COMMUNITY DEVELOPMENT INC

COMMUNITY DEVELOPMENT,INC. (THE "CORPORATION") IS A NONPROFIT ORGANIZATION ESTABLISHED TO ACQUIRE, IMPROVE (THROUGH REHABILITATION, NEW CONSTRUCTION, OR OTHERWISE) AND TO MAKE AVAILABLE AFFORDABLE HOUSING TO PERSONS AND FAMILIES WITH LOW AND MODERATE INCOMES; TO ACQUIRE, OWN AND DISPOSE OF PARTNERSHIP OR MEMBERSHIP INTERESTS IN LIMITED PARTNERSHIPS ("LPS") OR LIMITED LIABILITY COMPANIES ("LLCS") AND STOCK IN CORPORATIONS PROVIDING HOUSING FOR THE BENEFIT OF PERSONS AND FAMILIES AS DEFINED ABOVE; AND TO PROMOTE SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY IMPROVING EXISTING PROPERTY OR CREATING NEW FACILITIES WITHIN BLIGHTED, DECAYED, OR SUBSTANDARD AREAS.