Woodlake Village II

8901 E. 5th Ave, Gary, Indiana 46403

Woodlake Village is located off of US-20 and County Line Rd. We are just minutes from Indiana Sand Dunes and South Shore Transit that will take you to Downtown Chicago for the local attractions.

Unit (Bd/Ba)	Ft²	Rent
The Cypress (1/1)	625	Call for Price
The Iris (2/1)	800	Call for Price
The Pine (2/1)	825	Call for Price
The Tulip (2/1.5)	870	Call for Price
The Williow (3/1)	1100	Call for Price

Eligibility for Woodlake Village II

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 Gary but actual income limits may differ for units at Woodlake Village II.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
30%	$18,800	$21,450	$24,860	$30,000	$35,140	$40,280
50%	$31,300	$35,750	$40,200	$44,650	$48,250	$51,800
80%	$50,050	$57,200	$64,350	$71,450	$77,200	$82,900

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 Gary but actual income limits may differ for units at Woodlake Village II.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
Very Low Income (50%)	$31,300	$35,750	$40,200	$44,650	$48,250	$51,800

Woodlake Village II Details

170 one, two and three bedroom units.
$16.50 application fee
Section 8 Project-Based Rental Assistance (PBRA)
FHA Mortgage Insurance/subsidy
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)

Property Amenities

Playground
Community Room
24hr Emergency Maintenance
Laundry Centers

Unit Amenities

Utilities Included
Walk-in Closet(s)
Gas Included

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.