Affordable Housing Contribution. This contribution will be subject to indexation based on increases in the Index and calculated using the following formula: C = £Y x (B / A) Where: A is the value of the Index for the month in which the amount of the Affordable Housing Contribution is agreed (either between the parties or by the Expert) B is the value of the Index for the month immediately preceding payment of the Affordable Housing Contribution pursuant to the provisions of this Agreement £Y is the Contribution C is the level of the Contribution after the application of the Indexation formula]
Affordable Housing Contribution. Developer hereby agrees to contribute Seven Hundred Fifty Dollars ($750.00) per residential dwelling unit approved by the City during final site plan approval of all Residential Parcels (by way of example, approval of One Hundred Fifty Two (152) residential dwelling units would yield a maximum total sum of One Hundred Fourteen Thousand Dollars ($114,000.00)), payable to the City to facilitate the City’s affordable housing programs and initiatives with the contribution to be used to provide down payment assistance to income eligible families for purchase of residential units throughout the City. Said contribution will be made payable to the City spread proportionately on a per residential dwelling unit basis, the first such contribution to be made at issuance of the first vertical building permit for any residential dwelling unit located within the Residential Parcels, and each time thereafter as a building permit is issued for each successive residential dwelling unit.
Affordable Housing Contribution. In addition to impact fees and exactions described in subsection (d) above, as part of the extraordinary public benefits package provided under the Development Agreement, NRP shall make a contribution to the County’s affordable housing fund in accordance with payment amounts and terms to be set forth in the Development Agreement a portion of which will be used by the County together with all other non-residential affordable housing impact fees from the Project and funds provided from the County’s Affordable Housing Trust Fund to the extent allocated to the Site in accordance with the Affordable Housing Trust Fund Policies and Procedures Manual for use by Affordable Developers (as defined in the Affordable Housing Plan attached hereto) for the development of low and very-low income units on the Site, and a portion of which will be used by the County to fund the County’s Proximity Housing Assistance Program to provide homebuyer assistance for market-rate and affordable residential ownership units developed on the Site, and/or for the development of low and very-low income units on the Site.
Affordable Housing Contribution. To notify the Borough Council in writing seven Working Days prior to the Commencement of Development Not to Commence Development until the Affordable Housing Contribution has been paid to the Borough Council.
Affordable Housing Contribution. 2.1 The Affordable Housing Contribution comprises financial amounts due in lieu of part- Affordable Housing Dwellings and/or the outcome of other negotiations between the Council and the Landowner in respect of further commuted sum payments
2.2 The Landowner covenants with the Council that it shall pay the sum of £ to the Council as the Affordable Housing Contribution
Affordable Housing Contribution. To apply the Affordable Housing Contribution solely towards the costs of providing affordable housing within the Borough of Warrington and for no other purpose
Affordable Housing Contribution. The original proposal included 4 on-site units for employee housing. The current proposal has eliminated those units. Based on the Letter of Intent, it appears that in lieu of the 4 employee units, you are proposing a cash contribution towards affordable housing. Please explain how the $50,000 proposed contribution was reached and how it addresses the City’s Development Incentives and Guidelines for Affordable Housing.
Affordable Housing Contribution. (a) The Developer will provide the Affordable Housing Contribution.
(b) The Affordable Housing Dwellings will be in the identified Precinct C (outlined in Schedule 3)
(c) The Developer will enter into an agreement with a Registered Community Housing Provider for the ownership and/or management of the Affordable Housing Dwellings prior to the Development Application referred to in 6.1(d) below.
(d) First Development Application for buildings in Precinct C must include six Affordable Housing Dwellings required to satisfy the Affordable Housing Contribution and detail of how and by who they will be managed.
(e) The parties agree that the Developer's delivery of Affordable Housing Dwellings in accordance with this clause 6.1 represents the Developer's full and final contribution toward the Affordable Housing Contribution in relation to the Development and the Land
Affordable Housing Contribution. (a) The Developer is to pay to Council the Affordable Housing Contribution specified in Part C of Schedule 2 in the manner and at the time or times specified in that Part.
(b) The amount of the Affordable Housing Contribution is to be indexed annually from the date of this Agreement in accordance with the Consumer Price Index (All Groups Sydney) published by the Australian Bureau of Statistics.
(c) The Affordable Housing Contribution is made for the purposes of this Agreement when Council receives the full amount of the contribution payable under this Agreement by unendorsed bank cheque or deposit by means of an electronic funds transfer of cleared funds into a bank account nominated by Council.
Affordable Housing Contribution. 1.1 The Owner hereby covenants with the Council:-
1.1.1 To pay the Affordable Housing Contribution to the Council prior to the first Occupation of any Dwelling and not to cause permit or suffer the first Occupation of any Dwelling comprising the Development unless and until the Affordable Housing Contribution has been paid to the Council and for the avoidance of doubt the provisions of this clause 1 shall not restrict the occupation of the Existing Dwelling.
