488 Castle Creek
60% AMI or less for all units

Qualification Process:
This project is a low-income housing tax credit property (LIHTC) and requires looking at future income over the next 12 months. In addition, APCHA will be looking at the income from 2019 tax returns and other qualification requirements. Royal America will need additional documentation based on the requirements for LIHTC properties.  If you are chosen, you will be provided with a specific qualification packet for this type of project in addition to APCHA’s application requirements. PLEASE KEEP IN MIND THAT JUST BECAUSE YOU QUALIFY FROM AN APCHA STANDPOINT DOESN'T MEAN YOU WILL QUALIFY THROUGH THE TAX CREDIT STANDPOINT. One of the one-bedroom units has an ADA designation and the top priority will be for a qualified household that has a mobility disability. 

Application / Lottery Process:

• Begin pre-application process on December 7, 2020 (a specific form with no fee)
• Pre-application process ends at 4:00 p.m. on December 14
• Posting of applicants on website by 5:00 p.m. on December 15
• Lottery will be held on Zoom at noon on December 17

Number Picked:

• 15 for the one-bedroom Category 1
• 10 for the one-bedroom Category 2
• 10 for the two-bedroom Category 1
• 10 for the two-bedroom Category 2

 Total of 24 Units:

• 14 one-bedroom, 1-bath – 9 will be Category 1 and 5 will be Category 2
• 10 two-bedroom, 2-bath – 3 will be Category 1 and 7 will be Category 2

 Maximum Households:

• Two people max in the one-bedroom units
• Four people max in the two-bedroom units

 Maximum Incomes made in 2019 and potential income over the next 12 months:

                                                     60% AMI (future                     Category 1                                  Category 2
# of People                                     gross income)                  (2019 tax returns)                      (2019 tax returns)              
One-person household                     $46,440                     $15,000 - $38,700                       $38,701 - $46,440
Two-person household                     $53,040                     $30,000 - $44,200                       $44,201 - $53,040
Three-person household                  $59,700                     $30,000 - $49,750                       $49,751 - $59,700
Four-person household                    $66,300                     $30,000 - $55,250                       $55,251 - $66,300

 Other Amenities:

• Washer/Dryer in each unit
• Pets allowed (1 pet per unit)
• On bus route
• Each tenant pays their own utilities – electric and water 
• WiFi and cable are separate 
• Trash and sewer will be paid by owner

PLEASE ONLY COMPLETE THE PRE-APPLICATION ON THE WEBISTE. TO FIND THE PRE-APPLICATION CLICK HERE. ONCE COMPLETED PLEASE SEND TO APCHA@CITYOFASPEN.COM