SBA HOUSING INITIATIVE CORPORATION

The purposes for which the corporation is formed are: To increase the supply of newly constructed and rehabilitated residences in the town of Southampton for low, moderate and middle income families. To increase such supply through cooperation with local county, state and federal agencies. To work with such government agencies in the financing, construction and development of new and rehabilitated housing. To undertake such construction and development of new and rehabilitated housing on land made available by local governments or by other private or governmental owners. To otherwise operate for charitable purposes, including civic enhancement and improvement of general social welfare, such purposes to be carried out: (a) by assisting in the town of Southampton and other government entities in the disposition of under utilized land currently owned by the town, as well as by assisting the town in planning, supervision and construction of public infrastructure and site preparation work.