ARGOS GARDEN COURT INC

ARGOS GARDEN COURT INC ARGOS GARDEN COURT, INC. IS AN INDIANA NOT-FOR-PROFIT AND WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 23 UNIT APARTMENT COMPLEX IN NORTH VERNON, INDIANA KNOWN AS ARGOS GARDEN COURT. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL AFFORDABLE HOUSING ACT. THE ORGANIZATION HAS EXECUTED THE STANDARD REGULATORY AGREEMENTS WITH HUD THAT GOVERN THE OPERATIONS OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION (FHA). IN ADDITION, THE CORPORATION HAS ALSO ENTERED INTO A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) WITH HUD. THE PRAC CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY HUD.