Bay Oaks, located at 2400 Gloria Way in East Palo Alto, has two, three and four bedroom apartments. Bay Oaks participates in the Low-Income Housing Tax Credit (LIHTC) program.
Bay Oaks is not currently accepting applications.Last updated on July 29th, 2019
|2 Bedroom (2/1)||-||Income Based|
|3 Bedroom (3/1)||-||Income Based|
|4 Bedroom (4/1)||-||Income Based|
Bay Oaks is a joint venture between MidPen Housing and East Palo Alto CAN DO, a community-based non-profit organization. Located adjacent to East Palo Alto City Hall, Bay Oaks is part of planned community that includes 24 condominiums developed by Peninsula Habitat for Humanity. With attractive landscaping, front porch-style private entries, numerous windows and vaulted ceilings, the townhouses of Bay Oaks accentuate East Palo Alto's architectural heritage. The 1,300-square-foot Oakes-Mouton Community Center features a large meeting room, a community kitchen, a children's play area and a computer center. The site includes a large outdoor playground, a barbecue and patio area, and a community garden area. Bay Oaks was the first major affordable housing development in East Palo Alto.
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.
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 East Palo Alto but actual income limits may differ for units at Bay Oaks.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$56,450||$64,500||$72,550||$80,600||$87,050||$93,500||$99,950||$106,400|
|Low Income (60%)||$67,740||$77,400||$87,060||$96,720||$104,460||$112,200||$119,940||$127,680|
Bay Oaks 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.