Hacienda Community Development Corporation

Hacienda Community Development Corporation Apartment Details

Provides listings of affordable housing. http://haciendacdc.org/affordable-housing/rental-properties

Most of Hacienda's housing is made affordable by the investment of private equity partners in an indirect federal program known as the Low Income Housing Tax Credit Program (LIHTC). About 70% of the cost of a new project is funded with this program. The remaining funds are made up of about eight additional sources including HOME, Section 108, low-income weatherization, OHCS trust fund, and small private grants.

The LIHTC Program, which is based on Section 42 of the Internal Revenue Code, was enacted by Congress in 1986 to provide the private market with an incentive to invest in affordable rental housing. Federal housing tax credits are awarded to developers of qualified projects. Developers then sell these credits to investors to raise capital (or equity) for their projects, which reduces the debt that the developer would otherwise have to borrow. Because the debt is lower, a tax credit property can in turn offer lower, more affordable rents.

Provided the property maintains compliance with the program requirements, investors receive a dollar-for-dollar credit against their Federal tax liability each year over a period of 10 years. The amount of the annual credit is based on the amount invested in the affordable housing.

Important information
Waiting Lists
Most low income apartments have waiting lists. Some of these lists can take years until you can be called for openings. The key is to try to get on as many waiting lists as possible.

Call The Apartments Directly
We provide phone numbers and websites. Call the apartments directly if they have openings or open waiting lists.

Apartment Rates
We provide current apartment rates on many listing pages. Most HUD listings do not have published rates. They are based on 30% of the renters adjustable gross income. You will need to contact the apartments to determine if you qualify for income based rent.

Apartment Rental and informational statistics for zip code

Median apartment rental rate in this zip code	$1,110
Population in zip code	15,191
Median age of those living in this zip code	34.8
Average household income of those living in this zip code	$66,285
Average home value in this zip code	$358,491