Extremely Low Income definition

Extremely Low Income means a household income that falls at or below thirty percent (30%) of the AMI for the area in which a Project is located.

Extremely Low Income means a household earning less than 30 percent of area median income pursuant to Health and Safety Code, section 50105.

Extremely Low Income means a household income that falls between fifteen percent (15%) and thirty percent (30%) of the AMI for the area in which a Project is located.

Examples of Extremely Low Income in a sentence

• As an inducement to serve Extremely Low-Income households, OH may agree to terms in loan documents, for projects in which 50% or more of the units serve these households, by which, if the loan term is extended for 25 years and the borrower and the property remain in compliancewith OH loan documents, the debt will be deemed satisfied at the end of that extension period or ratably over the extension period.

• Housing Authority voucher subsidy and OMS subsidy may be combined for the same project to increase the number of Extremely Low-Income units or to support PSH if additional operating subsidy is necessary to cover enhanced propertymanagement and services costs and no other fund source is available.

• I (We) understand that housing units occupied by eligible tenants participating in the program must be affordable to Extremely Low-Income persons.

• The policy supports City efforts to affirmatively further fair housing for Extremely Low-Income people who have disabilities and other significant barriers to housing.

• The Director may allow for up to100% of Eligible TDC to be financed with City funds for a project serving Extremely Low-Income households or a project at risk of foreclosure.

More Definitions of Extremely Low Income

Extremely Low Income means individuals or families whose annual incomes do not exceed 30 percent of the median income for the area, as determined by HUD.

Extremely Low Income means Income not exceeding 30% of Median income.

Extremely Low Income means an annual household income that is 30% or less of area median income based on HUD determined guidelines adjusted for family size.

Extremely Low Income means annual income which does not exceed thirty percent of the median income for the area, as determined by HUD, with adjustments for smaller and larger families, except that HUD may establish income ceilings higher or lower than thirty percent of the median income for the area if HUD finds that such variations are necessary because of unusually high or low family incomes. HUD’s income exclusions, as defined under 24 CFR§ 5.609, apply in determining income eligibility at the time of admission and in calculating the Eligible Tenant’s income during the interim/annual recertification stages.

Extremely Low Income means having a household income equal to 30% or less of the area median income.

Extremely Low Income means household income which is below thirty percent (30%) of the Grand County Area Median Income.

Extremely Low Income means household income which is below thirty percent (30%) than Grand County Area Median Income as defined by HUD.