Documentation of Income. To be eligible for services paid for by RWHAP Part A, MAI, Part B and State Services, including State R, an applicant must submit proof of income and FPL. Subrecipient must use the DSHS- provided Income Calculation Worksheet to calculate an applicant’s income found online at xxxx://xxx.xxxx.xxxxx.xxx/hivstd/magi.shtm. Consult the DSHS policy for detailed instructions.
Documentation of Income. Tenant shall demonstrate ability to pay rent, with the exception of eligible RAD PBV and Cabrini/RRC applicants. The development of Parkside 4 Phase 2 was financed in part through various federal and state housing programs. These include, during any applicable tax credit compliance period, federal low income housing tax credits under Section 42 of the Internal Revenue Code, donation tax credits issued by the Illinois Housing Development Authority, tax- exempt bonds issued by the City of Chicago, a loan from the City of Chicago, a TIF grant from the City of Chicago, a loan from Chicago Housing Authority (CHA) and assistance from the CHA. As a result of the requirements imposed by the various funding sources and programs, household income cannot exceed 50% of the Area Median Income (AMI) for 70 of the units, household income cannot exceed 60% of AMI for 23 of the units, household income cannot exceed 80% of AMI for 5 of the units. However, HUD assisted households in Parkside 4 Phase 2 will not have their lease terminated for failure to meet household income requirements and student eligibility rules. No cosigners will be accepted, however, there can be more than one head of household, co-leaseholder or leaseholder for a unit. All applicant households must submit documentation regarding the income and assets of all household members to meet tax-credit requirements. The documents include but are not limited to the following: pay stubs, bank statements, SSI award letters, and court- ordered child support agreements. All income must be documented with information that is less than 90 days old. Applications showing only cash income and no tax returns nor pay stubs will not be approved.
Documentation of Income. To be completed if (1) the Borrower and/or Cosigner did not file a federal income tax return for the most recently completed tax year or (2) the Borrower’s and/or Cosigner’s AGI from their most recently filed federal tax return does not reflect his or her current income (due to circumstances such as the loss or change of employment). Does the Borrower and/or Cosigner have taxable income? Check “No” if you (1) do not have any income, (2) receive only untaxed income (such as Supplemental Security income, child support, or federal or state public assistance), or (3) are not required to file a federal income tax return based on the amount of your taxable income. Yes --- Provide documentation of income as described below. No --- By signing this form you are certifying that you have no taxable income, receive only untaxed income, or are not required to file a federal income tax return based on the amount of your income. If the Borrower and/or Cosigner is/are married and file a joint return with their spouse, does the spouse have taxable income? Check “No” if the spouse (1) does not have any income, (2) receives only untaxed income (such as Supplemental Security income, child support, or federal or state public assistance), or (3) is not required to file a federal income tax return based on the amount of the spouse’s taxable income. Yes --- Provide documentation of the spouse’s income, as described below. No --- By signing this form you are certifying that your spouse has no taxable income, receive only untaxed income, or is not required to file a federal income tax return based on the amount of your spouse’s taxable income.
Documentation of Income. The Borrower and Cosigner must provide one piece of documentation for each source of current income that they and their spouse receive (including pay stubs, W-2’s, interest or bank statements, and/or dividend statements). Unless the frequency is clearly indicated on the documentation you provide, please write on your documentation how often you receive the income, for example, "twice per month".
