August 1st, 2025 VIA E-MAIL TRANSMISSION Jan Carpenter Latham, Luna, Eden & Beaudine, LLP RE: Request Update – Kissimmee, FL Dear Osceola County Housing Finance Authority, Kissimmee Leased Housing Associates V, LLLP is seeking to amend our bond application submitted on 4/14/25 for the requested allocation of $49,000,000 in tax-exempt bonds, In connection with our bond allocation request, we are requesting a 100% real estate property tax exemption for the proposed community via a 99-year affordability election in the Bond LURA. The 99-year affordability period election would be consistent with the applicable sections of HB 7031 (Sections 196.195 and 196.196). We also request that the respective Bond LURA adopt the same affordability and penalty provisions recognized by Florida Housing Finance Corporation (FHFC), to ensure consistency with FHFC’s implementation of the statute. Further, the underwriting materials submitted as part of our initial bond application, “16. Detailed Pro Forma” is being amended to show a request for a full property tax exemption. Please reference “Exhibit A” below for the amended excerpt from the bond application that shows a full property tax exemption. Sincerely, Devon Quist Vice President & Project Partner 2025 Osceola County Housing Finance Authority Open Cycle Tax-Exempt Bond Application Exhibit A – First Year Pro Forma Income & Expense Analysis A screenshot of a document AI-generated content may be incorrect. August 1st, 2025 VIA E-MAIL TRANSMISSION Jan Carpenter Latham, Luna, Eden & Beaudine, LLP RE: Request Update – St. Cloud, FL Dear Osceola County Housing Finance Authority, St. Cloud Leased Housing Associates IV, LLLP is seeking to amend our bond application submitted on 02/18/2025 for the requested allocation of $105,000,000 in tax-exempt bonds, In connection with our bond allocation request, we are requesting a 100% real estate property tax exemption for the proposed community via a 99-year affordability election in the Bond LURA. The 99-year affordability period election would be consistent with the applicable sections of HB 7031 (Sections 196.195 and 196.196). We also request that the respective Bond LURA adopt the same affordability and penalty provisions recognized by Florida Housing Finance Corporation (FHFC), to ensure consistency with FHFC’s implementation of the statute. Further, the underwriting materials submitted as part of our initial bond application, “16. Detailed Pro Forma” reflect and support this request for a full property tax exemption. Please reference “Exhibit A” below for a relevant excerpt from the bond application for your reference. Sincerely, Devon Quist Vice President & Project Partner A screenshot of a construction project AI-generated content may be incorrect. Signature - Devon Quist 2025 [Osceola County] Housing Finance Authority Open Cycle Tax-Exempt Bond Application Exhibit A – First Year Pro Forma Income & Expense Analysis September 15, 2025 Devon Quist, Vice President & Project Partner Development, Southeast Region Dominium 401 E. Jackson Street, Suite 3300 Tampa, FL 33602 Re: Gap Funding Commitment in the Amount of $2.5 Million for New Construction Multi-Family Development – Parcel ID# 17-26-30-0000-0055-0000 & 16-26-30-0000- 0125-0000 (2929 Clay Whaley, St. Cloud, FL 34772) Dear Mr. Quist: Osceola County, as one of the fastest-growing counties in Florida, recognizes the importance of addressing affordable housing needs and continues to demonstrate its commitment through partnerships that create meaningful housing opportunities. Your proposed Clay Whaley development, consisting of 402 affordable units for families, will help close critical gaps in housing options for low-income households. The project is seeking financial support from the Florida Housing Finance Corporation (FHFC), including 4% Low Income Housing Tax Credits (LIHTC) as well as other private and bond financing. However, due to rising construction and labor costs, the development has experienced a funding shortfall and has requested County support to ensure completion. Osceola County will commit to providing a loan in the amount of $2,500,000 to the project. The funds will be distributed over two County Fiscal Years, FY 2026 and FY 2027, pursuant to a contract and funding schedule to be negotiated. Funds will be made available for construction on a draw basis, subject to availability and as set forth below. Subject to final approval by the Board of County Commissioners, the loan shall be nonrecourse, non-amortizing, with a term of fifty (50) years, and shall bear zero percent (0%) interest throughout the loan term. Upon maturity, the Borrower shall repay the loan balance in full. The Promissory Note shall include a provision for full loan forgiveness, exercisable at the sole discretion of the Lender at the end of the loan term. The loan will be subordinate to the first mortgage construction and permanent financing, as well as any loan funds provided by FHFC through the LIHTC program. Please note that County funds may be derived from multiple sources and are subject to fiscal year availability and any regulatory requirements tied to the respective funding sources. This commitment is expressly conditioned upon the development’s successful closing on the 4% LIHTC financing no later than December 31, 2026. If this condition is not met, the County’s commitment shall automatically terminate, and no funds will be disbursed. If you have any questions or require additional information, please contact Ms. Danicka Ransom, Housing & Community Services Director, at (407) 742-8418. Best Regards, Viviana Janer, Chairwoman Balsam Green is proposing a new construction development consisting of a 300 unit, fourstory housing community located at 2231 Fortune Road, Kissimmee, FL 34744. The project is designed to meet the growing demand for high-quality affordable housing in Kissimmee, FL. Balsam Green will request up to $40,000,000 in tax-exempt bonds. The community will offer a wide array of features to support both working families and individuals. Planned community features include a fully equipped fitness center, business center, community rooms, grilling and picnic area, a garden, and a dog park among several other amenities. Apartment interiors will include modern, durable, and attractive features such as patios/balconies, walk-in closets, and energy efficient, fully equipped kitchens. The goal of the project is to create a safe, affordable, and welcoming building where residents can unwind and enjoy all the features it offers. The following table outlines the anticipated development timeline of the property located at 2231 Fortune Road, Kissimmee, FL 34744. A list of items with text AI-generated content may be incorrect. A screenshot of a construction project AI-generated content may be incorrect. A screenshot of a spreadsheet AI-generated content may be incorrect. A graph with numbers and symbols AI-generated content may be incorrect. A screenshot of a computer AI-generated content may be incorrect. A document with numbers and text AI-generated content may be incorrect. A close-up of a graph AI-generated content may be incorrect. A screenshot of a document AI-generated content may be incorrect. AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT THIS ASSIGNMENT AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT (“Assignment”) is entered into and effective as of September 10, 2025, by and between BALSAM GREEN ACQUISITIONS LLC, a Delaware limited liability company (“Assignor”), and BG KISSIMMEE OWNER 1 LP, a Florida limited partnership (“Assignee”). WITNESSETH: WHEREAS, Assignor entered into that certain Purchase and Sale Agreement dated as of August 21, 2025 (the “Agreement”), with Iglesia Bautista Central De Kissimmee, Inc., a Florida not for profit corporation, regarding the purchase of that certain real property located in the City of Kissimmee, Florida, as described in more detail in the Agreement; WHEREAS, pursuant to Section 11 of the Agreement, Assignor is authorized to assign all of its rights under the Agreement; and WHEREAS, Assignor now desires to assign its rights under the Agreement to Assignee and Assignee desires to accept the same; AGREEMENT NOW, THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties do covenant and agree as follows: 1. Any capitalized term not defined herein shall have the meaning given to it in the Agreement. 2. Assignor does hereby transfer, assign, convey and grant to Assignee all Assignor’s right, title, and interest under the Agreement. 3. Assignee, for itself and its successors and assigns, hereby assumes all right, title, and interest of Assignor under the Agreement and agrees to be bound by all of the terms, conditions, obligations and restrictions relating to the Agreement and agrees to fully, promptly and properly perform, observe, satisfy and discharge all of the terms, conditions, obligations and restrictions of the Agreement. 4. This Assignment may be executed in counterparts and facsimile or pdf signatures shall be deemed to be originals. (Signature Page to Follow) 40519446v1 Docusign Envelope ID: A69E6BBD-C206-42E2-AF92-E9BF6D63F507 IN WITNESS WHEREOF, the parties have caused this Assignment to be executed on their behalf effective as of the day and year first above written. A list of items with text AI-generated content may be incorrect. a Delaware limited liability company LLC, a Delaware limited liability company By: ______________________________ Name: Mark Laverty Its: Authorized Signatory ASSIGNEE: BG KISSIMMEE OWNER 1 LP, a Florida limited partnership By: BG Kissimmee MM 1 LLC, a Delaware limited liability company Its: General Partner By: ______________________________ Name: Christopher Barnes Its: Manager Docusign Envelope ID: A69E6BBD-C206-42E2-AF92-E9BF6D63F507 Signature - Chris BarnesSignature - Mark Laverty Balsam Green expects to receive 16 points on the application. The 16 points are comprised of two (2) points from Public Bus Stop 1 (28.304391, -81.354921) which is 0.13 miles away from the DLP. Public Bus Stop 2 scores 2 (two) points and is 0.12 miles away (28.304197, -81.354630) from the DLP. The remaining 12 points are comprised of a grocery store, pharmacy, and a public school. The selected grocery store is Key Foods Supermarket located at 2340 Fortune Road, Kissimmee, FL 34744. Key Foods Supermarket scores four (4) points. The selected pharmacy is Walgreens Pharmacy located at 2274 Fortune Road, Kissimmee, FL 34744. The Walgreens Pharmacy scores four (4) points. The selected public school is Cypress Elementary School located at 2251 Lakeside Drive, Kissimmee, FL 34743. The selected public school scores four (4) points. All scoring locations are measured from the following coordinates (DLP): 28.305329, -81.353122. It is assumed that Balsam Green will receive the Local Government Contribution. The SAIL Leverage Per Unit for a Non-ESS, Mid-Rise Style building is assumed to be $24,420 per unit. SAIL Funds Requested $7,500,000 A Housing Credit Basis Boost 1.11 B Subtotal $8,325,000 C A * B = C New Construction, Non-ESS, Mid Rise 0.8800 D Subtotal $7,326,000 E C * D = E Total Units 300 F SAIL Funds Leverage Per Unit $24,420 G E / F = G Exhibit A. Proximity Scoring Charts A screenshot of a service list AI-generated content may be incorrect. A screenshot of a computer AI-generated content may be incorrect. A white and black checklist AI-generated content may be incorrect. The following photo is the site outline of the parcel located at 2231 Fortune Road, Kissimmee, FL 34744. A aerial view of a neighborhood AI-generated content may be incorrect. Align the future. ReAlign the past. Customized ADA Compliant Website Proposal for: Osceola County HFA October 15, 2025 Project Scope Website Design Overview 1. Project Background and Description Osceola County HFA (the client) is seeking an ADA compliant website. 2. Project Scope ReAlign Web Design (the company) will create and design a new website for the client. The website will aim to portray the client in a professional image while serving several functions such as; district information center, document storage, Florida statute requirement fulfillment, and ADA compliance. The website will have standard security including antivirus, firewall and SSL encryption. The website will be compliant with Section 508 of the Americans with Disabilities Act (ADA) and will maintain a conformance level of AA with the Web Content Accessibility Guidelines 2.1 (WCAG 2.1). The project is considered finished when the client is satisfied with the implementation of the website provided, within reason. The company will provide an invoice upon completion and implementation of the website. Any further revisions beyond the finished website may be subject to a fee. 3. Deliverables The company: One completed website, site content and images, website security, antivirus and firewall, SSL implementation, domain transfer (if necessary), DNS and hosting setup, ADA Section 508 compliance and WCAG 2.1 AA conformity. The client: Payment upon completion and invoice receipt and any content required to complete the project within the scope of work including proprietary property. 4. Price - $1,750 Upon Completion The company will bill $1,750 upon completion of the finished website and acceptance by the client. 5. High-Level Timeline/Schedule The company will utilize best efforts to deliver the completed website within one month of an executed agreement and authority to proceed. Demo Content – Everything is Customized Custom Website Design Featuring a welcome page with public information, community features and documents. Document Storage Quickly search, find, and download community documents like budgets, notices, and more. Community Information Display the current board, meeting notices, and other important information. Easy Contact Custom contact options that notify the board and/or management company. Indemnification: The Company warrants that all accessibility compliance seals warrant a passing grade from the UserWay accessibility testing widget at the time of testing according to the standards set forth by UserWay. The Company does not independently verify the accuracy of accessibility tests. The Client specifically recognizes and acknowledges that ADA Section 508 guidelines and WCAG 2.1 guidelines are constantly changing and that at the time of this Agreement there is no single definitive authority on digital accessibility standards. Upon acceptance of the completed website, the Client assumes title to the website along with all responsibility for maintaining ADA 508 and WCAG 2.1 conformity and compliance. At the moment of transfer of title of the website to the Client and thereafter in perpetuity, the Client shall indemnify, defend and hold Company and its owners, shareholders, officers, directors, partners, partnerships, affiliates, subsidiaries, divisions or employees, authorized agents, independent contractors and permitted assigns (“Company Indemnified Parties”) harmless from and against any and all claims, suits, actions, demands, and proceedings of any kind (“Claims”), threatened, asserted or filed against Company or any and all Company Indemnified Parties by any third party, and any damages, losses, expenses, liabilities or costs of any kind (including but not limited to reasonable attorneys' fees, witness fees and court costs) which may be incurred in connection with such Claims (including those necessary to successfully establish the right to indemnification), regarding non-compliance with any ADA Section 508 guidelines and WCAG 2.1 guidelines or similar regulations and cannot be held liable for any lawsuits arising therefrom. Approval and Authority to Proceed We approve the project as described above and authorize the team to proceed. Service Acceptance Website creation - $1,750 one-time fee ADA Compliance Audits - $960 annually Approved By Date TM n d For Participation in the Local Government Surplus Funds Trust Fund ) WHEREAS, _____________________________________________________________ (“Participant”) is (check one or more, as applicable) [.] a governmental entity within the State of Florida not part of state government, including, without limitation, the following and the officers thereof: any county, municipality, school district, special district, clerk of circuit court, sheriff, property appraiser, tax collector, supervisor of elections, authority, board, public corporation, or any other political subdivision of the State of Florida, as described in Section 218.403(11), Florida Statutes and as authorized by Sections 218.407 and 215.44 (1) Florida Statutes; [.] a state agency as described in Section 216.011, Florida Statutes, as authorized by Section 215.44(1), Florida Statutes; [.] a Board of Trustees of a state university or college, as authorized by Section 215.44(1), Florida Statutes; or [.] a direct support organization of any of the foregoing, as authorized by Section 215.44(1), Florida Statutes. and is empowered to delegate to the State Board of Administration of Florida the authority to invest legally available funds in the Local Government Surplus Funds Trust Fund (Florida PRIME) and to act as custodian of investments purchased with such investment funds; and WHEREAS, it is in the best interest of the Participant to invest its legally available funds in investments that provide for safety, liquidity, and competitive returns with minimization of risks consistent with Chapter 218.405, Florida Statutes; and WHEREAS, the Florida Local Government Surplus Funds Trust Fund (Florida PRIME), a public funds investment pool, was created on behalf of entities whose investment objectives, in order of priority are safety, liquidity, and competitive returns, consistent with the Chapter 218.405, Florida Statutes. C. That this Authorizing Resolution shall continue in full force and effect until amended or revoked by the Participant and until Florida PRIME receives an original document of any such amendment or revocation. This resolution is hereby introduced and adopted by the Participant at its regular/special meeting (if applicable) held on the _____ Day of ________________________, 20 _____. PARTICIPANT NAME: __________________________________________________ BY: Signature __________________________________________ Printed Name __________________________________________ Title __________________________________________ : ATTEST: Signature _________________________________________ : Title _________________________________________ Hallmark Portfolio Occupancy Reporting Seltzer Management Group Report Period Ending: June 30, 2025 REPORT MONTH Number OCCUPANCY DETAIL OTHER DETAIL Footnotes Comments of Units ALL Low Income Units Number of Units Number of Units (All Checked Resi- Occupied Number Set-Aside Percentage by MFI Percentage Category Exceed Quantum FHFC Vacant Vacant that By Total dential # Units % Actual Minimum of Req'ment Below 35% 35% 40% 50% 60% 80% 140% Cap NC At Risk MR Rcvd Exempt Apply) (Initials) 48 48 43 90% 43 20 215% 43 4 1 VB No 2025 Quantum report has been received 43 43 36 84% 36 18 200% 36 6 1 VB No 2025 Quantum report has been received 40 40 40 100% 40 16 250% 40 VB Quantum Report received 7/15/2025. Report was conducted on 6/15/2025. No reported issues. 41 41 40 98% 40 17 235% 40 1 VB No 2025 Quantum report has been received 51 51 49 96% 49 21 233% 49 1 1 VB Quantum Report received 7/15/2025. Report was conducuted on 5/21/2025. No reported issues. Development County Village Chase Pasco Village Walk Pasco Water Oak Volusia Wildwood Terrace Sumter Woodland Terrace Osceola 2nd qtr 2nd qtr 2nd qtr 2nd qtr 2nd qtr FOOTNOTES - Indicate ALL that apply Non-compliance with Set-aside Requirements * 2 Lower Income (LI) * 3 Quantum High Risk * 4 RD Management Report Noncompliant