Woolson Block

Eligibility for Woolson Block

Woolson Block Details

• 20 one and two bedroom units.
• Low-Income Housing Tax Credit (LIHTC)
• Community Development Block Grant (CDBG)
• State or Local Program

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.

Community Development Block Grant (CDBG)

This property may receive funding from a participating jurisdiction (local or state government agency) through the HUD Community Development Block Grant (CDBG) Program. If funding is used to meet the CDBG national housing objective, at least 51% of the units must be initially occupied by households earning 80% or less of area median income. The local jurisdiction defines affordable rents for these units.

Images of Woolson Block