Maximum income limits definition

Maximum income limits means the maximum regular income
Sample 1Sample 2Sample 3
Maximum income limits means the maximum regular income limits for 60% of area median income for the geographic area in which the multifamily building is located for multifamily programs as determined by the United States Department of Housing and Urban Development and published annually by the Illinois Housing Development Authority.
Sample 1Sample 2Sample 3
Maximum income limits means the maximum regular income limits for 60% of area median income for the geographic area in which the multifamily building is located for multifamily programs as determined by the United States Department of Housing and Urban Development and published annually by the Illinois Housing Development Authority. Number in HouseholdAffordable Unit Income Limit1$ 39,1802$ 44,7603$ 50,3404$ 55,9205$ 60,4206$ 64,920 • Tax Benefit: 25% of AV• Qualifying Activity: new construction or rehabilitation on or after 2015• Investment Threshold: $8 per square foot and improvement of two primary building systems• Term: 10 years with up to 2 renewals (time in Class 9 counts against)• Minimum building size: 7 units • Tax Benefit: 35% of AV• Qualifying Activity: new construction or rehabilitation on or after 2015• Investment Threshold: $12.50 per square foot and improvement of two primary building systems• Term: 10 years with up to 2 renewals (time in Class 9 counts against)• Minimum building size: 7 units • Tax Benefit: Reduction in assessed value equal to a percentage of the difference between the value of the property one year before the affordable units are occupied and post-construction assessed value• Qualifying Activity: new construction or rehabilitation in a “Low Affordability Community”• Investment Threshold: $60 per square foot and improvement of five primary building systems• Term: 30 years• Minimum building size: 7 units• Project Labor Agreement required prior to start of construction Did You Already Complete Your Required Expenditure?• If you’ve recently rehabbed or completed new construction, you may already meet the investment requirements!• Must otherwise meet all requirements and have completed rehab or new construction on or after January 1, 2015• Time under program is tolled however, by the date in which property placed in service • Applicant= Owner • The attachment link (if attachments are needed to list additional beneficiaries/officers/owners) is at the bottom of the page • Ifattachment needed, link is at bottom of page • The note modifies the succeeding section, not the drop down• Applicant must select new construction or rehabilitation • If the basis for special assessment is rehabilitation, complete this section
Sample 1

Examples of Maximum income limits in a sentence

  • Maximum income limits for all proposed senior projects shall be limited to a two-person household.

  • Additional Senior Requirements:• Demand for senior communities should be measured on appropriate minimum age classification.• Demand for senior communities that includes homeownership conversion should be conservative and take into account the ability, or lack thereof, of seniors to sell homes.• Maximum income limits for senior communities should be based on a maximum household size of two persons.

  • Maximum income limits for efficiency units or smaller one bedroom units may be based on less than two persons per household.• Underwriting (rent burden) percentage for senior communities may be different than general occupancy communities.

  • Maximum income limits (after adjustments):Single - $46,850 2 persons - $52,750 Preference to very low income.Rates:Rates are based on 30% of the residents' adjusted an- nual income.

  • Maximum income limits for efficiency units or smaller bedroom units may be based on less than two persons per household.

  • Maximum income limits for owner-occupants are $107,800 for one and two-person households and $123,900 for three or more persons.

  • Maximum income limits are established by the Department of Housing and Community Development according to median family income (MFI).

  • Maximum income limits for all proposed senior projects shall be limited to a two- person household.

  • Maximum income limits for efficiency units or smaller one bedroom units may be based on less than two persons per household.

  • Maximum income limits for efficiency units or smaller one bedroom units may be based on less than two persons per household. Underwriting (rent burden) percentage for senior communities may be different than general occupancy communities.

Related to Maximum income limits

  • Maximum Limit means that number of issued Shares representing 10% of the total number of issued Shares as at the date of the passing of this Resolution (excluding any Shares which are held as treasury shares as at that date); and

  • Daily Maximum Limit means the maximum allowable discharge of a pollutant during a calendar day. Expressed as units of mass, the daily discharge is cumulative mass discharged over the course of the day. Expressed as a concentration, it is the arithmetic average of all measurements taken that day.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Upper Limit means a specified maximum amount of costs which may be claimed under a Unit of Work, but which may be extended on application. An Upper Limit operates in the same way as a Costs Limitation;

  • Maximum Daily Limit means the maximum allowable "Daily Concentration" (defined above) when expressed as a concentration (e.g. mg/l), otherwise, it means the maximum allowable "Daily Quantity" as defined above, unless it is expressed as a flow quantity. If expressed as a flow quantity it means "Maximum Daily Flow" as defined in Section 22a-430-3(a) of the RCSA.

  • Bag limit means the maximum number of game animals, game

  • Maximum mass means the maximum mass stated by the vehicle manufacturer to be technically permissible (this mass may be higher than the "permissible maximum mass" laid down by the national administration).

  • Maximum Funds means the maximum Funds set out in Schedule “B”.

  • Maximum Basic Grant Amount’ has the same meaning as set out in item 1 of Schedule 1 of HESA; ‘National Law’ means (a) for a state or territory other than Western Australia – the Health Practitioner Regulation National Law as set out in the Schedule to the Health Practitioner Regulation National Law Act 2009 (Qld) as it applies (with or without modification) as a law of the State or Territory; and (b) for Western Australia – the legislation enacted by the Health Regulation National Law (WA) Xxx 0000 that corresponds to the Health Practitioner Regulation National Law;

  • Plan Limit means the maximum aggregate number of Shares that may be issued for all purposes under the Plan as set forth in Section 5(a) of the Plan.

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • Lead Limits means the maximum concentrations of lead and lead compounds (“Lead”) by weight specified in Section 3.2.

  • Aggregate Limit shall have the meaning assigned to such term in Section 1.1 hereof.