Common use of Affordability Requirements Clause in Contracts

Affordability Requirements. All requirements of this Section 2 shall apply for the entirety of the Affordability Period for each Phase. Owner agrees to the following: a. The Residential Rental Dwelling Units shall be Actively Marketed for lease to Income Eligible Residents. The income limits and rent limits will be adjusted annually according to the HUD published limits. b. The Inclusionary Housing Units shall be similar in construction and appearance (e.g., square footage, type of appliances, materials used for countertops, flooring, etc.) to the market rate units of the Development and shall be interspersed throughout the Project.

Affordability Requirements. All requirements of this Section 2 shall apply for the entirety of the Affordability Period for each Phase. Owner agrees to the following: a. The Residential Rental Dwelling Units shall be Actively Marketed for lease to Income Eligible Residents. The income limits and rent limits will be adjusted annually according to the HUD published limits. b. The Inclusionary Housing Units shall be similar in construction and appearance (e.g., square footage, type of appliances, materials used for countertops, flooring, etc.) to the market rate units of the Development Project and shall be interspersed throughout the Project.

Affordability Requirements. All requirements of this Section 2 shall apply for the entirety of the Affordability Period for each Phase. Owner agrees to the following: a. The Residential Rental Dwelling Units shall be Actively Marketed for lease to Income Eligible Residents. The income limits and rent limits will be adjusted annually according to the HUD published limits. b. The Inclusionary Housing Units shall be similar in construction and appearance (e.g., square footage, type of appliances, materials used for countertops, flooring, etc.) to the market rate units of the Development DevelopmentProject and shall be interspersed throughout the Project.