Heritage Place of Lake Orion

Orion Area Not-For-Profit Housing corporation owns, operates and manages a 57-unit multi-family apartment complex (the "project") for elderly and handicapped individuals located in Lake Orion, Michigan under section 202 of the national Housing act and is regulated by the u.s. department of Housing and urban development ("hud") with respect to rental charges and operating methods. The project receives rent supplements from the federal government under the section 8 program and is subject to a mortgage from hud. The project's major programs are its section 202 direct loan and the assistance received from the section 8 program.