N.J. Admin. Code § 5:80-8.2

Current through Register Vol. 56, No. 23, December 2, 2024

Section 5:80-8.2 - Maximum gross aggregate family income

(a) Admission to housing projects shall be limited to families whose gross aggregate family income at the time of admission does not exceed six times the annual rental or carrying charges approved by the Agency except for families with three or more dependents, whose incomes may be up to seven times the annual rental or carrying charges. Annual rental or carrying charges shall include the value or cost of heat, light, water, sewerage, parking facilities and cooking fuel that are provided to or incurred by the family in connection with its occupancy of a dwelling. In addition, carrying charges include rent normally associated with rental projects as well as other costs associated with cooperative apartments. There may also be included an amount equal to six percent of the original cash investment of the family in a mutual or cooperative housing project and the value or cost of repainting and replacing any fixtures or appliances.

(b) Notwithstanding (a) above, the Agency, in conjunction with any financing, may impose income limits at levels lower than those set forth above.

New Rule, R.1985 d.241, effective 5/20/1985.
See: 17 New Jersey Register 505(a), 17 New Jersey Register 1258(b).
Amended by R.1986 d.258, effective 7/7/1986.
See: 17 New Jersey Register 1620(a), 18 New Jersey Register 1454(b).
Recodified from section 1 and substantially amended.
Amended by R.1994 d.300, effective 6/20/1994.
See: 26 New Jersey Register 8(a), 26 New Jersey Register 2569(a).
Amended by R.2005 d.219, effective 7/5/2005.
See: 37 New Jersey Register 970(a), 37 New Jersey Register 2476(a).