1602 SOUTH STAPLES HOUSING INC

1602 SOUTH STAPLES HOUSING INC THE CORPORATION IS A NONPROFIT CORPORATION ORGANIZED UNDER THE LAWS OF TEXAS ON AUGUST 11, 2008, FOR THE PURPOSE OF DEVELOPING AND OPERATING AN APARTMENT COMPLEX OF 6 UNITS FOR DEVELOPMENTALLY DISADVANTAGED CITIZENS IN CORPUS CHRISTI, TEXAS. THE PROJECT WILL OPERATE UNDER THE PROVISIONS OF SECTION 811 OF THE NATIONAL HOUSING ACT AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. THE CONSTRUCTION WAS COMPLETED IN SEPTEMBER 2010. RENT ON THE APARTMENT UNITS BEGAN ON NOVEMBER 2010.