Clifford Apartment still waiting on financing

The renovation of the Clifford Apartments located on Morrisson is still in the works.

The project developer and owner of the Clifford Apartments is Innovative Housing, Inc (IHI). IHI has been
working to close complicated financing with the private lender and historic tax credit equity investors. PDC
anticipates closing their loan for the Clifford Apartments project later this fall. The building’s tenants have been
relocated to other IHI projects in anticipation of construction start.

For additional information contact: David Sheern (PDC) 503.823-4103 or Sheernd@pdc.us