Extremely Low Income Units Sample Clauses

Extremely Low Income Units. During the Term Borrower shall cause three (3) Units to be rented to and occupied by or, if vacant, available for occupancy by, Extremely Low Income Households.
Sample 1Sample 2See All (7)
AutoNDA by SimpleDocs
Extremely Low Income Units. (A) During the HOPWA Term, Borrower shall cause five (5) Units to be rented to and occupied by or, if vacant, available for occupancy by, Extremely Low Income Households which households are HOPWA-Eligible Households.
Sample 1
Extremely Low Income Units. During the Term Borrower shall cause ten
Sample 1
Extremely Low Income Units. (i) At least _______ of the Units[, which shall be in addition to any units provided for in (A) and (B) of this Paragraph 3,] shall be leased to Extremely Low Income Tenants (“Extremely Low Income Units”). The tenants’ portions of monthly rent as of [insert termination date of the _________program restriction] for the Extremely Low Income Units are set forth in Exhibit B; Schedule Rents annexed hereto and incorporated herein. Until [insert date 2 years from the date of initial notice of effective termination date under the curative notice provisions of 760 CMR 64.03 (5)], the tenants’ portions of rents may only be increased to the extent that rent increases would be permitted if the Project were still subject to the _______ program and must follow the procedures for determining the amount of the increase, as required by the program.
Sample 1Sample 2
Extremely Low Income Units. During the Term Developer shall cause Units to be rented to and occupied by or, if vacant, available for occupancy by, Extremely Low Income Households.
Sample 1
Extremely Low Income Units. At least _______ of the Units shall be leased to Extremely Low Income Tenants (“Extremely Low Income Units”). The tenants’ portions of monthly rent as of [insert termination date of the _________program restriction] for the Extremely Low Income Units are set forth in Exhibit B; Schedule Rents annexed hereto and incorporated herein. Until [insert date 2 years from the date of initial notice of effective termination date under the curative notice provisions of 760 CMR 64.03 (5)], the tenants’ portions of rents may only be increased to the extent that rent increases would be permitted if the Project were still subject to the _______ program and must follow the procedures for determining the amount of the increase, as required by the _______ program. In addition, for three (3) years beginning on [insert date 2 years from the date of initial notice of effective termination date under the curative notice provisions of 760 CMR 64.03 (5)], the tenant’s portion of rent for those tenants who are “protected low-income tenants” as defined in the Act on [insert date 2 years from the date of initial notice of effective termination date under the curative notice provisions of 760 CMR 64.03 (5)] may not be increased more than once annually by the amount permitted under M.G.L. c. 40T, § 7, as further detailed in such Regulations and guidance as may be issued by from time to time by DHCD to effectuate the purposes and implementation of such Section 7.
Sample 1
Extremely Low Income Units. During the Term, Borrower shall rent nine
Sample 1
AutoNDA by SimpleDocs
Extremely Low Income Units. Forty-Six (46) of the Units shall be rented to and occupied by or, if vacant, available for occupancy by Extremely Low Income Households.
Sample 1

Related to Extremely Low Income Units

  • Can I Roll Over or Transfer Amounts from Other IRAs You are allowed to “roll over” a distribution or transfer your assets from one Xxxx XXX to another without any tax liability. Rollovers between Xxxx IRAs are permitted every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, Xxxx, SEP, and SIMPLE IRAs owned. If you are single, head of household or married filing jointly, you may convert amounts from another individual retirement plan (such as a Traditional IRA) to a Xxxx XXX, there are no AGI restrictions. Mandatory required minimum distributions from Traditional IRAs, must be removed from the Traditional IRA prior to conversion. Rollover amounts (except to the extent they represent non-deductible contributions) are includable in your income and subject to tax in the year of the conversion, but such amounts are not subject to the 10% penalty tax. However, if an amount rolled over from a Traditional IRA is distributed from the Xxxx XXX before the end of the five-tax-year period that begins with the first day of the tax year in which the rollover is made, a 10% penalty tax will apply. Effective in the tax year 2008, assets may be directly rolled over (converted) from a 401(k) Plan, 403(b) Plan or a governmental 457 Plan to a Xxxx XXX. Subject to the foregoing limits, you may also directly convert a Traditional IRA to a Xxxx XXX with similar tax results. Furthermore, if you have made contributions to a Traditional IRA during the year in excess of the deductible limit, you may convert those non-deductible IRA contributions to contributions to a Xxxx XXX (assuming that you otherwise qualify to make a Xxxx XXX contribution for the year and subject to the contribution limit for a Xxxx XXX). You must report a rollover or conversion from a Traditional IRA to a Xxxx XXX by filing Form 8606 as an attachment to your federal income tax return. Beginning in 2006, you may roll over amounts from a “designated Xxxx XXX account” established under a qualified retirement plan. Xxxx XXX, Xxxx 401(k) or Xxxx 403(b) assets may only be rolled over either to another designated Xxxx Qualified account or to a Xxxx XXX. Upon distribution of employer sponsored plans the participant may roll designated Xxxx assets into a Xxxx XXX but not into a Traditional IRA. In addition, Xxxx assets cannot be rolled into a Profit-Sharing-only plan or pretax deferral-only 401(k) plan. In the event of your death, the designated beneficiary of your Xxxx 401(k) or Xxxx 403(b) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary Xxxx XXX account. Strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing any type of rollover.

  • When Can I Make Contributions You may make annual contributions to your Xxxx XXX any time up to and including the due date for filing your tax return for the year, not including extensions. You may continue to make regular contributions to your Xxxx XXX even after you attain RMD age. In addition, rollover contributions and transfers (to the extent permitted as discussed below) may be made at any time, regardless of your age.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Saver’s Credit for IRA Contributions A credit of up to $1,000, or up to $2,000 if married filing jointly, may be available to certain taxpayers having a joint AGI of less than $65,000 in 2020, or $66,000 in 2021. The credit may also be available to certain taxpayers who are heads of household with an AGI of less than $48,750 in 2020, $49,500 in 2021, or married individuals filing separately and singles with an AGI less than $32,500 in 2020, or $33,000 in 2021. Some of the restrictions that apply include: • the individual must be at least 18; • not a full-time student; • not declared as a dependent on another taxpayer’s return; or • any distribution from most retirement plans (qualified and non-qualified) will decrease the eligible contribution.

  • Can I Roll Over or Transfer Amounts from Other IRAs or Employer Plans If properly executed, you are allowed to roll over a distribution from one Traditional IRA to another without tax penalty. Rollovers between Traditional IRAs may be made once every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, Xxxx, SEP, and SIMPLE IRAs owned. Under certain conditions, you may roll over (tax-free) all or a portion of a distribution received from a qualified plan or tax-sheltered annuity in which you participate or in which your deceased spouse participated. In addition, you may also make a rollover contribution to your Traditional IRA from a qualified deferred compensation arrangement. Amounts from a Xxxx XXX may not be rolled over into a Traditional IRA. If you have a 401(k), Xxxx 401(k) or Xxxx 403(b) and you wish to rollover the assets into an IRA you must roll any designated Xxxx assets, or after tax assets, to a Xxxx XXX and roll the remaining plan assets to a Traditional IRA. In the event of your death, the designated beneficiary of your 401(k) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary IRA account. In general, strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing rollovers. Most distributions from qualified retirement plans will be subject to a 20% withholding requirement. The 20% withholding can be avoided by electing a “direct rollover” of the distribution to a Traditional IRA or to certain other types of retirement plans. You should receive more information regarding these withholding rules and whether your distribution can be transferred to a Traditional IRA from the plan administrator prior to receiving your distribution.

Time is Money Join Law Insider Premium to draft better contracts faster.