Affordability. (a) Throughout the term of this Agreement, each Low and Moderate Income Unit will be rented for no more than the rental rates set forth herein to an Eligible Tenant. An Eligible Tenant is a Family whose annual income does not exceed eighty percent (80%) of the Area median income adjusted for family size as determined by the U.S. Department of Housing and Urban Development (“HUD”). A “
Affordability. While AECL’s compensation systems will be designed around the first three principles, from time to time financial limitations may restrict the Company’s ability to make changes consistent with the first three principles. However, the Company would not, by this, jeopardize its long term level of competitiveness and its ability to attract and retain needed people. It is also recognized by the Company that Federal Government programs may impact on the its ability to design or manage its compensation program in a manner consistent with the first three principles.
Affordability. LHA will ensure affordability by monitoring the lease for the HOME-assisted units. The affordability period will be equal to the lease period. The level of assistance provided will be determined based on the same payment requirements used in LHA’s Housing Choice Voucher Program. Assisted households will pay 30% of their adjusted gross income for rent and utility allowances. A copy of the policy that determines the amount to be paid by individual tenants for rent and utilities will be retained at LHA. The payment standard for the level of rent paid will be equal to the Housing Choice Voucher Program’s Voucher Payment Standard, not to exceed HOME Rents, as determined by HUD. Exception rents equal to 110% of the Fair Market Rents may be approved for up to 20% of the units leased under this program. All rent increases for any units under this program must be approved by LHA. The standards for determining the number of bedrooms that a household is eligible to lease will be the same standards as currently used by LHA for the Housing Choice Voucher Program. A written copy of these standards shall be retained at LHA.
Affordability. Applies to activities that provide affordability in a variety of ways. It can include the creation or maintenance of affordable housing, basic infrastructure hookups, or services such as transportation or day care.
Affordability. Funds provided under this Agreement must meet the affordability requirement of 24 CFR Part 92 and the HOME rules as applicable. The City shall reduce HOME investment amount to be recaptured on a pro-rata basis for the time the unit is in compliance with 24 CFR 92 and the HOME rules as applicable.
Affordability. Landowner shall meet the requirements of the County’s affordable housing ordinance for the CCRC units through the payment of an amount equivalent to the in-lieu fee determined in accordance with Napa County Zoning Code Section 18.107.090 in effect as of the applicable payment date. For purposes of calculating the in-lieu fee applicable to the CCRC, the gross square foot of residential floor area shall include only the gross square footage of rooms that are designed or used for living by one or more occupants and that contain a sleeping unit, as defined by the California Building Code, whether or not the unit contains provisions for sanitation or kitchen facilities, and shall not include common areas.
Affordability. The Homes shall be designed and constructed to provide affordable housing options to homebuyers earning 80% to 120% of the Area Median Income (AMI) for Wake County (each, a “Qualified Homebuyer” and collectively, the “Qualified Homebuyers”), as defined by the U.S. Department of Housing and Urban Development (HUD). Each Home will be listed for sale at an initial market value between One Hundred Eighty Thousand Dollars ($180,000.00) and Two Hundred Twenty Thousand Dollars ($220,000.00) (each Home price, a “Target Price” and collectively, the “Target Price Range”). The Target Price will be based on the selected floor plan and use of standard materials (the “Plans and Specifications”). Upon completion of the Plans and Specifications by the Developer, the Plans and Specifications shall be presented to the Town for approval, such approval not to be unreasonably withheld or delayed. The Target Price will also include any appliances, including but not limited to, refrigerator, stove, oven, microwave, and dishwasher. Any modifications or additions to the Plans and Specifications or standard appliances must first be approved in writing by the Town, such approval not to be unreasonably withheld or delayed.
Affordability. 10.1 All applicants will be provided with a financial assessment to ensure that they understand both the care and support and tenancy related costs associated with their tenancy at Tatton Gardens. Chorley Council reserves the right to disqualify an application based on affordability.
Affordability. While affordability is an important factor in student housing, students are not guaranteed to be assigned to a room at the lowest price point, even when requested, when demand for such a space exceeds availability, or when other preferences noted in the application indicate an assignment to more expensive housing is appropriate to accommodate the Studentʼs preferences. The Student agrees to accept an assignment to the space assigned, and to make payment according to the published rate for the assigned room. The Student must communicate any concerns about, or problems related to, the affordability of the assigned space and address those concerns prior to move-in.
Affordability. The DEVELOPER shall comply with all income determinations and affordability requirements of the HOME Program as set forth in HUD Regulations 24 CFR 92.203 or 92.254, as applicable. The DEVELOPER shall determine each family’s income eligibility by determining the family’s annual income in accordance with the Part 5 (Section 8) methodology allowed in 24 CFR 92.203. The DEVELOPER is not required to re-examine the family’s income at the time the HOME assistance is provided, unless more than six (6) months has elapsed since the DEVELOPER determined that the family qualified as income eligible. The maximum purchase price shall not exceed $190,152, which is 95% of the median purchase price for the metropolitan area as defined by the Single Family Mortgage Limits under Section 203(b) of the National Housing Act. The project shall be single-family housing, which includes one (1) to four (4) family residence or condominium unit. The HOME-assisted housing shall be the principal residence of the qualified income eligible homebuyer from the date of initial occupancy (loan closing for purchase of the property) and shall remain the principal residence of the family for a period of fifteen years from the date of project completion (the Affordability Period). For purposes of this AGREEMENT, project completion means that all necessary title transfer requirements to the DEVELOPER have been performed; construction has been completed; the project complies with the requirements of 24 CFR Part 92 (including the property standards under 24 CFR 92.251); the final drawdown has been disbursed for the project; the DEVELOPER has submitted all necessary demographic and financial information to the GRANTEE in the form of the Activity Completion Report provided in “Attachment 7”; and the project completion information has been entered in the integrated disbursement and information system (IDIS) established by HUD. The affordability requirements as listed in Section 24 CFR 92.254(a) (4) apply without regard to the term of any loan or mortgage or the transfer of ownership. The affordability requirements shall be imposed by deed restrictions, covenants running with the land or other mechanism approved by HUD, except that the affordability restrictions may terminate upon foreclosure or transfer in lieu of foreclosure. Said restrictions shall include that The GRANTOR may use purchase options, rights of first refusal or other preemptive rights to purchase the housing before foreclosure or deed...
