CPC NEIGHBORHOOD PARTNERS INC

THE CORPORATION WILL SPONSOR AND MAINTAIN HOUSING DEVELOPMENT FUND CORPORATIONS UNDER NEW YORK LAW AND/OR SIMILAR ENTITIES UNDER THE LAWS OF NEW YORK OR OTHER JURISDICTIONS, IN ORDER TO SUPPORT AND PARTICIPATE IN AFFORDABLE HOUSING PROGRAMS AND INITIATIVES OF THE COMMUNITY PRESERVATION CORPORATION, A NEW YORK NOT-FOR-PROFIT CORPORATION AND FEDERAL TAX-EXEMPT PUBLICLY SUPPORTED CHARITY, DESIGNED TO ACHIEVE, ON A NOT-FOR-PROFIT BASIS, CLEAN AND DECENT AFFORDABLE HOUSING FACILITIES FOR PERSONS OF LOW, MODERATE AND MIDDLE INCOME.