February 26th, 2016

To authorize Austin Colorado Creek GP, LLC to participate in the development and operation of the proposed 316-unit Colorado Creek Apartments project in Austin, including approval of the debt financing, equity financing, ground lease and other agreements, and execution of related documents.

To authorize Austin Colorado Creek Apartments, L.P. to participate in the development and operation of the proposed 316-unit Colorado Creek Apartments project in Austin, including approval of the debt financing, equity financing, ground lease and other agreements, and execution of related documents.

To authorize Strategic Housing Finance Corporation to participate in the development and operation of the proposed 316-unit Colorado Creek Apartments project in Austin, including debt financing, equity financing, property acquisition, ground lease and other agreements, and execution of related documents.