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7 $38,300 <br />8 $40,750 <br /> <br />* FY 1999 Section 8 hoome Limits <br /> <br />NOTE: Maximtun Income limits will be revised annually as income levels are released by HUE). <br /> <br /> For the purpose of this program, adjusted gross family income is considered all income <br /> from any source to any person residing in the applicant property. Income from wages, <br /> salaries, tips, alimony, investment income and interest, retirement, social security, SSL <br /> veterans administration, public assistance such as unemployment compensation, welfare, <br /> food stamps, aid-to-dependent children, and other sources of public assistance will be <br /> included in total annual income. <br /> <br />Exclusions illelude income of children under 18 years of age, foster care payments, <br />medical reimbursements, live.in aid, scholarships, hostile fire pay, training payments, <br />disabled PASS, gifts, and housing assistance payments. <br /> <br />a, <br /> <br />Income of an occupant who is 18 years and under or is a full time student and is <br />not the primary income recipient will be deducted from the gross income to <br />determine adjusted gross income. <br /> <br />Non-recurring income will be deducted from gross income to determine adjusted <br />gross income. Examples of this income are the sale of property, stock, one-time <br />survivor benefits, etc. <br /> <br />Additions and deletions from household income will be determined in accordance <br />with Section 8 guidelines including: <br /> <br />· $480 for each dependent under the age of 18 years of age; does not include <br /> head of household or spouse. <br />· $400 for any elderly family member (age 62 years of age or older). <br />· Medical expenses in excess of 3 percent of annual income for handicapped or <br /> elde~y households. <br /> <br />Both checking and savings bank accounts will be verified to determine if applicant <br />exceeds maximum cash assets of $25,000. Applicants whose income is between 50 <br />to 80 percent of the median income established for Marfinsvi~e by HUD Section 8 <br />Income Guidelines will be ineligible for rehabilitation assistance if they have in <br />excess of $25,000 in reserve, thereby permitting the structure to be rehabilitated <br />without CDBG assistance. <br /> <br /> <br />