Lower income families definition

Lower income families means families whose incomes do not exceed eighty percent of the median income for the area with adjustments for the size of the family or other adjustments necessary due to unusual prevailing conditions in the area, and includes but is not limited to very low income families.
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Lower income families are persons or families whose annual incomes do not exceed 80% of Area Median Income.
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Lower income families means families whose incomes do not exceed 80 percent of the median income for the area with adjustments for the size of the family or other adjustments necessary due to unusual prevailing conditions in the area, and includes, but is not limited to, very low-income families. “Low- or moderate-income families” means families who cannot afford to pay enough to cause pri- vate enterprise in their locality to build an adequate supply of decent, safe, and sanitary dwellings for their use, and also includes, but is not limited to, (1) elderly families, families in which one or more persons are handicapped or disabled, lower-income families and very low-income families; and (2) families purchasing or renting qualified residential housing whose incomes do not exceed 100 percent of the median income for the area with adjustments for the size of the family or other adjustments nec-
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Examples of Lower income families in a sentence

  • Lower income families (below $40 000) are out of the market completely; only at around $60 000 is there capacity to purchase, but then this applies only in outer suburbs and growth areas.

  • Lower income families will likely be subject to a flat dollar amount penalty.

  • Lower income families spend a higher percentage of their total income on essentials like food and shelter, and in many cases, may depend on the earnings of children to provide for these basic needs.

  • Lower- income families may agree to in-home interviews but may be more likely to respond negatively to invitations that require more active participation to secure consent (like attending an information session at a specified venue) with no guaranteed return.

  • Lower income families should benefit as visiting open space is a free activity everyone can do.

  • Lower income families spend more on basics (including food) and higher income families can afford a greater proportion on non-food items.

  • Lower income families find themselves saddled by monthly housing costs at an even higher rate.

  • Lower income families are less likely to use early education and center-based care compared to higher income families (Coley et al., 2014).

  • In the event the resident’s income fluctuates and returns to a lower level and within the stated income limits, Housing Nantucket will reevaluate the resident’s household income and take appropriate action to make an adjustment to the rent according to the change in household income.

  • Lower- income families are economically worse off now than a few years ago.The economic recession has had significant impact in New Hampshire and many people are struggling financially.

Related to Lower income families

  • Units serving lower income households means units that are occupied by lower income households at an affordable rent, as defined in section 50053 of the Health and Safety Code or, to the extent that the terms of federal, state, or local financing or financial assistance conflicts with section 50053, rents that do not exceed those prescribed by the terms of the financing or financial assistance. Effective October 13, 2017, pursuant to Revenue and Taxation Code section 214(g)(2)(A)(iii), a unit in a property that receives federal low income housing tax credits shall continue to be treated as occupied by a lower income household if the occupants were lower income households on the lien date in the fiscal year in which their occupancy of the unit commenced and the unit continues to be rent restricted, notwithstanding an increase in the income of the occupants of the unit to 140 percent of area median income (AMI), adjusted for family size (“over-income” tenants). Units reserved for lower income households at an affordable rent that are temporarily vacant due to tenant turnover or repairs shall be counted as occupied.

  • Family income means all income that is included in a determination of family income under section 143(f) of the internal revenue code, 26 USC 143(f), together with the income of all adults who will reside in the residence, which income might otherwise be excluded from consideration because the individual was not expected to both live in the residence and be primarily or secondarily liable on the mortgage note.

  • Moderate-income household means a household with a total gross annual household income in excess of 50 percent but less than 80 percent of the median household income.

  • Adjusted Income means, with respect to a HOME Development, the gross income from wages, income from assets, regular cash or noncash contributions, and any other resources and benefits determined to be income by HUD, adjusted for family size, minus the deductions allowable under 24 CFR §5.611.

  • Program Income means gross in- come earned by the recipient that is di- rectly generated by a supported activ- ity or earned as a result of the award (see exclusions in § 215.24(e) and (h)). Program income includes, but is not limited to, income from fees for serv- ices performed, the use or rental of real or personal property acquired under federally-funded projects, the sale of commodities or items fabricated under an award, license fees and royalties on patents and copyrights, and interest on loans made with award funds. Interest earned on advances of Federal funds is not program income. Except as other- wise provided in Federal awarding agency regulations or the terms and conditions of the award, program in- come does not include the receipt of principal on loans, rebates, credits, dis- counts, etc., or interest earned on any of them.

  • Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income (including any other fees, other than fees for providing managerial assistance, such as commitment, origination, structuring, diligence and consulting fees or other fees that the Corporation receives from portfolio companies) accrued during the calendar quarter, minus the Corporation’s operating expenses for the quarter (including the Base Management Fee, expenses reimbursed to the Adviser under this Agreement and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the Incentive Fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount debt instruments with payment-in-kind interest and zero coupon securities), accrued income that the Corporation has not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation.

  • Fixed Income Securities means Debt Securities created and issued by, inter alia, Central Government, State Government, Local Authorities, Municipal Corporations, PSUs, Public Companies, Private Companies, Bodies Corporate, Unincorporated SPVs and any other entities which may be recognized / permitted which yield a fixed or variable rate by way of interest, premium, discount or a combination of any of them.

  • Moderate-income unit means a restricted unit that is affordable to a moderate-income household.