Barkley Ridge participates in the LIHTC (Low Income Housing Tax Credit) program that allows us to provide quality living at affordable rates to those that qualify. This program is for people and families whose household income falls within certain ranges based on 60 percent of the national median.
2008 Maximum Household income for all Tax Credit and Bond Financed Properties
(Required to Qualify Residents)
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| $34,200 | $39,060 | $43,980 | $48,840 | $52,740 | $56,640 | $60,540 | $64,440 |
Income Qualification
- Identification: Identification for all persons residing in the household will be required. This includes birth certificates and proof of physical custody for any persons under the age of 18.
- Income: All sources of income must be disclosed. This includes full and part-time employment, child support, alimony, social security, pensions, retirements, savings interest, dividends, etc.
- Employment: A verification form must be completed by the employer and returned to the community.
- Self-Employment: Tax returns (including Schedule C) for a minimum of the past two years are required. Additional information may be required such as business statements/projection schedules verified and signed by an independent source. Generally, if the net business income for the past two years has shown an increase, the same percentage of increase will be assumed for the upcoming year.
- Other Income: Documentation of all income received from child support, alimony, investments, pensions, savings accounts, etc., must be submitted with application. Anticipated income for all unemployed applicants must also be included.
- Student Status: The household may not be occupied in itself entirety by students, regardless of whether the applicants are working full-time. Please ask a leasing consultant for details to the exceptions to this rule.
- Credit History: All applicants will have a credit report run. Standard deposits or denials are based on credit. Bankruptcies must be discharged and proof of discharged with a list of included debts must be submitted with application.
- Application Process: Please complete the application, providing all the information described above and submit it to the rental office along with a deposit of at least $100.00 (applied to your security deposit, see application for refund policy) plus application fee(s). NO CASH will be accepted.
