INCOME GUIDELINES. The City shall establish the income guidelines for the program at the beginning of the contract period. These guidelines will remain in effect until the term of the contract has expired. CREDIT/UNDERWRITING: Valley View Bank will take all credit risk in each transaction. Standard underwriting guidelines will apply. An unsecured loan product will be available. The secured loan will be determined by Valley View Bank and will be based on the amount borrowed.
INCOME GUIDELINES. Income refers to total cash receipts before taxes from all sources and for all household members. Exceptions are listed in the “Income Excludes” section that follows. The income guidelines are applicable to both farm and non-farm families. Countable Earned income includes: • Earnings from work as an employee (wages, salary, college work-study, commissions, tips) • Earnings from self-employment • Training allowances paid to persons enrolled in sheltered work-shops • Rental income, room and board • Child Development and Care (CDC) and Home Help services payments to providers paid by MDHHS Allowable Expenses for Earned Income: Net income from employment or self-employment must be determined by deducting allowable expenses of employment from the gross amount received. Expenses of employment are limited to the following: • Apply a 25% deduction for mandatory withholding taxes to all gross earned income using the MEAP expense tab in FACSPro. • Deductions required by the employer as a condition of employment. (See Note below) • Deductions for health insurance (which includes dental insurance and vision insurance if payment is verified). • The cost of dependent care (up to $200 per qualifying child) for either of the following: o A dependent child who is less than 13 years old.
INCOME GUIDELINES. Income guidelines are recalculated every year. Check with your local housing counseling agency for the current income requirements. PROCESS Beyond Housing (000) 000-0000 North East Community Action Corporation (NECAC) (000) 000-0000
INCOME GUIDELINES. Subrecipient will assure that not more that 5% of In School and/or Out of school clients served will exceed income guidelines per federal regulations, and will provide services to non-income eligible clients only when other barriers to employment exist as specified in the policy of the Eastern Board. All 5% enrollments must be approved and tracked by the contract manager and reported to the AE monitoring staff at least quarterly. OUT-OF-SCHOOL YOUTH Subrecipient assures that not less than 75% of total funding will be spent on out-of-school youth.
INCOME GUIDELINES. The City shall establish the income guidelines for the Home Improvement Partnership Program at the beginning of the term of the program. These guidelines will remain in effect until the term of the program has expired.
