Property Info

low income
  • RIVERVIEW POINTE APTS

  • 120 RIVERSIDE DR
    Battle Creek Battle Creek, MI 49015

Please contact the management company for an application and/or vacancy information.

RIVERVIEW POINTE APTS

Low Income Housing Tax Credit

(Low Income Housing Tax Credit)

Low Income Housing Tax Credit

Low Income Housing Tax Credit

HUD’s Low-Income Housing Tax Credit Program, also known as LIHTC, is a government initiative that incentivizes the private sector to develop and preserve affordable housing for low-income families

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Last Updated: March 05, 2024

Property Info

RIVERVIEW POINTE APTS

120 RIVERSIDE DR
Battle Creek, MI 49015

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Contracts associated with the property

  • Total number of active contracts associated with the property0
  • Total number of units across all the active contracts associated with the property0
  • Contract # 10
  • The maximum number of units available on the active contract # 10
  • The name of the program type for the active contract # 10
  • The fiscal year quarter in which the overall active contract expires, for active contract # 10
  • Contract # 20
  • The maximum number of units available on the active contract # 20
  • The name of the program type for the active contract # 20
  • The fiscal year quarter in which the overall active contract expires, for active contract # 20

Total Affordable Units

Numbers below do not indicate vacancies

  • 0 Bedroom Units

    0
  • 1 Bedroom Units

    10
  • 2 Bedroom Units

    70
  • 3 Bedroom Units

    20
  • 4 Bedroom Units

    0

0 Total Assisted Units

Numbers below do not indicate vacancies

  • The total number of efficiencies for active contract #1

    0
  • The total number of efficiencies for active contract #2

    0
  • The total number of units with one bedroom for active contract #1

    0
  • The total number of units with one bedroom for active contract #2

    0
  • The total number of units with two bedrooms for active contract #1

    0
  • The total number of units with two bedrooms for active contract #2

    0
  • The total number of units with three bedrooms for active contract #1

    0
  • The total number of units with three bedrooms for active contract #2

    0
  • The total number of units with four bedrooms for active contract #1

    0
  • The total number of units with four bedrooms for active contract #2

    0
  • The total number of units with five or more bedrooms for active contract #1

    0
  • The total number of units with five or more bedrooms for active contract #2

    0

Household

  • Occupied units as the % of units available0
  • Average size of household0
  • Average gross household contribution towards rent per month (includes payment toward rent and utilities).0
  • Average federal spending per unit per month (not fully comparable across programs).0
  • Average total household income per year0
  • Average household income per person per year0
  • % of housholds with income below $5,000 per year.0
  • % of housholds with income between $5,000-$9,999 per year.0
  • % of housholds with income between $10,000-$14,999 per year.0
  • % of housholds with income between $15,000-$19,999 per year.0
  • % of housholds with income $20,000 or more per year.0
  • % of households where the majority of household income is derived from a source other than wage and welfare.0
  • Household income as a percent of local area median family income, as defined by HUD0
  • % of households with income below 50% of local area median family income0
  • % of households with income below 30% of local area median family income0
  • % with two spouses and 1 or more children under 18 years.0
  • % where spouse not present and 1 or more children under 18 years.0
  • % of households headed by a female.0
  • % of households headed by a female with children.0
  • % of households below age 62 where either household head or spouse (or cohead)has a disability.0
  • % of households age 62 or older where either household head or spouse (or cohead) has a disability.0
  • % of all persons in household with a disability.0
  • % 24 or less years: household head or spouse (whoever is older).0
  • % 25 to 50 years: household head or spouse (whoever is older).0
  • % 51 to 61 years: household head or spouse (whoever is older).0
  • % age 62 and older.0
  • % age 85 and older.0
  • % Minority.0
  • % Black, non-Hispanic.0
  • % Native American, non-Hispanic.0
  • % Asian or Pacific Islander, non-Hispanic.0
  • % Hispanic (of any race).0
  • Average number of months on waiting list among admissions.0
  • Average number of months since moved in.0
  • % with valid utility allowance ($1 to $1000).0
  • Average utility allowance among households who have it (in $ per month).0
  • % of reported households with 0-1 bedroom units0
  • % of reported households with 2 bedroom units.0
  • % of reported households with 3 or more bedroom units.0
  • % overhoused0
  • Minorities as % of total population in the census tract where HUD assisted0
  • Percent of the population below poverty level0
  • % of households who are owner-occupants of single-family detached0
  • Total Number of Children0
  • % of household members age 62 or older0
  • % of all household members below age 62 with a disability0
  • % of households with income below 80% of local area median family0
  • Median of Total Annual Income for the households served0

Please contact the management company for an application and/or vacancy information.

If the resource information above is incorrect, please notify your local HUD field office.

Low Income Housing Tax Credit

The Low Income Housing tax credit program ( LIHTC ) is the most pivotal resource for creating affordable housing in the United States. The LIHTC program was created by the Tax Reform Act of 1986. The Treasury Department and State Housing Finance Agencies administer the program. Due to this Tax Credit there has been a surge in recent years of new multifamily LIHTC communities, housing many of our country’s low income families. Most Communities are located in urban areas often causing a positive revitalization of low-income neighborhoods. This provides sustainable and decent living conditions for families in need.

The LIHTC program allocates approximately $8 Billion in the annual budget to state and local LIHTC agencies so that they can issue tax credits for the acquisition, new construction, or rehabilitation of rental housing to households having less income. For the community developer/owner to obtain the tax credits they need to meet one of the following:

  • A min of 20% of units must be rented by tenants with incomes less than 50% of Area Median Income
  • A min of 40% of units must be rented by tenants with incomes less than 60% of the Area Median Income

LIHTC is the largest rental housing production program in history and significantly outnumbers the other government-funded rental units available. A benefit of LIHTC Properties is that the rent is not based on the tenants income. Tax credit units must be affordable to households. The rents do not vary according to each individual family or tenant thus, reaching a slightly higher income group (while still maintaining people who are between 50-60% of Area Median Income).

The downfall of this program is the tax credit provided a surge of new construction and redevelopment projects–which one would think would be a great thing. Unfortunately, there are some properties that have reached their required 15 year affordability restrictions and may choose to bring rents from that property to market rates. At times this is unavoidable, as the properties at this time may need high cost renovations. New LIHTC projects have been mandated to affordability restrictions for a 30 year period in addition to the legislature trying to entice owners to extend the affordability by passing more tax incentives.

The LIHTC data at the property and tenant-level is collected by the Department of Housing and Urban Development. The data collected by the HUD at the property level includes information on the size, unit mix, and location of individual projects.

Historic ( HTC ) and New Markets Tax Credits ( NMTC )

The Federal Historic Preservation Tax Credit program is familiar with the significance of the private sector investment in the rehabilitation and re-use of historic buildings and encourages the same.

The program is administered by the National Park Service and the Internal Revenue Service in partnership with the State Historic Preservation Offices. There are some states offering tax credits for historic buildings and asking the applicants to apply to Federal and State programs together.

The Community Development Financial Institutions Fund or CDFI is a program within the U.S Department of the Treasury that administers the New markets tax credit. As long as a property is within the low-income community recognized by the U.S. Department of the treasury, NMTC can finance a range of property types such as mixed-use multifamily property.

Its investors usually invest in intermediary entities such as Community development entities which later on provide funding to the project level ownership entity. There are limited occasions in which HTC and NMTC can be used in FHA-insured projects.

Income Limits

Income Limits

Dollar

Battle Creek, Calhoun County, MI Low-Income Housing Tax Credit Income Limits

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 Miami but actual income limits may differ for units at Cutler Manor.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Low Income (30%) $15,200 $17,350 $19,500 $21,650 $23,400 $25,150 $26,850 $28,600
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