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FOR COMPLETION BY DEVELOPER ONLY: <br />1. Calculation of eligible income: <br />(a) Enter amount of income for entire household from section 3: <br /> <br />(b) Enter total earnings on assets from section 7: <br /> <br />(c) Multiply the amount entered from section 7 times the current passbook savings rate to <br />determine what the total annual earnings on the amount would be if invested in passbook savings: <br /> <br />(d) Enter the greater of the amount calculated under (b) or (c) above: <br /> <br />2. TOTAL ELIGIBLE INCOME (Line 1(a) plus line 1(d): <br /> <br />3. The amount entered in 2): <br />_ Qualifies the applicant(s) as aLow-Income <br />Qualifies the applicant(s) as aModerate-Income <br />_ Does not qualify the applicant(s) as a Moderate or Low-Income <br />4. Method used to verify income: <br />Employer income verification. <br />Social Security Administration verification <br />Department of Social Services verification <br />Copies of tax returns. <br />Other <br />