Spindletop Housing Corporation

Spindletop Housing Corporation owns The Cottages at Spindletop, which is managed by Spindletop Center.

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The Housing Corporation is a nonprofit corporation organized under the Texas Business Organizations Code and is tax-exempt under Section 501(c)(3) of the Internal Revenue Code. The Housing Corporation is a component unit of Spindletop Center (“the Center”).

 

The primary purpose of the Housing Corporation is to construct and operate a United States Department of Housing and Urban Development ("HUD") project consisting of 15 apartments for low-income individuals with mental health disabilities.

 

Land was transferred by the Center to the Housing Corporation to begin construction, with funding provided by a HUD Section 811 grant and the city of Beaumont under a HOME grant from HUD. Construction was completed during early fiscal year 2015 and the first tenant moved in on January 2, 2015.

 

Substantially all of the Housing Corporation’s income is derived from the rental of its housing units.