KNOX GARDEN COURT INC

KNOX GARDEN COURT, INC. IS AN INDIANA NOT-FOR-PROFIT AND WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 24 UNIT APARTMENT COMPLEX IN KNOX, INDIANA KNOWN AS KNOX GARDEN COURT. IT WAS ORGANIZED PURSUANT TO SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT AS AMENDED. 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) WITH HUD. THE PRAC CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY SECTION 8 OF THE NATIONAL HOUSING ACT.