Replacement Housing Production Sample Clauses

Replacement Housing Production. SHA shall produce or cause Nonprofit Housing Developers to produce 561 units of Replacement Housing. SHA shall allocate Federal Operating Subsidies for the Replacement Housing. Monthly tenant housing costs for these units, including an allowance for rent and basic utilities, shall be those allowed under the US Housing Act and agreements between SHA and HUD and, for City-funded Replacement Housing, shall not exceed limits in agreements between SHA, or the housing owner, and OH. Replacement Housing will be occupied by or reserved for Residents who must relocate due to demolition and construction and who are eligible to return pursuant to the Relocation Plan, or occupied by or reserved for households with incomes no higher than 30 percent of AMI at the time of initial occupancy of the households, for a minimum of 50 years. If Federal Operating Subsidies are reduced, and the OH Director makes the determinations described in Section 3.5 below, the OH Director may adjust income limits and affordability levels for a portion of the Replacement Housing units to serve tenants with higher incomes, but not higher than 80% of AMI.
Sample 1
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Related to Replacement Housing Production

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