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Pineview Apartments
Herrin, Illinois
Property Announcement Report
July 23, 2007

St. Petersburg, FL – Raymond James Tax Credit Funds, Inc. supplied $5,048,553 in LIHTC equity for the construction of Pineview Apartments of Herrin located in Herrin, IL. This project is being developed in partnership with Herrin Affordable Housing, Inc. The property will consist of 50 duplex units. The duplexes range from one to three bedrooms, and are targeting families who earn less than 60% of the area median income, with 10 units dedicated to families earning less than 40% of the area median income. The property boasts a clubhouse, playground and on-site laundry facility. All of the construction is on schedule to reach completion by October 2007. Raymond James has been a sponsor of affordable housing for almost 40 years and has been an active participant in the Tax Credit program since its inception in 1986. To date, Raymond James has risen over $1.8 billion in equity and sponsored 40 Tax Credit Funds, with investments in over 1,100 tax credit projects in 43 states.