OPERATION OF AFFORDABLE HOUSING Sample Clauses

OPERATION OF AFFORDABLE HOUSING. 4.1 The Proponent agrees to undertake its Project in accordance with the provisions relating to the development of the Project contained in the Program Guidelines and in conformity with its proposal submitted to the County; specifically, the Proponent warrants that all Units shall remain affordable for a minimum period of ten (10) years calculated from the Date of Completion of the Project. This ten (10) year period includes a five (5) year term during which the Proponent will operate the Project as social housing under the Housing Services Act, 2011, as amended. 4.2 At no time during the ten (10) year period set out in paragraph 4.1 above shall a Unit funded through the Project have a rent that is greater than the Affordable Rent for the geographic area in which it is located. 4.3 This Project will adhere to the Project Information Form (PIF), attached hereto as Schedule ‘C’. 4.4 The Proponent acknowledges and understands that Funding is based on the PIF, and the Proponent further acknowledges and understands that the Minister has absolute discretion to determine whether a PIF complies with XXXXX and OPHI Program Guidelines. 4.5 The Funding shall be fully forgiven on the last day at the end of the 10 year period set out in paragraph 4.1 provided that the Proponent has fulfilled all the requirements of the Program as set out in this Agreement, and to the satisfaction of the County.
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OPERATION OF AFFORDABLE HOUSING. 4.1 The Proponent acknowledges and agrees that the Rental Protocol set out in Schedule "D" applies to the Project by virtue of the contractual terms of this Agreement, notwithstanding that the Rental Protocol does not apply to the Project under the Residential Tenancies Act, 2006. 4.2 Prior to occupancy of a unit, the tenant shall be subject to review and approval of the Service Manager for compliance with the Program requirements. The Proponent shall provide written notice to each prospective first tenant regarding the review by the Service Manager. 4.3 The Proponent agrees to operate the Units in accordance with the rules set out in Schedule "D" of this Agreement. 4.4 The City requires that the Proponent provide XX units for singles, couples, working poor, recent immigrants, supportive housing and Aboriginal people. 4.5 The City requires that 2/3 of units in the project will not exceed 80% or less of the CMHC AMR as outlined in Schedule “D”. Rent increases may follow the Residential Tenancies Act, 2006 rent increase guidelines but must not exceed 80% of the CMHC AMR for the term of the agreement. At initial occupancy, the rent for a one bedroom apartment will be $563 including items listed in section 4.7. This rent will not be adjusted prior to occupancy. 4.6 The City requires that 1/3 of the units in the project will not exceed 70% or less of the CMHC AMR as outlined in Schedule “D”. Rent increases may follow the Residential Tenancies Act, 2006 rent increase guidelines but must not exceed 70% of the CMHC AMR for the term of the agreement. Tenants for these units must be from the Housing Access Centre’s Waiting List. At initial occupancy, the rent for a one bedroom apartment will be $493 including items listed in section 4.7. This rent will not be adjusted prior to occupancy. 4.7 The City requires that the Affordable Rent for a project include the fridge, stove, unit heat, water and parking. 4.8 This Project will adhere to the Occupancy Standards as outlined in Schedule “O”. These standards determine the size and type of unit in respect of which a household can occupy under the IAH.
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OPERATION OF AFFORDABLE HOUSING. 4.1 The Proponent acknowledges and agrees that the Rental Protocol set out in Schedule “D” applies to the Project by virtue of the contractual terms of this Agreement, notwithstanding that the Rental Protocol does not apply to the Project under the Residential Tenancies Act, 2006. 4.2 The Proponent agrees to operate the Units in accordance with the rules set out in Schedule “D” of this Agreement.
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OPERATION OF AFFORDABLE HOUSING. 4.1 The Proponent acknowledges and agrees that the Rental Protocol set out in Schedule “C” applies to the Project by virtue of the contractual terms of this Agreement, notwithstanding that the Rental Protocol does not apply to the Project under the Residential Tenancies Act, 2006. 4.2 Prior to occupancy of a unit, the tenant shall be subject to review and approval of the County, for compliance with the Program requirements. The Proponent shall provide written notice to each prospective first tenant regarding the review by the County. 4.3 The Proponent agrees to undertake its Project in accordance with the provisions relating to the development of the Project contained in the Program Guidelines and in conformity with its proposal submitted to the County; specifically, the Proponent warrants that all Units shall remain affordable for a minimum period of twenty (20) years calculated from the time of occupancy. A unit shall be deemed affordable if average rents are at or below 80% of Average Market Rent, taking into consideration actual rents paid by tenants and any rent supplements provided through the County. 4.4 At no time during the twenty (20) year period set out in paragraph 4.3 above shall a Unit funded through the Project have a rent that is greater than Average Market Rent for the geographic area in which it is located. 4.5 The County requires that the Affordable Rent for each unit include the fridge, stove, heat, laundry equipment and one parking space for the development. 4.6 This Project will adhere to the Occupancy Standards as outlined in Schedule “M”.
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OPERATION OF AFFORDABLE HOUSING. 4.1 The Proponent acknowledges and agrees that the Rental Protocol set out in Schedule “D” applies to the Project by virtue of the contractual terms of this Agreement, notwithstanding the Residential Tenancies Act, 2006, if applicable, and the regulations thereto. 4.2 The Proponent agrees to operate the Units in accordance with the rules set out in Schedule “D” of this Agreement, provided that the Proponent acknowledges that (1) where CMHC does not determine the average market rents for the County of Oxford, the average shall be as determined by the County ; and (2) the initial rent shall be the Affordable Rent.
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OPERATION OF AFFORDABLE HOUSING. 4.1 The Proponent agrees to provide [ ] of Affordable Rental Housing Units at 80% of Median Market Rent during the Affordability Period of 20 years. 4.2 The Proponent shall provide [ ] of Affordable Rental Housing units for singles, couples, seniors, working poor, recent immigrants, persons with disabilities, and Indigenous people during the Affordability Period of 20 years 4.3 Of the [ ] Affordable Rental Housing Units, the Proponent agrees to provide [ ] of Supportive Housing Units during the Affordability Period of 20 years. 4.4 Of the [ ] Affordable Rental Housing Units, the Proponent agrees to provide [ ] of Accessible Units during the Affordability Period of 20 years. 4.5 The Proponent agrees to operate the Affordable Rental Housing Units in accordance with the rules set out in Schedule B of this Agreement. 4.6 The Proponent acknowledges and agrees that the Rental Protocol set out in Schedule B applies to the Project by virtue of the contractual terms of this Agreement, notwithstanding that the Rental Protocol does not apply to the Project under the Residential Tenancies Act, 2006. 4.7 Prior to occupancy of a Unit, the tenant eligibility may be subject to review and approval of the City. If review and approval are required by the City, the Proponent shall provide written notice to each prospective first tenant regarding the review by the City. 4.8 The Affordable Rent for the Project shall include a fridge, stove, water and heat. 4.9 The Proponent shall contribute a minimum of 4% of rental income annually to a designated reserve fund account and provide account information to the City annually, if requested.
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OPERATION OF AFFORDABLE HOUSING 
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Related to OPERATION OF AFFORDABLE HOUSING

  • Affordable Housing Owner shall set aside and reserve ten percent (10%) of the total multifamily residential units located in the Project as affordable housing units consistent with the terms set forth herein, for Income Eligible Residents earning in the aggregate no more than sixty percent (60%) of AMI. The published income limits will be adjusted by household size. The income limits will be adjusted annually according to the HUD published limits. To that end, no fewer than the number of multifamily units in the Project set forth in the table below shall, pursuant to the terms and conditions of a Land Use Restriction Agreement (i.e., the “XXXX”) in substantially the form attached hereto as “Attachment 1” to this Schedule P and incorporated herein by reference. Capitalized terms used but not defined in this Schedule but which are defined in the XXXX shall have the same meaning herein as therein. Each Phase of the Project shall have no few than the number of Affordable Housing Units allocated to it in in the table below. The table is as follows: PHASES AFFORDABLE HOUSING UNITS ALLOCATED TO PHASE PHASE 1 446 PHASE 2 300 PHASE 3 240 986 PRO FORMA TOTAL MULTIFAMILY UNITS IN THE PROJECT 10% 99 TOTAL AFFORDABLE UNITS Each such Affordable Unit in a Phase will be made available for a period of time not less than twenty (20) years following the date on which the last multifamily building of a Phase receives a permanent certificate of occupancy (each, an “Affordable Housing Compliance Period”), to Income Eligible Residents as defined in the XXXX. Such requirements shall be referred to with respect to each Phase as the “Affordable Housing Requirements.” The foregoing Affordable Housing Requirements will be set forth in the XXXX in such form as is consistent with the then applicable practices of ACC for similar affordable housing transactions, provided that such form does not alter the Affordable Housing Requirements set forth in this Agreement, permits transferability and release consistent with Section 12.4 hereof, and does not increase the obligations of Owner, its successors and assigns. The current form of XXXX is attached “Attachment 1” to this Schedule P. Upon approval of a subsequent form of XXXX by ACC and review and approval by the Owner consistent with the foregoing, the subsequent form of the XXXX may be affixed hereto as “Attachment 1” to this Schedule P without further amendment to this Agreement. The XXXX shall be recorded in the Athens-Xxxxxx County land records in customary fashion upon the submission of the initial and Requisition and shall be recorded only against the applicable parcel on which such units are constructed. The Affordable Housing Requirements are part of this Agreement, and the failure by Owner to comply with same shall be an Event of Default under this Agreement. The Affordable Housing Requirements shall terminate with respect to each such Phase of the Project, respectively, upon conclusion of the Affordable Housing Compliance Period for such Phase as set forth in the applicable XXXX. For purposes of compliance with O.C.G.A. §44-5-60, the parties understand and agree that no XXXX will have a period greater than 20 years, but that this Agreement shall automatically terminate upon the expiration of a XXXX if simultaneously therewith Owner does not enter into a new, replacement XXXX that extends for the lesser of 20 years or the period necessary that the 20 year Affordability Housing Requirements are satisfied on a cumulative basis.

  • PROFESSIONAL DEVELOPMENT AND EDUCATIONAL IMPROVEMENT A. Tuition costs incurred by administrator shall be reimbursed by the Board of Education under the following terms and conditions: 1. Tuition costs eligible for reimbursement must be for courses in the field of education. In addition, courses not in the field of education but closely related may be approved for reimbursement at the sole discretion of the Superintendent or his/her designee in advance of enrollment. Reimbursement will not be made until satisfactory evidence of having received a passing grade is presented. 2. Reimbursement for actual tuition costs incurred by a member shall be limited to a maximum reimbursement of the average tuition cost for twelve (12) graduate/Doctoral level credits at the following four (4) state universities: Rutgers, Rowan, College of New Jersey, and Montclair computed annually. Masters’ degree maximum will be limited to the average Masters’ level cost and Doctorate degree maximum will be limited to the average Doctoral level cost. 3. The date on which a course is completed will determine the contract year in which the credits will be applicable for reimbursement. 4. Non-tenured members shall be eligible for reimbursement at the level set forth in Subsection 2 above, for tuition costs incurred for graduate credits earned during a period after the award of a first-year contract, but prior to the commencement of work under a tenured contract; provided however, such reimbursement shall not be payable to such member unless and until said member has commenced work under a tenure contract. 5. Upon satisfactory compliance by the member with all of the terms and conditions set forth in the preceding subsections, such member shall be paid his/her reimbursement entitlement on either October 2 for the prior Spring and Summer course work taken, or April 1 for the prior Fall course work provided that the member is still in the employ of the Board on such date. Such payment shall be further conditioned on said member remaining in the employ of the Board for the remainder of the current school year. In the event that such member shall leave the employ of the Board prior to the expiration of the school year in which such reimbursement entitlement has been paid, such member shall be obligated to refund to the Board the entire reimbursement paid to him/her during such school year, and for such purpose, the Board shall be empowered to deduct said sum from such member’s salary payments. 6. No member shall be eligible for tuition reimbursement in connection with tuition costs incurred that are paid by the Veteran’s Administration or any other outside agency. 7. Upon earning tenure in the district as an administrator, the Board of Education shall reimburse the administrator costs associated with their participation in the New Jersey State Mentoring and Assessment Program. Participation in the Mentoring and Assessment Program must have occurred entirely during the time of employment in the Washington Township Public School District.

  • Health Care Spending Account After six (6) months of permanent employment, full time and part time (20/40 or greater) employees may elect to participate in a Health Care Spending Account (HCSA) Program designed to qualify for tax savings under Section 125 of the Internal Revenue Code, but such savings are not guaranteed. The HCSA Program allows employees to set aside a predetermined amount of money from their pay, not to exceed the maximum amount authorized by federal law, per calendar year, of before tax dollars, for health care expenses not reimbursed by any other health benefit plans. HCSA dollars may be expended on any eligible medical expenses allowed by Internal Revenue Code Section 125. Any unused balance is forfeited and cannot be recovered by the employee.

  • Employment Relations Education Leave Employment Relations Education Leave will be allowed in accordance with the Employment Relations Act.

  • Professional and Education Leaves (a) Leave of absence with pay or without pay may be granted to employees to attend professional and educational meetings, courses, or other events which may be judged beneficial to the employee's professional development, especially as it relates to her responsibilities with the Employer.

  • Selection Planning Prior to the issuance to consultants of any requests for proposals, the proposed plan for the selection of consultants under the Project shall be furnished to the Association for its review and approval, in accordance with the provisions of paragraph 1 of Appendix 1 to the Consultant Guidelines. Selection of all consultants’ services shall be undertaken in accordance with such selection plan as shall have been approved by the Association, and with the provisions of said paragraph 1.

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