With relation to this article:
(a) Qualified property owner means any person owning residential property who meets the assets test and has an annual income equal to or less than eighty (80) percent of the poverty income levels set forth in the poverty guidelines chart established by the Community Services Administration, annually published in the Federal Register, in effect at the time of application. However, income itself shall be measured by the definition contained in subsection (b) of this section. Any person having a beneficial interest in benefited property may qualify for the sidewalk replacement financial assistance program.
(b) Income means the total cash receipts to the residential property owner and spouse after taxes from all sources. These sources include money, wages and salaries after any deductions required by law, but not including food or rent in lieu of wages. They include receipts from self-employment or from one's own farm or business after deductions for business or farm expenses. They include regular payments from public assistance, social security, unemployment and workmen's compensation, strike benefits from union funds, veterans benefits, training stipends, alimony and military family allotments or other regular support from an absent family member or someone not living in the household; government employee pensions, private pensions and regular insurance or annuity payments; and income from dividends, interest, rents, royalties or income from estates and trusts. For eligibility purposes, income does not refer to the following money receipts: any assets drawn down as withdrawals from a bank, sale of property, house or car, tax refunds, gifts, one-time insurance payments or compensation for injury; also to be disregarded is noncash income, such as the bonus value of food and fuel produced and consumed on farms and the imputed value of rent from owner occupied farm or nonfarm housing.
(c) Assets test means that any person having assets in excess of either:
(i) Five thousand dollars ($5,000.00) in liquid assets such as bank accounts, savings, certificates of deposits, stocks, bonds, etc.; or
(ii) Five thousand dollars ($5,000.00) in equity in assessed value of nonhomestead property;
shall be ineligible to participate in the sidewalk replacement financial assistance program, notwithstanding that he meets the income level qualifications set forth in this section. However, motor vehicles for personal use, household furnishing and the benefited property itself, as well as buildings located thereon, shall not be included in computing assets.
(Ord. No. 252-90, § 1, 11-29-90; Ord. No. 20-98, § 1, 1-22-98; Ord. No. 101-2022 , § 4, 9-22-22)