Extremely Low Income definition

Extremely Low Income means a household earning less than 30 percent of area median income pursuant to Health and Safety Code, section 50105.

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Extremely Low Income means a household income that falls at or below thirty percent (30%) of the AMI for the area in which a Project is located.

Extremely Low Income means individuals or families whose annual incomes do not exceed 30 percent of the median income for the area, as determined by HUD.

Examples of Extremely Low Income in a sentence

• Upon renting the next available Unit in accordance with Section 2.1(a) or re-designating another Unit in the Development as an Extremely Low Income Unit, the Unit with the over-income Tenant will no longer be considered a County-Assisted Unit.

• If, upon the annual certification of the income of a Tenant of an Extremely Low Income Unit, Borrower determines that the income of the Tenant has increased above the qualifying limit for an Extremely Low Income Household, but not above the qualifying income for a Low Income Household, the Tenant may continue to occupy the Unit and the Tenant's Rent will remain at the Extremely Low Income Rent.

• Borrower shall then rent the next available Unit to an Extremely Low Income Household to comply with the requirements of Section 2.1(a) above, at a Rent not exceeding the maximum Rent specified in Section 2.2(a), or re-designate another comparable Unit in the Development with an Extremely Low Income Household an Extremely Low Income Unit, to comply with the requirements of Section 2.1(a) above.

• The determination of whether the Annual Income of a family or individual occupying or seeking to occupy a Qualifying Unit complies with the requirements for Extremely Low Income Households or Low- Moderate-Income Households shall be made by the applicable Housing Authority in the program area prior to admission of such family or individual to occupancy of a Qualifying Unit (or to designation of a Unit occupied by such family or individual as a Qualifying Unit).

• The maximum monthly rent (which includes the tenant paid portion of the rent, the Utility Allowance, and rental assistance payment) charged by Owner for zero (0) Qualifying Units occupied by Extremely Low Income Households must be set at levels that are affordable to Low-Moderate-Income Households and shall not exceed the thirty percent (30%) maximum rent limits determined by HUD and published on an annual basis with adjustment for family size.

More Definitions of Extremely Low Income

Extremely Low Income means a household income that falls between fifteen percent (15%) and thirty percent (30%) of the AMI for the area in which a Project is located.

Extremely Low Income means Income not exceeding 30% of Median income.

Extremely Low Income means income that is at or below 30% of the area median income as determined pursuant to the regulations and guidance governing the National Housing Trust Fund.

Extremely Low Income means having a household income equal to 30% or less of the area median income.

Extremely Low Income means an annual household income that is 30% or less of area median income based on HUD determined guidelines adjusted for family size.

Extremely Low Income means Income not exceeding 30% of Median Income. “First-Time Homebuyer” is defined in Chapter 4, section 1.B.

Extremely Low Income for the HTCC Program means low-income Families whose income does not exceed 25% AMI.