Tenants' Council of Tiber Island-Carrollsburg Square v. James Lynn, Individually and in His Capacity as Secretary of Housing and Urbandevelopment, 497 F.2d 648 (1973)

Citation: Tenants' Council of Tiber Island-Carrollsburg Square v. James Lynn, Individually and in His Capacity as Secretary of Housing and Urbandevelopment, 497 F.2d 648 (1973)
Parent Document: Tenants' Council of Tiber Island-Carrollsburg Square v. James Lynn, Individually and in His Capacity as Secretary of Housing and Urbandevelopment, 497 F.2d 648 (1973)
Jurisdiction: United States (federal)
Effective Date: 1973-12-20
Original Source: https://www.courtlistener.com/opinion/319420/tenants-council-of-tiber-island-... ↗

Full Text

1,027 chars

Before FHA insurance is granted to a project, rental schedules must be approved by the Commissioner.7 The schedules consist of a maximum permissible rental ceiling and an initial rent schedule. Originally the FHA approved ceilings of $1,169,035 and $1,093,476, and initial rent schedules of $947,580 and $998,700, for Tiber Island and Carrollsburg Square respectively. These aggregate figures amounted to an average initial rental per unit of about $200 per month for the 811 units in the two combined projects, with a ceiling of approximately $230 per month.8 Using a conventional assumption that families spend about 20% of their income on rent,9 the income of the average family unit was envisioned as $13,800. In fact, incomes seem to be in a range from $12,000 to $45,000 per annum. In the case of family tenants, few have chil*651dren living with them and usually both husband and wife work. Typically the tenants are professionals — lawyers, doctors, economists — and their work is connected with the Federal Government.

Other Sections in This Document (87)

Full Text