Carver County Community Development Agency (CDA) - Lake Grace Apartments and Townhomes

Description

Privately owned building whose management contracts with either the U.S. Department of Housing and Urban Development (HUD) or the Minnesota Housing Finance Agency to offer reduced rents to eligible tenants Private subsidized housing is sometimes referred to as "Project Based Section 8 Housing." Property owner/manager must follow HUD regulations. The government gives funds directly to the apartment owners, who lower the rents they charge tenants with low-income. This type of affordable housing may have additional eligibility requirements. The rental amount paid by the resident is determined based on the resident's income. HUD requires rental housing to provide Equal Housing Opportunity.

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