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Valley Oaks Apartments

351 N West St, Tulare, California 93274

The first phase of Valley Oaks, developed in partnership between Las Palmas and Payne Development Corporation, was completed in December of 2007. The 81 units are made up of ten (10) two-story buildings and one (1) two-story recreation building. The recreation building contains an office, multi-purpose room, laundry facilities, and a computer center. The second phase of Valley Oaks was completed in 2011, which added another 72 units for a grand total of 121 units.

Valley Oaks Apartments Details

  • 72 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Fitness Center
  • Tot Lot
  • BBQ/Picnic Area
  • Computer Lab
  • Community Room
  • On-Site Management
  • Laundry Facilities
  • High Speed Internet Access
  • Swimming pool

Low-Income Housing Tax Credit (LIHTC)

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.

Tulare Low-Income Housing Tax Credit Income Limits

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 Tulare but actual income limits may differ for units at Valley Oaks Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $24,500 $28,000 $31,500 $34,950 $37,750 $40,550 $43,350 $46,150
Low Income (60%) $29,400 $33,600 $37,800 $41,940 $45,300 $48,660 $52,020 $55,380

Valley Oaks Apartments 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.

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