Powell Valley Village

195 Powell Valley Village St, Jonesville, Virginia 24263

Contact Powell Valley Village

Powell Valley Village provides affordable 2-bedroo apartment homes.Each unit features a fully-equipped kitchen, individually controlled heating/cooling units, walk-in closets, washer/dryer hookups, and a private porch or balcony. Water and sewer are included in rent. Handicap units are available. Property amenities include a community laundry facility, picnic area, playground, bike path, and monthly pest control.

Unit (Bd/Ba)	Ft²	Rent
Two Bedroom (2/2)	-	Call for Price

Eligibility for Powell Valley Village

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 Jonesville but actual income limits may differ for units at Powell Valley Village.

AMI Band	1 Person	2 Person	3 Person	4 Person
30%	$14,850	$19,720	$24,860	$30,000
50%	$24,750	$28,250	$31,800	$35,300
80%	$39,550	$45,200	$50,850	$56,500

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 Jonesville but actual income limits may differ for units at Powell Valley Village.

AMI Band	1 Person	2 Person	3 Person	4 Person
Very Low Income (50%)	$24,750	$28,250	$31,800	$35,300

Powell Valley Village Details

34 two bedroom units.
Water and Sewer utilities included in rent
Low-Income Housing Tax Credit (LIHTC)
Section 515 Rural Rental Housing
Section 521 USDA Rental Assistance
HOME Investment Partnerships 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.

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.

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.