Section 31.22. Income limits

The maximum annual family income limit for a moderate family occupying a rental unit permanently financed by the Agency is $18,000. This figure shall increase on each annual anniversary date of the effective date of this chapter in the same proportion as the increase in the Cost of Living Index, for Philadelphia, for the same time period, as published by the Department of Labor. Notwithstanding any provision of this subpart to the contrary, with respect to housing financed in whole or in part by a Federally-aided mortgage loan which is to provide housing for moderate and low income persons, the Agency’s actions in authorizing such mortgage loan will have the effect of adopting, as the Agency’s income limitations for initial occupancy of the housing project or part thereof, the income limitations for initial occupancy then provided in the Federal program pursuant to which the mortgage loan or part thereof qualifies as a Federally-aided mortgage.

Notation

Cross References

This section cited in 12 Pa. Code § 31.24 (relating to rental surcharges).