Affordable Rents definition

Affordable Rents means thirty percent (30%) of an amount equal to sixty percent (60%) of the median gross income for the Area, adjusted for household size (as described in the definition of “Lower Income Tenant” in this Section 1), less a utility allowance calculated as set forth in U.S. Treasury Regulation Section 1.42-10.

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Affordable Rents means Rents established for Assisted Units in accordance with Section 7312.

Affordable Rents means Rents established for Assisted Units in accordance with Section 105.

Examples of Affordable Rents in a sentence

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Affordable Rents - means rents that are at or below the “High” HOME Program rents, as defined in 24 CFR Part 92.252, published by the U.S. Department of Housing and Urban Development (HUD) for different metropolitan areas.
In addition, the rental payments paid by Low Income Tenants for the Low Income Units shall not exceed Affordable Rents.
Affordable Rents may not be increased more frequently than annually to reflect increases in Area Median Income.
Affordable Rents for Affordable Units, including Utility Allowances, shall be based on the Los Angeles County Area Median Income published in Title 25, California Code of Regulations, Section 6932 by the California Department of Housing and Community Development, as may be amended from time to time.

More Definitions of Affordable Rents

Affordable Rents means rents where the total monthly shelter cost (gross monthly rent including utilities - heat, hydro and water- but excluding parking and cable television charges) is initially at or below one times the average City of Toronto rent, by unit type (number of bedrooms), as reported annually by the Canada Mortgage and Housing Corporation, and subject only to annual increases which do not exceed any guideline therefore published by the Province of Ontario and, if applicable, permitted above-guideline increases;

Affordable Rents means a monthly rent (excluding any supplemental rental assistance from the State, the federal government or any other public agency to those tenants or on behalf of those units) which does not exceed 30 percent of 50 percent of one-twelfth of the Area median income, adjusted for family size as established under Section 8 of the United States Housing Act of 1937, as amended, based upon the following household sizes for various types of residential units in the Project:

Affordable Rents means a cost not in excess of that which may be charged the applicable eligible person or family pursuant to Section 50053 of the California Health and Safety Code (specific code is included as Attachment 5).

Affordable Rents means Monthly Occupancy Costs at or below the lesser of the City’s Affordable Rents and the Provincial Affordable Rents;

Affordable Rents means a rental housing cost not in excess of that which may be charged the applicable eligible person or family pursuant to Section 50053 of the California Health and Safety Code. No rental activities are currently proposed under the NSP3.

Affordable Rents means rents established for assisted units in accordance with section 113.

Affordable Rents means the Affordable Housing Rental Program Rents inclusive of essential utilities (heat, hydro, and water). The Affordable Housing Rental Program Rents are reviewed by Manitoba Housing annually and published on the Manitoba Housing website at: https://www.gov.mb.ca/housing/progs/pil.html#affordable.