Common use of Affordability Period Clause in Contracts

Affordability Period. Affordability Period means the duration of the affordable housing requirements which are set forth in this Agreement and the Regulatory Agreement. The project shall be subject to the requirements herein in perpetuity commencing upon the completion of the rehabilitation. For purposes of this Section, “in perpetuity” means the useful life of the Property with the land use controls imposed, but not less than fifty-five (55) years, which exceeds the HOME minimum affordability period of 15 years. The duration of this requirement shall be known as the “Affordability Period.”

Affordability Period. Affordability Period means the duration of the affordable housing requirements which are set forth in this Agreement and the Regulatory Agreement. The project shall be subject to the requirements herein in perpetuity commencing upon the completion recording date of the rehabilitationCertificate of Completion of the Project. For purposes of this Section, “in perpetuity” means the useful life of the Property with the land use controls imposed, but not less than fifty-five (55) years, which exceeds the HOME minimum affordability period requirement of 15 years. The duration of this requirement shall be known as the “Affordability Period.”

Affordability Period. Affordability Period means the duration of the affordable housing requirements which are set forth in this Agreement and the Regulatory Agreement. The project shall be subject to the requirements herein in perpetuity commencing upon the completion of the rehabilitationdevelopment. For purposes of this Section, “in perpetuity” means the useful life of the Property with the land use controls imposed, but not less than fifty-five (55) years, which exceeds the HOME minimum affordability period of 15 years. The duration of this requirement shall be known as the “Affordability Period.”

Affordability Period. Affordability Period means the duration of the affordable housing requirements which are set forth in this Agreement and the Regulatory Agreement. The project shall be subject to the requirements herein in perpetuity commencing upon the completion of the rehabilitation. For purposes of this Section, “in perpetuity” was defined with the last project approval in 2017 and means the useful life of the Property with the land use controls imposed, but not less than fifty-five (55) years, which exceeds the HOME minimum affordability period requirement of 15 years. The duration of this requirement shall be known as the “Affordability Period.”

Affordability Period. Affordability Period means the duration of the affordable housing requirements which are set forth in this Agreement and the Regulatory Agreement. The project shall be subject to the requirements herein in perpetuity commencing upon the completion of the rehabilitation. For purposes of this Section, “in perpetuity” was defined with the last project approval in 2015 and means the useful life of the Property with the land use controls imposed, but not less than fifty-five (55) years, which exceeds the HOME minimum affordability period requirement of 15 years. The duration of this requirement shall be known as the “Affordability Period.”

Affordability Period. Affordability Period means the duration of the affordable housing requirements which are set forth in this Agreement and the Regulatory Agreement. The project shall be subject to the requirements herein in perpetuity commencing upon the completion of the rehabilitation. For purposes of this Section, “in perpetuity” means the useful life of the Property with the land use controls imposed, but not less than fifty-five (55) years, which exceeds the HOME minimum affordability period of 15 years. The duration of this requirement shall be known as the “Affordability Period.”