Common use of Affordability requirements in general Clause in Contracts

Affordability requirements in general. The Recipient shall ensure the following affordability qualifications are met for Projects undergoing an Affordability Period: (a) Housing must meet the affordability requirements for not less than 10 years, beginning after Project Completion and at Initial Occupancy, or for Affordable Homeownership, beginning at the time of purchase by the qualifying Family. The Recipient shall ensure that one hundred percent (100%) of total Eligible Project Costs are attributable to Affordable Housing units leased or owned by Eligible-Income Families. (b) The Recipient shall ensure that, at a minimum, greater than fifty percent (50%) of the total Eligible Project Costs are attributable to Affordable Housing units that are leased or owned by Low-Income Families, (inclusive of Very Low-Income and Extremely Low- Income Families), as set forth in 12 C.F.R. § 1807.400 et seq.

Affordability requirements in general. The Recipient shall ensure the following affordability qualifications are met for Projects any project undergoing an Affordability Period and for each year that the Recipient has an Affordability Period in place (provided that Sections 5.1(c) and 5.1(d) shall only be required beginning after the end of the Investment Period:): (a) For each Affordable Housing must meet unit for which the affordability requirements for not less than 10 yearsCMF Award or associated Leverages Costs is used to finance or support, beginning after Project Completion and at Initial Occupancy, or for Affordable Homeownership, beginning at the time of purchase by the qualifying Family. The Recipient shall ensure that one hundred percent (100%) of total Eligible Project Costs are attributable to Affordable Housing units leased or owned by that meet the affordability qualifications for Eligible-Income Families. (b) The Recipient shall ensure that, at a minimum, greater than fifty percent (50%) of the total Eligible Project Costs are attributable to Affordable Housing units that are leased or owned by meet the affordability qualifications for Low-Income FamiliesIncome, (inclusive of Very Low-Income and or Extremely Low- Income Families), as set forth in 12 C.F.R. § 1807.400 et seq.

Affordability requirements in general. The Recipient shall ensure the following affordability qualifications are met for Projects undergoing an Affordability Period: (a) Housing must meet the affordability requirements for not less than 10 years, beginning after Project Completion and at Initial Occupancy, or for Affordable Homeownership, beginning at the time of purchase by the qualifying Family. The Recipient shall ensure that one hundred percent (100%) of total Eligible Project Costs are attributable to Affordable Housing units leased or owned by Eligible-Income Families. (b) The Recipient shall ensure that, at a minimum, greater than fifty percent (50%) of the total Eligible Project Costs are attributable to Affordable Housing units that are leased or owned by Low-Income Families, Families (inclusive of Very Low-Income and Extremely Low- Income Families), as set forth in 12 C.F.R. § 1807.400 et seq.