Affordable Housing Component Clause Samples

The Affordable Housing Component clause requires a portion of a development project to be designated for affordable housing units. Typically, this means that a specified percentage of the total residential units must be made available to individuals or families who meet certain income criteria, often at below-market rental or purchase rates. This clause ensures that new developments contribute to the availability of affordable housing in a community, addressing housing shortages and promoting socioeconomic diversity.
Affordable Housing Component. The Affordable Housing Developer shall have (a) obtained City approval of the Specific Development Plan/Use Permit Approval for the Affordable Housing Component, (b) obtained City and Developer approval of the Affordable Housing Financing Plan, which approval shall not be unreasonably withheld, conditioned or delayed, and (c) delivered to City and Developer written evidence of financing commitments from all lending sources and governmental financing sources identified in the Affordable Housing Financing Plan, including evidence that the Affordable Housing Developer has obtained approval of 9% tax credit financing for the Affordable Housing Component offered through CTCAC if the Affordable Housing Developer is relying on such tax credit financing as provided in the Affordable Housing Financing Plan (the parties acknowledge that the Affordable Housing Developer shall not be required to have obtained financing commitments from tax equity investors as part of this Developer Condition Precedent);
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Affordable Housing Component. Other than as described in this Agreement with respect to the Affordable Housing Parcel, Developer shall have no affordable housing obligations with respect to any of the remaining portions of the Project.‌
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Affordable Housing Component. Notwithstanding Section 5.4.1, the parties acknowledge and understand that the Affordable Housing Component may qualify for a welfare exemption under section 214(g) of the California Revenue and Tax Code.‌
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Affordable Housing Component. The Affordable Housing Developer shall have (a) obtained City approval of the Specific Development Plan/Use Permit Approval for the Affordable Housing Component, (b) obtained City and Developer approval of Affordable Housing Developer’s financing plan, including a detailed pro forma showing sources and uses of all funds for funding the costs of construction and development of the Affordable Housing Component (the “Affordable Housing Financing Plan”), which approval shall not be unreasonably withheld, conditioned or delayed, and (c) delivered to City and Developer written evidence of financing commitments from all lending sources and governmental financing sources identified in the Affordable Housing Financing Plan, including evidence that the Affordable Housing Developer has obtained approval of 9% tax credit financing for the Affordable Housing Component offered through the California Tax Credit Allocation Committee (“CTCAC”) if the Affordable Housing Developer is relying on such tax credit financing as provided in the Affordable Housing Financing Plan (the parties acknowledge that the Affordable Housing Developer shall not be required to have obtained financing commitments from tax equity investors as part of this City Condition Precedent);
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Affordable Housing Component. Within three (3) months after the Effective Date of this Development Agreement, Developer shall have submitted complete applications to CDLAC and to San Mateo County for grants and/or debt financing and shall at that time have identified in writing to the City its sources of grants, equity and/or financing for the Affordable Housing Component Project, and shall have provided to the City all documentation reasonably required by the City to confirm to the City that such applications for grants, equity and/or for financing have been made and been deemed complete by recipient by that date. If this Agreement or any agreement with CDLAC or the County of San Mateo or other source of funds provides for a cash contribution of Developer to the City and/or to an affordable housing developer or other parties, proof of funds irrevocably set aside for such cash contribution shall be provided at the same time that Developer provides documentation of sources of equity and/or debt financing. Developer and/or an affordable housing developer shall report to the City Manager quarterly in writing on progress of obtaining grants, equity and/or financing for the Affordable Housing Component and shall report annually in writing to the City Council in conjunction with the quarterly review required under Section 5. Affordable Housing Component Timeline. The Affordable Housing Component shall be developed pursuant the following deadlines: Developer shall construct the Affordable Housing Component’s Infrastructure Improvements (including building pad) concurrently with construction of the Infrastructure Improvements (including building pad) of the Market Rate Component. Developer shall submit a complete application for a building permit for construction of the Affordable Housing Component (the “Affordable Housing Building Permit”) within four (4) months after the Effective Date of this Agreement. Developer shall start vertical construction of the Affordable Housing Component within three (3) years of commencement of construction of the Market Rate Component. This three (3) year period will include a period of two (2) years with a one-time one year extension if requested in writing by Developer within three (3) months of the end of the period of two (2) years. The City Manager shall (subject to the terms of this Agreement, including but not limited to its default provisions) approve this one year extension if requested during the time period above. Unless Developer starts vertical con...
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Affordable Housing Component. All Affordable Units shall be rented to and occupied by tenants who are at least 62 years of age.
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Related to Affordable Housing Component

  • Medical Examinations An employee may be required by the Employer, at the request of and at the expense of the Employer, to take a medical examination by a physician of the employee's choice. Employees may be required to take skin tests, x-ray examination, vaccination, inoculation and other immunization (with the exception of a rubella vaccination when the employee is of the opinion that a pregnancy is possible), unless the employee's physician has advised in writing that such a procedure may have an adverse affect on the employee's health.

  • Outpatient Dental Anesthesia Services This plan covers anesthesia services received in connection with a dental service when provided in a hospital or freestanding ambulatory surgical center and: • the use of this is medically necessary; and • the setting in which the service is received is determined to be appropriate. This plan also covers facility fees associated with these services. This plan covers dental care for members until the last day of the month in which they turn nineteen (19). This plan covers services only if they meet all of the following requirements: • listed as a covered dental care service in this section. The fact that a provider has prescribed or recommended a service, or that it is the only available treatment for an illness or injury does not mean it is a covered dental care service under this plan. • dentally necessary, consistent with our dental policies and related guidelines at the time the services are provided. • not listed in Exclusions section. • received while a member is enrolled in the plan. • consistent with applicable state or federal law. • services are provided by a network provider.

  • Employee Facilities Employee Facilities. Restrooms and attendant facilities shall be provided as required in the orders and regulations of the State of Washington Department of Labor and Industries. A good faith effort will be made by the Employer to provide facilities for employees’ personal belongings.

  • Medical Examination Where the Employer requires an employee to submit to a medical examination or medical interview, it shall be at the Employer's expense and on the Employer's time.

  • Eye Examinations For all covered EMPLOYEES required to use VDTs on average at least two (2) hours per day, the Department will provide a base line eye examination at the Occupational Safety and Health facility ("OSH"), followed by an eye examination at OSH once a year.