Affordable Housing Cost definition

Affordable Housing Cost means an amount satisfied by:

Affordable Housing Cost means that for owner-occupied housing, the sales price at which the monthly ownership cost including principal, interest, taxes, insurance, and utilities equals:

Affordable Housing Cost means the cost which does not exceed thirty percent (30%) of eighty percent (80%) of Area Median Income adjusted for family size appropriate to the Home for Low Income Households whose gross income does not exceed 80% of Area Median Income adjusted for family size appropriate to the Home.

Examples of Affordable Housing Cost in a sentence

• By: Sabrina LandrethCity Administrator Approved as to Form and Legality By: Deputy City Attorney [SIGNATURE(S) MUST BE ACKNOWLEDGED]EXHIBIT 1 PROPERTY DESCRIPTION Legal Description EXHIBIT 2AFFORDABLE HOUSING COST AND AFFORDABLE SALES PRICE All Assisted Units must be sold to Qualified Homebuyers at an Affordable Housing Cost.

• The documents for For-Sale Units shall also include subordinate shared appreciation promissory notes permitting the City to capture at resale the difference between the market rate value of the Inclusionary Unit and the Affordable Housing Cost, plus a share of appreciation realized from an unrestricted sale in such amounts as deemed necessary by the City to replace the Inclusionary Unit.

• This Exhibit describes how the Affordable Housing Cost and Affordable Sales Price are calculated for each Assisted Unit.

• Determining the Affordable Housing Cost for an Assisted Unit The Affordable Housing Cost is the maximum monthly housing cost that a household in a certain income group should pay.

• Affordable Housing Cost is set as a maximum percentage of a certain income adjusted for family size.

More Definitions of Affordable Housing Cost

Affordable Housing Cost means, as to each Eligible Person, a rental rate which results in monthly payments which, including a reasonable utility allowance, do not exceed:

Affordable Housing Cost means, as to each Eligible Household, a rental rate which results in monthly payments which, including a reasonable utility allowance, do not exceed:

Affordable Housing Cost means as follows:

Affordable Housing Cost means that for owner-occupied housing, the sales price is restricted for a minimum of 45 years, and 50 years for housing located on tribal trust lands. The monthly ownership cost, including principal, interest, taxes, insurance, and utilities, equals:

Affordable Housing Cost means the maximum amount that a household may be required to pay to live in an affordable unit. The City shall determine affordable housing costs for each affordable unit type within a proposed development at the time of project approval, and the affordable housing cost may be adjusted annually to reflect the current area median income for Santa Clara County.

Affordable Housing Cost means the total housing costs paid by a qualifying household, which shall not exceed the fraction of gross income specified, as follows, in accordance with Sections 50052.5 and 50053 of the Health & Safety Code:

Affordable Housing Cost means the cost defined in the California Health and Safety Code Sections 50052.5 and 50053 (as may be amended from time to time) for owner-occupied and tenant-occupied units, respectively, and adjusted for assumed household size. The housing manager, on or about July 1st of each calendar year shall publish the maximum affordable housing costs for sales prices and rents as calculated in accordance with the applicable provisions of the California Health and Safety Code.