SENDERO VERDE PHASE II, only (calculated, vs, office)
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~What do you mean if the household is a donut hole or has too much income? Can you still apply even though you may be above or below the income threshold?
Absolutely anyone in the world can apply, doesn't mean they will get an apartment.
You have to fall within the income bracket for an AMI at which the building has available units. If you are just outside one of the brackets, it is worth applying because 1) the agencies calculate your income from all sources using a specific method, which may be different than how you calculate it and you may, in fact, qualify and 2) the AMI maximums are adjusted each year (in the spring) so by the time they get to processing your application, you may qualify when you barely didn't at the time you applied.
Location: Read the Marketing Handbook, and Income a Guide.
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Quote:
Originally Posted by linamonroll
Absolutely anyone in the world can apply, doesn't mean they will get an apartment.
You have to fall within the income bracket for an AMI at which the building has available units. If you are just outside one of the brackets, it is worth applying because 1) the agencies calculate your income from all sources using a specific method, which may be different than how you calculate it and you may, in fact, qualify and 2) the AMI maximums are adjusted each year (in the spring) so by the time they get to processing your application, you may qualify when you barely didn't at the time you applied.
Yes, I agree. To prevail in these lotteries you can increase your chances by entering more lotteries. But that doesn’t mean you will prevail. Everyone who enters is a long shot. Everyone who does not enter is no shot.
The idea is that decisions are not being made today about what income qualifies. But they have to publish income brackets as if decisions are being made today. It is possible that the limits will not change if process goes quickly but that is not certain. Let’s say decisions end up being made one year from today. If that is true, it’s what your household income is in a year that would qualify or disqualify you. A lot can happen in a year. It is nearly certain that the maximum income in each AMI% will increase. So don’t refrain from entering today because your household income is a bit over/under the limit.
You have to be in the lottery to get a unit so don’t exclude yourself if you just outside of income limits because things change and the decision is not being made today.
Here is a happy hypothetical. A two person household enters a lottery today. The household income is too much by some amount today. The lottery closes Jan 2. On Jan 3 the employer of one half of the household offers early retirement. This means that person gets 60% of salary for X number years. So this household takes the early retirement deal, with the 40% loss of income by half of household they now qualify for the income bracket.
Here is another hypothetical. Two person households makes too much money to qualify today but they enter anyway. They get pregnant and become a three person household which qualifies them on income as a larger family. In the meantime no lottery units were leased so because they entered they have a chance to get a unit as a qualifying household income based on three not two people. (Children effect the income qualification or a household no matter if the child earns nothing.)
Neither example means these households will prevail to get a unit but these hypotheticals do illustrate how a household that does not qualify today might meet the qualification in the future when the units are leased.
Self employed people can see incomes rise and fall from year to year.
I see that they pushed back the deadline to apply from Feb to March for this building. Im curious as to why though. I hoping it's nothing to do the CB percentage change, but the lottery page still has 50% CB so Im assuming its not the case.
Location: Read the Marketing Handbook, and Income a Guide.
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Quote:
Originally Posted by apanford
I see that they pushed back the deadline to apply from Feb to March for this building. Im curious as to why though. I hoping it's nothing to do the CB percentage change, but the lottery page still has 50% CB so Im assuming its not the case.
Im curious as to why though.
Me too, but we may never know. I don’t see an enforceable duty to inform here, but it would be nice know anyway.
I hoping it's nothing to do the CB percentage change, but the lottery page still has 50% CB so Im assuming its not the case.
I also don’t assume it’s the case because this building’s lottery has long been a work in progress. Making such a CB change after the race has started would likely breach some rule. What could change is the income max within the AMI%s as they do each spring typically; No doubt, there is statement saying ‘subject to change without notice’
I see that they pushed back the deadline to apply from Feb to March for this building. Im curious as to why though. I hoping it's nothing to do the CB percentage change, but the lottery page still has 50% CB so Im assuming it’s not the case.
Am thinking it’s either they didn’t get the amount of applications per ratio or the building isn’t quite finished
What makes you think the log#s will be out soon after? Please share. Did they come out quickly for phase I? I don’t recall one way or the other. It’s great if we see log#s soon but sometimes it can take months.
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