LIFESPRING CENTERPLACE II INC

LIFESPRING CENTERPLACE II, INC. WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 10 UNIT APARTMENT COMMUNITY IN JEFFERSONVILLE, INDIANA, KNOWN AS CENTERPLACE II APARTMENTS, PURSUANT TO SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT, AS AMENDED. THE CORPORATION HAS EXECUTED THE STANDARD REGULATORY AGREEMENTS WITH HUD WHICH GOVERNS THE OPERATIONS OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. IN ADDITION, THE CORPORATION HAS 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 SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.