Income Determinations. The Annual Household Income for a prospective tenant of a Rental Affordable Unit shall be determined as of the date of the lease and any lease renewals for such Rental Affordable Unit. A Household’s income eligibility to rent a Rental Affordable Unit is determined by calculating both the Maximum Annual Household Income for a Household occupying the Rental Affordable Unit and the Minimum Annual Household Income for a Household occupying the Rental Affordable Unit. The Certifying Authority shall verify that the Household’s Annual Household Income is between the MAXI and MINI.
Income Determinations. A Household’s income eligibility to rent a Rental Affordable Unit is determined by calculating both the Maximum Annual Household Income for a Household occupying the Rental Affordable Unit and the Minimum Annual Household Income for a Household occupying the Rental Affordable Unit and verifying that the prospective Household’s Annual Household Income is between the MAXI and MINI.
Income Determinations. A Household’s income eligibility to rent a Workforce Housing Unit is determined by calculating the Annual Household Income for a Household occupying a Workforce Housing Unit. Annual Household Income for a Workforce Housing Unit shall be within the Designated Income Range.
Income Determinations. Citations: 24 CFR 92.203(a)(2) and 24 CFR 92.64(a) (Insular Areas)
Income Determinations. During the term of this Restriction, Grantor shall lease all the Low Income Units to Qualifying Households in accordance with the terms of this Restriction. Grantor represents, warrants and covenants that the determination of whether a household is a Qualifying Household shall be made by Grantor at the time of leasing of each Low Income Unit and thereafter at least annually on the basis of the current income of such household. In initially verifying a household’s income, Grantor shall examine the source documents evidencing annual income (e.g. wage statements, interest statements, unemployment compensation statements) for the household. Grantor shall maintain, until six
Income Determinations. From and after the Final Completion Date (as defined in the Lease) until the expiration or earlier termination of the Term of this Lease, and thereafter so long as Grantor remains in occupancy of the Premises, Grantor shall lease all the Units to Qualifying Households in accordance with the terms of this Lease. Grantor represents, warrants and covenants that the determination of whether a household is a Qualifying Household shall be made by Grantor at the time of leasing of each Unit and thereafter at least annually on the basis of the current income of such household. In initially verifying a household’s income, Grantor shall examine the source documents evidencing annual income (e.g. wage statements, interest statements, unemployment compensation statements) for the household. Grantor shall maintain, until eight (8) years after the respective tenant vacates the premises, as part of its Project records copies of all leases of the Units in the Project and all initial and annual income certifications by tenants of the Units. Grantor shall also provide Town upon request such other information as Grantor is required to provide under the Public Subsidy Program, if any, subject to statutory and regulatory requirements regarding tenant confidential information. Grantor shall also provide the Town with a copy of such other information as the Town may reasonably request in order to ensure compliance with the terms of this Affordable Housing Restriction, subject to statutory and regulatory requirements regarding tenant confidential information and the provisions of the Public Records Law.
Income Determinations. Grantor shall, for the full term of this Restriction, lease all the Restricted Units to Eligible Households in accordance with the terms of this Restriction. Grantor represents, warrants and covenants that the determination of whether a household is an Eligible Household shall be made by Grantor at the time of leasing of each Restricted Unit and thereafter at least annually on the basis of the current income of such household. In initially verifying a household’s income, Grantor shall examine the source documents evidencing annual income (e.g. wage statements, interest statements, unemployment compensation statements) for the household.
