Progress Report the RACER Team RACER at A

RACER At A Glance The RACER Team Progress Report ATLANTIC Established: Elliott P. Laws REALTY March 31, 2011, by U.S. Bankruptcy Court Administrative Trustee [email protected] Purpose: Cleanup and sell former GM properties for Bruce Rasher investment and job creation Redevelopment Manager [email protected] Where We Started: 89 locations, 14 states (properties available Patricia Spitzley in 5 states); 40 MM SF, 7,133 acres Deputy Redevelopment Manager & Director of Government Relations Funding: [email protected] $773 MM ($500 MM for cleanup) Steven Black Sold: Transaction Manager 76 completed transactions, [email protected] 26.2 MM +/- SF and 4,579 +/- acres. Brendan Mullen Jobs and Investments Pledged: Cleanup Manager for NY 14,474 jobs*, $4.012 BB in investments [email protected] (*includes new, retained and/or relocated jobs) Grant Trigger Cleanup Manager for MI Sales Criteria: [email protected] • Sufficiency of price • Job creation Dave Favero • Tax revenue, other benefits Deputy Cleanup Manager for MI • Integration with cleanup [email protected] • Community support • Buyer’s reputation Pamela Barnett Cleanup Manager for DE, LA, MA, OH, PA, VA NY [email protected] MI NJ Robert Hare OH Cleanup Manager for IL, IN, KS, IN MO, NJ, WI [email protected] States with available RACER properties Buying a Environmental Prime Our Markets RACER Property Cleanup Properties 10 Steps to Buy from RACER: Environmental Liability Protection: Indiana: Anderson, Bedford, Indianapolis, Kokomo, Muncie Following these steps will ensure a smooth, • RACER implements remedial activities as efficient process that gets you from start to approved by the primary or “lead” finish in the shortest time possible. environmental regulatory agency designated Michigan: Bay City, Buena for each site. RACER continues the cleanups MASSENA, NY Vista Township, Burton, until they are approved as complete by the Review Available Information Flint, Flint Township, lead agency. Buyer is not responsible Genesee Township, Grand for cleanup activities resulting from prior use Blanc Township, Mt. Morris, Assess RACER Criteria and can be protected from liability associated Pontiac, Saginaw, Van Buren with pre-existing contamination. Township, Ypsilanti Township Notify RACER of Your Interest and Execute Mutually Binding • RACER’s goal for each cleanup is to Confidentiality Agreement secure a No Further Action letter (or similar determination) based on non-residential New Jersey: Clark/Cranford standards from the lead agency. Assess Community Support LANSING, MI • Purchasers are responsible for compliance Submit Letter of Intent with environmental laws and regulations post- closing, including: institutional controls; costs Massena, Salina, relating to management/disposal of regulated New York: Review Transaction Documents Tonawanda materials generated by the purchaser; and extra cost, if any, to achieve a more stringent Execute Development Agreement cleanup to support a change in land use. • RACER is permitted and encouraged to sell Obtain Letters of Support ANDERSON, IN Ohio: Elyria, Moraine, Toledo its properties before completing its cleanup activities at these properties, while retaining Execute Transaction Documents responsibility for completing the cleanup of pre-existing contamination. Close Opportunity Zones • Additional liability protections may be Several RACER Trust properties are certified available from the relevant environmental as a federal “Opportunity Zone” under the Tax regulatory agencies for purchasers of Cuts and Jobs Act of 2017. Opportunity Zones RACER properties. provide substantial incentives to spur private TOLEDO, OH FOLLOW US: investment in development and job creation. For more information, please visit • WEBSITE:racertrust.org www.racertrust.org/Opportunity-Zones • TWITTER:brasher_RACER.

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