Seventy-Five North Revitalization Corporation

“A draft of the form 990 is reviewed by the executive director and chairman of the board for accuracy. If any changes are advised, these are made and the return is then filed after final approval.”

“All members of the board are subject to a duty to disclose all actual or possible conflict of interests to the board at all times. The director will recuse himself or herself from involvement in any decision or discussion in which he or she has or may have a conflict of interest.”

“Annually, the chairman of the board makes a recommendation to the board of directors for the compensation of the executive director. The salary is based on matters of performance and comparability data from the surrounding area which is presented to the board of directors. Board approval is required for the determination of the executive director's compensation. No other officers or key employees are compensated by the organization.”

“Governing documents, conflict of interest policy, and financial statements are made available upon request.”

“Impairment loss -1,838,960.”

“Under the terms of the operating agreement for highlander phase 1, llc, one of its members, 75nhp1, llc, must make an election under irc section 168(h)(6)(f)(ii). A related party, seventy-five north revitalization corporation, shall attach a copy of the following tax election made by 75nhp1, llc to its form 990 tax return in the year of election. The election is effective in the year ended december 31, 2016 and states the following: 75nhp1, llc 4383 nicholas street, suite 204, omaha, ne 68131 ein: 35-2563983 election not to be treated as exempt entity irc section 168(h)(6)(f)(ii) the taxpayer hereby elects to have any gain recognized by its tax-exempt parent on any disposition of an interest in the taxpayer (and to treat any dividends or interest received or accrued from the taxpayer) as unrelated business taxable income under code section 511 in order for the taxpayer to not be treated as a "tax-exempt entity" (or a successor tax-exempt entity) under irc section 168(h)(6)(f)(ii). This election is effective on july 1, 2016. This election is irrevocable.”