City Center Apartments is a Section 42 Tax Credit
Project which means that federal tax credit subsidies were given to
help finance the property. Because of the subsidies received,
the owner is required to hold the maximum rent charged at or below
a level considered appropriate for the households that have incomes
at or below 60% of the median household income for the
county. This maximum rent that can be charged is calculated
at 30% of the 60% of the median monthly household income less a
utility allowance which is determined by the Department of Housing
and Urban Development. Applicants must also qualify to live in the
community by demonstrating that their annual household income is at
or below 60% of the median income for the county where the
community is located.
Below are
two lists, one is the maximum household incomes allowed to qualify
for residency based on the number of people in the household, and
the second is the maximum allowable rent for the studio, one and
two bedroom apartments.
