Sentences with phrase «area median income»
The homes will incorporate water - use reduction, insulation, and other green building features, and will be affordable to families at or below 90 percent of area median income.
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A borrower's income must be no higher than 115 % of the adjusted area median income.
In addition to area median income requirements, you must meet the income restrictions for your respective county.
It's limited to borrowers with a maximum of 100 percent of area median income, or those who purchase in «underserved» areas.
She makes about 51 percent of area median income in a neighborhood that is undergoing rapid gentrification.
And Leila Bozorg, chief of staff at HPD, said infill units for tenants earning less than 60 percent of the federally set area median income — roughly $ 46,600 for a family of three — could qualify for the state's 420c tax credit.
The new Dana Strand, designed by KTGY Group Inc., provides 100 affordable, one - bedroom senior apartments to house seniors with annual incomes at or below 30 percent of the Los Angeles County area median income.
The report compares several projects by the de Blasio administration to the Aspen, an early Bloomberg - era development and venture between Ms. Glen and L&M that included half market - rate apartments, and half that were affordable units at either 50 or 130 percent of the city's so - called area median income (currently about $ 86,000 for a family of three).
He'd also like to see an end to vacancy decontrol and a revamp of the 421 - a program that takes the neighborhood Area Median Income into consideration, as opposed to the current system that includes New York City and the wealthier areas of Westchester, Putnam and Rockland Counties.
The above incomes reflect the U.S. Department of Housing and Urban Development's (HUD) 2014 area median income calculations.
The ten - story building contains 80 mixed - income co-op units, and 60 units are affordable for families at various Area Median Income levels.
However, community members have strongly opposed the project, saying that it should be 100 % affordable, rather than 50 %, with affordability based on the Crown Heights median income, rather than the broader New York Metropolitan Area Median Income (which considers the suburbs, as well).
While the candidate said he would fight for more and better affordable housing, he said the first step would be to change the formula, known as Area Median Income, which calculates the price of affordable housing based on the median income of the entire city.
Dates of Availability: Loan reservations will be accepted for House Key Plus ARCH for borrowers at or below 80 % of Area Median Income beginning 01/16/2013 in conjunction with a Home Advantage or House Key Opportunity first mortgage.
Instead of a set figure for affordability, the annual review will calculate area median income and then reverse engineer what a buyer would likely be able to afford at current interest rates, assuming a 5 percent down payment.
Fifty percent of Webster Green's 82 apartments, developed by the Doe Fund, will be reserved for eligible low - income households at or below 60 percent of area median income, with preference for local area residents who are either homeless or at risk of becoming homeless.
The first would obligate the builder to allocate a quarter of their new units to people making 60 percent of the federally - set area median income — meaning the apartments would be priced for a family of three making $ 47,000 annually.
Borrowers can not exceed 80 % of the LA County area median income.
Qualifying income can not exceed 80 % of the HUD area median income (AMI), adjusted for household size.
Seattle, for instance, offers up to $ 45,000 in down payment assistance for homebuyers that have an income below 80 % of the area median income.
However, you must earn less than the area median income in your county and have a FICO score of at least 680.
First - time Massachusetts homebuyers whose total household income doesn't exceed 100 % of area median income (AMI).
The units are affordable for those earning no more than 60 percent of the area median income.
Additionally, the borrower's «annual qualifying income must not exceed 100 % of the area median income or the income multipliers in the designated high - cost areas.»
For instance, if your area median income is $ 50,000, you could make up to $ 57,500 and still qualify.
There is no income limit in low - income census tracts, and the income limit in other areas is typically 100 % of area median income.
If you're interested in the latter, you need to be a first - time homebuyer at or below 80 % of the area median income.
The renovations will preserve affordability for very low income seniors with an average income level of 28 percent of the Area Median Income.
Free energy audits will be provided to individuals with incomes up to 200 percent of the Area Median Income, and reduced priced energy will be available to households with incomes up to 400 percent of the Area Median Income.
The rental homes will serve households with incomes below 60 percent of the area median income.
Currently it mandates developers who build in rezoned areas of the city pick from one of three options for affordable housing: 25 percent of their units rented to those making, on average, 60 percent of the Area Median Income, 30 percent at 80 percent of the AMI or 30 percent at 120 percent.
Both buildings are reserved for families and individuals earning up to 60 percent of the area median income (AMI).
That would help families of three earning less than $ 42,950, half of the area median income for the greater New York City area.
All of the apartments will be affordable to residents at 80 percent of the area median income.
LIHC provides a dollar - for - dollar reduction in federal income tax liability for project owners who develop rental housing that serves low - income households with incomes up to 60 % of area median income.
Housing is reserved for those earning between 30 - 60 % of the Area Median Income with a few units being reserved for those with physical disabilities / Traumatic Brain Injury (TBI).
According to her Middle Class Squeeze report, issued today, it lies «between 100 percent and 300 percent of area median income.»
The second would require the developer to set aside 30 percent of their new building for people making 80 percent of the area median income, or $ 62,000 for a family of three.
Eight apartments will be set aside for households making at or below 50 percent of the area median income.
The area median income used to calculate affordability includes Westchester and Putnam counties.
The apartments are reserved for households earning at or below 60 percent of the area median Income.
According to Michael Carter, a representative from State Sen. Marisol Alcantara's office, Inwood's area median income is a full 30 percent below, and 40 percent is rent burdened.
All two and three bedroom units, ranging in size from 952 square feet to 1,282 square feet, will provide housing for families at or below 60 % of the Area Median Income.
The gross rents (rent plus utilities) will range from $ 638 to $ 1,125 a month, and will be affordable to households with incomes at or below 80 % of area median income.
(His bill deems that standard to be no more than 125 percent of the area median income.)