Greaternorthern $4,000

http://www.gncig.com

Through it’s Board of Directors and staff,Greater Northern CommunityInvestment Group brings a uniqueunderstanding to the communitydevelopment process at every level, fromconcept to final occupancy.

http://www.gncig.com/

Greater Northern focus is the transformingof underutilized, non-performing properties orUnderdeveloped sites into assets for thecompany and the community.

© 2011 Greater Northern Community Investment Group


Greater Northern believes that thereare opportunities to create value andgenerate revenue, both in the publicand private real estate markets.

Many communities in America have been facingthe challenges of shrinking revenues, while havingto provide services to their constituents. They arealso faced with the cost of non-performing assets.

Every community’s most significant assetis land. The taxes from that land providesfunds to pay police, fund schools, clean thesnow, and cut the grass for the littleleague teams.



Greater Northern anticipates acquiringproperties at a greatly discounted rate,significantly below fair market value.

Municipalities will benefit from this plan,because it provides them with immediaterevenue that can be used to pay for services.


This arrangement also gives the cities revenuethat can be used in the future. Many of theseproperties have been off of the tax rolls for years.Not only do they not generate revenues, but theseproperties cost the communities funds.


Vacant properties need to be maintained;the grass needs to be cut; and the trashthat piles up on them creates an unhealthycondition. This drains much neededresources.


A vacant property creates a blighted condition,which allows insurance companies to cancel orincrease the premiums of the homeowners thatlive nearby.


Greater Northern will return vacantproperties to the tax rolls immediately, andincrease their value over time.

Greater Northern worksclosely with municipalgovernments and localcommunity developmentorganizations to acquireproperties that arecontrolled by the publicsector.

Once Greater Northern has control of theproperty, the next step is to begin acommunity development strategy thatwould include the local government andthe residents of the immediateneighborhood around the properties.

Greater Northern will determine the best use ofthe property. Home ownership is always our firstchoice. If it is determined that the best use of theproperty is to create home ownership, then wewould move into a home ownership plan.

If it is determined that rental is the best use, thenGreater Northern will begin to access fundingsources with a mission to help provide rentalhousing that is affordable, safe, and clean.

We will utilize the various resources thatexist on the local and national levels.These programs exist to make homeownership more affordable.

Regardless of the issues that are affectingthe housing market, home ownership is stillthe American dream, and it is still the fabricthat strengthens communities.


Greater Northern Community Investment Groupis a development corporation whose core businessis community development.


Greater Northern Community Investment Group is requesting financing in the amount of $4,000. The purpose of the funds is to acquire and rehab 1 unit. The unit will be sold to a family at a below market rate price.

Our plan is to rehab 5 units in Aliquippa, Pa. in cooperation of a

local bank and the city of Aliquippa. We have chosen 2 units for

rehab, which will allow us to achieve a price point of not more than

$45,000. These units will be sold to a quailed buyer with a $44,500

first mortgage. The owners will have an estimated monthly P&I payment of about $260. All units are 3 or 4 bedroom single-family homes. While the project is only 25 units, these units will be situated in a neighborhood that will impact the stability of a number of other units and drive additional homeownership. Another value of the project is that it will inject $1.1 million of private investment into the community. Aliquippa, like a number of other communities in western Pennsylvania, is suffering the loss of population. This loss in population is causing a strain on the revenues of the city.


Who benefits?The families and communities of Aliquippa

Median Household Income in Aliquippa is 38% below the state average, 41% below the national average and 32% below the rest of Beaver County. Estimated median household income in 2008: $30,824 (it was $25,113 in 2000). Mean prices in 2008, all housing units: $79,966; Detached houses: $82,012; Townhouses or other attached units: $70,117; In 2-unit structures: $25,686; In 3-to-4-unit structures: $36,994; In 5-or-more-unit structures: $31,919; Mobile homes: $15,349. Urban decay in Aliquippa has had no single cause; it results from combinations of inter-related socioeconomic conditions including the city’s urban planning decisions, the poverty of the local populace, the construction of freeway roads and rail road lines that bypass the area, depopulation by sub urbanization of peripheral lands, real estate neighborhood redlining, decline in the school system, and racial discrimination.

Project Breakdown For 1 Unit

Source of FundsGNCIG $10,000Investor(s) $23,000Contribution $ 2,000Total $35,000

Application of FundsAcquisition $ 1,000Rehab $ 30,000 Fees $ 4,000

Total $ 35,000

The county and city of Aliquippa have given GNCIG control of 5 units to be rehabilitated and sold.

The loan principal and interest will be repaid from the proceeds from the sale of the units.



Making Home Ownership Affordable

Buyers Expense

Sales price $44,500

Down Pymt $ 2,275Mortgage $ 42,275Int. 5.75%Term 30 years

Monthly Pymt $ 254.73

How We Strengthen Communities

DevelopingProperty

CreatingValue

= Home

Ownership &Rental

Property

TaxRevenue for

theCommunity

Contact Us:Foster Plaza #5 Suite 300, 651 Holiday Drive, Pittsburgh, PA 15220

Call: 412.928.4705



Greaternorthern $4,000

Investor Relations

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