Low Income Tenants definition

Low Income Tenants means tenants whose com- bined total income per dwelling unit is at or below fifty per- cent of the median income, adjusted for family size, in the county where the tenants reside.

Low Income Tenants means persons and families whose income does not exceed the qualifying limits for lower income families as established and amended from time to time pursuant to Section 8 of the United States Housing Act of 1937, or as otherwise defined in Health and Safety Code Section 50079.5.

Low Income Tenants. Individuals or families with Adjusted Income which does not exceed 60 percent of the Median Income for the Area as adjusted for household size as set forth below and as adjusted in a manner consistent with the determination of lower income families under Section 8 of the United States Housing Act of 1937. In no event, however, will the occupants of a residential unit be considered to be Low Income Tenants if all the occupants are students, as defined in Section 42(i)(3)(D) of the Code, as such may be amended, no one of which is entitled to file a joint federal income tax return. Household Size Adjustment 1 70% 2 80% 3 90% 4 100% 5 108% 6 116% 7 124% 8 132% “Low Income Units” – The dwelling units in the Project designated for occupancy by Low Income Tenants pursuant to Section 4(a)(ii) of this Regulatory Agreement.

Examples of Low Income Tenants in a sentence

• The Issuer and the Owner hereby further declare their understanding and intent that the benefits of such covenants touch and concern the land by enhancing and increasing the enjoyment and use of the Project by Low Income Tenants, the intended beneficiaries of such covenants, reservations and restrictions, and by furthering the public purposes for which the Bonds were issued.

• In performing their duties and obligations hereunder, the Issuer, the Administrator and the Trustee may rely upon statements and certificates of the Low Income Tenants, and upon audits of the books and records of the Owner pertaining to the Project.

• A Low-Income Unit that has been vacated will continue to be treated as a Low- Income Unit provided that (I) reasonable attempts are made to rent the Unit and (II) no other Units of comparable or smaller size in the building are rented to persons who are not Low- Income Tenants or are rented without being Rent-Restricted.

• The Issuer and the Borrower hereby further declare their understanding and intent that the benefits of such covenants touch and concern the land by enhancing and increasing the enjoyment and use of the Project by Low Income Tenants, the intended beneficiaries of such covenants, reservations and restrictions, and by furthering the public purposes for which the Bonds were issued.

• In performing their duties and obligations hereunder, the Governmental Lender may rely upon statements and certificates of the Borrower, the Low Income Tenants, the Very Low Income Tenants, and upon audits of the books and records of the Borrower pertaining to the Project.

More Definitions of Low Income Tenants

Low Income Tenants means persons or families with Adjusted Income which does not exceed 60% of the Median Income for the Area adjusted for household size. In no event will the occupants of a unit be considered to be Low Income Tenants if all of such occupants are students (as defined in Section 152(f)(2) of the Code), unless the unit is occupied:

Low Income Tenants means persons or families having an income that is greater than fifty percent (50%) but not more than sixty percent (60%) of Median Income (as hereinafter defined), with adjustments for smaller or larger families.

Low Income Tenants has the meaning ascribed to such term in the Regulatory Agreement.

Low Income Tenants means individuals or families (i) with an Adjusted Income that does not exceed sixty percent (60%) of the Median Income for the Area with adjustments for family size; and (ii) with an income that does not exceed the qualifying limits for low income families as established and amended from time to time pursuant to Section 8 of the Housing Act, or who otherwise qualify as lower income households as defined by Section 50079.5 of the California Health and Safety Code. If all the occupants of a unit are students (as defined under Section 151(c)(4) of the Code), no one of whom is entitled to file a joint return under Section 6013 of the Code, such occupants shall not qualify as Low Income Tenants.

Low Income Tenants means persons and families whose income does not exceed the qualifying limits for lower income families as established and amended from time to time pursuant to Section 8 of the United States Housing Act of 1937, or as otherwise defined in Health & Safety Code Section 50079.5. The city shall maintain and provide to owners and tenants information concerning current income levels which qualify tenants as "Low- Income" under this section.

Low Income Tenants means the tenants of the Project that qualify to rent the minimum 40% low income or 20% very low income, whichever requirement is selected by the Governmental Lender and the Borrower, apartment units.

Low Income Tenants means individuals or families whose incomes do not exceed 50% of the area median gross income, adjusted for family size, as determined by Section 142(d) of the Code, for the County. Except as otherwise provided herein, occupants of a dwelling unit shall not be considered to be of low income if all the occupants are students (as defined in Section 152(f) of the Code), no one of whom is entitled to file a joint federal income tax return. Notwithstanding the foregoing, a dwelling unit shall not fail to be treated as a dwelling unit that is occupied by Low-Income Tenants merely because such dwelling unit is occupied (a) by an individual who is (i) a student and receiving assistance under Title IV of the Social Security Act,