Low-income definition

Low-income means the adjusted income for a Family which does not exceed 80 percent of the area median income.

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Low-income means income equal to or less than 51 percent of the area median (adjusted by household size). “Moderate income” means income equal to or less than 80 percent of the area median (adjusted by household size). Applicable income limits are determined by HUD on an annual basis for all Oregon counties and metropolitan statistical areas.

Low-income means income that does not exceed eighty percent of the median income for the standard metropolitan statistical area in which the private market rental unit is located; and

Examples of Low-income in a sentence

The gross monthly cost for Very Low Income is the product of 30 percent times 50 percent of the Orange County Area Median Income adjusted for household size appropriate to the unit, (as shown in Table 1).1 1 “Adjusted for household size appropriate to the unit” shall mean for a household of one person in the case of a studio unit, two persons in the case of a one-bedroom unit, and three persons in the case of a two-bedroom unit.
The term Rent Restricted shall mean any Unit that is a Low- Income Unit.
In accordance with the process described in “C,” below, the SPAP shall identify those SPAP Enrollees, as defined in Section IV of this Agreement, and the CMS shall identify those SPAP Enrollees that are Medicare Part D beneficiaries or that have been approved for the Low Income Subsidy.
Borrower also covenants and agrees to verify that the income information provided by an applicant or occupying household in an income certification affidavit or certificate is in compliance with the guidelines of Section 42 of Code for the Low Income Housing Tax Credit Program.
The Issuer, the Fiscal Agent and the Owner hereby further declare their understanding and intent that the benefit of such covenants touch and concern the land by enhancing and increasing the enjoyment and use of the Project by Low- Income Tenants, the intended beneficiaries of such covenants, reservations and restrictions, and by furthering the public purposes for which the Note was issued.

More Definitions of Low-income

Low-income means 50 percent or less of the median gross

Low-income means median household income at or below sixty-five percent (65%) of the statewide median income for Massachusetts, according to federal census data.

Low-income means, with respect to any Tenant, an income level not exceeding 50% or 60% of Area Median Gross Income, as provided in Section 4b hereof, or such alternative income level as may be set forth in Appendix A.

Low-income means gross household income adjusted for family size that is at or below eighty percent (80%) of Area Median Income, but more than fifty percent (50%) of Area Median Income.

Low-income. (SIP) means any person or persons whose actual individual or family income is not more than 125 percent of the poverty guidelines issued annually by the U.S. Department of Labor in accordance with Section 507(2) of the Older Americans Act.

Low-income means a household income that is less than or equal to 60% of the AMI for the area in which a Project is located.

Low-income means household incomes as defined by the