1200 Park Avenue, located at 1200 Park Avenue in Chico, has one and two bedroom high rise style apartments. 1200 Park Avenue participates in the Low-Income Housing Tax Credit (LIHTC) and HOME Investment Partnerships Program programs.
|One Bedroom (1/1)||585||From $502|
|Two Bedroom (2/1)||760||From $746|
|Two Bedroom Deluxe (2/1)||880||From $344 To $609|
Choose from new one and two bedroom affordable apartment homes designed with your convenience in mind. Enjoy all new Whirlpool energy efficient appliances, designer floor coverings with coordinating counter tops and cabinets. Welcome home to ease and comfort for everyday life. 1200 Park Avenue Senior Apartments provide affordable living. Keep in touch with family and friends in our computer room. Throw a party or special event in our spacious dining room. Watch TV with neighbors in our living room. Enjoy a challenging game of chess or relax with a good book from our library. Experience life at its best at 1200 Park Avenue!
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Chico but actual income limits may differ for units at 1200 Park Avenue.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$23,300||$26,600||$29,950||$33,250||$35,950||$38,600||$41,250||$43,900|
|Low Income (60%)||$27,960||$31,920||$35,940||$39,900||$43,140||$46,320||$49,500||$52,680|
1200 Park Avenue was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.
Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.
1200 Park Avenue is managed by WinnResidential .