Homeownership Units. (1) For each phase of development of mixed finance homeownership replacement housing (which does not include the provision of HOPE VI funds for only subordinate mortgage assistance to eligible families), the Grantee will enter into an Addendum to this HOPE VI Grant Agreement for the Mixed Finance Development of Homeownership Replacement Units. (2) Homeownership units may only be deemed to be replacement units if such units do not exceed the total number of units that have been or will be demolished and/or disposed of at the targeted severely distressed project and otherwise meet the requirements listed in Article III(C) of this Grant Agreement.
Appears in 9 contracts
Samples: Hope Vi Revitalization Grant Agreement, Grant Agreement, Hope Vi Revitalization Grant Agreement
