Blue River Churubusco

The Indiana not for profit corporation was organized to construct, own and operate a 22 unit apartment community in Churubusco, Indiana known as Blue River Churubusco. It was organized pursuant to section 202 of the national 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 familes (or persons) as provided by the section 8 of the national housing act.