The Development Team is actively working to bring Crenshaw Crossing to fruition. In the last year the Development Team has secured the following milestones that will ensure the feasibility and affordability of this project:

· January 2023: Secured 100 Project Based Vouchers, enhancing the overall feasibility of the project and ensuring affordability

· August 2023: Won approximately $50,000,000 in public funding through the Affordable Housing Sustainable Communities grant (“AHSC”) for Phase 1 of the project

· August 2023: Won an additional approximately $8,000,000 in public funding through the Infill Infrastructure Grant Catalyst (“IIG-C”) program for Phase 2 of the project

· December 2023: Won an additional approximately $10,000,000 in public funding through the Infill Infrastructure Grant (“IIG”) program for Phase 1 of the project

Currently, the Development Team is continuing push forward on the following areas:

· Engaging with potential grocery anchor tenants for Phase 1 of the project.

· Preparing to apply for the Mixed Income Program (“MIP”) through the California Housing Finance Agency in early 2025 to finish capitalizing Phase 1 of the project.

· Preparing to apply for Low Income Housing Tax Credits (“LIHTC”) through the California Tax Credit Allocation Committee in April 2025 to finish capitalizing Phase 1 of the project.

The Development Team is on track to break ground on Phase 1 of the project by the end of 2025.