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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 /> FY 20154 FY 20135 <br /> Income Median Income 1 person 2 person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person <br /> Limit Income Limit <br /> Area Category <br /> Low <br /> Sherburne $92-,3008 (80%) $599,0992 $654,840 $Fi971140 $8173,360 $5 93986 <br /> Coup 6 600 Income $ 100 $524 Cr550 50 0 0 $764 350 0900 <br /> Limits <br /> Forgivable Loan Policy and Application P O N E R E U 9 1 <br /> Page 18 of 20 INAWRE <br />