§ 26-2601 Definitions.
AC § 26-2601
For the purposes of this chapter, the following terms have the following meanings: Affordable housing unit. The term "affordable housing unit" means "affordable housing unit" as defined in section 26-2201. Area median income. The term "area median income" means the income limits as defined annually by the United States department of housing and urban development (HUD) for the New York, NY HUD Metro FMR Area (HMFA), as established in section 3 of the housing act of 1937, as amended. Department. The term "department" means the department of housing preservation and development. Extremely low income household. The term "extremely low income household" means a household that has an income of no more than 30 percent of the area median income, adjusted for the size of the household. Low income household. The term "low income household" means a household that has an income of more than 50 percent of the area median income but no more than 80 percent of the area median income, adjusted for the size of the household. Middle income household. The term "middle income household" means a household that has an income of more than 120 percent of the area median income but no more than 165 percent of the area median income, adjusted for the size of the household. Moderate income household. The term "moderate income household" means a household that has an income of more than 80 percent of the area median income but no more than 120 percent of the area median income, adjusted for the size of the household. Very low income household. The term "very low income household" means a household that has an income of more than 30 percent of the area median income but no more than 50 percent of the area median income, adjusted for the size of the household. (L.L. 2019/217, 12/15/2019, eff. 12/15/2019)
