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INVt:§TOR§ Ri;AL I:§TATI:: 'UND, INC. <br /> 715 So. Barstow Street <br /> Eau Claire, Wisconsin 54701 <br /> Telephone (715) 834-2691 <br /> <br />PROPOSED "RENT SUPPLEMENT PLAN" FOR HOUSING FOR THE ELDERLY <br /> <br />Q. What is "Investors Real Estate Fund"? <br /> <br />A. It is an association engaged in providing housing for Iow income elderly persons <br /> under the "free enterprise" system; whose members have experience and expertise in <br /> dealing with the agencies which administer federal housing programs. <br /> <br />Q. What is the "Rent Supplement" program? <br /> <br />A. It~is a program administered by the Federal Housing Administration to provide <br /> housing for Iow income elderly citizens. <br /> <br />Q. By whom is the program developed? <br /> <br />A. The facilities are developed by local area developers. <br /> <br />Q. By whom are the facilities constructed? <br /> <br />A. Local and/or outside labor. <br /> <br />Q. Who controls the amount of rent to be paid by the occupants? <br /> <br />A. The Federal Housing Administration. <br /> <br />Q. What capital investment is required of the community? <br /> <br />A. None <br /> <br />Q. What action is required of the community? <br /> <br />A. The adoption of an ordinance to approve participation in the program. <br /> <br />Q. Does the community or federal government lose control upon adoption of the resolution? <br /> <br />A. No. The site location, the established economic rent, the cost of the structure~ the <br /> rules governing occupancy, the allowable return on investment are established by the <br /> Federal Housing Administration. <br /> <br /> <br />