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1994-048
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1994-048
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Last modified
6/12/2019 3:56:27 PM
Creation date
6/12/2019 3:49:48 PM
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Template:
Resolutions
Resolution Number
1994-48
Approved Date
04/05/1994
Entity Name
Ship
Subject
Local Housing Asst. Plan
Area
Indian River County
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i. For rental units: <br />(a) A very low-income person's annual adjusted <br />gross income may increase to an amount not to <br />exceed one hundred forty percent (1408) of <br />fifty percent (508) of the median income <br />adjusted for family size for the purposes of <br />the IRCLHAProgram; <br />(b) A low-income person's annual adjusted <br />gross income may increase to an amount not to <br />exceed one hundred forty percent (1408) of <br />eighty percent (808) of the median income <br />adjusted for family size for the purposes of <br />the IRCLHAProgram; <br />(c) A moderate -income person's annual adjusted <br />gross income may increase to an amount not to <br />exceed one hundred forty percent (1408) of one <br />hundred twenty percent (1208) of the me4ian <br />income adjusted for family size for the <br />purposes of the IRCLHAProgram; <br />ii. For owner -occupied units: The income of <br />eligible persons may increase without limit. <br />b. A minimum of thirty percent (308) of the housing <br />units receiving assistance shall be occupied by <br />households which are classified as very low-income <br />households. <br />C. A minimum of thirty percent (308) of the housing <br />units receiving assistance shall be occupied by <br />households which are classified as low-income <br />households. <br />d. Each individual IRCLHAProgram Assistance Strategy <br />shall further identify the income classification of <br />eligible persons who may occupy the housing unit. <br />(Please Section III.B. of this Plan.) <br />3. Income Classification Levels <br />The income levels utilized to identify very low-, low-, and <br />moderate -income eligible persons for participation in the <br />IRCLHAProgram shall be the gross income limits adjusted for <br />family size which are published annuall by the Florida <br />Housing Finance Agency. For the 1994-1995 Fiscal <br />Year, these adjusted income levels are: <br />
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