The first phase of Harvard Court Apartments, developed in partnership between Las Palmas and Payne Development Corporation, was completed in November of 2007. It consists of 81 units available to families earning between 30% – 60% of the area median income. The project consists of ten (10) two-story buildings and one (1) two-story recreation building designed in a classic California contemporary style. The second phase of Harvard Court Apartments was completed in June of 2008, which added another five (5) two-story buildings and forty (40) units for a grand total of 121 units.
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 Lindsay but actual income limits may differ for units at Harvard Court Apartments.
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 |
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.