Charleston Redevelopment Corporation

“The 990 was distributed, discussed, and voted on by the board prior to filing.”

“A director with a conflict of interest must disclose the nature of the conflict and provide a written statement to the president of the board prior to any action of the board on the issue for which the director has a conflict of interest. Such statement will be read and will be incorporated as part of the official minutes for the meeting. Further, the involved director must recuse himself/herself from any discussion, deliberation, and voting related to the issue which presents a conflict of interest.”

“The finance committee is charged with annual budget review including ceo compensation.”

“The organization makes these documents available upon public request at its corporate offices.”

“Line 4a: - the crc's approach to affordable homeownership is a community focused effort. Our dedication to the community is highlighted by our board, which maintains 1/3 representation by low to moderate income persons or residents of low income neighborhoods. - community control of land is maintained where the trust retains ownership of the land and conveys ownership of the improvements to an individual via a 99-year long-term renewable ground lease that can be inherited by future generations. - single family detached and multi-family housing is removed from the speculative market to restrict price appreciation and to maintain long-term affordability, both in ownership and rental housing. - preserves public and private subsidies by managing price appreciation, retaining community value, and recycling the subsidy, land, and affordable units for future generations. The resale price of pclt properties is capped by a formula to ensure affordability remains with the property owner. - allows local control of the community's housing future to build a long- term relationship with homeowners. - large scale development is possible through joint venture development and public-private partnerships.”