Income Qualified Discount Program
Program Details – Yr 2017
The Point at Rockridge Assisted Living Community offers a limited number of apartments at a discounted monthly rent to those residents meeting income qualifying guidelines. These guidelines are established by the Department of Housing and Urban Development (HUD). Residents whose annual income does not exceed the Area Median Gross Income level of $34,150 for an individual or $39,400 for couples should inquire about the discounted program.
To apply for the Income Qualified Discount Program, applicants would complete a Tenant Income Certification Questionnaire (TICQ) and set up an appointment with the Business Office Director to start the pre-qualification process. Initial Certifications remain in effect for 1 year with an annual Recertification conducted following the same process as the Initial Certification, however HUD allows 140% of income to re-qualify for the program.
Income is calculated in two parts. The first part is the fixed gross income received from Social Security, pension, retirement, annuity, and family. The second part is the income derived from financial assets, such as dividends, interest, rental income, etc. Generally assets are calculated at approximately 2% of the total value of the assets and then are compared to the value of income actually derived. Whichever figure is greater is added to the fixed income to determine the total annual income.
Those residents who meet the program qualifications would be eligible for the following Base Rent pricing options and would include the apartment, apartment maintenance, utilities (water, garbage, gas & electricity), invitation to participate in any Community activities (activities with a charge would be the resident’s responsibility) use of the Community common space (ie resident laundry rooms, the Library, Private Dining Room and Theater), daily observation with the security of having 24 hour staffing available:
Monthly Base Studio Rent – $2,745.00
Also included in the Income Qualified Discount Program are the other Services and Amenities which include 3 meals a day, daily transportation and weekly housekeeping. Laundry services are also available for an additional fee.
Additionally, all residents living in licensed Assisted Living Communities must also have a current Physician’s Report on file as well as a corresponding Assessment and Personal Care Service Plan conducted by Community staff. If a resident does not need any Personal Care Services, no fees will be charged. If a resident does need any personal care services, the Community will charge the resident the cost of the associated Personal Care Service fees. If the resident is unable to afford the Personal Care Services, the Community will assist the resident in locating a more affordable environment to reside.