Affordable Housing Agreement. An Amended and Restated Housing Development Agreement, which provides for housing credits against Owner’s affordable housing obligations in Planning Area (PA) 12, was entered into between Owner and the City in September 2017.
Affordable Housing Agreement. Following review and recommendation of the Housing Commission and after a duly noticed public hearing, the City Council, by Resolution , approved an Affordable Housing Agreement (the “AHA”) covering the Project Site, attached as DA Exhibit D, and a related Inclusionary Unit Credit Agreement (the “IUCA”), attached as DA Exhibit E.
Affordable Housing Agreement. Following review and recommendation of the Housing Commission and after a duly noticed public hearing, the City Council, by Resolution No. “AHA”). , approved an Affordable Housing Agreement for the Project Site (the
Affordable Housing Agreement. Upon approval of any project proposing to provide affordable units on-site in compliance with this Section, and before any further action by the County concerning the project, including the recording of a final map, or the issuance of a Building Permit, the property owner shall execute an affordable housing agreement in compliance with Section 26.89.100 (Affordable Housing Agreements). The affordable housing agreement shall be recorded concurrently with the final map, or before the issuance of a Building Permit, whichever occurs first.
Affordable Housing Agreement. An Affordable Housing Agreement entered into between Purchaser and the City of El Monte that provides the following terms at a minimum: (a) Purchaser to develop the Property with four ownership housing units that will be sold to eligible low income households earning no more than 80% of the Los Angeles County AMI at an affordable housing cost as defined in the 24 CFR § 92.2; (b) qualified purchasers of the affordable units will be required to enter into agreements with City prior to the close of escrow of each unit ensuring the long-term affordability of the unit and subsequent transfer to low income households, as applicable; (c) owner-occupancy and maintenance requirements; and (d) restrictions on the Purchaser’s ability to transfer the Property (other than to qualified purchasers of affordable housing units) to ensure development with affordable housing (“Affordable Housing Agreement”).
Affordable Housing Agreement. An Affordable Housing Agreement entered into between Purchaser and the City of Pleasant Hill that provides the following terms at a minimum: (a) Purchaser to develop the Property with six or seven, dependent on the final land use approvals, single-family affordable units for transfer to low and moderate income households; (b) purchasers of the affordable units will be required to enter into agreements with City prior to the close of escrow of each unit ensuring the long-term affordability of the unit and subsequent transfer to low or moderate income households, as applicable; (c) owner-occupancy and maintenance requirements; and (d) restrictions on the Purchaser’s ability to transfer the Property to ensure development with affordable housing (“Affordable Housing Agreement”).
Affordable Housing Agreement. Buyer acknowledges that the Project and, thus, the Lot are subject to the Maui Xxxx 100 LLC Affordable Housing Agreement, dated December 29, 2006 and recorded in the Bureau as Document No. 2007-002482 (as it may be amended from time to time). (The capitalized terms used in this Section that are placed in quotations are not defined in this Agreement, but shall have the definitions given to them in the Affordable Housing Agreement.)
Affordable Housing Agreement. Chapter 9 of the General Ordinance, the Town’s Inclusionary Housing Ordinance, consistent with the goals set forth in the Town’s Housing Production Plan, generally requires that at least ten percent (10%) of the residential units at a multifamily rental development be dedicated to affordable housing units, which as applicable here (for a tenant in a rental unit), is defined as to households within incomes at or below sixty-five percent (65%) of Area Medium Income (“AMI”))20. Said Chapter 9 also requires that such units qualify for inclusion on the State’s Subsidized Housing Inventory (“SHI”). To qualify for the SHI, Applicant must execute an Affordable Housing Agreement with both the Town and the State’s Department of Housing and Community Development (“DHCD”), the purpose of which is to ensure that the affordable units are maintained in compliance with both Chapter 9 and the State’s requirements for inclusion on the SHI. The Redevelopment will include no less than 10% affordable housing units (31 units) affordable to households earning no more than 65% of AMI. In addition, the Redevelopment will provide an additional ten (10) more units (3% of the total residential units) that will be permanently designated as affordable and made available to households earning no more than 80% of AMI. These additional units will qualify as “affordable” for purposes of inclusion on the Town’s Subsidized Housing Inventory. The location and mix of these additional affordable units, as well as the location of the 31 affordable units will be subject to the approval of both the Town and the Commonwealth’s Department of Housing and Community Development (DHCD) to ensure they are evenly disbursed throughout the Redevelopment. As set forth in the LCP, the Town is experiencing a housing crisis and Downtown Hyannis, in particular, is an area that has a shortage of affordable year-round housing option for many of Cape Cod’s residents. In addition to creating affordable housing, the Redevelopment will prohibit short-term rentals and to the maximum extent permitted by law, will incorporate a local preference into the initial lottery for the affordable units. Conclusion: The Redevelopment will contribute to the extreme need for affordable year-round housing in the Downtown Hyannis area by supplying at least 31 affordable housing units consistent with the Town’s Inclusionary Housing Ordinance and an additional 10 units permanently designated as affordable.
Affordable Housing Agreement. Lender acknowledges that the Mortgaged Property is subject to a Declaration Regarding Affordability Plan dated February 12, 2004, and recorded in the Orange Land Records on February 18, 2004, in Volume 514 at Page 275, (the “Agreement”) in favor of the Orange Town Plan and Zoning Commission (the “City”). Borrower represents and warrants to Lender as follows:
Affordable Housing Agreement. The Parties shall enter into an affordable housing deed-restriction agreement to be finalized and recorded at the earlier of (a) the closing of CDSG’s purchase of the PUD portion of the Property or (b) issuance of the first building permit for the same.
