Gross Median Income” or for a Project, the average area gross “Average “AGMI” means, median income level(s) at which units are set aside, weighted by the number of units set aside at each income level. AGMI calculations are rounded to the nearest whole number. Market Rate Units will be treated as if they were set aside at 100 percent of Area Gross Median Income. An example of the calculation of AGMI in a 60-unit Project with no management employee units is as follows: 25 percent of the units are Set Aside at 50 percent of Area Gross Median Income; and 50 percent of the units are Set Aside at 60 percent of Area Gross Median Income; and 25 percent of the units are Market Rate. The AGMI calculation would be as follows: Percent of Set Aside Income Level Weighted Total Units (As a % of Median) Average 25% X 50% = 13% 50% X 60% = 30% 25% X 100% = 25% Total AGMI: AGMI for Scoring 68% Units to be provided for management or maintenance staff rent free should not be included in the calculation. Gross Median Rent” or means, for a Project, the average area gross “Average “AGMR” median rent level(s) at which units are Set Aside, weighted by the number of units Set Aside at each rent level. AGMR calculations are rounded to the nearest whole number at each stage of the calculation. Market Rate Units will be treated as if they were Set Aside at 100 percent of Area Gross Median Income. An example of the calculation of AGMR in a 60-unit Project with no management employee units is as follows: 25 percent of the units are rent restricted at 50 percent of Area Gross Median Income; and 50 percent of the units are rent restricted at 60 percent of Area Gross Median Income; and 25 percent of the units are Market Rate (not rent restricted). The AGMR calculation would be as follows: Percent of Rent Restricted Level Weighted Total Units (As a % of Median Income) Average
“Average Gross Median Income” or “AGMI” means, for a Project, the average area gross median income level(s) at which units are set aside, weighted by the number of units set aside at each income level. AGMI calculations are rounded to the nearest whole number. Market Rate Units will be treated as if they were set aside at 100 percent of Area Gross Median Income. An example of the calculation of AGMI in a 60-unit Project with no management employee units is as follows: 25 percent of the units are Set Aside at 50 percent of Area Gross Median Income; and 50 percent of the units are Set Aside at 60 percent of Area Gross Median Income; and 25 percent of the units are Market Rate. The AGMI calculation would be as follows: Percent of Set Aside Income Level Weighted Total Units (As a % of Median) Average 25% X 50% = 13% 50% X 60% = 30% 25% X 100% = 25% Total AGMI: AGMI for Scoring 68% Units to be provided for management or maintenance staff rent free should not be included in the calculation. “Average Gross Median Rent” or “AGMR” means, for a Project, the average area gross median rent level(s) at which units are Set Aside, weighted by the number of units Set Aside at each rent level. AGMR calculations are rounded to the nearest whole number at each stage of the calculation. Market Rate Units will be treated as if they were Set Aside at 100 percent of Area Gross Median Income. An example of the calculation of AGMR in a 60-unit Project with no management employee units is as follows: 25 percent of the units are rent restricted at 50 percent of Area Gross Median Income; and 50 percent of the units are rent restricted at 60 percent of Area Gross Median Income; and 25 percent of the units are Market Rate (not rent restricted). The AGMR calculation would be as follows: Percent of Rent Restricted Level Weighted Total Units (As a % of Median Income) Average
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