19E - CONSOLIDATED ANNUAL PERFO - Laserfiche WebLink

Home Browse Search

II. ANNUAL PERFORMANCE NARRATIVE STATEMENTS DEFINITIONS OF INCOMES At the outset it is helpful to define the income categories utilized throughout this document to report accomplishments. Income categories are based on the median income for Orange County, which equaled $74,200 in 2004. • Extremely low- income: household income that ranges from 0% - 30% of the county median income. • Very low- income: household income that ranges from 31% - 50% of the county median income. • Low- income: household income that ranges from 51% - 80% of the county median income. (Note: some HUD reports refer to all households with incomes under 80% of the county median income as Moderate - income.) 3. Moderate - income: Some funding sources (i.e., local Redevelopment funds) allow the City to assist households with higher incomes. These income limits are typically allowed up to 120% of the county median income. Occasionally, accomplishments may be referenced by the term "lower income" households or persons. This is a generic term used to reference households /persons with incomes that range from 0% to 80% of the county median income. In most situations, HUD funded programs are limited to persons with incomes of 80% of the county median income or less (adjusted for family size). The income limits listed below were utilized to qualify /report HUD funded activities during the latter half of the report period. 2004 HUD INCOME LIMITS One $15,900 $26,450 $41,600 Two $18,150 $30,250 $47,500 Three $20,400 $34,000 $53,400 Four $22,700 $37,800 $59,400 Five $24,500 $40,800 $64,100 Six $26,300 $43,850 $68,900 Seven $28,100 $46,850 $73,600 Eight + $29,950 $49,900 $78,400 7 9/9/04 19E -10