Fountain Flats

1022 Hosbrook Street, Indianapolis, Indiana 46221

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2,3, and 4 Bedroom Units

HUD

Southside Partners, L.P. II, a new and exciting rental property consisting of two, three and four bedroom duplexes and single family homes which have been beautifully renovated. There are a total of 31 units.

As a part of the Section 42 Tax Credit Program, which is intended to make affordable housing available to lower-income persons and households, income limits apply based on the family size. Applicants must meet eligibility requirements of the Section 42 program and the selection criteria including acceptable credit and rental history.

Rents are restricted by the Section 42 program to make them affordable to low-income persons, but they do not vary according to the resident's incomes. However, persons with Section 8 certificates or vouchers are encouraged to apply.

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	700	Call for Price
2 Bedroom (2/1)	800	Call for Price
3 Bedroom (3/1)	1000	Call for Price

Eligibility for Fountain Flats

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 Indianapolis but actual income limits may differ for units at Fountain Flats.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
Very Low Income (50%)	$33,850	$38,700	$43,550	$48,350	$52,250	$56,100
Low Income (60%)	$40,620	$46,440	$52,260	$58,020	$62,700	$67,320

Fountain Flats Details

31 one, two and three bedroom units.
Low-Income Housing Tax Credit (LIHTC)

Property Amenities

Playground
Smoke Free
High Speed Internet Access

Nearby Amenities

Close to Dining
Close to Shopping
Close to Entertainment

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.