IDA Savings Account...Too Good to be True!

OK, our Building Newsletter had an article for an IDA savings account; matching savers deposits $3 for every $1 saved.  WOW, sounds too good to be true?  Yes, the devil's in the details.  Seems the account is only for people who are buying a home (not mentioned in the article).  There is a $4000 maximum account...and, you have to have a minimum income of $38,000.  HUH?  WTH?  No where in Portland, Oregon can you even begin to buy even a studio condo on that income.  Average home or condo is at least $300,000.  Our building is all 55 age & older, as are most of the Landlords buildings; 99% are retired and on Social Security.  In fact the maximum income you can have, and live here is $2200/mo!  Don't you hate it when organizations try to blow smoke up your ass?  I do.