United Development Funding IV (“UDF IV”), Jim Kenney was appointed acting Chief Executive Officer of UDF IV and elected to the UDF IV Board of Trustees as a Managing Trustee. Larry Jones was elected to the UDF V Board of Trustees as an independent trustee; he will also serve as Chairman of the Board of Trustees of both Trusts. Hollis Greenlaw resigned as a trustee of both Trusts.

Stacey Dwyer was appointed acting Chief Financial Officer of UDF IV.