BOURBON GARDEN COURT INC

BOURBON GARDEN COURT, INC. IS AN INDIANA NOT-FOR-PROFIT AND WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 22 UNIT APARTMENT COMPLEX IN BOURBON, INDIANA KNOWN AS BOURBON GARDEN COURT. IT WAS ORGANIZED PURSUANT TO SECTION 811 OF THE NATIONAL HOUSING ACT. THE ORGANIZATION HAS EXECUTED THE STANDARD REGULATORY AGREEMENTS WITH HUD THAT GOVERN THE OPERATIONS OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION (FHA). IN ADDITION, THE CORPORATION HAS ALSO ENTERED INTO A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC CONTRACT) WITH HUD. THE PRAC CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.