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City Manager <br />January 19, 2016 <br />Estimated Rent Limits on Rent Restricted Unit and Income Level <br />1 Bedroom 2 Bedroom <br />30% AMI <br />$207 <br />$ - - -- <br />50% AMI <br />$403 <br />$470 <br />60% AMI <br />$502 <br />$675 <br />Market Rate <br />$700 <br />$850 <br />Estimated Income Level Limits <br />AIVII 70 <br />1 PERSON <br />2 PERSON <br />3 PERSON <br />4 PERSON <br />30 <br />$ 11,010 <br />$ 12,600 <br />$ 14,160 <br />$ 15,720 <br />50 <br />$ 18,350 <br />$ 21,000 <br />$ 23,600 <br />$ 26,200 <br />60 <br />$ 22,020 <br />$ 25,200 <br />$ 28,320 <br />$ 31,440 <br />III. Experience of Development Team: <br />The Brownstone development team is a family owned and operated real estate development <br />group that was formed in 1971 by William L. ( "Bill ") Brown. Over the past 40 years Bill's <br />affiliated companies have planned, developed and constructed over 12,000 housing units. Over <br />4,000 of those units have been developed in partnership with Bill's three sons (Jed, Doak & Wil) <br />and Jeremy Mears since 2005. <br />The Brown family members and Jeremy Mears have worked diligently to create a team of real <br />estate professionals for development and construction. Brownstone is served by capable project <br />managers, construction managers, project superintendents, and office staff. The complete group <br />of partners, employees and consultants bring extensive experience and broad knowledge to the <br />Brownstone group's team. Brownstone intends to use these relationships and quality design in <br />the creation and construction of Paris Senior Village. Please see attached resume describing the <br />Brownstone development team and portfolio of its recent senior developments. <br />3 <br />