Berry
Ridge Apartments is a Section 42 Tax Credit Project which means
that federal tax credit subsidies were given to help finance the
property. Because of the subsidies received, the owner is
required to hold the maximum rent charged at or below a level
considered appropriate for the households that have incomes at or
below 60% of the median household income for the county. This
maximum rent that can be charged is calculated at 30% of the 60% of
the median monthly household income less a utility allowance which
is determined by the Department of Housing and Urban Development.
Applicants must also qualify to live in the community by
demonstrating that their annual household income is at or below 60%
of the median income for the county where the community is
located.
Below are two lists,
one is the maximum household incomes allowed to qualify for
residency based on the number of people in the household, and the
second is the maximum allowable rent for the one and two bedroom
apartments.