Sec.8-214h-8. Admission income limits

(a) The developer/Board of Directors shall develop and manage the project so that, insofar as is practical, the lowest income families continue to be served.

(b) The admission income limits for grant project(s) shall not exceed fifty percent (50%) of the area median income, adjusted for family size, as determined from time to time by the U.S. Department of Housing and Urban Development, unless otherwise approved by the Commissioner.

(c) The admission income limits for loan(s) or loan(s) and grant(s) combination project(s) shall not exceed one hundred percent (100%) of the area median income, adjusted for family size, determined from time to time, by the U.S. Department of Housing and Urban Development, unless otherwise approved by the Commissioner.

(d) If the adjusted gross income exceeds the admission income limit, the family shall be deemed ineligible for admission.

(Effective August 18, 1988)