Agenda 02/13/2007 - Laserfiche WebLink

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100 . De - concentration · Family must purchase only a home that passes HQS inspection 6) The head of household and I or co - head must be currently employed on a full - time basis and have been continuously so employed during the year before commencement of homeowners hip assistance. Families in which the head of household or co - head is disabled or elderly are exempted from this requirement. Families that include a person with disabilities may request an exemption as a reasonable accommodation. 7) The annual ineome of the adult family members who will own the home must be equal to or exceed the federal minimum hourly wage multiplied by 2,000 hours. Welfare assistance will not be counted in determining annual income, except for households in which the head or co - head is elderly or disabled and households that include a disabled person other than head or co - head. ("Welfare assistance" includes federal housing assistance or the housing component of a welfare grant; Jobs and Family Services assistance; SSI that is subject to an income eligibility test; food stamps; general assistance or other assistance provided under a federal, state or program that provides assistance available to meet family living or housing expenses). Time Frame to Purchase a Home (24 CFR 982.626(b), CFR 982.629(a) An applicant will have a maximum of 90 days from the date of issuance of a voucher to find a home and enter into a Contract of Sale. If an applicant is unable to enter into a Contract of sale before the end of the initial 90 - day period, the applicant will be provided an extension of 90 days to either enter into a Contract of Sale or utilize the voucher to rent a unit. Any additional extension will be at the discretion of the MRHA Housing Coordinator. Portability (24 CFR 982.636) Families determined to be eligible for homeownership assistance may exercise the Homeownership Option outside of MRHA's jurisdiction if the receiving public housing