Permanent Supportive Housing Loans Sample Clauses

Permanent Supportive Housing Loans. Moneys held in the Program Fund may be applied to make loans to developers to finance, in part, the acquisition, construction, or renovation of Permanent Supportive Housing that constitutes Eligible Housing Units and Residential Housing, to be occupied by households having an income that does not exceed fifty percent (50%) of AMI, adjusted for household size. The total amount of any Permanent Supportive Housing Loan may not exceed fifty percent (50%) of the total capital expenditures (excluding fees paid to a developer or its Affiliates) of the project. Permanent Supportive Housing Loan funding shall be limited to properties with no more than 50% Permanent Supportive Housing Units per project. No Permanent Supportive Housing Loan may be made or unconditionally committed to be made unless the developer shall have obtained through a firm commitment secure funding sources for the balance of the total costs of the project, but nothing in this sentence shall preclude the Housing Corporation from making conditional commitments for Permanent Supportive Housing Loans. Permanent Supportive Housing Loans shall be subordinated in lien and right of payment to the repayment of other loans to finance or refinance the multifamily housing project, provided such other loans are made by lenders that are not Affiliates of the developer. The obligation to repay Permanent Supportive Housing Loans shall be evidenced by a promissory note, in a form acceptable to the Program Administrator, and shall be secured by a deed to secure debt, in a form acceptable to the Program Administrator. Each multifamily housing project financed by a Permanent Supportive Housing Loan shall be regulated by a land use restriction agreement, in a form acceptable to the Program Administrator, for the greater of 20 years of the term of the Permanent Supportive Housing Loan. Permanent Supportive Housing Loans may be offered in collaboration with the HomeFirst Program and may be layered with Home First Program funds for capital costs. No Permanent Supportive Housing Loan shall be made that does not provide or have contractual third-party agreements to provide supportive services to the occupants of the Permanent Supportive Housing in form and in substance satisfactory to Program Administrator.
Sample 1
AutoNDA by SimpleDocs

Related to Permanent Supportive Housing Loans

  • Billing Increments Unless otherwise stated in a Service Order, usage-based charges will be billed on either a per-minute or per- message basis. Service calls invoiced on a per-minute basis will have an initial minimum call duration of one (1) minute, subsequent intervals of one (1) minute each, and will be billed by rounding to the next whole minute.

  • Longevity Increments 11.6.1 Each regular classified employee shall receive a two-range increase (5%) upon completion of five (5) years of satisfactory and continuous service. This increase will become effective at the beginning of the sixth year.

  • Amendment of Contract Period The parties may modify the contract termination date by written supplemental agreement prior to the date of termination as set forth in Article 6, Supplemental Agreements, of attachment A, General Provisions, provided, however, that the termination date may, in no event, be extended past the fifth anniversary of execution.

  • Modifications and Updates to the Wire Center List and Subsequent Transition Periods 2.1.4.12.1 In the event BellSouth identifies additional wire centers that meet the criteria set forth in Section 2.1.4.5, but that were not included in the Initial Wire Center List, BellSouth shall include such additional wire centers in a carrier notification letter (CNL). Each such list of additional wire centers shall be considered a “Subsequent Wire Center List”.

  • Optional Extended Local Calling Scope Arrangement Traffic (5) special access, private line, Frame Relay, ATM, or any other traffic that is not switched by the terminating Party; (6) Tandem Transit Traffic; (7) Voice Information Service Traffic (as defined in Section 5 of the Additional Services Attachment); or, (8) Virtual Foreign Exchange Traffic (or V/FX Traffic) (as defined in the Interconnection Attachment). For the purposes of this definition, a Verizon local calling area includes a Verizon non-optional Extended Local Calling Scope Arrangement, but does not include a Verizon optional Extended Local Calling Scope Arrangement.

  • Anniversary Increments Employees shall advance on the wage grid on their anniversary date in the classification.

  • Longevity Increment All unit members who have completed the required years of District service, as defined below, shall be eligible to receive a longevity increment.

  • Notice to Proceed - Land Acquisition The acquisition of the Land shall not occur until the Director has issued a written Notice to Proceed for land acquisition to the Recipient (the "Notice to Proceed"). Such Notice to Proceed will not be issued until the Director has received a Request to Proceed acceptable to the Director and is assured that the Recipient has complied with all requirements for the approval of a grant under Revised Code Sections 164.20 through 164.27 and any requirements for land acquisition set forth in this Agreement, including without limitation the OPWC's approval of the proposed Deed Restrictions and Title Agent. The Notice to Proceed also shall specify the time frame for the Closing.

  • Additional Commitments The Parties may negotiate commitments with respect to measures affecting trade in services not subject to scheduling under Article 106 (National Treatment) or Article 107 (Market Access), including those regarding qualifications, standards or licensing matters. Such commitments shall be inscribed in a Party's Schedule.

  • Contract Transition Upon Contract expiration or termination, the Contractor shall ensure a seamless transfer of Contract responsibilities with any subsequent Contractor necessary to transition the Products and services of the Contract. The incumbent Contractor assumes all expenses related to the contract transition.

Time is Money Join Law Insider Premium to draft better contracts faster.