§ 17.5-103. Increases in income.

(a)

With respect to an 80 percent of AMI WFH rental unit, the household's annual income at the time of initial occupancy may not exceed 80 percent of the area's median income adjusted for family size. While occupying the WFH rental unit, if the income of the household increases (but does not increase to a level above 120 percent AMI), then the 80 percent unit would not need to be replaced by another comparable unit and the tenants rent is not adjusted. Once the tenant's income rises above the 120 percent AMI threshold, then the unit will be considered a 120 percent unit and the next available unit of the same bedroom size shall be rented to an 80 percent AMI household at the 80 percent rent referenced in section 17.5-102 (d)(2).

(b)

With respect to a 120 percent of AMI WFH rental unit, the household's annual income at the time of initial occupancy may not exceed 120 percent of the area's median income adjusted for family size. While occupying the WFH rental unit, if the income of the household increases (but does not increase to a level above 150 percent AMI), then the 120 percent unit would not need to be replaced by another comparable unit and the tenants rent is not adjusted. Once the tenant's income rises above the 150 percent AMI threshold, then the unit will be considered a market rate unit and the next available unit of the same bedroom size shall be rented to an 120 percent AMI household at the 120 percent rent referenced in section 17.5-102 (d)(2).

(Ord. No. 339-H, § 2, 8-23-2018)

Editor's note

Ord. No. 339-H, § 2, adopted August 23, 2018, renumbered § 17.5-103 as 17.5-104.