Villas by Mary T

What Villas by Mary T's governing documents say

This is a regulatory agreement for Villas by Mary T., a 132-unit affordable rental community in San Tan Valley (Casa Grande), AZ, funded by federal Low-Income Housing Tax Credits (LIHTC). The rules bind the landlord/owner, not tenants, but directly affect who can live here and what rents can be charged. It is not a typical HOA or condo rulebook; it ensures the property remains affordable for low-income households through at least 2040.

• Affordability & income limits: At least 70% of units must be rented to households earning 60% or less of the area median income (AMI). Additional set-asides require 10% of units for ≤40% AMI, 10% for ≤30% AMI, and 10% for ≤20% AMI. Income must be certified at move-in and annually renewed; if a tenant's income later exceeds 140% of the limit, the next available comparable unit must go to a qualified low-income tenant.
• Special needs & disability priority: At least 60% of units (60 units) must be occupied by physically disabled persons, as defined by design elements exceeding Fair Housing requirements. Other special-needs groups (homeless, elderly, mentally ill, etc.) are listed but have 0 units set aside.
• Lease & tenancy rules: Leases must be for a term of at least six months. Tenants can only be evicted for good cause. No eviction or rent increases beyond Section 42 limits are allowed for three years after the extended use period ends. Tenants holding Section 8 vouchers cannot be denied occupancy.
• Rental restrictions: All units must be rented to the general public on a non-transient basis. The landlord cannot discriminate based on race, color, sex, age, handicap, marital status, or national origin. Annual income certifications and utility allowance calculations are required.
• Duration of affordability: The income and occupancy restrictions run with the land until at least January 27, 2040 (the Extended Use Period). Even if the property is foreclosed, protections for existing tenants continue for three more years, preventing eviction or rent hikes beyond allowed limits.
• What this document doesn't cover: This document does not address pets, parking, architectural changes, common area use, or any typical HOA rules. It only covers affordability, income limits, tenant protections, and landlord obligations under the LIHTC program.

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.