Affordable Sales Price. The term “Affordable Sales Price” means the maximum price that can be charged for the Inclusionary Unit. The calculations of Affordable Sales Price for each Inclusionary Unit are shown in Exhibit E to this Agreement.
Affordable Sales Price. Affordable Sales Price shall mean the maximum price for the sale of an Assisted Unit to a Qualified Homebuyer by DEVELOPER. The Affordable Sales Price shall not exceed the lesser of the Appraised Value at Resale or the Total Cost of Development.
Affordable Sales Price. Affordable Sales Price means a sales price that will result in an Affordable Ownership Cost for a household whose Gross Annual Household Income does not exceed 110% of Area Median Income (defined in Section 6.b above) based upon Assumed Household Size (defined below). “Affordable Ownership Cost” means the projected monthly housing cost during the first calendar year of a household's occupancy, as determined by the City, including mortgage
Affordable Sales Price. Affordable Sales Price means a sales price that will result in an Affordable Ownership Cost for a household whose Gross Annual Household Income does not exceed 110% of Area Median Income (defined in Section 6.b above) based upon Assumed Household Size (defined below). “Affordable Ownership Cost” means the sum of all of the following: (i) principal and interest on a mortgage loan and any loan insurance fees associated therewith; (ii) property taxes and assessments; (iii) a reasonable allowance for property maintenance and repairs based upon the estimated annual home warranty expense; (iv) a reasonable allowance for an adequate level of service for utilities based upon the established local Housing Authority Utility Allowance including garbage collection, sewer, water, electricity, gas, and other heating, cooking, and refrigeration fuels, but excluding telephone service; (v) homeowner association fees; and (vi) fire and casualty insurance
