Laserfiche WebLink
TheCityofSanMarcos,TexasSection3IncomeLimitsΑEffectiveApril18,2022 <br />Section3BusinessConcernDefinition: <br />ͻ{ĻĭƷźƚƓ3Business/ƚƓĭĻƩƓͼmeansabusinessconcernmeetingatleastoneofthefollowingcriteria,documentedwithin <br />thelastsixmonthperiod: <br />Θ Thebusinessisatleast51percentownedandcontrolledbyloworverylowincomepersons;or <br />Θ Thebusinessisatleast51percentownedandcontrolledbycurrentpublichousingresidentsorresidents <br />whocurrentlyliveinSection8assistedhousing;or <br />Θ Morethan75percentofthelaborhoursperformedforthebusinessoverthepriorthreemonthperiod <br />wereperformedbySection3workers. <br />ThestatusofaSection3businessconcernshallnotbenegativelyaffectedbyapriorarrestorconvictionofitsowner(s) <br />oremployees. <br />EligibilityGuidelines: <br />TheǞƚƩƉĻƩ͸ƭincomemustbeatorbelowtheamountprovidedbelowforanindividual(householdof1)regardlessof <br />actualhouseholdsize. <br />ExtremelyLowIncome(30%)$23,200 <br />VeryLowIncome(50%)$38,650 <br />LowIncome(80%)$61,800 <br />Section3WorkerDefinition: <br />Θ Aloworverylowincomeresident(theǞƚƩƉĻƩ͸ƭincomeforthepreviousorannualizedcalendaryearis <br />belowtheincomelimitestablishedbyHUD);or <br />Θ EmployedbyaSection3businessconcern;or <br />Θ AYouthBuildparticipant. <br />TargetedSection3WorkerDefinition(forhousingandcommunitydevelopment): <br />ASection3Workerwhois: <br />Θ EmployedbyaSection3businessconcernor <br />Θ Currentlymeetsorwhenhiredmetatleastoneofthefollowingcategoriesasdocumentedwithinthepast <br />fiveyears: <br />o Livingwithintheserviceareaortheneighborhoodoftheproject,asdefinedin24CFR75.5 <br />o AYouthBuildparticipant. <br />LastUpdated:12/20/21CertificationFormFourPage2of2 <br />Page 39 of 44 <br /> <br />