Very Low Income Tenants definition

Very Low Income Tenants. Individuals or families with Adjusted Income which does not exceed 50 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 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 Very 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.
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Very Low Income Tenants means persons or families having an income that is fifty percent (50%) or less of Median Income, with adjustments for smaller and larger families.
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Very Low Income Tenants means individuals or families whose income does not exceed the qualifying limits for very low income families as established and amended from time to time pursuant to Section 8 of the Housing Act, or who otherwise qualify as very low income households as defined by Section 50105 of the California Health and Safety Code.
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Examples of Very Low Income Tenants in a sentence

  • 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.

  • The Governmental Lender and the Borrower hereby further declare their understanding and intent that the benefit of such covenants touch and concern the land by enhancing and increasing the enjoyment and use of the Project by Low Income Tenants and Very Low Income Tenants and by furthering the public purposes for which the Governmental Lender Note was issued.

  • 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 Very Low Income Tenants, the intended beneficiaries of such covenants, reservations and restrictions, and by furthering the public purposes for which the Bonds were issued.

  • All Units leased to Very Low Income Tenants or Low Income Tenants shall have substantially the same equipment, amenities and facilities and shall be of substantially the same quality and type of construction as the other Units.

  • Based upon information available to it, the Authority has determined that it is economically feasible to make ten percent of the units available to Very Low Income Tenants as defined in the Regulatory Agreement only to the extent set forth in the Regulatory Agreement.

  • In addition, the Board and the Manager receive regular updates on new regulation from its auditor, lawyers and other professional bodies.

  • At least ______of the Units shall be leased to Very Low Income Tenants (“Very Low Income Units”).

  • A copy of the most recent Income Certifications for Very Low Income Tenants commencing or continuing occupation of a Very Low Income Unit shall be attached to each report to be filed with the Issuer pursuant to paragraph (f) of this Section 4.

  • In performing its duties and obligations hereunder, the City may rely upon statements and certificates of the Owner and the Very Low Income Tenants, and upon audits of the books and records of the Owner pertaining to the Project.

  • For the most part, not less than twenty percent (20%) of the completed units in the Project shall be designated as Very Low Income Units which are occupied, or held vacant for occupancy, and shall be continuously occupied (or held vacant and available for immediate occupancy) by Very Low Income Tenants.


More Definitions of Very Low Income Tenants

Very Low Income Tenants. Any Tenant whose Adjusted Income does not exceed fifty percent (50%) of the Median Income for the Area; provided, however, if all the occupants of a unit are students (as defined under Section 152(f)(2) 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 Very Low Income Tenants. The determination of a Tenant’s status as a Very Low Income Tenant shall initially be made by the Borrower on the basis of an Income Certification Form (a form of which is attached hereto as Exhibit C) executed by the Tenant upon such Xxxxxx’s occupancy of a unit in the Project and upon annual recertification thereafter.
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Related to Very Low Income Tenants

  • Very Low Income means 30 percent or less of the median gross

  • Very low-income household means a household with a total gross annual household income equal to 30 percent or less of the median household income.

  • Very low-income unit means a restricted unit that is affordable to a very low-income household.

  • Low-income housing means housing affordable according to

  • Extremely low-income household means a single person,

  • Low Income Households means households earning 80 percent or less of the countywide median income.

  • Low-income household means a household with a total gross annual household income equal to 50 percent or less of the median household income.

  • Low-income family means "a family whose annual income does not exceed 80 percent of the median income for the area, as determined by HUD with adjustments for smaller and larger families, except that HUD may establish income ceilings higher or lower than 80 percent of the median income for the area on the basis of HUD's findings that such variations are necessary because of unusually high or low family incomes."

  • Low-income means the Adjusted Income for a Family which does not exceed 80 percent of the area median income.

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

  • Low-income customer means a utility customer whose household income is at or below 200% of the Federal Poverty Level (FPL) and provides proof of meeting the eligibility requirement at the time of enrollment.

  • Eligible low-income customer means a customer whose household income does not exceed 150% of the poverty level, as published by the United States department of health and human services, or who receives any of the following:

  • Low-income unit means a restricted unit that is affordable to a low-income household.

  • Low-Income Community ’ means any census block

  • Low-income person means a person with a family income of not more than 60% of the statewide median gross income who is eligible to participate in the charitable nonprofit housing organization's program based on criteria established by the charitable nonprofit housing organization.

  • Persons of low income means persons or families who lack the amount of income which is necessary (as determined by the housing authority undertaking the housing project) to enable them, without financial assistance, to live in decent, safe and sanitary dwellings, without overcrowding;

  • Below Investment Grade means, with respect to any Series of RVMTP Shares and as of any date, the following ratings with respect to each Rating Agency (to the extent it is a Rating Agency on such date):

  • Excess Cash Flow Interim Period means, (x) during any Excess Cash Flow Period, any one, two, or three-quarter period (a) commencing on the later of (i) the end of the immediately preceding Excess Cash Flow Period and (ii) if applicable, the end of any prior Excess Cash Flow Interim Period occurring during the same Excess Cash Flow Period and (b) ending on the last day of the most recently ended fiscal quarter (other than the last day of the fiscal year) during such Excess Cash Flow Period for which financial statements are available and (y) during the period from the Closing Date until the beginning of the first Excess Cash Flow Period, any period commencing on the Closing Date and ending on the last day of the most recently ended fiscal quarter for which financial statements are available.

  • Qualified low-income community investment means any capital

  • Low-income individual means an individual who:

  • Low terrain means any area other than high terrain.

  • Low Impact Development or “LID” means a site design strategy that maintains, mimics or replicates pre- development hydrology through the use of numerous site design principles and small-scale treatment practices distributed throughout a site to manage runoff volume and water quality at the source.

  • Follow-up means the organized method of systematically determining the status of consumers after they have been discharged to determine post-treatment outcomes and utilization of post-treatment referrals.

  • low-vision means a condition where a person has any of the following conditions, namely:—

  • Ultra Low Sulfur Diesel Fuel means diesel fuel that has a sulfur content of no more than fifteen parts per million.

  • low water mark means the line on the interior surface of the primary and secondary cells which is normally reached when the cell is discharged;