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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 2015 <br />Income <br />Limit <br />Li <br />Area <br />Me <br />FY 2015 <br />I person <br />2 person <br />3 Person <br />4 Person <br />5 Person <br />6 Person <br />7 Person <br />8 Person <br />Income <br />Income <br />Limit <br />Cateeory <br />Sherburne <br />$86,600 <br />Low <br />m <br />Limits <br />$46,100 <br />$52,650 <br />$59,250 <br />$65,800 <br />$71,100 <br />$76,350 <br />$81,600 <br />$86,900 <br />Countyincome <br />Forgivable Loan Policy and Application P 0 W E A E o 8 r <br />Page 18 of 20 NATU <br />