Kayak Crossing Apartments are owned and operated by the EagleBend Dowd Affordable Housing Corporation, a Colorado non-profit corporation formed pursuant to the guidelines of revenue ruling 1963-20. The formation of the Corporation was approved by the Town of Avon and the Corporation is being operated exclusively on behalf of and for the benefit of the Town. All moneys of the Corporation must be used exclusively for the operation, maintenance and development of the property of the Corporation, including payment of the obligation of the Corporation, which property must be used to provide housing at affordable rental rates to individuals or families of low or moderate income.
The management of the Corporation is accomplished through a Board of Directors (the "Board") which oversees administration, operations and maintenance of the Project. The board consists of 5 directors. The property is being managed by Polar Star Properties under an agreement with the Corporation. The present members of the Board are Gerald E. Flynn, Jeffery M. Spanel, Craig Ferraro and Megan Burch.