Valley Terrace

982 Toomes Ave, Corning, California 96021

Contact Valley Terrace

Eligibility for Valley Terrace

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 Corning but actual income limits may differ for units at Valley Terrace.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30%	$17,350	$19,800	$24,860	$30,000	$35,140	$40,280	$45,420	$50,560
50%	$28,900	$33,000	$37,150	$41,250	$44,550	$47,850	$51,150	$54,450
80%	$46,200	$52,800	$59,400	$65,950	$71,250	$76,550	$81,800	$87,100

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 Corning but actual income limits may differ for units at Valley Terrace.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$28,900	$33,000	$37,150	$41,250	$44,550	$47,850	$51,150	$54,450
Low Income (60%)	$34,680	$39,600	$44,580	$49,500	$53,460	$57,420	$61,380	$65,340

Valley Terrace Details

48 bedroom units.
Section 8 Project-Based Rental Assistance (PBRA)
Low-Income Housing Tax Credit (LIHTC)
Section 515 Rural Rental Housing

Section 8 Project-Based Rental Assistance (PBRA)

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. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.

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.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.