Bethany Village Apartments Inc.
Bethany Village Apartments Inc.
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About this organization
Revenue
$760,348
Expenses
$773,990
Mission
Bethany Village Apartments, Inc. (the project) was organized to construct, own and operate a 100-unit apartment community in Indianapolis, Indiana, known as Bethany Village Apartments, pursuant to Section 202 of the National Affordable Housing Act as amended. The project has executed a regulatory agreement with HUD, which governs the operation of the project with the Federal Housing Administration (FHA) section of HUD. The project has also entered into a housing assistance payment contract (HAP contract) with HUD. The HAP contract is a rent assistance program for low-income families (or persons) as provided by the Section 8 program of the National Housing Act. Eligible low-income tenants pay 30% of their income as rent while HUD pays the difference between this rental amount and contract rent (as defined). The project can request from HUD an additional amount equal to 80% of contract rent during periods that the unit is vacant if certain conditions are met, but not to exceed 60 days. I
About
Bethany Village Apartments, Inc. (the project) was organized to construct, own and operate a 100-unit apartment community in Indianapolis, Indiana, known as Bethany Village Apartments, pursuant to Section 202 of the National Affordable Housing Act as amended.