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Fairway Manor
Snowflake, Arizona
Property Announcement
July 17, 2007

St. Petersburg, FL – Raymond James Tax Credit Funds, Inc. supplied $5,996,319 in LIHTC equity for the construction of Fairway Manor located in Snowflake, AZ. This project is being developed in partnership with CDP Holdings, LLC & Hope Development, LLC. The property will consist of 60 town homes. Half of the town homes are 2 bedroom/1.5 bath, the other half are 3 bedroom/2 bath. Twenty-five of the units target families earning less than 40% of the area median income, 31 units are for families earning less than 50% and the remaining 4 are for families earning less than 60%. The property boasts a picnic area, business center and social services. All of the construction is on schedule to reach completion by December 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 risen over $1.8 billion in equity and sponsored 40 Tax Credit Funds, with investments in over 1,000 tax credit projects in 43 states.