Cottonwood Springs I

516 Ross Street, Davenport, Washington 99122

Cottonwood Springs I, located at 516 Ross Street in Davenport, has one bedroom apartments. Cottonwood Springs I participates in the Section 8 Project-Based Rental Assistance and Low-Income Housing Tax Credit (LIHTC) programs.

Contact Cottonwood Springs I

Message Cottonwood Springs I

Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) - $518

Cottonwood Springs I Details

  • 15 one bedroom units.
  • Project-Based Rental Assistance

Property Amenities

  • Covered Parking
  • Off-Street Parking

Unit Amenities

  • Cable/Satellite TV
  • Private Patios

About Cottonwood Springs I

Cottonwood Springs I consists of 15 garden style units located in Davenport, Washington, which is the county seat for Lincoln County. There are two garden style one story buildings containing all 1 bedroom units, a laundry room and a community room for tenant use. The project was designed for active seniors and all units are set aside for residents 62 years of age or older. HUD provides project based rental assistance for this property. Tax Credits were issued through the Washington State Housing Finance Commission and the sale proceeds of those tax credits financed a rehab of the property.

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.

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.

Davenport HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Davenport but actual income limits may differ for units at Cottonwood Springs I.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $13,550 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $42,450
50% $22,550 $25,750 $28,950 $32,150 $34,750 $37,300 $39,900 $42,450
80% $36,050 $41,200 $46,350 $51,450 $55,600 $59,700 $63,800 $67,950

Davenport 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 Davenport but actual income limits may differ for units at Cottonwood Springs I.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $22,550 $25,750 $28,950 $32,150 $34,750 $37,300 $39,900 $42,450
Low Income (60%) $27,060 $30,900 $34,740 $38,580 $41,700 $44,760 $47,880 $50,940

These general income qualifications for Davenport, Washington should only be used as a basic guide. To find out if you qualify, contact the community directly.

Cottonwood Springs I was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and receives rental subsidies through HUD-Assisted Housing. These programs have different income limits that can lead to apartments in the same property having different income requirements.

You can make up to 80% of the Area Median Income (AMI) and be eligible for a HUD-Assisted Housing unit. However, you can earn at most 60% of AMI to be eligible for a LIHTC property and many units may be set aside for those with the lowest incomes (down to 15% of AMI). LIHTC properties may also contain some market rate units.

Since Cottonwood Springs I has both programs, the most restrictive of the income limits will apply for each unit. If the entire property is funded by LIHTC, the LIHTC income limit of 60% AMI would be used for all units. Apartments in properties with some units not funded by the LIHTC, but receiving Section 8 assistance, would be open to households making up to 80% AMI. Market rate units would have no subsidies or income restrictions.

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.

Cottonwood Springs I is managed by Spokane Housing Ventures (SHV).

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Nearby Low Income Apartment Communities

Cottonwood Springs II

420 Ross Street
Davenport, WA
$465-515
1-2 BR
Subsidized