Common Contracts
1 similar null contracts
ContractMarch 18th, 2019
AFFORDABLE RENT: Is defined by Section 50053 of the Health and Safety Code and means the monthly rent which, together with utility allowance, does not exceed the following: 1. For Very Low Income Household Density Bonus Units: Fifty percent (50%) of the area median income for El Dorado County, adjusted for household size, multiplied by thirty percent (30%) and divided by twelve (12). 2. For Lower Income Household Density Bonus Units: Sixty percent (60%) of the area median income for El Dorado County, adjusted for household size, multiplied by thirty percent (30%) and divided by twelve (12). 3. For Moderate Income Households Density Bonus Units: One- hundred ten percent (110%) of the area median income for El Dorado County, adjusted for household size, multiplied by thirty percent (30%) and divided by twelve (12). AFFORDABLE SALES PRICE: A sales price at which very low, lower or moderate income households can qualify for the purchase of qualifying units.
