low- or moderate-income neighborhood

(13) Definitions For purposes of this subsection— (A) Low- or moderate-income household The term “low- or moderate-income household” means any household which has an income of 80 percent or less of the area median. (B) Very low-income household The term “very low-income household” means any household that has an income of 50 percent or less of the area median. (C) Low- or moderate-income neighborhood The term “low- or moderate-income neighborhood” means any neighborhood in which 51 percent or more of the households are low- or moderate-income households. (D) Affordable for very-low income households For purposes of paragraph (2)(B) the term “affordable for very-low income households” means that rents charged to tenants for units made available for occupancy by low-income families shall not exceed 30 percent of the adjusted income of a family whose income equals 50 percent of the income for the area (as determined by the Secretary of Housing and Urban Development) with adjustment for family size.

Source

12 USC § 1430(j)(13)


Scoping language

For purposes of this subsection
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