What are LI areas?
LI areas are defined by statute, and include geographic areas that fall within the following descriptions: · census tracts or equivalent county divisions with a poverty rate of 20 percent or more; · census tracts or equivalent county divisions located within a metropolitan area, and that qualify for the Low Income Housing Tax Credit (i.e., in which 50 percent or more of the households have an income below 60 percent of the area median gross income); · census tracts or equivalent county divisions not located within a metropolitan area, and which have a median household income that does not exceed 80 percent of the statewide median household income; · a HUBZone; · an Urban Empowerment Zone (EZ) or Urban Enterprise Community (EC); or · a Rural EZ or Rural EC.
