AMGI

AcronymDefinition
AMGIAmerican Mold Guard, Inc. (Tustin, CA)
AMGIArea Median Gross Income (low housing tax credit units tenancy)
AMGIAdvanced Marketing Group Inc. (Austin, TX)
AMGIAlaska Mountain Guides International, Inc. (est. 1992; Haines, AK)
AMGIAgencia Mutua para la Garantía de las Inversiones
AMGIAdvanced Missions Group International (intelligence and security firm)
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References in periodicals archive ?
(3q) In the case of a low-income housing project for which the 15% of the low-income units are occupied by individuals whose income is 40% or less of AMGI and an irrevocable election is made, this threshold is increased to 170%, but the income limitation for a new resident occupying a unit of comparable or smaller size cannot exceed 40% of AMGI.
In New York City there is an exemption which allows owners to set aside 25% of the units to tenants with no more than 60% of AMGI.
These tests require reserving a minimum of either (1) 20% of the units for residents whose income does not exceed 50% of AMGI or (2) 40% of the units for residents whose income does not exceed 60% of AMGI.
For example, one LIHTC property in Houston, Texas, contains approximately 200 units and has been allocated tax credits based on a commitment that a minimum of 85.91% of its units to occupancy by individuals or families with incomes 60% or less of AMGI. For this property, 172 units out of the 200 (200 x 85.91% = 171.8) must be occupied by low-income residents.
42 and also sets the maximum allowable area median gross income (AMGI) for the determination of income and rent restrictions.