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<br /> <br /> 17 <br />Bowen National Research <br />155 E. Columbus Street, Suite 220 <br />Pickerington, Ohio 43147 <br />(614) 833-9300 <br />It is important to reiterate, however, that the information contained within this <br />preliminary report as it relates to existing conventional Tax Credit product in and near the <br />Mounds View Site PMA is based on a telephone survey of area apartments. <br />Additionally, an on-site visit was not conducted to evaluate the proposed subject site’s <br />location. An in-person evaluation of the subject site location and Mounds View rental <br />market could potentially reveal site attributes that could positively or negatively impact <br />marketability of the subject development, while also potentially revealing additional <br />comparable properties which could impact the findings of this report. Nonetheless, we <br />believe sufficient evidence exists to conclude that a market exists for a new family- <br />oriented (general-occupancy) LIHTC property within the Mounds View market. <br /> <br />We hope you find this information useful. Please call us if you have questions or need <br />additional information regarding this matter. <br /> <br />Sincerely, <br /> Craig Rupert <br />Bowen National Research