Beverlys Place Housing Development Fund Corporation

Beverly's place housing development fund corporation (the "corporation") was formed as a new york not for profit corporation to develop housing exclusively for persons of low income. The corporation has developed and is operating a site located at 402-422 snediker avenue, brooklyn, new york as 75 apartments and community space (the "facility"). All residents are low income individuals with incomes at or below 60% of ami ( "low income residents"), many of whom are formerly homeless. The corporation has entered into regulatory arrangements with the new york department of housing preservation and development which requires that the housing remain affordable to low income residents.