Very low-income household definition

Very low-income household means a household with a total gross annual household income equal to 30 percent or less of the median household income.
Very low-income household means a household whose income shall be no more than 50% of AMI.
Very low-income household means a household whose annual gross income does not exceed fifty percent (50%) of the Area Median Income, adjusted for Actual Household Size.

Examples of Very low-income household in a sentence

If, upon the annual certification of the income of a Tenant of a Very Low Income Unit, Borrower determines that the income of the Tenant has increased above the qualifying limit for a Very Low Income Household, but not above the qualifying income for a Low Income Household, the Tenant may continue to occupy the Unit and the Tenant's Rent will remain at the Very Low Income Rent.

Borrower shall then rent the next available Unit to a Very Low Income Household to comply with the requirements of Sections 2.1(c) or 2.1(d) above as applicable, at a Rent not exceeding the maximum Rent specified in Section 2.2(c), or re-designate another comparable Unit in the Development with a Very Low Income Household a Very Low Income Unit, to comply with the requirements of Section Sections 2.1(c) or 2.1(d) above as applicable.


More Definitions of Very low-income household

Very low-income household means a person, a family, or unrelated persons living together whose adjusted household income is not more than 50% of the area median income, as determined by the authority.
Very low-income household means households whose income does not exceed the very low income limits applicable to Sacramento County, as published and periodically updated by the State Department of Community Development pursuant to Section 50105 of the California Health and Safety Code.
Very low-income household means a household whose income does not exceed 50% of the area median income, adjusted for household size.
Very low-income household means a single person, family, or unrelated persons living together whose adjusted income is less than fifty percent of the median family income, adjusted for household size for the county where the project is located.
Very low-income household means a single per- son, family, or unrelated persons living together whose income is at or below fifty percent of the median income adjusted for family size as most recently determined by the federal department of housing and urban development for the county in which the rental housing or mobile home park is located. The median income level is that which is in effect as of January 1st of the year the application for exemption is submitted; and
Very low-income household means a household with an Adjusted Income that does not exceed fifty percent (50%) of Median Income, with adjustments for smaller and larger families, except that HUD may establish income ceilings higher or lower than fifty percent (50%) of Median Income on the basis of HUD findings that such variations are necessary because of prevailing levels of construction costs or fair market rents, or unusually high or low family incomes, as set forth in 24 C.F.R. Section 92.2.
Very low-income household means a single person,