Housing Commission

Housing Commission Meeting City Hall - Council Chambers November 5, 2025 6:30 PM Agenda PUBLIC NOTICE In accordance with the Statutes of the State of Illinois and the Ordinances of the City of Highland Park, the next regular meeting of the City of Highland Park Housing Commission, the Peers Housing Association, Ravinia Housing Association, and Sunset Woods Association is scheduled to be held at the hour of 6:30 PM on Wednesday, November 5, 2025 and will take place at City Hall, Council Chambers, 1707 St Johns Avenue, Highland Park, Illinois. Individuals with questions or feedback about an agenda item can address the Commission in the following ways: 1. Emails for the Record. Email Planner Zubin Coleman, the Housing Commission staff liaison. If you wish to have your comments read into the record, limit your communication to 200 words or less. Public comments received by 4:30 PM the day of the meeting will be read under Business from the Public. All emails received will be acknowledged at the meeting. Public comments should contain the following information: o In the subject line, identify, “Housing Commission Meeting – Read into the Record” o Name o City o Address (optional) o Phone (optional) o Organization, agency representing, if applicable. o Topic or agenda item number of interest 2. Emails with Unlimited Information. Individuals who do not wish to have their comments read into the record can email Senior Planner Zubin Coleman an unlimited number of words. Emails will be forwarded to the Housing Commission if requested. 3. Telephone. Individuals with no access to email may leave a message with Planner Zubin Coleman at 847.926.1853. 4. Live Comments. Individuals are able to address the Commission during the meeting. Questions/comments are limited to written testimony into the record or spoken comments, not both. Business from the Public is only listed on the Housing Commission Meeting Agenda. Comments should be limited to three minutes or less. The City encourages individuals to sign-up for its enews for important information from the City and its government partners. The City updates its website and social media daily. To sign-up for the enews, visit www.cityhpil.com. Page 1 of 67 The City, in compliance with the Americans with Disabilities Act, requests that persons with disabilities who require certain accommodations to allow them to observe and/or participate in this hearing, or who have questions about the accessibility of the meeting facilities, email the City’s ADA coordinator Emily Taub or call at 847.926.1005 I. Call to Order II. Roll Call III. Business from the Public (Individuals wishing to be heard regarding items not listed on this agenda) IV. Approval of Minutes A. October 10 2025 V. Scheduled Business A. Items for Omnibus Vote Consideration • Payment of Invoices • Ratification of Payments B. Peers, Ravinia, Sunset Woods Associations, and HTF • Consideration of ERES Management Report and Financials • Sunset Woods Financials • Housing Trust Fund (HTF) Financials • Other Association Business VI. Old Business VII. New Business A. Peers & Ravinia updated 5-year Capital Improvement Plan B. Resolution Approving CPAH Operating Grant Q3 Drawdown C. Sunset Woods Insurance Informative Item VIII. Other Business A. Next Housing Commission Meeting, Wednesday, December 3, 2025 IX. Adjournment Page 2 of 67  MINUTES OF A REGULAR MEETING OF HOUSING COMMISSION OF THE CITY OF HIGHLAND PARK, ILLINOIS MEETING DATE: Wednesday, October 8, 2025 MEETING LOCATION: Council Chambers, City Hall, 1707 St. Johns Avenue, Highland Park, IL CALL TO ORDER At 6:30 p.m., Chairperson Fernandez Sykes called an on-site meeting of the Highland Park Housing Commission, Peers Housing Association, Ravinia Housing Association, and the Sunset Woods Association to order. Each of the Commissioners also serves as Directors of each of the Housing Associations. Public comments may be emailed to city@hpil.com or phoned into at 847.432.0867. The City web site is www.cityhpil.com. Staff was asked to call the roll. ROLL CALL Commissioners Present: Chairperson Fernandez Sykes; Commissioners Bernstein, Farris, Gonzalez, Rosen, & Shapiro Kopin Commissioners Absent: Commissioners Beasley Councilmember Present: Tapia Student Council Absent: Posner Staff declared that a quorum was present. Staff Present: Markle Guests Present: Irina Leykin, Regional Property Manager/ERES William Brown, Board Member/Sunset Woods Association Laurie Williams, Founder/CCHI Others Present: Gale Cerabona, Recorder BUSINESS FROM THE PUBLIC There was no Business from the Public. APPROVAL OF MINUTES Regular Meeting of the Housing Commission – September 10, 2025 Commissioner Shapiro Kopin moved to approve the September 10, 2025, regular meeting minutes. Commissioner Farris seconded the motion. On a voice vote: Voting Yea: Chairperson Fernandez Sykes; Commissioners Bernstein, Farris, Gonzalez, Rosen, & Shapiro Kopin Voting Nay: None Page 1 Housing Commission October 8, 2025 Page 3 of 67  MINUTES OF A REGULAR MEETING OF HOUSING COMMISSION OF THE CITY OF HIGHLAND PARK, ILLINOIS Chairperson Fernandez Sykes declared that the motion passed unanimously. SCHEDULED BUSINESS 1. Items for Omnibus Vote Consideration • Payment of Invoices • Ratification of Payments Planner Markle advised there is a $10 payment to the Secretary of State for Ravinia Housing. 2. Peers, Ravinia, Sunset Woods Associations, & Housing Trust Fund • Consideration of ERES Management Report and Financials Ms. Leykin stated budgets are finalized. Peers Ms. Leykin shared the HUD audit results were satisfactory. Ravinia Ms. Leykin reminded funds would not be replaced in reserves for roof replacement. There is one vacant unit which is being prepared. Commissioner Bernstein said she never saw a HUD repayment plan. Ms. Leykin advised HUD was paying more of a subsidy portion. Commissioner Shapiro Kopin asked about two evictions. Ms. Leykin said an agreement was submitted to pay in full by a certain date. That date passed, so that unit is available. For the other tenant/unit, there will be no bad debt. • Sunset Woods Financials Mr. William Brown, Board Member, spoke on behalf of and read the Treasurer’s comments, and copies were distributed (unique hybrid; 14 rentals, 46 owner-occupied units, excellently maintained). They appeal regarding insurance costs which increased 134%. As it was stated 14 units are affordable, they became ineligible. The alleged reason for the increase was due to 14 units being owned by the City of Highland Park. Owners are having to fund this which creates risk. The deductible is $25,000 per claim. Mr. Brown said the Sunset Woods Association Board is requesting that the City of Highland Park pay its fair share. Reimbursements were shared ($12,811 for 2025). He noted a solution is requested for the future, and the Board wishes to move forward with the City of Highland Park. • Housing Trust Fund (HTF) Financials Page 2 Housing Commission October 8, 2025 Page 4 of 67  MINUTES OF A REGULAR MEETING OF HOUSING COMMISSION OF THE CITY OF HIGHLAND PARK, ILLINOIS Commissioner Bernstein asked if there is any update. Planner Markle will deter to Senior Planner Coleman, and advised Accounting is a bit behind. • Other Association Business Planner Markle advised there is nothing outstanding. OLD BUSINESS 1. Amendment to Final Inclusionary Housing Application for Townhome Development at 1700 Old Deerfield Road (former Solo Cup site) Planner Coleman reviewed the amendment: • October 8, 2025, HC Regular Meeting Second Amendment to Final Inclusionary Housing Plan o 227-unit townhome development • Calculation of Units Required o 34 inclusionary units • Amended Matrix • Relief Requested (HC Recommendations) • HC Action Commissioner Gonzalez noted a typo on Page 8. Planner Markle will correct same. Commissioner Farris moved to recommend approval to City Council of the Final Inclusionary Plan for 34 inclusionary units and these departures from code: *location of units dispersed throughout the development – 150.2150(A) *bedroom unit proportional mix – 150.2150 (E)(1) and recommendation of approval to the PDC and City Council for: *$185,000 payment-in-lieu for the 1 full required inclusionary unit not provided on-site *proportion structure to allow unspecified number of rental vs. for-sale units *relief for AMI requirement for rental inclusionary units to allow 1/3 of units to be at 45% AMI, 2/3 of units at 60% AMI, and none at 100% AMI Commissioner Bernstein seconded the motion. On a roll call vote Voting Yea: Chairperson Fernandez Sykes; Commissioners Bernstein, Farris, Gonzalez, Rosen, & Shapiro Kopin Voting Nay: None Chairperson Fernandez Sykes declared that the motion passed unanimously. 2. Resolution Approving a Grant Agreement Between the Housing Commission and The Collaborative Community Housing Initiative/CCHI in partnership with the Housing Opportunity Development Corporation/HODC, for Affordable Housing for Adults with Disabilities at 1651 Richfield Avenue Page 3 Housing Commission October 8, 2025 Page 5 of 67  MINUTES OF A REGULAR MEETING OF HOUSING COMMISSION OF THE CITY OF HIGHLAND PARK, ILLINOIS Planner Markle noted the Grant Agreement, when presented to City Council, didn’t specify square footage of units (the Grant Agreement before the HC specifies 365 square feet). They advised the HC should consider if this floor area is adequate. This consideration was delegated to the HC by City Council. Planner Markle advised the HC should also consider or indicate if specific unit numbers and locations should be tied to the grant. Planner Markle said this is not required per code, as this is not an inclusionary housing review. Commissioner Shapiro Kopin asked if there is information on square footage of affordable units and market-rate units. Ms. Williams with CCHI said the sizes are all the same. Planner Markle provided a unit matrix with all unit types and sizes. Commissioner Bernstein asked how the units are dispersed. Ms. Williams replied there is one on the first floor and two on the second floor, etc. Commissioner Shapiro Kopin asked how it is guaranteed that affordable units would remain in perpetuity. Ms. Williams responded as it is a coop, the owner has a clause in all documents as well as the grant agreement; same modification and subsidy; goes with the unit. Planner Markle said Staff spoke with Corporation Counsel, and they are comfortable with the HC signing the document as is or with an amendment. The Applicant would submit updated Grant Agreement exhibits if the HC required an amendment. Planner Markle restated City Council has not seen the unit sizes and this consideration has been delegated to the HC. Ms. Williams stated, if someone selected another unit, they would want them to have that opportunity; may not want to limit it further. Commissioner Rosen is in favor of an assurance that these affordable units would be in perpetuity. Planner Markle said Corporation Counsel advised perpetuity is not in jeopardy in any way. Commissioner Farris said she is glad Corporation Counsel has no issues. Commissioner Bernstein asked if: • renovations would begin this month. Ms. Williams said the roof has been replaced. Interiors will be renovated in October, 2025. • HODC has obtained public support for more units. Ms. Williams said yes, from Lake County. Commissioner Rosen moved to approve the Grant Agreement, and that the floor area is acceptable. Commissioner Shapiro Kopin seconded the motion. On a roll call vote Voting Yea: Chairperson Fernandez Sykes; Commissioners Bernstein, Farris, Gonzalez, Rosen, & Shapiro Kopin Voting Nay: None Chairperson Fernandez Sykes declared that the motion passed unanimously. Page 4 Housing Commission October 8, 2025 Page 6 of 67  MINUTES OF A REGULAR MEETING OF HOUSING COMMISSION OF THE CITY OF HIGHLAND PARK, ILLINOIS 3. Resolution Approving 2026 Housing Commission Regular Meeting Schedule Planner Markle advised the HC meeting in April, 2026, is on a Monday rather than on a Wednesday. Commissioner Rosen moved to approve the Resolution for the 2026 HC Regular Meeting Schedule. Commissioner Farris seconded the motion. On a roll call vote Voting Yea: Chairperson Fernandez Sykes; Commissioners Bernstein, Farris, Gonzalez, Rosen, & Shapiro Kopin Voting Nay: None Senior Planner Markle declared that the motion passed unanimously. NEW BUSINESS There was no New Business. OTHER BUSINESS 1. 2026 Housing Commission Workplan Planner Markle asked for any feedback. Commissioner Shapiro Kopin asked about any new developments. Planner Markle said there are no new applications at this time. They shared there is a pre-application in process. Commissioner Gonzalez noted a typo of his last name. He asked how the amounts are calculated. Planner Markle deferred to Senior Planner Coleman. 2. Next Housing Commission Meeting, Wednesday, November 5, 2025 Chairperson Fernandez Sykes asked a procedural question about Sunset Woods. Planner Markle said the HC doesn’t need to take action at this time. Councilperson Tapia advised the Park District meeting overlaps with this HC meeting. He asked if there is an item on the agenda where the HC would like him to be present for, to please let him know and place that agenda item at the end of the meeting, so he can juggle both meetings better. ADJOURNMENT Commissioner Rosen adjourned the meeting at 7:13 p.m. On a voice vote Voting Yea: Chairperson Fernandez Sykes; Commissioners Bernstein, Farris, Gonzalez, Rosen, & Shapiro Kopin Voting Nay: None Respectfully Submitted, Page 5 Housing Commission October 8, 2025 Page 7 of 67  MINUTES OF A REGULAR MEETING OF HOUSING COMMISSION OF THE CITY OF HIGHLAND PARK, ILLINOIS Gale Cerabona Recorder MINUTES OF A REGULAR MEETING ON SEPTEMBER 10, 2025, WERE APPROVED WITHOUT CORRECTIONS. Page 6 Housing Commission October 8, 2025 Page 8 of 67  MEMORANDUM TO: Highland Park Housing Commission FROM: Irina Leykin and Harold Eich RE: October 2025 Management Report and September 2025 Financials DATE: October 31, 2025 FRANK B. PEERS Operations • Common area carpets replaced in stairwells. Completed tree trimming around the property. • Sprinkler system has been winterized. • Received an estimate for $26,500 for sewer pipe repairs from Kelsey Mechanical. Management is requesting approval to proceed with repairs. • Installed FireBot fire suppression devices in all units. Occupancy • At present, there are no vacancies. Financial • Net Operating Income (NOI) in September was positive to budget by $1,241.86 MTD and YTD NOI was positive to budget by $14,432.85. Cash carry over was at $1,196,215.25. • Debt Service Coverage Ratio for September was 2.28. Income • Income was negative to budget MTD by ($371.11) and negative ($5,437.36) YTD. Expense • Expense line items which were significantly over budget (more than $1,000 YTD) include: o Vacancy loss – YTD due to a high (5) unit turnover rate. o Legal expense – YTD variance due to Union complaint for the previous periods when the property didn’t have maintenance. Fees were still due to the Union. o Bad debts – YTD variance due to former tenant balance write off. o Temp maintenance contractor – MTD & YTD variance due to employing temporary maintenance while staff is on leave from May until August. The account is partially offset by positive variance in Repairs payroll account. o Union benefits – YTD variance due to 2024 fees paid in 2025. o Miscellaneous repair contractors –YTD variance due to irrigation repairs and 2024 invoice for preventative maintenance of entrance system. o Security Contractor - Variance due to FireWatch service expenses while the fire panel was disabled. 566 Lake Street, Suite 400 Phone: 312-234-9400 Chicago, IL 60661 Fax: 312-382-3220 Page 9 of 67  Page 2 o Repair and Maintenance Supplies – YTD variance due to replacement of faucets, cartridges revealed during internal inspection. The account is offset by positive variance in Plumbing account as most works are completed in-house. o HVAC – YTD variance due to major repairs to Boiler#2; frozen pipe repair; replaced fan motor on roof unit; condenser replacement for the elevator cooling system. o Fire protection – MTD variance is due to costs $2377 to repair fire panel. o Decorating (unit turns) – YTD variance due to more unit turns than budgeted, doors and floorings required replacement, painting. o Carpet and tyle – YTD variance due to 6 units requiring replacement and hallway replacement after water damage. o Property and liability insurance - Wind insurance wasn't part of budget. Wind insurance overlapped with timing from 2024-2025 vs 2025-2026. In 2024-2025 Wind insurance started from October vs in 2025-2026 it started from August 2025. Social Programming • Yoga class on Thursdays. • Social Services Coordinator works 2 days a week to assist residents of Frank B Peers Senior Housing. RAVINIA HOUSING Operations • One unit is vacant and being prepared for rental. • We completed one eviction this month. Occupancy • At present, there is one vacancy. Financial • Net Operating Income (NOI) in September was negative to budget by ($13,560.44) MTD and YTD NOI was negative to budget by ($28,860.73). Cash carry over was at $21,815.72. • Debt Service Coverage Ratio for September was (0.20). Income • Income was negative to budget MTD by ($667.40) and negative to budget by ($1,897.11) YTD. Expense • Expense line items which were significantly over budget (more than $1,000 YTD) include: Legal expense – MTD and YTD due to 2 evictions. o Consulting/study costs – YTD negative variance due processing invoice for 2024 for Lead risk assessment. o Miscellaneous administrative expenses – YTD hotel charges for relocating a tenant that required replacement of bathtub. Evergreen Real Estate Group Page 10 of 67  Page 3 o Temp maintenance contractor - MTD & YTD variance due to employing temporary maintenance while staff is on leave from May until August. The account is partially offset by positive variance in Repairs payroll account. o Miscellaneous repair contractors –YTD due to lead abatement at St. Johns. o Water – YTD negative variance due to underground water leak at 2755 St. Johns, the property paid water bills until pipe replacement. o HVAC – YTD due to condenser motor replacement at Pleasant. o Plumbing repairs – YTD negative variance due to laundry drain line being clogged at 747 Pleasant Avenue, pump pit. o Capital expenditures – YTD negative variance due to furnace and pit pumps replacement, fire bots deposit. o Bath rehab – YTD negative variance due to urgent bath restoration due to leak at St. Johns. The tenant was placed in a hotel for 5 days while bathtub was scheduled to be replaced. Evergreen Real Estate Group Page 11 of 67  Accounts Receivable Update September 2025 Frank B. Peers (68 units) Tenant A/R increased from $160.15 at the end of August to $469.97 at the end of September. Subsidy A/R decreased from $3,324.00 at the end of August to $173.00 at the end of September. Tenant delinquency includes: Current delinquency: $181 (7 tenants) One tenant is on payment plan. Ravinia Housing (17 units) Tenant A/R decreased from $6,990.80 at the end of August to $5,265.81 at the end of September. Subsidy A/R increased from $86.00 at the end of August to $917.00 at the end of September. Tenant delinquency includes: Current delinquency: $675 (7 tenants) 30-day delinquency: $273 (2 tenants) 60-day delinquency: $70 (2 tenants) 90+ days delinquency: $175 (1 tenant) 2 tenants have HUD repayment plans **Note** These charges fluctuate from month to month. If a resident pays rent late or not at all, it causes the Tenant A/R to increase the following month. With regard to the subsidy A/R, we request the rent from HUD, 1 month in advance. For Example: On July 1st, we send our HAP/Voucher subsidy request to HUD, for the month of June. Because of this, activities like move-ins, move-outs or certifications, will affect the subsidy A/R balance; causing it to increase or decrease. Tenants that have entered into repayment agreements would create A/R balances for either the tenant or subsidy ledgers as well, as the property is required to pay back the incorrect amount received by HUD due to the error, and then collect that amount directly from the resident as part of their repayment agreement. Page 12 of 67  FRANK B. PEERS HOUSING Balance Sheet Month Ending Month Ending Month Ending 07/31/25 08/31/25 09/30/25 Actual Actual ASSETS Current Assets 1110-0000 - Petty Cash 200.00 200.00 200.00 1121-0000 - Cash - Operating 1,235,719.04 1,158,982.58 1,196,215.25 1130-0000 - Tenant/member accounts receivable 197.09 160.15 469.97 1131-0000 - Accounts receivable - subsidy 4,064.00 3,324.00 173.00 1240-0000 - Prepaid property and liability insurance 2,205.47 105,132.79 95,531.14 Total Current Assets 1,242,385.60 1,267,799.52 1,292,589.36 Other Assets 1290-0000 - Misc Prepaid Expenses 611.52 666.69 721.86 1192-0000 - Tenant Sec Dep 33,432.02 33,730.70 33,743.65 1310-0000 - Real estate tax escrow 21,485.02 21,485.02 21,485.02 1311-0000 - Insurance escrow 52,756.92 57,809.80 62,862.68 1330-0000 - Debt Service Escrow 165,690.56 165,690.56 165,690.56 1140-0000 - Accounts Receivable - Other 14,974.14 14,974.14 14,974.14 1320 - Replacement Reserve 218,118.33 220,118.33 222,118.33 1340 - Residual Receipt 15,523.66 15,523.66 15,523.66 Total Other Assets 522,592.17 529,998.90 537,119.90 Fixed Assets 1420-0000 - Building 1,796,875.15 1,796,875.15 1,796,875.15 1420-0001 - Building Improvements 2,333,053.52 2,333,053.52 2,333,053.52 1430-0000 - Land Improvements 1,535,414.79 1,535,414.79 1,535,414.79 1440-0000 - Building Equipment Portable 189,686.00 189,686.00 189,686.00 1450-0000 - Furniture for project/tenant use 753,283.40 753,283.40 753,283.40 1497-0000 - Site improvements 363,370.04 363,370.04 363,370.04 4120-0000 - Accum depr - buildings (4,915,281.03) (4,915,281.03) (4,915,281.03) 1498-0000 - Current F/A 26,650.36 27,294.59 34,685.59 Total Fixed Assets 2,083,052.23 2,083,696.46 2,091,087.46 Financing Costs 1900-0001 - Deferred Financing Costs 192,398.85 192,398.85 192,398.85 1999-0000 - Accum Amort - Bond Costs (153,575.22) (153,575.22) (153,575.22) Total Financing Costs 38,823.63 38,823.63 38,823.63 Partnership Assets 1701-0000 - Cash - Partnership 14,844.86 14,844.86 14,844.86 1703-0000 - Partnership Receivable 45,681.19 45,681.19 45,681.19 Total Partnership Assets 60,526.05 60,526.05 60,526.05 Page 13 of 67  FRANK B. PEERS HOUSING Balance Sheet Month Ending Month Ending Month Ending 07/31/25 08/31/25 09/30/25 Actual Actual 1702 Partnership MM 1702-0000 - Partnership MM 94.34 94.34 748.48 Total 1702 Partnership MM 1,076,610.86 1,076,705.20 1,077,453.68 Total Assets 5,023,990.54 5,057,549.76 5,097,600.08 Page 14 of 67  FRANK B. PEERS HOUSING Balance Sheet Month Ending Month Ending Month Ending 07/31/25 08/31/25 09/30/25 Actual Actual Liabilities & Equity Current Liabilities 2110-0000 - Accounts payable 10,708.83 9,756.20 7,821.81 2114-0000 - 401K Payable 280.67 280.67 280.67 2120-0000 - Accrued wages and p/r taxes payable 5,773.64 5,773.64 5,773.64 2130-0000 - Accrued interest - mortgage 11,659.59 11,589.09 11,518.24 2180-0000 - Misc current liabilities 12,205.45 13,634.73 16,217.79 Total Current Liabilities 40,628.18 41,034.33 41,612.15 Non-Current Liabilities 2320-0000 - Mortgage Payable (long term) 131,369.07 117,057.80 102,676.03 2190-0000 - Misc Clearing 545.53 545.53 545.53 2191-0000 - Security deposits-residential 22,196.00 22,474.00 22,256.00 2191-0001 - Pet Deposit 900.00 900.00 900.00 2210-0000 - Prepaid Rent 449.63 294.68 658.82 2211-0000 - Prepaid HUD 19,013.00 13,019.00 14,275.00 2320-1000 - Mortgage payable - 2nd note 2,290,000.00 2,290,000.00 2,290,000.00 Total Non-Current Liabilities 2,464,473.23 2,444,291.01 2,431,311.38 Owner's Equity 3100-0000 - Limited Partners Equity 2,370,665.90 2,370,665.90 2,370,665.90 3209-0000 - Prior Year Retained Earnings (183,281.23) (183,281.23) (183,281.23) 3210-0000 - Retained earnings 279,830.52 331,504.46 384,839.75 Current Month Earnings 51,673.94 53,335.29 52,452.13 Total Owner's Equity 2,518,889.13 2,572,224.42 2,624,676.55 Total Liability & Owner Equity 5,023,990.54 5,057,549.76 5,097,600.08 Page 15 of 67  FRANK B. PEERS HOUSING Actual vs Budget Accrual Operating Statement Month Ending Year To Date Year Ending 09/30/25 09/30/25 12/31/25 Actual Budget Variance Actual Budget Variance Annual Budget GROSS OPERATING INCOME RESIDENTIAL RENTAL INCOME 5120-0000 - Apartment rent 22,391.00 121,710.00 (99,319.00) 199,877.00 1,095,390.00 (895,513.00) 1,460,520.00 5121-0000 - Tenant assistant payments 99,319.00 0.00 99,319.00 895,513.00 0.00 895,513.00 0.00 5140-0000 - Commercial base rent 60.00 60.00 0.00 540.00 540.00 0.00 720.00 TOTAL RESIDENTIAL RENTAL INCOME 121,770.00 121,770.00 0.00 1,095,930.00 1,095,930.00 0.00 1,461,240.00 VACANCIES & ADJUSTMENTS 5220-0000 - Vacancy loss - apartments (1,162.00) (917.00) (245.00) (11,282.00) (8,253.00) (3,029.00) (11,004.00) 5123-3000 - Loss To Lease (253.00) 0.00 (253.00) (2,282.00) 0.00 (2,282.00) 0.00 TOTAL VACANCIES & ADJUSTMENTS (1,415.00) (917.00) (498.00) (13,564.00) (8,253.00) (5,311.00) (11,004.00) OTHER INCOME 5910-0000 - Laundry income 0.00 166.67 (166.67) 1,348.65 1,500.03 (151.38) 2,000.04 5920-0000 - Nsf check fee 0.00 0.00 0.00 75.00 0.00 75.00 0.00 5922-0000 - Late fees 0.00 10.00 (10.00) 7.00 90.00 (83.00) 120.00 5938-0000 - Cleaning Fee/Turnover (26.01) 0.00 (26.01) 47.00 0.00 47.00 0.00 5945-0000 - Damages 0.00 0.00 0.00 736.00 0.00 736.00 0.00 5980-0000 - Administrative Fees 0.00 0.00 0.00 (35.00) 0.00 (35.00) 0.00 5990-0000 - Misc other income 326.62 0.00 326.62 2,573.54 0.00 2,573.54 0.00 5410-0000 - Interest Income Project Operations 2.95 0.00 2.95 24.12 0.00 24.12 0.00 5413-0000 - Interest income - escrow 0.00 0.00 0.00 13,879.73 17,192.37 (3,312.64) 22,923.16 TOTAL OTHER INCOME 303.56 176.67 126.89 18,656.04 18,782.40 (126.36) 25,043.20 GROSS OPERATING INCOME 120,658.56 121,029.67 (371.11) 1,101,022.04 1,106,459.40 (5,437.36) 1,475,279.20 ADVERTISING & RENTING EXPENSE 6211-0000 - Marketing/Promotions/Advertising 0.00 50.00 50.00 427.72 1,020.00 592.28 1,170.00 6253-0000 - Credit Report Fees 0.00 34.00 34.00 179.00 306.00 127.00 408.00 TOTAL ADVERTISING & RENTING EXPENSE 0.00 84.00 84.00 606.72 1,326.00 719.28 1,578.00 ADMINISTRATIVE EXPENSE 6311-0000 - Office supplies 422.96 316.00 (106.96) 2,016.52 2,844.00 827.48 3,792.00 6316-0000 - Office Equipment 438.70 455.00 16.30 3,581.20 4,095.00 513.80 5,460.00 6320-0000 - Management fee 6,506.08 6,471.75 (34.33) 56,707.20 58,245.75 1,538.55 77,661.00 6340-0000 - Legal Expense - Project 0.00 0.00 0.00 3,614.44 0.00 (3,614.44) 0.00 6350-0000 - Audit Expense 2,340.00 0.00 (2,340.00) 11,310.00 17,900.00 6,590.00 17,900.00 6352-0000 - Computer Fees 0.00 0.00 0.00 (1,204.25) 0.00 1,204.25 0.00 6360-0000 - Telephone/Internet/Cable/Cellphones 929.20 1,875.00 945.80 6,082.83 16,875.00 10,792.17 22,500.00 6360-0001 - Answering Service/ Pagers 0.00 41.67 41.67 745.33 375.03 (370.30) 500.04 6365-0000 - Training & Education Expense 0.00 0.00 0.00 783.74 2,200.00 1,416.26 2,200.00 6370-0000 - Bad debts 0.00 0.00 0.00 2,944.95 1,200.00 (1,744.95) 1,600.00 6371-0000 - Fees Dues & Contributions 0.00 0.00 0.00 1,241.20 1,800.00 558.80 1,800.00 6380-0000 - Consulting/study costs 0.00 0.00 0.00 378.00 3,000.00 2,622.00 3,000.00 6390-0000 - Misc administrative expenses 243.95 190.00 (53.95) 3,235.00 1,710.00 (1,525.00) 2,280.00 6391-0000 - Property Management Software Fees 364.49 135.00 (229.49) 3,054.99 1,205.00 (1,849.99) 1,610.00 6392-0000 - Computer Supplies/Data Processing 42.69 100.00 57.31 528.63 400.00 (128.63) 500.00 6395-0000 - Tenant Retention 0.00 400.00 400.00 93.70 3,600.00 3,506.30 4,800.00 6431-0000 - Travel & Expense Reimbursement 0.00 150.00 150.00 334.57 500.00 165.43 600.00 Page 16 of 67  FRANK B. PEERS HOUSING Actual vs Budget Accrual Operating Statement Month Ending Year To Date Year Ending 09/30/25 09/30/25 12/31/25 Actual Budget Variance Actual Budget Variance Annual Budget 6851-0000 - Bank Service Fees 0.00 17.00 17.00 45.29 153.00 107.71 204.00 6860-0000 - Security Deposit Interest 0.06 6.00 5.94 0.79 50.00 49.21 68.00 TOTAL ADMINISTRATIVE EXPENSE 11,288.13 10,157.42 (1,130.71) 95,494.13 116,152.78 20,658.65 146,475.04 PAYROLL & RELATED COSTS 6310-0000 - Office salaries 7,321.30 7,157.00 (164.30) 69,262.43 67,992.00 (1,270.43) 93,042.00 6491-0000 - Temp Maintenance Contractor 0.00 0.00 0.00 13,358.51 0.00 (13,358.51) 0.00 6510-0000 - Janitor and cleaning payroll 2,782.25 2,831.00 48.75 28,417.14 26,894.00 (1,523.14) 36,802.00 6540-0000 - Repairs payroll 2,413.96 3,658.00 1,244.04 26,603.67 34,750.00 8,146.33 47,552.00 6900-0000 - Social Service Coordinator 2,142.19 2,620.75 478.56 12,381.01 23,586.75 11,205.74 31,449.00 6715-0000 - Payroll Taxes 1,032.64 1,047.00 14.36 11,838.04 11,911.00 72.96 15,614.00 6722-0000 - Workers compensation 295.83 607.00 311.17 3,430.23 5,298.00 1,867.77 7,119.00 6723-0000 - Employee Health Ins/Other Benefits 424.63 772.00 347.37 8,204.09 6,890.00 (1,314.09) 9,286.00 6724-0000 - Union Benefits 5,253.98 2,341.58 (2,912.40) 26,630.06 21,074.22 (5,555.84) 28,098.96 6726-0001 - Contingency 0.00 0.00 0.00 3,600.00 3,600.00 0.00 4,080.00 TOTAL PAYROLL & RELATED COSTS 21,666.78 21,034.33 (632.45) 203,725.18 201,995.97 (1,729.21) 273,042.96 OPERATING EXPENSES 6515-0000 - Janitors and cleaning supplies 236.00 283.00 47.00 2,542.59 2,547.00 4.41 3,396.00 6518-0000 - Uniforms 0.00 0.00 0.00 0.00 500.00 500.00 1,000.00 6519-0000 - Exterminating Contract 127.00 146.00 19.00 1,068.00 1,314.00 246.00 1,752.00 6520-0000 - Miscellaneous Repair Contractors 0.00 833.33 833.33 16,514.97 7,499.97 (9,015.00) 9,999.96 6525-0000 - Rubbish removal 811.09 550.00 (261.09) 6,180.47 4,950.00 (1,230.47) 6,600.00 TOTAL OPERATING EXPENSES 1,174.09 1,812.33 638.24 26,306.03 16,810.97 (9,495.06) 22,747.96 UTILITIES 6450-0000 - Electricity 1,419.39 1,720.00 300.61 13,804.97 15,370.00 1,565.03 20,490.00 6451-0000 - Water & Sewer 2,203.80 2,782.50 578.70 18,624.91 25,042.50 6,417.59 33,390.00 6452-0000 - Gas 726.97 2,500.00 1,773.03 17,458.63 21,300.00 3,841.37 31,300.00 TOTAL UTILITIES 4,350.16 7,002.50 2,652.34 49,888.51 61,712.50 11,823.99 85,180.00 MAINTENANCE EXPENSES 6530-0100 - Security Contractor 0.00 0.00 0.00 4,303.75 0.00 (4,303.75) 0.00 6530-0200 - Security Services 93.61 0.00 (93.61) 280.83 0.00 (280.83) 0.00 6536-0000 - Ground supplies & Equipment Repairs 0.00 500.00 500.00 682.58 1,000.00 317.42 1,000.00 6537-0000 - Grounds Contractor (Landscaper) 730.75 800.00 69.25 4,325.15 8,800.00 4,474.85 11,000.00 6541-0000 - Repair & Maintenance Supplies 562.83 875.00 312.17 13,241.24 7,875.00 (5,366.24) 10,500.00 6545-0000 - Elevator Contractor (Annual Maintenance Con- 447.11 450.00 2.89 5,173.93 5,050.00 (123.93) 7,400.00 tract) 6546-0000 - Heating/Cooling/Boiler Contract Repair & Sup- 1,409.79 1,833.33 423.54 20,445.32 16,499.97 (3,945.35) 21,999.96 plies 6548-0000 - Snow removal 2,966.25 500.00 (2,466.25) 5,932.50 3,467.00 (2,465.50) 12,368.00 6560-0000 - Decorating (Tenant Pntg-Cycle/Turnover by 650.00 0.00 (650.00) 8,281.52 5,800.00 (2,481.52) 5,800.00 Contractor) 6560-0001 - Decorating (Common areas - by Contractor) 0.00 0.00 0.00 1,500.00 1,500.00 0.00 3,000.00 6563-0000 - Window Covering 25.21 150.00 124.79 623.43 450.00 (173.43) 600.00 6581-0000 - Window Washing 0.00 0.00 0.00 0.00 2,700.00 2,700.00 2,700.00 6582-0000 - Fire Protection & Fire Equipment 0.00 0.00 0.00 14,406.56 16,500.00 2,093.44 16,500.00 6595-0000 - Plumbing Repairs 377.00 1,666.67 1,289.67 3,170.35 15,000.03 11,829.68 20,000.04 6596-0000 - Floor Repairs/Cleaning 1,591.83 900.00 (691.83) 1,591.83 1,800.00 208.17 1,800.00 6598-0000 - Roof Repairs 0.00 0.00 0.00 250.00 250.00 0.00 250.00 TOTAL MAINTENANCE EXPENSES 8,854.38 7,675.00 (1,179.38) 84,208.99 86,692.00 2,483.01 114,918.00 Page 17 of 67  FRANK B. PEERS HOUSING Actual vs Budget Accrual Operating Statement Month Ending Year To Date Year Ending 09/30/25 09/30/25 12/31/25 Actual Budget Variance Actual Budget Variance Annual Budget TAXES AND INSURANCE 6720-0000 - Property and liability insurance 9,601.65 10,782.58 1,180.93 94,820.66 90,230.19 (4,590.47) 122,577.93 TOTAL TAXES AND INSURANCE 9,601.65 10,782.58 1,180.93 94,820.66 90,230.19 (4,590.47) 122,577.93 TOTAL OPERATING EXPENSES 56,935.19 58,548.16 1,612.97 555,050.22 574,920.41 19,870.19 766,519.89 NET OPERATING INCOME (LOSS) 63,723.37 62,481.51 1,241.86 545,971.82 531,538.99 14,432.83 708,759.31 FINANCIAL EXPENSES 6820-0000 - Mortgage interest 11,518.25 11,518.25 0.00 106,185.77 106,185.77 0.00 140,311.95 6850-0000 - Mortgage Service Fee 501.47 501.47 0.00 4,619.33 4,619.35 0.02 6,105.72 TOTAL FINANCIAL EXPENSES 12,019.72 12,019.72 0.00 110,805.10 110,805.12 0.02 146,417.67 NET OPER INC/(LOSS) BEFORE CAP. EXP. 51,703.65 50,461.79 1,241.86 435,166.72 420,733.87 14,432.85 562,341.64 Partnership Income 8005-0000 - Mortgagor Entity Income 748.48 0.00 748.48 2,785.16 0.00 2,785.16 0.00 8010-0000 - Other Entity Expense 0.00 0.00 0.00 (660.00) 0.00 (660.00) 0.00 Total Partnership Activity 748.48 0.00 748.48 2,125.16 0.00 2,125.16 0.00 NET INCOME (LOSS) 52,452.13 50,461.79 1,990.34 437,291.88 420,733.87 16,558.01 562,341.64 Cash Flow - Financing Activities 7104-0000 - Replacement Reserve 2,000.00 2,000.00 0.00 18,000.00 18,000.00 0.00 24,000.00 7108-0000 - Mortgage Payable (long term) 14,381.77 14,381.77 0.00 126,926.79 126,926.80 0.01 170,498.59 Total Cash Flow - Financing Activities 16,381.77 16,381.77 0.00 144,926.79 144,926.80 0.01 194,498.59 CAPITAL EXPENDITURES & ESCROWS 6991-0000 - Capital expenditures 7,391.00 0.00 (7,391.00) 15,088.00 16,800.00 1,712.00 16,800.00 6991-0005 - Bath - Rehab 0.00 0.00 0.00 5,900.00 6,000.00 100.00 6,000.00 6991-0032 - Elevator 0.00 0.00 0.00 190.00 0.00 (190.00) 0.00 6993-0001 - Appliances 0.00 2,000.00 2,000.00 3,387.99 5,000.00 1,612.01 5,000.00 6994-0000 - Carpet & tile 0.00 0.00 0.00 10,119.60 3,500.00 (6,619.60) 5,500.00 TOTAL CAPITAL EXPENDITURES & ESCROWS 7,391.00 2,000.00 (5,391.00) 34,685.59 31,300.00 (3,385.59) 33,300.00 GAIN/(LOSS) AFTER CAPITAL EXP. & ESCROWS 28,679.36 32,080.02 (3,400.66) 257,679.50 244,507.07 13,172.43 334,543.05 Debt Service Coverage Ratio 2.28 2.24 0.04 2.17 2.12 0.05 2.12 Page 18 of 67  RAVINIA HOUSING Balance Sheet Month Ending Month Ending Month Ending 07/31/25 08/31/25 09/30/25 Actual Actual ASSETS Current Assets 1110-0000 - Petty Cash 628.40 628.40 628.40 1121-0000 - Cash - Operating 8,618.89 25,545.89 21,815.72 1130-0000 - Tenant/member accounts receivable 6,745.80 6,990.80 5,265.81 1131-0000 - Accounts receivable - subsidy 455.00 86.00 917.00 1240-0000 - Prepaid property and liability insurance 4,221.24 37,673.94 34,249.04 1250-0000 - Prepaid Mortgage Insurance 882.11 771.85 661.59 Total Current Assets 21,551.44 71,696.88 63,537.56 Other Assets 1290-0000 - Misc Prepaid Expenses 148.61 162.36 176.11 1192-0000 - Tenant Sec Dep 8,281.53 8,272.19 8,610.92 1311-0000 - Insurance escrow 42,483.76 5,222.01 9,059.10 1312-0000 - Mortgage Insurance Escrow 715.71 830.41 945.11 1320 - Replacement Reserve 40,252.53 22,939.58 24,715.34 Total Other Assets 91,882.14 37,426.55 43,506.58 Fixed Assets 1420-0000 - Building 1,048,224.20 1,048,224.20 1,048,224.20 1420-0001 - Building Improvements 348,174.44 348,174.44 348,174.44 1430-0000 - Land Improvements 327,439.75 327,439.75 327,439.75 1450-0000 - Furniture for project/tenant use 464,270.70 464,270.70 464,270.70 1497-0000 - Site improvements 255,866.77 255,866.77 255,866.77 1499-0000 - Accumulated Depreciation 13,201.56 13,201.56 13,201.56 4120-0000 - Accum depr - buildings (2,234,964.46) (2,234,964.46) (2,234,964.46) 1498-0000 - Current F/A 43,195.08 45,751.48 47,749.23 Total Fixed Assets 265,408.04 267,964.44 269,962.19 Financing Costs 1900-0001 - Deferred Financing Costs 62,658.71 62,658.71 62,658.71 1999-0000 - Accum Amort - Bond Costs (26,983.30) (26,983.30) (26,983.30) Total Financing Costs 35,675.41 35,675.41 35,675.41 Partnership Assets 1701-0000 - Cash - Partnership 176,060.07 176,081.05 176,104.20 Total Partnership Assets 176,060.07 176,081.05 176,104.20 Total Assets 590,577.10 588,844.33 588,785.94 Page 19 of 67  RAVINIA HOUSING Balance Sheet Month Ending Month Ending Month Ending 07/31/25 08/31/25 09/30/25 Actual Actual Liabilities & Equity Current Liabilities 2110-0000 - Accounts payable 18,230.90 8,773.71 16,646.25 2120-0000 - Accrued wages and p/r taxes payable 1,317.53 1,317.53 1,317.53 2130-0000 - Accrued interest - mortgage 1,108.35 1,104.59 1,100.82 2131-0000 - Accrued Interest Bank Loans 1,165.11 1,165.11 1,165.11 2131-0001 - Accrued Interest - 2nd Note 10,498.21 10,498.21 10,498.21 2180-0000 - Misc current liabilities 1,180.21 1,180.21 871.07 Total Current Liabilities 33,500.31 24,039.36 31,598.99 Non-Current Liabilities 2320-0000 - Mortgage Payable (long term) 295,559.67 294,557.68 293,551.93 2190-0000 - Misc Clearing 888.00 888.00 725.00 2191-0000 - Security deposits-residential 7,606.00 7,606.00 7,954.00 2191-0001 - Pet Deposit 300.00 300.00 300.00 2210-0000 - Prepaid Rent 252.19 1,226.17 1,000.07 2211-0000 - Prepaid HUD 7,214.00 7,461.00 2,861.00 2320-1000 - Mortgage payable - 2nd note 459,322.72 459,322.72 459,322.72 2390-0000 - Miscellaneous Liability 14,974.14 14,974.14 14,974.14 Total Non-Current Liabilities 786,116.72 786,335.71 780,688.86 Partnership Liabilities 2901-0000 - Partnership Payable 37,428.48 37,428.48 37,428.48 Total Partnership Liabilities 37,428.48 37,428.48 37,428.48 Owner's Equity 3100-0000 - Limited Partners Equity 25,462.78 25,462.78 25,462.78 3209-0000 - Prior Year Retained Earnings (330,965.81) (330,965.81) (330,965.81) 3210-0000 - Retained earnings 36,566.73 39,034.62 46,543.81 Current Month Earnings 2,467.89 7,509.19 (1,971.17) Total Owner's Equity (266,468.41) (258,959.22) (260,930.39) Total Liability & Owner Equity 590,577.10 588,844.33 588,785.94 Page 20 of 67  RAVINIA HOUSING Actual vs Budget Accrual Operating Statement Month Ending Year To Date Year Ending 09/30/25 09/30/25 12/31/25 Actual Budget Variance Actual Budget Variance Annual Budget GROSS OPERATING INCOME RESIDENTIAL RENTAL INCOME 5120-0000 - Apartment rent 6,478.00 30,238.00 (23,760.00) 56,935.00 270,534.00 (213,599.00) 361,248.00 5121-0000 - Tenant assistant payments 23,641.00 0.00 23,641.00 212,647.00 0.00 212,647.00 0.00 TOTAL RESIDENTIAL RENTAL INCOME 30,119.00 30,238.00 (119.00) 269,582.00 270,534.00 (952.00) 361,248.00 VACANCIES & ADJUSTMENTS 5220-0000 - Vacancy loss - apartments (1,022.00) (602.08) (419.92) (6,303.00) (5,418.72) (884.28) (7,224.96) 5123-0000 - Rent Concession (140.68) 0.00 (140.68) (140.68) 0.00 (140.68) 0.00 TOTAL VACANCIES & ADJUSTMENTS (1,162.68) (602.08) (560.60) (6,443.68) (5,418.72) (1,024.96) (7,224.96) OTHER INCOME 5922-0000 - Late fees 3.00 5.00 (2.00) 40.00 45.00 (5.00) 60.00 5990-0000 - Misc other income 57.00 0.00 57.00 357.68 0.00 357.68 0.00 5410-0000 - Interest Income Project Operations 0.73 0.00 0.73 6.22 0.00 6.22 0.00 5413-0000 - Interest income - escrow 14.41 57.94 (43.53) 242.41 521.46 (279.05) 695.28 TOTAL OTHER INCOME 75.14 62.94 12.20 646.31 566.46 79.85 755.28 GROSS OPERATING INCOME 29,031.46 29,698.86 (667.40) 263,784.63 265,681.74 (1,897.11) 354,778.32 ADVERTISING & RENTING EXPENSE 6211-0000 - Marketing/Promotions/Advertising 0.00 50.00 50.00 106.93 368.00 261.07 418.00 6253-0000 - Credit Report Fees 34.00 16.67 (17.33) 371.00 150.03 (220.97) 200.04 TOTAL ADVERTISING & RENTING EXPENSE 34.00 66.67 32.67 477.93 518.03 40.10 618.04 ADMINISTRATIVE EXPENSE 6311-0000 - Office supplies 143.54 150.00 6.46 1,279.90 1,350.00 70.10 1,800.00 6316-0000 - Office Equipment 109.67 80.00 (29.67) 895.24 720.00 (175.24) 960.00 6320-0000 - Management fee 931.86 827.50 (104.36) 9,882.73 7,447.50 (2,435.23) 9,930.00 6340-0000 - Legal Expense - Project 250.00 0.00 (250.00) 2,417.34 750.00 (1,667.34) 750.00 6350-0000 - Audit Expense 2,340.00 0.00 (2,340.00) 14,650.00 15,600.00 950.00 15,600.00 6360-0000 - Telephone/Internet/Cable/Cellphones 572.37 500.00 (72.37) 4,317.96 4,500.00 182.04 6,000.00 6360-0001 - Answering Service/ Pagers 0.00 0.00 0.00 169.12 0.00 (169.12) 0.00 6365-0000 - Training & Education Expense 0.00 0.00 0.00 213.74 950.00 736.26 950.00 6370-0000 - Bad debts 727.94 0.00 (727.94) 7,169.88 5,000.00 (2,169.88) 5,000.00 6371-0000 - Fees Dues & Contributions 0.00 0.00 0.00 (792.20) 510.00 1,302.20 510.00 6380-0000 - Consulting/study costs 0.00 0.00 0.00 4,300.80 3,000.00 (1,300.80) 3,000.00 6390-0000 - Misc administrative expenses 126.88 100.00 (26.88) 5,019.28 900.00 (4,119.28) 1,200.00 6391-0000 - Property Management Software Fees 140.49 136.00 (4.49) 1,431.90 1,214.00 (217.90) 1,622.00 6392-0000 - Computer Supplies/Data Processing 35.43 35.00 (0.43) 328.88 315.00 (13.88) 420.00 6395-0000 - Tenant Retention 0.00 0.00 0.00 90.26 0.00 (90.26) 0.00 6431-0000 - Travel & Expense Reimbursement 32.06 0.00 (32.06) 161.36 300.00 138.64 400.00 6851-0000 - Bank Service Fees 85.00 85.00 0.00 810.29 765.00 (45.29) 1,020.00 6860-0000 - Security Deposit Interest 0.02 2.00 1.98 0.32 18.00 17.68 24.00 TOTAL ADMINISTRATIVE EXPENSE 5,495.26 1,915.50 (3,579.76) 52,346.80 43,339.50 (9,007.30) 49,186.00 PAYROLL & RELATED COSTS 6310-0000 - Office salaries 1,830.32 1,789.00 (41.32) 17,356.01 16,996.00 (360.01) 23,258.00 6491-0000 - Temp Maintenance Contractor 0.00 0.00 0.00 2,463.90 0.00 (2,463.90) 0.00 Page 21 of 67  RAVINIA HOUSING Actual vs Budget Accrual Operating Statement Month Ending Year To Date Year Ending 09/30/25 09/30/25 12/31/25 Actual Budget Variance Actual Budget Variance Annual Budget 6510-0000 - Janitor and cleaning payroll 695.56 707.00 11.44 7,120.20 6,717.00 (403.20) 9,192.00 6540-0000 - Repairs payroll 603.49 914.00 310.51 6,466.82 8,684.00 2,217.18 11,884.00 6900-0000 - Social Service Coordinator 0.00 0.00 0.00 5.40 0.00 (5.40) 0.00 6715-0000 - Payroll Taxes 230.61 260.00 29.39 2,799.11 2,962.00 162.89 3,885.00 6722-0000 - Workers compensation 71.25 150.00 78.75 811.21 1,350.00 538.79 1,800.00 6723-0000 - Employee Health Ins/Other Benefits 149.04 192.00 42.96 1,544.25 1,715.00 170.75 2,311.00 6724-0000 - Union Benefits 1,313.49 585.00 (728.49) 6,657.49 5,265.00 (1,392.49) 7,020.00 6726-0001 - Contingency 0.00 0.00 0.00 900.00 900.00 0.00 1,020.00 TOTAL PAYROLL & RELATED COSTS 4,893.76 4,597.00 (296.76) 46,124.39 44,589.00 (1,535.39) 60,370.00 OPERATING EXPENSES 6515-0000 - Janitors and cleaning supplies 7.38 33.33 25.95 74.78 299.97 225.19 399.96 6518-0000 - Uniforms 0.00 0.00 0.00 0.00 500.00 500.00 500.00 6519-0000 - Exterminating Contract 0.00 0.00 0.00 0.00 500.00 500.00 500.00 6520-0000 - Miscellaneous Repair Contractors 280.00 416.67 136.67 6,848.76 3,750.03 (3,098.73) 5,000.04 6525-0000 - Rubbish removal 872.97 637.50 (235.47) 6,692.80 5,737.50 (955.30) 7,650.00 TOTAL OPERATING EXPENSES 1,160.35 1,087.50 (72.85) 13,616.34 10,787.50 (2,828.84) 14,050.00 UTILITIES 6450-0000 - Electricity 583.87 245.00 (338.87) 2,221.24 2,205.00 (16.24) 2,940.00 6451-0000 - Water & Sewer 6.11 0.00 (6.11) 6,557.06 1,500.00 (5,057.06) 2,000.00 6452-0000 - Gas 86.57 33.33 (53.24) 162.22 299.97 137.75 399.96 TOTAL UTILITIES 676.55 278.33 (398.22) 8,940.52 4,004.97 (4,935.55) 5,339.96 MAINTENANCE EXPENSES 6530-0200 - Security Services 0.00 0.00 0.00 1,081.92 1,538.00 456.08 1,884.00 6536-0000 - Ground supplies & Equipment Repairs 0.00 0.00 0.00 67.30 300.00 232.70 300.00 6537-0000 - Grounds Contractor (Landscaper) 1,515.25 1,600.00 84.75 7,579.85 8,400.00 820.15 12,000.00 6541-0000 - Repair & Maintenance Supplies 606.13 833.33 227.20 3,261.38 7,499.97 4,238.59 9,999.96 6546-0000 - Heating/Cooling/Boiler Contract Repair & Sup- 750.00 200.00 (550.00) 2,591.89 400.00 (2,191.89) 2,475.00 plies 6548-0000 - Snow removal 6,987.50 0.00 (6,987.50) 13,975.00 6,988.00 (6,987.00) 27,952.00 6560-0000 - Decorating (Tenant Pntg-Cycle/Turnover by 3,700.00 0.00 (3,700.00) 7,400.00 3,000.00 (4,400.00) 3,000.00 Contractor) 6582-0000 - Fire Protection & Fire Equipment 0.00 1,000.00 1,000.00 1,887.00 7,000.00 5,113.00 8,000.00 6595-0000 - Plumbing Repairs 571.00 500.00 (71.00) 10,313.52 3,000.00 (7,313.52) 4,000.00 6598-0000 - Roof Repairs 0.00 0.00 0.00 644.00 1,500.00 856.00 4,000.00 TOTAL MAINTENANCE EXPENSES 14,129.88 4,133.33 (9,996.55) 48,801.86 39,625.97 (9,175.89) 73,610.96 TAXES AND INSURANCE 6720-0000 - Property and liability insurance 3,424.90 4,833.59 1,408.69 38,054.01 38,458.87 404.86 52,959.64 TOTAL TAXES AND INSURANCE 3,424.90 4,833.59 1,408.69 38,054.01 38,458.87 404.86 52,959.64 TOTAL OPERATING EXPENSES 29,814.70 16,911.92 (12,902.78) 208,361.85 181,323.84 (27,038.01) 256,134.60 NET OPERATING INCOME (LOSS) (783.24) 12,786.94 (13,570.18) 55,422.78 84,357.90 (28,935.12) 98,643.72 FINANCIAL EXPENSES 6820-0000 - Mortgage interest 1,100.82 1,100.82 0.00 10,041.98 10,041.98 0.00 13,321.66 6850-0000 - Mortgage Service Fee 110.26 120.00 9.74 1,005.61 1,080.00 74.39 1,440.00 TOTAL FINANCIAL EXPENSES 1,211.08 1,220.82 9.74 11,047.59 11,121.98 74.39 14,761.66 Page 22 of 67  RAVINIA HOUSING Actual vs Budget Accrual Operating Statement Month Ending Year To Date Year Ending 09/30/25 09/30/25 12/31/25 Actual Budget Variance Actual Budget Variance Annual Budget NET OPER INC/(LOSS) BEFORE CAP. EXP. (1,994.32) 11,566.12 (13,560.44) 44,375.19 73,235.92 (28,860.73) 83,882.06 Partnership Income 8005-0000 - Mortgagor Entity Income 23.15 0.00 23.15 197.45 0.00 197.45 0.00 Total Partnership Activity 23.15 0.00 23.15 197.45 0.00 197.45 0.00 NET INCOME (LOSS) (1,971.17) 11,566.12 (13,537.29) 44,572.64 73,235.92 (28,663.28) 83,882.06 Cash Flow - Financing Activities 7104-0000 - Replacement Reserve 1,761.35 1,663.00 (98.35) 15,754.02 14,967.00 (787.02) 19,956.00 7108-0000 - Mortgage Payable (long term) 1,005.75 1,005.75 0.00 8,917.64 8,917.64 0.00 11,957.58 Total Cash Flow - Financing Activities 2,767.10 2,668.75 (98.35) 24,671.66 23,884.64 (787.02) 31,913.58 CAPITAL EXPENDITURES & ESCROWS 7105-0000 - Replacement Reserve Reimbursement 0.00 0.00 0.00 (56,186.56) 0.00 56,186.56 0.00 6991-0000 - Capital expenditures 1,997.75 0.00 (1,997.75) 32,346.14 6,900.00 (25,446.14) 6,900.00 6991-0005 - Bath - Rehab 0.00 0.00 0.00 5,800.00 0.00 (5,800.00) 0.00 6991-0006 - Kitchen - Rehab 0.00 0.00 0.00 0.00 6,000.00 6,000.00 6,000.00 6991-0016 - Concrete Repairs 0.00 0.00 0.00 0.00 6,000.00 6,000.00 6,000.00 6991-0022 - Lighting 0.00 0.00 0.00 0.00 4,000.00 4,000.00 4,000.00 6993-0001 - Appliances 0.00 0.00 0.00 1,465.00 4,000.00 2,535.00 4,000.00 6993-0002 - Water Heaters 0.00 0.00 0.00 2,539.09 2,400.00 (139.09) 2,400.00 6994-0000 - Carpet & tile 0.00 0.00 0.00 5,599.00 15,000.00 9,401.00 15,000.00 TOTAL CAPITAL EXPENDITURES & ESCROWS 1,997.75 0.00 (1,997.75) (8,437.33) 44,300.00 52,737.33 44,300.00 GAIN/(LOSS) AFTER CAPITAL EXP. & ESCROWS (6,736.02) 8,897.37 (15,633.39) 28,338.31 5,051.28 23,287.03 7,668.48 Debt Service Coverage Ratio (0.20) 3.39 (3.59) 1.60 2.49 (0.89) 2.18 Page 23 of 67  Peers Capital Improvements Update September 2025 Date for Planned Planned Comments Date $ Actual Task Work $ Use of $ Use of $ Use of Complet Complete R&R Construction Operating e Operations Carpet replacement Feb-25 $ 4,471.90 Fire bots 50% deposit Mar-25 $ 7,697.00 Carpet & tile Apr-25 $ 2,444.00 Bath rehab #304 1st installment May-25 $ 2,950.00 Floor replaced in #312 May-25 $ 1,435.20 Bath rehab #304 2nd installment Jun-25 $ 2,950.00 Appliances Jul-25 $ 1,288.47 Carpet & tile Jul-25 $ 1,768.50 Appliances Aug-25 $ 644.23 Fire bots-2nde installment Sep-25 $ 7,391.00 $ 33,040.30 Reserves Cash Flow Sep-25 $ 222,118.33 2025 Annual Escrow Deposit $ 6,000.00 Expected Use of Reserves $ in 2025 Balance expected at end of 2025 $ 228,118.33 IHDA Minimum @$1500/unit $ 102,000.00 Page 24 of 67  Ravinia Capital Improvements Update September 2025 Date for Planned Planned Comments Date $ Actual Task Work $ Use of $ Use of $ Use of Complet Complete R&R Construction Operating e Operations Bath rehab $ 5,800.00 Appliances $ 663.60 Fire bots 50% deposit $ 2,074.25 2745 St Johns Ave. New furnace $ 5,942.12 New pit pumps at Pleasant Ave. $ 9,032.02 Replacement Reserve request Q1 $ (36,503.47) Capital expenses $ 13,300.00 Water heater 737 Pleasant $ 2,539.09 New vinyl flooring 761 Pleasant $ 3,844.00 Replacement Reserve request Q2 $ (21,570.00) $ 19,683.09 Replacement Reserve request Q2 $ (19,683.09) - Appliances $ 801.40 Fire bots 2nd installment $ 1,997.75 Carpet replacement $ 1,755.00 Totals $ 4,554.15 Reserves Cash Flow Sep-25 $ 24,715.34 2025 Annual Escrow Deposit $ 5,284.05 Expected Use of Reserves $ in 2025 Reserve request in 2025 Q2 Balance expected at end of 2025 $ 29,999.39 HUD Minimum @$1000/unit $ 17,000.00 Page 25 of 67  Highland Park Housing Commission - Cash Fund Balance as of 9/2025 Ravinia Frank B. Peers Housing Sunset Woods Association 2 Rental Management Funds: 12 Rental Units Units Total Funds Entity Totals Checking $1,196,215.25 21,815.72 - $1,218,030.97 Security Deposit 33,743.65 8,610.92 - $42,354.57 Replacement Reserve 222,118.33 24,715.34 - $246,833.67 Residual Receipts 15,523.66 - - $15,523.66 Operating Reserve - - - $0.00 Tax Reserve Construction Escrow Total Management Funds 1,467,600.89 55,141.98 - - - $1,522,742.87 Sunset Woods 9/2025 Association Funds: Assn Money Mkt Ckg 1305 176,104.20 111,775.60 287,879.80 Assn MaxSafe Money Market 4382 555,562.35 555,562.35 Assn Small Business Ckg 1321 14,844.86 10,226.98 25,071.84 Association CDs CD #1 521,891.33 521,891.33 - Total Association Funds 1,092,298.54 176,104.20 122,002.58 - 1,390,405.32 Total Mgmt & Assn Funds 2,559,899.43 231,246.18 122,002.58 - - 2,913,148.19 Association Receivables (Liability) 1) Due from Hsg. Trst. Fd 277 GB 7,491.85 7,491.85 2) Due from Hsg. Trst Fd. Emerg. 689.44 689.44 3) Due from Sunset Woods / (Due to Peers) (0.10) - (0.10) 4) Due from Ravinia 37,500.00 Total 45,681.19 - 45,681.19 Page 26 of 67  Sunset Woods Housing 12 Balance Sheet September 30, 2025 ASSETS Current Assets Assn FBHP Checking $ 10,377.00 FBHP General Checking 20,718.73 FBHP Security Dep. Savings 10,942.07 Assn FBHP Savings 109,626.00 FBHP Savings 9,495.51 Tax Reserve (18.41) Accounts Receivable (2,485.00) Subsidy Accounts Receivable (59.00) Total Current Assets 158,596.90 Property and Equipment Building 1,552,988.40 Building Improvements 20,532.96 Appliances 422.64 Accum Dep Furn & Fixtures (399.37) Accum Dep Equipment (403.85) Accum Dep Building (869,413.47) Debt issuance costs - accum am (2,582.00) Total Property and Equipment 701,145.31 Other Assets Total Other Assets 0.00 Total Assets $ 859,742.21 LIABILITIES AND CAPITAL Current Liabilities Security Deposits $ 10,051.00 Total Current Liabilities 10,051.00 Long-Term Liabilities Notes Payable, Lake Co 116,760.18 Notes Payable, FBHP (35,604.29) Current Portion of FBHP Mortga 359,388.00 Current Portion of IHDA Mortga 1,200.00 Debt issuance costs (4,842.00) Notes Payable, IHDA 205,962.60 Total Long-Term Liabilities 642,864.49 Total Liabilities 652,915.49 Capital Beginning Balance Equity (85,000.00) Equity-Retained Earnings 284,892.72 Net Income 6,934.00 Total Capital 206,826.72 Total Liabilities & Capital $ 859,742.21 10/30/2025 at 8:38 PM Unaudited - For Management Purposes Only Page 27 of 67  Sunset Woods Housing 12 Income Statement Compared with Budget For the Nine Months Ending September 30, 2025 Current Month Current Month Current Month Year to Date Year to Date Year to Date Yearly Budget Actual Budget Variance Actual Budget Variance Revenues Rents $ 11,469.50 $ 7,918.00 3,551.50 $ 74,887.50 $ 71,262.00 3,625.50 95,016.00 Subsidy Income 1,664.00 1,879.00 (215.00) 15,893.00 16,911.00 (1,018.00) 22,548.00 Late & NSF Fees 0.00 0.00 0.00 20.00 0.00 20.00 0.00 Interest Income 0.00 0.00 0.00 23.27 0.00 23.27 0.00 Vacancy 0.00 (490.00) 490.00 (1,137.00) (4,410.00) 3,273.00 (5,878.00) Total Revenues 13,133.50 9,307.00 3,826.50 89,686.77 83,763.00 5,923.77 111,686.00 Cost of Sales Total Cost of Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Gross Profit 13,133.50 9,307.00 3,826.50 89,686.77 83,763.00 5,923.77 111,686.00 Expenses Office Supplies 0.00 25.00 (25.00) 152.28 225.00 (72.72) 300.00 Management Fee 731.38 605.00 126.38 5,293.75 5,445.00 (151.25) 7,260.00 Audit Expense 0.00 667.00 (667.00) 11,563.00 6,003.00 5,560.00 8,000.00 Exterminating 0.00 75.00 (75.00) 0.00 675.00 (675.00) 900.00 Credit Ck Fees 0.00 4.00 (4.00) 15.00 36.00 (21.00) 50.00 Government Fees 0.00 96.00 (96.00) 0.00 864.00 (864.00) 1,150.00 Software/Data Processing 42.34 32.00 10.34 368.94 288.00 80.94 380.00 Heating & Air 0.00 42.00 (42.00) 672.35 378.00 294.35 500.00 Electrical & Plumbing Maint 0.00 42.00 (42.00) 245.00 378.00 (133.00) 500.00 Painting & Decorating 0.00 108.00 (108.00) 0.00 972.00 (972.00) 1,300.00 Appliance Repairs/Replace 0.00 83.00 (83.00) 1,621.57 747.00 874.57 1,000.00 Supplies Assn 0.00 0.00 0.00 16.50 0.00 16.50 0.00 Supplies 0.00 125.00 (125.00) 994.68 1,125.00 (130.32) 1,500.00 Carpet 0.00 83.00 (83.00) 0.00 747.00 (747.00) 1,000.00 Maintenance 0.00 167.00 (167.00) 250.00 1,503.00 (1,253.00) 2,000.00 Insurance - D+O 0.00 0.00 0.00 4,487.21 0.00 4,487.21 0.00 Electricity 0.00 0.00 0.00 63.26 0.00 63.26 0.00 Condo Assessment Rental Units 4,013.48 3,356.00 657.48 36,121.32 30,204.00 5,917.32 40,268.00 Cable TV 828.96 800.00 28.96 7,460.64 7,200.00 260.64 9,600.00 Real Estate tax expense 18.48 3.00 15.48 55.44 27.00 28.44 37.00 Loan Interest 1,581.66 2,349.00 (767.34) 13,351.83 21,141.00 (7,789.17) 28,188.00 Bank Service Charges 0.00 0.00 0.00 20.00 0.00 20.00 0.00 Bldg Insurance 0.00 250.00 (250.00) 0.00 2,250.00 (2,250.00) 3,000.00 Total Expenses 7,216.30 8,912.00 (1,695.70) 82,752.77 80,208.00 2,544.77 106,933.00 Net Income $ 5,917.20 $ 395.00 5,522.20 $ 6,934.00 $ 3,555.00 3,379.00 4,753.00 10/30/2025 at 8:38 PM For Management Purposes Only Page: 2 Page 28 of 67  Sunset Woods Housing 12 Account Register For the Period From Sep 1, 2025 to Sep 30, 2025 1103M13 - FBHP General Checking Filter Criteria includes: Report order is by Date Trans No Type Trans Desc Deposit Amt Withdrawal Amt Balance Beginning Balance 19,351.39 9/1/25 HAPPD2509 Other HAPPD 1,664.00 21,015.39 9/1/25 ihda2509 Other ihda/auto pymt 100.00 20,915.39 9/3/25 RP2509 Other RP2509 950.00 21,865.39 9/8/25 RP2509 Other RP2509 680.00 22,545.39 9/8/25 Sunset 9.8.25 Other Sunset 9.8.25 4,818.00 27,363.39 9/11/25 2256 Withdrawal Housing Opportunity Dev. Corp. 731.38 26,632.01 9/17/25 Onesite2509 Other Onesite 42.34 26,589.67 9/26/25 loan20 Other FBHP/auto pymt 2,454.00 24,135.67 9/29/25 Sunset 9.29.25 Other Sunset 9.29.25 750.00 24,885.67 9/30/25 Withdrawal LCHA c/o HODC 235.00 24,650.67 9/30/25 Withdrawal Westwaard360 4,842.44 19,808.23 9/30/25 RP2509 Other RP2509 910.50 20,718.73 Total 9,772.50 8,405.16 10/30/2025 at 8:38 PM Page: 3 Page 29 of 67 Page 30 of 67 Page 31 of 67  SWA 2 Rental Balance Sheet September 30, 2025 ASSETS Current Assets FBHP Checking $ 106,308.71 FBHP Security Dep Savings 2,275.54 Prepaid Insurance 1,080.00 Total Current Assets 109,664.25 Property and Equipment Furniture and Fixtures 3,041.60 Building Unit 231 135,000.32 Building Unit 319 134,999.62 Accum Dep Building (83,685.86) Total Property and Equipment 189,355.68 Other Assets Total Other Assets 0.00 Total Assets $ 299,019.93 LIABILITIES AND CAPITAL Current Liabilities Security Deposits $ 2,233.00 Total Current Liabilities 2,233.00 Long-Term Liabilities Total Long-Term Liabilities 0.00 Total Liabilities 2,233.00 Capital Beginning Balance Equity 246,832.40 Equity-Retained Earnings 45,632.88 Net Income 4,321.65 Total Capital 296,786.93 Total Liabilities & Capital $ 299,019.93 10/30/2025 at 8:44 PM Unaudited - For Management Purposes Only Page 32 of 67  SWA 2 Rental Income Statement Compared with Budget For the Nine Months Ending September 30, 2025 Current Month Current Month Current Month Year to Date Year to Date Year to Date Annual Budget Actual Budget Variance Actual Budget Variance Revenues Rents $ 2,300.00 $ 2,300.00 0.00 $ 20,700.00 $ 20,700.00 0.00 27,600.00 Interest Income 0.00 0.00 0.00 3.27 0.00 3.27 0.00 Vacancy 0.00 (115.00) 115.00 0.00 (1,035.00) 1,035.00 (1,380.00) Total Revenues 2,300.00 2,185.00 115.00 20,703.27 19,665.00 1,038.27 26,220.00 Cost of Sales Total Cost of Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Gross Profit 2,300.00 2,185.00 115.00 20,703.27 19,665.00 1,038.27 26,220.00 Expenses Office Supplies 0.00 25.00 (25.00) 0.00 225.00 (225.00) 300.00 Management Fee 149.50 142.00 7.50 1,198.08 1,278.00 (79.92) 1,704.00 Audit Expense 0.00 125.00 (125.00) 1,927.00 1,125.00 802.00 1,500.00 Credit Ck Fees 0.00 5.00 (5.00) 0.00 45.00 (45.00) 0.00 Software/Data Processing 7.06 0.00 7.06 61.50 0.00 61.50 65.00 Heating & Air 0.00 0.00 0.00 1,281.00 0.00 1,281.00 0.00 Electrical & Plumbing Maint 0.00 0.00 0.00 395.00 0.00 395.00 0.00 Painting & Decorating 0.00 125.00 (125.00) 0.00 1,125.00 (1,125.00) 1,500.00 Appliance Repairs/replace 0.00 25.00 (25.00) 811.58 225.00 586.58 300.00 Supplies 0.00 8.00 (8.00) 0.00 72.00 (72.00) 100.00 Maintenance 0.00 42.00 (42.00) 0.00 378.00 (378.00) 500.00 Insurance - D+O 0.00 0.00 0.00 642.00 0.00 642.00 0.00 Condo Asst Rental Units 979.54 819.00 160.54 8,815.86 7,371.00 1,444.86 9,828.00 Cable TV 138.16 133.00 5.16 1,243.44 1,197.00 46.44 1,600.00 Real Estate tax expense 0.00 0.00 0.00 6.16 0.00 6.16 0.00 Bldg Insurance 0.00 42.00 (42.00) 0.00 378.00 (378.00) 500.00 Total Expenses 1,274.26 1,491.00 (216.74) 16,381.62 13,419.00 2,962.62 17,897.00 Net Income $ 1,025.74 $ 694.00 331.74 $ 4,321.65 $ 6,246.00 (1,924.35) 8,323.00 10/30/2025 at 8:44 PM For Management Purposes Only Page: 2 Page 33 of 67  SWA 2 Rental Account Register For the Period From Sep 1, 2025 to Sep 30, 2025 1103M14 - FBHP Checking Filter Criteria includes: Report order is by Date. Date Trans No Type Trans Desc Deposit Amt Withdrawal Amt Balance Beginning Balance 106,382.97 9/9/25 RP2509 Other RP2509 1,200.00 107,582.97 9/11/25 1478 Withdrawal Housing Opportunity Developmen 149.50 107,433.47 9/17/25 Onesite2409 Other Onesite Fees 7.06 107,426.41 9/30/25 Withdrawal Sunset Woods c/o Westward360 1,117.70 106,308.71 Total 1,200.00 1,274.26 10/30/2025 at 8:44 PM Page: 3 Page 34 of 67 Housing Opportunity Development Corporation - Sunset Woods Rental RENT ROLL DETAIL 10/01/2025 11:51 AM As of Date: 09/30/2025 Parameters: Properties: - all subproperties-; Show All Unit Designations or Resh ID Bldg/Unit Name Market + Addl. Balance Lease Rent RENT Total Billing 8 1-231 - - 1,100.00 1,100.00 1,100.00 10 1-319 - - 1,200.00 1,200.00 1,200.00 Totals: - 0.00 2,300.00 2,300.00 2,300.00 Note: This section consists of records for occupied Page 35 of 67 HOUSING TRUST FUND Schedule of Changes in Fund Balance Actual Estimated Total3 Through Jul - Dec 2025 June 2025 2025 Budget Beginning Fund Balance (Audited) 1,968,422 1,943,932 1,943,932 Demolition Tax 68,856 31,144 100,000 Demolition Permits 3,750 8,250 12,000 Reimbursements and Grants - - Interest Revenue 41,634 49,766 91,400 4 Contributions/Donations/Transfers - - - 1 Payment in lieu of Affordable Housing 74,160 (74,160) - Proceeds of Ceding Volume Cap - - Total Revenue 188,400 15,000 203,400 2 Contractual Services (Obligations) 193,546 374,189 567,735 Employment Expenses 5,596 6,820 12,416 Salaries 13,748 23,908 37,656 Personnel Expenditures 19,344 30,728 50,072 Total Expenditures 212,890 404,917 617,807 Ending Fund Balance 1,943,932 1,554,015 1,529,525 Fund Balance at 150% target 926,711 926,711 Fund Balance less Obligations and Target 627,304 602,814 Notes: 1. Anticipated Revenue: 2025 Payment in lieu 664,080 2025 Demolition Tax 130,000 2025 Demolition Permits 15,000 Total 809,080 2. Obligations: Scattered Site Grant Budgeted for 2025 463,550 Operating Grant Budgeted for 2025 94,185 Temporary Housing Assistance 10,000 Total 567,735 3. Adopted Budget Page 36 of 67 HOUSING TRUST FUND Schedule of Changes in Fund Balance Actual Estimated Total3 Through Aug - Dec 2025 July 2025 2025 Budget Beginning Fund Balance (Audited) 1,968,422 1,972,885 1,972,885 Demolition Tax 88,856 11,144 100,000 Demolition Permits 6,000 6,000 12,000 Reimbursements and Grants - - Interest Revenue 48,337 43,063 91,400 4 Contributions/Donations/Transfers - - - 1 Payment in lieu of Affordable Housing 74,160 (74,160) - Proceeds of Ceding Volume Cap - - Total Revenue 217,353 (13,953) 203,400 2 Contractual Services (Obligations) 193,546 374,189 567,735 Employment Expenses 5,596 6,820 12,416 Salaries 13,748 23,908 37,656 Personnel Expenditures 19,344 30,728 50,072 Total Expenditures 212,890 404,917 617,807 Ending Fund Balance 1,972,885 1,554,015 1,558,478 Fund Balance at 150% target 926,711 926,711 Fund Balance less Obligations and Target 627,304 631,767 Notes: 1. Anticipated Revenue: 2025 Payment in lieu 664,080 2025 Demolition Tax 130,000 2025 Demolition Permits 15,000 Total 809,080 2. Obligations: Scattered Site Grant Budgeted for 2025 463,550 Operating Grant Budgeted for 2025 94,185 Temporary Housing Assistance 10,000 Total 567,735 3. Adopted Budget Page 37 of 67 HOUSING TRUST FUND Schedule of Changes in Fund Balance Actual Estimated Total3 Through Sep - Dec 2025 August 2025 2025 Budget Beginning Fund Balance (Audited) 1,968,422 1,987,465 1,987,465 Demolition Tax 98,856 1,144 100,000 Demolition Permits 6,750 5,250 12,000 Reimbursements and Grants - - Interest Revenue 55,431 35,969 91,400 4 Contributions/Donations/Transfers - - - 1 Payment in lieu of Affordable Housing 74,160 (74,160) - Proceeds of Ceding Volume Cap - - Total Revenue 235,198 (31,798) 203,400 2 Contractual Services (Obligations) 193,546 374,189 567,735 Employment Expenses 6,222 6,194 12,416 Salaries 16,387 21,269 37,656 Personnel Expenditures 22,608 27,464 50,072 Total Expenditures 216,155 401,652 617,807 Ending Fund Balance 1,987,465 1,554,015 1,573,058 Fund Balance at 150% target 926,711 926,711 Fund Balance less Obligations and Target 627,304 646,347 Notes: 1. Anticipated Revenue: 2025 Payment in lieu 664,080 2025 Demolition Tax 130,000 2025 Demolition Permits 15,000 Total 809,080 2. Obligations: Scattered Site Grant Budgeted for 2025 463,550 Operating Grant Budgeted for 2025 94,185 Temporary Housing Assistance 10,000 Total 567,735 3. Adopted Budget Page 38 of 67  Memorandum Date: October 31, 2025 To: Housing Commission From: Zubin Coleman, Senior Planner Subject: Peers & Ravinia 5-Year Capital Improvement Plan Background Staff reached out to Irina Leykin of ERES to request updated CIP’s for the Peers and Ravinia housing properties. The goal of receiving the CIP’s was to identify what projects are necessary for repair sooner rather than later. And it is equally important to know what Evergreen has forecasted as projects that can wait to be addressed in the coming years. Obtaining updated CIP’s for Peers & Ravinia will help Staff’s recommendation to Housing Commission on how funds should be addressed. Internal discussions are still taking place at this time but direction on how the funds could be managed will follow in the coming months. CIP Observations The biggest repair ERES has estimated is a $155,000 roofing repair to take place in 2027. ERES has already recommended to not take any further funds from its replacement reserves to cover the 2027 roofing costs. The Peers 2026-2030 CIP shows its pending reserve balance in red anytime the balance falls below the $102,000 minimum. The reserve balance will not be as full for multiple years following the roofing repair. After the 2027 roofing repair, it likely won’t rise above the minimum until 2030. There is also a HVAC repair estimated at $15,000 in 2027. Other projects such as parking lot resealing & striping and unit appliances will occur in 2028 and beyond. The The biggest Ravinia expense is also a $70,500 roofing repair in 2029. That repair would likely come from the associations reserve account but would require cash call without offsetting contributions from the operating account. HVAC, water heaters, appliances and unit flooring will inhibit recurring annual costs from 2026-2030. However, the Ravinia pending reserve balance should never fall below the $25,500 minimum. Recommendation Staff recommends reviewing the 5-yeat Capital Improvement Plans (CIP) provided by Evergreen Real Estate Services (ERES) for the Ravinia and Peers housing properties, and having a preliminary discussion of the estimated repairs. No vote or action is needed at this time, further analysis will be provided. 1 Page 39 of 67  800 S. Milwaukee Ave., Suite 201 Libertyville, IL 60048 October 29, 2025 Highland Park Housing Commission Attn: Zubin Coleman 1150 Half Day Road Highland Park, IL 60035 Dear Zubin, This letter serves as our quarterly report with quarterly drawdown request ($23,546.25) for quarter 3 covering the period July 1, 2025 through September 30, 2025, per our 2025 operating grant agreement. Community Land Trust Program - CPAH (via AHC) completed approximately 70% of the rehabilitation of the 3bd/2bth single family home at 1500 Mccraren Road. Rehab work includes a new kitchen, baths, floors, mechanicals, plumbing, electric, windows, driveway, roof, and landscaping improvements. Rehab is scheduled to be completed in Q4. See attached photos. - CPAH (via AHC) completed approximately 90% of the rehabilitation of the 3bd/2bth single family home at 1342 Ferndale. Rehab work includes remediating water damage, refinishing the basement, roof, windows, driveway, removing an old oil tank, bathrooms, kitchen updates, and more. Rehab is scheduled to be completed in early November. See attached photos. - CPAH (via AHC) completed rehabilitation of the 3bd/1.5bth single family home at 661 Homewood. Rehab work included installation of a drain tile system to waterproof the basement, converting the home from 2-bedroom to 3-bedroom, new windows, and various other repairs. The home is under contract to sell to a local 5-person household in November. Photos are attached. We would be happy to arrange a time for Housing Commissioners to see the home, if desired. - CPAH closed on financing with IHDA and began construction of the 8-unit townhome development at 937 Deerfield Road. The existing dilapidated structures were used by the Fire Department for training purposes for 4-5 days before being demolished and removed. CPAH completed additional site work and the development, named Betsy Lassar Place, held an official groundbreaking ceremony on October 30th. The units are scheduled for completion in Q4 next year. Photos attached. w w w. c p a h o u s i n g . o r g phone 847.263.7478 fax 847.796.8060 Page 40 of 67 Inclusionary Housing CPAH had 784 households on the Highland Park Inclusionary Housing rental waitlist as of September 30, 2025. We received 121 rental waitlist applications from July through September, of which 69 were placed on the waitlist and 52 were denied because they lacked sufficient income. As of September 30th, there were no vacancies (100% occupied). The final for-sale inclusionary unit at 1950 Sheridan closed in September. The buyer is a long-time Highland Park resident and veteran who had been living with his parents because he could not afford a place of his own. He works at a grocery store in the area and makes deliveries to supplement his income. He is thrilled to have this opportunity to have a home of his own. CPAH continues to conduct annual income recertifications for the existing 52 inclusionary rental units (17 Albion, 4 Laurel Courts, 5 Ravinia Crossing, 11 McGovern, 3 Bloom, 2 St. Johns, 10 Albion II), assist property managers with ongoing questions related to the inclusionary units and tenants, and market to those who might be interested in applying to be on the waitlist for upcoming affordable housing opportunities in Highland Park. General Affordable Housing Work In addition to the specific CLT and inclusionary housing work described above, CPAH continued to provide a range of other housing services including housing counseling, down payment assistance, home repair and accessibility programs, foreclosure prevention, property management services, grant writing to leverage Housing Trust Fund dollars, and a range of post-purchase stewardship for homeowners and tenants including home maintenance classes, assistance with refinances, property tax assessments, financial education, matched savings program, revolving loan fund, and various other supports to help resident secure long-term housing stability. The attached pages provide a summary of indirect expenses incurred on Highland Park activity during the third quarter of 2025. We sincerely appreciate all the support and leadership provided by the Housing Commission which has made the City of Highland Park a nationally recognized model and leader throughout the region. Please don’t hesitate to contact me at 847-263-7478 ext 22 or ranthony@cpahousing.org with any questions. Sincerely, Rob Anthony President Page 41 of 67 1500 Mccraren, Highland Park (During Rehab) Page 42 of 67 1342 Ferndale, Highland Park (During Rehab) Page 43 of 67 661 Homewood, Highland Park Page 44 of 67 Betsy Lassar Townhomes (937 Deerfield Road) Page 45 of 67  Community Partners for Affordable Housing Highland Park Activity (HPA) - 36 Q3 2025 Q3 2025 Expenses July August September Total 5001-60 Salary - President 2,955.56 2,000.00 1,900.00 6,855.56 5002-60 Salary - VP Real Estate 0.00 0.00 0.00 0.00 5003-60 Salary - Sr. Property Manager 0.00 0.00 0.00 0.00 5034-60 Rental Assistance Coordinator 0.00 0.00 0.00 0.00 5004-60 Salary-Director of Underwriting 93.27 27.38 0.00 120.65 5005-60 Salary-Director of Couns and Ed 0.00 0.00 0.00 0.00 5006-60 Salary - Housing Counselor #1 0.00 0.00 1,550.62 1,550.62 5007-60 Salary - Housing Counselor #2 0.00 0.00 0.00 0.00 5087-60 Housing Counselor #3 0.00 0.00 0.00 0.00 5008-60 Salary-Intake Coord-Homeown 253.83 203.97 57.11 514.91 5009-60 Salary-Intake Coord-Couns & Ed 2,441.05 1,946.66 2,284.35 6,672.06 5010-60 Salary - Director of RE Mgm 0.00 0.00 0.00 0.00 5011-60 Salary - Property Manager 32.32 101.59 149.71 283.62 5012-60 Salary - Director of Dev Com Re 2,385.19 2,555.56 2,129.63 7,070.38 5013-60 Salary - Bookkeeper 0.00 0.00 0.00 0.00 5030-60 Rental Housing Coordinator 205.56 380.14 0.00 585.70 5020-60 Director of Development 0.00 0.00 0.00 0.00 5022-60 Housing Development Associate 984.85 849.83 241.94 2,076.62 5035-60 Director of Operations 0.00 14.91 0.00 14.91 Page 46 of 67 5032-60 Director of Finance 0.00 0.00 13.25 13.25 5033-60 Emergency Assistance Coord 0.00 0.00 0.00 0.00 5037-60 Salary - Floating Intake Coordinator 0.00 0.00 0.00 0.00 5036-60 Property Maintenance Technician 0.00 0.00 0.00 0.00 Salary - Marketing & 5038-60 Communications Manager 0.00 0.00 0.00 0.00 5014-60 HRA Disbursements 40.00 2.51 43.09 85.60 5015-60 Payroll Tax Expense 666.33 614.33 657.68 1,938.34 5016-60 Medical/Dental Benefits 451.54 410.79 451.80 1,314.13 5017-60 Retirement Contribution 330.49 301.80 331.04 963.33 5018-60 Disability & Life Insurance 38.35 34.89 38.37 111.62 5039-60 Workers Comp Insurance 25.31 23.32 24.99 73.62 5019-60 Temporary Services/Consultants 137.80 208.94 12.64 359.38 5021-60 Local Travel 0.00 0.00 0.00 0.00 5040-60 Professional Development - G&A 0.00 0.00 0.00 0.00 5052-60 Accounting Services 0.00 0.00 86.35 86.35 5054-60 Legal Services 6.54 10.49 0.00 17.03 5055-60 Payroll & Benefits Admin 233.53 185.10 200.54 619.17 5056-60 Audit Expenses 0.00 0.00 2,289.67 2,289.67 5057-60 Copier/Printer Supplies & Usage 5.23 4.76 5.23 15.21 5058-60 IT Purchases & Services 13.14 10.23 107.94 131.31 5059-60 Phone Equipment & Usage 56.33 40.77 46.86 143.96 5060-60 Postage Equipment & Usage -10.51 18.36 16.82 24.67 5061-60 Office Supplies 58.94 67.74 87.12 213.80 Page 47 of 67 5062-60 Office Rent 357.28 325.03 357.48 1,039.80 5063-60 Utilities - Electric & Internet 27.87 26.16 28.32 82.35 5064-60 Bank & Credit Card Fees 4.48 1.86 4.79 11.13 5065-60 Insurance 38.40 34.94 38.43 111.77 5066-60 Meeting Expenses 8.47 82.62 36.81 127.89 5067-60 Marketing - General 206.92 3.80 118.57 329.29 5069-60 Dues & Subscriptions 72.10 10.64 19.29 102.03 5070-60 Corporate Expenses 14.93 9.64 9.99 34.56 5074-60 Recording Fees - Other 0.00 0.00 -3.90 -3.90 5075-60 Events 744.23 0.00 12.03 756.26 5077-60 Credit Reports - Other 0.00 0.00 0.00 0.00 5080-60 Loan Administration Fees-Other 0.00 0.00 0.00 0.00 5098-60 Depreciation 212.68 188.39 207.19 608.26 5099-60 Miscellaneous Expense 0.00 0.00 0.00 0.00 66000 Payroll Expenses 0.00 0.00 0.00 0.00 69800 Uncategorized Expenses 0.00 0.00 0.00 0.00 5053-60 Answering Service 2.81 3.06 2.81 8.69 5021-60 Travel - Other 0.00 0.00 0.00 0.00 5040-60 Professional Development - G&A 0.00 16.97 0.00 16.97 5071-60 Taxes Other 2.51 0.15 0.00 2.66 5076-60 Fundraising Events 0.00 0.00 0.00 0.00 66900 Reconciliation Discrepancies 0.00 0.00 0.00 0.00 5083-60 Other Direct Project Costs 0.00 0.00 0.00 0.00 5110-60 Interest Expense 0.00 0.00 0.00 0.00 5110-60 Total 13,097.34 10,717.32 13,558.57 37,373.23 Page 48 of 67  THE HIGHLAND PARK HOUSING COMMISSION RESOLUTION NO. 07-2025 A RESOLUTION AUTHORIZING DISBURSEMENT FROM THE HOUSING TRUST FUND OF A PAYMENT TO COMMUNITY PARTNERS FOR AFFORDABLE HOUSING EXPENSES FOR 2025 OPERATING GRANT WHEREAS, the Highland Park Housing Commission ("Commission") is an independent municipal corporation created pursuant to Section 33.1101 of "The Highland Park Code of 1968," as amended ("City Code"); and WHEREAS, pursuant to Section 33.1133 of “The Highland Park Code of 1968,” as amended (“City Code”), the Commission is solely responsible for the City of Highland Park Affordable Housing Trust Fund ("Housing Trust Fund"); and WHEREAS, the purposes of the Housing Trust Fund include: (i) to provide financial resources to address the affordable housing needs of individuals and families of low- and moderate­ income households who live or work in the City by promoting, preserving, and producing long-term affordable housing and related services; and (ii) to provide support for not- for-profit organizations that actively address the affordable housing needs of low- and moderate-income households; and WHEREAS, Community Partners for Affordable Housing (“CPAH”) is a nonprofit organization that develops and preserves permanently affordable housing for low- and moderate- income households; and WHEREAS, on February 5, 2025 CPAH filed a written request with the Commission for grant funding, in the amount of $94,185, to be used by CPAH for operating expenses and general affordable housing activities in the City (“Operating Grant”); and WHEREAS, Section 33.1133(C)(l) of the City Code requires that disbursements from the Housing Trust Fund shall not be made except by the City Finance Director upon the written direction of the Commission by resolution duly adopted; and WHEREAS, the Commission has determined that it will serve and be in the best interest of the Commission, the City, and its residents to approve the Operating Grant and authorize the City Finance Director to disburse funds from the Housing Trust Fund in an amount not to exceed $94,185, via four (4) quarterly drawdowns of $23,546.25 each, for the payment to CPAH pursuant to the Operating Grant, in accordance with the terms and conditions of this Resolution; WHEREAS, on May 7, 2025, the Housing Commission approved Resolution No.03- 2025, authorizing a first disbursement of the Operating Grant in the amount of $23,546.25 to Grantee for eligible activities; and WHEREAS, on September 10, 2025, the Housing Commission approved Resolution No.04-2025, authorizing a second disbursement of the Operating Grant in the amount of $23,546.25 to Grantee for eligible activities; and WHEREAS, the Housing Commission finds that CPAH is in compliance with its Operating Grant; and {00115737.1} Page 49 of 67  THE HIGHLAND PARK HOUSING COMMISSION RESOLUTION NO. 07-2025 NOW, THEREFORE, BE IT RESOLVED BY THE HIGHLAND PARK HOUSING COMMISSION, as follows: SECTION ONE: RECITALS. The foregoing recitals are incorporated into and made a part of, this Resolution as findings of the Highland Park Housing Commission. SECTION TWO: DISBURSEMENT. The Commission hereby authorizes the City Finance Director to disburse $23,546.25 of the Operating Grant to CPAH to reimburse CPAH for the third quarter drawdown as authorized by the Operating Grant Agreement. SECTION THREE: AUTHORIZATION. The Chairman of the Commission and the City Finance Director are hereby authorized and directed to execute such documentation as may be necessary to effectuate the disbursement authorized in Section Two of this Resolution. SECTION FOUR: EFFECTIVE DATE. This Resolution will be in full force and effect upon its passage and approval by a majority of the members of the Housing Commission. AYES: NAYS: ABSENT: RECUSED: PASSED: APPROVED: _________________________________ Isis Fernandez Sykes, Chair ATTEST _____________________________________ Zubin Coleman, Staff Liaison {00115737.1} Page 50 of 67 Page 51 of 67 Page 52 of 67 Page 53 of 67 Page 54 of 67 Page 55 of 67 Page 56 of 67  Planning Division Department of Community Development 1150 Half Day Rd. Highland Park, Illinois 60035 847.432.0808 cityhpil.com October 31, 2025 Good afternoon, Mr. Brown, City Manager Ghida Neukirch forwarded me your August 12th, 2025 email that expressed concern about an insurance carrier allegedly claiming that the publicly-owned units within the Sunset Woods building are affecting the building’s insurance rate. City Staff also shared the October 16th, 2025 email that you sent to Housing Commissioner Shapiro Kopin reiterating similar claims made in the August 12th email. It is important to note that all units within the Sunset Woods building have been both age (62+) and income (affordable) restricted since development in 2002. And that 14 units are publicly-owned (by the Sunset Woods Association, which is a subsidiary of the City’s Housing Commission) is not new, either. The 14 units have been owned by the Association since development. The City is aware from its own experience that insurance rates in the area have indeed increased due to a number of factors within the insurance industry, particularly for buildings with age-restricted status. This is not unique to Sunset Woods, nor unique to publicly-owned units. In other words, the City believes that any increase in insurance rates for Sunset Woods is due to overall industry trends, and not to the mere existence of the 14 units. Again, the nature of ownership and age and income restrictions affecting the overall property is the same now as it has been for over two decades. To that end, neither the City, the Housing Commission, nor the Sunset Woods Association is responsible for the alleged increase. All of that said, the Sunset Woods Association is responsible for paying its share of the insurance cost, in its capacity as owner of the 14 units, through assessed HOA fees. And, of course, as an owner of units in the building, the Association welcomes the opportunity to work with the Sunset Woods Board and its management company to manage and reduce insurance costs to the extent possible. The City can refer the Sunset Woods Condominium Board the insurance brokers that the Housing Commission uses for its annual insurance renewals. Sincerely, Charmain Later Deputy Director of Community Development cc: Sunset Woods Condominium Board fffffffff Housing Commission Page 57 of 67 Page 58 of 67 back together that the place we had ​to move my mother from (she was the 2nd person to move into SWC in 2002 as a renter). ​She cried when she had to move to a nursing home after a few years. She was always ​grateful for SWC and helped the Treasurer keeping the books. ​ ​As you know my credentials span much further than my 20 year membership at the CBOT ​Chief Building HVAC Engineer Honeywell, Maintenance Supervisor Lake Forest Academy ​I retired from City of Evanston Water Dept a Class A IEPA Water. Today because I bore easily ​I work part time from the Spring-Fall at the Botanic Garden as a Model RR Engineer ​and in the Winter as Manager/Zamboni operator of the Weinberg Glencoe Ice Rink. ​In my 20's I lived in the former HP Historical Society Museum as caretaker and served on the Board ​before Bob Robinson passed away in 86. I resigned from the board as I saw the new people ​wanted to go after Bobs legacy....He was a Family Friend and business partner of my father ​The Hawkins Desk in the Hallway at City Hall was given to the Society in 67. ​My picture standing next to the desk was on the cover of the HP News....I lived with the desk in the museum ​where I resided from 1975-86.....It was nice to see again the other night. ​ Page 59 of 67 ​So get to the point Bill ​Its just I feel the need to keep establishing my credentials for some reason. Sorry! ​Result from attacks by some..... ​ ​As a new member of the board here at SWC my first year has been enlightening . ​I am trying to right our financial ship in doing so it was I who discovered the inequity regarding the ​Building Insurance....... ​Everyone else just accepted the prior years massive 144% insurance cost While others without ​Affordable Renters went up under 50%.........and didn't do discovery ​as to why........sadly our former Management company Berkson&Sons never did either. ​Perhaps they were so busy figuring out how to sell his company that our needs were neglected. ​The salient points that I spoke of for our Treasurer were discovered by me. I had to explain them ​several times to the rest of the board AND our inherited Building Manager from Berkson, now with Westward 360. ​ ​1. According to our former Ins. Agent in Houston the rise was solely because of the 14 Rentals of Public Housing ​2. For this year we found slightly less expensive insurance only it has a $25K deductible PER OCCURRENCE ​     ( this has disaster written all over it.....as a former Page 60 of 67 trader we all know that when you are exposed, disaster is Looming) ​WE DO NOT BLAME the CoHP nor our Renters for this....... ​However once the owners find out about the fact that we are funding the excessive cost of insurance because of the renters ​well you can only imagine the animosity. ​2 years ago we got hit with a Quadruple whammy........$40k 2 new boilers, $12k Re Carding the operations of our elevators ​A massive project for the roof and subsequent leaks in 5 apartments that caused a special assessment, and then an extra ​$40k in building insurance..........our reserve fund was destroyed. Pocket books of the owners only and nerves are frayed. ​ ​We are seeking restitution for the extra insurance costs for the past 2 years over what an owners only building would incur ​AND future assistance in securing insurance as you do for Peers and Walnut. ​Working with the CoHP Housing Commission for our Hybrid building of owners and renters can be maintained if this is worked out. ​ ​The bottom line is the paradigm for sharing insurance costs has altered and is need or correction, We need to work with CoHP. ​ Page 61 of 67 Page 62 of 67 Page 63 of 67 ​This has the potential to possibly bankrupt the owners of SWC. ​The 46 Owners are being Charged an excessive amount for Insurance because of our 14 CoHP Rentals We only recently discovered the cause from last year's increase. ​(Please consult the CoHP Affordable Housing web site for a description of Sunset Woods if needed) ​In 2024 our board of managers was suddenly confronted with an August 2024 increase of 144% in Condominium Insurance. ​In digging around by diligence and fear of loss of our homes we have found other Condominiums in the area ​(not affiliated with CoHP Housing Commission) only had a raise of roughly 50% in that year. ​Our 2023 Year we budgeted for roughly a $27,000 and expected increases for the year, (our deductible was $5000) ​ ​SWC last year was alerted to an increased $67,000 bill for Insurance with the David group from Houston TX on the very last day of coverage by Berkson and Sons (our former Management Company) an unsuspected larger increase than ever believed possible by $40000, certainly almost 90% higher than surrounding condominium's. ​(we had used the David Agency via Berkson's oversight for many years prior) ​Our board ONLY recently found out the reason as we were finally given an explanation when the David Ins group ​gave us a quote for 2026 of $74,000 via our new Management company Westward 360. With the below enclosed email from the David Agency. From: Priscilla Crowther Sent: Monday, July 14, 2025 4:29 PM To: < > Subject: Sunset Woods Condo Association 8/5/25 Good afternoon Debbie. Per our conversation last week, the reasoning for the steep increase in the insurance costs for Sunset Woods last year, was the Affordable Housing units in the building. We have been under the impression that the building consisted of 60 residential condos for individuals 62 and older.Last year Greater New York discovered websites listing 14 of the units are Page 64 of 67 actually owned by the City of Highland Park and used as Affordable Housing units. Unfortunately, this fact made the building ineligible for their insurance program and nonrenewed the account for 8/5/24. Having the age restriction on the building significantly limits the insurance companies that are willing to quote the insurance. Having this coupled with also having affordable housing units in the building, drops our options down to almost no options in the standard market. If the building was older, we would definitely only have quote options from the Excess and Surplus insurance markets. Because the building is still on the newer side, sprinklered and well maintained, we were able to get the quote from Philadelphia Insurance last year. They originally declined this, but I was able to get them to offer a quote. Unfortunately, this renewal has not been any easier. Building limit requirements continue to increase to keep up with inflation on Building materials. Rates continue to increase due to increases in claims from hail storms, tornadoes, hail storms, etc. I wish I had better news to report. I understand that the board contacted another insurance agent to try to get quotes because they are upset about the pricing increase. I understand their frustrations. While I would hate to lose your business after 20 years working on this account, I really hope the agent has a silver bullet to get you a great quote. My renewal increase is coming in at 14% I have attached a renewal proposal which includes the renewal comparison and detailed quote for each coverage. Please review and let me know if you have any questions or want to see any changes to this. I’m sorry I don’t have better news on this. Best Regards, Priscilla Priscilla N. Crowther CISR Senior Account Manager The David Agency Insurance, Inc. Page 65 of 67 Page 66 of 67 along with normal repairs and on going maintenance. Our community is 1 disaster away from far worse circumstances. ​46 Owners cannot afford to underwrite 14 CoHP owned rentals. ​ ​For The Board of Managers SWC Diane Stempfel President Margit Nikitas Treasurer Iris Keats Secretary William D Brown Parking Manager William Schneider Asst Parking Manager ​ Page 67 of 67