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<br />ßA.~~ . <br /> <br />LlHTC: (Federal) Low Income Housing Tax Credit. <br /> <br />Low Income: Households whose incomes do not exceed 80 percent of the median <br />income for the area, as determined by HUD with adjustments for smaller and larger <br />families, except that HUD may establish income ceilings higher or lower than 80 percent <br />of the median for the area on the basis of HUD's findings that such variations are <br />necessary because of prevailing levels of construction costs or fair market rents, or <br />unusually high or low family incomes. NOTE: HUD income limits are updated annually <br />and are available from local HUD offices for the appropriate jurisdictions. <br /> <br />#of <br />Persons <br /> <br />SAN MATEO COUNTY INCOME LIMITS <br /> <br />As of March 9, 2000 <br />Median Income = $74,900 <br />30% 50% <br />Extremely Very Low <br />Low <br /> <br />80% <br />Low <br /> <br /> <br />Middle Income: Households whose incomes are from 96 to 120 percent of the median <br />income for the area, as determined by HUD, with adjustments for smaller or larger <br />families, except that HUD may establish income ceilings higher or lower than 120 <br />percent of the median for the area on the basis of HUD's findings that such variations <br />are necessary because of prevailing levels of construction costs or fair market rents or <br />unusually high or low family incomes. <br /> <br />If income adjustments are made by HUD and the low income limit for the area is <br />set at higher or lower than 80 percent of median income, the middle income limits <br />must be adjusted by multiplying the adjusted low income limit by 1.5. Example: <br />With a median income for the area of $10,000 and a low-income limit adjusted by <br />HUD to $7,500, the adjusted middle income limit would be computed as: $7,500 <br />x 1.5 = $11,250 adjusted middle income limit. <br /> <br />Moderate Income: Households whose incomes are between 81 percent and 95 percent <br />of the median income for the area, as determined by HUD, with adjustments for smaller <br />or larger families, except that HUD may establish income ceilings higher or lower than <br />95 percent of the median for the area on the basis of HUD's findings that such variations <br />are necessary because of prevailing levels of constructions costs or fair market rents, or <br />unusually high or low family incomes. (This definition is different than that for the CDBG <br />Program). <br /> <br />$7,500 x 1.1875 = $8,906 adjusted moderate-income limit. <br /> <br />0-7 <br /> <br />7 <br />