Board

Foundation for Social Resources, Inc.

DEVELOPING AND PRESERVING AFFORDABLE HOUSING COMMUNITIES

BOARD OF DIRECTORS AND OFFICERS

The Officers and Directors of the Foundation for Social Resources are knowledgeable in producing and managing affordable housing for families with low incomes or special needs. Their experience in real estate, tax-exempt bonds, and tax-credit partnerships makes them experts in obtaining the public and private funds necessary to finance the acquisition and development or rehabilitation of affordable housing. They also understand the many social and economic needs of tenants and are experts in designing and implementing on-site services to meet those needs.

WILLIAM W. HIRSCH CEO

William Hirsch has developed a number of Southern California apartment communities which combine to total over 7,500 units. These communities were built in conjunction with Lincoln Property Company where Mr. Hirsch was in charge of their Southern California Residential Division from 1980 through 1990. In this capacity he was directly responsible for the conception, development, financing, construction and subsequent management of thirty-six developments. Over one-half of these projects were financed with tax-exempt bonds, and produced over 1,500 deed restricted dwelling units for low-income households. Mr. Hirsch has been involved in the rental apartment field since 1975, including his experience with Lincoln, FPI Community Developers (Sacramento) and Forest City Enterprises (Los Angeles).

JONATHAN B. WEBB President, Secretary

Jonathan Webb has over 25 years experience in the development of residential real estate. Since 1996 he has served as the Executive Director of the Foundation for Social Resources, Inc., a 501(c) (3) non-profit housing corporation, whose mission is to provide, preserve and create affordable housing.

In 1999 Mr. Webb was a co-founder of Project Access, Inc., a non-profit organization whose mission is to provide on-site educational and social services to low-income residents of affordable communities. Project Access now serves more than 3,500 low-income residents in 22 Family Resources Centers in Orange, Riverside, Los Angeles, Ventura Santa Clara and Alameda Counties. He has served as President of the Board since its inception.

Mr. Webb is a graduate of the University of California, Berkeley and Golden Gate University School of Law.

KIRK S. EVANS Treasurer

Kirk Evans has been involved in the Real Estate Development business through a wide variety of real estate oriented occupations. Mr. Evans' real estate development activities began some 20 years ago in the commercial banking business. After spending four years in the lending field, Kirk joined the staff of the Chairman of the Orange County Board of Supervisors. In the three years he spent working as an Executive Assistant to Supervisor Thomas Riley, Kirk became acquainted with the numerous council representatives of the Fifth District and familiarized himself with the governmental regulation associated with the development of real estate. A sizable allocation of Mr. Evans' time spent in the political arena was focused on the affordable housing crises in Orange County.

Mr. Evans left the public sector and entered the private sector in 1982. Since then, he has been involved in the approval process of in excess of 6,500 residential units. A number of these units were subsequently financed and developed under his guidance.

JAMES A. McDERMOTT Board Member

James McDermott has considerable consulting experience in the arena of public affairs, both in the private and public sectors; and, more particularly, in public policy analysis, communications, and hands-on community and government relations. His keen understanding of the workings of state and local governments derives from his seven-year service as Senior Assistant to Mike Roos, former Speaker Pro Tem of the California State Assembly, to whom he was responsible for constituent services, legislative research and speech writing and other duties.

In the course of his private-sector work, Mr. McDermott has earned a reputation as an insightful strategic communications consultant whose experience in government relations and community relations has been applied to significant good ends for such clients as Legacy Partners, Bechtel Corp., Alameda Corridor-East Construction Authority, Lockheed Martin, UniHealth Foundation, Warner Bros., City of Pasadena, Kilroy Realty, and the Orange County Creditors Committee. Prior to starting McDermott Consulting, Inc., Mr. McDermott served for 13 years as a Senior Vice President with Marathon Communications Inc., one of Los Angeles' leading public affairs consulting firms. His principal responsibility was the development of tactical and strategic communications plans, including government and community relations components, for the firm's major clients. After receiving an undergraduate degree from the University of Southern California, Mr. McDermott earned a Masters Degree in Philosophy from the University of California, San Diego.

Mr. McDermott and his wife, Cynthia Kurtz, reside in Pasadena. He serves on the board of directors of the Pasadena Police Activities League, Villa Esperanza Services, and St. Andrew School.

PAUL REIM Board Member

Currently, Reim Advisors is involved in the acquisition and development of multi-family residential real estate throughout California and Hawaii. On a case by case basis, Reim Advisors and its associates also acquire and develop retail, office and industrial projects.

In 1997, after specializing in investment property sales with CB Commercial Real Estate for 14 years, Paul established Reim Advisors, LLC, a real estate investment advisory firm. During the next 4-year period, he acquired multi-family real estate properties as a principal in partnership with Steadfast Properties throughout California and Hawaii with an aggregate value exceeding $400 million, totaling over 6,700 apartment units. The projects all involved a value added component and were refinanced after rehab either with a conventional mortgage and tax-exempt bonds, some with tax-credits. Reim sold interest in those projects in 2002. From 1983 to 1997, Paul was employed by CB Richard Ellis Commercial Real Estate as a real estate investment sales specialist. Throughout his tenure, he was involved in the purchase and sale of real estate investments throughout Southern California with an aggregate value exceeding $300 million. His transaction experience ranges from institutional, tax-exempt bond-financed, tax-credit, 1031 tax-deferred exchange transactions as well as traditional deal structures. During his career at CB Commercial, Paul was awarded the Rookie of the Year in 1986 in the Riverside office of CB Commercial and was appointed Sales Consultant in 1988, Senior Sales Consultant in 1989, Vice President in 1991, and 1st Vice President in 1995. He consistently was a top producer in his specialty, ranking in the Top 10 on several occasions including Top 10 Investment Sales for CB Commercial nationally in 1990, Top 20 Investment Sales for CB Commercial in the Western Division in 1992, Top 5 Producer, Riverside office 1994, No. 1 Producer, Riverside office 1995 and 1996.

Mr. Reim has an undergraduate Bachelor of Science Degree in Finance from Pepperdine University. He graduated in 1983 with Magna Cum Laude honors.