University Properties

The Corporation is organized exclusively for charitable, scientific, and educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or any other corresponding section of any future federal tax code (the "Code"), particularly to promote the interests of East Stroudsburg University of the State System of Higher Education. The Corporation shall perform the following:

• Engage in the construction, operation, management, and maintenance of student housing facilities or other projects for the benefit of the students of the university and the university's education, scientific, and charitable purposes whether directly or through a single member limited liability company created and owned by the Corporation.
• Provide funds and services to conduct the business of the Corporation.
• Engage in and do any and all acts and engage in all lawful business which a nonprofit corporation may do consistent with or in furtherance of the purposes herein set forth above.