MFTE Program

MULTIFAMILY PROPERTY TAX EXEMPTION

Ori Residential provides rental housing to qualified residents without regard to race, color, sex, religion, handicap, familial status, or national origin.

All housing provided within the guidelines established by federal, state, and local laws regulating the multifamily housing industry.

Application Process and General Requirements:
1. A valid driver’s license or government-issued ID is required.
2. Applicants must be a legal United States Resident.
3. Monthly gross income must equal 2 times the monthly rent or a bank statement must be provided under the tenant's name proving the ability to pay for rent for at least 6 months. If more than one applicant is applying the gross income
will be combined.
4. Any person residing in the apartment must apply.
5. Each person applying must pay a non-refundable $42 application fee.
6. Further documentation may be required based on screening results.

MFTE Unit Income Requirements

In order to qualify for an MFTE unit at Ori Stone Way, household income must be below 65% of the area median income for a studio, 75% of the area median income for a 1 bedroom and below 85% for a 2 bedroom. The minimum income we require is twice the MFTE rent per month.
*Any group of individuals leasing a unit together (1 unit & 1 lease) would be a household.
1 Person
2 Persons
3 Persons
4 Persons
5 Persons
Studio
$1,472
/mo rent/yr
$58,880

65% of AMI for a 1-person household

$67,290

65% of AMI for a 2-person household

$75,700

65% of AMI for a 3-person household

$84,110

65% of AMI for a 4-person household

$90,840

65% of AMI for a 5-person household

1BR & TH
$1819
/mo rent/yr
$67,940

75% of AMI of a 1-person household

$77,640

75% of AMI of a 2-person household

$87,350

75% of AMI of a 3-person household

$97,050

75% of AMI of a 4-person household

$104,810

75% of AMI of a 5-person household

2BR
$2474
/mo rent/yr
$76,990

85% of AMI of a 1-person household

$87,990

85% of AMI of a 2-person household

$98,990

85% of AMI of a 3-person household

$109,990

85% of AMI of a 4-person household

$118,790

85% of AMI of a 5-person household