A. Area median income or AMI means the area median income as determined by the most recent United States Department of Housing and Urban Development for the Bend Metropolitan Statistical Area at the time of the household’s application for housing.

B. Low-income person or persons means, for the initial year that persons occupy property for which an application for exemption is filed, households with income at or below 60 percent of AMI, and for every subsequent consecutive year that the persons occupy the property, income at or below 80 percent of AMI; and, in cases where an approved low income housing tax credit (LIHTC) development is using income averaging as approved by Oregon Housing and Community Services, means households with income at or below 80 percent AMI. [Ord. NS-2446, 2022]