LF Bella Vista Apartments

LF Bella Vista Apartments, Inc. (the Organization"), a wholly controlled entity of La Frontera Partners, Inc., parent, is an Arizona nonprofit corporation organized on August 23, 2010 to construct and operate a 14-unit housing project in Tucson, Arizona for very low-income persons with disabilities under the Section 811 National Affordable Housing Act ("NAHA") of the United States Department of Housing and Urban Development ("HUD"). The Organization completed construction on the apartment complex in September 2013, with rental activities commencing in October 2013. The Organization has a project rental assistance contract with HUD dated September 1, 2021, for rental assistance payments under section 811. The contract runs through August 31, 2022 and currently provides for a monthly contract rent amount of $661 for each unit. The contract guarantees the Organization that the United States government will pay the Organization the difference between the contract monthly rent per unit, as agreed to by the Organization and HUD, and the portion of the rent payable by each tenant as determined in accordance with the HUD established schedules and criteria.