CHA

CHICAGO HOUSING
AUTHORITY

STATEMENT FROM CHA ON CAPITAL INVESTMENTS AND SENIOR PROPERTIES

The Chicago Housing Authority is committed to providing high?quality, affordable housing to all of its
residents. The well-being, safety and comfort of its senior residents, in particular, have always been an
agency priority. It is important to note that CHA seniors are safe, their buildings are safe and, the elevator
systems are safe.

In September 2017, the CHA Board approved the Elevator Modernization Program that will address more
than two decades of deferred long-term maintenance, and will include upgrades to 150 elevators and
related mechanical and safety systems at 86 CHA properties. These upgrades will make the elevator
systems more efficient and take advantage of newer technology. The first phase of the Program to prioritize
the elevator system upgrades has been completed, and upgrade work is expected to start later this year.

The majority of elevators in portfolio are located in CHA's senior properties, which were constructed
beginning in 1956. Most of the elevators date back to the original construction of the buildings. They are
used 24 hours a day, seven days a week, by thousands of residents and their guests. Prior to 2017, CHA
last undertook an elevator improvement program in 2000, which included general repairs and cosmetic
improvements. It did not include a complete overhaul of the elevator system.

Over the past five years, CHA has spent more than $480 million on capital improvements designed to
improve the quality of life for all of its residents and ensure the long?term sustainability of its properties.

In 2018, CHA will complete construction projects at five senior developments that will include rehabilitation
work, upgrades to life safety; mechanical, electrical and plumbing systems, and new windows for 1,362
units. Total investment: $152 million.

JUNE 19, 2018