City Homes Inc Celebrating 20 years of providing

City Homes, Inc. Celebrating 20 years of providing affordable housing to Baltimore families

City Homes Accomplishments City Homes and its affiliates own or manage 480 units of affordable housing, mostly in inner-city neighborhoods. n Rents average $390 per month. This is well below the rents other landlords charge for comparable units. n The vacancy rate has historically averaged under 1. 5%, well below market standards. n City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes tenants and rents City Homes serves very low income tenants: Over 40% of City Homes households have incomes below 30% of area median. n 23% of City Homes households have Section 8 subsidies; the remainder pay below market rents. n City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes Accomplishments (continued) CITY HOMES IS A MODEL LANDLORD… n Its units are modest, and they are better maintained and less expensive than comparable units owned by private investors. n City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes Accomplishments (continued) CITY HOMES IS FINANCIALLY SELFSUFFICIENT…. n Its rents and management income cover all operating and administrative expenses and debt service, AND funds healthy reserves. n City Homes relies on reasonable management fees and a highly efficient operation to stay financially healthy. n City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes properties: Alley street in 500 block of North Duncan Street. City Homes owns all houses in this block. City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

Another view of 500 block of North Duncan Street, where City Homes owns all houses in the block. City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes properties: City Homes owns one of the houses in this row, the 2000 block of East Lafayette Ave. City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes property: 1030 North Collington Street. City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

What our tenants say about us “You have been a blessing! I enjoyed every bit of it. ” (Sylvia Gaines, 10+ year tenant of City Homes Project III) n “Maintenance issues are addressed on time, and I appreciate the patience with rent issues. ” (Lavonnya Barnes, 5 year tenant of Newington) n City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes property: 2237 Prentiss Place City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

More quotes from City Homes tenants “I recommend you to people all the time. ” (Cynthia Smith, 5 year tenant of City Homes West) n “Best landlord I've ever had. ” (Brandy Shields, 11 month tenant of City Homes West) n City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes properties: Bretton Terrace, 4 buildings in 3700 of Greenmount Avenue, funded with Section 8 Moderate Rehab. City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes property: Peabody Heights, former religious school rehabilitated into housing for seniors and disabled people, with below market rents. City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes properties: Johnston Square, at East Eager and Homewood Streets, new construction with below market rents. City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

Neighborhood art at North Patterson Park and Henneman Avenues, in East Baltimore, near many City Homes properties. City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore

City Homes office: 330 East 25 th Street City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore