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.