Over Income Households Sample Clauses

Over Income Households. The parties to this Lease Addendum agree that the following rent restrictions apply for over income households: if the household income exceeds 80% of Area Median Income (AMI) as published by HUD while residing in a HOME assisted unit, the rents will no longer be based on the HOME rent limits, instead, upon the next annual recertification, the resident will be required to pay 30% of their adjusted income for rent.
Sample 1
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Over Income Households. (i) Intentionally Omitted (ii) If, during a lease term, a Moderate-, Low-, or Very Low- Income Household’s annual income increases above 140% of the qualifying income level as established by Exhibit I and Exhibit J, then upon lease renewal such Moderate-, Low-, or Very Low-Income Household, as applicable, would be considered an “Over-Income Household” and would no longer be qualified to occupy their Income-Restricted Unit. Such Over-Income Household may nevertheless be permitted to continue to reside as a tenant in the Spectrum Apartments if (A) a comparable Market-Rate Unit is available for occupancy, (B) the Over-Income Household is qualified to rent such comparable Market-Rate Unit, (C) the Borrower agrees to either re-designate the Over-Income Household’s apartment unit as a Market-Rate Unit or require the Over-Income Household to move into the comparable Market-Rate Unit, and (D) the Over- Income Household agrees to lease either the re-designated apartment unit or the comparable Market-Rate Unit, as applicable, at the then prevailing market rent. If the Borrower permits the Over-Income Household to remain in its re-designated apartment unit, then the Borrower shall designate the comparable Market-Rate Unit as an applicable Income-Restricted Unit.
Sample 1
Over Income Households. If any unit is leased to a Low-Income Household but such household ceases to be a Low-Income Household during its tenancy, provided that such household shall remain subject to the terms and requirements of the HAP Contract, the PBV Program and its residential lease.
Sample 1
Over Income Households. Public Housing Authorities are vested by HUD with the discretion to terminate assistance to over income households and in doing so thereby making units available for applicants who are income-eligible. CMHA is committed to keeping a balanced approach to having mixed income communities and diversity within its communities. Lease termination is considered when the total household income is over 80% AMI income. In making its decision to terminate the lease, the CMHA will exempt the following families from termination when it is solely based upon their status as an over income individual or family.
Sample 1
Over Income Households 
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Related to Over Income Households

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  • Overtime Meal Allowance Employees required to work more than two (2) hours overtime consecutive with a shift shall be provided with a meal by the Employer.

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