Area Median Income definition

Area Median Income means the most recent applicable county median family income published by the California Tax Credit Allocation Committee.

Area Median Income means, for purposes of this subdivision, the area median income for the primary metropolitan statistical area, or for the county if located outside a metropolitan statistical area, as determined by the United States department of housing and urban development, or its successor, for a family of four, as adjusted for family size.

Area Median Income means area median income as periodically established by the Department of Housing and Community Development pursuant to Section 50093 of the Health and Safety Code. The developer shall provide sufficient legal commitments to ensure continued availability of units for very low or low-income households in accordance with the provisions of this subdivision for 30 years.

Examples of Area Median Income in a sentence

• Individual persons or families provided a specific direct benefit or service must qualify under current income eligibility limits (% of Area Median Income), as established by the Department of Housing and Urban Development (HUD).

• Area Median Income (AMI) Limits can be located for each county at: xxx.xxxxxxx.xxx (Data Sets, Income Limits).

• Tenants of Rental Dwellings must be Eligible Tenants who, at the time of lease execution during the Affordability Period, must have gross annual incomes at or below 90% Area Median Income (AMI) adjusted for household size as published by the U.S. Department of Housing and Urban Development (HUD) or otherwise determined by the City of Savannah Housing and Neighborhood Services Department (HNSD) with verification provided to the HNSD prior to lease execution.

• The initial purchaser of each newly constructed For Sale Dwelling must be an Eligible Purchaser who, at the time of purchase, has a gross annual income at or below 90% Area Median Income (AMI) adjusted for household size as published by the U.S. Department of Housing and Urban Development (HUD) or otherwise determined by the City of Savannah Housing and Neighborhood Services Department (HNSD) with verification provided to the HNSD prior to sale.

• The granted funds will include specific programmatic outcomes, including but not limited to, supporting at least one hundred affordable dwelling units for households and individuals earning between 30-60% of the Area Median Income, by December 2024.

More Definitions of Area Median Income

Area Median Income. (“AMI”) shall mean the median income of the county in which the Project is located, or the metropolitan statistical area of Chicago, or the metropolitan statistical area of St. Louis, adjusted for family size, as such adjusted income and median income for the area are determined from time to time by HUD for purposes of Section 8 of the United States Housing Act of 1937.

Area Median Income means the median income (as such median income is adjusted for family size and established by HUD at least annually in accordance with the Federal Act or otherwise established by the GLO) for the area where the Property is located.

Area Median Income means the median income of the county

Area Median Income or “AMI” means the median income for the Washington, DC metropolitan statistical area, adjusted for Actual Household Size, as published from time to time by HUD.

Area Median Income means the median income for the area as determined under section 8 of the United States housing act of 1937, 42 USC 1437f, adjusted for family size.

Area Median Income means the median income for the metropolitan statistical area in which a household is located or, if the household is not located within a metropolitan statistical area, for the metropolitan statistical area in closest proximity to the location of the household, as determined by the Housing and Community Services Department, adjusted for household size.

Area Median Income or "AMI" means the annual median income for Santa Clara County, adjusted for household size, as published periodically in the California Code of Regulations, Title 25, Section 6932, or its successor provision, or as established by the City of Palo Alto in the event that such median income figures are no longer published periodically in the California Code of Regulations.