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LMI Income Limits
<br /> I. OVERVIEW
<br /> Below is the Low and moderate income limits for Sherburne County. In order to qualify for the
<br /> Forgivable Loan program as outlined above, 51% of the full-time jobs created by the project need to be
<br /> filled by employees falling into the category in the table below. To calculate the income of the individual
<br /> or household:
<br /> 1. The Family's entire income must be counted.
<br /> 2. A family is all persons living in the same household who are related by blood,marriage,or adoption.
<br /> 3. Adult children who continue to live at home should be included in the entire family's income.
<br /> 4. A dependent child who is living outside of the home but continues to be claimed by the parent(s) as a
<br /> dependent on their taxes should include their parents'income along with theirs to make up the
<br /> family's income.
<br /> rt B _ '.: -' tit iteiv:t.i. , '...;,“ ;0:15 :al, ;,:: ..:l:, ,i:,,,,,,4,..;,. :.: ';',,.1.4 i,
<br /> Median - ,t '
<br /> res e , . ii 'e V® person ee tae .., ,
<br /> ii
<br /> ,,,.. '441.1" ,4*„4,,i I.,Y , 1:.Zilt . .it 4 '1', .1 ... 1,,,,% :, :;;:,-, ' .,', ',.: .2", , '
<br /> iii,
<br /> Sherburne (80%)
<br /> County $82,300 Income $45,100 $51,550 $58,000 $64,400 $69,600 $74,750 $79,900 $85,050
<br /> Limits
<br /> Forgivable Loan Policy and Application ► / • E / E 1 1 1
<br /> Page 18 of 20 NA E
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