Organization: GIHON UNITY APARTMENTS INC
Mission: PROVIDE FINANCIAL ASSISTANCE TO COMMONLY CONTROLLED SUBSIDIZED HOUSING ENTITIES FOR LOW-INCOME ELDERLY AND DISABLED INDIVIDUALS.
Activities: THE CORPORATION'S BUSINESS OPERATION, A 50 UNIT HOUSING COMPLEX, WAS SOLD IN JANUARY 2009. THE CORPORATION NOW HOLDS A RESIDUAL RECEIPTS NOTE, ANY PROCEEDS FROM WHICH ARE SUBJECT TO RESTRICTIONS ON ITS USE LIMITED TO LOW INCOME HOUSING WITH PRIOR APPROVAL BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). THE ORGANIZATION SUPPORTS THIRTEEN (13) OTHER COMMONLY CONTROLLED ENTITIES OPERATING HUD-APPROVED HOUSING COMPLEXES.
THE CORPORATION SERVES WITHOUT COMPENSATION AS GENERAL PARTNER TO UNITY HOUSING APARTMENTS, L.P., OWNER AND OPERATOR OF FOUR LOW-INCOME APARTMENT COMPLEXES WITH A TOTAL OF 296 UNITS, INCLUDING THE CORPORATION'S PRIOR PROJECT. THE PROJECTS ARE LOCATED IN PARKERSBURG, MORGANTOWN, FAIRMONT, AND WELLSBURG, WEST VIRGINIA.
NTEE category: Housing & Shelter
Secondary category: Community Improvement & Capacity Building