§ 74-402. Affordable housing definitions.

The following sets forth the applicable definitions for affordable housing dwelling units:

(a)

"Extremely low income households" means households whose incomes do not exceed 30 percent of the median income for the area as determined by the Secretary of the U.S. Department of Housing and Urban Development.

(b)

"Very low income households" means households whose incomes do not exceed 50 percent of the median income for the area as determined by the Secretary of the U.S. Department of Housing and Urban Development.

(c)

"Low income households" means households whose incomes are more than 50 percent but do not exceed 80 percent of the median income for the area as determined by the Secretary of the U.S. Department of Housing and Urban Development.

(d)

"Moderate income households" means whose incomes are more than 80 percent but do not exceed 120 percent of the median income for the area as determined by the Secretary of the U.S. Department of Housing and Urban Development.

(Ord. No. 01-13, § 1, 3-13-01; Ord. No. 02-34, § 3, 6-25-02; Ord. No. 2005-40, § 4; Ord. No. 2018-28, § 2)