Learn about the LIHTC and IZ Programs
Welcome to Trio at Stanton Square, where we provide affordable housing options through the Low-Income Housing Tax Credit (LIHTC) program and participate in the District of Columbia’s Inclusionary Zoning (IZ) program. Our community offers quality living for individuals and families who meet specific income guidelines, making comfortable and affordable housing a reality.
What is the LIHTC Program?
The Low-Income Housing Tax Credit (LIHTC) is a federal program designed to encourage the development of affordable rental housing. It provides tax incentives to property owners who develop, rehabilitate, or preserve affordable housing for low-income households. This means that qualified residents can benefit from reduced rental rates, based on their income and household size.
What is the Inclusionary Zoning (IZ) Program?
The Inclusionary Zoning (IZ) program in Washington, DC requires certain new residential developments to set aside a percentage of units as affordable housing. These units are reserved for households that meet specific income guidelines, ensuring that diverse communities have access to affordable living options in desirable neighborhoods.
Who Qualifies for Affordable Housing?
To qualify for our affordable housing options, residents must meet specific income guidelines determined by household size and annual income. These guidelines are based on the Area Median Income (AMI), and applicants must fall below a certain percentage of the AMI to be eligible. The program is designed to ensure housing remains affordable for individuals and families with lower incomes.
How do I Qualify?
To qualify, you must:
• Meet income eligibility requirements
• Provide proof of household size
• Submit a completed rental application
• Provide additional required documentation for verification
Please note that our apartments are reserved for residents who qualify under the income limits established by the LIHTC and IZ programs.
