Bensonhurst Housing for the Elderly

“Bensonhurst housing for the elderly housing development fund company, inc. Is managed by tuc management co., inc.”

“Drafts of the completed returns are reviewed by the president, cfo, senior vp, general counsel and their staff. Any comments arising from their review are discussed and if required, changes are made to the draft. That draft will be submitted to the board of directors for its review and approval. Once the board of directors has completed its review the returns will be filed.”

“Each director, principal officer and member of a committee with board-delegated powers must file and maintain current the organization's directors biographical information form and, on an annual basis, complete the organization's directors conflict of interest statement and acknowledgement which acknowledges that each individual has disclosed any potential conflict of interest; received a copy of the conflicts of interest policy; read and understands the conflicts of interest policy; and agreed to comply with the conflicts of interest policy. The senior vice president/general counsel supervises the distribution, collection and review of the annual directors conflict of interest statement and acknowledgement. From time to time, directors, principal officers and/or committee members are reminded of their obligation to disclose potential or actual conflicts of interest when and if they arise. Procedures for managing identified conflicts: each director, principal officer and member of a board committee is required to disclose any actual or potential conflict of interest to the individual considering the proposed transaction or arrangement. In the event of such a disclosure, the interested party is excused from the meeting and the board/committee determines whether a conflict exists. If the board/committee determines that a conflict exists, the chairperson of the board or designee (if appropriate) will appoint a disinterested person or committee to investigate and report to the board of directors alternatives to the proposed transaction or arrangement. Based on the information furnished by the disinterested person or committee, the board of directors will make a determination of whether the corporation can obtain a more advantageous transaction or more reasonable arrangements from an entity or person that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement that would not give rise to a conflict of interest is not reasonably attainable under the circumstances, the board of directors will determine, by a majority vote of the disinterested directors, whether the transaction or arrangement is in the organization's best interest and for its own benefit and whether the transaction is fair and reasonable to the organization. All of the actions stated above shall be reflected in the board/committee minutes. In the event that a director, principal officer or member of a board committee fails to disclose a potential or actual conflict of interest, the board/committee, after affording the individual due process, shall determine whether the individual violated the conflict of interest policy by failing to disclose an actual or potential conflict of interest and, in the event of a determination that a violation occurred, take appropriate disciplinary and corrective action.”

“These documents are available upon request to the office of the president.”

“The process has not changed from the prior year.”