Low income apartments

How to find low income apartments online

What people refer to as low income apartments are really a situation where the apartment is subsidized or cheap enough to afford.

The Housing Trust Fund Program was established under Article XVIII of the Private Housing Finance Law (PHFL) to help meet the critical need for decent, low income housing application opportunities for people of low income. HTF provides funding to eligible applicants to construct low-income housing, to rehabilitate vacant, distressed or underutilized residential property (or portions of a property), or to convert vacant or underutilized non-residential property to residential use for occupancy by low-income homesteaders, tenants, tenant-cooperators or condominium owners.

Since 1985, HTF has received annual appropriations between $25 and $39 million; a nominal amount of each appropriation can be used for administration of the program.
Eligible Applicants

Applicants must be not-for-profit corporations or charitable organizations or their wholly-owned subsidiaries; housing development fund companies (pursuant to Article 11 of the PHFL); municipalities; counties (counties with their own department of assessment may be direct recipients; other counties are eligible only as local program administrators); section 8 housing authorities (for properties owned after July 1, 1986 only); private developers who make equity investments in a project and who limit their profits or rate of return to investors; or partnerships in which the non-profit partner has at least a 50 percent controlling interest. Low income persons may not be direct recipients of payments, grants or loans from the Corporation, but may receive such funds from another eligible applicant. Other than municipalities, counties and private developers, eligible applicants must have been in existence for at least one year prior to application and have, as one of their primary purposes, the improvement or provision of a section 8 housing application for low income persons.

Read more: Hiram Lewis | Section 8 Housing | Apply for Section 8 | Section 8 Application | HUD Application