Asbury Park Housing Authority
Low Income Housing Tax Credit Program
- The Low-Income Housing Tax Credit (LIHTC) program helps create affordable apartment communities with lower than market rate rents by offering tax incentives to the property owners.
- It does not offer tax credits to the tenant renting the unit.
- LIHTC properties may contain market rate units that are not financially assisted, in addition to reduced rent LIHTC units under a tiered rent structure.
- A tiered rent structure means that the same unit may have different rent amounts for tenants with different incomes.
- Private management companies and individual owners manage these low-income housing apartment communities. LIHTC units may also have a rental subsidy program attached to them, such as the Project-Based Section 8 program.
|Complex Name & Location
Boston Way Village
1100 Boston Way
- Family Site 103 Units
- Low Income Housing Tax Credit (LIHTC) Site
- On Site Amenities: Parking, End-Unit Laundry, Community Room, Playground