Balsam Hill Apartments and Townhomes

2020 Commerce Blvd, Mound, Minnesota 55364

Contact Balsam Hill Apartments and Townhomes

Balsam Hill Apartments and Townhomes offers studio, 1, and 2 bedroom apartments and 3 bedroom townhomes. Amenities include a community room and kitchen, landscaped courtyard with grill and on-site surface parking. In-unit features include hardwood floors, walk-in closets*, dishwashers*, air conditioning and on-site laundry facilities. This property is smoke-free and pet friendly.

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	-	Income Based
1 Bedroom (1/1)	-	Income Based
2 Bedroom (2/1)	-	Income Based
3 Bedroom (3/1)	-	Income Based

Waiting List is Open Now

Last updated on March 25th, 2019

Eligibility for Balsam Hill Apartments and Townhomes

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 Mound but actual income limits may differ for units at Balsam Hill Apartments and Townhomes.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
30%	$26,100	$29,800	$33,550	$37,250	$40,250	$43,250
50%	$43,500	$49,700	$55,900	$62,100	$67,100	$72,050
80%	$66,300	$75,750	$85,200	$94,650	$102,250	$109,800

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 Mound but actual income limits may differ for units at Balsam Hill Apartments and Townhomes.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
Very Low Income (50%)	$43,500	$49,700	$55,900	$62,100	$67,100	$72,050

Balsam Hill Apartments and Townhomes Details

4 studio, one, two and three bedroom units.
HOME Investment Partnerships Program
Section 8 Project-Based Rental Assistance (PBRA)
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)

Property Amenities

Community Room
On-Site Manager
On-Site Parking
On Bus-line
On-Site Laundry

Unit Amenities

Washer and Dryer Included

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.

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.