When the Brainerd School District decided to replace Franklin Junior High School, a civic landmark since 1932, it formed a citizens’ committee to find the best new use for the building. The committee concluded that an arts center offered the most potential benefit for the community. Thus was conceived the Franklin Arts Center, now a mixed-use facility with 25 live/work apartments for artists and their families; 37,775 square feet of artist studios and space for arts organizations and creative businesses; and 36,247 square feet (two gymnasiums and an auditorium) operated as community space by the School District.
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 Brainerd but actual income limits may differ for units at Franklin Arts Center.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
---|---|---|---|---|---|---|---|---|
Very Low Income (50%) | $30,900 | $35,300 | $39,700 | $44,100 | $47,650 | $51,200 | $54,700 | $58,250 |
Low Income (60%) | $37,080 | $42,360 | $47,640 | $52,920 | $57,180 | $61,440 | $65,640 | $69,900 |
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.