Private Activity Bond Allocation

Case Study

Preservation of existing rental housing that has rental assistance contracts with HUD or USDA is vital in order to maintain affordable housing for some of the state’s most vulnerable households. The tax-exempt bond program with the 4% floating credits helps accomplish this purpose. Hillcrest Manor Apartments in Leavenworth is a recent preservation development that rehabilitated 95 senior housing units. The project preserved 89 one bedroom and five two bedroom apartments. This redevelopment ensures that the senior tenants will continue to receive well-maintained, affordable housing at a time when housing options for this population are limited.

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Hillcrest Manor Apartments, Leavenworth Kansas

Program Description

Private Activity Bonds provide low interest, long term financing options for developers and businesses. The reduced cost financing allows developers to offer lower rental rates to serve low-income households.

Audience Served

For-profit and nonprofit developers can apply.

Funding Source

Federal funding allocated through the state’s Private Activity Bond Authority

Staff Contact

Fred Bentley
fbentley@kshousingcorp.org
Director of Housing Development
785-217-2029

How To Apply

The program has an open funding cycle beginning January 1 of each year. Applicants must provide a bond inducement resolution and an application for the PAB allocation. Access the application here.

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Income Guidelines

Household SizeMaximum Income for Weatherization (200% of FPL)
1 $  24,980
2 $  33,820
3 $  42,660
4 $  51,500
5 $  60,340
6 $  69,180
7 $  78,020
8 $  86,860
9 $  95,700
10 $104,540
11 $113,380
12 $122,220
13 $131,060
14 $139,900
15 $148,740
16 $157,580
17 $166,420
18 $175,260
19 $184,100
20 $192,940
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