CENTERPLACE III INC

CENTERPLACE III, INC., WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE AN 8 UNIT APARTMENT COMMUNITY IN JEFFERSONVILLE, INDIANA, KNOWN AS CENTERPLACE III APARTMENTS, PURSUANT TO SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT, AS AMENDED. THE CORPORATION HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS GOVERNING THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. THE CORPORATION HAS ALSO ENTERED INTO A PROJECT RENTAL ASSISTANCE CONTRACT WITH HUD. THE PRAC CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY HUD.