Academy Hill Apartments

400 West Sunset St , Ahoskie, North Carolina 27910

Contact Academy Hill Apartments

Eligibility for Admission/Rental Assistance/Waiting List

Elderly Housing: The Rural Development 515 Program requirements limit occupancy of this property to elderly individuals or families where the tenant or co-tenant is at least 62 years or to non-elderly individuals or families where the tenant or CO-tenant is handicapped or disabled.

Income Limitation: To be eligible for occupancy, the family's adjusted annual income may not exceed the maximum moderate-income limit as defined by USDA - Rural Development.

Units Designed for Mobility-Impaired: This property contains some apartments which were specifically designed to accommodate persons requiring wheelchair accessibility and use. Individuals or families whose head of household or spouse/CO-tenant has a mobility impairment requiring such special design features are eligible to occupy accessible units in this property.

Unit Assignment: 1. Elderly (62 or older) or non-elderly handicapped/disabled for non-accessible units;

2. Persons at least 18 years of age with mobility impairments requiring wheelchair accessibility for accessible units.

NOTE: If no person with mobility impairments (either existing tenant or applicant on waiting list) requires such unit, such unit may be assigned to an individual without a mobility impairment as long as this person agrees to sign a waiver to transfer when such accessible unit becomes needed.

Rural Development Rental Assistance: All residents eligible for assistance are required to pay no more than 30% of their annual adjusted income or 10% of their gross annual income, whichever is greater, for rent and utilities.

Waiting List: Applicant(s) determined eligible for occupancy will be placed on a waiting list in chronological order by the date and time the completed application is received. Eligible applicants will be selected on a first-come, first-served basis with priority given according to income level (1. very low, 2. low, 3. moderate).

Security Deposit: A security deposit in the amount of $250 will be due when a unit becomes available and is accepted by a resident.

Student Eligibility: In addition to meeting all other screening criteria, a student attending an institution of higher learning must meet at least one of the following definitions to be eligible for assistance:

Is 24 years of age or older
Is a veteran
Is married
Has a dependent child
Is living with or applying for assistance with parents
Can prove independence from parents, including verification that the parents did not claim the student on the most recent tax return
Has parents who are income eligible for assistance
Is disabled and was receiving assistance as of November 30, 2005.

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	-	Call for Price
2 Bedroom (2/1)	-	Call for Price
3 Bedroom (3/1)	-	Call for Price
4 Bedroom (4/1)	-	Call for Price

Eligibility for Academy Hill 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 Ahoskie but actual income limits may differ for units at Academy Hill Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$24,250	$27,700	$31,150	$34,600	$37,400	$40,150	$42,950	$45,700
Low Income (60%)	$29,100	$33,240	$37,380	$41,520	$44,880	$48,180	$51,540	$54,840

Academy Hill Apartments Details

40 one, two, three and four bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Section 515 Rural Rental Housing
Section 521 USDA Rental Assistance

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 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.