Monroe Group continues to monitor the current environment as the situation continues to change and evolve. We are, first and foremost, committed to the health and safety of our residents, team members, vendors, partners and the communities that we own and manage. We have adopted new policies and procedures during this crisis that follow the Centers for Disease Control and Prevention (CDC) recommendations and comply with all state and local government mandates to help reduce the spread of the virus.
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Low-Income Housing Tax Credit (LIHTC) offers you affordable rents that are lower than similar market rate units in your community. Since it was created in 1986, LIHTC has financed close to 3 million affordable apartments, providing homes to approximately 6.5 million low-income households. It is responsible for almost all affordable housing production in the United States. We accept vouchers from your local housing authority. Student restrictions apply.
ELIGIBILITY: You will need to complete an application. The following factors determine your eligibility:
INCOME LIMITS: Your income level is based on you (and your family’s) projected gross income (including assets) for the next 12 months. HUD determines the qualified income levels based on the median income level for your city or county(AMGI) and the number of people in your household.
When you are applying for a LIHTC apartment, we, as the landlord, will need verification of your income and assets. We will ask you to complete a Tenant Income Certification form.
RENT: Income restrictions apply. The rent you pay is based on matching your income with the area median gross income (AMGI). The tax credit may also include a utility allowance.
Let us know if you have any questions about qualifying for LIHTC housing. We look forward to welcoming you and your family to our community!