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.
(ii) When a unit is or becomes vacant prior to [insert date 1 year from the date of initial notice of effective termination date under the curative notice provisions of 760 CMR 64.03 (5)], the Grantor will take reasonable and diligent actions to rent the unit to a tenant qualified under the program until [insert date 2 years from the date of initial the Grantor is unable to fill such unit with a qualified tenant after taking reasonable and diligent actions, the Grantor may only fill such a unit with a non-qualifying tenant after notifying DHCD and providing DHCD with fourteen (14) days to identify a qualifying tenant.
(iii) 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.
Low Income Units. All one hundred sixty-seven (167) of the Available Units in the Project shall be rented to and continuously occupied by households who qualify as Low-Income Tenants. The monthly rent charged for all the Low-Income Units shall not exceed one-twelfth of the amount obtained by multiplying 30% times 60% the Median Income for the Area, less the utility allowance. The occupancy and rent restrictions set forth in this subsection (i) may be adjusted as permitted in the Declaration of Restrictions – MOHCD Loan.
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.
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.
Low Income Units. During the Term Developer shall cause
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.
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.
Low Income Units. Units in the Development, shall be rented to and occupied by or, if vacant, available for occupancy by Low Income Households.
