Inclusionary Units Sample Clauses

Inclusionary Units. If a Vertical Developer has undertaken good faith efforts to sell or rent any Inclusionary Unit in accordance with Section 3.2(b), and despite such good faith efforts such Unit(s) have not been sold or rented, as applicable, by the date that is ninety (90) days after all Market Rate Units in the same Residential Project have been sold or rented, then such Vertical Developer may request that the Agency Director Approve in his or her sole and absolute discretion an increase of the income qualifications applicable to such Unit(s) by an amount equal to no greater than twenty percent (20%) (i.e., from an AMI Percentage equal to eighty percent (80%) to not greater than one hundred percent (100%)), provided that (i) in no event shall the AMI Percentage be increased above one hundred twenty percent (120%) and (ii) there shall be no increase in the purchase price or rental charge of the Inclusionary Unit(s).
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Inclusionary Units. Pursuant to OCII’s enforceable obligations, any non-OCII funded affordable housing rental units included in market-rate developments (“Inclusionary BMR Rental Units”) will be offered to eligible households, and any non-OCII funded for-sale affordable housing units included in market-rate developments (“Inclusionary LEP Units”) will be offered to eligible households through OCII’s Limited Equity Program (“LEP”). MOHCD will provide the following services prior to the project’s completion and the transfer of any affordable housing restrictions to MOHCD as a housing asset. OCII will include the cost of these services in OCII’s annual budget and semi-annual ROPS as needed. MOHCD will provide these services consistent with the project’s enforceable obligation documents which require affirmative marketing and outreach and a lottery-based selection of applicants, the marketing, lottery, and application policies used for the City’s Inclusionary Program, and Fair Housing Law. Upon completion of the relevant housing asset and issuance of a Certificate of Completion, MOHCD will be responsible for the monitoring and asset management of any Inclusionary LEP Units or Inclusionary BMR Rental Units (together “Inclusionary Units”) in compliance with the CRL as amended by Dissolution Law or other relevant state laws.
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Inclusionary Units. TICD and its affiliates and other third-party vertical developers will develop approximately 742 “Inclusionary Units” (representing 15% of the total of all privately-developed units) as development proceeds. Rental Inclusionary Units will be priced for households earning no more than 60% of San Francisco Median Income (SFMI) for San Francisco County as published by the San Francisco Mayor's Office of Housing annually ($54,700 for a four-person household in 2006). For sale Inclusionary Units will be priced for households earning no more than 100% of SFMI ($91,200 for a four-person household in 2006). Exhibit L.1 shows the current price levels of affordable units based on SFMI levels and household size for rental and for-sale homes. The DDA will include applicable procedures for review and approval by the Authority and the Mayor’s Office of Housing of the size, type and location of Inclusionary Units in accordance with specific agreed upon standards.
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