Blue River Ii

The Indiana not for profit corporation was organized to construct, own and operate a 20 unit apartment community in columbia city, Indiana known as Blue River apartments. It was organized pursuant to section 811 of the national affordable housing act as amended and has executed a regulatory agreement with hud which governs the operation of the community with the federal housing administration (fha) 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 of the national housing act.