Prh Preservation Inc.

“A copy of the Form 990 is provided to the Board prior to filing with the IRS.”

“Board members have a duty to disclose any actual or possible conflict of interest, any interested person must disclose the existence of his or her financial interest and must be given the opportunity to disclose all material facts to the directors and members of committees with Board-delegated powers considering the proposed transactions or arrangement. Should a conflict arise the Board follows the procedures in its policy for addressing such conflict of interest.”

“Upon request.”

“The Executive Director, Eureka Gilkey, is compensated by Project Row Houses. Project Row Houses' Board determines the Executive Director's salary based on data from comparable organizations and budgetary considerations.”

“PRH Preservation purchases existing single-family homes in the area, renovate them, and rents them to low-income individuals at subsidized, below-market rates. In addition, PRH Preservation will develop new affordable housing for Third Ward residents. On February 5, 2018, Project Row Houses ("PRH") conveyed to PRH Preservation one block of land in Houston's Third Ward. PRH had acquired the Webster Block with funding from the Kinder Foundation. The Webster Block is south of Buffalo Bayou, surrounded by Webster Avenue, Nagel Street, Hadley Street, and Live Oak Street. The Webster Block also contains vacant land, and PRH Preservation intends to add approximately ten new shotgun-style homes, off-street parking, a shared outdoor activity area, and landscape improvements. The renovation and redevelopment of the Webster Block will serve as a model for future renovation and redevelopment in the Third Ward, both by PRH Preservation and other area organizations. PRH Preservation intends to renovate and construct additional shotgun-style houses in planned clusters similar to the Webster Block. Upon renovation and construction, PRH Preservation will lease these homes to low or moderate-income residents at below-market rates and operate such properties as the Webster Block homes. It is anticipated that all homes owned by PRH Preservation will operate below break-even, like the Webster Block houses, and will be subsidized by charitable contributions.”