OAKLAND HOUSING INITIATIVES INC

The organization serves as a managing general partner in foothill family apartments, l.p. ("foothill"), and a special limited partner of lakeside senior apartments, l.p. ("lakeside"). Both own and operate affordable housing apartment complexes in oakland, california. Ohi earns a partnership management fee as compensation for managing the activities of foothill. The partnership management fee amounts to $10,000 annually, and is increased by the same percentage as the increase in the median income for the area where the project is located. Pursuant to the terms of the joint development agreement entered in february 2008 by and between oakland housing initiatives and christian church homes of northern california, the organization earns 20% of partnership and incentive management fee on the harrison street senior housing associates, l.p.