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By the River, Inc. November 2006 <br />Low Income: Residents will be selected on a first come first serve basis as well as referrals <br />from local hospitals and social service agencies. By the River, Inc. will not discriminate <br />against residents based on race, religion or ethnicity. <br />The housing is affordable because the rental amounts correspond with those established by the <br />Florida Housing Finance Corporation to ensure affordability. The income requirements as <br />stated above are in line with the safe harbor requirements as set forth in Revenue Procedure <br />96-32, 1996-1 C.B. 717. <br />Community Need: The housing is affordable to a significant segment of the elderly persons in <br />the community. The community is the geographic region of Indian River County. By keeping <br />100% of the units' set-aside for low-income members of the community this project is <br />ensuring affordability among a large section of the population. <br />In the future, when By the River, Inc. is ready to open, a policy will be established where a <br />reserve fund for maintaining residents who have trouble paying their regular charges is <br />available. This policy will include a resolve to allow residents to remain in place for a period <br />of time to permit them to find alternative housing. <br />Mission Statement: The purpose of By the River is to provide affordable, long-term care <br />services in a financial self-supporting manner for elderly persons of diversity in a sacred <br />conununity atmosphere. We will provide care regardless of sex, color, creed, or nationality of <br />the individual. <br />We secure the freedom of our residents to make independent decisions about care, to enjoy <br />dignity and privacy and to celebrate their faith according to their own traditions. <br />We empower our staff members with the training and support they need to provide meticulous <br />care with heart and compassion to our residents. <br />Articles of Incorporation: Purposes: <br />The purpose or purposes of the corporation are: relief of the poor and distressed and the <br />underprivileged through providing low income housing for the elderly and promotion of <br />health of the elderly, including but not limited to: <br />A. Providing low-income housing for the elderly. <br />B. Meeting the special housing requirements of the elderly. <br />C. Providing a home for aged. <br />D. Relief of the poor and elderly. <br />E. Relief of the distressed of the elderly. <br />F. Promoting health of the elderly. <br />G. Participation in government housing programs, which will benefit the elderly. <br />6 <br />