Increases in Tenant Income. After initial occupancy by a Very-Low-Income person, the Annual Gross Income may increase but cannot exceed one hundred forty percent (140%) of fifty percent (50%) of the median income for the Orlando MSA.
Increases in Tenant Income. A tenant who qualifies as an Extremely Low Income Household prior to occupancy of a Housing Unit in compliance with the Agreement shall be deemed to continue to be so qualified until such time as the annual re-verification of such tenant’s income demonstrates that such tenant no longer qualifies as an Extremely Low Income Household. A tenant household whose income increases such that such tenant household ceases to be income qualified to occupy any Housing Unit at the Project, may continue to occupy the Housing Unit and be charged rent including a reasonable utility allowance, not greater than the lesser of thirty percent (30%) of the household’s adjusted monthly income, recertified annually, or the market rent applicable to the Housing Unit as published by HUD (and State HCD) for up to twelve (12) months following notice to Developer of such tenants’ increase in income, at which time Developer shall require the over-income household to vacate the Housing Unit and shall re-let the Housing Unit to a qualified Extremely Low Income Household. Developer shall ensure that all tenant leases contain provisions to effectuate the foregoing requirements.
Increases in Tenant Income. Units shall qualify as affordable housing pursuant to the requirements of this Agreement despite temporary noncompliance, if the noncompliance is caused by increases in the incomes of existing tenants and if actions satisfactory to Agency are being taken to ensure that all vacancies are filled in accordance with this Agreement until the noncompliance is corrected. A tenant who qualifies as a Very Low Income or a Low Income Household prior to occupancy of a Unit in compliance with this Agreement shall be deemed to continue to be so qualified until such time as reverification of such tenant's income demonstrates that such tenant no longer qualifies as a Very Low Income or Low Income Household, as the case may be. A tenant occupying a Unit who ceases to qualify as a Very Low Income Household, but qualifies as a Low Income Household may continue to occupy his or her existing Unit and be charged rent equal to the Affordable Rent calculated pursuant to Section 50053 of the California Health and Safety Code for a Low Income Household. A tenant occupying a Unit who ceases to qualify as a Low Income Household, but whose gross household income does not exceed one hundred eighty percent (180%) of area median income for Santa Xxxxxxx County may continue to occupy his or her existing Unit and be charged rent equal to the Affordable Rent calculated pursuant to Section 50053 of the California Health and Safety Code for a Low or Moderate Income Household. Any tenant whose income exceeds the one hundred eighty percent (180%) of area median income for Santa Xxxxxxx County may continue to occupy his or her dwelling unit and be charged rent including a reasonable utility allowance, equal to thirty percent (30%) of the household's monthly income, recertified annually. The provisions of this paragraph are subject to any applicable provisions of a regulatory agreement or other agreement associated tax credit or other financing.
Increases in Tenant Income. A tenant who qualifies as an Extremely Low Income Household (or Very Low Income Household, as and if applicable, after the HUD Affordability Period) prior to occupancy of a Housing Unit in compliance with the Agreement shall be deemed to continue to be so qualified until such time as the annual re-verification of such tenant’s income demonstrates that such tenant no longer qualifies as an Extremely Low Income Household (or Very Low Income Household, as and if applicable, after the HUD Affordability Period.) A tenant household whose income increases such that such tenant household ceases to be income qualified to occupy any Housing Unit at the Project, may continue to occupy the Housing Unit and be charged rent including a reasonable utility allowance, not greater than the lesser of thirty percent (30%) of the household’s adjusted monthly income, recertified annually, or the market rent applicable to the Housing Unit as published by HUD (and State HCD) for up to twelve (12) months following notice to Developer of such tenants’ increase in income, at which time Developer shall require the over- income household to vacate the Housing Unit and shall re-let the Housing Unit to a qualified Extremely Low Income Household (or Very Low Income Household, as and if applicable, after the HUD Affordability Period.) Developer shall ensure that all tenant leases contain provisions to effectuate the foregoing requirements.
Increases in Tenant Income. HOME-ARP-Assisted Units will continue to qualify as affordable housing despite a temporary noncompliance with Section 3 if the noncompliance is caused by increases in the incomes of existing tenants and if actions satisfactory to HUD are being taken to ensure that all vacancies are filled in accordance with Section 3 until the noncompliance is corrected. Tenants who no longer qualify as Low-Income Households must pay as rent the lesser of the amount payable by the tenant under State or local law or 30 percent of the household's adjusted monthly income, as recertified annually. The preceding sentence will not apply with respect to funds made available for units that have been allocated a low-income tax credit by a housing credit agency pursuant to Section 42 of the Internal Revenue Code 1986 (26 U.S.C. 42).
