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Conn. Gen. Stat. § 8-218

Citation
Conn. Gen. Stat. § 8-218
Jurisdiction
Connecticut (state)
Source
Official source

Full Text

1,053 chars
department adopted under this section shall apply only to that portion of the assisted property which corresponds to the proportion of the state assistance to the property's value. The number of income-limited housing units shall be determined by multiplying the amount of the housing assistance by the total number of housing units in the assisted housing and dividing the product by the fair market value of the property. The result shall be rounded to the lower whole number. Notwithstanding the provisions of any statute to the contrary or any regulation adopted under this section or section 8-37dd, or any other statute or regulation, limiting the income of occupants of housing assisted under this section and not located in a distressed municipality, the income of occupants of units assisted under this section and located in distressed municipalities may be two hundred fifty per cent or less of the area median income, adjusted for family size, as determined from time to time by the United States Department of Housing and Urban Development.