Low Income Units Sample Clauses

Low Income Units. (i) At least of the Units[, which shall be in addition to any units provided for in (B) and (C) of this Paragraph 3,] shall be leased to Low Income Tenants (“Low Income Units”). The tenants’ portions of monthly rent as of [insert termination date of the program restriction] for the Low Income Units are set forth in Exhibit B, Current Schedule Rents annexed hereto and incorporated herein. Until [insert date 2 years from the date of initial notice of effective termination date under the curative notice provisions of 760 CMR 64.03 (5)], the tenant’s portion of rents may only be increased to the extent that rent increases would be permitted if the Project were still subject to the program and must follow the procedures for determining the amount of the increase, as required by the program.
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Low Income Units. New tax-credit units will increase the City’s affordable housing stock and be available to qualifying low-income households earning up to 60% of AMI. Households will be selected per the policies and procedures of the Mayor’s Office of Housing and Community Development.
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Low Income Units. During the Term Developer shall cause Units to be rented to and occupied by or, if vacant, available for occupancy by, Low Income Households.
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Low Income Units. All of the Available Units in the Project shall be rented to and continuously occupied by households who qualify as Low-Income. The monthly rent charged for all the Low Income Units, shall not exceed one-twelfth (1/12) of the amount obtained by (a) multiplying thirty percent (30%) times sixty percent (60%) of the lower of City Median Income or the Median Income for the Area, (b) less the utility allowance. The monthly rent charged for all Low Income Units receiving the Section 8 subsidy shall be as determined by HUD pursuant to the HAP Contract.
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Low Income Units. At least _____ of the Units shall be leased to Low Income Tenants (“Low Income Units”). The tenants’ portions of monthly rent as of [insert termination date of the __________program restriction] for the Low Income Units are set forth in Exhibit B, Current Schedule Rents annexed hereto and incorporated herein. Until [insert date 2 years from the date of initial notice of effective termination date under the curative notice provisions of 760 CMR 64.03 (5)], the tenant’s portion of rents may only be increased to the extent that rent increases would be permitted if the Project were still subject to the ___________ program and must follow the procedures for determining the amount of the increase, as required by the ___________ program. In addition, for three (3) years beginning on [insert date 2 years from the date of initial notice of effective termination date under the curative notice provisions of 760 CMR 64.03 (5)], the tenant’s portion of rent for those tenants who are “protected low-income tenants” as defined in the Act on [insert date 2 years from the date of initial notice of effective termination date under the curative notice provisions of 760 CMR 64.03 (5)] may not be increased more than once annually by the amount permitted under M.G.L. c. 40T, § 7, (“Section 7”) as further detailed in such Regulations and guidance as may be issued by from time to time by DHCD to effectuate the purposes and implementation of such Section 7.
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Low Income Units. Units in the Development, shall be rented to and occupied by or, if vacant, available for occupancy by Low Income Households.
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Low Income Units. The balance of the BMR Units constructed (except an unit to be occupied by a resident manager) shall be designated and rented to qualified Low- Income Households (household income at or below 60 percent of the AMI) at rents controlled by this Agreement.
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Related to Low Income Units

  • When Can I Make Contributions You may make annual contributions to your Xxxx XXX any time up to and including the due date for filing your tax return for the year, not including extensions. You may continue to make regular contributions to your Xxxx XXX even after you attain RMD age. In addition, rollover contributions and transfers (to the extent permitted as discussed below) may be made at any time, regardless of your age.

  • Can I Roll Over or Transfer Amounts from Other IRAs You are allowed to “roll over” a distribution or transfer your assets from one Xxxx XXX to another without any tax liability. Rollovers between Xxxx IRAs are permitted every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, Xxxx, SEP, and SIMPLE IRAs owned. If you are single, head of household or married filing jointly, you may convert amounts from another individual retirement plan (such as a Traditional IRA) to a Xxxx XXX, there are no AGI restrictions. Mandatory required minimum distributions from Traditional IRAs, must be removed from the Traditional IRA prior to conversion. Rollover amounts (except to the extent they represent non-deductible contributions) are includable in your income and subject to tax in the year of the conversion, but such amounts are not subject to the 10% penalty tax. However, if an amount rolled over from a Traditional IRA is distributed from the Xxxx XXX before the end of the five-tax-year period that begins with the first day of the tax year in which the rollover is made, a 10% penalty tax will apply. Effective in the tax year 2008, assets may be directly rolled over (converted) from a 401(k) Plan, 403(b) Plan or a governmental 457 Plan to a Xxxx XXX. Subject to the foregoing limits, you may also directly convert a Traditional IRA to a Xxxx XXX with similar tax results. Furthermore, if you have made contributions to a Traditional IRA during the year in excess of the deductible limit, you may convert those non-deductible IRA contributions to contributions to a Xxxx XXX (assuming that you otherwise qualify to make a Xxxx XXX contribution for the year and subject to the contribution limit for a Xxxx XXX). You must report a rollover or conversion from a Traditional IRA to a Xxxx XXX by filing Form 8606 as an attachment to your federal income tax return. Beginning in 2006, you may roll over amounts from a “designated Xxxx XXX account” established under a qualified retirement plan. Xxxx XXX, Xxxx 401(k) or Xxxx 403(b) assets may only be rolled over either to another designated Xxxx Qualified account or to a Xxxx XXX. Upon distribution of employer sponsored plans the participant may roll designated Xxxx assets into a Xxxx XXX but not into a Traditional IRA. In addition, Xxxx assets cannot be rolled into a Profit-Sharing-only plan or pretax deferral-only 401(k) plan. In the event of your death, the designated beneficiary of your Xxxx 401(k) or Xxxx 403(b) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary Xxxx XXX account. Strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing any type of rollover.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • VACANCIES, PROMOTIONS AND TRANSFERS A. The Board recognizes that it is desirable in making assignments to consider the educational goals of the district and the interests and aspirations of its teachers. Requests by a teacher for transfer to a different class, building, or position shall be made in writing, one (1) copy of which shall be filed with the Association. The application shall set forth the applicant’s academic qualifications. Such requests shall be reviewed once each year to assure active consideration by the Board.

  • Rollover Contributions and Transfers The Custodian shall have the right to receive rollover contributions and to receive direct transfers from other custodians or trustees. All contributions must be made in cash or check.

  • Contributions for OTPP Plan Members i. When an employee/plan member is on short term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OTPP contributions based on 100% of the employee/plan member’s regular pay.

  • USING YOUR ACCOUNT If you are approved for an account, the Credit Union will establish a line of credit for you. You agree that your credit limit is the maximum amount (purchases, cash advances, finance charges, plus "other charges") which you will have outstanding on your account at any time. Unless disclosed otherwise, the Credit Union will not allow advances over the credit limit. If the Credit Union has a program whereby it allows payment of advances that exceed your credit limit, subject to a fee, the Credit Union will provide you with notice, either orally, in writing, or electronically (notwithstanding the requirements of the paragraph entitled “Statements and Notices”) explaining your right to opt in to the Credit Union’s program whereby it will honor advance requests over the credit limit. In the event you opt in to such a program, you agree to the terms of such a program. You may request an increase in your credit limit only by a method acceptable to the Credit Union. The Credit Union may increase or decrease your credit limit, refuse to make an advance and/or terminate your account at any time for any reason not prohibited by law. If you are permitted to obtain cash advances on your account, we may, from time to time, issue convenience checks to you that may be drawn on your account. Convenience checks may not be used to make a payment on your account balance. If you use a convenience check, it will be posted to your account as a cash advance. We reserve the right to refuse to pay a convenience check drawn on your account for any reason and such refusal shall not constitute wrongful dishonor. You may request that we stop the payment of a convenience check drawn on your account. You agree to pay any fee imposed to stop a payment on a convenience check issued on your account. You may make a stop payment request orally, if permitted, or in writing. Your request must be made with sufficient time in advance of the presentment of the check for payment to give us a reasonable opportunity to act on your request. In addition, your request must accurately describe the check including the exact account number, the payee, any check number that may be applicable, and the exact amount of the check. If permitted, you may make a stop payment request orally but such a request will expire after 14 days unless you confirm your request in writing within that time. Written stop payment orders are effective only for six months and may be renewed for additional six month periods by requesting in writing that the stop payment order be renewed. We are not required to notify you when a stop payment order expires. If we re-credit your account after paying a check or draft over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to assign to us all of your rights against the payee or other holders of the check or draft and to assist us in any legal action. You agree to indemnify and hold us harmless from all costs and expenses, including attorney's fees, damages, or claims, related to our honoring your stop payment request or in failing to stop payment of an item as a result of incorrect information provided to us or the giving of inadequate time to act upon a stop payment request.

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