Village of Grand Oaks is managed by Fox Grove Management.
The Village of Grand Oak I is a series of 29 2, 3, and 4-bedroom single and multifamily units located in the JeffVanderLou Neighborhood of St. Louis City. This property includes units that will be rent restricted to households at or below 60% of the area median income.
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 Aurora but actual income limits may differ for units at Village of Grand Oaks.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
---|---|---|---|---|---|---|---|---|
Low Income (60%) | $32,520 | $37,140 | $41,760 | $46,380 | $50,100 | $53,820 | $57,540 | $61,260 |
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.