1122 & 1126 Lafayette Avenue Condominium

Amendment 2 Nov 30, 2020

Plan declared effective after 18% of units contracted; floor plans revised to as-built condition; no gas service; one unit price increased.

• Plan declared effective November 30, 2020 based on 3 units contracted (18% of 16 units)
• Price of 1126 Lafayette Avenue, Unit 1A increased to $499,000.00
• No gas service in building; electrical power only
• Revised floor plans reflect as-built condition
• Updated Schedule A, Schedule B-1, and utility costs
• 4 units now in contract: Unit 4C at 1122 Lafayette Avenue; Units 1A, 1B and 3B at 1126 Lafayette Avenue
• Schedule A prices increased for 1 home (median +4.2%): 1A $479,000 → $499,000

Amendment 1 Aug 17, 2020

First year of condominium operation changed from July 1, 2021 through June 30, 2022 to January 1, 2021 through December 31, 2021, with revised real estate tax assessment.

• First year of operation: January 1, 2021 through December 31, 2021 (changed from July 1, 2021 through June 30, 2022)
• Construction substantially completed by November, 2020
• First year tax assessment: $86,400.00 (blended preconstruction and post-construction rates)
• Post-construction assessed value at completion: $1,000,000.00
• Post-construction tax levy projection: $128,000.00
• Schedule A revised with 18 residential units and total offering prices of $14,062,000.00
• No units in contract, no units leased, all units vacant