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APPENDIX -DEFINITIONS <br />HUD Project-Based Section 8  A federal government program that provides rental housing for <br />very low-income families, the elderly, and the disabled in privately owned and managed rental <br />units. The owner reserves some or all of the units in a buildin <br />government guarantee to make up the difference between the tenan <br />rent. A tenant who leaves a subsidized project will lose access to the project-based subsidy. <br />HUD Section 202 Program  Federal program that provides direct capital assistance and <br />operating or rental assistance to finance housing designed for o <br />who have incomes not exceeding 50% of Area Median Income. <br />HUD Section 811 Program  Federal program that provides direct capital assistance and <br />operating or rental assistance to finance housing designed for o <br />disabilities who have incomes not exceeding 50% Area Median Inco <br />HUD Section 236 ProgramFederal program that provides interest reduction payments for <br />loans which finance housing targeted to households with income n <br />Median Income who pay rent equal to the greater or market rate o <br />income. <br />Income limits  Maximum households income by a designed geographic area, adjusted fo <br />household size and expressed as a percentage of the Area Median <br />establishing an upper limit for eligibility for a specific housi <br />MAXIMUM RENT BASED ON HOUSEHOLD SIZE AND AREA MEDIAN INCOME <br />HENDRICKS COUNTY - 2015 <br />Maximum Rent Based on Household Size (@30% of Income) <br />HHD Size30%50%60%80%100%120% <br />1 <br />Unit Type <br />MinMaxMin. Max.Min. Max.Min. Max.Min. Max.Min. Max.Min. Max. <br />Studio11$366-$366$610-$610$732-$732$976-$976$1,220-$1,220$1,464-$1,464 <br />1BR 12$366-$419$610-$698$732-$837$976-$1,116$1,220-$1,395$1,464-$1,674 <br />2BR 24$419-$523$698-$871$837-$1,046$1,116-$1,394$1,395-$1,743$1,674-$2,091 <br />3BR36$470-$607$784-$1,011$941-$1,214$1,254-$1,618$1,568-$2,023$1,881-$2,427 <br />4BR48$523-$690$871-$1,150$1,046-$1,380$1,394-$1,840$1,743-$2,300$2,091-$2,760 <br />1 <br />One-bedroom plus den and two-bedroom plus den units are classifi <br />closet. <br />Note: 4-person Hendricks County AMI is $69,700 (2015) <br />Sources: HUD, Novogradac, Maxfield Research Inc. <br />Inflow/Outflow  The Inflow/Outflow Analysis generates results showing the count <br />characteristics of worker flows in to, out of, and within the de <br />Low-Income  Person or household with gross household incomes below 80% of Ar <br />Income, adjusted for household size. <br />Low-Income Housing Tax Credit A program aimed to generate equity for investment in <br />affordable rental housing authorized pursuant to Section 42 of t <br />program requires that a certain percentage of units built be restricted for occupancy to <br />119 <br />MAXFIELD RESEARCH & CONSULTING, LLC <br /> <br />