NEIGHBORHOOD STRATEGIES INC

THE CHARITABLE PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED ARE: (A)TO IMPROVE ECONOMIC CONDITIONS IN BLIGHTED AND BADLY DETERIORATED AREAS OF NEW YORK CITY, NEW YORK THROUGH THE DEVELOPMENT OF HOUSING AND COMMERCIAL DEVELOPMENT, AND THE CREATION OF EMPLOYMENT OPPORTUNITIES FOR LOW-INCOME AND UNEMPLOYED PERSONS IN SUCH UNDERUTILIZED AREAS; (B) TO STIMULATE ECONOMIC GROWTH IN DEPRESSED AREAS AND COMBAT UNEMPLOYMENT IN NEW YORK CITY; (C) TO STABILIZE SUCH BLIGHTED OR DEPRESSED COMMUNITIES; (D) TO COMBAT DETERIORATION IN SUCHBLIGHTED OR DEPRESSED COMMUNITIES; (E) TO FURTHER THE SOCIAL WELFARE OFSUCH BLIGHTED OR DEPRESSED COMMUNITIES; AND (F) TO IMPROVE ECONOMIC CONDITIONS IN SUCH BLIGHTED COMMUNITIES. THE CORPORATION, IN CARRYING OUT ITS PURPOSES, SHALL HAVE ALL THE POWERS GRANTED BY LAW TO A CORPORATION FORMED UNDER THE NEW YORK NOT-FOR-PROFIT CORPORATION LAW, AND ANY LAWS AMENDATORY THEREOF OR SUPPLEMENTARY THERETO.