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ARIEL Ventures, LLC, an Ohio Limited Liability Company, was formed in August 2001 and is a Minority and Women-Owned business. ARIEL Ventures provides finance, tax, IT and business advisory services, with an emphasis on real estate, international, and economic development projects, which include public/private partnerships, tax credits and other incentives. In addition, ARIEL Ventures provides project consulting services, including financial feasibility, deal structuring and tax planning. The Company also assists in structuring and securing capital and financing for projects with multiple layers of financing, including Historic Tax Credits, New Markets Tax Credits (NTMC), Conservation Easements, Tax Increment Financing, public grants and loans, conventional bank financing and private equity. The Partners of ARIEL Ventures bring a proactive, creative approach to getting tough deals done. Ariel Ventures, LLC has significant experience with the NMTC program, including establishing and preparing certification applications for Community Development Entities (CDE's); preparing NMTC allocation applications; assisting with deal structuring, financial and cash flow projections, investor return calculations, negotiating transactions with investors, lenders, CDEs and developers; developing compliance policies and procedures for CDEs; assisting with CDFI Fund and IRS reporting; managing the operations, compliance, reporting, accounting and asset management functions for an NMTC Allocatee. Ariel Ventures has provided advisory services for investors, CDEs and developers for over $200 million of NMTC transactions, most of which have utilized the leveraged structure. ARIEL Ventures has collaborated with the Cleveland-Cuyahoga County Port Authority in 2003 and was successful in securing a $47 million NMTC allocation, for making investments in the low income communities of Northeast Ohio, through a newly created community development entity (CDE), Northeast Ohio Development Fund, LLC. ARIEL Ventures manages the day-to-day operations, deal structuring and compliance for Northeast Ohio Development Fund. Ariel Ventures collaborated with Kentucky Interlocal School Transportation Association (KISTA) in 2004 and was successful in securing a $25 million NMTC allocation. Ariel also collaborated with National City Bank in 2005 and was successful in obtaining a $125 million allocation. The Partners of ARIEL Ventures have gained national recognition as experts in the New Markets Tax Credits area and have pioneered the development of the first state-of-the-art comprehensive software application for the New Markets Tax Credit Program, which has been approved for integration with CIIS, the CDFI Fund's (Treasury Department) online reporting system, and is used by Community Development Entities nationally for compliance, reporting and operations. In addition, Ariel Ventures has organized several programs and seminars, including "Economic Development Incentives for Real Estate Developers", which included speakers from the State of Ohio, Cuyahoga County, City of Cleveland and Team NEO, and various New Markets Tax Credit presentations for Banks, Law Firms, Investors, Developers, Governmental Agencies, Non-Profits and other Community Development Organizations. Project experience includes: $10.6 million mixed-use development project in Grand Rapids, Michigan, which combines New Markets Tax Credits, federal Historic Tax Credits, state Historic tax credits, State of Michigan Brownfield tax credits, federal HOME funds, and conventional financing. The project includes the rehabilitation of four historic buildings into 23 1,500 square foot live/work apartments reserved for Low-Income artists set above 12,410 square feet of commercial space that will house art galleries, studios, a café and a catering business. The city of Grand Rapids also committed $2 million for improvements to the streets and sidewalks around the project. $4.2 million redevelopment project in Detroit, Michigan consisting of 15,300 square feet of retail space, including New Markets Tax Credits, HUD Section 108 loans, federal historic tax credits and state historic tax credits. $25 million urban mixed-use development project located in Cleveland, Ohio, including 170 condominiums, townhouses and live/work lofts, parking garage and retail. Financing includes New Markets Tax Credits, Community Development subordinated loan, Port Authority Bonds and conventional financing. $18 million mixed-use historic rehabilitation project located in Cleveland, Ohio, consisting of 178,000 square feet, including 77 residential units and 26 extended stay suites, along with 4,000 square feet of retail. Financing includes New Markets and Historic Tax Credits. $5.2 million redevelopment project located in Detroit, Michigan, including HUD Section 108 loan, New Markets Tax Credits, Historic Tax Credits, HUD EDI grant, LISC CDAC grant, State of Michigan Catalyst grant and City of Detroit grant. $45 million film and television studio complex, located in the North Lawndale neighborhood on the West Side of Chicago. This modern facility will contain approximately 222,190 square feet of total building area developed on 11 acres of vacant land. The complex will also include a three-story production office building, a 21,660-sq. ft. mezzanine area for production support, and a landscaped parking lot for approximately 450 parking spaces. Financing includes New Markets Tax Credits, Illinois Finance Authority Empowerment Zone Revenue Bonds, City of Chicago Tax Increment Financing (TIF) (as leveraged lender in NMTC structure), State of Illinois grants and private equity. $30 million mixed-use retail and office project in Pittsburgh, Pennsylvania, utilizing New Markets tax credits, subordinated debt and a partnership with a non-profit community development corporation. The 111,000 sq ft complex will house a Walgreen's, Starbucks, and other retail offices. The project is expected to create 100 permanent jobs and 75 construction jobs.