Villas by Mary T.
Villas by Mary T. has pet-friendly one level 2 & 3 bedroom townhomes with air conditioning, dishwasher, washer & dryer hook-ups, walk-in closets, extra storage, private entrances and private attached garages. Units are handicapped accessible. Enjoy wooded and park-like views. Rent includes yard maintenance and snow & trash removal. Homes are pet friendly - cats and dogs under 50lbs are welcome.
Villas by Mary T. is located in Prescott, WI off Highway 35 on Dexter St. S near the Mississippi River close to the MN/WI border. Prescott is less than a 30 minute drive from St. Paul.
Villas by Mary T. participates in Section 42 housing (tax credit) with income restrictions.
What is Section 42?
Section 42 refers to that section of the tax code which provide tax credits to investors who build affordable housing. Investors receive a reduction I their tax liability in return for providing affordable housing to people with fixed or lower incomes.
How does Section 42 differ from other rent assistance programs, like section 8?
The residents who live in Section 42 units must be income and program eligible similar to residents who live in rental assistance developments. However, the rent that a Section 42 resident will pay is capped at a fixed amount and includes utilities that are the residentís responsibility. In rental assistance programs such as Section 8, the residentís rent is based on 30% of his/her income and the remaining adjusted portion is subsidized by the government. The Section 42 Program is not a subsidized rental program.
How do I determine if I am eligible for a Section 42 tax credit unit?
You will be asked to complete forms which will request information regarding your income, family size and financial assets. These factors will determine your eligibility for this program.
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