Affordability Criteria definition

Affordability Criteria means: All units must serve and be affordable (household is paying less than 30% of gross income on housing costs) to targeted People and Populations Who Are Vulnerable and who are also, or otherwise would be, in severe housing need or people experiencing or at high risk of homelessness as described below. Affordability must be maintained for a minimum of 20 years. The Recipient will be required to confirm, through an attestation, that all units serve the intended targeted population. CMHC may require incremental validation throughout the 20-year affordability period as needed. A household in severe housing need is a subset of core housing need households that pays 50% or more for their current dwelling. A household is said to be in core housing need if its housing falls below at least one of the adequacy, affordability or suitability standards and it would have to spend 30% or more of its total before tax income to pay the median rent of alternative local housing that is acceptable (meets all three housing standards). Homelessness is described as the situation of an individual, family or community without stable, safe, permanent, appropriate housing, or the immediate prospect, means and ability of acquiring it. Populations at imminent risk of homelessness are defined as individuals or families whose current housing situation will end in the near future (for example, within 2 months) and for whom no subsequent residence has been established. A Recipient who has already adopted its own definitions for ‘severe core housing need’, ‘homelessness’ or at ‘risk of homelessness’ may, with approval of CMHC, apply such definitions to the Affordability Criteria. Otherwise, the definitions for these terms indicated herein apply.
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Affordability Criteria means: All Units must serve and be (i) affordable such that the household is paying less than 30% of gross income on housing costs or the shelter component of any provincial or territorial income assistance program as an equivalent, (ii) to targeted People and Populations Who Are Vulnerable and (iii) who are also, or otherwise would be, in severe housing need or people experiencing or at high risk of homelessness as described below. Affordability must be maintained for a minimum of 20 years. The Recipient will be required to confirm, through an attestation, that all units serve the intended targeted population. The City may require incremental validation throughout the 20-year affordability period as needed. A household in severe housing need is a subset of core housing need households that pays 50% or more of its total before tax income for their current dwelling. A household is said to be in core housing need if its housing falls below at least one of the adequacy, affordability or suitability standards and it would have to spend 30% or more of its total before tax income to pay the median rent of alternative local housing that is acceptable (meets all three housing standards). Homelessness is described as the situation of an individual, family or community without stable, safe, permanent, appropriate housing, or the immediate prospect, means and ability of acquiring it. Populations at imminent risk of homelessness are defined as individuals or families whose current housing situation will end in the near future (for example, within 2 months) and for whom no subsequent residence has been established.
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Affordability Criteria means the empirical number that is generated based on a combination of community poverty rate, community unemployment rate and statewide population trend.
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Examples of Affordability Criteria in a sentence

  • However, disadvantaged communities, as identified in the Project Priority System- Category D, Affordability Criteria, will receive more ranking points.

  • The SA Tool and the metrics are discussed in Appendix A - Affordability Criteria, and they define the affordability criteria that will be used to evaluate the DAC status of a borrower for the purpose of SRF loan forgiveness (LF) eligibility.

  • Affordability Criteria is discussed in Appendix C and BIL Annex A to the CWSRF IUP.Additional Subsidization:Iowa applies additional subsidization in the form of loan forgiveness.

  • The Bank has revised the Affordability Criteria in this IUP for the distribution of additional subsidy in order to fulfill the intents and goals of the BIL to reach Disadvantaged Communities.

  • The CWSRF Program developed Affordability Criteria to be used on grants after FY2014.

  • The revised affordability criteria is as follows: Affordability Criteria for Disadvantaged CommunitiesTo assess affordability needs in the CWSRF, Rhode Island has established an Affordability Criteria for Rhode Island’s municipalities and wastewater and drinking water utilities.

  • In addition, at the discretion of the CWSRF Loan Program, projects that have Green Project Reserve components or projects that meet the Authority’s Affordability Criteria as defined in Section G of this Intended Use Plan.

  • The CWSRF Loan Program will use the below Affordability Criteria to assist in identifying applicants that would have difficulty financing projects without Additional Subsidization.

  • The Affordability Criteria has been updated from requiring a community to have a “low” MHI to a more clearly defined MHI of “below 80% of the State MHI and opens consideration to projects that positively impact smaller areas of disadvantage within a wider community.

  • Affordability Criteria and Terms of Financial Assistance Affordability of a proposed project considers both the resulting user rate (based on usage of 71,996 gallons per household per year) and the MHI of the community system or community in which the system exists.


More Definitions of Affordability Criteria

Affordability Criteria means an inflow and infiltration project service area that is located, in whole or in part, in a census tract where at least three of the following apply as determined using the most recently published data from the United States Census Bureau
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Affordability Criteria means the empirical number that is generated based on a combination of communitypoverty rate, communityunemployment rate and statewide population trend.
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Affordability Criteria means the empirical number that is generated based on a combination of communitycounty poverty rate, communitycounty unemployment rate and statewide population trend.
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Affordability Criteria has the meaning given to it in Section 8.6; “Affordability Period” means the term of the Lease;
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Affordability Criteria means, unless otherwise required by DECD, with respect to (i) twelve (12) of the Units, that the income level for any household seeking to own such Unit shall be an amount less than or equal to eighty (80%) percent of area median income as determined by HUD (“AMI”) at the time the owner initially purchases the Unit and (ii) two (2) of the Units, that the income level for any household seeking to purchase such Unit shall be an amount less than or equal to fifty (50%) percent of AMI at the time such owner initially purchaser the Unit. Such Unit counts to be reduced for each income category on a pro rata basis to the extent the total number of Units constructed is less than fourteen (14).
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Related to Affordability Criteria

  • Affordability means a housing unit that satisfies at least one of the following criteria:

  • Eligibility Criteria means the legal criteria as specified in the Clause 5 of this E- Auction Process Information Document;

  • Affordability average means the average percentage of median income at which restricted units in an affordable housing development are affordable to low- and moderate-income households.

  • Insurance Affordability Program means a program that is one of the following:

  • Investment Criteria The criteria specified in Section 12.2(a).

  • ASAM criteria means admission, continued service, transfer, and discharge criteria for the treatment of substance use disorders as published by the American Society of Addiction Medicine (ASAM).

  • Business Criteria means any one or any combination of Income before Taxes, Net Income, Return on Equity, Return on Assets, Pre-tax Margin, Free Cash Flow, Valuation or EPS.

  • Fitch Criteria means the Collateral Amount shall equal the sum of (i) the product of A multiplied by the mark-to-market value of the outstanding Transactions dxxxxmined by Party A in good faith from time to time, and (ii) the product of B multiplied by the current aggregate notional amount of the outstanding Transactions, where:

  • Review Criteria has the meaning assigned to that term in Section 12.02(b)(i).

  • Period of Affordability means the time during which HOME Loan financed units must remain affordable to eligible households, as defined by HOME program regulations and this Plan. The Period of Affordability shall commence upon completion of the project and shall run for the period required under HOME regulations or the term of the HOME Loan, whichever is greater. Completion shall be defined as set forth in the HUD regulations for the HOME program.

  • Criteria means one of the eight (8) state defined categories to be scored.

  • Selection Criteria means and includes all of the requirements, considerations,

  • Sustainability Linked Loan Principles means the Sustainability Linked Loan Principles as most recently published by the Loan Market Association and Loan Syndications & Trading Association.

  • performance requirement means a requirement that:

  • Risk-Based Capital Guidelines means (i) the risk-based capital guidelines in effect in the United States on the date of this Agreement, including transition rules, and (ii) the corresponding capital regulations promulgated by regulatory authorities outside the United States implementing the July 1988 report of the Basle Committee on Banking Regulation and Supervisory Practices Entitled "International Convergence of Capital Measurements and Capital Standards," including transition rules, and any amendments to such regulations adopted prior to the date of this Agreement.

  • Energy efficiency portfolio standard means a requirement to

  • Performance Requirements The ordering entity reserves the right to inspect and verify that all deliveries are in accordance with specifications, both at the point of delivery and at the point of use. For orders that specify an “authorized party” to receive and inspect deliveries and/or installations, acceptance and inspection procedures must be performed by the” authorized party” to be considered and accepted by the ordering entity. Products inspected at the time of use are subject to refusal and return requirements for issues of quality such as defects in manufacturing and/or workmanship. Products will not be considered accepted by the ordering entity until the installation is complete for the applicable products.

  • Business Critical means any function identified in any Statement of Work as Business Critical.

  • Affordability Period means the period during which the average rent in a Project is required to be maintained at an affordable level, as determined in accordance with the Program Guidelines or as otherwise established by the County;

  • Evaluation Criteria means the criteria set out under the clause 27 (Evaluation Process) of this Part C, which includes the Qualifying Criteria, Functional Criteria and Price and Preferential Points Assessment.

  • Eligibility and selection criteria means criteria for determining:

  • Functional Criteria means the criteria set out in clause 27 of this Part C.

  • Board-Established Criteria means criteria that the Board of a Regulated Fund may establish from time to time to describe the characteristics of Potential Co-Investment Transactions regarding which the Adviser to the Regulated Fund should be notified under Condition 1. The Board-Established Criteria will be consistent with the Regulated Fund’s Objectives and Strategies (defined below). If no Board-Established Criteria are in effect, then the Regulated Fund’s Adviser will be notified of all Potential Co-Investment Transactions that fall within the Regulated Fund’s then-current Objectives and Strategies. Board-Established Criteria will be objective and testable, meaning that they will be based on observable information, such as industry/sector of the issuer, minimum EBITDA of the issuer, asset class of the investment opportunity or required commitment size, and not on characteristics that involve a discretionary assessment. The Adviser to the Regulated Fund may from time to time recommend criteria for the Board’s consideration, but Board-Established Criteria will only become effective if approved by a majority of the Independent Directors (defined below). The Independent Directors of a Regulated Fund may at any time rescind, suspend or qualify their approval of any Board-Established Criteria, though Applicants anticipate that, under normal circumstances, the Board would not modify these criteria more often than quarterly.

  • Housing Specialist means a specialized position dedicated to developing the full array of housing options for their program and monitoring their sustainability for the population served in accordance with the minimal housing standards policy set by County for their program. The Housing Specialist is also responsible for assisting Participants with applications to low- income housing, housing subsidies, senior housing, etc.

  • Performance Standards or “PS” shall mean the cleanup levels and other measures of achievement of the remedial action objectives, as set forth in the ROD.

  • Program Requirements means certain minimum program entry requirements as well as ongoing program requirements, to be fulfilled by Partner, some of which are general PartnerEdge requirements, some of which are specific for the “Sell Engagement” and some of which are specific for the different “Cloud” Product Families, including, without limitation payment of the Program Fee(s), meeting certain minimum annual revenue requirements, upholding a Sell Authorization for at least one “Cloud” Product Family and other requirements as set out in detail in the PartnerEdge Program Guide and the RSPI.