Affordable Housing Units Sample Clauses
The "Affordable Housing Units" clause defines the requirements and obligations related to the provision of housing units that are priced to be accessible to individuals or families with lower incomes. Typically, this clause specifies the number or percentage of units within a development that must meet affordability criteria, outlines eligibility standards for tenants or buyers, and may reference compliance with local or federal affordable housing regulations. Its core practical function is to ensure that new developments contribute to the availability of affordable housing, addressing community needs and often fulfilling legal or policy mandates.
Affordable Housing Units. No bedroom or unit in the Property is leased or reserved for lease as an affordable housing unit or for low- or moderate-income residents. The Property is not required to lease or reserve any unit or bedroom as an affordable housing unit or bedroom or for low-income or moderate-income residents pursuant to a presently existing agreement or Applicable Law.
Affordable Housing Units. To Seller’s knowledge, the Property is not subject to any restriction or covenant requiring that any units in the Facility be leased or reserved for lease as an affordable housing unit or for low or moderate income residents.
Affordable Housing Units. Exhibit H is a true and complete list of each unit within the Facilities (specifying the number of bedrooms in each unit) which is leased or reserved for lease as an affordable housing unit, or for low or moderate income residents. Exhibit H truly and correctly lists the number of units (and the number of bedrooms in each such unit) at the Facilities which may be required to be leased as an affordable housing unit, or for low or moderate income residents, pursuant to a presently existing agreement or requirement of law.
Affordable Housing Units. 3.1 The Owner covenants and agrees that twenty-eight (28) residential housing units within the Development will be developed and will thereafter be held and occupied throughout the Term as Affordable Housing Units under the terms of this Agreement.
Affordable Housing Units. Pursuant to MPS AH 1.8, MPS AH1.9, and MPS AH2.2, the on-Site Affordable Housing Units in Phase 1 shall:
(i) include approximately fifteen (15) 1-bedroom units, and eight (8) 2-bedroom units;
(ii) be constructed and occupied generally concurrent with construction and occupation of the market rate dwelling units to be developed as part of Phase 1;
(iii) provide at least 700 square feet of net livable space per 1-bedroom unit and 1100 square feet of net livable space per 2-bedroom unit (for the purposes of this condition, “livable space” shall not include interior mechanical rooms or spaces);
(iv) be constructed and initially located in accordance with the Revised Plans, subject to any changes in location permitted under a Regulatory Agreement entered into by the Applicant and the Town of Barnstable, and approved by the Department of Housing and Community Development (the “Regulatory Agreement”);
(v) at least five (5) of the Affordable Units shall be visitable or disabled- accessible units; and
(vi) services and amenities included in any base residential package for market units shall be included in the residential package for Affordable Housing Units.
Affordable Housing Units. (a) Not used.
(b) The Landowner will either:
(i) dedicate or transfer, at no cost to Council, 2 fully completed and fitted out Affordable Housing Units, containing at least 2 bedrooms and 1 car park each, within the Development to Council; or
(ii) subject to clauses 7.4(c) and (d), dedicate or transfer, at no cost to Council, 2 fully completed and fitted out Affordable Housing Units, containing at least 2 bedrooms and 1 carpark each, located outside of the Development within the area of Melrose Park subject to the MP Planning Proposals.
(c) Prior to the issue of a Construction Certificate for the Development (excluding for the Park Works):
(i) the Landowner must notify Council in writing whether it will be providing Affordable Housing Units within or outside of the Development; and
(ii) if the Landowner elects to deliver Affordable Housing Units that are located outside of the Development, provide documentary evidence confirming that 100% of the Residential Lots within the proposed Development will be:
(A) sold to a Social Housing Provider; and/or
(B) will be approved as co-living housing but will not be approved as Build-to- Rent Housing.
(d) For the avoidance of doubt:
(i) clause 7.4(b)(ii) does not apply unless:
(A) the Landowner provides notice under clause 7.4(c); and
(B) 100% of the Residential Lots within the Development will be sold to a Social Housing Provider or will be approved as co-living housing but will not be approved as Build-to-Rent Housing; and
(ii) if clause 7.4(b)(ii) does not apply, the Landowner must comply with clause 7.4(b)(i).
(e) The Affordable Housing Units will be constructed, completed and transferred to Council in the manner and timeframes specified in the Contributions Table.
(f) An Affordable Housing Unit must not be transferred to Council unless and until an Occupation Certificate has been issued for that unit.
(g) On transfer to Council:
(i) Each Affordable Housing Unit must be freed and discharged from all estates, interests, trusts, restrictions, dedications, reservations, easements, rights, charges, rates and contracts in, over or in connection with the land, including but not limited to, any outstanding municipal rates and charges, water rates, land tax and strata levies, except as permitted by Council or that is required by a condition of Development Consent or relates to usual strata rights; and
(ii) the Landowner must ensure that Council receives the benefit of and is entitled to claim against any warranties, bonds...
Affordable Housing Units. The Developer agrees to maintain for a period of twenty (20) years, adjusted by the Consumer Price Index based upon initial occupancy at the first day of building occupancy, no fewer than six (6) affordable rental housing units. The affordable housing units are to be 2 (two) bedroom units constructed with similar finishes for flooring, trim, bathrooms, paint and kitchen cabinets as the market rate housing units, with a Base Monthly Rental Rate at or below 30% of the Median Total Income of Lone-Parent economic families in the published 2015 Statistic Canada data, being $53,376, in Rothesay. Alternatively, if the two existing single-family homes are to be affordable, the rent will be established at 10% below market rent established by a qualified appraiser.
Affordable Housing Units. To comply with Pursuant to MPS AH 1.8 and1.8, MPS AH1.9, and MPS AH2.2, the on-Site Affordable Housing ComponentUnits in Phase 1 shall:
Affordable Housing Units. Buyer understands, acknowledges and agrees that, pursuant to the Affordable Housing Agreement and as set forth in the Declaration, the first dwelling unit developed on the Lot can be market priced (i.e., it need not be an "Affordable Housing Unit", as that term is defined in the Affordable Housing Agreement). With respect to any dwelling units developed on the Lot after that first dwelling unit, a minimum of 51% of the dwelling units for sale or rent on the Lot must be "Affordable Housing Units" according to the following schedule:
(a) the second dwelling unit shall be an "Affordable Housing Unit" that is affordable to the "120% to 140% Group";
(b) the fourth dwelling unit shall be an "Affordable Housing Unit" that is affordable to the "100% to 120% Group";
(c) the sixth dwelling unit shall be an "Affordable Housing Unit" that is affordable to the "80% to 100% Group"; and
(d) the eighth dwelling unit shall be an "Affordable Housing Unit" that is affordable to the "Below 80% Group".
Affordable Housing Units. No Facility is required to lease or reserve any unit or bedroom as an affordable housing unit or bedroom or for low or moderate income residents pursuant to a presently existing agreement, Approval or requirement of law.