 S 20th Ave Safford AZ No 2006 $ 56, Acquisition And Rehab % present value Yes Casa De Oro Apartments 409 N Christine Ave Douglas AZ Not Indicated Not Indicated Casa De Roman Apartments 517 W Yucca St Somerton AZ Yes New Construction % present value No Casa Del Lago 3140 Kearsage Dr Lake Havasu City AZ No New Construction % present value No Casa Loma Triangle Hsg 204 W Allen St Tombstone AZ No New Construction % present value No Casa Mirage Apartments W Thunderbird Rd El Mirage AZ No New Construction % present value No Casa Nueva Apartments 125 N 18th St Phoenix AZ No New Construction % present value No Catalina Village Assisted Living 5324 E 1st St Tucson AZ No Acquisition And Rehab % present value Yes Catherine Arms Apartments Lihtc 315 W Fillmore St Phoenix AZ Yes 2007 $ 532, New Construction % present value No Center Ridge Apartments 105 E Main St Payson AZ No 2007 $ 851, New Construction % present value No Chandler Gardens 300 E Commonwealth Ave Chandler AZ No New Construction % present value No Chandler Village Apartments 598 N Mcqueen Rd Chandler AZ No Acquisition And Rehab % present value No Chaparral Apartments 980 Kenwood Ave Kingman AZ No 2008 $ 34, Acquisition And Rehab % present value Yes Cholla Ranch 316 N Miller Rd Buckeye AZ Not Indicated Not Indicated Cimarron Apartments 1050 E Beverly Ave Kingman AZ No 2008 $ 46, Acquisition And Rehab % present value Yes Cochise Canyon Apartments 1620 Apache Dr Douglas AZ New Construction Not Indicated Colonia Del Rey 120 N Mcqueen Rd Chandler AZ No New Construction % present value No 2

3 Credit Percentage Colonia Libre Townhomes Dba Valle Del Sur 251 W 38th St Tucson AZ Yes New Construction % present value No Colores Del Sol Apartments 5933 S 6th Ave Tucson AZ No New Construction % present value No Coolidge Station 623 N Main St Coolidge AZ No New Construction % present value No Copper City Villas Apartments 508 W Melody Ln Bisbee AZ Not Indicated Not Indicated Copper Cove Apartments 101 N 91st Ave Tolleson AZ No New Construction % present value Yes Copper Ridge Apartments 3050 Hualapai Mountain Rd Kingman AZ No New Construction % present value Yes Coral Gardens 3230 E Roosevelt St Phoenix AZ Yes Acquisition And Rehab % present value No Coral Pointe A.k.a Topaz Pointe Apartments 2140 E Broadway Rd Phoenix AZ No 2010 $ 994, New Construction % present value No Coronado Community, L.p. 903 N California St Coolidge AZ Not Indicated Not Indicated Coronado Courts Apartments 1830 Bonita Ave Douglas AZ Acquisition And Rehab Not Indicated Coronado Glen Apartments Phase I And Ii 601 S Vulture Mine Rd Wickenburg AZ New Construction Not Indicated Cottonwood Crossing Apartments 1565 N Wildflower Dr Casa Grande AZ No New Construction % present value No Council House Apartments 2323 E 10th St Tucson AZ No 2004 $ 440, Acquisition And Rehab % present value Yes Country Club Of La Cholla 8700 N La Cholla Blvd Tucson AZ No New Construction % present value Yes Courtside Apartments 220 S 6th St Cottonwood AZ No New Construction % present value No Crismon Cove 9936 E Birchwood Ave Mesa AZ New Construction Not Indicated Crit Housing I st Ave Parker AZ No 2008 $ 868, Not Indicated Both 30% and 70% No Crystal Creek Townhomes 4500 Campus Dr Sierra Vista AZ Yes New Construction % present value No Curley School Apartments 201 W Esperanza Ave Ajo AZ Yes 2005 $ 511, Both New Construction A % present value No Cypress Point Apartments 1771 E Mcmurray Blvd Casa Grande AZ No New Construction % present value No Del Bac Townhomes 1255 N 14th Ave Tucson AZ No New Construction % present value No Del Moral Apts Dba Los Montano 6280 S Campbell Ave Tucson AZ No New Construction % present value No Desert Eagle 6917 N 71st Ave Glendale AZ Not Indicated Not Indicated Desert Palms 210 E Brown Rd Mesa AZ No New Construction % present value No Desert View Apartments 904 N Washington St Coolidge AZ Not Indicated Not Indicated Discovery Point Retirement Apartments 6210 E Arbor Ave Mesa AZ No New Construction % present value No Donna Rahn Lp Iii 414 S 3rd Ave Tucson AZ No Acquisition And Rehab % present value No Douglas Villas Apartments 2700 E 15th St Douglas AZ No New Construction % present value No Eagle Cove Apartments 1856 E Apache Dr Eagar AZ No 2004 $ 510, New Construction % present value No Eagle Eye Village N. Black Eagle Rd., #102b Aguila AZ No New Construction % present value No El Destino 1271 W Frontage Rd Rio Rico AZ Yes 2004 $ 781, New Construction % present value No El Patio Apartments 1347 E Benson Hwy Tucson AZ Acquisition And Rehab Not Indicated Eloy Village Apartments 413 E 1st St Eloy AZ No New Construction % present value No Escala Central City Apartments 3606 E Van Buren St Phoenix AZ No 2005 $ 665, New Construction % present value Yes Escalante Apartments 1106 N Navajo Dr Page AZ No Acquisition And Rehab % present value No Esperanza Senior Apartments 100 S Esperanza Ln Bisbee AZ Yes New Construction % present value No Fairway Manor Apartments 2225 W Lyon Crest Rd Snowflake AZ No 2005 $ 624, New Construction % present value No Faith House A/l/a Prospect Park Apartments 8581 N 61st Ave Glendale AZ Yes New Construction % present value No Family Estates Of Eloy 710 N A St Eloy AZ No Acquisition And Rehab % present value No Family Estates Of Eloy Apartments 701 N A St Eloy AZ Not Indicated Not Indicated Family Estates Of Gila Bend 405 N Capitol Ave Gila Bend AZ No Acquisition And Rehab % present value No Family Estates Of Gila Bend Apartments 405 N Capitol Avenue Gila Bend AZ Not Indicated Not Indicated Farrell Park Apartments 1207 E Drexel Rd Tucson AZ No New Construction % present value No Fillmore Place Apartments 2902 E Fillmore St Phoenix AZ No Acquisition And Rehab % present value No Florence Park 401 E Stewart St Florence AZ No New Construction % present value No Fontana Gardens Apts 320 E Yavapai Rd Tucson AZ Yes New Construction % present value No Fontana Hacienda 306 E Navajo Rd Tucson AZ Yes New Construction % present value No Forest View Apartments Phase I And Ii 3700 S Yaqui Dr Flagstaff AZ No New Construction % present value No Fort Mojave / Aha Macav 4000 Roosevelt Dr Mohave Valley AZ No Both New Construction A Both 30% and 70% No Fox Hill Run N 123rd Dr Surprise AZ No New Construction % present value No Galleria I And Ii Apartments N 60th Ave Glendale AZ No New Construction % present value No Ghost Ranch Lodge 801 W Miracle Mile Tucson AZ Not Indicated Not Indicated Gila River I 232 N Chalmers Ln Thatcher AZ Yes 2004 $ 384, New Construction % present value No Gila River Ii 232 N Chalmers Ln Thatcher AZ Yes New Construction % present value No Ceiling 3

4 Credit Percentage Glenbrook Terrace Apartments (aka Sombra Apartment Homes) 2020 W Glendale Ave Phoenix AZ No Acquisition And Rehab % present value Yes Glendale Lofts 6839 N 63rd Ave Glendale AZ No 2009 $ 756, New Construction % present value No Glenridge Apartment 3475 Mccormick Blvd Bullhead City AZ No New Construction % present value No Glenstone Village 2835 N Stone Ave Tucson AZ No 2008 $ 988, Acquisition And Rehab % AMGI Not Indicated No Gold Rush Apartments Ii 2030 Prospector Ct Bullhead City AZ No New Construction % present value No Gold Rush Phase I 2030 Prospector Ct Bullhead City AZ No New Construction % present value No Grantree Apartments 90 W Old Linden Rd Show AZ No Acquisition And Rehab % present value No Green Valley Apartments 905 S Mclane Rd Payson AZ Yes New Construction % present value No Greenway Cove A.k.a Crystal Pointe Apartments N 32nd St Phoenix AZ No 2004 $ 700, Both New Construction A Both 30% and 70% No Guadalupe Huerta Senior Apartments, Lihtc 7235 S 7th St Phoenix AZ No 2006 $ 62, Acquisition And Rehab % present value Yes Hacienda Fontana Apartments 300 E Navajo Rd Tucson AZ Yes New Construction % present value No Heidel Apartments 327 E 12th St Tucson AZ Acquisition And Rehab Not Indicated Heritage Glen Apartments 1040 N 9th St Coolidge AZ No New Construction % present value No Holbrook Court Apartments 109 Court Ln Holbrook AZ Yes New Construction % present value No Homestead West 40 Rodeo Drive Lakeside AZ Not Indicated Not Indicated Homestead West 40 Rodeo Dr Pinetop AZ No New Construction % present value No Hopi Homes I 10 Kiva Dr Winslow AZ No 2004 $ 238, Both New Construction A Both 30% and 70% No Hotel San Carlos 106 E 1st St Yuma AZ Yes Acquisition And Rehab % present value No Huachuca Triangle 712 N Gonzales Blvd Huachuca City AZ New Construction Not Indicated Indian Wells Apartments 975 S Royal Palm Rd Apache Junction AZ No New Construction % present value No Indigo Pointe 475 N 43rd Ave Phoenix AZ No 2007 $ 771, New Construction % present value No Ironwood Estates 8930 W Monroe St Peoria AZ Yes New Construction % present value No Itom A'e 5424 E Calle Cerritos Guadalupe AZ Yes 2009 $ 933, New Construction % AMGI 70 % present value No Jeddito Town Homes 101 Juniper Circle Keams Canyon AZ Not Indicated Not Indicated Katherine Heights Townhomes Iii 1207 N Power Line Rd Bullhead City AZ Not Indicated 2 2 Not Indicated Kearney Manor C/o Western Mg Po Box 2977 Florence AZ New Construction Not Indicated Kingman Place 1227 Fort Beale Rd Kingman AZ Yes New Construction % present value No La Mariposa Senior Villas 701 E 24th St Yuma AZ No 2004 $ 524, New Construction % present value No La Mirada Apartments 3900 W 22nd Ln Yuma AZ No New Construction % present value No La Palmilla Apartments (formerly Known As Sylmar) 3838 W Camelback Rd Phoenix AZ No Not Indicated % present value Yes La Posada Apartments 1900 W 30th St Yuma AZ $ 1,000, New Construction % present value No La Posada Apartments 6300 S Headley Rd Tucson AZ No New Construction % present value No La Promesa Ii 2485 N Alvernon Way Tucson AZ Not Indicated 23 Not Indicated La Vista Apartments 300 W Gold Hill Rd Nogales AZ Yes 2005 $ 256, New Construction % present value No Laguna Terrace 114 W Laguna St Tucson AZ Acquisition And Rehab Not Indicated Lake Pleasant Village N Lake Pleasant Rd Peoria AZ No Acquisition And Rehab % present value Yes Las Casitas Apartments 541 North Sixth Street San Luis AZ No New Construction % present value No Las Gardenias (bond) 6901 W Mcdowell Rd Phoenix AZ No New Construction % present value Yes Las Montanas Village 6280 S Campbell Ave Tucson AZ No New Construction % present value No Las Palomas 499 S Carmichael Ave Sierra Vista AZ No New Construction % present value No Las Quintas De Adobe Apartments 1600 N. 10th Ave. San Luis AZ No New Construction % present value No Las Villas De Kino 5515 S Forgeus Ave Tucson AZ No New Construction % present value Yes Las Villas De Kino 5515 S Forgeus Ave Tucson AZ No New Construction % present value Yes Las Villas Del Sol 6755 N 83rd Ave Glendale AZ No New Construction % present value No Lenwood Apartments 36 N Pima St Springerville AZ No Acquisition And Rehab % present value No Liberty Cove Apartments 801 N 59th Ave Phoenix AZ No New Construction % present value Yes Loma Mariposa Apartments 1790 N Loma Mariposa Rd Nogales AZ No New Construction % present value No Loma Mariposa Ii 1830 N Loma Mariposa Rd Nogales AZ No New Construction % present value No Loma Verde Apartments (talavera) 1355 W Roger Rd Tucson AZ No Both New Construction A % present value Yes Los Tres Apartments - La Terraza 5333 E Thomas Rd Phoenix AZ Yes 2005 $ 124, Acquisition And Rehab % present value Yes Los Tres Apartments - Melrose Villas 5627 N 16th St Phoenix AZ Yes 2005 $ 106, Acquisition And Rehab % AMGI 30 % present value Yes Ceiling 4

5 Ceiling Credit Percentage Los Tres Apartments - Missouri Crossing 5330 N 17th Ave Phoenix AZ Yes 2005 $ 144, Acquisition And Rehab % present value Yes Lynx Creek Apartments 3241 N Majesty Dr Prescott Valley AZ No 2008 $ 70, Acquisition And Rehab % present value Yes Maddox Estates Townhomes 517 W Alsdorf Rd Eloy AZ Yes New Construction % present value No Madera Peak Vista 1039 E Saguaro Dr Globe AZ $ 951, New Construction % present value No Marana Apartments N Lon Adams Rd Marana AZ Yes New Construction % present value No Marble Canyon Manor 1627 Mohave Dr Bullhead City AZ No New Construction % present value No Maryland Senior Housing 126 W Maryland Ave Phoenix AZ Yes 2004 $ 244, Acquisition And Rehab % present value No Matthew Henson I 840 W Tonto St Phoenix AZ No New Construction % present value No Matthew Henson Iii 840 W Tonto St Phoenix AZ No New Construction % present value No Matthew Henson Iv 840 W Tonto St Phoenix AZ No New Construction % present value No Matthew Henson Senior Apartments 1045 S 8th Ave Phoenix AZ No 2004 $ 881, New Construction % present value No Maurnez Apartments 110 W Airport Rd Payson AZ No New Construction % present value No Mccarty On Monroe 1130 E Monroe St Phoenix AZ No 2007 $ 900, New Construction % present value No Meadowbrook Housing (a.k.a. Coral Canyon Apartments) 4545 N 15th St Phoenix AZ Yes 2005 $ 485, New Construction % present value No Meadows Apartments 250 N 16th Ave Show AZ No New Construction % present value No Memorial Towers 1401 S 7th Ave Phoenix AZ Yes 2004 $ 700, New Construction % present value No Mesa Park Apartments 604 W 8th Ave Mesa AZ Not Indicated Not Indicated Michelle Manor Apartments 1919b N La Canada Dr Green Valley AZ New Construction Not Indicated Midway Manor Apartments 2411 S 6th Ave Tucson AZ No Acquisition And Rehab % present value No Mingus Pointe Apartments 101 S 6th St Cottonwood AZ No New Construction % present value No Mission Antigua Ii Dba Tierra 5525 S Mission Rd Tucson AZ No New Construction % present value No Mission Tierra Apartments 5505 S Mission Rd Tucson AZ Not Indicated Not Indicated Mission Vista Apartments 2455 N Dodge Blvd Tucson AZ Yes New Construction % present value No Mlk 55 N 5th Ave Tucson AZ No New Construction % AMGI 70 % present value No Mount Graham Apartments 2040 S 20th Ave Safford AZ No New Construction % present value No Mountain Crest Apartments 838 Baseline Rd Bullhead City AZ New Construction Not Indicated Mountain Oaks Apartments 150 N 5th St Show AZ No 2006 $ 146, Acquisition And Rehab Both 30% and 70% No Mountain Pointe Apartments, Lihtc 800 E Baffert Dr Nogales AZ Yes New Construction % present value No Mountain Pointe Apartments. Lihtc Phase Ii 800 E Baffert Dr Nogales AZ Yes 2006 $ 903, New Construction % present value No Mountain Shadow 6420 S Camino De La Tierra Tucson AZ No New Construction % present value No Mountain View Terrace Apartments 1901 W Pepper Tree Dr Safford AZ Yes New Construction % present value No Mountain Village Seniors 301 E Mcneil Show AZ No New Construction % present value No Mountainside Village Apartments, Phase N Izabel St Flagstaff AZ No New Construction % present value No Mountainside Village Apartments, Phase I 2251 N Izabel St Flagstaff AZ No New Construction % present value No Moutain Park Apartments 3060 E Show Lake Rd Show AZ No New Construction % present value No Navapai Apartments 8800 E Yavapai Rd Prescott Valley AZ No 2008 $ 60, Acquisition And Rehab % present value Yes Nuestra Senora L.p E Calle Cerritos Guadalupe AZ Yes 2007 $ 900, New Construction % present value No Oakwood Village Apartments 3770 S Yaqui Dr Flagstaff AZ Not Indicated Not Indicated Oakwood Village Apartments Ii 3400 S Kofa Dr Flagstaff AZ Not Indicated Not Indicated Oakwood Village Iii Apartments 3400 S Kofa Dr Flagstaff AZ No 2009 $ 1,190, New Construction % AMGI 70 % present value No Oasis West Apartments (camelback West) 5235 N 43rd Ave Phoenix AZ No Acquisition And Rehab % present value Yes Oracle Apartments 1256 W Neal St Oracle AZ No New Construction % present value No Orchard Estates W Young St Surprise AZ No New Construction % present value No Page Commons 170 N Oak St Gilbert AZ No New Construction % present value No Palm Cove Apartments Phase I And Ii 950 W Main St Mesa AZ No New Construction % present value No Palm Cove I 950 W Main St Mesa AZ Not Indicated Not Indicated Palm Cove Ii 118 N Extension Rd Mesa AZ Not Indicated Not Indicated Palm Oasis 802 N 30th St Phoenix AZ No Acquisition And Rehab % present value No Palm Terrace 555 E Ray Rd Chandler AZ No New Construction % present value No Glendale 6112 N 67th Ave Glendale AZ Yes Acquisition And Rehab % present value No Palms At Mesa 324 S Horne Mesa AZ No Acquisition And Rehab % present value No Papago Palms West 1835 N 51st St Phoenix AZ No New Construction % present value No Paradise Palms I 304 W Southern Ave Phoenix AZ Not Indicated Not Indicated 5

6 Credit Percentage Paradise Palms Ii 250 W Southern Ave Phoenix AZ Yes New Construction % present value Yes Paradise Palms Senior Housing 400 W Southern Ave Phoenix AZ Yes New Construction % present value No Paradise Village Apts 2525 E Aire Libre Ave Phoenix AZ No Acquisition And Rehab % present value No Parkcrest Village 3300 Harrison St Kingman AZ No New Construction % present value No Parkside Group Apts 109 E Brinker Dr Avondale AZ No Acquisition And Rehab Not Indicated No Parkside Terrace 2150 N 4th Ave Tucson AZ No Acquisition And Rehab % present value No Parkview Apartments 1159 Bales Avenue Winlow AZ Not Indicated Not Indicated Parkway Apartments 300 E Cliffs Pkwy Camp Verde AZ No New Construction % present value No Payson Senior Center Apts 311 S Mclane Rd Payson AZ No New Construction % present value No Pecan Tree Manor 102 W 9th Pl Mesa AZ Existing 4 4 Not Indicated Pinal Mountain Apartments 979 E Saguaro Dr Globe AZ New Construction Not Indicated Pinaleno Foothills Apartments 2500 S 17th Ave Safford AZ No 2005 $ 633, New Construction % present value No Pine Creek Villas 35 Slide Rock Rd Sedona AZ New Construction Not Indicated Pinecrest Apartments 801 E Rodeo Rd Williams AZ No Acquisition And Rehab % present value No Pinecrest Apartments (aka Park Glen Aka Hunter's Glen) 2601 W Claremont St Phoenix AZ No Acquisition And Rehab % present value Yes Pinehurst At Flagstaff 1001 N 4th St Flagstaff AZ No 2003 $ 606, New Construction % AMGI 70 % present value No Prescott 1053 Sandretto Dr Prescott AZ No New Construction % present value No Plaza Manuel Ortega N Main St El Mirage AZ Yes New Construction % present value No Pointe Del Sol Apartments 730 W Vogel Ave Phoenix AZ No 2007 $ 539, New Construction % AMGI 30 % present value Yes Ponderosa Meadows 250 N 16th Ave Show AZ Not Indicated Not Indicated Prescott Valley Apartments/dba 3200 N Navajo Dr Prescott Valley AZ New Construction Not Indicated Prescott Valley Plaza Apartments 3250 N Majesty Dr Prescott Valley AZ No New Construction % present value No Quail Run Apartments N 79th Ave Peoria AZ No New Construction % present value No Quilceda Villa Apartments W Bola Dr Surprise AZ No New Construction % present value No Rainbow Apartments 700 W 24th St Yuma AZ Acquisition And Rehab Not Indicated Rainbow Lake Apartments 1921 Rainbow Lake Pl Lakeside AZ Not Indicated 35 4 Not Indicated Rancho Cielo Senior Apartments 3940 W Mcdowell Rd Phoenix AZ No 2005 $ 475, New Construction % present value No Rancho Del Mar 6200 S Campbell Ave Tucson AZ No New Construction % present value No Rancho Del Sol N 87th Ave Peoria AZ No New Construction % present value Yes Rancho Montanas Senior Apartments 4033 S 7th St Phoenix AZ No 2007 $ 966, New Construction % present value No River Bend Apartments W Tennessee Ave Youngtown AZ No New Construction % present value No River Bend Apartments Ii, L.p N 113th Ave Youngtown AZ No New Construction % present value No Roeser Senior Village 454 E Roeser Rd Phoenix AZ Yes New Construction % present value No Roosevelt Historic Housing 801 N 6th Ave Phoenix AZ No New Construction % present value No Rosa Linda Senior Apartments N 87th Ave Peoria AZ No 2006 $ 149, Acquisition And Rehab % present value Yes Rose Terrace I 525 E Harrison Dr Avondale AZ Yes New Construction % present value No Rose Terrace Ii 525 E Harrison Dr Avondale AZ Yes New Construction % present value No Sahara Luna Apartments 1220 N 36th St Phoenix AZ No 2004 $ 490, Both New Construction A Both 30% and 70% No Sahuaro Apartments Associates 510 W Sahuaro St Tucson AZ No Acquisition And Rehab % present value No San Angelin Apartments 1935 S Sunnyvale Mesa AZ No New Construction % present value Yes San Carlos Homes Iii Po Box 740 Peridot AZ No Both New Construction A Both 30% and 70% No San Carlos Homes Iv Po Box 740 Peridot AZ Not Indicated Not Indicated San Clemente Apartments 7640 S Power Rd Gilbert AZ No 2003 $ 686, New Construction % present value Yes San Fernando Apartments 4150 E Main St Mesa AZ No New Construction % present value Yes San Giovanni Apartments 6901 W Mcdowell Rd Phoenix AZ Not Indicated Not Indicated San Jose Triangle 100 Navajo Dr Bisbee AZ New Construction Not Indicated San Lucas Apartments 8701 W Van Buren St Tolleson AZ No New Construction % present value Yes San Martin Apartments 6802 N 67th Ave Glendale AZ No New Construction % present value Yes San Miguel 8915 E Guadalupe Rd Mesa AZ No New Construction % present value Yes San Pedro Apartments 4600 Charleston Rd Sierra Vista AZ No New Construction % present value No San Pedro Terrace Apartments 351 E Pearl St Benson AZ Yes New Construction % present value No San Remo 5755 N 59th Ave Glendale AZ No New Construction % present value Yes Sandstone Highlands Senior Community 300 W High Country Trl Flagstaff AZ No New Construction % present value No Ceiling 6

7 Ceiling Credit Percentage Santa Carolina Apartments 1068 W Paul Dr Nogales AZ No 2005 $ 519, New Construction % AMGI 30 % present value Yes Santa Fe Springs 400 S Denman Ave Sierra Vista AZ No 2008 $ 996, New Construction % AMGI 70 % present value No Santa Rita Apartments 945 W Manor Dr Nogales AZ No New Construction % present value No Scottsdale New Ventura Apartments 980 N Granite Reef Rd Scottsdale AZ No Acquisition And Rehab % present value Yes Senior Cottages Of Apache Junction 251 N 114th St Apache Junction AZ No New Construction % present value No Shadow Creek Ii N 60th Ave Glendale AZ Not Indicated Not Indicated Shalom House 2485 N Alvernon Way Tucson AZ No New Construction % present value No Sharon Manor 2304 N Izabel St Flagstaff AZ Yes New Construction % present value No Sierra Blanca Apartments 126 Willow Lane West Taylor AZ Existing Not Indicated Sierra Verde Apartments 150 N Apache Rd Buckeye AZ New Construction Not Indicated Siesta Pointe Apartments W Buckeye Rd Avondale AZ No New Construction % present value No Silverbell Homes 3007 N Dasylirion Dr Tucson AZ Yes 2005 $ 325, New Construction % present value No Smoketree Apartments 902 E Centre Ave Buckeye AZ Yes New Construction % present value No Somerset Manor Apartments 802 E Oneil Dr Casa Grande AZ No New Construction % present value No Somerset Village 3150 Harrison St Kingman AZ No New Construction % present value No Somerton Apartments (hacienda Manuel Chavez) 500 N Somerton Ave Somerton AZ No New Construction % present value Yes Sonora Vista 9736 E Balsam Ave Mesa AZ No New Construction % present value No Sonora Vista Apartments 1600 Van Buren Ave Douglas AZ No 2004 $ 829, New Construction % present value No Sonora Vista I 9736 E Balsam Ave Mesa AZ Not Indicated Not Indicated Sonora Vista Ii 9736 E Balsam Ave Mesa AZ Not Indicated Not Indicated South Park Hope Vi 1122 E Silverlake Rd Tucson AZ Yes Both New Construction A Both 30% and 70% No Spring Valley Terrace S Spring Ln Mayer AZ Yes New Construction % present value No St. Luke's In The Desert, L.p. 615 E Adams St Tucson AZ Yes Both New Construction A % present value No Steeplechase Apartments 8610 N 91st Ave Peoria AZ No New Construction % present value Yes Sterling Point Apartments Phase Ii 3802 E Baseline Rd Phoenix AZ Not Indicated Not Indicated Sterling Point Phase I And Ii 3802 E Baseline Rd Phoenix AZ No New Construction % present value No Summer Crossings Florida Ave Douglas AZ No New Construction % present value No Sun Crest Apartments 105 N Toscanini Ave Sierra Vista AZ Not Indicated Not Indicated Sundance Apartments 2701 E 6th St Douglas AZ No New Construction % present value No Sungate Villa Ii Senior Community 3870 N Civic Dr Ne Prescott Valley AZ No 2008 $ 1,062, New Construction % present value No Sungate Villa Senior Community 3850 N Civic Dr Ne Prescott Valley AZ No 2005 $ 964, New Construction % present value No Sunrise Vista 4415 S 28th St Phoenix AZ No Acquisition And Rehab % present value Yes Tanner Manor Apartments 2150 E Broadway Rd Phoenix AZ Yes New Construction % present value No Taylor Park Meadow 180 S Highland Dr Taylor AZ No 2004 $ 472, New Construction % present value No Terracina Apartments 1850 S Avenue B Yuma AZ Not Indicated Not Indicated The Crossing At Apache Junction 380 S Phelps Dr Apache Junction AZ No New Construction % present value No The Groves 2990 S Power Rd Mesa AZ Not Indicated Not Indicated The Monroe Street Abbey Apartments 334 W Monroe St Phoenix AZ Yes New Construction % present value No The Village At Cottage Park N Parkview Pl Surprise AZ No New Construction % present value No The Village At Lake Mary Crossing 3400 Lake Mary Rd Flagstaff AZ No New Construction % present value No The Village At Sun Valley 7520 E Billings St Mesa AZ No New Construction % present value Yes Tierra Antigua 339 N 75th St Mesa AZ Not Indicated Not Indicated Tierra Del Cielo Apartments 144 West Brenda Street Somerton AZ Not Indicated Not Indicated Tierra Del Sol 40 E Sunland Ave Phoenix AZ New Construction Not Indicated Timber Trails Apartments 200 W High Country Trl Flagstaff AZ No 2004 $ 844, New Construction % present value No Timberstone Apartments 160 W Cooley St Show AZ No 2005 $ 891, New Construction % present value No Timberstone Apartments Ii 200 W Cooley St Show AZ No 2006 $ 720, New Construction % present value No Tivoli Heights Village, Phase I 3180 Harrison St Kingman AZ Yes 2006 $ 799, New Construction % present value No Tivoli Heights Village, Phase Ii 3170 Harrison St Kingman AZ No 2007 $ 698, New Construction % present value No Town Square Courtyard Homes 5136 W Glenn Dr Glendale AZ No New Construction % present value No Tucson Cabo Del Sol Apartments 5600 S Midvale Park Rd Tucson AZ No New Construction % present value No Tucson House I & Ii 1501 N Oracle Rd Tucson AZ Yes Acquisition And Rehab Both 30% and 70% Yes Umom Family Housing 3330 E Van Buren St Phoenix AZ $ 1,000, New Construction % present value No 7

8 Ceiling Credit Percentage Urban League Manor 4343 W Thomas Rd Phoenix AZ No 2006 $ 900, Acquisition And Rehab % present value No Vah Ki Court Apartments 1050 N 9th St Coolidge AZ Not Indicated Not Indicated Valley View Apartments 3701 N Windsong Dr Prescott Valley AZ No New Construction % present value No Valley View Apartments Ii 3737 N Windsong Dr Prescott Valley AZ No 2005 $ 950, New Construction % present value No Valley View Iapartments Ii 3883 N Windsong Dr Prescott Valley AZ No 2006 $ 983, New Construction % present value No Ventana Estates 9422 E Broadway Rd Mesa AZ No New Construction % present value No Ventana Palms Apartments 7021 W Mcdowell Rd Phoenix AZ New Construction Not Indicated Verde Vista Apartments 1720 E Elm St Cottonwood AZ No New Construction % present value No Villa Del Sol Apartments 750 W Union St Benson AZ No New Construction % present value Yes Villa Nueva Apartments 750 S 15th Ave Yuma AZ No New Construction % present value No Villa Paraiso Apartments 1033 W Mariposa Ranch Rd Nogales AZ No 2006 $ 551, New Construction % present value No Villa Serena Apartments 2351 S 37th Ave Yuma AZ No New Construction % present value No Village Square Apartments N 32nd St Phoenix AZ No Acquisition And Rehab % present value Yes Villas By Mary T. Casa Grande 1576 E Cottonwood Ln Casa Grande AZ Yes New Construction % present value No Villas De Merced / Mercy Housing Arizona I 520 N Mesa Dr Mesa AZ Yes New Construction % present value Yes Villas De Sonora Senior Housing 507 W Alsdorf Rd Eloy AZ No 2005 $ 520, New Construction % present value No Vineyard Estates 915 W Alta Vista Rd Phoenix AZ No New Construction % present value No Vista Del Norte 175 N Skyline Dr Huachuca City AZ No 2005 $ 795, New Construction % present value No Vista Loma Apartments 2367 Merrill Ave Bullhead City AZ No New Construction % present value No Vista Montana Apartments 3225 E Baseline Rd Gilbert AZ New Construction Not Indicated Western Sunrise Villas Phase I And Ii 980 S. Desoto St. Florence AZ New Construction Not Indicated Westward Ho Apartments 618 N Central Ave Phoenix AZ No Acquisition And Rehab % present value Yes Whispering Palms Housing 1650 E Georgia Ave Phoenix AZ Yes Both New Construction A Both 30% and 70% No White Mountain Apache Housing/mcnary Housing Po Box 550 Mcnary AZ Not Indicated Not Indicated Willcox Farmworker Apartments 708 N Arizona Ave Willcox AZ Yes New Construction % present value No Willcox Senior Apartments 457 W Scott St Willcox AZ No New Construction % present value No Willcox Townhomes 804 W Hoch Ln Willcox AZ Yes 2004 $ 444, New Construction % present value No Willow Ridge 1205 Sandretto Dr Prescott AZ New Construction Not Indicated Wings Of Freedom 2425 N Haskell Dr Tucson AZ Yes New Construction % present value No Winslow Crossing 1800 W Fleming St Winslow AZ Yes New Construction % present value No Yavapai Apartments 344 E Yavapai Rd Tucson AZ No Both New Construction A % present value No Yavapai Hacienda Apts 332 E Yavapai Rd Tucson AZ Yes New Construction % present value No Yavapai-apache Nation # W Shaw Ave Camp Verde AZ No Both New Construction A Both 30% and 70% No Yuma Senior Terrace 2317 S 34th Dr Yuma AZ No 2008 $ 1,000, New Construction % present value No 349 Projects Reported $ 46,162,935 30,026 27,101 8