Rodeo Senior Apartments

Provided general support to eah Inc., a related California nonprofit public benefit corporation, in furtherance of eah Inc's exempt purpose of providing affordable housing to elderly, very low, low and moderate income indificuals and families.

Through may 25, 2023, the corporation operated a 50 unit apartment building for the elderly in Rodeo, California under section 202 of the national housing act. This project was regulated by hud as to rent charges and operating methods. On may 26, 2023, the apartment building was sold to a limited partnership, which the corporation serves as the general partner of through its sole ownership of a disregarded limited liability company. The purchasing limited partnership will rehabilitate the building for continued use as a low-income housing project. The note receivable carried back from the sale is to be paid solely from future surplus cash generated by the limited partnership's operations of the low-income housing project or from sale or refincing proceeds received by the limited partnership.