INITIAL AMOUNT OF RENTAL ASSISTANCE AND INITIAL NUMBER OF ASSISTED HOUSEHOLDS Sample Clauses

INITIAL AMOUNT OF RENTAL ASSISTANCE AND INITIAL NUMBER OF ASSISTED HOUSEHOLDS. The calculation of the Initial Amount of Rental Assistance is based on information provided in the Annex and takes into account the Gross Household Income. Service charges are added to or removed from the Rent-Geared-to Income based on the utility allowances determined by CMHC. Finally, this amount is compared to the minimum Occupancy Charge to determine the amount of Rental Assistance. The minimum Occupancy Charge used is twenty-five percent (25%) of the Occupancy Charge for the purposes of this calculation. The Initial Amount of Rental Assistance and the Initial Number of Assisted Households are effective between the execution of the Agreement and the end of the Housing Provider’s first annual review by CMHC or its representative of the Housing Provider’s financial statements and reconciliation of funding under this Agreement.
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Related to INITIAL AMOUNT OF RENTAL ASSISTANCE AND INITIAL NUMBER OF ASSISTED HOUSEHOLDS

  • Rental Assistance Payment The rent due each month to the Owner under the Lease is identified in Exhibit A (the “Contract Rent”). The Owner shall not increase the Contract Rent during the term of this Contract. Owner/Representative Initials: The Program Administrator will provide a one time “Rental Assistance Payment” in the amount identified in Exhibit A to the Owner on behalf of the Tenant. The Rental Assistance Payment will be credited against the Contract Rent otherwise due under the Lease. The Tenant is responsible to the Owner for the “Tenant Contribution” identified in Exhibit A and any additional amounts due under the Lease not covered by the Rental Assistance Payment. Neither the Program Administrator nor the PJ assumes any obligation for the Tenant Contribution due monthly to the Owner, or the payment of any claim by the Owner against the Tenant. The Program Administrator's Rental Assistance Payment obligation is limited to making payment in the amount identified in Exhibit A on behalf of the Tenant to the Owner in accordance with this Contract.

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