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 Have you experienced the shock of your electric bill this winter, or the sharp rise in living expenses over the past year or two? Coupled with a fixed income pension and other surprise expenses that arise, the idea of moving into a retirement community can seem daunting. Even more so, with the downtrodden real estate market, the idea of moving seems like an impossibility.
Moderate Income benefits provide an attractive alternative for seniors moving into participating Retirement and Assisted Living Communities.The Washington State Housing and Finance Commission has provided those owners who set aside a certain number of moderate income apartments in each of their buildings a special bond.The bond may last up to 30 years after it has been issued, and provides affordable senior housing options in Washington State.
In order to qualify, fixed income participants provide information pertaining to family income and assets, and apply for a discount. In a community that has set aside 30% of their apartments for moderate income, such as GenCare's Village at Granite Falls, an applicant would qualify who earns no more than $27,250 per year, or $31,150 per year for a married couple. Once qualified, seniors can receive significant rental discounts, depending on the size of the available unit.
.jpg) Alice first heard about the program from a friend. At 73 years old she had $20,000 saved in the bank, with a fixed monthly income, and was not sure she could afford to make a move. She fell in love with the lifestyle and apartments offered at the Village at Granite Falls, one of the communities offering a moderate-income discount. After Danielle McIntyre, Executive Director of the community, helped her fill out the application, she was delighted to find out that she qualified for a $700 a month discount on her rent. Now, Alice feels secure in planning ahead for her long-term care,well into the future.
People interested in the moderate-income discount must pre-qualify through an application process at the participating community. By filling out the following checklist, you can have a fairly good idea of whether or not you would qualify beforehand. If you think you or a loved one might benefit from the program, call today without any obligations. For more information, contact one of our three properties:
Village in Granite Falls 360-691-1777 Ballard Landmark 206-782-4000 The Lodge @ Eagle Ridge 425-793-8080
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