LIFESPRING RESIDENTIAL SERVICES INC

LIFESPRING RESIDENTIAL SERVICES, INC WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 20 UNIT APARTMENT COMMUNITY IN NEW ALBANY, INDIANA, KNOWN AS MANOR HOUSE APARTMENTS, PURSUANT TO SECTION 202 OF THE NATIONAL AFFORDABLE HOUSING ACT, AS AMENDED. THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT CONTRACT WITH HUD. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.