BPHC Northampton Development Corporation

To promote civic betterments, social improvements by helping to provide affordable low-income housing in the city of boston on the Northampton square campus, without burdening the government. For purposes of rehabilitating two buildings, 347 units owned by the boston public health commission ("BPHC"), two for-profit partnerships entered into capital leases for the two buildings, and raised the funds to do a significant rehabilitation of the two buildings. Program revenue is received from the partnerships in the form of lease payments as well as accrued interest on loans provided through the sale of state low income housing tax credits that are due upon maturity. Once the organization receives the lease payments that are contingent on cash available from the partnerships, cash payments are paid out to the BPHC to fund programs for the homeless and other services. A schedule r is attached to disclose the related party. During this year the payments in the amount of $1,875,000 were paid to the BPHC for the program services.