Affordable Housing Requirements. The following requirements with respect to Workforce/Affordable Housing Units shall at all times be continuously complied with and satisfied from the date on which the Project or the initial Phase thereof is first placed in service through the end of the Credit Period:
(a) The Project shall be completed and placed in service on or before the end of the Investment Period, and shall contain and be comprised of approximately one hundred thirty-nine (139) Total Housing Units and approximately twenty-eight (28) Workforce/Affordable Housing Units. Workforce/Affordable Housing Units must be constructed before or concurrently with market-rate units (i.e., each Phase of the Project to be placed in service must include Workforce/Affordable Housing Units), and Workforce/Affordable Housing Units must represent at least twenty percent (20%) of Total Housing Units in all completed Phases of the Project, or in the completed Project if applicable. For purposes of calculating the percentage of Workforce/Affordable Housing Units represent of Total Housing Units, fractional percentages equal to or in excess of half of one percent (0.5%) shall be rounded up to the nearest whole percentage. For example only, if the Workforce/Affordable Housing Units represent nineteen and one-half of one percent (19.5%) of the Total Housing Units in the Project, the percentage or Total Housing Units represented by Workforce/Affordable Housing Units shall be rounded up to twenty percent (20%) for purposes of determining satisfaction of these Affordable Housing Requirements.
(b) Of the Workforce/Affordable Housing Units established in the Project:
i. At least twenty percent (20%) of the Workforce/Affordable Housing Units shall at all times be rented, reserved, or exclusively offered for rent as 40% AMI Housing Units;
ii. At least sixty percent (60%) of the Workforce/Affordable Housing Units shall at all times be rented, reserved, or exclusively offered for rent as 60% AMI Housing Units; and
iii. Not more than twenty percent (20%) of the Workforce/Affordable Housing Units shall at any time be rented, reserved, or exclusively offered for rent as 80% AMI Housing Units.
(c) Workforce/Affordable Housing Units must be distributed approximately evenly throughout the Project, and shall not be clustered or grouped together in a particular area or location of the Project, and must be comparable to the market-rate units contained within the Project in size, exterior appearance, interior fixtures, furnishin...
Affordable Housing Requirements. (a) The Onsite Affordable Housing must meet the affordable housing principles set out in the City’s ‘Affordable Housing Program’ adopted 24 August 2020 or any such updated or amended version of this document in effect at the time of lodgement of the Development Application.
(b) Subject to any approval provided by the City under clause 2.5(f) of Schedule 3, the required square meterage of Affordable Housing, as determined in accordance with clause 2.1 of Schedule 3, must be in the form of Affordable Housing Dwellings, excluding car or storage spaces, and cannot include common circulation areas except where all Affordable Housing Dwellings are provided as a full floor of a building or a standalone building and the inclusion of the common circulation areas in the square meterage is agreed by the City.
(c) The Developer and Landowner must design, construct and fit-out the Affordable Housing Dwellings, at their cost.
(d) Each Affordable Housing Dwelling must have a total minimum floor area of 35 square metres (excluding any car or storage spaces).
(e) The amenity objectives established by the Apartment Design Guide published by the NSW Department of Planning and Environment in effect at the time of lodgement of the Development Application must be generally achieved for all Affordable Housing Dwellings (e.g. 70% of the Affordable Housing Dwellings should achieve adequate solar access).
(f) Subject to clause 2.2(g) of Schedule 3, all Affordable Housing Dwellings must be designed, constructed and fitted out to the same standard, and with a fit-out of the same scope, as the other residential dwellings in the Development. The Affordable Housing Dwellings must not be differentiated as affordable housing compared with the design, construction and fit-out of other housing in the Development.
(g) The Developer and Landowner must make changes to the design, construction and fit-out of the Affordable Housing Dwellings as reasonably required by the Community Housing Provider to suit the Community Housing Provider’s future use and maintenance program for the Affordable Housing Dwellings, including changes that relate to:
(i) the configuration and/or layout of the Affordable Housing Dwellings;
(ii) the finishes, materiality and/or durability of the construction and/or fit-out of the Affordable Housing Dwellings; or
(iii) any accessibility requirements for the Affordable Housing Dwellings.
Affordable Housing Requirements. A deed restriction shall be recorded for the town home portion of the development specifying the land is required to be developed as affordable units in accordance with AMC 18.06.030.G(5) and in conformance with the approval of PA 2006-01663. The deed restriction shall require the affordable units to remain affordable per Resolution 2006-13 for a 60 year period from initial occupancy. The town home area shall be serviced with all needed public facilities. The deed restricted land shall be dedicated to a non-profit (IRC 501(3)(c)) affordable housing developer or comparable Development Corporation with proof of the dedication and deed restriction being presented to the City of Ashland Housing Program Specialist prior to issuance of a building permit for the development of the first market rate residential unit. The deed for the land conveyed for affordable housing purposes shall include a reverter to the Owner or deed restriction requiring conveyance of the property to the City of Ashland if the affordable housing development is not fully developed in accordance with the approval of PA 2006-01663 within five years of this approval, unless administratively extended pursuant to Exhibit F. In the event the property reverts to the Owner the Owner shall thereafter convey the property, without encumbrances, to the City of Ashland, for affordable housing purposes. City may accept or reject the offer, but the owner shall not be relieved of the obligation to convey the property to another approved provider of affordable housing. All the affordable housing units shall be Net Zero Energy Ready as provided in Condition 12 below.
Affordable Housing Requirements. Developer shall satisfy the affordable housing obligation required in connection with the Overall Development by constructing twenty three (23) affordable family rental units on the Lake Drive Property for very low, low and moderate income households based upon a 20% set-aside for the Overall Development, but in no event shall there be less than 20 affordable units. These affordable units shall consist of four (4) one-bedroom units, fourteen (14) two-bedroom units and five (5) three-bedroom units as further broken down by income level in the chart below. The affordable units shall fully comply with the Uniform Housing Affordability Controls ("UHAC"), N.J.A.C. 5:80-26.1 et seq., with the sole exception that very low income shall be defined as at or below thirty percent (30%) of the median income. The affordability controls shall remain in effect unless and until the municipality elects to release the unit from such controls after at least thirty (30) years from the date of initial occupancy in accordance with UHAC. The affordable units shall be constructed in accordance with the phasing schedule as outlined in Section 3(i) of the Settlement Term Sheet attached as Exhibit “A.” Unit Type Very-Low Income (30% or less RMI) Low Income (30% to 50% RMI) Moderate Income (50% to 80% RMI) Total 2 bedrooms 2 5 7 14 3 bedrooms 1 2 2 5
i. Developer agrees, in accordance with the above chart, that 13% of the total number of affordable units shall be affordable to very low income households earning thirty percent (30%) or less of the median income. Thus, in conjunction with UHAC's low/mod split requirements (very low income units are considered low income for the low/mod split determination), at least 13% of all affordable units shall be very low income, at least 37% shall be affordable to low income households, and up to 50% may be affordable to moderate income households.
ii. The affordable units shall comply with the COAH and UHAC requirements for accessibility and adaptability.
iii. The Developer should ensure that there will not be additional fees for the use of any amenities by the tenants of the affordable units. There shall be no off street parking charges for residents of the affordable units.
iv. The Developer agrees to retain an experienced Administrative Agent to handle affirmative marketing, reviewing the deed restriction, establishing pricing, tenant income eligibility determination, and long term administration of the affordable units including monitoring p...
Affordable Housing Requirements. 8.1 Subject to clause 8.2, the Affordable Housing Units must have an aggregate floor space greater than or equal to the sum of the Affordable Housing Floor Space.
8.2 Where the Affordable Housing Floor Space cannot be accommodated within whole Affordable Housing Units, the Developer may elect to either:
(a) pay the balance of the Contribution Value as an Affordable Housing Monetary Contribution in accordance with item E at the table in clause 1 of Schedule 3; or
(b) provide an additional unit for Affordable Housing.
8.3 Unless otherwise agreed in writing between the Developer and the Community Housing Provider who has executed the Contract for Sale, the Developer must ensure that the Affordable Housing on the Land satisfies the following requirements:
(a) between 30% to 50% of the total floor space of the Affordable Housing must comprise one-bedroom dwellings;
(b) between 30% to 50% of the total floor space of the Affordable Housing must comprise two-bedroom dwellings;
(c) between 10% to 30% of the total floor space of the Affordable Housing must comprise three-bedroom dwellings;
(d) each dwelling of Affordable Housing must be designed and constructed to a standard which, in the opinion of the City:
(i) is of a quality and standard of design that is consistent with other dwellings in the Development; and
(ii) ensures that the dwelling cannot be outwardly differentiated from the other dwellings within the Development;
(e) living rooms and private open spaces in at least 70% of the Affordable Housing dwellings must receive a minimum of 2 hours direct sunlight between 9 am and 3 pm each day;
(f) at least 85% of the Affordable Housing dwellings must receive some direct sunlight between 9 am and 3 pm at mid-winter;
(g) at least 60% of Affordable Housing dwellings must be naturally cross ventilated;
(h) at least 15% of Affordable Housing dwellings must be adaptable.
Affordable Housing Requirements. A new sentence is added to the first paragraph of Section 103(e)(l) as follows: “In no event shall the Restricted Units include the live/work units constructed in Subarea B.”
Affordable Housing Requirements. 4.1.1 Developer and Town agree the affordable housing requirements shall not exceed the parameters set forth in Section 2.2.3 of this Agreement. The Total Affordable Housing Cost is defined to mean the value of the 47 units of on-site affordable housing, as specified in Section 2.2.3, an in-lieu of fee payment for 47 units of off-site affordable housing, as specified in Section 2.2.3, and the application of existing housing credits (16.5 FTEE). Developer and Town agree the Total Affordable Housing Cost reasonably implements Town’s affordable housing requirements, which will be further implemented through subsequent submittals of Affordable Housing Implementation Plans (each an “AHIP”). Notwithstanding
Affordable Housing Requirements. For a period of fifty-five (55) years, commencing from the Conversion (“the Covenant Period”):
(1) All of the Affordable Units shall be available to Low Income and Very Low Income households at an Affordable Rent in accordance with the Schedule of Affordable Rents attached hereto as Exhibit “B” and incorporated herein by this reference. This Notice is recorded for the purpose of providing notice only and it in no way modifies the provisions of the Affordability Covenants. CITY OF SAN DIEGO, a municipal corporation Dated: By: Xxxxx X. Xxxxxxx, CCIM Director, Real Estate Assets Department APPROVED AS TO FORM AND LEGALITY Xxx Xxxxxxxxx City Attorney By: Xxxxx Xxxxxxx The land referred to herein is situated in the State of California, County of San Diego, City of San Diego, and described as follows: Lots A, B, C, D and E in Block 48 of Xxxxxx’x Addition, in the City of San Diego, County of San Diego, State of California, according to Map thereof made by L.L. Xxxxxxxx, filed in the office of the county recorder of said San Diego County. Assessor Parcel Numbers: 000-000-00 and 000-000-00 Unit Type/Number Income Requirements - based upon household size appropriate for the unit Maximum Rent – including parking fees and the applicable utility allowances most recently published by the San Diego Housing Commission Living Units 0 Low Income households 1/12 x 30% x 60% AMI 63 Very Low Income households at 40% TCAC AMI* 1/12 x 30% x 40% TCAC AMI* 79 Very Low Income households at 30% TCAC AMI* 1/12 x 30% x 30% TCAC AMI* Studio Units 25 Low Income households 1/12 x 30% x 60% AMI 7 Very Low Income households at 40% TCAC AMI* 1/12 x 30% x 40% TCAC AMI* 0 Very Low Income households at 30% TCAC AMI* 1/12 x 30% x 30% TCAC AMI* 74 Low Income households 1/12 x 30% x 60% AMI 0 Very Low Income households at 40% TCAC AMI* 1/12 x 30% x 40% TCAC AMI* 0 Very Low Income households at 30% TCAC AMI* 1/12 x 30% x 30% TCAC AMI*
Affordable Housing Requirements. All affordable units in the Green Brook proposed project shall comply with the FHA, applicable Council on Affordable Housing (“COAH”) regulations, Uniform Housing Affordability Controls, N.J.A.C. 5:80:26.1 et. seq. (“UHAC”), the Borough’s Affordable Housing Ordinance, any applicable order of the Court (including any Judgment of Compliance and Repose Order entered by the Court), and other applicable laws as may be amended and supplemented. Green Brook will also comply with the following provisions regarding the affordable units in its proposed project, which provisions will prevail in the case of a conflict with UHAC:
Affordable Housing Requirements. For and in consideration of the City’s agreement to provide the CDBG Loan for the Project, to be developed on the Development Site, Developer agrees and understands:
1. All of the fifty-four (54) residential apartment units will be affordable to and rented and occupied by LMI households with incomes at or below 80 percent of Area Median Family Income, adjusted for household size as established in the income guidelines promulgated by HUD and published annually by HUD. A copy of the 2020 income limits is included in Exhibit D of this Agreement.
2. Determination and certification of tenant LMI eligibility shall be done by the Partnership or its property manager in accordance with HUD’s rules and regulations governing CDBG-NDR Funds.
3. All fifty-four (54) units shall be leased to eligible LMI tenants and occupied by such tenants.
4. If the Project has higher than normal vacancies, the Developer shall cause the Partnership to provide, as supplemental information in its quarterly Progress Report, a written report to the City that may include: (1) evidence of a Marketing Plan in place to fill the vacant apartment units; (2) documentation of all advertisements, website postings, listings, open houses, etc. that Partnership has undertaken to fill the vacant apartment units; (3) information relating to the number and location of each vacant unit; and (4) documentation establishing that the fifty-four (54) LMI apartments are being maintained according to HUD Quality Standards for affordable housing set forth in 24 CFR, section 982.401 and City of Minot Code.
5. All fifty-four (54) residential senior apartment units will remain compliant as LMI rental apartments for the Affordability Period. Once the Affordability Period terminates, all income/affordability restrictions shall terminate with no further action needed from the City, Developer, or the Partnership.
