PRESERVATION PARK CENTER INC

PRESERVATION PARK CENTER, INC. (PPC) WAS FORMED AS A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION IN JULY 2004 TO ACQUIRE, OWN AND OPERATE PRESERVATION PARK, LOCATED IN OAKLAND, CALIFORNIA. PPC'S SPECIFIC PURPOSES ARE TO COMBAT COMMUNITY DETERIORATION AND PROVIDE RELIEF TO THE POOR OR UNDERPRIVILEGED BY OWNING AND OPERATING COMMERCIAL OFFICE SPACE IN A LOW-INCOME COMMUNITY FOR RENT TO PREDOMINANTLY NONPROFIT ORGANIZATIONS. THE PROPERTY, ACQUIRED IN JANUARY 2005, IS A UNIQUE COLLECTION OF SIXTEEN VICTORIAN BUILDINGS, THREE OF WHICH ARE DEDICATED FOR COMMUNITY USE FOR MEETINGS AND OTHER EVENTS.