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Dogwood Crossing Apartments
Orangeburg, South Carolina
Property Announcement Report
May 31, 2006

St. Petersburg, FL – Raymond James Tax Credit Funds, Inc. supplied $5,752,214 in LIHTC equity for the construction of Dogwood Crossing Apartments located in Orangeburg, South Carolina. This project is being developed in partnership with Connelly Development, LLC. The property will consist of seventy-two townhome style apartment units. The townhomes are two and three bedrooms, and are targeting families who earn less than 60% of the area median income. The property boasts a large community room, playground, and fitness center. All of the construction is on schedule to reach completion by March 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 raised over $1.4 billion in equity and sponsored 33 Tax Credit Funds, with investments in over 1,000 tax credit projects in 43 states.

For additional information please contact Steve Kropf at 800-438-8088 or steve.kropf@raymondjames.com