Affordable housing costs definition

Affordable housing costs means the total housing costs paid by a qualifying household, which shall not exceed a specified fraction of their gross income, adjusted for household size appropriate for the unit, as follows:
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Affordable housing costs means the amounts set forth in the Health and Safety Code sections 50052.5 and 50053, as may be amended.
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Affordable housing costs means that the housing costs for a low-income resident shall not exceed 30 percent of that resident's monthly gross income unless the department approves an amount exceeding this standard based on one or more of the following conditions which provide overriding and special reasons for exceeding this goal:
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Examples of Affordable housing costs in a sentence

  • Affordable housing costs are defined in Section 6918 for renters and Section 6920 for purchasers of Title 25 of the California Code of Regulations, and in Sections 50052.5 and 50053 of the Health and Safety Code, or by the applicable funding source or program.

  • Affordable housing costs are a calculation of residential rent or ownership pricing not to exceed 25 percent gross income based on area median income thresholds dependent on affordability levels.

  • Affordable housing costs are defined in Section 6918 for renters, and in Section 6925 for purchasers, of Title 25 of the California Code of Regulations, and in Sections 50052.5 and 50053 of the Health and Safety Code, or by the applicable funding source or program.

  • Note: Affordable housing costs assume that 30% of gross household income is applied toward rent or house payment.

  • Canada Mortgage and Housing Corporation (CMHC) defines “affordable housing” as follows: Affordable housing costs less than 30% of before-tax household income.

  • Affordable housing costs are based on Health and Safety Code standards; 15% of monthly affordable cost for taxes and insurance; 10% downpayment; and 4% interest rate for a 30-year fixed rate mortgage loan.2. Median price of single-family home = $1,081,0003.

  • Under a very different economic environment, the project was cancelled in 1989.

  • Affordable housing costs for all jurisdictions in Los Angeles County that correspond to the various income categories are shown in Table 2.

  • Households Overpaying for Housing For policy and general planning purposes, local and state governments use the following criteria for affordability: "Affordable housing costs with respect to very low, low and moderate income households shall not exceed 30% of gross household income." (Health and Safety Code, Section 50052.9).

  • Affordable housing costs are set forth by several local, State and Federal programs.

Related to Affordable housing costs

  • Affordable Housing Cost means an amount satisfied by:

  • Affordable housing project means, for purposes of this part, title fourteen of article twenty seven of the environmental conservation law and section twenty-one of the tax law only, a project that is developed for residential use or mixed residential use that must include affordable residential rental units and/or affordable home ownership units.

  • Affordable housing means housing that is available at a cost low enough to meet the needs of eligible households having regard to local incomes and local house prices and which will remain at an affordable price for future eligible households or, if not, that the subsidy is recycled for alternative affordable housing provision

  • Affordable Housing Unit means a rental unit in an affordable housing building that rents for an amount that is affordable to households at or below 60 percent of area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis- St. Paul- Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for household size and number of bedrooms.

  • Housing costs means the compensation or fees paid or charged, usually periodically, for the use of any property. land, buildings, or equipment. For purposes of this chapter, housing costs include the basic rent charge and any periodic or monthly fees for other services paid to the landlord by the tenant, but do not include utility charges that are based on usage and that the tenant has agreed in the rental agreement to pay, unless the obligation to pay those charges is itself a change in the terms of the rental agreement.

  • Affordable housing program(s means any mechanism in a municipal Fair Share Plan prepared or implemented to address a municipality’s fair share obligation.

  • Affordable housing development means a development included in the Housing Element and Fair Share Plan, and includes, but is not limited to, an inclusionary development, a municipal construction project or a 100 percent affordable development.

  • Affordable Housing Units – means the Affordable Housing to be provided as part of the Development in accordance with the application and/or any subsequent reserved matters approval.

  • Supportive housing means housing with no limit on length of stay, that is occupied by the target population, and that is linked to an onsite or offsite service that assists the supportive housing resident in retaining the housing, improving his or her health status, and maximizing his or her ability to live and, when possible, work in the community.

  • Leasing Costs means, with respect to a particular Lease, all capital costs, expenses incurred for capital improvements, equipment, painting, decorating, partitioning and other items to satisfy the initial construction obligations of the landlord under such Lease (including any expenses incurred for architectural or engineering services in respect of the foregoing), “tenant allowances” in lieu of or as reimbursements for the foregoing items, payments made for purposes of satisfying or terminating the obligations of the tenant under such Lease to the landlord under another lease (i.e., lease buyout costs), relocation costs, temporary leasing costs, leasing commissions, brokerage commissions, legal, design and other professional fees and costs, in each case, to the extent the landlord is responsible for the payment of such cost or expense under the relevant Lease or any other agreement relating to such Lease.

  • Housing project means a project, or distinct portion of a

  • Closing Costs means, collectively, all initial costs and fees that identified above and in Section 16 that Seller agrees to pay to Buyer as consideration for agreeing to enter into this Agreement.

  • Non-profit housing development means development of a building or structure intended for use as residential premises by,

  • Insurance Expenses means any Insurance Proceeds (i) applied to the repair of the related Leased Vehicle, (ii) released to the related Lessee in accordance with applicable law or the Customary Servicing Practices or (iii) representing other related expenses incurred by the Servicer that are not otherwise included in Liquidation Expenses or Disposition Expenses and recoverable by the Servicer under any applicable Servicer Basic Documents.

  • Multifamily housing means housing accommodations designed as a residence for more than 1 family.

  • Insurance Costs means the sums described in paragraph 1.1 of Part 5 of the Schedule;

  • Property Management Fee means the fee payable to the Manager for its day-to-day management of the Property pursuant to the Management Agreement.

  • Training costs means reasonable costs incurred to upgrade the technological skills of Full-Time Employees in Illinois and includes: curriculum development; training materials (including scrap product cost); trainee domestic travel expenses; instructor costs (including wages, fringe benefits, tuition and domestic travel expenses); rent, purchase or lease of training equipment; and other usual and customary training cots. “Training costs” do not include, except where the Company receives prior written approval of the Department, costs associated with travel outside the United States, wages and fringe benefits of employees during periods of training, administrative costs related to Full-Time Employees of the Taxpayer, or amounts paid to an affiliate of the Company.

  • Affordable Rent means a rent which does not exceed eighty per centum (80%) of the market rent (inclusive of service charges) for an equivalent property of the relevant size and location such rent to be assessed and set in accordance with the applicable requirements of Legislation and of the Rent Standard;

  • Affordable means, a sales price or rent level that is within the means of a low- or moderate- income household as defined within N.J.A.C. 5:93-7.4, and, in the case of an ownership unit, that the sales price for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.6, as may be amended and supplemented, and, in the case of a rental unit, that the rent for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.12, as may be amended and supplemented.

  • Advertising Costs The Company will determine with the Agent the amount of advertising that may be appropriate in soliciting offers to purchase the Book-Entry Notes. Advertising expenses will be paid by the Company.

  • Health care expenses means, for purposes of Section 14, expenses of health maintenance organizations associated with the delivery of health care services, which expenses are analogous to incurred losses of insurers.

  • Financing Costs means for each calendar day the product of:

  • Affordable Unit means a housing unit proposed or created pursuant to the Act and approved for crediting by the Court and/or funded through an affordable housing trust fund.

  • Qualified rehabilitation expenditures means capital