Key Management Logo Management Network

Country Meadow Residences
Manhattan KS Apartments

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1300 Marlatt Ave, Manhattan, KS 66502 ♦ Tel: (785) 587-9094 ♦ Fax: (785) 587-9047

Tax Credit Qualification Guidelines

Section 42 Affordable Housing is available because of federal legislation establishing a tax code of the IRS that allows investors to build affordable housing for qualified households. The program is monitored by the Kansas Housing Resources Corporation.

Section 42 Affordable Housing is not a rental assistance program, such as Section 8. However, it is open to all households whose income falls within the program guidelines, including Section 8 voucher holders. The household income must not exceed income limits established annually by the federal government.

The combined gross household income cannot be greater than:

RILEY COUNTY INCOME LIMITS:

1 person:
2 persons:
3 persons:
4 persons:
5 persons:
6 persons:
$29,580
$33,780
$37,980
$42,180
$45,600
$48,960

In order to determine if you qualify for Section 42 Affordable Housing you will be asked to complete the Tenant Income Certification. This will provide us with your family size, student status, and your household income, such as wages, social security, child support, income from assets, checking and savings, and other sources.

Student Status – Tax Credit Communities are unable to lease to households comprised entirely of full time students, unless they meet one of the four exceptions.

To determine student status all student applicants must complete that student status verification process.

Other qualifying criteria – In order to process your application, you will be asked about:

All household income information must be accurately documented and verified in writing from the third party source in order for the owners to comply with the government regulations. The Section 42 Affordable Housing Program is regulated by the State of Kansas and the Federal Government.

Every year you must recertify your family size and household income. Normally households still qualify to participate in the program if the household income increases as there are allowances for changes in household income.

 
 
Key Management Supports Equal Housing Opportunity