Income Eligibility. The combined maximum income for all adult household members of the Proposed Purchaser shall not exceed the income level designated by the City in the City Response Notice for Income Eligible Households.
Income Eligibility. The units will be leased to individuals whose income levels are at or below 60% of HUD-determined Area Median Family Income for the Durham-Chapel Hill Metro region, as it may be revised from time to time by HUD. AFFORDABILITY PERIOD: Units shall remain affordable for not less than twenty (20) years. ELIGIBLE TENANTS: All units will be rented to Eligible Tenants at or below 60% of HUD-determined Area Median Family Income. Priority will be given to veterans. Each tenant must meet the income restrictions of a single person household. INCOME VERIFICATION: DCLT will verify tenant’s income using the Section 8 regulations for income qualification prior to move-in. DCLT must re-certify incomes on an annual schedule by July 1 of each year. City staff will monitor DCLT’s income verification files at least once per year. MONTHLY RENTS: Four units will be subject to the Low HOME Rent limits and five units will be subject to the High HOME Rent limits. UTILITY PAYMENTS: The following utility payments will be included in the monthly rents for the four units subject to low HOME rents: Electric, Water, Sewer and Garbage Collection.
Income Eligibility. The units will be leased to individuals whose income levels are at or below 50% of HUD-determined Area Median Family Income for the Durham-Chapel Hill Metro region, as it may be revised from time to time by HUD. Each individual will be defined as a separate household for income verification purposes. AFFORDABILITY
Income Eligibility. The Landlord has the right to recertify the Tenant’s income on an annual basis to verify Tenant’s continuing eligibility to reside in a HOME unit. The Tenant’s failure to cooperate in the income recertification process will be a violation of the lease. Deliberately providing false information can result in the termination of the Lease.
Income Eligibility. For any Qualified Purchaser, the Annual Household Income shall be determined as of the date of the sales contract for such For Sale Affordable Unit. To the extent settlement for a For Sale Affordable Unit will not occur within 90 days after the sales contract, the Annual Household Income of the prospective Qualified Purchaser shall be determined again within 90 days prior to settlement. A Household’s eligibility to purchase a For Sale Affordable Unit is determined by calculating both the Maximum Annual Household Income for a Household seeking to occupy the For Sale Affordable Unit and the Minimum Annual Household Income for a Household seeking to occupy the For Sale Affordable Unit and verifying that the prospective Household’s Annual Household Income is between the MAXI and MINI. The Maximum Annual Household Income is determined through the use of the formula: MAXI = (AMI * DAL * HAF). Examples of the calculation of Maximum Annual Household Income are included in the attached Schedule 1. The Minimum Annual Household Income is determined by multiplying the total Housing Cost by twelve (12) and dividing this number by forty-one percent (41%). Examples of the calculation of Minimum Annual Household Income are included in the attached Schedule 1. The Housing Cost is determined by calculating the monthly mortgage payments using the actual terms of the Household’s approved mortgage, and adding all applicable property taxes, homeownership or condominium fees, and hazard insurance. Each Qualified Purchaser shall have its Annual Household Income verified by and obtain a Certification of Income from the Certifying Authority prior to entering into the contract.
Income Eligibility a) Maximum Income: To be considered for selection, a household must have an annual income which does not exceed _80_% of the median income of households of equal size residing in the statistical area (as defined by the U.S. Department of Housing and Urban Development or its successor agency) within which the housing unit is located. There are, however, three exceptions that will be considered:
Income Eligibility. Homeowner certifies that he/she has provided complete, accurate, and current information regarding household income to demonstrate Homeowner’s eligibility to receive Sudbury Housing Trust funds.
Income Eligibility. Xxxxxx is money that is paid to, or on behalf of, any household member. Income includes the current gross income (annualized) of all adult (18 years and older) household members and unearned income attributable to a minor. Income eligibility determinations are based on the household’s income at the time they are seeking assistance. Income inclusion and exclusions are found in Appendix G: Income Inclusions and Exclusions. The combined household income must not exceed 30 percent of area median income as defined by HUD. Income limits are based on Area Median Income (AMI) which can be located for each county at: xxx.xxxxxxx.xxx (Data Sets, Income Limits). The following are exempt from income eligibility requirements for the first 90 days of program participation: ✓ Households entering Interim Housing. ✓ Homeless households entering a Rapid Re-Housing program. Income eligibility is never required for Drop-in Shelter or Continuous-stay Shelter2. For all clients receiving HEN services, the HEN Referral from DSHS as documented in the Benefits Verification System (BVS) is required. For all clients receiving TANF services, proof of TANF Enrollment from DSHS as documented in the Benefits Verification System (BVS) is required. INCOME ELIGIBILITY REQUIREMENTS Interventions Length of program Homeless At Imminent Risk of Homelessness Drop-in Shelter Up to 24 months None N/A Continuous-stay Shelter 90 days or less None 3 N/A Interim Housing More than 90 days and up to 24 months Enrollment: Income Eligibility waived for 90 days Enrollment and Recertification: At or below 30% AMI 2 If a household stays longer than 90 days, Interim Housing eligibility is required. Recertification: At or below 30% AMI CHG Rent Assistance Up to 24 months Enrollment: Income Eligibility waived for 90 days Enrollment and Recertification: At or below 30% AMI Recertification: At or below 30% AMI Enrollment: DSHS HEN Referral Enrollment: DSHS HEN Referral HEN Rent Assistance No time limit Recertification: DSHS HEN Referral and at or below 30% AMI Recertification: DSHS HEN Referral and at or below 30% AMI TANF Rent Assistance Up to 24 months Enrollment and Recertification: TANF Enrollment Enrollment and Recertification: TANF Enrollment PSH No time limit Enrollment: At or below 30% AMI and an adult HH member with a permanent disability N/A Recertification: None
Income Eligibility. Mortgagor represents and warrants to Mortgagee that Mortgagor’s household income, as of the time of Mortgagor’s execution of its purchase contract for the Mortgaged Property, met the income eligibility requirements established by the City applicable to a purchaser of the Home, as set forth in the definition of Qualified Household on Exhibit B hereto.
Income Eligibility. The combined maximum income for all household members of the Proposed Purchaser shall not exceed the qualifying limit for INSERT MODERATE or LOW INCOME households as defined in California Health and Safety Code Section 50079.5, adjusted for household size, as published annually by HCD. In the event such income determinations are no longer published by HCD, or are not updated for a period of at least eighteen (18) months, the City shall provide other income determinations which are reasonably similar with respect to method of calculation to those previously published by HCD. The income of a household shall be calculated in accordance with 25 California Code of Regulations Section 6914 or a successor state housing regulation that sets forth a method of calculation of household income.
