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Anderson Estates
Palmyra, Montana
Property Announcement
September 25, 2006

St. Petersburg, FL – Raymond James Tax Credit Funds, Inc. supplied $2,778,472 in LIHTC equity for the construction of Anderson Estates located in Palmyra, MO. This project is being developed in partnership with LRG II, LLC. The property will consist of 62 walk up style apartment units. The apartments range from one to three bedrooms and one to two baths, targeting families who earn less than 60% of the area median income. The property boasts a large community room, central laundry, and playground. All of the construction is on schedule to reach completion by November 2007. Raymond James has been a sponsor of affordable housing for more than 32 years and has been an active participant in the Tax Credit program since its inception in 1986. To date, Raymond James has raised over $1.8 billion in equity and sponsored 40 Tax Credit Funds, with investments in over 1,000 tax credit projects in 43 states.

For additional information please contact Steve Kropf at 800-438-8088 or steve.kropf@raymondjames.com