Park Lake Apartments

295 South Franklin Street, Hempstead, New York 11550

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Park Lake Apartments has 240 Project Based Section 8 units in garden style buildings and it is located in Hempstead, Nassau County, New York.
ALL UTILITIES INCLUDED

Eligibility for Park Lake Apartments

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 Hempstead but actual income limits may differ for units at Park Lake Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
50%	$53,900	$61,600	$69,300	$76,950	$83,150	$89,300	$95,450	$101,600

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 Hempstead but actual income limits may differ for units at Park Lake Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$53,900	$61,600	$69,300	$76,950	$83,150	$89,300	$95,450	$101,600
Low Income (60%)	$64,680	$73,920	$83,160	$92,340	$99,780	$107,160	$114,540	$121,920

Park Lake Apartments Details

240 bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)
Section 236

Property Amenities

Controlled Access
Community Room
On-Site Manager
Surveillance Cameras

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.

Section 236

Apartment communities that participate in the Section 236 program are required to ensure that their units are only available to families with incomes at or below 80% of the area median income. Rents at participating communities must be approved by HUD.