14490 full.pdf - Georgia Department of Community Affairs

UTILITY RESPONSIBILITY
The following table indicates what utilities are provided by the comparable apartment
properties. A “yes” indicates that utility is included in the rent, and a “no” indicates
the utility is not included.
PROJECT WATER SEWER TRASH ELECTRIC HEAT HEAT TYPE
WOODPINE WAY YES YES YES NO NO ELECTRIC
SUNCHASE YES YES YES NO NO ELECTRIC
LOCKETT STATION YES YES YES NO NO ELECTRIC
RIVERCREST YES YES YES NO NO ELECTRIC
SOUTH ALBANY VILLAGE
(SITE)
YES YES YES NO NO ELECTRIC
CONCESSIONS
Because this Tax Credit market has so few vacancies, none of the comparable projects
are offering rent concessions at this time.
SECTION 8 VOUCHERS
It is anticipated that additional support at the project would come from tenants with
HUD Section 8 Vouchers. The current Fair Market Rents for the area as well as the
proposed gross rents are as follows:
UNIT TYPE FAIR MARKET RENTS PROPOSED GROSS RENTS
ONE-BEDROOM $371 $439
TWO-BEDROOM $453 $502-$547
THREE-BEDROOM $618 $609-$639
Note: The Fair Market Rents have been established by the Department of Housing and Urban
Development and are gross rents including all utilities.
As the above table indicates the proposed gross Tax Credit rents for most of the threebedroom
units are below the Fair Market Rents. These units will be available to
renters with HUD Section 8 Vouchers. However, the one- and two-bedroom units
have proposed gross Tax Credit rents above the Fair Market Rents, and these units will
not be available to renters with HUD Section 8 Vouchers unless management is
willing to reduce rent levels to Fair Market Rents.
As of May 2002, Dougherty County had a total of 61 existing HUD Section 8 Vouchers
issued. According to the director of the area HUD Section 8 program, the average
turnover rate for persons coming off the program (being replaced with a new
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