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4900.2804 REQUIRED OCCUPANCY.

The dwelling units developed with loan funds from a rental housing program for individuals must be occupied by individuals whose adjusted income at the time of the initial occupancy does not exceed 30 percent of the area median income, with the area median income defined as: the greater of the county median income or the Minnesota nonmetro median average as either is defined by the United States Department of Housing and Urban Development.

Statutory Authority:

MS s 462A.06

History:

15 SR 12

Published Electronically:

June 11, 2008

Official Publication of the State of Minnesota
Revisor of Statutes