Maple Village l & ll Apartments

1695 Meadow Way, Petoskey, Michigan 49770

Contact Maple Village l & ll Apartments

Maple Village is centrally located just 5 minutes from the downtown shopping district of Petoskey, restaurants, and hotels. The community also has easy access to US 131. Maple Village is within walking distance to Wal-Mart, Home Depot, Lowes, and Office Max.

Unit (Bd/Ba)	Ft²	Rent
Two Bedroom (2/2)	-	Call for Price
Three Bedroom (3/2)	-	Call for Price

Eligibility for Maple Village l & ll Apartments

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 Petoskey but actual income limits may differ for units at Maple Village l & ll Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
Very Low Income (50%)	$29,150	$33,300	$37,450	$41,600	$44,950	$48,300
Low Income (60%)	$34,980	$39,960	$44,940	$49,920	$53,940	$57,960

Maple Village l & ll Apartments Details

48 two and three bedroom units.
Low-Income Housing Tax Credit (LIHTC)
HOME Investment Partnerships Program

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.

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.