Monitoring and First Right of Refusal Sample Clauses

Monitoring and First Right of Refusal. In the case of rental housing, the staff or entity that has administrative authority for implementing the local housing assistance plan assisting rental developments shall annually monitor and determine tenant eligibility or, to the extent another governmental entity provides the same monitoring and determination, a municipality, county or local housing financing authority may rely on such monitoring and determination of tenant eligibility. However, any loan or grant in the original amount of $3,000 or less shall not be subject to these annual monitoring and determination of tenant eligibility requirements. Tenant eligibility will be monitored for at least annually for 15 years or the term of assistance which ever is longer unless as specified above. For those developments that the Florida Housing Finance Corporation provides the same monitoring and determination, the City of Gainesville may rely on such monitoring and determination of tenant eligibility. Eligible sponsors that offer rental housing for sale before 15 years or that have remaining mortgages funded under this program must give a first right of refusal to eligible nonprofit organizations for purchase at the current market value for continued occupancy by eligible persons.
Sample 1
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Monitoring and First Right of Refusal. “In the case of rental housing, the staff… that • Advertising requirements • Administration caps • Maximum per unit award • Mortgage payment should be affordable • Loan terms • Number of affordable units • Lease requirements • Over income tenants • Utility allowance • Maintenance of units • Marketing requirements • Energy improvements • Program income • Reporting requirements • Record keeping • audits • Funding sources • Use of funds • Amount of funds • Roles and responsibilities • Performance Standards • Program requirements • Project requirements • Insurance • Affordability • Duration of agreement • timeline • Disbursement of funds/payment • Record retention and reports • Reversion of assets • Default • monitoring • Close out requirements • When does the project start and end • Who gets the permits & pays for them • Expectations of homeowner – Property access – Owner on‐site during construction – Owner‐requested changes and additions to work specifications • Who pays for utilities needed during construction • Tool/material storage • Site clean‐up • Sanctions for non‐performance of contractor • Who may issue a stop‐work order • Conditions for termination of contract • How disputes will be handled • Warranty information • Provide access to home during normal work hours • Provide water and electricity to contractors • Keep pets and children contained • Store and protect valuables • Let contractors do their job • Communicates problems as soon as they occur • Evaluates contractors • On job during normal work hours • Clean up each day after they are done • Avoid damage to owners personal property • Advise the owner in a timely fashion if they are going to be late or not show up • Advise the City/County as soon as possible of disputes • Supply storage, sanitation unit, and dumpster • Warranty and Guarantee • Income Categories served • Local Policy: Define First Time Homebuyer Affordability restrictions • Income targeting • Eligibility determination Maximum award • Reference FHFC website for most updated limits (currently IRS Rev. Proclamation 2016‐25) • Activity • Project description • address • Total SHIP units/total units • Unit Sizes • Maximum award per unit/or per project • timeline • Fixed/floating • Marketing • Beneficiaries/special needs • Income targeting • Tenant rent and utility allowance • Lease provisions if any • Affordability Period (minimum 15 years) • Annual verification of eligibility • Over income • Details of Annual Monitoring – Required annu...
Sample 1

Related to Monitoring and First Right of Refusal

  • Right of Refusal Vendor has the right not to sell to a TIPS Member under the awarded agreement at Vendor’s discretion unless otherwise required by law.

  • Right of First Refusal Unless it shall have first delivered to the Buyer, at least seventy two (72) hours prior to the closing of such Future Offering (as defined herein), written notice describing the proposed Future Offering, including the terms and conditions thereof, and providing the Buyer an option during the seventy two (72) hour period following delivery of such notice to purchase the securities being offered in the Future Offering on the same terms as contemplated by such Future Offering (the limitations referred to in this sentence and the preceding sentence are collectively referred to as the “Right of First Refusal”) (and subject to the exceptions described below), the Company will not conduct any equity financing (including debt with an equity component) (“Future Offerings”) during the period beginning on the Closing Date and ending twelve (12) months following the Closing Date. In the event the terms and conditions of a proposed Future Offering are amended in any respect after delivery of the notice to the Buyer concerning the proposed Future Offering, the Company shall deliver a new notice to the Buyer describing the amended terms and conditions of the proposed Future Offering and the Buyer thereafter shall have an option during the seventy two (72) hour period following delivery of such new notice to purchase its pro rata share of the securities being offered on the same terms as contemplated by such proposed Future Offering, as amended. The foregoing sentence shall apply to successive amendments to the terms and conditions of any proposed Future Offering. The Right of First Refusal shall not apply to any transaction involving (i) issuances of securities in a firm commitment underwritten public offering (excluding a continuous offering pursuant to Rule 415 under the 1933 Act), (ii) issuances to employees, officers, directors, contractors, consultants or other advisors approved by the Board, (iii) issuances to strategic partners or other parties in connection with a commercial relationship, or providing the Company with equipment leases, real property leases or similar transactions approved by the Board (iv) issuances of securities as consideration for a merger, consolidation or purchase of assets, or in connection with any strategic partnership or joint venture (the primary purpose of which is not to raise equity capital), or in connection with the disposition or acquisition of a business, product or license by the Company. The Right of First Refusal also shall not apply to the issuance of securities upon exercise or conversion of the Company’s options, warrants or other convertible securities outstanding as of the date hereof or to the grant of additional options or warrants, or the issuance of additional securities, under any Company stock option or restricted stock plan approved by the shareholders of the Company.

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