LMMI definition

LMMI is a HUD-defined term incorporating households with eligible incomes (at or below 120% of area median, based on household size and county), including low-, moderate-, and middle-income, in referring to the national objective of the CDBG program. “Low-Income Set-Aside” refers to the HERA requirement that not less than 25 percent of the funds NSP funds to the GRANTEE shall be used for the purchase and redevelopment of abandoned or foreclosed upon homes or residential properties that will provide permanent housing to individuals or families whose incomes do not exceed 50 percent of area median income.
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Examples of LMMI in a sentence

  • The Homebuyer Subsidy is limited to (a) thirty percent (30%) of the Selling Price capped for a maximum amount of $75,000 for LMMI households or (b) fifty percent (50%) of the Selling Price capped for a maximum amount of $75,000 for VLI households.

  • In order for homebuyers to be eligible to purchase 25 the rehabilitated home, (1) LMMI homebuyer annual incomes must 26 not exceed one-hundred twenty percent (120%) of the AMI, as 27 determined by HUD, adjusted for family size for the County of 28 Riverside and (2) very low income (“VLI”) homebuyer annual 1 incomes must not exceed fifty percent (50%) of the AMI, as 2 determined by HUD, adjusted for family size for the County of 3 Riverside.

  • With respect to activities expected to be assisted with NSP funds, DEVELOPER certifies that it will comply with the requirements that the CITY has developed in its Action Plan so as to give maximum feasible priority to activities which benefit LMMI income families or aid in the prevention or elimination of slums or blight.

  • The DEVELOPER agrees to comply with all requirements of the NSP Program as stated in the NSP Notice and CDBG regulations, including but not limited to the following: NSP Eligible Use, CDBG National Objective and Eligible Activities – The DEVELOPER will ensure and document that its NSP activities meet LMMI national objective, eligible use, allowable cost, and eligible activity requirements of the NSP Notices & CDBG Regulations.

  • SUBRECIPIENT shall 1 resell the Project to an LMMI household whose income is at or below one-hundred twenty 2 percent (120%) of the Area Median Income (AMI), adjusted by family size at the time of 3 occupancy, for the County of Riverside.

  • All buyers of NSP-assisted units shall be individuals and families whose incomes do not exceed 120% of area median income (referred to as “low-, moderate- and middle-income”, or LMMI), unless lower income limits are specified in Exhibit A..

  • With respect to activities expected to be assisted with NSP3 funds, Developer certifies that it will comply with the requirements that the City has developed in its Action Plan so as to give maximum feasible priority to activities which benefit LMMI income families or aid in the prevention or elimination of slums or blight.

  • The DEVELOPER will comply with the CITY’s NSP activities so as to give the maximum feasible priority to activities that will benefit LMMI families: Maximum Feasible Priority.

  • The government's primary objectives in using part of its CDBG-DR allocation for homeownership programs is to repopulate the tornado affected area, increase the number of affordable housing units in the City of Joplin, and to increase the opportunities for homeownership for low, moderate, and middle income (LMMI) families.

  • The primary objectives of the Program are to correct nonconforming uses, remedy code violations, and generally repair and improve deteriorating properties in an effort to provide decent housing and a suitable living environment for persons and families of low-, moderate, and middle-income (LMMI).