AMGI definition

AMGI means Area Median Gross Income. The measure of household income, adjusted for family size, used by the IRS as a reference in establishing income levels for the LIHTC Program (e.g., “60 percent of AMGI,” “50 percent of AMGI”) and as the base in calculations that yield maximum rents by number of bedrooms. See the “Imputed Incomes/Allowable Rents” tables appended to this QAP at Exhibit H.
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AMGI is defined in the recitals of this Agreement.
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AMGI means the measure of household income, published by HUD, adjusted for family size (i.e. “sixty percent (60%) of AMGI”, “fifty percent (50%) of AMGI”) and as the base in
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Examples of AMGI in a sentence

  • Qualified Census Tract (QCT): Low-Income Housing Tax Credit Qualified Census Tracts must have 50 percent of households with incomes below 60 percent of the Area Median Gross Income (AMGI) or have a poverty rate of 25 percent or more.

  • Any Low‐Income Residential Rental Unit occupied by a individual or family who is at a stated AMGI level at the commencement of occupancy shall continue to be treated as if occupied by a qualifying low‐income tenant so long as the qualifying tenantʹs income does not increase above 140% of the current year applicable income limit.

  • Once the percentage of Low‐Income Units in the project (excluding the over‐income units) equals the percentage of Low‐Income Units set‐aside for the stated AMGI level, failure to maintain the over‐income units as low‐income units has no significance.

  • For each qualifying tenant whose income subsequently exceeds 140% of the current year applicable income limit, such qualifying tenant’s Low‐Income Residential Rental Unit will continue to be treated as if occupied by a tenant with income at the stated AMGI level so long as during the period of noncompliance each available Low‐Income Unit of a comparable or smaller size is rented to a tenant who is at the stated AMGI level.

  • The determination of whether an individual or family is a 60% AMGI low- income tenant shall be made at least annually on the basis of the current certified income of such 60% AMGI low-income tenant(s) and the current year applicable income limit.

  • Special rules apply when a household’s income increases above 140% of the current applicable income limit: If, upon recertification, the income of the occupants in a qualified LIHTC unit has increased above 140% of the current AMGI, the unit may continue to be counted as a LIHTC unit only if the next-available unit of comparable or smaller size in the same building is rented to a low-income household.

  • There has been no material adverse change in the condition, financial or otherwise, or operations of AMHC, AMGI and its Subsidiaries, taken as a whole, or Kenan and its Subsidiaries, taken as a whole, any subsidiary since December 31, 2000, nor has there otherwise occurred a Material Adverse Effect, except as disclosed on Schedule 4.2.

  • For each qualifying tenant whose income subsequently exceeds 140% of the current year applicable income limit, such qualifying tenant's State Preference Residential Rental Unit will continue to be treated as if occupied by a 30% AMGI low-income tenant so long during the period of noncompliance each available State Preference Residential Rental Unit of a comparable or smaller size is rented to a tenant who is a 30% AMGI low-income tenant.

  • Any Low-Income Residential Rental Unit occupied by an individual or family who is a 50% AMGI low-income tenant at the commencement of occupancy shall continue to be treated as if occupied by a 50% AMGI low-income tenant so long as the qualifying tenant's income does not increase above 140% of the initial applicable income limit.

  • Any Low- Income Residential Rental Unit occupied by an individual or family who is a 60% AMGI low-income tenant at the commencement of occupancy shall continue to be treated as if occupied by a 60% AMGI low-income tenant so long as the qualifying tenant's income does not increase above 140% of the initial applicable income limit.


More Definitions of AMGI

AMGI means Area Median Gross Income. The measure of household income, adjusted for family size,
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Related to AMGI

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  • Catalyst means a substance whose presence enhances the reaction between chemical compounds.

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  • DPI means the North Carolina Department of Public Instruction.

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