Background

1
Background

• Original project experienced construction cost
  overruns and failed to meet schedules leading to
  lenders stop of construction funding
• Previous owners entered into a consensual sale
  process with the lenders and the AF proceeding
  with Hunt Pinnacle
• AF successful history with Hunt Pinnacle leads to
  new deal
• 5 November 2008 Sale of Hanscom Family Housing
  to HP Communities LLC occurred
• All housing managed by HPC via a 50-yr ground
  lease
• Existing occupants will enter a lease with HPC
  and will be grandfathered under current rent and
  pet policies

2
Pinnacle MHPI Experience
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? Falcon Group
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Currently managing over 26,000 Military Homes
3
Rent Structure

• Lease Dated on or before November 4, 2008
• Rent is paid in arrears at end of each month
• PCSing no money owed at time of move-out
  allotment will be stopped on the 1st of the
  following month. Any refund due will be mailed to
  the resident
• Separating or Retiring prorate owed at the time
  of move out. No refund will be given

4
Rent Structure

• Lease dated after November 4, 2008
• Rent is due on or before the 1st of each month
• Prorated and first full months rent due at move
  in
• Refunds will be issued 30 days after move out for
  portion of month resident does not live there
• Advance pay options to assist resident
• Payment plans with The Landings at Hanscom
• Coordinate through Finance and Chain of Command

5
Landscaping

• All common areas are the responsibility of HPC
• All vacant homes will be maintained by HPC
• Resident responsible for mowing and watering of
  lawns
• Lawnmowers will be available for check-out
  through maintenance office
• Tree trimming will be done in the Spring and as
  needed
• Residents are responsible for removal of all
  limbs from their yards
• Spring and Fall Scheduled clean-up
• Spring Flowers provided to residents to beautify
  lawns
• HPC will perform neighborhood-wide clean-up of
  debris and mulch as needed

6
Renovations and Conversions

• Location
• Renovations will be done to each home in
  Flintlock Ridge and 49 homes in Patriot Village
• Deferred maintenance is separate from renovations
• will be completed through HPC on-site maintenance
• work to begin in November and will be completed
  during Change of Occupancy Maintenance
• Renovations anticipated to start in the Spring

7
Conversion Design
8
Path of Construction

• Scheduling
• Residents will be contacted by HPC management at
  least 60 days prior to coordinate moves
• Office will work one-on-one with residents to
  determine best date for move
• Projection for Community Completion is September
  2011

9
Utilities

• Electric and gas will be sub-metered during
  renovation program
• Meters will be placed on existing homes project
  to begin approximately six months after
  privatization
• Part of an Air Force mandated program to
  encourage conservation
• Average utility cost will be determined for each
  floor plan
• 110 of the average utility cost will be allotted
  for each tenant
• Billing
• Mock billing will occur for a minimum of six
  months after meters installed
• After mock billing period ends live billing
  will begin (approx one year after privatization)
• Resident will receive the allotted cost of
  average utilities and will pay the utility
  provider/third party billing company directly
• Resident will not be billed for water and sewer
• Community Information Meetings will be held at
  every step

10
Utilities

• Average Utility usage established after Mock
  Billing 100
• Utility Allowance established at 110 of 100
  110
• Rent amount 1000
• Amount taken for BAH 1000 - 110 890
• Resident pays utility bill

11
How Can You Be Involved?

• The Landings at Hanscom is looking for Tenant
  Representatives
• Tenant Representatives address tenant concerns
• Organize around Community Issues
• Meet with Management monthly
• Involved in planning resident activities
• If you are interested in becoming a Tenant
  Representative please call 781-861-5062