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EXHIBIT 3 <br />First Street Apartments <br />Project Schedule <br />Milestone Date <br />City Council Approval of Project Based Section 8 Vouchers 5/5/2015 <br />Escrow Land Closing Date 8/31/2015 <br />Planning Commission Approval of Entitlements _ 3/28/2016 <br />Estimated 9% Tax Credit Application Submittal 6/28/2017 <br />[ Estimated 9% Tax Credit Allocation Award 9/20/2017 <br />Estimated Tax Credit Partnership Closing 2/28/2018 <br />Estimated Construction Start 2/28/2018 <br />Estimated Construction Completion 9/1/2019 <br />