Common use of Over-Income Tenants Clause in Contracts

Over-Income Tenants. Notwithstanding the foregoing provisions of Section 4(a), no Tenant who satisfies the applicable income limit for a Restricted Unit, upon initial occupancy shall be denied continued occupancy of a Restricted Unit in the Project because, after admission, the aggregate Adjusted Income of all Tenants in the Restricted Unit increases to exceed the qualifying limit for such Restricted Unit. However, should the aggregate Adjusted Income of Tenants in a Restricted Unit, as of the most recent determination thereof, exceed one hundred forty percent (140%) of the applicable income limit for such Restricted Unit occupied by the same number of Tenants, the next available unit of comparable or smaller size must be rented to (or held vacant and available for immediate occupancy) by a Tenant satisfying the applicable income limit for such Restricted Unit. The unit occupied by such Tenants whose aggregate Adjusted Income exceeds such applicable income limit shall continue to be treated as occupied by a Tenant satisfying the applicable income limit for such Restricted Unit for purposes of the requirements of Section 4(a) hereof unless and until an Available Unit of comparable or smaller size is rented to persons other than a Tenant satisfying the applicable income limit for such Restricted Unit. Moreover, a unit previously occupied by a Tenant satisfying the applicable income limit for such Restricted Unit and then vacated shall be considered occupied by a Tenant satisfying the applicable income limit for such Restricted Unit until reoccupied, other than a reoccupation for a temporary period, at which time the character of the unit shall be re-determined. In no event shall such temporary period exceed thirty-one (31) days. The parties agree that this Subsection shall have no practical effect because, except as otherwise provided in Section 4(a), one-hundred (100%) of the units in the Project (except the resident manager’s unit) are required to be Restricted Units pursuant to Subsection 4(a).

Over-Income Tenants. Notwithstanding the foregoing provisions of Section 4(a), no Tenant who satisfies the applicable income limit for a Restricted Unit, upon initial occupancy shall be denied continued occupancy of a Restricted Unit in the Project because, after admission, the aggregate Adjusted Income of all Tenants in the Restricted Unit increases to exceed the qualifying limit for such Restricted Unit. However, should the aggregate Adjusted Income of Tenants in a Restricted Unit, as of the most recent determination thereof, exceed one hundred forty percent (140%) of the applicable income limit for such Restricted Unit occupied by the same number of Tenants, the next available unit of comparable or smaller size must be rented to (or held vacant and available for immediate occupancy) by a Tenant satisfying the applicable income limit for such Restricted Unit. The unit occupied by such Tenants whose aggregate Adjusted Income exceeds such applicable income limit shall continue to be treated as occupied by a Tenant satisfying the applicable income limit for such Restricted Unit for purposes of the requirements of Section 4(a) hereof unless and until an Available Unit of comparable or smaller size is rented to persons other than a Tenant satisfying the applicable income limit for such Restricted Unit. Moreover, a unit previously occupied by a Tenant satisfying the applicable income limit for such Restricted Unit and then vacated shall be considered occupied by a Tenant satisfying the applicable income limit for such Restricted Unit until reoccupied, other than a reoccupation for a temporary period, at which time the character of the unit shall be re-determined. In no event shall such temporary period exceed thirty-one (31) days. The parties agree that this Subsection shall have no practical effect because, except as otherwise provided in Section 4(a), one-hundred (100%) of the units in the Project (except the resident manager’s unit) are required to be Restricted Units pursuant to Subsection 4(a).

Over-Income Tenants. Notwithstanding the foregoing provisions of Section 4(a), no Tenant who satisfies the applicable income limit for qualifying as a Restricted Unit, Very Low Income Tenant upon initial occupancy shall be denied continued occupancy of a Restricted Unit in the Project because, after admission, the aggregate Adjusted Income of all Tenants in the Restricted Unit increases to exceed the qualifying limit for such Restricted Unit. However, should the aggregate Adjusted Income of Tenants in a Restricted Unit, as of the most recent determination thereof, exceed one hundred forty percent (140%) of the applicable income limit for such Restricted Unit occupied by the same number of Tenants, the next available unit of comparable or smaller size must be rented to (or held vacant and available for immediate occupancyoccupancy by) by a Tenant satisfying the applicable income limit for such Restricted UnitVery Low Income Tenant. The unit occupied by such Tenants whose aggregate Adjusted Income exceeds such applicable income limit shall continue to be treated as occupied by a Very Low Income Tenant satisfying the applicable income limit for such Restricted Unit for purposes of the requirements of Section 4(a) hereof unless and until an Available Unit of comparable or smaller size is rented to persons other than a Tenant satisfying the applicable income limit for such Restricted UnitVery Low Income Tenants. Moreover, a unit previously occupied by a Very Low Income Tenant satisfying the applicable income limit for such Restricted Unit and then vacated shall be considered occupied by a Very Low Income Tenant satisfying the applicable income limit for such Restricted Unit until reoccupied, other than a reoccupation for a temporary period, at which time the character of the unit shall be re-determined. In no event shall such temporary period exceed thirty-one (31) days. The parties agree that this Subsection paragraph shall have no practical effect because, except as otherwise provided in Section 4(a), one-hundred (because 100%) % of the units in the Project (except the resident manager’s unit) are required to be Restricted Units pursuant to Subsection Section 4(a).

Over-Income Tenants. Notwithstanding the foregoing provisions of Section 4(a), no Tenant who satisfies the applicable income limit for a Restricted Unit, Unit upon initial occupancy shall be denied continued occupancy of a Restricted Unit in the Project solely because, after admission, the aggregate Adjusted Income of all Tenants in the Restricted Unit increases to exceed the qualifying limit for such Restricted Unit. However, should the aggregate Adjusted Income of Tenants in a Restricted Very Low Income Unit or a DRS Unit, as of the most recent determination thereof, exceed one hundred forty seventy percent (140170%) of the applicable income limit for such Restricted Unit occupied by the same number of Tenants, the next available unit of comparable or smaller size Available Unit that is a Restricted Unit must be rented to (or held vacant and available for immediate occupancyoccupancy by) by a Tenant satisfying the applicable income limit for such Restricted UnitDRS Tenant. The unit occupied by such Tenants whose aggregate Adjusted Income exceeds such applicable income limit shall continue to be treated as occupied by a Very Low Income Tenant satisfying the applicable income limit for such Restricted Unit or DRS Tenant for purposes of the requirements of Section 4(a) hereof unless and until an Available Unit of comparable or smaller size that is a Restricted Unit is rented to persons other than a Tenant satisfying the applicable income limit for such Restricted UnitDRS Tenant. Moreover, a unit previously occupied by a Very Low Income Tenant satisfying the applicable income limit for such Restricted Unit or DRS Tenant and then vacated shall be considered occupied by a Very Low Income Tenant satisfying the applicable income limit for such Restricted Unit or DRS Tenant, respectively, until reoccupied, other than a reoccupation for a temporary period, at which time the character of the unit shall be re-determined. In no event shall such temporary period exceed thirty-one (31) days. The parties agree that this Subsection shall have no practical effect because, except as otherwise provided in Section 4(a), one-hundred (100%) of the units in the Project (except the resident manager’s unit) are required to be Restricted Units pursuant to Subsection 4(a).