Posted by Mary Bruce on July 22, 1998 at 08:11:10:
In Reply to: Re: having to move due to apt. changing to tax credit in VA. posted by David Hoffman on July 21, 1998 at 16:24:05:
: Please explain "...changing to tax credit...".
According to the Commonwealth of Virginia tax credit is a step before section 8 housing. The Apartment complex receives assistance from the State by allowing tax credit people into the complex. The complex receives a percentage of the rent amount and renevations to the complex are funded by a state loan at a reduced rate. A two person family cannot make more than approximately $26,400/year in order to qualify to reside in the apartment in the Richmond, VA area.
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