Welcome to Carver Park Townhomes! We want to do everything we can to make Carver Park Townhomes a safe, happy and comfortable home for you.
The Housing Credit Program is an affordable housing program for individuals and families on fixed or lower incomes. The Program was created by Congress in 1986 as part of the Tax Reform Act and is administered by the Internal Revenue Service.
At Carver Park Townhomes we offer a variety of amenities. Friendly and professional staff, 24 hour Emergency Maintenance Service, spacious floor plans just to name a few! You may be aware that living in a tax credit community brings some additional responsibilities beyond those at other communities. Your responsibilities-and ours-are spelled out in the lease and house rules.
- Central Air/Heating
- All Electric Kitchen
- Garbage Disposals
- Spacious Floor Plans
- Inside storage room
- Washer/Dryer Hook-ups
- Neutral Carpeted Floors
- Cable ready
- Initial lease term is 12 months.
- Carver Park Townhomes has a no pet policy
Benefits to You
The benefit to Residents living in such housing is a newly constructed or substantially rehabbed apartment home with rents lower than the market rate. The rents are 30% of the area median income as published by HUD, often resulting in rents substantially lower than other comparable apartments. Each year the rents will be reviewed to ensure they remain at 30% of the area median income.
Incentive to Owners
Owners are offered a reduction in their tax liability in exchange for offering quality housing at these fixed rents. To receive this reduction, the Owners must certify the Residents are qualified under the Program requirements and are paying the correct amount of rent.
Determining Your Eligibility
To find out if you are eligible for the Low Income Housing Tax Credit Program, management must determine if you:
- Are Income Eligible
- Meet the Other Program Requirements
- Meet their Resident Selection Criteria
If it is determined that you meet all Program Requirements and management's Resident Selection Criteria, you will be qualified for the Low Income Housing Tax Credit apartment.
To be income eligible, your Total Household Income, including income from your assets, must be less than or equal to the pre-set income limit for the area. For management to make this determination, they will need to conduct the following:
- An interview with you and the other adult members of your household to determine all income and asset sources.
- Verify all income and assets through the appropriate source. It will be your responsibility to assist management with this step and to provide all the necessary information to expedite this process. (Give names and address of all sources, etc.)
- Calculate your Total Household Income using the information provided by your income and asset sources.
If your Total Household Income is less than or equal to the pre-set area income limit, your household is INCOME ELIGIBLE.
Other Requirements Program Requirements and Resident Selection Criteria
The Other Program requirements are often specific to the apartment complex and even the apartment you are applying to move into. Some apartment complexes or individual apartments may be designated for certain population groups such as older adults, individuals with disabilities or persons determined to be homeless. Discuss these other requirements with the management staff.