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Q. Are the facilities taxable by the communities? <br /> <br />A. Yes - at full real estate property tax rates. <br /> <br />Q. Who are eligible to occupy the Rent Supplement housing? <br /> <br />A. Persons over 62 years of age, the physically handicapped, persons displaced by <br /> government action, persons presently living in substandard housing. <br /> <br />Q. How is the rent amount determined? <br /> <br />A. The economic rent for a given locality is established by the Federal Housing <br /> Administration. The tenant pays rent according to his or her ability to pay (the <br /> amobnt must be at least 30% of the established economic rent or 25% of the <br /> tenant's income). <br /> <br />Q. How is the site for the housing development determined? <br /> <br />A. It is selected by the local developer and approved by the Federal Housing <br /> Administration. <br /> <br />Q. Who owns the facilities? <br /> <br />A. The facilities may be locally owned, if desireble. <br /> <br />Q. What services are provided under the Rent Supplement Program? <br /> <br />A. Lights, heat, hot water, snow removal, lawn care and building maintenance. <br /> <br />For Credit Information about INVESTORS REAL ESTATE FUND, INC., please contact: <br /> <br />FIRST WISCONSIN NATIONAL BANK <br />131 So. Barstow Street <br /> Eau Claire, Wisconsin 54701 <br /> Telephone (715) 835-3111 <br /> <br /> <br />