Tulip Cove Apartments originated in the mid 1960’s as Garden Park Apartments, providing affordable convenient housing to the Pulaski, Tennessee community. Tulip Cove emerged as a low income housing tax credit property in 2001 when Brindley & Associates, Inc. assisted with the re-development, rehabilitation of the aging property. The traditional modernized Tulip Cove furnishes one, two, three bedroom floor plans with appliances and laundry hook-up. The tax credit structure facilitates housing needs of moderate and middle income households.
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 Pulaski but actual income limits may differ for units at Tulip Cove.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$21,050||$24,050||$27,050||$30,050||$32,500||$34,900||$37,300||$39,700|
|Low Income (60%)||$25,260||$28,860||$32,460||$36,060||$39,000||$41,880||$44,760||$47,640|