Florence Apartments

What Florence Apartments's governing documents say

Florence Apartments is a 50-unit affordable rental community in Florence, AZ. This deed restriction binds the owner/landlord, requiring that all units be rented to low- or moderate-income households and cannot be converted to homeownership. The restriction runs with the land until April 1, 2057.

• Affordability & income limits: Only households whose income at initial occupancy does not exceed 115% of the area median income (as determined by USDA) may lease a unit. Tenants already occupying cannot be forced to vacate or be denied occupancy solely based on more stringent restrictions from other programs.
• Term of restrictions: The affordability and rental-only use restrictions apply until April 1, 2057, unless the property is foreclosed, transferred via deed in lieu, or USDA waives the restriction after finding no further need for low-income housing in the market area.
• What this document doesn't cover: This is a deed restriction only — it does not contain pet policies, parking rules, lease terms, maintenance responsibilities, or other typical community rules. Those would be in the lease or other governing documents.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.