Combined insurance program

Every program on the portfolio

Placed 4% and 9% LPs sit on their own project programs. Millwork Lofts is between them — builder’s risk bound, permanent quoted. There is no authority master and no auto line.

Portfolio rates

Composite

How calculated

Sum of TIV on every location in this scope — dwellings and support sites. Matches the 2026 premium-year TIV. Program TIVs are the same dollars allocated by placement, not a second total. Board Report uses this same number.

$.40 / $100

$91.9M TIV

In-force premium

How calculated

Premium on lines with status bound, master, or project. Quoted and gap premiums are excluded.

$369,000

Bound / master / project only

Indicated premium

How calculated

Premium recorded on quote or gap lines. It is not in-force and would not pay. Shown so the board can see the ask next to what is already bound.

$98,000

Quote and gap — not in force

Property

$.38 / $100

$351,000 property, flood, BR, IM

Casualty

$18,000

GL, umbrella, auto, WC, crime, D&O, cyber

Per unit

$932

396 units across the portfolio

Rate by program

All-lines rate is in-force premium over that program’s TIV. Property rate uses only property, flood, builder’s risk and inland marine.

Program	TIV	Premium	All-lines	Property	Share
Millwork Lofts builder’s risk Construction	$28.4M	$160,000	$.56 / $100	$.50 / $100	43%
Ash Court LP project Project — 4% LP	$18.1M	$54,000	$.30 / $100	$.30 / $100	15%
Elm Senior LP project Project — 9% senior	$16.6M	$48,000	$.29 / $100	$.29 / $100	13%
River Park Family project Project — mixed-finance	$14.2M	$61,000	$.43 / $100	$.43 / $100	17%
Cottonwood Housing LP project Project — Year 15	$9.8M	$32,000	$.33 / $100	$.33 / $100	9%
NHP Scattered Sites LLC Project — CDC scattered	$4.8M	$14,000	$.29 / $100	$.29 / $100	4%
Portfolio	$91.9M	$369,000	$.40 / $100	$.38 / $100	100%

TIV across the portfolio

$91.9M insured value · 8 lines · 6 programs

Millwork Lofts builder’s risk$28.4M · 31%
Ash Court LP project$18.1M · 20%
Elm Senior LP project$16.6M · 18%
River Park Family project$14.2M · 15%
Cottonwood Housing LP project$9.8M · 11%
NHP Scattered Sites LLC$4.8M · 5%

Construction

Millwork Lofts builder’s risk

Admitted builder’s risk

TIV: $28.4M
In-force premium: $160,000
All-lines rate: $.56 / $100
Property rate: $.50 / $100
AOP / named storm: $10K AOP5%
Flood: Sub-limited

Bound through conversion. Occupancy permission still open.

Line	Premium	Rate
Builder’s risk	$142,000	$.50 / $100 TIV
Property — permanent (quoted)quote	$98,000	$.35 / $100 TIV
General liability — construction partnership	$18,000	$188 / unit

ML Millwork Lofts

Project — 4% LP

Ash Court LP project

Admitted package

TIV: $18.1M
In-force premium: $54,000
All-lines rate: $.30 / $100
Property rate: $.30 / $100
AOP / named storm: $10K AOP2%
Flood: Zone X — none

Named insured Ash Court LP. GP additional insured.

Line	Premium	Rate
Property — Ash Court LP	$54,000	$.30 / $100 TIV

AC Ash Court

Project — 9% senior

Elm Senior LP project

Admitted package

TIV: $16.6M
In-force premium: $48,000
All-lines rate: $.29 / $100
Property rate: $.29 / $100
AOP / named storm: $10K AOP2%
Flood: Zone X — none

PBRA senior. Investor LP/SP already endorsed.

Line	Premium	Rate
Property — Elm Senior LP	$48,000	$.29 / $100 TIV

ES Elm Street Senior

Project — mixed-finance

River Park Family project

Admitted package + excess flood

TIV: $14.2M
In-force premium: $61,000
All-lines rate: $.43 / $100
Property rate: $.43 / $100
AOP / named storm: $10K AOP2%
Flood: NFIP + excess

Zone AE. Excess flood in force.

Line	Premium	Rate
Property — River Park Family LLC	$61,000	$.43 / $100 TIV

RP River Park Family

Project — Year 15

Cottonwood Housing LP project

Admitted package

TIV: $9.8M
In-force premium: $32,000
All-lines rate: $.33 / $100
Property rate: $.33 / $100
AOP / named storm: $25K AOP2%
Flood: Zone X — none

Values lag. Year 15 recap will re-trade the program.

Line	Premium	Rate
Property — Cottonwood Housing LP	$32,000	$.33 / $100 TIV

CW Cottonwood Apartments

Project — CDC scattered

NHP Scattered Sites LLC

Admitted package

TIV: $4.8M
In-force premium: $14,000
All-lines rate: $.29 / $100
Property rate: $.29 / $100
AOP: $5K AOP
Wind-hail: $5K wind / hail
Named storm: N/A inland
Flood: Zone X — none

Blanket on 12 duplexes.

Line	Premium	Rate
Property — NHP Scattered Sites LLC	$14,000	$.29 / $100 TIV

PD Pine Street Duplexes

Combined coverage schedule

Quoted and gap lines show an indicated rate and are not in the in-force premium.

Line	Applies to	Limit	Retention	Carrier	Premium	Rate	Status
Builder’s risk Soft costs in. Occupancy permission outstanding.	Millwork Lofts LP — construction	$28.4M TIV	$10K AOP · 5% named storm	Admitted builder’s risk	$142,000	$.50 / $100 TIV	bound
Property — permanent (quoted) Quoted. Not in the in-force composite.	Millwork Lofts LP — conversion	$28.4M TIV	$10K AOP · 2% named storm	Admitted package (quote)	$98,000	Indicated $.35 / $100 TIV	quote
General liability — construction partnership Investor AI still certificate-only.	Millwork Lofts LP + GP	$1M / $2M	$0	Admitted CGL	$18,000	$188 / unit	bound
Property — Ash Court LP	Ash Court LP	$18.1M TIV	$10K AOP · 2% named storm	Admitted package	$54,000	$.30 / $100 TIV	project
Property — Elm Senior LP	Elm Senior LP	$16.6M TIV	$10K AOP · 2% named storm	Admitted package	$48,000	$.29 / $100 TIV	project
Property — River Park Family LLC Zone AE. Excess flood in force.	River Park Family LLC	$14.2M TIV + excess flood	$10K AOP · NFIP + excess	Admitted package + excess flood	$61,000	$.43 / $100 TIV	project
Property — Cottonwood Housing LP Year 15 values lag replacement cost.	Cottonwood Housing LP	$9.8M TIV	$25K AOP · 2% named storm	Admitted package	$32,000	$.33 / $100 TIV	project
Property — NHP Scattered Sites LLC Blanket duplexes.	NHP Scattered Sites LLC	$4.8M TIV	$5K AOP	Admitted package	$14,000	$.29 / $100 TIV	project

In-force $369,000 · 7 of 8 lines bound. Millwork permanent is quoted at $.35 / $100 TIV and is not in the composite.

Master vs project

Each LP is the named insured on its project property. The construction partnership carries builder’s risk until conversion. Permanent for Millwork is quoted and is not in the in-force composite.

Composite is $.40 / $100

In-force premium is $369K on $91.9M TIV. In-force premium is placed-project property plus Millwork builder’s risk. The quoted permanent is excluded until it binds.

There is no PHA master on this book. Casualty that belongs to a partnership stays with that partnership. The sponsor CDC does not run an auto program. See Conversion Hub for Millwork Lofts. Open Coverage Scenario Explorer.