Long-term Affordability Sample Clauses

Long-term Affordability. The Developer shall set aside 45 units for which educational facilities impact fees are herein deferred for persons or households who have annual gross incomes at or below 80% of the Area Median Income as calculated by the U.S. Department of Housing and Urban Development. The Developer shall limit the monthly rent for these units to no more than 30% of family income. The Developer shall require and ensure that families renting a unit in the Project must have children currently enrolled in Brevard Public Schools, such that the occupancy of the unit does not generate the need for additional educational capacity in Brevard Public Schools.
Sample 1Sample 2
AutoNDA by SimpleDocs
Long-term Affordability a. If the fair market value of any Housing Assistance Grant or the total amount of Affordable Housing Funds which have been awarded, loaned, donated, or otherwise conveyed to the Qualifying Grantee is from $1 to $14,999, then the Affordability Period shall be not less than five (5) years. If the fair market value of any Housing Assistance Grant or the total amount of Affordable Housing Funds is from $15,000 up to and including $40,000, then the Affordability Period shall be not less than ten (10) years. If the fair market value of any Housing Assistance Grant or the total amount of Affordable Housing Funds is from $40,000 up to and including $100,000, then the Affordability Period shall be not less than fifteen (15) years. If the fair market value of any Housing Assistance Grant or the total amount of Affordable Housing Funds is greater than $100,000, then the Affordability Period shall be not less than twenty (20) years. b. In this case, the Affordability Period shall be ten (10) years for each individual lot and twenty (20) years for each of the two (2) houses on Lots 8 and 25. The Affordability Period shall be preserved by the Qualifying Grantee in all sales to Eligible Buyers with a mortgage and note provided by the Town which shall restrict reconveyance of the property that is the subject of this Agreement to a person who is not an Eligible Buyer for the required period unless the Eligible Buyer or Qualifying Grantee pays to the Town an amount equal to the then-appraised value of the property at the time of sale as determined by an appraisal approved by the Town, or the price of $31,000 (established by resolution of the Town of Taos as the sales price for building lots within the Chamisa Verde Subdivision), whichever is less. The mortgage and note shall also include a right of first refusal in favor of the Town. Any cost associated with the recording and returning of the mortgage and note shall be borne by Eligible Buyer.
Sample 1
Long-term Affordability. The Owner agrees to extend the term of the Declaration as set forth below, with the period indicated beginning with the first day of the Compliance Period. Unless already waived in the Declaration, the Owner also agrees to waive its right to a qualified contract as set forth in Code Sections 42(h)(6)(E)(i)(II) and 42(h)(6)(F) (“Qualified Contract Provisions”). The Owner agrees to extend the term of the Declaration to 45 years and agrees that the Qualified Contract Provisions do not apply to the Project. If requested by the Board, the Owner further agrees to record within six months after the date that is the 29th anniversary of the date of this Declaration a document provided by the Board if deemed necessary by the Board to ensure the 45-year term (9% projects only). The Owner agrees to extend the term of the Agreement to [ ] years and agrees that the Qualified Contract Provisions do not apply to the Project. (4% projects only) The Owner agrees that the term of the Agreement is 30 years and agrees that the Qualified Contract Provisions do not apply to the Project. (9% projects only) The Owner agrees that the term of the Declaration is 30 years and agrees that Qualified Contract Provisions do not apply to the Project for 20 years. (4% projects only)
Sample 1
Long-term Affordability a. If the fair market value of any Housing Assistance Grant or the total amount of Affordable Housing Funds which have been awarded, loaned, donated, or otherwise conveyed to the Qualifying Grantee is from $1 to $14,999, then the Affordability Period shall be not less than five (5) years. If the fair market value of any Housing Assistance Grant or the total amount of Affordable Housing Funds is from $15,000 up to and including $40,000, then the Affordability Period shall be not less than ten (10) years. If the fair market value of any Housing Assistance Grant or the total amount of Affordable Housing Funds is from $40,000 up to and including $100,000, then the Affordability Period shall be not less than fifteen (15) years. If the fair market value of any Housing Assistance Grant or the total amount of Affordable Housing Funds is greater than $100,000, then the Affordability Period shall be not less than twenty (20) years. b. In this case, the Affordability Period shall be twenty (20) years. The Affordability Period shall be preserved by the Qualifying Grantee through a mortgage and note provided by the Town which shall restrict reconveyance of the property that is the subject of this Agreement for the required period unless the Qualifying Grantee pays to the Town an amount equal to the then-appraised value of the property at the time of sale as determined by an appraisal approved by the Town. The mortgage and note shall also include a right of first refusal in favor of the Town. Any cost associated with the recording and returning of the mortgage and note shall be borne by the Qualifying Grantee.
Sample 1
Long-term Affordability. Pursuant to 24 CFR 92.254, the HOME-assisted unit must meet the affordability requirements for not less than the term of the period of affordability or any longer period stipulated in the City Documents.
Sample 1
Long-term Affordability. If the housing is transferred, voluntarily or otherwise, during the period of affordability, it must be made available for subsequent purchase only to another buyer whose household qualifies as low income and will use the property as its principal residence. To qualify as low-income, a household’s income must be below 80% AMI. An organization awarded HOME funds for housing development must enforce these affordability requirements. If a home is sold during the period of affordability, the price at resale must provide the original HOME-assisted homebuyer a fair return on investment. Net proceeds (after senior debt and sales costs) to the seller shall not exceed the sum of:
Sample 1
Long-term Affordability. The Project must meet the affordability 3 requirements for fifteen (15) years after transfer of title to Qualified
Sample 1
AutoNDA by SimpleDocs
Long-term Affordability. Developer, and any successor owner or lessee of any building in the Project will maintain income and rent restrictions on each Affordable Housing Unit in the Project so that such unit remains affordable for the income tier for which such unit was created in accordance with this Article 7 for a period of ninety-nine (99) years after such unit is first placed in service. The goal of the Developer shall be to maintain the affordability of the units for the term and income tiers specified above and, accordingly, rent increases applicable to both continuing tenants and vacancies will be consistent with this goal and maintaining the economic viability of the Project. HCBA-IG and Developer will develop together the term and mechanism for long-term affordability restrictions on Affordable Homeownership units consistent with any applicable governmental programs. Where any law, regulation, or rule requires or allows for a longer period of affordability for any of the units in the Project than the term described in this Section 7.6, such longer period shall apply.
Sample 1
Long-term Affordability. Owner agrees to extend the term of the XXXX as set out below, with the period indicated beginning with the first day of the Compliance Period. Any extension beyond 30 years constitutes an extension of the Extended Use Period and the term of the XXXX. Unless already waived in the Agreement, Owner can also agree that the provisions of Section 42(h)(6)(E)(i)(II) and 42(h)(6)(F) (the “Qualified Contract provisions”, which would permit Owner to terminate the restrictions under this Agreement at the end of the Compliance Period in the event that a qualified contract for the acquisition of the Project is not presented) do not apply to the Project. ◘ Owner agrees to extend the term of the XXXX to 40 years and agrees that Qualified Contract provisions do not apply to the Project. □ Owner agrees to extend the term of the XXXX to 35 years and agrees that Qualified Contract provisions do not apply to the Project. □ Owner agrees that the term of the XXXX is 30 years and agrees that Qualified Contract provisions do not apply to the Project. (4% projects only) □ Owner agrees that the term of the XXXX is 30 years and agrees that Qualified Contract provisions do not apply to the Project for 25 years. (4% projects only) 25. Economic Integration: □ The Project must provide at least 25% but not greater than 80% of the total units as HTC units, and, for the term of the XXXX, Owner must certify on an annual basis that the development complies.
Sample 1

Related to Long-term Affordability

  • Long Term Care The City may offer an option for employees to purchase a new long-term care benefit for themselves and certain family members.

  • Long-Term Incentives The Company shall provide the Executive the opportunity to earn long-term incentive awards under the current equity and cash based plans and programs or replacements therefor at a level commensurate with the current aggregate opportunity being provided to the Executive.

  • Long-Term Incentive The Company shall provide Employee an opportunity to participate in the Company’s applicable long term incentive plan as it may or may not exist from time to time.

  • Long Term Leave Any employee who declines a reappointment as a Teaching Assistant in order to interrupt his/her program of graduate study for a period not to exceed one (1) year will not jeopardize his/her consideration for reappointment under Article l3.03.

  • Long-Term Debt Unsecured notes payable to Department of Budget and Finance of the State of Hawaii and assigned by the Department to the indenture trustee for the payment of amounts owing to the holders of special purpose revenue bonds and refunding special purpose revenue bonds (subsidiary obligations unconditionally guaranteed by HECO): HECO, 6.50%, series 2009, due 2039 $ 90,000 HELCO, 6.50%, series 2009, due 2039 60,000 HECO, 4.65%, series 2007A, due 2037 100,000 HELCO, 4.65%, series 2007A, due 2037 20,000 MECO, 4.65%, series 2007A, due 2037 20,000 * HECO, 5.65%, series 1997A, due 2027 50,000 * HELCO, 5.65%, series 1997A, due 2027 30,000 * MECO, 5.65%, series 1997A, due 2027 20,000 HECO, 4.60%, refunding series 2007B, due 2026 62,000 HELCO, 4.60%, refunding series 2007B, due 2026 8,000 MECO, 4.60%, refunding series 2007B, due 2026 55,000 HECO, 4.80%, refunding series 2005A, due 2025 40,000 HELCO, 4.80%, refunding series 2005A, due 2025 5,000 MECO, 4.80%, refunding series 2005A, due 2025 2,000 * HECO, 5.00%, refunding series 2003B, due 2022 40,000 * HELCO, 5.00%, refunding series 2003B, due 2022 12,000 * HELCO, 4.75%, refunding series 2003A, due 2020 14,000 HELCO, 5.50%, refunding series 1999A, due 2014 11,400 Total obligations to the State of Hawaii 639,400 Other long-term debt – unsecured: HECO, 5.39%, series 2012E, unsecured senior note, due 20426.50 %, series 2004, junior subordinated deferrable interest debentures, due 2034HECO, 4.53%, series 2012F, unsecured senior note, due 2032HECO, 4.72%, series 2012D, unsecured senior note, due 2029HECO, 4.55%, series 2012C, unsecured senior note, due 2023HELCO, 4.55%, series 2012B, unsecured senior note, due 2023MECO, 4.55%, series 2012C, unsecured senior note, due 2023HECO, 4.03%, series 2012B, unsecured senior note, due 2020MECO, 4.03%, series 2012B, unsecured senior note, due 2020HECO, 3.79%, series 2012A, unsecured senior note, due 2018HELCO, 3.79%, series 2012A, unsecured senior note, due 2018MECO, 3.79%, series 2012A, unsecured senior note, due 2018 150,00051,54640,00035,00050,00020,00030,00062,00020,00030,00011,0009,000 Total long-term debt 1,147,946 Deposits are used to secure customers' accounts HECO $ 13,614 HELCO 3,853 MECO 4,409 Total customer deposits 21,876 * set to be refinanced/redeemed with the proceeds of the sale of Notes issued under (1) this Note Purchase Agreement, (2) the separate Note Purchase and Guaranty Agreements of HELCO and MECO, and/or (3) from available funds. Conditional notices of redemption have been given with respect to all three series of the bonds to be redeemed. Hawaiian Electric Company, Inc., Hawaii Electric Light Company, Inc. and Maui Electric Company, Limited are not generally subject to regulation by the Federal Energy Regulatory Commission (FERC) under the Federal Power Act, except that they are subject to the provisions of Section 210 under which FERC may order the utility to interconnect with qualifying cogenerators and small power producers and to wheel power to other electric utilities. Hawaiian Electric Company, Inc. is a holding company within the meaning of the Public Utility Holding Company Act of 2005 and would be subject to the record retention, accounting and reporting requirements of that Act except that it obtained a waiver from those requirements shortly after the Act was adopted. Hawaiian Electric Company, Inc. Hitachi Credit America Corp (as assignee of Xxxxxx Xxxxxxxxx Hawaii Funding Corp.) Hawaii 2001-180919 11/19/2001 All money due and coming due under a 2001 task order with a U.S. Navy agency for an energy efficiency project—remaining balance $1.1 million Hawaiian Electric Company, Inc. X.X. Xxxxxx Leasing, Inc. (assignment)PHNSY – ECPs 1 & 3) Hawaii 2004-085035 04/29/2004 Assignment or partial assignment from Hitachi of foregoing financing arrangement Hawaiian Electric Company, Inc. Hitachi Credit America Corp. Hawaii 2006-185362 10/10/2006 Continuation Statement of 2001-180919 continued for additional period provided by applicable law Hawaiian Electric Company, Inc. X.X. Xxxxxx Leasing Inc. Hawaii 2006-192912 10/23/2006 Continuation Statement of 2001-180919 continued for additional period provided by applicable law Hawaiian Electric Company, Inc. X.X. Xxxxxx Leasing Inc. Hawaii 2011-138648 08/30/2011 Continuation Statement of 2001-180919 continued for additional period provided by applicable law Hawaiian Electric Company, Inc. Hitachi Credit America Corp. Hawaii 2011-194210 11/18/2011 Continuation Statement of 2001-180919 continued for additional period provided by applicable law Hawaiian Electric Company, Inc. Xxxxxx Xxxxxxxxx Federal Government Receivables Trust (as assignee of Xxxxxx Xxxxxxxxx DSM Funding LLC) – XXXX KOA) Hawaii 2005-094089 05/11/2005 All money due and to become due under a 2004 delivery order from a U.S. Navy ordering agency relating to an energy efficiency project—remaining balance, $253,000 Hawaiian Electric Company, Inc. Xxxxxx Xxxxxxxxx Federal Government Receivables Trust Hawaii 2010-047285 04/08/2010 Continuation Statement of 2005-094089 continued for additional period provided by applicable law The following restrictions and conditions exist on October 3, 2013:

  • Long-Term Incentive Program During the Term, the Employee shall participate in all long-term incentive plans and programs of the Group that are applicable to its senior executives in accordance with their terms and in a manner consistent with his position with the Company.

  • Long Term Cost Evaluation Criterion # 4. READ CAREFULLY and see in the RFP document under "Proposal Scoring and Evaluation". Points will be assigned to this criterion based on your answer to this Attribute. Points are awarded if you agree not i ncrease your catalog prices (as defined herein) more than X% annually over the previous year for years two and thr ee and potentially year four, unless an exigent circumstance exists in the marketplace and the excess price increase which exceeds X% annually is supported by documentation provided by you and your suppliers and shared with TIP S, if requested. If you agree NOT to increase prices more than 5%, except when justified by supporting documentati on, you are awarded 10 points; if 6% to 14%, except when justified by supporting documentation, you receive 1 to 9 points incrementally. Price increases 14% or greater, except when justified by supporting documentation, receive 0 points. increases will be 5% or less annually per question Required Confidentiality Claim Form This completed form is required by TIPS. By submitting a response to this solicitation you agree to download from th e “Attachments” section, complete according to the instructions on the form, then uploading the completed form, wit h any confidential attachments, if applicable, to the “Response Attachments” section titled “Confidentiality Form” in order to provide to TIPS the completed form titled, “CONFIDENTIALITY CLAIM FORM”. By completing this process, you provide us with the information we require to comply with the open record laws of the State of Texas as they ma y apply to your proposal submission. If you do not provide the form with your proposal, an award will not be made if your proposal is qualified for an award, until TIPS has an accurate, completed form from you. Read the form carefully before completing and if you have any questions, email Xxxx Xxxxxx at TIPS at xxxx.xxxxxx@t xxx-xxx.xxx If the vendor is awarded a contract with TIPS under this solicitation, the vendor agrees to make any Choice of Law c lauses in any contract or agreement entered into between the awarded vendor and with a TIPS member entity to re ad as follows: "Choice of law shall be the laws of the state where the customer resides" or words to that effect. Agreed In the event of litigation or use of any dispute resolution model when resolving disputes with a TIPS member entity a s a result of a transaction between the vendor and TIPS or the TIPS member entity, the Venue for any litigation or ot her agreed upon model shall be in the state and county where the customer resides unless otherwise agreed by the parties at the time the dispute resolution model is decided by the parties. Agreed

  • Long Term Upon written request from the Executive Director of AFSCME Council 75 to DAS Labor Relations Unit, one (1) President/designee from an AFSCME Council 75 Central Table participating Agency shall be given release time from his/her position for a period of time up to one (1) year for the performance of Union duties related to the collective bargaining relationship. However, if the Union President/designee or Executive Director requests release time for less than his/her full regular schedule, such release time shall be subject to the Employer’s approval based on the operating needs of the employee’s work unit. AFSCME shall, within thirty (30) days of payment to the employee, reimburse the State for payment of appropriate salary, benefits, paid leave time, pension, and all other employer-related costs. Where this reimbursement is expressly prohibited by law or funding source, the employee shall be granted a leave of absence but the Employer will not be responsible for continuing to pay the employee’s salary and benefits. AFSCME shall indemnify and hold the State harmless against any and all claims, damages, suits, or other forms of liability which may arise out of any action taken or not taken by the State for the purpose of complying with this provision.

  • Long-Term Incentive Plans During the Employment Period, the Executive shall be eligible to participate in any long term incentive compensation plan maintained by the Company on the terms established from time to time by the Board or the Compensation Committee of the Board, as applicable.

  • Long Term Care Insurance The University offers full-time faculty the opportunity to purchase Long-Term Care Insurance through a voluntary Long-Term Care Insurance policy. Faculty members are responsible for 100% of the premium, which may be remitted through payroll deduction.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!