FAIRMOUNT TERRACE

Properties typical of HDSI Management's portfolio are buildings located in urban areas and monitored by many levels of government administrators. The majority of properties have been built through assistance from Federal, State and local goverments, and some have had their equity provided by tax credit investors. The combination of development sources generally makes the apartments affordable to low- and moderate-income households. Typical of the government funding vehicles are programs operated by the Department of Housing and Urban Development (HUD), the Internal Revenue Service, local community development agencies, housing authorities and the State of California.