Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

The following Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") is intended to help the reader understand the results of operations and financial condition of Centerline Holding Company. MD&A is provided as a supplement to, and should be read in conjunction with, our unaudited condensed consolidated financial statements and the accompanying notes.

This MD&A contains forward-looking statements; please see page 83 for more information

Significant components of the MD&A section include: Page

SECTION 1 - Overview
The overview section provides a summary of the Company and our reportable business segments. We also include a discussion of factors affecting our consolidated results of operations as well as items specific to each business segment. 52