HOUSING INITIATIVE HOUSING DEVELOPMENT FUND CORPORATION

THE CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, AND SPECIFICALLY TO SUPPORT EFFORTS OF ITS FOUNDING CHARITABLE ORGANIZATION, THE ASSOCIATION OF NEW YORK CATHOLIC HOMES, INC. (EIN 27-0335937), TO PROVIDE AFFORDABLE HOUSING ACCOMMODATIONS AND RELATED SUPPORTIVE SERVICES IN NEW YORK STATE FOR PERSONS AND FAMILIES OF LOW AND VERY LOW INCOME WHO CANNOT THEMSELVES AFFORD TO PAY FOR ADEQUATE, SAFE AND SANITARY HOUSING AND FOR ELDERLY AND DISABLED INDIVIDUALS.