AFL-CIO Investment Program

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AFL-CIO Investment Program
presents to
Regional Roundtable On Public Pension Funds and
Targeted Investing Federal Reserve Bank of
Boston Boston, Massachusetts December 6, 2006
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AFL-CIO Investment Program Achievements
AFL-CIOHousing Investment Trust
80,000 Multifamily Units 15,000 Single Family Units 5 Billion in Commitments 8 Billion Present Value of Real Estate Investments
480 Projects
69,712,000 Hours of Union Work Created
AFL-CIOBuilding Investment Trust
120,000,000 Square Feet of Development 3.5 Billion in Commitments 5.7 Billion Present Value of Real Estate Investments
158 Projects
36,318,000 Hours of Union Work Created
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AFL-CIO Investment Program
Steady Growth, Strong Performance
6 Billion
BIT TOTAL RETURNS
2.34 Billion
BIT
3.63 Billion
HIT TOTAL RETURNS
HIT
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Returns as of Sept. 30, 2006, annualized
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Our Investors
AFL-CIO Housing Investment Trust
of HIT Assets Held
Top 10 Investors millions
Central Pension Fund of the IUOE And Participating Employers 176.30
Contra Costa County Employees' Retirement Association 167.22
New York City Employees' Retirement System 98.81
California Public Employees' Retirement System 97.67
Ohio Public Employees Retirement System 97.19
San Francisco City And County Employees' Retirement System 95.53
SEIU Pension Plans Master Trust 95.16
Transit Employees' Retirement Plan (Washington, DC) 88.82
The Teachers' Retirement System For The City Of New York 87.83
Milwaukee And Vicinity Building Trades United Pension Trust Fund 79.88
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As of Sept. 30, 2006
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Our Investors
AFL-CIO Building Investment Trust
Top 10 Investors millions
of BIT Assets Held
Bakery and Confectionery Union and Industry Intl Pension Fund 200.84
California Public Employees Retirement System 152.44
Intl Brotherhood of Painters and Allied Trades Union Industry Pension Fund 141.02
Plumbers and Pipefitters National Pension Fund 122.85
Service Employees International Union Master Pension Trust 113.54
National Roofing Industry Pension Fund 89.25
National Electrical Annuity Plan 67.48
Southern Nevada Culinary Bartenders Pension Trust 64.97
Local 705 Intl Brotherhood of Teamsters Pension Trust Fund 55.23
Annuity Plan of the Electrical Industry 51.43
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As of Oct. 1, 2006
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Historical Investments in the Boston Area
AFL-CIOHousing Investment Trust
1,563 Total Multifamily Units 1,022 Affordable Units 164 Million in Commitments 238 Million Total Development Cost
16 Projects
2.1 Million Hours of Union Work Created
AFL-CIOBuilding Investment Trust
836,000 Square Feet of Development 302 Multifamily Units 150 Hotel Rooms 200 Million in Commitments 451 Million Total Development Cost
8 Projects
3.4 Million Hours of Union Work Created
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Rollins Square
AFL-CIO Housing Investment Trust
A Major Multifamily Development in Bostons
South End
Total Development Cost 49.9 Million
HIT Construction Financing 27.3 Million
HIT Purchase of Participation Certificate (FHA Risk Sharing Program) 2.9 Million
Total Units, Including Condos and Rental Apartments 86
Market Rate Units 36
Moderate and Low Income Units 50
Financing Structure Financing combined a conventional construction loan provided by the HIT and a local lender and a taxable permanent loan structured through MassHousings FHA Sec. 542(c) Risk Sharing Loan Program. Financing also included city, state and private funds, including low-income housing tax credits.
Developed by the Planning Office for Urban
Affairs and dedicated in 2003.
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Initiatives Focus on Economic Development andJob
Creation in Specific Markets
New York Achieved over 2 billion in total real estate activity 9.3 million hours of work for union members
National Apartment Initiative Achieved 1.6 billion in total real estate activity 16.3 million hours of work for union members
Chicago Targeting 750 million in total real estate activity 5.6 million hours of work for union members
New Orleans Targeting 1 billion in total real estate activity 6.5 million hours of work for union members
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New York City Community Investment Initiative
Since January 2002
AFL-CIOBuilding Investment Trust
69,000 Square Feet of Development 255.4 Million in Commitments 821 Billion Estimated Value of Real Estate Investments
5 Projects
AFL-CIOHousing Investment Trust
12,737 Total Multifamily Units 11,624 Affordable Units 2,526 Homeownership Loans 508 Million in Mortgage Loans 273 Million in Multifamily Finance 1.2 Billion Estimated Value of Real Estate Investments
13 Projects
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Union Labor Policies

• 106 million hours of union work created
  over the life of the funds
• Currently 2.02 billion in total
  construction activity underway for both
  funds
• 223 signatory contracts representing 18
  trades governing operations of BIT
  buildings

BIT (Equity Instruments)
HIT (Debt Instruments)
Report Card
AFL-CIO Housing Investment Trust (Debt
Instruments)
On Site Union Construction 100
On Site Union Construction 100
Covered Facilities Union Operation Office
82 Hotels 100
Groceries 100 Parking 86
Building Operations By Building 92
Total Dollars 72
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Gulf Coast Revitalization Program

• Path of Destruction
• 200,000 homes destroyed or severely damaged
• 500,000 people displaced
• Area affected the size of Great Britain

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Gulf Coast Revitalization Program

• Path of Reconstruction
• 250 Million Multifamily Housing
• 250 Million Single Family Housing
• 100 Million Hospital and Healthcare Finance
• 100 Million Economic Development
• 200 Million Public/Private Leverage

HIT and BIT Activity Will Create 1 Billion in
Investments.
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Factory Built Housing

• Planned unionized facility in New Orleans

HousingOpportunity
1,200 new housing units per year
Local Economic Growth
Jobs
150-300 union jobs

• A new strategy for high road economic
  development

Training
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AFL-CIO Investment ProgramHistorical Data
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What we are doing reflects the mission of the
labor movement. This is what the labor movement
is all about.
John SweeneyPresident, AFL-CIONew Orleans,
LAJune 14, 2006
AFL-CIO Housing Investment Trust AFL-CIO Building
Investment Trust

• Boston Office
• Paul Barrett, Regional Marketing Director
• 655 Summer St.
• Boston, MA 02210
• [phone]

AFLCIO Housing Investment Trust 1717 K Street,
NW, Suite 707 Washington, DC 20036 (202)
331-8055 www.aflcio-hit.com
AFL-CIO Building Investment Trust Mercantile-Safe
Deposit Trust Company Trustee Two Hopkins
Plaza Baltimore, MD 21201 [phone]
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