Number of Affordable Units Sample Clauses

Number of Affordable Units. Participant agrees to make available, restrict occupancy to, and rent all of the Required Affordable Units at Affordable Rent. There shall be four (4) Required Affordable Units on the Site, all of which shall remain available at Affordable Rent, all of which are one (1) bedroom, one (1) bath units, three of which shall be available to and occupied by Low Income Households and one of which shall be available to and occupied by Very Low Income Households. An example of the calculation of Affordable Rent for the Required Affordable Units is attached hereto as Attachment No. 5 and incorporated herein; provided that in the event of conflict between such example and the definitions contained within the body of this Agreement, the definitions shall control: the Affordable Rent for the Housing Units to be rented to Low Income Households shall not exceed one-twelfth (1/12) of thirty percent (30%) of sixty percent (60%) of Median Income for Riverside County as determined and published annually by TCAC for a family of a size appropriate to the unit, or, if lower, rents determined in accordance with the HOME Regulations. The Affordable Rent for the Housing Units to be rented to Very Low Income Households shall not exceed one-twelfth (1/12) of thirty percent (30%) of fifty percent (50%) of Median Income for Riverside County as determined and published annually by TCAC for a family of a size appropriate to the unit, or, if lower, rents determined in accordance with the HOME Regulations. Participant shall, and shall cause its Property Manager to, operate the Project and cause occupancy of all Housing Units thereon in conformity with these covenants and this Agreement.
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Number of Affordable Units. Developer shall construct, or cause to be constructed, at least ( ) Affordable Units, of which ( ) shall be to Moderate Income Affordable Units, ( ) shall be to Lower Income Affordable Units, and ( ) shall be to Very Low Income Affordable Units.
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Number of Affordable Units. Marketing Plan
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Number of Affordable Units. 401.1 Affordable Units During Years 0-10. During at least the first ten (10) Years following the date of the HAP Contract and continuing throughout the entire term of effectiveness of the HAP Contract including all extensions and renewals thereof, Developer agrees to make available, restrict occupancy to, and rent forty eight (48) of the Housing Units to eligible Extremely Low Income Households at an Affordable Rent that shall not exceed the rent payable by such tenant(s) pursuant to the terms of the HAP Contract, i.e., thirty percent (30%) of each tenant household’s actual income.
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Number of Affordable Units. DEVELOPER agrees to make available, restrict occupancy to, and rent all seven (7) of the HOME-assisted floating Housing Units to 50% AMI Households at an Affordable Rent (as those terms are defined herein).
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Number of Affordable Units. The Development shall include Affordable Units on the Site. The number of Affordable Units shall be equal to the greater of (a) twenty percent of the total number of rental apartment units constructed on the Site, or (b) fifteen percent of the total number of Housing Units constructed on the Site and on the Gatehouse portion of the Hollywood and Vine Mixed-Use Development Project.
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Number of Affordable Units. Within each Market Rate Rental Element, which Elements will not be eligible for any public finance assistance, at least one percent of the Housing Units within each such Market Rate Rental Element must be Affordable Units leased at rates which are considered affordable, in accordance with standards established by HUD, to households earning 60% AMI or less, and such one percent requirement will be calculated as follows: (i) A Market Rate Rental Element consisting of 0-100 dwelling units, must include at least one Affordable Unit. (ii) A Market Rate Rental Element consisting of 101-199 dwelling units, must include at least two Affordable Units. (iii) A Market Rate Rental Element consisting of 200-299 dwelling units, must include at least three Affordable Units. (iv) A Market Rate Rental Element consisting of 300-399 dwelling units, must include at least four Affordable Units.
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Number of Affordable Units. DEVELOPER agrees to make available, restrict occupancy to, and rent two (2) of the PLHA-assisted Housing Units to 60% AMI Households and two (2) of the PLHA-assisted Housing Units to 120% AMI Households, all at an Affordable Rent (as those terms are defined herein).
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Number of Affordable Units. The Owner agrees it will provide and manage
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Related to Number of Affordable Units

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