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

Examples of Affordable Housing Cost in a sentence

• Throughout the Affordability Period, the Property may be sold only to a Lower Income Household at an Affordable Housing Cost (“Qualifying Buyer”) with Authority’s prior written approval.

• Such income information shall be submitted with the Notice of Intent to Transfer and shall include, without limitation, a certification as to the income and family size of the proposed Transferee, original or true copies of pay stubs, income tax records or other financial documents in order for Grantor to determine whether the proposed Transferee is a Lower Income Household, and the whether the Property is to be transferred to such proposed Transferee at an Affordable Housing Cost.

• Our role has been to provide a framework and encourage and foster participation so the membership could identify the challenges, aspirations, and specifics of a long-term plan.

• This Affordable Housing Cost Factor is defined as the average total public subsidy per new construction affordable housing unit permitted in the City for the previous calendar year, and will be adjusted annually on July 1 of each year in an amount commensurate with the cost of producing affordable housing.

• An Affordable Sales Price is a sales price at which a household with an income equal to a specified percentage of area median income, adjusted for household size, pays no more than an Affordable Housing Cost.

More Definitions of Affordable Housing Cost

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.

Affordable Housing Cost means as follows:

Affordable Housing Cost shall have the meaning ascribed to such term in Section 50052.5 of the California Health & Safety Code as of the Effective Date or as subsequently amended from time to time. As of the Effective Date, “Affordable Housing Cost” has the following meaning:

Affordable Housing Cost for a purchaser means the monthly amount that is affordable to a low or moderate-income household. The method for calculating affordable housing costs is as provided in this ordinance.

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 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: