Credit Units definition

Credit Units means units in a Project that are eligible for Credit.

Credit Units means all of the Federal Low-Income Housing Tax Credit units in a Qualified Maine Project or all of the units in a Qualified Rural Development Preservation Project that are assisted or financed by Rural Development.

Credit Units means actual hours of active participation in a course, class or seminar pertaining to the fire protection industry for the purpose of increasing one’s aptitude, knowledge or skill in a particular area or task. One hour of personal course contact acceptable to the Commissioner will equal one credit unit.

Examples of Credit Units in a sentence

• Notwithstanding the foregoing, the term “Transfer Event” shall be applicable only to projects in which at least 50% of the units are Tax Credit Units.

• The project proposes to make Tax Credit Units available for eventual tenant ownership and provides the information described in Section 10325(c)(6) of these regulations.

• For new LIHTC Projects, MaineHousing will inspect Credit Units by the end of the second calendar year following the year the last Qualified Building is Placed in Service.

• Moreover, for Projects that are 100 percent Tax Credit Units, the 140 percent rule does not apply as long as all units in the building remain in compliance.

• For instance, 50% of Income Targeted Units to Total Tax Credit Units at 50% of Area Median Income (AMI) cannot be used twice for 100% at 50% and receive 50 points, nor can 50% of Income Targeted Units to Total Tax Credit Units at 50% of Area Median Income for 25 points and 40% of Income Targeted Units to Total Units at 50% of Area Median Income be used for an additional 20 points.

• The Applicant must make a resident service coordinator available to the tenants on-site a minimum of one (1) hour per week for every five (5) Credit Units over an appropriate number of days each week acceptable to MaineHousing.

• The Grade Point Average is obtained by multiplying the Grade Point average in each course by the number of Credit Units assigned to that course, and then summing these up and dividing by the total number of Credit Units taken for the semester.

• Tenants who are over-income at the time of re-certification do not need to be removed to maintain the project’s low-income occupancy and must not be evicted without proper cause For Projects With Market and Tax Credit Units: Under this rule, a current tenant whose income exceeds the applicable limitation may move to a different unit within the same building without changing the Tax Credit status of the project.

• To compute the Cumulative Grade Point Average, the total of Grade Points multiplied by the respective Credit Units for all the semesters are added and then divided by the total number of Credit Units for all courses registered by the student.

• For Project With 100 Percent Tax Credit Units: Practically speaking, the Next Available Unit rule does not apply to 100 percent Tax Credit Projects since all of the units in the Project must be rented to income-eligible tenants.

More Definitions of Credit Units

Credit Units means the units determining duration of an Employee's Regular Benefits which are credited to the Employee generally by reason of the Employee’s Weeks of Active Service and cancelled at specified rates for the payment of certain Regular Benefits, and includes a Guaranteed Annual

Credit Units means the units determining duration of an employee's benefits which are credited to him/her generally by reason of his weeks of active service and cancelled at specified rates for the payment of certain benefits.