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

  • This is a Low Income Housing Tax Credit community and will have rent and income restrictions based on the Area Median Income.

  • Appendix A provides a more detailed list of housing in Bellevue that is affordable through public subsidy or other programs going back to 1992.Table 1New Affordable Housing Built in Bellevue, 1993-2012 Low Income (<50% Area Median Income)Moderate Income (50% - 80% Area Median Income) Note: Incentives include approved permits for accessory dwelling units, density bonuses, etc.

  • The market-affordability of the City’s housing stock for each income group is discussed below: Extremely Low Income Households: Extremely low income households are those making up to 30 percent of the Area Median Income (AMI).

  • Notwithstanding any provisions of this Plan to the contrary, in the event of any conflict between the Plan and the LIHTC Requirements or the Federal Tax Exempt Bond Financing Program (“Bond Requirements”), the LIHTC and/or Bond Requirements shall govern.Income Restrictions: The RAD PBV units and LIHTC units will be restricted to households with incomes no more than either 50% or 60% of current Area Median Income (AMI) and will be subject to the LIHTC and Bond Requirements.

  • HUD sets income eligibility based on whether an individual or family is below 80% of the Area Median Income.


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 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 means the median income of the county
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.