INDELIBLE HOUSING, INC. ACQUIRED A 50 UNIT ELDERLY LOW INCOME HOUSING PROJECT, MT. CARMEL, AND A 30 UNIT ELDERLY LOW INCOME HOUSING PROJECT, MT. VILLAGE, BOTH IN WATERLOO, IOWA. THE PROPERTIES WERE ACQUIRED WITH DONOR CONTRIBUTIONS AND A LOAN FROM KEY BANK. INDELIBLE USED DONOR FUNDS TO RENOVATE THE PROPERTIES WHICH ARE RENTED TO HUD QUALIFIED FAMILIES AT BELOW MARKET RATES PURSUANT TO SECTION 8. THIS ACQUISITION SOLIDIFIES INDELIBLE'S COMMITTMENT TO HOUSING PRESERVATION IN IOWA. THE PROJECT RECEIVED ADDITIONAL FUNDING IN 2022 AND THE PROJECT WAS CONTRIBUTED TO WATERLOO INDELIBLE HOUSING LLC WITH INDELIBLE HOUSING, INC. RETAINING A 51% INTEREST IN THE PROJECT.