Affordable Units definition

Affordable Units means units that have rents that do not

Affordable Units means any combination of dwelling units restricted in perpetuity as affordable to persons or families qualifying as low or moderate median income. The affordable restriction shall be approved as to form by legal counsel to the Planning Board, and a right of first refusal upon the transfer of such restricted units shall be granted to the Town or its designee for a period not less than 120 days after notice thereof;

Affordable Units means the twenty-five (25) units in the Project designated by the Owner and approved by the City, as set forth in Exhibit B, and reserved for occupancy by Eligible Households with maximum rents pursuant to Section 3.

Examples of Affordable Units in a sentence

• Any increase in rents for the Affordable Units is subject to the provisions of outstanding leases.

• Section 13.6. In order to ensure that Tenant complies with Section 5.1, above, regarding the obligation to maintain at least thirty percent (30%) of the total residential rental unit composition as Affordable Units, Landlord will carry out subtenant income certifications and unit inspections annually.

• The Borrower shall comply with all federal, state and local statutes, ordinances, regulations and laws with respect to the ownership and operation of the Project including without limitation the rental of the Affordable Units.

• Section 13.8. Unit sizes, features and finishes for all units must be consistent throughout the development including the Affordable Units.

• The Borrower shall manage, operate, and maintain the Property in accordance with this Agreement and shall maintain or cause to be maintained the interiors and exteriors of the Affordable Units in a decent, safe, and sanitary manner, and in accordance with the HUD Housing Quality Standards and the maintenance standards required by Section 92.251 of the HOME Regulations.

More Definitions of Affordable Units

Affordable Units means living units, which are required under this chapter to be rented at affordable rents or available at an affordable ownership cost to eligible households.

Affordable Units means dwelling units associated with the Project that are deed restricted for the greater of 55 years or the Life of the Project and are available to and occupied by Thirty Percent Income Households and/or One Hundred Percent Income Households at Affordable Rent.

Affordable Units means a dwelling unit that will be offered for rent exclusively to an Income Eligible Household at an Affordable Rent pursuant to this Agreement.

Affordable Units means affordable to persons earning less than 80% Area Median Family Income (AMFI) as defined by U.S. Department of Housing and Urban Development (HUD) for single family housing and under 60% AMFI as defined by HUD for rental and multi-family.

Affordable Units means housing which the DRB finds to be designed and established to meet the needs of below-median household incomes. Affordable units may include VHFA-eligible housing units, rental or owner- occupied dwelling units intended for long-term affordability, limited equity housing cooperatives, or perpetually restricted (housing land trust) projects.

Affordable Units means the 23 units in the Project as selected by the Owner and as approved by the City or its Designee, as set forth in Exhibit B, and reserved for occupancy by Eligible Households pursuant to Section 3.

Affordable Units means residential units described in subsection (3)(f)(A) or (4) of this section.