QUALIFICATIONS:

Applicants for elderly housing must meet the following yearly  Very Low income limits: 

                        Public Housing Income Limits effective 3/8/06

                                                    1 Person                                           2 Persons

Very Low Income	$25,000	$28,550
Low Income**	$39,950	$45,650

** Please note the Housing Authority may consider applicants with a Low Income limit versus a Very Low Income only in very specific instances.  Please contact the office for details.

WHAT IS INCOME?

Annual income includes all money received on a regular monthly basis, such as , but not limited to:

1.      Social Security income

2.      Interest  income from investments (Money Market, CD, stocks, bonds)not the principal amount of investment

3.      If property is owned and rented out, the rental income is included

HOW IS RENT CALCULATED?

Rent is calculated based on thirty (30%) percent of the gross income.  Once an applicant has been determined to be income eligible, (meets the income limits) it is then determined what deductions might apply.