$34,000,000 with a Cap rate of 7.31%

1. Well over a 7% return per year for 12 years, depending on how much you spend building this project. Buying the land from Majestic and having them build your project out for both acquisition and multifamily apartment construction cost of $34,000,000 is a real great tax incentive in this opportunity zone. The value 120 days after certificate of occupancy with stabilization is $35,500,000 This project would be a minimum 12 year hold and should sell at that time if rents continue as they have been for $39,500,000 for $5,500,000 with no taxation on that gain between the $34,000,000 and the $39,500,000 net $5,500,000 plus $2, 484, 480 per year, income multiplied by ten years is ($24,844,800). This structure additionally allows for an opportunity zone fund to be created that would allow non opportunity zone real estate to receive that same opportunity zone deferred tax status and exempt status under the guidelines for an extra 10%-30% of non oz to be included tax deferred status and tax free under the right conditions and that well exceeds the already 7% return on money per year. 

2. $34,000,000 with a Cap rate of 7.31%

3. Offered at $34,000,000 • The $34,000,000 project has a $35,500,000 value with a 7.% cap rate and is being offered at $34,000,000 with 18 months to complete • Due to being in an opportunity zone Capital Gains can be deferred that are invested in this project • Investor would enter at the land acquisition stage, build out and hold • If held 10 plus years all capital gains between start and sell would be tax exempt • Within one of the worlds greatest economy’s

4. Revenue Strategy • Creating stability and augmenting utility function Annual • 50 4 bedroom 2 bathroom 1200 s’ units @ $1392 per month 835,200 • 100 4 bedroom 4 bathroom 1344s’ units @ $2,000 per month 2,400,000 • * rented by the room @ $500 per room • Total possible rents $3,235,200

5. Single level parking: • 4 bed 2 bath: 50 units 835,200 • 4 bed 4 bath: 100 units 2,400,000 • $3,235,000 • Total residential: 150 units with 200 lockouts • Parking: 225 stalls (1.5 stalls/unit) • Additional possible income • Personal parking stalls, pet rents, deposits, collections, late fees $100,000 +-

6. Proposed Apartment Building Elevation 5 Levels Open Podium Parking on first level Open Podium Parking on ¾ of second level 2 Way traffic in and out of site Using current zone of CC Salt Lake City proposes new higher density

7. Quality ConstructionBy Majestic Builders

8. Majestic Builders 326 unit Project completed in only 14 months The Seller, Commercial General Contractor Majestic Builders offers quality. This project at Jordan Station has underground podium parking in addition to surface parking. At the same price as purchasing a 20-40 year old multi-family complex, you can build and own new.

9. Possible Augmented income Each 4 bedroom 4 bath student/singles apartment rents by the room for $500 a month, totaling $2,000 a month per apartment. These Flex apts have lockouts at each end that can be rented separately as hotel rooms to be used in a nightly available rental pool. The plan below is 1388 s’

11. Tax ADVANTAGES This project is located in an Opportunity Zone You can choose to provide a percentage of Affordable Housing for addition tax savings from both HUD and Utah Housing and still rent to full price markets if you choose. For a 4 bedroom you can charge up to $1,392 and still provide low income housing.

12. More jobsmore peoplemore rentals Majestic Builders is in position to help meet the growing demands of rental housing in Salt Lake City For those buyers that are not cash buyers, Salt Lake City provides gap financing, and we can help direct our buyer that is under contract so that we both win when purchasing our project.

13. Salt Lake City provides Gap Money Up To 95% LTV Steps away from Glendale Golf Course, and with the tax incentives of the Opportunity Zone, and with the new Commercial Corridor Zoning, we expect to see this area transform into a great community with new mixed use and multi-family money being infused all around us. Limits to Assistance:Loan maximums are limited to the demonstrated gap in available financing to cover project costs. Loan amounts will be sized to cover the gap in financing to meet the lower of a debt coverage ratio (DCR) of 1.1 or a loan to value (LTV) of 95%. A DCR of 1.2 or LTV of 90% must be met for primary loans.

14. 100 student/singles apts @ $2k = $240k • 50 4 bed/ 2 bath apts @ 1392

15. Salt Lake Cityless than 3.1% unemployment for 2018

16. Possible New Zoning & Higher Density Our 2.42 acres is on 1700 S and Redwood

18. Utah Housing Corp Why Should Developers Use Tax-Exempt Bonds? Lower interest rates than conventional loans of comparable maturity. Higher loan amounts (greater leverage) due to lower interest rates. Access to greater variety of financing tools.– Variable rate demand bonds to provide greater cash flow.– Derivative products to customize financing to desired risk tolerance. – Provides 25 percent to 30 percent more capital as a source of funds. Access to equity from 4 percent Low-Income Housing Tax Credits (“LIHTCs”).– Provides 25 percent to 30 percent more capital as a source of funds Easier and quicker path to obtain necessary authorization to proceed.

19. Utah Housing providesFair Market statisticsFor Salt Lake County, Utah Market Rent Documentation System The FY 2019 FMRs for All Bedroom Sizes Salt Lake County, Utah is part of the Salt Lake City, UT HUD Metro FMR Area, which consists of the following counties: Salt Lake County, UT. All information here applies to the entirety of the Salt Lake City, UT HUD Metro FMR Area.

20. AdditionalTax advantages MTSPs are projects funded with tax credits authorized under section 42 of the Internal Revenue Code (the Code) and projects financed with tax exempt housing bonds issued to provide qualified residential rental development under section 142 of the Code should use the Income Limits.MTSP Income Limits

21. Low income Housing Tax Credit requires a 4 bedroom unit to rent for less than $1,392 per month And make under $51,840 per year

22. Job growth and migration driving housing crisis As the demand for housing is greatest in Salt Lake City, the latest report notes that current growth won’t be enough to sustain the growing demand.  Despite already allowing for higher density than the rest of the region, the report’s authors argue that Salt Lake City will need to relax its density requirements even more if the city’s housing supply is to catch up to the demand.