Area Median Gross Income definition

Area Median Gross Income means the median gross income of the area in which the Project is located as determined by the Secretary for purposes of Section 42 of the Code, including adjustments for family size.

Area Median Gross Income or “AMGI” means the measure of household income, published by HUD, adjusted for family size, used by the IRS as a reference in establishing income levels for the LIHTC Program (i.e. “sixty percent (60%) of AMGI”, “fifty percent (50%) of AMGI”) and as the base in calculations that yield maximum rents by number of bedrooms. (See the “Imputed Incomes/Allowable Rents” Tables posted on the ADOH website at www.housing.az.gov.)

Area Median Gross Income or “AMGI” means the measure of household income, published by HUD, adjusted for family size, used by the IRS as a reference in establishing income levels for the LIHTC Program (e.g., “60% of AMGI,” “50% of AMGI”) and as the base in calculations that yield maximum rents by number of bedrooms. See the “Imputed Incomes/Allowable Rents” tables appended to this Plan at Exhibit H.

Examples of Area Median Gross Income in a sentence

• Select the percentage (%) of restricted Low-Income Units per the Area Median Gross Income (AMGI).

• LIHTC rents are based upon a percentage of the Area Median Gross Income (“AMI”), adjusted for household size and utilities.

• HUD periodically publishes the list of new QCTs in Rhode Island.A DDA is defined as any area that has high construction, land, and utility costs relative to the Area Median Gross Income ("AMGI").

• For all of the above, “market rate units” mean those not income restricted or else are restricted to households above 60% Area Median Gross Income and are not included in eligible basis.

• A project qualifies for Housing Credit if at least 20% of the project is occupied by households with incomes at or below 50% (20/50 projects) of the Area Median Gross Income (AMGI) or at least 40% of the project is occupied by households with incomes at or below 60% (40/60 projects) of the AMGI.

More Definitions of Area Median Gross Income

Area Median Gross Income means the median Gross Income adjusted for household size, for the county or counties where each Building in a Development is located as determined and published annually by HUD.

Area Median Gross Income means the median gross income for the Area, as determined by the Secretary of the Treasury in a manner consistent with determination of lower-income families and area median gross income under Section 8 of the Housing Law and Section 3009a of the Housing and Economic Recovery Act of 2008, including adjustments for family size or, if programs under Section 8 are terminated, area median gross income determined under the method in effect immediately before such termination.

Area Median Gross Income or “AMI” means the median gross income for a household living in the area in which the Project is located, including adjustment for family size.

Area Median Gross Income or “AMGI” means the measure of household income, published by HUD, adjusted for family size, used by the IRS as a reference in establishing income levels for the LIHTC Program (i.e. “sixty percent (60%) of AMGI”, “fifty percent (50%) of AMGI”) and as the base in

Area Median Gross Income means the gross income for the area in which the Project is located as determined under Section 8 (or, if such program is terminated, under such program as in effect immediately before such termination).

Area Median Gross Income means the median gross income of the area in which the Development is located as determined by the Secretary of Housing and Urban Development for purposes of Section 42 of the Code, including adjustments for family size.

Area Median Gross Income means the median gross income of the area in which the Project is located as determined by the Secretary in a manner consistent with the determination of area median gross income under Section 8 of the Housing Act, with adjustments for family size.