Comprehensive Housing Assistance Inc.

Filing Period

Jul 1, 2011 to Jun 30, 2012

Signed

May 14, 2013

Return Version

2011v1.5

Gross Receipts

$2,426,232

Major Activities

Activity 2

CHAI Housing Management Program provides oversight of the fiscal and tenant management of 14 affordable senior housing projects with 1,485 units, valued at $103 million. All of these projects were built or rehabbed with government funding that restricts tenant eligibility, rental rates and cash distributions. CHAI is the General Partner of 5 projects that are owned by for-profit limited partnerships where we are eligible to receive management fees and limited surplus cash distributions. The other 8 projects are owned by non-profit corporations that are subsidiaries of CHAI from which no cash can be distributed to the owners. CHAI contracts with Edgewood Management Corporation for the onsite management of all 11 senior affordable housing developments.

Activity 3

CHAI is committed to developing affordable housing for the community's senior population. With the rising cost of market rate rental apartments CHAI's Weinberg Senior Apartments are among the few remaining sources of affordable housing for hundreds of low and moderate-income seniors in Northwest Baltimore. CHAI'S Housing Development Program develops and preserves quality, affordable housing in areas with substantial Jewish populations. New multifamily affordable housing units for seniors and renovation of existing affordable housing units for seniors have been developed over the last 18 years by utilizing a variety of funding sources including Federal, State, and Local Governments, private loans, and fundraising. A total of 1,485 affordable housing units in 14 mid-rise apartment buildings have been built or in the process of being completed by CHAI In the next few years, we plan to develop housing for other special needs populations and affordable multifamily housing for families.

Filer

EIN

23-7097000