Common use of Long-Term Occupancy Requirements Clause in Contracts

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.