Scotland Community Development

Scotland Community Development, Inc. was incorporated on june 11, 1965 as a not-for-profit, non-stock corporation in order to carry out its purpose to develop, construct, own, manage and maintain a 75 unit low income housing apartment complex in potomac, maryland.on december 4, 2017, the entity sold its apartment complex and related assets to Scotland townhomes limited partnership (the "partnership") for $4,500,000. This sale also resulted in the entity providing a $4,000,000 loan to the partnership. The entity has a 20% interest in Scotland general partnership, llc, who are part of the partnership and made a $200,000 initial investment in the partnership.subsequent to the sale, the partnership entered into a user agreement with the state of Maryland which establishes hud's cranston-gonzalez national affordable housing act, section 811 project rental assistance demonstration programs to provide rental assistance to persons with disabilities at the Scotland townhomes.