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3rdand BroadwayPBA/CDANovember 17, 2020Slide 17Criteria for Conversion of Hotel to Residential• During the first 5 years, but not sooner than 2 years, certain economic criteria will be set to allow for conversion• Can request to be converted to residential if the revenue per available room falls below the amount as follows:• 2 years less than $125• 3 years less than $125• 4 years less than $125• 5 years less than $125