Oak Terrace offers numerous amenities including central air, dishwashers, exterior access to units, washer/dryer hook-ups in units, ceiling fans, and computer/internet access in the community room. Property is conveniently located near restaurants, groceries, gas, public transportation, and Ottumwa High School. Supportive services available thru SEIDA.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
Three Bedroom (3/1.5) | - | Call for Price |
Four Bedroom (4/1.5) | - | Call for Price |
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 Ottumwa but actual income limits may differ for units at Oak Terrace.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
---|---|---|---|---|---|---|---|---|
Very Low Income (50%) | $29,250 | $33,400 | $37,600 | $41,750 | $45,100 | $48,450 | $51,800 | $55,150 |
Low Income (60%) | $35,100 | $40,080 | $45,120 | $50,100 | $54,120 | $58,140 | $62,160 | $66,180 |
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.