Ballston Station Housing Corp

Programs: See schedule othe primary purposes of the corporation shall be to provide safe and affordable housing to low-income and moderate-income individuals in arlington, virginia, and to provide additional social services to residents and the community. The corporation intends to develop and provide rental apartments. The corporation will meet the 40-60 test of internal revenue code 142(d)(1)(b) by having at least 40 percent of the apartments occupied by individuals whose income is 60 percent or less of the area's median gross income. In addition, the corporation will comply with restrictions imposed by the virginia housing development authority and arlington county on the rental rates for the low-income units. These restrictions will ensure that the designated units are affordable for low- and moderate-income individuals and families. The corporation intends to participate in the affordable housing investment fund, which is the main financing program of arlington county, virginia, for affordable housing development. In addition, the corporation also will offer the following social services to the low-income residents of its development and other low-income individuals in the local community: (1) a business center that provides free internet access, (2) public transportation subsidies, (3) community programs including financial management education, (4) community programs to alleviate nutrition and food insecurity through partnership with other local non-profit organizations, and (5) educational programs through partnership with an on-site non-profit pre-school.