GRIGGS FARM INC

GRIGGS FARM, INC OWNS 70 AFFORDABLE LOW INCOME UNITS. THE GRIGGS FARM COMMUNITY ALSO INCLUDES 70 AFFORDABLE OWNERSHIP UNITS MANAGED BY THE MUNICIPALITY OF PRINCETON, AND 140 MARKET RATE PRIVATE OWNERSHIP UNITS. GRIGGS FARM WAS DEVELOPED THROUGH THE FEDERAL LOW INCOME HOUSING TAX CREDIT PROGRAM, ALL TAX CREDITS WERE REDEEMED IN 2005 THERE ARE NO CURRENT GOVERNMENT SUBSIDIES AND GRIGGS FARM INC'S OPERATIONS ARE FINANCED SOLELY FROM THE RENTAL INCOME DERIVED FROM ITS 70 UNITS. THROUGH CAREFUL MANAGEMENT, WE ARE ABLE TO HOLD RENTS TO 30% OF EACH HOUSEHOLD'S GROSS INCOME. PCH DEVELOPMENT CORP A RELATED NONPROFIT ORGANIZATION, MANAGES THE UNITS AND OPERATIONS GRIGGS FARM IS SERVED DAILY VIA PUBLIC BUS TRANSPORTATION, ENABLING RESIDENTS TO TRAVEL TO NEARBY JOBS AND SHOPPING, DOWNTOWN PRINCETON AND AREA MALLS. GRIGGS FARM, INC WORKS WITH MERCER STREET FRIENDS TO OFFER A TWICE-A-MONTH FOOD PANTRY TO RESIDENTS (FREE OF CHARGE) WHO ARE INCOME QUALIFIED STAFF AND VOLUNTEERS, MAKE SURE THAT FOOD BAGS ARE DISTRIBUTED TO EACH ELIGIBLE HOUSEHOLD. THE FOOD IS PURCHASED THROUGH THE GRIGGS FARM INC OPERATING BUDGET OR DONATED EVERY THANKSGIVING. FOOD PANTRY HOUSEHOLDS ALSO RECEIVE A TURKEY AND TRIMMING AT NO COST. GRIGGS FARM INC ALSO PROVIDES RESIDENTS WITH CHILDREN UNDER THE AGE OF 18 WITH A STIPEND TO SUBSIDIZE SUMMER ACTIVITIES ADMINISTERED THROUGH VARIOUS LOCAL ENRICHMENT PROGRAMS, INCLUDING THE MUNICIPAL RECREATION DEPARTMENT A REPRESENTATIVE FROM THE PCH BOARD OF TRUSTEES AND INTERNAL. GRIGGS FARM COMMITTEE WORKS CLOSELY WITH THE GRIGGS FARM CONDO ASSOCIATION AND ITS BOARD TO ENSURE CONSTANT COMMUNICATION THERE IS ALSO A COMMUNITY CLUBHOUSE ON SITE FOR RESIDENT USE. ELIGIBLE RESIDENTS MAY PARTICIPATE IN THE FOOD PANTRY AND SUMMER RECREATION STIPEND PROGRAMS.