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McKenzie Court Redevelopment
Tuscaloosa, AL
Property Announcement Report
September 13, 2007

St. Petersburg, FL – Raymond James Tax Credit Funds, Inc. supplied $18,039,833 in LIHTC equity for the construction of McKenzie Court Redevelopment located in Tuscaloosa, AL. This project is being developed in partnership with Hollyhand McKenzie Developer, LLC. The property will consist of 112 apartment units. The homes are from one to three bedrooms, with 90% of the units targeting families earning less than 30% of the AMI, and the rest earning up to 60%. The property boasts balconies, a picnic area, social services, and a day care facility. All of the construction is on schedule to reach completion by December 2008. 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 $1.9 billion in equity and sponsored 43 Tax Credit Funds, with investments in over 1,100 tax credit projects in 43 states.