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In conjunction with the Low Income Housing Tax Credit program (LIHTC), Corcoran House is pleased to be able to offer affordable rent options to those who qualify. Residents who qualify for this opportunity pay a reduced monthly rental rate while still being able to benefit from our service and meal plans*. This program is not a subsidized housing program. Each resident is responsible for their full amount of rent each month. The rental amount is not based on individual household income, but rather the pre-set income limits for the specific region in Massachusetts.
This program is an indirect Federal subsidy used to finance the development of affordable rental housing for low to moderate-income households, created by Congress in 1986 as part of the Tax Reform Act and is administered by the Internal Revenue Service (IRS). Rents are determined by The Department of Housing & Urban Development on the basis of a percentage of the area’s median income.
To be eligible, the Total Gross Household Income (including income from your assets) must be less than or equal to the pre-set income limit for your area.
Brochure on The Affordable Tax Credit Program: http://www.hallkeen.com/brochures/CorcoranTaxCreditBrochureTrifold8.5x11_2020.pdf
Please contact us for availability and eligibility requirements.
* Our service packages and meal plans are optional under this program.