Community Housing Trust Account definition

Community Housing Trust Account means a dedicated account within the Developmental Disabilities Community Housing Fund which includes proceeds from the sale, transfer or lease of any surplus real property owned, operated or controlled by the Department and used as a state training center, of which 95% of the sale or transfer amount will remain in the account in perpetuity. Interest earned in the account and 5% of the sale or transfer proceeds may be used for community housing.
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Examples of Community Housing Trust Account in a sentence

  • With the exception of the Community Housing Trust Account, funds may be transferred from one account to another.

  • Seller currently holds all approvals, authorizations and other licenses from the Agencies required under the Guides (or otherwise) to Originate, hold, service and sell Multifamily Loans.

  • The Community Housing Trust Account consists of revenue from the sale, lease or transfer of any state training center, and other funds allocated by the Department of Human Services.

  • All earnings on investments of moneys in the Fund, including earnings in the Community Housing Trust Account, shall accrue to the Fund.

  • Based on recommendation of the Trust Advisory Council, the Department may designate a portion of the Community Housing Trust Account allocation that was not encumbered or disbursed in the previous fiscal year to fund grants to not-for-profit Housing Providers for predevelopment activities for larger projects.

  • The remaining proceeds from the sale or other conveyance shall be transferred to the Community Housing Trust Account created under ORS 426.506 (3).(3) Redevelopment of the real property formerly occupied by the F.

  • Average cost of commercially manufactured equipment and specialty products.(6) Application may be made to the Community Housing Trust Account for adaptations that are contingent on securing other funds for a project.

  • As used in this sub- section, “housing” may include acquisition, maintenance, repair, furnishings and equip- ment.(3)(a) There is established within the Community Mental Health Housing Fund a Community Housing Trust Account.

  • As used in this subsection, “housing” may include acquisition, maintenance, repair, furnishings and equipment.(3)(a) There is established within the Community Mental Health Housing Fund a Community Housing Trust Account.

  • All other deposited, unrestricted funds or account earnings unless a specific deposit is designated by its maker to be placed in the restricted portion of the Community Housing Trust Account.

Related to Community Housing Trust Account

  • Mutual housing corporation means a corporation not-for-profit,

  • Special needs trust means a trust the trustee believes would not be considered a resource for purposes of determining whether a beneficiary with a disability is eligible for governmental benefits.

  • 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