Low-Income Housing Tax Credit (LIHTC) properties are located throughout the county. They are comprised of sixty (60) single-family two (2) and three (3) bedroom homes, forty-seven (47) two (2) and three (3) bedroom apartments, and thirty two (32) elderly only one (1) bedroom apartments.
A common misconception about our LIHTC program is that rents are based on a percentage of household income. While LIHTC tenants do not pay a percentage of their income for rent, we still determine the amount of a household’s gross annual income before the household is allowed to move into a LIHTC unit to ensure that the combined household income does not exceed the maximum LIHTC income limit.
In other words, income in the LIHTC program is about eligibility not rent. Contract rents are established which must be restricted and not exceed the applicable LIHTC maximum gross rent limits throughout the compliance period.
The LIHTC gross rent includes a utility allowance for tenant paid utilities. This allowance is different from some HUD programs in that the LIHTC utility allowance is not deducted from a percentage of the tenant’s income to determine rent. Rather, the LIHTC utility allowance is subtracted from the maximum gross rent limit to determine the maximum amount of rent that can be charged.
Preliminary Eligibility Includes:
- Does not exceed income limit (see income limits below)
- The applicant or head of household must be 18 years of age or an emancipated minor
- All household members CANNOT be Full-Time Students
Household Member Checks:
- Credit report (18+)
- Landlord history (18+)
- Criminal history (18+ and any Personal Care Assistant)