Monterra Village Associates

860-950 Mantelli Drive, Gilroy, California 95020

Contact Monterra Village Associates

34 units

Unit (Bd/Ba)	Ft²	Rent
Two Bedroom (2/1)	-	From $520 To $894
Three Bedroom (3/1)	-	From $871 To $1,067
Four Bedroom (4/2)	-	From $982 To $1,150

Two Bedroom is Closed

Last updated on October 24th, 2017

Three Bedroom is Closed

Last updated on October 24th, 2017

Four Bedroom is Closed

Last updated on October 24th, 2017

Eligibility for Monterra Village Associates

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 Gilroy but actual income limits may differ for units at Monterra Village Associates.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$62,450	$71,400	$80,300	$89,200	$96,350	$103,500	$110,650	$117,750
Low Income (60%)	$74,940	$85,680	$96,360	$107,040	$115,620	$124,200	$132,780	$141,300

Monterra Village Associates Details

33 two, three and four bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Section 8 Project-Based Rental Assistance (PBRA)

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 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.