Prairie Pointe
130 Hastings Way, Monmouth, Illinois 61462
Contact Prairie Pointe
Prairie Pointe is managed by UPHOLDINGS, LLC.
Prairie Pointe is a family housing development located on an approximately 10-acre parcel of land within the Monmouth City limits. In conjunction with the City of Monmouth and the local housing authority, 40 large dwelling spaces were built with a mixture of two-, three-, and four-bedroom units. This development was originally built to focus on factory workers and their families who sought the excellent employment opportunities available in Monmouth at Farmland Foods’ local food processing plant—the area’s largest employer—yet were commuting up to 100 miles daily on account of the lack of affordably-priced quality housing in the area.
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Two Bedroom (2/1) | - | Call for Price |
| Three Bedroom (3/1.5) | - | Call for Price |
| Four Bedroom (4/2) | - | Call for Price |
Eligibility for Prairie Pointe
Prairie Pointe Details
- 40 two, three and four bedroom units.
- HOME Investment Partnerships Program
- Low-Income Housing Tax Credit (LIHTC)
Property Amenities
- Playground
- BBQ and Picnic Area
- Community Room
- Walking Trails
- Community Garden
- High Speed Internet Access
HOME Investment Partnerships Program
This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.
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.
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