1602 South Staples Housing Inc

The corporation is a nonprofit corporation organized under the laws of texas on august 11, 2008,for the purpose of developing and operating an apartment complex of 6 units (one for mgr.) for developmentally disadvantaged citizens in corpus christi, texas. The project will operate under the provisions of section 811 of the national housing act and regulated by the u.s.department of hud. Such projects are regulated by hud as to rent charges and operating methods. The construction was completed in september 2010. Rent on the apartment units began november 2010.total housing assistance from hud during the year ended december 31, 2015 was $37,582.the project has executed a $550,840 capital advance agreement with u.s. Department of housting and urban development (hud), which requires the utilization of the project pursuant to section 811 for minimum of 40 years.the project received a $85,000 home investment partnership(home) program grant funded through the city of corpus christi, texas.