Orange County NC Website
Tf,r <br /> 24. NET FAMILY ASSETS. The value of equity in real property, savings, <br /> stocks, bonds, and other forms of capital investment. Furniture and <br /> automobiles are not included. <br /> 25. MEDICAL EXPENSES. Medical expenses which are to be anticipated and paid <br /> during the 12-month period for which the Annual Income is computed, and <br /> which are not covered by insurance (however, premiums for such insurance <br /> may be included as medical expenses) . <br /> 26. ANNUAL CONTRIBUTIONS CONTRACT. ("ACC") A written agreement between <br /> HUD and a PHA to provide annual contributions to the PHA to cover <br /> housing assistance payments and other expenses. <br /> 27. MINIMUM AND MAXIMUM RENTS. Families will pay not less than 15% of <br /> Adjusted Income and not more than 25% of Gross Income. <br /> 28. LEASE. A written agreement between an Owner and an Eligible Family <br /> for the leasing of an Existing Housing Unit in accordance with the <br /> Contract. <br /> 29. HOUSING QUALITY STANDARDS. Housing used under this program must meet <br /> the Performance Requirements and Acceptability Criteria as set forth <br /> in 882. 109, 24 CFR. <br /> 30. FINDERS-KEEPERS POLICY. A holder of a Certificate of Family Partici- <br /> pation shall be responsible fur finding an Existing Housing Unit suit- <br /> able to the holder's needs and desires in any area within the PHA's <br /> jurisdiction. (A holder of a Certificate may select the unit which <br /> the holder already occupies if the unit qualifies as Existing Housing) . <br /> 31. RECERTIFICATION. Annual review of a Family's income, composition and <br /> exceptional medical or other unusual expenses, <br />