Mich. Admin. Code R. 125.105 - Income limitations
Rule 105.
(1) For a
household to be considered eligible for initial occupancy in a housing project
or housing unit financed by the authority, that household's income shall not
exceed the following household income limitations:
(a) Unless otherwise permitted by the act,
for housing, other than single family housing units, that has been financed by
the proceeds of authority bonds that have been delivered before June 9, 1977,
the effective date of certain emergency rules that temporarily effectuated the
provisions of subdivisions (b) and (c) of this subrule, a household shall not
have an adjusted household income of more than $12,000.00 plus $500.00 for each
member of the household in addition to the head of the household and his or her
spouse; provided, however, that the authority, by resolution, may determine,
with respect to a particular housing project, that 20% of the dwelling units in
that project shall be available for occupancy by households having adjusted
household incomes of not more than 125% of that established in this subrule.
The resolution must include determinations by the authority that the project
could not be marketed successfully without the higher income limit and that the
project complies with either of the following:
(i) It is located in a city, other than a
central city, with a per capita personal income less than the per capita
personal income for this state.
(ii) It is located elsewhere and the number
of units for households with incomes eligible for public housing or a program
equivalent is at least equal to the number of units for households with incomes
between the 100% and 125% limits. The $12,000.00 amount established in this
subrule is automatically increased in accordance with the following formula:
($12,000.00) + ($12,000.00 x .07 x n) where n is the number of complete years elapsed since January 1, 1973.
(b) Unless otherwise permitted by the act,
for housing, other than single- family housing units, that has been financed
before May 1, 1984, and that has not been financed by proceeds of authority
bonds that have been delivered before June 9, 1977, a household shall not have
a gross income of more than $28,000.00, which is the estimated median family
income in this state, provided, however, in the case of shared housing, a gross
income limit of $15,000.00 is applied separately to each household assigned
separate sleeping and bathroom facilities, notwithstanding the sharing of other
living space.
(c) For all
single-family housing units, a household shall not have a gross income in
excess of that permitted in the act.
(d) Notwithstanding the provisions of
subdivisions (a), (b), and (c) of this subrule, but subject to the act, a
household may have a gross income up to that established pursuant to the
following formula: 1.5 x a x 1.07n, where a is the median family income for the
county in which the proposed housing is to be located, as identified in the
publication entitled "1969 and Estimated 1977 Decile Distributions of Family
Income by SMSA's and Non-Metropolitan Counties," prepared by the United States
Department of Housing and Urban Development, Office of Economic Affairs,
Economic and Market Analysis Division, June 1, 1977, and where n is the number
of complete years elapsed since June 1, 1977, if the authority, by resolution,
makes all of the following determinations:
(i)
The economic integration encouraged by the higher income limits promotes the
financial and social stability of housing financed or to be financed by the
authority.
(ii) Private enterprise
has failed to provide a substantial supply of adequate, safe, and sanitary
dwellings in the area of the housing proposed for occupancy by households that
qualify for assistance pursuant to this subdivision within the financial means
of, and suitable for, such households.
(iii) The housing is located in an area in a
central city that meets the criterion set forth in subparagraph (ii) of this
subdivision.
(e)
Notwithstanding the provisions of subdivisions (a), (b), and (d) of this
subrule, a household may have a gross income up to the income limits set forth
in sections
44(1)(a)(iv),
44(1)(a)(v), and
44(1)(b), MCL
125.1444, if the authority, by
resolution, determines that the higher income limits promote the authority's
ability to preserve the low-income occupancy of the housing project.
(f) For housing, other than single-family
housing units, that has been financed on or after May 1, 1984, a household
shall not have a gross income in excess of that permitted in the
act.
(2) If a household
income limitation is a requirement for an assumption of a mortgage on a
single-family housing unit, then the household income limitation for a
household to be considered eligible to assume a mortgage on a single-family
housing unit must be the highest household income limitation ever established
in subrule (1)(c) of this rule.
(3)
If federal subsidy payments are made on behalf of occupants of
authority-financed dwelling units or housing units, then the income limitations
established in this rule are superseded by federal laws and regulations
applicable with respect to those applicants.
(4) If the program providing the funds for a
loan or grant is subject to laws, regulations, rules, or other requirements
that have particular income or other programmatic restrictions, or if the
entity providing the funds for a loan or grant has particular income or other
programmatic restrictions, then the authority may elect to apply some or all of
these restrictions, instead of those that would otherwise be applicable
pursuant to this rule.
(5) Subrule
(1) of this rule does not apply to households applying for a property
improvement loan pursuant to part 8 of these rules.
(6) The income limitation contained in
subrules (1) and (2) of this rule is subject to state and federal laws which
may establish income limitations as a prerequisite to obtaining tax-exempt
status of authority notes and bonds.
Notes
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