About Holly Park Phase II
Holly Park Phase II participates in the Low Income Housing Tax Credit, and HOME programs.
Low Income Housing Tax Credit
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, monthly rent cannot exceed the Tax Credit maximum rent for the area. Households earning less than 60% of the area median income qualify for units with reduced rent. Some rental units in this property may not be subject to LIHTC, not have income limits and therefore may be set at levels higher than the LIHTC limits below.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
The HOME Rental Assistance Program provides affordable housing to low and moderate income families. Apartment communities that participate in the program must ensure that 90% of units are occupied by households at or below 60% of the area median income and the remaining 10% of the units are occupied by households at or below 80% of the area median income. Furthermore, if the community has five or more units participating in the HOME program, 20% of those units must be occupied for households at or below 50% of the area median income.