Preserving Alameda County Housing Inc

PRESERVING ALAMEDA COUNTY HOUSING (PACH)WAS ORGANIZED FOR THE PURPOSE OF DEVELOPING, ACQUIRING, OWNING, LEASING, REHABILITATING AND OPERATING AFFORDABLE HOUSING UNITS & TO SERVE AS A SUPPORT CORPORATION FOR THE HOUSING AUTHORITY OF ALAMEDA COUNTY.

PROPERTY RENTS - THE SPECIFIC CHARITABLE AND PUBLIC PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED ARE TO BENEFIT AND SUPPORT THE HOUSING AUTHORITY OF THE COUNTY OF ALAMEDA, A PUBLIC BODY, CORPORATE AND POLITIC ("HACA") AND ITS PURPOSES IN ACCORDANCE WITH SECTION 509(A){3XA) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, BY (I) PROVIDING AFFORDABLE HOUSING FOR LOW-INCOME PERSONS AND HOUSEHOLDS WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH GROUPS; (II) PROVIDING DECENT, SAFE AND SANITARY HOUSING FOR AND ASSISTING LOW-INCOME PERSONS AND HOUSEHOLDS BY ENABLING THEM TO SECURE THE BASIC HUMAN NEED OF DECENT SHELTER; (III) COMBATING BLIGHT AND DETERIORATION IN COMMUNITIES AND CONTRIBUTING TO THEIR PHYSICAL IMPROVEMENT; (IV) LESSENING THE BURDEN OF GOVERNMENT BY ACQUIRING LEASEHOLD OR FEE INTERESTS IN HOUSING FOR LOW-INCOME PERSONS AND HOUSEHOLDS THAT WAS PREVIOUSLY OWNED BY HACA AS LOW INCOME PUBLIC HOUSING AND CONTINUING TO OPERATE IT AS HOUSING FOR LOW-INCOME HOUSEHOLDS: (V) PROMOTING SOCIAL WELFARE THROUGH COMMUNITY BASED HOUSING ACTIVITIES; (VI) BUYING, OWNING, SELLING. ASSIGNING, MORTGAGING, OR LEASING ANY INTEREST IN REAL ESTATE AND PERSONAL PROPERTY AND CONSTRUCTING, MAINTAINING, AND OPERATING IMPROVEMENTS THEREON NECESSARY OR INCIDENT TO THE PROVISION OF AFFORDABLE HOUSING; (VII) BORROWING MONEY AND ISSUING EVIDENCE OF INDEBTEDNESS IN FURTHERANCE OF ANY OR ALL OF THE OBJECTS OF ITS BUSINESS, AND SECURING THE SAME BY MORTGAGE, PLEDGE OR OTHER LIEN ON THE CORPORATION'S PROPERTY; AND (VIII) BY CARRYING OUT SUCH OTHER ACTIVITIES AS THE BOARD OF DIRECTORS OF THE CORPORATION DETERMINES WILL BENEFIT AND SUPPORT HACA.