Affordable Residential Unit definition

Affordable Residential Unit means a Residential Unit that meets the criteria set out in subsection 4.1 of the Act;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Affordable Residential Unit means a residential unit that that meets the criteria set out in section 4.1 of the Act.

Affordable Residential Unit means a Dwelling Unit that meets the criteria set out in subsection 4.1(2) or 4.1(3) of the Act;

Examples of Affordable Residential Unit in a sentence

• Owner shall keep the household that no longer qualifies for low-income housing reasonably informed of the Owner’s attempts to obtain a replacement For-Rent Affordable Residential Unit.

• Subject to any such consent, nothing in this Section 5 shall limit the requirements of the Affordable Housing Program that a Declaration of Restrictions for For-Rent Affordable Housing Units be recorded against each For- Rent Affordable Residential Unit, that each For-Sale Affordable Residential Unit be sold to qualified members of the public using an Affordable Housing Parcel Deed, together with a Declaration of Restrictions for For-Sale Affordable Residential Unit and Option to Purchase Agreement.

• The lease term for each For-Rent Affordable Residential Unit and for each Market Rate Housing Unit offered for rent shall not exceed one (1) year.

• Thereafter, the For-Rent Affordable Residential Unit shall be rented to a low-income household, subject to this Declaration, the Agreement and the Program.

• On or before the ninetieth (90th) day prior to the expiration date of such lease, Owner shall designate the next available Residential Unit of comparable size within the Residential Project as a replacement For-Rent Affordable Residential Unit, using commercially reasonable efforts to match the distribution of For-Rent Affordable Residential Units and Market Rate Housing Units shown on Attachment A-l.

More Definitions of Affordable Residential Unit

Affordable Residential Unit means a residential unit that meets the criteria set out in subsection 4.1(2) or 4.1(3) of the Development Charges Act;

Affordable Residential Unit means a residential unit that meets the criteria set out in subsection (2) or (3); (“unité d’habitation abordable”)

Affordable Residential Unit means an affordable residential unit as defined in Section 4.1 of the Development Charges Act, 1997, S.O. 1997, c.27 as amended, or any successor thereto.

Affordable Residential Unit means a residential unit that meets the definition of an “affordable residential unit” as defined in the Development Charges Act, 1997.

Affordable Residential Unit means a Dwelling Unit that meets the criteria set out in subsection 4.1 (2) or 4.1(3) of the Development Charges Act, 1997, c.27 as amended;

Affordable Residential Unit means a residential unit that at all times meets the criteria set out in section 4.1 of the DC Act and is rented or sold in accordance with this Agreement.

Affordable Residential Unit means a residential unit that meets the criteria set out in subsection 4.1(2) or 4.1(3) of the Development Charges Act, 1997, SO 1997, c 27;