Shepherd Housing Inc

“Management fee: the project pays a management fee equal to 6.006% of rent and other income collected to beacon management corporation. The project also reimburses beacon management corporation front line accounting and administrative expenses. This reimbursement amounted to 4,656 for the year ended september 30, 2024. Beacon management corporation was owed 1,239 in accrued management fees at year-end. In addition, the project reimburses beacon management corporation for wages, payroll taxes and benefits for its on-site staff. For the year ending september 30, 2024, these reimbursements amounted to 52,524.”

“No review was or will be conducted.”

“No documents available to the public”

“The project was formed as a non-profit corporation under the laws of the state of north carolina for the purpose of constructing and operating a rental housing project under section 202 of the national housing act. In april of 2006, the project refinanced its hud section 202 loan with one covered by hud mortgage insurance under section 223(f) of the national housing act. The project consists of 20 hud-assisted housing units in greensboro, north carolina and is currently operating under the name of shepherd house. Such projects are regulated by hud as to rent charges and operating methods. Occupancy is restricted by hud to very low-income adults with disabilities. A significant portion of the projects rental income is received from hud under a section 8 project assistance contract (pac). The projects nonmajor program is its section 8 rent subsidy. Financing was provided by a hud insured loan under section 207 pursuant to section 223(f) of the national housing act. The projects mortgage is its major hud program.”

“Supplies 13,636 0 0 office expenses 6,109 0 0 garbage and trash removal 6,106 0 0 mortgage insurance premium 3,499 0 0 conventions and meetings 574 0 0 security 496 0 0 miscellaneous admin 146 0 0 elderly care expenses 138 0 0 legal 126 0 0 total 30,830 0 0”