About 1316 AVENUE EAST:
What is the Low Income Housing Tax Credit (LIHTC) program?
LIHTC housing is made available by privately-owned communities and units for rent within those communities are rent-controlled. Typically the rent will be 30% of whatever the qualifying income for the unit is. Each unit can be given a different qualifying level. For example, if a unit is given a 50% qualifying level, the tenant must make no more than 50% of the area's median income. Rent would be 30% of half of the monthly median income. Example: Unit A is set as a 50% unit. Area median income is $60,000. 50% (half) of the area median income is $30,000. So the tenant can't make more than $30,000 to qualify, which is $2,500 per month. Rent would be 30% of $2,500, which would be $750. Please note that these figures are only an example and do not represent the actual rent that will be set for these units. For more information about LIHTC program please see How Does LIHTC Work for Seniors.
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How To Apply
It is not uncommon to not hear back from Affordable Hosuing Providers when leaving messages. Many property managers will float from one property to another and will have several communities that they are responsible for managing. If you are not successful with calling and submitting contact forms, you may find it more beneficial to visit the community in person to speak with the manager directly. If a manager is not available when you go by, try to ask a community resident if they know what days and hours that the manager normally keeps. if you can't go yourself, try to ask a relative or friend to go on your behalf.
Application Tips
- Please keep in mind that most communities will charge an application fee, typically between $25 and $50
- If you apply at several communities you will need to apply at each one separately and pay an application fee for each one separately.
- Application fees usually will need to be in the form of a money order, most communities will not accept cash or checks.
- Application Fees are not refundable
- You will need to speak with the manager at the community to find out what other information you will need to submit in order to apply. Most will require at least:
- Drivers License or state or government issued picture ID
- Copy of your Social Security Card
- Proof of ALL Income
- Bank Statements for ALL Accounts
- 3 Credit References
- 3 Personal References
- You will probably have to sign a release for a credit check and a criminal background check.
Good Luck!
