Mission
THE NOT FOR PROFIT OWNS AND OPERATES A 50-UNIT ELDERLY HOUSING COMMUNITY KNOWN AS HERSHEY MANOR IN MUSCATINE, IOWA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS. THE CORPORATION WAS ORGANIZED UNDER THE NOT FOR PROFIT STATUTES OF THE STATE OF IOWA. THE COMMUNITY WAS FINANCED WITH A MORTGAGE THAT IS INSURED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) UNDER SECTION 207 PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT. THE CORPORATION HAS ENTERED INTO A HOUSING ASSISTANCE PAYMENTS CONTRACT (HAP CONTRACT) WITH HUD, WHICH PROVIDES RENTAL ASSISTANCE FOR ALL OF THE COMMUNITY'S UNITS AND EXPIRES ON MAY 31, 2042.