INDIANAPOLIS AIDS HOUSING CORP

INDIANAPOLIS AIDS HOUSING CORP THE INDIANA NOT-FOR-PROFIT CORPORATION WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 24 UNIT APARTMENT COMMUNITY FOR HIV TENANTS IN INDIANAPOLIS, INDIANA, KNOWN AS THE CONNER HOUSE. IT WAS ORGANIZED PURSUANT TO SECTION 811 OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION HAS EXECUTED A REGULATORY AGREEMENT WITH HUD WHICH GOVERNS THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. THE CORPORATION HAS ALSO ENTERED INTO A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC CONTRACT) WITH HUD. THE PRAC CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW-INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.