Pro Viviendas III Inc

“Pro viviendas iii, inc. Entered into an agreement with an agent for the management and administration of the project. The agreement also provides for other services such as accounting and rental. Hud also approved an oversight management fee to producir, inc.”

“Producir, inc. Is the sole member of the organization.”

“The organization has a sole member, producir, inc., with the sole power to appoint and remove the directors of the entity, which right may not be altered, amended, or eliminated without the approval of the board of directors of producir, inc. The board of directors of pro viviendas iii, inc. Is the governing body of the entity and makes all decisions by majority, except for the appointment and removal of directors and any change to the procedure by which the board of directors takes action without a meeting.”

“See response for line 7a.”

“The federal tax return (form 990) of pro viviendas iii, inc. Is prepared by a contracted external certified public accountant. The return is provided to the tax department of the management agent for its review. Once approved, the return is provided to a high ranking officer of the entity (usually the president) for signature.”

“Officers and directors are required to attend seminars, usually on a yearly basis, to refresh and reinforce their understanding of the duties and responsibilities as officers and directors of the entity. These seminars include the discussion of the organization's policy and rules regarding conflicts of interest and the importance to follow such rules at all times.”

“The governing documents of the organization, its conflict of interest policy and financial statements are all made available to the public upon request. They can be requested at any time to the entity's representatives, including an authorized representative of the entity's member, any member of the board of directors and/or officers, and any authorized representative of the management agent.”