Long-Term Occupancy Requirements Sample Clauses

Long-Term Occupancy Requirements. Notwithstanding anything herein to the contrary, Developer must use, at a minimum, 51% of the total number of Units for affordable rental housing for Low- to Moderate-Income Households at the later of the time of occupancy of the Property or the time when funds are invested pursuant to the CDBG-DR Program in connection with the Property. Developer shall designate, at a minimum, forty-one (41) (51%) of the eighty (80) total Units as Qualifying Units to be occupied by Low- to Moderate-Income Households.
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Long-Term Occupancy Requirements. Notwithstanding anything herein to the contrary, at the time of occupancy of the Property or the time funds are invested pursuant to CDBG Program in connection with the Property, whichever is later, Developer must make, at a minimum, 51% of the total number of units must be used for affordable rental housing for low- and moderate-income persons or households earning 80% or less of the Area Median Family Income.
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Long-Term Occupancy Requirements. Pursuant to subsection (a) of this Section 6.1 of the Contract and the XXXX, during the Contract Period or Affordability Period, whichever period is longer, following the initial occupancy period, Development Owner will make available for occupancy to: Low Income Families whose Annual Incomes do not exceed eighty percent (80%) of the Area Median Income not less than ■ [floating][fixed] [■OPTIONAL IF FIXED UNITS- Qualifying] Units of the Qualifying Units; Low Income Families whose Annual Incomes do not exceed sixty percent (60%) of the Area Median Income not less than■ [floating][fixed] [■OPTIONAL IF FIXED UNITS- Qualifying] Units of the Qualifying Units; Very Low Income Families whose Annual Incomes do not exceed fifty percent (50%) of the Area Median Income not less than ■ [floating][fixed] [■OPTIONAL IF FIXED UNITS-Qualifying] Units of the Qualifying Units; Very Low Income Families whose Annual Incomes do not exceed forty percent (40%) of the Area Median Income not less than ■ [floating][fixed] [■OPTIONAL IF FIXED UNITS-Qualifying] Units of the Qualifying Units; and Extremely Low Income Families whose Annual Incomes do not exceed thirty percent (30%) of the Area Median Income the remaining ■ [■OPTIONAL IF FIXED UNITS- Qualifying] Units of the Qualifying Units ■ [floating][fixed] [and the Qualifying Units cannot be Units that have other rental assistance except if no other Unit is available for an applicant with a tenant-based voucher]; .
Sample 1
Long-Term Occupancy Requirements. Pursuant to the XXXX and subsection (a) of this Section 6.1 of the Contract, during the Contract Period or XXXX Term, whichever period is longer, following the initial occupancy period, Development Owner will make available for occupancy to: Extremely Low Income Families whose Annual Incomes do not exceed thirty percent (30%) of the Area Median Income the ■ [floating][fixed] Units of the Qualifying Units.
Sample 1

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