Affordable Rent. The maximum Monthly Rent chargeable to income eligible households shall be annually determined by the City and Authority in accordance with the HOME Program requirements and California Housing and Community Development (HCD) requirements. The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements:
a. The Monthly Rent payable by a tenant who meets the qualifying income limits for extremely-low income households shall not exceed the lesser of:
a.) Low HOME Rents at 50% of the area median income as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremely-low income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance.
b. The Monthly Rent payable by a tenant who meets the income limits for lower income households shall not exceed the lesser of: a.) High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance.
c. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits set forth above, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income.
d. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parking), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in...
Affordable Rent. 2.1 During the Affordability Period, the Proponent shall not charge rent for a Unit in the Project in excess of the affordable rent permitted under this Schedule “D” nor increase any rent charged for a Unit except as permitted in this Schedule “D”.
Affordable Rent. 2.1 During the Affordability Period, the Proponent shall not charge rent for a Unit in the Supportive Housing Project in excess of the affordable rent permitted under this Appendix “A” nor increase any rent charged for a Unit except as permitted in this Appendix “A”.
Affordable Rent. Affordable Rent shall be charged for all Housing Units throughout the Affordability Period. The maximum Affordable Rent chargeable for the Housing Units shall be annually determined by Authority (and as charged and implemented by Developer) in accordance with the following requirements:
(a) The Affordable Rent for the Housing Units to be rented to 30% AMI Very Low Income Households shall not exceed one-twelfth (1/12) of thirty percent (30%) of thirty percent (30%) of AMI for Orange County as determined and published annually by TCAC for a family of a size appropriate to the unit.
(b) The Affordable Rent for the Housing Units to be rented to 40% AMI Very Low Income Households shall not exceed one-twelfth (1/12) of thirty percent (30%) of forty percent (40%) of AMI for Orange County as determined and published annually by TCAC for a family of a size appropriate to the unit.
(c) The Affordable Rent for the Housing Units to be rented to 50% AMI Very Low Income Households shall not exceed one-twelfth (1/12) of thirty percent (30%) of fifty percent (50%) of AMI for Orange County as determined and published annually by TCAC for a family of a size appropriate to the unit.
(d) The Affordable Rent for the Housing Units to be rented to 60% AMI Low Income Households shall not exceed one-twelfth (1/12) of thirty percent (30%) of sixty percent (60%) of AMI for Orange County as determined and published annually by TCAC for a family of a size appropriate to the unit. Developer shall, and shall cause its Property Manager to, operate Phase I and cause occupancy of all Housing Units thereon in conformity with these covenants and this Agreement.
Affordable Rent. During the Affordability Period, the Proponent shall not charge rent for a Unit in the Project in excess of the affordable rent permitted under this Schedule “G” nor increase any rent charged for a Unit except as permitted in this Schedule “G”.
Affordable Rent. If the Jurisdiction’s Housing Rehabilitation Program provides for rehabilitating rental properties, the Jurisdiction must submit to the Department its provisions for assuring affordable rent for the LMI occupants. Jurisdiction may include this information as part of the Housing Rehabilitation Program Guidelines.
Affordable Rent. The maximum rent for the applicable Income Limit(s) for each Qualified Unit by bedroom size published by LHC by parish location for each Qualified Project but reduced by the Utility Allowance for each Qualified Unit.
Affordable Rent. Affordable Rent (pursuant to Tax Credit Rules) shall be charged to all Housing Units in accordance with Section 402 of the Original Agreement, the Phase A Regulatory Agreement, and the Phase A Ground Lease. An Affordable Rent Chart, which provides a sample rent calculation for each Housing Unit based on current, 2008 TCAC rents, is attached hereto as Exhibit G and incorporated herein. Exhibit G is attached hereto for reference purposes only; the parties acknowledge and understand that the Affordable Rent authorized to be charged for the Housing Units at Phase A of the Apartment Complex may change from time to time as new Affordable Rent limitations are promulgated by TCAC.
Affordable Rent. The maximum Monthly Rent chargeable for the Affordable Units shall be annually determined by the City and Agency in accordance with the HOME Program requirements, Community Redevelopment Law requirements, and the following requirements:
a. The Monthly Rent payable by the tenant of the Affordable Unit designated for very- low households must reflect the more stringent of HOME program Low HOME income rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utilility allowance ; or the extremely low income and very-low income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance . Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits for very low income households, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income.
b. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parking), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.
Affordable Rent. The maximum Monthly Rent chargeable for the Affordable Units including a reasonable utility allowance, shall not exceed (as applicable, the “Affordable Rent”): For very low-income households restricted under the HOME program rules, the rent does not exceed 30 percent of the
