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Louisville Authority <br />Preliminary Recommendations <br />• Consider any opportunity for consolidation in a larger system or acquiring/developing new property <br />near existing units can offer opportunity for operational efficiency. <br />> Examine sale of Lilac Place and/or Regal Court 1I. While there is likely little "equity" to be <br />returned, at least the "risk" capital of debt burden properties could be re- deployed. <br />> Alternatively, consider restructuring Lilac Place and Regal Court 1I debt into a longer amortization <br />loan, possibly by combination of these properties with new acquisition or development (potentially <br />including Hillside Square), or <br />> Consider disposition of Hillside Square as a public housing asset, possibly in order to assist in <br />acquisition or development of additional property. <br />> Begin planning the wind -up of the Lydia Morgan tax credit partnership and explore the possibility of <br />an early exit of the investor in East Street now that the tax credits have been earned at this property. <br />> At a minimum, examine East Side debt to lower the first mortgage interest rate. <br />5 <br />