Tam Ridge Residences

General Property Information

• Opened for first Move ins 7/15/17, 5% occupied
• 180 Total Units, 18 BMRS Units
• 199 Tamal Vista Blvd, Corte Madera CA 95925

General Below Market Rate (BMR) Information

• Rent Limits
  
  • Very Low Rent (4, 1 bedroom units) $1187
  • Low Rent (12, 1 bedroom units) $1928
  • Moderate Rent (2, 2 bedroom units) $3490
• Income Limits
  
  • Very Low Income 50% AMI ranging from $43,050 for a one person to $55,350 for three person household
  • Low Income 80% ranging from $73,750 for a one person to $$94,850 for a three person household
  • Moderate Income 120% AMI ranging from $110,640 for a one person to $170,640 for a five person household

General Lottery Procedures

• All physical tickets were pulled on August 3, 2017 at random
• The lottery results and next steps are posted below
• We will contact the first 30 applicants to begin processing files
• We will go in order and unit preference is based on ranking order
• Once units are filled, the list will then be used as waiting list for any open units in the future

Lottery Results and Next Steps

View Lottery Results  |  Download Lottery Results (.xls)

Now that the lottery results are in, the lottery applications will be processed in rank order starting with rank 1 – 30. A post lottery letter will be sent out to the applicants that are being processed and given one week (five business days) from the date on the letter to return the needed paperwork to the property – see below. An appointment will then be setup to review the paperwork and gather all other needed documentation. Please note that this process generally takes between two and six weeks to be completed and all files are reviewed and approved/denied by an internal compliance department to ensure full compliance with the affordable housing requirements of the project. If additional paperwork is needed from the applicant, they will be given two business days from the request date to provide the documentation to the property. Once the file is complete, either an approval or denial letter will be sent to the provided address. The lottery list will be worked in rank order until all units have been filled. The remaining applicants will be transferred in current order to the waiting list for future vacancies. Both the lottery and waiting list are closed until the waiting list has been exhausted.

Required Documentation

• Income verification
  
  • All gross potential income must be reported and documented
  • Employment / Earned Income
  • Other income: Social Security, Workers Compensation, gift income, etc.
• Asset verification
  
  • Checking accounts
  • Savings accounts
  • Retirement accounts, etc.
• Income Taxes
  
  • 2016 federal income taxes
  • W-2s and all Schedules, if applicable

Contact Information

• Any additional questions can be directed to Hannah Rice at hrice@greystar.com