LOW INCOME & APPLY
Some of you may wonder what classifies as low income housing or what that term actually means.
Some of you may wonder what classifies as low income housing or what that term actually means. Generically, any housing that is limited to occupancy by persons whose family income does not exceed certain preset maximum levels. For purposes of special tax incentives provided to persons who build or rehabilitate “qualified low income housing projects,” the IRS defines the term as (a) any project in which 20 percent or more of the units are both rent restricted and occupied by persons whose income is 30 percent or less of the area median gross income or (b) one in which 40 percent or more of the units are both rent restricted and occupied by persons whose income is 40 percent or less of the area median gross income. We are using USDA standards for income and family size.
That’s where we come in, we want to provide low income homes to families in need. We provide homes that we have personally gone through and renovated and made sure they are safe and built with love. We don’t use property management companies to run anything, we take pride in handling all our properties with pride and respect. We are firm believers in growing our local economy, so we always and taking care of our neighbors. The only qualfying factor is INCOME. We are looking for families that are at least 40% below the AMI for their City. It’s our passion, our dream, our goal.